BusinessMirror August 21, 2019

HOUSE’S ALCOHOL TAX BILL ‘NOT ENOUGH’

By Bianca Cuaresma @BcuaresmaBM

& Butch Fernandez @butchfBM

T SEN. Pia Cayetano, who chairs the Senate Committee on Ways and Means, stresses a point at Tuesday’s hearing on increasing the excise tax rates on alcohol as two of her resource persons, Undersecretary Rolando Enrique Domingo (left) of the Department of Health and Undersecretary Karl Kendrick Chua of the Department of Finance listen. ROY DOMINGO

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

HE Department of Finance (DOF) proposed higher tax increases on alcoholic beverages to the Senate on Tuesday, saying the House of Representatives’s approved hikes in alcoholic excise tax are not enough to finance the Universal Health Care (UHC) program of the government.

Senate leaders said they have yet to firm up a consensus on whether to heed the DOF’s request, as hearings on the next-round excise tax hikes have just opened.

In a hearing on Tuesday, Finance Undersecretary Karl Kendrick Chua proposed their version to the Senate—reflecting revenue gains that are double the House’s version which was passed at the committee level last week via House Bill 1026. Late Tuesday, the House approved the bill on third and final reading.

See related story on page A8, “House gives 3rd reading okay to higher excise tax on alcohol.”

According to Chua, their proposed version of the bill will yield a revenue gain of P33.3 billion for 2020—about double the estimated revenue generation that will be produced should the House Bill be approved with its P16.6 billion version.

In particular, Chua said the House bill proposes an ad valorem excise tax rates of distilled spirits from the current 20 percent to 22 percent starting next year.

The DOF’s proposal wants this hiked to 25 percent starting next year. Specific excise taxes—or the taxes charged per proof liter—for this kind of alcoholic beverages are proposed to be hiked to P35 per liter in 2020 by the House version. Chua wants this hiked by P40 per liter starting next year.

Also, the House-approved tax rate hike on fermented liquors—the largest contributor to alcohol excise tax revenues—is at P32 per liter starting 2020. Chua wants this to hit P40 per liter by next year.

See “Alcohol tax bill,” A2

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

n

Wednesday, August 21, 2019 Vol. 14 No. 315

7-mo. BOI approvals up by nearly a quarter

I

By Elijah Felice E. Rosales

@alyasjah

NVESTMENTS approved by the Board of Investments (BOI) in January to July may have expanded by nearly one quarter, but the figure is not even one third of the agency’s target of P1 trillion for 2019.

Figures from the BOI showed that the agency’s approvals in the seven-month period rose by 24 percent to P312.8 billion, from last year’s P252.32 billion. In spite of

the growth, the agency is nowhere near its objective of hitting the P1trillion mark this year.

However, Trade Undersecretary and BOI Managing Head Ceferino

S. Rodolfo is unfazed by this, saying the investment body has “piles of projects” waiting to be approved.

In a statement on Tuesday, Rodolfo said capital inflow to the

T

PESO EXCHANGE RATES n

See “Peza,” A8

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

No hegemon in this region of the world

Philippines is still increasing in the face of a tariff war between the United States and China and a trade conflict between Japan and South Korea. The collapse of the multilateral trading system may be taking a toll on many economies, but the Philippines is an exception to the rule, he argued.

See “BOI,” A8

Teddy Locsin Jr.

FREE FIRE Speech delivered by Foreign Affairs Secretary Teodoro L. Locsin Jr. at the Asean Post Ministerial Conference 10+1 Sessions with The Dialogue Partners held in Bangkok, Thailand, from July 31 to August 1, 2019.

E

XCELLENCIES, cochairs, we note US efforts to strengthen and enhance through a number of actions the Asean regional security architecture as a cornerstone of political freedom, economic development and free trade. Freedom of navigation operations demonstrate the vivacity of the concept as mere verbal assertion cannot. It is an expensive but necessary exercise for which we are all indebted to the United States.

The Asean Outlook on the Indo-Pacific recognizes the connection between the two oceans and the traffic on them that is so essential to the progress of the world’s most dynamic region.

Continued on a6

‘Fat-free’ budget sent to House

By Jovee Marie N. dela Cruz @joveemarie

T

“Peza incentives are performance-based from the beginning, not an afterthought. [They aim] to motivate and encourage companies to upgrade, grow and perform. Peza has a validation process for this in order for locators and companies to avail themselves of tax incentives.”—Plaza

the Peza can suspend and revoke the business permit of a locator for failure to comply with the terms and conditions governing its incentives. For the same justification, an economic zone firm may also be stripped of the tax perks it is enjoying.

Further, locators are required to submit on time fiscal and performance reports to the Peza in order to continue availing themselves of incentives, Plaza added.

On top of this, they are tasked under the Tax Incentives Management and Transparency Act (Timta) to submit periodic reports—which the Peza consolidates—to the Bureau of Internal Revenue (BIR) and the National Economic and Development Authority (Neda).

The reports contain the list of incentives received by economic zone firms and data on investments

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 5 sections 34 pages | 7 DAYS A WEEK

Terms on performance, timelines limit ‘forever’ in Peza perks–Plaza

AKE that, Salceda. The Philippine Economic Zone Authority (Peza) on Tuesday said its grant of fiscal incentives are regulated by terms and conditions that require firms to perpetually expand their operations and markets, as well as modernize their products and services.

As such, Peza Director General Charito B. Plaza said, there is no need for the investment body to be covered by the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, as Rep. Joey Salceda, House Ways and Means panel chairman, insists. Even without the measure, Plaza argued, the grant of tax perks in the Peza are performance-based and time-bound because locators are mandated to continuously bring in new capital and upgrade their activities, or else.

“Peza incentives are not given to companies, enterprises, locators or ecozone developers per se, but incentives for export-based industries are for those who are able to upgrade their products [and] activities, expand their projects and markets, [as well as] those who can bring technology transfer in the Philippines,” Plaza said in a statement.

Citing the implementing rules and regulations of the Special Economic Zone Act, Plaza pointed out

2018 EJAP JOURNALISM AWARDS

₧1 trillion

The Board of Investments (BOI) target for 2019. The agency’s January to July approvals expanded by nearly one quarter to P313 billion, but the figure is not even one third of the P1-trillion goal

tainability summit held in Manila on Tuesday.

SM Prime has also provided free storage data to serve as the repository for documents essential to early recovery and business continuity.

To date, there are over 1,500 SMEs which have availed themselves of this service.

HE Department of Budget and Management (DBM) on Tuesday submitted to the House of Representatives a “no fat, boneless and pure meat” P4.1-trillion National Expenditure Program (NEP) for 2020.

In his budget message submitted by Budget Secretary Wendel E. Avisado, President Duterte said the government aims to achieve growth targets through investments in priority programs, including infrastructure and social services.

The 2020 national budget of P4.1 trillion, which is cash-based, is 11.8 percent more than the 2019 budget and will constitute 19.4 percent of the country’s GDP. “This journey into the second and final half of the administration will be fueled by the 2020 national budget. It is the financial program that will ensure that our nation stays the course and moves forward toward its aspired-for destination,” the President said.

Social services will receive the largest chunk of the budget at P1.5 trillion, or 37.2 percent of the total, followed by economic services, which will get P1.18 trillion, or a 28.9-percent share. General public services will receive P734.5 billion; debt burden, P451 billion; and defense, P195.6 billion.

See “SM,” A2

See “Budget,” A2

AUSTRALIA’S Ambassador Steven J. Robinson (left) shares a light moment with two pillars of Philippine business—Hans Sy, director of SM Prime Holdings, and Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala—at the Sustainability Summit 2019 at Conrad Hotel in Pasay City on Tuesday. With them is Dr. Roberto de Ocampo (right), board member of the Global Reporting Initiative. NONIE REYES

SM Group exec: Protect SMEs from disaster

By VG Cabuag

P

@villygc

ROTECTING the small and medium enterprises from natural disasters is key to a sustainable value chain and attaining business continuity, the SM group said.

“Empowering supply chain is particularly close to our hearts

because SM’s roots were borne from our father’s entrepreneurial spirit,” Hans T. Sy, director at mall operator SM Prime Holdings Inc. and adviser to the Sy family’s holding firm SM Investments Corp., said.

Sy is the SMIC’s appointed adviser who participated in the United Nations Global Compact-Global Reporting Initiative regional sus-

US 52.3080 n JAPAN 0.4906 n UK 63.4444 n HK 6.6682 n CHINA 7.4186 n SINGAPORE 37.7294 n AUSTRALIA 35.3707 n EU 57.9573 n SAUDI ARABIA 13.9473

Source: BSP (20 August 2019 )

News

BusinessMirror

A2 Wednesday, August 21, 2019

www.businessmirror.com.ph

Hog raisers: Help came too late, too little

By Samuel P. Medenilla

@sam_medenilla

G

OVERNMENT intervention in areas of Rizal province ravaged by a strange animal disease came too late and too little for them, said hog raisers who said they are now stripped bare of their livelihood.

Gaddie Mercado, 46, could not hide his frustration over the supposed slow government response in addressing the still-unidentified disease that killed two of his sows.

Despite his ordeal, he said he is among the lucky ones as some of his hogs are still alive. Other neighbors with backyard pig pens lost all sows.

Sows can give birth to as many as 10 piglets, which can be sold for

Budget. . .

Continued from A1

The President said the government will maintain a “manageable” deficit of 3.2 percent of GDP. For next year, President Duterte said the government will sustain the momentum of rising revenue collection by pursuing the Comprehensive Tax Reform Program.

Duterte also expressed confidence that the country’s fiscal program will support the target growth of 6.5 percent to 7.5 percent for 2020.

Revenue collections are expected to reach P3.536 trillion in 2020, 12.3 percent higher that this year’s targeted level of P3.1 trillion.

This will fund 83.9 percent of programmed disbursements for 2020.

Earlier, the leadership of the lower chamber said the Executive branch and Congress have agreed to pass revenue-generating measures first before approving the 2020 national budget.

The President also said total gross borrowings for 2020 will amount to P1.4 trillion.

“With a borrowing mix policy of 75:25 in favor of domestic sources, P1.047 trillion will be sourced locally while the remaining P353.2 billion will come from abroad,” he said.

Of the total gross borrowings for next year, Duterte said P677.6 billion will plug the deficit.

The top 10 agencies that will get the biggest allocations next year are Department of Education, P673 billion; Department of Public Works and Highways, P534 billion; Department of the Interior and Local Government, P238 billion; Department of Social Welfare and Development, P195 billion; Department of National Defense, P189 billion; Department of Health, P166.5 billion; Department of Transportation, P147 billion; Department of Agriculture, P56.8 billion; the Judiciary, P38.7 billion; and Department of Environment and Natural Resources, P26.4 billion.

Laws to be funded

AVISADO said the 2020 NEP will also finance the implementation of the administration’s priority measures and programs.

These include the Universal Health Care (UHC) Act, institutionalization of the Pantawid Pamilyang Pilipino Program (4Ps), smooth transition to the Bangsamoro Autonomous Region in Muslim Mindanao, implementation of the Rice Liberalization Act, creation of the Department for Human Settlements and Urban Development, and the National Task Force to End Local Communist Armed Conflict.

In view of the full implementation of the UHC Act in 2020, Avisado said the UHC program is allocated P166.5 billion.

“Some P67.4 billion is allocated for the National Health Insurance Program [NHIP] of the Philippine Health Insurance Corporation [PHIC], while P92.2 billion is set for the Department of Health. Additionally, P7 billion is earmarked for the Human Resources for Health Deployment Program, under the DOH Miscellaneous Personnel Benefits Fund,” he added.

Following the implementation of the 4Ps Act, Avisado said P108.8 billion is allocated for the conditional cash transfer program.

“Starting 2020, the health and nutrition cash grants of qualified households will increase from P500 to P750 every month, to accommodate the rise in prices. At the same time, the educational cash grants will increase from P500 to P700 for every child enrolled in senior high school,” he said.

Pursuant to the Bangsamoro Organic Law, Avisado said P70.6 billion is allocated for the

P2,500 each.

“It is already too late [for government help] because our hogs are now almost all gone,” Mercado told BusinessMirror in an interview.

Marilou Escavel-Coronel, 44, lost all of her nine hogs to the disease in the past weeks, just as some of them were about to give birth.

“I even took a loan to expand my pig pen in anticipation of the new Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“Of the amount, P63.6 billion is for the annual block grant, P5 billion is for the special development fund, and P2 billion is for the BARMM’s share in the national taxes,”he added.

Avisado also said Republic Act (RA) 11203, otherwise known as the Rice Liberalization Act, mandates the creation of the Rice Competitiveness Enhancement Fund (RCEF).

He said the RCEF, which aims to provide assistance to farmers, cooperatives, and associations who will be adversely affected by the influx of imported rice due to the liberalization of the rice sector, has been provided P10 billion for 2020.

Following the enactment of RA 11201, or the Department of Human Settlements and Urban Development (DHSUD) Act, Avisado said the 2020 budget includes an allocation of P641.6 million to support the initial operations of the agency.

“Pursuant to Executive Order 70, s. 2018, on the Whole-of-Nation Approach in Attaining Inclusive and Sustainable Peace, P622.3 million is allocated for the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC),” he said.

“I may be your new budget secretary, but I assure you that the priorities of the national budget remain to be consistent with our development objectives. Hence, the 2020 NEP will sustain the tremendous progress we have made as a nation under the strong and capable leadership of the President,” Avisado added.

Pork barrel

SPEAKER Alan Peter Cayetano said the unconstitutional pork barrel “will be a thing of the past.”

Cayetano said during the budget deliberations that the public can expect a “less tedious” budget as talks will veer away from parochial concerns.

“Parochial concerns are important. But the reason why there will be less in this budget hearing is because we will have constant interaction with the departments and this budget that they have submitted already contains many of the answers to the parochial concerns,” he said.

Cayetano also said he will not tolerate the so-called parking of funds in the proposed 2020 national budget.

In the 17th Congress, lawmakers reportedly parked at least P300 million in infrastructure projects in the 2019 national budget.

The “parking of budget” is a new scheme purportedly hatched by some lawmakers to earn commissions.

Majority Leader Martin Romualdez said the lower chamber is committed to pass a “constitutionally compliant” national budget.

“We will comply with the Supreme Court ruling that outlawed any form of pork barrel.

Definitely, the pork barrel system is a thing of the past,” said Romualdez.

Also, Romualdez said line item budgeting system will be strictly observed to ensure transparency and accountability in the disbursement of public funds.

House Committee on Ways and Means Chairman Joey Salceda said social services accounted for almost all of the increase in noninterest expenditures, saying the 2020 budget is “no fat, boneless, [and] pure meat.”

Per the committee’s schedule, the budget hearings will kick off on Thursday, August 22.

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

piglets. That is why when my sow died, I thought I was also going to die from crying, thinking how I could pay my loans,” Coronel said.

Mercado, however, said assistance would most likely not cover hog raisers like Coronel, who lost their livestock days before the government initiated the depopulation procedures. Initially, the plan is to compensate only those whose live hogs were taken for culling.

“If those who lost their hogs to the disease will say they have 13 hogs, would the authorities believe them?” Mercado said, by way of explaining why government is inclined to compensate only those with culled pigs.

The government did no inventory of the existing hog population in their area when the disease started to spread a few weeks ago, leaving it without any basis for compensating those whose entire livestock died from the disease.

A more encompassing intervention, he suggested, is offering affected raisers with loans to buy new livestock.

These, he said, should be at low

Government indemnification

ON Monday, Mercado said they got word that the local government had started confiscating the remaining hogs in Rizal, to be culled in exchange for P3,000 per head.

“Do they think that is enough?

They should pay for the selling price of the hogs,” Mercado said.

Live hogs may fetch as much as P10,000 in the market.

Mercado said the proposed compensation for affected hog raisers will only be enough to pay for two weeks’ worth of feeds, usually at P1,500 per sack.

Lelita Ledala, 65, also hopes for bigger compensation. “I don’t have any other source of income. I don’t want to depend on my children [for my needs] since they already have their own families,” Ledala said.

interest, given their heavy financial losses.

Unknown cause

AUTHORITIES have yet to identify the exact hog disease, which spread in Rizal, let alone determine its cause.

Based on testimonies of hog raisers interviewed by the BusinessMirror, common symptoms of infected hogs include bloody snout excretion, poor appetite, miscarriage for pregnant sows and red rashes, which would turn purple near death of the host.

The Department of Agriculture (DA) said it may take two weeks to three months before it could determine the killer hog disease in Rizal.

Until then, DA called for stronger biosecurity measures in the province, such as compliance with animal checkpoints and checking the quality of food given to surviving hogs.

Swill feeding

GOVERNMENT officials and the National Federation of Hog Farmers Inc. warned backyard raisers against feeding their hogs with kanin baboy or swill due to its potential deadly foot-and-mouth disease (FMD) and the dreaded African Swine Fever (AFS).

It is common practice for backyard hog raisers in Rizal to feed their hogs with cheap swill taken from the landfill in the province.

“There are some people who regularly deliver it to us at P180 per sack,” Ledala said.

Mercado said backyard hog raisers cannot afford to exclusively give feeds, worth P1,500 per sack.

“Perhaps the government could help us create an association to manage our own feed mill for backyard raisers,” Mercado said.

He said the mill would not only make the food given to backyardraised hogs safer, but it will also allow them to earn more.

ZAMORA ‘GOING THE WHOLE NINE YARDS’ FOR SAN JUAN

By Claudeth Mocon-Ciriaco Correspondent

S

AYING they are inspired by his “transparency, good governance and respect for the rule of law,” nine members of the San Juan City Council belonging to the EjercitoEstrada camp and 21 barangay chairmen have expressed full support to Mayor Francis Zamora as he presses his battlecry: “Makabagong San Juan.”

“We stand united ready to toe the line and hereby pledge to assist Mayor Zamora in his realistic vision, projects, programs and proactive efforts to rebuild our beloved city— Para sa Makabagong San Juan,” the group said in their manifesto of support read during a press conference on Tuesday afternoon.

Those who said they believe that Zamora “is an invaluable advocate for effective and genuine chance” that the city needs are: Councilors Boyet Aquino, Raissa Laurel, Vincent Pacheco and Kit Peralta, together with Herbert Chua (ABC President) Ariel Atad (SK Federation President). They now form the majority bloc with the three original PDP-Laban councilors: Paul Artadi, Totoy Bernardo and Bea

MAYOR Francis Zamora (right) shakes hands with Rolando L. Macasaet, chairman and concurrent OIC-President and general manager of the Government Service Insurance System to seal their signing of a contract for the GSIS Financial Assistance Loan Program in San Juan City. NONOY LACZA de Guzman. Vice Mayor Warren Villa, who was Zamora’s running mate in the elections, is their presiding officer in the city council.

Likewise, all the 21 Barangay Chairmen have pledged their full support to Zamora’s leadership, saying they personally witnessed his hard work

Alcohol tax bill. . .

He also wants alcopops—which were taxed as distilled spirits for 2019—to be taxed as fermented liquor with specific rate on a volume basis.

As an example, Chua said the leading beer in the country—currently priced at P86.90—will be priced at P93 given the House’s tax increase proposal.

“The increase is not significant. If your income is increasing, due to the lower income tax and the growing economy, we believe this is affordable,” Chua said.

The DOF’s proposal will hike this to P102.

Health care

“AGAIN, according to the Universal Health Care we are proposing to get the P15.5 billion from the recently approved tobacco law and P36.5 billion from the DOF-DOH proposal that the Senate might want to consider, therefore giving us a much smaller gap which I think is more manageable so that we can finance the Universal Health Care according to what the law proposes,” Chua said.

Alien ships. . .

Continued from A8

allowed them and just made protests. But this time we will tell them please get out of our territory.”

He also clarified, though, that the government will not use military force in the meantime.

Moreover, the Palace also said it does not see the President’s order on foreign vessels leading to a war with China, which the President had said he meant to avoid.

Based on Lorenzana’s report, the

Continued from A1

“What we basically propose is to further improve the system and adjust the rates so that we fund Universal Health Care, discourage consumption and to promote a healthier work force,” he added.

Senators undecided

MEANWHILE, Senate Minority Leader Franklin Drilon disclosed Tuesday that senators have yet to firm up a consensus on whether to heed the Finance department’s request to pass a higher version of excise tax rates on alcohol products.

Senate President Vicente Sotto III, asked if senators will heed the DOF request to pass a higher version of excise tax rates on alcohol products, confirmed that senators have yet to firm up a decision.

“We will study and review before any decision,” Sotto III told the BusinessMirror.

Senate President Pro Tempore Ralph Recto indicated, however, that senators are not likely to go beyond the House version, saying “the Senate has never topped the House proposal.”

Drilon indicated to reporters the senators Chinese warships passed through Philippine territory at Sibutu Strait in Tawi-Tawi last August and twice more in July, at all times without giving prior notice to Philippine authorities.

Recto weighs in

MEANWHILE, Senate President Pro Tempore Ralph Recto backed President Duterte’s directive requiring foreign ships to seek permission to transit in any part of Philippine territory.

“The President is in the right in directing foreign ships who will sail

to carry out services to the barangays, together with his father, Rep. Ronaldo Zamora.

With just less than 100 days since the Zamoras assumed office, father and son have started with the groundbreaking and inauguration of various infrastructure projects, including the

have yet to reach a consensus on whether the “sin” tax bill is “a health measure rather than revenue raising.”

He added that legislators are still firming up a decision on “the proportion of tax on cigarettes and alcohol products,” referring, for instance, to the proposed “70-30 ratio which started at 50-50,” citing the position of Senator Pia Cayetano that “diabetes is caused by alcohol.”

Drilon, however, signalled that senators are close to firming up a consensus on the sin tax bill, noting “evidence that higher [sin] tax decreased consumption” from 2012.

Finance Undersecretary Chua confirmed a “modest drop in [alcohol] consumption to 40 percent,” but noted that, “nagbaba konti pero tumataas ulit [it declined slightly, but is going up again].”

For his part, Majority Leader Miguel Zubiri observed “a corelation” of tax hike projecting a drop in consumption.

DOF’s Chua affirmed “an initial drop in prevalence,” but projected it would be worse if the bill were not passed. He sees “an increase of 47 percent if we don’t increase” sin taxes on alcohol products. on our seas to ask clearance from proper government authority well in advance of the actual passage,” Recto said Tuesday.

In a statement, the Senate leader pointed out that if domestic ships are required to file in advance the course they will take, “then why should we exempt foreign ships from doing the same?”

Recto added: “If we accost jaywalkers and fine drivers who change lanes abruptly, then why should we not demand the same observance of our laws from vessels who will cross our country?”

opening of West Crame Elementary School, the first-ever wooden covered basketball court in the barangay, the one-stop shop government service center, and the site development and rehabilitation of the historical Pinaglabanan Shrine.

Various social services and livelihood programs are also continuously delivered to the people of San Juan through medical, educational and burial financial assistance by the office of the Mayor. The city has forged partnerships with the national government and agencies like the GSIS for loan refinancing for the employees, and with civic society organizations for livelihood and people empowerment initiatives in the grassroots.

Moreover, the centerpiece of Zamora’s administration—the very first highrise in-city public housing, free Wi-Fi in all barangays, modernization of San Juan Medical Center to make it a onestop shop hospital with free medicines, are already in the works and will be launched within the year.

“I am going the whole nine yards because the San Juaneños are worth the whole nine yards, to be in cloud nine,” the mayor said.

SM. . .

Continued from A1

The SM group works with nearly 25,000 small and medium enterprises, both directly and indirectly, representing 27 percent of total SMEs in the Philippines. These are SM’s mall tenants, traders and suppliers mainly in retail.

SM has integrated three platforms in terms of its operations and sustainability to include investing 10 percent of its capital expenditure on disaster resilient features depending on a mall’s existing hazards; capacity building and collaboration and public-private partnerships at the global, regional and national levels.

“Through these efforts, we seal our commitment in creating a more equitable and progressive environment for business partnerships for generations to come,” Sy said.

Ayala’s take

ON the other hand, Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala, who also attended the summit, said there should be special emphasis on integrating sustainability in business strategies.

“We designed a long-term Sustainability Blueprint that lays out actionable and measurable targets that address critical environmental, social, and governance gaps that the country faces today. It is specifically designed to support the achievement of the UNSDGs by 2030 that will enable us to be more deliberate in monitoring and evaluating our sustainability targets and allocate resources to these initiatives more appropriately,” Zobel said.

In April 2019, the company launched the Ayala Sustainability Blueprint, a framework that allows each business unit to champion specific United Nations Sustainable Development Goals (UNSDG), with an end goal to make significant impact in sectors that would benefit the most.

The Nation BusinessMirror

www.businessmirror.com.ph

4 SC justices vying for Chief Justice post

By Joel R. San Juan @jrsanjuan1573

F

OUR associate justices of the Supreme Court are now vying for the Chief Justice (CJ) position that will be vacated when Chief Justice Lucas P. Bersamin compulsorily retires on October 18.

Associate Justices Diosdado M. Peralta and Estela M. Perlas-Bernabe were among the five senior associate justices of the SC who were automatically considered by the Judicial and Bar Council (JBC) for the post.

The other three justices automatically considered were Senior Associate Justice Antonio T. Carpio, Associate Justice Benjamin S. Caguioa and Associate Justice Mario Victor F. Leonen.

However, only Peralta and Bernabe accepted their automatic nomination for the CJ post while Carpio, Caguioa and Leonen decided to turn down their automatic nomination.

Peralta, who was appointed by former President Gloria MacapagalArroyo to the SC in 2009, and Bernabe—appointed by former President Aquino in 2011—are both 67 years old.

Peralta was born in Laoag City, Ilocos Norte, and started his career in government service in 1987 when he was appointed third assistant city fiscal of Laoag City.

On the other hand, Bernabe joined the judiciary as technical assistant in the office of then Justice Lorenzo Relova upon her graduation from the Ateneo College of Law and passing the Bar in 1976.

From 1978 to 1993, she engaged in private legal practice working for China Banking Corp., Paramount Finance Corp. and the National Home Mortgage Finance Corp.

In 1996, Bernabe returned to the judiciary as she was named Metropolitan Trial Court judge of the Makati City, Branch 66.

In 2000, she was promoted to Regional Trial Court, Makati City, Branch 142. She was promoted to the Commission on Appointment (CA) on March 15, 2004.

In declining his automatic nomi-

“For now, in my considered judgment, my decision is the right thing to do for myself, this Court and this country. I will be able to do what I do best for our people in my current position.”—Leonen

nation for the CJ post, Carpio said, “I am declining because there are only eight days left from the vacancy to my compulsory retirement.”

Leonen, on the other hand, said: “For now, in my considered judgment, my decision is the right thing to do for myself, this Court and this country. I will be able to do what I do best for our people in my current position.”

2 Reyeses in race

ASIDE from Peralta and Bernabe, Associate Justice Andres B. Reyes Jr., was also nominated for the position.

The 69-year-old associate justice was nominated by retired SC Associate Justice Jose P. Perez and retired Court of Appeals Associate Justice Sesinando E. Villon.

Reyes, who has accepted his nomination, was a trial judge from 1987 until 1999, when he was appointed Associate Justice of the CA. On February 10, 2010, he was appointed presiding justice of the appellate court until his appointment to the SC in 2017 by President Duterte.

Likewise, SC Associate Justice Jose Reyes Jr. has also joined those vying for the CJ post, according to the Judicial and Bar Council.

The 68-year-old Justice Reyes will have until September 2020 to serve as chief magistrate if he gets appointed to the position.

He was appointed to the SC post by President Duterte on August 9, 2018.

He served as a trial court judge for 16 years prior to his appointment as an appellate court justice in 2003.

Tuesday was the deadline for the application and nomination for the CJ post.

Peace adviser for, Imee vs reviving anti-subversion law

P

By Bernadette D. Nicolas @BNicolasBM & Butch Fernandez @butchfBM

RESIDENTIAL Peace Adviser Carlito G. Galvez Jr. has joined calls for the revival of the antisubversion law to boost current government efforts against communist rebels, but those opposing revival found a new ally from an unexpected corner— neophyte Sen. Imee Marcos.

The Department of the Interior and Local Government (DILG) had first called for the restoration of the law, which made it a crime to be a member of the Communist Party of the Philippines (CPP).

Expressing his support for DILG’s proposal, Galvez said on Tuesday: “I believe it would be better. It can multiply the effect because first of all, the organizations affiliated with the CPP and NPA [New People’s Army], definitely we can curb them and we can issue warrants.”

This even after Justice Secretary

By Rene Acosta @reneacostaBM

A

JOINT team of policemen, soldiers and Coast Guard personnel seized over the weekend a Vietnamese vessel while it was illegally fishing in Tawi-Tawi.

The seizure of the unmarked vessel came as the government team conducted maritime patrol in sea waters off Great Bakunggan, Langaan and Boan Islands in Turtle Islands, Tawi-Tawi.

During inspection, authorities discovered the vessel was manned by four Vietnamese crew members without legal documents.

By Claudeth Mocon-Ciriaco Correspondent

U

MARIKINA City Mayor Marcelino R. Teodoro replies to a reporter during the launch of his city’s feeding program using Nutribun and milk inside his office at the City Hall, Tuesday. Teodoro said the local government of Marikina revived the Nutribun program to address malnutrition.

flour, which are all healthy and their nutritional content are appropriate to growing children.

After 120 days of undergoing the program, the mayor said children will be weighed to asses their health

Menardo I. Guevarra expressed his opposition to the restoration of the repealed law, pointing out that mere membership in the CPP is not a crime unless overt criminal acts are committed.

Guevarra said amending the Human Security Act could already suffice.

On those two points, Senator Marcos echoed Guevarra’s arguments.

At the Senate on Tuesday, Marcos said, “it is not ideology but criminal acts that should be punished.”

Responding to a clamor by

“military and police supporters” to fight insurgency by reviving the old law, Marcos described the Anti-Subversion Act as “a relic of the Cold War era.”

She suggested an alternative.

“Updating and upgrading the country’s anti-terrorism law—the Human Security Act of 2007—would provide a stronger legal instrument than the Anti-Subversion Act of 1957 to punish crimes committed in the name of ideology, religion, politics or economic gains,” she said.

Cops on campus

MEANWHILE, Galvez also said he is in favor of heightening police presence in schools in order to deter the alleged communist recruitment in schools.

Galvez’s remarks came as students from universities held protests on this proposal by Senator and former Philippine National Police chief Ronald M. de la Rosa.

“We have to allow because if we will not allow it…the people will be deprived of the security, especially now that there are many cases of recruitment among students. So meaning, if we could not prevent that, the recruitment of students and what we see that they will be

exploited, their adventurism and activism…the security forces will be restrained to enforce their capabilities,” he said.

Malacañang said last week, however, that ramping up police presence in educational institutions will not deter communist recruitment as this is done in secrecy.

The government is currently pursuing localized peace talks in dealing with communist rebels.

Marcos bill

EARLIER, Senator Marcos had filed Senate Bill 630, to be known as the Anti-Terrorism Act of 2019, increasing the liability for crimes listed in the Human Security Act, providing for a possible death penalty for rebellion, insurrection, coup d’etat, arson, kidnapping, and hijacking, among others.

Other violent or premeditated acts that intend to sow fear and panic among the public, threaten the government or disrupt public services are also considered forms of terrorism in the Marcos bill, including new modes of promoting and committing violence using computer technology, educational institutions, and chemical, biological, radiological and nuclear material.

Authorities seize Vietnamese vessel for illegally fishing in Tawi-Tawi

Marikina revives Marcos-era Nutribun program SED to address malnutrition during the Marcos dictatorship, the Nutribun feeding program is back—and it’s in Marikina City.

According to Mayor Marcelino R. Teodoro, they revived the program began through the United States’s Food for Peace Program in 1972 to provide proper nutrition to 21,000 Kinder and Grade 1 public school children in the city and achieve a zero malnutrition rate next year.

Teodoro said the move came after learning of cases of undernutrition among public school students.

“We found out that school children don’t have nutritious food to eat during their recess,” he added.

The mayor noted that the level of nutrition of children affects their performance in school.

Teodoro said that Marikina’s Nutribun is made up of malunggay (Moringa oleifera), squash, eggs and

Editor: Vittorio V. Vitug • Wednesday, August 21, 2019 A3

condition. He said their performance in school will also be assessed.

Teodoro said the funds for the Nutribun program will be coming from the Special Nutrition Fund of Marikina City.

The vessel also unearthed a drum and three pails of sea cucumber.

The boat was towed to the Coast Guard Sub-Station Great Bakunggan for investigation and was later impounded in Bongao for the filing of appropriate charges.

“We encourage each and every Filipino citizen to immediately report to the proper authorities any illegal fishing activity in their area,” said Lt. Gen. Cirilito Sobejana, commander of the Armed Forces Western Mindanao Command (Wesmincom).

“Let us be more vigilant and contribute in the conservation and protection of our natural resources,” Sobejana added.

He also asked barangay officials to take the lead in the intensified campaign for sustainable peace and development during a meeting with local officials of Mapun, Tawi-Tawi.

“The strength of our nation is as good as its weakest barangays. Do not think that you are just barangay captains, you are nothing in the government structure,” Sobejana said.

“You have an enormous role in the security campaign, and you must strive to implement what good plans you have for the common good,” he added.

The Wesmincom commander further urged local officials to set a good example, as the local govern-

ment and the security sector work for peaceful and economically developed communities.

Charles Lao, officer in charge of the Office of the Mayor of Mapun, said it was the first time for the Wesmincom leadership to talk with local officials and the community.

“We are very much honored to have Sobejana and his staff. We want to extend our heartfelt and profound gratitude to you, for sharing with us your wisdom and for addressing all our concerns despite our location,” Lao added.

Fifteen barangay officials joined the dialogue held at the Mapun Municipal Hall on Sunday.

Village Museum bags LCF’s cultural award

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HE Lamlifew Village Museum in Malungon town, Sarangani province, recently won in the “Outstanding Corporate Social Responsibility Project in Arts and Culture” of the League of Corporate Foundations (LCF) Guild Awards.

The first of its kind in the country, the museum has become Malungon town’s top tourist spot.

The local government of Sarangani said it won the prestigious award with the support of ABS-CBN Foundation Inc., which helped craft the eco-cultural experience for tourists and guests. The museum has a “Blaan School of Living Traditions,” which preserves mabal tabih, considered as the crown jewel of Sarangani’s cultural resources and is recognized by the National Commission for Culture and the Arts.

The community project was also named among the 10 awardees of the Sinag Accelerate from the BPI Foundation Inc. in 2017, where it received business-incubation training and seed-funding grants.

WOVEN culture. This photo shows an elderly Blaan tribal woman weaving the exquisite mabal tabih fabric at the Lamlifew Village Museum in Malungon town, Sarangani province.

PHOTO BY LUALHATI PEREZ, SARANGANI LGU

Launched in 2007 at the National Museum by the Lamlifew Tribal Women’s Association, it was also hailed by the Department

of Tourism Region 12 as the Best in Tourism Product: Heritage Conservation at the first SOX Awards in 2016.

Department of Energy green lights 42 battery-energy storage projects

By Lenie Lectura

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@llectura

HE Department of Energy (DOE) has recently cleared 46 power projects, mostly battery-energy storage (BES), which could generate over 2,500 megawatts (MW) for the conduct of a grid im-

pact study (GIS).

A clearance for the conduct of a grid impact study is necessary for a power firm before it can proceed with the construction of its power project.

Based on the list released by the DOE for June and July this year, 42

of the 46 power projects are BES, which can store energy via use of a battery technology for use at a later time.

Of the 41 BES, 21 are from Limay Power Generation Corp., formerly SMC Global Power Corp. Each of its BES has a capacity of 20 MW.

Global Business Power Corp., meanwhile, proposed 14 BES projects that vary from 7.5 MW to 20 MW each.

Six BES projects are proposed by Horus Solar Energy Corp. and the remaining one BES is from Juxtapose Ergo Consultus Inc.

T he approved g r id impact studies also include the 600-MW Cabatang Tiaong solar power project of Solar Philippines Commercial Rooftop Projects Inc., the 620-MW Bataan combined-cycle plant of Panasia Energy Inc., the 81-MW San Isidro wind-power

project of 6 Barracuda Energy Corp. and the 36-MW Mahanagdong geothermal binary power plant project of Energy Development Corp.

Their applications for the conduct of GIS were approved by the DOE in June and July this year.

A4 Wednesday, August 21, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Hike in prices of construction materials slower in July—PSA

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By Cai U. Ordinario

@caiordinario

HE increase in the wholesale prices of construction materials sold in Metro Manila was slower last month due largely to the decline in steel prices, according to the latest data released by the Philippine Statistics Authority (PSA).

Based on the preliminary Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region data, the PSA said construction material prices rose by 3 percent in July, slower than the 4.8 percent recorded last year and the

3.2 percent recorded in June.

The CMWPI posted an average growth of 3.3 percent in the January to July period this year.

“Annual declines were still observed in the indices of reinforcing and structural steel at 0.1 percent;

and doors, jambs, and steel casement, 0.2 percent,” PSA said.

The PSA said the wholesale prices of concrete products and cement, hardware, lumber and galvanized iron sheets also grew at a slower pace in July. The same trend was seen in the prices of tiles, electrical workers, and plumbing fixtures and accessories/waterworks.

On a monthly basis, PSA data showed that the CMWPI contracted 0.3 percent in July, a reversal of the 0.3-percent hike recorded in June.

PSA data showed that concrete products and cement posted the largest contraction of 1.8 percent in the CMWPI. This was followed by hardware, tiles, electrical works, and plumbing fixtures and accessories/waterworks.

“Also, contributing to the downtrend were the slower monthly upticks noted in the indices of lumber

and GI sheets at 0.2 percent and 0.4 percent, respectively,” the PSA said.

The agency said the increments in the indices of sand and gravel and PVC pipes were higher at 0.8 percent and 3.1 percent, respectively.

From monthly declines in the previous month, the indices of plywood rose by 0.2 percent; painting works, 0.4 percent; and fuels and lubricants, 2.2 percent.

The index of reinforcing steel went up by 0.6 percent in July from zero growth in the previous month.

The rest of the commodity groups recorded zero growth.

The CMWPI is a variant of the General Wholesale Price Index that measures the changes in the average wholesale prices of construction materials. It is used for the computation of price escalation of construction materials for various government projects.

www.businessmirror.com.ph

‘More reforms needed to improve PHL irrigation’

I

MPROVING irrigation in the Philippines will entail more than just the creation of an apex body for water, a consultant of state-run think tank Philippine Institute for Development Studies (PIDS) said.

In a Policy Note, PIDS Consultant and University of the Philippines-Los Baños Professor Emeritus Agnes Rola said reforms in water-related institutions will help improve irrigation systems.

The National Economic and Development Authority (Neda) is pushing for the creation of a separate department dedicated to managing and regulating the country’s water resources.

“While this may mean strengthening the NWRB [National Water Resources Board] as the apex body, the mandates of existing water agencies and sectors should also be reviewed,” Rola said.

“Their existing roles and responsibilities would have to be reoriented for them to be synchronized with

the regulatory and policy-making role of the proposed water apex body,” she added.

Rola, nonetheless, considers the creation of an apex body for water as a “proactive step” undertaken by the government to implement reform in the sector.

She said at least 13 national agencies play a part in irrigation water governance. This includes the Neda, NWRB, National Irrigation Administration (NIA), the Department of Agriculture’s Bureau of Soils and Water Management, and the Department of Agrarian Reform.

Other agencies involved in irrigation water governance are the National Power Corp., the Department of Environment and Natural ResourcesRiver Basin Control Office (DENRRBCO), Department of the Interior and Local Government, the Department of Budget and Management, Local Water Utilities Administration, and Metropolitan Waterworks and Sewerage System. Cai U. Ordinario

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Wednesday, August 21, 2019 A5

BIR to accept tax payments via electronic funds transfer

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By Cai U. Ordinario

@caiordinario

ILIPINOS can now pay their taxes online using electronic funds transfer through a new digital tax payments system launched by the Bureau of Internal Revenue (BIR).

Finance Undersecretary Antonette C. Tionko was quoted in a statement as saying the system—called Philippine Electronic fund transfer System and Operations Network, or “PESONet”— aims to cut red tape and improve the ease of doing business to better serve the public and attract more investors.

She added the PESONet-enabled tax payments service is a first in government and marks the start of the use of interoperable digital bills payment for taxes and other utilities in the country.

“Under this initiative, the BIR is the first government biller institution to pilot and adopt the interoper-

able digital bills payment service for tax collection,” Tionko said. “This will help achieve the Duterte administration’s goal of financial inclusion for all Filipinos while improving the ease of doing business in the country.”

Tionko said that with the soft launch of the digital tax payments service, the BIR will be the pilot “biller,” while tax collection/payment will be the pilot “bill.”

The Land Bank of the Philippines (LandBank) and the Rizal Commercial Banking Corp. (RCBC) are the pilot participating banks that will process the electronic collection of the taxes.

Tionko said the Department of Finance is working with the BIR to increase the number of participating banks that will process tax payments via PESONet. “The success of the pilot will allow the BSP to confidently approve the expansion of this service to all interested financial and commercial institutions,” Tionko said.

Finance Secretary Carlos Dominguez III said online tax payment is consistent with the aims of the Duterte administration to make tax payments and business transactions in the country more convenient and inexpensive.

Tionko said the PESONet will also improve the efficiency of the collection of tax and nontax revenues for the government, and facilitate the public’s payment of bills any time of the day.

A Household Payments Baseline Survey conducted in 2016 showed that 73 percent of Filipinos pay their household bills (e.g., utility bills), and about 9 percent of them pay the government directly for taxes, social security contributions, business permit fees, and licenses and permit fees.

Both businesses and individuals

make 4 million monthly payments to the government for taxes, business permit fees, licenses and social security contributions with an estimated value of $3.87 billion, the same survey showed.

BIR Commissioner Caesar R. Dulay earlier said with the launch of the PESONet-enabled service, the bureau will be able to serve more taxpayers and comply with the mandate of the law on the ease of doing business.

Dulay said this will help the country achieve a credit rating of “A” from credit rating agencies. The Philippines received its highest credit rating of BBB+ from Standard & Poor’s Global Ratings (S&P).

This rating is two notches higher than the minimum investment grade of BBB and only a step away from the “A” rating accorded the world’s most stable economies.

“And with great hope, we will be able to transition from a ‘Triple B Plus’ [credit rating] to perhaps an ‘A’-graded economy,” Dulay earlier said at the soft launch of the PESONet-enabled tax payments service last week.

LGUs near Subic Freeport Zone UnionBank receive ₧203.14-M revenue share launches 8 more

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UBIC BAY FREEPORT—Eight local government units (LGUs) adjoining the Subic Bay Freeport Zone received a total of P203.14 million from the Subic Bay Metropolitan Authority (SBMA) as their shares in the revenue collected from business locators in this economic growth center.

SBMA Chairman and Administrator Wilma T. Eisma distributed the check payments to LGU executives during a lunch meeting on Monday at the Subic Bay Yacht Club. Eisma also urged recipients to use the funds to further develop their communities.

The releases comprised of the following: P47.24 million for Olongapo City; P31.05 million for Subic, Zambales; P26.34 million for San Marcelino, Zambales; P25.26 million for

Dinalupihan, Bataan; P21.15 million for Hermosa, Bataan; P19.01 million for Castillejos, Zambales; P17.65 million for Morong, Bataan; and P17.41 million for San Antonio, Zambales.

According to SBM A records, Monday’s releases brought the total amount received by LGUs to P2.07 billion since February 2011 when the SBMA started directly releasing the revenue shares to them.

The shares given in August are derived from 2-percent of the 5-percent gross income taxes collected from business locators in the Subic Bay Freeport Zone from January to June each year.

Shares from collections in July to December are released in February.

Eisma said the revenue shares are given to augment LGU resources and

“enable stakeholder communities to carry out development projects in health, education, peace and order, and livelihood generation.”

However, she admitted the SBMA doesn’t have the means to determine how the LGUs use the shares. “While we don’t have any means to determine how the shares are utilized, we hope that these will be used for the communities to keep pace with developments in the Subic Bay Freeport,” Eisma said.

Olongapo Mayor Rolen C. Paulino Jr. promised to use the shares for development projects that would benefit the people of the city. Subic Mayor Jonathan John F. Khonghun said he would use their share for scholarship grants to deserving residents of his municipality. Henry Empeño

Decision-making process W

E all have to make decisions daily and each decision may not be the same all the time. The decision-making process depends on many factors, such as the current situation or need, the available options, the urgency, the experience and preference of the one making the decision and the significance or scale of the decision to be made.

Typically, when a significant or important matter needs to be decided upon, much more thought and attention is needed in coming up with a decision. Deciding on what dessert to get from a restaurant menu may be made on an impulse but buying the restaurant itself will require much more thought, deliberation, study and due diligence. Deciding on the dessert may take a minute but a more significant decision will definitely take a much longer period of time.

Let us focus on making more important decisions, such as career choices, buying a house or car, investing your life savings and major business matters. Even in making such critical decisions, a correct decision may not be the same for different people. Coming up with a correct decision for you will depend on your experience, capability, ability, objective and risk appetite.

Your experience which includes your background, education and career teaches you many

FREE ENTERPRISE George S. Chua lessons in life, both successes and failures. Typically, you pattern your choices based on what your experience tells you. However, it is always good to keep in mind that a winning formula in the past may not necessarily yield the same results in the future.

This is because of many factors that may have changed, different circumstances, as well as how you may have evolved.

People’s capability and ability also have a big impact on the decision-making process. A specific decision may have catastrophic consequences for someone but the same decision may work out wonderfully for someone else with a different skill set, more resources and has a better way of doing things. Know your own limitations and your areas of expertise; make decisions that will tilt things in your favor by making choices that minimizes your weakness and maximize your strengths.

Your objective will also determine your decision-making pro-

cess. Different people may have different objectives, some people may have short-term priorities while others may have long-term goals. While the objectives of certain decision-makers may seem flawed to us, it is possible that we do not have access to certain information or see the complete picture from the point of view of the decision-maker. The only way to ascertain this is by knowing what the objective is and based on the decisions made, see if the objectives are met.

The ability to assess risk and knowing your risk appetite or how much you could afford to lose also determines how and what decisions you make. Naturally, there is the direct relationship between risk and return, the higher the risk, the higher the expected rate of return. The key is to properly determine the amount of risk and the potential return to establish if you are properly compensated for the risk you are taking and knowing if you can afford to take that kind of risk.

Knowing and understanding the decision-making process will help you in making the right decisions.

In turn, making the right decisions are critical in creating wealth and providing for your future.

Comments may be sent to georgechuaph@yahoo.com.

fully digital branches in PHL

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BOITIZ-LED Union Bank of the Philippines Inc. said it launched eight more fully digital branches (FDBs) in key locations in Metro Manila, Luzon and the Visayas.

This brings the bank’s total number of FDBs to 25, the first of which was launched in September 2017, 11 in 2018 and another five early this year.

The company said its FDBs were in Iloilo, San Fernando, Pampanga, Biñan, Carmona and Pasay.

This is aligned with our objective to have at least one FDB in every province or city, it said.

During the launch of the new branches, UnionBank Senior Vice President and Chief Customer Experience Officer Ana Maria A. Delgado said the lender is bringing its clients to the future of banking.

“Our digital queueing system has reduced transaction time for our major transactions by half. On top of making it faster, we are making our clients feel special, as we call them by names instead of numbers,” Delgado said.

“And because we are digital, we have been able to eliminate the use of paper, and in the first half of July, we have processed over a hundred thousand paperless transactions.”

The FDB focuses on providing exemplary customer experience in all touch points in the branch—from self-service machines to tablets and branch ambassadors, according to the bank. To make the experience more relevant, each branch is designed to prioritize services that match the needs of the clientele depending on the location.

“Sitting here today and experiencing what I have experienced in the last few weeks here in the bank, it’s like saying ‘Houston, the eagle has landed,’” UnionBank President and CEO Edwin R. Bautista said, referring to the iconic phrase made when the first men on the moon landed their craft.

“It is appropriate because it is the end of the decade and we’re a year ahead of schedule. And it’s not just this. Last week we also introduced the first stable coin in the Philippines, and the first pilot for a blockchain-based funds transfer, cross-country by a bank in Southeast Asia.

These are all major milestones,” Bautista said.

UnionBank opened its first FDB at Ayala Avenue in Makati. The country’s first fully digital and paperless branch has won numerous recognitions around the world, including Best Branch Customer Experience in the AsiaPacific at the Retail Banker International Customer Experience Financial Services Awards, Top 14 best bank branch designs in the world by finance web site The Financial Brand, and Most Innovative Digital Branch Project by The Asset Triple A Digital Awards 2018.

A6 Wednesday, August 21, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Fortify PHL defenses against animal diseases

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HE rapid increase in population has led to the expansion in animal production not only in the Philippines but also in other Asian countries.

As output expanded, so did the outbreaks of animal diseases, such as avian influenza (AI), foot and mouth disease, and swine flu. These outbreaks have killed hundreds of millions of animals and crippled poultry and hog industries.

Luckily for the Philippines, it was spared from AI, at least for 14 years, after the virus resurfaced in Asia. Experts said the country’s climate and its topography allowed the Philippines to dodge the AI bullet. The threat, however, was just around the corner simply because the country’s borders remained open to products from AI-affected areas.

The government made good use of the time it was AI-free by crafting a manual that would guide authorities and other stakeholders in the event of an outbreak. Despite this, the government still encountered problems in implementing interventions under the manual after the virus struck a farm in Pampanga in 2017. For instance, in the first few days after the AI outbreak was announced, the Department of Agriculture (DA) was ill-prepared to handle the immediate culling of chicken, as indicated in the manual, forcing officials to seek the help of the military.

Two years after the bird flu outbreak, the livestock and poultry sector is again facing another nightmare, this time in the form of a “mysterious” disease killing hogs. The DA would not identify the disease, preferring to wait for the results of confirmatory tests from an undisclosed institution, but Taiwan suspects it is ASF (See, “Amid suspected African Swine Fever outbreak in PHL, Taiwan to check all carry-on bags of Filipino travelers,” in the BusinessMirror, August 18, 2019). Pending the results of these tests, backyard hog raisers will have to brace for tougher times ahead as the uncertainty is killing the appetite of consumers for pork (See, “Raisers, retailers fear ‘mysterious’ hog disease,” in the BusinessMirror, August 20, 2019).

The spread of this “mysterious” pig disease should serve as a wake-up call for our policy-makers. The government can no longer hold off investments in animal disease prevention and control. This is because animal diseases, such as AI and African swine fever, have the potential to wipe out the gains of the livestock and poultry sector in recent years. The spread of these diseases could also disrupt food supply and raise prices and force the government to rely on foreign markets to fill the country’s pork requirements.

We call on the government to set aside funds to strengthen the capability of the local livestock and poultry sector to fight animal diseases. Hog raisers have been urging the government for years to set up state-of-the-art animal diagnostic laboratories that would ensure the prompt diagnosis of emerging animal diseases. The government should now consider the hog raisers’ appeal as it is less costly to prevent the spread of diseases than to clean up and disinfect afflicted farms.

As outbreaks of animal diseases have been increasing in recent years, policymakers should now establish a compensation scheme for poultry growers and hog raisers and expand agricultural insurance. Backyard raisers, who do not have the huge resources of their commercial counterparts, will benefit from this scheme and allow them to get back on their feet. The government should also set aside emergency funds that the DA can tap in cases of outbreaks so it could implement its contingency plans immediately.

No hegemon in this region of the world Teddy Locsin Jr.

FREE FIRE Continued from A1

B

UT our main concern is Asean centrality and the South China Sea, along with the seas up north, and the Western Pacific. Unless these immediate areas are secure, open and free, we are stretching our attention, concern, and resources farther than they can produce appreciable effects. We open ourselves to misinterpretation, mistrust and miscalculation. If we look too far out, we may miss what’s under our noses. Under the pretense of wider concerns, it gives an excuse not to attend to the immediate, with the urgency its proximity demands. The problem with the big picture is that the devil is in the details closest at hand.

(Issue: SCS) On the South China Sea, the Philippines believes that every country with access to that body of water must respect all aspects of the sov-

ereignties of all the others. We have yet to see how trenching on the sovereign rights of other countries can be sustainable, let alone profitable in the short or long term—rather than

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Aurora C. Ignacio

All About Social Security

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UNNING a household, which includes doing household chores and taking care of the family members, takes a lot of time and energy. It is even harder when you are working full-time and still have to tend to your household duties and your children.

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

self-defeating. We have heard all the tired slogans that are just variations on the theme of historical necessity; they do not arouse the mildest fear or interest on our part. It is pretty clear that there will never again be a hegemon in this or any other region of the world. The days of hegemony—one or several—along with spheres of influence are over.

The terrible wars that afflicted our region showed both the extremes to which violence can go, and the narrow limits of what it can achieve—and even those are

‘Kasambahays’ are covered by SSS

Since 2005

✝ Ambassador Antonio L. Cabangon Chua

On the South China Sea, the Philippines believes that every country with access to that body of water must respect all aspects of the sovereignties of all the others. We have yet to see how trenching on the sovereign rights of other countries can be sustainable, let alone profitable in the short or long term— rather than self-defeating.

To many working women, household help or kasambahays are a blessing. Many kasambahays have stayed with their employers for many years and have become like an extended family member.

On September 1, 1993, Republic Act 7655 was enacted into law, mandating the coverage of household helpers under Social Security System. The passage into law of RA 10361 or the Batas Kasambahay on January 18, 2013, strengthened the social protection of household helpers with legislated terms on employer contribution and coverage under SSS, Philippine Health Insurance Corp.

(PhilHealth), and the Home Development Mutual Fund (Pag-IBIG).

A kasambahay has an employment contract with his or her employer. This employee-employer relationship mandates that a kasambahay be registered by his or her employer as a worker to SSS within 30 days from first day of employment. As a member of SSS, a kasambahay is entitled to seven benefits, including sickness,

maternity, unemployment, disability, retirement, funeral and death claims. Kasambahays are also covered by the Employees’ Compensation Program for work-related illnesses or accidents.

The household employer shoulders the full SSS contribution when the kasambahay earns a monthly income of P5,000 or less.

Sadly, despite the many years of the existence of the law, many household employers do not report their kasambahays to SSS for coverage and, worse, do not remit their monthly contributions. Coverage of kasambahays is a continuing challenge for SSS. Today is the best time for employers to show their kasambahays their appreciation and gratitude by paying all their unpaid SSS contributions through the ongoing Contribution Penalty Condonation Program (CPCP). The program will end on September 6, 2019. You can pay the contributions of your kasambahay without penalty regardless of the

Sadly, despite the many years of the existence of the law, many household employers do not report their kasambahays to SSS for coverage and, worse, do not remit their monthly contributions. Coverage of kasambahays is a continuing challenge for SSS.

number of years that he or she has served your household.

The CPCP is one of the provisions in RA 11199 or the Social Security Act of 2018 that mandates the condonation of contribution penalty of employers for six months from the effectivity of the law in March. The new law also brought down the penalty to 2 percent from the previous 3 percent. Those who will avail themselves of the CPCP can opt to pay in installment mode up to a maximum of 48 months. Initial payment is only a minimum of 5 percent of the principal amount of unpaid contributions.

To illustrate an actual case, Shiela (not her real name) started working for her employer as a kasambahay in January 2016 with a monthly income of P3,000. Her employer only registered her to SSS and started paying her contributions in January 2019. In effect, she has 36 months of unpaid contributions from January 2016 to December 2018. If not for the CPCP, her employer would have paid a total of P20,849.40. But because of CPCP, her employer only paid P11,880 of unpaid contributions. The penalties amounting to P8,969.40 were waived.

With more than 36 months of

fleeting. Yesterday’s mortal enemies are today’s indispensable allies— what waste of lives. It’s a tired cliché but true, cooperation is the only way through; mutual benefit is the only promising basis for any connection. Threats don’t work. To acclaim oneself supreme or even superior in the near or long term, has become poor taste.

Those days are over. Parochialism is dead. Present and future generations in all countries don’t look inward with satisfaction or back to the past with envy; they look only to the future with greater expectations than anything the near and present can offer. They look at the world and the future as their real homeland. That said, most countries today would be dominated by foreign powers without American exceptionalism—expressed in its unwavering, selfless because unrewarding commitment to right and law in international affairs—with substantial investments in realizing that commitment. Thank you.

contributions, Shiela is qualified for maternity, sickness, unemployment, disability, funeral and death benefits. With continuous SSS contributions, she will be entitled to a retirement pension.

Others who may also apply under the CPCP are delinquent employers who have pending or approved proposals under the installment scheme of SSS, including those with pending or approved applications under the program for acceptance of properties through dacion en pago; employers with cases pending before the Social Security Commission, Courts or Office of the Prosecutor; and employers who have settled all contributions before the effectivity of RA 11199 but with unpaid penalties as well as those who were given a Warrant of Distraint/Levy/Garnishment or encumbrance.

To avail themselves of CPCP, delinquent employers must visit their nearest SSS branch for assessment of their account. Those who wish to pay through installment may submit an installment proposal to the Head of the SSS Branch/Office or Large Account Department.

Our kasambahays are our daily warriors at home, ensuring everything is in order while we are busy at work. Giving them social protection against life’s contingencies is one of the best ways to show that we care for them.

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

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Opinion

The month for ghosts

Dissolution of Ficco Mutual Benefit Association Inc.

BusinessMirror

Atty. Dennis B. Funa

Susan V. Ople

INSURANCE FORUM

SCRIBBLES

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CCORDING to Taoist and Buddhist beliefs, the seventh lunar month is when ghosts or spirits who passed on and are ignored by their loved ones come visiting with their energy and powers at its highest peak. Natural and man-made disasters are more prone to happen during Ghost Month. Business decisions and even the most personal and critical ones are best put off until that dreaded month is over. Legend has it that if you swim in the deep blue sea during Ghost month, the spirits who died of drowning will come and drag you toward the deepest end. Ghost month covers the entire month of August.

Two weeks ago, my elder brother, Toti, had a corner lot in our ancestral house in Hagonoy, Bulacan, cleared of debris, weeds and rotten wood. It has been some time since anyone has entered that forlorn and abandoned side of the property. While cleanliness will always be a virtue, it now seems foolhardy to have just cleared the space without seeking permission from the spirits that live there.

Supernatural things started to happen as the clearing continued.

According to my brother, the bedroom windows on the second floor of our old house were pummeled with stones thrown outside by no one. One day, he came home to a living room filled with broken glass. Someone broke the chandelier and shattered the sliding door. Who did it? The moving shadows, a little boy who tagged along with our cleaning lady said. The shadows did it, he said.

My brother asked a priest from Saint Anne’s Shrine to come over and bless our place. The young priest did, and as he passed through the living room and into the kitchen, praying and sprinkling Holy water in the air, four empty dining room chairs fell backwards. Now, these chairs are made of wood and are quite heavy.

The priest and other family members (I was thankfully not there when this happened) were shocked, but the blessing continued.

The little boy who tagged along with our cleaning lady, though not his mom but someone who cares for him as if she was, said that the father of the spirit family can be found in my brother’s bedroom. He was tall, the little boy said, and very dark. The spirit family had a dad, mom and a little boy as members. That was what the little boy said.

Just the other night, my brother, a man of courage, addressed the tall, dark spirit, daring him to show himself and to talk to him, man to man. After saying those words aloud, as the dark evening held our old house in a tight, silent embrace, my brother’s little dog started to howl.

Now, that dog seldom barks. The blood-curdling howl coming out of such a tiny dog made my brother’s skin jump. He ran. The dog ran with him. After 20 minutes of cowardice, my brother (and his dog) decided to return to the bedroom. It was as he left it, except all the drawers and cabinets were flung wide open.

My niece who also lives in our old

house said that, perhaps, the little boy had something to do with how the spirits were reacting. While we know that our house had its ghosts, they rarely make their presence felt.

It was a happy coexistence between spirits and humans. None of the dogs seemed to mind our hometown ghosts, except recently, and when the little boy happened to be visiting. So, could it be the little boy?

Were our ghosts warning us about the little boy?

The priest who blessed our house advised my brother to make sure to bring the little boy to church. He also said for us to add more lights to the house. My brother started to observe the little boy. He saw the little boy in our garden, turn around and went into a crouching position to face a snarling dog. It was like he was one of them, without the fur and the tail.

He then saw the little boy climb up our bayabas tree at lighting speed to perch on one of its highest branches.

This was an extraordinary boy.

On Monday, I told my brother that August is ghost month when spirits are at their most sensitive with the highest energy peak. He gave a feeble smile. The pebbles kept hitting the jalousies of his bedroom window, he said. The spirits wandering around our backyard have quite a good aim.

These were extraordinary spirits.

Observers of ghost month say that children, senior citizens, and people with a weak disposition should not go out at night lest evil spirits attack them. There are feng shui stores that sell amulets to ward off these evil spirits. Old people in our hometown also talk about rituals to restore peace to the spirits’ restless and sometimes angry souls.

As I write this column, the little boy who keeps tagging along with our cleaning lady has yet to enter our local church. The throwing of pebbles continues. My brother is hoping that the blessing of our house and the backyard just the other day would result in some peace and quiet. Last night, I prayed to God to bless our old house and all its inhabitants. I believe in the power of prayer.

Still, I look forward to September.

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

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ICCO Mutual Benefit Association (MBA) was based in Cagayan de Oro City. It was organized by members of the First Community Cooperative (Ficco) to extend financial assistance to its members, their spouse, children and parents in the form of death benefits, provident savings and loan redemption assistance. The MBA was incorporated on August 23, 2007, and obtained its IC Certificate of Authority on November 8, 2007.

In Ficco MBA General Assembly Resolution 01-2014, 01-2015, 01-2017, it resolved to dissolve the organization with an affirmative vote of two-thirds of its members with the intention of merging with the Cooperative Insurance Society of the Philippines. The membership General Assembly actually voted unanimously. Its Board of Trustees furthermore approved a resolution to cease its operation by June 30, 2015, and that no more

Bloomberg Opinion

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TALY is famous for its spells of political trouble, and the twists and turns of this summer’s government crisis are no exception.

Last week the country was staring at the prospect of a new national election, which looked set to crown Matteo Salvini, leader of the hardright League, as prime minister. Now a coalition between the populist Five Star Movement (the League’s current ruling partner) and the centerleft Democratic Party has emerged as a genuine possibility. That would avoid the need for an election as Five Star would simply swap one set of coalition allies for another.

There’s much to worry about with Salvini, from his anti-immigrant

views to his flirtations with wanting to quit the euro. But a “yellowred” partnership between Five Star and the Democrats would hardly fix Italy’s ills.

Salvini clearly mistimed his electoral power grab. He could have pulled the plug on the government right after the elections for the European Parliament at the end of May, when his party won more than onethird of the votes. Instead he waited until August, when the League presented a motion of no confidence in Prime Minister Giuseppe Conte. The summer break meant the proposal could only be discussed this week, allowing time for Salvini’s weakened opponents to gather their forces.

There are also doubts about whether elections can be held in the autumn since there might not be

The dissolution of Ficco MBA was approved by the Insurance Commission on December 10, 2018. All the investments made by Ficco MBA will be denominated as Ficco 2 investment with CISP in order to distinguish it from the original investment made by Ficco Cooperative with CISP, which will be denominated as Ficco 1.

Benefit Association Inc. As agreed upon, CISP will continue to provide similar insurance services previously provided by Ficco MBA to its members.

Under this MOA, all of the assets, liabilities and equity accounts of Ficco MBA as of June 30, 2015, will be transferred to CISP. The Members’ Equity Value, Accumulated Retained Earnings and Guaranty Fund will be invested with CISP. Under the agreement, CISP preferred shares will be issued in the name of the individual members in exchange for the

Members’ Equity Value, representing 50 percent of the premium contributions of the members. The Accumulated Retained Earnings and the Guaranty Fund will be invested in exchange for CISP common shares, which will be issued in the name of the Ficco Cooperative instead of the individual members.

All the investments made by Ficco MBA will be denominated as Ficco 2 investment with CISP in order to distinguish it from the original investment made by Ficco Cooperative with CISP, which will be denominated as Ficco 1. Finally, members that wish to withdraw will be entitled to the book value of their investments subject to Article 30 of Republic Act 9520, otherwise known as the Cooperative Code, on the termination of cooperative membership. The dissolution of Ficco MBA was approved by the Insurance Commission on December 10, 2018.

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

E-mail: dennisfuna@yahoo.com.

US immigration policy was cruel long before Trump

must have been received by the applicant; it’s irrelevant whether assistance has been provided to members of the applicant’s family.

Similarly, once the applicant has crossed the border, the assertion that he or she is likely to become a public charge cannot be mere speculation. The administration’s new approach may be ungenerous, but it may also prove to be consistent with the precedents.

And that’s the real problem.

By focusing on the new rule, critics are letting immigration law itself off the hook. The bigger issue is in the LPC restriction itself, which by design, under Democrats and Republicans alike, has long excluded huddled masses yearning to breathe free. Even should the legal challenge to the regulation succeed, the bigger issue is the LPC restriction itself. As one scholar of immigration law has put it, “a prospective entrant must establish that he or she is and will continue to be a member of a particular socioeconomic class—most

definitely not poor or likely to ever become poor—to lawfully migrate to the United States.”

The statute grants a great deal of discretion to both consular officials abroad and immigration officers at home. During the run-up to World War II, the “public charge” rule was notoriously used to refuse entry to Jews seeking to escape the Nazi onslaught. Until fairly recently, the same broad discretion was often used to prevent the entry of gays and lesbians, who were often considered more likely to become public charges. Today, there’s reason to think that the exclusion falls particularly hard on people of color.

Moreover, there’s reason to think that the rule has been applied differently to men and women. The historian Martha Gardner, in her book The Qualities of a Citizen: Women, Immigration, and Citizenship, 1870-1965, points out that historically the LPC restriction tended to reflect “a constrained and diminished evaluation of women’s role in the economy.” In particular, “women arriving during the early 20th century who were alone, pregnant or with children” were “routinely” excluded as LPC—without regard to “their work skills.”

Decades ago, this gendered application of discretion—which some say continues to the present day— ensnared my family. In 1910, my great-grandmother, Addie Hunton, was returning to the country after two years of studying philology at a German university. Accompanying her were her two children (my grandmother and my great-uncle).

Although Addie lived in Brooklyn and was a US citizen, her husband was Canadian—and her passport, in the tradition of the times, was an extension of her husband’s.

The immigration officer looked at her passport and her children and the color of her skin, and decided she was a likely public charge. He would hear no argument about her skills. It made no difference that until she headed to Europe to study, Addie had been gainfully employed in the US. The family was detained.

Even today, horror stories about the exercise of discretion under the LPC rule are common. The legal scholar Kevin Johnson tells the story of an elderly Chinese woman who applied for a tourist visa in order to visit her grandchildren in the US before she died.

The application was denied on LPC grounds, and she died without seeing her family.

But the potential for arbitrariness and bias in the application of discretion is only one difficulty with the statutory exclusion of those likely to become public charges. The restriction is also inconsistent with the spirit of the bootstrap story we like to tell ourselves, the chance for everyone who lives in the US to climb the ladder of success. Those who clamor for admission to build better lives for themselves and their families seek to fulfill precisely this dream.

So if you’re angry about the administration’s new rule, it’s not enough to lambaste the president.

You should be fighting to change the underlying law.

It’s not evil for a country to prefer immigrants who are able to support themselves. We should always welcome those who bring along specialized skills that we need. But if we’re going to call ourselves the land of opportunity, we shouldn’t exclude those who we think might have to struggle a bit. Helping others along as they seek to rise is also the American way.

country so it’s perhaps unwise to leave it out of government. Of course, Italy’s a parliamentary democracy so it’s legitimate for Five Star and the Democrats to build an alliance, just as Five Star and the League did after last year’s election. But this sudden volte-face would give Salvini another opening to rail against the establishment and the political class—rather than force him to prove that he’s actually capable of governing.

Second, any Five Star and Democrat coalition would probably be short lived. The two parties have traded insults for months, as Five Star attacked the Democrats for being part of an old corrupt elite that ruined Italy, while the latter accused the populists of incompetence. They also have different policy agendas. Five Star has supported the League’s hard

line on immigration, which the Democrats oppose. Five Star also opposes infrastructure projects supported by the center-left. Any coalition would most likely break down quickly, paving the way for an eventual triumph of Salvini and the right.

Finally, the possible economic agenda of a Democrat-Five Star pact would make a left-wing populist like the British Labour Party leader Jeremy Corbyn proud. The two parties would probably press for more state aid when needed and for greater spending covered by even higher taxes. Italy already needs to find €20 billion ($22 billion) to avoid a planned increase in value-added tax, so there’s little room to increase the deficit to fund new measures.

The two parties may feel there are sound tactical reasons for

teaming up. The European Central Bank looks set to announce a new package of monetary stimulus in September, which would help push down the yields on Italian bonds. Salvini’s current strength may also falter at some point. He could, for example, face an internal revolt at the League as the party’s traditional base in the north may feel he hasn’t done enough to advance their economic interests.

This may explain why he is looking so scared of going into opposition, after taking to the beaches this summer to drum up support.

Nevertheless, the long-term strategy for the Democrats and Five Star is very unclear and that’s no way to revive Italy’s stagnating economy.

This summer’s political crisis may be the most absurd, yet. Unfortunately, it won’t be the last.

Stephen L. Carter

BLOOMBERG VIEW

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LOT of people on left and right alike got angry about the Trump administration’s new “public charge” rule, which would largely bar citizenship to millions of legal immigrants who have accepted certain forms of state assistance. Certainly the policy seems cruel. Nevertheless, critics are focusing on the wrong target. If it’s wrong to deny green cards to immigrants because they’re poor, it’s hard to see why it’s right to deny entry to potential immigrants on the same basis. Yet, we’ve been doing exactly that in practice for nearly two centuries, and the denial has been codified in federal law since 1882.

The new regulation, which runs to more than 200 pages in the Federal Register, is an interpretation of Section 212(a)(4) of the Immigration and Nationality Act, which provides that no immigrant shall be admitted to the country if he or she is “likely at any time to become a public charge.”(1) This rule, sometimes called the LPC restriction, is the ground most frequently invoked for excluding potential immigrants and visitors. The administration’s new interpretation holds that a person who has received specified public benefits while in the US fulfills the criterion for being a public charge, and is, therefore, inadmissible. And under existing law, an inadmissible immigrant, even if a resident, cannot receive a green card.

In other contexts, the courts have allowed the use of the “public charge” provision to deny adjustments to the status even of immigrants already in the country.

True, there are limits. For example, the disqualifying public assistance

Italy stumbles into its next absurd crisis

By Ferdinando Giugliano

contributions or premiums payments shall be accepted from its member thereafter. What is peculiar with this merger is that CISP is not an MBA but rather a cooperative insurer. This is the first of its kind where a MBA has merged with a cooperative insurer.

A memorandum of agreement (MOA) was signed between the Cooperative Insurance System of the Philippines, Ficco and the First Community Cooperative-Mutual

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enough time for the new government to put together a budget for 2020.

The Democrats, who feared inevitable defeat in an election, seem open to striking a ruling pact with Five Star instead—either just to pass a budget or for a longer-term coalition. Five Star, whose support has collapsed in the polls, is reveling in the opportunity to strike out at the League and to act as kingmaker once again. All options remain on the table and it might be unwise to bet against Salvini given his popularity with voters. But his dithering means the prospect of a yellow-red government is a much more realistic prospect than it was barely a few months ago.

Yet, this combination would be pretty dangerous for Italy for at least three reasons. First, the League is by far the best-supported party in the

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Duterte warns alien ships vs sneaky passage

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By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte on Tuesday issued a stern warning to foreign vessels passing through Philippine waters without clearance from the government, saying the Philippines could go as far as enforcing the order in an “unfriendly manner.”

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said all foreign vessels must first get the clearance from the proper government authority before their actual passage.

“To avoid misunderstanding in the future, the President is putting on notice that beginning today [Tuesday], all foreign vessels passing our territorial waters must notify and get clearance from the proper government authority well in advance of the actual passage.

Either we get a compliance in a

“If we accost jaywalkers and fine drivers who change lanes abruptly, then why should we not demand the same observance of our laws from vessels who will cross our country?”—Recto

friendly manner or we enforce it in an unfriendly manner,” Panelo said in a statement.

This comes after a Chinese coast

guard vessel was spotted by the military in Ayungin Shoal, which is within the Philippines’s exclusive economic zone.

Foreign Affairs Secretary Teodoro Locsin Jr. also said that he has also ordered the Department of Foreign Affairs (DFA) to lodge a diplomatic protest over the intrusion of Chinese warships in the country’s waters. Appearing before the Senate foreign relations panel on Monday, he said the government will keep lodging protests as often as intrusions are made.

Locsin said he received a report from Defense Secretary Delfin Lorenzana on repeated intrusions of Chinese warships in waters well within the Philippine territory.

Sought for clarification on what the Palace means by “unfriendly manner,” Panelo told reporters: “We’re saying that we will enforce it in an unfriendly manner, by that it means that we will ask them to move, to move out of the place.

That’s unfriendly. Because before we never said anything, we just See “Alien ships,” A2

House gives 3rd reading okay to higher excise tax on alcohol

By Jovee Marie N. dela Cruz

T

@joveemarie

HE House of Representatives on Tuesday endorsed for Senate approval a Duterte administration priority bill providing additional excise taxes on alcohol products, heated tobacco and vaping products.

This after members of the lower chamber approved on third and final reading House Bill 1026 or Package 2 Plus B of the Comprehensive Tax Reform Program with 184 affirmative, 2 negative and one abstention.

The bill seeks to amend Sections 141, 142 and 143 of the Republic Act 8424, as amended or the National Internal Revenue Code of 1997.

Albay Rep. Joey Salceda, the pan-

el chairman, clarified that House Bill 1026 will give the government P17 billion in revenues lower than the DOF-DOH version, which will generate P32.94 billion.

Without reform, Salceda said there will be 30,579 alcohol-related deaths in a year.

“Sin products are equally dangerous to health regardless of socioeconomic status and this regressive tax is really meant to help the poor to stop consuming alcohol products,” Salceda said.

Also, the lawmaker said historical data show that higher excise taxes do not hurt the economy, noting that “despite the ‘sin’ tax reform in 2013, revenues of alcohol firms continued to grow while the inflation impact is additional 0.12 percent only.”

The bill seeks to increase the ex-

cise tax imposed on distilled spirits by P6.60, compared to what is implemented under Republic Act 10351 or Excise Tax Reform law on alcohol and tobacco.

Currently, RA 10351 imposes on distilled spirits a P22.40 specific tax and an ad valorem tax of 20 percent.

Bill’s provisions

UNDER the bill, starting January 2020, an ad valorem rate of 22 percent including specific tax rates per proof liter of P30, P35, P40, P45 from 2020 to 2023 will be imposed on distilled spirits; and it will be increased by 7 percent annually starting 2024.

The committee also approved a shift to a unitary rate of P650 plus ad valorem of 15 percent for sparkling wines, compared to the two-

tiered system under RA 10351. It will be increased by 7 percent annually starting 2024.

The bill said cooking wines with salt contents of not less than 1.5 grams for every 100 milliliter will be exempted from excise tax.

Meanwhile, the tax on still and carbonated wines with lower than 14 percent alcohol content was increased by P2.10 (from P37.90 to P40), while those with an alcohol content higher than 14 percent saw a P4.10 increase effective January 2020. It will be increased by 7 percent every year thereafter.

Also, the approved tax rate on fermented liquors was P28, P2.60 higher than the P25.40 tax rate mandated by RA 10351. It will be increased by 7 percent every year thereafter.

Tobacco products

LOW PRESSURE AREA ESTIMATED AT 1,025 KM EAST OF VIRAC, CATANDUANES SOUTHWEST MONSOON AFFECTING EXTREME NORTHERN LUZON as of 4:00 pm - August 20, 2019

UNDER the bill, heated tobacco products or the so-called e-cigarettes, will now be levied P45 per pack of 20 beginning January 1, 2020; P50 in 2021; P55 in 2022 and P60 in 2023; with a 5 percent yearly increase effective January 1, 2024.

For vapor products, the individual cartridge, refill, pod or container of their liquid solutions or gel will now be charged P10 per 10 milliliters (ml). If the product being sold is more than 50ml, it will be charged P50 excise tax plus P10 per additional 10ml.

The rates imposed on vapor products shall be increased by 5 percent every year effective January 1, 2024. The measure also provides excise taxes on nicotine salt and classic nicotine from P30 to P45 from 2020 to 2023, respectively, and additional 5 percent after 2024.

The bill also carries stiffer penalties on illicit tobacco trade, with the monetary fines.

Eighty percent of the proceeds from the taxes will be used exclusively for the implementation of the Universal Health Care (UHC) law and health programs to be determined by the DOH. The Department of Finance said the government needs P257 billion for the first year of the implementation of the UHC law in 2020.

Portions of the revenues collected shall also be allocated and divided among the tobacco-producing provinces and utilized exclusively for programs to promote economically viable alternatives for tobacco farmers and workers.

Passage hailed

MEANWHILE, the Sin Tax Coalition welcomed the passage of the Package 2 Plus B of the Comprehensive Tax Reform Program.

“Alcohol and tobacco products are leading causes of noncommunicable disease, and this measure will be a positive step in discouraging Filipinos from excessively consuming the product,” Sin Tax Coalition co-convener Dr. Anthony Leachon said in a statement. The coalition also called on the Senate to quickly approve the measure. “We hope that the legislators in the Senate also support the passage of this measure, and approve the highest tax rates possible,” Leachon added.

THE LEGEND LIVES ON Senator Grace Poe, daughter of the late actor Fernando Poe Jr., lights candles at his tomb as his widow Susan Roces looks on during the late actor’s 80th birth anniversary at the Manila North Cemetery on Tuesday (August 20). The vastly popular and multiawarded actor-producer-director, dubbed “King of Philippine Movies,” died in December 2004, months after his controversial loss in the presidential elections. ROY DOMINGO

Peza. . .

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poured in, taxes paid, employment generated, among others, during a certain period.

“Hence, Peza incentives are performance-based from the beginning, not an afterthought. [They aim] to motivate and encourage companies to upgrade, grow and perform. Peza has a validation process for this in order for locators and companies to avail themselves of tax incentives,” the Peza chief argued.

Comparing it to supply and demand economics, Plaza said the investment body only provides tax perks to activities and products that are needed in the market. Albay Rep. Salceda and Department of Finance (DOF) officials, in pushing for the passage of the Citira bill, had explained they intend to make incentives performance-based, timebound, targeted and transparent.

“In other words, incentives are not forever enjoyed by companies which fail to innovate and expand; thus, they lose the world buyers and

BOI. . .

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“Our investments are still growing amid the international tensions. We still have a lot of pending projects that need thorough study and evaluation. I am still confident that, by the end of the year, we are going to attain our target despite the global uncertainties,” he said.

Investments from local firms accounted for the lion’s share of 77.74 percent, or P243.2 billion, of total approvals during the period. Foreign capital made up 22.25 percent, or P69.6 billion.

“We assure foreign investors that the Philippines is a safe haven for their investments and they should take advantage of our very strong domestic demand and commit to long-term deals,” Rodolfo added.

Singapore tops list

AMONG overseas sources, Singapore topped the list with P35.4 billion to lead the Netherlands with P9.2 billion, Thailand with P8.6 billion, Japan with P5.8 billion and the US with P2.4 billion. Trade Secretary and BOI Chairman Ramon M. Lopez is expecting foreign investments to grow as a result of the passage of several business measures,

close shop,” Plaza said, alluding to Salceda’s blunt assertion that the Citira coverage of ecozones is meant to stop the practice of “forever” incentives.

Under the Citira bill, corporate income tax (CIT) will be reduced to 20 percent by 2029, from 30 percent at present, at the expense of incentives granted to locators. If signed into law, 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, within five years.

To facilitate ease of doing business, economic zone firms directly remit 2 percent of their GIE to the local government and 3 percent to the national government yearly.

Plaza warned the removal of the GIE as an incentive could result in corruption, leakages and inconvenience, as businesses will need to deal with various levels of bureaucracy in their shift to paying CIT. Echoing the Peza chief’s appeal, locators are asking legislators to exclude them from the coverage of the Citira bill and allow them to keep their incentives. Elijah Felice E. Rosales including the Ease of Doing Business law and the Innovative Startup Act. “With the recent signing of the Innovative Startup Act, we will encourage innovation that will make our products not only meet local demand, but also ensure it is [on a] par with international standards to boost our exports,” Lopez argued.

By sector, power made up for the bulk of the investments, accelerating 65.33 percent to P195.1 billion as of July, from P118 billion during the same period last year. Manufacturing more than doubled to P46.1 billion, from P19.8 billion, while information and communications technology jumped to P33.2 billion, from P340 million.

Investments in the hospitality sector soared nearly sevenfold to P9 billion, from P1.3 billion, while those in health activities were up 38.46 percent to P1.8 billion, from P1.3 billion.

Among the projects approved by the BOI in July were Cebu Air Inc.’s P1.7-billion Airbus plane project; AT Dinum Co.’s P1.4-billion 9.4-megawatt hydropower project in Nueva Ecija; and Coto Hydro Corp.’s P728-million hydropower facility in Zambales. The investment body also greenlighted the P410-million poultry dressing plant of Integrated Meat and Poultry Processing in Bataan and the P381-million low-cost housing of Borland Development Corp. in Batangas.

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Nlex’s new Bulacan road to speed up travel to north

By Lorenz S. Marasigan @lorenzmarasigan

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LE X Cor p. on Tue sd ay o p e ne d a 600-meter road that affords motorists a new northbound entry point in Bulacan, an area seen as the next growth hub given the major infrastructure developments in Central Luzon.

Public Works and Highways (DPWH) Secretary Mark A. Villar said the opening of the North Luzon Expressway (Nlex) Balagtas northbound entry in Bulacan will help facilitate faster and more convenient travel to the north, as it allows motorists to bypass local roads and the Santa Rita Interchange in Guiguinto, Bulacan.

“This project directly connects the people of Bulacan to Nlex,” he said. “This is an example of the effect of the ‘Build, Build, Build’ program.”

The DPWH and Nlex Corp. jointly built the P63-million road.

“We believe that good infrastructure is a crucial ingredient for growth as it boosts the productivity capacity of the economy,” Nlex Corp. President Luigi L. Bautista said.

The new road is seen to improve mobility and productivity, especially for those coming from Balagtas and those using the Plaridel Bypass from Guiguinto, Plaridel, Bustos and Baliwag.

AERIAL view of the Balagtas Nlex entry point in Bulacan. PHOTO FROM NLEX WEB SITE

For his part, Metro Pacific Tollways Corp. President Rodrigo E. Franco said the new road will further spur trade and investments in Bulacan. “ T his new gateway to t he north signifies Metro Pacific’s commitment to enhance countryside development and make

travel easier and more comfortable for everyone,” he added.

To further enhance the Bulacan road network and ease traffic congestion at the Bocaue Interchange, Nlex Corp. is likewise building the Tambubong Interchange.

It will sport a southbound entry and northbound entry and exit

toll plazas to serve as an alternate route for motorists bound for Santa Maria Pandi, Bulacan and nearby towns.

Nlex Corp. is a unit of Metro Pacific Investments Corp., which has investments in various toll road networks in the Philippines and Southeast Asia.

Lenovo banks on new device lines, products to stay on top

C

HINESE multinational tech company Lenovo is gearing up to retain its current standing as the top computer vendor in the Philippines through the introduction of new device lines and products.

To attain this goal, Lenovo has to continue introducing innovative products that match the market demand, according to Lenovo Philippines General Manager Michael Ngan.

“The strategy is very simple. It is to rely on the technology that we have been introducing into the market,” he said in an interview.

Lenovo gained the top spot in the PC market last quarter, according to the International Data Corp.

“We need to sustain that and I think the introduction of the new ThinkBook will help us to hopefully maintain that status,” Ngan said.

On Tuesday, Ngan led the intro-

duction of the Lenovo ThinkBook, a new line of commercial laptops, in the Philippine market.

Initially, the ThinkBook 13S will be available locally. The 13.3-inch laptop is equipped with an eighthgeneration Intel Core i5 processor, an 8GB onboard memory, and a 512GB storage. The ThinkBook 13S also sports a magnesium-infused aluminum finish and a fingerprint scanner.

Ngan said the ThinkBook line tar-

gets enterprises with a strong millennial work force, as the new product addresses the demand of the very agile lifestyle of the target market.

“Through the high performance and elegance of the ThinkBook, businesses will have an edge in attracting tech-savvy millennials and Gen Z workers, who grew up working, creating, and communicating online with stylish and premium devices,” he said. Lorenz S. Marasigan

GCash, Ortigas & Co. deploy QR code payment in Greenhills malls

G

CASH, operated by Globe Fintech Innovations Inc. (Mynt), has partnered with Ortigas & Co. to deploy QR code payment solutions at the malls in Greenhills, namely Shoppesville and V-Mall, to “transform the whole area into a cashless shopping center.”

Cathy Duenas, head of Leasing of Ortigas Malls, said her group

aims to entice the over 2,000 tenants of the 16-hectare mixed-use property in San Juan to go cashless via GCash QR. “We’re constantly striving to improve…part of this improvement is not only facilities-wise, but also improving the experience of our tenants. We think that them being able to accept cash-

less payments via GCash QR will bring more convenient and more efficient transactions,” she said.

Duenas added: “We’re looking forward to 100 percent of Greenhills being able to accept cashless payments.”

G C a sh P resident A nt hony Thomas said QR solves some merchant and customer pain points such as cash handling and ex-

changing notes and coins.

“GCash’s vision is to have a cashless society leading to finance for all. A part of this means being able to settle transactions with just your mobile phone,” he said.

The QR service of GCash is one of the most pervasive in the country with over 70,000 merchants included in its list of partners. Lorenz S. Marasigan

Honda recalls 14K cars on risks of air bag inflators to passengers

H

ONDA Motor Co. Ltd. has recalled for the second time over 14,000 Honda cars to replace their front-passenger air bag inflators that are prone to inflicting serious injuries to vehicle occupants.

In a letter dated July 31, Honda informed Trade Undersecretary Ruth B. Castelo it is recalling thousands of its units for a second replacement of front passenger air bag inflators. The vehicle assembler also said it will roll out a preventive measure campaign on the risks of driving five of its models produced between 2001 and 2009.

The Honda cars up for recall are 290 units of Accord (2003); 1,651 units of Civic (2001-2005); 225 units of Civic (2006-2009); 1,652 units of City (2003-2008); 38 units of City (2009); 9,551 units of CR-V (20032006); 145 units of CR-V (20072009); 500 units of Jazz (2002-2008); and 22 units of Jazz (2009).

Honda admitted there is a problem with the first replacement front passenger air bag inflator it installed on the affected units. There was a lapse in the production of the safety equipment that increased its risk of rupture during deployment and, therefore, could inflict serious harm on the driver and front seat passenger.

“It was determined that the supplier of the initial replacement front passenger air bag inflator had a problem in the manufacturing process that increased the risk of inflator rupture during air bag deployment, and may cause serious injuries to vehicle occupants,” the letter read.

“We deeply apologize for the situation. We have changed our

supplier of the air bag inflators, and seek to replace again the inflators of all affected vehicles,” it added.

Honda Cars Philippines Inc. (HCPI), the local dealer of Honda vehicles, was tasked to carry out the recall program and the preventive measure campaign.

“While there have been no reported cases or injuries due to this in the Philippines, HCPI, with our 42 authorized Honda dealers and service centers nationwide, will proceed with the replacement of the air bag inflators of the affected units as a safety measure. This will be free of charge for the vehicle owners and will take about one hour to complete,” the letter read.

Honda committed to inform the owners of the affected units about the recall, as well as find the buyers if the vehicles were sold or passed on to another person.

“We will duly notify the vehicle owners. If the vehicles have been sold or disposed of, we will ask assistance in getting contact information of the new owners,” the letter added.

HCPI is a member of Chamber of Automotive Manufacturers of the Philippines Inc. and is one of the leading automobile dealers in the country. As of July, HCPI has a market share of 5.64 percent to trail Toyota Motor Philippines Corp., Mitsubishi Motors Philippines Corp., Nissan Philippines Inc., Suzuki Philippines Inc. and Ford Motor Co. Philippines Inc. However, its sales for the period slid 15.49 percent to 11,634 units, from 13,768 units during the same stretch last year. Elijah Felice E. Rosales

LBC income cut in half due to previous acquisitions

C

OURIER LBC Express Holdings Inc. said its income was cut in half during the first six months of the year to P549 million from last year’s P1.19 billion, after it was dragged by the loss of one of its acquisitions last year.

The company said service revenues increased by 36 percent to P7.85 billion from last year’s P5.78 billion, due to the increase in revenues from both the logistics and remittance segments by 27 percent and 11 percent, respectively.

LBC said its losses came from Quadx Inc., which it acquired last year. In May, however, LBC sold its 1.86 million common shares in Quadx.

“This previously acquired entity incurred abovementioned losses which were recognized during this period. The divestment by the company of its Quadx Inc. shares was made pursuant to the plans of the company to refocus its strategic direction, which may include implementing certain organizational changes, and with a view of turning around losses for company,” it said.

For the second quarter alone, the company had a net income of P541.38 million, some 13 percent lower than the previous year’s P625.28 million.

Business acquisitions from July 2018 onward contributed revenue of approximately P1.92 billion for the six-month period.

The total retail segment of the business grew by 43 percent, with retail logistics alone increas-

ing by 50 percent. Corporate logistics and money remittance grew by 22 percent in total, with the corporate segment accounting for a 231-percent increase.

“The company’s domestic business remains robust, evidenced by a 20-percent revenue increase, and with the opening of 75 retail branches since the same period of the previous year. The domestic segment also saw the introduction of new products mid-2018, contributing to its favorable performance,” it said.

As of end July, LBC has 1,430 branches operational in the Philippines; with 75 additional branches or a 6-percent growth from July 2018.

During the period, the company said it signed with various remittance partners, including TrueMoney, Remitly, Dragonpay, PayMaya and Cebuana Lhuillier.

“By expanding our remittance services, we are able to assist customers in far-flung areas, and participate in this effort of the [Bangko Sentral ng Pilipinas]. LBC has always been looking toward better assisting all customers from all over the country, and across the globe,” Miguel A. Camahort, the company’s chairman and president, said.

LBC said its outlook for the remaining part of the year remains positive, as the peak season is coming and its operations are geared to the demands of businesses. VG Cabuag

B2

Companies BusinessMirror

Wednesday, August 21, 2019

PSE STOCK QUOTATIONS

August 20, 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 PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BDO LEASING COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE

57 145 88 26.3 11.7 71.15 20.55 45.85 57.85 27.9 190 59 2.06 18.2 4.9 0.44 720 0.97 187.1 1.13

57.05 145.5 88.7 26.35 11.76 71.25 22.25 45.9 57.95 27.95 190.6 59.05 2.18 18.58 4.91 0.455 750 0.98 188.1 1.16

57.05 147 89.7 26.4 11.7 71.5 20.7 46.1 57.95 28 191.7 59.55 2.18 18.2 4.86 0.435 750 0.97 188.1 1.19

57.05 147 90 26.4 11.8 72 20.7 46.15 57.95 28 192.1 59.55 2.18 18.58 5.08 0.455 750 0.98 188.1 1.19

57.05 144.1 88 26.3 11.66 71.05 20.4 45.65 57.95 27.95 186.2 59 2.18 18.2 4.86 0.435 750 0.96 187 1.12

57.05 145 88 26.3 11.76 71.15 20.4 45.85 57.95 27.95 190.6 59 2.18 18.58 4.91 0.455 750 0.97 187.1 1.13

4000 1054810 1754730 76900 380200 890330 11400 522100 2660 1500 379950 21380 7000 1600 304000 70000 20 295000 2270 21000

228200 152918838 156030275.5 2026155 4446036 63523566.5 233510 23931865 154147 41945 72222769 1262325 15260 29196 1498380 31450 15000 286070 424803 24230

8796882 -25499245 -932495 -812996 -19335925.5 -10087900 3297310 -789505 -81480 18800 -

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

1.31 36 0.244 26.3 84.2 360.4 22.1 5.39 4.45 2.91 10.78 37 7.1 16.1 14.1 90.55 15.54 13.98 5.91 9.06 7.34 97.2 0.69 54.5 225.2 42 8.28 14.14 0.186 1.88 12.4 1.79 5.04 2.26 0.127 167.5 1.13 2.45 78 88.6 3.08 5.7 15.1 9.26 14.46 18.4 8.71 1.04 1.21 2.05 4.3 3.3 4.96 35.8 1.96 8.12 1.49 5.4 1.12 11.54

1.34 36.2 0.246 26.4 84.35 361 22.15 5.4 4.54 2.92 11.2 37.3 7.17 16.88 14.36 104 16.16 14.42 5.97 9.07 7.35 99.5 0.7 54.6 227.2 - 9 14.2 0.195 1.89 12.42 1.8 5.09 2.32 0.131 168 1.14 2.55 80 90 3.1 5.75 15.18 9.35 14.48 18.46 9.09 1.05 1.22 2.07 4.47 3.39 5.19 36.3 1.98 8.2 1.54 5.49 1.13 11.92

1.3 36.3 0.244 26 83.5 365 22.55 5.3 4.45 2.78 11.1 37.1 7.1 16.1 14.28 109 15.56 14.1 6.05 9.15 7.34 98 0.7 55 233.6 43.5 8.8 14.2 0.195 1.92 12.5 1.81 5.1 2.32 0.133 171.9 1.15 2.55 78 92.4 3.17 5.75 14.8 9.11 14.1 18.48 9.1 1.08 1.17 2.02 4.28 3.39 4.97 35.9 1.99 8.25 1.55 5.49 1.1 12.16

1.32 36.3 0.246 26.5 84.45 365 22.55 5.41 4.55 2.94 11.2 37.4 7.19 16.1 14.36 109 16.16 14.4 6.05 9.15 7.36 99.5 0.71 55.4 233.6 43.5 9 14.28 0.196 1.95 12.5 1.86 5.1 2.32 0.133 171.9 1.15 2.55 81.4 97 3.17 5.77 15.18 9.5 14.56 18.48 9.1 1.14 1.23 2.08 4.58 3.39 4.97 35.9 2 8.25 1.55 5.49 1.15 12.18

1.3 34.55 0.244 25.75 83.45 360 22.05 5.29 4.45 2.77 10.64 36.95 7 16.1 14.08 109 15.56 13.98 5.9 9.02 7.34 97.1 0.69 54 224.6 43.5 8.28 14.06 0.195 1.87 12.4 1.73 5.05 2.32 0.133 165.3 1.12 2.55 77.3 88 3.08 5.7 14.8 9.11 14.1 18.36 9.05 1.04 1.16 2.01 4.28 3.39 4.97 35.9 1.95 8.1 1.54 5.49 1.1 11.5

1.31 36 0.246 26.4 84.2 361 22.15 5.4 4.45 2.92 11.2 37 7.17 16.1 14.36 109 15.56 13.98 5.91 9.06 7.35 99.5 0.69 54.6 225.2 43.5 8.28 14.2 0.195 1.89 12.42 1.8 5.09 2.32 0.133 168 1.14 2.55 80.5 90 3.08 5.75 15.18 9.35 14.46 18.4 9.05 1.05 1.22 2.05 4.47 3.39 4.97 35.9 1.98 8.2 1.54 5.49 1.12 11.92

1088000 1461100 250000 2220300 306880 82340 1558000 2102700 37000 24055000 29500 155100 95300 2300 1489900 60 2500 225300 108700 377900 246500 119520 740000 102500 1045490 300 35700 91600 790000 16323000 286900 6901000 776900 12000 20000 539100 3934000 9000 7060 29430 6555000 19100 103200 1995900 590100 2004200 961100 360000 5439000 275000 144000 1000 24300 2000 8403000 52800 13000 3000 177000 168900

1424650 -1347150 52,473,840( 21,840,684.9993) 61060 58492495 29016325 25841768 4994887.5 29757936 -4169018 34648105 -9884270 11302415 4793337 165480 69,114,410( 3,068,450.0001) 326970 5742170 -2497480 676601 -107400 37030 21277428 8081128 6540 38960 3151580 -2820764 650135 -174596 3430998 -2186805 1810333 -1543850 11762660.5 -7278753.5 514620 5616992.5 762884.5 237298812 -104462122 13050 318070 1296918 -272660 154250 -17640 31183590 -3098080 3563600 -210970 12451950 -64000 3947083 -191099.0003 27840 2660 90842078 -5812491 4456860 -580 22950 553032 2645565.5 2767.0003 20325600 2065520 109605 1544472 882710 18474357 7218764.9997 8490730 405584 36877874 12170096 8698010 381150 6571890 -69190 566650 634350 3390 120771 71800 16578910 3107180 430664 22047.9999 20130 16470 198600 1992868 174732

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

0.82 14.54 945.5 50.7 13.18 3.73 7 0.68 1.21 1.23 6.76 9.22 13.7 4.14 0.225 880 67.15 5.24 6 0.495 4.63 13.46 0.58 4.98 0.038 1.33 2.78 1.39 1000 175.9 0.79 250 0.227 0.235

0.83 14.66 953.5 51.05 13.2 3.74 7.1 0.69 1.22 1.25 6.89 9.37 13.8 4.67 0.235 888.5 67.2 6.2 6.15 0.5 4.64 13.5 0.6 5 0.039 1.34 2.88 1.41 1010 177.3 0.81 256.4 0.23 0.239

0.84 14.78 951 51.7 13.3 3.79 7.1 0.68 1.23 1.24 6.94 9.46 13.6 4.67 0.225 883.5 67.15 5.5 5.97 0.5 4.64 13.5 0.58 5.09 0.038 1.25 2.88 1.41 1020 177.2 0.8 256.4 0.23 0.241

0.85 14.88 953.5 51.8 13.38 3.79 7.1 0.69 1.23 1.25 6.98 9.47 13.8 4.67 0.235 888.5 67.2 6.2 6 0.53 4.65 13.68 0.6 5.09 0.038 1.38 2.89 1.41 1020 178 0.83 256.4 0.23 0.241

0.8 14.4 941 50.55 13.08 3.64 7 0.68 1.2 1.23 6.76 9.18 13.6 4.67 0.225 865 65.8 5.21 5.97 0.5 4.6 13.44 0.57 4.96 0.038 1.25 2.88 1.39 997 175.5 0.78 250 0.23 0.235

0.83 14.56 953.5 50.7 13.2 3.74 7 0.69 1.22 1.25 6.76 9.24 13.8 4.67 0.235 888.5 67.15 6.2 6 0.5 4.63 13.5 0.59 5 0.038 1.34 2.89 1.41 1010 175.9 0.81 250 0.23 0.235

36308000 31500 263270 681420 10724000 2115000 12100 135000 737000 325000 153800 2763600 206100 1000 20000 73420 1271880 2700 19000 14000 299000 2043400 874000 46476600 1400000 815000 24000 40000 322340 168380 1290000 4790 10000 3130000

29825990 459192 249992085 34650573 141706450 7837390 85419 92310 895440 401950 1054600 25725160 2842960 4670 4600 64574530 85255336.5 16083 113810 7120 1380090 27577290 510710 232561280 53200 1082430 69330 56220 323363500 29644678 1025610 1203604 2300 736610

HOLDING & FRIMS

945110 37420180 -15027765 -37835656 -343190 113930 -316337 -6276108 -2314260 -19170265 18705251.5 1071 -441590 4831432 82378159.0001 -49400 -65681857.5 -10834658 -1070912 -21240

PROPERTY

ARTHALAND CORP 0.97 0.98 1.01 1.02 0.95 0.98 7211000 7048660 317990 ANCHOR LAND 10 10.38 10.38 10.38 10.38 10.38 5000 51900 AYALA LAND 49.35 49.5 48.6 49.5 48.5 49.5 7877600 387443275 -42529040 ARANETA PROP 1.93 1.98 1.93 1.98 1.93 1.98 7000 13760 BELLE CORP 2.17 2.19 2.15 2.2 2.15 2.17 312000 682130 -39170 A BROWN 0.81 0.82 0.8 0.81 0.8 0.81 190000 153000 CITYLAND DEVT 0.86 0.88 0.82 0.88 0.82 0.88 72000 60860 CROWN EQUITIES 0.233 0.235 0.225 0.235 0.225 0.235 410000 93070 CEBU HLDG 5.83 6.16 5.85 6.16 5.84 5.84 100900 589348 -408850 CEB LANDMASTERS 4.75 4.77 4.76 4.77 4.74 4.77 155000 736120 85420 CENTURY PROP 0.56 0.58 0.57 0.58 0.56 0.57 16168000 9202320 -282000.0001 CYBER BAY 0.4 0.405 0.4 0.4 0.4 0.4 30000 12000 DOUBLEDRAGON 23.2 23.55 23.4 23.6 23 23.55 149300 3483275 1141355 DM WENCESLAO 9.85 9.94 9.95 10.18 9.85 9.85 142700 1411265 -2985 EMPIRE EAST 0.46 0.47 0.46 0.47 0.46 0.46 3820000 1767450 -1200950 EVER GOTESCO 0.125 0.134 0.125 0.125 0.125 0.125 40000 5000 FILINVEST LAND 1.72 1.73 1.69 1.73 1.68 1.72 39975000 68548500 25163780 GLOBAL ESTATE 1.29 1.3 1.31 1.31 1.29 1.29 574000 744430 8990 HLDG 15.5 15.56 15.5 15.6 15.42 15.56 228600 3548352 -305060 PHIL INFRADEV 1.44 1.45 1.46 1.48 1.44 1.44 1440000 2096960 144340 CITY AND LAND 0.74 0.77 0.77 0.77 0.73 0.77 86000 64560 730 MEGAWORLD 5.27 5.29 5.3 5.34 5.25 5.29 20392700 107754385 30377686 MRC ALLIED 0.3 0.305 0.31 0.31 0.3 0.3 11840000 3594850 36350 PHIL ESTATES 0.435 0.445 0.435 0.435 0.435 0.435 120000 52200 PRIMEX CORP 2.03 2.05 2.01 2.05 2.01 2.04 517000 1057380 ROBINSONS LAND 24.7 24.8 24.75 24.8 24.5 24.7 3377800 83448030 -36159570 PHIL REALTY 0.385 0.395 0.385 0.385 0.385 0.385 170000 65450 ROCKWELL 2.4 2.41 2.38 2.41 2.35 2.4 557000 1333580 -201600 SHANG PROP 3.32 3.35 3.31 3.35 3.29 3.35 539000 1782040 732600 STA LUCIA LAND 2.49 2.5 2.6 2.6 2.35 2.49 3182000 7872760 190690 SM PRIME HLDG 35.4 35.7 34.75 35.7 34.7 35.7 11271800 398591015 -17061575 STARMALLS 5.65 5.92 5.96 5.96 5.63 5.88 66900 391741 -29350 SUNTRUST HOME 1.03 1.05 0.92 1.05 0.87 1.04 24577000 24535550 7059820 PTFC REDEV CORP 50 54 50 59 50 54 11600 619270 VISTA LAND 7.56 7.59 7.65 7.65 7.55 7.59 3993700 30276211 -21682709

SERVICES ABS CBN 18.7 18.9 18.3 18.7 18.3 18.7 569400 10557134 GMA NETWORK 5.3 5.39 5.31 5.41 5.3 5.39 401800 2139700 MANILA BULLETIN 0.44 0.465 0.445 0.465 0.44 0.465 270000 120200 MLA BRDCASTING 12.52 14 14 14 14 14 400 5600 GLOBE TELECOM 1899 1900 1930 1930 1883 1900 59930 113924545 -58317115 PLDT 1105 1108 1118 1118 1105 1105 132770 147408750 -80388130 APOLLO GLOBAL 0.046 0.047 0.046 0.048 0.046 0.047 3700000 173600 ISLAND INFO 0.109 0.112 0.109 0.111 0.108 0.111 710000 77580 ISM COMM 5.05 5.06 5.1 5.1 5.04 5.05 2043300 10331377 -525284.9998 NOW CORP 2.12 2.13 2.19 2.19 2.12 2.13 883000 1894100 TRANSPACIFIC BR 0.315 0.325 0.315 0.325 0.315 0.325 590000 186650 PHILWEB 3.35 3.36 3.38 3.41 3.31 3.35 1197000 4015630 39920 2GO GROUP 9.9 10.18 9.9 10.2 9.9 10.18 10100 101224 -7920 ASIAN TERMINALS 18.52 18.8 19 19 18.52 18.52 630000 11958000 -11660 CHELSEA 6.73 6.74 6.74 6.8 6.66 6.73 486600 3269601 -32529 CEBU AIR 95.6 95.75 95.5 95.9 95.45 95.6 333640 31901576.5 -1510293.5 INTL CONTAINER 130.4 131 131.8 132.5 130 131 897960 117725537 33222216 LBC EXPRESS 14 14.62 14.02 14.62 14 14 2400 33668 LORENZO SHIPPNG 0.9 0.92 0.9 0.92 0.89 0.92 242000 215860 MACROASIA 19 19.04 19.08 19.08 19 19 599500 11392748 2787020 METROALLIANCE A 1.26 1.43 1.2 1.5 1.2 1.43 58000 76610 METROALLIANCE B 1.29 1.56 1.27 1.27 1.27 1.27 9000 11430 PAL HLDG 8.1 8.12 8.05 8.2 8.05 8.12 11700 95770 HARBOR STAR 1.63 1.65 1.62 1.68 1.61 1.65 738000 1209650 29369.9999 ACESITE HOTEL 1.51 1.54 1.47 1.54 1.46 1.54 22000 32660 BOULEVARD HLDG 0.058 0.059 0.057 0.059 0.057 0.059 5730000 332270 11400 WATERFRONT 0.68 0.69 0.67 0.69 0.67 0.68 1647000 1119780 CENTRO ESCOLAR 6.57 6.99 6.99 6.99 6.99 6.99 5000 34950 IPEOPLE 9.23 9.65 9.23 9.23 9.23 9.23 5000 46150 STI HLDG 0.68 0.69 0.69 0.7 0.69 0.69 443000 306330 BERJAYA 2.22 2.29 2.26 2.3 2.22 2.22 153000 344620 BLOOMBERRY 10.64 10.68 10.78 10.8 10.6 10.64 4009900 42690950 -27297230 PACIFIC ONLINE 2.64 2.65 2.62 2.66 2.62 2.64 33000 87390 LEISURE AND RES 3.2 3.22 3.18 3.22 3.18 3.21 177000 563820 -95400 MANILA JOCKEY 3.1 3.15 3.15 3.15 3.1 3.1 79000 245300 PREMIUM LEISURE 0.68 0.69 0.7 0.7 0.69 0.7 480000 331760 TRAVELLERS 5.46 5.47 5.45 5.46 5.45 5.46 4235300 23106932 -496860 METRO RETAIL 2.51 2.52 2.53 2.54 2.51 2.52 339000 853120 2520 PUREGOLD 45.2 45.5 45.05 45.5 44.8 45.2 623700 28145625 -139985 ROBINSONS RTL 77.3 77.55 77.5 78 77 77.55 518220 40191629.5 -13599721 PHIL SEVEN CORP 136 144.4 135.1 144.4 135.1 144.4 250 34312 SSI GROUP 2.74 2.75 2.94 2.94 2.74 2.75 10178000 28500140 1262380 WILCON DEPOT 16.58 16.6 15.88 16.72 15.86 16.58 3255300 53754678 15106814 APC GROUP 0.51 0.52 0.52 0.52 0.5 0.52 942000 471360 25000 EASYCALL 8.82 9.2 9.26 9.26 8.72 8.82 26500 237820 GOLDEN BRIA 423 425 425 425 423 425 1160 491940 127500 IPM HLDG 5.05 5.1 5.1 5.1 5.05 5.05 1600 8155 PRMIERE HORIZON 0.53 0.54 0.55 0.55 0.52 0.53 14160000 7549700 144510 SBS PHIL CORP 9.11 9.37 9.1 9.37 9.1 9.1 4600 41941

MINING & OIL ATOK 12.5 12.6 12.76 12.76 12.76 12.76 100 1276 APEX MINING 1.29 1.3 1.34 1.35 1.3 1.3 7236000 9504600 -148600 ABRA MINING 0.0016 0.0017 0.0017 0.0017 0.0016 0.0017 15000000 24500 ATLAS MINING 2.52 2.53 2.56 2.56 2.52 2.53 113000 286730 BENGUET A 1.15 1.22 1.11 1.15 1.11 1.15 20000 22800 COAL ASIA HLDG 0.27 0.28 0.27 0.27 0.27 0.27 50000 13500 CENTURY PEAK 2.72 2.75 2.72 2.72 2.72 2.72 411000 1117920 DIZON MINES 7.74 7.83 7.88 7.89 7.75 7.83 3300 25773 -3135 FERRONICKEL 1.41 1.42 1.45 1.45 1.42 1.42 2889000 4111970 -3135470 GEOGRACE 0.199 0.204 0.207 0.208 0.2 0.205 690000 140480 LEPANTO A 0.113 0.115 0.112 0.116 0.112 0.115 1800000 204910 MANILA MINING A 0.009 0.0097 0.0092 0.0097 0.009 0.009 18000000 165100 MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 24200000 256000 MARCVENTURES 1.05 1.06 1.03 1.06 1.01 1.05 80000 82330 1010 NIHAO 0.98 1.02 0.99 1.02 0.98 1.02 26000 25600 NICKEL ASIA 2.55 2.6 2.6 2.62 2.55 2.55 1307000 3360910 -5760 OMICO CORP 0.49 0.51 0.48 0.5 0.47 0.49 160000 78800 ORNTL PENINSULA 0.82 0.83 0.82 0.83 0.81 0.83 487000 397560 PX MINING 3.76 3.78 3.82 3.82 3.75 3.76 1090000 4110950 138750 SEMIRARA MINING 22.85 22.95 23 23 22.5 22.95 228700 5235330 2594640 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 9600000 111100 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 65300000 718300 5500 PHINMA PETRO 6.1 6.11 5.67 6.11 5.46 6.1 1362600 8060189 11400 PXP ENERGY 13.06 13.08 13.3 13.4 12.96 13.06 1840000 24137736 -1074684

PREFFERED

HOUSE PREF A 98 100 100 100 100 100 14070 1407000 AC PREF B1 495.2 499.6 499 499 499 499 1330 663670 AC PREF B2 498 504 504 504 504 504 10 5040 ALCO PREF B 101 104.9 101.2 101.2 101.2 101.2 1000 101200 DD PREF 101.1 101.8 101.2 101.5 101.1 101.5 14000 1418300 FGEN PREF G 105 107.3 107 107.3 105 105 17700 1864230 GLO PREF P 505 510 505 505 505 505 100 50500 GTCAP PREF A 970 995 967 970 967 970 270 261615 GTCAP PREF B 970 975 970 970 970 970 330 320100 LR PREF 0.99 1 1 1 0.99 0.99 58000 57600 MWIDE PREF 101.1 102 101.1 101.1 101.1 101.1 10 1011 PCOR PREF 2A 996 1020 996 996 996 996 120 119520 PCOR PREF 2B 1020 1030 1021 1021 1020 1020 5000 5101000 PCOR PREF 3A 1040 1045 1040 1040 1040 1040 1120 1164800 PCOR PREF 3B 1031 1040 1038 1040 1038 1040 860 894380 SMC PREF 2B 76 77 75.6 77 75.6 77 80 6136 SMC PREF 2C 78.3 78.5 78.65 78.65 78.5 78.5 113950 8945686 SMC PREF 2D 75.55 75.6 75.5 75.55 75.5 75.55 750 56630 SMC PREF 2F 76.95 77.2 76.95 76.95 76.95 76.95 2700 207765 SMC PREF 2G 75.65 76.1 75.8 75.8 75.65 75.65 8000 605950 SMC PREF 2I 75.6 76.4 76.4 76.4 75.6 75.6 40 3040 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.38 5.16

17.4 5.2

17.3 5.2

17.5 5.2

17.12 5.16

17.38 5.18

886300 329900

15397122 1710696

WARRANTS LR WARRANT

1.54

SMALL & MEDIUM ENTERPRISES ITALPINAS 7.38 KEPWEALTH 12.22 XURPAS 0.96

1.7

1.69

1.69

1.62

1.62

52000

85920

-

7.39 - 0.98

7.4 8.2 0.98

7.53 12.22 0.98

7.36 8.2 0.96

7.39 12.22 0.96

2365900 43404500 942000

17579081 454007176 914820

-273182 226742 -21370

EXHANGE TRADE FUNDS FIRST METRO ETF

118.6

-9130240 -303160

118.7

119

119

118.2

118.6

12970

1536792

1188548

www.businessmirror.com.ph

NREB to hold 2,000-MW RE capacity auction in ’19

A

By Lenie Lectura

@llectura

PROPOSAL to auction 2,000 megawatts (MW) of renewableenergy (RE) capacity under the green-energy tariff program is being eyed for implementation within this year.

“Hopefully, we will get the approval of the board so that we could already formalize our recommendation to the secretary. There will be a draft circular for public consultation to institutionalize the program. The target is to roll this out within the year. So, hopefully, we meet the target,” said Atty. Monalisa Dimalanta, who chairs the National Renewable Energy Board (NREB).

NREB is the advisory body tasked by law to recommend policies, rules and standards to govern the implementation of the RE law, which granted fiscal and non-

fiscal incentives to RE projects.

She said the implementation of the program must coincide with that of the Renewable Portfolio Standards (RPS), a policy mandating distribution utilities to source a minimum portion of energy from renewable sources, thus guaranteeing a market for RE generators.

“We need to do that soon. Based on the instructions of the DOE secretary, the main objective is promote more investments in the RE sector considering that it won’t have feedin-tariffs and another round of FIT anymore. So, it’s really to attract

more investments and the idea is to create a market for them to facilitate their access to market for the renewable energy,” Dimalanta explained.

“The secretary promised the 2,000MW of RE. He says that ‘it’s up to you whether it comes from solar, or hydro, or geothermal, or whatever, you decide.’ The way we are looking at it in NREB, we won’t specify the resource but we will look at whether this is baseload capacity, mid-merit,” added the NREB chief.

Her office has already drafted preliminary recommendations that will be up for discussion within the board. “We have a board meeting this week so hopefully we get the instructions already and the consensus from the members so that we can formally present it,” said Dimalanta.

Basically, she explained, an auction will be open for RE developers. A price would have to be set. NREB will then allocate the RE capacity to distribution facilities who are required to purchase RE because of their RPS mandate.

The details, including the capacity limit of a participating RE developer, have yet to be firmed up by NREB. “That’s part of the parameters that we need to develop but most likely it will not be a limit to the capacity. We need to change the language altogether because the RPS is set on megawatt hours, so it’s the energy that we actually generate, not just the capacity of the plants. So, in terms of green-energy pricing, our measure will be on megawatt hours, as well.”

NREB would have to also consider the RPS requirement in determining the cap. “Right now, DOE is undergoing workshops with utilities to identify their RPS requirements... Some distribution utilities already have RE capacity. [They already have a] PSA (power supply agreement) or a FiT allocation.

How much would they still need to meet the 1 percent minimum RE generation? So, we will have to match,” she explained.

Global telco players gear up for 15th Asian Carriers Conference

T

HE Asian Carriers Conference (ACC), which in past years helped redefine the telecom landscape especially for the carrier and wholesale business, is geared to map out the industry’s future once more with this year’s edition, scheduled in early September in Cebu.

From September 3 to 6, 2019, more than 1,000 industry leaders and delegates from over 200 companies worldwide will converge at the Shangri-La’s Mactan Resort & Spa in Cebu for the ACC, which will provide them a venue for networking, collaborating and learning with the rest of the global telecommunications and technology communities.

ACC is marking its 15th year with the theme “Stronger Partnerships for Shared Success,” emphasizing the need to establish greater collaboration and synergy in the face of increasing technological disruption, declining margins and fast-changing customer preferences.

This year’s ACC Advisory Council members who help steer the conference’s strategic initiatives and development plans include Marc Halbfinger, CEO of PCCW Global; Andrew Kwok, CEO of HGC; and Ali Amiri, chief carrier and wholesale officer, Etisalat.

Other distinguished professionals make up the ACC Ambassadors: Norioki Sekiguchi, direc-

tor of Softbank; Quiel Delgado, CEO of Radius; Patrick Sullivan, global account manager of Verizon; Guillermo Martinez Maside, vice president for sales of Telefonica; and Jayson Ho, regional sales director of Orange.

The event’s keynote speakers are Nicklas Bergman, notable serial entrepreneur, futurist and tech philosopher; and Ishan Chatterjee, Apac partnership head of Google. Several workshops on business opportunities, technological trends and customer experience will also be held alongside various social activities.

ACC’s major sponsors include software and services provider Amdocs, China Mobile, China Unicom, FiberHome, PCCW Global, Verizon Wireless, NTT Communications and Nokia Corp.

Other companies include Telefonica, Haud, Etisalat, Chunghwa Telecom, Blazon Solutions, CAT Telecom, Digitalk, Dime Global, Glory Technology HK, HGC Global, IDT Asia, IPC, MarvelTec, Orange Telecom, Mitto, PCG Telecom, Primus Telecommunications Group Inc., Sinch, Saudi Telecom, Telebiz Int’l, Telenor Group, Telia, TIS, TelQ Global, TNZI, Valudev Global, VoiceTec UK, Almuqeet Systems, AT Tokyo, DT One, Eastern Telecommunications, Radius, Fujitsu, Syniverse, and Vasudev, among many others.

ACE Enexor eyeing strategic partner for exploration plans

A

CE Enexor Inc., formerly Phinma Petroleum and Geothermal Inc. (PPG), wants to bring in a strategic partner to aid the company in its future exploration plans.

“We may be bringing in partners in the future.

I think the idea is, over time, we will bring in at least one strategic partner. Most likely foreign with experience, big balance sheet and expertise in oil and gas exploration,” said Phinma Energy Corp. and AC Energy Inc. President Eric Francia.

PPG is a unit of Phinma Energy, which was acquired by AC Energy Inc. from the del Rosario family for P6.3 billion.

After the acquisition, Francia bared plans to develop the upstream business of Phinma Energy.

“Having studied the upstream oil and gas exploration potential in the Philippines, we think that sector is under-invested. If you look at the last decade or so, there were hardly any significant exploration activities,” commented Francia.

The plan, he said, is “to make sure that we are able to address the development potential of the asset.”

For now, Francia said ACE Enexor will continue to develop PPG’s existing petroleum service contracts. These are SC 55, a deepwater exploration block off southwest Palawan, and SC 6 Block A, a petroleum block in northwest Palawan.

“We will just focus on nurturing the two service contracts. Particularly, we are operators and Enexor is an operator in SC 55. We made a disclosure where we mentioned that we will be going into the appraisal period and we are committing one appraisal well to really assess the commerciality of the resource.

The other is SC 6, but we are only a minority in that area. We really want to maximize the potential of these exploration activities,”said Francia.

The SC 55 consortium has committed to drill one deepwater well within the first two years of the appraisal period and, following reinterpretation of certain seismic data outside of the current study area, may undertake a new 3D seismic program to mature other prospects within SC 55 to drillable status.

Last week, AC Energy entered into a sharepurchase agreement for the acquisition of a 51-percent interest in the Baroota Pumped Hydro and the Bridle Track Solar Farm projects from Rise Renewables.

UPC\AC Renewables Australia, the partnership between AC Energy Inc. and UPC Renewables of Australia, intends to accelerate remaining development, fund construction and to retain long-term ownership of the two projects in Australia. Lenie Lectura

MUTUAL FUNDS

August 20, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 261.34 1.31% -1.52% 0.65% 3.62% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5524 4.5% 2.31% 1.83% 7.75% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0542 -0.72% -2.88% -0.57% 3.87% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9596 5.15% N.A. N.A. 6.5% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8688 2.28% N.A. N.A. 5.86% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4506 2.01% -0.45% 0.71% 3.36% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8757 2.06% -4.73% N.A. 4.66% MBG EQUITY INVESTMENT FUND, INC. -A 119.01 7.28% N.A. N.A. 2.45% PAMI EQUITY INDEX FUND, INC. -A 52.2916 4.44% -0.52% N.A. 6.23% PHILAM STRATEGIC GROWTH FUND, INC. -A 545.98 4.45% -1.37% 0.35% 6.07% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3232 3.77% -0.03% 1.77% 5.52% PHILEQUITY FUND, INC. -A 38.833 4.02% 0.71% 1.81% 6.01% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0372 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3092 5.35% 0.41% 2.34% 7.07% PHILIPPINE STOCK INDEX FUND CORP. -A 886.16 5.35% 0.11% 2.28% 6.97% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9188 5.89% -0.76% N.A. 6.84% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3456 5.32% 0.39% 1.88% 7.06% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0185 4.91% 0.07% N.A. 6.73% UNITED FUND, INC. -A 3.7381 4.83% 1.87% 2.73% 6.78% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 118.7562 5.79% 0.95% 3.33% 7.23% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9249 -7.57% 0.86% -2.19% -0.45% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.266 -0.42% 6.53% N.A. 14.55% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6892 0.72% -2.93% -2.09% 2.3% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3242 1.99% -1.18% 0.52% 5.21% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.67 3.35% -0.25% -0.96% 4.99% GREPALIFE BALANCED FUND CORPORATION -A 1.3523 1.36% N.A. N.A. 3.68% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.962 5.65% 0.28% 1.36% 6.45% PAMI HORIZON FUND, INC. -A 3.8277 6.65% -0.57% 0.8% 8.45% PHILAM FUND, INC. -A 17.1355 6.85% -0.59% 0.67% 7.72% SOLIDARITAS FUND, INC. -A 2.1603 3.61% 0.36% 1.85% 4.4% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9215 6.19% 0.23% 1.41% 7.4% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0287 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0173 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.014 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0033 6.41% 0.18% 1.04% 8.85% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03872 9.88% 2.35% 2.74% 9.69% PAMI ASIA BALANCED FUND, INC. -A $0.9633 -1.66% 0.89% -1.74% 5.43% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7137 2.63% 4.8% 2.63% 12.24% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1117 4.68% 3.14% N.A. 10.07% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.56 3.86% 2.25% 2.34% 2.94% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9113 2.59% 0.06% 0% 2.8% COCOLIFE FIXED INCOME FUND, INC. -A 3.075 5.5% 5.38% 5.3% 3.32% EKKLESIA MUTUAL FUND INC. -A 2.2188 4.51% 1.44% 2.18% 4.21% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3497 5.99% 1.46% 1.73% 6.56% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6078 1.62% -1.48% 0.2% 2.77% PHILAM BOND FUND, INC. -A 4.3265 9.8% 0.81% 1.94% 10.38% PHILEQUITY PESO BOND FUND, INC. -A 3.7492 7.75% 1.46% 1.78% 6.6% SOLDIVO BOND FUND, INC. -A 0.9542 5.82% -0.21% N.A. 7.07% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0303 9.47% 1.94% 2.68% 9.56% SUN LIFE PROSPERITY GS FUND, INC. -A

1.6806 9.49% 1.47% 2.21% 9.14% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $462.87 4.21% 1.69% 2.78% 3.23% ALFM EURO BOND FUND, INC. -A Є220.02 2.9% 1.33% 1.58% 3.46% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1945 6.83% 2.02% 2.54% 6.11% 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 0.72% -2.16% 0.52% 1.6% PAMI GLOBAL BOND FUND, INC -A $1.1052 6.48% -0.3% -1.61% 6.65% PHILAM DOLLAR BOND FUND, INC. -A $2.4139 11.11% 1.48% 3.65% 11.2% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0600888 5.8% 1.82% 2.04% 5.42% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1758 9.33% 0.91% 3.2% 10.57% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.41 4.12% 2.61% 2.06% 2.92% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0203 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2382 5.59% 2.35% 1.44% 4.76% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2513 3.92% 2.76% 2.14% 2.63% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0309 2.2% N.A. N.A. 1.48%

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."

Editor: Angel R. Calso

The World BusinessMirror

Twitter shuts Chinese accounts targeting Hong Kong protests

W

ASHINGTON—Twitter said on Monday it has suspended more than 200,000 accounts that it believes were part of a Chinese government influence campaign targeting the protest movement in Hong Kong.

The company also said it will ban ads from state-backed media companies, expanding a prohibition it first applied in 2017 to two Russian entities.

Both measures are part of what a senior company official portrayed in an interview as a broader effort to curb malicious political activity on a popular platform that has been criticized for enabling election interference around the world and for accepting money for ads that amount to propaganda by state-run media organizations.

The accounts were suspended for violating the social-networking platform’s terms of service and “ because we think this is not how people can come to Twitter to get informed,” the official said in an inter view with The Associated Press.

The official, who spoke on condition of anonymity because of security concerns, said the Chinese activity was reported to the FBI, which investigated Russian efforts to interfere in the 2016 US presidential election through social media.

After being notified by Twitter and conducting its own investigation, Facebook said on Monday that it has also removed seven pages, three groups and five accounts, including some portraying protesters as cockroaches and terrorists.

Facebook, which is more widely used in Hong Kong, does not release the data on such state-backed influence operations. The company also does not ban ads from state-owned media companies. “ We c o nt i nu e t o l o o k a t our policies as they relate to state-owned media,” a Facebook spokesman said in a statement to the AP. “We’re also taking a closer look at ads that have been raised to us to determine if they violate our policies.”

Twitter traced the Hong Kong campaign to two fake Chinese and English Twitter accounts that pretended to be news organizations based in Hong Kong, where prodemocracy demonstrators have taken to the streets since early June calling for full democracy and an inquiry into what they say is

police violence against protesters.

Though Twitter is banned in China, it is available in Hong Kong, a semiautonomous region.

The Chinese language account, @HKpoliticalnew, and the English account, @ctcc507, pushed tweets depicting protesters as violent criminals in a campaign aimed at influencing public opinion around the world. One of those accounts was tied to a suspended Facebook account that went by the same moniker: HKpoliticalnew.

An additional 936 core accounts Twitter believes originated from within China attempted to sow political discord in Hong Kong by undermining the protest movement’s legitimacy and political positions.

About 200,000 more automated Twitter accounts amplif ied t he messages, engag i ng with the core accounts in the net work . Fe w t weeted more t han once, t he of f icia l sa id, mostly because Twitter quickly caught many of them.

The Twitter official said the investigation remains ongoing and there could be further disclosures.

The Twitter campaign reflects the fact that the Chinese government has studied the role of social media in mass movements, and fears the Hong Kong protests could spark wider unrest, said James Lewis at the Center for Strategic and International Studies.

“This is standard Chinese practice domestically, and we know that after 2016 they studied what the Russians did in the US carefully,” Lewis said. “So it sounds like this is the first time they’re deploying their new toy.”

Twitter has sought to more aggressively monitor its network for malicious political activity since the 2016 presidential election and to be more transparent about its investigations, publicly releasing such data about state-backed inf luence operations since October so others can evaluate it, the official said.

“We’re not only telling the public this happened, we’re also putting the data out there so people can study it for themselves,” the official said.

A s for state-backed media orga ni zat ions, t hey a re st i l l allowed to use Twitter, but are no longer allowed to pay for ads, which show up regardless of whether you have elected to follow the group’s tweet. AP

OIL EXTENDS GAINS AS HINTS OF U.S.CHINA DETENTE SPUR OPTIMISM

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IL extended gains as hints of trade detente between the US and China, and the prospect of monetary stimulus buoyed financial markets.

Futures in New York rose 0.4 percent after closing up 2.4 percent on Monday. The White House will extend exemptions protecting US customers from a ban on doing business with Huawei Technologies Co. for another 90 days, Commerce Secretary Wilbur Ross said on Monday. The move comes after President Donald J. Trump delayed new tariffs on some Chinese goods until mid-December.

Crude has swung between gains and losses this month as investors reacted to trade war developments. Germany is preparing fiscal stimulus measures to head off the chances of a deep recession, while more Federal Reserve rate cuts are expected to shore up American growth. Analysts are forecasting that US stockpiles fell for the first time in three weeks, a positive sign for oil markets.

“The outcome of the next US-China trade meeting will be the true litmus test for oil markets,” said Stephen Innes, managing partner at VM Markets Pte. in Singapore. “Oil traders don’t want to race too far ahead of the economic realities of the trade war narrative, so a bit of profit-taking is in order.”

West Texas Intermediate crude for September delivery rose 24 cents, or 0.4 percent, to $56.45 a

barrel on the New York Mercantile Exchange as of 7:23 a.m. in London. The contract, which expires on Tuesday, increased $1.34 on Monday. The more active October contract added 23 cents to $56.37.

Brent for October settlement advanced 23 cents to $59.97 on the ICE Futures Europe Exchange after climbing 1.9 percent on Monday. The global benchmark crude traded at a premium of $3.61 a barrel to WTI, the lowest since March 2018.

While the White House’s move on Huawei was seen as encouraging for the prospects of a trade deal between the world’s two largest economies, the US added more than 40 affiliates of the Chinese company to a trade blacklist. Huawei said in a statement the reprieve doesn’t change the fact that it has been “treated unjustly.”

Boston Fed President Eric Rosengren and Kansas City Fed President Esther George pushed back against further US rate cuts, the first time Fed Chair Jerome Powell has faced a double dissent since he took the central bank’s helm in February 2018. Powell’s speech at the annual central banker retreat in Jackson Hole, Wyoming, on Friday will be particularly closely watched.

American crude stockpiles fell by 1.4 million barrels in the week through August 16, according to the median estimate in a Bloomberg survey.

The official data from the Energy Information Administration is due on Wednesday.

Bloomberg News

Wednesday, August 21, 2019

B3

Wide implications as Germany seen wobbling toward recession

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ERLIN—Germany, Europe’s industrial powerhouse and biggest economy, with companies like Volkswagen, Siemens and BASF, may be entering a recession, according to a gloomy report from the country’s central bank on Monday—a development that could have repercussions for the rest of the eurozone and the United States.

A technical recession is defined as two consecutive quarters of negative growth, and Germany saw a 0.1-percent drop in the Aprilto-June period. In its monthly report, the Bundesbank said that with falling industrial production and orders, it appears the slump is continuing during the July-toSeptember quarter. “ The overall economic performance could decline slightly once again,” it said. “Central to this is the ongoing downturn in industry.”

Deutsche Bank went further on Monday, saying “we see Germany in a technical recession” and predicting a 0.25-percent drop in economic output this quarter.

Germany’s economy is heavily dependent on exports, and the Bundesbank said the trade conflict between the US and China, and uncertainty about Britain’s move to leave the European Union have been taking their toll. Both the US and China are among Germany’s

top trade partners, with Britain not far behind.

In addition, Germany’s auto industry—with giants like Volkswagen, Daimler and BMW— faces challenges adjusting to tougher emissions standards in Europe and China, and to technological change as demand grows for electric vehicles. Germany is also home to such major corporations as Bayer, Merck, Linde and the ThyssenKrupp Group.

The Bundesbank report is in line with a consensus among economists that “the risk of another quarter flirting with recession is high,” Carsten Brzeski, the chief economist for ING bank in Germany, told The Associated Press.

“The bigger picture is that the trade conflicts and uncertainty are finally starting to hurt one of the most open economies,” he said.

Though the labor market in Germany remains strong, with unemployment around historic lows, if economic concerns prompt

consumers to stop buying—or at least, to put off purchases—that could start to drag down growth in countries that count on Germany as a market for their exports. “ I f t h i s st a g n at ion /reces sion continues and leaves more lasting marks on the domestic economy, the rest of the world will also notice,” Brzeski said.

“Just think of weaker German demand for foreign goods or a German slowdown dragging the rest of the eurozone down—it could be a bit of a boomerang effect for the US, showing that no one really wins trade wars.”

In the United States, a survey of business economists released on Monday found that 74 percent appear sufficiently concerned about the risks of some of President Donald J. Trump’s economic policies that they expect a recession in the US by the end of 2021.

Amid the trade conflict between Washington and Beijing, the increasing prospect of Britain leaving the EU without an exit agreement and growing fears that countries may race to devalue their currencies, the monthly ZEW poll of German investors fell to its lowest level last week in over 7 and a half years.

“The ZEW indicator of economic sentiment points to a significant deterioration in the outlook for the German economy,” said Achim Wambach, president of the Mannheim-based institute.

Germany is still expected to post modest growth this year, with the Bundesbank predicting 0.6 percent and the government 0.5-percent growth, but

its slowdown is already starting to have an effect on the wider 19-nation eurozone, which last week announced that growth had halved in the second quarter to just 0.2 percent.

In response to the sluggish economies, the European Central Bank has signaled it is preparing a package of additional monetary stimulus measures, including a possible rate cut and bond purchases, which could be announced at its September 12 meeting.

Germany under Chancellor Angela Merkel has been running budget surpluses for years but has come under pressure from the International Monetary Fund, the US Treasury Department and others to undertake measures to boost domestic demand, such as cutting taxes and spending more on infrastructure.

During the recession a decade ago, Merkel’s government was widely criticized for dragging its feet in passing a stimulus package, though it eventually introduced measures adding up to some 80 billion euros, the largest such package in the country’s postwar history.

Last week, Merkel, who is not running in the next elections set for 2021, suggested she was open to the possibility of stimulus measures, saying that there was no need for a package “so far,” but that “we will react according to the situation.”

She noted that her government is already working on plans to remove in most cases an income tax aimed at covering costs associated with rebuilding the former East Germany. AP

Putin, Macron hold French-Russian talks before G-7

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AR IS—French President Emmanuel Macron and Russian President Vladimir Putin vowed to give a new boost to peace talks with Ukraine and to improve Moscow’s relations with the European Union during a meeting in southern France on Monday.

But t he y d i sag reed on ot her i s s u e s , i nc lu d i n g Sy r i a a nd the Russian crackdow n on o p p o s it ion prot e s t s .

Macron invited Putin to his summer residence, the Fort de Bregancon on the French Riviera, for a meeting followed by dinner, just a few days before opening a meeting of the Group of Seven nations in the city of Biarritz with US President Donald J. Trump and other leaders.

France holds the 2019 presidency of the G-7, which also includes Britain, Canada, Germany, Italy and Japan. Russia was excluded from the group after it annexed Crimea in 2014.

Macron intends to share the outcomes from his meeting with Putin with other world leaders in Biarritz August 24 to 26.

Speaking in a joint news conference before the meeting, Macron spoke of his hope that the election of Ukraine’s new president, Volodymyr Zelenskiy, provides opportunity to relaunch negotiations in Russia’s conflict with the country.

“I think Zelenskiy’s points of views, his choices are game-changing,” Macron said.

Putin expressed “some optimism” on the subject.

Both presidents opened the door to a four-way meeting involving Ukraine, Russia, France and Germany, possibly in the coming weeks.

The conflict in eastern Ukraine

FRENCH President Emmanuel Macron (right) welcomes Russian President Vladimir Putin at the Fort of Bregancon in Bormes-les-Mimosas, southern France, on Monday. Macron and Putin are meeting to discuss the world’s major crises, including Ukraine, Iran and Syria, and try to improve Moscow’s relations with the European Union. GERARD JULIEN VIA AP

has killed more than 13,000 people since 2014. A 2015 Minsk agreement, brokered by France and Germany, has helped reduce fighting, but clashes have continued and political settlement has stalled.

France and Russia also agreed to push for de-escalation of tensions between Iran and the US. Macron has taken a lead role in trying to save the 2015 nuclear accord, which has been unraveling since Trump pulled the US out of the agreement. Russia, along with Britain, Germany and China, remains a part of the accord.

“We worked a lot in recent weeks to prevent unrest” in Iran and the whole region, Macron said.

Macron and Putin said they would discuss the normalization of ties with the EU, which remain tense after Russia’s annexation of Crimea and support for separatist insurgents in eastern Ukraine.

T he Frenc h president env isioned long-ter m rel at ions between Moscow and Brussels based on confidence-building and security measures—on condition the conf lict with Ukraine is settled.

“The relation of France and Russia, of Russia and the Euro-

pean Union is absolutely decisive,” Macron said. “I know all the things that have divided us, the misunderstandings over the last decades...I know another thing, which is that Russia is European, very profoundly, and we believe in a Europe which stretches from Lisbon [Portugal] to Vladivostok [Russia],” Macron said.

I n a l a nd m a rk mo ve, t he Parliamentar y Assembly of the Council of Europe restored the credentials of Russia’s delegation in June, five years after it was stripped of voting rights following Crimea’s annexation.

Putin thanked France for playing a key role in the decision, and said he is convinced this will help

build a relationship of trust on the continent.

Both presidents didn’t hide their disagreements on other topics.

Earlier this month, France strongly condemned the Russian crackdown on opposition protests, denouncing the arrests of more than 2,000 people and the “clearly excessive use of force.”

Putin defended Russian police, saying he doesn’t want his country to see the kind of rioting and other violence that engulfed France during yellow vest protests against economic injustice and Macron’s presidency.

Macron said the situations couldn’t be compared, adding that in France, protesters were able to run in elections.

Macron and Putin also showed divergences on Syria.

Macron expressed “deep concern” over the military offensive led by the Syrian regime, backed

by Moscow, in the region of Idlib, a rebel-controlled area in the northwest of the country.

Paris is pushing for a truce that would prevent more civilian deaths and flows of refugees, but Putin welcomed the “efforts of the Syrian military to put an end to the terrorist threat” in that area. AP

B4 Wednesday, August 21, 2019

Marco Polo offers The Joys of Ting Hun package Netflix signs WEF pledge to enhance ASEAN digital creative skills

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ETFLIX signed on August 16 a pledge to partner with the World Economic Forum’s (WEF) Digital ASEAN working group to help people and governments in Southeast Asia develop creative and digital skills and capabilities for the Fourth Industrial Revolution.

The pledge is part of WEF’s ASEAN Digital Skills Vision 2020 programme, a private-public project involving a coalition of organisations that seeks to train up 20 million workers in digital skills by 2020.

The initiative gained further urgency when a recent WEF-commissioned survey of 56,000 ASEAN youths found that 52% believed they needed to upgrade their skills constantly to succeed in a changing

job market. On top of that, they ranked “creativity and innovation” as the most important skill for their future.

Mr. Yu-Chuang Kuek, Managing Director, Netflix Asia-Pacific, “As Netflix grows, we are partnering with Southeast Asian governments and industry players to support the development of digital creative skills needed in a fast-developing internet entertainment landscape. We believe having the necessary skills for the creative industry; being equipped for online safety and digital literacy; as well as understanding the principles for an agile governance framework will be integral to the success of initiatives like the ASEAN Connectivity Master Plan.”

As part of its pledge, Netflix will start rolling out initiatives focused on three broad areas, namely: Creative Industry 4.0 Skills Development, which will focus on the skills required to produce content for the internet entertainment industry, including writing, production, and postproduction; Online Safety and Digital Literacy, in partnership with industry experts, consumer advocacy groups, as well as regulators, to equip consumers with the necessary knowledge and tools to enjoy online entertainment in a safe and secure way; and Agile Governance 4.0, which will be held in partnership with key stakeholders to help regulators navigate changes in the 4th industrial revolution and to keep pace with technological advancements.

Kuek Yu Chuang, Managing Director of Netflix Asia-Pacific (3rd from left) along with representatives from the World Economic Forum and other signatories pose together with H.E. Nguyen Manh Hung, Minister of Communications and Information of Vietnam (4th from left) to mark the signing of the WEF ASEAN Digital Skills Pledge.

T

HE engagement announcement is an important part of Chinese tradition.

It is where the families of the bride and groom meet, and host a ceremony for their union. With Marco Polo Ortigas Manila’s specially-crafted The Joys of Ting Hun package, celebrate meaningful journeys in this anticipated event, giving couples and their families a harmonious new beginning.

Starting with the preparations, the bride enjoys a complimentary overnight stay in a suite room, as she gets ready to welcome her groom’s kin, inclusive of a breakfast buffet for two (2) and direct access to the Continental Club Lounge. The ceremony is made worthwhile with engagement cakes, specially designed by renowned cake designer, Penk Ching, symbolizing family reunion, and a sweet, rich life for the couple. Two floral bouquets are also provided to the groom, to be given to the two mothers of both families,

denoting his acceptance for his new role.

This comes with a corsage for the bride, and a boutonniere for her other half. As a perfect backdrop for this wonderful event, sanghee or double happiness sign, is also available, as a sign that “all good things come in pairs”.

As the ceremony flows seamlessly, the reception is also made more memorable with a string trio to play for three hours, special floral centrepieces for the presidential table and up to 10 guest tables, and a special chosen Lauriat menu, from the authentic flavours of Lung Hin. This menu provides an experience Cantonese culinary experience, straight from the heart of the Red Dragon, from the Hong Kong native and cuisine master, Chef Leung Chi Kwan.

For more information, contact (632) 720 7777 or book online via www. marcopolohotels.com or email: manila@ marcopolohotels.com.

Pag-ibig Fund chief graces the Creba meeting

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OME Development Mutual Fund (HDMF) CEO Acmad Rizaldy P. Moti (center) was the guest of honor and speaker at the 7th monthly business meeting of the Chamber of Real Estate and Builders’ Associations, Inc. (CREBA) held in Makati City last July 25, 2019.

CREBA is pursuing a 5-point agenda which envisions “A Home for every Filipino” by intensifying housing production to the level of 500,000 units per year or 10 million

homes in 20 years.

To achieve this, CREBA urges Congress to pass a housing fund bill to set in motion a P270-billion Comprehensive Home Financing Program (CHFP) that will grant long-term and affordable homeloans to the millions of homeless low-income earners nationwide.

Photo shows CREBA national president Noel Toti M. Cariño (2nd from right) presenting a plaque of appreciation to Moti together with other CREBA national officers.

PCSO DONATES P10 MILLION TO PRC – Philippine Charity Sweepstakes Office (PCSO) General Manager Royina M. Garma (2nd from left) hands over the check in the amount of Php 10 million to Philippine Red Cross (PRC) Chairman Richard Gordon (3rd from left) during the PRC Annual Blood Donors Recognition Ceremony on August 1, 2019 held at the PRC Logistic and Multi-Purpose Training Center, Edsa corner Boni Avenue, Mandaluyong City. The donation is for the blood requirements of dengue patients. Joining them are, (from L-R), Members of the Board of Governors Jorge G. Lim, Corazon Alma De Leon and Leonida Bayani- Ortiz.

Sports BusinessMirror

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| Wednesday, August 21, 2019

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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MORE than 3.2 million tickets are sold but more than 7.5 million Japanese enter the ballot, meaning a huge number of people miss out.

ORE than 4.5 million web site visits were registered during Tokyo 2020’s second-chance Olympic ticket lottery for residents of Japan, which closed on Tuesday.

Launched on August 8, the additional ballot was for those unsuccessful during the first lottery which was held between May 9 and 28.

A Tokyo 2020 spokesman confirmed to insidethegames that the number of visits on the web site during the 11-day period was 4,580,000.

Nearly 700,000 tickets were available which were largely for first round and qualifying competitions.

People who did not apply at all during the first phase were not able to take part, alongside those who were allocated tickets in May. The second lottery was announced by Tokyo 2020 due to the huge demand witnessed in the first phase.

More than 3.2 million tickets were sold but more than 7.5 million Japanese entered the ballot, meaning a huge number of people missed out.

The official ticketing web site was visited more than 24.25 million times in May with traffic overwhelming the system.

It prompted organizers to extend the application phase by 12 hours.

The sports with sessions available during the second lottery were athletics, baseball/softball, basketball, beach volleyball, canoe sprint, cycling, diving, equestrian, fencing, football, golf, gymnastics, handball, hockey, modern pentathlon, mountain bike, rowing, rugby sevens, taekwondo, volleyball, water polo, weightlifting and wrestling.

POLAND’S Aleksandra Miroslaw (left) and Britain’s Shauna Coxsey compete during the women’s combined speed final at the International Federation of Sport Climbing World Championships on Tuesday in Tokyo. Miroslaw won the event. AP

Fans were able to select one session as their first choice and one other session as their second choice.

A maximum of four tickets could be bought for sessions which include medal events and there was a limit of six tickets for all other sessions.

Those selected for tickets will be told on September 11 and payment will be due by September 24.

Tokyo 2020 initially estimated that 7.8 million tickets would be made available for the Olympic Games but it is thought the figure could rise to nine million, according to The Japan Times.

Organizers have also confirmed that a third lottery for

Aiba clears executive committee members of breaking ethics code

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HOTTER THAN HOTCAKES

HE International Boxing Association (Aiba) Disciplinary Commission has concluded that allegations made against Executive Committee members Umar Kremlev and Volodymyr Prodyvus have not met the burden of proof.

Insidethegames exclusively revealed in June that Kremlev, Prodyvus and fellow Aiba Executive Committee member Emilia Grueva were facing an investigation from the Disciplinary Commission for alleged breaches of the ethics code.

A further charge was then added to the case against Kremlev after the Russian accused former Aiba President Gafur Rakhimov of lying and “deceiving the entire boxing community” in a statement released following an Extraordinary Executive Committee meeting in Geneva.

In an update to Aiba’s membership, Interim President Mohamed Moustahsane confirmed the proceedings against the three officials and said “an unethical statement quoting falsehoods” from Kremlev would be part of the probe into the Russian.

Kremlev claimed Aiba had “got rid of the man who deceived the entire boxing community, saying that he would pay off all debts and find a common language with the International Olympic Committee [IOC].”

“He brought Aiba to the risk of bankruptcy and he should apologize to the entire boxing community,” he added.

Kremlev, the Boxing Federation of Russia (RBF) secretary general and first vice president of the European Boxing Confederation (EUBC), and Ukraine’s Prodyvus were subjected to the investigation because of “alleged criminal convictions.”

Aiba, which is reviewing every Executive Committee member after it was suspended as the Olympic governing body for the sport by the IOC, believed both provided false information about their past.

But the body has now released statements regarding both Kremlev and Prodyvus, saying the Disciplinary Commission has concluded that the allegations made against them “have not met the burden of proof, as they relied ‘on a report that is based on questionable validity.’”

“The DC panel pointed out that the chair of the Ethics Commission cautioned readers that the report is founded only on public, i.e. journalistic sources and that those sources are not always reliable and may be biased,” the statement reads in the case of Kremlev.

In the case of Prodyvus, the statement reads: “The DC panel pointed out that the chair of the Ethics Commission candidly states that the report is founded only on public, i.e. journalistic sources and that those sources are not always reliable and may be biased.”

Kremlev is said to have provided the Disciplinary Commission panel with evidence, which “unequivocally” showed that, pursuant to the Russian Ministry of Internal Affairs, General Administration for Economic Security and Combating Corruption, he had no prior convictions or criminal history.

“The uncorroborated sources in the complaint did not outweigh the evidence presented by Mr. Kremlev,” the statement reads in his case.

Prodyvus, meanwhile, is said to have provided the Disciplinary Commission panel with evidence, which unequivocally showed that, pursuant to the Ukrainian Ministry of Internal Affairs, he had no prior convictions or criminal history.

“Consequently, the Aiba Disciplinary Commission closed the matter and dismissed the complaint against him,” the Aiba statements read in both cases.

Moustahsane, who took temporary charge of Aiba in March after Rakhimov stepped aside, suddenly resigned the interim presidency on August 6.

The Moroccan relinquished the position for family reasons, two officials with knowledge of the situation told insidethegames.

The Aiba Executive Committee is set to elect the replacement for him at an extraordinary meeting on August 31.

The meeting will take place in Istanbul and is being funded by the EUBC. Insidethegames

Japanese residents will be held in the autumn.

This will replace a first come, first served process that had been planned in the host country.

Details of this lottery will be announced in “due course.”

A first come, first served phase will open in the spring of 2020 for fans both in Japan and abroad.

People living outside of Japan can now purchase tickets through authorized ticket resellers in their home countries, however, with that process beginning in June.

Paralympic sales will begin in Japan on Thursday.

The Tokyo 2020 Olympics will run between July 24

and August 9 with the Paralympics following between August 25 and September 6.

Tokyo 2020, meanwhile, announced that an additional “live site” will be set up for fans in Hamamatsu during next year’s Olympic and Paralympic Games.

The news brings the total number of sites up to 30 with organizers confirming the final list today.

All of the live sites will allow visitors to watch the action on big screens with a list of 29 locations unveiled last month.

Eleven of these are in Tokyo itself with others in the Tohoku and Kumamoto regions which were hit by natural

disasters in 2011 and 2016.

The Hamamatsu site will be based at Entetsu Hall in the city in Shizuoka prefecture.

Organizers have also revealed a live site logo today which bids to emphasize the “unity” of the locations with the Games venues.

At the same time, the emblem is said to “express the enjoyment and excitement of what promises to be a unique experience for visitors.”

Run by the Tokyo Metropolitan Government and various other organizations, the sites will also offer onstage entertainment and the chance for fans to try out Olympic and Paralympic sports.

“The live sites will be set up and decorated in such a way that visitors will be able to really feel the atmosphere of the Games the minute they set foot inside them,” a Tokyo 2020 statement said.

Live sites will be built in nine prefectures in all.

In Tokyo they will be located at Yoyogi Park, Inokashira Park, Ikebukuro West Gate Park, Tokyo Metropolitan Government Building, a multipurpose space in Morioka Park, JR Morioka Station Waterfall Plaza, Kotodai Park, Tsurugajo Castle, Aquamarine Park, Kumamoto-jo Hall and in front of Takanawa Gateway Station.

Other authorities with multiple locations are Kanagawa prefecture—Katase Higashihama Beach and Odawara Castle Park—and Yokohama—New Yokohama City Hall and Yokohama Cultural Gymnasium.

Among the other locations are Odori Park in Sapporo, the Kaiseizan Outdoor Concert Theater in Fukushima prefecture, the Ibaraki Prefecture Hall, Sonic City in Saitama prefecture, the Asaka City Multipurpose Gymnasium, the Sayama City Center and the Makuhari Seaside Park in Chiba prefecture.

Completing the list are Fujisawa City Hall, the Yamanakako Communication Plaza Kirara, the Nirayama Cultural Center, Matsukawa Park in Ito, the Suyama Area Training Center, Aoba Ryokuchi Park and the JR Gotemba station. Insidethegames

Expect ‘heated’ discussions in Tokyo 2020 CDM seminar

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OKYO 2020 will host a three-day Chef de Mission Seminar from Wednesday with soaring temperatures and the ongoing test event schedule likely to be key topics discussed.

Every National Olympic Committee has been invited to the event at the Hotel New Otani, which will include a progress update and venue tour.

Rising heat has developed into a major concern with more than 50 deaths in July as temperatures in Japan approached 40 degrees Celsius.

Athletes have also struggled in the weather at the test events, including rowers suffering heatstroke at the World Junior Championships at the Sea Forest Waterway.

The triathlon event was shortened because of the humid conditions while cooling measures were tested at the beach volleyball.

Among the measures being considered to combat the problem is allowing fans to bring their own bottled water into venues under certain conditions, which had previously been banned at past editions of the Olympic Games due to security and sponsorship reasons.

Misting sprays, air-conditioned tents and special road coatings are other plans put forward by organizers, as well as moving some events to earlier in the day.

The Seminar will be attended by representatives from the International Olympic Committee (IOC) and Association of National Olympic Committees (ANOC).

Yukihiko Nunomura, Tokyo 2020’s chief operating officer, will begin with opening remarks while there will be speeches from acting ANOC President Robin Mitchell and James Mcleod, the IOC’s director of Olympic Solidarity and NOC relations.

The venue tour will take in sites, such as the new Olympic Stadium and the Athletes’ Village.

Lessons learnt from the test events will be discussed with one major concern so far the discovery of E.coli bacteria in the water at Tokyo Bay, which forced the cancellation of the Paratriathlon swimming. Other items on the agenda will likely include transport and accommodation. Insidethegames

‘CAN’T DO THAT IN TRIATHLON’ Britain’s Georgia Taylor-Brown (left) and Jessica Learmonth hold hands as they cross the finish line during the recent women’s triathlon test event at Odaiba Marine Park in Tokyo. But the duo are disqualified for causing a deliberate tie after taking the tape hand-inhand, giving the gold to Bermuda’s Flora Duffy.

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Wednesday, August 21, 2019

SILENCE ON THE COURT W

INSTON-SALEM, North Carolina—Duckhee Lee tossed the ball into the air for his first serve in an Association of Tennis Professionals (ATP) tournament match, and blasted it past his opponent with a loud pop.

The 21-year-old South Korean never heard it.

He was born deaf.

The tour’s first deaf professional player says he doesn’t want to be defined by the disability that he has overcome well enough to play at the sport’s highest level.

His first appearance in a top-level tournament will last at least until the second round. Lee beat Henri Laaksonen of Switzerland 7-6 (4), 6-1 in the first round of the Winston-Salem Open on Monday, earning a matchup with No. 3 seed Hubert Hurkacz of Poland.

As much as the opening-round victory meant to Lee and his career, it might have meant even more to hearing-impaired athletes in all sports.

“Don’t be discouraged and if you try hard, you can do anything, you can achieve anything you want,” Lee said through an interpreter, adding that he “doesn’t want people to get discouraged and get down about their disability.”

The ability to hear carries a particular importance in tennis. Players often insist on silence during points so they can hear the ball off their opponent’s strings and identify the spin in a splitsecond.

Lee makes up for it with his eyes, sharpening his focus on his opponent’s swing, how that player makes contact and the speed and spin of the ball as it’s racing toward him.

Complicating things further, he also doesn’t speak English, reads lips instead of using sign language, and relies on hand gestures from umpires making calls.

Because he can’t hear the score announcements, he keeps track of points and games in his head—which can be more difficult in smaller events that don’t have courtside scoreboards. It led to a hiccup early during his main-draw debut when he lined up to serve after a game had been decided.

“I think [the umpire] forgot to give the signal” at times during the match, he said, adding that he “was hoping he would give in and out signals.”

The debut in Winston-Salem marked the next step up the tennis ladder for Lee, who started playing tennis at age 7—the year after he realized he was deaf, though doctors had diagnosed his condition as a toddler.

“People made fun of [me] because of the disability and said [I] shouldn’t be playing,” Lee said, adding that his motivation was to “enjoy [my] life by overcoming my disability.”

Lee made his debut on the International Tennis Federation Futures Tour at 14 and won eight titles before he turned 18, then reached three finals of the Association of Tennis Professionals Challenger Tour, including one in June, falling to Dudi Sela at the Baptist Health Little Rock Open in Arkansas.

He brought a No. 212 world ranking to the central North Carolina hardcourts.

He’ll always remember his first ATP-level victory—and not just because of the result. Lee was two points away from sealing the victory when thunderstorms forced a weather delay of nearly five hours. He and Laakonsen came back to

Williams to begin 2020 season in Auckland

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ELLINGTON, New Zealand—Serena Williams is set to begin her 2020 season at the Women’s Tennis Association ASB Classic in Auckland in January.

Organizers of the ASB Classic announced the entry of the 23-time major winner on Tuesday. The 37-yearold Williams has played the hard-court tournament once before, losing in the second round in 2017.

On that occasion Williams’s experience of the Auckland tournament was not a happy one. She complained about the wind and cold weather, saying “it’s my least favorite conditions I’ve ever played in.”

Williams announced her engagement to fiancé Alexis Ohanian during her stay in Auckland and told reporters on Tuesday her memories of the city are “amazing.”

“Oh man, I want to win that title so bad,” Williams was quoted as saying. “Last time I was there I had so much going on and although I fought through to win my first match, I know I didn’t play to my level.

“I have such amazing memories that are really special to me from Auckland. I would really like to add some on court memories to that list.”

Williams’s preparations for the upcoming US Open have been hampered by injury. She withdrew from Cincinnati last week, citing the same back injury that forced her to retire from the Rogers Cup final in Toronto.

Chilean Juan Carlos Saez, meanwhile, has been banned for eight years for match-fixing.

The Tennis Integrity Unit says Saez refused to cooperate with its investigation and also failed to report “a corrupt approach” at a tournament.

Saez originally attracted the TIU’s attention because of evidence of unusual patterns on betting markets around his matches.

Saez’s career high ranking is 230. He is currently 1,082nd after his ranking dropped during the investigation.

He hasn’t played a tournament since November.

According to the TIU, 12 mostly low-ranked players have been sanctioned so far in 2019 for various charges related to match-fixing and betting, along with one coach and one umpire. Others are suspended while under investigation. AP

DUCKHEE LEE, the tour’s first deaf professional player, says he doesn’t want to be defined by the disability that he has overcome well enough to play at the sport’s highest level.

the court at roughly 10:15 p.m.—and wrapped up their match in 87 seconds.

When he was asked how he spent the delay, Lee got his point across with pantomime, mimicking someone playing table tennis and shooting basketball, because there was both a pingpong table and pop-a-shot machine in the players’ lounge. He smiled as his translator said how “he loves the facility here.”

BIANCA ANDREESCU (left) consoles Serena Williams after Williams had to retire from the final of the Rogers Cup in Toronto recently. AP

STARTING IN EARNEST T

IGER WOODS wants the eight players who made his Presidents Cup team and four more under consideration as captain’s picks to play tournaments and stay sharp over the next three months leading to the December matches Down Under.

Left unclear was whether that applies to the captain if Woods decides to pick himself.

Woods said he told prospective Presidents Cup players at a meeting two weeks ago how important it was to be committed to the team and to the event.

“And that means playing and being prepared,” he said during a conference call Monday evening. “The only time we have ever lost the Cup was in Australia, and quite frankly, some of the guys didn’t play or practice that much. It was our off-season, and we got beat pretty badly.”

The matches were held the first week of December in 1998 at Royal Melbourne, and the International team routed the Americans so badly it clinched the cup before lunch was served. It remains the only time the International team won since the Presidents Cup began in 1994. The teams tied in South Africa in 2003.

“It’s something I try to reinforce to the guys, that it is important to be solid, be fresh and be sharp,” Woods said. “We’re going overseas and we’re playing against an amazing team, and it’s their soil. These guys are going to be tough to beat.”

The Americans won in a return to Royal

Melbourne in 2011 when it was held in midNovember. This time, the matches end 10 days before Christmas.

Woods and Phil Mickelson were part of that first US team that went to Melbourne, and only one of them was assured of returning 21 years later. Woods is a captain for the first time and eventually will decide whether to be the first playing captain of the Presidents Cup since Hale Irwin in 1994.

The Masters champion was not among the eight qualifiers after the BMW Championship, finishing 13th in the standings. And while he wants his players and potential picks to stay sharp, Woods has only one tournament on his schedule—the Zozo Championship in Japan from October 24 to 27.

So does that rule him out when he makes his four picks a week after Japan?

“I don’t know. That’s up to myself and the vice captains and eight guys,” he said.

“I’m going to keep an open line of communication with my players and my vice captains to find the four guys that they want to go down there with and who best fits the team.”

The eight qualifiers are Brooks Koepka, Justin Thomas, Dustin

Johnson, Patrick Cantlay, Xander Schauffele, Webb Simpson, Matt Kuchar and Bryson DeChambeau.

All but Cantlay and Schauffele have played in a Presidents Cup or Ryder Cup. Cantlay played in the Walker Cup in 2011.

Among those needing a pick are US Open champion Gary Woodland, Tony Finau, Rickie Fowler, Patrick Reed, Chez Reavie and Kevin Kisner—along with Woods and Mickelson, who has played on every US team dating to the 1994 Presidents Cup. All but Finau have won tournaments this year.

When asked if Mickelson would be a vice captain if he doesn’t warrant a captain’s pick, Woods instead spoke of the experience of the three assistances he has—Fred Couples and Steve Stricker, who both were winning Presidents Cup captains, and Zach Johnson, who is part of the Ryder Cup committee. AP

TIGER WOODS wants the US Presidents Cup players stay sharp over the next three months leading to the December matches Down Under. AP

Double-duty at Villanova, USA Basketball for Wright

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AY WRIGHT immediately accepted a chance to be an assistant coach with USA Basketball for this year’s World Cup. And then he checked his calendar.

Villanova students are headed back to school this week—while the Villanova men’s basketball coach will be halfway around the world for the next month or so. It has been, and will continue being, a major schedule challenge for Wright as he’s tasked with both helping USA Basketball win a gold medal while his players are on campus getting ready to start their seasons.

“It was a snap ‘yes.’ That’s the problem,” Wright said. “And then after you think about it, you’re like, ‘wow.’ Only then do you realize what you’re missing at home.”

To be clear, Wright said this is a problem only half-seriously.

Logistical matters weren’t going to keep him

from being part of the staff of assistants that include Golden State’s Steve Kerr and Atlanta’s Lloyd Pierce—all working under USA Basketball head men’s coach Gregg Popovich of the San Antonio Spurs.

“This is basketball heaven,” Wright said.

It’s not uncommon for college coaches like Wright to be part of the USA Basketball mix, which can collide with college calendars. At the most recent World Cup in 2014, Duke’s Mike Krzyzewski was the head coach and Syracuse’s Jim Boeheim was one of the assistants—and that tournament ended in mid-September.

But at this tournament, which starts August 31 in China with the Americans playing their first game against the Czech Republic a day later, Wright is the only college coach on the US roster.

Popovich, Kerr and Pierce all have some time before their “real’ teams start practice. Wright

doesn’t have that luxury.

“He’s kind of doing double-duty right now,” Popovich said. “He’s keeping in touch with his kids, and obviously doing a great job with the USA team.

But he hasn’t forgotten about his Villanova guys.”

To make this work, Wright rearranged Villanova’s summer schedule, everything from player workouts to coaching meetings. He was able to do his usual gamut of recruiting, but his usual start-of-semester matters like meeting with parents and having newcomers get acclimated now will fall on his staff of assistants until he returns.

“You don’t say no to this,” Wright said.

The Americans needed a 17-hour flight from Los Angeles before arriving in Melbourne, Australia, where they resumed practice on Monday. They’ll play three games in Australia, the first of those coming on Thursday, before heading to China next week. AP

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Wednesday, August 21, 2019 C3

APL.DE.AP OPENS, CLOSES 30TH SEAG I

APL.DE.AP will share the spotlight in the 30th Southeast Asian Games.

BWB winds up in thrilling fashion

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HE fourth and final day of Basketball Without Borders (BWB) Asia 2019 in Tokyo concluded in thrilling fashion as 64 campers from 18 countries and territories in Asia-Pacific competed in playoffs and championship games.

The campers also took part in a three-point contest and two All-Star games that featured Batang Gilas forward Joshua Rafael Lazaro, Jr. NBA Philippines AllStars Harold Alarcon and Florence Jil Talas.

The camp got underway in the morning with playoff games to determine the championship games matchup.

On the girls side, the New York Liberty and the Los Angeles Sparks faced off in the championship game, with the Liberty—coached by former Women’s National Basketball Association player Ashley Battle—winning, 33-18.

The boys championship game then followed, with the Orlando Magic, coached on the sidelines by current NBA Assistant Coach Pat Delany, defeating the Minnesota Timberwolves 22-16.

After the championship games, the boys and girls competed in the three-point competition finals.

Mustafa Rashed from Bahrain was crowned the boys three-point champion, while Japan’s Miyu Ogita came out on top in the girls’ side.

The West All-Stars pulled out a win for the girls, 2923, while the East All-Stars emerged victorious in the boys side with a 42-37 victory that saw Alarcon emerge as the Boys All-Star Game MVP. Junseok Yeo (South Korea) was named Boys MVP, while Georgia Woolley (Australia) was crowned MVP in the girls side.

NTERNATIONAL music star apl.de.ap— Allan Pineda Lindo in real life—will highlight the grand Opening and Closing Ceremonies of the 30th Southeast Asian Games the country is hosting at the end of the year.

Pineda, a certified world-class rapper, will highlight the opening ceremony on November 30 at the 55,000-seat Philippine Arena in Bulacan. It marks the first time in SEA Games history that an opening ceremony will be held indoors.

On December 11, the Filipino-American, who was born in Sapang Bato, Angeles, Pampanga, will be joined by his world-

famous group, Black Eyed Peas, for the closing ceremony at the Athletics Stadium at New Clark City in Capas, Tarlac.

Ryan Cayabyab is also lending his mastery of musing in the ceremonies where some 10,000 participants from the other 10 visiting countries are expected to gather in the Philippine Arena and three other locations during the opening rites.

“Thank you for having me as part of this tremendous and prestigious sporting event. I wouldn’t miss it for the world,” Pineda said.

“I was born in Sapang Bato [Angeles, Pampanga]. We have a brand new stadium

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Filipino archers brace for tough competitions

HILIPPINE archery hopes to do its own share when the Southeast Asian Games returns to the country for its 30th edition later this year.

The recurve and compound teams seeing action in the November 30 to December 11 competitions are composed of young and promising archers hoping to end a gold medal drought in the last two Games.

National Coach Clint Sayo told Tuesday’s Philippine Sportswriters Association Forum at the Amelie Hotel-Manila that the SEA Games team will be led by Asian Games bronze medalist Paul Marton de la Cruz, Youth Olympic Games gold medal winner Gabriel Moreno and ageless Olympian Jennifer Chan.

Moreno leads the four-man recurve team along with Florante Matan, Jayson Feliciano and Carson Hastie, while the women’s side is composed of Kareel Hongitan, Pia Bidaure, Phoebe Amostoso and Gabrielle Monica Bidaure.

De la Cruz, a bronze medal winner in the Kuala Lumpur 2017 SEA Games, banners the men’s compound team together with Johan Olano, Roberto Badiola and Arnold Rojas.

Chan, Andrea Robles, Rachelle Ann de la Cruz and Abbigail Tinugduan make up the women’s compound squad.

De la Cruz and the 21-year-old Robles, seeing action in the SEA Games for the

LETRAN’S Fran Yu (3) loses his balance, and the ball, against a seemingly lost Alex Desoyo of San Sebastian. NONOY LACZA

CARGO MOVERS ENTER FINALS FOR FOURTH CONSECUTIVE TIME

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2 Logistics marched to its fourth straight Philippine Superliga All-Filipino Conference finals appearance as it knocked out Foton, 25-19, 25-23, 17-25, 25-19, in the semifinals on Tuesday at the Muntinlupa Sports Center.

The Cargo Movers didn’t waste their twiceto-beat advantage as Kalei Mau, Majoy Baron and Kianna Dy nailed the finishing touches in the fourth set to eliminate the Tornadoes led by sisters Jaja Santiago and Dindin Santiago-Manabat in two hours and 12 minutes.

Mau reached her first Superliga Finals leading the Cargo Movers with 16 points on top of 12 dugs and eight excellent receptions, while skipper Aby Maraño had nine kills and three blocks for 12 points.

Ara Galang and Baron were also instrumental with nine and seven points, respectively.

Kim Fajardo dished out 24 excellent sets while Dawn Macandili had 30 digs.

“Well, Foton was a big challenge. But entering the Finals will be our biggest test. This is an unfinished business for us,” said F2 Logistics Head Coach Ramil de Jesus, who last won the All-Filipino title in their debut in 2016.

Since joining three years ago, F2 Logistics has been in the All-Filipino finals and reached the PSL championship round for seven consecutive times out of its eight overall appearances.

The best-ofthree finals series is set on Saturday at the Smart-Araneta Coliseum with F2 Logistics battling the winner of the other semifinals pairing between

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national coach, who won a gold medal in individual recurve in the Jakarta 1997 Games.

The usual suspects are again expected to crowd out the Filipinos for the gold with Malaysia leading the way, followed by Vietnam and Singapore.

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AN SEBASTIAN College survived a big scare from Letran to escape with a 102-101 overtime victory in the National Collegiate Athletic Association Season 95 men’s basketball tournament on Tuesday at the Filoil Flying V Centre in San Juan City.

Without Coach Egay Macaraya and six of their players fouling out, the Golden Stags remained composed to get the job done despite almost

The third leg of the Asia Cup will be held in the country from September 8 to 15 at the Clark Parade Grounds which Sayo said would be a test event for the Filipino archers as the venue will also serve as the site of the SEA Games archery competition. blowing away a double-digit lead they built in the fourth quarter.

The victory snapped a three-game skid for San Sebastian, which last played in June 30 because of several postponements caused by bad weather.

The Stags improved to 3-3 won-lost.

“Every practice I always remind the players that they should follow the game plan,” said Assistant Coach Melo Banua, who called the shots in the absence of the Macaraya. “They are hungry for a win, and it showed in this game.”

Macaraya served a one-game suspension for unsportsmanlike conduct during a timeout in their loss to Lyceum last month.

RK Ilagan tallied 22 points and seven assists to topscore for San Sebastian. Allyn Bulanadi added 21 points and four rebounds, including an assist to Ken Villapando who banked in the winning basket with 18.5 seconds left.

The Golden Stags were on a roll, widening the cushion on a steady pace for a 78-66 advantage with less than eight minutes remaining.

But the Knights changed the course behind Larry Muyang, who spiked an 11-0 run with his eight points to forge a tie at 87.

Muyang, who had a career-game of 32 points and 18 rebounds, sank two crucial charities to make it 91-all and force the extra period.

It was a defensive battle in overtime but San Sebastian pulled the biggest stops after Villapando hit his game-winner.

Jerrick Balanza had 21 points for the Knights, while Fran Yu added 13 points, five boards and seven assists. Letran dropped its third loss in eight games.

THAT’S ALL

San Miguel Slam peeps in horizons

THE fans have not forgotten: June Mar Fajardo and Chris McCullough did not win the prime awards in the just-ended Philippine Basketball Association (PBA) Commissioner’s Cup. Fajardo, the 6-foot-10 perennial pillar of San Miguel Beer, lost the Best Player of the Conference (BPC) award to TNT KaTropa’s Jayson Castro.

And McCullough, the 6-foot-9 import of San Miguel Beer, yielded the Best Import of the Conference (BIC) plum to TNT KaTropa’s Terrence Jones.

The awarding ceremonies preceded the Commissioner’s Cup Finals.

But Fajardo and McCullough, obviously, didn’t mind and never allowed themselves to be sucked in by envy, or even showed resentment at all.

They were deserving of the awards had they won, especially in the light of what they had done for the team that climbed out from a 2-5 hole for a 5-6 finish that sent San Miguel Beer barging into the next round via the back door.

While Fajardo worked his butt out to save his team from ouster in another gigantic bailout effort, very extraordinary too was McCullough’s performance in San Miguel’s journey to the second phase.

Dispatched to replace the aging Charles Rhodes, McCullough, 24, sparked the Beermen’s allimportant three victories in SMB’s last four games to snatch one of the last two tickets.

Still, SMB had a scary stint in the quarterfinals as it needed to overcome Northport, which finished a stunning runner-up behind TNT after the eliminations.

To get to the semifinals, the Beermen must score back-to-back wins against the Batang Pier, which they did in a yet outstanding manner.

After that, with the Finals suddenly within reach again, San Miguel Beer outgunned Rain or Shine in the best-of-five series to arrange the bestof-seven title playoffs against TNT. With their magnificent run en route to their 42nd Finals stint since they became one among nearly 14 founding teams of the league in 1975, the Beermen were installed, albeit grudgingly, the favorites in their crown clash against the KaTropa.

But having only a one-day rest from the semifinals, a still-fatigued San Miguel dropped the first game.

Then after barely eking out a pulsating Game Two win in two overtimes, the Beermen lost Game Three to trail, 1-2.

But after equalizing the series at 2-2, the Beermen had become unstoppable from there, winning the next two games in a rare feat of stringing up three straight victories to clinch a 4-2 series triumph.

The conference victory extended San Miguel’s winning mark to 27 record titles but more important, it immediately became pregnant with historic possibilities, which includes a pretty good chance for the Beermen to pocket their second Grand Slam in 30 years.

As the back-to-back champions of the Philippine Cup and Commissioner’s Cup, only the Governors’ Cup set to start next month remains missing in San Miguel’s bid to duplicate its first Slam in 1989.

SMB Coach Leo Austria was credited with snaring McCullough. It’d be thus logical for him to also scout his team’s import for the next Conference, which limits an import’s height to 6-foot-5.

With his lofty record of winning seven of his eight Finals appearances as an SMB coach since 2014, Austria looks every inch ready to bag his first Slam. Cross my heart, Leo.

PEE STOP Include Terrence Romeo’s Finals MVP trophy to SMB’s recent title victory, the twin feats more than equaled, if not erased, TNT’s individual awards won by Jayson Castro and Terrence Jones. It was also sweet revenge for Romeo, who was shipped out by TNT to San Miguel in a somewhat messy swap bathed in bitterness and pricked pride.

Thai ace back to defend crown in Lipa golfest

ABY MARAÑO has nine kills and three blocks for 12 points for F2 Logistics.

straight-set fashion, making them the favorites over the Perlas Spikers in the 6 p.m. main dish of another explosive triple-bill in the all-Filipino conference of the league organized by Sports Vision.

But the Perlas Spikers are back on track after losing in four to the Lady Troopers following their surprise win over the Reinforced Conference champions Petro Gazz Angels with former

recently welcomed a Phisgoc delegation which went on a working visit to the Olympic Council of Malaysia (OCM) headquarters in Kuala Lumpur.

The team—composed of Director for Ceremonies and Cultural Events Mike Aguilar, Director for Support Jojit Alcazar and Head of Torch Relay Sandra Dy—proposed to organize a Torch Relay-related event in the Malaysian capital in October.

They were welcomed by OCM SecretaryGeneral Dato’ Mohd Nazifuddin, General Manager Wan Hor Fong and Games Operations Manager Norhashimi Hussain. Ramon Rafael Bonilla

COACH Clint Sayo (right) and archers Paul Marton de la Cruz and Andrea Robles grace Tuesday’s forum. ROY DOMINGO

STAGS END 3-GAME SKID

reigning champion Petron or Cignal.

The Cargo Movers failed to close out the match in the third set as the Tornadoes leaned on their fiery 5-0 start sparked by Ivy Perez’s three straight aces 23-15, while the Santiago Sisters, Shaya Adorador and Eya Laure, 23-15 and forced another set.

F2 Logistics erased a 13-14 deficit scoring seven unanswered points led by Maraño, Galang and Mau for a 20-14 lead before Baron delivered back-to-back points for a 22-15 breather but Manabat and Eya Laure conspired for a 3-0 run to trim it to just four.

Kianna Dy stopped the bleeding, 23-18, while back-to-back attack errors from Foton let F2 Logistics moved to the finals.

Jaja and Dindin carried the Tornadoes with 20 and 15 points, respectively, while Marian Buitre and Laure had 10 and nine points for Foton, which gave up 37 errors to be relegated in the bronze match on Saturday.

Cool Smashers face Perlas Spikers REAMLINE gets the chance to flaunt its awesome form the fourth time around but against a fired-up BanKo-Perlas side while veteran-laden PacificTown-Army and newcomer Choco Mucho clash in the Premier Volleyball League Season 3 Open Conference at the Filoil Flying V Centre in San Juan on Wednesday.

The Cool Smashers kicked off their titleretention campaign on a three-win romp, all in

first time and daughter of former national swimmer Mark Robles, were with Sayo in the weekly public sports program presented by San Miguel Corp., Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp.

The Filipino archers last won a gold in the regional meet in 2013 in Myanmar courtesy of the men’s compound team of Earl Benjamin Yap, Ian Patrick Chipeco and Delfin Anthony Adriano.

In Malaysia two years ago, they took home a silver and four bronze medals.

Sayo is tempering expectations especially with the country hosting the games for the first time in 14 years. Nonetheless, he sees the archers delivering medals of any color.

“As much as possible we would have wanted to have good results. But as of now, I can only assure you that we will win medals. As to the classification, whether it’s gold, silver or bronze, I keep it to myself for the meantime,” said the

there. I can’t wait to perform and do the closing ceremony. I’m really proud to be part of this.

Salamat po,” he added.

Pineda formalized his participation in the SEA Games through a contract signing at the House of Representatives on Tuesday with House Speaker Alan Peter Cayetano, also the chairman of the Philippine Southeast Asian Games Organizing Committee, along with Philippine Olympic Committee President Abraham Tolentino, Phisgoc COO Ramon Suzara and Philippine Sports Commission Commissioners Ramon Fernandez and Arnold Agustin.

The Olympic Council of Malaysia, meanwhile,

AL MENDOZA alsol47@yahoo.com

University of the Philippines (UP) stalwart Nicole Tiamzon and former Ateneo star Dzi Gervacio emerging as the top 2 scorers in the early going of the double round elims.

Tiamzon and Gervacio even led Alyssa Valdez with 48 and 46 points with the Creamline ace hitter settling for 44 markers while giving the rest of the Cool Smashers the chance to shine.

They include Michele Gumabao, who is at fourth in scoring with 33 points with teammate and former Adamson standout Jema Galanza in fifth with 32.

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UPAPORN KAWINPAKORN takes a crack at a tough field made up of fellow Thais, two Korean aces and a slew of local bets, confident but wary of her chances for a title repeat in The Women’s Championship at Summit Point unfolding on Wednesday in Lipa City.

The veteran campaigner, who anchored the Thais’ six-title haul in last year’s edition of the Ladies Philippine Golf Tour (LPGT) with two victories, has vowed to better her winning 10-under total as she faces a souped-up roster in the 54-hole championship on a course that features 18 of the world’s renowned golf holes.

“I expect to score at least four-under each day but I need to hit more greens to do it,” said

the former Philippine Amateur Open winner at The Country Club. “But for sure, I will give my best to defend my crown.”

Kawinpakorn held off Asian Games team gold medalist Lois Kaye Go in the final round to win by three in a big follow-up to her title romp at Beverly Place last year, but the 27-year-old shotmaker will be in for a tougher challenge this week from among compatriots Nemittra Juntanaket, Sangkagaro Pimpadsorn, Ajira Nualraksa and Tiranan Yoopan, Koreans Hwang Min-jeong and Kang Dayun and Pinays Chihiro Ikeda, Cyna Rodriguez, Marvi Monsalve and club bet Gretchen Villacencio.

Juntanaket, for one, is out to make it two-

in-row after ruling the Mount Malarayat Ladies Classic last week with Pimpadsorn and Nualraksa raring to score a breakthrough in the country’s premier circuit put up by the International Container Terminal Services Inc. and Yoopan also back in the circuit and due for a big win.

Hwang has also vowed to go all-out this week after struggling in the first two days at Mount Malarayat as she bids for a second crown after nailing the Splendido leg last January to launch her pro career while Ikeda and Rodriguez hope to cash in on whatever home advantage they enjoy and foil another foreign domination in the circuit organized by Pilipinas Golf Tournaments Inc.

PROMOTING WELL-BEING

RUSSIAN FORGER

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OSCOW—A Russian athletics coach is under investigation after being accused of forging competition results to boost his athletes.

The Russian Athletics Federation says it’s requested files from a regional competition this month in Siberia, where Coach Vasily Shkurbitsky doubled as a competition referee.

A popular Russian track writer, Maxim Karamashev, earlier detailed what he said were major inconsistencies between preliminary results and final results sheets signed off by Shkurbitsky, which often served to make athletes he coached eligible for higher status in the Russian state sports system.

Karamashev alleged the time of one athlete was slashed by over eight seconds for the 800 meters, a dramatic improvement. AP

AAAHHHH!!!! River Ridge’s (Louisiana) Conner Perrot celebrates as he stands on second base after

More women events than men in 2022 Commonwealth Games

driving in two runs with a double off Coon Rapids’ (Minnesota) Carson Timm in the fourth inning of their elimination game at the Little League World Series in South Williamsport, Pennsylvania on Monday. AP

Sports BusinessMirror

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HE inclusion of more women’s medal events than men’s at the 2022 Commonwealth Games happened by accident and was not a focus in selecting sports for the event, according to Commonwealth Games Federation (CGF) President Dame Louise Martin.

Women’s cricket, beach volleyball and Para table tennis were announced as events for the 2022 Games in Birmingham, where there will be 135 medal events for women, and 133 for men.

After the 2018 Games in Gold Coast were the first to have the same number of men’s and women’s medals at a major multisport event, Birmingham 2022 will be the first to have more medals on offer for female athletes.

Dame Louise claimed that the CGF only became aware of this in the final days before the announcement of the event program at Birmingham 2022, and although it was something she had previously considered, it came into reality purely by chance.

“It was always at the back of my mind, because we’ve been so far behind—when I competed there were only two women’s events, swimming and athletics,” Louise told insidethegames. “It is only over the last couple of years that we have thought, maybe we should be pushing this harder.”

“It wasn’t because of this that women’s cricket is in, they deserve to be here, we’ve just tried to encourage and advocate more young girls in sport,” Louise added.

“The balance of medals was never taken into consideration, it was a case of what medal events would suit the program, it was only when we looked at it afterwards that we realized there were more women’s events, we had to do a double check. It is only in the last week that we have confirmed that is the case,” she said.

David Grevemberg, chief executive of the CGF, claimed gender balance would not be a primary consideration when deciding on future event program, but hailed the increased number of female medal events in Birmingham “I think the composition of the sports program, having a world first of more women’s events than men’s, is a profound statement,” he said.

“We were the first multisport event to have parity, in Gold Coast, and following that some Games have looked to do the same.

“The way we organize our optional sport program, sometimes the balance is tipped. Up until 2018 it had tipped the other way, now it’s the other way, that’s the beauty of the optional sports program, it may be different for 2026.”

Women’s Twenty20 cricket, meanwhile, will makes its Commonwealth Games debut in 2022, while beach volleyball and Para table tennis were medal events at Gold Coast 2018.

The International Table Tennis Federation is delighted to learn that the CGF has accepted the Birmingham 2022 Organizing Committee’s recommendation for the inclusion of Para table tennis.

“We wish to acknowledge the invaluable assistance of Table Tennis England in preparing the submission.

“This will hopefully provide us with an opportunity to build upon the successes of the Gold Coast Games, to further the development of our Para athletes across the Commonwealth and provide an impetus for activity on the local and national scene in England.

“The inclusion of Para table tennis in multisport competitions that are not exclusively ‘Para events’ is also a clear proof of how popular table tennis is and how viable it is for local organizing committees to stage our sport.”

International Volleyball Federation President Ary Graça expressed his satisfaction at beach volleyball appearing at Birmingham 2022.

“We are honored that beach volleyball has once again been selected for the Commonwealth Games after its successful debut at Gold Coast,” he said. “Volleyball is an inclusive sport that is enjoyed all over the commonwealth by people of all abilities and backgrounds.” Insidethegames

C4

| Wednesday, August 21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Dutch athletics reeling after arrest of 2 runners

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HE HAGUE, Netherlands—With the times she’d been running this season, Dutch athlete Madiea Ghafoor could have earned a trip to the World Championships in Doha next month as part of her country’s 400-meter relay team. Instead, she is in a German jail awaiting trial on drug trafficking charges.

Another promising Dutch sprinter, 21-yearold Roelf Bouwmeester, also won’t be competing any time soon after Hungarian police arrested him earlier this month at a music festival and accused him of drug dealing.

Ad Roskam, technical director of the Dutch track and field association, said Thursday the sport’s administrators are in shock at the recent arrests.

“We still have no reason to believe it is anything else than coincidence that we have two cases now, as if one is not shocking enough,” Roskam said in a telephone interview.

Ghafoor’s lawyer in Germany did not immediately return a call seeking comment. A lawyer representing Bouwmeester told Dutch media in Hungary this week that Bouwmeester has not yet commented on the case.

The first arrest came when German authorities stopped a car at a routine highway

border check on June 18. Prosecutors allege that the vehicle was carrying 13.19 kilograms (29 pounds) of crystal meth and 43.34 kilograms (95.5 pounds) of ecstasy, as well as €12,313.50 ($13,730) in cash.

Judith Gottwald, a spokesman for the Kleve state court, confirmed that a 26-yearold Dutch sprinter from Amsterdam had been charged with trafficking a large quantity of drugs, but would not release her name in line with German privacy laws. The sprinter is currently in investigative custody pending trial but no date has been set.

Weeks later, security guards in Hungary said they noticed a large number of visitors to a tent at the Sziget music festival. Police said in a statement that when they went to investigate they found pink ecstasy pills and pre-rolled marijuana cigarettes in plastic tubes. They arrested two Dutch men, including Bouwmeester, on suspicion of drug trafficking.

Days later, Hungarian police tracked down a van allegedly linked to the suspects and discovered thousands more pills and marijuana cigarettes.

Both men remain in custody.

Roskam said both Ghafoor and Bouwmeester were part of the Dutch national relay setup. He

HAVING more women events over the men in the Birmingham Games happen by accident.

said they train at their own clubs, not at the national training center.

Bouwmeester had been selected for the European Under-23 championships and “Madiea, given the times she had produced this season, she could have been selected for the World Championships,” Roskam said.

The athletics association has been in contact with teammates of the two athletes following the arrests.

“Some athletes are more upset and some are not upset—they are focused on preparing for the next tournament and training,” Roskam said. AP

THE Netherlands’ Madiea Ghafoor competes in the women’s 400 meter semifinal at the European Athletics Championships in Berlin, Germany, in August last year. AP

By Eddie Pells The Associated Press

D

ENVER—The US Olympic and Paralympic Committee (USOPC) is taking steps designed to help athletes in the wake of Olympic sex-abuse scandals, proposing an increase in their numbers on its board and a recasting of its mission statement to include the job of promoting their well-being.

These changes are part of a proposal, released Monday, to rewrite the USOPC bylaws. The proposal comes 20 days after federal lawmakers—looking for a shakeup in the wake of the Larry Nassar scandal—rolled out their own drastic overhaul of the law governing the USOPC. The USOPC portrayed its proposal as merely a first step and, indeed, the measures lack many of Congress’ more aggressive proposals, which included a quadrupling of funds for the US Center for SafeSport and a provision that gave Congress authority to fire the entire USOPC board.

And while the USOPC did mention the Borders Report—a detailed examination of the troubled federation released earlier this summer—it fell far short of implementing all the recommendations in that report, either.

It did heed athletes’ calls for more representation, proposing an increase of their makeup on the board from 20 percent to 33 percent. But under this proposal, the extra 13 percent could come not from the Athletes’ Advisory Council but from the US Olympians and Paralympians Association, an alumni group that had gone largely unmentioned in much of the reform talk to this point.

The USOPC would change the top line of its mission statement to read: “empower Team USA athletes to achieve sustained competitive excellence and well-being.”

Previously, the well-being part was not mentioned.

The USOPC will hear comments on the proposal for 60 days before the board votes on it.

Its leaders say athletes are at the center of the overhaul they are trying to execute in the wake of Nassar and other sex-abuse scandals, though critics say the process is taking too long and not going far enough.

In reality, there is no quick way to overhaul an 87-page document that is filled with legalese and tiptoes through the confusing nature of the relationship involving the USOPC, the national governing bodies (NGBs) that run the individual sports and the athletes.

The USOPC proposal would give athletes more say in the way they govern themselves and in the running of the federation itself. It doesn’t delve into the difficulties of finding active and recently retired athletes who can devote the time and brain power to running these complex organizations.

Some of the most drastic rewriting would come in the area of the USOPCNGB relationship.

NGBs are responsible for the day-to-day running of the sports they oversee. They get money from the USOPC and need the federation’s blessing to be part of the Olympic pipeline, though the direct lines between NGBs and the USOPC has always been murky.

Under new rules—which are very much like what Congress proposes— the USOPC would take greater control over NGBs, calling for annual audits and a more formalized compliance mechanism.

That would, in theory, leave no doubt that the USOPC is ultimately responsible for an athlete’s welfare—a status that was left dangerously hazy, as has been revealed in numerous legal filings and congressional hearings, to say nothing of the testimony of dozens of gymnasts who spoke during Nassar’s sentencing hearing.

With all my heart

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EAR God, with all Your heart; You have heard the words of my mouth. In the presence of the angels I praise You. I bow down toward Your holy temple. I give thanks to Your name for You have exalted over all Your name and Your promise. On the day I called, You answered me; You increased the strength of my soul.

The Lord is high, yet looks on the lowly and the haughty God knows from afar. You give me life though I walk amid affliction; You stretch out Your hands against the anger of my foes. With Your right hand You save me; the Lord will accomplish this for me. Oh Lord Your merciful love is eternal; discard not the work of Your hands. Amen.

Psalm 138:1-3, 6-8.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

SUI GENERIS: PUT A STOP TO OVERTHINKING EVERYTHING D4

Wednesday, August 21, 2019

D1

HUAWEI ENABLES PHL LEAP INTO 5G

Google employees call for pledge not to work with ICE

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By raCheL LerMan The Associated Press

AN FRANCISCO—Hundreds of Google employees are calling on the company to pledge it won’t work with US Customs and Border Protection (CBP) or Immigration and Customs Enforcement (ICE). It’s the latest in a year full of political and social pushback from the tech giant’s work force.

A group of employees called Googlers for Human Rights posted a public petition urging the company not to bid on a cloud computing contract for CBP, the federal agency that oversees law enforcement for the country’s borders. Bids for the contract were due August 1. It is not clear if Google expressed interest.

The company did not return a request for comment.

More than 900 Google employees had signed the petition by Friday afternoon. Citing a “system of abuse” and “malign neglect” by the agencies,

the petition demands that Google not provide any technical services to CBP, ICE or the Office of Refugee Resettlement (ORR), which provides services for refugees, until the agencies “stop engaging in humanrights abuses.”

“In working with CBP, ICE, or ORR, Google would be trading its integrity for a bit of profit, and joining a shameful lineage,” the organizers wrote.

They cited federal actions that have separated migrant children from parents and set up detention centers with poor conditions.

Google employees have led a growing trend in which some tech-company employees have taken public stances against their employers’ policies.

Thousands of Google employees walked out last fall to protest the company’s handling of sexual misconduct claims. Employees also protested a Pentagon contract last year over work that used artificial-intelligence technology to analyze drone footage.

The protests have chalked up some victories.

After the walkout, Google announced new sexual misconduct guidelines, although some employees say they don’t go far enough. And the company did not renew the Pentagon contract after significant pushback.

Responding to some employee pressures has added fuel to claims from Republican pundits and lawmakers that the company is building its products to be biased against conservatives—an unfounded claim that has spawned multiple congressional hearings, although none that have produced evidence of bias.

Google was hit with criticism by President Donald J. Trump last week when the president tweeted he was “watching Google very closely” after a former employee claimed on Fox News—without evidence— that the company would try to influence the 2020 election against Trump.

Google has denied claims of political bias in its popular search service and other products. n

UNLIKE traditional wireless connections, 5G is the next generation of mobile and wireless broadband technology, capable of ultrafast speeds and excellent reliability. This will deliver fixed and mobile broadband services to Filipinos, at home or in the office.

Networking and consumer electronics giant Huawei ensures that the Philippines will be ahead of other countries in terms of 5G development. In fact, the spectrum for this fifthgeneration technology is all ready to bring consumers greater capacity for more data and faster connections for Filipinos to resolve Internet dilemma. As a result, home wireless broadband Internet will increase because this provides a great alternative to fiber and fixed cable networks.

The company suggests considering proper regulation of amenities that will support 5G technology to make sure Filipinos experience maximum speed. Expected subscribers might also consider reusing their old 4G SIM cards or get a device that is 5G-ready like the world’s fastest foldable 5G phone Huawei Mate 20X and Huawei 5G CPE Pro. These Huawei devices were launched months earlier than their competitors.

For Huawei, innovation is a marathon, and that is what sets it apart from competitors. They invested in the development research of 5G as early as 2009, when 4G was just starting to see an opportunity for commercial deployment. Knowing that innovation is not only about technology, Huawei understood that part of their success would be to make 5G easier to function, more affordable and simpler to deploy.

This principle helped Huawei leap to success. The company’s 5G network has become the world’s best. It leads through global commercialization, and even claimed top spot in technological contribution to 5G standards. Moreover, as of June 2019, Huawei has already signed more than 50 commercial contracts with network operators across the globe. Empowering partners, the shipment of Huawei 5G base stations has successfully reached more than 150,000 plus. Today, it continues to accelerate industry digitalization to connect and empower manufacturing, energy, media, transportation, public services, health care and education.

Telecom powerhouse Globe, in partnership with Huawei, recently organized a glass room tour in Globe Iconic Bonifacio High Street Amphitheater to give Filipinos a glimpse of what they can greatly achieve with Globe At Home Air Fiber 5G—a wireless broadband that uses Huawei 5G CPE Pro modem equipped with a 5G multimode modem chipset called Balong 5000. This allows users experience up to 10 times faster speeds as compared to its predecessor, 4G Long Term Evolution (LTE).

Last month, Globe made the Philippines the first Southeast Asia country to experience 5G-fixed wireless Internet through the launch of Globe at Home Air Fiber 5G. For eligible customers, plans come at P1,899 per month for up to 20 Mbps, P2,499 for up to 50 Mbps, and P2,899 for up to 100 Mbps. All these offerings come with up to 2 TB data capacity.

Lenovo launches new ThinkPad laptops By riZaL raoUL s. reyes

THE Thinkpad T490 from Lenovo

LENOVO Philippines recently said it wants to play a big role in enhancing the digital capabilities of small and medium enterprises, and students through the introduction of the newest generation ThinkPads.

“Technology has made it possible for the work force to conduct business anywhere, anytime. To help organizations achieve maximum efficiency and productivity in a workspace with no boundaries, we at Lenovo continue to develop ThinkPad devices that are both exceptionally powerful and portable to meet today’s complex business demands,” Lenovo Philippines Country General Manager Michael Ngan said in recent press briefing.

Ngan said the ThinkPad has developed a solid reputation for boosting productivity and carrying user-friendly designs, such as its renowned red TrackPoint, ergonomic keys, multimedia buttons, heightened security and various intelligent features, all of which are further bolstered by the device’s legendary durability, having undergone militarystandard tests.

Lenovo Philippines has introduced five new ThinkPads to cater to the Filipino business market.

Leading the lineup is the Lenovo T490, a powerful device given a boost in performance by the optional Discrete NVIDIA GeForce MX250 graphics. It also has a high memory capacity of up to 48 GB DDR4 RAM (2400 MHz).

For the mobile workers, Lenovo turns the spotlight

on the X390.

To give people on-the-go longer computing hours, the X390 has a battery life of up to 17.6 hours with a Rapid Charge feature. Moreover, it is a portable device measuring 16.5-mm thin, weighing only 1.22 kg/2.68 lbs, and has a hinge that tilts it to 180° max.

The L390, meanwhile, has a full-HD 13.3-inch touchscreen display that allows for more interactivity when dealing with complex datasets at work.

Completing the lineup are the E490 and E490s devices, which pack a punch despite being entrylevel ThinkPads. The E490’s Intel Optane Memory capability, optional two SODIMM, and optional dual-drive storage provides faster performance, while the E490s’ Discrete AMD Radeon 540X graphics with 2 GB VRAM and up to 32 GB DDR4 2400 MHz SODIMM memory makes work a breeze.

To boost its computing power, Ngan said Lenovo equipped the ThinkPads with Eighth Generation Intel Core processors with an astounding 40-percent leap in productivity performance over its predecessor. He added the new ThinkPads also enable users to connect easily with their favorite peripherals as they come with an array of ports, including USB 3.1 Gen1, USB Type-C, HDMI and Thunderbolt.

Ngan said Lenovo has introduced enterprise-level security within the new ThinkPads, with the T490 and X390 coming out with ThinkShield, a suite of security solutions that offer comprehensive end-toend security. The E490, E490s and L390, meanwhile, include a discrete dTPM 2.0 chip that encrypts data, in

addition to the ThinkShutter camera cover.

Ngan said the launch of the new models are in line with the company’s moves to strengthen its position as the global leader in PC development, and as a provider of innovative commercial and enterprise technology. He added the company is hoping that the new devices will sustain the company’s growth in the commercial PC market, wherein Lenovo claimed the top spot in worldwide commercial PC shipments during the fourth quarter of fiscal year 2018-2019, with 34 percent year-on-year growth.

“We drive innovation that exceeds expectations as we have strengthened our position as the No. 1 player in the PC market, maintaining this by persistently evolving our offerings. For the ThinkPad specifically, we will continue to explore new opportunities and technologies for employees in the intelligent workspace,” said Ngan.

Lenovo also launched new ThinkVision displays—the M14 and S24e-10 for the new computing requirements of the market.

The M14 is a mobile

monitor designed for those who want to bring backup device with them as it only weighs a mere 1.3 pounds.

It also has two USB Type-C ports to make connectivity to various devices effortless. The S24-10, on the other hand, is designed to project clear and crisp presentations at the office with its 23.8” near-edgeless panel full-HD 1920 x 1080 VA monitor.

D2

Wednesday, August 21, 2019

Pet Corner BusinessMirror

US lays out enforcement priorities for animals on planes A SERVICE dog strolls through the isle inside a United Airlines plane at Newark Liberty International Airport while taking part in a training exercise in Newark, New Jersey. AP

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DELLE DONNE TEAMS UP WITH PETA IN AD CAMPAIGN

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By David Koenig The Associated Press

HE government is telling airlines and passengers how it will enforce rules governing animals that people bring on planes.

The Transportation Department said Thursday that airline employees can bar any animal they consider a safety threat. Airlines, however, can be punished if they ban an entire dog or cat breed, such as pit bulls.

The department’s enforcement office said that it doesn’t plan to stop airlines from asking passengers “reasonable” questions about a service animal’s vaccinations, training and behavior. Airlines can require advance notice if passengers plan to bring an emotional support animal—several already do— but can’t impose the same requirement for service animals, such as guide dogs for the blind.

The number of animals on planes rose rapidly in recent years as more people began bringing a companion for emotional support. Most flying pets are tame, but there have been some well-publicized instances of animals biting passengers or airline employees and other reports of animals relieving themselves in the cabin.

An American Eagle flight attendant needed stitches after a passenger’s dog bit him on the hand during a flight last month. The man’s union, the Association of Flight Attendants, called the enforcement policy an important step to deal with a “mess of animals loose in the aircraft cabin.”

The Transportation Department plans to publish the guidelines next week, and airlines will have 30 days after that to conform their rules with the federal policy.

Delta Air Lines could face pressure to change two of its rules: A ban on pit bulls in the cabin, and a ban against emotional support animals on flights longer than eight hours. United Airlines also bans comfort animals on long flights. The department said airlines can make passengers demonstrate before a long flight that their animal can relieve itself in a sanitary way.

A Delta spokesman said the airline was still reviewing the Transportation Department’s guidance.

The Transportation Department endorsed many other rules that airlines have adopted, such as barring extremely young animals and exotic ones including

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Hayden Panettiere, 30; Usain Bolt, 31; Carrie-Anne Moss, 52; Kim Cattrall, 63.

HAPPY BIRTHDAY: Take your time and consider long-term results before you put a plan into motion.

Preparation will help you avoid an oversight that could be costly. The year ahead is meant to be used to clear up matters that hold you back emotionally. Encourage children, seniors or anyone who depends on you to be self-sufficient in order to ease personal stress. Your lucky numbers are 2, 14, 23, 28, 33, 45, 58.

a

ARIES (March 21-April 19): Before you step into unknown territory, consider doing a little research. Ask questions and find out if you have the knowledge, experience and qualifications to surpass whatever test comes your way. Partnerships will undergo a transition. HH

b

TAURUS (April 20-May 20): Get involved in discussions that will lead to change, and follow through with your plans. Not everyone will be happy with your decisions, but if you are doing what suits you, that’s what counts. HHHHH

c

GEMINI (May 21-June 20): Your flirtatious nature will not go over well with someone who wants time alone with you. Get your priorities in order and be honest regarding your intentions. Deal with domestic situations and children with compassion and understanding. HHH

d

CANCER (June 21-July 22): Recapture your past by reconnecting with someone you haven’t seen in a long time. Memories will encourage you to pick up hobbies or activities that you used to enjoy. HHH

e

LEO (July 23-Aug. 22): An unexpected change will disrupt your day. Accept the inevitable and proceed with caution.

Moderation when dealing with domestic matters or partnerships will help. Physical changes can be made as long as they are within budget. HHH

f snakes from the cabin.

Airlines are not required to report how many animals they carry, but some do. Delta said on Thursday that it carried 245,000 service and support animals last year, about the same as 2017, up from around 100,000 in 2015. United’s most recent figure, 76,000 for support animals only in 2017, was a 77-percent increase from the year before.

Airlines for America, a trade group of major US airlines other than Delta, and the flight attendants’

LAS VEGAS—Elena Delle Donne has always been a dog lover. Now, the WNBA All-Star captain has partnered with People for the Ethical Treatment of Animals (Peta) to raise awareness on adopting shelter dogs in an ad campaign.

“My wife had adopted Rasta when she was in college. And I was lucky enough to meet Rasta at age four, and now she’s my daughter, too.” Delle Donne said.

“They are the greatest part of our family.

Coming home and being able to see their excited faces and their wagging tails— it just kind of erases anything that didn’t go so great in the day.”

According to Peta, more than 6 million dogs and cats end up in US animal shelters and half of them have to be euthanized because they aren’t adopted. That’s why Delle Donne is encouraging people to adopt from local shelters as opposed to buying from breeders or pet stores.

“There are so many animals in need of homes,” Delle Donne said. “Just look at their sweet little faces and their kind

union blamed the large numbers on passengers who fraudulently claim they need an emotional support animal to fly. Airlines must waive pet fees for comfort animals if the owner has a doctor’s note vouching for their need to have the animal companion.

The priorities announced on Thursday could serve as a warm-up for new regulations that the department hopes to enact by next summer. On a call with reporters, a senior department official declined to say what might be in those rules. n

hearts, and you can just make their life by bringing them home and giving them a caring family to be around.”

Delle Donne was quick to point out that shelter dogs can easily adapt to life with non-shelter dogs as Rasta has done with her dog, Wrigley. Rasta and Wrigley were a big part of Delle Donne and her wife Amanda’s proposals to each other.

Wrigley, a Great Dane, carried a ring over to Delle Donne on his collar when Clifton proposed to her. When Delle Donne proposed a few weeks later in their Chicago apartment, she dressed Rasta, a Labrador, in a wedding dress. Delle Donne is part of a long list of athletes, including Sparks star Candace Parker, who have teamed up with Peta to promote kindness to animals. AP

VIRGO (Aug. 23-Sept. 22): You’ve got what it takes to bring about the changes you’ve been contemplating. Educational pursuits, meetings and networking will help you connect with people who inspire you to follow through with your ideas. HHHHH

g

LIBRA (Sept. 23-Oct. 22): You’ll face opposition at home or while dealing with older relatives or children. Don’t overreact when patience and positive input will encourage others to see things your way. The help or suggestions you offer should not put you in debt or personal jeopardy.

HH

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SCORPIO (Oct. 23-Nov. 21): Before you implement change, price out the cost involved and consider if your plan is realistic. Someone with experience will offer insight into how to move forward. A change regarding how you earn your living will help your personal situation. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): How you present yourself to others will make a difference when it comes to advancement.

Invest time and money in your appearance, as well as your skills. HHH

j

CAPRICORN (Dec. 22-Jan. 19): A personal change will do you good. If you aren’t happy with the way you look, or with someone who has become too much of an emotional burden, it’s up to you to do something about it. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t lose sight of your dreams. Speak up if you have questions. Look for alternatives before you jump to conclusions. Make personal improvements instead of trying to change someone else. HHH

l

PISCES (Feb. 19-March 20): Helping others will lead to benefits. Offer suggestions and assistance, and make it clear what you expect in return. An opportunity will arise if you reconnect with an old friend or colleague. Develop and sign contracts or settlements. HHHH

n EDITOR’S NOTE: In the Philippines, those interested in adopting cats and/or dogs can check out CARA Philippines (www.caraphil. org) and the Philippine Animal Welfare Society (paws.org.ph).

BIRTHDAY BABY: You are charitable, approachable and progressive.

You are adaptable and motivated.

‘rolling in the aisles’ BY JAKE SCHEELE The Universal Crossword/Edited by David Steinberg

ACROSS 1 Ice-skating comedy duo half 6 Up in Smoke comedy duo half 12 Curl tightly 14 Adjective for the “Iliad” or “Odyssey” 16 Walgreens competitor 17 Falsehood 18 Steely Dan’s best-selling album 19 Adjusts a time sheet 21 HBO rival, briefly 22 Klink and Sanders: Abbr.

24 Like some bandages 25 Asia’s Tien ___ Mountains (NASH anagram) 26 A Fish Called Wanda star Kevin 28 Fuel additive brand 29 Physicist Ohm 30 ___ Gay 32 City south of Berkeley 34 South African currency 36 Home, in Hamburg 37 More small-minded 40 Abominable Himalayans 43 Zellweger of Chicago

4 On the ___ (at large) 4 46 Buffy the Vampire Slayer girl 48 Burned, digitally 49 Finish cleaning a spill 51 Hose holder 52 Serena Williams’s org.

53 Event such as water turning to wine 55 Mineo or Maglie 56 Pet carrier opening 58 Ten-gallon, e.g.

60 Chocolaty spread 61 Immunity trigger 62 Laugh-In comedy duo half 63 Radio/early TV comedy duo half DOWN 1 It’s often refried in Guadalajara 2 ADHD medication 3 Suffix for “real” or “actual” 4 Bigwig 5 Filming light type 6 Shameless self-confidence 7 Favorite food of Winnie-the-Pooh 8 Revivalists, for short?

9 Always, to a bard

0 Catch feelings for 1 11 Devastate 12 Ice-skating comedy duo half 13 Norse works 15 Up in Smoke comedy duo half 20 Ford or Lincoln 23 Grunted like a pig 25 Ocean critter that often has five arms 27 Delight 29 Used Elmer’s 31 What’s far from fair?

33 “Every Kiss Begins With ___” (jewelry slogan) 35 1980s auto that opened up 37 Intel chip 38 Onetime Microsoft encyclopedia 39 ___ Nui (Easter Island) 41 Quitter’s declaration 42 Dirtbags 43 Laugh-In comedy duo half 45 A lot, to Alejandra 47 Radio/early TV comedy duo half 49 ___ Vanilli 50 Backup strategy

3 Shed like a snake 5 54 Caesar’s words to Brutus 57 That ship 59 Madam’s counterpart

Solution to yesterday’s puzzle:

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‘Easy Rider’ star, 1960s swashbuckler Peter Fonda dies at 79

By Lindsey Bahr & Andrew Dalton The Associated Press

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OS ANGELES—Actor Peter Fonda, the son of a Hollywood legend who became a movie star in his own right after both writing and starring in the counter-culture classic Easy Rider, died on Friday at his home of complications from lung cancer. He was 79.

“I am very sad,” Jane Fonda said in a statement. “He was my sweet-hearted baby brother. The talker of the family. I have had beautiful alone time with him these last days. He went out laughing.”

Born into Hollywood royalty as Henry Fonda’s only son, Peter Fonda carved his own path with his non-conformist tendencies and earned an Oscar nomination for cowriting the psychedelic road-trip movie Easy Rider. He would never win that golden statuette, but he would later be nominated for his leading performance as a Vietnam veteran and widowed beekeeper in Ulee’s Gold.

Fonda was born in New York in 1940 to parents whose personas were the very opposite of the rebellious images their kids would cultivate. Father Henry Fonda was already a Hollywood giant, known for playing straight-shooting cowboys and soldiers.

Mother Frances Ford Seymour was a Canadian-born US socialite.

He was only 10 years old when his mother died.

She had a nervous breakdown after learning of her husband’s affair and was confined to a hospital. In 1950, she killed herself. It would be about five years before Peter Fonda learned the truth behind her death.

Fonda accidentally shot himself and nearly died on his 11th birthday. It was a story he told often, including during an acid trip with members of The Beatles and The Byrds during which Fonda reportedly said, “I know what it’s like to be dead.”

John Lennon would use the line in The Beatles song “She Said She Said.”

“Peter is all deep sweetness, kind and sensitive to his core. He would never intentionally harm anything or anyone. In fact, he once argued with me that vegetables had souls [it was the 1960s],” his sister Jane Fonda said in her 2005 memoir. “He has a strange, complex mind that grasps and hangs on to details ranging from the minutiae of his childhood to cosmic matters, with a staggering amount in between. Dad couldn’t appreciate and nurture Peter’s sensitivity, couldn’t see him as he was. Instead he tried to shame Peter into his own image of stoic independence.”

Although Peter never achieved the status of his father or even his older sister, the impact of Easy Rider, which just celebrated its 50th anniversary, was enough to cement his place in popular culture.

Fonda collaborated with another struggling young actor, Dennis Hopper, on the script about two weedsmoking, drug-slinging bikers on a trip through the Southwest as they make their way to New Orleans for

Wednesday, August 21, 2019

BLIND SPOT BRUCE C.

TARDY CELEBRITY

SHE used to be known for being a professional who was never late or absent. Despite coming from a family with means, the controversial celebrity was very hardworking. Alas, this seems to have taken its toll on her because she is not as strong and energetic as she used to be, and it shows. The controversial celebrity is still very much in demand but she doesn’t work all the time now. Sadly, there are times when her present state causes her to be late or even absent from her commitments. It’s very unlike her but for the controversial celebrity, it’s a case of “the spirit is willing but the body is weak.” The controversial celebrity is not a brat when it comes to being prompt and punctual, but she just can’t help it.

UNDER HIS CONTROL

THE talented singer is known to be bisexual and she isn’t lacking in admirers, male or female. But she chose a guy to be her partner, one who is less popular than she is and, therefore, earns so much less. As she and the guy became closer, the more he and his family became interested in the singer and what she had. It got to a point that the singer became estranged from her family and is now reliant on her boyfriend. The boyfriend (and his family) are sort of controlling, and the singer is a sweet girl who likes to please the people she loves. Eventually, the boyfriend and his family won. Now, she is reliant on him for everything including her major decisions. The singer’s family, on the other hand, is hurting because she has cut them off from her life.

HIS TRUE LOVE

Mardi Gras.

On the way, Fonda and Hopper befriend a drunken young lawyer—Jack Nicholson in a breakout role— but raise the dander of Southern rednecks and are murdered before they can return home.

Fonda’s character Wyatt wore a stars-and-stripes helmet and rode a motorcycle called “Captain America,” repurposing traditional images for the counter-culture.

Actress Illeana Douglas tweeted her condolences Friday with the hashtag “RIPCaptainAmerica.”

“Easy Rider depicted the rise of hippie culture, condemned the establishment, and celebrated freedom,” Douglas wrote. “Peter Fonda embodied those values and instilled them in a generation.”

Fonda’s output may have been prolific, but he was not always well-regarded, which he was acutely aware

of. But he said that Ulee’s Gold, which came out in 1997, was the “most fun” he’d ever had making a movie. He wore the same wire-rimmed glasses his father wore in On Golden Pond, although he said beyond that he was not channeling Henry Fonda in the performance.

He lost out on the Oscar to Nicholson, who won for As Good as It Gets.

Nicholson said in his acceptance speech that it as an honor to be nominated alongside “my old bike pal Fonda.” Fonda is survived by his third wife, Margaret DeVogelaere, his daughter, actress Bridget Fonda and son, Justin, both from his first marriage to Susan Brewer.

“In one of the saddest moments of our lives, we are not able to find the appropriate words to express the pain in our hearts,” the family said in a statement. “As we grieve, we ask that you respect our privacy.” n

SO the beleaguered actor has had it with girls and he’s rather be with a woman. In this case, the woman is an actress old enough to be his mom. The actor and the actress have always had a thing going for them but they both know that it won’t work. Society is only accepting of May-December romances when the older person is the man. Older women with younger boyfriends are usually frowned upon. The thing is that the actor really likes the mature actress because she understands him and his aversion to monogamy.

She knows that he really isn’t the type to allow himself to be tied down, even if he seems that way early on in the relationship.

THEY’RE JUST JEALOUS

THIS actress-influencer may be strutting around town and interacting with rich and famous people but behind her back, they talk about her like she doesn’t deserve it. They mock her looks and the bags she carries, the jewelry she wears and all the plastic surgery she’s had. They don’t think highly of her because they know that all she has is thanks largely to her generous partner. Her partner spent for most of her surgery and, of course, all her jewelry and designer stuff. Of course, people are just being catty and bitchy. The actress is nice and sweet. She doesn’t harm anyone. She’s a professional.

Go Bollywood this weekend THE popular leisure destination in the metropolis, Shangri-La Plaza welcomes the entertaining, colorful, and much buzzed-about Indian cinema as “Mabuhay Bollywood” hits the Red Carpet theaters from August 23 to 25.

The first-ever Indian film festival, organized in partnership with the Embassy of India in Manila and the Film Development Council of the Philippines, is set to showcase the vivacity of its unique culture masterfully captured by experienced filmmakers into universal stories of courage, triumph and love. With its distinct way of making films, Indian cinema is a treasure trove that every cinephile should experience on the big screen.

Mabuhay Bollywood opens with the biopic Mary Kom headlined by international star Priyanka Chopra. If the Philippines has Pacman, India has Magnificent Mary—a title Kom earned after winning the 2008 World Boxing Championships. The Omung Kumar-directed film highlights Kom’s grit to defy the odds, shattering records to eventually become a boxing legend in her homeland and beyond.

Bhaag Milkha Bhaag (Run Milkha Run), starring popular actors Farhan Akhtar and Sonam Kapoor, revolves around the life of Milkha “The Flying Sikh” Singh, a world champion runner and Olympian, who overcame the killings of his family members including his parents, and the cruelty of the civil war during the India-Pakistan partition to become one of India’s sports icons.

Based on the true-to-life events of the hijacked Pan Am Flight 73 in 1986, Neerja is a gripping tale about a modern-day hero. This Ram Madhvani film focuses on how young flight attendant Neerja Bhanot

made the ultimate sacrifice to save the lives of the passengers on board.

It wouldn’t be a great introduction to Indian cinema without a taste of epic fantasy films. The festival’s roster includes Bahubali: The Beginning and Bahubali 2: The Conclusion—two films that follow the life of Sivudu, a foundling at a small village, who learned about the truth of his heritage after meeting

the beautiful warrior Avanthika on a quest to save her queen. The story continues with hero’s gutsy mission to reclaim his identity.

Thrillers with strong female leads also receive well-deserved screen time. Pink narrates the story of how three young women accused of a crime against a well-connected man try to clear their names.

Apart from the twists and turns of a court drama, the Aniruddha Roy Chowdhury-helmed movie puts women’s rights and dignity front and center of its story.

Sujoy Ghosh’s mystery Kahaani is about a pregnant woman who arrives in Kolkata from London to find her missing husband. When all clues seem to reach a dead end, she might have to come to terms with the fact that her husband doesn’t exist.

Rounding up the Mabuhay Bollywood lineup are feel-good films about characters running away and stumbling into their destiny. Bang Bang! by director Siddharth Anand is a film packed with action and comedy featuring stars Hrithik Roshan and Katrina Kaif. A remake of the hit Hollywood film Knight and Day, the film’s plot follows a bank receptionist living a ho-hum life until she meets a handsome thief who turns her life around.

Those who’d want to run away from a broken heart would find a gem in the dramedy Queen, a story that centers on 24-year-old Rani, who decides to go on with her honeymoon trip alone after her fiancé calls off their wedding. As she travels around Europe, Rani gains new experiences that’ll help her move on.

For the screening schedule of these Indian and other cinematic offerings of Shangri-La Plaza, visit www.facebook.com/shangrilaplazaofficialfanpage

THE PPO under the baton of Maestro Herminigildo Ranera performs in Bocaue, Bulacan. KIKO CABUENA

PPO IN BOCAUE FRESH from its recent outreach concerts in Antique, the Philippine Philharmonic Orchestra (PPO) performed at the St. Martin of Tours Poblacion in Bocaue, Bulacan, amid heavy rains on July 5. Maestros Yoshikazu Fukumura and Herminigildo Ranera led the orchestra in the evening event.

The PPO’s performance was undertaken through the efforts of Cultural Center of the Philippines President Arsenio J. Lizaso in partnership with the Office of Senator Joel Villanueva and the Local Government of Bocaue, Bulacan.

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Wednesday, August 21, 2019

Image BusinessMirror

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Put a stop to overthinking everything SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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Y direct supervisor wanted me to talk to them again. I would have happily obliged except these were people I have dealt with before who escalated me to my superior over a dispute that sprung from a miscommunication and was ultimately settled.

Nonetheless, I did not want to deal with them again— but I had to. It was part of my work and I had to set a meeting with them to discuss future plans for their program.

Before the meeting ensued, I found myself mentally a whirling dervish of what-ifs and what could have been. I recalled every misstep and wrong decision which led to the disagreement between our teams and I then noticed I was focusing more on my mistakes than the lessons I learned from the situation. I knew I was overthinking when I started imagining unrealistic scenarios. It was taking valuable time which I could have used to prepare before the meeting.

Overthinking does that. It keeps you from doing what is important in the present. You can get stuck either in rehashing the mistakes of the past and working yourself into a ball of guilt and shame, or in the glory days of the past wishing things would be the same. Either way, you lose time moving forward and developing yourself to be better equipped to face the current challenges in your work or personal life.

More so when you focus on missed opportunities and wrong decisions, things which we cannot do anything about anymore.

This causes you to dwell on your mistakes which can also take a toll on your mental and emotional well-being. These could spur destructive coping mechanisms which might later become addictive.

Reflection is necessary if you want to progress.

Understanding what caused previous mistakes can help you avoid repeating the same. But dwelling on your mistakes and letting them hinder you from trying again is not helpful. In order to loosen the grip of previous errors, put a time limit to how long you are going to think about them and then stop. Cull out what you have learned from the experience so you won’t make the same mistakes again. This is more helpful than reliving the mistake all over again.

Put everything into perspective—will this matter in a year? A decade? If it does not, then stop thinking the worst. When you think about it, we get worked up and start thinking of so many unrealistic things that could go wrong when in fact, what is the worst that could happen? It would be more helpful if we list down the worst things that could realistically happen and think of ways of addressing them than let our imaginations go wild. It is more productive to list ways of addressing future concerns than getting lost in the rabbit’s hole.

So, instead of just being concerned with what could go wrong, actively look for alternatives to avoid the same mistake, or try another way of solving the issue. Focus on what you can do rather than what you cannot. Knowing what you cannot do limits your options whereas when you think of what you can do, you actively engage your mind to go beyond limitations and creatively think of new ways of doing things. This is also one way of training your mind to focus on the task at hand and direct your mental efforts to looking for solutions rather than waste it on unrealistic pursuits and solutions borne out of embarrassment and guilt.

And when you are tired of looking for alternative solutions, take time to rest and do something else.

The longer you are steeped in a problem, the more your understanding of an issue becomes myopic.

Taking time away from thinking about it and doing something fun and interesting helps keep your mind from being overworked.

Taking a break will help refresh your mind and look at the problem differently. I have a team member who goes out of the office and walks around the block because it helps him clear his mind. He does this especially after a difficult meeting, or when he is stuck in something he cannot solve right away. He says the walk helps him relax and gives him a new perspective because when he comes back to his task, he can look at it from a new angle and work his way in following a different train of thought.

When you get stuck in overthinking, do not consciously avoid thinking about it. The more you tell yourself to not think about it, the more it will become

persistent in your mind. Try this little experiment— don’t think of a banana. The moment you read it, you instantly thought of one. That is how the brain works.

Instead of forcing yourself to not think about it, do something productive other than rehash mistakes.

This is where hobbies can play a beneficial role because you do get your mind off things and, at the same time, do something productive. Or you can just go out and do some other tasks which you have been putting off. This way, you can be productive and, at the same time, you avoid overthinking.

Be in the present. While some are stuck in their mistakes, others are stuck in the good old days.

Whenever you are, you need to practice being in the now. New technologies and processes require new ways of thinking, and what better way than to focus on what is in front of you. Your mistakes helped shaped who you are now but use the lessons you learned in the past for your present predicaments.

Use the glory days of the past to spur you to creatively innovate new ways of doing things—if you did it before, you surely can still do it again. But remember to use past mistakes and achievements to help you move ahead.

We all have tendencies to overthink and get caught in the imaginary world of what-ifs. While it helps to get a good grasp of where we came from, it is far better to use the lessons of the past to direct the steps of the future. So instead of getting stuck in the rocking chair of overthinking, stop and stand up. Because the only way you are going anywhere is when you move forward and deliberately take steps toward becoming the best version of yourself. n

NEUTRA K NOW AVAILABLE IN MERCURY DRUGSTORE NEUTRA K, the Philippines’s first over-thecounter and FDA-approved potassium food supplement, is now available in all Mercury Drugstores, the country’s leading and most trusted drugstore.

Formulated to boost overall wellness and help maintain healthy day-to-day productivity, Neutra K helps regulate fluid and mineral balance in and out of the body’s cells, and functions as an electrolyte.

Proudly Philippine-made, without artificial flavors and preservatives, Neutra K uses nonacidic potassium that is sourced from one of the world’s leading producers of natural ingredients, and comes in 300 mg film-coated tablets, and is available in boxes of 100 or boxes of 12.

Maxicare forges alliance with Alorica LEADING health-care provider Maxicare Healthcare Corp. (www.maxicare.com.ph) recently partnered with Alorica, the largest provider of customer experience solutions to the US market, to provide its employees with accessible, superior and quality health care.

Maxicare unveiled its newest health pod at the Alorica Makati office to provide employees fast and convenient access to health-care services.

The latest health pod is a fully automated system that manages patient-queuing, and makes

gathering of initial vital signs quick, accurate and hassle-free.

With the new health pod, business-process outsourcing employees have a convenient and time-saving way to get their letter of authorization.

Other services include taking one’s blood pressure, temperature, and BMI (body mass index). It is at 2310 Chino Roces Avenue, Makati City.

In photo are (from left) Maxicare Assistant Vice President for Corporate Sales Cecilia David,

Senior Assistant Vice President for corporate sales Fiona Lava, Lockton Benefits Group VO Head Rhea Ablan, Maxicare Vice President for Operations Roberto Herrera, director for compensation Blessilda Miguel, HR senior manager Raymond Alejandrino, benefits manager for employee experience benefits delivery Leslie Marie Petines, compensation manager Marvin Hernandez, client services manager Princess Gabuya, and Lockton Benefits Group AVP Head for Medical Support Services Dr. Mark Malanay.

Will you be a scam artist’s next target?

BELIEVING that fraud can’t happen to us—because we’re too smart, logical or informed—may make us more vulnerable. Successful scam artists skillfully overcome our defenses and get us into emotional states that override logical thinking, says Kathy Stokes, AARP’s director of fraud prevention programs.

“Scammers call it getting the victim under the ether,” she adds. Various studies have tried to identify characteristics that make people more susceptible to fraud. But that can create a “blame the victim” mentality and give the rest of us a false sense of security, she says.

“I’d say the majority of people are unwittingly deceived through no other reason than the criminals are good at what they do,” Stokes adds.

One way to protect that money is to cut down on our exposure to sales pitches, fraud experts say. AARP studies have found investment fraud victims were more likely than other investors to respond to sales pitches delivered by phone, e-mail or television.

They also were more likely to send away for free promotional materials, enter drawings, attend free lunch seminars and read all their mail, including advertisements.

To reduce your exposure to potential scams, consider the following steps: n If you give out personal information, be sure you know who you are giving it to, and why they need it. n Don’t make investment decisions based solely on a phone or e-mail pitch, or an ad.

SCAM ARTISTS GO WHERE THE MONEY IS RESEARCH is mixed on whether older people are more likely to be defrauded than younger ones. One thing is certain, though: Older people are more likely to have money. People 50 and older control 83 percent of the wealth in the US.

OVERCONFIDENCE INCREASES OUR RISK OVERCONFIDENCE can lead people to trade too aggressively (convinced that they can beat the market), put off saving for retirement (convinced they can catch up later) and ignore warning signs of fraud (convinced that they can’t be

victimized). The risk may increase with age. Studies have found that our financial decision-making abilities peak by our early 50s and decline, sometimes precipitously, after that. But our confidence in our abilities doesn’t drop—in fact, many of us become more self-assured.

“So as we age, this gap grows between actual and perceived ability to make good decisions,” says Chris Heye, cofounder of Whealthcare Planning, a site that helps older adults and financial advisors plan for age-related changes.

People of any age can combat overconfidence by getting a second opinion on financial decisions from a trusted advisor or money-smart friend.

As we get older, it can also make sense to consolidate our accounts so there are fewer to monitor, and switch to investments that require less hands-on management, such as target date mutual funds.

LONELINESS CAN BE EXPENSIVE THE Federal Trade Commission says romance scams cost people more money than any other type of consumer fraud

in 2018. Reports of these scams more than doubled between 2015 and 2018, while reported losses more than quadrupled to $143 million.

The scams often start via dating apps, social media or e-mail. The con artists pretend to have a lot in common with their victims, then build trust over many weeks or even months before asking their targets to reveal personal data or send money for an “emergency.”

Once again, the young and old alike can be defrauded.

One 90-year-old victim met a man via e-mail who, many months later, told her he needed help with a business deal.

She sent him eight infusions of cash, draining her $500,000 life savings.

“She sent all that money, and the only reason she knew that it was a scam was that he didn’t show up on Christmas Day like he said he would,” Stokes says.

Perhaps, the best inoculation against being defrauded is to talk to someone you trust about the situation before you send any money. That could be enough to bring you out from under the romantic ether. AP

BusinessMirror E1 | Wednesday, August 21, 2019 • Editor : Tet Andolong

AERIAL shot of One Vertis Plaza

ONE VERTIS PLAZA: THE BUSINESS CENTER IN THE NORTH

By Rizal Raoul S. Reyes

A

@brownindio

FTER building a solid reputation in the luxury home market, Ayala Land Premier (ALP) has entered the office development through the launching of the 43-story One Vertis Plaza.

Mike Jugo, managing director of ALP told reporters in a recent briefing the reason behind why they decided to enter the development of office space. “Our customers asked why ALP has not established its presence in the office development even if it had developed an excellent track record as a premier luxury development,” he said.

The entry of ALP into the premium-grade is perfect as ALP can provide the need to an unserved market of companies in need of larger, headquarters-type, corporate offices, in Quezon City and in areas north of Metro Manila.

Moreover, the emergence of One Vertis Plaza is a response to the need of private-sector offices that have grown in a non-holistic locations because of the absence of a central business district in Quezon City which resulted in scattered locations based in Cubao, South Triangle and over the last decade, along C5-Libis.

“A LP ’s management team agreed to realize this vision by launching its first office project. A growing demand for high-quality, headquarter-type corporate offices, coupled with Vertis North’s unrivaled accessibility to major thoroughfares, transportation

THE Plaza

hubs and commercial centers presented an ideal address for ALP’s pioneer office tower,” Jugo said.

“What the 45-hectare Vertis North presents is a large scale, master-planned city center enhanced by an unbeatable, highly connected location. With over 50 percent of its total area dedicated to offices and commercial establishments, Vertis North encourages enterprise and sets the ideal address for growing businesses,” Jugo pointed out.

Since its launch in 2012, ALP Head of Marketing and Sales Paolo Viray said Vertis North achieved tremendous growth in terms of development with an array of high-rise residences, a hotel, shopping mall and corporate offices. Moreover, the estate has added more than 40,000 square meters of gross leasable space through Ayala Malls Vertis North, complementing Trinoma’s 215,000 sq m of retail spaces.

Located above the mall is the Vertis North Corporate Center, offering over 123,000 sq m of leasable office inventory with its first three towers, with two more towers under way. Right now, the prominent tenants are Google, Telus and Teleperformance.

For deluxe hotel accommodators, Viray said Seda Vertis North

THE Concourse

is ready to welcome guests with 438 rooms, conference rooms and a ballroom that can accommodate events for 400 guests. He added the 24-story hotel is the largest among Seda’s roster and is currently the largest hotel in Quezon City.

Moreover, Viray pointed out that nine residential towers have been launched by ALI residential brands Alveo and Avida equivalent to almost 7,000 residential units.

To date, over 90 percent of the existing residential inventory has already been sold.

Vertis North Gardens, a sprawling 2-hectare park, is going to provide the green living component in the master-planned community.

Size-wise, the Vertis North Garden can be on a par with the Ayala Gardens in Makati.

Meanwhile, the Plaza, a 1,800sq m space that provides direct access directly to Vertis North Gardens, will be home to a selection of restaurants and cafés, and will provide a unique outdoor events venue for corporate and social events back

THE Gallery

dropped by expansive views of the 2-hectare Gardens. Complementing The Plaza is The Square, which functions as the tower’s main food hall providing indoor and al fresco dining options.

Aside from having a complete ecosystem, Viray said One Vertis North’s location provides great accessibility to its potential clients.

Aside from being located along major thoroughfares and transportation hubs, he said the project will actually enjoy heightened connectivity from the government’s “Build, Build, Build” project. He said the Metro Manila Subway which will have its first three stations in Mindanao Avenue, Tandang Sora, and North Avenue operational by 2022 will be a tremendous boost to the project. The North Triangle Depot located along North Avenue will be a part of the Unified Grand Central Station, a project that will link LRT line 1, MRT lines 3 and 7, and the

Metro Manila Subway.

“With the estate’s unparalleled connectivity being bordered by Edsa and North Avenue, coupled with its access to key transportation hubs, commercial centers and adjacency to Vertis North Gardens, the location presented an attractive address for One Vertis Plaza,” said Jugo.

Jugo added that One Vertis Plaza carries the traits of an ALP development, ascending over the estate’s skyline with its all-glass façade. Driving up its entrance on both Stella Street and Astra Drive, visitors will have a grand feeling of a warm welcome of arrival from the Concourse, an elegantly formal but welcoming motorcourt.

The lobby, called the Gallery, is a double volume expanse clad in natural stone and accentuated by natural wood elements that introduce warmth to the modern space. To transport visitors in an efficient manner, 19 elevators will

be installed throughout the tower, 16 of which are high-speed lifts outfitted with destination control systems. Two lifts will service the parking floors and a last one functions as the service lift.

In line with AyalaLand’s dedication to sustainable estates, Viray said One Vertis Plaza is working towards LEED certification. He said the building will have an all-glass façade clad in low-e (low-emissivity), double-glazed glass. Aside from being energy efficient, the glass also provides added insulation against infrared and UV rays.

Moreover, One Vertis North’s external floorings and the roof deck areas were designed with a high solar reflectance index, contributing to the building’s overall insulation.

LED lighting fixtures and low-flow plumbing reduce electric and water consumption, improving the overall efficiency of the building.

One Vertis Plaza also has its own rainwater management system and materials recovery facility.

One Vertis Plaza offers a maximum of only 10 office units per floor ranging from 101 sq m to 325 sq m in size. The efficient configuration and layouts of the units allow for the easy combination of units to create larger office spaces covering up to 1,648 sq m or an entire floor. All office spaces are enveloped by a glass curtain wall, offering abundant natural light and impressive views, with half of the units overlooking Vertis North Gardens. Potential clients for One Vertis Plaza are companies from various industries, including companies looking to set up their corporate headquarters in a prestigious address, having an extension of their office spaces in the Quezon City area, upgrading from their current office in terms of accessibility, space and building quality, and companies looking to space-bank for investment.

Currently, companies who have invested heavily in One Vertis Plaza by purchasing entire floors include noted corporations in the manufacturing, food, and pharmaceutical industries. Close to 70 percent of the available office spaces have been taken up with an average price of P352,193 per sq m.

One Vertis Plaza is set for completion in 2024.This will be the attraction of the North.

Business

E2 Wednesday, August 21, 2019

MEET THE GLOBAL REAL-ESTATE EXPERTS: SUSTAINABILITY SESSIONS WITH BILLY GRAYSON

Amor Maclang

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FIRST DIBS IN REAL ESTATE

HE Urban Land Institute (ULI) is an international, membership-based nonprofit research and education organization.

Founded in 1936, the institute now has almost 40,000 members worldwide representing the entire spectrum of land use and real-estate development disciplines, working in private enterprise and public service.

The mission of the ULI is to provide leadership in the responsible use of land, and in creating and sustaining thriving communities worldwide.

Across Asia Pacific and Japan, the institute has more than 2,000 members, with a particularly strong presence in Hong Kong, Greater China, Japan, Southeast Asia and Australia. The regional

office is headquartered in Hong Kong, and has active district councils in key gateway cities in the region, one of which is Manila.

Billy Grayson, the executive director for the center for sustainability and economic performance at the Urban Land Institute, will be flying in to Southeast Asia this August to deliver content on sustainability programming and

projects in relation to concurrent publications recently released by the Urban Land magazine. He will be visiting Singapore and Manila in his official capacity. ULI members will have the unique chance to interface with him directly in two functions spearheaded by ULI Philippines: first, an intimate executive roundtable featuring prominent C-level real-estate industry leaders, followed by a highly focused sustainability master class featuring local champions of sustainability.

As executive director for the center for sustainability, Grayson manages a team leading programs on climate risk and resilience, health and wellness, and building energy and environmental performance. ULI works with members, community leaders, coalition partners, and other key stakeholders to build awareness around sustainability issues in the built environment, and to provide our members with the tools and resources they need to cost-effectively drive sustainability into their projects and operations. He has over a decade of experience leading energy and sustainability initiatives in real estate, distribution and supply chain operations.

In the Philippines, sustainability has become more than a catchword for marketing purposes. A local green building rating system has been established, to help push increased green design and building practices to lead for a more sustainable future. In response to the looming reality of global climate change, developers have taken to heart the need to adapt sustainability initiatives.

“Occupants of green-certified, high performing buildings saw

26 percent higher cognitive function scores, reporting fewer health symptoms compared to those in similarly high-performing buildings that were not green-certified,” Grayson shared during the recently concluded ULI Asia Pacific Summit in Shanghai last June, citing a study from Harvard Public School of Health. By investing in the tenants of the building, a higher return for investment can be guaranteed in the long run.

ULI Philippines: The practice of sustainability in investment returns August 23, 2019 | Manila House | 11:30 a.m. to 1:30 p.m.

SUSTAINABILITY has emerged as a new trend in real-estate investment, with private investors, institutional investors, and sovereign wealth funds starting to prioritize “ESG” in their investment strategies, and creating new “green” investment vehicles to help drive capital to sustainability-focused projects.

In this full member-only discussion, Grayson will share evidence of leading sustainability practices resulting in stronger and more sustainable investment returns.

This session will also discuss what investors are expecting from real estate to qualify as “sustainable,” and how specific projects can attract more capital at better terms by making their real-estate projects more sustainable.

ULI Philippines: Sustainability Master class—What’s next for real estate?

August 23, 2019 | De La Salle University—Rufino Campus 3 p.m. to 6 p.m.

OVER the past few years, a new group of sustainability strategies

has emerged to tackle evolving sustainability challenges, and the sustainability goals of tenants, investors, regulators and communities. T his workshop will provide a primer on emerging sustainabilit y strateg ies, and how real-estate developers, architects, owners and operators can leverage these strategies to create value in their real-estate projects.

Grayson w i l l be joined by Christopher de la Cruz, chief executive officer of the Philippine Green Building Council.

De la Cruz is a Filipino architect, advocates sustainability in business and industry. He has actively campaigned for the establishment of PHILGBC and is one of the main proponents for the development of Berde (Building for Ecologically Responsive Design Excellence)—the Philippines’s national green building rating system. A representative from the Menarco Development Corp. will also be present. Collaboratively the following topics will be tackled in a three-hour deep dive session: n Health and wellness: With a growing body of evidence suggesting that healthier buildings lead to increased productivity, lower absenteeism, and reduced staff turnover, both tenants and landlords are increasingly looking to introduce health and wellness elements to their properties as a way to deliver higher profit, increased rents and lower vacancies. New certification standards and new technologies are helping to drive this trend worldwide.

Menarco Tower has set the standard in the country by being the first building in the Philip-

pines to register for WELL Certification. The WELL Building Standard, established in 2013 by the International Well Building Institute, measures and monitors the performance of building features that impact the users’ health and well- being. The building is WELL-certified and LEED-certified. n A pathway to net zero carbon: With the majority of countries and investors committed to reducing greenhouse gases by 80 percent by 2050, developers are developing strategies to make their buildings net zero carbon—through deep energy efficienc y improvements and integ rated renewable energ y.

This session will share some case studies of buildings that have already achieved net zero carbon, and how they have made these investments payoff with lower vacancies, higher rents and an increased asset value for their buildings.

PHILGBC is a national organization that promotes the sharing of knowledge on green building practices to the industr y to ensure a sustainable environment. The Berde program was established by PHILGBC to develop the Philippines’s own national voluntary green building rating system to facilitate green building projects in the countr y, inspire confidence in the industr y and build trust in the industr y.

This event is open to all realestate professionals who wish to learn more about local and global practices on sustainability strategies and how to further integrate them to their existing business operations.

COMMUNITY

Tourism programmed to change lives positively A

FEW years ago, the Philippines was considered a minor tourist stop in the world stage. Today, it has emerged as a major global destination and nothing illustrates this more vividly than the robust activity and improved living standards in Lio Tourism Estate and its environs in El Nido Town in Northern Palawan.

Joey Bernardino, marketing director of the AyalaLand subsidiary Ten Knots Development Corp., relates that the hotels in the area now numbering five—enjoy brisk business throughout the year. The four top-end island resorts that carry the El Nido Resorts brand, Seda Lio hotel, and the five boutique resorts in the mainland are favored by guests from the United States, Spain, France, Israel, among other countries. Ten Knots is the owner and developer of the 325-hectare estate and nine of the 10 hotel properties.

Better yet, the resorts all enjoy a high repeat guest rate owing to the genuinely warm service of the estimated 600 hotel and estate employees, 80 percent of whom are from Palawan. “We understand the importance of building a strong relationship with the local community and this begins with employing as many local residents as possible,” according to Bernardino.

With gainful employment in a booming industry, the standard of living of the employees and their families has improved. All employees receive government-mandated benefits and more—including seeking medical attention in the cities when needed. Children of deserving employees may avail them-

THE growth of AyalaLand’s business is highly interdependent with the growth of surrounding communities, according to ALI managers.

selves of college scholarships. In fact, a number have opted to work side by side with their parents at the resorts after graduation.

Javi Hernandez, president of Ten Knots, observes that secondgeneration employees and low turnover rates in the resorts indicate the strong, positive impact of tourism estate development as practiced by Ten Knots and its mother company, AyalaLand Inc. (ALI) “While Lio Tourism Estate and our properties were created to capture tourism opportunities, AyalaLand’s larger goal is to assist in nation building.”

He said that since ground was

broken on Lio estate commencing with the construction of roads, water and other systems, through the completion of the hotels now serving the estate today and those still in the blueprint stage, up to the time all these properties are operated, some 3,000 jobs will have been generated. This does not include the ancillary services and indirect jobs tourism has brought to this part of the El Nido municipality.

The local community has also benefited from AyalaLand’s efforts to include residents’ enterprises and services in the tourism estate’s supply chain. Hernandez estimates that P20 million worth of seafood

is sourced annually from Palawan suppliers by the hotels, as well as the restaurants at Shops at Lio, the estates’ commercial area.

All the rice consumed at the four El Nido Resorts are supplied by local farmers from Narra, Palawan.

Women from Sibaltan municipality, north of El Nido town, have supplied the resorts with close to 16,000 woven bags purchased from 2015 to 2019. In the past decades, owners of boats leased

by El Nido Resorts to ferry guests and deliver supplies have earned around P35 million.

Hernandez pointed out, “We realize that the growth of our

WITH gainful employment in a booming industry, the standard of living of employees and their families have improved. All employees receive government-mandated benefits and more—including seeking medical attention in the cities when needed.

business is highly interdependent with the growth of surrounding communit ies. In add it ion to financial profitability and environmental stewardship, we measure our per for mance in

AyalaLand tourism estates against how we have improved the lives of our neighbors.”

In tourism estates and mostly everywhere else, happy neighbors make good neighbors.

sMirror

Editor: Tet Andolong

E3

The 7th Annual PropertyGuru names Cebu Landmasters as 2019 Best Developer

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EADING local developer in VisMin Cebu Landmasters Inc. (CLI) bested established national industry players recently and was named Best Developer (Philippines) at the seventh Annual PropertyGuru Philippines Property Awards presented by global brand Kohler.

CHRISTOPHE VICIC (from left), country head of JLL Philippines, Cebu Landmasters executives, VP for Operations Jess Cabigting, VP for Finance and Accounting Connie Guieb, and VP for Engineering Jun Capistrano

The listed company is the firstever winner of the Best Developer (Philippines) title to hail from the Queen City of the South and will represent the country in the prestigious PropertyGuru Asia Pacific-wide grand finals in Bangkok, Thailand, in November to be participated by different property markets around the region.

“We are deeply honored to be awarded as the country’s top developer,” said CLI CEO Jose Soberano III. “This would not have been possible without the efforts of our team, and the support of our customers and industry partners.

This validates the strength of our growing position as the leading player in the Visayas and Mindanao region. We look forward to more milestones.”

CLI also bagged the top honors

38 Park Avenue

for its New York-inspired 38 Park Avenue development, which was also named as Best High-End Condominium Development (Cebu).

Casa Mira Towers Labangon was further cited as Highly Commended for Best Affordable Condominium Development (Cebu), and MesaTierra Garden Residences was Highly Commended for Best Condominium Development (Davao).

The awards’ independent panel of judges pointed out that “Cebu Landmasters’ projects capture the imagination magnificently.”

During the awards night, CLI’s Vice President for engineering Engr. Jun Capistrano—who received the award on behalf of the company—said: “We’re just a 15-year-old company and relatively new in the real-estate industry. We are overwhelmed to

have received these honors.” The company is the first-ever winner of the Best Developer (Philippines) title to hail from the Queen City of the South.

From its initial public offering in June 2017 that raised over P2.15 billion for the company, Cebu Landmasters expanded rapidly to key VisMin cities and has become the leading developer in the region, according to a 2017 market study of Santos Knight Frank. It has also forged strategic alliances with international and local partners in growing and diversifying its development portfolio.

In 2018, the company launched a wide range of projects, and expanded its residential condominiums and subdivisions to key cities in the Visayas-Mindanao area, as well as introduced more hotels and

mixed-use projects. Last year, CLI also unveiled its first township development—the Davao Global Township—which is envisioned to transform the Davao Golf Club into an iconic central business district in the emerging growth area of Davao City.

CLI also won “Special Recognition in Corporate Social Responsibility [CSR]” award. The company sets aside 1 percent of its net income after tax to its various CSR activities through the Cebu Landmasters Foundation. Its Dual Training System of Center for Industrial Technology and Enterprise (CITE) program, offers scholarships to mostly outof-school youth who can also be future employees for CLI’s various projects that require skilled workers and technicians. Each course will run for 15 months for every batch. The pioneer group started the program in June this year.

CLI employees also undertake an annual tree planting initiative in protected watershed areas and near the project locations, as well as Charity Runs, a fun run, in partnership with the Rotary Club of Cebu for the benefit of marginalized and special children.

At the recent Annual Stockholders’ Meeting held in Cebu, CLI reported a net income growth of 72 percent in 2018 to P1.67 billion, from P1.26 billion, in 2017. Both consolidated net income of P2.6 billion and net income attributable to parent of P2 billion increased by 20 percent, from P2.17 billion, and P1.67 billion of 2017, respectively, while revenues went up by 25 percent from P.7 billion year -on-year.

The company also saw a 25 percent hike in reservation sales from P9.8 billion in 2017 to P12.5 billion.

Soberano attributed this growth to the company’s commitment to project delivery.

OPMC holds its first sales summit HOTEL SUPPLIERS AND WELLNESS EXPO

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ONGTIME partner of real-estate leader Sta. Lucia Land Inc., Orchard Property Marketing Corp.

(OPMC) pushes for a stronger sales team with its first Sales Summit held at Club Balai Isabel in Talisay, Batangas.

With the theme “One with OPMC,” the Sales Summit was a three-day conference where several sales personnel and business partners from around the country gathered to take part in activities and seminars aimed to promote teamwork and synergy in achieving their overall goal.

Aside from workmanship, the primary objective of the summit is to evaluate the company’s performance for the first half of 2019 based on the corporate goals that have been set within the given time frame, and to assess the current projects and other target developments that should be accomplished later this year. Support and reinforcement programs are also being considered to create a smoother and easier process of generating income which will benefit every member of the management.

During the opening day of the event, each department discussed their own accomplishment reports.

The signing of a new sales commitment for the year was also held on the same day.

Present at the venue were OPMC President Eduardo Tirona, Senior Vice President Antonio Robles, VP for Finance and Administration Teresa Severo, National Sales Director for In House Network William Santos, National Sales Director for Broker Network Anthony Tirona, National Marketing Manager Anne Javier, Luzon Sales Supervisor Princess Reosa,

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A TOTAL of 182 attendees from South and North Luzon, Cebu, Negros Occidental, Iloilo and Davao took part in the summit

OPMC President Eduardo Tirona was among the officers who led the discussions during the first day Sales Service Manager Sheila Garcia, Admin Manager Marielle Santos, Operation Audit Manager Pinky Ren, Accounting Supervisor Lee Nen Rivero, HR Supervisor Shermaine Dacayana, Negros Branch Head Melissa Lim, Davao Branch Head Omar Bulambot,

Regional Sales and Marketing Officer Fem Lumberio, and Acting Cebu Branch Head Saison Dampios.

Olen Juarez-Lim of OJL Consulting conducted a seminar entitled Professional Presence on the second day during which participants were able to acquire insights on how to build and develop their own personal brand.

Juarez-Lim has the distinction of being the first Filipina to be certified as a Professional Image Development Consultant by the Singapore-based London Image Institute and Imageworks Asia.

The summit was officially closed the following day when participants were given the chance to enjoy their personal time with recreational activities at the venue. OPMC is one of the top real-estate marketing firm in the country with over 55 projects nationwide. The Sales Summit is indeed a corporate initiative that would provide great opportunities for the operation of its sales force.

HE Hotel Suppliers Show is back on its 10th year and this time, it’s bigger and better.

Serving as the gateway for global brands and manufacturers to connect people in the hospitality industry, the Hotel Suppliers Show has been attracting hoteliers and other relevant industry professionals since it started in 2010.

Last year, the Hotel Suppliers Show had 13,226 trade visitors and 270 participating brands. This year, the event is set to occupy a bigger floor area and showcase more trusted suppliers for the different sectors of the hospitality industry. From the front desk to the back of the house, the kitchens to housekeeping, to construction materials and furniture, the event brings together a comprehensive showcase that will range from design and décor, furniture, fixture, and equipment, as well as hospitality tech and suppliers show.

Food and beverage will also be a big part of this.

If you are a company interested in showcasing your products and solutions to thousands of decision-makers representing hotels, resorts, restaurants, as well as relevant travel and leisure establishments, this is a must-attend event for you. The event is co-organized by Chamber of Furniture Industries of the Philippines and Global-Link.

Some of the things you wouldn’t want to miss at this year's show will be the third run of the Hospitality Management Essentials Seminar which will equip attendees with

essential skills needed to run a successful business in the hospitality industry. There will also be a National Building and Property Management Summit which aims to gather 200 professionals composed of facility and building managers handling top properties in the country. The summit is already on its fourth year.

Colocated with the Hotel Suppliers Show is the fourth edition of Beauty and Wellness Manila, an all-in-one sourcing expo for health, beauty and wellness. Thousands of beauty and wellness enthusiasts and industry players are expected to gather here to see the latest products and services offered in the market, and to connect to top brands and suppliers

through their business-to-business matching activity.

This will be a partnership between Global-Link and the premier cosmetic association here in the country, the Chamber of Cosmetics Industry of the Philippines Inc. The Hotel, and Beauty and Wellness Expo will be held from September 19 to 21, 2019, Thursday to Friday, at the SMX Convention Center at the Mall of Asia Complex in Pasay City. For more information on the shows, follow their official Facebook and Instagram Pages: Hotel Suppliers Show Philippines, and Beauty and Wellness Manila, or visit the event web sites: www.hotelsuppliersshow.com and www.globallinkmp.com/beautyandwellnessmanila/.

Entrepreneur BusinessMirror

E4 Wednesday, August 21, 2019 • Editor: Vittorio V. Vitug

Philippine multilevel marketing industry faces daunting challenges

By Rizal Raoul S. Reyes

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@brownindio

AJOR direct selling company Amway Philippines, an affiliate of the Ada, Michigan, United States-based Amway, recently said it will implement strategies to support local Amway Business Owners (ABOs) toward their path to sustainable growth in 2019. number. Payment methods include Visa, Mastercard and cash.

On its website, Amway said more than 3 million people worldwide are running their own businesses through the ABO program. Amway Philippines offers three platforms of doing business in the Philippines through sole proprietorship, partnership (limited or general) and corporation.

Moreover, Olmedo said Amway Philippines is bullish on hitting double-digit growth rate this year. In 2018 Amway Philippines achieved an 18-percent growth rate. However, she declined to give a number for the company’s growth target in 2019.

“So far, we are on the same trend over the last two years. We just don’t look on the revenue targets.

There are other growth indicators we look at because it is so easy to hit the target by just focusing on specific target markets,” Olmedo explained.

FROM left: Robby Tan, Science Research Specialist at DOST-FNRI; Dr. Mark Mariñas, general surgeon and Amway business owner; Maria Elenita “Leni” Olmedo, country manager of Amway Philippines; Pauline Batan, assistant product category manager for wellness at Amway Philippines.

Olmedo also urged the government to pass either an anti-pyramiding law for the benefit of the consumers and the industry, as well.

“What we have right now is the consumer law of 1974. It has only two provisions where you are protected in the Consumer Act,” Olmedo said.

Olmedo, who was a former board member and director of the Direct Selling Association of the Philippines, said the business scandals that hit the multilevel marketing industry has posed a big challenge to its advocates. “For several years, we’ve been pushing for the passage of a direct selling law as simple as an anti-pyramiding law,” Olmedo pointed out.

She said the Direct Selling Association of the Philippines continues to work with the Department of Trade and Industry to develop policies and regulations to strengthen the direct selling industry.

Meanwhile, Amway Philippines also aims to push the awareness level of Filipinos about the importance of supplementation to support a healthy and active lifestyle through a balanced diet.

Financial constraints and busy lifestyles have caused nearly 54 percent of Filipino households to experience food insecurity, data from the Department of Science and Technology-Food and Nutrition Research Institute (DOST-FNRI) showed.

These households experience limited or uncertain availability of nutritionally adequate and safe foods, which hinders them from consuming the ideal serving of fruits and vegetables needed for a proper diet and lifestyle. These ultimately lead to poor nutrition and health problems.

“Food safety is a real concern because what we ingest is ultimately absorbed by our bodies, which is why we must take it seriously. Consumers should have the right to know the story behind their products because their health depends on the products they buy. It isn’t simply placing it on a label, it’s about letting them know for them to have peace of mind,” said Olmedo.

Reshape Life’s infrared sauna spa offers a new wellness experience

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AVING been a registered nurse by profession for more than 10 years, Butuan native Cookie Laguda realized that the wellness industry did not give emphasis on the mental aspect, even by many wellness centers in the country. She said overall wellness is beyond the physical, which really springs from a balance of the body, mind and spirit.

With a background in Integrative Nutrition and Neurolinguistics, Laguda said this prompted her to open a wellness center that takes the complicated out of the equation of being healthy and well.

In 2016, Laguda, owner of the unique wellness center in Butuan, pioneered a unique industry service when Reshape offered the first Near Infrared Sauna Spa in the country. Being a forward-looking entrepreneur, she said Reshape Life’s Near Infrared Sauna Therapy is uniquely positioned to be a spa of the future.

Interest in health and wellness increased in recent years following greater consumer awareness of product benefits and the expanding middle class. The wellness industry registered double-digit retail value growth in 2018 with the implementation of sugar tax on sugarsweetened beverages. However, retail volume sales declined.

In the country’s wellness industry, medical tourism has been identified as a sector that offers a lot of potentials. Nevertheless, the united and aggressive efforts by the medical tourism stakeholders have enabled the Philippines to create waves in the global wellness industry.

Furthermore, health and wellness advocate Cory Quirino said the health and wellness industry is a growing global business. She added that the trillion-dollar global industry continues to grow nearly twice as fast as the world economy.

Laguda’s initial Neurolinguistics training started with a three-day integrated NLP training from The Empowerment Partnership with Dr. Matt James in Houston, Texas. Then a further training online with Dr. Steve G. Jones from the American Union of NLP. “Being the first in the country, this simple, yet massively research-backed and powerful beneficial design of this modality makes it the easiest, no-fuss, no-bull health endeavor for anyone today. People live in a fast-paced world today and hitting multiple

Millennials’ portfolios should start to leave home

By Nir Kaissar Bloomberg News

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Contributor

“What we do is to ensure that the profitability of our ABOs and the growth that they have are sustainable. So, we will look at the core fundamentals of the ABOs and distributors’ businesses. That is how we measure the growth of our company these days,” Amway Philippines Country Manager Maria Elenita “Leni” Olmedo told the BusinessMirror in a recent interview in Makati City.

Olmedo said Amway Philippines has around 70,000 to 80,000 ABOs with the bulk concentrated in Metro Manila.

An ABO is an independent business owner who can earn an income through Amway’s compensation plan. To become an ABO, an individual must acquire a business investment kit worth P1,000, which includes an Amway Passport with P1,000 voucher.

Ordering the Amway products can be done through calling the direct lines, e-mail and mobile

www.businessmirror.com.ph

RESHAPE Life’s infrared sauna spa rooms.

health goals without much of the work to be done is something every busy person dream about,” Laguda said.

At present, the marketing strategy of Reshape is incorporated in its membership program at the center where it gives loyal clients a reward when they bring friends and family over to join their extraordinary health journey.

“Most of our clients come via word of mouth.

We occasionally get exposure from DTI-sponsored expos and trade show,” she said.

“Being an integrative wellness center, we also make available services that help promote mental-emotional, as well as spiritual wellness.

We design your experience with us to be on extraordinary health journey,” she added.

She noted that Reshape’s services and products are strategically designed to help a client reach health and wellness goals in an extraordinary way.

Laguda and her children came home to the Philippines for good in 2016, leaving behind a 10-year stretch of life in America and ending a 15-year long abusive relationship. She described the path of putting up Reshape Life as full of challenges, not exactly a bed of roses.

Laguda said her late father served as the

foundation of Reshape Life, as he was the one who encouraged and helped her to build and open the center in January 2017. She said her father believed so much in her potential to

succeed, and told her she was equipped to lead.

Tragedy struck the family in March 2018 when Laguda’s father met a fatal accident, leaving everyone in the family in shock. With her father gone, Laguda now had to take up the cudgels in running the business. “Reshape Life is now my dad’s legacy that I passionately hold dear, and after his passing I was determined to continue running this business in memory of his dedication to an extraordinary life,” Laguda said.

Asked about her long-term plans for Reshape Life, Laguda has always envisioned this wellness enterprise to become a household name for wellness. She plans to open branches in major cities in the Philippines. She intends to bring Reshape Life to more cities by tapping the corporate sector and by making Reshape Life’s NIR therapy available as part of their employees’ wellness program.

She is happy that the majority of her clients love their initial NIR experience. According to Laguda, it is common to hear them say that they wanted more time during their first few sessions as they feel it’s not enough (bitin) since they are required to have three initial sessions of only 15 minutes each.

“Most clients love their experience as they see and feel personal results along the way.

There are many benefits that we reap from it, so the results are individually experienced. It may be an improved sleep, pain relief, better energy, loss of excess fat and feeling de-stressed,” Laguda said.

Laguda added it is quite a challenge to market Reshape Life because it’s a new business enterprise offering a new kind of service. In Butuan City, for example, people wonder about this new health modality because some of the customers do not have the openness to embrace new things. The majority of the clients of Reshape come from the bigger cities.

“However, they would always ask me to bring the NIR Spa experience to their cities because many others would surely want to incorporate it in their wellness journey. With that said and God willing, I do have plans of opening up branches of Reshape Life in bigger cities in the near future. I envision making Reshape Life’s Infrared Sauna Spa the top wellness experience in the country.” Rizal Raoul S. Reyes

OR brighter retirement prospects, go abroad, millennials.

Millennials have few of the advantages their parents had. The big costs of living—education, housing and health care—were more affordable when baby boomers came up, allowing them to save more money for retirement. Markets were also poised to give their savings a boost. When boomers entered their peak earning years in the late 1970s and early 1980s, US bond yields were among the highest on record and stock valuations were among the lowest.

How things have changed. Millennials are drowning in student debt.

They struggle to afford homes, particularly in big cities, and rent eats a growing chunk of their income. They pay more for health care every year, if they can even afford it. And unlike their parents, investing in the US isn’t likely to help much. In a total reversal of the boomers’ good fortune, US bond yields are now among the lowest on record and stock valuations are among the highest.

But millennials have an edge that their parents did not: They can park their money outside the US. Until relatively recently, US investors had limited opportunities to invest overseas. Now they can shop the world for the best values.

And it’s a good time to poke around global stock markets. A commonly used gauge of future stock returns is the earnings yield, or the inverse of the ubiquitous price-toearnings ratio—and for good reason. Over the last 150 years, there’s been a positive correlation between earnings yields, based on a 10-year trailing average of earnings, and subsequent 10-year returns from US stocks (0.37). (A correlation of 1 implies that two variables move perfectly in the same direction, whereas a correlation of negative 1 implies that two variables move perfectly in the opposite direction.) In other words, higher earnings yields tend to augur higher returns over a reasonably long period, and vice versa. Not always, but much of the time.

By that measure, foreign stocks look more promising than those in the US. The S&P 500 Index offers an earnings yield of 3.7 percent. That’s nearly half the yield of 6.4 percent for the MSCI World ex-USA Index, a collection of stocks in developed markets outside the US, and a fraction of the 8.4 percent yield for the MSCI Emerging Markets Index.

Investors willing to look beyond broad market indexes can find even better values because there’s a wide variation in global yields, as the table below shows. For example, of the largest stock markets in the World ex-USA index by market value, Japan’s earnings yield of 4.2 percent is the lowest and Hong Kong’s yield of 8.2 percent is the highest. And among the largest markets in the developing world, India’s yield of 3.5 percent is even lower than that of the US, while Russia’s is a whopping 10.3 percent. Even so, it’s hard to find a foreign market offering as little value as the US. Of course, there are obvious reasons why so many foreign markets are on sale. The world is awash with worries. The UK is wrestling with Brexit, China is facing a prolonged standoff with the US, Germany appears to be slipping into recession and Russia is bruised by a slumping energy sector. Many fear the world is entering a period of deglobalization that will disproportionately affect smaller and trade-dependent countries. Against that backdrop, the US seems like a haven to many investors.

Little of that is new. I pointed out the divergence between the US and foreign markets in May 2016, and investors’ devotion to the US has only intensified since then. The S&P 500 has outpaced the EM index by 4.4 percentage points a year through August, and the World ex-USA index by 7.2 percentage points, including dividends.