BusinessMirror August 19, 2019

ECOZONE FIRMS WANT OUT OF CITIRA BILL

By Elijah Felice E. Rosales @alyasjah

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CONOMIC zone firms are asking legislators to make drastic changes to the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, including the exclusion of locators from the measure’s provisions and removal of cap on the grant of fiscal incentives.

Philippine Ecozones Association President Francisco S. Zaldarriaga said locators are appealing for an exemption from the coverage of the Citira bill. The measure, they argued, should only be enforced on domestic investments, and not on firms registered with the Philippine Economic Zone Authority (Peza).

CLARK AIRPORT TURNOVER The frontage of the Clark International Airport (CRK) is seen in this BusinessMirror June 2019 file photo. A new consortium has formally taken over the operations and maintenance (O&M) of the old terminal building, even as a new terminal building, with an 8-million annual capacity, is to be completed soon.

Leading the turnover of CRK’s O&M to the Luzon International Premiere Airport Development (Lipad) Corp. was the Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA). Story in Companies section, page B1. BERNARD TESTA

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“At this point, our only appeal is to exempt Peza [firms] from these provisions and apply the bill to prospective domestic investments,” Zaldarriaga told the BusinessM irror.

Locators will need to relinquish their incentives, including the 5-percent tax on gross income earned (GIE) paid in lieu of all local and national taxes, if the Citira bill is applied to them. Under the proposal, they are given up to five years to surrender their tax perks.

For firms registered with the Peza, the Citira bill capped the period for enjoying income tax holiday (ITH) at three years; and additional incentives at five years. Under the existing setup, economic zone firms are allowed to enjoy ITH for up to six years for pioneer activities and four years for

nonpioneer activities. Upon the expiry of their ITH, they will perpetually pay 5-percent tax on GIE, be exempted from all local and national taxes, enjoy duty-free importation of raw materials, capital gear and spare parts, among others.

The House ways and means panel chairman, Albay Rep. Joey Salceda, meanwhile, said the Citira is “nonnegotiable”and rejected the Pezaregistered locators’ plea to exempt them from Citira’s coverage.

Seipi’s stand

DANILO C. LACHICA, president of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi), batted for another modification in the Citira bill: remove the cap on the grant of incentives.

See “Citira bill,” A2

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Monday, August 19, 2019 Vol. 14 No. 313

House panel rejects Peza exclusion plea T

By Jovee Marie N. dela Cruz

@joveemarie

HE chairman of the House Committee on Ways and Means on Sunday rejected the appeal of the Philippine Economic Zone Authority (Peza) to exclude its locators from the coverage of the proposed Corporate Income Tax and Incentives Rationalization Act (Citira), saying the lower chamber’s proposal is the “best” in Southeast Asia.

Albay Rep. Joey Salceda, the panel chairman, said the House Bill 313 or the Citira is “nonnegotiable.”

“Only in the Philippines [do] forever incentives exist. That has to go, it’s nonnegotiable. No forever,” he said.

“Incentives should be targeted on sectors we need and should be performance-based—50 percent more deductions for labor, 50 percent more for domestic inputs, 100 percent more for RD [research and development], 100 percent more

for training, 100 percent more for infrastructure—new incentives are linked to targets prior to approval, not some afterthought of bloated claims,” he said.

According to Salceda, the incentives provided under the Citira are

“Only in the Philippines [do] forever incentives exist. That has to go, it’s nonnegotiable. No forever.”—Salceda

the best compared to the Philippines’s neighbors.

“Our new offer is the best in region. Vietnam offers only four to two years of ITH and additional two years based on performance,” he added.

During the committee deliberations of HB 313, Peza Director General Charito B. Plaza asked lawmakers to exempt Peza from the coverage of Citira.

See “Peza,” A2

@caiordinario

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HE Philippines continued to rank well against its Asean counterparts in terms of GDP growth and open data efforts but lagged in terms of investments, tourist arrivals and inflation, according to the Philippine Statistics Authority (PSA).

In a recent presentation, Assistant National Statistician Candido J. Astrologo Jr. also said the Philippines enjoyed higher literacy rates compared to its Asean peers but lagged in terms of life expectancy.

Astrologo added that the Philippines ranked second in terms of the Open Data Inventory of the Open Data Watch and the World Bank’s

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Statistical Capacity Indicator.

“The Philippines did well in terms of GDP growth rate. We have been called a tiger economy or the best performing economy for the past years but not regarding inflation rate, FDI [foreign direct investments], and visitor arrivals,” Astrologo said. “There’s still room for improvement.”

Astrologo said the Philippines improved its performance in the Asean in terms of GDP growth.

In 2018, the country ranked first against the Asean-6 when it posted a growth of 6.2 percent.

This was a far cry from the country’s ranking in 2006, when the Philippines posted the 3rd lowest GDP growth of 5.2 percent.

See “PHL,” A2

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KOREANS, EUROPEANS AMONG TOP SPENDERS IN PHL IN 1ST HALF 2019

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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OREIGN tourists who visited the Philippines spent an estimated US$4.7 billion or P244.4 billion in the first half of the year, up 17.6 percent from the same period in 2018.

Data from the Department of Tourism (DOT) obtained by BusinessMirror also showed South Koreans and Europeans were among the top spenders in the country.

“These economic numbers are exciting, but the real purpose of why the government is working hard to push these numbers up year after year is for the Filipino people,” said Tourism Secretary Bernadette Romulo Puyat. “Tourism in 2018 was responsible for 5.4 million jobs in 2018, contributing 12.7 percent or P2.2 trillion to the country’s gross domestic product. At the end of the day, it is the number of lives

PHL fares well in Asean in GDP, open data; poor in FDI, tourism, inflation

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changed for the better by tourism that would truly count.”

She noted that the agency appears on track in attracting highspending and longer-staying tourists to the country.

Data showed South Koreans were the top spenders in the first six months of the year at $1,304.13 per person, based on 946,025 who arrived during the period of review.

Total expenses were at $1.23 billion (P64.14 billion).

In second place were the French, who spent $1,287.44 per person, despite the fact only 52,960 of them arrived during the period. Total spending in the Philippines by the market was $68.18 million (P3.55 billion).

They were followed by Germans, who spent $1,272.61 per person, on arrivals of 55,322 in the period. The market spent a total of $70.40 million (P3.66 billion) during their holiday in the country.

See “Top spenders,” A2

DOF hails lawmakers’ fast action on Citira

T YOUNG LEADERS Some 13,000 youths attended during the weekend the 2019 Global Youth Summit, meant to develop youth leadership that is globally-minded and innovative. Delegates join workshops that address themes that impact youth like technology, environment, public policy advocacy and education. SM Cares, the corporate social arm of SM Prime holdings Inc. and Global Peace Foundation organized the event, which was graced by Tourism Secretary Bernadette Romulo Puyat, National Goodwill Ambassador of Unicef Anne Curtis and United Nations Development Program Ambassador Antoinette Taus. NONIE REYES

HE Department of Finance hailed lawmakers for their “prompt action” in fasttracking the process of getting the Corporate Income Tax and Incentives Rationalization package through the legislative mill.

In a statement over the weekend, Finance Secretary Carlos Dominguez III thanked the House ways and means committee chaired by Albay Representative Joey Salceda for the “swift approval” of the proposed Citira.

“We thank Representative Salceda, the various sponsors of the Citira bill, and the members of the House ways and means committee for

US 52.5190 n JAPAN 0.4949 n UK 63.4797 n HK 6.6983 n CHINA 7.4672 n SINGAPORE 37.8161 n AUSTRALIA 35.5816 n EU 58.3381 n SAUDI ARABIA 14.0028

See “DOF,” A2

Source: BSP (16 August 2019 )

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A2 Monday, August 19, 2019

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AFP backs ‘lawful’ Sulu Sea oil exploration

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By Rene Acosta

@reneacostaBM

HE military fully supports proposed oil exploration activities in Mindanao for as long as these follow Philippine laws and regulations of the country, and will uplift economic conditions in the south.

The position was made by the Armed Forces Western Mindanao Command (Westcom) following the proposal of the Energy World

Group to explore oil in Sulu. The proposal is also being supported by the leadership of the Bangsamo r o A ut o no m o u s R e g i o n i n

Muslim Mindanao (BARMM). “ T he m i l it a r y i s ready to s u p p o r t a ny j o i nt v e nt u r e , coproduction, and sharing agreements that comply with the legal requirements and that redound to the benefits of the Bangsamoro people,” said Lt. Gen. Cirilito Sobejana, commander of the Westcom.

“We are for peace and development in the Bangsamoro region, and we remain committed to support any development initiatives in the operational area,” he added.

Over the weekend, Energ y World Group officials met with military, local and BARMM officials in Cotabato City, to discuss

the company’s offer to explore natural oil in Sulu, according to Westcom Spokesman Major Arvin Encinas.

Encinas did not provide details of the meeting, which was attended by BAR MM Interim Chief Minister Murad Ebrahim and other security officials. But he said the project is seen to create “more employment opportunities for residents and former terrorists in Mindanao.”

“The Energy World Group said the exploration will be made in Sulu to ameliorate the province’s economic conditions,” he added.

A prev ious study made by lawyer Ishak Mastura of the IAG Development Consulting Inc.

PAG-IBIG FUND LAUNCHES IMPROVED LOYALTY CARD PLUS

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AG-IBIG Fund has launched an improved version of the popular Pag-IBIG Loyalty Card.

Now called the Pag-IBIG Loyalty Card Plus, the Fund’s discount and rewards card comes with the added feature of a cash card, top officials said recently.

“The new and improved Pag-IBIG Loyalty Card Plus can now be used as a cash card where borrowers can receive the proceeds of their multi-purpose loans, MP2 dividends, and other benefits. It’s easier because they don’t have to wait for checks to clear anymore and the proceeds of the loan can be withdrawn in ATMs. This is a welcome addition to our existing cash cards available

Citira bill. . .

Continued from A1

“Seipi’s position on Citira has not changed from our position with its predecessor Trabaho [Tax Reform for Attracting Better and HighQuality Opportunities]. We would prefer no cap on [the grant of] incentives,” Lachica said in a text message.

If members of the House of Representatives insist on their version of the Citira bill, then they should at least consider expediting the reduction of corporate income tax (CIT) and extending the transition period for the surrender of incentives, according to Florian Gottein, executive director of the European Chamber of Commerce of the Philippines (ECCP).

“While the ECCP appreciates the lowering of the CIT rate to help attract more investments, the proposal to reduce the CIT rate by two percentage points every 2 years is deemed too little, too slow. The ECCP urges the government to start reducing the CIT rate to 25 percent at the onset and an annual 1 [percentage] point reduction until the proposed 20 percent CIT rate is reached, which would bring the Philippines closer to the [regional] average,” Gottein said over the phone.

to members applying for multipurpose loans. It’s one of our many ways to simplify our processes and hasten the delivery of service as we continue to heed the call of President Duterte for government to use electronic means to achieve faster transactions,” said Secretary Eduardo D. del Rosario, chairman of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees.

To enable the cash card feature of the Loyalty Card Plus, the agency partnered with big names in the banking industry like Union Bank of the Philippines and Asia United Bank. It is looking to partner with more banks.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said the Loyalty Card Plus may be used as a debit card for cashless transactions and has an EMV chip - the same technology in debit and credit cards—to ensure security of transactions. The Pag-IBIG Loyalty Card Plus is now printed on site; members can get their card instantly in the Pag-IBIG Fund branch where they applied.

Upon resuming the enrolment for the card on July 15, the Fund already issued 9,955 new cards in three weeks. In that time, Multi-Purpose Loans (MPL) amounting to P24.77 million were disbursed to 1,505 borrowers using the Pag-IBIG Loyalty Card Plus.

“As for the proposal on time-bound incentives, the [ECCP] is of the opinion that a longer sunset period is necessary to allow for a necessary transition,” he added.

At present, the Philippines has the highest CIT rate in Southeast Asia, while Singapore has the lowest at 17 percent. Manufacturing rivals Vietnam, Thailand and Indonesia apply CIT rates of 20 percent, 20 percent and 25 percent, respectively.

Under the Citira bill, the corporate tax rate of 30 percent will be reduced to 28 percent in 2021; to 26 percent in 2023; to 24 percent in 2025; to 22 percent in 2027; and to 20 percent in 2029 as part of government efforts to attract more investments to the Philippines.

Voting 27 to 2, the House Committee on Ways and Means last Wednesday endorsed the Citira bill, filed by Albay Rep. Joey S. Salceda, for plenary deliberations. The measure is scheduled to be transmitted this week to the plenary for second and third reading approval.

Policy-makers are expediting deliberations on and, consequently, the approval of the Citira bill in accordance with President Duterte’s appeal in his fourth State of the Nation Address to ensure the passage of all remaining tax packages before his term ends in 2022.

Peza. . .

Continued from A1

Plaza said the Finance department should not only be concerned with how to increase taxes and income of the national government but must also consider the income created for the local government units.

According to Plaza, a total of P10.05 trillion was poured in by Peza and its registered companies into the Philippine economy from 2015 to 2017.

Plaza said she will appeal to the Senate because they act more like “statesmen”compared to members of the lower chamber. Last week, the way and means committee approved the Citira, with an eye to having the country secure an A credit rating by 2022 by S&P Global Ratings.

The bill or the second package of the comprehensive tax reform program (CTRP) also aims to ensure that the grant of fiscal incentives helps bring in the greatest benefits, such as higher and more dispersed investments, more jobs and better technology.

Lower corporate income tax

THE measure seeks to encourage investments by bringing down the corporate income tax (CIT) rate

DOF. . .

Continued from A1

heeding the call of President Duterte in his Sona (State of the Nation Address) on the swift approval of this measure, which represents Package 2 of his comprehensive tax reform program [CTRP],” Dominguez said.

Salceda and 26 other members of the ways and means committee voted

Lorenzana. . .

Continued from A16

The defense chief also said “Filipinos are widely dispersed in China, working in homes and schools that are far away from military camps.

The Pogo Centers here, meanwhile, are very near military camps and naval bases. It could be just coincidental because these were the only facilities offered for Pogo Operations and I believe that the Pogo workers are here just for work only. What I am alarmed is the potential that they could be tapped for info gathering purposes.”

“That is why I support the relocation of the Pogo centers to eco zones that are not proximate to military camps,” he said. Lacson to Panelo: Who pays your salary?

“As always, they can enjoy the same rewards and big discounts from our more than 300 partner establishments. With discounts ranging from 5 to 50 percent, cardholders can save on groceries, fuel, tuition fees, hospital bills, medicines, and even food and travel expenses,” Moti said. The card is available in Metro Manila, “but we are working hard to have it available nationwide soonest,” he added.

The Loyalty Card Plus may be used to access the soon-to-be launched Virtual Pag-IBIG, an online service allowing members to transact anytime, anywhere.

from 30 percent to 20 percent and modernize investment tax incentives to enhance fairness, improve competitiveness, plug tax leakages and attain fiscal sustainability. The measure proposes to bring down the CIT by 2 percentage points every two years.

The bill will grant fiscal incentives only to registered activities of exporters and industries listed in the Strategic Investment Priority Plan.

It also grants the President the power to grant incentives if the project has a comprehensive suitable development plan and will bring in at least $200 million. It will also grant income incentives for a maximum of five years, removing the perpetual 5 percent on gross income earned and limiting the income tax holiday.

The measure provides that in lieu of ITH or reduced CIT, incentives may be extended on a per-industry only basis, upon BOI approval.

The Department of Finance projects it to generate some 1.4 million jobs, mostly in small and medium enterprises, over the next decade and create a business environment conducive to inclusive growth.

For his part, Finance Undersecretary Karl Chua said the set of incentives under Package 2 of the CTRP will be transparent, time-bound, targeted and performance-based.

Wednesday to approve the Citira, as embodied in House Bill 313, upon the motion of Nueva Ecija Rep. Estrellita Suansing, a senior vice chairman of the panel.

According to the DOF, the Citira bill will make the Philippines more attractive to investors by gradually lowering the corporate income tax (CIT) rate from 30 percent to 20 percent, and rationalizing the system of granting fiscal incentives to companies. Bianca Cuaresma Panelo’s move to readily share the Chinese ambassador’s text, meanwhile, drew criticism from Sen. Panfilo Lacson, who wondered aloud if Panelo was working as spokesman of the Chinese Embassy.

“Has the presidential spokesman switched from Chinese Embassy defense counsel to spokesman?” asked the senator.

“What I was pointing out in my tweet is not on the issue of whether or not there is logic in the Chinese ambassador’s statement.

“The thing is, the Chinese Embassy has its own spokesman who should speak on their behalf because that’s his job. Why would the country’s presidential spokesperson whose salary and other miscellaneous expenses are being paid out of our taxes take on the embassy spokesman’s job?” Lacson demanded to know. With Butch Fernandez

said the areas covered by the BARMM hold some of the biggest untapped petroleum resources in the country, with two of the most highly prospective petroleum sedimentary basins—the Sulu Sea and major portions of Cotabato.

“According to the Philippine Department of Energy, the offshore Sulu Sea Basin has a potential 203 MMBOE, while the land-based Cotabato Basin has a potential 159 MMBOE with 29 BCF of gas already discovered,” Mastura said.

MMBOE stands for million barrels of oil equivalent.

“The hydrocarbon prospectivity of the ARMM [now BARMM] is

Top spenders. . .

In fourth place were tourists from the United Kingdom, who spent $1,218.06 each, on arrivals of 106,673 from January to June 2019. The market spent a total of $129.23 million (P6.76 billion) during the period.

Coming in fifth place were Canadians at $1,160.93 on arrivals of 128,370, or a total spend of $149.03 million (P7.75 billion) for the six months to June 2019.

Americans were next top spenders at $1,152.18 per person, on arrivals of 569,204. The market spent $655.83 million (P34.10 billion) for the entire period.

Despite being the second top source of tourist arrivals in the first half of the year at 866,561, tourists from mainland China spent just $979.38 million (P52.93 billion), or just $1,130.19 per person.

Australians were next at $1,100.74 per person on arrivals of 143,014, or a total expenditure of $157.42 million (P8.19 billion); followed by Taiwanese at $1,085.86 per person on arrivals of 159,532, or a total spend of $173.23 million (P9 billion); Indians at $1,007.80 each on arrivals of 68,888, or total expenditures of $69.43 million (P3.61 billion); Japanese at $937.10 each on arrivals of 326,907, or expenses totalling $306.35 million (P15.93 billion); and Malaysians at $712.86 each on arrivals of 74,307, or total expenses of $52.97 million (P2.75 billion) for the period in review.

Under the National Tourism Development Plan of 2016-2022, the DOT is targeting inbound tourism receipts to reach P564 billion this year, rising to P922

PHL. . .

Continued from A1

Poor in FDI

IN terms of FDI, the Philippines only accounted for 6.3 percent of total Asean FDI in 2018. This was a 1.7- percentage point increase from the 4.6 percent share it posted in 2006.

Singapore remains the top recipient of FDI in the region, accounting for 50.2 percent of total FDI in 2018 and 57.3 percent in 2006.

Indonesia and Vietnam, meanwhile, posted the highest increases in share between 2006 and 2018. Indonesia posted a 6.5-percentage point increase while Vietnam saw a 6.2-percentage point growth in FDI share in the region over a span of 12 years.

Astrologo said the Philippines was the least popular tourist destination, particularly in the Asean-5. In 2017, there were only 6.6 million tourist arrivals in the country.

“Although the number of visitor arrivals in the Philippines continuously increased over the years, it exhibited a slower pace than most of the AMSs [Asean member-states],” Astrologo said.

When it comes to inflation, the Philippines was regarded as the second most expensive country in the Asean with an average inflation of 5.2 percent in 2018. Last year saw inflation rates accelerating over several months as the first tranche of the government tax reforms kicked in, but government economists also blamed supply problems, especially with rice, prices of which soared. The inflation has since decelerated to 5.4 percent in July, with economic managers crediting the combination of inflation-usting measures that were rolled out.

Astrologo said in 2018, Myanmar at 6.3 percent had the highest inflation rate while Brunei Darussalam has the lowest at 0.1 percent.

In terms of life expectancy, Filipinos

borne out by the fact that in previous years three Service Contracts [SC] still at the exploration stage have been awarded by the Philippine government in the offshore Sulu Sea Basin in the waters surrounding the Sulu Archipelago,” the study said.

SC 41 with an area of 4,820 square kilometers is operated by Australian company Tap Oil; SC 64, with an area of 12,600 sq km kilometers, is operated by Malaysian company Ranhill Berhad.

“Perhaps the most intriguing is SC 56 operated by Malaysian-based Mitra Energy Ltd., wherein ExxonMobil signed a 50-percent farm-in agreement in the past,” the Mastura study said.

Continued from A1

billion on the last year of the Duterte administration.

Romulo Puyat noted that “our guests truly find it more fun in the Philippines,” spending an average of $120.60 per day, and each staying an average of 9.01 nights in June alone. These were 28.64 percent and 1.81 percent higher than the same month last year, as based from the department’s visitor sample survey.

In June, inbound expenditures reached some $735.25 million or P38.23 billion, up 30.6 percent from June 2018, while each tourist spent an average of $1,086.61, higher by some 31 percent from the same month last year.

Total foreign visitors reached 4.1 million in the first half of 2019, up 11.43 percent from the same period last year.

Asked if the country was on track to reach the 8.2-million inbound arrivals target for 2019, the DOT chief told reporters recently, “We are always hopeful, but right now the goal is 8.2 million. In the first half, we reached 4.1 million but what we want is quality over quantity, and that there would be an increase in employment and tourism revenue. It’s more important for the country than revenue increases instead of tourism arrivals. Maybe because I’m an economist, I look more at employment and revenue, because there are times, the arrivals may have increased but the revenue remains the same, so it hasn’t really benefited the economy.” born in 2015 are expected to live 70 years.

This is shorter than any of the countries in the Asean-6.

Life expectancy of Singaporeans is the highest at 83 years while that of Laotians is the lowest at 65 years.

On a positive note, Astrologo said the literacy rate in the country was the fourth highest in the Asean using 2015 data at 95.4 percent.

In 2015, data from Asean Stats showed that Brunei Darussalam had the highest literacy rate at 97.2 percent while Lao PDR has the lowest at 79 percent.

In terms of open data—which measures whether data can be downloaded in machine-readable and nonproprietary formats—the Philippines rated well.

Open data also meant being accompanied by metadata and download options, as well as open terms of use.

The Philippines bounced back to second place in 2018 after slipping to third place in 2017. The country was already in second place in the 2016 ranking. Singapore was first in the ranking between 2016 and 2018. Lao PDR, meanwhile, was the last in 2017 and 2018.

The World Bank’s overall Statistical Capacity score is calculated using a simple average of methodology, data sources, and periodicity and timeliness on a scale of 0-100.

“The Philippines ranked No. 1 for the years 2008 to 2013; however, it posted its lowest score [77.8] in 2014 when it ranked No. 3,” Astrologo said. “[The Philippines] managed to bounce back to No. 2 in 2018.”

The Asean was founded in August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. In January 1984, Brunei Darussalam joined and together with the original Asean-5, formed the Asean-6.

The nineties brought more members to the Asean. In July, 1995, Vietnam joined the bloc, followed by Lao PDR, Myanmar and Cambodia in April 1999. Together, these countries formed what is known as the CLMV countries, an acronym bearing the first letters of their names.

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Editor: Vittorio V. Vitug • Monday, August 19, 2019 A3

Duterte-led party takes control of House committee leadership

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By Jovee Marie N. Dela Cruz

@joveemarie

HE Partido Demokratiko Pilipino–Lakas ng Bayan (PDPLaban) has taken majority of key leadership positions in the House of Representatives.

According to Marinduque Rep. Lord Allan Q. Velasco, who was named to head PDP-Laban, six of his party mates have been named deputy speakers, six deputy majority leaders, one assistant majority leader and one assistant minority

leader of the 18th Congress.

Velasco added that PDP-Laban also received chairmanship of 19 key committees and 58 vice chairmanship of 58 committees.

As of last week, the lower chamber has already organized 58 com-

mittees out of 75 committees.

He added that members of PDPLaban has also been respectively elected to head the House delegation to the Commission on Appointments (San Juan Rep. Ronaldo B. Zamora) and the House of Representatives Electoral Tribunal under the leadership of Oriental Mindoro (First District) Rep. Doy C. Leachon.

Velasco expressed gratitude to House Speaker Alan Peter S. Cayetano for naming members of PDP-Laban to various committees and important posts in the bigger chamber.

According to him, the PDP-Laban and all of its 68 lawmakers in the House of Representatives “are ready

to buckle down to work and tackle issues and priority legislations.”

At the same time, Velasco expressed confidence that the ruling party can push the legislative agenda of the Duterte Administration for the next three years with the allocation of key positions and chairmanships to its party members in the House of Representatives.

Party-list

MEANWHILE, 1-Pacman Rep. Michael L. Romero said his group has now four deputy speakers.

“A proportionate share of two Commission on Appointments representatives and 1 HRET representative, four deputy majority and minority leaders, and another

four assistant majority and minority leaders,” Romero said.

The president of the 55-member Party-list Coalition Foundation Inc. added the PCFI has 12 committee chairmanships, which now includes major committees, such as the following: Games and Amusement, Economic Affairs, Labor and Employment, and the Overseas Workers Affairs.

“All our neophytes got one or two vice chairmanship, which now includes Appropriations Committee and the Ways and Means Committee,” he said. “[T he leadership] not only gave the coalition a 20-percent proportionate share, but even gave more because of the back-

ground and résumé of most of the PL members, which are best suited and needed by the House of Representatives,” he said.

Term sharing

EARLIER, Deputy Speaker Roberto V. Puno said the leadership is still working on the committee chairmanship for Cayetano and for Velasco.

“It [the committee chairmanship] probably takes two months to complete,” Puno said.

Under the term-sharing agreement, Cayetano would occupy the speaker post for the first 15 months, while the remaining 21 months of the 36th month of the 18th Congress will be taken by Velasco.

A4 Monday, August 19, 2019 • Editor: Vittorio V. Vitug

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Rules for tapping fund for open spaces issued

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By Bernadette D. Nicolas

@BNicolasBM

OUR months after President Duterte signed the 2019 national budget in April, the Department of Budget and Management (DBM) has finally released the guidelines on the use of the P2.49-billion fund to help local governments develop more public open spaces.

Newly appointed DBM Acting Secretary Wendel E. Avisado signed Local Budget Circular 120 on Local Government Support Fund-Assistance to Cities (LGSF-AC), which shall be used for construction, rehabilitation, repair or improvement of public open spaces.

In issuing the circular, the DBM cited Special Provision 2 of

the LGSF-AC in the 2019 General Appropriations Act (GA A) which states that the implementation of the LGSF-AC shall be subject to guidelines to be issued.

The same special provision also specified that the amount shall be allocated to local government units based on equal sharing and population.

“ T he amount appropr iated for the LGSF-AC under the 2019 GAA, Republic Act 11260 shall be used to enhance the existing or develop new public open spaces in lands owned by the cities that are free, accessible to the general public and serve the purpose of making cities sustainable, livable, and resilient by designing open space projects for the environment and for the people,” read the copy of the August 15 circular, which is set to take effect 15 days after its publication.

Quezon City received the biggest allocation with P57.16 million followed by Manila (P39.74 million), Davao (P37.52 million), Caloocan (36.78 million) and Cebu (P26.82 million), according to the circular released on the DBM web site on August 16.

Types of public open space projects include parks, plazas, es pl a n ades, st reet sc apes, or network of public open spaces combining types of public open

space, the DBM said.

Under the general guidelines stated in the circular, cities are also asked to submit their requests for the release of the LGSFAC to the DBM Central Office, supported by requirements.

The LGSF-AC shall be released directly to the Bureau of Treasury to the beneficiary cities through authorized government servicing banks, consistent with the purpose indicated in the corresponding Special Allotment Release Order and Advice of Notice of Cash Allocation Issued to be released by the DBM to the BTr. The DBM said funds which remain unutilized as of December 31, 2020, shall be reverted to the National Treasury by the recipient cities.

However, if at any point before December 31, 2020, the city determines that the funds can no longer be utilized, the amount received by the same city from the LGSF-AC shall be reverted to the National Treasury.

DOE to submit results of perception study on nuclear energy to Duterte

By Lenie Lectura @llectura

T

“We want to explore all possible ways to bring affordable, secure and reliable power to Filipinos throughout the entire archipelago.”

—Cusi

HE Department of Energy (DOE) is set to submit to the Office of the President the results of a perception study on the possible development of nuclear energy.

“We cannot disclose now the perception survey.

It will be presented to the Cabinet and, whatever will be the result, we can release it. We are still covered by a nondisclosure agreement regarding the perception survey,” said Energy Undersecretary Donato Marcos.

He said the DOE commissioned a third party to conduct the survey to determine “who is the strongest endorser, what are reaction of the people regarding so many items of concerns.”

The DOE underscored the need to tap all available energy resources, including nuclear energy, to assure the country’s energy security amid ever growing demand.

“We are technology neutral, because we want to explore all possible ways to bring affordable, secure and reliable power to Filipinos throughout the entire archipelago,” said Energy Secretary Alfonso G. Cusi.

“I believe this is the time for us to take a leap and include nuclear power into our energy mix. We wouldn’t want to wait until we are all crying for power before we actually do something,” Cusi added.

He said there is a possibility that a national policy on nuclear energy may be crafted during this administration.

Marcos, who is also the chairman of the Nuclear Energy Program Implementing Office (Nepio), said the planned nuclear policy would highlight three major points: Include nuclear energy in the country’s energy mix, expand Nepio and prioritize the passage of a nuclear policy bill.

“It’s because it would be better if Nepio is with the Office of the President. It should be run by a commission,” he said.

The Bataan Nuclear Power Plant (BNPP) is the country’s first and only attempt at nuclear power development. It was supposed to be the first of two nuclear plants to be built in the northern province of Bataan. It was also the first nuclear power plant in Southeast Asia, and was identified as a solution to the 1973 oil crisis that had adversely affected the global economy, including the Philippines.

The $2.3-billion project, however, was mothballed in the wake of the Chernobyl disaster in 1986. But clamor for the reopening of the BNPP was revived during the power crisis in the 1990s and the skyrocketing oil prices in 2007.

During these periods, the DOE actually came close to reconsidering nuclear power as a potential energy source for the country.

The Fukushima nuclear-plant incident in 2011, however, created global panic and concerns about the safety and integrity of nuclear plants.

MORE open spaces like the famous Luneta Park in Manila in this BusinessMirror file photo will be developed under the “Green, Green, Green” program.

Arta to local govts: Set up one-stop shops for business

By Elijah Felice E. Rosales @alyasjah

T

HE Anti-Red Tape Authority (Arta) has instructed local governments to set up a business one-stop shop as part of their compliance to the Ease of Doing Business (EODB) law.

In a statement last Friday, the Arta reminded LGUs of their obligations to the implementation of the EODB law, one of which is the establishment of a one-stop shop.

This one-stop shop shall serve as the business permitting and licensing system that will receive and handle applications for license, clearance, permit and authorization.

The Arta said it will provide local governments with the necessary regulatory support to ensure they can comply with this requirement effectively and competently.

“In line with this, Arta is urging all LGUs to comply and adopt [a business one-stop shop] in their city/municipality. Arta believes that it is high time that the country prioritize measures that will make public service more effective, efficient and pro-people,” the agency said.

“Pursuant to its functions, the [Arta] will do its part in arming business processing and licensing offices [BPLOs] with the proper regulatory backing to ensure that LGUs can comply with this provision effectively and competently,” it added.

Further, the red tape regulator asked LGUs to assume the task of issuing barangay permits and clearances, as well as collecting their fees, provided the share in the collections are remitted to their respective barangays. The Arta recommended incorporating the processing of barangay level documents in the local government’s one-stop shop to simplify transactions.

The Arta will soon conduct a series of regulatory impact assessment workshops to capacitate LGU executives with the competence to identify bottlenecks in their permitting and licensing, streamline their processes and reengineer their systems.

“In this regard, Arta is also considering the deputization of

BPLOs to become a part of the Anti-Red Tape Unit, which shall be established in every region of the country. Once deputized, BPLOs could have the power to carry out initiatives that will support the implementation of Arta’s mandate,” the Arta said.

Last Thursday Arta Director General Jeremiah B. Belgica had a dialogue with the leaders of the National Association of Business Permits and Licensing Officers to discuss initiatives that will enhance the services of BPLOs and improve the ease of doing business nationwide.

Under the EODB law, government agencies are required to complete simple transactions within three days; complex transactions within seven days; and highly technical transactions within 20 days.

They are also mandated to trim the number of signatories required to release a license, clearance, permit and authorization.

Government officials found violating the law will be suspended for six months on first offense, and jailed for up to six years, slapped with a penalty of P500,000 to P2 million and removed of retirement benefits on second count.

These provisions of the law are aligned with the government’s objective of eliminating red tape to improve the country’s ratings in competitiveness surveys. The Philippines in the 2019 edition of the World Bank’s Doing Business report fell 11 notches to 124th among 190 economies after obtaining poor scores in getting credit, starting a business and enforcing contracts.

The implementing rules and regulations (IRR) of the the EODB law was signed on July 17. Arta said the IRR created the mechanism for filing complaints against erring government officials. With this in place, the public can now reach out to the Arta and lodge cases against public servants who failed to deliver services on time.

Under the EODB law, simple government transactions should be completed within three days; complex transactions within seven days; and highly technical transactions within 20 days.

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Govt issues more rice import permits to traders

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Bureau of Plant Industry (BPI) granted 2,294 permits to 208 private entities that sought to import 2.041 million metric tons (MMT) of milled rice since March, based on the latest data from the agency.

Figures from the BPI, an attached agency of the Department of Agriculture (DA) indicated that cooperatives, traders and institutions applied for sanitary and phytosanitary import clearances (SPS-IC) from March 5 to July 30.

In July alone, the BPI issued 776 SPS -IC for the purchase of 562,332.8 MT of rice from Myanmar, Spain, Thailand and Vietnam.

Among those applying for import permits from March to July, the agency’s records indicated that Arvin International Marketing Inc. accounted for the biggest volume at 72,018.6 MT. Puregold Price Club Inc., the grocery-chain operator owned by businessman Lucio Co, was among the top 5 import applicants

during the period with a cumulative volume of 55,585 MT. A total of 173 eligible importers used 1,041 SPS-ICs and brought in 930,031.888 MT of rice as of endJuly. The imports were sourced from Italy, Myanmar, Pakistan, Spain, Thailand and Vietnam.

The BPI was mandated to facilitate private-sector importation by issuing SPS-ICs once Republic Act (RA) 11203, which eased the restrictions on imports, took effect on March 5.

Under the new trade regime, private entities must only secure an SPS-IC from the BPI prior to importing rice. This is because RA 11203, or the rice trade liberalization law, removed the power of the National Food Authority (NFA) to regulate the local rice market and issue import licenses.

The BPI is mandated to act on every application to secure an import permit within seven days.

Failure to do so would mean automatic approval of the application.

The entry of cheaper imports was tagged as the single biggest reason behind the plunge in domestic palay prices. Planters have already lost some P40 billion, as traders slashed their quotations for local palay, according to the Federation of Free Farmers, The average farm-gate price of unhusked rice fell to P17.85 per kilogram in end-June, the lowest

in two-and-a-half years, as rice imports surged past 1.3 MMT, data from the Philippine Statistics Authority showed.

The United States Department of Agriculture (USDA) said in a report that the country’s rice imports this year will rise by 20 percent to a record high of 3 MMT, making the Philippines one of the world’s top buyers of the staple.

The USDA also said purchases of imported rice rose after the government removed the quantitative restriction on rice w it h t he i mplement at ion of RA 11203.

SACKS of imported rice are delivered to a rice seller at San Andres district in Manila in this BusinessMirror file photo.

Editor: Jennifer A. Ng • Monday, August 19, 2019 A5

‘Farmers need cash assistance, not zero-interest loans’ T

HE Federation of Free Farmers Inc. (FFF) said direct cash assistance will allow rice planters to better cope with the adverse effects of a law that eased the restrictions on imports.

FFF National Manager Raul Q. Montemayor also said rice farmers may have a hard time availing loans under a program rolled out by the Department of Agriculture (DA) and the Land Bank of the Philippines (LandBank) due to the bank’s stringent requirements.

“LandBank is not geared for direct lending to farmers, and farmers cannot comply with their requirements, even if the interest rate is zero,” Montemayor told the BusinessM irror in a recent interview.

“The only viable approach is to lend through conduits, such as cooperatives, rural banks, and other microfinance institutions. But again, the reach is limited and the funds might go only to those who are already being serviced by the conduits,” he added.

Instead of a cash transfer program, the government will roll out a P1.5billion loan program with zero interest rate for rice farmers who incurred losses due to influx of cheaper imports after Republic Act (RA) 11203 took effect on March 5.

Agriculture Secretary William D. Dar on Friday said the lack of funds forced the DA to scrap its initial plan of implementing a conditional cash transfer program.

Montemayor, who is also the chairman of the Philippine Council for Agriculture and Fisheries, said the loan program does not address the immediate problem of farmers—the low palay-buying prices.

“In fact, loan collection may even suffer if palay prices remain low. I think the cash transfer program would be

more impactful,” he said.

“Although some farmers have remarked that they don’t want to be treated as beggars. They just want a fair price for their produce,” Montemayor added.

The DA said the Agricultural Credit Policy Council (ACPC) Governing Council approved last Thursday the Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid).

Under the SURE Aid, rice farmers planting on land 1 hectare and below may apply for a one-time zero-interest loan amounting to P15,000, payable up to eight years.

The SURE Aid would be managed by the LandBank and farmers could start availing it on September 1.

Montemayor also reiterated the FFF’s appeal to the government to initiate trade remedies that will curb the influx of rice imports and help stabilize local palay prices.

“The fastest would be the special safeguard duty if the strategy is to temporarily stem the flow of imports into the country,” he said.

“It might not be enough, but it could send a message to importers to wait until the safeguard duty expires at the end of the year. Then couple this with intensified [National Food Authority] buying,” he added.

FFF appealed to Dar to slap antidumping duties on imported rice as farmers have lost at least P40 billion due to the 23-percent decline in palay prices.

The group said the entry of at least 1.8 million metric tons of rice after the effectivity of RA 11203 has resulted in a supply glut and pulled down farm-gate prices. This forced traders to lower their quotations for local unhusked rice from farmers. Jasper Emmanuel Y. Arcalas

A6

Monday, August 19, 2019 • Editor: Angel R. Calso

The World BusinessMirror

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Tens of thousands flood HK park for new rally

H

ONG KONG—Heavy rain fell on tens of thousands of umbrella-ready protesters on Sunday as they started marching from a packed park in central Hong Kong, where mass pro-democracy demonstrations have become a regular weekend activity.

W hile recent rallies have been marked by violent clashes with police, organizers said they hoped Sunday’s assembly would be peaceful.

“We hope that there will not be any chaotic situations today,” said organizer Bonnie Leung.

“We hope we can show the world that Hong Kong people can be totally peaceful.”

Leung’s group, the Civil Human Rights Front, has organized three massive marches in Hong Kong since June. While those marches were peacef u l, the

PROTESTERS gather during a rally at Victoria Park in Hong Kong on Sunday, August 18, 2019. Thousands of people streamed into a park in central Hong Kong on Sunday for what organizers hope will be a peaceful demonstration for democracy in the semiautonomous Chinese territory. APPLE DAILY VIA AP

movement has been increasingly marked by clashes between protesters and police.

In Beijing, a spokesman for China’s ceremonial legislature condemned statements from US lawmakers supportive of Hong Kong’s pro-democracy movement.

You Wenze called the lawmakers’ comments “a gross violation of the spirit of the rule of law, a blatant double standard and a gross interference in China’s internal affairs.”

He said that Hong Kong’s 7.5 million people and Chinese population as a whole rejected the actions of a

“very small group of violent protesters,” as well as “any interference of foreign forces.”

You did not mention any specific lawmaker, but numerous US senators and Congress members, including House Speaker Nancy Pelosi, have affirmed the US commitment

to human rights and urged the Hong Kong government to end the standoff.

Congress also has the power to pass legislation affecting Hong Kong’s relationship with the US in ways that could further erode the territory’s reputation for stability and rule of law.

That includes the recent reintroduction of the Hong Kong Human Rights and Democracy Act in Congress, which would among its other provisions require the secretary of state to issue an annual certification of Hong Kong’s autonomy to justify special treatment afforded to the city.

More directly, President Donald Trump could simply issue an executive order suspending Hong Kong’s special trading status with the US, a move that could have a devastating effect on the local economy at a time when Beijing and Washington are engaged in a bitter trade war.

The movement’s demands include Lam’s resignation, democratic elections and an independent investigation into police use of force.

Members of C hina’s pa ramilitary People’s Armed Police force have been training for days across the border in Shenzhen, including on Sunday morning, fueling speculation that they could be sent to suppress the protests.

The Hong Kong police, however, have said they are capable of handling the protests. AP

China flexes muscle near HK amid more weekend rallies

S

HENZHEN, China—Members of China’s paramilitary People’s Armed Police marched and practiced crowd control tactics at a sports complex in Shenzhen across from Hong Kong in what some interpreted as a threat against pro-democracy protesters in the semiautonomous territory.

The sound of marching boots and synchronized shouts echoed from the grounds on Friday. Officers in green camouflage stood guard at closed entrances. A stadium security guard said “it wasn’t clear” when the paramilitary police would leave the grounds.

Chinese state media have only said that the Shenzhen exercises were planned earlier and were not directly related to the unrest in Hong Kong, though they came shortly after the central government in Beijing said the protests were beginning to show the “sprouts of terrorism.”

From a distance, police could be seen conducting drills in military fatigues, using shields, poles and other riot-control gear. In one exercise, two groups marched in formation with those in front raising shields as if to protect themselves from projectiles. Others behind held red flags and banners. The words “the law” and “prosecuted” could be seen on one.

Outside, dozens of armored carriers and trucks sat in the parking lot of the Shenzhen Bay Stadium, close to a bridge linking mainland China to Hong Kong.

Asked if Hong Kong police could maintain order or if mainland Chinese intervention is becoming inevitable, Hong Kong Police Commander Yeung Man-pun said that while they face tremendous pressure, “I can tell you we’re confident the police have the capability

THIS August 16, 2019, photo shows armored vehicles and troop trucks are parked outside Shenzhen Bay Stadium in Shenzhen, China. Members of China’s paramilitary People’s Armed Police marched and practiced crowd control tactics at a sports complex in Shenzhen across from Hong Kong on Friday, in what some interpreted as a threat against pro-democracy protesters in the semiautonomous territory. MADOKA IKEGAMI/KYODO NEWS VIA AP

to maintain law and order.”

Germany, meanwhile, said it considers China to be a responsible actor that will respect Hong Kong laws guaranteeing freedom of speech and rule of law.

Government Spokesman Steffen Seibert said Friday that Hong Kong’s 1997 Basic Law, under which the city was promised a high degree of autonomy when the former British colony returned to China, “is a Chinese law, and as such we naturally expect that the People’s Republic of China, too, won’t call into question the peaceful exercise of these rights.”

Weeks of protests in Hong Kong have been marked by increasing violence and a shutdown of the Hong Kong

airport earlier this week. The demonstrators are demanding expanded political rights and the scrapping of legislation that could have seen criminal suspects sent to mainland China.

A weekend of protests began Friday night with a university student-led “power to the people” rally in Chater Garden, a public square in the financial district.

Police have denied permission for another march on Sunday, but protesters have ignored such denials in the past.

China has pressured foreign and Hong Kong companies to support the ruling Communist Party’s position against the protesters.

The CEO of Cathay Pacific Airways, one of Hong Kong’s most prominent companies, resigned Friday following pressure by Beijing on the carrier over participation by some of its employees in the anti-government protests.

Cathay Pacific said Rupert Hogg resigned “to take responsibility” following “recent events.”

The company chairman, John Slosar, said in a statement the airline needed new management because events had “called into question” its commitment to safety and security.

Last week, China’s aviation regulator said Cathay Pacific employees who “support or take part in illegal protests, violent actions, or overly radical behavior” are banned from staffing flights to mainland China.

On Friday morning, Frenchman Alain Robert, who has been dubbed “spiderman” for his unauthorized climbs of skyscrapers, hung a banner appealing for peace as he scaled the 62-story Cheung Kong Center, a landmark Hong Kong building that is the base for property tycoon Li Ka-shing’s business empire.

The banner showed the Chinese and Hong Kong flags over a handshake and a small yellow sun with a smiley face.

“The banner is to give joy and smile to the people of Hong Kong,” he told the AP as he sat in a taxi about to leave for his climb. He added that he didn’t want to get “mixed up in the political situation.”

Robert, 57, was taken to a police station afterward. It wasn’t immediately clear if he would be charged. He was banned in 2017 from returning to Hong Kong for one year after climbing another building. AP

Lost in Trump’s China week was a postcard to Europe: You’re next

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RESIDENT Donald J. Trump drew much attention this past week on matters ranging from wanting to buy Greenland to a supporter’s weight problems, that it was easy to miss some of his more stinging remarks on trade.

While much of the focus was on his plans to divide up implementation of the next round of 10-percent tariffs on Chinese imports between September 1 and December 15, and on the stock market plunge that followed, comments he made at a rally in New Eng-

land signaled no backing down from his views about imbalances elsewhere.

“The European Union is worse than China, just smaller. It treats us horribly: barriers, tariffs, taxes,” he told a crowd in Manchester, New Hampshire, a city originally modeled after its industrial namesake in England. “They treat us really badly.”

It’s hardly the first time he’s gone there with the EU. But Eurostat numbers on Friday didn’t help the continent’s case with Trump, who sees a ledger with more exports than imports as

winning. The EU’s trade surplus with the US stood at almost €75 billion ($83 billion) in the first half of 2019, up more than 11 percent from a year earlier.

Germany’s surplus is by far the largest in the bloc.

Tariff tensions between the US and China are catching much of the blame for recent turmoil in financial markets because it involves the world’s two largest economies. It’s hard to fathom the additional fallout if Europe gets engulfed next in Trump’s trade wars.

That Trump isn’t softening up his rhetoric on some of the biggest US allies in Europe is important for a couple of reasons—both coming up fast, and both fuel for more trade war uncertainty. Among them: UK Prime Minister Boris Johnson has said he’s committed to delivering Britain’s exit from the EU on October 31, without an agreement if necessary—a scenario economists say would harm the economy amid disruptions in, among other things, cross-border commerce. Bloomberg News

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Monday, August 19, 2019 A7

Argentina economic chief Trump muses about 100% French resigns after market rout wine tariff to retaliate against France

A

RGENTINE Economy Minister Nicolas Dujovne resigned Saturday, capping a week of market chaos that followed President Mauricio Macri’s stunning loss in a primary vote.

Dujovne, who led bailout negotiations between Argentina and the International Monetary Fund (IMF) last year, justified his departure by saying the government needs “significant renewal in the economic area” following Macri’s defeat to leftist Alberto Fernandez on August 10.

“No doubt we’ve made mistakes, which we never failed to acknowledge and which we tried to correct as much as possible,” Dujovne wrote in a letter to the president. “It’s been an honor for me to serve in your government.”

Hernan Lacunza, economy minister for the province of Buenos Aires, will replace Dujovne, according to a statement from the presidential palace.

Dujovne’s departure comes at the end of a week that has seen Argentina’s peso and sovereign bonds fall to record lows. Fitch Ratings and S&P Global on Friday downgraded Argentina deeper into junk citing the possibility of a sovereign debt default. Investors have been dumping Argentine assets for fear that Fernandez may shun the IMF deal and implement interventionist policies if elected on October 27.

Macri rolled out several economic measures this

week to appease voters, including tax breaks and plans to increase the minimum wage while freezing fuel prices. Local media had reported that Dujovne didn’t support the measures because they could violate fiscal targets agreed upon with IMF in exchange for a $56-billion credit line. An IMF spokesman declined to comment.

Dujovne’s tenure was plagued by the unpopular IMF deal, significant spending cuts, recession and inflation over 50 percent. While the economy was showing signs of improvement in May and June, this week’s market rout is likely to put it back in the red.

New Minister

LACUNZA, 50, has since December 2015 been the economy minister for the Buenos Aires province, the biggest in the country with more than 16 million inhabitants. He was general manager and chief economist at the central bank between 2005 and 2010, after which he founded Empiria, an economic consunting firm.

A big soccer fan, Lacunza speaks calmly and will need a cool head to maintain an open channel with the IMF while attending to the needs of Argentines. As the peso’s drop increases prices of imported goods, inflation is likely to accelerate again, adding to the pain of a country suffering double-digit unemployment. Bloomberg News

P

RESIDENT Donald J. Trump suggested he might impose a 100-percent tariff on French wine to retaliate for President Emmanuel Macron’s tax on multinational technology companies, according to two people with knowledge of his comments made at a recent Long Island fundraiser.

It’s unclear if Trump, at a roundtable portion of an event in the Hamptons on August 9 hosted by billionaire businessman Steven Ross with about a dozen wellheeled donors, was being totally serious.

The US Trade Representative’s office is holding a public hearing on Monday with US industry representatives affected by France’s move. After a comment period ends August 26, trade chief Robert Lighthizer could recommend that tariffs on French products would be a sufficient response to offset the technology tax. The

USTR opened its investigation in July.

The White House and the US Trade Representative’s office didn’t immediately respond to requests for comment on Trump’s plans.

Trump on July 26 raised the possibility of “substantial” retaliation against France over the proposed tax. “It might be on wine, it might be on something else,” he told reporters, adding that he may make a move before the Group of Seven leaders’ meeting in Biarritz, France, which starts on August 24.

Frequent critic

THE law signed by Macron imposes a 3percent tax on the revenue of technology giants, such as Facebook Inc. and Amazon. com Inc. Trump is a frequent critic of those companies, but bristled at the idea of a foreign government setting their terms of trade. “We tax our companies, they don’t tax our companies,” Trump said at the time.

“I’ve always liked American wines better than French wines, even though I don’t drink wine,” the president said in the Oval Office on July 26. The president is a teetotaler, but one of his family businesses is a vineyard in Charlottesville, Virginia.

The French tax “appears to be an attempt to garner leverage” in a multilateral process as nations seek a consensus on taxing digital companies,theUSChamberofCommercesaid.

“However,insteadofhelpingtheprocessalong, this unreasonable tax policy will likely make consensus even more difficult to attain.”

The Chamber, in comments submitted to USTR this week, said it doesn’t support the application of tariffs to French goods as a remedy. Bloomberg News

A $1.6-billion horror as Ghana investors can’t get their savings

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SAAC and Bless Boahen saved for months to fund her economics doctorate, but when the time came to cash in the investment, they were left empty handed.

The couple are among at least 70,000 investors who have become collateral damage from a cleanup of Ghana’s banking industry. The crackdown, which reduced the number of

lenders by a third and saw the closure of 23 savings and loans companies, also triggered a run on fund managers, who couldn’t sell their holdings fast enough to meet demand.

That’s tying up as much as 9 billion cedis($1.6billion)ofinvestments,more than a third of the 25 billion cedis in assetsthatprivatefundmanagersoversee for retail and institutional investors.

“My wife was very disturbed,” the 36-year-old said by phone from Kumasi in Ghana’s Ashanti region.

They’re not getting answers and are now worried they’ll never get back the 12,000 cedis they expected back from their investment. “If I knew this would happen, I wouldn’t have gone there.”

They’re in for a long wait. The nation’s markets regulator is look-

ing into whether 21 fund managers violated rules by placing their clients’ money into illiquid assets. The Securities and Exchange Commission has stepped up the pressure, blocking these money managers from accepting new investments for fear they may pay out existing investors.

“The harm has already been done,” Lord Mensah, a senior finance lectur-

er at the University of Ghana, said by phone. “Assets need to be protected.”

As much as 5 billion cedis is tied up in unlisted bonds, direct privateequity stakes and other deals with small- and medium-sized businesses, according to the SEC. Another 4 billion cedis is stuck in fixed-term investments with banks rescued during the cleanup, savings and loans

companies, and microlenders.

The SEC hasn’t yet released a list of all the fund managers it is investigating. An 11.2-billion-cedis bailout for lenders that were closed down and another package of about 925 million cedis for microcredit companies whose licenses were revoked is helping to release some of the funds locked up in those segments. Bloomberg News

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A10 Monday, August 19, 2019

Afghan officials: Suicide attack at wedding hall kills 63

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ABUL, Afghanistan— The death toll from a late-night suicide bombing at a crowded wedding party in the Afghan capital rose to at least 63 on Sunday, including women and children, officials said. It was the deadliest attack in Kabul this year.

Another 182 civilians were wounded in the Saturday night explosion, government Spokesman Feroz Bashari said. Interior Ministry Spokesman Nusrat Rahimi confirmed the casualty toll as families began to bury the dead. Some helped to dig graves with their bare hands.

Kabul residents were outraged as there appears to be no end to violence even as the United States and the Taliban say they are nearing a deal to end their 18-year conflict, America’s longest war.

The Taliban condemned the attack as “forbidden and unjustifiable” and denied any involvement, leading many to suspect the Islamic State group’s local affiliate in Afghanistan in the attack.

Both the Taliban and IS have carried large-scale attacks in the Afghan capital in the past.

The blast occurred in a western Kabul neighborhood that is home to many of the country’s minority Shiite Hazara community.

IS has claimed responsibility for many attacks targeting Shiites in the past. The bomber detonated his explosives near the stage where musicians were playing and “all the youths, children and all the people who were there were killed,” said eyewitness Gul Mohammad.

Ahmad Omid, a survivor, said about 1,200 guests had been invited to the wedding of his father’s cousin.

“I was with the groom in the other room when we heard the blast and then I couldn’t find anyone,” he said. “Everyone was lying all around the hall.”

Amid the carnage were blood-covered chairs, crushed music speakers and a pile of abandoned shoes.

The blast at the hall, known as Dubai City wedding hall, shattered a period of relative calm in Kabul. On August 7, a Taliban car bomb aimed at Afghan security forces detonated his explosives on the same road, killing 14 people and wounding 145—most of them women, children and other civilians.

Kabul’s huge, brightly lit wedding halls are centers of community life in a city weary of decades of war, with thousands of dollars spent on a single evening.

“Devastated by the news of a suicide attack inside a wedding hall in Kabul. A heinous crime against our people; how is it possible to train a human and ask him to go and blow himself [up] inside a wedding?!!” Presidential Spokesman Sediq Seddiqi said in a Twitter post.

Messages of shock poured in on Sunday. “Such acts are beyond condemnation,” the European Union mission to Afghanistan said.

“An act of extreme depravity,” US Ambassador John Bass said.

The wedding halls also serve as meeting places, and in November, at least 55 people were killed when a suicide bomber sneaked into a Kabul wedding hall where hundreds of Muslim religious scholars and clerics had gathered to mark the birthday of the Prophet Muhammad. The Taliban denied involvement in that attack, and IS did not claim responsibility.

Saturday night’s explosion came a few days after the end of the Muslim holiday of Eid al-Adha, with Kabul residents visiting family and friends, and just ahead of Afghanistan’s 100th Independence Day on Monday. The city, long familiar with checkpoints and razor wire, has been under heavier security ahead of the event.

The blast also comes at a greatly uncertain time in Afghanistan as the US and the Taliban appear close to a deal on ending the war. The Afghan government has been sidelined from those discussions, and Seddiqi on Saturday said his government was waiting to hear results of President Donald J. Trump’s meeting Friday with his national security team about the negotiations.

Top issues include a US troop withdrawal and Taliban guarantees they would not allow Afghanistan to become a launching pad for global terror attacks. But many Afghans fear that terror attacks inside the country will continue, and their pleas for peace—and for details on the talks—have increased in recent days. AP

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Mexico assesses M protest damage

EX ICO CIT Y—Workers erected a wooden wall around Mexico City’s iconic Angel of Independence monument Saturday after feminists defaced it with graffiti during a raucous and violent protest over a string of alleged rapes by police.

The disorder on Friday night erupted as part of protests that arose this

week over a perception that city officials were not adequately investigating the rape accusations. Both victims were teenagers. The demonstrations have become known as the “glitter protests” after marchers doused the city’s police chief in pink glitter.

Hundreds of city workers spent the wee hours of the morning pressurecleaning and painting over graffiti.

The deputy director of artistic patrimony at the National Fine Arts Institute, Dolores Martínez, said at the base of the statue that officials were assessing the damage to the Angel and other points in the capital that protesters attacked.

At the same time, Martínez added, the fine arts institute “respects freedom of speech and offers support

Monday, August 19, 2019 A11 for actions to eradicate all forms of violence against women.”

Protesters wrote phrases like “They don’t take care of us” and “rape state” in lime green, purple and black spray paint across the base of the Angel monument, which commemorates Mexico’s independence from Spain and is often the site of celebrations by city residents. AP

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S. No. 2063 H. No. 9051

Republic of the Philippines Congress of the Philippines Metro Manila Seventeenth Congress Third Regular Session

Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand eighteen.

[Republic Act. No. 11364] AN

ACT REORGANIZING AND STRENGTHENING THE COOPERATIVE DEVELOPMENT AUTHORITY, REPEALING FOR THE PURPOSE REPUBLIC ACT NO. 6939, CREATING THE COOPERATIVE DEVELOPMENT AUTHORITY

Be it enacted by the Senate and House of Representatives of the Philippines it Congress assembled: SECTION 1. Short Title. - This Act shall be known as the "Cooperative Development Authority Charter of 2019".

SEC. 2. Declaration of Policy. - It is hereby declared the policy of the State to promote the viability and growth of cooperatives as instruments of equity, social justice and economic development and to create an agency, in fulfillment of the mandate in Section 15, Article XII of the 1987 Constitution.

The State recognizes cooperatives as associations organized for the economic and social betterment of their members, operating business enterprises based on mutual aid, and founded upon internationally accepted cooperative principles and practices. The State also recognizes the Cooperative Development Authority as primarily responsible for the institutional development and regulation of cooperatives through partnership with the cooperative sectors and the academe. Accordingly, the State recognizes the right of the cooperatives to initiate and foster within their own ranks cooperative promotion, organization, training, information gathering, audit and support services, with government assistance where necessary.

In furtherance of this policy, the National Economic and Development Authority (NEDA) and the Department of Trade and Industry (DTI) shall include the promotion of growth and expansion of cooperatives as major and indispensable components of national development plans. The Department of Finance (DOF) and the Department of Budget and Management (DBM) shall provide the mechanism to ensure availability of resources to implement such plans.

The government and all its branches, subdivisions, instrumentalities and agencies shall continue to provide technical guidance, financial assistance and other services to enable the cooperatives to develop into viable and responsive economic enterprises towards a strong cooperative movement, free from condition which infringes upon the objectives and character of cooperatives. The State shall, except as provided in this Act, maintain the policy of noninterference in the management and operations of cooperatives.

SEC. 3. Cooperative Development Authority (CDA). - The CDA created under Republic Act No. 6939, hereinafter referred to as the Authority, is hereby strengthened and reorganized to carry out the provisions of this Act and those of Republic Act No. 6938, as amended by Republic Act No. 9520, otherwise known as the "Philippine Cooperative Code of 2008".

The Authority shall have its head office in the National Capital Region (NCR), and shall maintain the existing sixteen (16) extension offices. In the case of the NCR, the same shall be comprised of field district offices and shall maintain offices and branches in such other places as the proper conduct of its business shall require.

The Authority shall be an agency attached to the DTI for policy and program coordination for cooperatives.

SEC. 4. Powers, Functions and Responsibilities. - The Authority shall have the following powers and functions:

(a) Develop and formulate, in consultation with the cooperative sector and other concerned institutions, appropriate regulations, standards, rules, orders, guidelines and/or circulars to implement this Act and Republic Act No. 9520 to ensure the effective and sound operation of cooperatives; (b) Formulate, adopt and implement integrated and comprehensive plans and programs on cooperative development consistent with the national policy on cooperatives and establish an integrated framework on cooperative development for all government agencies; (c) Register all cooperatives including amendments to the Articles of Cooperation and Bylaws (ACBL), division, merger, and consolidation;

(d) Authorize the establishment of branches and satellite offices of cooperatives;

(e) Issue Certificate of Recognition to organized Laboratory Cooperatives; (f) Exercise supervision and jurisdiction over all types and categories of cooperatives registered with the Authority;

(g) Require the submission of annual reports, audited financial statements, and such reports in compliance with Republic Act No. 9520, in such forms as may be prescribed by the Authority; (h) Create an information system from the reports and other documents submitted by cooperatives;

(i) Promulgate and issue guidelines on the specific use and utilization of statutory funds and obligations that will achieve the real intent and spirit of establishing such funds and obligations for the benefit of the cooperatives and communities they serve;

g) Prescribe and collect reasonable fees, fines or charges in the performance of its registration and regulatory functions; (k) Require registered cooperatives to develop business continuity plans to address all kinds of risks; (l) Grant awards, recognition and incentives to cooperatives, cooperative leaders and partners; (m) Administer all grants and donations exclusively intended for cooperatives coursed through the Authority for cooperative development, without prejudice to the right of cooperatives to directly receive and administer such grants and donations upon agreement with the gr antors and donors thereof;

(n) Conduct regular inspection or examination of a cooperative in accordance with the rules and regulations promulgated by the Authority and, when deemed necessary, conduct examination and investigation to protect the interest and welfare of the members of cooperatives and the general public.

For this purpose, cooperative federations, unions, local government units (LGUs), cooperative development offices (CDOs), cooperative federations and unions, and the alliance of cooperatives representing all types and categories of cooperatives as the consultative and coordinating body of the Authority, may be requested by the Authority to assist in the inspection and examination of a cooperative;

(o) Develop and conduct management and training programs that will provide members of cooperatives with the entrepreneurial capabilities, managerial expertise, and technical skills required for efficient operation of their cooperatives and inculcate in them the true spirit of cooperativism and provide, when necessary, technical and professional assistance to ensure the viability and growth of cooperatives with special concern for agrarian r eform, agriculture, fishery and the economically depressed sectors;

(p) Conduct investigations, file necessary charges, discipline, suspend and/or remove erring officers and members of the cooperative for violation of cooperative laws, rules, regulations, issuances of the Authority, the ACBL, after due process, and direct the general assembly to replace the suspended/removed officers, in

accordance with the rules and regulations as may be promulgated by the Authority;

(q) Order the suspension or cancellation of the Certificate of Registration of cooperatives and/or the revocation of the Letter of Authority and/or Certificate of Authority to establish and operate satellite or branch offices, respectively, after due notice and hearing for noncompliance with lawful orders, rules and regulations of the Authority, including the ACBL of the cooperative subject to the conditions as defined in the implementing rules and regulations (IRR) of this Act;

(r) Order the dissolution and liquidation of cooperatives as well as the transfer of all or substantially all of their assets and liabilities;

(s) Compel the cooperative to call a general or representative assembly, as deemed necessary, under the supervision of the Authority with the participation of their respective cooperative federations or unions, subject to the criteria or conditions to be defined in the IRR issued for this purpose; (t) Hear and decide inter-cooperative and intracooperative disputes, controversies and/or conflicts, without prejudice to filing of civil and/or criminal cases by the parties concerned before the regular courts: Provided, That all decisions of the Authority are appealable directly to the Court of Appeals;

(u) Adopt and implement a dispute resolution mechanism that will settle conflicts between and among members, officers, and directors of cooperatives, and between and among cooperatives in accordance with Article 137 of Republic Act No. 9520, which amended Republic Act No. 6938, and Republic Act No. 9285, otherwise known as the "Alternative Dispute Resolution Act of 2004".

However, in case of election related issues, the aggrieved party may elevate the case for adjudication to the Authority without undergoing through the alternative dispute resolution; (v) Issue cease and desist orders to cooperatives and responsible parties specified under Article 137 of Republic Act No. 9520, and such other orders and notices to preserve the assets and documents of the cooperatives subject of the dispute or litigation;

(w) Issue subpoena ad testificandum and subpoena duces tecum for the pruties to appear and produce documents in any proceedings of the Authority and in appropriate cases, order the examination of all documents, papers, files and records of any cooperative or person under investigation as may be necessary for the proper disposition of cases before it; (x) Cite for contempt any person guilty of misconduct in the presence of the Authority which seriously interrupts any hearing or inquiry and impose a fine of not more than Five thousand pesos (P5,000.00) or imprisonment of not more than ten (10) days, or both.

Acts constituting indirect contempt as defined under Rule 71 of the Rules of Court shall be punished m accordance with the said Rule; (y) Implement and enforce its decision and orders with the assistance of deputized law enforcement agencies or the LGU concerned as may be necessary; (z) Recognize sectoral apex organizations and a national alliance representing all types and categories of cooperatives which sha ll function as the overall consultative and coordinating body with the Authority, for this purpose, the pertinent provisions of Republic Act No. 9520 are hereby amended accordingly, and the Authority shall issue the necessary IRR for this provision;

(aa) Establish a consultative mechanism consistent with Section 18 of this Act in order to provide the cooperative sector a system to ensure participation on matters concerning government plans , programs, and policies affecting cooperatives;

(bb) Coordinate with the provincial, city, or municipal cooperative offices the adoption and implementation of national plans, programs and policies on cooperative development, and to establish partnership in the promotion, organization, and development of cooperatives within the jurisdiction of the LGUs; (cc) Establish the formation and organization of cooperative development councils in the national, regional, provincial, city and municipal levels in order to provide the cooperative movement a system for policy consultation and program coordination in accordance with the guidelines to be prescribed by the Authority; (dd) Collaborate with concerned agencies that can provide technical, profession al, and marketing assistance including trainings on transfer of technology to ens me the viability, growth, competitiveness and innovativeness of cooperatives giving special concern to agrarian reform, agriculture, fishery and the economically depressed sectors;

(ee) Provide assistance on cooperative product development and facilitate their marketing both in the domestic and international market in coordination with the concerned agencies;

(ff) Designate a representative in the Regional Development Council (RDC) and in its sectoral committees, as a regular voting member thereof;

(gg) Establish linkages with the academe and other institutions, both local and international, for education, training and research for cooperatives; (hh) Formulate, adopt and implement an educational and technological exchange program both in domestic or international levels;

(ii) Formulate, adopt and implement, in a manner consistent with Section 17 of this Act, a standard of training for cooperative officers or members which shall focus on basic cooperative principles and values, good governance, business and entrepreneurial management, human resource management, risk management, conflict management, and technical skills required for the efficient and effective operations of the cooperatives;

(jj) Establish and maintain a continuing educational and capability building program for the Authority; and

(kk) Exercise such other powers and functions as may be necessary to implement the provisions of this Act and of Republic Act No. 9520.

SEC. 5. The Board of Directors. - The Authority shall have a Board of Directors, which shall be the collegial policymaking body of the Authority. It shall be composed of the Chairperson, with the rank and privilege of an Undersecretary, and six (6) Members of the Board, with the rank and privilege of an Assistant Secretary, all of whom shall be appointed by the President of the Philippines and chosen among the nominees from the cooperative sector. There shall be one (1) board of director from each of the following cluster of cooperatives:

(a) Credit and Financial Services, Banking, and Insurance;

(b) Consumers, Marketing, Producers, and Logistics;

(c) Human Services: Health, Housing, Workers, and Labor Service;

(d) Education and Advocacy; (e) Agriculture, Agrarian, Aquaculture, Farmers, Dairy, and Fisherfolk; and (f) Public Utilities: Electricity, Water, Communications, and Transport.

The Secretaries of the DTI and the Department of the Interior and Local Government (DILG) shall serve as ex officio Members of the Board and may designate an alternate in a permanent capacity with a rank of at least an Assistant Secretary and whose acts shall be considered as that of the principal.

As far as practicable, there shall be at least one (1) lawyer Member of the Board, and gender balance shall be observed in the membership of the Board.

SEC. 6. Powers and Functions of the Board. - The Board as a collegial body shall be responsible for policy formulation, strategic planning and direction setting of the agency and shall exercise the following powers and functions:

(a) Formulate policies, rules and regulations consistent with the provisions of Republic Act No. 9520 and this Act; (b) Adopt IRR for the conduct of the internal operations of the Authority;

(c) Organize the operating structure and functions of the Authority; (d) Approve the work and financial plan of the Authority; (e) Approve annual, medium-term and long-term cooperative development plans of the Authority consistent with the overall socioeconomic development policy of the national government;

(f) Provide overall direction to the Authority, defining the respective roles of the national government agencies (NGAs), LGUs, people's organizations, private sector and nongovernment organizations (NGOs)

in the pr omotion and development of the cooperative sector; (g) Conduct regular policy consultations with the cooperative sector, government agencies, LGUs, people's organizations, private sector, NGOs, and other stakeholders on the Authority's policies, programs and initiatives;

(h) Decide cases involving cooperatives that are submitted to the Board for resolution; (i) Authorize the Chairperson or the Administrator to enter into contracts or agreements in behalf of the Authority;

g) Approve and submit the annual proposed budget of the Authority to the President of the Philippines through the DBM; and

(k) Formulate rules and regulations and exercise such other powers as may be required to implement the objectives of this Act.

SEC. 7. Qualifications of the Chairperson and the Mem.bers of the Board. - The Chairperson and the Members of the Board must possess the following qualifications:

(a) Natural born Filipino citizen;

(b) Holder of any bach elor's degree;

(c) With five (5) years experience as an officer of a cooperative in the cluster one represents; and

(d) Must be a resident of the Philippines for at least five (5) years prior t o appointment.

Any person appointed as Chairperson or Member of the Board shall, upon appointment, divest oneself of any direct or indirect pecuniary inte1¡est or dealings with any cooperative.

SEC. 8. Term of Office. - The Chairperson and Members of the Board shall serve for a term of six (6) years, without reappointment: Provided, That the Chairperson or a Member of the Board who has served the unfinished term of the one he/she succeeded and has served for less than one-half (1/2) of the full term sh all be eligible for reappointment.

SEC. 9. Removal from Office. - The Chairperson and the Members of the Board may be removed from office for cause.

The person appointed for the unexpired term shall be eligible for reappointment: Provided, That the unexpired term is less than one-half of the prescribed term.

SEC. 10. Meetings of the Board. - The Board shall meet at least once a month for the transaction of its regular business. Under exceptional circumstances, special meetings may be called by the Chairperson or majority of the Members to discuss and decide urgent matters. A majority vote by the entire Board shall be required for a decision.

The meeting sh all be presided by the Chairperson. However, in the absence of the Chairperson, the most senior Member of the Board in terms of appointment shall serve as the Acting Presiding Officer, or in his/her absence the Board shall elect from among themselves an Acting Presiding Officer.

All regular and special meetings of the Board shall be held at the head office of the Authority or in any other place as may be determined by the Board.

SEC. 11. Office of the Administrator and the Deputy Administrators.

- The Administrator of the Authority shall be appointed by the Presiden t of the Philippines, as recommended by the Board of Directors, who shall have the rank of an Assistant Secxetary, and shall execute and administer the policies, decisions, orders and resolutions approved by the Board and shall have the general executive direction and supervision of the work and operation of the Authority.

There shall be five (5) Deputy Administrators appointed by the Board of Directors who shall assist the Administrator, and who will be charged with the following specific concerns:

(a) General Administration and Support Services;

(b) Institutional Development;

(c) Legal Affairs;

(d) Registration, Supervision and Examination; and

(e) Credit Surety Fund (CSF).

SEC. 12. Qualifications of the Administrator. - The Administrator must possess the following qualifications:

(a) Natural born Filipino citizen;

(b) Holder of any bachelor's degree;

(c) Must possess the necessary civil service eligibility; and

(d) With five (5) years experience as an officer of a cooperative or off1cial or employee in a government office or NGO dealing with cooperatives.

Any person appointed as Administrator shall, upon appointment, divest oneself of any direct or indirect pecuniary interest or dealings with any cooperative.

SEC. 13. Powers and Ftmctions of the Administrator. - The Administrator of the Authority shall have the following powers and functions: (a) Prepare, consolidate and submit periodic reports for the consideration of the Boaxd; (b) Implement a human resource management system in accordance with existing civil service laws, rules and regulations that will promote professionalism and excellence in accordance with sound principles of management;

(c) Prepare the proposed annual and supplemental budget of the Authority for the consideration and approval of the Board;

(d) Submit report to the President of the Philippines and Congress on the performance and accomplishment of the Authority on an annual basis; (e) Appoint personnel lower than the position of Deputy Administrators; (f) Represent the Authority in all undertakings and where its presence is required; and

(g) Perform such other functions as may be required by law.

SEC. 14. Registration for Tax Exemption. - The Authority shall furnish the Bureau of Internal Revenue (BIR), LGUs which include provinces, highly-urbanized and independent cities, and other concerned agencies a certified list of duly registered cooperatives for purposes of processing tax exemptions.

Any public official or employee who violates or in any manner circumvents this provision shall be dealt with in accordance with Article 140 of Republic Act No. 9520.

SEC. 15. Prohibition. - Except as provided for under Article 130 of Republic Act No. 9520, t he use by any person or organization of the word "cooperative", "coop", "co-op"and 'koop" in their business name, unless duly registered with the Authority, shall be prohibited and shall be penalized under Article 140 of Republic Act No. 9520.

SEC. 16. Settlement of Disputes. - As far as practicable, disputes between and among members, officers, and directors of cooperatives, and between and among cooperatives shall be settled in accordance with Article 137 of Republic Act No. 9520, and Republic Act No. 9285, and Section 4(u) of this Act.

SEC. 17. Training Standards for Cooperative Officers and Members. - The Authority, in partnership with learning and training institutions with the cooperative sector, shall formulate standards of training requirements for cooperative officers and members to ensure compliance thereof.

The Authority may accredit organizations other than cooperatives but duly registered under Philippine laws and engaged in cooperative promotion, organization, research and education, as nonacademic training institutions.

Upon request of cooperatives, state universities and colleges (SUCs) shall provide technical assistance and guidance to cooperatives in the communities where they are located. The sues may engage the support and participation of unions and federations of cooperatives in the implementation of this provision.

SEC. 18. Partnership with the Cooperative Sector. - A strong partnership between the Authority and the cooperative sector and the academe shall be established in implementing the developmental functions of the Authority as stated in Section 4, paragraphs (a), (b), (aa), (bb), (cc), (dd), (ee), (ii) and (jj), and Section 17 of this Act to ensure the maximum participation of the cooperative sector on matters of government plans, projects and policies affecting cooperatives.

The Authority, the cooperative sector, and the academe shall formulate guidelines for the implementation of the partnership that may give rise to the recognition of apex organizations and a national alliance representing all types and categories of cooperatives, as provided for under Section 4(z) of this Act, that shall function as the overall consultative and coordinating body with the Authority.

The Authority shall recognize cooperative unions and federations under Articles 24 and 25 of Republic Act No. 9520, and issue guidelines to promote and develop these secondary cooperatives.

SEC. 19. Cooperatives in the Education System. - The history, philosophy, concepts, values, principles and practices of cooperatives and their role in nation building, shall be part of the curriculum of both in formal and nonformal education.

Notwithstanding existing laws, memorandum orders and directives, cooperativism as a tool for self-empowerment and nation building shall be included in the curricula of senior students in all the secondary educational institutions and in the syllabus of any social and civic studies subject in the K to 12 level.

Cooperatives development and administration may be offered as a field of study in the baccalaureate, post baccalaureate and masteral programs in SUCs: Provided, That SUCs may also offer the courses on a nontraditional approach under the equivalency program of such SUCs accrediting the equivalent training that an officer has undertaken to the relevant subject offering in the curriculum: Provided, further, That in cases where the SUCs do not offer a separate academic program in cooperative development and administration, the sues shall include a three (3)-unit subject in the curricula of accountancy, agribusiness, agriculture, agricultural economics, business, community development, economics, education, environmental sciences, social sciences, political economy and other ctuTicula that can be instrumental in the development of cooperatives.

SEC. 20. Cooperatives in the Agriculture Sector and Fishery Sector. - The promotion and development of agricultural, agrarian and aqua cooperatives: farmers, dairy and fisherfolk and, in coordination with the Department of Agriculture (DA) and its attached agencies and governmentowned and -controlled corporations (GOCCs), Department of Agrarian Reform (DAR), National Commission on Indigenous Peoples (NCIP) and other government agencies shall be a priority program of the Authority to ensuxe food security and reduce rural poverty.

SEC. 21. Cooperatives in the Banking System. - The promotion and development of cooperative banks, as part of the banking system and of financial service cooperatives as defined in Republic Act No. 9520, shall be a special concern of the Authority which shall undertake the necessary program in collaboration with the Bangko Sentral ng Pilipinas (BSP) and the cooperative sector concerned.

SEC. 22. Cooperatives Engaged in Services Couered by Other Laws. - Registered cooperatives shall secure the necessary licenses, franchises, certificates of authority and permits from other appropriate agencies with jurisdiction over their activities, if required by other existing laws, rules and regulations.

SEC. 23. Reorganization of the Attthority. - The Authority shall be reorganized within one hundl¡ed twenty (120) days from the effectivity of this Act in accordance with Republic Act No. 6656, otherwise known as the "Act to Protect the Security of Tenure of Civil Service Officers and Employees in the Implementation of Government Reorganization".

SEC. 24. Transitory Provisions. - Upon the effectivity of this Act , the personnel of the Authority shall, unless removed for cause and after due process, continue to perform their duties and responsibilities without diminution of their rank, salaries and other emoluments.

The CDA created under Republic Act No. 6939 is hereby reorganized and its employees are hereby absorbed in the Authority created under this Act, in accordance with its staffing pattern, subject to civil service laws, rules and regulations and DBM rules and regulations: Provided, finally, That those who opt to retire or separate from office voluntarily shall be given separation pay computed based on DBM guidelines and regulations.

The incumbent Chairperson and Administrators of the CDA shall continue to serve and act as Chairperson and Members of the Board until the new composition of the Board shall have been constituted.

The Authority shall collect existing accounts receivables from the transfer of funds from the DA under Presidential Decree No. 175, as amended, and such other funds coursed through the Authority, or enter into compromise agreements or the condonation of said accounts, subject to r ules and regulations as may be prescribed by the Authority and the Commission on Audit (COA).

All assets and liabilities of the current CDA as well as the unexpended appropriations shall be transferred to the Authority.

SEC. 25. Appropriations. - The amount necessary to implement this Act shall be char ged against the current year's budget of the CDA. Thereafter, the amount necessary for its continued implementation shall be included in the annual General Appropriations Act. SEC. 26. Implementing Rules and Regulations. - The Board shall, in consultation with the cooperative sector and other concerned government agencies, formulate the IRR within ninety (90) days upon the effectivity of this Act. The IRR shall take effect within fifteen (15) days after publication in the Official Gazette or in two (2) newspapers of general circulation.

All subsequent amendments to the IRR shall also be published before taking effect.

SEC. 27. Information Campaign. - The Authority is mandated to conduct a massive information campaign on the provisions of this Act upon its effectivity.

SEC. 28. The Joint Congressional Oversight Committee on Cooperatives (JCOCC). - The Joint Congressional Oversight Committee created under Article 138 of Republic Act No. 9520 shall review and monitor the implementation of this Act.

SEC. 29. Repealing Clause. - Republic Act No. 6939, creating the "Cooperative Development Authority", is hereby nepealed. All other laws, decrees, executive orders, rules and regulations or parts thereof inconsistent with the provisions of this Act are hereby amended or modified accordingly.

SEC. 30. Separability Clause. - If for any cause, any part of this Act is declared uncon stitutional, the rest of the provisions shall remain in full force and effect.

SEC. 31. Effectivity. - This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in at least two (2) newspapers of general circulation.

Approved,

GLORIA MACAPAGAL-ARROYO Speaker of the House of Representatives

VICENTE C. SOTTO III President of the Senate

This Act which is a consolidation of Senate Bill No. 2063 and House Bill No. 9051 was passed by the Senate of the Pllllippines and the Hous of Representatives on June 3, 2019.

DANTE ROBERTO P. MALING Acting Secretary General House of Representatives

MYRA MARIE D. VILLARICA Secretary of the Senate

Approved: AUG 08, 2019

RODRIGO ROA DUTERTE President of the Philippines O

PRRD 2016-011821

BusinessMirror

www.businessmirror.com.ph

Monday, August 19, 2019 A13

S. No. 2228 H. No. 8441

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SECTION 1. Short Title. - This Act shall be known as the ''Balanga Wetland and Nature Park Responsible Ecotomism Act".

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Republic of the Philippines Congress of the Philippines Metro Manila Seventeenth Congress Third Regular Session

Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand eighteen.

[Republic Act. No. 11365] AN ACT DECLARING THE BALANGA WETLAND AND NATURE PARK LOCATED IN BARANGAY TORTUGAS, CITY OF BALANGA, PROVINCE OF BATAAN AS A RESPONSIBLE, COMMUNITY-BASED ECOTOURISM ZONE AND APPROPRIATING FUNDS THEREFOR

Be it enacted by the Senate and House of Representatives of the Philippines it Congress assembled:

SEC. 2. Declaration of Policy. - The State is mandated to promote a tourism industry that is ecologically sustainable, responsible, participative, culturally sensitive, economically viable, and equitable for the local community. Towards this end, the Balanga Wetland and Natme Park (BWNP) is hereby declared a special ecotourism zone. It shall be accorded priority development by the Department of Environment and Natural Resources (DENR), Department of Tourism (DOT), Department of Public Works and Highways (DPWH), and the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and shall be subject to the rules and regulations governing the development of ecotourism zones provided in the national ecotourism strategy jointly issued by the DENR and the DOT.

SEC. 3. Objectives. - Pursuant to the above declaration of policy, the State shall endeavor to accomplish the following: (a) Develop and promote responsible, community-based ecological tourism as the core management strategy in the development of the BWNP; (b) Ensure the conservation of the biodiversity and the preservation of the said ecotourism park; (c) Develop ecotourism products and programs that will generate employment and livelihood for the local residents concerned, consistent with the preservation and maintenance of natural resources;

(d) Guarantee that the financial and economic benefits of the tourism industry are equitably shared by, and distributed among the local residents concerned by giving preference and support to community and home-based tourism enterprises, such as, but not limited to, micro and small businesses including local inns, lodges and homestays, restaurants, food and fruit stands, and other similar tourism oriented industries and businesses; (e) Ensure that the quality of local ecotourism programs and activities are educational and enriching for tourists and visitors through the provision of orientation, educational and tour programs by local tour operators, nongovernment organizations (NGOs), the local government of the City of Balanga, the DENR, and the DOT; and (f) Guarantee that in the development and promotion of the local tom·ism industry, the local government of the City of Balanga shall ensure that the needs of local residents for adequate water supply, food, energy and local construction materials are first secured and met.

SEC. 7. Establishment of a Buffer Zone. - There shall also be established buffer zones surrounding the BWNP for the purpose of providing extra protection around the area, where restrictions shall apply and communities can assist in repealing threats to the BWNP. Such buffer zones shall be managed according to the ecotourism development and management plan formulated pursuant to this Act.

Such buffer zone shall be included in the ecotourism development and management plan of the BWNP: Provided, That no build up or reclamation detrimental to the biodiversity in the BWNP shall be done within the designated buffer zone. The Council shall exercise its authority over the designated buffer zone.

SEC. 8. Balanga Wetland and Nature Pari–Ecotourisnt Development and Management Plan. - The DENR and the DOT, in coordination with the DPWH and the TIEZA, shall jointly assist the Balanga Wetland and Nature Park Development Council, herein created, in the formulation of the ecotourism development and management plan for the BWNP that shall be complemented by a set of guidelines for a responsible, community-based ecotourism. The ecotourism development and management plan shall ensure the preservation of the eco-park and shall include the following components: (a) Carrying capacity of the eco-park and its migratory birds;

(b) Specific site assessment;

(c) Identification of strategic priorities;

(d) Product development for local income generation;

(e) Capacity-building for the local community to allow residents therein to ably manage economically viable and responsible, community-based ecotouxism business enterprises;

(b) Assessment and evaluation of the potential impact of the development to the environmental safety and well-being of the site, communities, and enterprises;

(d) Implementation of a monitoring plan for the waterbirds and their habitats to ensure their presence and well-being in the BWNP; (e) Formulation of the rules and regulations in relation to the maintenance and security of the ecotourism site; and

(h) Regular water quality monitoring of the Talisay River;

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(i) Management and maintenance of the mangrove areas;

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(j) Solid and liquid wastes management; and

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(a) Raise the capacity of all stakeholders and ensme that best practices are followed;

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k) Solutions addressing the problem of the declining popula tion of the waterbirds as reflected in the annual waterbixd census.

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(c) Reduce waste and pollution through the encouragement of recycling and other environmentally-sound waste management reduction and disposal schemes;

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The process of developing the ecotourism development and management plan for the BWNP shall be participatory, from the bottom up, with the framework to be provided by the DOT and the DENR, in consultation with the Balanga Wetland and Nature Park Development Council herein created.

thence N 82°23'0" E 8.90 meters to corner 42;

thence S 68°57'0" E 10.75 meters to corner 43;

thence S 54°29'0" E 15.36 meters to corner 44;

thence S 34°53'0" E 19.55 meters to corner 45;

The guidelines and standards shall:

(b) Ensure optimal use of water and energy;

(d) Prevent vandalism in the facilities of the eco-park; and

In order to protect the mangrove forest in the BWNP, the foreshore areas shall not be leased to any private entity.

(e) Encourage the use of local produce and services, and support the employment of local people.

thence S 13°19'0" W 9.46 meters to corner 46;

SEC. 9. Formation of the Balanga. Wetland and Nature Parh Development Colmcil. - A multi-sectoral council to be known as the "Balanga Wetland and Nature Park Development Council", hereinafter referred to as the Council, shall be created. It shall be composed of the following members:

thence S 33°47'0" E 44.67 meters to corner 47;

thence S 59°14'0" E 17.48 meters to corner 48;

thence N 83°51'0" E 25.33 meters to corner 49;

(b) The head of the City Tourism Office of the City of Balanga as Vice-chairperson;

thence S 39°17'0" E 152.54 meters to corner 50;

thence S 63°16'0" w 225.50 meters to corner 1.

SEC. 12. Coordination with National Agencies. – The DENR and the DOT shall closely coordinate with the Council, as well as the relevant regional offices of the Department of Labor and Employment (DOLE), Department of Public Works and Highways (DPWH), Department of Transportation (DOTr), Department of Agriculture (DA), Department of Education (DepEd), Department of Trade and Industry (DTI), Department of the Interior and Local Government (DILG), Philippine National Police (PNP), Maritime Industry Authority (MARINA) and other line agencies of the government in the implementation of this Act.

to the point of beginning containing an area of one hundred fifty-three thousand five hundred seventy-eight (153,578) square meters, more or less.

(a) The Mayor of the City of Balanga as Chairperson;

(c) The head of the City Environmental and Natural Resources Office of the City of Balanga; (d) The Provincial Government Environment and Natural Resources Officer of Bataan;

(h) The Regional Director of DOT-Region 3;

thence N 12°20'0" W 19.64 meters to corner 2;

(i) The Regional Director of DENR-Region 3;

thence N 34°53'0" W 31.95 meters to corner 3·

(j) The Regional Director of DPWH-Region 3;

thence N 67°41'0" W 14.62 meters to corner 4;

thence N 39° 17'0" W 163.37 meters to corner 5;

k) The DENR-Provincial Environment Resources Officer (PENRO) of Bataan;

(b) Community-based ecotourism refers to a form of tourism where the local community and its residents have substantial control and involvement in the development and management of the local tourism industry and a greater portion of the economic gains remain within the community;

thence N 28°36'0" W 136.14 meters to corner 6;

thence S 81°23'0" W 21.17 meters to corner 7;

thence N 55°31'0" E 181.64 meters to corner 8;

thence S 88°36'0" W 13.61 meters to corner 9;

(c) Ecotourism refers to a form of sustainable tourism within a natur al area where community participation, protection and management of natural resouxces, cultuxal and indigenous knowledge and practices, environmental education and ethics, as well as economic benefits are fostered and pursued for the enrichment of host communities and the satisfaction of visitors;

thence N 32°50'0" E 23.23 meters to corner 10;

thence N 13°19'0" E 9.69 meters to corner 11;

thence N 62°9'0" W 50.35 meters to corner 12;

thence N 33°47'0" W 31.44 meters to corner 13;

thence N 72°36'0" W 39.42 meters to corner 14;

thence N 68°56'0" W 18.40 meters to corner 15;

thence N 46°20'0" W 31.44 meters to corner 16;

(e) Responsible ecotourism refers to a form of sustainable touxism in which both the tourism sector and the tourists take responsibility in the protection, respect, and conservation of the natural environment and the local cultuxe and ways of life, and where community participation as well as economic benefits are fostered and pursued for the well-being of the local people and visitors.

thence N 17°56'0" W 25.90 meters to corner 17;

thence N 13°40'0" W 49.83 meters to corner 18;

thence N 54°30'0" W 21.35 meters to corner 19;

thence N 37°16'0" w 39.34 meters to corner 20;

thence N 14°22'0" E 36.57 meters to corner 21;

SEC. 5. Balanga Wetland and Nature Park Ecotourism – Zone. - The BWNP located in Barangay Tortugas, City of Balanga, Province of Bataan is hereby declared as a responsible, community-based ecotourism zone. It shall be accorded priority development by the DOT, DENR, DPWH, and the TIEZA and shall be subject to the rules and regulations governing the development of ecotourism zones provided in the national ecotourism strategy jointly issued by the DENR and the DOT.

thence N 17°3'0" w 62.98 meters to corner 22;

thence s 83°51'0" w 29.49 meters to corner 23;

thence s 63°16'0" w 152.57 meters to corner 24;

thence N 59°14'0" W 6.29 meters to corner 25;

thence N 44°59'0" W 33.85 meters to corner 26;

thence s 32°39'0" E 877.51 meters to corner 27;

thence N 8°20'0" E 25.02 meters to corner 28;

SEC. 6. Scope and Coverage. -The BWNP, which shall cover an area of one hundred fifty-tlu·ee thousand five hundxed seventy-eigh t (153,578) square meters of mangrove forest and one hundred eighty-seven thousand five hundred (187,500) square meters of foreshore land, is hereby declared an ecotourism zone. Its boundaries shall be as follows:

thence N 4°8' 0" E 31.40 meters to corner 1.

thence N 56° 5'0" W 25.64 meters to corner 2;

(a) Formulation and implementation of the ecotourism development and management plan in consultation with the local residents, businesses, and other stakeholders;

thence S 8°20'0" W 33.87 meters to corner 32;

The local government of the City of Balanga shall provide a Secretariat for the Council including the funding necessary to cover the expenses for the performance of its official functions and activities.

SEC. 10. Functions and Responsibilities of the Council. The Council shall be responsible for the following:

(g) The Chief Operating Officer of the TIEZA;

Beginning at a point marked 1, being N 35°55' E, 335.73 meters from MBM 1, Balanga Cadastre, Bataan.

(e) Conviction by final judgment of any criminal act.

SEC. 11. Formulation of Guidelines and Standards.– The DENR and the DOT shall assist the Council in the formulation of local ecotourism standards ensuring that environmental protection is integrated in the development and management of the ecotourism plans.

(a) Mangrove Forest

(g) Marketing strategies that reflect the natural, social and environmental integrity of the BWNP;

Beginning at a point marked ''1'' on the map, being N 46°59' E, 565.88 meters from MBM #1, Balanga Cadastre, Bataan.

(d) Termination of relationship with the office or organization being represented; or

thence S 32°51'0" W 24.32 meters to corner 31;

(f) The Director of the Biodiversity Management Bmeau (BMB);

(d) Homestay refers to a system of tourist accommodation where a touxist stays with local residents and experiences the day-to-day life within the local community;

(c) Disassociation from the office or organization being represented;

(f) Performance of other functions as may be necessary to carry out the objectives of this Act.

(a) Buffer zone refers to identified area outside the boundaries of and immediately adjacent to the BWNP that needs special development control in order to avoid or minimize harm to the BWNP;

(b) Commission of acts prejudicial to the development and management of the BWNP as embodied in existing rules and regulations governing the BWNP;

(f) Support for the formulation of local production groups and networks, including the marketing and pricing of products;

(e) The Barangay Chairman of Barangay Tortugas;

SEC. 4. Definition of Terms. - As used in this Act:

(a) More than three (3) consecutive unexcused absences from regular meetings of the Council;

(c) Provision of technical and financial assistance to the communities within the site;

A member of the Council may be removed for any of the following grounds:

(b) Foreshore Land

and

Natural

(l) The Chairman of the City Fisheries and Aquatic Resources Management Council of the City of Balanga; (m) One (l) representative from an academic institution, preferably from a university or college in the Province of Bataan, with proven track record in or related to wetlands and/ or waterbird management;

(n) One (1 ) representative from the private sector, preferably a resident of the Province of Bataan, who is distinguished in a profession or field of interest relevant to wetlands and/or waterbird management; and (o) One (1) representative from either NGO or people's organization (PO), duly accredited both by the DENR and the provincial government of Bataan. The NGO or PO represented should have been in existence for at least five (5) years with track record in or related to wetlands and/or waterbird management.

The ex officio members of the Council by virtue of their elective or appointive government positions as specified in the immediately preceding subparagraphs (a), (b), (c), (d), (e), (f), (g), (h), (i), (j), k), and (l) shall serve for the duration of their r espective terms of office in their respective elective or a ppointive government positions.

The members of the Council specified under subparagraphs (m), (n), and (o) of this Section shall be elected by the ex officio members of the Council in a transparent and fair selection process. They shall each serve a term of three (3) year s and may be reappointed for another term.

to the point of beginning containing an area of one hundred eighty-seven thousand five hundred (187,500) square meters, more or less.

The members of the Council shall serve without compensation, except for the actual and necessary travelling and subsistence expenses incurred in the performance of their duties, either in their attendance in meetings of the Council or in connection with other official business authorized through a resolution of the Council, subject to existing rules and regulations. Each member shall have the full capacity and accountability for decisions binding to the member's sector.

The metes and bounds of the BWNP shall be indicated on maps and/or nautical charts. Any modification of the coverage of this Act due to such factors as changing ecological situation, new scientific or archaeological fmdings, or discovery of traditional boundaries not previously taken into account shall be made through an act of Congress, after consultation with the concerned government agencies.

The members of the Council duly elected or appointed prior to the effectivity of this Act shall continue their term until the expiration of their term or appointment. Thereafter, members of the Council shall be appointed in accordance with the provisions of this Act: Provided, That at least forty percent (40%) of the members of the Council shall be women pursuant to Republic Act No. 9710 or "The Magna Carta of Women".

SEC. 13. Implementing Rules and Regulations. - Within thirty (30) days from the effectivity of this Act, the DENR and the DOT, in consultation with the Council, other concerned government agencies, and stakeholders, shall promulgate the necessary rules and regulations for the proper and effective implementation of this Act. SEC. 14. Appropriations. -The Secretaries of the DENR, DOT, and DPWH and the Chief Operating Officer of the TIEZA shall include in their subsidy programs, support for the capital outlay re quirements of the BWNP for the preliminary implementation of this Act and enhancement of the facilities of the ecotourism zone which shall be taken from the budget of their respective agencies for the current fiscal year.

The budgetary allocations for the succeeding years shall be included in the General Appropriations Act, subject to government audit.

SEC. 15. Separability Clause. - If, for any reason, any provision of this Act is declared unconstitutional or invalid, other provisions hereof which a re not affected thereby shall continue to be in full force and effect.

SEC. 16. Repealing Clause. - All laws, decrees, executive orders, proclamations and administrative regulations, or parts thereof inconsistent herewith are hereby repealed or modified accordingly.

SEC. 17. Effectivity. - This Act shall take effect fifteen (15) days after its publication in at least two (2) national newspapers of general circulation or in the Official Gazette.

Approved,

GLORIA MACAPAGAL-ARROYO

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

This Act was passed by the Senate of the Philippines as

Senate Bill No. 2228 on May 27, 2019, and adopted by the House of Representatives as an amendment to House Bill No. 8441 on May 29, 2019.

DANTE ROBERTO P. MALING Acting Secretary General House of Representatives

MYRA MARIE D. VILLARICA Secretary of the Senate

Approved: AUG 08, 2019

RODRIGO ROA DUTERTE President of the Philippines O

PRRD 2016-011861

A14 Monday, August 19, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Who decides what’s right?

‘T

HE morning of June 27th was clear and sunny, with the fresh warmth of a full-summer day.” So begins The Lottery, a short story written in 1948 by American author Shirley Jackson.

Each year the citizens—now 300—of a rural farming community gather for an event that has been going on since the village was founded. Everyone is ready by 10 o’clock so that all can be home for lunch. As names are called, each head of a family household comes forward to draw a slip of paper from the box. All together they open their folded papers revealing which household has been selected.

Next, each member of that family selects an individual slip. This year, from the Hutchinson family, Tessie—wife and mother of three—picks a slip with a black circle written on it.

The morning ends with the townspeople forming a circle and stoning Tessie to death to insure a bountiful harvest as “Lottery in June, corn be heavy soon.”

The story has been analyzed as a scathing indictment against “mob mentality” and blindly following a ritual, custom or tradition. That may be true, but on another level it also shows the standards of a community are set by that community. In the story, there is talk “that over in the north village they’re talking of giving up the lottery. Some places have already quit lotteries, Mrs. Adams said.”

In the Philippines, we are discussing issues like divorce and same-sex marriage that form part of a broader discussion on “community standards.” There’s the argument that “if you don’t approve of divorce—or same-sex marriage— then don’t get one.” The logical extension could easily be, “if you don’t approve of pedophilia, then don’t have sex with a child” or, “if you don’t approve of euthanasia, then don’t have an assisted-suicide.”

In 13 countries, being gay or bisexual is punishable by death.

Alan Turing is considered the father of theoretical computer science and artificial intelligence. Yet, in 1952, Turing was charged and convicted of “gross indecency” as homosexual acts were criminal offenses at that time in the United Kingdom.

Attitudes can change greatly over time and place. The more important question, though, is who decides what are the acceptable community standards of behavior and practice? Should the decision be left to the majority of the public, like two wolves and a lamb voting on what to eat for dinner?

These questions are now being framed as a “rights” issue.

In the 13 “death penalty for homosexual acts” where Islam is the official or state religion, should the government protect the rights of the religious or the rights of the individual?

Does the lamb have a “right” not to be eaten? Do the wolves have a “right” not to starve to death? And who gets to decide?

Are you ready to be a hero?

Atty. Jose Ferdinand M. Rojas II

RISING SUN

A

T this time, we are remembering the late Sen. Benigno “Ninoy” Aquino Jr.’s death and martyrdom. He was killed 36 years ago on August 21, 1983, upon his return to the Philippines. Since that time, he has given us as legacy the leadership of former President Cory Aquino, his wife, and former President Benigno “Noynoy” Aquino III, his son. But as far as legacy is concerned, he has offered us so much more—his courage and eloquence, his principles and sacrifices, his life and its lessons.

As I was thinking of what to write about to commemorate the life and martyrdom of our hero Ninoy, I decided to pick a few of the most meaningful quotes (for our time and situation) attributed to him and to

Dengue disease awareness Atty. Lorna Patajo-Kapunan

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add my short opinion next to each one. He left us with great ideas and inspiring words. I hope that this gets us thinking and inspires us to act in such a way that what we do reflects our love for the Philippines.

LEGALLY SPEAKING

I

N furtherance of the “right to [correct] information,” I have committed to publish this Joint Statement by the Philippine Pediatric Society and the Pediatric Infectious Disease Society of the Philippines (PIDSP) on Dengue Disease Awareness.

“The Philippines is continuously facing an alarming rise in dengue cases at the present time. Reported through the Philippines Integrated Disease Surveillance and Response system, there have been 106,630 dengue cases in the country from January 1 to June 29, 2019, reflecting an 85-percent increase in cases compared to 2018. There were 456 reported deaths for this period, giving a case fatality rate of 0.43 percent, with the most number of both cases and deaths seen in the five to nine-year age group. While this CFR is lower compared to the rate in the previous year [0.55 percent], it is still higher than the average 0.22 percent CFR in the Western Pacific region. The regions that have been most affected are 2, 4A, 5, 6, 7, 8, 9, 12, Bangsamoro Autonomous Region in Muslim Mindanao and National Capital Region, while the provinces that have already declared an outbreak and sought access to calamity funds include Iloilo, Capiz, Aklan, Antique and Guimaras in the Western Visayas. It has recently been reported that a number of provinces are already seeing dengue way beyond an

epidemic threshold.

Dengue is a viral illness transmitted to humans through the bite of an infected mosquito, Aedes Aegypti.

Most infections are asymptomatic, but is often suspected when high fever associated with two or more of the following symptoms are present: headache, pain behind the eyes, muscle and joint pains, marked body weakness, significant loss of appetite, nausea, vomiting, diarrhea, or a rash, which is usually seen on the lower limbs, arms and trunk. Physicians should be vigilant in recognizing the following ‘warning signs’: persistent vomiting, abdominal pain or tenderness often on the right upper quadrant, clinical fluid accumulation [abdominal enlargement, difficulty of breathing or decreased breath sounds on auscultation over the right lung field] mucosal bleeding, such as profuse gum or nose bleeding, lethargy, restlessness, liver enlargement and an increase in hematocrit with or without a decreasing platelet count. A potentially lethal complication of the disease known as severe dengue occasionally develops. This is characterized by severe plasma

“What can one man do if the Filipino people love their slavery, if the Filipino people have lost their voice and would not say no to a tyrant, what can one man do? I have no army, I have no following, I have no money, and I only have my indomitable spirit.” It comes as a bit of shock to realize that almost 40 years later, we have changed very little as a people. Ninoy was already talking about the Filipinos losing their voice and loving their slavery. This quote should open our eyes and hearts.

“I will never be able to forgive myself if I will have to live with the knowledge that I could have done something and I did not do anything.” This is a thought that could very well guide us every day, in our every action, in our every word. It’s very important to examine our lives once in a while to see if there are things that we can do but are not doing, for one reason or another.

“My friends do not forget that your

readiness to suffer will light the torch of freedom which can never be put out.

Do not forget that we who are now in the middle of our years must inspire the youth when they are almost in the brink of despair. Do not forget that the purpose of life is precisely reexamining our being, not merely a floating flotsam in the time, in the floods of time. Do not forget, as Longfellow said, that we should never be like driven cattle, but be a hero in the strife.” Ninoy believed that the struggle for change comes with a hefty price to pay. Suffering, making sacrifices, and despair are all part of the journey toward sovereignty and peace.

Today it is easy to fall onto the bed of convenience and comfort, but this is not the way to fight for freedom. I think he is asking every Filipino the same question all over again: Are you ready to suffer for freedom? Are you ready to inspire the youth? Are you ready to be a hero?

A coordinated effort from the different sectors is needed to battle this pervading disease.

The Philippine Pediatric Society and the Pediatric Infectious Disease Society of the Philippines are in support of making the vaccine available to individuals who will benefit best from this.

Destroy: eliminate mosquito larvae breeding sites in your surroundings and cover containers with collection of stagnant water; [2] Self-Protection Measures: use mosquito repellent and cover yourself up to avoid mosquito bites; [3] Seek Early Consultation: consult a medical specialist at once for fever and rash of two days duration; and [4] Say No to Indiscriminate Fogging: fogging only during outbreaks.

Another integral component in the global strategy for dengue prevention and control is vaccination.

In April 2019, the World Health Organization has included the dengue vaccine in the Model List of Essential Medicines for Children recommended for use in certain high-risk populations. Based on currently available data, the vaccine has been proven safe and efficacious, most especially to those who had prior dengue infection. Unfortunately, this vaccine is no longer available in the country.

Some activities that clinicians can engage in to augment the health department’s efforts in disease control include: 1. Early recognition and timely management of dengue cases n Watch out for warning signs in suspected patients. n Close monitoring of patients’ clinical condition [i.e., vital signs, urine output, peripheral pulses, level of consciousness] especially during the critical phase of the illness. n Judicious administration of IV fluids. Know when to decrease or stop IV hydration. n Refer to a higher level of care [preferably in centers with intensive care units] when necessary.

leakage leading to shock and fluid accumulation, severe bleeding and organ impairment.

While there is no specific antiviral treatment, early recognition and prompt access to medical care lower mortality rate. Among hospitalized patients, judicious use of intravenous fluid should be observed as overhydration places the patient at risk for pulmonary edema and other grave complications. Local guidelines [the PPS “Revised Guidelines on Fluid Management of Dengue and Dengue Hemorrhagic Fever 2012” and PIDSP’s “Clinical Practice Guidelines on Dengue for Children”] on fluid management of children with dengue are available and can be accessed through https:// www.scribd.com/doc/316006977/ PPS-Revised-Dengue-GuidelinesFluid-Management-Oct-2012; http:// www.pidsphil.org/home/wp-content/ uploads/2017/06/2017_Dengue_ CPG_Final.pdf An effectively implemented and sustained vector control measure is one key strategy for dengue prevention. As the number of dengue cases in the country continues to escalate, the Department of Health constantly reminds the public to practice the ‘4S against Dengue’ that includes the following strategies: [1] Search and

See “Kapunan,” A15

Opinion BusinessMirror

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A triumph for working To trust or not to trust mothers and their families Siegfred Bueno Mison, Esq.

THE PATRIOT

Razzel Ann Vergara

DEBIT CREDIT Part One

W

OMEN’S rights advocates and workers’ groups celebrated the passing into law of the Expanded Maternity Leave Law (EMLL) that almost doubled the number of days for maternity leave. This is very good news for the Filipino families. It would greatly benefit mothers and their infants, and consequently ensure a future generation of healthy and productive citizens.

This legislative measure exceeds the standard of 14 weeks set by International Labor Organization (ILO). It was signed into law by President Duterte on February 20, 2019, known as Republic Act (RA) 11210 or the “105-Day Expanded Maternity Leave Law,” which aims to protect and promote the rights and welfare of working women consistent with local and international legal instruments. Recognizing women’s maternal functions and their significant contribution to the labor force, the law expanded the maternity period of women workers to provide them with ample transition time to regain health and overall wellness, and nurture her child prior to assuming work responsibilities.

Previously, female workers could take maternity leave of 60 days for normal delivery and 78 days for caesarian operations. Under the new measure, the maternity leave period is expanded to one 105 days.

Qualified solo parents as defined in RA 8972 or the “Solo Parents’ Welfare Act of 2000” are granted an additional 15 days maternity leave with full pay. For live childbirth, the qualified female worker has an option to extend her maternity leave for an additional 30 days without pay, provided that the employer is notified in writing at least 45 days before the end of the maternity leave. Subsequent notice is allowed in case of medical emergency. The maternity leave can be availed of even before or after the actual period of delivery in a continuous and uninterrupted manner, provided

that the postnatal leave shall not be less than 60 days.

Another feature of this law is that the female worker in case of childbirth may, at her option, allocate up to seven days to the child’s father, whether or not married. This is in addition to the seven days paid paternity leave granted under RA 8187 or the “Paternity Act of 1996.” In case of death, absence or incapacity of the father, the mother can choose to allocate the same to an alternate caregiver who may be a relative within the fourth civil degree of consanguinity or her current partner (regardless of gender identity), so long as they share the same household. And in case of death or permanent incapacitation of the female worker qualified, the balance of her maternity leave benefits shall accrue to the father of the child or the alternate caregiver.

Maternity leave shall be granted in every instance of pregnancy, miscarriage or emergency termination of pregnancy unlike before, up to four instances only. Female workers who suffered miscarriage or who have undergone emergency termination are allowed to have 60 days of maternity leave.

To be continued Razzel Ann Vergara is a Certified Public Accountant and currently working as internal auditor at the Provincial Government of Camarines Norte.

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.

Bond traders are hostage to a global gloom

By Katherine Greifeld Bloomberg Opinion

T

REASURIES investors are casting a wary eye abroad after a barrage of sloppy overseas data roiled the world’s biggest bond market.

Fears of a worldwide slowdown erupted last week following weak German and Chinese economic reports, sending benchmark 10-year Treasury yields briefly below the two-year rate for the first time since 2007. The yield on 30-year Treasuries plunged through 2 percent to hit a record low, despite solid United States inflation and hotter-than-expected retail sales.

Global forces are likely to remain in the driver’s seat for the $16-trillion Treasuries market in a week largely devoid of meaningful US data, according to Principal Global Investors’ Seema Shah. A lot of “panic” evident in the US bond market is being imported from China and Europe’s darkening economic picture, she said. For that reason, Shah will be monitoring upcoming euro-area inflation and manufacturing reports for a clue on where yields are heading.

“The global data is going to struggle to see an upward trend, so that’s going to continue to put downward pressure on yields, especially on that long-end,” said Shah, the firm’s chief strategist.

“Until you get stronger data from Europe or China, those global concerns are here to stay.”

Rates on 30-year bonds ended the week 22 basis points lower at 2.03 percent, after hitting an all-time low of 1.91 percent. Reports that Germany is considering fiscal stimulus

sent rates on long-bonds higher by six basis points on Friday, despite US consumer sentiment dropping to a seven-month low. The yield ended near its highs of the day after the US Treasury Department said it’s contemplating selling 50- and 100-year debt, going well beyond the current three-decade maximum.

The 10-year Treasury yield ended Friday at 1.55 percent, a day after breaking below 1.5 percent for the first time since 2016. While it’s become “difficult not to expect” that the benchmark rate will breach its record low of 1.31 percent, this will depend on global growth and trade developments, according to BMO Capital Markets.

“The chances of seeing new record lows in 10-years is largely dependent on the performance of risk assets, which are in turn beholden to the prospects for an easing of the global headwinds,” BMO strategists led by Ian Lyngen wrote in a note Friday.

“These issues will not be resolved anytime soon.”

But there is one can’t-miss event in the US in the week ahead: the Federal Reserve’s annual symposium in Jackson Hole, Wyoming. Fed Chairman Jerome Powell will take the stage on Friday to deliver a speech titled “Challenges for Monetary Policy.”

Bond traders will listen for reassurance from Powell that the Fed will support the economy and for any comments from him on recent market turmoil, Shah said. The massive rally in longer-dated debt suggests that markets are skeptical that monetary easing will be sufficient to boost growth and inflation, in her view.

T

RUST rating of countries affects investor confidence and, ultimately, its prosperity, as seen in Transparency International’s Corruption Perception Index—the trustworthy a country is perceived, the more prosperous it is. In business, trust greatly affects the profitability, brand reputation, employee productivity and overall teamwork in any company. Without trust, employees merely coordinate and hardly cooperate. When trust prevails in any relationship, whether in a family, company, or country, much can be done with greater ease and, presumably, at a lower cost. Morale is higher, energy is more positive, and innovation is promoted in the workplace whenever leaders trust their subordinates and vice versa.

There are times, however, that too much trust can have dire consequences, as in the case of the top executives of Enron and WorldCom a few years ago. The collapse of these entities led the US Congress to pass the Sarbanes-Oxley Act, which required companies to submit significant disclosure measures to prevent fraudulent activities. On the other side of the trust spectrum, when there is too little trust, leaders end up burdened with so much work due to micromanagement and failure to delegate or empower their subordinates. In the words of Presbyterian minister and columnist Frank Crane, “you may be deceived if you trust too much, but you will live in torment if you don’t trust enough.”

I have seen blue chip companies where a contract for less than $10,000 had to be signed off by at least 10 executives in a span of 30 days. I know of one top executive who, due to distrust, ended up reproducing and redoing the financial statements as he could not trust the report from the chief financial

officer. He demanded raw data, as well as the formula or methods in getting those numbers and ended up sidetracked in getting more important things done. While internal controls must be in place to prevent and detect fraud and anomalies, these consequential events of distrust drain company resources in terms of executive time and talent.

In their book, Smart Trust, authors Stephen Covey and Greg Link came up with a proposition that companies must find a balance between distrust and blind trust. Calling it “smart trust,” leaders need to assess three variables—opportunity, risk and credibility—before trusting people.

Of the three, credibility, I think, is the most important as leaders will have to inevitably process all kinds of information and make decisions based on them. Gossips can be disguised as truth. A lie repeated a thousand times could become the truth.

In the Bible, Proverbs 28:26 tells us, “Those who trust their own insight are foolish, but anyone who walks

Monday, August 19, 2019 A15

Trust in relationships can be taken for granted. Warren Buffett put the matter in this wise: “Trust is like the air we breathe, when it’s present, nobody really notices; when it’s absent, everybody notices.” In this day and age of interconnection and interdependence, when we create and amplify an atmosphere of trust in our spheres of influence, good things happen. in wisdom is safe.” Wise leaders rely on good counsels, for it is written, “Plans fail for lack of counsel, but with many advisers they succeed.”

(Proverbs 15:22). Wisdom can be elusive but whenever a leader is humble, patient, and trustworthy, he can learn and practice what Covey and Link consider as “smart trust” in the workplace.

In the hiring process, for instance, companies rely on their vetting procedures to know the character and the competence of their recruits. I know of one reputable retail company whose recruitment of top executives required a lengthy verification process, which include a series of background checks in the community and previous work experiences, a validation of credentials from character references, even from those not included in their résumé, and even a military-like verification of the sources of their information. Since information obtained should not be trusted blindly, military intelligence analysts assign ratings from A-1 to F-6 to assess the reliability of both the source (informants, civilian populace, enemy from interrogation) and of the information itself (fact, direct or indirect information, hearsay).

In effect, this retail company puts a lot of premium in checking the credibility of the information before

trusting people. “Smart trust”, the civilian counterpart of military intelligence, is more of a judgment call to balance suspicion and gullibility.

Extending trust is an act of faith —sometimes a leap of faith, Covey said. I remember a bemedalled and disciplined Army colonel, SMM, who was given the task of negotiating the release of hostages captured by secessionist rebels during the height of the MNLF movement in Mindanao in the 1970s. There were many contingencies in taking the job, as there were many strategies to get the job done. Some said, an under the radar payoff is the best way to secure the safety of the hostages. Others said, a surgical strike is better given the propensity of the rebels to renege on a promise, as they do not keep their word. Initially hesitant to take on the job, SMM merely required one condition from his superior before accepting the job—trust him on the details. In a few days, hostages were released after SMM employed a unique approach where he caused the abduction of the relatives of the hostage takers as part of an exchange deal. This out-of-the-box strategy, arguably against military doctrine, was a product of innovation brought about by trust. Had SMM operated in a low trust environment, he would not have tried to innovate an effective solution to the problem for fear of reprisal.

Trust in relationships can be taken for granted. Warren Buffett put the matter in this wise: “Trust is like the air we breathe, when it’s present, nobody really notices; when it’s absent, everybody notices.”

In this day and age of interconnection and interdependence, when we create and amplify an atmosphere of trust in our spheres of influence, good things happen.

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

Saudi Arabia’s oil price promise just doesn’t add up

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By Julian Lee | Bloomberg Opinion

AUDI Arabia isn’t as willing to do whatever it takes to support oil prices as it would have us believe. That’s the only conclusion one can draw from what we’ve learnt since a government official said the kingdom wouldn’t tolerate a continued price slide.

After crude fell to a seven-month low earlier this month, Saudi Arabia got on the phone to other members of the Opec+ group of nations to discuss possible policy responses. It doesn’t appear to have got very far.

Russia—the key non-Opec member of the extended producer group— made all the right noises. An e-mailed statement from its energy ministry said it was “utterly important to act responsibly” by giving the market only as much oil as was needed. You might think that would mean Russia sticking to the production target it agreed with Opec in December.

You’d be wrong.

The Russians pumped 11.32 million barrels a day in the first half of August, according to Interfax. That’s up by 180,000 barrels from July and above its pledged daily level of 11.19 million barrels.

While the country did produce less than required for three months in a row through to July, that was mainly the result of the Druzhba pipeline contamination crisis.

Indeed, Moscow may be better able to weather lower prices than

Kapunan. . .

continued from A14

n Coordinate with specialty societies who can provide training of health workers in the recognition and management of cases.

2. Engage in hospital and community activities that promote the education of patients and caregivers on dengue prevention. n Proper waste disposal and eliminating possible breeding habitats for mosquitoes.

Riyadh. US President Donald J. Trump’s sanctions on exports from Iran and Venezuela have boosted Russia’s oil income by about $1 billion dollars since November. Russian Urals grade is a pretty good substitute for Iranian crude for European refiners and its value has risen relative to that of the benchmark Brent.

So what about Saudi Arabia’s Opec partners? The biggest of those, Iraq, doesn’t seem to be helping much either. Tanker-tracking data compiled

by Bloomberg suggest that its crude exports in the first half of August were the highest in three months.

Flows out of West Africa also appear to have been robust in August.

Will the kingdom go it alone?

Perhaps not.

Having already cut more than twice as much oil output as it promised in December, Riyadh has signaled its unwillingness to keep shouldering the burden alone. Its Energy Minister Khalid al-Falih insisted at Opec’s last meeting in July that the Saudis had already cut “deep enough.”

They did manage to generate a n Regular cleaning, emptying and covering of water containers. n Practice personal protective measures: screening of doors and windows, use of mosquito nets, wearing appropriate clothing (e.g., jogging pants, long-sleeved shirts), use of insect repellents. n Active surveillance and reporting of cases.

Lastly, for those children who were previously given partial (1/2) or complete (3) doses of the dengue vaccine, the same precautions are advised, since just like any other

Will the kingdom go it alone?

Perhaps not. Having already cut more than twice as much oil output as it promised in December, Riyadh has signaled its unwillingness to keep shouldering the burden alone.

Its energy minister Khalid al-Falih insisted at Opec’s last meeting in July that the Saudis had already cut “deep enough.”

brief bump in prices by that suggestion of doing whatever it takes. But the market recovery is already running out of steam. And the promise was never quite as meaningful as some thought.

As part of the pledge, Saudi officials said the kingdom would keep oil exports below 7 million barrels a day in September and supply customers with 700,000 barrels a day less than they’d asked for. That looks like a big number, but it rather depends on what potential buyers asked for.

Dig a bit deeper and the commitment starts to look less bullish.

Saudi Arabia didn’t actually say it would cut exports by 700,000 barrels a day next month. Instead, the officials pointed to the 10.3 million barrels a day that they could theoretically produce in September to meet demand, and that the reduction would come from that figure. (It’s worth noting that this 10.3 million

figure is more than the Saudis have produced in any other month this year, according to data from the kingdom). So the upshot is that Saudi Arabia’s actual production next month may be about 9.6 million barrels a day. It says it produced 9.58 million last month, so this doesn’t look like a cut at all.

And then there’s the issue of where the cuts will come from. Saudi Aramco, the national oil company, has allocated full volumes of contractual crude supply for September sales to at least six buyers in Asia. So the US and Europe will have to bear the brunt of reductions. Supplies to US buyers will be about 300,000 barrels a day less than they’d asked for, according to the officials, while cuts to European buyers will need to be bigger still to hit the 700,000 target.

That’s going to be a stretch. The kingdom has only shipped about 530,00 barrels a day to North America so far this year, while deliveries to Europe have averaged just 210,000 barrels, according to Bloomberg tanker tracking. So to be in a position to make the sort of cuts being talked about, buyers must have been asking for a lot more oil than they’ve bought from Saudi Arabia in the recent past.

The numbers just don’t stack up.

If you’re waiting for a big output cut from Saudi Arabia to rescue oil prices—don’t.

recommended vaccine, it may not provide 100 percent efficacy or protection.

A coordinated effort from the different sectors is needed to battle this pervading disease. The Philippine Pediatric Society and the PIDSP are in support of making the vaccine available to individuals who will benefit best from this. Likewise, the society through its module on pediatric dengue diagnosis and management can help increase disease awareness among physicians.

Visit www.pidsphil.org for more

infor mat ion.” (End of Joint Statement).

While there is no “silver bullet” to address the ongoing dengue outbreak, what is important is that the public is given the right information on this mosquito-borne disease and will be able to make an informed decision on whether or not to avail of the dengvaxia vaccine, if and when its suspension is revoked.

Leave the politics on this issue to politicians, corrupt officials and media limelight-seekers. And pray that the “Aedes aegypti” silences them all.

2nd Front Page BusinessMirror

A16 Monday, August 19, 2019

www.businessmirror.com.ph

OFWs are not like Pogo workers–Lorenzana

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By Rene Acosta

@reneacostaBM

EFENSE Secretary Delfin Lorenzana is bristling over the comparison being made by Beijing’s ambassador to Manila between overseas Filipino workers (OFWs) and the Chinese workers in offshore gaming operations that are coincidentally near sensitive Philippine security facilities.

Over the weekend, Lorenzana hit back at the statement of Chinese Ambassador Zhao Jianhua that Filipinos working in China could also be accused of spying, a remark the envoy conveyed through President i a l Spokesma n a nd Chief Presidential Legal Counsel Salvador Panelo.

There could be no comparison between Filipinos in Beijing and Chinese who came into the Philippines as tourists, but ended up working for Philippine Offshore Gaming Operators, or Pogo, he said.

“That’s the most preposterous statement I heard in a long while,” said Lorenzana.

“Pogo workers here are not comparable to OFWs in China. Pogo workers came over for a different purpose, e.g., likely just tourism, but eventually got visas to work in an activity at the Pogo centers operating gambling operations which is prohibited in China,” he added.

Earlier, Lorenzana expressed concern over the hosting of Pogo in hubs near military camps, especially in Metro Manila, saying they

may have effects on security, given that some officials have already shared concerns that they could be used for spying, along with their workers.

Zhao responded through a message he sent to Panelo: “Ambassador Zhao sent me a text. He said what if we also think that your overseas workers are also spying on us. What can you say about that?”

However, Lorenzana said that “knowing that Chinese companies are mandated by the Chinese government to assist in intel

collection for their government, it is not far-fetched that individuals, likewise, could be compelled to do so.”

He said Filipinos go to China for specific work. “They are more like Chinese nationals working in construction projects here in the Philippines, as mutually agreed upon by both countries.” He noted that “there are no Pogo-like centers in China that can be operated purely

by Filipinos near Chinese military camps.”

See “Lorenzana,” A2

House to hold marathon hearings Jobless Pinoys DANCERS IN G-STRING on 2020 budget starting this week may now seek BAG P1-M TOP PRIZE SSS cash aid

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O ensure the timely passage of the proposed P4.1trillion General Appropriations Act, the House of Representatives will conduct marathon hearings from Monday to Friday starting on August 22.

House Committee on Appropriations Chairman Isidro Ungab said the hearings will be done after the formal submission of the 2020 National Expenditure Program to the lower chamber on Tuesday.

The proposed national budget for 2020 is 9.1 percent higher, or P343 billion more than the proposed P3.757-trillion national

budget for 2019. The P4.1-trillion cash-based budget for 2020 is equivalent to 19.4 percent of the country’s GDP, which amounts to P21.17 trillion.

He said the appropriations committee hopes to finish the budget hearings by second week of September and start plenary deliberations, as soon as the panel approves its committee report.

Ungab said the target date for passage of the General Appropriations Bill is on October 4, before the congressional recess.

Per the committee’s schedule, the budget hearings will kick off

SOUTHWEST MONSOON AFFECTING WESTERN SECTIONS OF NORTHERN AND CENTRAL LUZON as of 4:00 am - August 18, 2019

on Thursday, August 22, with a briefing of the Development Budget Coordination Committee, the interagency body that determines the overall economic targets, expenditure levels and budget of the government.

On Friday, August 23, the appropriations committee will review the tbudget proposals of the Philippine Charity Sweepstakes Office and the Philippine Amusement and Gaming Corp..

Congress is targeting to submit the 2020 national budget to President Duterte on December 20.

Jovee Marie N. dela Cruz

By Bianca Cuaresma @BcuaresmaBM

IN KADAYAWAN FEST

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ASH grants are now available for Social Security System (SSS) members who were involuntarily separated from employment, the state-run pension fund announced over the weekend.

Member-applicants may now be granted a cash benefit of half of their average monthly salary credit (AMSC) for a maximum of two months after their involuntary separation from employment, the SSS said in a statement.

The new program is one of the landmark provisions of Republic Act 11199 or the Social Security Act of 2018 and is the seventh benefit program of the state-run SSS. “For example, a member who’s earning P10,000 per month was involuntarily separated from employment. He/she may be granted a cash assistance for a maximum period of two months. The cash assistance is equivalent to one half of his AMSC, which in this case is P5,000 per month of unemployment benefit or a total of P10,000 for the two-month period of his/her unemployment,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

To qualify for the benefit program, SSS said the covered employee must not be more than 60 years old at the time of involuntary separation. Underground and surface mineworker, and racehorse jockey members must not be more than 50 and 55 years old, respectively.

The SSS member also must have paid at least 36 monthly contributions, 12 months of which should have been made in the 18-month period immediately preceding the month of involuntary separation.

Also, members must have no settled unemployment benefit within the last three years prior to the date of involuntary separation.

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—The G-string clad male dancers and female dancers who were almost perfectly made-up to look authentic tribals from Bislig, Surigao del Sur, bagged the first P1-million top prize in the tribal street dance of the Kadayawan festival here.

The top prize and best choreographer award in the open category was easily grabbed by the Sindac Anib Performing Ensemble of Bislig, Surigao del Sur, from a field of seven contingents from Lupon and Mati City, both of Davao Oriental, Maco of Compostela Valley, Santo Niño of South Cotabato, and the provinces of Maguindanao and Sarangani.

This was the biggest pot put up by the city government, which placed the Kadayawan fruit harvest festival in the big league of festivals in the Philippines.

Although the Sindac Anib Performing Ensemble elicited some comments on their daring attire,

their performance drew rave reactions from the audience at the covered Kadayawan Square, the finale performance venue of the Indak-Indak sa Kadayawan 2019.

The Bislig group, making only the second appearance at the festival, also swept the other awards in best music and best artistic design.

The Catalunan Pequeño National High School Kawangis Performing Arts Guild won the Davao City school-based category. It also got the best music category.

The Bislig contingent won another award in the Championship Circle, landing third in the overall ranking, and received P500,000.

The previous top winner in the previous street dance, the Mabini National High School Special Program in the Arts, won second with P600,000 prize. It was also second in the Davao City school-based category.

The Santa Ana National High School Performing Arts Guild garnered the grand prize in the Champions Circle with a P1.2-million prize.

DOLE moving to curb alien employment for certain Pogo positions

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HE government is now considering barring foreign nationals (FN) from applying in some positions in the Philippine Offshore Gaming Operator (Pogo) industry.

The Department of Labor and Employment (DOLE) said it is now assessing which positions in Pogo can be done exclusively by Filipinos, and which need to be filled by FNs. “We are still identifying these positions because is just a new industry,” Labor Undersecretary Ana C. Dione told reporters in an ambush interview during a media forum in Manila.

For Filipinos

SHE noted that since most of the Pogo in the country cater to Chinese nationals, they hire a lot of Mandarin-speaking Chinese nationals to serve as customer relations officers.

This is why DOLE earlier noted that 87.9 percent of the identified

63,855 FNs working in 165 licensed Pogo firms as of March are Chinese.

Other nationals such as Vietnamese, Indonesian, Taiwanese, Malaysian and Thai comprise the remaining 12.1 percent or 7,675 workers.

Dione, however, said the computer engineer positions for the Pogo could be filled by Filipino workers.

Role of the public

DIONE also stressed that even the Mandarin-speaking customer relations officers position, currently being dominated by FNs, can eventually go to Filipinos workers.

“If any skilled Filipino could do it, then we can cancel the work permits of the foreigners, who are doing it,” Dione said.

“I would like to reiterate, the work permits are not forever,” she added. She pointed out they are also open to getting even anonymous reports from the public on illegal Pogo operations.

“We already get e-mail, some-

times similar reports and we send our people there to investigate,” Dione said.

Illegal activities

THE labor official confirmed they also discovered several Pogo outfits illegally operating in the country.

“These are the ones which are not licensed by Pagcor [Philippine Amusement and Gaming Corp.],” Dione said.

She said they closely monitor the suspect firms as their employed FNs are mostly likely also working without work permits and are therefore vulnerable to labor abuse.

Data from the Bureau of Local Employment (BLE) showed that in Metro Manila alone, at least 8,370 FNs are working in Pogo companies without work permits.

Dione said the unlicensed companies face closure from Pagcor, while the workers may be subjected to deportation procedures.

Samuel Medenilla

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, August 19, 2019

B1

New group takes over operations and maintenance of Clark airport

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By Ashley Manabat | Correspondent

LARK FREEPORT—A new consortium has formally taken over the operations and maintenance (O&M) of the Clark International Airport (CRK) here with its old terminal building of 4 million annual passenger capacity and the pending completion of its new terminal building with 8 million annual passenger capacity.

Leading the turnover of CRK’s O&M to the Luzon International Premiere Airport Development (Lipad) Corp. on Friday was the Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA).

The BCDA said in a statement that the CRK “is set for greater heights” following the formal turnover of its O&M to the Lipad Corp.

Transportation Secretary Arthur P. Tugade, and BCDA President and CEO Vivencio Dizon led the turnover ceremony to Lipad Corp. President and CEO Bi Yong Chungunco.

The new terminal, the first hybrid

PPP project implemented under the Duterte administration, is 74.58-percent complete as of July and will be operational by June 2020.

By then, airport capacity would have tripled from the current 4.2 million.

Lipad is the consortium of Filinvest Development Corp., JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc., and Changi Airports Philippines Pte. Ltd. Aside from handling the O&M of the new terminal and its existing facilities, the consortium is also set to develop the commercial assets, operate and maintain project facili-

ties, and fit-out the new terminal.

The concession period for the whole project will last for 25 years.

Tugade expressed confidence that Lipad Corp. will fulfill its plans for the CRK. “I saw the improvements in the terminal and CRK has been flying so high in terms of increasing ridership and airline operations. To Lipad, paliparin mo ang paliparan na ito [let this airport soar to great heights].

Make it go and make it grow, so it becomes the envy of airports within this country and all over the world,” Tugade said.

Dizon commended Lipad for its commitment in transforming CRK into one of the region’s premier gateways alongside the development of Clark.

“The Duterte administration is fully committed in making Clark the next premier economic hub in Asia and critical to this is the development of the Clark International Airport.

We thank Lipad, a powerhouse consortium for taking on the challenge of making CRK a major gateway in the country as we envision it to be one of the most modern airports in the world,” Dizon said.

For the part of Lipad, Chungunco vowed to develop the airport’s existing operations to give the public a much-improved travel experience in the next few years.

“We are truly excited today and for the many years to come for the role

that Lipad Corp. will play in the development of the Clark International Airport as the region’s premier hub,” she said.

“We are equally excited to work on the new passenger terminal building and revolutionize the travel experience of passengers, and visitors through fast, efficient, hassle-free service, and a new commercial experience,” she added.

“Most of all, we look forward to close collaboration with the DOTr and BCDA for the next 25 years,” Chungunco said.

During the ceremony, Chungunco unveiled the new logo for the CRK. She also revealed that four new international airlines will start flying from CRK in the next few months.

Chungunco also announced that 179 former employees of the Clark International Airport Corp. have been absorbed by Lipad.

Once underutilized, the CRK is now one of the country’s busiest airports. It tallied a total of 2.1 million passengers during the first six months of the year from both international and domestic flights. The figure is a 63-percent increase from the same period last year and so far the highest midyear number of travelers in the airport’s 24-year history.

Currently, some 11,500 passengers fly via Clark daily, served by a total of 673 weekly flights, with 202 international and 471 domestic flights.

23 gencos pitch offers to supply Meralco power needs via CSP

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HE Manila Electric Co. (Meralco) has received a total of 23 offers from power generation companies that are interested to supply the utility firm’s power requirements via competitive selection process (CSP).

The utility firm is bidding out three power supply contracts with a total capacity of 2,900 megawatts. These are a five-year contract for a 500 MW mid-merit capacity, a 20-year contract for 1,200 MW greenfield and a 10-year contract for 1,200 MW brownfield capacity.

“Eleven submitted expressions of interest [EOI] for the CSP for the 1,200 MW baseload requirement, effective December 26, 2019, with an aggregated offered capacity of 2,830 MW,” said Meralco Utility Economics Head Lawrence Fernandez in an interview.

The 11 firms interested to participate in the CSP of 1,200 MW brownfield capacity are Phinma Energy, Energy Development Corp., Quezon

Power, Solar Philippines, Southwest Luzon Power, Therma Luzon, AP Renewables, Masinloc Power, San Miguel Energy, South Premiere Power and SMC Consolidated.

“Meanwhile, eight submitted EOI for the CSP for the 500 MW mid-merit requirement, also effective December 26, 2019, with an aggregate offered capacity of 1,200 MW,” added Fernandez.

These are Team Energy, First Gen Hydro Power, Phinma Energy, Solar Philippines, Therma Luzon, AP Renewables, South Premiere Power and SMC Consolidated. For the 1,200 MW greenfield capacity, Fernandez identified four interested bidders.

These are First Gen, Atimonan One, Panasia Enegy and Mariveles Power.

“Finally, four submitted EOIs for the CSP for 1,200 MW baseload, with commercial operations date of 2034,”said Fernandez.

Continued on B2

B2

Companies BusinessMirror

Monday, August 19, 2019

PSE STOCK QUOTATIONS

August 16, 2019

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

57.05 142 88.7 26.2 11.6 69.7 46.3 57.7 27.9 182.4 59.1 1.96 18.3 0.53 4.83 712 0.98 186.5 1750 1.11

58 142.7 89 26.25 11.7 70.35 46.8 58 28.1 184.3 59.8 2.09 18.58 0.59 4.9 800 0.99 189.7 1800 1.17

58 144 89.9 26.3 11.38 70 46.8 58.1 28.1 189.3 59.55 1.96 18.22 0.53 4.9 710 0.97 190 1800 1.11

58 146.5 90.9 26.5 11.7 71.4 46.8 58.1 28.1 190.1 60 2.09 18.58 0.53 5.04 710 0.99 190 1800 1.17

58 142 88.05 26.1 11.38 69.7 46.25 57.5 27.9 182.4 59 1.95 18.22 0.52 4.85 710 0.97 189.8 1800 1.11

58 142 89 26.2 11.7 69.7 46.3 58 28 182.4 59.8 2.09 18.58 0.52 4.9 710 0.99 189.8 1800 1.17

10 1534850 2106160 163300 96000 3241880 893100 6910 48900 300030 64690 10000 700 90000 52000 100 277000 20 5 3000

580 219029238 187905914.5 4271625 1109192 227409112 41382140 400363 1368410 55574835 3820337 19870 12862 46860 255440 71000 269560 3798 9000 3390

INDUSTRIAL

28270410 -22399749 -1880920 -160580 -61683243.5 -17112750 168520 -3233558 -743662.5 -

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

1.31 35.5 0.24 24.95 82.3 353 22.95 5.14 4.6 2.86 10.72 36.05 6.98 13.92 90.35 15.54 13.94 6.03 9.13 7.38 98.65 0.68 53.95 237 8.36 14 0.183 1.91 12.52 1.78 5.05 162 1.16 2.45 79.05 97 3.2 5.25 14.8 9.18 14 18.48 9 1.02 1.13 105.5 2.02 3.3 4.9 35.8 1.91 8.2 1.47 5.4 1.07 11.98

1.32 35.6 0.245 25.25 83.2 354.2 23 5.17 4.7 2.87 10.94 36.1 6.99 14.08 100 16.4 14.28 6.05 9.14 7.39 99 0.69 54.3 238 8.8 14.06 0.195 1.92 12.54 1.79 5.1 163 1.17 2.48 81 97.2 3.22 5.65 14.84 9.23 14.02 18.5 9.1 1.03 1.14 115.5 2.07 3.39 5.02 37.95 1.94 8.37 1.5 5.49 1.1 12

1.31 35 0.245 25.75 81 360.6 23.4 5.03 4.75 2.96 10.42 35.95 6.95 14.18 99.6 16.4 13.62 6.05 8.8 7.39 97.4 0.68 52.9 234.6 8.36 13.6 0.183 1.82 12.5 1.78 5.1 164 1.14 2.45 91 144.9 3.1 5.5 14.66 9.2 13.9 18.28 9.1 1.06 1.08 110 2.02 3.3 5.34 36 1.9 8.14 1.48 5.49 1.14 11.4

1.32 35.6 0.245 26 83.2 360.6 23.4 5.23 4.75 3 11.06 36.1 7.04 14.2 109 16.4 14.5 6.25 9.14 7.4 100.7 0.69 55.15 239.2 8.36 14.1 0.183 1.93 12.6 1.81 5.1 165 1.17 2.45 93 145 3.25 5.6 15 9.5 14.02 18.48 9.1 1.08 1.14 110 2.02 3.3 5.34 36 1.94 8.38 1.53 5.49 1.15 12.3

1.31 34.2 0.245 24.95 80.9 353 22.5 5.02 4.55 2.86 10.42 35.85 6.85 13.88 90.35 16.4 13.62 6.05 8.8 7.33 97.4 0.67 50.2 230.4 8.35 13.6 0.183 1.8 12.4 1.7 5.1 162 1.14 2.45 76 89.9 3.05 5.5 14.64 9.18 13.88 18.28 9.1 1.01 1.06 110 2.02 3.3 5 36 1.9 8.03 1.47 5.49 1.1 11.2

1.32 35.5 0.245 24.95 82.3 353 23 5.14 4.7 2.86 10.7 36.05 6.99 14.2 100 16.4 14.3 6.05 9.14 7.39 99 0.69 54.3 237 8.35 14 0.183 1.92 12.54 1.78 5.1 162 1.16 2.45 79.05 97.2 3.2 5.6 14.8 9.18 14 18.48 9.1 1.03 1.13 110 2.02 3.3 5 36 1.94 8.22 1.47 5.49 1.1 12

98000 1992200 100000 1148400 267330 152510 194500 575400 110000 31723000 16400 224600 27900 731000 190 600 284600 27700 1603800 662100 60890 589000 82440 766170 1000 501800 10000 44934000 209200 2184000 2400 1203480 1735000 7000 90340 164530 15440000 35000 371500 148800 1712100 797700 1000 706000 1549000 7500 20000 3000 75000 4500 4467000 219800 241000 200 504000 117900

128420 70515045 24500 29084655 21996981 54047838 4473050 2951017 501450 92768200 178608 8086525 194687 10330974 18858.5 9840 4067006 167803 14477637 4889557 6028739 401850 4456474.5 180699498 8352 6976612 1830 84503610 2607062 3865830 12240 195799425 2002440 17150 7599174 16870864 49272260 193500 5484188 1376175 23949072 14730858 9100 732990 1722140 825000 40400 9900 377000 162000 8594050 1813856 360210 1098 568140 1388088

-5280 -22861855 739020 7910030 3505634 -253510 -1167315 2968310 -14756 -5871660 -166518 -182710 -109685 -2155199 -2272763 -3819340.5 451424.5 51258968 1533446 -23062660 -1207082 12600 -27796255 -43180.0001 17150 43408 6276850 4759248 -171121 -18461472 11699846 -262240.0002 747650 -384130.9997 77868

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.85 14.32 935 49.5 13 3.73 0.68 1.18 1.19 6.78 9.25 13.6 0.224 868.5 63.5 6 4.91 0.49 4.65 13.5 0.62 4.77 0.038 1.26 2.73 1.35 395.2 1025 176.1 0.82 256 0.226 0.245

0.86 14.76 940 49.7 13.02 3.74 0.7 1.19 1.23 6.89 9.26 13.8 0.239 870 64.05 6.38 7.16 0.51 4.66 13.54 0.63 4.8 0.039 1.29 2.87 1.4 415 1027 183.7 0.83 256.4 0.236 0.255

0.89 14.28 935 49.25 12.88 3.62 0.67 1.16 1.23 6.7 8.81 13.7 0.223 865 66.4 6.39 4.85 0.51 4.47 14.06 0.6 4.64 0.038 1.24 2.87 1.39 415.2 1018 176 0.84 256.4 0.226 0.26

0.9 15 953.5 49.9 13.1 3.76 0.7 1.2 1.23 6.9 9.28 13.8 0.239 881 66.4 6.39 4.85 0.51 4.65 14.06 0.63 4.8 0.038 1.3 2.87 1.39 415.2 1037 183.7 0.84 256.8 0.237 0.26

0.86 14.22 932.5 48.55 12.84 3.62 0.67 1.15 1.22 6.63 8.79 13.6 0.223 863 63.5 5.5 4.85 0.49 4.44 13.5 0.6 4.57 0.038 1.23 2.87 1.39 415 1008 172.8 0.82 256.4 0.226 0.235

0.86 14.34 935 49.5 13.02 3.73 0.7 1.19 1.23 6.89 9.25 13.8 0.239 870 63.5 5.5 4.85 0.49 4.65 13.5 0.63 4.8 0.038 1.26 2.87 1.39 415 1027 183.7 0.83 256.4 0.237 0.25

15748000 93800 699410 1596800 14742400 2190000 13000 2012000 10000 229300 8829700 527500 100000 151840 1559450 1400 1000 9000 4317000 1188200 292000 39006000 4800000 232000 10000 14000 30 1552140 637630 157000 150 250000 2990000

13681130 1349302 657536215 78327705 191677272 8149050 9020 2369330 12290 1558644 80950751 7175300 22460 132387950 99666770 7939 4850 4470 19898160 16074096 177270 185972280 182400 292590 28700 19460 12454 1592543725 116609574 131720 38464 56720 747950

541800 160923050 -29393405 -75465120 -260700 -4200 29801 -17517252 -73140 -55077880 -10443408 -14035350 1798590 41396880 1524900 14379922 -2568 -1100

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 0.95 0.96 0.97 0.99 0.94 0.96 2733000 2629720 22180 ANCHOR LAND 9.61 10.3 10.02 10.02 10 10 8600 86002 AYALA LAND 49.05 49.25 48.5 49.25 48.45 49.25 17231900 846146885 -114184405 ARANETA PROP 1.95 1.97 1.91 1.97 1.91 1.97 169000 331070 BELLE CORP 2.16 2.19 2.18 2.19 2.15 2.19 1272000 2738670 -1367810 A BROWN 0.78 0.81 0.78 0.81 0.78 0.81 324000 256700 CITYLAND DEVT 0.83 0.85 0.83 0.83 0.83 0.83 97000 80510 -10790 CROWN EQUITIES 0.227 0.235 0.235 0.235 0.227 0.227 30000 6890 CEBU HLDG 5.8 6 6 6 6 6 200 1200 -1200 CEB LANDMASTERS 4.66 4.68 4.58 4.71 4.58 4.68 329000 1534350 284710 CENTURY PROP 0.55 0.56 0.56 0.56 0.55 0.56 9314000 5133130 -221650 CYBER BAY 0.4 0.405 0.405 0.405 0.4 0.405 1090000 439750 DOUBLEDRAGON 23.25 23.3 22.9 23.3 22.3 23.3 307900 7037340 4396170 DM WENCESLAO 10 10.06 9.86 10.08 9.86 10 1624900 16096702 1382540 EMPIRE EAST 0.455 0.465 0.455 0.46 0.455 0.46 140000 64150 FILINVEST LAND 1.7 1.71 1.67 1.73 1.67 1.71 37769000 64395240 3925120 GLOBAL ESTATE 1.29 1.3 1.27 1.3 1.27 1.29 298000 384120 8990 HLDG 15.46 15.5 15.44 15.5 15.44 15.5 499900 7730324 -1436658 PHIL INFRADEV 1.39 1.4 1.37 1.42 1.37 1.4 1871000 2613970 -141000 CITY AND LAND 0.73 0.79 0.73 0.79 0.73 0.79 33000 24150 MEGAWORLD 5.28 5.29 5.39 5.4 5.29 5.29 28555200 152194888 4448290 MRC ALLIED 0.305 0.31 0.305 0.31 0.305 0.31 4800000 1474900 -3100 PHIL ESTATES 0.45 0.46 0.455 0.455 0.45 0.45 410000 185550 PRIMEX CORP 2.01 2.02 2 2.02 2 2.02 64000 128460 ROBINSONS LAND 24.9 25 24.4 25.1 24.1 24.9 2685500 66828910 13986210 PHIL REALTY 0.385 0.395 0.39 0.39 0.385 0.385 40000 15450 ROCKWELL 2.31 2.35 2.24 2.35 2.24 2.35 399000 921180 SHANG PROP 3.17 3.25 3.2 3.28 3.1 3.25 785000 2570520 9600 STA LUCIA LAND 2.46 2.5 2.4 2.5 2.4 2.49 4665000 11528950 99200 SM PRIME HLDG 34.1 34.5 34.1 35.25 34.1 34.1 27162300 944109930 371828235 STARMALLS 5.7 5.87 5.58 5.88 5.58 5.87 58200 339163 SUNTRUST HOME 0.8 0.84 0.81 0.81 0.8 0.8 58000 46410 VISTA LAND 7.55 7.71 7.4 7.71 7.33 7.71 6525000 49603118 -14732260

SERVICES ABS CBN 18.3 18.34 18.1 18.4 18.1 18.34 30200 553472 GMA NETWORK 5.32 5.35 5.35 5.35 5.31 5.35 65700 349327 MANILA BULLETIN 0.45 0.47 0.42 0.47 0.42 0.45 190000 84700 GLOBE TELECOM 1915 1936 1960 1988 1915 1915 48505 94218380 -2382750 PLDT 1131 1144 1141 1184 1131 1131 152215 174181445 37262270 APOLLO GLOBAL 0.047 0.048 0.047 0.048 0.047 0.048 600000 28300 IMPERIAL 1.88 2 1.86 2.05 1.86 1.86 72000 138430 ISLAND INFO 0.11 0.113 0.11 0.113 0.11 0.113 610000 67400 ISM COMM 5.13 5.14 5.08 5.13 5.04 5.13 814600 4145036 10176.9998 NOW CORP 2.16 2.17 2.11 2.17 2.11 2.17 684000 1474750 -93160 TRANSPACIFIC BR 0.315 0.32 0.31 0.32 0.31 0.315 1400000 440900 PHILWEB 3.42 3.44 3.46 3.47 3.36 3.42 1176000 3997790 2GO GROUP 10.1 10.3 10.4 10.4 10.3 10.3 6700 69320 1030 ASIAN TERMINALS 18.62 19.84 18.52 18.52 18.5 18.5 900 16660 CHELSEA 6.76 6.79 6.65 6.8 6.65 6.79 997000 6711537 -26960 CEBU AIR 93.5 94.45 93 94.5 91.7 93.5 316730 29644892 7915912 INTL CONTAINER 128.5 128.9 124 129.2 124 128.5 1017040 129821748 46129305 LORENZO SHIPPNG 0.89 0.9 0.87 0.89 0.87 0.89 142000 125340 MACROASIA 18.9 18.94 19.02 19.08 18.94 18.94 221800 4211638 625654 METROALLIANCE A 1.12 1.2 1.2 1.2 1.2 1.2 6000 7200 PAL HLDG 8.1 8.15 8.1 8.15 8.1 8.15 9700 78985 HARBOR STAR 1.61 1.63 1.59 1.7 1.57 1.61 847000 1372150 -47500 ACESITE HOTEL 1.52 1.62 1.58 1.6 1.58 1.6 58000 92700 BOULEVARD HLDG 0.058 0.059 0.059 0.059 0.057 0.059 1300000 75420 GRAND PLAZA 9.77 11.08 9.78 9.78 9.78 9.78 300 2934 WATERFRONT 0.69 0.7 0.68 0.7 0.67 0.7 1330000 904680 -25840 CENTRO ESCOLAR 6.8 6.99 6.99 6.99 6.99 6.99 5000 34950 IPEOPLE 9.26 9.64 9.24 9.24 9.22 9.22 11300 104395 STI HLDG 0.71 0.72 0.7 0.71 0.69 0.71 915000 643720 BERJAYA 2.27 2.28 2.29 2.29 2.27 2.27 13000 29570 BLOOMBERRY 10.3 10.5 10.72 10.76 10.3 10.3 4788600 50280696 -15784724 PACIFIC ONLINE 2.65 2.66 2.63 2.7 2.61 2.66 220000 583760 2660 LEISURE AND RES 3.25 3.27 3.2 3.27 3.2 3.25 172000 555500 MANILA JOCKEY 3.05 3.2 3 3.2 3 3.2 11000 33200 PH RESORTS GRP 4.68 5.18 5 5 4.65 4.68 20000 94180 PREMIUM LEISURE 0.68 0.69 0.69 0.7 0.68 0.69 1050000 716040 40220 TRAVELLERS 5.45 5.46 5.46 5.46 5.44 5.46 10632100 57953436 -5955930 METRO RETAIL 2.52 2.54 2.51 2.59 2.51 2.51 208000 526880 -12780 PUREGOLD 44 44.45 44.2 44.75 43.95 44.45 1826700 80812830 -19079605 ROBINSONS RTL 76.8 77.95 77.5 78.05 76.8 76.8 773920 59488958.5 30466399 PHIL SEVEN CORP 144.5 144.9 143.2 144.5 143.2 144.5 460 66431 -36125 SSI GROUP 2.86 2.87 3.01 3.03 2.82 2.87 7790000 22591780 -1010150 WILCON DEPOT 15.8 15.84 15.7 15.88 15.7 15.84 353600 5591938 1534008 APC GROUP 0.5 0.52 0.5 0.52 0.5 0.52 2046000 1023040 EASYCALL 8.99 9.28 8.72 9.4 8.39 9.28 14700 130719 GOLDEN BRIA 420 427 419.8 425 419.8 425 4450 1880832 IPM HLDG 5.2 5.25 5.45 5.45 5.25 5.25 8000 42825 PAXYS 2.91 3.04 2.91 3.04 2.91 3.04 6000 17590 PRMIERE HORIZON 0.55 0.56 0.52 0.57 0.51 0.56 46918000 26063520 1209620 SBS PHIL CORP 9.09 9.36 9.38 9.38 9.38 9.38 1300 12194

MINING & OIL ATOK 12.5 12.86 12.62 12.9 12.5 12.86 9200 115260 APEX MINING 1.34 1.35 1.31 1.35 1.29 1.35 5189000 6802630 -546600 ABRA MINING 0.0016 0.0018 0.0016 0.0018 0.0016 0.0018 29000000 48800 ATLAS MINING 2.57 2.58 2.63 2.66 2.55 2.57 858000 2220880 -1939730 BENGUET A 1.11 1.15 1.1 1.15 1.1 1.15 11000 12350 BENGUET B 1.11 1.28 1.14 1.14 1.11 1.11 337000 381940 -255699.9999 COAL ASIA HLDG 0.27 0.275 0.275 0.275 0.275 0.275 10000 2750 CENTURY PEAK 2.73 2.75 2.7 2.73 2.7 2.73 16000 43590 DIZON MINES 7.8 7.85 7.89 7.89 7.74 7.84 2600 20363 FERRONICKEL 1.44 1.45 1.42 1.46 1.42 1.45 745000 1079110 175200 GEOGRACE 0.203 0.207 0.206 0.208 0.206 0.207 70000 14480 LEPANTO A 0.113 0.114 0.115 0.115 0.114 0.114 710000 81590 LEPANTO B 0.113 0.118 0.116 0.118 0.116 0.118 20000 2340 MANILA MINING A 0.009 0.0094 0.0094 0.0095 0.009 0.0091 78000000 713800 MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 21600000 221300 MARCVENTURES 1.05 1.06 1.03 1.06 1.03 1.06 52000 53820 NIHAO 0.98 1 1.01 1.01 1 1 2000 2010 NICKEL ASIA 2.5 2.53 2.46 2.54 2.46 2.5 1891000 4749850 -486090 OMICO CORP 0.46 0.49 0.47 0.49 0.45 0.49 190000 86300 ORNTL PENINSULA 0.82 0.83 0.81 0.83 0.81 0.83 189000 153580 PX MINING 3.7 3.75 3.85 3.94 3.67 3.7 3375000 12714730 42660 SEMIRARA MINING 22.3 22.5 22.15 22.65 22.15 22.3 665700 14920165 6590755 UNITED PARAGON 0.0062 0.0064 0.0063 0.0063 0.0063 0.0063 1000000 6300 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 5100000 57200 PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.011 20300000 211900 PHINMA PETRO 5.35 5.36 5.39 5.52 5.36 5.36 402000 2179503 163200 PXP ENERGY 12.7 12.72 12.32 12.9 12.32 12.7 2489400 31509902 -1189922

PREFFERED

HOUSE PREF A 95.15 100 100 100 100 100 1000 100000 AC PREF B1 495 500 498.8 500 495 495 3270 1633652 AC PREF B2 498 505 505 505 500 505 1030 515140 DD PREF 101.6 101.8 101.6 101.6 101.6 101.6 30 3048 SMC FB PREF 2 995 1005 995 995 995 995 890 885550 885550 FGEN PREF G 104.8 107 106 106 104.8 104.8 32930 3490532 GLO PREF P 492 510 505 505 504.5 505 12340 6231600 GTCAP PREF B 950 970 970 970 950 950 180 172080 LR PREF 0.99 1 0.99 1 0.99 1 2353000 2334990 PNX PREF 3A 98.3 102 102 102 102 102 30 3060 PCOR PREF 2A 995 1010 1010 1010 1010 1010 10 10100 PCOR PREF 2B 1019 1030 1019 1019 1019 1019 5 5095 PCOR PREF 3A 1030 1040 1030 1035 1030 1035 5210 5392100 PCOR PREF 3B 1021 1035 1040 1040 1021 1021 245 252565 SMC PREF 2B 76 76.5 76 76 76 76 12000 912000 SMC PREF 2C 78.05 78.5 78.3 78.5 78 78.5 1610 125888 SMC PREF 2D 75.5 75.6 75.6 75.6 75.6 75.6 400 30240 SMC PREF 2F 76 76.95 76.6 77 76.6 77 67290 5180747 SMC PREF 2G 75.1 76.5 76.4 76.5 76.4 76.5 5000 382300 SMC PREF 2I 75.1 76.4 76.25 76.25 76 76 5070 385337.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.1 5.16

17.5 5.3

17.98 5.14

17.98 5.33

17.2 5.14

17.5 5.33

4100 24400

71748 127155

WARRANTS LR WARRANT

1.6

SMALL & MEDIUM ENTERPRISES ITALPINAS 6.8 MAKATI FINANCE 2.23 XURPAS 0.97

1.69

1.6

1.69

1.6

1.69

3000

4890

-

6.85 3.57 0.98

6.91 2.38 0.96

7.07 2.38 0.98

6.8 2.38 0.96

6.8 2.38 0.98

1420500 8700000 1381000

9834261 20706000 1340060

-8280 -79910

EXHANGE TRADE FUNDS FIRST METRO ETF

117.5

-36748 -

117.8

117.5

118

117.1

117.5

16130

1896039

-23530

www.businessmirror.com.ph

CAB will soon punish airlines for chronically delayed flights

T

By Lorenz S. Marasigan

@lorenzmarasigan

HE Civil Aeronautics Board (CAB) is currently crafting a policy penalizing local airlines that have chronically delayed flights, a move seen to force carriers to review the viability of their commercial flight plans and help improve the operations of airports across the Philippines.

Carmelo L. Arcilla, the agency’s executive director, said the

memorandum circular will spell out the regulation on on-time per-

formance of airlines, but will be measured specific to their route sectors, and not the whole airline operation as a whole.

At present, the Department of Transportation publishes the ontime performance of airlines on a general basis, meaning it takes into account all of the flight operations, delays and cancellations. “ We are coming up w ith a regulation that will penalize the chronic delays. We are drawing the line between normal delays and chronic delays,” Arcilla said.

He explained: “For example, you have five flights to one destination per day, the last flight is more than 50 percent delayed for

a month. To our mind, it goes to the soundness of the planning of the airline—there is a problem in the way you plan your services.”

Arcilla noted that the penalties will be pecuniary in nature, but quickly said that his group is still in the process of finalizing the policy. “ We w i l l issue t he memo randum circular in a couple of months. There will be a monetary penalty, so that when the airline knows that the flight is not viable, they have to change it,” he said.

Only local airlines will be covered by the forthcoming policy, as foreign carriers are already regulated in their home countries, Arcilla explained.

23 gencos pitch offers to supply Meralco power needs via CSP Continued from B1

Mid-merit power plants are those that can adjust the power output as demand for electricity fluctuates throughout the day. Greenfield power plants are those that are built from scratch while brownfield plants are those that are already existing.

The CSP requires distribution utilities to hold competitive bidding for their supply requirements as against securing power deals via bilateral contracts. This is meant to ensure transparency and fair competition.

Meralco earlier inked seven PSAs with several power generation com-

panies, including two from its power generation arm Meralco PowerGen, which is building power plants under Redondo Peninsula Energy Inc. and Atimonan One Energy Inc. The remaining five are with St. Raphael Power Generation Corp., Meralco’s joint venture with Consunji-led Semirara Mining and Power Corp.; Central Luzon Premiere Power Corp. (CLPPC); Mariveles Power Generation Corp. (MPGC); Panay Energy Development Corp.; and Global Luzon Energy Development Corp.

CLPPC and MPGC are under SMC Global Power Holdings, the power arm of SMC. However, these PSAs, with a total

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices continued their fall last week—fourth consecutive downturn—still on global jitters.

The benchmark Philippine Stock Exchange index (PSEi) fell 58.41 points to close at 7,795.98 points. The main index was only up on Wednesday but was down during the rest of the four-day work week.

“It was a dire week for global equities as almost every single market across the globe ends lower. This came as we saw an ‘inverted yield curve’ on US Treasury Bonds. The yield curve has inverted before every US recession since 1955, suggesting to some investors that an economic downturn is coming,” Christopher Mangun, research head at AAA Securities Inc., said.

A yield curve occurs when interest rates on short-term bonds are higher than interest rates paid by long-term bonds. Average daily trading for the week was at P7.41 billion, while foreign investors were net sellers at P4.52 billion.

Most of the subindices ended lower, led by the broader All Shares index that fell 42.97 points to 4,741.14 points, the Financials index plunged 72.31 to 1,779.29, the Industrial index gained 40.05 to 10,844.32, the Holding Firms index rose 96.58 to 7,727, the Property index declined 63.05 to 4,036.97, the Services index retreated 22.74 to 1,568.85, and the Mining and Oil index lost 101.03 to 8.051.19.

Losers edged gainers 149 to 74, and 25 shares were unchanged.

Top gainers were PTFC Redevelopment Corp., F and J Prince Holdings Corp. A, Concrete Aggregates Corp. B, Sta. Lucia Land Inc., PXP Energy Corp., and Oriental Petroleum and Minerals Corp. B. Top losers, on the other hand, were Metro Alliance Holdings and Equities Corp. A and B shares, Cirtek Holdings Philippines Corp., Harbor Star Shipping Services Inc., Vitarich Corp., Bloomberry Resorts Corp. and Ionics Inc.

THIS WEEK

SHARE prices are seen to remain weak this week, mainly on global headwinds, and there will be no immediate local impetus for investors to trade as the earnings season ended last week.

“The PSEi is slowly approaching its next major support level at 7,600 which is its last stop before potentially going all the way down to 7,000. This is a scenario that we do not want to see. That being said, this market needs to find strong support and going down to 7,600 may be exactly what it needs,” Mangun said.

It will be another four-day work week as Wednesday is a special nonworking holiday for the Ninoy Aquino Day. “If we see another selloff from foreign investors, then this market may see another week of losses. We also may see the market calm down as investors wait out this storm,” Mangun said.

STOCK PICKS

BROKER Regina Capital and Development Corp. gave a buy recommendation on the stock of Megaworld Corp. but only when its support price of between P5 and P5.27 per share on the stock holds.

“Indicators all remain bearish. The stock’s support at 5.27 looks strong and can serve as a good entry point, given that it holds,” it said.

Megaworld shares closed Friday at P5.29 apiece.

Meanwhile, the broker gave a hold recommendation on the stock of Andrew Tan’s holding firm Alliance Global Group Inc. after it made a fifth consecutive day of trading in the red last week.

“It closed a whopping 4.66 percent lower, with indicators still on very strong selling pressures. All indicators are now supporting a continued downward bias which may have AGI testing a support level at P11.74,” it said.

AGI shares closed last week at P13.02 apiece. VG Cabuag

capacity of over 3,500 MW, were not implemented following the Supreme Court order that all power supply agreements filed on or before June 30, 2015, shall undergo CSP. The SC decision stemmed from allegations that the Energy Regulatory Commission (ERC) gave

MUTUAL FUNDS

due preference to Meralco by extending the deadline for compliance of CSP. The ERC appealed the SC ruling.

However, this was denied recently.

The ERC said it would file a Motion for Clarification on how to implement the SC decision. Lenie Lectura

August 16, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 257.34 0.31% -2.1% 0.27% 2.04% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5503 4.36% 2.72% 1.53% 7.6% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.003 -1.3% -3.38% -0.94% 2.56% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9423 4.08% N.A. N.A. 4.58% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8583 2.12% N.A. N.A. 4.58% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.3813 1.27% -0.87% 0.37% 2.05% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8636 0.79% -5.11% N.A. 3.22% MBG EQUITY INVESTMENT FUND, INC. -A 117.74 6.02% N.A. N.A. 1.36% PAMI EQUITY INDEX FUND, INC. -A 51.5684 3.56% -1.04% N.A. 4.76% PHILAM STRATEGIC GROWTH FUND, INC. -A 539.3 3.63% -1.82% 0.17% 4.77% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3078 3.39% -0.41% 1.67% 4.29% PHILEQUITY FUND, INC. -A 38.3299 3.38% 0.27% 1.64% 4.63% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0196 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2353 4.47% -0.09% 2.12% 5.58% PHILIPPINE STOCK INDEX FUND CORP. -A 874.23 4.51% -0.38% 2.06% 5.53% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9122 5.6% -1.03% N.A. 6.07% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2906 4.76% -0.04% 1.72% 5.71% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0046 4.05% -0.42% N.A. 5.27% UNITED FUND, INC. -A 3.6883 4.14% 1.2% 2.51% 5.36% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.1105 4.91% 0.45% 3.11% 5.75% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$0.9055 -10.91% 0.24% -2.54% -2.54% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2613 -1.51% 6.3% N.A. 14.12% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6842 0.66% -3.1% -2.18% 2% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3038 1.48% -1.54% 0.29% 4.28% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6487 2.6% -0.46% -1.22% 4.15% GREPALIFE BALANCED FUND CORPORATION -A 1.3435 1.01% N.A. N.A. 3.01% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9511 5.23% 0.06% 1.26% 5.86% PAMI HORIZON FUND, INC. -A 3.7982 5.99% -0.96% 0.65% 7.62% PHILAM FUND, INC. -A 17.0097 6.27% -0.88% 0.55% 6.93% SOLIDARITAS FUND, INC. -A 2.1388 2.86% -0.03% 1.59% 3.36% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8908 5.86% -0.05% 1.32% 6.56% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0209 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0068 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0034 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9963 6.33% 0.05% 1.07% 8.09% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03857 9.61% 2.18% 2.73% 9.26% PAMI ASIA BALANCED FUND, INC. -A $0.9588 -3.08% 0.63% -1.76% 4.94% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7063 1.99% 4.65% 2.78% 12.02% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1095 4.23% 3.07% N.A. 9.85% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.28 3.78% 2.21% 2.32% 2.86% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9105 2.58% -0.03% 0% 2.76% COCOLIFE FIXED INCOME FUND, INC. -A 3.0729 5.43% 5.38% 5.29% 3.25% EKKLESIA MUTUAL FUND INC. -A 2.2229 4.75% 1.41% 2.21% 4.4% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3532 6.15% 1.61% 1.71% 6.72% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6078 1.63% -1.62% 0.21% 2.77% PHILAM BOND FUND, INC. -A 4.3226 9.56% 0.62% 1.98% 10.28% PHILEQUITY PESO BOND FUND, INC. -A 3.7442 7.33% 1.15% 1.75% 6.46% SOLDIVO BOND FUND, INC. -A 0.9551 5.82% -0.23% N.A. 7.17% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0342 9.64% 1.86% 2.71% 9.7% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6831 9.67% 1.38% 2.25% 9.3% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $462.57 4.17% 1.68% 2.8% 3.16% ALFM EURO BOND FUND, INC. -A Є219.88 2.86% 1.29% 1.57% 3.39% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1925 6.66% 1.94% 2.52% 5.93% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0259 4.44% 0.92% N.A. 4.44% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7173 0.79% -2.2% 0.57% 1.6% PAMI GLOBAL BOND FUND, INC -A $1.1011 6.18% -0.45% -1.64% 6.25% PHILAM DOLLAR BOND FUND, INC. -A $2.4155 11.24% 1.46% 3.76% 11.27% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0600187 5.7% 1.8% 2.03% 5.3% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1728 9.31% 0.83% 3.26% 10.47% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.37 4.08% 2.6% 2.06% 2.89% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0201 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2387 5.63% 2.37% 1.45% 4.81% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2509 3.9% 2.75% 2.13% 2.6% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0307 2.19% N.A. N.A. 1.46%

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."

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Monday, August 19, 2019

B3

Subsidies to GOCCs drop in June to ₧7.04 billion

S

By Cai U. Ordinario @caiordinario

UBSIDIES extended by Filipino taxpayers to government-owned and -controlled corporations (GOCCs) declined by more than half as of June, according to the Bureau of the Treasury (BTr).

Data released by the BTr showed the national government subsidies contracted 60.59 percent in the first semester of 2019.

Total subsidies reached P26.698 billion in the Januar y-to-June period in 2019 lower than the P67.744 billion posted in the same

period of last year.

In June, subsidies extended to government corporations reached P7.04 billion in June 2019, a 52.27 percent contraction from the P14.75 billion in June 2018.

The decline in subsidies was mainly due to the 59.79 percent and

16.67 percent contraction in funds extended to the National Food Authority (NFA) and Light Rail Transit Authority (LRTA), respectively.

Subsidies to the NFA contracted to P2.09 billion in June 2019, from the P5.2 billion posted in June 2018. Funds extended to the LRTA, meanwhile, declined to P5 million in June 2019, from P6 million in June 2018.

The National Irrigation Administration received the largest subsidy in June with P4.61 billion. This was a 54-percent growth from the P2.996 billion it received in June 2018.

This brought the total subsidies extended to major nonfinancial government corporations to P6.71 billion in June 2019. This was a 23.31 percent contraction from the P8.75 billion posted in June 2018.

Meanwhile, other government

corporations received subsidies worth P330 million in June 2019, a 66.63-percent decline from P989 million in June 2018.

A mong t hese cor porat ions, the Small Business Corp. received the largest subsidy at P325 million followed by the Development Academy of the Philippines at P157 million.

In the first semester, the government corporation that received the most subsidy was the Philippine Health Insurance Corp., which received a total of P1.449 billion in 2019. The whole amount was extended in May 2019.

This was followed by the Philippine Coconut Authority which has received a total of P976 million in 2019. The largest subsidy was extended by the national government to PCA in May worth P755 million.

LandBank approves ₧126-million loan via credit line for sugar farmers L AND Bank of the Philippines Inc. (LBP) announced recently that as of August 13 it already approved loans amounting to P126 million, benefiting 814 borrowers, through a credit line for sugar farmers.

“We will work doubly hard and we will continue to work closely with SRA [Sugar Regulatory Administration] and the DA [Department of Agriculture] to extend more loans under the program,” LBP President and CEO Cecilia C. Borromeo was quoted in a statement as saying.

LBP said individual sugarcane farmers from Negros Oriental and other sugar-producing regions stand to benefit from this program called the Socialized Credit Program (SCP) under the Sugarcane Industry Development Act. The SCP-SIDA, according to the bank, is a continuing direct lending program that LBP implements with the SRA. Funded by the SRA by virtue of Republic Act 10659, the SCP-SIDA is specifically designed to help improve the productivity and increase

the income of individual sugarcane farmers, block farms and common ser vice centers through direct access to credit.

According to LBP, about 41 farmers in Negros Oriental have already availed of the program since SCPSIDA was launched in 2018. Several other applications are currently being processed by the SR A for endorsement to LBPI, the bank said.

At least 90 more farmers have also expressed interest in the program, following orientations conducted

by LBP and SRA in the barangays of Manduao, Villasol and Mabinay.

These villages are all within a 10-kilometer to 15-kilometer radius from the mill of LBP client HDJ Bayawan Agri-Venture Corp. (HDJ BAV).

According to LBP, some 1,680 sugarcane farmers in Bayawan, Negros Oriental now find it more profitable to engage in farming because of the subsidized hauling services and the constant market for their produce through HDJ BAV. “With HDJ’s presence right at the heart of the Lapay-Dawis-Mabinay

Agrarian Reform Communities, the transportation cost is considerably reduced by at least 80 percent, as with the cutting-to-milling time of canes,” LBP said.

According to the bank, before the mill was constructed, the farmers had to shell out P610 per ton of cane for hauling and travel more than 60 kilometer to collect their hard-earned money. Hauling cost now averages as low as P50 per ton for areas within 5 km, P100 for areas between 5 km to 10 km and P150 for areas between 10 km to 15 km.

Farmers get their products milled at HDJ BAV with a 68:32 share agreement for the milled sugar and molasses: 68 percent for the farmer and 32 percent for HDJ BAV. The corporation also buys the farmers’ share, providing a ready market for their produce.

“The only way for farming to remain feasible and attractive to the Filipino farmer is to make it profitable even to the small players,” HDJ BAV President Pryde Henry Teves was quoted in the statement as saying.

LBP financed HDJ’s acquisition of sugar mill equipment and machineries, heavy equipment, and farm implements through a term loan in 2017. In August 2018, the company was granted additional financing for the construction of additional mill structures, equipment for a second mill, construction of a bioelectric switchyard, and installation of interconnection line.

HDJ now has twin mills equipped with a rated capacity of 600 tons of cane per day and power generation of three megawatts. The first mill is operational and undergoing fine-tuning. Currently powered by a generator, the mill will soon shift to producing its own power fueled by bagasse and other feedstock. The power that will be generated in excess of the mill’s consumption will be sold to the grid.

The “SCP-SIDA is just one of the programs by which we are pursuing a more focused and direct approach in lending to provide small farmers with direct access to credit,” Borromeo said.

Perspectives

Nurture and develop new skills and capabilities in order to stay ahead

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IGITAL disruption impacts every corner of business, but will be especially visible with regards to the size, shape and capability of the work force. As back-office processes become increasingly automated, we will see roles evolving, being redefined and, yes, disappearing.

Inevitably, advances in technology will mean fewer staff have the necessary skills to utilize new advances such as ML, cognitive planning, demand signals interpretation and robotics. This presents a challenge for business leaders, who may need to invest in different skills and develop new capabilities in order to stay ahead.

Many leading organizations are establishing Digital Centers of Excellence (DCoEs) to ensure learning is developed cross-functionally and investing in learning platforms with third-party content to train their work force. In this way, staff can be made aware of new technological capabilities, how they work and how to apply them to various business scenarios.

Companies are also investing in new techniques for ideation, solution design and implementation.

These include design thinking concepts, customer journey mapping and personal development.

When setting up a DCoE within your organization, KPMG believes there are five distinct roles that need to be considered. This is an approach that we’ve already put in place for a leading global energy company. The roles are as follows: Pathfinding squad: Designing and building prototypes and proofs of concept to demonstrate innovative digital solutions that drive performance.

Ecosystem manager: Establishing a digital ecosystem—market scan, prospects development, digital road show, partner engagement, contractual arrangements and partner onboarding.

Change agent: Driving behavioral change management to transform the ways of working and build active commitment and buy-in to the DCoE. Product and use case architects: Working with business sponsors and product owners to challenge, redefine and prioritize use cases and progress through to delivery.

Lead data officer: Ensuring data insights are developed through

the DCoE and are translated into realized value. Prioritizing data curation based on performance-led case selection.

Shaping the supply chain operations work force of the future

THE supply chain of the future is likely to employ a mix of workers, including core employees, “on-demand” or contract workers sourced globally via alternative employment platforms, “bot” workers and, increasingly, ecosystems of collaborative partners.

Whilst HR departments will still need to recruit the right people, develop the right critical skills and understand exactly how the size and shape of their work force needs to evolve, they will also need to consider how to replace the relative certainties of traditional supply-anddemand work force forecasting with a more “agile” model; a model that can empower employees with the right skill sets, structure and culture to be successful.

KPMG believes new roles and skills will be required to execute supply chain operations processes in the future. Some of which are included below:

n Data analyst n Scenario analyst n Robotics and autonomous engineer n Data scientist n Operations strategist n Employee experience consultants n Customer journey architect n Frictionless process champion These new roles will live within the operations organization and their respective capabilities will need to be more integrated, collaborative and governed to deliver improved customer experience.

The excerpt was taken from the KPMG article “Supply Chains for a Digital World: A Practical Guide to Achieving Long and Short-term Goals.” © 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. Printed in the Philippines For more information on KPMG in the Philippines, you may visit www. kpmg.com.ph.

Green Monday BusinessMirror

A8 B4 Monday, August 19, 2019

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

Agricultural biodiversity as a way of life

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Story & photos by Jonathan L. Mayuga @jonlmayuga

arly in the morning everyday, a loud familiar voice could be heard at a small village in General Trias, Cavite. On top of her voice, she calls out her regular customers who are eagerly waiting for her.

The voice belongs to Marilou Panganiban, 33, a vegetable vendor, who goes house-to-house in the half-developed village in Barangay Buenavista I. Panganiban has been selling assorted vegetables in the last six years, targeting small villages in the barangay.

Sometimes, she would bring okra (ladies fingers) and talong (eggplant). One time, it was a bunch of patola (sponge gourd) and the last time, pipino (cucumber).

Natural, nature-based food

WhaT makes this vegetable special? They are organically grown by village residents who opt to produce food their way—whether in a small farm or a backyard vegetable garden.

“There are a variety of vegetables to choose from. Just outside the village, my friend is growing okra. In another village, there are eggplants. I just buy and sell vegetables,” Panganiban said.

Within the same village there is a farming family that owns more than a dozen carabaos.

Besides planting rice, vegetables or cash crops, like banana and cassava, alonzo Reyes, 59, is a dairy farmer—producing at least a gallon of carabao milk every day, which he sells to health buffs and joggers passing by his small variety store, before the van of a dairy cooperative he leads as its chairman arrives to pick up the day’s produce.

The cooperative packs the fresh carabao milk and sells them in the market and selected grocery stores in General Trias.

Inside the same village, teenagers passing by often take the opportunity to pick mushrooms, which are abundant during the rainy season.

“There are lots of mushrooms these days. But it is not easy to get them,” Reyes said. along Governor Ferrer Road, vendors man makeshift stalls, selling assorted fruits and vegetables—from mangoes to guava, banana, and lately, santol.

Sometimes, an ambulant vendor selling mud crabs can be seen

comfortably sitting under a tree along the highway.

Whether they are fruits, vegetables, milk or mud crabs, although produced in small quantities, these natural and nature-based food help fill the country’s food basket.

Commercial production

BeFORe agriculture, people rely on natural and nature-based food, fruits and vegetables, including meat and dairy and eggs.

But because of the increasing demand for food brought about by the ever-growing number of mouths to feed, agriculture—or the process of producing food on a massive and the commercialscale—was conceived.

W hile the traditional-food production practice paved the way for indust r i a l i zat ion, it has also caused environmental degradation with the massive conversion of forest, coastal and marine areas, including lakes and other ecosystems.

The excessive use of agrochemicals, on the other hand, caused various environmental problems— soil and water pollution—further destroying sources of natural or nature-based food.

Massive land conversion

WITh farming becoming unprofitable and farm lands becoming unproductive, more and more farms are targeted for land conversion for residential, commercial and industrial development.

“You can’t blame the landowners for selling their lands. Capitalist interests always prevail,” Reyes said in Filipino.

Reyes, who has been a farmer all his life, witnessed how vast tracts of agricultural lands, including irrigated lands, are turned into residential villages, commercial and industrial complexes, undermining agricultural productivity.

“There are irrigated lands here that were converted [to other uses] because the proponents have connections [with influential people],” he explained. he said even barangay officials have learned the trade of land conversion, playing real-estate agents

high-crop yield is naturally done.

Furthermore, she said there are researches on landscape-level scenarios where biodiversity is preserved, while food is still largely produced.

“Therefore, the current notion of natural food’s advantages should be integrated to agricultural farming in order to respond to both preserving our environment and natural resources and producing enough nutritious food for the population,” she said.

alonzo reyes milks a carabao as his father feeds it with grass beside their house in barangay buenavista , general Trias, Cavite.

Ancient food production Marilou Panganiban shows the organically grown vegetables she is selling.

and paving the way for land developers to do their thing.

Nonetheless, farming continues in their village. “Sometimes, I plant on a vacant property if the owner allows me. But it’s now more for the family’s consumption. We have a big family. I give whatever I produce to my brothers,” he said.

Agricultural biodiversity

NaT u R a l a nd n at u re -ba sed food production can be considered part of the more encompassing agricultural biodiversity, or agrobiodiversity.

In the book, Mainstreaming Agrobiodiversity in Sustainable Food Systems: Scientific Foundations for an Agrobiodiversity Index, agricultural biodiversity is defined as the variety and variability of animals, plants and micro-organisms that are used directly or indirectly for food and agriculture, including crops, livestock, forestry and fisheries.

It compr ises t he d iversit y of genetic resources (varieties and breeds) and species used for food, fodder, fiber, fuel and pharmaceuticals. asean Centre for Biodiversity (aCB) executive Director Theresa Mundita S. lim said the promotion of natural and nature-based food is part of the aCB’s advocacy under the agrobiodiversity program in Southeast asia, a region that helps feed the world’s human population. “an intact, well-protected biodiversity is a healthy, balanced natural ecosystem that can provide diverse, pesticide-free, natural and nature-based foods,” lim, a former director of the Biodiversity Management Bureau (BMB) of the Department of environment and Natural Resources (DeNR) said. however, she said the environment has already been exposed to a lot of contaminants, such as harmful chemicals, invasive alien species, microtechnologies and “diminishing natural environment,” coupled with the growing

population and increasing demand for food and feeds.

She said it is no longer practical to rely only on natural food and nature-based food these days.

“We also still need agri-food.

The key element, however, that must be present in either natural or nature-based food and agrifood is sustainability. If the food is from the natural environment or nature-based, harvesting should still be done in such a way that you do not over-extract or create an imbalance in the natural ecosystem,” lim said.

She said people can produce their own food. however, harmful chemicals or overuse of fertilizers or feeds should be avoided, and proper waste management must be adopted.

“Other technologies that are more environment-friendly can also be adopted, such as integrated multi-trophic farming systems or closed-loop agriculture,” she added.

Cheaper, healthier food

aCCORDING to lim, a biodiversity expert, the advantage of naturebased and natural foods is that it is cheaper and healthier if it was sourced from a healthy, natural ecosystem.

“Your only investment is protecting the habitat where it thrives and ensuring that you allow it to replenish itself and not harvest faster than it can reproduce or propagate. Natural foods also encourage diversity, and since it evolves with nature, it can contain the genes that make it resistant in its native environment,” lim said.

She said there’s a need to complement agri-food with naturebased and natural foods.

“The diversity and nutrients that can be found in natural foods are very difficult, if not impossible to replicate. Technologies to approximate the characteristics of natural foods could be very expensive or may not be available at all. In particular, characteristics

that add value to protecting biodiversity and that contribute to human welfare as well. Natural foods are more accessible to indigenous peoples and local communities. For most indigenous peoples, these foods are an important part of their traditional diet and their cultural practices, as well,” she explained.

Gia Glar ino, Research and Commu n ic at ions of f icer a nd Public hea lth campaig ner of the environmental group K alikasan-People’s Network for the environment, agreed.

Glarino said through e-mail that there is a notion that natural food and nature-based food are healthier than agricultural food, as natural foods have much more vitamins, antioxidants that provide nutrition for people, as opposed to agricultural food that contains harmful chemicals.

More than that, natural food preserves the environment and the biodiversity, Glarino said.

“Nonetheless, it is important to note that agriculture, particularly in the Philippines, remains mainly for importation and the profit motive, and not mainly for feeding the domestic population, especially the poor and the hungry,” she said.

Aided by science, technology

aCCORDING to Glarino, ideally, agriculture has the advantages of having science and technology to improve its products in terms of quality and quantity, and the capacity to study on how to balance its effects on our environment.

“Its improvement should be based on the needs of the population, and its nutrition should not degrade but rather enhanced,” she said.

She explained that other countries have done studies and practices of better agricultural farming, such as organic farming and ecological agriculture methods, where there is no or minimal use of chemicals, and the management of

pHl pACkAgiNg iNduStry geAriNg up for SuStAiNAbility

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HE Philippine packaging industry is bracing itself for changes as it prepares to face the challenges of sustainability.

Packaging Institute of the Philippines President Stefano Paolo Buñag said in his report at the ProPak Asia 2019 Global Packaging Forum in Bangkok that the packaging industry in the Philippines is alive and well, with its share of challenges and new gems and opportunities.

“The Philippine economy is doing well, and the government has embarked on an aggressive move to improve the country’s infrastructure, ways to improve doing business, and is supporting the MSME [micro, small and mediumsized enterprises] sector,” Buñag reported.

He noted that the country’s MSMEs have steadily improved their packaging—both aesthetically and functionally. But he insisted that more can be done. “We need to expose and inspire the entrepreneurs to aim higher,” Buñag, who is also a director of local graphics and packaging design pioneer Design Systemat, added.

Among the challenges that all enterprises have to face is the issue of sustainability. Local

companies have now placed sustainability and the environment among their priorities.

Some of them are starting to partner with the government and other organizations to address the retrieval and reduction of postconsumption packaging waste.

The use of plastic, in particular, is a global issue. “Total bans are looming in Canada, some EU countries, as well as in the Philippines,” said Buñag, while mentioning that research and development is already being done by government institutions, as well as the academe to find alternatives to this most common of packaging materials.

He shared, for example, that the Department of Science and Technology has developed a biodegradable thermoplastic polymer made of starch and nanoparticles.

The private sector is also getting involved.

Manufacturers of fast-moving consumer goods are already deploying innovative methods of dispensing their products, such as refilling stations using reusable or repurposed containers. A beverage company has partnered with local organizations to recycle plastic waste into benches, apparel, bags, chairs and decor.

“A food manufacturer has even partnered with local organizations to address the retrieval of post-consumed packaging waste by creating a raffle draw—giving out raffle tickets in exchange for a certain number of used packaging,” shared Buñag.

The move to reduce and retrieve postconsumed packaging materials is now a global mission. The European Union, in fact, has already drafted a new regulation dubbed the Circular Economy Package, which is targeted at improving the efficient use of materials, including rules for packaging and packaging waste.

These new rules include increases in the recycling rates for all packaging materials.

Plastic packaging, in particular, has to reach a recycling rate of 55 percent in 2030, and all plastic packaging needs to be recyclable 100 percent in 2030.

“Major investments in recycling capacity and infrastructure will be needed to fulfill the targets of recyclability,” Buñag said.

“These will require companies and their suppliers to adapt to these new recycling guidelines on an international level for them to compete globally.”

MounTain garbage in a municipal landfill for household waste in australia. WWF.oRG.AU

AuStrAliA plANS to Set dAte to bAN exportiNg plAStiC wASte

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A N B E R R A , Au s t ra l i a —Au s t ra l i a n government leaders last week agreed to set a timetable for banning exports of waste plastic, which is now shipped to regional neighbors, including Indonesia, Malaysia, Thailand and Vietnam.

Federal, state and territor y leaders agreed at a meeting at the Great Barrier Reef city of Cairns to task their environment ministers with setting a timetable to end

the cross-border disposal of waste plastic, paper, glass and tires.

Wa s t e d i s p o s a l h a s b e c o m e a n i n c re a s i n g l y p re s s i n g p ro b l e m s i n c e 2017 when China, previously its main destination, barred imports of almost all foreign plastic waste.

Australian leaders agreed their strategy must seek to reduce waste, especially plastics, decrease the amount of waste

GlaRINO said natural foods are still available in spite of large monocrop plantations around the globe.

“There are indigenous tribes who are wholly dependent on their ancestral lands, where they get their food, and no or minimal chemicals were used for growing their harvest,” she pointed out. however, she stressed that there are now studies and practices where organic farming methods are used for agricultural farming, where the improvement of food products are naturally done, citing, for example, the use of compost as fertilizer as opposed to chemical fertilizers.

“There are even farms that use different kinds of crops to keep a high biodiversity on a certain area.

There are people who also produce organic food in their backyards, while there are also businesses that produce organic food to provide healthier and environmentfriendly options to consumers,” she elaborated.

Subsistent micro-economy

aCCORDING to Glarino, for the longest time until now, natural and nature-based food is actually the subsistent micro-economies of indigenous and rural communities. “a network of communitybased cooperative farming across the world helps counter the unsustainable ag rochemica l industry that depletes the quality of soil and pollutes irrigation,” she said. however, there are serious threats to natural and naturebased food production systems.

“Threats to natural food would be the continuous destruction of our natural ecosystems. That would be the continuous construction of infrastructures, such as mining and monocrop plantation in our forests, reclamation in our bays and others,” she ended.

For Panganiban and Reyes, whether on farms or just a backyard vegetable garden or just some vacant lot in an underdeveloped village, natural or nature-based food production is a way of life. g o i n g t o l a n d f i l l a n d m a x i m i ze t h e capability of Australia’s waste management and recycling sector to collect, recycle, reuse, conver t and recover waste, the meeting’s communique said.

Prime Minister Scott Morrison said only 12 percent of waste that Australians place in recycling bins was recycled.

“There will be no exports of plastics and paper and glass to other countries where it runs the risk of ending up floating around in our oceans whether off the Great Barrier Reef—which we know there’s strong evidence of that— or any where else,” Morrison said.

Morrison added he wanted the export ban implemented as soon as practicable, and did not expect the change to take years.

Australia spends Aus$2.8 billion ($1.9 billion) a year exporting 4.5 million metric tons (5 million US tons) of rec yclable waste, 80 percent of which is shipped to Asian ports.

E nv i ro n m e nt a l i s t s h ave p ro te s te d outside the Australian consulate in the Indonesian city of Surabaya, against tons of Australian waste plastic and paper that they say is shipped to Indonesia, burnt and dumped in waterways . AP

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, August 19, 2019

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

1 million Indians plant 220 million trees in a day

US govt weakens application of Endangered Species Act

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ASHINGTON—The Trump administration moved last week to weaken how it applies the 45-year-old Endangered Species Act, ordering changes that critics said will speed the loss of animals and plants at a time of record global extinctions.

IndIAn schoolchildren hold saplings distributed by the government in Prayagraj, India. AP/RAjesh KuMAR singh

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UC K NOW, I nd i a— More than a million Indians planted 220 million trees last week in a government campaign to tackle climate change and improve the environment in the country’s most populous state.

Forest official Bivhas Ranjan said students, lawmakers, officials and others planted dozens of species of saplings, along roads, rail tracks and in forest lands, in northern Uttar Pradesh state. The target of 220 million saplings was achieved by 5 p.m.

Ranjan said the trees, including 16 fruit species, will increase forest cover in the state.

India has pledged to keep onethird of its land area under tree cover, but its 1.3 billion people and rapid industrialization are hampering its efforts.

“We set the target of 220 million because Uttar Pradesh is home to 220 million people,” said state

Chief Minister Yogi Adityanath.

Planting was carried out in 1,4 3 0, 3 81 pl a ce s, i nc lud i n g 60,000 villages and 83,000 sites in forest ranges. “ The whole process is online.

The pits are geo-tagged and the saplings carr y a QR code. So we can record how many saplings are planted and where,” state government Spokesman Awanish Awasthi said.

T he long-ter m sur v iva l of trees remains a concern. Usually, about 60 percent of saplings survive, with the rest succumbing to disease or lack of water, he said.

Kavya Sharma, a seven-year-old student, skipped classes in Lucknow, the state capital, to plant two saplings in a forest range.

It was the second huge treepl a nt i ng c a mpa ig n i n Ut t a r Pradesh. In July 2016, 50 million saplings were planted in a day. AP

35 years of Asean Heritage Parks to be celebrated through a confab in Oct.

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HE Asean Centre for Biodiversity (ACB) will hold the Sixth Asean Heritage Parks Conference from October 21 to 24 to discuss national and regional efforts in protected area management and to celebrate the milestones of the AHP Programme in its 35 years of existence.

Policy-makers, protected area managers, biodiversity experts, representatives from various international organizations, businesses, indigenous peoples and local communities, academia, and the youth will convene in Pakse, Champasak Province, Lao PDR. The conference is organized by the ACB and the Department of Forestry, Ministry of Agriculture and Forestry of Lao PDR, with support from the European Union and the German Development Cooperation through the Kf W. With the theme “Sustainability and Innovation for Parks and People,” the conference will facilitate the sharing of good and innovative protected area management practices and challenges being faced by the AHPs. It will also serve as a venue for the AHPs to showcase their b io d i v e r s it y - b a s e d pro du c t s through the AHP6 Marketplace and Exhibits.

On the first day of the conference, an Asean-EU Policy Dialogue on Protected Areas and Wildlife will be held.

This aims to bring together members of the Asean Working Group on Nature Conservation and Biodiversity, Asean Working Group on Convention on International Trade in Endangered Species of Wild Fauna and Flora and Wildlife Enforcement, the EU Delegations in Asean and other

development partners.

It will be spearheaded by the ACB and the EU as part of the Biodiversity Conservation and Management of Protected Areas in Asean Project.

Parallel sessions will focus on the following: accelerating progress on Aichi Biodiversity Target 11; species and w ildlife conser vation; innovative financing; business and biodiversity; women, youth and indigenous peoples and local communities; sustainable livelihood and biodiversity-based products; and ecosystem-based solutions.

The AHP Program is a flagship program of the Asean that was established to recognize national parks and nature reserves with outstanding wilderness and biodiversity values. It offers opportunities to strengthen regional connectivity and cooperation, as ecosystems and their services transcend national borders. The ACB serves as the secretariat of the AHP Programme.

“To date, there are 44 AHPs in the Asean region,” said Dr. Theresa Mundita Lim, executive director of the ACB. Lim said five protected areas from Myanmar, Thailand and Vietnam were nominated to join the growing network of AHPs. They are Hat Chao Mai National Park and Mu Ko Libong Non-hunting Area (Thailand); Mu Ko Ang Thong National Park (Thailand); Lo GoXa Mat National Park (Vietnam); Ngoc Linh Nature Reserve (Vietnam); and Htamanthi Wildlife Sanctuary (Myanmar).

The AHPs are the best protected areas in the Asean region in terms of ecological completeness, biodiversity richness and conservation importance.

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The action, which expands the administration’s rewrite of United States environmental laws, is the latest that targets protections, including for water, air and public lands.

Two states—California and Massachusetts, frequent foes of President Donald J. Trump’s environmental rollbacks—promised lawsuits to try to block the changes in the law. So did some conservation groups.

Pushing back against the criticism, Interior Secretary David Bernhardt and other administration officials contend the changes, improve efficiency of oversight, while continuing to protect rare species.

“The best way to uphold the Endangered Species Act is to do everything we can to ensure it remains effective in achieving its ultimate goal—recovery of our rarest species,” he said in a statement.

“An effectively administered Act ensures more resources can go where they will do the most good: on-the-ground conservation.”

Under the enforcement changes, officials for the first time will be able to publicly attach a cost to saving an animal or plant.

Blanket protections for creatures newly listed as threatened will be removed.

Among several other changes,

the action could allow the government to disregard the possible impact of climate change, which conservation groups call a major and growing threat to wildlife.

Commerce Secretary Wilbur Ross said the revisions “fit squarely within the president’s mandate of easing the regulatory burden on the American public, without sacrificing our species’ protection and recovery goals.”

The Endangered Species Act is credited with helping save the bald eagle, California condor, and scores of other animals and plants from extinction since President Richard Nixon signed it into law in 1973.

The act currently protects more than 1,600 species in the US and its territories.

W hile the nearly half-century-old Act has been overwhelmingly successful in saving animals and plants that are listed as endangered, battles over some of the listings have been years long and legendary.

They have pitted northern spotted owls, snail darters and other creatures and their protectors against industries, local opponents and others in court and political fights. Republican lawmakers have pushed for years to change the law itself.

John Barrasso, a Wyoming

lAurA moore displays a newly emerged monarch butterfly on her finger in her Greenbelt, maryland yard, on may 31. despite efforts by moore and countless other volunteers and organizations across the united States to grow milkweed, nurture caterpillars, and tag and count monarchs on the insects’ annual migrations up and down America, the butterfly is in trouble. AP/CARolyn KAsteR

Republican who leads the Senate Environment and Public Works Com m it tee, sa id l a st week ’s changes in enforcement were “a good start” but he would continue working to change the act.

P re v iou s Tr u mp ad m i n i s tration actions have proposed changes to other bedrock environmental laws—the Clean Water and Clean Air Acts. The efforts include repeal of an Obama-era act, meant to fight climate change by getting dirtier-burning coalfired power plants out of the country’s electrical grid, rolling back tough Obama administration mileage standards for cars and light trucks, and lifting federal protections for millions of miles of waterways and wetlands.

The changes “take a wrecking ball to one of our oldest and most effective environmental laws, the Endangered Species Act,” Sen. Tom Udall, a New Mexico Democrat, said in a statement. “As we have seen time and time again, no environmental protection—no matter how effective or popular—is safe from this administration.”

One of the changes includes allowing the federal government to raise, in the decision-making process, the possible economic cost of listing a species.

That’s even though Congress has stipulated that economic costs not be a factor in deciding whether to protect an animal. The prohibition was meant to ensure that the logging industry, for example, would not be able to push to block protections for a forest-dwelling animal on economic grounds.

Gary Frazer, an assistant director at the US Fish and Wildlife Service, told reporters that the government would adhere to that stipulation by disclosing the costs to the public without it being a factor for the officials, as they consider the protections.

Price tag or no, Frazer said, federal officials would keep selecting and rejecting creatures from the endangered species list, as Congress required, “solely on the basis of the best available scientific information and without consideration for the economic impacts.”

“Nothing in here, in my view, is a radical change for how we have been consulting and listing species for the last decade or so,” Frazer added.

But Brett Hartl, a government affairs director for the Center for Biological Diversity conservation group, contended any such price tag would be inflated, and “an invitation for political interference” in the decision whether to save a species.

“You have to be really naive and cynical, and disingenuous to pretend” otherwise, Hartl said.

“That’s the reason that Congress way back...prohibited the Service from doing that,” he said. “It’s a science question: Is a species going extinct, yes or no?”

A United Nations report warned in May that more than 1 million plants and animals globally face extinction, some within decades, owing to human influence, climate change and other threats. The report called the rate of species loss a record.

I n Wa sh i ng ton st ate, R ay Entz, wildlife director for the Kalispel tribe, spoke of losing the struggle to save the last wild mountain caribou in the lower 48 states, despite the creature’s three decades on the endangered species list.

With logging and other human activities, and predators driving down the numbers of the south Selkirk caribou, Canadian officials captured and penned the last surviving members of the species over the winter for their protection.

“There were some tears shed,” Entz said, of the moment when tribal officials realized the animal had dwindled in the wild, past the point of saving. “It was a tough pill to swallow.”

Despite the disappearance of the protected caribou species from the contiguous United States, Entz said, “We don’t want to see a weakening of the law.”

“There’s times where hope is something you don’t even want to talk about,” he said. But, “having the Endangered Species Act gives us the opportunity to participate in that recovery.”

In Idaho, meanwhile, officials reported that the state’s sage grouse population has dropped 52 percent since the federal government decided not to list the birds under the Endangered Species Act in the fall of 2015.

Wildfires, as well as oil and gas exploration and farming, have cut into the grouses’ habitat, so that as few as 200,000 are believed to remain out of as many as 16 million a century ago. AP

High hopes that Berlin zoo’s panda is expecting

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ERLIN—Experts say they’re pretty sure Berlin zoo’s sixyear-old panda Meng Meng is pregnant.

Meng Meng mated for the first time with nine-year-old partner Jiao Qing in April, and was also artificially inseminated to increase the likelihood of pregnancy. She is now displaying an enlarged uterus, weight gain, hormonal changes, lethargy and other signs of pregnancy.

The Leibniz Institute for Zoo

and Wildlife Research has been conducting regular examinations and says the indications are looking good for a late August or early September birth of one or two cubs, which would be Germany’s first-ever panda births.

Institute expert Thomas Hildebrandt said last week that “although phantom pregnancies are relatively common in giant pandas, at the moment we are around 85 percent sure that Meng Meng is actually expecting.” AP

FemAle panda meng meng eats bamboo at its enclosure at the zoo in Berlin, Germany, in this photo taken through a window, on April 5. AP/MiChAel sohn

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Verano Greenhills: Grand Taipan’s Premiere Real Estate Development

LEFT TO RIGHT Director of Project Development, Rontristan Notado; Director of Sales and Marketing, Inah Cabrera-Nicolas; San Juan City Mayor, Francis Zamora; Grand Taipan Director of Finance, Analyn Agabin; Barangay Greenhills Chairman, Alan Yam.

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ERANO Greenhills gives a glimpse of urban luxury through its newly opened showroom located at the ground floor of Richbelt Tower in Annapolis St., Greenhills, San Juan City. The showroom features a one-bedroom model unit, as well as a scale model of the property and artist renderings of the amenities.

“It has always been my lifelong dream to build developments that will provide first-rate quality living. With our first ever showroom, Grand Taipan will be able to showcase a

glimpse of urban luxury only from Verano Greenhills,” says Grand Taipan founder and president Joeben Tai. Present at thr inauguration were Grand Taipan executives including Rontristan Notado, director of project development, Inah Cabrera-Nicolas, director of Sales and Marketing, and Analyn Agabin, director of finance. Also gracing the occasion was San Juan City Mayor Francis Zamora together with Barangay Greenhills Chairman Alan Yam.

The first and premiere real estate development of Grand Taipan, Verano Greenhills is set for completion by 2022. Verano is a 50-storey condominium tower of spacious residential units.

Aside from this, high-end serviced residences will take up nine floors of the property, thereby offering utmost exclusivity.

It will have premium amenities and lifestyle features: a bi-level recreation area for a fitness center, study room, private mini theater, music room, kids play room, and game room.

It will also feature a well-designed swimming pool for recreation.

Finally, there will be a function hall for special occasions and corporate events, as well as a sky deck that gives an amazing view of the city.

Verano Greenhills has been cited by 2018 Property Guru Philippines Property Awards for”Best Condo Architectural Design” and “Highly Commended for Best Condo Interior Design.”

Helping Grand Taipan in the overall construction of Verano Greenhills is Building Beaver Corp., a subsidiary of Hilmarc’s Construction Corporation.

Intellicare, Mayo Clinic partner to give Filipinos access to highly-specialized healthcare

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SALUS Corporation (operating under the trade name “Intellicare”), part of Fullerton Healthcare Group (“Fullerton Health”), announced today that it has entered into a collaboration agreement with Mayo Clinic. A signing ceremony was held at the premises of Fullerton Health’s headquarters in Singapore to formalize the agreement.

With this collaboration, Mayo Clinic joins Intellicare’s accredited medical network, offering highly-specialized healthcare to Intellicare patients with serious or complex conditions. Patients with these conditions may be assessed by a Mayo Clinic provider through an electronic review or referred to a Mayo Clinic destination in the United States for a second medical opinion, which could include a refined diagnosis or further treatment recommendations.

Dr. Gerardo Jiao, Medical Director of Intellicare, stated: “We are extremely excited about this collaboration with Mayo Clinic.

At Intellicare, we constantly seek new ways to provide our patients with quality care.

Through this agreement, our patients can now access Mayo Clinic’s knowledge and expertise for serious and complicated cases.”

David Sin, Co-Founder, Group President and Executive Deputy Chairman of Fullerton Health, commented: “This collaboration is a vital milestone in our relationship with Mayo Clinic. Leveraging Mayo Clinic’s experience in providing high quality, patient-centered care will help us bring forward our vision to deliver affordable and accessible care to all in Asia Pacific.”

Dr. Charles Rosen, M.D., Medical Director of Mayo Clinic Contracting and Payer Relations, remarked: “Our agreement with Intellicare bridges continents to help patients with complex care and serious illness needs.

This collaboration and Mayo Clinic’s model of care supports our mission to inspire hope and healing to people around the world.”

TOYOTA SPONSORS HEALTH SERVICES FOR FACULTY AND STAFF OF ADOPTED SCHOOL. Toyota Motor Philippines Foundation (TMPF) sponsored a week-long health and wellness activities for the faculty and staff of its adopted school, Pulong Sta. Cruz Elementary School (PSCES), in Santa Rosa, Laguna. As part of Toyota’s support to the school, TMPF contracted the services of a medical and diagnostic center to provide PSCES faculty and staff with a comprehensive annual physical examination (APE) with laboratory tests that included complete blood count, urinalysis, fasting blood sugar (FBS), uric acid test, creatinine, lipid profile, SGPT and electrocardiogram (ECG). Free flu vaccination was also provided in anticipation of the onset of the flu season. For the female faculty and staff, TMPF held a Breast Cancer seminar (in photo), in partnership with the Philippine Foundation for Breast Care, Inc. (PFBCI), to raise awareness on early detection by conducting self-breast examination.

Toyota also contributes to the holistic development of PSCES by upgrading the school’s facilities and equipment, conducting health and wellness activities, as well as providing skills and aptitude trainings for its teachers and students.

Nickel Asia employees deliver thousands of ‘lapis at papel’ to Malimono

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ecognizing that the smell of new pads of papers and the feel of new pencils can bring excitement and enthusiasm to any young student, employees of Nickel Asia Corp. (NAC), and its subsidiaries, pooled together personal resources to gift some 3000 students of Malimono with “lapis at papel”.

The activity is part of the mining company’s yearly Personal Social Responsibility (PSR) program wherein NAC employees take it as their civic duty to contribute to the betterment of the communities in their own personal capacity.

Malimono was chosen as beneficiary this year, a 5th class municipality outside the mining communities and a coastal town in Surigao del Norte.

NAC employees made happy the students from 16 schools in Malimono in its 14 barangays – gifting each student 2 pads or papers and 2 pencils. Some kindergarten kids even received coloring books, crayons and sharpeners.“It was a pleasant surprise.

The children were very happy, the teachers were almost emotional. NAC employees went to all of our elementary schools even in those farthest areas accessible only by bangka and habal-habal. We are all very thankful to NAC employees for the very sweet gesture,” says Dr. Alicia Amalia, District Supervisor, DepEd Malimono.

The ‘lapis at papel’ contributions were gathered from NAC employees in its mining operations in CARAGA Region and Dinagat Islands – Cagdianao Mining, Hinatuan Mining, and Taganito Mining; also in Rio Tuba in Palawan – Rio Tuba Nickel Mining; in Isabela – Dinapigue Mining; as well as employees of Cordillera Explorations and Emerging Powers Inc. All subsidiaries of NAC. “The NAC PSR in Malimono showed the communities that people from the mining companies of NAC are one with us and are very much part of the very society we live in,” says Jay Ronald L. Becina, Principal at Malimono Central School.

CONCERNS ON HEAT GET HOTTER High bacteria level cancels swim leg of Tokyo triathlon

Sports BusinessMirror

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| Monday, August 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ROWERS yield at the World Junior Rowing Championships in Tokyo.

MEXICO’S Cecilia Perez collapses because of the heat after finishing in 39th place in the triathlon competition which Bermuda’s Flora Duffy wins in controversial fashion.

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OKYO—High levels of bacteria forced the swimming portion of a triathlon test event for the Tokyo Paralympics to be canceled on Saturday.

It’s the second setback in the triathlon for organizers of next year’s Olympics and Paralympics. An Olympic triathlon running event was shortened from 10 kilometers to 5 kilometers on Thursday because of what the International Triathlon Union (ITU) called “extreme levels” of heat.

Tokyo’s hot and humid summers are a major worry for Olympic organizers.

The water issues are a reminder of the Rio de Janeiro Olympics three years ago when high bacteria and virus levels were found in waters for sailing, rowing and open-water swimming.

In a statement, the ITU said E. coli levels were “more than two times over the ITU limits.” It said the water was at Level 4, the highest risk level.

E. coli bacteria, which normally live in the intestines of animals and people, can produce intestinal pain, diarrhea and a fever.

The venue in Tokyo Bay, called Odaiba, has been a concern for organizers, who have experimented with different measures to clean the water in the area, located in an urban part of central Tokyo.

The ITU is scheduled to hold its final test event on Sunday “depending on the latest water quality tests,” it said in a statement.

A few days ago the ITU described water quality conditions at the venue as “very good.” However, swimmers at a recent distance swimming event at the same venue complained of foul smelling water.

The water temperature at the venue on Saturday was 29 degrees Celsius (84oF), with the air temperature hovering above 32oC (90oF).

Tokyo Spokesman Masa Takaya said “we are set to conduct a comprehensive review with the international federation.”

He said a triple-layer underwater screen will be installed for next year’s Olympics, replacing a single-layer.

“Based on the results of multiple research in the past, we believe that the multiple layer screen will assure the successful delivery of the competitions,” he said.

Filthy water plagued the Rio de Janeiro Olympics. The South American city lacks a functioning sanitation system for much of its population. Open water there tested high for bacteria and viruses, which confronted athletes in rowing, sailing and triathlon. AP

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Bermuda’s Duffy wins in controversial fashion

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ERMUDA’S Flora Duffy emerged victorious from a heat-affected World Triathlon Olympic qualifier, which doubled as a test event for Tokyo 2020, in the most unexpected fashion.

In her first event back following a year out with injury, Duffy triumphed after British leaders Jessica Learmonth and Georgia Taylor-Brown were disqualified for causing a deliberate tie after taking the tape hand in hand.

The 31-year-old’s bike display showed she has lost none of her trademark power and rhythm on two wheels, and she hung on in the run to triumph in one hour, 40 minutes and 19 seconds.

The officials’ decision to disqualify Learmonth and Taylor-Brown was taken after it was deemed they had breached a rule that states: “Athletes who finish in a contrived tie situation, where no effort to separate their finish times has been made, will be disqualified.”

The disappointment was clear from the two Britons who looked to have the beating of the tough course and extreme heat that led to organizers halving the distance of the running section to 5 kilometers in accordance with International Triathlon Union (ITU) rules to safeguard the athletes.

Teammate Vicky Holland was magnanimous as she assumed third place in 1:41:11.

She finished behind Italy’s Alice Betto, whose silver medal-winning performance in 1:40:54 was enough to secure her a place at Tokyo 2020.

“There was a lot of cobwebs to blow away and it was hard from the start,” Duffy said. “I haven’t done this intensity in over a year and there were times that I didn’t think I’d be back at the points end of a race so this is best-case scenario.”

Brazil’s Vittoria Lopes held on for a superb fourth-place finish ahead of the United States’ Summer Rappaport and Germany’s Laura Lindemann,

both of whom qualified for Tokyo 2020.

Lisa Perterer also booked her place at next year’s Olympics as the highest-ranked Austrian athlete, finishing 21st.

The swimming and cycling segments of the event were unchanged after the ITU deemed the water quality and temperature in the Odaiba Marine Park course to be within regulation.

ITU regulations state that the swimming segment must be shortened or canceled if the water temperature is above 30.9 degrees Celsius, but the highest water temperature measured today was 30.3oC. The world governing body implemented a series of measures for the Olympic qualifier, due to continue with the men’s race tomorrow, to help protect athletes from the high heat and humidity.

But Mexico’s Cecilia Perez was among those to show the effects of the conditions, collapsing after finishing in 39th place. Insidethegames

HE Liberal Democratic Party (LDP) in Japan will create a heatstroke prevention study group to help the country prepare for next year’s Olympic and Paralympic Games as fears over extreme heat continue to overshadow preparations for Tokyo 2020.

Soaring temperatures in July resulted in 57 deaths, while 12,751 people were taken to hospital last week as temperatures approach 40 degrees Celsius, according to a report produced by the Environment Ministry, and the Fire and Disaster Management Agency.

In 2018, 95,137 people were admitted to hospital suffering from heatstroke between May and September, the largest figure since the agency started a survey in 2008.

As concern grows in Japan for the impact on the Olympic Games—to be held between July 24 and August 9—the LDP’s study aims to help the 2020 Games run smoothly and without any major issues concerning athletes’ and visitors’ health.

Among the issues to be discussed are the likelihood of foreign visitors not being accustomed to Japan’s hot and humid summer weather, how to protect athletes and spectators from extreme heat and providing heatstroke information to tourists.

The Japan Times reports that the LDP group will hold detailed talks with weather experts and officials from ministries and agencies concerned, including the Environment Ministry, and the Fire and Disaster Management Agency.

The group, which is headed by former environment minister Yoshio Mochizuki, reportedly hopes such measures will be reflected in the government budget for the fiscal year, which begins in April.

Over the weekend, temperatures in Tainai in the Niigata Prefecture topped 40.7oC, the highest recorded across Japan this summer.

Test events in Tokyo in the last three weeks have seen athletes complain about water temperatures in open-water swimming races, rowers suffering heatstroke at the World Junior Rowing Championships and a World Triathlon Olympic Qualifier being shortened because of the hot and humid conditions.

Tokyo 2020 has rescheduled the start times for the Olympic and Paralympic marathons after temperatures were recorded at 31oC at 6 a.m. in Tokyo.

A wave of countermeasures have also been introduced, including special coatings on the marathon routes which, it is claimed, are expected to suppress temperature rises by as much as 8oC. A Tokyo 2020 cooling project has also been launched which includes cool spaces at venues and spectators being allowed to take their own bottled water to events, something that has been prohibited at previous Olympic Games due to security and sponsorship concerns.

ROADS TO BE PAVED WITH HEAT-SHIELDING MATERIALS

ALLEVIATING the extreme heat concerns at the Tokyo 2020 Olympic and Paralympic Games remains

a key priority for organizers according to Takeo Hirata, the Japanese government’s coordinator for the Games.

In a blog published in the Japan Times, Hirata claims the efforts to combat the summer heat in Japan have been a primary concern since Tokyo was awarded the 2020 Olympic and Paralympic Games in Buenos Aires in 2013.

Fears for the impact of extreme heat in Japan next year have been heightened by a heatwave suffocating the country in recent weeks, which has seen 57 people die and more than 18,000 admitted to hospital.

“Upon my return from Argentina, I was asked by the Prime Minister’s office to lead the National Government’s preparations for the Tokyo 2020 Games,” Hirata wrote.

“Initially, my primary concern was Tokyo’s summer heat and humidity that would impact all participants—athletes, staff and spectators,” “This challenge would call on the best of Japanese expertise, innovation and imagination to bring out the best in the athletes competing in very challenging conditions,” Hirata said. “It would also showcase the determination and methods of the world-famous Japanese management and production styles.”

Hirata explained he had three initial questions— how technology could mitigate heat and humidity, what information needed to be made available to foreign visitors about the summer weather and how the needs of people with disabilities could be met.

“I vividly recall meeting the director general of the road division at the land, infrastructure, transport and tourism ministry in 2013 to share my concerns about the intense summer heat and to seek new ideas to make conditions better for athletes,” Hirata wrote.

“We concurred that something had to be done; our agreement led to the development of heat-shielding material on the roads for the marathon events.”

Since then the Tokyo 2020 Organizing Committee have been investigating extreme heat countermeasures, with the latest efforts including roads being painted with a special coating that is expected to suppress temperature rises by as much as 8 oC. “Two years later in 2015, a portion of Aoyamadori was paved with a special coating that reflects infrared rays,” Hirata added.

“Toshihiko Seko, a 1984 Los Angeles Olympic marathon runner, and wheelchair marathoner Nobukazu Hanaoka participated in the test on an intensely hot and humid day.

“The results showed that the temperature of the specially coated road surface was 10 percent lower than that of the uncoated surfaces and, thus, lightened the burden on athletes.”

The countermeasures for the Olympic and Paralympic Games have seen plans put in place to ensure trees along the marathon route do not get trimmed back, but are instead left to provide shade for spectators. Insidethegames

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ALIBABA BUYS NETS FOR RECORD $3.4B

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EW YORK—In a record sale for a US sports franchise, the cofounder of Alibaba agreed to buy the remaining 51 percent of the Brooklyn Nets and Barclays Center for about $3.4 billion, two people with knowledge of the details said Friday.

Joe Tsai already had purchased 49 percent of the team from Russian billionaire Mikhail Prokhorov in 2018, with the option to become controlling owner in 2021.

Instead, he pushed up that timeline for full ownership of a team on the rise after signing superstars Kevin Durant and Kyrie Irving in July.

Terms were not disclosed, but those familiar with the matter told The Associated Press that Tsai is paying about $2.35 billion for the Nets and nearly $1 billion in a separate transaction for the arena. They spoke on condition of anonymity because the agreements are not complete.

The deal is expected to be completed by the end of September and is subject to approval by the National Basketball Association (NBA) Board of Governors.

It will surpass the $2.2 billion that Tilman Fertitta paid for the NBA’s Houston Rockets, and

that David Tepper spent for the National Football League’s Carolina Panthers.

Tsai is the executive vice chairman of the Alibaba Group, the Chinese e-commerce giant.

He already had purchased the WNBA’s New York Liberty.

Prokhorov became the NBA’s first nonNorth American owner in 2010 and oversaw the Nets’ move from New Jersey to Brooklyn two years later. He spent big in the first couple years after the move in a quest to chase a championship, but the team soon became one of the worst in the NBA before rallying to return to the playoffs last season.

He boasted of trying to win a championship within five years of his ownership, rapidly going through players and coaches in the first few years in Brooklyn. But he spent less time around the team in recent years while focusing on his interests in Russia—which at one point included a campaign for president of the Russian Federation—and remained in the background after hiring Sean Marks as the team’s general manager in 2016.

“It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn,

TUCKER WITHDRAWS

USA tops Spain in pre-World Cup exhibition

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NAHEIM, California—This was a week of wake-up calls for USA Basketball, some provided by unheralded G League players in practice and now more offered up by the Spanish national team.

The Americans learned from both.

Donovan Mitchell scored 13 points, Khris Middleton added 12 and the US topped Spain, 90-81, on Friday night in a warmup exhibition in advance of the Fiba World Cup that starts in China on August 31. The Americans shot 55 percent from the field, 58 percent from threepoint range and held a commanding 42-20 edge in rebounds.

“It was a good chance to jump in the fray and see what this is all about,” US Coach Gregg Popovich said after his official debut as Mike Krzyzewski’s replacement with the national team. “It was like a baptism for us. New group, players, coaches, all that sort of thing. It was a real experience.”

There was much he liked, such as the rebounding. There was plenty he didn’t like,

NAOMI OSAKA walks off the court after withdrawing from her match. AP

OSAKA FACES UNCERTAINTY

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such as committing 23 turnovers that Spain turned into 27 points. And the score wasn’t all that relevant to him, though it did extend USA Basketball’s program-record winning streak to 77 games and counting.

That run goes back to the bronze medal game of the 2006 world championships, now called the World Cup, and has continued on through the 2007 Fiba Americas Championship, the Olympic runs in 2008, 2012 and 2016 and the World Cup titles in 2010 and 2014.

Most of those 77 wins have been one-sided.

Only nine have been by single digits, and Spain has been the opponent in four of those contests.

“It was good to see the level and the standard that they’re going to set physically,” said Spain veteran and Toronto center Marc Gasol, who led everybody with 19 points. “It was good for some of the guys that haven’t played against NBA type of athleticism. It was good to see.”

The US led virtually the whole way, had its lead trimmed to eight on a three-pointer by Spain’s Sergio Llull with 4:10 left, and responded

round.

Saturday at the BMW Championship was more than he might have imagined.

Thomas smashed the course record at Medinah with an 11-under 61 that gave him a six-shot lead over Patrick Cantlay and Tony Finau.

with an 8-0 run over the next minute to restore order quickly. Joe Harris made a 3 to start the flurry, Derrick White got a runner from the lane to fall and Jayson Tatum’s three-pointer from near the US bench with 3:15 left made it 88-72 as the Americans sealed matters.

Phoenix’s Ricky Rubio scored 16 for Spain, and Llull finished with 11. Kemba Walker finished with 11 points, eight assists and six rebounds for the US and Tatum had 11 points.

In Perth, Australia turned the tables on Canada in the final quarter on Saturday for an 81-73 win in a pre-World Cup exhibition basketball game.

Canada led 33-30 at halftime Saturday but Australia led 60-59 after three quarters before outscoring the visitors, 21-14, in the final quarter.

On Friday, Canada outscored Australia, 23-13, in the final quarter to beat Australia, 90-70.

Jock Landale led Australia with 13 points Saturday while Jonah Bolden added 12. Khem Birch led Canada with 18 points and Oshae Brissett added 14. AP

Kyrgios fined more than $100,000 for vulgar conduct Barty is in position to snatch it back heading into the Open. She beat Maria Sakkari, 5-7, 6-2, 6-0, with an encouraging all-around effort.

Barty will face Svetlana Kuznetsova, who reached her first semifinal of the season by beating third-seeded Karolina Pliskova 3-6, 7-6 (2), 6-3.

Kuznetsova is playing only her ninth event after missing the start of the season because of a knee injury. On a hot, humid afternoon, she got treatment for tightness in her upper right leg after the second set and twice again during the final one.

On the men’s side, Novak Djokovic continued his push for a second straight Cincinnati title, beating Lucas Pouille, 7-6 (2), 6-1. He’ll face Danlil Medvedev, who knocked off qualifier Andrey Rublev, 6-2, 6-3.

Qualifier Yoshihito Nishioka withdrew because of illness, sending David Goffin into the semifinals. Goffin will face Richard Gasquet, who advanced with a three-set victory over Roberto Bautista Agut.

Seven-time champion Roger Federer was upset Thursday, leaving Djokovic as the only high seed left in the bracket. AP

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ASON, Ohio—Nick Kyrgios was fined $113,000 by the Association of Tennis Professionals (ATP) for expletive-filled outbursts in which he smashed rackets, insulted a chair umpire and refused to get ready to return serve during a second-round match at the Western & Southern Open.

The tour announced the penalties Thursday, a day after Kyrgios berated chair umpire Fergus Murphy and left the court to break two rackets during a 6-7 (3), 7-6 (4), 6-2 loss to Karen Khachanov.

The ATP listed a breakdown of eight fines ranging from $3,000 to $20,000 each for violations, such as unsportsmanlike conduct, verbal abuse and audible obscenity.

The tour also said it is “looking further into what happened during and immediately after the match” to determine whether additional fines

or a suspension is warranted.

Kyrgios is a 24-year-old Australian who is ranked 27th this week. He is a volatile sort who repeatedly has gotten in trouble for on-court actions. He was kicked out of the Italian Open in May after throwing a chair and being suspended by the ATP in 2016 for not trying to win and insulted fans during the Shanghai Masters.

This month, Kyrgios won the Citi Open title in Washington and said he had turned a page in his professional and personal lives.

In the last match on center court Wednesday night, he was back to his old form. During a change-over in the second set, he yelled from his chair: “The worst ref in the game, hands down.” He then vulgarly insisted the umpire does something “stupid” every time he plays.

He opened with five birdies, and none was worthy of a highlight reel because of what followed. He hit a 5-wood from 260 yards on the par-5 10th that was so pure he twirled his club and watched it roll out to two feet.

That wasn’t among the top three memories Saturday.

“I’m very lucky that I had a couple to choose from today,” Thomas said.

In fluffy grass behind the 14th green, he chipped in for birdie. From 180 yards in the 16th fairway, he holed out for eagle.

His felt his best shot was the next hole, a 9-iron from forward tees to a front pin over the water to 6 feet for his eighth birdie of a remarkable round.

“It was easy to get pretty wrapped up in the emotions and get the adrenaline going and I had to take a little bit off that 9-iron,” Thomas said.

ONOLULU—Bidding was drawing to a close over the weekend for a basketball jersey believed to have been worn by President Barack Obama.

Peter Noble was a student at a prestigious and elite Honolulu prep school when he grabbed a basketball jersey that was destined for the trash. Years later he saw an old photo of Obama, a fellow Punahou School alumnus, wearing the No. 23 jersey while a guard on the 1979 Hawaii state championship team.

Noble, who was three years behind the future president at Punahou, said he took the jersey because he also played basketball with that number.

“I took it because they were getting rid of it,” said Noble, now 55 and living in Seattle. “It meant nothing else, really.” Noble grew up “idolizing” Punahou basketball, he said.

It wasn’t until Obama was elected president that Noble saw the photograph. He thought it was interesting and showed the jersey off to friends out of pride for Punahou.

“I talk about Punahou and Punahou athletics perhaps the way an Alabama fan talks about Roll Tide,” he said, referring to University of Alabama’s rally chant.

Mostly, the shirt remained in his closet, following him during moves to various cities.

“I got to thinking: Is there an opportunity to do something, perhaps good?” he said. “Perhaps have this a see a bigger, broader light of day than sitting in my closet.”

Noble connected with Heritage Auctions of Dallas and as of Friday morning, the bid was at $43,000. The sale result will be announced Sunday.

The auction house said every detail on the shirt matches the one Obama is photographed wearing. “We can see the multiple years of wear in the softness of the tackle twill identifiers and the ‘Rawlings [size] 40’ label at lower right front tail, and even a scattering of small stains consistent with blood, perhaps Obama’s,” says a description of the auction item. “A patched repair at lower front left likewise documents the long, rough-and-tumble history of the historic garment.”

Punahou Spokesman Robert Gelber said the school is “enormously proud” of Obama, but cannot confirm authenticity of the jersey.

“We simply cannot make comment on the authenticity of the jersey itself,” he said. “It’s not something we are able to do.”

Obama, who mostly sat on his bench during his Punahou basketball days, couldn’t be reached for comment.

The school will receive an undisclosed portion of the sale, Noble said, “because I owe so much to Punahou.”

He joked that another jersey might have been more valuable to him, personally.

“In hindsight, I wish I had grabbed No. 5 because it was Darryl Gabriel and Darryl Gabriel was my favorite player,” he said. According to Punahou, Gabriel led Obama and their teammates to the state basketball championship. AP

Early in the third set, he took two rackets to the tunnel that leads to the locker room, smashed them on the ground and returned to the court. Warned that he needed to get ready to return Khachanov’s serve, he took a new racket to the baseline and stood taping the handle instead of getting in position to play.

“He can serve the ball,” Kyrgios said as he casually wrapped the handle. “I’m ready. I’m here. Serve it.”

Unsure what to do, Khachanov held off until Kyrgios was ready. Then he finished off the third set, and Kyrgios offered another expletive as he left the court. AP NICK KYRGIOS is a volatile sort who repeatedly gets in trouble for on-court actions. AP HERITAGE Auctions releases a photo of a Punahou High School basketball jersey worn by former student Barack Obama. AP

Thomas clobbers Medinah with 61 for six-stroke lead M EDINAH, Illinois—Winless over the last 12 months, Justin Thomas knew he was playing well and he was due for a low

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players on the market when free agency opened.

“I’ve had the opportunity to witness up close the Brooklyn Nets rebuild that Mikhail started a few years ago,” Tsai said. “He hired a front office and coaching staff focused on player development, he supported the organization with all his resources, and he refused to tank. I will be the beneficiary of Mikhail’s vision, which put the Nets in a great position to compete, and for which I am incredibly grateful.”

Tsai, 55, graduated from Yale and its law school. He figures to help the NBA extend its growth in Asia, where the Basketball World Cup will be held in China this year before the 2020 Olympics in Tokyo. The league is staging preseason games in both countries along with India, the home country of Sacramento Kings owner Vivek Ranadive, whose teams will play in them.

Brett Yormark, the CEO of BSE Global, which manages the Nets and its arena, will oversee the transition before leaving for a new role. AP

SPAIN’S Juan Hernangomez blocks the US’s Jaylen Brown during the second half of their exhibition game. AP

NAHEIM, California—Houston forward PJ Tucker has withdrawn from consideration for USA Basketball’s World Cup roster, meaning 14 players remain in consideration for 12 spots.

Tucker withdrew Friday, citing a minor left ankle issue. He has twisted the ankle twice in the last several days and decided the best move would be to let it fully heal before going to training camp with the Rockets next month.

The 34-year-old Tucker was the oldest player left in World Cup camp with the Americans.

He had three points and three rebounds in the team’s intrasquad scrimmage at Las Vegas on August 9.

The Americans will leave for Australia on Saturday for three exhibition games and several practices before cutting the World Cup roster down to 12 and heading to China. AP

ASON, Ohio—Naomi Osaka felt a strange sensation in her left knee, different than anything she’d experienced. The US Open champion left the court worried about whether she’ll be in shape to defend her precious title.

Osaka retired from her quarterfinal match at the Western & Southern Open on Friday, unsure what’s going on in the knee. She expected to get an MRI. For now, the player currently ranked No. 1 in the world is concerned about her chances of making another deep run in New York.

“Last year, I won the US Open,” she said. “This year, I’m trying to play the US Open.”

The problem came out of the blue.

Osaka split two sets with Sofia Kenin. She felt something unusual in the knee while serving early in the third set. After a timeout to have it examined and wrapped, she played a couple more points before retiring.

“I have no idea what’s going on,” she said.

With that, Kenin advanced to the semifinals for the second straight week. During her run to the semifinals in Toronto, she knocked off then-No. 1 Ashleigh Barty, an upset that allowed Osaka to move up to the top ranking. She’ll face Madison Keys, who beat Venus Williams, 6-2, 6-3, to reach the semifinals for the first time.

and watch them grow strong roots in the community while cultivating global appeal,” Prokhorov said in a statement. “The team is in a better place today than ever before and I know that Joe will build on that success, while continuing to deliver the guest experience at Barclays Center that our fans, employees and colleagues in the industry enjoy.”

Prokhorov had invested $200 million and made funding commitments to acquire 80 percent of the team and 45 percent of the arena project, after the team’s planned move across the Hudson River had repeatedly stalled. He later bought the remainder of the arena, which quickly became a popular attraction for concerts, boxing and college basketball, as well as the home of the New York Islanders.

Tsai, a native of Taiwan, is positioned to take full control of the team by the time the Nets head to China to play two exhibition games against the Los Angeles Lakers in October. That comes at the start of a season of renewed excitement for the Nets, who just three seasons ago won an NBA-worst 20 games but are set to make a big move up the standings after landing two of the best

Bidders vie for Obama’s high-school hoops jersey

“If I’m trying to be perfect there and I don’t hit it right, that very easily could go in the water.”

Thomas was at 21-under 195, with Finau (68) and Cantlay (67) chasing him. He has a clear path to his first victory since the Bridgestone Invitational last August, along with the lead going into the Tour Championship next week and the chase for a $15 million prize.

Only seven players in Professional Golfers

Association (PGA) Tour history have lost a six-shot lead in the final round, most recently Dustin Johnson at the 2017 HSBC Champions.

The goal for Tiger Woods is simply to get to the Tour Championship, where last year he ended five years without winning. Woods had a bogey-free 67, his lowest score since the final round of the Memorial.

When Medinah is this much of a pushover, it didn’t help all that much. He was tied for 31st, with some 18 players ahead of where he needs to be to move into the top 30 in the FedEx Cup and advance to East Lake.

“I shoot 60, it should be all right,” Woods said,

a tongue-in-cheek comment made about the time Thomas was teeing off.

Finau could lock up a spot on the Presidents Cup team if he were to keep his position, even better if he were to finish alone in second. Lucas Glover was nine shots behind, but still projected to be among the top 30.

The perks of the Tour Championship include a chase for a $15 million top prize, along with a spot in all the majors next year. For Thomas, winning means a return to Maui to start the year with the rest of the PGA Tour winners. That’s what he’s thinking about Sunday. AP

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Monday, August 19, 2019 C3

Engineers meet Alberei dribblers

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

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ECHNOLOGICAL Institute of the Philippines (TIP) has its eyes set on locking up a top2 spot in Group B when it battles cellar-dweller Alberei Monday in the Philippine Basketball Association Developmental League Foundation Cup at the Ynares Sports Arena in Pasig City.

At 4-1 won-lost, the Engineers will be the first to wrap up their eliminations schedule and there’s really nothing else they’d like to do than secure a twice-tobeat advantage heading into the quarterfinals.

“It’s going to be big for us,” admitted Coach Potit de Vera, with his side looking at ending the preliminaries on a three-game win streak, with their last being a 110-99 win over Black Mamba.

“We want to have that momentum before going on a long break.”

TIP, however, might still miss the services of Senegalese big man Papa Ndiaye who is recovering from a hamstring injury.

That puts the responsibility on the shoulders of Russel Tan, Bryan Santos and GC Carurucan to end the eliminations on a flurry in the 1:30 p.m. kickoff. Marinerong Pilipino is also looking to lock up a playoff spot at 3:30 p.m. when it takes on Asia’s Lashes Tomas Morato (2-1).

The Skippers benefitted from the sudden withdrawal of Nailtalk-St. Dominic Savio as they now hold a 3-0 card in Group A, putting them a win closer of punching a ticket to the next round.

FOR the San Miguel Beermen, it’s two down and one to go to complete a season sweep.

SMB’S GOAL: GRAND SLAM T HE mission’s got clearer for newly minted Philippine Basketball Association Commissioner’s Cup champion San Miguel Beermen: reinvent its goal of winning the season-ending tournament and crown itself as one of the few grand slam winners.

The Beermen had their initial shot at glory interrupted by sister-team Barangay Ginebra Gin Kings in the 2017 Governor’s Cup. At that time, San Miguel Beer already bagged the All-Filipino and midseason conferences but got booted out in the quarterfinals in a one-game affair with Barangay Ginebra.

The bitter memory still lingers in the mind of the chief architect of the current dominance of the Beermen, Coach Leo Austria.

But he believed they have moved on, and with another chance to get the job done, Austria knew they have to take the roughest road again to complete the elusive treble.

“That’s where we’re headed, nowhere else,” Austria said shortly after his team outworked TNT in a classic six-game series to bag the Commissioner’s Cup on Friday night via a 102-90 win in Game Six. Thanks to import Chris McCullough and the towering duo of June Mar Fajardo and Christian

Standhardinger, San Miguel got the victory in a series that would go down as one of the classics in league history.

Not to be ignored was the consistent effort of Terrence Romeo, who have discovered his role in the team after the KaTropa shipped him to the Beermen last year. He was named Finals Most Valuable Player.

Making them the ultra favorite to win the Governors’ Cup is their roster composed of veterans Alex Cabagnot, Chris Ross, Marcio Lassiter and Arwind Santos.

“It will be really hard,” Austria admitted despite the huge odds in their favor. “We are

targeting another championship in the third conference and eventually win the grand slam. It will be an honor to get that.”

Helping San Miguel Beer’s cause is a long layoff because it won’t play in the early part of the third conference to give way to its key players’ stint in the Fiba World Cup in China from August 31 to September 15.

Fajardo is expected to skip rest and join the national team in its final stretch of practice. On the TNT side, Roger Pogoy and Troy Rosario will also be reactivated in the Gilas pool.

Ramon Rafael Bonilla

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BATANES Governor Marilou Cayco (in yellow) receives the P100,000 cash donation from the league.

Also in photo are Father Glynn Ortega of San Sebastian College-Recoletos, Frank Gusi of University of Perpetual Help, Father Clarence Victor Marquez of Letran, Paul Supan of Jose Rizal University, Dax Castellano of College of Saint Benilde, Rose Inguito and Alfonso Loreto of University of Perpetual Help and Harol Zabala of Jose Rizal University.

NCAA donates P100,000 to Batanes quake victims

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HE National Collegiate Athletic Association Management Committee (Mancom) recently turned over a cash donation of P100,000 to the province of Batanes for the victims of a devastating 5.9-magnitude earthquake late last month.

Batanas provincial officials led by Gov. Marilou Cayco personally received the financial assistance at halftime of the San Beda University-Letran College game at the Cuneta Astrodome in Pasay City.

“We’re very thankful to the NCAA for their support to our province and our kababayans in Batanes. This is a big help for us as we try to recover from this disaster,” Cayco said. “We have families still in the evacuation centers, roads that need to be fixed, and also buildings that have to be repaired. So this is a big help and we’re truly grateful to the NCAA.” Mancom Chairman Peter Cayco of season host Arellano University said the donation is in line with the league’s advocacy, particularly to those affected by natural calamities.

“What we did is part of the league’s advocacy, and as the oldest collegiate tournament in the country, as an institution, we’ve extended our help to our fellow Filipinos in need,” Cayco said.

Mapua’s Paolo Hernandez, meanwhile, was named Collegiate Press Corps NCAA Player of the Week.

The prized rookie Hernandez was hailed for his impressive week that saw Mapua beat Arellano University, Emilio Aguinaldo College and JRU. “We were 0-5 [won-lost] and there was no other way for us but to win,” Hernandez said.

Heeding the call of Head Coach Randy Alcantara, the 6-foot-3 versatile forward did most of the job in their recent back-to-back wins wherein he averaged 15.5 points, 4.0 rebounds, 2.5 assists and 2.0 steals.

After dropping 11 points, three rebounds, two assists, and two steals in the Cardinals’ 76-66 victory versus the Generals, he turned in a career game with 20 points, five rebounds, three assists and two steals in their loudest statement yet in the tournament, an 83-63 rout of the Heavy Bombers.

College of Saint Benilde, meanwhile, opened its title-retention bid with a 4-0 rout of EAC in chess action on Saturday at the San Beda campus.

Not to be outdone was last season’s runnerup Lyceum of the Philippines University, which fashioned out a 3-1 win over Mapua.

In other Round 1 results, Arellano University blanked Jose Rizal University, 4-0, while University of Perpetual Help System Dalta nipped Letran, 2.5-1.5.

Reigning juniors champion Perpetual Help, behind top board Eric Labog Jr., edged Letran, 2.51.5 for a winning start.

J LAURE provided the inspiration coming off a long hiatus as University of Santo Tomas (UST) disposed of Lyceum of the Philippines University, 25-18, 25-13, 25-21, to join Arellano University and College of Saint Benilde in the Pool B lead of the Premier Volleyball League Season 3 Collegiate Conference at the Filoil Flying V Centre in San Juan on Sunday.

Laure, the University Athletic Association of the Philippines Season 77 top rookie, made two points and had five excellent digs and a pair of excellent receptions but more importantly motivated the rest, particularly rookie Imee Hernandez, who fired nine points, with freshmen Janna Torres and Kecelyn Galdones combining for 13 points.

But Ysa Jimenez suffered an ankle injury even before the match had started as the wing spiker made a bad landing during warm-up.

Based on the team’s initial assessment, Jimenez incurred a negative fracture on her left ankle and will be out for at least six weeks.

Mary Joy Onofre scored nine points while Ciemelle Wanta and Donki Dahab turned in six markers apiece for the Lady Pirates, who joined the Far Eastern University Lady Tams, the

Technological Institute of the Philippines Lady Engineers in the 0-1 group.

The reigning National Collegiate Athletic Association champions Lady Chiefs also dominated Technological Institute of the Phl Lady Engineers, 25-12, 25-7, 25-13, with Regine Arocha and Necole Ebuen leading their attack with 10 points each.

Playmaker Princess Verutiao produced 11 excellent sets and put in six points, including four aces while Charmina Dino added five markers and Joy Batindaan, Mika Juanich and Carla Donato chipped in four points apiece to underscore the Lady Chiefs’ balanced scoring.

Khem Constantino had five points, six excellent digs and 11 receptions but failed to draw support from the rest, particularly in the second set that saw the Lady Chiefs hold them to a measly seven-hit output.

Perpetual Help, on the other hand, needed an extra set to foil San Sebastian, 25-14, 25-22, 22-25, 25-17, to gain a share of the Pool A lead with Adamson and Ateneo.

Charina Scott fired 13 points while Jhona Rosal added 11 points for the Lady Altas while Bianca Ordona and Reyann Canete combined for

Castro, PHL golfers bag golds in Indonesia

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LUIS CASTRO (center) holds his huge trophy as he poses with Sean Ramos (left) and Gab Manotoc.

UIS CASTRO rode a fiery front side charge then closed out with a run of pars to card a second straight 71, capture the individual crown and power the Philippines to the team championship in the Indonesia Amateur Open 2019 at the Gading Raya Golf in Jawa Barat, West Java, last Friday.

Castro banked on his 5-under 67 to gain a share of the lead with Singapore’s Low Wee Jin halfway through the 72-hole championship then wrested control in the third round with that 71 and a 207 as Jin fumbled with a 75-211.

Justin Kuk, also of Singapore, took the challenger’s role at 210 with a 71 but failed to match Castro’s hot start of three birdies in the first eight holes in the final round, enabling the Filipino shotmaker to coast to victory at 278.

Lucius Toh recovered from 72-71 start with a third round 69 but ran out of holes in a desperate bid to chase Castro. He wound with a 68 and finished tied for second with Jin, who rallied with a 69, at 280.

Metrobank holds 6th Cebu golfest M

METROBANK celebrates “Meaningful Banking” with its highly anticipated and well-attended golf series.

25 hits for the Lady Stags.

Saint Benilde pulled off a shock 28-26, 25-22, 25-17 victory over FEU, while Ateneo and Adamson University also hurdled their respective rivals for an early share of the lead on Saturday.

Klarisa Abriam unleashed a 10-kill game and came through with three kill blocks and 11 excellent digs while Chelsea Umali fired 10 points as the Lady Blazers outhit the Lady Tamaraws, 39-29, and beat their rivals off the blocks, 6-3, to complete the win in 88 minutes in Pool B action.

FEU drew a combined 21-point output from France Ronquillo and Czarina Carandang but the Lady Tams failed to recover from their sorry setback in the extended first set and struggled in the next two.

Former National University star Faith Nisperos debuted for Ateneo with a game-high 19 points although the Lady Eagles needed an extra set to subdue the Letran side, 25-16, 22-25, 25-13, 25-20, while the Lady Falcons dominated the San Beda Red Lionesses, 25-18, 25-22, 2516, both in Pool A. Nisperos, a four-time UAAP high school champion and two-time MVP, blasted in 17 spikes and hit two aces for the Lady Eagles.

Sean Ramos, priming up for the 30th Southeast Asian Games in December, shot the best score in the final round with a 67 and salvaged joint sixth at 285 with Japanese Yuto Watanabe (68) and local bet Alfred Sitohang (73) with Malaysia’s Adam Arif Bin Madzri taking fourth place at 281 after a 69 and Kuk settling for fifth at 283 after a 73.

With Gab Manotoc pooling a 292 after a 71 for joint 13th, the Philippines, whose campaign was sanctioned and supported by the National Golf Association of the Philippines (NGAP), also ran away with the team championship with a 561 total, beating Singapore by two in the three-toplay, two-to-count format event.

“We are so happy and proud of our team’s awesome performance,” NGAP Secretary-General Bones Floro said.

“Certainly, this reinforces our bid for the gold at the SEA Games.”

Manotoc opened with a 71 and counted with Castro (69) in the first round for a 140.

ETROBANK held recently its Sixth Annual Metrobank Golf Tournament for Cebu clients at the Cebu Country Club.

In a continuous effort to promote recreational gatherings for the bank’s esteemed partners in the Queen City of the South, Metrobank held the sixth edition of its highly anticipated and well-attended golf series.

The event was made more special as the bank recently launched its latest branding campaign, Meaningful Banking, to reiterate its commitment of delivering not just meaningful service but also delightful experiences.

Metrobank awarded the grand champion of Class A with luxurious Anantara Hotel and Resorts in Phuket, Thailand, vacation package.

As one of the leading universal banks in the country, Metrobank has a meaningful partnership with Japanese businesses and key industry players. Particularly in

Samonte’s big role

DURING the 2018 summer leagues and the start of the University Athletic Association of the Philippines (UAAP) Season 81 Women’s Volleyball tournament, Ateneo Lady Eagle Jules Samonte found herself coming off the bench. Rookie Vanessa Gandler had given a good account of herself but as the UAAP tournament got underway, she faltered—perhaps because it was a higher stakes competition.

Samonte returned to the starting lineup and played well. Ultimately playing a key role in her team’s drive to the championship.

Four months later, Samonte has found herself as one of the few remaining veterans on the team as four teammates have graduated with another one injured. And just like the previous campaign, Jules Samonte is going to play a crucial role in how far the Lady Eagles go.

This batch of Lady Eagles looks almost completely different. The other holdovers from the title team didn’t play too much and if you were to ask Head Coach Oliver Almadro, it’s still like having a rookie team.

The first match of the Premier Volleyball League Open Tournament saw Ateneo take on Letran. Although not highly regarded like National Collegiate Athletic Association of the Philippines (NCAA) powers College of St. Benilde, Arellano University, Perpetual Help, San Beda, or even San Sebastian, the match against Letran was still a good test for Almadro’s team.

The Lady Eagles didn’t start out like a house on fire. In fact, they struggled to get their offense going. It was only as the set wore on did they find their groove; a sign of a young team, learning to play together and in a pressure situation.

Much of the offense looks to come from rookie Faith Nisperos, sophomores Erika Raagas and Gandler, and veteran Ponggay Gaston when she suits up (she was unavailable for the Letran game as she was indisposed). Samonte, now team captain, will be counted to score, defend and lead her team.

In fact, the running spike that was a devastating weapon for former and graduated teammate Maddie Madayag is now hers.

Jules finished with only eight points but what was apparent was the leadership she displayed. She guided her teammates on their spots on the floor and when they committed a mistake, was quick to come over to offer an encouraging word or two.

On the bench or during timeouts, after Almadro was done issuing instructions. It was Samonte’s turn to talk to her teammates.

Jules draws from the frustrations of the previous years, as well as the championship season to guide her, “I will never forget the feeling of winning the championship,” she confided. “The feeling is indescribable. After we won, I let out a big sigh of relief because all of our hard work and sacrifices ultimately paid off.”

“Dani [Ravena], Ponggay, and I are the eldest on the team and we do talk about what we want for the team,” added Samonte. “Being team captain gave a lot of pressure but I accepted my role.”

Accepting one’s role is one crucial bit of advice imparted to her by Madayag and Bea de Leon who were the team’s previous captains.

“Any success is about accepting those rules and doing what you can to help the team in any way.”

The four-set win over Letran may have been a good start for this season for the Ateneo Lady Eagles, but the entire team knows there is much work to be done.

“It is easy to say that our rookies and sophomores will help, but how far we go will also depend on how our veterans will lead the team,” shared Almadro. “But I have confidence in Jules and the others. They now know what it takes to win.”

Cebu City, Metrobank strives to fortify and grow its partnerships via its regional Japan Desk, supported by a team of Japanese consultants.

The Cebu-based facility, strongly backed by the head office in Manila, further helps their clients to conduct their local operations and expansions with ease.

“Anchored on our promise to foster and provide Meaningful Banking, we aim to move, change and grow together with our Japanese clients here in Cebu. We will support them in every step of the way, as they scale up their businesses. This golf tournament is just one way we demonstrate this commitment outside the usual banking solutions” Metrobank Corporate Banking Group Head Anthony Ocampo said.

Since 1996, Metrobank has been developing alliances with businesses from Japan, including the Japan Bank for International Cooperation, Japan Finance Corp. and 65 other major Japanese financial institutions.

By Luis Andres Henao

L

The Associated Press

IMA, Peru—Olympic swimmer Renzo Tjon-a-Joe from Suriname says his “love affair” with Peruvian cuisine began during his recent trip to the capital of Lima for the Pan American Games.

Days after eating at “Central,” the selfproclaimed foodie still savored the journey of flavors—from the ocean, the Andean highlands and the jungles of the Amazon— at the restaurant in Peru’s capital that is ranked at No. 6 on the annual list of The World’s 50 Best Restaurants.

“Peruvian food is the best in the world.

Don’t get me started, I can talk for hours,” said Tjon-a-Joe, a student at Harvard University who has qualified for Tokyo 2020, and who’s on a quest to visit restaurants on the San Pellegrino list and the Michelin Guide.

Peruvian food was unquestionably the star at the recent Pan Am Games.

Athletes from 41 countries across the Americas tasted the highly regarded cuisine that blends indigenous traditions with European, African and Asian influences with an abundance of seafood from the Pacific Ocean’s cold Humboldt current.

“I had a lot of great food. Just blowyour-mind kind of food,” Tjon-a-Joe said outside the athletes’ village. “I walked away with the feeling that I had tried out something out of this world. Like my taste buds were about to explode.”

Sitting across from him, Mexican swimmer Sofia Revilak nodded. She tasted toro tuna and other bite-sized plates at “Maido,”a Nikkei, or Peruvian-Japanese fusion restaurant that’s ranked No. 10 in the world. But she couldn’t get enough of cebiche, the raw fish ‘cooked’ in lime juice that is Peru’s national dish.

“Mexico and Peru have a lot of dishes to be proud of,” said the graduate of Notre Dame. “But I’m a big fan of cebiche. And I have to say that there’s nothing like Peruvian cebiche in the world.”

Other popular dishes at the Pan Am athletes’ village and beyond included aji de gallina, deboned chicken drizzled with creamy chili sauce; lomo saltado, Peru’s classic beef and tomato stirfry; and quinoa, the Andean “superfood.”

“It’s amazing!” Shannon Nishi from Hawaii said after she tried lomo saltado for the first time. Nishi won the Pan Am Games gold medal in the 50-kilogram karate kumite class in the games that ended August 11.

The scene there was repeated at every table: Brazil’s men’s handball team chowed on cebiche before a match; Panama’s golf team put its clubs aside to taste lomo saltado.

Others went for chancho al cilindro, pork slowly roasted on an oil drum with coal, or the Chinese-Peruvian chaufa fried rice. Some were less adventurous.

“We’ve been eating pizza and burgers. We haven’t had any of the traditional Peruvian food except what’s in the dining room,” Renee Hildebrand, the coach of the US inline speed skating team said about the huge dining hall that was about the size of one and a half soccer fields. “Maybe we’ll get out there and check it out because it looks great.”

Peruvian cuisine blends rich indigenous traditions and Spanish cooking that dates to the conquest in 1532, but that also includes North African influences from nearly eight centuries of Moorish presence in the Iberian peninsula, according to the book The Arts of Peru, The Cuisine.” It also includes other, more recent fusions that bring out the best of its millenary ingredients.

“It’s the potato and the quinoa, the corn and the passion fruit, the sweet potato and the yucca. It’s the Spanish cuisine, which

ATHLETES ENAMORED WITH PERUVIAN FOOD

was also Middle Eastern....It’s the blend of Chinese, Japanese and Italian cuisines due to migrations,” said Teresina Muñoz-Najar, a journalist and author of cookbooks on Peruvian cuisine.

“It’s the biodiversity,” she said. “We have all the lands, all the climates, all the altitudes, and the Pacific Ocean, that’s mind-blowing.

Our regional cuisines and cooks are creative and passionate. We have confidence. But above all, we have flavor.”

The flavor was always there, but for long, that confidence seemed to be lacking. Gaston Acurio, the nation’s wildly popular leading chef, has said that Peruvians perhaps felt that nobody would like their food, even when it was delicious. But he was full of confidence, and for long, he’s been widely credited with changing the global status of Peruvian cuisine.

After leading television shows that showcased the country’s cooking and authoring respected books, Acurio’s culinary empire spread with high-end eateries Astrid & Gaston in countries like Colombia, Chile and Spain, and the more casual La Mar in Buenos Aires, Miami, Mexico City and San Francisco.

In the food-crazed capital of Peru, people these days line up late at night to taste grilled cow heart kebabs known as anticuchos; or causa Limena, the Limenian potato salad; and a seemingly endless list of soups, entrees and desserts that have made Lima the proud culinary capital of Latin America.

“Gaston began to spread our gastronomy by traveling to every corner of the country. We owe him a lot,” said MuñozNajar. “He’s the true driving force behind Peruvian cuisine. Now, we see it without any insecurities...we’re proud of what we eat in the sierra [the mountains], the jungle or the coast. We recognize each other as Peruvians through our cuisine.”

Miocic stops Cormier, regains heavyweight crown at UFC 241

A

NAHEIM, California—Stipe Miocic waited over a year to face Daniel Cormier again, and his plan for the rematch didn’t start to work until they were deep in the fourth round.

That’s when the patient, determined firefighter from Cleveland finally got his revenge—and suddenly reclaimed his UFC heavyweight title.

Miocic stopped Cormier with a barrage of punches in the fourth, taking back his championship belt with a comeback victory at UFC 241 on Saturday night.

Miocic (19-3) lost the first two rounds on every judge’s scorecard in his rematch with the 40-yearold Cormier (22-2). After making some progress in the third, Miocic steadily came forward through Cormier’s blows in the fourth and finally hurt the champion with a punch to the body.

Miocic then landed several powerhouse right hands to Cormier’s head, buckling his knees and eventually forcing referee Herb Dean to stop the fight with 51 seconds left in the fourth round.

The 6-foot-5 behemoth leaped onto the wall of the cage and celebrated with fans still stunned by the fight’s sudden turn.

“I saw some weakness in that third round,” Miocic said. “And then in that fourth round, I caught him with that right hand. Thank God, because he’s tough.”

Nate Diaz also returned from a three-year hiatus with a dominant decision victory over Anthony Pettis at Honda Center, but he was upstaged by the remarkable redemption of Miocic.

Miocic reigned as the UFC’s heavyweight champion for 26 months, and he defended his belt a UFC-record three consecutive times before

Sports BusinessMirror

Cormier dethroned him in July 2018 with a first-round stoppage victory. Despite Cormier’s decisive victory, Miocic campaigned for a rematch and eventually received it when Cormier said he “deserved it.”

Cormier’s quick hands were the difference early in the rematch. The 5-foot-11 Cormier also picked up his much larger opponent and slammed him onto the canvas during the first round, showing off the elite athleticism lurking in his dad bod.

Miocic landed plenty of shots, but Cormier’s blows were more frequent and more impactful—although not much makes an impact on the hulking Miocic. The fight turned quickly and decisively when Miocic finally hurt Cormier, who couldn’t recover.

Cormier didn’t announce his retirement in the cage afterward, but the former two-belt champion planned to think seriously about quitting MMA after this fight, no matter its outcome. The former Olympic-level wrestler had always planned to get out of the sport before he turned 40, but Cormier pushed his deadline by five months after surgery prevented him from fighting last March.

Right before Miocic’s win, the 34-year-old Diaz (20-11) cemented his wild popularity with an impressive performance in his first fight since he split a pair of bouts with Conor McGregor in 2016.

Diaz punished Pettis (22-9) in standup striking and on the ground, winning 30-27 on two judges’ scorecards and 29-28 on the third. Fighting through a serious cut near his eye, Diaz repeatedly hurt the former lightweight champion and nearly got a finish several times in the third. AP

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| Monday, August 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THIAGUS PETRUS, a member of the Brazilian handball team, takes a break from eating ceviche at the international center outside the athletes’ village as Chef Edwin Guzman of the Estilo y Sabor catering house cooks chancho al cilindro, or pork roasted in an oil drum during the recent Pan Am Games in Lima. AP

Zimbabwe commission asks Fifa to fire federation bosses

H

ARARE, Zimbabwe— Zimbabwe’s governmentrun sports commission said it has asked Fifa to remove officials in charge of the country’s soccer federation from office and appoint a temporary committee.

The Sports and Recreation Commission (SRC), which regulates sport in Zimbabwe, wants the Zimbabwe Football Association (ZIFA) run by a normalization committee until new elections can be held.

The SRC didn’t give a reason for the request but it followed a series of dramatic moves by ZIFA in the last week. ZIFA disbanded the entire national team and banned for life its former president, who is currently

the head of southern African soccer, for alleged misconduct.

ZIFA said former President Phillip Chiyangwa was banned for submitting an ultimately failed bid for Zimbabwe to host this year’s southern African championship without approval from the government or ZIFA board. ZIFA also accused Chiyangwa of playing a role in unsettling the national team, which threatened to go on strike ahead of the opening game of the African Cup of Nations in Egypt in June.

Chiyangwa lost an election to lead ZIFA last year but remains president of the Council of Southern African Football Associations.

He emerged as a power broker in African soccer in 2017 when he ran the successful election campaign for current African confederation boss and Fifa Vice President Ahmad.

Ahmad surprisingly beat longtime Confederation of African Football President Issa Hayatou in that election and Chiyangwa’s profile rose further when Fifa President Gianni Infantino attended his birthday party in Zimbabwe.

The SRC has recently taken action against other sports bodies in Zimbabwe. It removed the Zimbabwe cricket board from office in June alleging corruption and election irregularities, leading to the country being banned

from international competitions by the International Cricket Council because of government interference.

The SRC appears to have learned from that by asking Fifa to act, instead of removing the soccer federation leadership itself. Fifa also does not allow governments to interfere in the running of national federations.

The SRC is a body that operates under the sports ministry. Former Olympic swimmer Kirsty Coventry is Zimbabwe’s sports minister. AP

ZIMBABWE players applaud their fans after their Group A soccer match against Uganda at the Africa Cup of Nations at the Cairo International Stadium in Cairo last June. AP

S

Saving God

AVING God, You lift our spirits, bring a sparkle to our eyes, and give us life and blessing. For such great love we praise You and pray: God of blessing, hear our prayer. Refresh Your Church by the wisdom and work of Pope Francis, the Jesuits, the Ignatian spirituality and the Christian Brothers. Instill in all human beings a greater concern for the Earth and awareness of the limits of her resources. Guide the discernment of those who are making life decisions. May the grace of the Lord Jesus Christ, the love of God, and the communion of the Holy Spirit be with us and remain with us forever. Amen.

GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL

Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

EDDIE BADDEO with Owen Rebosano, Ava Abejar and Krystal Espiritu at Breast Cancer Awareness show 2010

AND THEN SOME: FINALLY, A FOUNDATION WITH SKIN-CARE INGREDIENTS D4

Monday, August 19, 2019 D1

EDDIE BADDEO with Charisse Ocrisma, Marina Benipayo, Owen Rebosano and Jeng Cuyugan 2010 HENRY ANIMA II

Eddie Baddeo: A fond farewell EDWARD DE LA CUESTA

TOTA PULCHRA

MISS CHARLIZE @misscharlize

Jun-Jun Cambe to Rocky Gathercole to every fashion student doing unconventional clothes.

“He was the bad boy of Philippine fashion because of his out-thebox designs,” Gathercole gushed in a tribute post. To which designer Ronaldo Arnaldo added: “And he evolved to be one of the best and the most sought-after fashion designers in Manila! His body of work exudes maturity and high-quality glamor and sophistication! Truly one of the best fashion designers in the country! Eddie will surely be missed!”

Feisty, beautiful and feminine, Eddie blazed the trail for transgender designers in the industry. He didn’t mind being addressed as a “he” or a “she,” but would be infuriated if he was referred to as a “Mister” or “Sir.” He was not a social justice warrior who ferociously fought against discrimination, but just by living his own truth, he inspired a younger generation of designers and LGBTs to love themselves more.

Lucky in love

THE last sketch of Eddie Baddeo

F

IGHT till your last breath. God is with us!” Eddie Baddeo— designer extraordinaire, enfant terrible, bad boy of Philippine fashion—lived and died with this mantra when he succumbed to colorectal cancer on August 16, after spending almost two weeks in the hospital.

“We wondered what Eddie was holding on to,” said his lifetime partner, Edgar Medina. “Then we realized that he waited for August 16 to come because that’s the 33rd anniversary of him becoming a designer.”

Eddie was one of my early champions. He was already a huge name in fashion when I started writing for the defunct Today newspaper. For him to have been patient, accommodating and generous to a newbie, when he was already a darling of the lifestyle editors, is something I’m eternally grateful.

The cliche “parang natutulog lang” is true in Eddie’s case as he lays in his immaculate coffin. He is dressed in a red canvas linen suit, an ensemble he was supposed to wear to an event he never got to attend. As Eddie could no longer speak days before he died, he asked for his sketch of the suit and drew the ostrich feathers around the neckline and cuffs, expressing his desire for the details to be added for that Eddie Baddeo flair.

Rebel, avant-garde, trailblazer

EDDIE, 57, came from a kindred line of designers who rebelled against the Establishment. From Paco Rabanne, the local lineage stretches from

TO an extent, Edgar Medina is the Pierre Bergé to Eddie’s YSL, a business-personal relationship that has lasted an enviable 32 years. Eddie can be temperamental and moody, but Edgar was a calming, steady counterpoint.

Before and during Eddie’s 13-day stay at the Lung Center, Edgar was a solid presence, making sure that he’d only cry when a deteriorating Eddie wasn’t aware of it. When Eddie said, “Di na yata ako aabot sa birthday ko [December 19],” Edgar pretended he didn’t hear it. And when Eddie asked, “Mamamatay na ba ako?” Edgar, as Eddie’s greatest love, couldn’t keep his heart from bursting.

From supermodels to society women

“MODELO ka, you’re a living hanger, a live mannequin, ‘[‘yan] ang nagbibigay buhay sa mga creations ng mga designers,’ ‘yan ang sabi mo sa akin nung nag-start ako, Tita Eddie Baddeo,” wrote Maricris Perez, the Christy Turlington of the Philippines who was nurtured by Eddie when she was a neophyte model. “Thank you for making me your muse. Ang dami natin kwento. You have a very special place in my heart. Sobrang mami-miss kita. Magkakasama na kayo ni Purple [Eddie’s 15-year-old dog]. [You’re] one big loss in the fashion industry.”

Eddie was known—and sometimes resented—for getting the top models to exclusively walk for him at group shows, such as at Fashion Watch, Philippine Fashion Week, Ben Farrales’ Flores de Mayo and the Quezon City designers’ galas. The models readily agree, because Eddie pampers them and pays exorbitant fees.

Male model-turned-photographer Bong Regala stated: “I will always remember Eddie Baddeo, who valued the worth of a model!

Whenever he gets a model for a pictorial and runway, he makes sure his models are taken care of physically and financially kahit gumastos ‘yan ng makeup artist! And food! Kailangan ma-i-project ng model nang maayos at maganda ang pinaghirapan n’yang damit! He will always pay models

fairly! And extravagantly!”

Eddie considered Melanie Marquez the greatest Filipina model of all time. But it’s Marina Benipayo who was his favorite supermodel to work with.

“Eddie and I first met in 1988 right after I won in the Bodyshots contest and did a cover shoot for a magazine [I think it was Chic].

From then on, he would hire me as his finale model for most of his gala shows,” a grateful Marina remembered. “I had semiretired from modeling in the mid-1990s but he told me I couldn’t retire yet—and continued to get me for shows. That was how much Eddie believed in me. Never pretentious, Eddie saw life in a positive light. Rest now in God’s loving arms, Eddie, we will miss you.”

In recent years, Eddie toned down on his penchant for models and spectacular fashion shoots and focused on his other muses—the society women who are tireless fund-raisers for charities. The stylish philanthropists he would dress for high-society affairs, such as the Philippine Cancer Society’s Philippines Best Dressed Awards and Manila’s Best Dressed Awards were Elaine Villar, Dr. Elsie Pascua, jeweler Mila Imson and restaurateur Rose Tolentino Santiago.

Entrepreneur Marcott Almeda was one of Eddie’s closest clients: “I met Shawie—or Sisterhood, that’s how I call him—at Powerflex gym and from there we clicked. I watched his fashion shows if I had time. We became really close when he made my Filipiniana gown for the Phil-Hong Kong Association of the Philippines’s Independence Ball in Hong Kong, and when I was an awardee for the Best Dressed Women of the Philippines 2011. By then, I was known as one of the Baddeo muses. As a designer, he liked unique clothes, to experiment and with drama, that’s why he is called the bad boy of Philippine fashion. As a friend, he was very generous, loving and caring.”

The fashion trend that needs to die IN the past four years, some fashion luminaries have died in quick succession: Gerry Katigbak, Pepsi Herrera, Danilo Franco, Pitoy Moreno, Cesar Gaupo, James Reyes, and young photographers and stylists. The industry is deflated; this disturbing trend has to stop.

Come September 13 and 14, acclaimed Filipiniana designers will gather at the Cultural Center of the Philippines for a gala to celebrate the book launch of Obra Maestra: A Portrait of Excellence in Philippine Fashion and Culture by Zardo Austria.

This is an event that Eddie, one of the featured designers, was looking forward to. The proceeds of the ticket sales for the show and the book will benefit the Duyog Marawi of Bishop Edwin de la Peña and the construction of the monastery and chapel of the Benedictine Sisters in Mexico, Pampanga.

Putting the F-U-N in funeral EDDIE BADDEO had this idea during his mother’s funeral about two decades ago. “What if I do a fashion show where models would walk around a casket, pause—and pose!—while viewing the dead, then walk away to exit?” He mused. “They’ll be wearing all-black couture, of course!”

That concept actually happened a few years after, during the Spring/Summer 2001 show by cult brand Imitation of Christ held at a New York City funeral parlor. Thom Browne has also had his models rise from a coffin, resurrected by their love for fashion, in a show in February 2012.

Eddie will be cremated tomorrow, as per his last request. So, tonight, model Ava Abejar will lead a group of models to sashay around Chapel 12 of Arlington Memorial Homes wearing Baddeo couture creations as a fitting send-off to a fashion icon. It’s a glorious, dramatic and staggering way to say goodbye. Very extra. So Eddie Baddeo.

A parade of alluring styles WITH every new turn of the season, a woman gets reenergized as this means a wonderful change in wardrobe, too. And this speaks of exciting times, as well, for artist-designers like Tadashi Shoji who gain immense inspiration and are excited by the challenge of weaving new textures and colors to paint a new palette for the season.

A renowned global designer, Tadashi is a true style purveyor who sees himself designing for the new, dynamic woman. He embraces a woman’s curves and gives her the confidence to shine in the spotlight wherever she may be with beautiful, whimsical pieces that celebrate her femininity. From the fashion runways of London and Paris, to the red carpets of Philippine society’s most celebrated affairs, Tadashi’s signature of opulence is intact and sought after.

Found in his latest collection, Tadashi once again mesmerized with his expert manipulation of textures—flowing chiffon dresses with luxurious princess capes, meticulous beaded work painstakingly crafted by hand, dramatic draped dresses in sensual shades, and much, much more. Each piece is a work of art and a romantic, mystical interpretation of beauty found beyond the stars.

Always encouraging women to gaze skyward, Tadashi Shoji is exclusively available in Rustan’s Makati, Rustan’s Shangri-La, Rustan’s Gateway and Rustan’s Cebu.

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Monday, August 19, 2019

Style

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www.businessmirror.com.ph

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The Age of Aquaria

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Christina Perri, 33; Matthew Perry, 50; John Stamos, 56; Bill Clinton, 73.

HAPPY BIRTHDAY: Make long-term personal plans that will help you prepare for the future. Aim to stabilize your financial situation, update contracts and set up a routine that will encourage good health. Settle any pending problems so you can move forward with the freedom necessary to give your all to the goals you want to achieve. Personal gains are within reach. Your lucky numbers are 6, 17, 23, 26, 36, 40, 46.

a

ARIES (March 21-April 19): Do your own thing.

Trust in what you know and the skills you have mastered to help you get ahead. Trying to get a free ride or investing in someone else’s plan won’t help you reach your goal. Personal growth is favored. «««

b

TAURUS (April 20-May 20): Make necessary changes. If you are too quick to make a move, you’ll end up wishing you hadn’t. Someone will take advantage of you if you are looking for a shortcut.

Discipline and moderation will prevent loss. «««

c

GEMINI (May 21-June 20): Look for the good in everyone and everything, but don’t be gullible if someone tries to take advantage of you.

Offer wisdom to get what you want. An opportunity will encourage personal improvements. Romance is on the rise. ««««

d

CANCER (June 21-July 22): Be a friendly observer. Don’t make a fuss or let your emotions interfere with what you need to accomplish.

Diplomacy will be a much better approach if you want to get your way. Let others come to you. ««

W

HAT a time for fashion! The Age of Aquaria has hit the Philippines, thanks to The SM Store’s latest campaign featuring New York drag queen Aquaria. This is all about self-expression through fashion, regardless of who you are, whatever style you go for can be found at The SM Store.

Aquaria seems to love making history herself, so let us give you all the tea on the fashion queen: She was first launched into the limelight when she won Rupaul’s Drag Race, making her the youngest queen to snatch the crown. The 23-year-old instantaneously made waves post-Drag Race.

Aquaria has appeared in global campaigns for Moschino and MAC Viva Glam, collaborated with designer Jeremy Scott, and makeup brand Nyx. She has also graced the cover of prestigious titles Vogue Italia, Gay Times and Paper Magazine. Earlier this year, she also made headlines as she was the first-ever drag queen to walk the carpet in the MET Gala; she even sat on the table with Vogue’s Anna Wintour.

In drag and ballroom culture, there are several look categories, and for this, the category is: SM Fashion Realness Meets Overly Accessorized Fashion Queen.

Aquaria’s catchphrase is “turning looks, stunting pretty,” and she makes sure to always serve “stunning lewks.” She was hands-on in the styling process, even personally selecting the merchandise for this shoot.

Main highlights are SM Shoes and Bags, and SM Accessories from The SM Store as the queen piles them on while in full fashion drag.

e

LEO (July 23-Aug. 22): Take your time and adjust to changes with a positive attitude.

You have plenty to gain if you are open to suggestions and implement what you want to happen.

Protect your reputation, position and personal finances. «««««

f

VIRGO (Aug. 23-Sept. 22): Put your plans into motion. The changes you bring about will have long-term effects that will improve your life. Stop letting others take advantage of you, and start living life your way. Moderation and minimalism are encouraged. «««

g

LIBRA (Sept. 23-Oct. 22): Reconnect with people who have been there for you. The suggestions made will help you deal with a situation that needs addressing at home or with a joint venture you are questioning. Romance is on the rise. «««

h

SCORPIO (Oct. 23-Nov. 21): Let experience be your guide. Don’t give in to persuasive people who are using emotional tactics to convince you to make changes that aren’t necessary or to your benefit. Stick to what and who you know and trust. «««

Bro bling: Tiffany introduces men’s jewelry collection i

By Anne D’Innocenzio The Associated Press

PART of the jewelry collection for men

by Tiffany & Co.

NEW YORK—Tiffany & Co. is launching its first comprehensive jewelry collection for men in October as it seeks to diversify its traditional customer base.

The line, announced Thursday, is part of

Tiffany’s strategy to attract younger shoppers and pump up sales, which have been dampened by a decline in spending by tourists from China and elsewhere.

Tiffany has sold money clips, cuff links, rings and other traditional jewelry for men. Now it’s seeking to put a more modern spin on what it offers to men.

The new men’s collection includes nearly 100 designs ranging in price from about $200 to $15,000 for jewelry.

It will also begin selling home furnishings and accessories like cocktail shakers, ice tongs and beer mugs, with men in mind.

The new line of goods will get its own floor space in Tiffany’s 300 stores, rather than being sold side-by-side with other items, said Reed Krakoff, the company’s chief artistic director, who developed the collection.

High-end jewelry is popping up on men’s fashion runways at Gucci and other big luxury brands, said Robert Burke, an independent fashion consultant. He also pointed to the

influential Dover Street Market stores in London, Tokyo and New York, which are highlighting men’s jewelry. Saks Fifth Avenue’s New York flagship this fall is also opening a jewelry area called The Vault that will showcase high-end men’s watches.

Global sales of men’s fine jewelry reached $5.8 billion last year, up 23 percent from 2013, according to Euromonitor International, a market research company. That’s still dwarfed by women’s fine jewelry, which reached $33.2 billion in sales, up 14 percent from in 2013, according to Euromonitor.

“Men all over the world are wearing jewelry and more accessories as part of a wardrobe,” said Krakoff in an interview with The Associated Press.

“You started to see it on the runways, in social media.”

Krakoff said that the men’s business hasn’t been a big focus at Tiffany, but there’s a big opportunity given that half of the company’s global customers are men. The vast majority of them buy women’s jewelry, he says.

“We have a captive audience,” he said.

SAGITTARIUS (Nov. 22-Dec. 21): Make whatever changes are required to improve your standard of living or emotional comfort.

Anger won’t solve anything, but speaking up and taking responsibility for your life and how you want to live will.

Romance will improve your state of mind. «««««

j

CAPRICORN (Dec. 22-Jan. 19): Stifle any emotions that interfere with your accomplishments.

Stay focused until you have physically put the changes in place that will make you feel less stressed and more in control of your life. Protect your assets and your reputation. ««

k

AQUARIUS (Jan. 20-Feb. 18): Listen to your heart, and make adjustments that will make you happy. Nurture meaningful relationships, and take physical action if it will help ward off a situation that has been hanging over your head. Personal improvement will lift your spirits. ««««

l

PISCES (Feb. 19-March 20): It’s up to you to make an adjustment if you aren’t happy.

Revisiting what’s happened in the past and the dreams you once had will help you put your life in perspective and your goals into play. ««« BIRTHDAY BABY: You are poised, astute and helpful. You are diligent and persuasive.

‘holding together’ BY EVAN KALISH The Universal Crossword/Edited by David Steinberg

ACROSS 1 Plant stalk 5 Vader or Maul 10 Nothing special 14 Top point 15 City about an hour from Lincoln 16 “Come in, we’re ___” 17 Government report 19 Soft projectile brand 20 Signify 21 NYC bus operator 23 Albert Pujols stat 24 Voice-activated assistant 25 Spaghetti’s thinner relative 28 Massive amount 29 Winter Olympics racers 31 Smidgens 32 Nuisances in a trash bin 34 Do a bank heist, e.g.

35 Missing class 36 Leave without words 39 Low-wage positions, slangily 42 Pasture 43 Hubbubs 47 Star Trek role for Zoe Saldana

8 Coastal expanses 4 50 “That’s ___ way to do it” 51 Difficult-to-trace funds 53 Peace Prize winner Sadat 55 Prohibiting booze 56 High card, often 57 It borders (and rhymes with) Rwanda 58 Cooking fat 60 Newscaster’s video introduction, or a hint to the ends of 17-, 25-, 36- and 51-Across 63 Falco of The Sopranos 64 Publication such as Slate 65 Web site’s main page 66 Company behind a ring-gathering hedgehog 67 Seized cars, briefly 68 Has to pay back DOWN 1 Figures ready for analysis 2 Organizational tier 3 Renowned 4 Rehab process 5 Inside info 6 Doctor’s org.

7 Genre for Cardi B or LL Cool J 8 Booker T.’s backup 9 The Outcasts of Poker Flat writer Bret 10 Certain heir 11 Run, as a machine 12 Belgrade native 13 Like a single person?

18 And others: Abbr.

22 “I couldn’t have done that” excuse 25 Visibly excited 26 Cosmic clouds 27 Book before Joel 30 Vessels on mantels 33 Birth announcement bird 35 Somewhat 37 Former first lady Michelle 38 “___, meeny, miney, mo...”

39 Makes confusing 40 Utter farce 41 MacGyver a contraption, say 44 Follow-up to “Up top!”

45 Quick way to stop or turn 46 Colorful Mexican shawls 48 Elicit a “gesundheit”

9 Epic tale 4 52 Brownish-yellow tone 54 Cheesy chip 57 Applications 59 Org. that busts narcotics rings 61 Jeans problem 62 Ambient music pioneer Brian

Solution to Friday’s puzzle:

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Monday, August 19, 2019

World’s most desirable men are in Manila ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

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HERE are four more days before the finals and not every one of the previously announced 88 expected candidates are in Manila for the ninth edition of Mister World, an offshoot of pageantry icon Julia Morley’s Miss World beauty pageant.

As of this writing, only 73 candidates are in town for this pageant, which will end with the crowning of the world’s most desirable man on August 23 at the Smart Araneta Coliseum.

Mister World was founded in 1996 by the Miss World Organization and Belgium was the first winner of what is supposed to be a biennial pageant for men. To date, the contest has produced nine winners, the last one coming from India. Past winners include Denmark, Colombia, Ireland, Spain, Brazil, Uruguay and Venezuela.

India’s Rohit Khandelwal is flying in to pass on his crown to the next Mister World. The reigning Miss World Vanessa Ponce de Leon of Mexico is also in town.

She is reported to be included in the panel of judges who will decide on the

winner this Friday.

“I am very excited to see who would rise above the rest. I have met most of them already very casually. I can tell you that these guys have amazing talents.

They are very well-educated and they are all gathered in Manila to represent their people and their individual advocacies,” she told us.

The reigning Miss World added that she also wishes that Miss World would one day be held in the Philippines. “You are a very nice country with a very warm and beautiful people.”

South Africa’s Fezile Mkhize takes pride in being the first semifinalist after he won the sports competition recently.

Mister World has special activities that will determine the fast-track winners who will automatically be included in

the semifinal round of competitions.

The other automatic semifinalists will be the winners of the Extreme Challenge, Talent Showcase, Top Model and the Multimedia Star competitions.

Unlike the female beauty pageants where potential winners are being updated from day-to-day, there seems to be not much noise from male pageant fanatics this year. A few sites have come up with their own lists of favorites but these come only in trickles.

We met the candidates during a media presentation and we reckon that some Asian and Latin American candidates are surging forward to be noticed.

Whether we like it or not, the Philippines’s Jody Saliba will definitely be assured of a semifinals berth being

the host country. That’s how pageantry politics usually work. But he needs to be extremely lucky to be included among the Top 5 because he does not possess the right amount of masculine packaging that Mister World stands for. Thailand’s Anakin Nontiprasit and Mexico’s Brian Faugier consistently attract attention but both are are also too soft to be considered the world’s most desirable man.

Those who truly possess effortless masculinity and the very elusive X factor are Lebanon’s Jean Paul Bitar, Spain’s Daniel Torres, Brazil’s Carlos Franco, Malta’s Daryl Azzopardi, Italy’s Marco D’Elia, Ireland’s Wayne Walsh and Japan’s Kenta Nagai. And we hope they all fare very well in the finals.

Sibling rivalries, warring heiresses on ‘Prima Donnas’ BEGINNING August 19, GMA unveils a heartwarming tale about family and love among siblings with the afternoon series Prima Donnas.

The original drama is headlined by one of the country’s best kontrabidas and excellent character actress Katrina Halili as Lilian Madreal; Wendell Ramos as Jaime Claveria; awardwinning actress Chanda Romero as Lady Primarosa Claveria; basketball legend and well-loved comedian Benjie Paras as Agaton; Elijah Alejo as Brianna; and one of the industry’s formidable and multiawarded actress Aiko Melendez as Kendra Fajardo.

Playing equally vital roles are three of GMA’s teen stars Jillian

Ward as Donna Marie, Althea Ablan as Donna Belle and Sofia Pablo as Donna Lyn. The highly talented Glaiza de Castro plays a special role as Maita Claveria, Jaime’s wife and the mother of the three Donnas.

Married couple Jaime (Wendell), the sole inheritor to the affluent Claveria Group of Cos. , and Maita (Glaiza) find it difficult to bear a child. The couple then hires Lilian (Katrina), the daughter of their most trusted house helper, to be the surrogate mother of their unborn offspring. Lilian accepts the proposal and later on gives birth to three beautiful girls: Donna Marie (Jillian), Donna Belle (Althea) and Donna Lyn (Sofia).

Life takes an unexpected turn

for the three Donnas when Kendra (Aiko), Lady Prima’s ambitious executive assistant who has been eyeing Jaime and the Claveria fortune, will stop at nothing to get a hold of all of Claveria’s wealth and Jaime’s affection at the expense of the three young heiresses.

Family secrets, grudging relatives, and an endless pursuit of their real identity—will the bond of the three Donnas remain strong amid the many challenges’ life throws at them?

Under the helm of esteemed director and actress Gina Alajar, the original series is headed by the SVP for Entertainment Group Lilybeth G. Rasonable. Prima Donnas premieres today, August 19, after Hanggang sa Dulo ng Buhay Ko.

THE cast of the new GMA afternoon series Prima Donnas

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Style

D4 Monday, August 19, 2019

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Finally, a foundation with skin-care ingredients AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

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HY do you wear foundation? I do it because I want a more even skin tone and some sort of barrier between my skin and the elements.

But admittedly, no matter how good a foundation is in terms of coverage and longevity, my skin needs to rest after a straight three to five days of wearing it. Sometimes, a foundation has flawless coverage but may have alcohol in the top 3 ingredients. Yes, my skin would look good with that foundation but it will seem dry and weary after a few days.

And I will be honest, I am not entirely convinced that those alphabet creams (BB and CC) have skin-care properties. The ingredients they contain might not be harmful to the skin but they’re not beneficial either.

Make Up For Ever is launching Reboot, a foundation that claims to contain ingredients that are good for the skin. They include ginseng, camellia japonica or tsubaki and mondo grass. The foundation claims to, among others, brighten, smooth, soothe, firm and even out the skin.

“Make Up For Ever realized that one of the things that people lack is sleep. Very few people get a full night’s sleep. Reboot is a foundation that energizes your skin,” said Lyra Prieto, brand general manager for Make Up For Ever in the Philippines.

“I like the coverage, which is light to medium and still buildable,” said makeup artist Leo Posadas, who conducted a makeup master class for members of the media, online content creators and makeup artists last week.

Posadas used a foundation brush to apply Reboot on model Mirtle after a serum (Ultra HD Skin Booster) and a primer (Radiant Primer).

During the master class, Posadas also shared many makeup tricks. These include: 1. Using three foundation colors, a different one for each area to achieve a multidimensional face.

2. Connect the nose line to the tip of the brows to make it look natural.

3. Dab a damp makeup sponge all over the face after setting the foundation with powder.

4. Spray the eyeshadow brush with Mist & Fix if you’re using eyeshadow with glitters and sparkle.

5. Spritz the new Mist & Fix all over the face after makeup application because the new formula makes makeup last for 12 hours.

MAKEUP artist Leo Posadas demonstrates how to use Reboot on model Mirtle

I gave Reboot a wear test for a day and I loved the coverage, which is really buildable. I used a flat foundation brush (also from Make Up For Ever) to apply it. The foundation will be available in the Philippines for P2,700 starting September 9.

I would describe the finish of the foundation as satin. It’s not dewy and it’s not matte either. It is buildable, yes, and indeed offers light to medium coverage. I wouldn’t say Reboot is for mature complexions. Maybe it’s designed for those with dry to normal skin.

Next month, Make Up For Ever Philippines holds makeup master classes with four of the country’s top makeup artist: Denise Ochoa, Jake Galvez, Mariah Santos and Jelly Eugenio. The master classes are scheduled on September 11 and 12. The tickets are available at Lazada.

Check out @makeupforeverphilippines on Instagram for more information about this.

Let your skin luxuriate in caviar HOW much would you pay for a luxurious beauty treatment?

If you’re looking for the best facials, Diana Stalder (www. dianastalder.com) offers intimate treatments that pack a punch, like the Ultimate Indulgence Caviar Luxury Facial.

The caviar facial provides a sumptuous and luxurious remedy that effectively prevents future signs of aging, such as fine lines and wrinkles. It contains abundant trace elements that deliver smoothness and elasticity to the skin, thus helping cell regeneration and tissue growth.

This two-hour facial features deep washing, toning with the use of serums to resurface the skin’s dewy youthful glow, and a dermalift treatment to maintain a firm, smooth and toned skin.

The facial promotes even skin tone by helping prevent discoloration. It also has a brightening effect.

The result? Firm, hydrated and illuminated skin. The

skin is left radiant and reenergized with an application of a suitable eye treatment, ampoule and moisturizer.

A good facial will make you feel pampered, leaving your skin looking and feeling better, but should also leave you feeling relaxed and refreshed.

BusinessMirror

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Monday, August 19, 2019 E1

Leading change in a company that’s historically poor at it

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WHY COMPANIES NEED A ‘PRICE VOCABULARY’

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Begin your next change effort with an apology for past failures, whether they are yours or not, and then use the steps above to avoid repeating them.

HE next time you visit a Costco, take a close look at the warehouse store’s price tags. They encode unique information. The endings of prices, such as .99 or .97, convey special meanings to the subset of shoppers who are literate in Costco’s “price vocabulary.”

For example, when a product’s price ends with .99, these shoppers know that they’re paying the regular price—that this isn’t a limited-time promotion. On the other hand, they know that prices ending with .97 only appear on clearance items that have been marked down. And there are other specific connotations for prices ending with .88 and .00.

A price vocabulary is a unique and consistent set of prices—particularly price endings, plus other symbols such as glyphs and colored sales tags—that a retailer can use to convey information to consumers.

In the words of a Costco employee, “It’s not really a code, more just a set of rules that we follow to track pricing and be consistent throughout the region.”

When planned and communicated to customers with care, a price vocabulary can deliver powerful marketing benefits. Here are three significant benefits that retailers should consider:

Ron Carucci is cofounder and managing partner at Navalent

n Price vocabularies create sustainable differentiation. A

By Ron Carucci

ODAY, managing continual disruption is a skill required of most leaders. Change management is the new management, which makes doing it effectively that much more difficult.

Acknowledge the pain of the past

TOO many leaders charge ahead, trying to inspire people without acknowledging the pain of the past. Without realizing it, they’re erasing the very real frustrations of their employees. The reality is that every organization has

some track record of failure.

That’s why it’s better to start with the assumption that people don’t trust your intentions or approach and are expecting you to fail, as well.

WWW.FREEPIK.COM

Change fatigue is one of the most common reasons for failure.

It typically occurs when multiple changes are implemented at once and fail simultaneously as a result. To rebuild resilience and win back confidence, leaders need to take three important steps at the outset of any initiative.

Ground your plan in evidence

KNOWING that past efforts have failed is helpful, but knowing why they failed can strengthen your credibility. Every organization does things to undermine change; figuring out what those are can help you avoid them.

It’s important to present your team with a detailed diagnosis of what has gone wrong in the

past, and why.

Regularly ask how your plan for change feels different from past efforts

IN order to avoid the failures of the past, you should ask people to tell you if and how your plan for

change feels different. Then use those insights to stay on track.

Your organization undoubtedly has weathered past failures, some of which may even have been yours. That’s all the more reason for you to take responsibility for, and learn from, them.

Using algorithms to understand TO WIN SUPPORT FOR YOUR the biases in your organization IDEA, THINK LIKE A MARKETER

By Jennifer M. Logg

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LGORITHMS have taken a lot of heat recently for producing biased decisions.

For example, people were outraged over an Amazon.com recruiting algorithm that overlooked female applicants.

Should we be alarmed by these biases? Yes, of course. But, ultimately, it’s the ways organizations respond to their own algorithms that will determine whether they make strides in de-biasing their decisions.

So far, the typical response when these biases surface is for the media to scapegoat the algorithm while the company reverts to human decision-making. But this is the wrong approach to addressing bias. Rather, organizations should use statistical algorithms for the magnifying glasses they are: Algorithms aggregate individual data points in order to unearth patterns that people have difficulty detecting on their own. When algorithms surface biases, companies should seize on these “failures” as

opportunities to learn when and how bias occurs. If they do, they’ll be better equipped to de-bias their practices and improve their overall decision-making.

When algorithms surface biases, companies learn about their past decision processes, what drives biases and which irrelevant information distracts the organization from useful information. Companies can apply this magnifying glass strategy to any important decision process that involves predictions, from hiring to promotions.

Leveraging algorithms as magnifying glasses can also save organizations time. For instance, if a department hires two people each year, it may take a while before the organization realizes that this department of 10 consistently only includes one woman. An algorithm analyzing such infrequent decision-making could figure this out much faster. Making their biases glaringly obvious gives organizations the opportunity to address the problems behind them. The

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

alternative is continuing with business as usual, letting bias seep into virtually every hiring and promotion decision.

Once biases are detected, organizations can correct biased decisions in three main ways. The first may be the most difficult. It involves creating better input data for the algorithm, which starts with changing hiring practices. Second, organizations can continue to use the same historical data but create new rules for the algorithm, such as including a variable that specifies diversity. Third, organizations can examine how existing input variables may introduce bias or consider new, more appropriate input variables.

In the end, algorithms are tools.

People build them, determine if their output is accurate and decide when and how to act on that output. Data can provide insights, but people are responsible for the decisions made based on them.

Jennifer M. Logg is an assistant professor at Georgetown University​.

By Leslie Zane

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F you want to get the green light for a project, you can’t just put together a presentation and rely on your ability to make a rational argument. You need to think like a marketer. And that means appealing to the subconscious minds of the decision-makers you’re presenting to.

For more than 25 years, I’ve worked with Fortune 100 brands to get them to rethink their marketing strategies.

We teach marketing leaders to influence the hidden drivers that dictate purchase behavior. As Harvard Professor Gerald Zaltman has argued, 95 percent of consumers’ purchasing decisions take place in their subconscious minds. This is because inside the mental shortcuts that people use to make quick decisions lies an ecosystem of accumulated associations and memories that have become glued to certain brands over time.

So how can employees leverage what we’ve come to understand about effective brand building? To maximize your chances of getting your ideas approved, follow these three rules:

Start early. The sooner brands be-

By Utpal M. Dholakia

gin building positive associations in the subconscious minds of customers, the better. In the workplace, the “first-mover advantage” is just as valuable. The more time you spend accumulating positive associations around your idea, the larger its brand matrix will be by the time the decision is made.

Create positive buzz. When a brand aggressively promotes itself, customers can grow skeptical. But when someone else endorses the brand, positive associations grow in the subconscious minds of prospective customers. Business people need “influencers” too, ideally from different parts of the organization.

consistent price vocabulary can differentiate brands from their competitors. What’s more, such differentiation can be durable: As the vocabulary develops a history with shoppers, it becomes associated with the brand, improving the shopping experience for core customers. n They increase customer engagement. When I’ve talked about

the price vocabulary concept and described Costco’s system, I invariably get an audience member or two who will say, “I’ve been a Costco member for many years, but I never knew about this until just now.” This reaction is usually followed by a sense of excitement at being able to engage with a trusted brand in a new way.

to a successful, historic business development that your boss tends to reference. Use compelling metaphors that evoke images of success. When there’s a match between the cues you provide and those that already exist in the mind of the decision-maker, you’re more likely to make the sale.

n They reward loyal customers.

Because of the direct link between the information communicated by the price vocabulary and the customer’s buying behavior, a well-designed vocabulary can effectively function as a loyalty rewards program.

Implementing a price vocabulary is relatively inexpensive to do, although it may take some time to catch on if your company hasn’t used one before.

It may even save your company money by introducing structure and consistency into the process of setting and changing prices.

Leslie Zane is the founder and president of Triggers Growth Strategy.

Utpal M. Dholakia is a professor at Rice University.

Develop ad campaigns, not presentations. Try comparing your plan

E2 Monday, August 19, 2019

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BPI, DOST recognize PHL students’ scientific researches, innovations POGSS 2019 organizers with speakers from Malampaya, Chevron and Pilipinas Shell Foundation Inc. (PSFI). Karl Micah Lepon, Harley Queen Servando, Jhona Keith Maguddayao and Vince Davidson Pacañot; Shell Senior Discipline Engineers Arianne Jay Buna, Gerald Misajon and Eugene Castillano; Chevron’s Belinda Racela; PSFI’s Sebastian Quinones; and the Society of Petroleum Engineers-Palawan State University-Student Chapter’s Patrick Yap.

MALAMPAYA CREW SHARES EXPERTISE, INSPIRES FUTURE PETROLEUM ENGINEERS

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UERTO PRINCESA—Students are the future of a country—so goes an adage. Thus, it is only fitting to equip them with the right skills and knowledge to help the Philippines in its journey toward development.

Malampaya engineers shared their substantive expertise and career learnings to more than 300 petroleum-engineering students of the Palawan State University at the second Philippine Oil and Gas Student Summit (POGSS) held recently at the Citystate Asturias Hotel Palawan.

Shell Senior Discipline Engineer for Process Eugene Castillano highlighted the importance of goal setting, collaboration and creativity to overcome challenges in operations: “We need to be volatile and creative, because problems now are complex.”

To solve those challenges, Castillano urged the students to be creative with their ideas.

For his part, Shell Senior Discipline Engineer for Pipelines Gerald Misajon treated the learners to an interesting session, as he gave a glimpse of his unit’s activities during subsea operations through video clips.

Misajon also talked about his unit’s resilience in overcoming environmental challenges through advanced equipment and robots.

Meanwhile, Shell Senior Discipline Engineer for Rotating Equipment Arianne Jay Buna emphasized the power of data in maximizing the operating potential of a project safely

and efficiently.

Buna said, “Proactively looking at data and analyzing it are crucial [in making] informed decisions. By [performing such], we are able to anticipate problems, and plan ahead even before [one] occurs.”

Meanwhile, Chevron’s Belinda Racela conveyed an inspiring piece on pursuing one’s passion as a career, and of finding out “what you love to do, to thrive and excel.”

Racela also shared the “ABCs” or the skill sets students must obtain as they enter the energy industry: aptitude, behavior and communication.

Pilipinas Shell Foundation Inc.’s Sebastian Quinones capped off the sessions as he discussed the role of engineering students in nation building, as well as helping and empowering underprivileged Filipinos.

Moreover, Quinones discussed the significance of successful project execution and the having the mindset of “getting things done.”

Presented by the Society of Petroleum Engineers-Palawan State University-Student Chapter, the second installment of POGSS aimed at producing a generation of innovators and leaders ready to face the challenging and complex problems of the oil and gas industry, while driving them to push its boundaries through groundbreaking solutions. Shell Phils. Exploration BV operates the Malampaya Deep Water Gas-to-Power project on behalf of the SC 38 consortium.

STUDENTS of CCA Manila at work

CCA Manila provides students real-life training, world-class skills

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SIX-FIGURE Salary. A chance to see the world.

The opportunity to taste the best food. A prospect to work in the best kitchens and trained by Michelin-starred chefs.

These await students taking up a diploma course in the country’s top culinary school: the Center for Culinary Arts (CCA Manila).

“The food service industry is booming. Hotels and restaurants are opening left and right. Cruise ships are filled with tourists. Due to the increase in demand for good food, a career in the culinary industry has become one of the highest-paying jobs in the world,” said Dr. Veritas F. Luna, chancellor of CCA Manila.

Recent industry reports reveal that a top executive chef may earn as much as a corporate executive, or even higher. Even entry-level jobs in the culinary industry are on a par with salaries of those entering the business-process outsourcing and engineering industries.

However, with the industry’s evident fast-paced growth, competition is also tighter. One must be equipped with necessary skills and knowledge to be able to advance in this cutthroat industry.

A degree in culinary arts, such as the one that can be earned at CCA Manila, could be a “gold ticket” toward the path to success. Being in the right culinary school could help you gain more advantages than you think.

“Culinary schools allow their students to learn the basics, ensuring versatility and mastery. They

are introduced to various techniques, styles, cuisines and anything that is relevant to their chosen field of expertise,” Luna said.

At CCA Manila, students undergo an intensive hands-on training. After hundreds of hours of training, with lecture and guidance by chef-instructors, students become more skilled, prepared and better in handling the pressure inside a kitchen.

“Students can also widen their network by meeting other culinary professionals. Other relevant skills are also taught, such as the business side of the industry," Luna explained. CCA Manila has partnerships, for example, with Thames for equipping students with entrepreneurship skills so their restaurants, commissaries, coffee shops or canteen can prosper.

"They can even learn management, people skills, and even cost-benefit analysis of their food inventory,” Luna added.

If you’re interested in starting your culinary career but is still unsure where to start, CCA Manila is the right culinary school. Being in the industry for 22 years, CCA Manila is the pioneer and has already established its reputation in the industry, Luna said.

The school offers a variety of options for students, allowing them to have the freedom to explore and master their chosen field of expertise. From time to time, the school invites chefs from abroad and significant figures in the industry to expose students to the practices of the world’s best.

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HIRTY outstanding college students who developed scientific researches and innovations received awards at the 30th BPI-DOST Science Awards from the BPI Foundation and the Department of Science and Technology.

This year’s awards focused on the theme “Moving the Nation toward Sustainable Development through Science and Innovation.”

The BPI-DOST Science Awards invited students from all over the country to contribute researches and innovations supporting global sustainable development goals.

Based on their academic performance, commitment to research, research problem, application and relevance, and scientifictechnical soundness, the award shortlisted 30 students to receive P10,000 and a medal.

It identified the top 10 most promising entries to receive an additional P15,000 and a certificate. Two were named “Best in Innovation” and received an additional P20,000 and a trophy.

The Project of the Year Award was awarded with an additional P25,000 and a trophy.

T he t wo-day celebration featured a workshop from Prof. Matthew Escobido of the Master of Science in Innovation and Business program at the Asian Institute of Management.

There were also talks from Outstanding Science Alumni Awardees Dr. Leopold Ilag from Stockholm University, Dr. Luis Sison from DOST-University of the Philippines Enterprise Center for Technopreneurship, and Engr. Maria Leah Flor de Castro from Ateneo de Davao University (AdDU).

“Through these awards, we hope to inspire more Filipino students to pursue scientific researches and innovations that contribute to building a stronger and more sustainable future for all of us,” said Maricris San Diego, executive director of BPI Foundation. “We believe that scientific advancements that start from addressing local realities and concerns have amazing potential to make an impact globally and uplift the human condition.”

Here is the list of awardees:

Project of the Year: Jay Patrick Nieles, BS

Electronics Engineering, the University of Santo Tomas (UST), has an innovation that helps locked-in syndrome (LIS) patients communicate through a brain-computer typing interface that uses visual imagination of shapes and symbols.

Best in Innovation:

1. Jay Patrick Nieles, BS Electronics Engineering, UST, his innovation helps locked-in syndrome patients.

2. Christian Badua, BS Biology, UP Manila, investigated how probiotics, specifically lactic acid bacteria, can be used in the treatment of colorectal cancer, one of the top causes of mortality in the Philippines.

People’s Choice Award: Jaime Garbriel, BS Chemistry, Ateneo de Manila University (AdMU), studied how agricultural by-products can be harnessed in making printed electronic applications as components for technological devices.

Top 10:

1. Alex Retona, BS Electrical and Communications Engineering, AdMU, designed a speech-assistive system integrated into Android devices for individuals who are suffering from incomplete locked-in syndrome.

These are speech-impaired and completely paralyzed, often as a result of stroke, but still have limited movements, such as finger gestures and blinking.

2. Chester Tantoco, BS Engineering, UP

BPI Foundation Executive Director Maricris San Diego (from left), BPI-DOST Science Awards-Best in Innovation awardees Christian Badua and Jay Patrick Nieles, and DOST-SEI Deputy Director Albert Mariño. Nieles was also the Project of the Year awardee.

Los Baños (UPLB), pursued the development of bioplastics from common agricultural residues, particularly from corn stover.

3. Christian Badua, BS Biology, UP Manila, investigated how probiotics, specifically lactic acid bacteria, for the treatment of colorectal cancer.

4. Dewey Sia, BS Computer Science, AdDU, investigated how computers can improve their capabilities for visual speech communication for better accessibility, especially for the deaf and mute.

5. Ryan Suplito, BS Engineering, UPLB, studied how sugarcane bagasse can be used as an alternative to petroleum-based plastics.

6. Jay Patrick Nieles, BS Electronics Engineering, UST, has an innovation that helps LIS patients.

7. Jeremie Pearl Cruz, BS Chemistry, UP Diliman, sought to understand how computer-aided drug design can expedite drug discovery and development, which often takes many years.

8. Jody Adriene Dong-E, BS Information Technology, St. Louis University (SLU) Baguio, developed kaagapAI, an automated text analysis tool that leverages machine learning and natural language processing to get behavioral trends and insights from mental-health therapy documents.

9. Marc Anthony Reyes, BS Computer Science, Xavier University in Ateneo de Cagayan, his PalayLab mobile app leveraged deep learning and convolutional neural networks to supplement pest and disease management techniques of rice farmers.

10. Marvin Serge, BS Computer Science, Xavier University in Ateneo de Cagayan, developed Atom, a chatbot using natural language processing engine Dialog f low that can be incorporated in many instant messaging platforms to aid people suffering from depression.

Other inspiring student researches:

1. Jephany Aragon, BS Biology, SLU in Baguio, explored how water pollution and scarcity can be addressed by the use of Moringa oleifera and acacia concinna barks for wastewater treatment.

2. Teody Gumabat, BS Chemistry, MSUIligan Institute of Technology, researched how zinc ferrite nanoparticles can be an alternative to antibiotics, in light of the rise of drug-resistant bacteria.

3. Sean Lemuel Santos, BS Biology Genetics, UPLB, used DNA barcoding to understand how onion army worms, which have been the scourge of onion farmers in the Philippines, can be effectively monitored and managed.

4. Carmela de la Cruz, BS Biochemistry, UP Manila, used organic and analytical chemistry to develop a sensor for aldehydes and help manage indoor air pollution.

5. Rich Laurence Inting, BS Environmental Science, AdDU, investigated how the Panigan-Tamugan Watershed can be a new water source for Davao City by 2021.

6. Ed Ivan Bardoquillo, BS Chemistry, AdDU, explored how a substance in nail polish removers can be used as a catalyst for the chemical recycling of plastic waste.

7. Lloyd Alvin Caumban, BS Computer

Science, Xavier University, Ateneo de Cagayan, sought to understand the use of microalgae in sequestration of wastewater nutrients.

8. Jodivine Navaros, BS Environmental Science, University of San Carlos (USC), researched how a native bamboo species can help address the severe pollution in Cebu’s Butuanon River.

9. Denxybel Montinola, Bachelor in Science in Applied Physics, USC, explored how biomaterials from abundant resources like mango peels and seaweeds can be used to create bioplastics and tissue scaffolds.

10. Kurt Bryant Bacharo, BS Marine Biology, USC, focused on the species identification and sustainable utilization of black corals, which are being overharvested globally, in fisheries management.

11. Jaime Garbriel, BS Chemistry, AdMU, studied how agricultural by-products can be harnessed in making printed electronic applications as components for technological devices.

12. Marielle Go, BS Biology, UST, developed a diagnostic method for the deadly tilapia virus plaguing the fishing industry.

13. Hazel Anne Pullan, BS Chemical Engineering, UST, studied how rice straw, which is often burned by farmers and contributes to air pollution, can be burned without oxygen into biochar, used as absorbent for carbon dioxide capture, and made into filler for biodegradable plant grow bags.

14. Nina Therese Flores, BS Biology, AdMU, explored how fungi using moringa oleifera wood as scaffold can be used to remove heavy metals like lead, which are detrimental to human health, from various environments.

15. Jomari Tan, BS Civil Engineering, DLSU, studied how expansive soils, which often lead to cracks on the ground and weaken various properties and other urban infrastructures, can be addressed in a more affordable and sustainable manner by using recycled gypsum combined with rice husk ash.

16. Paula Tse Wing, BS Statistics Major in Actuarial Science, DLSU, constructed a spatial model to understand poverty using nonincome indicators, such as the geographical location of households, displacement due to armed conflict or natural disasters, and availment of government services, to find more efficient poverty-reduction strategies.

17. Jaron Nicolas Uy, BS Chemical Engineering, UP Diliman, studied the repurposing of waste plastic sachets into ecofill that can be added to anticorrosion coatings to prevent the further production of plastic.

18. Cyril Paolo Quitevis, BS Electronics and Communications Engineering, UP Diliman, developed more affordable and reliable communication devices that can be used during natural disasters.

19. Jess Leal, BS Electrical Engineering, SLU, Baguio City, created an early warning system that monitors and measures rainfall and alerts communities and authorities before landslides occur.

20. Kitz Paul Marco, BS Biochemistry, UP Manila, aimed to discover anti-breast cancer agents from local plants.

Through these awards, we hope to inspire more Filipino students to pursue scientific researches and innovations that contribute to building a stronger and more sustainable future for all of us.”—Maricris San Diego

Marketing BusinessMirror

www.businessmirror.com.ph

Editor: Efleda P. Campos • Monday, August 19, 2019 E3

Marrying CSR with business strategy G

PR Matters

By Abigail Ho-Torres

ONE are the days when businesses existed solely for profit. Sustainability has crossed over from being a buzzword to a way of life, and many companies have started using the triple bottom line framework to measure success.

The triple bottom line, a term coined some 25 years ago, expands the traditional accounting framework to include not only financial performance, but also social and environmental impact.

These three bottom lines are usually captured in simpler terms: people, planet and profit.

This being the case, the spotlight shines brighter than ever on corporate social responsibility.

Some countries even mandate CSR activities, like India, while some, like Denmark, require a disclosure of CSR policies and practices.

Nowadays, any act of giving, including straight-up philanthropy, can be labeled “CSR.” But for CSR programs to be truly sustainable, they must be part of a company’s value chain—seamlessly integrated with business strategy.

How can this be done? It has to start from the top. Management must make a conscious decision to implement programs that will not only positively impact an organization’s income statement, but also generate societal and ecological gains.

Access to water

TO illustrate this point, I’ll cite the case of my own organization, Maynilad Water Services Inc. The water concessionaire has a number of CSR initiatives, all anchored on the United Nations Sustainable Development Goals, particularly Goal 6: Clean water and sanitation.

One of these initiatives is the provision of water access to blighted communities. For context: one cannot get a water service connection unless one can provide a proof of ownership, which informal settlers obviously do not have. This is not to condone illegal settlements, mind you. This is about providing a source of safe and affordable water to people already down on their luck.

These initiatives, dubbed Samahang Tubig Maynilad (STM) and Pag-Asa sa Patubig Partnerships (P3), give the company an opportunity to help those in need, while turning the beneficiaries into Maynilad customers. Beneficiaries, through organized homeowners associations, manage their own water systems, enjoying a subsidized tariff from Maynilad.

Instead of beneficiary communities getting water rations at high rates from who-knowswhere, they have ready access to affordable and safe water at around a third of the price. Earnings go to the association, and are plowed back into the community through various projects of their choice.

To date, STM and P3’s community water systems benefit close to 4,000 households all over Maynilad’s concession area. These CSR initiatives have also garnered a number of local and international awards, the

NANAY Dora, one of the Green Badge leaders, gives instructions to seamstresses in their makeshift workshop.

A GREEN Badge seamstress attaches a new badge to an old Maynilad uniform that will eventually find its way to a disaster survivor.

most recent among them a Gold Award from the 10th Global CSR Awards in 2018 for Best Community Program.

Social Enterprise Programs. Green Badge also received a Gold Stevie Award for Innovation in Energy and Sustainability at the recent 2019 Asia-Pacific Stevie Awards.

very people it serves, who, in turn, contribute to the growth of the business. This is how Maynilad walks the talk, living up to its tagline: higit sa tubig ang aming serbisyo.

The strategic connection

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.

Abigail Ho-Torres is the AVP and head of Advocacy and Marketing of Maynilad Water Services Inc. She spent more than a decade as a business journalist before making the leap to the corporate world.

Social enterprises

SOME STM communities have even set up social enterprises to augment earnings from their community water systems. The first of its kind is Kapwa Producers Cooperative, a Tondo community that produces toiletries and home care essentials, such as soaps, shampoo, fabric conditioner and dishwashing liquid.

Led by Lydia Codiñera, a retired teacher, Kapwa has grown from a backyard enterprise that sold their products solely to Maynilad, to a steadily expanding business that has bagged a supply contract with a community grocery chain and has even secured a small-scale distribution deal with a group in Saipan.

Since the creation of the group around eight years ago, Kapwa as a group and Aling Lydia as an individual have been recognized by a number of award-giving bodies, the most recent of which is the Go Negosyo Inspiring Filipina award for Aling Lydia’s leadership of STM Tondo.

Another community that is following Kapwa’s footsteps is STM Riverview in Quezon City.

Some women in that community are part of Maynilad’s Green Badge program, which retrieves old uniforms from employees, de-brands and repurposes these, and distributes the de-branded and rebadged old uniforms to disaster survivors.

Its objectives are multipronged: to prevent Maynilad uniforms from being used in unscrupulous activities, thus protecting the company’s brand and reputation; to provide decent clothing to disaster survivors; to give employees a chance to help others; and to provide livelihood opportunities to Maynilad communities.

Since its launch in 2017, the Green Badge program has collected and repurposed more than 7,600 pieces of uniforms, 6,200 pieces of which have been donated to Marawi siege survivors and victims of fires in 16 cities. Some of the old uniforms have also been transformed into sling bags, which Maynilad’s capacity-building arm Maynilad Water Academy have given to high-school students participating in its Junior Water Camp. The community now also produces some of Maynilad’s

KAPWA leader Lydia Codiñera receives her 2018 GoNegosyo Inspiring Filipina Award from President Duterte.

corporate giveaways.

The program currently has a core team of 22, which include seamstresses, washers, and sorters and packers—all of them women who did not use to have any source of income. Each of them now earn between P1,800 and P3,500 monthly for their work.

Apart from old Maynilad uniforms, the Green Badge community is now in the process of prototyping products made of old tarpaulin banners, to help Maynilad sustainably dispose of some of its waste materials. All cloth scraps from uniform repurposing, on the other hand, are turned into rags.

Both Green Badge and Kapwa were bestowed a Platinum Award for Best Community Programs at the 11th Global CSR Awards earlier this year, as part of Maynilad’s Water-centric

SO how do all these CSR programs figure in Maynilad’s corporate strategies? STM and P3 make customers out of communities that would never have been able to get water service connections, and could potentially be a hotbed for illegal connections. These, plus Maynilad’s social enterprises, also tie neatly with the company’s Love for Country core value, reinforcing its commitment to be a partner in nation-building.

Through these programs, the company lives up to its brand promise by helping uplift the lives of the

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.

ExecutiveViews BusinessMirror

Monday, August 19, 2019 | www.businessmirror.com.ph

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E4

ATTY. JESUS “BONG” SUNTAY

Hard work is key to success in business

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By Leony Garcia

A

T a young age, successful entrepreneur Jesus “Bong” Suntay already knew what he wanted in life: to be a lawyer and a businessman. He was in high school and his father was encouraging him to go into learning the computers during the advent of the new technology in the country. His father was the chief linotypist of the Soriano Corporations in the Philippines and he wanted his son to take the opportunity of learning the new technology.

But the young man, seeing his hardworking dad and not getting enough money for the family of six, decided he wanted to study law and go into business afterwards. “I was still in high school then and that’s what has been imbibed in my mind: to pursue law because I also wanted to do public service and to come up with my own business. That early, I was already thinking of the business that I want. I believe I would have a better opportunity in business than in employment,” he said.

While juggling college life, Bong said, he tried small businesses and menial jobs to earn money. He was a swimmer so he also taught swimming for a fee. He grew his earnings and started a taxi business.

To further learn the trade, he also drove the taxi himself and had to bring along taxi drivers themselves for them to show how much they should really earn.

Years later, Bong realized his dreams and proved himself he was right. After graduation from San Beda College of Law in 1996 and upon admission to the Philippine Bar in 1997, he went on to practice his profession as associate

and partner lawyer and went on to become the president of his own company, BASIC Transport Management, one of the largest and most trusted taxi fleet in the country.

But he did not stop there. In his line of duty as a taxi operator, Bong became the president of the Philippine National Taxi Operating Association (PNTOA). Sometime in 2004, the gasoline price plummeted to its highest. As president of the nationwide association, he had this dilemma: will he ask for fare increase from the government or will he look for cheaper alternative fuel?

Bong chose the latter. He said in his trips abroad, particularly in Japan and Australia, he noticed that taxis were using the auto LPG instead of gasoline. “I was amazed by how the LPG, which is widely used for cooking at home can make the taxi ran. So I studied it and learned that all I need is a conversion kit,” he said.

From taxi operator to LPG conversion kit dealer

BONG said the next step for him was to look for a manufacturer and supplier of the LPG conversion kit. “I found a private company named Tartarini. I went to Italy and bought five pieces, tested them on my taxis, and they worked. I wrote a letter of intent to Tartarni to become a dealer of their product in the Philippines which was granted. So I sold the conversion kits to my own company at a much lower price because I was also the authorized dealer in the country,” Bong narrated.

And because there was a demand for LPG at that time, in 2005, the next step for the enterpris-

ing entrepreneur was to look for LPG supplier. Shell agreed to supply him right at his own garage.

LPG turned out to be a lot cheaper, saving Bong as much as 40% compared to gasoline expenses. This use of alternative fuel got featured on television programs and became highly popular.

Other taxi operators sought his services for the conversion kit. Likewise, tour operator members of PNTOA also converted to LPG use.

The use of the LPG to run vehicles should have been very popular by now if not for a ‘miscommunication’ in the health department which issued news on the bad effect of LPG. Then, Health Secretary Dr. Enrique Ona said he would issue a statement to correct the previous report. But he got replaced and the issue on LPG use was not rectified to this day.

“Using the LPG for cars has no bad effects on health. I believe the government should look into this matter especially now with the high cost of gasoline. The price is getting higher and I feel that people, especially the merchants, should start looking into LPG which is a cheaper alternative,” he said

How Cleanfuel came to be

“AFTER a while, almost our clients were fleet operators. Understandably, the big oil companies did not want to install LPG tanks for the small operators due to a big investment. So I thought of selling other products to the small operators by establishing Cleanfuel Group of companies in 2006. Later on, especially with the wrong public advice on LPG and its popularity waned, I really had to sell other products like diesel and gasoline,” Bong narrated.

The LPG is now a small part of the business

with 90% devoted to selling gasoline and diesel.

From handful branches in 2007, Cleanfuel now has 63 stations challenging the giants in this industry.

With 12 stations being built simultaneously for this year, in the pipeline is to build 16 more for 2020. To further diversify his business, Bong put up Basic Hauling and Logistics Corp. in 2014 and Klean Land Property Ventures Corporation in 2015.

In between his law practice and growing businesses, Bong has also squeezed some precious time to serve the District 4 of Quezon city as councilor from 1998 to 2016 garnering the highest votes during elections and becoming the longest-serving Majority Leader in the history of the city until his election as congressman of the same district in the last 2019 midterm elections.

The enterprising congressman intends to finish the three terms as his district’s representative. He wants to contribute a lot more to his constituents.

“As you can see with my line of business, I want to create more jobs for the people. Other than that, I also want to provide them with a good healthcare system and housing program. I believe these are the basic things. And that will all start once I’m in the Congress by July 1 this year,” he said during the interview with BusinessMirror mid of June.

His secret to success

MORE than anything else, Bong is more excited to share his success story among the millennials and anyone who aspire to have a business and become a boss of their own just like what he did.

His number one rule is to become very handson in the business. Bong lives in Quezon City and

travels very early to attend to his responsibility at the company’s main office in Sumulong Highway in Antipolo City. He said he consults his people every now and then, getting brilliant ideas from them in the process. “But if there are urgent and priority matters, I decide at once. That is very important. Because if you take too long to decide, you’ll miss many opportunities,” he said in a mix of English and Filipino.

His words for the start-ups: “Take your time, not all businesses become successful at the start, but do not lose hope. Look for something you enjoy doing, so it doesn't feel like work. And when you expand your business, it should be in areas where you have competence. In my case, my businesses are related to each other, in the transportation business: from taxi fleet to selling conversion kit; selling cars and gasoline; and trucking. So everything is related.

“If the first venture is not successful, try again or look for another one and enjoy it. There is no such thing as one-time, big-time. Start small. Hard work is key to the success of an individual, ganun din sa business.

The value that you put to your business is very important, he said. “Here at Cleanfuel, we make sure that we give nothing but topnotch service on top of quality. That’s why our logo is, Quality fuel for less.

We guarantee our customers that they get the same quality fuel from us similar to our giant competitors.

There are many competitors in this line of business. As you can see here at Sumulong we’re side by side, but we’re competing well in terms of service, quality fuel and sales. We can keep up with them while helping people because our products are cheaper,” he concluded.