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3 FOREIGN FIRMS KEEN ON HANJIN’S ASSETS

THE Hanjin shipyard is seen from across Redondo Bay in this BusinessMirror’s February 2019 photo.

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HREE foreign investors are in the advanced stages of acquiring the country’s largest shipyard, operated by bankrupt Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), and no Chinese firm is on the list. Trade Undersecretary Ceferino S. Rodolfo disclosed three offshore shipbuilders vowed to come up with studies and a business proposal in a shot to take over Hanjin’s facilities in Subic Bay. However, none of these three prospective white knights come from China, in spite of the government’s earlier statement that two Chinese firms are looking to bail Hanjin out of its financial mess. “Those who committed that they will come up with studies, with a business pro-

NONIE REYES

HOWEVER, security experts, including former Navy Chief Alexander P. Pama, warned the government it will compromise national security should it allow China to take over the shipbuilder’s facilities in Subic Bay. The shipyard sits at a strategic area near West Philippine Sea, where Beijing has been building up military presence and harassing Filipino fishermen. Pama argued the shipyard can be turned into a naval base and a maritime facility, making it a crucial asset for the Philippines that the government should take care of. “The ownership of Hanjin shipyard in Subic Bay will give the owners unlimited See “Hanjin’s assets,” A2

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A broader look at today’s business n Tuesday, April 23, 2019 Vol. 14 No. 195

PHL current account gap seen narrowing T By Bianca Cuaresma

@BcuaresmaBM

HE country’s current account balance is projected to improve in the coming years, but it will still be in deficit up until 2024, according to data from the International Monetary Fund (IMF).

In the IMF’s assessment of the world economy as published in the April 2019 World Economic Outlook, the global monetary authority forecast a downtrend in the country’s current-account deficit from last year’s level. From a deficit equivalent to 2.6

percent of GDP in 2018, the IMF projected that the country’s current account would fall to 2.2 percent of GDP this year. For next year, the IMF projects the country’s current-account deficit to hit 1.8 percent of the country’s GDP.

An economy’s current account is the largest and most consistent part of its balance of payments (BOP). The Philippines has incurred a deficit in recent quarters after years of being in the surplus territory due to the rise in its importation bill following the government’s drive

2.2% of GDP The Philippines’s projected current-account deficit this year to ramp up construction and infrastructure in the country. In its report on the BOP balance, the Bangko Sentral ng Pilipinas (BSP) confirmed that the larger current-account deficit in 2018 developed as the widening deficit in the trade-in-goods account more than offset the higher net receipts posted in the trade-in-services, and primary and secondary income accounts. The IMF said the currentaccount deficit as a percentage of the country’s GDP is expected to hit 1.4 percent by 2024. See “Current account,” A3

‘Best time’ to invest in PHL– DOF chief @ReaCuBM

HE Department of Finance (DOF) has invited the American business community to invest in the Philippines during its “best time,” as the country’s prospects for faster economic growth in the coming years should be an avenue for stronger collaboration with the United States, especially with the private sector. Finance Secretary Carlos G. Dominguez III told leaders of the American business community during a roundtable luncheon

SHAKEN Traffic stands still and people fill Ayala Avenue, the main thoroughfare of Makati’s Central Business District, minutes after a 6.1 magnitude earthquake hit parts of Luzon and Metro Manila late Monday afternoon, killing at least five people, damaging public and private infrastructure and halting train operations. Story and more photos on page A12. NONIE REYES

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Why not penalize political turncoats? Manny F. Dooc

TELLTALES

HREE babies are born every minute in the Philippines, according to the Population Commission. Our population has been growing steadily over the years. While the birth rate at 1.72 percent has decreased compared to previous decades, it’s still one of the highest in the world. We are now the 13th most populous country and based on official estimates, our population will hit 108.11 million in 2019. Overall, factoring the births, deaths and migration, we have a net gain of one person every 20 seconds, or three persons every minute. Continued on A11

Did power firms collude in outages? PCC probing By Elijah Felice E. Rosales

By Rea Cu

See “DOF chief,” A9

Security concerns

posal—and of course, they have to give this to the banks because they control Hanjin’s assets—are [Dutch] Damen Group, [French] Naval Group and a consortium of American firms,” Rodolfo said in an interview with reporters last week. HHIC-Phil in January filed for corporate rehabilitation, after struggling to pay $412 million in loans to five domestic banks. Investment officials are searching far and wide to try and save the shipyard that once employed over 30,000 workers. Days after HHIC-Phil sought help from the courts, Rodolfo told reporters two Chinese firms—one in the production of commercial vessels, the other in small ships—are eyeing the shipyard.

@alyasjah

HE country’s competition regulator on Monday declared it will investigate power-generation firms for alleged collusion in the face of successive plant shutdowns that may have contributed to price hikes in the retail electricity market. The Philippine Competition Commission (PCC) said it will look into allegations of collusion or abuse of dominance against power-generation firms for the spate of plant outages in Luzon. In a statement, it said the string of shutdowns among power plants may have resulted in higher prices reflected in electricity bills of consumers. Last week the Luzon power grid was placed under red alert for three consecutive days, of which the last was on Good Friday, after an unexpected outage at a plant in Limay, Bataan. As a result, rotational brownouts were experienced in many parts of Luzon, including Manila, Quezon City, Bulacan and Pampanga. The PCC asserted that these outages should be probed to assess

Under the Philippine Competition Act, the PCC is mandated to promote fair market competition, prohibit anticompetitive behavior among businesses across sectors, including the power sector, and advance consumer welfare in the process.” —PCC Statement whether they were orchestrated to manipulate electricity prices, or were legitimate unplanned breakdowns that affect supply conditions. “Under the Philippine Competition Act, the PCC is mandated to promote fair market competition, prohibit anticompetitive behavior among businesses across sectors, including the power sector, and advance consumer welfare in the process,” the statement read. Further, the PCC warned power producers from engaging in anticompetitive or collusive behavior.

n JAPAN 0.4630 n UK 67.3219 n HK 6.6043 n CHINA 7.7260 n SINGAPORE 38.2302 n AUSTRALIA 36.9866 n EU 58.2565 n SAUDI ARABIA 13.8153

See “PCC,” A2

Source: BSP (22 April 2019 )

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5 PHL-China pacts eyed at Belt-Road forum

By Bernadette D. Nicolas

@BNicolasBM

HE Philippines and China may sign five bilateral agreements on the sidelines of the second Belt and Road forum for International Cooperation to be attended by President Duterte in Beijing this week. These deals, which are still being finalized, will focus on various areas such as education, anti-corruption, official development assistance, as well as drug rehabilitation, according to Assistant Secretary for Asian and Pacific Affairs Meynardo LB. Montealegre. “Well, we are looking at some possible agreements in the areas of education, anti-corruption, official development assistance, as well as drug rehabilitation. But final— it’s in the final stages of consultations,”

Montealegre said in a Palace briefing on Monday. The PACC earlier announced that it is set to sign a memorandum of understanding with its Chinese counterpart, the National Commission for Supervision. Aside from President Duterte, 39 other leaders and heads of international organization are invited to attend the forum, to be held from April 25 to 27. The DFA official also confirmed that President Duterte is scheduled

to have a bilateral meeting with Chinese President Xi Jinping, as well as Premier Li Keqiang on April 25. The President’s attendance at the forum comes at a time that the Philippines is protesting the presence of Chinese vessels in the West Philippine Sea. However, Montealegre said he cannot speculate on whether the President will raise the issue with his Chinese counterpart. “But in the meeting with President Xi Jinping, they are expected of course to chart the course of further development of bilateral relations in various areas like defense, security, economics and development, as well as regional and international issues of mutual importance,” he said. “And with Premier Li Keqiang, they are expected to discuss a more detailed cooperation in various areas including infrastructure, trade and investment, people-to-people relations, as well as regional cooperation. Nonetheless, he gave assurances that the President will stick to the

The number of other leaders and heads of international organizations invited, like Duterte, to attend the forum, to be held from April 25 to 27 Philippine interest when it comes to the territorial dispute. On April 25, the first day of the forum, 11 parallel thematic subforums and a CEO conference will be held, to be participated in by ministers and officials, as well as invited companies. On the second day, April 26, an opening session and a high-level meeting exclusive to the leaders are slated. The President is also one of the lead speakers at the Leaders’ Roundtable scheduled on April 27. The main outcome document— a joint communiqué of the Leaders’ Roundtable of the second Belt and

Road Forum—is also currently being negotiated among participating countries. The One Belt, One Road, or Belt and Road Initiative has been a major policy of Chinese President Xi Jinping since it was announced in 2013. It envisions global connectivity through infrastructure, facilitation of free trade, financial integration and people-to-people exchanges. Those invited by the Chinese government on the Philippine side to attend the thematic forums in the morning include: Socioeconomic Planning Secretary Ernesto M. Pernia, Philippine Airlines Chairman and CEO Lucio Tan, Finance Secretary Carlos G. Dominguez III, Banco de Oro Universal Bank President and CEO Cecilia L. Tan, Former House Speaker and founding Chairman of International Conference of Asian Political Parties Jose de Venecia Jr., Philippine Institute for Development Studies President and CEO Celia M. Reyes, Presidentia l A nti- Cor r uption

Commission Chairman Dante Jimenez, Bases Conversion and Development Authority President and CEO Vivencio Dizon, BCDA Executive Vice President Aileen Anunciacion R. Zosa and BCDA Vice President Joanna Eileen M. Capones. Meanwhile, the Philippine delegation invited to attend the afternoon forums are: Department of Information and Communications Technology Acting Secretary Eliseo M. Rio Jr., Wellex Group Chairman William Gatchalian, Udenna Group CEO Dennis Uy, Trade Secretary Ramon Lopez, Bureau of Internal Revenue Commissioner Caesar R. Dulay, Tourism Secretary Bernadette Romulo Puyat, local government unit Cebu Administrator Nigel Paul C. Villarete, LGU Davao information technology officer Rowena Henedine Dominguez-Narajos, Manila Electronic Data Processing Center Director Mario Z. Oblefias, Science Assistant Secretary Leah J. Buendia, Ilocos Sur Gov. Ryan Luis V. Singson and Pampanga Gov.Lilia G. Pineda.

Veto won’t have huge impact House to DBM: Bare agency budget ceilings on district project–Palace By Jovee Marie N. dela Cruz

ALACAÑANG is disputing a lawmaker’s claim that President Duterte’s veto of the P95.3-billion appropriations in the 2019 budget will have a huge impact on his district as it insisted that the Palace stands by its decision that those that were vetoed were unconstitutional and not within programmed priorities. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said on Monday that he “definitely” disagrees with the claim of Malabon Rep. Federico Sandoval II. Sandoval said it was such a waste that these appropriations were vetoed and that these will have a huge impact for his district. Asked if he agrees that vetoing the items will largely affect some districts, Panelo said: “Not really because the DPWH [Department of Public Works and Highways] has a program. DPWH should know what is the priority.” Panelo reiterated the President’s position that those items cannot be approved since these were not part of DPWH’s program, hence, they violate the Constitution. Nonetheless, the Palace expressed confidence that the Legislative Branch will still support the Executive Branch despite the veto, adding that there is also the upcoming midterm elections next month. “First of all, there is already a new Congress, different from the present Congress, after the elections there will be a new one,” he said. Last week, Cabinet Secretary Karlo Alexei B. Nograles said they do not see Congress retaliating for the veto of some of the budget items, since the President only did what he thought was correct and legal. Nograles said they are still hopeful the other measures still in the legislative mill will be passed soon,

PCC. . .

Continued from A1

It reminded them that violation of the competition law can lead to a fine of as much as P250 million and imprisonment of responsible officers for up to seven years. The competition body also backed calls from lawmakers and political figures for technical reports or audits by the Department of Energy (DOE) over the concerned power plants and their control rooms, as well as any lead or information from the public or experts in the field. Sen. Sherwin T. Gatchalian and former Bayan Muna Rep. Neri J. Colmenares last week pushed for an investigation of the string of shutdowns that forced the government to place the Luzon grid on red alert. Gatchalian asked the DOE and the PCC to investigate if industry players are colluding, as he noticed a price increase on the Wholesale Electricity

including the amendments to the Public Service Act, the proposed National Land Use Act, the bill prohibiting end of contract and the measure imposing additional excise taxes on tobacco and alcohol. After weeks of bickering among lawmakers over last-minute changes in the budget measure even after both chambers had ratified in plenary the bicameral conference committee version, the President signed last week the long-delayed 2019 General Appropriations Act amounting to P3.662 trillion. The P95.3-billion items of appropriations under the DPWH budget comprised: Provisions for General Administration and Support (P350,000,000), Provisions for Support to Operations (P460,000,000) and Provisions for Capital Outlays (P94, 564,241,000). Comprising the biggest bulk of provisions for Capital Outlays were those for Local Roads and Bridges (P42,611,461,000) followed by Flood Control and Drainage (P24,036,850,000), National Roads and Bridges (P17,161,390,000), Building and other Structures (P10,503,290,000), and Water Management (P251,250,000). Aside from P95.3 billion, some general and special provisions were also vetoed, while other provisions were subjected to conditional implementation to ensure conformity with existing laws, policies, and rules and regulations. Those under conditional implementation include allowance and benefits of teachers and creation of teaching positions, construction of evacuation centers, funding for foreign-assisted projects, revolving fund and lumpsum appropriations for capital outlays, as well as financial assistance to local government units and funding requirements of our foreign service, among others. Bernadette D. Nicolas

Spot Market. On the other hand, Colmenares said an investigation is needed to identify if the power outages were intended to create artificial shortages that could be used to justify rate hikes. Sen. Risa Hontiveros also demanded that the DOE ensure the Philippines has enough power supply during the critical stretch of the summer period. She said rotating brownouts will not only affect local households, but also public facilities delivering social services, particularly on health. “While the PCC has primary and original jurisdiction over competition concerns, [it] acknowledges the technical expertise and regulatory functions of the DOE and the Energy Regulatory Commission in overseeing the power industry,” the senator’s statement added. The PCC is seeking to strengthen ties and advance discussions with power regulators. It intends to sign a memorandum of agreement with them to facilitate market competition and investigations in the power sector.

@joveemarie

HE House of Representatives on Monday directed the Department of Budget and Management (DBM) to submit to the House Oversight Committee the budget ceilings of all government agencies under the 2020 national budget. During an oversight committee hearing, Speaker Gloria Macapagal-Arroyo said this will prevent a repeat of the controversy over the P75 billion in the 2019 budget. Arroyo said the DBM should furnish them the budget ceilings of the Tier 2 by June 2019. Budget Acting Secretary Janet Abuel said the agency will give the budget ceilings as soon as possible, saying the deadline for each agency has been set on May 3, 2019. According to Arroyo, it is important to determine budget ceilings under the Tier 2 of the budget to prevent the controversy created

by the failure of the DBM to disclose the new budget ceiling of the Department of Public Works and Highways (DPWH) to the House of Representatives during the budget deliberations last year. “The controversy of the 2019 budget began with the ceiling issue, that’s why we need to know the ceiling now,” said Arroyo, as she recalled that when it “was presented to us in July 2019, the DPWH had a ceiling of less than P500 billion, but when the GAA came, it was almost 600 billion. That’s why we want to be clarified now. That’s something we want to avoid in this coming budget.” She added that when the budget was presented to the House of Representatives last year, the DPWH said it had a budget ceiling of P482 billion. However, when the National Expenditure Program (NEP) was printed and given to the lower chamber, the DPWH budget ceiling was actually higher by P75 billion.

Infra. . .

Continued from A12

to the requirements of the Commission on Elections (Comelec) to put over 1,000 infrastructure projects in an exception list from the ban. The 45-day ban, which began on March 29 and will last until May 12, halted key infrastructure projects. The President’s economic team sought for an exception for 145 projects submitted for the 2019 General Appropriations Bill; the 603 from the Department of Public Works and Highways; and the 384 funded by official development assistance. “It’s there for a reason. And in any case, there’s also such a thing as your electionrelated spending. But to what extent it will even out, these are things we don’t know yet. But that’s the good thing that is happening as well,” Edillon said. “Hopefully, other agencies will be able to catch up. Changing this policy is not yet on the table.”

Lower growth

OTHER economists expressed concern that the election ban as well as other concerns like the delay in the passage of the 2019 national budget would weigh down the economy in the first semester of the year. Terosa said economic growth in the first and second quarters could be slightly lower than or be on a par with last year since electionrelated spending may offset the effect of lower spending on infrastructure. Data from the Philippine Statistics Authority (PSA) showed growth in the first quarter of 2018 was at 6.5 percent while second-quarter growth last year was at 6.2 percent. The combined impact of the delay in the passage of the national budget and the elections will affect first-semester growth. First-semester growth, according to PSA data, averaged 6.35 percent or around 6.4 percent last year.

The House moved for the itemization and equalization of the P75 billion to comply with the Constitution and the Supreme Court decision. However, the same items were vetoed by President Duterte, saying they were not part of the priority projects of the administration. During the hearing, Speaker Arroyo asked when and who determined the increase in the ceiling. She was told by the DBM that the ceiling was known as early as June 2018 but admitted that “not everything was put on paper.” Budget Undersecretary Tina Rose Marie Canda told the committee that the details in the increase in the budget were allegedly encoded in the DBM by the DPWH people.

Cash-based

MEANWHILE, Budget Assistant Secretary Rolando Toledo told the House that the total cash-based budget next is P4.1 trillion, 9.1 percent higher, or P343 billion more

“The delayed budget approval will slow down GDP Q1 growth. Not so much infra ban, as Comelec [is] issuing exemptions. Negative factors for slowing GDP growth are interest rates higher this year than last year, falling exports and ballooning trade deficit, and El Niño. Elections will boost spending but negative factors will weigh on growth,” economist Calixto V. Chikiamco said. Chikiamco believes, however, that the economy is poised for a recovery in the second semester of the year. Nonetheless, this is dependent on whether the Bangko Sentral ng Pilipinas (BSP) will lower interest rates. He added that other factors that the government should be keeping its eye on are the “ballooning” trade and current-account deficits. The country’s total trade deficit reached $2.79 billion in February while the currentaccount deficit widened to $7.4 billion in 2018. Earlier, this newspaper reported that the implementation of big-ticket infrastructure projects faced delays as the Comelec has asked for additional documents from economic managers before it decides on their request for exemption from the public works ban. Economic managers earlier sought an exemption from the public works ban, which took effect on March 29, to minimize the adverse impact of a reenacted budget on GDP growth this year. If this is not granted, the country’s economy would have to contend with the triple whammy of a reenacted budget, El Niño and the possible delay in the implementation of 1,132 public infrastructure projects. Neda OIC and Undersecretary for Regional Development Adoracion M. Navarro told the BusinessMirror that the agency is coordinating with the Department of Finance (DOF) and the Department of Budget and Management (DBM). Navarro also said implementing agencies have been asked to submit the additional documents required by the Comelec.

than the proposed P3.757-trillion national budget for 2019. He said around 44.9 percent, or P1.843 trillion is provided for the Tier 1 or the ongoing programs/ activities/projects of the different agencies. Meanwhile, automatic appropriations, which include internal revenue allotment and net lending and special purpose funds, will account for 32.8 percent of the budget, or P1.346 trillion. To cover Tier 2 or the expanded and new programs and projects, 22.2 percent or P911.6 billion will be set aside from the total cashbased budget ceiling. Toledo said among the priority programs of the government for next year are infrastructure development and several critical programs such as the Universal Health Care Act, Bangsamoro Organic Law, Rice Tariffication Act, Pantawid Pamilyang Pilipino Program Act, and Department of Human Settlements and Urban Development.

Hanjin’s assets. . . Continued from A1

access to one of our most strategic geographic naval and maritime asset. Although it is a commercial shipyard, nothing can prevent the owners from making it into a de facto naval base and a maritime facility for other security purposes,” Pama said in a Facebook post. In March executives of the Netherlands-based Damen Shipyard Group visited the Philippines to talk to Navy officials over a possible partnership on the building and supply of defense vessels, as well as survey Hanjin’s facilities. Chairman Kommer Damen said his firm is in a position to take over the Subic Bay-located shipyard, as it is not affected by the overcapacity in the cargo ship market that caused Hanjin to scale down its operations. Unlike Hanjin that makes large container ships, Damen produces smaller vessels such as yachts, cruise ships, navy ships and tug boats. Further, Rodolfo said the facility will most probably be retrofitted for another function, as keeping it as is seems no longer viable for business due to the decline in demand for cargo vessels.

2 options “THE proponents are considering two options: will [they] operate it as a going concern, or retrofit it for some other things? As a going concern, it could be difficult given the global demand, situation and competition from China,” Rodolfo explained.“Unless you can compete with China and you can take the beating and ride through this downturn in global demand, then you can keep it as is,” he added. In spite of the financial trouble HHIC-Phil got into, the trade official said the government is determined to keep shipbuilding as a priority investment area. However, changes must be introduced into the kind of shipyard that will be allowed, as some types are no longer doing business. For one, the trade official said Hanjin’s facilities being highly specialized was its boon back then, but became its bane when demand for large container ships fell. Since taking over the Subic Bay shipyard in 2006, South Korea’s Hanjin invested over $2.3 billion and delivered 123 cargo ships by the end of 2018. The firm that will take over the facilities must have a working capital of $12 million monthly to shoulder all of HHIC-Phil’s debts.Elijah Felice E. Rosales

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CA affirms prison term for celebrity doc Joel Mendez By Joel R. San Juan @jrsanjuan1573

HE Court of Appeals (CA) has denied the plea of celebrity doctor Joel Mendez to reverse the appellate court’s decision issued last year which affirmed the seven-year jail term imposed against him by the Regional Trial Court (RTC) in Quezon City for his failure to remit the monthly Social Security System (SSS) contribution of his employees amounting to nearly P2 million. In a eight-page decision penned by Associate Justice Edwin Sorongon, the CA’s Former Special Eight Division also denied Mendez’s motion seeking the inhibition of the justices composing the division. Mendez invoked anew “extrinsic fraud” in seeking reconsideration of the CA’s ruling. Extrinsic fraud refers to “fraudulent act of the prevailing party in litigation committed outside of the trial of the case, whereby the defeated party is prevented from fully exhibiting his side of the case by fraud or deception practiced on him by his opponent, such as by keeping him away from court; by giving him a false promise of a compromise; or where the defendant never had the knowledge of the suit, being kept in ignorance by the acts of plaintiff; or where an attorney fraudulently or without authority connives at his defeat.” The celebrity doctor claimed that the failure of his former counsel to attend scheduled hearings for his presentation of evidence and his counsel’s failure to inform him of the hearings and that his presence was required during the proceedings were tantamount to extrinsic fraud. Meanwhile, in seeking the inhibition of the members of the Former Special Eight Division, Mendez argued that they had already prejudged the case by resorting to technicalities and making sweeping conclusions as to the absence of extrinsic fraud. However, the CA reiterated that the negligence of Mendez’s former lawyer can hardly be considered as extrinsic fraud. “Truly, a litigant bears the responsibility to monitor the status of his case, for no prudent party leaves the fate of his case entirely in the hands of his lawyer,” the CA explained. “It is the client’s duty to be in contact with his lawyer from time to time in order to be informed of the progress and development of his case; hence, to merely rely on the

Lacson prods Senate panel to scrutinize AFP’s multibillion-peso procurements

bare reassurance of his lawyer that everything is being taken care of is no enough,” the CA pointed out. Likewise, the CA did not give weight to Mendez’s invocation of higher interest of justice and equity so that he will be allowed to present evidence for his defense. The appellate court said “the invocation of in the interest of substantial justice is not a magic wand that will automatically compel this Court to suspend procedural rules.” In denying his motion for the inhibition of the handling justices, the CA said Mendez’s allegation of bias is not sufficient in light of convincing evidence against him. In its August 2018 decision, the CA denied the petition filed by Mendez seeking to annul the July 18, 2016, decision of Quezon City’s RTC Branch 88 Presiding Judge Rossana Fe Romero which found her guilty of violating Republic Act 8282, otherwise known as Social Security Act of 1997. The CA did not give weight to Mendez’s arguments, saying that the Supreme Court has ruled that a lawyer’s neglect in keeping track of the case and his failure to apprise his client of the development of the case do not constitute extrinsic fraud. Mendez, who owns a chain of dermatology clinics in the country, was sentenced to a jail term ranging from a minimum of six years and one day to seven years maximum by the Quezon City RTC. It also directed Mendez to pay SSS a total of P1,865,657.50 representing unpaid contributions from October 2011 to January 2013 with an interest of 3 percent per month from July 2015 until full payment. The SSS discovered the delinquency after it monitored and examined the Mendez company’s records.

By Butch Fernandez

chaired by his fellow Philippine Militar y Academy alumni, Sen. Gregor io Honasan. A mong others, Lacson signaled he was keen for the Senate, exercising oversight powers, to do an inventory of the AFP acquisitions under its multiyear modernization program, given the fresh challenge to upgrade the country’s defenses. The senator made the call citing fund releases made for military hardware, the most recent being President Duterte’s approval of P300 billion for the “Horizon 2 shopping list” for 2018-2022. Lacson’s tweet, likewise, listed AFP allocations from 1995 up to the Duterte administration that he suggested to be covered by the Senate inventory.

These, the senator twitted, included P50 billion allocated in 1995 under Republic Act 7898, also known as the AFP Modernization Act; P75 billion allocated in 2013-2017 for Horizon 1 under R A 10349 (Revised AFP Modernization Act); and the Duterteapproved P300-billion Horizon 2 shopping list for 2018-2022, the details of which are expected to be submitted to lawmakers in the upcoming Senate defense committee inquiry when Congress resumes regular sessions starting May 20. Lawmakers, however, acknowledged the need to further upgrade AFP’s defense capability amid incidents of intrusions into the country’s territory, including the West Philippine Sea border.

DENR chief to Filipinos: Help save planet Earth

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Tuesday, April 23, 2019 A3

@butchfBM

HE Senate Defense and Security Committee was prodded on Monday to open an inquiry into the multibillion-peso allocations for the acquisition of military hardware under the Armed Forces of the Philippines (AFP) Modernization Law as soon as Congress reconvenes regular sessions next month. “A n inventor y of procured militar y hardware by the Senate Defense Committee is in

NVIRONMENT Secretary Roy A. Cimatu on Monday urged Filipinos to reflect on the most pressing ecological problems facing the world today and think of what they can do to save the planet. In a statement released in time for the celebration of Earth Day on Monday (April 22), Cimatu said Filipinos are obliged to take care of the planet. Over 1 billion people in more than 190 countries were expected to take part in the celebration of the 49th anniversary of Earth Day, making it the largest civic observance in the world. This year’s theme is “Protect Our Species.” “We have an obligation to take care of this planet we all share and Earth Day is a great time to start thinking more about the environment and all the little things we can do to make the world a better place,” Cimatu said. Cimatu said the Earth Day 2019 theme is a reminder that keeping the planet from destruction also means actively working on slowing down the decline of the country’s threatened and endangered species such as the Philippine monkey, flying lemur, giant flying fox and tarsier. The DENR chief said the Philippines remains steadfast on its commitment to fight illegal wildlife trade that is driving endangered species to the brink of extinction. According to Cimatu, protecting the environment is not the sole responsibility of the government because the gen-

ord e r,” S e n . Pa n f i lo L a c s on said in his t w itter account, refer r ing to the leg islative panel

eral public, too, must also do their part. He noted that there are simple ways people can help to protect the environment like conserving water and energy, patronizing cleaner fuel or taking public transport, and practicing proper waste management. “Being more environmentally conscious is the right thing to do. Living a more eco-friendly lifestyle could help create a sustainable planet and mitigate the effects of climate change and global warming,” Cimatu said. Marking the celebration of Earth Day with protest action, the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) and Kalikasan-People’s Network for the Environment (Kalikasan-PNE) on Monday trooped to the DENR to protest what they describe as “silence” on the part of the DENR chief on the alleged massive destruction of ecosystem by China in the disputed West Philippine Sea. The massive destruction, in forms of land reclamation, came side by side with the alleged destruction of thousands of acres of coral reefs via giant clams harvesting in the disputed territory. During the protest, Pamalakaya National Chairman Fernando Hicap said the DENR, through Cimatu, should be in the frontline of protecting the resource-rich West Philippine Sea from foreign-instigated environmental plunder. Instead, Pamalakaya lamented that the DENR has kept mum amid reports

of continuing Chinese reclamation and illegal poaching as part of its occupation of almost the entire South China Sea, including 80 percent of the West Philippine Sea. “40,000 acres of reefs have already been decimated courtesy of China’s aggressive usurpation of our marine waters, and yet, the DENR is not doing anything to impose its existing conservation laws and policies to protect the West Philippine Sea and its biodiversity. We haven’t even heard any single statement of condemnation from Secretary Roy Cimatu who fails to fulfill the mandates entrusted to him,” Hicap said. Pamalakaya said Cimatu is lawfully and politically obliged to issue a strong statement lambasting the People’s Republic of China (PRC), as well as President Duterte for inflicting environmental catastrophe in the West Philippine Sea. “As a top environment chief, we expect Cimatu to be the most vocal critic of environmental plunder brought about by Chinese incursion and the Duterte government’s defeatist stand, but apparently, Cimatu doesn’t have the courage to assert our sovereign rights to China in the name of defending the rich ecosystem of West Philippine Sea,” added Hicap. “We are not just being robbed of our precious yet endangered giant clams, Filipino fishers are also being curtailed of right to livelihood and freedom of access to their common fishing grounds,” he said. Jonathan L. Mayuga

@jonlmayuga

NTERIOR Secretary Eduardo M. Año has issued an order prohibiting all local elective officials and politicians in general from interfering, or even attending payouts and related activities of National Government Agencies, which could be used as a platform to advance their political interests. Memorandum Circular 2019-55, in effect, will level the playing field, between and among epals—a derogatory word used to describe politicians who usually take credit simply by showing up during payouts to beneficiaries of various programs such as distribution of health cards, or food packs and other goodies during outreach projects or activities.

According to Año, local government officials should strictly observe high standards of personal conduct in their actions. Section 4 of the Code of Conduct and Ethical Standards for Public Officials and Employees which impose upon every public official and employee to uphold public interest over and above personal interest. In a news statement, Interior Undersecretary Jonathan Malaya, also the spokesman of the Department of the Interior and Local Government (DILG) chief said they received reports from other national government agencies, including the Department of Social Welfare and Development (DSWD), that some local elective officials are exerting undue influence over the payouts of government programs and activities

Current account. . . Recent data from the BSP showed a BOP surplus of $3.8 billion in the first three months of the year. The BOP is the summary of the country’s dollar transactions with the rest of the world.

for the purpose of indirectly endorsing their own candidacies for this year’s midterm elections. Some politicians have even attempted to hijack the distribution of DSWD’s Unconditional Cash Transfer (UCT) program, Malaya said. Just like a political rally, candidates including incumbent LGU officials, reportedly spoke with their campaign posters splattered in the distribution area, he said. “The payouts of the DSWD among other programs is apolitical. We cannot and will not tolerate any politician to speak during the release of assistance. The payout cannot be linked to any candidate or political party,” he said. “The DILG is dismayed that politicians are using the payout to advance their own political ambitions despite

@reneacostaBM

appeals from the DSWD not to do so. The UCT is a nationally funded program, therefore, LGU [local government unit] officials cannot claim credit for it,” he pointed out. The official also warned politicians against threatening beneficiaries that they would be delisted if they do not support them in the elections. “Only DSWD can delist the names of beneficiaries of their programs. We appeal to all candidates not to ‘politicize’ the payouts, otherwise, the DILG will be compelled to bring charges against you,” he said. The election period runs until the end of May 13, 2019, the day of elections. Meanwhile, during a recent DILG Management Conference

meeting, Año reminded all senior DILG officials to stay away from partisan political activities and to be cautious in accepting invitations to attend anniversaries, renaming of streets/roads, and other similar activities noting that the host of the event might have a hidden agenda in requesting the presence of DILG officials. “We must be very careful in our actions this election period since we are nonpartisan,” Año told his department undersecretaries, assistant secretaries, directors and other senior department officials. “The Code of Conduct of Government Officials requires public officials and employees to be more circumspect in their activities especially during this campaign season,” Malaya added.

HE Philippine National Police (PNP) reported on Monday that 55 people died during the observance of the Lenten season, with most of the deaths attributed to drowning. PNP chief Director General Oscar D. Albayalde told a news briefing that the deaths were recorded from April 5 up to April 21 amid PNP’s heightened alert status. The rest of the deaths were due to road accidents, an electrocution and a single report of shooting. Albayalde said that 24,779 policemen remain deployed in 4,732 police assistance centers situated in strategic locations along main thoroughfares and travel routes, and in vital installations and mass transportation terminals in order to assist travelers returning to the urban centers from the Holy Week holidays. “A lthough alert conditions in some regions have been considerably downgraded, and the NHQ Reactionary Standby Support Force [RSSF] for SUMVAC [Summer Vacation] 2019 has been deactivated, the orders of the National Headquarters to personnel manning the police assistance centers is to remain in their posts until after all travelers have returned to their destinations,” he said. Albayalde said that except for some isolated incidents reported in several regions, the observance of the Holy Week was generally peaceful, without any significant untoward incident in the magnitude of a national emergency. The PNP will be making the necessary adjustments to beef up election security and law-enforcement operations, particularly in enforcing the nationwide election gun ban and operations against private armed groups, gun-forhire syndicates and criminal organizations that pose a threat to peaceful polls. As of Monday, a total of 4,566 people have been arrested for violating the gun ban that resulted in the confiscation of 3,807 firearms, 256 grenades, 500 explosive devices, 32,000 rounds of live ammunition and 1,554 other deadly weapons.

Robert Dan Roces said, however, that, while surplus reflects the high reserves accumulated by the Central Bank via the capital account, this masks the negative on the current account which

measures, among others, imports and exports where the country’s imports are high and exports are stagnant. “Moreover, overseas Filipino workers’ remittances—also

high for the quarter—are part of the current account which goes to show that the remittances are not enough to cover for the trade gap,” Roces said earlier.

Payouts of NG programs off-limits to ‘epal’ May election bets–DILG By Jonathan L. Mayuga

By Rene Acosta

continued from a1

The surplus for the first quarter is a significant development from what was seen in 2018, when the Philippine economy profusely bled dollars throughout the entire year.

Comparing its level to the same month in 2018, the $3.8 billion is a turnaround from the $1.2-billion deficit seen in the same period last year. Security Bank chief economist

A4 Tuesday, April 23, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Bizmen press govt to tap new water sources for Metro Manila By Elijah Felice E. Rosales @alyasjah

USINESS executives on Monday appealed to the government to develop new raw water sources in the immediate pipeline and expedite approvals of project permits to meet Metro Manila’s ballooning water-supply requirements. In a joint statement, local and foreign business groups argued the development of a secondary water source to complement Angat Dam must be prioritized by the government to prevent a repeat of the ongoing shortage experienced in Metro Manila and its surrounding areas. They added this should be coupled with the streamlining of bureaucratic procedures on permits and licenses for the putting up of new water projects. “To this end, we urge the government to develop new raw water sources in the immediate pipeline as projects of national significance and to fast-track bureaucratic approvals by obtaining permits, in parallel rather than sequential order, while ensuring proper environmental and social safeguards are adequately put in place,” the joint statement read. The business community said the full implementation of the Ease of Doing Business law will be useful in this reform, as it pegs a deadline for the issuance of permits and licenses. The law, approved by President Duterte in May of last

year, has yet to take full effect. The President has yet to appoint his anti-red tape czar, who, under the law, is vested with the authority to approve and promulgate the law’s implementing rules and regulations. “We also call upon Manila Water to hasten completion of its Cardona Treatment Plant and other water sources. As a long-term solution, steps should already be taken to develop adequate raw water sources to meet the future needs of Metro Manila, including tapping the full potential of Laguna Lake, a vast and nearby water resource,” the joint statement added. Metro Manila is heavily reliant on a single water source. It sources 96 percent of its water supply from Angat Dam. Concessionaire Manila Water exhausted its allocation in Angat Dam of 1,600 million liters per day, and was therefore prompted to utilize La Mesa Dam supposedly used for reserves. Further, the business groups recommended Congress to pass a measure beefing up an apex body for the water sector to act as the single lead agency tasked to oversee and coordinate overall policy and program implementation. It also asked lawmakers to create an independent regulator for water supply and sanitation mandated to harmonize regulatory practices and standards. Without elaborating, they also want legislators to approve a bill that will encourage the private sec-

tor to participate in the management of water resources and the provision of water services. Moreover, the business sector urged the government to introduce conservation and efficiency through the promotion and adoption of technologies and practices intended to reduce water use. It also asked authorities to expand rehabilitation efforts from Manila Bay to major bodies of water that can serve as natural sources of water supply, storage and power, such as Laguna Lake, and the Agus and Pulangi Rivers in Mindanao. “Efforts must also be made to ensure watersheds and wetlands are revitalized and maintained, while putting an end to illegal land conversion around these natural systems, which severely reduces holding capacities of these vital water capturing and water holding systems,” the joint statement read. The foreign chambers of American, Australian and New Zealand, Canadian, European, Japanese and Korean firms signed the joint statement. It was also inked by Alyansa Agrikultura; Makati Business Club; Management Association of the Philippines; Philippine Association of Agriculturists Inc.; Philippine Association of Multinational Cos. Regional Headquarters Inc.; Philippine Association of Water Districts; Philippine Chamber of Commerce and Industry; and the Philippine Exporters Confederation Inc.

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The adoption of compliance automation continues to grow

Reporting and monitoring

By Henry J. Schumacher

S the adoption of compliance automation continues to grow, it has become a best practice for compliance officers to leverage the latest technology within their programs. Compliance programs have assumed many more duties over the last decade or so because the risks to organizations have expanded. Many of those risks are still rooted in some regulatory compliance issue: corruption, unfair competition, data privacy, cyber security, adherence to labor standards, environmental regulations and so forth. But those risks also now spill over, threatening a company’s reputation with consumers, business partners and other stakeholders. Let’s have a look at the building blocks of compliance automation again, the critical elements you should have in mind when reviewing automation functionality: Risk management Policy management, code of conduct and conflicts of interest Due diligence Training Whistle-blower hot line and case management Reporting and monitoring Blend ing automat ic and human processes

Risk management

USING an automated risk management solution will allow you to manage your risks on an ongoing basis. As your business changes, new risks will inevitably emerge that need to be addressed. These could be new (types) of third parties, geographical risks, regulatory risks and so on. Automating your risk assessment will allow you to track your organization’s overall risk profile and help you to prioritize emerging risks and easily follow-up on the implementation of mitigation measures. Risk management technology can transform your risk assessment from a static document into a real-time, actionable resource. Taking advantage of automation will allow your organization to focus on mitigating risks instead of simply repeating the exercise on performing annual risk assessments.

Policy management, code of conduct and conflicts of interest

A GOOD compliance program keeps

track of employee engagement with the policies. An automated compliance tool can help you keep track of who read which policy by automating the signature collection process and storing records in a central repository for policy data. Keeping track of signatures centrally helps grow accountability in your organization. Being able to quickly understand which employees signed which policies and at what times, can be immensely valuable information when problems or allegations of misconduct arise.

Due diligence

BASED on the results of the initial assessment and the database searches, a risk score should automatically be calculated. The risk score of a third party determines the minimum required scope of due diligence that must be conducted. Using an automated compliance tool will simplify this process by automatically determining the right questionnaire to send out and notifying you to continue with the due diligence workflow once the questionnaire has been filled out.

Training

AUTOMATED training solutions can help you sort employee groups and training material to effectively assign the right training to the right employees. Employ a platform to track group training results and to send automated notifications to employees that haven’t completed their training. Your training solution should give you an overview of training completion rates in a single glance.

Whistle-blower hot line and case management

COMPLAINTS need to be categorized into high, medium, or low risks to understand the severity of the allegation, and the urgency of response. A case management system should help compliance officers analyze the differences quickly and accurately. Then reports can be routed to the proper person for follow up.

A ROBUST reporting system needs to provide you with a complete picture of activity. A strong advantage of automated compliance programs is that they will capture as much data as possible and subsequently consolidate that information in an accurate, useful way. An automated compliance solution can provide you with ready-made reports of all compliance activities. Once that reporting material is created, it can easily be forwarded to the appropriate executives and regulatory authorities, like the National Privacy Commission (NPC) in the Philippines. When this process of data consolidation is established, broader trends of compliance activity can be monitored, while gaps can be detected and remedied.

Blending automatic and human processes

AS helpful as automation is, there are certain elements that are best left to humans. Finding the correct blend of automation and human processes is essential to creating the best compliance program. While repetitive or time-consuming tasks are ideal candidates for automation, reviewing high-level risks and strategic decisions are better handled by compliance officers themselves (making full use of the reports produced by the automation tool). The complexity of compliance management and understanding that the safe journey into data protection needs automation inspired me to create a cooperation with Straits Interactive, a company in Singapore, that has developed DPOinBOX—data protection at your service, to equip professionals, managers and executives with the competencies to perform their jobs in data protection/ compliance management. The DPOinBOX is a platform that delivers data protection as a service (DPaaS) for organization to build trust with their customers and stakeholders. It allows data-protection officers to: Achieve operational compliance with data-protection laws, including the Philippine Data Privacy Act (DPA) but also with the EU’s General Data Protection Regulation (GDPR), and others like Singapore, Malaysia, etc. Implement a data-protection/ privacy management program Demonstrate accountability to regulators (very important!!)

Comments are welcome, please contact me at Schumacher@eitsc.com.

Report notes ‘improved’ success rate in ABD ops

PERATIONS of the Asian Development Bank (ADB) in the Philippines in the past three years had improved, but projects were less relevant and sustainable compared to previous years, according to the bank’s Independent Evaluation Department (IED). In its 2019 Annual Evaluation Review (AER), IED data showed that the overall success rate of ADB projects in the country improved to 75 percent in the 2016 to 2018 period, from 50 percent in 2013 to 2015, and 2010 to 2012. This success rate was still below the average for Southeast Asia of 78 percent and the 77-percent average for developing member-countries (DMC) or all developing country members of ADB. “The success rate of sovereign operations [overall] was 77 percent in 2016 to 2018. Relevance declined slightly from 91 percent in 2014– 2016 to 88 percent in 2016–2018, while effectiveness remained stable. Project design and overall quality at entry are important determinants of relevance,” the report read. “Sustainability continued to be the lowest-ranked evaluation criterion. Efficiency performance has reached the level of effectiveness performance in 2016-2018,” it added.

IED data showed there were four projects completed between 2016 and 2018, the same number in the 2013 to 2015 period. In 2010 to 2012, the number of completed projects was 12. In terms of relevance and sustainability rates, ADB projects in the country only averaged 75 percent in the 2016 to 2018 period, from 100 percent between 2013 and 2015. The average relevance rate for Southeast Asia was 86 percent in 2016 to 2018, while in terms of sustainability, it was at 73 percent during the same period. However, local projects funded by ADB improved in terms of effectivity and efficiency rates. IED data showed the country’s effectivity rate improved to 75 percent in the 2016 to 2018 period, from 50 percent in 2013 to 2015, while efficiency rates improved to 75 percent from 25 percent. The effectivity rates for Southeast Asian projects funded by ADB averaged 68 percent, and efficiency rates averaged 86 percent in the 2016 to 2018 period. “To incentivize ADB’s strong performance and results, especially in the context of Strategy 2030, robust results frameworks and systems need to be in place, particularly at the country level,” IED said in a statement. The IED also noted that the bank’s

long-term corporate strategy, Strategy 2030, which came into effect this year, needs to be accompanied by a strong focus on results supported by an improved corporate results framework. Strategy 2030 will steer ADB’s approach for addressing challenges in Asia and the Pacific, such as rising urbanization and demographic shifts, and tackling the unfinished development agendas of eradicating poverty, reducing inequality and closing infrastructure gaps. “Strategy 2030 represents an important milestone and has created great expectations; at the same time, the new strategic goals and directions still need to be properly translated into operational plans, clear and ambitious targets, and effective monitoring and evaluation” said Marvin Taylor-Dormond, director general of Independent Evaluation at ADB. The review highlights some selected key results of ADB’s operations based on broad scope evaluations recently concluded. For instance, in the area of reducing poverty and inequality, agriculture operations have promoted inclusive economic growth and smallholder development. Yet, they could have had greater effect on rural development and food security had they focused on the complete value chains. Cai U. Ordinario

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BusinessMirror

Tuesday, April 23, 2019 A5

Tuesday, April 23, 2019

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BusinessMirror

Tuesday, April 23, 2019 A7

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

Tuesday, April 23, 2019

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ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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Govt set to claim taxes from 23,961 foreign workers in the Pogo sector By Samuel P. Medenilla

@sam_medenilla

VER 20,000 foreign nationals working in the Philippine Offshore Gaming Operators (Pogo) sector could soon be subjected to tax assessment from the government after being validated by the Department of Labor and Employment (DOLE). Labor Undersecretar y Ana. C. Dione said in a news conference on Monday that the result of their initial inspection of the Pogo sector, which covered 88 establishments, about 16,550 of these foreigners were given Special Working Permits (SWP) while 7,411 presented Alien Employment Permits (AEP). The majority of these foreigners are Chinese nationals. “This report came from the first batch,” Dione said. “Tomorrow [April 23], we will start with the second batch of inspection.” The SWP is issued by the Bureau of Immigration (BI) for foreign nationals who will be working in the country for less than six months. The AEP is given by the labor department for those who will work in the country beyond six months. Labor Assistant Secretary Benjo M. Benavidez said they mobilized about 160 labor inspectors for the

ongoing nationwide validation process. He noted the inspection covered all foreign nationals and was not specifically aimed at Chinese nationals. Bureau of Local Employment (BLE) Director Dominique R. Tutay explained the inspection is part of their efforts to validate the list of foreign nationals submitted by Pogo firms. “So far the figures [from the list and the inspection] are consistent. Foreign workers are about 70 to 80 percent [of the Pogo work force]; the rest are Filipinos,” Tutay told the BusinessMirror. Benavidez said they have yet to submit their validation results to the Department of Finance (DOF). He added that the names of those, who will be found to have no permits or not complying with its provisions, will be submitted to the BI. “It will be the call of the BI

whether to deport them or not,” Benavidez said. The DOLE crafted the master list of foreign nationals in Pogo companies as part of the DOF’s effort to tax these foreigners. The DOLE’s partially completed master list has 63,855 foreign nationals working in the Pogo sectors. However, the Bureau of Internal Revenue (BIR) earlier estimated there were 130,000 unregistered Chinese workers in Pogos companies. The DOF is targeting to collect P32-billion worth of taxes from the unauthorized workers.

Greater regulation

MEANWHILE, Akbayan Senator Ana Theresia N. Hontiveros urged the government to impose stricter and more effective regulations on Pogos, which has led, she said, “to an influx of Chinese businesses and labor into the country.” “The drive to profit from Chinese-led offshore gaming must not be at the expense of the welfare and interests of Filipinos,” Hontiveros said in the statement she issued on Monday. “While the entry of more Pogos has brought an undeniable economic boom for some industries, we have to ensure that these establishments comply with our immigration, and financial laws and regulations, that they pay the proper taxes, and that there is proper documentation of all Chinese nationals who are coming into our country,” she added. Hontiveros said the government “must also guarantee that

jobs, which Filipino workers are qualified for, be made available to us.” “Along with this, Filipino workers must have the widest access to retraining and retooling programs to keep up with changes in the workplace, and develop new skills to respond to modern work life and the dawn of automation,” Hontiveros added.

Driving up rents

REGULATORY agencies, Hontiveros said, must also address the possible “artificial and unwarranted” rise in prices in the real-estate sector due to Pogos. It was reported that residential rental rates where Chinese-dominated Pogos operate have gone up dramatically. This rate of increase, which is much faster compared to the other central business districts in Metro Manila, is driving up rents, forcing long-time Filipino tenants to give up their housing units. “As a country with a large number of citizens working abroad, we are not against foreign workers. All we ask is a fair application of our laws,” she said. “Foreign workers, including Chinese workers, who fully comply with the laws of our land and respect the rights of Filipino workers, are very welcome in our country. We demand the same from our countrymen and women working abroad and hosted by foreign countries.” Hontiveros filed Senate Resolution 1027 on March 19 to investigate the Pogo industry, update applicable laws and ensure better revenue collection.

China said to name Chen Siqing to head ICBC, world’s largest bank

HINA has named a new chief for Industrial and Commercial Bank of China (ICBC) Ltd., the world’s largest lender by assets, people with knowledge of the matter said. Chen Siqing, chairman of Bank of China Ltd., was appointed as party secretary of Beijing-based ICBC at an internal meeting on Monday, the people said, asking not to be identified as the matter is private. Chen is replacing Yi Huiman, who became chairman of the China Securities Regulatory Commission, the country’s top securities regulator, in January. Chen is expected to also be named ICBC’s chairman, a position that has traditionally been held by the same person who has served as party secretary, according to the

DOF chief. . . Continued from A1

with the United States Chamber of Commerce (USCC) in Washington, D.C., earlier in the month, that American companies can participate in new opportunities in the Philippines—in the sectors of energy, infrastructure, information and communications, technology, health and education—to strengthen bilateral ties between Manila and Washington. He explained that now is the “best time” for them to invest more in the Philippines so they can maximize the benefits of participating in a robust economy poised to become “Asia’s next economic powerhouse.” “Our prospects for faster economic growth in the coming years should be an avenue for stronger collaboration with the US, especially with the private sector. We would like to encourage US businesses to be more engaged in the Philippine market not only in the infrastructure program but also in investments that would come as a result of our infrastructure

SIQING BLOOMBERG PHOTO people. The bank had $4.1 trillion of total assets at the end of 2018. The reshuffle adds to a string of management changes at China’s top financial institutions and regulators. Peng Chun, chairman of Bank of Communications Co. was appointed

head of China’s $941-billion sovereign wealth fund earlier this month, while Liu Guiping, vice mayor of the southwestern city of Chongqing, was named president of China Construction Bank Corp. in March. China has yet to fill the chairmen positions at Bank of China and Bank of Communications, the nation’s fourth and fifth largest lenders. The press office of ICBC wasn’t immediately available for comment. The lender’s shares fell 2.5 percent as of 1:25 p.m. in Shanghai on Monday, compared with a 1.4 percent decline in the benchmark index. Hong Kong was shut for a public holiday. ICBC reported a record profit of 297.7 billion yuan ($44 billion) last year after policy-makers renewed their push to spur credit amid a deepening economic slowdown. At

rival Bank of China, which generated more revenue from overseas operations than any of its domestic peers, earnings grew at the fastest pace since 2014 to 180.1 billion yuan. ICBC currently operates 426 outlets in overseas markets with $384 billion of assets, or close to 10 percent of the group’s total. Running China’s top banks does not come with a lavish pay package. Yi, former chairman of ICBC, earned about $100,250 last year, a fraction of the salaries taken home by JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s former CEO Lloyd Blankfein. China capped compensation for most senior executives at its biggest banks and other state-owned enterprises in 2015 as part of efforts to combat inequality. Bloomberg News

development,” Dominguez said. The finance chief pointed out that the Philippines is now in a position to become Asia’s next powerhouse as a result of its rapid economic expansion sustained through the government’s implementation of tough reforms and record investments in infrastructure and human capital development. The Duterte administration is also moving to address government inefficiency, the infrastructure gap, official corruption and the high cost of doing business, to further build investor confidence in the country. “You are looking at a Philippines that is invigorated and moving forward very quickly,” he added. The signing into law of the Ease of Doing Business (EODB) Act, as well as the push for the passage of the second package of the Comprehensive Tax Reform Program (CTRP) were cited among the measures to further enhance the Philippines’s status as a premier investment destination in the region. Package 2 of the CTRP or the

Tax Reform for Attracting Better and Higher Quality Opportunities (Trabaho) bill, aims to lower the corporate income tax (CIT) rate and rationalize fiscal incentives in the country to make them performance-based, time-bound, targeted and fully transparent. Dominguez reassured USSC members that as far as the Trabaho bill is concerned, the government will not remove fiscal incentives but would even improve on these investment perks. He cited the need to correct the current convoluted system in which 14 investment promotion agencies are able to grant incentives that do not have any time limits nor performance indicators. Also at the roundtable lunch were USSC officials led by Senior Vice President for Asia Charles Freeman, Executive Director for Southeast Asia John Goyer and Senior Manager for Southeast Asia Javiera Gallardo. They were joined by top executives from Texas Instruments, Coca Cola, TransUnion, Proctor & Gamble, Dow, Cargill, Fluor, Philip Morris International and IBM. In a forum on the Philippine

economy organized by the Center for Strategic and International Studies (CSIS) in Washington, D.C. back in 2017, the finance chief expressed hope that “improvements in our governance and a benevolent conjuncture of factors favoring stronger growth will encourage private investments from the US to take a much closer look at our economic prospects.” The CSIS, a bipartisan, nonprofit policy research group, provides proposed policy solutions to current and emerging global issues and is headed by John Hamre, a former deputy secretary of the US Department of Defense. He, likewise, underscored the strong partnership between the Philippines and the US that is “tested by time and made more enduring by the shared values we hold.” Dominguez earlier told American businessmen in New York City that the Philippines has started to deliver on its anticipated economic breakout under the Duterte watch, turning into one of Asia’s engines of growth despite the political noise and the recent terrorist attack in Marawi City.

Tuesday, April 23, 2019

Awash with cash, Treasury rejects bids for 1-yr T-bills By Rea Cu

@ReaCuBM

OTING that the government is awash with cash, National Treasurer Rosalia V. de Leon said the Bureau of the Treasury (BTr) rejected the 364-day Treasury bills (T-bills) on Monday. De Leon said the auction committee nevertheless partially awarded offers for the debt paper with a 182-day tenor. “The one year, [it was] full rejection; and then partial award for the 182-day [T-bill] because we still see that there’s more room for rates to decline given the expectations on the inflation trend,” De Leon told reporters. “And at the same time, we are really bountiful with cash.” From an offer size of P6 billion, the auction committee rejected all bids of P7.660 billion for the 364day T-bill. Had the auction committee decided to award the full P6-billion on offer, the average annual rate would have reached 6.142 percent, which is nine basis points higher than the previous rate of 6.052 percent. “We have partially released the report on the first quarter cash operations and you can see that we are doing good in terms of revenues,” De Leon explained. “But for expenditures, it’s like P1 billion a day that we are not spending.” The 182-day tenor was awarded a partial P3.099 billion from the P5 billion on offer with bids for the security amounting to P8.349 billion. The average annual rate for the security was capped 5.996 percent showing a 0.9-basis point uptick compared to the previous rate of 5.987 percent. “We have good revenues. We have been having very healthy auctions even in terms of fundraising,” De Leon said. “But because of the lower spending for the quarter—and that is attributed to the non-passage of the 2019 budget, we’ve been able to have a very strong cash position.” The 91-day T-bill was awarded the full P4 billion on offer with bids for the security amounting to P10.593 billion. The average annual rate of 5.608 percent posted a 0.6-basis point decline compared to the previous auction rate of 5.614 percent.

Quake. . .

Continued from A12

Among those partly destroyed was a portion of Clark International Airport, segments of the SCTEx, the boundary ark between the provinces of Bataan and Pampanga and several churches. Officials suspended operations of both the MRT Line 3 and the LRT 1 and 2, to allow a thorough safety check by technical crews. In its initial report, the NDRRMC said aftershocks were expected. Office of Civil Defense Region 3 Director Marlou Salazar said they received initial reports that some people at a department store in Pampanga were injured. In Porac, Pampanga, he said that at least two people were injured after they were hit by falling hard objects. “We are still checking other areas,” Salazar said, adding their office, like the other buildings in other parts of Pampanga, have been without power as a result of the quake, which also plunged some parts of Bataan and other areas in Central Luzon into darkness as electric posts were toppled. In Metro Manila, the streets quickly filled with workers evacuated from office buildings, especially in the business districts of Makati, Bonifacio Global City (BGC) in Taguig, Manila and Quezon City. Workers in government office buildings like the Senate, which sits on reclaimed area in Pasay City, the

De leon said the government may adjust its borrowing program specifically for foreign sources. “We’ll have to adjust on the foreign borrowings, particularly on higher cost,” she said. “But we’ll also have to see if there will be a catch up on spending because the agencies have done the preliminary works already—it’s just short of the award.” It was reported earlier that the national government recorded a budget deficit of P90.245 billion for the first quarter of 2019, as expenditures outpaced revenues, with the budget gap lower by 41 percent than the P152.171 billion posted in the same period for 2018. This was also pointed out to be lower by 52 percent than the government’s programmed deficit for the quarter of P188.353 billion. Broken down, expenditures for the three-month period amounted to P777.990 billion, or an uptick of 1 percent compared to last year’s P771.964 billion but shrank by 11 percent compared to the programmed expenditures for the period of P876.298 billion. The government reported revenues of P687.745 billion for the period, which is higher by 11 percent compared to last year’s P619.793 billion, but lower by 0.03 percent from the programmed P687.945 billion. Meanwhile, De Leon said the government is still awaiting approvals from the People’s Bank of China and the National Association of Financial Market Institutional Investors (Nafmii) for it to be able to issue Panda bonds. She explained that the government can opt for a single tenor for the Panda bonds if the volume is reduced to the renminbi equivalent of around $200 million to $300 million. The original planned volume is the $500-million equivalent-torenminbi issue under a three-year and five-year tenor. “We are looking at the same: three and five-year [tenors]. The tranches will depend on; if we are borrowing more than what we have borrowed last time then we may have to look for another tenor bracket,” De Leon said. “We can look at one tenor if we are issuing [a] smaller volume. Otherwise, if there is appetite, then we [are looking at] a longer tenor.” Department of Labor and Employment in Intramuros, and the National Economic and Development Authority (Neda) in Pasig, were also evacuated. The more extensive damage appeared to be in Pampanga, especially the second district, which Speaker Gloria Macapagal-Arroyo represents. She was hosting the Boao Forum, which opened at the BGC at the time of the quake. Major Ericson Bulusan said the Clark Airport Terminal was also damaged. NDRRMC officials at Camp Aguinaldo issued advisories saying aftershocks should be expected, although there was no threat of a tsunami. It continued to monitor the effects of the earthquake, which was felt in San Felipe, Zambales; Malolos and Obando in Bulacan; Quezon City; Lipa in Batangas; Manila City; Abucay in Bataan; Valenzuela City; and Magalang in Pampanga at Intensity V. It was also felt in Pasig City; Makati City; Caloocan City; Meycauayan and San Jose del Monte in Bulacan; Floridablanca in Pampanga; Villasis in Pangasinan; Tagaytay City; Baguio City; Marikina City; and Las Piñas City at Intensity IV. The temblor was likewise felt at Intensity III in Dasmariñas, Indang and Gen. Trias in Cavite; Lucban in Quezon; Muntinlupa City, Cabanatuan City; Palayan City; Gapan City; and Santo Domingo and Talavera in Nueva Ecija at Intensity III. Reports from Rene Acosta, Jonathan L. Mayuga and PNA

A10 Tuesday, April 23, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Crack the whip on overspending

HE lifting of the political ad ban through the Fair Elections Act (Republic Act 9006) was supposed to level the playing field for relatively less popular but qualified candidates for elective posts. Before the ad ban was lifted, candidates who were incumbents, those who enjoyed celebrity status or who were often featured in media enjoyed an unfair advantage during elections. After the political ad ban was lifted, other laws were passed, such as those limiting the political campaign period and the time for political ads to check those who have the money to flood media with ads. In February, President Duterte signed a law that provides bigger discounts for the broadcasting of political ads, which is meant to help candidates with smaller budgets reach voters through popular media. Despite all these measures, however, candidates with money and influence still dominate our elections, because they have found countless ways to circumvent election laws. There is a saying that the golden rule in politics is the one with the gold rules. This has not changed, even today. Moneyed candidates are the only ones who can pay for expensive TV and radio ads, which are already worth billions several months before the official campaign period begins. Malou Mangahas of the Philippine Center for Investigative Journalism revealed in a recent article that the total pre-campaign ad spending of 18 senatorial candidates in the May elections, based on data from Nielsen Media, was already at P2.4 billion—and this was just from January 2018 to January 2019. Surely, billions more have been spent since then by candidates, including those running for local posts. These ads prior to the campaign period are called “policacy” or political advocacy ads in advertising circles. They used to be called infomercials. The Commission on Elections (Comelec) has already ruled that unless a person has filed a certificate of candidacy, his or her ads—these so-called policacy or infomercials—cannot be considered premature campaigning. But who are we kidding? Most of those who had these ads on TV, radio and print, and had their posters and streamers littering cities and streets already declared their intention to run. The people already knew they would be running. Yet, the Comelec said they could not have been violating the law against early campaigning because officially they were not yet candidates. Indeed, this situation is crying out for corrective legislation. Loopholes must be plugged to give election laws that are meant to level the playing field more teeth. Even now, perhaps the Comelec, as a quasi-judicial body, can make remedies. We also hope the poll body can get the manpower and the political will to enforce campaign finance laws and strictly monitor the campaign spending being done by candidates. Election lawyer Emil Marañon suggested in a recent Rappler Newsbreak Chats that the poll body should tap universities and election watchdogs to help audit candidates’ campaign expenditures. He said accounting schools can help the Comelec countercheck candidates’ SOCEs (Statements of Contribution and Expenditures), since it lacked workers who could properly go through all the documents. He noted that the Comelec only has a small department in charge of checking campaign spending and it just gets lawyers from one department, and hires contractuals and casuals for the job. Indeed, the Comelec needs to expand its Campaign Finance Unit and staff it with enough qualified people. It needs full financial disclosure reports from candidates and it cannot simply expect them to be forthright and honest with their spending. Underreporting of campaign expenses had been prevalent among candidates in past elections. They easily got past the Comelec’s scrutiny because the poll body lacked the wherewithal to check all campaign contributions, advertising contracts, fund-raising, and spending activities of candidates and political parties. Winning a public office should not be just a matter of being able to outspend one’s political opponents. The Comelec needs to crack the whip on erring candidates. If the government really wants a free and fair election, then strictly enforcing laws on campaign finance and disqualifying candidates who violate these laws will certainly do much to accomplish this.

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High ratings make Duterte’s job easier Manny B. Villar

THE ENTREPRENEUR

RESIDENT Duterte’s ability to address gut issues and find quick solutions to them is endearing him to a great majority of the Filipinos.

A good majority of Filipinos has given him the stamp of approval for his performance in the first quarter of 2019. A survey conducted by the Social Weather Stations (SWS) in the first three months of the year showed a “very good” net satisfaction rating for the country’s top executive. The results of the SWS survey showed that 79 percent of respondents were satisfied with the President’s performance, 8 percent were undecided, while 13 percent were dissatisfied with his leadership. “Compared to December 2018, gross satisfaction with President Duterte rose by five points from 74 percent, gross undecided fell by three points from 11 percent, and gross dissatisfaction fell by two points from 15 percent,” says the SWS. This gives a net satisfaction rating of +66, classified by SWS as very good, a six-point improvement from the previous very good +60 in

December last year. I believe that President Duterte’s quick response to the rice shortage last year and the attending high inflation rate in the latter part of 2019 convinced the Filipinos further that he is a no-nonsense leader, who will immediately act decisively when confronted with gut issues such as food shortage and high prices. Duterte’s high approval rating is evident across the Philippines. His net satisfaction rating in Mindanao stayed “excellent” at a record-high +88, up by 15 points from the previous +73. It stayed “very good” in the Visayas at +69, up by seven points from +62 in December. It remained “very good” in the rest or Balance of Luzon at +56, up by four points from +52 in December. It also stayed “very good” in Metro Manila at +61, up by three points from +58 three months ago. Rural net satisfaction with the President was “very good” at a

Idea laundering and Notre Dame

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record-high +69, up by 12 points from +57, exceeding the previous record of +67 in September 2016. Urban net satisfaction was “very good” at +62 despite a two-point dip. As I’ve said earlier, President Duterte’s higher approval rating is a clear affirmation of his mandate to govern the country and implement policies to improve the lot of the Filipinos and the overall economy, despite the claims of the opposition and his ardent critics. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said the survey results sent a “crystal clear message” that the overwhelming majority who support the President did not believe the critics’ black propaganda. “The critics, detractors and the political opposition have been deaf to the voice of a great majority of our people, and blind to the sweeping changes in the political and social landscape affected by this unorthodox, maverick and daredevil leader who is fiercely devoted to—and protective of—the interest of the greater masses of our people,” says Panelo. President Duterte’s overwhelming public support allows him to perform his job without much distraction. He can better focus on the agenda at hand, create more jobs through “Build, Build, Build,” and significantly reduce the country’s poverty incidence. The Philippine economy, despite the brewing trade spat between the

HERE is a relatively new phenomenon that we need to be aware of alongside “fake news.” Author James Lindsay calls this “idea laundering”, which he says is “creating misinformation and legitimizing it as objective truth through repetition in sympathetic media.” While it may sound similar, this is not fake news in the sense of being false. Maybe Lindsay’s description is too narrow. Realize this for a moment. “Globalists” are those that support a powerful government, “big business” which funds the government officials, and international integration of nations. Broad groups make a coalition of those considered to be “Anti-Capitalism.” These groups want more government control, making big business part of and controlled by the government, and international integration. While promoted by the press and media as opposites, these two are different sides of the same coin. Each faction has achieved only limited success. Globalists have failed because people in many

different countries have rejected the idea that there should be only one recipe for all societies and economies. The anti-capitalists with their government “ownership of production” and “total central economic planning” cannot find a successful example. And no, Sweden is not a socialist country. The government does not own the means of production and has one of highest “economic freedom” ratings. Back to idea laundering. In the hours and days after the burning of Notre Dame Cathedral, several billionaires and corporations pledged about $1 billion for the rebuilding. Almost as quickly came complaints

from all sides about the donations. “Yellow Vest protestors in Paris battled police during violent clashes —newly enraged at the more than $1 billion that have been pledged to rebuild fire-damaged Notre Dame Cathedral, overshadowing their antiwealth cause.” Concurrently, others took to the press and social media with outrage that this money would be used to merely “rebuild a church while there were ‘starving children’ in the world.” The donors were savagely criticized because it shows that the wealthy are not doing anything to stop global poverty. From a business standpoint, here are the facts: Tourism in France directly contributed $100 billion to the economy and Notre Dame gets 12 million to 14 million visitors a year. Each tourist spends at least $100 on his/her trip to Paris. Rebuilding the cathedral makes economic sense and the donors get a tax break and what should have been good publicity. Surviving on less than $2 a day, 736 million people live in extreme poverty. Therefore the $1 billion donated to rebuilding would offer one day’s finances. Three billion people live on $3 a day, so a billion dollars is insignificant. However, last year the global pet food market was worth $98 billion.

United States and China, surging oil prices in the international market and the messy Brexit, is expected to expand by over 6 percent this year. ING Bank Manila senior economist Nicholas Mapa, in fact, said the Philippines could expect another credit ratings upgrade sooner than later from global rating agencies amid the country’s robust economic growth and strong external position, backed by the government’s ongoing reforms, especially in the area of taxation. “Given the dynamics akin to the Philippines, with aces in the form of steady overseas Filipino remittances and BPO receipts, the Philippines remains more insulated than regional peers even in light of the possible trade war,” says Mapa. “If the government can help support the growth momentum and, at the same time, ensure that the infrastructure buildup continues, we can expect ratings agencies to take notice sooner rather than later,” he adds. The Department of Finance agreed with the possibility that the Philippines would receive another ratings upgrade in the near term with the country showing signs of resilience in the face of global headwinds. The Philippines currently enjoys investment grade ratings from Fitch Ratings, Moody’s Investors Service and S&P Global Ratings. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

The probable global figure for the total illicit drug industry would be approximately $360 billion. The global cosmetic market was $508 billion in 2018. Global Smartphone sales reached $522 billion in 2018. If all that money buying Smartphones alone have been given to the 3 billion people in poverty, their standard of living would have been increased by 20 percent. My analysis is just as ridiculous as the donors’ critics because life is not that simple. However, if the government just imposed a “wealth tax”—a big one— then it could decide what was best for the people—rebuilding Notre Dame or feeding starving children. The Globalists would still be “The Government” and what’s a few billion in extra taxes now and then? The “AntiCapitalists” and the “Yellow Vests” would get more government control of the economy, supposedly taking power away from “big business.” Is the supposed outrage at the “Notre Dame Billionaires” an example of idea laundering? Only the government and the media know for sure. 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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Tuesday, April 23, 2019 A11

Usual assessment suspects Why not penalize political turncoats? Manny F. Dooc

Atty. Mabel L. Buted

TELLTALES

TAX LAW FOR BUSINESS

HERE are many items that the Bureau of Internal Revenue usually focus on and are the usual suspects when the BIR conducts an audit. But there are also court decisions (although some are only by the CTA, thus not yet final) debunking these findings. These are the usual suspects that never go away. When taxpayers have net operating loss incurred during the year under audit, the BIR would oftentimes disallow as deduction the said net operating loss on the ground that the tax benefit of the said loss will be or was carried forward to the succeeding period. The same is true with excess MCIT (minimum corporate income tax) credits and excess input taxes for the current period, which are not being accepted by the BIR as valid tax credits against the deficiency taxes assessed upon taxpayers. But there are court pronouncements allowing the net operating losses and the said excess tax credits. The CTA, in its many decisions, has been consistent in holding that the disallowances are improper because, accordingly, since the tax benefit derived from the carryover of the said amounts redounds to the succeeding years, the taxpayer may only be assessed in the said succeeding year and not in the current period subject of BIR audit. I hope the BIR will consider the CTA’s ruling and logic on this issue and drop assessments involving the same. Also, assessments based on “nocontact audit approach” (third-party data matching), without conducting the proper verification procedures (which are the BIR’s own, by the way), are still usual. The court also has, many times, struck down this particular method of assessment because this would merely result to presumption that is based on another presumption. I hope the BIR will consider the court’s decisions on this matter and stick with the procedure as mandated in their circulars so that the “matching” is properly verified and will not result in a void assessment. No less than the Supreme Court in the Inquirer Case has ruled that no undeclared income should result from the taxpayer’s alleged undeclared purchases simply because there is no gain realized from these supposed undeclared purchases. Again, by requiring the taxpayer to

account for undeclared purchases in an income tax assessment will be an unproductive exercise. The Supreme Court will strike down an assessment arising from this. The Supreme Court has also held that no prior tax treaty relief application (TTRA) is required before the taxpayer may avail of the benefits under the tax treaties. Yet, we still encounter assessments on the basis of non-filing of previous TTRA. Taxpayers are now faced with a dilemma on how to deal with tax assessments in relation to their tax compliance. How can they avoid recurring tax assessments, especially when there are court decisions ruling against the BIR on a particular tax issue? Should they go to court and question the tax assessments themselves given that there are CTA cases (although not yet part of jurisprudence) and Supreme Court cases that can cancel the entire assessment? I hope the current BIR procedure will be updated to include decisions made by the courts over the years. It can already drop in its menu of assessments, tax issues that have already been ruled upon by the Supreme Court and consider the logic of the decisions of the CTA as well (although not yet part of jurisprudence). This is important so that the BIR can evolve to be a more efficient tax collector as it concentrates on tax assessments that really matter. This will also give taxpayers clarity on how to proceed with their tax compliance and avoid being assessed on the same issues. The author is a senior associate of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm 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 mabel.buted@ bdblaw.com.ph or call 403-2001 local 312.

Continued from A1

F people are the most valuable resource of any country, then the good news is that we will continue to reap the demographic dividends, which is our advantage over other countries with aging population. The bad news, however, is the fact that it will be more expensive to run for elective public office with more voters to woo. This means bigger “pork barrel” or insertions/realignments in our budget to aid the reelection of the incumbents. nnn

IT’S a season of political promises again. Candidates will promise anything just to get the votes of the electorates. Then they will promise some more as they move along the campaign circuit. They will say another thing to suit the time, the place and the audience. They will say what the voters want to hear, and if they clicked with the crowd they’ll embellish their speech some more to further titillate their audience. They will delve on things the voters would love to hear, even if they contradict what they said earlier. When confronted, they will just say they were misquoted, or they were only joking, or only fools don’t change their minds. In Japan, they have a word for it: “Tamimushi,” which is a Japanese insect that changes color to match the surroundings. A more popular term is chameleon. Among us Filipinos, in order to give it a local color, we call them balimbing. The star fruit is well liked because of its sweet-sour taste but it takes a pejorative meaning when applied to a politician. If we penalize political turncoats in our country, only a few politicians would be out of jail. We have more butterflies in Congress than in the Marikina Butterfly Garden. nnn

POLITICS makes strange bedfellows. Otherwise, how can Imee Marcos, Sen. Koko Pimentel, Sen. Nancy Binay, and the Estradas/ Ejercitos be all on the same side? Maybe we should credit it to the President and to Mayor Sara for bringing them together under one umbrella. It’s more complex than the so-called Rainbow Coalition formed in the past to ensure a winning slate. They may belong to different political parties, embrace opposing ideologies, pursue disparate platforms but the overarching

factor is that they all claim that they support the President. But how many of them were original supporters of the President when he made his seemingly quixotic quest of the presidency three years ago? Did they honestly join the PRRD’s and Mayor Sara’s bandwagon to help the President carry out his programs and reforms or just to ensure their respective victories? Philippine politics, as ever, is based on personalities and not on political ideologies. Stick to your principles and you’re dead! I remember one such politician at a time when the term was still noble and respectable, Sen. Lorenzo Sumulong. In the election of 1967 he was supposed to run for reelection but in the nomination process where regional representation at that time was a major consideration, he lost out to newcomer Salvador Laurel despite the so-called equity of the incumbent rule. Senator Sumulong respected the process and gave way to Doy. Despite the invitation extended by the Liberal Party to be its guest candidate, Senator Sumulong politely declined the offer. Now, candidates cross party lines and betray their own party under dubious or unprincipled coalition. They prostitute their ideals and virtually sleep with the enemy just to ensure their election or reelection. nnn

IN this election, we have notable senatorial candidates who are running as independent candidates. Two of them are Senators Grace Poe and Serge Osmeña. No one will dispute that Poe is a cinch to win her reelection bid. The only issue is whether she will top the Senate derby or yield it to Sen. Cynthia Villar, or probably Sen. Sonny Angara, if the poll surveys are credible. That leaves us with former Sen. Serge Osmeña, undoubtedly a maverick and independent

politician if there is one and a proud and worthy bearer of an illustrious political name. Serge knows politics more than anyone. Ask the campaign team of President P-Noy who engineered his victory in the 2010 election. Serge lost his reelection bid last time around when he ran as an independent candidate, as well. Unless he surges in the coming weeks, his chance of joining the magic 12 is getting slimmer. Surveys show that he is outside the winning circle. He’s too independent to run under any party and he obviously does not want to be beholden to any one. At 75, this may be his last chance to seek an elective national office so it is a must-win situation for him. This is unfortunate because during his three terms in the Upper Chamber, he was one of the cerebral senators and we need his caliber and legislative skills to pass laws beneficial to our people. Both his grandparents, Sergio Osmeña Sr. and Esteban de la Rama were former senators. Three generations of Osmeñas who are direct descendants had served the Senate with distinctions. I cannot imagine a Philippine Senate without an Osmeña. nnn

THE normal formula for success is work hard for better pay. It’s the work ethics that guide us in pursuing our career and vocation. It’s the incentives that drive people to become workaholics. But can we work less and earn more? Any candidate who can promise me that and present convincing proof how he can make that possible will get my vote. During the depth of the economic depression in the 1930s, the famous English economist John Maynard Keynes once predicted that in 2030 his country would be far more prosperous and its people would work far less. It might be his way of appeasing his suffering countrymen who were reeling from the economic hardships almost a century ago, but we should also give him some credit for his foresight. In fact, it’s happening now in our lifetime. Recently, there have been studies to allow work outside the workplace in a less structured setting. Work can now be organized differently and rewards may be structured where compensation will be based on output and not on the time spent to produce it. Technological advances have made jobs possible to be completed under an informal setting. The use of e-mail, video chat and smartphones has made it easier to work outside the traditional eight-to-five-work

Enrile blamed Aquino’s erroneous policies for the world’s longest-running communist insurgency Cecilio T. Arillo

DATABASE

F history teaches us a lesson, it was the erroneous policies of the administrations of Presidents Corazon C. Aquino and her successor Fidel V. Ramos that gave life to the world’s longestrunning communist insurgency in the Philippines. On one hand, Mrs. Aquino ignored then-Defense Secretary and now senatorial candidate Juan Ponce Enrile who advised her against arbitrarily releasing ranking members of the Central Committee of the Communist Party of the Philippines, including CPP Chairman Jose Maria Sison, who were then serving prison sentences. Sison and Dante Buscayno, New People’s Army commander, were respectively placed in the custody of Joker Arroyo, President Aquino’s first Executive Secretary, and Doña Aurora Aquino, the president’s mother-in-law. Sison subsequently escaped to

Eastern Europe and then settled in Utrecht, the Netherlands, on a passport issued by the Aquino administration, where he relentlessly directed the armed and political struggle against the Philippine government with other members of the CPP Central Committee, who later joined him there. Sison and other key CPP members were convicted by the courts for waging an insurgent war for more than two decades. Their top-ranked left-of-center socialist democratic (Socdem) allies were, likewise, imprisoned for exploding bombs and burning shopping malls and hotels that killed

innocent people, including American nationals. Worse, the Aquino administration, after issuing Proclamation No. 2 that granted general amnesty to Communist rebels and their socialist democrat allies employed many of them in her government, compromised national security and triggered a spate of rebellion in the police and military organizations. Hundreds of these leftist allies later went back to the hills and resumed fighting against the government. On the other hand, President Ramos naively repealed on September 22, 1992, the country’s only national security law, Republic Act (RA) 1700 enacted by Congress on June 20, 1957. As a result, the repeal created a serious security vacuum. RA 1700 was specifically designed to outlaw the Communist Party of the Philippines and other subversive organizations, including terrorists of the Abu Sayyaf, Moro Islamic Liberation Front and Moro National Liberation Front, penalizing membership therein and for other purposes. Ironically, both Aquino and Ramos wanted but failed to win the coveted Nobel Peace Prize. In short,

they sacrificed national security and the safety of the people for their own personal glory. In Marcos’s time, the New People’s Army (NPA), the guerrilla arm of the Communist Party of the Philippines (CPP) , had only 16,500 regulars. And none of them could operate at will in Metro Manila. By 1988, the NPA had an armed strength of 25,200, including 2,500 operating in Metro Manila. Worse, 20 percent of the country’s 42,000 barangays or villages were under CPP-NPA’s influence. Oddly, this was the same year that President Aquino announced in her second State of the Nation Address that “the insurgency was broken.” Broken? Look at this: between 1988 and early 1992, 78 policemen and military men were systematically assassinated by the NPAs in Metro Manila alone. Only Enrile, now running under the Pwersa ng Masa, and the reformist officers questioned President Aquino’s unilateral release from prison of the Communists and their allies at the height of the Edsa euphoria. Enrile told President Aquino and

her then Executive Secretary Joker Arroyo that releasing the leftists from prison without first requiring them to renounce armed struggle and pledging allegiance to the flag and the Constitution would be a dangerous move. This is so because for the insurgents, the most important battlefield is not the military one but the political, social and economic fronts where they built their foundation and have made tremendous gains over the past five decades. For instance, from 26 leftist front organizations at the end of the Marcos regime, they have expanded to more than 200 organizations with headquarters in Utretch, the Netherlands, a network in other countries similar to al-Qaeda, and many of their members are already sharing power with the then Aquino and Ramos administrations after having successfully infiltrated Malacañang, Congress, labor, church, media, schools and universities and other sectors of society. The job to eradicate the root causes of insurgency belongs largely to the civilian authority, but it often received only lip service from the policy-makers although they are at

schedule. Some work can now be done at home. People who strongly advocate a work-life balance advance this idea. A well paying job, to some people, is not the only source of satisfaction. Neither does a long life guarantee happiness. It’s not the years in your life that count; it’s the life in those years. nnn

MANILA is fast becoming the concert capital in the region, what with the increasing number of foreign acts in our country. On February 22, multi-platinum artist Josh Groban held a one-night concert in Manila. Already lined up in 2019 are great international artists visiting Manila as part of their World Tour. Despite the hefty admission cost, tickets are usually sold out, encouraging more world-class artists to come here and delight our concertgoers. I don’t attend concerts. There’s always excessive sax and violins. nnn

AT a memorial held in Christchurch, New Zealand, a survivor, Farid Ahmed, who lost his wife in the senseless attack that killed 50 mosque-goers, told the mammoth crowd who attended the ceremony that he forgives the person who committed the dastardly act. “I don’t want to have a heart that is boiling like a volcano. A volcano has anger, fury and rage. It does not have peace. It has hatred. It burns itself within, and it also burns the surroundings. I don’t want to have a heart like this.” What a beautiful statement, which can only come from a magnanimous and forgiving heart. As Leon Trotsky had said: “Life is beautiful. Let the future generations cleanse it of all evil, oppression and violence, and enjoy it to the full.” Farid Ahmed has irrevocably shown that an act of forgiveness and love is more powerful than all the forces of evil and terrorism in this world. nnn

MY favorite actor, Nicolas Cage, had filed for an annulment barely four days after getting married to a make up artist, Erika Koike. He was betrothed on Saturday and filed for annulment on Wednesday. His four-day marriage was not his only short union. In 2002, he married Lisa Marie Presley, 10 days after proposing to her. Three months later they divorced, citing that they shouldn’t have gotten married in the first place. Another rocky marriage with the rockand-roll king’s daughter. Next time around, Nicolas should be caged so as not to escape from his marital bond.

the frontlines of the guerrilla war. Because the functions and responsibilities of the police and military are not clearly defined and prioritized, there is no agreed means by which the people can gauge the military overall capabilities and performance. Clearly, those who anticipated spectacular battlefield victories were, and still are, not familiar with the way the enemies operate, and will undoubtedly be disappointed at the outcome of the war. For instance, the classic guerrilla tactic of the NPA make it an elusive and difficult target even for an armed forces not suffering from a serious intelligence failure, leadership and expensive multilayered command and control structure. The enemies do not operate in a vacuum. Their operations are inextricably linked to the above ground organizations and this is so because for them, the military is not the most important battleground but the political, social and economic fronts where the major causes of rebellion are rooted. To reach the writer, e-mail cecilio.arillo@ gmail.com.

2nd Front Page BusinessMirror

A12 Tuesday, April 23, 2019

JICA RECEIVES DEVT AID PARTNER AWARD FROM D.O.S.T. AT MISSION: PHL

Dent on growth spurs call to revisit election infra ban G By Cai U. Ordinario

@caiordinario

IVEN the negative impact that the election ban may have on the economy in the first semester, it may be time to reconsider the policy that prevents the current administration from implementing infrastructure projects for 45 days before an election, according to local economists. Action for Economic Reforms (AER) Coordinator Filomeno S. Sta. Ana III told the BusinessMirror that the ban, particularly on national infrastructure projects, was “unwise” and “inefficient” given that there has never been any proof that this policy solely allowed KESSY REYES, senior program officer of Jica, accepts the Development Aid Partner Award for Science, Technology and Innovation from Science Secretary Fortunato de la Peña. ROY DOMINGO

HE Japan International Cooperation Agency (Jica) received the Development Aid Partner Award for Science, Technology and Innovation from Science Secretary Fortunato de la Peña at the recent culminating activity of Mission: PHL, the BusinessMirror Envoys&Expats Awards, the pioneering initiative to recognize the Philippines’s best partners in development cooperation. It gives due recognition to the development efforts of countries as represented by their embassies, as well as bilateral and multilateral development aid partners. “The Japanese International Cooperation Agency would like to express its sincerest thanks to the Department of Science and Technology for nominating us for this

award. We would also like to thank BusinessMirror and our friends from the media for this recognition. We also thank our government partners for your continued trust and support for Jica,”Kessy Reyes, senior program officer of Jica, said after accepting the award on behalf of his agency. The DOST is one of the 10 Philippine government agencies the BusinessMirror forged memoranda of agreement (MOA) with, to help it in the long, painstaking process of vetting he best development projects. Read updates on Mission: PHL in the BusinessMirror ’s Envoys&Expats Section. Watch for the next round of Mission: PHL, the Business M irror Envoys&Expats Awards in 2021.

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incumbents to win an election. University of Asia and the Pacific (UA&P) School of Economics Dean Cid Terosa agreed and said the policy could be “revisited and reassessed” given its impact on the economy during an election year. “My view is that the infrastruc-

ture ban, especially for national infrastructure projects, during the election period is unwise policy. Inefficient in the first place. First, show the evidence that infra project spending helps incumbents win. If we stretch that logic, shouldn’t we ban social development spending as well like spending for health, education, etc.? The reality, like it or not, is incumbents have the advantage, and a ban on infra spending will not change that reality,” Sta. Ana explained. However, National Economic and Development Authority (Neda) Undersecretary Rosemarie G. Edillon told this newspaper that the move is not being discussed by the agency at this time, despite recognizing the dampening effect the

“My view is that the infrastructure ban, especially for national infrastructure projects, during the election period is unwise policy. Inefficient in the first place.... Show the evidence that infra project spending helps incumbents win. If we stretch that logic, shouldn’t we ban social development spending as well like spending for health, education, etc.? The reality, like it or not, is incumbents have the advantage, and a ban on infra spending will not change that reality.”—Sta. Ana

ban will have on the economy in the first semester. The Neda said the administration is still in the process of coordinating with agencies with regard See “Infra,” A2

5 killed as 6.1 quake jolts Luzon, Metro Manila

A EASTERLIES AFFECTING SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - April 22, 2019

6.1-MAGNITUDE earthquake jolted parts of Luzon, including Metro Manila, on Monday afternoon, prompting the evacuation of workers from highrises and government buildings, suspending train operations and causing damage to churches and public and private property. The National Disaster Risk Reduction and Management Council (NDRRMC) said that five people were killed in Central Luzon, and quoted Vice Mayor Dexter David of Porac, Pampanga, as confirming that a supermarket in the town had collapsed, trapping at least 40 people. Military and disaster officials reported receiving information of minor injuries and damage in adjacent areas where the temblor was also felt. The NDRRMC did not say where the fatalities had come from, but said they were awaiting validation and further report from disaster officials in Central Luzon. David, in an interview with GMA 7, showed videos of the ongoing rescue operation in the collapsed building. He appealed for assistance from the national government, especially for rescuers to help the people trapped inside the supermarket, which he did not identify. The epicenter of the tectonic quake was 2 kilometers northeast of Castillejos, Zambales, striking at around 5:11 p.m. It had a depth of 21 km, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. At around 5:15 p.m., an Intensity III earthquake was felt in Olongapo City; and Intensity V was felt in San Felipe, Zambales, and Quezon City, according to Phivolcs Earthquake Information No. 1. Several buildings and public infrastructure also sustained damage. See “Quake,” A9

PHOTOS show how Monday’s late-afternoon earthquake affected people in various parts of Luzon. Top left, employees stand on Senate grounds after being evacuated; upper right, the boundary ark between Pampanga and Bataan sustains damage; center, the Saint Catherine of Alexandria church in Porac was also a casualty; above, workers mill outside office buildings at Bonifacio Global City. BUTCH FERNANDEZ/ASHLEY MANABAT/ROY DOMINGO

Companies BusinessMirror

Editor: Efleda P. Campos

Tuesday, April 23, 2019

FLI expects to launch ₧30-B housing projects this year

By VG Cabuag

@villygc

ROPERTY developer Filinvest Land Inc. (FLI) expects its top line and bottom line to grow at least 10 percent this year, as most of its projects are in full swing and will start operating in the next few months.

a bond sale to finance its capital expenditures. “At the end of 2018, the fourth year of our five-year expansion program, our recurring income portfolio reached 712,000 square meters. The rental business now accounts for 46 percent of the company’s total net income. For 2019, we expect to add 240,000 sq.m. of gross leasable area in office and retail space. We believe this will bring us to accelerated growth in the succeeding years as we complete our five-year accelerated expansion plan,” Yap said. “We continue to plan for further expansion by targeting an additional 600,000 sq.m. of GLA by 2023,” she added. Yap said part of this push is the company’s venture into the logis-

tics and industrial parks space, pioneered by its New Clark City development. The company is putting up 64,000 sq.m. of logistics-space portfolio in its 288-hectare New Clark City project, providing large spaces needed by logistics and light manufacturing companies, while it prepares the plan for a similar development in two more areas yet to be disclosed. FLI is set to start ground development for Phase One of New Clark City this year amid positive inquiries from potential locators and partner-developers, Yap said. Filinvest Land expects to launch P30 billion worth of residential projects this year, up from P16 billion last year, “across all our brands and across the country,” she said.

The company closed 2018 with profits of P6.08 billion, revenues of over P22.21 billion, up 4 percent and 10 percent, respectively, from the prior figures. Josephine Gotianun-Yap, FLI president, said the company is allocating between P30 billion and P32 billion in capital expenditures

(capex), a 45-percent increase from the previous year’s P22 billion. Yap said this year, P13 billion will be allocated as capex for investment properties and P7 billion for land acquisition. Yap said the company may raise P10 billion through financing, a portion of which could be through

Greenergy operations up 12-fold to ₧2.8B in 2018

Aboitiz Power Corp. eyes RE projects in overseas expansion

R E E N E RG Y H o l d i n g s Inc., the listed company of businessman Antonio L. Tiu, said its net income last year rose to P2.8 billion, a 12-fold increase from the P21.3 million recorded in 2017. In its report, the company said the increase is due to “the results of gain on reclassification of investment in associate to Fair Value Through Comprehensive Income amounting to P2.6 billion, gain on deemed disposal of investment in an associate of P186.42 million and gain on sale of investment in associate amounting to P78.97 million.” Net of these gains, Greenergy’s gross income was at P1 million, equivalent to 29 percent of revenue and still a marked turnaround from 2017 when the company’s gross loss was at P1.49 million or -287.61 percent of revenue. Revenues last year also turned around to P3.45 million from a mere P0.52 million in 2017, due to the increase in agri-tourism revenue and rental income from its 9-hectare property situated in Rosario, Batangas. “Moving forward, Greenergy expects gross profit margins to improve significantly in the coming years when returns on the company’s investments become visible, especially on the increase in service income from agri-tourism, sale of harvests from greenhouse projects of one of its subsidiaries and potential project with Thebizlink Co. Ltd. that will generate sufficient cash flows,” the company said. The particular project with Thebizlink Group is for the development of a transport hub, smartfarming agriculture area, smartcity commercial and mixed-use developments and other related developments. With these investments, the management of the group will continue to generate sufficient cash flows to complete its current and future plans. Greenerg y a nd T hebi zl i n k Group entered into a memorandum of agreement in January for the project. Last April, Greenerg y also partnered with a Chinese multinational company for the distribution of solar-powered products in the Philippines. VG Cabuag

By Lenie Lectura @llectura

B O I T I Z Po w e r C o r p. (AboitizPower) is shifting its overseas prospect for renewable-energy (RE) projects in Vietnam. The power firm, which earmarked P51 billion in capital expenditures (capex) this year, earlier announced its keen interest to expand overseas, possibly with a local partner. Aside from Vietnam, the power firm is also eyeing Myanmar and Indonesia for expansion, but Vietnam is on its radar at the moment because of its similarity with the Philippine market. Compa ny of f ic i a l s le d b y Aboitiz Equit y Ventures Inc. (AEV) and AboitizPower President Erramon Aboitiz said during a news conference on Monday afternoon that “a few deals” are currently being evaluated in the RE space in Vietnam. “A lot of our efforts still have not borne any fruit in the last couple of years, although we are working on several projects currently in our focus countries, mainly Indonesia and Vietnam. We are looking at solar and wind. Right now, we’re focusing on Vietnam. They have their FiT [feed-in-tariff]. We think that’s an opportunity for us. So, a lot of our efforts have shifted and are

really focused on Vietnam. Hopefully, we will be able to announce a project soon,” he said. After the press conference, Aboitiz revealed the company is looking at “roughly anywhere between 50 megawatts and 100 MW” of RE projects in Vietnam. Timing is essential, since another round of FiT rates in Vietnam will take effect soon. FiT is a form of incentive paid to RE developers. “They have set a price today that will expire in June or July this year. They already have a new FIT that will kick in and that goes on until October 2020, and then a new one comes again. Between now and 2021, AboitizPower’s Vietnam RE prospect should be ready,” Aboitiz said. “More than that, we have to be ready and running by that time. Depending on what technology, if it’s wind, for example, to be able to meet the 2021 timeline, we have to have the project already, at least the permitting and all of that in order to meet that schedule,” he added. A local partner in Vietnam that has started a project already is a must for AboitizPower. Ideally, the company is looking at existing projects that have been developed into a certain extent. Earlier in the day, the company announced the appointment of company COO Emmanuel Rubio

as AboitizPower President effective on January 1, 2020. Rubio will replace Aboitiz who is up for retirement. “I intend to continue what he has started. I am sure there will be a lot of challenges—new and old—but with the help of the group, we will overcome the challenges,” Rubio said. Aboitiz said the board approved Rubio’s appointment as incoming president and CEO after his retirement. “All of us are very happy with the approval. There was a lot of speculation as to who will take over my place and, definitely, a lot of people are looking at Manny, so it’s confirmed now. I am confident Manny will continue to achieve greater heights.” About 80 percent of the capex is earmarked for baseload projects mainly for the construction of GNPower Ding inin Power Plants, while the balance is allocated for exploratory and operating activities. AboitizPower believes it is well-positioned to take advantage of opportunities arising from developments in the power industry. “We are working toward achieving our growth targets of 4,000 MW by 2020. The acquisition— increasing our share in GN—puts us in a front seat in reaching close to 4,500 MW from where we are today,” Rubio said.

Sales of Hyundai cars in Q1 grew 12.5% By Elijah Felice E. Rosales @alyasjah

HE Philippine distributor of Hyundai cars said sales in the first quarter grew 12.5 percent after the introduction of new models and a recovering consumer appetite. In a report, Hyundai Asia Resources Inc. (Hari) reported sales from January to March increased to 9,949 units, from 8,847 units during the same period last year. For March alone, the car dealer sold 3,412 vehicles, up 5.86 percent from 3,223 units. The passenger car (PC) bracket made up the bulk of the sales, but it was the growth posted by the

light commercial vehicle (LCV) segment that boosted Hari’s firstquarter performance. LCV sales in the first quarter jumped 70.46 percent to 4,306 units, from 2,526 units during the same stretch last year. However, sales from PCs declined 12.9 percent to 5,404 units, from 6,205 units. Meanwhile, commercial vehicle sales more than doubled to 239 units, from 116 units. Hari President and CEO Maria Fe Perez-Agudo attributed the firm’s positive first-quarter sales to new models it introduced during the period, as well as the recovering consumer sentiment to buy big-ticket items, including

vehicles. From January to March, Hari sold 1,576 units, nearly 16 percent of sales, of its fresh model Reina. The car importer introduced its popular SUV Palisade and awardwinning electric vehicle Kona at the Manila International Auto Show (Mias) in March. “Hari sustained its growth momentum in the first quarter driven by the successful introduction of fresh and innovative models, such as the Reina, at the start of the year, and a more positive buying sentiment from consumers. We are well poised to continue this upward trend over the next three quarters, as we recently unveiled pioneering vehicles at the Mias,” Agudo said.

Holcim supports Philippine construction activities with innovative cement solutions By Roderick L. Abad @rodrik_28 Contributor

T the height of construction and public works activities nationwide, Holcim Philippines continues to roll out innovative building solutions as partners use these materials to better execute their projects. High-performance blended cement brand Solido is its latest offering designed as a better alternative for infrastructure building to the commonly used ordinary Portland cement. Solido provides concrete with higher strength and durability, as well as better workability for faster and easier application. This is a more eco-friendly option since it is produced with lower emissions. Holcim Solido’s innovative product design enables the firm to extend its cement volumes and enhance its capacity to meet the demand of the local construction industry. This new product has been accepted well by the company’s clients for their respective projects since its launch in March. Another well-received offering by the market is the SuperfastCrete (SFCrete), a one-day concrete technology for quick road repairs in highly urban areas. In fact, it has been used to reblock several sections of the Epifanio de los Santos Avenue as of December 2018. Just recently, SFCrete was also used to repair the northbound lane of the Magallanes interchange and southbound lane between Kamuning and Aurora Boulevard during Holy Week. With this cement technology, roads are passable in 24 hours or less, thus preventing commuter

inconvenience from prolonged closure related to repairs. T he Depar tment of Public Works and Highways (DPWH) approved the use of SFCrete for road projects in December 2016 under Department Order 235. Holcim Philippines is now working to get DPWH accreditation for government projects to use its soil-stabilization technology that improves the suitability of ground where roads will be built. The better soil condition can help these projects prevent concerns on durability and delays due to inclement weather, scarcity of quality aggregates and transportation of more suitable soil. The rollout of these solutions, together with the firm’s commitment to provide a reliable cement supply, reflects its thrust to continue being a partner for the country’s progress, Holcim Philippines Senior Vice President for Sales William Sumalinog said. “As a member of the LafargeHolcim Group, Holcim Philippines has access to a wide range of proven construction solutions to help builders all over the world,” he said. “We believe that by providing our expertise to our local builders, we can help them build better, faster, and more durable roads and structures.” In the coming months, Holcim Philippines will have engagements with key partners in the public and private sectors to show them the advantages of its building solutions and help better understand how else the company can support their projects. The cement-maker has manufacturing facilities in La Union, Bulacan, Batangas, Misamis Oriental and Davao, as well as aggregates and dry-mix business and technical support facilities for building solutions.

Therma Mobile signs PSA with Meralco

BOITIZ Power Corp. subsidiar y Therma Mobile Inc. (TMI) announced on Monday that it signed a deal to supply 20 megawatts (MW) of power to Manila Electric Co. (Meralco). The newly signed power-supply agreement (PSA) will help the Luzon grid in its much-needed additional capacity. “This contract is a timely response of both AboitizPower and Meralco to the call of government for stable and reliable power going into the midterm elections and beyond,” AboitizPower Oil Business Unit President and COO Celso C. Caballero III said. TMO will source power from its four floating power barges moored in Navotas. The barges have a combined gross capacity of 242 MW. The facility went into preservation mode on February 5, as well as voluntarily disconnected from the grid and de-registered from the energy market. It is currently expected to be registered again with the Independent Electricity Market Operator of the Philippines Inc. (IEMOP) on April 22, and delivery of power to Meralco will commence on Apr il 26, 2019. The oil-fired barges in Navotas are considered ideal for providing peaking

supply and ancillary services with its operational flexibility and the ability to start up quickly to respond to the needs of the grid. T he O i l Bu si ness Un it of AboitizPower operates five oilfired power facilities in Luzon, the Visayas and Mindanao. Aboitiz Power has a balanced mix portfolio of coal, oil, geothermal, hydro and solar-power plants nationwide. Lenie Lectura

Companies BusinessMirror

Tuesday, April 23, 2019

PSE STOCK QUOTATIONS

April 22, 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 PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE

58.6 132.8 82.5 26.35 11.54 76 12.8 50.85 58.5 110.1 26 178.3 60.85 1.31 2.22 18.72 4.6 1.38 0.54 800 0.94 183 1.13

58.65 133 82.8 26.4 11.56 76.1 13.5 50.95 58.95 121.8 26.2 178.5 61.45 1.34 2.26 18.8 4.65 1.41 0.56 810 0.96 183.5 1.14

58.6 131.7 83 26.5 11.64 77.6 13.56 51 58.7 110.1 26.35 180 61.5 1.3 2.2 18.92 4.6 1.38 0.485 820 0.97 184 1.13

58.65 134 83.4 26.9 11.64 77.65 13.56 52 58.9 110.1 26.35 180 61.5 1.3 2.22 18.98 4.73 1.38 0.6 820 0.97 184 1.13

58.5 131.5 81.95 26.3 11.56 76 13.5 50.95 58.6 110.1 26 177 60.7 1.3 2.2 18.8 4.6 1.38 0.485 800 0.94 183 1.13

58.6 133 82.8 26.4 11.56 76 13.5 50.95 58.9 110.1 26 178.5 60.85 1.3 2.22 18.8 4.6 1.38 0.56 800 0.96 183.5 1.13

6160 1638700 2213740 161200 108900 2916420 118600 185950 3380 150 11100 155040 2910 8000 27000 12900 96000 11000 44850000 170 140000 4800 14000

361023 218476580 182870382 4257560 1261776 222742380 1601432 9593354.5 198705.5 16515 290235 27648860 177091.5 10400 59880 243356 447180 15180 25022850 137150 133220 882528 15820

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 CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA RFM CORP ROXAS HLDG UNIV ROBINA VITARICH VICTORIAS CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.42 35.95 0.244 22.2 81.25 379.4 23.6 6.48 4.5 1.52 11.9 45.8 6.97 16.28 14.92 15.7 5.55 11.18 7.37 112 0.86 29.3 302.8 10.26 14.7 0.196 1.23 12.8 4.79 2.17 150.1 1.45 2.5 1.89 15.8 9.55 11.3 21.7 9.06 1 1.17 1.95 3.51 5.15 45 2.9 12.66 1.83 6.12 1.32 28.6

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 LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA REPUBLIC GLASS SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.59 18.68 881.5 54.95 14.98 6.45 0.77 1.39 1.39 7.45 12.04 14.64 0.234 855 6.51 62.75 0.495 5.17 15.9 0.55 4.44 0.038 2.85 1.12 2.55 1.33 430 939.5 175.9 1 265 0.236 0.325

1.43 36 0.246 22.3 81.35 380 23.75 6.49 4.55 1.53 12.16 45.85 6.98 16.4 16.1 15.82 6 11.2 7.46 113 0.87 29.9 303 10.58 14.72 0.21 1.24 12.9 4.85 2.18 150.2 1.46 2.59 1.9 15.9 9.56 11.32 21.75 9.27 1.01 1.18 1.96 3.7 5.19 45.5 2.91 12.76 1.85 6.47 1.33 29

1.43 35.95 0.247 22.2 80.95 376.2 23.95 6.57 4.65 1.54 12 45.6 6.97 16.48 16.2 16.02 5.5 11.5 7.37 113.7 0.9 29.85 304 10.26 14.78 0.191 1.25 12.94 4.78 2.18 153.2 1.48 2.5 1.9 15.86 9.53 11.36 21.5 9.32 1 1.16 1.97 3.7 5.16 45.05 2.9 12.68 1.84 6.35 1.33 28.8

1.43 36.15 0.247 22.3 81.25 381 23.95 6.57 4.65 1.55 12.18 46.1 7.15 16.48 16.2 16.02 5.52 11.5 7.38 113.9 0.9 29.9 309.8 10.28 14.98 0.214 1.26 13 4.79 2.18 153.2 1.48 2.5 1.91 15.9 9.6 11.4 21.8 9.32 1.04 1.23 1.98 3.74 5.19 45.05 2.91 12.88 1.85 6.5 1.33 29

1.43 35.8 0.245 22 80.35 376.2 23.4 6.47 4.5 1.5 11.7 45.6 6.97 16.3 16.1 15.82 5.5 11.2 7.3 111.8 0.82 29.85 302.6 10.26 14.72 0.191 1.23 12.62 4.78 2.18 150 1.44 2.5 1.88 15.72 9.43 11.24 21.45 9.32 1 1.16 1.96 3.5 5.1 45 2.85 12.66 1.83 6.08 1.29 28.55

1.43 36 0.246 22.2 81.25 380 23.65 6.48 4.55 1.52 12.16 45.8 6.98 16.4 16.1 15.82 5.52 11.2 7.38 113 0.86 29.9 303 10.26 14.72 0.214 1.24 12.9 4.79 2.18 150.2 1.46 2.5 1.89 15.8 9.55 11.3 21.75 9.32 1.01 1.18 1.96 3.73 5.19 45 2.91 12.66 1.83 6.34 1.33 28.9

27000 998300 590000 479800 41360 121980 105300 555000 34000 14232000 2700 50500 248300 707700 1100 8400 4600 2184700 6452900 65870 28038000 128900 1300150 9600 354200 950000 801000 95200 2000 5000 402010 2149000 510000 4892000 222900 251500 782200 2869300 100 141000 929000 52000 11000 50400 221300 5573000 112800 485000 67100 110000 59500

38610 35859280 145460 10638740 3351325.5 46247528 2478300 3615270 157200 21599220 32726 2318740 1738832 11605576 17780 133088 25348 24857108 47248289 7418699 24059830 3847745 395456306 98532 5254356 195720 997500 1232076 9570 10900 60659156 3138570 1275000 9271970 3524880 2399872 8847718 62377740 932 145690 1103900 102250 39600 259434 9958560 16035320 1437038 892190 410991 144040 1718020

HOLDING & FRIMS 0.6 19.06 882 55 15 6.65 0.78 1.4 1.43 7.5 12.06 14.9 0.243 856.5 6.77 63.4 0.51 5.18 16 0.57 4.46 0.04 2.86 1.13 2.64 1.35 460 940 176.9 1.01 269 0.242 0.33

0.57 19.86 910 54.85 15.1 6.5 0.78 1.4 1.4 7.6 12 14.9 0.244 862 6.51 61.35 0.52 5.19 15.38 0.58 4.52 0.038 2.92 1.11 2.63 1.32 445 932 175.9 0.98 261.4 0.236 0.33

0.59 19.86 910 55.5 15.16 6.65 0.78 1.4 1.43 7.6 12.16 15 0.244 862.5 6.6 63.4 0.52 5.25 16.2 0.58 4.54 0.04 2.92 1.13 2.63 1.32 445 940.5 176.9 1 269 0.236 0.34

0.56 18.68 880.5 54.6 14.96 6.5 0.77 1.39 1.4 7.5 11.98 14.6 0.234 852.5 6.5 61.35 0.5 5.17 15.38 0.57 4.43 0.038 2.86 1.11 2.63 1.32 430 932 175.3 0.96 261.4 0.236 0.325

0.59 19.06 882 55 15 6.65 0.77 1.4 1.43 7.5 12.06 14.64 0.243 856.5 6.51 63.4 0.51 5.18 16 0.57 4.46 0.039 2.86 1.13 2.63 1.32 430 940 176.9 1 269 0.236 0.33

20495000 10700 478150 395000 4392200 8200 198000 854000 55000 265100 4855000 124100 1080000 428940 37700 489430 223000 70000 1443800 157000 15702000 9300000 727000 47000 2000 15000 790 73580 191240 913000 4250 240000 7220000

11830180 204482 425665270 21722360.5 65967906 53450 152650 1192960 77150 2001364 58464478 1828892 256380 369333970 245452 30904143.5 113350 363860 22863402 90990 70232810 364500 2095350 52310 5260 19800 340698 69095485 33631147 901330 1136244 56640 2400250

351065 -44850110 -13709434 -3892215 -326540 -128462732 -328946 -52610 -16022127 -8585.5 -6600 136700 -56900 -29100 -6779.9999 -4052675 2629990 -439429.5 3584722 -287065 -404870 1265990 1128975 -93666 1816504 -123596 -5500 -3872134 -2309459 184870 20799126 871036 219500 334868 -18895055 1250000 -2223930 -451755 327594 14163330 19800 -226004 -4050000 2954470 -334880 -89605 -69180.0001 -199861355 -9777122 -3840106 46800 -70000 -455304 -33556230 -902534 -35413530 1008049 -137933 -8505756 -33772450 4350 -19264500 2007357 2000 -216962 -

PROPERTY

ARTHALAND CORP 0.76 0.77 0.78 0.79 0.77 0.77 368000 284920 AYALA LAND 46.95 47 46.6 47.1 46.6 47 14978400 703882690 23716970 BELLE CORP 2.43 2.45 2.49 2.49 2.41 2.45 189000 462660 -12050 A BROWN 0.76 0.77 0.78 0.78 0.76 0.78 55000 41880 CITYLAND DEVT 0.89 0.92 0.92 0.92 0.91 0.92 50000 45860 CROWN EQUITIES 0.24 0.245 0.24 0.248 0.24 0.245 830000 200260 CEB LANDMASTERS 4.25 4.3 4.26 4.3 4.22 4.25 340000 1447080 -157370 CENTURY PROP 0.495 0.5 0.5 0.51 0.495 0.495 4485000 2234425 62200 CYBER BAY 0.39 0.42 0.385 0.385 0.385 0.385 10000 3850 DOUBLEDRAGON 25 25.2 25 25.45 24.1 25 701800 17513485 -1233915 DM WENCESLAO 11.06 11.16 11.1 11.18 11.02 11.16 403400 4476506 EMPIRE EAST 0.5 0.51 0.51 0.51 0.495 0.5 671000 335670 EVER GOTESCO 0.125 0.134 0.125 0.125 0.125 0.125 390000 48750 FILINVEST LAND 1.52 1.53 1.53 1.54 1.52 1.52 4455000 6808810 -2027450 GLOBAL ESTATE 1.33 1.35 1.35 1.36 1.33 1.33 1610000 2160680 -266000 8990 HLDG 13.8 13.82 13.2 13.88 13.18 13.82 3094200 41646814 344070 PHIL INFRADEV 1.87 1.89 1.94 1.94 1.87 1.87 2927000 5532680 -556060 MEGAWORLD 5.44 5.45 5.6 5.72 5.44 5.44 17056400 94067447 -31420605 MRC ALLIED 0.345 0.35 0.355 0.355 0.345 0.35 5020000 1754850 10500 PHIL ESTATES 0.495 0.5 0.5 0.5 0.495 0.495 421000 209465 PRIMEX CORP 2.44 2.46 2.44 2.47 2.42 2.44 232000 565570 -49200 ROBINSONS LAND 23.8 23.9 24 24 23.6 23.9 3522100 84133725 56622030 PHIL REALTY 0.415 0.44 0.43 0.43 0.43 0.43 190000 81700 ROCKWELL 1.99 2 2 2 1.99 1.99 92000 183930 -77990 SHANG PROP 3.01 3.06 3.06 3.06 3.06 3.06 12000 36720 STA LUCIA LAND 1.67 1.68 1.61 1.69 1.51 1.68 3801000 5973020 SM PRIME HLDG 39.25 39.3 39.9 39.95 39.1 39.25 3434000 135042495 -45951115 STARMALLS 7.11 7.12 7.05 7.35 7.05 7.12 1411400 10219972 35700 SUNTRUST HOME 0.75 0.79 0.78 0.78 0.73 0.73 41000 30370 17020 PTFC REDEV CORP 45.3 54.7 45.3 45.3 45.3 45.3 400 18120 VISTA LAND 7.26 7.3 7.25 7.42 7.25 7.3 2492500 18267423 369490 SERVICES ABS CBN 19.48 19.58 19.48 19.72 19.46 19.48 63500 1239086 GMA NETWORK 5.26 5.29 5.3 5.3 5.23 5.26 203300 1072158 MANILA BULLETIN 0.59 0.6 0.6 0.6 0.58 0.6 760000 451300 GLOBE TELECOM 1859 1878 1865 1890 1859 1878 9405 17562145 -1480285 PLDT 1240 1241 1220 1240 1219 1240 189495 234035135 116850265 ISLAND INFO 0.127 0.128 0.127 0.128 0.124 0.127 1440000 179890 -1280 ISM COMM 5.02 5.03 4.95 5.05 4.95 5.03 790000 3960280 415730 NOW CORP 2.37 2.38 2.45 2.51 2.35 2.38 2136000 5187180 -148289.9997 TRANSPACIFIC BR 0.375 0.38 0.38 0.385 0.375 0.38 2550000 969650 -3800 PHILWEB 2.92 2.93 2.87 2.96 2.87 2.92 5041000 14710920 2GO GROUP 12.3 12.48 12.3 12.32 12.3 12.3 8000 98422 1232 ASIAN TERMINALS 14.86 16.62 16.78 16.78 16.78 16.78 4000 67120 CHELSEA 5.09 5.1 5.12 5.14 5.09 5.1 344400 1757446 57650 CEBU AIR 82.6 82.7 83 83 81.5 82.6 21970 1799606.5 47935.5 INTL CONTAINER 129 129.3 130 130.8 128.2 129.3 1172930 151765266 14081485 LBC EXPRESS 15.2 15.6 15.2 15.2 15.2 15.2 2000 30400 -24320 LORENZO SHIPPNG 0.88 0.89 0.85 0.89 0.81 0.88 1041000 905730 739180 MACROASIA 21.6 21.65 21.7 21.9 21.55 21.65 705400 15289445 266055 METROALLIANCE A 1.68 1.77 1.68 1.77 1.67 1.77 11000 18520 PAL HLDG 10.1 10.12 10.26 10.26 10.1 10.1 41400 418452 HARBOR STAR 2.87 2.88 2.85 2.94 2.83 2.88 507000 1469290 ACESITE HOTEL 1.26 1.35 1.29 1.29 1.25 1.25 48000 60920 BOULEVARD HLDG 0.072 0.073 0.073 0.074 0.073 0.073 13960000 1020660 WATERFRONT 0.7 0.71 0.72 0.72 0.7 0.7 978000 693940 19880 FAR EASTERN U 890 895 890 890 890 890 5130 4565700 -1842300 STI HLDG 0.67 0.68 0.68 0.68 0.67 0.68 1437000 974310 -102590 BERJAYA 2.36 2.37 2.45 2.45 2.31 2.37 297000 701390 -336350 BLOOMBERRY 12.68 12.72 12.64 12.74 12.5 12.72 5466400 69307482 512470 PACIFIC ONLINE 4.21 4.34 4.38 4.38 4.2 4.21 51000 215470 25280 LEISURE AND RES 3.71 3.73 3.69 3.74 3.69 3.71 520000 1929370 373810 PH RESORTS GRP 4.34 4.4 4.4 4.4 4.4 4.4 13000 57200 -0 PREMIUM LEISURE 0.78 0.79 0.8 0.82 0.79 0.79 2199000 1747590 98800 TRAVELLERS 5.63 5.66 5.61 5.63 5.61 5.63 2509200 14101704 -13934228 METRO RETAIL 3.36 3.38 3.41 3.41 3.36 3.38 1066000 3604130 -1648710 PUREGOLD 45.25 45.5 44.6 46 44.6 45.5 932900 42445130 -5408090 ROBINSONS RTL 78.5 78.85 78.6 78.9 78 78.85 254970 20,101,047.5( 6,662,644.4997) PHIL SEVEN CORP 119.8 120 119.9 120.2 119.9 120 961090 115328894 71750 SSI GROUP 2.63 2.64 2.66 2.7 2.61 2.64 7187000 19024120 -401590 WILCON DEPOT 16.22 16.26 16.14 16.34 16.12 16.26 1335200 21699824 10861304 APC GROUP 0.42 0.425 0.43 0.43 0.42 0.42 110000 46300 EASYCALL 10.08 10.2 10.2 10.54 10.04 10.08 45600 464258 GOLDEN BRIA 396 400 400 400 395 400 2810 1123310 IPM HLDG 7.04 7.05 7.05 7.05 7.05 7.05 13000 91650 PAXYS 3.04 3.37 3.23 3.38 3.19 3.38 7000 23010 10060 PRMIERE HORIZON 1.02 1.03 1 1.05 0.96 1.02 38821000 39349720 -3320160 SBS PHIL CORP 8.8 8.99 8.68 9 8.68 8.99 130300 1147679 MINING & OIL ATOK 11.28 11.74 11.98 12.3 11.2 11.98 4800 55830 APEX MINING 1.32 1.33 1.29 1.33 1.29 1.33 352000 459260 3870 ABRA MINING 0.0019 0.002 0.0019 0.002 0.0019 0.0019 36000000 69100 CENTURY PEAK 2.69 2.7 2.7 2.7 2.69 2.69 233000 626830 61870 DIZON MINES 8 8.14 8.11 8.2 8.1 8.1 4700 38091 FERRONICKEL 1.5 1.52 1.53 1.53 1.5 1.5 996000 1519990 263160 GEOGRACE 0.25 0.255 0.255 0.255 0.249 0.255 610000 152740 LEPANTO A 0.115 0.118 0.115 0.116 0.114 0.115 1220000 140310 LEPANTO B 0.111 0.122 0.12 0.12 0.11 0.11 320000 35300 -1200 MANILA MINING A 0.0081 0.0082 0.0082 0.0082 0.0082 0.0082 29000000 237800 MANILA MINING B 0.0081 0.0082 0.0082 0.0082 0.0082 0.0082 4000000 32800 MARCVENTURES 1.08 1.1 1.08 1.09 1.08 1.08 77000 83190 -2160 NIHAO 0.99 1.02 1.04 1.04 1 1.02 44000 44170 NICKEL ASIA 2.4 2.42 2.44 2.44 2.39 2.4 1896000 4564960 -1260430 OMICO CORP 0.56 0.57 0.57 0.57 0.57 0.57 329000 187530 ORNTL PENINSULA 0.9 0.91 0.9 0.91 0.9 0.9 141000 127890 PX MINING 3.09 3.11 3.14 3.14 3.11 3.11 93000 289650 -21770 SEMIRARA MINING 23.5 23.7 24.35 24.35 23.5 23.7 1118500 26685380 10136025 UNITED PARAGON 0.007 0.0074 0.0068 0.007 0.0068 0.007 2000000 13800 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 19400000 232800 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 100000 1100 PHINMA PETRO 3.06 3.1 3.1 3.11 3.1 3.1 15000 46510 PXP ENERGY 7.6 7.62 7 7.62 7 7.62 2743800 20357660 1267758 PREFFERED HOUSE PREF A 94.9 95.9 92.35 95.95 92.35 95.95 8000 764164 AC PREF B1 467.2 476.8 467.2 467.2 467 467 20 9342 AC PREF B2 482 497 485 497 485 497 20 9820 -4850 DD PREF 96.25 98 98 98 98 98 310 30380 SMC FB PREF 2 970.5 981 971 971 970.5 971 1090 1058250 GTCAP PREF A 874 934 899.5 900 874 874 360 315675 GTCAP PREF B 950 959 950 950 950 950 370 351500 LR PREF 1 1.01 1 1.01 1 1.01 649000 655400 PCOR PREF 2A 971 990 974 975 971 971 2150 2091810 SMC PREF 2C 76 76.5 76 76.5 76 76.5 10130 769945 SMC PREF 2E 71.75 72.5 72.1 72.55 71.5 72.55 65750 4722657.5 SMC PREF 2F 73.9 74 74.75 74.75 73.8 73.8 91240 6749117.5 SMC PREF 2G 73.6 74.35 73.6 73.6 73.6 73.6 1500 110400 SMC PREF 2H 72.25 73.7 72 72 72 72 200 14400 SMC PREF 2I 73 73.45 73.45 73.45 73 73.45 26910 1975639.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

18.42

19.76

18.7

18.4

18.42

169600

3143334

WARRANTS LR WARRANT

1.88

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.09 XURPAS 1.21

1.92

1.97

1.87

1.92

44000

83590

5.1 1.22

5 1.22

5.18 1.25

4.96 1.19

5.09 1.22

530000 4173000

2679890 5091700

-252500 -1852310

EXHANGE TRADE FUNDS FIRST METRO ETF

117.4

-990154

117.7

117.6

117.7

117.4

4290

504407

56448

www.businessmirror.com.ph

MCT upgrades services in CDO

By Lorenz S. Marasigan

@lorenzmarasigan

HE Mindanao Container Terminal (MCT) is implementing an upgrade program that will help improve its services in Cagayan de Oro. In a statement, the company said it is “currently in the process of upgrading its terminal operating system,” amid a recently introduced “customer-centric business approach.” “Our ongoing modernization and changes in our current practices will propel us to become the leading port

in Mindanao,” the statement read. The company noted that equipment modernization at the port area is under way, adding it has installed new reach stackers, terminal tractors and trailers, and other cutting-edge equipment expected to be completed this year and in the middle of 2020.

“We aim to help spur economic growth in the countryside, especially now that Northern Mindanao, through the Misamis Oriental economic zone, is poised to become a prime investment hub in the region,” the statement read. Likewise, it has ordered additional equipment as part of its upgrades early this year as it expects more volume in shipments. “Now that more investments are coming into the Misamis Oriental economic zone, we have to be ready to accommodate the surge in demand,” the statement read. Currently, the port accepts both international and domestic shipments offering container handling services, yard management, reefer

monitoring services, and water bunkering, among others. The company aims to transform the port in Cagayan de Oro as a “transshipment hub connecting Northern Mindanao to the Visayas and other parts of the country.” “We continue to develop new products, distinct offerings and grow our transshipment business to help homegrown businesses in Cagayan de Oro and Mindanao expand their reach. With the ongoing modernization, MCT is set to become the first port of call for international vessels in Mindanao,” the statement read. MCT is a wholly owned subsidiary of global port management company International Container Terminal Services Inc.

Paleco, Delta P mutually agree to extend PSA By Lenie Lectura @llectura

AL AWAN Electric Cooperative (Paleco) and Delta P, a subsidiary of Vivant Corp., have agreed to extend their power-supply contract, in a bid to secure Palawan’s power requirements during summer months. Delta P will continue to supply 13.5 megawatts (MW) to Paleco for one year. “We just passed a one-year extension contract with Delta P on their old contract with an

energy contract of 13.5 MW,” Paleco board Chairman Jeffrey Tan-Endriga said. Delta P, established in 1997, is one of the independent power producers in Palawan. Paleco is the lone power distributor of Puerto Princesa City and 18 municipalities, serving 137,277 consumers as of June 2018. Demand for power increases during the summer months when temperatures go up. The entry of more tourists also increased power demand in the Paleco franchise area which in-

‘Stream Come True’ by Converge with IPTV

LARK FREEPORT—Gone are the days of ordinary cable TV. Converge Freedom has arrived! Subscribers here can now choose how they want to enjoy their favorite TV shows by revolutionizing the way they access its content via Converge Freedom, Converge ICT Solution’s newest offering. Powered by ICT’s pure fiber Internet, Converge Freedom, with the hashtag “Stream Come True,” is an online streaming service designed to access content at the users’ own pace and convenience. “We’re very excited to launch Converge Freedom [an Internet protocol or IP television product] as we give our valued subscribers the full power over what they watch, when they watch it, and where they watch it,” said Jesus Romero, Converge ICT COO during its launch on April 12. “With Converge Freedom IPTV, you can now rewind, if you want to watch a sequence in the episode you are watching or fast forward if it gets too boring, for up to seven days,”

Romero explained. “If you missed an episode, you can watch it at your own time and convenience for up to a week after it was originally shown,” he said. “This is not possible with the ordinary cable TV,” he added. Romero said the Converge Freedom IPTV can be likened to YouTube and Netflix because it has linear content that is streamed online. “Unlike the illegal devices where you cannot make a complaint in case the channels get lost, with Converge Freedom you are backed up by the company that can help you if it develops a problem,” he said. “You call us. We will fix it.” Converge Freedom IPTV can also work on smart phones, tablets, PCs or with the box itself, he pointed out. It means you will no longer be limited to watching your favorite programs on your TV, he said. “With Converge Freedom, you can watch anytime, anywhere in your home with its on-demand functionalities,” Romero added. Ashley Manabat

Belle income falls in Q1 as Pacific Online drags

ELLE Corp. on Monday said its income fell 18 percent during the first three months of the year to P700 million from P851 million last year. Consolidated revenues reached P1.9 billion, down 6 percent from the P2 billion achieved in the same period in 2018. “Although Belle continued to experience growth at City of Dreams Manila, its overall operating performance was affected by weaker results at Pacific Online Systems Corp., which leases online betting equipment to the Philippine Charity Sweepstakes Office for their lottery and keno operations,” the company said. Belle’s gaming unit, Premium Leisure Corp., registered an increase of 9 percent in its share in the gaming earnings of City of Dreams Manila, to P725 million for the first quarter from P664 million in 2018. This was offset by the performance of PLC’s 50.1 percent-owned subsidiary, Pacific Online, which posted a 48-percent decrease in revenues.

Pacific Online revenues only reached P294 million from P560 million last year, largely to competition from the small town lottery. “Pacific Online is working closely with the PCSO and its network of agents to boost the attractiveness of the pari-mutuel games it offers, and is working to implement cost efficiency measures across its operations,” it said. Belle’s real-estate operations, meanwhile, saw an 8-percent increase in revenues to P873 million from P809 million last year. Of the current quarter’s real-estate revenues, P668 million came from Belle’s lease of the land and buildings comprising City of Dreams Manila to Melco Resorts and Entertainment (Philippines) Corp. (Melco), which was a 17-percent improvement over the first quarter of 2018. Belle’s realestate sales and property management activities at its Tagaytay Highlands complex contributed the balance of P205 million. VG Cabuag

cludes Puerto Princesa City and the municipalities of Aborlan, Narra, Brooke’s Point, Sofronio Española, Cuyo, Magsaysay, Quezon, Roxas, Taytay, El Nido, Araceli, San Vicente, Bataraza, Rizal, Balabac, Cagayancillo, Agutaya and Dumaran. Paleco also has a separate 20MW contract with Delta P, but only the 13.5 MW expired on April 4, which was renewed by the board. “We have demand forecast of 55 MW to 58 MW this summer. Our available capacity is 60.5 MW so we really need to have an additional or

MUTUAL FUNDS

a contingency power while waiting for our confirmation on CSP [competitive selection process] by the National Electrification Administration [NEA] and Department of Energy [DOE],” Tan-Endriga said. Tan-Endriga leads the “Task Force Palawan Power” created to conduct a comprehensive institutional, financial and technical audit of Paleco to improve its systems. The task force is composed of representatives of the DOE, National Power Corp., NEA, Energy Regulatory Commission and Paleco.

April 22, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 261.29 -0.55% 0.98% 1% 3.59% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.598 1.67% 9.29% 2.97% 10.91% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.082 -2.13% 1.25% -0.02% 4.59% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9346 1.4% N.A. N.A. 4.95% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8638 N.A. N.A. N.A. 5.25% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4426 1.63% 0.86% 0.72% 3.25% MBG EQUITY INVESTMENT FUND, INC. -A 127.71 10.24% N.A. N.A. 9.66% ONE WEALTHY NATION FUND, INC. -A 0.8686 -0.61% -3.83% N.A. 4.35% PAMI EQUITY INDEX FUND, INC. -A 51.603 2% 1.94% N.A. 4.87% PHILAM STRATEGIC GROWTH FUND, INC. -A 539.51 1.64% 0.97% 0.7% 4.81% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3046 2.62% 2.53% 3.55% 4.04% PHILEQUITY FUND, INC. -A 38.4098 2.31% 3.31% 2.94% 4.85% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0292 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2249 2.37% 2.79% 2.96% 5.37% PHILIPPINE STOCK INDEX FUND CORP. -A 872.1 2.49% 2.47% 2.89% 5.26% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9235 4.13% 1.8% N.A. 7.23% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2888 3.59% 2.89% 2.09% 5.66% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0028 1.98% 2.47% N.A. 5.08% UNITED FUND, INC. -A 3.7006 4.41% 4.8% 2.87% 5.7% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 116.6802 2.86% 3.54% 3.96% 5.36% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0474 -5.83% 7.2% 1.78% 12.73% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2928 -0.09% N.A. N.A. 16.98% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7102 -0.26% -0.64% -1.56% 3.57% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3048 -0.32% 1.05% 0.65% 4.33% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6217 1.46% -0.71% -1.55% 3.06% GREPALIFE BALANCED FUND CORPORATION -A 1.3475 -0.93% N.A. N.A. 3.31% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.909 2.36% 1.18% 1.17% 3.58% PAMI HORIZON FUND, INC. -A 3.656 0.35% -0.11% 0.25% 3.59% PHILAM FUND, INC. -A 16.5075 1.44% 0.11% 0.29% 3.77% SOLIDARITAS FUND, INC. -A 2.1333 1.56% 1.5% 1.97% 2.94% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8272 2.85% 1.25% 1.31% 4.81% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9897 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9889 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.987 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9723 2.66% 1.14% N.A. 5.49% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.036 2.1% 0.32% 1.53% 2.13% PAMI ASIA BALANCED FUND, INC. -A $1.0048 -5.19% 3.64% -0.12% 7.33% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7191 0.24% 5.96% 3.06% 12.41% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0916 -0.59% N.A. N.A. 8.08% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.68 2.84% 2.06% 2.13% 1.25% ATRAM CORPORATE BOND FUND, INC. -A, 1 1.8823 0.92% -0.14% -0.24% 1.24% COCOLIFE FIXED INCOME FUND, INC. -A 3.0154 5.3% 5.24% 5.29% 1.5% EKKLESIA MUTUAL FUND INC. -A 2.1577 2.31% 1.08% 1.79% 1.28% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2536 1.8% 0.32% 0.89% 2.01% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6027 0.35% -0.85% 0.24% 2.45% PHILAM BOND FUND, INC. -A 4.0207 1.15% -0.58% 0.66% 2.57% PHILEQUITY PESO BOND FUND, INC. -A 3.5962 2.99% 0.88% 1.2% 2.25% SOLDIVO BOND FUND, INC. -A 0.9172 0.63% -0.59% N.A. 2.76% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8776 3.93% 1.18% 1.72% 4.04% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5955 3.43% 0.61% 1.23% 3.61% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $453.85 2.53% 1.7% 2.83% 1.24% ALFM EURO BOND FUND, INC. -A Є215.85 1.24% 1.37% 1.55% 1.5% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1662 4.32% 1.49% 2.28% 3.59% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0251 1.21% 0.54% N.A. 1.21% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7124 -0.64% -1.44% 0.88% 1.31% 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 $1.0587 1.67% -0.81% -2.42% 2.03% PHILAM DOLLAR BOND FUND, INC. -A $2.2505 3.26% 0.16% 2.78% 3.65% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0580757 2.4% 1.1% 1.77% 1.92% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9598 0.94% -0.42% 2% 3.05% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.38 3.41% 2.17% 1.77% 1.27% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.008 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1958 2.72% 1.17% 0.76% 1.18% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2341 3.25% 2.48% 1.86% 1.24% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0234 2.06% N.A. N.A. 0.74% * - 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

www.businessmirror.com.ph

The World BusinessMirror

Editor: Angel R. Calso • Tuesday, April 23, 2019

Seven suicide attackers behind Sri Lanka blasts

OLOMBO, Sri Lanka—The coordinated Easter Sunday bombings that ripped through Sri Lankan churches and luxury hotels were carried out by seven suicide bombers, a government investigator said on Monday. A n analysis of the attackers’ body parts made clear that t he y we re s u ic id e b omb e r s , said A r iyananda Welianga, a forensic crime investigator. He said most attacks were by one bomber, with two at Colombo’s Shangri-La Hotel. The bombings, Sri Lanka’s deadliest violence since a devastating civil war ended a decade ago on the island nation, killed at least 290 people with more than 500 wounded, Police Spokesman Ruwan Gunasekara said on Monday. Meanwhile, Sri Lankan police investigating the bombings are examining reports that intelligence agencies had warnings of possible attacks, officials said on Monday. Two government ministers have alluded to intelligence failures. Telecommunications Minister Harin Fernando tweeted, “Some intelligence officers were aware of this incidence. Therefore there was a delay in action. Serious action needs to be taken as to why this warning was ignored.” He said his father had heard of the possibility of an attack as well, and had warned him not to enter popular churches. And Mano Ganeshan, the minister for national integration, said his ministry’s security officers had been warned by their division about the possibility that two suicide bombers would target politicians.

The police’s Criminal Investigation Department, which is handling the investigation into the blasts, will look into those reports, Gunasekara said. Earlier, Defense Minister Ruwan Wijewardena described the blasts as a terrorist attack by religious extremists, and police said 13 suspects had been arrested, though there was no immediate claim of responsibility. Wijewardena said most of the bombings were believed to have been suicide attacks. But officials have yet to say who they believe is behind the attacks. The Tamil Tigers, once a powerful rebel army known for its use of suicide bombers, was crushed by the government in 2009, and had little history of targeting Christians. While anti-Muslim bigotry has swept the island in recent years, fed by Buddhist nationalists, the island also has no history of violent Muslim militants. The country’s small Christian community has seen only scattered incidents of harassment in recent years. The explosions—mostly in or around Colombo, the capital— collapsed ceilings and blew out windows, killing worshippers and hotel guests in one scene after another of smoke, soot, blood, broken glass, screams and wailing alarms. A morgue worker in the town of Negombo, outside Colombo, where

Sebastian’s Church damaged in blast in Negombo, north of Colombo, Sri Lanka, on Sunday, April 21. More than 200 people were killed and hundreds more injured in the blasts that rocked churches and hotels in and just outside Sri Lanka’s capital on Easter Sunday. AP Photo/Chamila Karunarathne

Saint Sebastian’s Church was targeted, said many bodies were hard to identify because of the extent of the injuries. He spoke on condition of anonymity. At the Shangri-La Hotel, a witness said “people were being dragged out” after the blast. “There was blood everywhere,” said Bhanuka Harischandra a 24-year-old from Colombo and founder of a tech marketing company. He was heading to the hotel for a meeting when it was bombed. “People didn’t know what was going on. It was panic mode.” Most of those killed were Sri Lankans. But the three bombed hotels and one of the churches, Saint Anthony’s Shrine, are frequented by foreign tourists, and Sri Lanka’s Foreign Ministry said

the bodies of at least 27 foreigners from a variety of countries were recovered. The US said “several” Americans were among the dead, while Br ita in, Ind ia, China, Japan and Portugal said they, too, lost citizens. The streets were largely deserted on Monday morning, with most shops closed and a heavy deployment of soldiers and police. Stunned clergy and onlookers gathered at Saint Anthony’s Shrine, looking past the soldiers to the stricken church. The Sri Lankan government lifted a curfew that had been imposed during the night. But most social media remained blocked on Monday after officials said they needed to curtail the spread of

false information and ease tension in the country of about 21 million people. Prime Minister Ranil Wickremesinghe said he feared the massacre could trigger instability in Sri Lanka, and he vowed to “vest all necessary powers with the defense forces” to take action against those responsible. The Archbishop of Colombo, Cardinal Malcolm Ranjith, called on Sri Lanka’s government to “mercilessly” punish those responsible “because only animals can behave like that.” The scale of the bloodshed recalled the worst days of Sri Lanka’s 26-year civil war, when the Tamil Tigers, from the ethnic Tamil minority, sought independence from the Sinhalese-dominated

country. The Sinhalese are largely Buddhist. The Tamils are Hindu, Muslim and Christian. Sri Lanka, off the southern tip of India, is about 70 percent Buddhist. In recent years, tensions have been running high between hardline Buddhist monks and Muslims. Two Muslim groups in Sri Lanka condemned the church attacks, as did countries around the world, and Pope Francis expressed condolences at the end of his traditional Easter Sunday blessing in Rome. Six nearly simultaneous blasts took place in the morning at the shrine and the Cinnamon Grand, Shangri-La and Kingsbury hotels in Colombo, as well as at two churches outside Colombo. A few hours later, two more blasts occurred just outside Colombo, one at a guesthouse where two people were killed, the other near an overpass, Atapattu said. Also, three police officers were killed during a search at a suspected safe house on the outskirts of Colombo when its occupants apparently detonated explosives to prevent arrest, authorities said. Authorities said a large bomb had been found and defused late Sunday on an access road to the international airport. Air Force Group Captain Gihan Seneviratne said on Monday that authorities found a pipe bomb filled with 50 kilograms (110 pounds) of explosives. It was large enough to have caused damage to a 400-meter (400-yard) radius, he said. Harischandra, who witnessed the attack at the Shangri-La Hotel, said there was “a lot of tension” after the bombings, but added: “We’ve been through these kinds of situations before.” He said Sri Lankans are “an amazing bunch” and noted that his social media feed was flooded with photos of people standing in long lines to give blood. AP

Pope denounces ‘cruel violence’ Oil jumps as US seen eliminating of Sri Lanka Easter Sunday attack Iran waivers after May 2 expiry O V

ATICAN CITY—Pope Francis denounced the “cruel violence” of the Easter Sunday slaughter of Christians and foreigners in Sri Lanka as he celebrated the most joyful moment on the Christian liturgical calendar by lamenting the bloodshed and political violence afflicting many parts of the world. Francis skipped his homily during Easter Mass but delivered his traditional “Urbi et Orbi” (To the city and the world) speech highlighting conflicts in the Mideast, Africa and the Americas, and demanding that political leaders to put aside their differences and work for peace. “May the one who gives us His peace end the roar of arms, both in areas of conflict and in our cities, and inspire the leaders of nations to work for an end to the arms race and the troubling spread of weaponry, especially in the economically more advanced countries,” Francis said from the loggia of Saint Peter’s Basilica overlooking the flower-decked square below. In a special appeal at the end, Francis lamented the “grave attacks” on Sri Lankan hotels and churches, which occurred just as the Christian faithful were celebrating Easter Mass that marks the resurrection of Christ following his crucifixion. “I want to express my loving closeness to the Christian community, targeted while they were gathered in prayer, and all the victims of such cruel violence,” Francis told a crowd of around 70,000 people in Saint Peter’s Square. “I entrust to the Lord all those who were tragically killed, and pray for the injured and all those who are suffering as a result of this dramatic event.”

More than 200 people were killed and hundreds wounded following near-simultaneous blasts at three Sri Lankan churches and three hotels frequented by foreigners. In his Easter roundup of global conflicts, Francis warned that the world was increasingly becoming resigned to the ongoing battle in Syria. He called for a “renewed commitment for a political solution” that would respond to Syrians’ need for freedom, peace and justice, and allow for millions of refugees to return home. He lamented how children in Yemen are “exhausted by hunger and war,” while in North Africa, Libyans are enduring a fresh round of fighting between rival forces battling for control of Tripoli, the capital. “ I u r ge t he p a r t ie s i nv ol v e d to choose d ia log ue over force a nd to avoid reopen i ng wou nd s left by a decade of conf licts and pol it ic a l i nst abi l it y,” he sa id of Libyan leaders. Francis said he hoped the political and religious leaders of South Sudan would open a “new page in the history of the country” and work for reconciliation. Francis hosted South Sudan’s president and opposition leader for a remarkable retreat at the Vatican earlier this month, during which the pope bowed down and kissed their feet, begging them to work for peace. And history’s first Latin American pope also offered prayers for Venezuelans and Nicaraguans experiencing political and economic hardship and “all those who lack the minimal conditions for leading a dignified and secure life due to a crisis that endures and worsens.”

The Vatican said popes sometimes either deliver an off-the-cuff homily on Easter Sunday or skip it altogether, given the lengthy speech and blessing that follows. Easter completed an exhausting schedule of Holy Week events for the 82-year-old Francis. He went to a prison outside Rome to wash the feet of inmates on Holy Thursday, presided over the Way of the Cross procession at Rome’s Colosseum on Good Friday, and celebrated the Easter Vigil late Saturday night in Saint Peter’s Basilica. AP

il rose to the highest level in almost six months as the US government was said to eliminate sanction waivers that allowed buyers to import Iranian crude. Futures in London jumped as much as 3.3 percent to the highest intraday price since early November. Secretary of State Mike Pompeo will deliver the decision on Monday that no waivers from sanctions will be renewed to importers of Iranian oil, according to four people familiar with the matter. The US will also announce offsets through commitments from other suppliers such as Saudi Arabia and the United Arab Emirates. Oil has rallied almost 40 percent this year as the Organization of the Petroleum Exporting Countries and its allies including Russia continued their commitment to curb output in a bid to avert a glut. US sanctions on Iran and Venezuela, along with unexpected

losses in Libya, have further squeezed supplies. Signs of slowing production growth in the US and disruption at a key Nigerian pipeline are also bolstering bullish sentiment. “Prices are rallying as expectations are growing that global supply will be immediately curtailed with the US said to be scrapping its Iran oil waivers,” said Kim Kwangrae, a commodities analyst at Samsung Futures Inc. in Seoul. “That’s coming on top of the dialing back of US explorers.” Brent for June settlement climbed as much as $2.34 to $74.31 a barrel on the London-based ICE Futures Europe exchange and was at $73.69 a barrel at 2:36 p.m. in Singapore. The contract rose 35 cents on Thursday, capping a fourth weekly advance. No futures were traded in London or New York on Friday due to the Good Friday holiday. Bloomberg News

B4 Tuesday, April 23, 2019

STORYWRITING SCHOOL AT SUNSHINE PLACE

UNSHINE Place’s storywriting school opens its workshop on how to write love stories to be conducted by Joem Antonio (in photo). He received his Master of Arts in Humanities degree with specialization in History from the University of Asia and the Pacific (UA&P); and his Doctor of Philosophy in Creative Writing degree from the University of the Philippines, Diliman (UP). He is currently teaching humanities, literature and theater arts at the UA&P. He won eight Don Carlos Palanca Awards for plays and short stories, and was also recognized as Best Playwright in Short+Sweet Manila 2014 for his entry Death in Ten Minutes. Two of his children’s short stories Ang Ampalaya sa Pinggan ni Peepo and Sa Tapat ng Tindahan ni Mang Teban have been published under Lampara Books. His plays have been staged in different high schools and universities, as well as in international theater festivals. Abridgments of his plays, The Floret Road and exesanonymous.com were staged at the awards nights of the 66th and 67th Carlos Palanca Memorial Awards. Joem’s writing workshops are distinct from both the “Great Writers” approach (which relies on the

BELLEVUE’S FIRST REGIONAL ‘PLOGGING’ EVENT A SUCCESS

A teacher heavily criticizing the students’ work) and the “therapeutic” approach (which focuses merely on proliferation). He believes in “writing by design,” wherein the writer is trained to anticipate and predict a reader’s probable response to the text based on the writer’s understanding of reality and language. The goal of his workshop is for the student writer to gain the ability to put ideas into paper and to see how the choice and organization of language fulfills the writer’s objective. The storywriting school is a learning community for people who dream of writing great stories. This will give you the tools to get your story written and see the story idea through. Registration and enrolment may be done online at https://www.Storywritingschool.com/courses/enroll. For inquiries, e-mail at seniorhubjupiter@gmail.com.

40TH NATIONAL CONFERENCE OF EMPLOYERS SET ON MAY 28, 29

HAT’S in store for business and industry in the future, in the face of continually emerging trends and technologies? The challenges are immense given the Internet of Things, artificial intelligence, drones, mobile apps for communications and robotics in manufacturing, among others. It is against this backdrop that the Employers Confederation of the Philippines (Ecop) is girding for its upcoming 40th national conference of employers (NCE 40). This will be held on May 28 and 29 at the Marriott grand ballroom A and B. ECOP Governor Federico Marquez Jr. chairs this year’s NCE 40 organizing committee, with Butch Guerrero and Ernie Cecilia as cochairmen. ECOP Honorary President Rene Y. Soriano is the supervising governor. Bannering the theme “Future-Proofing Business and Industry”, the NCE 40 looks at creating new business

models and how companies are able to imbed technology to their product. In this way, they can get feedback data in real time, and learn from how the product is performing and how it can be improved. With the new Industrial Revolution taking shape, it is poised to bring down walls among suppliers, producers and consumers and, in some cases, the whole industry. Experts say where industry boundaries begin, where these end and who are the main players will be up for grabs in a number of sectors. The NCE 40 will look at what’s happening on different industries with the unfolding industrial order. This will be capped by the awarding ceremonies of the Kapatiran sa Industriya (Kapatid) Awards on May 29. The thrust of the Kapatid Awards is to recognize outstanding companies that excel in industrial peace and harmony, productivity and quality, social accountability, and strategic visioning and partnering for business growth and job generation.

LEGITIMIZE PATROL LINE OF WORK—PARTY-LIST

IGNING bills into laws takes a long and arduous process to ensure all possible considerations before enactment. Ammendments to the the Private Security Industry Act had the same fate on June 21, 1969. “It has been almost 50 years since the law was first passed—many have changed but the law remains the same—[and], in the 19th congress, we hope we are able to [amend] this law to benefit our security guards,” said Democratic Independent Workers Association Party-list first nominee Michael Edgar Yan Aglipay. The proposed amendments seeks to professionalize the industry by intensifying requirements for training and certifications of security practitioners. It aims to cease modus operandi of fly-by-night security agencies and, more important, uplift the plight and status of security guards by ensuring them safe and healthful working conditions; strict compliance to the labor standards; extending renewal of security guard licenses; and separation-pay benefits.

The proposed bill also includes enacting into law a retirement plan for security guards who has been in continuous service. All these are provisions that security guards need to be receiving. While it may take some time, a congruent move by Diwa Party-list chairman and former Philippine National Police chief General Edgar B. Aglipay, Philippine Association of Detective and Protective Agency Operators Inc. chairman Ramon Bergado, the Department of Labor and Employment, Supervisory Office for Security Investigation Agencies and other stakeholders was made as they have has pushed for the implementation of the DOLE Department Order 150-16, or the “Revised guidelines governing employment and working conditions of security guards and other private security personnel in the private security industry”, providing the same benefits as indicated in the proposed ammendments to be implemented by security agencies. This is a great leap fighting for the rights, welfare and dignity of our security guards.

METROBANK SHINES IN PDS AWARDS NIGHT

ETROPOLITAN Bank and Trust Co. (Metrobank) garnered the prestigious Cesar EA Virata Award Best Securities House (Bank category) at the recently concluded 14th Philippine Dealing System (PDS Group) annual awards. The Cesar EA Virata Award is the highest honor bestowed by the PDS Group to a fixed-income securities dealer that has exceptional performance in trading, distribution and settlement activities for the year. Metrobank has won this award for six consecutive years. “Being awarded the top prize six times is, indeed, a

great honor. But what makes this award truly special is that it validates our efforts in staying in the market even in the most trying times,” said Metrobank Senior Executive Vice President Fernand Antonio Tansingco, who was in attendance to receive the bank’s many awards. Apart from the Cesar EA Virata Award, Metrobank also received the following accolades: Top 5 PDDTS-PvP Participants (fourth); Top 5 Fixed-Income Cash Settlement Banks (fourth); Top Dealing Participant (corporate securities); Top 5 Fixed Income Brokering Participants (fifth); Top Brokering Participants Retail Transactions; Top Fixed-Income Dealing Participant; and a special citation for pilot issuance of bank-issued bond and commercial paper program. In photo are (from left) Metrobank Senior Vice President Anton Yap, Tansingco, Senior Vice President Jikee Reyes, First Vice President Kathryn Abes, and First Vice President Ricardo Pedrosa after a successful award run at the 14th Annual PDS Awards.

FTER the success of its largest international coastal-cleanup initiative in Bohol last 2018, the Bellevue Resort held this year’s first-ever plogging event in Panglao, in support of the worldwide 2019 Earth Hour campaign. As a recipient of the Asean Green Hotel awards for two consecutive years, the resort vowed to continuously launch new and sustainable green initiatives. On March 30, as early as 5 a.m., 310 dedicated earth heroes from various sectors and local volunteers gathered at The Bellevue pavilion to “plog”—a combination of jogging while picking up litter that encourages wellness and awareness—promoting the importance of keeping our environment clean and safe. A total of 1,095 kilograms of nonbiodegradable trash were collected from Doljo Road to Doljo Beach. This event is in support of The Bellevue Resort’s sustainable tourism advocacy playing an active role in protecting our environment. Theresortalsohostedenvironmental-

awareness talks and waste segregation to help further educate members of the community of the importance of taking care of the earth. Other activities held at The Bellevue Resort were an eco-fair that featured

various eco-friendly products from our local partners in Bohol; Bellevue Kids Club’s organic-farm educational tour with tree-planting activities for local kids in Doljo; and a lights-off dinner event from 8:30 to 9:30 p.m.

NEW WORLD MANILA BAY HOTEL NAMES NEWLY PROMOTED RESIDENT MANAGER

EW World Manila Bay Hotel is delighted to announce the promotion of Nantha Kumar (in photo) as the hotel’s resident manager. Wit h a l most t wo dec ades of hospitality experience, Nantha has imparted his managerial expertise to New World Manila Bay Hotel since becoming its executive assistant manager for food and beverage in 2016. In his new role, Nantha will oversee the hotel’s day-to-day operations with a strong regard toward sustainability, striving to lessen product wastes and reduce plastic use throughout the hotel. He also aims to keep the hotel’s number one position on TripAdvisor by sharing the same passion with the team in providing guests with genuine and heartfelt service. Nantha has a rich understanding of luxury hospitality, being able to hold executive positions with several international hotel brands. Before joining the Rosewood Hotel Group in 2012, he was with Shangri-La

hotels and resorts as the director of food and beverage for t wo hotels; a nd New World Shanghai Hotel and Pentahotel Shanghai. He was then promoted to become the hotels’ executive assistant manager for food and beverage prior to joining Rosewood Sanya’s pre-opening team in 2016. In the same year he headed to the Philippines to become t he e xec ut ive assistant manager for food and beverage of New World Manila Bay Hotel. A Malaysian national, Nantha is a graduate of Stamford College in Kuala Lumpur, holding a diploma in American hotel and motel association. New World Manila Bay Hotel is at 1588 Pedro Gil corner MH del Pilar Streets, Manila. For more information, visit newworldhotels.com.

PHILCONSTRUCT BREAKS GROUND IN CLARK

HILCONSTRUCT, the country’s most celebrated and longestrunning construction-trade event, marked its latest expansion to the north. The three-day event opened at the Asean Convention Center until March 30. T he c e re mo ny w a s at t e nd e d by industr y veterans led by n o - l e s s t h a n Tr a d e S e c r e t a r y Ramon Lopez. He is along w it h De l f i n We nces l ao, pa st president of the Philippine Constructors Association ( P C A ); Tr a d e U n d e r s e c r e t a r y for Sp e c i a l Conce r n s A d b du l g a n i Macatoman; Isidro Consunji, chairman of the Philippine Overseas Constr uction Board; Judith Angeles, regional d i r e c t o r, D e p a r t m e nt o f Tr a d e and Industr y (DTI) Region 3 ; Tr a d e U n d e r s e c r e t a r y f o r Competitiveness and Ease of Doing Business Group Rowel Barba; Morris Agoncillo, pre s id e nt of P C A ; P u bl ic Wor k s Undersecretar y Cathy Cabra l; E n g r. F lore nc io Pa d e r n a l ; L e v y Espiritu, past president of PC A ; Noemi Ju lian, manager of C lark Development Cor p.; E n g r. Jo s hu a B i n gc a n g , s e n io r vice president of BCDA; Tr a n s p or t at io n Und e r s e c re t a r y Benny Reynoso; and Jerr y Pancho, overa l l chair man of

Ph i l con s t r u c t L u z on . “Philconstr uct Luzon was launched to mark t wo major milestones for us. Philconstruct, the biggest construction show in the country, is now on its 30th year; its series in [the] Visayas and Mindanao are both celebrating its 10th year this 2019,” Agoncillo shared. “Not all shows are given this prestige of staying this long and successful in the sector. This is also why we are opening a new series this year, the Philconstr uct Luzon, which a lso marks the 75th year of PCA. We are overwhelmed with the support and partnerships that we are acquiring time and time again.” A mon g t he h i g h l i g ht s of t he e v e nt w a s t he l au nc h i n g of t he Con st r uc t ion I ndu st r y R oad M ap 2020 -20 3 0, w h ic h out l i ne s fou r pi l l a rs of g row t h for t he i ndu st r y : I n st it ut ion s (pr iv ate a nd publ ic), p ro du c t i v it y, s u s t a i n a b i l it y a nd g lob a l i z at ion . With this road map in place, t he t a rgeted tot a l spend ing for the industr y under the road map i s a m i n i m u m o f P4 0 t r i l l i o n a nd m a x i mu m of P 13 0 t r i l l ion in ten years. T he road map was prepared by the Reid Foundation, and commissioned by the DTI Constr uction Industr y Author it y of the Philippines and the PC A . At the opening ceremony, event

chair man Jer r y Pancho ex pressed his thanks to Lopez for not only for g racing the event but for choosing Philconstr uct Luzon as the venue to launch the road map. “Your support in this event gives a new level of optimism as we open the show. We are a l l aware of the robust actions of the gover nment towards t he Bui ld Bui ld Bui ld prog ram, and one of these major projects is the activation of the New Clark Green Cit y, which is one of the reasons Clark, Pampanga, is soon going to be the countr y’s f uture metropolis....” Philconstruct Luzon and various constr uction projects in Centra l Luzon are cer tainly exciting developments in the reg ion. The groundbreaking ceremony was witnessed by Duke Zuluaga, president of the Chamber of Furniture Industr ies in t he Phi l ippines; Cezar Punsa lan, convention chairman of Philippine Society Of Ventilating, A irconditioning And Refr igerating Eng ineers; Francis Sar rondo, president of PSVA R E; Barry Paulino, executive director of PCA; Cristina Tuzon, president of the Bulacan Chamber of Commerce I nc .; Tr ade A ssi st a nt S e c ret a r y Angelo Taningco; Lilit Tumbocon, president of the PCA Foundation; and as well as other distinguished representatives from the industry.

Sports BusinessMirror

| Tuesday, April 23, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ENGLAND þ SPAIN þ ITALY þ R

The Associated Press

OME—The breakthrough under Alex Ferguson at Manchester United. Then the coronation at Real Madrid. And now another title at Juventus. If ever there was a need to emphasize Cristiano Ronaldo’s impact as a footballer, the five-time Ballon d’Or winner did it again this weekend by helping Juventus to the Serie A title in his first season in Italy. In doing so, the 34-year-old Ronaldo became the first player in history to win league titles in the English Premier League (with United), the Spanish league (Madrid) and Serie A (Juventus). “I’m very happy to have won in England, Spain and now the league title in Italy, as well,” Ronaldo said. “It meant a lot to me, and it means a lot to us as a team.” Other players have won titles in three of the five major European leagues (England, Spain, Italy, Germany and France) but nobody had previously put together the combination of England, Spain and Italy. David Beckham played in four of the top leagues but only won titles at United (six), Madrid (one) and Paris Saint-Germain (one), having failed to lift the Serie A trophy during his two loan spells at AC Milan. Zlatan Ibrahimovic won four Serie A titles (three with Inter Milan and one with AC Milan), the Spanish league with Barcelona and four French championships with PSG. Brazil fullback Maxwell was on many of those same teams as Ibrahimovic and also won in Italy, Spain and France. Then there was Arjen Robben, who won the Premier League twice with Chelsea before adding a Spanish title at Real Madrid and seven Bundesliga trophies at Bayern Munich. Another Dutchman who achieved the feat was Mark van Bommel, with titles with Barcelona, Bayern Munich (two) and AC Milan. While Juventus also won the league in the seven seasons before Ronaldo’s arrival, there was no doubting his impact in Turin. With 19 goals and six assists in 27 Italian league matches this season, Ronaldo played a part in nearly 40 percent of Juventus’ goals. So it came as no surprise when his dangerous cross from a sharp angle was redirected in by a defender as an own-goal for the winner in Juve’s 2-1 win over Fiorentina on Saturday—giving the Bianconeri more than the single point they needed to secure a record-extending eighth straight title with five rounds remaining. It’s the sixth league title of Ronaldo’s career. The first came as a 22-year-old at United, ending a four-year drought for Ferguson’s squad as Ronaldo scored 17 goals—three fewer than Didier Drogba’s league-best 20. That was just a warm-up for what came next. In 2007-08, Ronaldo led the Premier League with 31 goals and helped United to the league title and the

Champions League trophy. Another Premier League title came the following season as Ronaldo finished second in the scoring charts with 18 goals, behind only Nicolas Anelka, who had 19 for Chelsea. While Ronaldo won only two Spanish league championships in his nine seasons at Madrid, he also helped the team to four Champions League trophies— including three consecutive European titles over the last three seasons. When Juventus acquired Ronaldo in a €100-million ($112 million) transfer last year, the expectation was that he would help end the club’s long chase for a Champions League trophy. Ronaldo did his part by scoring a hat trick to overturn a first-leg deficit against Atletico Madrid in the opening knockout round and goals in both legs of the quarterfinals against Ajax, but the Bianconeri were still eliminated by the Dutch club. “Next year is a new page, the fans all want it, and so do we,” Ronaldo said. “It is an important trophy, but it’s difficult to [win].” A Champions League title with Juventus would enable Ronaldo to match another multiple nation and multiple team record—joining Clarence Seedorf as the only players to win the trophy with three different clubs.

BARCA FANS UPSET WITH COUTINHO

PHILIPPE COUTINHO seems to have only himself to blame for the jeers that greeted him at Camp Nou. Coutinho had a rough reception on Saturday when he went on as a substitute in his first appearance since making a gesture during a midweek victory over Manchester United that many Barcelona fans considered disrespectful. The trouble started on Tuesday when, instead of soaking in the cheers for his goal to cap a 4-0 aggregate win over United, Coutinho opted to put a finger in each ear as if to block out the applause for his superb strike. Many in Spain have interpreted the gesture as Coutinho sending a message that he was fed up with the criticism he has received for not living up to the clubrecord transfer fee paid by Barcelona last year. Besides appearing dispirited at times on the field, he has only scored once in his last 21 Spanish league appearances. Coutinho has said that he did not mean to offend. “The truth is that [the gesture] was so that the people can see that very often I have to cover my ears to keep my focus on the game,” Coutinho said about the incident, when interviewed on the KOKO DC YouTube channel. The incident came during what was arguably his best performance for Barcelona, as he helped it reach the Champions League semifinals for the first time in four years. The Brazil midfielder combined well in his passes with attack partners Lionel Messi and Luis Suarez. And he seemed to have found the perfect time to mark a turnaround with Barcelona’s fans and local

EYMAR returned from injury, and the prolific Kylian Mbappe reached the 30-goal mark as Paris Saint-Germain (PSG) celebrated retaining the league title earlier on Sunday with a 3-1 home win against Monaco. The 20-year-old Mbappe increased his leagueleading tally with his third hat trick of the campaign. Neymar congratulated him on his third goal of the night after coming on for the second half. The Brazil star sustained a broken right foot in January. Striker Edinson Cavani also returned from a thigh injury picked up in February, coming on during the second half. PSG hopes to have its front three ready to start next Saturday’s French Cup final against Rennes. PSG players wore commemorative jerseys with Notre Dame written on the back instead of their names, in a tribute to the firefighters who put out the huge blaze at Notre Dame Cathedral on Monday night. There was also a Notre Dame print on the front of the jerseys. PSG’s sixth title in the past seven years was already sealed at 5 p.m. local time, because second-place Lille could only draw 0-0 at Toulouse. Lille had to win to have any chance of catching PSG, but its draw and PSG’s subsequent win opened up the gap to 19 points with five games left. After failing to clinch the title in the past three matches, drawing one and losing two, PSG looked on song at last and kept Monaco—which won the title in 2017—mired in relegation trouble. Monaco is 16th and only four points above 18th spot in the promotion-relegation playoff position. Mbappe pounced in the 15th minute with a fine finish, but did not celebrate that goal against his former club. He celebrated the second, which came in the 38th, with a forward roll, and got a smile of recognition from Neymar after tapping in his third from Dani Alves’s pass in the 56th. Russia midfielder Aleksandr Golovin pulled one back for Monaco with 10 minutes left.

TAKING THEIR TIME

ALTHOUGH the title was long expected, especially from a side scoring 95 goals in 33 games, it took longer than it should have. PSG could have won it three matches ago, but drew 2-2 at home to Strasbourg when a win would have clinched it. Then PSG needed a draw at Lille last Sunday, only to lose 5-1 in the club’s heaviest defeat since Qatari investors QSI took charge of the club in June 2011. A win at Nantes would have sufficed, too, on Wednesday night only for PSG to lose, 3-2. The 10 goals conceded in three games made for PSG’s worst during a three-game spell since 1985.

PHILIPPE COUTINHO seems to have only himself to blame for the jeers that greeted him at Camp Nou. AP

By Andrew Dampf

Neymar returns as PSG celebrates title with 3-1 victory on home turf

media—who have demanded more from him—when he curled a brilliant long-distance strike past David de Gea to cap a 3-0 second-leg win. That’s when his fingertips popped into his ears, spoiling the moment. Now there will surely be more talk about whether the club should try to sell him. Barcelona coach Ernesto Valverde still hasn’t given up on him, though. “I believe that there are things that are just anecdotes, but that everything that happens in our club is given a lot of relevance,” Valverde said after Saturday’s 2-1 win over Real Sociedad, when Coutinho was jeered. “Our fans are with Coutinho and Coutinho is with our fans.” The friction between one of its most talented players and the club’s supporters is the only blemish on the final stretch of Barcelona’s season. Barcelona is on course to defend its league title and has reached the final of the Copa del Rey. Coutinho will get a chance to redeem himself when Barcelona faces his former club, Liverpool, in the Champions League semifinals.

GETAFE’S DREAM

A MODEST club from a working-class neighborhood in Madrid, Getafe has never played in the Champions League. But the competitive spirit instilled by Coach Jose Bordalas has his team five matches away from achieving the momentous feat for a club that normally measures success by how far it finishes from the relegation zone. Its best finish was sixth place in 2010. Getafe moved ahead of Sevilla and into fourth place—the last spot that earns a Champions League berth from Spain—with a commanding 3-0 win on Sunday. Bordalas has coached Getafe since 2016-17, when he led it back to the top flight after one season in the second division. His successful formula is based on team defense and a physical style of play. That, and the seemingly simple concept that each player does his job. “Whatever happens, this season has been fantastic,” Bordalas said. “Our rival today has a budget that is four times as big as ours. We are aware of this and are taking things one step at a time, remaining humble while we see how far we can go. “Our secret is the commitment by all our players. They know what the team needs and their role.”

OTHER GAMES

SAINT-ETIENNE kept the pressure on local rival Lyon in the race for third place and a spot in the Champions League qualifying rounds with a 2-0 win at Reims. Fourth-place Saint-Etienne is three points behind third-place Lyon. Winger Remy Cabella’s goal put SaintEtienne ahead in the 25th and the second was an own-goal from Belgian defender Bjorn Engels shortly after the break. Striker Kalifa Coulibaly scored twice as 13th-place Nantes beat 17th-place Amiens 3-2. AP

NEYMAR and his teammates wear commemorative jerseys with “Notre-Dame” written on the back instead of their names in a tribute to the firefighters who put out the huge blaze at Notre Dame Cathedral. AP

WHILE Juventus also won the league in the seven seasons before Cristiano Ronaldo’s arrival, there was no doubting his impact in Turin. AP

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ALAS

PHOENIX EYES EQUALIZER P

HOENIX tries to bring the series on equal footing when it takes on San Miguel Beer (SMB) in Game Four of their best-of-seven semifinals duel in the Philippine Basketball Association Philippine Cup on Tuesday at the Cuneta Astrodome in Pasay City. Thanks to their narrow 92-90 escape on Sunday for their first win in three matches, the Fuel Masters have gained confidence to make it two games apiece and send the showdown to a best-of-three affair. With the momentum shifting to its side, Phoenix has all the reasons to savor its first victory in the team’s first

P Generals stay in contention

ATANGAS-EMILIO Aguinaldo College (EAC) stayed in the running for the Philippine Basketball Association Developmental League playoffs after beating Family Mart-Enderun, 91-90, on Monday at JCSGO Gym in Cubao. Chris de la Peña scored the game-winning layup with 13.8 seconds left as the Generals thwarted Valandre Chauca’s alley-oop pass to Joseph Kouakou late to run away with the victory. De la Peña finished with 12 points and three rebounds as Batangas-EAC snapped its fourgame losing skid to improve to 2-5 won-lost in the Aspirants Group. “Last time, I told them that we should learn how to win,” said Coach Oliver Bunyi, looking back on the Generals’ 122-119 double-overtime loss to AMA Online Education last week. “This game, the effort was there, and I’m very proud of them that whatever my instructions were, they heeded,” he added. Earvin Mendoza topscored for Batangas-EAC with 18 points, four rebounds and two assists, Marwin Taywan chipped in 14 points, five assists and four boards, and Allan Martin got 10. It was a tough defeat for the winless Family Mart-Enderun as it got dealt with its sixth defeat in as many outings. The Titans were also eliminated from playoff contention, sending Chauca’s 30-point performance down the drain anew.

Makati boys prevail in Singapore

OAQUIN COLLO struck in extra time as Makati Football Club (MFC) nipped Asia Football School Indonesia, 1-0, to capture the Boys 13’s (2006) Cup gold medal in the JSSL Singapore Professional Academy 7s on Sunday at the The Tampines Hub in Singapore. MFC made it to the Cup after finishing second in Group A with 10 points and won every match in the knockout stages. MFC advanced to the finals with victories over Indonesian sides SBAI Garuda Jaya (1-0) and ASSBI (1-0) and avenged its group stage loss to JSSL FC-1 of Singapore with a masterful 1-0 win in the semifinals. MFC also emerged victorious in the Boys 10’s (2009) Plate Final against China’s Aksil 1, 1-0, and achieved a silver medal in the Boys 16’s (2003) Cup, where it even played a professional team from Australia, Perth Glory. “Our boys 16s qualified for the Professional division, which included the likes of Arsenal, Urawa Reds, Valencia, Fulham and Perth Glory,” SeLu Lozano, chief operating officer of MFC, said. The JSSL Singapore Professional Academy 7s— the biggest youth football tournament in Asia— lured 420 teams from 17 countries this year. MFC has also fielded in seven other teams in the three-day competition—in the boys 9s, 11s, 12As, 12Bs, 14 sand 15s brackets, as well as in the girls 14s category—the most brought from an international side. The club, which won the overall championship last year and claimed the “Paul Parker Trophy,” went on to achieve a third place this year.

ETRON and F2 Logistics try to book another finals duel when they clash with separate foes in Game One of the Philippine Superliga Grand Prix best-of-three semifinal series on Tuesday at the Filoil Flying V Centre in San Juan. Petron takes on Cignal at 7 p.m. right after theF2 Logistics-PLDT Home Fibr match at 4:15 p.m. All eyes will be on Petron, which is coming off a 14-game classification phase sweep and a rousing quarterfinal victory over Sta. Lucia. Petron Coach Shaq de los Santos said their success should not be credited to their imports Stephanie Niemer and Katherine Bell alone, as their local crew led by Mika Reyes, Aiza MaizoPontillas, Frances Molina, Denden Lazaro, Rhea Dimaculangan and Remy Palma also stepped up in their bid to corner their second straight Grand Prix title. “I’m very happy with them [Bell and Niemer]. They have been very professional and can easily adjust anytime,” said de los Santos, who is looking to become the second coach to sweep the entire tournament. “But I also tell our local players not to rely on our imports. That’s why I’m so happy to see them respond and deliver the goods, whether on offense or on defense. This winning run is truly a total team effort from the girls,” he added.

semifinals appearance. The squad may take it to a longer route when the two teams collide again at 7 p.m. Matched against the four-time All-Filipino champions, the Fuel Masters had a turbulent start and lost by an average margin of 11 points in the first two games. Sensing the urgency to avoid a 3-0 hole, Phoenix rose to the occasion and scored a twopoint triumph in the nail-biting Game Three. Head Coach Louie Alas finally heaved a sigh of relief after their breakthrough win. “We’re still alive and breathing,” Alas said. “It’s our resiliency that towed us in Game Three. Hopefully, we can continue that in Game Four.” Alas believes that defense will give

Petron, F2 Logistics face separate rivals in semis But the Blaze Spikers’ vaunted roster should prepare for the worse. The HD Spikers blew hot and cold in the classification, but are now beaming with confidence after dominating United VC, who brought in a new import in Thai superstar Sutadta Chuewulim, in the quarterfinals. Imports Erica Wilson and Ana Artemeva are now blending perfectly with the local players bannered by Rachel Anne Daquis, Janine Navarro, Jheck Dionela and national team member Mylene Paat, making them very dangerous and capable of pulling off an upset. “I think we have already found the right formula entering the semifinals,” said Cignal Coach Edgar Barroga, adding that they are no spring chickens as Daquis, Dionela and Paat are no strangers to pressure-packed battles. “If they are ready, we are also ready. We have already studied all possible attack options and made some adjustments defensively. Petron is the best team in the league right now, but we would go to the semis with enough confidence to

Polidario-Magdato duo lead Dumaguete Open field UNIVERSITY of Negros Occidental-Recoletos alumnae Alexa Polidario and Erjane Magdato are out to defend their crown.

NIVERSITY of Negros Occidental-Recoletos alumnae Alexa Polidario and Erjane Magdato return to the site of their successful championship run last year as the Beach Volleyball Republic On Tour: Dumaguete Open unwraps on Friday at the Rizal Boulevard sand court in Dumaguete City. Polidario and Magdato emerged victorious over Samaa Miyagawa of Japan and Tin Lai of Hong Kong in the Negros Oriental capital last November, the most well-attended leg of the

them a good shot at upsetting the defending champions. “You can’t beat SMB in a shootout. So long as we keep them out of the century mark in scoring, we have a chance,” he said. “I think we have to play consistent basketball for the whole 48 minutes to have a chance.” It’s a easier said than done though, and Alas knows the Beermen are itching for payback. “SMB is a super tough team. They come back right away,” he said. Battling the flu, Matthew Wright scored 18 points in Game Three, including six free throws late in the game that sealed their victory. Calvin Abueva was on his usual beast mode with 18 points, 13 rebounds and five assists. Ramon Rafael Bonilla

four-year old beach volleyball circuit. A firm believer that sports is a great equalizer, Dumaguete Mayor Felipe Antonio Remollo hopes that the hosting of the BVR leg will solidify the city’s status as the sports tourism capital in the central Philippines. Winners of two BVR legs last year, Polidario and Magdato will face tough opposition in the two-day, double-gender event. Perlas’s Bea Tan and Dij Rodriguez are hoping to make it three in a row after their undefeated

dethrone them.” “It’s going to be a very interesting battle.” Also expected to draw attention is the encounter between F2 Logistics and PLDT Home Fibr. The Cargo Movers also made a strong impact in the classification, but the Power Hitters shocked them with a four-set conquest on March 16, making their semifinal collision very exciting and dramatic. But Ramil de Jesus, who will be stacked against an equally seasoned Coach Roger Gorayeb, is confident in the ability of his wards. “We’ve been in this situation before, and we are in a very familiar territory,” said de Jesus, who will bank anew on imports Lindsay Stalzer and MJ Perez, as well as local stars Aby Marano, Majoy Baron and Dawn Macandili. “We won’t be taking PLDT lightly because we know that they’re capable of springing a surprise. We have prepared hard for them, especially their imports who played extremely well in the quarterfinals.” runs in the Puerto Galera and Santa Fe, Bantayan Island legs last month, while the international pair of Yuen Ting Chi and Lok Shun are also eyeing to make an impact in the 12-team field. The National University-Boysen’s sister tandem of Roma Joy Doromal and Roma Mae Doromal, Air Force 1’s May Ann Pantino and Jozza Cabalsa, Smash Bacolod’s Bianca Lizares and Jennnifer Cosas, and the University of Santo Tomas duos of Babylove Barbon and Gen Eslapor, and MJ Ebro and Derie Virtusio, are the other women’s pairs to watch. Completing the cast are University of Saint La Salle’s (USLS) Nohlin Jundana and Ceejay Recayo, Air Force 2’s Mikaela Andres and Angel Antipuesto, Sipalay City’s Jesalen Moises and Gelamie Villanueva, and Rizal Technological University’s Reyann Cañete and Sayrel Bermeo. There are two international pairs in the 12-team men’s division in Chueng Chek Hong and Li Chun Kit, and Wong Ka Yun and Tse Kin Wang, as well as the host Dumaguete, which is represented by Buen Sayson and Reynald Catipay. Air Force’s Jessie Lopez and Ranran Abdilla, who also ruled Puerto Galera and Santa Fe, Bantayan Island last month, are also vying for their third crown as in many legs this year. Also slugging it out for the men’s championship are the Visayas’s Jade Becaldo and Mike Abria, Colegio de San Agustin-Bacolod’s Marvin Haresco and Mike Anton Beronio, NU-Boysen’s James Buytrago and Pol Salvador, UST’s Efraem Dimaculangan and Rancel Varga, USLS-Bacolod’s Herold Parcia and Deanne Neil Depedro, Bacolod’s Christian Marcelino and Simon Aguillon, Gandang Laban’s Rawsa Inaudito and Nichol Jundana and Perpetual Help’s Jayjay Solamillo and John Patrick Ramos. After Dumaguete, the BVR on Tour will hold its fifth leg in Lingayen, Pangasinan, on April 30 and May 1.

Nets GM fined $25K, suspended for entering referees’ locker room

EW YORK—Nets General Manager Sean Marks was suspended one game without pay and fined $25,000 by the National Basketball Association (NBA) on Sunday for entering the referees’ locker room after Brooklyn’s loss to Philadelphia in Game Four of their playoff series. The Nets lost 112-108 on Saturday in a game in which Brooklyn’s Jared Dudley and Philadelphia’s Jimmy Butler were ejected after a scuffle broke out following Joel Embiid’s flagrant foul against Jarrett

Allen in the third quarter. The Nets were already angry about a flagrant foul Embiid committed against Allen in Game Two, believing it should have warranted an ejection, and Coach Kenny Atkinson complained that the 76ers held Allen before he turned the ball over on the Nets’ last chance to tie on Saturday’s game. Atkinson said coaches were told that wrapping players as they tried to roll to the basket would be a point of emphasis this season.

The NBA agreed with Atkinson on Sunday in its Last 2 Minutes report, determining that Tobias Harris should have been called for a foul for wrapping his arm around Allen and restricting his movement with 12 seconds remaining. Marks’s penalty was announced by Byron Spruell, the NBA’s president of league operations. He will serve his suspension on Tuesday, when the 76ers try to wrap up the series in Game Five in Philadelphia. AP

WARRIORS L OS ANGELES—A little scoreboard watching inspired Klay Thompson and Golden State. Seeing Houston up 3-0 on Utah combined with having dropped a game at home, the Warriors got back to business. Kevin Durant scored 33 points, and Thompson added 32 in a 113-105 victory over the Los Angeles Clippers on Sunday that gave the Warriors a commanding 3-1 lead in their first-round playoff series. “We came in with that mindset to put our foot on the throttle and not let go,” Thompson said. “We let go in Game Two and we won’t do that the rest of the playoffs. I really believe that.” After a quiet 12 points in Game Three, Thompson broke out for 27 points by halftime, when Durant had 19. “In the first quarter, we really didn’t need to do anything special. Klay was just amazing. K.D. was consistent the whole game,” Stephen Curry said. “For us, obviously with the threats we have out there, it is just a matter of trying to be as patient as possible.” Curry’s patience was tried as he missed his first six shots and was in foul trouble for the second straight game before finishing with 12 points. Andrew Bogut fouled out with 5:50 remaining in the game with eight points and 10 rebounds.

Game Five is on Wednesday in Oakland, when the two-time defending champions could close out the series. The Warriors were 17 of 19 from the free-throw line. They controlled the boards, 49-33, led by Curry and Bogut with 10 rebounds apiece. “The rebounding really hurt us again,” Clippers coach Doc Rivers said. “Right now they are crushing us on the glass.” Coming off a 27-point loss in Game Three, the Clippers played tougher defensively and hung in after trailing by 11 in the second quarter. They outscored Golden State 30-25 in the third when they rallied to take a five-point lead. But Curry scored seven of the Warriors’ final 10 points to send them into the fourth ahead 87-84. “This team was just looking for a crack,” Durant said of the Clippers. “They don’t stop. Even when you go home after the game you’re going to be thinking of them because they’re tough.” The Clippers narrowed it to 87-86 early in the fourth, but Thompson sank his sixth 3-pointer and the Clippers never got close the rest of the way. Rookie Shai Gilgeous-Alexander led the Clippers with a career-high 25 points. Danilo Gallinari added 16 points but was just 5 of 20 from the floor. Patrick

‘CENTENNIAL V’ WINS HK TO GALERA RACE S

TANDARD Insurance Centennial V made a rousing debut by winning line honors in the inaugural 650-nautical mile Hong Kong to Puerto Galera (Mindoro) Yacht Race over the weekend. Veteran sailor and Standard Insurance Group Chairman Ernesto Echauz steered the highly advanced racing yatch—a Rachel Pugh 75 redesigned by multiawarded naval architect Kevin Dibley—to a winning time of 85 hours, 33 minutes and 56 seconds.

With two female sailors and members of the Philippine sailing team on board, Centennial V beat second-place entry Geoffrey Hill’s Santa Cruz 72 Antipodes by 11:46.27. This marks a first in the race’s history that a Philippine yacht has won line honors—although the Centennial Sailing Team has won several overall IRC championships, including the Rolex China Sea Race and San Fernando Race. BROOKLYN Nets Head Coach Kenny Atkinson (third from right) restrains Nets forward Jared Dudley (second from right) during the second half of Game Four of their series against the 76ers on Saturday. AP

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HILIPPINE Open champion Clyde Mondilla gets the rare chance to showcase his wares against idol and fellow Del Monte ace Frankie Miñoza in one of the key matches ushering in the 15th The Country Club (TCC) Invitational on Tuesday at the dreaded TCC layout in Santa Rosa, Laguna. Defending champion Korean-American Micah Shin slugs it out with local top guns Elmer Salvador and Jhonnel Ababa; reigning Philippine Golf Tour Order of Merit titlist Jobim Carlos takes on multi-titled former winner Tony Lascuña and American Lexus Keoninh; and former Asia’s No. 1 Juvic Pagunsan clashes with Dutch Guido van der Valk and Albin Engino in the other featured face-offs in the first two days of the 72-hole championship kicking off the Philippine Golf Tour’s (PGT) milestone 10th season. Redemption will be Pagunsan’s battle cry this week after the smooth-swinging shotmaker missed the cut in the Philippine Open following a seven-shot romp at PGT Asia Riviera. He also seeks to bounce back from a joint 22ndplace effort with Mondilla at Luisita. Pagunsan and Angelo Que actually boast of three victories each here, and the lure of becoming the first player to win a record fourth crown should also motivate the veteran campaigners in the event organized by Pilipinas Golf Tournaments Inc. Que launches his drive for that historic feat at 8:40 a.m. with young Korean Kim Joo Hyung and Macedonia’s Peter Stojanovski even as PHL Masters champion Jerson Balasabas tangles with Mhark Fernando and American Pete Vilairatana at 7:30 a.m. and veteran Jay Bayron mixes it up with Zanieboy Gialon and Anthony Fernando in the next group. Only the top 30 players in the 2018 PGT Order of Merit ranking are competing in the P5-million event, thus making it an elite championship that has long been ranked alongside the

CLYDE BATTLES IDOL FRANKIE

SOLAIRE Philippine Open champion Clyde Mondilla is the man to watch at The Country Club.

Philippine Open for its prestige, prize money and stellar cast. And the well-kept Tom Weiskoph-designed layout provides the fitting venue for these select players given its length, hazards, sleek putting surface and the unpredictable wind that could alter the character of each hole in an instant. The field is toughened up by the presence of seven foreign aces, including Vilairatana, who took over the spot of Miguel Tabuena, the 2017 winner here but who has been out of tournament play with a back injury. Mondilla, who reigned at TCC with a two-over total to snare the Solaire Philippine Open crown three weeks ago, hopes to recall his fierce form and at the same time learn more from the veteran Miñoza with James Ryan Lam completing the group teeing off at 8 a.m. Shin, who upended Tabuena by one last year to become the first non-Filipino winner of the event put up

by International Container Terminal Services Inc. (ICTSI) Chairman Ricky Razon in 2003 to honor the memory of his father and ICTSI Founder Don Pocholo, sees a tough start against Salvador and Ababa in their 8:50 a.m. duel, his confidence boosted by a joint third-place finish in last week’s ICTSI Luisita Championship, the first leg of the PGT Asia third season. Carlos, on the other hand, hopes to come out and play injury-free after hurting his hand in the Philippine Open that forced him to withdraw after the opening round. He did play at Luisita but didn’t fare any better and missed the cut, although he remains upbeat of his chances in his 8:30 a.m. showdown with Lascuña and Keoninh. Completing the 10-flight sked are Aussie Tim Stewart, Arnold Villacencio and Reymon Jaraula at 8:10 a.m., Justin Quiban, Nilo Salahog and Rene Menor at 8:20 p.m., and Joenard Rates, Michael Bibat and Keanu Jahns at 9 a.m.

Thai aims for repeat

T THE Warriors’ Kevin Durant dunks against the Clippers’ Landry Shamet. AP

UP, 3-AND-1 Beverley had 12 points and 10 rebounds. “He played with no fear,” Durant said of GilgeousAlexander, “and that’s what kept them in the game most of the game.” Super subs Lou Williams and Montrezl Harrell were held to 12 and 10 points, respectively. They were limited to a combined eight points in the second half. “We hadn’t been able to get everyone on the same page and to have good games on the same night,” Williams said. “My success has been predicated on everyone playing well, and we just haven’t been able to get that going.” The Clippers opened the second on a 13-3 run to tie it 35-all, but Thompson made two free throws that put Los Angeles down 10 later in the quarter. The Clippers closed within four, but Durant completed a four-point play to stretch the lead to eight points at halftime. Gordon Hayward scored 20 points, and Marcus Morris started a decisive three-point flurry late in the fourth quarter on Sunday to give the Boston Celtics a seriesclinching 110-106 victory at Indiana. It’s the first four-game sweep for the Celtics since 2011 and their second since 1986-87, becoming the first team to reach the second round of the playoffs. Bojan Bogdanovic finished with 22 points, and Tyreke Evans finished with a playoff career high of 21 to lead the Pacers. It still wasn’t enough to prevent Indiana from

“We are very happy about the new boat. It ran very well and it’s very fast. We had it refitted right before the race. We only had it ready the day before the start,” said Echauz, adding that Standard Insurance Centennial V not only represents the national sailing team and Philippine Navy but the entire country. “It gives pride to our Filipino seamen and OFWs that this top Philippine sailing yacht is crewed by an all Filipino team that wins in these ocean racing regattas,” he added. The all-Filipino crew included women laser sailors and FarEast28 team members Alaisa Belmonte and Paula Bombeo, and Southeast Asian Games medalist Louie Perfectua, who prepared the yacht together with Standard Insurance’s computer engineer Stephen Tan. The other helms were SEA Games gold and silver medalists Allan Balladares and Emerson Villena. The four-day race started in Kellett Island Clubhouse at Causeway Bay in Hong Kong. The 650-nautical-mile passage to Puerto Galera was the second-longest Category 1 yacht race in Asia after the Hong Kong to Vietnam Race. Standard Insurance Centennial V was the sole Philippine yacht that took part in the inaugural race that lured 14 other international yachts, including Fred Kinmonth and Nick Burns’s GTS 43 Mandrake III, winner of the 2018 Rolex China Sea Race. According to the crew, the Rachel Pugh 75 is remarkable, easier to handle and doesn’t need heavy muscle power because of its advanced technology compared to Centennial III, a TP52 class.

enduring its second first-round sweep in three years—the only two best-of-seven sweeps in franchise history. Damian Lillard scored 15 of his 24 points in the third quarter, and Portland held Russell Westbrook without a basket in the second half in beating Oklahoma City, 111-98, to take a 3-1 lead in their series. CJ McCollum scored 27 points, Al-Farouq Aminu had 19 points and nine rebounds, and Maurice Harkless added 15 points and 10 rebounds for the Trail Blazers. Portland can close out the series on Tuesday at home. Paul George had 32 points and 10 rebounds for Oklahoma City. Dennis Schroder added 17 points. Westbrook scored 14 points on 5-for-21 shooting. He missed his final 10 shots and was 0 for 7 for one point in the second half. Kawhi Leonard scored 34 points, and Toronto beat Orlando, 107-85, to take a 3-1 lead in their Eastern Conference first-round series. Pascal Siakam and Norman Powell each scored 16 for the Raptors, who can advance with a home win in Game Five on Tuesday. Toronto has now won three consecutive postseason games, only the third time that’s happened in franchise history. Aaron Gordon scored 25 for the Magic, making his first seven shots of the second half. Evan Fournier scored 19, and Nikola Vucevic added 11 for the Magic, who committed 17 turnovers that became 21 Toronto points. AP

ERNESTO “JUDES” ECHAUZ skippers Standard Insurance Centennial V to victory in the 650-nauticalmile race.

SEAG FEDERATION MEETING Celso

Dayrit (third from left), chairman of the Southeast Asian Games Executive Committee, expounds on a topic during Monday’s SEA Games Federation Meeting at a Pasay City hotel. With Dayrit is Philippine Olympic Committee President Ricky Vargas (right) and other council members. BERNARD TESTA

HAILAND’S Saruttaya Ngam-usawan returns to the scene of her first and only victory on the Ladies Philippine Golf Tour (LPGT) with the hope of ending a long spell in the International Container Terminal Services Inc. Royal Northwoods Ladies Classic, which gets going on Wednesday at the Royal Northwoods Golf Club Inc. in San Rafael, Bulacan. Ngam-usawan edged Cyna Rodriguez by two to rule the event in 2016 but failed to score a follow-up since, although a slew of Thai players have stepped up and kept their domination of the country’s premier ladies tour, including the last two tournaments won by Thanutra Boonraksasat at Southwoods last month and Arpichaya Yubol at Manila Golf two weeks ago. Boonraksasat is also in the Royal Northwoods list, ready to go for another victory in the circuit along with Jaruporn Na Ayutthaya, Numa Gulyanamitta, Sarinee Thitiratanakorn and Tirapan Yoopan, who is likewise due for a big win. Supakchaya Pattaranakrueang, who also won at Luisita last year, is also joining the P1.5-million tournament, further boosting the Thais’ bid in the 54-hole championship.

OBIENA SHATTERS ASIAN RECORD By Ramon Rafael Bonilla

RNEST JOHN OBIENA overcame a tough stretch of personal adversities to finally crown himself the continent’s best in men’s pole vault with a record-setting mark in the ongoing Asian Athletics Championships in Doha, Qatar. Enduring both his dismal performance in last year’s Asian Games and his long recovery from OBIENA an ACL injury that forced him out of the 2017 Southeast Asian Games, the 23-year-old Obiena soared for a golden leap on Sunday, flawlessly clearing the bar at 5.71 meters to beat two Chinese to the podium. The victory was made even sweeter as Obiena’s mark shattered his own national record and personal best by 10 centimeters—all on top of setting a new meet standard. “Thank you very much to everyone who stayed with

me through good and bad. This is for you,” Obiena wrote on his Facebook post. Adding color to the highlight-spiked feat of Obiena was the end of the decadelong goldmedal drought of the country after Marestella Torres ruled the women’s long jump in 2009. Clearing 5.56m and 5.61m in his last try, Obiena passed 5.66m after his failed initial attempt. He then set his sights on 5.71m and succeeded right on his first try. Obiena’s closest rivals, China’s Wei Zhang and Bokai Huang, both fumbled at 5.71m, thus paving the way for the Filipino to secure the top prize. The record-breaking gold-medal achievement earned for the son of former national vaulter Emerson Obiena a ticket to the world championships also in Doha in September.

Corpus up in match play elims

ARL CORPUS stumbled at the finish but still held on to the lead despite a one-over 73, one stroke ahead of Sean Ramos at the start of the 36-hole stroke play eliminations of the Philippine Amateur Open Match Play Championships at the Luisita Golf and Country Club in Tarlac on Monday. Corpus kept a one-under card with a two-birdie, one-bogey stint after 15 holes, but the 17-year-old defending champion, who rallied to beat Aniceto Mandanas at the Orchard last year, bogeyed the par-five 16th and dropped another stroke on the treacherous par-three 17th to settle for a 36-37. But that proved enough to net him the lead and zero in on the top seeding heading to the knockout phase starting tomorrow (Wednesday) as Ramos turned in a 74, and six players posted identical 76s in hot conditions at the tight, hazard-laden Robert Trent Jones Sr.-designed layout.

GUIAO IN FORUM

EAM Pilipinas Head Coach Yeng Guiao will be the special guest in the Philippine Sportswriters Association (PSA) Forum, which resumes on Tuesday at the Amelie Hotel-Manila. Guiao will be joined by Philippine Basketball Association Commissioner Willie Marcial in the session

Ramos hit three birdies but made three bogeys and a double-bogey for a 38-36 round, while Kristoffer Arevalo struck back with birdies on Nos. 15 and 16 to lead the fourover par scorers, who included Paolo Wong, Leandro Bagtas, Zachary Castro and Korean Kim Tae Soo. The top 16 players after two rounds of stroke play will advance to match play with Perry Bucay, Wiggam Tapdasan, Josh Jorge, Paqo Barro, Dan Cruz and Ha Tae Won, also of Korea, putting in similar 78s to stay in the hunt in the event sponsored by the MVP Sports Foundation and held as part of the PLDT Group National Amateur Tour. Fighting for slots are Santino Laurel, Dylan Castillo and Masaichi Otake, who shared No. 15 with 80s, while vowing to strike in today’s final elims play are Joaquin Gomez, Jacob Rolida and Korean Seo Dong Bin, who all had 81s, Ricardo Manotoc (83) and Jeffrey Gabe (84). presented by San Miguel Corp., Tapa King, Amelie Hotel and the Philippine Amusement and Gaming Corp. The two gentlemen will talk about the training and preparation of the national men’s team for the Fiba World Cup in China this August. Also part of the discussion is the formation of the men’s team for the country’s hosting of the 30th Southeast Asian Games. PSA members are enjoined to attend the session that starts at 10:30 a.m.

VINCENT JUICO @VJuico Instagram vpjp_j, vince. juico@gmail.com

SPORTS WITHOUT BORDERS

Dog musher Aliy Zirkle

THIS second to the last of my featured “Netflix Losers Documentary” series athletes is many-time dogsled race contender Aliy Zirkle. Zirkle is a champion of dogsled racing and a champion of caring for her dogs. According to a dogsled web site, “Aliy Zirkle moved to Bettles, Alaska, at age twenty and began mushing due to the remote nature of the town. She adopted six sled dogs began learning how to race and train dogs.” The Daily Pennsylvanian says, “A 1992 Penn graduate, Aliy Zirkle may not be a household name here in Philadelphia, but in Alaska, where she currently resides, Zirkle is a mushing celebrity.” Mushing, better known as dogsled racing, is a sport famous for grueling distance races. Teams of anywhere from eight to 14 trained sled dogs run for thousands of miles through the icy Alaskan terrain. The Iditarod, or as Zirkle refers to it, the “Super Bowl of dogsled racing,” kicks off every year on the first Saturday of March. For mushers brave enough to take on the challenge, the 1000-mile race from Anchorage to Nome can take anywhere from eight days to just short of two weeks.” An alumna of the University of Pennsylvania, Zirkle is a former multisport athlete playing volleyball and competing in athletics, namely the hammer throw, where in the Olympic trials she almost qualified. Zirkle owns, manages and operates SP Kennel, where she houses and cares for 50 of her dogs. Zirkle is a decorated musher as evidenced by “various awards throughout her mushing career, some of which were awarded to her by her fellow mushers. These awards include the Yukon Quest Challenge of the North award, given to the musher who “most exemplifies the spirit of the Yukon Quest, a spirit that compels one to challenge the country and win,” and the Iditarod Leonhard Seppala Humanitarian Award for exemplary care of her dogs. She is recognized by both her peers and competitors inside and outside the races. She treats her dogs like their athletes, her athletes. The Daily Pennsylvanian continues: “Even crossing the finish line of such a trying race is a huge accomplishment. Every year, only around 30 teams of dogs and mushers are able to complete the race, with many teams inevitably dropping out along the way. Zirkle boasts a career of impressive results, including three consecutive second-place finishes from 2012 to 2014 alongside three other top10 finishes. This past week, she finished her 18th Iditarod, placing fourth after holding the lead for a large portion of the early race. She eventually was overtaken by three other teams, including young gun Peter Kaiser, who ultimately secured his first career win. Because of the variety of factors that can affect the race progression, including weather and injuries and fatigue to the dog team, a key component of the sport is strategy. Part of the skill is choosing when to rest and recover the team. If the Iditarod is indeed the Super Bowl, mushers have the challenge of choosing when to take a mandatory halftime. It was with this decision that Zirkle attempted to get a leg up on her competition in this year’s race, choosing to delay her halftime in hopes of getting ahead of weather that she anticipated would hit the other mushers who had stopped earlier.” There are a lot of factors to consider in dogsled racing—the health of your dogs, weather, when to rest and recover. It is a test of man and animal’s partnership. According to Zirkle, “I pushed ahead and most of my competitors stayed behind, and I was gambling on the fact that snow was going to fall behind me, but it fell on top of me. So it ended up slowing me down instead of slowing them,” Zirkle said. “It was a bit of a gamble, but I needed to do that in order to really try to win this year. You can just continue to do the status quo year after year, but then you’re going to continue to come in second, third, fourth, fifth. This was the one time I was like, ‘to heck with it, I’m going for it’.” There are a lot of risks in mushing, both calculated and uncalculated. Everything that can go wrong has gone wrong and can go wrong in dog sled racing. There’s lots of tangibles and intangibles, circumstances that are beyond your control. The Daily Pennsylvania’s Jess Mixon writes, “Zirkle is the only woman to have ever won the Yukon Quest, an arguably more grueling 1000-mile dogsled race. Kicking off every year in the heart of winter, the race is known for remarkably difficult weather conditions. There are only three people who have ever won the Yukon Quest and the Iditarod, and Zirkle would be the first woman to accomplish the feat. “In a sport extremely dependent on the speed of the dogs, not everyone shares Zirkle’s same concern for their well-being. She has won the Leonhard Seppala Humanitarian Award four times, given to a musher every year in the Iditarod that prioritizes dog care while embodying the competitive spirit of racing. “She regards her dogs as athletes and has devoted her life to raising and taking care of the over 50 dogs that she and her husband, fellow musher Allen Moore, house at SP Kennel.” Zirkle adds, “Dogs are both easier and more sensitive than people. They are easier because they always push themselves. In humans we have this mental hurdle that we sometimes have to get past, whereas dogs don’t have that. But that’s where you as a coach come in and have to say when to take it easy. You really have this bond with your team that surpasses just telling them what to do. It’s a dog-human relationship. As a coach you have to be the strong one.” Aliy went through one of the biggest adversities and challenges in her life when she and her dogs were stalked and hit by a drunken man on a snowmobile. “During her 2016 Iditarod, Zirkle and her dogs were attacked by a drunk man who repeatedly tried to hit her and her team with his snowmobile. They survived and continued on with the race, despite incurring injuries to some of the team.” The mushing or dogsled racing community in Alaska is a small community of competitors, but these competitors watch out for each other when they race. They don’t try to put each other down, and nobody tries to cheat by injecting their dogs with steroids or PEDs. In the documentary, Zirkle is a woman of resiliency and heart that has endeared her to mushing fans and aficionados in Alaska. A lesser human being would’ve given up after all the trials and tribulations she’s experienced.

Sports

WHISTLE-BLOWER LEFT OUT TO DRY

BusinessMirror

RDINO, Andorra—As a brave whistle-blower, Marco Trungelliti should be feeling good about himself. The Argentine player exposed matchfixing crooks in tennis, helped the fight against the criminal gambling syndicates that are corroding his sport from within and testified about dishonest fellow professionals who, in part thanks to his evidence, are now banned. But instead, the 29-year-old says doing the right thing cost him dearly. Ranked No. 139, he’s one of the few players so established in the sport willing to speak frankly about the fixers who pay athletes to lose so they can profit from bets on the crooked results. The price of Trungelliti’s honesty has been rejection by other players, and stress that hurt his health and his game. Compounding his unhappiness, Trungelliti also feels he’s been left out to dry by tennis administrators and their anti-corruption investigators. Having pumped him for evidence, he says they failed to publicly defend him against those in tennis who muddied his name, questioned his motives for giving evidence and labeled him a rat. “They just used me,” he says. “They just dropped me in the middle of the sea.” “It was a disaster, disaster. In my opinion, it was one of the worst procedures that I have ever seen,” he adds. “I’m still paying the price.” Trungelliti caused a sensation at the French Open last year when he, his younger brother, mother and 88-year-old grandmother squeezed into a rental car and dashed 1,000 kilometers (600 miles) tournament that opened at the last minute when injured players withdrew. What few knew at the time was that behind his easy smile, thick curls and feel-good 6-4, 5-7, 6-4, 6-4 first-round victory against Australian Bernard Tomic, Trungelliti was shouldering a weighty secret: He’d been a key witness in a match-fixing probe that snared three fellow Argentines, testifying even though he knew that, back in Argentina, he’d likely face a backlash for doing so. Best-known of the three was Nicolas Kicker, at No. 84, the highest-ranked player convicted so far of fixing matches. The Tennis Integrity Unit, the sport’s anticorruption body with 17 full-time staffers, an annual budget of nearly $5 million and veteran ex-police investigators, announced Kicker’s guilt just three days before the French Open, where he had been preparing to play. Neither the TIU nor Trungelliti gave even the slightest hint at the time of the role he’d played. In the aftermath, however, Trungelliti noticed player attitudes changing toward him. Even some he regarded as friends asked why he didn’t keep his mouth shut. “No one was saying ‘Hi’ any more. No one was looking at me,” he says. “It’s sad.” Contacted by The Associated Press, the TIU said it couldn’t comment because of its “long-standing confidentiality policy with regard to disciplinary hearings and witness evidence.” Behind the scenes, Trungelliti has repeatedly contacted the unit, asking without success for it to defend him. “Due to my participation in the trial, I receive all kinds of insults from players to managers,” he e-mailed the TIU last August. “They are trying soil my honor.” Trungelliti’s wife, Nadir, says there were times when the stress reduced him to tears. When he was playing, he just wanted to be home. He smashed rackets. A back injury flared again. But he’s not shutting up. Trungelliti says match-fixing is an open secret in the game and getting worse. “It’s not just the players’ problem,” he says. “There are a lot of coaches involved. A lot. A lot. More than we think.” “If you are weak mentally, then you go in, you are all in, for sure, because it’s easy money,” he says. “If you think about it, this is like one hour working for $100,000.” The evidence bears him out. An investigation commissioned by tennis administrators concluded last December that bettingrelated corruption is “particularly acute and pervasive” at lower- and mid-level Futures and Challenger tournaments, below the top-tier ATP tour. Gambling syndicates often target players who, unlike the sport’s multimillionaire stars, struggle to make a good living. In Belgium, prosecutors say they identified 137 mostly lower-level players, from more than a half-dozen countries, suspected of having worked with an Armenian-led gang rolled up last June that allegedly paid €500 to €3,000 ($570 to $3,400) for fixed matches and sets. Police say the syndicate employed mules, people hired for a few dollars to place bets small enough to slip under the radar of gambling watchdogs. Two other match-fixing operations were broken up in Spain, in June and October. AP

MARCO TRUNGELLITI and his wife, Nadir, walk their dog in the principality of Andorra on Monday. AP

| Tuesday, April 23, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Australia beats Belarus, takes on France in final BARTY

By Jerome Pugmire

The Associated Press

ONACO—On the clay courts where he once practiced as a youth with big dreams, Fabio Fognini won the biggest title of his erratic career by beating Dusan Lajovic, 6-3, 6-4, on Sunday in the Monte Carlo Masters final. The local lad from nearby San Remo, a 40-minute drive away along the Mediterranean coast and over the Italian border, made a breakthrough at the highest level so far at the age of 31. Lajovic lost the first final of his career at age 28. Although it was Fognini’s ninth career title, it was his first at Masters level and will help him push closer to the top 10 when he climbs six places up to 12th in the rankings. “I was born in San Remo, and I was practicing here when I was young. I know really well this tennis club,” Fognini said. “My friends and family are happy now, because I have my name on this tournament that it’s something that when I was really young I was dreaming about.” The 13th-seeded Italian’s first title of the year came the day after he stunned defending champion Rafael Nadal in straight sets, becoming the first player to beat Nadal at the Monte Carlo Country Club since Novak Djokovic in the 2015 semifinals. “It has been an incredible week, I will keep working,” Fognini said. “I started the season badly so this is unbelievable.” After going out in the third round of the Australian Open, Fognini had won only one match and lost six times before this tournament. Somehow, he’s turned it all around—and it feels exhausting. “Mentally I’m so tired but really, really happy because I won a big tournament that was always my goal in my career,” he said. “We are talking about Masters Series and the next one is a Grand Slam. So it is second in the line.” Fognini’s career has seen many flashes of brilliance— his flicked, laser-beam forehands fly down the line at astonishing speed and his cross-court backhand is equally dangerous—but also many temper tantrums. A player who has beaten Nadal three times on clay in his career, and beaten Nadal once at the US Open after trailing by two sets, must be doing something right. But there have always been question marks hanging

FOGNINI REALIZES BOYHOOD DREAM over Fognini, and finally winning a Masters may help shed some self-doubt. “He definitely has the game for top 10,” Lajovic said. “We all know that tennis is not just tennis, it’s mental most of the time. So it depends on him.” The 48th-ranked Lajovic’s run to his first career final was unexpected. But the unseeded Serb rarely threatened in humid, overcast and slightly windy conditions. Fognini needed a medical timeout to receive treatment to his right foot and right thigh after the fifth game of the second set. But it did not impede him as he served out the match, clinching victory on his second match point when Lajovic hit a forehand wide. Lajovic graciously acknowledged he was outplayed. “I had to work much harder than him to win the points, this was the key,” he said. “When I was aggressive, I was able to make points and put him under pressure. But at times, my game was just off. I had a lot of unforced errors.” Fognini is only the fourth man to win the clay-court event since Nadal’s first of a record 11 wins in 2005. Djokovic, twice, and Stan Wawrinka also won. The last Italian before Fognini was Nicola Pietrangeli in 1968. The 85-year-old Pietrangeli, a two-time French Open winner, stood and applauded as Fognini dropped to his knees to kiss the surface. Pietrangeli walked gingerly onto the court and posed alongside Fognini as he held the trophy. The match started evenly enough, but Fognini broke for a 4-2 lead when Lajovic made an unforced error on forehand. Fognini then held his serve with a typically flamboyant onehanded, cross-court backhand to take control. Serving for the set, Fognini saved a break point with a forehand winner down the line, and then clinched it with an equally good backhand. Fognini broke for a 3-2 lead in the second set when Lajovic hit a forehand wide. After Fognini’s medical timeout, Lajovic missed an easy smash at 30-30 in the next game. With that miss, his slim hopes faded.

ALTHOUGH the Monte Carlo victory is Fabio Fognini’s ninth career title, it is his first at Masters level and will help him push closer to the top 10 when he climbs six places up to 12th in the rankings. AP

RISBANE, Australia— Australia advanced to the Fed Cup final for the first time in more than a quarter century after Ashleigh Barty and Samantha Stosur beat Aryna Sabalenka and Victoria Azarenka of Belarus, 7-5, 3-6, 6-2, in a decisive doubles match on Sunday. Australia will play in the final for the first time since 1993, and will face France, which beat Romania 3-2 on clay at Rouen in the other semifinal. Australia will host the November 9 and 10 final. Earlier on Sunday, Azarenka beat Stosur in the second reverse singles, 6-1, 6-1, in 59 minutes to even the match at 2-2 on a hard court at Pat Rafter Arena. In the second set, Azarenka went ahead 3-1 when Stosur double-faulted to set up break point. Azarenka’s win was met with loud cheers from the small but noisy group of Belarusian fans waving their country’s red and green flag. In the day’s opening match, Barty beat Sabalenka 6-2, 6-2 to give Australia a 2-1 lead. Barty is 20-3 in singles in 2019 and won the two-week Miami tournament. She made it to the quarterfinals at the Australian Open and also won all three matches she played —two singles and doubles—in helping Australia beat the United States 3-2 in the previous round of the Fed Cup. “I feel fortunate ... to have the stage in April and we’ll get to share it again in November,” Barty said. “I don’t remember anyone talking about just making the final and I think that’s a good thing.” On the first day, Barty beat regular doubles partner Azarenka, 7-6 (2), 6-3, after Sabalenka had given Belarus a 1-0 lead with a 7-5, 5-7, 6-3 win over Stosur. Barty’s win on Saturday ended Azarenka’s 13-match winning streak in the Fed Cup. It was the first Fed Cup meeting between the countries. Sofia Kenin and Sloane Stephens, meanwhile, gave the United States a 3-1 victory over Switzerland also on Sunday in a Fed Cup World Group playoff. Kenin, a late replacement for Madison Keys, beat Timea Bacsinszky, 6-3, 7-6 (4), to wrap up the match at Freeman Coliseum. The Americans advanced to the 2020 World Group draw, while Switzerland was relegated to World Group II. In the opening match on Sunday, Stephens beat Viktorija Golubic, 6-3, 6-2. On Saturday, Stephens beat Bacsinszky, 6-4, 6-3, and Golubic topped Keys, 6-2, 6-3. The US improved to 9-0 against Switzerland in Fed Cup play. AP

Loving God

EAR God, Your mercies are new each morning. Gladden us in trust as we pray: Oh God hear our prayer. Transform us in Your spirit, and help us to grow in love. Reconcile families that suffer misunderstandings, maltreatment, divisions or brokenness. Inspire couples in the married life to have You. Oh God the center of their lives. Break the chains of oppression and free all people to live their faith in freedom. May the spirit of God guard us all the days of our lives and may peace reign in all humankind. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life

CIRCLES: KENNETH MONTEGRANDE ON THE PERFECTION OF IMPERFECTIONS D4

BusinessMirror

Tuesday, April 23, 2019

THE two-bedroom units offer a spacious living area fit for families.

THE beautifully furnished lounge provides the perfect space for family and friends to spend quality time together.

Your houseplants are getting hungry; some feeding tips By lee reICH | The Associated Press

O matter what the weather outdoors, plants indoors are getting hungrier and thirstier this time of year. How are you going to give them the food they need to keep growth apace with burgeoning sunlight? If the plants are new to your home or you just repotted them, the potting soil itself might supply food—for a while, at least. Compost in potting mixes slowly releases a smorgasbord of nutrients, sparing you—if there’s enough compost—the need to even think about having to feed a plant for a year or more. Most potting mixes that you buy or that new plants come in, however, do not contain compost. Still, even a compost-less potting mix might provide extended sustenance if it contains some slowly available food source, either an organic one such as soybean meal or an especially formulated, slow-release chemical one. Those little glass-like beads you may have noticed on the soil beneath commercial plants? That’s probably a slow-release chemical fertilizer. ONE OPTION: SPRINKLE FERTILIZER ON THE SOIL FEEDING is eventually necessary, and the most straightforward way to do it is to just sprinkle plant food on the surface of the potting soil. If there’s room below the rim of the pot, a half-inch or so of compost will do the job and confer other benefits of a compost mulch: better water infiltration, smothering of small

weeds and some protection against pests. Your plants won’t get these other benefits with the previously mentioned soybean meal fertilizer, the slow-release chemical, or other concentrated fertilizers. Nutrients in the compost, soybean meal or slow-release chemical fertilizer percolate into the soil when you water from above. Some gardeners water their houseplants from below, filling the saucers beneath the pots so water is drawn up into the pots. In this case, fertilizer applied on the soil’s surface won’t get down to plant roots. Furthermore, if water is applied from below too frequently, salts build up in the soil, damaging roots. So it’s always a good idea to water from above at least occasionally. ANOTHER OPTION: FERTILIZE WITH YOUR WATERING ANOTHER way to fertilize houseplants is to feed them as you water them. You need a food that dissolves readily in water. Many gardeners use one of the popular brands of water-soluble, chemical fertilizer, but they all work well as long as you follow their specific application directions. If you’d rather “grow organically,” then use one of the commercially available seaweed or fish extracts, or make your own extract by steeping compost or manure in water until the water turns the color of tea. Once everything greens up in spring, you can even make a nourishing “tea” by steeping a nutrient-rich plant such as stinging nettles in water for a few days. As long as your tea or water-soluble fertilizer is not

Amaia’s new residential project to rise in Quezon City AMAIA Land Inc. (www.amaialand.com) will expand its reach in Quezon City by jump-starting its new project in the second quarter of 2019. This was disclosed by Raizel Matibag of Amaia Land who announced that a new mid-rise condominium is set to be launched in this premier city where progress is accelerating at an incredible pace due to the construction of the MRT Line 7 and with the proposed Metro Manila Subway in the works. To be located in the high-density locale of Quirino Highway and Tandang Sora Avenue, Amaia’s new condominium will rise on a 1.7 hectare prime land, beckoning to aspiring homeowners who are “eager to be a part of it all”—the frenzied city life, the drive to grow and prosper, and the urge to find work-life balance amid all these. This new development, after all, will be near shopping malls, universities, hospitals, government offices, and Quezon City’s entertainment and restaurant strip. The business district of Quezon

City is a short drive or commute away, too. Amaia’s new mid-rise will be a cozy home and, at the same time, a community that fosters fine social values among its residents. The development—and all the others in the pipeline—are envisioned to thrive in a sustainably greener environment, giving homeowners a healthier way of life that only low-density settings provide. The soon-to-rise building will have nine floors, each featuring one-bedroom, two-bedroom, and threebedroom units with floor areas ranging from 24 square meters to 46 sq m. Amenities will include a swimming pool, a basketball court, and a function room for business meetings and social events. Amaia Land lists the total number of available residential units at 208. A basic unit will have a preselling rate of P2 million. Amaia continues to offer its homeowners affordable and sustainable developments that aim to elevate the Filipino living experience in a well-served environment.

too concentrated, go ahead and use it to water your plants every time they are thirsty. Alternatively, feed periodically—once every two weeks, for example— with a more concentrated solution. YET MORE WAYS TO FERTILIZE HOUSEPLANTS WANDER along the fertilizer aisle of any store selling gardening products and you’ll see that there are fancier ways to feed your houseplants. You can buy marble-size balls or spikes of compressed fertilizer that begin to slowly bleed nutrients after you push them into the soil. Leaves can absorb nutrients to some degree, and foliar feeding provides yet another way to nourish your plants. However, foliar sprays are best reserved for emergency use on starving plants because they’re not very efficient and can damage leaves. In fact, any fertilizer can cause damage. (Compost cannot damage plants, but it has a low nutrient content so is technically an “amendment” rather than a “fertilizer.”) Just as you would not eat the same amount of calorie-rich ice cream as caloriepoor broccoli, you should not feed your plants the same amount of a rich food—such as a concentrated chemical fertilizer—as a leaner food, such as seaweed extract. And, furthering the comparison, ice cream— even in the correct dose—is not better for you than broccoli, just more concentrated in calories. Your plants are at your mercy, so follow feeding rates on fertilizer packaging with even more care than you follow “serving size” recommendations on that carton of ice cream. n

THE Kid Zone offers an exciting space for toddlers and young children to stretch their legs and explore the world.

Location and luxury come together in Wack Wack TUCKED inside the lush, upscale neighborhood of Wack Wack in Mandaluyong City is Shang Residences at Wack Wack. With a stunning façade, an enviable location and luxurious amenities, the condominium is every urban dweller’s dream. A developer of high-end residential condos such as Horizons Homes at Shangri-La at the Fort, One Shangri-La Place and St. Francis Shangri-La place in Ortigas, and Shang Salcedo Place in Makati, Shang Properties has given Shang Residences at Wack Wack a subdued, tasteful feel, highlighting its cozy resort vibe. Tropical resort elements and understated luxury prevail in the amenities, which are sophisticated and cozy. A relaxed feel pervades every facility, complementing residents’ busy lifestyles with an oasis of comfort. The fully equipped gym offers lovely golf course views, allowing people to unwind while exercising. The verdant poolside pavilion evokes the ease and style of a tropical resort, while the steam and sauna rooms offer much-needed relaxation after a long day. Perfect for gatherings and celebrations, Shang Residences at Wack Wack also has three expansive private function rooms, featuring panoramic windows and tasteful décor. Residents can host memorable events at these spacious rooms or kick back at the beautifully furnished lounge. Made with the lifestyles of its residents in mind, the condo offers something for everyone. Children can enjoy the indoor and outdoor play zones and the children’s swimming pool. Residents also have access to a mini theater and billiard room. Designed by BTR (HK), the interiors are effortlessly sophisticated. The design isn’t the fully fitted out, glamorous kind of luxe; rather it is the comfort of being at peace in one’s home. Shang Residences’ design centers on creating a space that makes people feel calm when they enter, where their souls can be refreshed and their hearts rejuvenated. Situated at the crossroads of Metro Manila, between Quezon City and Makati, Shang Residences at Wack Wack, which has a ShowSuite at Shangri-La Plaza, is just a stone’s throw away from several key areas around the Metro. World-class medical hospitals like Cardinal Santos Medical Center, The Medical City and Victor R. Potenciano Medical Center are a short drive away. Many prestigious schools are also nearby, including La Salle Greenhills, Xavier School, Lourdes School of Mandaluyong and Immaculate Conception Academy. The residences are also near the Metro’s best lifestyle destinations like Shangri-La Plaza, which houses some of the greatest international brands, and offer the best in dining and entertainment. With such thoughtful design, prime location and amenities suited for every lifestyle, Shang Residences at Wack Wack gives residents an urban living experience that lets them rest, recharge, and most important, feel at home.

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Tuesday, April 23, 2019

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Today’s Horoscope

An undiagnosed illness haunts D.J. Palmer novel By Jeff Ayers The Associated Press

TEENAGE girl seems to have an illness that doctors cannot diagnose in D.J. Palmer’s psychological thriller Saving Meghan (St. Martin’s Press). Fourteen-year-old Meghan continues to show symptoms of some mysterious disease that has her consistently dizzy, dehydrated and losing weight. Her mother, Becky, demonstrates signs of devotion to her daughter, but others wonder if she’s smothering Meghan. Her father, Carl, has taken an opposite approach in caring for his little girl by being hands off to the point where some question if he even cares about Meghan’s health. Meghan begins to question her sanity and her mortality while she watches her family start to implode. Is Meghan sick, or is something else going on? One doctor with potential ethics violations believes Meghan is suffering

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Dev Patel, 29; Jesse Lee Soffer, 35; Jaime King, 40; George Lopez, 58. HAPPY BIRTHDAY: A practical approach to money, health and legal matters will help you clear up any mistake you have made. A steady pace forward and a pattern put in place will discourage others from taking advantage of you and encourage you to save more, eat less and avoid any situations that could negatively affect your goals this year. Your lucky numbers are 3, 17, 24, 26, 33, 44, 48.

from a rare disease involving her mitochondria. Another doctor feels it’s all in her mind, and the constant health issues stem from an overbearing mother. Legal and law enforcement debate whether this is a classic Munchausen Syndrome by Proxy, a form of abuse where the person supposed to care for the individual makes up or causes the condition. Becky says no, but Carl starts to believe otherwise and begins to work to remove his wife from his daughter’s care. Becky has to prove her innocence to keep her family together and her daughter alive even though the evidence against her is overwhelming. Palmer knows how to ratchet up the suspense and paranoia in Saving Meghan while keeping the reader continually guessing to what is happening to Meghan. He also has the talent to create an emotional investment in the characters while also keeping the repulsion factor of what’s being discussed low. The finale might not be a happy ending in the traditional sense, but it’s unpredictable and unforgettable. n

a b

ARIES (March 21-April 19): Learn all you can. Ask questions, and take on tasks that will help you hone your skills and incorporate what you know into a challenge that you find exciting. HHHHH TAURUS (April 20-May 20): Don’t feel you have to jump on someone else’s bandwagon. Do your own thing, and invest in yourself. How you project, present and promote what you do will determine how far you’ll get. HHH

GEMINI (May 21-June 20): Check facts to avoid getting trapped in someone’s evasiveness. Stick to the people you know are fair and will contribute as much as you. Partnerships will take an upward turn as soon as you make your position and your expectations clear. HHH

CANCER (June 21-July 22): Take what others do and say seriously. If you are reluctant to speak up, you will enable others to take advantage of you. Form relationships that are solid and based on common interests, beliefs and goals. HHH

LEO (July 23-Aug. 22): Make improvements that will lead to better health, good relationships and interests that will stimulate you mentally, emotionally and physically. An active life will promote success, happiness and positive changes. Traveling, learning and making physical improvements are favored. HHHHH

VIRGO (Aug. 23-Sept. 22): Simplicity will keep you out of trouble. Refuse to get involved in arguments or emotional disputes that are based on assumptions. Stay levelheaded, and put your time and effort into establishing what you want and how to reach your goal. HH

BOOK FAIR PROVIDES A HOME FOR UNDERREPRESENTED VOICES IN PUBLISHING STARTED by Kwago and Warehouse Eight in 2017, Komura; is mounting an intimate, all-women gathering of independent publishers, specialty bookstores, game developers, writers, artists, illustrators, musicians, filmmakers, art shops and zine makers around the Philippines in a one-day book fair on May 18 (11 am to 11 pm) at Warehouse Eight, La Fuerza Compound, Makati City. Komura; has grown from a book fair gathering different kinds of indie creators and storytellers who don’t have a space to showcase their works, into a platform providing holistic support for the growth of the independent publishing communities in the Philippines. “I learned a lot from a year of running Kwago, met a lot of people who exposed me to various issues in the literary and publishing communities, and Kwago believes that cultivating a more diverse range of authors and viewpoints within the industry is not only a necessity to keep readers interested, but a moral responsibility for authors, readers, bookshops and publishers,” Kwago Founder Czyka Tumaliuan said. As a refuge for authors, artists

and small presses who are not given attention and opportunities to share their works in mainstream platforms, Komura; decided to help address the global issue of diversity and representation in publishing this year.

“While Komura; has always been a platform that seeks to democratize creation and the dissemination of independently published stories, we think that a mindful curation this year will help us provide more support for

the community. It’s not really about us, but the people we wish to support.” Co-owner of Warehouse Eight Kayla Dionisio confessed that she was hesitant to do it at first. “At first, I was apprehensive about the idea because we should be judging the merits of a work of fiction objectively, not because it’s done by a man or a woman. Komura; has always been a platform for anyone and everyone,” Dionisio shared. “But I saw that it’s a real problem which should be acknowledged and Komura; is a perfect place to hold conversations about it.” Komura; is still featuring the same pockets of storytelling (Market, Playground, Echoes, Pixel, Book Bar) this year, but is putting a spotlight on female creators and highlighting women in tech and film at Komura; Pixel. Moreover, Komura; is welcoming Kwago’s newest program A Curated Shelf where Kwago invited Raya School Cofounder and Adarna Vice President Ani Almario to exhibit 15 children’s books she would require her own kids to read. Regular tickets to the fair are priced at P200 and P120 for students. Kids 10 years old and below can come for free (bit.ly/KomuraBookFair2019).

LIBRA (Sept. 23-Oct. 22): Taking a trip or spending time with someone who can offer you insight into a different lifestyle will get you thinking about the possibility of making a change or move. Discuss your plans with someone you’d like to share your adventure with. HHHH

SCORPIO (Oct. 23-Nov. 21): Someone older or with more experience will offer information that will change the way you see the past and encourage you to take a positive step into the future. Let go of what isn’t working for you and embrace what is. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Take note of what others are doing. Don’t be fooled into thinking someone is looking out for you. An emotional matter will be manufactured for someone else’s benefit. HHH

CAPRICORN (Dec. 22-Jan. 19): A change of plans will turn out to be a blessing in disguise. Observation and moderation will save you from making a decision prematurely. Not everything is as it appears, and someone is likely to offer false information. HHH

AQUARIUS (Jan. 20-Feb. 18): Get involved in projects that make you feel good. What you accomplish and the people you connect with will lead to positive changes that will influence how you live and the way you handle your money. HHHH

PISCES (Feb. 19-March 20): Don’t let confusion set in because someone is playing with your emotions. Consider who you are dealing with, and keep your distance from those pressuring you to take part in something that could affect your reputation or your personal finances. HH BIRTHDAY BABY: You are curious, persistent and opportunistic. You are ambitious and outspoken.

‘battle of the bulge’ BY ED SESSA The Universal Crossword/Edited by David Steinberg

ACROSS 1 Healing sign 5 Practical 11 Lenovo ThinkPads, e.g. 14 Winnie ___ Pu 15 Dressed like many Dickens urchins 16 2011 film set in Brazil 17 Fortysomething’s woe, or this puzzle’s theme (see letters 7, 8 and 9) 20 Already taken 21 Anise-flavored liqueurs 22 Prefix with “second” 23 Make a knight 24 Threat to peace (6, 8, 10) 32 Spills the beans 33 Mystical mark 34 Gangster’s gun 35 Portable beds 36 “Morally superior” people 38 Safari destination 39 Beverage-confiscating org. 40 Corn bread 41 Personal picks, in slang 42 Handshake precursor,

perhaps (5, 8, 11) 46 Animal house? 47 Docs who get “ahs” 48 Trails 51 Union label? 56 One shunning pesticides (4, 8, 12) 58 Orchid wreath 59 Going nowhere 60 Bible character who lost a rib 61 Buffoon 62 Like elves’ ears 63 Colorful, chewy candies DOWN 1 Virtual city dwellers 2 Movie trailer segment 3 Designer Gucci 4 ___ and Broomsticks 5 Capital of Austria 6 Discombobulated 7 Jason’s ship 8 Boxer Max or Buddy 9 Some smartphones 10 Adopt, as a cause 11 Chief exec 12 Bologna “bye”

3 Rolls out the lawn 1 18 Flips (through) 19 Spice applications 23 Bears’s homes 24 Where to see 20/20 25 Nearby 26 Mongolian invader 27 “Peer Gynt” composer Edvard 28 Shag or sheepskin 29 “Uncle!” 30 Like many Quaker cereals 31 Big bomb trial, briefly 36 President between Tyler and Taylor 37 Genetic letters 38 “Slammin” golfer 40 Carrot relative 41 Smelling terrible 43 ___ Men (“Who Let the Dogs Out?” group) 44 Biter in a colony 45 Dam production 48 Marco of note 49 Length x width, perhaps 50 “Thank God it’s ___!”: Homer Simpson

1 The year 1151 5 52 Opposed to, to Huck 53 Control+Z command 54 Airplane assignment 55 Tank tops expose them 57 Bride’s vow

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, April 23, 2019

THIS image released by Warner Bros. Pictures shows Marisol Ramirez in a scene from The Curse of La Llorona. AP

BRAD PITT and Angelina Jolie

Judge says Angelina Jolie and Brad Pitt are now single LOS ANGELES—Angelina Jolie and Brad Pitt are officially single, though more work is left before the terms of their divorce are final. Los Angeles Superior Court documents show that Judge John W. Ouderkirk entered a judgment on Friday, saying the couple is no longer married. Her name was also restored to just Jolie, not Jolie Pitt. The couple’s lawyers had asked for a bifurcated judgment, meaning that two married people can be declared single before all issues in the divorce are agreed upon. It’s not clear what issues remain unresolved in the divorce, but Jolie has filed papers saying Pitt wasn’t paying sufficient child support, which his attorneys disputed. The 43-year-old Jolie and the 55-year-old Pitt have six children. They were married in 2014, and Jolie filed for divorce in 2016. AP

SM Cinema avenge the fallen this April for ‘Avengers: Endgame’ THE grave course of events set in motion by Thanos that wiped out half the universe and fractured the Avengers ranks compels the remaining Avengers to take one final stand in Marvel Studios’s grand conclusion to 22 films, Avengers: Endgame. This month, SM Cinema is standing with Earth’s mightiest heroes as the Philippines’s largest film exhibitor kicks off its Avengers: Endgame campaign. SM Cinema and The Walt Disney Co. Philippines launched at the SM Mall of Asia-Event Atrium the “Avengers: Endgame Experience” interactive touring exhibit. Marvel fans get a chance to stand with Earth’s mightiest heroes and avenge the fallen ones at the Avengers interactive exhibit to celebrate the movie’s arrival in the Philippines. The exhibit is touring various SM malls throughout the country. SM Cinema has put together an exciting lineup of activities for mallgoers and fans alike. Walk through the entrance of the New Avengers Facility, heed the call for new heroes, and stand with our remaining Avengers. Test your strength and endurance in the different Activity Zones: shoot arrows like Hawkeye and Black Widow at the Bullseye Station, measure your strength like Hulk and Thor at the Power Up Station, lead the team like Captain America at the Train Like Cap Station, and endure to the end like Iron Man at The Armory Station. Don’t forget to take a photo at the famous Avengers emblem found at the heart of the Avengers: Endgame Experience. Cap off your training at the New Avengers Facility and show your support for Earth’s mightiest heroes by taking home premium merchandise from Toy Kingdom and The SM Store. Finally, catch Marvel Studios’s Avengers: Endgame beginning April 24 at SM Cinema, SM Cinema IMAX, and Director’s Club Cinema branches nationwide. Those who buy their tickets via www.smcinema.com will not only skip the lines and get the best seats in the house, but also save as much as P20. Avengers: Endgame is produced by Kevin Feige and directed by Anthony and Joe Russo. Louis D’Esposito, Victoria Alonso, Michael Grillo, Trinh Tran, Jon Favreau and Stan Lee are the executive producers, and Christopher Markus and Stephen McFeely wrote the screenplay.

‘The Curse of La Llorona’ reigns over weekend box office

By Andrew Dalton The Associated Press

OS ANGELES—The Curse of La Llorona brought good fortune at the box office. The Warner Bros. horror film based on a Mexican legend about a woman who murdered her children and wanders the world looking for them brought in $26.5 million according to studio estimates on Sunday, putting it in the top spot on its opening weekend—the last before Avengers: Endgame arrives to dominate. The Curse of La Llorona ended the two-week reign of Shazam! in the top spot. The DC Comics superhero comedy was second with $17.3 million, continuing its strong run with a three-week domestic total of $121.3 million and giving Warner Bros. a 1-2 finish.

The inspirational Breakthrough, the first release from 20th Century Fox since Disney acquired the studio, was third with $11.1 million, a respectable opening for the modestly budgeted faith-based film. The reign of La Llorona will not last. Its top finish came on a quiet Easter weekend as studios cleared a path for the wildly anticipated Avengers: Endgame, the Disney and Marvel juggernaut that should disintegrate all competition for several weeks to come. Easter weekend saw very few new releases—and none with large budgets—giving smaller films like La Llorona a chance to sneak in a few dollars. “Putting this movie in this sweet spot right before the opening of Endgame really paid big dividends for Warner Bros.,” said Paul Dergarabedian, senior media analyst for comScore. “It was a brilliant stroke of scheduling to place a horror movie right there.” The film overcame grim reviews (32 percent fresh on Rotten Tomatoes) to win over audiences. Some scholars and critics also harshly criticized the film for a marketing campaign that involved using traditional Mexican healers for “spiritual cleansings” before screenings. It was one of three horror films in the top 10 over the weekend—Pet Sematary and Us were the other two—at the end of a winter-spring stretch that along with Halloween has become a heyday for the genre. Next week, even though it will still be April, summer essentially begins for Hollywood as Disney

looks for Endgame to have possibly the biggest opening of all time. “The summer season usually doesn’t start until the first weekend of May, but Marvel can bend the calendar to their will,” Dergarabedian said. “They can say, ‘We’re going the last Friday in April, here’s your summer.’” The receipts for Captain Marvel surged in its seventh week this weekend. It brought in $9.1 million to put it past $400 million in domestic box office, with audiences likely wanting to take in a small piece of the Marvel cinematic story before Endgame. The comedy Little was fifth in its second week for Universal. Dumbo finally crossed the $100 million threshold as it faded to sixth in its fourth week of a disappointing performance for a live-action Disney release. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore. 1. The Curse of La Llorona, $26.5 million ($30 million international) 2. Shazam!, $17.3 million. ($22 million international) 3. Breakthrough, $11.1 million 4. Captain Marvel, $9.1 million ($6.5 million international) 5. Little, $8.5 million 6. Dumbo, $6.8 million. ($13.7 million international) 7. Pet Sematary, $4.9 million ($5.5 million international) 8. Missing Link, $4.4 million 9. Us, $4.3 million 10. Hellboy, $3.9 million. n

A love triangle like no other TV audiences are in for a delightful time with GMA’s new heart-warming prime-time romantic comedy, Love You Two, which premiered worldwide last night. Headlining this light-hearted and feel-good drama series is the much-awaited tandem of Jennylyn Mercado and Gabby Concepcion. Jennylyn breathes life to Raffy, a woman who has a thriving career and is happily in a relationship. Gabby is Jake, a charming businessman and Kalayaan Hotel owner who remains to be a dashing debonair even in his 40s. Joining them in Love You Two are multitalented stars Solenn Heussaff as Lianne, Jake’s free-spirited ex-fiancée who remained friends with him even after their breakup; Shaira Diaz, Sheena Halili, Jerald Napoles, Kiray Celis, Nar Cabico, Yasser Marta and Michelle Dee. Introducing in Love You Two is newest GMA heartthrob Clint Bondad as Theo, Raffy’s exboyfriend who will seize a career opportunity abroad and leave her behind. Also featured in this prime-time soap are Freddie Webb as Jake Reyes Sr., Jake’s dad who is a former banker; Madeleine Nicolas as Teresita, the mother of Jake; and Joshua Zamora as Baste, the general manager of Kalayaan Hotel. For their first pairing, Jennylyn and Gabby showcase their strength as icons of the rom-com genre. Shaira, for her part, brings to the screen a refreshing character that adds an interesting twist to the story. After all, how can Raffy and Sam, two sisters who are very close to another, deal with the fact that they’ve fallen for the same man, their “the one”? If they’re all saying “I love you, two” in their own meanings, who gets the happy ending? The show’s creative team is composed of awardwinning director Irene Villamor, who is helms what is touted as the first tele-pelikula photographed for a

film-like experience by cinematographer. Shepherding the series is the GMA Drama Group led by Senior Vice President for Entertainment Group

Lilybeth G. Rasonable and Vice President for Drama Redgie A. Magno. Love You Two airs weeknights on GMA after Sahaya.

Art

BusinessMirror

Tuesday, April 23, 2019

TRANSFIGURINGS of Freshest Blue, Kenneth Montegrande, 2019, acrylic on canvas, 48”x60”

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MIDNIGHT Blue, Kenneth Montegrande, 2019, acrylic on canvas, 36”x48”

Kenneth Montegrande on the perfection of imperfections Fast-rising, self-taught visual artist Kenneth Montegrande believes that nothing is without beauty and meaning. It’s a perspective that serves as the message of his upcoming 6th solo show. CIRCLES JT NISAY

jtnisay@gmail.com

ENNETH MONTEGRANDE sits outside a row of restaurants at a Makati mall on a recent, humid evening. Loose in a plain white shirt and paint-tainted jeans, his casual ensemble saved me from guessing who among the crowd of diners was the visual artist I was meeting for an interview. “Pasensya na sa suot ko, pare. Galing kasi akong shoot,” Montegrande bowed, smiling, as we shook hands. His face, as was his name, was familiar. We instantly sorted out that we had met years ago on a promotional mall event for a superhero movie he handled during his days as a public relations practioner and events organizer. He struck me then as a man of strong character who knows his way dealing with people, and his firm handshake during our recent meeting reaffirmed me of that. It was, however, one of the few things that have not changed since we first met. These days, the 40-yearold Montegrande no longer spends his hours handling accounts to carry out their PR strategies. He now mostly handles brushes, palate knives, towels or even forks—whatever is in reach in his studio—to carry out the images of his innate artistic genius as an emerging figure in the art scene here and abroad. The self-taught artist is becoming known for his works of abstract expressionism, characterized by continuous strokes to go with the dripping and the splattering of striking color combinations. He said he draws inspiration from the genre’s biggest names, such as Jackson Pollock and his techniques, JMW Turner and his mastery of light, as well as William de Kooning and his combination of disciplines. “As for the philosophy of my art, I believe that nature and human emotions are the same,” Montegrande said. “Both can be so beautiful, but both are unpredictable. Also, both can be taken away in an instant.” To hear Montegrande talk about his life as an artist is mesmerizing in multiple layers. He speaks with the experience of a veteran who has long found his niche, even though he only discovered his passion to paint seven years ago. Moreover, in just that short span, he has already cleared achievements most artists could only dream of. Montegrande’s foray into the arts started in 2012 while working as the events and media strategist of the Intramuros Administration, an attached agency of the Department of Tourism, concurrent with his role as the spokesperson for the National Parks Development Committee, also under DOT. He was asked to lend a hand in the Intramuros Arts Festival of the Intramuros Visual Artists Philippines, composed of senior artists such as Pancho Piano, Egay

Fernandez, Nemi Miranda and Al Perez. Montegrande took on the project without knowledge about art. The deepest he’d gone into it was in high school, when he joined poster-making contests. But during that festival, when his eyes laid on abstract works, Montegrande fell quick and fell hard. “Even without knowing much, nung una akong hinila ng art, sabi ko hindi ako pwedeng hindi mag-paint,” he recalled. “And so I paint, paint and paint.” Montegrande started buying small acrylics and canvases. He didn’t do it for anything else, he said, other than to answer the call of his newfound passion. He found and made time to paint, and even joined art groups. There were sessions when he hid his works from his peers, thinking they weren’t as good as their outputs. Relentless in his pursuit, Montegrande marched on and took “one-on-one sessions” with his materials. To have a good painting, he said, you need to be in good terms with your paint, with your brush, with your canvas. He burned hours and hours honing his craft with unwavering dedication and a distinct style that he credits to his past experiences. Montegrande grew up peddling nuts, fish and vegetable as a kid growing up in Ermita, and spent time as a janitor. He worked for a scholarship at the City College of Manila (now Universidad de Manila) and with a Mass Communications degree, worked as journalist and a radio show anchor before shifting to the public relations and events industry. Eventually, Montegrande started to find his touch in the arts, with friends from his previous industries as his first patrons. Exactly a year after picking up the brush for the first time, he was offered by a friend to mount his first solo exhibit at his restaurant in Ermita. Part of the exhibit’s proceeds was donated for the victims of Supertyphoon Yolanda in a generous act that would be a staple for all his shows. Everything was coming up roses for his artistic career from that point on. What set it over the top was a direct message on Instagram in February last year, when a user contacted him through his account, theartofkennethmontegrande, saying that his works caught the eye of Japanese billionaire and distinguished art collector Yusaku Maezawa. He took the interaction with a grain of salt, wondering why someone like Maezawa—the founder of Japan’s largest online fashion mall who set a

KENNETH MONTEGRANDE’S Remarkable Imperfections will run at Altro Mondo from April 27 to May 20.

purchase record for an untitled Jean-Michel Basquiat in 2017 for $110.5 million—would want something to do with him. Still, the months progressed along with the discussions. By May of that year, Maezawa had bought six pieces from Montegrande, who became the first Southeast Asian artist to be included in the famed collection of the art connoisseur. Montegrande was even flown in to Maezawa’s office in Tokyo. His billionaire collector happened to be in New York during his visit, but Montegrande took home some of Maezawa’s words. The artist found in the office a magazine feature on the 43-year-old Maezawa, where he said the following: “I feel some responsibility now,” Maezawa said in the article, as read by Montegrande from the photo he took on his cellphone. “I was just being selfish before. I used to buy art simply for my own pleasure, but now I have an art foundation, and I know that each purchase I make has an impact.” “Basically,” the quote goes, “I want more people to like art. I want more people to make art.” The message of making an impact through art resonated deeply with Montegrande. Inspired by the statement, the artist’s works now carry deeper meaning, as his technique has evolved with more strokes and colors.

His acquired perspective on imperfections, how trials shape a man, how challenges set up one for success, is a lesson Montegrande wants to impart on his upcoming sixth solo exhibit, titled Remarkable Imperfections. The show will be mounted at Altro Mondo, and will run from April 27 until May 20. To be featured are 20 artworks that will showcase the impressionist side of the rising abstract expressionist, with pieces on dramatic cloudscapes, seascapes or the combination of the two. One of these is Trans�igurings of Freshest Blue, where Montegrande’s growing mastery of light shines on the poetic edges of rocks by the bay, while sunlight fills in the crevices of cloud formations in a scene that represents either the early morning or late afternoon. The time setting plays with the perception of the viewer, but, as with the message his exhibit tries to deliver, it’s all captivating just the same. “My art is rooted in my experiences, good and bad, because everything that happens, happens for a purpose,” Montegrande said. “‘The beauty of imperfections,’ that’s what I want people to recognize.” Following this show, Montegrande will turn to his seventh solo show in June under Artes Orientes Gallery, and Galerie Joaquin thereafter. Also scheduled is his Manila Art debut, also under Artes Orientes, in October. Aside from exhibits, Montegrande’s works will be featured on an art notebook to be launched this month by the De La Salle University Publishing House in celebration of Dia del Libro 2019, along with Manila-based painter Betsy Westendorp. In July, DLSUPH is also scheduled to release The Art of Kenneth John Montegrande, a book that will be the inaugural volume in its Contemporary Filipino Artists book series. Looking back at the past couple of years that brought him unimaginable success, Montegrande rearranged his seating position that night before letting me in on how he deals with everything that is happening in his life. “Alam mo ginagawa ko lagi? Pray lang ako,” Montegrande said. “Lagi lang ganito prayer ko kay Lord: ‘To continue blessing me with the talent, and to use me and my artwork to bless other people. Lord, I know you still have plans for me. Hindi ko alam ’to, but I am excited, really excited for those plans.’” n

‘CITY OF BAWAL’ GROUP EXHIBITION AT 1335MABINI HOW to grasp the everyday minutiae of the city, our city—the city of of “bawal”? No jaywalking. No trespassing. No littering. No loitering. No loading and unloading. No parking. No U-turn. No texting and driving. No drinking and driving. No entry. No guns allowed. No smoking. No illegal vendors. Not for hire. Post no bill. Do not blow horn. And so on and so forth. Someone discarded a slipper on the street. Did he or she return home on

one bare foot? What will happen to the discarded slipper? A pothole is so wide and deep, can it swallow an automobile or dead bodies whole? An ambulance is stuck in traffic, who prays for the passengerpatient to reach the hospital in time? Who writes of revolt and revolution on the city’s walls? Who reads these messages? How to respond? A group of 13 artists—Brisa Amir, Datu Arellano, Kristoffer Ardena, Jan Balquin,

Lesley-Anne Cao, Miggy Inumerable, Czar Kristoff, Celine Lee, Cris Mora, Indy Paredes, Mark Salvatus, Jel Suarez and Jose Tong—is on purpose large and diverse, as navigating our city requires multiple angles, including contradictions. Each of the artists—young and upcoming to emerging artists—has her or his own poetic sensibility to show different urban questions concerning the everyday minutiae of the city, our city—

City of Bawal, as the upcoming exhibit has been billed. Opening on April 27, 6 pm, at 1335MABINI Gallery (www.facebook. com/1335mabini) in Karrivin Plaza, Makati City, the title of the exhibition is a reference to the short story Library of Babel by Argentinian writer Jorge Luis Borges, in which the narrator attempts to find meaning in what appears to be vast randomness.