BusinessMirror August 12, 2019

SEC EYES CUT IN REIT FREE FLOAT LEVEL

By VG Cabuag @villygc

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ASEAN FRIEND The Indonesian Navy Training Ship Kri Bima Suci (945) has docked at Pier 15 in Manila for a four-day goodwill visit until August 15. This is the second time that it visited the country. Officials from Asean neighbors the Philippines and Indonesia said the goodwill visit further strengthens the already robust relationship between the two navies. ROY DOMINGO

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HE Securities and Exchange Commission (SEC) is amenable to reducing the free float level of those applying for the Real Estate Investment Trust (REIT) to 33 percent, but is bent on increasing the minimum public float of listed firms straightt to 25 percent.

SEC Commissioner Ephyro Luis B. Amatong said there’s no liquidity issue in the country today that prevents a listed company from raising cash from the system in order for it to increase its public float to 25 percent from the current rule of 10 percent. Some initial public offerings even have their public ownership straight to 40 percent of the company.

“We felt that they can do it but we’ll give

them a longer period to comply. Some of these companies are very big but they’ve indicated that if we require them [to increase public float], they’d be able to do it,” Amatong said.

While SEC commissioners have yet to discuss how this can be done, Amatong said he is inclined to allow listed firms to comply with the new minimum public float rule in five years, instead of increasing the rate incrementally in three years until the minimum requirement reaches 25 percent.

The 25-percent rate is already the standard among the 10-member Association of Southeast Asian Nations.

As for the REIT, the SEC is keen on cutting the minimum float to 33 percent, from the current rule of 40 percent upon listing; and bringing it up to two-thirds, or 67 percent, in three years. The current rule

reportedly discouraged the industry from making initial public REIT offerings.

Amatong said the government is amenable to changes if the proceeds of the REIT will be reinvested in the Philippines, either in the property sector or infrastructure projects, within one year.

Amatong said the SEC is in talks with the Bureau of Internal Revenue (BIR) and the Department of Finance (DOF) for the new draft of the REIT measure, which may be released by the end of the month for public comment.

“We are confident that a REIT listing is still possible within the year,” he said.

While the two measures are important, Amatong said the SEC will first expedite the new framework on the REIT, as the industry has been waiting for it for years.

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Tuesday, August 13, 2019 Vol. 14 No. 307

Finance Assistant Secretary Antonio Joselito G. Lambino II said funds that will be gained from the DOF proposed Package 2 Plus B will help the government implement the Universal Health Care Act, or Republic Act (RA) 11223.

“The other thing is the ‘alcopops,’ it is included in Package

2 Plus B. So it is alcohol, which i nc ludes fer mented d ist i l led alcohol and w ine and e-cigarettes and e-juice [for vaping],” Lambino said.

Revenue from fermented liquor, or beer, is estimated to reach P24.7 billion under the proposal which the DOF crafted

with the Department of Health; alcopops, P400 million; distilled spirits, P9.2 billion; wines, P40 million; and e-cigarettes, P3.2 billion.

The other half of Package 2 Plus—Package 2 Plus A—under the Comprehensive Tax Reform Program of the DOF was signed into

By Elijah Felice E. Rosales @alyasjah

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HE Department of Trade and Industry (DTI) has tempered its growth forecast for exports this year to 2 percent on slower demand from traditional markets resulting from the trade conflict between the world’s largest economies.

As such, the DTI expects exports to hit a little over $72 billion by the end of the year, from $69.3 billion last year. Trade Secretary Ramon M. Lopez said the adjustment is necessary to reflect the global condition of reduced purchases from traditional markets, particularly from the United States and China, which are engaged in an on-andoff tariff war.

At the start of the year, the DTI set a growth target of 4 percent to 5 percent that should bring exports to over $76.5 billion by

The estimated revenue gain for 2020 from Package 2 Plus A, the other half of Package 2 Plus B, under the CTRP, which was signed into law last month as RA 11346. It provides for a unitary P45 excise tax increase per pack of tobacco products in 2020; followed by a series of P5 hikes until the rate reaches P60 in 2023, and a 5-percent annual increase thereafter

law last month under RA 11346.

It provides for a unitary P45 excise tax increase per pack of tobacco products in 2020; followed by a series of P5 hikes until the rate reaches P60 in 2023, and a 5-percent annual increase thereafter.

See “Sin taxes,” A2

Dry spell, typhoons cut PHL banana production by 2.83% in H1–report

By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s banana output shrank by an annualized rate of 2.83 percent to 4.375 million metric tons (MMT), as growers harvested smaller and poor-quality fruits due to the dry spell, the Philippine Statistics Authority (PSA) said.

The latest figure was 127,000 metric tons lower than the 4.502 MMT recorded in the January-toJune period of 2018, data from the PSA showed.

The PSA said the lingering effects of typhoons Ompong and Rosita, which struck the country late last year, caused harvest in Cagayan Valley to go down.

In Davao region, the country’s major banana producer, lower output was caused by the moko disease.

Insufficient rainfall also resulted in smaller banana bunches during the fruiting stage from March to May, the PSA said.

“Further, smaller sizes and lower quality of fruits were developed in Soccsksargen because of the dry spell during the first quarter of 2019,” it added.

Due to higher demand and stiff competition among local buyers, the PSA said the average farm-gate

PESO exchange rates n

price of bananas rose 13.15 percent to P19.18 per kilogram from P16.95 per kg last year.

Because of the higher buying price, the value of the six-month banana output, in current prices, reached P83.927 billion, nearly 10 percent over last year’s P76.314 billion.

The PSA also reported that the country’s mango output recovered in the first half and posted a 5.37-percent increment on the back of favorable planting conditions.

During the six-month period, total mango production reached 651,790 MT compared to the 626,190 MT recorded in the same period last year, PSA data showed.

“More voluntary flowering and fruiting were observed as induced by hot weather condition in Ilocos region. There [was] also lesser occurrence of cecid fly and leafhopper pests in the region,” it said.

“Lesser occurrence of cecid fly pests and anthracnose disease was likewise reported in Calabarzon. In Socsksargen, more trees bore fruits as a result of sunny weather condition,” it added.

However, the PSA said higher output and the perception of a supply glut pulled down the average farm-gate price of mangoes in the first half.

See “Banana,” A2

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GOVT CUTS FORECAST FOR EXPORTS GROWTH, CITING FALLOUT FROM TRADE ROW

By Jovee Marie N. dela Cruz @joveemarie & Rea Cu @ReaCuBM

HE Department of Finance (DOF) said its proposal to raise the excise taxes on alcohol and electronic cigarettes (e-cigarettes) will yield P36.5 billion for the government’s universal health care (UHC) program next year.

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Govt to collect ₧36.5B from other ‘sin’ taxes ₧15.5B T

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See “Reit,” A2

yeare-nd if accomplished. “[A] 2-percent [growth] is reasonable. While our recent months’ export growth was aided by resilient demand from major markets, like China, Hong Kong, the US and the EU, the global slowdown may eventually temper overall pace of demand,” Lopez said in a text message.

“Thus, [we see] the need to continuously build [on] new markets, like Russia, India [and] Middle East,” he added.

Data from the Philippine Statistics Authority (PSA) showed shipments grew flat to $69.3 billion last year, from $68.71 billion in 2017.

While the government attributed the decline to the collapse of the multilateral trading system, exporters blamed it on uncertainties brought about by proposed changes in the tax system, especially the plan to rationalize fiscal incentives.

See “Exports,” A2

Multiskilled construction labor eyed

By Samuel P. Medenilla @sam_medenilla

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Workers at Araneta Avenue in Quezon City continue to build the Skyway project Stage 3 in this August 11, 2019, photo. The Department of Labor and Employment said it was encouraging training for “multiskilled” workers as a way of easing the labor shortage in the construction sector. ROY DOMINGO

Provincial bus ban pro-poor–MMDA’s Lim

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ONTRARY to the claims of some critics and commuters, the planned provincial bus ban is “not anti-poor” and the presumption that it is a “failure” is “premature,” Metropolitan Manila Development Authority (MMDA) Chairman Danilo Lim said on Monday.

“We [MMDA officials] know very well that those riding in buses [majority] are considered masses, and

we want to make their travel faster going to their destination. How can that be anti-poor?” Lim pointed out in an interview with the BusinessMirror amid the flak drawn by the agency from commuters after its dry run last week. Very few transport operators joined the dry run, which was voluntary because of a temporary restraining order from the court.

Lim stressed that the provincial

bus ban was never really implemented since there is a court order halting the implementation of the policy.

“We have not fully implemented it and we have not seen the result yet,” Lim said.

Lim reiterated that the agency is giving priority to the “masses” and lamented that the public is just getting the wrong impression.

See “Bus ban,” A2

HE government is planning to create a pool of “multiskilled” workers to address the labor shortage in the construction industry, according to an official of the Department of Labor and Employment (DOLE).

In an interview, DOLE’s Bureau of Local Employment (BLE) Director Dominique R. Tutay told the BusinessMirror that this will be the agency’s additional option, aside from increasing the number of new construction workers.

Under the DOLE’s plan, existing construction workers will be encouraged to learn more skills related to their industry so they could maximize their employment in a construction project. For instance, Tutay said a welder could train to become a carpenter or even a mason.

“Usually, the contract of construction workers end once their role in the project ends. If they have multiple roles, they will be employed in the project longer,” she said. She also said construction workers are likely to be easier to train in other construction related skills because of their workplace experience.

“They are already able to witness the said skills based on the works of their colleagues in the same [construction] project,” Tutay said.

She earlier said the Technical Education and Skills Development Authority (Tesda) is having a difficult time attracting new trainees for construction skills training due to the impression that construction jobs are labor-intensive, but See “Construction,” A2

US 52.2300 n japan 0.4925 n UK 63.3759 n HK 6.6612 n CHINA 7.4133 n singapore 37.8013 n australia 35.5164 n EU 58.4036 n SAUDI arabia 13.9250

Source: BSP (9 August 2019 )

News

BusinessMirror

A2 Tuesday, August 13, 2019

China may fund first phase of ₧80-B Mindanao railway

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By Cai U. Ordinario

@caiordinario

HE Chinese government may finance the first phase of the Mindanao Railway project, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Ernesto M. Pernia said the project is set for Neda Board approval at its next meeting. This newspaper reported last month that the project has been approved by the Investment Coordination Committee (ICC).

The ICC approved a cost increase for the Mindanao Railway Project Phase 1 ºTagum-Davao-Digos Seg-

‘Sin’ taxes. . .

Continued from A1

The bill also introduces taxation on e-cigarettes, such as vapor and heated tobacco products, which are now becoming increasingly popular among the youth, with the approved measure imposing a P10 tax for every 10 milliliters of vaping liquid.

Lambino said the estimated revenue gain from Package 2 Plus A is P15.5 billion for 2020.

Earlier, Finance Secretary Carlos G. Dominguez III stressed the importance of passing the remaining CTRP packages immediately, especially the ones that aim to beef up funding for the UHC program.

Hearing on CTRP

The chairman of the House Committee on Ways and Means will start on Tuesday the deliberations for the remaining packages of the CTRP of the Duterte administration.

Albay Rep. Joey Salceda, the panel chairman, said the Executive Department

Exports. . .

ment of 125.25 percent to over P80 billion from the initially approved P35.91 billion.

“It’s scheduled [to be financed by] China, the first segment, as of now,” Pernia recently told reporters. “[There was an] increase in the cost because it will go through some mountainous areas.”

Pernia said the project is already up for discussion in the next meet-

and Congress agreed to prioritize first the passage of revenue-generating measures before approving the proposed 2020 General Appropriations Act. Salceda said his committee will start hearing the measure increasing and restructuring the excise tax rates on alcohol and vape products. Alcohol and vape taxes are part of Package 2 Plus of the CTRP. He said his committee is eyeing to approve the bill on Tuesday as he will invoke House Rule 48.

Under Rule 48, “In case of bills or resolutions that are identified as priority measures of the House, which were previously filed in the immediately preceding Congress and have already been approved on third reading, the same may be disposed of as matters already reported upon the approval of majority of the Members of the committee present, there being a quorum.”

House Bill 1026, filed by Salceda, seeks to increase the tax on alcohol products to approximate the 40 percent to 60 percent sharing of alcohol and tobacco expenditure.

On the other hand, Seipi President Danilo C. Lachica traced the lower-than-expected growth of exports to the government’s plan

to rationalize incentives granted to economic zone firms.

In the semiconductor industry, for one, Lachica said firms opted not to expand operations and to hold on to their capital in anticipation of an overhaul in the menu of tax perks. He argued the trade conflict has little to no impact on shipments of electronic products, as demand for these items are always high no matter the global condition.

Last year, shipments of electronic products to China grew 6.17 percent to $4.99 billion, from $4.7 billion in 2017; while those to the US grew 16.93 percent to $5.13 billion, from $4.39 billion, in spite of the tariff war between the two economies.

According to Lachica, the Philippines lost over $1 billion in investments to the semiconductor industry due to the government’s move to rationalize incentives. He argued these investments could have opened up new operations and created additional jobs,

Banana. . .

Reit. . .

Continued from A1

In February, Lopez said the electronics supply chain in the region was “adversely affected”by the trade conflict, as the economies at war—the US and China—supposedly minimized their orders from their supplier countries, one of which is the Philippines.

Exports of electronic products, the country’s top export item, increased 4.9 percent to $38.32 billion last year, from $36.53 billion in 2017, according to official data. However, the figure was lower than the 6-percent growth projected by the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi).

Tax perks plan blamed

Continued from A1

PSA data showed that mango was bought at an average price of P31.51 per kg, 17.03 percent lower than the P37.98 per kg average quotation last year.

Due to lower buying prices, the value of mango output in the first half declined 13.64 percent to P20.538 billion, from P23.782 billion recorded last year.

The production of pineapples, another dollar earner for the Philippines, inched up to 1.323 MMT in the first half from last year’s 1.319 MMT, according to the PSA. “Bigger fruits were harvested in Bicol region due to the adequate fertilizer application during the crop growth stage.

Increased area harvested was also reported in Soccsksargen,” it added.

The total value of pineapple output rose by 9 percent to P14.503 billion, from last year’s P13.305 billion due to higher demand from traders, tourists and institutional buyers.

Continued from A1

After this, the SEC can tackle the minimum public ownership of listed firms.

The REIT law was enacted in 2009, under the Arroyo administration, with the main aim of broadening the participation of the public in the ownership of real estate in the Philippines and using the capital market as an instrument to help finance and develop infrastructure projects.

The implementing rules and regulations of the said law, however, were crafted by the Aquino

Construction. . .

Continued from A1

lack benefits.

Last week, Tesda vowed to ramp-up the number of its trainees for construction-related skills by forging a partnership with the Department of Trade and Industry (DTI).

2,000 kms

The length of the Mindanao Railway System, which will have two segments that will connect various provinces in Mindanao ing of the Neda Board, the highest policy-making body of the Neda and chaired by the President.

He said, however, that discussions on the Mindanao Railway may not be included in the President’s upcoming state visit to China.

Online reports indicated that the President’s visit to China is his fifth since he assumed office in 2016. Reports said the President is expected to discuss the South China Sea issue, among others, with Chinese President Xi Jinping.

Aside from hiking excise taxes, the bill will also mandate the increase in indexation rate to 10 percent to account for inflation and income.

Citira next

According to Salceda, the House will also prioritize deliberations on the proposed Corporate Income Tax and Incentive Rationalization Act (Citira). The panel is expected to discuss Citira by Wednesday.

Salceda said Dominguez has proposed that the income tax holiday be granted for a period not exceeding four years, from the original proposal of three years.

At present, investors registered with the Philippine Economic Zone Authority (Peza) enjoy tax breaks for four to six years, depending on the industries of locators.

Salceda said Dominguez had also recommended that the period for enjoying additional incentives, such as reduced corporate income tax, be extended to three years, from the original proposal of two years in the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill.

which would result in better performance and higher exports from the industry.

Under the Tax Reform for Attracting Better and High Quality Opportunities (Trabaho) bill in the 17th Congress, corporate income tax will be reduced to 20 percent by 2029, from 30 percent at present, while incentives granted to economic zone locators will be rationalized, including the 5-percent tax on gross income paid in lieu of all local and national taxes.

In expanding exports to nontraditional markets, the DTI is flying exporters to trade shows and expositions to create linkages with foreign buyers. For one, the Philippines is set to participate in Expo 2020 Dubai that will run for six months and is expected to attract 25 million visits, of which 70 percent projected to come from outside host United Arab Emirates.

As of June, exports slipped nearly 1 percent to $34.11 billion, from $34.39 billion during the same period last year. economic team. The IRR included measures on public float and taxing the transfer of assets, which soured the deal for many of the players.

The said law was designed to recycle real-estate assets by placing it in another REIT company which the public may invest in by purchasing shares. The shares of the company may also be traded at the Philippine Stock Exchange.

“It’s already August and we need to release first the REIT [framework]. I don’t have a clearer date [for the 25-percent minimum public float rule]. But the sooner that we bring it up, the better. The longer-term view is that the economy is doing better...and it should be a good time,” Amatong said.

In a related development, Tutay said the DOLE is organizing a summit with the DTI and Tesda to determine the specific labor demands of the construction industry.

“We want is to identify what specifics skills are really needed? How many and where?” Tutay said. “Of course, our initiative will complement the [construction] road map [of DTI].”

Documents obtained by BusinessMirror earlier showed the increase in cost was due to the addition of a Davao satellite depot. There were several options presented and the ICC Cabcom chose Option 3 without land development.

Option 3 without land development costs P80.887 billion to undertake. It also provides for a single track project, no second track provision and no provision for electrification.

The amount, however, did not cover the new depot, which when added to the cost of Option 3 could bring the project up to around P82 billion.

The Mindanao Railway System is a 2,000-kilometer railway. The railway will have two segments that will connect various provinces in Mindanao.

Citira seeks to encourage investments by bringing down the corporate income tax rate from 30 percent to 20 percent, and modernize investment tax incentives to enhance fairness, improve competitiveness, plug tax leakages and attain fiscal sustainability.

According to Salceda, the bill projected that 1.4 million new jobs will be generated from domestic enterprises.

In a joint letter to Senate President Vicente Sotto III and Speaker Alan Peter Cayetano, the economic managers said rather than give more incentives, they want Congress to help the government enhance the revenue source to fund priorities, such as the “Build, Build, Build” program.

The economic managers said tax exemption deprives the government of revenues without guaranteed benefits, saying they are ineffective in attracting investments to lagging areas.

“Should tax incentives prove to be necessary, we support the grant of incentives that are performance-based, targeted, timebound and transparent,” they added.

Bus ban. . .

Continued from A1

Lim said that they are determined to implement the policy once the court order is lifted, as he shrugged off the bashing they got in social media.

Prior to the court order, provincial bus operators had pledged 100-percent participation in the dry run of the provincial bus ban supposedly set for August 7.

The Quezon City Regional Trial Court Branch 223 issued a writ of preliminary injunction halting the implementation of the Land Transportation Franchising and Regulatory Board (LTFRB) Memorandum Circular 2019-001 and MMDA Regulation 19-002.

Under the dry run, provincial buses will be banned from traversing Edsa from 4 a.m. to 10 p.m. No penalties will be imposed against violators of the ban.

Also, no actual closure of the existing provincial bus terminals along Edsa will happen.

Provincial buses coming from the north may use the Valenzuela Gateway Complex Terminal to load and unload their passengers. Provincial buses coming from the south may use the Santa Rosa Integrated Terminal in Laguna while those with terminals in Pasay City may use the Parañaque Integrated Terminal Exchange.

The MMDA shall implement “window hours” from 10 p.m. to 4 a.m. for affected provincial buses. During the window hour period, provincial buses are allowed to traverse Edsa to get to common terminals such as Araneta Center Bus Port in Cubao, Quezon City, and BFCT East Terminal in Marikina City and PITX. Also, the number coding for city operating buses shall also be lifted.

An additional 20 percent of cityoperating buses’ fleet will be allowed to operate to ensure there are enough city buses to pick up passengers at the interim terminals. Claudeth Mocon-Ciriaco

www.businessmirror.com.ph

Fate of 7 Pinoy sailors uncertain as Brunei continues search ops

By Recto Mercene @rectomercene

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HE fate of seven Filipinos aboard a Brunei-flagged fishing vessel, Radims 2, that capsized off the coast of Brunei remains uncertain.

The Department of Foreign Affairs (Dfa) said it continues to monitor the developments.

Eleven members of the crew, seven of them Filipinos, were on board, according to a report from the Philippine Embassy in Brunei Darussalam, the official name of the tiny country located on the north coast of the island of Borneo.

The DFA said two of the crew members, whose nationalities have not been specified, have already been rescued.

“The Department of Foreign Affairs is actively monitoring developments on a report it received that a Bruneiflagged fishing vessel, Radims 2, capsized off the coast of Brunei,” the DFA said in a statement.

The report quoted Ambassador to Brunei Christopher Montero as saying they are closely coordinating with Brunei authorities for updates on Brunei’s joint search and rescue operations with Malaysia.

Per the Embassy’s Philippine Overseas Labor Office, the last communication between the vessel owner and its captain was on August 7, 2019.

Since then, Brunei’s National Search and Rescue Coordination Committee has sought assistance from the Malaysian Maritime Enforcement Agency in locating missing crew members.

No Pinoy casualty in Libya Meanwhile, the country’s Charge d’Affaires in Libya, Elmer Cato, reported that “no Filipinos have so far been

Arrival . . .

Continued from A8

some 15.8 percent to 946,025 in the first six months of 2019. This was followed by China; the United States at 569,204 (+2.04 percent); Japan at 326,907 (+3.43 percent); Taiwan; and Australia at 143,014 (+1.96 percent).

The other top markets include Canada at 128,370 (+6.01 percent); the United Kingdom at 106,673 (+4.13 percent); Singapore; Malaysia at 74,307 (+0.87 percent); India at 68,888 (+9.19 percent); and Germany at 55,322 (+15.93 percent).

Also helping bolster the tourism growth this year, said Romulo Puyat, is the expansion of the country’s “portfolio of tourism products” and the strategy of “developing and promoting our lesser-known but emerging destinations.”

This has led to the arrival of “a large, yet diverse set of foreign travelers,” thus, sustaining the country’s consistent rise in inbound tourists amid the highly competitive Southeast Asian region.

Meanwhile, the DOT welcomed the recent decision of the US Department of Homeland Security (DHS) to rescind its travel advisory to the Ninoy Aquino International Airport, following “significant improvements” in the airport’s security procedures.

“With the recent development of the DHS to rescind its Public Advisory on security issues at Naia, we can expect more travelers from the US to visit the Philippines in the coming months,” underscored the tourism chief.

Romulo Puyat noted that the Department

Illegitimate. . .

Continued from A8

or friends of the court. In 2013, a Davao court upheld Aquino’s right to claim her inheritance but the Court of Appeals reversed the RTC’s decision in 2013, prompting her to elevate her plea to the SC. The CA held that “an illegitimate child has no right to inherit from the legitimate children and relatives of his father or mother,” in the same manner that such children and relatives inherit the same from the illegitimate child.

The appellate court used as basis Article 992 of the Family Code in ruling

reported to be among casualties in Benghazi car-bomb explosion.

“Still another close call at Mitiga today,”Cato reported in a tweet to Foreign Affairs Secretary Teodoro Locsin Jr. Cato was referring to the bomb-laden vehicle that exploded Saturday outside a shopping mall in Libya’s eastern city of Benghazi, killing at least three United Nations staff members.

The attack came even as the country’s warring sides said they accepted a cease-fire proposed by the UN aimed at halting combat in the capital Tripoli during an upcoming Muslim holiday.

The blast took place outside Arkan Mall in the Hawari neighborhood, where people were gathering for shopping a day before the Eid al-Adha holiday begins. The Benghazi municipal council said the attack targeted a convoy for the UN Support Mission in Libya.

The site of the attack is close to offices of the mission in Libya. Two of the dead hailed from Libya and Fuji, and the blast wounded nine people.

Cato said the explosion occurred near a supermarket and shops frequented by some Filipinos, including those from a nearby hospital. “@PhinLibya is in touch with Filipino Community there,” Cato said in his official Twitter account.

In a subsequent tweet, Cato showed photographs of the Filipino’s embassy staff in Tripoli, sharing lunch in observation of the Eid Mubarak.

“It has been an annual tradition of the Philippines Libyan Embassy to host members of the Filipino Muslim Community for Eid al-Adha,” Cato said, adding for lunch, they feasted on grilled meat from the three sheep that were sacrificed that day.

of Transportation (DOTr) and the Manila International Airport Authority (Miaa), over a seven-month period, improved and enhanced the security operations at the Naia to international aviation security standards with the assistance of experts from the US Transpor tation Security Administration (TSA).

Romulo Puyat congratulated the DOTr, headed by Secretary Arthur P. Tugade, and Miaa Chief Ed V. Monreal for w taking corrective measures to address security issues raised by the TSA, which led to the DHS travel advisory in December.

She noted the TSA regularly inspects and analyzes Naia’s security operations, maintenance and infrastructure.

The DOTr, in a news statement last year in reaction to the DHS travel advisory, said among the TSA’s recommendations to cure Naia’s security defects is the installation of new equipment, such as x-ray machines, walk-through metal detectors, and alarm systems. Another recommendation was the adoption of new background check procedures for newly hired airport personnel, which will include neighborhood and Nica (National Intelligence Coordinating Agency) checks for those implementing security control, and submission of new National Bureau of Investigation clearances for all Miaa access pass holders.

The TSA also recommended a change in the “security culture” among longtime Naia personnel in the area of consistent implementation and observance of strict security procedures. against Aquino.

The said provision states that an illegitimate child has no right to inherit from the inheritance of the legitimate relatives of his or her parents.

But in her plea, Aquino stressed that even though she was born out of wedlock, she has all the status of a legitimate child and that her father’s relatives cannot deny the fact that they had treated her as one of their own.

She also cited a 1983 ruling of the SC where the magistrates ruled that unacknowledged natural children have no rights whatsoever but allowed an exception to children who had already been treated as acknowledged and legitimate children.

Joel R. San Juan

BusinessMirror

www.businessmirror.com.ph

Monday, August 12, 2019 A3

Translating dreams into reality

AT dawn, Suntrust Asmara façade. Located along E. Rodriguez Ave., Quezon City.

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(FROM LEFT) Suntrust President Atty. Harrison M. Paltongan, Big Winner Yamyam Gucong, and Suntrust FVP - Sales, Marketing, and Training Mr. Jerry R.Rubis.

(FROM LEFT) Suntrust President Atty. Harrison M. Paltongan and 2nd Big Placer Kiara Takahashi

By Pauline Joy M. Gutierrez

INOY Big Brother: Otso Ultim8 Big Winner William “Yamyam” Gucong only hoped to provide for his family who lived in a typhoonworn house in Bohol. Kiara Takahashi, the season’s Second Big Placer, on the other hand, dreamt of having a home she and her mom can call their own.

Now, both these housemates wear dream-come-true smiles.

Yamyam, the courageous “Iskulit Bai ng Bohol” and Kiara, the charming “Singing Surfer ng La-Union” both won condominium units in Asmara, a premier condominium development of real estate developer Suntrust Properties, Inc. during the

Big Night, the grand coronation event of the longest ABS-CBN reality television series, Pinoy Big Brother.

Suntrust Properties, Inc. a wholly-owned subsidiary of property giant Megaworld Corp., is The Official Home of Pinoy Big Brother Otso. This partnership

SUNTRUST Executives Atty. Basilio Almazan, Atty. Harrison M. Paltongan, Engr. Gil Escarcha, and Mr. Isaias Berdin outside the PBB House

was sealed during a contract signing in November 2018 inside the PBB House.

Suntrust President Atty.

Harry Paltongan said that ABSCBN shares their vision for the Suntrust market and Filipino families everywhere. “We carry

Architect’s perspective ASMARA adult pool view

Architect’s perspective ASMARA man’s eye view

Architect’s perspective ASMARA aerial view

the same advocacy, which is particularly translating dreams into reality.”

The company believes that

the challenges inside the PBB house that test the determination of the housemates is a good representation of how Filipinos struggle to provide for the needs of their families. Much like the PBB house, the company’s projects also aim to become places that value the essence of friendship and family.

“At Suntrust, we believe that every Filipino deserves a home,” said Paltongan.

The condominium units in Asmara that Kiara and Yamyam received sits on a prime location along E. Rodriguez Avenue and boasts of three low-density condominium towers with modern contemporary designs.

With its strategic location, it is perfect for providing a balanced work-life-play-learn lifestyle fit for the PBB winners.

“[Yamyam] always sought for something better. Never letting himself be pulled back by difficulties – but being pushed forward by his aspirations.

His poverty was Yamyam’s springboard to reach this far” said Paltongan, who himself presented the symbolic Suntrust keys to Yamyam and Kiara during the awards night.

“Maraming maraming salamat po... Napatunayan ko, sa aking sarili na kahit sa kahirapan, kaya nating bumangon sa buhay,” Gucong said after being named the winner.

An emotional Kiara also imparted an important lesson she learned inside the PBB house: “Kahit anong mangyari, kung pamilya mo ang inspirasyon mo, kung hindi ka susuko sa anumang hamon na ibigay sayo hindi lang ni Kuya kundi pati ng buhay, huwag kang susuko.”

Apart from the Asmara units awarded to Yamyam and Kiara, Suntrust recently surprised television viewers in a heartwarming airing of PBB BatchBakan challenge when it awarded Yen Quirante, the “Palangiteen Dreamer ng Camarines Sur,” another condominium unit, the biggest prize a housemate ever received before the Big Night.

“Meron na po kaming matitirahan, may matitirahan na po ‘yung mama ko po, Kuya, ‘yung tatlo ko pong kapatid tsaka ako po Kuya,” Yen uttered in gratitude in one of the show’s episodes.

“I am amazed at how the PBB house came to be and at how they [reached] thousands of people... how they were able to teach them how to dream,” said Paltongan.

Yamyam, Kiara and Yen all placed their hopes and dreams in coming into the Big Brother House, now their dreams will continue in their new homes in Suntrust Asmara.

A4 Monday, August 12, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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DBM thumbs down CCT program for farmers

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Department of Budget and Management (DBM) thumbed down a P24-billion conditional cash transfer (CCT) program which will help 4 million farmers cope with rising production costs and plunging farm-gate prices.

The BusinessMirror learned that under the proposed CCT program, dubbed “Pantawid Saka,” planters with a 1-hectare farm will get at least P500 a month so they can Purchase inputs, such as seeds, fertilizer and diesel. Those with a 2-hectare farm or bigger are not eligible for a cash assistance of at least P6,000 a year.

However, “Pantawid Saka” did not make the cut in the Department of Agriculture’s (DA) proposed budget for 2020, as the government prioritized other banner

programs, such as universal health care program, according to Field Operations Service (FOS) Director Roy M. Abaya said.

“The proposal [Pantawid Saka] was crafted because of the impact of the TRAIN [Tax Reform for Acceleration and Inclusion] law on fuel prices,” Abaya told the BusinessMirror in an interview over the weekend. “It also sought to help farmers purchase farm inputs, like seeds and fertilizers, which have become more expensive.”

Of the 4 million farmers nationwide who were supposed to benefit from the program, half are rice planters.

The CCT program was crafted following a series of endorsements of various regional agricultural and fishery councils (RAFCs) for a fuel subsidy program for farmers.

The Pantawid Saka program was endorsed and approved by the Phil-

ippine Council for Agriculture and Fisheries (PCAF) two months ago.

Due to the increase in fuel prices, farmers had to shell out an additional P249 to P2,014 per hectare, depending on the type of irrigation facilities they use, according to a Philippine Rice Research Institute (PhilRice) study published last year. One of the recommendations of the PhilRice study is for the government to provide fuel subsidy to farmers.

Fallback

BUT Agriculture Secretary William D. Dar said he and Finance Secretary Carlos G. Dominguez have “mutually” agreed to implement an unconditional cash transfer (UCT) program for rice farmers who incurred losses due to low palay prices.

The Federation of Free Farmers said rice planters have lost some P40 billion in the first half as cheaper imports that entered the country

following the effectivity of the rice trade liberalization law pulled down farm-gate prices.

The UCT program will be implemented through the expanded Survival and Recovery (SURE) program of the Agricultural Credit Policy Council (ACPC), an attached agency of the DA. The proposed UCT program is on top of the interventions that will be bankrolled by the Rice Competitiveness Enhancement Fund (RCEF), which was created by Republic Act 11203.

The UCT program has been identified by Dar as one of the immediate short-term solutions to ease the drop in farm-gate prices.

“This unconditional cash assistance program is meant to help cushion the initial impact of lower palay prices on our farmers as they transition to the new rice tariffication regime,” Dominguez said in a

statement released on Sunday.

The RCEF allows the government to provide direct cash assistance to rice farmers using tariff collections that exceed P10 billion.

DA officials and rice stakeholders warned that it would be too late to help farmers recover their losses if the government would wait for excess tariff collections.

“Our problem is time. The money for cash transfers has not been allocated yet for this year’s budget,” Action for Economic Reforms (AER) President Jessica Reyes-Cantos said in a statement.

“The RCEF subsidy is rigid: the possibility of a UCT solely depends on how much tariff will be collected since only the amount in excess of P10 billion can be used for cash transfers. But this has to be done now to tide over farmers in the transition to RCEF going full blast,” Cantos added.

Revision

PCAF Staples Committee Chairman Raul Q. Montemayor told the BusinessMirror that the proposed Pantawid Saka program would be revised and would become a UCT program.

The revised program would cost more than P24 billion.

Despite the scrapping of the Pantawid Saka program in the DA’s proposed budget for 2020, Montemayor said the committee will still push for its institutionalization.

“We will revise the guidelines.

There won’t be any exclusion as to which farmers would be eligible to receive the cash assistance,” he said.

“And instead of the DA handling the program, it would be the Department of Social Welfare and Development that would oversee it since they have the experience with the 4Ps [Pantawid Pamilyang Pilipino Program],” Montemayor added.

PHL needs big-spending tourists to hasten GDP expansion—Neda

By Cai U. Ordinario @caiordinario

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OURISTS who are big spenders will help the Philippine economy grow faster in the nearand medium-term, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Ernesto M. Pernia said the current crop of tourists being attracted by the Philippines, including those from China, are “miniscule spenders.”

Pernia said many of the tourists that visit the Philippines, especially those from China, tend to stay longer but spend less while they are in the country.

“We need tourists from other countries as well, especially tourists that spend big here. Not those who are miniscule spenders. We need other tourists. If you look at the data on tourist receipts from various types of tourists, they seem to be rather on the low side. They stay longer but

tend to spend less,” he said.

Pernia added that the Philippines is focusing on attracting more European tourists, as well as those from Japan and South Korea.

To entice more tourists to visit the country, Neda Undersecretary Rosemarie G. Edillon said the Philippines will have to develop more historicalcultural destinations, golf courses, diving sites and wellness facilities.

Based on the Philippine Tourism Satellite Accounts (PTSA), inbound tourism expenditure reached P441.4 billion in 2018, lower by 1 percent from the P448.6 billion posted in 2017.

Nonetheless, total internal tourism expenditure grew 17.7 percent to P3.6 trillion in 2018 from P3.1 trillion in 2017. This was largely due to the double-digit growth of domestic tourist expenditures.

Based on the PTSA, domestic tourism expenditure reached P3.2 trillion, 21 percent higher than the 2017 record of P2.6 trillion.

“We do get them [big spenders]

but we want more. The recent cleanup at Boracay is a good selling point because it means that we care about cleanliness and the environment.

We will need to expand tourism service options, more toward rest, relaxation, and cultural tourism,” Edillon told the BusinessMirror over the weekend.

Earlier, Pernia said tourism and agriculture have the most potential to boost the country’s GDP. This is needed as economic growth in the second quarter slowed to 5.5 percent.

Under “Other Services,” recreational, cultural and sporting activities expanded by 6.8 percent in the second quarter, faster than last year’s 4.2 percent.

Hotels and restaurants expanded faster at 5.4 percent in the second quarter compared to the 4.2 percent recorded last year. However, the average growth of the industry in the first semester this year slowed to 5.1 percent in 2019, from last year’s 5.9 percent.

EXPRESS LANE 2.0

Trade Secretary Ramon M. Lopez (center), together with Parañaque City Mayor Edwin Olivarez (right) and Anti-Red Tape Authority Director General Jeremiah Belgica launched on August 8 the Project Express Lane Operation 2.0, which streamlines and offers transparency on business permit processing in the city through innovative information technology (IT) solutions. Project ELO 2.0 is the second phase of the city’s program that integrates barangay business clearance in the Business One-Stop Shop operations in the city hall. ROY DOMINGO

DOTr wants to complete Antique airport expansion ahead of schedule

By Lorenz S. Marasigan @lorenzmarasigan

T

HE Department of Transportation (DOTr) is fast-tracking the completion of the Antique Airport’s expansion program to quickly spur traffic and tourism in the province.

Transportation Undersecretary for Aviation and Airports Manuel Antonio Tamayo said his group has ordered the contractor, Verzontal Construction, to finish the airport development program two months ahead of its original completion date.

“We have requested the contractor to fast-track the development of the Antique Airport to efficiently serve the region. To do this, we need the augmentation of workers and equipment, and extend the working

hours from 8 to 12 hours,” he said.

The project, which started December last year, is now 12 percent complete.

Its original completion date is set for August 2020.

Ongoing improvements at the airport include the construction of a new passenger terminal building, apron, taxiway, fire station building, power house, administration building, perimeter and security fence, vehicle parking area and staff house.

Likewise, the agency and Deputy House Speaker Loren Legarda discussed the possibility of extending the runway from 1,430 meters to 1,800 meters in order to accommodate jet operations.

The lawmaker has pledged to secure P150 million in additional funding to

make this proposal work.

Transpor tation Secretar y A r thur P. Tugade noted that his office w il l work towards ensur ing that the airpor t w il l be completed w ithin the contract per iod.

“We will ensure that this airport will be upgraded on or before its target date so that we may deliver to the people of Antique the service and facility that they have long been yearning for,” he said.

The airport stopped commercial operations for several years and was used only by private planes until the government decided to reopen it in December.

Fl ag car r ier Phi l ippine A irl ines launched direct flights to Antique last December 16. PAL flies from Clark International Airport to Antique twice a week.

Tesda to include shoemaking in certification program, says Marikina mayor

By Claudeth Mocon-Ciriaco Correspondent

T

HE City of Marikina is aiming to revive its footwear industry via the set up of a one-stop shop and the inclusion of shoemaking in the certification program of the Technical Education and Skills Development Authority (Tesda).

Marikina Mayor Marcelino Teodoro revealed that shoemaking will soon have a National Certification (NC) from the Tesda after he met with Tesda Chief Isidro Lapeña to make a pitch for the inclusion of shoemaking in the agency’s programs.

“I recently talked to Tesda Chief Lapeña and asked him to give shoemaking a national certification [NC]. [I am] Happy to announce that Tesda, in the next six months, will have a shoemaking accreditation,” Teodoro said.

“Our approach is institutional, shoemaking will be included in the curriculum because there is a need for skilled workers,” he said, adding that it also aims to address the need for more shoemakers in the Philippines.

Teodoro said earlier that the local shoe industry, which continues to compete with cheaper imports, lacks around 2,000 workers.

The P60-million Shoe Tech School will be located inside the campus of Pamantasan ng Lungsod ng Marikina (PLMAR).

Teodoro said Marikina shoemakers recently came together instead of competing and that they are now more organized than before with the same goal: to help the local shoe industry flourish again.

He said Marikina will soon have a onestop shop which will feature all Marikinamade shoes.

“This move of creating a one-stop shop is to help our businessmen and shoemakers. If before, people have a hard time looking for shops, they can just go to this shop where all designs from various shops will be displayed and sold,” Teodoro said.

Unlike imported shoes which are not durable, Teodoro said Marikina shoes can last for a year, citing a shoe test conducted by the local government.

He also said the trainers for the Shoe Tech School who trained overseas are now ready to teach aspiring shoemakers.

In 2017, the Department of Trade and Industry said it remains committed in supporting the Marikina shoe industry from the policy and program level that will improve access to raw materials and supply chain, as well as enjoin the government and private sectors to give preference to buying locally made shoes.

Agriculture/Commodities BusinessMirror

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PHL rice inventory expanded 31% at the start of lean season–PSA

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE country’s rice inventory as of July 1 rose by 31.9 percent to 2.625 million metric tons, from 1.99 MMT last year due to the significant hike in the buffer stock of the National Food Authority (NFA).

Data from the Philippine Statistics Authority (PSA) showed that on a monthly basis, the inventory at the start of the lean season was also higher by 1 percent than the June record of 2.598 MMT. The PSA monthly report on the country’s rice inventory indicated that 41.9 percent, or 1.099 MMT, of rice were held by commercial warehouses while 1.008 MMT were in households.

The NFA’s buffer stock, which accounted for 19.69 percent of nationwide inventory during the period, was at 516,920 metric tons.

“Relative to the previous year’s level, increases were notable in all sectors. Stocks in the households and commercial warehouses were

up by 1.6 percent and 16.4 percent, respectively. Likewise, stocks in NFA depositories exhibited a significant increase of 869.8 percent,” the PSA said.

“Compared with the previous month, stocks in the households and NFA depositories were down by 3.9 percent and 6.2 percent, respectively. However, stocks in commercial warehouses increased by 10.2 percent,” it added.

The NFA’s buffer stock is expected to rise in the coming months as it expressed its intention to continue buying unhusked rice from farmers even during the lean months of July to September.

The food agency reported on Friday that it overshot its target

of 265,199.95 MT in July to August as its purchases reached 288,719.45 MT. “The month of August has just started but the NFA has already bought a total of 26,036 bags [1,301.8 MT] in the first week,” NFA Administrator Judy Dansal said in a statement.

The top 10 provinces with high palay procurement record from January to August were Nueva Ecija, Occidental Mindoro, Isabela, Bulacan, Northwestern Cagayan-Apayao, Tarlac, North Cotabato, Mamburao, Cagayan and Pampanga.

The NFA stepped up its purchases of palay from local farmers following the effectivity of Republic Act 11203, which reduced its role to buffer stocking.

The food agency buys palay at the government support price of P17 per kilogram plus incentives of P3 per kg for buffer stocking, P0.20 per kg for drying, and P0.20 per kg for delivery and P0.30 per kg for cooperative development incentive fee.

In the same report, the PSA said the country’s corn inventory as of July 1 reached pegged at 822,700 MT, 71.1 percent over the 480,860 MT recorded in the same period last year.

However, the July corn stock-

pile was 4.3 percent lower than the 859,770 MT recorded inventory in June, the PSA added.

The bulk of the corn inventory was in commercial warehouses which accounted for 761,520 MT while the remaining volume of 61,180 MT was kept in households.

“In comparison with the previous year’s stocks inventory, increments were observed in the households and commercial warehouses by 1.5 percent and 81.1 percent, respectively.

There were no cornstocks in NFA depositories during the month,” the PSA said. “ T his month ’s cor n stocks in the households decreased by 23.6 percent and 2.3 percent in commercial warehouses from the previous month’s record. As in previous month, there were no corn stocks in NFA depositories for the month,” it added.

Data from the PSA indicated that rice production in the first half shrank by an annualized rate of 5.09 percent to 8.269 MMT while corn output fell by 4.33 percent year-on-year to 3.597 MMT. The contraction in the production of the country’s two most important crops was traced to the adverse effects of El Niño, which dried up Philippine farms during the six-month period, the PSA said.

Editor: Jennifer A. Ng • Monday, August 12, 2019 A5

Commercial raisers boost H1 broiler output by 3.7%

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HE expansion of farms by commercial broiler raisers drove the country’s chicken output to rise by 3.7 percent to 936,170 metric tons (MT) in the first half, according to the Philippine Statistics Authority (PSA).

Data from the PSA indicated that the latest figure was 33,510 MT higher than the 902,660 MT recorded in the January-to-June period of 2018.

The PSA said in a report that the expansion of farms, particularly by commercial broiler raisers in Central Luzon, Central Visayas and Zamboanga Peninsula contributed to the expansion in chicken output.

“In Davao region, more supply of day-old chicks [DOCs] was received from broiler integrators during the quarter,” the report read.

“Also, the culling of unproductive layers in Ilocos region, Central Luzon, Western Visayas, Central Visayas, Eastern Visayas, Zamboanga Peninsula, Northern Mindanao and Caraga contributed to the increase in total chicken production,” it added.

The increase in chicken output, however, resulted in a 7.55-percent year-on-year drop in the average farm-gate price during the six-month period, the PSA said. The average farm-gate price of chicken reached P84.16 per kilogram, lower than the P94.65 per kg recorded last year.

Due to the decline in farm-gate prices, the value of chicken output at current prices fell by 7.78 percent

to P78.787 billion, from last year’s P85.434 billion, according to data from the PSA. Since late last year, the country’s broiler raisers have been incurring losses as overproduction and the increase in imports resulted in a supply glut.

Prior to the turnaround in May, when the average farm-gate price exceeded P80 per kg, the average quotation for broiler was below the break-even level of P75 per kg.

Based on studies conducted by the Department of Agriculture (DA), the Philippines could experience a glut in chicken supply this year, with the surplus pegged at 135,851 MT. The DA, using regression analysis, expects total broiler meat supply to hit 1.424 million MT, which is higher than the estimated total demand of 1.288 MMT. The PSA reported that among the three subsectors that recorded output increases in the first half, poultry recorded the fastest growth at 4.73 percent.

“Poultry production went up by 4.14 percent and it accounted for 17.75 percent of the total agricultural output in the second quarter of 2019,” the PSA said.

However, the sustained expansion of the livestock, poultry and fisheries subsectors was not enough to offset the lackluster performance of the crops subsector as farm production contracted by 0.24 percent year-on-year in the first half. Jasper Emmanuel Y. Arcalas

A6 Monday, August 12, 2019

BusinessMirror

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BusinessMirror

Monday, August 12, 2019 A7

Green Monday BusinessMirror

A8 Monday, August 12, 2019

www.businessmirror.com.ph • Editor: Lyn Resurreccion

ALeRTO keeps LGUs alert vs floods Story & photos

by Jonathan L. Mayuga @jonlmayuga

D

uring this rainy season, some towns and cities in the Zamboanga Peninsula and Basilan can use a tool to be more alert against flash flood.

With the unpredictable weather, there is always a better way to stay safe—or at least stay alert— to make sure those living in socalled danger zones, or f loodprone areas, will not be swept away by raging rivers or flash floods.

Thanks to the Automated Water-Level and Rain Monitoring Using Near-Real Time Observation (ALeRTO) project of the Ateneo de Zamboanga University.

ALeRTO was showcased at the recent Luwas Pilipinas, Ligtas Pilipinas caravan organized by the Department of Science and Technology-Caraga Region and the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) of the DOST in Butuan City.

According to ALeRTO’s web site, the technology is an early-warning system that makes use of Automated Rain Gauges (ARGs) and Automated Water-Level Sensors (AWLS) installed in the different river systems in the region.

It was developed as part of the Geo-Informatics for the Systematic Assessment of Flood Effects and Risks for a Resilient (GeoSafer) Mindanao for Zamboanga, Basilan, Sulu and Tawi-Tawi (Zambasulta) region.

The device in a small box was prog ra m med to mon itor t he critical water level and rain data from DOST-Advanced Science and Technology Institute, and the status of the hydrometeorological data, specifically in Caraga, from the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa).

It determines the threshold category in each river, which is represented by the different color warnings. Once the device determines that a particular river has reached a certain threshold, it will automatically send alert messages via short message service (SMS) to registered users, specifically

The ALeRTO device

to local government units (LGUs).

T he SMS w i l l cont a in t he threshold interpretation, along with the rain and water-level values.

Through ALeRTO, local authorities and the communities can be more prepared for the adverse impact of rains and floods. More importantly, local authorities will be able to decide what course of action to take to reduce the risk of disaster and save lives and properties.

A localized early warning system that keeps track of water level in a particular river basin, ALeRTO uses sensors of Pagasa which provides data about weather disturbances, including rainfall and flood warnings, said Engr. Raymond Ong, one of the developers of ALeRTO. W hile these data are readily available in Pagasa’s web site, many LGUs are still unable to use them—either because they are not easy to understand or because they may not apply in the LGUs’ area.

Hence, despite available data coming from Pagasa, many local officials are oblivious of what is forthcoming, Ong said. “ T hat ’s why we developed ALeRTO. To make the available

data from Pagsa useful and more understandable for local settings,” Ong said in Filipino.

So far, he said, ALeRTO is now serving 10 LGUs. ‘ The 10 pilot areas and their specific river systems are: In Zamboanga del Norte: municipality of Siocon and Siocon River, municipality of Labason and Kipit River, municipality of Salug and Salug River; municipality of Sindangan and Sindangan River; and municipality of President Manuel A. Roxas and Tangian River.

In Zamboanga Sibugay: municipality of Bayog, Dilahan Imelda, Siay and Payao—all covering Sibuguey River; and municipality of Kabalasan and Kabalasan River; In Zamboanga City: Manicahan River and Tumaga River; and in Lamitan City, the Gubauan River.

“ALeRTO is a big help as an early warning system,” Mario Rodriguez, ALeRTO project leader said.

The development of the project started mid-2017 with funding from DOST-PCIEERD. In 2018, upon its completion, it was presented to President Duterte during a meeting with DOST officials in Davao City.

ALeRTO, Rodriguez said, was developed also to make use of available geohazard maps, specifically for f lood-prone areas because of the existence of large river basins.

But ALeRTO is all about a small box which gives advanced information through SMS about what is forthcoming.

For ALeRTO to work properly, it has to be connected to the computer with access to the Internet. Recipients of ALeRTO’s text messages must be encoded in the system prior to being armed.

Rodriguez explained that the box is like a cellular phone that is operated by a software that collects and processes data from Pagasa and transmit life-saving text messages based on specific rainfall and water-level threshold to the users, who may need to call for a forced evacuation before the river overflows.

A rain threshold is color-coded and matches the water-level threshold determined by ALeRTO teams, which are essential inputs into the ALeRTO device.

Yellow alert is for 7.5 millimeters to 15 mm of rainfall, while orange alert is for 15mm to 30 mm of rainfall. For the red alert, it means a 30 mm of rainfall was detected.

This means that the water-level threshold of the river basin being monitored is 60 percent bankful, 80 percent bankful, and 100 percent bankful for yellow, orange, and red rainfall alert, respectively. “ To deter m i ne t he w ater level threshold, we need to go to the river basin and conduct an assessment. For accuracy,” Rodriguez said.

According to Rodriguez, ALeRTO can be modified based on the specific requirement of the concerned LGUs. Some LGUs, he said, want the device to respond to text messages, which they are now working on and ready to integrate to enhance ALeRTO’s capacity.

The ALeRTO web site also provides information including the latest weather bulletin and the latest infor mation about ear t hqu a kes d irect ly coming from the Philippine Institute of Volcanolog y and Seismolog y.

S.E. AsIans learn best practices in climate-smart agri in Quezon

‘I

t takes a village to scale climate-smart agriculture.”

This statement of Leocadio S. Sebastian, regional program leader for CGIAR Research Program on Climate Change, Agriculture and Food Security in Southeast Asia, sums up the advocacy of CCAFS SEA, the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (Searca), and the International Institute of Rural Reconstruction (IIRR) to push for the establishment of climate-smart villages (CSVs) in the Southeast Asian region to improve food security and resiliency in local communities.

Searca, IIRR and CCAFS SEA jointly conducted a roving workshop last July to demonstrate how local-level outscaling of climate-resilient agricultural practices can be undertaken under different agroecosystems and conditions in Guinayangan, Quezon province.

The workshop participants came from the Asean Climate Resilience Network (AseanCRN). They are nationals of the Philippines, Cambodia, Indonesia, Laos, Malaysia, Myanmar and Thailand.

Their field visits to key CSV sites in Guinayangan enabled them to appreciate CSVs and their potential to significantly improve food security at the community level in the face of heightened risks to agriculturebased livelihood due to changing climate.

Dr. Glenn B. Gregorio, Searca director, said the battle against climate change is either won or lost at the grassroots level, where localized interventions assume a pivotal role.

Sebastian added that the village is the “nucleus of social action,” where real action toward climate-change mitigation and adaptation starts.

Participants at the Guinayangan Climate Resilient Agriculture Demo Farm and Eco-Park during the final leg of the field visits to the Guinayangan CSVs. Searca

CCAFS SEA developed the CSV approach in response to the need for context-specific solutions to climate risks at the local level.

The approach enables farmers to use experiential learning to overcome challenges posed by climate change and capacitate them to establish their own CSVs. Model CSV sites were established in the Philippines, Cambodia, Laos, Myanmar, and Vietnam to serve as platforms for CSA learning and community-based participatory action demonstrations.

The CSV in Guinayangan, Quezon, illustrates how the local government can use its natural resources to address the impacts of climate change, said Emilita Monville Oro, IIRR country director and acting regional director for Asia.

She also emphasized the importance of building the capacities of communities and local government units in scaling up initiatives on climate-smart agriculture.

The workshop discussed the key concepts and elements of the CSV as an agricultural research for development

approach to addressing climate change, food and nutrition security, and livelihood development.

Participatory tools and experiences in establishing the context of CSV, particularly in the case of the Department of Agriculture’s (DA) Adaptation and Mitigation Initiative (Amia) in Agriculture villages and the Guinayangan CSV were also presented.

The emerging lessons from CSVs in Southeast Asia were tackled in panel discussion by Sebastian; Perla G. Baltazar, senior technical officer at the DA Systemswide Climate Change Office; and Dr. Julian Gonsalves, IIRR senior adviser and CCAFS project leader.

The participants visited various sites in Guinayangan, Quezon, that showcase best practices in climate-smart agriculture.

O ne site was B arangay Cabong Norte, where participants learned about intercropping and other interventions in an upland agricultural system, with emphasis on corn production.

They also visited Barangay Capuluan Tulon, which featured small-scale low external input, low carbon footprint methods of pig raising using resilient but improved native pig breeds as alternative source of livelihood of farmers.

The fishery and coastal agriculture site in Barangay Capuluan Central, showcased initial work on coastal reforestation and diversification of livelihoods of coastal fishing families.

Guinayangan Mayor Cesar J. Isaac III shared the local government unit’s experiences on the Green Fund (payment for ecosystem services) and water resource management during the field visit to the Maulawin Spring Protected Landscape.

In Barangay Santa Cruz, the participants learned about farmers’ experiences regarding agroforestry and diversification, specifically the production of chili peppers and linkage with the private sector in expanding their market.

The demo farm and eco-park managed by the Office of the Municipal Agriculturist of Guinayangan served as the last stop of the roving workshop.

The participants also visited the National Swine and Poultry Research and Development Center and the Quezon Agricultural Research and Experiment Station in Tiaong, Quezon.

There they learned about the various initiatives and milestones under the DAAmia Program, particularly the adaptation strategies and interventions implemented in the Amia village in San Francisco, Quezon.

Th e wo r k s h o p c u l m i n ate d w i t h participants sharing their best practices and experiences in CSA-related work followed by a plenary presentation of their reentry action plans.

E.U. Delegation underscores commitment to lower carbon emissions

European Union Ambassador Franz Jessen (center) bikes for 50 km around Bohol recently to support global campaign to lower carbon emission.

European Union Ambassador Franz Jessen (fifth from left) joins the planting of mangrove seedlings in Panglao, Bohol.

E

uropean Union Ambassador Franz Jessen continued with his bid to convey the message to help counter climate change and to underscore European Union’s commitment to lower carbon emissions by 40 percent by 2030 compared to 1990 levels.

Together with First Secretary Jerome Riviere of the EU Delegation and Marc Rooijackers of the Asian Development Bank, Ambassador Jessen biked for 50 kilometers around Bohol last weekend along with local bikers.

This was the first time that Ambassador Jessen biked in Bohol. Together with other ambassadors and diplomats, he previously biked more than 200 kilometers in Guimaras and in Palawan.

To further stress the importance of the environment, Jessen participated in the mangrove

seedlings planting in Panglao.

Besides biking, Jessen was met by Atty.

Kathyrin Fe Pioquinto from the office of Gov. Arthur Yap and discussed vital issues in the three districts of Bohol.

He also met with Tagbilaran Mayor Baba Yap and Bohol Gov. Arthur Yap. Riviere and Rooijackers were warmly welcomed by the Holy Name University. Riviere talked about EU-Philippine relations with political science students of the university.

The students and management of the university expressed interest in participating in the upcoming European Higher Education Fair.

Riviere had a chance to see the quality products of Escuella Taller as he commended the institution for providing educational opportunities for the youth.

‘Coral monument’ in Batangas removed

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dmitting blunder, a nonprofit, nongovernment organization has removed its controversial coral monument project at the Basura dive site in Janao Bay, in Barangay San Jose, Mabini, Batangas, over the weekend, admitting that the project that was implemented last year was a big mistake.

The move came after the newly elected president, P.A. Velasco, of Junior Chamber International ( JCI)-Parañaque Pambato, took over.

He apologized for the group’s shortcoming by instituting corrective measure in the wake of protests aired by environmentalists and conservation advocates on social media.

In a telephone interview, Velasco said they are disappointed on the failure of the past leadership to fulfill its promise to correct its mistake.

“We will now coordinate with BFAR Calabarzon to transfer the corals. But we want to know from BFAR [Bureau of Fisheries and Aquatic Resources] if it needs to be transferred or just left on its own. I am no expert in this matter,” he said in a mix of Filipino and English.

Velasco claimed he strongly opposed the project. “I asked them before if it will help the community. They went on to implement it. Was it for the divers? It appears that it was only meant to showcase the name of the JCI. Worse, the project caused harm and damage in the area,” he said.

According to Velasco he met with Danny Ocampo, an award-winning ocean photographer and expert diver, to find ways on how to truly help conserve the corals in the area.

Ocampo first brought up the issue of the coral monument project in September 2018 during a dive with friends in the area. He took photographs of the huge JCI monument atop a base with dying corals around it and posted it on Facebook.

The FB post triggered a spirited debate that saw JCI members defending the project, but later its officials admitted it was inappropriately located.

Ocampo said the area is not ideal for coral gardening. He also questioned the manner by which the corals were harvested and put around the base of the monument, saying that such is not even the right way of coral propagation. It requires the guidance or supervision of BFAR or Environment department personnel who are

experts in coral propagation, he said.

To recall, Leo Veses, a diver of JCI Parañaque Pambato, in his response to the B usinessM irror ’s query last year, said “The Coral Monument: Save Our Oceans Program” was implemented on August 11, 2018, and commenced a series of programs that are dedicated to making the marine ecosystem better and healthier.

The total area of the project site is 2 meters by 2 meters, including the coral marker and the coral fragments area. The coral fragments were covered by around a dozen coral heads.

The program began with underwater and coastal cleanups, a coral rescue and propagation, a forum on how to clean up after the ocean, and the installation of the JCI coral marker.

He also said that the project was implemented out of the JCI’s concern for the environment.

“We are just trying to make things better.

JCI is committed to helping our fellowmen. For this project, we even shelled out money from our own pockets to make this happen,” he said. “It is also envisioned that it will turn into a coral reef site,” further added.

He said that upon meeting with Ocampo last year, it was decided that the JCI team will go back to the site, create a temporary solution by adding layers of rocks that would serve as a temporary bed for the corals while consulting the help of experts in fixing the situation.

Veses said they have also met with the international group, Reefcheck, joined its coral conservation forum, and dove with them to learn more about the seas, their group, and their advocacy. However, since then, the blunder coral monument project was never corrected.

Velasco said they decided to remove the concrete slab with the name of the JCI on it.

They also plan to put up buoys in the area to cordon coral areas to protect them from destructive human activities, including local tourists and divers, and fishing boats and tourist boats that navigate in the area.

“We will talk with our BODs [members of the board of directors]. Maybe, instead, we will raise fund for this project to protect the corals.

About the base of the monument, we will use it as mooring block,” he said.

Velasco promised that JCI will be very cautious in implementing environmental programs to prevent a repeat of the coral monument fiasco.

Jonathan L. Mayuga

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, August 12, 2019

Editor: Lyn Resurreccion • www.businessmirror.com.ph

A9

Sawdust: An answer to world’s plastic woes?

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technology start-up near Ontario’s leafy border with Michigan says it has the answer to the world’s plastic pollution problem: sawdust.

Origin Materials is getting ready to pay sawmills in the area $20 a ton for the scraps left over in the process of turning logs into lumber, which it will use to make recyclable plastic bottles that remove carbon dioxide from the sky because they’re made from sustainably sourced wood waste.

Nestlé SA, Danone SA and PepsiCo Inc. plan to sell water in Origin’s recyclable plant-based bottles in early 2022.

It’s one of the many unconventional ways conceived by scientists to reduce the world’s reliance on plastics made from petroleum, which emit as much climatedamaging pollutants as 189 coal plants each year from production to incineration.

Other so-called bio-based plastics are being developed from sugar, corn, algae, seaweed, sewage and even dead beetles.

“Consumers are caring about plastic in a way that they haven’t in a long time, maybe ever,” said John Bissell, 34, who founded Origin Materials in 2008 and has spent 10 years working as an engineer developing alternative plastics that don’t contribute to climate change.

“Everyday things like bottles and clothing can now become carbon negative, but remain otherwise functionally identical.”

That may be true in theory, but phasing out petroleum-based plastics will be an uphill battle.

Use of the material has become so ingrained for societies around

the world that about half of all new oil demand through 2040 will come from petrochemicals, an industry that relies on plastics for most of its business, according to BloombergNEF. The $500-billion global plastics market is responsible for 5 percent of greenhouse-gas emissions, Friends of the Earth data show. Some projections see that ratio tripling in the next 30 years.

Plant-based plastics, especially varieties made from sugar cane, are starting to seep into the mainstream as companies try to respond to consumers who are increasingly angry about the ecologically devastating impact of plastics.

London-based Bulldog sells its male skin-care products in plastic tubes made from sugar cane. Last year, Danish toymaker Lego A/S started including botanical pieces, like leaves, bushes and trees, made entirely of plant-based plastics in its box sets.

It’ll take getting big food and beverage companies on board to really alter the equation. Nestlé alone produces 1.7 million tons of plastic packaging a year, according to the Ellen MacArthur Foundation, enough to make over 51 billion bottles.

Beverage makers like CocaCola Co. and Pepsi use a lot more than that. Coca-Cola rolled out its so-called plantbottle in 2009, but it’s still 70 percent petroleum based.

“There is no doubt that aware-

ness around plastic waste has become more prominent in the last two years,” said Simon Lowden, president of PepsiCo’s globa l snacks group, which announced in 2016 it would seek to reduce absolute greenhouse-gas emissions by 20 percent by 2030.

As part of a strategy to find more sustainable packaging, Pepsi last year joined Nestlé and Danone’s NaturALL Bottle Alliance to find ways to reduce the carbon footprint of beverage bottles. All three plan to buy 100 percent plant-derived bottles from Origin Materials when its Ontario plant gets up and running at the end of 2020 with a starting capacity of 300 million bottles a year.

Origin Materials developed

a way to extract cellulose from wood waste to make para-xylene, a hydrocarbon usually derived from oil used to manufacture PET, one of the most common plastics today.

Since trees and plants naturally capture CO2 through photosynthesis, using sustainably sourced sawdust and wood chips more than offsets any pollutants released in the manufacturing process, according to Bissell.

However ingenious the techn iques to m a ke pl a nt - ba sed bottles may get, though, they’re still plastic.

Not all varieties are recyclable or biodegradable. And ultimately unless they are recycled—and worldwide only one out of every

five bottles is—plastic bottles inevitably end up in landfills where they may spew pollutants into the air, or worse, find their way into the oceans where most could take hundreds of years to degrade, killing birds, fish and whales in the process.

When incinerating, bio-based plastics may be little better than oil-based ones because the carbon stored in them is released.

Since David Attenborough ’s Blue Planet 2 documentary in 2017 showed albatrosses feeding their chicks plastic by accident, plastic’s environmental impact has “gone from a niche topic of conversation and engagement to something that features in all our conversations,” said Mark

Benguet chrysanthemum growers to gain from best practices

Two technologies developed by DLSU, Crabifier and BioMon Dr. Adelaida T. Calpe IARRD-PCAARRD

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Crabifier app to help identify mangrove crab

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rabifier, a mobile app that identifies mangrove crab species at the juvenile stage, was recently launched. This mobile application was developed by the Technologies for Biodiversity Use and Conservation (TechBiodive) Unit of the De La Salle University (DLSU).

It is an output of the mangrove crab project, “Integrating Genomics with Image Analysis and Geographic Information System Technology for Improved Rearing of Mudcrabs,” funded by the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology (DOST-PCAARRD).

Crabifier is an open-access mobile application for sorting the fast-growing market-preferred “king crab” and two other species of mangrove crabs at the juvenile stages.

It aims to help farmers maximize production in farms, reduce postharvest losses of juveniles and potentially increase income by classifying the price of the mangrove juvenile crabs caught from the wild. This would help the mangrove crab industry, especially that 80 percent to 90 percent still depend on wild-caught juveniles from mangroves.

The mobile app was developed by integrating data from DNA markers, data with image analysis and mobile computing through partnership with the Practical Genomics Lab. Headed by Dr. Ma. Carmen Ablan-Lagman and Dr. Chona Camille Vince Cruz-Abeledo of DLSU, the team that developed the app includes Southeast

Lancelott, a sustainability expert at PA Consulting Group Ltd. The London-based consultancy has seen a “significant increase” in requests from food and beverage companies on how to manage plastic waste.

A fter the European Union and New York announced bans this year on certain single-use plastics, many companies are getting nervous about how far those regulations could go, added Katherine Lampen, a Londonbased partner in Deloitte’s sustainability advisory team, which advises big consumer packaged good companies.

“They are concerned that the future viability of their business could be reduced due to a heavy reliance on the material,” she said.

Skeptics of the bioplastic push say they’re not resolving the underlying problem. It would be better to focus on improving rates of reuse of plastic or glass packaging, with waste collected by the producer, according to Juliet Phillips, an ocean campaigner at the Environmental Investigation Agency, a nongovernment organization.

If production of plant-based plastics were to be scaled up, “landuse demands could bring about competition with agriculture, accelerating deforestation concerns and biodiversity loss,” she said.

For Bissell at Origin Materials, the plastic industry has become too important for global commerce to work on only one front to improve sustainability, especially considering soaring demand in emerging markets where reuse programs tend to be underdeveloped.

“The end of life of plastics is really important. I’m not too sure that I’d argue that it’s more important than climate change. That feels like maybe not the right trade off to make,” he said. Bloomberg News

Asian Fisheries Development Center experts Dr. Ma. Rowena Eguia, Ann Francesca Laguna and Courtney Anne Ngo. The launch, which was held at the Multipurpose Hall, Bro. Andrew Gonzales, FCS, Hall, DLSU in July also launched another app, Biodiversity and Threats Monitoring App, BioMon. BioMon is an open-source mobile app for monitoring biodiversity and recording encounter data of terrestrial biodiversity. The data may be immediately downloaded to computers, bypassing the tedious process of encoding data, preventing data pile-up and encouraging immediate use of the data, especially for policy. The information may be stored, shared, and analyzed to draw maps for biodiversity distribution, evaluate threats, and establish relevant spatial and temporal patterns.

BioMon will allow local communities to actively monitor their own key biodiversity areas, as well as obtain and use crowdsourced data. The technology was developed through a partnership between the Terrestrial Ecology and Climate Resilience Lab, or TECResilience, headed by Dr. Neil Aldrin Mallari of DLSU and the Center for Conservation Innovation Ph Inc. Representing DOST-PCAARRD during the launch were Inland Aquatic Resources Research Division’s Officer in Charge Engr. Eduardo V. Manalili and Dr. Adelaida T. Calpe, senior science research specialist and Industry Strategic S&T program manager for mangrove crab.

Shirley T. Gahon/S&T Media Services

enguet’s cutflower industry is among the fastest-growing sector of the Benguet economy. This can be seen by its exponential expansion within the last five years.

Among the most cultivated cutflower is chrysanthemum, with an average annual production of 1.59 million dozens.

With the booming farm tourism in Benguet, especially in the municipality of La Trinidad, chrysanthemum production plays an important role to the farmers and the community.

Recognizing this importance, the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology recently funded a project on chrysanthemum production in La Trinidad.

Titled, “Enhancing Good Agricultural Practices Compliance and Climate Resilience of Spray-Type Chrysanthemum Production in La Trinidad, Benguet,” the project aims to boost GAP compliance and climate resilience of chrysanthemum farmers in the area.

The project is an offshoot of two recently

Benguet’s chrysanthemum Technology Transfer and Promotion Division PCAARRD completed projec ts on chr ysanthemum, namely, “Science and Technology CommunityB a s e d Fa r m [ S TC BF ] o n S p r a y -Ty p e Chrysanthemum Production,” funded in 2017

and the “S&T Interventions to Enhance Spraytype Chrysanthemum Production through GAP Options” funded in 2018.

STCBF enhanced the quality of spray-type

chrysanthemum by increasing the number of Class AA, improving flower color intensity with bigger florets and reducing pesticide application.

The newly approved project will prepare the cooperators and their farms in developing an eco-friendly and climate resilient environment while reducing synthetic fertilizer use and pesticide applications.

This is without compromising the quality of the cutflower and the income of farmers through the application of GAP options for chrysanthemum production.

It will be implemented in five clusters composed of 46 farmer cooperators from major chrysanthemum producing barangays in La Trinidad, Benguet.

Benguet State University, under the leadership of Dr. Carlito P. Laurean, in partnership with the Municipal Agriculture Office of La Trinidad, Department of Tourism, province of Benguet, Agricultural Training Institute, and the La Trinidad Cutflowers and Ornamentals Growers Association will implement the project.

Diana Rose P. Cabello/S&T Media Services

Nepal woman spends her day feeding temple monkeys

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Saraswati Dangol feeds monkeys in the forest near Pashupatinath temple in Kathmandu, Nepal, in this July 8 photo. AP/Niranjan Shrestha

ATHMANDU, Nepal—In the forests of Nepal’s capital Kathmandu near the revered Hindu temple of Pashupatinath, some 300 monkeys eagerly await their pieces of roti, or flat bread.

For the past four years, Saraswati Dangol has been bringing the bread every day to feed the monkeys. She buys some 10 kilograms (22 pounds) of flour and spends hours cooking the roti, traveling to the forest temple and feeding them.

Thousands of monkeys live around the temple and about 300 of them come for Dangol’s roti.

As soon as they see her with her white sack, they gather around her, some patiently waiting for their turn while others less patiently snatching the bread from her hands.

“It used to be that the monkeys were able to feed on the fruits from the trees but now the forests are thin and hardly any fruit,” she said.

“They are going hungry and some of them

even go to nearby houses to steal food,” she said, adding that the monkeys are injured by people whose homes they try to enter.

Lately the monkeys from Pashupati have been wandering farther away from the temple and forest area in search of food.

Many of Dangol’s regulars are elderly, or mother or baby monkeys that are unable to fight for their share of food in the wild.

Dangol rarely misses a day at the temple, but when she does, she struggles not to worry about the monkeys.

“When I miss a single day, I feel like I have not fed my kids and I become depressed,” she said.

The temple is revered by Hindus and draws pilgrims who come from all over the world.

The monkeys are a key feature of the temple area. Visitors sometimes feed them, but the monkeys more often help themselves to the fruit and sweets left as temple offerings for the Hindu god Shiva. AP

A10 Monday, August 12, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial Unintended consequences of government policies

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FTER more than a decade working as a senior sales executive for a multinational firm in the Philippines, Roberto Deal Cruz (not his real name) began enjoying his financial success. He saved his capital to open his own business, which he was able to do about 10 years ago.

Mr. Deal Cruz started with one Philippine Charity Sweepstakes Office Lotto outlet franchise and currently has about a dozen. While the fees to begin this business are not high in comparison to other opportunities such as fast-food outlets, it is also a low-profit margin enterprise. The business model is conservative and hardly like a “get-rich-quick” scheme.

While one could argue against the merits of legal gambling, the business itself is no less of a “public service” than the nearest bar-restaurant or even a medical clinic offering Botox injections. Further, Mr. Deal Cruz employs several dozen people, as well as contracting legal and accounting professionals. And every centavo of proper taxes is paid since there is a complete paper trail of revenues.

His operation is fined-tuned by this time and he knows his business model perfectly well. Revenues and gross profit from Lotto and Keno sales provide enough money to make the business a break-even proposition. The company earns its net profits from selling “Scratch Cards” and it sells around P2 million worth of “Scratchit tickets” per month.

With both the Keno and scratch card games shut down, Mr. Deal Cruz is losing money everyday.

We know that life is always a matter of making choices and that these choices are not always between good and bad. It is usually making a decision based on trade-offs between “sort of good” and “sort of bad.” Will the business difficulties for Mr. Deal Cruz be offset by the potential of mitigating the alleged corruption in the Lotto business?

There is no question that higher importation of rice under the “tariffication” program has reduced consumer prices. But then a great number of other questions arise. Has tariffication reduced prices enough in relation to the amount of rice that has recently been imported? Are all the importers, as well as government officials playing by the rules to maximize the tariffs collected? Is the price reduction worth the negative impact of lower farm gate prices on rural, mostly small, producers?

If you compare urban poor and rural poor (which is the group that most farmers belong to) how do you manage both groups’ needs? Probably the government could improve the standard of living of the urban poor by getting the consumer price of rice to P2 per kilo.

Rural farmers could become wealthier quickly if the farm gate price of palay is P100 per kilo. Of course, these are extreme and unrealistic examples. But the point is that higher or lower rice prices affect urban and rural poor differently. And it may be impossible to create a proper balance.

It is also virtually impossible for any government economic policy not to have unintended consequences no matter how noble the intentions, or even how well thought-out the policy might be.

While there are those who think that government can be “omnipotent, omniscient and omnipresent,” it is probably best to use those terms only for the deity of your choice. As the poet wrote, “Poems are made by fools like me, but only God can make a tree.” The same can be said for perfect government policies.

Ready for a new Edsa revolution?

Atty. Jose Ferdinand M. Rojas II

RISING SUN

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OMMUTERS on Edsa have been complaining in recent days about the traffic situation, which apparently turned from bad to worse because of the Metropolitan Manila Development Authority’s policy on provincial buses and the strict implementation of the “yellow lane” policy along the entire stretch of Edsa.

Some people reported that it took about four hours to travel the short distance from SM North Edsa to Cubao. Both public and private transportation were affected and some commuters had no choice but to turn back or to walk because there was no way they were going to make it to their appointments on time.

Now there have been many

Beneficial owner Atty. Lorna Patajo-Kapunan

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attempts to solve the Edsa traffic problem, as there are so many assumptions as to why the situation is almost unacceptable: too many cars, too many buses, too many people, etc. Whatever it is, the fact is that we are losing so much money everyday due to traffic.

Last year, the Japan International Cooperation Agency reported that

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HE Securities and Exchange Commission issued in its meeting on July 9, 2019, SEC Memorandum Circular 152019 which amends SEC MC 17-2018 revising the General Information Sheet (GIS) to include beneficial ownership information, pursuant to the provisions of the Revised Corporation Code of the Philippines, as well as the implementation of the anti-money laundering law and the Terrorist Financing Prevention and Suppression Act. The MC 15 shall apply to all SEC registered stock and nonstock domestic corporations required to submit the General Information Sheet under existing laws, rules and regulation.

Highlights of the circular include the following: 1. Under Section 2 of MC 15, “Beneficial Owner” refers to any natural person(s) who ultimately own(s) or control(s) or exercise(s) ultimate effective control over the corporation. This definition covers the natural person(s) who actually own or control the corporation as distinguished from the “legal owners” as defined herein. Such beneficial ownership may be determined on the basis of the following: “Category a. Natural person(s) owning, directly or indirectly or through a chain of ownership, at least 25 percent of the voting rights, voting shares or capital of the reporting corporation. This is without prejudice to ownership thresholds that may be imposed by other regulators. b. Natural person(s) who exercise control over the reporting corporation, alone or together with others,

through any contract, understanding, relationship, intermediary or tiered entity. c. Natural person(s) having the ability to elect a majority of the board of directors/trustees, or any similar body, of the corporation. d. Natural person(s) having the ability to exert a dominant influence over the management or policies of the corporation. e. Natural person(s) whose directions, instructions or wishes in conducting the affairs of the corporation are carried out by majority of the members of the board of directors of such corporation who are accustomed or under an obligation to act in accordance with such person’s directions, instructions or wishes. f. Natural person(s) acting as stewards of the properties of corporations, where such properties are under the care or administration of said natural person(s). g. Natural person(s) who actually

P3.5 billion was being lost per day because of our traffic problem. The agency further projected that in 2035, the estimated cost of lost opportunities would amount to a whopping P5.4 billion per day.

More than five years from now, the population of Metro Manila combined with nearby provinces of Bulacan, Rizal, Laguna and Cavite (whose residents often commute to and from Metro Manila) is expected to rise to 38 million. It doesn’t take a genius to figure out that the expanding metropolis, along with its transport system, is unable to contain or handle this much people.

Experts need to take a long and hard look at the problem. I think solutions can come from various quarters and in different forms—address the population growth, improve infrastructure projects, come up with efficient traffic and car ownership policies, provide labor opportunities for people in the provinces and

those living in smaller cities, encourage new employment policies like telecommuting, and promote new technologies that will make it easier for people to communicate and work wherever they are, and many other possible solutions.

In many places outside the Philippines, including Europe, cars are making a gradual retreat from the roads and streets. Call it a phenomenon or a new revolution, it is definitely something that needs to happen in our country very soon.

Bike and scooter rentals are popular as they help people get from point A to point B without having to go through traffic. There are dedicated bike paths, more bike parks (instead of car parks), and new policies must be in place, like lower speed limits, car bans and car-free days.

It’s refreshing to think that this is possible here, too. If we are ready for it, someone’s bound to set the wheels in motion.

own or control the reporting corporation through nominee shareholders or nominee directors acting for or on behalf of such natural person(s). h. Natural person(s) ultimately owning or controlling or exercising ultimate effective control over the corporation through other means not falling under any of the foregoing categories. i. Natural person(s) exercising control through positions held within a corporation “i.e., responsible for strategic decisions that fundamentally affect the business practices or general direction of the corporation such as the members of the board of directors or trustees or similar body within the corporation; or exercising executive control over the daily or regular affairs of the corporation through a senior management position. This category is only applicable in exceptional cases where no natural person is identifiable who ultimately owns or exerts control over the corporation, the reporting corporation having exhausted all reasonable means of identification and provided there are no grounds for suspicion” (Section 2.1).

2. “Legal Owner” means the natural or juridical person who, in accordance with the pertinent provisions of Philippine law, owns or has the controlling ownership interest over the corporation or has the ability of taking relevant decisions within the corporation and impose those resolutions (Section 2.8).

3. Inclusion of the complete name, specific residential address, date of birth, nationality, TIN and percentage of ownership of the beneficial owner, subject to access restrictions of the public.

4. Manner of identification of beneficial owner from controlling

ownership, controlling voting rights, controlling through other means, and exercising ultimate effective control. The entity must exhaust all other means of identifying the beneficial owners. In exceptional cases where no natural person is identifiable who ultimately owns or exerts controls over the corporation and that the corporation has already exhausted all other means, the board and/or senior managing official shall be considered beneficial owner. For purposes of determining beneficial ownership, any natural person directly or indirectly, or through a chain of ownership, owning at least 25 percent of the voting shares or capital of the corporation, or at least 25 percent of the voting rights therein, as may be applicable, shall be considered as a beneficial owner. In the event that the entity owning at least 25 percent of the reporting corporation is an estate, trust or partnership, the natural person owning or controlling the estate, trust or partnership shall be disclosed as beneficial owner (Section 4.1).

5. Determination of natural person who ultimately owns the corporation through indirect ownership following the “Grandfather Rule” methodology. “Grandfather Rule” refers to the method by which the percentage of Filipino equity in a corporation engaged in nationalized and/or partly nationalized areas of activities, provided for under the Constitution and other nationalization laws, is computed, in cases where corporate shareholders are present, by attributing the nationality of the second or even subsequent tier of ownership to determine the nationality of the corporate shareholder.

See “Kapunan,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Monday, August 12, 2019 A11

A look into the future ‘Please release me, let me go’ of the tax-tech convergence Siegfred Bueno Mison, Esq.

THE PATRIOT

Joshua Tito L. Tangca

DEBIT CREDIT

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ECHNOLOGY has been in a constant surge—bringing about both improvements and disruption to the normal scheme of things. It has revolutionized the business setting and people’s lives, or, at least, their daily grind, to something more convenient and comfortable. More and more processes are being automated—transactions involving buying, selling, remittance, reservations or bookings, communications, transport, among others—consolidating more aspects of everyday life within the purview of information technology.

In this modern era, e-commerce and the digital economy play a significant role in the creation of business opportunities. More people took the leap of faith and embarked on transacting business online. The turn of events may be quick, but taxation authorities are catching-up. The Bureau of Internal Revenue (BIR) has issued regulations over time to facilitate tax compliance and collection in this emerging platform.

Transactions made through the Internet as a virtual marketplace, such as online shopping or retailing, online intermediation services, online advertising and online auctions are considered no different from those transacted in brick and mortar stores or physical shops. Thus, RMC 55-2013 enjoined online businesses to comply with the existing revenue regulations as applicable to other typical establishments such as registration of the business at the Revenue District Office, securing Authority to Print invoices/receipts, registration of books of accounts, issuance of registered invoice or receipt, withholding and remittance of required creditable/expanded withholding tax, final tax, tax on compensation of employees, and other withholding taxes, filing applicable tax returns on or before the due dates, payment of correct internal revenue taxes, and submission of information returns and other tax compliance reports, maintenance of books of accounts and other business/accounting records within the time prescribed by law, and making these available for inspection and verification by the BIR. Unbearable traffic congestion popularized ride hailing/sharing transport solutions provided by transport network companies. TNCs are a pool of transport vehicles that may be accessed through a common point of contract online, commonly with the use of mobile applications to book these vehicles for transport.

The BIR issued RMC 70-2015 reiterating the tax incidence on persons engaged in land transport using this mechanism. The TNCs and their partners are considered common carriers subject to 3-percent common carriers tax on their gross receipts if they were issued a Certificate of Public Convenience. Operating without CPC would mean that they will be classified as land transportation service contractors, subject to the 12-percent VAT; or if annual gross

Kapunan. . .

continued from A10

For the purpose of this Memorandum Circular, the reference to the Grandfather Rule shall be limited only to the method of computing the percentage of indirect ownership in determining the beneficial owner of the reporting corporation and shall not affect its applicability in determining the nationality of a corporate shareholder (Section 2.6).

6. Timeline on the compliance of update of beneficial ownership information, which shall be seven working days after change occurred or became effective.

7. Imposition of penalties against the corporation, as well as the liabilities attached to the directors/trustees/officers for failure to disclose

receipts do not exceed P3 million, may be taxed under the 3-percent percentage tax at their election.

Aside from processes going online, some products are also taking on an electronic form. Unlike products that are sold in a tangible form, some electronic products may give rise to some tax issues. Books, journals, and other similar publications that appear at regular intervals, with fixed selling or subscription prices, and are not devoted principally to the publication of paid advertisements are exempt from value-added tax. The Ecommerce Law of 2000 was referred to by VAT Ruling 002-08, which considered e-books, e-journals, and online academic library resources as essentially the same as those books or journals in printed form. However, a RMC issued on 2012 contradicted VAT Ruling 002-08 and subjected these electronic resources to VAT. It strictly regarded books to be printed; hence, sale and importation in its electronic form do not qualify for the VAT exemption. In a similar vein, the same confusion may arise over treatment of passive royalties from electronic books and publications—whether they fall under the 20-percent rate on final withholding tax on royalties in general or under books, literary works and musical compositions, which are subject to 10-percent tax.

Taxation authorities around the world, as well as here in the Philippines, are embracing the digitalization of tax administration. The recent enactment of the Tax Reform for Acceleration and Inclusion law requires Large Taxpayers and entities engaged in export to issue electronic receipts and invoices. As early as 2003, the idea of electronic invoicing was introduced by the BIR through RMC 71-03. Although this measure is not new, it provides us with an outlook into the transition of tax administration and compliance to a more technologically advanced state—preventing tax leakages and a more efficient and effective discharge of the tax function.

Joshua Tito L. Tangca is a Tax Associate at Reyes Tacandong and Co. He earned his bachelor’s degree in Accountancy at the Technological Institute of the Philippines Quezon City, cum laude.

This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat@gmail.com.

ranging from a fine of P50,000 to P500,000 (Section 11).

8. Submission of GIS in electronic format is suspended until further notice.

9. Corporations with GIS due for submission beginning July 31, 2019, are required to submit the Revised GIS containing the beneficial ownership Information.

While the intention of the Memorandum Circular is to prevent evasion of our money laundering laws and suppress terrorist financing, the guidelines are so cumbersome and detailed that it may cause even further delays in the processing of papers by the SEC. This runs counter to President Duterte’s mandate at the State of the Nation Address to all government agencies to cut the red tape and promote “ease of doing business.”

U

NDER Philippine law, an employee is not entitled to separation pay when he is terminated for just causes such as serious misconduct or habitual neglect of duty. An employee is also not entitled to separation pay when he tenders his resignation voluntarily. However, by way of exception, there can be certain occasions when voluntary resignation can still lead to payment of separation pay such as when grant of separation pay to resigning employee has been established by prior agreement or by standard business practice. Further, when an employee has been forced to resign due to authorized causes such as retrenchment or redundancy, he is given separation pay under our labor laws.

In some companies, however, employers resort to what labor lawyers call as “constructive dismissal”— when employees are harassed and practically coerced to resign from the company. In labor law, constructive dismissal occurs when continued employment is rendered impossible, unreasonable or unbearable on the part of the resigning employee.

It also occurs when there is a demotion in rank or diminution in pay or whenever an employer ostracizes, condemns or chastises an employee causing the latter to resign. In Philippine jurisprudence, there may be constructive dismissal if an act of clear discrimination, insensibility or disdain by an employer becomes so unbearable on the part of the employee that it could foreclose any choice by him except to forego

his continued employment. (Hyatt Taxi Services Inc. v. Catinoy, 412 Phil.

295). In case where there is an atmosphere of animosity and antagonism between the employer and the employee, the doctrine of strained relations calls for the payment of separation pay. On one hand, such payment liberates the employee from what could be a highly oppressive work environment. On the other hand, it releases the employer from the grossly unpalatable obligation of maintaining in its employ a worker it could no longer trust.

(Dreamland Hotel Resort v. Johnson, 729 Phil. 384) PBF has been an executive for a respectable company for more than half of his professional career. For reasons only known to his employer, he was unceremoniously demoted in

Second chances

I

By Ola Almgren

N 2002, 19-year-old Radam Jalani, who lived in the small seaside village of Mercedes in Zamboanga City, was resigned to being a seaweed farmer for the rest of his life. When he was 12 years old, Radam’s father asked him to quit school to help his family scrape out a living from planting seaweed. The 10 years that followed stretched out like a lifetime for Radam, taking him farther and farther away from school. And yet, just six years after contemplating a future he thought he could not escape, Radam began to live the life he had chosen for himself.

Radam returned to school. As a teacher.

Through the Department of Education’s (DepEd) Alternative Learning System (ALS), Radam completed his Bachelor of Elementary Education degree. He has been teaching the second grade class at his old school since June 2018.

The United Nations Children's Fund Education Program in the Philippines supports the ALS program by enhancing the capacity of the government to provide holistic, equitable and inclusive education for all children and adolescents. Unicef Philippines has developed priority actions targeting the most vulnerable and disadvantaged girls and boys, who have limited access to learning opportunities due to poverty, armed conflict, social discrimination or health issues.

Not too far away from Radam, Rijal Ibrahim Rasul and Jewelyn Baguio watched helplessly as their lives were turned upside down by the 2013 Zamboanga siege. Rijal had dropped out of college to sell fish with his father. When the conflict had passed, Rijal tried to find better work but he found his options severely limited by his age, religion and inadequate education. Jewelyn took a long time to recover from the trauma of hearing gunshots and had to stop working.

Rijal and Jewelyn needed to make a living but the disruption in their lives had affected their ability to find decent work. Help came through the UN Peacebuilding Support Office, where the International Labor Organization (ILO) and the Food and Agriculture Organization helped young people like Rijal and Jewelyn to find jobs and sustainable livelihoods in Zamboanga.

The ILO worked with industry partners to transform education by matching skills with the demands

of employers, thus enhancing youth employability. Rijal and Jewelyn were among those trained under a special course in hotel management.

As they gained knowledge and skills, they also developed a positive mindset, which boosted their confidence.

When Rijal and Jewelyn completed the course in 2017, they were immediately hired by one of the largest hotels in Zamboanga.

The Philippines has achieved nearuniversal primary enrollment rate at 94.2 as of 2017. Furthermore, in the past two years, the government has substantially increased completion rates for primary and secondary education, by 8.4 and 10.3 percentage points, respectively. We commend the government for progress on this front.

However, we need to turn our attention to Filipino children and youth who should be in school, but are not.

According to the latest Annual Poverty Indicators Survey (Apis), one out of every 10 Filipinos aged six to 24 was out of school, and the prevalence has generally been higher among the older age groups. Of the 3.6 million out of school children and youth, 83.1 percent were 16 to 24 years old, 11.2 percent were 12 to 15 years old and 5.7 percent were six to 11 years old.

The high cost of education accounts for why many of the country’s children and youth are not in school. According to the Apis, financial difficulty was one of the top 3 reasons (17.9 percent) for not attending school. About half of all out-of-school children and youth belongs to the poorest 30 percent of Filipino families, most of whom live in rural, agricultural areas. In many instances, boys and girls have missed classes—or skipped school entirely—to help their families to put food on the table.

Yet, while poverty factors largely

rank, but not in pay. While PBF felt that such situation was humiliating and intolerable to the extent that he wanted to resign, he stayed on like a good boy scout. The situation got worse when, due to some changes in senior management, PBF was asked to report to an affiliate of his employer, seemingly without legitimate grounds and without his prior consent. This time, PBF protested since the terms of his supposed temporary reassignment outside his employer’s premises was not time bound, and worse, failed to provide specific scope of functions and responsibilities. It has been held in various court cases that constructive dismissal occurs when a transfer or demotion of an employee is done without valid grounds such as genuine business necessity, even in the exercise of management prerogative.

In most jurisdictions, examples of constructive dismissal include a pay cut without consent, unilateral variation of working hours, forced relocation outside the original place of assignment, and loss/reduction of job responsibility without agreement. Constructive dismissal is seen as a cumulative series of acts taken together that is tantamount to a loss of trust and confidence.

Considered as a just cause for termination, breach of trust is a ground often used to terminate managerial employees. In most companies, employers offer a severance package to such managers as a Solomonic solution. The employer is relieved of the administrative task of proving such loss of confidence while the employee need not be subjected to

the humiliating process of defending himself on a charge that can be very subjective. From a financial standpoint, such grant of separation pay is a cost-efficient way of getting rid of employees who can no longer be relied upon nor trusted by the company.

But from a bigger perspective, separation or severance pay can be taken as a blessing for all. On the part of the employee, he receives some kind of financial cushion to soften the impact of unemployment while searching for his next employment.

On the part of the employer, such gesture can be seen as a legal necessity to prevent litigation. On the part of those employees left behind, they see such payment of severance pay to those who resigned as a compassionate act of kindness or gratitude for services rendered.

In severing employer-employee relationships, servant leaders in management should find inspiration and guidance in the Bible, for it is written in Lamentations 3:3233: “Though He brings grief, He will show compassion, so great is His unfailing love. For He does not willingly bring affliction or grief to anyone.” In termination cases, management will likely cause grief to its employees, however brief. Yet, servant leaders should be releasing and letting them go with a severance package, even to those who do not deserve it, not by reason or justice or equity, but by grace and compassion.

The Philippines has achieved near-universal primary enrollment rate at 94.2 as of 2017. Furthermore, in the past two years, the government has substantially increased completion rates for primary and secondary education, by 8.4 and 10.3 percentage points, respectively. We commend the government for progress on this front. However, we need to turn our attention to Filipino children and youth who should be in school, but are not.

enable them to make responsible decision-making and respectful behavior, protecting their health, well-being and dignity. Apart from reducing the incidence of early pregnancy, CSE also seeks to address violence, particularly bullying and HIV infection.

By adopting the 2030 Agenda, UN member-states, including the Philippines, have committed to Leave No One Behind in their implementation of the Sustainable Development Goals. All people, regardless of their backgrounds, have rights and responsibilities to fulfill their potential in life, including out-ofschool youth.

Tackling the persistent disparities in education participation and promoting education enrollment and quality is also a government strategy to address the challenges to inclusive growth, as highlighted in the 10-point socioeconomic agenda of the Duterte administration: “Invest in human capital development, including health and education systems, and match skills and training to meet the demand of businesses and the private sector.”

Beyond the classroom, opportunities for young people who are not in school are growing. There are now many ways to transition from school or out-of-school to work or even entrepreneurship. Nonformal education should not be seen as an alternative to formal education, but rather recognized for its complementariness in providing a more fully rounded and skills-based approach, to equip young people to meet the demands of the work force. Youth engagement is crucial to bringing about more relevant, equitable and inclusive education.

On August 12, we celebrate International Youth Day. This year’s theme, “Transforming Education,” resonates in the work that the government and UN agencies are doing to make education fit the learner, and not the other way around. To find solutions to ensure that children and young people who have fallen back are not left behind. To give the Radam Jalanis of this country the one thing that could turn their life around: a second chance.

in school-leaving, it is not the foremost reason.

Early marriage and family matters topped the list of reasons, at 37 percent, followed by lack of interest, at 24.7 percent.

It is notable that the proportion of out-of-school children and youth was also higher among females (63.3 percent) than males (36.7 percent), and that for over half of all girls and young women that have had to leave school, early marriage or family matters were the leading causes. In the Bangsamoro Autonomous Region in Muslim Mindanao, which has the highest percentage of out-of-school children and youth in the country, girls have a particularly hard time staying in school. Household chores, and poor menstrual hygiene management, including the lack of appropriate water, sanitation, and hygiene facilities in school, have driven girls to distraction, causing them to miss classes and thereafter to stay away from school.

In order to reduce drop-out rates, it is necessary to curb the high incidence of early pregnancy among young Filipinos. The Department of Education, with support from the UN Population Fund is leading the implementation of an age- and development-appropriate Comprehensive Sexuality Education (CSE) curriculum that will also be implemented in ALS. CSE is a curriculum-based process of teaching and learning about cognitive, emotional, physical, and social aspects of sexuality and reproductive health. It will equip young Filipinos with the correct information and appropriate life skills that would

For questions and comments, please e-mail me at sbmison@gmail.com.

Ola Almgren is the resident coordinator and humanitarian coordinator in the United Nations in the Philippines.

2nd Front Page BusinessMirror

A12 Monday, August 12, 2019

www.businessmirror.com.ph

BCDA backs move to Clark of seat of govt

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By Elijah Felice E. Rosales

@alyasjah

HE Bases Conversion and Development Authority (BCDA) has thrown its support for a Senate bill that will transfer the seat of power to New Clark City, as it will decongest Metro Manila and generate employment opportunities in Central Luzon.

BCDA President and CEO Vivencio B. Dizon said his agency backs Senate Bill (SB) 876—filed

by Sen. Sherwin T. Gatchalian— that intends to transfer the seat of government to New Clark City.

He argued such move will not only decongest the nation’s capital, but also create jobs in Central Luzon and surrounding regions.

Although the transfer should be completed by 2030 under SB 876, Dizon said the program should be implemented the soonest and in phases.

“[The] BCDA supports Senator Gatchalian’s proposal to start the move of government agencies from Metro Manila to New Clark City.

This initiative will not only solve Manila’s congestion problems, but will also create opportunities in Central Luzon and nearby regions,” Dizon said in a statement last Friday.

“This initiative should be done in phases, but it needs to be started now,” he added.

Under SB 876, the National Government Administrative Center (NGAC), situated in New Clark City,

will be the location of the Office of the President, Office of the Vice President and all central offices of national agencies and government owned and controlled corporations.

The Gatchalian bill targets to make the NGAC the permanent seat of the national government by 2030, when all the transfers should be completed.

In pushing for the measure, Gatchalian argued that the move is necessary to relieve Metro Manila of its traffic and population congestion problems.

Citing increasing population in the region, he said the nation’s capital has a population density of 20,875 persons per square kilometer, higher than the population density per square kilometer of Mumbai, Paris and Tokyo.

“Official figures from the Philippine Statistics Authority show that the metropolis had 12.88 million residents in 2015, a figure that has been growing 1.59 percent annually,” Gatchalian said in the explanatory note to SB 876.

See “BCDA,” A2

DBM to submit proposed 2020 200% pay AT PGH, SICK CHILDREN budget to Congress this week for workers’ CAN STILL REMAIN IN Aug. 12 duty SCHOOL VIA ‘SILAHIS’ E

By Bernadette D. Nicolas

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@BNicolasBM

HE Department of Budget and Management (DBM) is targeting to submit the proposed P4.1-trillion national budget for 2020 to Congress by August 16 after the President and his Cabinet approved it last week.

Amid reports that some P35 billion in alleged pork barrel will be included in next year’s budget, the DBM said it is now in the printing stage of the proposed General Appropriations Act (GA A) for 2020.

While the DBM will neither confirm nor deny if it asked lawmakers to submit a list of projects to be included in the President’s budget proposal or the National Expenditure Program (NEP), it vowed to air its side on the matter soon.

“The DBM is still printing the FY 2020 proposed National Budget, after which, we will submit it to the President for his signature, together with his budget message,” the agency said in response to a query sent by the BusinessMirror last Thursday.

“We will submit it to Congress hopefully by August 16. By then,

we shall be ready to explain the salient features and details of the proposed national budget,” the DBM added.

Citing sources, a news report indicated that the list of projects submitted by lawmakers will be included in the President’s budget proposal or the NEP, which t he DBM w i l l submit to t he House of Representatives and the Senate.

According to the same report, P200 million is allocated for each senator, while each congressman will get P100 million.

See “Budget,” A2

MPLOYEES will get twice their pay on Monday (August 12) with the nationwide celebration of Eid’l Adha or Feast of Sacrifice.

The Department of Labor and Employment (DOLE) issued the reminder to employers to implement the special pay rules for the Muslim celebration, which was declared by President Duterte as a regular holiday.

“For work done during the regular holiday, the employee shall be paid 200 percent his/her wage for that day for the first eight hours,” Labor Secretary Silvestre H. Bello III said in an advisory.

In case of overtime, he said they will be entitled to 30 percent of their hourly rate.

Finally, if the holiday also falls on their dayoff, they will get another 30 percent of their basic pay for that day.

Bello said workers, who opt to spend the holiday on vacation will still be entitled to 100 percent of their wage for that day. Eid’l Adha together with Eid al-Fitr are the two most important Muslim religious celebrations each year.

Samuel P. Medenilla SOUTHWEST MONSOON AFFECTING LUZON AND VISAYAS as of 4:00 am - August 11, 2019

Valuation. . .

Continued from A1

Based on a presentation of the DOF on Package 3 dated July 25, the current valuation system uses outdated valuation for governmental purposes, especially for national and local taxation. The LGUs comingle valuation with taxation.

“Only 38.8 percent of LGUs and 50.4 percent of RDOs [revenue district office] have updated values.

Costs incurred, revenues foregone: overvaluation when government pays, undervaluation when government collects,” the DOF said.

The DOF also said there is no one single agency that ensures that valuations are completed in accordance with international standards, which makes it more difficult to set up a comprehensive electronic real property database.

Metro Manila collects a real property tax of 2 percent on assessed value, while LGUs in the provinces slap 1 percent.

According to the DOF, the real property tax collection efficiency recorded in 2016 was at 71 percent for all LGUs, 73 percent for cities, and 68 percent for provinces and municipalities.

The DOF noted that only 38.8 percent of LGUs in the country have updated schedule market values.

In June 2018, there were 93 noncompliant cities and 46 provinces.

Meanwhile, 50.4 percent of RDOs have updated zonal values within the last five years with 65 RDOs still in the process of revising their zonal values.

“There are, of course, areas such as capital gains taxes that would be affected by valuation,” Lambino said.

Capital gains tax is imposed on gains presumed by the seller from the sale or exchange of capital assets, according to the Bureau of Internal Revenue.

“We were told by our colleagues at the DOTr [Department of Transportation] that in some cases, right-of-way challenges in the courts take up to two decades, so the rail system that should have benefited the people is derailed by years and years and then the cost of the property also goes up because overtime the estimates also increase,” Lambino said.

“So there’s a lot of lost opportunities and wasted resources because of the lack of harmony in the valuation system,” he added.

According to the DOF, Package 3 of the CTRP is “revenue neutral” and is similar to Package 4 which aims to harmonize financial laws.

By Claudeth Mocon-Ciriaco Correspondent

E

DUCATION should remain accessible even to sick children.

That is one of the basic values the Philippine General Hospital (PGH), celebrating its 112th anniversary today (August 12), continues to live by.

Being sick does not mean children should be denied education, the PGH’s Deputy Director for Health Operations, Dr. Juliet O. Sio-Aguilar, asserted in a recent interview.

Aguilar, who used to chair the Department of Pediatrics, said that PGH offers a “special” school for children and adolescents receiving treatment at the hospital.

The PGH Silahis ng Kalusugan is keeping alive the dream of patients to stay in school despite their ailments.

The school was founded by Prof. Perla Santos Ocampo in September 23, 1966, and to date, it remains the only one of its kind in the Philippines.

Aguilar said the Silahis ng Kalusugan, a hospital-based school for the chronically-ill, attests to PGH’s commitment to fulfill its mission to provide “comprehensive, people-empowered, accessible child health-care services, especially to the underserved.”

The first classes were held at the far end of the then Ward 12 Pediatrics ward.

There were 11 patients then with diverse illnesses. They all needed instructions in different grade levels.

Eventually, a memorandum of agreement (MOA) was signed with the Department of Education (DepEd), where students at the Silahis ng Kalusugan are enrolled at a nearby elementary or high school while receiving instructions at the PGH. The classes in Silahis ng Kalusugan

are “multigrade” and “multiyear” during every session and examinations are held per grading period. The elementary has enrollees aged seven to 13 years old while the high school students are aged 13 to 17.

Three DepEd teachers and nine volunteer teachers handle not less than 30 students, mostly undergoing treatment for cancer, renal and cardiac diseases and congenital conditions.

“They come to school here, we have two classrooms—one for elementary, one high school...and this is funded by DepEd. They are enrolled here so that even if they get sick their education is not interrupted,” Aguilar told BusinessMirror.

She said some students eventually moved to college after finishing their studies at Silahis ng Kalusugan.

“Actually, there is one who already graduated and is working now as a social worker and [another in the] field of entrepreneurship already,” she proudly said.

The Silahis ng Kalusugan provides multilevel education, bedside instruction and enriching activities for students. Parents and guardians are also involved through the Parent-Teachers Association, which organizes livelihood and activities and recreation for everyone.

Once their medical condition permits, most of the enrolled patients were conferred with a diploma so they can move to a regular school.

In 1994, the Silahis ng Kalusugan received a donation of a one-story building as the number of students increased.

However, the students were later transferred to another facility, as the location of the donated building forced students with immuno-compromised conditions, like cancer, to pass through the general wards, thus increasing the risk of exposure to infections.

The Management and Staff of BusinessMirror

announce with deep sorrow the passing of one of their senior editors,

Efleda P. Campos

on Friday, August 9, 2019, at the age of 66.

She lies in state at Chapel B of Funeraria Paz, Araneta Avenue, Quezon City, until the evening (11p.m.) of Monday, August 12.

Also on Monday, at 8 p.m., Holy Mass will be celebrated at Chapel B. The BusinessMirror family extends deepest sympathies to her children Sandra, Dan Arvin and Bernice, and all those she loved.

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, August 12, 2019

B1

PSALM to 11 electric co-ops: Remit ₧238-M UC collection

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By Rea Cu @ReaCuBM & Manuel T. Cayon @awimailbox

T least P238.3 million in universal charge (UC) collections from consumers was unremitted to the Power Sector Assets and Liabilities Management Corp. (PSALM) by 11 electric cooperatives, the Department of Finance (DOF) has reported.

PSALM has sent out demand letters to these cooperatives, the DOF said in a statement on Sunday.

The letters bore a stern warning that aside from being liable for interest charges, these cooperatives and their officers will face civil, administrative and criminal charges.

“Nonremittance of UC collections to PSALM is fraud perpetrated against the consumers who paid for the UC and against the government that is mandated to use the UC in accordance with Epira [Electric Power Industry Reform Act]. PSALM will continue to relentlessly pursue all efforts to collect what is legally due to it. It will not allow delinquent co-

PSEi retains roster, sector indices undergo minor revamp

ops to get away with illegal use and misappropriation of the UC collections,” said PSALM President and CEO Irene Joy Besido-Garcia.

PSALM reminded delinquent cooperatives that every month of nonremittance of UC is one count of violation of the Epira, which is punishable by fines and penalties of up to P50 million.

In addition, the directors and officers who allowed such violation by the cooperatives may be liable for imprisonment of up to two years and/ or fine of double the amount of the damages caused.

PSALM also stressed that nonremittance of UC is tantamount to

Estafa by misappropriation under the Revised Penal Code, and, thus, punishable by imprisonment of up to 20 years.

5 from Mindanao

Five of the nonremitting electric cooperatives were in Mindanao: Maguindanao Electric Cooperative Inc. (Magelco), under President Saikuna Mamokhan, with unremitted UC collections of at least P26.28 million based only on available reports; Lanao del Sur Electric Cooperative Inc. (Lasureco), under General Manager Nordjiana Ducol, with unremitted UC collections of at least P8.685 million; and Siasi (Sulu) Electric Cooperative (Siaselco), under President Tawita Baridji, with unremitted UC collections of at least P2.764 million; Basilan Electric Cooperative Inc. (Baselco), led by its President Nick Acdalin, with P31.531 million unremitted UC collections; and Cotabato Electric Cooperative Inc.-PPALMA (Cotelco-PPALMA), led by its President Ernesto Mansilla, with P7.428 million unremitted UC collections.

They were among the 11 nonremitting electric cooperatives topbilled by Camarines Sur III Electric Cooperative Inc. (Casureco III) with the highest unremitted UC collec-

tions amounting to P66.281 million.

The demand letter was addressed to Casureco III Chairman Ana Sylvia Alsisto and other officers.

Casureco III was followed by Albay Electric Cooperative Inc. (Aleco) at P40.6 million and Abra Electric Cooperative Inc. (Abreco), at P36.886 million. Other nonremitters: Ticao Electric Cooperative (Tiselco) with unremitted UC collections of at least P9.421 million; Masbate Electric Cooperative Inc. (Maselco) with P4.917 million; and Romblon Electric Cooperative Inc. (Romelco) with P3.456 million.

The UC is a non-bypassable charge collected from electricity consumers on a monthly basis by distribution utilities including cooperatives, for the recovery of Stranded Debts, Stranded Contract Costs of the National Power Corp. and other mandated purposes under the Epira.

The UC collections must be remitted to PSALM as administrator on or before the 15th day of the succeeding month together with the required reports.

The National Electrification Administration (NEA) and the Energy Regulatory Commission (ERC) were also provided copies of PSALM’s demand letters.

AirAsia Philippines ‘in no rush’ to go public

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HE Philippine Stock Exchange (PSE) has announced that the 30-member Philippine Stock Exchange index (PSEi) will remain unchanged based on its regular index composition review covering the trading period July 2018 to June 2019.

“Our periodic review of the PSEi ensures that the index members continue to be the top companies among those that meet the Exchange’s standards on free float level, liquidity and market capitalization. This exercise gives us the most suitable representatives of the Philippine stock market’s main barometer,” PSE President and CEO Ramon S. Monzon said.

The composition of four sector indices—Financials, Holding Firms, Services, and Mining and Oil—will also stay intact. One company, Phinma Energy Corp., will be added to the Industrial Index. The Property Index, on the other hand, will see the addition of DM Wenceslao and Associates Inc., and Sta. Lucia Land Inc. and the removal of Philippine Realty Holdings Corp. In order to be included in the sector indices, the common stocks of the company must meet the float requirement of 15 percent, and rank among the top 50 percent in terms of median daily trade per month in eight out of the 12-month period in review. No market capitalization ranking is required.

The changes in the indices will be implemented on August 19, 2019.

AIRASIA Chief Executive Officer (CEO) Tony Fernandes (center, in black tropical shirt) poses with guests in front of an Airbus 320 after leading the rites unveiling AirAsia’s new livery with the “Sustainable Asean” theme. It was part of the low-cost carrier’s way of celebrating Asean Day.

By Bianca Cuaresma @BcuaresmaBM

A

FTER reports of the budget carrier’s plans to go public by the end of this year, AirAsia Chief Executive Officer (CEO) Tony Fernandes said they are still in a wait-and-see stance as to whether or not to launch their initial public offering (IPO) this year.

“It’s there. We are in no particular rush to be honest. Our business is good. We want to maximize valuation, so you know after a very tough start, our earnings are very strong, fuel price is going down, tourism is going up; we also see potential in new airports being developed. ” Fernandes told Filipino reporters at the sidelines of AirAsia’s Asean Day celebrations in Bangkok, Thailand, where they unveiled a new “Sustain-

able Asean” livery on one Airbus 320.

“So there is no particular rush but we can do it anytime now. So we will just wait and see,” he said.

“All I can tell you from a management point of view [is] we don’t need to do it, but I’ll leave that to the experts,” he added.

Reports show that AirAsia’s initial plan is to raise about $200 million for its IPO in the Philippines. The budget carrier—which operates mainly in the Association of South East Asian Nations (Asean) region—is already listed on three bourses— Malaysia, Indonesia and Thailand.

Its plan to be listed in the Philippine stock market was bared in 2016. AirAsia holds an 18-percent market share in the Philippines as of the first quarter of 2019. Its earnings before interest, tax, depreciation and amortization (Ebitda) in the

Philippines grew significantly by 233 percent to P1.5 billion; and profit after tax was reported as having increased by 12 percent due to outstanding revenue growth and additional capacity.

At the post-event press conference in Bangkok, Fernandes reiterated their push to lower taxes and fees on international flights, as the rationale of some of these extra costs is already “outdated.”

In particular, AirAsia is pushing for Airport Terminal Fees—which range from P550 to P850 for international flights depending on the airports—to be slashed in half.

As for the Philippine Travel Tax, AirAsia wants it abolished altogether. For Filipinos traveling internationally, a P1,620 travel tax is imposed by the Philippine government as provided for by Presidential Decree (PD) 1183—decree issued by then-President Ferdinand Marcos.

Cebu Pacific mounts three new routes from Clark

CEBU Pacific President and CEO Lance Gokongwei gives a token Cebu Pacific airplane token to Transportation Secretary Arthur P. Tugade at the end of the formal launching of the leading lowcost carrier’s new flights out of Clark. ASHLEY MANABAT

By Ashley Manabat Correspondent

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L A R K FR EEPORT—T he Philippines’s leading carrier, Cebu Pacific (CEB), mounted three more flights from the Diosdado Macapagal International Airport (DMIA) here on Friday.

Lance Gokongwei, CEB president and CEO, announced the beginning of flights to Iloilo, Bacolod and Narita in Tokyo, Japan, at the Marriott Hotel here shortly after CEB’s maiden flight to Narita took off at the nearby DMIA with a full passenger capacity.

He said by December, CEB will be mounting the Clark-Puerto Princesa route, making it the largest airline operator out of Clark with seven domestic and four international destinations.

CEB, which started operations here in 2006, continues to stimulate growth in North and Central Luzon.

With the expansion of its route network in the Clark hub, CEB will become the largest carrier in Clark in terms of capacity by end-2019, capturing 28 percent of the total number of seats offered by all carriers operating in Clark.

Flights from Clark to Bacolod and Iloilo run daily, while direct service to and from Narita is scheduled four times weekly (Monday, Wednesday, Friday, Sunday). The carrier also earlier announced that it will begin flying daily between Clark and Puerto Princesa in Palawan by the fourth quarter of 2019.

These four new routes will boost CEB’s total capacity in Clark by 40 percent in 2019 alone, following a 75-percent increase in 2018 with the launch of direct commercial air service to and from Davao and Panglao (Bohol); as well as additional frequency for the ClarkMacau route.

We’re developing hubs—Gokongwei

“THE opening of these new routes is a testament of how committed we are to continuously develop this hub— we are not only establishing seamless interisland connections, but also opening up North Luzon to more potential entrepreneurs, both local and foreign, furthering tourism, trade and investment opportunities in Clark and its surrounding areas,” said Gokongwei. CEB flies to four other domestic destinations (Cebu, Caticlan, Tagbilaran and Davao); and three other international destinations (Singapore, Macau and Hong Kong) to and from Clark. “As we aim to fly 200 million passengers by 2020; and 300 million by 2022, trust that we have been and will always keep our customers at the heart of the business,” said Gokongwei.

“Rest assured, we will continue to cater to the growing travel demand by enabling more ‘Juans’ to travel conveniently and affordably through our year-round low fares,” he added.

Also present at the formal launching of the three routes were Transportation Secretary Arthur P. Tugade, Mabalacat City Mayor Crisostomo C. Garbo, as well as representatives of other LGUs and officials of Cebu Pacific.

60 planes expected

MEANWHILE, the airline expects to receive over 60 aircraft in the next eight years, guaranteeing an even greater growth in and out of the Philippines.

Aside from Clark, CEB operates flights out of six other strategically placed hubs in the Philippines: Manila, Kalibo, Iloilo, Cebu, Cagayan de Oro (Laguindingan) and Davao.

CEB operates over 2,000 weekly flights across 37 domestic and 26 international destinations.

B2

Companies BusinessMirror

Monday, August 12, 2019

MUTUAL FUNDS

August 9, 2019

Cusi tells NPC to stop generation rate increase in off-grid islands

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 261.08 -1.93% -1.85% 0.59% 3.52% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6229 8.42% 4.66% 2.54% 12.64% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0872 -2.83% -2.54% -0.32% 4.72% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9533 2.22% N.A. N.A. 5.8% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8677 -0.29% N.A. N.A. 5.73% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4365 -1.18% -0.94% 0.66% 3.09% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8733 -2.51% -5.28% N.A. 4.37% MBG EQUITY INVESTMENT FUND, INC. -A 119.77 9.01% N.A. N.A. 3.1% PAMI EQUITY INDEX FUND, INC. -A 52.1262 0.53% -0.81% N.A. 5.9% PHILAM STRATEGIC GROWTH FUND, INC. -A 545.49 1.24% -1.6% 0.62% 5.97% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3222 2.38% -0.18% 2.17% 5.44% PHILEQUITY FUND, INC. -A 38.7543 2.34% 0.58% 2.11% 5.79% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0344 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2911 1.38% 0.17% 2.62% 6.7% PHILIPPINE STOCK INDEX FUND CORP. -A 883.63 1.45% -0.12% 2.59% 6.66% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9315 4.42% -0.5% N.A. 8.31% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3445 2.52% 0.27% 2.22% 7.04% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0154 1.01% -0.17% N.A. 6.4% UNITED FUND, INC. -A 3.7261 1.2% 1.44% 2.98% 6.44% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 118.342 1.87% 0.72% 3.64% 6.86% Instead, Cusi said, the NPC ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9223 -11.17% 1.49% -1.95% -0.73% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2616 -2.78% 6.69% N.A. 14.15% should find ways to reduce misBALANCED FUNDS sionary subsidies by improving PRIMARILY INVESTED IN PESO SECURITIES operational efficiency.

ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7297 1.23% -2.32% -1.5% 4.75% Cusi gave the directive to NPC ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3322 0.66% -1.09% 0.69% 5.57% President Pio J. Benavidez after FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.665 0.54% -0.45% -1.16% 4.79% GREPALIFE BALANCED FUND CORPORATION -A 1.3505 -0.71% N.A. N.A. 3.54% the corporation petitioned the NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9569 3.81% 0.08% 1.45% 6.17% Energy Regulatory Commission PAMI HORIZON FUND, INC. -A 3.8089 3.82% -0.99% 0.85% 7.92% (ERC) to increase missionar y PHILAM FUND, INC. -A 17.08 4.34% -0.88% 0.77% 7.37% generation charges in the offSOLIDARITAS FUND, INC. -A 2.1497 0.98% 0.03% 1.73% 3.89% grid islands. The increase would SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9147 4.26% -0.05% 1.61% 7.21% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0259 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0155 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0121 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0049 5.4% 0.29% 1.48% 9.03% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03824 8.54% 1.97% 2.58% 8.33% PAMI ASIA BALANCED FUND, INC. -A $0.9573 -4.77% 0.97% -1.68% 4.77% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7047 0.84% 4.91% 2.9% 11.97% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.11 3.49% 3.34% N.A. 9.9% BOND FUNDS OYAGER Innovations Inc. is PRIMARILY INVESTED IN PESO SECURITIES readying for a fresh round ALFM PESO BOND FUND, INC. -A 352.92 3.77% 2.18% 2.32% 2.75% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9084 2.51% 0.09% 0.07% 2.65% of funding toward the end COCOLIFE FIXED INCOME FUND, INC. -A 3.0611 5.14% 5.23% 5.23% 2.86% of 2019, as it gears up for its “next EKKLESIA MUTUAL FUND INC. -A 2.2174 4.56% 1.3% 2.19% 4.14% phase of expansion,” a ranking ofFIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3467 5.84% 1.42% 1.66% 6.42% ficial from its majority stakeholder GREPALIFE FIXED INCOME FUND CORP. -A P 1.6078 1.62% -1.91% 0.13% 2.77% said in a recent interview.

PHILAM BOND FUND, INC. -A 4.2989 9% 0.36% 1.89% 9.67% PHILEQUITY PESO BOND FUND, INC. -A 3.7236 6.71% 0.74% 1.62% 5.87% Manuel V. Pangilinan, who SOLDIVO BOND FUND, INC. -A 0.9533 5.72% -0.36% N.A. 6.97% chairs PLDT Inc., said in a chance SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0215 9.25% 1.41% 2.57% 9.25% interview that his group “is preSUN LIFE PROSPERITY GS FUND, INC. -A 1.6779 9.32% 0.98% 2.12% 8.96% paring” Voyager for a new round PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES of funding that will bankroll the ALFM DOLLAR BOND FUND, INC. -A $461.64 4% 1.73% 2.81% 2.95% ALFM EURO BOND FUND, INC. -A Є219.59 2.79% 1.35% 1.58% 3.25% digital innovator’s programs next ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.191 6.62% 1.92% 2.53% 5.8% year and beyond.

FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 4.03% 0.92% N.A. 4.03% “It’s fair to state that most GREPALIFE DOLLAR BOND FUND CORP. -A $1.7158 1.07% -2.06% 0.59% 1.51% likely there’ll be a new round of PAMI GLOBAL BOND FUND, INC -A $1.0978 6.1% -0.28% -1.63% 5.93% funding that Voyager will receive PHILAM DOLLAR BOND FUND, INC. -A $2.3876 9.87% 1.25% 3.62% 9.99% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0598018 5.34% 1.7% 1.97% 4.92% toward the end of this year, and SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1424 8.71% 0.69% 3.15% 9.41% that will be up for discussion with MONEY MARKET FUNDS the partners,” he said.

PRIMARILY INVESTED IN PESO SECURITIES Just this year, Voyager, which ALFM MONEY MARKET FUND, INC. -A 124.25 4.02% 2.58% 2.04% 2.79% is the holding company for various FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0194 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2361 5.45% 2.31% 1.41% 4.59% digital services that are focused SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2501 3.89% 2.74% 2.12% 2.53% on financial technology, got the PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES nod of global investors Tencent SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0303 2.19% N.A. N.A. 1.42%

E

NERGY Secretary Alfonso G. Cusi has ordered the National Power Corp. (NPC) to hold its plan to increase generation charges in missionary and off-grid islands of the country by passing on to poor consumers the excise taxes and added fuel costs.

result in poorer consumers in offgrid islands paying much more in generation charges than Metro Manila consumers.

The corporation had filed an application with the ERC to increase the missionary generation charge in off-grid communities

by P2.9140 per kilowatt hour in Luzon, P3.4034 per kWh in the Visayas and P3.4515 per kWh in

Mindanao. This would raise the generation charge by more than 50 percent to P8.5544 per kWh. In his memorandum to Benavidez, however, Cusi expressed serious concern that the generation charge of P8.5544 per kWh sought by the NPC—compared to the P5.25 charge in Manila—would bring a heavy burden to Filipino consumers in the poorer, off-grid islands. This, he said, is contrary to the government’s mandate to keep power rates affordable under the Electric Power Industry Reform Act (Epira) of 2001.

He further directed the NPC to reduce missionary subsidies instead of passing on to these poorer areas the costs of excise taxes and fuel, and other costs that will lead to a 51-percent increase in their generation rate.

The NPC had applied to pass on to consumers the added excise taxes on fuel being used to generate power in off-grid islands (P1.9648 per kWh). This is on top of its pre-

Voyager gears up for new funding round for next-phase expansion

V

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 LAUNCH DATE IS JANUARY 3, 2019.

4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

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Holdings Ltd., KKR, World Bank’s International Finance Corp. (IFC) and IFC Emerging Asia Fund, raising a total of $215 million in fresh capital, the largest private fund-raising to date in a Filipino tech company.

PLDT remained as the single largest investor in Voyager.

“We want to prepare them for the next round of funding beyond 2019. Management will be comfortable that they will be funded for their next phase of expansion,” he said.

The prospects this year are better for Voyager, which posted a P3billion net loss in 2018. In the first

half of the year, Voyager just posted a net loss of roughly P600 million, which is common for tech start-ups of its scale and magnitude.

Pangilinan said his group had chosen a “good ” president for Voyager in the form of finance executive Shailesh Baidwan, who is expected to “shape the company’s strategy and business direction” moving forward. Lorenz S. Marasigan

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices fell last week with the main index returning to the 7,000-point level after a selloff at the beginning of the week. Prices failed to recover with small gains.

The benchmark Philippine Stock Exchange index (PSEi) fell 92.49 points to close at 7,920.93 points. The index was down 2 percent at the start of the week and half a percent by the middle of the week, while its little gains in between days failed to lift the market.

“This could have been a late reaction to the inverted yield curve in US treasury bonds that happened the week before. It is a very good sign that the main index was able to end the week above the 7,900-support level despite the big drop we had this week,” said Christopher Mangun, research head at Eagle Equities Inc. Trading volume was thin all throughout the week, reaching an average of P5.05 billion, the lowest for the year, but foreign investors were net buyers at P3.64 billion.

All other subindices ended lower with the exception of the Property index that gained a measly 4.07 points to 4,115.57 points. The broader All Shares index was down 49.14 to 4,864.17; the Financials index shed 26.76 to 1,762.71; the Industrial index was down 17.03 to 11,720.35; the Holding Firms index fell 207.68 to 7,736.37; the Services index lost 0.37 to 1,608.34; and the Mining and Oil index plunged 408.83 to 7,930.78.

Losers edged gainers 141 to 83, and 27 shares were unchanged.

Top gainers for the week were SOC Resources Inc., Keppel Philippines Properties Inc., Benguet Corp. B, Grand Plaza Hotel Corp., PTFC Redevelopment Corp. and Concrete Aggregates Corp. B. Top losers were Xurpas Inc., Premiere Hotel Alliance Corp., PXP Energy Corp., Philippine Infradev Holdings Inc., Easycall Communications Philippines Inc. and GT Capital Holdings Inc.

THIS WEEK

SHARE prices may go sideways this week as investors will watch key economic figures, such as the inflation rate for March, with many companies preparing for the tax-remittance season.

“Specific interest would still be kindled for large caps slated to go on with the cash dividend that include PLDT Inc., San Miguel Corp., Pilipinas Shell, Phoenix Petroleum and GT Capital Holdings Inc.,” online broker 2TradeAsia said.

“Spot for good entry levels during lulls by checking on stocks with commendable upside potential,” it said, adding that immediate support for the main index is seen at 7,800 and resistance at 8,000 points.

Mangun, meanwhile, said the main index may again try to break the 8,000-point level this week. “Once it breaks above 8,000, the next target will be 8,140 and if that is breached, we may see it rally to 9,000. Investor sentiment will improve dramatically once it breaks above these key levels,” he said.

STOCK PICKS

BROKER Regina Capital and Development advised investors to trade the range on the stock of BDO Unibank Inc. as its price is still positioned below its 50-day moving average at P133.26 per share. “Its indicators are showing mixed signals, but because of the range forming, its momentum has flattened,” it said, giving a P134 target price.

BDO shares closed Friday at P133.80.

Meanwhile, the broker gave a “sell during rally” recommendation on the stock of Alliance Global Group Inc. after its share price was at the top end of the range even after it broke out its resistance level of P16.30 per share.

“The three-day streak of gains has strengthened the previously tapering buying momentum,” it said on the holding firm of businessman Andrew Tan, giving a weekly target on the stock at P16 per share.

AGI shares closed last week at P16.16 apiece. VG Cabuag

vious application for an increase of P0.9492 per kWh, bringing the total increase to P2.9140 per kWh. The NPC is the administrator of the missionary subsidies provided by the government to consumers through the local electric cooperatives. Under the Epira, the NPC can cover its missionary subsidies by charging the consumers in those areas a missionary generation rate called the subsidized approved generation rate (SAGR), with the remainder, likewise, passed on as the universal charge for missionary electrification.

In addition, Cusi said in his memorandum that “the DOE, in turn, will review the power-supply contracts of existing private power generators to identify and possibly eliminate onerous provisions.”

The NPC was asked to submit all existing contracts at the soonest possible time, and was given 30 days to submit its action plan on the matter.

DNL may tap the debt market to finance next projects

C

HEMIC A L f i r m D a nd L Industries Inc. (DNL) may tap the debt market to fund its P8-billion expansion facility in Batangas, but the company is waiting for interest rates to go down before it borrows.

Alvin Lao, the company’s president, said the company has spent only more than P1 billion for its new facility and another P6 billion to P7 billion remains to spent.

“Part of it will be internally generated, but a big chunk of it will be borrowings. We wait for the rate to go down and decide if it will be long-term fixed or just a short term,” Lao said.

He explained interest rates around the region are lower compared with the Philippines.

In Malaysia, for instance, interest rates hover around 4 percent compared with the Philippines at about 6 percent.

“It’s hard to pinpoint now how much we are going to borrow. So it could be zero to P6 billion,” he said.

Lao explained if commodity prices remained steady, and with its cash flow of about P4.5 billion, there may be a chance that the company may not tap the debt market at all.

DNL’s new facility will be located on a 26-hectare property in First Industrial Township-Special Economic Zone in Tanauan, Batangas.

The company is building two new plants—one for food ingredients, under D and L Premium Foods Corp., and an integrated facility to manufacture oleochemicals and downstream packaging, under Natura Aeropack Corp.

DNL said its net income declined 7 percent during the first half of the year ending June to P1.41 billion from last year’s P1.52 billion, mainly as a result of the ongoing trade war between China and the US—which dampened demand from the industries that it caters to—and the higher inflation rate of the country that spilled over in the second quarter.

Lao said the company’s profit slowdown may decline to a singledigit rate by the end of the year, or as much as 2 percent, as it is optimistic of the long-term prospects on the country’s economy. VG Cabuag

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Banking&Finance BusinessMirror

Dominguez to Congress: Pass ‘sin’ tax hike first as ‘UHC train leaving’ T

Monday, August 12, 2019

B3

LandBank gives cash payouts to survivors of Batanes quake

F

INANCE Secretary Carlos G. Dominguez III is lobbying Congress to first pass the set of laws focusing on taxation for alcoholic beverages and electronic cigarettes (e-cigarettes) of the remaining tax reform packages to fund the implementation of the Universal Health Care (UHC) law.

“For me, I want to get the ones that have revenue impact out of the way because the revenues measures we have here are to primarily fund the UHC,” Dominguez said in a news briefing. “And UHC is not going to wait; so you might as well get that going first. Where there’s a significant impact on the revenue.”

According to Dominguez, Package 2 Plus is the only remaining package under the Comprehensive Tax Reform Program (CTRP) that will help increase government revenues. He said Package 2, which aims to lower corporate income tax rates, Package 3 (property valuation) and Package 4 (on financial taxes and passive income) are all revenue neutral.

“The other measures are not revenue measures. For instance, the valuation, even the passive income tax, is not really a revenue measure; it’s just to clean up the system,” Dominguez added. “I’m not saying it’s not important. But let’s get the revenue measures down because [for] UHC, the train is leaving. So you might as well make sure it has enough gas.”

According to Finance Assistant Secretary Ma. Teresa S. Habitan, the revenue estimates for alcopops alone is estimated to reach P33.3 billion under the DOF version of Package 2 Plus.

Alcopops are classified as flavored alcoholic beverages with relatively low alcohol content which also includes malt beverages wherein fruit juices or flavorings have been added.

“Our latest, as of August 1, for 2020 for alcopops, [it’s] P33.3 billion additional [revenues],” Habitan said. “Right now, they are taxed same as distilled spirits but their alcohol content is similar to beer so we want them to be taxed same as beer or fermented liquor.”

She explained that under the Package 2 Plus version passed during the 17th Congress, excise taxes on alcoholic beverages alone are estimated to reach P14.5 billion for 2020 as opposed to the DOF version of the proposal of around P40 billion. Habitan said these are only initial estimates.

“It’s [revenue figures] moving. For the

Citira [Corporate Income Tax and Incentives Reform Act], that’s neutral; similar with valuation reform and passive income. For the passive income, probably a small gain depending on how the final package comes out,” she added. “Now, for the alcohol [Package 2 Plus] this is still being refined, so the HOR [House of Representatives] version that is the one that was approved before for the 17th Congress, the total impact is, for example, for 2020 that is P16.2 billion, the DOF proposal on the other hand is P72.4 billion.”

Last month, the DOF called on the 18th Congress to pass this year a measure that will increase taxes on alcohol products to at least P40 per liter and further raise taxes on heated tobacco and vapor products.

Dominguez said the new measure will help boost funds for the government’s UHC program while curbing smoking, binge drinking and other vices, especially among the youth.

The finance chief noted that from 2020 to 2024, all current sources of government funding can cover UHC at around P200 billion annually.

The cost of the program will start at P257 billion in 2020, and increase by an average of around P11 billion to P12 billion a year. Funding will amount to a total

Perspectives Mobilizing green capital for sustainable energy

S

UCCESS in meeting the Paris Climate goals and reducing societies’ carbon footprint depends on mobilizing additional private finance and increasing innovation in sustainable energy technologies. Energy demand is expected to increase 60 percent by 2040, and 85 percent will be from developing countries.

Clearly, the current range of technology solutions available for wind, solar and biomass needs to be complemented with new solutions in areas, such as storage, carbon capture and hydrogen.

Greater efforts are required to support increased energy efficiency that can be adapted to developing and developed economies alike.

Economies in the developing world face twin challenges: the outsized impact of climate events on their populations, and the greater policy uncertainty surrounding regulation and the macroeconomic environment that undermine access to long-term private capital. This makes mobilizing green capital for sustainable energy technologies in low-income economies a challenge.

Is it all about the money?

THE starting point should be a recognition that the costs of not adapting to the climate change are high.

We are already seeing the impact on agriculture, health and economic development in emerging countries. Recurrent headlines highlight the devastating social impact of climate events and the enormous costs of disaster relief and rebuilding communities. In addition, developing economies have large unmet energy needs that add further layers of complexity and vulnerability: 1.2 billion people globally are without access to electricity.

Against this background of urgent needs, it is noteworthy that there is no shortage of available capital worldwide seeking long-term investment opportunities. Capital in pension funds insurance firms, sovereign wealth funds and capital markets totals in the trillions of dollars. Already, private capital flows to the developing world average roughly $1 trillion per year from direct investment, loans and portfolio investment, not to mention large transfers of remittances from residents in developed economies to their families overseas.

At issue is how to tap these resources for greater social purposes, like innovation in sustainable energy, particularly given the perceived level of risk.

Making the shift to green capital

TO create low-carbon economies, we have to address the barriers that inhibit greater technological innovation and limit its adoption in middle- and low-income countries. In the following pages are three key areas that, if targeted appropriately, offer great potential to expand private investment and accelerate the climate agenda.

Policy environment

ATTRACTING private capital requires an investment-ready policy environment.

This is a complex issue since the innovations in renewable energy cut across a range of new and disruptive technologies. Policies will need to address the infrastructure for off-grid, “payas-you go” distribution networks, mobile telecommunications for tracking usage and billing, blockchain and artificial intelligence to optimize energy delivery and biotechnology, among other new sources of energy.

Developing economies have the potential to leapfrog existing technologies and move to new business models that offer wider, more equitable access to sustainable energy.

Making this leap requires investment-ready policies. These policies include establishing the institutions and rules for property and land ownership and the legal structures that enable assets to be used as collateral. Sound regulation is needed to make capital markets transparent and reliable as a means to raise local currency finance and offer “exits” for investors at different stages of the investment cycle. In addition, improved training and education are essential to create a technology-literate workforce.

A first step for policy-makers is to review successful practices from other countries on topics, such as feed-in-tariffs for renewables, the effective use of power purchase agreements, design of competitive models for service provision and the use of capital market instruments to fund renewables. There is also a role for multilateral development agencies to support these policies and build capacity among the new regulatory and oversight institutions.

Blended finance and overcoming the innovation deficit

EVEN in the best policy environment, however, there are inherent technology and commercialization risks that can inhibit innovation. Innovators must bear these “first-mover” risks, in the hope of making profits, if these are to be overcome. In most developing economies, this type of risk-taking is constrained by insecure property rights and the limited role of early-stage risk capital or robust capital markets to provide equity for growth.

One approach to reduce the innovation deficit is to blend private and public capital. A blended finance approach uses public-sector resources— whether from international donor agencies, multilateral banks or national entities—to finance riskier mezzanine tranches that can catalyze additional private investment.

When designed properly, this approach can ensure adequate longer-term finance for bankable projects, create an arm’s length relationship with investees for the public sector, protect intellectual property and successfully leverage private capital. An example of a blended-finance structure is the Sustainable Energy Innovation Fund currently being developed by KPMG and the World Economic Forum.

The development of early stage funding should not be viewed in isolation of the entire financing ecosystem. Additional sources of equity finance, mezzanine debt and long-term debt are needed to meet the needs of firms throughout their growth cycle. The innovations in the green bond market and the establishment of green banks show promise that lifecycle funding will be available as the sustainable energy markets mature.

The excerpt was taken from the KPMG article “Frontiers in Finance Issue #59: Work force-shaping.” © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

of P1.44 trillion by 2024.

Without a substantial adjustment to the current sin taxes, the cumulative funding gap for the UHC will reach P426 billion by 2024.

This is why raising excise taxes on tobacco products, Dominguez said, is a major step in ensuring that the UHC program is properly implemented.

Last month, President Duterte signed into law the Republic Act 11346 increasing further excise taxes on tobacco products, as well as introducing taxes on ecigarettes.

The new law increases the excise tax on cigarettes from the current P35 per pack to P45, starting January 1 next year, followed by a P5 increase every year until the rate reaches P60 in 2023. The rate will then be increased by 5 percent every year starting 2024.

It also imposes a new tax on electronic cigarettes (e-cigarettes), including heated tobacco and vapor products, with a minimum P10 excise tax for zero milliliter to 10 ml of liquid solution or gel starting January 1, 2020.

Every 10.01-20 ml is taxed P20; 20.0130 ml, P30; 30.01-40 ml, P40; 40.01-50 ml, P50; and for more than 50 ml, P50 plus P10 for every additional 10 ml. Starting January 1, 2021, the rate will be increased by 5 percent every year. Rea Cu

HE Land Bank of the Philippines (LandBank) has announced it gave cash payouts to survivors of the earthquake in Batanes.

In a statement, LandBank said it released on August 1 cash payouts to 223 out of the 270 beneficiaries of the unconditional cash transfer (UCT) program of the Department of Social Welfare and Development (DSWD) in the Municipality of Itbayat, Batanes. The bank that Duterte threatened to abolish during his recent State of the Nation Address gave the cash five days after the province was hit by earthquake.

LandBank said on the same day, its Basco Branch Head Maria Victoria P. Roberto also turned over to Itbayat Mayor Raul M. de Sagon P100,000 as the bank’s financial assistance to the local government unit.

A total of P535,200 were distributed to 223 confirmed and validated UCT beneficiaries who each received P2,400 in cash. All of the beneficiaries were farmers and fishers, and a number were senior citizens, with one as old as 100 years old. Others were bedridden and needed to be serviced by the bank inside the evacuation site, LandBank said.

The UCT program is the tax subsidy provided under the Tax Reform for Acceleration and Inclusion (TRAIN) law to help the poor who will not directly benefit from the lowering of personal income tax but will be affected by the moderate increase in prices due to the higher oil excise tax, introduction of the sugar-sweetened beverage tax and the expansion of the value-added tax base.

It is considered to be the biggest tax reform mitigation program under the TRAIN law which seeks to provide 10 million beneficiaries with cash subsidies amounting to P200 a month for 2018, and P300 a month for 2019 and 2020.

LandBank has been designated as the government’s conduit for the payouts to the UCT program beneficiaries, of which a considerable number are farmers and fishers.

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Banking&Finance BusinessMirror

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CBs cry for budget help, but only some are getting it

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S they look to ease monetary policy, central bankers are also singing from the same song sheet when it comes to government support for their economies. They want more of it.

With the global growth outlook darkened by trade wars and borrowing costs already low, central banks say they can’t dispel the clouds on their own. From Federal Reserve Chairman Jerome Powell to European Central Bank President Mario Draghi, the demands are mounting for governments to loosen their budgets if the slowdown takes hold.

Markets are flashing a green light. It’s rarely been cheaper for governments to borrow—in many cases, investors end up paying them, since yields are negative. All kinds of economists, including the ones at the International Monetary Fund (IMF), agree that fiscal support is probably the way forward.

The questions are: which finance ministries have room to help and which are listening?

It’s harder to track fiscal stimulus than the monetary kind. There are more instruments, with taxes and spending split across national or local levels that are hard to con-

dense into a single number. (And different calculations can produce different results— here, IMF numbers are used throughout).

The greater complexity is one reason why fiscal policy, while critical to understanding the economic outlook, gets less attention than central banks.

Following is an overview of the fiscal state of play in the world’s most important economies—what governments are doing, and what they’re talking about doing.

US: Loose—but gridlocked? n 2018 Budget Balance: -4.3 percent of GDP (deficit) n 2019 Forecast: -4.6 percent THE US has been loosening fiscal policy under President Donald J. Trump. His combination of tax cuts and higher spending is unorthodox in an economy that’s been expanding for a decade.

It did deliver a bump in growth last year, which is now fading. It also left the US looking a bit like Japan a few years earlier—with

a deficit above 4 percent of GDP and forecast to stay there for a decade.

Markets seem to be fine with the Trump stimulus. The president’s problem is that he has no easy way to repeat the trick. His Republican Party lost control of Congress, and, therefore, the purse strings, as of this year.

America has a debt ceiling that has to be increased before spending can rise, and there’s usually a political row. The latest one just got resolved, in a deal that suspends the ceiling for two years and edges spending higher. But there’s little incentive for Democrats, who want to beat Trump in next year’s presidential election, to juice the economy in ways that might help him.

Eurozone: Germany says ‘Nein’ n 2018 Balance: -0.6 percent (deficit) n 2019 Forecast: -1 percent BUDGET politics in the euro area make the American debate look friendly.

Europe is hobbled before it comes to the fiscal starting line, because there’s no authority parallel to the European Central Bank that can tax and spend on the continent’s behalf—while individual members lack the flexibility that comes with printing your own currency. Plus, the most powerful country, Germany, is obsessed with balanced budgets.

It’s at the national level that budgets get decided, though the EU’s central authorities can intervene to cap deficits. Out of the three biggest Euro economies, one is injecting stimulus; one wouldn’t dream of it; and one is desperate to do so, but has been told it’s not allowed.

France: Yellow-vest boost n 2018 Balance: -2.6 percent (deficit) n 2019 Forecast: -3.3 percent PRESIDENT Emmanuel Macron’s tax cuts in response to the Yellow Vest protests are lifting the economy just as the euro area slumps. They’ll amount to a stimulus of around 17 billion euros, or 0.5 percent of GDP. That’s on top of a one-off boost for businesses this year from changes in tax credits.

France isn’t the obvious candidate for belt-loosening in the euro area. With debt already near 100 percent of GDP, the national auditor has warned that Macron’s largesse has derailed efforts to repair the public finances from the last global crisis, and won’t leave much room if there’s another one.

France plans to resume tightening next year, with spending cuts and the removal of corporate tax breaks, to get the deficit down to 2.1 percent of GDP. It’s hoping Germany will pick up the baton of fiscal stimulus, and has proposed a deal along those

lines known as the “growth contract.”

So far, Berlin hasn’t responded.

Germany: Balancing act n 2018 Balance: +1.7 percent (surplus) n 2019 Forecast: +1.1 percent THE German government’s own numbers show the budget in perfect balance for a sixth straight year—as it’s constitutionally required to be, outside of recessions. (The IMF calculates that it’s actually in surplus.)

Zero deficits have been a hallmark of Chancellor Angela Merkel’s government, and not one that’s likely to be abandoned easily, even as economic sentiment at home worsens and external pressure grows. When analysts calculate which countries have “fiscal space,’’ Germany is usually top of the list—and it’s likely the main target of ECB Chief Mario Draghi’s increasingly loud demands for some spending support.

But the government brushes off such calls. The public argument is that current economic problems aren’t too severe yet, and are global in nature anyway. Behind the scenes, finance ministry officials are wary that a deep slowdown could be on the way—and their mantra is that Germany needs to keep its fiscal powder dry so it can pull itself, and maybe all of Europe, out of a recession.

Italy: Battling Brussels n 2018 Balance: -2.1 percent (deficit) n 2019 Forecast: -2.7 percent ITALY, with a long-stagnant economy, wants to kick-start growth by widening its deficit, but it’s run up against EU rules.

Twice in six months, it’s had to compromise over budget targets to avoid giant fines.

The populist government in Rome may yet have some cards to play, though. It’s seeking to avoid implementing an already legislated sales-tax increase next year, while speeding up cuts in income and corporate tax rates—and leaving income-support and early-retirement programs intact.

To avoid another blowup with Brussels, the government may have to consider taking away a host of tax breaks enjoyed by various groups, which won’t make voters happy. And it has a couple of other avenues for raising revenue—like squeezing more dividend payments out of state-owned companies, and extending a crackdown on evasion that has already netted settlements from UBS and the Gucci fashion empire.

Japan: Taxing Time n 2018 Balance: -3.2 percent (deficit) n 2019 Forecast: -2.8 percent JAPAN has a big budget landmark coming up: a proposed increase in the sales tax in October. It’s been in the pipeline for a long time, and the government says

it’s essential to trim the world’s biggest national debt.

But as the date nears, some policy-makers are getting edgy. They’re arguing that Japan has got burned this way before—by withdrawing fiscal stimulus too soon, with tax increases that tipped the economy back into recession. Some lawmakers want a spending boost alongside the tax, to make sure that doesn’t happen again.

Japan has been tightening policy after running some of the world’s biggest budget deficits in the five years after the financial crisis—averaging almost 9 percent of GDP. It’s often cited by Modern Monetary Theory, an economic school which backs active use of fiscal policy, to show that deficit-spending needn’t trigger inflation or scare bond vigilantes. Now Japan is having a lively domestic debate about MMT, whose advocates say the sales-tax increase is a mistake.

UK: Austerity over? n 2018 Balance: -1.4 percent (deficit) n 2019 Forecast: -1.3 percent BRITAIN has spent the years since the financial crisis bringing down the biggest budget deficit in peacetime history. It stood at 10 percent of GDP when the Conservatives took office in 2010; last year it fell to little more than 1 percent, the lowest for 17 years.

New Prime Minister Boris Johnson and his chancellor, Sajid Javid, appear intent on throwing off the shackles with promises of income-tax cuts and money for health, education and policing. It’s part of what the government calls economic “boosterism” as it prepares for Brexit on October 31 and even a possible general election. Johnson’s tax cuts could lift GDP by 0.3 percent but the benefits would be dwarfed by a no-deal Brexit, according to Bloomberg Economics.

China: Quietly loosening n 2018 Balance: 4.2 percent (deficit) n 2019 Forecast: 4.5 percent CHINA has stepped up its use of fiscal firepower this year, rolling out tax cuts estimated to be worth 2 trillion yuan ($280 billion).

At about 4.5 percent of GDP, the official deficit covers only part of the governmentled expenditure planned for 2019. When off-balance-sheet spending is taken into consideration, the actual deficit forecast widens to at least 6.2 percent of GDP. The whole system in China is different, though. The central bank has few claims to independence, and the government officials who control policy can boost the economy by pumping loans into chosen sectors, as well as direct spending. (They also might face pressure to rein that credit in). So the fiscal numbers only capture part of what the government’s doing to stimulate or cool the economy. Bloomberg News

Security Bank in deal with Thailand’s Krungsri

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ECURITY Bank Corp. (SBC) announced recently its strategic partnership with Thailand’s Bank of Ayudhya (SET: BAY), commonly known as Krungsri.

Upon closing of the transaction after all regulatory approvals are obtained, Krungsri or its subsidiaries will acquire a 50-percent stake in SB Finance Co. Inc. (SBF), SBC’s consumer finance subsidiary.

The partnership will see the two banks working together to provide top-notch consumer finance products to more Filipinos. The joint venture strengthens the relationship between the two institutions which have MUFG Bank Ltd. as a common shareholder.

SBF is expected to grow its loan portfolio and loan products suite as the collaboration builds on the strengths of Security Bank in the country’s unsecured personal loan segment, while leveraging on Krungsri’s expertise in the Asean retail finance market, being the No. 1 consumer finance provider in Thailand, with presence in Lao PDR, Cambodia and Myanmar.

Security Bank President and CEO Sanjiv Vohra said, “SBC and Krungsri are both committed to accelerating customer-centricity in banking. By localizing the strategies that propelled Krungsri to become Thailand’s market leader in consumer finance, SBF is well positioned to scale the business faster, launch better and more innovative product variants, serve more customers and, in effect, substantially grow its market share in retail business.”

He added that the newly formed alliance is part of SBC’s aggressive strategy to expand its retail offerings. The integration will also allow SBF to adopt more

SECURITY Bank Corp. President and CEO Sanjiv Vohra (left) inks deal alongside Bank of Ayudhya Pcl. President and CEO Seiichiro Akita.

sophisticated risk management models and incorporate more process efficiencies in its operations. “This joint venture is just one of several projects in our pipeline. We plan to rollout more significant initiatives in the future as we further our goal to enhance our customers’ experience and strengthen our position in the consumer retail market,” added Vohra.

The two banks plan to jointly explore opportunities in personal loans, motorcycle loans and insurance.

Krungsri President and CEO Seiichiro Akita said, “We are very pleased to partner with a leading financial institution like Security Bank. Together, the two banks

will join hands in developing and delivering quality consumer finance products to people in the Philippines. With expertise and experiences from both sides, the collaboration between Krungsri and SBC will enhance SBF’s business competitiveness while penetrating and serving the Philippines’s high growth consumer finance market.”

Krungsri and Security Bank appointed ING Bank NV as financial advisor on this transaction.

Security Bank is among the six largest private domestic universal banks in the Philippines by total assets (at P763 billion) as of March 31, 2019.

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Monday, August 12, 2019 B5

The World

B6 Monday, August 12, 2019 • Editor: Angel R. Calso

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IMF contradicts Trump: China hasn’t manipulated its currency

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ASHINGTON—The International Monetary Fund (IMF) sees little evidence that China’s central bank has deliberately reduced the value of the nation’s currency—a position at odds with the Trump administration’s decision this week to accuse Beijing of manipulating the yuan.

The IMF said Friday in its yearly review of China’s economy that the yuan has been “broadly stable” against other currencies, suggesting there’s been little intervention by

the People’s Bank of China. A weaker yuan would give Chinese exporters a competitive price advantage over foreign rivals.

The Treasury Department on

Monday named China a currency manipulator for the first time since 1994. The move, reversing its decision in May to keep China off the blacklist, came after Beijing’s central bank let the yuan drop to its lowest point in 11 years.

“Clearly, they are manipulating their currency,” White House trade adviser Peter Navarro told CNBC Friday.

China’s central bank sets the exchange rate each morning and allows the yuan to fluctuate by 2 percent against the dollar during the day.

The central bank can buy or sell currency—or order commercial banks to do so—to keep the yuan’s price from swinging too widely.

In letting the yuan slide, the central bank was responding to economic reality. China’s economy is slowing—partly because

President Donald J. Trump has slapped tariffs on $250 billion worth of Chinese imports—and market pressures are pulling the currency down.

The world’s two largest economies are locked in a tariff war over US allegations that China is stealing trade secrets and forcing foreign companies to handover sensitive technology. Twelve rounds of talks have failed to end the impasse, and a Chinese delegation is expected in Washington next month to continue the negotiations.

But Trump rattled financial markets Friday by saying it would be “fine” with him if talks got called off. The Dow Jones Industrial Average fell 90.75, or 0.3 percent, to 26,287.44, and the Nasdaq dropped 80.02, or 1 percent, to 7,959.14. AP

Ex-PBOC officials warn of long currency war with US

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ORMER China central bankers warned Saturday of currencywar risks with the United States after an abrupt escalation of trade tensions between the world’s two biggest economies this week.

The US’s labeling of China as a currency manipulator “signifies the trade war is evolving into a financial war and a currency war,” and policy makers must prepare for long-term conflicts, Chen Yuan, former deputy governor of the People’s Bank of China (PBOC), said at a China Finance 40 meeting in Yichun, Heilongjiang.

Former PBOC Governor Zhou Xiaochuan said at the gathering that conflicts with the US could expand from the trade front into other areas, including politics, military and technology. He called

for efforts to improve the yuan’s global role to deal with the challenges of a dollar-denominated financial system.

The PBOC allowed the yuan to weaken below 7 to the dollar last week, prompting the US to accuse China of currency manipulation.

President Donald J. Trump said talks with China planned for next month could be called off. Domestically, the conflicts added a new dimension to China’s balancing act: how to support the economy while avoiding an exchange rate that widens its rift with the US. The US currency-manipulation charge is part of its trade-war strategy, and it’ll impact China “more deeply and extensively” than the trade differences, Chen said. While China

should try to avoid further expanding the disputes, policy-makers must be prepared for long-lasting conflict with the US over the currency.

“The US believes, in a geopolitical point of view, it’s being contained

by China with China’s holding of its sovereign bonds,” Chen said. “That means the US is not completely without weakness.”

China should work to increase the use of the yuan in global trade such as the purchase of commodities, he said.

One of the PBOC officials at the meeting signaled that tensions with the US could increase. Zhu Jun, director of the PBOC’s international department, said, “more ensuing measures are likely coming.” She didn’t elaborate.

The US’s move is an “appalling” act to gain an advantage during trade negotiations and is doomed to fail, the Communist Party’s flagship newspaper People’s Daily said in a commentary Saturday.

While markets haven’t reacted too strongly to the weakening yuan this week, it is possible that “the yuan could weaken further on unexpected shocks in the future,” Yu Yongding, a researcher at the Chinese Academy of Social Sciences, said in Yichun.

With policy-makers seemingly determined to make the yuan more flexible, the PBOC “should be patient and not adjust policies in haste because of short-term market volatility,” Yu said. “It won’t benefit the PBOC’s credibility and won’t benefit forex reform.” Bloomberg

N. Korea says Kim supervised weapons tests, criticizes Seoul

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EOUL, South Korea—North Korea said Sunday leader Kim Jong Un supervised test-firings of an unspecified new weapons system, which extended a streak of launches that are seen as an attempt to build leverage ahead of negotiations with the United States while driving a wedge between Washington and Seoul.

The report by North Korean state media came hours after President Donald J. Trump said North Korean leader Kim Jong Un has expressed desire to meet again to start nuclear negotiations after the end of ongoing joint US-South Korea military exercises, and apologized for the flurry of recent short-range ballistic launches that rattled US allies in the region.

North Korea’s Foreign Ministry in a separate statement on Sunday blasted South Korea for continuing to host military drills with the US, and said that its future dialogue will be held strictly between Pyongyang and Washington, and not between the Koreas.

South Korea’s military said the North on Saturday fired what appeared to be two short-range ballistic missiles. It said they flew about 400 kilometers (248 miles) before landing in waters between the Korean Peninsula and Japan.

Kim expressed “great satisfaction” over the launches, which Pyongyang’s Korean Central News Agency (KCNA) said verified that the new weapon system performs as designed. The official Rodong Sinmun newspaper published several photos that showed Kim watching from an observation post and what appeared to be a missile soaring from a mobile launcher.

The agency didn’t specify whether the weapons were ballistic missiles

THIS August 10, 2019, photo provided by the North Korean government shows what it says is the launch of a short-range ballistic missile from the east coast of North Korea. North Korea on Saturday extended a recent streak of weapons displays by firing what appeared to be two short-range ballistic missiles into the sea, according to South Korea’s military. The content of this image is as provided and cannot be independently verified. Korean language watermark on image as provided by source reads: “KCNA” which is the abbreviation for Korean Central News Agency. AP

or rocket artillery, but said they were developed to suit the North’s “terrain condition” and provide “advantageous tactical character different from existing weapons systems.”

Kim Dong-yub, an analyst at Seoul’s Institute for Far Eastern Studies, said that North Korea’s photos and South Korea’s flight data of the launches suggest that the North tested a new weapon system that is different from the short-range ballistic missiles it repeatedly fired in recent weeks.

South Korea’s military had described the previous missiles as similar to the Russian-made Iskander, a solid-fuel, nuclear-capable missile that is highly maneuverable and travels on low trajectories, improving its chances of evading missile defense systems.

North Korea’s fifth round of weapons launches in less than three weeks was seen as a protest of the slow pace

of nuclear negotiations and continuance of the US-South Korea military drills the North claims are an invasion rehearsal.

Experts say Trump’s downplaying of the North’s launches allowed the country more room to intensify its testing activity while it seeks to build leverage ahead of a possible resumption of negotiations. Talks have stalled since the collapse of Trump’s second summit with Kim in Vietnam in February over disagreements on exchanging sanctions relief and disarmament. By launching a slew of weapons that directly threaten South Korea but not the US mainland or its Pacific territories, North Korea also appears to be dialing up pressure on Seoul to make stronger efforts to coax major concessions from the United States on Pyongyang’s behalf.

North Korea in recent months has ignored the South’s calls for dialogue while demanding that Seoul turn

away from Washington and resume inter-Korean economic cooperation held back by US-led sanctions against the North.

In a statement released through KCNA, Kwon Jong Gun, director of the US affairs department at Pyongyang’s Foreign Ministry, criticized South Korea for raising concerns over the North’s recent testing activity while continuing the drills with the US. The North also on Saturday lashed out at South Korea’s recent acquisition of US-made F-35 fighter jets and other plans to expand its military capabilities, saying that the South will gain “nothing but destruction” if it pursues a contest of strength with the North.

“Though we are to enter into a dialogue in future as the currents flow in favor of dialogue, [the South] had better keep in mind that this dialogue would be held strictly between the DPRK and the US, not between the North and the South,” Kwon said, referring to North Korea by its formal name, the Democratic People’s Republic of Korea.

“Given that the military exercise clearly puts us as an enemy in its concept, [the South] should think that an inter-Korean contact itself will be difficult to be made unless they put an end to such a military exercise or before they make a plausible excuse or an explanation in a sincere manner for conducting the military exercise,” Kwon said.

South Korea has said North Korea’s recent launches could hurt efforts to stabilize peace on the Korean Peninsula and called for the North to uphold an agreement to form a joint military committee to discuss reducing tensions, which was part of an inter-Korean military agreement reached last year. AP

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Trump is making Xi’s superpower 2050 plan tougher by the day

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VEN before the trade war, Xi Jinping’s plan to turn China into one of the world’s most advanced economies by 2050 was ambitious.

His grand vision is now looking more aspirational by the day. As mounting pressure from President Donald J. Trump adds to a slew of structural challenges facing China’s $14-trillion economy—including record debt levels, rampant pollution and an aging population—the risk is that the country gets stuck in a “middle-income trap,’’ stagnating before it reaches rich-world levels of development.

Economists say Xi’s government can avoid that fate by boosting domestic consumption, liberalizing markets and increasing the country’s technological prowess. But it won’t be easy.

Only five developing countries have made the transition to advanced-nation status while maintaining high levels of growth since 1960, according to Nobel laureate Michael Spence, a professor at New York University’s Stern School of Business.

“China trying to do this with active opposition from the US makes the hurdle that much higher to jump over,” said Andrew Polk, cofounder of research firm Trivium China in Beijing. “But the US has clearly lit a fire under China. If it ultimately does succeed we may look back at this moment as the catalyst that really kicked their efforts into high gear.”

The International Monetary Fund (IMF) highlighted President Xi’s challenge on Friday, saying in its annual report on China’s economy that if a comprehensive trade agreement isn’t reached, it would damage the nation’s long-term outlook. “China’s access to foreign markets and technology may be significantly reduced,” the IMF said.

Odds of a near-term trade deal appear low. After President Trump issued a surprise threat to apply new tariffs on $300 billion of Chinese goods two weeks ago, Beijing responded by halting purchases of US crops and allowing the yuan to fall to the weakest level since 2008 on August 5.

Trump’s administration fired back within hours, formally labeling China a currency manipulator.

The White House is also holding off on a decision about granting exemptions to US companies that want to do business with Huawei Technologies Co., the Chinese tech giant that Trump placed on a blacklist in May, people familiar with the matter said.

Any concessions from China are unlikely until October at the earliest, said Jeff Moon, a former assistant US trade representative for China affairs. Xi faces growing internal pressure to project strength as antigovernment protests in Hong Kong intensify and China prepares to celebrate the 70th anniversary of the founding of the People’s Republic on October 1.

“Any sign of weakness is unacceptable to Chinese leaders,’’ Moon said.

In one sign of how rapidly the Sino-US relationship has deteriorated, some state media in China have raised the prospect that Beijing may consider cutting off engagement on trade entirely. Communist Party-run publications have stoked nationalism in recent weeks while exuding confidence in China’s economic system and its flexibility to cope with external challenges.

“Chinese enterprises are speeding up adjustment, creating new export markets,” Hu Xijin, the editor in chief of China’s state-run Global Times, tweeted on Thursday, after data showing overseas shipments beat expectations in July.

In the short run, China’s government has ample firepower to prevent economic growth from falling below the 6-percent lower bound of its annual target range.

Bloomberg Economics predicts the central bank will cut interest rates this year, while Standard Chartered Plc. expects fiscal stimulus to drive a moderate recovery in the second half of 2019.

Xi has also made some progress in tackling China’s long-term challenges. A more than two-year deleveraging campaign has helped wring some of the worst excesses out of the country’s debt markets, while regulators have taken a much harder line on high-polluting industries in recent years. The services sector now accounts for more than half of gross domestic product.

China has also poured billions into developing a homegrown hightech industry, going head-to-head with the West in areas like artificial intelligence and electric vehicles.

In an October 2017 speech that laid out his long-term vision for the Chinese economy, Xi vowed to join the most innovative countries by 2035 on the way to great-power status by 2050.

Yet, the trade war has laid bare just how far China remains from some of Xi’s targets. The most striking example: America’s blacklisting of Huawei, which threatens to cripple the Chinese national champion because local chip designs aren’t yet sophisticated enough to replace those from the US. “For China it will be harder to access state-of-the-art technology,” said Bert Hofman, director of the East Asian Institute at the National University of Singapore. “This will make it harder for China to catch up, but, at the same time, it will set stronger incentives to develop their own technology ecosystem.

How China does this will determine how fast they will grow.”

Debt and demographics are two other big challenges. China’s debt burden has continued to rise despite the deleveraging campaign, climbing to about 303 percent of GDP in the first quarter, one of the highest ratios among developing nations, according to the Institute of International Finance. The country’s working-age population is forecast to shrink by more than 20 percent to 718 million by 2050, according to data compiled by the United Nations.

While China’s per-capita GDP has jumped tenfold since 2000 to an estimated $10,000 this year, it’s still far below readings of about $65,000 in the US and Singapore—one of the five economies highlighted by Spence as having achieved advanced-country status since 1960.

China’s economy is still expanding faster than its rich-world counterparts for now, but its advantage is shrinking.

Growth slowed to 6.2 percent in the second quarter, the weakest pace in at least 27 years, and Standard Chartered estimates that if Trump’s threatened tariffs come into effect on September 1, they could slice 0.3 percentage point off China’s annual rate of expansion. Xi has tried to diversify the country’s stable of overseas customers via his signature Belt and Road initiative and other trading pacts, but the US still accounts for about 20 percent of China’s exports.

“The US-China trade tensions certainly make the transition harder,” said Michelle Lam, greater China economist at Societe Generale SA in Hong Kong. “China will lose some export market share and the technology spillover from the US to China will slow. But the current tensions also provide the opportunity for policy-makers to press harder with reform.” Bloomberg News

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The World BusinessMirror

Death toll rises to 93 in floods, mudslides in southern India

3 UN staff killed outside mall in Libya explosion

B IN this handout photo provided by the National Disaster Response Force, NDRF personnel help move flood victims to safer areas in Wayanad district, in the southern Indian state of Kerala. Dozens of people have died and some 100,000 moved to relief camps, following flash floods and mudslides caused by days of torrential rains in the southern Indian state of Kerala. AP

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EW DELHI—At least 93 people have been killed and more than 400,000 displaced in floods and mudslides, caused by days of torrential rains in southern India.

The worst hit has been the state of Kerala where the death toll rose to 57 on late Saturday, Chief Minister Pinarayi Vijayan has tweeted.

This is an increase from 42 deaths reported from August 8. More than

165,000 people have left their homes for relief camps.

A news report says another 31 people have been killed in rain-related accidents in neighboring Karnataka, while at least five are reported dead in Tamil Nadu state.

Kerala suffered catastrophic floods a year ago when heavy downpours killed 223 people and drove hundreds of thousands from their homes. AP

Muslims clash with Israeli police at Jerusalem holy site

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ERUSALEM—Muslim worshippers and Israeli police clashed on Sunday at a major Jerusalem holy site during prayers marking the Islamic holiday of Eid al-Adha.

Palestinian medics said at least 14 people were wounded, one seriously, in the skirmishes with police at the site, which Muslims refer to as the Al-Aqsa mosque compound and Jews refer to as the Temple Mount.

Witnesses said at least two people were arrested.

Tens of thousands of Muslims had flocked to the site in

Jerusalem’s Old City early Sunday for holiday prayers, police said.

It is the holiest site for Jews and the third holiest for Muslims, after Mecca and Medina in Saudi Arabia.

It has long been a flash point at the epicenter of the Israeli-Palestinian conflict.

Israeli police barred entry to the compound to Jewish visitors on Sunday before clashes erupted.

Sunday is also the Ninth of Av, the Jewish day of mourning for the destruction of the two Biblical temples that stood at the site in antiquity. AP

Families mourn and bury those killed in Ohio, Texas shootings

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AYTON, Ohio—Mourners gathered across the country Saturday to remember the lives of a graduate student beloved by friends, a man who died in his son’s arms and a mother who shielded her infant from gunfire.

The funerals were among several being held for people who died in mass shootings last weekend in Dayton, Ohio and El Paso, Texas. Investigators in Texas said a gunman opened fire at a Walmart on August 3, targeting Mexicans and killing 22 people. Less than 24 hours later, another shooter killed nine people in a popular Dayton nightlife area.

Every seat was filled and the hallways were lined with mourners in Washington, Pennsylvania, at the service for 25-year-old Nicholas Cumer. The graduate student in the master of Cancer Care Program at Saint Francis University in Loretto, Pennsylvania, was killed in Dayton.

Elementary-school teachers, high-school friends, fraternity brothers and relatives were joined by scores of others as white folding chairs were set up in the parking lot to handle the overflow.

“He was just infectious. He had a heart bigger than his chest,” said Pastor Brian Greenleaf of Washington Alliance Church after officiating the service. Greenleaf started the service by saying Cumer would probably be “smiling and laughing throughout this whole service.”

“Because the images I have of Nick are just that,” the pastor said.

“Heaven is a little bit better today because of Nicholas Cumer.”

Hundreds of people, including

Ohio Gov. Mike DeWine and Dayton Mayor Nan Whaley, attended Derrick Fudge’s funeral at Saint John Missionary Baptist Church in Springfield, Ohio, the Dayton Daily News reported. Fudge died in the arms of his son, Dion Green. He was remembered as a loving family man who painted houses, and loved to fish and cook. Green said his father spoke often of his willingness to die for him. Green previously told the Springfield News-Sun he believes his father protected him from being killed. Green said on Saturday that his father, who was 57, was a great person who was always there to help when needed.

In a eulogy for her brother, Twyla Southall said Fudge lived a “simple” life, but one he loved.

“I don’t understand why my brother died in his son’s arms, but I am so grateful he was there for his father,” Southall said. Burial services for Saeed Saleh, 38, were also held on Saturday morning in Dayton, according to the Daily News. Saleh, who was originally from Eritrea and recently immigrated to the US, was remembered as a “humble and quiet person” by a spokesman for the family.

In El Paso, a requiem Mass was offered for 15-year-old Javier Amir Rodriguez, a high-school sophomore and avid soccer player, who was at the Walmart with his uncle when he was killed. Burial was also scheduled for Jordan Anchondo, who died shielding her infant son from gunfire. Her two-month-old son was treated for broken bones, but was orphaned after Jordan and her husband, Andre, were killed. AP

Editor: Angel R. Calso • Monday, August 12, 2019 B7

ENGHAZI, Libya—A bomb-laden vehicle exploded on Saturday outside a shopping mall in Libya’s eastern city of Benghazi, killing at least three UN staff members, a spokesman for the United Nations secretary-general said. The attack came even as the country’s warring sides said they accepted a cease-fire proposed by the UN, aimed at halting combat in the capital Tripoli, during an upcoming Muslim holiday.

Health officials said the blast took place outside Arkan Mall in the Hawari neighborhood, where people were gathering for shopping, a day before the Eid al-Adha holiday begins. The Benghazi municipal council said the attack targeted a convoy for the UN Support Mission in Libya.

The site of the attack is close to offices of the mission in Libya. Two of the dead hailed from Libya and Fuji, and the blast wounded nine people, according to health officials who spoke on condition of anonymity because they were not authorized to brief reporters.

Stéphane Dujarric, a spokesman for UN Secretary-General António Guterres, said in a statement that

three UN workers were among the wounded.

“The secretary-general extends his deepest condolences to the bereaved families and wishes a swift recovery to all the injured. He calls on the Libyan authorities to spare no effort in identifying, and swiftly bringing to justice, the perpetrators of this attack,” Dujarric said.

He also said the secretary-general urged “all parties to respect the humanitarian truce during Eid alAdha and return to the negotiating table to pursue the peaceful future the people of Libya deserve.”

The UN special envoy for Libya, Ghassan Salame, condemned what he called a “cowardly attack.”

“This attack will not discourage

us, nor will it prevent us from carrying on with our duties to bring about peace, stability and prosperity to Libya and its people,” he said in a statement.

Salame said the commitment of the parties of the UN-proposed cease-fire in Tripoli “sends an irrevocable message that the blood of Libyans, and UN staff... was not shed in vain in this heinous explosion.”

The UN Security Council held an emergency meeting late Saturday afternoon on the situation.

Assistant Secretary-General for Africa Bintou Keita told members the attack took place in an area “supposedly under full security control” of the Libyan National Army of Gen. Khalifa Hifter.

She said the attack “highlights the continued danger of terrorism across the country,” and it confirms that the latest hostilities are creating a vacuum “easily exploited by radical elements that strive on chaos and violence.”

Keita said the UN doesn’t intend to evacuate from Libya, and she expressed hope that both sides will abide by their commitment to the Eid cease-fire.

Footage circulated online shows what appears to be burnt UN-owned vehicles, as thick smoke bellows into the sky.

No group immediately claimed responsibility for the attack, which came just a month after two bombladen vehicles went off in Benghazi, the stronghold for the self-styled LNA. The July attack killed at least four people and wounded 33 others.

If it takes place, the upcoming cease-fire would be the first since the LNA launched a surprise military offensive on April 4 aimed at capturing Tripoli, ushering in fierce battles with militias loosely allied with a UN-supported, but weak administration in the capital.

The battle for Tripoli has killed over 1,100 people, mostly combatants, and has displaced more than 100,000 civilians. Thousands of African migrants captured by Libyan forces supported by the European Union are trapped in detention centers.

In recent weeks, the battle lines have changed little, with both sides dug in and shelling one another in the southern reaches of the capital.

Fighters have also resorted heavily to air strikes and attacks by drones.

An air strike on one facility, early last month, killed more than 50 people— many of whom were migrants who died when a hangar collapsed on top of them.

Libya slid into chaos after the 2011 uprising that toppled and killed long-ruling dictator Muammar Gaddafi. Armed groups have proliferated, and the country has emerged as a major transit point for migrants fleeing war and poverty for a better life in Europe.

The LNA is the largest and best organized of the country’s many militias, and enjoys the support of Egypt, the United Arab Emirates and Russia. But it has faced stiff resistance from fighters aligned with the UNrecognized government, which is aided by Turkey and Qatar. AP

Mass shootings give rise to bullet-resistant backpacks

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EW YORK—Companies like Guard Dog Security, TuffyPacks and Bullet Blocker are peddling bullet-resistant backpacks for children in time for the back-toschool shopping season. But critics argue they are using tragedy as a marketing opportunity and exploiting parents’ worst fears.

Safety is high on the minds of many parents, especially after two back-toback mass shootings in El Paso and Dayton, Ohio that left 31 people dead.

“Times have changed,” said Yasir Sheikh, founder and president of Skyline USA, which makes Guard Dog Security products, like pepper spray and stun guns, and started offering bullet-resistant backpacks, called ProShield Scout, for children last year.

“Our product is in response to that. It’s a sad reality.”

Sheikh said the bullet-resistant backpacks are very popular and sold out several times after the 2018 Parkland, Florida, school shooting that left 17 people dead.

Steve Naremore founded Houstonbased TuffyPacks in late 2015 after his daughter, a fourth-grade teacher, told him about the frequency of active shooting drills for her students.

His company produces some bulletresistant backpacks but the bulk of his business is in removable ballistic shields that are inserted in backpacks.

Naremore says his backpacks could be the difference between suffering “lethal versus non lethal” injuries.

“It acts as a defensive shield, “said Naremore, noting sales of the shields tripled in the days after the mass shooting at a Walmart store in El Paso last week that killed at least 22 people.

But some parents question the motives behind such companies.

“The only people enjoying it are the people selling the backpacks,” says Ponnell Scroggins of Milwaukee, a father of six children, ages three to 14. “They’re making plenty of money right now. And they’re doing it off of something that was very unfortunate.”

TuffyPacks markets its products on its web site with mass shootings in mind: “Are you and your family

protected in the event of a school or workplace shooting? Be prepared for the worst situation with the industry’s best ballistic shields!”

And its backpacks don’t come cheap. TuffyPacks’s shields range in price from $129 to $149. Skyline’s ProShield Scout backpacks are priced at $119, although it’s less than the adult version that tops at $199.

Some also cast doubt on the backpacks’ safety and how much they can really protect children. Both Guard Dog Security and TuffyPacks claim their products are tested in independent labs, in line with the standards for the National Institute of Justice (NIJ) and meet the requirements for a Level IIIA rating. That means the shields can thwart a 9-millimeter handgun and a .44 magnum. Naremour says it’s like wearing a police vest.

But the National Institute of Justice—the research, development and evaluation arm of the Department of Justice that comes up with the rating—has itself never conducted tests on these products nor certified them, and therefore cannot vouch for them.

“Marketing that claims NIJ testing or certification for such products is false,” said Mollie Timmons, a Justice Department spokesman.

The backpacks also don’t protect against military-style weapons, which were used in several mass shootings, including Parkland, as well as Sandy Hook Elementary School in Connecticut, in which a gunman killed 20 children and six educators in 2012.

Sandy Hook remains the deadliest mass shooting at either a high school or grade school in US history.

Greg Shaffer, a former FBI agent and an expert in domestic terrorism, notes that the majority of active shooters use handguns. Nonetheless, bullet-resistant backpacks may not be effective because children often have

to leave their backpacks in cubbies in homeroom so they wouldn’t have them with them if there was an active shooter. Not many children are shot and killed going and coming to school, he added.

“I just don’t think that for the money and the extra weight that it is much more effective in protecting kids,” he said.

For the most part, major retailers like Walmart and Target seem to be staying away from the backpacks.

Both discounters said they don’t sell them but declined to comment further.

An Amazon spokesman said it doesn’t sell bullet-resistant backpacks either and pointed to its policy that bans selling body armor and any product that includes bulletproof or ballistic helmets and clothing.

Meanwhile, Office Depot Inc. carries Guard Dog Security products in select Office Depot and OfficeMax retail stores across the US, as well as online, while Homedepot.com carries ProShield backpacks. The bulk of the selling, however, seems to be from small independent online retailers like Bulletproofzone.com.

“Big chains are hesitant to carry them because of the liability issue,” said Craig Johnson, president of Customer Growth Partners, a retail consulting firm. “I don’t see it as a mainstream type of product.”

Earlier this week, Walt Disney Co. demanded TuffyPacks to stop selling bullet-resistant inserts featuring Disney princesses, Harry Potter and

Avengers characters from its line.

“None of these products were authorized by Disney, and we are demanding that those behind this stop using our characters or our other intellectual property to promote sales of their merchandise,” said a Disney spokesman in an emailed statement to The Associated Press.

Naremore says he has pulled all of the Disney-themed products.

Educational experts say bullet-resistant backpacks are not the solution.

“Schools should be safe sanctuaries where kids can feel secure, not hardened war zones where they’re dressed like soldiers preparing for battle,” said Randi Weingarten, president of the American Federation of Teachers, the nation’s second-largest teachers’ labor union, in an emailed statement to The Associated Press. “If retailers are going to sell these products, they must also step up to demand real, effective solutions to gun violence, including regulating tougher regulations on gun sales and buyback programs to help get illegal guns off the streets.”

Still, the makers of bullet-resistant backpacks have tapped into a fear that is real.

And for parents feeling helpless and looking for an answer, t he b a c kpacks prov ide them with one. AP

B8 Monday, August 12, 2019

MSU-Marawi wins the first Business Innovation Idea Challenge

ENACTUS PHILIPPINES' 2019 BUSINESS INNOVATION IDEA CHALLENGE CHAMPION IS MINDANAO STATE UNIVERSITY-MARAWI CAMPUS. Awarding them their Plaque are Members of the EP Board and Sponsors. Leftmost onstage is KPMG R.G Manabat & Co.'s Audit Partner Mr. Ador C. Mejia and on the right is Quisumbing Torres' Partner for Corporate and Commercial Atty Dennis A. Quintero. In the front row are from left to right: Pilipinas Shell Foundation, Inc.'s Executive Director Mr. Sebastian C. Quiñones, Jr, Enactus Philippines' Chairman Dr. Jose P. Leviste,Jr., EP Country Leader Atty. Leo G. Dominguez, Guest Speaker Bambuhay's Founder & Chief Executive Farmer Mark D. Gersava and EEI Corporation's Assistant Vice President for Corporate Affairs Mr. Rodrigo V. Mantaring.

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INDANAO State UniversityMarawi Campus won the first Enactus Philippines Business Innovation Idea Challenge besting four other finalists including De La Salle University - Manila (1st runner-up), Ateneo De Zamboanga University (2nd runner-up), University of the Philippines Mindanao and Technological Institute of the Philippines.

Eleven teams initially submitted project

proposals, which were trimmed down to five.

The five finalists presented their projects or innovation ideas before a panel of esteemed judges at the recently concluded Enactus National Finals on July 27, 2019 at the SMX Convention Center-Manila.

The MSU team’s winning project is “Lily Compost: A Fertilizer from Water Hyacinth”, which addresses the issue in Lake Lanao about the abundance of water

hyacinths invading big parts of its coastal areas and clogging the waterways of the NAPOCOR’s hydroelectric plant. The project aims to turn water hyacinths into an organic compost that local farmers can use as fertilizer. This is also an advocacy project to help the Marawi Seige survivors find ways to organize themselves back to society by utilizing resources that are abundant in the area.

Enactus Chairman Jose P. Leviste, Jr. mentioned, “This competition marks the transition of the Enactus organization to not only focus on business and entrepreneurship as a powerful tool to improve the lives of the communities and people, but to incorporate science, technology, and innovation as an integral part of how we do things.”

Awarding the llaque to MSU team are members of the EP Board and sponsors.

Leftmost onstage is KPMG R.G Manabat & Co.’s Audit Partner Mr. Ador C. Mejia and on the right is Quisumbing Torres’ Partner for Corporate and Commercial Atty Dennis A. Quintero. In the front row are from left to right: Pilipinas Shell Foundation, Inc.’s Executive Director Mr. Sebastian C. Quiñones, Jr, Enactus Philippines’ Chairman Dr. Jose P. Leviste,Jr., EP Country Leader Atty. Leo G. Dominguez, Guest Speaker Bambuhay’s Founder & Chief Executive Farmer Mark D. Gersava and EEI Corporation’s Assistant Vice President for Corporate Affairs Mr. Rodrigo V. Mantaring.

History comes to life at Las Casas Filipinas de Acuzar

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TARTING August 2019, Las Casas Filipinas de Acuzar brings to life iconic Filipino characters that played huge and nostalgic pieces of history through Historyland #HistoryComesToLife.

This project is the heritage hotel and destination’s newest attraction aiming to repaint the country’s rich heritage whilst reminiscing its people and their undeniable bravery.

Rediscover the relevance of every event in the Philippine history through Las Casas’ Historyland.

The Battle of Mactan. Travel back in 1521 where Filipinos first fought against the Spaniards, one of the world’s most powerful at that time. Mighty Lapu Lapu, Mactan Island’s chieftain, believed in sovereignty and he ultimately defended it to the colonizers. Expect to see the death of Ferdinand Magellan and feel the nationality through our blood and veins.

Execution of Jose Rizal. Philippine national hero Jose Rizal lived his entire life to ignite change and inspire his countrymen.

Realize the contribution of our National Hero to the society and its impacts to the future by rediscovering the past.

The Cry of Pugad Lawin. The tearing of cedulas is, more often than not, overlooked as far as our history is concerned. Know the significance of this action, from what encouraged Filipinos to finally fight for their country and the future battles that occurred.

Making of Philippine Flag. Learning the depth of every symbolism in our flag requires thorough understanding. In fact, the Philippine flag we have today underwent a lot of revisions and HistoryLand will give us the opportunity to immerse ourselves in the making of this authentic Filipino symbol.

Fight for Philippine Independence. A long and arduous battle, our forefathers’ fight for the country’s ultimate independence is a part of history we are all very eager to

unravel. Experience this live and in flesh at the first ever history amusement park.

Parade of History. Get a once in a lifetime experience with HistoryLand’s historical figures in a 30-minute Meet and Greet! The characters that are part of HistoryLand will walk through the aisles of Las Casas and have your pictures taken with them!

Located at the heart of Bagac, Bataan, Las Casas Filipinas de Acuzar is a World Class and only Philippine destination that showcases the best of Filipino heritage and culture through the colorful stories as retold by owner Jose “Jerry” Acuzar’s collection of restored Spanish-Filipino houses.

From the majestic architectural design to heart-warming revival of traditions, the heritage resort is the Asia Awards of Excellence winner for Asia’s most excellent destination for 2017 and is a project of the New San Jose Builders, Inc. For inquiries, call 0917.872.9361 or visit www.lascasasfilipinas.com.

Manila Water partners with government, disaster resilience groups for Agapay

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N celebration of the National Disaster Resilience Month, Manila Water Foundation (MWF) inked agreements with its partners from government, private sector and NGOs under its disaster response program Agapay in a Memorandum of Agreement (MOA) signing event held at LB Soriano Hall, Seameo Innotech on July 30, 2019.

Agapay is the disaster response program of MWF that distributes bottled drinking water, deploys water tankers or Mobile Treatment Plants, and builds sanitation facilities for affected families and individuals who were displaced from their

homes and communities. The MOA signing aims to formalize MWF’s partnership with multi-sectoral institutions which will lead to a more collaborative approach and pave the way for seamless disaster response deployments under its Agapay program.

The partnerships formed will be beneficial most especially to vulnerable communities which are prone to disasters and calamities. Institutions whose mission is to bring relief to disaster-stricken communities tooklpart at the MOA signing as Agapay partners and allies- the Office of Civil Defense, Health Emergency Management Bureau of the Department

of Health, ABS-CBN Foundation, GMA Kapuso Foundation, Rise Against Hunger Philippines, Philippine Disaster Relief Foundation, Shared Aid Fund for Emergency Response, YesPipnoy Foundation, and Plan International.

Through Agapay, Manila Water Foundation provides access to safe water and better sanitation facilities to disasteraffected families and communities. In 2018 alone, about 67,500 individuals were served by the program. Through this event, MWF hopes to effectively reach more calamitystricken communities in the years to come for a disaster-resilient Philippines.

PCSO officials cite Du30’s decisiveness to weed out corruption

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HE Philippine Charity Sweepstakes Office (PCSO) administrators yesterday cited President Duterte’s decisiveness in stamping out corruption and setting the stage for structural and operational reforms in the agency.

PCSO chair Anselmo Simeon Pinili the President manifested “strong political will” in overhauling the agency’s official hierarchy and suspending albeit only briefly all gaming operations notably the lotto that serves as its main lifeline for revenue generation.

With the suspension order, the Chief Executive sent a strong message that he has no second thoughts about doing what he thinks is best for the PCSO no matter who gets hurt.

“But he also acknowledged the indisputable fact that the PCSO has an inherent mandate to help the poor and the needy particularly those who are sick but do not have the financial capability to secure professional medical assistance, hence he lifted the suspension order after barely one week to put our revenue generation back on track,” Pinili said.

For her part, newly appointed PCSO general manager Royina Garma also thanked the President for “removing all stumbling blocks that thwarted attempts by previous administrators

to weed out misfits and iniquities in the agency.”

On the other hand, Ike “ka Iking” Seneres stressed that “with the road towards organizational and operational reforms cleared of all hindrances, we can now move full steam ahead in setting the PCSO’s state of affairs steadily in the right direction,”.

This means that the general public can expect drastic changes in the PCSO including digital services for the lotto and other gaming draws.

Previously, it is not uncommon for PCSO officials to find themselves at the receiving end of civil, criminal, and administrative complaints arising from their attempts to implement reforms in the agency.

Private lotto operators and service providers are also wont to securing temporary restraining orders from friendly judges, thus tying the hands of the PCSO managers in the process.

“We are humbled yet thankful for the decisiveness and support of the president,” Seneres added.

Pinili and Garma were also one in saying that with President Duterte standing four square behind them, they are optimistic that their mission to put the PCSO in shipshape state is no longer impossible to accomplish.

‘Shackleton Ice Truck‘ tours Manila

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APTURING only the finest whisky experience brought to Antarctica by British explorer Sir Ernest Shackleton and his team in 1907, Shackleton Blended Malt Scotch Whisky is now touring select spots in Metro Manila via a roving iceberg museum.

Inside the truck, temperatures can go as low as -15 degrees Celsius to give guests the invigorating experience of trying out the blended malt whisky. There, visitors can also learn about the unique history of Shackleton Blended Malt Scotch Whisky through a lights and sound show.

“We are bringing the Antarctic experience closer to whisky aficionados with our Shackleton ice truck beginning here at Landers Arcovia in Pasig City.

Through this, we will be giving an interactive tasting experience where the flavor notes

of our blended malt will come to life,” says Pia Bonalos-Mercado, brand manager for Shackleton Blended Malt Scotch Whisky.

Shackleton is the first blended malt brand to join Whyte & Mackay’s portfolio as a permanent offering. The result is a rich and robust whisky, which offers notes of vanilla, honey, ginger and liquorice, with a whisper of bonfire smoke. Shackleton is bottled today, but it is based on the whisky that Whyte and Mackay’s distillery produced 100 years ago. Sir Ernest’s group brought 25 cases with them to start their exploration, and this whisky kept them warm and strong as they faced the difficult task of reaching furthest south in Antarctica.

Know more about Shackleton Blended Malt Scotch Whisky , visit https://www. theshackletonwhisky.com.

PWU goes green, celebrates centennial year

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OUNDED in 1919, the Philippine Women’s University (PWU) was the first university for women in Asia founded by women -- to prepare young Filipinas for a life of productive and participative citizenship.

Today’s PWU remains true to the vision of its founding mothers while evolving into a modern institution prepared to meet the opportunities and challenges of the next hundred years. It is now co-educational and includes among its alumni, popular television host Boy Abunda (Dr. Eugenio R. Abunda), who is actively involved in the PWU Centennial Committee’s “100 Reasons to be Proud” campaign.

Celebrating one hundred years of quality education in the service of the nation, PWU started off with a fun run dubbed RunHundred early this year where the public was invited to run in solidarity with PWU and JASMS students, alumni and friends who honored the university’s past with an eye on the future.

A centennial project of the PWU Alumni Association, spearheading the fun run is TV personality “Kuya” Kim Atienza, whose parents, Cong. and Mrs. Lito Atienza, are PWU and Bayanihan alumni.

Last summer, a series of campus activities took place at PWU starting off with a Sayaw Workshop for children and teens under the tutelage of the Bayanihan dancers. It was followed by batik-making and Indonesian culinary showcase. All events were open for the public.

Most recently, PWU simultaneously relaunched several initiatives, among them, the clean and green “oh my gulay project”, a

wellness hub, the balik-aklat library hub and an artistic hub.

“What better way to spin off an ongoing lifestyle celebration as we at PWU enrich ourselves and celebrate this centennial year,” said Suzie Benitez, the associate vice president, Campus Life, and Director of the Center for Culture, Arts, Music and Sports of the PWU. She is also the trustee and executive director of Bayanihan Folk Arts Foundation.

One sunny Sunday, student representatives from different PWU campuses started planting seedlings at the NBB organic farm in Tagaytay guided by the farmhands of the farm. There was also the harvest time for veggies and fruits needed for the culinary session conducted by the Indonesian embassy teachers . Led by Dr. Lilli Nurlali, they taught and shared five recipes that the students, the farm staff and the PWU faculty members Petra Elepano, Marielle Javellana, Pamela Corales, Ron Olvido and Leo Lorilla prepared, cooked and enjoyed during lunchtime.

This activity launched the urban gardening project at the PWU Taft campus.

Grade school students in the past would have their own garden plots at the old JASMS Quezon City campus and grew up valuing the fruits of the soil.

“Today given the fast pace lifestyle an urban garden would keep the students’ appreciation of their own produce, healthy eating as well as a clean and green campus environment.

This centennial year, we look back and look forward with excitement to the sustainability of the core values infused by the founders into the PWU educational programs,” Benitez concluded.

Sports ENDURING SYMBOL OF CHEATING DIES C1

| Monday, August 12, 2019

BusinessMirror

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FLEX ‘EM MUSCLES Competitors pose for the judges in the women’s fitness event at the debut of bodybuilding as an official sport at the Pan American Games in Lima, Peru, on Saturday. AP

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By Jimmy Golen & Rhonda Shafner The Associated Press

OSTON—Rosie Ruiz, the Boston Marathon course-cutter who was stripped of her victory in the 1980 race and went on to become an enduring symbol of cheating in sports, has died.

She was 66.

Ruiz, who was also known as Rosie Vivas, died in Florida of cancer on July 8, according to an obituary that made no mention of her Boston Marathon infamy.

“It’s a colorful part of the Boston Marathon history, that’s for sure,” said Bill Rodgers, who won the men’s race that year and was immediately suspicious of the woman sitting next to him on the awards podium. “Poor Rosie, she took all the brunt of it.”

An unknown who didn’t look or act like she had just run 26.2 miles, Ruiz finished first in the women’s division in Boston in 1980 in a then-record time of two hours, 31 minutes and 56 seconds. Even as she was awarded her medal and the traditional olive wreath, her competitors wondered how a woman they hadn’t ever heard of—or seen on the course—could have won.

“We knew that she had jumped in. We, who knew what the marathon was, we got it,” Rodgers told The Associated Press on Thursday. “She wasn’t sweating enough; she had on a heavy shirt; she didn’t know about running.

“I was with her the next day on TV, and she was just crying her head off,” Rodgers said, adding that he thought Ruiz wanted to confess. “If she had just said, ‘I’m sorry. I made a mistake.’ Runners—we all drop out of races—we would have understood.”

In an era before tracking chips and electronic checkpoints, race organizers used spotters to scribble down the bib numbers of runners going by. (They focused mainly on the men’s race.) Ruiz did not show up there, on videotape or in any of 10,000 photographs taken along the first 25 miles of the course.

Grilled by the Boston Athletic Association (BAA) about her training methods and pace, she had no answers and did not seem to recognize terms that would be common for elite marathoners; she also could not identify landmarks she would have passed on the

course. Two Harvard students soon came forward to say they saw her join the race near Kenmore Square, about a mile from the finish.

Ruiz was stripped of her title eight days after the race.

Canadian Jacqueline Gareau was declared the rightful winner and brought back to Boston the next month to receive her due.

“People, they’re still sorry for me. But, at the same time, I think they should feel sorry more for her,” Gareau, who also came in second in Boston twice and had two other top-10 finishes, told the AP. “Like everybody says, she’s part of my life. I cannot separate from her because of that story. She’s not a friend, but she’s been there so long.

“I wish she would have contacted me some time and said ‘I’m so sorry,’ but no,” Gareau said. “She would have probably had a better life and felt better.”

It was never established how Ruiz got to Kenmore Square, but the ensuing investigation showed she took the subway during the 1979 New York Marathon to obtain her qualifying time for Boston.

The BAA declined to comment on her death.

Ruiz always maintained that she won the race fairly and never returned the medal she received on race day.

(Gareau was given a substitute.)

Ruiz vowed to run Boston again, to prove that she could do it.

She never did.

ROSIE RUIZ waves to the crowd after being announced as women’s division winner of the Boston Marathon in April 21, 1980. AP

Office for Civil Rights opens probe into transgender athlete policy

BLOOMFIELD High School’s Terry Miller (second from left) wins the final of the 55-meter dash over fellow transgender athlete Andraya Yearwood (left) and other runners in the Connecticut Girls Class S indoor track meet at Hillhouse High School in New Haven, Connecticut, last February. AP

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ARTFORD, Connecticut—The federal Office for Civil Rights has launched an investigation into Connecticut’s policy that allows transgender high-school athletes to compete as the gender with which they identify.

The investigation was announced in a letter recently from the arm of the US Department of Education. It follows a complaint in June by the families of three girls, who say they were discriminated against by having to compete in track events against two athletes who were identified as male at birth and who they say have “male hormone levels and musculature.”

The complaint was submitted on the girls’ behalf by lawyers for the conservative nonprofit organization Alliance Defending Freedom, which contends the transgender girls have an unfair physical advantage and that the state policy violates Title IX, the federal law designed to ensure equal opportunities for women and girls in education, including athletics.

They argue that allowing the transgender athletes to compete has resulted in denying their clients and others the opportunity to qualify for events such as the New England championships, where they would have been seen by college coaches.

“Girls should never be simply spectators in their own sport; they deserve to compete on a fair playing field,” said Selina Soule, a Glastonbury High School sprinter, who has consistently finished behind the two transgender athletes in state championships. “I hope that this important step will help return fairness to the sport I love.”

Gareau said she bumped into Ruiz at a 10K run in Miami in 1981, about nine months after Boston.

“She presented herself to me, she said ‘Hi, I’m Rosie Ruiz.’ I just said, ‘Hi,’” Gareau recalled. “She still told me she won. So I didn’t really discuss it with her.”

Born in Havana, Cuba, Ruiz came to the United States as an eight-year-old and settled with relatives in the Miami area. According to the obituary posted by the Quattlebaum Funeral, Cremation and Event Center in West Palm Beach, Florida, she studied piano at Wayne State College in Nebraska, moved to New York for five years and then back to Florida, where she worked as an accounts manager for a medical laboratory and as an accreditation specialist for the Better Business Bureau.

She married Aicaro Vivas in 1984 and the couple divorced two-and-a-half years later. According to the obituary, she is survived by her domestic partner, Margarita Alvarez, and a brother, Robert Ruiz.

The marathon shortcuts were not Ruiz’s only—or most serious—transgressions: The Boston Globe reported that she was arrested in New York on charges of stealing $60,000 in cash and checks from her employer in 1982. A year later, she was sentenced to three years of probation for cocaine trafficking.

“She had a family. She was a loving person. She studied music, which tells me she did some good stuff in her life. But then this part of her life was a little bit weird. Never admitting it, too,” Gareau said. “I would not like to be in her place.”

The Connecticut Association of Schools-Connecticut Interscholastic Athletic Conference has said its policy follows a state antidiscrimination law that says students must be treated in school by the gender with which they identify.

The organization said in June it would cooperate fully with any investigation.

The transgender athletes in question, rising seniors Andraya Yearwood, of Cromwell High School, and Terry Miller, of Bloomfield High School, have both defended their participation in girls’ events.

Yearwood told The Associated Press in February that there are many differences among athletes that may give one a physical advantage over another, and she does not think she has an unfair advantage.

“One high jumper could be taller and have longer legs than another, but the other could have perfect form, and then do better,” she said. “One sprinter could have parents who spend so much money on personal training for their child, which, in turn, would cause that child to run faster.”

Her mother said Yearwood would have no comment.

Miller, who has won numerous state championships in both indoor and outdoor track, did not respond to a request for comment. But she told the Hartford Courant at the time the complaint was filed that it is “painful that my victories have to be attacked and my hard work ignored.”

Connecticut is one of 17 states that allow transgender high-school athletes to compete without restrictions, according to Transathlete.com, which tracks state policies in high-school sports across the country. AP

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Monday, August 12, 2019

2-time Olympic boxing gold winner loses pro debut

JAMAICAN BREAKS 40-YEAR RECORD

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HILADELPHIA—Two-time Olympic gold medalist Robeisy Ramirez was knocked down seconds into the first round and lost his professional debut to Adan Gonzales on Saturday night.

Ramirez suffered a stunning split decision defeat at Temple’s Liacouras Center, a crushing start for one of boxing’s prized prospects. Gonzales won 40-35 and 39-36 on two scorecards and one judge scored the bout 38-37 for Ramirez.

The 25-year-old Ramirez won gold in two weight classes fighting for Cuba in the 2012 London Olympics and 2016 Rio Games. He defected from Cuba last year and signed a promotional deal with Top Rank.

Gonzales (5-2-2, 2 KOs) knocked down Ramirez with a left hook within 20 seconds of the first round and Ramirez never rallied to mount serious offense in the four-round bout.

Ramirez backed up his flyweight gold medal from the 2012 London Olympics by moving up in weight and winning perhaps the most talented division in the Rio Games.

The victory in the bantamweight tournament capped a cycle of redemption for Ramirez, who was kicked off the Cuban national team in 2014 for repeatedly neglecting his training. He then failed to receive a first-round bye in Rio, forcing him to take a long road through a talented bracket and he defeated New Jersey’s Shakur Stevenson to win gold.

Ramirez walked to the ring Saturday night waving American and Cuban flags and had the crowd firmly behind him.

“He’s just another man,” Gonzales said. “When they announced a split decision, I knew I better have won that fight or something would have been seriously wrong. I attacked him from the start and I got the win.” AP

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USA Basketball plays first scrimmage for Fiba World Cup

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IMA, Peru—Jamaica’s Shelly-Ann FraserPryce broke the 40-year-old Pan American Games 200-meter record Friday.

The two-time Olympic 100 champion clocked 22.43 seconds in the Peruvian capital of Lima. The tournament’s previous record of 22.45 was set by American Evelyn Ashford in Puerto Rico’s capital in 1979. Fraser-Pryce beat Brazil’s Vitoria Cristina Rose, who won silver, and the Bahamian, Tynia Gaither, who took bronze.

“It’s a long time since I’ve broken a record so I feel great about that,” the 32-year-old said.

Fraser-Pryce said that although it took a while to warm up in Lima’s damp, chilly weather, she was focused on her strategy.

“My coach told me to run the first half very hard and I decided to go for it from the gun,” she said. “We were all cold out there but I wasn’t too worried about the cold, I was just worried about everyone behind me.”

She’s still working on getting “a perfect finish,” and her goal now is to break Elaine Thompson’s Jamaican record and win the gold at the world championships.

With her hair dyed in bright green, she celebrated holding up a Jamaican flag after she crossed the finish line at Lima’s Atletico stadium.

“I always love to color my hair and I decided: ‘OK Peru, you definitely need to see some color,’” she said.

“It’s always an honor to represent Jamaica and have some fun. That’s what I wanted to do today.”

97-78. Jayson Tatum scored 17 points for the Blue, which got 14 from Kemba Walker and 12 from De’Aaron Fox. Everybody who was supposed to play did, new US Coach Gregg Popovich got to tinker with a lot of combinations and no one got seriously hurt—thankfully, there was no reprise of the scene like the one five years ago during a USA Basketball exhibition game in Las Vegas, when Paul George suffered a horrible lower leg injury.

In short, that made the night a success.

Everything else was just details.

“It’s the beginning, a new tournament, another World Cup and I think our guys are making progress,” Popovich said. “They haven’t played together before. Showing great effort, doing a good job in a lot of different ways, just trying to get used to each other and form a team.

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PAJON UNBEATABLE IN BMX “It takes all the power you have, and you have to just get in front straight out of the gate.”

She also won gold at the 2011 Pan Am Games in Guadalajara. But she fell in the final race of the 2015 Toronto Games and missed the podium.

“I want our national anthem to be heard worldwide,” said Pajon, who began racing at age 4 and whose triumphs have prompted the opening of BMX circuits across Colombia.

During the race, fans waved the yellow, blue and red national flag and yelled out, “Vamos Mariana!”

Colombia continues to celebrate its cycling victories. Less than two weeks ago, 22-year-old Egan Bernal was crowned as the Tour de France’s youngest post-World War II champion, and its first from South America.

Pajon closely followed Bernal’s victory like many other Colombian fans who were partying even before he crossed the finish line on the Champs-Elysees.

“I’m so happy for him....He motivates us all,” she said. “We have these medals and his name way up high, and all of that pushes you forward.

We have to thank Colombia for believing in us.”

As the tattoo on her arm says, it goes beyond the gold.

“I got this tattoo after my gold in London because I was coming home and everybody was telling me, ‘Oh, here comes the Olympic gold medalist,’ and I think I’m more than that,” Pajon said.

“I can be an example. I can just expand and do good things and be an example for everyone.

I’m not just a medal. I’m a human being trying to do my best.” AP

We’re still in those early stages of trying to get together, figure out how we want to play and learn about each other.”

Next up: Week 2 of camp, starting Tuesday at the Los Angeles Lakers’ practice facility in El Segundo, California. Miami’s Bam Adebayo and Chicago’s Thaddeus Young were cut from the national team Friday night, with Derrick White and Marvin Bagley III moving up from the White squad for next week’s camp.

Those moves leave the list of candidates for the 12-man national team at 17, counting injured players Kyle Lowry and Marcus Smart— both of whom remain in the mix.

“I keep saying, ‘We’re going to be OK,’” USA Basketball Managing Director Jerry Colangelo said. “We’re going to be OK.” White—who plays for Popovich in San

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ARIS—Neymar will miss the start of the French league season as Paris Saint-Germain confirmed Saturday that the Brazil star could leave the club this summer.

Neymar, who has been linked with a move to Barcelona and Real Madrid, was not included in the PSG squad that will start the defense of its league title on Sunday against Nimes.

Neymar, who reported late to training from his summer holidays, has made clear in recent weeks that he wants to leave the club and has been involved in a tense relationship with Sporting Director Leonardo.

Known as a disciplinarian, Leonardo returned to PSG during this off-season. He told French media on Saturday that transfer talks on Neymar with unspecified clubs are “more advanced,” although there is still no done deal.

PSG Coach Thomas Tuchel said at a news conference that Neymar was not fit to play because of a knock he received during training.

Neymar became the most expensive player in the world when he moved from Barcelona to PSG for €222 million (about $250 million) in 2017. But his two seasons with the French champions have been disappointing compared to the club’s huge expectations.

Neymar, who signed a five-year deal with PSG, has missed large chunks of both seasons because of a right foot injury that ruled him out of big games. He has scored some 51 goals in his 58 matches with PSG but was unable to help the club in its quest to win the Champions League, the main reason behind his arrival in Paris. AP

Olympic fencing medalist Race Imboden, meanwhile, took a knee in protest during his team’s foil medal ceremony at the Pan American Games.

The American knelt during the national anthem at the medal ceremony Friday to protest racial and social injustice. He won a bronze medal in the individual men’s foil event and then took gold in the team competition with Gerek Meinhardt and Nick Itkin.

“This week I am honored to represent Team USA at the Pan Am Games, taking home gold and bronze,” Imboden said on Twitter. “My pride, however, has been cut short by the multiple shortcomings of the country I hold so dear to my heart. Racism, gun control, mistreatment of immigrants.”

The 26-year-old competed in London 2012 and Rio 2016, where he won the team bronze medal.

“Every athlete competing at the 2019 Pan American Games commits to terms of eligibility, including to refrain from demonstrations that are political in nature. In this case, Race didn’t adhere to the commitment he made to the organizing committee and the USOPC,” Mark Jones, vice president of communications, USOPC said in a statement on Saturday.

“We respect his rights to express his viewpoints, but we are disappointed that he chose not to honor his commitment. Our leadership are reviewing what consequences may result.” AP

AS VEGAS—The first order of business for USA Basketball on Friday night was thanking its fans, so Donovan Mitchell grabbed a microphone to deliver the pregame message.

He got right to the point.

“We look forward to going out to China, representing the USA, and winning the gold,” Mitchell said.

And now, the first step of getting ready for an unprecedented third straight Basketball World Cup title is complete.

USA Basketball held its Blue-White game to wrap up a week of training camp in Las Vegas, and the Blue squad—the national team candidates, for the most part—had little trouble in beating the White squad composed mostly of young up-and-coming National Basketball Association (NBA) players, IMA, Peru—A tattoo of the Olympic rings on the right wrist of two-time BMX gold medalist Mariana Pajon is now a badge of honor. A second tattoo on her left arm reading “Beyond gold” reminds her to strive for more.

The Colombian raised that same arm and pointed it to the sky triumphantly on Friday when she crossed the finish line to win the BMX racing gold at the Pan American Games.

The victory continued to cement her legacy in a sport that traces its roots to southern California, that Pajon has conquered since she won at the London Olympics in 2012, and again in Rio four years later.

Pajon had another dominant performance in Lima, winning all three of her semifinal runs.

She finished the nearly quarter-mile course filled with bumps and sharp turns in 36.323 seconds, beating Brazil’s Paola Reis, who won silver. Stefany Hernandez of Venezuela took bronze.

“I’ve faced a lot of tough moments this year, so just to be able to be here is wild,” the 27-yearold Pajon said after the race.

Last year, Pajon tore a ligament when she crashed on the first jump of the World Cup in the Netherlands and had to be carried off the course on a stretcher. She couldn’t ride for months. She didn’t know if she was going to walk again, let alone compete. So her first race back felt like an Olympic gold medal.

But she fell again during the recent World Cup in Belgium and arrived in Lima recovering from other injuries.

“Even though I fell at the [Belgium] World Cup, I left with good feelings at that World Cup,” Pajon said. “I arrived to Lima feeling strong, even with microfractures in both arms, stitches in my elbows, sprains in the ankle and waist. I didn’t know if I was going to race here. But the heart is stronger and propels you to come here.”

Pajon separated herself from other riders by pedaling fast from the start.

“The gate is 70 percent of the race,” she said.

NEYMAR LEAVING PSG

JAMAICA’S Shelly-Ann Fraser-Pryce (right) beats Canada’s Crystal Emmanuel in the women’s 200 meters. AP

Antonio, and was getting coached up by him a bit during Friday’s scrimmage as well— finished with 12 points and seven assists for the White team, coached by Jeff Van Gundy.

John Collins also scored 12 and Jonathan Isaac added 11 points for the White squad.

Popovich and his staff will have about two more weeks to figure out which 12 players will be in China on the World Cup roster. The tournament starts August 31 and the Americans open group play on September 1 against the Czech Republic in Shanghai.

Popovich started Mitchell, Walker, Jaylen Brown, Myles Turner and Khris Middleton, though he cautioned about reading much into that. The next five into the game was Tatum, Fox, Brook Lopez, Joe Harris and Kyle Kuzma. AP

MLS teams ponder new ‘no political display’ policy

P TEAM White’s Jarrett Allen (36) goes up for a dunk against Team Blue’s Thaddeus Young (55) during the first half of the US men’s basketball team’s scrimmage in Las Vegas. AP

MARIANA PAJON—winner of the gold medal at the London Olympics in 2012, and again in Rio four years later—cements her legacy in a sport that traces its roots to southern California. AP

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Reed takes 1-shot lead at FedEx Cup opener

ERSEY CITY, New Jersey—Patrick Reed is finally being rewarded with good scores, and he hopes it can be enough to turn around his season. He is winless in the last 16 months dating to the 2018 Masters.

He hasn’t missed the Tour Championship in five years, and started the FedEx Cup playoffs at No. 50, leaving him little room for a bad week. He is in danger of being left off a US team for the first time since his rookie season in 2013.

Reed put himself in position to change his outlook Saturday with a four-under 67, giving him a one-shot lead over Abraham Ancer of Mexico going into the final round of The Northern Trust.

“It’s close and it feels good,” Reed said.

“Feels like this has been coming for some time, and now it’s just go out and stick to the game plan tomorrow and hopefully Sunday we have a chance to win the golf tournament.”

Dustin Johnson and Jordan Spieth, playing in the final group, lost ground on a blustery day at Liberty National.

Johnson, twice a winner of this FedEx Cup playoffs opener, didn’t make a birdie until the 10th hole, and then saw his round fall apart with four bogeys over the last six holes for a 74 that dropped him five shots behind.

Spieth began his round by hitting his tee shot into the water, lost ground and momentum with a sloppy double bogey—his first of the week—

from the fairway on No. 7 and recorded only two birdies in his round of 74. It was his second straight Saturday swoon, and this one could be costly. He is No. 69 in the FedEx Cup, and a strong finish this week could help salvage his season with a trip to East Lake for the FedEx Cup finale.

He still has one round left and a big crowd in front of him.

Reed was at 14-under 199 and will be paired in the final group with Ancer, who had a 68 as he tries to deliver good golf at the right time.

Ancer, who won the Australian Open late last year, is No. 67 in the FedEx Cup. The top 70 advance to the BMW Championship next week at Medinah, but a good finish could sew up a spot

ORTLAND, Oregon—Major League Soccer’s (MLS) new policy that bans political displays at matches is stirring controversy in the Pacific Northwest, where supporters’ culture is often intertwined with politics and social issues.

The Seattle Sounders and the Portland Timbers have banned signs and flags with the Iron Front symbol, which they say has become appropriated by some in the loosely structured antifa movement, at times in the context of violence.

The symbol of three arrows pointing downward and to the left dates back to an anti-Nazi paramilitary organization formed in Germany in the 1930s.

Supporters’ groups maintain the symbol represents opposition to fascism and persecution—a human rights issue, not a political stance.

“With the recent rise in targeted attacks against so many groups—LBTGQ+, immigrants, women, religious groups and more—and the presence of fascists in our stadiums, this symbol represents our firm stance of combating hatred in soccer, our communities, and our world,” the board of directors for Portland’s 107 Independent Supporters Trust said in a statement. The group represents fans of both the Timbers and the NWSL’s Thorns.

The league’s new fan code of conduct, implemented this season, prohibits “using [including on any sign or other visible representation] political, threatening, abusive, insulting, offensive language and/or gestures, which includes racist, homophobic, xenophobic, sexist or otherwise inappropriate language or behavior.”

MLS President and Deputy Commissioner Mark Abbott said the league worked with all its teams to devise the policy. AP in the Tour Championship and make him eligible for all the majors next year.

There’s more. He is No. 10 in the Presidents Cup standings, and Sunday could go a long way in returning to Australia as part of the International team.

“The only thing I have to worry about is still play some good golf tomorrow and that will take care of itself,” Ancer said. “I’m trying not to think about that that much. I know it’s there and I obviously think about it, but I’m just focusing on trying to do everything I can to just play a good, solid round tomorrow.”

A dozen players were separated by five shots going into the final round. Brandt Snedeker had a pair of eagles in his round of 63 that left him two shots behind, along with Jon Rahm of Spain, who had a 69. Justin Rose was among those another shot behind, with Rory McIlroy finishing with two birdies over his last three holes for a 70 to get within four shots of the lead. AP

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Monday, August 12, 2019 C3

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Third time’s a charm for Chris de Chavez

CAROLINE XANDER is quick to recover from the grueling race with her 18-month old son, Xander.

Aussie Reed, Swiss Steffen rule Ironman 70.3 in Lapu-Lapu City

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IM REED of Australia and Caroline Steffen of Switzerland brought their winning act from Subic to Lapu-Lapu City in Cebu on Sunday by ruling their respective divisions in varying fashions in the second Regent Aguila Ironman 70.3 powered by Philam Vitality at Shangri-La’s Mactan Resort & Spa. Barely two months after regaining their respective titles at Ironman 70.3 Subic, Reed and Steffen sustained their charge while flaunting their form again in tough conditions, although the former needed to buck cramps and hang on in the closing run stage largely through crowd support to foil New Zealand’s Mike Philips by less than a minute in the men’s pro side of the 1.9-km swim/90-km bike/21-km run event organized by Sunrise Events Inc. In contrast, Steffen dominated from start to finish and repeated over perennial rival Aussie Dimity Lee Duke by over 12 minutes in their side of the showdown in the event sponsored by Aguila Energy Drink and backed by Province of Cebu, City of Lapu-Lapu and Shangri-La’s Mactan Resort & Spa, Lungsod ng Mandaue and Department of Tourism.

Sharing top honors were Nikko Huelgas and Alexandra Ganzon, who claimed the Asian Elite titles with clockings of 4:24:56 and 5:43:51, respectively.

August Benedicto finished behind Huelgas in 4:32:44 while Taiwanese Hsieh Yu Hung placed third in 436:11 followed by Jorry Ycong (4:41:36), Raymond Torio (4:50:41) and Leonard Rondina (4:51:01).

Great Britain’s Thomas Elliott led the age-group winners, topping the 35-39 bracket in 4:22:43 while Japan’s Erika Tanno took the 30-34 diadem with a 4:49:15 clocking.

“I was cramping the whole of the run part and if it was another race, I’m not sure I’m going to push through.

I got support and managed to hold on,” said Reed, who clocked 4:01:22 with Philips barely falling short of pulling of a stirring reversal in 4:02:09. Tim Van Berkel, also from Down Under, placed third in 4:03:12 while Czech Jakub Langhammer, winner of the first Penong’s duathlon in Davao last month, ended up fourth in 4:03:18 in one of the closest Ironman 70.3 battles ever.

“I just love the place. If you feel happy with the place you race well and the six wins speak for itself,” said Steffen, who dominated in 4:24:10 with split times of 27:04 (swim)-2:17:51 (bike)-1:34:56 (run) to beat Duke, who timed 4:36:48.

Both also staked their claim as king and queen of endurance racing here with Reed nailing his fourth victory after a sweep of the 2015 to 2017 editions and Steffen pocketing her sixth after reigning from 2012 to 2016 in eight Ironman 70.3 staging in the Queen City of the South.

Steffen then took a one-year hiatus to give birth to her son and settled for second last year to Czech Radka Kahlefeldt, who missed defending her crown due to illness.

Reed clocked 4:01:22 with Philips barely falling short of pulling of a stirring reversal in 4:02:09. Tim van Berkel, also from Down Under, placed third in 4:03:12 while Czech Jakub Langhammer, winner of the first Penong’s duathlon in Davao last month, ended up fourth in 4:03:18 in one of the closest Ironman 70.3 battles ever.

CREAMLINE’S Alyssa Valdez breaks the defense put up by Air Force’s Dell Palomata (13) and Wendy Anne Semana. NONOY LACZA

GUMABAO, VALDEZ SHINE FOR SMASHERS C

REAMLINE brushed off an early challenge from a returning Air Force side and went on to fashion out a 25-23, 25-20, 25-15 victory in a strong start to its back-to-back title drive in the Premier Volleyball League Open Conference at the Filoil Flying V Centre in San Juan on Sunday.

Michele Gumabao took charge and fired 14 hits and drew solid backup from Alyssa Valdez, Risa Sato and Jema Galanza as they dished out big games coming off a break following their failed title-retention campaign in the import-laced Reinforced Conference, although

they needed to ride a first set scare from a tough-starting Jet Spikers before completing the straight-set victory.

This actually marked the first time in three conference that Creamline hurdled its opening game assignment after yielding a five-set defeat to Petro Gazz in this conference last year and dropping a straight-set loss, also to the Angels, in this year’s Reinforced meet organized by Sports Vision and backed by Mikasa, Asics and KFC. “It’s so hard. I think every start of the conference, there’s this feeling that you don’t know what to expect from your opponents,”

PSC, Phoenix Petroleum seal deal for Diaz’s Tokyo Olympics gold bid

RIO 2016 silver medalist Hidilyn Diaz (seated, center) is flanked by Philippine Sports Commission Chairman William Ramirez (seated left) and Phoenix Petroleum Services Inc. Vice President Attorney Raymond Zorilla (seated right) and (standing from left) Executive Secretary Salvador Medialdea, Sen. Christopher “Bong” Go, and Phoenix Petroleum Services Inc. President and CEO Dennis Uy.

GILAS POOL BOOKS MODEST FINISH IN SPANISH TOURNEY

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HE national men’s basketball team returns home on Monday after a short but fruitful training camp in Spain that had the Filipinos pitted against top African teams in a pocket tournament.

Gilas Pilipinas is preparing for the Fiba World Cup set from August 31 to September 15 China.

The national team wrapped up its series of tune-up matches with a 73-63 win over Ivory Coast on Sunday at the Torneo de Malaga.

After a dismal loss to Congo, 71-82, on Friday, Gilas Pilipinas drew strength from its tenacity in defense and leaned on the offensive prowess of rookie Robert Bolick and naturalized player Andray Blatche.

For the second straight game, Bolick waxed hot from the field and scattered 19 points to follow up on his 21-point performance in their loss to the Congo national team.

Blatche, who continues to reach peak form for the World Cup, added 18 points with 18 rebounds, four assists and three steals.

The nationals posted its biggest lead at 50-38 late in the third quarter with Gilas playing with only nine players.

Gabe Norwood continues to recover from a groin injury in their first tune-up game against Congo, while Kiefer Ravena, although part of the contingent that flew to Europe, only served as spectator pending the lifting of his Fiba suspension.

Japeth Aguilar and Paul Lee added nine points apiece. The national team had a 3-1 record during its 10-day camp.

The Filipinos first played in Guadalajara and posted convincing victories over Congo (102-80) and Ivory Coast (94-83).

The loss to Congo in their second meeting cost Gilas a chance to meet powerhouse Spain in the four-country tournament. Spain boasts of a slew of quality players including National Basketball Association stars Marc Gasol and Ricky Rubio.

San Miguel Beer’s June Mar Fajardo and Christian Standhardinger and TNT’s RR Pogoy and Troy Rosario are also members of the pool, but their teams are still in the Finals of the Philippine Basketball Association Commissioner’s Cup. Also missing are injured players Marcio Lassiter and Stanley Pringle. Raymond Almazan, meanwhile, failed to secure his visa for Spain.

Ramon Rafael Bonilla

Valdez said. “Air Force, we haven’t seen them play for the longest time. Myla [Pablo] and [Jeanette] Panaga were still with the squad then but now, they’re a completely different team.”

Valdez backed Gumabao with 13 points built on 10 spikes, two aces and a kill block and capped her superb all-around game with 12 digs and seven excellent receptions.

Sato and Galanza, meanwhile, delivered 11 and nine points, respectively, to underscore the Cool Smashers’ balanced scoring.

Dell Palomata matched Gumabao’s 14-hit game while May Ann Pantino added 10 points for the Jet Spikers, who skipped the first conference

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HILIPPINE Sports Commission (PSC) Chairman William Ramirez and Phoenix Petroleum Services Inc. President and CEO Dennis Uy signed P2 million worth of sponsorship for Hidilyn Diaz’s campaign to qualify for the Tokyo 2020 Olympics and get a shot at the country’s first Olympic gold medal.

Diaz is a three-time Olympian from Beijing 2008 and London 2012 and clinched a weightlifting silver medal in Rio 2016.

“I am very happy. I saw a very classical example of partnership between a government and private sector,” said Ramirez during the ceremonial signing on Thursday afternoon at the Guest House of the Malacañang Palace.

Sen. Christopher “Bong” Go and Executive Secretary Salvador Medialdea witnessed the signing of the partnership.

Ramirez also believes that the additional financial assistance from Phoenix Petroleum Philippines, will also help the agency in terms of their responsibility to the other national athletes.

but still showed it can measure up with the best with their veteran-laden crew.

That was evident in the opening frame where they battled back to threaten the Cool Smashers late in the set. But the defending champions kept their poise and cashed in on the breaks to foil their rivals before reasserting their might in the next two.

“We’re really expecting a long and hard match but definitely in the first set, even as a team, we needed to adjust,” Valdez said.

Jia Morado produced 23 excellent sets to help the Cool Smashers nail 48 attack points while Kyla Atienza came through with 22 digs.

“Instead of funding these athletes, it reduces some of our financial responsibility because a private sector is coming in,” he said.

“I am always open to support our athletes and their bid for the country’s first Olympic gold medal,” said Uy, also the presidential adviser for sports. “I wish Hidilyn good luck in all her competitions all the way to the Olympics.”

Phoenix’s sponsorship covers Diaz’s local and overseas training, housing allowance, food, strength and conditioning, local transportation, competition and training uniform and equipment.

“I am very happy and grateful [to them] for supporting me on my Olympic bid,” the 28-year-old Diaz said.

The P2 million is on top of Diaz’s P48,000 monthly allowance from the PSC, aside from the P4.5 million training support fund the agency has given for her training this year.

Also present during the signing were Phoenix Vice President Attorney Raymond Zorilla and PSC Commissioners Ramon Fernandez, Charles Maxey and Celia Kiram.

IF you have been following the Maharlika Pilipinas Basketball League (the Valenzuela Classic) or even the Chooks-to-Go 3x3 league, then you’d know that Chris de Chavez has been one of its breakout stars.

Chris played for Ateneo de Manila and for Norman Black during its fabled fivepeat run and was also my student in my journalism class.

On a deep team, he found it hard to get minutes. But he did show glimpses of his deft touch from the outside.

Inside the classroom, he was a dutiful student and I am certainly pleased to say that he hardly missed any class.

After college, Chris tried his luck out to go pro, and although he was drafted went back home to New Jersey where he hails from.

However, in recent years, he resurfaced and his second coming in the game of basketball has been telling.

“After Ateneo it was definitely a tough transition for me,” Chris shared. “I tried out for a lot of teams but never made it to the final cut. It was 2014 when I decided to give up on my basketball career and go back to the States. I actually gave up the game and lost my passion for three years. When I was home, I was working a lot of odd jobs. I worked at a warehouse, medical labs and even UPS [United Parcel Service]. Basketball, at that point, was just a hobby. Playing recreational ball only once or twice a month.”

However, Chris wasn’t ready to give up on his basketball dream. In 2017, some four years after college, he returned to the Philippines and applied for the 2017 Philippine Basketball Association (PBA) Draft.

“When I decided to make my comeback it was 2017,” de Chavez related. “I was working a night shift job at a medical lab. I worked there for two years and gained 40 pounds during that duration. When I made the decision to give basketball one more try, I quit my medical job during my lunch break. I trained for a month and joined the PBA Draft.”

De Chavez was selected 25th overall (to start off the third round) by KIA Picanto. But nothing came of it.

“I got drafted but went unsigned. But that was a blessing in disguise for me because I was able to see the birth of my daughter. I went back to working in a medical lab.”

At this point, Chris thought it was all over.

But then came a fortuitous call. Around that time, Coach Chris Gavina went back to New Jersey for family matters and gave me an opportunity to play for Valenzuela. A week before that conference started they put me in the lineup. I quit my job. Flew back to the Philippines and the rest is history.”

While playing for Valenzuela, he has become a deadly shooter however with a more well-rounded game. With the Blue Eagles, defense wasn’t one of his strongest suits. Now he plays it with a passion. He opted to shoot more before, but now he showed a keen eye for tough and creative passes. And oh, boy is he clutch!

In short, he has become a better basketball player. Furthermore, he is also representing the country in international 3x3 competition.

“It feels great to finally be in a point in my career that I can really showcase my talent.

Throughout my early stages in my Philippine career I wasn’t able to do so. It’s something I’ve always dreamed about as a basketball player.”

When Chris started to make waves in this rebirth of sorts, I recalled one time when I asked his journalism class to submit a feature article about themselves but as if written by another person. And in the last line of the article he penned about himself, it said, “All Chris ever wanted was a chance to prove himself because he knows he can do it.”

DOMINANT JUVIC Juvic Pagunsan

(center) holds his trophy after another dominant showing in the International Container Terminal Services Inc. Riviera Classic, which he ruled by eight strokes at the Langer course last Saturday for a record fourth straight championship on the Philippine Golf Tour. With him are Riviera Golf and Country Club President and CEO Florian Concepcion and Narlene Soriano, executive director of the organizing Pilipinas Golf Tournaments Inc.

PERFECTION, BILES’S K

ONLY STANDARD Sports BusinessMirror

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| Monday, August 12, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SAM MIKULAK competes on the vault on his way to a modern era-record sixth men’s all-around title, Simone Biles does her gold medal-winning routine and Leanne Wong competes on the beam at the US Gymnastics Championships. AP

New USA Gymnastics head points to ‘positive trajectory’

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ANSAS CITY, Montana—Li Li Leung wants Simone Biles to speak up whenever, however and wherever the Olympic gymnastics champion sees fit.

It’s a freedom that Leung, USA Gymnastics president and chief executive officer, stressed isn’t reserved for the sport’s biggest star. If the embattled organization truly is going to make a cultural shift in the wake of the Larry Nassar scandal, Leung believes giving agency to all involved—from athletes to coaches to parents to club owners—isn’t just encouraged but required.

“Historically, our organization has silenced our gymnasts and I am 100 percent supportive of giving our athletes a voice,” Leung said Thursday in her first extended public remarks since taking over in March. “Our athletes should be able to say what they feel and be comfortable doing so. I understand that we have let down many athletes, we have LI LI LEUNG: I am 100 percent supportive of giving our athletes a voice. AP

let down Simone, and she needs time to heal from that.

If voicing her concerns and her feelings is one way to do that, I am completely supportive of that.”

Biles took USA Gymnastics, the United States Olympic and Paralympic Committee (USOPC) and the FBI to task on Wednesday, angry over the findings in a congressional report that revealed a series of mistakes that allowed Nassar—a former team doctor for USA Gymnastics and Michigan State University—to abuse athletes even after victims began to come forward.

“You literally had one job and you couldn’t protect us,” said Biles, who is among the hundreds of women abused by Nassar under the guise of medical treatment.

Leung understands Biles’s anger and her importance as a leading advocate for change. Leung said the two hugged and chatted briefly about setting up a time to talk in depth after the national championships wrap up.

In a way, Leung’s relationship with Biles mirrors the challenges she faces as the organization’s fourth president and CEO since March 2017. Leung played no role in creating the environment that let Nassar’s behavior to run unchecked

for so long, a path that led to Nassar spending the rest of his life in prison and pushed one of the US Olympic movement’s marquee programs to the brink of dissolution.

Yet Leung, a former collegiate gymnast, came forward anyway in an attempt to steer USA Gymnastics forward.

The organization filed for bankruptcy last November to consolidate the dozens of civil lawsuits filed against it by Nassar victims, a move that also stayed the USOPC’s attempt to strip USA Gymnastics of its role as the sport’s national governing body.

The lawsuits are now in mediation in federal court in Indiana, something Leung hopes can be resolved in a “relatively efficient and short amount of time.” Leung said the organization remains in contact with the USOPC about the steps it is taking to recreate itself.

“We need to take steps to demonstrate why we should remain the NGB of gymnastics,” she said, citing leadership stability, financial stability, athlete safety and rebuilding trust within the community.

Leung said she has spoken with more than 400 members of the gymnastics community —including Nassar

By Will Graves The Associated Press

ANSAS CITY, Montana—The competition isn’t the judges.

Or the rest of the field. Or even the sport she’s dominated for the better part of a decade. Simone Biles conquered all of them long ago.

What drives Biles is the voice in her head, the one that tells the best gymnast in the world that perfection is the only standard, even while attempting skills that no other woman on the planet (and very few men) can match.

That’s why her anger was so palpable during the opening night of the US women’s gymnastics championships on Friday. She shorted her triple-twisting double-flip (a “triple double”) on floor, a mistake that the Olympic champion on the verge of tears. Her uneven bars were messy. The block on her Amanar vault dangerously close to disaster.

That her all-around total of 58.650 led Sunisa Lee by 1.750— putting a sixth national title easily within reach heading into Sunday—is immaterial.

“I still get really frustrated because I know how good I am and how well I can do,” she said. “So I just want to do the best routine for the audience and for myself out here.”

For Biles, that means packing her sets with an unparalleled level of difficulty, a choice she makes not out of ego by respect for her immense talent.

She didn’t have to add the triple-double to the end of her first tumbling pass. She just wanted to see if she could do it. She didn’t have to throw in a double-twisting double-flip dismount on beam.

But after toying with it in practice for the last five years just for kicks, she figured it was time to see if she could do it when it mattered.

The results on Friday were mixed. She was a little too jacked on floor and the inability to control her adrenaline “efficiently” as coach Laurent Landi put it, cost her. She shorted the landing, lunged forward and briefly placed both hands on the ground to steady herself.

“I’ve never fallen on one or anything,” Biles said. “Just to make a mistake like that. It kind of irritated me.”

And it didn’t go away. She practically rolled her eyes after both of her vaults. Her uneven bars—an event she says she’s been fighting with for a while now—lacked their usual crispness.

A smile—maybe of joy, maybe of relief, likely a mixture of both—finally emerged after she drilled her double-twisting double-flip dismount on beam. Such is the world Biles has created for herself that on a night when she finished with the top score three events (vault, floor, beam) and tied for fourth on the other (bars) she seemed more annoyed than elated.

That’s not necessarily a bad thing.

“I’m actually happy she’s so upset because it means she cares so much and we can work with it,” Landi said. “If she would not care, if she would be, ‘OK, it’s just OK. It would be hard to go back in the gym and practice it.”

The Americans are in the process of trying to figure out who will join Biles on the 2019 world championship team. The field looks muddled with the selection camp a month away.

Lee, at 16 one of the youngest competitors in the 17-woman field, put up the top bars score (14.750) and was third on both beam and bars.

Jade Carey, who is eyeing an automatic spot on the 2020 US Olympic team as a vault specialist while also hoping to prove to high-performance director Tom Forster she is among the best American all-arounds, put together four solid routines and is third at 56.100.

Riley McCusker is fourth despite a fall on uneven bars to end the night. Leanne Wong and Trinity Thomas are tied for fifth. Jordan Chiles, a teammate of Biles at World Champions Centre in Houston, is seventh.

Morgan Hurd, the 2017 world champion, appeared to be on her way to bouncing back from an uneven performance in the Pan American Games last week until her floor routine, when she bailed out of her second tumbling pass to fall from second to eighth overall.

“I think it was just a fluke and I’ll deliver better on Sunday,” said Hurd, who stressed she doesn’t believe she’s tired even while competing in her third major competition in a month.

So does Biles. She might opt for an easier beam dismount on Sunday. Otherwise, everything stays the same. That means taking another shot at the triple-double. Another chance to join the two men who have pulled it off in competition. Playing it safe simply isn’t her style. Besides, it’d be boring. She doesn’t do boring.

That’s why she doesn’t take solace in simply coming close. It’s why she lets herself get upset when most other athletes would give themselves a pass for trying something so daunting.

“If she thought otherwise she wouldn’t be No. 1 in the world,” Landi said. “If you think this way, you’re already losing.”

Something Biles hasn’t done for six years and counting. victims—in an attempt to create an open dialogue about what USA Gymnastics needs to become if it wants to survive.

USA Gymnastics is beefing up its staff to deal with the long road ahead.

Current job openings include a chief programming officer, a vice president for Safe Sport and a vice president of athlete health and wellness, a position Leung drew upon her own personal experiences to help create. Leung spent so much of her childhood in the gym that she believes she had the maturity of a 13-year-old when she went off to college. Finding the proper balance between training and personal lives remains a struggle to the current generation of athletes.

“I believe that we have as an organization a responsibility and an obligation to holistically develop our gymnasts and our athletes,” Leung said. “So it’s not just about developing a technically superior gymnast who performs well in the gym but it is about developing a holistic athlete who is best set up for life even beyond the sport.”

It’s part of Leung’s long-term vision for the sport but one only attainable if USA Gymnastics can find a way to restore faith in its mission. Transparency is a key part of the process, and Leung pointed to several changes made in recent months.

USA Gymnastics overhauled its selection procedures for all world championship and Olympic teams, mandating that an independent observer “from outside the gymnastics community” will sit in during the final selection meeting. AP

Lover of the poor

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EAR God, You are compassionate to those who call out to You in their need. With hope in Your mercy, we pray: God in Your goodness, hear our prayer. Fortify Pope Francis, bishops and all who minister to the poor and the marginalized. Animate those commissioned to bring comfort and hope to the sick and dying. Inspirit missionaries who are sent to share the good news in new places. May God empower us to be ambassadors of reconciliation, by the power of the Holy Spirit, through Christ our peace. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

FROM left: Ayala Malls Stylist’s Closet, McJim, Longchamp and Lacoste

Life BusinessMirror

ALL ACCESS: HEART EVANGELISTA CONTINUES TO EVOLVE BEAUTIFULLY D3

Monday, August 12, 2019

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An early Christmas shopping spree T

HE first of the “-ber” months is peeking around the corner. Be a smart shopper or an even smarter gift-giver by doing your early holiday shopping and wrapping.

Ideas for gifts can induce head-spins, so avoid the panic-buying by considering these stylish—and thoughtful—selections.

AYALA MALLS’ STYLIST’S CLOSET THE upscale chain of malls’ series of styling-related activities, Stylist’s Closet 2019 will culminate at the Bonifacio High Street from August 16 to 18, with a roundtable on August 17. It started on July 4 at Greenbelt and Glorietta with a fashion parade, style talks and pop-ups.

The running theme is “Fashion is universal, trends are geographical and style is personal,” with

SECOSANA BAGS GOES ONLINE

WHAT began in the 1980s as simply manufacturer of bags of a concessionaire in various department stores has ridden the wave of e-commerce growth with their online store (www.secosana.com.ph).

It was only in 1997 when Secosana decided to come out with their own brand of bags for Filipino women searching for both quality and affordability. Since then, it has been successful in combining modern, chic designs using quality materials at moderate prices available in most of the country’s top department stores nationwide.

Through the years many of the country’s top tier stars like Claudine Barretto in the ’90s and now Bea Alonzo, actresses and public figures known for their sense of style and strength, have proudly represented the brand.

These women reflect what the Secosana web site proclaims: that the brand encourages women to shine in their lives, express their own personal style, and indulge in their passion for fashion.

Secosana aims to make every woman feel good and express her individuality through the variety of styles and designs the brand offers.

celebrity (and controversial) stylist Pam Quiñones imparting tips on how to shop smart and how to cultivate your own personal style.

Quiñones’s Qurator Studio curated about a hundred brands present at Ayala Malls, including Mango, Topshop, GAP, Springfield, Joe Fresh, Tory Burch, Lacoste, Banana Republic, Marks & Spencer, Steve Madden, Rustan’s private labels, such as Oleg Cassini, and homegrown labels like Penshoppe, Kamiseta, Plains & Prints, Apple & Eve and Maldita.

“This year, Stylist’s Closet packs a stronger punch by bringing more displays, runway preview show and talks closer to the stylish folks across several cities,” says Eunice Velasco, Ayala Malls marketing group manager. “Pam and our lineup of speakers are not only pushing people to shop, but urging them to shop smart. Curated pieces from curated brands, they are not teaching fashion, they are teaching style.”

MCJIM CLASSIC LEATHER FOR the corporate male, something sturdy yet stylish is appropriate. McJim, the 40-year-old leather goods label, carries quality accessories, such as belts, bags and wallets.

The belts, with distinct metal buckles, come in basic dark brown, basic modernist black and reversible minimalist. There are messenger bags, body bags and gadget bags. The wallets, meanwhile, are in leather and canvass.

Look professional, stylish and smart at the same time with the leather selections that you desire, as you climb up that corporate ladder.

LONGCHAMP LA VOYAGEUSE THE chic French brand recently unveiled its fall/ winter 2019 collection of bags, mounted on stalls and draped over mannequins wearing its in-season dresses. The accessories and the bags are inspired by a Parisian en route to New York, and what she would wear and bring from the City of Lights to the City That Never Sleeps.

The new handbag collection, called La Voyageuse, are emblazoned with LGP, Longchamp’s new signature print in bold graphics, inspired by Bauhaus artists and New York’s maze-like grid city streets. It’s for the wandering woman, so the design is modeled after portable vanity cases. There are compact, foldable sizes, as well as large ones for long journeys.

Coming in a myriad colors, the bags are also made of leopard-printed calf hair, crocodile-printed leather and smooth leather all embossed with the now-familiar LPG logo. The bags are exclusively available at Rustan’s Makati, Rustan’s Shangri-La, Rustan’s Cebu and Greenbelt 5.

LACOSTE TENNIS REMIX TENNIS as the most stylish sport was reinforced as this brand served a collection inspired by RolandGarros. Incorporating the dress codes of tennis and fashion, the pieces can go from the court to the streets. Mannequins and models wore the brand’s key looks, such as its timeless stripes, the structured lines of a tennis court and prints of tennis balls, all in splashy colors and with the ubiquitous crocodile icon.

Score style points with this French brand’s men’s polo shirts, jackets, pants and caps, as well as its women’s line of pleated skirts, striped collared shirts and color-blocked jackets. n

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Style

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Monday, August 12, 2019

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Today’s Horoscope

MADE from exfoliating walnut shells, energizing ginger root extract from India, and Community Trade softening sugar from Paraguay, The Body Shop’s Totally Tangled Ginger Body Scrub gently exfoliates so skin can better absorb moisture.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Imani Hakim, 26; Cara Delevingne, 27; Pete Sampras, 48; Peter Krause, 54.

THE lightweight Totally Tangled Ginger Body Yogurt with energizing ginger root extract from India, moisturizing shea butter from Ghana, and conditioning organic almond milk from Spain, leaves skin hydrated, smooth and soft.

HAPPY BIRTHDAY: Be passionate about your plans, and be willing to put in the work to ensure that you turn your dreams into a reality. A change that you work for will be far more satisfying than something handed to you by someone who will eventually want something in return. Step into the spotlight and make your voice heard and your actions count. Your lucky numbers are 2, 6, 14, 21, 29, 37, 43.

THE Carrot Wash Energizing Face Cleanser and Carrot Cream Nature Rich Daily Moisturiser are made from 100-percent recyclable packaging.

Beauty goes vegan T HE Body Shop again draws beauty from nature with its new Carrot Range and Totally Tangled Ginger Special Edition for healthy, glowing skin.

Carrots are a known source of natural antioxidants and vitamin A with energizing, awakening properties that give skin a healthy glow. The Body Shop’s Carrot Range is enriched with organic carrots that are too beautifully crooked that come from a British family business, and Community Trade Aloe Vera from Mexico that helps soothe and hydrate the skin.

Lather up with the Carrot Wash Energizing Face Cleanser that leaves skin feeling cleansed, smooth and healthier-looking. Give your skin some extra treat with the Carrot Cream Nature Rich Daily Moisturiser for extra hydration and protection against daily aggressors.

MEGHAN, Duchess of Sussex, smiles while sitting in the Royal Box on Centre Court to watch the women’s singles final match between Serena Williams, of the United States, and Romania’s Simona Halep at the Wimbledon Tennis Championships in London in July. AP

LONDON—The Duchess of Sussex is launching a clothing line to support a charity that helps unemployed women find work.

Meghan said the workwear collection would provide the charity Smart Works with continuity. The racks of clothing, and array of shoes and bags Smart Work has now come in mismatched sizes and colors, she said.

She has teamed up with designer and friend Misha Nonoo, and British retailers Marks & Spencer, John Lewis & Partners, and Jigsaw to create the collection. “Many of the brands agreed to use the one-forone model: for each item purchased by a customer, one is donated to the charity,� Meghan wrote in the September issue of British Vogue, which she guest

TAURUS (April 20-May 20): As much as a change will tempt you, slow down, think things through and double-check all the facts and figures before you proceed. Information will be vital in making choices that are best for you. ★★★★★

GEMINI (May 21-June 20): Stick close to home and to those you know you can trust. Refuse to let someone mesmerize you with hype or an unrealistic proposal. An opportunity to make a positive change at home or to the way you live is encouraged. ★★★

CANCER (June 21-July 22): Focus less on outsiders and more on those close to you.

Whether for work or a personal relationship, keep peace and encourage joining forces to reach a common goal. ★★★

LEO (July 23-Aug. 22): If you can visualize what you want, you can map out a plan that will help you achieve your goal. Opportunity is apparent; embrace the challenge that goes hand in hand with success, and you will reap the rewards.

Romance is highlighted. ★★★

THE soap-free Totally Tangled Ginger Shower Gel is designed to cleanse the skin, leaving it feeling and smelling fresh.

VIRGO (Aug. 23-Sept. 22): Socialize, travel and engage in experiences that are sure to teach you something. A relationship you have with someone will take a turn dependent on a conversation that will determine if you are heading in a similar direction. ★★★★★

The Body Shop’s Totally Tangled Ginger Special Edition, on the other hand, is a range of fun, fragranced body care products enriched with ginger root extract from India. The aromatic and zesty notes in the range—ginger roots and pomelo zest in its top notes, clove buds and rose in its heart notes, and dry vanilla in its base notes—complement each other, leaving the skin feeling moisturized and layered with a vibrant scent.

Give your skin these vegan beauty treats, and enjoy a healthy and glowing skin with The Body Shop’s Carrot Range and Totally Tangled Special Edition Range available in all The Body Shop Stores.

The Body Shop now accepts SM Advantage Card for points earning and redemption, and SM and Sodexo premium pass in all The Body Shop stores nationwide. n

LIBRA (Sept. 23-Oct. 22): Take a bold stance if you want to maintain equality with those you interact with most. Whether it’s at work or at home, balance and structure will be necessary along with honesty and trust. Don’t jump to conclusions; ask questions. ★★

SCORPIO (Oct. 23-Nov. 21): SYou’ll be intrigued by someone flaunting a lavish lifestyle. Take a closer look, and you’ll discover the stress that goes along with all the little extras. Concentrate on peace of mind, enjoying what you do and the people you care about most. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Know what’s expected of you before you get involved in something that could be expensive. Protect against foolish expenditures or trying to impress someone. You cannot buy love, but you can earn it by being fun to be with and sincere. ★★★

Meghan launching clothing line for UK women’s charity

BY DANICA KIRKA The Associated Press

ARIES (March 21-April 19): You’ll be torn between the choices you are given. Your work and personal lives will not coordinate well with each other. Change can be useful, but it has to be on the right terms and for the right reason. ★★

CAPRICORN (Dec. 22-Jan. 19): Change may be something you want, but if it disrupts a meaningful relationship, you might be best to compromise for now. Keeping the peace will be less emotionally and financially costly in the long run. Invest in something personal. ★★★

edited. “Not only does this allow us to be part of each other’s story, it reminds us we are in it together.�

Smart Works provides training and interview clothes for unemployed women. The charity says it has helped more than 11,000 people. Meghan has visited the organization privately since being made its patron in January. She said Smart Works is seen wrongly as a “makeover� program that transforms a woman into a new person with donated clothes.

Meghan described it in the magazine as a network of women seeing to empower other women. “This is not a fairy-tale,� she wrote. “If it’s a cultural reference you’re after, forget Cinderella—this is a story of Wonder Woman, ready to take on the world in her metaphorical and literal cape.�

Designer Nonoo is the person credited with organizing the blind date that introduced Meghan and her future husband, Prince Harry.

AQUARIUS (Jan. 20-Feb. 18): Look for partnerships that are based on equality and give-and-take, and focus on achieving something mutually beneficial to both of you. Love and romance are highlighted, along with a change that can help you raise your standard of living. ★★★

PISCES (Feb. 19-March 20): Helping others will be satisfying, but don’t let anyone take advantage of you. Offer only what’s feasible, and save something for yourself. A change to the way you do things should be considered carefully. ★★★★ BIRTHDAY BABY: You are trendy, friendly and opportunistic.

You are engaging and persistent.

‘yellow-bellied’ BY EVAN KALISH The Universal Crossword/Edited by David Steinberg

ACROSS 1 Hindu mystics 7 Plastic food item on a set, say 11 That guy 14 Element added to salt 15 Caboose, for a train 16 State ~20 miles from Spokane, Wash.

17 Left work before 5 20 Challenging 21 Agrees nonverbally 22 Swirled treat, informally 23 Controversial performance booster 25 Disposable hair covers 26 Not in eavesdropping range 31 Instruction sequence 34 Former Bruin Bobby 35 “___ had it!�

36 Baled material 37 Neckwear organizer 41 X-___ (Dark Phoenix heroes) 42 Old Spice competitor 43 Crispy sandwich, for short 44 Alternative to a mailed greeting 46 Protected natural space

51 52 56 58 60 61

Often-brown eye part Pitcher’s place to warm up Nonprotruding navel Oven for ceramics Paltry Entrenched anxieties, or a hint to the word hidden in 17-, 26- and 46-Across 64 What you need to row, row, row your boat 65 Legal wrong 66 Mr. Met, for the Mets 67 Ave. crossers 68 Word before a sale price 69 Provides food for DOWN 1 Many Punjabis, religiously 2 Proved victorious in 3 Love to pieces 4 Stunt that might accompany a standing O 5 Stamp-pad stuff 6 “Already watched that movie�

7 Nudge 8 Officials calling fouls, for short

9 10 11 12 13 18 19 24 25 27 28 29 30 31 32 33 38 39 40 45 47 48 49 50

Buffoon Like better Southern Japanese metropolis Way to sit by Spread in coleslaw Dunderhead Liberal ___ college Remove from power Drug-busting cop Strong suit Victorian or Prohibition No longer interested in Care for, as a garden George Bernard ___ Lyft alternative Makeup pencils Long-legged bird Keebler being Topple (over) Least likely to flip out Melting icicle sound Willfully misleads Ready, willing and ___ Only hip-hop group that performed at Live Aid

53 54 55 56 57 58 59 62 63

Treaty goal Proofreader’s catch Tree houses?

Altar vows “Coolio!�

Marx of Marxism ___-bitty Incomprehensibly long time Airspace management agcy.

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Monday, August 12, 2019

Heart Evangelista continues to evolve beautifully

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ESPITE taking on many roles, Heart Evangelista is a woman in control.

We see her sit as one of the celebrity judges in StarStruck, the reality search program of GMA that is out to discover the latest gaggle of showbiz hopefuls that the network will train and launch into the big leagues.

Evangelista also takes her role as governor’s wife very seriously. Her husband Chiz Escudero, former senator turned governor of Sorsogon, has just started his term in this progressive province of the Bicol region, and Evangelista is already making her presence felt in her unofficial duty as Sorsogon’s first lady.

A known animal lover and advocate, Evangelista has announced recently that she is building an animal welfare facility in Sorsogon. “We have already pinpointed a vacant lot where we will build this facility. Some of you know that I have a soft spot in my heart for animals, and it has been a longtime dream of mine to be able to continue my support to champion their welfare,” she told us.

We have known Evangelista for many years now, and we share a common love for dogs. When she was still in her teens and dating one of her now ex-celebrity boyfriends, we recall she was so fond of this American Cocker Spaniel named Kayla. And there was also a time when she had around four of these little all-white toy breeds when she decided to live alone.

Not long ago, Evangelista started to embrace the larger breeds and she now has a German Shepherd named Yogi. She has also adopted and fallen in love with an aspin (short for asong Pinoy) she named Panda, which has become sort of a celebrity dog.

For many years now, Evangelista has been a staunch supporter of the programs of the Philippine Animal Welfare Society, a nonprofit animal shelter.

Perhaps her long-standing collaboration with this organization has given her the big push to put up her own shelter in Sorsogon.

“I am taking it a day at a time. We will be providing services, such as neutering, spaying, tagging and vaccinating the dogs in the communities. We will also prioritize educating people, both the young and the adults, on the responsibilities of being a pet owner,” she added.

Evangelista flies to Sorsogon whenever she finds time from her busy schedule as a celebrity.

She is the face of the Kamiseta brand and her paintings are even included in the designs the women’s apparel brand is producing. She has also partnered with the homegrown cosmetics brand Happy Skin, unveiling a new lipstick collection

Cyrus and Hemsworth split after less than year of marriage LOS ANGELES—Miley Cyrus and Liam Hemsworth have separated after less than a year of marriage. A representative for the singer said on Saturday the pair decided a break was best while they focus on “themselves and careers.”

Cyrus, and Hemsworth, who starred in The Hunger Games films, have been an on-and-off again couple for more than a decade.

They married in December.

The representative said the pair will remain “dedicated parents to all of their animals they share.” They requested privacy.

The entertainers both starred in the 2010 romantic drama The Last Song.

The split was first reported on Saturday by People magazine. AP featuring six custom colors in matte, mousse and gloss. Very soon, Evangelista told us that she might start working on a fashion book project.

As an actress, she has wrapped up work for her international project which brought her to China and the United States. “I heard it will have its world premiere in North America before the year ends. Then we start Book 2 after that.”

She makes sure that there is always balance in her life. And she continues to assert the importance of loving oneself and taking care of oneself. “Eating right and having enough sleep are both important.

And so is exercise. I also moisturize a lot.” She shared with us one of her must-haves: Thiocell, a glutathione complex dietary supplement that comes in chewable lozenges form. She takes two every morning before she starts her day.

“Being a celebrity, an artist and a politician’s wife is not easy. Everything is about priorities and proper time management. And balance. I cannot stop stressing about the importance of knowing how to balance your activities. Do what makes you productive and happy. Take time to rest and pause and evaluate. Make time for quiet time. Reach out to people, to family to friends, even to strangers. Be nice.

Be good. Be kind. Make every day matter.”

Heart Evangelista has certainly evolved into an even more amazing person. She continues to surprise us with her beautiful heart. n

KEN, RITA HEADLINE BACK-TO-BACK DIGITAL SHORTS THE road to forever continues as Barangay LS 97.1 unveiled another kilig offering through a series of digital short films starring two of the most versatile and sought-after GMA stars: Rita Daniela and Ken Chan. Dubbed as #RitKenOnLSForever, the dynamic duo took social media by storm with the music video of Barangay LS’ official theme song “Tayo ay Forever,” which was posted on GMA’s Facebook page, with more than 1 million views to this date.

Following the release of “Tayo ay Forever,” netizens were also treated to the online premiere of The Start of Forever on August 5. The story was directed

by Vincent Gealogo, GMA Network Post Production assistant vice president for operations and concurrent head of digital cinematography and standards section.

It recorded more than 1 million views in less than a week.

The short film featured the sweet story of Carla (Rita), a wedding planner, and Mark (Ken), a wedding photographer. The two meet while organizing a wedding when suddenly Mark finds himself falling for Carla, but is unable to show his true feelings.

Ken shared that it has always been his dream to star in a digital project and now that has been granted, he couldn’t be any more thankful to have Rita as his costar. “Isa sa mga wish ko na magkaroon ng digital short film kaya excited ako, lalo na kaming dalawa ni Rita ang magkasama, at gumawa kami ng istorya kung saan makakarelate at makaka-connect ang lahat.”

“I’m actually excited kasi it’s my first time to try something like this and gusto rin naming i-share ito sa lahat ng tao, lalo na sa millennials,” Rita added.

Viewers can’t get enough of Rita and Ken’s tandem, which helped fuel the series My Special Tatay to a successful run from September 2018 to March 2019.

Majority of the comments laud their chemistry and expressed excitement on another kilig story that’s in store for them in the second short film, which will be about waiting and the right timing for love.

The short will drop on GMA’s Facebook page (www. facebook.com/GMANetwork) today, August 12.

KEN CHAN and Rita Daniela

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Monday, August 12, 2019

Style

www.businessmirror.com.ph

The beauty business and the significance of having celebrity endorsers

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HAT makes a celebrity endorser effective? I ask this because nearly every brand has an endorser or influencer singing praises about its merits. Can a celebrity actually make people buy a brand’s products or pay for its services?

Homegrown beauty brand Beautéderm Corp., which operates out of Founder Rhea Anicoche-Tan’s hometown in Pampanga, is a company that taps celebrities to promote its products. Tan’s endorsers include senior stars Lorna Tolentino and Sylvia Sanchez, other stars and even politicians. There are nearly 40 Beautéderm ambassadors right now.

The difference is that most brands tap social-media influencers while Tan mostly chooses celebrities who are in show business.

This is mostly for name recall, as Beautéderm is marketed nationwide and in many areas of the country, people would still go for those whose faces they see on TV and the big screen.

Tan’s business model is such that she doesn’t just sell beauty products but also provides opportunities for others to make money by reselling these products. The best sellers are the sets and the soaps. I love the soaps that Tan always includes in the

loot bags during Beautéderm press conferences.

Its flagship brands include Beautéderm Skin Care Sets for both the face and body; Reverie by Beautéderm Home which includes a collection soy candles and room sprays; and Beautéderm’s perfume collection which includes Origin Senses perfumes for men, among others.

Beautéderm recently introduced its new ambassadors from ABS-CBN’s Star Magic, namely Matt Evans (in photo, from left), Kitkat, Ejay Falcon, Ria Atayde, Carlo Aquino, Jane Oineza, Ryle Santiago and Alex Castro.

Carlo Aquino is a seasoned actor who is now a favorite leading man in TV dramas and movies. He recently starred opposite Nadine Lustre in the Viva-HOOQ coproduction Ulan and will costar with Maine Mendoza in Isa Pa With Feelings.

Matt Evans was in the first season of the reality television show Pinoy Big Brother: Teen Edition. Ejay Falcon has starred in Pasión de Amor, The Greatest Love and The Blood Sisters. Alex Castro is a singer and actor who is currently a board member-elect in the Fourth District of Bulacan.

Ryle Santiago is a part of It’s Showtime’s boy group Hashtags. Jane Oineza started as a child star on Goin’ Bulilit and won an International Emmy nomination in 2012 for her performance in the “Manika” episode of Maalaala Mo Kaya. Kitkat is a singer and comedian, and an Aliw awardee.

Ria Atayde is a rising star who has appeared on The Hows of Us and Halik, and is, of course, the daughter of actress Sylvia Sanchez and the sister of Arjo Atayde.

Carlo, Matt, Ejay, Alex, Jane and Ria are the brand ambassadors for Beautéderm products while Kitkat is a brand ambassador of Slender Sips of RD Healthy Living Corp., a sister company of Beautéderm Corp. n

Give your wrist some glam LUXURY Swiss jeweler and watchmaker Charriol has unveiled a new line of feminine and refined timepieces: MarieOlga, a jewelery watch that has been crafted with style, artistry and attention to detail.

The watch is named after Marie-Olga Charriol, wife of Founder Philippe Charriol and head of public relations. Devoted to her family and passionate about her work, Marie-Olga perfectly represents the multifaceted modern woman. Her natural elegance embodies the feminine, glamorous spirit of the brand.

The Marie-Olga timepiece cleverly brings together its

namesake’s passions for horlogerie and horse riding, thanks to a unique detail: the decorative manille hook, a sophisticated horseshoe-shaped element connecting the strap to the case.

In addition, the design includes a multistrand bracelet featuring the brand’s signature finely twisted steel cable, a rose gold or yellow gold case, and a black or white dial.

The hours are marked with diamonds or elegant, oversized roman numbers, and the bezel and hook of some variants are adorned with 148 white diamonds for added luxury and sparkle.

Other special details include a discreet opening and locking mechanism, hidden at the point where the strap meets the top of the watch case, and the smooth, pebble-like case, which is gently rounded to ensure a perfect fit on the wrist.

BusinessMirror

www.businessmirror.com.ph

Monday, August 12, 2019 E1

NEW LAWS ON DATA PRIVACY AND SECURITY ARE COMING. IS YOUR COMPANY READY?

WHAT MEN CAN DO TO BE BETTER SPONSORS FOR WOMEN

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Why? Research from the Center for Talent Innovation reports that a full 71 percent of executives have protégés whose gender and race match their own. That means that women and minorities don’t benefit from sponsorship like their male colleagues do.

Companies need to do a better job of developing men to be champions for diverse talent.

Here are eight key guidelines to share with men seeking to sponsor women:

Identify high-potential talent. Look for people who

bring different experiences and

perspectives from your own, and also have the potential and ambition to make a larger contribution.

2

Determine the best role.

Identify high-visibility opportunities that could benefit from your protégés’ talents and experiences.

3

Position the role. Ensure that

your protégés understand that the organization values and thinks highly of them. Many women appreciate this type of encouragement and may be reticent to take a challenging role without it.

WWW.FREEPIK.COM

DVOCATING for women’s advancement at work is integral to the improvement of financial results and diversity in the workplace. Yet, data from the Working Mother Research Institute finds that while 54 percent of men had a career discussion with a mentor or sponsor in the past 24 months, only 39 percent of women did.

1

opportunities for 4Provide development and support.

Ensure that people in your organization invest resources to give protégés the skills and experiences they need.

5

Pave the way. Introduce your

protégés to powerful people in your organization or industry, especially if they can serve as crucial professional connections.

protégés receives 6Ensure feedback.

A 2006 McKinsey

study found that women don’t receive the same direct, candid commentary on their performance as their male counterparts do. Make sure that your protégés get clear performance assessments and guidance on how to improve results.

7Help protégés persist.

Make sure that failures or naysayers don’t derail your protégés. That doesn’t mean sheltering them from adversity;

it means ensuring that the organization is understanding if everything doesn’t work out the first time.

promotions 8Champion and recognition.

Advocate for raises, promotions and recognition to deserving protégés.

Rania H. Anderson is an executive business coach. David G. Smith is a sociology professor at the United States Naval War College.

Executives’ english skills affect How Americans’ biases are changing over time the outcomes of earnings calls

By Tessa E.S. Charlesworth & Mahzarin R. Banaji

I

C

By Rania H. Anderson & David G. Smith

By François Brochet, Gwen Yu & Patricia Naranjo

NVESTMENT has become global. That’s not news, but the extent of the phenomenon might surprise you: Foreign funds today hold more than eight times more stock in listed companies than they did in 2000.

To reach this increasingly international group of investors, many companies are turning to live earnings conference calls. The stakes are high: Earnings calls often prompt large trading volumes and stock-price movements. As a result, managers often receive extensive coaching on how to run them, but even with all that coaching, many still don’t grasp the important cultural factors that affect how their calls are received.

In a recent study, we analyzed how managers discuss financial news during earnings calls and discerned an important pattern: Even when the underlying news being reported is a constant, markets often react differently depending on the language fluency of the person leading the call.

Like it or not, when it comes to business communication, English is now the standard. Executives around the world use English when communicating with their investors today, and an increasing number

of executives are non-native English speakers. How well they speak the language has meaningful capital-market consequences. We demonstrated this by reviewing the transcripts of earnings calls conducted by more than 4,500 non-US firms, all of which hosted conference calls in English between 2002 and 2010.

When we analyzed the data, we found that executives that used erroneous expressions or failed to speak clearly (by, for example, using the passive voice or negative compounds) suffered real consequences, including lower trading volumes, restricted price movements and inconsistent analyst forecasts.

Our research shows that earnings calls matter, and for different reasons than most people assume.

The news being reported in the calls is obviously important—but so is the manner in which the calls are conducted. Because English is now the norm in the business world, executives conducting these calls need to make sure they communicate clearly.

François Brochet is an associate professor of accounting at Boston University. Gwen Yu is an associate professor of accounting at the University of Michigan. Patricia Naranjo is an assistant professor of accounting at Rice University.

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

A

S early as the 1930s, surveys such as those from Gallup and Pew Research have documented long-term changes in attitudes toward social groups, including those based on gender, sexual orientation, race and ethnicity. These attitudes and beliefs, measured via self-reports on surveys, are widely described as “explicit,” because they reflect conscious recollection and controllable reports of the contents of one’s mind.

But self-reports have limitations. Respondents may be unwilling to divulge their true attitudes. In response, scientists have developed methods to measure relatively less conscious attitudes, known as “implicit” attitudes. The most widely used test of implicit attitudes is the Implicit Association Test. The IAT uses people’s response times to certain stimuli as an indirect measure of their attitudes toward those stimuli.

Until now it was assumed that it would be more difficult to change implicit attitudes than explicit ones. But our new research shows that the implicit attitudes of a society can and do change durably over time—although at different rates and in different directions depending on

the issue. Drawing on data from over 4 million tests of explicit and implicit attitudes collected between 2007 and 2016, we assessed Americans’ implicit attitudes toward various issues.

Our study reveals that implicit attitudes about sexual orientation showed the fastest change, with anti-gay bias decreasing by 33 percent over the 10-year period. Implicit attitudes toward race and skin tone have also moved toward neutrality, by 17 percent and 15 percent, respectively.

Meanwhile, negativity toward the elderly and people with disabilities has shifted by less than 5 percent since 2007. The change has been so slow that forecasts suggest it could take well over 150 years for either bias to reach neutrality.

Whatever the causes of these changes in implicit attitudes, business leaders seeking to attract and maintain the best talent for their organizations must not forget the subtle forms of bias and discrimination that exist today. Nevertheless, the fact that some biases have ebbed significantly in recent years is cause for hope: It shows that even seemingly automatic biases can and do change.

Tessa E.S. Charlesworth is a doctoral student at Harvard University. Mahzarin R. Banaji is a psychology professor at Harvard University.

By Andrew Burt

OMPANIES today are often not equipped to sell secure software, because they are not incentivized to do so, and because consumers are in no position to demand it. But this market failure won’t last long.

Governments are in the process of passing new laws to ensure higher standards for software security and data privacy. The era in which tech companies inadequately test their software for security and privacy vulnerabilities is coming to an end. Last year, for example, California became the first US state to enact basic standards for software used in the “Internet of Things.”

And various proposed state laws around the country would raise the penalties for privacy or security failures. Similar efforts are ongoing around the world, from India to Brazil.

Software companies and their corporate customers shouldn’t wait to take action. To start with, they should not only gauge their level of security in terms of the patches they install or the incidents they respond to, but also consider the labor-intensive, ongoing processes they devote to preventing privacy and security vulnerabilities. That means that the time devoted to testing software and maintaining it once it is deployed will become central metrics in securing enterprise data.

Companies that create and deploy software can ready themselves by adopting two additional strategies.

First, they must focus on embedding security processes into the software design and deployment life cycle as early and as often as possible. Companies that purchase software should continuously track their attack surface and ensure that the teams appointed to simulate attackers are actively probing company networks and testing security readiness.

Second, companies need to connect the resources they spend on privacy and security to the volume and complexity of the code they seek to protect. As the number of lines of code in any given software system grows, or as its user base expands, organizations will have to increase their efforts to protect the privacy and security of their customers.

Soon, a less than robust software security strategy will become more than a public relations liability; it will become a serious legal vulnerability. It’s best to be prepared.

Andrew Burt is chief privacy officer and legal engineer at Immuta.

E2 Monday, August 12, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

DepEd, BSP push financial literacy lessons to students

By Roderick L. Abad

A

@rodrik_28

Contributor

MID reports on government’s ongoing crackdown against investment scams victimizing even highly educated Filipinos, the state’s education and banking arms have renewed their call for financial literacy to be taught to grade school children, especially now that various digital interventions are already available to capture their interest to learn.

The rise of numerous illegal investment companies luring people to bet their hard-earned money for a whopping and oftentimes incredible return, according to the Department of Education (DepEd) Undersecretary Diosdado M. San Antonio, could be attributed to the absence of a high level of financial literacy that leads victims and would be victims to make decisions that are not eventually sound in the end.

“So we have to start in grade schools in awakening our youngsters to the thought that one has to be financially literate to survive and succeed, and enjoy a happy life in the future,” he said at the launch of Maybank Group’s Cashville Kidz and scholarship program at the Maybank Performing Arts Theater at the Bonifacio Global City in Taguig on Wednesday.

Considering that 45 percent of the Filipino population at present is between the zero to 19 age bracket, and growing at a rate of about 2 percent annually, instilling in them proper managing finances skills, which are seen helpful to them in the future, is encouraged at an early age.

“This generation will grow up to carry the responsibility of building a more productive, more progressive and more inclusive Philippines.

Many of them will become leaders in industry, politics and business,” said the Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier. “Now is the time to equip them with financial literacy, the set of knowledge and skills necessary for making wise financial decisions.”

Studies have shown that people who develop sound financial habits at a young age are more likely to adhere to these throughout their lives, in contrast to those with low levels of financial literacy who are less likely to save, accumulate less wealth, incur more costly loans and transact in a high cost manner.

Poor financial decisions, likewise, have a long-lasting impact on their families and society as a whole.

Low financial literacy was, in fact, considered as one of the factors that aggravated the global financial crisis in 2008.

Such compelling data drove the BSP to beef up its advocacy for financial education (FinEd). Its

partnership with the DepEd, for instance, aims to integrate FinEd in the K to 12 curriculum. They have also codeveloped learning tools, among which are 10 videos and 27 lesson plans, ready for use by 800,000 teachers for classroom instruction for about 24 million learners in 47,000 public schools.

“These tools are also being used for training the teachers and nonteaching personnel to hone their own financial management skills,” she said, while citing that their collaboration with the DepEd is anchored on the view that FinEd is a critical long term investment in human capital.

“It can empower and equip young people with the knowledge, skills and confidence to take charge of their financial lives, and build a more secured future for themselves, their families, and the country as a whole.”

Apart from the globally recognized integration of FinEd in the basic education system within a formal curriculum, there are other efficient ways to inculcate and nurture sound financial behavior among future adults. Noteworthy of which are the interventions that leverage on the youth’s fondness for everything digital.

“Like their counterparts around the world, the Filipino youth are digital natives—adept at using technology in their daily routines. Even small children can easily navigate smartphones, notebooks, laptops and smart TVs to suit their needs. It makes sense that FinEd should also be aided by digital tools and learning processes. This is also quite necessary as the youth gets exposed to an increasingly complex ecosystem of digital financial services and providers,” Fonacier explained.

The BSP deputy governor pointed out the importance of support from the private sector to help them fulfill their work as chair and secretariat also of the Financial Inclusion SteeringCommittee that is tasked to implement the National Strategy for Financial Inclusion (NSFI) under Executive Order 208, Series of 2015.

The NSFI, which includes financial education as a key pillar, has served as the platform for public-private partnership to promote shared objectives and create multiplier effects in both financial

Shahril Azuar Jimin, chief executive officer of Maybank Foundation, gestures as he delivers his message at the launch of financial education and scholarship program of Maybank Foundation.

NONOY LACZA

inclusion and FinEd. “Such a collaboration is critical because the FinEd challenge is great,” she said, referring to the result of their study that shows the lack of knowledge among people of legal age when it comes to managing finances.

Based on the Financial Capability Survey conducted by the BSP with the World Bank in 2015, the majority of Filipino adults could only answer 3 out of 7 financial literacy questions. This means that most of them had difficulties in understanding compounding interest, the impact of inflation on prices, comparing bargains and risk diversification in investments.

The study, likewise, found out that only 2 percent of Filipino adults could answer all the seven questions correctly, while 10 percent had zero correct answers.

“So, evidently, adult Filipinos of today lack the specific knowledge required to make informed financial decisions. We hope to learn from our mistakes and change the situation for the Filipino youth as they go through the education system and receive FinEd interventions from multiple sources, such as the Cashville Kidz and other private-sector initiatives. We hope to see them make better financial decisions, become more empowered, and more financially healthy than the current generation of Filipinos,” Fonacier said.

Themed “Lighting up a Brighter Financial Future for the Next Generation of Youth in the Philippines,” Cashvville Kidz is Maybank’s program aimed at addressing the need for FinEd in local schools and is in line with the national agenda of the BSP in promoting financial literacy and inclusion among school-aged children. It shows a creative eightepisode animated cartoon series designed to teach elementary children the importance of money, in order to prepare them to meet future financial challenges.

“The age of digitization presents many challenges for the future generation. One of them seem to be the lack of sound financial management skills. Through CashvilleKidz, we hope to strongly contribute in

educating young schoolchildren on the importance of money management habits in an exhilarating experience,” said Shahril Azuar Jimin, CEO of Maybank Foundation.

“The blend of digital tools with traditional classroom setting can make learning fun and, consequently. generate greater interest from students,” added Fonacier.

Following its successful run in Malaysia and Cambodia, this initiative, in partnership withMoneyTree Philippines, will be piloted in eight elementary schools in Metro Manila for school year 2019-2020. It targets 1,200 students from Grades 4 to 6 who will be under trained teachers.

“Like in all countries where Maybank operates, one of the key guiding principles for the bank is to grow with the community, advocating financial education as a tool to provide a holistic financial solution, in line with our mission of humanizing financial services,” said Maybank Philippines President and CEO Choong Wai Hong. “We are confident that the program will leave an indelible mark in the communities we serve in the country.”

Seeing the need to educate the young populace on financial literacy, the DepEd and BSP throw their support to Maybank’s Cashville Kidz initiative to ensure that Filipinos, as early as in grade school, are made aware of the relevant issues for them to come up with decisions that will really make them financially sound as adult citizens in the future.

“We open our doors to more partnership with you so that we can expand the program as fast as we can because the age schools benefiting from this initiative will not be enough. We have more than 40,000 schools in the whole country. And if we want to create bigger ripples, we have to expand fast,” San Antonio said.

“For this dream to become a reality, we count on everyone. So the private sector, financial institutions, educators, including Maybank’s first batch of scholars, to collectively influence and, of course, transform the financial future of every student through effective and sustained FinEd initiatives,” Fonacier added.

6,745 Makati preschoolers get free raincoats, rain boots

M

akati Mayor Abby Binay on Thursday led the distribution of raincoats and rain boots to all preschoolers in Comembo Elementary School, Pembo ES, and Rizal ES who are among 6,745 target recipients of the free rain gear this school year under the expanded Project FREE (Free Relevant and Excellent Education) of the city.

The mayor said that besides ensuring accessible quality education, the city is committed to ensuring the safety of students in public schools, especially the younger ones who are more vulnerable to sickness especially during the rainy season.

“We are providing free raincoats and

rain boots to preschoolers this school year since they are more vulnerable to water-borne diseases during the rainy season. Our students in Grades 1 to 6 already received theirs last year,” Mayor Abby said.

Last November, the mayor led the distribution of the free rain gear to the first batch of beneficiaries composed of 49,379 students from preschool to Grade 6, including 443 learners under the Special Education (SPED) curriculum, in the city’s 25 public elementary schools.

According to Makati schools division superintendent Rita Riddle, all 6,745 preschoolers enrolled in the 25 public elementary schools will each receive a

raincoat and a pair of rain boots.

“Rizal ES has 801 preschoolers, the most number of enrollees in kinder among the public elementary schools in the city. It is followed by Pembo ES with 727 preschoolers,” Riddle said.

Other beneficiaries this school year include preschoolers of West Rembo ES, numbering 357; Cembo ES, 334; Comembo ES, 325; Hen. Pio Del Pilar ES (Main), 324; Fort Bonifacio ES, 320; Palanan ES, 312; East Rembo ES, 303; Pitogo ES, 269; La Paz ES, 269; Maximo Estrella ES, 231; and Francisco Benitez ES III, with 230 preschoolers.

Completing the list of beneficiaries are Nemesio I. Yabut ES with 203

preschoolers; Francisco Benitez ES, 199; Bangkal ES, 179; Guadalupe Viejo ES, 177; Nicanor Garcia ES, 173; Jose Magsaysay ES, 172; Bangkal ES I, 166; San Jose ES, 161; Hen Pio del Pilar ES I, 145; South Cembo ES, 138; Makati ES; 118; and San Antonio Village ES with 112 preschoolers.

The city has been providing students in Makati public schools with free school supplies and school uniforms under its Project FREE that was launched in 1995. To date, students enjoy additional freebies through the expanded Project FREE under Mayor Abby’s watch such as black shoes, sneakers (Air Binay), raincoats, rain boots, anti-mosquito kits and hygiene kits.

www.businessmirror.com.ph

OWWA and Facebook hold first digital literacy training in Singapore for OFWs

S

INGAPORE—Facebook, in partnership with the Philippine Embassy, Philippine Overseas Labor Office (POLO), and the Overseas Workers Welfare Administration (OWWA) in Singapore, kicked off its first digital literacy training workshop for OFWs on Sunday.

The event gathered over 200 OFWs who participated in a digital literacy workshop spearheaded by volunteer OFW community leaders in Singapore.

The event is part of “Digital Tayo,” a digital literacy and citizenship program that aims to reach a million Filipinos by the end of 2020. “Digital Tayo’s” learning modules cover topics such as safeguarding online privacy, safety, and security; how to engage in respectful digital discourse; and being aware and responsible of digital footprint.

“OFWs are among the most engaged and active communities online. Together with OWWA and our partners, we want to help OFWs develop digital skills, including the ability to think critically about what they see online, so they can become better informed digital citizens and continue to have a positive and authentic experience online,” said Rahimah Abdulrahim, Facebook Director of Public Policy, Southeast Asia.

“Digital Tayo’s” training modules will be incorporated in partner OFW organizations’ regular trainings and

community events in Singapore.

Those interested in participating in the trainings may get in touch with the Philippine Embassy and the POLO or partner OFW organizations including the Filipino Overseas Workers in Singapore, Pinoy Worldwide Initiative for Savings Investment and Entrepreneurship, Financially Literate Philippines, Center for Domestic Employees, Filipino Community, Leadership and Social Entrepreneurship, and Aidha.

“We are glad to be working with Facebook in empowering OFWs with knowledge and tools to help them connect with their families back home, and contribute to their communities. Digital literacy is an invaluable asset to our modern day Filipino heroes. We look forward to supporting OFW organizations who will be conducting these trainings in the coming months in Singapore,” said Philippine Ambassador to Singapore Joseph del Mar Yap. Over 140,000 departing OFWs have already participated in digital literacy workshops in Manila since last year. Facebook and OWWA aim to bring these workshops closer to OFWs deployed to countries in the Middle East and Hong Kong later this year.

To take an interactive digital literacy course visit: www.digitaltayo. fb.com or find out more about Facebook’s partnership with OWWA: www.owwa.gov.ph

Facebook in partnership with the Philippine Embassy, Philippine Overseas Labor Office and the Overseas Workers Welfare Administration in Singapore kicked off its first digital literacy training workshop for OFWs.

Fr. Roberto ‘Bobby’ Yap, SJ named new AdMU president

T

he Board of Trustees of the Ateneo de Manila University (AdMU) has elected Fr. Roberto “Bobby” C. Yap SJ to replace Fr. Jose Ramon “Jett” T. Villarin SJ as head of the academic institution, the university announced on Wednesday, August 7, 2019.

Yap will formally assume the presidency of AdMU on June 1, 2020, after Villarin completes his third and last term as president. The former is currently serving as president of Xavier University - Ateneo de Cagayan (Xavier Ateneo).

“We thank Fr. Bobby for his gracious availability to take on this important mission of leadership. And we are grateful as well to Fr. Jett for his generosity in leading the Ateneo de Manila,” the university said in a news statement.

As president of Xavier Ateneo, Yap presided over the active engagement of the university in the recovery and rehabilitation efforts in the aftermath of Typhoon Sendong, which included the building of a community of 500 houses at Xavier Ecoville.

Under his watch, Xavier Ateneo has also been active in the rehabilitation of Marawi, the achievement of the highest levels of accreditation for its college, junior high, and grade school programs, the integration of its service learning programs, and the building of the Xavier Ateneo Sports Center and new senior high campus.

Yap holds a PhD in Environmental Economics from University College London, an MA in Economics from the New School for Social Research, New York, and a Master in Public Policy from Harvard University.

His past ministries in the Society of Jesus include being Province Treasurer, Province Assistant for the Social

Apostolate, Associate Director of the John J. Carroll Institute on Church and Social Issues, and teaching Economics at the AdMU. He is also an alumnus of the AdMU (AB Economics Honors cum laude 1980, MA Theology 1992).

Villarin, in a news statement released after the announcement of Yap’s election, said that he is committed to work to complete projects that he has started in the university, including fund-raising for the completion of the senior high multipurpose building. Villarin added that he will work closely with Yap to ensure a smooth transition to the incoming administration.

“We will work to ensure a smooth transition for Fr. Bobby as he begins to acquaint himself with the operations and strategic concerns of the university,” Villarin said. “He himself has been a trustee of Ateneo de Manila for many years now so he is already on board when it comes to the strategic directions and decisions that have been made.”

Villarin assumed the leadership of the AdMU in 2011. During his tenure, he implemented several reforms, among them, the establishment of university structures along internationalization and social development, the deepening of Ignatian formation programs for students, faculty and staff, as well as the renewal of strategic plans for the university.

He also spearheaded the move of the Ateneo Loyola Schools to become an allgender-friendly society through the development of the Loyola Schools Gender Policy. Under his stewardship, AdMU built major infrastructure like the Areté and the International Residence Hall and opened the first Le Cordon Bleu school in the Philippines.

Marketing BusinessMirror

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Editor: Efleda P. Campos • Monday, August 12, 2019 E3

How can I write faster?

Part 1

D

By Millie F. Dizon

Keep all notes in one book

ONE cause of delay would be for us to search for our notes when writing. We all have experienced this, and we can only sigh on how this interrupts our workflow.

Again, it is important for us to get organized.

That is why Forer recommends that we optimize our ideas by “using only one notebook or file for each specific story or topic.

You can ‘scan’ your thoughts much faster when using one main source.”

Her tip? “Use a capitalized single word or phrase to indicate each idea. This will help you navigate through the paper.”

Dear Irene, My colleagues and I are happy that you found our column helpful, especially the one that you mentioned about the five skills one would have to develop to get ahead.

Yes, whether we like it or not, writing is a skill that will open doors for us because it will help us communicate better with those we work with, and in many cases, our stakeholders.

And deadlines are some things we have to live with. We cannot, as they say, turn back the clock to make up for time lost, and with the complex laws of physics and time, we cannot stop it from moving on. Hiring more people, on the other hand, isn’t always on the budget.

In a marketingprofs.com article, 15 Tips to Help You Write Faster, Laura Forer offers us many creative ways to increase our writing output.

Silence your inner editor

YOUR inner editor or inner critic, is the part of the writer that constantly aims for quality while writing. While the inner editor is excellent to have on hand in the revision process, the constant inner criticism can be harmful to one’s ego and output while producing a first draft. It can lead to distractions, delays, and, in some cases, paralysis.

“This person may seem like your best, more concerned friend, but in fact, he is your worst enemy,” “says Forer, who instead suggests that we “push the perfectionist aside and just write.”

She offers us three tips on how to deal with one’s inner editor: n Imagine that he is real n Put him in a safe and lock it shut n You hear that silence? Now it’s time to start writing.

Structure is everything

STRUCTURE is as important as writing itself, says Forer. And

PEOPLE: COUNTRY CEO OF DENTSU AEGIS NETWORK’S DONALD LIM ON THE DIGITAL LANDSCAPE AND THE FUTURE OF PRINT

THE biggest disruptor in the digital age is not the technology but the people—this is what the Country Chief Executive Officer of Dentsu Aegis Network Donald Lim believes in. During the inaugural United Print Media Group Talks held at the adobo creative hub, Lim painted a picture of the digital landscape, and talked about how content

consumption is dictating where print media is going.

Lim’s stellar career has allowed him to go around the block from print to media buying. From the get-go of his talk, he gave his stand. “I am very pro print.”

Perhaps his first job had something to do with. Lim recalled asking his first employer, the president and CEO of the Philippine Daily Inquirer, Sandy Prieto-Romualdez, to give him a challenge so he was put to sell obituaries and classified ads.

Lim recalled going door-todoor selling newspaper spaces to funeral parlors, and bulletin to different companies’ human resources. It was that beginning that gave him the perspective of creating products for specific groups of people.

WWW.FREEPIK.COM

Sincerely, Irene S.

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PR Matters

EAR PR Matters, I work in a junior position in a PR agency and was intrigued by your previous column when you mentioned five skills that would help one get ahead.

Writing was part of it, and with my work, I have come to realize that whether I like it or not, writing is important in getting ahead in whatever career you may want to pursue. And it is important to develop our writing skills.

One of the challenges we face when we have to do articles or reports to our clients is meeting deadlines. Can you and your colleagues give me some tips on how I can write faster? That will be most helpful to me.

It’s also about emotions. You don’t have to be an astronaut to write about Mars.”

this is something I learned the hard way. We had an excellent English teacher who would grade us not only on what we had to say, but how we organized our essays. We realized early on that we would get lower grades when our writing was disorganized and learned to improve on this through time and practice.

“Organize as much as you can,” Forer offers us some tips.

“Make a super detailed plan of your writing tasks and how they fit into the deadline.” This means not only scheduling tasks, but also a time for editing.

Defeat distractions

FORER believes that “all your social-media activities, relatives, friends, pets and housework can ruin your writing plan.”

She reminds us, however, that “you’re the boss,” and urges us to turn off all those distractions for a while.

“Put on your headphones,” she says. “You don’t even have to listen to music—just having them on will prevent others from interrupting your productivity.”

Track your words-per-hour

TECHNOLOGY offers us many tools to increase our writing productivity. This not only comes with better and more advanced computers, phones, and gadgets, but also with web sites like typingtest.com, where you can check your live writing speed.

Forer urges us to challenge ourselves. “You can increase your writing speed by competing against yourself for a higher word-per-hour ration. More words every hour.” From now on, this will be your challenge, she says.

Format at the end

LEAVE the best for last—“a quality check is the final step of your task,” says Forer.

Soon after that, he took his career to become the CEO of the digital company Yehey! Corp., and despite numerous warnings from others that he does not know anything about digital, Lim answered, “That’s the future, might as well jump.”

He recounted that in the early 2000s, since there were only a few million users of the Internet and the platforms weren’t as accessible, digital was hardly ever talked about. Now, it has brought on a power shift, enabling content to be created by the masses and not just consumed.

Whereas brands once held the power and dictated everything, consumers today are not waiting for organizations to adjust. They must coexist and collaborate to create content.

As we begin writing, there are red and squiggly lines, and hints that may distract us. Forer encourages us to forget about those, and turn these off.

“Do the writing first,” she says.

“Use automatic texting formatting in your word processing program.”

Write what you know

IT is important to have a good

stock knowledge, so you can draw from this anytime especially when you have a rush job to do.

“You can save time by writing something you already know,” says Forer. “Cut the research time. Use your experience and knowledge instead. Show your expertise.”

She clarifies, “write what you know isn’t always about events.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie F. Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

Perspective BusinessMirror

E4 Monday, August 12, 2019

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TRUMP’S AMERICA: Where politics dictate definition of racism

By Claire Galofaro & Bill Barrow | The Associated Press

E

RIE, Pennsylvania—It was the last morning of the workweek, and Scott Bremner, a popular talk-radio host here, found himself—again—in the role of accidental referee on the issue of race.

And again, the discussion was inspired by racial provocations from President Donald Trump. For one caller, critics of Trump had things upside-down.

“It has nothing to do with race, and those who suggest that it does, they are the real racists,” the caller said. “We’re getting angry again, and I’m telling you we’re going to step up again and vote for Trump because we are not racist, Trump is not a racist and you guys are fomenting this stuff.”

Before Bremner could respond, the man hung up. “Make your point and run,” Bremner said. “That’s a good way to have a discussion.” Yet that is the way many Americans seem to be discussing the nation’s roiling racial discord.

The next morning, a young man 2,000 miles away posted a hateful, anti-immigrant screed on the internet, walked into a Walmart in El Paso, Texas, with a gun and shot 22 people dead. By the time Bremner signed on again Monday morning, another man with a gun had stormed an entertainment district in Dayton, Ohio, killing nine, though his motive remains unknown.

Bremner’s show carries just one current of the heated national debate on race that has been fanned by Trump’s unrepentant use of white identity politics and inflamed by white supremacist violence like the shooting in El Paso. In interviews with The Associated Press across a half-dozen states, voters see a country riven by racial animus—better than a generation ago, but worse than before Trump’s presidency, with little choice but to confront the long national struggle anew.

Months ago, Bremner, who considers himself a moderate, “a lone voice in the wilderness,” wondered if Trump’s comments offered an opportunity to address racism that has been long-simmering.

He tried to establish whether his listeners could agree on a fundamental question: What is racism?

The answer, he realized, is no, they don’t even agree on that.

“One of the byproducts of having a president this polarizing, all this stuff starts to come out, which you could argue might be a good thing in the long term,” Bremner said. “Will it lead us to a better day?

I can’t tell you yet.”

Racial and ethnic polarization has been a hallmark of Trump’s political rise and is central to his reelection. He’s warned of an “invasion” at the southern border, posted racist tweets about four women of color in Congress and attacked Democratic Rep. Elijah Cummings’s largely black district as a “rat and rodent infested mess.”

Trump needs to maximize support from white voters in places like Erie County, a former Democratic stronghold with a withering manufacturing industry and declining population. The county chose President Barack Obama twice, then flipped for Trump and helped narrowly deliver him the key state of Pennsylvania.

The churn over Trump’s racial polarization has largely taken shape along ideological lines: Those on the right root for him more, as those on the left see their own anger rise.

Jim Noland unfurled a Trump flag as big as a minivan in a rural town near Erie. He cheered Trump on when he tweeted about Cummings’s Baltimore-area district.

Through Nolan’s lens, Trump’s message wasn’t racist, it was truth.

“Before, you just wouldn’t disagree with [Democrats] because you were afraid of being called a racist,” he said. “And now you disagree with them because their ideas are bad, and that’s enough.

When they call you a racist back, you can laugh.”

IN this May 27, 2019, photo, Royce Winters, a former police officer and the director of African-American Ministries for the Catholic Archdiocese of Cincinnati, preaches the homily during Mass at the Church of the Resurrection in Cincinnati. Winters said that the fight for equality continues. “We have to do this together,” he said.

“If we don’t have our white friends, our white counterparts, to advocate for doing what is right, we won’t get past this. DAVID GIFREDA/THE CINCINNATI ENQUIRER VIA AP

IN this August 2, 2019, photo, Scott Bremner, talk radio host, works in Erie, Pennsylvania. Months ago, Bremner had tried to establish if his listeners could agree on a fundamental question: what is racism? The answer, he realized, is no, we don’t even agree on that. AP/CLAIRE GALOFARO

He dismissed any link between Trump’s rhetoric and the El Paso’s shooting suspect’s post. The problem was one deranged man, he said.

Lucinda Rodriguez, the daughter of a Mexican immigrant, has a colleague who was killed and a friend who was seriously wounded by the El Paso gunfire. She said the killings affirm for her a rising hatred toward Latinos. Yet Trump’s rhetoric, she said, didn’t load any gun or pull any trigger.

Infinity Tucker, an El Paso native who identifies as Afro-Latina, put it more plainly.

“He’s a grown man,” Tucker said of the 21-year-old white suspect named Patrick Crusius. “He’s able to make his own choices.”

At a vigil mourning those killed in Dayton, attendees echoed

the reluctance to assign fault to the president. A 74-year-old black woman, Rickie Myles, said she’s increasingly fearful in an environment where “people spew hate” with ease. But Myles sees no way to understand his motives. “All we can do is speculate,” she said.

Away from the visceral responses of El Paso and Dayton, the response has largely cleaved along politically polarized lines.

Lucretia Hughes, a black conservative activist and former tea party leader in Georgia, points to the nation’s long history of racism and calls it “ludicrous” to blame the current flare-up on Trump. She sees a president who fights aggressively, if unconventionally, for an undervalued part of the electorate—“the real majority, the real middle class and working class” that’s made up

of all races and creeds. Trump delivers a brand of populism “that isn’t about color.”

Talina Massey in New Bern, North Carolina, has little problem steering responsibility to the Oval Office and an occupant she sees as deliberately indulging the worst human instincts. Massey, who is a black 35-year-old retired Marine, said that the environment could be so toxic that ousting Trump in 2020 might not be enough to calm the water.

“It’s not a matter of party lines anymore,” Massey said. “It’s a matter of good vs. evil, the ultimate conflict.”

And it’s certainly a reminder that Trump’s approach—whether strategic or intuitive or some combination—doesn’t just energize voters inclined to his rhetoric. It emboldens his critics, particularly nonwhites, younger whites who value diversity and moderate older whites uncomfortable with Trump’s values. All of those groups will influence Election Day outcomes as much as Trump’s white base in the key states whose narrow 2016 margins delivered his Electoral College victory.

Trump “allows what’s been under the surface to bubble up,” says Catherine Meeks, a 73-year-old black woman who leads a race reconciliation ministry for the Episcopal Church in Atlanta. But longterm progress, she said, depends on whites who aren’t usually at the center of open racial conflict.

“We are still in a place where there are too many white people who think the world belongs to them, and they don’t want to share it with anybody,” she said, noting projections that the US could become majority nonwhite sometime around the mid-21st century.

“I don’t care if we have an amazing president, we still have this work to do, bringing along white people who feel like they’re losing ground with too many black people, too many brown people.”

In Cincinnati, Royce Winters, a former police officer and the director of African American ministries for the Roman Catholic Archdiocese of Cincinnati, said the fight for equality continues. “We have to do this together,” he said. “If we

don’t have our white friends, our white counterparts, to advocate for doing what is right, we won’t get past this.”

A couple of months ago, a young white man, D.J. Smith, wandered into a Democratic political meeting in Erie and said he was sorry. He voted for Trump because he’d always been Republican, hadn’t paid much attention to politics and never thought much about race or privilege.

But then suddenly he did. The question presented itself at an unusual moment: He was a software engineer and dumbfounded by the repeal of net neutrality. It occurred to him suddenly that he had not needed to pay heed before because he was white and male and the country generally worked in his favor.

“I had an ‘Am I the bad guy?’ moment. I realized that I was, and I started to open up my eyes,” the 29-year-old said. He probably made racist jokes in the past, he thought, and said insensitive things.

He was consumed by remorse for his thoughts and comments and found himself “freaking out.”

He quit his job. He could not conceive of going on as normal as the nation convulses, he said, and started searching for a way to help bring the county back together.

When Bremner returned to his show Monday to discuss the weekend shootings, the lights on the phones blinked red with callers.

One apologized for being emotional. The El Paso shooting suspect had used language that mirrored the president’s own remarks, the caller noted. He had written that the massacre was a response to the “invasion” of immigrants coming over the southern border. At a recent rally in Florida, the president asked rhetorically how to stop migration. “Shoot them!” one person in the audience shouted. The crowd cheered; Trump chuckled.

“We’re going to see more and more and more of this,” Bremner’s caller said. “Because they think the president is on their side, because they hear him saying the things they’re thinking. So there have been plenty of red flags and plenty of warnings, and we need to wake up. When a terrorist is using the exact same language as the president, it’s time to make a change.”