BusinessMirror April 10, 2019

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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Wednesday, April 10, 2019 Vol. 14 No. 182

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‘Govt has no money for ₧10-B rice fund’ F

By Cai U. Ordinario @caiordinario & Jasper Emmanuel Y. Arcalas @jearcalas

ARMERS may have to wait until the third quarter at the earliest to benefit from a fund that will consist of tariffs from rice imports, according to the National Economic and Development Authority (Neda).

Neda Regional Development Office Assistant Secretary Mercedita A. Sombilla told the BusinessMirror in an interview that currently, no funds are available for the Rice Competitiveness Enhancement

Fund (RCEF).

Sombilla said an allocation of P5 billion for the RCEF was made in 2018. However, when the rice trade liberalization bill was not passed last year, the funds were

channeled instead to the National Rice Program.

“I told the DBM [Department of Budget and Management], ‘so you still owe P10 billion in the RCEF not unless you’ll be able to talk

“When the government was able to generate savings in 2018, the DBM set aside funds for the RCEF in the hope that the law will be passed. But the law was not passed but the funds were allocated. The DBM was acting in good faith, it just wasn’t clear on the rice program.”—Sombilla

with DA [Department of Agriculture] to give back the funds,’” she said. “It [RCEF] will only have funds probably by the third quarter when government savings are already available.” Sombilla said there was a debate over the P5-billion allocation made last year.

@BcuaresmaBM

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HE International Monetary Fund (IMF) downgraded its growth outlook for the Philippines, but projected a steady upward trajectory for the country’s economic expansion in the next five years.

In its latest World Economic Outlook (WEO), the global monetary authority said it expects GDP growth this year to settle at 6.5 percent, slightly lower than the 6.6 percent it projected in October 2018.

The lower forecast is parallel to their move to cut its outlook for global economic growth this year to 3.3 percent, from its initial forecast of 3.9 percent.

“One year later, much has changed: the escalation of the United StatesChina trade tensions, macroeconomic stress in Argentina and Turkey, disruptions to the auto sector in Germany, tighter credit policies in China, and financial tightening alongside the normalization of monetary policy in the larger advanced economies have all contributed to a significantly weakened global expansion, especially in the second half of 2018,” the IMF’s report read.

“With this weakness expected to persist into the first half of 2019, the WEO projects a decline in growth in 2019 for 70 percent of the global

The lifeblood of terrorism Teddy Locsin Jr.

FREE FIRE Statement of Foreign Affairs Secretary Teodoro Locsin Jr. at the Security Council Open Debate on “Threats to International Peace and Security Caused by Terrorist Acts: Combating the Financing of Terrorism,” on March 28, 2019, at the United Nations Headquarters in New York City.

‘M

ONEY is the lifeblood of terrorism. In the Philippines, the financing of terrorism is a complex web of illicit flows, money laundering, transnational organized crime, especially the drug trade, and even the occasional remittance sent by overseas Filipinos. Porous physical, financial and cyber borders enable it.

See “Rice fund,” A4

Continued on A6

‘2019 budget items should be valid till mid-2020’

economy,” it added.

Local economists have also adopted a wait-and-see stance on the country’s economic prospects this year, as they are closely monitoring how the government will handle the effects of the delay in the approval of the 2019 budget.

In mid-March, the Development Budget Coordination Committee lowered its GDP forecast to a range of 6 to 7 percent, from 7 to 8 percent.

At this rate, the Philippines and Vietnam are expected to become the fastest-growing economies in 2019 based on the IMF’s projection.

By Bernadette D. Nicolas @BNicolasBM

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strengthen its market monitoring and standards enforcement program.

The Pisi report to the DTI claimed substandard rebars are being sold in several hardware stores in the Cordilleras, specifically Benguet, Mountain Province and Ifugao. The group found this out in the market monitoring and test buys it initiated early this year.

HE validity of 2019 appropriations should be extended until mid-2020 since there is not enough time to finish the projects within the remaining months, Cabinet Secretary Karlo Alexei B. Nograles said.

This, even though Nograles pointed out that the 2019 budget might be signed by the President before Holy Week.

Citing the election ban and the delays brought by the construction of infrastructure projects during rainy season, Nograles, a former House Appropriations Committee Chairman, believes there is a need to extend the period of validity of the appropriations under 2019 budget.

“Ideally, what we want to happen is if the budget is already signed, we fast-track the completion of infrastructure projects under the 2019 budget. And of course, maybe the budget will be effective in May, you will only have, then we also have the election ban so you will have to wait for the election ban to be lifted for you to start your infrastructure projects.

See “Rebars,” A8

See “Budget,” A2

Medium-term outlook

DAY OF VALOR RALLY Hundreds of protesters shout slogans during a rally at the Chinese Consulate to coincide with the country’s

FOR next year, the IMF expects the country’s economy to expand by 6.6 percent—the fastest in Southeast Asia.

The IMF paints an even rosier picture for the country’s growth five years down the line, with its GDP expansion expected to hit 6.8 percent in 2024.

Should this come to fruition, the Philippines will buck the trend of a declining growth in emerging and developing Asia for the next five years. It will also be expanding above the region’s growth average of 6.1 percent.

Just last week, the Asian Development Bank (ADB) also cut its growth forecast of the country to 6.4 percent, from the 6.7-percent forecast in September 2018. ADB blamed the cut on the delay in the approval of the budget.

commemoration of “Araw ng Kagitingan” (Day of Valor) on Tuesday, April 9, in Makati City. The protesters are calling on the citizenry to uphold national sovereignty in the wake of China’s alleged continued occupation of the disputed islands, shoals and reefs in the South China Sea, as well as President Duterte’s alleged “warmer ties with China.” AP/BULLIT MARQUEZ

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IMF scales down 2019 PHL economic forecast, but sees 5-year growth

By Bianca Cuaresma

2017 EJAP JOURNALISM AWARDS

Substandard rebars sold in CL, ST markets

By Elijah Felice E. Rosales

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@alyasjah

HE Department of Trade and Industry (DTI) has vowed to intensify its fight against substandard steel products, as it admitted they are widespread in Central Luzon and Southern Tagalog markets.

Trade Secretary Ramon M. Lopez

said the DTI will tighten its market monitoring and apprehension of retailers, importers and manufacturers of substandard rebars. He added that the agency will continue to carry out its confiscation of low grade steel bars to prevent them from reaching consumers.

Lopez is responding to a report by the Philippine Institute of Steel and Iron (Pisi) asking the DTI to

n JAPAN 0.4672 n UK 68.0610 n HK 6.6486 n CHINA 7.7683 n SINGAPORE 38.5108 n AUSTRALIA 37.0521 n EU 58.5318 n SAUDI ARABIA 13.9159 Source: BSP (8 April 2019 )

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A2 Wednesday, April 10, 2019

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Palace unfazed by legal BIR issues rules for applying tax amnesty challenge to rice trade lib

By Rea Cu

@ReaCuBM

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By Bernadette D. Nicolas

@BNicolasBM

ALACAÑANG is unfazed by the prospect of a legal challenge to the new rice trade liberalization law before the Supreme Court, as it disputed claims that the government is “railroading” the reorganization of the National Food Authority (NFA).

This, as tenured employees of NFA threatened to file a petition before the Supreme Court challenging the constitutionality of the measure, which they believe could cause thousands of NFA workers to lose their jobs.

“Any citizen or a group of citizens can file a petition in court. We do not interfere with the function of the Judiciary. The government studies any government action before it performs it,” Panelo said in a text message to the BusinessMirror, adding that it is “false” to claim that the national government is rushing things and wants to railroad everything.

Asked if the Palace is confident that the SC

will rule in favor the legality of the measure, the Palace spokesman said: “As I said, we will leave that to the SC.” The BusinessMirror earlier reported that the NFA Employees Association (NFAEA) Central Office President Maximo M. Torda had said their group will file the petition by May. Torda said the NFAEA will question the legislative history of the law, which started first as a rice tariffication bill, then evolved into a measure that affected government safeguards against imports and included the deregulation of the food agency.

Torda said NFAEA’s upcoming Supreme

“Any citizen or a group of citizens can file a petition in court. We do not interfere with the function of the Judiciary. The government studies any government action before it performs it.”—Panelo

Court case is only part of a series of legal challenges that will be made by various rice-industry stakeholders against the new law in the coming weeks.

Since Torda said no NFA employee could be displaced until June due to the election ban, this will give the NFA more time to discuss the reorganization and restructuring of the grains agency to fulfill its new mandate under the new law.

Torda cited the commissioning of an independent study that would outline the NFA’s buffer-stocking role under the new trade regime as the basis for the agency’s reorganization.

This, he said, would allow the NFA to determine how many workers will be displaced.

Torda said some 1,000 employees will be affected by the NFA reorganization mandated by the new law, higher than the initial estimate of 400 made by government officials.

The 400 NFA employees who may be displaced are from the industry services department and security services and investigation department, which are directly involved in the NFA’s previous regulatory functions of licensing importers and retailers and monitoring the country’s rice trade.

The National Economic and Development Authority (Neda) said the reorganization of the NFA will affect less than 500 employees. Neda Regional Development Office Assistant Secretary Mercedita A. Sombilla also earlier told the BusinessMirror that these employees are involved in the importation and licensing functions of the NFA. The importation and licensing function of the NFA has been repealed under Republic Act 11203. Under the new law, the NFA’s functions have been limited to buffer stocking.

Sombilla said the higher number cited by the NFA union was based on a survey of employees who wanted to avail themselves of the “retirement package” to be offered by the government. This means the number includes both the affected employees and those who want to leave NFA. The survey was done prior to the signing of the law’s IRR. Under the IRR, NFA employees will receive up to 1.5 times their monthly basic salaries (MBS), depending on their years of service.

Initially, Sombilla said this was not the computation offered by the Department of Budget and Management (DBM).

She said determining the compensation package was one of the reasons the IRR was not signed immediately after the law was passed.

Under Rule 3.4.1.2, the package of employees who are in their first 20 years of service will be equivalent to their MBS multiplied by their years of service.

However, those who have reached 20 years and one day to 30 years of employment will receive a package that is equivalent to 1.25 times their MBS for every year of service.

Those who stayed longer at 30 years and one day or more, will receive 1.5 times their MBS for every year of service.

Budget. . .

Continued from A1

That is why it is possible that the period of effectivity of the budget will be beyond December 2019, since you will not be able to finish them all by December 31, 2019, especially if the rainy season comes,” Nograles told reporters.

The delay in the passage of the 2019 budget had coincided with the push by the Department of Budget and Management for a “revolutionary shift” from multiyear obligations-based to annual cash-based budgeting, which was opposed by House lawmakers, including Nograles, due to “budget cuts.”

Even with the cash-based budgeting system, Nograles, now a Palace official, said ideally one year is

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HE Bureau of Internal Revenue (BIR) has issued a Revenue Regulation (RR) on the implementing rules and regulations (IRR) for Republic Act (RA) 11213 or the Tax Amnesty Act of 2019, specifically on the provision governing the processing of tax amnesty applications on tax delinquencies.

The BIR’s RR 04-2019, signed by BIR Commissioner Caesar R. Dulay, embodies the guidelines for implementing the tax amnesty on delinquencies provision under the Tax Amnesty Act of 2019, with the RR taking effect after 15 days.

It states that all persons with internal revenue tax liabilities, whether natural or juridical, covering taxable year 2017 and prior years, may avail themselves of the tax amnesty on delinquencies within one year from the effectivity of the RR. The coverage of the RR includes: delinquent accounts with application for compromise settlement on the basis of doubtful validity of the assessment or financial incapacity of the taxpayer; whether the delinquent accounts were denied or still pending at the Regional Evaluation Board or National Evaluation Board; delinquent withholding tax liabilities arising from nonwithholding of tax; and delinquent estate tax liabilities.

It also covers those with pending criminal cases with the Department of Justice (DOJ) or at the courts for tax evasion and other criminal offenses, those with final and executory judgment by the courts on or before the effectivity of the RR, as well as withholding tax liabilities of withholding agents arising from their failure to remit withheld taxes.

In line with the tax amnesty rates, delinquent accounts and assessments, which have become final and executory, were set a rate of 40 percent of the basic tax assessed; those tax cases subject of final and executory, judgment by the courts at 50 percent of the basic tax assessed; those with pending criminal cases filed with the DOJ, 60percent rate of the basic tax assessed; and 100 percent of the basic tax assessed for withholding agents who withheld taxes but failed to remit the same to the BIR. “The tax amnesty rate of 100 percent shall apply in all cases of nonremittance of withholding taxes...,” the RR said. RA 11213 seeks to enhance revenue administration and collection by

granting an amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years. This is with respect to estate tax and other internal revenue taxes and tax on delinquencies.

Delinquent taxpayers may avail themselves of the amnesty by providing documentary requirements, including the tax amnesty return form, acceptance payment form validated by BIR-authorized agent banks accompanied by the validated bank deposit slip or Revenue Official Receipt issued by revenue collection offers, and certificate of tax delinquencies or tax liabilities, among others.

The applicants can then file their applications at BIR offices, including Revenue District Offices where the taxpayer is registered, the BIR’s large taxpayer division office for applicants in Cebu and Davao, as well as in its Large Taxpayers Collection Enforcement Division.

“The tax delinquency of those who avail [themselves] of the tax amnesty on delinquencies under these regulations, upon full compliance with all the conditions set forth hereof, shall be considered settled, and the criminal case in connection therewith and its corresponding civil or administrative case, if applicable, shall be terminated...,” the RR added.

Earlier, the Department of Finance (DOF) said that under RA 11213, the government is expected to provide an estate tax amnesty for one year, as well as a tax amnesty on delinquencies for two years.

The measure is expected to generate revenues estimated at P27.54 billion, lower than the estimated potential revenues of P63.5 billion under the DOF’s original amnesty proposal, since the general tax amnesty provision was partially vetoed

by President Duterte under the law.

The DOF’s original proposal on amnesties under Package 1B of the Comprehensive Tax Reform Program (CTRP) includes an estate tax amnesty, which is estimated to generate P6.28 billion, general tax amnesty with P13.63 billion, tax amnesty on delinquencies with P27.16 billion, lifting of the bank-secrecy law for criminal cases, as well as the automatic exchange of information (AEOI) with P16.6 billion.

DOF Undersecretary Mark Dennis Y.C. Joven earlier pointed out that there is an estimated P80 billion worth of tax delinquencies pending in the books of the BIR.

Angara to DOTr: Prepare IRR for 20% student fare discount

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HE bill granting the 20-percent st udent fa re d iscou nt—yea rround, and not just during the school season—is on President Duterte’s desk for his signature, and reelectionist Sen. Juan Edgardo Angara believes it will become a law in time for the return of students from the provinces when classes open in June.

But this early, Angara, one of the Senate authors of the measure, is calling on the Department of Transportation (DOTr) to draft the law’s implementing rules and regulations (IRR) so it can be implemented immediately once the President signs the measure.

“If a bill’s enactment is anticipated, then the implementing agency, in a proactive move, can ready the IRR, especially if there is a schedule to be met, which in this case is the opening of classes seven weeks from now,” Angara said.

“This is one of those ‘do not delay’ laws.

So its implementation should not be held up by the absence of an IRR. Kung merong [If there’s such a thing as] anticipated bidding [and] early procurement [in] public works, [there should be an] advance writing of an IRR [for important legislation],” said the senator from Aurora.

Angara said ideally both the law and the IRR should be in effect first week of May so that students can buy discounted bus, ship

needed to be able to complete the budget cycle.

“So maybe mid-2020 should be the lifespan of this budget otherwise, or, maybe in the next Congress, you can ask for a joint resolution extending the effectivity of the budget,” he said.

He also raised the possibility that there may be more infrastructure projects that will be constructed in 2020 in this scenario.

“What may happen there is, in 2020, you will have infrastructure projects that were technically 2019 budget plus your 2020 budget. There will be more infrastructure projects in 2020. That would be its effect if [you will add up] the [projects for] latter half of 2019 plus the new 2020 projects,” he said. “It will be good for the economy because you will see a lot of infrastructure projects that are coming in, so that will also be good for job generation, but I hope

and plane tickets ahead of the school opening. “Many book one month in advance so it will be good if the law is in effect by then,” he said.

Angara’s bill expands the current limited land fare discounts for students, which they can only avail themselves during school days, to an “all-year, all forms of transport” privilege.

Angara’s Senate Bill 1597 seeks to institutionalize the fare discount currently being implemented by the Land Transportation Franchising and Regulatory Board (LTFRB) even during weekends and holidays and cover all means of transportation year-round.

The LTFRB, in October 2017, issued a memorandum circular stating that “students can avail themselves of the 20-percent discount from Monday to Sunday, including summer breaks, legal and special holidays.”

Failure to provide the fare discount is a franchise violation that carries a penalty of a fine of P5,000 for the first offense, P10,000 and their vehicles impounded for one month for the second offense, and P15,000 and cancellation of franchise for the third offense, the agency said.

Angara, however, said there is always a possibility that the student fare discount may not be enforced effectively since it is just based on a mere circular issued by the LTFRB; hence the need for the law. we would not choke due to a lot of projects.”

It was only two weeks ago that Senate leaders agreed to withdraw their reservations on the P3.757-trillion 2019 national budget that had left both chambers of Congress deadlocked for two weeks.

Although Senate President Vicente Sotto III inked the measure, he also informed the President through a letter transmitting the budget to the Palace that he affixed his signature “with strong reservations,” adding that he was leaving it up to Malacañang to “consider disapproving the unconstitutional realignments, pursuant to his constitutional power to veto” particular items on the budget bill.

Meanwhile, the House has since stood firm that the budget itemization implemented by the lower chamber was within the parameters of the bicameral committee report ratified by each chamber.

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Nasecore to Comelec: Revoke Philreca’s party-list registration

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HE National Association of Electricity Consumers for Reforms Inc. (Nasecore) is asking the Commission on Elections (Comelec) to cancel the registration of the party-list group Philippine Rural Electric Cooperatives Association (Philreca) for allegedly receiving illegal campaign contributions from electric cooperatives totaling P10 million.

In its 14-page petition for cancellation of registration, Nasecore said P3 million was given to Philreca by Davao del Sur Electric Cooperative, P2 million from Isabela Electric Cooperative II and P1 million each from Zambales 1 Electric Cooperative Inc., Pampanga III Electric Cooperative Inc., Peninsula Electric Cooperative Inc., Pampanga 1 Electric Cooperative Inc., Zambales II Electric Cooperative Inc. The petition included evidence consisting of a check, deposits slips and board resolutions indicating that the ECs have contributed

millions of pesos to Philreca, the umbrella organization of electric cooperatives, purposely either “in support of political undertakings of the party-lists represented by Philreca”; “for legislative endeavor of Philreca”; “Advocacy Fund”; “campa ig n f und for Phi lreca party-list to support the advocacies and legislative endeavor and requesting the approval for the supplemental budget of the said campaign fund,” which, the Nasecore said, are all in blatant violation of Section 95 of the Omnibus Election Code. Lenie Lectura

Groups demand stakeholders’ consultation on SSA’s IRR

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IGRANT groups, recruitment and manning agencies on Tuesday said they are now considering going to Congress, or even the courts, to address the alleged illegal provisions of the Social Security Act (SSA).

Blas F. Ople Policy Center (BOPC) head Susan Ople said such may serve as their last resort if their concerns will not be addressed in the drafting of the implementing rules and regulations

(IRR) of the SSA. “We will prepare our recommendation for possible amendments once [the session of] Congress resumes...we may also consider going to the courts depending on the outcome of the consultations,” Ople said. Congress is currently on break and set to resume its session next month after the May 13 elections.

BOPC together with leaders of the Philippine Association of Service Export-

ers Inc. (PASEI), Integrated Seafarers of the Philippines, and the Joint Manning Group rejected the existing draft IRR of the SSA. Ople criticized the apparent failure of SSS to conduct sufficient number of stakeholder consultations, particularly for OFWs in crafting the IRR. For her part, PASEI President Elsa U. Villa reiterated her opposition against making Social Security System premium payment a condition for the issuance of

an aspiring overseas workers’ employment certificate. JMG Vice Chairman Eric Marquez slammed how the SSA law referred to them as the direct employer of a Filipino seafarer.

“This is far from the truth...we just recruit and deploy foreign workers,” Marquez said. The concerned labor groups renewed their call from the government to conduct the additional consultations for the SSA’s IRR. Samuel P. Medenilla

Wednesday, April 10, 2019 A3

SCTEx road upgrade eases travel as daily traffic surges 573 percent

By Ashley Manabat Correspondent

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LARK FREEPORT—The P2billion road improvement project along the Subic-ClarkTarlac Expressway (SCTEx) has resulted in ease of travel that increased economic activities in Central Luzon.

Data from the Bases Conversion and Development Authority (BCDA) showed that since the opening of the SCTEx in 2008, the average daily traffic grew to 573 percent, from just 9,302 vehicles to 62,643 in 2018.

The BCDA and Nlex Corp. from 2013 to 2018 implemented some P2 billion worth of improvement and maintenance works along the 94-kilometer expressway. The management, operations and maintenance of SCTEx was turned over by BCDA to the Nlex Corp. in 2015.

The projects include the NlexSCTEx integration in 2016, which reduced toll collection stops and improved travel time of motorists; the expansion of Tipo Toll Plaza and Mabiga interchanges; asphalt overlay covering the full stretch of the SCTEx; and the establishment of two toll service facilities to provide travel convenience.

A new Traffic Control Room was put up and CCTV systems were in-

stalled to improve monitoring of real-time traffic. Also implemented were the installation of Emergency Call Boxes, LED lights, and crash cushions and reflective delineator plates for the safety of motorists.

“SCTEx has opened floodgates of opportunities as the faster and safer travel have encouraged investments and tourism in the region. We can see that industrial centers are booming particularly in Subic, Bataan, and Tarlac because mobility improvements are a come-on for motorists and investors,” Nlex Corp. President Luigi Bautista said. It was noted that Central Luzon posted a gross domestic product growth of 9.3 percent in 2017, almost 3 percent higher than the country’s GDP of 6.7 percent for the same year.

“Rest assured that we will continue to help in driving growth through our infrastructure developments,” Bautista added.

“Improvements in SCTEx infrastructure and service have proven instrumental in driving growth to the region. Motorists will have an even better travel experience in the coming years with the big projects planned for SCTEx,” said Engr.

Joshua Bingcang, BCDA senior vice president for business development and operations.

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AEP instead of SWP: DOLE to tighten rule on Pogo entry

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By Samuel P. Medenilla

@sam_medenilla

PPLICATION for alien special working permits (SWP) will soon be restricted to only 14 selected categories under a new proposed policy of the Department of Labor and Employment (DOLE).

Among the occupations included in the so-called positive list are athletes, artists, missionaries and professionals, who will train and transfer their knowledge to Filipinos.

“This a list of specific activities and works that foreign nationals should do in the country on a short term basis,” Bureau of Local Employment Director Dominique R. Tutay told reporters in an interview.

Foreigners, who will be applying in occupations not included in the

list like Philippine Offshore Gaming Operators (Pogo) will be banned from availing of SWPs. “The [labor] secretary said no Pogo workers should be issued SWP. Instead they should secure an Alien Employment Permit [AEP],” Tutay said.

She explained the new measure aims to address public concern that the SWPs are being abused by some foreigners to circumvent DOLE restrictions.

An SWP is a document issued by the Bureau of Immigration (BI) to foreigners who would like to work in the country for less than six months.

It is easier to obtain compared to the DOLE’s AEP, which is issued to foreigners who will be working in the country for more than six months, since they will no longer have to go through the Labor Market Test (LMT).

Foreigners who need to immediately work in the country, but whose AEP are still being processed, are given a provisional work permit (PWP) by the BI. Under the LMT, a foreigner’s name and job vacancies they are applying for are published in newspapers so concerned Filipino workers will have the opportunity to oppose the former’s employment, if necessary.

Stakeholder approval

TUTAY pointed out the positive list will be contained in the new

inter-agency agreement for SWP issuance set to be signed by May 1, in time for Labor Day. She said they are confident it will be completed on time after it already gained the approval of the Tripartite Executive Committee on two conditions.

The first condition is that the validity of PWP should be limited to only three months and not extendable and deemed revoked once the AEP and the work visa has already been issued.

And the other one is that a new policy requiring foreigners to get a working visa even before entering the country should be issued within the year.

Currently, foreigners can enter the country with a tourist visa and then covert it into working visa after they are hired in the country.

Tutay noted foreigners applying for work visas may be required to go through their LMT. The LMT, the labor official said, will become the basis of the Depart-

Most Diwalwal miners complied with govt order to halt pollutive operations–DENR

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AVAO CITY—The Department of the Environment and Natural Resources (DENR) has reported high conmpliance to its order to stop gold processing activities in Diwalwal, Monkayo town, Compostela Valley, but the huge expense to move out equipment has slowed down the transfer to government designated processing areas.

As of the end of March, 15 operators have been in various stages of transferring to the DENR-designated processing area in Sitio Mabatas, some 5 kilometers down the slope of the active mines and tunnelling operations in Diwalwal, according to Chamberlain J. Babiera, the Provincial Environment and Natural Resources Officer (Penro) of Compostela Valley.

Assistant Secretary Ruth Tawantawan said there are more than 300 operators and plant owners of 1,797 ball mills and 31 carbon inpulp (CIP) processors who must be served with the order to stop the unchecked and wanton dumping of toxic mines tailing laden with mercury and cyanide, a DENR briefing paper said “There are plenty who stopped their operations but have not yet transferred due to the cost…in the transfer, which, according to the plant owners, they don’t have yet,” Babiera said.

Babiera said many others have “actually stopped operating, and that’s the essence of the CDO [cease and desist order]—to stop operat-

ing at their present location.”

The CDO was served with finality on March 15, after several years of hankering with plant owners and operators. Tawantawan said the DENR gave them the last grace period between October last year and March this year.

The order was served to those who operated along rivers and creeks on the slopes and inside residential areas. One male owner of a retail store in residential Nang District acknowledged receipt of the order after the DENR team pointed to his ball mill and CIP processing below his establishment.

Another male operator of a ball mill said he would stop operating “because gold has been scarce anyway for years now.”

“It’s now common here to process about four sacks of rocks and ores to get one gram of gold. And that is not profitable anymore,” he said.

A ball-mill machine crushes and pulverizes rocks and mix them with mercury to separate the gold dust.

Some pulverized materials are processed in a CIP, which uses cyanide to separate the gold dust from the powdered soil. The wastes, or the tailings, are eventually dumped into the waterways.

In the 1990s, the government mounted a national investigation and mineral sampling of the Naboc River, the main water channel of Diwalwal that empties into the Agusan River, and in the waters of Davao Gulf following initial

Libya. . . continued from a8

alert level following the escalation of the fighting, including the shelling of residential areas in the outskirts of the capital. The DFA said Alert Level 3 will cover Tripoli and areas within a 100-kilometer radius of the capital: To the East; Tajoura, Ghot Romman, Qaraboli, Qasr Khiyar; To the South: Esbea, Tarhuna, Bani Waled and Gharyan.

To the West: Aziziya, Warshifana, Zawia, Surman and Sabratha.

POEA on standby

PHILIPPINE Overseas Employment Administration (POEA) Administrator Bernard B. Olalia said they are just waiting for the official DFA recommendation before they reimpose deployment restrictions for Libya due to the recent development.

Compared to their previous deployment restrictions for Libya, Olalia said their new issuance may only cover certain portions of the country.

“Once DOLE receives the DFA advice, POEA will convene the GB [governing board] and the appropriate GB Resolution will be passed to reimpose the deployment ban only in affected areas where the alert level is imposed,” Olalia told the BusinessMirror in an SMS. In January, POEA allowed the resumption of the deployment of balik manggagawa or returning OFWs to Libya after DFA lowered the crisis alert level there.

In his official Twitter account, Foreign Affairs Secretary Teodoro L. Locsin Jr. said on Monday evening he decided to raise the alert level in Tripoli and its adjacent districts due to worsening armed conflict in the said area. DFA estimates there are currently 1,000 Filipinos in the affected areas.

findings of high traces of mercury among fishes and other marine species.

“Initially after the CDO service, there were unverified reports that few plant owners had extended their milling to accommodate their ready-to-mill mine ores,” Babiera said. He said not all plant owners were served with the order because “no person was present in the plant during the service, no official representative of the owner to receive the CDO, [or] some plainly refused to receive the CDO.” “However, substitute service was done through official registered mailing of the CDO by the MGB [Mines and Geosciences Bureau]. Legally the CDOs were received by the concerned plant owners,” he added.

Babiera said many other small operators “have grouped themselves into a cooperative and [are] having ongoing transfer of their respective mills to the area of the cooperative.”

Dredging

THE DENR has formed compliance monitoring teams “to continuously conduct the compliance of the plant owners to the CDO. Cases may be filed by either MGB or EMB [Environmental Management Bureau] to those found to be defying the CDO.” “So far the report of the compliance monitor of CMTs show that only four out of the more than 300 individual plant owners served

Ricecontinued fund.from . .a1

with CDO have been found to be non compliant. There is an ongoing case build up so that proper information can be filed at the proper court, initiated by the issuing office, DENR-MGB and EMB,” Babiera added.

He said the transfer would take several days or even months, “hence there are ongoing transfer that started even before March 15.”

He said Barangay Capt. Pedro Samillano has requested DENR for the donation of lumber for the construction of common processing plants to be constructed by the barangay personnel.

Babiera said bidding for the dredging has not yet started with the office still finalizing its terms of reference “of which [it] would be the bases for the bidding.”

“Because the activity is not merely the extraction of sand and gravel, per se, but involves the extraction of chemicals and other minerals therefrom, thereby cleaning the river of the hazardous or pollutant materials,” he said.

Dredging would proceed once the pollutants or the polluting plants are transferred to Mabatas and the bidding done, he said.

Also, structural and vegetative measures would be applied during maintenance and rehabilitation of the river, he added, and may include “riverbanks rehabilitation and protection and planting of agro-fruit-forest trees to benefit the local community.”

She said she insisted that allocating the amount to the national rice program is not the same as putting up the RCEF. The Neda official said the funds may have already been allocated to various regions as money intended for the national rice program. This is part of the reason she knew the funds did not go to the RCEF. If the funds have been used, Sombilla said the DA would be forced to “make do with whatever funds they have in 2019.” She admitted that at this point, she does not know how the DA will address the situation. “When the government was able to generate savings in 2018, the DBM set aside funds for the RCEF in the hope that the law will be passed. But the law was not passed but the funds were allocated.

The DBM was acting in good faith, it just wasn’t clear on the rice program,” she said.

creation of a new fund pool that farmers can access and financed from interest payments from the rice fund, according to the Neda.

This is something that is being studied, Sombilla said, since the interest income and repayments from the credit to be obtained from farmers do not automatically accrue by the end of the year.

“We’re still working on it, that’s why we did not push the credit so much. The only thing that I really fought for in terms of credit was to make it [interest] very, very minimal. If it’s possible, [the interest should be] even lower than ACPC [Agricultural Credit Policy Council] so that farmers can access it,” Sombilla said.

Under the rice trade liberalization law, farmers and cooperatives may access a P1-billion expanded credit facility under the RCEF, a revolving fund. It will offer loans at preferential rates.

This is in lieu of the low access farmers and cooperatives have on agriculture credit offered by the banking sector. This despite a law that requires banks to allot a portion of their credit facilities to the agriculture sector.

New fund pool

Farmers’ dismay

THE national government is also mulling over the

The Federation of Free Farmers Inc. (FFF) expressed

ment of Foreign Affairs or Consular Office to approve or deny a work visa application.

Addressing the gaps

DOLE said both SWP and work visa policies will be elevated to the Tripartite Industrial Peace Council for final approval within the month.

Labor Secretary Silvestre H. Bello III said he is confident the two issuances will address the gaps in the country’s policy for the employment of foreign nationals.

“That is the intention. To prevent the entry of illegal foreign workers once and for all,” Bello said.

Based from the latest data of DOLE, there were 138,001 foreigners who were issued permits 2018. Majority, or 83,760, of them were given SWPs while only 54,241 got AEPs. Some lawmakers, however, suspect there were thousands of others, who are working in the country without the necessary permits.

Two ASG bandits killed in Sulu clash with Army forces

T

WO suspected Abu Sayyaf Group (ASG) bandits were killed, while two others surrendered in the aftermath of an encounter with Army forces in Sulu on Monday.

The Joint Task Force Sulu (JTF) said two ASG members were killed during a firefight with elements of the 41st Infantry Battalion at Barangay Bangkal, Patikul, Sulu, at around 3:45 p.m.

The two others surrendered to the 2nd Special Forces Battalion at Barangay Danag, Patikul, some 15 minutes later. The operation, which was carried out following a top from a civilian was supported by artillery fires and close air support from the Philippine Air Force.

The task force said the soldiers engaged the 40 ASG members under Almujer Yada in a 50-minute gunfight forcing the bandits to scamper toward different direction.

The bandits left behind their two dead companions identified as Barak Ingog who was tagged as one of the facilitators of the Jolo Cathedral twin bombings and Nasser Sawadjaan, nephew of ASG leader Hatib Hajan Sawadjaan.

Also recovered in the encounter site is an M16 rifle and numerous personal belongings of the terrorists.

The operation, however, left three soldiers slightly wounded.

Brig. Gen. Divino Rey Pabayo Jr., commander of the JTF Sulu said, “I am proud of the courage, gallantry and dedication of our soldiers on these remarkable achievements.“ “The active involvement of the peace-loving Tausugs to get rid of this ASG problem have motivated our soldiers to perform their best always in our security campaign. With such cooperation, peace and prosperity in Sulu is within reach, “ he declared. Rene Acosta

dismay over the apparent lack of source for the P10-billion RCEF. FFF National Manager Raul Q. Montemayor said the confusion among government officials over the P10-billion RCEF shows that “as early as now” they are “already shortchanging the farmers.”

“If the P5 billion was for RCEF, how could [the DA] use the money when there were no implementing guidelines yet for the RCEF?” Montemayor told the B usinessM irror .

“If it was for other support programs, the [rice trade liberalization] law says RCEF will be over and above regular program budgets,” he added.

Montemayor said the RCEF should not come from government savings as it is “over and above regular budgets.”

“If they cannot even agree with each other, that’s disappointing. And yet they kept telling farmers not to worry because there would be the RCEF to assist them,” he said.

Montemayor, who is also the Philippine Council for Agriculture and Fisheries Food Staples Committee chairman, said the RCEF should be released immediately to cushion the antici-

Naia prepares for Holy Week passenger rush

By Recto Mercene @rectomercene

T

HE Bureau of Immigration (BI) has deployed more than 50 officers to augment the present personnel complement at the arrival and departure areas of the Ninoy Aquino International Airport’s (Naia) four passenger terminals in anticipation of the expected influx of overseas workers, tourists and balikbayans in the Lenten season.

“I have directed our Port Operations Division [POD] to implement stricter measures in screening all arriving and departing passengers and to ensure that enough manpower are available in our airports to service the needs of the traveling public,” Commissioner Jaime Morente said.

Naia BI chief Grifton Medina disclosed that in compliance with Morente’s directive, he issued a memorandum preventing all BI airport personnel, terminal heads and duty supervisors, from going on leave from April 8 to 22.

“Except for meritorious or emergency reasons, no applications for vacation leaves will be entertained or acted upon by his office during the 10-day period,” he said.

As for the 50 more immigration officers temporarily reassigned to the Naia, Medina said the employees were picked from the main office and the different field, satellite and extension offices of the BI nationwide.

“We have also instructed members of our travel control and enforcement unit and border control and intelligence unit to double their vigilance during this critical period,” Medina added.

All of the veteran agents of several immigration units were directed to assist the frontline officers in monitoring arriving alien passengers in order to prevent the entry of undesirable aliens into the country.

They also remain on the lookout for suspected human-trafficking victims to prevent them from departing for their foreign destinations.

“We assure the public that we will do our best to foil attempts by these syndicates to take advantage of the holidays in sneaking their victims in or out of the country,” Medina said.

Meanwhile, the Manila International Airport Authority (Miaa) put up help desk at the Naia Terminals 2, 3 and 4 to assist departing passengers bound for their respective provinces.

Miaa General Manager Ed Monreal also suspended all vacation leave of his subordinates to assist passengers and protect them from bad elements.

Monreal coordinated with the Philippine National Police-Aviation Security Group has dispatched bomb and drug sniffing dogs in different areas of the premier airport to protect unwary passengers from harm from would-be terrorists. pated detrimental impact of liberalization on the rice sector.

“Plus, the support programs will take time before they take firm root,” he said.

“In fact, the RCEF should have been extended to farmers when the government decided already not to extend the quantitative restriction. They should have started early the adjustment program. Even if the money was made available now, it is arguably late already,” he added.

Montemayor also noted that there is no “clear statement” under the IRR that the RCEF credit allocation would be a “revolving” fund. He explained that in previous IRR discussions, representatives of the DBM “maintained that any collection and interest earned from the credit fund will revert back to the general fund.”

“This is because there is no explicit statement in the law regarding this, unlike in the law that created the Agricultural Competitiveness Enhancement Fund,” he said. “What will now stop the DBM from enforcing its own interpretation [of the law] in the future?” he added.

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Govt paid nearly ₧100B of debt in Feb–BTr data

T

By Rea Cu

@ReaCuBM

HE national government recorded a P99.764-billion debt payment for the month of February, with amortization outpacing that of interest payments, data from the Bureau of the Treasury (BTr) showed.

Based on the data, the government’s debt payment increased by 23.94 percent from the P80.488 billion it paid in the same month last year.

Broken down, amortization amounted to P74.462 billion, which is higher by 36.90 percent from the P54.391 billion made last year.

Interest payments accounted for

P25.302 billion of the total, which showed a decline of 3.04 percent, coming from P26.097 billion in February last year.

Under amortization for the month, the majority of the payments went to the domestic Bond Sinking Fund (BSF) of P70.870 billion with foreign accounts at P3.592 billion.

For interest payments, fixed-rate

Treasury bonds comprised bulk of the payments for the month with P11.752 billion, Treasury bills with P1.602 billion and Retail Treasury Bonds at P1.459 billion.

Domestic interest payments for the month totaled P14.813 billion, while foreign interest payments amounted to P10.489 billion.

During the January-to-February period, debt payments made by the government amounted to P177.378 billion, expanding by 7.96 percent from the P164.294 billion reported in the same period last year.

Broken down, amortization totaled P106.160 billion, which showed a growth of 12.12 percent coming from P94.681 billion, while interest payments amounted to P71.218 billion also posting an increase of 2.30 percent from the P69.613 billion recorded in 2018.

Earlier, the BTr reported that the national government recorded

a total of P60.333 billion in gross borrowings for the month of February, lower by 44.58 percent from last year’s P108.87 billion.

Based on the data, the gross borrowings for February had domestic borrowings comprising a higher share than that of borrowings from foreign entities.

From the January-to-February period this year, the government registered total gross borrowings at P309.131 billion, which increased by 99.7 percent compared to the P154.829 billion recorded in the same period for 2018.

For this year, the national government has programmed its gross borrowings for both domestic and foreign IOUs at P1.19 trillion with the government eyeing a borrowing mix of 75:25, with domestic borrowings accounting for 75 percent and foreign borrowings at 25 percent.

Wednesday, April 10, 2019

A5

Rural, thrift banks expanding through branch-lite units

R

URAL and thrift banks are turning to branch-lite scheme to build their presence in the countryside, recent data from the Bangko Sentral ng Pilipinas (BSP) showed.

In BSP’s recently published circular on approved applications for new banking offices, most of the smaller banks that sought Central Bank approval to set up shop were in the form of the so-called branch-lite units.

The BSP defines branch-lite units as an office or place of business of a bank that performs limited or simpler banking activities. Since these units are limited in the services they are offering, they are also subject to proportionate regulatory framework, which means less strict rules and more flexibility to execute financial strategies and innovations.

The BSP in end-2017 approved the rules on putting up branch-lite units anywhere in the country “to facilitate greater access to efficient and competitive financial products and services.”

Bank of Makati, for example, was given the approval to open up 40 branch-lite branches this year with locations spread to areas out-

side Manila, such as in Marinduque, Mindoro, Camarines Norte, Dumaguete City, Agusan del Sur, Nueva Ecija, Tagbilaran and Catanduanes, among others.

CARD Bank Inc., a microfinanceoriented rural bank, on the other hand, was also given multiple approvals to open up branch-lite units across the country. Their application for 15 branch-lite units was approved with locations seen in Camarines Sur, Abra, Sorsogon, Tarlac, Albay and Pangasinan.

For rural banks, there were 23 branch applications approved by the end of 2018, 17 of which are for branch-lite units.

For thrift banks, meanwhile, 41 approvals were given—all for branch-lite units.

Universa l and commercia l banks, meanwhile, only had four approvals for the year with all of them regular branches. Three of these branch application approvals are from the Bank of the Philippine Islands to put up shops in Iloilo, Batangas and Passi City. The fourth is from the Development Bank of the Philippines to put up shop in Eastern Samar. Bianca Cuaresma

A6 Wednesday, April 10, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Uncompetitive Philippine rice

M

ORE than two decades after the Philippines put in place a nontariff measure aimed at protecting the rice sector, farmers planting the crop are still unable to compete with their counterparts in Southeast Asia. The cost of producing paddy rice in the Philippines is telling, as it is more expensive compared to Thailand and Vietnam. According to a book published in 2016—Competitiveness of Philippine Rice in Asia—the cost of producing paddy rice in irrigated areas was more expensive compared with Thailand and Vietnam. A kilogram of unmilled rice would cost Filipino farmers P12.41 to produce, nearly double the P6.53/kg recorded in Vietnam, according to the book published by the International Rice Research Institute, Philippine Rice Research Institute and the Department of Agriculture (DA).

Twenty two years would have been enough to implement the necessary mechanisms to help farmers prepare for the day when the government would have to let go of the quantitative restriction on rice. But the hard decisions were not made; so the current administration is forced to play catch-up in terms of cushioning the impact of its removal on farmers and the industry. Unfortunately, the problems created by the complacency of past administrations cannot be remedied in just one year. And even then, the current administration lost the sense of urgency required to prepare farmers, busy as it is in managing inflation caused by high rice prices and plugging the production shortfall in the past two years.

The decision to allow the National Food Authority to continue buying unmilled local rice at P20.70/kg is a good move because it would at least give planters some shield from the storm created by the deluge of rice imports (See, “NFA to keep palay buying price at P20.70 a kilo, says DA chief,” in the BusinessMirror, April 8, 2019). The rice trade liberalization law reduced the NFA’s role to a mere buffer-stocking agency. Under the implementing rules and regulations (IRR), the NFA is required to have an inventory of 15 to 30 days worth of national consumption, which is anywhere from 465,000 metric tons to 930,000 MT. But the NFA can no longer sell low-cost rice to the public. This means that the food agency can only buy as much as 930,000 MT from farmers this year, or nearly 5 percent of the target output of 20 million metric tons. Based on the BusinessMirror’s computation using the average paddy production of 4 MT per hectare, this scheme would benefit some 233,000 small farm holders. But there are about 2 million other rice farmers who will be at the mercy of traders, particularly during harvest, when farm-gate prices usually decline.

Unfortunately for the other planters, the cost of producing rice has not gone down. And the magnitude of the losses they will incur will depend largely on how soon the government can roll out interventions to help them cope with the drop in farm-gate prices. Following the signing of the rice trade liberalization bill into law, the market reacted immediately as traders slashed their buying price for paddy in February. What complicated matters for farmers was that harvest has already started in some rice-producing areas.

Immediate attention must be accorded to interventions that will make rice farming competitive and profitable. This is not a simple task, and the government needs to act now if it wants to encourage farmers to continue planting rice.

The government can look at what Vietnam did to boost rice production. Aside from providing subsidies to farmers, Hanoi also reduced input costs and poured money on farm infrastructure, irrigation projects, and research and development.

It would do well for the government to remember that rice accounts for about 15 percent of total agriculture output. This is because rice is the preferred crop of many farmers not only because it is the staple food of Filipinos but also because they can earn after three months. There is simply no incentive for farmers to shift to other long-gestating high-value crops because they need to pay their loans and they need to feed their families.

While it is true that the Philippines does not have something like the Mekong River that can irrigate vast tracts of land in Vietnam, the government cannot just rely on imports. Ensuring the country’s food security is not the responsibility of other countries. It rests on the shoulders of its own planters and all concerned government officials, who should initiate the necessary changes in the country’s agricultural policy.

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BusinessMirror A broader look at today’s business

The lifeblood of terrorism Teddy Locsin Jr.

FREE FIRE Continued from A1

‘S

INCE Resolution 1373,1 the Philippines has complied with the call to counter the financing of terrorism by all means efficient for its containment and extinction. We have defined “terrorist financing” as a separate crime, and are amending our Human Security Act to address the exploitation of cyberspace for terrorism. Without an international regulatory framework for cyberspace, its increasing use of encrypted platforms for transnational terrorist financing will continue to create security challenges.

“We adopted the 2018-2022 National Anti-Money Laundering and Countering the Financing of Terrorism Strategy, in response to the Financial Action Task Force [FATF] Forty Recommendations2 and our own national risk-assessment exercise. At its core is the lesson that financial intelligence units, law-enforcement agencies, the prosecution service and local government units must work together, share information with each other and raise awareness—not just between private and public sectors— but foremost among themselves.

‘Sana,’ true love

✝ Ambassador Antonio L. Cabangon Chua

Susan V. Ople

Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

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BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

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T. Anthony C. Cabangon Lourdes M. Fernandez

Intelligence gathering has been ineffective because agencies were only looking at terrorist acts and not the means that enable it.

“Our Strategy tells us to further tighten our legal and regulatory framework. Here I want to focus on a crucial driver of the Philippine economy: remittances. Standalone money service businesses, particularly remittance agencies, have been used as a channel for terrorist financing. Money transfers through informal channels helped terrorist groups launch the Marawi

L

OVE cannot be forced. It must come of its own free will.

Like the gentle breeze that lifts a kite to kiss the clouds, love shuns any form of oppression. The true essence of love is freedom. You cannot be forced to “feel the feels.”

In the crafting of laws, sometimes love flies out of the window. In a sea of conflicting ideas and stubborn targets, one foregoes the romance in favor of the practical. Of course, the implementers of laws and our legislators would likely say, “what the heck are you talking about?”

I am talking about all these mandatory contributions that an overseas Filipino worker is now required to pay. Ang layo ba? Paano ’yan naging tungkol sa love? Let me explain.

An overseas Filipino workers will shell out all the required contributions because he or she can’t leave the country otherwise. Nauna ang kasal sa ligawan.

The OFWs cannot leave without an overseas employment certificate (OEC) issued by the Philippine Overseas Employment Administration. The draft implementing rules of the new Social Security System

law says that the POEA cannot issue an OEC unless the SSS contributions are paid. Grabe naman.

Hindi naman ’yan requirement ng foreign employer. And yet, there it is. The mandatory SSS membership for OFWs is another pay-beforeyou-leave scheme that our beloved OFWs would have to abide by.

Wait, there’s more. The Universal Health Care Act also prescribes mandatory premiums for our OFWs raised to the nth degree. ’Yung kasalukuyang P2,400, magiging P6,864 in annual premiums that an overseas domestic worker has to pay. How about our skilled workers, which include our world-class seafarers?

Their annual PhilHealth premium will now rise to P16,500.

Hindi ba maganda na lahat tayo may universal health coverage na?

Sobrang ganda nga. Ang tanong: kakayanin ba ito ng isang domestic worker

attack in 2017.

“Remittances account for 9.8 percent of our GDP. Restricting their flow has touched off a cultural nerve of resistance. The challenge is to balance the requirements of counterterrorism and the imperative convenience of those who have struggled in Babylonian captivity to make ends meet in Biblical lands for their families at home. The dilemma has tempted foreign banks to demand they be used exclusively for remittances—at piratical rates.

Bankers will be bankers.

“There too are nonprofit organizations. Contributions they get for laudable purposes are knowingly diverted to—or they are set up precisely as conduits for terrorist financing. These nongovernment organizations operate in the southern Philippines.

“Geographical distribution of threat incidents indicate that some regions are more at risk, hence the need to reinforce counterterrorist mechanisms at the local government level.

“Marawi illustrates the symbiotic relationship between terrorism and the illegal drug trade. With drug money, terrorists were able to gather a motley assortment of well-armed extremists, criminals, mercenaries and foreign terrorist fighters to take

control of Marawi and reestablish in our part of the world their shattered caliphate in the Middle East.

We met them with all-out force and in six months took back Marawi at a fantastic fatality ratio of 165 of our soldiers slain to over a thousand dead jihadi.

“Our counterterrorism efforts are anchored on respecting human rights because a state’s first, foremost and overriding responsibility is to protect the law-abiding against the lawless; and the innocent against those threatening their safety and well-being. To that responsibility my President has made an iron, unwavering and total commitment.

We just don’t care about politically compromised public opinion to the contrary. It won’t be pretty, but we will get them. Thank you. The Philippines is pleased to cosponsor this resolution.”

It was a long morning but not, I think, unproductive. The head of the FATF delivered a detailed but wellwritten and coherent statement—a rare thing with long disquisitions.

bound for Kuwait or Saudi Arabia?

I shared the new computations with our OFWs in Hong Kong during a radio interview with Tita Kerry on Pinoy Saan Man. The reactions came in swift and sharp, accompanied by enraged emoticons. “When did this happen?” “But, why?” “Ang mahal naman!” Benign would not be an apt word to describe the feedback. More so when I read from the matrix provided by a reliable source that five years from now, the minimum premiums of our OFWs for PhilHealth will amount to P12,480.

For SSS, the minimum contribution for OFWs is pegged at P960 for first-time members and a mandatory collection of three months for those coming home for a brief vacation or to renew their contracts with their employers under the Balik-Manggagawa program.

In a joint press conference held on Monday at the Aloha Hotel in Manila, the Blas F. Ople Center, Integrated Seafarers of the Philippines, United Filipino Seafarers, Joint Manning Group and the Philippine Association of Service Exporters Inc. said that the new mandatory contributions should not be tied to the issuance of OECs of OFWs. We shared the common position that our workers should be allowed to leave and earn a salary before all these mandatory contributions kick

in, otherwise their contributions will not be sustainable. We also believe that the POEA should maintain its status as a regulatory body, not a collection agency. Ano ba madalas ginagawa sa kolektor? Iniiwasan, di ba? Paano kapag iwasan na ng OFWs ang POEA? That is why all these mandatory schemes will have temporary value because without true love, these things would not become sustainable.

In addressing urgent and vital public-health issues and strengthening the SSS as a financial institution, our workers may just leave through the backdoor, thus causing a new wave of problems.

PhilHealth should also be on guard against issuance of fake receipts by syndicates to unsuspecting OFWs since no one has been punished for it in the past. Some liaison officers of licensed recruitment agencies who intentionally pocketed the contributions of OFWs issued fake receipts to unsuspecting workers. The workers only found out about the fake receipts when it was time to claim their medical reimbursements.

In 2016, there were at least 201 confirmed cases of fake PhilHealth official receipts issued to OFWs involving around P17.4 million in unremitted collections. No one was convicted of the crime. Do we want a resurrection of such cases?

See “Ople,” A7

1S/RES/1373 (2001), Creation of Counter Terrorism Committee (CTC).

2The FATF Forty Recommendations are the internationally endorsed global standards against money laundering and terrorist financing.

Opinion BusinessMirror

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Wednesday, April 10, 2019 A7

Balancing competitive Understanding insurance accounting markets and public interest Atty. Dennis B. Funa

INSURANCE FORUM

Atty. Johannes Benjamin R. Bernabe

Competition Matters

A

DEBATE which remains unsettled within not only the Philippine Competition Commission (PCC), but in other competition authorities around the world as well, is the extent to which “public interest” should influence the decisions and policies made by these agencies. While the answer may seem obvious, there are nuances that make a straightforward resolution more elusive than what meets the eye.

To be clear, public interest in this context refers to considerations broader than market competition and consumer welfare as explicitly espoused in the Philippine Competition Act. The public interest discussed in this article partakes of the nature of certain policy objectives such as, among others, health, employment, national security and sustainable development through the adoption of environmentally sensitive measures. These policy objectives may not be synonymous with, but could generally pass as forming part of that notion called public interest. They are not expressly provided or mentioned in the PCA, but are widely-accepted enough to be arguably implicitly embedded in any government agency’s framework for implementation of its legal mandate.

Or should they?

A competition authority from a developing country similarly situated as the Philippines, in this case the South African Competition Commission (SACC), invoked public interest when it imposed conditions on its clearance of the merger between two agrochemical giants, Monsanto and Bayer, last year. In its decision, SACC required the prospective buyer of assets (to be divested as a result of the merger clearance) to license the use of such assets to a South African entity with Black Economic Empowerment (BEE) credentials.

(N.B. BEE is a program of the South African government that gives its black citizens privileges and preference in economic opportunities over white citizens.) This condition was required as part of the public interest in ensuring that South Africa will directly benefit from the divestiture of the global businesses of Bayer.

The PCC itself had the possibility to take into account public interest when it reviewed the acquisition

by Japan Tobacco International Philippines Inc.’s of Mighty (Tobacco) Corp. in 2018. Merger review typically focuses on the ability of the merging firms to increase the price of the relevant products after their transaction. In this case, an issue that was raised was whether the merged entities’ ability to raise prices should matter, given that the products concerned were cigarettes and tobacco products, which are recognized health risks. In other words, even if the merger would result in higher prices for cigarettes, given the public interest of ensuring the health of the nation’s citizenry, should the PCC prohibit the merger?

The Commission decided —rightly so—not to take this public interest issue into account when deciding the case, on the reasoning that its analysis should be limited to the generally

Ople. . .

continued from A6

True love, sana. Let our overseas workers choose where to belong, when to pay and how much. Umalis na nga sila ng bansa para suportahan mga pamilya nila. Bago pa ba sila sumuweldo, kakaltasan na sila ng mga dambuhalang institusyon tulad ng SSS at PhilHealth?

I know that we all have to contribute our share to ensure the financial security and continuance

accepted competition assessment tool kit. Moreover, the Commission firmly believed that in this case, there are other more appropriate policy instruments available to the government in addressing its public health objectives.

There will certainly arise other situations in the future when the Commission will be compelled to carefully balance competition law enforcement against the broader public interest. Much advice has been given about the need for young competition agencies like the PCC to stick to evidence-based competition analysis when evaluating the likely effects of mergers, and to dispense with public interest considerations when ruling on cases. Supposedly, a more robust analysis that relies on the application of competition disciplines will better withstand legal challenge and lend more credibility to the Commission’s decisions. Further, this school of thought suggests that reliance on amorphous public interest reasons as basis for its decisions gives rise to too much subjectivity and lack of predictability in what is already conceded to be a field of law that depends heavily on economic context.

On the other hand, turning a blind eye to public interest could lead the PCC to being trapped in an ivory tower, where it limits its perspective solely to competition issues, while the rest of the world turns. Clearly, the Commission has to be able to balance its primordial duty to uphold competition and consumer welfare, while at the same time having the requisite sensitivity to issues that afflict the world outside the markets it examines.

Toward this end, the Commission should continue to hone this dual awareness in its less contentious policy advisory role where it provides inputs to proposed laws and regulations of the legislature and other government agencies. For instance, bills that suggest incentives to facilitate the development of certain economic activities are often referred to the PCC. Incentives or subsidies are traditionally seen as capable of distorting the playing field and thus liable to raise competition concerns, and yet, these must be assessed visà-vis other policy objectives such as the need to promote clean energy to address climate change.

In time, the PCC should get the balance of interests right.

Commissioner Bernabe served as adviser to the Senate and the House of Representatives in the drafting of, and deliberations on, the Philippine Competition Act. A lawyer by profession, he was a senior fellow at the Geneva-based International Centre for Trade and Sustainable Development and served as the Philippines’s lead trade negotiator on select issues at the World Trade Organization, also in Geneva, Switzerland.

of programs and services of social protection institutions. I know that our OFWs also deserve to be covered

by SSS and PhilHealth. They understand this, but they do not understand the manner by which they are being forced to pay up. No contributions, no jobs. Tama ba naman ’yon?

True love, sana. That’s all we ask.

Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the Inter-Agency Council Against Trafficking.

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CCORDING to the American Institute of Certified Public Accountants, “accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part at least, of a financial character and interpreting the result thereof.” Internationally, accounting standards are set by the International Accounting Standards Board. Domestically, accounting standards are set by the Philippine Financial Reporting Standards (PFRS) Council under the oversight of the Board of Accountancy.

Insurance accounting, on the other hand, is governed by special accounting rules known as statutory accounting principles (SAP). It has a special focus on the solvency of insurance companies. The term “statutory” connotes that these accounting rules are governed by a law, or in the case of the Philippines, by regulation of the Insurance Commissioner. In other words, insurance accounting is regulated by the Insurance Commissioner. It is the Commissioner who defines the accounting rules. Conservatism is mandated and paramount, and the interest of the policyholder is given priority. Thus, as observed

by Diane Perez: “An insurance company’s annual statement indicates its value as if it were in liquidation rather than continuing in business.

This is a more conservative value, as a company cannot include revenue that has not been invoiced. For example, when an insurance company pays a claim, it invoices any coinsurer for partial reimbursement. If the insurance company did not prepare the coinsurer’s invoice before the fiscal year ended, this revenue cannot be included on the annual statement.

The insurance company must report the full amount it paid on the claim, without credit for future reimbursement.”

Hence, we can say that GAAP does not apply to insurance companies in

its totality. It is also noted that SAP focuses more on the balance sheet, as opposed to the GAAP focusing more on the income statement. A balance sheet presents a picture of a company’s financial position at one moment in time, its assets and its liabilities; while the income statement provides a record of the company’s operating results from the previous period.

The insurance accounting practice is, therefore, a specialist area that requires expertise and an understanding of the insurance sector. It is, perhaps, more important to note that SAP applies only to the insurance industry as all other industries use the GAAP. Insurance companies report to the Securities and Exchange Commission (SEC) using the GAAP applying the PFRS. On the other hand, they report to the Insurance Commission using the SAP. In other words, there are two reporting frameworks. Insurance accounting is regulated by the Insurance Commissioner through the Financial Reporting Framework (FRF) under Section 189 of the Amended Insurance Code.

Hence, as provided under Section 189: “Financial reporting framework means a set of accounting and reporting principles, standards, interpretations and pronouncements that must be adopted in the preparation and submission of the statutory financial

statements and reports required by the Commission. This financial reporting framework is not the same as the financial reporting framework used to prepare the financial statements that the Securities and Exchange Commission may require.”

Insurance accounting also has variations between the nonlife business (also called general insurance or the property/casualty insurance) and the life business.

Why the difference between SAP and the GAAP?

THE underlying peculiarities of the insurance business makes insurance accounting or SAP necessary. The insurance business has many interesting attributes that are not present in other forms of businesses. Notably, an insurance business would have cash premiums paid in advance and claim liabilities that have not yet been discharged. Furthermore, in the life insurance business, policy contracts are issued where a claim may not be made within the next 50 years but a liability should already be reported. Of course, life insurance in 16th century England started out as short term, often as one-year insurance policies. In the nonlife business, the time period when a claim may occur is shorter, but nonetheless, the insurer does not know how many claims will be made, when they will be paid or the final amount to be paid.

Since the supervisory regulator represents the interests of policyholders, the regulator should follow a conservative approach “by taking account of various contingent liabilities as if they were real liabilities.” Furthermore, the GAAP assumes that a company will continue to do business (the Going Concern Concept) whereas the SAP assumes that the insurer may have to be liquidated in the near future (the Liquidation Concept).

To illustrate this on the subject of Asset Valuation, the Insurance Information Institute explains: “Property/ casualty companies need to be able to pay predictable claims promptly and also to raise cash quickly to pay for a large number of claims in case of a

hurricane or other disaster. Therefore, most of their assets are high quality, income-paying government and corporate bonds that are generally held to maturity. Under SAP, they are valued at amortized cost rather than their current market cost. This produces a relatively stable bond asset value from year to year (and reflects the expected use of the asset.)

“However, when prevailing interest rates are higher than bonds’ coupon rates, amortized cost overstates asset value, producing a higher value than one based on the market.

[Under the amortized cost method, the difference between the cost of a bond at the date of purchase and its face value at maturity is accounted for on the balance sheet by gradually changing the bond’s value. This entails increasing its value from the purchase price when the bond was bought at a discount and decreasing it when the bond was bought at a premium.] Under GAAP, bonds may be valued at market price or recorded at amortized cost, depending on whether the insurer plans to hold them to maturity [amortized cost] or make them available for sale or active trading [market value].

“The second-largest asset category for property/casualty companies, preferred and common stocks, is valued at market price. Life insurance companies generally hold a small percentage of their assets in preferred or common stock.

“Some assets are ‘non-admitted’ under SAP and therefore assigned a zero value but are included under GAAP. Examples are premiums overdue by 90 days and office furniture.

Real estate and mortgages make up a small fraction of a property/casualty company’s assets because they are relatively illiquid. Life insurance companies, whose liabilities are longer term commitments, have a greater portion of their investments in commercial mortgages.”

Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016.

E-mail: dennisfuna@yahoo.com.

Oil becomes a curse for Middle East economic change

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By Julian Lee | Bloomberg Opinion

RIP by drip, the oil-producing countries of the Middle East are watching their share of the global crude market drain away. US production is soaring and shows no sign of slowing, while climate-change concerns and advancing clean energy technology could put a cap on demand by the middle of the century. The need for Middle East countries to diversify their economies away from oil has never been stronger.

The Organization of the Petroleum Exporting Countries members of the Arabian Peninsula (Saudi Arabia, the United Arab Emirates and Kuwait) have traditionally borne the brunt of the group’s attempts to balance oil supply and demand, and that’s not changing. Not only do their high production levels mean that they’re asked to make the biggest cuts in volume but they’re also the countries that have the best record of honoring their pledges.

Iran and Iraq, the other two Middle East Opec members, have a patchier record of adhering to their production targets.

The latest round of supply management, which began in January, has seen this pattern repeated. Saudi Arabia, the UAE, and Kuwait shouldered more than 60 percent of the agreed cut from Opec countries. In the first two months of the deal’s implementation they accounted for 85 percent of the actual cuts made by the Opec members.

There is no sign that this need for restraint will end anytime soon. US oil production has overtaken both Saudi Arabia and Russia, previously the world’s two biggest producers.

Over the past two-and-a-half years there’s been a 4 million barrel-a-day swing in oil production away from Saudi Arabia and toward the US. The US Department of Energy forecasts that America’s production will rise to 13.5 million barrels a day by the end of 2020. That’s more than the

combined current daily production of Saudi Arabia and the UAE. If the short term looks challenging for Middle East oil producers, the longer term is even more daunting.

There is a growing consensus that growth in world oil demand will slow to near zero sometime in the first half of this century. Opinions still differ widely on when that might happen, but countries sitting atop proven reserves that will last many decades at current rates of production should be concerned. The idea that some of their oil may never be produced changes the entire valuation of reserves in the Middle East.

The traditional argument that oil reserves in the ground would become more valuable as demand kept growing and other supplies dwindled has been turned on its head. Some of those reserves may end up having no value at all.

A steady rise in the price of oil can no longer be taken for granted, and this may change the calculation of whether to conserve or produce more quickly the huge volumes of hydrocarbons locked beneath the sands and seas of the Middle East. One way of accelerating oil production would be to open up the upstream oil sector (exploration and production) to foreign investors. This has been extremely successful in Iraq, where production has doubled since 2010, following the awarding of contracts to rehabilitate fields in the south of the country to consortia of foreign

If the short term looks challenging for Middle East oil producers, the longer term is even more daunting. There is a growing consensus that growth in world oil demand will slow to near zero sometime in the first half of this century.

companies. The UAE, too, has relied on foreign investment to supplement the state oil company’s activities.

The situations in Saudi Arabia and Kuwait are rather different, though.

“There is no intention whatsoever to chip away at Aramco’s exclusivity and its concession,” Saudi Energy Minister Khalid Al-Falih told reporters in January when asked whether the opening up of the state-owned oil company Saudi Aramco to international investors would extend to upstream oil and gas assets.

Foreign participation in the Saudi oil sector is too easily portrayed by opponents as a return to the prenationalization era of the 1950s and 1960s. Back then the oil industry was controlled by foreign companies that had been granted concessions covering vast swaths of the country and lasting for decades. It was the conflicts between governments and foreign oil companies over revenue and control that led to the formation of Opec in 1960.

In Kuwait, the government plans to bring foreign investors into the upstream oil sector have faced parliamentary opposition for decades.

In 1998 the government invited foreign oil companies to invest in Project Kuwait, a $7-billion plan to expand production out of five oil fields in the north of the country.

Twenty years on, Project Kuwait remains unfulfilled.

The government opted for an operation service agreement model

for Project Kuwait—one that would give the companies a risk-and-reward element but wouldn’t contravene Kuwait’s constitution, which forbids foreign ownership of natural resources. The government’s hope to avoid the need for parliamentary approval of the project once the terms had been approved was dashed when the National Assembly decided in late 1998 that it intended to have a direct say in any opening of the oil sector to foreign investors. The stage was set for what has become a protracted wrangle between the government and parliament over the project.

Opponents of Project Kuwait argue that the country’s state-owned oil company, Kuwait Petroleum Corp., has the capability to develop the fields on its own and that the presence of foreign oil companies for the 20- or 30-year duration of the contracts would breach Kuwait’s constitution. There was also deep suspicion among some in parliament about how foreign companies have been selected, with allegations ranging from a lack of transparency on the part of the government to accusations of rampant corruption.

As the oil-rich countries of the Middle East seek to diversify their economies, these principles of resource nationalism remain prominent in Saudi Arabia and Kuwait, closing off a source of inward investment and potential employment in those countries. Meanwhile, attempts to diversify these economies seem to revolve around using more of the crude they pump by refining it into fuels or petrochemical products, or investing sovereign wealth funds outside the country.

The first isn’t diversification, and the second, while it may generate income, provides little benefit in terms of domestic employment.

True economic diversification still seems a long way off.

2nd Front Page BusinessMirror

A8 Wednesday, April 10, 2019

www.businessmirror.com.ph

Govt prepares to fly out OFWs from Libya 1,000

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By Recto Mercene @rectomercene & Samuel P. Medenilla @sam_medenilla

HE Department of Foreign Affairs (DFA) reiterated on Tuesday that travel to Libya by Filipinos working in the conflict-affected areas will not be allowed until the situation in the country stabilizes and the alert level is lowered back to 2.

Number of Filipinos located in conflict-affected areas in Libya

Shortly after raising Alert Level 3 over the country, the DFA advised Filipinos in areas near the fighting to move to safer areas or request the Philippine Embassy for assistance in their repatriation before the fighting intensifies.

“The embassy will remain open

to respond to requests for assistance from Filipinos who might be affected by the fighting,” the DFA added.

The DFA raised Alert Level 3 in Libya at the weekend, urging Filipinos in Tripoli and nearby areas, including their dependents, to prepare for repatriation to avoid getting caught in the middle of ongoing clashes between rival factions.

Preps for repatriation

FOLLOWING the recent escalation of conflict in Libya, the government is now preparing for the voluntary repatriation of overseas Filipino workers (OFWs) in the

‘Allow farmers to monitor RCEF use’

By Cai U. Ordinario @caiordinario

& Jasper Emmanuel Y. Arcalas

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@jearcalas

ARMERS and other rice industry stakeholders have expressed concern over their removal in the committee that will oversee the implementation of the P10-billion fund under the new rice trade regime.

Raul Q. Montemayor, Federation of Free Farmers Inc. national manager, said the implementing rules and regulations (IRR) of the rice trade liberalization law excluded farmers and other stakeholders from the program steering committee (PSC).

The PSC is supposed to oversee and provide policy direction for the implementation of programs funded by the P10-billion Rice Competitiveness Enhancement Fund (RCEF).

However, Montemayor said the IRR removed representatives from the Philippine Council for Agriculture and Fisheries (PCAF) Food Sta-

ples Committee (FSC) and Agriculture and Fisheries Mechanization Committee (AFMC) as members of the PSC. In the IRR drafts seen by the BusinessMirror, representatives from the two PCAF committees were part of the PSC. This was also pointed out by Montemayor.

Under the IRR, the PSC will be chaired by the agriculture secretary and cochaired by the socioeconomic planning secretary with the heads of the implementing agencies of the RCEF as its members.

“In previous versions, they had accepted our proposal to include representatives from the PCAF committees on food staples and on agri-mechanization in the PSC. I do not understand why they took it out,” Montemayor told the BusinessMirror.

“If the law and the RCEF are supposed to assist farmers, what is the problem with farmers sharing their insights and observations in the PSC so that proper adjustments can be made in program implementation?” he added.

EASTERLIES AFFECTING CENTRAL AND SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - April 9, 2019

Transparency

FORMER Agriculture Undersecretary for Policy and Planning Segfredo R. Serrano said the participation of rice farmers in the PSC is of “utmost importance” as they could provide guidance on how the RCEF should help them “survive and compete” under the new trade regime.

“It is of utmost importance because they will have a say in the support that is necessary for them to survive and compete,” Serrano told the BusinessMirror. “It is also important that the process of decision-making and implementation be transparent to the public especially the farmers and the industry.”

Serrano said the IRR could have accommodated the participation of farmers in the PSC even as “observers or resource persons.”

“Farmers must have ownership of the disposition of the funds and that the program be isolated from politics and be truly for the real needs and welfare of the farmers,”

he added.

Serrano said the utilization plan of the RCEF should be reviewed by the PCAF and the National Agriculture and Fisheries Council to ensure transparency and provide “adequate comfort” to stakeholders.

war-torn North African state.

Labor Secretary Silvestre H. Bello III issued the statement after getting unofficial reports the DFA raised the crisis alert level for Libya from 2 or restriction phase to Level 3 or the voluntary repatriation phase. “This means we will be assisting those who would want to be repatriated,” Bello said in a radio interview.

He said OFWs, who would like to avail themselves of the repatriation assistance may contact the Philippine Embassy and Philippine Overseas Labor Office (POLO) in the Libyan capital of Tripoli.

The DOLE said the government will shoulder the repatriation cost

and provide OFWs aid upon their arrival in Manila. “We will provide them financial assistance and livelihood assistance,” Bello said.

The labor chief said most of the remaining OFW in Libya are engineers and construction workers.

Alert raising explained

IN raising the Alert Level from 2 (Restriction Phase) to 3 (Voluntary Repatriation), the Department cited its obligation to ensure the safety and security of all Filipino nationals overseas.

The Embassy in Tripoli gave the recommendation to raise the See “Libya,” A4

DENR team combs El Nido beach, unearths illegal pipe

‘Not necessary’

THE National Economic and Development Authority (Neda) said farmers’ participation in monitoring the rice fund was no longer necessary; that’s why this was not included in the IRR of the new law.

Farmers’ groups, Neda Regional Development Office Assistant Secretary Mercedita A. Sombilla said, are already part of committees in the Department of Agriculture (DA) that will participate in the monitoring of the rice fund.

“They already have representation, whether the PCAF was stated in the IRR or not. That’s what everybody is saying,” Sombilla said.

“The other reason is their leaders and members are already part of the various committees of the DA. So [this would be tantamount to] double counting. Even the DA agreed to that.”

The IRR details the establishment of the RCEF and how P10 billion from the General Appropriations Act will be transferred directly to implementing agencies.

Similarly, the document also sets the guidelines on the allocation of the tariff revenues in excess of P10 billion. This will be tapped to provide direct financial assistance to rice farmers adversely affected by the new rice import regime

Rebars. . .

Continued from A1

Lopez found it necessary to intensify the campaign against substandards, as recent DTI monitoring discovered their proliferation in Central Luzon and Southern Tagalog stores.

“All monitoring done nationwide, but recently issued notice of violations [are] mostly in Regions 3, 4A and 4B. They [violators] are given time to explain, but if [we find] sufficient grounds, we file cases,” Lopez told the BusinessMirror.

The Pisi in its report claimed it found substandard steel bars being sold in the Cordillera, produced by Wan Chiong Steel Corp.—whose operations were suspended by the DTI last year—as well as Real Steel Manufacturing Corp., United Steel Master Manufacturing Corp. and Maxima Steel Mills Corp.

The mills of the four steel manufacturers accused of producing inferior rebars are situated within and around Central Luzon. Wan Chiong and Real Steel are operating in Pampanga, while United Steel and Maxima are based in Valenzuela City.

Thetradechiefdidnotstatehowmanynoticesof violationtheDTIissuedoverthepastmonths,butsaid half of those ticketed were charged and penalized in accordance with laws on product standards and fair trade.

Concrete reinforcing steel bar, also known as rebar, is primarily used for the construction of houses. It functions as a tension device in reinforced concretes that fortifies and supports the concrete under tension.

TOURISTS watch from a wooden balcony of a hotel-cum-resort as a backhoe unearths an illegally installed PVC pipe discovered by DENR-MGB personnel using a ground penetrating radar. CONTRIBUTED PHOTO FROM DENR-MIMAROPA REGION OFFICE

By Jonathan L. Mayuga

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@jonlmayuga

HE Department of Environment and Natural Resources (DENR) has started the search for illegally installed sewer lines and removed a PVC pipe used by an erring establishment in El Nido, Palawan, to discharge untreated wastewater out to the beach area.

DENR-Mimaropa Regional Executive Director Henry Adornado ordered the immediate removal of the sewage line which violates provisions of Presidential Decree 1067 or the Water Code of the Philippines.

The law prohibits any structure within the easement zones without permission from the government.

“The law is clear, and so was our appeal to everybody to cooperate with us in rehabilitating El Nido. We will continue to implement measures to find out if there are others who are doing the same and continuously disregarding our call to follow the rule of law. We will hold them responsible,” he said in a statement.

The DENR’s Central and Mimaropa Regional offices of the Mines and Geosciences Bureau (MGB) used ground penetrating radar (GPR) to detect any hidden pipes in El Nido beach resort as part of the ongoing effort to rehabilitate the top tourist destination in the Mimaropa region.

The pipe, measuring 6 inches in diameter and 6 meters in length, was uncovered in front of Outpost Beach Hostel in Barangay Corong-corong.

It was also found discharging black and foul-smelling liquid directly into Bacuit Bay, one of the province’s ecotourism sites undergoing massive rehabilitation.

The regional Environmental Management Bureau (EMB) used a green tracer solution into Outpost Beach Hostel’s last chamber to which the excavated pipe was connected, confirm-

ing the source of the polluted waters that flow out from the pipe.

The DENR is conducting further investigation to determine if there are other sources of wastewater discharge aside from the hotel.

Paul Sepulveda, one of the co-owners of Outpost Beach Hostel, admitted that they owned the pipe and volunteered to cut the line although he insisted they have a discharge permit, and the effluent samples taken from their sewage treatment facility passed the water quality guidelines of the DENR. The establishment was earlier issued a Notice of Violation by the EMB for releasing wastewater exceeding the standards.

Last year, the DENR created Task Force El Nido to spearhead the restoration of the famous island paradise found beset by environmental problems, such as encroachment of easement zones and high coliform levels in Bacuit Bay. The DENR and the local government unit of El Nido organized several stakeholder meetings to engage residents and business establishment owners in restoring the beauty and cleanliness of the place.

Under the directive of Secretary Roy A. Cimatu, the DENR Mimaropa region vowed to be more aggressive in enforcing the laws.

“We have to remind everyone that we are preparing Bacuit Bay as Water Quality Management Area so we shall be conducting regular water sampling and analysis not only to Outpost Beach Hostel but also to other establishments to ensure they do not discharge untreated wastewater into Bacuit Bay,” EMB Regional Director Michael Drake Matias said for his part.

Besides regular effluent sampling, the DENR and the MGB have been conducting a GPR survey of the coastal areas of El Nido since March 18 to detect buried waste pipelines.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, April 10, 2019

B1

SEC drafts guidelines to revive firms that expired pre-RA 11232

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By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has drafted the guidelines on the revival of corporations whose terms have expired prior to the enactment of Republic Act 11232, on the Revised Corporation Code of the Philippines.

As part of the shift to a perpetual corporate term, the code allows an expired corporation to apply for the revival of its existence, together with all the rights and privileges under its certificate of incorporation and subject to all of its duties, debts and liabilities existing prior to its revival.

“The revival of expired corporations will ultimately benefit our society,” SEC Chairman Emilio B. Aquino said.

“This will translate to more market players competing, introducing innovations and more choices, and creating employment opportunities, among others,” he said.

Under the draft guidelines, an expired corporation seeking to revive

its existence shall file with the SEC a verified petition for revival and signed by a majority of the board of directors or trustees, the corporate secretary and the corporate treasurer.

The petition must state, among others, that the revival of the corporation was approved by a vote of at least two-thirds of the outstanding capital stock, or members for nonstock corporation; that there is no intracorporate controversy; and that no third persons nor government agency will be prejudiced by the corporation’s revival.

The corporation shall submit supporting documents such as certificate of incorporation and articles of incorporation; general information

sheet; audited financial statements; balance sheet; tax clearance certificate; and copy of official receipts for the payment of the petition fee and filing fee.

The SEC shall also require a favorable recommendation from the appropriate government agency in the case of banks, banking and quasi-banking institutions, preneed, insurance and trust companies, nonstock savings and loan associations, pawnshops, corporations engaged in money service business and other financial intermediaries.

The corporation shall then pay a petition fee amounting to P3,030 plus a filing fee for the extension of term of existence, pursuant to SEC Memorandum Circular 3, series of 2017.

The SEC En Banc shall approve the petition and issue a certificate of revival of corporate existence. The certificate shall provide for perpetual corporate existence unless the corporation states a specific corporate term in its verified petition.

A corporation whose certificate of registration has been revoked and whose corporate term has expired, for reasons other than the nonfiling of reports, shall not be allowed to revive its corporate existence.

Meanwhile, a corporation whose

certificate of registration has been suspended and whose term of existence has expired may apply for revival, provided it files the proper petition to lift its suspension, which may be incorporated in its petition for revival, and settles the corresponding penalties thereof.

Revival shall also not be applicable to expired or dissolved corporations, which already availed of reregistration.

A revived corporation shall be given a period of not more than two years from the issuance of the certificate of revival to comply with the provisions of the Revised Corporation Code.

Prior to the enactment of the Revised Corporation Code, corporate terms were capped at 50 years. A corporation, however, could extend its existence for periods not exceeding 50 years by amending its articles of incorporation.

Reviving an expired corporation then entailed re-registration, a procedure where an entirely new corporation is organized, but under the name of the expired corporation. In reregistration, the SEC will issue a new certificate of registration, registration number and tax identification number, among others.

Realme reports 900% sales hike for newest entry level phone

PAL to embark on another refleeting program if natl govt bolsters PHL airport infrastructure

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LAG-CARRIER Philippine Airlines (PAL) may embark on another mass refleeting program once the government fixes the airport infrastructure limitations in capital city Manila and other provincial hubs.

Jaime J. Bautista, the company’s president, said constraints at the Ninoy Aquino International Airport (Naia) and other Philippine airports are limiting the airline from further expanding its fleet to serve the huge demand for point-to-point connectivity.

“So what we need for now is for our airports to be fixed. We need to get additional slots before we embark again on a major refleeting program,” he said.

Currently, the government is entertaining several proposals for airport infrastructure devel-

M A RTPHONE ma ker realme has noted a 900-percent spike in sales growth for its newest entry-level phone introduced just recently in the Philippines, the realme 3.

Jacky Chen, the company’s COO, said his group has seen its offline sales channel grow by 900 percent this year, compared to its first offline sale last year, thanks to its aggressive stance of expanding its kiosks to more provinces nationwide.

“Our stores nationwide received overflowing interest and positive feedback from preorder customers, which results in 900 percent higher sales growth compared with our first weekend of selling alone,” he said.

This year, the smartphone brand is building a total of 100 concept kiosks nationwide as part of its offline sales channels.

“This clearly reflects that Filipinos truly discover and appreciate real value that the realme 3 can provide. To let more Filipinos discover this real value, we will strive to provide the realme 3 to more locations nationwide,” Chen added.

Packed with a MediaTek Helio P60 processor, 4GB R AM and 64GB expandable storage, and a 13MP front camera and a rear 13MP main camera plus 2MP secondary camera, the realme 3 was introduced on March 20.

It is an entry-level phone whose price ranges from P6,990 to P9,990.

Lorenz S. Marasigan

By Lorenz S. Marasigan @lorenzmarasigan

F

opment for Manila and other provincial hubs.

For the capital city, it is reviewing the proposal of Naia Consortium—a group of seven Filipino conglomerates—to rehabilitate and expand Naia.

It is also reviewing various proposals from Aboitiz Infra Capital Inc., Chelsea Logistics Holdings Inc., Mega7 Construction Corp. and Philippine Airport Ground Support Solutions Inc. for the development of hubs in Bohol, Laguindingan, Davao, Siargao and Bacolod, among others.

For Bautista, the development of these airports into hubs could trigger another mass-fleet expansion initiative for his company to address the demand for more direct services.

The company is studying the pu rc h a se of new generat ion planes—fuel-efficient ones—to further its reach in Asia, Europe

and the United States.

For 2019, its fleet modernization program involves the acquisition of six modern airliners, namely two Airbus A350s, two Airbus A321 neos and two Bombardier Q400s.

The first of the six orders arrived in February, an A350 bearing the signature Love Bus logo from the 1970s.

PAL Spokesman Cielo V. Villaluna noted the company will be retiring old A321s and old- generation Q400s, to end the year with “close to 100 planes.”

Currently, PAL has a fleet of 98 planes, consisting of five Airbus A350-900 XWB, 10 Boeing 777300ER, two Airbus A340-313, 15 Airbus A330-343, 24 Airbus A321231, six Airbus A321-271neo, seven Airbus A320-214, 12 Airbus A320-214, three Bombardier Q400, 10 Bombardier Q400 NG and four Bombardier Q300.

19 companies interested to build 50,000 telco towers nationwide

By Jovee Marie N. Dela Cruz @joveemarie

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IVEN the number of common towers to be installed, the Department of Information and Communications Technology (DICT) said 19 tower companies are interested to do business in the country.

Acting DICT Secretary Eliseo Rio Jr. said DICT was able to get 19 tower companies, adding these firms have already signed a memorandum of understanding with the department.

Earlier, Rio said the proposal for the deployment of common telco towers in the Philippines is illegal and anticompetitive as it limits the number of providers to two, while infringing on the rights of congressional telco franchise holders. “[I think] he—Ramon Jacinto, the presidential adviser on economic affairs and information technology communications—already softened up on the [duopoly] issue,” said Rio following the hearing of the House Committee on Information and Communications Technology on Monday. Rio also said the Philippine Competition Commission, the Office of the Solicitor General and industry stakeholders have flagged the proposal for its anticompetitive nature, given that under the proposed rules, only two tower companies will be accredited by the government to build 50,000 towers across the Philippines during the nascent stage of its implementation.

“This is a proof of concept which we are undergoing. Just give us three months to know which of the 19 tower companies will be chosen by telcos so that we can narrow down the number to what the industry can accommodate,” Rio said.

The 19 local and international companies that signed the memorandum of understanding with DICT include Aboitiz, China Energy Equipment Co. Ltd., Edotco Group Sdn. Bhd., IHS Holdings Ltd., ISOC Asia Telecom Towers, ISON, MGS Construction Inc., RT Telecom Sdn. Bhd., American Towers Inc. and Frontier Tower Associates Management Pte. Ltd. GNI-J Tower Inc Consortium, JS Cruz Construction and Development Inc., Dessarrollos Terrestres Inc., Shin Heung, Alt Global Inc., CREI Management Services FZE, Tamoin Industrial Services Corp., EEI Corp. and Tiger Infrastructure Pte. Ltd. are also included.

However, Rio said it will be the telcos, and not the DICT, that will select the tower companies since the telcos are the clients who are in a better position to select who will

be their tower companies.

Rio said there is a need to build more or less 50,000 towers over and above the 18,000 towers that have been mainly installed by telecommunications companies (telcos) Globe and Smart and for a while, by Sun. He added the Philippines was ahead of Vietnam in rolling out the GSM network by about five years.

“But now, Vietnam has 70,000 more or so towers as against our 18,000 towers,” Rio said.

He said the DICT came up with a formula to attract common-tower providers to invest in the Philippines.

He said the amount to install the 50,000 common towers will require a $4.5-billion investment.

“This investment will not come from the telcos, but from tower companies that will invest in the country,” he said.

He said the DICT invited tower companies to come to the Philippines and have a chance to talk with telcos.

“Once they get a business transaction with the telco, we tell them to come back to us to sign a binding memorandum of understanding depending on the number of towers that business transaction entails,” Rio said.

He said the DICT will facilitate the issuance of permits for the installation of common towers.

He also assured the telcos the DICT will not touch their existing towers as “we will go into the new 50,000 towers that our country needs.”

“This is also to prove to the telcos the government had the determination to facilitate the coming up of permits, one of the problems of telcos in installing a tower. We need about 25 permits, more or less, to come up with one tower,” Rio said.

He said the DICT can come up with a one-stop shop to process these permits. Rio said they are laying out 1,000 possible sites, some of which came from telcos themselves and the sites that the DICT has control over.

He said the DICT had formed a technical working group with telcos where they will now come up with the 1,000 sites, which they agreed will be common towers to be shared with them.

He said anybody, including the government, can use the towers.

“We will be one of the biggest users of these towers as we need these badly in the propagation of the free Wi-fi. The lack of infrastructure in remote places has made it hard for us bring free Wi-fi to displaced areas,” Rio said.

Globe Telecom, Smart Communications and Mislatel have expressed their support for the common-tower policy.

Mitsubishi Motors asks NG to remove import duty on hybrid vehicles

I

NDUSTRY powerhouse Mitsubishi Motors Philippines Corp.

(MMPC) is negotiating with the government to eliminate import duty and lower excise on hybrid vehicles to make the market conducive for this new type of automobile.

In an interview with reporters late Monday, Vice President for Corporate Public Relations Renato S. Lampano said MMPC is pushing to remove tariffs on hybrid cars, especially t eyeing to bring in its plug-in hybrid SUV Mitsubishi Outlander PHEV to the Philippine market. Lampano said import duty on a pure electric vehicle is at 30 percent, while it is 20 percent for a hybrid. “What we want right now is to reduce not only the excise, but also eliminate the customs duty,” Lampano said.

Under the Tax Reform for Acceleration and Inclusion law, excise on hybrid vehicles is placed at 50 percent. No excise is imposed on electric-

RAFAELITA ALDABA (second from left), Undersecretary of the Department of Trade and Industry, receives a token of appreciation as a keynote speaker on Monday night during the Mitsubishi Motors 1 Million Unit sales milestone celebration held at Makati Shangri-La Hotel in Makati City. Flanking her are Takehiro Kano (second from right), deputy chief of Mission of Embassy of Japan; Yoichiro Yatabe (left), corporate vice president of Mitsubishi Motors Corp.; and Mutsuhiro Oshikiri, Mitsubishi Motors Philippines Corp. president and CEO. ROY DOMINGO

powered cars.

“If you are able to cut that down, that will make our product competitive in the market,” Lampano said.

MMPC is under pressure to introduce its own brand of hybrid to the local market, after competitors are beginning to bring their own to

the Philippines. Lampano explained MMPC can, but in the right time and environment.

This was seconded by MMPC

President and CEO Mutsuhiro Oshikiri, who said the firm is ready to introduce its hybrid car, but is awaiting reforms on taxes and infrastructure to be completed. He added MMPC will always be on a par with its competitors; timing, however, is key to succeeding in virgin markets, such as electric-powered and hybrid vehicles. “We are ready to go, but we have to finalize yet,” Oshikiri said in a news briefing late Monday.

MMPC, together with the Department of Trade and Industry, is conducting an assessment on how Filipinos will respond to the introduction of hybrid automobiles. The study, Lampano said, is scheduled to be released within the month.

MMPC had just celebrated its milestone of 1 million sales. It continues to thrive in the vehicle industry, placing second among domestic players just behind dominant Toyota Motors Philippines Corp. Elijah Felice E. Rosales

B2

Companies BusinessMirror

Wednesday, April 10, 2019

Neltex Devt taps EDC to power Cavite facility

N

By Lenie Lectura

@llectura

ELTEX Development Co. Inc. has tapped Energy Development Corp. (EDC) to provide power for its production facility in Cavite.

EDC will supply geothermal energy to the country’s largest manufacturer of plastic-pipe solutions. It will be sourced from EDC’s BaconManito Geothermal project in the Bicol region.

With its partnership with EDC, Neltex aims to make its production sustainable and safe for the environment, making it the first in the industry to be powered by renew-

able energy. Geothermal energy is the only renewable-energy source that is baseload, which means it can run uninterrupted 24/7. It is not affected by the weather, so it can produce power whether it rains or shines.

Neltex produces PVC pipes by using only organic-based stabilizers (OBS) and by using lead-free sustainable materials, making it

Southeast Asia’s biggest PVC-OBS site. These pipes are used to bring water from reservoirs to homes and businesses, and they are used to carry wastewater from toilets to sewer-treatment plants.

The EDC is one of the world’s largest geothermal producers and the country’s leading renewable-energy company with an installed capacity of 1,471.8 megawatts (MW).

The EDC is a subsidiary of the First Gen Corp., the country’s largest clean-energy company, with a portfolio that includes natural gas, geothermal, solar, wind and hydro.

First Gen and EDC were recently named among the world’s top 200 biggest and greenest companies.

Called the Carbon Clean 200, the list ranks companies according to the size of their revenues from cleanenergy sources.

First Gen ranked 113th with estimated clean-energy revenues of $632 million in 2017, while EDC occupied the 139th slot with estimated clean-energy revenues of $494.72 million.

The ranking based on the third quarter of 2018 marked the third time EDC and the first time First Gen were included on the Carbon Clean 200.

Apart from making the list, EDC also holds the distinction of being a carbon-negative company. This means the amount of carbon dioxide (CO2) it absorbs is far more than the level of CO2 it produces.

On an annual basis, the EDC helps the country avoid 6.7 million tons of CO2 emissions through its pure renewable-energy operations and comprehensive watershedmanagement program.

Sabang RE Corp. to complete Puerto Princesa solar-power facility in May T

HE Sabang Renewable Energy Corp. (SREC) is scheduled to complete next month a 1.4-megawatt peak (MWp) solar-power facility in Puerto Princesa City.

The SREC is a consortium of listed firm Vivant Energy Corp., Gigawatt Power Inc. and WEnergy Global. It will operate a hybrid power plant— combining solar panels and diesel engines—and an electricity distribution system at Barangay Cabayugan, Puerto Princesa City.

It expects to complete in May the construction of its hybrid mini-grid system, which will provide stable, reliable and renewable energy that will power further growth in Cabayugan.

“We are not merely installing four diesel engines and a 1.4-megawatt peak [MWp] solarenergy system. We’ve been building our own grid from the ground up, and erecting electrical poles and cables spanning 14 kilometers since April 2018,” SREC Chairman Emil Garcia said.

Under optimal conditions, the hybrid plant will generate as much as 2.6MWp once it is completed. This will allow the mini-grid to provide power to approximately 10 public buildings, 18 small businesses, 19 hotels and restaurants, and 583 households.

Mini grids are small-scale power grids that can be operated independently from the country’s interconnected network of power-transmission facilities. Lenie Lectura

Upper Bicutan in Taguig gets water supply

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LEVATED areas like Upper Bicutan in Taguig normally experience no water supply once pressure is reduced. With the help of three line boosters installed by Manila Water, residents of Upper Bicutan finally got water after weeks of intermittent supply.

The installation of line boosters is only one of several technical and network solutions to bring water to high areas and those located at the farend of the concession area. The three line boosters were installed in Goyena, Lapu-Lapu and Marian lakeview in San Martin de Porres. As looping and interconnecting lines are being installed in Gensan Capistrano, Manila Water continues to refill static tanks as a temporary watering point. “We are pleased that our technical solutions are successful in Upper Bicutan. We continue to work tirelessly to be able to provide water for the remaining pocket areas that continue to receive water intermittently or less than eight hours. Our current objective is to provide water supply for at least 8 hours to 12 hours at least at the ground-floor level This will enable our consumers to store water for their needs as we continue to implement our rotational water supply scheme,” Manila Water East Zone Business Operations Group Director Esmeralda Quines said.

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

April 8, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BDO LEASING COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

58.25 130.4 80.8 27.25 6.59 12.04 79.9 13.9 21.4 57.9 57.05 26.1 179 60.9 2.17 19 0.6 4.34 1.4 800 0.93 188 1800 1.15

58.55 130.5 82 27.35 7.57 12.14 79.95 13.96 21.85 58 58.3 26.25 179.7 61.95 2.25 19.2 0.66 4.35 1.43 810 0.96 190 1840 1.19

56.5 131 81.4 27.1 7.57 12.1 79.9 13.9 21.85 58 58.45 26.05 178.4 62 2.26 19.2 0.67 4.5 1.52 800 0.94 196.8 1800 1.13

58.55 132 82.5 27.35 7.57 12.3 80 14 21.85 58.7 58.85 26.3 179.7 62 2.26 19.2 0.67 4.5 1.52 800 0.94 196.8 1800 1.13

56.5 130 80.8 27.1 7.57 12.04 79.45 13.9 21.4 57.8 57 26.05 177.7 61 2.17 19.1 0.67 4.32 1.4 800 0.93 188 1800 1.13

58.55 130.5 80.8 27.35 7.57 12.14 79.95 13.9 21.4 58 57.05 26.1 179.7 61 2.25 19.2 0.67 4.35 1.43 800 0.94 190 1800 1.13

40100 1174260 4107280 52500 300 159800 735310 38500 5200 124370 2560 13300 153780 4210 17000 76200 1000 244000 203000 250 163000 3700 270 7000

2340142.5 153400299 334476009.5 1426000 2271 1939336 58734719.5 536150 111370 7232155.5 147642.5 349225 27528945 256873.5 37700 1459920 670 1071500 289630 200000 152340 700149 486000 7910

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG UNIV ROBINA VITARICH CONCRETE A CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.4 35.5 0.241 21.9 79.45 374 23.75 6.39 4.23 1.59 11.7 46 7.5 15.5 16.6 14.72 16 5.99 11.66 7.25 105 0.96 29.55 318.8 10.32 15.4 0.19 1.38 13.16 1.68 4.67 2.4 155.9 1.69 68.25 2.04 5.24 15.72 9.66 10.94 22.5 9.25 1.06 1.19 1.95 3.89 3.52 5.35 43.2 2.67 13.12 1.73 6.16 1.3 28.8

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME ORION SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.54 20.05 911 59.95 16.38 6.4 0.79 1.39 1.37 7.63 11.82 15.1 888.5 6.91 65.05 5.1 0.5 5.23 16.68 0.55 4.69 0.039 2.95 1.35 420 949 175.4 0.96 2.38 266 0.233 0.36

1.43 36.2 0.247 22 79.6 378.8 23.8 6.4 4.34 1.6 11.76 46.65 7.59 17 16.62 15.14 16.1 6.19 11.7 7.37 106 0.97 29.6 319 10.6 15.42 0.2 1.4 13.2 1.7 4.79 2.42 156 1.7 74.35 2.05 5.7 15.9 9.67 11 22.55 9.5 1.07 1.2 1.97 3.9 3.65 5.48 43.9 2.69 13.16 1.74 6.55 1.31 29.4

1.4 36 0.243 21.45 79.4 379.2 23.7 6.37 4.37 1.64 11.88 46.2 7.21 16.98 16.52 14.7 15.32 6.2 11.6 7.38 105 0.96 29.3 320.2 10.3 15.38 0.19 1.4 13.38 1.7 4.67 2.4 152.6 1.7 74.3 2.04 5.26 15.7 9.8 11.14 22.1 9.01 1.11 1.23 1.9 3.92 3.52 5.55 43 2.68 12.84 1.76 6.13 1.32 28.8

1.41 36.3 0.249 22 79.9 380.6 23.9 6.43 4.37 1.64 11.98 46.9 7.6 16.98 16.8 15.1 16.4 6.2 11.7 7.38 106 0.99 29.6 320.6 10.68 15.48 0.19 1.41 13.38 1.7 4.68 2.42 157 1.7 74.3 2.09 5.26 15.94 9.91 11.2 22.75 9.5 1.14 1.23 2.03 3.92 3.65 5.55 43.1 2.7 13.24 1.76 6.58 1.32 29.4

1.4 35.5 0.24 21.35 79.35 374 23.7 6.37 4.34 1.56 11.7 46 7.21 16.98 16.52 14.7 15.3 6 11.5 7.24 103.5 0.96 29.2 318.8 10.22 15.16 0.19 1.38 13.1 1.7 4.67 2.4 152.1 1.68 74.3 2.03 5.23 15.7 9.66 10.6 22.1 9.01 1.05 1.16 1.9 3.9 3.52 5.35 43 2.6 12.84 1.72 6.13 1.32 28.8

1.4 35.5 0.247 22 79.6 374 23.8 6.39 4.34 1.59 11.76 46 7.59 16.98 16.62 15.1 16.1 6 11.7 7.25 106 0.97 29.55 318.8 10.6 15.4 0.19 1.38 13.16 1.7 4.67 2.42 156 1.69 74.3 2.04 5.25 15.9 9.67 11 22.55 9.5 1.07 1.2 1.96 3.9 3.65 5.35 43.1 2.69 13.16 1.73 6.55 1.32 29.4

467000 850000 2950000 1070900 34240 152080 1221000 1103300 12000 27163000 222400 149800 552400 1000 441700 1500 2150100 48400 4180900 175100 310220 1423000 62800 493570 6000 1430100 70000 3428000 360100 4000 14000 50000 1078890 844000 10 10603000 70200 74700 258900 3395000 4663400 15200 1270000 4665000 1415000 99000 15000 52400 3400 8821000 482800 621000 21600 8000 53300

653880 30564430 727360 23440465 2722053 57149932 29090755 7055360 52110 43401310 2616264 6975870 4118627 16980 7357572 22480 33770994 290480 48692428 1271059 32737496 1382050 1847680 157618072 62740 22008932 13300 4750290 4754840 6800 65390 120300 167519797 1425800 743 21797940 367842 1187774 2529183 36882064 105425635 142366 1364540 5573020 2771670 387180 54050 280610 146450 23530180 6323068 1078890 138786 10560 1550275

HOLDING & FRIMS 0.55 20.25 914 60 16.4 6.5 0.81 1.4 1.4 7.65 11.84 15.14 889.5 6.98 65.5 5.15 0.52 5.24 16.8 0.57 4.7 0.04 2.97 1.36 438 953 175.5 0.97 2.44 273 0.24 0.365

0.56 20.5 919 60.4 15.96 6.35 0.82 1.38 1.38 7.75 11.76 15.04 897 6.95 64.65 5.08 0.52 5.22 16.54 0.55 4.6 0.039 2.93 1.33 418 944 176 1.05 2.38 262.4 0.244 0.37

0.56 20.55 919 60.6 16.5 6.5 0.83 1.4 1.4 7.75 12.02 15.28 905 6.98 65.85 5.1 0.52 5.28 16.8 0.55 4.74 0.04 2.97 1.36 439 966 177.1 1.05 2.38 273 0.244 0.375

0.52 20.05 907 59.95 15.96 6.35 0.79 1.36 1.38 7.6 11.74 15 885.5 6.92 64.55 5.08 0.5 5.2 16.54 0.55 4.6 0.039 2.83 1.33 410 944 174.9 0.97 2.38 262.2 0.231 0.36

0.54 20.05 911 60 16.4 6.5 0.79 1.39 1.4 7.63 11.84 15.14 889.5 6.98 65.5 5.1 0.51 5.23 16.8 0.55 4.7 0.039 2.97 1.36 420 953 175.5 0.97 2.38 273 0.24 0.365

20044000 24300 254440 643200 15595200 211500 816000 3921000 413000 914100 4459500 691000 116060 81200 1769410 3900 687000 203800 1261700 3000 23464000 9600000 1449000 47000 1620 181630 275290 3298000 3000 820 380000 17950000

10838940 489045 231822545 38763311.5 255544214 1374525 651450 5423960 571590 6989199 52903090 10495044 103367595 564392 115296529.5 19852 344920 1065625 20994646 1650 109843940 375800 4206360 62990 683324 173221975 48375131 3266120 7140 219724 88600 6576850

2164549 -536038 23477281 -464892 -71103 395696 -296750 12401796 -65270 -92190 123690 163800 -4449820 296450 12816925 669473.5 5093812 -7582090 402121 -34720 2334170 -207530 4153195 -70380 4938182 2751322 -279520 18437202 -43548 1265784 -2880 458520 38073010 17010968 391330.0003 -660000 36300 65096472 -1331210 19400 -7928098 36446290 31800 -162000 646090 -280055 21550 -1523590 -1027264 -90465 333920 -87785750 18394479 135277496 975000 -56700 99970 2816405 -9872188 396976 -41510340 67951052 186179 7079784 1650 -2829800 170240 559640 107016705 7287678 194500 -694950

PROPERTY

ARTHALAND CORP 0.77 0.78 0.79 0.79 0.77 0.78 954000 738450 1540 ANCHOR LAND 11.52 11.88 10.92 13.46 10.92 11.88 100600 1176354 -99462 AYALA LAND 44.9 45 45 45 44.85 45 9190300 413162565 -27172160 ARANETA PROP 1.97 2 2 2 2 2 6000 12000 BELLE CORP 2.42 2.43 2.37 2.42 2.36 2.42 620000 1488640 -57670 A BROWN 0.78 0.79 0.81 0.81 0.78 0.79 313000 247250 CITYLAND DEVT 0.89 0.9 0.94 0.94 0.89 0.9 1302000 1160100 2700 CROWN EQUITIES 0.243 0.244 0.246 0.246 0.244 0.244 160000 39110 CEB LANDMASTERS 4.16 4.21 4.17 4.19 4.12 4.16 440000 1830630 80110 CENTURY PROP 0.53 0.54 0.53 0.54 0.52 0.54 11617000 6161340 32860 CYBER BAY 0.4 0.42 0.42 0.42 0.42 0.42 70000 29400 DOUBLEDRAGON 22.95 23 22.4 23.35 22.4 22.95 378100 8652500 386735 DM WENCESLAO 11.54 11.56 11.4 11.56 11.1 11.56 887900 10058734 203728 EMPIRE EAST 0.52 0.53 0.51 0.53 0.51 0.53 2683000 1411160 8840 EVER GOTESCO 0.124 0.125 0.125 0.125 0.125 0.125 180000 22500 FILINVEST LAND 1.51 1.52 1.52 1.53 1.5 1.52 10529000 15972200 -8338750 GLOBAL ESTATE 1.38 1.39 1.36 1.42 1.35 1.38 5910000 8222460 8990 HLDG 13.04 13.06 13.26 13.48 13 13.06 1723200 22641660 2335588 PHIL INFRADEV 1.74 1.75 1.68 1.77 1.68 1.74 2012000 3473280 -426240 MEGAWORLD 5.74 5.75 5.7 5.78 5.68 5.74 25092200 143474770 26505014 MRC ALLIED 0.365 0.37 0.355 0.37 0.355 0.37 12080000 4394600 173850 PHIL ESTATES 0.5 0.52 0.49 0.52 0.485 0.52 1470000 750800 -359900 PRIMEX CORP 2.56 2.57 2.5 2.58 2.5 2.57 431000 1105750 ROBINSONS LAND 24.1 24.15 24.45 24.5 24.05 24.15 1500800 36265675 25293800 PHIL REALTY 0.42 0.425 0.42 0.425 0.42 0.425 300000 126500 ROCKWELL 1.99 2 2 2 1.98 1.99 196000 391380 -230000 SHANG PROP 3 3.05 3.05 3.07 3 3 185000 556210 STA LUCIA LAND 1.6 1.63 1.63 1.63 1.59 1.63 252000 406000 SM PRIME HLDG 39.2 39.3 39.1 39.8 39 39.3 4653400 182656340 -13860735 STARMALLS 7.09 7.1 6.9 7.13 6.8 7.09 718500 5050568 163160 SUNTRUST HOME 0.74 0.76 0.76 0.76 0.74 0.74 115000 86700 PTFC REDEV CORP 45.3 53.45 53.45 53.45 53.45 53.45 20 1069 VISTA LAND 7.24 7.25 7.24 7.3 7.22 7.25 2141700 15566357 -1440065

SERVICES ABS CBN 19.9 19.98 20 20.05 19.72 19.98 211100 4207197 GMA NETWORK 5.79 5.8 5.8 5.82 5.78 5.8 2987700 17324862 MANILA BULLETIN 0.71 0.72 0.68 0.74 0.67 0.71 15041000 10606690 MLA BRDCASTING 15.6 16.9 15.46 15.46 15.46 15.46 300 4638 GLOBE TELECOM 1911 1923 1908 1936 1900 1923 23010 44121870 3696625 PLDT 1150 1153 1140 1160 1135 1150 276855 318264875 -1662250 APOLLO GLOBAL 0.041 0.042 0.041 0.042 0.041 0.042 400000 16700 DFNN INC 6.78 6.8 6.77 6.78 6.77 6.78 12500 84747 IMPERIAL 1.87 2.07 1.86 1.87 1.8 1.87 36000 65880 16200 ISLAND INFO 0.128 0.13 0.128 0.13 0.128 0.129 920000 118510 ISM COMM 4.83 4.85 4.92 4.95 4.8 4.83 1262000 6126600 244000 JACKSTONES 3.06 3.14 3.06 3.06 3.05 3.05 99000 302470 NOW CORP 2.52 2.53 2.54 2.59 2.51 2.52 451000 1143050 2540 TRANSPACIFIC BR 0.39 0.395 0.39 0.4 0.39 0.395 3000000 1176400 PHILWEB 2.86 2.87 2.74 2.87 2.74 2.86 862000 2440110 -28600 2GO GROUP 12.5 12.64 12.7 12.7 12.5 12.5 13000 163274 1250 ASIAN TERMINALS 16 16.66 16 16 16 16 2900 46400 CHELSEA 5.33 5.38 5.4 5.4 5.25 5.38 485700 2571657 667725 CEBU AIR 84.5 84.8 86 86 84.45 84.8 50400 4285925.5 149895.5 INTL CONTAINER 129.5 129.6 123 129.6 123 129.6 1209660 155193577 61195409 LBC EXPRESS 15.4 15.76 15.4 15.4 15.4 15.4 300 4620 LORENZO SHIPPNG 0.91 0.92 0.98 0.98 0.91 0.92 2435000 2269270 139000 MACROASIA 22.9 22.95 22.7 23 22.2 22.95 1045200 23896340 3780025 METROALLIANCE A 1.69 1.77 1.71 1.79 1.69 1.79 92000 156710 METROALLIANCE B 1.71 1.98 1.7 1.7 1.7 1.7 5000 8500 PAL HLDG 10.22 10.28 10.1 10.28 10.1 10.22 31700 321612 HARBOR STAR 3.02 3.03 3.02 3.09 3.01 3.03 1885000 5750440 -36600 BOULEVARD HLDG 0.072 0.073 0.071 0.073 0.071 0.073 25600000 1844140 194399.9999 DISCOVERY WORLD 2.06 2.15 2.18 2.18 2.18 2.18 1000 2180 GRAND PLAZA 9.92 11.38 9.92 9.92 9.92 9.92 100 992 WATERFRONT 0.71 0.72 0.7 0.72 0.7 0.71 1526000 1084310 FAR EASTERN U 890 895 890 890 890 890 10 8900 IPEOPLE 11.1 11.8 10.8 11.8 10.8 11.5 153100 1748840 1713160 STI HLDG 0.66 0.67 0.68 0.68 0.67 0.67 6005000 4027180 890710 BERJAYA 2.49 2.5 2.52 2.54 2.49 2.49 254000 634060 -29980 BLOOMBERRY 12.8 12.82 12.84 12.94 12.7 12.8 31298100 402149498 -83440354 PACIFIC ONLINE 4.47 4.5 4.5 4.5 4.43 4.5 37000 166290 LEISURE AND RES 3.86 3.9 3.95 4.06 3.81 3.9 5973000 23816020 -2091650 PH RESORTS GRP 4.7 4.71 4.5 4.7 4.5 4.7 11000 49700 PREMIUM LEISURE 0.84 0.85 0.85 0.86 0.84 0.85 7109000 6038140 485440 TRAVELLERS 5.64 5.65 5.65 5.67 5.63 5.65 138500 783124 -94362 METRO RETAIL 3.35 3.36 3.3 3.4 3.29 3.36 2898000 9678360 640020 PUREGOLD 49.5 49.55 48.25 49.85 48.25 49.5 2725800 134279780 70989675 ROBINSONS RTL 79.9 80 79.8 80.15 79.8 80 503880 40306607 -19217079 PHIL SEVEN CORP 118 119.3 121 121 117 118 1730 203489 -42029 SSI GROUP 2.46 2.47 2.45 2.48 2.44 2.46 2799000 6885310 699480 WILCON DEPOT 15.4 15.56 15.5 15.72 15.18 15.4 1723100 26750762 2850476 APC GROUP 0.425 0.44 0.44 0.44 0.43 0.43 1220000 530850 EASYCALL 10.12 10.26 10.4 10.5 10 10.26 107700 1096008 -372348 GOLDEN BRIA 390 399 399.8 400 385 399 450 177028 IPM HLDG 7.1 7.11 7.09 7.1 7.09 7.1 11000 78090 PAXYS 3.09 3.2 3.19 3.32 3.19 3.2 17000 54690 -6140 PRMIERE HORIZON 0.96 0.97 0.96 0.99 0.92 0.97 33197000 31781440 -2182820 SBS PHIL CORP 8.81 8.94 9 9 8.94 8.94 23700 212584 -45000

MINING & OIL ATOK 12.1 12.92 12.9 12.96 12.26 12.94 17000 218696 193500 APEX MINING 1.35 1.36 1.37 1.38 1.34 1.35 1619000 2184640 -262050 ABRA MINING 0.0019 0.0021 0.0021 0.0021 0.002 0.0021 112000000 225100 ATLAS MINING 2.94 2.98 2.94 2.94 2.93 2.94 121000 354850 -8810 BENGUET A 1.33 1.48 1.41 1.5 1.4 1.48 13000 18540 BENGUET B 1.33 1.51 1.31 1.33 1.31 1.33 39000 51270 COAL ASIA HLDG 0.295 0.3 0.295 0.295 0.295 0.295 200000 59000 CENTURY PEAK 2.69 2.7 2.69 2.72 2.68 2.7 1341000 3612490 -999100 DIZON MINES 8.2 8.25 8.26 8.36 8.07 8.25 9500 78482 FERRONICKEL 1.6 1.61 1.62 1.63 1.58 1.61 7776000 12459240 187620 GEOGRACE 0.255 0.26 0.26 0.265 0.25 0.26 3190000 809050 38500 LEPANTO A 0.116 0.118 0.118 0.118 0.117 0.118 1380000 162280 MANILA MINING A 0.0084 0.0086 0.0086 0.0086 0.0085 0.0085 2000000 17100 MARCVENTURES 1.05 1.09 1.07 1.07 1.05 1.05 84000 88460 NIHAO 1 1.03 1.04 1.04 1 1.03 18000 18100 NICKEL ASIA 2.57 2.6 2.59 2.6 2.54 2.57 1180000 3033170 -497100 OMICO CORP 0.59 0.6 0.6 0.61 0.6 0.6 60000 36100 ORNTL PENINSULA 0.91 0.92 0.91 0.91 0.9 0.91 199000 180550 PX MINING 3.38 3.39 3.38 3.4 3.37 3.39 183000 618110 16900 SEMIRARA MINING 22 22.05 21.75 22.3 21.75 22 2365700 52043340 31829855 UNITED PARAGON 0.0069 0.0073 0.007 0.007 0.007 0.007 7000000 49000 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 3000000 38000 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 16400000 180800 PHINMA PETRO 3.03 3.15 3 3.01 3 3.01 10000 30060 PXP ENERGY 8.86 8.87 9.52 9.65 8.85 8.87 4513800 41204861 1707110

PREFFERED

HOUSE PREF A 94 95 95 95 95 95 750 71250 19000 AC PREF B1 467.2 478.8 478.8 478.8 478.8 478.8 100 47880 AC PREF B2 481 495 481 485 481 481 700 336740 SMC FB PREF 2 975 981 980 981 980 981 100 98050 FGEN PREF G 100.9 104.2 104.3 104.3 104.3 104.3 500 52150 FPH PREF C 450.6 474.8 450.6 450.6 450.6 450.6 400 180240 GTCAP PREF B 902 924.5 924 924.5 924 924.5 1000 924215 LR PREF 1 1.01 1 1.01 1 1.01 680000 685000 MWIDE PREF 100 102.7 101.2 101.2 100 100 10000 1002288 20080 PNX PREF 3B 104 106 106 106 106 106 20 2120 PCOR PREF 2A 971 1000 1000 1000 1000 1000 20 20000 20000 PCOR PREF 2B 990 1040 1040 1040 1040 1040 5 5200 SMC PREF 2B 74.9 75 75.2 75.2 75 75 20290 1521784 SMC PREF 2C 75.75 76 76.5 76.5 75.75 75.75 26670 2023360 30400 SMC PREF 2D 71.8 72.85 73.7 73.8 71.7 72.85 82850 6001313 SMC PREF 2E 72.5 74.15 74.15 74.15 74.15 74.15 30 2224.5 SMC PREF 2F 74 74.75 74.75 74.75 74.75 74.75 310 23172.5 SMC PREF 2G 73 73.5 73.5 73.5 72.75 72.75 410 29977.5 14700 SMC PREF 2I 73 73.95 73.95 73.95 73.95 73.95 900 66555 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.52 5.61

19.76 5.64

19.12 5.61

19.52 5.61

19.1 5.61

19.52 5.61

88300 3900

1687726 21879

WARRANTS LR WARRANT

1.91

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.85 XURPAS 1.35

1.97

1.96

2.09

1.9

1.9

1100000

2219940

-

4.86 1.36

4.86 1.19

4.89 1.37

4.85 1.18

4.86 1.35

146000 45676000

708550 58889870

-6075480

EXHANGE TRADE FUNDS FIRST METRO ETF

117.6

-819914 -

118

117.3

118

117.3

118

10280

1212033

-

The World BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso • Wednesday, April 10, 2019

Trump eyes tariffs on $11 billion of EU goods for Airbus subsidy

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RESIDENT Donald J. Trump’s administration is proposing tariffs on some $11 billion in imports from the European Union (EU) in response to harm the US says is being caused by the bloc’s subsidies to Boeing Co. rival Airbus SE. In issuing the list, which includes passenger helicopters, various cheeses and wines, ski-suits and certain motorcycles, the US Trade Representative’s office cited the World Trade Organization’s (WTO) finding that the aid to Airbus has “repeatedly” caused “adverse effects to the United States,” the USTR said in a statement on Monday evening.

T he Trump administration said, starting on Monday, it is beginning a process under Section 301 of the Trade Act of 1974 to “identify products of the EU to which additional duties may be applied until the EU removes those subsidies.”

The threatened tariffs would be implemented only after the W TO gave the final go-ahead this summer, the administration said—a rare show of faith in an institution that Trump himself has assailed.

The move is provocative on a number of fronts, however.

The US said it would impose the tariffs under the same previously dormant trade statute that it has

used to justify duties on China over the past year.

The threat also comes just as the EU’s members are in the final stages of negotiating the terms of a mandate for the European Commission, the EU’s executive arm, to begin talks on industrial tariffs with the Trump administration.

The latest threat may therefore further complicate those talks. Some EU members, led by France, are already skeptical of the value of negotiations with the US, which were agreed to last July in a bid by the EU to avoid auto tariffs Trump has threatened. Furthermore, a draft of the mandate seen by Bloomberg specifically gives the EU an optout if the US were to impose tariffs on the bloc using the Section 301 justification.

Rober t Light hizer, t he US trade representative, said in a statement on Monday night that the US had lost patience with what is now one of the WTO’s longest-running sagas.

“This case has been in litigation

TRUMP

for 14 years, and the time has come for action,” he said in the statement.

Yet he also signaled that the administration wanted to see an end to the EU subsidies in question, which Boeing Co. and the US claim give Airbus an unfair advantage in the highly competitive passenger aircraft market internationally.

“Our ultimate goal is to reach an agreement with the EU to end

Global warming is shrinking glaciers faster than thought

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A SHINGTON—Ear t h ’s glaciers are melting much faster t han scientists thought. A new study shows they are losing 369 billion tons of snow and ice each year, more than half of that in North America.

The most comprehensive measurement of glaciers worldwide found that thousands of inland masses of snow compressed into ice are shrinking 18-percent faster than an international panel of scientists calculated in 2013.

The world’s glaciers are shrinking five times faster now than they were in the 1960s. Their melt is accelerating due to global warming, and adding more water to already rising seas, the study found.

“Over 30 years suddenly almost all regions started losing mass at the same time,” said lead author Michael Zemp, director of the World Glacier Monitoring Service at the University of Zurich.

“That’s clearly climate change if you look at the global picture.”

The glaciers shrinking fastest are in central Europe, the Caucasus region, western Canada, the US Lower 48 states, New Zealand and near the tropics. Glaciers in these places on average are losing

all WTO-inconsistent subsidies to large civil aircraft,” he said.

“When the EU ends these harmful subsidies, the additional US duties imposed in response can be lifted.”

In a statement, Boeing said the company “supports the US trade representative and his team in their ongoing efforts to level the playing field in the global aircraft marketplace.”

Malaysia, Singapore vow to reach friendly end to water dispute T

THIS September 22, 2018, file photo shows the Baishui Glacier No.1 on the Jade Dragon Snow Mountain in the southern province of Yunnan in China. Scientists say it is one of the fastestmelting glaciers in the world due to climate change and its relative proximity to the Equator. It has lost 60 percent of its mass and shrunk 250 meters since 1982. AP PHOTO/SAM MCNEIL

more than 1 percent of their mass each year, according to a study in Monday’s journal Nature.

“In these regions, at the current glacier loss rate, the glaciers will not survive the century,” Zemp said.

Zemp’s team used ground and satellite measurements to look at 19,000 glaciers, far more than previous stud-

ies. They determined that southwestern Asia is the only region of 19 where glaciers are not shrinking, which Zemp said is due to local climate conditions.

Since 1961, the world has lost 10.6 trillion tons of ice and snow (9.6 trillion metric tons), the study found. That’s enough to cover the lower 48 US states in about 4 feet of ice. AP

T he proposed tariffs come nearly 15 years after the US first complained to the WTO that Airbus had widely benefited from billions of dollars in illegal subsidies. A countersuit by the European Union is still winding its way through the trade court, which found last month that about $325 million in tax incentives offered by Washington state to Boeing were unlawful. Bloomberg News

HE leaders of neighboring Singapore and Malaysia agreed Tuesday to amicably resolve a long-running dispute over water that has stoked tensions for decades.

In a joint press briefing, Malaysian Prime Minister Mahathir Mohamad and Singaporean counterpart Lee Hsien Loong said they are open to resolving a disagreement over water prices through arbitration. They also planned to proceed with delimiting the maritime boundary and resolving issues over airspace and a suspended high-speed rail project.

For Singapore, the water pact “is such a sacrosanct item, and therefore let us try to find a way forward that enables us to talk constructively about this issue and hopefully be able to make some progress,” Lee said. “To ask me what is the reasonable water price now is to prejudge the question.”

Water has been a main source of dispute between the neighbors, with

former Singapore Prime Minister Lee Kuan Yew, the late father of the leader, saying he was ready to send troops to Malaysia if it tried to turn off the taps. Soon after returning to power last May, Mahathir had sought to revise a water-supply deal that had been unchanged since 1962, calling it “morally wrong.”

Singapore had maintained that Malaysia missed out on the chance to review the price in 1986 and 1987, as the deal was subject to review 25 years after it started. Malaysian Foreign Minister Saifuddin Abdullah has called that interpretation of the deal “nonsensical.”

The water pact was part of a separation agreement registered with the United Nations when Singapore broke away from Malaysia in 1965. The countries have since bickered over issues from airspace to tiny islands, although the dispute never escalated beyond mutual badmouthing. Bloomberg News

Brain zaps boost memory in people over 60, study finds

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EW YORK—Zapping the brains of people over 60 with a mild electrical current improved a form of memory enough that they performed like people in their 20s, a new study found.

Someday, people might visit clinics to boost that ability, which declines both in normal aging and in dementias like Alzheimer’s disease, said researcher Robert Reinhart of Boston University.

The treatment is aimed at “working memory,” the ability to hold information in mind for a matter of seconds as you perform a task, such as doing math in your head. Sometimes called the workbench or scratchpad of the mind, it’s crucial for things like taking medications, paying bills, buying groceries or planning, Reinhart said.

“It’s where your consciousness lives...where you’re working on information,” he said.

The new study is not the first to show that stimulating the brain can boost working memory. But Reinhart, who reported the work on Monday in the journal Nature Neuroscience, said it’s notable for showing success in older people and because the memory boost persisted for nearly an hour minimum after the brain stimulation ended.

One scientist who has previously reported boosting working memory with electrical

stimulation noted that the decline in this ability with normal aging is not huge. But “they removed the effects of age from these people,” said Dr. Barry Gordon, a professor of neurology and cognitive science at the Johns Hopkins School of Medicine in Baltimore.

“It’s a superb first step” toward demonstrating a way to improve mental performance, said Gordon, who was not involved in the new study. AP

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Facebook, Google face widening crackdown over online content

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ONDON—Tech giants like Facebook and Google came under increasing pressure in Europe on Monday when countries proposed stricter rules to force them to block extreme material such as terrorist propaganda and child porn.

Britain called for a first-of-itskind watchdog for social media that could fine executives and even ban companies. And a European Union parliamentary committee approved a bill giving Internet companies an hour to remove terror-related material or face fines that could reach into the billions.

“We are forcing these firms to clean up their act once and for all,” said British Home Secretary Sajid Javid, whose department collaborated on Britain’s proposal.

Opponents warned the British and EU measures could stifle innovation and strengthen the dominance of technology giants because smaller companies won’t have the money to comply. That, in turn, could turn Google and Facebook into the web’s censors, they said.

The push to make the big companies responsible for the torrent of material they carry has largely been driven by Europeans. But it picked up momentum after the March 15 mosque shootings in New Zealand that killed 50 people and were livestreamed for 17 minutes.

Facebook said it removed 1.5 million videos of the attacks in the 24 hours afterward.

The US, where government action is constrained by the First Amendment right to free speech and freedom of the press, has taken a more hands-off approach, though on Tuesday, a House committee will press Google and Facebook executives on whether they are doing enough to curb the spread of hate crimes and white nationalism.

Australia last week made it a crime for social-media platforms not to quickly remove “abhorrent violent material.” The offense would be punishable by three years in prison and a fine of A$10.5 million ($7.5 million), or 10 percent of the platform’s annual revenue, whichever is larger. New Zealand’s Privacy Commissioner wants his country to do the same.

The British plan would require social media companies such as Facebook and Twitter to protect people who use their sites from “harmful content.” The plan, which includes the creation of an independent regulator funded by a tax on Internet companies, will be subject to public comment for three months before the government publishes draft legislation.

“No one in the world has done this before, and it’s important that we get it right,” Culture Secretary Jeremy Wright told the BBC. Facebook’s head of public policy in Britain, Rebecca Stimson, said the goal of the new rules should be to protect society, while also supporting innovation and freedom of speech.

“These are complex issues to get right, and we look forward to working with the government and Parliament to ensure new regulations are effective,” she said.

Britain will consider imposing financial penalties similar to those under the EU’s online data privacy law, which permits fines of up to 4 percent of a company’s annual worldwide revenue, Wright said. In extreme cases, the government may also seek to fine individual company directors and prevent companies from operating in Britain. AP

B4 Wednesday, April 10, 2019

AIM hosts Asia-Pacific family business symposium

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HE Asian Institute of Management (AIM) and Sarala Birla Professorial Chair will host The Family Business Dyad: Enlivening Stewardship and Leadership symposium from April 24 to 27 at the AIM campus on Paseo de Roxas, Makati City.

The symposium tackles issues in family leadership, innovative organizational practices and sustainable management, and will bring together members of the academe, family firm businessmen and business advisors to discuss new trends in research on family businesses. Today at

least 80 percent of enterprises in the Philippines are family-owned, while the Philippines ranks 11th in the world on the proportion of family-controlled businesses in operation.

The family business symposium is co-organized with the University of Western Australia, the University of Nottingham Malaysia and members of the Family Business Asia Pacific Group.

For more information and to register, visit birla.aim.edu. Registration is open until April 12.

SM SUPERMALLS HAILED AS MOST TRUSTED SHOPPING MALL BRAND SM Supermalls has once again been given the ultimate seal of consumer approval at the Reader’s Digest Asia Trusted Brands Awards 2019 held at Marco Polo Hotel. This marks the seventh time that SM has won Platinum under the Shopping Center category. The Reader’s Digest Trusted Brand Awards are given to brands that have exceptionally outpolled its competitors. For more than 60 years SM Supermalls has become a trusted brand for offering family fun and great shopping experience to Filipinos. Photo shows Grace Magno (left) of SM Supermalls receiving the award from Reader’s Digest retail and advertising sales director for Asia Pacific Sheron White.

MG Philippines rocks Manila International Auto Show 2019 with exciting product lineup, promos

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ROM April 4 to 7 the highly anticipated Manila International Auto Show (Mias) once again made its annual show at the World Trade Center. The Mias is touted as the country’s most anticipated car- and motor-trade show in the Philippines, showcasing the world’s top car brands all under one roof. It is with the show as an ideal venue for MG Philippines to showcase its latest products as it stood shoulder to shoulder with other leading international car brands.

“MG has done very well in many parts of the world where, in the past, the MG brand was not a household name. Places like Latin America, the Middle East and Southeast Asia have embraced MG for their high quality and ability to satisfy various needs and lifestyles. Given this and, recognizing that The Philippines is one of the most important and fastest-growing automotive markets in the world, we feel that the time is just right for MG

to make a big splash in the Philippine auto scene” says lawyer Alberto B. Arcilla, president and chief executive officer of The Covenant Car Company Inc. “We see that the qualities of today’s MG cars strongly appeal to Filipino buyers, and that is why we are showcasing these modern, attainable, British heritage vehicles at an event, such as the Mias, where the Filipino car-buying public can have a hands-on experience with them.”

MG Philippines displayed three models and made these available for test drive at the 2019 Mias. These are the MG ZS crossover SUV, the MG RX5 compact SUV and the MG 6 fastback sedan. Each model from MG Philippines was offered at a very competitive, all-in downpayment rate, came with one-year free PMS and gave future owners access to a host of innovative aftersales services, such as the mobile garage where MG owners can have their cars serviced right in the comfort of their homes.

A SEASON OF MILESTONES FOR FORMULA 1

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ROM March 15 to 17 the 2019 Fédération Internationale de l’Automobile (FIA) Formula 1 Rolex Australian Grand Cup took place at the Melbourne Grand Prix Circuit, whereas the first championship match of the 70th Formula 1 race has been officially launched.

Fans from across the world are captivated by the sport’s cutting-edge technology and its remarkable athletes in their quest for perfection.

The competition’s enduring spirit, as well as its commitment to bold performance and innovation, aligns closely with Rolex’s own passion for continuous excellence. This season Rolex marked its seventh consecutive year as a global partner and the official timepiece of Formula 1.

In a move to improve overtaking, the FIA and Formula 1 have introduced rules reducing aerodynamic turbulence from the front and rear wing, encouraging cars to follow each other in close proximity.

“The new regulations are designed to encourage drivers to get into a position to overtake. The cars should be more predictable, meaning the drivers will be more confident about creating exciting passing opportunities. There’s definitely a lot to look forward to this season, and I think there will be a good fight for the championship. I hope it goes deep into the year—I really believe it will,” Rolex testimonee and multiple Formula 1 race winner Mark Webber said.

The 2019 season, spanning from March to December and consisting of 21 races around the world, features several milestones. This month’s Formula 1 Heineken Chinese Grand Prix 2019 will be the championship’s 1,000th Grand Prix. Since its first race in May 1950, Formula 1 has pioneered technology

across the globe, showcasing legendary drivers behind the wheel of the most advanced racing cars.

In May the Formula 1 Grand Prix De Monaco 2019 celebrates 90 years since the inaugural race around the Principality’s famous streets and, almost a century later, the circuit still paves a virtually identical route.

Rolex testimonee and 2016 FIA Formula 1 Drivers’ World champion Nico Rosberg highlighted the importance of celebrating the sport’s past.

“I’m ver y proud of the great heritage of Formula 1 and the small part I have played in its history. I look forward to being involved in these landmark occasions, to reflect and reminisce on the sport’s tremendous legacy and its exceptional achievements. [The] Formula 1 continues to be one of the most technologically advanced sports in the world, and these attributes—legacy, excellence and innovation—fit perfectly with Rolex.”

On September 7 at Monza (Italy), Sir Jackie Stewart, a Rolex testimonee for more than half a century and three-time FIA Formula 1 Drivers’ World champion, will celebrate 50 years to the day since he clinched his first championship. The Scottish legend, who marks the occasion at the same circuit where he sealed the crown in 1969, reflects on the milestone.

“I’ve always felt emotion is dangerous for a racing driver, but I hope there is a little flush of it when I get to Monza this year. I’m incredibly proud and fortunate to have seen the sport grow in prestige as well as, from a safety perspective, it’s a wonderful story. To honor the anniversary at one of the greatest race tracks in the world where I won my first championship is truly special, and I look forward to a weekend full of celebrations.”

Sports BusinessMirror

C1

| Wednesday, April 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

YES, VIRGINIA, CAVALIERS ARE CHAMPS!

THE Cavaliers bring home the first NCAA title for a program with a colorful, star-crossed and, now, very winning history. AP

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By Eddie Pells The Associated Press

INNEAPOLIS—Now that, Virginia, is the way to close out a season.

And quiet those critics, too.

Led by De’Andre Hunter and his National Basketball Association (NBA)-ready game, the Cavaliers turned themselves into national champions on Monday night, holding off tenacious, ferocious Texas Tech for an 85-77 overtime win—a scintillating victory that came 388 days after a crushing setback that might have sunk a lesser team for years.

But Virginia was better than that.

A season after becoming the first No. 1 seed to lose to a 16—the one thing that had never happened in a tournament where anything can—the Cavaliers watched a 10-point lead turn into a three-point deficit before Hunter came to the rescue. The sophomore made the game-tying three with 12 seconds left in regulation, then made another with just over two minutes left in the extra period to give the Cavs the lead for good.

“Surreal,” Hunter called it. “It’s a goal we started out with at the beginning of the season. We knew we were going to bounce back from last year. We achieved our dreams.”

After going scoreless for the first 18-and-a-half minutes, Hunter finished with a career-high 27 points, and if he leaves as a lottery pick—well, what a way to go.

He helped the Cavs bring home the first NCAA title for a program with a colorful, star-crossed and, now, very winning history.

Ralph Sampson was in the house, but now it’s possible that Sampson and the name “Chaminade” won’t be at the top of Virginia’s résumé anymore.

Or “University of Maryland-Baltimore County.” That was the No. 16 seed that stunned the Cavs in the first round last

year, its playful social-media manager online on Monday night tweeting congratulations shortly after the final buzzer. Hunter missed that game with a broken wrist, but nobody thought they’d miss him that much.

Each of Virginia’s 34 wins leading to the final, and each of its scant three losses, were all punctuated by the reminder that only the end result would serve as the ultimate report card on whether the Cavs could truly shed the baggage of last year.

What a ride this was.

A 1 seed once again, they fell behind by 14 early to 16th-seeded Gardner-Webb in this year’s opening round, and a nightmare seemed to be unfolding. But this time, they overcame it. Then, they beat Purdue in the Elite Eight when the game looked lost, and did the same against Auburn on Saturday—getting bailed out by a foul call and Kyle Guy’s three free throws with 0.6 seconds left.

“I told them, I just want a chance at a title fight one day,” Virginia Coach Tony Bennett said. “That’s all I want.... You’re never alone in the hills and the valleys we faced in the last year.”

Hunter’s key three in OT gave Virginia a 75-73 lead, and after the teams traded possessions, Tech guard Davide Moretti scrambled after a loose ball heading onto Virginia’s end of the court. It appeared it would be Texas Tech ball, but a replay showed Moretti’s pinkie finger had barely scraped the ball. Virginia got possession, and worked the ball into Ty Jerome, who got fouled and made two free throws.

Brandone Francis missed a three on the other end, and Virginia pulled away—the first time this game felt remotely comfortable, even after Guy made a three to give the Cavs a 10-point lead with 10:22 left in regulation.

Guy is not Virginia’s only clutch free-throw shooter, by the way. The Cavs went 12 for 12 from the line in overtime to ice this game. They scored the game’s final 11 points.

As for the Red Raiders (31-7), well, what can you say?

The team full of overlooked grinders refused to quit.

They fell behind by 10 twice in this game— seemingly too much in a matchup between two legendary defenses that allowed way more than the projected total of 118 points—but just kept coming back.

Jarrett Culver, also lottery-pick material, made a spinning left-handed layup over Hunter with 35 seconds left in regulation to put the Red Raiders ahead 66-65.

After Jerome missed a teardrop on the other end, Norense Odiase got fouled and made two free throws to make it 68-65.

The nation’s best defense couldn’t afford to give up a three, but Jerome skipped a pass to Hunter, who was open on the wing—and spotted up and drained it. Culver missed a three with Guy in his face with a second left, and we were headed to overtime, the first extra session in the final since Kansas beat Memphis in 2008.

“In terms of my guys, I’ve never been more proud,” Red Raiders Coach Chris Beard said. “This is real life.

We’ll bounce back.”

The last five minutes of regulation and the OT featured several one-on-one matchups between the two NBA-bound stars, and Hunter came out the winner. He finished eight for 16 after an 0-for-seven start. Culver, who stayed in his hometown of Lubbock to see how far he could take Tech, went fixe for 22 for 15 points, continuing a cold-shooting Final Four; he went eight for 34 over the weekend.

Both will likely move on to the NBA. Hunter will go there with a title.

And somebody on Virginia ought to grab that sign.

In the stands, a fan made a cardboard sign with the capital letters “UMBC” running vertically, and this spelled out after each letter. “Uva.”‘’Makes.”‘’Big.”‘’Comeback.”

The Cavs couldn’t have written it any better themselves.

Texas Tech can’t finish comeback in title game M

INNEAPOLIS—Jarrett Culver walked slowly around the perimeter as the final buzzer sounded, in a bit of a daze as he tugged his jersey to his chin.

Texas Tech’s sophomore star looked as if he were surveying the scene of his struggles.

Culver missed 17 of his 22 attempts from the floor, including all six tries from three-point range, and his 15 points weren’t enough for the Red Raiders to overcome Virginia’s super-efficient offense in this 85-77 loss to the Cavaliers in overtime in the national championship game of the NCAA Tournament on Monday night.

“We’ll all remember each other. We’re all family,” Culver said, reflecting on a declaration by teammate Brandone Francis about how the runner-up is so often forgotten. “This is something we’ll cherish for the rest of our lives, but I understand where he’s coming from and how much it hurts to get second.”

As the confetti fell at US Bank Stadium, signaling the end of Texas Tech’s remarkable run through March Madness, two rounds further than any other team in program history had made it, Culver went to console seniors Francis and Matt Mooney before an extended embrace with Coach Chris Beard.

Then he left the court, maybe for good, at least as a college player, since he’s projected as a top 10 selection in the NBA draft this summer.

“I know my position. I’ve just got to pray about it, talk to my family and coaches, and see what my future holds,” said Culver, the Big 12 Conference Player of the Year who averaged nearly 19 points per game this season.

Culver’s lottery pick peer on the other side, De’Andre Hunter, bested him with a 27-point performance that came largely with Culver trying to defend him. Culver, the native of Lubbock, Texas, raised just miles from campus, missed all three shots he took in the extra period.

Hunter hit a pullup jumper on Culver with 2:21 remaining in regulation, and then Culver missed a three-pointer on the front end of the rim before Kyle Guy flicked a layup in off the glass for a 65-61 lead for the Cavaliers with 1:44 remaining.

Davide Moretti and Norense Odiase helped push the Red Raiders back to even, and Culver contributed his best play of the game in that closing stretch, a 360-degree spin dribble in the lane to elude Hunter and find space to flip in a left-handed layup.

But he just didn’t have enough of those to go around. When star players start games cold, they can be prone to forcing shots down the stretch to try to catch up, and Culver was mostly out of sync while trying to recover.

Culver had a dunk blocked by Mamadi Diakite in the first half and twice threw a lob pass into the post for a turnover. His only success came when he used his off-the-dribble quickness to find a crease in Virginia’s defense that allowed him to get close enough to the rim. The second team All-American missed his first eight attempts from the floor, finally getting a shot to fall on a pullup jumper with 11:15 left in the second half that cut Virginia’s lead 50-43.

On the final possession of regulation, after Hunter’s three-pointer tied the game at 68-all with 14 seconds remaining, Culver missed a threepointer from the left wing.

The Cavaliers can play defense, too, donning that unglamorous part of the sport as just as much of a merit badge as the Red Raiders. They had their paint-packing scheme in prime form to match the magnitude of the game, squeezing so many of Texas Tech’s possessions into the final seconds of the shot clock.

The Red Raiders had plenty of open looks at the basket, too, that they just didn’t take enough advantage of. They missed their first eight shots of the game, until Moretti’s three-pointer swished through with 7:20 elapsed. Their first five makes were actually from behind the arc, until a dunk by Owens with 6:39 left in the first half.

Texas Tech’s biggest celebrity fan, former quarterback and reigning NFL MVP Patrick Mahomes III, flexed his right bicep for the crowd when the camera showed him on the scoreboard during a timeout, and the Red Raiders could have borrowed some of his accuracy.

Mooney, the hero of the Final Four win over Michigan State, finished with only 10 points on 4-for-9 shooting after making only one shot before halftime. The senior guard, playing for his third school in the final season of a circuitous college career not unlike the other vagabonds and afterthoughts on this close-knit team that Beard assembled, was so devastated in the locker room afterward he was barely audible as he answered questions from reporters with his head hung down. AP JARRETT CULVER walks slowly around the perimeter as his Texas Tech teammates Kyler Edwards and Deshawn Corprew embrace at the end of the championship game. AP

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‘ONE LAST DANCE’ M

IAMI—By Thursday, Dwyane Wade may not be employed as a basketball player anymore.

That is the reality, like it or not. After 16 seasons as a National Basketball Association (NBA) player, after three championships, an almost-annual spot in the All-Star Game, a scoring title, three franchises, four children, an Olympic gold medal and 161 teammates, the end may have arrived.

On Tuesday, Wade plays his final home regular season game when the Miami Heat host the Philadelphia 76ers. On Wednesday, it’ll be a game at Brooklyn to end this season. Unless the Heat win both and get a lot of help in the final two days of the season, the career of Dwyane Tyrone Wade Jr. will be finished.

“I gave this game everything I had,” Wade said. “And I have appreciated every bit of it.”

The Heat still have a faint pulse in the playoff race; out of the 64 possible remaining scenarios involving Brooklyn, Orlando, Detroit, Charlotte and Miami over the next two days—the five teams still vying for various spots on the bracket, with the Nets and Magic being assured of getting into the postseason no matter what—there are only three that will send Wade into the postseason.

Obviously, the odds are not good.

That is why Tuesday is generally viewed as the farewell, even though no one will officially describe it as such. He doesn’t want it to be the end—but is acutely aware that it may be the 576th and final time he plays at AmericanAirlines Arena, all but one of those coming in a Heat uniform.

“It’s been incredible. It’s been amazing,” Wade said. “A lot of people in that arena have watched me grow, have watched me be imperfect, have watched me make a lot of mistakes in life, as well as watched me blossom and watched me do amazing things, great

things. I’m thankful for it.”

Tributes will come on Tuesday in various forms. There is a pregame series of events inside the arena. There will be videos. Wade will address the crowd. Celebrities are expected. Wade’s children will all be in attendance. Students from Marjory Stoneman Douglas High, the school where the February 14, 2018, massacre that left 17 dead in an event that touched Wade so deeply—not just because one of those victims was buried in a Wade jersey—will perform the national anthem.

There will be Wade “L3GACY” shirts given to fans, some of whom spent thousands for their seats. There will be Wade commemorative lanyards. There will be Wade apparel. Some arena workers asked if they could be excused from wearing the usual game-night garb and don Wade jerseys instead. Fans flew in from as far as Australia and China. NBA Commissioner Adam Silver sent his regards in a video.

And then, there will be a game.

The M-V-P chants will come. The ovations will be lengthy. There will be tears. And the Heat will try to make a playoff miracle happen.

“I don’t want this to end,” Heat Coach Erik Spoelstra said. “I’m literally having more fun this year and last year than in any of the other years with Dwyane.”

They are the same in so many ways, Wade and Spoelstra. Both came to the Heat as unsure young men. Both have three championship rings now. Both are likely for the Basketball Hall of Fame. When Spoelstra was promoted to head coach in April 2008, he was unsure if he’d be able to handle the job—until he met with Wade a few months later and got pumped full of confidence.

“That’s what great players do,” Spoelstra said. “You talk about Hall of Fame players, they make the other players around them better. Well, great, Hall of Fame, superstar players also make

Padilla, Bandolis seek to top Lanao netfest

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UDY ANN PADILLA and Kristine Bandolis try to put an end to Angel Denopol’s domination of the girls’ 14-and-under play as they banner the field in the Palawan Pawnshop-Palawan Express Pera Padala (PPSPEPP) Kapatagan national age-grouper which got under way at the Kapatagan and Maranding courts in Lanao del Norte over the weekend.

Padilla gets the top seeding while Bandolis heads the lower draw of their age group division which the third ranked Denopol ruled in Misamis Occidental and Molave, Zamboanga the last two weeks of the long-running tournament presented

by Dunlop.

But the 12-year-old Denopol, from Kolambugan, Lanao del Norte, appears a cinch to make it three straight in row in her age bracket though she remains wary of her rivals led by

their coaches better. And that’s what Dwyane did.”

Wade is beloved in Miami, of course, for obvious reasons. Beloved in Chicago, too, his hometown. Beloved in Milwaukee, where he took Marquette to a Final Four in 2003.

And this farewell tour— the “One Last Dance”—is a league-wide victory lap for someone NBA players rave about.

“A legend,” Toronto’s Kyle Lowry said.

“Still amazing,” Dallas’s Luka Doncic said.

“My idol,” Washington’s Bradley Beal said.

“A leader,” Detroit’s Wayne Ellington said.

“True winner,” Phoenix’s Devin Booker said.

Wade isn’t 2008 Wade, or Big 3-era Wade, or NBA Finals MVP Wade anymore. But he’s still superb, and with a flair for the dramatic — such as the buzzer-beater to top Golden State a few weeks ago. He’s been the best Heat player all season. It’s hard to imagine how Miami will replace him next season, because he is going to be clearly missed.

But that’s also part of the reason why this season is his last. Wade didn’t want to go out as a shell of his former self. He wanted to leave the stage with the fans clamoring for more, and that is precisely what has occurred. AP

Kristina Bandolis, Hannah Caberte, May Gonzales, Rio Aguinid, Erl Dominguez and Nina Bantilan among others.

Meanwhile, Kristine Bandolis, Angel Vosotros and siblings Judy Ann and Carmel Padilla are tipped to dispute the 16-under crown with Carmel Padilla and Zeiah Toribio bannering the premier 18-U side of the Group 2 tournament put by Palawan Pawnshop headed by president and CEO Bobby Castro and hosted by Byron Atay.

For details, call PPS-PEPP Sports Program Development director Bobby Mangunay at 0915-4046464.

Eric Tangub also eyes a two-title feat in the boys’ category with the Tucuran, Zambo del Sur bet bracing for a tough challenge from Lex Estillore, Steven Sonsona and Brent Cortes in the 18-under class and from Nash Agustines, Sebastian Lagamon, Estillore and Cortes in the 16-under division.

LADY BULLDOGS RETURN TO THRONE

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ATIONAL University (NU) claimed its fifth women’s crown in the last six seasons with a 3-1 conquest for a sweep of De La Salle in the University Athletic Association of the Philippines Season 81 tennis tournament on Tuesday at the Colegio de San Agustin courts in City of San Jose Del Monte, Bulacan.

The second doubles tandem of Jzash Canja and Annie Tumanda completed NU’s return to the women’s throne after a one-year absence following their 6-2, 6-2 rout of Kiezel Diaz and Jenni Dizon.

The Lady Archers led after Angel Santiago took the first singles with a 6-3, 6-1 win over Zam Dumlao, But Mae Bornia and Alliah Elline Tobias Ragunton made it 1-1 for the Lady Bulldogs with a 6-3, 6-4 first doubles victory over Jed Vallie Rayne Aquino and Arianne Nillasca.

Clarice Patrimonio then put NU ahead with a 6-3, 6-1 triumph over Aubrey Calma in the second singles.

Patrimonio, daughter of Philippine Basketball Association Legend Alvin Patrimonio, won her third season Most Valuable Player award. Shaira Rivera of this season’s third placer Ateneo, was named the Rookie of the Year.

THE career of Dwyane Tyrone Wade Jr. is bound to see its completion. AP

But NU’s bid for a golden double will have to wait as Ateneo forced a winner-take-all Game Three with a 3-0 romp also on Tuesday. The deciding tie is set at 8 a.m. on Saturday. Gab Tiamson completed the Blue Eagles’ series-tying victory with a 6-7(1), 6-4, 6-3 decision over Jeremiah Latorre.

Ateneo took a 2-0 lead after Marcen Gonzales beat Allen Manlangit, 6-4, 6-4, in the first singles and Luke Flores and Erj Gatdula repulsed Jeric Accion and Justine Prulla, 7-5, 6-4, in the first doubles.

University of Santo Tomas (UST) and Far Eastern University (FEU), meanwhile, to stay in the race for top the top spots when they tackle separate foes in women’s volleyball on Wednesday at the Filoil Flying V Centre in San Juan City.

Sharing third spot with identical 7-4 win-loss cards, the Golden Tigresses and Lady Tamaraws look to chase solo second De La Salle Lady Spikers (8-3) and leader Ateneo Lady Eagles (10-1).

Out to challenge the Golden Tigresses are the University of the Philippines Lady Maroons (6-5) who are also eyeing a berth in the playoffs. Their match is set at 4 p.m.

The Lady Tamaraws, meanwhile, will face the Lady Bulldogs (3-8) at 2 p.m.

CAMP & PLAY AT NBS UP

Camp & Play, a scientific basketball clinic held yearly the last 20 years or so, will open on Friday at the National Book Store (NBS) in Quezon Avenue, Quezon City. At right (in dark glasses) is Coach Dayong Mendoza, giving pointers to his students during last year’s Camp & Play session. Migel, Coach Dayong’s son-participant, is standing at his right. Noted coaches JV Cruz, June Bautista, Jaren Jarencio and Delayna Vera will again assist Coach Dayong, who is also known as an assistant coach at San Miguel Beer in the Philippine Basketball Association with eight PBA titles across his name. This year’s event at NBS is a 12-session affair. Call Sheila/ Camille at 3765090 or text/call JV Cruz at 09178179341 for other details.

GOLF’S ICONOCLAST SCIENTIST EXPERIMENTING ON AUGUSTA A

UGUSTA, Georgia—Bryson DeChambeau seemed about as excited as a mad scientist gets as Masters week kicked off, which meant he stopped just short of jumping for joy.

Not to worry. The jump might come on Sunday for DeChambeau, assuming the planets align, the morning dew on the golf ball is at proper levels and putts don’t bounce off the flagstick.

If not, well, all bets are off.

Golf’s most noted iconoclast—the only one in the field with irons that are all the same length— tees off in his third Masters not only with visions of a green jacket but a legitimate chance of being in the mix late on Sunday afternoon.

And why not? DeChambeau has won five times in the past year, rising from 62nd in the world golf rankings to sixth while building a reputation as both a crafty calculator and steely closer.

Not only that, he discovered something last week—just what he won’t say—that might make him just as effective with his short wedges as he has been with the rest of his game.

“I’ve had some disadvantages with a couple of the irons I’ve had for a little bit,” DeChambeau said. “And just being able to practice and getting comfortable and seeing the ball flights come out the proper way for the first time ever in my life is pretty cool.”

That’s DeChambeau. Always tweaking, always studying.

He’s called the mad scientist for a reason.

DeChambeau’s swing is a study in the science of single plane, he plays irons that are all the same length so everything can be repeatable, and he studies contours in greens like they were clues to where the late union leader Jimmy Hoffa is buried.

What he would like to be called is Masters champion. And that’s why he was working last week with new wedges—still the same length as his other irons—in search of a breakthrough that

might trim a shot or two off at Augusta National.

“I’ve been fortunate to win a lot of tournaments using the equipment that I’ve had so far, and it’s been great,” DeChambeau said. “But there’s always that little bit of room for improvement. So we’ve been working quite heavily this past week in trying to figure out some things that could give me an advantage this week.”

What may not be an advantage for DeChambeau is that there’s no green mapping book for players at the Masters. Instead of staring at diagrams of contours on a green to see how a putt breaks, he’ll have to rely on looking at the contours themselves.

But he’s got a plan for that, too, just like he has a plan for most things in his golf career.

“I have to practice a lot more hitting breaking putts because I can’t just bring out my compass and go, oh, it’s 3 percent and here it is,” DeChambeau said. “I have to look at and walk around and go, ‘OK, I’m acclimated to 3 percent.’”

BRYSON DECHAMBEAU is the only one in the field with irons that are all the same length. AP

If the calculations are all a bit too much to understand, don’t worry. Arnold Palmer would have been confused, too, and he won four green jackets.

Technology, though, is the new wave in golf, and DeChambeau is its leader in the clubhouse.

He uses words in conversation that are heard more often in physics classes than golf courses and talks about scientific advances in golf like other players might be discussing the latest in movies.

That includes spending more time than usual this week figuring out exactly what moisture on the clubface will do at Augusta National, where rain is forecast during the week. To make sure he’s doing it right, DeChambeau sprays balls on the practice range with salt water to see how they react.

“That’s going to affect the way the ball reacts on the face,” he said. “You know, there’s a percentage to that, and we have to account for that. If you don’t, you’re going to hit it to 30, 40 feet, instead of 10 feet.” AP

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SASO JOINS HUNT

SIAN Games gold medalist Yuka Saso returns to the scene of her latest triumph to challenge the best of Taiwan Ladies Professional Golf Association (TLPGA) and the Ladies Philippine Golf Tour (LPGT) as she toughens up the cast in the rich International Container Terminal Services Inc. (ICTSI) Manila Golf Ladies Classic starting on Wednesday at the Manila Golf Club inside the posh Forbes Park.

Fresh from her joint third place effort in the historic Augusta National Women’s Amateur at the home of the US Masters on Saturday, the Fil-Japanese will be bringing with her a form and confidence boosted by her five-shot triumph to retain the Philippine Ladies Amateur Open crown last month.

The long-hitting 17-year-old Saso also placed second to world No. 1 Sung-hyun Park in the inaugural The Country Club Ladies Invitational last month then flaunted her world class form by rallying from joint 11th with a closing 69 to finish in the top 3 in Augusta, Georgia.

That makes her one of the marked players in the star-studded $100,000 championship with the likes of TLPGA No. 3 Babe Liu, Thai Yupaporn Kawinpakorn, reigning LPGT Order of Merit (OOM) champion Princess Superal and fellow Symetra Tour campaigners Mia Piccio and Cyna Rodriguez all ready to dish out their best to stop the talented amateur from coming on top in this seventh leg of the LPGT and third stop of the TLPGA sponsored by ICTSI. Liu, who placed second in the first LPGTsanctioned tournament—the Party Golfers

YUKA SASO will be bringing with her a form and confidence boosted by her five-shot triumph to retain the Philippine Ladies Amateur Open crown last month.

Ladies Open—in Taiwan last October, gets the chance to test Saso as they clash in the 10 a.m. flight on No. 1 with Thai veteran Chonlada Chayanun joining the group.

A flight ahead are Superal, Lin Tzu-Chi of Taiwan and another Thai Chakansim Khamborn, while 2017 LPGT OOM winner Pauline del Rosario tees off at 9:40 a.m. against Taiwanese Chen Meng-Chu and Mina Nakayama of Japan.

Mia Piccio is also tipped to get into the early mix as the Symetra Tour veteran slugs it out with Thai Thanuttra Boonraksasat, winner of the last LPGT leg at Southwoods and amateur Chang Tzu-Yi of Taiwan, while multi-titled Yupaporn Kawinpakorn launches her drive for a follow-up to her Pradera Verde romp last January against Japan’s Miki Yamashita and Weng Liting of Taiwan at 8:40 a.m., also on the first hole.

Taiwan, including last year’s LPGT/TLPGA Midlands leg winner Ching Huang, has 25 players vying for top honors in the event co-sanctioned by TLPGA and the Philippine Golf Tournaments Inc. and backed by Custom Clubmakers, Meralco, K&G Golf Apparel, BDO, Sharp, KZG, PLDT, Empire Golf and Sports, and MY Shokai Technology Inc., while Thailand, which dominated last year’s LPGT by ruling six of 11 tournaments, has 39 entries in the 93-player field.

Launching their title bids at the backside of the tight, par-71 layout are LPGT leg winners Onkanok Soisuwan, who clashes with Taiwan’s Lee Tai-Ling and Singapore’s Amelia Yong at 7:40 a.m.; Supakchaya

Rolida, Gabasa top MVPSF regional elims

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ACOB ROLIDA survived a backside meltdown to gain the low medal honors with a 147 after a 75, while Junia Gabasa topped the girls’ elims with a second 74 in the fourth MVP Sports Foundation (MVPSF) Visayas Regional Match Play Championships at the Cebu Country Club (CCC) on Tuesday.

Rolida broke away from a three-way tie with a two-under 34 start but fumbled with a closing five-over 41 card marred by a double-bogey on the last hole which he bucked to clinch the top seeding among the 16 qualifiers for today’s (Wednesday) start of the match play phase.

Rolando Pila birdied the last hole to salvage a 74 for a 148 then nipped Aidric Chan, who bogeyed the 18th for a 74-148, in the countback for the No. 2 spot in the knockout quarterfinals of the weeklong event serving as part of the PLDT Group National Amateur Tour and conducted by the National Golf Association of the Philippines.

Chan, winner of last week’s Philippine Junior Open, settled for No. 3 followed by Joaquin Gomez, who matched Rolida’s opening 72 but hobbled with a 78 for a 150.

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Gabasa also wavered at the tough backside of the tight, tree-lined layout, ending up with a 38 for that 74 and a 36-total of 148, three shots ahead of Pamela Mariano, who rallied with a three-under 69 to snare the No. 2 spot with a 151.

Grace Quintanilla placed third with a 154 after a 78, followed by Kristine Fleetwood (88-178), Ashley Llena (86-183), Cleer Flores (95-190), Marie Suelo (102-207) and Wilma Fantonial (109-209).

Others who advanced in men’s play of the event, sponsored by the MVPSF, PLDT Group, Cignal and Metro Pacific, and hosted by CCC, were Paolo Wong, who limped with a 78 for a 151, the same output put in by Martin Mendoza, who fought back with a 74, and Joseph Alvarez, who carded a 75, while Harvey Sytiongsa and opening day coleader Carl Corpus pooled 152s after a 78 and 80, respectively.

Completing the match play cast are Santino Laurel (79-155), Mikhail Ybañez (76-156), Masaichi Otake (80-156), Alfredo Cabajar (79-157), Mark Dy (77-158), Wei Yu Gao (78-158) and Fernando Mondares (82-159), who edged Pierre Neri (80-159) on the second playoff hole for the last spot and a faceoff with Rolida.

Golden Harvest rips Wangs by 32 points

ALENCIA City Bukidnon-San Sebastian College Recoletos (SSCR) tore Wangs Basketball into shreds, 96-64, in the Philippine Basketball Association Developmental League on Tuesday at JCSGO Gym in Cubao, Quezon City.

The Golden Harvest’s 18-0 opening salvo spelled doom for the Couriers as Allyn Bulanadi and RK Ilagan led the charge for their side, which even extended the lead to as many as 33, 60-27, at the half.

Bulanadi uncorked 28 points, seven rebounds and two steals with Ilagan scoring nine of his 13 points in the first half.

Ken Villapando provided support with his 15 points and five rebounds, while JM Calma nabbed a double-double of 10 points, 11 rebounds and two blocks in the bounce back win for Valencia-SSCR. “The important thing is the boys executed our

game plan and our defense clicked,” said Coach Egay Macaraya as the Golden Harvest limited the Couriers to only 35 percent shooting to rebound from their 71-65 loss to the Centro Escolar University Scorpions on March 19.

Valencia-SSCR forced a second place tie with Metropac-San Beda in the Foundation Group on identical 4-1 cards.

Ronan Santos led Wangs (3-2) with 15 points and eight rebounds. Radge Tongco had 12.

Arvin Tolentino was held to only two points despite grabbing 12 boards as the Couriers’ two-game streak came to a screeching halt.

PHILIPPINE Olympic Committee President Ricky Vargas (second from right), along with Chairman Rep. Abraham “Bambol” Tolentino (right), induct the new Philippine Sportswriters Association officers led by President Tito Talao (third from right) of the Manila Bulletin. Also in photo are PSA officers (from left, front row) Jimmy Cantor (director, Malaya), Jun Lomibao (director, the BusinessMirror), Gerry Ramos (assistant treasurer, Spin.ph), Eduardo Catacutan (director and former president, Spin.ph), Joe Antonio (treasurer, People’s Journal), Jasmine Payo (secretary, Rappler) and Rey Lachica (first vice president, Tempo); and (back row, from left) Ramil Cruz (director, Abante Tonite), Ferdinand de los Santos (director, Abante), Abac Cordero (auditor, Philippine Star) and Ed Andaya (director, People’s Tonight). ROY DOMINGO

VARGAS: I’M NOT HAPPY WITH CULTURE AT P.O.C. O

CRUCIAL PBA MATCHES UP

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ARANGAY Ginebra and Magnolia engage in a do-or-die Game Three on Wednesday in the quarterfinals of the Philippine Basketball Association Philippine Cup. The highly anticipated match is set at 7 p.m. at the Smart Araneta Coliseum.

TNT and San Miguel Beer, whose series is tied also at 1-1, tangle in a similarly decisive duel at 4:30 p.m.

Barangay Ginebra drew first blood with an 86-75 win in Game One. There, youngsters Art dela Cruz and Scottie Thompson worked with towering Greg Slaughter to outduel the Hotshots, who were carried by Paul Lee and Ian Sangalang.

But things went astray for the Gin Kings as the Hotshots returned with a 106-77 demolition in Game Two to tie the series on Monday.

Again, Sangalang was at the forefront of attack with his 21 points that went with nine rebounds in only 21 minutes of action.

Robert Herndon and Jio Jalalon shared the spotlight and scattered 18 and 17 points, respectively, for the Hotshots.

“We have a good chance if we sustain our effort

and desire from Game Two,” Magnolia Head Coach Chito Victolero said. “We just have to control our emotions. We have to prepare hard for the game.”

Phoenix sophomore forward Jason Perkins, meanwhile, opened the Philippine Cup with a noteworthy playoff effort on the way to capturing the Cignal-PBA Press Corps Player of the Week award.

The left-handed big man out of De La Salle showed his preparedness for the playoffs after registering a new career-high 31 points on top of nine rebounds, three assists, a steal and a block to lead top seed Phoenix to a one-sided 91-76 demolition of Alaska in their quarterfinal duel.

Ramon Rafael Bonilla

PHOENIX’S Jason Perkins, seen here getting entangled with Alaska’s Jake Pascual, is named the Player of the Week.

NLY a year and barely two months into the job as Philippine Olympic Committee (POC) president, Ricky Vargas learned the hard way that it’s lonely being on top.

In as much as he wanted to cultivate changes right away within the country’s Olympic governing body, Vargas admitted it will take some more time before transformation could be effected in the POC. And for the moment, he said he’s trying to fit in to the system currently ingrained within the organization while at the same time, also attempting to nurture the changes he wanted to establish.

“Where I am not comfortable in the POC is the culture, and how my own personality or leadership is being forced to a situation that I don’t like in terms of running the organization,” Vargas disclosed in the Philippine Sportswriters Association (PSA) Forum on Tuesday at the Amelie Hotel-Manila for the very first time since being elected as POC president in February last year.

“I’m not too happy about that and we’d like to move forward to seeing to it that the culture changes into a more transparent, more honest and less political organization.”

Vargas and Tagaytay City Rep. Abraham “Bambol” Tolentino were voted president and chairman, respectively, in the process beating Jose “Peping” Cojuangco and Ting Ledesma in a court-ordered election for the top two posts at the Wack Wack Golf and Country Club.

But getting elected president is just half of the job done as Vargas had to work and deal next with a POC board that is a holdover from the previous administration.

And it’s not that easy.

“So we have to live to the culture of the board that we are trying to work with,” said Vargas, who, besides Tolentino, was also with POC Communications Director Ed Picson in the session presented by San Miguel Corp., Tapa King, Amelie Hotel-Manila, and the Philippine Amusement and Gaming Corp.

“So they have many rights, procedures, tradition and all that we’re trying to work with,” added Vargas, whose first year in the office was met by the continued unsettled leadership disputes within various National Sports Associations (NSAs), POC membership issues, changes in the POC By-Laws and Constitution, among others.

But Vargas, grandson of former Philippine Amateur Athletic Federation (forerunner of the POC) Chairman Jorge Vargas, said he is also looking at himself and try to work with the current norms in the Olympic body.

Vargas added that he is getting to understand the reason behind the advice of board member, Rep. Prospero “Butch” Pichay that getting the POC leadership is a “political job” in itself.

“I am trying to change as well if I can. If I can change—if I can live in that kind of environment.

I’m also looking at myself,” added Vargas, who has been rumored of being ousted several times as head of the POC. The good thing, Vargas stressed, is that has Tolentino on his side, referring to the chairman as his “angel.”

“He is a politician and he knows how to handle the board. That’s why I don’t want to have a board meeting without ‘Tol,’” said Vargas, who is one of three top personalities overseeing the Philippine Southeast Asian Games Organizing Committee, the other two being Chairman Alan Peter Cayetano and Philippine Sports Commission Head William Ramirez.

If there are two things Vargas is proud of in his short stint as POC chief, he said it has to do with the athletes and the proper governance of the organization.

“For the athletes and the proper governance of the association which is now fully recognized by the IOC [International Olympic Committee], by the Olympic Solidarity and by the many other associations internationally that has already congratulated us and started working with the Philippines again,” he said.

Pattaranakrueang, who mixes it up with compatriot Mookharin Ladgratok and Japanese Mimori Hii; and Wannasiri Sirisampant, who tees off at 9:50 a.m. with local bet Alex Etter and Tsai Hsin-En of Taiwan.

Still, focus will be on Saso, who has generated so much interest following a series of impressive performances with the event also serving as her final tuneup before facing off the region’s best in the second Women’s Amateur Asia Pacific Championship in Ibaraki, Japan, from April 25 to 28.

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

Mayweather now a Vicky Belo endorser?

HE wanted to regain his “Pretty Boy Floyd” image—obviously. And so, Floyd Mayweather Jr. went to Vicky Belo’s clinic in Greenbelt Makati on April 2 for TT (Thermage Treatment).

You know who Vicky Belo is, of course.

But to the unknowing, Vicky Belo is the country’s –if not Asia’s—foremost icon of beauty, master of making everybody look young, male and female—almost eternally.

Hasn’t TV anchor Korina Sanchez, the brand-new “mother” of twins, boasted of having slashed age-adding contours in her face after undergoing Vicky Belo’s TT? A giant billboard of hers at Edsa is screaming proof of it.

You are 70 and you want to look 30, who you gonna call?

Vicky Belo.

Please don’t think I am about to be her next endorser. I won’t qualify, of course, as only celebrities do—even as Vicky’s late father, Enrique Belo, was my compadre in a wedding ceremony.

Back to Mayweather.

Was there really a need for him to undergo TT, a noninvasive a.k.a. nonsurgical skin tightening treatment that uses radiofrequency technology to smooth lines and wrinkles in the face and the body, as well?

But his face still looks fine, at least by my standards.

In more than 20 years of boxing, Mayweather’s face had been barely touched as his defense has remained the timeless template in the sport.

So slippery like an eel and endowed with cobra-like reflexes, he was virtually unhittable in the face. His foes would only usually graze Mayweather on the shoulders, if not arms.

Thus, as a five-time world champion, Floyd’s 50-0, win-loss record is the best of all time, breaking the previous mark of 49-0 of the late Rocky Marciano, who also retired as an undefeated heavyweight titlist.

A certified celebrity even in retirement, Mayweather does not really need Vicky Belo’s TT. And to define TT further, it is also a procedure that helps tighten existing collagen and stimulate new natural collagen production for up to six months. A TT can also last for a year and even more, depending on the patient’s skin condition and natural aging process.

Collagen is the main structural protein found in skin and other connective tissues, and is widely used in purified form for cosmetic surgical treatments.

Aside from the skin of the face, eye bags known as the wrinkles beneath the eyes can also be smoothen out by TT, a beautifying procedure also called as a mini face lift without surgery.

Vicky Belo’s TT comes usually at $2,000 (P100,000-plus) per session, although others charge from $1,000 to $5,000.

Chicken feed for Mayweather, who was last listed by Celebrity Net Worth as having a net worth of $560 million, with Investopedia putting him somewhere between $700 million and $1 billion.

Even if we put Vicky Belo’s professional fee at $5,000, that’d still be a mere drop in the bucket for the man they now call “The Money,” who presently loves to tour the world aboard his private jet.

But did Mayweather pay Vicky Belo at all?

Or was the initial TT part of a deal making Mayweather a Vicky Belo endorser?

Knowing Mayweather, he won’t bite. Cheap.

THAT’S IT Do-or-die games between San Miguel Beer and TNT KaTropa, and Magnolia and Barangay Ginebra are expected blockbusters today, Wednesday, in the Philippine Basketball Association Philippine Cup. Point-guards keyed the wins of TNT (Jason Castro) and Magnolia (Gio Jalalon) on Monday to send their quarterfinal series to a winner-take-all. The teams with an airtight defense and a burning desire to win will prevail today. Ask Jawo.

Sports BusinessMirror

By Greg Beacham

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The Associated Press

OS ANGELES—Carli Lloyd realizes millions of casual soccer fans don’t follow the international game outside the World Cup. Some American fans haven’t paid close attention to the US women’s national team since Lloyd got her iconic hat trick to win the Final four years ago in Vancouver.

When those same fans tune in for the World Cup in France this summer, many would be shocked to find out Lloyd is now a reserve for the team she propelled to the title in 2015.

But the 36-year-old Lloyd isn’t settling for the role to which she has been largely relegated over the past two years.

Her latest performance suggested that maybe Coach Jill Ellis shouldn’t settle for it, either.

“I want to win,” Lloyd said. “I’m a winner. People can say what they want, but I know at the end of the day I can help this team lift that trophy in France, and I’m not going to stop until I can do that.”

Lloyd seized the spotlight at Banc of California Stadium on Sunday night, evoking memories of her greatest performances and decisively showing she can still deliver in the US’s No. 10 jersey, typically reserved for every team’s top playmaker.

In her first start of 2019, Lloyd largely had the role of a No. 9 forward against Belgium. And did she ever play it: Lloyd scored two goals in the opening minutes and added a second-half assist in a 6-0 rout.

“Tonight I got my chance, and I’m thankful for that chance, but nothing has changed,” Lloyd said. “I’m doing the same thing I’ve been doing from Day One for my career. I’m working hard.

I’m humble enough to know that there’s things I can improve on, and I’m not stopping. I’ve been pretty blunt about that. Those that want to doubt can doubt.”

Lloyd famously scored her World Cup hat trick in 16 minutes, and she needed just about five minutes to score her brace against Belgium. Lloyd got both goals through the air, outmaneuvering defenders and knocking home both headers with aplomb.

Lloyd then set up a goal by Alex Morgan, demonstrating her playmaking ability along with her finishing skill. With hundreds of fans wearing Lloyd’s jersey in the boisterous crowd of 20,941, their hero partly stole the show from even the 1999 World Cup championship team, which was honored on the field at halftime.

Lloyd played with a few of the 99ers early in her career, and she forged her own standard in the game with back-toback Fifa Player of the Year awards and that World Cup star turn. She became a household name and an icon of women’s sports, dabbling in everything from worldwide endorsement deals to writing her autobiography.

She was already a big-game legend before the 2015 World Cup, scoring goals to win the Olympic tournaments in 2008 and 2012—but Lloyd insists her days of excellence are far from finished.

When asked how she stayed motivated and focused to overcome age and obstacles, Lloyd cited everyone from LeBron James and Kobe Bryant to Tom Brady and Michael Jordan.

“They’re just addicted to winning, and that’s no different

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AINT PAUL, Minnesota—Native American tribes have emerged as key players in the legislative debates over whether states should legalize sports betting, with some opposing the idea because it could threaten their casinos and others supporting legalization, but only if they retain a monopoly.

In many states, tribes are fighting sports betting or taking a go-slow approach because they worry it might force them to reopen decades-old agreements that give them exclusive rights to operate casinos and offer certain forms of gambling.

“The tribes have a major-league seat at the table,” said Bill Pascrell III, a lobbyist for gambling interests that are seeking legalized sports betting across the country.

Six states have joined Nevada in allowing sports gambling since a US Supreme Court ruling last year opened the door to its expansion. Legalization is being considered in more than 20 others.

In Minnesota, a bill seeking to legalize sports betting cleared its first hurdle earlier this year, passing a committee in the state Senate. But that’s likely to be as far as it goes, in large part because the state’s politically potent tribes oppose it.

Gambling “is the only successful economic development tool the tribes have ever had,” John McCarthy, executive director of the Minnesota Indian Gaming Association, told the committee.

The tribes, which operate 21 casinos and have given millions in campaign donations, are especially concerned about allowing sports betting on mobile devices, which they fear could invite wider Internet gambling that could threaten their casinos.

In Texas, the only sports betting bill is almost certain to die. It was introduced by a Democrat, the minority party, in a state where casino operators from neighboring Oklahoma and Louisiana have donated millions to keep gambling out. Two Oklahoma tribes, the Chickasaw and Choctaw nations, have given more than $5 million to Texas officeholders and candidates since 2006.

Sports betting measures introduced in Arizona and Washington state are also considered longshots, mostly because of tribal ambivalence or opposition.

In some states where tribal gambling is prevalent, sports betting bills have not been introduced at all. That’s the case in Oklahoma, as well as California and Florida, which are

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| Wednesday, April 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DRIVEN TO FIGHT FOR MORE

I BELIEVE I CAN FLOAT….

San Diego Padres shortstop Fernando Tatis Jr. dives unsuccessfully for a base hit by the San Francisco Giants’ Tyler Austin during the fourth inning of their Major League Baseball game in San Francisco on Monday. The Padres won, 6-5. AP

than how I am as a person,” Lloyd said. “I know that I can contribute. I know what I’m capable of, and it’s just about putting the work in day in and day out, being ready for the moment, seizing the opportunity and being ready. Mentally and physically, I couldn’t have been more ready for this opportunity.”

Ellis’s decision to scale back her playing time has clearly fueled Lloyd, who previously acknowledged her disappointment with limited minutes. She had played only 34 minutes this year before Los Angeles, coming off the bench in five games.

Ellis must settle on her final World Cup roster in the next few weeks, so those decisions are taking up much of her time. When asked about Lloyd’s potential to play her way into a bigger role, Ellis gently deflected the notion, noting that Lloyd already has an important part to play in France.

“What we got is kind of what we know is Carli,” Ellis said. “I’ve said she’s a game-changer, whether she’s on the pitch or coming onto the pitch. That’s her role for us. I thought tonight, she was sharp, fantastic, played her role perfectly in terms of when she went to the 9, getting on the end of things and getting results. That’s why she’s special. That’s what I want to see from her, and she delivered tonight. I think it just speaks of our depth and our ability to have multiple players come in and be a difference-maker for us.”

Pelé leaves French hospital to return to Brazil

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CARLI LLOYD: I want to win. I’m a winner. AP

ÃO PAULO—Pelé left a Paris hospital on Monday after being treated for a urinary infection. The 78-year-old Pelé, who has been frequently hospitalized in the last few years for kidney and prostate procedures, was under care in the French capital since last Wednesday.

The soccer great said in statement that he will be back home in Brazil “ready to work again” after a five-day stay at the American Hospital of Paris.

“I suffered from a severe urinary infection that demanded medical and surgical assistance as an emergency,” the three-time World Cup winner said. “I want to profoundly thank you for the positive thinking and good wishes.”

Pelé’s spokesmen Joe Fraga and Pepito Fornos did not say whether Pelé’s treatment has been finished or if

NATIVE AMERICAN TRIBES PLAY MAJOR ROLE IN BETTING DEBATE

THE Navajo Nation’s Twin Arrows Casino in Flagstaff, Arizona, is pushing for a measure that would give tribes the exclusive right to operate sports betting off their reservations in exchange for sharing winnings with the state. AP

he will continue recovering at a hospital in São Paulo.

Pelé was taken to the hospital after an event with Kylian Mbappe, the French forward who has drawn comparisons with the Brazilian great after helping France win the World Cup last year as a teenager The two are ambassadors for a Swiss watchmaker.

Earlier on Monday, striker Neymar of Paris SaintGermain visited Pelé and published a picture of the former footballer looking well on his hospital bed.

In November 2014 Pelé stayed in a São Paulo hospital for two weeks, including some time in intensive care, because of a urinary-tract infection.

At the time, his Brazilian doctors said intensive care was needed because of excessive inflammation in his body.

Pelé’s meeting with Mbappe had initially been planned for last November but was postponed because of the Brazilian’s poor health at the time. AP home to politically influential tribes that have been cool to the idea.

But elsewhere, casino-operating tribes are the ones leading the legalization efforts.

The Mohegan and Mashantucket Pequot tribes have exclusive rights to casino gambling in Connecticut and are working with the governor’s office to add sportsbooks. Two tribal casinos in New Mexico began running sportsbooks after the Supreme Court decision, even though the tribes never received explicit permission from the state.

In North Carolina, a bill pushed by the Eastern Band of Cherokee Indians would allow the tribe to offer betting on sports and horse races at its casino near Great Smoky Mountains National Park, without forcing it to make any substantial concessions.

Conservative religious groups have warned about the dangers of more gambling, but the legislation has so far sailed through committees in the state Senate. The tribe is one of the state’s top political contributors.

The bill’s sponsor, Republican Sen. Jim Davis, lauded the tribe for bringing jobs to an otherwise distressed portion of western North Carolina.

“They’ve been incredibly good stewards of the revenue, and it’s transforming that community,” he said.

Like other powerful interest groups, tribes ensure they have access to lawmakers and governors through political contributions. Tribal governments have contributed more than $114 million to state-level candidates and political committees over the past decade, according to an Associated Press analysis of data compiled by the National Institute on Money in Politics.

In some states, including California, allowing sports betting would probably require a constitutional amendment.

That and tribal reluctance means the NBA’s Sacramento Kings will have to wait longer, perhaps indefinitely, to allow gambling in a suite the team dedicated for that purpose inside the Golden 1 Center arena.

Arizona is the rare example of a state where tribes are the key players in the legalization debate but are on opposite sides.

The Navajo Nation is pushing for a measure that would give tribes the exclusive right to operate sports betting off their reservations in exchange for sharing winnings with the state. Tribes could put betting kiosks in non-tribal bars and private clubs. AP

God of the living

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EAR God of the living, in this season of Lent, You call us to return to You with all our heart that we may know the fullness of Your love. In faith and hope we pray: Oh God, in Your mercy hear our prayer. Help us to know Your forgiveness and to forgive one another. Inspire us to greater prayer, fasting and almsgiving. Grant wholeness and health to those who suffer infirmity of mind, body or spirit. Encourage us to be generous to those who are lacking in many things. May God grant us every grace and blessing we need to grow in faith, hope and love these forty days of Lent, through Jesus, our hope for everlasting life. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

STUDY SAYS CATS REACT TO SOUND OF THEIR NAME D2

Wednesday, April 10, 2019

Streaming to subscriptions: Video games enter new frontiers A PERSON in Jersey City, New Jersey, playing Apex Legends, the Electronic Arts game that got 50 million players worldwide in its first four weeks.

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By Mae anDeRSon The Associated Press

EW YORK—The video game industry is entering new frontiers.

In the past, you plunked down $60 at GameStop for a copy of Grand Theft Auto or Madden NFL and played it out—after which you could trade it in or let it gather dust.

Now, you’ll increasingly have the choice of subscribing to games, playing for free or possibly just streaming them over the Internet to your phone or TV. Welcome to a new world of experimentation in an industry that hasn’t been seriously shaken up since Nintendo launched its home gaming console in the US in 1986 or when mobile gaming surged in popularity a decade ago. “We’re in an environment where people want content and media when they want it, how they want it,” CFRA analyst Scott Kessler said.

“You can play a great video game with a console or on a computer, or with a mobile device and you might not have to pay anything. That’s a dramatic departure from even a few years ago.”

Of course, people will still buy and use traditional video games and consoles for years to come. But as games have become more accessible online and on mobile, it is becoming harder to convince people to spend a chunk of money upfront, said Joost van Dreunen, cofounder of research company SuperData.

Game retailer GameStop’s shares fell on Wednesday, a day after it projected a revenue drop of 5 percent to 10 percent in 2019. And major video game publishers Electronic Arts and Activision Blizzard have announced layoffs.

Responding to changing consumer behavior, video game makers and new entrants like Google are offering new ways to play.

GAME STREAMING BIG players are entering the arena: Google announced Stadia, a console-free game streaming service due out this year. The platform will store a game-playing session in the cloud and let players jump across phones, laptops and browsers with Google’s software.

Google didn’t say how much its new service will cost, whether it will offer subscriptions or other options, or what games will be available at launch—all key elements to the success of a new video-game platform. Google will be hoping to avoid the fate of OnLive, which debuted in 2010 and streamed highend video games over the Internet. The service had promise, but failed to garner a big enough user base. It shuttered in 2015.

SUBSCRIPTIONS APPLE announced a subscription service that some

are calling the “Netflix of Games.”

Apple Arcade subscribers will get to play more than 100 games, curated by Apple and exclusive to the service. Games can be downloaded and played offline—on the Apple-made iPhone, iPad, Mac and Apple TV. Notably, Apple says players won’t have to pay for virtual weapons and other extras—something free mobile games typically charge for. The company didn’t say how much Arcade will cost when it launches this fall.

FREE-TO-PLAY GAMES AND then there is Fortnite, a free-to-play game that has become a massive hit with its “battle royal” mode winning over millions of fans. In this mode, 100 players battle one another for weapons and armor until only one player is left. Created by Epic Games, which is backed by Chinese mobile behemoth Tencent, a key aspect of the game is being able to play it on anything from your phone to a decked-out gaming PC. “I like the interactiveness and being able to play with your friends,” said Patrick Penfield, a Syracuse University student. “There are infinite possibilities.”

Free-to-play games such as Fortnite make money from in-app purchases. In Fortnite, for instance, players use real-world money to buy for their characters outfits, gear or “emotes”— brief dances that have become a cultural phenomenon performed on playgrounds, in social-media posts, and in the scoring celebrations of professional athletes.

Penfield loves that Fortnite is free and says he can’t see himself spending $60 again for a game upfront. He estimates he spends about $10 a month on in-game purchases—meaning he’s spending twice as much in just one year.

The trend started a few years ago with Candy Crush and other mobile games that appealed to casual gamers looking to pass the time on a subway or doctor’s waiting room. The success of Fortnite shows that this model works with more sophisticated styles of games, too. Despite being free to play, it raked in an estimated $2.4 billion in 2018, according to SuperData.

And there are many signs Fortnite isn’t a one-hit wonder. Electronic Arts’ Apex Legends got 50 million players worldwide in its first four weeks. While it doesn’t have a mobile component—yet—its style of game play and revenue model are similar to Fortnite.

Meanwhile, Activision Blizzard is working with Tencent on a mobile version of its popular Call of Duty first-person shooter franchise.

But it’s a gamble if users don’t spend enough money in the game itself.

“Even though we can start to see the shape of things to come, it will take a while before they come into focus,” van Dreunen said. n

TRAVEL THIS SUMMER WITHOUT EVER WORRYING ABOUT ROAMING IF you’re gearing up for your summer getaway, you may have thought about a little thing called roaming.

It’s always a hassle—you just got everything packed, and now you need to think about expensive call and text fees, too?

Luckily, popular messaging app Viber just made things a lot simpler. With the launch of its Local Number subscription service, you can own a phone number in your country of destination, so anyone outside of the Viber platform can contact you at local rates with no roaming costs whatsoever. It’s every traveler’s dream come true.

Live like a local with this free, convenient service.

You can give out your local number during vacation to make reservations, book tours and contact friends you meet along the way. Don’t forget to leave your number with everyone back home so they can get in touch with you, too.

Available both for iOS and Android versions of the Viber mobile app, Viber Local Number is now available globally, offering the option to own local phone numbers in the United Kingdom, United States and Canada, with more countries expected to be added in the near future. Through their Viber Local Number, users can receive unlimited incoming calls and SMS messages.

To celebrate the launch, Viber is offering the first 10,000 subscribers an introductory pricing of P105/ month for life. After the promo, standard pricing will take effect at P265/month, and can be canceled every month at no cost. To get their Viber Local Number now, users can open the Viber app’s “More” screen and be local instantly.

“The new Viber Local Number enriches our users in a way that makes Viber the most powerful communication app out there,” says Viber CEO Djamel Agaoua. “We are excited to offer people new ways to be closer and more relevant to what matters and is important to them. Traveling abroad no longer needs to hassle users in terms of communication, since this new feature gives tourists a local presence no matter where they are.”

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Wednesday, April 10, 2019

Pet Corner BusinessMirror

Meow hear this: Study says cats react to sound of their name SHELLEY, an adopted cat, at its new home in Philadelphia. A study released on April 4 suggests house cats respond to the sound of their own names.

Researchers said it’s the first experimental evidence that cats can distinguish between words people say. AP

By Malcolm Ritter The Associated Press

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Alex Pettyfer, 29; Haley Joel Osment, 31; Shay Mitchell, 32; Dion Phaneuf, 34.

Scientific Reports. In four experiments with 16 to 34 animals, each cat heard a recording of its owner’s voice, or another person’s voice, that slowly recited a list of four nouns or other cat’s names, followed by the cat’s own name.

Many cats initially reacted—such as by moving their heads, ears or tails—but gradually lost interest as the words were read. The crucial question was whether they’d respond more to their name.

Sure enough, on average, these cats perked up when they heard their own name.

Kristyn Vitale, who studies cat behavior and the cat-human bond at Oregon State University in Corvallis but didn’t participate in the new work, said the results “make complete sense to me.”

Vitale, who said she has trained cats to respond to verbal commands, agreed that the new results don’t mean that cats assign a sense of self to their names. It’s more like being trained to recognize a sound, she said.

Monique Udell, who also studies animal behavior at Oregon State, said the study shows “cats are paying attention to you, what you say and what you do, and they’re learning from it.” n

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EW YORK—Hey Kitty!

Yes, you. A new study suggests household cats can respond to the sound of their own names.

No surprise to you or most cat owners, right? But Japanese scientists said on Thursday that they’ve provided the first experimental evidence that cats can distinguish between words that we people say. So you’re kind of like dogs, whose communication with people has been studied a lot more, and who’ve been shown to recognize hundreds of words if they’re highly trained. Sorry if the comparison offends you, Kitty.

Atsuko Saito of Sophia University in Tokyo says there’s no evidence cats actually attach meaning to our words, not even their own names. Instead, they’ve learned that when they hear their names, they often get rewards like food or play, or something bad like a trip to the vet. And they hear their names a lot. So the sound of it becomes special, even if they don’t really understand it refers to their identity.

Saito and colleagues describe the results of their research in the journal

DOH conducts spaying and neutering of dogs and cats in Cavite THE Department of HealthCalabarzon staff and veterinarians of Cavite and HumaneSociety International pose for a photo before the start of the spaying and neutering activity in General Trias, Cavite, on April 5.

THE Department of Health-Calabarzon, together with the Provincial and City Veterinary Offices of Cavite and Humane Society International, conducted recently “Oplan Red: Operational Plan for Rabies Elimination in Dogs,” which included the spaying and neutering of dogs and cats in various areas of Cavite, as part of the National Rabies Prevention and Control Program for the prevention and control of rabies in areas where there has been high incidence of animal-bite cases. Oplan Red was conducted from April 2 to 5.

“Isa ito sa mga pinakamabisang paraan upang maiwasan ang pagkalat ng rabies sa komunidad, at upang makaiwas na rin ang paggala ng mga aso sa lansangan dahil mapipigilan nito ang kanilang pamamasyal sa labas ng bakuran kapag sila ay nakapon. The less stray dogs in the streets the safer the people in the community,” Regional Director Eduardo C. Janairo said of the spaying and neutering activity.

“Domestic dogs are liable for over 99 percent of human deaths due to rabies. That is why it is important that dog population be managed through responsible pet ownership, rabies vaccination and spaying/neutering to reduce the incidence of rabies in the community,” he emphasized.

There was a total of 215 dogs and cats spayed in Cavite during the four-day activity. There were 52 in Tanza, 55 in Trece Martires City, 58 in Cavite City and 50 in General Trias.

Oplan Red was introduced to all Provincial Veterinary Offices and local government units where there was a need to fully implement the

www.businessmirror.com.ph

HAPPY BIRTHDAY: Mental, physical and spiritual travel will lead to personal growth and a better understanding of what you want out of life. Revisit the past, and tie up loose ends that need to be put to rest. Refuse to let anyone manipulate or coerce you into something that will stop you from reaching the destination that will contribute to your happiness. Your lucky numbers are 6, 11, 17, 24, 31, 37, 43.

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ARIES (March 21-April 19): Learn from experience, try new things and point out if someone is doing something that is likely to cause you grief or stand in your way. Being honest about your intentions will help you avoid interference.

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TAURUS (April 20-May 20): Don’t dwell on the impossible. Concentrate on what you can do, and make it a point to clear up any unfinished project, business or situation that needs to be resolved. Having a clean slate will lead to new beginnings. HHH

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GEMINI (May 21-June 20): Put your energy into something that counts, not into helping someone else advance. If you take on too much or contribute to something that isn’t going to benefit you directly, you will have regrets. HHH

d

CANCER (June 21-July 22): Settle any differences you have and move on. Don’t let an emotional matter spin out of control when a little ingenuity and discipline will help you stifle an unnecessary conflict. HHH

e

LEO (July 23-Aug. 22): Call in favors, and get together with people you have worked with. You’ll be offered inside information that will help you make a worthwhile move. Be open to suggestions, but do the legwork necessary to reach your goal. HHHH

f

VIRGO (Aug. 23-Sept. 22): Evaluate partnerships and consider any adjustments you can make to even out responsibilities.

Emotional anger won’t help you get what you want, but a solid plan that is based on equality will. HH

g

LIBRA (Sept. 23-Oct. 22): Live and learn.

Don’t hold a grudge, but don’t forget what’s happened in the past. Staying neutral will make a difference in the way you handle others, as well as how you deal with responsibilities. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Let go of the past and those who have caused drama in your life. Pay off old debts, and set guidelines that will help you better handle your personal finances. Aim to eliminate stress, and incorporate discipline and stability. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Put your energy where it counts. If you waste time bickering with someone over something that is petty or can end up making you look bad, you’ll have regrets. Make personal changes that improve your emotional well-being. HHH

plan, including training on population control like neutering and spaying for rabies prevention and control.

It included the identification and classification of provinces, municipalities, cities and barangays into high risk, medium, low, candidate-free zone and officially rabies-free zone. Spaying and neutering is part of the dog/cat population control activity under the Rabies Prevention and Control Program.

“This will not only reduce the number of unwanted dogs/cats roaming the streets but it will also be beneficial to the animals because it reduces the risk of acquiring reproductive-related diseases and illnesses,” he emphasized.

“It will also prevent uterine infections and breast cancer, which is fatal in about 50 percent of dogs and 90 percent of cats. I encourage every responsible pet owner to spay your pet because it is the best

protection from these diseases,” he said.

According to the regional rabies prevention and control unit, there were a total of 92,474 animal bites cases in Calabarzon for 2018. The province of Rizal had the highest number of cases with 28,430, followed

by Cavite with 20,857, Batangas with 16,116, Laguna with 14,638 and Quezon with 12,433. There were 30 recorded deaths from rabies.

“We have to limit dog population in the community, specifically in areas where they are unmanaged and tend to roam around. We need to reduce the problems they may cause in order to facilitate more effective rabies control.”

“Community cooperation is very important, including responsible pet ownership, better veterinary care, and regular dog vaccination, all these will reduce the risk of rabies transmission,” he stressed.

j

CAPRICORN (Dec. 22-Jan. 19): Look at what you can accomplish, and implement the changes necessary to reach your goal. Fix up your surroundings to suit your needs. Having a place to develop a project or pursuit you want to achieve will enhance your success. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Get back to basics. Open your doors to people working toward a similar goal or those wanting to pitch in and help you bring about positive changes.

Self-improvement and distancing yourself from bad influences are in your best interest. HHHHH

l

PISCES (Feb. 19-March 20): Don’t let emotions come between you and common sense. Arguing will be a waste of time.

Choose the best way to offer your services, suggestions or hands-on help without paying for something that isn’t your debt. Avoid indulgent behavior. HH BIRTHDAY BABY: You are giving, open-minded and carefree.

You are current and trendy.

‘flip sides’ BY JEFF CHEN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Got an A+ on, say 5 Sticky-sounding particle 10 Dadaist Jean 13 Entrance hall 15 Tree that symbolizes Canada 16 Hawaiian ring 17 Formal workout wear?

19 Org. checking bags 20 Ill will 21 “Yadda, yadda, yadda” 23 Steals or assists, briefly 24 Narc’s unheralded find?

27 Hamster, e.g.

28 ___ Hawkins dance 29 10:1, perhaps 30 Story development shape 31 Andrews or Burnett 32 Android competitor 34 Feudal Japanese ruler’s weaponry display?

39 “N.Y. State of Mind” rapper 40 Many execs’ degrees 41 Back of a goal

3 Mayberry redhead 4 46 TV host Gibbons 47 Fall back, as a tide 48 Latin translation of author Alice or H.H.?

51 Lane of The Daily Planet 52 Figure skating jump 53 Flashy colors 55 Big stretch?

56 Bet taker’s Kindle tell-all?

60 ___ Z (1990s-2000s cohort) 61 Revolutionary Vladimir 62 Sport using bamboo swords 63 Louvre contents 64 Utopias 65 Realizes DOWN 1 Back, on a boat 2 They’re placed under drinks 3 Pirate costume part 4 Credit alternative 5 Controversial food letters 6 Martial ___ 7 Mental grasp

8 QB-protecting group (NO LIE anagram) 9 Hardly independent 10 “Curiously strong” mint 11 Flipped, as a house 12 Instruments with pedals 14 Go bad 18 Country once known as Byelorussia 22 Just a touch 23 Rejuvenating resort 25 Revered Norse god 26 Single guy’s sidekicks 28 “Sonic the Hedgehog” maker 32 Really focused 33 “Odyssey” peak 35 Hack-a-Shaq target 36 X or Black ride 37 Two-person meeting 38 Installment at a site?

42 Conan O’Brien’s channel 43 Salsa brand 44 Less wealthy 45 Words of clarification 46 Evita star Patti

9 ___ gas (argon, e.g.)

4 50 Hit a new low?

51 Frontal and occipital 54 “It’s a mouse!!”

57 Relatives 58 Powerful connections 59 Bout-ending blows, briefly

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, April 10, 2019

D3

Felicity Huffman, 12 other parents to plead guilty in college scheme TROYE SIVAN

SMART OFFERS SUBSCRIBERS CHANCE TO WATCH TROYE SIVAN LIVE IN MANILA

DON’T get tired of love songs just yet. Smart Music Live, in partnership with MMI Live, is bringing in Australian pop sensation Troye Sivan for his very first performance in Manila for The Bloom Tour at the Mall of Asia Arena on May 1.

Troye Sivan’s Manila stop is the latest from Smart Music Live’s world-class local and international concert lineup, also known for providing exclusive perks to music lovers and subscribers this year.

Catch Troye Sivan sing his hits “Youth,” “Dance To This,” “My My My” and a lot more live in Manila as subscribers can get a chance to win a pair of free tickets through Smart Music Live! Purchase Smart Prepaid load and data cards in select SM, 7-11, and Robinsons stores, or online via Lazada, Shopee or the Smart web site. Activate the number, top-up GigaSurf 99 with Video Every Day, and join the Smart Music Live booth or Smart Hub activities. Join the Smart segment or game. Post a photo on Facebook, Twitter, or Instagram with the hashtags #SmartTroyeSivan and #SmartMusicLive and follow Smart on social media.

Troye Sivan joins other hitmakers previously featured

by Smart Music Live. The stellar lineup included Maroon 5, Bruno Mars, Ed Sheeran, Niall Horan, Fifth Harmony, Britney Spears, Shawn Mendes and Oasis’s Liam Gallagher. Smart Music Live also brought in hip-hop and house acts Kid Ink and Dada Life to headline the Plus63 Music & Arts Festival in Cebu earlier this year.

Exclusive updates on Troye Sivan live in Manila and other events are available at facebook.com/smartcommunications.

BLIND SPOT BRUCE C.

NEW ROMANCE

SO the female celebrity, who recently figured in a controversy, has seemed to have finally moved on from what seemed to have been a traumatic experience. What better way to move on from a bad romance than with a new love, right? The new man in the celebrity’s life is reportedly approved by her mom, who can be difficult. The mom, incidentally, never liked her daughter’s ex. Speaking of the ex, we wonder what and how is he doing as he hasn’t been visible since that thing between them happened.

IS SHE NOW A MOM?

SO the girl who is said to be pregnant has reportedly given birth and everyone is interested if she will go back to show business. The baby’s father, if there is indeed a baby, is reportedly an actor with whom the girl had an intense relationship with. It’s not clear whether they are still together as the guy is very very private. Their relationship has never been made public, too. The actor is said to be dating his leading lady but there’s no confirmation there, too.

CHANGE OF IMAGE

THE sexy star is no longer accepting sexy roles because her benefactor, a politician, has told her to stop. The star’s sudden change of image is because she doesn’t want to lose the said benefactor, who is conservative but seems not averse to having extramarital affairs. The sexy star has a boyfriend who she likes showing off in public but everyone knows she’s really with the politician.

WOUNDED SOULS

SO the actress, who is very passionate and slightly high strung, is said to be dating the actor, who is known to be troubled. Everybody hopes it will work out with these two troubled souls. They aren’t bad people. They’ve just gotten a raw deal in terms of their love lives and everyone is hoping that they will be OK together, and not trigger anything with each other as their former relationships have.

NORMAL BEHAVIOR

THE recent controversy involving this young actor didn’t surprise those he has worked with. In fact, sources say he doesn’t seem to be under the influence of drugs and alcohol when that thing happened. That’s just how the young actor is and he claims that he wasn’t drunk or anything but confused at what happened.

B

By Alanna Durkin Richer The Associated Press

OSTON—Desperate Housewives star Felicity Huffman and a dozen other prominent parents have agreed to plead guilty in the college admissions bribery scam that ensnared wealthy families and athletic coaches at some of the nation’s most selective universities, federal authorities said on Monday.

The actress and the other parents were charged last month in the scheme, which authorities say involved rigging standardized test scores and bribing coaches at such prestigious schools as Yale and Georgetown.

Huffman, 56, was accused of paying a consultant $15,000 disguised as a charitable donation to boost her daughter’s SAT score. Authorities say the actress also discussed going through with the same plan for her younger daughter but ultimately decided not to.

She will plead guilty to a single charge of conspiracy and fraud, according to court documents.

Those charges are punishable by up to 20 years in prison, but the plea agreement indicates prosecutors will seek a sentence of four to 10 months.

Experts have said they expect some parents will avoid prison time if they quickly accept responsibility. All of the defendants will have to return to Boston to enter formal guilty pleas, but no new court dates were set.

Other parents charged in the scheme include prominent figures in law, finance, fashion, the food and beverage industry, and other fields.

It’s the biggest college admissions case ever prosecuted by the Justice Department. The scandal embroiled elite universities across the country and laid bare the lengths to which status-seeking parents will go to secure their children a coveted spot.

The consultant, Rick Singer, met with Huffman and her husband, 69-year-old actor William H. Macy, at their Los Angeles home and explained to them that he “controlled” a testing center and could have somebody secretly change their daughter’s answers, authorities said. Singer told investigators Huffman and her husband agreed to the plan.

Macy was not charged. Authorities have not said why.

In a statement offering her first public comments since her arrest, Huffman apologized, took responsibility for her actions and said she would accept the consequences.

“My daughter knew absolutely nothing about my actions, and in my misguided and profoundly wrong way, I have betrayed her. This transgression toward her and the public I will carry for the rest of my life.

My desire to help my daughter is no excuse to break the law or engage in dishonesty,” she said.

The streaming service Netflix said on Monday that the April 26 release date of a film starring Huffman, called Otherhood, will be moved with a new release date to be determined.

Michael Center, the former men’s tennis coach at the University of Texas at Austin, has also agreed to plead guilty, prosecutors said on Monday. Center was accused of accepting nearly $100,000 to help a nontennis playing applicant get admitted as a recruit.

California real-estate developer Bruce Isackson and his wife, Davina Isackson, who are pleading guilty to participating in both the athletic recruitment and exam rigging schemes, are cooperating with

FELICITY HUFFMAN arrives at federal court in Boston on April 3 to face charges in a nationwide college admissions bribery scandal.

AP

prosecutors for a chance at a lighter sentence.

“We have worked cooperatively with the prosecutors and will continue to do so as we take full responsibility for our bad judgment,” they said in a statement.

Actress Lori Loughlin, who played Aunt Becky on the sitcom Full House, and her fashion designer husband, Mossimo Giannulli, are charged with paying $500,000 in bribes to get their two daughters admitted to the University of Southern California as rowing recruits, even though neither participated in the sport. They were not among those who agreed to plead guilty, and they have not publicly addressed the allegations.

Loughlin and Giannulli may be hoping they can get a better deal once the media attention dies down, said former prosecutor Adam Citron. They are also accused of paying much more than Huffman and some other parents, which would call for stiffer penalties under the sentencing guidelines.

Prosecutors “are likely trying to hold her out as an example, so I would assume the plea deal was not the same plea deal as the other defendants,” said Citron, an attorney at New York’s Davidoff Hutcher & Citron Llp. Singer, the consultant, pleaded guilty to charges including racketeering conspiracy on March 12, the same day the allegations against the parents and coaches were made public in the so-called Operations Varsity Blues investigation. Singer secretly recorded

his conversations with the parents, helping to build the case against them, after agreeing to work with investigators in the hopes of getting a lesser sentence.

Several coaches have also been charged, including longtime tennis Coach Gordon Ernst who’s accused of getting $2.7 million in bribes to designate at least 12 applicants as recruits to Georgetown. Ernst, who was also the personal tennis coach for former first lady Michelle Obama and her daughters, and other coaches have pleaded not guilty.

Former Yale University women’s soccer Coach Rudy Meredith has pleaded guilty to accepting bribes to help students get admitted and has been cooperating with authorities.

Stanford’s former Sailing Coach John Vandemoer also pleaded guilty to accepting $270,000 in contributions to the program for agreeing to recommend two prospective students for admission.

Stanford University expelled a student who lied about her sailing credentials in her application, which was linked to the scandal. The university quietly announced it had rescinded the student’s admission in a short statement posted on its web site April 2 after determining “some of the material in the student’s application is false.”

University officials previously said the student was admitted without the recommendation of Vandemoer. n The Associated Press Writer Olga R. Rodriguez in San Francisco contributed to this report.

GMA declares P2.187-B cash dividends GMA Network’s Board of Directors approved the declaration of cash dividends totaling P2.187 billion, or P0.45 per share, during a meeting held at the GMA Network Center on March 29.

The dividend will be paid on May 14 to shareholders of record as of April 22.

The network has declared total dividend per share and total dividends amounting to P5.26 billion and P24.933 billion, respectively, from 2008 to 2019.

GMA has consistently declared cash dividends each year since its IPO launch in 2007 and has been paying out cash dividends equivalent to almost 100 percent of the company’s net income every year.

In terms of ratings performance, the network is still the viewers’ station of choice based on the latest data from the industry’s widely trusted ratings service provider Nielsen TV Audience Measurement. GMA registered an average total day people audience share of 36.4 percent in the National Urban Television Audience Measurement (Nutam) for partial March (March 1 to 27; with March 24 to 27 based on overnight data), which outscored ABS-CBN’s 35.5 percent.

In the morning block, the network posted a 32-percent people audience share, versus rival’s 29.2 percent.

GMA also maintained its lead in the evening

block, including primetime, with 38.4 percent as against ABS-CBN’s 37.1 percent.

Similarly, the network continued to dominate in its bailiwicks Urban Luzon and Mega Manila, which respectively account for 72 percent and 60 percent of all urban viewers in the country.

GMA got an average total day people audience share of 39.8 percent in Urban Luzon, compared to ABS-CBN’s 30 percent.

In Mega Manila, based on official data from March 1 to 23, the network kept its winning streak with an average total day people audience share of 41.6 percent, versus the competition’s 27.1 percent.

Furthermore, GMA shows also ruled the list of Nutam’s overall top-rating programs for March with Kapuso Mo, Jessica Soho (KMJS) remaining unbeatable in the No. 1 spot.

It was followed by Onanay, Magpakailanman, Daddy’s Gurl, Sahaya, Kara Mia, 24 Oras, Pepito Manaloto and Studio 7.

Completing the list were Daig Kayo ng Lola Ko, TODA One I Love, Amazing Earth, Asawa Ko, Karibal Ko, Bubble Gang, Kapuso Movie Night, Eat Bulaga, 24 Oras Weekend and Wowowin.

GMA dominated both Urban Luzon and Mega Manila lists as well, taking 8 and 9 spots out of the top 10 programs, respectively.

JESSICA SOHO’S eponymous weekly news magazine show remains the No. 1 show in the list of Nutam’s overall toprating programs for March.

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Wednesday, April 10, 2019

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Managing your manager SUI GENERIS CARLO ATIENZA

PASS IT ON: SAKS FIFTH AVENUE PRESIDENT MARC METRICK

biblisko@gmail.com

W

HEN I was still a student, the teachers I feared the most were not the strict and stern ones. They were actually the teachers I remember even until now with a smile to my face. Because even if they were strict, they knew what they were talking about. The kind of teachers I feared the most were the teachers who did not know what they were doing, and it showed in the way they talked about the subject that was supposed to be their metier.

And even up to now, the same holds true in my work—I would rather work with someone who knows what they are doing, rather than someone who is in position who does not. I say this because someone who knows what they are doing is predictable and consistent, and it becomes easier to come up with strategies and innovations, and present them in a manner which I know will be well-received. I have realized I thrive when my manager understands what they are doing because I know I can easily follow and I can help them achieve the goals they set, and this worked for me.

I worked under someone who was easily pleased because we were so aligned, we were able to implement several significant projects for the organization. This was during my first year of work and I was fortunate enough to be working under someone who not only knew what she was doing but was also wise enough to leverage my skills to the team’s advantage. With this kind of manager, it is easy to do your work because you share the same values and perspective. If you have this kind of manager, take advantage to learn as much as you can.

But be cautious also that you differentiate yourself from your manager. While they are wise and can show you how to navigate the intricacies of the work, you need to find your own voice and management style. You cannot live forever under their wings, or under their shadow. Sooner than later, you will have to lead your own team. Finding your own way will also safeguard you from being disillusioned when you discover a point of divergence from your own values and ways of working with those of your manager’s.

But these kinds of managers are the best ones to help you find confidence in your own strengths and help you find your own leadership style. I know I did because I can see my management style is similar to my first mentor. And even if it is a different industry, my management style is still the same.

I have also worked under a bossy know-it-all.

When I became a supervisor, I had to submit reports to this manager from the different members of my team. One report she rejected because she said the content was not very helpful and did not reflect what was accomplished. When I reviewed the report, the content was actually accurate. I reformatted it and presented it to her. She was ecstatic. She said it was what she was looking for. And suddenly I realized she was after form rather than function. While the report was accurate, it was not in the format which she could understand easily. After that, it became easier for me to have reports approved by her.

With this kind of manager, you have to make it simple for them. They might be in a hurry to take the time to understand reports, and they need the information right away. Or, they simply do not understand that side of the business which you exceptionally do well. Take this opportunity to help your manager understand your work and in the process make them look good. They will appreciate your work more and they will realize the invaluable

MARC METRICK has been reinventing the luxury chain’s business since he took on the top role at Saks Fifth Avenue in April 2015. The department store is in the last phase of a $250-million redevelopment of the storied Saks Fifth Avenue flagship in Manhattan just as luxury rivals Neiman Marcus and Nordstrom expand into the city.

Metrick shared some of his insights and experiences with AP retail writer Anne D’Innocenzio. Questions and answers have been edited for brevity and clarity.

What does your day-to-day work look like?

No day is ever the same, but you can typically find me meeting with and supporting my team, along with connecting with our supplier partners and engaging with front-line associates, as well as customers during frequent stores visits.

How do you recruit the right people?

Aside from the table stakes of technical skills, it is about an individual’s willingness to be uncomfortable with what we have to do and how we are going to do it. Our industry is in a time of great change and, while I believe we still need subject matter expertise, the people I am looking for understand that we need to be disruptive. The more uncomfortable we are, the more confidence I have that we are changing for the better.

What have you learned about problem-solving over the years?

There is not a perfect solution for every problem. If you are moving fast enough, you are probably solving multiple problems each day. The goal is to find the win-win and move on. Letting the perfect solution get in the way of finding a great solution can stifle momentum.

contribution you bring to the team, and how you contribute to their success. A good manager will only be as good their team members. You should also take this as an opportunity to learn more about the other side of the business so when an opportunity arises, you will be next in line for promotion.

The other type of manager is what I call the executive’s sycophant. This is the kind of manager who talked their way up the corporate ladder.

They say whatever the executive wants to hear but at the same time, blames everybody else for failures while hogging all the success—even if they did nothing to help in the project. They shy away from hard work and are technically inept at the work but because they look and speak so well, they have the ears of top management.

Clearly, you do not want to work for this kind of manager because you will not learn anything except to become a stepping stone to their career goals. To work around this kind of manager, be vigilant and stay clear of their radar. Do your work diligently and make sure you acknowledge their help in your project. And when they start taking credit for the work you did, do not oppose them. Your work will speak for itself. Since the only thing you can learn from them is how to communicate to the executives, learn how they package themselves to top management as this will help you later on how to leverage the hard work you have accomplished for the team and the company. Sooner than later, a top executive will find out inconsistencies in the manager’s work and will need a fresh set of eyes to provide him guidance. By that time, your hard work will be the bedrock of your reputation.

I have heard it said that people do not leave organizations, they leave people. The kind of manager you have will determine how much you will grow in the company. You cannot choose your

manager but you can choose how to deal with them.

Learn as much as you can from them and when there is nothing more to be learned, you can decide logically what you can do about it. n

I have heard it said that people do not leave organizations, they leave people. The kind of manager you have will determine how much you will grow in the company. Learn as much as you can from them and when there is nothing more to be learned, you can decide logically what you can do about it.

MakatiMed inks partnership with Singapore-based hospital group Maintaining its position as one of the top hospitals in the Philippines, Makati Medical Center (MakatiMed, www.makatimed.net.ph) recently signed a partnership with Parkway Hospitals Singapore (PHSPL), one of the leading providers of private health care in Asia, for the continued advancement of medical education and services between the two hospitals.

The Singapore-based institution chose MakatiMed to be its partner in health-care innovation through training programs, fellowships, joint courses and master classes. Doctors, nurses, and hospital administrators will be able to participate in study visits and exchange programs for the enhancement of skillsets and sharing of best practices between

MAKATIMED executives sign the contract with representatives of Parkway Hospitals Singapore. From left: (seated) Johnny B. Sinon, MD, MakatiMed medical director; Maria Corazon C. Consunji, MD, MakatiMed president and CEO; Noel Yeo, MD, Mount Elizabeth Hospital CEO; Vincent Lai, Parkway Hospitals Singapore market development manager; (standing) Florencio Gerardo O. Caedo Jr., MD, MakatiMed director of medical services; and Mary Ann B. Lee, department manager of MakatiMed sales services.

the two world-class hospitals.

Under the partnership, PHSPL and

MakatiMed will also engage in joint patient consultations and live surgery

observations. “This partnership with Parkway Hospitals Singapore is just one of several endeavors in pursuing excellence as a health-care institution,” says Maria Corazon C. Consunji, MD, MakatiMed president and CEO. “This new agreement, which will enable us to co-learn and apply the latest health-care innovations, expands our staff’s medical knowledge to provide the highest level of satisfaction to our patients.”

Present in the contract-signing were Dr. Consunji and Johnny B. Sinon, MD, medical director, Mount Elizabeth Hospital CEO Noel Yeo, MD, and Vincent Lai, PHSPL market development manager, represented the Singapore-based hospital in sealing the partnership.

How much do you pay attention to competitors?

You always have to be aware of what your competition is doing, but too much focus on them and not enough on the customer will open the door, not just for your competitors, but also for new entrants. The key is to keep your eye on the customer and anticipate what they will want.

What do you do for work-life balance?

In addition to spending time with my family, I am an avid runner and have completed two New York City marathons. AP

FIRST-CLASS HYBRID IMAGING TECHNOLOGY IN A RELAXING ENVIRONMENT

CENTURIA Medical Makati, the country’s first and largest medical mall designed to address the needs of the growing medical tourism industry in the Philippines, now houses the Makati PET-CT Center, the first outpatient Positron Emission Tomography (PET) and Computed Tomography (CT) center in the country specializing in whole body cancer imaging.

The center’s top-of-the-line machine combines PET and CT diagnostics, which yields “hybrid imaging” and provides higher accuracy results rather than doing PET or CT alone. Since diseases often begin at a cellular level, requiring PET is important as it shows metabolic changes, which occurs at the cellular level of an organ, tissue or tumor. The CT, on the other hand, shows formative or anatomic changes as the disease alters the structure of organs and tissues.

Not only does the combined diagnostics cut the patient’s many trips to the hospital for various tests but also, and more important, the doctor will be able to administer or advise the proper treatment for the patient upon knowing the result of the combined PET-CT. This gives the patient a better-quality treatment journey and save on costs. And as an outpatient diagnostic center, Makati PET-CT affords a relaxing, non-hospital setting to its patients. Plus, the service of its competent, and dedicated staff puts the patients at ease.

“Having the best of both worlds in diagnostic medicine at the Makati PET-CT Center at Centuria helps our patients relax and lessen the stress that comes when getting tested. Our patients usually come to us for but not limited to cancer staging, assessment of treatment response, and disease monitoring/surveillance. Other than cancer imaging, we also do PET-CT for neurodegenerative disorders such as dementia, as well as inflammatory or infection imaging,” shares Dr. Raymund Augustus O. Conlu, medical director at the Makati PET-CT Center.

Moreover, the PET-CT machine can be a stand-alone CT scan. Thus, the center also caters to patients needing CT scans of different body parts for various illnesses, and those referred for sectional CT scan procedures that are not necessarily cancer-related such as CT of the brain, neck, chest or abdomen.

Open Monday to Friday from 8 am to 5 pm, the Makati PET-CT Center is at the ground floor of Centuria Medical Makati in Century City, Barangay Poblacion, Makati City. For information, e-mail makatipetct.centuria@gmail.com.

Centuria Medical Makati (www.centuriamedical.com.ph) is a 28-story one-stop, outpatient medical-IT facility in the heart of Century City, Makati, Philippines. It houses around 130 major health-care brands, more than 400 doctors, dentists and allied health practitioners, as well as clinics and centers accredited by 20 local and international HMOs. It also houses banking services, retail outlets, restaurants, convenience stores and other concessionaires.

BusinessMirror E1 | Wednesday, April 10, 2019 • Editor : Tet Andolong

WATER desalination plant project

AG&P EYES MAJOR ROLE IN GOVT INFRA-DEVELOPMENT PROGRAM

By Rizal Raoul S. Reyes @brownindio

T

Contributor

HE Atlantic, Gulf & Pacific Co. (AG&P) is interested to play a major role in the government’s ambitious “Build, Build, Build” program.

AYALA Bridge

“We are setting our sights on the country’s energy and transportation sectors. As the Philippines continues to post high gross domestic product [GDP] in the past six to seven years where income is growing and power demands are on the rise, the country needs to build up its energy and infrastructure capabilities,” said Alex Gamboa, of AG&P. senior vice president for business development in a recent interview with the BusinessMirror.

“Although we will be joining the government modernization program, we will remain focus obviously on the power sector,” Gamboa added.

In terms of manpower capability, Gamboa said AG&P has the capability to provide the manpower for the projects. He said the company has been increasing its through upskilling and integration of best-in-class technologies through its electrical and instrumentation team.

Right now, Gamboa said AG&P has 32,000 active workers in its database such as welders who were trained by the company’s in-house unit and Technical Skills and Development Authority (Tesda). He added the workers are on call for possible local and overseas assignments. The workers are rotated in their job assignments and redeployed in the company’s plant in Batangas.

Moreover, Gamboa said AG&P is going to join a P3-billion road project in Northern Luzon with three major companies as partners. In the past, AG&P built some of the country’s iconic landmarks such as the Ayala Bridge and the Araneta Coliseum.

AG&P’s involvement in the government’s signature program brings world-class standards of quality, safety and construction excellence to the Philippines, gained from decades of experience delivering solutions to some of the world’s largest

COMBINE Masinloc power plant project

infrastructure projects.

He said AG&P has been pioneered in modular and on-site construction and the deployment of skilled

Filipino manpower to project sites around the world.

“For decades, we have been at the vanguard of industrial outsourcing,

taking our expertise to complex and remote projects globally, from gas facilities in Kazakhstan, Sakhalin, Angola and Australia, to oil refiner-

ies in the United States and mining sites in the South Pacific,” the company in a press statement.

Meanwhile, AG&P Chairman Jose P. Leviste Jr. pointed out that the Philippines had strong foundations to lead in infrastructure and industrial development because of its advantages such as an educated, English speaking labor force, experienced local construction players and an enviable global reputation as an outsourcing hub. However, he added that the country lagged behind its neighbors in the adoption of technology, automation and skills advancement, which had held back its development.

He added that AG&P’s expertise in capacity building is in sync with the road map’s emphasis on extending the traditional markets of Filipino construction labor abroad and taking advantage of the emerging engineering services outsourcing sector.

In the local scene, AG&P is a major player in energy infrastructure having provided skilled manpower to a range of local projects, including the Masinloc Power Plant in Zambales. The 600- megawatt (MW) Masinloc coal plant will add 300 MW as part of its expansion representing an infrastructure investment of up to $800 million.

AG&P’s skilled laborers, which include welders, painters, cutters, fitters, electrical and instrumentation experts, administrators and project managers—receive worldclass training that gave the company outstanding levels of productivity, quality and safety. AG&P holds a best-in-class weld repair rate of under 2 percent, in addition to the leading construction safety record of 55 million continuous man-hours without incident.

The company’s large, worldclass manufacturing facilities, located in Batangas, are spread across 150-hectares with two self-sufficient yards each housing fabrication, painting and blasting shops, dedicated heavy assembly areas and deep-sea access. They are among the largest fabrication facilities in the region.

Business

E2 Wednesday, April 10, 2019

The real estate, future of #PropTech, real-estate Hackathons and the Poblacion POC

Amor Maclang

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FIRST DIBS IN REAL ESTATE

S the clock struck exactly at five in the afternoon, marking the end of the inaugural PropTech Summit, Futu/RE by the Urban Land Institute, all of the organizers were hugging each other in a congratulatory embrace as the almost unthinkable happened—the staging of the first-ever real-estate and technology forum.

Close to 180 of the top practitioners in the real-estate industry both locally and internationally packed the intimately cozy Maybank Theatre on Thursday, April 4, 2019.

Aside from some of the most seminal talks, the inaugural conference yielded many firsts: a pioneering hackathon between Unionbank and Fintech Philippines Association for the benefit of the Urban Land Institute and the real-estate industry in general; a collective promise to regenerate the impossibly hip Poblacion in Makati; and a promise to ensure the Tech-Ing Up of the real-estate industry are some of the key highlights.

Kudos to all the men and women behind this ingenious event of this scale and magnitude!

Dubbed The Futu/RE Summit, it intended to showcase exciting opportunities and developments as the

real-estate industry is transformed by technology and innovation. The event featured experts and thought leaders at the forefront of this wave of transformation who made the summit beneficial to the participants with their inspiring and meaningful dialogues, close collaboration and responsible leadership.

Needless to emphasize, the realestate industry has been disrupted by the technological innovations, shaping the landscape of the business now and the years to come. With a market that is hungry for innovation, this industry revolution will just go on and on.

Knowing that every step of the real-estate process is now enhanced by technology, from the beginning (which of course, starts with the client’s musings and interest) of search to closing deals, every transaction

THE Future looks very bright for the Philippines in the real-estate sector, so says experts from around the world during the Urban Land Institute’s The Future Summit: Real Estate Technology and Innovation. In the recently concluded summit, experts from different sectors share their knowledge and expertise in the ever-changing landscape of Philippine real estate and the impact of technology, finance and transportation in its evolution. (From left) George Royeca, head of Regulatory and Public Affairs, Angkas; Lars Wittig, Regus Philippines; Amor Maclang, founder of GMCI and ULI chairman, Public Engagement; Jordan Kostelac, JLL Asia Pacific; Kristina Bautista, head, OLX; John Fitzgerald, ULI Asia Pacific; Buds Wenceslao, current chairman of ULI Philippines and CEO of DM Wenceslao and Associates Inc.; and Julian Kwan, InvestaCrowd.

THE officers of ULI Philippines and the Asia-Pacific region

DURING one of the breakout sessions in ULI’s 2019 The Future Summit: Real Estate Technology and Innovation. Amor Maclang (from left), executive director, Fintech Philippines Association; Ida Tiongso, president and Excom member, OPAL Portfolio Investments Inc.; Julian Kwan, founder and CEO of InvestaCrowd; Mark Gorriceta; and Edison Tsai, executive Director of SeedIn Technology (Philippines)

can be done with the click of a button.

A recent study which shows that 91 percent of realtors use social media, while 92 percent of buyers use the Internet, it only makes sense that players should level up digitally.

The industry caters to varying markets coming from all ages and sectors of societies. As industry players strive to provide the best service to everyone, it needs to adapt to these innovative disruptions, which is of course dominated

by the younger generations. While millennials are more eager to learn, older generations tend to resist the process of evolution, the real estate is no different. That is why we had this conference, to tell everyone that we embrace this digital revolution and we are ready for it.

And we brace ourselves for the years to come.

One of the notable takeaways from the event was emphasized by Sylvester Wong of AECOM, a panel-

millennial revolution in face of the technological advancement that has driven the entire industry over the recent years.

This revolution does not go unchallenged.

And one of the important lessons and loud truth that we all learned during the event was traffic, the ever perpetual traffic congestions in the cities proved to be a tough challenge and more often than not an obstacle to the industry’s progress.

This was irrefutably established and highlighted in the Poblacion challenge.

Well, traffic is challenge not only to the real-estate industry but to most sectors of modern societies.

Benilde to construct PWD-friendly innovative learning centers

GREENFIELD HAILS 2018 AS BANNER YEAR

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NE of the most diversified property developers with a proven track record of almost six decades in the Philippines, Greenfield Development Corp. (GDC) is further building real-estate leadership this 2019 backed by the country’s strong economic performance along with rosy outlook in the property sector.

The real-estate landscape with major segments such as residential, office, and leisure is expected to benefit from high demand and supply, as the economy remains the third fastest-growing economy in the Asian region, behind Vietnam and China, according to Colliers International.

“GDC is working to help boost infrastructure investment in the country to support its economic run and contribute to the exponential and sustainable growth of cities with value for the environment,” said Atty. Duane A. X. Santos, executive vice president and general manager of GDC. This year, GDC is breaking more new records that strengthen its portfolio in sustainable and innovative property development. Major projects were turned over and new concepts launched across its two premier townships: Greenfield District in Mandaluyong City which is strategically located in the middle of the

ist at ULI Philippines Technical Assistance Panel on “Poblacion,” a pitch competition with a grand prize of up to P100,000 for community innovation initiatives, technologies, and projects that address the key challenges of Poblacion, Makati, which represented common but rapidly urbanizing cities in the Philippines.

Quoting Wong, he said “Cities need incubators of great culture— the successful ones are in great locations like Poblacion. Don’t shed everything that makes a city grow. Keep those elements that have a low cost a failure and can really soar high.”

He succinctly points out what must be done by all other cities in the country to fuel the fire in this

“Golden Triangle” of Makati, Manila and Quezon City; and the Greenfield City at Santa Rosa, Laguna, which is widely considered the “Makati of the South.”

The resilient residential and office property uptake show promising prospects for the new Twin Oaks Place and Zitan residential projects, and the Greenfield Tower business-process outsourcing office building which were recently turned over at the 15-hectare Greenfield District. The newest additions to the master-planned township are set to increase activity, employment, and drive further growth in the area which is already a hotbed of innovative infrastructure.

At Santa Rosa, Laguna, GDC recently launched new residential landmarks

that are now being shaped as integral components of the “city within a park” proposition that is the trademark of 400-hectare Greenfield City. These pioneering green developments called Trava and Zadia are testaments to the developer’s continuing confidence in Santa Rosa’s potential as a rising business, commercial and residential hub.

GDC’s newly formed high-end brand Greenfield Deluxe is developing the 31-hectare, ultra-upscale horizontal development called Trava. Spacious parks and landscaped greeneries are primary features of the project, together with its two-story green houses. Zadia, on the other hand, is a 35,000-square-meter midrise vertical development comprised of five buildings that rise only up

to 10 floors each. Exclusive countryside living at a low density condominium setting will encapsulate the “greenspiration” concept at Zadia.

Breaking new records in project development this 2018 is only the beginning of more progressive and fruitful years for GDC, as the developer poises to allot P10 billion for new developments in 2019.

“Our infrastructure investments are testaments to Greenfield’s optimism for the Philippine property sector.

Real estate in the country has great potential, and we’re working to explore and develop this potential with a future-proof development vision, innovation, and respect for the environment,” noted Santos.

OCUSED on providing solutions to clinch breakthrough goals of inclusion and innovation, De La Salle-College of Saint Benilde (DLS-CSB) has fast-tracked the completion of one of its major infrastructure developments, the Academic Building 4 (AB4).

The 10-story edifice will be the hub for the School of Hotel, Restaurant, Institution Management (SHRIM), which will be equipped with Master Chef-style kitchen laboratories, and will feature the first school-based Oenology Center, which focuses on the study of wines.

To be housed at the AB4 include departments such as School of Professional and Continuing Education (SPaCE), and support offices such as the Office of the Vice Chancellor for Administration, Office of the Vice President for Lasallian Mission and Student Life, satellite server of the Information Technology Department, satellite office of Finance, Registrar, General Administration and Services Departments.

The center will, likewise, host its own Learning Resource Center, initiative learning studios, and a publicly accessible chapel, plus the Sol-

omon Restaurant, one of SHRIM’s student-run bistros, and a cafeteria.

The AB4 will address the needs of academic spaces and facilities while allowing the flexibility of use and function for activities beyond regular classes.

“With this fourth campus, we will be able to decongest our classrooms in the different campuses,” said Br. Dennis Magbanua FSC, president of DLS-CSB. “We are going to have some high-end culinary arts laboratories and specialized experimentalexperiential classrooms, where can be visited to see what it means to be teaching in the future.”

Designed by Architect Dan Lichauco of Archion Architects, the building situated between the corners of Arellano and Ayala Streets, Manila, will incorporate structure and elements consistent for a tropical country, with natural ventilation and proper solar orientation for specific areas.

“For inclusion, we are making sure that all of our facilities are PWD-ready and Deaf and blindfriendly,” Benhur Ong, vice president for Administration stated.

AB4 is set to open its doors by December 2019.

sMirror

Wednesday, April 10, 2019 E3

CENTURY COMPLETES 24 BUILDINGS, TOPS OFF 31 IN THE FIRST QUARTER OF 2019

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ISTED real-estate developer Century Properties Group Inc. caps off the first quarter of 2019 with a total of 24 buildings completed since the company’s first public listing in 2012. CPG has topped off 31 buildings overall, marking the home stretch in its target to complete 32 buildings by 2020.

Completed projects include the six towers in Century’s flagship Makati mixed-use development, Century City: the Gramercy Residences, Knightsbridge Residences, Milano Residences, Trump Tower Philippines, Century City Mall and Centuria Medical Makati.

At Azure Urban Resort Residences in Parañaque City, eight buildings have been completed, while five of six towers, as well as the Pebble amenity structure have been delivered at Acqua Private Residences in Mandaluyong City. The sixth Acqua tower, Novotel Suites Manila, will be completed in the third quarter of 2019.

The Residences at Commonwealth by Century, CPG’s eight-tower residential complex in Quezon City, has turned over four towers and are targeting the completion of two more by the end of the year. All eight towers within the 4.4-hectare community have been topped off.

Adding to its stellar list of signature properties is the Asian Century Center in Bonifacio Global City. Developed in partnership with Asian Carmakers Corp., the 21-story LEED

pre-certified and Peza-accredited office building officially opened its doors last December.

Known for its innovative and industry-pushing developments backed by 33 years of experience, Century Properties has been on the cutting edge of real estate in the Philippines—working with some of the world’s biggest names in architecture and design, such as Pei Partnership Architects with I.M. Pei, Philippe Starck and John Hitchcox, Studio Daniel Libeskind, Versace Home, Armani/ Casa, MissoniHome, Paris Hilton and the Trump Organization to name a few.

Five more towers are already in the lineup for completion in 2019— Novotel Suites Manila at Acqua Private Residences in Mandaluyong; the 35-story Peza-accredited and LEED pre-certified office building Century Diamond Tower, a jointventure project of CPG with Mitsubishi Corp.; and the luxurious office-residential tower Century Spire with amenities interior designed by Armani Casa and architecture by Dabiel Libeskind is scheduled to top

off In April 2019. Rounding off the list are two towers at the Residences at Commonwealth.

This affirms Century Properties’ commitment to accomplish its 2020 target—offering a diverse mix of residential projects for the luxury, middle income and affordable markets; retail projects; office developments; and medical-office

space—covering approximately 1.5 million square meterS. “Employing the same brand of innovation and quality for the past 33 years, Century Properties Group will continue to create lifeenhancing properties that reshape the Philippine skyline and we look forward to more exciting projects beyond 2020,” said Century Proper-

ties’ COO Marco R. Antonio.

With the diversification of its portfolio, CPG continues to deliver impeccably designed, highquality projects that are responsive to the needs of the market.

In 2017, CPG made its mark in the first homebuyer segment with its new affordable housing brand PHirst Park Homes in a joint ven-

ture with Mitsubishi Corp., with 33,000 homes to be launched in the next four years in north and south Luzon. The company also announced the expansion of its urban leasing portfolio, from its current completed gross floor area of about 133,000 sq m to 300,000 sq m by 2020 once its leasing projects are completed.

HOME

James Hardie celebrates strong collaborations Signify reports rush to trial Li-Fi

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IGNIFY (Euronext: LIGHT), the world leader in lighting, today announced it is working with more than 30 customers in Europe, North America and Asia to pilot its commercial Li-Fi system. Its Li-Fienabled LED luminaires combine excellent quality energy-efficient light with secure, stable, high-speed wireless communication using light waves.

Implementation of Li-Fi technology from Bangalore to Stavanger

JAMES Hardie Philippines’s General Manager Bernard Salud

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S a testament to the value of collaboration between property developers and contractors, and to highlight its importance in furthering the local construction industry amid the boom in foreign investments, James Hardie Philippines held recently its first ever Partners Night at ShangriLa at the Fort, BGC. “This gathering aims to recognize key partners, as well as share distribution and technological developments in the business, helping partners address the country’s growing building construction needs,” said James Hardie Philippines General Manager, Bernard Salud.

Developers and contractors were awarded for exhibiting outstanding collaboration with James Hardie from the previous year.

Volume Contributor award winners Vista Land and Makati Development Corp.—awardees for the

Developer and Contractor category, respectively—provided the notable volume contribution to the James Hardie Business.

Vista Land was also a recipient of the Highest Growth award from the Developers category and was joined

by Makati Cover-All and Interiors representing the Contractors category, both companies achieved the highest business growth in 2018.

James Hardie Philippines also recognized a new partner for the Rookie of the Year award, ProFriends Inc. which exhibited outstanding growth performance in a short span of time.

“This evening’s event is evidence of how collaboration truly pays off,” said Pio Gutierrez, sales director for James Hardie. “When it comes to enriching the local construction industry, James Hardie firmly believes partnering with developers and contractors is primary. This

paves the way for us to update our knowledge on industry developments and new product technology, as well as empower them to progress further.”

Meanwhile, Darren Southwell, product and system development manager for James Hardie Asia Pacific shared to attendees their current market innovations and trends when it comes to fiber cement board technology.

James Hardie also reported its expanding global reach as it entered the European market recently through acquisition of Fermacell, a fiber gypsum products manufacturer. This paved the way for wider distribution of products from both entities, giving consumers easy access to high-grade construction materials. Meanwhile their use of Ritek technology in Australia continues to develop in the market, paving the way for faster and more efficient builds.

CUSTOMERS trialing the groundbreaking technology are located all over the world. In Bangalore, India, managed offices provider Incubex has established a Li-Fi meeting room to enable the many start-ups and firms it serves to explore the technology.

“Since our inception, we’ve been actively experimenting with and promoting new technologies. We’re giving our 450 plus members at our

Manya Tech Park hub, and more than 3,500 members at our 10 other hubs, the opportunity to be the first to get hands-on with this new technology which is set to go places. So far, we’ve had great feedback and received lots of enquiries from our members,” said Alap Uttamchandani, founder of Incubex. Atea, the leading IT infrastructure company in the Nordics and Baltic region, is piloting Li-Fi in its office in Stavanger, Norway. The company has installed Li-Fi luminaires in the lobby of its building so it can demonstrate the technology and have visitors try out the new wireless communication technology.

Telecoms company Orange is another customer, piloting the technology at its office near Paris, France, where Li-Fi is being tested.

In Singapore, Republic Polytechnic will install Li-Fi in its Smart Devices Lab. It intends to give its students new learning opportunities and broaden their exposure to

smart lighting technologies. The polytechnic is the first institute of higher learning in Southeast Asia to adopt Li-Fi.

Broadband Internet through your lights

“OUR initial pilots illustrate the massive potential of this technology,” said Michel Germe, head of Li-Fi at Signify. “We’ve received hundreds of enquiries from potential customers from all corners of the world, some of which have led to applications inspired by them and jointly created with them, such as communication between robots in manufacturing facilities. As well as the 30 plus pilot projects, we’ve installed Li-Fi in 26 of our buildings across the world.”

The pilot projects underscore Signify’s commitment to developing innovations to benefit its customers and its leadership in unlocking the value of light as a new intelligent language.

Toshiba home appliance line launched

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EADING Japanese appliance company Toshiba recently launched their latest line of advanced home appliances that address the varying lifestyle needs of discerning Filipino consumers.

Designed and engineered with the “takumi spirit”—a craftsman’s relentless pursuit of perfection, each Toshiba product, from washers and dryers, refrigerators, vacuum cleaners and water dispensers, is manufactured with an uncompromising attention to detail. Gracing the launch were Charles Zhang, deputy general manager of Concepcion Midea Inc.; Zeal Jiang, general manager of Overseas Market—Refrigerator Division, Midea Group; Rooney Xiao, general manager of Overseas Market—Laundry Division, Midea Group; and Phillip Trapaga, general manager, Concepcion Midea Inc.

CHARLES ZHANG (second from left), deputy general manager of Concepcion Midea Inc.; Zeal Jiang, general manager of Overseas Market—Refrigerator Division, Midea Group; Rooney Xiao, general manager of Overseas Market—Laundry Division, Midea Group; and Phillip Trapaga, general manager, Concepcion Midea Inc.

Entrepreneur BusinessMirror

E4 Wednesday, April 10, 2019

Barista champ-cum-entrep begins quest to retake PHL’s coffee spot

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By Rizal Raoul S. Reyes

@brownindio

Contributor

LMOST seven decades ago, the Philippines was the thirdlargest coffee producer globally after Brazil and Colombia.

By 2017, however, the country’s ranking plunged to the 27th place for various reasons, primarily due to the decline domestic coffee production, while other nations, such as Vietnam, had surpassed the Philippines.

Nevertheless, there are passionate Filipinos who still believe Philippine coffee can be on a par with the other leading brands in the world.

Michael Harris Conlin, president and chief executive officer of Henry & Sons, is one of the Filipinos who fervently believe that local coffee’s spot in the world can be regained. In fact, Conlin has dedicated his life’s work in developing a sustainable coffee industry in the Philippines.

Moreover, Conlin has devoted himself to advocating the welfare of coffee-producing communities in the country, specifically in Benguet province, so that upland residents may enjoy a stable and thriving industry for generations to come.

Just recently, he awarded a moisture meter to an Itogon cooperative to improve further their production.

“Our road map is to create a fully sustainable coffee economy in the country,” he told the media in a recent briefing held in Mandaluyong City.

Although coffee production is a difficult business, Conlin remains unfazed of the challenges in the

coffee business, citing that the driving force is the passion for coffee.

Promoting Philippine coffee

AFTER winning the most recent Philippine National Barista Championship with his Espresso, Milk and Signature courses—each one representing a specific coffee-drinker archetype—Conlin will compete this month in the global arena as the Philippines’s official representative in the World Barista Championship in Boston.

Conlin is motivated to use this competition as a platform to spread awareness about Philippine coffee farming and production, while also aiming to shift consumer preference to local coffee.

“This year, as champion of the local leg, we will represent the country in the World Barista Championship in Boston where we will bring the same zeal and expertise. We aim to show that the Philippines is more than capable of creating specialty coffee that can compete in the world stage,” he said.

The competition will also serve as a platform to: n To bring the spotlight on Philippine coffee-farming communities that rely on sustainability; n To have Filipino consumers

begin appreciating local coffee; n To foster a healthy relationship between roasters and farmers wherein knowledge and best practices are shared for improved cup quality; and n To nurture barista communities that understand and respect the crops and farming industry in order to mindfully serve customers.

Furthermore, Henry & Sons crafted several programs as part of their contribution to uplift the coffee industry and its stakeholders in the country.

Coffee for Great Minds provides scholarships to deserving schoolchildren of farmers, hoping that they can follow the footsteps of their parents to develop a stronger food security in the country. It has also created a Barista Camp to develop the next generation of baristas.

“The goal here is to make Filipinos become champions for Filipino coffee, to advocate sustainability for local farming communities, to begin a synergistic relationship between roasters and farmers so that cup quality can increase via shared best practices and knowledge, and, of course, to nurture a barista culture that fully understands the farming industry so they can mindfully serve consumers.” Conlin explained.

Conlin also developed multiple platforms to enable coffee farmers to thrive, such as the Foundation for Sustainable Coffee Excellence (FSCE), which is Henry & Sons’s advocacy arm, the Institute for Coffee Excellence (ICE), which is their capability-building arm, the The Giving Coffee (TGC) efforts—one of which is Henry & Sons’s own brickand-mortar structure, and the Kape, Kabuhayan, Kinabukasan project

MICHAEL HARRIS CONLIN, president and chief executive officer of Henry & Sons, receives his trophy as champion of the 2019 Philippine National Barista Championship.

(also called the KKK), which offers specific brews that directly benefit a cause such as clean water, health missions, scholarships and the like in provinces that rely on coffee farming.

The KKK program aims to “create and strengthen a sustainable coffee culture for both consumers and producers so that future generations.”

Henry & Sons also created the FSCE, a nonprofit organization that seeks to help bring back the Philippines into the global spotlight through sustainable coffee farming and by helping the local coffee growers. Other programs under Henry & Sons include the Beans for the Little Ones, Beans, Cup to Seed, Coffee for Great Minds and The Giving Well.

TGC is a social enterprise platform founded by Henry & Sons

to support the FSCE on its aim to create a more sustainable local coffeefarming landscape.

“This is why, at Henry &Sons, we strengthen our synergistic partnerships with FSCE and its capabilitybuilding arm, Institute for Coffee Excellence, which enables farmers and roasters to work together on knowledge transfer on best farming practices to improve cup quality,” Conlin said.

For Henry & Sons, the game plan is to work with all the stakeholders such as the farmers and consumers.

Both sides are going to be happy as consumers will enjoy quality and good coffee, while farmers can earn more. “That’s the only way to make the coffee industry sustainable,” he stressed.

www.businessmirror.com.ph

ML Express quick money remittance service expands franchise to 300

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S one of the top financial service providers in the country, M Lhuillier continues to provide products that aim to empower the lives of the Filipino family.

At this year’s Franchise Asia Expo, M Lhuillier showcased ML Express, or M Lhuillier Express, a partnership solution that allows aspiring (and current) business owners to start or expand their own business by franchising this service. Entrepreneurship continues to be a growing venture that uplifts more and more Filipinos, and franchising is one of the most accessible ways that Filipinos can develop their business acumen.

Established in 2016, ML Express is the quick-service money remittance arm of M Lhuillier. Since its establishment, ML Express has expanded to over 300 branches nationwide, with a steady increase of franchisees availing themselves of the program. More so, ML Express has also added an e-load service. Furthermore, ML Express continues to remain agile for its partners and customers. “ML Express continues to be abreast with the needs and demands of our franchisees. We have also increased the commission for our international partners,” according to Mr. Ceasar Laro, division manager of ML Express.

With an initial investment of P99,000, ML Express is a fast and convenient way to add value to one’s business. Each investment includes an initial pre-fund of P25,000 worth of credits for ML Wallet, a tablet, an ML Kwarta Padala Express System, a Wi-fi printer and a set of marketing collaterals for promotions.

On top of the investment package, franchisees also receive high-quality, instantaneous, and consistent training and support to further improve their business. For the first year of operations, franchisees can expect estimated monthly earnings of at least P35,000 a month.

Franchisee applicants must present the following requirements: corporate or business profile, corporate officers or sole proprietorship personal profile, Securities and Exchange Commission registration or Department of Trade and Industry registration, business permit, Bureau of Internal Revenue registration, and Bangko Sentral ng Pilipinas or AntiMoney Laundering Council certification.

Millennials find thriving future in multiple c-store franchising Singapore’s biggest online mall

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Young and unstoppable

RANCHISING offers many wonderful perks and opportunities for all, especially aspiring young investors seeking financial independence and flexible incomes as business owners. While being a “franchisee” entails mature readiness, experience and business acumen—essential qualities that many millennials are said to have yet to acquire and develop—their determination and youthful zeal, plus finding the right franchise concept, however, sets them up for the business and, eventually, lead them toward entrepreneurial success.

Starting smart

AS one of the twenty-something generation of entrepreneurs, Chalsea Trish T. Carating, a bachelor of science in international hospitality management graduate of Enderun Colleges, proudly shares how she made the bold jump into franchising.

“My mother wanted me to start my own business as soon as I graduated, so she decided that I start with franchising a convenience store. We actually tried another c-store chain first, but my application was rejected because I was too young, and they cannot guarantee my financial capacity even though my parents will back me up. On the other hand, 7-Eleven encourages young entrepreneurs to look over their franchising package, that is why we decided to invest in a 7-Eleven store,” she shares.

After accomplishing the one-month classroom and in-store training and the steady system support by the franchise advisors of Philippine Seven Corp. (PSC), the exclusive local licensor of 7-Eleven, Carating successfully opened her first 7-Eleven franchise in Bayanan, Muntinlupa, in October 2016. “Through the help of my franchise specialist, we chose the best location out of all the options that she presented. We mainly focused on looking for a high foot-traffic area. At first, it was not really hectic, but the succeeding days were fine because new customers keep coming in, and sales are going up. I felt really happy and proud because it’s finally happening right in front of my eyes,” she recalls.

“I have been operating my Bayanan store for two years already, and I recently opened a new one in Sucat, Muntinlupa,” Carating adds.

While managing a business is no walk in the

MILLENIAL entrep Chalsea Trish T. Carating poses for snapshot in one of her two c-stores in Muntinlupa City.

park, Carating says running a c-store has many advantages. “The best thing about having my own business is I can be my own boss. I can do whatever I want and I keep learning new things.

As of now, my focus is on my Sucat and Bayanan branches, but if given a chance in the future, I would like to franchise more stores in order to expand my business and challenge myself to become a better entrepreneur,” she muses.

On why aspiring entrepreneurs looking to start a business should try franchising a c-store, Carating says it’s because “franchising a business is a better idea rather than starting your own because consumers are brand conscious; they go to or patronize the brand that they already know. What makes 7-Eleven package worthy is because they have already established a brand name, it wouldn’t be hard to attract customers into buying the products, and also, the management support system, which makes everything easier to handle.”

Looking forward to her continued success with 7-Eleven, Carating says she plans to add another outlet when the time is right.

ANOTHER young entrepreneur, 24-year-old Jimmy Y. Taguinod, proved it’s never too early to start in business. In fact, he has been successfully managing a number of food and beverage kiosks and a Snackbar Cinema prior to running a 7-Eleven c-store.

“Me and my partners had a vision to have our own company mainly focusing in franchising business. 7-Eleven is the strongest conveniencestore brand, not just here in the Philippines but all over the world,” comments Taguinod.

Together with his associates, they opened their first 7-Eleven store in January 2018 in Delpan. “The people love the store; it is their new one-stop shop. They always shop in our store everyday. I was quite pressured because everything was new for me but I was able to adjust,” he shares.

To date, Taguinod is operating a total of four c-stores: Kamuning, Blumentritt, Delpan and Tondo Hospital.

Besides having an alternative income, Taguinod finds extra fulfillment in managing a c-store “because I can provide jobs while earning at the same time. Thus, I’m grateful for the opportunity. ” “I also feel blessed being a franchisee of 7-Eleven. PSC provides me system support, good locations and products that are salable.

Most important, franchisees are valued. For those interested in trying out this business, go for it. It might be risky, but 7-Eleven can minimize those risks,” he concludes.

According to PSC Business Development Division Head Ulysses Borral, the multiple store franchise arrangement is gaining popularity among young adults, as more aspire to start young as business managers. PSC attributes this to the proven system support, which provides those venturing into the franchise, most especially newbies, with full franchisor’s guidance throughout the process.

“We are seeing more young multiple store owners, or franchisees who own and operate more than one outlet. Franchising in general is an attractive and lucrative option for millennials who want more financial growth and freedom outside job employment. In fact, from the 20-26 year age brackets, there are already 43 7-Eleven franchisees,” says Borral.

fights Alibaba with blockchain

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N the last decade, Ku Young Bae—a serial entrepreneur and South Korean transplant—has built Singapore’s biggest ecommerce company and fended off giant rivals like Alibaba, Amazon and Tencent.

Now he’s keen to expand beyond his home base into Southeast Asia. To do that, and to compete with his cash-rich rivals, he’s hatched an audacious plan to unleash the efficiencies of blockchain technology on e-commerce. In January, his Qoo10 (pronounced “Q-ten”) online mall started a separate marketplace called QuuBe using the distributed ledger technology best known for making Bitcoin possible.

Ku says blockchain makes it cheaper to run an online marketplace which lets him remove the fees he currently charges merchants to sell products on the site. That, he says, should attract even more sellers. Ku is also creating a payment system based on the technology that will help attract new shoppers in a region where cash still predominates. So far, the response has been positive: Three months in, he says, more than 5,000 merchants have registered 2.3 million or so products on QuuBe. Ku isn’t the first to try applying blockchain to e-commerce. But no company has gone all-in like Qoo10, which can’t match the billions of dollars Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are pouring into the region. “This is my attempt to shift the paradigm and level the playing field,” he says. “There hasn’t been any radical innovation in the e-commerce industry—with services largely resembling one another.”

Ku is virtually unknown outside Asia. He keeps a low profile and has no social media presence. People who know Ku well describe him as a workaholic who rarely socializes.

He has built Qoo10 in his image: a low-key yet hard-charging upstart that retains a bootstrapping ethos despite being a nineyear-old company with 600 employees. The boss’s Korean nickname is Ku daeri (“junior manager Ku”) because few details are too small for his attention.

“People don’t know him because he keeps a low profile but he’s probably the most underrated entrepreneur,” says Julian Tan, chief of digital business at Singapore Press Holdings, which backed Qoo10 in 2015. Tan

says the fact that Qoo10 has managed to remain No. 1 in Singapore despite Amazon. com Inc.’s entry with Prime Now in 2017 and heavy investments from Alibaba’s Lazada and Tencent-backed Sea Ltd.’s Shopee “is a testament to his product and understanding of the market.”

Ku has long been an e-commerce pioneer.

Back in 2000, when he was 34, Ku started a South Korean web store called Gmarket.

Three years later, consumers and merchants were invited to transact directly on the site— a concept that eventually came to be known as a business-to-consumer marketplace. At the time, nine-year-old Amazon had a thirdparty marketplace called ZShop that let sellers hawk used merchandise; Alibaba was a business-to-business outfit just starting Taobao, an EBay-like site where consumers barter. Today Amazon, Alibaba and Walmart Inc. all have third-party marketplaces.

Early on, Ku bet people would be willing to buy clothing online without trying it on first and began selling stylish fast-fashion garments. The non-branded clothes sold so well Gmarket was soon South Korea’s No. 1 online shopping site, beating bigger rivals like Ebay Inc.’s Internet Auction Co. In 2006 Ku’s startup became the first Korean e-commerce company to list on Nasdaq. Ku was busily building Gmarket into a pan-Asian ecommerce operator when his biggest shareholder, Interpark Corp., decided to accept an offer from EBay, which acquired Gmarket for $1.2 billion in 2009. Ku struck a deal with the US e-commerce company to form a joint venture and started Qoo10 in Singapore in 2010.

Qoo10 caught on quickly, enticing consumers with products previously difficult to get online—Korean cosmetics, Australian bath towels, Indonesian batik dresses. The company offered fresh salmon cuts and chili crab long before delivery apps came along.

They could also be picked up at the seller’s shop. Wrapping the enterprise together was an efficient cross-border logistics network and a local delivery service that could get a package to a customer’s door in as little as three hours. Qoo10’s share of Singapore’s online shopping market more than quadrupled to 38.2 percent from 2013 to 2018, according to Euromonitor. Bloomberg News