BusinessMirror April 16, 2019 by BusinessMirror

TIGER!!!!!

FEB REMITTANCES RISE 1.5% TO $2.3B

A FALLEN HERO, A CRIPPLED STAR, TIGER WOODS IS A MASTERS CHAMPION AGAIN. ■ Story on Section C

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

HE steady stream of remittances is seen to provide the necessary support to the country’s growth through sustained fuel to local household consumption. The Bangko Sentral ng Pilipinas (BSP) on Monday reported that around $2.3 billion worth of cash remittances entered the local economy in February. This level of cash remittances is 1.5 percent higher than the cash remittances sent by Filipino migrant workers in the same month last year. The 1.5-percent growth rate is the slowest monthly expansion of cash remittances to the country in six months, or since August last year when it posted a 0.9-percent contraction. For the first two months of 2019, cash remittances amounted to $4.78 billion, a 3-percent rise from the $4.65- billion level in the same January-to-February period last year. According to the BSP, this growth was supported by the increase in remittances from both land-based and seabased workers. In particular, cash remittances from landbased workers hit $3.73 billion in the first two months of the year, rising by 1 percent from the same period last year. Meanwhile, remittances from sea-based workers hit $1.06

billion, rising by 10.5 percent from the same period last year. By country source, the United States registered the highest share of overall remittances for the period at 35.5 percent. It was followed by Saudi Arabia, Singapore, the United Kingdom, the United Arab Emirates, Japan, Canada, Qatar, Hong Kong and Germany. The combined remittances from these countries accounted for 77.3 percent of total cash remittances for January to February 2019. ING Bank Manila economist Nicholas Mapa said that at this rate, remittances continue to flow into the country “at a healthy pace.” “Last year saw overseas Filipino remittances hit $28.94 billion, assuring a fresh inflow of more or less $2.4 billion every month, like clockwork.” The steady stream of Dollars help fund Peso purchasing power, almost assuring that household consumption continues, while also augmenting the sustained struggles of the export sector,” Mapa said in his assessment following the BSP’s announcement of remittance numbers.

Bianca Cuaresma

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n Tuesday, April 16, 2019 Vol. 14 No. 188

Duterte signs budget, but vetoes ₧95-B items P By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte has finally signed the long-delayed 2019 budget but vetoed P95.3 billion for “not being part of the President’s priority projects,” Executive Secretary Salvador Medialdea confirmed on Monday night.

“The President, among others, vetoed P95.3-billion items of appropriations in the details of DPWH [Department of Public Works and Highways] Programs/ Projects, which are not within the programmed priorities,” Medialdea

said in a text message shared to reporters. Asked if the President finds the P95.3 billion unconstitutional, Medialdea replied: “No. Not part of priority projects.” The President signing the 2019 budget means that the govern-

ment can soon stop operating under the 2018 reenacted budget, amid warnings by economists that such could impact growth prospects this year. T he 2019 bud get w a s de layed due to a number of issues,

@ReaCuBM

HE Bureau of Internal Revenue (BIR) is looking to collect higher tax payments during the income tax return (ITR) filing period this year, compared to the P140 billion it drew in April 2018, on the back of simplified forms and processes under the Tax Reform for Acceleration and Inclusion (TRAIN) law. An increase of online tax filings by 30 to 40 percent is also projected. In a news conference on Monday in Quezon City, BIR Spokesman Marissa O. Cabreros told reporters, “The past collection, we registered P140 billion. This can decrease be-

cause of the lowering of the personal income tax [PIT] rates under the TRAIN. However, we are hopeful that the collection will increase since more will comply in line with the simplified filing process.” BIR Deputy Commissioner Arnel S.D. Guballa said the bureau also expects an increase of about 30 to 40 percent for taxpayers who file online during this ITR filing season. “In terms of the totality of the whole taxpayers for the BIR, maybe more than 30 percent or 40 percent [will file] online. Let’s say last year we had 50,000 [online tax filers] then now it increases to about 80,000 or around that range,” Guballa said. See “BIR,” A2

PESO EXCHANGE RATES n US 51.9290

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 4 sections 24 pages | 7 DAYS A WEEK

‘There’s a whole world out there that needs you’ Manny F. Dooc

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including the alleged changes by the House leadership even after both chambers had ratified the bicameral conference committee report, the alleged P75-billion insertion to the budget of the DPW H and the controversial shift of the government from obligation-based to cash-based budgeting system. Prior to the signing, the President earlier threatened to veto the entire P3.7-trillion budget if proven to be illegal, prompting lawmakers and even Vice President Leni Robredo to urge the President to do line-item veto instead. To end the budget impasse between the Senate and House, the President acted as mediator but to no avail.

HE economic, social and cultural ties that bind the Philippines and its Chinese community remain robust and vibrant. And thanks to the umbrella organization of the Filipino-Chinese businessmen in our country, the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. whose efforts to promote strong cooperation between the two groups have been consistent and unrelenting. Since its establishment in 1954, the Federation has been an active and reliable partner of the government in promoting business development and commercial activities in the cities and the countryside. It has introduced and implemented various economic, educational and social development programs that have hugely benefited our people.

Continued on A2

Continued on A11

Car sales up 14% in March

Simpler forms, process under TRAIN buoy BIR bid to breach ’18 figures By Rea Cu

2017 EJAP JOURNALISM AWARDS

By Elijah Felice E. Rosales

PEOPLE flock to the Bureau of Internal Revenue office in Makati City to pay their taxes on Monday, the last day for filing. Taxpayers were allowed to file manually up to 5 p.m., or online up to 10 p.m. of April 15, 2019. NONIE REYES

@alyasjah

HE local automotive industry may be on its way to recovery after a lackluster performance last year, as car sales in March grew 14 percent year-onyear on strong demand for commercial vehicles. In a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association, car sales in March rose 14.02 percent to 32,173 units, from 28,216 units during the same month last year. The commercial vehicle (CV) segment made up for the slack in passenger car sales,

n JAPAN 0.4638 n UK 67.9387 n HK 6.6213 n CHINA 7.7451 n SINGAPORE 38.4005 n AUSTRALIA 37.2591 n EU 58.7161 n SAUDI ARABIA 13.8485

See “Car,” A2

Source: BSP (15 April 2019 )

News

BusinessMirror

A2 Tuesday, April 16, 2019

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DA: Tourists smuggling pork to pay ₧200k

By Jasper Emmanuel Y. Arcalas

@jearcalas

OURISTS caught smuggling meat products into the Philippines will be fined at least P200,000 to discourage them from bringing food items that may carry the dreaded African swine fever (ASF), the Department of Agriculture (DA) said. Agriculture Secretary Emmanuel F. Piñol made the pronouncement recently after the DA found the legal basis imposing the fine.

Piñol also said he no longer needs to issue a memorandum order for the penalties as this provision is already in existing Philippine laws.

But, he said, he may issue an advisory to remind Filipinos about these penalties. Bureau of Animal Industry-ASF Task Force Head May Magno told the BusinessMirror in a separate interview that Republic Act 9296, as amended by RA 10536, or the Meat Inspection Code of the Philippines, outlined the penalties for bringing in meat into the country without proper clearance. Under RA 10536, confiscation of “hot meat” would have a corresponding fine of P200,000 for first offense, P350,000 for second offense and a fine of P500,000 for the third and succeeding offenses.

DOE, gencos: Collusion didn’t cause brownouts By Lenie Lectura

@llectura

HE Department of Energy (DOE) and the power-generation firms on Monday firmly denied that lack of planning and collusion were to blame for last week’s rotational brownouts that hit Luzon. This, as the Luzon grid was placed on red alert on Monday, the fourth time this month. The alert notice was eventually lifted at 3:10 p.m. The main culprit, according to DOE Undersecretary Felix William Fuentebella, is the forced outage of old and relatively new power plants. He said several power plants, with a total capacity of 1,500 megawatts, bogged down due to various technical glitches. The DOE cited two more reasons: the capacity of some power plants got derated by around 111 MW, and the scheduled maintenance shutdown of power plants shaved off 872 MW of capacity from the Luzon grid. “This is a very high number. It was caused by forced outages. The impact of 2,500 MW is enough to power the entire Mindanao grid. That is how big it is. The problem is forced outages occurred. Unplanned is unplanned, forced is forced unless plant managers tell us a formula on how we can see ahead. Pumalya ang mga planta [The plants simply fa i led],” sa id Fuentebella at Monday’s news conference. Asked if there was lack of planning on DOE’s part, Fuentebella said, “No. We should focus on the problem, and the problem is on forced outage. It’s not supply. Dugtong dugtong ang problema. But no, walang pagkukulang sa planning. Magkakaproblema lang iyan sa focus. Kahit may planning ka, kung wala ka namang focus [The problems are interconnected. But no, there was no failure in planning. A problem will only arise in terms of focus. Even if you have planning, you’ll have a

problem if you lack focus],” the DOE official said.

Gencos: No collusion

Meantime, representatives of power-generation firms present disputed suspicion of collusion, pointing out that they don’t profit at all if their plants are not delivering power. AboitizPower Chief Operating Officer Emmanuel Rubio said the capacity lost is being replaced by buying from the Wholesale Electricity Spot Market (WESM). However, they do not pass on to consumers the higher spot market prices. “Only when a plant is running [do] we make revenues, because that’s the only time we can sell power to consumers. We’re losing money because 200 MW is out. We are contracted beyond the capacity we operate. We rely on some our facilities, we rely on WESM. The WESM price hit P9, but we sell P3 to our customers,” Rubio said. Pagbilao 3, which was put up by Aboitiz and Team Energy Corp. , is a new plant that began commercial operation in March 2018. It was scheduled to resume operation today (April 16) after conking out. Team Energy, which operates the 20-year-old Sual power plant, also said that the plant’s output is fully contracted. “It is not in our best interest if the plant is on shutdown. Revenue is lost and at times we source replacement energy from WESM,” said company representative Froilan Gregory Romualdez. The DOE and the power generators assured the public that no costs are passed on to consumers. “We have policies in place that protect consumers. We have a policy on ancillary service that is being drafted, a price-determination methodology that can be included in the planned causer’s pay policy,” said Fuentebella. The DOE submitted data to the Energy Regulatory Commission (ERC), which is in a better position to determine if there was collusion involved or if the reasons

for the forced plant outage match that of the ERC’s findings. “What we can only say is this. Lahat ng impormasyon na makukuha natin, ibibigay natin sa ERC, PCC, Congress lalong lalo na kay Pangulo [All the information we get, we pass on to the Energy Regulatory Commission, the Philippine Competition Commission, Congress and especially the President]. At the end of the day, we will remain answerable to all these, and we will try to leave you with as many updates, as transparent and as timely as we can,” he said.

Meralco: Fresh spike likely

The Manila Electric Co. (Meralco), meanwhile, said power rates are likely to spike again this month. The utility firm purchased roughly 10 percent of its power requirements from WESM last month. “So far, it’s too early to say how much. We usually receive the spot market prices billing by the end of the month. In the first week of March, three days of yellow alert. For April, so far, there are six days of yellow and four red alerts. We think the situation this month is different from March, and [will] have a corresponding impact on spot market prices, in which it has breached to more than P9,” said Meralco utility economics head Lawrence Fernandez. Meanwhile, the Petroleum Association of the Philippines (PAP) said the recent spate of brownouts underscores the need for the country to focus on energy security or self-sufficiency in energy by being able to draw from its own power stores instead of relying on global markets. “But there’s no need to look far,” said Rufino Bomasang, PAP chairman. “We have existing indigenous energy at our disposal, such as what we draw from the Malampaya gas field in northwest Palawan. Since natural gas is an indigenous energy, it also helps in energy security.”

Duterte signs budget, but vetoes P95-B items Continued from A1

On the last week of March, Senate President Vicente C. Sotto III finally signed the budget but “with 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 that it implemented was within the parameters of the bicameral committee report

ratified by each chamber. The budget impasse was also among the reasons which forced the government to revise downward its growth targets this year and in 2020. During its 175th meeting, the Development Budget Coordination Committee scaled down the GDP growth target for the year to 6 to 7 percent, from the previous 7 to 8 percent. Economic growth next year is projected to reach 6.5 to 7.5 percent. The DBCC expects to hit the original growth target of 7 to 8 percent

in 2021 and 2022. The National Economic and Development Authority (Neda) earlier said that a reenacted budget will delay new and ongoing infrastructure projects, as well as the implementation of public services such as Unconditional Cash Transfer and Pantawid Pasada Program. Apart from the damage to the economy, the Neda also said the reenacted budget will cost as many as 180,000 to 240,000 more jobs, and fail to lift 400,000 to 550,000 more Filipinos out of poverty this year.

The law defines hot meat as “the carcass or parts of carcass or food animals which were slaughtered from unregistered/unaccredited meat establishments and have not undergone the required inspection.” Also classified as “hot meat” are undocumented, illegally shipped and unregistered carcass, parts of carcass and meat products coming from other countries and those that are classified as hot meat by the National Meat Inspection Service.

especially those that allow planes from ASF-affected countries to land, on April 30. The government will prioritize the three terminals in the Ninoy Aquino International Airport. He said the DA will spend P27 million for the 15 meat-sniffing dogs, including the payment for their handlers, for one year. Documents from the DA showed that the government’s daily expenditure is at P4,931.50 per handler, which would cover feeding, grooming, cleaning of kennel, handling and sniffing duty shift. Piñol said the government will eventually hire and deploy 40 more

trained dogs, which would cost an additional P72 million. The DA chief said in previous interviews that it would be cheaper for the government to deploy dogs than tap livestock inspectors or acquire additional X-ray machines for luggage inspection. “This procurement did not undergo bidding anymore because this is an emergency purchase. Because there are no available dogs trained for meat-sniffing,” he said in a recent interview. “The budget came from the DA, from our calamity fund.” The DA tapped the services of Great Chiens Ventures Corp. for the meat-sniffing dogs.

which registered a double-digit decline. Sales of CVs improved 32.78 percent to 22,959 units, from 17,291 units, while of PCs slumped 15.66 percent to 9,214 units, from 10,925 units. Under the CV bracket, sales of light commercial vehicles in March grew 54.4 percent to 18,793 units, from 12,171 units during the same month last year. Sales of light trucks ballooned 24.36 percent to 781 units, from 628 units, while of category IV trucks and buses increased 24.28 percent to 522 units, from 420 units. However, declines were registered in the sales of Asian utility vehicles at 29.39 percent to 2,753 units, from 3,899 units, and of category V trucks and buses at 36.41 percent to 110 units, from 173 units.

Total sales in the first quarter slipped 0.75 percent to 85,388 units, from 86,037 units during the same period last year. Still, this is a more manageable gap compared to the 8-percent decline the industry posted from January to February. Campi President Rommel R. Gutierrez said the double-digit sales improvement in March is but a signal that the industry is nearing to rebound from a dismal showing last year. “The double-digit growth in March compared to the same month last year is a strong indication that the automotive industry is well on its way to recovery. We are optimistic that this trend will be sustained in the coming months,” Gutierrez said. The sales growth in March came on the same month inflation, or the general increase in commodity prices, eased to 3.3 percent, from 3.8 percent in February and 4.3 percent during the

same month last year, according to data from the Philippine Statistics Authority. Last year the industry endured a sales decline of 16 percent. Local car assemblers attributed this largely to the imposition of excise on automobile under the Tax Reform for Acceleration and Inclusion law and the recordhigh inflation at 6.7 percent last September and October. The industry is eyeing to expand sales by 10 percent this year. Toyota Motors Phi lippines Corp. is still the leading firm with a share of 39.29 percent of the market, followed by Mitsubishi Motors Philippines Corp. with 18.9 percent and Nissan Philippines Inc. with 13.16 percent. Rounding up the top 5 are Honda Cars Philippines Inc. and Ford Motor Company Philippines Inc. with shares of 7.49 percent and 6.51 percent of the market, respectively.

T-bills. . .

Palawan. . .

Meat-sniffing dogs

PIÑOL said the government is set to deploy 15 meat-sniffing dogs in all airports for international flights,

Car. . .

Continued from A1

Continued from A12

The average annual rate for the security would have increased by 7.90 basis points if the BTr had fully awarded the P6 billion on offer, as the rate would have settled at the 6.131percent from 6.052 percent rate in the previous auction. The 182-day was partially awarded P3.263 billion from the P5 billion on offer, with bids for the security amounting to P7.819 billion. The average annual rate for the security was capped at 5.987 percent, representing a 0.50 -basis-point increase compared to the 5.982-percent rate in the previous auction. Bids for the 91-day tenor reached P9.587 billion, with the auction committee fully awarding the P4 billion on offer. The average annual rate for the security settled at 5.614 percent, 0.20 basis points higher than the previous rate of 5.612 percent. “[They parked in the] short term, I think, because there’s really no major data or report within the week, so I think it’s safer for them to park it at the shortest tenor,” he added. Meanwhile, Sta. Ana said the planned Panda bond issuance is still being eyed after the Holy Week break,and this will still depend on the approval of the National Association of Financial Market Institutional Investors (Nafmii) and the People’s Bank of China (PBOC). “So in this case we are working on a transaction potentially as early as next week, or maybe it can move depending on the approvals that we will be obtaining, especially from Nafmii and PBOC. We’ll know the size better once we make that decision to go... he initially, well [Finance] Secretary [Carlos G.] Dominguez [III] already mentioned in his previous interviews that the size as originally planned may be reduced considering where we are in terms of disbursements. The budget is still reenacted at this time, so those factors,” he said.

Libya. . .

Continued from A12

“Sir, your daughter’s censorship! Anyhow, the ban on Libya deployment of workers as early as now is better than having casualties before implementing the ban. Kudos for an early action.” Nearly a week of fighting on the city’s

Continued from A12

During the plebiscite, scheduled in May 2020, registered voters in Palawan will decide if they will support RA 11259. Under RA 11259, the province is split into Palawan del Norte, Palawan Oriental and Palawan del Sur.

No implication on West PHL Sea

MEANWHILE, Malacañang does not see any possibility that the new law splitting Palawan into three provinces will bolster China’s position in the West Philippine Sea. The Palace was responding to a statement by Hontiveros that the law has “deep geopolitical repercussions” since “China will now have the opportunity to infiltrate and influence smaller local government units” instead of having to face a single, strong provincial government, which can mobilize the entire island in its own defense. President Duterte signed RA 11259 dividing Palawan into three provinces just days after Manila got embroiled in another word war with Beijing over the swarming by hundreds of Chinese boats in the vicinity of Pag-Asa Island, the biggest in the Kalayaan Island Group that

BIR. . .

is a municipality of Palawan. More than 200 Chinese vessels were spotted swarming Pag-Asa Island, according to local authorities. But Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo was quick to defend the law splitting Palawan in three, saying he sees“no connection” in relation to Hontiveros’s claim. Panelo added that even though Palawan is not divided, China can infiltrate if it wants to. “Even if there is no division into provinces, it will infiltrate it if it wants to,” Panelo added in Filipino. The Palace spokesman also stressed that every creation of a new province was meant to help the government respond better to the needs of the people through faster delivery of basic services. The first set of elective officials of the newly created provinces will be chosen in the May 2022 national and local polls. The measure has also since been criticized by some Palawan residents and indigenous peoples. Hontiveros also said there was a lack of genuine consultation in the proposal, citing a letter from Bishop Eduard Sarabia Juanich of Taytay, Palawan, and the petition by the Save Palawan Movement.

This is the first tax-filing period wherein the new forms and processes under the TRAIN are being used. The law slashed personal income tax (PIT) rates imposing a zero tax on income totaling 250,000 and below, while implementing offsetting measures to compensate for the revenue loss, including increasing the excise tax rates for fuel and tobacco products. “We are expecting that it might be lower, but we are hoping that we still exceed the actual April 2018 collection because even if the PIT was reduced, more individuals are filing because of TRAIN and the lowered income tax rate. Total collections for April 2018 income tax is P140 billion, so hopefully

we exceed that with the expansion in the taxpayer base,” Cabreros added. The TRAIN law was enacted in 2017 and immediately took effect in January 2018. She explained that for 2018, individual taxpayers alone that the BIR registered numbered 19.2 million, with 3 million accounting for individuals, professionals and single proprietors. Corporate taxpayers were registered at 932,000 for the year. “The increase in registered taxpayers [would be through] the simplicity brought about by TRAIN, the reduction of PIT and the ease of having to comply with our tax obligations because most of the transactions or the filing are done already online,” she said. Failure to file income tax returns on time will incur a penalty of 25-percent surcharge and an additional 20-percent interest per annum, according to the BIR.

doorstep has already killed 56 people and wounded 266, the World Health Organization (WHO) said. “Thousands of people have fled their homes, while others are trapped in conflict areas. Hospitals inside and outside (Tripoli) are receiving daily casualties,” it said. Meanwhile, the head of mission to Libya, Cato, tweeted that he visited Filipino nurses at the Oil Clinic in Tripoli to tell them about the

DFA repatriation offer. “There were no takers. They said they would stay. It’s Day 10 of the conflict but only 19 of 1,000 Filipinos in Tripoli want to go home.” Cato added: “For Filipinos in Libya, the situation in Tripoli is normal despite the danger that looms from the intense battles raging just a few kilometers away.” To which Locsin replied in another tweet: “They are the best of the Filipino race.”

Continued from A1

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PARANOIA OR A REAL THREAT?

Rights group asks SC for writ of amparo, habeas data vs Duterte, top security execs

By Joel R. San Juan @jrsanjuan1573

HE National Union of People’s Lawyers (NUPL), an organization of human-rights lawyers, law students and legal workers in the country, has filed a petition before the Supreme Court seeking the issuance of a writ of amparo and a writ of habeas data against President Duterte along with top police and military officials. Through the issuance of a writ of amparo, the petitioners hope to get protection for its members whose rights to life, liberty and security are said to be in peril due to persistent threats, harassment and red-tagging by some government officials. On the other hand, the petitioners said the issuance of a writ of habeas data is necessary to compel the respondents to produce, correct or to destroy files in their possession or under their control that are being used to

threaten their safety. The petition was filed by NUPL chairman, lawyer Neri Colmenares, who is also a senatorial candidate in the May elections, and other officials of the group, namely, law yers Edre Ola lia, president; Catherine Salucon, vice president; Ian Anthony Sapayan, vice president for NUPL-Visayas; Ephraim Cortez, secretary-general; Edgar Carmona, auditor; and Bayan Muna Party-list Rep. Carlos Isagani Zarate Aside from Duterte, named

respondents in the petition were National Security Adviser Hermogenes Esperon Jr., Defense Seretary Delfin Lorenzana, Armed Forces of the Philippines (AFP) Chief of Staff Gen. Benjamin Madrigal Jr., AFP Deputy Commander for Intelligence Brig. Gen. Fernando Trinidad, AFP Chief of the Intelligence Service Maj. Gen. Erwin Bernard Neri, Philippine Army chief Lt. Gen. Macairog Alberto and AFP Deputy Chief of Staff for Civil-Military Operations Maj. Gen. Antonio Parlade Jr. The NUPL handles cases and issues of public interest like power and public transport rate hikes, environmental cases, extrajudicial killings of suspected drug users and pushers, and other cases pertaining to human-rights violations. In their petition, the group noted that some of its members had been killed, harassed, placed under surveillance and criminally charged since the military tagged them as having links with the Communist Party of the Philippines and the New People’s Army. They noted that while the killings, harassments and surveillance of its members have been happening since 2001, these attacks significantly increased under the present administration. From 2001 to 2015, the group recorded more than 43 lawyers

DILG chief questions kidnap-risk listing

HE Department of the Interior and Local Government (DILG) on Monday questioned a recent US State Department report listing the Philippines as one of the countries with high kidnapping risks. DILG Secretary Eduardo M. Año said kidnapping cases in the Philippines continue to decrease, assuring that foreigners in the country have no reason to be alarmed. Kidnapping cases in the country, he added, had been on a steady

decline in recent years through the government’s relentless and proactive stance in its peace and order program. “A list is just a list. What we have are factual data pointing to the decreasing number of kidnapping cases in the Philippines. That’s what we are banking on,” Año says. The US State Department has named the Philippines among 35 cou nt r ies, toget her w it h Iraq, A fgha nist a n, Pa k ist a n, and even Malaysia and Russia,

with high kidnapping risk, advising Americans to take extra caution when traveling in those countries. “We do not know yet how they came up with the list, but with the strong stance of President Rodrigo Duterte against criminality in general, we see no basis for including us in this list. We will request from the US Embassy what were the parameters used, since even Malaysia and Russia were included,” he said. Jonathan L. Mayuga

Govt urged to fast-track F1K implementation

HE government has to fasttrack the implementation of the first 1,000 days (F1K) program to prevent more Filipino children from becoming stunted, according to the National Economic and Development Authority (Neda). In an interview on Monday, Neda Undersecretary Rosemarie G. Edillon told the BusinessMirror that the F1K program can help change the tide for Filipino children nationwide. Recently, the World Bank ’s report on its Human Capital Index (HCI) showed that the Philippines only had a score of 0.55,

which means children born today only have a 55-percent chance of reaching his or her potential at the age of 18. “Where we really lagged behind is with respect to stunting, but that could actually be addressed by our F1K [program], the first 100 days. We need to implement it, fund it, because for this [F1K] one, you’ ll requ ire col laborat ion w it h t he LGUs [local government units],” Edillon said. T he first 1,000 days refer to the first 1,000 days of a baby’s life, which begins in the womb and ends when the baby

turns two years old. If children lack the nutr ition they need at this time, they are likely to be stunted. Edillon said that, as such, implementing the F1K program will require close monitoring or what she called “man-to-man guarding” of pregnant women and newborns, which is difficult to do at the national level without the LGUs. Monitoring pregnant women means ensuring that they get the necessary iron and folic acid supplements that will make them and their children healthy. Cai U. Ordinario

killed and 57 attacked. On the other hand, under the Duterte administration, 36 lawyers had been killed from July 1, 2016, to January 2, 2019. On the other hand, 55 lawyers had been attacked and threatened due to their work. “Despite the increasing number of attacks against lawyers and members of the legal profession, apparently no case has been filed in court against any perpetrators,” the petition read. The petitioners claimed that the killings and threats made against them violate the United Nation’s Basic Principles on the Role of Lawyers, which mandates governments to guarantee the functioning of members of the legal profession. “These threats and intimidation, including the fact that petitioners are being subjected to surveillance, are clear indicia that respondents are in possession of information, which they have unlawfully compiled and are using as basis in the cited spate of attacks,” the petitioners said. “These data information, including continued surveillance, not only violate the petitioners’ right to privacy but also negate the constitutionally protected and inviolable right of every person to be secure in their persons, houses, papers and effects,” they added.

Marina affirms gender equality in work place

HE Maritime Industry Authority (Marina) said on Mond ay that promoting gender equality in the industry would help the Philippines fulfill its Maritime Industry Development Plan (MIDP). In a news statement that highlighted a gender-sensitivity workshop spearheaded by Marina’s Shipyards Reg u lation Ser v ice (SRS), the agency said promoting equality in the workplace and removing gender barriers is key to achieving its goals for the industry. “The Marina believes that the active participation of every Filipino will lead to the fulfillment of the Maritime Industry Development Plan, and part of it is employing more people in the maritime industry, regardless of gender,” the statement read. Marina added that a more inclusive and less discriminatory environment is instrumental in engaging more individuals in the maritime industry. “This gender-sensitivity workshop is not intended to devalue men by empowering women, but an opportunity to learn how to respect each and every individual,” Marina-SRS Director Ramon Hernandez said. Lorenz S. Marasigan

Tuesday, April 16, 2019

Is sustainable business on your radar screen?

OME organizations have made fundamental shifts to redesign their operations behind sustainable principles. These are sustainability leaders. For most organizations, however, efforts have tended to stall out after the easy work of reducing energy and waste. But there is much more to sustainability. Eventually, designing operations and products with sustainability principles in mind must become the norm in every organization. The most sustainable organizations are not ones that try to make marginal improvements on the way business is conducted, but make the sustainable way the normal course of business. Unilever, also active in the Philippines, has made fundamental shifts to redesign operations behind sustainable principles, and San Miguel Corp. has minimized its environmental footprint, informing us about their designed reduction of water consumption and converting plastic waste into road-making materials. Increasingly, society expects more from business than financial sustainability; it expects that companies undertake work to ensure the social and environmental sustainability of their operations and products.

Do products meet real needs without creating new problems?

CONSCIOUS companies understand the full impacts of the products or services they introduce into society. Taking a systemsthinking approach to the design and delivery of products or services may allow for the discovery of other unintended impacts — both good and bad. Adding benefits beyond the core value can enhance customer perceived value, expand markets and make positive contributions to the world. On the other end, products sometimes can meet one customer need, while at the same time inadvertently create another problem in the process. Operational efficiency and waste minimization are not a new business concern. Surprisingly, despite the effectiveness of this movement, sustainability has revealed even more sources of waste and operational risk. Some of this takes the form of materials that, while cheap to purchase, create additional, hidden costs related to health and environmental impacts. Toxic materials require protective gear, as well as special handling and disposal, and can result in lost productivity from illness or injury. These costs get buried in line items on the ledger sheets.

Do products help customers be sustainable?

FOR many products or services, the biggest impact is downstream; how consumers use them or behave in the process of using them. Companies have an enormous opportunity to encourage sustainable customer behavior by the way they design or shape their offerings. As customers’ behaviors change, their demand for sustainable products and services increases. This “virtuous cycle” moves the society in a more sustainable direction and builds market opportunities at the same time. Demand for electric vehicles, for example, is on an exponential growth curve.

What costs make us vulnerable to future risks?

CURRENT regulatory policies and standard business practices allow business in all industries to externalize some of the costs of their operations. By “legalizing” pollution, for example, we have passed on the cost of harmful effects of emissions and effluent to the public. Similarly, businesses are seldom held responsible for the “end of life” expenses related to the products they put on the market. What would happen to the bottom line if public sentiment changed and organizations suddenly were expected to bear these burdens? The question to ask here is: How would you operate if you had to incorporate these expenses into your ledgers? What would that imply you would need to do differently to stay profitable? As with many sustainability considerations, the opportunity is in getting ahead of these risks so that they do not blindside you later.

What is fair distribution of our revenues?

IF the business model hollows out the middle class or causes customers to go into deep debt to buy its products or prevents suppliers from earning a living wage or investors from earning a fair return, the organization undermines the foundation of its success. Enterprises should consider what portion of sales ideally should go to each stakeholder group (shareholders, employees, key partners and the community, for example) to maintain the long-term viability of the entire system upon which their business model is built. It’s good to see that the SEC is forcing publicly listed companies in the Philippines to invest into inclusive growth and improve the lives of the poor and unemployed.

How is trust established and maintained with stakeholders?

INTANGIBLES such as brand image and goodwill are often the most important and valuable assets for most organizations. The value of customer loyalty and advocacy never has been more important than in this age of digital transformation—a highly connected world enabled by social media. Trust is built on competence and character. Character is demonstrated through openness, honesty, consistency and follow-through. Figure out what might be important to customers in their decision-making process and make it easy for them to access credible, timely and accurate information. It can take years to develop trust and just one misstep to lose it. Feedback is more than welcome; e-mail me at Schumacher@eitsc.com

Duterte vetoes survivorship benefits bill over ‘too much disparity and inequality in compensation’

HE bi l l e x pa nd i ng t he survivorship benefits to children or parents of deceased retired officials of constitutional offices failed to get the President’s approval, saying it may prove to be “too onerous to the government.”

The new bill was filed since the law does not recognize the circumstances of a deceased official who may be unmarried or who may be a solo parent, since the current law, Republic Act 10084, only provides benefits to the surviving legitimate spouse

of deceased retired officials of the Commission on Audit, Civil Ser v ice Commission, Commission on Elections and the Ombudsman. In his April 12 veto message released on Monday to reporters, Duterte said he was “appre-

hensive” to approve the measure since the benefits granted, in addition to the benefits enjoyed by the gover nment offices, would “erode the national government’s thrust to standardize and rationalize the current compensation framework

in the bureaucracy.” The President also lamented that the bill will also “create too much disparity and inequality in compensation among public servants, as the additional benefits proposed in the enrol led bi l l are e x traord inar y

benefits that are not granted to any government official under the current compensation framework.” “In view of these considerations, I am constrained to veto the above-mentioned enrolled bill,” Duterte said. Bernadette D. Nicolas

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In the ad material of Notice of filing of Application for Alien Employment Permits published on April 6, 2019, the applicant of NEW ORIENTAL CLUB88 CORPORATION should have been read as Mr. Du Man Ha and not as published. In the application published on April 6, 2019, the position of Mr. Alvinno Fento under ZIMI TECH, INC. should have been read as Bahasa Language Customer Service Representative and not as published. If you have any information/objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400 6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

A10 Tuesday, April 16, 2019 • Editor: Angel R. Calso

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editorial

PHL always pays its debts

INANCE Secretary Carlos G. Dominguez III is right when he said there is no need to worry about the Philippines defaulting on Chinese loans, because the country has never defaulted on its loans, not even when it was cash-strapped. He noted that the country even paid its obligations on the mothballed $2.2-billion Bataan Nuclear Power Plant project. This is true, because debt service is guaranteed under an automatic appropriations law that was enacted during the Marcos administration. This law grants the executive department power to automatically appropriate a portion of the national budget for debt servicing. In the 2018 General Appropriations Act, for instance, P371 billion or 10 percent of the budget was earmarked for debt servicing. The Philippine government has explored ways to reduce its debt burden in past administrations. When Gloria Macapagal-Arroyo was president, she made a debt-for-equity pitch for developing countries at the 2005 UN Global Summit. The proposal was drafted by then-House Speaker Jose de Venecia, and endorsed by then-UN Secretary-General Kofi Annan, who called it a “creative way of approaching external debt.” Debt-for-equity means the debt service or principal amount will be converted into equities in poverty alleviation projects. This is different from debt forgiveness or debt cancellation, which the Philippines never really sought. It could have been a good alternative and a viable option for countries paying so much in interest each year to foreign creditors. Had the proposal been adopted, around P120 billion in our country’s debt payments could have been freed up and used for housing, infrastructure, postharvest facilities, reforestation, and other government programs. While not canceling our external debts altogether, the proposal would have reduced our loan exposure while stimulating economic development. It could have bought us a much-needed respite from the self-perpetuating downward spiral of accruing debt. Sadly, the proposal was rejected. Any kind of debt relief program hangs precariously on the willingness of creditors to grant it. Our country did not qualify for debt forgiveness when the initiative was started by the International Monetary Fund and the World Bank in 1999 to cancel the debts of highly indebted poor countries or HIPCs, which were mostly those in sub-Saharan Africa. In a nutshell, we were not deemed poor enough. In 2010, the Philippines was even labeled a “creditor nation” by the IMF. When the IMF was banging its tin cup for more money to increase its war chest to deal with the financial crisis confronting economies in Europe in 2012, the Philippine government (under the Aquino administration) even pledged a $1-billion loan. This was on top of the $251.5 million it had given to the IMF to finance its assistance program. The $1 billion came from the country’s international dollar reserves, which keep increasing due to the consistently high remittances from overseas Filipino workers. Ironically, OFWs had no say in that loan we gave to the IMF. Neither did Congress, even if it supposedly has the “power of the purse” as the people’s representative. That we honored even dubious debts that were incurred during the Marcos administration, as Secretary Dominguez pointed out, may not be something to be proud of. But the Philippines always pays its debts, even if many anti-debt advocates believe there is no obligation to pay some if not all of these loans, because the creditors knew fully well they were giving the money to a corrupt regime that was looting and defrauding the country. We paid our debts to the IMF and the World Bank even if the loans came with conditions that exacted social costs, not just the interests on the money our government borrowed. Make no mistake, the Philippines is a good debtor. Hundreds of billions of dollars that could have been allocated for social and economic services to alleviate the crippling poverty in this country went instead to the accounts of our creditors.

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THE ENTREPRENEUR

HE steady economic growth in the Philippines over the past three years lifted thousands of Filipinos out of poverty. This to me is a validation that we are on the right track toward our goal of becoming an upper middle-income economy soon. Preliminary results of the Family Income and Expenditure Survey conducted by the Philippine Statistics Authority show that the poverty incidence among Filipino individuals improved to 21 percent in the first half of 2018 from 27.6 percent in the same period in 2015. Poverty incidence refers to the proportion of the population living below the poverty line. Poverty incidence among Filipino families, according to the latest PSA data, also eased to 16.1 percent in the first half of 2018 from 22.2 percent in the same period in 2015. The PSA said a family of five needed P10,481 on average in 2018 to meet both basic food and nonfood needs each month, representing the poverty threshold. The 6.6-percentage-point reduction in poverty incidence over the course of three years became possible because of the sustained economic

growth and critical and broad-based reforms and investments that translated into employment generation and social protection, according to the National Economic and Development Authority. I believe the “Build, Build, Build” infrastructure program of the Duterte administration has already generated tens of thousands of jobs and helped reduce poverty incidence in both rural and urban areas. Neda itself confirmed the growth in the construction and manufacturing sectors “created more employment opportunities for Filipinos.” It also noted the increase in income of Filipino households as employment shifted to the industry and service sectors from agriculture. While inflation rate rose to 8.1 percent in the period of 2015-2018 from 7.8 percent in 2012-2015, data show the growth in average

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Neda has confirmed the growth in the construction and manufacturing sectors “created more employment opportunities for Filipinos.” It also noted the increase in income of Filipino households as employment shifted to the industry and service sectors from agriculture. income accelerated to 21.2 percent from 15.3 percent. Neda said the growth in percapita income of the bottom 30 percent of households picked up to 29.2 percent in the 2015-2018 period from just 20.6 percent in the 2012-2015 period. “This implies an increase in real incomes of the poor, which has helped in reducing poverty among Filipinos,” the economic agency said. It said the growing contribution of industry, particularly construction and manufacturing, to output and employment would continue to create more income-earning opportunities that are accessible to the poor. Despite the lower-than-expected 6.2-percent gross domestic product growth in 2018, the growth in employment would continue to reduce poverty incidence in the country in the coming years. Economic growth is expected to pick up this year to around 6.5 percent on the decelerating inflation rate and robust domestic demand, according to the

International Monetary Fund. The IMF said growth would be even faster in the coming years. The PSA reported earlier that the unemployment rate in the Philippines fell to 5.2 percent in January 2019 amid the improving economic conditions. This implies that the poor directly benefits from steady economic growth. Looking closer at the FIES report, we can find that the poverty incidence in the National Capital Region was only 6.6 percent, compared to the national average of 21 percent. This is consistent with observations that the average income in Metro Manila is around three to four times higher than in other regions. With the Duterte administration’s strategy to spread out economic activities throughout the country and the infrastructure buildup, more provinces are expected to benefit from the economic growth. The Build, Build, Build program, for one, will make more towns accessible to investors and tourists, and thus create job opportunities for families living below the poverty line. Some provinces are now actually enjoying brisk economic activities, as the government builds roads, bridges and airports, implements subsidy programs, and pursues peace initiatives to make growth more inclusive. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

More important than ‘Kris, Mar and Noy’

Jennifer A. Ng Vittorio V. Vitug

Ruben M. Cruz Jr. Angel R. Calso

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More Filipinos saved from poverty

John Mangun

OUTSIDE THE BOX

‘I

F your friends don’t talk about money, you need new friends” —at least that is what I read frequently on social media. Apparently, the idea is that money is a delicate subject with the entire “money is the root of all evil” thing. Another school of thought is that people who do not talk about money are not concerned about being richer. Interestingly, though, politics is an acceptable topic of conversation among friends, enemies and strangers. And yet in almost every country on the planet, the government—which is all about politics—is considered one of the great problems or even evils in society. Unlike with money—which requires an army of financial literacy teachers—everyone is a political expert. There is even a college degree called “political science”—I have one also—which I guess means to give “politics” more credibility. Of course, most political discus-

sion basically comes down to “I’m right; you are wrong...and also you’re just like Hitler!” That does not sound too scientific. But politics is all about good versus evil, and that is very simple to understand. Maybe the reason that people do not talk much about money is that it is a complicated topic. One problem may be that money and economics are used by the “politics scientists” as a weapon in the war between good and evil. It’s like the “job creation” numbers. One reason that current job creation is low is that unemployment is low.

The fact that the 10-year trend of unemployment and of “employed persons” has been positive cannot be allowed to step in the way of the political narrative. If the data does not match the narrative, well then—obviously—the data is false or manipulated. And politics is a “science”? Recently, in another newspaper was a story with the headline “Bank rediscount loans surge 7-fold in Q1.” This is actually a big economic story with potentially long-term implications. Surprisingly—or maybe not —there was not a single comment to that article as there were dozens to the story “Kris Aquino twits Mar Roxas aide: Don’t blame Noy for defeat.” Now, about the banks and those rediscount loans. Banks loan money to clients and receive in return an “IOU.” The amount a bank can loan out is strictly controlled and monitored by the Central Bank. The Bangko Sentral offers a standing credit facility for the banks to tap when they need additional funds for lending. Banks deposit the clients’ exiting loan agreements as collateral. In this case, local topline banks borrowed P52 billion

in the first quarter of the year, or more than seven times the P7 billion last year. In effect it means that the banks loaned an additional P50 billion in the first quarter because demand for money was high. The implication is this: Fiftysix percent went particularly for capital asset expenditures and 44 percent went to import loans. The banks’ clients wanted billions to use for exiting operations (38 percent for capital asset expenditure) and imports. This shows companies are willing to take on more debt anticipating making more money in the future. Further, when interest rates are lowered in the next months, loan demand—and business activity—should increase substantially. That is good for the economy. Unfortunately for some, it is hard to put a political narrative on “Bank rediscount loans.” With “Kris, Mar and Noy,” it is much easier. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

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One Person Corporation: Will this work in our jurisdiction?

2019 ‘Cybersecurity Almanac: 100 Facts, Figures, Predictions and Statistics’

Atty. Ronel Andrew R. Morano

Cecilio T. Arillo

DATABASE

TAX LAW FOR BUSINESS

NE of the great amendments brought about by the Revised Corporation Code is the introduction of the so-called One Person Corporation. Under the RCC, a One Person Corporation (OPC) is a corporation with a single stockholder. This means that a natural person, a trust of an estate may now form a corporation. This is a deviation from the old law that required at least five natural persons to organize a corporation. The advantage of this new law is that an individual may at anytime organize a corporation without the need to look for other incorporators. One of the reasons the OPC was introduced is because micro, small and medium enterprises (MSMEs) are growing in numbers but can hardly survive due to the fact that they are organized as sole proprietorships. One of the disadvantages of such is that their creditors can go after their personal accounts up to the last centavo. Under the RCC, OPC shall not be required to have a minimum authorized capital stock except as otherwise provided by special law, and can only be liable up to the assets or contributions of the individual to the corporation. But the RCC also provided a safeguard to the creditors of the OPC. When the single stockholder cannot prove that the property of the OPC is independent of the stockholder’s personal property, the stockholder shall be jointly and severally liable for the debts and other liabilities of the OPC. The single stockholder enjoys the privilege of having a separate personality or limited liability under the OPC but has the burden of proof to show that the assets of the OPC are independent of the personal properties of the single stockholder. Since the RCC wants to give MSMEs a greater chance to grow in terms of their finances, an OPC is not required to have a minimum authorized capital stock except as otherwise provided by special law. This means that capitalization should not be a problem for the MSMEs for them to establish a corporation. Under the old Corporation Code, corporations are required to register with the Securities and Exchange Commission and file reportorial requirements, including Articles of Incorporation and By-Laws. Under the RCC, OPC is still required to register with the SEC, file its Articles of Incorporation but is not required to file By-Laws. An OPC also has the following unique features. It should indicate the letters “OPC” either below or at the end of its corporate name. The single stockholder is considered the sole director and president. The single stockholder can perform the duties of the president, director, treasurer and corporate secretary

simultaneously. The single stockholder is also mandated to designate a nominee and an alternate nominee who shall, in the event of the single stockholder’s death or incapacity, take the place of the single stockholder as director and shall manage the corporation’s affairs. Taxation wise, under the Tax Reform for Acceleration and Inclusion law, OPC can avail itself of the Optional Standard Deduction of 40 percent of its gross income while sole proprietors, as individual tax payers, can avail themselves of the OSD of 40 percent based on their gross sales or receipts. This rule benefits the corporation, in general, as they can first deduct their cost of goods or cost of service while individual taxpayers cannot. Likewise, under the TRAIN law, sole proprietors as individual tax payers have the advantage on paying only 8 percent based on their gross income provided their gross income does not exceed P3 million. A corporation, like OPC, cannot avail itself of this tax regime, as it is only available to individual taxpayers. The 8 percent GIT is in lieu of income tax, VAT and other percentage taxes while OPC can be subjected to income tax, valueadded tax or other percentage taxes. Given these considerations, it remains to be seen whether OPC will work in our country. The success or failure of the so-called One Person Corporation is yet to be seen but I am a firm believer of the quote, “All great things have small beginnings.” Since this window of opportunity has been opened, we can use it to our advantage in our first big step to success.

The author is a junior associate of Du-Baladad and Associates Law Offices, a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at ronelandrew.morano@bdblaw. com.ph or call 403-2001 local 170.

Conclusion

N essence, the Almanac provides a stunning narration and exposition of events in cost far greater than the 2008 New York Times best-selling book, The Three Trillion Dollar, which was the cost of war in the Iraq conflict written by Nobel Prize winner in economics Joseph E. Stiglitz and Linda J. Bilmes, an expert on government finance, of Harvard University’s Kennedy School of Government, published and copyrighted by Norton paperback in 2008. Amazon, one of the world’s largest publishing houses based in Seattle, USA, and the publisher of six of my nonfiction books—Breakaway, Greed & Betrayal, Power Grab, A Country Imperiled, Imelda and The Marcos Legacy—also carried Stiglitz’s and Bilmes’s book on its list.

Women in cyber security

CISCO’s John Stewart, senior vice president, and chief security and trust officer, said in 2018 RSA Conference that Women in CyberSecurity and Girls Who Code are examples of groups that are working to close the skills and diversity gap. Cybersecurity Ventures predicts that women will represent 20 percent of the global cyber-security work force by the end of 2019. This recalculates a six-year-old figure based on a limited survey that concluded women held just 11 percent of cyber-security positions. Research firm Forrester predicts that the number of women at Fortune 500 will rise to 20 percent in 2019, compared with 13 percent in 2017. This is consistent with new research from Boardroom Insiders, which states that 20 percent of Fortune 500 Global CIOs are now women—the largest percentage ever. Quartz worked with data from private-equity research firm Pitchbook to develop a unique dataset that identifies more than 200 rising stars among the venture-backed companies (across all industries) led by female founders in the US. Five women in cyber security showed up in the top 25—and collectively they raised $300 million. Altogether nine women in cyber security on the index raised nearly half a billion dollars.

Ninety-one percent of women in cyber security have a bachelor’s degree, and 20 percent to 25 percent of them have an MBA or master’s degree. Five percent have a PhD, and two percent have no degree. Women in the cyber security field are trending up in Israel, the world’s second-largest country in terms of cyber-security investment. In 2018, TechCrunch reported that for the most recent year tracked, 15 percent of newly established Israeli cyber-security start-ups had a female founder, an increase from 5 percent the previous year. RESET, held in London, was the first cyber-security conference with an all-female speaker lineup. The June 2018 event featured 15 women cyber-security speakers with in-depth knowledge of destructive cyber-attacks and criminal operations, threat hunting and strategy, and human-centric security. One hundred seventy five people attended the one-day conference. There’s a growing number of women in cybersecurity association, events, lists, media stories, blogs, women-owned companies and new programs—for instance the 100 women in 100 Days Cybersecurity Certification—that are creating more momentum than ever for gender equality in this field.

Personal and data privacy

CYBERCRIME has hit the US so hard that a supervisory special agent with the Federal Bureau of Investigation who investigates cyber intrusions told The Wall Street Journal that every American citizen should expect that all of their data (personally identifiable information) have been stolen and is now on the Dark Web.

‘There’s a whole world out there that needs you’ Manny F. Dooc

TELLTALES Continued from A1

HE Federation has become a model of the art of giving. In its own modest way, it has demonstrated that an organization whose members are of foreign descent can do great things to help the impoverished population of their adoptive country. A true giver does not recognize nationality, religion or race. During the last two years alone, the Federation has constructed and donated 856 classrooms under its flagship program, Operations Barrio Schools. Since 1961, it has donated a total of 11,540 classrooms all over the country accommodating over half a million schoolchildren attending whole day classes. It has conducted Libreng Gamutan Medical and Dental Missions that helped over a million patients around the country. It has distributed thousands of truckloads of relief goods to calamity stricken areas to ease the suffering of our people. Its memberchambers in Metro Manila have not only donated but also operated fire trucks with complete firefighting equipment and crews. Their fire trucks are sometimes the first to respond to put out a fire. Typical of traditional Chinese, the

Federation members believe that sharing, giving and doing benevolent acts to those in need shall bring them good karma. As one thinker has profoundly stated: “We make a living by what we get, we make a life by what we give.” This has become their philosophy of life. Former President Bill Clinton who has been active in charity works since he left the White House said: “There’s a whole world out there that needs you, down the street or across the ocean. Give.” Let’s all heed this call. nnn FIDEL VALDEZ RAMOS, also known as FVR, is now our oldest living former president. He just turned 91 years old on March 18. He and his wife, Ming, are also the oldest living First Couple of our country having been husband and wife for the past 64 years. He married Amelita Jara Martinez on October

Tuesday, April 16, 2019 A11

32, 1954. President Ramos was elected president in 1992 at the age of 64. He was the hero of the 1986 Edsa People Power Revolution, the bloodless coup that ousted Ferdinand Marcos from Malacañang. He is credited for stabilizing our fragile democracy wracked by seven coup attempts and for reviving our sagging economy, which grew by roughly 7 percent annually during his term. His administration recorded the highest tax collection efficiency. He also opened up the telecommunication, banking and insurance industries by enacting laws and adopting regulations that introduced significant reforms in these sectors. He resolved the power crisis, which hounded the previous administration, disrupted business operations and crippled household activities in the late 1980s and early 1990s. President Ramos fought or served in many wars—the Hukbalahap military campaign as a platoon leader, the Korean War as a young officer of the Philippine Expeditionary Forces to Korea, Vietnam War as the commander of the advanced unit of the Philippine Civic Action Group to Vietnam—and survived them all. He served the military for 37 years. For his distinguished services, he won many military awards, including the Philippine Medal of Honor, the US Legion of Merit, the French Legion of Honor and the US Military Academy Distinguished Graduate Award and Legion of Merit. But the biggest battle he fought and valiantly won without even firing a single shot was the battle of Edsa. Undoubtedly, his heroic role in the Edsa People Power Revolution earned him the greatest honor that his country can

ever give—the love and respect of his own people who elected him as their commander in chief. At his age now, he may no longer skydive thousands of feet from the sky carrying a case of beer to his waiting soldiers on the ground nor replicate his patented victory jump in Edsa, but these historic moments will linger forever in our minds. Long live, FVR! nnn AMELITA JARA MARTINEZ RAMOS, Ming to her friends, is the wife of the 12th president of the Republic. She’s an extraordinary woman who continued her job as the school registrar of International School of Manila during her husband’s presidency. Ming was a working First Lady in the real sense of the word. She’s an accomplished amateur pianist who performed several times with the Executive Combo Band of Sen. Raul Manglapus. She’s also a sports enthusiast with badminton as her favorite sports. She even served as the president of the Badminton Association of the Philippines, but her greatest passion is cleaning up the Pasig River. In order to finance the massive rehabilitation of the Pasig River, she supported the Piso sa Pasig fund campaign launched by the Clean and Green Foundation. Ming Ramos is an ideal public servant even without holding a public office. nnn K AI SOTTO, the 7-foot-2 basketball player of Ateneo Juniors Team, who is now the most dominant player in the junior league has recently announced that he would be joining a ballclub abroad to train and further hone

Hackers stole nearly 447 million consumer records containing sensitive personal information last year, according to the Identity Theft Resource Center. That’s a jump of 126 percent from the prior year and a new record for the number of compromised files in a single year. Over 40 percent of companies have sensitive files that are unprotected and open to every employee, according to TechRepublic. Tech Support Fraud is a widespread scam in which criminals claim to provide customer, security, or technical support in an effort to defraud unwitting individuals and gain access to the individuals’ devices. In the FBI’s most recent Internet Crime Report, they state that there was a 90 percent increase in losses over the prior year—from complaints reported to the Internet Crime Complaint Center (IC3). Nearly 60 million Americans are affected by identity theft last year, according to a 2018 online survey by The Harris Poll, an increase from 15 million in 2017. Eighty-seven percent of companies are experiencing delays in their sales cycle due to customers’ or prospects’ privacy concerns, up from 66 percent last year, according to those surveyed in the 2019 Cisco Data Privacy Benchmark Study. This is likely due to the increased privacy awareness brought on by General Data Protection Regulation (GDPR) and the frequent data breaches in the news. Those organizations that invested in data privacy to meet GDPR experienced shorter delays due to privacy concerns in selling to existing customers: 3.4 weeks versus 5.4 weeks for the least GDPR ready organizations. Overall, the average sales delay was 3.9 weeks in selling to existing customers, down from 7.8 weeks reported a year ago, according to the 2019 Cisco Data Privacy Benchmark Study (2019 CDPBS). Among all respondents in the 2019 CDPBS, 59 percent indicated they are meeting all or most of GDPR’s requirements today. Another 29 percent said they expect to be GDPR ready within a year, 9 percent said it would take more than a year to get ready, with the remaining 3 percent stating the requirements did not apply to their organization.

Small-to-midsize businesses

that have less sophisticated security infrastructure and practices, and an inadequate number of trained personnel to manage and respond to threats, according to a Cisco Cybersecurity Special Report. Nearly half of all cyber attacks are committed against small businesses. Sixty percent of small companies that suffer a cyber attack are out of business within six months, according to the US National Cyber Security Alliance. Cisco’s 2018 SMB Cybersecurity Report found that 53 percent of midmarket companies in 26 countries experienced a breach. For these companies, the top security concerns are targeted phishing attacks against employees, advanced persistent threats, ransomware, denial-of-service attacks and the proliferation of employees allowed to use their own mobile devices. A Better Business Bureau survey found that for small businesses —which make up more than 97 percent of total businesses in North America—the primary challenges for more than 55 percent of them in order to develop a cyber-security plan are lack of resources or knowledge. Cisco security experts explained that small/midmarket businesses are more inclined to pay ransoms to adversaries so that they can quickly resume normal operations after a ransomware attack. They simply can’t afford the downtime and lack of access to critical data—including customer data. The 2019 Cybersecurity Almanac will be periodically updated with revised and new facts, figures, predictions and statistics. Cisco is the worldwide technology leader that has been making the Internet work since 1984. Its people, products and partners help society securely connect and seize tomorrow’s digital opportunity today. Cybersecurity Venture is the world’s leading researcher and Page ONE for the global cyber economy, and a trusted source for cyber-security facts, figures and statistics. Cybercrime Magazine publishes reports covering global cybercrime, cyber warfare, hacks and data breaches, cyber-security market forecasts and spending predictions, M&A and VC funding activity, cyber-defense employment and more.

his skills as a player. He was recently named the most valuable player of UAAP juniors division. While his absence in the local league will diminish the luster of the games, I’m sure his basketball-crazy fans will understand and support his move. Kai, you have to chase and live your dream to become a great NBA player. “I strongly feel that leaving immediately to start my training and getting the right exposure will go a long way to help me realize my dream,” Sotto explained. You have nothing to explain. As one writer has put it aptly: “Don’t put off living your dream until tomorrow; we are not guaranteed a tomorrow.” Go for it, Kai. Good luck and Godspeed. Our prayers will always be with you. nnn A WIFE was overheard asking her husband, “Honey, what’s your gift to me on our silver wedding anniversary?” The husband replied: “We will travel. I’ll take you to Paris so you can visit the Louvre Museum, the Eiffel Tower and the Notre Dame Cathedral.” The wife replied, “How sweet! How about on our golden anniversary?” The husband answered, “I’ll fetch you.” We should treat our public officials who love to junket the same way. The DBM should just buy them one-way tickets. nnn THIS is a true story. The President observed his 74th Birthday Anniversary just recently and I think that this story would make his day. Anyway, if he reads this, he can confirm it. I was invited as speaker not too long ago in an event attended by senior citizens. After the open forum that followed my talk, an

elderly woman approached me as I left the stage. She told me that since I am a member of the President’s officialdom, maybe she could convey her message to the President through me. She said she’s a solo mother with four kids in school sometime in 1999. During weekdays, she would take all her kids to school. The eldest, a girl, is in college and two were in the elementary grades and one in high school. After work at 4:30 p.m., she would fetch them from their schools and together they would travel home to Lagro Subdivision in her old Beetle. They would normally reach home at 7 p.m. One rainy evening while she was driving along the flooded Commonwealth area before the flyovers and the tunnel were built, she hit the island and she could not move her car forward or backward. The heavy downpour prevented them from leaving the vehicle and they just stayed inside the car, praying for help, with their emergency lights flashing. The place was pitch-dark, and suddenly an SUV stopped next to her stalled car. A man in business jacket, followed by four burly men, approached and knocked on her car. After finding out the problem, the guys slowly lifted her car and put it back on the road. The woman said: “I begged the man in jacket to please give me his name, and he mumbled: Congressman Duterte of the First District of Davao.” In a sincere voice, she told me, “The President has been called many names but as far as I know, he is a good guy. Please tell him that.” I hope President Duterte gets to read this. Belated happy birthday, Mr. President.

ADVERSARIES view small, midmarket businesses as soft targets

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

2nd Front Page BusinessMirror

A12 Tuesday, April 16, 2019

DFA chief explains Libya ban; PHL nurses staying put T

By Recto Mercene

@rectomercene

HE Department of Foreign Affairs (DFA) moved fast to ban deployment to Libya and raised the Alert Level to 3 primarily for the Filipino migrant workers’ safety, the country’s top diplomat explained on Monday. This, as he praised the calmness and courage of Filipino nurses who have opted to stay in their work places despite the multi-cornered deadly conflict in the oil-rich North African country. Foreign Affairs Secretary Teodoro L. Locsin Jr. was reacting to a report by the Philippine Embassy in Libya’s charge d’affaires, Elmer Cato, that he had visited Filipino

nurses in the hospitals where they worked, and all had opted to stay there. This was a repeat of a similar situation years ago, when Libyan health enterprises persuaded Fili-

“It’s Day 10 of the conflict but only 19 of 1,000 Filipinos in Tripoli want to go home. For Filipinos in Libya, the situation in Tripoli is normal despite the danger that looms from the intense battles raging just a few kilometers away.”—Cato

pino workers to stay behind, even offering them premium pay for the risks involved. “Rule No. I in DFA today: we never f . . ck around with our people’s safety.” Locsin tweeted, adding, “I will f . . you if you get in my way but

not our people.” He clarified that the ban on deployment is not a forcible evacuation. “It is a ban on further profits for assholes in government on the payroll of bad recruiters; like the ones who trafficked girls from southern Philippines.” As newspapers headlined “Libya forces battle for Tripoli despite UN truce calls,” Locsin said: “This is a real proxy war with different Middle Eastern countries taking sides for and against the government backing their own militias.” A netizen warned Locsin about his daughter’s concern for his use of expletives, but praised the DFA chief anyway. See “Libya,” A2

T-bills auction: Partial award, rejection on high rates By Rea Cu

@ReaCuBM

HE Bureau of the Treasury (BTr) received mixed results in its latest auction for Treasury bills (T-bills) on Monday, awarding P7.264 billion from the

P15 billion on offer, as the auction committee deemed rates higher than internal estimates. Deputy Treasurer Erwin D. Sta. Ana told reporters that the auction committee deemed the market rates for the 182- and 364-day T-bills too high, which led to the partial award

and full rejection, respectively. “The results are mixed. We...see that the demand is still skewed on the very short bill, which is the 91day. We made the full rejection on the 364-day because the committee actually deems it quite high at this level given the shortened work

week, and of course, the banks’ need for liquidity over the long holidays,” Sta. Ana said. Tenders for the 364-day T-bills amounted to P7.378 billion with the auction committee rejecting all bids. See “T-bills,” A2

www.businessmirror.com.ph

PALAWAN ELECTIONS IN LIMBO AFTER LAW SPLITS PROVINCE INTO 3 By Samuel P. Medenilla @sam_medenilla

& Bernadette D. Nicolas @BNicolasBM

HE upcoming midterm elections in Palawan now face uncertainty following the recent passage of Republic Act (RA) 11259 dividing it into three new provinces. The Commission on Election’s (Comelec) en banc is now in the process of deciding whether to push through or defer the midterm elections in Palawan. Relatedly, Malacañang is unfazed by the warning of Sen. Risa Hontiveros that Palawan’s split into three provinces renders it more vulnerable to aggression by China, which has long been muscling its way into the West Philippine Sea. Palawan is the closest Philippine province to the disputed waters in the South China Sea.

Comelec Spokesman James B. Jimenez said among Comelec en banc’s consideration for its decision on whether to push through with the May elections in Palawan will be the resources and effort they already dedicated for the polls in Palawan. “All the preparations, like the list of voters, are already ready. But the problem is the configuration on the ground suddenly changed,”Jimenez told reporters in an interview. “From one province, it will be three provinces each with its own list of voters and allocations,” he added. Another factor which will be crucial for the decision, Jimenez said, is the plebiscite they would have to organize in Palawan to implement RA 11259. “These should be taken into consideration by the en banc in deciding what the proper procedure moving forward is,” Jimenez said. See “Palawan,” A2

US Embassy closed on April 18-19

HE Embassy of the United States in the Philippines and affiliated offices will be closed to the public on Thursday, April 18, and Friday, April

19, for Philippine holidays. The Embassy and affiliated offices will resume regular services on Monday, April 22.

Editor: Efleda P. Campos

Companies BusinessMirror

Tuesday, April 16, 2019

PCC allows ₧6-B power CPG lists ₧3-B deal of AC Energy, Phinma bond at PDEx

By Lenie Lectura

@llectura

HE Philippine Competition Commission (PCC) has cleared the P6-billion power deal between AC Energy Inc. and the Phinma Group. AC Energy and the Phinma Group said separately that they received approval from the PCC for AC Energy’s acquisition of Phinma Inc.’s and Phinma Corp.’s combined 51.48-percent stake in Phinma Energy Corp. (PHEN). AC Energy is acquiring Phinma’s

stake via a purchase of secondary shares for approximately P3.42 billion. As part of the sale, AC Energy will subscribe to approximately P2.632 billion worth of primary shares of PHEN at par value, which will result in a total stake for AC Energy of

around 68 percent, subject to the conduct of a tender offer for the shares of PHEN’s minority shareholders. “PHN will sell 1,283,422,198 shares in PHEN to AC Energy, representing a 26.25-percent stake. PHI will likewise sell its 25.23-percent stake in PHEN to AC Energy. As part of the sale, AC Energy will also subscribe to approximately P2.632 billion worth of primary shares of PHEN at par value, which will result in a total stake for AC Energy of around 68 percent, subject to the conduct of a tender offer for the shares of PHEN’s minority shareholders,” they said in separate disclosures. The PCC said that upon review, “it finds that the proposed acquisition by AC Energy of shares in PHEN

will not likely result in substantial lessening of competition.” The commission approved the deal because, among others, “the transaction does not substantially increase the likelihood that the parties will engage in anticompetitive coordinated behavior with other power generators.” Moreover, the commission said the transaction “does not significantly strengthen the ability or incentive of the merged firm to engage in customer or input foreclosure” and that “competitive constraints remain from other players in the markets for power generation for bilateral contracts and the provision of Retail Electricity Supply services in Luzon and the Visayas.”

PAL sees passenger exodus to provinces, abroad during Holy Week 21, 2019,” she said. PAL has also tied up with Super Delights (Brownie Bites) and Super Crunch (Corn Chips) to provide snacks for passengers departing from NAIA Terminal 2 (International and Domestic) on April 15-21. “For any travel-related concerns, you may call PAL’s 24-hour Reservations hotline – 855-8888. Travel updates will also be posted on PAL’s Facebook page,” Villaluna said. “We wish all our countrymen a safe, peaceful and meaningful Holy Week break.” Recto Mercene

EGACY carrier Philippine Airlines (PAL) on Monday said it is anticipating a large volume of passengers traveling to the provinces and out of the country during this year’s Holy Week period (April 15 to 21). “Please be advised that due to heavy traffic around Naia’s four terminals, you must allocate more time in going to the airport to ensure that you will make it in time for your flight,” Spokesman Chielo Villaluna said. Domestic-bound passengers are advised to arrive at the airport at least 2.5 hours before their flight,

while international-bound passengers must be at the airport at least 3.5 hours before flight departure. “Please check your updated flight status and terminal assignment before heading to the airport by visiting www.philippineairlines.com/#PALflightstatus, clicking the Flight Status Tab in the PAL web site or by calling [02] 8558888 then pressing 2 for Arrival and Departure Information,” she said. She advises passengers to take note that flight information from Flight Status Tab is available two days before and until two days after the flight departure. “You may check in via our PAL web

site www.philippineairlines.com, or myPALapp within 24 hours to one hour before your flight,” she said. She told passengers to ensure that their passport is at least six months valid from date of travel “and that you have with you the required visa and other travel documents. Please bring a valid government ID, company or school ID.” “To delight you during this very busy travel season, PAL has partnered with Filipino fruit juice brand Locally to give free refreshments for passengers departing from Naia Terminal 2 [International and Domestic] and Clark Airport from April 15 to

NEW DOMESTIC ARRIVAL GANGWAY OPENED IN CLARK Passengers pass through the newly opened and renovated Domestic Arrival Gangway leading to the Baggage Claim Area of the Clark International Airport Domestic Arrival Terminal. Developed through funds allocated by the Bases Conversion and Development Authority, the gangway provides a more convenient and safer passageway for arriving passengers of domestic flights.

By VG Cabuag @villygc

ROPE R T Y d e v e l o p e r Cent u r y Proper t ies Group Inc. (CPG) on Monday listed its P3 billion in fixed-rate, three-year debt paper at the Philippine Dealing and Exchange Corp. (PDEx). CPG said proceeds of the bonds will be used to partially finance development costs for its affordable housing and townhome projects. The company initially targeted to raise P2 billion, and due to strong demand, exercised its oversubscription allowance of P1 billion. Because of the significant interest in the offering, the three-year unsecured fixed rate peso bonds due in 2022 were priced at the tighter end of the indicative spread at an interest rate of 7.8203 percent, the company said. China Bank Capital Corp. was picked as the issue manager, lead underwriter and bookrunner for the transaction. “We thank the investing public for giving us their trust and confidence in this highly successful bond issuance. It was the first corporate pesobond deal to price for 2019

and CPG’s first corporate debt capital deal since 2014,” said Marco R. Antonio, the company’s COO. “This marks a significant milestone for CPG as it continues to expand into various asset classes and diversif y its funding sources towards becoming a bigger and more profitable company,” it said. From being concentrated on developing high-rise condominiums, CPG rolled out its business expansion program five years ago to diversify into allied areas of real estate. In 2017, it launched its first affordable housing community in Tanza, Cavite, under the brand PHirst Park Homes. The brand has since launched two more communities in Lipa, Batangas, and San Pablo, Laguna, with a total of 33,000 housing units in the pipeline within the next four years to five years. CPG reported a 72-percent growth in its net income last year to P1.1 billion, with affordable housing contributing 23 percent of its net income. Its commercial portfolio will grow from 133,000 square meters to 300,000 sq m of gross floor area by the year 2020 with a target of P1.5 billion in revenues.

Companies BusinessMirror

Tuesday, April 16, 2019

PSE STOCK QUOTATIONS

April 15, 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 EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

58.5 132.1 80.7 26.65 11.8 77 13.54 52 57.4 25.9 177.6 60.85 1.3 2.16 18.48 4.48 1.39 0.445 800 0.91 181.5 1800 1.13

58.6 132.2 81.5 26.9 11.82 77.6 13.7 53.5 58 26.2 178.1 61.8 1.36 2.22 19 4.5 1.43 0.46 824.5 0.92 184 1820 1.15

58.65 132.3 82.7 26.7 12.08 77.95 13.7 53 58.6 26 178 60.9 1.3 2.19 19 4.55 1.39 0.45 824.5 0.95 182.8 1800 1.13

58.65 133.4 82.7 27.25 12.1 79.5 13.7 53.5 58.6 26 178.3 61.95 1.3 2.23 19.1 4.56 1.43 0.47 824.5 0.95 186.9 1800 1.14

58.5 131.7 80.7 26.7 11.8 77 13.54 49.3 57.4 25.9 177 60.9 1.3 2.16 18.9 4.43 1.37 0.45 824.5 0.92 181.1 1800 1.13

58.6 132.2 80.7 26.9 11.82 77 13.56 53.5 57.4 25.9 177.6 61.8 1.3 2.16 19 4.5 1.43 0.45 824.5 0.92 181.5 1800 1.14

6650 1524720 1987080 46800 835500 2849710 25600 3834030 640 2200 231490 2910 8000 24000 23600 27000 66000 290000 10 97000 360 170 21000

389683.5 201913137 161035201 1256690 9959190 223243138 349178 198530157.5 37048 57080 41149031 178775 10400 52010 448940 122050 91680 134200 8245 90440 66165 306000 23750

351600 -46197360 -33343452 -35165 -575600 -91629670 6850 -14026067.5 -29000 2590 -15836638 -28 2190 95000 4700 -46000 -

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 AGRINURTURE BOGO MEDELLIN 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 SWIFT FOODS UNIV ROBINA VITARICH CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.45 35.5 0.242 21.8 81.25 380 23.1 6.48 4.5 1.63 11.8 45.55 7.42 16 89.4 15.48 5.7 11.52 7.29 111.2 0.97 29.85 308.6 10.28 14.8 0.19 1.25 12.64 1.69 4.5 2.13 0.128 151.4 1.7 1.81 5.25 15.74 9.79 11 21.05 9.05 1.02 1.18 108.2 1.94 1.59 3.84 3.6 5.25 46.1 2.72 12.78 1.76 5.97 1.31 28.9

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 FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA PRIME ORION SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.55 19.7 907.5 56 14.96 6.4 0.77 1.39 1.41 7.6 11.88 14.86 0.233 857 6.91 61.25 5.07 0.5 5.15 15.62 0.55 2.75 4.55 0.039 2.94 1.34 590 922.5 173.7 1.01 265 0.24 0.37

1.47 35.8 0.247 21.85 81.95 381 23.15 6.5 4.58 1.64 11.94 46.8 7.45 16.14 96.95 15.6 5.84 11.6 7.31 112.7 0.98 29.9 310 10.42 14.82 0.195 1.26 12.8 1.7 4.71 2.18 0.135 151.5 1.72 1.82 5.5 15.84 9.8 11.02 21.2 9.39 1.04 1.19 118.8 1.95 1.69 3.86 3.7 5.5 46.5 2.74 12.8 1.81 6.34 1.35 29.4

1.44 36.3 0.244 21.8 82.35 378.4 23.3 6.45 4.4 1.66 11.66 45.95 7.56 16.04 89.4 15.74 5.92 11.6 7.25 112 0.96 30 310 10.56 15 0.19 1.38 12.6 1.69 4.6 2.26 0.129 157 1.74 1.95 5.23 15.9 9.78 11.02 21 9.15 1.05 1.23 108.2 1.95 1.74 3.84 3.69 5.2 47.5 2.81 13.06 1.77 6.42 1.33 29.4

1.46 36.3 0.248 21.85 82.95 384.8 23.45 6.56 4.58 1.68 11.94 47.5 7.6 16.14 97 15.8 6 11.76 7.31 115 0.99 31 312 10.56 15 0.19 1.4 13 1.69 4.6 2.26 0.129 159 1.74 1.98 5.23 15.96 9.9 11.1 21.5 9.15 1.06 1.23 108.2 1.99 1.74 3.84 3.7 5.25 47.5 2.81 13.08 1.82 6.42 1.39 29.4

1.43 35.5 0.242 21.6 81.25 378.2 23.15 6.42 4.4 1.61 11.62 45.55 7.45 16 89.4 15.5 5.7 11.54 7.25 110.8 0.96 29.9 305.8 10.28 14.6 0.19 1.2 12.6 1.69 4.5 2.18 0.128 151.4 1.7 1.82 5.23 15.74 9.78 10.96 21 9.15 1.02 1.16 108.2 1.94 1.59 3.84 3.69 5.2 46.1 2.7 12.8 1.74 5.96 1.31 28.9

1.46 35.5 0.247 21.85 81.95 380 23.15 6.48 4.58 1.64 11.94 45.55 7.45 16.14 97 15.6 5.8 11.58 7.31 112.7 0.97 29.9 310 10.28 14.82 0.19 1.26 12.8 1.69 4.5 2.18 0.128 151.4 1.72 1.82 5.23 15.84 9.8 11.02 21.05 9.15 1.03 1.19 108.2 1.94 1.59 3.84 3.7 5.25 47.45 2.74 12.8 1.81 6.35 1.35 29.4

380000 642000 660000 458100 70430 121770 282900 1171800 459000 39643000 512900 1434500 799300 479000 50 2644400 28200 1860100 222600 4404170 2604000 64900 1037610 10700 1171700 70000 36223000 279900 68000 3000 121000 1030000 583540 1697000 27542000 2400 254700 5683500 2344800 963300 1000 286000 2751000 100 262000 3000 103000 30000 88800 79200 5466000 427800 157000 4800 1491000 47700

551360 2900 23,002,895( 17,019,949.9996) 160770 73200 9945020 2576234.9999 5780466.5 -309368.5 46386406 -27975938 6578125 341130 7587626 -412252 2072560 -45000 65316210 -1579920 6079580 244230 66588845 49599690 5999665 2277 7707958 934092 4546 41469246 630454 164445 -96060 21609114 2917828 1616569 -1071937 493301711 -18575157 2538590 1950830 320423108 -135501712 110056 2088 17332518 6593038 13300 46297050 13322040 3575090 472610 114920 13600 -13600 266720 131880 89320969 -24412471 2915730 49590 51717510 -5301550 12552 4041914 55984774 -42173035 25,818,030( 4,871,184.0001) 20384350 -4886210 9150 295180 3250020 19220.0001 10820 511390 -0 5020 1740 395520 110950 464620 -9360 3761850 14962740 -212340 5519086 -428252 281340 28697 2022550 -13500 1396715 -270045

HOLDING & FRIMS 0.56 19.78 909 56.8 14.98 6.5 0.78 1.4 1.42 7.62 11.9 15 0.239 872 6.95 61.3 5.84 0.52 5.17 15.9 0.58 3.38 4.56 0.04 2.95 1.35 598 926.5 175 1.02 269 0.245 0.375

0.54 19.56 915 59 15.38 6.5 0.8 1.43 1.44 7.67 12.1 15.04 0.24 870 6.95 62.4 5.07 0.52 5.25 16.14 0.55 2.75 4.62 0.039 2.94 1.36 505.5 945 181.4 0.95 269 0.236 0.375

0.56 20 919 59 15.4 6.5 0.8 1.44 1.44 7.68 12.32 15.1 0.24 875 7.14 63.4 5.07 0.52 5.25 16.26 0.58 2.75 4.66 0.04 2.99 1.36 600 945 184 1.02 269 0.248 0.38

0.54 19.46 908 56 14.88 6.5 0.76 1.39 1.42 7.55 11.9 14.72 0.233 857 6.95 61.3 5.07 0.5 5.15 15.62 0.55 2.75 4.55 0.038 2.94 1.32 505.5 922.5 173.7 0.93 269 0.236 0.37

0.56 19.9 908 56 14.98 6.5 0.78 1.4 1.42 7.6 11.9 15 0.239 857 6.95 61.3 5.07 0.52 5.15 15.62 0.58 2.75 4.55 0.039 2.95 1.36 598 922.5 173.7 1.01 269 0.245 0.375

2069000 29600 206780 1215110 11692200 151100 430000 2007000 1315000 531700 2033200 544400 260000 110780 99900 730170 3000 122000 1136800 4610500 111000 10000 19162000 11500000 988000 20000 6290 166070 624860 3418000 30 580000 9500000

1130020 -112750 578188 188673910 -19888030 70022381.5 -43438237.5 176489632 -2165198 982150 585650 331520 -106260 2826780 1880730 1634490 4056697 631924 24,420,100( 14,875,323.9996) 8133226 -2043470 61340 95679505 -65290495 703899 354339 45199579.5 -13344274 15210 61040 5873351 -601516 73003920 -36914420 61350 55550 27500 87802040 -54387070 445100 2920490 442500 26840 3672950 1489935 153791640 -118173415 111104091 -2103225 3331060 128340 8070 2690 140310 3574750 -71750

PROPERTY

ARTHALAND CORP 0.81 0.82 0.78 0.82 0.78 0.82 2000000 1607010 AYALA LAND 46.8 46.85 46.4 46.9 46.4 46.8 25336300 1184186390 141463895 BELLE CORP 2.47 2.48 2.48 2.53 2.47 2.48 1945000 4860910 -737360 A BROWN 0.77 0.78 0.78 0.78 0.76 0.78 34000 26210 11700 CITYLAND DEVT 0.9 0.91 0.9 0.9 0.9 0.9 76000 68400 CROWN EQUITIES 0.24 0.244 0.24 0.244 0.24 0.244 990000 237640 CEB LANDMASTERS 4.27 4.32 4.31 4.33 4.21 4.31 366000 1571350 CENTURY PROP 0.495 0.5 0.53 0.53 0.49 0.5 51590000 26074110 -151000 CYBER BAY 0.385 0.395 0.385 0.395 0.385 0.385 1110000 429350 39500 DOUBLEDRAGON 23.65 23.7 23.4 24 23.4 23.7 659400 15649095 -893240 DM WENCESLAO 10.9 10.98 11.7 11.98 10.98 10.98 1560600 17582080 -117376 EMPIRE EAST 0.5 0.51 0.52 0.52 0.5 0.51 782000 397540 EVER GOTESCO 0.124 0.134 0.124 0.124 0.124 0.124 10000 1240 FILINVEST LAND 1.51 1.52 1.53 1.53 1.51 1.51 18817000 28541060 -7151300 GLOBAL ESTATE 1.34 1.35 1.4 1.4 1.33 1.34 5159000 6999420 301200 8990 HLDG 12.88 13 13 13.28 12.8 13 2509000 32604186 -14515978 PHIL INFRADEV 1.74 1.75 1.8 1.84 1.7 1.75 2152000 3767070 -26980 KEPPEL PROP 3.83 4.86 4.72 4.86 4.72 4.86 5000 24160 CITY AND LAND 0.81 0.85 0.87 0.87 0.8 0.85 215000 174990 61350 MEGAWORLD 5.71 5.79 5.77 5.79 5.68 5.79 14391500 82947440 18947205 MRC ALLIED 0.34 0.345 0.36 0.36 0.34 0.34 20650000 7127050 69000 PHIL ESTATES 0.5 0.51 0.53 0.53 0.5 0.51 1019000 518340 40000 PRIMEX CORP 2.49 2.5 2.59 2.59 2.48 2.5 654000 1631110 -25060 ROBINSONS LAND 22.8 23.75 23.7 24.1 22.8 22.8 3254500 76415005 -11303085 PHIL REALTY 0.42 0.435 0.435 0.435 0.42 0.42 70000 29550 ROCKWELL 1.99 2 1.99 2 1.98 2 65000 129480 -36000 STA LUCIA LAND 1.65 1.66 1.66 1.67 1.64 1.66 583000 966810 -129480 SM PRIME HLDG 38.95 39.2 39 39.5 38.9 38.95 6793300 265525410 -6425825 STARMALLS 6.95 6.97 6.85 6.97 6.74 6.95 318200 2173995 606690 SUNTRUST HOME 0.76 0.78 0.73 0.76 0.73 0.76 61000 45130 VISTA LAND 7.25 7.27 7.25 7.3 7.25 7.27 7968700 58027955 -49252220 SERVICES ABS CBN 19.34 19.42 19.98 20.1 19.3 19.34 141700 2768758 GMA NETWORK 5.29 5.3 5.35 5.4 5.28 5.3 1090300 5807955 MANILA BULLETIN 0.64 0.65 0.67 0.68 0.64 0.65 1134000 740780 GLOBE TELECOM 1880 1884 1891 1915 1879 1884 21655 40897225 2733060 PLDT 1158 1160 1183 1186 1160 1160 63785 74678495 -19325555 APOLLO GLOBAL 0.041 0.042 0.041 0.041 0.041 0.041 7700000 315700 DFNN INC 6.54 6.8 6.8 6.8 6.8 6.8 2000 13600 1360 ISLAND INFO 0.128 0.131 0.129 0.133 0.129 0.132 1240000 162370 ISM COMM 4.94 4.95 5.02 5.09 4.94 4.94 1098100 5,474,049( 1,345,194.0001) NOW CORP 2.26 2.27 2.42 2.42 2.25 2.27 2575000 6019310 -427960 TRANSPACIFIC BR 0.385 0.39 0.39 0.39 0.38 0.385 5230000 2013250 -3950 PHILWEB 2.84 2.85 2.95 2.95 2.8 2.85 669000 1914550 -16980 2GO GROUP 12.4 12.8 12.5 12.8 12.4 12.8 25400 320270 CHELSEA 5.2 5.27 5.31 5.31 5.2 5.2 578100 3024420 -93394 CEBU AIR 83.95 84 84.05 85 83.8 84 215200 18138499.5 -3380128 INTL CONTAINER 125.4 127 126 127 125.1 127 1276840 161424552 49931251 LBC EXPRESS 15.2 15.3 15.4 15.4 15.38 15.38 45400 699120 LORENZO SHIPPNG 0.91 0.93 0.94 0.94 0.91 0.92 397000 363720 -101200 MACROASIA 21.9 21.95 21.75 22.4 21.75 21.95 419400 9230250 1334095 METROALLIANCE A 1.7 1.8 1.69 1.8 1.67 1.8 79000 136260 METROALLIANCE B 1.7 1.97 1.7 1.7 1.7 1.7 3000 5100 PAL HLDG 10 10.08 10.1 10.1 10 10.08 34500 345728 HARBOR STAR 2.81 2.82 2.94 2.95 2.8 2.81 2866000 8257190 17580 ACESITE HOTEL 1.32 1.36 1.31 1.36 1.31 1.36 6000 8060 BOULEVARD HLDG 0.073 0.074 0.072 0.076 0.072 0.074 100860000 7499070 259200 GRAND PLAZA 10.22 10.98 10.12 10.12 10.12 10.12 100 1012 WATERFRONT 0.72 0.73 0.71 0.75 0.71 0.73 7209000 5276620 CENTRO ESCOLAR 7.06 8.07 8.12 8.12 7.03 7.03 1000 8008 FAR EASTERN U 890 895 890 890 890 890 150 133500 STI HLDG 0.68 0.69 0.69 0.69 0.67 0.68 1345000 911360 -800 BERJAYA 2.35 2.36 2.41 2.45 2.36 2.36 253000 607990 -21710 BLOOMBERRY 12 12.02 12.3 12.4 11.9 12 9421300 113221956 -20211408 PACIFIC ONLINE 4.3 4.45 4.49 4.49 4.3 4.45 63000 272880 21500 LEISURE AND RES 3.71 3.72 3.7 3.78 3.69 3.72 351000 1314440 3690 MANILA JOCKEY 4.41 4.8 4.79 4.79 4.41 4.79 11000 52310 PH RESORTS GRP 4.3 4.6 4.42 4.7 4.32 4.7 48000 211220 PREMIUM LEISURE 0.79 0.8 0.86 0.86 0.8 0.8 12911000 10672590 840200 TRAVELLERS 5.61 5.64 5.66 5.66 5.64 5.64 45000 254595 -17532 METRO RETAIL 3.41 3.42 3.46 3.5 3.4 3.42 910000 3129140 -61670 PUREGOLD 46 46.25 47.75 47.8 46 46 2955000 136532105 -51239020 ROBINSONS RTL 79.9 80 80 80 79.7 80 240130 19200327.5 -3382014.5 PHIL SEVEN CORP 119 120 120 120 120 120 81220 9746400 236400 SSI GROUP 2.6 2.62 2.51 2.71 2.5 2.6 43108000 113,054,280( 9,668,990.0003) WILCON DEPOT 16.12 16.18 16 16.44 16 16.18 4693500 76,200,720( 6,825,263.9999) APC GROUP 0.42 0.43 0.425 0.425 0.42 0.425 590000 248850 EASYCALL 10.24 10.26 10.5 10.66 9.98 10.24 70400 711770 GOLDEN BRIA 395.2 400 399.8 400 390.4 400 2930 1166440 IPM HLDG 7.06 7.07 7.07 7.07 7.07 7.07 13000 91910 PRMIERE HORIZON 0.99 1 1.02 1.02 0.98 1 14716000 14681260 -1632640 SBS PHIL CORP 8.94 9 8.7 9.03 8.7 9 41200 370552 MINING & OIL ATOK 11.32 12.86 12.88 12.88 12.88 12.88 100 1288 APEX MINING 1.32 1.33 1.29 1.32 1.29 1.32 4239000 5523080 37010 ABRA MINING 0.0019 0.002 0.0019 0.002 0.0019 0.002 3000000 5800 ATLAS MINING 2.83 2.98 2.87 2.87 2.83 2.83 833000 2372870 -11380 BENGUET A 1.31 1.46 1.27 1.31 1.27 1.31 11000 14010 BENGUET B 1.25 1.57 1.25 1.25 1.25 1.25 18000 22500 COAL ASIA HLDG 0.29 0.3 0.29 0.29 0.29 0.29 20000 5800 CENTURY PEAK 2.73 2.74 2.68 2.74 2.68 2.74 1003000 2725350 -8160 DIZON MINES 7.99 8.16 8.17 8.17 7.99 8.17 300 2433 FERRONICKEL 1.5 1.51 1.49 1.54 1.48 1.5 7679000 11656770 2836850 GEOGRACE 0.265 0.27 0.27 0.275 0.26 0.27 1850000 497950 LEPANTO A 0.118 0.12 0.117 0.119 0.117 0.119 1470000 174290 LEPANTO B 0.115 0.123 0.12 0.123 0.12 0.123 40000 4830 -3600 MARCVENTURES 1.07 1.11 1.08 1.11 1.08 1.11 105000 113860 NIHAO 1 1.05 1.04 1.07 1.04 1.05 40000 41980 NICKEL ASIA 2.35 2.36 2.41 2.45 2.32 2.35 3697000 8825080 -1631440 ORNTL PENINSULA 0.9 0.91 0.9 0.9 0.9 0.9 3030000 2727000 PX MINING 3.07 3.09 3.35 3.35 3.07 3.09 4019000 12914660 -240910 SEMIRARA MINING 23.8 23.85 23.35 23.85 23 23.85 1709900 40551445 5138320 UNITED PARAGON 0.0069 0.0075 0.007 0.0076 0.0068 0.0069 17000000 124000 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 6500000 78300 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 431500000 4746800 PHINMA PETRO 3.1 3.15 3.1 3.1 3.1 3.1 14000 43400 PXP ENERGY 6.8 6.84 7.56 7.56 6.7 6.84 6909600 48538457 -3244837 PREFFERED HOUSE PREF A 92.1 94.95 92.1 92.1 92.1 92.1 250 23025 AC PREF B1 467.2 478.2 466.4 467 466.4 467 1470 686190 DD PREF 96.15 98 98 98 98 98 20 1960 SMC FB PREF 2 970 981 975 975 970 970 980 951610 GTCAP PREF B 926 940 926 926 926 926 30 27780 MWIDE PREF 100.1 102.5 102.7 102.7 102.7 102.7 10 1027 PNX PREF 3A 100 100.9 100.5 100.5 100.5 100.5 500 50250 SFI PREF 1.45 1.7 1.45 1.45 1.45 1.45 1000 1450 SMC PREF 2B 75 75.7 75.9 75.9 75.7 75.7 380 28798 15140 SMC PREF 2C 75.75 76 76 76 75.75 75.75 15870 1204470 SMC PREF 2D 71.8 72.9 72.5 72.5 71.7 71.7 33800 2427771 SMC PREF 2E 72.75 73.5 72.65 72.65 72.65 72.65 2800 203420 SMC PREF 2F 74.1 74.7 74.7 74.7 74.7 74.7 1520 113544 SMC PREF 2G 73.75 74.25 73.75 73.75 73.75 73.75 150 11062.5 11062.5 SMC PREF 2H 72.5 73.7 72.35 72.35 72.3 72.3 370 26757 SMC PREF 2I 73 73.5 73.5 73.5 73.5 73.5 19950 1466325 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.2 5.15

19 5.23

19 5.52

18.06 5.23

19 5.23

44800 147400

830730 801595

WARRANTS LR WARRANT

1.9

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.76 XURPAS 1.16

1.94

1.9

1.95

1.87

1.94

97000

182990

4.86 1.18

4.7 1.2

4.9 1.21

4.7 1.16

4.9 1.16

88000 3514000

420970 4135080

66920

EXHANGE TRADE FUNDS FIRST METRO ETF

117

-303760 -

117.3

117.6

118.2

117

20310

2386089

8232

www.businessmirror.com.ph

IT-BPM industry bolsters 40% growth in Metro office market By Roderick L. Abad

Contributor

@rodrik_28

HILE some office buildings in major financial districts are not completed yet as scheduled, the overall inventory still grew by 3 percent with additional supply of 276,000 square meters (sq m) in the first quarter (Q1) of this year, mostly taken up by the information-technology and business process management (IT-BPM) industry. “The office sector had a strong start to 2019,” Pronove Tai International Property Consultants (PTIPC) President and CEO Monique Pronove said during their recent media briefing. Based on the Metro Manila Office Market Overview Q1 2019 report, the cities of Makati and Taguig continued to be the two largest office districts, accounting for 3.4 million sq m and 2.2 million sq m, respectively, of the total stock of 10.9 million sq m as of March 31, 2019. Meanwhile, the third-largest district Ortigas Center posted the fastest growth in the first three months of this year at 6 percent based on the completion of only one building—the Podium West Tower—with 94,000-sq-m office spaces. “Despite a 30-percent delay in construction delivery, the office supply in the first quarter was still 31 percent higher than the quarterly average in 2018. We projected 21 building completions this quarter but only saw 15 buildings delivered,”

Pronove said. The slowdown in building completion from January to March can be attributed to the cement shortage, PTIPC Research Manager Mike Munoz said. “If not immediately resolved, [it] can lead to further delays throughout the rest of the year,” he cautioned. “There is an expected annual demand of 32 million metric tons while we only locally produce 25 MMT to 27 MMT. The imposition of the temporary tariff on imported cement can lead to further delays.” From January to March 2019, a strong demand was recorded with 39-percent hike in actual transactions to 364,000 sq m from 260,000 sq m in Q1 2018. Sector-wise, the IT-BPM has remained the top tenant in major financial districts in the country, accounting for 36 percent or 130,000 sq m of the transactions in the first three months of this year. The industry mostly occupied office spaces in Taguig, making

SSI income recovers in 2018 despite lower store footprint

PECIALTY store retailer SSI Group Inc. on Monday said its income last year doubled to P608.43 million from the previous year’s P275.25 million as sales recovered. The company said sales for the entire year grew 10 percent to P20.23 billion from P18.46 billion. Sales in the fourth quarter of the year alone reached P6.4 billion, a 7-percent increase. Sales increases were achieved despite a 7-percent decline in the group’s total floor area, as it focused store openings on developed brands in developed locations. Revenue growth was driven by strong same-store sales growth, with SSG for the fourth quarter at 11.9 percent and SSG for full year 2018 at 12 percent. “The group’s fourth-quarter results were driven by resilient mid- and high-end discre-

tionary spending, as well as by a rationalized expense base. While we saw increased macroeconomic volatility in 2018, the group continued to leverage on the strength of its brand portfolio and store network,” said Anthony T. Huang, the company’s president. The SSI Group maintains a portfolio of 90 brands, which includes many of the world’s most recognizable brands, and a store network that is located in prime retail locations nationwide. The group’s store network also includes ecommerce properties of brands for Lacoste, GAP, Payless, Beauty Bar and Superga. The group also operates TWG and SaladStop! in the Philippines and will be opening the first Shake Shack in the country during the first half of 2019. VG Cabuag

$18-B electric-car bubble at risk of bursting in China

N iPhone assembler, e-commerce emporium and real-estate developer typically don’t compete in the same business - except when it comes to electric vehicles in China. That’s because of a seismic shift toward EVs, which has spurred billions of dollars in investments by traditional carmakers, startups and titans of the internet, electronics and real-estate industries. The rush is on even as the government pulls back on the subsidies that juiced the industry to begin with. There are now 486 EV manufacturers registered in China, more than triple the number from two years ago. While sales of passenger EVs are projected to reach a record 1.6 million units this year, that’s likely not enough to keep all those assembly lines humming, prompting warnings that the ballooning EV market could burst and

leave behind only a few survivors. “We are going to see great waves sweeping away sand in the EV industry,’’ said Thomas Fang, a partner and strategy consultant at Roland Berger in Shanghai. “It is a critical moment that will decide life or death for EV startups.’’ At least two dozen of those electric-car brands will be showcasing models at the Shanghai auto show starting this week. They range in expertise from nascent supercar maker Qiantu Motor to U.S.-traded startup NIO Inc. and elder statesman BYD Co. Dozens of startups have entered the global EV business in recent years, raising $18 billion since 2011, according to BloombergNEF. Most of the biggest fundraisers are Chinese, including NIO, WM Motor, Xpeng Motors and Youxia Motors. Bloomberg News

it the top location in terms of demand share for Q1 at 31 percent or 113,000 sq m. The second-top occupiers were traditional offices at 35 percent, followed by the Philippine Offshore Gaming Operators (Pogos) at 29 percent. Pogo demand rose by 118 percent year-on-year. From taking up 48,000 sq m in Q1 2018, this sector absorbed 106,000 sq m during the same period this year. “Pogo’s leasing behavior has evolved into pre-leasing [leasing before the building has been completed] to match their requirements. Since there is very limited available space in Makati and Bay Area, they have already ventured into locations such as Pasig and Parañaque,” Pronove said. Office vacancy in the metropolis is constantly manageable as the level of availability stands at 6 percent as of end-March 2019. “We consider 5 percent to 7 percent as the manageable vacancy for the office sector—just suitable allowance for expansion and growth for the companies within the building or the district,” the top executive said. The highest vacancy could be found in Quezon City (12 percent) and Mandaluyong City (11 percent). Meanwhile, Ortigas Center, Taguig City and Muntinlupa logged a healthy 7 percent. Makati City and Bay Area, however, had the tightest vacancy

MUTUAL FUNDS

registering only 3 percent and 1 percent, accordingly. When it comes to rental rates, the report shows Makati continued to have a 21-percent premium at an average of P1,590 per sq m on a monthly basis for All Grade A office buildings, or an 8-percent rental growth YoY. Taguig City surged 9 percent to P1,320 per sq m a month and Bay Area at 2 percent to P960 per sq m a month. Pronove said the 40-percent office demand growth is “a good thing for the industry.” But for IT-BPM, she suggested a constant upgrade toward high-value services in the knowledge-process outsourcing subsector. “This will help make our country competitive and enticing to IT-BPM investments,” she said. “We continue to call on the government to fast-track Philippine Economic Zone Authority proclamations.” Founded in 2002, Pronove Tai is a fully owned Filipino propertyservices firm that provides expertise and quality services that include research and consultancy, landlord and tenant representation, property sales and purchasing, and property portfolio management. To date, the company has had P13 billion worth of transactions in different market sectors, such as office, retail, industrial and petrol with over 1.2 million sq m of leasable space transacted.

April 15, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 262.63 -4.11% 0.75% 1.51% 4.12% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6197 0.06% 8.84% 3.53% 12.42% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0976 -5.46% 0.94% 0.36% 4.99% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9416 -0.83% N.A. N.A. 5.74% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8647 N.A. N.A. N.A. 5.36% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4854 -2.15% 0.82% 1.3% 4.07% MBG EQUITY INVESTMENT FUND, INC. -A 128.3 8.74% N.A. N.A. 10.17% ONE WEALTHY NATION FUND, INC. -A 0.874 -4.95% -4.32% N.A. 5% PAMI EQUITY INDEX FUND, INC. -A 51.9096 -1.67% 1.59% N.A. 5.5% PHILAM STRATEGIC GROWTH FUND, INC. -A 541.99 -1.88% 0.57% 1.23% 5.29% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3096 -1.07% 2.2% 4.17% 4.43% PHILEQUITY FUND, INC. -A 38.6497 -1.19% 3.1% 3.57% 5.51% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0335 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2559 -1.64% 2.54% 3.61% 5.99% PHILIPPINE STOCK INDEX FUND CORP. -A 877.27 -1.52% 2.23% 3.55% 5.89% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9273 1.16% 1.37% N.A. 7.68% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3077 -0.4% 2.58% 2.59% 6.13% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0087 -2% 2.23% N.A. 5.7% UNITED FUND, INC. -A 3.7071 0.61% 4.25% 3.53% 5.89% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.3697 -1.13% 3.28% 4.63% 5.98% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.037 -7.32% 6.79% 1.56% 11.61% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2864 1.28% N.A. N.A. 16.41% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7174 -3.04% -0.64% -1.25% 4.01% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3094 -2.37% 0.91% 0.88% 4.54% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6363 -1.1% -0.71% -1.16% 3.64% GREPALIFE BALANCED FUND CORPORATION -A 1.3513 -3.26% N.A. N.A. 3.6% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9133 -0.13% 0.98% 1.49% 3.81% PAMI HORIZON FUND, INC. -A 3.6674 -2.23% -0.33% 0.59% 3.91% PHILAM FUND, INC. -A 16.5532 -1.14% -0.18% 0.64% 4.06% SOLIDARITAS FUND, INC. -A 2.138 -0.79% 1.38% 2.25% 3.17% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8427 0.24% 1.25% 1.69% 5.24% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9956 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9938 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.992 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9798 0.63% 1.23% N.A. 6.3% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03601 1.84% 0.35% 1.43% 2.16% PAMI ASIA BALANCED FUND, INC. -A $1.0011 -5.86% 3.8% -0.23% 6.93% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7059 1.09% 6.1% 3.18% 12.01% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0907 0.05% N.A. N.A. 7.99% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.56 2.8% 2.12% 2.12% 1.22% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8816 0.64% -0.19% -0.27% 1.2% COCOLIFE FIXED INCOME FUND, INC. -A 3.0134 5.42% 5.22% 5.29% 1.43% EKKLESIA MUTUAL FUND INC. -A 2.1558 2.25% 1.26% 1.78% 1.19% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2537 1.74% 0.33% 0.89% 2.01% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6025 0.21% -0.35% 0.3% 2.44% PHILAM BOND FUND, INC. -A 4.0201 0.58% -0.59% 0.75% 2.56% PHILEQUITY PESO BOND FUND, INC. -A 3.6026 3.24% 1.44% 1.18% 2.43% SOLDIVO BOND FUND, INC. -A 0.9179 0.38% -0.66% N.A. 2.83% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8806 3.93% 1.73% 1.78% 4.15% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5974 3.43% 0.93% 1.3% 3.73% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $453.94 2.4% 1.73% 2.83% 1.26% ALFM EURO BOND FUND, INC. -A Є216.09 1.37% 1.42% 1.59% 1.62% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1657 4.23% 1.51% 2.24% 3.54% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0252 1.61% 0.67% N.A. 1.61% GREPALIFE DOLLAR BOND FUND CORP. -A $1.713 -1.13% -1.43% 0.88% 1.35% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.062 1.45% -0.75% -2.41% 2.35% PHILAM DOLLAR BOND FUND, INC. -A $2.2553 2.75% 0.24% 2.77% 3.87% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.058085 2.4% 1.12% 1.77% 1.94% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9739 0.97% -0.28% 2.09% 3.54% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.3 3.4% 2.16% 1.76% 1.21% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0075 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1952 2.71% 1.14% 0.75% 1.13% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2333 3.23% 2.47% 1.84% 1.17% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.023 2.07% N.A. N.A. 0.7% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018.

********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

The World BusinessMirror

www.businessmirror.com.ph

Mahathir says Chinese firm will help run new rail link

UTRAJAYA,Malaysia—Prime Minister Mahathir Mohamad said on Monday a Chinese company building a rail link across peninsula Malaysia will jointly help to manage, operate and maintain the network that will help reduce the country’s financial burden. The East Coast Rail Link was suspended after Mahathir’s alliance swept into power last May, a decision that strained Malaysia’s relations with China, its largest trading partner. The project was revived last week after the contractor, stateowned China Communications Construction Co. Ltd., agreed to cut the cost by one-third to 44 billion ringgit ($10.7 billion). The rail link connecting Malaysia’s west coast to eastern rural states is a key part of China’s Belt and Road infrastructure initiative. Mahathir said on Monday the government chose to renegotiate the deal rather than pay compensation of 21.78 billion ringgit ($5.3 billion). He said the fact that the project cost can be reduced sharply by 21.5 billion ringgit ($5.2 billion) showed that the cost had been inflated when former Prime Minister Najib Razak’s government awarded the main contract to CCCC in 2016. The rail project will now cost 68.7 million ringgit ($16.7 million) per kilometer, down from 95.5 million ringgit ($23.2 million) previously, he said. Under the new deal, Mahathir said CCCC will form a 50:50 joint venture company with Malaysia Rail Link to provide technical support and share the operational risk. He said CCCC’s involvement as rail operator will help attract Chinese investment along the rail link corridor. CCCC has also agreed to refund part of a 3.1 billion ringgit ($753.4 million) advance payment, with 1 billion ringgit ($243 million) to be paid over the next two months, he said. Although the rail project will be shortened by 40 kilometers (24.8 miles) to 648 kilometers (402.6 miles), he said the double-track line will have 20 stations and cut through five states, instead of four previously. He said the new alignment will also mean avoiding having to tunnel through a mountain range in central Selangor state, which is the longest pure quartz dyke in the world. The project, which is now slated for completion by the end of 2026 instead of 2024, is largely financed by China. Mahathir said the government is still negotiating the loan amount with China’s EXIM Bank but that it will be reduced substantially and this will result in paying less in interest on the loan. He said the government is also “taking advantage of the agreement to work out the purchase of palm oil by China,” but didn’t give further details. Officials said work on the rail link could resume by next month. Mahathir’s government has axed or reviewed large-scale infrastructure projects to rein in surging national debt that it blames mostly on corruption in the previous government. Apart from the rail link, the government last year also canceled two China-backed pipelines costing 9.3 billion ringgit ($2.3 billion) after discovering that 90 percent of the project’s costs had been paid but only 13 percent of work had been completed. The government has said it is investigating whether any money in the rail project had been channeled by Najib’s government to repay debts at the 1MDB state investment fund. A massive financial scandal at 1MDB led to the election loss of Najib’s coalition last May and Najib is currently on trial for multiple corruption charges linked to 1MDB. AP

Editor: Angel R. Calso • Tuesday, April 16, 2019

China, Japan tout ‘recovered’ ties amid global uncertainty

EIJING—China and Japan have the opportunity to “take charge of the economic field” during a time of worldwide uncertainty, Japan’s foreign minister said on Sunday, as trade pressures from the United States have prompted both countries to seek alternative markets. Foreign Minister Taro Kono met with his Chinese counterpart, Wang Yi, in Beijing to discuss youth exchanges and economic relations between the two countries, whose ties “completely recovered” last year, according to Kono. The relationship was turbulent in previous years due to an unresolved dispute over islands in the East China Sea. High-level exchanges were frozen in 2012 after Japan nationalized the small group of remote islands claimed by Beijing. The act set off violent protests in China and sent Japanese investment and tourism into a nosedive. Trade and investment have since rebounded, and companies from the two nations are considering joint projects in third countries such as Thailand. While “the current economic situation is complicated and profoundly changing,” Wang said, “Sino-Japanese economic coopera-

tion is constantly advancing at a solid pace.” China and the US said a week earlier that they achieved new progress in talks aimed at ending a tariff standoff over Beijing’s industrial and technology policies. A conclusion to the dispute, which has shaken financial markets, remains uncertain. Two issues at the center of ChinaUS trade frictions—forced technology transfer and intellectual property—were raised by the Japanese delegation on Sunday, said Japanese Foreign Ministry Spokesman Takeshi Osuga. Osuga told reporters at an evening news briefing that the Chinese side noted that Chinese tech giant Huawei’s activities in Japan have been affected by certain policies. To this, Kono responded that Japan has never taken any measure with the objective of excluding any company or product, Osuga said.

JAPANESE Foreign Minister Taro Kono (left) and China’s Foreign Minister Wang Yi, attend an opening ceremony for the Japan-China year of youth exchange at Diaoyutai State Guesthouse in Beijing, China, on Sunday, April 14, 2019. JASON LEE/POOL PHOTO VIA AP

Several countries have expressed concerns over Huawei, which the US has accused of being controlled by China’s ruling Communist Party and thus obliged to spy on its behalf. Huawei maintains that it would say no to requests from the Chinese government for confidential information about foreign users of its technology. Japan’s cyber-security agency says suppliers deemed high-

Iraq seeks to reclaim status, leadership role in Arab world

AGHDAD—After decades of conflict, Iraq is seeking to reclaim a leadership role and status in the Arab world with a centrist policy and a determination among the country’s top leaders to maintain good relations with both Iran and the United States. A flurry of recent diplomatic activity and high-profile visits to the Iraqi capital, including this month’s reopening of a Saudi Consulate in Baghdad—for the first time in nearly 30 years—points to a new era of openness as the nation sheds its war image and reengages with the world. “Iraq is coming back to the neighborhood,” President Barham Salih told The Associated Press in a nearly hour-long interview last month. The veteran politician laid out a vision centered on an “Iraq First” policy, saying his country can no longer afford to be caught in regional disputes. “For almost four decades Iraq was the domain in which everybody pursued their agenda at the expense of the Iraqi people. It’s time we say we need a new political order...in which Iraq must be an important pillar,” Salih said. Iraq has emerged from a ruinous three-year war against the Islamic State group and faces the mammoth task of reconciling, rebuilding and returning tens of thousands of displaced to their homes. And while the extremists’ territorial “caliphate” has been defeated in Iraq and Syria, the militants have now shifted to an insurgency campaign of targeted assassinations, car bombings and suicide attacks. The issue of Iran-backed Shiite militias who fought IS alongside Iraqi security forces poses a challenge to the government’s central authority, and the country’s oil-based economy is suffering from wide-scale corruption.

IN this March 11, 2019, file photo, Iraqi President Barham Salih (right) walks with visiting Iranian President Hassan Rouhani, before their meeting at Salam Palace in Baghdad, Iraq. Iraq is seeking to reclaim a leadership role in the Arab world after decades of conflict. It is focusing on a centrist policy and its top leaders are determined to maintain good relations with both Iran and the United States. AP PHOTO/KHALID MOHAMMED

“Iraq’s path to reclaiming a leadership role in the Arab world will depend on how successful its leaders are in tackling security and economic challenges at home,” Randa Slim, a senior fellow at the Washington-based Middle East Institute wrote recently. Amid rapidly escalating tensions between the US and Iran, Iraq also needs to maintain a delicate balance with the two as Baghdad has strong ties with both countries. The dynamics are complex. The Shiite-majority country lies on the fault line between Shiite Iran and the mostly Sunni Arab world, led by powerhouse Saudi Arabia, and has long been a theater in which Saudi-Iran rivalry for regional supremacy played out. Relations have been particularly frosty with Riyadh, which broke relations with Baghdad following Saddam Hussein’s invasion of Kuwait in 1990 and never really warmed much as Iraq was increasingly pulled into Iran’s orbit in later years.

Iraq needs much help and investment to rebuild its cities—something it can only get from oil- and gas-rich Gulf countries, including Saudi Arabia. But it can also ill afford to alienate Iran, which holds enormous political and military sway in Iraq through powerful militias and pro-Iran politicians. “We have 1,400 kilometers of borders with Iran, we simply cannot ignore that reality,” Salih said, adding that it’s in Iraq’s national interest to nurture good relations with Iran, with which Iraq fought an eight-year war in the 1980s. He said Iraq, however, was also keen on good relations with Turkey, Saudi Arabia and other regional countries. Mindful of the need to counter Iran’s growing influence in the region in the post-IS order, Saudi officials have sought closer ties with Iraq, and last week sent a high-level delegation to Baghdad where the kingdom’s consulate was inaugurated. AP

risk, including Huawei, will be excluded from government purchases. Meanwhile, Japan’s exports have suffered as a result of slowing Chinese growth. China is Japan’s largest trading partner, and Japanese companies—from carmakers to department stores—play a major role in the Chinese economy. President Donald J. Trump has also imposed tariffs on imported

steel and aluminum from Japan, and threatened automobile tariffs that would leave Japan among the hardest-hit. Kono said on Sunday that Chinese President Xi Jinping will likely visit Japan this year. Japanese Prime Minister Shinzo Abe’s visit to China last fall was the first formal visit to Beijing by a Japanese leader in nearly seven years. AP

Increased drilling activity in US stops longest oil rally

IL started the week on a softer note after completing its longest run of weekly gains in three years as a report showing increased US oil-rig activity took some heat out of the rally. Futures in New York fell as much as 0.8 percent after climbing more than 14 percent over the previous six weeks. The number of working rigs targeting crude in the US rose for a second week following six weeks of declines, according to data on Friday from oilfield services provider Baker Hughes. Crude fell even as Asian stocks rose to a six-month high on Monday after earnings and Chinese economic data eased concerns about an economic slowdown. Crude has rallied around 40 percent this year as the Organization of the Petroleum Exporting Countries and its allies cut production, while unplanned supply losses from Iran, Venezuela and Libya further tight-

ened the market. The demand outlook remains shaky, with the International Monetary Fund (IMF) last week cutting its 2019 global growth forecast to the lowest in a decade and the International Energy Agency warning it could reduce its demand projections. “In the short term, the decline in crude prices reflects the increasing rig count and the IMF’s grim outlook for the global economy, but it was also caused by profit-taking,” said Takayuki Nogami, the chief economist at Japan Oil, Gas and Metals National Corp. in Tokyo. It’s too early to say the rally is over amid supply disruptions in Libya and elsewhere, he said. West Texas Intermediate for May delivery fell 24 cents, or 0.4 percent, to $63.65 a barrel on the New York Mercantile Exchange as of 7:39 a.m. in London, after dropping as much as 48 cents earlier. The contract advanced 1.3 percent last week. Bloomberg News

Finland voters eject austerity govt as leftists win election

FTER the tightest election in over half a century, Finland looks set to get a more leftleaning government as voters rejected years of austerity. Former trade unionist Antti Rinne is poised to become Finland’s first Social Democrat prime minister in 16 years, winning by fewer than 7,000 votes. But he faces a tough set of coalition talks, after the ultra nationalist Finns Party emerged as the second biggest, beating the establishment conservative National Coalition for the first time. The Center Party of outgoing Prime Minister Juha Sipila suffered a bitter defeat as voters punished his tough labor-market policies and failed health-care reform. “The top 3 are so close to each other that it’s going to make government talks quite difficult,” said Laura Nordstrom, a researcher at the University

of Helsinki. “This was clearly a protest vote, the opposition gained lots of votes and the Finns Party can be interpreted as a protest.’’ A recount in the Satakunta region could still sway the result: 102 more votes for a Center Party candidate would deny a seat to the Social Democrats, evening out the numbers to 39 each for Rinne’s group and the Finns Party, Iltalehti reported. The final confirmed results are expected on Wednesday. The 56-year-old Rinne has promised to end four years of policies that included wage cuts and longer working hours. Sipila, who had resorted to those measures in an effort to drag the euro zone’s northernmost economy out of a deep recession, suffered a fatal blow to his popularity earlier this year when he failed to pass a vital package of bills needed to reform health care. Bloomberg News

B4 Tuesday, April 16, 2019

IT’S AN ‘EGGSTRAVAGANT’ CELEBRATION THIS EASTER AT MIDORI CLARK MARRIOTT CAFÉ’S UNLIMITED LOBSTER IS BACK EVERY TUESDAY

ELEBRATE Easter Sunday with a bountiful food selection and some fun-filled treats for kids on April 21, as Midori Clark hotel and casino holds an “EGGstravagant” Easter buffet at Toscana Dining. Let your family feast on an array of food choices with a special buffet prepared for the Easter gathering, after the days of fasting and abstinence. The buffet features all-time international favorites along with seafood buffet as this month’s theme. The EGGstravagant Easter buffet starts from 11 a.m. to 2 p.m. for brunch and from 6 to 10 p.m. for dinner. Priced at P1,199+ for adults and P600+ for kids. First 100 paying kids get a special Easter basket, which includes goodies, candies, chocolates and definitely eggs! Plus, it’s going to be “egg-stra” fun as gift vouchers and treats await kids from our partners. The EGGstravagant Easter buffet is in partnership with Fly Supply Online, Lemon Square Whatta Tops, Building Blocks International Academy, Ovaltine, Zoocobia and Snackeroo.

Still have no plans before Easter? Book for your family retreat this Holy Week! Stay at a superior room from April 14 to 16 for only P5,500 net/night, on our flash sale promo! This comes with a buffet breakfast for two, use of hotel amenities and scheduled shuttle service. The promo is noncancellable and not applicable for group bookings. Get ready and power up as we hop on the Easter fun! For reservations, e-mail at marketing@ midorihotel.com. Be updated with Midori Clark’s promos and events! Visit www.midorihotel.com.

YOUR NEXT PLACE CLOSEST TO HOME

HE One Pacific Place Residences is a high-rise hotel that is conveniently situated at the Makati City central business district. It is a haven within the bustling commercial area wherein you can have a relaxing stay. Beyond the strategic location of Salcedo Village, guests will delight in the excellent customer service of the staff and updated hotel facilities. Take advantage of the weekend promos on spacious suites when you book. For as low as P3,850 net for a one-bed premier room, you will get an elegant room inclusive of buffet breakfast for two persons at the Strand Café. That is 65-percent savings from the regular room rates. Got any plans this Easter? Why not treat your family to a relaxing stay with their best offer for Easter? If you stay for two consecutive nights from April 14 to 22, you will get a third night for free through a gift voucher. The studio room rate for two nights is only P6,500 net, which includes buffet breakfast for two persons at the Strand Café. You will also get welcome Easter goodies. This will be a fun and enjoyable Easter when you take advantage of the promotion.

can have slabs of it grilled to your liking. If you’re craving for a taste of home, the Filipino station offers local dishes, like kare-kare and bulalo. At the corner is a noodle bar where you can have your own wok fry or soup noodle. Of course, your dining experience would not be complete without a scoop of Marriott Café’s signature gelato and other decadent desserts with sugar-free options to choose from, too!

Marriott Café’s extends half the price during lunch and dinner buffet every Monday for all. Now that’s a great news! You can have lunch buffet for only P1,050 per person and dinner buffet for only P1,150 per person. Don’t let this fancy offer just swim by—snatch a seat right away. For reservations and inquiries about Manila Marriott’s latest offers, visit www. manilamarriott.com.

SUN LIFE PROSPERITY CARD NOW AVAILABLE AT 1K

I You can just relax by the pool, exercise in the fitness room, lounge in your room, dine at the Strand Café or simply do an experiential walk in Salcedo Village. Every experience is unique. Your family and friends will love the moments you shared together. One Pacific Place Serviced Residences is at 161 HV de la Costa Street, Salcedo Village, Makati City. For booking or inquiries, you may e-mail at info@ onepacificresidences.com. You may book directly on to their web site to check availability of rooms at https:// www.onepacificplaceresidences.com.

‘BUNNY BOP EASTER EGGVENTURE’ AT WIDUS CLARK

ATHER your loved ones and make this year’s Easter weekend more memorable as Widus hotel and casino offers a festive “Bunny Bop Easter Egg-venture” family activity. Be in your cutest costume and hop on over to Widus Tower Two Garden on April 21, where “egg-citing” treats and wonderful surprises await all kids and kid at heart. Power up for a day filled with fun games, delightful goodies and interactive activities, like an amusing parade of costumes and a thrilling egg hunt. Play and egg-splore with the whole family for only P599/net per kid and P399/net per accompanying adult. The kiddie event ticket is inclusive of a loot bag, morning snacks, access to the egg-hunt activity and photo booth. Add 350/net per person to unwind and enjoy a refreshing day at the pool with the whole family. Further the occasion and make the family weekend “egg-stra” special when you book a pleasurable staycation

OBSTER is one of the ocean’s most expensive treasures and, once again, Marriott Cafe is adding it to its buffet spread! Every Tuesday for the whole month of April, feast on to unlimited serving of this bona fide luxury item every lunch and dinner for only P3,000 net per person, on top of the already incalculable array of international cuisines! Known for its tender meat and fairly sweet flavor, Canadian lobsters cater to discerning tastes and are flexible for any cooking style. Enjoy it in a myriad of ways—boiled, grilled, sauced or however you want it, crack it open and savor the sinful lobster fat and its silky, mouthwatering meat. If you are quite new to lobster indulgence, trust their chefrecommended specialty dishes, like the Lobster Thermidor, a French classic that has a creamy stuffing mixture of its meat generously covered with oven-browned cheese. For a highly flavorful dish, have the garlic lobster flambéed in white wine or go simple and taste its natural flavor with lemon-grilled lobsters. While you enjoy your lobsters, don’t forget, there are more dishes you can feast on! Beside is the carving station where the majestic steak rests and where you

at Widus Hotel. With rates starting at P5,800 per night, enjoy an overnight accommodation in one of the hotel’s relaxing rooms, buffet breakfast at Salt Resto for two, two tickets to the Bunny Bop Easter event, access to the hotel’s facilities and use of standard amenities. For inquiries and reservations, visit www.widus.com.

N keeping efforts to make investing i n mut u a l f u nd s e ven more accessible to Filipinos, Sun Life Asset Management Co. Inc. (Slamci) is launching a new variant of its Sun Life Prosperity Card at only P1,000. A first in the industry, the Sun Life Prosperity Card is a stored-value gift card that may be used to invest in pesodenominated mutual funds managed and distributed by Slamci. It may be

purchased for personal use or as a gift to loved ones. “The Sun Life Prosperity Card is a lasting and precious gift option ideal for special occasions, such as birthdays, baptisms, graduations and weddings,” said Slamci President Valerie Pama. “It enables the recipient to have his own starter mutual fund with a value that potentially appreciates over time.” Also available at P5,000, the Sun

DEPED CITES CHINA BANK SAVINGS FOR EDUCATIONAL PROJECTS

HE Department of Education (DepEd) hails the China Bank Savings (CBS) for programs that promote financial wellness among teachers and improve the quality of public education in the country. The DepEd recognizes the bank for its nationwide CBS financial-wellness road show for public-school teachers and staff; the CBS-DepEd Venture 2.0, or “Alay sa mga Guro” for the benefit of DepEd Region 3 employees; and contributions to the Brigada Eskwela campus rehabilitation and Nutrition Month campaigns of the government. The CBS also promotes savings consciousness and bank participation among kids and teens through the Financial Wellness for Young Filipinos program; and supports a grassroot literacy project among the indigenous Remontado Dumagat people in Rizal province through Project RED. T he CBS is a du ly accredited automatic payroll deduction salary (APDS) private lending institution of the DepEd. Last year CBS was able to lend out to 20,400 DepEd employees. 9 percent of the loans were used in education, 2 percent for medical and hospital expenses, 20 percent for

housing improvements and 65 percent for general needs. The CBS, the thrift-bank arm of the China Bank Group, operates a nationwide network of 162 branches. The bank has 21 APDS business centers supported by 64 CBS branches dedicated to loans and services for teachers and DepEd’s nonacademic employees. E du c at io n S e c re t a r y L e o nor Magtolis-Briones (in photo, fourth from left) presents the certificate of

‘EGGSPLORE’ A FAIRYTALE ADVENTURE AT E.K.

COLORING THE WORLD FOR AN ‘A-OK’ PHILIPPINES In celebration of the World Autism Awareness Day, more than 500 children with autism, together with their parents and companions, participated in the “Color It A-OK” activity recently held at the music hall of the SM Mall of Asia. The kids with autism colored a drawing pad measuring 860 square feet, which hopes to send a message of acceptance and appreciation for all persons with autism. The event was organized by the Autism Society Philippines, supported by SM Cares and SM Mall of Asia.

Life Prosperity Card is available for purchase at major Sun Life Client Service Centers or through a Sun Life financial advisor. The card may be activated at any Sun Life client-service center nationwide. To know more about the Sun Life Prosperity Card and the Sun L i fe P ro s p e r it y Fu nd s , con s u lt a Su n L i fe f i n a nc i a l adv i sor or visit sunlifefunds.com.

IVE your kids a chance to test their skills and explore their capabilities with our Easter Sunday festivities! Enchanted Kingdom presents “EGGsplore: A Fairytale Adventure” with free entrance to all kids up to 12 years old, dressed up in Easter or fairytale-/ royalty-inspired costumes—princess, wizard or bunny—as long as you work on your outfit! Be one of the first 100 kids to register, so you can participate in shows and activities, such

as Easter egg hunt, Cenakulo Rock Kids, Chubby Bunny challenge, Jazz Up Your Easter Egg and Easter costume contest. Waste no time and head on to the group sales office of Enchanted Kingdom in Santa Rosa to register from 10 a.m. to 12 noon on April 21. Dress your best and you’ll be blessed! Plan your trip accordingly and make the most of Sunday’s best! Visit www. enchantedkingdom.ph for updates.

appreciation to CBS-APDS lending group head Niel C. Jumawan (fifth from left) in the recent national recognition ceremony at the Bulwagan ng Karunungan, DepEd Complex in Pasig City. Others in the photo are (from left) DepEd officials Dove Dinah Cometa and Zeny Lastimos, Education Undersecretary Tonisito MC Umali, Esq., and CBS officers Joyce J. Vicente and Dave Libunao of the APDS Lending Group.

Sports TIGER’S BACK , WITH A BIG BusinessMirror

| Tuesday, April 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Doug Ferguson

BIG ROAR!

The Associated Press

UGUSTA, Georgia—Tiger Woods blazing to victory in his Sunday red at the Masters, a scene once so familiar, was never more

stunning. It was only two years ago at Augusta National that Woods needed a nerve block just to hobble upstairs to the Champions Dinner, unsure he would ever play another round of golf. He had a fourth back surgery with hopes of simply playing with his two children, not chasing Jack Nicklaus in history. And now it’s all pieced back together—his life, his back, even golf. A fallen hero, a crippled star, Woods is a Masters champion again. He won his fifth green jacket, his 15th major, but never with this much raw emotion. The most ferocious fist pump was when he walked off the 18th green, scooped up 10-year-old son Charlie, and embraced his mother and his 11-year-old daughter Sam. “For them to see what it’s like to have their dad win a major championship, I hope that’s something they will never forget,” Woods said. Who can ever forget this day? “It’s hard to really feel bad about how I played because I just witnessed history,” said Xander Schauffele, one of three players who finished second. “It was really cool coming down the stretch, all the historic holes, Tiger making the roars. I feel like I got full Masters experience.” The comeback goes beyond the two-shot deficit he erased before a delirious audience that watched memories turn into reality. It had been 14 years since he last won the Masters—no one had ever gone that long between green jackets. He had gone nearly 11 years since his last major, the 2008 US Open at Torrey Pines on a shattered left leg. This was bigger. Woods never missed a shot that mattered over the final seven holes, taking the lead with a 5-iron to the fat of the green on the par-five 15th for a two-putt birdie, delivering the knockout with an 8-iron that rode down the ridge by the cup and settled 2 feet away for birdie on the par-three 16th. He tapped in for bogey and a twounder 70, and the celebration was on. “WOOOOOOO!!!” Woods screamed as he headed for the scoring room with chants of “Tiger! Tiger! Tiger!” He had never hugged more people,

everyone in his camp who stood by him through a public divorce, an embarrassing mug shot from his DUI arrest when he took a bad mix of

ONCE again, a plan comes together. Only this time, it comes with a lot more baggage. AP

painkillers and the four back surgeries, the most recent to fuse his lower spine “I had serious doubts after what transpired a couple of years ago,” Woods said. “I could barely walk. I couldn’t sit. Couldn’t lay down. I really couldn’t do much of anything.... To have the opportunity to come back like this, it’s probably one of the biggest wins I’ve ever had for sure because of it.” President Donald J. Trump, who has played with Woods at his Florida course, had two tweets of congratulations. Fenway Park posted the news on the scoreboard. A comeback for the ages? It rates among the best because Woods has meant so much to so many in a sport he ruled for so long. Whether he can dominate it again is still to be determined. Woods needed

some help to win this Masters. Six players had a share of the lead at some point on the back nine, and there was a five-way tie at the top when the final group was still on the 15th fairway. “You couldn’t have had more drama than we all had out there. And now I know why I’m balding,” Woods said. “This stuff is hard.” It didn’t look that way when he was younger, healthier and the most popular sporting figure in the world. Woods lost his impeccable image to a sex scandal, one of the swiftest and most shocking downfalls in sports. He lost his health to back problems. He went two years without even playing a major. Now the comeback is truly complete. And the race is on. “A big ‘well done’ from me to Tiger,” Nicklaus tweeted. “I am so happy for him and for the game of golf. This is just fantastic!!!” Woods now is three short of the gold standard—18 majors—set by Nicklaus. “I think 18 is a whole lot closer than people think,” Brooks Koepka said. Joe LaCava, the caddie who stayed with Woods even when he didn’t play for the better part of two years, said they have talked about the record. “We’re on 14 and I said, ‘Let’s get to 15.’ You can’t be on 14 and thinking about 18,” LaCava said. “But now we can start talking about 16. So we’re getting closer.” It was the first time Woods won a major when trailing going into the final round. Francesco Molinari, the 54-hole leader, was still up two shots heading into the heart of Amen Corner. And that’s when all hell broke loose. Molinari’s tee shot on the parthree 12th never had a chance, hitting the bank and tumbling into Rae’s Creek for double bogey. Until then, Molinari had never trailed in a round that began early in threesomes to finish ahead of storms. And then it seemed as though practically everyone had a chance,

until Woods delivered the key shots at the big moment, just like the old days. Schauffele failed to birdie the par-five 15th and scrambled for pars the rest of the way for a 68. Dustin Johnson made three straight birdies late in the round, but he got going too late and had to settle for a 68 and a return to No. 1 in the world. Woods goes to No. 6, his first time inside the top 10 since the 2014 PGA Championship. Koepka, one of four players from the final two groups who hit into the water on No. 12, rallied with an eagle on the 13th, narrowly missed another eagle on the 15th and was the last player with a chance. His birdie putt on the 18th from just outside 10 feet missed, and he had to settle for a 70. “You want to play against the best to ever play,” Koepka said. “You want to go toe-to-toe with them. I can leave saying I gave it my all. He’s just good, man.” Woods finished at 13-under 275 and became, at 43, the oldest Masters champion since Nicklaus won his sixth green jacket at 46 in 1986. That has stood as Augusta’s defining moment for years. This one is sure to at least rival it. “This is definitely, probably one of the greatest comebacks I think anybody’s ever seen,” Koepka said. Koepka and Molinari had both faced Tigermania in the majors and held their own, Molinari at Carnoustie to win the British Open, Koepka last summer at Bellerive to win the PGA Championship. Molinari went 49 straight holes without a bogey, a streak that ended on the seventh hole. It was the double bogeys that cost him, and the Italian was gracious as ever in defeat. “I think I made a few new fans today with those double bogeys,” he said. Rain fell briefly, but it stayed away long enough for Woods to be presented his green jacket on the practice green, just like old times. He looked like a new man, making new memories. “Now I’m able to play golf again, and do it at an elite level again, which is something I’m just very blessed to be able to have that opportunity again,” Woods said.

An 11-year journey that feels like several lifetimes A

UGUSTA, Georgia—The sex scandal. The mugshot. The debilitating injuries. Tiger Woods certainly didn’t plan it this way. That only made his 15th major title all the more rewarding. Or, as Tiger put it not long after tapping in a gimme putt on Sunday for a one-stroke victory at the Masters: “Overwhelming.” For so much of his life, the outline that Woods and his hard-driving father, Earl, had so carefully laid out went just as they intended. But when Woods captured his fifth victory at Augusta National—and his first major championship in 11 years that must’ve felt like several lifetimes—he let out a scream that reflected the depths of his personal and professional hell. Some of it of his own making, to be sure.

Some of it beyond his control, in all fairness. All of it leading to a day that just didn’t seem possible, not since the master plan fell apart in so many ways. Tiger Woods. Major champion. “Ahh, it fits,” Woods said, beaming as he tugged on that famous green jacket for the first time since 2005, a photo of Bobby Jones staring down above his left shoulder in the Butler Cabin. For so many years, everything fit so neatly. From his astonishing swings on The Mike Douglas Show at the age of two to becoming the first player to win three straight US Amateur titles to capturing the Masters not long after his 21st birthday by a whopping 12 strokes, the Tiger Way was pure perfection, generating millions for him and his sponsors. He married a Swedish model, had two beautiful children and kept

adding one major title after another, capturing his 14th by his early 30s, on a seemingly unstoppable quest to surpass Jack Nicklaus as the greatest champion of them all. Then, just like that, it all fell apart. His marriage. His reputation. His body. He had major reconstructive surgery on his left knee shortly after hobbling to what had been his most recent major championship, a playoff victory in the 2008 US Open at Torrey Pines. Turns out, that was only a minor prelude to all that agony that was to come, so much of it self-inflicted. While everyone was celebrating the Thanksgiving holiday in 2009, Woods crashed his SUV into a tree and a fire hydrant outside his Florida home. That led to reports of a myriad of extramarital affairs, wrecking the facade he and his father had constructed of the dedicated athlete and perfect family man. Overnight, one of the world’s most famous people became a punchline. Woods checked into a Mississippi clinic for more

than a month, apparently to deal with some sort of sex addiction. Most of his major sponsors fled for cover. Elin Nordegren divorced her cheating husband. In Woods’s return to golf at the Masters, he received a tongue-lashing from Augusta National Chairman Billy Payne for his lack of moral scruples and for the poor example he set for America’s youth. A far cry, to be sure, from the greeting he got on Sunday in the interview room from green-jacketed moderator Craig Heatley, “Welcome back, Tiger. Or more appropriately, welcome home.” If Woods thought things couldn’t get any worse back in 2010, he was mistaken. His body continued to betray him, leading to one surgery after another in an attempt to alleviate the unyielding pain. His back was such a mess that it became a struggle just to walk, or sleep, or play with his kids. Woods faced the very real possibility of never playing golf again, not even for fun. AP

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BUCKS POUND PISTONS M

ILWAUKEE—Giannis Antetokounmpo had 24 points and 17 rebounds in just 24 minutes, and the top-seeded Milwaukee Bucks showed they were serious about making a playoff run with a 121-86 rout of the Detroit Pistons in Game One on Sunday night. The Most Valuable Player (MVP) candidate ran and dunked all over the Pistons, who only really caught him when center Andre Drummond shoved him to the ground with both hands late in the third quarter after Antetokounmpo grabbed an offensive rebound with Detroit trailing by 41 points. Drummond was given a flagrant 2 foul and ejected. He threw a kiss to the Fiserv Forum crowd as he was escorted off the court. Seven Bucks players scored in double figures. Eric Bledsoe had 15 points, and Brook Lopez and Khris Middleton each added 14. George Hill scored 16 points off the bench. Luke Kennard paced the Pistons with 21 points off the bench and Drummond had 12 points and 12 rebounds. Reggie Jackson also had 12 points. Detroit played without forward Blake Griffin, who sat out with a left-knee injury. James Harden had 29 points and 10 assists to help Houston rout Utah, 122-90, in the opener of a best-of-seven first-round playoff series. The Rockets had a double-digit lead for most of the game, but the Jazz got within five points midway through the third quarter before Houston used a big run to pull away and sail to the victory. Houston’s starting lineup helped carry the scoring load on Sunday night, with each starter scoring at least 10 points. Eric Gordon had 17, Clint Capela scored 16, Chris Paul added 14 and P.J. Tucker had 11. Rudy Gobert had 22 points and 12 rebounds to lead the Jazz. Donovan Mitchell had 19 points,

but did not have an assist as the Jazz went long stretches without scoring. Game Two is on Wednesday night in Houston. Damian Lillard scored 30 points and thirdseeded Portland opened its playoff series against No. 6 Oklahoma City with a 104-99 victory. Enes Kanter added 20 points and a career playoff-high 18 rebounds for the Blazers, who were making their sixth straight postseason appearance. CJ McCollum added 24 points. Russell Westbrook had 24 points, 10 assists and 10 rebounds for his ninth career postseason triple-double. Paul George, who was a gametime decision because of a sore shoulder, added 26 points and 10 rebounds after a slow start. Kyrie Irving and Marcus Morris each scored 20 points, and Boston rallied in the second half to beat Indiana, 84-74, in Game One of their firstround playoff series. Jayson Tatum finished with 15 points. Al Horford added 10 points and 11 rebounds, and Gordon Hayward had 10 points. It was the first playoff game since 2017 for Irving and Hayward after each missed last year’s postseason with injuries. Game Two is on Wednesday night in Boston. The Pacers led by 11 points in the first half but had just eight points in the third quarter. The Celtics capitalized and led by as many as 22 in the fourth. Indiana scored 29 points in the second half, and the quarter and half were both its worst of the season. Cory Joseph had 14 points for the Pacers. Bojan Bogdanovic was the lone Pacers starter in double figures with 12 points. AP

PHILIPPINE Sports Commission (PSC) Chairman William Ramirez (center) poses with (from left) PSC Commissioner Celia Kiram, Armed Forces of the Philippines Special Services Chief Col. Taharudin Ampatuan and PSC Commissioner Charles Maxey and Arnold Agustin.

RAMIREZ AND CO. JOIN AFP RESERVE COMMAND P MILWAUKEE’S Giannis Antetokounmpo drives to the basket against Detroit’s Reggie Jackson. AP

Softball association draws busy schedule for Blu Boys, Blu Girls

T will be a busy year for the Amateur Softball Association of the Philippines (Asaphil) with the Blu Girls and Blu Boys set to compete in three major tournaments.

The Blu Girls resume their quest to qualify for the Tokyo 2020 Olympics as they vie in the Women’s Softball Asia Cup from May 1 to 7 in Jakarta where the top 6 teams will advance to the Asia-Oceania Softball Olympic Qualifier in Shanghai, China. The Blu Boys, fresh from a stellar 2018 season, are one of the contenders in the Men’s World Championships in June. Asaphil President Jean Henri Lhuillier is confident about the campaign of both teams. “For the past two years, the RP Blu Girls and Blu Boys have grown tremendously— proving to the world that the Philippines could stand shoulder-to-shoulder with some of the most powerful softball teams,” Lhuillier said. Under Lhuillier’s watch, both national teams have improved their skills—thanks to the continuous training, exposure and equipment support. The Asaphil also kicked off its grassroots program reaching out to local teams of all ages across the country in order to discover, train and retain the next generation of athletes. Lhuillier also opened tryouts for the Blu Girls to foreign-born players of Philippine descent, giving them the opportunity to represent the country on the global stage. The move led to the discovery of outstanding talents playing in Division 1 schools in the United States.

BEST basketball, volley clinics up

HE multi-awarded Basketball Efficiency Scientific Training (BEST) Center opens a new venue for its basketball and volleyball clinics from April 21 to May 26. The historic Bamboo Organ Church will also serve as the backdrop to the clinics when the Saint Joseph’s Academy in Las Piñas welcomes basketball students in Preparatory Level and volleyball students in Level 1. The Las Piñas clinics sponsored by Milo and supported by Rain or Shine, Chris Sports and SKLZ are set from 8 a.m. to 12 noon every Sunday. Volleyball classes at the Ateneo college covered courts on Wednesday, meanwhile, are postponed to give way to a school activity. For details, call 372-3065 or 4116260 or bestcenter.inqujiry@gmail.com, facebook: bestcentersports inc.

HILIPPINE Sports Commission (PSC) Chairman William Ramirez and the board of commissioners are now be part of the Armed Forces of the Philippines’s (AFP) Reserve Command upon the invitation of the military’s Special Services Chief Col. Taharudin Ampatuan in the Military-Athletes and Coaches Fellowship on Monday at the Rizal Memorial Sports Complex. Ampatuan made the announcement in front of the 106 military-athletes and coaches from the Army, Air Force, Navy and Coast Guard who attended the fellowship. “To seal the AFP’s longtime partnership with the PSC, I am welcoming PSC Chairman Ramirez and our Board of Commissioners to be part of our military reserve force,” Ampatuan said.

“The PSC lauds the discipline of our athletes in the AFP. I look at you to lead your co-athletes in discipline and performance,” Ramirez said. The PSC chief also informed the participants of the upgrading of the athletes and coaches allowance, as well as newly renovated Nutrition Hall and major refurbishments of sports facilities and dormitories at Rizal Memorial, PhilSports Complex and Baguio City. “For the first time in 29 years, the PSC is able to provide you all these service all at the same time,” Ramirez said. “The AFP assures the PSC and our soldierathletes of its total cooperation. The AFP is part of the general effort of the government for peace and development,” Ampatuan said. The PSC, meanwhile, will provide financial assistance to the AFP Mini Olympics in May and AFPPhilippine National Police-Philippine Coast Guard Olympics in September.

AMATEUR Softball Association of the Philippines President Jean Henri Lhuillier joins the Blu Girls during a recent courtesy call.

MERCEDES DOUBLE IN CHINA

HANGHAI—Mercedes has gone 1-2, 1-2, 1-2 in the first three races of the new Formula One season, a great start for the sport’s dominating team. Lewis Hamilton and teammate Valtteri Bottas completed their third straight double in Sunday’s Chinese Grand Prix. That kind of start has not happened since 1992 when Nigel Mansell and Riccardo Patrese went 1-2 in the first three races. “As a team, we didn’t expect to have three 1-2s,” Hamilton said. He acknowledged there’s been some luck involved, particularly two weeks ago in Bahrain when Ferrari’s Charles Leclerc should have won, but was undone by late engine trouble. “I think we’re over-delivering a little bit at the moment,” Hamilton said. Sunday’s race turned out to be over in the first 30 seconds. Second on the grid, Hamilton beat pole-sitter Bottas to the first turn and then led for the entire 56 laps. It was Hamilton’s sixth victory on the Shanghai circuit. It was also the five-time and defending champion’s 75th career victory, which moved him into the lead in the overall standings after three races. The next is in two weeks in Baku, Azerbaijan. Sebastian Vettel of Ferrari was third ahead of Red Bull’s Max Verstappen and Leclerc. “The start is really what made the difference,” Hamilton said. “And after that it was kind of history.” The Mercedes 1-2 streak—two wins for Hamilton and one for Bottas—comes despite early hints that Ferrari had more flat-out speed. “You can see it is still very close between us all,” Hamilton said. “We have no idea how the next race is going to turn out.” Bottas acknowledged he was done in by his

slow start, with Hamilton racing ahead out of the first turn. “I think I lost it in the start, honestly,” Bottas said. “It’s a shame about the start. It’s small details, but it’s early days in the season. But we’ve done three perfect weekends so far.” The 21-year-old Leclerc of Monaco was upset after about 10 laps when his Ferrari team ordered him to let Vettel pass. Vettel was in fourth at the time and Leclerc was third. “Let Sebastian by. Let Sebastian by,” the team radio told Leclerc. He replied, clearly irritated: “But I’m pulling away” as he backed off and watched Vettel pass. Ferrari team head Mattia Binotto told reporters earlier in the week that preference would be given to the four-time champion Vettel over Leclerc. At least early in the season. AP

LEWIS HAMILTON there’s been some luck involved in their success early in the season. AP

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ELASTO PAINTERS TARGET 3-0 LEAD J

UST before the league observes the Lenten break, Rain or Shine will try to pull away and mount a big cushion over Magnolia when the two collides in Game Three of their best-of-seven semifinals series in the Philippine Basketball Association Philippine Cup on Tuesday at the Smart Araneta Coliseum. The Elasto Painters zoomed to a 2-0 lead following their lopsided 93-80 win on Sunday. Coach Caloy Garcia and his men are poised to make it three straight before the league halts for the Holy Week. But, despite the edge in the series, Garcia brushes off any air of complacency as they face the Hotshots again at 7 p.m. “We know Magnolia is capable of coming back. It’s going to be hard if we lose and they can

Forum takes break

HE Philippine Sportswriters Association (PSA) Forum will not have its weekly session on Tuesday at the Amelie Hotel-Manila in observance of the Holy Week. The public sports program resumes its regular session on April 23 at the same venue with Team Pilipinas Coach Yeng Guiao as the main guest.

have a break. It’s better if we win,” Garcia said. In the quarterfinals, Magnolia started on the wrong foot and lost Game One to sister team Barangay Ginebra. The Hotshots learned their lessons, winning the next two games to book a semifinals duel with the top seeded Elasto Painters. But it was a different scene in the semifinals and Rain or Shine is a more capable foe. Magnolia was battered twice to start the series, first with a 77-84 loss then the one-sided result on Sunday. However, Garcia remains vigilant, and warns his players that they should win four times before calming themselves. ‘’It’s still a long series. It’s all about consistency and trusting each other,” he said. It was the youngsters who provided the tools for Rain or Shine as Javee Mocon, Ed Daquioag,

Norbert Torres and Rey Nambatac all had significant contributions. Mocon starred in Game One with teamhigh 15 points, while the trio of Daquioag, Torres and Nambatac unleashed big numbers with a combined output of 47 points spiked by Daquioag’s 19 points. Garcia could only say sweet words for his top scorers. “At the start of the season, I told them to trust each other. We seldom used Rey and Ed in the eliminations. We talked about it and I told them you have to be ready every game, everybody has to come out,” he said. The Hotshots, on the other hand, got the bulk of scoring from Ian Sangalang and Robbie Herndon, who each had 13 points.

SPORTS WITHOUT BORDERS VINCENT JUICO @VJuico Instagram vpjp_j, vince.juico@gmail.com

Mauro Prosperi JAYVEE MOCON churns in the numbers for Rain or Shine.

THAIS SHOW WAY T

HAILAND’S Namchok Tantipokhakul came out of a two-hour rain delay in fierce form then came back from a bogey mishap with back-toback birdies at the finish to shoot a five-under 65 and seize the clubhouse lead over unheralded Enrico Gallardo at the start of the International Container Terminal Services Inc. (ICTSI) Luisita Championship in Tarlac on Monday. Gallardo came through with a four-under card after 10 holes then settled for pars the rest of the way to settle for second as the first round of the $100,000 event was stopped due to darkness following a two-hour delay due to heavy rains and threats of lightning. But Choo Tze Huang could wrest the lead at resumption of play early on Tuesday after the former Singapore amateur titlist fired a bogeyfree five-under card with three holes to play. Korean Kim Dae-won also had a four-under card and Keanu Jahns went three-under after 15 holes while Aussie Fidel Concepcion, Swede Sebastian Hansson and CAT Open champion James Ryan Lam and Mars Pucay all had two-under cards after 15 holes. Tantipokhakul, coming off a joint sixth place effort in the Solaire Philippine Open two weeks ago, flashed superb touch off the mound then

Scratchers grab 2nd straight win

O for Gold-College of Saint Benilde made it two straight wins with a 101-92 trouncing of Che’Lu Bar and Grill in the Philippine Basketball Association Developmental League on Monday at JCSGO Gym in Cubao, Quezon City. Roosevelt Adams and Justin Gutang conspired in helping the Scratchers rise to a 3-3 win-loss record in the Aspirants Group. Adams topped his side with 22 points, 12 rebounds and three assists, while Gutang remained as deadly with his 20 points, four assists, three boards and two steals. “I like how we battled and stayed composed. We were down early in the game and we were able to execute,” coach Charles Tiu said. Adams and Gutang joined forces in the killer 14-0 tear between the final two frames to turn a 63-59 deficit to a 73-63 lead as Go for Gold-CSB used that to erupt for 37 in the fourth period. Clement Leutcheu just missed out on a doubledouble with his 15 points and nine rebounds, Yankie Haruna added 15 points, eight boards and four assists, and Unique Naboa had 11 for the Scratchers. The loss ended Che’Lu’s two-game winning run to fall to 3-2. Jhaps Bautista was seemingly the lone bright spot for the Revellers as he wound up with 26 points in the loss.

After erecting a torrid defense in the seriesopener, it was the three-point barrage of Rain or Shine that clicked in the second game with the team nailing 16 triples. The match went wide open in the second quarter when the Elasto Painters unloaded a 12-3 run for a commanding 41-26 lead in the 4:40 minute mark. From there, the lead climbed to a high of 25 with a Mocon basket early in the fourth frame. Veteran James Yap only had eight points, but his two treys were enough to put him in fourth overall in 3-pointers made with 1,138 career triples. He surpassed Dondon Hontiveros, who had 1,137 in his decorated career. Next after Yap is Ronnie Magsanoc’s 1,171. Ramon Rafael Bonilla

THAILAND’S Namchok Tantipokhakul shoots a five-under 65 in the first round. ROY DOMINGO

bucked the softened fairways with a nearimpeccable iron game to produce six birdies against a lone bogey for a 33-34 card under preferred lies rule. “I played solid and putted very well,” said Tantipokhakul, who missed just three fairways and two greens while anchoring his superb opening round bid with 25 putts. “Not bothered by wet conditions. It’s actually good for long hitters like me.” Tantipokhakul gunned down birdies on Nos. 3, 5 and 9 at resumption to outclass flightmates defending champion David Gleeson of Australia and local ace Juvic Pagunsan in one of the featured flights in the $100,000 event put up by ICTSI. The 34-year-old power hitter from Chonburi birdied No. 12 then bounced back from a missed green bogey on the 14th with birdies on Nos. 16 and the difficult par-three 17th inside 10 feet. Gleeson, who nipped Erwin Arcillas on the third playoff hole to nail his breakthrough win last year, hit three birdies but fumbled with the same number of bogeys while Pagunsan, seeking to atone for his missed cut stint in the Philippine Open after dominating the Philippine Golf Tour (PGT) Asia Riviera leg last month, recovered from a double-bogey misadventure on No. 7 with birdies on the next and on No. 16 as the duo joined a big bunch of even par scorers but five shots off Tantipokhakul. Jay Bayron checked a rollercoaster two birdie-two bogey game with three straight birdies from No. 13 but missed moving closer to or catching up with Tantipokhakul with flubbed

birdies in the last three holes. He turned in a 36-33, the same nines put in by American Lexus Keoninh while Natthapong Niyomchon blew a solid backside 31 with two bogeys at the front to drop to Bayron’s group. Finland’s Teemu Putkonen rattled off three birdies in the first six holes at the back but bogeyed the last to slip to joint fifth at 70 with Thai Kammalas Namuangruk and locals Elmer Salvador and Kuresh Samanodi, while Thais Pasavee Lertvilai, Tawit Polthai, and veteran Wisut Artjanawat and Gerald Rosales churned out identical 71s to boost their respective bids at the tight, hazard laden Robert Trent Jones Sr.-designed layout. Rosales, a former Philippine Open titlist in an all-local field, showed flashes of brilliance with two birdies at the front but after a run of pars, the former amateur hotshot wavered at the finish, closing out with a bogey-birdie-bogeybogey-birdie for a 37. Some of the local favorites, however, fell way behind with fat scores and in danger of missing the top 50 plus ties cut in this kickoff leg of the third season of the region’s newest circuit backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High. They include reigning PGT Order of Merit champion Jobim Carlos, who skied to an 82 marred by a triple bogey and two doubles bogeys while trying to buck a hand injury that forced him to withdraw from the Philippine Open after 18 holes.

BMX BETS SHINE IN ASIAN TILT

Up-and-coming Patrick Coo (right) poses with his two gold medals in the Men Junior and C1 events, and Incheon Asian Games champion and London Olympian Daniel Caluag (left) displays his silver medal in Men’s C1 which they won at the Asian BMX Championships in Kuala Lumpur over the weekend with PhilCycling President and Tagaytay City Rep. Abraham “Bambol” Tolentino personally overseeing their performances. Caluag finishes fourth in the Men’s Race after skidding in the first corner of the track. Both Caluag and Coo are based in the US.

RONDINA LEADS BY ACTION AND EXAMPLE

GREAT leader is judged through his or her action and example. Sisi Rondina did just that in the week that was as she fulfilled her promise of bringing University of Santo Tomas (UST) to greater heights in her swan song. The graduating hitter rallied the Tigresses back into the Final Four for the second time in her storied five-year career with superb showing in UST’s two outings, enough to earn Rondina the nod for her first-ever Collegiate Press Corps University Athletic Association of the Philippines Player of the Week. The 22-year-old open spiker exploded for 20 points on Wednesday in the Tigresses’ 25-21, 2512, 26-24, win over University of the Philippines that put UST in a good position for a return stint in the Final Four after missing the cut last year. Rondina hammered 17 of those points off attacks

and added 15 digs and eight excellent receptions. The four-time beach volleyball champion picked up from where she left off four days after with a 21-point performance as the Tigresses submitted Far Eastern University, 25-23, 25-18, 25-23, to validate their entry in the Final Four. Rondina filled the stats sheet with 17 spikes, three aces and a kill block, while showing her prowess in floor defense with 15 digs and 12 excellent receptions in the victory that gave Tigers a chance to vie for a semis twice-to-beat advantage. The Queen Tigress downplayed her impressive effort in UST’s romp and was quick to credit her teammates. “The good thing is my teammates are responsible athletes—they listen, they help each other,” Rondina said. “We are focused.”

The Tigresses, actually, entered the match already assured of a semis seat after also-ran National University (NU) the Lady Maroons from the Final Four contention but it didn’t distract Rondina and the rest of UST from their focus of building momentum heading into the postseason wars. The España-based squad (9-4) can snatch a semis advantage if it hurdles the Lady Bulldogs on April 27 and three-time defending champion De La Salle University (9-3) drops all of its remaining games. UST can also force a playoff for a Final Four edge if it wins its last game and the Lady Spikers lose one of their last two outings. Rondina edged out rookie Princess Robles of NU, DLSU freshman Jolina Dela Cruz and University of the East’s Judith Abil and Mean Mendrez for the weekly honors given by online, tabloid and broadsheet scribes covering the beat.

Arcilla out to defend tennis crown

J UNIVERSITY of the Philippines’s Isa Molde tries to save the ball during their Season 81 University Athletic Association of the Philippines women’s volleyball match which they lost to National University, 25-21, 26-24, 17-25, 23-25, 17-15, on Sunday at the Mall of Asia Arena in Pasay City. The Lady Fighting Maroons are now out of the Final Four picture. NONIE REYES

OHNNY ARCILLA exudes confidence as he sets out for his title-retention drive against a crack field toughened up by the presence of a slew of young guns ready to prove their worth in the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Gov. Alfonso Umali Cup Tennis Championship firing off on Tuesday at the Bahaghari Tennis Club in Oriental Mindoro. Arcilla bested fellow Davis Cupper and doubles partner Jeson Patrombon, 6-3, 6-4, to reign here last year but the veteran campaigner braces for a tough campaign this time given the depth of the 32-player men’s field clashing for the top P40,000 purse in the weeklong event held in conjunction with the Pinamalayan Festival celebrations. Patrombon gains the top seeding with Arcilla at No. 2, but the likes of Leander Lazaro, Mark Alcoseba, Noel Damian, Deo Talatayod, Fritz Verdad and Rodolfo Barquin, Kim Saraza and John Mari

Altiche are going all out to spring a surprise or two against the field’s top guns in what promises to be a thrilling battle of power and endurance. Also on tap in the event sponsored by Gov. Umali and the provincial government of Oriental Mindoro is the doubles competition with the Arcilla-Patrombon tandem looming as the team to beat with the Alcoseba-Damian, Lazaro-Verdad and Joseph Arcilla-Talatayod pairs raring to foil the fancied team’s bid in the event serving as part of the nationwide, yearlong circuit PPS-PEPP headed by President and CEO Bobby Castro, and presented by Dunlop. The Umali Cup Open also comes on the heels of the twin staging of junior tournaments in Oriental Mindoro and Pangasinan sanctioned by the Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-MEG as part of PPSPEPP’s talent-search.

TALK about from the frying pan into the fire, that’s what happened to Mauro Prosperi, a pentathlete and police officer, another professional athlete who was featured in one of the episodes of the Netflix documentary Losers. In the BBC.com web site dated November 27, 2014, “How I drank urine and bat blood to survive,” Prosperi tells his story which I will quote from time to time. ”What I like most about running extreme marathons is the fact that you come into close contact with nature—the races take place in beautiful settings, such as mountains, deserts, glaciers. As a professional athlete I hadn’t been able to enjoy these surroundings because I was so focused on winning medals. I found out about the Marathon des Sables by chance. I had already retired from the pentathlon when a good friend said to me:‘There’s this amazing marathon in the desert—but it’s very tough.’ I love a challenge so I started training immediately, running 40 kilometer [25 miles] a day, reducing the amount of water I was drinking to get used to dehydration. I was never home.” Prosperi’s marriage fell apart as a result of his “obsession” to run at the Marathon de Sables. The Marathon de Sables were two tests in one for Prosperi, the first was the marathon itself and the second was drinking his own urine, eating insects and bats, and drinking bat blood. Prosperi lost 40 pounds due to his ordeal and fully recovered only after two years. “My wife, Cinzia, thought I was insane—the race is so risky that you have to sign a form to say where you want your body to be sent in case you die. We had three children under the age of eight, so she was worried. I tried to reassure her. ‘The worst that can happen is that I get a bit sunburned,’ I said. When I arrived in Morocco, I discovered a marvelous thing—the desert. I was bewitched. These days the Marathon des Sables is a very different experience, with up to 1,300 participants it’s like a giant snake— you couldn’t get lost if you tried. But back in 1994 there were only 80 of us, and very few who were actually running, so most of the time I was on my own.” ”Things went wrong on the fourth day, during the longest and most difficult stage of the race.” What a time for it to happen. Prosperi continues, “I walked in the desert for days, killing snakes and lizards and eating them raw—that way I drank, too. I think there are some instincts, a kind of déjà vu, that kick in in an emergency situation: my inner caveman emerged.” Prosperi tried to take his own life by slashing his wrist, “I wasn’t afraid of dying and my decision to take my own life came out of logical reasoning rather than despair. I wrote a note to my wife with a piece of charcoal and then cut my wrists. I lay down and waited to die, but my blood had thickened and wouldn’t drain.” I guess it wasn’t Prosperi’s time, yet. Prosperi thought he was a man of the dessert: “I started to think of myself as a man of the desert. Later, a Tuareg prince dedicated a poem to me— according to him I was a ‘chosen one’ because I survived for so long in the desert.” The whole experience changed Prosperi both physically and his outlook in life, “When they weighed me in the hospital I had lost 16 kilograms (35 lbs)—I weighed just 45 kgs (99 lbs). My eyes had suffered and my liver was damaged, but my kidneys were fine. I couldn’t eat anything other than soup or liquids for months. It took me almost two years to recover.” Just when you thought what happened would discourage and traumatize Mauro Prosperi, “four years later I was back at the Marathon des Sables. People ask me why I went back, but when I start something I want to finish it. The other reason was that I can’t live without the desert. Desert fever does exist and it’s a disease that I’ve absolutely caught. I’m drawn back to the desert every year to greet it, to experience it. I ran eight more desert marathons and am now preparing for my biggest, yet. Next year I’m planning to run 7,000 km (4,350 miles) coast-to-coast across the Sahara from Agadir (Morocco) on the Atlantic Ocean to Hurghada (Egypt) on the Red Sea. Sport and nature are part of my life, and these races allow me to experience them first-hand.” Not exactly how I’d want to lose weight but losing 40 pounds is obesity’s nightmare. The Marathon de Sables is a test of the human spirit. You’ll find out a lot about yourself, what you’re made of and who and what you are.

MAGICAL DAY FOR GOLF Sports TIGER WOODS’S

BusinessMirror

CAREER

| Tuesday, April 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

A TIMELINE of memorable events in Tiger Woods’s career:

AT the age of 43, Tiger Woods is a major champion again after fighting his way through a leaderboard filled with young talent, most who list him as a golf hero. AP

On a magical afternoon at Augusta National, Tiger Woods didn’t let them or any of his millions of fans around the world down on a day that will live in Masters lore, already thick with his achievements.

FRANCESCO MOLINARI: I learned a lot of things today. AP

By Tim Dahlberg The Associated Press

UGUSTA, Georgia—They crowded hundreds deep around the 18th green, roaring when those lucky enough to be in front signaled the first sight of Tiger Woods in his familiar red coming up the fairway. Up by the clubhouse, the kitchen help stood in white jackets and hats, much like a previous generation did all those years ago. In front of them, a group of young people working this week as trash pickers tried unsuccessfully to find a piece of higher ground to witness history. Few in the huge throng had any hope of seeing anything. But they could hear, and on this day that was enough. Off to the side of the green, the Woods children had a much better view. His daughter, Sam, was a year old when dad won his last major championship and son, Charlie, had yet to be born. They had watched last summer as Woods tried desperately to break his major championship drought at the British Open, only to come up just short. “I wasn’t going to let that happen to them twice,” Woods said. On a magical afternoon at Augusta National, there was no chance of that happening. Woods didn’t let them or any of his millions of fans around the world down on a day that will live in Masters lore, already thick with Woods’s achievements. This wasn’t his signature win from 22 years ago, when he was the young phenom who

thrilled the country by romping to victory for the first time at Augusta National. But it seemed just as good, just as satisfying, both to him and the massive galleries that did all they could to try and will him to a win. “To come back here and play as well as I did and did all the things—all the little things well this week, and to do it here,” Woods said, choking up at the thought. “This has meant so much to me and my family, this tournament, and to have everyone here, it’s something I’ll never, ever forget. At the age of 43, he’s a major champion again after fighting his way through a leaderboard filled with young talent, most who list Woods as a golf hero. He seized control of the tournament with near kick-in birdies on the 15th and 16th holes. That got him his fifth green jacket, but this meant more. So much more. All the doubt. All the doubters. All the issues no one ever expected Woods to have. “I don’t know of a better comeback in sports in my lifetime,” former champion Zach Johnson said. America got up early to watch Woods try and win a major from behind for the first time, after tee times were moved up nearly six hours because of threatening weather. And America got quite a show. Woods grabbed the lead in Amen Corner when everyone around him seemed to be hitting balls into Rae’s Creek. Then he held on for dear life as the birdies started pouring in from those playing in front of him. “Now I know why I’m balding,” Woods said. “This stuff is hard.” The key to his remarkable day, though, might have come after a 3-putt on the fifth hole that left him three shots behind Francesco Molinari, who had beaten him at the British Open in front of his kids. Caddie Joe LaCava had seen enough, and gave Woods a talking too on the way to the sixth hole. “He was saying some things that I can’t really repeat here,” Woods said. “Then I went into the restroom and proceeded to say the same things over and over to myself. And then came out and I felt a lot better.” Woods called it a grind, and it was until his tee shot on the par-three 16th hole almost went in. It became a

coronation on the final holes, as roars echoed with each birdie and the inevitability of it all started to sink in. The crowd was thrilled, even those who had to listen to figure out what was happening out of sight. So, it seems, was almost every sports hero around the world. Tom Brady was watching from his couch and tweeted his congratulations. Serena Williams took a break from partying at fellow tennis player Caroline Wozniacki’s bachelorette party to see it all unfold. “I am literally in tears watching,” Williams tweeted. “This is Greatness like no other.” President Donald J. Trump and former President Barack Obama weighed in, and so did Steph Curry, calling it the greatest comeback in sports. At the Orioles game in Baltimore they played a highlight of Woods on the 18th green during a break between innings as the crowd cheered. Woods himself screamed out in sheer joy after sinking his final putt, and no one could blame him. It had been a long, tortured path back to the top and the way it all ended at the place that he loves best couldn’t have been scripted in a Hollywood movie. It had been 14 long years since his last Masters win. Eleven years since his last major championship. And now the question becomes not can Woods win again, but whether he can beat the record of 18 major championships set by Jack Nicklaus. “I really haven’t thought about that yet,” Woods said. “I’m sure that I’ll probably think of it going down the road. But right now, it’s a little soon, and I’m just enjoying 15.” So was LaCava, who signed on to Woods’s bag at a time where he was still dealing with back issues and a messy DUI and wasn’t sure he would even play again. LaCava has been on the bag to see Woods change both as a player and a person. “He’s high-fiving people, he’s signing some autographs,” LaCava said. “He’s much more fan-friendly, which is awesome.” The two fans Woods wanted to win for most were in his family. They got hugs from dad on the green, then walked with him through an opening in the crowd as chants of “Tiger, Tiger, Tiger” rang out. “I hope they’re proud of their dad,” Woods said. Surely they are. But they’re not alone.

Molinari’s wet miscues cost him Masters

UGUSTA, Georgia—Francesco Molinari was gracious in defeat, despite losing control of the Masters following a wet and disappointing back

nine. Just two bad shots, that’s all it took. Two splashdowns in the water and two double bogeys on Sunday left him watching Tiger Woods celebrate capturing another green jacket. But Molinari was anything but petulant following the stinging setback. He acknowledged that watching Woods make history was special. Despite blowing a three-shot lead during the final round, he could appreciate the roars from the crowd and the electric atmosphere at Augusta National. However, he stopped short of saying he turned into a fan for a moment on the 18th green when Woods won. “No,” he said before breaking into a small grin. “Sorry.” After playing rock-solid golf for 3 1/2 rounds, Molinari flinched and errors opened the door for Woods—and others. Molinari hit his tee shot into the water at No. 12

and his third shot on No. 15 ended up wet as well. The 36-year-old Italian went 49 straight holes without a bogey at one point during the tournament. But a couple of bad swings erased all that good work in a hurry. “From my point of view, it’s just a step along the way,” Molinari said. “I think it wasn’t my day today. That ball on 12, if it is 1 yard further left it goes in the bunker [instead of the water]. The third shot on 15, it could easily have not clipped the tree. “Sometimes it’s your day. Sometimes it isn’t.” Molinari said he hit an 8-iron on the decisive 12th hole. Last year’s British Open champion said the wind was difficult to judge on Sunday and he didn’t always have the control he wanted. “We picked the right shot,” Molinari said. “I just didn’t hit it hard enough. Simple as that. It was tough today with the wind gusting. I managed to scramble well on the front nine. I just had a couple mental lapses on the back nine that were costly.

August 1996—Wins third straight US Amateur and turns professional the following week. October 1996—Wins the Las Vegas Invitational for his first PGA Tour victory in his fifth professional tournament. April 1997—Wins the Masters at age 21 with a record score (270) and a record margin of victory (12 shots) to become its youngest champion. June 2000—Wins the US Open at Pebble Beach by 15 shots, the largest margin in major championship history. April 2001—Completes the “Tiger Slam,” winning the Masters to become the only player to hold all four professional majors at the same time. October 2004—Marries Elin Nordegren. June 2007—Nordegren gives birth to their first child, daughter Samantha, a day after Woods finishes runnerup in the US Open. June 2008—Wins the US Open in a playoff at Torrey Pines for his 14th major, four short of the record held by Jack Nicklaus. A week later, he has reconstructive surgery on his left knee to repair a torn ACL and two stress fractures in his left tibia. He is out for eight months. February 2009—Wife gives birth to their son, Charlie. August 2009—Loses a two-shot lead in the final round of the Professional Golfers’ Association (PGA) Championship to YE Yang, the first time Woods has lost a 54-hole lead in a major. November 2009—Crashes his SUV into a tree and a fire hydrant outside his Windemere, Florida, home. Within a few weeks, his personal life unravels with reports of multiple extramarital affairs and he loses major sponsorship endorsements. He spends 45 days in a clinic and does not return to golf until the 2010 Masters. August 2010—His divorce is finalized. March 2012—Wins the Arnold Palmer Invitational for his first PGA Tour victory since the scandal in his personal life. April 2014—Has back surgery a week before the Masters and misses Augusta National for the first time. August 2014—Misses the cut in the PGA Championship and says he will take the rest of the year off, including the Ryder Cup, to get healthy. February 2015—Looking like an amateur with his short game, shoots 82 in the Phoenix Open to miss the cut. A week later at Torrey Pines, withdraws after 11 holes. Announces he is taking time off to work on his game, saying that “my play, and scores, are not acceptable for tournament golf.” April 2015—Returns at the Masters, his chipping issues gone, and ties for 17th. June 2015—Shoots an 85 in the third round of the Memorial, his highest score as a professional. August 2015—Misses the cut in his third straight major at the PGA Championship. September 2015—Has a second back surgery. October 2015—Has a third procedure on his back. December 2015—In a somber press conference at his Hero World Challenge, Woods says of his future, “So where is the light at the end of the tunnel? I don’t know.” He says he wants to play again and anything else he achieves will be “gravy.” January 2017—Makes first PGA Tour start since 2015 and misses the cut at Torrey Pines. April 2017—Has a fourth back surgery, this one to fuse his lower back. May 2017—Arrested and briefly jailed in Jupiter, Florida, on suspicion of DUI. Police find him asleep behind the wheel of his car in the early morning with the engine running. He attributes it to a bad combination of pain medication. October 2017—Woods pleads guilty to reckless driving and agrees to enter a diversion program. Prosecutors drop the DUI charge under the plea agreement. December 2017—Returns to competition at his Hero World Challenge, posts three rounds in the 60s and ties for ninth against an 18-man field, 10 shots behind. July 2018—Takes the lead in the final round of the British Open, only to make double bogey on the 12th hole and finish in a tie for sixth. August 2018—Closes with a 64, his lowest final round ever in a major, and is runner-up to Brooks Koepka in the PGA Championship. September 2018—Wins the Tour Championship for his 80th career victory on the PGA Tour, leaving him two shy of the record held by Sam Snead. April 2019—Wins the Masters for his fifth green jacket and 15th major title, his first in 11 years. He moves within three victories of Jack Nicklaus’s record for major championships. AP

“But it is what it is.” It looked like Molinari might run away with his second major in two years during the first part of the round. He made six straight pars as others faltered. When he walked to the No. 7 tee box, he had a three-shot lead, looking unfazed by what was happening around him. He made bogey on No. 7 to end his par-or-better streak at 49 holes, but recovered with a birdie on No. 8. At the turn, he was still two shots ahead. But the first double bogey on 12 dropped him into a tie for the lead. The second on 15 sent him tumbling out of contention. “You cannot open the door to those kids of great players,” Molinari’s caddie Pello Iguaran said. “So you see what happens.” By the time 18 approached, the roars from the crowd had turned toward Tiger. The opportunity for his second major title had disappeared. “I’m really happy of the way I felt out there,” Molinari said. “I was calm, collected, never panicked—even after the first double bogey. I learned a lot of things today. “I did a few things I wish I had done differently now, but I learn from my mistakes.” AP

Oh Lord of hosts

EAR God, how lovely is dwelling place, oh Lord of host. My soul is longing and yearning for the courts of the Lord. My heart and my flesh cry out to the living God. Even the sparrow finds a home and the swallow a nest for herself in which she sets her young at Your altars, oh Lord of hosts, my king and my God. Blessed are they who dwell in Your house, forever singing Your praise. Blessed the people whose strength is in You, whose hearts are set on the pilgrimage, (PSALM 84:2-5). We praise You, oh Lord, all the days of our lives. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

JB Woodcrafts in Manila FAME October 2018

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PASSING ON AN ARTISAN’S LEGACY WHAT started as a small business of building and selling billiard tables, and buying and selling souvenir items has now evolved into a conglomerate of design-centric companies. Four furniture firms have burgeoned from the artisan heritage started by the Bituin family of Pampanga. The family’s legacy translated into export-quality pieces for different tastes and markets. Mr. and Mrs. Jose and Myrna Bituin started JB Woodcrafts and Betis Crafts in the 1970s, laying the groundwork in creating intricate wood carvings that many international buyers have set their eyes and hearts on over the years. The artistic energy of the couple has since passed on to their children who now head a company of their own, each producing exquisite handcrafted furniture and accent pieces. Eldest daughter Alona Bituin-Sinsuat is now at the helm of Betis Crafts while sister Leslie BituinMendoza handles JB Woodcrafts. Determined to expand the business even more by capturing modern and contemporary designs for today’s market, Allan Bituin founded More Than a Chair and Lieza Marie Bituin leads South Sea Veneer. These independent companies complement each other’s operations and can be differentiated by their expertise. Betis Crafts, for instance, is proud of their simple but sophisticated carvings and classic designs, while JB Woodcrafts takes pride in their elegant finishes and elaborate details. “We look forward to seeing the design footprint of our works, because we see ourselves as the makers of the antiques of the future,” shared Alona Bituin-Sinsuat. The Bituin children may have inherited the artistic flai and penchant for international trade from their parents, but they are also imbuing their own individuality in their respective companies through their new designs and in the way they do business. “The influence of social media helps us a lot in selling our inventories. We help our partner buyers by sending styled and high-resolution photos of our products that they can promote on their web sites and social-media channels even before our items reached their shores,” said Alona. “Our service to our foreign customers does not stop in manufacturing quality pieces, as we also work closely with their sales people. We add value to our products through enhanced and more engaging marketing solutions,” she added. “From the very first venture of JB Woodcrafts, we now have 45 years in the industry, and joining international trade fairs such as the Manila FAME has been instrumental to our success,” said family matriarch Myrna Bituin. “Other countries, such as Vietnam, Indonesia and China might emerge as a major competitor, but the country is thriving because platforms like Manila FAME effectively showcase our edge and niche in the global market—and that is the Filipino brand of creativity,” she ended. The Manila FAME April 2019 (www.manilafame. com) organized by the Center for International Trade Expositions and Missions, the export promotion arm of the Department of Trade and Industry, is opening its doors to local and international exhibitors to take advantage of its numerous show opportunities. Scheduled from April 25 to 27, everyone is invited to take part and witness how the show continually elevates Filipino craftsmanship. Manila FAME is one of the longest-running trade shows in the Asia-Pacific region and is the only trade event in the Philippines approved by the Union des Foires Internationales, the Global Association of the Exhibition Industry. It is held biannually every April and October.

A NURSERY by interior designer Jenny Dina Kirschner. For parents seeking an “ecoANOTHER nursery by Kirschner. Non-VOC wall paint, organic cotton bedding and an friendly” baby nursery, Kirschner suggests researching the materials used not just organic cotton mattress can help create an eco-friendly and healthy space in a new for the surface upholstery, but also in manufacturing of the interior of any furniture baby’s bedroom, says Kirschner. you purchase. PHOTOS: AP

Creating an eco-friendly nursery, from paint to fabrics By MeLiSSa RayWoRTH The Associated Press

HEN interior designer Jenny Dina Kirschner was designing a bedroom for her first baby, she wanted to create the healthiest possible space—for her baby and for the environment. She began by choosing healthier paints, naturalfiber rugs and organic fabrics. “Babies put everything in their mouths,” Kirschner says. So her goal is “try to protect them as much as possible from exposure to those things that can be avoided.” Creating an eco-friendly nursery has gained new attention lately, since news reports have said Britain’s Prince Harry and Meghan the Duchess of Sussex had the nursery for their soon-to-be-born royal baby painted with all-natural, vegan paint. That’s the general approach taken by Brooke Berrios, an early childhood education teacher, when her son was born six years ago. Berrios, an instructor at the Kremen School of Education and Human Development at California State University, Fresno, was familiar with research into the impact of toxins on children’s brain development. She painted her son’s nursery with non-VOC paint (paint that doesn’t contain volatile compounds which give off gases) and bought organic cotton towels and bedding. “I always get called a hippie-dippie friend,” she says. But “toxicity from the environment can have an impact.” What are the best ways to make sure your baby’s nursery is healthy, and has as little negative impact on the environment as possible?

TOSHIBA HOME APPLIANCE LINE LAUNCHED Leading

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 (from left) Charles Zhang, deputy general manager of Concepcion Midea Inc.; Zeal Jiang, general manager of overseas market-refrigerator division for the Midea Group; Rooney Xiao, general manager of overseas marketlaundry division for the Midea Group; and Phillip Trapaga, general manager of Concepcion Midea Inc.

DO SOME RESEARCH SOME furniture upholstered with 100 percent natural fibers may have insides that include formaldehyde, flame retardants or other unhealthy chemicals, Kirschner says, so find out what’s in them. High-quality natural fiber rugs can actually last longer than some synthetics. And they can be left undyed, or colored with vegetable dyes. Designer Paula Queen, founder of the children’s décor line Lil’ Pyar, suggests asking what dyes have been used on the rugs and fabrics you choose for a baby’s room. Also, ask where the items are being made and whether they will need to be shipped. Buying locally is the greenest option. BUY FOR THE LONG TERM INTERIOR designer and HGTV host Vern Yip advises parents to choose nursery items that can be used for decades—even generations—to come. “Look at furniture that’s going into your nursery as long-term furniture, things they can use for their lifetime,” he says. “We didn’t really buy pieces, with the exception of the crib, that were intended for a nursery.” For his children’s nurseries, Yip chose dressers with a removable diaper-changing tray on top, rather than buying a dedicated changing table that his family would get rid of once the kids were out of diapers. He also suggests looking at secondhand furniture and vintage items rather than buying something newly manufactured. These designers also recommend choosing chairs or tables that could be used elsewhere in your home in the future.

And light the room for the long term: Yip points out that we often leave lights on in a nursery, so choosing long-life LED bulbs is practical on two levels. Tired, busy parents don’t have to change light bulbs as often, and LEDs waste far less energy than conventional bulbs. Opt for items constructed from sustainably grown materials or made with environmental concerns in mind. Queen’s firm makes small seating poufs from canvas fabric remnants left over from other manufacturing. “We really use every element of material that we can,” she says. PEACE OF MIND KIRSCHNER points out that some new parents struggle to balance their desire for a healthy space with the convenience of synthetic fabrics and rugs that are easy to clean. Life with babies can be messy. “I have a lot of clients with kids and babies, and they all want these synthetic textiles used everywhere, because they are so stain-resistant and virtually indestructible,” Kirschner says. “As a designer, I have to warn them that these are not healthy.” Parents’ peace of mind is an important consideration in choosing nursery décor, and ecofriendly choices can bring that, says Lauren Myers, a developmental psychologist at Lafayette College in Easton, Pennsylvania. “What babies really need are people who love them and respond to them,” Myers says. “And if a parent finds the baby’s environment soothing and stressrelieving, that is good for the parent. Too often we forget that what is good for the parent is also good for the baby.” n

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‘Ladies Who Punch’ offers inside look of ‘The View’ By Lincee Ray The Associated Press

Together, the women changed daytime television. Although the idea of the show was an accomplishment, everyday operations were never smooth. Matenopoulos was let go for being too green. Jones insisted the show revolve around her pending wedding. And eventually, Vieira left, leaving a handful of spots to fill. Enter Rosie O’Donnell. Collectively, O’Donnell spent two seasons on The View, but her stint produced many of the most memorable moments on the show. During O’Donnell’s part in the book, Setoodeh tackles her rivalry with Donald J. Trump, her on-air cat fight with Elisabeth Hasselbeck, and the turmoil she caused among producers and directors. When she left, a new powerhouse took over in the curious form of movie actress Whoopi Goldberg. Goldberg’s point of view in the book describes her steady hand that ushered in a new era. Once Walters retired, Goldberg became a new force with which to be reckoned. And she still helms the ship today. With a random array of hosts and plenty of drama to go around, Setoodeh manages to peel back the composed facade of what viewers see on their screens in order to focus on raw feelings and teetering emotions of those closely involved with The View. Ladies Who Punch is an exciting read that proves there’s always a little soap opera even if a show presents itself as hard news. n

HANCES are, if you’ve never tuned into the talk show The View, you have heard about it. Legendary journalist and creator Barbara Walters had one goal in mind in 1997: Gather together a panel of multigenerational women around a table to discuss hot topics of the day. What she got was highly successful and groundbreaking morning television, wrapped up in an intricate web of drama. In Ladies Who Punch: The Explosive Inside Story of “The View” (Thomas Dunne Books), award-winning journalist Ramin Setoodeh offers readers a backstage look of what really went on behind-the-scenes of the transformative talk show. With unprecedented access with nearly every host, Setoodeh paints a vivid and informative picture of the highs and lows of the last 20 years from several different perspectives. The show’s beginnings are chronicled through Walters’s viewpoint. From auditioning the inaugural hosts to pioneering an ideal rhythm for the show, Walters had a lot on her plate juggling her new job and other duties at ABC. Even when executives and critics said it couldn’t be done, Walters triumphed with the help of broadcast journalist Meredith Vieira, attorney Star Jones, comedian Joy Behar and rookie Debbie Matenopoulos.

Novel revisits culture wars, AIDS crisis By Kendal Weaver The Associated Press A DEADLY school shooting serves as a pivotal event in The Spectators (Random House), a novel that revisits American cultural wars and crises in the last decades of the 20th century. Mostly set in New York City, the novel looks at this period through the experiences of two wholly different characters: a gay man, Semi, who is a playwright grappling angrily and poignantly with the AIDS crisis; and an unhappy young woman, Cel, a publicist for a wildly successful and hated television talk show featuring increasingly bizarre guests. Told in alternating sections about Semi and Cel that move back and forth in time, the meandering narrative revolves around a central figure, Matthew Miller. He’s a calm but crusading lawyer and politico who makes a run for mayor of New York City before switching careers and hosting The Mattie M Show. His show’s freakish subjects, such as devil worship and incest, ignite on-set threats and violence that may or may not be real. But fake or not, the show draws huge ratings and voluble scorn—even a claim that Mattie M, through its riveting media

mayhem, is responsible for the two teenage students who opened fire in a high school classroom. As one of the shooters explains: “I didn’t know it was real.” The Spectators, the third novel by the well-regarded author Jennifer duBois, often thrums with vibrancy and echoes divisive current events as it covers a timeline from the late 1960s to the early 1990s. It also gains momentum when the plot takes a sudden, sinister twist—a threat of blackmail, a shooter’s potentially explosive letter, a secret taping. But it can turn tedious when the prose is overly embellished or a scene goes on too long. Through Semi, the novel looks back at the gay sexual revolution and the anguish of AIDS in the 1980s. Semi says one of his plays was a “modestly elegiac retrospective of what had happened.” In sections of The Spectators, however, his words are a searingly felt remembrance. For Cel, the distress in part is over the ugly faux media environment she wants to flee. Cel and Semi don’t know each other and move mostly in different circles, but Matthew Miller, a.k.a. Mattie M, is connected to both—he was Semi’s secret lover—and is the key unlocking the narrative as their stories converge.

PUBLISHERS PLAN BOUND EDITIONS OF MUELLER REPORT NEW YORK—When Attorney General William Barr releases a redacted version of special counsel Robert Mueller’s report on the Russia investigation, several publishers will be ready to put it out in book form. Barr has notified Congressional leaders that he expects to send them his report by mid-April. Mueller’s findings are nearly 400 pages excluding tables and appendices, and Barr said that material removed will include information related to ongoing investigations or that compromise sensitive sources. He added that President Donald J. Trump would not be reviewing the report in advance. Government studies are not copyrighted and can be published by anyone. Melville House, Skyhorse Publishing and Scribner, in conjunction with The Washington Post, are among those with both print and digital editions planned, within two weeks or less of the report coming out. As with previous releases such as The 9-11 Commission Report, the Mueller text also will likely be available for free from a government web site, but publishers plan to add their own analysis. The Skyhorse book will include an introduction by attorney Alan Dershowitz, a frequent Trump defender. The Scribner release will feature commentary from the Post’s staff.

Melville House plans no analysis, saying the report should be seen “as is.” “It’s supposed to be a nonpartisan document, and readers should be given the respect of experiencing it without someone digesting it for them,” Melville publisher Dennis Johnson said in a statement, Barr’s summary of Mueller’s highly anticipated report said that the investigation didn’t find a criminal conspiracy between Russia and Trump’s campaign to swing the 2016 presidential election. Mueller’s report did not reach a conclusion on whether Trump obstructed justice, but Barr said he and Deputy Attorney General Rod Rosenstein decided on their own that Mueller’s evidence was insufficient to establish that the president committed obstruction. Some government publications have become popular books, notably the Warren Commission report on President John F. Kennedy’s assassination and the Starr Report on President Bill Clinton’s affair with White House intern Monica Lewinsky. An edition of the 9-11 Commission study, published in 2004, was a million seller and a finalist for the National Book Award. As of Friday afternoon, the Scribner and Skyhorse editions of the Mueller report were in the top 1,000 on Amazon.com. AP

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jon Cryer, 54; Martin Lawrence, 54; Ellen Barkin, 65; Kareem AbdulJabbar, 72. HAPPY BIRTHDAY: Do your best; no one will be able to complain. Take control and put your heart and soul into everything you do. If you let others push you into arguing instead of solving problems this year, you’ll have only yourself to blame. Only share what’s necessary when the time is right. Preparation and organization will be mandatory. Your lucky numbers are 2, 9, 14, 21, 24, 36, 44.

ARIES (March 21-April 19): Listen and use what’s said to negotiate on your own behalf. A meeting, business trip or dealing with people in an authoritative position will help you uncover what’s possible and what’s best left alone. HHH

TAURUS (April 20-May 20): You don’t have to spend in order to make an impression. Use your intelligence, experience and ability to persuade others to support your efforts. A budgetfriendly idea will be inviting and less stressful. Romance is on the rise. HHHHH

GEMINI (May 21-June 20): Anger and aggression aren’t the answers. Gather facts before you respond. Getting caught in a senseless disagreement will lead to a missed opportunity. Focus on what’s possible and positive, not negativity and unrealistic ventures. HH

CANCER (June 21-July 22): It’s time to tie up loose ends and display what you have to offer. New beginnings, ventures and partnerships look promising and should bring high returns. Home improvements will make your life easier and encourage you to host more events. HHHH

LEO (July 23-Aug. 22): Be aware of what others are going through before you make a judgment call. Acting on an assumption will put you in an awkward position when faced with the whole truth. Take a closer look at your options, and remain neutral. HHH

VIRGO (Aug. 23-Sept. 22): A clean break is in your best interest. If your time is tied up arguing or being emotionally manipulated, it will be difficult to take advantage of potential opportunities. HHH

LIBRA (Sept. 23-Oct. 22): Going out with someone you haven’t before will be eyeopening. Learn from new experiences. You will find it easier to deal with problems that have been going on for too long. A change will help put your life in perspective. HHH

SCORPIO (Oct. 23-Nov. 21): Learn as you go. Stretch your mind and reach for the stars. The people you associate with should encourage you, not hold you back or take advantage of your insight or your generosity. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Your optimism may be your downfall if you are gullible. Ask questions, and be resourceful when it comes to matters that can affect your personal, emotional or financial well-being. Protect against theft, lies and damage to your reputation. HH

CAPRICORN (Dec. 22-Jan. 19): Set the pace, and keep moving until you reach your destination. Your insight and ability to finish what you start will make an impression on someone who can contribute to your success. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Don’t make a fuss. It’s best to take care of your responsibilities so you can move on the projects that excite you. Make alterations at home that will prompt you to get back to doing what makes you happy. HHH

PISCES (Feb. 19-March 20): Share your feelings, and put any emotional problems to rest. Knowing where you stand will help you move forward. A partnership will take a favorable turn that will encourage you to proceed with greater confidence and a solid plan for the future. HHH BIRTHDAY BABY: You are secretive, cautious and industrious. You are sensitive and perceptive.

‘mind your manners’ BY TODD GROSS The Universal Crossword/Edited by David Steinberg

ACROSS 1 “Believe” singer, 1998 5 Get distorted 9 Olympic sword 13 Give off light 14 Backside 15 Vein of ore 16 Caring person (note each starred answer’s first word) 19 Suffix for “finish” 20 World’s fair 21 Potion holder 22 Cocktail with rum and lime 24 Tom, Dick and Harry 25 TV brand 28 Make sense of the world 32 Military attack 33 Lawsuit basis 34 Ham it up 37 Expert 38 Cheap college meal 39 Fit to stand trial 40 Entry point 42 They form letters

5 Hotel-rating org. 4 46 Portrait or landscape 47 Coming up 50 Mexican food truck order 52 Stoop (down) 54 A long, long time 55 Source of entertainment? 59 Portable music player 60 “___ it going?” 61 Bit of color 62 Brazilian soccer legend 63 Royals manager Ned 64 Certain waffle DOWN 1 Most populous country 2 Tennis champion Martina 3 Finish line 4 Practice 5 Cover with paper 6 “Dynamic” lead-in 7 Long-tailed rodent 8 Nip in the bud 9 Frozen queen 10 Place to play nine-ball

1 End of UCLA’s URL 1 12 Slippery fish 13 Low-fat milk choice 17 They’re on the way out 18 Small dent 23 Exactly 24 Address for a nobleman 26 Remedy 27 Memo abbr. 29 Use one’s last chip 30 Lake Michigan neighbor 31 Put down roots 34 This, in Tijuana 35 SNL alum Rudolph 36 Watching over a neighborhood, say 38 Yard sale’s backup time 40 Toto’s owner 41 Like 2 + 2 = 5 43 Many an emoji 44 ___-eye dog 48 Central African river 49 Leg joint 51 Senator’s assistant 52 X5 and i8 cars

3 It’s right on the map 5 55 Red carpet figure, briefly 56 Orangutan, e.g. 57 “___-hoo!” 58 Swerve

Solution to yesterday’s puzzle:

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Tuesday, April 16, 2019

Amazon: Woody Allen’s #MeToo comments wrecked movie deal NEW YORK—Woody Allen breached his four-movie deal with the online giant by making statements about the #MeToo movement that damaged prospects for promoting his films, an Amazon lawyer said on Friday. Attorney Robert Klieger told US District Judge Denise Cote that the company protected itself after Allen made “public comments that at a minimum were insensitive to the #MeToo movement.” The hearing was related to a lawsuit Allen filed in February seeking at least $68 million in damages. The lawsuit said Amazon ended his 2017 contract in June without ever releasing a completed film, A Rainy Day in New York. Allen was not in court. John Quinn, his lawyer, told the judge that Seattle-based Amazon initially claimed it was ending the deal because of allegations made against Allen, not because of his recent statements. “The baseless allegations against Mr. Allen are decades old,” Quinn said. He added that the claims were well known when Amazon signed its deal with Allen in August 2017. Allen’s adopted daughter, Dylan Farrow, said in 1992 that Allen molested her in an attic when she was 7. Allen has repeatedly denied it. In 2014, Farrow wrote about the allegations and then appeared in an interview early last year for the first time. Quinn said Amazon has since changed its explanation for terminating the contract to blaming Allen for making statements saying that the #MeToo movement should not become a witch hunt. The lawyer said the company had also cited claims that people in the industry won’t work with Allen. Regardless, Quinn said, Allen planned to produce a new movie this summer. In court papers, Amazon noted that Allen’s son, Ronan Farrow, published an article in The New Yorker just weeks after the company signed its contract with Allen. The article detailed reports of sexual misconduct against movie producer Harvey Weinstein. Weinstein has denied nonconsensual sexual conduct occurred. “The article became the catalyst for a broad reckoning over the persistence of sexual harassment in entertainment and other industries,” Amazon’s lawyers wrote. They said Allen then made a series of public comments “suggesting that he failed to grasp the gravity of the issues or the implications for his own career.” They cited several quotes by Allen in a magazine article including: “You don’t want it to lead to a witchhunt atmosphere, a Salem atmosphere, where every guy in an office who winks at a woman is suddenly having to call a lawyer to defend himself.” They also noted that after Dylan Farrow recounted her memories of sexual abuse in January 2018, Allen publicly dismissed the statements in a newspaper article as “cynically using” #MeToo for attention. Klieger told the judge Allen’s public comments resulted in controversy “in Hollywood and outside of Hollywood.” The effect of the comments mean the pictures can no longer be made or promoted, Klieger said. After hearing both lawyers, the judge set a case schedule stretching into next year. Allen and possibly Amazon founder Jeff Bezos, among others, were likely to provide depositions unless the case is resolved through private mediation in coming weeks. AP

LIONSGATE and Millennium’s Hellboy had been expected by many to vie with Shazam! on the weekend, but it flopped with $12 million against a $50-million budget, significantly less than the debuts of the 2004 original ($23 million opening) and the 2008 sequel ($34.5 million opening).

‘Shazam!’ bests newcomers with $25.1M second weekend

By Jake Coyle The Associated Press

EW YORK—A rush of newcomers couldn’t shake Shazam! from the top spot, as the superhero comedy led the box office for the second straight weekend with $25.1 million in ticket sales, according to studio estimates on Sunday. Lionsgate’s Hellboy reboot, the animated Laika Studios release Missing Link, the college romance After and even the long-delayed Mary Magdalene, originally to be released by the Weinstein Co., all opened in theaters. But the strongest new release of them all was, predictably, the Will Packer-produced one: Little. The body-swap comedy Little came in second with $15.5 million for Universal Pictures. Made for just $20 million, Little is just the most recent profit-maker for Packer, the Girls Trip producer. The film, directed by Tina Gordon Chism, stars 14-year-old Marsai Martin as the child an abusive tech executive (Regina Hall) reverts to after a magical spell is cast on her. Martin, the black-ish star, also executive produced the film, the youngest ever so credited in Hollywood history. Little drew a largely female (65 percent) and African

American (43 percent) audience. Jim Orr, Universal Pictures distribution chief, credited the cast, Chism’s direction and Packer’s overall know-how. “He’s done it with different kinds of films. Breaking In was a thriller, Girls Trip was an R-rated comedy. Little is kind of an all-ages film, PG-13 rated,” said Orr, whose studio signed a first-look deal with Packer in 2013. “He’s a brand. And he has a great idea of what is going to be successful at the box office.” It was an out-of-body weekend at the box office. The body-swap comic-book adaptation Shazam!— about a teenage boy (Asher Angel) who can turn into an adult-sized superhero (Zachary Levi) with a simple command—held solidly in its second week. Capitalizing on good reviews and word-of-mouth, Shazam! is Warner Bros.’s New Line’s latest DC Comics success. It has grossed $94.9 million through Sunday with a worldwide total of $258.8 million. Lionsgate and Millennium’s Hellboy had been expected by many to vie with Shazam! on the weekend. But on the heels of terrible reviews (just 15 percent “fresh” on Rotten Tomatoes), it flopped with $12 million against a $50-million budget. That’s significantly less than the debuts of the 2004 original ($23 million opening) and the 2008 sequel ($34.5 million opening). Those films were directed by Guillermo de Toro and starred Ron Perlman; the new Hellboy stars David Harbour (Stranger Things) and is directed by Neil Marshall. Missing Link also missed. It opened with a disappointing $5.8 million, marking a new low for Laika, the maker of eccentric animated tales, such as Coraline, ParaNorman and Kubo and the Two Strings. Missing Link, distributed by United Artists Releasing, is about the discovery of a creature in the Pacific Northwest. Its voice cast includes Zach Galifianakis, Hugh Jackman and Zoe Saldana. Expectations had varied widely for Aviron Pictures’s After, an adaption of Anna Todd’s 2014 best seller. The young-adult drama fared well with $6.2 million in 2,138 theaters.

And Mary Magdalene, starring Rooney Mara as Mary and Joaquin Phoenix as Jesus, finally opened, more than three years after production. Harvey Weinstein had once conceived of the film, directed by Garth Davis (Lion) as his next Oscar contender. After the fallout of Weinstein and the bankruptcy of the Weinstein Co., IFC Films acquired the biblical biopic. Critics dismissed it (44 percent fresh on Rotten Tomatoes) and audiences mostly did, too. It grossed about $62,000 on 62 screens. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore. Where available, the latest international numbers for Friday through Sunday are also included. 1. Shazam!, $25.1 million ($35.9 million international) 2. Little, $15.5 million ($1.9 million international) 3. Hellboy, $12 million ($10.1 million international) 4. Pet Sematary, $10 million ($12.6 million international) 5. Dumbo, $9.2 million ($22 million international) 6. Captain Marvel, $8.6 million ($8 million international) 7. Us, $6.9 million ($4.4 million international) 8. After, $6.2 million ($11.7 million international) 9. Missing Link, $5.8 million ($8.9 million international) 10. The Best of Enemies, $2 million. Estimated ticket sales for Friday through Sunday at international theaters (excluding the US and Canada), according to comScore: 1. Shazam!, $35.9 million 2. Dumbo, $22 million 3. P Storm, $19.6 million 4. Pet Sematary, $12.6 million 5. After, $11.7 million 6. Wonder Park, $11.2 million 7. Andhadhun, $10.4 million 8. Hellboy, $10.1 million 9. Captain Marvel, $8 million 10. The Crimes That Bind, $4.4 million. n

FAVREAU GIVES ‘STAR WARS’ FANS 1ST LOOK AT ‘THE MANDALORIAN’

‘HOMECOMING: A FILM BY BEYONCÉ’ BOW ON NETFLIX THE documentary Homecoming presents an intimate look at Beyoncé’s historic 2018 Coachella performance that paid homage to America’s historically black colleges and universities. Interspersed with candid footage and interviews detailing the preparation and powerful intent behind her vision, Homecoming traces the emotional road from creative concept to cultural movement. It is now being streamed on Netflix.

UST SYMPHONY ORCHESTRA PERFORMS IN BATAAN The University of Santo Tomas Symphony Orchestra, one of

the resident companies of the Cultural Center of the Philippines for music, performed before an enthusiastic crowd at the Plaza Mayor in Balanga City recently as part of the two-week long celebration of Bataan. The event, billed as “Ika-77 Taong Paggunita sa Araw ng Kagitingan,” was organized by the Bataan Peninsula Tourism Council Foundation Inc. (BPTCFI) to commemorate the valor of Filipino veterans in 1942. The recent concert of the USTSO was part of the flagship program of the CCP President Arsenio J. Lizaso. The USTSO played a two-part repertoire featuring classical music for the first part under the baton of Renato Lucas, and light classics and popular tunes for the last section which was led by Herminigildo G. Ranera. The orchestra was founded by Dr. Manuel Casas, a medical doctor, in 1927. In 1961, the USTSO was reorganized by National Artist for Music Antonio R. Buenaventura, known for his extensive research on folk songs and dances in collaboration with National Artist for Dance Francisca Reyes-Aquino. Ranera is the principal conductor and artistic director of the USTSO. Renato Lucas and Reynato Resurreccion are associate conductors of the orchestra.

NEW YORK—Jon Favreau gave fans their first look at the The Mandalorian at the Star Wars Celebration in Chicago on Sunday, previewing the most anticipated series yet from the galaxy far, far away. Favreau’s eight-episode series will debut on the DisneyPlus streaming service on November 12. It’s set in the aftermath of The Return of the Jedi, taking place five years after the Rebellion’s victory. Favreau premiered behind-the-scenes clips and some finished footage to attendees. The series stars Pedro Pascal as the title character, a lone gunfighter the actor compared to a Western or samurai hero. It costars Gina Carano as a character named Cara Dune and Carl Weathers as a bounty hunter named Greef. Werner Hergog and Giancarlo Esposito also costar. Favreau called himself “a product of a Star Wars imagination” who was eager to plunge into the post-Jedi landscape. “You have vestiges of the Empire. You have only the strong surviving. You have chaos taking over the galaxy,” Favreau said. On Friday, Lucasfilm debuted the trailer for next theatrical Star Wars film, The Rise of Skywalker. AP

Tuesday, April 16, 2019

Art

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Textured memories

For her second solo show, titled ‘Circa,’ Lui Gonzales interprets memories through papers drawn, torn and layered. CIRCLES JT NISAY

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IME hears no plea. There is no way to navigate it other than through its unforgiving linear progression; not backward to right a wrong, not forward to foresee the right. It can, however, be paused— captured, even—and preserved in the form of a memory. Whenever Lui Gonzales recognizes a notable peculiarity, the young artist does just that: She stops time by capturing the moment on camera. “I take photos and decide kung ano ’yung images na interesting, like crowd na may mga kakaibang detalye, such as clothing patterns, hair or facial expressions,” the 25-year-old visual artist said. But what Gonzales hopes to photograph from scenes that pique her interest is something beyond the purposes of documentation. She doesn’t do it to just create a memory. She does it to critique the very concept of it. The results are 13 outstanding pieces of layered drawings that comprise her ongoing second solo show, titled Circa, at ArtistSpace in Ayala Museum Annex in Makati, organized by Kaida Contemporary Gallery. The exhibit runs until April 27. Through papers drawn on, torn apart and layered together, Gonzales tackles the fleetingness and the fate of memories as fragmented pieces of an event once whole and alive, but is now barely clinging on the consciousness, on the brink of being forgotten. But pieced together with other memories, even those of different scenes, the layers, the fragments, create a new image altogether. Such is displayed in the biggest piece of the show, which measures 72x42 inches, titled Crowded. Depicted are different sets of people from different

HEY Andy, Lui Gonzales, 2019, pen and ink on tracing papers, 61x46 cm

locations that appear to be relating in one place. “Ginagawan ko ng texture ’yung memory,” Gonzales said. “Naaliw ako sa idea na parang nandun ka sa iba’tibang lugar, pero napi-picture mo siya sabay-sabay, tapos ’yung mga tao na parte ng eksensa na ’yun, ’pag pinagsama mo sila, parang nagi-interact sila with each other.” This interaction isn’t limited within the characters of one piece. Gonzales cited the men shown in Conversational, her real-life friends, that appear to be talking with the women in Girl Talk, a piece where the artist used sepia for the first time after using mostly black and white. It’s a color that evokes memory and days past, making it perfect for the exhibit’s theme. The tedious multilayer work is a technique the artist developed in college at the University of the

SPECTATORS, Lui Gonzales, 2019, pen and ink on tracing papers, 91x122 cm

Philippines Diliman for a plate about identity. Using charcoal on craft paper, she drew portraits of her family and pieced them together in layers, saying “we are a composite of everyone we meet.” For this exhibit about memories, Gonzales started her process by choosing the best photos she has taken of places she frequented, like bars and galleries. Often, she’ll discover important details of the crowd and the place during her photo reviews that she missed during the shoot. She then drew the photos individually on tracing paper after deciding how many layers of drawings would be included in the piece. The usual number is between five and 10. (For her thesis in college, she once made a 32-layer work that took a year to finish.) One layer went on top of the other, as she filled

in the blanks of the one below. She used a cutter to puncture a drawing and ripped the cut by hand as she deemed fit. The layers were piled and stapled together from underneath. “Nakakakaba na nakaka-excite ’yung proseso,” Gonzales said. “Habang dino-drawing ko, excited ako sa part na pupunitin ko na. At the same time, scary din.” For Raymond Escoto Carlos of Kaida, he prefers another word in describing Gonzales’s process. “It’s very courageous,” he said. “Her works are setting bars in terms of the use of paper and drawings. I think nobody expected that someone would layer works, tear them apart, present that as the final output and become outstanding visually.” Carlos added: “I don’t think she will stop anytime soon, or ever.” n

8 things you may not know about Leonardo da Vinci, on the 500th anniversary of his death hygiene. Michelangelo created some of the greatest paintings in history, including the ceiling of the Sistine Chapel, and many considered his David the greatest sculpture ever produced, a triumph he lorded over his older rival.

By RicHaRd GUndeRMan Indiana University THIS year marks the 500th anniversary of Leonardo da Vinci’s death. Widely considered as one of the greatest polymaths in human history, Leonardo was an inventor, artist, musician, architect, engineer, anatomist, botanist, geologist, historian and cartographer. Though his artistic output was small, Leonardo’s impact was great, reflecting his deep knowledge of the body, his extensive studies of light and the human face, and his sfumato (Italian for “smoky”) technique, which allowed for incredibly lifelike images. Leonardo regarded artists as divine apprentices, writing: “We, by our arts, may be called the grandsons of God.” Twenty-first-century scholars at MIT ranked him the sixth most influential person who ever lived. Like Rembrandt and Michelangelo, he is so renowned that he is known by only his first name. Yet, despite his fame, there are things about Leonardo that many people today find surprising. SHADY PARENTAGE LEONARDO was born out of wedlock on April 15, 1452. His father, Piero, was a wealthy notary, and his mother, Caterina, was a local peasant girl. Although the circumstances of his birth would place Leonardo at a disadvantage in terms of education and inheritance, biographer Walter Isaacson regards it as a terrific stroke of luck. Rather than being expected to become a notary like his father, Leonardo was instead free to develop the full range of his genius. People surmise that it also imbued him with a special sense of urgency to establish his own identity and prove himself. PHYSICAL BEAUTY LEONARDO created some of the world’s most beautiful works of art, including Last Supper and Mona Lisa. In his own day, he was known as an exceptionally attractive person. One of Leonardo’s biographers describes him as a person of “outstanding physical beauty who displayed infinite grace in everything he did.” A contemporary described him as a “well proportioned, graceful, and good-looking man” who “wore a rose-pink tunic” and had “beautiful curling hair, carefully styled, which came down to the middle of his chest.” Leonardo is thought to

ROYAL ADMIRER SOON after King Francis I of France captured Milan in 1516, Leonardo entered his service, spending the last years of his life in a house near the royal residence. When death came to Leonardo on May 2, 1519, at the age of 67, it is said that the king, who loved to listen to Leonardo talk so much that he was hardly ever apart from him, cradled his head as he breathed his last. Years later, reflecting on his friendship with the great man, King Francis said, “No man possessed such a knowledge of painting, sculpture, or architecture as Leonardo, but the same goes for philosophy. He was a great philosopher.”

have entered into long-term and possibly sexual relationships with two of his pupils, both artists in their own right. FROM SCRAPS TO NOTEBOOKS THE paintings generally attributed to Leonardo number fewer than 20, while his notebooks contain over 7,000 pages. They’re the best source of knowledge about Leonardo, housed today in locations such as Windsor Castle, the Louvre and the Spanish National Library in Madrid. Their diverse content ranges across drawings—most famously, Vitruvian Man—notes of things he wanted to investigate, scientific and technical diagrams, and shopping lists. They comprise perhaps the most remarkable monument to human curiosity and creativity ever produced by a single person. Yet, when Leonardo penned them, they were just loose pieces of paper of different types and sizes. His friends bound them into “notebooks” only after his death. OUTSIDER’S EDUCATION AS a result of his illegitimacy, Leonardo received a rather rudimentary formal education consisting primarily of business arithmetic. He never attended university and sometimes referred to himself as an “unlettered man.” Yet, his lack of formal schooling also freed him from the constraints of tradition, helping

to instill in him a determination to question authority and place greater reliance on his own experience than opinions expressed in books. As a result, he became a firsthand observer and experimenter, uninterested in serving as a mouthpiece for the classics. PROLIFIC PROCRASTINATOR ALTHOUGH Leonardo’s mind was extraordinarily fertile, he was also an inveterate procrastinator and even quitter. He frequently took months or years to begin work on commissions, sometimes keeping patrons at bay with lofty pronouncements regarding his creative process. A giant equestrian statue for the duke of Milan, requiring 70 tons of bronze to cast, might have been his grandest work—if it had ever been completed. Yet, a decade after the 1482 commission, Leonardo had produced only a clay model which was subsequently destroyed when invading French soldiers used it for target practice. RIVALROUS MOTIVATIONS LEONARDO’S life overlapped those of two other Renaissance giants Michelangelo and Raphael—but it was Michelangelo who stoked an intense rivalry. The contrast between the two men could hardly have been sharper. Leonardo was elegant and evinced little interest in matters religious, while Michelangelo was deeply pious yet neglectful of his appearance and

SKYROCKETING VALUE IN November 2017, one of the paintings attributed to Leonardo, Salvator Mundi (Savior of the World), set the record for the most expensive painting ever sold, fetching $450 million. Painted in oil on walnut in about 1500, it depicts Jesus offering a benediction with his right hand while holding a crystalline orb that appears to represent the cosmos in his left. The painting had suffered from neglect and poor restorations, and was long assumed to be the work of one of Leonardo’s students, selling as recently as 2005 as part of the estate of a Baton Rouge businessman for less than $10,000. Its current whereabouts are unknown. ONE OF A KIND, ADMIRED THEN AND NOW JUST a half-century after Leonardo’s death, the biographer Vasari beautifully summed up his enduring significance: “In the normal course of events many men and women are born with remarkable talents; but occasionally, in a way that transcends nature, a single person is marvelously endowed by heaven with beauty, grace, and talent in such abundance that he leaves other men far behind, all his actions seem inspired, and indeed everything he does clearly comes from God rather than from human skill.” Five hundred years after Leonardo’s death, these words still ring true. AP