BusinessMirror August 26, 2019

EXPORTERS TURN TO TOURISM SERVICES

By Elijah Felice E. Rosales @alyasjah

E LOCAL tourists enjoy the clean waters in Siargao, one of the country’s top tourist attractions. Exporters are now switching their focus to tourism-related service trade, in a bid to shore up earnings before year-end as merchandise export receipts weaken.

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XPORTERS are shifting their focus to services trade, particularly in tourism, for the remainder of the year to make up for the sluggish performance of merchandise shipments.

Philippine Exporters Confederation Inc. President Sergio R. Ortiz-Luis Jr. disclosed on Friday that traders are looking to take advantage of the growing demand for tourism-related services to compensate for the lower requirement for merchandise goods.

He said the sector grew around 35 percent between 2016 and 2017, twice the growth of the business-process outsourcing (BPO) industry during the period.

It is but wise for exporters to exploit tourism at a time they are catching up, as it is one of the five groups accounting for a hefty chunk of services exports, he added.

“We are also rooting for tourism. Though based only on its growth rate in 2016 to 2017, tourism-related services exports surged at 35 percent, twice that of BPO,” Ortiz-Luis said in a statement. While acknowledging that tourism-related services exports came “from a lower base,” he said the robust growth nonetheless “emphasiz[ed] its potential.”

Trade and tourism, along with computer and information technology, freight, construction and audiovisual, made up for 83.2 percent, or about $26 billion, of services exports in 2016.

Trade war

ORTIZ-LUIS said exporters are reeling from the slower merchandise trade volume brought about by the tariff war between the United States and China, among others. This, in spite of claims made by trade officials that the trade conflict between the world’s largest economies will not dent the country’s export activities.

Based on records from the Philippine Statistics Authority (PSA), merchandise exports as of June slid 0.8 percent to $34.11 billion, from $34.29 billion during the same period last year.

Electronic items, the country’s largest export good, grew flat at 0.7 percent during the stretch. Semiconductor firms are facing See “Exporters” A2

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Monday, August 26, 2019 Vol. 14 No. 320

DTI: Ecozone firms need 10-year transition T

By Jovee Marie N. dela Cruz

@joveemarie

HE Department of Trade and Industry (DTI) has urged lawmakers to extend the sunset period of the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) from the original proposal of five years to 10 years.

During the 2020 national budget briefing of the DTI at the House of Representatives, Trade Secretary Ramon Lopez said while the agency believes in time-bound incentives, the government should provide for a longer transition period to

economic zone firms before they surrender their incentives.

“We want a longer transition period. On the existing ones, we take notice of our ecozone locators. For those existing [locators], we want a longer transition period and we’re

discussing that with them [Department of Finance],” he said.

“We are now talking five to seven years transition but for me I want a 10-year period. The existing ones who benefited from the GIE [gross income earned], I want a 5

“We are now talking five to seven years transition but for me I want a 10-year period.

The existing ones who benefited from the GIE [gross income earned], I want a five years’ transition for them while the new ones, we want to give them 10 years.”—Lopez

years’ transition for them while the new ones, we want to give them 10 years’ transition period...we want to give them longer years,” Lopez added.

With that sunset period, Lopez said the government will address the concerns of the ecozone locators on the passage of the proposed See “DTI,” A2

F

By Bianca Cuaresma

I

@BcuaresmaBM

NTERNATIONAL credit watcher Moody’s Investors Services adjusted downward its growth forecast for the Philippines this year due largely to the delay in the passage of the budget.

In a recent report, Moody’s said the Philippines is now expected to grow by only 5.8 percent for 2019. This is lower than its earlier forecast of 6 percent and below the government’s target range of 6 percent to 7 percent for the year.

Moody’s said it slashed its growth outlook for the Philippines this year due to the delay in the approval of the 2019 national budget and the disruption this caused to the country’s infrastructure build-out.

Aside from the Philippines, the credit watcher also slashed its growth forecast for Australia, China, Hong Kong, India,

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Indonesia, Japan, Korea, Malaysia, Mongolia, New Zealand, Singapore, Sri Lanka, Taiwan, Thailand, and Vietnam.

Of the 16, Moody’s said Hong Kong and Singapore have shown particularly weak expansions this year, with very large deteriorations in real GDP growth when compared to the first half of 2018.

Moody’s said externally-oriented economies saw a sharper slowdown during the first six months of 2019, while domestic factors have had a greater influence on growth in Japan, India and the Philippines.

The credit watcher also said the weaker global economy has stunted Asian exports and the uncertain operating environment has weighed on investment.

“In particular, softer capital formation has mirrored the weakening in exports, especially for trade-reliant economies See “Moody’s,” A2

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HEROES’ DAY A student dressed for a school project as Gregorio del Pilar, the young general of the revolutionary Katipunan, is reflected in a pool of water that formed around the Aguinaldo Shrine in Kawit, Cavite, on the eve of National Heroes’ Day on August 26. This date marks the Cry of Pugad Lawin in 1896, the start of the Philippine revolution against Spain. NONIE REYES

BTr: Total debt service rises 172.5% in June

By Cai U. Ordinario

See “DOH,” A2

Thomas M. Orbos

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SSS makes final call for condonation program

The reduction by DBM of the HFEP fund, to only P5.86 billion for 2020, compared to the 2019 General Appropriations Act (GAA) outlay for the health facilities fund of P15.87 billion

Thomas “Tim” Orbos, a former DOTr undersecretary and general manager of the MMDA, writes about “Wicked solutions for a wicked problem that is traffic” in his maiden BusinessMirror column. He will share his insights on traffic, transport and urban mobility every Monday.

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MOODY’S SLASHES GROWTH FORECAST FOR PHL THIS YEAR

63% appropriation of P5.44 billion for HFEP, if approved by Congress, shall be used for the construction, upgrading, expansion, rehabilitation and/or repair of, and land acquisition for barangay health stations, health units, local government unit hospitals, regional medical centers, dangerous drug abuse treatment and rehabilitation centers and other health- care facilities. However, priority should be given to those located in or are near areas where there are large

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With 17% utilization rate, DOH facilities fund cut anew

OR the second year in a row, the Department of Budget and Management (DBM) has cut its proposed budget for the Health Facilities Enhancement Program (HFEP) of the Department of Health (DOH) due to a low budget utilization rate.

Under t he proposed P4.1trillion national budget submitted by the DBM to Congress, the budget department is proposing only P5.86 billion for HFEP, particularly for medical equipment.

This is 63 percent lower than its budget allocation under the 2019 General Appropriations Act (GAA) at P15.87 billion, which already includes funding for infrastructure and motor vehicle.

While the DBM is also proposing an unprogrammed appropriation of P5.44 billion for HFEP under the 2020 National Expenditure Program (NEP), the total figure for both programmed and unprogrammed appropriations for HFEP next year will still not exceed its 2019 budget allocation.

Nonetheless, this unprogrammed

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HE national government’s amortization payments to foreign/external sources caused the government’s total debt service to surge 172.51 percent in June, according to the Bureau of the Treasury (BTr).

Data showed the country’s total debt service rose to P83.811 billion in June 2019, from P30.756 billion in June 2018.

Of the total debt service in July, over

65 percent of the amount or P54.715 billion was accounted for by amortization payments to foreign financial institutions.

The rest, or P29.096 billion, was accounted for by the country’s interest payments, mainly interest payments for RetailTreasury Bonds (RTBs) worth P12.582 billion.

Other interest payments were made for Fixed Rate Treasury Bonds worth P6.624 billion; Treasury Bills, P2.456 billion; and Others, P1.788 billion.

The country’s total debt service in the

January-to-June period or the first semester of the year reached P307.717 billion.

The government’s total interest payments for the first semester reached P180.071 billion, an 8.8-percent growth from the P165.510 billion posted in the same period last year.

In terms of the government’s amortization payments in the first semester, data showed this reached P205.183 billion.

This was an 18.05-percent decline from the P250.388 billion posted in 2018, according to data released by the BTr.

HE Social Security System reported over the weekend that only 30 percent of delinquent members applied for its Contribution Penalty Condonation Program (CPCP) even as its September 6 deadline draws closer.

“Only a few weeks are left before the deadline, yet more than 70 percent of delinquent employers... have not yet availed of the CPCP,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

“Instead of waiting for the last day, we strongly urge all delinquent employers to immediately apply for the condonation program to settle the unpaid premiums of their employees and have incurred penalties waived. You have until September 6 to avail of the program and bring back your records to good standing,” Ignacio added.

The transitory clause of Republic Act 11199 or the Social Security Act of 2018 provides that a Contribution Penalty Condonation Program will be implemented for six months from its effectivity in March 2019.

As of July, the SSS has already collected P795.97 million in unpaid premiums from 31,774 employers benefiting 307,578 employees. The

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See “SSS,” A2

Source: BSP (23 August 2019 )

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A2 Monday, August 26, 2019

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ERC sets hearings on TransCo FiT rate

By Lenie Lectura

T

@llectura

HE Energy Regulatory Commission (ERC) is set to start hearings on the feed-in tariff allowance (FiT-All) of P0.2278 per kilowatt-hour (kWh) being sought by the National Transmission Corp.

(TransCo).

In its 27-page order, the ERC scheduled on October 23 a pretrial conference and evidentiary hearing, with pretrial briefing

SSS. . .

Continued from A1

pension fund has also condoned P1.67 billion worth of penalties.

“We always stress the importance of availing of the CPCP to avoid paying penalties that are sometimes higher than the actual unpaid premiums that they have to pay. When you settle your financial obligations with SSS, your employees can maximize their benefits and privileges as SSS members,” Ignacio said.

Under the new law, the penalty imposed on unpaid contributions was reduced to 2 percent.

Those who are qualified to access the program are employers

DTI. . .

Continued from A1

Citira, the new version of what the 17th Congress had dubbed the Trabaho bill, for Tax Reform for Attracting Better and High-quality Opportunities.

Locators will need to relinquish their incentives, including the 5-percent tax on GIE paid in lieu of all local and national taxes, if the Citira bill is applied to them.

Under the proposal, they are given up to five years to surrender their tax perks.

For firms registered with the Peza, the Citira bill capped the period for enjoying income tax holiday at three years; and additional incentives at five years.

Under the existing setup, economic zone firms are allowed to enjoy ITH for up to six years for pioneer activities and four years for nonpioneer activities. Upon the expiry of their ITH, they will perpetually pay 5-percent tax on GIE, be exempted from all local and national taxes, enjoy dutyfree importation of raw materials, capital gear and spare parts, among others.

Earlier, the House Committee

and expository presentation for Luzon, Visayas and Mindanao stakeholders scheduled earlier that month. with unpaid contributions; employers who have not yet registered with SSS, including household employers; 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.

Bianca Cuaresma

on Ways and Means Chairman Joey Salceda of Albay said the Citira is “nonnegotiable.” He also rejected the Peza-registered locators’ plea to exempt them from Citira’s coverage.

According to Salceda, the incentives provided under the Citira are the best compared to the Philippines’s neighbors. The proposed Citira is now pending for plenary deliberations.

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

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

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

Hog deaths. . .

Continued from A12

revealed that animal feeds could be a vector for transmission of swine diseases, such as ASF once they are infected with its virus.

DA guidelines

IN June, the Department of Agriculture (DA) issued guidelines to ensure that imported plantbased feed products do not carry the ASF virus which could cripple the P260-billion local hog industry.

Former Agriculture Secretary Emmanuel F. Piñol issued Memorandum Circular 8 dated June 3, outlining the quarantine measures for plant-based feed products from countries struck by ASF. “There are scientific findings that ASF can be transmitted through plant-based feed products,” Piñol said in the order.

“A series of consultations with the stakeholders and private sector were conducted to discuss the safeguard/biosecurity measures for plant-based feed products, categorized as medium risk, imported from ASF-infected countries,” the circular read.

Under the circular, importers will be required

“Finding the instant application to be sufficient in form and substance with the required fees having been paid, the Commission hereby sets the determination of compliance with the jurisdictional requirements, expository presentations, pretrial conference and presentation of evidence,” said the ERC. The FiT-All is a uniform charge collected annually from all electricity users. Distribution utilities (DUs), the National Grid Corporation of the Philippines (NGCP), and retail electricity suppliers (RES) serve as collecting agents, and the proceeds go to the FiT-All Fund, which is being administered by the TransCo. The FiT-All mechanism was established pursuant to the Renewable

DOJ. . .

Continued from A12

The Court held that the ruling would help decongest jails by substantially reducing their prison term.

The ruling, penned by Associate Justice Diosdado Peralta and unanimously approved by his peers, directed the Director General of the Bureau of Corrections (BuCor) and the Chief of the Bureau of Jail Management and Penology “to recompute with reasonable dispatch the time allowances due to petitioners and all those who are similarly situated and, thereafter, to cause their immediate release from imprisonment in case of full service of sentence, unless they are being confined thereat for any other lawful cause.”

“This decision is immediately executory,” the decision stated.

Guevarra assured the public the DOJ will come out with a deadline to complete the review upon consultation with the BuCor, Board of Pardons and Parole and other relevant agencies “to avoid any undue prejudice to the rights of persons deprived of liberty who have validly earned GCTAs.” “We expect the processing to pick up greater speed once the guidelines have been reviewed and firmed up,” Guevarra explained.

Battle of DOJ chiefs

MEANWHILE, Guevarra also denied the claim of Senate Minority Leader Franklin Drilon that the department has issued conflicting interpretations on the expanded GCTA for Sanchez’s benefit.

He pointed out that “although the BuCor/

DBP loans. . .

Continued from A12

been unavoidable in the ordinary course of business, as contemplated

by Presidential Commission on Good Government,” it added.

The SC also said the PCGG failed to prove that the sale of ALFA Integrated Textile’s fixed assets worth P462,323,000 to Cape Industries Inc., a company owned by Eduardo Cojuangco Jr. for only P100 million, was grossly disadvantageous to the government.

The Court pointed out that the Ombudsman was able to estab-

to include an ASF declaration form from an independent third-party surveyor stating the last date of ASF outbreak from the country in their shipping documents.

If the last outbreak date from the country of origin is more than two months, the product would be automatically cleared upon arrival, especially those sourced from non-Asian countries, according to the circular.

However, if the country of origin had an ASF outbreak in the past two months, then the shipments would be put on quarantine for about 20 days, starting from the day the feed products were brought to the carrier vessel.

After the prescribed quarantine period, the shipments will be cleared for use.

“When originating from non-Asian countries where duration of transport takes at least 20 days, the feed product may be utilized following clearance by quarantine officer from the port of entry upon arrival at the consignee’s warehouse,” the circular read.

“When originating from Asia, where the duration of transport is less than 20 days, a 10-day holding/quarantine period shall be applied at the consignee’s warehouse following its arrival which shall be certified the deputized feed by control officer,” it added.

₧0.2226 per kWh

The present FiT-All rate being collected from consumers.

This is the applied FiT-All rate for 2018. The ERC has yet to approve TransCo’s 2019 FiT-All application of P0.2471 per kWh Energy Act of 2008 which aims to spur the development of emerging renewable power sources such

DOJ made a general statement that thousands of PDLs, including detained former Calauan, Laguna Mayor Antonio Sanchez, may benefit from said law, the DOJ came out with only one definitive statement regarding the nonentitlement to GCTAs of heinous crime convicts under the 2013 law.”

“The DOJ will be glad to have this issue resolved with clarity and finality either by a congressional amendment of its own act, or by an interpretation rendered by the Supreme Court in a proper case brought before it,” Guevarra said, apparently reacting to Drilon, himself a former Justice chief.

The SC has clarified that it did not order the release of Sanchez or any other prisoner in its June ruling, but simply ruled on the legality of the implementing rules and regulations of RA 10592 which provided for the prospective application of the said law.

He pointed out that “in deciding the cases, the Court applied the fundamental doctrine in criminal law that penal laws when favorable and advantageous to the accused, should be applied retroactively.”

“Thus, the SC struck down the IRR and ruled that RA 10592 be applied retroactively, because it had the effect of lowering or reducing the sentences of qualified prisoners, hence, advantageous to them,” he added.

SC Public Information Office chief Brian Keith Hosaka said the implementation of RA 10592 is not within the jurisdiction of the SC but of the executive branch of the government.

“Again, the judiciary merely interpreted the law and ruled that it can be applied retroactively,” Hosaka said. Joel R. San Juan lish that DBP included a repayment schedule of ALFA Integrated Textile’s loans from the bank and other obligations in the contract to sell with Cape Industries.

“As petitioner was unable to substantially prove its allegations, this Court rules that public respondent Office of the Ombudsman did not gravely abuse its discretion in finding that there was no probable cause to charge private respondents with violation of Section 3(e) and (g) of the Anti-Graft and Corrupt Practices Act,” the High Tribunal ruled.

“This Court will not overturn its findings when they are supported by substantial evidence,” it added.

Moody’s. . .

Continued from A1

such as Korea and Hong Kong,” Moody’s said.

The slower overall GDP growth in the region, however, has not yet weighed significantly on broader employment conditions, while generally benign inflation supports purchasing power across Asia Pacific, according to the international credit watcher.

GDP growth in the first half proved to be lackluster as it averaged 5.6 percent, lower than the government’s target. The government and most local analysts blamed this on the government’s inability to pass a budget on time.

Although Economic managers such as Bangko Sentral ng Pilipinas Governor Benjamin Diokno earlier said the government target is still “achievable”, Philippine economy should expand by at least 6.5 percent on average in the second half of the year to hit the low end of the government’s target.

Based on Moody’s forecast, the international credit watcher expects Philippine GDP growth to average 6.1 percent in the second half of 2019.

as wind, solar, run-of-river hydro, and biomass facilities.

Basically, the amount is meant to cover payments to renewableenergy (RE) developers who are assured of a fixed rate per kWh for electricity generated by their projects over a period of 20 years.

TransCo wants to implement the Fit-All rates starting January 2020.

At present, FiT-A ll rate of P0.2226 per kWh is being collected from consumers. This is the applied FiT-All rate for 2018. The ERC has yet to approve TransCo’s 2019 FiT-All application amounting to P0.2471 per kWh. Under the FiT-All guidelines, TransCo has to make an annual determination of the FiT-All rate and

file an application for the approval of the following year’s FiT-All rate before the ERC not later than end of July each year. “ TransCo most respectfully moves for the immediate issuance of a provisional authority pursuant [PA] to Rule 14, Section 3 of the ERC rules to allow TransCo to timely implement the FiT-All rate of P0.2278 effective January 2020 without prejudice to the final and actual rate pending the final disposition of its present application,” said TransCo. The grant of PA will allow TransCo to perform its duties to make a timely payment of the FiT rate to RE developers to which they are entitled, thereby allowing their continued operations.

3rd holiday in August spells higher pay rate

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OR the third time in a row this month, qualified workers will be entitled to an additional holiday pay this week with the celebration of the National Heroes Day on Monday.

During the regular holiday, Labor Secretary Silvestre H. Bello III reminded employers that their employees who will report for duty should get twice their daily wage for that day.

In case of overtime, he said, they should get another 30 percent of their hourly rate on the said day.

Lastly, the labor chief said these workers must get another 30

DOH. . .

Continued from A1

numbers of poor families or where there are no health-care facilities that can provide affordable and quality health care.

The P5.44-billion HFEP fund may only be released subject to the certification from DOH secretary attesting that the projects are part of the Philippine Health Facility Development Plan (2017-2022), according to the special provision for HFEP specified under the 2020 NEP. Furthermore, it is also noted that it is subject to Special Provision No. 1, which states that the unprogrammed appropriations may be used when any of the following exists: a) excess revenue collections in any one of the identified nontax revenue sources from its corresponding collection target; b) new revenue collections or those arising from new tax or nontax resources which are not part of, nor in the original revenue sources; c) approved loans for foreign-assisted projects.

During the budget hearing last week with the Development Budget Coordination Committee (DBCC), former Health Secretary and now Iloilo first District Rep. Janette Garin expressed concern over the budget cut in HFEP as she questioned the move to shift to cashbased budgeting system.

“I can see that the HFEP funding, your honor, is only P5 billion so what will the enrolled members do once they arrive at the hospital with no medicines, no doctors, no equipment or no PhilHealth accreditation? It defeats the purpose of services transcending to our people,” Garin said.

“We know we have the President’s

Exporters. . .

Continued from A1

another problem aside from the tariff war: the looming passage of the tax reform bill that will strip away incentives for economic zone firms.

As such, industry players admitted they are stalling plans to expand and are holding on to their capital in

percent of their holiday daily wage if the celebration coincides with their rest day.

Bello, however, noted that employees who opt to spend the regular holiday on vacation must still get 100 percent of their daily wage.

National Heroes Day, which is held every August 26, aims to honor the contribution of the country’s national heroes.

On August 12 and 21, DOLE also issued special holiday pay rules for the commemoration of the Muslim celebration of Eid’l Adha and Ninoy Aquino Day, respectively.

Samuel P. Medenilla

directive [on cash-based budgeting system] but the President, having been a former mayor who was very keen on seeing to it that national service should be felt by people, will agree in saying that people’s future and the services to the people should not be sacrificed just because there is a non-performing secretary that handled the specific department,” she added.

Responding to Garin, DBM Acting Secretary Wendel B. Avisado attributed the budget cut to the low HFEP budget utilization rate of DOH. “You know, we always make sure our move has basis. In the case of DOH on their HFEP, the truth is they still have funds and we are looking at their utilization, their performance. For example in 2018, out of the total funds available, utilization was only 35 percent. In 2017, it’s 17 percent and 2019, 17 percent,” Avisado said.

HFEP is aimed at upgrading priority Barangay Health Stations and Regional Health Units to provide Basic Emergency Obstetric and NewBorn Care services and thus reduce maternal mortality; and to upgrade government hospitals and health facilities in provinces to make them more responsive to the health needs of the population, among other purposes.

In the 2019 NEP submitted by DBM under then Budget Secretary Benjamin Diokno, HFEP was only given a proposed budget allocation of P50 million, a far cry from the P30 billion allocated under the 2018 General Appropriations Act. The DBM cited the “dismal spending performance” of DOH in the implementation of HFEP as the main reason for the budget cut.

Bernadette D. Nicolas

anticipation of changes in the corporate tax and incentives regime.

Estimates provided by the industry revealed the Philippines lost over $1 billion in investments due to the government’s plan to rationalize tax perks. These investments, industry players said, could have set up new shops, which, in turn, would create jobs and improve production and export capacity.

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Housing dept to meet only fraction of target

By Jovee Marie N. Dela Cruz @joveemarie

T

HE new Department of Human Settlements and Urban Development (DHSUD) is targeting to build 12,161 housing units instead of its original target of 101,000 housing units next year.

During the first budget deliberation of the agency last Friday, DHSUD Secretary Eduardo D. del Rosario said the DHSUD requested for a budget of P48.8 billion for 2020, but it was only given 12.8 percent or P6.29 billion by the Department of Budget and Management (DBM).

“Definitely with that budget, we could not reach our target,” del Rosario said. “This is the sad state of the housing sector with the budget being given by the DBM.” Citing the Philippine Development Plan 2017 to 2022, del Rosario said the agency’s target should be 101,000 housing units per year.

However, he said there is a disconnect between the PDP Plan and the budget being given to the housing sector.

From 2020 to 2022, the housing agency said the total required number of housing units is 409,789 with an average of 136,596 units per year. The department said P184.9 billion is needed to create these shelters.

For her part, Rep. Stella Luz A. Quimbo of Marikina City said given the budget of the DHSUD, it

would seem that the biggest losers are the National Housing Authority (NHA) and the Social Housing Finance Corp. (SHFC).

According to Quimbo, the NHA asked for a P33.5 billion budget, but was given only P3.3 billion while the SHFC asked for a 10.12 billion budget, but was given only P1.3 billion.

“This is really a big one, I’ve never seen cuts as big as these,” Quimbo said.

She said the SHFC’s utilization rate is a negative because actually the agency is using its own funds.

For his part, NHA General Manager Marcelino P. Escalada Jr. said the reason given by the DBM for their lower budget is the absorptive capacity of the NHA. Rep. Francisco B. Benitez of Negros Occidental said it is disturbing to know that the housing agency’s budget proposal suffered a huge cut.

Benitez said that population and development must go hand in hand: “In fact families and household serve as the lynchpin between population and development.”

In his budget message, President Duterte said he instructed his economic managers to prioritize the operationalization of the DHSUD. “The department will strengthen policy making and regulation to ensure that its key housing agencies will have enough in their war chest to address shelter issues, and will maximize resources to make our communities safer and more secure,” he said.

Editor: Vittorio V. Vitug • Monday, August 26, 2019 A3

PCSO wants freedom from taxes, giving money to other agencies

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By Cai U. Ordinario

@caiordinario

HE Philippine Charity Sweepstakes Office (PCSO) is seeking exemption from paying taxes and the removal of its mandatory contributions to various agencies and government programs to increase its medical assistance for the poor.

In a recent budget briefing, PCSO Vice Chairman and General Manager Royina M. Garma said exempting the PCSO from taxes will also lower the cost of their products, such as lotto tickets and increase the winnings in their lottery games.

Garma also said PCSO’s mandatory contributions to various agencies and programs stretch the budget of the PCSO for charity activities.

“I think [from the] practical side, yes [remove mandatory contributions] so that we’ll be able to provide more to those who need medical assistance, especially with the implementation of the universal health care so that we can give more to those in need,” Garma said.

“I think, Sir, it would [also] be best if we will be exempted from taxation, your honor,” she told the House Com-

mittee on Appropriations members during the same briefing.

Garma said exempting the PCSO from taxes will automatically make their products at least P4 cheaper.

She said the 20 percent Documentary Stamp Tax (DST) charged for lottery tickets increase the cost to P24 instead of only P20.

This will also lead to more winnings for lotto players. Garma said sometimes the winners of small amounts still end up losing given the DST. She added that the taxes was also one of the reasons why the PCSOs revenues declined this year.

In the January-to-June period this year, PCSO’s revenues declined to P24.6 billion. This represented a 61.4 percent decline from the P63.6 billion posted in the same period last year.

Total taxes paid by PCSO to the

government in the January-toJune 2019 period reached P6.95 billion. This includes final income taxes withheld, creditable income taxes, value-added tax, documentary stamp tax, taxes withheld on compensation; fringe benefit tax; and corporate income tax.

The largest tax is for the DST, which reached P4.91 billion in the first semester of the year. In the January-to-December period last year, the PCSO paid a total of P12.718 billion in documentary stamp taxes.

In terms of mandatory contributions, Garma said, this will free up around 40 percent of their charity funds. These mandatory contributions pertain to PCSO obligations that are mandated by law.

“We have to stretch the charity fund to be able to comply with all the agencies [that] we are mandated to provide funds [for] because there is a law mandating us to provide the assistance,” she said.

Based on a recent presentation at the House of Representatives, the PCSO released P13.916 billion for 24 mandatory contributions covered by various laws and executive orders. This covered the years 1998 to June 30, 2019.

The largest mandatory contribution was mandated by Executive Order Numbers 357 and 357-A, which grants 30 percent of the PCSO’s lotto charity fund to local government

units where lotto tickets are sold. As of June 2019, the PCSO has contributed a total of P6.437 billion to LGUs. This was followed by provisions needed for Republic Act 7722 or the Higher Education Act of 1994. The PCSO extended a total of P3.426 billion to the Commission on Higher Education as of June 2019.

The third largest mandatory contribution was to meet Executive Order 447 for the “Greater Medicine Access” program worth P1.34 billion; low-priced medicine program of the Philippine International Trading Corp., P47.812 million; and the Avian Flu Fund, P20 million.

“If the mandatory requirement will be removed, since there will be budget allocations in these agencies, I think we could give more to those people in need,” Garma said.

She explained that 30 percent of PCSOs’ Net Charity Fund goes to charity programs and services. These are the Individual Medical Assistance Programs (Imap), which includes Malasakit Centers; the procurement of medical equipment; military and police health facilities; calamity assistance; and ambulance donations.

In the first semester of 2019, the PCSO extended to Imaps P2.817 billion; medical equipment, P27.827 million; military and police health facilities, P85.95 million; calamity assistance, P42.14 million; and ambulance donation, P726.47 million.

A4 Monday, August 26, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

PHL eyes labor deals with China, Canada

By Samuel P. Medenilla @sam_medenilla

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HE Department of Labor and Employment (DOLE) said it is targeting to secure better employment opportunities for overseas Filipino workers (OFWs) during a fresh round of bilateral talks with Canada and China this week.

Labor Secretary Silvestre H. Bello III said he will fly to Canada on Monday to prepare for the signing of an accord that primarily aims to ensure that the labor rights of Filipi-

no health-care workers, particularly nurses, are protected.

“This is currently not included in the terms and condition of their [Filipino health-care workers’] contract,” Bello told reporters in an ambush interview last Friday.

Philippine Overseas Employment Administration (POEA) Administrator Bernard P. Olalia said Manila is targeting to sign the bilateral labor agreement (BLA) with Yukon, Canada.

“A joint communiqué [will be signed] to show our intention to

do a BLA,” Olalia told the BusinessMirror via SMS. This will be the first BLA that the Philippines will forge with a Canadian territory.

The POEA’s web site showed the country currently has BLAs with the Canadian provinces of Alberta, British Colombia, Manitoba and Saskatchewan.

Unlike Canadian provinces, which are created and given sovereignty by the Canadian Constitution, Canadian territories rely on the Canadian federal govern-

ment for its operations.

More jobs

There were no new hires deployed to Canada in 2017.

ONCE signed, Bello said the new BL A may also eventually lead to the hiring of more Filipino medical workers.

Based on the POEA’s deployment data from 2015 to 2017, only a few Filipino health-care professionals are employed in Canada.

In 2015, only 10 newly hired Filipino health-care workers were deployed to Canada. The figure dropped to eight in 2016.

Expanded coverage

FOLLOWING his trip to Canada, Bello said he will proceed to China to negotiate for another BLA with his Chinese counterpart.

Aside from teachers, he said they will discuss how Beijing and Manila can expand the deployment of OFWs to China.

“We will talk about the possible deployment of additional overseas Filipino workers [to

China] like skilled workers and even household service workers,” Bello said.

The labor chief said, however, that the talks will not touch on the state of Chinese nationals, who are working in the Philippine Offshore Gaming Operators (Pogo).

“They did not make any request [for an update] on that,” Bello said.

However, he said the DOLE is ready to ensure the rights of Chinese workers employed in Pogo sector are protected.

Retail prices of construction items grew slightly in July

By Cai U. Ordinario @caiordinario

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HE retail prices of construction materials sold in Metro Manila inched up by 0.9 percent in July, the latest data from the Philippine Statistics Authority (PSA) showed.

Based on the Construction Materials Retail Price Index (CMRPI), the pace of increase in the National Capital Region (NCR) was slower than the hike of 1 percent recorded in June and the 2.5 percent recorded in July 2018.

The PSA said this was largely due to slower adjustments in the retail prices of electrical materials at 0.3 percent; plumbing materials, 0.5 percent; tinsmithry materials, 0.9 percent; and miscellaneous construction

materials, 1 percent.

“Carpentry materials index retained its previous month’s annual rate of 1 percent,” the PSA said.

Data from the PSA also showed that the retail prices of masonry materials, grew by 1.9 percent and that of painting materials and related compounds by 1.2 percent.

On a monthly basis, retail prices of construction materials in Metro Manila inched up by 0.05 percent in July. In June, retail prices for these commodities contracted 0.5 percent.

The indices of carpentry materials grew 0.02 percent; masonry materials and painting materials and related compounds, 0.3 percent; plumbing materials, 0.04 percent; and tinsmithry materials, 0.1 percent.

“Higher prices during the month were posted in lumber, plywood, common wire nails,

gravel, sand, hollow blocks and paints,” the PSA said.

“Prices of corrugated GI [galvanized iron] sheets also went up during the month.

Meanwhile, prices of electrical wires, cement and steel bars went down during the period,” it added.

The PSA said the increase in the indices of electrical materials and miscellaneous construction materials slowed to 0.1 percent and 0.2 percent, respectively.

The CMRPI is a variant of the General Retail Price Index that measures the changes in the average retail prices of construction materials.

The market basket for RPI of Selected Construction Materials is composed of 102 commodities and classified into seven major groups.

WORKERS install steel bars at a construction site along Aurora Boulevard in Quezon City in this BusinessMirror file photo. The Philippine Statistics Authority reported that the retail prices of construction materials grew slower in July.

DPWH to create pipeline of infra projects using ADB funds

By Lorenz S. Marasigan

T

@lorenzmarasigan

HE Duterte administration is planning to create a pipeline of projects that the next administration could simply rollout to hasten the development of much-needed infrastructure across the country.

The Philippines can concretize this plan by tapping the $100-million Infrastructure Preparation and Innovation Facility (IPIF) from the Asian Development Bank (ADB).

Public Works Secretary Mark A. Villar, who also oversees the “Build, Build, Build” (BBB) program of the Duterte administration, said in a recent interview that the facility will be used to create an infrastructure masterplan for the next administration.

“We have a facility from the ADB that will allow us to create feasibility studies that are worth tens of billions of pesos. This pipeline will be ready for implementation,” he said.

Villar said the “most difficult part” of infrastructure development in the Philippines is the creation of feasibility studies.

“With this, it will be much easier for the next administration,” Villar added.

The Cabinet official added that when completed, his group will present the infrastructure blueprint to Congress. “It is their option to institutionalize it.”

Currently, the government is in the midst of implementing the BBB Program, its massive infrastructure initiative aimed at solving the largest infrastructure issues in the Philippines.

With almost 100 big-ticket projects in the pipeline that are in varying stages, the government hopes to achieve the “Golden Age of Philippine Infrastructure” before President Duterte steps down from office in 2022.

In November, the ADB extended a $100-million loan to help the Philippine government finance its project preparation requirements for BBB program.

The ADB said the IPIF will finance the feasibility studies, procurement of consultants, detailed engineering and preparing bid documents, among others, of at least 19 projects.

The total cost of the facility is $164.06 million, with the government of the Philippines contributing $64.06 million.

The list of projects that the facility can finance is about $3.8 billion. However, the indicative list from the national government includes seven roads and bridges six water projects and six transportation projects.

“The $100-million infrastructure project innovation facility is ADB’s first technical-assistance loan to the Philippines. Previously, most of our assistance was smaller grants, we provide grant assistance of maybe $1 million to $1.5 million to help prepare any one project,” said ADB Philippines Country Director Richard Bolt.

DOLE halts rollout of online processing system in Hong Kong

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HE Department of Labor and Employment (DOLE) has temporarily stopped the implementation of the new online processing system at the Philippine Overseas Labor Office (Polo) in Hong Kong pending the results of a probe on its service provider.

In a statement issued on Sunday, Labor Secretary Silvestre H. Bello III said he ordered a fact-finding team to look into the allegation that the new online system service provider of Polo in Hong Kong was selected without the necessary public bidding and consultation.

Information and Publication Service Director Rolly M. Francia said the team is headed by Labor Undersecretary Claro A. Arellano.

“The new system will not be implemented until the investigation on the issue is completed,” Francia told the BusinessMirror in a phone interview.

Francia said Labor Attaché for Hong Kong Jalilo O. de la Torre will also be investigated since the said service contract, which was signed on March 7 was forged during his term.

“The fact-finding committee has to validate the veracity of the allegations against his answer,” he said.

He said de la Torre is already on his way back to the Philippines after completing his tour of duty in Hong Kong.

Bello issued the administrative order initiating the Hong Kong probe a day after Lilac Center for Public Interest called on DOLE to do so.

‘Questionable’

IN a statement last Friday, Lilac Center President Nicon Fameronag flagged the transaction since Polo Hong Kong’s new service provider, Polaris Tools Ltd., was incorporated in Hong Kong just last February. “ There is something very fishy in this transaction. How can a newly minted company clinch such a contract in such a short period?” the former labor undersecretary said.

Fameronag also claimed there was no transparency in the solicitation of the proposal and the awarding of the new contract to Polaris.

He also raised data privacy concerns over the service contract, which gave Polaris “sufficient access” to Polo data.

“In short, Polaris Tools Ltd. will become the Polo’s secret police with unlimited intrusive power,” Fameronag said.

Data from the Philippine Statistics Authority (PSA) showed that Hong Kong is one of the most popular destinations for overseas Filipino workers (OFWs).

In April to September 2018, the PSA said 6.3 percent of OFWs deployed were in Hong Kong. The top destination of OFWs is Saudi Arabia.

The PSA also noted that there were large numbers of Filipino workers in the United Arab Emirates, Kuwait, Taiwan and Qatar. Samuel P. Medenilla

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, August 26, 2019 A5

China continues to buy more PHL bananas

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE country’s banana exports in January to June rose by more than half due to China’s huge appetite for the tropical fruit, data from the Philippine Statistics Authority (PSA) showed.

Preliminary export figures released by the PSA showed that shipments in the first half reached record high of 2.165 million metric tons, 756,000 MT over than the 1.409 MMT recorded last year.

PSA historical data showed this was the highest volume exported by the Philippines and the first time that shipments exceeded 2 MMT in the first half alone.

At this rate, the Philippines is poised to surpass last year’s record high banana shipments of 3.126 MMT. PSA data also showed that the value of exports in the first half reached $983.740 million, 57.5 percent higher than the $624.704 million recorded last year.

Key markets

AMONG the key markets for Philip-

PHOTOGRAPHER: LUONG THAI LINH/BLOOMBERG

pines bananas, China led the pack, as its purchases during the period rose by

71.74 percent year-on-year.

China, which accounted for 36.88 percent

of total banana exports, bought 798,497.959 MT compared to the 464,932.726 MT it imported from the Philippines in first half of 2018, PSA data showed.

Total banana shipments to China during the period were valued at $345.157 million, 70.8 percent higher than the $202.027 million recorded last year.

After being overtaken by China, Japan has remained as the country’s second top market for bananas.

Exports to Japan, which accounted for 31 percent of total volume, rose by 58 percent to 673,287.088 MT, from 426,015.161 MT last year, PSA data showed. Total exports to Japan in the first half were worth $341.529 million.

Shipments to South Korea, the third biggest buyer of Philippine bananas, reached 300,458.876 MT which was valued at $140.816 million, PSA data showed. The volume and value were 62 percent and 49.1 percent higher than last year’s 185,467.062 MT and $94.422 million, respectively.

The Department of Agriculture and loca l banana industr y sta keholders are keen on maintaining the country’s

stature as the world ’s second-largest exporter of bananas.

The Philippines reclaimed its position as the second-largest exporter of bananas in the world, but Filipino growers urged the government to provide more support to maintain this, amid stiff competition from South American producers.

In its preliminary market review report in February, the United Nations’s Food and Agriculture Organization (FAO) estimated that Philippine banana exports last year expanded by 77.34 percent to an all-time high of 2.95 MMT, from 1.663 MMT recorded in 2017.

“Banana production in the Philippines had been affected by a series of adverse conditions between 2015 and 2017, in response to which significant investments were made in area expansion, new technologies and improved inputs,” FAO said in the report.

“Thanks to the strong performance in 2018, the Philippines regained its place as second-largest supplier of bananas behind Ecuador, at a volume share of 16 percent of global shipments,” it added.

Singapore-based Black River ‘DENR needs funds to expand bamboo plantations’ hikes stake in AgriNurture

By Jonathan L. Mayuga

By VG Cabuag

@Villygc

A

GRINURTURE Inc. (ANI), the listed firm led by businessman Antonio Tiu, on Thursday said Singapore-based Black River, a whollyowned subsidiary of Black River Capital Partners Fund (Food) LP, has increased its stake in the company.

In a disclosure to the Philippine Stock Exchange, ANI said that Vikings Asia Agri Ventures BV, formerly Solveigh Philippines Agri Investments BV, has sold 50 million shares through a block sale of P13.642 per share for a total price of P682.1 million. The said shares are equivalent to about 5 percent of ANI’s total outstanding common shares.

Black River Fund was the buyer of the said shares, Tiu said. He welcomed the investment and said “it’s a boost of confidence.” AgriNurture’s share price was last traded at P14.82 apiece.

In 2013, the asset management company was already an investor in ANI with an investment of as much as 30.92 percent.

Black River is a food-focused fund and was used to be owned by Cargill, the world’s

largest agriculture company. It first bought a 28.11-percent stake in ANI in 2011.

ANI, an agricultural exporter, earlier reported a nearly 50-percent jump in net income to P70.72 million in the first half of the year, from last year’s P48.98 million last year.

Consolidated sale of goods and services amounted to P2.4 billion during the period, almost three times higher than the P846.31 million registered last year.

Of the different businesses, the Philippine operations contributed 47 percent while sales from foreign operations accounted for 53 percent of consolidated sales.

Local distribution sales rose by 29 percent to P62.15 million for the first half, from last year’s P48.01 million, mainly due to improvement in operations. The group’s export sales amounted to P1.01 billion.

ANI said it will continue increasing its shipments of bananas, mango and beverage products.

It expects to increase its sales volumes in the last two quarters of the year with the approval of Republic Act 11203 which will allow ANI to import rice.

T

@jonlmayuga

HE Department of Environment and Natural Resources (DENR) will ask Congress to allocate funds for the establishment of bamboo plantations under the Expanded National Greening Program (E-NGP).

The E-NGP has no budget for forest expansion this year due to the P2-billion cut in the DENR’s 2019 budget.

Interviewed by the BusinessMirror, Director Sofio B. Quintana of the DENR’s Ecosystems Research and Development Bureau (ERDB) said in a mix of Filipino and English that forest expansion under the E-NGP was virtually stopped this year due to budgetary constraints while the ERDB’s budget for bamboo is allocated for research and development (R&D).

“We are still studying how much are we going to need but it will be for the expansion of the country’s bamboo plantations next year,” Quintana said.

He is optimistic that with Environment Secretary Roy A. Cimatu’s recent pronouncement recognizingtheimportanceofbambooasanalternative to wood, coupled with its huge potential as a carbon sink, the massive cultivation of bamboo as mandated by law will now be given attention.

“I believe that with the establishment of bamboo plantations and the sustainable use of bamboo, we can help save our

forest,” Quintana said.

He said he will work with the DENR’s Forest Management Bureau (FMB) in seeking budget support from Congress for the establishment of more bamboo plantations and hopefully, fill the supply gap that will encourage wood industry players to embrace bamboo in lieu of the more expensive but supply-scarce wood species.

The DENR is the lead-implementing agency of the E-NGP, while the FMB acts as its overall coordinator.

“When you plant trees, you let these grow from 10 to 30 years then after cutting, you need to replant again. In the case of bamboo, once you plant it, it will provide sustainable supply, you don’t have to replant and replant because it grows back,” he said.

Bamboo is a giant grass species. It grows fast and survives under extreme weather conditions. It has long been used as construction material while young bamboo shoots are traditionally harvested for food.

Quintana said the ERDB has had several R&D initiatives on bamboo, including the production of disease-free planting materials and “engineered kawayan” or “e-kawayan” that enhances its use and purpose beyond simple handicraft materials.

The Philippines has reaffirmed its commitment to promote the use of bamboo as an alter-

native to wood after regional experts adopted a resolution establishing the Association of Southeast Asian Nations (Asean) Bamboo Network.

“Before, we are unable to strictly implement the law requiring the cultivation of bamboo under the E-NGP. Now, we will work to ensure to do it this time,” said Quintana.

Executive Order 879 promotes the use of bamboo as an alternative to wood in the construction of school furniture. It also mandates the planting of bamboo.

Early this month, environment officials, scientists and researchers in Southeast Asia vowed to establish the Bamboo Network that will explore the vast potential of bamboo for environmental sustainability and economic resiliency.

It was the most prominent feature of a resolution adopted by participants to the first-ever Asean Bamboo Congress held in Iloilo City from August 12 to 16 organized by the DENR-ERDB which brought together various stakeholders in Asean, including representatives from the World Bamboo Organization, Brazil, Qatar and Peru.

Bamboo is widely recognized as a “versatile renewable resource” that protects the environment, improves the microclimate, controls soil erosion, protects riverbanks, reduces flash floods, serves as a windbreak, and sequesters atmospheric carbon efficiently.

Bohol farmers get rice transplanters, Lawmaker urges Duterte government to stop land conversion other agri equipment from LandBank

By Butch Fernandez

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HE Land Bank of the Philippines (LandBank) recently turned over farm equipment, such as combine harvesters and tractors, worth P54.86 million to farmers during a caravan in Pilar, Bohol.

LandBank said a total of 142 farmers, agrarian reform beneficiaries and members of the irrigators’ associations and cooperatives attended the farmers’ caravan. The beneficiaries received 41 4WDtractors,7Kubotaricecombineharvesters and 10 Kubota rice transplanters.

The bank said in a statement that the equipment were given to the beneficiaries under its Agricultural Competitiveness Enhancement Fund (Acef) lending program and the Agri-Mechanization Financing program.

The caravan was held in partnership with the Department of Agriculture, Department of Agrarian Reform, National Irrigation Administration, Agricultural Training Institute, National Food Author-

ityandthePhilippineCropInsuranceCorp.

During the event held at the NIA Farmers’ Hall in Pilar, LandBank officials led by Bohol Lending Center Head Cecilio B. Clarete presented to the farmers three lending programs of the bank, namely, the Acef, the Sikat Saka program, and the Accessible Funds for Delivery to ARBs program.

As of June 30, the combined loans extended to the agriculture sector and the bank’s other mandated sectors reached P219.63 billion, which is 27.45 percent of LandBank’s total loans to all sectors of P799.64 billion.

This makes the bank compliant with Republic Act 10000, or the Agri-Agra Credit law, which requires banks to allot 25 percent of their total loanable funds to agriculture and fisheries.

For LBP Bohol Lending Center alone, 63.61 percent, or P2.6 billion, of its total loan portfolio of P4.09 billion is classified underagri-relatedaccountsasofJune30.

@butchfBM

S

EN. Francis N. Pangilinan, warning over the weekend that nearly 100,000 hectares of agricultural lands are no longer producing food since 1988, asked the Duterte government to stop land conversion schemes to “save farming and farmlands.”

At the same time, Pangilinan prodded Congress to frontload the passage of the proposed Agricultural Land Conversion Ban Act embodied in his Senate Bill (SB) 256.

Pangilinan pointed out in the bill that since agrarian reform was implemented from 1988 to 2016, at least 97,592.5 hectares of what used to be farmlands he estimated to be the combined size of Metro Manila and Cebu City are no longer producing basic food supplies.

To ensure that Filipino farmers are able to produce adequate supply of food for the country, Pangilinan pressed the government to promptly stop “un-

bridled conversion of agricultural land into residential, commercial, industrial and other nonagricultural uses.”

Stressing that “we need farmers to feed the country [and] farmers need farmlands to feed the country,” Pangilinan pinpointed rapid urbanization and population growth as contributors to the problem of shrinking agricultural lands, adding: “Pinapanukala nating protektahan ang mga lupang sakahan na ginastusan na ng gobyerno sa patubig [Our proposal is to protect farmlands that were irrigated using government money.]”

He explained that the urgently needed remedial legislation aims “to protect farmlands for which government already spent to irrigate,” clarifying that the Senate bill “seeks to preserve irrigated and irrigable lands for the country’s food security.”

To drive home his point, the senator also cited data to show that Luzon suffers most from massive land conversion, making up 80.6 percent

of the entire country’s approved land conversions; Visayas, 7.8 percent; and Mindanao, 11.6 percent.

According to Pangilinan, “the additional requirement before the grant of a conversion permit is to ensure the suitability of the conversion of an agriculture lot. This is timely due to the unbridled land conversion, legal or otherwise,” said the senator, who owns a small vegetable farm in Cavite.

The Pangilinan bill, once passed into law, will amend Section 20 of the Local Government Code, requiring additional approval from the Departments of Agriculture (DA), Agrarian Reform (DAR), and Environment and Natural Resources (DENR), as well as local government units before land reclassification and conversion.

As proposed in the bill, conversion of agricultural lands requires the following certifications from the following agencies: the DA indicating: the total area of existing agricultural land; that such

lands are not included among those classified for conversion or reclassification under an existing law (AO 20, series of 1992); and, that the land has ceased to be economically feasible for agricultural purposes; the DAR indicating that such lands are not distributed or programmed for distribution to agrarian reform beneficiaries; and, the DENR indicating that the proposed reclassification is ecologically sound.

Pangilinan’s bill also cited studies indicating that agriculture takes a back seat among other land development projects, as it has the smallest return on investment.

“Ang ibig sabihin nito, kailangan nating punan ang pagsasaka para maging kaakit-akit na pagkakakitaan, dahil kailangan nating lahat ng pagkain para mabuhay [This means that we need to make farming an attractive enterprise, because we all need food to live],” the senator said.

Wags and weeds: Detection dogs assist conservationists fight invasive plants

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UXEDO, New York—In brushy terrain where a botanical interloper evades detection by the human eye, count on Dia to sniff it out.

Dia is a spunky Labrador retriever trained to track down a yellow-flowered shrub that’s taking root in New York state parks. She’s one of a new breed of detection dog assisting conservationists in the fight against invasive species.

With her handler, Joshua Beese, of

the nonprofit New York-New Jersey Trail Conference, Dia began last fall to hunt for Scotch broom in Bear Mountain and Harriman state parks about 50 miles (80 kilometers) north of New York City.

The shrub, which displaces native plants with thickets impenetrable to wildlife, is a widespread noxious weed in the Pacific Northwest but is fairly new to New York. Land managers hope to eradicate it before it becomes widespread.

“If we had to find all these plants ourselves, combing the grass for every tiny plant, it would take so much longer— and we’d still miss a lot,” Beese said on a recent morning after Dia showed him hundreds of Scotch broom shoots hidden in a field of tall grass and sweetfern.

Beese later uprooted them. The plants had been overlooked by volunteers with the conference’s Invasives Strike Force who had previously pulled

2,500 plants from the search area.

Detection dogs have long been used to sniff out drugs, explosives, cadavers and disaster survivors. In the mid ’90s, handlers started training them for conservation tasks such as sniffing out scat from endangered species and detecting trafficked ivory. Now, the olfactory prowess of detection dogs is becoming an important tool in the fight against invasive plants and insects.

“Our field in the last 15 years has just exploded,” said Pete Coppolillo, executive director of the nonprofit Working Dogs for Conservation in Bozeman, Montana. The organization partners with government agencies, researchers and nonprofits on five continents to provide trained dogs and handlers for conservation projects. One of its handlers mentored Beese on training Dia. Working Dogs for Conservation has

trained dogs to find spotted knapweed in Montana, Chinese bush clover in Iowa, yellow star thistle in Colorado, rosy wolf snails in Hawaii and brown tree snakes in Guam.

It’s doing a feasibility study in Minnesota on using detection dogs to identify trees invaded by emerald ash borers.

In five Western states, dogs have been employed to detect invasive zebra and quagga mussels on boats. AP

The World

A6 Monday, August 26, 2019 • Editor: Angel R. Calso

BusinessMirror

G-7 leaders huddle over P teetering world economy

www.businessmirror.com.ph

Trump poised to escalate trade war ‘within hours’

FRENCH President Emmanuel Macron, US President Donald J. Trump, Japan’s Prime Minister Shinzo Abe, Britain’s Prime Minister Boris Johnson, German Chancellor Angela Merkel, Canada’s Prime Minister Justin Trudeau, Italy’s Prime Minister Giuseppe Conte, and European Council President Donald Tusk attend a G-7 working session on “International Economy and Trade, and International Security Agenda” during the G-7 summit in Biarritz, southwestern France, on Saturday, August 25, 2019. AP

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IARRITZ, France—Leaders of major world economies are meeting to discuss the shaky world economy amid trade disputes and uncertainty over US President Donald J. Trump’s policies.

Trump tried to play down tensions among Group of Seven leaders after they had dinner Saturday in

the southwest French resort of Biarritz. He is worried that the global economic slowdown is spreading to

the US before next year’s elections.

The G-7 leaders are meeting on Sunday morning to focus on what they can do together to boost the economy. They include the heads of Britain, France, Germany, Japan, Canada and Italy. Disputes on trade have unsettled the global economy because businesses don’t know where tariffs will be imposed.

Anti-capitalist protesters also plan demonstrations on Sunday after clashing with police near Biarritz on the summit’s opening day Saturday. AP

HK police and protesters clash, ending violence lull

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ONG KONG—Hong Kong protesters threw bricks and gasoline bombs at police, who responded with tear gas, as chaotic scenes returned to the summerlong anti-government protests on Saturday for the first time in nearly two weeks.

Hundreds of black-clad protesters armed with bamboo poles and baseball bats fought with police officers wielding batons on a main road following a march against “smart lampposts” that was sparked by surveillance fears.

The chaotic scenes unfolded outside a police station and a nearby shopping mall as officers in riot gear faced off with protesters who set up makeshift street barricades.

The violence interrupted nearly two weeks of calm in Hong Kong, which has been gripped by a turbulent pro-democracy movement since June.

Police fired tear gas to disperse the crowd after repeated warnings “went futile,” the government said in a statement. By early evening, most of the protesters had dispersed, though clashes flared up in other neighborhoods.

Earlier in the day, some protesters used an electric saw to slice through the bottom of a smart lamppost, while others pulled ropes tied around it to send it toppling and cheered as it crashed to the ground.

The protest march started peacefully as supporters took to the streets to demand the removal of the lampposts over worries that they could contain high-tech cameras and facial recognition software used for surveillance by Chinese authorities.

The government in Hong Kong said smart lampposts only collect data on traffic, weather and air quality. The protesters chanted slogans calling for the government to answer the movement’s demands. The protests began in June with calls to drop a now-suspended extradition bill that would have allowed Hong Kong residents to be sent to China to stand trial, then widened to include free elections for the city’s top leader and an independent inquiry into

POLICE and demonstrators clash during a protest in Hong Kong on Saturday, August 24, 2019.

Chinese police said they released an employee at the British Consulate in Hong Kong as the city’s pro-democracy protesters took to the streets again, this time to call for the removal of “smart lampposts” that raised fears of stepped-up surveillance. AP

alleged police brutality.

“Hong Kong people’s private information is already being extradited to China. We have to be very concerned,” organizer Ventus Lau said ahead of the procession.

The semiautonomous Chinese territory has said it plans to install about 400 of the smart lampposts in four urban districts, starting with 50 this summer in the Kwun Tong and Kowloon Bay districts that were the scene of Saturday’s protest march.

Hong Kong’s government-owned subway system operator, MTR Corp., shut down stations and suspended train service near the protest route, after attacks by Chinese state media accusing it of helping protesters flee in previous protests.

MTR said Friday that it may close stations near protests under high risk or emergency situations. The company has until now kept stations open and trains running even when there have been chaotic skirmishes between protesters and police.

Lau said MTR was working with the government to “suppress freedom of expression.”

Also Saturday, Chinese police said they released an employee at the British Consulate in Hong Kong as scheduled after 15 days of administrative detention.

Simon Cheng Man-kit was detained for violating mainland Chinese law and “confessed to his illegal acts,” the public security bureau in Luohu, Shenzhen, said on its Weibo microblog account, without providing further details.

The Chinese government has said that Cheng, who went missing after traveling by train to mainland China for a business trip, was held for violating public order regulations in Shenzhen, in a case that further stoked tensions in Hong Kong, a former British colony.

The British government confirmed his release.

“We welcome the release of Simon Cheng and are delighted that he can be reunited with his family,” the Foreign and Commonwealth Office said in a statement, adding that Cheng and his family had requested privacy.

Cheng, a Scottish government trade and investment officer, was a local employee without a diplomatic passport.

The Global Times, a Communist Party-owned nationalistic tabloid, said Thursday that he was detained for “soliciting prostitutes.” China often uses public order charges against political targets and has sometimes used the accusation of soliciting prostitution. AP

RESIDENT Donald J. Trump signaled he may escalate the trade war with China in the coming hours after the country’s latest round of tariffs, firing off a new demand that US companies seek alternatives to producing goods in China.

“I will be responding to China’s tariffs this afternoon. This is a great opportunity for the United States,” Trump tweeted on Friday, after China threatened to impose additional tariffs on $75 billion in American goods, including soybeans, cars and oil.

A meeting on trade took place around midday in the Oval Office, according to people familiar with the discussions.

Trump added in a flurry of tweets that he “hereby ordered” American companies to start looking for alternatives to making products in China.

It wasn’t immediately clear what legal authority the president would have to force such corporate decisions.

The president laced into China, saying “We don’t need China” and that the US would be “better off without them.” He also took aim at the Federal Reserve over what he’s called its failure to lower interest rates to boost the economy and keep the dollar from becoming too strong, which weighs on exports.

US stocks fell after Trump’s remarks, with the S&P 500 Index dropping 2.6 percent on the day.

Technology stocks were hardest-hit.

Treasuries rallied.

The angry set of tweets from Trump came after China announced its retaliation for new US tariffs due to take effect September 1 and Federal Reserve Chairman Jerome Powell repeated his concern that US trade policy was contributing to a slowdown in both US and global economies. They also reflected Trump’s growing frustration with the lack of progress in his trade battles with China, according to analysts close to the White House.

“The president has been increasingly frustrated in the last three months” with China after the May breakdown of talks that he believed were about to yield a deal, said Michael Pillsbury, a China expert with the Hudson Institute in Washington with whom Trump has consulted in the past.

Trump’s most likely response, Pillsbury said, would be to raise tariffs from 10 percent to 25 percent on remaining imports from China that are due to start taking effect September 1. But he had other ways to increase pressure, Pillsbury added, including giving the final green light to sales of F-16s to Taiwan that have been signed off on by the State Department. The administration has notified Congress it intends to go ahead with the sale.

Derek Scissors, a China expert at the American Enterprise Institute who has also advised the administration, agreed that an increase in tariffs was the most likely course of

action, though it could be staged to give China more time to respond.

Trump’s order to US companies to abandon China would mean very little in the short term, Scissors said. But the president does have other ways he could increase pressure on US companies to stop doing business with China, particularly if he chose to invoke a national security emergency and ban tech companies from selling certain products to Chinese buyers.

“It’s worth the market being a little nervous that US tech companies are involved with China and that they are providing China with dual-use technologies,” Scissors said. “That’s what the hawks are angry about. So the president can take action against those companies not by ‘I hereby order,’ but by starting a process where the direct pressure on them goes up.”

China’s newest tariffs came earlier Friday in retaliation for Trump’s latest planned levies on Chinese imports, which have pushed US stocks and commodities lower. The move takes aim at the heart of Trump’s political support—factories and farms across the Midwest and South at a time when the US economy is showing signs of slowing.

Trump reiterated his criticism of the Fed after Powell’s remarks were released earlier Friday morning: “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Trump said in one of his tweets, referring to Chinese President Xi Jinping.

The news from Beijing rekindled concerns about the world’s two largest economies and a global growth outlook that’s already looking shaky.

Some of the Chinese countermeasures will take effect starting September 1, while the rest will come into effect from December 15, according to the announcement from China’s Finance Ministry. This mirrors the timetable the US has laid out for 10-percent tariffs on almost $300 billion of Chinese shipments.

China will put an extra 5-percent tariff on American soybeans and crude-oil imports starting next month. The resumption of a suspended extra 25 percent duty on US cars will resume December 15, with an additional 10 percent on top for some vehicles. With existing general duties on autos taken into account, the total tariff charged on US-made cars would be as high as 50 percent.

The US Chamber of Commerce called China’s move “unfortunate but not unexpected.”

“The fact of the matter is that nobody wins a trade war, and the continued tit-for-tat escalation between the US and China is putting significant strain on the US economy, raising costs, undermining investment, and roiling markets,” Myron Brilliant, the chamber’s head of international affairs, said in a statement.

After Trump gave the go-ahead earlier this month for tariffs on the almost $300 billion in Chinese

imports that haven’t been hit by higher duties, China halted purchases of agricultural goods and allowed the yuan to weaken.

Possible actions

OTHER than possibly raising the tariffs set to kick in September 1, it isn’t clear what action Trump might take.

Inside the White House, hawks have been pushing for a direct intervention in currency markets by the Treasury by pointing to a slowdown in US manufacturing, which many economists have blamed on tariffs imposed

by Trump and uncertainty surrounding his trade war with China.

Just how effective a Fed cut or an intervention would be is unclear.

The relevant Treasury fund has $92 billion in it. Even if the Fed were to join in, as it has in past interventions, and match that amount, a $180 billion injection into a $5 trillion per day global foreign-exchange market might have a limited effect. It might also unnerve markets and have longer-term economic consequences.

Beyond that, the administration could raise further barriers to Chinese investment in the US or target China’s energy supply by revoking waivers that allow Beijing to continue purchasing oil from Iran and Venezuela. Trump could also take steps to further isolate Huawei Technologies Co., which the US deems a security threat, in its bid to supply 5G technology in the US. Or, Trump could take a harder line against Beijing over human rights and the autonomy of Hong Kong, where protests have raged for weeks.

Fentanyl order

US and Chinese negotiators have spoken by phone and are planning another call in coming days. People familiar with their intentions previously said that the Chinese delegation is sticking to their plan to travel to the US in September for face-to-face meetings, which may offer a chance for further reprieve.

Trump also ordered mail carriers to search for deliveries of the drug fentanyl coming from China.

“Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to search for and refuse” deliveries of the illegal drug.

It isn’t clear what the carriers’ responsibilities are in halting those shipments, which have helped fuel an opioid epidemic in the US. Stopping shipments of illegal fentanyl that enter the US is a job that typically falls to government agencies such as the Drug Enforcement Administration, Food and Drug Administration, and Customs and Border Protection.

Illegal Chinese fentanyl is increasingly entering the US through the Mexico border via drug traffickers instead of being sent directly. It’s unclear if Trump also wants to stop legal fentanyl, often used by cancer patients to treat pain, from entering the US as well, which would cause an outcry from patients. Bloomberg News

Paris celebrates its liberation from Nazis

P

ARIS—Paris is celebrating the French resistance fighters, American soldiers and others who liberated the City of Light from Nazi occupation exactly 75 years ago.

A parade on Sunday will retrace the entry of French and American tanks into southern Paris on August 25, 1944.

Firefighters will raise a French flag on the Eiffel Tower, recreating the moment when a French tricolor stitched together from sheets was hoisted atop the monument 75 years ago to replace the swastika flag that had flown for four years.

Paris suffered relatively little damage in World War II but its citizens were humiliated, hungry and mistrustful after 50 months under the Nazis.

The liberation of Paris was both joyous and chaotic, with nearly 5,000 people killed. AP

IN this August 29, 1944, file photo, US soldiers of Pennsylvania’s 28th Infantry Division march along the Champs Elysees, the Arc de Triomphe in the background, four days after the liberation of Paris, France. The fighting for the liberation of Paris took place from August 19 to August 25, 1944. AP

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Earth’s future is being written in fast-melting Greenland

Greenland lost 255B MT of ice a year

H

ELHEIM GLACIER, Greenland—This is where Earth’s refrigerator door is left open, where glaciers dwindle and seas begin to rise.

New York University air and ocean scientist David Holland, who is tracking what’s happening in Greenland from both above and below, calls it “the end of the planet.” He is referring to geography more than the future. Yet, in many ways, this place is where the planet’s warmer and watery future is being written.

It is so warm here, just inside the Arctic Circle, that on an August day, coats are left on the ground, and Holland and colleagues work on the watery melting ice without gloves.

In one of the closest towns, Kulusuk, the morning temperature reached a shirtsleeve 52 degrees Fahrenheit (10.7 degrees Celsius).

The ice that Holland is standing on is thousands of years old.

It will be gone within a year or two, adding yet more water to rising seas worldwide.

Summer this year is hitting Greenland hard w ith recordshatter ing heat and extreme melt. By the end of the summer, about 440 billion tons (400 billion metric tons) of ice—maybe more—will have melted or calved off Greenland’s giant ice sheet, scientists estimate.

That’s enough water to flood Pennsylvania or the country of Greece about a foot (35 centimeters) deep.

In just the five days, from July 31 to August 3, more than 58 billion tons (53 billion metric tons) melted from the surface. That’s over 40 billion tons more than the average for this time of year. And that 58 billion tons doesn’t even count the huge calving events or the warm water eating away at the glaciers from below, which may be a huge factor.

Hardest hit

And one of the places hit hardest this hot Greenland summer is here on the southeastern edge of the giant frozen island: Helheim, one of Greenland’s fastest-retreating

glaciers, has shrunk about 6 miles (10 kilometers) since scientists came here in 2005.

Several scientists, such as National Aeronautics and Space Administration (NASA) oceanographer Josh Willis, who is also in Greenland, studying melting ice from above, said what’s happening is a combination of man-made climate change and natural but weird weather patterns.

Glaciers here do shrink in the summer and grow in the winter, but nothing like this year.

Summit Station—a research camp nearly 2 miles high (3,200 meters) and far north—warmed to above freezing twice this year for a record total of 16.5 hours.

Before this year, that station was above zero for only 6.5 hours in 2012, once in 1889 and also in the Middle Ages.

This year is coming near but not quite passing the extreme summer of 2012—Greenland ’s worst year in modern history for melting, scientists report.

“If you look at climate model projections, we can expect to see larger areas of the ice sheet experiencing melt for longer durations of the year and greater mass loss going forward,” said University of Georgia ice scientist Tom Mote.

“There’s every reason to believe that years that look like this will become more common.”

Lost 255B MT of ice a year

A NASA satellite found that Greenland’s ice sheet lost about 255 billion metric tons of ice a year between 2003 and 2016, with the loss rate generally getting worse over that period.

Nearly all of the 28 Greenland glaciers that Danish climate scientist Ruth Mottram measured are retreating, especially Helheim.

At Helheim, the ice, snow and water seem to go on and on, sandwiched by bare dirt mountains that now show no signs of ice but get covered in the winter.

Large Icebergs float away as the sun rises near Kulusuk, Greenland, in this August 16 photo.

Scientists are hard at work, trying to understand the alarmingly rapid melting of the ice. AP/Felipe Dana

The only thing that gives a sense of scale is the helicopter carrying Holland and his team. It’s dwarfed by the landscape, an almost imperceptible red speck against the ice cliffs where Helheim stops and its remnants begin.

‘Kool-Aid’

Those ice cliffs are somewhere between 225 feet (70 meters) and 328 feet (100 meters) high.

Just next to them are Helheim’s remnants—sea ice, snow and icebergs—forming a mostly white expanse, with a mishmash of shapes and textures.

Frequently water pools amid that white, glimmering a near-fluorescent blue that resembles windshield wiper fluid or Kool-Aid. As pilot Martin Norregaard tries to land his helicopter on the broken-up part of what used to be glacier—a mush called a melange—he looks for ice specked with dirt, a sign that it’s firm enough for the chopper to set down on. Pure white ice could conceal a

deep crevasse that leads to a cold and deadly plunge.

Warm, salty water from North America?

Holland and team climb out to install radar and GPS to track the ice movement and help explain why salty, warm, once-tropical water attacking the glacier’s “underbelly” has been bubbling to the surface “It takes a really long time to grow an ice sheet, thousands and thousands of years, but they can be broken up or destroyed quite rapidly,” Holland said.

Holland, like NASA’s Willis, suspects that warm, salty water that comes in part from the Gulf Stream in North America is playing a bigger role than previously thought in melting Greenland’s ice.

Greenland could cause 1-m sea level rise by 2100

And if that’s the case, that’s probably bad news for the planet, because it means faster and more

melting and higher sea level rise.

Willis said that by the year 2100, Greenland alone could cause 3 or 4 feet (more than 1 meter) of sea level rise.

So it’s crucial to know how much of a role the air above and the water below play.

“What we want for this is an ice sheet forecast,” Holland said.

Ice cracking sounds like thunder

In this remote landscape, sound travels easily for miles. Every several minutes there’s a faint rumbling that sounds like thunder, but it’s not. It’s ice cracking.

In tiny Kulusuk, about a 40-minute helicopter ride away, Mugu Utuaq says the winter that used to last as much as 10 months when he was a boy can now be as short as five months. That matters to him because as the fourth-ranked dogsledder in Greenland, he has 23 dogs and needs to race them.

‘We like to have a summer’

They can’t race in the summer,

but they still have to eat. So Utuaq and friends go whale hunting with rifles in small boats. If they succeed, which this day they didn’t, the dogs can eat whale.

“People are getting rid of their dogs because there’s no season,” said Yewlin, who goes by one name. He used to run a sled dog team for tourists at a hotel in neighboring Tasiilaq, but they no longer can do that.

Yes, the melting glaciers, less ice and warmer weather are noticeable and much different from his childhood, said Kulusuk Mayor Justus Paulsen, 58. Sure, it means more fuel is needed for boats to get around, but that’s OK, he said.

“We like it because we like to have a summer,” Paulsen said.

But Holland looks out at Helheim glacier from his base camp and sees the bigger picture. And it’s not good, he said. Not for here.

Not for Earth as a whole.

“It’s kind of nice to have a planet with glaciers around,” Holland said. AP

Energy from animal waste promotes local devt in Brazil E

NTRE RIOS DO OESTE, Brazil—Romário Schaefer is fattening up 3,300 pigs that he receives when they weigh around 22 kilograms and returns when they reach 130 kg to 160 kg—a huge increase in meat and profits for their owner, a local meat-processing plant in this city in Brazil.

Schaefer is not interested in the pork meat business. What he wants is the manure, which he uses to produce biogas and electricity that fuel his brickmaking factory.

“I’m not a farmer,” he says as he shows us around his Stein Ceramics company in the middle of a 38-hectare rural property on the outskirts of Entre Rios do Oeste, a farming town of 4,400 people in western Paraná, one of three states in Brazil’s southern region, on the border with Paraguay.

He is explaining the difference between himself and neighboring pig farmers who produce biogas and sell it to the MiniThermoelectric Plant inaugurated on July 24 to generate energy that serves the Entre Rios municipal government and all of its facilities in the town itself and the rest of the municipality.

For them, it is a new agricultural product, and has been recognized as such in Paraná for commercial and tax purposes. But for Schaefer, it’s an input for his factory, which makes bricks.

Animal waste, which pollutes the soil and rivers, is becoming an important by-product

in southwestern Brazil, where pig and poultry farming has expanded widely in recent decades.

The Haacke farm, in the municipality of Santa Helena, south of Entre Rios, uses the waste produced by its tens of thousands of hens and hundreds of cattle to produce biogas, electricity and biomethane.

Its biomethane, a fuel derived from the refining of biogas which is employed as a substitute for natural gas, is used in vehicles at the giant Itaipú hydroelectric plant shared

by Brazil and Paraguay on the Paraná River, which forms part of the border between the two countries.

In Mariscal Cándido Rondon, a few kilometers to the north, the Kohler family, pioneers in the use of biogas on their large farm, took on another role in the chain of this energy which is more than just clean—it actually cleans the environment.

They created a biodigester company, BioKohler, which is present in many projects spreading throughout Paraná and other Brazilian states, not only selling equipment, but also sharing know-how brought from other countries.

The new family initiative that can guide new projects is a biogas-fired power plant with an installed capacity of 75 kilowatts, built on the farm in partnership with the German company Mele, with many “tropicalized” technological innovations.

“Such a unit is only viable above 150 kilowatts of power, a scale that allows the cost of the investment to be recovered,” Pedro Kohler, who leads the family’s industrial branch, told Inter Press Service (IPS).

Schaefer looks at the question from the angle of the consumer who generates his own energy.

“Without biogas, my factory would not be viable. I would not be able to compete and survive in the market,” he said.

In recent years, many ceramic products factories, including brickmakers, went bankrupt in Brazil, something that also happened in the west of the state of Paraná, after the national economic recession of 2015 and 2016, which, especially, affected the construction industry and aggravated the rise in energy costs.

The pig-fattening contrac t with the slaughterhouse allowed Schaefer to avoid bankruptcy, the businessman said. “ Th e m e a t - p a c k i n g p l a n t s u p p l i e s everything: food, medicine and technical assistance. What I provide is the installations and the work force; a couple of workers is enough because everything is automatic, and I keep the manure,” he told IPS on his rural property.

Th at m a ke s i t p o s s i b l e f o r h i m t o deposit 1.8 million liters of pig waste in the biodigester, a large closed ball of black canvas, half buried in a pit measuring about 10 meters in diameter, where it ferments,

thanks to anaerobic bacteria.

The biodigester is the source of the biogas that feeds a generator which produces 23,000 megawatts/hour per month, enough to save 25,000 reais ($6,500 at the current exchange rate)—almost half of his electricity bill.

Actually, his mini-plant operates only four to five hours a day. It does so during peak evening consumption hours, when the electricity supplied by the distribution company is most expensive.

In the next few months, Schaefer hopes to put an additional 2,000 piglets in his fattening shed, where he is building new pigsties. He would, thus, expand biogas production, both to generate more electricity and to feed the kilns, replacing the burning of briquettes and wood waste.

The businessman has 19 years of experience with biogas, initially focused on burning it as a substitute for firewood, which was scarce, and on preventing pollution. As he explains, he proudly points to his “smokeless” fireplace.

In 2013 rising costs forced him to expand the biodigester and install the electric generator.

He also had to automate his factory to survive. “In the past, we employed up to 90 workers. Today there are only 20 and production has risen threefold,” he said.

Behind the progress made was great persistence, the ironing out of numerous

problems and third-party assistance. Sometimes he almost gave up, he confessed.

Some solutions came to him by chance, like the biodigestion mixer recommended by a German Embassy official, during a visit to his company.

Similarly, he learned about the advantages of incorporating waste whey into cheese production. This offers the dairy industry a sure way to dispose of it, while preventing pollution.

The main source of learning, technical support and drive for the various projects in western Paraná is the International Center for Renewable Energy-Biogas (CIBiogas), which operates in the Itaipu Technology Park.

Founded in 2013 as a nonprofit association of 27 national, local and international institutions, CIBiogas has a specialized laboratory, and implemented 11 biogas projects on farms and in agribusiness enterprises.

It is an energy source with varied uses and inputs that requires a lengthy learning process, and depends on business models and markets that have yet to be defined and are not yet consolidated, said Rafael González, director of Technological Development at CIBiogás.

Each project has its unique characteristics.

Changes in animal feed, which primarily seek to improve the production of meat or eggs, for example, can negatively affect the production of biogas.

“The hormones in pigs change their waste and biogas,” González told IPS. There are also differences between animal manures, said Daiana Martinez, information analyst at CIBiogas. Cattle manure, for example, is more productive, but contains a high level of hydrogen sulfide that causes corrosion, requiring more refining.

González said biomethane is the fuel currently used by 82 Itaipu cars, and has already been approved in tests with tractors, buses and other large vehicles. It is best to produce it from bird droppings, which facilitate the removal of hydrogen sulfide and carbon dioxide, he explained.

Biogas can meet up to 36 percent of the electricity consumption of this South American country, which is the size of a continent and is home to 210 million people, CIBiogas estimates.

This potential is basically divided between agricultural waste, which includes livestock and sugarcane vinasse, and urban waste, including sewage and garbage dumps.

In addition to avoiding pollution and the emission of greenhouse gases, biogas has been shown by local experience to promote local development, through energy projects and a chain of businesses, such as equipment industries, services and productive arrangements, González said.

Mario Ozava/IPS

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, August 26, 2019

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

Lizards, biodiversity’s unsung heroes

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he current increase in dengue patients might have been prevented if the mosquito-eating lizards highly populate the country’s communities.

They may not usually grab headlines or trend in social media compared with well-known biodiversity stars like whales or eagles, but lizards play a significant role in the environment.

By eating virus-carrying mosquitos, lizards can control the occurrence of dengue. In fact, areas riddled with dengue may possibly have a decreased population of insect-eating species like lizards.

According to the World Health Organization ( WHO), 16,463 dengue cases have been reported this year in the Asean, particularly in Cambodia, Lao PDR, Malaysia, Philippines, Singapore and Vietnam.

World Lizard Day on August 14, the Asean Centre for Biodiversity (ACB) brought the spotlight on lizards, biodiversity’s lesser-known heroes.

Besides controlling mosquito-spread diseases, lizards can also help with pests in farms. With lizards eating pests in crops, farmers can be assured of a better harvest.

Monitor lizards, for example, control the proliferation of rodents in plantations.

While they are important predators, lizards are important prey for many birds, snakes, and other animals, as well. Their presence is key in maintaining the balance in the food chain.

For example, the recently discovered fruit-eating Northern Sierra Madre forest m o n i t o r l i z a r d ( Va ra n u s b i t a t a w a ) i n the Philippines is food for the critically endangered Philippine eagle.

A healthy population of this forest monitor lizard would help ensure the survival of the rare eagle, which number in the wild has dwindled to only 400 pairs.

Lizards have exceptional characteristics that help them survive. They are able to escape predators by breaking off part of their tails when predators grab them. They are then able to regrow these tails.

Geckos particularly, have microscopic hairs,

Paulo Miguel Kim

called setae, that help them stick to surfaces, and jump and change direction in a split second.

Some lizards can live up to 50 years.

Lizards can also grow as big as 10-feet long.

The world’s largest lizard, the Komodo dragon, has excellent vision and speed, seeing as far away as 985 feet, and running up to 13 miles per hour.

The Komodo National Park in Indonesia, a Unesco World Heritage Site, was established to conser ve this unique lizard endemic to the archipelago.

Lizards, though, are under threat by habitat destruction, alien predators, pesticide use and climate change.

Based on a study published in Science journal, if the current global warming trends continue, 20 percent of the world’s lizard species will be extinct by 2080.

Meanwhile, in the Asean, International Union for Conservation of Nature data show that of the 723 assessed lizard species, 97 are under threat (vulnerable, endangered or critically endangered). Of the 723 assessed species, 201 are endemic to the Asean region, and 23 of these endemic species are threatened.

While lizards have exceptional survival characteristics, they still need protection in order to thrive amid environmental threats.

O n t h e Wo r l d L i z a rd D a y, t h e AC B reaffirmed its commitment to work with the Asean member-states in conser ving important species like lizards, so that they can continue being among biodiversity’s heroes.

Securing the future of PHL eagle

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he Philippine eagle, the country’s national bird, is critically endangered due to the threat of habitat loss. The good news is that efforts to save and protect them are strong and relentless. Today, an estimated 400 pairs of Philippine eagles remain in the wild.

In November last year, forest guards found the seventh nesting site for Philippine eagles on Mount Apo in Mindanao, a sign that the critically endangered bird of prey continues to make its home and produce offspring in one of its natural habitats. This is considered a key development in the protection and preservation of the Philippines’s national bird.

Last May, the quest to continue ensuring the survival of these raptors reached new heights when a pair of Philippine eagles bred in captivity at the Philippine Eagle Center in Davao City—the 15-year-old male Geothermica and 17-year-old female Sambisig—was sent to Singapore’s Jurong Bird Park.

Loaning the birds is part of an agreement between the Department of Environment and Natural Resources (DENR) and the Wildlife Reserves Singapore (WRS), a leading wildlife conservation group. It is also symbolic of the deep and valuable ties that the Philippines and Singapore have especially in common advocacies, such as environmental conservation and biodiversity protection.

Geothermica is the adopted eagle of geothermal leader Energy Development Corp.

(EDC), while Sambisig is the adopted eagle of a chemical company. Both are considered at the prime age of breeding.

During their two-year stay at Jurong Bird Park, it is hoped that they will mate and produce eaglets which can be released in suitable, vacant habitats back in the Philippines. The pair and their future offspring can provide a gene pool that may be used in case natural calamities or health epidemics like avian flu threaten the eagles’ population in the Philippines.

Eagles in the wild and in captivity

The Philippine eagle’s role on top of the food chain is considered crucial in keeping the balance of nature’s ecosystem. An abundant Philippine eagle population also indicates a healthy state of forests.

Besides from being the natural habitat of the Philippine eagle, the country’s highest peak, Mount Apo, also offers an abundance of geothermal energy—a form of clean and renewable energy that relies on heat coming from the Earth. Like the Philippine eagle, geothermal energy is dependent on a healthy vast forest cover for sustained production.

For this reason, central to EDC’s corporate social responsibility (CSR) initiatives is environmental conservation. At its 106-megawatt Mount Apo

Geothermal Project (MAGP), watersheds are well-maintained and forests are lush.

The 701-hectare protected geothermal reservation surrounding MAGP alone is home to 39 species of mammals and 165 species of birds, including the Philippine eagle.

For EDC, the fight to protect Philippine eagles must be waged in both captivity and the wild.

According to the Philippine Eagle Foundation (PEF), eagles bred in captivity can live up to 40 years and are considered more resilient to human handling and living in breeding facilities than their wildlife counterparts. This is why, in 2012, EDC adopted Geothermica under PEF’s Adopt-an-Eagle program.

“Sending Geothermica to the WRS is an important step in our collective efforts to protect the Philippine eagle, the survival of which is inseparable from the protection of our biodiversity. Since Philippine eagles are threatened by the loss of forest cover and shooting activities, we hope to exhaust all efforts to protect one of the most precious treasures of our biological heritage,” said EDC CSR Head Allan Barcena.

Continuing journey

Besides initiatives involving Geothermica, EDC also works closely with the Philippine Eagle Foundation (PEF) for research and monitoring.

EDC has consistently been recording sightings of the Philippine eagle within the reservation since 2011.

It is for this reason that the company collaborated with PEF in undertaking a Philippine eagle nest search within its area of operation.

Based on data from PEF, it is indeed likely that there is an active Philippine eagle nest within EDC’s AOR and that the reservation serves as the nesting pair’s feeding ground.

According to PEF director for research and conservation Dr. Jayson C. Ibañez, protecting these nesting sites is crucial because Philippine eagles in the wild are loyal to their breeding sites.

A nest found in Mount Apo in 1972, for instance, is still intact and being used.

At present, PEF has located 37 pairs of wild eagles with breeding nests in Mindanao. July marks the start of breeding season on the island, both for captive and those in the wild. Monitoring breeding adults and securing their health and safety as they produce and care for new eaglets help keep their bloodline alive.

“In the long run, we hope to see more eagles flying across their natural habitats, which means that we also have to work hard on increasing and maintaining forest cover. With the help of the Philippine Eagle Foundation and other institutions, we are optimistic that our efforts in both the wild and captivity will secure the future of the Philippine eagle,” Barcena said.

A9

From tusks to tails

Nations eye trade in endangered species G ENEVA—From guitars to traditional medicines and from tusk to tail, mankind‘s exploitation of the planet‘s fauna and flora is putting some of them at risk of extinction. Representatives of some 180 nations are meeting in Geneva to agree on protections for vulnerable species, taking up issues—including the trade in ivory and the demand for shark fin soup.

The World Wildlife Conference on trade in endangered species, known as CITES, which takes place every three years, aims to make sure that global trade in specimens of wild animals and plants doesn’t jeopardize their survival.

The conference opened on August 18 and runs through August 28, with key decisions expected to be finalized in the last two days. It had originally been due to take place in Colombo in May and June, but was moved to Geneva after a series of terror attacks in the Sri Lankan capital.

Three months ago, the first comprehensive UN report on biodiversity warned that extinction is looming for over 1 million species of plants and animals. There are growing concerns that policy-makers aren’t acting quickly enough to stop it.

“Business as usual is no longer an option.... The rate of wildlife extinction is accelerating,” said CITES Secretary-General Ivonne Higuero in her opening remarks to the conference. “ T he assessment conf ir ms that nature’s dangerous decline is unprecedented,” Higuero said.

The meeting also comes just days after the Trump administration announced plans to water down the US Endangered Species Act—a message that could echo among attendees at the CITES conference, even if the US move is more about domestic policy than international trade.

Sustainable management

Alain Berset, head of the home affairs department of host Switzerland, noted that sustainable management of threatened species “of course requires taking into account the interests and the needs of the countries where these species live.”

CITES bans trade in some products entirely, while permitting international trade in other species—provided it doesn’t hurt their numbers in the wild.

Demand is diverse for animal and plant products, prized for their medicinal properties or as pets, culinary delicacies, and products for knitwear and handbag—among many other uses.

Customs officials around the world know to be on the lookout for the CITES logo on shipments of plants and animals across borders: It amounts to a highly respected seal of approval that trade in such species is legitimate.

The meeting’s agenda contains 56 proposals to change— mostly strengthen—the level of protection among vulnerable or endangered species.

Downgrade protections?

But some argue that protections should be downgraded because the relevant populations have stabilized or even increased. Officials say the decisions are to be based on science, not political or other considerations. “ T he new w ild life trade rules...cover an array of mammals, birds, reptiles, amphibians, trees and other plants.

Twenty listing proposals are inspired by concern over the growing appetite of the exotic pet trade for charismatic amphibians and reptiles,” CITES says.

Ivory

Africa is facing an internal debate about elephants and ivory.

Za mbi a—wh ic h a rg ues its population of wild African elephants is large and stable, at about 27,000—wants to “downlist” that population to allow for ivor y stockpile sales and ex por ts of hunting trophies, hides and leathers.

A fe w ot he r cou nt r ie s i n sout her n A f r ica wa nt a not her r u le on elepha nts eased. But 10 ot he r cou nt r ies — a l l but one A f r ica n—wa nt tot a l pro tection for elephants f rom any inter nat iona l ivor y t rade.

Israel is even proposing tougher regulations on the legal trade of mammoth ivory, hoping to under-

A worker collects pieces of shark fins dried on the rooftop of a factory building in Hong Kong in this January 3, 2013, photo. AP/Kin Cheung

cut illegal traffickers of elephant tusk who sneakily try to pass it off as “ice ivory”—ivory that comes from mammoth tusks.

Elephant and mammoth tusks can be almost indistinguishable to the untrained eye, and the mammoth ivory trade has become a booming business. Conference attendees will have to determine whether products from a longextinct species can or should be covered by CITES. Advocacy group Avaaz says one key question is whether Japan— home to the world’s largest legal ivory market—will join other countries committed to closing their ivory trade.

“Japan’s ivory market is fueling the international illegal ivory trade,” Avaaz campaigner Andy Legon said in an e-mail. “And with elephants facing extinction, China, the US, Hong Kong SAR, Singapore and others have recently committed to closing their ivory markets.”

Go Tsurumi, chairman of the Japan Federation of Ivory Arts and Crafts Association, insisted some people who live alongside elephants in Africa would be “very disappointed” if domestic demand for ivory is cut off in places like Japan.

“The many people who work in the ivory business will no longer be able to continue with their work in that business—and that is a serious problem,” he said.

Flora issues

Flora, arguably a less glamorous subject than animal life, also gets spots on the agenda.

One proposal, for example, would exempt musical instruments from trade restrictions on a type of rosewood that’s prized by guitar makers.

Shark fins

Also on the agenda are sharks.

Some researchers say commercial demand for shark fins—largely driven by the Chinese appetite for shark fin soup—is decimating populations.

Sharks are getting some support in high places, including from retired basketball all-star Yao Ming, who led China’s Olympic team three times.

Yao became a WildAid ambassador in 2006 when he signed a pledge to give up shark fin soup and has since appeared in numerous ads calling for diners to skip the luxury soup to save sharks.

Wild Aid, an environmental group, also says Yao was instrumental in bringing about China’s ivory ban two years ago.

Luke Warwick of the Wildlife Conservation Society said dried shark fin can command up to $1,000 per kilogram, and listing more shark species to the CITES list would be just one of several measures needed to help vulnerable populations of the predators of the deep.

“You’ve got this huge, unsustainable global trade in shark fin and huge parts of it, 80 percent, are not regulated, with millions of animals dying,” he told a Geneva news conference this week.

“We’re watching them disappear before our eyes.”

Dr. Abdulla Naseer, the Maldives’s environment minister, said his island nation supports three proposals to protect 18 species of sharks and rays, namely the mako shark, white-spotted wedgefish and giant guitarfish.

“We would be ensuring future trade is sustainable...before it’s too late,” he said. “We want to see the oceans protected for future generations.” AP

Nepal protesters urge end to plan to cut trees for airport

K

AT H M A N DU, Ne p a l — Around 100 people protested in Nepal’s capital last week to voice their opposition to plans to cut down millions of trees to build an international airport in the southern part of the country.

The protesters picketed the offices of the Civil Aviation Authority of Nepal and the Department of Forest in Kathmandu,

calling for an immediate stop to the plans to build the airport in Nijgadh, about 80 kilometers (50 miles) south of the capital.

It’s estimated that 2.4 million trees will have to be cut down to build the airport, which is expected to cost $3.5 billion.

The protesters alleged that the planned airport would be an environment disaster because it would destroy forests that are

the habitat for wild animals in the area.

“We are demanding the government immediately stop the plans to cut down the trees and destroy the environment of the region to build this airport,” said Sunil Yadav, a protester who traveled from his home in southern Nepal for the demonstration.

Yadav said that an international airport was necessary in

the area, but that a new location needs to be chosen where there are no forests or wild animals.

The planned project would also force some 500 families to move from their villages.

Nepal has only one international airport, located in Kathmandu.

During bad weather in winter and the rainy season, international flights to Nepal are sometimes diverted to other countries. AP

A10 Monday, August 26, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Looking at the 2020 government budget

L

AST week, the Department of Budget and Management (DBM) submitted the proposed P4.1trillion budget or National Expenditure Program (NEP) for 2020 to the House of Representatives.

Speaker Alan Peter Cayetano said the House would hold hearings in the hopes of meeting its self-imposed deadline of approving the 2020 budget before Congress goes on its first recess on October 5. We hope this will happen to avoid the delays of approval that resulted in the 2019 budget being delayed far longer than acceptable.

The 2020 budget is 11.8 percent higher than the P3.662-trillion budget for 2019 and represents 19.4 percent of the country’s projected gross domestic product (GDP) in 2020.

A breakdown of the spending allocations in the budget shows the spending emphasis as outlined in a statement by Acting Budget Secretary Wendel Avisado: “This budget will renew our push for real change by sustaining our investments in public infrastructure and human capital development, namely health care, education and poverty alleviation.” That remains to be seen, but it is a noble thought nonetheless.

However, some number crunching at this point may make that statement more along the lines of a little wishful thinking.

The government, of course, is presenting the budget as potentially giving a boost to economic growth next year. This is due to the fact that the proposed spending is going to be higher. Yet, the overall budget deficit based on the document submitted by the DBM shows that it will remain at 3.2 percent of the nation’s GDP. Therefore, the budget is likely to have a neutral impact on the overall growth of the GDP. Further, while the talk is that there will be a positive impact on funding for the “Build, Build, Build” infrastructure program, that spending will actually be lower in relation to, and as a percentage of, the total GDP. Infrastructure spending is expected to rise to 5.3 percent of GDP in 2020, which is actually significantly lower than the 5.9 percent of GDP projected in the 2019 budget. The point is that while the numbers of pesos spent may be higher, what is more important is the effect on the economy. Assuming that the GDP increases by 5.5 percent, actual spending would have to increase by more than that amount to affect the GDP’s overall growth.

With the current account deficit increasing substantially since the middle of 2018—largely the result of a rush in imports of capital goods to support the infrastructure drive—the government’s finance people may be taking a more cautious approach.

Some economic analysts are touting the 2020 budget as the driving force behind a higher growth rate in 2020 than 2019, and they may be correct. However, at the end of most of these favorable comments is the thought that the real force behind lower growth in 2019 was the delay in passing the budget rather than the budget numbers.

It would appear that that problem has been solved. Now we have to wait a year to see if the actual spending does what the government hopes it will do to propel growth.

Preparing for a possible recession Atty. Jose Ferdinand M. Rojas II

RISING SUN

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HERE are murmurs that point toward a looming global recession or economic slowdown in the immediate future.

Some economic experts are not saying this is going to happen, but they are analyzing some indicators and, as early as now, studying the possible consequences that this might have on our economies, politics and communities.

Looking at some developments in various parts of the world, one would see there are many positive economic developments happening that one wonders what the recession fuss is all about. Many economies continue to grow, the US and Europe’s employment rates are up, US wages are also increasing, and many private corporations are financially ready for any short-term crisis.

On the other hand, there are a few indicators that economists

are looking into: the economies of Japan, Singapore and Argentina are seen to be on the brink of recession; Germany just recorded a lower GDP from April to June this year and their third-quarter performance is not looking any better.

The trade war between China and the US continues to affect many economies, the unrest in Hong Kong is also affecting how people work and conduct business.

According to the World Economic

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creative strategies to come up with steps that would increase flexibility and the capacity to roll with the punches. For example, companies can implement benefit systems or new wage structures that are more responsive to conditions in the labor market so that instead of losing jobs, employees get to keep their income during the hard times.

Finally, investors and ordinary citizens are being advised to avoid making hasty financial and investment decisions at this time. Secondly, it’s a great time to plan—if you haven’t done so already—for your career, personal life, health and the future in general. And, lastly, increase your cash savings so you are financially prepared for any kind of crisis. nnn

AN invitation: I would like to invite you, my dear readers, to the opening of my 4th solo art exhibit called Rising Sun. It’s happening on September 2, Monday, at 6 p.m. at the Art Center in SM Megamall. I hope you can drop by on this day or visit the show during its run.

Sexual orientation and gender identity or expression

Since 2005

✝ Ambassador Antonio L. Cabangon Chua

Forum, the vulnerable segments of the population are usually affected during episodes of economic crises.

Because they are at a disadvantage, they wouldn’t have the necessary resources and skills to adapt to setbacks, nor do they have access to new opportunities that could help them cope with such.

So what can we do? First of all, governments need to work together and coordinate policies so that the continuous flow of money is ensured. Reducing taxes and startup costs, reforming the labor/product markets, and investing in assets that increase productivity are just some of the strategies that states could take to remain competitive. Government agencies can also design unemployment benefits for its citizens, like insurance schemes, cash transfer programs, livelihood support, job fairs and employment opportunities that can provide economic security for workers and their families.

The business sector, on the other hand, must remain calm and not cut investments, downsize or do anything drastic. It would require more

Atty. Lorna Patajo-Kapunan

LEGALLY SPEAKING

I

T took a transgender, Gretchen Custodio Diez, and an unfortunate female restroom incident with a now maligned female janitor to bring to the public’s attention the need to clearly define the rights of the LGBTIQ (lesbian, gay, bisexual, transgender, intersex and queer) who continue to experience discrimination due to their sexual orientation, gender identity or expression. Having failed to be passed in the 17th Congress, equal rights advocates are hopeful the Sogie bill will be passed in the 18th Congress. Under the newly re-filed Sogie bills of Senator Risa Hontiveros (SB159) and Representatives Geraldine B. Roman (HB134) and Maria Lourdes O. Acosta-Alba (HB95), Sogie is defined as follows: “1) Sexual Orientation refers to the direction of emotional sexual attraction or conduct. This can be toward people of the same sex [homosexual orientation] or towards people of both sexes [bisexual orientation] or toward people of the opposite sex [heterosexual orientation].

Gender Identity refers to the personal sense of identity as characterized, among others, by manner of clothing, inclinations, and behavior in relation to masculine or feminine conventions. A person may have a male or female identity with the physiological characteristics of the opposite sex.

Gender Expression refers to the outward manifestations of the cultural traits that enable a person to identify as male or female according to patterns that, at a particular

moment in history, a given society defines as gender appropriate.”

The Sogie bills declare it to be unlawful for any person, natural or juridical to: “a) Promote and encourage stigma on the basis of Sogie in the media, in educational textbooks, and other medium. Inciting violence and sexual abuse against any person or group on the basis of Sogie is, likewise, prohibited; b) Include Sogie, as well as the disclosure of sexual orientation, in the criteria for hiring, promotion, transfer, designation, work assignment, reassignment, dismissal of workers and other human resource movement and action, performance review and in the determination of employee compensation, career development opportunities,

training, and other learning and development interventions, incentives, privileges, benefits or allowances, and other terms and conditions of employment: Provided That, this provision shall apply to employment in both the private sector and public service, including military, police and other similar services: Provided Further That this prohibition shall, likewise, apply to the contracting and engaging of the services of organizations with lesbian, gay, bisexuals, transgender, intersex, or queer members or of associations or organizations advocating LGBTIQ rights; c) Refuse admission or expel a person from any educational or training institution on the basis of Sogie: Provided, however, that the right of educational and training institutions to determine the academic qualifications of their students or trainees shall be duly upheld; d) Impose disciplinary sanctions, penalties harsher than customary or similar punishments, requirements, restrictions or prohibitions that infringe on the rights of the students on the basis of Sogie, including discriminating against a student or trainee due to the Sogie of the student’s parents or legal guardian; e) Refuse or revoke the accreditation, formal recognition, registration or plan to organize of any organization, group, political party, institution or establishment, in educational institutions, workplaces, communities, and other settings, solely on the basis of the Sogie of their members or of the target constituencies; f) Deny a person access to public

or private medical and other health services open to the general public, as well as access to public and private health insurance, including HMOs, on the basis of Sogie; g) Deny an application for or revoke, on the basis of Sogie, any government license, authority, clearance, permit, certification or other similar documents necessary to exercise a profession, business or any other legitimate calling; h) Deny a person access to or the use of establishments, facilities, utilities, or services, including housing, open to the general public on the basis of sexual orientation or gender identity or expression: Provided, that the act of giving inferior accommodations or services shall be considered a denial of access or use of such facility or service: provided, further, that establishments will make available the existing toilets with facilities designated for persons with disabilities also as gender neutral toilets: Provided, finally, that this prohibition covers acts of discrimination against juridical persons solely on the basis of the sexual orientation or gender identity or expression of their members or of their target constituencies: i) Subject or force any person to undertake any medical or psychological examination to determine or alter, or both, the person’s sexual orientation or gender identity or expression without the expressed approval of the person involved, except in cases where the person involved is a minor and below the age of discernment in which case prior See “Kapunan,” A11

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Looking back at mismanaged Finding the right people coco-levy funded assets Siegfred Bueno Mison, Esq. Dr. Jesus Lim Arranza

THE PATRIOT

ORRUPTION is happening globally. Not even the rich economies of the world are free of graft and corruption. However, it varies among nations in terms of its magnitude, moral values of people involved, and level of government tolerance.

IM STEVENS led an executive search firm in the United States that helped churches find great leaders. As a pastor in Indiana, he helped a fairly small community church expand in Indiana, as well as build 1,800 new churches in India. In his book, Fairness is Overrated, Stevens shared four basic leadership principles, one of which particularly caught my attention— “find the right people.”

MAKE SENSE

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Monday, August 26, 2019 A11

is no guaranteed method to know a person’s character. But a person’s notoriety usually precedes his reputation as it usually reverberates across the entire organization to the extent that everybody knows who has skeletons in his closet.

When I was in the Army, all of us somehow knew who were the “angels and demons” in the uniformed service. The same goes in the legal profession; lawyers themselves know the good and the bad ones. And I suppose the same principle applies in the sales and marketing sector, medical practice, engineering profession, or any other industry.

Composure can be seen in the words used, as well as in the tone, gestures, and facial expressions that go with them. When I interviewed close to a thousand aspiring immigration officers over a twoyear span, I always required a side and a back judge to keenly observe nonverbal signs that may somehow show a person’s composure. After asking a series of typical recruitment questions—why do you want to join, what can you contribute, what makes you a good candidate— I ask them one question that usually exposes their ability to think on their feet. “So, what is your joke for today?” Taken by surprise by this “off-the-wall” question, some candidates stutter responses with much uneasiness. To me, those who can calmly pull out a joke from his comic arsenal under a tense environment are the ones who are usually evenly keeled and stable under pressure. They are the ones who will have the courage to speak freely

​In Japan, for instance, people involved in corruption, or those whose names have been publicly tainted commit hara-kiri (suicide).

Honor and integrity are so important in Japan that people would rather kill themselves than live a shameful life. ​In the United States and other western nations, it is common for officials from both the public and private sector to resign when their wrongdoings, whether official or not, are exposed. All these are happening because of the moral values of those involved in fraud and graft in these countries and its government’s low, if not zero tolerance to corruption. ​But in the Philippines, which, according to a 2010 survey among the 16 major Asia-Pacific investment destinations, allegedly ranked as the fourth most corrupt, this could also be the reason why President Duterte resorts to shame and fire campaign against corruption.

I have seen the shenanigans of some top industry officials who took over the sequestered and once profitable oil mills of the Coconut Industry Investment Funds-Oil Mills Group (CIIF-OMG) after the 1986 Edsa Revolution. They mismanaged the mills, resulting in huge financial losses to the once profitable investments of the coconut industry. ​A nd while the oil mills group was bleeding, its top official was practically globe-trotting. Immigration records show that this official travelled out of the country 27 times over a period of a little more than two years. ​In 2009, I was tapped by thenPresident Gloria Macapagal Arroyo to lead the CIIF-OMG, which had already lost over P1.5 billion. And in six months, I humbly turned around the oil mills group’s financial records from negative to positive. ​T he oleo-petrochemical plant, then the country’s pride and the first in Asia, was also reportedly mismanaged by its top officials.

Nothing was done to improve or modernize the plant, making it uncompetitive in the global market.

This eventually led to its closure.

And today, the plant is nothing but

I have seen the shenanigans of some top industry officials who took over the sequestered and once profitable oil mills of the Coconut Industry Investment Funds-Oil Mills Group after the 1986 Edsa Revolution. They mismanaged the mills, resulting in huge financial losses to the once profitable investments of the coconut industry.

Kapunan. . .

Wicked solutions for a wicked problem that is traffic

continued from A10

approval of the appropriate Family Court shall be required. In the latter case, the child shall be represented in the proceedings by the Solicitor General or the latter’s authorized representative; j) Harassment, coercion, or threats committed by members of institutions involved in the enforcement of law, and the protection of rights of any person on the basis of sexual orientation or gender identity or expression. Among other cases, prohibited acts under this section include arresting or placing under custody, and subjecting a person to extortion, physical, verbal abuse, or sexual abuse, regardless of whether such arrest has legal or factual basis.

Harassment, coercion, or threat of juridical persons on the basis of the sexual orientation or gender identity or expression of their members, stockholders, benefactors, clients, or patrons is likewise covered by this provisions; To be continued

a pile of junk. ​Could the people who managed these coco-levy funded investments and were responsible for their sorry state, if not downfall, be charged or held accountable? The only government official I learned who was made accountable and charged for graft was a top UCPB executive. ​I highly recommend, therefore, that in the interest of justice, people involved in the deterioration, if not breakdown of these investments are held accountable. Otherwise, we would just as well be condoning their deeds. And as a long time anti-corruption advocate, I cannot, in my conscience, live without saying my piece about these issues of corruption in the coconut industry. ​R etirement and resignation should not extinguish the culpability of government officials for their corrupt practices. Otherwise, this will be a vicious cycle where government officials will only retire after mismanaging and enriching themselves in office through acts of omission or commission, whether deliberately done or not.

I​ call on the Senate and the House of Representatives to hold an investigation in aid of legislation, to determine the reasons for the sorry state of the coco-levy funded investments. Moreover, this could also help both Houses of Congress in crafting a new measure to replace the vetoed bill that sought to create a body to manage the coco-levy fund.

Dr. Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade, a broad-based, multi-sectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

He further said that “the success of leaders will rise and fall based on the decisions they make about the people around them.” Any chief executive, in government or in business, must know how to choose the right people who will help him lead the organization.

A great leader picks other leaders to be around him as opposed to doers—those who will blindly follow orders. Since, successful organizations require open communications and candid feedback, the right people are those who have the courage to speak up.

Job applicants will always submit an attention-getter resume to impress the recruiter. Stevens said that a resume, with all the education, jobs, and achievements, is worthless as a tool to rely on when hiring. While I am not a recruiter, I have interviewed quite a few job aspirants—lawyers and immigration officers. I believe that hiring

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

A triumph for working mothers and their families Razzel Ann Vergara

DEBIT CREDIT Conclusion

W

ITH the signing into law of Republic Act 11210 or the “105-Day Expanded Maternity Leave law” on February 20, 2019, substantial benefits were granted to our working mothers.

These benefits are applicable to all pregnant female workers in the government and the private sector regardless of employment status.

Likewise, these are also applicable to pregnant women in the informal economy, voluntary contributors to the SSS, and female national athletes. It is also important to note that these benefits can be availed of, regardless of the civil status of the mother or the legitimacy of the child born.

Thomas M. Orbos

STREET TALK

T

HE present traffic situation that we are experiencing, not just in Metro Manila but in most urban centers in our country, is what public policy and business schools would call as a “wicked problem.” According to Horst Rittel, a well known urban planner, wicked problems are a set of problems that emanate from diverse sources, is emergent and shifting, and will never have one right answer. Rightly so, as we would normally hear people—us even—attributing traffic to the lack of roads, too many cars, lack of enforcement, corruption, discipline of commuters and motorists, and every other reason we can imagine. All are partly true and partly false. The truth is, our traffic situation is a compounded problem that is a product of years and years of all of the above.

And how does one solve or begin to solve “wicked problems”?

Wicked solutions—that’s the way to go. There is not one solution to a problem that is a by-product of so many problems. To address a wicked

decisions should be anchored on a person’s character, composure, and most of all, chemistry.

Character can be discovered after a diligent background check and group interviews. Stevens suggested three areas—words, money and sex—must never be compromised.

In the Bible, 1 Timothy 3:1-3, tells us, “Whoever aspires to be an overseer desires a noble task. Now the overseer is to be above reproach, faithful to his wife, temperate, self-controlled, respectable, hospitable, able to teach, not given to drunkenness, not violent but gentle, not quarrelsome, not a lover of money.”

Companies should never hire those who cannot control their tongue, cannot be trusted with money, and cannot keep their pants zipped. Knowing that a resume is a self-serving proof of niceties, recruiters should always call references and elicit as much information they can to discover integrity issues. There

and confidently regardless of the cost to their job security.

Chemistry is often overlooked in the recruitment process. New hires must share the same vision of the organization or of its founder. Executive search firms grapple with the dilemma of hiring within or getting fresh eyes from the outside. I think homegrown hiring should be preferred. Alignment with the team’s goals is already tested for those insiders. However, if the organization needs a culture change or needs a major turnaround strategy, an outsider, whose perspective is not influenced by the politics within, should be preferred. I know of a founder of a startup company whose recruitment process includes an informal lunch where the interpersonal skills of the applicant are tested. In Malcolm Law firm, the partners have an informal gathering, usually breakfast, with a potential partner before formally inviting him/her to join the Firm. Chemistry is hardly manufactured in time; it is either present or absent at the onset.

When the right people are hired but turned out to be not right, a great leader knows how to let them go. When the people within are no longer aligned with the goals of the organization, a great leader gives them a graceful exit. However, these situations will be avoided if only the recruitment process puts a premium not on credentials, as seen in the resume, but on character, composure, and chemistry.

problem, one would need to attack it with wicked solutions. A myriad of solutions is needed for every aspect of the wicked problem. That is why the bus segregation scheme in Edsa, as it was correctly pointed out by the

A female worker can still avail herself of maternity leave with full pay even if the childbirth, miscarriage or emergency termination of pregnancy occurs not more than 15 days after termination of employment. However, this period is not applicable if the employment is terminated without just cause, in which case the employer will pay the full amount of maternity benefits.

The law also expressly prohibits the act of discriminating against the

Metropolitan Manila Development Authority (MMDA), cannot work without the provincial bus ban. And the provincial bus ban can only work if there is an intermodal component, of which what will make it more efficient would be a comprehensive route planning and consolidation.

True, we need a transport and traffic plan—and we have one. But not even that would really come close to solving it. What we need is a basketful of wicked solutions to resolve a basketful of wicked problems.

In this regard, the good news is we have a lot of solutions in play right now. The infrastructure program of the government, in particular the bridges and roads of the Department of Public Works and Highways; the transport modernization of the Department of Transportation to include rails and land transport modernization; the intelligent traffic system that MMDA is planning to implement in the next few years and the active road clearing activities of the local governments are but part of the

hiring of women and protects their security of tenure by ensuring that there is no diminution of benefits even by reason of having gone on maternity leave.

Employers who fail or refuse to comply with this law may be subject to a fine of not less that P20,000 but not more than P200,000, and imprisonment of not less than six months and one day but not more than 12 years or both. The implementing rules and regulations of this law has been signed on May 1, 2019 and is effective 15 days after its publication in at least two newspapers of general circulation.

Clearly, this will have an impact in the operations of a company.

Employers will now pay the salary differential between the Social Security Services allowance and the actual salary of qualified female worker on maternity leave (except exempt establishments as approved by the Department of Labor and Employment) without any limit on the number of childbirths. Another is the expected increase in contributions of both the employees and

The good news is we have a lot of solutions in play right now.

The infrastructure program of the government; the transport modernization of the DOTr; the intelligent traffic system that MMDA is planning to implement; and the road clearing activities of the local governments are but part of the initiatives to address this wicked problem.

government initiatives to address this wicked problem.

And as it is a compounded problem, stakeholder participation is key.

Motorists, commuters and pedestrians participate by being conscious, doing their part and being aware and supportive of government initiatives. Yes, we have all the right to complain and demand what we should be getting for the taxes we pay, but we also need to be following the rules. Doing the right thing is as important as being critical of government.

employers. In addition, the pending bills that will eventually ban contract employment, which will prevent the employers from hiring temporary workers to substitute for female workers during their maternity leave. Another challenge for companies is how they can ensure proper turnover of responsibilities between the pregnant worker who is set to take a leave to another employee.

On the part of female workers, it will likely create a better working environment for them. They will likely be more motivated and interested in increasing their productivity. We can only hope that this measure would not prompt employers to hire more male workers than female.

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

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

This is my first column that I will be writing weekly in this paper. I have decided to call my column “Street Talk” for the personal experience I have on the road, both before as a member of government and now, in my crusade, just like everyone else, to have a safer, more convenient road travel that is available for everyone.

I would like to thank Hon. Anthony C. Cabangon, the publisher of BusinessMirror; Chuchay Fernandez, our editor in chief and my good friend, former DOT Assistant Secretary Ric Alegre for giving this opportunity to share my insights on a concern that is close to my heart —that is traffic, transport, urban mobility among others to my fellow Filipino road warriors. Indeed, I am back on the road again.

Thomas “Tim” Orbos was former DOTr undersecretary for Roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

2nd Front Page BusinessMirror

A12 Monday, August 26, 2019

www.businessmirror.com.ph

SC affirms: ₧635-M DBP loans not behest T

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court has affirmed the ruling of the Office of the Ombudsman dismissing the graft complaint against former officials of the Development Bank of the Philippines (DBP) and officers of a local textile company accused of obtaining P634.8 million in behest loans.

In a 19-page decision penned

by Associate Justice Marvic Leonen, the SC’s Third Division threw out the petition filed by the Presidential

Commission on Good Government (PCGG) seeking the reversal of the July 31, 2006, resolution and January 21, 2011, order of the Ombudsman.

The Office of the Ombudsman found no probable cause to charge the officials of the DBP— Cesar Zalamea, Rafael Sison, Alicia Reyes, JV de Ocampo, Joseph Edralin and Rodolfo Manalo— and ALFA Integrated Textile Mills Inc. (ALFA Integrated Textile) officers Ramon Lee, Johnny Teng, Antonio DM. Lacdao and Cesar Marcelo, for violation of Republic Act 3019, or the Anti-Graft and Corrupt Practices Act. It held that the six loans obtained by ALFA Integrated Textile from Development Bank from 1979 to 1981 were not behest loans.

The PCGG failed to prove that

‘Pagcor ’20 earnings to hit ₧75B’

T

OTAL earnings of the staterun Philippine Amusement and Gaming Corp. (Pagcor) are projected to reach P75.1 billion next year, agency officials told Congress.

At the budget briefing of the House Committee on Appropriations, Pagcor Vice President James Patrick Bondoc told lawmakers the projected revenue for 2020 is higher than this year’s P73.8-billion estimated revenue.

Bondoc said of the P75.1-billion projected revenue for 2020, P73.6 billion will come from gaming operations, and P1.5 billion from related services and other income of Pagcor.

He said total operating expenses are expected to reach P19.7 billion, up by 16.7 percent from this year’s estimate of P16.8 billion.

Meanwhile, contributions to nation-building, as mandated by special laws, is projected to reach P49.7 billion, lower than 2019’s P51.5-billion estimated contributions. For the first semester of 2019, Bondoc, meanwhile, said Pagcor generated total income of P38 billion.

He said the contribution to nation-building from January to June 2019 is now at P27.56 billion.

Gaming taxes paid and contributions made by Pagcor include a

SOUTHWEST MONSOON AFFECTING LUZON AND WESTERN VISAYAS as of 4:00 am - August 25, 2019

5-percent franchise tax, a 50-percent government share and the dividends it gave to the Dangerous Drug Board in line with Republic Act (RA) 9165, or the Comprehensive Dangerous Drugs Act. Pagcor also earns from shares, license fees, offshore gaming operations, rental and entertainment, apart from its casinos.

In February, the Pagcor reported a total income from gaming operations of P67.854 billion in 2018.

Pagcor reported that its P67.854billion collection was higher by 18.34 percent than revenues it collected in 2017, of P57.335 billion.

Jovee Marie N. Dela Cruz

the loans and accommodations in favor of ALFA Integrated Textile, the rehabilitation plan, and the fixed assets sale were grossly or manifestly disadvantageous or prejudicial to the government, the Ombudsman held.

Instead, it ruled that the acts complained of were done in the exercise of the bank officials’ sound business judgment in DBP’s interest.

In seeking the reversal of the Ombudsman’s ruling, the PCGG insisted before the SC that the loans to ALFA Integrated Textile have the characteristics of being behest loans because: these were secured by inadequate collaterals,

the loans were extended despite the company’s continuous losses, and loan proceeds were used to pay off existing obligations rather than being invested. These denied DBP the opportunity to recover from the loans.

The SC, however, gave more weight to the findings of the Ombudsman that there were sufficient collaterals securing ALFA Integrated Textile’s loans.

It further noted that the Ombudsman was correct in holding that the rehabilitation plan the DBP recommended would not be disadvantageous to the government since its terms and conditions

were not contrary to law and actually benefited the government, “Thus, the records of this case support public respondent Office of the Ombudsman’s finding that Development Bank exercised sound business judgment and acted under existing banking regulations in its loans to ALFA Integrated Textile,” the SC said.

“Petitioner failed to show how the risk Development Bank had taken in extending the loans to ALFA Integrated Textile was arbitrary or malicious. Likewise, it was unable to prove the element of undue injury; that is, the losses that would have See “DBP loans,” A2

DOJ to tell SC it will suspend law expanding prisoners’ GCTA

T

HE Department of Justice (DOJ) is set to inform the Supreme Court on the need to temporarily suspend the implementation of its decision mandating retroactive application of the expanded Good Conduct Time Allowances (GCTAs) under Republic Act 10592, the law meant to decongest prisons and seen to release thousands of prisoners.

“We will surely inform the Supreme Court of the need to temporarily suspend the processing of GCTAs until the BuCor [Bureau of Corrections] guidelines have been carefully reviews by a DOJ task force to be constituted for the purpose,” Justice Secretary Menardo Guevarra told reporters.

Guevarra clarified that the DOJ will merely inform the high court of the complications, and not formally ask the SC for the suspension of the implementation of its order issued last June, which the Court said is “immediately executory.”

“We will just inform the SC. Immediately executory simply means final, it does not preclude a momentary suspension so that guidelines could be reviewed before moving forward. I’m sure the SC would understand,” Guevarra said.

The law, though acknowledged in many quarters as well-intentioned, has become the focus of attention owing to reports that one of those to be immediately benefited is former Calauan, Laguna, Mayor Antonio Sanchez.

The latter has been jailed the past 26 years for seven life terms imposed upon his conviction of the rape-murder of UPLB coed Eileen Sarmenta and the torture-murder of her boyfriend Allan Gomez.

On June 25, 2019, the Court issued a decision ordering the immediate enforcement of its ruling that the GCTAs under the 2013 Republic Act 10592 should be implemented retroactively.

RA 10592 was enacted on May 2013 and signed into law by former President Benigno Aquino III. RA 10592 amended several provisions in the Revised Penal Code (RPC) and authorized the credit of preventive imprisonment and revision of good conduct time allowance of persons deprived of liberty.

The law expanded the application of GCTA for prisoners even during preventive suspension, increased the number of days for GCTA, allowed additional deduction of 15 days each month of for time allowance for study, teaching or mentoring service (TASTM), and expanded the special time allowance for loyalty (STAL) even during preventive suspension.

See “DOJ,” A2

SUSTAINABLE LIVELIHOOD Nestlé Philippines Chairman and CEO Kais Marzouki underscores the value of public-private partnerships in supporting agriculture at the recent Sustainable Agriculture Forum. Sponsored by the European Chamber of Commerce, it had the theme “Towards a Sustainable and Responsible Agricultural Supply Chain.” PPPs harmonize public and private resources: government provides infrastructure, access to farmers, and funds; the private sector offers systems, technology, multistakeholder links and a ready market come harvest time. Nestlé is actively committed to two agricultural PPPs, the Nescafé Plan which assists Robusta coffee farmers, and supporting sugar farmers through the Responsible Sourcing from Smallholders (RSS) program.

In tracking cause of hog deaths, govt urged to test imported feeds

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Philippine Maize Federation Inc. (PhilMaize) has urged the government to conduct laboratory tests on imported feed products to ensure these goods were not contaminated with animal virus, and rule out the possibility that they caused the unusual deaths of hogs recently.

PhilMaize President Roger V. Navarro said they have been appealing to the Bureau of Plant Industry (BPI) to monitor and test imported animal feed raw materials to ensure that they are not infected with animal diseases.

Navarro said they have received reports that some importers are bringing in imported corn from Myanmar and Cambodia. The latter was among those where African Swine Fever (ASF) was detected earlier, but Myanmar’s reported cases only surfaced recently.

Based on reports they received, Navarro said that the corn from Myanmar is actually from Vietnam, with Myanmar only serving as a transhipment for exports.

Vietnam is among the hardest

hit by ASF, with total deaths—including those culled—of over 4 million hogs today.

“The government should check these reports. Besides, it would be easy to determine if indeed the corn from Myanmar are from Vietnam,” he told the BusinessMirror.

“If the corn from Myanmar is discovered to be a genetically modified variety or contains GM traits, then they are from Vietnam since Myanmar is not growing GM corn,” he added.

Navarro said the government should also check other animal feed raw materials aside from corn for possible contamination or infection of animal virus.

The government, Navarro added, could also trace where the imported animal feed products went and try to figure out its connection with the reported unusual hog deaths in many backyard farms.

“Objectively, the government must trace which areas were supplied with those imported feed products. We just want to ensure that these products did not cause the unusual hog deaths,” he said.

Scientific journal articles have See “Hog deaths,” A2

www.businessmirror.com.ph

Companies BusinessMirror

Monday, August 26, 2019

B1

Kepwealth’s allocation for local small investors all taken up

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By VG Cabuag

@villygc

HE Philippine Stock Exchange (PSE) Inc., the operator of the country’s equities market, said the allocation for the local small investors (LSI) for the initial public offering (IPO) of Kepwealth Property Philippines Inc. (KPPI) was almost taken up entirely.

In its report, the LSI allocation was 94 percent subscribed, an improvement from the previous offerings of just an average of 12 percent, a staggering 683-percent increase.

The PSE’s LSI program requires companies conducting an IPO to allocate 10 percent of shares they will

‘Ber’ months signal start of ‘struggle’ for listed firms

T

HE “-ber” months are about to start and for many publicly listed Philippine firms, it’s the start of the season for preparing annual reports.

“It’s a struggle that publicly listed companies [PLCs] and other organizations face every year: the need to write a crisp, concise, and compliant annual report that communicates to all stakeholders,” said Sheila Samonte-Pesayco, an awardwinning economic and investigative journalist before setting up Writers Edge, a 16-year-old editorial services firm that specializes in preparing annual, sustainability and integrated reports for companies. “Starting 2020, the task will even be more daunting,” she said.

Last April, the Securities and Exchange Commission unveiled its Sustainability Reporting Guidelines for PLCs as part of initiatives to encourage improved business practices. Unlike annual reports, which focus on the yearly financial performance of the company, sustainability reports are meant to detail the economic, environmental and social impact of a firm’s activities. The SEC wants PLCs to submit these reports, in addition to their regular annual financial reports, on a “comply or explain” basis beginning 2020.

In issuing SEC Memorandum Circular 4, Series of 2019, the SEC said: “Sustainability reporting has emerged as a common practice for companies globally, with 93 percent of the world’s largest 250 companies and 75 percent of the top 100 companies in 49 countries reporting on sustainability. In the Philippines, less than 22 percent of PLCs have published a report on sustainability impacts and performances.”

To guide PLCs and other organizations in the preparation of their annual reports and sustainability reports, Writers Edge is holding a two-day seminar workshop on September 10 and 11, 2019, at the Insular Life Makati Building on Ayala Avenue corner Paseo de Roxas, Makati City. The workshop, cosponsored by auditing firm P&A Grant Thornton and Insular Life, are for those involved in the preparation and production of their company’s, government agency’s or nonprofit organization’s annual and sustainability reports, whether in the areas of corporate communications, regulatory compliance, risk management, investor relations, among others.

The first day of the seminar workshop will cover the basic principles of annual and sustainability reporting. A panel of speakers from an investment house, a major auditing firm and business media will discuss what they look for in reading these reports and share their observations on the quality of company disclosures. Representatives from the SEC and the Bangko Sentral ng Pilipinas will present the latest guidelines and future initiatives on annual and sustainability reporting. Another session will showcase the best practices of three companies that have already reaped local and international awards for their annual and sustainability reports.

be offering to the public to LSIs. Investors may participate in the LSI program by subscribing to a minimum board lot up to a maximum of P100,000.

Kepwealth was the first IPO to use the Exchange’s new online LSI subscription platform called PSE Elec-

tronic Allocation System (PSE EASy).

“We are optimistic that upcoming IPOs will also see a brisk take-up from LSIs, especially since the KPPI IPO proved to be very profitable for the small investors, with KPPI rising by 42 percent on its first trading day from its IPO price,” PSE President and CEO Ramon S. Monzon said.

Prior to the launch of PSE EASy, investors who wish to subscribe to LSI shares during IPOs had to personally go to the designated kiosks in the PSE office or in some Metro Manila malls, present the required identification cards to obtain a share subscription form, fill it out and give it to their stockbroker for acknowledgment and then bring it back to the kiosk for payment.

These tedious requirements discouraged a lot of small investors from investing in IPOs, especially since

the maximum amount they could subscribe to at that time was limited to just P25,000.

With PSE EASy, after a one-time online registration process, LSIs may subscribe to IPO shares whenever a company debuts in the stock market.

The PSE also increased the maximum limit for an LSI to P100,000.

“The favorable result of PSE EASy’s pilot run attests to the efficiency of the online platform as it saw the participation of local small investors from 25 provinces across 12 regions in the KPPI IPO. PSE EASy is definitely a successful, concrete step toward financial inclusivity which is an objective not just of PSE but also our regulators. This is the first IPO where investors from as far north as Ilocos Norte to investors down south in Zamboanga invested in an IPO,” Monzon said.

PSALM sells Bauang property to La Union govt for ₧524M

T

HE Power Sector Assets and Liabilities Management Corp. (PSALM) has sold its Bauang property to the Provincial Government of La Union (PGLU) for P524 million.

The state firm said it successfully achieved another milestone in its privatization efforts as it concludes the sale of parcels of land underlying the Bauang Diesel Power Plant.

The Bauang property is located at Payopoc Sur, Bauang, La Union, and has an aggregate area of 261,349.32 square meters.

The property, sold on an “as-iswhere-is” basis, was purchased by PGLU for P524,211,660 by way of a government-to-government trans-

action following PSALM’s policies on transfer of real-estate assets.

“This undertaking is a mutually beneficial activity for PSALM and the Provincial Government of La Union.

On the part of the Provincial Government, it will be able to now pursue their provincial development goals and plans relative to this valuable piece of property.

“For PSALM, the sale of the property will help us raise much needed revenues to settle our financial obligations assumed from the National Power Corp.,” PSALM President and CEO Irene Joy Besido-Garcia said.

PSALM officially transferred ownership of the asset consisting

of 92 lots to PGLU through the signing of the Deed of Transfer on August 14.

PSALM is the agency mandated

by Republic Act 9136 or the Electric Power Industry Reform Act (Epira) of 2001 to handle the sale of the remaining state-power assets and the financial obligations of National Power Corp.

It is projected that with PSALM’s continuous privatization efforts including the sale of real-estate assets, collection of universal charge and power generation proceeds, its financial obligations will further decrease substantially when the corporate life of PSALM ends in 2026. Lenie Lectura

Southeast Asia start-up RedDoorz raises $115M

R

EDDOORZ, Southeast Asia’s largest and fastest-growing hotel management and booking platform, has announced it raised $70 million as first close of a larger Series C funding.

Leading the round is Asia Partners, a Singapore-based growth equity firm founded by senior executives with an exceptional track record in scaling multibillion tech companies (Sea, Naspers, Bukalapak) globally and across the region. RedDoorz is the first portfolio company of Asia Partners, which focuses on growth-stage investments in technology and technology-enabled companies in Southeast Asia.

Two other leading funds, Rakuten Capital and Mirae AssetNaver Asia Growth Fund, joined the round. Existing investors Qiming Venture Partners and International Finance Corp. (IFC) also reiterated their support by participating in the round.

The start-up’s Series C investment comes shortly after RedDoorz announced its Series B funding of $45 million in April 2019. The new funding brings the total amount of funds raised by the company to approximately $140 million since its launch in 2015. RedDoorz is now among the best-funded start-ups in Singapore and, specifically, is the best funded company in its category of online affordable accommodations across Southeast Asia.

Amit Saberwal, founder and CEO of RedDoorz said, “We are thrilled to welcome a new group

of seasoned investors joining us in our mission to build the leading tech-enabled affordable travel brand in Southeast Asia. This new round is a testament to our strong business growth and market leadership position we were able to build during the last few years. RedDoorz operates in some of the most dynamic markets in the world and we see tremendous opportunities to continue growing our platform and expanding into new markets.”

“We believe we are on the right track to create the next tech unicorn in Southeast Asia and with the backing of our new investors, who bring deep expertise building large successful tech and digital businesses in our region, we are well positioned to fully execute on our strategy and mission.”

RedDoorz will use the new funds to launch in new markets and scale technology, customer experience projects, people and marketing investments to further strengthen its leadership position in the region. A significant portion of the latest proceeds will be used to build a second engineering hub in Vietnam to complement the current regional tech hub based out of India.

The company also plans to ramp up its hotel staff and quality training programs across all properties in Singapore, Indonesia, Vietnam and the Philippines as it helps employ approximately 10,000 people across the region through its hotel partners.

In the Philippines, RedDoorz has already created more than

1,000 jobs since the company launched in the country in 2018.

The company grew its network of properties to more than 150 hotels across 10 cities in the first quarter of 2019, including locations in Metro Manila, Baguio, Pampanga, Tagaytay, Palawan, Cebu, Iloilo, Bacolod and Davao.

RedDoorz has also recently added Bohol, General Santos City, Roxas City and Caticlan as new destinations that can now be explored by the Filipino consumers. These will be followed by new launches in Boracay Island, Antique, Capiz, Negros Occidental, Dumaguete and Tacloban City by end-2019.

The lead investor for this round, Asia Partners, was launched in 2019 by a team of senior executives involved in two of emerging Asia’s most notable exits: the largest IPO (initial public offering) for a Southeast Asia start-up (Sea Ltd.) and the largest tech cash exit in Asia’s history (Flipkart’s sale to Walmart).

Oliver M. Rippel and Nicholas A. Nash, cofounders and partners of Asia Partners said, “Our mission is to help build and mentor Southeast Asia’s next generation of tech unicorns. Our team has a unique combination of investing and operating skills to help companies such as RedDoorz become true market leaders. We have every confidence in the team’s ability to capture the enormous opportunity which exists in the affordable travel segment. This investment affirms our belief in RedDoorz’s vision and plan for the region.”

NOW Telecom gears up to become 4th telco in PHL–analysts

By Roderick L. Abad @rodrik_28 Contributor

N

OW Telecom recently executed a memorandum of understanding (MOU) with Singapore-based HyalRoute Group, through local subsidiary Philippine Fiber Optic Cable Network Ltd. (PFOCN), which industry analysts see as the former’s initiative to become the country’s fourth telecommunications company.

The multinational is investing between $1 billion and $2 billion to roll out a fiber optic cable network in the Philippines. This will then be rented out to telcos, Internet service providers and cable television operators, among others.

In a previous regulatory filing, NOW Telecom’s affiliate and listed firm NOW Corp. disclosed that PFOCN and NOW Telecom will tie up on the commercial aspects of shared fiber infrastructure assets across the nation, including access to fiber optic cores and other related facilities.

According to NOW Telecom, both parties intend to collaborate on the fiber optic cable network rollout that will beef up and support NOW’s further expansion.

Newly elected NOW Telecom President Rodolfo Pantoja said in a chance interview that their tie-up with HyalRoute and PFOCN will accelerate their deployment on a national scale via the availability of a nationwide transmission backbone.

He explained that when coupled with their fixed wireless capability for the last mile and using spectrum exclusive to it, NOW Telecom can reach consumers faster than a pure fiber-based broadband provider at a fraction of their capital expenditure. This will result in more compelling broadband offers, he added.

The top executive said their collaboration will open to NOW Telecom underserved markets that are now prohibitive due to the huge capital expenditures needed.

The presence of a provider-agnostic fiber operator solves one of the key infrastructure elements of NOW’s 5G or fifth-generation wireless technology plan and allows it to launch truly disruptive 5G offerings, he noted.

“The nationwide backbone [of HyalRoute-PFOCN] allows us to replicate our success in Metro Manila with guaranteed throughput broadband services that continue to resonate with enterprises especially those where availability of reliable broadband is missioncritical,” Pantoja said.

NOW Telecom earlier revealed plans to offer 5G that will allow the delivery of up to 20 gigabit per second speed to enterprises and homes.

The company’s president said

5G will enable high wireless bandwidth in low latency scenarios, allowing for further complex technologies to exist.

“5G is necessary for the Internet of Things to thrive. With cloud computing, you can now decentralize the business of telecommunications,” Pantoja said.

DICT open to 4th, 5th telco

WITH its impending partnership with HyalRoute and PFOCN, analysts say that NOW Telecom is in the best position to be the country’s fourth telco.

Information and Communications Technology Secretary Gregorio Honasan has said that he was open to a fourth or even a fifth telco.

The right to become the countr y’s third telco, after PLDTSm a r t Com mu n ic at ion s a nd Globe Telecom, was won by China Telecom-backed Dito Telecommunity, formerly Mislatel consortium.

T he DIC T, whic h has a lso signed a memorandum of agreement with PFOCN, said in an earlier statement that the latter’s investment will address the need to extend the fiber optic network to rural areas, which local telcos cannot cover at the moment because these areas are considered nonviable.

Media reports quoted HyalRoute Chairman Huang Xinglong saying that this investment project will greatly improve the status of communication infrastructure, particularly fiber network, while improving broadband penetration rate and speed to meet the needs of the general public.

The Philippine rollout of PFOCN will be done in phases starting this year until 2028. The company will be giving preferential rates to the government for its free Wi-Fi and National Broadband Program.

The rest of its capacity will be leased to other players.

ALT Global Solutions, one of the 24 telecommunications tower-sharing companies that have signed an MOU with the DICT, reported two months ago that it has also inked a pact with NOW Telecom for the prov ision of shareable telecom infrastructure.

In a previous media interview, ALT Global Director Sherwin Hing said that while they have so far signed with NOW Telecom, they are talking to all three major mobile network operators.

For him, a partnership with ALT Global will allow telcos to utilize their shared tower infrastructure to enable rapid deployment of cellular equipment, and in some areas, increase cellular density in preparation for 5G. A cellular mobile telephone system licensee, NOW Telecom has a 25-year congressional franchise to provide telecommunications services all over the Philippines.

B2

Companies BusinessMirror

Monday, August 26, 2019

PSE STOCK QUOTATIONS

August 23, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

57.05 54.8 148.1 89 25.9 11.7 71.4 13.1 20.75 44.85 57.9 111.3 27.5 189.1 59.05 1.11 2.06 18.2 4.85 1.21 0.435 0.92 185.1 1.11

57.5 57 148.2 89.9 25.95 11.76 72 13.2 22.95 44.9 57.95 119.9 28 189.8 59.75 1.2 2.18 18.6 4.86 1.29 0.445 0.94 186.1 1.15

57.05 57 147 88.45 26.2 11.58 71.65 13.1 20.7 45 57.85 115 27.3 187.4 59.05 1.12 2.08 18.2 4.91 1.13 0.43 0.91 187.1 1.12

57.05 57 148.2 89.95 26.2 11.78 72 13.2 20.7 45.1 58.05 121.9 28 191 59.1 1.21 2.08 18.2 4.91 1.29 0.45 0.94 189.4 1.12

57 54.8 144.3 87.25 25.85 11.58 70.3 13.1 20.7 44.85 57.85 115 27.25 185.2 59 1.12 2.06 18.2 4.74 1.13 0.43 0.91 185 1.11

57.05 54.8 148.2 89.9 25.9 11.7 72 13.1 20.7 44.85 57.95 120 28 189.8 59.05 1.21 2.06 18.2 4.85 1.29 0.435 0.94 189.4 1.11

1170 6280 2319740 1722970 313900 223300 1152240 111700 200 326100 2950 170 9200 566160 122490 183000 4000 28500 550000 24000 100000 227000 2190 126000

66741 357938 339065524 153719018.5 8170255 2598542 82606959.5 1463370 4140 14648525 171053 20102 253910 106715772 7227051.5 205710 8280 518700 2646750 28670 44650 209060 406657 140110

INDUSTRIAL

-1141 -1118 -16396790 -15716390 -4821700 -129976 25660678.5 -12636980 -63759 9231549 4475621 -3630 -48650 -3470 -7576 -

ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE BOGO MEDELLIN CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP 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 EUROMED LMG CHEMICALS PRYCE CORP GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

1.31 37 0.232 26.45 83.2 360 22.2 5.11 4.24 2.81 11 35.2 7.01 14.92 90.35 15.5 14.04 5.81 8.9 7.24 96.9 0.67 50.85 229.6 8.2 13.56 0.184 1.8 12.4 1.69 5.08 2.21 0.125 170 1.07 2.45 75.4 84.1 3.06 5.36 15.1 9.51 14.72 18.66 8.58 0.99 1.13 2.02 1.63 4.7 5.1 1.88 8.01 1.48 1.03 10.3

1.34 37.1 0.239 26.55 83.25 362 22.45 5.15 4.3 2.83 11.28 35.5 7.15 15 109 15.98 14.38 5.9 8.94 7.25 97.5 0.68 51 230 8.79 13.58 0.194 1.81 12.44 1.7 5.09 2.31 0.132 171 1.08 2.55 78 85.5 3.07 5.69 15.12 9.65 14.74 18.68 9.15 1.03 1.15 2.05 1.74 4.8 5.15 1.9 8.02 1.53 1.08 10.4

1.31 35.95 0.233 26.75 84.3 357 22.15 5.27 4.4 2.85 10.8 35.7 7.15 14.96 109 15.52 14.2 5.9 9 7.25 96.7 0.67 50 225 8.46 13.84 0.183 1.77 12.4 1.77 5.09 2.2 0.127 170 1.08 2.45 76.3 89.45 2.95 5.31 15.16 9.5 14.76 18.52 9.1 1.05 1.14 2.02 1.63 4.78 6.78 1.9 8 1.54 1.1 11.4

1.31 37 0.242 26.75 84.3 366 22.45 5.27 4.4 2.93 11.28 35.8 7.2 15.24 109 15.98 14.2 5.9 9 7.3 98 0.68 51.95 230 8.46 13.84 0.184 1.85 12.54 1.77 5.09 2.2 0.127 171.6 1.09 2.45 78 89.45 3.07 5.7 15.16 9.65 14.76 18.68 9.23 1.05 1.19 2.02 1.63 4.94 7.38 1.96 8.1 1.54 1.12 11.4

1.31 35.4 0.232 26 83.2 357 22 5.11 4.2 2.79 10.8 34.65 7 14.9 109 15.52 14.02 5.8 8.9 7.24 95.8 0.65 49.95 222 8.21 13.52 0.183 1.73 12.4 1.7 5.09 2.2 0.124 166.1 1.04 2.45 74.4 82.05 2.88 5.31 15.06 9.26 14.5 18.52 8.56 0.97 1.1 2.02 1.63 4.7 4.9 1.87 8 1.48 1.03 10

1.31 37 0.239 26.55 83.25 362 22.45 5.11 4.2 2.81 11.28 35.5 7.15 15 109 15.98 14.04 5.9 8.9 7.25 97.5 0.68 50.85 230 8.21 13.56 0.184 1.81 12.4 1.7 5.09 2.2 0.125 171 1.07 2.45 75.4 85.5 3.06 5.7 15.1 9.51 14.74 18.66 9.23 0.97 1.13 2.02 1.63 4.75 5.1 1.9 8.01 1.48 1.08 10.4

1000 1599200 940000 998200 101400 194890 521900 2307800 49000 23160000 76100 697700 98400 1541200 20 1100 800600 26800 498400 2762100 118880 649000 254370 603580 6800 127300 490000 14714000 186300 3125000 1000 2000 1080000 1517430 16698000 16000 18290 30550 8823000 12000 54700 56600 1070400 489700 12100 968000 2917000 59000 5000 184000 12072200 2741000 79800 74000 293000 581500

1310 58534070 219240 26410595 8455329 70694548 11547195 11936990 210880 66112430 855500 24493980 693630 23342864 2180 17118 11263644 157285 4455978 20027162 11565192.5 430360 12837099.5 136646342 55883 1735858 89750 26307140 2317558 5391810 5090 4400 134370 258357297 17692140 39200 1374953 2570314 26123670 67604 825914 531508 15665816 9130420 106177 965770 3278930 119180 8150 893920 76379519 5218520 639153 110610 313560 6184646

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

0.77 13.26 948 51.1 12.24 3.54 7.01 0.66 1.3 1.31 6.8 9.09 13.6 0.222 853 6 67.75 5.03 0.48 4.61 13.5 0.59 4.98 0.038 1.34 1.38 991 173.6 0.77 248 0.227 0.23

0.78 13.28 955.5 51.3 12.26 3.56 7.08 0.68 1.31 1.32 6.83 9.22 13.78 0.23 864 6.27 68.8 5.5 0.495 4.64 13.62 0.61 4.99 0.039 1.36 1.41 1004 175 0.79 251.4 0.236 0.231

0.82 14.24 932.5 50.5 12.76 3.62 7 0.64 1.29 1.29 6.8 9.06 13.8 0.235 850 6 67.4 6.99 0.495 4.65 13.58 0.58 5.05 0.039 1.39 1.41 989 175 0.76 242 0.23 0.22

0.82 14.6 955.5 51.75 12.8 3.62 7.09 0.68 1.32 1.31 6.83 9.22 13.8 0.235 866.5 6.28 68.8 6.99 0.495 4.8 13.62 0.61 5.07 0.039 1.4 1.41 1004 176 0.82 254 0.236 0.23

0.76 13.08 922.5 50.05 12.06 3.5 7 0.64 1.28 1.29 6.7 9.01 13.5 0.222 850 6 65.65 3.8 0.475 4.6 13.46 0.58 4.9 0.038 1.31 1.38 987 173.1 0.76 242 0.227 0.22

0.77 13.26 955.5 51.3 12.26 3.54 7.01 0.68 1.3 1.31 6.83 9.22 13.6 0.233 864 6.28 68.8 5.5 0.49 4.61 13.62 0.61 4.98 0.038 1.36 1.41 1004 175 0.79 251.4 0.236 0.23

43164000 113900 447380 1099230 19819300 3861000 33400 344000 6977000 499000 238600 3960200 537500 80000 93980 700 2033770 28100 130000 1218000 331700 660000 24356800 5200000 757000 103000 313215 171660 684000 17740 3020000 2320000

33749300 167680 1534584 -40080 423306665 37697695 56222561 6972613.5 243504490 -125571700 13661020 10420 233846 231840 136000 9036350 649550 310700 1605958 -162260 36,058,078( 12,488,151.0001) 7312016 -7192640 18120 80575930 -6371645 4228 -628 138037119 25834580 152303 63600 5691330 -2578380 4502014 -1124632 388190 121478634 1752592 199600 1026660 144010 56250 311659950 -73284020 29991236 -1006228 531560 4463332 -3659924 693730 522790 -

HOLDING & FRIMS

18157770 2170590 274565 27630234 -1391905 -1106147 5188860 -36460 -10013830 3562 2061946 2643550 -3619955 -19562612 -7294754 4405768 5278106 8220 68180 494170 1395966 70940 -37617517 -8051960 36750 -17239 4512010 -143356 -129047 -7438162 7845300 3330 3260 -9202512 -775480 118197 10400 -48614

AboitizPower’s subsidiary buys Mekong Wind for $46M

A

By Lenie Lectura

@llectura

BOITIZ Power International, a wholly-owned subsidiary of Aboitiz Power Corp., is buying Vietnam’s Mekong Wind Pte. Ltd. for $46 million.

The acquisition sets the tone for AboitizPower’s expansion in the international market. “We have announced our intentions to go international some time back and we have been prudent in looking for the right opportunity that will bring the best value for the company and our

shareholders. This is such a transaction,” AboitizPower President and Chief Executive Officer Erramon I. Aboitiz said Friday.

AboitizPower signed a share purchase agreement for the acquisition of 100-percent ownership of Mekong Wind from Armstrong Southeast

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.4 5.17

18.08 5.29

18.28 5.29

18.3 5.29

17.4 5.29

17.4 5.29

245500 100

4312706 529

WARRANTS LR WARRANT

1.52

-3104242 -

1.56

1.52

1.55

1.51

1.55

81000

123590

-

ITALPINAS 7.9 KEPWEALTH 15 XURPAS 0.94

7.95 15.04 0.95

6.9 23 0.96

8.23 27.35 0.97

6.86 13.02 0.92

7.9 15 0.94

7674300 43345800 5292000

59277099 892328393 4999280

-137182 1208479 -1327880

FIRST METRO ETF

118.7

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 118.2

117

118.2

116.8

118.2

6740

789172

-11680

Asia Clean Energy Fund Pte. Ltd. The acquisition is subject to customary closing conditions and is expected to complete in the fourth quarter of 2019.

The acquisition captures all legal and economic interest in Mekong Wind, which, in turn, holds a 99-percent direct interest in Dam Nai Wind Power, which owns and operates the 39.4-megawatt (MW) onshore wind power facility in Ninh Thuan Province, Southern Vietnam.

Ninh Thuan Province boasts some of the most attractive sites for wind energy in the country.

Dam Nai Wind is one of the first wind power projects in Vietnam to have been successfully brought online with commercial operations

having commenced in late 2017.

“We are excited for this opportunity not only to expand beyond the Philippines but to also bring our experience in the power generation sector, especially in the renewableenergy space, to Vietnam, said AboitizPower Chief Operating Officer Emmanuel V. Rubio.

“We are proud of what we have done with our Cleanergy brand in the Philippines and we will bring the same level of expertise and dedication to the Vietnam market,” Rubio added. AboitizPower, together with its partners, generates some 1,200 MW of clean and renewable energy from its portfolio of hydro, geothermal, and solar power plants, forming its Cleanergy brand.

Hyundai posts near-flat 7-mo sales, but upbeat about year-end recovery

T

HE local distributor of Hyundai models suffered from a sales decline of over 35 percent in July on double-digit slumps in the passenger car (PC) and light commercial vehicle (LCV) segments.

Hyundai Asia Resources Inc. (Hari) reported on Friday its sales from January to July improved 1.6 percent to 19,790 units, from 19,478 units during the same period last year. However, the firm failed to disclose in the report its monthly performance, which it usually does.

Upon closer look at available records, the BusinessMirror computed Hari’s sales in July likely declined 35.21 percent to 2,136 units, from 3,297 units during the same month last year.

By segment, sales of PCs contracted 32.86 percent to 1,107 units, from 1,649 units, while sales of LCVs fell 41.41 percent to 955 units, from 1,630 units. The commercial vehicle (CV) bracket, which accounts for just a minimal portion of sales, was the lone bright spot for Hari, growing

PROPERTY

ARTHALAND CORP 0.9 0.92 0.9 0.93 0.88 0.92 7150000 6365370 716970 ANCHOR LAND 9.9 10.4 10.4 10.4 10.4 10.4 2000 20800 AYALA LAND 48.3 48.9 48.45 49 47.75 48.9 12861400 622555250 -125509125 ARANETA PROP 1.91 1.92 1.9 1.91 1.87 1.91 453000 854890 -9350 BELLE CORP 2.19 2.2 2.15 2.21 2.15 2.19 295000 641380 -56550 A BROWN 0.78 0.8 0.79 0.8 0.78 0.79 503000 396090 CITYLAND DEVT 0.85 0.88 0.89 0.89 0.88 0.88 26000 23100 CROWN EQUITIES 0.225 0.226 0.226 0.226 0.226 0.226 710000 160460 CEBU HLDG 5.85 6.16 5.83 6.16 5.83 6.16 200 1199 CEB LANDMASTERS 4.71 4.73 4.78 4.79 4.7 4.71 724000 3451870 -2128410 CENTURY PROP 0.57 0.58 0.58 0.58 0.56 0.58 19152000 11012460 -353770.0003 CYBER BAY 0.4 0.41 0.385 0.43 0.385 0.4 4410000 1785150 DOUBLEDRAGON 23.6 24 23.6 24 23 24 1196300 28147110 23219065 DM WENCESLAO 8.99 9 9.41 9.41 9 9 2426000 22286328 -15360908 EMPIRE EAST 0.455 0.465 0.455 0.465 0.45 0.465 210000 94800 FILINVEST LAND 1.58 1.59 1.67 1.67 1.59 1.59 83070000 133767100 -76714460 GLOBAL ESTATE 1.25 1.27 1.27 1.27 1.24 1.27 1216000 1531990 8990 HLDG 15.46 15.48 15.5 15.5 15.46 15.46 996900 15437110 -580926 PHIL INFRADEV 1.32 1.33 1.38 1.4 1.31 1.33 3419000 4584280 22790 CITY AND LAND 0.74 0.76 0.77 0.77 0.73 0.76 59000 43980 28520 MEGAWORLD 4.79 4.8 4.85 4.93 4.74 4.8 61611000 295391520 -88506580 MRC ALLIED 0.295 0.3 0.305 0.305 0.295 0.295 23840000 7110850 -42150 PHIL ESTATES 0.45 0.465 0.45 0.48 0.45 0.465 4350000 2006800 -9200 PRIMEX CORP 2.02 2.03 2.01 2.03 1.99 2.03 772000 1544650 ROBINSONS LAND 24.4 24.6 23.9 24.85 23.85 24.6 4086700 99319455 -17694745 PHIL REALTY 0.38 0.385 0.38 0.38 0.38 0.38 10000 3800 ROCKWELL 2.33 2.35 2.41 2.41 2.33 2.35 130000 308590 SHANG PROP 3.21 3.3 3.3 3.3 3.3 3.3 60000 198000 STA LUCIA LAND 2.34 2.38 2.39 2.39 2.33 2.38 1023000 2412850 SM PRIME HLDG 34.8 34.9 34.7 35 34.45 34.8 7672700 266930820 -14084685 STARMALLS 5.58 5.81 5.72 5.88 5.56 5.81 85900 482817 SUNTRUST HOME 0.88 0.91 0.98 0.99 0.88 0.91 4472000 4133040 -325850 VISTA LAND 7.41 7.42 7.45 7.47 7.37 7.42 7032700 52217710 -22613072

SERVICES ABS CBN 18.56 18.6 20.15 20.15 18.52 18.56 300900 5789017 GMA NETWORK 5.33 5.34 5.31 5.35 5.29 5.34 54100 287628 MANILA BULLETIN 0.45 0.47 0.47 0.47 0.45 0.45 50000 23300 MLA BRDCASTING 9.01 15.14 15.16 15.16 15.16 15.16 100 1516 GLOBE TELECOM 1894 1899 1890 1900 1890 1899 47525 90232180 1507935 PLDT 1147 1149 1128 1156 1116 1149 146335 166597005 19050 APOLLO GLOBAL 0.045 0.047 0.045 0.047 0.045 0.047 4200000 193500 IMPERIAL 1.83 1.94 1.86 1.86 1.83 1.83 110000 202920 ISLAND INFO 0.107 0.108 0.108 0.108 0.107 0.107 900000 96800 ISM COMM 5.04 5.07 4.72 5.25 4.52 5.04 7259000 34931470 365980.0001 JACKSTONES 2.8 3.07 2.9 3.09 2.82 3.07 20000 58130 NOW CORP 2.13 2.14 2.14 2.16 2.1 2.13 1482000 3136890 12720 TRANSPACIFIC BR 0.345 0.35 0.34 0.36 0.335 0.35 14020000 4864650 -44200 PHILWEB 3.05 3.06 3.09 3.09 2.95 3.05 2596000 7790680 -41210 2GO GROUP 10.14 10.2 10.5 10.5 10 10.2 19800 205050 ASIAN TERMINALS 18.5 19 18.5 18.5 18.5 18.5 600 11100 11100 CHELSEA 7.15 7.16 6.4 7.25 6.22 7.15 5722600 39094957 -1042664 CEBU AIR 96.2 96.25 95.5 96.9 94.8 96.25 407730 39269712 27462392 INTL CONTAINER 132.3 132.4 129.9 132.3 128.9 132.3 1657610 216744356 35041153 LBC EXPRESS 14 14.6 14.6 14.6 14.6 14.6 300 4380 LORENZO SHIPPNG 0.84 0.87 0.86 0.86 0.85 0.85 352000 300750 MACROASIA 18.8 19 18.78 19 18.78 19 19200 361082 METROALLIANCE A 1.2 1.4 1.42 1.42 1.42 1.42 4000 5680 PAL HLDG 8 8.02 8.1 8.1 8 8 61900 498828 37600 HARBOR STAR 1.57 1.58 1.65 1.65 1.56 1.59 1353000 2150410 7950 ACESITE HOTEL 1.51 1.53 1.47 1.53 1.47 1.53 4000 6000 BOULEVARD HLDG 0.058 0.059 0.058 0.058 0.057 0.058 5740000 329730 WATERFRONT 0.67 0.68 0.67 0.68 0.66 0.68 1070000 714620 161040 STI HLDG 0.66 0.67 0.68 0.68 0.66 0.66 3654000 2436270 -486560 BERJAYA 2.25 2.35 2.32 2.35 2.24 2.35 401000 913330 BLOOMBERRY 10.12 10.18 10.44 10.44 10.12 10.12 6102800 62084218 -25930340 PACIFIC ONLINE 2.7 2.74 2.75 2.75 2.64 2.7 139000 376000 10720 LEISURE AND RES 3.15 3.18 3.2 3.2 3.13 3.18 314000 994420 MANILA JOCKEY 3.03 3.14 3 3.03 3 3.03 28000 84660 PH RESORTS GRP 4.3 4.68 4.62 4.62 4.62 4.62 2000 9240 PREMIUM LEISURE 0.67 0.68 0.68 0.69 0.67 0.68 1997000 1353900 -202640 TRAVELLERS 5.46 5.47 5.46 5.46 5.45 5.46 3905800 21304781 -54600 METRO RETAIL 2.4 2.44 2.45 2.45 2.4 2.4 1712000 4137160 -41500 PUREGOLD 44 44.3 44.3 44.3 43.5 44 1513400 66520350 -11600025 ROBINSONS RTL 77.5 80.5 77 80.5 76.9 80.5 82970 6612045 -567370 SSI GROUP 2.79 2.8 2.7 2.8 2.68 2.79 5225000 14404870 4449430 WILCON DEPOT 16.6 16.66 16.62 16.66 16.54 16.66 1258500 20888782 13336798 APC GROUP 0.58 0.59 0.54 0.62 0.53 0.59 48985000 28820980 -42500 EASYCALL 8.22 8.35 8.6 8.6 8 8.22 68900 568824 GOLDEN BRIA 413.8 426 413 426 413 426 360 151246 IPM HLDG 5.08 5.2 5.2 5.2 5.2 5.2 400 2080 PAXYS 2.84 2.99 2.9 2.9 2.84 2.84 263000 751480 PRMIERE HORIZON 0.49 0.495 0.5 0.5 0.48 0.49 16465000 8033885 315060 SBS PHIL CORP 9.03 9.3 9.09 9.09 9.03 9.03 10000 90584

MINING & OIL ATOK 11.6 12.58 12.68 12.68 11.54 12.58 8200 96956 APEX MINING 1.25 1.26 1.28 1.29 1.21 1.25 11143000 13956500 -217000 ABRA MINING 0.0016 0.0017 0.0017 0.0017 0.0016 0.0017 127000000 215700 COAL ASIA HLDG 0.27 0.28 0.27 0.27 0.27 0.27 110000 29700 CENTURY PEAK 2.73 2.76 2.72 2.76 2.72 2.76 54000 148110 DIZON MINES 7.76 7.86 7.88 7.88 7.74 7.85 1200 9373 FERRONICKEL 1.42 1.43 1.43 1.45 1.42 1.43 1085000 1555520 148750 GEOGRACE 0.199 0.204 0.207 0.207 0.2 0.204 410000 82280 LEPANTO A 0.11 0.112 0.112 0.112 0.11 0.112 1100000 122050 LEPANTO B 0.112 0.114 0.112 0.114 0.111 0.114 3450000 392310 -294120 MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 3900000 41500 MARCVENTURES 1.01 1.05 1.09 1.09 1.01 1.05 348000 355740 89890 NIHAO 0.98 1 1.03 1.04 0.98 1.03 5000 5100 NICKEL ASIA 2.5 2.51 2.6 2.6 2.46 2.5 3227000 8067130 -264680.0003 OMICO CORP 0.46 0.49 0.465 0.465 0.455 0.455 170000 77850 ORNTL PENINSULA 0.81 0.82 0.81 0.82 0.81 0.82 356000 289810 PX MINING 3.7 3.75 3.9 3.9 3.69 3.7 1110000 4162430 192460 SEMIRARA MINING 22.65 22.8 22.8 22.95 22.5 22.65 297000 6730370 1545220 UNITED PARAGON 0.0061 0.0065 0.0062 0.0062 0.0062 0.0062 3000000 18600 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.011 8500000 100300 ORNTL PETROL B 0.011 0.013 0.012 0.013 0.012 0.013 3300000 42800 42800 PHILODRILL 0.011 0.012 0.011 0.011 0.01 0.011 134900000 1395900 PHINMA PETRO 7.84 7.88 10.8 13.4 7.7 7.84 48666300 528196485 1436198 PXP ENERGY 12.72 12.74 13.76 13.76 12.46 12.74 4034100 52296796 4451354

PREFFERED

HOUSE PREF A 96.5 99 100 100 100 100 640 64000 AC PREF B1 496.2 500 499.4 500 499.4 500 5050 2524976 AC PREF B2 499 503 500 500 500 500 20 10000 DD PREF 101 101.5 101.1 101.5 101 101 17000 1724992 SMC FB PREF 2 990 1008 1008 1008 1008 1008 20 20160 FGEN PREF G 105.5 107 107 107 105.5 105.5 29920 3157040 FPH PREF C 436 500 499 499 499 499 160 79840 GLO PREF P 505 509.5 505 509.5 505 509.5 4660 2353525 GTCAP PREF A 980 995 1000 1000 1000 1000 10 10000 GTCAP PREF B 980 999 980 1000 980 1000 3240 3178530 LR PREF 0.99 1 0.99 1 0.99 1 3000 2980 MWIDE PREF 101.1 102 101.1 101.1 101.1 101.1 10 1011 PNX PREF 3B 107 109.5 109.5 109.5 109.5 109.5 10 1095 PCOR PREF 2B 1020 1040 1020 1020 1020 1020 450 459000 PCOR PREF 3A 1031 1040 1030 1030 1030 1030 480 494400 PCOR PREF 3B 1035 1044 1040 1040 1030 1030 50 51700 SMC PREF 2B 76.05 76.9 76 76 76 76 250 19000 SMC PREF 2C 78.45 78.5 78.5 78.5 78.5 78.5 42940 3370790 -39250 SMC PREF 2D 75.5 75.6 75.5 75.5 75.45 75.5 25000 1887470 SMC PREF 2E 75.95 76.1 75.95 75.95 75.95 75.95 8000 607600 SMC PREF 2F 76.95 77.95 76.9 76.95 76.9 76.95 16510 1269944.5 SMC PREF 2G 75.7 76.5 75.75 75.75 75.7 75.7 2610 197577.5 SMC PREF 2H 75.1 76.4 75.05 75.05 75.05 75.05 3400 255170 SMC PREF 2I 75.5 76.4 75.7 76.4 75.7 76.4 7460 564729 -

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STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices rebounded last week, snapping the four straight weeks of losses, as investors picked up cheap stocks.

The benchmark Philippine Stock Exchange index (PSEi) gained 93.43 points to close at 7,880.41 points.

“A couple of blue-chips made it into our top gainers this week despite investors focusing on second-liners and speculative issues which has been the trend for most of the month,” Christopher Mangun, research head at AAA Securities Inc., said.

During the week, Kepwealth Property Phils. Inc. debuted as the country’s first initial public offering of the year. Kepwealth along with Phinma Petroleum and Geothermal Inc. hit its price ceilings of an increase of 50 percent a day, giving investors a window to make money on a weak market.

Foreign investors, however, continue to dump local shares and were net sellers at P1.5 billion.

Average trade value for the four-day trading week was at P6.81 billion.

Among the subindices, only the Property index gave up points, shedding 20.28 points to close at 4,016.69, while all others ended on the green.

The broader All Shares index was up 29.24 points to 4,770.38, the Financials index gained 47.83 to 1,827.12, the Industrial index surged 152.68 to 10,997, the Holding Firms index climbed 45.54 to 7,772.54, the Services index increased 21.04 to 1,589.89, and the Mining and Oil index expanded 22.81 to 8,074.

Losers still managed to edge gainers 127 to 87, and 32 shares were unchanged.

Top gainers for the week were Kepwealth, Liberty Flour Mills Inc., Phinma Petroleum, Keppel Philippines Holdings Inc., Metro Alliance Holdings and Equities Corp., and Italpinas Development Corp.

Top losers, on the other hand, were Cirtek Holdings Philippines Corp., Premiere Horizon Alliance Corp., Concrete Aggregates Corp., EasyCall Communications Philippines Inc., PhilWeb Corp. and Petroenergy Resources Corp.

THIS WEEK

SHARE prices may continue falling this week as investors said events overseas, mainly the US-China trade war, will overshadow many of the local strengths.

“The PSEi may have ended with gains this week after finding strength at its support level of 7,750 however, we are still convinced that this market will continue to go lower,” Mangun said.

Several factors that will hold the market from increasing include the ghost month, which ends on August 29, the foreign outflows and the increase in tensions in this USChina trade war, Mangun added.

“We will see more investors flee to safe haven assets like bonds and gold. Another factor could be the weakness in the currency which gives foreigners an advantage for going back into the greenback,” he said.

It will be another four-day trading week as August 26 is a public holiday for the National Heroes Day.

STOCK PICKS

BROKER Regina Capital Development Corp. recommended to buy the stock of PLDT Inc. when its support price of between P1,031 and P1,089 holds.

“Indicators are now supporting a possible downward bias that may continue for the remainder of the week. With relatively not enough momentum to cause a significant plunge in prices, TEL can be seen bottoming out at its support level before bouncing back up,” it said.

PLDT shares closed last week at P1,149.

Meanwhile, it gave the same recommendation on the stock of Jollibee Foods Corp. at a support price of between P216 and P217 per share.

“Selling pressure, however, is still strong,” it said.

“Its relatively volatile movement is still trapped within a range below 244.00. This is expected to carry over, at least for the rest of the week,” it said.

Jollibee shares closed Friday at P230 apiece. VG Cabuag

fourfold to 74 units, from 18 units.

In the January to July stretch, PC sales decreased 15.39 percent to 10,565 units, from 12,487 units in the same period last year.

This was compensated for by sales of LCVs that rose 28.09 percent to 8,645 units, from 6,749 units. Further, CV sales jumped nearly 140

MUTUAL FUNDS

percent to 580 units, from 242 units.

The multipurpose H-100—which can be utilized as a cargo van, ambulance, modern jeepney, refrigerated van, dropside truck and wing van— is by far the largest contributor to LCV sales at 3,860 units, followed by the award-winning Kona at 2,455 units. Elijah Felice E. Rosales

August 23, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 258.11 -0.51% -2.07% 0.4% 2.34% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5473 4.62% 2.05% 1.73% 7.39% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0125 -1.89% -3.34% -0.81% 2.81% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9526 4.06% N.A. N.A. 5.73% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8619 0.84% N.A. N.A. 5.02% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.3935 0.77% -0.86% 0.5% 2.28% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8666 0.65% -5.13% N.A. 3.57% MBG EQUITY INVESTMENT FUND, INC. -A 119.16 6.92% N.A. N.A. 2.58% PAMI EQUITY INDEX FUND, INC. -A 51.765 2.63% -0.96% N.A. 5.16% PHILAM STRATEGIC GROWTH FUND, INC. -A 540.61 2.89% -1.8% 0.16% 5.03% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3101 2.11% -0.49% 1.51% 4.47% PHILEQUITY FUND, INC. -A 38.4726 2.46% 0.27% 1.56% 5.02% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0276 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2549 3.49% -0.07% 2.09% 5.97% PHILIPPINE STOCK INDEX FUND CORP. -A 877.13 3.51% -0.37% 2.03% 5.88% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9112 4.39% -1.13% N.A. 5.95% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2955 3.66% -0.13% 1.61% 5.83% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0082 3.09% -0.41% N.A. 5.65% UNITED FUND, INC. -A 3.7028 3.17% 1.52% 2.62% 5.77% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.5707 3.93% 0.47% 3.09% 6.16% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9307 -8.16% 1.03% -2.13% 0.17% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2855 0.07% 7.05% N.A. 16.31% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.68 -0.27% -3.13% -2.22% 1.74% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3101 1.2% -1.45% 0.36% 4.57% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6503 2.38% -0.55% -1.06% 4.22% GREPALIFE BALANCED FUND CORPORATION -A 1.3458 0.36% N.A. N.A. 3.18% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9549 4.83% 0.08% 1.27% 6.07% PAMI HORIZON FUND, INC. -A 3.8052 5.32% -0.91% 0.66% 7.82% PHILAM FUND, INC. -A 17.0384 5.75% -0.86% 0.54% 7.11% SOLIDARITAS FUND, INC. -A 2.1473 2.73% 0.08% 1.7% 3.77% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8942 5.06% -0.15% 1.25% 6.65% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0215 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0088 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0054 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9954 5.49% -0.13% 0.81% 8% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03848 9.01% 2.12% 2.58% 9.01% PAMI ASIA BALANCED FUND, INC. -A $0.9709 -1.6% 1.13% -1.65% 6.26% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7513 2.83% 5.17% 2.79% 13.38% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1176 4.7% 3.32% N.A. 10.65% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.54 3.83% 2.23% 2.34% 2.93% ATRAM CORPORATE BOND FUND, INC. -A,1 1.912 2.53% 0.11% -0.04% 2.84% COCOLIFE FIXED INCOME FUND, INC. -A 3.0755 5.42% 5.39% 5.3% 3.34% EKKLESIA MUTUAL FUND INC. -A 2.2195 4.5% 1.32% 2.18% 4.24% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.349 5.9% 1.47% 1.74% 6.53% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6079 1.41% -1.75% 0.24% 2.78% PHILAM BOND FUND, INC. -A 4.3268 9.35% 0.67% 1.98% 10.38% PHILEQUITY PESO BOND FUND, INC. -A 3.7437 7.46% 1.16% 1.76% 6.44% SOLDIVO BOND FUND, INC. -A 0.9545 5.73% -0.2% N.A. 7.1% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0318 9.3% 1.7% 2.69% 9.62% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6815 9.31% 1.22% 2.25% 9.2% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $462.81 4.14% 1.71% 2.78% 3.21% ALFM EURO BOND FUND, INC. -A Є220.05 2.95% 1.34% 1.58% 3.47% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.195 6.9% 1.99% 2.54% 6.16% 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 $1.7169 0.6% -2.1% 0.5% 1.58% PAMI GLOBAL BOND FUND, INC -A $1.1046 6.25% -0.31% -1.58% 6.59% PHILAM DOLLAR BOND FUND, INC. -A $2.4139 10.95% 1.54% 3.64% 11.2% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0600769 5.75% 1.81% 2.04% 5.4% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1734 9.16% 0.94% 3.15% 10.49% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.45 4.09% 2.61% 2.07% 2.95% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0206 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2388 5.56% 2.36% 1.45% 4.81% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2516 3.9% 2.76% 2.14% 2.66% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0311 2.2% N.A. N.A. 1.5%

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

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

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

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

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Banking&Finance BusinessMirror

IC chief chosen to lead UN-backed reinsurer

D

ENNIS B. FUNA, the chief of the Insurance Commission (IC), has been elected as chairman of the Asian Reinsurance Corp. (Asian Re), an intergovernmental organization under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (Unescap).

Funa is the second Filipino to be installed in this leadership post by its 10 member-states, the IC’s report to the Department of Finance (DOF) said.

“As chairman of Asian Re, we shall have the opportunity to lead the corporation to greater heights, and moreover, we will be in a good position to encourage better reinsurance cooperation among various national reinsurers, which will effectively spread insurers’ industry risks, particularly catastrophe risks, and allow them to further diversify their portfolio—a win-win for everyone involved,” Funa said.

Funa replaced Abdolnaser Hemmati, who had been appointed as governor of the Central Bank of Iran.

Then-IC Commissioner Gregoria Cruz Arnaldo became Asian Re’s first chairman from 1979, when it was established, to 1981. Arnaldo was reelected and served until 1983.

Funa said the 10 regular members have varying equity holdings in Asian Re, with Iran and Thailand contributing the largest sums.

According to him, the Philippines’s equity is at $500,000 (around P3.71 million at 1979 exchange rate of P7.420 to $1).

Funa was elected last June 28 at Asian Re’s headquarters in Bangkok, Thailand, for a two-year term, with reelection.

Besides the Philippines, the organization has nine other memberstates from the Unescap, namely: Afghanistan, Bangladesh, Bhutan, China, India, Iran, South Korea, Sri Lanka and Thailand. Bianca Cuaresma

Trade chief urges lawmakers to help MSMEs fight usury

T

HE secretary of the Department of Trade and Industry (DTI) asked the House of Representatives to institutionalize the “Pondo sa Pagbabago at Pag-Asenso” (fund for change and progress, or P3) program to eliminate the “5-6” lending scheme preying on micro, small and medium enterprises (MSME).

During Friday’s briefing on the DTI’s budget for 2020, Trade Secretary Ramon M. Lopez said the P3 program is a socialized micro-

financing platform for MSMEs. It will provide them with an alternative source of funding and wean them from usurious lenders.

Makati City’s end-July collection hits ₧14.2 billion

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HE Makati City local government said it has attained 83 percent of its full-year revenue target as of July, as its total collections reached P14.2 billon, according to the latest report of the City Treasurer to Mayor Abigail Binay.

The mayor said the city government was on track with its revenue target of P17.1-billion for the year, noting that Business Tax had the biggest share with P7,839,128,771.19, or 80 percent of target. “‘Business Tax’ remains to be our biggest sharer of revenues, and I am glad that our efforts to make it easier and more convenient to do business in the city have translated to sustained revenue growth,” Binay said.

She recalled that the city had attained 56 percent of its revenue

target last February, collecting a total of P9.51 billion which topped by 11 percent the amount collected in the same period last year.

Binay also noted that the city has already surpassed its target revenue collection from real property tax, posting P4,843,474,149.46 as of end-July, or over 1 percent higher than the target of P4,785,000,000.

“We are expecting the figures for realty tax to go higher in the coming months, especially since we will soon publish the list of delinquent properties that will be put up for public auction sometime this November,” she added.

The mayor reminded real property owners with delinquent tax payments to immediately coordinate with the Realty Tax Division

and settle their tax obligations before their properties are put up for auction.

Based on the report of City Treasurer Jesusa Cuneta, the city’s revenue collection reached P14,239,800,251.81 as of endJuly, with the bulk coming from Business Tax, followed by Realty Tax. Income from other sources included P627,894,080.06 from Fees and Charges, P95,934,341.76 f rom Econom ic Enter pr ises, P142,588,603.34 from Interest Income, and P691,780,306 from Internal Revenue Allotment.

Data from the Business Permits and Licensing Office showed that as of August 22, there are 3,466 new business registrants in the city, with combined capital investment

amounting to P34 billion. In the same period, 34,755 have renewed their business permits, with combined gross sales of P1.4 trillion.

At present, the city government is developing the enhanced Business Permit and Licensing system or e-BPLS, a computerized system that will provide easy access to business permits through different platforms. For two consecutive years, the city has earned the highest audit rating of an “unqualified opinion” from the Commission on Audit for its fair and honest presentation of its financial statements for 2017 and 2018.

Declared as the country’s richest local government unit, Makati’s total assets to date amount to P230 billion.

Perspectives

A sea of voices

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HE asset and fund management industry has grown significantly in the last decade, with surveys indicating about 65-percent growth since 2007, to over $80 trillion in assets under management worldwide.

As its importance to the world financial system—linking those with money to invest with enterprises and activities that require funding—is increasingly recognized, so both the industry and the regulators that police the sector become more prominent.

The industry and regulators are coming under pressure from a range of “external” voices—demanding investors and consumer groups, clamoring political and economic needs, changing priorities and hopes of civil society, an increasingly noisy press, the explosion in social media and the rapid growth of new technologies.

This sea of voices is directly influencing the regulatory agenda and increasing expectations on the industry. A fundamental rethink of firms’ mindset and investment offerings is required.

Structures and remits are in flux as regulators and supervisors adapt their agendas and working methods to a changing environment. Supervision of the sector is both broadening and deepening, and supervisors are turning to technology to help them perform their roles more efficiently.

There is new rule-making in some areas and in some jurisdictions, but agendas are increasingly focused on the monitoring and review of the myriad of post-crisis rules. There are demands from policy-makers and regulators for yet more data, and there are demands

from the industry and institutional investors for a rationalization of requirements and for greater global regulatory convergence.

The identification and containment of systemic risks became the overwhelming priority of policymakers and regulators after the 2008 financial crisis. Eleven years on, the financial crisis is now a distant memory for many, but policymakers are still highly attuned to the fragility of markets. Again, there are calls for more data.

As the asset management industry expands, so debate around it intensifies, but there are conflicting views about the most appropriate regulatory response. Regulators are deepening their examination of systemic risks in the sector, with a focus on liquidity and leverage. Exchangetraded funds and money market funds remain on the watch list.

As we emphasized in last year’s report, governance and conduct are global regulatory preoccupations. That ethos is spreading. It is no longer enough for firms simply to adhere to rules and regulations.

They need to think more broadly about the impact of their culture and conduct. The public loudly demands that firms serve their clients with skill and care.

There are increasing calls worldwide for individuals within the financial services industry to be held personally to account for their action. Diversity, remuneration and stewardship are all on the agenda. Fund distribution and financial advice rules are being further strengthened, and the industry’s governance of delegated or outsourced activities are under scrutiny.

The regulatory search continues

Monday, August 26, 2019 B3

for perfect disclosures to investors, with a focus on the calculation and presentation of costs and charges.

A small but increasing number of regulators are also probing the level of costs, in response to persistent voices that call for a different equilibrium to be found between what is reasonable for investors to be charged and the profits of investment firms. “Closet trackers,” the use of benchmarks and performance fees are all under the regulatory microscope.

Many markets are opening, but others are becoming more restrictive and there remain frictions in the cross-border distribution of investment funds. In particular, “Brexit” is impacting cross-border flows between the UK and the rest of the EU, and this impact is likely to increase. Meanwhile, the EU regulatory approach to delegation is being more stringently supervised, with US and Asian firms potentially affected, too.

Elsewhere, use of the Asian fund passports remains low but is slowly rising. Bilateral fund arrangements are flourishing, developing economies continue to open up their capital markets to foreign firms and investors, and new fund structures seek to compete. Around the globe, there are new opportunities for asset managers and investment funds in the retirement savings market, but in some cases more conditions or restrictions are being imposed.

Voices arguing for climateaware investing and carbon controls are increasing. Demand for ethical treatment of employees, customers and other stakeholders is also growing, as is indignation about poorly-managed companies.

Consideration of environmental, social and governance (ESG) factors is now a must.

The investor voice is already having a significant impact on asset managers’ investment processes and strategies. Regulators in some jurisdictions are seeking to catch up, but their responses vary, and industry and investor reactions to their proposals are mixed. Most, but by no means all, institutional investors believe sustainability should be incorporated into portfolios. However most, but not all, investors believe that ESG measures should not be mandated.

Meanwhile, fintech developments are coming thick and fast, and are already a powerful external driver of regulation. The regulators have a dilemma: they are called on to support and help nurture nascent industries that increase efficiency and help consumers to access financial services, but they are concerned about new and heightened risks, in particular, the protection of personal data.

Regulators are rethinking how they regulate the industry, both new fintech entrants and existing businesses that are encompassing fintech developments. Existing conduct rules were largely written in a paper and face-to-face world.

Are the rules fit-for-purpose in a digital age?

The excerpt was taken from the KPMG article “A sea of voices: Evolving Asset Management Regulation” report.

R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

Lopez said at least P4 billion is needed yearly for the implementation of the P3 program. He added that the DTI has allocated P1.3 billion for the program’s implementation in 2020.

Lopez claims the P3 program can effectively dismantle the P30billion market of usurious lenders by allowing MSMEs to borrow up to P300,000 with low interest rates.

Borrowers will be charged a maximum interest rate of 26 percent per annum with no collateral requirement. This rate is lower than the 20 percent per day, week or month interest charged by 5-6 lenders, as well as those applied by most microfinance institutions (MFIs), Lopez said.

While the P3 bill was approved

in the 17th Congress, its counterpart version got stuck in the second reading. In the 18th Congress, Quezon City Rep. Precious Hipolito-Castelo filed House Bill 3699 or the proposed “Pambansang Pondo Para sa Pagbabago at Pag-Asenso” Act of 2020.

Under the bill, the amount of P50 billion chargeable against the 2020 appropriations of DTI shall be appropriated to effectively carry out the proposal.

“The P3 program aims to provide microenterprises with an alternative source of funding,” Hipolito-Castelo said. “Borrowers can take out a loan [anywhere from] P5,000 [up] to P100,000 with no collateral and with a maximum monthly interest of 2.5 percent.” Jovee Marie N. Dela Cruz

Innovative CFOs seen behind success of lasting companies

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HAT do Ayala Corp., San Miguel Corp., Pilipinas Shell Petroleum Corp., and SM Prime Holdings Inc. have in common?

These companies are also home to some of the country’s exemplary chief finance officers (CFOs) recognized by Dutch financial giant ING Bank and the Financial Executives Institute of the Philippines (Finex) in the annual search for the “ING Finex CFO of the Year Award,” which closes its nomination period this August 31.

In this rapidly changing world where risks and volatility are constantly on the rise, CFOs, as “cocaptain” of the CEO in steering the organization, are seen to play a vital role in their companies’ endurance.

Recent research from the Yale School of Management shows that the average lifespan of an S&P 500 company in the US has been shrinking—from 67 years in the 1920s to just 15 years today. It also predicted that 75 percent of firms in the S&P 500 will disappear by the year 2027.

“Companies are under pressure to innovate and grow and to do so in a sustainable, value-creating way. CFOs nowadays must possess the ability to make the connection between company strategy, investments in innovation, and how these will create future value,” said Jose Teodoro Limcaoco, CFO and managing director of Ayala Corp. and 2017 ING Finex CFO of the Year awardee.

Ayala Corp. recently announced a massive digital transformation across the group, including exploring new business models and leveraging data analytics. The group has already established a foothold in

fintech, e-commerce, logistics, industrial tech, and health tech, aiming to invest more in tech innovations in digital businesses it deems “disruptive” and designed to complement its traditional brick-and-mortar operations. Among these are its more than P18.5-billion investment in the fintech initiatives of banking arm Bank of the Philippine Islands and Globe Telecom Co. for greater financial inclusion, and health-care technology such as electronic medical records to make its chain of communitybased primary-care clinics, more affordable and accessible.

Limcaoco, however, cautioned that innovation is not always just about technology.

“CFOs should be aware of anything that might challenge their current business model, may it be technology, public opinion, sentiment, or political change,” he said.

One example is the hot-button topic on artificial intelligence (AI) and Big Data.

“The misconception is that AI or Big Data will tell you what to do.

Wrong! The [data] pattern doesn’t come out unless you have a question.

So it’s critical that the business units know how to ask the hard and impossible questions, the ones they cannot answer. That’s the only time that Big Data can be truly groundbreaking,” Limcaoco added.

Innovation in companies also cannot thrive without internal support.

“You need to encourage innovation throughout the organization.

Don’t penalize people for suggesting new and radical ideas, and for thinking outside the box. Create an environment where they can try out these ideas,” he said.

PHL Red Cross to accept donations through GCash

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O make it easier for the public to donate money, the Philippine Red Cross (PRC) has signed a partnership with Globe Fintech Innovations Inc. (GFII) to facilitate easier online donations and to expand the organization’s network of volunteers.

“Innovation is nonstop at PRC. Through this partnership, we can empower people to take part in Red Cross missions by giving what they can give without breaking a sweat—at their most convenient time,” Chairman Richard Gordon said. Gordon also lauded the agreement, which covers the usage of the GCash platform to allow the public to donate using mobile phones.

Under the memorandum of agreement, PRC and GFII will generate a

quick response (QR) code that enables easier cashless transactions.

The partnership is also seen to facilitate faster relief operations in times of disasters and emergencies as GFII’s GCash app can be used to disburse cash relief assistance.

Moreover, the PRC will train 800 GFII employees on Standard First Aid and Basic Life Support Training.

Upon completing the training, GFII employees will be included in PRC’s pool of community volunteers who serve as the organization’s first responders during emergencies.

The agreement also covers conducting joint mass bloodletting programs, and promoting PRC’s disaster preparedness and disaster risk reduction training to Mynt employees.

Claudeth Mocon-Ciriaco

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Atimonan lass is 2019 Niyugyugan Festival Queen

CCP, Philippine Madrigal Singer, Batangas City hold music camp & outreach

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HE festival queens wearing their ingenious festival gowns made of materials from the most celebrated tree of life- the coconut tree which is the center of the Niyogyugan Festival’s annual celebration.

Crowned this 21st of August 2019 at the Quezon Convention Center as Bb. Niyogyugan 2019 is Ms. Natalya Margaret Lindsay from Atimonan (center). Hailed 1st Runner-Up is Ms. Ira Patricia Malaluan from Candelaria

(second to the left), 2nd Runner-Up is Ms. Netania Deveza from Lucban (second to the right), 3rd Runner-Up is Ms. Cyrell Ann Diasanta from Alabat (first on the left), and 4th Runner-Up is Ms. Marielle Montaña from Pagbilao (first on the right).

The Bb. Niyogyugan Festival winners will be joining the Grand Parade and Competition on August 24, 2019. The parade starts at 3:00 in the afternoon at the SM City Lucena.

HE Cultural Center of the Philippines (CCP) through its Cultural Exchange Department (CED) and the Philippine Madrigal Singers (MADz) through the Andrea O. Veneracion Sing Philippines Foundation Inc. (AOVSPFI), in partnership with Batangas City, one of CCP’s Kaisa sa Sining Regional Arts Center in Luzon, hold a regional music camp with outreach concerts featuring the Sing Philippines Youth Choir (SPYC) tour group of 2019-2020, in Batangas City from August 2025, 2019.

Composed of 40 singers selected from SPYC batches 1 to 3, the SPYC tour group members come from 24 provinces/communities all over the country. The week-long music camp in Batangas City, which is the Luzon leg, will include sessions on singing and breathing techniques, enhancing capabilities of the singer and enabling them to contribute strongly to their respective voice sections. The pool of

trainors is led by MADz choirmaster Mark Anthony Carpio together with MADz alumni Cecilia O. Valeña (Chair-UP Department of Voice Music Theater and Dance); Nil’s Emerson Flores (bass-baritone); and Alfred Allan Samonte (MADz Executive Director).

The SPYC project was launched in June 2014 by the MADz and the CCP CED. The next strategic goals of the SPYC organizers is to further advance the music training (through music camps in the regions) of a pre-auditioned group from the three batches, present them in local outreach performances this year, present them in an international concert tour in 2020 and finally have them participate in one of the prestigious choral competition in Europe in 2020.

Preparations for the Visayas and Mindanao leg of the music camp are underway. For more information, contact the CCP Cultural Exchange at 832-1125 locals 1708-1709.

Cebuana Lhuillier, Pangea Connect partner for quick, easy remittance service app

Cebuana Lhuillier President and CEO, Jean Henri Lhuillier (center) and Pangea Money Transfer CEO, Nishu Thukral (2nd from right) are joined by Cebuana Lhuillier Services Corporation General Manager Erlinda Sumanga, Cebuana Lhuillier Senior Executive Vice President Philippe Andre Lhuillier, and Pangea Money Transfer General Manager Joshua Gordon Blake during the contract signing.

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ebuana Lhuillier, the country’s largest microfinancial services provider, has launched a mobile remittance application, Quikz, in the United States, through its partnership with Pangea Money Transfer.

“Partnering with Pangea allows us to help improve the lives of our customers and better connect them to their family members overseas,” said Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier. “Pangea’s secure, quick, and easy money transfer technology supports better financial security and more opportunities for Filipinos who want a convenient way to send and receive funds.”

Through the money remittance application, Cebuana Lhuillier customers will soon own more of the transfer process and directly connect to senders in the US.

“We are excited to work with Cebuana Lhuillier on this groundbreaking service for Filipino customers in the United States.

This partnership expands our mobile remittance technology to even more senders, contributing to our goal of bringing effortless money transfer to those who need it most.” said Nishu Thukral, Pangea Money Transfer CEO, as the partnership is expected to bring Pangea’s international moneysending solution to a massive user base.

Available on the Apple App and Google Play stores for customers in the United States, Quikz is powered by Pangea Connect and is the company’s new Remittance-as-aService (RaaS) offering.

To learn more about Cebuana Lhuillier Quikz, visit www.facebook.com/ cebuanalhuillierquikz.

RKR Seafood Mart opens in Sta. Rosa, Laguna

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hen Ralph Kevin G. Cabatingan, 27, and his brother, Renz Mark, 22, decided to leave their day jobs in favor of putting up their own business venture, they typified the emerging millennial entrepreneurs, they’re prepared for the risks, focused on their goals, and will leave nothing to chance to be successful.

Honoring their parents, their father, Rosendo, a successful corporate executive who grew up in an island off Masbate where fishing was the livelihood, and their mother, Lourdes, whose Pampanga roots exposed her to good cuisine, the brothers are set to open RKR Seafood Mart on September 7, that provides fresh and high quality seafood and related products to a discriminating consumer base who wants their seafood fresh and of top quality.

Our fish and other marine produce are sourced from local communities in

Luzon and the Visayas. This is part of our sustainability objective to provide fishermen a return distribution line direct to consumer, while value added conditions are assured to preserve seafood quality, said Ralph Cabatingan who recently earned his MBA from San Beda College, Alabang.

Their store aims to give consumers quality seafood in a clean, hygienic place. Renz Mark, who has a culinary degree from Enderun Colleges said that sanitation and hygiene are critical aspects to ensure freshness and quality which RKR Seafood Mart guarantees.

The store will offer convenience to its customers who can order via email (ralph. cabatingan@rkrseafood.com) or by calling in their purchases via mobile at +63917 187 3328. It will also have delivery services soon.

RKR Seafood Mart is located at Phase 1-E San Lorenzo South Subdivision, Sta. Rosa, Laguna.

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EW YORK—During a break in practice two days before opening his US Open title defense, Novak Djokovic pulled off his blue shoe and white sock so a trainer could look at his right foot.

Did it again a little while later.

And then, toward the end of Saturday’s training session in Louis Armstrong Stadium with 2014 runner-up Kei Nishikori, Djokovic stopped a sprint and pulled up short of a ball, raised his right leg off the ground entirely and hopped repeatedly on his left, wincing. Nothing to worry about, Djokovic said later at his pretournament news conference: just blisters.

The Associated Press

By Howard Fendrich

“A minor thing,” Djokovic called it. “Like anybody has.... Nothing major that is causing a concern for the event.”

When the year’s last Grand Slam tournament begins Monday, Djokovic will be in Arthur Ashe Stadium during the afternoon session, facing Roberto Carballes Baena, a 26-year-old from Spain whose career-best ranking was 72nd.

Carballes Baena has an overall career record of 43-50. That includes 2-7 at major tournaments, 1-1 at Flushing Meadows, where he made his debut a year ago and lost in the second round.

Djokovic, meanwhile, has won 33 of his past 34 Grand Slam matches en route to collecting four of the past five major titles. That allowed the 32-year-old Serb to raise his career haul to 16 trophies, putting him just two away from second-place Rafael Nadal’s total of 18, and Roger Federer’s 20, which is the record for men.

He’s not shy about trying to catch those guys.

“More or less everything is about Grand Slams, in terms of how I see tennis and how I approach it, because they matter the most,” Djokovic said. “So I will definitely try to play my best tennis—and aim to play my best tennis—at these events.”

And while many would attribute Djokovic’s success to his ability to

night session on Monday as the year’s last Grand Slam tournament gets started.

“Of course, I’m going to watch it. I know you all are going to watch it. I think everyone in New York is going to watch it,” defending champion and No. 1 seed Naomi Osaka said Friday. “Yeah, I mean, for me, I’m not that surprised that that happened, because, like, at every Grand Slam, there is always some sort of drama. You know what I mean? Like a first round. Like, ‘Oh, my God!’” The US Tennis Association announced the show-court schedules for both Day 1 and Day 2.

That includes 15-year-old Coco Gauff in action at Louis Armstrong Stadium on Tuesday.

The first match in the main stadium Monday will be French Open champion Ash Barty

Open.

The two tennis stars’ 22nd career meeting—and first at Flushing Meadows—will be the opening act in Arthur Ashe Stadium for the

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EW YORK—Serena Williams versus Maria Sharapova is, not surprisingly, getting prime-time billing at the US

against Zarina Diyas, followed by defending men’s champion and No. 1 seed Novak Djokovic against Roberto Carballes Baena.

Then at night, WilliamsSharapova will be followed by 20-time Grand Slam champion Roger Federer against qualifier Sumit Nagal.

Williams owns 23 major singles trophies, while Sharapova has five. Both have been ranked No. 1. They’ve met at every other major tournament at least once, including in a final at each, but never before at the US Open. Williams has won 18 matches in a row against Sharapova, and leads their overall series 19-2.

In Louis Armstrong Stadium on Monday, the day slate includes Williams’s older sister, twotime US Open champion Venus, 2016 runner-up Karolina Pliskova and No. 5 seed Daniil Medvedev, while the night program features three-time major champ Stan Wawrinka and 2017 US Open runner-up Madison Keys.

Tuesday’s participants in Ashe include Osaka and two-time French Open finalist Dominic Thiem during

SERENA VS. MARIA ON DAY ONE

When the year’s last Grand Slam tournament begins Monday, Novak Djokovic will be in Arthur Ashe Stadium during the afternoon session, facing Roberto Carballes Baena, a 26-year-old from Spain whose career-best ranking was 72nd.

SERENA WILLIAMS and Maria Sharapova’s 22nd career meeting— and first at Flushing Meadows—will be the opening act in Arthur Ashe Stadium for the night session on Monday as the year’s last Grand Slam tournament gets started.

the afternoon, with 18-time major title winner Rafael Nadal and 2017 US Open champion Sloane Stephens in action at night.

In addition to Gauff’s firstround match against Anastasia Potapova, Day 2 in Armstrong will include two-time major champion Simona Halep and Australian Open semifinalist Stefanos Tsitsipas in the afternoon, along with two-time Australian Open champion Victoria Azarenka and the combustible Nick Kyrgios against American Steve Johnson at night. AP

return serves, say, or his mental strength and propensity for coming up big in the biggest moments—such as saving two match points along the way to edging Federer in a fifth-set tiebreaker in the Wimbledon final last month—there’s something else the man himself would point to as his most vital quality.

That’s the way Djokovic can cover a court, which is why the state of that right foot is actually a rather big deal.

His movement, Djokovic said Saturday, is “the base of everything” and “the most important thing.”

“It just allows you to be more in balance. And at the end of the day, that is what you’re looking for as a tennis player,” he explained. “How can you hit the ball, being in the right balance, so you can penetrate the ball with the right speed, accuracy and precision?”

Watch Djokovic during a match, and you’ll see him change direction in a heartbeat, twist and turn, contort his limbs, slide—on clay, on grass, even on hard courts—always getting to the right spot at the right time.

He attributes his strength in that area to the flexibility of his ankles and is grateful he used to participate in another sport while growing up back home in Serbia.

“I credit my childhood spent on the skis. I used to spend a lot of time

NOVAK DJOKOVIC is not worried about blisters with the US Open afoot. AP

EW YORK—Coco Gauff and Caty McNally will get a chance to play doubles at the US Open and add to their winning streak as a team.

Gauff, the 15-year-old based in Florida who announced herself to the world at Wimbledon, and McNally, a 17-year-old from Ohio, were granted a doubles wild card by the US Tennis Association on Saturday.

Each previously was given a wild card for the singles main draw, too. The tournament begins Monday.

A year ago, Gauff and McNally won a US Open junior title in doubles. They then picked up the first Women’s Tennis Association (WTA) trophy for each by winning the doubles title at the Citi Open in Washington this month.

McNally also reached her first tour-level semifinal in singles at that hard-court tournament.

Gauff’s big breakthrough in singles came at the All England Club this year. She became the youngest qualifier in Wimbledon history, then beat Venus Williams in the first round and made it to the fourth round before losing to eventual champion Simona Halep.

Two-time Grand Slam finalist Kevin Anderson has pulled out of the US Open with an injured right knee.

The 33-year-old South African was the runner-up to Rafael Nadal at Flushing Meadows in 2017 and to Novak Djokovic at Wimbledon last year.

The US Tennis Association announced Anderson’s withdrawal Saturday and said he would be replaced in the main draw by Paolo Lorenzi of Italy, who lost in qualifying.

Anderson hasn’t played in a tournament since losing in the third round of Wimbledon in July.

He had been seeded No. 16 for the US Open and could have faced defending champion Djokovic in the fourth round. AP

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Gauff, McNally make US Open as wild cards

onday, August 26, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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skiing,” Djokovic said. “That had an effect as well, with kind of coordination and changing movement from one side to another. Even though they’re different sports, in essence, you’re using some major muscle groups and joints and stuff like this in most of the sports.”

It’s Djokovic’s right elbow that gave him the most trouble a couple of seasons ago.

He missed the last half of 2017, including that year’s US Open because that arm was bothering him, then wound up having surgery in February 2018. It took some time for Djokovic to get going after that. All’s good these days, though.

“Novak had a couple years where he didn’t seem like the same guy,” ESPN’s John McEnroe said. “Now he’s back with a vengeance.”

Only one-and-a-half months have passed since Djokovic edged Federer in that classic title match at the All England Club.

Not a lot of time to savor the victory. Not a lot of time to rest a weary body.

“This sport can be a little bit ‘cruel,’” Djokovic said, using fingers to indicate air quotes, “when it comes to, I guess, marveling or celebrating your own success. You don’t have that much luxury of time to really reflect on everything because the season keeps going.”

NOVAK: WHAT ME, WORRY?

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Monday, August 26, 2019

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Kuzma out with ankle injury

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ELBOURNE, Australia—USA Basketball said Saturday that Kyle Kuzma of the Los Angeles Lakers has a left ankle injury that will keep him from playing in the Fiba World Cup. Kuzma’s absence finalized the US roster for the tournament, which starts August 31 in China. The Americans had 13 players and needed to get down to 12 for the World Cup. Kuzma was initially ruled out of USA Basketball’s 98-94 exhibition loss at Australia on Saturday with left ankle soreness.

Kuzma told team officials Saturday morning that the ankle was sore, and it was decided to hold him out for precautionary reasons. Kuzma had 12 points in the

Americans’ 102-86 win over Australia on Thursday, going 4 of 5 from three-point range.

But after the game, the team said it was determined that Kuzma’s injury would keep him from playing.

The final US roster: Guards—Joe Harris (Brooklyn), Donovan Mitchell (Utah), Marcus Smart (Boston), Kemba Walker (Boston) and Derrick White (San Antonio).

Forwards—Harrison Barnes (Sacramento), Jaylen Brown (Boston), Khris Middleton (Milwaukee) and Jayson Tatum (Boston).

Centers—Brook Lopez (Milwaukee), Mason Plumlee (Denver) and Myles Turner (Indiana). AP US Head Coach Greg Popovich yells out instructions as Australia’s Andrew Bogut (left) and American Donovan Mitchell compete for the ball. AP

Japan earns consecutive wins at Tokyo 2020 event

DOWN DOWN UNDER

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APAN recorded victories in both the men’s and women’s matches played today at the Tokyo 2020 basketball test event at the Saitama Super Arena.

The hosts defeated Chinese Taipei, 91-59, in the first women’s match at the venue which host the Olympic basketball tournaments at next year’s Olympic and Paralympic Games.

This was followed by victory over Germany in the evening men’s match as Japan edged an exciting game 86-83.

Rui Hachimura, who plays in the United States for Washington Wizards, was the star for the hosts, scoring 31 points and picking up five rebounds.

It also forms part of the International Basketball Games 2019, while the women’s matches are part of the Mitsui Fudosan Cup. The test event continues tomorrow, with Japan’s men facing Tunisia and their women playing Chinese Taipei in part two of their double header.

Germany was too good for Tunisia in the second game of the Tokyo 2020 basketball test event.

The German men overcame their North African opponents 89-70, extending their margin of victory from a 42-35 advantage at the halfway point.

The match forms part of the International Basketball Games and has been organized by the Japan Basketball Association, both to test facilities but also give their squads some practice.

Matches are being held at the Saitama Super Arena, which will host basketball at the Olympic Games in Tokyo next summer.

Germany, Tunisia, Argentina and Japan are taking part in the men’s competition, which is doubling up as a warm-up for the International Basketball Federation World Cup in China, starting on August 31.

All the matches are taking place under the Ready Steady Tokyo test event banner.

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HE US men’s basketball team had never lost to Australia. It had gone nearly 13 years without losing a game with a National Basketball Association (NBA)-stocked roster. It was in the midst of the longest winning streak in team history.

Until Saturday.

The Americans went Down Under, and went down.

Australia beat the US, 98-94, before a crowd of more than 52,000 in Melbourne, an outcome that ended the Americans’ 78-game winning streak and cast major doubt on the team’s ability to capture a third consecutive World Cup in China.

“Nobody wins forever,” USA Basketball Coach Gregg Popovich said.

The last time the Americans—

counting major international tournaments and exhibitions with NBA players on the floor—lost a game was the semifinals of the 2006 world championships. The program has won gold in every competition since, including three straight in the Olympics and two consecutive World Cup titles.

But now, the gold standard of international basketball looks unusually vulnerable.

“It’s a friendly so we want to keep it in context,” Australia center Andrew Bogut said. “But we did make history tonight, the first senior men’s Australian team to beat an American team.”

Popovich said all the right things after the game. He lauded the Australian players and those tasked with putting their team together. He raved about Patty Mills, who scored 30 points to lead the Boomers to their biggest win. He good-naturedly vowed that when he and Mills get back to San Antonio, where they’ve been together as coach and guard for the last eight years, he will find a way to exact revenge.

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HE International Judo Federation (IJF) signed up to the Brighton plus Helsinki Declaration, an international treaty supporting full gender equity in sport.

The treaty was signed by IJF President Marius Vizer at their Gender Equity Conference in Tokyo, ahead of the World Championships due to start tomorrow in Japan’s capital city.

The treaty obliges signatories to allow women and girls to freely

COUPLES MAKES AN ACE

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quickly. Serbia, France, Greece, Spain and now the Australians all arrive in China as legitimate title hopefuls. With most of the top US stars from the NBA like LeBron James, James Harden, Paul George and Stephen Curry sitting out this summer, the rest of the world clearly isn’t stuck playing for second place.

“You can learn as much or more from losing as winning,” Popovich said. “We’re all used to winning and losing. The USA has been a little bit different over the last 12 years—they’re only used to winning. So hopefully we can get back on that track.”

Since training camp started three weeks ago in Las Vegas, Popovich has expressed concern about the task of molding individuals into not just a cohesive unit but one good enough to win the World Cup. He warned it wouldn’t be easy.

Saturday’s outcome proved him right.

“This is a group of guys that’s worked very hard to get to know each other and get to know a system,” Popovich said. “And whatever comes, we can handle. Our job is to try to get better every day and we learned some things tonight.

We’re actually a better team now than at the start of the game because of the knowledge that we gained. So you move on.” AP

JUDO BACKS GENDER EQUITY and safely participate in sport, and build careers within them, as well as compete effectively.

IJF have already confirmed that there will be equality in the judo competition at next year’s Olympic games, where the same number of judoka and medals available to both genders.

A total of 193 men and 193 women will fight for 13 medals at Tokyo 2020, including in the new

Insidethegames

NOQUALMIE, Washington— Fred Couples made a holein-one in a round of nineunder 63 on Saturday and built a five-shot lead after two rounds of the Boeing Classic, his hometown tournament that he is trying to win for the first time.

Couples made the ace on No. 9, using a 4 iron on the 203yard hole. It was the highlight of another solid day from the Seattle native, who has posted consecutive bogey-free rounds.

“I hit it really solid right at it and it hit—I don’t know how it went in. It just hit and popped in,” Couples said. “Then I birdied a whole ton of holes after that.”

David Toms rebounded

More seriously, though, he sounded an alarm for the Americans.

“The loss means that we need to play better,” Popovich said. “It’s a measure of who you are.”

And who they are is still to be determined.

The US has played three exhibitions on their pre-World Cup tour, and Popovich has used three different starting lineups. The rotation is not clear, not even to the coaches.

Players—most never having been teammates until this month—are figuring out their individual roles and the broader scheme.

“I think when you look at international play, every team, they kind of have their calling card of what they fall back into, their system, their sets,” US forward Harrison Barnes of the Sacramento Kings said. “For us, we’re still getting to that point.”

There’s time for that. A little time, anyway.

The final exhibition for the Americans is Monday against Canada in Sydney. Once the US gets to Shanghai, its first three World Cup games shouldn’t be overly taxing—the Americans are ranked No. 1 in the world while group opponents Turkey, the Czech Republic and Japan are ranked 17th, 24th and 48th, respectively.

From there, the tests figure to ramp up

from a first-round 70 with a nine-under 63, and was tied for second at 11 under with Paul Broadhurst, who followed an opening 66 with a 67. Bernhard Langer (68), Ken Duke (66) and Stephen Leaney (68) are another stroke back at 10 under.

Couples shot a seven-under 65 in the first round at The Club at Snoqualmie Ridge. The holein-one jump-started his round on Saturday as he went on to birdie five of the next six holes. Couples closed out the round with a birdie at the 18th for a 30 on the back nine.

Couples, who grew up about 30 minutes from the course, has never finished higher than a tie

for third in the tournament. His five-shot lead entering the final round is the largest in tournament history.

“Tomorrow’s going to be a great day. We’ll see,” Couples said.

“I’m going to have to—these guys aren’t shooting—they’re not far behind. I mean, Toms, they’re all 5 and 6 under, so I’m going to have to shoot whatever I have to shoot.

I don’t want to win by one, I would like to win by nine. That would be easier.”

Toms, who started on the back nine, made five birdies and an eagle on his first nine holes Saturday to jump into contention.

First round leader Fred Funk faltered in the second round and shot a 4-over 76. Funk shot 64 and had a one-shot lead over Couples after the first round. AP

mixed team event.

At Rio 2016, there were 237 men and 153 women competing, while at these World Championships, 510 male judoka and 331 female athletes are scheduled to take part at the Nippon Budokan.

It was acknowledged at the conference that, while judo is approaching equality on the tatami, more needs to be done to represent women in other roles in the sport.

Croatia Judo Federation President Sanda Čorak, speaking at the Conference, revealed only 18 percent of referees are female, along with 13 percent of IJF commission members.

Of the 170 National Federation presidents, only 12 are female, while of the 23-person IJF executive committee, the only woman is Competition Manager Lisa Allan.

“I was elected judo president at the end of 2004, and when I came

to conferences I observed a small number of women,” Čorak said.

“I thought this would be changed, years passed, and nothing much really changed.

To give you exact numbers, at that time there were only two women who were national judo presidents in Europe; today, we have three women out of 52 countries.

If we are doing nothing, nothing is going to be changed.

Gender equality is a human right, this is not only a women’s issue, and it is among the bases of Olympism.

It is also among the core principles of good governance.”

The All Japan Judo Federation have initiated a number of policies ahead of the World Championships, including “career up seminars” to inspire and motivate women to participate in judo, as well as giving mothers easier access to the championships with a day care center at the Nippon Budokan.

Insidethegames

Ko, Broch Larsen share 3rd rd lead

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FRED COUPLES is looking good in Washington. AP

URORA, Ontario— Top-ranked Jin Young Ko shot a seven-under 65 on Saturday to grab a share of the lead heading into the final round of the CP Women’s Open.

Ko is tied with Nicole Broch Larsen at 18 under at Magna Golf Club. Defending champion Brooke Henderson of Canada is another two shots back in third.

Ko, winner of two major championships this

year, is seeking her fourth win overall. The last LPGA player to win four times in a season was Lydia Ko in 2016.

Henderson also shot a 65 in the third round, tying for low round of the day. Broch Larsen posted her third straight 66.

Broch Larsen, of Denmark, is winless in three seasons on the Ladies Professional Golf Association Tour and came in 89th in the season points standings. She held the 54-hole lead at the 2017 CP Women’s Open and finished tied for third.

Henderson got off to a tough start, but got back on track after an encounter with a fan. “I felt like I was playing decent golf, but it just wasn’t really going my way,” the 21-year-old Henderson said. “Then on the seventh green a little boy gave me a high five and then he continued that the rest of the round.”

“He kind of cheered me up a little bit. I think I tried to get back to even on the front nine. Going to the eighth tee I was trying to just make two birdies, get it back to even, and then see if I could go really low on the back.” AP

orts

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Monday, August 26, 2019 C3

BATANG PINOY GETS GOING P

UERTO PRINCESA City—The unpredictable weather did little to rattle the host city which rolled out the red carpet to welcome thousands of student-athletes for the Batang Pinoy National Championships.

More than 7,500 athletes and coaches from 252 local government units are in the Palawan capital where competitions in 31 sports are scattered in different venues to mark the weeklong multisport event that caters to athletes aged 15 and under, and organized by the Philippine Sports Commission (PSC) and supported by Milo.

Cloudy skies enveloped the city, with occasional rains providing relief to the afternoon heat as heaps of delegations swarmed the Speaker Ramon V. Mitra Sports Complex for the opening ceremony on Sunday.

Mayor Lucilo Bayron of Puerto Princesa had nothing but gratitude to the PSC for choosing the tourist paradise as host of the premier grassroots tournament of the sports agency.

“We are very thankful because this is an opportunity for us to showcase our capability to serve as host,” Bayron said. “We only had three months of preparations because of the election. We are lucky because we already

have existing facilities and only some refurbishments were made.”

“Different sectors of our city will benefit from this. Everyone really cooperated,” he added.

PSC Chairman William Ramirez, meanwhile, acknowledged the courage of delegations who braved the effects of Tropical Storm Ineng during their trip.

“It’s a long journey for the athletes.

But I know they are excited to be here in Puerto Princesa,” Ramirez said. “We are here to support the youth of the country. Many stories will be made here.”

At stake in the competitions are 820 gold, 820 silver and 1,395 bronze medals.

Of the 31 sports, 11 events are played straight to finals—billiards, cycling, gymnastics, judo, muay, rugby football, soft tennis, triathlon, weightlifting, wrestling and wushu.

Qualified participants from the Luzon, the Visayas and Mindanao legs will compete in archery, arnis, athletics, badminton, baseball, basketball (men/women), boxing, chess, dancesport, futsal, karatedo, lawn tennis, pencak silat, softball, swimming, table tennis, taekwondo, duathlon, indoor

volleyball and beach volleyball.

The first bulk of gold medals are expected from medal-rich athletics and swimming, with the rest of the harvest from archery, arnis, dancesport and gymnastics on Monday.

The top local government unit will receive P3 million worth of sports equipment, with the second and third placers getting P2.5 million and P2 million, respectively. The fourth and fifth finishers will take P1.5 million and P1 million, respectively.

Baguio City is a marked target as it defends the overall title it won last year in its home turf.

Ramon Rafael Bonilla

Ex-Tiger turns tough Chiefs at NCAA hoops

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N only his first year at Arellano University and in just his first round in the National Collegiate Athletic Association (NCAA), Justin Arana is already making the most out of his second shot in his collegiate career.

A seldom-used bench player in his three-year stint at University of Santo Tomas (UST), Arana has transformed into a pillar for the Chiefs and their rebuild.

The 6-foot-5 big man left his biggest mark yet in the past week, coming up big in the clutch to lead Arellano in its game-defining run, hitting shot after shot as they downed two-time finalist Lyceum of the Philippines University.

Arana wound up with 24 points, 11 rebounds and three blocks in the Chiefs’ 87-81 sinking of the Pirates, a win that put an end to their three-game skid and, at the same time, positioned him as the Collegiate Press Corps NCAA Player of the Week.

Without question, the first-year forward has been repaying his new team’s trust with stellar play.

“We talk from time to time and I remind him that he has a gift,” said Arellano University Coach Cholo Martin.

“He was consistent the whole week and today, he again delivered.”

Making his effort even more impressive, Arana actually outworked opposing Cameroonian bruiser Mike Nzeusseu in crunch time, holding him scoreless in the fourth quarter.

Moving forward, Arellano’s rising tower only promises to keep growing as a leader for the Season 95 hosts.

“Arellano University gave me the confidence, unlike at UST where I played quality minutes,” said Arana, who bested San Beda’s Calvin Oftana and Evan Nelle, as well as San Sebastian’s Allyn Bulanadi for the weekly award handed out by scribes from print and online covering the beat.

‘I VOLUNTEER!’ Clark Development Corp. (CDC) President and CEO Noel Manankil (fifth

from left, second row) with other CDC executives and officials show their support during the launching of the 30th Southeast Asian (SEA) Games Volunteer Program at the ASEAN Convention Center in Clark. Also in the photo are Pampanga Governor Dennis Pineda, Philippine South East Asian Games Organizing Committee (Phisgoc) Chief Operating Officer Ramon Suzara, Philippine Sports Commission Chairman William Ramirez, Capas (Tarlac) Mayor Reynaldo Catacutan and other Phisgoc officials. NONIE REYES

2 major international soft tennis meets up

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ARINERONG Pilipino targets a top two spot in Group A when it meets iWalk on Monday in the Philippine Basketball Association Developmental League Foundation Cup at Filoil Flying V Centre in San Juan.

The unbeaten Skippers can annex their winning run to five and claim twice-to-beat advantages in the quarterfinals if they hurdle the Chargers in the 3:30 p.m. clash.

And Coach Yong Garcia knows it.

“My team gets the tough test it needs with this game,” Garcia said.

Eloy Poligrates has been the shining for Marinerong Pilipino in the 4-0 run, as seen in its 73-51 victory over Asia’s Lashes last week.

He also has JR Alabanza and Jhonard Clarito by his side in this quest to assure the Skippers of an edge come playoff time.

It won’t be a walk in the park, though, with the Chargers also looking to boost their playoff

hopes as they currently sit with a 2-2 card.

BRT Sumisip Basilan-Sain. Clare also shoots for a playoff spot when it returns to action against winless McDavid-La Salle Araneta at 1:30 p.m.

The Saints are coming off a 20-day break, with their last game being an 85-70 whipping of Technological Institute of the Philippines back in August 5.

And for Coach Stevenson Tiu, with all due respect to his foes, he doesn’t feel like BRT Sumisip-Saint Clare has been really tested yet through his side’s first three games.

“We aren’t pushed to out limits—we still don’t know how far this team can go,” said Tiu, whose Saints’ average winning margin is 35.0 points.

“We also want to win close games while still in the eliminations for is to get our chemistry.”

Asia’s Lashes Tomas Morato (2-2) caps off the busy game day at 5:30 p.m. as it eyes to boost its playoff hopes when it collides with Hazchem (1-2).

UST, FEU, San Beda power past foes in collegiate meet

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HE Philippine Soft Tennis Association (PSTA) is organizing two international tournaments, including a test event for the upcoming 30th Southeast Asian Games.

Around 300 athletes from 12 countries will see action in the First Asian Junior Soft Tennis Championships that start on Monday, followed by the First Asian University Soft Tennis Championships (September 1 to 3) at the Colegio San Agustin Tennis Center in San Jose del Monte, Bulacan.

The First Asian University Soft Tennis Championships, which will serve as SEA Games test event, will give the country’s top netters the opportunity to test their own strengths and equally pit their respective skills against the best players from China, Japan, Mongolia, Nepal, Democratic People’s Republic of Korea, South Korea, Chinese Taipei, Thailand, Cambodia, Malaysia, Indonesia and Laos.

The last time soft tennis was played in the SEA Games was in Indonesia (2011) when the Philippines bagged one silver and five bronze medals.

PSTA President Antonio Jeff Tamayo Jr. has expressed his gratitude to the Asian Soft Tennis Federation (ASTF) for the awarding to the Philippines the organization of the two major international events, which he said is “truly a fitting accolade which reflects our managerial expertise and hard work.”

“For this achievement, I am humbled and thankful for the cooperation of our friends at the Department of Education, Philippine Olympic Committee, Philippine Sports Commission, National Collegiate Athletic Association Management Committee and the PSTA officers specially our president emeritus and former ASTF/ISTF Vice President BGen. Dr. Antonio L. Tamayo,” he added.

Skippers stake unbeaten run

U PETRON beats Foton, 28-26, 25-27, 25-21, 24-26, 15-12, to bag the bronze medal in the Superliga All-Filipino Conference.

CIGNAL SEEKS PAYBACK C

IGNAL may have bowed to F2 Logistics in Game One, but the team remains in high spirits and vowed to go all out to for the equalizer in Game Two of the Philippine Superliga All-Filipino Conference best-of-three finals.

HD Spikers’ Head Coach Edgar Barroga said their confidence remains sky-high despite suffering a 22-25, 24-26, 25-18, 25-17, 8-15 setback to the Cargo Movers in Game One at the Smart Araneta Coliseum over the weekend.

Barroga said Game Two on Tuesday at the Mall of Asia Arena would be an all-out war as they are very determined to pull off a shocking upset of the Cargo Movers that is very similar to what they did to reigning champion Petron in the semifinals.

“We’re definitely more confident now. We’re more eager to take Game Two,” Barroga said.

“After the match, we realized that we can compete with them at a higher level, which definitely boosted our confidence.”

In Game One, Cignal played with fire in its eyes.

Despite losing the first two sets by razor-thin margins, the HD Spikers stormed back in the third and fourth to force a decider, putting a mammoth crowd at the Big Dome and thousands more watching at home at the edge of their seats.

But the F2 Logistics refused to become Cignal’s latest victim.

Filipino-American spiker Kalei Mau carried the Cargo Movers to an early 9-4 spread before Ara Galang and Desiree Cheng scored to make it 13-6.

Then, Cheng delivered set point before Majoy Baron scored on a block to put the Cargo Movers a win away from reclaiming the title after losing to Petron for the past two years.

“It’s still a good motivation for us that we were able to extend the game to five sets. It shows that we can compete with them at a higher level,” skipper Rachel Anne Daquis said.

“We may have lost the match, but we still gained a lot of important lessons that we can use in our next game.”

NIVERSITY of Santo Tomas (UST) and San Beda hacked out a pair of five-setters while Far Eastern University (FEU) smothered Technological Institute of the Philippines (TIP) to boost their respective bids in the Premier Volleyball League Season 3 Collegiate Conference at the Filoil Flying V Centre in San Juan on Sunday.

Rookie Imee Hernandez took charge in the clutch and unloaded six points, including back-toback hits that gave UST a two-point cushion and the Tigresses hung tough to eke out a 21-25, 25-22, 25-19, 24-26, 25-12 victory over the surprisingly tough Saint Benilde Lady Blazers for a 2-0 mark and a share of Pool B lead with Arellano.

Hernandez, 18, fired 16 kills and finished with three kill blocks and an ace for a 20-point effort while Rachelle Roldan added 17 markers she spiked with 13 attack points, including the match-clinching crosscourt hit to end the two-hour, 11-minute duel.

Roldan capped her superb all-around performance with 11 digs and 10 excellent receptions.

Skipper Kecelyn Galdones had 15 points while EJ Laure dished out a 13-hit game, including four kill blocks, and added 11 digs for the España-based squad, which blew a 6-3 lead in the decider and fell behind at 10-11.

But the Tigresses scored three straight points after Saint Benilde’s Klarisa Abriam scored on a tip with Hernandez’s quick attack and a kill block on Mycah Go giving the Tigresses a 13-11 edge.

Gayle Pascual scored one for Saint Benilde but Hernandez came through with another quick attack to put UST at match point.

Abriam led the Taft-based squad with 14 points while Pascual got 13, and Michelle Gamit and Go scored 12 and 10 markers, respectively.

Earlier, San Beda U overcame a 0-2 set deficit and outlasted Letran in the fifth to pull off a 21-25, 21-25, 25-23, 25-8, 15-11, win for a 1-1 card in Pool A while the Lady Tams dispatched the TIP Lady Engineers, 25-13, 25-22, 25-16, to tie Saint Benilde in their side of the grouping. TIP fell to 0-2.

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Excited for this UAAP Season I AM excited for the upcoming University Athletic Association of the Philippines (UAAP) Season 82 men’s basketball tournament that opens this September 4.

It is safe to say that now, every school has its own program including the University of the East—the old power that for the longest time was in sick bay. So the seven other schools will all give reigning champion Ateneo de Manila University a tough challenge.

The other day, a friend of mine from La Salle asked me if I watch only Ateneo’s matches since I am an alumnus of the school. No, I said. Since college days, I have watched the games by all the other schools.

Back then, every single team played during match day. That meant four seniors matches.

So I was at either the Rizal Memorial Coliseum, Loyola Center, or the Araneta Coliseum for at least eight hours leaving my brain mush at the end of the day. And there was a time when the four matches would be four schools with their juniors and seniors teams playing back to back.

Sometimes the games would also be held at the old University of Santo Tomas gym or even the Ultra (today’s PhilSports Arena).

By watching those games, I was able to form proper opinions about teams, coaches, and players. Back then Ateneo and then La Salle when they entered, were the only ones with school cheers. The other schools had their bands that performed pop songs so sometimes, games had the feel of a Concert in the Park that old-timers like me would know (those free concerts at Luneta or Rizal Park).

I was there when you could walk up to the ticket office at RMC and buy a ticket to the game.

Even back then, it wasn’t only the student body or the alumni who would come to the games. When matches were held at that old hoop house along Vito Cruz, there were a lot of sports fans who saw the great Robert Jaworksi don the UE jersey. Or who saw Bogs Adornado play for UST or Francis Arnaiz for Ateneo. They would tell their stories to anyone who cared to listen. I did. Had I been a sportswriter then, I would have most certainly preserved those stories in print.

I was there were fights and rumbles were commonplace and I am not only talking about players duking it out on the court, but the melee spilling over to the stands and out on the streets.

The audience wasn’t meant for families. You didn’t park near the venue out of fear of getting your windows smashed.

Thankfully, that is all in the past. I prefer the most family-oriented fell where kids can even go.

And that leads me to today.

What I love about the college game now is that you have some of the very best coaches in the land also in the college ranks. There’s Tab Baldwin of Ateneo. Franz Pumaren of Adamson. Aldin Ayo of UST. Olsen Racela of FEU. Jamike Jarin of NU. The competition is great and the atmosphere is second to none in Philippine sports.

This Season 82...is it a foregone conclusion that Ateneo will romp their way to another title? They are still the prohibitive favorites but they will face a stiff challenge from the University of the Philippines that can also win it all. Adamson and La Salle are loaded.

The University of Santo Tomas and National University are much better. Far Eastern University has a young team, but you cannot discount them at all. Even the University of the East under head coach Joe Silva has done a great job of recruiting.

It is going to be great watching this season unfold.

SUMMIT WINNER Rookie pro Korean Hwang Min-jeong (second from left) holds her

trophy after edging Chihiro Ikeda by one to claim The Women’s Championship at Summit Point crown recently. With her are (from left) organizing Pilipinas Golf Tournaments Inc. Executive Director Narlene Soriano, Summit Point Golf and Country Club President Robbie Leviste and Summit Point General Manager Vic de Guzman.

YOUTH BASEBALL GETS MORE ACTIVE Sports W BusinessMirror

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| Monday, August 26, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LITTLE LEAGUE UP BY 4 TEAMS T

HE Little League World Series (LLWS) is getting bigger.

And a team from Cuba will be making the trip to the tournament no later than 2022 under an expanded format announced Saturday.

The expansion is set for 2021, bringing the number of teams at the Little League Baseball World Series from 16 to 20. Also, two teams will be added to the Softball World Series, raising that total to 12.

Cuba, Panama and Puerto Rico are to gain direct entry to the LLWS on a rotating basis, with each having a chance two out of every three years. When those countries do not have direct entries, they will play through the Caribbean region, as they do now.

Cuba was eligible for the Little League World Series for the first time this year, but got knocked out of the Caribbean regional tournament. Little League President Stephen Keener said in a news conference that Cuba registered about 600 Little League teams.

“That’s very comparable to what we have in Panama and Puerto Rico,” Keener said.

The expansion will allow for two more US teams every year. Those bids will come from two new regions: the Mountain region will include Montana, Wyoming, Utah and Nevada; the Metro region will be made up of New York, New Jersey, Connecticut and Rhode Island.

Keener said the LLWS will keep its modified double-elimination format but will add a day of play because of the larger field.

Also, Little League announced a $15 million improvement project at its campuses in South Williamsport and Portland, Oregon. The work will help accommodate the expansion while improving parking, restrooms and gift shops.

Volunteer and Lamade stadiums will not undergo major changes, Keener said.

“We’re excited,” Keener said. “By shrinking a number of regions, we’re going to be giving kids in number of regions a greater opportunity to get to Williamsport.” AP

DAVID FOX (center) with his sons Dewey (right) and Jimmy gather their equipment as they wrap up practice at a baseball field in northeast Washington. AP

Parkour worlds make debut in Hiroshima

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AUSANNE, Switzerland—The International Gymnastics Federation (FIG) says Hiroshima will host the first world championships of parkour, moving ahead with its disputed control of the free-running sport.

The inaugural worlds are scheduled in April 2020 in the Japanese city which also staged the first official parkour competition organized by the gymnastics body last year.

The Olympic-recognized FIG’s ambition for parkour— running, jumping and climbing on street furniture and architecture—is described as a hostile takeover by the Parkour Earth group of national organizers.

FIG wants parkour

to feature at the 2024 Summer Games in Paris as the International Olympic Committee looks to add more urban events appealing to a young audience. Parkour Earth argues that codifying and commercializing their sport runs against its original spirit.

Parkour was incorporated as an official FIG discipline last December despite a protest campaign that used the hashtag #WeAreNotGymnastics. AP

GOAL!

San Jose Earthquakes forward Chris Wondolowski (left) celebrates with defender Guram Kashia after scoring a goal against the Vancouver Whitecaps during the first half of their Major League Soccer match in San Jose, California, on Saturday. AP

ANTHONY YARDE (left) and Sergey Kovalev of Russia exchange blows during their light heavyweight title bout. AP

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Kovalev stops Yarde to retain WBO light heavyweight title

HELYABINSK, Russia—Sergey Kovalev knocked out Anthony Yarde on Saturday to retain the World Boxing Organization light heavyweight title in his first defense since winning back the belt in February.

Kovalev was rocked by heavy punches from the British challenger in the eighth round but Yarde got tired, allowing Kovalev to floor him with a left jab in the 11th.

After Yarde’s eighth-round flurry, Kovalev’s trainer Buddy McGirt warned the Russian veteran that he would throw in the towel if he kept taking punishment.

It is one month since another Russian fighter trained by McGirt, Maxim Dadashev, died from injuries sustained in the ring. The light welterweight suffered a brain injury against Subriel Matias despite McGirt intervening to stop the fight when Dadashev took heavy punches to the head.

“It’s hard for me now when everyone is celebrating, and I have to think about him,” Kovalev said, referring to Dadashev.

The previously unbeaten Yarde (18-1) hadn’t gone beyond seven rounds before Saturday and appeared exhausted in the latter stages. He has had just 12 fights in the amateur ranks and 18 as a professional.

It was the 16th consecutive world title fight for Kovalev (34-3-1). He lost his belt to Eleider Alvarez in August 2018 but won it back in a rematch six months later.

Kovalev, who was hugged in the ring by his mother at the end, was fighting in Russia for only the fourth time as a pro. He could now be heading for a big-money bout with middleweight champ Saul “Canelo” Alvarez.

“Canelo is a great fighter and if he wants to fight, I am ready,” he said. AP

By Ben Nuckols

The Associated Press

ASHINGTON—David Fox and his wife, Mary Ann, have a rule for their sons, 11-year-old Dewey and eight-year-old Jimmy: They have to play a team sport. The kids get to choose which one. Dewey tried soccer and Jimmy had a go at flag football, but for them, nothing compares to baseball.

“They always came back to baseball,” David Fox said.

“Every spring or fall we ask, ‘Do you want to try something else?’ And they say, ‘No.’” Dewey and Jimmy are not alone: Over the past six years, participation in youth baseball has been on the rise.

While no one is saying the erstwhile national pastime is returning to its glory years, Major League Baseball (MLB) is encouraged that kids are returning to baseball and sticking with it. Between 2013 and 2018, the number of US kids playing baseball and softball combined increased by nearly 3 million, according to annual surveys by the Sports Fitness & Industry Association (SFIA). During that same period, participation in soccer and football declined, and basketball increased only slightly.

“The increase in baseball participation is real, there’s no question about it, and it’s substantial. It’s statistically significant without a doubt,” said Tom Cove, president and CEO of the SFIA. More than 25 million kids played baseball or softball in 2018, and nearly 15 million of those were “core” players who played 13 or more times in a year. The number of participants in youth football—including tackle, touch and flag—was down by nearly 1.7 million over the same stretch, and soccer participation dropped by nearly 900,000.

According to the Aspen Institute, which promotes youth sports participation and uses SFIA data, 13.6 percent of kids ages 6 to 12 played baseball in 2018, a 3 percent increase from 2015. Baseball was the second-most popular sport for kids in that age group, after basketball, which had a 14.1 percent participation rate.

The 2018 numbers were released this month as 11- and 12-year-old ballplayers gathered in South Williamsport, Pennsylvania, for their annual ESPN-televised showcase at the Little League World Series.

David Fox coaches and his kids play in Washington’s Capitol Hill Little League, which didn’t even exist a decade ago. It was founded in 2011, and has grown from 120 players in its initial season to more than 640 baseball and softball players this spring.

Fox said a well-run Little League with engaged parents can build loyalty to the sport.

“My son’s group of friends are all baseball players, all kids he has ever played baseball with or continues to play baseball with, so I think the thing I love about Little League is it’s community-based. Everybody lives on Capitol Hill, goes to their local schools and lives within a few minutes’ drive,” Fox said. “Our circle of friends are the families I coach with, the parents we’ve played with for the last five or six years.

We’ve vacationed with them, go to restaurants with them.

We hang out.”

It’s clear, too, that some parents are looking at baseball as a safer option than football, given research that shows the vulnerability of younger players to brain injuries.

“That’s definitely part of the appeal,” said Emily Cichy, who has two boys who played in Capitol Hill Little League before the family moved to Seattle. “Although both soccer and baseball have their own concerns, we are not interested in our kids playing football. If they really expressed an interest, we’d have a conversation about it.”

Baseball participation has also benefited from the growth of travel ball, said Tony Reagins, who leads MLB’s development group for baseball and softball. But travel ball is much more expensive and time-consuming than Little League or other recreational leagues, and there is concern about baseball becoming a niche sport for wealthier families that can afford to put their kids in travel programs and pay for private coaching.

“I would be naive to say the cost of playing in a travel ball program is not insignificant. There is a cost associated with that,” Reagins said. “We need to continue to create programs that eliminate the cost factor.”

The increase in participation correlates with several youth baseball programs MLB has launched or sponsored in recent years. For the Play Ball program, MLB joined with the US Conference of Mayors to introduce kids to the sport. Another initiative, Fun At Bat, from MLB and USA Baseball, provides free baseball gear to physical education classes to help kids learn basic skills. Fun At Bat could reach up to 3 million kids in the US, Mexico, Puerto Rico and the United Kingdom during the upcoming school year, according to MLB. MLB also has the long-running RBI program, which stands for Reviving Baseball in Inner Cities. It has more than 175,000 participants in 217 leagues in underserved communities.

Whether these efforts can turn kids into devoted baseball players will be a factor in the sustainability of youth baseball’s growth.

“To be a baseball player you have to be on a team, have to be in a league. The big question about these numbers in baseball is how are they going to translate this new interest, this new exposure, to sustainable leagues,” Cove said. “If it’s too expensive, there’s clearly going to be an issue.”

Fox said Capitol Hill Little League, based in a wealthy urban neighborhood, is not as diverse as it should be. The league uses fields belonging to neighborhood schools that only supply a handful of players.

“We need to work harder at reaching out to more minority families and more families that need a little bit of help paying the registration,” he said. “We will never turn a child away from playing. We have money to use for scholarships. What we need to do is make sure the community knows money is no object. If you want to play baseball, you can play baseball.”

Compassionate God

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EAR God, You nourish us through our friendship with Jesus and one another. In faith we pray: God in Your great love, receive our prayer. Advance Your Church’s work of evangelization and ecumenical dialogue. Give safety and joy to lifeguards, and all who recreate in the water and in land. Gift police officers and security personnel with prudence, safety and right judgment. May God strengthen our hearts and make us increase and abound in love for one another and for all, through Jesus and by the power of the Holy Spirit. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

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Holiday dressing by Boyet Fajardo

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T took him a while but fashion designer Boyet Fajardo is having a smooth, unimpeded comeback. After a meltdown at a department store and a series of health problems, Fajardo is once again gaining a foothold in the fashion scene.

A few seasons ago, he reinforced his plussize clothing business and his advocacy of creating stylish options for the neglected CD mass market.

“Ang tagal ko na sa business, and I don’t want to rely on the famous names. Basta ako, I’m doing all of this to please God and not them. I am doing this so God will be so pleased that I’m giving back. It’s payback time,” Fajardo said in a previous interview. “I had made a name doing plus-sized clothing, but now I’m also advocating for persons with disability rights, as I was also born with polio, and working against fashion discrimination on a bigger scale.”

For his newest collection, he went back to his origins: made-to-order dresses. He calls it “Holiday Dazzlers,” suited for a redcarpet affair and a dramatic entrance. The silhouettes were made to embrace the female form and enhance the feminine side of a woman. He used luxurious fabrics, such as silk, gazaar, stretch satin and neoprene. He

embellished his creations with crystals and different kinds of borealis.

As his creative process goes, he adapts the same ethic when making whether readyto-wear (RTW) or made-to-order clothes.

“The design should be practical, wearable, timeless in nature. The designs that we make are meant to last if well taken care of, because of our strict quality control and our love for our craft,” Fajardo said. “The men are very traditional and practical though with a twist, like, presently, the look of the male suit is inspired by David Beckham, which is widely accepted by the new male generation.”

However, he stressed, “I only do RTW clothes specifically for the plus-sized and luxe wear for their slim counterparts. We also do men’s clothing but only focus on making suits. We basically follow trends from the dictates of the world’s fashion capitals.

Millennials today have different perceptions of what is basically their fashion instinct, somewhat like easy does it, where comfort and individuality are most important.”

He wouldn’t have lasted in the fashion business, Fajardo emphasized, if he didn’t find it lucrative. At present, his clothes are sold at SM, Robinsons, Gaisano and all the major department stores across the country.

“After four decades in business, I can and I always say I don’t compete with anyone, but to inspire the newbies and provide them with the correct positive mental attitude to last in this field,” a humbled Fajardo offered. “This feeling has made me more inspired and I'm grateful that my employees are always with me in all my plans.” n PHOTOGRAPHED: RENJIE TOLENTINO MODELS: DR. MIGUEL MASIGAN, KRISTIN BACUNAWA AND CARMELLA AMDS LOCATION: TAGAYTAY HIGHLANDS

STR8 out of a dream: Giannis talks family, MVP speech with Edward IN a groundbreaking meetup between two modern men for top fragrance brand STR8, the “Cheerful Charmer of Germany” Edward Barber traveled to Greece to chat with the “Greek Freak” Giannis Antetokounmpo.

The 24-year-old basketball phenom and 2019 NBA Most Valuable Player (MVP) was a virtually unknown prospect who has evolved to take the world of sports by storm, inspiring an entire generation to never settle for anything less than great.

During his chat with Edward, Giannis opened up about his love for family, his emotional MVP speech, what it means

to represent Greece at the international basketball stage, and his experience from visiting the Philippines for the first time in 2017.

The meeting between the two stars marks the first time the local and global ambassadors of STR8 collaborated for an exclusive interview.

The full video of the talk is set to be uploaded on STR8 Philippines’s Facebook page in the coming days.

STR8 has been successful in Europe for over a decade, and is making great strides in the Philippine market with seven scents that represent every modern man’s persona.

AND THEN SOME: IT’S ALL ABOUT MOISTURE D4

Monday, August 26, 2019

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Monday, August 26, 2019

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Keke Palmer, 26; Macaulay Culkin, 39; Chris Pine, 39; Melissa McCarthy, 49.

HAPPY BIRTHDAY: Set high standards and put a practical strategy in place. Positive change can be yours if you go about it the right way. Show compassion and understanding, and you will gain support and respect in return. Reconnect with people you are sorry you lost touch with, and reinstate interests that fell by the wayside. Reclaim your dreams, hopes and wishes. Your lucky numbers are 7, 11, 20, 24, 31, 38, 43.

ARIES (March 21-April 19): Do your own thing. Don’t share personal secrets, plans or ideas with your peers, relatives or anyone who may hinder your progress. Refuse to let an emotional confrontation lead to a permanent change that you don’t want. ★★

TAURUS (April 20-May 20): A change will lift your spirits. Take a day trip or get together with someone you respect or look to for advice. Share your plans for the future with someone you love. Don’t overspend or give in to anyone trying to manipulate you. ★★★★

LINEN LANE Striped print shorts from Forever 21

VERSATILE sweater-knit crop top from Forever 21

DAINTY DAYS Floral embroidered crop top

SHEER femininity in white from Forever 21

Get a white-hot wardrobe update L

CANCER (June 21-July 22): Channel your emotional energy into something that counts.

Keeping the peace, looking for love and taking better care of your mind, body and soul will encourage better relationships with others, as well as enhance your personal life. ★★★

LEO (July 23-Aug. 22): Think outside the box. Look for solutions that will encourage you to recycle, repair and reuse what you already have. Change doesn’t have to cost a bundle.

What you save can be put toward something you long for. ★★★

ITTLE white dresses are here to stay, and it’s time for us to get on board with American retail brand Forever 21’s collection of all things white and wonderful—dresses, bottoms and tops—in relaxed silhouettes and dainty details.

Look cool and crisp for any and every moment with the white-on-white wardrobe trend. An easy yet stylish base for pairing and layering, adding whites to your wardrobe make dressing for school, work, or for just about anywhere a breeze.

From Forever 21 (www.facebook.com/Forever21PH), find the perfect white dress from maxis to minis in stylish necklines and silhouettes. Lace and crochet trims make for a sweet daytime ensemble while the itty-bitty white dress finally gives the ubiquitous “LBD� some well-deserved rest. Instantly look partyready in form-hugging minis with stylish button closures and cheeky cut-outs. n

VIRGO (Aug. 23-Sept. 22): Get together with people who are heading in the same direction. Share ideas, and plan your next move. Personal and physical improvements will be good for your mental, emotional and physical state of mind. Romance is favored. ★★★★

LIBRA (Sept. 23-Oct. 22): Think matters through carefully before making a move or saying something that will back you into a corner. Someone you have gotten along rather well with in the past will offer you sound advice. ★★

SCORPIO (Oct. 23-Nov. 21): Sort out your next move, put your strategy in place and take a passionate plunge into the future. Go after what you want; put to rest what is no longer part of your vision. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Cut to the chase, say what’s on your mind and keep moving forward. If someone is mendacious, know enough to walk away. Trust in what you know and what you are capable of doing. ★★★

AIDY BRYANT TRIES HER HAND AT FASHION WITH PLUS-SIZE LINE ACTRESS Aidy Bryant has rolled out the start of a new plus-size fashion line named for her great aunt, but the Saturday Night Live star is starting small with just one dress in three blue styles, a solid, a stripe and a gingham. AP

GEMINI (May 21-June 20): Choose your friends wisely. Get involved in ventures that are within your means, and based on tangible facts and figures. Walk away from people who are excessive and situations that are explosive. Protect against insult or injury. ★★★

CAPRICORN (Dec. 22-Jan. 19): Size up whatever project you want to pursue, and get this party started. Change begins with dreams, plans and actions. Turn on the charm, and pull in the best of the best to help you reach your goal. ★★★

NEW YORK—World, meet Pauline.

Aidy Bryant has rolled out the start of a new plus-size fashion line named for her great aunt, but the Saturday Night Live star is starting small with just one dress in three blue styles, a solid, a stripe and a gingham.

She dubbed the shirtdress the Lovington and it sells for $175 on paulineny.com.

In a video on the site, Bryant explains, “I’ve been a fat lady my whole damn life� and was always looking for clothes. She wanted easy, simple, cool and comfortable but couldn’t find what she liked.

Then stardom hit and she enjoyed access to stylists and tailors for custom looks.

Bryant says that was life changing, so she is partnering with her stylist, Remy Pearce, to offer her vibe to others. AP

AQUARIUS (Jan. 20-Feb. 18): Think your way through each step of any dilemma or decision you have to make. Ask questions, look for opportunities and choose to motivate those around you. Your action can and will make a difference.

Follow your heart. ★★★

EFFORTLESSLY CHIC White

crochet-trim lace-up cami dress

PISCES (Feb. 19-March 20): Keep your life simple, and avoid exaggeration, indulgence and people who want too much from you.

Focus on personal health, relationships, and how you can improve your life and the lives of those you care about most. Love is in the stars. ★★★★★ BIRTHDAY BABY: You are diligent, persistent and convincing.

You are engaging and charismatic.

‘it takes all kinds’ BY LEE TAYLOR The Universal Crossword/Edited by David Steinberg

ACROSS 1 Jon, for Garfield 6 Hoagie seller 10 Helps at checkout 14 Took the wheel 15 Molecule building block 16 Bone near the radius 17 Lessened 18 Fastidious dresser 20 Mata Hari, for one 21 Long-eared animal 23 Existing from birth 24 A little, in music 26 Composer Franz 28 Blabbermouth 31 “Hometown Proud Super-markets� chain 34 Lyricist Lorenz 35 Mountains around Zermatt 36 Servers’ handouts 38 Tattoo artist 40 One-time connector 41 ___ & Young 42 Juanita’s January 43 Fictional Flanders

45 46 47 50 51

Western alliance ___ and away Gullible sort Thanksgiving Day Parade sponsor Former show about a high-school choir 52 Homeland star Danes 55 ___ polloi 56 Sphere, poetically 59 Jack-of-all-trades 62 It doesn’t grow on trees 64 Build-it-yourself furniture chain 65 See 27-Down 66 Dazzling effect 67 Church benches 68 Brink 69 Fashion sense DOWN 1 Poems of praise 2 Prepare a gift 3 Busybody 4 “Let Me Blow Ya Mind� rapper 5 Censor confidential information 6 Papas 7 H, to Hera

8 9 10 11 12 13 19 22 25 26 27 28 29 30 31 32 33 37 39 44 48 49 50 52

Take a bough?

Full of mischief Charred Alan of M*A*S*H Pesky little fly Of sound mind Digestion catalyst Tofu source, to a Brit Furry swimmer Frequent carry-on items With 65-Across, “No worries�

Top dog at the firehouse Barbera’s animation partner Like sweaty palms Titularly, or how the starred answers exist?

Verve ___ Martin (luxury car) Muppet with a rubber duckie Prayer beads Toy building block Glacial epoch Covers with goo, like in Ghostbusters Mythical king with a golden touch Intel product

53 54 55 57 58 60 61 63

Crater ___ National Park With a fresh start Jekyll’s alter ego Not virtual Computer memory unit Show agreement Man’s best friend Tenth mo.

Solution to Friday’s puzzle:

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Gyllenhaal attributes conquering fear to Oscar-winning doc

By John Carucci The Associated Press NEW YORK—Few performances are as daunting as the one-person play.

That’s why Jake Gyllenhaal had to find a way to conquer that fear when he took on the role of Abe in the second half of Sea Wall/A Life.

“Before I did it, I was terrified,” Gyllenhaal said of A Life, after the play’s Broadway opening. Tom Sturridge stars in Sea Wall, the other half of the pair of one-act monologues.

Gyllenhaal admits that nervousness extended to the rehearsal room. But then he found confidence in an unlikely place. The story of Alex Honnold’s 3,000-foot (914-meter) climb of the El Capitan rock formation at Yosemite National Park.

“I was sort of quaking in my boots thinking about it. Then I saw Free Solo, that documentary about the free climber Alex Honnold that won the Academy Award. Amazing, amazing documentary, and I thought to myself, if he can do that without any rope I can do a monologue. And then that was it,” Gyllenhaal said.

From then on, it was smooth sailing.

It was a little different for Sturridge. “I feel like weirdly—like before I walk on stage I feel fear. But I feel safest on the stage,” Sturridge said.

Both actors say the lack of an onstage partner to play off of can add to the stress; there isn’t a safety net if you blow a line. But Sturridge uses the audience.

“Normally when you’re on stage you’re pretending to be in a room and pretending like you’re in Russia in the 1920s and you’re pretending the audience don’t exist. But with this, I’m having a conversation with real people who are different every night. And if I blow a line, then we just change the conversation,” Sturridge said.

Sea Wall/A Life, a pair of plays written by Nick Payne and Simon Stephens, respectively, are tragic comedies that deal with love and loss.

Gyllenhaal says the emotional value shifts with each audience.

“It’s very emotional through all of it. But it changes every night. It’s different. Sometimes I’m telling the story, I’m just telling it. Sometimes things happen.

Sometimes I hear someone in the audience have an emotional response. He was laughing or crying, and it makes me feel something,” he said.

Sea Wall/A Life plays on Broadway at the Hudson Theater until September 29.

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Wendell Ramos is secure in his happy place T

ELEVISION leading man Wendell Ramos started his career in show business almost the same time we started ours as a newspaper journalist. It was in the mid1990s when we met him through our dear common friend, the late and much loved Douglas Quijano, who also served as Ramos’s manager for a very long time.

We recall Ramos telling us that he was both excited and nervous when he was about to start appearing on the popular GMA gag show Bubble Gang. He blended in right away with his costars which eventually led him to be cast as one of the actors that were groomed as future matinee idols in the teenage series Click.

He continued to explore the different facets of the acting business after the millennium, as technology and science advanced further. We would see him in different movie genres, shifting from drama to romantic comedy to action with the ease and commitment he would also give to television.

In 2004, Ramos accepted an offer to do a Joel Lamangan movie that would pair him with the then young superstar Judy Ann Santos, who played the titular role in Sabel. Ramos gave a very calm and collected performance that merited him a difficult-to-win Urian best supporting actor trophy, much to his surprise.

We remember talking to him about it in a private get-together a few weeks after his big win, and he told us that he was already OK with the nomination, knowing how exacting the process of the Manunuri members is in choosing their nominees, and how tough the competition was that year in his category.

As years passed, Ramos also continued to take care of his physical gifts and even up to this day, people would remember his derring-do in several of those unforgettable Bench underwear fashion shows where

FROM left: GMA Network Senior Vice President for News and Public Affairs Marissa L. Flores, Born to Be Wild host Doc Ferds Recio, GMA Network Chairman and Chief Executive Officer Felipe L. Gozon, Born to Be Wild host Doc Nielsen Donato and Senior Assistant Vice President for Public Affairs Arlene Carnay.

‘BORN TO BE WILD’ HOSTS RENEW CONTRACT WITH GMA BORN to Be Wild hosts and expert veterinarians Doc Ferds Recio and Doc Nielsen Donato recently renewed their commitment to GMA Network and to the environment in a contract signing held on August 14.

Present during the signing were GMA Network Chairman and Chief Executive Officer Felipe L. Gozon, Senior Vice President for News and Public Affairs Marissa L. Flores, Senior Assistant Vice President for Public Affairs Arlene Carnay, Corporate Affairs and Communications Vice President Angela Javier Cruz, Corporate Communications Assistant Vice President Jojo Aquio, and Born to Be Wild Senior Program Manager Angeli Atienza were also at the event.

Gozon lauded the program’s dedication to the environment, commending Doc Ferds and Doc Nielsen’s expertise, as well. “Si Doc Ferds at si Doc Nielsen [ay] hindi lamang beterinaryo, kundi beteranong TV personalities. Sila lang ang merong ganitong program sa television sa atin at ang maka-12 taon sila ay nagpapatunay na talagang top-rating ang kanilang program at maraming awards ang dalawang ’yan,” he

Monday, August 26, 2019

said.

The Born to Be Wild hosts greatly appreciated having no less than Gozon gracing their contract signing with the network.

“Born to Be Wild is a specialized show and there’s a niche for this type of show. There’s a need also for a program like this and ’yun ang advocacy [namin].

Nagpapasalamat kami na binigyan [kami] ng pagkakataon na gumawa ng ganitong palabas na nagpo-focus sa environment natin,” Doc Nielsen shared.

“We’re very honored and very thankful,” said Doc Ferds. “Twelve years na ang Born to Be Wild. We want to keep on doing what we love to do. We are very happy that we are the ones chosen to represent ’yung advocacy ng GMA for the environment and wildlife, and to share our learnings with the people.

The thrust of the program is to make it more palatable or mas madaling maintindihan ng mga kababayan natin,” he added.

Watch more stories on the environment and continued public service from the country’s leading nature and wildlife show Born to Be Wild, which airs every Sunday, 9 am, on GMA.

Ramos would effortlessly steal the thunder from bigger names just by strutting his stuff on stage.

He was,and has always been comfortable by being himself in choosing the kind of roles he wants to portray on the different platforms of entertainment. A person of much introspection, Ramos is known to be a man of few words, consistently replying to questions from the press with both sincere and straight-forward short answers.

He was also very respectful to the women who were rumored to be in romantic liaisons with him, often just flashing his signature impish smile to the nosy media when ambushed to confirm or deny the issues at hand.

Now fast-forward to almost 25 years later, Ramos is still very much active in the acting business. He can work for any network that will offer him juicy roles, and he is still know to be a team player to this day.

Technically, Ramos is the main lead actor in the new GMA drama series Prima Donnas, which serves as the launching pad of three teenage actresses. He is cast as the father of these girls as they face the tides and trials of growing up. Esteemed actress Gina Alajar directs this new show for the network’s afternoon prime-time slot.

“I am very fortunate that work comes in regularly for me,” he shared, adding, “I am one of the few who can work comfortably in all the major networks that engage in healthy, happy competition. I try to balance work and my personal life, knowing that I should make time for my family because they always should come first.”

Ramos turned 41 recently and he told us that he has a lot to be thankful for. “I am in that phase when I can choose the work that I want. I guess it is something that actors can achieve after years of working hard, and being passionate and professional about the kind of work output you give. My goal is simply to live comfortably, and to provide my family with a good life. I think I have been in my ‘happy place’ for a few years now, and I look forward to being in this state for many more years to come.” n

WENDELL RAMOS

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It’s all about moisture CAMBERT Pilipinas Head of Marketing Jenny Arcellana

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APANESE skin care sticks to the most important thing, which is moisture.

If there is one word that best describes the Japanese aesthetic, it is “clean.” Japanese skincare regimen will definitely not reach 10 steps. It will not even reach five steps.

If there is one extra skin-care step that the Japanese have, it is skin lotion, which is like a cross between a toner and a moisturizer. The Japanese are very kind to their skin. One of the most popular Japanese brands for skin lotion is Hada Labo.

We used to buy Hada Labo Hydrating Lotion abroad, or ask family members or friends to purchase it for us. The good news is, that it is now available in the Philippines at Watsons, distributed by Cambert Pilipinas.

Hada Labo Hydrating Lotion combines different types of hyaluronic acid (HA) in the best ratio ever to achieve best moisturizing efficacy, and prepare skin for enhanced absorption of skin-care ingredients. Hada Labo Hydrating Lotion is fragrance-free, low irritation, and has balanced pH levels and a refreshing texture.

The multi-awarded Hada Labo Hydrating Lotion has been the No. 1 facial lotion in Japan for 12 consecutive years, and reached over 55 million units of sales in Japan. Sales across Asia had become hugely successful: it is one of the Top 3 drugstore skin-care brands in Taiwan, Singapore and Malaysia.

In the Japanese skin-care routine, lotions are used before the moisturizer and after the toner. For those who do not apply toner after cleansing, the lotion adds a light layer of moisture that serves as a base for the richer products applied later on.

With regular use of Hada Labo Hydrating Lotion, you will see plumped fine lines, softened bumps and dry patches, and a lighter skin barrier. I’ve been using this on and off for a while and it’s a solid product.

During the launch of Hada Labo in the Philippines, Dr. Naelong Wang said hyaluronic acid is a humectant, a moisture-binding hero ingredient that makes the skin “bouncy.”

“Oil is different from moisture,” said Wang. This means your skin can be oily but flaking in parts. This is a sign that skin is dehydrated and is producing a lot of oil to compensate for the lack of moisture.

Hada Labo is known for providing intense hydration to the skin by harnessing the power of HA, a substance naturally occurring in the human body that attracts and binds water. Formulated with Japan’s upgraded formula and High Performance Penetration and Deep Moisturizing, Hada Labo actively infuses four types of HA to fully hydrate skin from surface to inner skin

layers for significantly soft, smooth and supple skin, and to prepare skin for enhanced absorption of skincare ingredients.

Hada Labo, which translates to “skin laboratory” in Japanese, is known for affordable, well-formulated products with no unnecessary additives to burden the skin—no mineral oil, no colorants, no fragrance and no alcohol. With their launch in the Philippines, they will be bringing in some of their most popular products, including: n Hydrating Lotion is a combination of four types of hyaluronic acid that deeply hydrates skin, helps in preserving skin’s optimum moisture balance and prepares skin for enhanced skin-care ingredients absorption. n Hydrating Face Wash helps restore and preserve skin’s natural moisture, leaving it silky smooth. Its fragrant-free, gentle, and balanced skin pH formula causes low irritation for skin that is comfortably hydrated and refreshed. It contains double-HA for better and long lasting moisture on the skin. n Hydrating Light Cream is a refreshing lightweight cream that gives skin an instant surge of suppleness and nongreasy comfort. It is enriched with essential nutrients such as aloe vera and other moisturizing natural botanical for deep nourishment. It also helps prevent moisture loss while boosting skin’s hydration level through its Aqua Oil Volume Matrix technology. n Hydrating Water Gel is enriched with ceramide that forms a moisture-protecting shield. It has an ultralight, watery-feel gel texture for a “breathable” feeling. n Hydra & Whitening Face Wash is formulated with Brown Algae Extract, a natural seaweed extract that helps replenish skin with minerals and vitamins to draw water into skin more efficiently. It has the natural grape extract, Resveratrol, that is high in antioxidant making the skin become brighter and fairer. n Deep Clean & Pore Refining Face Wash is formulated with Japanese Green Tea extract that helps control and remove excess oil, and Bentonite Clay to effectively absorb dirt and impurities from pores.

You can get Hada Labo products at Watsons stores nationwide and online at www.watsons.com.ph. n

Pop Studio opens flagship store at Glorietta STEPPING outside the confines of the online space and into a physical store with interiors as vibrant as the brand is the duality makeup line

Pop Studio.

Bannered by pop star Sarah Geronimo, Pop Studio opened its flagship store on July 28 at Glorietta 1, where cosmetic fanatics can get a feel and experience the full colors of the products from the fast-rising beauty brand.

Pop Studio is centered on the concept of duality in terms of day and night wear, as well as beauty and affordability combined. Products are packaged in two-in-one convenience, and are all priced below P400.

The offerings include the Majors Brow Pencil and Brow Mascara, Covers Foundation Stick and Liquid Concealer, and the Tones Blush and Contour.

The products, among many others, are available at the new Glorietta flagship store, the interiors of which have been designed with warm colors from cherry red to sunset orange.

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Monday, August 26, 2019 E1

8 ways leaders delegate successfully

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By Deborah Grayson Riegel

OR many leaders, delegating feels like something they know they should do, but don’t. Senior leaders often struggle to decide what they can delegate that would actually be helpful to them, or how to delegate responsibility and not just assign tasks, or what delegated responsibilities could serve as a learning and growth opportunity for others. practices employed by leaders who delegate successfully: 1. They pick the right person—and it isn’t always about capability. Successful delegators also explain why they chose the person to take on the task.

2. They’re clear about what the person is responsible for and how much autonomy she has.

3. They describe the desired

By Kate Isaacs & Deborah Ancona

A

LL organizations have the ability to be smarter than the sum of their members’ intelligence and talent. Unfortunately, most are actually dumber.

The good news is there are a handful of practical steps to boost collective intelligence.

n Create tools that allow everyone to communicate strategically about innovation WWW.FREPIK.COM

In addition, senior executives themselves may not have had role models along the way to show them how to delegate successfully. And, of course, there’s the perceived reputational risk.

Before leaders can successfully delegate, they need to understand the nature of their own resistance. Once a leader has begun to shift his or her mindset, it’s time to start shifting behaviors. In my own work as a leadership coach, I have identified eight

results in detail.

4. They make sure team members have the resources they need to do the job, whether it’s training, money, supplies, time, a private space, adjusted priorities or help from others.

5. They establish checkpoints, milestones and junctures for feedback.

Preventing opioid abuse shouldn’t mean ignoring patients’ pain

By Subhash Jain

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3 ways to build a culture of collaborative innovation

ROM lawsuits by several states against the manufacturers of opioids to criminal prosecutions against pharmaceutical executives, much has been made about pain medications and their misuse. In many cases, these are necessary actions to address predatory practices that have hurt patients. Unfortunately, if you just pay attention to these headlines, you’re likely to miss an important fact: Pain medications are an important and medically necessary part of many patients’ treatment.

In 2016, the Centers for Disease Control and Prevention issued a voluminous set of guidelines that were meant to set new standards for opiate use. The standards were, at their core, well intentioned.

Given the incredible and growing burden of opiate abuse, the CDC standards were a call for heightened rationality in opiate prescribing.

The CDC was forced to issue a clarification of its own

guidelines after several studies showed that, in the wake of those guidelines’ release, the number of patients who could not get insurance coverage for their pain prescriptions tripled. Similarly, many more patients reported they were unable to find pharmacies willing to fill or refill their prescriptions.

Things got so bad, in fact, that more than 300 medical experts, including three former White House drug czars, took the unusual step of writing a letter to the CDC in response to these guidelines in which they said the guidelines were harming patients.

In my own practice, last year, I saw an insurer refuse to cover pain medication for a patient with chronic back pain.

Remarkably, the insurer was happy to approve costly, repetitive back surgeries that even the surgeon wasn’t sure would be effective. Cancer patients and patients at the end of life, in particular, need the opportunity to live the end of their lives pain free. Isn’t that what

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

we would all want for ourselves and our loved ones?

Confusing and arbitrary prescription guidelines are not the answer. While insurers, pharmacies and health-care delivery systems should nudge physicians in the direction of sound clinical decision-making, they must also be careful not to turn us back to an era when patients are denied access to the care they need.

We must curb our rhetoric and acknowledge that opiates are appropriate medicines for some types of patients.

I’d be professing woeful ignorance were I not to acknowledge the medical profession’s complicity in the epidemic of opioid abuse in the United States. But we are also key to the solution. We can’t retreat to and again be complicit in denying access to pain care to patients who need our compassion and our care.

Subhash Jain was the founding chief of the pain service at Memorial Sloan Kettering Cancer Center in New York.

6. They encourage new, creative ways for team members to accomplish goals.

7. They create a motivating environment. Successful delegators know when to cheerlead, coach, step in, step back, adjust expectations, make themselves available and celebrate successes.

8. They tolerate risks and mis-

takes, and use them as learning opportunities.

Delegating well helps leaders maximize their resources, ensuring that they’re focusing on their highest priorities, developing their team members and creating a workplace where delegation isn’t just expected—it’s embedded in the culture.

Deborah Grayson Riegel is a principal at The Boda Group.

How to avoid groupthink when hiring

By Atta Tarki

T

HERE is wisdom in crowds when it comes to spotting talent. But without careful orchestration, groups can make bad decisions, too.

When individuals do not think long and hard about their own opinions before a group discussion, they are likely to gravitate toward the view that seems most popular; even with a good moderator who promotes psychological safety and dissent, freeform discussions reduce the variety of judgments, and this, in turn, suppresses useful discussion that would otherwise occur.

To make true group decisions about candidates, I advise hiring managers to follow a rigorous process, to ensure that interviewers maintain a healthy level of independence: First, make it clear to interviewers that they should not share their interview experiences with each other before the final group huddle.

Next, ask each interviewer

to distill her interview rating to a single numerical score, and write down her main arguments for and against hiring the person, and her final conclusion, before the group huddle.

Finally, hiring managers should take note of the average score for a candidate.

At this point, it is OK to have a lively discussion during a group huddle, with the purpose of influencing and being influenced by others. If interviewers want to change their scores, let them do so.

They should also know it’s OK to not conform with the group, whether they want to stick with their original opinion or take a new stance.

When the above process is applied—regarding decisions ranging from new CEO hires to hedge fund investments—I have observed healthier discussions that are not overly influenced by the most charismatic person in the group.

Atta Tarki is the founder and CEO of ECA, an executivesearch and staffing firm.

GOOD ideas can come from all corners of a company, but would-be innovators may need help developing a strong strategic argument.

What are you trying to do? Articulate your objectives using absolutely no jargon. How is it done today, and what are the limits of current practice? What is new in your approach and, why do you think it will be successful? If you are successful, what difference will it make? What are the risks? How much will it cost? How long will it take? What are the midterm and final “exams” that will allow you to measure success?

n Vet and refine ideas collectively and continuously

IN nimble organizations, innovation ideas aren’t reviewed once or twice a year by a senior committee.

Instead, they undergo a constant process of review, refinement and— if necessary—death. The goal is for only the best ideas to survive.

n Bust through barriers that block innovation

MOST organizations have regular procedures for leaders to determine which new projects should get funded and who will be assigned to them. But at nimble organizations, leadership is flipped upside down. The job of top leaders is to serve people who are close to the market. They do whatever they can to clear the way for promising new projects and get innovation teams the resources they need.

Using these three practices, companies can harness the insights and energy of all their people through a collective “prediction market,” in which innovation ideas are examined, improved and pushed forward by the many, not the few. An innovation prediction market makes many small bets on new ideas, only a few of which will pan out after intensive collective vetting.

Kate Isaacs is a research affiliate at the MIT Leadership Center at the Massachusetts Institute of Technology Sloan School of Management. Deborah Ancona is a professor of management and the founder of the MIT Leadership Center.

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5 tips for college students to avoid burnout

By Ryan Korstange, Middle Tennessee State University

B

As a researcher who specializes in identifying strategies to help college students get through their first year of college, I’d like to offer a few tips to help students avoid burnout.

1Start with why.

Intrinsic motivation—the idea that learning is naturally satisfying—is associ-

ated with lower levels of academic burnout and with higher academic achievement. The most effective way of preventing burnout is being sure you know why you’re in college to begin with. Build your internal motivation by identifying the skills you need to develop and the experiences you want to have while you are in college.

IPOPHL hosts the PHL’s first-ever WIPO Summer School on Intellectual Property

T

HE World Intellectual Property Organization Academy and the Intellectual Property Office of the Philippines are mounting the first-ever WIPO-IPOPHL Summer School on Intellectual Property that aims to provide local and international individuals interested in IP and other IP-related matters with a brief but intensive education program.

The 10-day course, to run from September 2 to 13, will mark the first time it will be held in the Philippines. The lectures will be conducted at the IPOPHL Multipurpose Hall, Intellectual Property Center, McKinley Hills in Taguig City.

The Summer School is regularly organized by WIPO Academy, in partnership with universities or IP offices in developing and least-developed countries. A core unit at the WIPO, the Academy is a center of IP training; a catalyst in expanding the range and impact of training opportunities worldwide; and a hub of a virtual network of partners, experts and teachers in development-oriented IP training.

Worldwide participation in the Summer School has been increasing over the years, with that in 2018 alone seeing a 48-percent year-on-year growth. This heightened interest conveys WIPO Academy’s success, in providing, through the Summer School, an opportunity for individuals to acquire deeper knowledge in IP and perceive it as a key tool for economic, social, cultural and technological development.

Participants learn from well-known local and international experts of the IP world and go through simulation exercises, case studies and group discussions on selected IP and IP-related topics that are particularly relevant to the present times.

Discussions cover all types of IP assets (trademarks, patent inventions, utility models, design, trade secrets, geographical indications, among others); common challenges in IP protection; enforcement; the alternative dispute resolution track; and the interface between the exhaustion of IP protection and competition laws, public health, biotechnology, and ecommerce, to name a few.

For its part, the IPOPHL views the WIPO-IPOPHL Sum-

mer School on IP as a milestone for its IP Academy, the office’s unit advocating for broader IP education.

“IP is a key tool that leads to economic, scientific, social and cultural development as it adds value to products, solutions, services, or innovations,” IPOPHL Director General Josephine R. Santiago said.

“The increasing demand for IP creation, protection, utilization and commercialization, coupled with the growing complexities of various technological innovations around the world, makes the Summer School as one of the necessary activities that any IP office should conduct. We hope this is a first step toward more and bigger projects with the WIPO Academy,” IP Academy Officer in Charge Assistant Director Frederick P. Romero, PhD said.

The WIPO-IPOPHL Summer School has, so far, drawn in the interest of several academe members, researchers, legal practitioners, young professionals and students. This diversity signifies the increasing acknowledgement of the importance of IP in an innovation-driven arena.

The IP needs of Micro, Small and medium-sized enterprises will also have special focus under the IP Entrepreneurship and MSME session which will tackle best practices employed by successful MSMEs. Here, MSMEs will learn to leverage the IP system in striving to gain market share, and in accessing markets which are, otherwise, difficult to penetrate without deep pockets.

Meanwhile, researchers can significantly benefit from discussions on technology transfer and licensing, and the conduct of a simulation exercise on licensing negotiations. Activities like these help budding inventors learn how to succeed in seeing their inventions launched into the market.

Registration for the WIPOIPOPHL Summer School is ongoing, and the IP Academy aims to attract more participants who are seen as potential comrades in building societies that cultivate a culture of respect for IP. Registration costs P10,500 for each student and P15,600 for each professional. Interested participants may register online or by phone at 238-6300 local 1007, 5402.

WWW.PIXABAY.COM

URNOUT is a stress-related state of exhaustion and often leads to feelings of isolation, low accomplishment and even depression. Although research has long shown that burnout affects employees, we now know burnout also affects students.

your work and prog2Visualize ress.

Use the syllabus and other resources to get a full picture of the projects you have and their deadlines. Use to-do lists, calendars and apps to remind you of

the work you have to accomplish, and celebrate small wins along the way.

3

Work a little every day. High -impact learning requires the

investment of time and effort and deliberate practice and selfregulation. However, the majority of incoming college students spent less than 10 hours per week studying in high school and need to learn to put in a more sustained effort. Moreover, the study practices that college students use most commonly—highlighting or underlining notes, reading material over and over, and summarizing class content—are the least effective.

Take advantage of the learning strategies that have proven to be most ef fective. Spread your study time-out over days rather than cramming. Actively retrieve the material you are learning using f lash cards or practice tests, rather than passively read ing and reread ing information.

4Take breaks regularly.

Since burnout is related to stress, it is important to manage stress

carefully. Exercise, proper nutrition, social interaction and quality sleep are each part of a productive coping strategy. In addition, breaks help restore your focus on your overarching goals, increase creativity, and improve memory formation.

5Keep the end in mind.

Parts of college are simply stressful and difficult. But in the end, graduation from college remains economically beneficial. Additionally, the knowledge and skills you gain while in college have lasting and wide-ranging benefits in your work and personal life—like living longer, making more money and passing those benefits on to your children.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/5-tips-for-college-studentsto-avoid-burnout-121484

Learning robotics is not just fun, condo community kids find out

TEACHING robotics one child at a time to instill a future-oriented and innovative mindset among the young is the ultimate goal of James Ryan Duque in establishing the TechKnights Robotics program. CONTRIBUTED PHOTO

ENROLLEES watch in awe as they are shown a robot developed by TechKnights Robotics. CONTRIBUTED PHOTO

W

HAT may seem like play for children could inf luence and help them later when they make tough career choices.

Recognizing this, children in DMCI Homes’s Rhapsody Residences condominium community in Muntinlupa City were recently encouraged to attend a robotics workshop to expose them to fun concepts that could someday help them pursue their own professional careers.

Orga n i zed by Tec hK n ights Robotics, the three-day training program held on July 6, 13 and

20, aimed to teach enrollees aged 8 to 14 years old practical applications of theories and principles of science, technology, engineering, and mathematics.

James Ryan Duque, program creator and director of TechKnights Robotics said the course can help increase awareness and understanding among students, of the potential and power of robotics in solving day-to-day challenges.

“At a young age, students should know trial and error. And they should have a positive background on how to solve a problem. Will

they quit if things are not working? Will they stop if things are not resolved?” Duque pointed out.

“Developing new ideas like making a robot to fix the bed for them can bring about a lot of collaborative skills, a lot of leadership skills that will allow them to innovate more and create more. So, encouraging these young children to actually understand the concepts of robotics will trigger so many skills that they will share vitally in pursuing their profession,” he explained.

R h apsody R esidences u n it

owner and TechKnights Robotics founder and managing partner Kit Almeda, for his part, thanked DMCI Homes for providing a venue for a good learning environment.

“It’s a privilege to be partnering with DMCI Homes. I think having DMCI Homes as a partner in helping us move forward robotics, is a validation of where the future is headed since DMCI Homes is a company which always looks at innovation, creativity and foresight.

Those are the things that bring together DMCI Homes and TechKnight Robotics,” Almeda said.

Pia Cayetano files alternative measure to mandatory ROTC proposal

S

EN. Pia S. Cayetano is pushing for the establishment of a comprehensive and holistic policy that would strengthen the sense of patriotism and nationalism among the Filipino youth.

The senator filed Senate Bill 925 or the “Youth Patriotism and Bayanihan Act,” which is an alternative to the proposal to revive the mandatory Reserve Officers’ Training Corps (ROTC) program for senior high-school students.

Joining the Senate Committee on Basic Education’s public discussion on Thursday (August 22), Cayetano stressed that instilling love for country among young Filipinos should start as early as their formative years.

“Do the core values of nationalism and patriotism only begin at senior high? That’s the question I pose. This is not just a concept that should be focused on senior high,” she said.

“I just want to put my point out there, that there are different ways to develop nationalism and there are different components [that should be considered],” she added.

Earlier this week, the senator filed SB 925, which seeks to institutionalize a two-tiered program to strengthen the values of discipline, patriotism, and nationalism of students from Grades 1 to 12.

The first tier is the introduction of a Fundamental Program in the curricula of Grades 1 to 12 in all public and private educational institutions in the country. The components of which

shall include Physical Fitness, Arts and Cultural Heritage, Community Outreach, Basic Disaster Risk Reduction and Management, and Basic Security.

The second tier is the establishment of a Specialized Program for Senior High School students in public and private educational institutions.

This seeks to provide advanced and dedicated training for the development of the students’ skills on security, survival, and public service.

The Specialized Program shall have the following components: Internal Security and Peace and Order, Dedicated Disaster Risk Reduction and Management, Advanced Security, and Career Development.

Cayetano said her measure particularly promotes the importance of “soft security,” which pertains to citizens’ ability to respond to threats to the country’s sustainability through the efficient management of resources and delivery of services.

In her bill, the senator distinguished “soft” from “hard” security, which pertains to the country’s ability to respond to security threats through the use of military force.

“That’s why my bill includes more components [other than militarybased training] because I’d like to think that there is not just one track…

We want to be sure that the programs [we will establish] would be suited to the skills that we want our youth to develop,” she said.

Furthermore, Cayetano said if the

PHOTO FROM OFFICE OF SEN. CAYETANO

purpose of the mandatory ROTC is to train the youth in helping protect the country from external threats, there are many other ways to do so.

“If we are preparing for external invasions…should not the preparation be in terms of our students being the best in engineering, psychology, so-

ciology, history, medical care and the like?” she noted.

“My point is, we need to strategize where our human resources are needed. And it is essential for the Filipino youth to contribute to the preservation and sustainability of our country’s available resources,” she added.

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How to pitch PR stories to editors and journalists F

PR Matters

By Joy Lumawig-Buensalido

OR today’s topic, I am answering an inquiry from a budding PR practitioner.

Dear Ms. Buensalido: I’ve been working with a public relations agency for six months now and I love what I’m doing. The most challenging part of my job, so far, is how to deal with journalists and editors whenever we offer them stories and press releases—or when we’d like to invite them to do interviews or stories on our projects. I would thus appreciate your professional advice on how to go about “breaking the ice” and how to rouse their interest in the stories that we propose to them.

Thank you for your advice.

Bella Dear Bella: Building a professional relationship with media can be one of the most challenging yet the most rewarding tasks for every PR person. It may seem daunting at first, especially if you’re new on the job, but once you get to know how the editors and journalists think and work, and how you can provide the information they need, you shall have made the first step toward getting your pitches noted and earning their trust.

A caveat: This is easier said than done, so the following practical and time-tested tips should help you along as you connect the dots in this most exciting part of your career journey.

your research properly 1evenDoandcontact thoroughly before you the media. Find out what a particular media outlet specializes in and the kind of content they like. For

instance, your proposed subject must be relevant to the publication or the media platform you are targeting. You do not pitch a lifestyle story about a newly launched resort to a business reporter who’s tasked to write about the management, operations and future expansion plans of such venues. But if you need to sell the resort’s upscale features and amenities, world-class cuisine and

its other unique attractions, get lifestyle and travel writers on your speed dial.

Similarly, if you want to submit a story or a news release to a web site or invite a TV news channel to cover your event, you must do prior research on the type of features that these media entities specialize in. Have you even done your homework on the kind of news stories this TV channel covers? Have you checked this web site’s content so you’ll know the type of stories they focus on? Due diligence preps you for times when an editor or beat reporter may ask you why you’re pitching a particular story to them.

may follow up on your 2You stories, but don’t overdo it.

Being overly ardent works when you’re selling a pricey gadget or the latest Cathy Molina rom-com.

But not when you’re dealing with journalists and editors who are forever chasing deadlines. So do limit your e-mails, follow-up texts, and calls to a minimum—and only to those you have met personally.

If you have direct access to editors, you have better chances of getting the accommodation you need for your clients.

This brings me to raise an important point: PR practitioners who make an effort to get to know these journalists personally shall have navigated “tricky waters,” so to speak. Earning their trust and goodwill makes your job much easier.

Avoid pitching a story that is 3a brand. obviously slanted to promote

Journalists can tell if your pitched topic is “hard sell” or is simply crafted to promote your client. There is no real story that may be deemed “newsworthy.” Always remember, journalists or reporters require context when quoting statements from your clients. Even “exciting new products” or updates do not interest them unless you are bringing in an international celebrity or spokesman whom they can interview for their stand on matters of global interest.

INITIATIVE PHILIPPINES AWARDED BEST IN MEDIA CREATIVITY

Taking home the prestigious 4A’s accolade in year 1 of operation

I

NITIATIVE, the culturallydriven media agency within IPG Mediabrands, turned heads at the recent 4A’s Agency of the Year (AOY) Awards Night in the Philippines when it became the first agency in the awards’ 22-year history to win the prestigious accolade “Best in Media Creativity” within the agency’s first year of operation.

Initiative achieved this honor in recognition of its impressive body of work that clearly demonstrates creative media solutions as a means

to delivering quantifiable business results for clients. In their debuting year at the 4A’s awards, the agency was also named finalist for a number of additional awards including “Digital Excellence in Media,” “Management of Business” and “Overall Excellence in Media.”

“In many ways, the industry has been recast. Media and marketing overall, face opportunities and challenges that demand both bravery and accountability from us. At Initiative, we focus on building

strong market relevance for our clients’ brands and we do this via our unique cultural velocity lens,” said Tricia Camarillo-Quiambao, managing director of Initiative Philippines.

Earlier this year, Initiative Philippines made headlines with some significant new client wins including the coveted NutriAsia and Honda accounts. These join their growing list of clients which include PT Mayora, PruLife, Air Asia, Lego and Reckitt Benckiser.

At this point, I must stress that it’s your job to know the media and to discern what is newsworthy. It’s your job to be upfront with your client and tell them your objective. You have to find and create an interesting angle for your client—one that works for your targeted media.

Note, too, that there are new consumer products cropping up in every category imaginable. How do you make your client’s product relevant to the media and their audience? For example, are you pitching a new brand of milk tea in a market that already offers a dizzying number of choices? Then don’t just say, “There’s a new milk tea in the market!” Look for what makes your brand unique, then check what media entities would positively respond to this. Avoid pitching the same story to all media outlets. Thoughtfully conceived and well-written stories earn their trust and respect, something that benefits you in the long run.

Buzzfeed; don’t churn 4Beoutlikegeneric e-mails!

I personally attest to the fact that it’s still best to have personal interaction with the journalist and editor when introducing your product/service. But these are increasingly frenzied times when PR practitioners are forced to e-mail their pitches to journalists/ editors who are usually deluged by tons of pitches in their inbox! So think like an editor and present the information in the most interesting

way. Have an eye-catching, clickworthy subject line. In the body of the e-mail, don’t just copy the content of the press release; in the most succinct way, try to explain why it is relevant to them.

the media properly.

5andAddress Verify their correct names titles before sending those

e-mails. Make sure you know who

the journalist/editor is and address your communiqués to that person.

Never start with a “To Whom It May Concern,” which shows that you obviously do not know who the person in charge is and don’t really care as long as your release comes out. Do your research first (or go back to number 1).

And do make sure that the addressee still exists! To this day, the late great food critic Doreen Fernandez gets inquiries from clueless college students asking her to participate in their theses, which is not only downright insulting but also annoying to Ms. Fernandez’s colleagues from the academe.

it easy for the media to 6Make help you.

The most important part of your job is to make it easy for journalists and editors to get your stories and content published.

Providing good-quality photos, for example, helps tremendously. Get to know what kind of images they favor for their stories.

If you’re handling an apparel brand, for example, know which

media outlets prefer thematic shots of the products or which are keen on catalog-style shots. Which media outlets prefer high-res photographs or which can do with screencaps or photos embedded in social media.

For events, which media outlets prefer shots of people who attended and which media outlets opt for photos of the brand representatives?

And here’s something even more current: which media outlets have ditched the use of CDs and which ones specify photos sent through Viber because it’s faster? Again, it comes down to being familiar with media outlets and their requirements, and providing them the easiest way to appreciate your story and materials.

After all, editors and journalists remember the PRs who make their jobs easier, which translates into smoother work ties between them— now and in the immediate future.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Joy Lumawig-Buensalido is the president and CEO of Buensalido & Associates Public Relations.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

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SIMONE RE | DREAMSTIME.COM

THE FATE OF THE METALHEADS

By Tasha R. Howe | Humboldt State University

A

THE CONVERSATION

DULTS often worry about adolescents who identify with fringe-style cultures, whether it’s emo, hip hop or juggalos.

But every generation has its own set of musical cliques that draw millions of teenage fans. In the 1980s, heavy metal—a style of music characterized by blistering guitar solos and soaring vocals— was, by some measures, the most popular musical genre.

Adults were up in arms. There were congressional hearings about heavy metal’s inherent “dangers.”

Parents (and their elected representatives) feared that their kids, in identifying with the subculture, might be lured into devil worship, sex or drugs. Tipper Gore and the Parents’ Music Resource Council (PMRC) sought to ban recordings, while artists like Judas Priest were put on trial, blamed for the suicides of two teenagers.

Growing up as a heavy metal groupie in Hollywood in the 1980s, I was certainly exposed to a lot of sex, drugs and rock ’n’ roll. But I was also part of a community of like-minded peers who loved the music and lyrics. My friends and I donned micro-mini skirts, leather jackets over lace bras and stiletto heels. We gave the hypocritical “establishment” the middle finger.

Cut to the present day: I’m a psychology professor and two-time Fulbright Scholar. Did metal affect me? I believe it did. I believe it helped me cope with a very difficult and dysfunctional home life.

I found friends and boyfriends and an aggressive style of music that helped me safely vent my anger over my lot in life.

But a few years ago, while I was writing a memoir, I began to wonder: what happened to the metalheads I’d known in the 1980s? I may have emerged relatively unscathed, but had the others become drug-addicted and destitute, like so many parents predicted?

My mentor, social psychologist Howard Friedman, suggested I conduct a study to find out.

Early 1980s research on teenage metalheads suggested that they were more aggressive, more emotionally disturbed and less well-adjusted than non-metal fans.

However, other research suggested they were more intelligent or that it was really family dysfunction that led to their poor adjustment.

Unfortunately, no one followed these kids over time; no one had examined what became of them as they reached adulthood.

In our study, we used social media networks to recruit people between the ages of 35 and 60 to answer questions about their adolescent years during the 1980s.

We reached out to metal groups on Facebook and used “snowball sampling,” in which we had individuals ask their friends to participate, who then asked their friends and so on. (This is a typical method for recruiting specialized or hard-tofind populations.)

We ended up with a sample of 377 people, which included two comparison groups: middle-aged folks who did not like metal in the 1980s and current college stu-

FIRST line in a metal concert festival, at Hellfest Summer Open Air in France. SIMONE RE | DREAMSTIME.COM

dents. We needed to be sure that anything we found about the metal group was not also true of other people who grew up in the 1980s or of youth in general.

In the first question, we asked participants what their favorite music was in the 1980s. Those who picked anything but metal (like pop or new wave) were put into a comparison group, as were students. Those who chose metal (like Metallica or Guns-N-Roses) were then asked whether they were groupies, paid musicians or simply fans. Groupies self-identified as sleeping with rock stars and doing anything possible to get backstage. Musicians were not in garage bands but were paid to play.

Then we developed an 85-page questionnaire asking them about

personality traits, education, income, marital status, childhood trauma and abuse, past and current sexual behavior, how happy they were as kids and how happy they are now, in addition to a number of other variables.

We expected that the metal groups would be similar to the other middle-aged adults. But we never expected how much better they fared in important ways.

First, some of the stereotypes from the 1980s ended up being generally true of metalheads in their youth. Metal fans took a lot more drugs and engaged in a lot more sex than either comparison group.

In fact, groupies reported some serious drug problems in the 1980s. Groupies also experienced

more childhood trauma than other groups. On the whole, the metal group had more adverse childhood experiences and engaged in more risky behaviors than the other two groups. On the other hand, many of the metalheads reported that they found a sense of belonging and acceptance in their musical clique.

What was fascinating, however, was that metalheads also reported being significantly happier in their youth compared to the other two groups. They also reported having significantly fewer regrets about anything they did in their youth. The comparison groups were more impulsive, more likely to experience manic symptoms like hyperactivity and sleeplessness, and were more likely to seek

psychological counseling for emotional problems.

And despite politicians’ fears about metalheads not amounting to anything, they ended up, on the whole, not differing on education attained, income, marital status or on any personality traits measured, such as neuroticism.

In response to open-ended questions, the metalheads discussed feeling like they were part of an important social movement, rebelling against the status quo. They were living in the moment, enjoying a hedonistic lifestyle and feeling connected to like-minded peers.

They loved the lyrics, the complexity and the intensity of heavy metal music. They felt a sense of freedom and social support as part of the metal clan.

It appears that “fringe” style cultures may actually act as a protective salve for youth: metal, with its ready-made set of beliefs, styles and behaviors, acted as a path to identity formation for many of our subjects.

We hypothesize that this is true for all youth cultures: all youth need a sense of belonging to a group that is different from that of their parents, that is their own, one that speaks their own language and convinces them that they matter.

This is especially true for kids like the 1980s metalheads, many of whom had dysfunctional families at home. Social support for the developing adolescent identity is perhaps the most important function any group can provide.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/ the-fate-of-the-metalheads-44876.

The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.