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ROTARY CLUB OF MANILA JOURNALISM AWARDS

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A broader look at today’s business n Friday, August 30, 2019 Vol. 14 No. 324

CTRP to draw ₧187-B revenue in ’20–DOF ₧153.8B F By Bianca Cuaresma

@BcuaresmaBM

ULL implementation of the Comprehensive Tax Reform Program (CTRP)—including the passage of the remaining packages—will contribute P187.1 billion in tax revenues to the country come 2020, the Department of Finance (DOF) said on Thursday.

In a statement, the DOF underscored the need to complete the passage of the remaining packages of the CTRP to ensure a “reliable revenue base.” Finance Undersecretary and chief economist Gil Beltran said that for 2020, revenue collections

are projected to reach P3.5 trillion, of which P187.1 billion will come from tax reform. These include P153.8 billion from the first CTRP package or the Tax Reform for Acceleration and Inclusion (TRAIN) law; P15.7 billion from Republic Act 11346,

which raised excise taxes on tobacco products; and an estimated P20 billion to be collected from Package 2 Plus, which aims to increase excise taxes on alcohol and e-cigarette products. Package 2 Plus was approved by the House of Representatives on

Expected windfall from the first CTRP package or the TRAIN law in 2020. Also expected: P15.7 billion from higher excise taxes on tobacco; and an estimated P20 billion from Package 2 Plus, higher excise taxes on alcohol and e-cigarette products

third and final reading on August 20. The passage of this package, Beltran said, will help bring the country to “A” rating territory “within the next couple of years.” Beltran said the Philippines’s elevation from lower- to uppermiddle-income country status See “CTRP,” A2

‘BBB infra projects get back on track’

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SOLONS, HEALTH ACTIVISTS CLOSE RANKS BEHIND TAX HIKE ON ALCOHOL, E-CIGS

AW M A K E R S a nd health advocates have expressed unified support for the passage of higher alcohol and e-cigarette taxes, saying this will be beneficial for the country’s overall health score. In a press conference on Thursday, the respective chairmen of the Senate and House Ways and Means panels, Sen. Pia Cayetano and Albay Rep. Joey Salceda, were joined by health advocates and coalition leaders in the country to call for the swift passage of a higher tax on alcoholic beverages, electronic cigarettes and heated tobacco products to improve health outcomes in the country. “According to the 2012 and 2015 Family Income and Expenditure Survey [FIES], the majority of the lower quintiles, which are the poor,

By Bernadette D. Nicolas

@alyasjah

See “BBB infra,” A2

BUSINESS NEWS SOURCE OF THE YEAR

spend more on alcohol as a percentage of their total expenditure compared to the rich. By raising the price of alcohol through taxation, these products will be less accessible. Hence, poor families will be signaled to use their budget wisely, and hopefully allocate their expenditures to more important things,” Salceda stated. Earlier this month, the House of Representatives approved on third reading the bill on higher alcohol and ecigarette taxes. The bill has since been transmitted to the Senate for further deliberations.

Youth discouraged

THE Senate, meanwhile, has deliberated on the higher taxation and moved along with discussions with the DepartSee “Tax hike,” A6

Duterte, Xi ‘consensus’ on WPS oil deal seen

By Elijah Felice E. Rosales

HE government was able to catch up with its timeline for the “Build, Build, Build” (BBB) program due to a plan that expanded working hours in construction sites to 24 hours, from just 10 hours. In a forum with CNN Philippines on Wednesday, Transportation Secretary Arthur P. Tugade admitted there were challenges in catching up with the spending lack in the first quarter resulting from the delay in the passage of the budget. However, he claimed the government is back on track with its timeline of planning and implementation, attributing this to a “two-pronged catch-up plan.”

2018 EJAP JOURNALISM AWARDS

TRANSPORTATION Secretary Arthur Tugade (second from right) makes a point at CNN Philippines’s Building for the Future Business Forum Part 2 on Wednesday. From left: CNN Philippines Chief Correspondent Pia Hontiveros, British Chamber of Commerce Philippines President Chris Nelson, Anvil Business Club Chairman Emeritus George Siy, Albay Rep. Joey Salceda, Private-Public Partnership Center of the Philippines Executive Director Ferdinand Pecson, Public Works Secretary Mark Villar, Tugade and CNN International Correspondent Andrew Stevens. NONOY LACZA

@BNicolasBM

RESIDENT Duterte and Chinese President Xi Jinping were expected to arrive at a consensus on how to move forward on the 60-40 joint oil exploration deal in the West Philippine Sea, the Philippines’s top envoy to China said. The President was scheduled to meet with President Xi on Thursday night in a bid to raise directly the arbitral ruling which invalidated China’s claims in the West Philippine Sea. But prior to the meeting, Philippine Ambassador to China Chito Sta. Romana told reporters on Thursday that the two leaders may discuss the need to form a joint steering committee, as well as the creation of a joint entrepreneurial

working committees composed of companies which will engage in the said cooperation. “I think the President is very much interested to move forward on the MOU [memorandum of understanding] on oil and gas cooperation that was signed last November and I think the MOU provides a road map for moving forward,” Sta. Romana said on the sidelines of President Duterte’s official visit to China. “You know, generally when you have two heads of state meeting, they don’t deal with the nitty-gritty; that would be done at the working level but they will at least come to some agreement on the general points, a consensus that they will provide the impetus for the working groups on both sides to continue See “WPS oil,” A2

US 52.2730 n JAPAN 0.4926 n UK 63.8410 n HK 6.6642 n CHINA 7.2961 n SINGAPORE 37.6471 n AUSTRALIA 35.1954 n EU 57.9080 n SAUDI ARABIA 13.9387

Source: BSP (29 August 2019 )

News

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A2 Friday, August 30, 2019

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Avid sales down on slow demand for cars

By Elijah Felice E. Rosales

@alyasjah

EHICLE importers belonging to the Association of Vehicle Importers and Distributors Inc. (Avid) are having a difficult time recovering from their poor performance last year due largely to higher interest rates and tighter competition.

Avid on Thursday reported a 0.67-percent sales decline in the January-to-July period to 50,164 units, from 50,505 units during the same stretch last year. The slow

appetite for passenger cars continues to hurt the chances of the automotive industry to recover this year. As of July, Avid members’ passenger car sales fell by an

annualized rate of 4.76 percent at 18,592 units, from 17,706 units. Sales of light commercial vehicles (LCV), however, made up for the slack in passenger car sales. Avid members sold 31,878 units in the seven-month period, 0.65 percent higher than last year’s 31,671 units. Commercial vehicle sales also more than doubled to 580 units during the period, from 242 units recorded a year ago. Despite this, Avid President Maria Fe Perez-Agudo said the group is confident sales will pick up in the latter part of the year due to “more favorable market conditions.” “The downtrend in inflation and continuous surge of overseas Filipino worker remittances are two

CTRP. . .

WPS oil. . .

ahead of schedule next year is proof that the government can accomplish its goal of beating extreme poverty within a generation, “if we stay on course and continue to invest in the right things.” In 2018, revenues attributable to the TRAIN law amounted to P68.4 billion, exceeding the full-year target of P63.3 billion by 8.1 percent, per the DOF. Tax collection posted growth of 10.1 percent in the first half of 2019. BIR collections rose by 10.6 percent, translating to an additional P101.8 billion in revenues over the same period last year. BOC collections grew by 8.5 percent, or a P23.6-billion increase from the same period of last year. “We are confident this growth will be sustained in the coming period through continuing administrative reforms and the completion of the CTRP that will make our tax system simpler, fairer and more efficient. In both revenue agencies, we are automating processes and strengthening control measures against slippages,” Beltran said.

and work on the details. As the saying goes, the devil is in the details. But at least you know if there is a consensus at the top level it will help to push the process forward,” he added. The Philippine envoy also said the meeting of the two leaders on the joint oil and gas exploration deal comes after the Philippines submitted the terms of reference to China and the latter agreed to it through the two countries’ submission of their notes of agreement last July. The Philippines is in a rush to push for a joint oil exploration deal as Malampaya is expected to dry out by 2027, and pose a “serious energy crisis” as the gas field supplies about 40 percent of Luzon’s power needs. While the area of coverage of the 60-40 joint oil exploration deal is still being ironed out, Sta. Romana gave assurances there will be “very intense rounds of negotiations between the experts, including those from the Department of Energy and the particular companies concerned. “They have to come up with a contract. But the contract has to be in accordance with the Philippine Constitution and also with the Unclos [United Nations Convention on the Law of the Sea]. And since the Chinese are involved, also in accordance with the Chinese Constitution, I think,” he said. “So there will be protracted or at least intense negotiations on the legal points and legal experts will have to come in, and see how they can phrase it in a way that will be in keeping—that is acceptable to both sides,” he added.

Continued from A1

Code of Conduct

ASIDE from the joint oil ex-

50,164 Number of units sold by Avid members in the January-to-July period, from 50,505 units during the same stretch last year

factors that will improve consumer confidence, especially high-ticket acquisitions, such as vehicles, in the coming months,” Agudo said. “The completion of infrastructure projects, specifically road and connector links, will hopefully ease traffic and remove one of the hurdles to vehicle ownership in Metro Manila and nearby

ploration deal and the arbitral ruling, the President also earlier vowed to prod China for the early conclusion of the Code of Conduct in the South China Sea. Meanwhile, Sta. Romana also revealed that the President’s visit to China provided an “impetus” for the public apology of the owner of the Chinese ship involved in the Recto Bank incident. On June 9, a Filipino fishing boat with 22 fishermen was hit by a Chinese vessel. The Filipinos nearly drowned after being abandoned by the Chinese even though their boat sank; fortunately, they were rescued by a passing Vietnamese vessel. Sta. Romana also revealed that the public apology was also the result of intense negotiations between the two countries after the Philippines demanded it, since the incident had an adverse impact on the bilateral relations, particularly on China’s image. “And I guess to a certain extent the visit provided an impetus because we were telling them that unless this is cleared, then it will come up in the discussion. I mean it could still come up but at least now on a positive note it’s really how to avoid for the future,” he said.

‘Reed Bank not part of Spratlys’

HOWEVER, he also said the Philippines’s acceptance of the apology from the Chinese ship owner may be taken to mean that it also accepts that Recto Bank is part of Nansha Island Group, as stated in the Chinese letter of apology. “It has— as others have pointed out, of course, it has a name that we accept —you know, Nansha or that the Reed Bank is part of Nansha or the Spratlys. That is a separate issue. And that is a whole separate discussion altogether,” he said. In a statement on Wednesday, Supreme Court Senior Associate Justice also pointed out the error, saying the Philippines is not part of Spratly Islands (Nansha Island Group). “Only China claims Reed Bank is part of the Spratly Islands [Nansha to China]. The arbitral tribunal ruled that Reed Bank is a completely submerged area, forming part of Philippine EEZ [exclusive economic zone], beyond the territorial sea of any island in the Spratlys,” he said.

BBB infra. . . Continued from A1

“There were obviously some delays caused by certain factors, which, to our minds, we did not consider it as an insurmountable issue, but rather we considered it as a challenge to achieve our targets,” Tugade said during the forum. “The Build, Build, Build team formulated a catch-up plan. Because of this catch-up plan, we were able to address the seeming delays caused by factors like delays of projects, problems on right of way. These [issues] were addressed. Basically, the catch-up plan is consisted of two parts insofar as transportation is concerned,” he added. According to Tugade, the catchup plan involves two strategies: first, awarding the projects to multiple contractors and, second, the increase in working period to 24 hours, from the initial 10 hours to 12 hours. “No. 1, we went into multiple contractors award. No. 2, as we go into multiple contractors award, we do a 24/7 construction period. Remember that the projects then were predicated on 10 to 12 hours of work time in a single contract. What we did was to divide the projects into phases so that you can have multiple contracts. We agreed with our con-

tractors for a 24/7 [working period],” the transportation chief said. “By increasing the number of contractors and by increasing the number of working hours, we felt then that this will augur well for our catch-up plan,” he added. GDP in the first quarter fell to a four-year low of 5.6 percent, well below the government’s full-year target range of 6 percent to 7 percent. The government had to underspend for the first months of the year due to the delayed approval of the P3.7-trillion national budget for this year. Of the P3.7-trillion national budget, the government has allocated around P1 trillion for infrastructure alone, of which P808.7 billion are assigned to public projects. A lbay Rep. Joey S. Salceda noted in the forum that Congress extended for nine months the validity of the 2019 national budget. He also gave assurances that law makers will pass the 2020 budget on time to avoid another round of underspending to the detriment of the BBB program. “A pickup is expected in infrastructure spending given the extension of the validity of the 2019 national budget. We also committed to approve the 2020 national budget on time to prevent any delays in the delivery of infrastructure projects,” Salceda added.

provinces,” she added. The group is also relying on the impending mainstreaming of electric vehicles to bolster the industry’s performance, as some Avid members have e-vehicles (EV) on their lineup. “We are at the cusp of a new age in automotive as evidenced by the resources being poured by car makers all over the globe into their electric technologies. In the Philippines, government and infrastructure support are still being set up, but the EV landscape is bound to even get bigger,” Agudo added. Hyundai Asia Resources Inc. (Hari), Ford Group Philippines Inc. (FGPI) and Suzuki Philippines Inc. (SPI) maintained their

industry leadership among vehicle importers. In the passenger car segment, Hari is the market leader with a 59.66-percent share to surge past SPI with a 28.71-percent share and FGPI with a 4.95-percent share. FGPI leads Avid in the LCV bracket with a 38.32-percent market share, followed by Hari and SPI with market shares of 27.11 percent and 25.2 percent, respectively. Vehicle importers are targeting to grow sales by 10 percent this year to recover from what was a dismal showing last year due to the confluence of tax hikes on automobile, record high inflation, unstable fuel prices and higher borrowing rates.

Poll: A third of CEOs believe TRAIN law had bad impact By Bianca Cuaresma @BcuaresmaBM

BOUT a third of chief executives in the country said the first package of the tax reform program has negatively impacted their business, a survey recently showed. In its report on Thursday, Oxford Business Group (OBG) said they conducted a “Business Barometer” survey among Philippine CEOs and found that corporate leaders were divided on the Tax Reform for Acceleration and Inclusion’s (TRAIN) impact on local business conditions. Implemented in 2018, TRAIN has lowered and rationalized the tax bracket system which, in turn, exempted many low-wage workers from income tax. OBG said of the almost 100 executives who participated in the latest OBG Business Barometer: Philippines CEO Survey, some 35 percent said TRAIN had affected local business conditions in a negative way, while 33 percent gave a neutral response. On the other hand, 29 percent responded that TRAIN had a positive impact on the business environment and 1 percent opted for very positive. OBG further said that the survey results skewed even further to the negative side when responses to the question “How competitive is the Philippines’s tax environment on a global scale?” were factored in.

“Some 54 percent described the tax environment as globally uncompetitive or very uncompetitive, while just 17 percent gave favorable responses,” OBG said. OBG Asia Regional Editor Patrick Cooke said while big-picture policies—such as the ongoing tax reform policy of the government —should help foster inclusive and sustainable economic growth over the long term, they should be thought over thoroughly especially when met with mixed reactions from the business community and the general public. “These [survey] results may give lawmakers plenty to ponder with another major package—the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho)—currently stalled in Congress,” Cooke said. The President, in his fourth State of the Nation Address (Sona), asked lawmakers to pass the Trabaho bill, as well as the remaining packages of the government’s comprehensive tax reform program. “I urge Congress to immediately pass Package 2 of the comprehensive tax reform program, or the Trabaho bill, which will gradually lower corporate income tax, and rationalize and improve fiscal incentives,” Duterte said. What was billed in the 17th Congress as Trabaho bill has since been repackaged as “Citira” bill—for Corporate Income Tax and Incentives Rationalization Act—in the 18th Congress.

CBCP education panel backs bills banning homework

HE pending bills banning homework could help improve the family life of students, according to an official of the Catholic Bishops’ Conference of the Philippines (CBCP). CBCP-Episcopal Commission on Catechesis and Catholic Education (ECCCE) Chairman Bishop Roberto Mallari said he supports the bills since it could help students spend more time with their family at home. “It creates opportunities for children and their parents to do things together in the name of holiness, such as sharing stories, playing, celebrating occasions and attending church, among others,” Mallari said. “Schools should design academic and nonacademic program schedules in a way that will not affect family time, and that includes no assignments on weekends so students can balance responsibilities and be more accountable

as learners,” he added. The Bishop of San Jose, Nueva Ecija also said schools should provide holistic learning to their students, focusing not only on academics but also on values formation. There are two bills at the House of Representatives—House Bill (HB) 3611 of Sorsogon representative Deputy Speaker Evelina Escudero and HB 3883 Quezon City Representative Alfred Vargas—which aim to ban teachers from assigning homework to their students. The Department of Education (DepEd) backed the proposal seeing it as the institutionalization of its existing policy to discourage public school teachers from giving homework. Some teachers groups opposed the said bills, since they claimed it may weaken the discipline of students when it comes to their academic responsibilities. Samuel P. Medenilla

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House panel OKs ₧55.66-B budget for SC, lower courts By Cai U. Ordinario @caiordinario

ACH judge at the lower court needs to process over 300 cases to dispose of pending cases at first and second level courts nationwide, according to the Supreme Court. In a presentation to the House of Representatives, Supreme Court Administrator Midas Marquez said there were around 1,888 lower court judges as of August 2019, 742 judges short of the authorized 2,630 judges. But as of the end of 2018, data showed there were still 546,182 cases pending at second level courts, or the Regional Trial Courts and Shari’a District Courts, and 160,153 cases at first level courts. The first level courts are the Metropolitan Trial Court, Municipal Trial Courts in Cities, Municipal Trial Courts, Municipal Circuit Trial Courts and Shari’a Circuit Courts. The creation of new positions in the Supreme Court and lower courts is one of the reasons why the Judiciary branch is asking for a higher budget. The Judiciary initially proposed a budget of P55.66 billion but the Department of Budget and Management (DBM) only ap-

proved a budget of P38.71 billion. A large chunk of the P16.95 billion variance in the proposed a nd DBM-approved budget would have gone to the Supreme Court and lower gourts. Data shared by Marquez stated that P12.59 billion of the variance would have gone to the Supreme Court and lower courts. Of this amount, around P9.47 billion of the variance was allocated for personnel services. T his wou ld increase the budget of the Supreme Cour t and lower cour ts for personnel ser v ices to P36.46 bil lion in 2020 from the DBM-approved P26.99 bil lion. The total budget of the Supreme Court and lower courts will reach P46.98 billion, a 36.61 percent increase from the DBM approved P34.39 billion. With this and as a gesture of courtesy to an equal branch of government, the House Committee on Appropriations has approved the Judiciary’s proposed budget of P55.66 billion on Wednesday. Apar t from the Supreme Cou r t a nd lower cou r ts, t he Philippine judiciary is also composed of the Court of Appeals, Sandiganbayan, Court of Ta x Appeals and the Presidential Electoral Tribunal.

US Embassy closed on Monday, Sept. 2 THE Embassy of the United States in the Philippines and affiliated offices will be closed to the public on Monday, September 2, in observance

of Labor Day, an American holiday. The Embassy and affiliated offices will resume their regular services on Tuesday, September 3.

‘PHL bore ₧82-B loss from misdeclared China goods’

By Bernadette D. Nicolas

@awimailbox Mindanao Bureau Chief

AVAO CITY—Almost 2,000 residents in the city’s western suburbs were either trapped, stranded while some have to be evacuated and schoolchildren have to be rescued as heavy rains on late Wednesday brought rainwaters cascading to the lowlands and flooded the low-lying areas. The Davao City Disaster Risk Reduction and Management Office (DCDRRMO) reported 1,926 residents were affected from the 11 flooded barangays, running from the upland Calinan district down to Tugbok district, and to the coastal areas of Talomo District. A heavy overcast sky was observed on Wednesday afternoon across the city skyline and rains began to pour by past 4 p.m., sending flood waters inundating riverside villages in the northern uplands. Rescues were undertaken by 6:03 p.m. for stranded students of Wangan Technical School and Ba-

lengaeng Los Amigos Elementary School in Tugbok. Units of the Urban Search and Rescue Unit of the Emergency Response Center 911 reported later that the situation at the Balengaeng Los Amigos Elementary School has improved allowing parents to fetch many of the 300 students. Rescuers though, were also trying to reach the interior Subasta Elementary School. Retired police officer, Rodrigo Bustillo, DCDRRMO chief, said disaster and rescue personnel already sounded the alarm for evacuation to residents in the Matina Aplaya, Matina Pangi, Bangkal and Talomo villages after the report of cascading waters were already monitored in the upland Calinan and Tugbok area. Sirens were heard throughout the night and the Davao Light and Power Co. has cut off electricity to prevent electrocution. Rainwaters reached these areas almost three hours after as commuters were also stranded by a traffic jam that stretches for more than 5 kilometers from Ulas, where river

During the Development Budget Coordination Committee (DBCC) briefing at the Senate on the proposed 2020 national budget, Lacson wondered aloud why the Philippines reported a lower figure for its imports from China at $18.48 billion as compared to China’s report of their exported products to the Philippines at $32.1 billion. The senator said this yielded a discrepancy of $13.59 billion or P684.84 billion. If this amount were subjected to a 12-percent value-added tax, he said the Philippines could have collected at least P82.18 billion. “This happens every year and we are only talking about China and we are not even talking of other exporting countries to the Philippines.... And that is only Customs and we are not talking about BIR [Bureau of Internal Revenue], so how much are we losing year in and year out in revenue leakages?” Lacson said as he posed the question to the DBCC. “Don’t you think it is shameful that we had a record of $18 billion but China had $32 billion; so where did the discrepancy of $13 billion go?” he asked. Officials from the Department

waters destroyed small houses built dangerously along the river bank, and up to the Matina highway, where the Pangi River also overflowed and flooded the villages along the river and up to the river delta. Rescuers who just helped schoolchildren and other stranded residents in Tugbok were rushed to the Talomo, Bangkal and Matina areas as floodwaters built up near the main MacArthur Highway. Although, the DCDRRMO reported preemptive evacuation along the Ulas River, the destruction of houses was conspicuous as residents sought temporary refuge in the bridge. Residents in Taal 1 and Taal 2, Sunny Village, Teachers Village and MorioMorio Village were evacuated to Ulas Barangay Hall and Taal Gym. Rescuers included civilians formed by the barangays and elements of the anti-terrorist unit Task Force Davao and Army units in the vicinity. They used Army KM250 and KM450 trucks, Elf trucks, ropes, rubber boats as they combed flooded areas to pluck out stranded residents.

Bill raises liability of statutory rape from 12 to 16 years old By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on the Welfare of Children is pushing for the passage of a measure imposing life imprisonment for statutory rape against minors who are under 16 years old, regardless of sexual orientation of the offenders or the victims. In House Bill 4160, coauthored by House Majority Leader Martin Romualdez, Tingog Party-list Rep. Yedda Marie Romualdez said their proposal raises the age of statutory rape from the current 12 years old to 16 years old. It also increased

the penalty for offenders, whether they be male or female. “If this measure is passed into law, any adult who has sexual intercourse with a minor below 16 years old is guilty of rape. Even if the minor has given his or her consent to the sexual act, it is still rape,” the lawmaker said in news statement. “The sexual orientation of the offender is of no importance. Men and women, even members of the LGBT community, may be charged with statutory rape. No one is above the law,” she added. In common law jurisdictions, Romualdez said, statutory rape is nonforcible sexual activity in which

@BNicolasBM

HE Philippines suffered at least an P82-billion ($13.6 billion) revenue loss in 2017 on products imported from China alone, Sen. Panfilo M. Lacson said on Thursday.

Copious rains flood Davao City suburbs By Manuel T. Cayon

Editor: Vittorio V. Vitug • Friday, August 30, 2019 A3

one of the individuals is below the age of consent, or the age required to legally consent to the behavior. Currently, she said, laws provide that sexual intercourse with children below 12 years old is illegal and tantamount to rape. In addition, sexual activity with a person below 18 years of age may constitute child abuse and exploitation. But Romualdez noted that the current age for determining the crime of statutory rape is not compliant with the international average as evidenced by a 2015 report released by the United Nations Children’s Fund East Asia and Pacific Region.

of Finance and Bureau of Customs (BOC) admitted that the government is experiencing revenue leakages but they were quick to point out that they have been taking steps to address it. Deputy Customs Commissioner Edward James Dy Buco explained that the revenue leakages come from misdeclaration of weight of goods, among others. “On the issue of discrepancy, as you have presented in the record of China’s exports and Philippines import, that happens because of misdeclaration on the weight. It is the weight that they misdeclare. For example, one ton of goods is being misdeclared to be less than a ton, so what we are doing now is we are strictly instructing our flatliners to follow what is really on the stowage plan of the vessels,” Dy Buco said.

In a bid to solve the problem, Lacson suggested to “fully automate” BOC. However, Dy Buco said they have always wanted to automate, so they have already taken this into consideration in their budget proposal. “We request the honorable Senate to approve our request so we can fully automate the Bureau of Customs already. So you are very right, your honor, [it’s] only through automation that these issues will be addressed,” he said.

Leakage from ecozones

ASIDE from this, Finance Undersecretary Karl Kendrick Chua said they are estimating possible leakages of P63 billion in 2017 as a result of having more than 500 economic zones in the country. “There are tax administration measures that we have put in the TRAIN [Tax Reform for Acceleration and Inclusion] law to combat some of this underdeclaration and

the biggest one is fuel marking, because we are losing almost P40 billion a year as we allow the importation and trade of oil products, and in an archipelago that is really difficult; and that started already the fuelmarking program,” Chua said. “But my other concern, as you know I have presented in the tax reform hearings, more than 500 ecozones in the Philippines are all separate customs territories with possibly a lot of leakage. The leakage that we are estimating from all of these possible leakages is up to P63 billion in 2017 so there is a combination of factors—undervaluation, possibly tax evasion,” Chua added. He cited as well the lack of oversight from collection agencies. “So we would like to address this more holistically, so one of the key reforms is already in place, the fuel marking, and we are also revising the excise stamp tax on tobacco,” he said.

Don’t you think it is shameful that we had a record of $18 billion but China had $32 billion; so where did the discrepancy...go?”— Lacson

A4 Friday, August 30, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Tap ‘economic boosters’ in 2020 budget, finance managers told

By Butch Fernandez

@butchfBM

HE Duterte administration’s finance managers were asked to tap housing, agriculture and fisheries sector as “new economic boosters” in the P4.1-trillion 2020 budget bill in order to effectively reverse reports of a “faltering” growth strategy. The suggestion came up after senators were briefed on Thursday by Development Budget Coordination Committee (DBCC) officials who made a presentation during Senate committee deliberations on the proposed 2020 national budget. For instance, Sen. Risa Hontiveros pointed out that the administration’s economic managers “expect manufacturing, BPO sector, foreign investments and public construction to power the growth momentum.” Hontiveros, however, admitted the “impression that I got from their

presentations is that momentum is being lost everyday, and there appears to be no quick and easy solutions at hand for these sectors.” She stressed that boosters are required to propel economic growth. “Kailangan natin ng mga bagong ‘economic boosters’ para palakasin ang ating ekonomiya. Ang ilan dito ay ang agrikultura, housing, fisheries, food manufacturing at pati tourism. Bukod sa pagpapalakas ng ekonomiya, tutugunan din ng mga ito ang mga isyu gaya ng food security, housing backlog, climate risks at

employment. [We need these economic boosters in agriculture, housing, fisheries, food manufacturing, and tourism. Aside from giving the economy a boost, these may also settle some issues related to food security, housing backlog, climate risks and employment],” she added. The senator cited a May 2019 report from the National Economic and Development Authority (Neda) indicating that the food manufacturing subsector’s Volume of Production Index (VoPI) declined by 14.0 percent while its Value of Production Index (VaPI) decreased by 17.7 percent. “It also said the country’s business-process outsourcing [BPO] industry is being adversely affected by the rise of artificial intelligence,” Hontiveros added. She stressed that the new economic boosters she enumerated are all intensive in the use of underutilized resources that the poor have in abundance —land, labor and the natural endowmentsofthecountryside,adding that this will “make growth more equitable, inclusive, sustained and robust” in the face of trade war-related risks and technological risks faced by workers in the BPO sector and absorptivecapacityrisks in the public construction sector. According to lawmaker, “the housing sector is particularly worth exploring given its high ‘multiplier effect,’ as larger investments in housing translate into greater economic activity in other industries such as construction, labor products and even retail.” “The fact that our current budget for housing prog ra ms

plummeted after 2016 and is at an all-time-low defies logic and must be rectified next year,” she added. Hont iveros prodded t he Duterte administration to also boost funding for the agricultural sector and help expand its contribution to the national economy by addressing land titling problems, supporting crop diversification by farmers and building more farmto-market roads and systems. The food manufacturing sector, she added, also has a lot of room for growth as seen in the experience of Thailand, “but it relies on a robust agriculture and fisheries sector.” Moreover, Hontiveros proposed that major investments and funding should be devoted to the fisheries sector, citing Indonesia’s gains in managing marine resources that allowed it to not only reduce illegal fishing, but also grow its fishing industry at a rate twice that of its national economic growth. At the same time, she conveyed her willingness to “work closely” with the Department of Budget and Management, Neda and the rest of the country’s economic managers to ensure that the 2020 budget will be responsive to the potential of these sectors as new economic boosters. The Senate Ways and Means Committee, meanwhile, extended its review of Package 2 of the Duterte administration’s Tax Reform Package raising excise tax rates on alcohol products and e-cigarettes. “We will form a technical working group,” Sen. Pia Cayetano, committee chairman, said at Thursday’s hearing on the Palace-endorsed tax measure. Apart from higher taxes for alcohol products and e-cigarettes, also in line for further scrutiny in the Ways and Means Committee agenda are Senate Bill 383 updating the National Internal Revenue Code of 1997.

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Study shows cashless payment growth in PHL By Roderick L. Abad

Contributor

@rodrik_28

ASHLESS transaction is becoming popular in the Philippines as Visa revealed on Thursday the results of its latest study that shows two in three Filipinos expect to increase their use of card payments over the next 12 months. The same ratio could be seen on the positive outlook of those who have tried and experienced the comfort of going cashless, data from Visa’s Consumer Payment Attitudes study for 2018 showed. Of the 500 local respondents, nearly 60 percent have gone cashless for at least a few days and 13 percent for a week. Three-fourth, or 75 percent, of them, on the other hand, plan on using more card payments rather than cash. These figures could be attributed to increased convenience (62 percent), hassle-free (57 percent) and not carrying as much cash (54 percent), according to the research. “It is heartening to know that more Filipinos are seeing the benefits of using digital payments based on the findings from the study,” said Dan Wolbert, Visa’s country manager for the Philippines and Guam. During the company’s news briefing in Makati City, he noted the “double-digit” growth compared to 2017, or more than 20 percent in terms of spend (value) on electronic payments made by cardholders in the country. Transactions using card, likewise, rose by 21 percent year-on-year. This is mainly due to the rise of e-commerce for digital purchases, such as subscription programs, ride-hailing services and travel platforms. More and more Filipinos are presently aware of contactless payments, thus, increasing their usage of credit and/or debit cards. Based on the study, 82 percent of respondents are aware of contactless card payments, an increase of 11 percent compared

to two years ago. Also, 84 percent have indicated their interest to use this in their next transactions. “We have seen strong growth in contactless payments in the Philippines, especially after partnerships with key merchants, such as SM and Robinsons who have implemented contactless payments acceptance across their stores in the Philippines,” he said. “We will continue to engage more merchants and banks to promote the benefits of contactless payments.” It is the transportation industry in the country that enjoys patronage among Filipino e-payers. In fact, 9 out of 10 use online payments for jeepneys, buses, trains, taxis and private car hires. More than half of them agree that it is more convenient to settle the fares via credit or debit cards. The openness of the local market to future payment technology is also highlighted in the Visa study. Such innovation leverages on card-on-file payments, or digital payments. Six in 10 respondents expressed interest in using artificial-intelligence chatbots to order and make payments for their purchases. Ninety percent of the survey participants are also interested to use self-service checkout kiosks instead of going to cashier counters, and 72 percent of them prefer to use their payment cards, contactless payments or biometric payments. “There is still a lot of opportunity for cash displacement in the Philippines and we continue to work on a few priorities in the Philippines, such as grow digital payments usage in the country and expand merchant acceptance footprint for digital payments,” said Wolbert. The fifth edition of the Consumer Payment Attitudes Study was conducted across eight markets in Southeast Asia (Cambodia, Indonesia, Myanmar, Malaysia, the Philippines, Singapore, Thailand and Vietnam, with 3,000 individual-participants.

No funding support for Tulong Trabaho law, says Tesda chief By Jovee Marie N. Dela Cruz @joveemarie

HE Technical Education and Skills Development Authority (Tesda) on Thursday admitted that the agency is bereft of funds for next year’s implementation of Republic Act 11230, or the Tulong Trabaho Act, which was signed into law last February by President Duterte. During the 2020 national budget briefing of Tesda, Director General Isidro Lapeña said the Department of Budget and Management has rejected the P1.5 billion proposed allocation for the Tulong Trabaho Act. “Tesda is the one that gives jobs and livelihood. You cannot leave a job for a livelihood without undergoing training,” Lapeña said. For her part, Bagong HenVehicular traffic along the south bound lane of Edsa is exceptionally heavy on Thursday, amid erasyon Rep. Bernadette Heranother proposal to implement a one-way traffic scheme along the major congestion-prone thoroughfare. NONOY LACZA rera-Dy, one of the authors of the law, warned that a zero budget allocation for the Tulong Trabaho law ment said it aims to find more skilled unemployed and the marginalized,” she said. is a violation of the law. workers to sustain local employment as Under the 2020 national budget, the Tes “That’s clearly violation of the law bethe government seeks to maximize milda has allocated P49.7 million for Technical cause it’s very clear that there has to be lions of employment opportunities from Education and Skills Development Policy Proappropriation signed by the President. So I the BBB program. gram, P84.2 million for Technical Education want to put that on record that the budget The law, or the Act Instituting a Philipand Skills Development Regulatory Program for the Tulong Trabaho Act must be put in pine Labor Force Competencies Competiand P11.3 billion for Technical Education and Tesda so they can implement the law that tiveness Program and Free Access to TechSkills Development Program. we just passed,” she said. nical-Vocational Education and Training, For his part, Majority Leader Martin Ro Earlier, Herrera-Dy said the shortage of establishes the Tulong Trabaho fund which mualdez said the lower chamber will look for skilled and licensed technical workers needed provides free training and additional finanfunding support for Tesda as he underscored for the Duterte administration’s “Build, Build, cial aid, such as transportation allowances the importance of providing additional budget Build” (BBB) program could be addressed if of qualified beneficiaries enrolling in select next year for the agency. the recently signed Tulong Trabaho law will training programs. “Tesda should be given more funds to enbe implemented properly. Moreover, Lapeña said Tesda has proposed sure better and competitive employment op She said Tulong Trabaho law directly adP19.9 billion but the DBM only approved P11.8 portunities for Filipinos. It’s their mandate to dresses jobs mismatch and local shortage of billion. Tesda’s 2020 budget is lower than the reach out the unemployed and marginalized master plumbers, master electricians and agency’s P12.5 billion this year. people,” Romualdez said. plant mechanics. “If we have more budget, we can serve more In a meeting, Lapeña told Romualdez that The Department of Labor and Employ[people] who need assistance including the the agency needs additional P2.8 billion.

RUSH HOUR GRIDLOCK

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MANILAMED AT 52: CREATING STORIES TOGETHER

O celebrate its 52nd anniversary, ManilaMed has hosted a week-long activities aimed at reaching out and practice social responsiveness towards a larger community. Aptly themed, “Translating patient experience to exceptional STORIES,” the activities were in line with ManilaMed’s Core Values, simply acronymed “STORIES” which the medical institution defined as the following:

S T O R I E S

ENSITIVITY - Responsiveness to the needs and wishes of patients and hospital staff, EAMWORK - Unified effort to become the best in everything we do, PENNESS - Receptive to change and improvement, ESPECT - Recognize and uphold the rights of patients and co-workers, NTEGRITY - Honesty and professionalism in the performance of duty, XCELLENCE - Consistently outstanding delivery of comprehensive care, OCIAL RESPONSIVENESS - Commitment to service the wider community.

Medical Mission

MANILAMED held another medical mission on August 10, 2019 as part of its anniversary celebration. It was a chance for the hospital’s medical and non-medical personnel to reach out with the community through free medical consultations and examinations.

INAUGURATION of the Plaza Rueda: From left, Dr. Anthony Martin S. Dolor, VP for Operations; Mr. Jose Santiago A. de la Cruz, Jr., President; Manila City Mayor Francisco "Isko" Moreno Domagoso; Dr. Susana P. Padilla-Campos, Medical Director

The Plaza Rueda Rehabilitation Project

MANILAMED dedicates itself to social responsiveness, one of the hospital’s core values, with the commitment to service and be of assistance to the wider community. The Plaza Rueda rehabilitation project on August 13, 2019 aims to establish a clean and lively ambiance in the area, through events and projects like medical missions and wellness talks to address the emerging health concerns of the general public. ManilaMed’s corporate accounts and HMOs also participated in the Adopt-a-Tree

Amazing Race: The Mystery ManilaMed

MANILAMED values the unified effort of everyone to become excellent in everything we do. As part of the week-long celebration of ManilaMed's 52nd anniversary, on August 14, 2019, a challenging and fun competition was designed to challenge employees to work as a team to overcome obstacles, both physical and intellectual, in the short possible time. The objective is to enhance a sense of teamwork and openness, while promoting a higher degree of trust and collaboration between the participants, in line with ManilaMed's core values.

PLAZA Rueda clean-up and rehabilitation

Inauguration of the Plaza Rueda

HONORABLE Francisco “Isko” Moreno Domagoso, Manila City Mayor, graced the inauguration of the enhanced and rehabilitated Plaza Rueda on August 15, 2019. The plaza now has its own lights, newly painted metal fences separating it from the sidewalk, improved tree wells for visitors to sit, and other developments making it a suitable place for walks, strolls, or respite amidst the stressful and bustling metro. The Plaza Rueda is set to be the hub for activities promoting the sound well-being of the community and its people through health events and activations of ManilaMed.

AWARDING of ISO 9001:2015 Certification

MEDICAL Mission

The Anniversary Program

BUSINESS Partners’ Appreciation Night

WITH Hon. Vice Mayor Ma. Sheilah “Honey” Lacuna-Pangan

program to sponsor repairs in the tree well installations, pressure washing of pavements, painting of lamp posts, replacement of busted lights and all other activities to help improve the Plaza Rueda.

Mass Blood Donation

ANOTHER mass blood donation and free blood pressure check-up was conducted on August 14, 2019 as part of ManilaMed’s mission to deliver compassionate patient care.

THE anniversary program on August 15, 2019 started with the introduction of the new ManilaMed Ambassadors with the aim to continue empower the employees to share their passion for the company, while increasing brand awareness for employee recruitment and retention. A delectable lunch followed after, then the awarding of loyalty certificates for employees with 15 to almost a 50 years of service, recognition to the participants of

the medical mission, amazing race, and the adopt-a-tree program, and the acknowledgment of doctors for their significant contributions to the hospital. As part of the anniversary celebration, ManilaMed launched its new campaign video entitled “ManilaMed para sa Manileño” that captures the day to day characters its patients, doctors, nurses, and families, to how their stories inspired, enriched, and motivated ManilaMed to deliver only the best possible care. It is the way of ManilaMed to tell everyone that there is a place they can visit in the middle of hustle and bustle of the metro to feel better—and truly, there is no place like ManilaMed. Honorable Manila City Vice Mayor Ma. Sheilah “Honey” Lacuna-Pangan also graced the anniversary celebration by giving a remarkable speech that encouraged the whole of ManilaMed employees and doctors to keep providing exceptional patient care experience and continue to be of assistance to the wider community in the development of the City of Manila. And lastly, the awarding of the ISO 9001:2015 certification also took place as a result of everyone’s cooperation by keeping in mind and in practice the ManilaMed's core values, vision and mission.

Business Partners’ Appreciation Night

ON August 15, 2019, ManilaMed organized an appreciation night to acknowledge and recognize the partnership of the hospital with the corporate accounts and HMOs. The event was held to express gratitude and show that ManilaMed values the contributions of its partners in providing excellent healthcare for the community and in making its patients feel better.

Doctor’s Night

TO finally conclude the weeklong anniversary celebration of ManilaMed, the doctors also took part in the festivity on August 16, 2019 by welcoming the coming year with positivity in mind and with the hope to make our patients feel even better. For 52 years, ManilaMed has always been proud and happy to deliver compassionate patient care with the best outcome as we have the country’s top healing professionals and state-of-theart medical equipment and centers. ManilaMed strives to provide only the best not only to our patients, but also give importance to our medical staff and employees. ManilaMed, with a positive outlook, ensures that we will remain at the very forefront of healthcare in the Philippines for decades to come, and continuously create exceptional stories to the lives of our people and our patients.

News

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A6 Friday, August 30, 2019

Group urges govt to notify WTO of rice tariff process

By Jasper Emmanuel Y. Arcalas

@jearcalas

FARMERS’ group scored the government for the delay in notifying the World Trade Organization (WTO) of the country’s final tariff-rate equivalent for rice imports after it removed the quantitative restriction (QR) on the staple. The Federation of Free Farmers (FFF) also pointed out that the government has not notified the WTO that it is designating rice as a product that is eligible for special safeguard duty (SSG). The group said this deprived the government of the power to impose SSG duties on imports at a time when millions of tons of the staple have entered the domestic market and pulled down the farmgate price of local rice. In a study by FFF obtained by the BusinessMirror, the group said the Philippines should have been able to impose the SSG on rice from abroad due to the surge in import volume. However, the government, particularly the Department of Agriculture (DA), could not do this

because the Philippines had not notified the WTO of its tariffication process. “This notification should have also included our designation of rice as an SSG-eligible product, since the SSG is normally available only to products whose quantitative import restrictions have been removed,” the study read. “The delay has reportedly been due to the failure of the Tariff Commission [TC] and the Neda [National Economic and Development Authority] to come up with the official out-quota rate or tariff equivalent,” it added. FFF said the TC and Neda are now way beyond the 45-day deadline mandated by Republic Act 11203, or the rice trade liberalization (RTL) law, to compute for the official tar-

iff equivalent for rice imports. Under the RTL law, the tariff equivalent should be calculated by the TC and approved by the Neda board 45 days upon the effectivity of the law or by April 19.

Prescriptions

FFF said the Neda and TC should fast-track the release of the official tariff equivalent for the outquota bound rate for rice imports to complete the country’s schedule of tariffs that would be notified to the WTO. “The government must then immediately notify the WTO of our tariffication decision and tariff rates, MAV [minimum access volume] commitment, and the designation of rice as an SSG-eligible product,” it added. FFF also urged the DA to monitor import volumes and immediately request the Bureau of Customs to impose applicable SSG once the volume trigger has been breached, in accordance with relevant laws. Given the recent surge in import volume, the group said the government may now impose an SSG “to arrest the further inflow of imports and market displacement of local rice.” Citing WTO rules, the Philippines could impose additional duties of up to one-third of the current tariff rate on the concerned

products once trigger levels are breached. SSG could be imposed if the volume of imports exceeds a volume trigger or when import prices are lower than price trigger levels. FFF also said the Philippines could only invoke the SSG if the current rice import volume exceeds the country’s volume trigger level. Based on FFF’s calculation, using the formula prescribed under the Safeguard Measures Act, the country’s estimated volume trigger for 2019 is around 1.8 million metric tons (MMT). “If we consider imports from the start of the year up to July 2019 of 2.363 MMT, we have clearly breached this trigger level,” the group said. “However, if our reference period starts only in March, or the month when the [RTL law] was enacted, imports total only 1.37 MMT, or about 427,000 metric tons below the volume trigger,” it added. Should the Philippines impose SSG, the cost of rice imports would increase by approximately P2 per kg, FFF said. “This SSG can be imposed on imports only up to the end of each year, except for imports already en route to the country when the SSG remedy was invoked, and for imports falling within the MAV,” FFF added.

Lorenzana: ₧258-B DND budget for 2020 meant to meet internal, external threats By Rene Acosta

@reneacostaBM

IVEN the multifaceted security challenges it faces, both internally and territorially, the military badly needs to sustain its operational readiness, Defense Secretary Delfin Lorenzana said, as he sought a slightly bigger budget for the Department of National Defense (DND) for next year. Defending the proposed P258.35-billion proposal before Congress earlier this week, the defense chief said the Armed Forces of the Philippines is dealing with threats from internal threat groups and the external challenge posed by the issues on the West Philippine Sea. The proposed budget of the DND for next year is P2.43 billion or 1.3 percent higher than its current budget. Under the slightly higher allocation, the Army was eyeing to improve the operational readiness of its 219 tactical battalions that are spread around the country and its

84 ready reserved battalions, both at 81 and 65 percent, respectively. For the Air Force, it was targeting to fully make available its tactical air operations services to the various commands of the military by ensuring the air-readiness of its 154 various types of aircraft. This would also make sure that it could respond to at least “90 percent” of its “flight directed missions with one hour and achieve 100 percent of its target flying hours.” On the other hand, the budget would allow the Navy to deploy and sustain the services of its 134 “units” and employ “137 force level support services units.” Lorenzana said they were also looking to support more than 100 percent the military’s requirement for small arms ammunition by ensuring the production of bullets by the Government Arsenal. This should ensure that more than 40 million ammunition would be produced with 98-percent acceptance rate according to standards. The Office of Civil Defense (OCD), an agency attached to the DND, is looking forward to further

Tax hike. . .

‘Inflation likely below 2% in Aug on lower food and utility prices’ By Bianca Cuaresma

@BcuaresmaBM

HE growth of consumer prices in August might have dipped to below 2 percent, a local economist said, likely on lower food and utility prices during the month. In a research note released on Thursday, Security Bank economist Robert Dan Roces said inflation might have hit 1.8 percent in August this year, coming down from the 2.4 percent rate in the previous month. Roces’s forecast means he expects inflation to decelerate further for the second consecutive time this year after the one-off blip in June. This also means he expects inflation to hit its lowest in about three years. “Inflation continued to ease in August due largely to slower price increases of key indices. In the heavily-weighted food index, data from the Philippine Statistics Authority (PSA) showed a downtrend in palay prices across the country this month, with the average farm-gate price of locally produced palay dropping to as low as P17.62 per kg as a result of the rice tariffication law that has opened the importation of cheap rice, and thereby flooding the local market with extra supply,” Roces said. He added that in the utilities index, electricity prices also went down, marking the fourth consecutive power rate cut for the year due

DEFENSE Secretary Delfin Lorenzana (right) engages Sen. Panfilo Lacson at a recent Senate briefing on the DND’s proposed budget for 2020. ROY DOMINGO

building the resiliencies of communities to disasters by initiating and beefing up its programs in the areas of civil defense, disaster risk reduction and management, and disaster management operations. “OCD’s civil defense enhancement subprogram should capacitate 1,663 volunteers and local DRRM officers and maintain 18 operations centers,” Lorenzana said. “For the disaster management

from trying these products. “Lately, alcohol and tobacco companies have focused on marketing these products to be more appealing to a younger demographic, such as the alcopops in question during the previous committee hearing, and the vapor products which are being marketed as harmreducing compared to traditional cigarettes. Rest assured that we will do our best to pass regulatory measures such as the tax increase that will be effective in discouraging adolescents and children from trying these products,” Cayetano stressed. Sin Tax Coalition co-convener Dr. Anthony Leachon, who was part of the group who organized the call for support on the bill, said raising alcohol and tobacco taxes will be a sustainable source of funding for the Universal Health Care law. “Raising sin taxes is a proven revenue-generating measure, and there is a need to address the current funding shortfall which amounts to P63

operations subprogram, OCD aims to ensure that 100 percent of requests for nonfood items of disaster-stricken LGUs are acted upon, as well as the conduct and support to slow-onset and sudden-onset hazards,” he added. Lorenzana said the Veterans Memorial Medical Center is looking at delivering quality healthcare services to veterans and their dependents.

billion for the Universal Health Care law,” Leachon said. According to Dr. Maricar Limpin of Action on Smoking and Health Philippines, alcohol is one of the leading causes of noncommunicable diseases (NCDS) and cancers. Limpin emphasized that increasing alcohol taxes is proven to improve health outcomes by decreasing the risk of these diseases. “Alcohol use is linked to various cancers such as cancers of the breast, liver, and the mouth, as well as NCDs such as stroke and hypertension. Meanwhile, there has been an increase in the number of reported deaths due to the use of e-cigarettes, whether through sickness or accidents. If we increase taxes to a point where people are discouraged from buying these products, then we can win many of our battles towards good health, especially those that concern alcohol and tobacco use,” said Limpin. In his State of the Nation Address this year, President Rodrigo Duterte said the proposal to increase alcohol taxes is one of the priority measures of this Congress. Bianca Cuaresma

to lower rates in the Wholesale Electricity Spot Market (WESM). Should Roces’s forecast come true, inflation will average at 3.1 percent in the first eight months of the year, pulling it down from the 3.4 percent in the first seven months. For the rest of the year, Roces said the country will continue to encounter blips of inflation below the 2-percent territory as base effects come into play. “Because of base effects and anticipated consumption factors in the coming months, we might see inflation levels at sub-2 percent until November 2019. Our latest inflation estimates remain consistent with the prevailing assessment of a manageable inflation outlook over the policy horizon for the rest of year,” Roces said. In their last monetary policy meeting, the BSP said inflation is now projected to hit 2.6 percent in 2019 from the 2.7-percent forecast announced in June. For 2020, the projection was also scaled down to 2.9 percent from the 3-percent forecast in June. For 2021, inflation is also expected to average at 2.9 percent. All are within the government’s 2 to 4 percent target range. The tamer inflation gave the monetary board space to ease monetary policy. In their meeting in August, the BSP cut its rates by 25 basis points. BSP Governor Benjamin Diokno also said there will be another 25 basis point cut before the year ends.

Cut in NFA support price for palay may trim tiller’s income–groups

Continued from A1

ment of Health and the Department of Finance among others. Cayetano, who leads the discussions on the higher taxation package, also said higher taxes will help discourage adolescents and children

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ARMERS groups said the possible reduction of the National Food Authority’s (NFA) support price for palay could trim down rice planters’ profit margin as their production costs have already increased due to higher fuel prices. Rice Watch and Action Network (R1) Executive Director Hazel Tanchuling said the reversion of NFA’s support price to P17.70 per kilogram from P20.70 per kilogram is “bad news” for rice farmers. Tanchuling said rice farmers’ production costs have increased from the current P12 per kilogram due to higher fuel prices brought about by increased excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) law. Hence, Tanchuling added, rice farmers would have smaller profit margin if NFA would just buy at P17.70 per kilogram given the increased in production costs. “The P12-production cost was prior to TRAIN law. We estimated that it has increased due to additional fuel excise taxes, which would continue to increase next year,” she told the BusinessMirror. “So, production costs have increased, therefore, the P17 [support price] will only provide farmers minimal margin. That’s why we call for the government to maintain the current buying price given the additional excise taxes on fuel products,” she added. Tanchuling proposed that the government should just hike the NFA’s current budget of P7 billion so it would be able to buy more palay from rice farmers.

Backfire

R AUL Q. MON T EM AYOR ,

Federation of Free Farmers (FFF) National Manager, said the government’s plan to remove the P3-per-kilogram incentive given to farmers that sell their palay to NFA could backfire against them. “It w i l l be perceived by farmers as a move that reduces support for them during a time that they urgently need help,” Montemayor told the BusinessMirror. “Parang tinitipid sila ng gobyerno na siyang gumawa ng problema in the first place,” Montemayor added. (It’s like government, which created the problem in the first place, is skimping on them). Agriculture Secretary William D. Dar on Wednesday said the National Food Authority Council (NFAC) may remove the incentive of the government for farmers who sell their unhusked rice to the state-run food agency. Dar said reverting the NFA’s buying price for palay to P17.70 per kg, from the current P20.70 per kg, will allow the government to buy more rice from planters. The NFAC approved the buffer stocking incentive (BSI) of as much as P3 per kg last October to help the NFA beef up its buffer stock, which was almost wiped out last year.

Over

SEN. Cynthia A. Villar said it is high time for the NFA to remove the BSI since the 2018 “artificial rice shortage…is over.” “The buying price was increased because the private sector hiked their prices,” Villar said at the Senate Committee on Agriculture and Food hearing on Wednesday. “I think it is the right time to revert your buying price to P17.70 per kilogram since the problem last year is over.” Jasper Emmanuel Y. Arcalas

BusinessMirror Special Feature

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Friday, August 30, 2019 A7

NINE REASONS TO REDISCOVER THE PODIUM STAY fit and fab at The Podium’s prestige wellness establishments such as Electric Studio, Manila’s first indoor cycling boutique.

THE Podium’s exterior is both visually striking and functional. Lush garden walls wrapping the structure offer a refreshing welcome to visitors. The monumental green wall is the largest in the country, with over 6,500 plants that help cool and purify the property’s environment.

HERE’S so much to rediscover and explore as The Podium officially showcases its new expansion on September 10, 2019. A joint venture between BDO Unibank and Singapore’s Keppel Land Limited, the mall is redefining comfort and luxury with its sleek, sophisticated design, and extraordinary selection of retail, dining, wellness, and leisure offerings. When The Podium first opened in 2002, it celebrated the good life with its elegant design, upmarket stores and specialty restaurants. With that, it became the hub of memorable embassy events, concerts, and art exhibits. Today, as part of the mixed-use Podium Complex, the new Podium mall is redefining the Ortigas Business District skyline together with its other components, The BDO Corporate Tower and The Podium West Tower. Here are nine reasons why it is worth revisiting and re-discovering. nIt is an architectural masterpiece. With its innovative, functional, and streamlined design by Arquitectonica and Felix S. Lim and Associates, the Podium presents a careful composition of spaces, volumes, colors, and light. The exterior exudes visual lines that are designed to be eye-catching with greens that wrap the structure. nIt’s a Breath of Fresh Air. Lush garden walls wrap the mall’s façade offering a refreshing welcome to visitors. The monumental 2,000 square meter green wall is the largest in the country with over 6,500 plants which help cool and purify the property’s environment. By incorporating green initiatives and sustainability with its sleek, sophisticated design, The Podium has received prestigious awards and citations: the LEED Gold Mark (Core & Shell) pre-certification by the US Green Building Council, and the Green Mark Gold Award by Building and Construction Authority of Singapore. nThere’s More Fun at the Top. Designed as a large curvilinear pod with views over ADB Avenue, the mall’s Roof Deck complements the rectilinearity of the Podium façade in the same way the two towers form contrast and complement each other. The 800 seat capacity multi-function The Podium Hall aims to become the latest venue for shows, product launches, and corporate events. nPresenting a Restaurant Renaissance. Rediscovering The Podium also means trying out its tasteful selections of specialty restaurants, food halls, and takeaway nooks. These include the modern Spanish tapas bar Las Flores, New York City’s acclaimed Wolfgang Steakhouse, the first Salvatore Cuomo café named after the renowned Italian chef, Nikkei Japanese-Ameri-

can ceviche and sushi bar, Paradise Dynasty, home of the famed eight flavor xiao long bao, and Niu by Vikings extravagant buffet spread. Flagship shops of Japan’s Bake Cheese Tarts, Hong Kong’s Xing Fu Tang milk tea, and the world famous Ben’s Cookies offer delicious takeaways; while the Corner Market serves as the mall’s food hall featuring unique and hip dining options. nLuxe Retail Therapy. It’s all about the latest in fashion, beauty, and jewelry. The upscale multi-brand lifestyle shops include Assembly, Cul de Sac, and @ Tokyo, which offers a uniquely Japanese shopping experience with its row of stores laid out like a shopping street in Tokyo. Luxury timepieces and accessories can be found in Omega, Breitling, Swarovski, and soon to open Rolex stores; while Dior, Estee Lauder, Kiehl’s, and Jo Malone lead the way in beauty and fragrance. nPrestige Wellness Services. There are many ways to stay fit and fab at The Podium. Electric Studio is Manila’s first indoor cycling boutique, Options Studio is Asia’s premier Pilates and movement center, while Yoga+ is a holistic wellness center and studio. Kinetix Lab is a premium strength and conditioning facility, while The Spa and Barre 3 offers complete wellness services. In the surrounds of The Podium Complex, there’s still more to discover : nThe Iconic Cubi. The new complex also highlights Cubi, a metal sculpture by National Artist Arturo Luz, which is geometric in form, commanding in its stature, and yet buoyant in space. A prominent presence in the Ortigas district in the 1980s, it was originally commissioned for a modernist building designed by National Artist Leandro Locsin for Benguet Corporation. Today, it continues to be an attraction as a centerpiece that ties together the different elements of the complex. nThe BDO Corporate Tower. This sleek 48 storey high rise with a cross shaped, symmetrical plan, provides a maximum number of corner office spaces overlooking the Ortigas and ADB District. It also brings BDO’s wide range of corporate and retail banking services closer to those living, working, and shopping in the area.

THE Podium redefines comfort and luxury with its sleek, sophisticated design, and extraordinary selection of retail, dining, wellness, and leisure offerings.

nThe Podium West Tower. Located on top of the five storey mall, the 48 storey high rise is intended to both contrast and complement the BDO

Tower. While the BDO Tower is straight, orthogonal and very masculine in appearance, the new tower has chamfered, curved corners that

KIDS are in for an unforgettable, fun-filled experience at KidzCity at The Podium.

create an hour-glass in profile, and evoke a harmonious whole. The Podium’s design team consists of ARQUITECTONICA, Mall

Designer; FSL & Associates, Architect; Design Coordinates, Inc., Project Manager; and DDT Konstract, Inc., General Contractor.

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Friday, August 30, 2019

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Brisk business seen in Subic airport with MRO hub’s launch

By Henry Empeño | Correspondent

UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) is now expecting more business at the Subic airport with the opening here on Monday of a facility targeting Asia-Pacific clientele for aviation maintenance, repair and overhaul (MRO) services. SBMA Chairman and Administrator Wilma T. Eisma said the MRO project by business aviation services provider Aviation Concepts Technica l Services Inc. (ACTSI) will boost the government agency’s program for the full development of the Subic Bay Inter nationa l A irport (SBIA) as a 24/7 hub for business aviation. The ACTSI is set to provide hangar parking, corporate jet maintenance, repair and overhaul, as well as aircraft corrosion preventive solutions at its Subic hangar. ACTSI, the maintenance arm of Falconer Aircraft Management

Inc., which is an affiliated firm of International Container Terminal Services Inc. (ICTSI), has upgraded close to 18,000 square meters of hangar space at the SBIA for this purpose. In last Monday’s launch, the ACTSI hangar easily accommodated a 2010 Gulfstream Aerospace GIV-X (G450), which is more than 89-feet long and with a wingspan of more than 77 feet. A helicopter was also parked inside the facility. The ACTSI, which has signed a 25-year lease agreement with the SBMA, also hopes to leverage the SBIA’s 9,000-feet long runway for easy takeoffs and landings for its

THIS photo shows the aviation maintenance, repair and overhaul (MRO) services facility by the Aviation Concepts Technical Services Inc. in a hangar at the Subic Bay International Airport (SBIA). The MRO services facility is expected to boost business activity at the SBIA.

large-sized aircraft clients.

Snowball

EISMA said this development could snowball into more business for the Subic airport, which once served as a 24-hour Asian hub of the global courier giant Federal Express until 2009. “We have long dreamed of developing the SBIA into a business and general aviation airport in the

Joy Rojas’s ‘Rising Sun’ at SM Art Center

country; and this project is one huge step toward realizing that vision,” Eisma said on Thursday. “We are banking on the strategic location of Subic in the Asia-Pacific region to boost SBIA’s chances to become a regional player in the MRO business.” The Subic airport started out in 1951 as the Naval Air Station Cubi Point of the United States Navy and was converted into a

@akosistellaBM Special to the BusinessMirror

By Cid Reyes

‘L

OOK at walls splashed with a number of stains, or stones of various mixed colors. If you have to invent some scene, you can see there resemblances to a number of landscapes, adorned with mountains, rivers, rocks, trees, great plains, valleys and hills, in various ways. Also you can see various battles, and lively postures of strange figures, expressions on faces, costumes, and an infinite number of things, which you can reduce to good integrated form. The mind is stimulated to new discoveries…because by indistinct things the mind is stimulated to new inventions.” Thus advised Da Vinci on how to break down the visual impasse that inevitably afflicts artists who in time felt that they have painted themselves into a corner. While Da Vinci clearly addressed his counsel to representational artists—abstraction as a concept had not as yet emerged—it was used as a stimulating starting point by modernist artists who preferred not to paint the literal, physical world—but a world beyond the reach of the visible eyes. One might say that the artist Joy Rojas has looked at stained walls and, to his surprise, discovered that the wall by itself was visually rewarding enough, possessed of its own natural power and aesthetic beauty: its robustness and sturdiness, its solidity and stability. And yes: the mystery and alchemy of the natural forces that have rained down and shined on

those stone walls through the years. As the legendary American artist Frank Stella was said to have emerged an abstractionist full-blown as if from the brow of Zeus, the same can be said for Joy Rojas—who was formally educated as a lawyer and not as a classical painter. Since his first solo show, he has taken his bow to the artists’ community as a full-fledged abstractionist. On view at the SM Art Center is Joy Rojas’s fourth solo show, titled Rising Sun, a presentation of his recent works, organized by Galerie Anna. In these robust and solid works, Rojas once again transforms a surface into an encounter with the infinite varieties of sensation, tension and languorous mood, dominated by a low-key, grayed-out, monochrome palette and a lavish feast of textures. Rojas as an artist is categorized among the minimalists—it is true that his works are spare, reductive, free of clutter and distraction, rejecting the gestural brushstroke, depth and visual illusion—but they are lean without being arid, austere or anorexic. As if in recompense, Rojas gratifies the viewer with ample energy of execution, conveyed and felt by the viewer as a vitality of expression and the sheer appetite for the palette knife’s application of pigment. The artist has shared that his titles are drawn from a most unexpected source: the Dividendazo, the racing program that lists the names of the competing horses. Thus the titles Majestic Ruler, Jade Hunter, Silver Story, Animo, Millennial and Sun God.

Rojas is, not known to most, a horse breeder, and was once the chairman of the Philippine Racing Commission. A bow, however, to his legal profession is Res Judicata—“a matter judged.” Veering away from the square and rectangular format, Rojas seizes the cruciform and converts it into a shaped vessel for spiritual exhortation. He has christened the works Ushpizin—meaning “guests” in Aramaic. It is the Jewish Feast of the Tabernacles. The word is collectively used, referring to the guests Abraham, Isaac, Jacob, Moses, Aaron, Joseph and David. For Rojas, the choice of the cruciform is an emotive advance to the symbol of Christianity. As to the exhibition, title Rising Sun, the viewer may in gratitude bestow on the artist himself such a deserved honorific. Through the years, classical as well as contemporary artists, like Joy Rojas, have looked at, and mined, those stained stone walls, finding therein such infinite images, stimulating them to new inventions—as if indeed the Mona Lisa herself had smiled at them.

Bolstered

IN a forum sponsored last year by the Hong Kong-based Asian

DOT, DOTr’s ‘Lipad’ seen taking off in September By Ma. Stella F. Arnaldo

ROJAS at his studio and one of his works in the artist’s fourth solo show titled Rising Sun at the SM Art Center.

commercial airport under the SBMA in 1992. The SBMA has since marketed SBIA for its strategic location, it being only 1.5 hours away from Hong Kong, Macau and Taiwan and just three hours away from Singapore and Kuala Lumpur.

Business Aviation Association (A sBA A), av iation executives e x pressed ent hu si a sm about developing Subic into a fully integrated aerospace park and aviation hub. Eism a a l so sa id t h at t h at ent husi asm has been f u r ther bolstered by concrete suppor t f rom t he Phi l ippine gover n ment wh ic h a l loc ated P553 million to improve SBIA equ ipment a nd i ntensi f y it s marketing campaign. “Along this line, we are now working to revive domestic and international f light operations at the SBIA; regain the SBIA’s status as an international airport; and settle pending issues to make Subic a 24/7 air terminal,” Eisma added. AC TSI President a nd CEO Fernando L. Gaspar and ACTSI General Manager John O’Meara led the soft launch of the Subic hangar with Sen.Richard Gordon as guest of honor. The senator, who initiated the establishment of the SBIA when he was SBMA chairman, welcomed the business venture of ACTSI and pointed out that the airport is one of the strategic advantages of the Subic Bay Freeport Zone.

HE Department of Tourism (DOT) and Department of Transportation (DOTr) will soon be signing an agreement to implement a convergence program aimed at expanding the number of airports in the country in a bid to further boost tourist arrivals. This was disclosed by DOT official Arturo P. Boncato Jr. in a presentation during the seventh meeting of the Tourism Coordinating Council (TCC). Boncato, undersecretary for Tourism Regulation Coordination and Resource Generation of the DOT, also presented the timeline for the proposed convergence program and for its implementation from 2020 until 2022, the last year of the Duterte administration. He told the BusinessMirror that representatives of the DOT and DOTr are currently finalizing the list of priority airports to be included in the “Leveraging Infrastructure Program for Airport Development” (Lipad, fly in the vernacular), after consultations had been held with airlines. The agencies are now in the process of “seeking support from the boards of the CAAP [Civil Aviation Authority of the Philippines] and other airport authorities,” Boncato added. Both agencies are aiming for a formal signing of a memorandum of agreement by their respective Secretaries in September, which will commence Lipad’s immediate takeoff.

NTDP

EVERY year, thereafter, Boncato emphasized, both government agencies will collaborate “in the preparation of annual tourism airport infrastructure program…in support of tourism value propositions of destinations,” aside from the regular implementation of the convergence activities with the private sector and other agencies. “Development and enhancement of airside and landslide facilities priority tourism airports is crucial to meeting the NTDP [National Tourism Development Plan] targets to attract more foreign tourists and domestic passengers,”

he said during the TCC meeting. Under the NTDP 2016-2022, the DOT is targeting to attract some 12 million foreign visitor arrivals in 2022. The domestic tourism targets are being revised after having been exceeded already in 2018, where 110 million heads were recorded. The original target for 2022 was 89.2 million domestic tourists. “Lipad also aims to provide guidance to DOTr and concerned attached agencies in ranking airports based on tourism importance and airport demand index in order to address the needs of the tourism industry,” Boncato explained.

Clusters

BONCATO said many of these priority airports will fall under the DOT’s tourism clusters, seven of which are in northern Philippines, six in central Philippines, and seven in southern Philippines. Of these clusters, nine are dubbed “gateway clusters,” which host international airports, as well as 49 tourism development areas. Tourism Secretary Bernadette Romulo Puyat said in a statement she considers the TCC Seventh Meeting as “very productive and fruitful with an impressive turnout from its 25-member agencies.” Aside from updating members on Lipad, she said the DOT also presented the state of the Philippine tourism industry, an update on the Tourism Road Infrastructure Project (TRIP) it implements with the Department of Public Works and Highways, as well as DOT’s new endeavor for the local communities with its proposed “TouRIST” (Transforming Communities toward Resilient, Inclusive and Sustainable Tourism) program. “We are elated that the members of the council are unanimous in expressing their continued support to the aforecited projects and initiatives of the department,” she said.

Exciting times

THE TCC is a 25-member body created under Republic Act 9593 (Tourism Act of 2009), which serves as coordinating body for national tourism development efforts including the NTDP, and includes heads of concerned national agencies and government offices, DOT attached

agencies, nongovernment organizations and the Tourism Congress of the Philippines. The TCC’s last meeting was in February 2017 under then Tourism Chief Wanda Corazon Tulfo-Teo, where they approved the NTDP. The NTDP was later presented to the Cabinet for Duterte’s approval. “Tourism is at its most exciting times. The Philippines has kept a high profile in the world tourism radar,” Romulo Puyat said in her keynote speech at the TCC meeting. “We are still among the sought-after destinations by many foreign travelers. In fact, foreign tourist arrivals to the country continue to grow by leaps and bounds.” Some 4.1 million foreign visitors were received by the country in the first half of 2019, up 11.43 percent, she noted, with inbound tourism receipts reaching P245 billion, up 17.6 percent from the same period last year.

Halfway mark

ROMULO Puyat said the tourism industry is reaching its “halfway mark.” Hence, “it is time for us to come together and evaluate all our tourism convergence efforts, assess the effectiveness of the strategies and programs identified, make adjustments on the plan if needed, and prioritize the completion of remaining tasks at hand to ensure that the NTDP targets are achieved by its completion in 2022.” The DOT chief reiterated her agency’s firm role as advocates of sustainable and responsible tourism, as it achieves its annual targets. As such, she said her priority thrusts include the pursuit of strong partnerships to ensure sustainable development of tourism, the review and assessment of existing tourism products while conceptualizing and developing new products and expansion of the current market base. Her other thrusts are: “Improvement of policies on access, connectivity and security; evaluation and endorsement of tourism development projects for investments; restart of global advertising and promotions efforts; continuous monitoring and enforcement of mandatory accreditation; and, encouragement and assistance of local government units in crafting a sustainable tourism development plan.”

TECHNOLOGY FOR BETTER USER EXPERIENCE

A BusinessMirror Special Feature

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Friday, August 30, 2019

The heart of digital transformation By Leony R. Garcia

ULLY digital banking in the Philippines is moving from its infancy. Foreign banks are already making their presence known, while the country’s top banks are trying their best to catch up. Regardless, there’s no mistaking it—the future of banking is definitely here. Digital Banking or Online Banking

VIA early gadgets banking has been popular in recent years, but it has significant limitations. For one, you can only get access to online banking apps if you already have an account to a specific bank. In order to open a bank account, you have to go to a bank and have it processed there. Also, you can’t make deposits to your account through online banking. You have to find deposit machines, which are not as abundant as ATMs, or you go the hassle of going to the bank and have bank tellers deposit the money for you. For some, queuing takes only an hour to deposit, transfer or withdraw their money. But it’s a big deal for the folks in rural areas who has to waste a day or two to travel to the nearby city to go to the bank. Whereas with digital banking, you can open a digital bank account in a matter of minutes. Just input your basic information, take a photo of your primary IDs and signature, and presto! You now have a bank account. You can also deposit money right where you are, although to some extent. Just take a picture of your check and the banking app will instantly deposit the money to your account. While it doesn’t work on paper bills yet, it’s still better than actually going out to the bank.

Leading the charge in the digital banking space is Dutch giant ING (Internationale Nederlanden Groep) Bank. Considered as one of the most prestigious banks in the country, ING Bank was the first one to explore the potential of digital banking in the country. And just recently, they launched the firstever fully digital retail bank in the Philippines. It also partnered with PESONet, InstaPay, and 27 online payment channels to make deposits and fund transfers easier. Moreover, ING currently offers a 2.5% savings interest, higher than most banks. Another relatively new player is Malaysia’s own CIMB (Commerce International Merchant Bankers) Bank. A banking heavyweight in ASEAN countries, CIMB Bank also realized how Filipinos are progressive when it comes to digital banking trends. Just a few months ago, they launched their all-digital mobile-first banking app called OCTO, complete with an adorable octopus mascot. Traditional banks have also started to respond. For instance, PNB recently launched their first all-digital branch in San Juan City, while Unionbank basically did the same in Makati City. Meanwhile, Robinsons Bank has upgraded it’s Personal Online Banking portal with new features and security. It can be accessed through new Online Banking portal by visiting

www.robinsonsbank.com.ph Slowly but surely, these banks will help Filipinos familiarize themselves with digital banking. Give it a few more years and eventually, anyone who can use a smartphone will now have their own digital bank account.

Digital Transformation

BUT digital transformation doesn’t stop with digital banking. Customers and clients—or simply the users—would always have high expectations for seamless and relevant interactions across all digital channels at all times. Thus successful companies need to be ambitious in improving their products and channels. They must look at them from the users’ point of view to drive digital transformation and remain compelling in a competitive environment.

Transform or lose customers

COMPANIES must satisfy sophisticated digital users with multiple devices who have a familiarity with life-on-demand, whether catching a taxi with Uber or expecting next-day delivery for the most obscure orders on Amazon or locally, Lazada. The complicated processes and convoluted experiences of the past have been simplified. This simplicity has disrupted the

environment many businesses operate within. Older platforms have user-facing interfaces that are now severely out of step with how they are used. Consumers now have the flexibility to easily find alternative choices based on their experiences and needs. They can look at their options and create their ideal combinations of product, channel and brand. They are making decisions based on what is easy, efficient and emotionally engaging. Companies must understand this in order to retain their users and attract new ones.

Users control engagement

YOUR users do not think about which device they are using to transact. They expect touch points across all channels to be aware of their previous engagements with your brand, making best use of the capabilities of the device to perform relevant functions within each channel. Users are now subconsciously judging the efficacy of each touch point with your company; against not only your competitors, but also their experience across all digital platforms.

Focus on how users actually behave

A focus on user experience is a focus on the way your users actually behave in their real lives. A banking

or travel customer may begin an interaction online, but then switch to the contact center, before finally visiting the branch or office. There has to be a common connected platform to support this journey that prevents users having to explain the context all over again. Data now drives the experience The connected, data-enabled world means new and emerging behaviors, with expectations of a fully connected journey. It is the persistence of data across channel interactions that helps deliver seamless user experience. Digital products need to be personalized and tailored to changing individual needs and contexts in real-time, putting a productive user experience at the forefront of business priorities.

Put users at the center of your process

PUTTING users at the center of your digital transformation agenda means focusing on what they want from your software, not an internally-focused agenda around what is available. Understanding users and their relation to the business means achieving a real understanding of the context and motivation for their engagement into your process. Only then can you make them a part of that process, to make your investments more useful to them.

User experience principles: Know the user

WHEN designing the user experience, understanding the situation and context is critical: what tasks are they trying to complete, what are their motivations and what outcome are they looking for? Exist in the context Understanding the environment in which a product will be used helps the design process validate if a product is viable and will be successful in the marketplace when launched. For example: Who are the key competitors or what market alternatives exist for such a product? What type of technologies and technology partners are required to develop a product or service and launch it successfully? Would I use the software if this was my job?

Know the business

USER experience should be guided by a business strategy agreed across all departments. This approach provides a focus on the different perspectives within the business and leads to the vision for the software product design. There’s no doubt that seamless technology awaits the Philippines; it’s just a matter of when. And by the looks of it, that future is within our grasp. The challenge now is to convince the skeptical public to embrace digitization.

A10 Friday, August 30, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

No more school homework?

HILE not a critical national issue, homework assignment is a topic that we are all going to have to form an opinion about now that legislation has been filed to ban it.

Probably no one likes homework. It creates extra work for teachers. Students are probably unanimous against homework. Even parents are not happy when family plans are disrupted by weekend homework assignments. But eliminating this educational tool is not a simple decision to make. However, the complete schooling process is obviously more than teaching a young person to read, write, and do arithmetic. In a strong sense, the classroom environment is also a “practice” place for being an adult in the real world. It teaches about how to deal with the authority of the teacher who is the “boss” of the classroom. A student must learn how to focus on a task surrounded sometimes by other students who are disruptive. There are the interpersonal relationships in a group setting. There is the discipline of both knowing when to talk and when not to in line with the reality of having to “go along to get along.” Researchers at the University of Tübingen in Germany conducted a study in 2017 of 2,800 students between fifth and eighth grades. At the beginning of every school year, the kids answered questions about whether they gave their best effort on their past 10 homework assignments in math and German. They then reported on how neat and diligent they believed themselves to be. Study author Richard Göllner wrote: “Our results show that homework is not only relevant for school performance, but also for personality development—provided that students put a lot of effort into their assignments.” The study found that students who said they took their homework seriously were more conscientious, and vice versa. But the academic studies have shown—if not mixed results—at least that it is not a simple question of “homework or no-homework.” A Duke University study in 2006 found that older students who were diligent about doing their homework performed better. Research published in the High School Journal indicates that students who spent between 31 and 90 minutes each day on homework scored about 40 points higher on the college entrance-mathematics test than their peers who spent no time on homework. However, an analysis from Stanford University in 2004 revealed that kids with too much homework were stressed and sleep-deprived. Homework reinforces classroom teaching and allows for better retention of the subject matter, says another study. Further, the self-teaching that comes from homework, forces students to learn how to organize and manage time to improve study habits. Homework allows for greater parent-child interaction when the parent takes an active role in the homework process. There is one general consensus though from the large number of studies that have been conducted. From the Review of Educational Research: “In elementary school, homework had no association with achievement gains when measured by standardized tests results or grades. Fourth grade students who did no homework got roughly the same score in the National Assessment of Educational Progress math exam as those who did 30 minutes of homework a night.” Therefore, House Bill 3611, which seeks to remove homework as a requirement, and have Kinder to Grade 12 students do academic activities solely within school premises, may be an overreach. There is a great difference between a fourth grade student and one in twelfth grade. Since 2005

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Wanted: A political reformer Manny F. Dooc

TELLTALES

HERE’S wisdom in the suggestion that neophyte solons should get training as they warm up to their new roles as legislators. Lawmaking is a critical function that requires consummate parliamentary and lawmaking skills. We do not expect our new legislators to have the gift of gab and wit like Senators Ninoy Aquino, Ferdinand Marcos and Soc Rodrigo, or mastery of parliamentary rules like Senators Arturo Tolentino and Jovito Salonga, and the oratorical prowess of Senators Raul Manglapus and Doy Laurel, but they should at least possess a modicum of skills to get the respect not only of their peers but, more important, from the gallery. It is to Senator Bato de la Rosa’s credit that he himself acknowledged that he needed training on how to perform his functions effectively. Equally significant is the oversight function of the Congress, which involves inquiry and investigation skills. A legal or law-enforcement background can serve a legislator in good stead in performing this role. This is best exemplified by Senators Franklin Drilon and Ping Lacson who are effective inquisitors. Asking the right questions at the right moment is valuable in any legislative inquiry. After a month that Congress has been in session, somehow we got a glimpse of their expertise, or lack of it. The learning curve is long and some even take a full term to get into the groove. Others serve in the Lower

House first to get their primary education and this is the favored course of many. While they are learning the ropes, it’s prudent for the new kids on the block to heed the counsel of their colleagues “to observe, watch and listen” before grabbing the microphone. The rule of thumb is: Stay low and out of the line of fire unless you are ready to engage. nnn

WATCHING the current session of Congress and the present crop of legislators that we have, we cannot help but long for the good old days when we had maverick senators personified by Don Claro Recto, the father

and son, Juan and Lorenzo Sumulong, and more recently Senator Miriam Defensor-Santiago and Serge Osmeña whose independent streak and character have entrenched the Senate as an autarkic body highly regarded by the public with awe and respect. In its strict sense, politics is the most sublime profession where an individual is expected to sacrifice everything for the common good. In private life, an individual promotes his personal interests over and above the welfare of others provided he pursues them within the bounds of the law. Obviously, there is a dearth of political courage among our contemporary politicians. For instance, how many would avoid sponsoring or supporting a legislative measure for fear of getting a backlash and compromise his reelection bid in the process? Sen. Ralph Recto’s experience in sponsoring the value-added tax will always serve as a stark reminder to every practical politician. Many will not choose the less traveled high moral ground but instead take the comfortable route paved easy by popular opinion and compromise. They cling to the well-accepted adage that “the way to get along is to go along.” Being a political reformer is a lonely task, which only a politician with an intrepid soul and a brave heart can undertake. He can be the subject of ridicule, abuse and calumny but let him take solace from the words of former US President Andrew Jackson: “One man with courage makes a majority.”

nnn

THE Reserve Officers’ Training Corps is an excellent preparatory military training program for our college students, and now to be integrated in our senior high-school curriculum. It is an effective citizenship training that fosters love of country and interest in its military defense. Every country adopts and pursues a legitimate military defense program to protect itself against foreign invasion and military adventurism. We should not wait for the “war clouds” to gather before we start training our young men to bear arms. Our country is located in a potential flashpoint where any serious military provocation or political faux pas may ignite a conflagration. China’s bullying tactics, the threat of a militarized Japan, unfriendly relations between Japan and South Korea, and the growing missile arsenal of North Korea complicated by its predisposal to test fire missiles at its leader’s fancy should heighten our concern to expedite the reintroduction of ROTC in our schools. Our geographic features consisting of more than 7,000 islands and having one of the longest coastlines in the world demand that we should have at least a half million adequately trained ROTC cadets to augment our undermanned and under-equipped soldiers and police forces. Israel and Singapore are small countries but they are military powerhouses regionally because of their strong and well-trained citizen armies.

Disaster risk resilience: Key to protecting vulnerable communities

By Armida Salsiah Alisjahbana

HE past five years have been the hottest on record in Asia and the Pacific. Unprecedented heatwaves have swept across our region, cascading into slow onset disasters, such as drought. Yet, heat is only part of the picture. Tropical cyclones have struck new, unprepared parts of our region and devastating frequent floods have ensued. In Iran, these affected 10 million people this year and displaced 500,000 of which half were children. Bangladesh is experiencing its fourth wave of flooding in 2019. Last year, the state of Kerala in India faced the worst floods in a century. This is the new climate reality in Asia and the Pacific. The scale of forecast economic losses for the region is sobering. Including slowonset disasters, average annualized losses until 2030 are set to quadruple to about $675 billion compared to previous estimates. This represents 2.4 percent of the region’s gross domestic product. Economic losses of such magnitude will undermine both economic growth and our region’s efforts to reduce poverty and inequality, keeping children out of schools and adults of work. Basic

health services will be undermined, crops destroyed and food security jeopardized. If we do not act now, Asia-Pacific’s poorest communities will be among the worst affected. Four areas of Asia and the Pacific are particularly impacted, hot spots that combine vulnerability to climate change, poverty and disaster risk. In transboundary river basins in South and Southeast Asia, such as the Ganges-Brahmaputra-Meghna river basin, floods alternate with prolonged droughts. In Southeast Asia and East and Northeast Asia

earthquakes, tsunamis and landslides threaten poor populations in the Pacific Ring of Fire. Intensifying sand and dust storms are blighting East, Central and Southwest Asia. Vulnerable populations in Pacific Small Islands Developing States are five times more at risk of disasters than a person in South and Southeast Asia. Many countries’ sustainable development prospects are now directly dependent on their exposure to natural disasters and their ability to build resilience. Yet, this vicious cycle between poverty, inequalities and disasters is not inevitable. It can be broken if an integrated approach is taken to investing in social and disaster resilience policies. As disasters disproportionately affect the poor, building resilience must include investment in social protection as the most effective means of reducing poverty. Conditional cash transfer systems can be particularly effective as was shown in the aftermath of Supertyphoon Haiyan in the Philippines.

Increasing prearranged risk finance and climate risk insurance is also crucial. While investments needed are significant, in most countries these are equivalent to less than half the costs forecast to result from natural disasters. The use of technological innovations to protect the region from natural disasters must go hand in hand with these investments. Big data reveal patterns and associations between complex disaster risks and predict extreme weather and slow onset disasters to improve the readiness of our economies and our societies. In countries affected by typhoons, big data applications can make early warning systems stronger and can contribute to saving lives and reducing damage. China and India are leading the way in using technology to warn people of impending disasters, make their infrastructure more resilient and deliver targeted assistance to affected farmers and citizens. Asia and the Pacific can learn from See “Disaster,” A11

Opinion BusinessMirror

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Decongesting the metropolis through rail

Friday, August 30, 2019 A11

Writing travel Tito Genova Valiente

ANNOTATIONS

Sonny M. Angara

BETTER DAYS

N December 1966, Toronto City’s Planning Board published Proposals for A New Plan for Toronto. At the time, the city had been experiencing mounting traffic, and faced the questionable construction of the Gardiner Expressway and the Don Valley Parkway. The Planning Board’s text posed a challenge: “A choice must now be made as to how [the Toronto region] will grow. Will it grow haphazardly, with a continuously increasing reliance on automobiles, or can a pattern of orderly growth be established, with development focused on mass transit so that reliance on cars is reduced? Integrated planning of development and mass transit would free people of the tyranny of the automobile and lay the foundations for the orderly growth of the region as a civilized, efficient place to live and work.” Clearly, Toronto planners had an idea of how automobile-centric infrastructure could be detrimental to metropolitan development, and how mass transit would enable the city to flourish. During a recent Senate session, Senate Majority Floor Leader Migz Zubiri delivered a privilege speech highlighting the need for steps to be taken to make our cities more walkable and bike-able.

He then reiterated his call for elevated walkways and bikeways to be built along Edsa, as part of his concept of inclusive and peoplecentric mobility. In support of his speech, I manifested what an official from the Philippine National Railways (PNR) revealed to us earlier that day. In 1938, there were 2,400 kilometers of railroad tracks in the country. Now, only 77 kilometers are left, including the MRT and LRT lines. Clearly, we have regressed and have allowed the dominance of the automobile to reign. We need to reboot our thinking. Expanding and rehabilitating our railways systems should be the first step taken by government to decongest traffic in Metro Manila if we want to make an impact right away. Sen. Sonny Angara has been in public service for 15 years—nine years as representative of the Lone District of Aurora, and six as senator. He has authored and sponsored more than 200 laws. He recently won another term in the Senate.

Save the Amazon Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

ROTHERS and sisters, the conflagration occurring in the Amazon forests in South America is indeed worrisome, particularly in parts of Brazil, which is home to over 3 million species of animals and plants. The lives of over a million indigenous peoples there are also in danger. This is one great tragedy that is not only affecting Brazil but also the entire planet. The Amazon rainforests are the “lungs of the Earth,” because it’s where 20 percent of the oxygen in the planet comes from. It also slows the effect of global warming, which causes climate change. According to the Brazil National Institute for Space Research, over 70,000 cases of fires from January to June this year have occurred in parts of the Amazon within the territories of the country. Scientists and indigenous groups even added that these were not simple forest fires that occurred in times of drought. The wide deforestation that paves the way for destructive businesses like logging, mining, and cattle ranching are considered causes of fires in the Amazon, and it is said that these businesses have permission from the Brazilian government. President Jair Bolsonaro’s administration denied these allegations, and even said that nongovernment organizations and critics intentionally caused the fires in order to ruin the president’s image to other countries. In the World Wildlife Fund or WWF’s forecast, if the destruction of the Amazon rainforests continues, 27 percent of these rainforests will ultimately lose all of the trees by the year 2030. The effects of this to the world are not a joke as they affect the current generation and the future of mankind. Parallel to the loss of trees, plants, and animals in that area of the world is the loss of balance in nature. It is said in the Catholic social teaching Centesimus Annus by Pope John Paul II, God gave the world to man in order for all to live without disregard and prejudice. This is where the social principles of the Church are rooted regarding the universal destination of earthly goods. It cannot be that only a few will benefit from the

Earth’s resources, while many are denied the opportunity to prosper from these blessings given by God. The book of Proverbs 22:2 said: “Rich and poor have this in common: The Lord is the Maker of them all.” It is also unacceptable that a few are destroying worldly treasures for their own interests without regard to its effects, not only in nature, but also in our fellowmen. The destruction of nature, regardless of how they say it is for development, is the destruction of our common home, as Pope Francis said in his encyclical Laudato Si’. The Saint Pope compared our planet to a sobbing brother—crying because of cruelty and abuse. We burn his forests (like what is happening in the Amazon now). We break down his mountains without care and regard for its effects in the coming generations. If we will not take action to preserve and care for nature now, there will come a time when we ourselves would lose our homes, food, and even our lives. Brothers and sisters, God gave us the world as a blessing of creation, and we have no right to violate this for the sake of future generations. Which is why being far away from the Amazon is not an excuse for us not to know the situation there because this is where the future of all creation is at stake.

Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

OU have heard of that quote—it is not the destination but the journey to it. Take that from tour and retreat guides but not from me. That is a losing proposition. In my opinion, one travels, that is for fun and leisure, because one wants to reach a point. That point has been known already either through friends and memories. Books on destinations are also sources of information about places and locations we want to reach, and experience. There are travel guides and travel guides. The most ubiquitous—and also of the lowest quality—are those colorful (because they are literally full of colors) brochures. Be careful about them—they are not about the journey and they are not about destination. These brochures are for profit. You know what they say, the Greeks have thought of it already. Even profit. So there is Sophocles. Heed him when he says: Profit is sweet, even if it comes from deception. This must be the same Sophocles who is quoted by Matthew Arnold in his magisterial poem, “Dover Beach:” “Sophocles long ago/Heard it on the Ægean, and it brought/Into his mind the turbid ebb and flow/Of human misery…” Let me guess, the great tragedian must be talking of the coming and going of tourists? Levity aside, very few take writings about destinations and travels seriously. It is therefore like the grace of any almighty when one encounters writings about places and hyperventilating at the turn of phrases and the stringing of words like marionettes. I met these essays by way of UK publications sent in by my brother based in London. On the cover of these magazines is emblazoned nearly 2-inch of the title Travel. Above the name are the words The Sunday Times. I respond to these magazines the way I respond to another material, the National Geographic: I look at the

photos first and relish the vistas captured. The texts I attend to later. The magazine is “commercial” and I don’t think the publishers will deny that. Pages after pages announce specific hotels and inns and travel services. It is when Travel Magazine sort of makes a pause and ventures into presenting photographs and essays that it opens up a world that, to me at least, is being discovered only now. Always, there are three full-page photographs featured under the tag “Take me there.” In the July 2018 issue, there are two photos that seduced us into thinking about how good photographers can make us look at nature. One is about Bora Bora in the South Pacific, taken by Andrei Duman and with text by Alex Allen who speaks of it as “a visual ode to the colour blue.” Sprawled across two pages are “shades of ozone, turquoise cornflower blue.” Then there is the image of the “Devil’s Bridge,” a natural formation of a semicircular arch, which forms a circle when one looks at it altogether with the reflection on the water. “Awesome” finds a perfect place in one’s appraisal of these photographs. The secret perhaps is in the presentation, in how the photographs, in a sense, “waste” a space just to be able to bring us to those sites of enchantment. In the November 2018 issue, there is this intensely glowing im-

age taken of a vineyard in Umbria, where the landscape “is a picture of pomegranate reds, toasted tobacco browns and glowing honey golds.” Those are modifiers that are sensual in the auditory and olfactory sense of sensing. You see and you smell. In the same July issue, Nick Redman returns to Turkey and writes of a lobby in a hotel: “The lobby had the perfume of lilies, a safe embrace.” Redman visits Topkapi Palace and tells us: “The inscrutable residence for generation of sultans was a paradise of blood-red rose beds [such gentle alliterations] and carpets of pansies, monastic cedars throwing cedars throwing shadows across the lawns. It filled the senses like distilled nostalgia.” Mexico in the hands of Ed Grenby from startles. In an essay that is unashamedly sensational, the author starts the report with: “And this is where the child would be beheaded, his lifeblood cascading down the steps of the pyramid in front of you.” That page shares a space with the photos of a succulent huevos rancheros with avocado and tortilla and skull sculptures at the steps of a Mayan ruins. But any tourism official would not refuse this description and any traveler cannot but be seduced (or repulsed) by the quick ethnography. Laura Goodman, heading off to Spain’s La Rioja region, writes of the young wines or wines that must be bottled and drank quickly in that place: “They’re mostly drunk locally

and rarely exported, so they feel like a thrilling [and cheap] secret.” Has our country been featured in Sunday Times Travel Magazine? Where would our allure reside in? What magical places are there for the world to gape at and surrender to? Many years ago, my brother invited me to visit him in Ormoc. Years before that, a massive landslide from deforested mountains came cascading like the wrath of a cruel god and covered people and homes alive. During the time of my visit, stories about the disaster had become, well, memories. We stayed in this huge house that doubled as a hotel. We had a room that, when you open the French windows, looked down right onto the pool. It was the first time for me to see an infinity pool in the country. My brother asked me to walk to the edge of the pool and try hard to look to my left and right. I did and through the tall walls flanking the hotel were sights of poverty. Outside our perfect hotel was the poorest neighborhood, the dregs and the soot on the homes the color of the most passionate of chiaroscuro, the sea fronting the slum wearing the shade of the quietest, choleric green of refuse, trash and junks, and the truth about diseases and suffering suffused with the cerulean blueness of the infinite sky. Or, maybe I am celebrating the surplus of adjectives in my writing life.

E-mail: titovaliente@yahoo.com

GDP growth, infrastructure woes and airports

managers blamed the delay in the budget approval for the slower growth since the first quarter. In addition, in the second quarter, there was a ban on new government projects due to the election season. Moving forward, what’s next in store for the administration’s “Build, Build, Build” campaign? Clearly, if the government wants to meet its economic targets for the rest of the year and beyond, construction will have to get back on track. As noted at the start of this article, congestion remains a serious problem. Fortunately, in the case of airport operations, several proposals have been put forward to resolve congestion concerns at the Naia, whose expansion capability

is generally limited especially in the long-term because of the lack of space to build new runways. One proposal is to use the Danilo Atienza Air Base in Sangley Point, Cavite as the site for an airport, particularly for turboprops and some domestic flights by the end of this year. Once completed, it will both assist in decongesting Naia and may help in pursuing growth especially in that area of the province. Another ongoing project is the expansion of Clark International Airport, which is targeting to open an additional terminal by next year. Its long-term expansion also involves linking it further with the nearby Clark Freeport Zone. Once completed, the airport could serve as the primary option for travelers coming in and from Northern Luzon provinces and even for Metro Manila travelers. Meanwhile, San Miguel Corp. is poised to start construction on its proposed New Manila International Airport in Barangay Taliptip, Bulacan after no challengers came forward in the recently concluded Swiss challenge conducted by the Department of Transportation. SMC recently revealed its proposed artistic renditions for the said project, which, as proposed, will be built at zero cost to the government. Once completed, the airport is expected to handle a capacity far greater than that of Naia. Any airport project such as these three can be expected to jumpstart economic growth because the areas involved can take advantage of

the economics of agglomeration. Airports are one of the vital infrastructures that link people, goods and services from place to place. It follows that other investors will find it convenient to locate close to these airports. New city centers may then emerge. In fact, in the case of Clark, Clark Freeport Zone has its own ongoing projects as well. More important, these airports can help decongest both Naia and Metro Manila in general, because some travels of people, and even of goods and services, will be diverted away from Metro Manila. Of course, inclusive and sustainable development requires that these projects be pursued with the best environmental and social practices as well. That’s why, for example, proposed flood control projects related with the New Manila International Airport and even in Sangley are important, as well to address possible and related flooding issues in those areas. In addition, if there are groups of people that may be displaced b2 these projects, the government will need to find an alternative place for them to minimize the related social costs. Overall, the Philippines remains one of the fastest growing economies in the region. For it to sustain and even exceed its performance, however, infrastructure developments need to be on track along with inclusive growth.

representatives from countries across the region are meeting in Bangkok this week at the United Nations Economic and Social Commission for Asia and the Pacific to explore regional responses to natural disasters. Their focus will include strengthening Asia-Pacific’s Disaster Resilience

Network and capitalizing on innovative technology applications for the benefit of the broader region. This is our opportunity to replicate successes, accelerate drought mitigation strategies and develop a regional sand and dust storm alert system. I hope the region can seize it to protect

vulnerable communities from disaster risk in every corner of Asia and the Pacific.

Dino Carlo A. Saplala

EAGLE WATCH

NFRASTRUCTURE investments in the Philippines have been long overdue since past administrations. This is highlighted further by at least two recent developments. First, the second quarter 2019 gross domestic product (GDP) data recently released by the Philippine Statistics Authority shows that although the Philippine economy is still growing, it grew at a rate of 5.5 percent, which was the slowest year-on-year rate since the first quarter of 2015. Second, congestion remains an unresolved issue in Metro Manila as seen in the debate surrounding the Metropolitan Manila Development Authority’s proposed ban on provincial buses and in the current operations of airports, particularly the Ninoy Aquino International Airport (Naia). Looking at the full details of the expenditures data, it appears that the primary cause of the slowdown in economic growth was an 8.5-percent contraction in capital formation (investments). In terms of durable equipment, capital formation contracted by as much as 13 percent relative to last year. In the production side, the industry sector contributed greatly to the slowdown after growing only by 3.7 percent compared to last year’s industry growth of 6.5 percent in the same quarter. In fact, the construction industry declined by 0.6 percent. Although, private construction grew by 23.1 percent, this was offset by public construction, which declined by 27.2 percent. It can be noted that economic

Disaster. . .

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this best practice and multilateral cooperation is the way to give scale to our region’s disaster resilience effort. With this ambition in mind,

Dino Carlo A. Saplala is a lecturer of economics at the Ateneo de Manila University. Source of cited GDP data: PSA

Ms. Armida Salsiah Alisjahbana is undersecretary-general of the United Nations and executive secretary of the United Nations Economic and Social Commission for Asia and the Pacific.

AUGUST 30, 2019

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Cebu BRT project on track–DOTr exec Govt creates committee to review GCTA By Joel R. San Juan

@jrsanjuan1573

HE computation of the expanded good conduct time allowance, or GCTA of inmates, was officially suspended starting Thursday after the Department of Justice (DOJ) and the Department of the Interior and Local Government (DILG) signed a joint department order creating a joint committee to review the guidelines for its implementation. “In the meantime, and pending conclusion of the work of the joint committee, the processing and computation of the credits and allowances provided under Republic Act [R A] 10592 are hereby temporarily suspended,” the joint order signed by Justice Secretary Menardo Guevarra and Interior Secretary Eduardo Año read. 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. As a consequence, all prisoners who are already serving their sentence or undergoing preventive imprisonment may qualify for the reduction of their sentence even before October 10, 2013, pursuant to the time allowances under RA 10592. 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 time allowance for study, teaching or mentoring service, and expanded the special time allowance for loyalty even during preventive suspension. RA 10592 should also be applied retroactively. The implementation of the new ruling by the Bureau of Corrections (BuCor), however, drew public outrage after it was learned that former Calauan, Laguna, Mayor Antonio Sanchez stands to benefit from it which may result to his release from the New Bilibid Prison. Sanchez was convicted for the 1993 gruesome rape-slay of Mary Eileen Sarmenta and the killing of her boyfriend Allan Gomez, who were both students of the University of the Philippines in Los Baños. This prompted the DOJ to suspend the implementation of the expanded GCTA until a review of its implementing rules and regulations (IRR). “We shall endeavor to finish the task in 10 working days after constitution of the committee,” Guevarra said when asked how long the review would take. The joint committee is mandated to submit its report and draft revised IRR, uniform policy and guidelines on the computation of credits and allowances under RA 10592 to the DOJ and DILG within 10 working days. The joint committee would be chaired by a DOJ undersecretary and cochaired by an undersecretary from the DILG. Its members would be comprised of the BuCor director general, DOJ assistant secretary, DILG assistant secretary, Bureau of Jail Management and Penology director, a Parole and Probation Administration representative, a DOJ technical staff representative, and a DOJ Planning and Management Service representative. The chairman and cochairman may assign their alternate representative to the joint committee.

By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Transportation (DOTr) announced on Thursday that the Cebu Bus Rapid Transit (BRT) is on track for its first phase of implementation in end-2021. Currently, the project is now on its final design and implementation stages, both of which are meant ensure the “reliability of service, better connectivity, and enhanced ease of movement” in Cebu. The transportation agency tapped Egis International to review the technical feasibility and sounds of the design for the Cebu BRT. Transportation Undersecretary for Road Transport Mark de Leon said the design plan for the Cebu BRT is an “improved version of the initial project design” approved in 2014 by the National Economic and Development Authority (Neda). The improvements made, he added, are still within the said approved conceptual plan, and with foremost consideration for the improved mobility and connectivity of the people of Cebu. “No changes were made on the alignment of the Cebu BRT. It was, in no way, shortened. In fact, to this day, the plan calls for a route of 23 kilometers. Simply put, design considerations are not confined to present demands, but factors in future infrastructure development,

expansions and extensions,” he explained. T he project, however, was divided into three phases. “The rationale for this segmentation is in line with the policy of partial operability instituted by Secretary Arthur P. Tugade, which aims to carry out infrastructure projects in phases to allow for faster implementation and, therefore, immediately bring a considerable degree of operable service and benefit to the public without them having to wait for the full completion of the project which, in the case of the Cebu BRT, extends beyond the Duterte administration,” de Leon added. The first phase, which runs from Cebu South Bus Terminal to the Capitol via Osmeña Boulevard, is expected to be up and running by December 2021. Phases 2 and 3 will extend the dedicated BRT lanes to Bulacao and SRP in the south, and Talamban in the north. The three-year gap was allocated for the acquisition of right of way. The whole facility will be opened in 2025.

AN artist’s illustration of the Cebu Bus Rapid Transit.

No changes were made on the alignment of the Cebu BRT. It was, in no way, shortened. In fact, to this day, the plan calls for a route of 23 kilometers. Simply put, design considerations are not confined to present demands, but factors in future infrastructure development, expansions and extensions.”—de Leon

DOT readies tourist sites for Southeast Asian Games in Nov By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Department of Tourism (DOT), with the help of the private sector, is readying several tourist sites in Northern Luzon in line with the Philippines’s hosting of the Southeast Asian (SEA) Games in December. Tourism Secretary Bernadette Romulo Puyat said in Filipino, “we are talking with the Tourism Congress of the Philippines so we can bring the tourists arriving in Clark to several sites. They can go to Nayong Pilipino, Bataan, Mount Samat, among others.” She added, the DOT is also “training trainors” to prepare the 9,000 volunteers who will help out during the SEA Games, which will be held at the New Clark City sports hub in Tarlac, from November 30 to December 11. “We are fixing the airport courtesies, for instance. There are a number of visitors coming, and a lot of them will stay after the games,” Romulo Puyat said, although they have no estimate of the total number of visitor arrivals during the period. “We just know that many of the athletes

TOURISM Secretary Bernadette Romulo Puyat tries one of the 30 Grab scooters to be deployed in Intramuros.

will also be bringing their families,” she said. The DOT chief was in Intramuros on Wednesday afternoon for the launch of “GrabWheels,” a twowheel, personal mobility device (PMD) that tourists can use when going around the Walled City. The public can use the scooters within Intramuros, free-of-charge for a period of three months. After signing the memorandum of understanding with Grab President Brian Cu for the project, Romulo Puyat said, “This is in keeping with the efforts of the DOT to inculcate a culture of sustainable tourism. This is what we envision to do to some, and ideally, to all of our destinations. We want visitors to have access to an eco-friendly but fun mode of transportation.” She added, “Sustainability demands that our planning and resources management must be responsible. Conversely, it should also maintain a high level of satisfaction and ensure meaningful experience of our tourists. This partnership, hopefully, will raise their awareness about environmental issues and allow them to experience firsthand these sustainable tourism practices.”

Lawyer Guiller Asido, administrator of the Intramuros Administration noted these PMDs will provide less carbon footprint, and likewise, significantly reduce traffic congestion, a major problem in the area. “This is just a pilot test. After a month, we will review its reception and determine the necessary mechanisms and setting of fees to make it sustainable,” he said. About 30 scooters will be deployed in Intramuros for the project. Grab likewise committed to promote Philippine tourism by disseminating materials produced and developed by the DOT and its attached agencies, through its massive fleet of cars and taxis. “The good thing about our government,” said Romulo Puyat, “is that a lot of private-sector firms are now helping. She noted, aside from Grab, other private firms, which have partnerships or projects with the DOT are Jollibee, Globe, SM Group, Ayala Malls, Philippine Airlines and Cebu Pacific. “They are all partnering with DOT to promote tourism,” she underscored. During Holy Week, she said, over a million tourists visited Intramuros.

Goodbye, loan sharks: Agencies, LGUs join new GSIS loan scheme

TATE pension fund Government Service Insurance System has started its caravan nationwide for the expanded GSIS Financial Assistance Loan program or GFAL 2 for non-DepEd agencies and local government units (LGUs). This was announced by Chairman and Officer in Charge Rolando Ledesma Macasaet following the signing of agreement between GSIS and the City Government of San Juan on Tuesday to implement GFAL for about 1,000 members in San Juan. “Since the launch of GFAL 2 last July 29, a total of 50 agencies and local government units have signed up agreements with the pension fund to enable their employees to enjoy its benefits of lower interest rate of 6 percent per annum and

longer repayment period of six years,” Macasaet said. In the coming months, the pension fund is set to ink pacts with about a hundred remitting partner agencies and LGUs across the country for the GFAL offering. “The GFAL program is GSIS’s response to the call of President Rodrigo Duterte to help free government employees from the clutches of lending institutions who practice schemes such as ‘5-6,’ which are often tied with hefty double-digit interest rates,” Macasaet added. GFAL is the balance-transfer and debt-consolidation facility of GSIS that aims to help active GSIS members settle their outstanding loan obligations with lending institutions. Originally offered to teaching and nonteaching personnel of the De-

partment of Education, the program has been extended to the rest of GSIS members effective July 27, 2019. The expanded GFAL program, named GFAL 2, seeks to ease the burden of other government personnel and help enhance the pension fund’s collection efficiency. Under GFAL 2, borrowers may transfer their loan balances to GSIS from lending institutions. “A maximum loan amount of P500,000, with an interest rate of only 6 percent per annum, is certainly advantageous to our members. This will ultimately result in higher net take-home pay and protect their future retirement benefit,” Macasaet explained. This year, GFAL’s features were further improved by introducing a Top-Up option, which will enable

borrowers to maximize the loanable amount of P500,000. GFAL borrowers whose outstanding loans with lending institutions do not exceed P500,000 may apply for the remaining available credit as Top-Up Loan. Unlike the GFAL proceeds, which GSIS pays directly to lending institutions, the Top-Up Loan proceeds will be released to the member. To qualify for GFAL, applicants must be permanent government employees with outstanding loan from lending institutions, government banks, or cooperatives accredited or recognized by their agency; have at least three years of periods with paid premiums; and have no due and demandable loan account with GSIS.

In addition, they should not be on leave without pay at the time of application; have a net take-home pay of not lower than P5,000 after deduction of monthly obligations; and have no pending administrative case or criminal charge. Further, all GSIS offices are open every Saturday for GFAL transactions, including the conduct of a financial literacy seminar, which is a requirement prior to loan processing. Interested parties may visit the GSIS web site (www.gsis.gov.ph) or Facebook account (@gsis.ph); e-mail gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 8474747, 1-800-8-847-4747 (for Globe and TM subscribers), or 1-800-10847-4747 (for Smart, Sun and Talk ‘n Text subscribers).

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PSE launches buyback, creates preferred shares for brokers By VG Cabuag

@villygc

HE Philippine Stock Exchange (PSE) Inc., the operator of the country’s equity market, has again moved to bring down the ownership of the brokers to 20 percent by launching a program to buy back shares that they still hold, while creating preferred shares to be offered solely to them. In its disclosure, the PSE said it will repurchase some P532.01 million worth of common shares that it will conduct through end of September. The PSE will use cash to buy back the shares but will book these as treasury shares. It will then create 3.5 million preferred shares, which are nonvoting and nonconvertible. The PSE can also redeem the said shares beginning on its third year. “The nonvoting preferred shares shall

only be issued to brokers. The terms and conditions of issuance and nonvoting preferred shares to brokers, including the dividend rate thereof shall be fixed by the board of directors,” the PSE said. The PSE, however, needs the approval of its shareholders before it can proceed with the creation of the preferred shares. It will also need to amend its articles of incorporation to reflect such change. As of early this year, the brokers still own 26.44 percent of the exchange, or still above the mandatory 20-percent cap of ownership of a particular sector. The PSE said earlier it is in “earnest efforts to comply with the 20-percent industry limit providedbytheSecuritiesRegulationsCode.” In March last year, the PSE was able to bring down the brokers’ ownership to about 21.71 percent, shortly after listing its 11.5 million shares in stock rights offer to existing shareholders, a measure intended to pull

down brokers’ ownership to the minimum requirement. It, however, was not able to count many of the shares still being held by brokers’ principal shareholders and related parties in omnibus client accounts. The PSE raised P2.98 billion from the measure, proceeds of which was supposed to be used for the acquisition of PDS, or the Philippine Dealing System, among others. To date, the PSE still has not bought the PDS, which owns the Philippine Dealing and Exchange Corp., the operator of the fixed income trading platform. “The Exchange configured its trading system to automatically prevent the posting of a buy order for PSE shares from accounts that will push it over the 20-percent threshold, or if it is still below 20 percent, but the matching of the buy order will cause broker industry ownership to breach the 20 percent level,” Ramon Monzon, PSE president, said earlier.

PSE approves IPO of AllHome and Axelum Resources

HE Philippine Stock Exchange Inc. on Wednesday has approved the initial public offering of Villar-led home improvement retailer AllHome Corp. and coconut product manufacturer Axelum Resources Corp., both of which will list its shares on October. AllHome will raise as much as P11.46 billion and will be listed under the stock symbol HOME. Axelum, meanwhile, will raise some P4.76 billion and have a stock symbol AXLM.

AllHome will offer 750 million new common shares along with 375 million existing common shares at a maximum price of P16 per shares. Some of these shares were currently held by AllValue Holdings Corp., which has the option to offer 168.75 million more. The offer shares represent 34.5 percent of the company’s issued and outstanding capital stock, which will comprise a total of 3.75 billion shares after the maiden offering and assuming full exercise of the overallotment option.

AllHome has tapped UBS AG Singapore Branch as sole global coordinator and joint bookrunner, CLSA Ltd. and Credit Suisse (Singapore) Ltd. as joint bookrunners, and PNB Capital and Investment Corp. and China Bank Capital Corp. as domestic underwriters. Axelum, meanwhile, will offer 400 million in treasury shares and 300 million in new common shares along with 430 million existing common shares offered by CP Compass Singapore Pte. Ltd. Its maximum offer price is placed at P6.81 per share. VG Cabuag

‘ADOPTED CITY’ Alliance Global Group Inc., the holding company of tycoon Dr. Andrew L. Tan, has chosen Iloilo City

as its “adopted city” in the National Resilience Council’s (NRC) Adopt-A-City program for climate and disaster resiliency. AGI, through its real-estate company Megaworld, has a huge stake in Iloilo City as it develops the 72-hectare Iloilo Business Park in Mandurriao district. Leading the signing of the memorandum of understanding (MOU) were (from left) Ambassador Roberto R. Romulo, NRC Convenor; Jerry Treñas, Iloilo City mayor; Kevin Andrew Tan, CEO of AGI and chief strategy officer of Megaworld; and Ma. Antonia Yulo.

AirAsia’s Q2 profits grow 8-fold to ₧593M

ROFITS of budget carrier operator Philippines AirAsia Inc. ballooned eightfold to P593 million in the second quarter of 2019 from P68 million, as it carried more passengers during the period. Based on a regulatory filing in Malaysia, the local subsidiary of AirAsia Bhd. posted a 38-percent rise in revenues to P7.51 billion, from P5.46 billion, as its passenger volume increased by 22 percent to 2.23 million passengers. It also increased its seat capacity in the second quarter by 18 percent to 2.46 million seats, from 2.09 million seats the year prior, ending June with 23 jets. Load factor for the period rose by 4 points to 91 percent.

“For AirAsia Philippines, profit after taxation in the second quarter increased more than eightfold following a 4-point increase in load factor to 91 percent, a 22-percent increase in passengers carried and a 5-percent increase in RASK [revenue per available seat kilometer]. With our performance so far this year, we are positive on our target for all our Asean AOCs [airline operator’s certificate] to be profitable this year,” AirAsia Group Berhad President Bo Lingam said in a statement. Currently, AirAsia Philippines operates a fleet of 24 aircraft on more than 500 weekly domestic and international flights from its hubs in Manila, Clark, Cebu and Kalibo. Lorenz S. Marasigan

Companies BusinessMirror

Friday, August 30, 2019

PSE STOCK QUOTATIONS

August 29, 2019

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

54.7 145 86.85 26 11.62 70.55 45.5 57.75 27 191.3 60 1.11 2 18.32 4.77 1.24 0.45 710.5 0.92 186.3

56 147 87.5 26.2 11.64 70.7 45.9 57.85 27.7 195.4 60.05 1.15 2.12 18.4 4.78 1.34 0.46 750 0.93 187

57 145 86.9 26.25 11.54 71.8 45.65 57.85 27.6 192.1 59.1 1.15 2 18.6 4.82 1.3 0.45 750 0.95 187

57 147 87.5 26.25 11.7 71.8 45.7 57.85 27.6 195.4 60.7 1.15 2.14 18.6 4.89 1.34 0.465 750 0.95 187

54.6 142.5 86.8 25.95 11.54 70.55 45.05 57.85 27 189 59.1 1.15 2 18.6 4.77 1.3 0.45 750 0.93 187

56 147 87.5 26.2 11.62 70.55 45.5 57.85 27 195.4 60.05 1.15 2.12 18.6 4.77 1.34 0.45 750 0.93 187

1520 1836560 2391370 16800 113300 2756090 63600 293110 21500 1226160 19550 59000 3131000 500 284000 61000 360000 20 29000 1020

83545.5 266482480 208657961 440605 1313694 195496109.5 2889485 16956413.5 583890 235265368 1176635 67850 6263360 9300 1361760 81290 163650 15000 27070 190740

INDUSTRIAL

-1096 14173094 28462086.5 -217800 -541094 5802378.5 -825960 -29745 3348771 -311900.5 -6220000 -152639.9997 -

ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE 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 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 CHEMPHIL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

1.3 37.55 0.249 25.85 82.95 362 22.1 5.17 2.78 10.96 32.3 7.15 16.1 15.3 14.08 5.45 8.94 7.25 90.7 0.71 50 232.4 8.5 13.52 0.188 1.78 12.32 1.6 5.1 0.125 171.5 1.16 2.43 73.3 79.3 2.97 5.41 14.96 9.65 14.6 18.78 8.58 1.03 1.25 110 2.02 4.88 3.3 5.06 33 1.99 8 1.55 1.09 10.6

1.31 37.85 0.255 26 83 369.8 22.25 5.19 2.79 11.2 32.35 7.2 16.96 15.32 14.34 5.7 8.96 7.26 90.9 0.72 50.9 233.6 8.7 13.62 0.203 1.79 12.48 1.66 5.12 0.127 172 1.17 2.45 77.1 80 2.98 5.8 15 9.8 14.74 18.8 9.2 1.06 1.27 120 2.05 5.09 3.41 5.1 33.5 2 8.01 1.6 1.1 10.7

1.3 36.6 0.244 26.15 83.25 362 22.35 5.18 2.69 11 33.6 7.08 16.1 15.02 14.02 5.41 8.95 7.26 93.5 0.71 48.95 228.2 8.41 13.5 0.203 1.74 12.26 1.6 5.1 0.127 172 1.12 2.45 77.9 85 2.95 5.8 15.16 9.45 14.72 18.5 9.2 1.07 1.28 109.9 2.02 5.15 3.41 5.3 34.7 1.97 8.06 1.48 1.11 10.7

1.3 37.85 0.265 26.6 84.4 369.8 22.5 5.2 2.81 11.2 33.75 7.24 16.1 15.3 14.08 5.7 9.09 7.3 93.55 0.76 52.5 233.6 8.79 13.64 0.203 1.81 12.48 1.6 5.1 0.127 172 1.24 2.45 77.9 85 3.03 5.8 15.16 9.8 14.76 18.8 9.2 1.08 1.29 110 2.04 5.15 3.41 5.4 34.7 2 8.07 1.63 1.11 10.7

1.3 36 0.244 26 82.9 360 22.1 5.13 2.69 10.94 32.35 7.08 16.1 14.98 14.02 5.41 8.91 7.24 90.5 0.71 48.95 226.6 8.2 13.5 0.203 1.74 12.26 1.57 5.1 0.125 171 1.12 2.45 72.6 80 2.94 5.7 14.88 9.45 14.48 18.5 9 1.02 1.23 109.9 2.02 4.89 3.39 5.06 33.5 1.93 8.01 1.47 1.08 10.5

1.3 37.85 0.255 26 83 369.8 22.1 5.19 2.78 11.2 32.35 7.16 16.1 15.3 14.08 5.7 8.94 7.26 90.9 0.72 50.9 233.6 8.7 13.62 0.203 1.78 12.34 1.6 5.1 0.125 172 1.17 2.45 74 80 2.98 5.8 14.96 9.8 14.6 18.8 9.2 1.06 1.25 110 2.04 4.89 3.41 5.1 33.5 2 8.01 1.6 1.1 10.7

25000 4156900 16420000 2273100 41390 180450 104500 392600 20530000 59100 1607100 38100 200 549400 465000 9600 437600 1927600 726420 4357000 79800 532340 5300 13700 20000 6903000 164700 148000 1300 170000 1664760 10907000 28000 1040 9010 5396000 8400 257000 1037400 420400 1585300 507800 1203000 6655000 90 60000 36500 5000 254000 13300 5418000 151600 296000 107000 187100

32500 155923400 4229300 59297250 3436073.5 66029878 2318440 2027852 56965730 659674 52458760 274233 3220 8298422 6519950 52178 3912694 14005876 66295616 3204540 4073735 123420990 44555 185700 4060 12259200 2032226 235110 6630 21290 286107196 12785610 68600 76465 724191 16133490 48030 3835788 9976313 6175084 29646474 4670727 1254110 8352570 9899 121600 182235 16990 1312220 448285 10711330 1217664 456470 117400 1988468

50822615 -19618405 -1915985.5 22270336 -1347205 -540470 -1793960 5500 -48338385 1756564 71840 -1489574 -10033896 -37491184 24410 34563174 -1364 4060 -78100 -24742 -10932316 -3413630 68600 -188580 2339814 5727940.9998 -3287580 28470370 -4600000 10200 91990 10170 15918 -411370 98910 -302778 -

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 JOLLIVILLE HLDG 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 SEAFRONT RES WELLEX INDUS ZEUS HLDG

0.85 14.02 933 51.9 12.98 3.46 7 0.89 1.3 1.31 6.76 8.95 13.6 0.223 877.5 5.96 69.95 5.31 5.06 0.48 4.6 14.16 0.65 4.83 0.039 1.38 1.32 1015 173 0.87 2.41 0.23 0.265

0.86 14.04 935 52 13.08 3.47 7.08 0.9 1.31 1.33 6.78 9.1 13.7 0.24 890 6.27 70.5 6.1 5.39 0.5 4.62 14.2 0.66 4.85 0.04 1.39 1.34 1020 175.5 0.88 2.74 0.236 0.27

0.82 13.58 940 51.7 12.78 3.5 7 1.17 1.32 1.31 6.81 8.94 13.74 0.24 868 6.28 68.85 6.19 5.06 0.495 4.64 13.76 0.65 4.85 0.04 1.35 1.31 1008 175 0.99 2.48 0.235 0.26

0.87 14.16 942 52.3 13.16 3.54 7 1.27 1.33 1.35 6.85 9.1 13.76 0.24 890 6.28 70.5 6.2 5.06 0.51 4.64 14.3 0.66 4.87 0.043 1.44 1.33 1025 175.5 1 2.5 0.235 0.275

0.81 13.5 929 50.45 12.78 3.43 7 0.86 1.28 1.31 6.75 8.85 13.5 0.24 865 6.28 67.9 6.15 5.06 0.48 4.6 13.76 0.61 4.77 0.039 1.33 1.3 990 172.1 0.87 2.48 0.23 0.249

0.85 14.02 935 52 12.98 3.47 7 0.9 1.3 1.33 6.78 9.1 13.74 0.24 890 6.28 70.5 6.15 5.06 0.51 4.61 14.2 0.66 4.83 0.04 1.39 1.32 1020 175.5 0.87 2.5 0.235 0.265

34252000 26200 268530 2750980 5030300 1045000 34300 146338000 3946000 455000 476500 5478400 5300 10000 169010 100 2847500 4500 10000 490000 131000 1991500 1527000 25579000 105700000 635000 35000 248585 56700 8394000 6000 640000 12040000

28776120 365516 250898900 141429329.5 65118706 3626550 240100 156974910 5115460 596780 3232114 49524976 71700 2400 148635160 628 198945233.5 27854 50600 247100 604850 28248916 965120 123402750 4309300 873460 46150 252308442.5 9911430 7692240 14920 149450 3182670

5193210 69900 -65348315 -73736347 -3253964 169680 -99660 -0 -465374 -25522034 -4128 -12401960 -628 63409352.5 -161440 7408600 -71494760 344400 -2408807.5 -3463676 18400 -365600

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 0.87 0.88 0.85 0.9 0.85 0.88 2332000 2060000 -151300 ANCHOR LAND 9.71 10.58 9.71 10.78 9.7 9.71 4800 46816 AYALA LAND 47.7 48 48 48 47.4 47.7 12162700 579186240 -74706475 ARANETA PROP 1.88 1.9 1.88 1.88 1.86 1.88 294000 552700 BELLE CORP 2.17 2.18 2.16 2.19 2.16 2.18 273000 592470 -36970 A BROWN 0.79 0.8 0.8 0.8 0.79 0.79 617000 493510 CITYLAND DEVT 0.84 0.87 0.84 0.84 0.84 0.84 10000 8400 CROWN EQUITIES 0.235 0.236 0.234 0.237 0.234 0.235 1480000 347510 CEBU HLDG 5.85 6.16 5.82 6.16 5.82 6.16 230200 1339832 CEB LANDMASTERS 4.68 4.72 4.7 4.72 4.65 4.65 369000 1732800 CENTURY PROP 0.55 0.56 0.55 0.56 0.55 0.56 2167000 1194620 5600 CYBER BAY 0.4 0.41 0.4 0.4 0.4 0.4 790000 316000 DOUBLEDRAGON 21.9 22 22.5 22.55 21.9 22 2309400 50935865 8898020 DM WENCESLAO 9.37 9.4 9.37 9.4 9.3 9.4 163600 1533588 196180.9997 EMPIRE EAST 0.455 0.465 0.45 0.465 0.45 0.465 540000 248050 -216200 EVER GOTESCO 0.122 0.134 0.121 0.121 0.121 0.121 30000 3630 FILINVEST LAND 1.59 1.6 1.62 1.64 1.59 1.59 9788000 15727580 -1303420 GLOBAL ESTATE 1.22 1.25 1.21 1.25 1.21 1.25 681000 833840 8990 HLDG 15.34 15.4 15.34 15.46 15.34 15.4 672100 10332750 -652576 PHIL INFRADEV 1.41 1.42 1.35 1.45 1.35 1.42 5247000 7358190 54080 CITY AND LAND 0.73 0.75 0.76 0.76 0.75 0.75 8000 6030 MEGAWORLD 5.01 5.02 5.06 5.09 5.01 5.01 36408800 183524598 -13383998 MRC ALLIED 0.315 0.32 0.31 0.32 0.305 0.315 12210000 3838300 6400 PHIL ESTATES 0.44 0.47 0.45 0.45 0.45 0.45 10000 4500 PRIMEX CORP 2.02 2.03 2 2.04 2 2.03 235000 476950 ROBINSONS LAND 25.1 25.2 25.2 25.2 24.8 25.1 3957200 98950160 -17818440 PHIL REALTY 0.39 0.405 0.385 0.405 0.385 0.4 880000 350500 ROCKWELL 2.33 2.36 2.3 2.37 2.3 2.36 261000 607390 SHANG PROP 3.28 3.29 3.25 3.3 3.1 3.28 208000 666890 16450 STA LUCIA LAND 2.39 2.44 2.4 2.42 2.39 2.39 408000 976060 148180 SM PRIME HLDG 35 35.25 35.2 35.5 35 35 9039700 318295400 -77251685 STARMALLS 5.61 5.75 5.8 5.85 5.6 5.75 192100 1092033 SUNTRUST HOME 0.91 0.94 0.96 0.98 0.89 0.94 2431000 2271130 VISTA LAND 7.34 7.39 7.39 7.39 7.3 7.39 6251200 46022935 -4402758 SERVICES ABS CBN 19.7 19.8 19 19.82 19 19.8 181500 3570856 GMA NETWORK 5.32 5.36 5.3 5.36 5.3 5.36 142200 759461 MANILA BULLETIN 0.46 0.48 0.47 0.5 0.46 0.46 840000 403200 MLA BRDCASTING 9.03 15.16 15.16 15.16 15.16 15.16 100 1516 GLOBE TELECOM 1904 1924 1900 1924 1890 1924 36325 69564375 39940705 PLDT 1118 1125 1120 1130 1111 1125 174690 195277510 -134249790 APOLLO GLOBAL 0.046 0.047 0.046 0.047 0.046 0.046 6100000 280700 IMPERIAL 1.85 2.06 2.03 2.07 2 2.07 55000 112000 ISLAND INFO 0.114 0.115 0.113 0.138 0.109 0.115 165140000 20636890 -262460 ISM COMM 4.93 4.98 4.96 5.09 4.86 4.93 1782000 8864820 583660 JACKSTONES 2.95 3.09 2.86 3.09 2.86 3.09 8000 23220 NOW CORP 3.37 3.38 3.5 3.79 3.25 3.38 30870000 108138470 962020 TRANSPACIFIC BR 0.365 0.37 0.37 0.385 0.36 0.37 12500000 4633950 PHILWEB 3.08 3.1 3.18 3.26 3.05 3.1 1979000 6304850 -348580 2GO GROUP 10.04 10.24 10.26 10.26 10.04 10.04 3700 37418 ASIAN TERMINALS 18.5 19.84 18.52 18.52 18.5 18.5 9000 166620 166620 CHELSEA 7.01 7.06 7.17 7.17 7 7.01 591700 4163138 14028 CEBU AIR 95.4 95.5 95.1 95.95 95 95.5 64170 6114014 -658155.5 INTL CONTAINER 129.6 130 131 131 128.3 130 3071800 398170347 59730675 LBC EXPRESS 13.5 14.46 14 14 14 14 1200 16800 LORENZO SHIPPNG 0.95 0.96 0.97 0.97 0.93 0.94 610000 576200 MACROASIA 18.26 18.3 18.3 18.46 18.22 18.3 90300 1653674 574802 METROALLIANCE A 1.16 1.3 1.24 1.24 1.15 1.15 253000 300280 METROALLIANCE B 1.28 1.29 1.28 1.28 1.28 1.28 30000 38400 PAL HLDG 8.08 8.1 8.1 8.1 8.05 8.08 10200 82388 HARBOR STAR 1.65 1.67 1.57 1.68 1.55 1.65 3823000 6200930 -99900 ACESITE HOTEL 1.47 1.55 1.51 1.55 1.49 1.55 5000 7550 BOULEVARD HLDG 0.056 0.057 0.058 0.058 0.056 0.057 16880000 963250 WATERFRONT 0.69 0.7 0.69 0.72 0.68 0.7 853000 597290 CENTRO ESCOLAR 6.56 6.99 6.99 6.99 6.99 6.99 900 6291 STI HLDG 0.69 0.7 0.69 0.7 0.69 0.69 174000 120130 BERJAYA 2.32 2.37 2.3 2.36 2.3 2.32 180000 419680 BLOOMBERRY 10 10.08 9.95 10.1 9.95 10 4557300 45,603,973( 26,203,158.9996) PACIFIC ONLINE 2.67 2.68 2.7 2.7 2.67 2.69 218000 585970 -53400 LEISURE AND RES 3.14 3.17 3.11 3.2 3.11 3.14 188000 594460 -3200 MANILA JOCKEY 3 3.07 3 3 3 3 32000 96000 PREMIUM LEISURE 0.67 0.68 0.69 0.69 0.68 0.68 1077000 735420 -323680 TRAVELLERS 5.45 5.46 5.46 5.46 5.45 5.46 4427400 24139420 -8208892 METRO RETAIL 2.38 2.39 2.35 2.39 2.35 2.39 867000 2057880 94700 PUREGOLD 43.75 44 44.3 44.9 43.75 43.75 316800 13902350 -10328410 ROBINSONS RTL 77.3 78.5 77.5 78.5 77.25 78.5 467780 36537199.5 4263348.5 SSI GROUP 2.69 2.7 2.73 2.79 2.69 2.7 1818000 4941780 -335790 WILCON DEPOT 16.82 16.88 16.76 16.9 16.74 16.88 1032600 17393128 13030464.0003 APC GROUP 0.58 0.59 0.57 0.6 0.56 0.58 6342000 3654380 EASYCALL 10.04 10.06 10.6 11.36 10.04 10.04 894200 9454120 103930 GOLDEN BRIA 417 432.8 425 433 415 432.8 7560 3209208 -1454732 PRMIERE HORIZON 0.63 0.64 0.51 0.65 0.5 0.63 204151000 123841150 2877570 SBS PHIL CORP 9.1 9.39 9.09 9.39 9.09 9.39 9700 90638 MINING & OIL ATOK 11.82 12.34 12 12.4 11.54 12.38 12000 142464 APEX MINING 1.32 1.34 1.29 1.34 1.29 1.34 29429000 38612230 ABRA MINING 0.0016 0.0018 0.0016 0.0018 0.0016 0.0018 4676000000 7950800 86700 COAL ASIA HLDG 0.27 0.28 0.28 0.28 0.28 0.28 80000 22400 CENTURY PEAK 2.69 2.7 2.7 2.7 2.7 2.7 635000 1714500 DIZON MINES 7.79 7.8 7.75 7.87 7.75 7.8 1200 9360 FERRONICKEL 1.44 1.45 1.43 1.46 1.43 1.45 1354000 1963280 -790030 GEOGRACE 0.229 0.23 0.205 0.3 0.204 0.229 166600000 43495290 -57050 LEPANTO A 0.11 0.114 0.111 0.118 0.109 0.111 9000000 1019070 LEPANTO B 0.116 0.119 0.11 0.12 0.11 0.119 220000 24910 MANILA MINING A 0.0093 0.0095 0.0093 0.0095 0.0093 0.0095 10000000 94000 MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 33200000 348600 MARCVENTURES 1.02 1.03 1.03 1.05 1.01 1.03 463000 476440 30900 NIHAO 1 1.03 1.03 1.1 1 1 507000 531490 -21800 NICKEL ASIA 2.58 2.61 2.53 2.66 2.53 2.61 8957000 23383730 4511200 OMICO CORP 0.48 0.49 0.48 0.48 0.48 0.48 30000 14400 ORNTL PENINSULA 0.82 0.85 0.82 0.92 0.82 0.83 3773000 3310500 6130 PX MINING 3.81 3.84 3.76 3.84 3.76 3.84 1335000 5085770 49410 SEMIRARA MINING 23 23.1 23 23.1 22.9 23 697700 16043660 1275475 UNITED PARAGON 0.0065 0.0068 0.0065 0.0084 0.0065 0.0065 476000000 3438700 -36300 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 3100000 37200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 38600000 463200 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 12700000 139800 PHINMA PETRO 7.86 8 9.1 9.33 7.58 8 5795600 48664090 -135311 PXP ENERGY 12.88 12.9 13.54 13.92 12.9 12.9 4517600 60752598 2313204 PREFFERED AC PREF B1 498 501 496.4 496.4 496.4 496.4 2100 1042440 AC PREF B2 500 504 503 504 500 500 60 30070 DD PREF 101 101.5 101 101 101 101 2000 202000 FGEN PREF G 105.1 107.5 105 105 105 105 200 21000 -21000 FPH PREF C 491 500 490 490 490 490 40 19600 GLO PREF P 500 505 505 505 505 505 40 20200 GTCAP PREF A 970 995 995 995 995 995 590 587050 GTCAP PREF B 970 980 990 990 970 970 21750 21290300 LR PREF 0.99 1 0.99 1 0.99 0.99 207000 206280 PNX PREF 3B 108 109.5 107 110 107 110 270 29190 PCOR PREF 2A 996 1020 996 996 996 996 300 298800 PCOR PREF 3A 1031 1040 1030 1030 1030 1030 1350 1390500 PCOR PREF 3B 1035 1040 1040 1040 1036 1036 550 571800 SMC PREF 2B 76.1 76.6 76.6 76.6 76.6 76.6 360 27576 SMC PREF 2C 78.5 78.95 78.95 79 78.7 79 2380 187788 SMC PREF 2D 75.05 75.95 75 75.5 75 75.05 20000 1501150 SMC PREF 2F 76.05 77 76 76 76 76 1500 114000 SMC PREF 2G 76.5 76.8 76.9 76.9 76.5 76.5 18200 1397584 SMC PREF 2H 75.55 77 75.65 75.7 75.5 75.5 10930 826328 SMC PREF 2I 76 76.5 76 76 76 76 27620 2099120 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.48 5.15

18.5 5.18

18.32 5.14

18.48 5.18

17.9 5.14

18.48 5.18

107500 100000

1979888 517996

WARRANTS LR WARRANT

1.58

SMALL & MEDIUM ENTERPRISES ITALPINAS 7.55 KEPWEALTH 12.56 XURPAS 0.94

1.6

1.55

1.65

1.55

1.6

86000

138010

7.64 12.6 0.95

7.85 14.5 0.92

7.85 15.58 0.96

7.53 12 0.9

7.64 12.56 0.94

955900 8386900 2573000

7295349 115937408 2422430

500249 -397910 -109480

EXHANGE TRADE FUNDS FIRST METRO ETF

117.7

1305820.0003 -

118.5

118.1

118.5

117.9

118.5

3100

365850

153400

www.businessmirror.com.ph

Bus ride, home-service salon: Grab rolls out new services

By Lorenz S. Marasigan

@lorenzmarasigan

UPER app Grab introduced on Thursday new features and innovations in its app, all aiming to provide more services to Filipinos to further cement its position as the “leading homegrown super app in the region.” The ser vices—Bus Marketplace, GrabExpress Nationwide Delivery, GrabSalon, Videos and Hotels—will be rolled out progressively throughout this quarter. All these new services were introduced through collaborations with three bus companies, Ninja Van, Toni&Guy, L’Oreal, Hooq and Agoda. “Our aim as the leading super app is to solve everyday problems so that Filipinos can do more. We are doing this by breaking daily limitations, such as limited transportation solutions, disconnected systems and services, and lack of financial inclusion,” Grab President Brian P. Cu said.

Transport services

GRAB is introducing provincial

point-to-point bus services from Olongapo-Clark, Clark-Dagupan, and services from Makati to Noveleta, Cavite, through its Bus Marketplace, which allows users to book tickets from bus companies in advance. It also introduced GrabExpress Nationwide Delivery through a partnership with Ninja Van, a techenabled logistics company that specializes in regular deliveries. Ninja Van Country Head Martin Cu noted that this partnership gives small and medium enterprises (SMEs) and social sellers an affordable and reliable means to extend their services to an even wider pool of customers. “Grab and Ninja Van’s shared vision is to be the game changers in the logistics segments. We are

Sta. Lucia hopes to raise ₧8B from follow-on offer

ROPERT Y developer Sta. Lucia Land Inc. on Thursday filed for a follow-on offering, hoping to raise as much as P8.11 billion. In its filing at the Securities and Exchange Commission (SEC), Sta. Lucia said it will sell up to 3 billion common shares at an offer price of between P2.80 and P2.26 per share. Sta. Lucia expects to raise between P8.4 billion and P6.1 billion in proceeds, to be used to partially finance its capital expenditures for new and some ongoing projects, strategic land banking and for general corporate purposes. China Bank Capital Corp. has been picked as underwriter and book runner for the deal. Of the said offer shares, 2.7 billion will be its primary offering and 300 million common shares will comprise its over-allotment option. The offer shares will comprise about 26.79 percent of its outstanding capital stock.

The company said it hopes to start the share sale on November 18 through November 29. Its shares will be listed at the Philippine Stock Exchange on December 9. “Aligned with the company’s growth objectives, SLI continues to pursue real-estate deals which can be developed into future residential and commercial projects. The company’s strategy for development is to focus on provincial areas that are largely ignored and underserved by its bigger competitors whose projects have, until recently, been concentrated in Metro Manila which is already congested and near saturation,” the company said in its registration statement. “In this light, having readily available funds provides the company with flexibility and faster turnaround time in negotiating for the acquisition of strategic locations. SLI will allocate P820 million from the proceeds of the offer for this purpose,” it said. VG Cabuag

ABS-CBN starts rollout of mobile digital product

BS-CBN Corp. has started the nationwide rollout of its latest mobile digital product, which turns an Android smartphone into a “handheld TV” without consuming mobile data. Dubbed ABS-CBN TVplus Go, an on-the-go version of a digital settop box for television, is a dongle that can be attached to an Android smartphone to stream ABS-CBN shows and channels. According to the company, the product primarily “targets Filipino commuters who have no time to catch their favorite ABS-CBN shows.” The dongle works in areas where digital TV signal is available, including Metro Manila, Rizal, Bulacan,

Nueva Ecija, Pampanga, Batangas, Tarlac, Pangasinan, Baguio City, Cavite, Laguna, Iloilo City, Bacolod City, Metro Cebu, Cagayan de Oro City and Davao City. Aside from the dongle, ABSCBN also offers iWant, a digital app that allows users to stream ABS-CBN content on their mobile phones. iWant has become the first Filipino streaming service to sign the Asean Subscription Video-on-Demand Industry Content Code, which “reinforces its commitment to keeping its content authentic, free from hate speech, hate crimes, pornography and other forms of inappropriate content.” Lorenz S. Marasigan

committed to creating solutions that will enable millions of SMEs to scale their businesses and afford Filipinos the ability to easily reach their loved ones across the Philippines,” he said.

Lifestyle services

ASIDE from transport features, Grab also introduced new lifestyle services. GrabSalon, a partnership between Grab and Toni&Guy and L’Oreal, is an on-demand salon service that brings professional hair dressers into the customers’ homes. It is also launching the Video tile in October with video streaming provider Hooq. Through the new service, Grab users can access over 8,000 hours of on-demand streaming of Hollywood blockbusters, local series and free-to-air content directly through the Grab app. Meanwhile, the Hotels tile, a collaboration with Agoda and Booking Holdings, is now fully integrated into the Grab app. This allows users to book hotel packages from over 28 million places to stay using the Grab app.

GrabPay integration

ASIDE from these services, Grab is also integrating GrabPay into the international offering of PLDT Global Corp. for overseas Filipino

MUTUAL FUNDS

workers (OFWs), an app called Free Bee. Free Bee allows users to make high-quality IDD calls, when users watch ads. When they decide to top up their accounts, they can enjoy the service ad-free. Under their partnership agreement, GrabPay will provide a payments scheme for OFWs in Malaysia and Singapore to purchase Free Bee Voice Buckets, which enable them to call their families in the Philippines. GrabPay is also in the final stages of its ongoing partnership with SM Investments Corp. Soon, GrabPay account holders may use their digital wallets to pay for their transactions in SM merchants aside from SM Cinema and SM Markets. Cu noted that all these services form part of his group’s thrust in using technology for good. “We have always seen our platform as a conduit for the good of all of our stakeholders—from passengers to driver-partners, from merchants to the overall economy—and this responsibility is the reason by which Grab continues to be a reliable partner to each and every Filipino. We’re committed to building solutions and partnerships that will help unlock the benefits of an inclusive digital economy for all,” he said.

August 29, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 257.61 -3.01% -1.67% 0.25% 2.15% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5271 2.19% 2.41% 1.56% 5.99% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.9787 -4.9% -3.17% -1.05% 1.94% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9557 3.16% N.A. N.A. 6.07% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8593 -1.5% N.A. N.A. 4.7% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.389 -1.93% -0.63% 0.44% 2.19% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.866 -1.32% -4.75% N.A. 3.5% MBG EQUITY INVESTMENT FUND, INC. -A 118.28 2.25% N.A. N.A. 1.82% PAMI EQUITY INDEX FUND, INC. -A 51.743 -0.18% -0.49% N.A. 5.12% PHILAM STRATEGIC GROWTH FUND, INC. -A 540.35 0.74% -1.34% 0.09% 4.98% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3061 -0.46% -0.1% 1.42% 4.15% PHILEQUITY FUND, INC. -A 38.3858 -0.2% 0.66% 1.43% 4.79% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0272 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2525 0.62% 0.45% 2.03% 5.92% PHILIPPINE STOCK INDEX FUND CORP. -A 876.82 0.65% 0.16% 1.97% 5.84% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9046 1.51% -0.9% N.A. 5.19% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2876 0.42% 0.3% 1.49% 5.63% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0078 0.26% 0.11% N.A. 5.61% UNITED FUND, INC. -A 3.6986 0.41% 1.81% 2.57% 5.65% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.5476 1.07% 0.99% 3.02% 6.14% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9242 -10.29% 1.07% -2.31% -0.53% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2691 -2.56% 6.58% N.A. 14.83% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6857 -1.36% -2.72% -2.19% 2.09% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2989 -0.61% -1.33% 0.24% 4.06% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6497 0.81% -0.2% -1.2% 4.19% GREPALIFE BALANCED FUND CORPORATION -A 1.3454 -1.26% N.A. N.A. 3.15% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.956 3.7% 0.39% 1.25% 6.13% PAMI HORIZON FUND, INC. -A 3.8092 4.02% -0.59% 0.62% 7.93% PHILAM FUND, INC. -A 17.0479 4.34% -0.55% 0.51% 7.17% SOLIDARITAS FUND, INC. -A 2.1494 1.29% 0.37% 1.65% 3.88% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8914 2.88% 0.24% 1.17% 6.58% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.021 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0085 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0051 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.996 2.99% 0.28% 0.82% 8.06% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03861 9.31% 2.16% 2.53% 9.38% PAMI ASIA BALANCED FUND, INC. -A $0.9607 -3.14% 0.89% -1.9% 5.14% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7262 1.27% 4.98% 2.51% 12.62% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.116 4.04% 3.25% N.A. 10.5% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.81 3.84% 2.27% 2.33% 3.01% ATRAM CORPORATE BOND FUND, INC. -A,1 1.913 3% -0.05% -0.01% 2.89% COCOLIFE FIXED INCOME FUND, INC. -A 3.076 5.34% 5.38% 5.28% 3.36% EKKLESIA MUTUAL FUND INC. -A 2.2221 4.69% 1.54% 2.19% 4.36% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3508 5.93% 1.5% 1.75% 6.61% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6079 1.25% -1.37% 0.25% 2.78% PHILAM BOND FUND, INC. -A 4.3341 9.68% 0.78% 2.03% 10.57% PHILEQUITY PESO BOND FUND, INC. -A 3.7443 7.52% 1.45% 1.74% 6.46% SOLDIVO BOND FUND, INC. -A 0.9551 5.92% -0.18% N.A. 7.17% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.034 9.18% 2.09% 2.7% 9.7% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6827 9.23% 1.63% 2.26% 9.27% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $463.46 4.21% 1.76% 2.75% 3.36% ALFM EURO BOND FUND, INC. -A Є220.26 3.21% 1.33% 1.56% 3.57% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.196 6.82% 2.04% 2.41% 6.25% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0259 4.44% 1.05% N.A. 4.44% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7176 0.57% -2.12% 0.43% 1.62% PAMI GLOBAL BOND FUND, INC -A $1.1058 6.36% -0.27% -1.54% 6.71% PHILAM DOLLAR BOND FUND, INC. -A $2.4222 11.01% 1.69% 3.52% 11.58% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0600199 5.63% 1.78% 2.01% 5.3% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1891 9.62% 1.05% 3.06% 11.04% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.49 4.1% 2.62% 2.07% 2.99% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.021 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.24 5.72% 2.39% 1.47% 4.92% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2523 3.92% 2.78% 2.15% 2.71% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0315 2.21% N.A. N.A. 1.54%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

Editor: Angel R. Calso

World Companies BusinessMirror

Friday, August 30, 2019 B3

Facebook tightens political ad rules, but leaves loopholes

AN FRANCISCO—Facebook is tightening its rules around political advertising ahead of the 2020 US presidential election, acknowledging previous misuse. But it’s not clear if it will be enough to stop bad actors from abusing its system. The changes include a tightened verification process that will require anyone wanting to run ads pertaining to elections, politics or big social issues like guns and immigration to confirm their identity and prove they are in the US. Beginning in mid-September, such advertisers confirm their group’s identity using their organization’s tax identification number or other government ID. The verified group name will be listed on the “paid for by” disclaimers that disclose the backers of ads. Facebook says it will verify this information against government records and will note in the disclaimer for confirmed ads that they’re placed by a “confirmed organization.” That process won’t apply to everyone, as Facebook says it would bar some smaller but legitimate groups from advertising. But a loophole that will allow small grassroots groups and local politicians to run political ads could also continue to allow bad actors to take advantage of the process. Advertisers who don’t have tax ID numbers, government web sites or registrations with the Federal

Election Commission will still be able to post ads by providing an address, verifiable phone number, business e-mail and web site. These advertisers won’t get a “confirmed” designation. Previously, only a US address was required. But it’s not inconceivable that bad actors will find a way to spoof phone numbers and e-mail addresses. “We’ve acknowledged that these tools will not be perfect,” Sarah Schiff, a Facebook product manager, said in an e-mail. “But we are committed to making it more difficult for bad actors to misuse and abuse our platform” without penalizing smaller organizations. Schiff also reiterated the company’s calls for regulation of online political advertising. Critics have said that Facebook’s attempts at self-regulation are merely a way for the company to preempt stricter government crackdowns. Last month, Facebook was ordered to pay a $5-billion fine to the Federal Trade Commission over privacy violations. It also faces a series of other investigations into its privacy practices in Europe and across the US, in addition to new inves-

OxyContin maker, govts in talks to settle lawsuits

THIS February 19, 2013, file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. State attorneys general and lawyers representing local governments said Tuesday, August 27, 2019, they are in active negotiations with Purdue Pharma, maker of the prescription painkiller OxyContin, as they attempt to reach a landmark settlement over the nation’s opioid crisis. AP PHOTO/TOBY TALBOT

OLUMBUS, Ohio—States and local governments are in talks to settle lawsuits with the maker of the prescription painkiller OxyContin that is facing billions of dollars in potential liability for its role in the nation’s opioid crisis. Suits filed by more than 2,000 state, local and tribal governments have cast Purdue Pharma as a chief villain in the overdose crisis in the US. A report by NBC News said the privately held company has offered to settle for $10 billion to

$12 billion. The Stamford, Connecticut-based company said it’s prepared to defend itself but sees little good in years of litigation. A lawyer representing local governments said all sides remain under a gag order but confirmed they were in “active settlement discussions with Purdue.” Attorneys general representing several states also confirmed the accelerated negotiations. AP

Thai oil giant PTT seeks partnerships with Middle East producers

HAIL AND’S state-controlled oil and gas company PTT Pcl. is looking to resource-rich countries in the Middle East to help meet the country’s growing energy demand. PTT is exploring partnership possibilities with Middle East countries that it could finalize in the next few years, Chief Executive Officer Chansin Treenuchagron said in a Bloomberg Television interview on Wednesday. Thailand’s oil demand rose to 1.48 million barrels a day last year, 1 million more than it produces, according to BP Plc. data. “We need crude and we maybe need exploration in some countries in the Middle East,” Chansin said. “Because we need supply for Thailand and Asian markets.” Chansin didn’t name any companies or countries currently in discussions with PTT, but said it would have to be something in line with PTT’s vision.

Oil companies from places like Saudi Arabia and the United Arab Emirates have been investing in Asian oil refiners to lock in buyers for their crude in the region with the fastest-growing demand. PTT is Thailand’s largest refiner. PTT is optimistic that the US-China trade war and resulting economic downturn will have only a short-term impact on oil demand. The company is also safeguarding against any long-term move away from crude consumption by diversifying to natural gas production and power generation, which would benefit from increasing demand for electricity in the region. “We aim to be the center of gas in this region,” Chansin said, adding the company is also increasingly investing in renewable energy and expanding its retail businesses. Bloomberg News

THIS March 29, 2018, file photo shows the Facebook moniker on screens at the Nasdaq MarketSite, in New York’s Times Square. Acknowledging misuse, Facebook is tightening its rules around political advertising ahead of the 2020 US presidential elections. AP PHOTO/RICHARD DREW

tigations into its allegedly anticompetitive behavior, such as the social network’s habit of buying would-be

rivals like Instagram and blatantly duplicating features introduced by competing services.

While the company has beefed up its fight against misinformation and coordinated attacks by malicious nation-states, the same can be said for those trying to game its systems. After revelations that Russians bankrolled thousands of fake political ads during the 2016 elections, Facebook and other social networks faced intense pressure to ensure that doesn’t happen again. In late 2017, Facebook said it will verify political ad buyers by requiring them to confirm their names and locations, the latter by receiving a postcard with a confirmation code at a US address. Page administrators also had to be verified. But critics said the rules were easy to evade. Last fall, for instance, Vice News was able to place ads on behalf of the likes of Vice President Mike Pence and the Islamic State, which were all approved by Facebook. AP

Friday, August 30, 2019

Banking&Finance BusinessMirror

www.businessmirror.com.ph

LandBank loans eyed to cover OFWs’ SSS membership

By Samuel P. Medenilla @sam_medenilla

HE Department of Labor and Employment (DOLE) is now eyeing the predeparture loan program of LandBank to allow all overseas Filipino workers (OFW) to be covered by the Social Security System (SSS). This is the new option being considered by DOLE to fully implement the provision of Repub-

lic Act 11199 or the Social Security Act mandating all OFWs to become SSS members.

“Dur ing our [recent] joint committee meeting, we talked about the ways to cover OFWs. One way that is being explored is for LandBank to give them a predeparture loan to cover the [SSS] contribution of OFWs,” Labor Undersecretary Ciriaco A. Lagunzad III. He said this will give OFWs SSS coverage before they are deployed as intended by RA 11199.

Under review

THE labor official said they are currently waiting for LandBank’s position on the proposal since it is currently “tweaking” its existing predeparture loan program for OFWs. “The predeparture loan program is undergoing review from

country of destination. He said this will give OFWs ample time to earn so they could afford their SSS premiums.

Voluntary

LandBank because its repayment [by OFWs] is not as good,” Lagunzad said. Earlier Labor Secretary Silvestre H. Bel lo III a lso pro posed deferring SSS membership for OFWs three months a f te r t he i r a r r iv a l i n t he i r

NONGOVERNMENT organizations, and the recruitment industry have opposed the implementing rules and regulations (IRR) of RA 11199 making SSS membership a requirement before the Philippine Overseas Employment Administration (POEA) issues overseas employment certificate (OEC) to OFWs. An OEC is documentary requirement for OFWs to work abroad. They claim OFWs, particul a rly newly h i red hou sehold service workers, cannot afford

the SSS premium before they are deployed. The Joint Manning Group, Migrante International and the Makabayan bloc of the House of Representatives questioned the legality of the IRR before the Supreme Court. Until the issue is decided by SC, Lagunzad said POEA only encourages its clients to voluntarily comply with the IRR. “They [POEA personnel] will inform all OFWs that they have to enroll with SSS...if they pay [the premium], then well and good. If they don’t, then POEA cannot stop their process and deployment because it will clash with their freedom to work abroad and fulfill their job contract,” Lagunzad said.

PHL, Ireland eyeing accord BSP denies issuing statement on KAPA R to avoid double taxation By Bianca Cuaresma @BcuaresmaBM

HE Philippines and Ireland discussed a proposed bilateral agreement that aims to avoid double taxation on individuals and companies in both countries. Finance Undersecretary Antonette Tionko said the first round of talks held recently in Manila covered discussions on avoiding double taxation on income and capital gains, as well as the prevention of tax evasion and avoidance. “While there are other provisions that need to be considered by the Philippines like Permanent Establishment and Entitlement to Benefits, the provisions on Persons Covered, the taxes to be covered, provisions on Residents and Immovable Property,

and Business Profits, among others, have already been mutually agreed upon,” Tionko said in a statement on Wednesday. Tionko, head of the Revenue Operations Group (ROG) of the Department of Finance (DOF), led the Philippine delegation to the talks held at the Ayuntamiento de Manila in Intramuros. Also, in the Philippine delegation were Assistant Secretary Dakila Elteen Napao of the DOFROG, Deputy Commissioner Marissa Cabreros of the Legal Group of the Bureau of Internal Revenue, and OIC-ACIR Larry Barcelo of the BIR Legal Service. Anne Margaret Gormley, director for the Tax Treaties Branch, Office of the Revenue Commissioners of Ireland, led the Irish delegation. Tionko said a working draft of a double-taxation agreement

bet ween the Phi lippines and Ireland is now being studied by both sides. Both delegations are set to meet again to further deliberate on items that have not yet been agreed upon during the initial round of talks. Double-taxation treaties prevent individuals who are residents of one country but receiving income in another contracting state or vice versa from being taxed twice for the same income, property or investment. The agreements also prevent tax evasion and encourages foreign trade and investments between countries. The Philippines currently has existing DTAs with several countries, including the United States, Switzerland, the United Kingdom and Northern Ireland, United Arab Emirates, Thailand, Australia and Germany.

EAD their lips. The Central Bank has no statement or act ion on t he K A PA - C o m mu n it y M i n i s t r y Inter nat iona l Inc. or a ny of its affiliates. Close on the heels of a similar warning by the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP) on Wednesday issued a statement advising the public that it has not released any statement or any issuance concerning the controversial group now facing various charges from illegally engaging

in investment schemes. “ This clarification is being issued in view of reports, particularly on social media, falsely claiming that the BSP has issued a statement purportedly approving K APA’s investment scheme or questioning delays on its approval by the Securities and Exchange Commission,” the BSP said. “KAPA is not a BSP-supervised entity,” the Central Bank added. Earlier on Tuesday, the SEC issued a statement denouncing K APA’s misrepresentation of the

agency in social-media posts that made it appear the SEC had given its nod to a new investment-gathering round by the K APA. In February this year, SEC issued a cease-and-desist order against K APA and an order of revocation of its certification of incorporation in April 2019. This, after K APA was found to have been soliciting investments from the public w ithout the necessary license, and t h at it s i nvest me nt sc he me qualifies as a fraud and a Ponzi scheme. Bianca Cuaresma

The secret to lasting companies: innovative CFOs

Takeaways from Indian Association Congress

WAS in New Delhi last week as one of the speakers of the Indian Association Congress (IAC) 2019 organized by the Indian Society of Association Executives (ISAE). Over 200 delegates, mostly from Indian associations, attended the event. There were five speakers from overseas. I was the lone speaker from the Philippines and with me were two speakers from the United States and one each from China and Korea. Launched in 2011, the IAC is an annual event aimed at establishing a unique learning and networking platform for association leaders in India and from abroad to discuss challenges and opportunities of building a strong and sustainable community of associations. The Philippine Council of A s s o c i at i o n s a n d A s s o c i a tion Executives, which I represent, is one of the supporting organizations of the congress. I am also an appointeemember of IAC’s international advisory council. The conference, themed “The Interconnected World of Associations,” highlighted the sharing of best practices on association management and governance, as well as emphasized the power of and the need for collaboration among associations to contribute to further advance social, economic and environmental development. The event dealt with the issues of membership, branding and communication, government and media relations, data secu-

Association World Octavio Peralta rity and privacy, cross-cultural dimensions, governance and collaboration strategies. Altogether, there were 24 speakers and panelists from professional societies and trade associations and chambers. Two other side events—the I AC Association Excellence Awards 2019 and Gala Dinner and the Knowledge Exchange of the Professional Convention Management Association—were also part of the congress program. Here are some of the takeaways I had from the event: n Lifetime membership—I learned that this type of membership is prevalent in Indian associations. While a huge influx of cash is attractive at the onset, a revenue shortfall over the years will be a big concern for associations moving forward. There is still an ongoing debate on its pros and cons. n Problem-solving role—An association serves its members by providing continuing education, peer networking and problem solving. For the latter, an association may adopt a thought leadership strateg y whereby it makes use of its knowledge content to curate relevant resources or, an expanded market strategy which targets members and nonmembers alike,

enabling the creation of rich and robust sources of tools on problem-solving. n Data as an asset and revenue source—Associations sit on a wealth of information and knowledge of their respective professions and industries. Collecting, monitoring, and analysis of data for research and knowledge kit production will provide associations with additional revenues. n Associations contribute to nation building—Professional and trade associations create standards of safety and quality, lifelong learning, professional development, mentoring, and research, specialized expertise and citizenship with communities around the globe, and facilitate domestic and international business. The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap), and the CEO and founder of the Philippine Council of Associations and Association Executives (PCAAE). PCAAE is holding the Associations Summit 7 (AS7) on November 27 and 28, 2019, at the Philippine International Convention Center (PICC) which is expected to draw over 200 association professionals here and abroad. T he t wo - day event is sup p or ted b y �� A df ia p�� , the Touri s m P r o m o t i o n s B o a rd a n d the PICC. E-mail inquiries@adfiap.org for more details on AS7.

FILE photo of the 2017 ING Finex CFO of the year awards rites, showing Ayala Corp. officials with their CFO Jose Teodoro Limcaoco.

HAT do Ayala Corp., San Miguel Corp., Pilipinas Shell, and SM have in common, aside from being among the most enduring conglomerates in the country, steeped in nearly a century or even more in corporate history? T hese compa n ies a re a l so home to some of the country’s exemplary chief finance officers recognized by Dutch financial giant ING Bank and the Financial Executives Institute of the Philippines 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 United States 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’s GCash for greater financial inclusion, and health-care technology, such as electronic medical records to make FamilyDOC, its

chain of community-based 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 stressed. One example is the hot-button topic on artificial intelligence 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 said. 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 added.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Friday, August 30, 2019 B5

NFA rice stockpile good for 13 days By Jasper Emmanuel Y. Arcalas

@jearcalas

HE National Food Authority’s (NFA) said its current rice buffer stock, which consists of imports and palay bought from local farmers, is enough to fill the country’s rice requirement for 13 days.

A FARMER sells his palay to the National Food Authority in Zamboanga del Sur in this NFA file photo.

DPWH completes P200-M Calbayog FMR project

Mindanao to ship ‘premium’ agri products to PNG T By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—Mindanao producers are targeting to ship premium rice and other agricultural goods cultivated in the island to Papua New Guinea (PNG), according to the Mindanao Development Authority (MinDA). A business and trade mission will go to Papua New Guinea from September 3 to 5 to explore the possibility of exporting agricultural products to the Pacific nation. The mission was finalized by MinDA Chairman Emmanuel F. Piñol and Papua New Guinea Ambassador to the Philippines Betty Palaso and Vice Minister Mannaseh Makiba. “I invited our friends from Papua New Guinea because one of the first projects that we will undertake is to export premium Mindanao rice [to the Pacific nation],” Piñol said in an interview last week. The MinDA chairman said he is also targeting to export Mindanao’s high-quality rice to the Solomon Islands and Singapore. The product will be sourced from Banaybanay in Davao Oriental, North Cotabato, Zamboanga del Sur and Zamboanga Sibugay. “We aim to open potential trade between Mindanao and Papua New Guinea through our quality rice and other premium agricultural products,” according to Piñol, who previously served as agriculture secretary. He said the trade mission will attend an investment forum and business-to-business networking with Papua New Guinea’s key private-sector players. “Possible importation of timber from Papua New Guinea to Mindanao is also another discussion during the mission to cater to the needs of Mindanao’s construction and real-estate industries,” the MinDA said. Some Mindanao vegetables and poultry products were included in the list of Piñol’s priority exports to Papua New Guinea.

MinDA said the trade mission was one of the international business road shows to be conducted with other national agencies to promote Mindanao’s economic potentials in the international market. “MinDA will also eye the possibility of spearheading the establishment of direct flights between Davao and Port Morseby, Papua New Guinea, as one of the agenda in the mission once the trade link is materialized and sustained,” Piñol said. Seven of the country’s top 10 agricultural exports are grown mostly in Mindanao or are produced in huge quantities in the island, according to data from the Philippine Statistics Authority (PSA). Two of the Philippines’s top export winners—coconut oil and bananas—are widely grown in Mindanao. Based on government data, the island accounted for 60.6 percent of the total export volume for coconut oil alone. Figures from the PSA showed that coconut oil remained the top agricultural export of the Philippines last year, with receipts reaching $1.11 billion, lower than the $1.6 billion recorded in 2017. Data also indicated that a huge chunk of banana exports come from three Mindanao regions— Davao region, Northern Mindanao and Soccsksargen. These three areas account for 74.8 percent of total export volume. Mindanao is expected to contribute more in terms of banana production as other areas in the island, such as those in the Bangsamoro Autonomous Region in Muslim Mindanao, now cultivate bananas. The PSA reported that shipments of bananas last year were valued at $1.5 billion, 32 percent higher than the 2017 record of $1.128 billion. Other major farm export winners are also produced in Mindanao. The main plantations of food companies that are known exporters of canned pineapples are in Bukidnon and South Cotabato.

HE Department of Public Works and Highways (DPWH) has completed a farm-to-market road (FMR) project in Samar, ushering better mobility and access for residents and farmers of Calbayog City. Public Works Secretary Mark A. Villar said the completion of the widening and rehabilitation of the Pilar Road will benefit the residents of 11 barangays that use the 18-kilometer road, which saw a state of deterioration over the years. “From the previous 4-meter rough road, the newly widened 6-meter road connecting Barangay Oquendo to Barangay Bayo has g reat ly faci litated faster transfer of products to the city center following its completion in March 2019,” he said. Amounting to a total cost of P200 million, the FMR project was divided into 10 projects in the fol low ing barangays: Oquendo, Cabugawan, Cagbilwang, Mawacat, Panlayahan, Cabatuan, Sigo, Cag-anibong, Pilar, Roxas and Bayo. From 2016 to 2018, Villar said a total of 2,964 FMR were completed through the convergence program of DPWH and the Department of Agriculture, while 1,110 are still ongoing. “This is part of our government’s continued effort to support the agricultural sector.” T he President ’s economic team considers FMRs as game changers for the agriculture sector, according to Socioeconomic Pl a nn ing Secret a r y Er nesto M. Pernia. Per nia said the economic team considers FMRs as important components of the government’s infrastructure initiative, particularly in the development of the farm sector. “[FMRs are important game changers for the agriculture sector] besides irrigation, mechanization, better seeds, comp e t e nt e x t e n s io n w o r k e r s , etc.,” he said. The construction and rehabilitation of FMRs, according to Pernia, will improve the transport of agricultural products and increase job opportunities for local farmers. Lorenz S. Marasigan

The NFA said its warehouses have a total of 8.5 million bags, or 425,000 metric tons of rice. The food agency’s buffer stock consists of 4.5 million bags of milled rice (225,000 MT) and 6.4 million bags of unhusked rice (200,000 MT). Of the 4.5 million bags of milled rice, 4.1 million were imported while the remaining 400,000 bags came from local farmers. While the agency’s stockpile is good for 13 days, it is mandated to maintain a buffer stock of as much as 30 days during the lean months of July to September. The country’s national daily consumption requirement (DCR) is pegged at 651,860 bags or about 32,593 MT. Republic Act 11203, or the rice trade liberalization law, mandates the NFA to maintain a buffer stock for 15 to 30 days of DCR to meet contingencies during calamities and emergencies anywhere in

the country. The NFA said it continues to buy palay from local farmers to further beef up its stocks and provide planters with a ready market for their produce at a “reasonable” price. “We conduct procurement operations on a year-round basis. We have more than 300 buying stations across the country that are open daily where farmers can deliver their produce and avail of our support price and incentives,” NFA Administrator Judy Carol Dansal said in a statement. The NFA currently buys palay at a support price of P17.70 per kg plus a buffer stocking incentive (BSI) of P3 per kg, P0.20 per kg drying incentive, P0.20 per kg delivery incentice, and P0.30 per kg cooperative development incentive fee. This brings the NFA’s maximum buying price for clean and dry palay to P20.70 per kg for farmer cooperatives and P20.40 per kg for individual farmers.

In the first half, the NFA procured 5.415 million bags of unhusked rice from farmers, surpassing its target of 4.649 million bags, due to its higher buying price. With this, the NFA said it has already achieved 37.42 percent of its full-year procurement target of 14.46 million bags. The NFA was only able to buy 74,420 bags of palay from local farmers last year, as private traders bought local rice at a higher price.

Assurance

THE NFA clarified that all its rice stocks are in good condition as these are kept in “strategically located warehouses nationwide are maintained in good condition at all times and ready for release to calamity victims as required under the law.” “We abide by what is dictated by our mandate. We store and handle our stocks following good warehousekeeping protocols in all our warehouses across the country so that we can immediately respond to any need for rice supply during calamities and emergencies,” Dansal said. “We assure the public that NFA is compliant with its mandate of maintaining a safe and sufficient buffer stock for any emergencies our countrymen may face anywhere in the country,” she added. The NFA said it will not allow its rice stockpile to rot or deteriorate beyond what is fit for human consumption.

Friday, August 30, 2019

The World BusinessMirror

www.businessmirror.com.ph

China rotates new troops into Hong Kong amid mass protests

ONG KONG—China’s military deployed fresh troops to Hong Kong early Thursday in what it called a routine rotation amid speculation that it might intervene in the city’s pro-democracy protests. Footage on CCTV showed armored carriers, trucks and a patrol boat crossing the border at night from the neighboring city

of Shenzhen. Scores of soldiers ran in unison onto trucks, which the state broadcaster said were bound for various ports and entry points

into Hong Kong. A handover ceremony was held overnight. “This time the task has a glorious mission. The responsibility is great. The job is difficult,” a major said to troops before they departed. “The time for a true test has arrived!” The official Xinhua News Agency said it was the 22nd rotation of the People’s Liberation Army’s garrison in Hong Kong. The previous one was in August 2018. Nearly three months of fiery a nt i-gover nment demonst rations have sparked concerns that the military will be deployed in

IN this photo released by China’s Xinhua News Agency, armored personnel carriers of China’s People’s Liberation Army (PLA) pass through the Huanggang Port border between China and Hong Kong on Thursday. Chinese state media has published photos of the country’s Hong Kong-based troops’ armored carriers and a patrol boat undertaking what they call a routine rotation. YUAN JUNMIN/XINHUA VIA AP

the semi-autonomous Chinese city. T he Hong Kong ga r r ison pre v iou s ly pu bl i she d a pro mot iona l v ideo w it h scenes of sold iers facing of f w it h people d ressed l i ke protesters. The soldiers in the new rotation were educated on Hong Kong’s laws and vowed to defend the nation’s sovereignty, Xinhua said. “We will firmly follow the command of [the ruling Communist Party],” Liu Zhaohui, the garrison’s deputy chief of staff, said on CCTV. “We will firmly implement the guideline of one country, two

systems and the Basic Law and the Garrison Law of Hong Kong.” A former British colony, Hong Kong was returned to China in 1997 under the ‘one country, two systems’ framework, which promises the city certain democratic rights that are not afforded to the mainland. In recent years, however, some Hong Kong residents have accused Beijing of steadily eroding their freedoms. When asked whether the military will step in, China’s Defense Ministry has pointed to a provision in the Garrison Law, which

a l lows Hong K ong- st at ioned troops to help maintain public order at the request of the city government. Hong Kong authorities, however, have said they can handle the situation themselves. Troops st at ioned in Macao, a not her s pec i a l ad m i n i st r a t ive reg ion, a lso completed a rot at ion T hu rsd ay. The last rotation of the Hong Kong garrison occurred one year prior. The Xinhua report on that rotation in August 2018 does not mention one country, two systems or national sovereignty. AP

IRAN SAYS NO TALKS WITH U.S. UNLESS TRUMP LIFTS SANCTIONS

UALA LUMPUR, Malaysia—Iranian Foreign Minister Javad Zarif says Iran’s supreme leader will not meet President Donald Trump unless Washington halts its “economic terrorism” that has hurt ordinary Iranians. Zarif says the removal of US sanctions

could also help salvage the Iranian nuclear deal, which the US unilaterally withdrew from last year. He says Tehran has the right to reduce its compliance under the nuclear pact after the US left but it can easily “revert back to full implementation” if the US

South Korean leader says Japan dishonest over wartime past

EOUL, South Korea—South Korean President Moon Jaein on Thursday berated Japan for carrying out its plan to downgrade South Korea’s trade status and reiterated that Tokyo was weaponizing trade to retaliate over political rows stemming from the countries’ wartime history. Moon said in a Cabinet meeting that Japan is being dishonest by insisting that its trade curbs weren’t retaliation over historical issues, including South Korean court rulings that called for Japanese companies to offer reparations to aging South Korean plaintiffs for forced labor during World War II. He said Japan should look “squarely at the past” and that its current actions were aggravating the pain and anger of South Koreans who suffered under Japan’s brutal colonial rule of Korea from 1910 to 1945. “Japan has yet to even state an honest reason for its economic retaliation.... No matter what excuse it provides as justification, it is clear that the Japanese government has linked historical issues to economic matters,” Moon said. Later Thursday, the countries’ diplomats are expected to hold working-level meetings in Seoul to discuss the trade row and security issues related to North Korea.

Tokyo’s recent moves to tighten controls on exports to South Korea, where major manufacturers like Samsung heavily rely on materials and parts imported from Japan, have touched off a fullblown diplomatic dispute. Seoul plans to similarly downgrade Japan’s trade status and terminate a bilateral military intelligence-sharing pact with Japan that symbolized the countries’ three-way security cooperation with the United States in face of North Korea’s nuclear threat and China’s growing inf luence. Following an angry reaction from Washington, Seoul said this week it could reconsider its decision to end the military agreement, which remains in effect until November, if Japan relists South Korea as a favored trade partner. Tokyo has justified its trade curbs by ra ising unspecif ied security concerns over South K o r e a’s e x p o r t c o nt r o l s o n sensitive materials that could be used for militar y pur poses and denied Seoul ’s accusations that it was retaliating over the histor y row. But Japanese government Swpokesman Yoshihide Suga did say on Thursday that the issue surrounding wartime forced laborers was the “biggest problem in bilateral relations.” Japan insists

fulfills its commitment and returns to the table. He told a forum in Kuala Lumpur on Thursday that “you do not negotiate with terrorists. If they want to negotiate, they have to abandon terrorism,” in reference to the rollback of sanctions. AP that all compensation matters were settled when the two countries normalized relations under a 1965 treaty and that the South Korean court rulings go against international law. Suga said Tokyo will continue discussions with Seoul over the issue, but didn’t specifically comment on Moon’s remarks. Moon said South Korea w ill employ a variety of measures to minimize the impact of the Japa nese t rade c u rbs on it s trade-dependent economy. “We will take this as an opportunity to elevate our economy to a new level by strengthening competitiveness of the manufacturing sector and other industries,” Moon said. “As a sovereign state, we will also resolutely take steps to respond to Japan’s unjust economic retaliation.” Japan’s downgrading of South Korea’s trade status, which took effect Wednesday, followed a July move to strengthen controls on exports of chemicals South Korean companies use to produce computer chips and displays for smartphones and TVs, which are among South Korea’s key export items. South Korea’s removal from Tokyo’s trade “white list” means that Japanese companies would need to apply for approval for each technology-related contract for South Korean export, rather than the simpler checks granted a preferential trade partner, which is still the status of the United States and others. AP

The World BusinessMirror

Editor: Angel R. Calso

Oil holds gain after drop in US inventories curbs demand angst

IL held gains after a drop in US inventories eased demand concer ns and took attention away from the deepening trade war. Futures in New York edged lower after rallying 4 percent over the previous two sessions. US stockpiles fell by 10 million barrels last week to the lowest since October 2018, the Energy Information Administration reported on Wednesday. However, a 1.6-percent increase in American production to a record over the same period tempered the price optimism. T he d rop in A mer ican inventories is evidence that agg ressive out put c ut s b y t he Organization of the Petroleum Exporting Countries and its allies are having an impact on the market. Still, crude is heading for a monthly loss as investors see little chance of a quick fix to the US- China trade conf lict, while the growing likelihood of a no-deal Brexit is also stoking demand angst. “Global trade spats will keep downward pressure on oil, limiting prices from rising higher,” said Kim Kwangrae, a commodities analyst at Samsung Futures Inc. in Seoul. The market seems concerned about rising American production and wasn’t as responsive as it might have been to the big drop in inventories, he said.

West Texas Intermediate crude for October delivery lost 22 cents, or 0.4 percent, to $55.56 a barrel on the New York Mercantile Exchange as of 11:33 a.m. in Singapore after swinging between gains and losses earlier. The contract settled 1.6 percent higher on Wednesday. Brent for October fell 37 cents, or 0.6 percent, to $60.12 a barrel on the ICE Futures Europe Exchange after closing 1.7 percent higher on Wednesday. The global benchmark crude traded at a $4.56 premium to WTI. American crude stockpiles fell by 2.3 percent, the most since midJuly, to 427.8 million barrels last week, the EIA data showed. That was in line with an earlier estimate by the industry-funded American Petroleum Institute. Meanwhile, the nation’s oil output rose to 12.5 million barrels a day, the highest in EIA figures going back to 1983. Trade tensions between Washington and Beijing reached new heights last Friday when China announced retaliatory tariffs against the US and President Donald Trump responded by ratcheting up duties on Chinese products. Treasury Secretary Steven Mnuchin said Wednesday that US trade officials expect Chinese negotiators to visit Washington, but he wouldn’t say whether a previously planned September meeting would take place. Bloomberg News

Trudeau envoy presses Cuba to mediate in Venezuelan stalemate

USTIN TRUDEAU’S top diplomat struck an optimistic tone after talks in Havana over the crisis in Venezuela, despite Cuba’s unwavering support for Nicolas Maduro’s regime in Caracas. Wednesday’s trip to the island by Foreign Minister Chrystia Freeland marked her third round of face-to-face talks with her Cuban counterpart since Canada began pushing, in concert with the US and a group of Latin American nations, for Maduro to cede power amid economic collapse and the resulting migrant crisis. Venezuela was high on the agenda when Freeland hosted Secretary of State Mike Pompeo in Ottawa last week. But she didn’t bring any specific message to Havana on behalf of the US, according to a Canadian government official who spoke on condition of anonymity about the private discussions. Freeland said she and Cuban Foreign Minister Bruno Rodriguez shared their “different perspectives on the crisis in Venezuela, and expressed hope that a path forward can be found,” according to a statement from her office Wednesday evening. They also agreed “senior officials would stay in contact and continue to exchange views, in order to be as helpful as possible.” The Cuban government also issued a public statement on the discussions, with Rodriguez striking a similarly diplomatic tone on Twitter even as he stressed Havana’s “invariable solidarity” with its increasingly beleaguered ally in Caracas. The Trump administration blames the Cuban communist government of Miguel DiazCanel for propping up Maduro, accusing it of infiltrating Venezuela’s military and intelligence apparatus—an accusation Havana denies,

despite the eyewitness accounts from torture victims and military defectors. The White House has been tightening sanctions on both nations, in part with an eye to winning votes among exile communities in Florida. “Cuba is a key stakeholder in determining whether Maduro remains in power,” James Bosworth, a political consultant and author of the Latin America Risk Report newsletter, said by phone Tuesday from Bogota. “It absolutely makes sense for governments that care about Venezuela’s future to negotiate directly with the Diaz-Canel administration in Havana.” The head of the US section at the Cuban foreign ministry said in May his government is willing to help negotiate a peaceful end to the crisis so long as Maduro is at the table. And with Cuba’s centralized economy teetering under the combined effects of a US ban on cruise-ship travel, lawsuits over confiscated property and reduced shipments of subsidized oil from Venezuela, it’s likely the government would want some measure of relief from sanctions in exchange for its cooperation. Requests for comment from Cuban officials in Ottawa, New York and Havana weren’t immediately returned before Wednesday’s talks. “Cuba and the United States cannot have a productive conversation about Venezuela,” Mark Entwistle, a former Canadian ambassador to Cuba who now advises multinational companies on doing business there, said from Toronto. “But the Cubans seem to be open to Canada playing some kind of intermediary role, the final results of which remain to be determined—if there are any results at all.” Bloomberg News

Friday, August 30, 2019

No-deal Brexit spells more pain for already-weakened economy

RITAIN has just edged closer to a no-deal Brexit that could deliver another blow to an economy already strained by domestic uncertainty and a global slowdown. Companies have consistently lobbied for a transition period when the nation leaves the European Union, yet Prime Minister Boris Johnson shrugged those calls off on Wednesday when he said he plans to suspend Parliament before taking the country out of the bloc on October 31. The business community was quick to respond, warning that more political chaos will cause further in countr y already on the brink of recession. Here’s how the economy looks w ith two months to go.

Slowdown

THE economy shran k in t he second qu a r ter, t hough t hat was largely payback after Brexit stockpiling at the start of the year. With so much “noise” in the numbers, it’s hard to disentangle how much of the loss of momentum in the economy is down to a natural slowdown, weaker global demand and Brexit. The economy is forecast to rebound this quarter, but a chaotic departure from the EU would lead to a more serious downturn.

Investment slump

ONE area of the economy that’s definitely taken a hit from Brexit uncertainty is investment. It’s fallen for four straight quarters, and was down 1.6 percent yearon-year in the three months through June. Bank of England Governor Mark Carney says a Brexit deal will release some of that delayed spending, but some of it is lost forever. The BOE’s gloomy outlook for investment, predicated on some form of deal, sees it dropping 2 percent this year and another 1.5 percent in 2020.

Currency

THE weaker pound has helped lift the share price of internationally exposed companies on the FTSE 100, though it hasn’t triggered an export boom. It’s also lured in foreign buyers looking for bargains in the UK corporate sector. While some argue that shows how Britain remains an attractive investment destination, the currency can’t be ignored as a big factor. Sterling has lost 18 percent against the dollar since the referendum more than three years ago. The number of overseas acquisitions of British companies jumped in 2018 to the highest in at least 15 years.

The bright spot

ALL hail the labor market. Jobs growth has continued apace in recent years, pushing unemployment to the lowest since the 1970s. It’s also starting to feed through to wages. Annual growth has started to pick up and, importantly, pay is now outpacing inf lation. Even with w e a k e n i n g c o n s u me r c o n f i dence, the continued good news from the labor market is helping to keep consumers spending. However, there have been some signs of the Brexit jitters, with the latest data showing vacancies falling to their lowest since early 2018. That could hint at some ner-

vousness about taking on extra staff in an increasingly uncertain environment.

Long-term problem

BRITAIN’S dismal productivity performance shows little sign of going away. Annual productivity growth has averaged around

0.5 percent since the financial crisis compared with over 2 percent in the years prior to 2008, and more recently has seen outright declines. Brexit could compound the problem by killing off some vital investment and reducing the inf low of skilled labor. Bloomberg News

B8 Friday, August 30, 2019

DINE MANILA: Your food and resto guide at 97.9 Home Radio

7.9 Home Radio and Dine Asia present “Dine Manila” – your food and resto guide on radio! This segment is targeted to listeners who are 18 years old and above who are at home, in the office and on the road during traffic.

“Dine Manila is the perfect guide for you while you think of where to eat and what to eat. This segment will surely satisfy your mouth watering cravings that gives you options that are within your reach and within your budget,” said Mary Anne Meiley-

Creator/Director of Content Strategy of the program. The segment runs 5 times a day, highlighting 5 different restaurants and specialty dishes every Monday to Friday. Backed up with information on the restaurant’s contact information, location and store hours. These are the restaurants you should not miss out on. 97.9 Home Radio is a commercial broadcast radio station broadcasting 24/7 with an Easy Listening format serving Metro Manila and its surrounding areas with Adult Contemporary Music. Owned and operated by Insular Broadcasting System Inc., prides itself for being committed to a philisophy which transcends mere business. Dine Asia, a popular restaurant guide magazine since its first issue in 2008, has been pushing their bounderies to the limit and diversified to bring their restaurant guide to radio. The soft launch of Dine Manila was held at Baker Brothers at SM Aura Premiere. On hand to welcome guests were Tito Encarnacion, Randy C. Cabangon and Braggy Braganza, all from INSULAR BROADCASTING SYSTEM INC., and Mary Anne Meiley- Creator/Director of Content Strategy - Dine Asia.

FROM LEFT: Prof. Randy Nonato-Brafe Golf XIV Core Group, Mr. Roy Pena-Chairman Brafe Golf XIV, Mr. Anthony Cabangon-BM Publisher, Mr. JR Hernandez--Brafe Gold XIV Core Group and Mr. Bong Africa-Brafe Golf XIV Core Group during Business Mirror and Brafe Golf XIV Core Group MOA singing held at BM office in Makati City. Photo by ROY DOMINGO

Be a Mini Pizza Master at Cucina

HE little tots are up for a challenge! Let them learn a new skill as pizzaiolo Chef Pasqualino Barbasso lets them do the tossing and making of their own pizza this 1, 8, and 15 September! Two-time World Champion of Pizza Acrobatics Chef Barbasso will be guiding young guests as they try out their pizza tossing skills at Cucina on 1 September (Sunday). He will be showcasing his skilful moves at the restaurant from 28 August to 5 September for La Vita Italia. Cucina’s friendly chefs will also be on hand for pizza making lessons that children can enjoy on 8 and 15 September. These classes are open to young guests aged six to 12 years for a fee of Php 1,000 per child. Interested parties can reserve their spaces through (+632) 720 7720 or email restaurant.mnl@marcopolohotels.com Chef Pasqualino is set to enthral the young and the young-at-heart with his wacky pizza stunts when he visits Cucina for La Vita Italia from 28 August to 15 September 2019. For more information and reservations, please call (02) 7207720 or email restaurant.mnl@marcopolohotels.com.

Villar Sipag Events Place presents Worldwide Weddings Bridal Fair

OVE fills the atmosphere once again as Villar Sipag Events Place located at C5 Extension Las Pinas City presents the Worldwide Weddings Bridal Fair from August 31 to September 1, 2019, from 10AM to 7PM. Catering to all wedding needs, soon to weds must ake the opportunity to meet world-class exhibitors, witness performances, experience workshops, food tasting and get a chance to win a pre-nup pictorial in the first ever Korean photo studio in the country by SilverMoon Studios, and honeymoon accommodations for 2 in Bali, Indonesia. Celebrating love is a joyous event and Worldwide Weddings Bridal Fair is here to help couples choose from the different wedding suppliers who specialize in catering, cakes, photo booths, souvenirs and many more. Meet the world class designers and see how they could design the most spectacular bridal gown for the bride to be. Plan your dream wedding and make it a reality. World Wide Weddings Bridal Fair, likewise, is calling on all suppliers and exhibitors to join and showcase their products and services. Be a part of our event here in the country and abroad. Take the opportunity to maximize your exposure and promote your goods and services as the organizer will provide each exhibitor the chance to be featured on our print ad placements around the neighboring cities, online ad placements on the official website and social media accounts, wedding and event websites, and expo and other related websites. Get the chance to be featured and promoted by various social media influences in their respective websites. Exhibitors will also be included in our Direct Listing on our website. Exhibitors will also be acknowledged live during the event. Exhibitors will also be given the opportunity to include marketing provisions or tools in our Goodie Bags. We will also give exhibitors a chance to have a 1 min Company Video on our website and a free 30-day trial of BrideWorthy Pro and experience e-mail blasts to over 12,000 Brides on BrideWorthy's database. Be a part of our event and get a 10% discount when you join both our local and international Bridal Exhibits. Brideworthy is the number one website for finding the right venue and professional suppliers who can cater to your dream wedding. This site eliminates the long search for different suppliers and travelling to

different locations just to see what they offer. Even destination weddings such as exotic locations are also available for viewing on this site. If you have no time to go venue hopping, feel free to check out their 360 Virtual Tours. This tool allows you to view the different wedding venues actual location without leaving the comforts of your home.

Introducing Casa Aguilar

Casa Aguilar is a historical event and wedding venue in the heart of Las Piñas City. It is set in a magnificent dome, massive patio and charming Victorian Mansion where you can explore your creativity while organizing your event . This exceptional location has access to different parking facilities in the vicinity making this an ideal spot for organizing a range of events. Casa Aguilar caters to all kinds of events may it be from a regular party to debuts and weddings and there are three function rooms to choose from: De Lanai, Piazza de Lydia and Patio Filemon. De Lanai is the middle room separating the formal areas from the lanai and has a rustic bar at the end of the room. This can accommodate between 40-50 guests and is best for small cocktail or birthday parties and even corporate meetings. Piazza de Lydia is the dome structure at the back of the mansion. It takes on an elegant eminence in its royal blue roof with flower-like drapes and georgian-tuscan white walls. and can accommodate up to 200 guests for a wider range of events such as weddings. Patio Filemon, on the other hand, is perfect for larger events, this garden can accommodate up to 350 guests. Patio Filemon was professional landscaped and features fountains reminiscent of classic Spain, Grecian urns and flower beds, and can accommodate up to 350 guests. Casa Aguilar has its own accredited caterers, sound system and events management teams to ensure that your event is covered by professionals who are veterans in the industry. Casa Aguilar also offers Bed and Breakfast stay. Choose from 3 different luxury suites for you and your family or guests namely deluxe, superior or suite room. Casa Aguilar is located at 1179 Tropical Avenue, BF Homes International Las Piñas City Metro Manila 1740 Philippines.

SERENA AVOIDS TEEN’S Sports UPSET AX BusinessMirror

| Friday, August 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

VENUS GETS DOOR

By Howard Fendrich

EW YORK—Serena Williams flubbed yet another shot and wailed, “I keep missing my forehand!” She was in trouble, if only briefly, against 17-year-old American Caty McNally, who is friends, and doubles partners, with Coco Gauff. Making key adjustments to her serve and straightening out her other strokes, Williams avoided what would have been her earliest loss in 19 appearances at the US Open, coming back to beat McNally, 5-7, 6-3, 6-1, in a match that ended as Wednesday turned to Thursday. “You can’t win tournaments making that many errors,” Williams said. “I knew I had to play better, and I knew I could.” And so she did. “Obviously, she’s going to pick up her level. I knew that was going to happen,” McNally said. “Next time, I just have to raise my level with hers.” Williams improved to 38-0 in the first two rounds at Flushing Meadows. The only time she was beaten as early as even the third round in New York was in her tournament debut all way back in 1998—when she was just 16 herself. The following year, Williams won the first of her six US Open championships. McNally hadn’t even been born yet. Now 37, Williams owns 23 Grand Slam singles titles in all, and she showed off why while powering her way through a deficit, taking 16 of the final set’s initial 17 points. McNally had never won a match at any major tournament until Monday. She is ranked 121st and received a wild-card invitation from the US Tennis Association for singles and for doubles, the latter with 15-year-old sensation Gauff. It was Gauff who beat Williams’s older sister, Venus, on the way to the fourth round of Wimbledon last month. Might another stunner be in the offing?

Seemed a possibility for a set, anyway, with McNally charging the net, serving-and-volleying, and looking like someone who belonged. Maybe that’s why Williams never looked comfortable early. Took time to get into a real groove. Went stretches without being the dominant force she’s been for a couple of decades and sure was just the other night while absolutely overwhelming five-time major champion Maria Sharapova 6-1, 6-1 in the same arena. The Arthur Ashe Stadium crowd, made louder than usual under the retractable roof that was closed all day because of showers, alternated who it was pulling for, more than happy to cheer for either woman representing the United States at the country’s Grand Slam tournament. Who doesn’t love to support an all-time great, after all? And who doesn’t enjoy getting behind a true underdog? “She’s young. It’s her first time in a stage like this and only her second Grand Slam, so I think there’s a lot to gain from it,” said Lynn Nabors-McNally, Caty’s mother, who also helps coach her. “It’s a great stepping stone to a lot of things.” So there was McNally, almost strutting to the sideline while waving her arms, trying to get the spectators to offer even more noise and more applause after she pulled out the opening set in impressive fashion. First, McNally converted her only break point of the match to lead 6-5. Then she served out the set despite falling behind love-40, erasing three break points and hitting a 103-mph service winner to seal it—and implored the fans to get loud. They obliged. “I knew I was playing against the greatest of all time.... I walked out there and I had the chills,” McNally said. “Super happy just to get a set from her. That’s something that not very many people do.” And for a bit of the second set, too, McNally stayed with Williams. But Williams started to pull away, in part by dispensing with the serves out wide that McNally was handling well, and in part by reducing her mistakes from 15 unforced errors in the first set, to 11 in the second to two in the third. “Actually, I’d rather not be tested in every match. But that doesn’t happen. So it’s important for me to have those, like, really rough, rowdy matches,” Williams said. “That helps a lot.”

5-7, 6-3, 6-1, and qualifier Dominik Koepfer of Germany eliminated Reilly Opelka of the US 6-4, 6-4, 7-6 (2). “You go through a little phase where you don’t start so well and everybody asks you right away, ‘What are you going to do?’ You’re like, I don’t know. Just go back to the drawing board. Just do the same things again. You hope for a better outcome,” said Federer, owner of a total of 20 major trophies, four ahead of Djokovic. “I don’t think there is, per se, a secret to a good start, other than warming up well, being wellprepared mentally, not underestimating your opponent. I did all of that. You know me, I will always do that.” He also ceded the first set to 190th-ranked Sumit Nagal in an eventual four-set victory Monday.

Federer called that pattern “just a bit frustrating, more than anything, especially when the level is that low and there is that many errors and the energy is not kind of there.” Against Dzumhur, who is ranked No. 99 now but has been as high as No. 23, Federer fell behind 4-0 after all of 15 minutes. He was sluggish and his shots were off-target, to the tune of 12 unforced errors within the match’s first 19 points. “Basically,” Federer concluded, “the entire set, just sort of donated.” Hardly ideal, on this particular day or in the big picture: Never in the 107-year history of the tournament has a man gone on to claim the trophy after losing the first set in both of his first two matches. AP

EW YORK—It took all of five minutes in the US Open’s second round for Venus Williams to drop twice as many games as she had in her opening match a couple of days earlier. And although she eventually made things interesting against No. 5 seed Elina Svitolina, the 39-year-old Williams could not ever quite take control and lost 6-4, 6-4 before a crowd pulling for her under a closed roof at Louis Armstrong Stadium on a rainy Wednesday afternoon. “Thank you, guys,” Svitolina, a semifinalist at Wimbledon in July, told the crowd in her on-court interview, “even though you didn’t support me.” Williams is among the most popular players on tour. She won the US Open twice—all the way back in 2000 and 2001. She also collected five Wimbledon singles championships, 14 Grand Slam doubles titles with her younger sister, Serena, and reached No. 1 in the rankings. She fought for equal prize money in tennis for women and has become one of her sport’s leading voices. “It’s unbelievable what she does, on the court and off the court,” Svitolina said. “Really a big inspiration for everyone.” Williams, now ranked No. 52, looked terrific in her first-round match at Flushing Meadows on Monday, defeating Zheng Saisai 6-1, 6-0. Against Svitolina, in contrast, Williams trailed 2-0 right away. She made unforced error after unforced error, 23 in the first set alone. And while she cleaned that up later, it wasn’t enough. Williams led 3-0 in the second set before Svitolina reeled off five consecutive games. Williams fended off five match points while serving down 5-3 in a monumental, 15-minute game, but that only prolonged things briefly, because Svitolina then served out the victory. It was Williams’s eighth Grand Slam tournament in a row that she exited in the third round or earlier. “Sad it had to end early here,” she said. AP

The Associated Press

SERENA WILLIAMS is in trouble, if only briefly, against 17-year-old American Caty McNally, who is friends, and doubles partners, with Coco Gauff. AP

VENUS WILLIAMS

FOR Novak Djokovic, it’s in the form of a left shoulder that is hurting right now and probably contributed to slower-than-usual serves in the US Open’s second round Wednesday night. AP

Djokovic deals with pain, Federer faces deficit N EW YORK—Maybe, just maybe, Novak Djokovic and Roger Federer are feeling some lingering after-effects of their historic Wimbledon final last month. For Djokovic, it’s in the form of a left shoulder that is hurting right now and probably contributed to slower-than-usual serves in the US Open’s second round Wednesday night. For Federer, it’s in the form of slow starts: He’s lost the opening set each of his first two matches at Flushing Meadows for the first time in 19 times he’s entered the Grand Slam tournament. If they’re going to reprise their rivalry late next week in the semifinals, both will need to improve. Djokovic was repeatedly visited by a trainer for shoulder massages at changeovers during a ragged 6-4, 7-6 (3), 6-1 victory over 56th-ranked Juan Ignacio Londero of Argentina. Djokovic is a righty, of course, but he uses his other hand both for ball tosses on serves and on his two-fisted backhand—and both were less effective for stretches. “I was definitely tested. This is something I’ve been carrying for a quite a while now,” said Djokovic, who repeatedly shook his left arm between points while serving in his first-round match Monday and did that again this time. “It wasn’t easy playing with the pain and you have to

fight and hope you get lucky with some shots.” Even though he won for the 35th time in his past 36 Slam matches, including in a fifth-set tiebreaker against Federer at the All England Club on July 14, the Serb looked uncomfortable and went away for stretches, including trailing 3-0 in the second set. Asked how he plans to prepare for his next match Friday, Djokovic replied with a laugh: “I’ll probably freeze my arm for 48 hours, not do anything with it, and then see what happens.” Federer, meanwhile, is not about to start trying new tricks now, despite needing to come back twice already. He got to the third round by beating Damir Dzumhur 3-6, 6-2, 6-3, 6-4 on an afternoon when rain postponed all but nine scheduled singles matches and every doubles contest. Still, it’s not as if the guy is going to seek some sort of magic solution. Working up more of a sweat in the gym before heading to the court, say. Or playing an extra practice set. What he chose to focus on, instead, is looking on the bright side: “Can only do better,” Federer said, “which is a great thing, moving forward.” At a Flushing Meadows flush with surprises so far—half of the top 12 seeded men already were gone by the time

Federer stepped into Arthur Ashe Stadium—he cleaned up his act quickly. Indeed, Federer was one of the lucky ones who will stay on the usual play-one-day, get-a-day-off Grand Slam schedule. Only matches at Ashe or Louis Armstrong Stadium, the event’s two arenas with a retractable roof, were held. That included a loss by two-time champion Venus Williams to No. 5 seed Elina Svitolina, and victories for No. 2 Ash Barty, No. 3 Karolina Pliskova and 2017 runner-up Madison Keys on the women’s side, and a win for No. 7 Kei Nishikori on the men’s. In the last matches completed on Day 3, which both ended at around midnight, Serena Williams came back to beat 17-year-old American Caty McNally

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Friday, August 30, 2019

HANGHAI—After a month of practice and years of planning, the US men’s basketball team has arrived at the World Cup. An all-night flight from Sydney to Shanghai that landed early Thursday brought the two-time defending World Cup champion Americans to China’s most-populous city, where they’ll play three first-round games starting Sunday. It took more than 10 hours of flying time, then another two-plus hours for the team to clear customs and finally reach its hotel. From there, a few hours of relaxing awaited before a scheduled afternoon practice. “I’m ready to get things going,” US guard Kemba Walker of the Boston Celtics said. A handful of fans waited outside the team hotel on a rainy morning, getting there a couple hours before the buses from the airport pulled in just with the hope of grabbing a few autographs. Some players obliged, as did US Coach Gregg Popovich— who used a gold marker to carefully sign his name on an array of photos, sneakers and basketballs. A couple minutes later, the Americans were headed upstairs. Rest was foremost on the agenda. “Great to be in Shanghai, start of World Cup in couple days,” US forward Khris Middleton of the Milwaukee Bucks said as he took the escalator toward his room. “Excited and ready to go.” The travel itineraries for the US have already been daunting. The flights from Los Angeles to Melbourne, then Melbourne to Sydney and now Sydney to Shanghai add up to nearly 30 hours and 14,000 miles in the air. If the US makes the medal round, there’ll be about another 2,500 miles of travel within China. Add the return flight to the US after the tournament, and the trip’s total will easily exceed 22,000 miles—more than half a regular season’s worth of travel for most NBA teams.

READY TO RUMBLE All that flying comes in the span of basically a month. And that doesn’t even count what it took for players to individually reach Las Vegas and Los Angeles, the site of the two training camp weeks. “We’re feeling great,” US center Myles Turner of the Indiana Pacers said. “We learned a lot over these past couple weeks, learned a lot about each other, learned a lot about the competition. We’re getting to know each other better. As opposed to just running a whole bunch of plays, we’re reading each other, making plays off each other.” The Americans went 3-1 on their pre-World Cup tour, beating Spain in Anaheim, California, then splitting two games against Australia in Melbourne—the loss snapping a 78-game winning streak for the senior national team in major competition, dating to 2006—and then topping Canada in the final tuneup. “We have a great team of guys, very unselfish group,” Bucks center Brook Lopez said before the team left Australia. “We all have the same goal in mind. A lot of young guys, so we have a lot of guys who are learning on the fly. We don’t have a problem being a team. Our guys have come together really quick.” And now, with the trip to the other side of the world finally complete, the games now count. “Get the real thing started,” Walker said as he walked down the jetway in Sydney. “It’s about that time.” AP

US Coach Gregg Popovich signs autographs upon the team’s arrival in China. AP

Madrazo tops 5th stage, Lopez takes overall lead

RCOS DE LAS SALINAS, Spain—Defying his team’s advice to save energy, Angel Madrazo kept pushing hard on the final climb to win the fifth stage of the Spanish Vuelta on Wednesday, while Miguel Angel Lopez used a late charge to take the overall lead. Madrazo broke free in the final 500 meters (547 yards) of the 170-kilometer (105-mile) stage, which ended on a mountain top by an astronomical observatory in the city of Arcos de las Salinas. “To win here is one of the biggest achievements as a cyclist and for me it’s become a dream come true,” the Spanish rider said. “The team was telling me to save energy for tomorrow, for the mountain points. And I

told them, ‘No, no, we need to go for it, we can’t put off until tomorrow what can be done today.’” The rider from team Burgos-BH had stayed near the front throughout the final kilometers in a breakaway group that included teammate Jetse Bol and José Herrada of team Cofidis. Bol crossed the line in second place, 10 seconds off the lead, with Herrada coming in 12 seconds later. “I wanted to win myself, but when a teammate wins, and it happens the way it did, it just feels incredible,” Bol said. “Madrazo was dropping and coming back the whole time but when he attacked he was gone for good. It was impressive.” Lopez, a Colombian from Astana Pro Team,

finished fourth in the stage, 47 seconds behind Madrazo. Alejandro Valverde, of Movistar Team, was fifth. Lopez and Valverde had been about seven minutes behind the breakaway group entering the final climb but cut most of the gap. Lopez opened a 14-second gap to Jumbo-Visma rider Primoz Roglic in the overall standings. Nairo Quintana of Movistar Team was 23 seconds off the lead, while Valverde trailed by 28 seconds in fourth place. Irish rider Nicolas Roche, who held the leader’s red jersey entering Wednesday’s stage, fell to fifth place overall, 57 second behind Lopez. “We’ve only won a few seconds but that’s already something,” Lopez said. “There’s a lot of racing left but

so far everything is going great for us. There’ll be more differences opening in the next days.” Thursday’s sixth stage will take riders nearly 200 kilometers (124 miles) from Mora de Rubielos to another mountain-top finish in Ares del Maestrat. In Frankfurt, former Tour de France champion Jan Ullrich has been fined €7,200 (nearly $8,000) over an altercation with an escort at a Frankfurt hotel last year. The Frankfurt prosecutors’ office didn’t name Ullrich in a statement detailing the order by a city court, but news agency dpa reports that the 45-year-old “former German cycling professional” in question was Ullrich. The 1997 Tour champion is alleged to have insulted and injured the Congolese escort. Prosecutors say he was intoxicated at the time. Prosecutors said the fine was imposed on suspicion of bodily harm and attempted coercion. They said the woman didn’t want to pursue the case further after receiving an apology and unspecified compensation. Under German law, such “orders of punishment” from prosecutors can be challenged, taking a case to trial. AP

ALDRENER IGOT JR. reaps one gold after another in archery.

COHO-U.A.A.P. PARTNERSHIP

MADRAZO

COHO by Vista Land commits its full support for Season 82 University Athletic Association of the Philippines men’s basketball action that gets gets going this weekend. Shown signing the partnership at the Mella Hotel in Las Piñas City are (from left) Nicole MachucaMoro, Sales Head, ABS-CBN Sports + Action; Vince Rodriguez, Channel and Production Head, ABS-CBN Sports + Action; Jennifer de la Cruz, Operations Head, Coho by Vista Land; and Jan Christopher Gonzales, Corporate Communications Head. ROY DOMINGO

FIBA WORLD CUP PREVIEW GROUP A Schedule: At Beijing Aug. 31: Poland vs. Venezuela, Ivory Coast vs. China September 2: Venezuela vs. Ivory Coast, China vs. Poland September 4: Ivory Coast vs. Poland, Venezuela vs. China Teams: CHINA FIBA ranking: 30. NBA fans already know names like Yi Jianlian and Zhou Qi, but Guo Ailun—a 25-year-old with almost a decade of national-team experience already— might end up being the biggest key to the hosts’ potential World Cup success. IVORY COAST FIBA ranking: 64. Deon Thompson was part of North Carolina’s 2009 NCAA championship club, and has a silver medal from the 2007 FIBA U-19 world championship (where he played for the US on a team with Stephen Curry, Patrick Beveley, DeAndre Jordan, Michael Beasley and more). POLAND FIBA ranking: 25. Poland Coach Mike Taylor is a Florida resident who once served as the assistant coach for Nick Nurse— now coach of the NBA champion Toronto Raptors and Team Canada—with the G League’s Rio Grande Valley Vipers.

competitions over the last two decades. An early concern—top guard Facundo Campazzo is dealing with a sprained right ankle. KOREA FIBA ranking: 32. Diminitive guard Heo Hoon is the youngest on the Korean roster at 24, though has a legacy already—his father, Hur Jae, is a Korean player and coaching legend. NIGERIA FIBA ranking: 33. One of the few teams in the tournament that could have five NBA players on the court at one time if it wanted, with Ike Diogu, Al-Farouq Amini, Ekpe Udoh, Josh Okogie and Chimezie Metu all on the final roster. RUSSIA FIBA ranking: 10. Russia was one of the last teams to finalize a 12man roster for the World Cup, and will likely rely on shooting guard Sergey Karasev in the group stage. THE PICKS Argentina and Nigeria to the second round. GROUP C Schedule: At Guangzhou, China Aug. 31: Iran vs. Puerto Rico, Spain vs. Tunisia September 2: Tunisia vs. Iran, Puerto Rico vs. Spain September 4: Puerto Rico vs. Tunisia, Spain vs. Iran

VENEZUELA FIBA ranking: 20. Gregory Vargas averaged 11.3 points, 4.3 rebounds and 2.7 assists for Venezuela in the 12-game series of World Cup qualifiers, and is one of eight returnees from the team that played in the 2016 Rio Olympics.

Teams: IRAN FIBA ranking: 27. Former NBA player Hamed Haddadi provides veteran presence, and the player to watch might be streakshooting guard Mohammad Jamshidi—a real threepoint threat who also has the ability to score in traffic.

THE PICKS China and Poland to the second round.

PUERTO RICO FIBA ranking: 16. The opening game against Iran is a must-win for Puerto Rico, a team that added undrafted Sacramento Kings signee Isaiah Pineiro—whose grandparents are Puerto Rican—to the national roster for the first time this summer.

GROUP B Schedule: At Wuhan, China Aug. 31: Russia vs. Nigeria, Argentina vs. Korea September 2: Nigeria vs. Argentina, Korea vs. Russia September 4: Korea vs. Nigeria, Russia vs. Argentina Teams: ARGENTINA FIBA ranking: 5. The seemingly ageless 39-year-old Luis Scola is in his fifth World Cup, and has been part of Argentina winning 15 medals in major international

SPAIN FIBA ranking: 2. Gold-medal hopefuls with Marc Gasol, Ricky Rubio and Sergio Llull leading the way for a very veteran squad. Spain should have minimal trouble getting to the second round.

TUNISIA FIBA ranking: 51. Dallas center Salah Mejri is the leader for Tunisia, along with California-born wing Michael Roll— who was part of three Final Four teams at UCLA and became a Tunisian citizen in 2015. THE PICKS Spain and Puerto Rico to the second round. GROUP D Schedule: At Foshan, China Aug. 31: Angola vs. Serbia, Philippines vs. Italy September 2: Italy vs. Angola, Serbia vs. Philippines September 4: Angola vs. Philippines, Italy vs. Serbia Teams: ANGOLA FIBA ranking: 39. Angola Coach Will Voigt is a native of Vermont, coached Nigeria at the 2016 Olympics—and not only used to work in the San Antonio Spurs’ video room, but crashed at the home of Spurs Coach (and Team USA Coach) Gregg Popovich for a few months when he needed a place to stay. ITALY FIBA ranking: 13. Marco Belinelli and Danilo Gallinari lead the way for the Italians, who stumbled into the tournament with seven losses in their final eight tuneup games this summer— including a 32-point routing from Serbia. PHILIPPINES FIBA ranking: 31. The name people will best know is naturalized Filipino and nine-year NBA veteran Andray Blatche, but the name they should know is June Mar Fajardo—a 6-foot-11 center with five MVP awards from his homeland’s top pro league. SERBIA FIBA ranking: 4. The roster is loaded: All-NBA center Nikola Jokic, Boban Marjanovic, Nemanja Bjelica and Bogdan Bogdanovic are all on the team, which has made clear that it believes it can win the gold medal. THE PICKS Serbia and Italy to the second round. GROUP E Schedule: At Shanghai September 1: Turkey vs. Japan, Czech Republic vs US September 3: Japan vs. Czech Republic, US vs Turkey September 5: Turkey vs. Czech Republic, US vs Japan

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IGOT: 6 AND COUNTING

By Ramon Rafael Bonilla

UERTO PRINCESA City— Aldrener Igot Jr. continued to hit the mark for Cebu City but defending champion Baguio City made its strong presence felt in the Batang Pinoy National Championships on Thursday. Igot topped the boys’ Olympic round in

archery to bag his sixth gold medal—15th overall for his team—in the pivotal stretch of the premier grassroots tournament organized by the Philippine Sports Commission and supported by Milo. But Baguio City, the two-time champions,

made its assault in the standings as the Summer Capital’s harvest in judo, wushu and wrestling paid dividends. Still, Igot’s domination could go a long way for Cebu City as he targets his seventh and eighth gold medals in boys team and mixed team events on Friday. The 14-year-old student of the Don Carlos Gothong Memorial National High School edged Nathaniel Carlos of Puerto Princesa, 6-2, in the Olympic round. He earlier ruled the boys cub 20m, 30m, 40m and 50m, and single Fita events. “If there’s a chance to win my eighth medal, I will go for it,” said Igot, who bagged only two bronze medals in the Baguio City Finals last year. As the athletics competition came to a close at the Speaker Ramon V. Mitra Sports Complex,

Magvrylle Matchino of Laguna Province emerged with the most success with four gold medals. Matchino teamed up with Janine Dauba, Evita Ruth Bellosa and Kyla Elona to win the girls 4x100 m (52.4 seconds) and 4x400 m (4:17.30) to add to her triumphs in 1,500 m and 800 m. Combat sports remained the top source of medals for Baguio City as Thursday’s production turned out to be its biggest, yet. Leerenz Tindaan (-50kgs), Aeon Lance Kim (-55kgs) and Wright Lonogon (-60kgs) conquered their respective weight divisions in judo. In schoolboys wrestling, Jeremy Malecdan bagged the mint in the -42kgs category. Princess Quinzon (girls 42kgs) and Crizzle Anne Sadcopen (girls 52kgs) prevailed in wushu sanda, while 11 more golds were hauled in wushu taolu events as the reigning

TALL ORDER FOR GILAS VS. ITALY T

HE national men’s basketball team has set foot in China on Thursday for the Fiba World Cup where it set a modest goal of going part the group stage. Gilas Pilipinas opens its campaign against Italy on Saturday. Coach Yeng Guiao, along with his 12-man lineup and team staff, left Manila in the morning and landed a few hours later in Guangzhou. The first order of business for the Filipinos

Energy Drink beats ‘Hyper’

Teams: CZECH REPUBLIC FIBA ranking: 24. Tomas Satoransky’s best scoring game for the Washington Wizards last season was a 21-point effort on Jan. 27—at San Antonio. He’ll lead the Czechs, who open against the US and Spurs Coach Gregg Popovich. JAPAN FIBA ranking: 48. Wizards rookie and Gonzaga alum Rui Hachimura and Memphis forward Yuta Watanabe (who went to high school in Connecticut and played college ball at George Washington) are the clear leaders of this squad. TURKEY FIBA ranking: 17. There’s plenty of talent there, with NBA players Cedi Osman, Ersan Ilyasova and Furkan Korkmaz leading the way for a team that went to the quarterfinals of the last World Cup in 2014. UNITED STATES FIBA ranking: 1. It’s gold or bust for the two-time defending World Cup champions, bidding to become the first nation to win three straight. Kemba Walker and Donovan Mitchell could be a dynamic backcourt, but the loss to Australia last week raised plenty of eyebrows— and doubt. THE PICKS The US and Turkey to the second round. GROUP F Schedule: At Nanjing, China September 1: New Zealand vs. Brazil, Greece vs. Montenegro September 3: Montenegro vs. New Zealand, Brazil vs. Greece September 5: Brazil vs. Montenegro, Greece vs. New Zealand Teams: BRAZIL FIBA ranking: 12. Anderson Varejao, Leandro Barbosa, Cristiano Felicio and Alex Garcia lead the way for the Brazilians, who beat Montenegro earlier this summer and might have to do it again in the group-play finale to advance. GREECE FIBA ranking: 8. NBA MVP Giannis Antetokounmpo of the Milwaukee

are the Italians at the Foshan International Sports and Cultural Arena. On paper, Gilas has to defy great odds to hurdle past the higher ranked Italians. The National Basketball Association-powered squad is at No.13 in the Fiba world rankings, 18 spots better than the Philippines. Guiao, a first-timer on the world stage, will rely on the wits and guts of his players who will again be anchored by naturalized

player Andray Blatche. Joining the former Brooklyn Nets power forward are returnees June Mar Fajardo, Gabe Norwood, Paul Lee and Japeth Aguilar, who all saw action in the 2014 Spain World Cup. The NLEX Road Warriors coach hopes that their outside shooting will click against the tall Italians. “When we shoot well, we will win games,” Guiao said. “Games will be easier when we shoot from the outside.”

LACK Mamba bit Hyperwash, 91-83, and inched closer to a playoff spot in the Philippine Basketball Association Developmental League Foundation Cup on Thursday at the Ynares Sports Arena in Pasig City. Bobby Balucanag led the Energy Drink’s well-deployed attack with 21 points on a perfect

10-of-10 field goal shooting, while also hauling down nine rebounds in the win. Jett Vidal produced 14 points, four rebounds, and three assists, Kim Medina supplied 13 points, while PJ Barua added 12 markers as Black Mamba improved its card to 3-1. Black Mamba seized control of the match late

Bucks leads the Greeks, and has said he would give back that trophy in exchange for World Cup gold. Florida-born point guard Nick Calathes—a former Florida Gator—will run the offense.

JORDAN FIBA ranking: 49. Jordan was a very tough out when it debuted at the World Cup in 2010, losing by one to Australia (a game where it led by five with just over a minute remaining) and nine to Argentina.

MONTENEGRO FIBA ranking: 28. Orlando Magic star Nikola Vucevic, coming off the best season of his NBA career, gives his homeland hope of a second-round berth—but the opener against Greece will be daunting. NEW ZEALAND FIBA ranking: 38. The player to watch may be guard Tai Webster, who was a big-time scorer for Nebraska as a senior there in 2016-17 and went on to get a summer league stint with the Golden State Warriors. THE PICKS Greece and Brazil to the second round. GROUP G Schedule: At Shenzhen, China September 1: Dominican Republic vs. Jordan, France vs. Germany September 3: Germany vs. Dominican Republic, Jordan vs. France September 5: Germany vs. Jordan, Dominican Republic vs. France Teams: DOMINICAN REPUBLIC FIBA ranking: 18. Dominican Republic Coach Nestor Che Garcia has also led the national teams of Uruguay, his native Argentina and Venezuela—plus has coached pro teams in Puerto Rico, Argentina, Saudi Arabia, Venezuela, Uruguay, Mexico and Spain. FRANCE FIBA ranking: 3. A very real gold-medal contender led by Rudy Gobert in the middle, returning All-World Cup team member Nicolas Batum, and NBA veterans Evan Fournier and Nando de Colo. Frank Ntilikina will get minutes at point guard. GERMANY FIBA ranking: 22. Dennis Schroder and Maxi Kleber figure to be the two leaders for the Germans, coached by former North Carolina guard Henrik Rodl. The game against the Dominican Republic could be makeor-break for Germany.

THE PICKS France and Germany to the second round. GROUP H Schedule: At Dongguan, China September 1: Canada vs. Australia, Senegal vs. Lithuania September 3: Australia vs. Senegal, Lithuania vs. Canada September 5: Canada vs. Senegal, Lithuania vs. Australia Teams: AUSTRALIA FIBA ranking: 11. The Boomers pulled off the pretournament shock with a win in Melbourne over the United States, and arrive in China with plenty of momentum. Patty Mills runs the offense, and Andrew Bogut patrols the paint. CANADA FIBA ranking: 23. Not having Miami’s Kelly Olynyk (knee) will hurt the Canadians, who are still good enough for the second round but will have to survive what will likely be the best of the eight groups. Nick Nurse, coach of the NBA champion Toronto Raptors, is coaching Canada. LITHUANIA FIBA ranking: 6. Memphis’ Jonas Valanciunas and Indiana’s Domantas Sabonis are the two best players for the Lithuanians, who bring back five players from the team that went to the World Cup in 2014. SENEGAL FIBA ranking: 37. Senegal went 10-2 in the African Qualifiers for the World Cup, tying Nigeria and Tunisia for the best record. But it’ll be a tall task for Senegal to break through in this group. THE PICKS Australia and Lithuania to the second round.

titlist hiked its collection to 27 golds which catapulted them to the No.1 position. Cebu City was in second with 15 golds, 19 silvers and 19 bronzes. Davao City (15-12-14), Pasig City (14-24-12) and Cotabato (14-3-1) complete the top 5 local government units. In cycling, Ruben del Cruz of Pangasinan, Athena Magpantay of Sara (Iloilo) and Lwahna Montanes of Parañaque clocked 7:21.8, 27:13.9 and 37:15.3 in reigning supreme in their respective age brackets in cross-country of mountain bike. In sepak takraw, Rose Ann Alila, Kristine Brigino and Rea Lawan of Santa Maria, Bulacan, copped the girls regu team event gold, while Rey Pueblo, John Carl Huessa, Franz Matapuego, Fritz Pastrana and Shermon Lee of Mina, Iloilo ruled boys regu team event. The team is also composed of Mark Barroca, Kiefer Ravena, Roger Poger and versatile big men Troy Rosario and Raymond Almazan. Completing the cast are rookies Robert Bolick and CJ Perez. Italy has a strong lineup composed of Marco Belinelli of the San Antonio Spurs, Danilo Gallinari of the Oklahoma City Thunders and former Detroit Piston Luigi Datome. President Duterte, who is in China for a state visit, promised to watch the Italy match. Gilas needs to win at least two games as only the top 2 squad will advance to the next round. Ramon Rafael Bonilla

in the payoff period, slithering away from a close 79-76 lead with a 12-5 blitz, punctuated by John Tayongtong’s free throws that gave it a 91-81 lead with 1:17 left to play. JR Cawaling tried to spark one last run for Hyperwash with a lay-up seconds later, but the rest of the Vipers could not buy baskets in the clutch.

RED DIWA seeks more podium finishes.

DIWA TARGETS PODIUM

HE newly look waku doki action of the Vios Racing Festival returns to Clark International Speedway on Saturday with Formula V1 racer and Vios Cup veteran Red Diwa suiting up for Growl-Thule Racing in the Vios Circuit Championship’s marquee Sporting Class. Finishing third and second in his last three races—with a close fourth in the final heat— Diwa eyes more podium spots and the top finish that have eluded him so far. The gates open at 9 a.m.

Growl Corp. is one of the largest developers and distributors of first-class OEM in-dash Audio, Video and Navigation (AVN) systems. The product is customized for different car models. Thule Sport and Cargo Systems, on the other hand, is exclusively distributed by Tow and Stow Industries Inc. They are an importer, distributor and manufacturer of vehicle towing products, such as hitch receivers (Totalhitch), trailers (Totaltrailers) and accessories.

Perlas Spikers tame dangerous Kat

ANGED against a tall, young squad boasting of one of the league’s leading hitters, BanKo-Perlas did the next best thing to slow down Choco Mucho and post its first back-to-back victories in the Premier Volleyball League Season 3 Open Conference— clamp down on Kat Tolentino. The Perlas Spikers held the former Lady Eagle, who normed 18 points in the Flying Titans’ first three games, to just eight points, leading to their 25-18, 25-20, 25-23 victory late Wednesday for a hold of solo second place behind unbeaten Creamline (5-0).

Former UP stalwart Kathy Bersola stood at the forefront of BanKo-Perlas’ solid net defense, producing five kill blocks on top of putting up a team-high 15-point effort that helped break the team’s win-loss-win-loss-win roll for its first back-toback romp in the season-ending conference of the league organized by Sports Vision. “We did watch out for Kat since she’s the team’s top scorer,” said BanKo-Perlas’ skipper Nicole Tiamzon, who backed Bersola in offense by churning out an 11-hit showing, all via kills, as the Perlas Spikers moved up the ranking with a 4-2 card. “Kathy’s blocking helped us a lot.”

CAREER CHANGE FOR LLOYD?

DOMINGO

Placido Domingo concert opens sports complex in Hungary

ZEGED, Hungary—Placido Domingo received a warm reception Wednesday at a concert in Hungary to inaugurate a new soccer stadium for a Catholic diocese, the second of the opera star’s European engagements since he was accused of sexual harassment in an Associated Press report. Domingo, who shared the stage with his son, Placido Domingo Jr., and Puerto Rican soprano Ana Maria Martinez, faced allegations of sexual harassment from nine women in the report that was published August 13. The audience in the Saint Gerard Forum, as the stadium is called, applauded respectfully when Domingo appeared on stage during a ceremony before a concert. But the welcome seemed more measured than the standing ovation awarded to him Sunday by the opera crowd at the Salzburg Festival, his first performance since the publication of the allegations. While two US opera houses canceled appearances as a result of the allegations, Domingo’s European engagements have continued as scheduled. Still, his interaction with journalists was limited. A news conference planned for Monday in Szeged was called off, and access to a rehearsal was restricted. Bishop Laszlo Rigo-Kiss referred to Domingo as “the master” when thanking him for his performance. The singer did not speak during the ceremony. Concert organizer Andreas Magony drew a link between the allegations

against Domingo and the large number of lawyers in the United States. “What needs to be known is that the cultures of the United States and Europe are totally different,” Magony told the AP. “The United States is the home of the show. In reality, everything is about lawyers. There everything can be made into a show.” He praised Domingo’s “fantastic stage achievements,” his love of family and his “unbroken popularity.” “The honest and pure human communication with which he lives his life can only fill us with pride. And I believe the audience thinks the same,” Magony said. “We can have only honor and love toward Placido Domingo, who is a colossal artist and a colossal man.” The AP story included extensive allegations that spanned decades, starting in the 1980s. The women accused Domingo of using his power at the LA Opera, where he has been the longtime general director, and elsewhere to try to pressure them into sexual relationships. Several of the women said he dangled jobs and then sometimes punished them professionally if they refused his advances. Allegations included repeated phone calls, invitations to hotel rooms and his apartment, and unwanted touching and kissing. In a statement to the AP, Domingo called the allegations “deeply troubling and as presented inaccurate.” He said he believed his interactions with the women to be consensual. He has not spoken publicly about the report. The #MeToo movement has had limited effect in Hungary, where leading politicians have drawn criticism for statements seen as demeaning to women. In a 2015 speech, Parliamentary Speaker Laszlo Kover said that daughters should consider bearing grandchildren as “the height of self-fulfillment.” In 2013, a lawmaker said that his wife broke her jaw and cheek bones after tripping over their blind dog. He later admitted punching her and slamming her head against a wooden railing. Domingo has performed numerous times in Hungary, including a 1996 concert in Budapest with Jose Carreras and Diana Ross. He is also known for his support for “Virtuosos,” a Hungarian talent show for young classical musicians. Audience members at the Hungarian performance seemed skeptical about the allegations. “I can’t say for sure that there was no basis to it, but after so many years, I have my doubts. That’s all,” Istvan Garaczi said. Anna Orosz said she recently read a book about Domingo and said the allegations did not influence her “listening or the enjoyment of his music.” AP

Sports BusinessMirror

| Friday, August 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BALTIMORE Ravens’ Sam Koch holds the ball for US soccer player Carli Lloyd as she attempts to kick a field goal after the Eagles and the Ravens held a joint practice in Philadelphia on Tuesday. AP

HILADELPHIA—Fresh off the United States’s victory in the Women’s World Cup, could Carli Lloyd be entertaining thoughts about a career change? The 37-year-old soccer star nailed a 55-yard field goal during a joint practice between the Philadelphia Eagles and Baltimore Ravens last week. And on Wednesday she was peppered with questions about a possible National Football League (NFL) future. “It’s gone from just having fun kicking to, ‘Will she play in the NFL?’ At first I was just laughing about it but the more that I spoke with my husband, he’s all for it and my friends and family, they’re really encouraging me to

potentially take up this opportunity,” said Lloyd, who is in Philadelphia with the national team for a victory tour match against Portugal on Thursday night. It’s not the first time she’s hit a long field goal. During the World Cup qualifying tournament last fall, she got a 45-yarder at the Cowboys’ practice facility in Texas. Lloyd is well known for her kicking ability. In the World Cup title match in 2015, Lloyd scored three goals including a blast from midfield to give the United States a 5-2 victory over Japan. But she acknowledged that kicking in the NFL is very, very different from scoring from 50-yards out—like wearing pads and facing

Prep sports participation drops in US

PAINTSVILLE’S John Walker Phelps makes a 44-yard touchdown run past Lawrence County’s Andrew Tackett in Louisa, Kentucky, recently. Paintsville won, 48-17. AP

300-pound opponents. “You can’t really touch a kicker, but it happens. I’m not naive to that. But there is that part of it, no doubt. And there’s challenges as far as being with all males and the locker room and there’s a whole range of things, and I get that,” she said. “But I’m not afraid to step up in front of the whole world and actually do it.” Indianapolis Colts kicker Adam Vinatieri, a veteran of five Super Bowls, said earlier this week that he thought Lloyd’s kick was “pretty cool.” But like Lloyd, he also said it’s one thing to kick in practice, and another to perform in a game. “For you to go out and hit a ball without a rush and

ED by a decline in football for the fifth straight year, participation in US high-school sports dropped in 2018-19 for the first time in 30 years, according to an annual survey conducted by the National Federation of State High School (NFSH) Associations. The 2018-19 total of 7,937,491 participants was a decline of 43,395 from the 2017-18 school year, when the number of participants in high-school sports reached a record high of 7,980,886. The last decline in sports participation numbers occurred during the 1988-89 school year. The group said 11-man football dropped by 30,829 to 1,006,013, the lowest mark since the 1999-2000 school year. It was the fifth consecutive year of declining football participation. “We know from recent surveys that the number of kids involved in youth sports has been declining, and a decline in the number of public-school students has been predicted for a number of years, so we knew our ‘streak’ might end someday,” said Karissa Niehoff, NFHS executive director. “The data from this year’s survey serves as a reminder that we have to work even harder in the coming years to involve more students in these vital programs—not only athletics but performing arts programs, as well.” Although the number of participants in boys’ 11-player football dropped, the number of schools offering the sport remained steady. The survey indicated that 14,247 schools

a snap and a hold and no get-off time and stuff, it’s different than doing live stuff,” Vinatieri said. “But I saw it, it was pretty impressive how far she kicked the ball.” US Coach Jill Ellis, who is stepping down from the team following the victory tour, joked when asked about it: “Did you hear the next one that I’m going to be her agent?” Ellis said if any woman could break into the NFL, it would be Lloyd. “When I first came on the scene, I saw Carli Lloyd strike a ball and I said, ‘Holy crap that’s the hardest I’ve ever seen a woman hit a ball,’” Ellis said. “She certainly has the velocity, and I think it’s very cool. I think it would be great.” AP offer 11-player football, an increase of 168 from last year. A comparison of the figures from the past two years indicates the average number of boys involved in 11-player football on a per-school basis dropped from 73 to 70, which includes freshman, junior varsity and varsity teams. While participation in boys’ 11-player football dropped in all but seven states, participation in six-, eight- and nine-player football gained 156 schools and 1,594 participants nationwide, with the largest increase in boys’ eight-player football from 19,554 to 20,954. In addition, in the past 10 years, participation by girls in 11-player football has doubled, from 1,249 in the 2009-10 school year to 2,404 last year. “The survey certainly confirms that schools are not dropping the sport of football, which is great news,” Niehoff said. “Certainly, we are concerned about the reduction in the number of boys involved in the 11-player game but are thrilled that states are finding other options by starting six-player or eight-player football in situations where the numbers have declined. “While we recognize that the decline in football participation is due, in part, to concerns about the risk of injury, we continue to work with our member-state associations, the nation’s high schools and other groups to make the sport as safe as possible.” The NFHS said combined basketball participation was down 23,944 (13,340 girls and 10,604 boys), and the girls basketball total of 399,067 was the lowest total since the 1992-93 school year. The decline was largely attributed to a 25,000 drop in Texas during a two-year period. AP

Good-loving God

EAR God, You care those who revere You. In company with Saints Joachim and Ann, the parents of Mary, we pray: Give us joy in Your presence, oh God. Inspire Pope Francis, bishops and Your Church by the light of Your saving Word. Bless parents and grandparents, and guardians with Your love and peace. Help us to cultivate a listening heart, obedient spirit and courageous will. May the God of our ancestors lead us along the everlasting way and grant us a share in the inheritance with Jesus, born of Mary. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

SOMETHING LIKE LIFE: IN DEFENSE OF HOMEWORK D3

Friday, August 30, 2019

Leonardo DiCaprio meditates about stardom F

OUR-TIME Oscar nominee (What’s Eating Gilbert Grape?, The Aviator, Blood Diamond, The Wolf Of Wall Street) and winner for The Revenant, Leonardo DiCaprio now toplines Quentin Tarantino’s Once Upon a Time...in Hollywood. Set in 1969, Tarantino recreates in Once Upon a Time...in Hollywood the time and place of his formative years, when everything—the United States, the city of Los Angeles, the Hollywood star system, even the movies themselves—was at an inflection point, and no one knew where the pieces would land. All this is not entirely dissimilar from the changes buffeting Hollywood today. At the center is Rick Dalton, played by DiCaprio. Rick had been the star of Bounty Law, a hit television series in the 1950s and early 1960s, but his prophesied transition to motion picture stardom never materialized. Now, as Hollywood moves toward a hippie aesthetic, Rick worries that his time has passed—and wonders if there’s still a chance for him. “Rick Dalton is a by-product of the 1950s—the 1950s pompadour hero—but now there’s a new era and this train has passed him by,” says DiCaprio. “Working with Quentin, we saw Rick Dalton’s story as a journey of an immense lack of confidence—his inability to be thankful for the position that he’s in and what he’s already gotten. He’s constantly yearning for something more.” Here, DiCaprio talks some more about the film, and working with Tarantino and Brad Pitt. Who do you play in Once Upon A Time...In Hollywood? I play Rick Dalton. I’m a product of the 1950s

“Besides the idea of Rick being an actor that’s experiencing a shelf life, I realized that it’s about a person that’s dealing with their own mortality, in a lot of ways, and coming to terms with that.” cowboy television craze, and I’ve reached my expiration date, so to speak. My stuntman Cliff and I are trying to get our foot in the door. We’re watching not only the changing of the culture but we’re these old TV cowboy guys that are now relics of the past. The world is changing, and we’re not fitting in. Not only is Quentin a great cinephile and lover of this art form, but he’s a great historian of this industry, and he’s taken the perspective of two guys that are voyeurs on the outside of Hollywood looking in. That’s a really unique approach to take on this time period, which I think he reveres as not only one of the most pivotal parts of American history, but also a time that made way for some of the greatest achievements in cinematic history. What appealed to you about the character? When I first read the script, besides the idea of

Rick being an actor that’s experiencing a shelf life, I realized that it’s about a person that’s dealing with their own mortality, in a lot of ways, and coming to terms with that. Were you surprised that you’ve never worked with Brad before? Yeah. I mean, we were on the same [1980s to 1990s] TV show Growing Pains. We’d never really worked together, though. It’s interesting because as we— Quentin and Brad and I—started talking, we realized that we all came around in this industry in the same era and at the same time, in that early to mid-1990s time frame. So we have that prior reference. How did you find working with him? It was fantastic. He’s an amazing actor, so professional, and so easy to work with. Not only from

the intersecting story together, so there was this great comfort we had, not only from working together, but we knew so much of our characters’ backstories given to us by Quentin that it made way for great moments of improvisation. There was just this natural thing that came out in us. Not a lot was needed to be said. We understood the bond between our characters. We understood it implicitly. We literally had folders of what our history was together: how long we’ve been in the industry, how Cliff had had my back through the hard times. Have you ever bonded with a stunt double on any of the movies you’ve worked on? To me, Brad’s character, Cliff, is not just a stunt double. He’s more of an all-purpose Swiss army knife to my character—he’s a shoulder to cry on, he’s a psychiatrist, he’s a bodyguard, he’s an assistant, he’s everything. Rick pays him and gets 12 other jobs into the bargain. Rick keeps him working, but he’s there for him. I’ve had guys like that. You’re off in fricking Africa for eight months and you’ve got that person that’s going to be there, just to be silent and watch TV with you when you don’t want to be alone. You and Brad have an easy chemistry on-screen. Is that something that you had to work at, or did it come naturally? Well, that’s a lot to do with Quentin. Quentin brings to you almost like a novel of your history as a character, so Brad and I stepped on the set having read almost like a biography on our characters’ past work,

Continued on d4

Society BusinessMirror

Friday, August 30, 2019

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Andy Roddick, 37; Lisa Ling, 46; Cameron Diaz, 47; Michael Chiklis, 56. HAPPY BIRTHDAY: Envision what you want to achieve this year, and set your plans in motion. This year is about completion, change and getting what you want. Don’t waste time procrastinating when you should be taking action and living your dream. Don’t let other people’s situations stand between you and your longterm goal. Transparency will help you get your way. Your lucky numbers are 6, 14, 20, 28, 32, 45, 47. BALTAZAR and Tessie Endriga, Maritess Tantoco-Enriquez and Renato Enriquez

PAQUI CAMPOS (from left), Silvana Diaz, Mon Diaz and Robert Young

ARIES (March 21-April 19): Before agreeing to something, find out what you’ll have to do and what you will get in return. Mutual respect and equality need to be a starting point if you plan to move forward with something or someone. HHH

TAURUS (April 20-May 20): If you crave change, go somewhere or try something you’ve never experienced. Meeting new people or doing something with someone you love is encouraged. Love and romance will enhance your life. Socializing, traveling and personal improvements are favored. HHHHH

GEMINI (May 21-June 20): Take a close look at what someone offers. You’ll be taken advantage of if you are too accommodating. Be open to information, but don’t provide too much to someone who isn’t willing to give back. HH

KOJI HANEDA, Philippine ambassador to Japan, and Ihoko Haneda, wife of the ambassador

RUSTAN Commercial Corp. President Donnie Tantoco and Roberto Coin Asia Sales Director Philip Nicolas Grima.

ODETTE PUMAREN and Techie Hagedorn

DIVISION Manager for Fine Jewelry Lana Vistan (from left), TantocoEnriquez, and Merchandise Manager for Roberto Coin Jeanne Carpio.

Glittering collections, reimagined space L UXE retail giant Rustan’s (www.rustans.com) and Roberto Coin recently hosted an affair to showcase the jeweler’s new space and most up-to-date collections for the glittering woman. The celebration was graced by jeweler Philip Nicolas Grima, who was instrumental in introducing the brand to a global audience. He was among those who were able to appreciate the new Roberto Coin space within Rustan’s Makati Silver Vault that is now at a larger 29 square meter and is also the only boutique that carries Cento exclusively in the Philippines. The occasion was joined as well by Rustan Commercial Corp. President Donnie Tantoco, Member of the Board Maritess Tantoco-Enriquez, Baltazar and Tessie Endriga, Paqui Campos, Eric Jean Valade, Jamby Madrigal, Kevin and Michelle Tan,

LEO (July 23-Aug. 22): Take stock before you make any unnecessary changes. Know what you are up against, what you need and how best to be competent and cost-efficient. Finish taking care of your responsibilities before you move on to more pleasurable pursuits. HHH

VIRGO (Aug. 23-Sept. 22): Put everything in order, and take care of unfinished business. Pay attention to detail, and don’t be fooled by someone’s exaggerated opinion. Stay on track and on budget, and deviate only when there is a clear-cut purpose to do so. HHH

and Maru Go, among others. The exquisitely crafted pieces of fine jewelry can add a sparkling note to an eye-catching ensemble. There is an art in crafting and combining fine gems and precious metals into gorgeous and timeless pieces of jewelry that Roberto Coin has mastered and is presenting in his latest collections, including limited-edition designs that will be available at the Rustan’s Silver Vault. This season, the Roberto Coin collection offers limited-edition pieces that are only available until September. The collection features a myriad of designs with Jade, Onyx, Black, and Black and White Diamonds set in 18k White, Rose or Yellow Gold. Among the gorgeous pieces are the Bali, Princess Flower, Venetian Princess, and the Rock and Diamonds bracelet with their decidedly modern approach to jewelry design. n

LIBRA (Sept. 23-Oct. 22): Look inward. Consider what makes you happy. Take care of yourself. Put your emotional and physical health first. Refuse to let anyone bully you into something you want to do or use manipulative tactics to control you. HHH

SCORPIO (Oct. 23-Nov. 21): Some options will be better than others. Choose wisely, do your research and discover what will make you the happiest and proceed down that path. Consider if your peace of mind is worth more than financial profit. Romance is encouraged. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home, and surround yourself with supportive and reliable people. Too much of anything will be to your detriment. Trust in what you know is the truth and those who have never let you down. HH

CAPRICORN (Dec. 22-Jan. 19): Buying or selling your home or possessions, and making improvements that will give you a new lease on life are favored. Love and romance will bring you closer to someone you cherish. HHHHH

Supersizing an anniversary IT was a magical afternoon filled with enchanting musical shows and exciting games as loyal clients of Landers Superstore (www.landers.ph) were treated to the shopping destination’s third anniversary celebration held at Arcovia City, Pasig. Dubbed the Super Anniversary Show, the soiree kicked off with Stories from a Suitcase, an amazing musical presentation where kids got to sing and dance along to popular fairy-tale tunes. Adults also joined in on the fun as they participated in Landers Minute Games, a Minute-To-Win-It-inspired segment hosted by Nico Bolzico. The event capped off with another musical show by Clowning Around, followed by a short meet-andgreet with well-loved fairy-tale characters.

CANCER (June 21-July 22): Now is the time to make your move. Be creative, and you’ll find solutions that will lead to precisely what you want to happen. Doing something with friends or relatives should be scheduled. HHHH

AQUARIUS (Jan. 20-Feb. 18): Make a change because it’s something you want to do, not because someone is forcing it on you. Stand up for your rights, and take care of your physical, emotional and financial well-being. HHH

PISCES (Feb. 19-March 20): You can accomplish more if you work alongside like-minded people to bring about positive change. Improving how you handle money will prompt you to save for something unique. Romance and commitment will bring you closer to someone you love. HHH STORIES from a Suitcase’s Jaime Constantino and Joelle Yuvienco

NICO BOLZICO and Landers Superstore Marketing Director Pinky Angodung

BIRTHDAY BABY: You are efficient, practical and resilient. You are focused and informative.

‘Internet trading’ BY MARK MCCLAIN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Littleneck mollusk 5 “Body Party” vocalist 10 Virtually closed 14 Inflated publicity 15 Venomous viper 16 Genre related to soul and R&B 17 Sports-Center channel 18 Rocketman instrument 19 2012 Ben Affleck thriller 20 Recollection of a weak poker hand? 23 What some sloths do for 20 hours a day 24 Spot in Congress 25 Stubbed digit 28 Truth alternative 31 Infield covers 33 Anatomical pouch 36 Successful freelance writer’s drawerful? 40 Illegally off base, for short 42 Shrine to “remember” 43 ___ Zor-El (Supergirl) 44 Security hardware at Dracula’s castle? 47 Produce, as an egg

8 Faucet repair gasket 4 49 Narrow valley 51 Kind of room or center 52 Diamond Head locale 56 Apres-ski setting 60 People who prefer to do crosswords on their computers? 64 Shrunken Asian sea 66 Apt fabric for a chair cover? 67 Law & Order: SVU star 68 “Horrors!” 69 Like a ewe 70 One of Canada’s First Nations 71 2000s TV show set on an island 72 Secret looks 73 Bronte’s Jane DOWN 1 Culinary VIPs 2 Disinfectant brand 3 Pie fruit 4 Patched up 5 ___ Crunch 6 “Gotcha, man!” 7 First White House occupant 8 Zellweger in movies 9 Donut shop allure

0 In the distance 1 11 Event for some litigants 12 Taiwanese director Lee 13 Cimarron studio 21 Hoppy pints, briefly 22 Inflatable pilot in Airplane! 26 “Rigoletto,” for one 27 Common App component 29 Loud crowd sound 30 French fashion magazine 32 Biblical craft 33 Take pleasure in 34 In the loop 35 Bad choice for a master’s thesis font 37 Small amount 38 Urban blanket 39 Cost to cross 41 Clinic pro 45 Frankenstein’s helper 46 Swiss folk hero William 50 Beginner 53 Ancient fabulist 54 Hurl 55 Set free 57 Condemn 58 Germaine who wrote The Female

Eunuch 9 Lauder of note 5 61 Coagulate 62 Approach the bottom 63 Tip jar fillers 64 Classic ISP...or, with = properly placed, this puzzle’s theme 65 P, to Persephone Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, August 30, 2019

In defense of homework SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

S a high-school student in the venerable Saint Theresa’s College, I have very vivid memories of being seated on the floor in the family living room, doing my algebra homework. Papa and Big Sis were usually seated nearby and, on occasion, would try to help me out. But they had different ways of answering the algebraic problems, which I assumed were not correct since teacher showed us another formula, which led us to grand discussions and differences of opinions. Of course, they eventually gave up on me. But, hey, no one can say this wasn’t quality time spent with family members. (Hahaha!) So Mama got me a tutor, Miss H, who also happened to be a math teacher in my school. I shared her expertise with best friend N, who studied with me at home. Miss H would help us work on our algebra assignments, which I suppose was effective enough as I passed the class. I also have retained enough from those lessons to pass college algebra and later, as a reporter, solve simple problems which crop up sometimes in the course of writing about economic data. Which is the only time I ever used algebra, since I long dropped my plans of being a theoretical physicist. Insert eye roll here. I don’t know if anyone in my generation missed spending “quality time” with our respective families because of homework. This was an era when we would lug all our notebooks in or bags with rollers underneath them, as well as a book or three which we may need to do our assignments. In elementary, we had no lockers to keep these heavy things at school. At the Arnaldo household at least, we were taught to finish our assignments before watching TV. Then we would take our dinner with the entire family, where we would discuss events of the day. When it came to weekends, either I worked on my assignments for Monday classes on Fridays, or in high school, like any teenager living on the edge, cram and go through and finish the homework on Sundays. Still, I managed to tag along with my parents to Quad (that’s Glorietta to you kids today) in Makati on Saturdays for a bit of window shopping, have a churros con chocolate merienda at La Cibeles around the corner, or Sunday lunch at Papa’s favorite restaurant after Mass. Because there were no cell phones then, we would actually talk to each other. So we would have more than enough quality family time together. This is why I find it difficult to be serious about the proposed measures to eliminate homework from the lives of school kids. “Homework assignments can deprive students and parents precious quality time

HOW TO BE A PICTURE-PERFECT BRIDE

IT’S your wedding day and all eyes will be on you. As the bride, you’re undoubtedly aiming for a healthy glow and a picture-perfect makeup that will last throughout the whole occasion. Popular cosmetics brand Ever Bilena (www. everbilena.com.ph) shares easy-to-do tips to ensure you’re flawless on your big day: n GET YOUR BEAUTY SLEEP. Getting enough sleep prior to your wedding is a hundred percent necessary if you want flawless and healthy-looking skin. Practice the habit of having a proper seven to nine hours sleep at least months or weeks leading up to your big day. n PREP YOUR SKIN AND BROWS. Having clear skin is a good base for your makeup. Achieve healthy skin by drinking lots of water to keep it hydrated. Prep your skin by cleansing, toning and moisturizing. Don’t forget to apply sunscreen. You can also consider setting an appointment with your dermatologist for facial cleansing and the salon for your brow grooming. n USE LONG-WEARING, WATERPROOF MAKEUP PRODUCTS. Wedding days can get very emotional. As a bride, the last thing you want are tear-stained cheeks and smudged makeup. To ensure that your makeup stays in place the whole day, use long-wearing and waterproof products, such as Ever Bilena’s All Day Liquid Foundation, EB Matte Long-Lasting Dip Liner for the eyes and EB Power Curl Mascara for your lashes. n ACCENTUATE YOUR FEATURES. Makeup should not overpower your features but instead accentuate it. Enhance your natural beauty by using light and neutral colors that can go from day to night, like the EB Ultimatte Eyeshadow Palette. Add dimension to your face with the EB Sculpt and Strobe Stick which is best for contouring and highlighting. Be the blushing bride that you are with the EB Matte BlushOn in Willow—a blush shade that’s not too pale or too dark. Last, complete your look with your choice of EB Matte Liquid Lipstick. n RELAX AND ENJOY. Planning your wedding can get pretty nerve-wracking. But remember to take a breather. Set up a spa appointment alone or with your friends. Let your team take care of all the small details and just enjoy one of the most important moments in your life.

for rest, relaxation and interaction after school hours and even on weekends,” said Rep. Evelina Escudero of Sorsogon in her bill’s explanatory note. I can only assume she is the spouse of the late Agriculture Secretary Salvador Escudero, and knowing him personally, he would probably have had a few choice words about this measure on the old Karambola had this bill been filed by someone else. Another bill, filed by Rep. Alfred Vargas of Quezon City, would ban teachers from assigning homework during the weekends, and proposes a fine of P50,000 and a prison term of two years for teachers who violate this. I am curious what kind of assignments their own children had brought home for them to think of these measures. I am not alone in my feelings about these bills. In a taxi cab the other day, the driver expressed incredulity about these legislative proposals. “Dapat nga may assignment ang mga bata, lalo na sa reading,” he said, after hearing the news of the measure on the radio while we were on our way to my destination. “Ano ’yan, pagdating sa bahay, walang assignment ’yung mga bata, so sa cell phone magbababad?” he continued. Manong driver then proceeded to discuss how the educational system today has bred kids who are tanga (his word, not mine) and can’t even read well. After that harangue, he tore down the ills of social media and how parents themselves were at fault for

giving their kids cell phones too early, even as they themselves were stuck on their phones [or tablets] instead of spending quality time with their children. “Hindi na ’yun kasalanan ng homework,” he averred. For sure, some schools and teachers overdo giving assignments to their students. My friend Bess recalls her nephews trying to accomplish a 50-page assignment in math from this prestigious elementary school in Quezon City. And it’s also true that in some homes, it’s the parents who do the assignments of their kids. Which I find truly shameful. If this is the kind of parenting kids these days get, it’s no wonder we have a generation of whiners and overprivileged teens constantly complaining when things don’t go their way. What I find amusing though is that I, who didn’t particularly relish doing homework as a child, am now defending the school tradition. But think about it. Homework is a way of reinforcing the day’s lessons on students. It also teaches kids how to accomplish work on their own and become independent thinkers. Most important, it teaches kids perseverance. Yes, it will probably chip into the “relaxation time” of children, but, hey, are we raising a nation of laidback revelers or super performer doers? Homework works. Why do lawmakers think they need to reinvent the wheel? n

Homework is a way of reinforcing the day’s lessons on students. It also teaches kids how to accomplish work on their own and become independent thinkers. Most important, it teaches kids perseverance.

Show BusinessMirror

Friday, August 30, 2019

McConaughey named professor at University of Texas AUSTIN, Texas—Oscar-winning actor Matthew McConaughey will join the University of Texas as a professor who, this fall, will teach in the university’s Department of Radio-Television-Film. McConaughey has been a visiting instructor at the flagship campus in Austin since 2015 and the university said in a statement Wednesday that the appointment recognizes his “outstanding work as a teacher and mentor.” He will continue teaching a Script to Screen film production class for which he developed the course curriculum. The university says McConaughey is respected for his “willingness to work with students beyond the classroom.” McConaughey earned a film degree from the school in 1993. He’s appeared in more than 50 films, including Dazed and Confused, The Wolf of Wall Street and Dallas Buyers Club, for which he won an Oscar and Golden Globe for his leading role. AP

GAVIN JAMES

Irish singer/songwriter Gavin James to perform in Manila for the first time GAVIN JAMES, the Irish singer/songwriter who has opened for the likes of Ed Sheeran in Dublin and Sam Smith in the United States, will be in Manila for his firstever visit to Asia for a show at the New Frontier Theater on October 4. James may not be a major superstar just yet but he just might steal your heart away. With a “spellbinding voice and a knack for stadium-sized hooks,” as one critic described him, Gavin’s music can easily get into your head and stay there. His current single “Always” has been described as a Coldplay-esque ballad that newfound fans simply adore. James says, “‘Always’ is all about loss for me. It was about ending a relationship last year and then immediately regretting it, so it’s a pretty apologetic tune. However, the song can have a lot of different meanings and I’m excited for people to listen to it and make their minds up themselves about what it means to them.” James has two albums under his belt so far, namely 2016’s Bitter Pill and last year’s Only Ticket Home, for which he is currently touring. “My first album [was something] I wrote over several years, as I had never put anything out before. It was a lot of sad songs,” James shares. “The new one has a lot more up-tempo songs.” Far from being Ireland’s best-kept secret these days, James’s fans include superstars, as well. For one, Sheeran did not only have James play Croke Park (the Irish equivalent of Wembley Stadium) with him in 2015; in 2014, the chart-topper gave James a shout-out on Twitter for his 10 million followers to read, calling out record labels that “if you ignore Gavin James, you are losing out.” James has also found a fan in talk show host James Corden (of “Carpool Karaoke” fame), when his appearance on The Late Show with James Corden left the host “blown away.” On Twitter, Corden also announced to his 10 million followers, “Sometimes a new artist comes along, and their voice and talent stop you in your tracks,” tagging James on the tweet. Perhaps, what could also break his fanbase wide open was when K-pop idol Jimin from BTS recently did a live video singing to James’s song “Nervous” that earned about 3 million views, and another 300,000-plus videos upon being reposted by James. The singer’s thank you tweet (“Cheers to all the BTS fans for the love) was met with positive response from members of the BTS Army, some of whom noted that they now “stan” the singer and also follow him and put his songs on their playlist. Find out what’s so special about Gavin James, and what his fans already know about him and his music when he plays for the first time in Asia with his Manila concert at the New Frontier Theater in Araneta Center on October 4. Tickets are available at www.ticketnet.com.ph.

www.businessmirror.com.ph

Leonardo DiCaprio meditates about stardom Continued from D1 “HE’S an amazing actor, so professional, and so easy to work with,” says DiCaprio of Brad Pitt, his costar in Once Upon a Time... In Hollywood, the newest film from director Quentin Tarantino. “...And Brad’s not only an amazing talent, but he’s such a professional on the set.”

our relationships, what we’ve been through together. And Brad’s not only an amazing talent, but he’s such a professional on the set that we just kind of fell into these roles. We kind of instinctively knew who these men were and what that relationship would be in Hollywood. You’ve worked with Quentin before. If you could single out one thing that you learned from him, what would it be? One thing? That’s hard. For me, he has the consistency that I’ve found in people that make good art in this industry. In particular, those directors are the ones that have an acute understanding and appreciation of film history, and Quentin not only understands the history of the classic cinema but the history of B-movies and pulp films that I’d never heard of, films that are a lost art form and that he has copies of. He knows about music that I’ve never heard of, television that I’ve never heard of, and the complete filmographies of actors that have sort of disappeared, historically. This film is an homage to all those that have maybe been forgotten, a tribute to those people during that time period who were struggling to be successful but did give their contributions nonetheless. The movie talks a lot about frustrated expectations. Is that something you still find yourself dealing with? When you’re an actor you play different characters—it doesn’t necessarily need to be your own life, your own experience. I mean, that’s a part of what we do as artists. Having said that, I felt completely connected with this character. I felt like I knew who this man was. I have a lot of friends who are actors, people who I grew up with, ever since I was 13. I know the struggles. And not only the struggles but the immense waves of insecurity that one might have, feeling like everything’s sort of falling apart. I don’t know why, but I immediately connected and understood what this person is personally going through. Do you ever worry that the clock is ticking on your own career? Look, it’s always going to be a roller-coaster ride. There’s going to be ebbs and flows in one’s career. It’s going to be better or worse but, look, I always saw this as a long-distance race, and I think Brad and I come from sort of the same generation, in that we got our break at the same time—I think we both know and appreciate it. We were given this one opportunity and we have to try to make the best of it, and work with the best people we possibly can. But you’ve been successful so far. What’s your secret? I’ve tried to make the best choices we possibly can. I think both Brad and I have tried to challenge ourselves. Look, I think movies are the greatest modern art form. I feel honored and privileged to be a part of it and, like I said before, I think Brad and I both came into this industry around the same time, and we know how difficult it is to get that one shot.

Both of us have tried our very best to make use of that opportunity and work on films that challenge us and are also great pieces of art. That’s the best we can do. What would you like audiences to take away from the film? I hope that we keep talking about the past conversations, about the transitions in Hollywood history—from the musical to the auteur director era, to the talkies from silent films, and now we’re in this very interesting transition today. We’ve made a film that, I think, harkens back to maybe a forgotten style of making movies, a style that is sort of dissipating right now. But there’s a new tech coming into play, there’s a new player in town. I think in a lot of ways the old studio system is becoming a fossil and there are new players in town. And we’re seeing a different format in the way movies or entertainment is done with these long series and, at the same time, there’s a lot of amazing documentaries. n Now in Philippine cinemas, Once Upon a Time...In Hollywood is distributed by Columbia Pictures.

“I’ve tried to make the best choices we possibly can. I think both Brad and I have tried to challenge ourselves. Look, I think movies are the greatest modern art form. I feel honored and privileged to be a part of it.”

Dingdong celebrates YesPinoy’s 10th anniversary GMA star and YesPinoy Foundation Inc. Chairman Dingdong Dantes celebrated YPF’s 10th anniversary together with some students, teachers and volunteers at Cubao Elementary School on August 21. Recently, Dingdong’s chaired organization YPF, in partnership with the Stunt Association of the Philippines and the Seoul Action School-Korea, convened together all stunt actors and directors in the country for a series of extensive trainings and seminars, titled Project #BeScene. The stunt action training activities concluded with a graduation ceremony and exhibition program for

the participants on July 21 at GMA Network Studio 4. The Amazing Earth host expressed his will to empower everyone in building a better tomorrow, “When we strive to be heroes by empowering not only ourselves but also our families, communities and others in need, we, especially the youth, help build a Super Nation.” Ten years ago, Dingdong put up YPF in the hopes of bridging resource gaps in education, and empowering the Filipino youth on environmental stewardship and responsible citizenship. “YPF started with our simple yearning to contribute and be of service to the country by educating, empowering

and engaging the Filipino youth. Through the years, we have witnessed how heroism uplifts lives and communities,” said Dantes during his speech. The whole-day event gathered the foundation’s family, friends and fellow advocates to pay tribute to its accomplishments that were made possible through passion, collaboration and volunteerism. At present, Dingdong has undergone military training as part of his preparations for the iconic role of “Big Boss” or Captain Lucas Manalo in GMA’s highly anticipated Philippine adaptation of the hit Korean drama series Descendants of the Sun.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, August 30, 2019 E1

THE VOLKSWAGEN SANTANA

THE GERMAN FACTOR

THE Santana borrows its good looks from its sibling Jetta.

Story & Photos by Patrick P. Tulfo

HE Santana is part of the new generation of Volkswagens that was released in the country last year. The new models are now sourced from China, which makes sense as it is nearer to us than Europe where the previous models came from. This brilliant move by Volkswagen (VW) Philippines has allowed it to sell their new models at a more competitive price thereby making it accessible to more buyers who wants to own one. But is it any good? Is it on a par, quality-wise with models that are manufactured from Germany as there are misconceptions about those models that came from China as being inferior to their European counterparts? These are the notions that VW wants to correct. The Santana replaces the Polo in the lineup of the German car manufacturer in the country. It goes up against the likes of Toyota Vios and Honda City to name a few in the hot subcompact segment.

Exterior

TESTED the top-of-the-line 1.5 180 MPI AT SE Blaupunkt four door sedan. Styling-wise, the Santana is a dead ringer for the discontinued Jetta which isn’t a bad thing as the Jetta was a good-looking sedan. Up front, the trademark VW design can be seen on the bold chrome grille with that famous VW logo located in the middle. This is flank by large headlights that provides great illumination at night. The fog lamps located under the bumper complete the classy look. The rear mimics the style of the bigger Jetta perfectly from the tail lamps down to the bumper. Volkswagen designers should be given a pat on the back for the minimalist design. In fact, one cannot tell the difference of the 1.5 to the 1.4 variant as only the Santana badge located on the lower right side, below the taillight can be seen. The nicely design alloy wheels complete the simple but very el-

egant look. The Santana is one of those cars that don’t need any more tweaking to improve it looks.

THE 1.5-liter, in-line four-cylinder engine is frugal even in traffic.

THE sunroof is a welcome addition for this model that is priced below 1 million pesos.

Interior

INSIDE, one is greeted with the familiar VW ergonomics where all the controls are sensibly located. Buyers who will upgrade to this model will immediately find themselves right at home, while new owners will only take a little time to familiarize themselves of the controls and switches. Unfortunately, hard plastic was used throughout the interior when most of its competitors have switch to the soft variety. Don’t fret though, as the hard plastic have a nice texture on them and doesn’t look cheap. The chrome strips on the door and the dash follows the elegant theme. The 7-inch Blaupunkt infotainment system features a navigation system, smartphone connectivity for calls and music, and amusingly, it still has a CD or compact disc slot. Its features can be controlled via the buttons on the steering wheel and it can connect with iPhone, android or even a windows phone. The compact cabin is quiet roomy inside. Tall passengers will not have any problem fitting inside as even the rear has plenty of legroom. I am happy to report that cup holders located on the door can accommodate large water bottles for those who like to bring one whenever they go out.

Engine and performance

POWER comes from a 1.5-liter, in line four-cylinder gasoline engine with multi-point fuel injection and Blue Motion technology that has a Euro 5 rating, and it pumps out 110 hp and 150 N-m of torque.

THUMBS UP n Packed of safetyfeatures n Quite frugal even when on sports mode n Elegant exterior n Spacious cabin n Good steering feedback

THUMBS DOWN n Ride is a bit firm n The use of hard plastic on the interior n Front compartment is small as well as

the one located in the middle

SPECIFICATIONS n Vehicle Volkswagen Santana 1.5 180

THE dashboard features the trademark VW ergonomics.

It’s mated to a six-speed automatic transmission that has economy and sports mode setting. I prefer the latter over the former as the economy mode seems to make the engine lethargic on get up and go situations. And even at on sports mode, it was able to deliver a decent 9/kms to a liter fuel economy in city driving thanks largely to the start and stop feature, which can be disabled if one finds it annoying. The electronic power steering de-

livered good feedback, but the ride is on the firm side as expected in the tradition of German made cars even when this one is made in China.

Safety and other features

THERE is a long laundry list of safety features for this variant that includes driver and passenger air bags, front side air bags, Isofix anchorage points for child seat, Electronic Stabilization program, anti-slip regulation (ASR), Antilock braking system (ABS) and rear

park distance control. There is also a sunroof, automatic headlights, a feature that I sorely miss from my old Chevrolet Orlando. The Santana, I dare say is even better than the model it replaced. It is packed of safety features and is surprisingly priced under a million pesos. And if you’re still not convinced, I would like to add that it still has that heavy one-piece seamless door construction that closes with a thud just like those previous models that I tested.

MPI AT SE Blaupunkt n Type subcompact 4-door sedan n Engine 1.5-liter, inline four-cylinder gasoline engine with multi-point injection and BlueMotion technology, Euro 5 standard n Maximum power 110 hp @ 6,000rpm n Maximum torque 150 N-m @ 4,000rpm n Transmission Six-speed automatic with economy and sports mode setting

DIMENSIONS n Overall length

4,475mm

n Overall width 1,706mm n Overall height

1,469mm 2,603mm n Wheel size 6J x 15” Alloy n Tire size 185/60R15 n Price as tested P929,000 n Wheelbase

Moto

Business

E2 Friday, August 30, 2019

HYUNDAI POSTS 2% GROWTH

HINO INTR

UPGRADED F H

YUNDAI Asia Resources Inc. (Hari), the official distributor of Hyundai vehicles in the Philippines, sold 19,790 units in the first seven months of 2019 equivalent to a 2-percent growth versus the 19,478 sold in the same period last year. The most preferred South Korean vehicle brand’s resilient performance for the year can be attributed to strong sales in major segments of its business, namely Light Commercial Vehicles (LCV) and Commercial Vehicles (CV). Its Passenger Car (PC) business continued to be fueled by its flagship Accent and the Reina, which was launched early this year. “This year has been challenging for the automotive industry but Hyundai’s modest growth reflects its resilience and strong brand anchored on reliable and comfortable vehicles, superior customer service, and continuing programs to ensure worryfree ownership,” Hari President and

CEO Ma. Fe Perez-Agudo said. “With key programs in the pipeline, we aim to end the year strong,” Agudo added. The LCV segment grew by 28 percent in the first seven months of 2019 to 8,645 units. The globally awarded Kona is now one of the best-selling SUVs in the market with sales increasing by 474 percent over the period to 2,455 units. The versatile H-100, which has numerous applications including cargo van, ambulance, modern jeepney, refrigerated van, dropside truck, and wing van remains the largest contributor to this segment with 3,860 in sales equivalent to a 64-percent growth year-to-date. Sales in the PC segment decreased by 15.4 percent to 10,565 year-todate July as the market continues to shift to crossovers and SUVs from midsized sedans. Despite this, the market remains strong for compact sedans as evidenced by sales of the

Reina and the Accent which accounted for more than half the sales of the company for the period totaling 10,189 units. The venerable Accent continues to be the company’s No. 1 selling vehicle due to its styling, power, and fuel efficiency in a compact package. The CV segment continues to be a key growth driver with sales growing by 140 percent in the first seven months of the year compared to the same period in 2018. CV sales hit 580 units driven by increased economic activity, especially from small to medium enterprises (SMEs). “We expect higher demand for Hyundai vehicles over the medium term as we see lower inflation and interest rates. While others are taking a wait-and-see position, we are pushing ahead with our expansion programs which include the opening of three new dealerships in central and northern Luzon over the next few months,” Agudo added.

Story & photos by Randy S. Peregrino

INO Motors Philippines (HMP), the exclusive distributor of Hino trucks and buses in the country, presented the upgraded FC9JL7A medium-duty truck model at the recently concluded Transport and Logistics Expo at the World Trade Center in Pasay City. The truck manufacturer is set to maximize the capacity of its products to meet the needs of drivers and customers, as well as keeping up with the growing demands of the transport and logistics industries.

Castrol launches MAGNATEC car engine oils

CASTROL executives formally launch the latest line of Castrol MAGNATEC lubricants with Dualock Technology

ASTROL Philippines recently launched its latest line of Castrol MAGNATEC lubricants with industry pioneering DUALOCK Technology. Castrol Philippines launched three new oils specifically designed for car engines. Available in the market today, are the 10W-40 grade, which is exclusive for gasoline engines; the 10W-50, which is recommended for diesel engines; and the 5W30, which is fully synthetic oil for both gasoline and diesel engines. “We recognize the current congested traffic conditions drivers go through every day, and we know that our vehicles’ engines are put under constant stress. Because of this, we are more than excited to finally introduce a reinvented Castrol MAGNATEC with breakthrough DUALOCK Technology. We have built on Castrol MAGNATEC’s success, and once again, introduce innovative

products that work best according to the diverse needs of our consumers. This is aligned with Castrol MAGNATEC’s promise of providing nonstop protection from every start,” said Maria Tañada, country manager, Castrol Philippines. Castrol MAGNATEC has been reinvented for the rapidly urbanized world, where traffic congestion is getting more severe and challenging for drivers, their engines and their engine oil. The average driver who is now experiencing more stop-start driving than before, can stop and start as many as 18,000 times in a year, and spend up to 33 percent of urban travel time, idling. Constant decelerating, idling, and accelerating, increases microscopic engine wear. A technological advancement resulting from 10 years of research and development by Castrol technologists and scientists from one of the

world’s leading universities, Castrol MAGNATEC’s breakthrough DUALOCK Technology brings forth a molecular innovation, in which a pair of protective molecules lock together to form a powerful shielding layer on engine components. This results in an impressive 50 percent reduction in wear and tear from engine warm-up and stop-start operation, even for vehicles with the latest stop-start engine technology. Castrol MAGNATEC has become one of the leading car engine oils, with more than 1 billion liters of oil sold in the past 20 years, making it among the most successful lubricants in the global market. With increasing issues of irreversible engine damage due to lack of knowledge of car oils, and traffic-induced stop-start wear, Castrol will continue to innovate, and educate car owners in the future.

BETTER interior trims and materials with added convenience features

THE newly-upgraded Hino FC9J medium-duty truck

“We have seen great developments in several sectors in the Philippines, including industries from transport and logistics. With the rising demand for efficiency and reliability that come alongside these improvements, we are confident that HMP’s products and commitment to Total Support will enable many businesses to not only meet their customers’ demands but to maintain a high level of satisfaction as well,” said HMP President Mitsuharu Tabata. Based under the Hino 500 truck series, the reengineered Hino FC9JL7A medium-duty truck is designed to deliver powerful driving performance, high durability, ergonomic comfort, good transport quality and flexible body-building capability. Noteworthy is the fresh cabin design with good trims and materials along with added convenience features which add to the good driving experience factor. Hino

HMP Business Planning Manager James Sangel (from Chairman Vicente T. Mills Jr., HMP President Mitsuha Tomohiro Oshita

recognizes the need to have comfort and convenience features for drivers. This, in turn, positively affects the productivity and safety of drivers in carrying out their daily tasks. “For example, this particular unit [Hino FC9JL7A] is already air-conditioned for the driver. Because the observation is, when the driver is comfortable, they take good of the unit and less accidents happen. This is statistically proven elsewhere and therefore unit is taken good care of and goods are being delivered on time,” HMP Chairman Vicente Mills Jr. explained. Propelling this newly upgraded truck is a J05E-TY 5.1-liter Euro 4-compliant four-cylinder turbodiesel with Direct Injection and Electronic Control Commonrail fuel injection system delivering 207 hp and 637 N-m of maximum torque. It is mated to a six-speed manual gearbox with overdrive and

The first EV to earn Top Safety Pick+ rating

UDI e-tron Quattro SUV is the first-ever pure battery electric vehicle (BEV) that earned the 2019 Insurance Institute for Highway Safety (IIHS) Top Safety Pick+ rating, the highest rating awarded by nonprofit organizations and funded by auto insurance companies in the USA. The ratings give buyers a way to directly compare the crashworthiness and safety features of different vehicles. The IIHS “Top Safety Pick+” is based on “Good” ratings—the highest rating given to the vehicle—in the six areas of crashworthiness performance: small front overlap collision evaluations on both the driver

and passenger sides; moderate front overlap; side impact; roof strength; head restraints and seat performance. Through IIHS’ evaluations, the e-tron body and structure excelled in safety performance, earning the top rating in all of the said areas. The standard Matrix Design LED headlights and standard automatic emergency braking helped the e-tron achieve the accolade. It comes standard with Audi pre sense basic, which can help prepare the vehicle for impact by partially closing the side windows and sunroof and pre-tensioning the front safety belts. Using a front-mounted camera, the e-tron can help initiate

braking at speeds of up to 87 km/h for detected pedestrians and bicyclists and can bring a vehicle to a full stop when traveling at speeds under 40 km/h. The full-size SUV, Audi e-tron, is the first full electric series-production model that is sporty and powerful, yet efficient and practical for everyday driving. This electric all-wheel drive is powered by two large lithium-ion battery with 95 kWh stored energy to provide a range of over 400 kilometers. With 561 N-m of torque, the two electric motors accelerate the electric SUV from zero to 100 km/h in 6.6 seconds—with no hesitation and virtually silent.

oring

sMirror

Friday, August 30, 2019

RODUCES

FC9J TRUCK

m left), HMP AVP for Sales Oliver de la Cruz, HMP aru Tabata and HMP AVP for Business Planning

synchromesh (2nd to 6th). Other significant upgrades done include a higher gradeability of 45.2 percent, as well as increased resume-accelerate (R/A) gear ratio of 4.88 from 4.33. Wheelbase was also increased to 4,990 mm. Even the alternator limit has been increased from 60 amperes to 90 amperes. Moreover, the fuel tank capacity has doubled from 100 liters to 200 liters for maximum volume. Safety-wise, the air over hydraulic brakes are enhanced with anti-lock braking system (ABS) for a safer driving experience. As for added convenience, air-conditioning system and power windows have been added. As the only one-stop shop for trucks and buses in the Philippines, HMP continues to deliver top-of-the-line, customizable commercial vehicles that enable its partners to fulfill logistics and transport demands from across different sectors.

Meanwhile, HMP also showcased its Hino Class 2 PUV with Centro Cabless body design during the threeday expo. This Class 2 PUV reflects Hino’s commitment to improve the local transportation system through the PUVM program. Hino’s vision of a more connected community includes a modernized system of transportation comprising of units that are environmentally safe, durable and comfortable for the Filipino commuters. Also showcased were other Hino trucks, including the Cerito class two and three. As the leading exhibition for delivery vehicles, trucks, transport system, materials handling logistics including supply-chain equipment, the Transport and Logistics Expo showcases the latest in transport and logistics solutions to connect manufacturers, as well as suppliers with more Filipinos.

PINOY TRANSPORT WATCH By George Royeca

Wheels of misfortune

HERE are 18 million motorcycles in our country, compared to only 3 million cars. Of those, 12 million are not registered with the LTO, and over 99 percent are owned by middleto low-income households. A 2018 SWS Survey showed that one in three households own a motorcycle, with most citing the vehicle as the family’s critical mode of daily transport and as many as 51 percent depending on it for their livelihoods. Where many of us more privileged own cars to get around, the truth is many of our countrymen carry their lives and families on top of two wheels: that is how dad brings the kids to school, the wife to work, and himself to his own job. As most households make less than P20,000 a month, a motorcycle costing only a P3,000 down payment and a monthly amortization of even less is the obvious choice. As the need for mobility has increased motorcycle sales have boomed, with nearly 1.6 million units sold just last 2018, and 1.7 million projected for 2019. But even as new brands and dealerships open across the country, almost no formal and professional training programs exist to educate these new owners on how to operate their machines on the roads. To date, there is only one motorcycle safety school in the country—the Honda Safety Driving Center, which can barely hold over a hundred students at a time. So many schools for car drivers exist, but no investments are made for motorcycles, even as they outnumber cars six to one. This lack of formal training, coupled with our country’s lax rules for motorcycle ownership—you don’t need to show a license to take the bike out of a dealership—has led to 53 percent of road accident deaths to be motorcycle-related, in large part due to causes that could have been prevented with a bit of education. According to the WHO, 90 percent of motorcycle-related deaths are due to simply not wearing a helmet, something many Filipinos take for granted from a lack of proper training. But can we really blame them when access to critical training and educational resources is so scarce, while the barriers to ownership are so low? When ownership of such vehicles is such a key necessity for

THE Philippines now has 18 million motorcycles on the road, 12 million of which are unregistered. The bigger problem—there is a serious lack of proper training for these motorcycle riders

their family’s well-being and economic mobility? Would it truly be fair to simply say “they should have known better”? Before opening my own eyes to this reality, I used to be quick to call reckless motorcyclists on the roads as kamote, implying with the namecalling their own irresponsibility for how they conduct themselves. And while I make no excuses for these reckless drivers (there are after all many responsible motorcyclists out there), it helps no one to ignore the very broken system through which they came about. There is no easy fix to this of course. You cannot simply educate 18 million motorcycle owners overnight, and you certainly cannot change the horrible road culture we have here (car drivers included) just like that, but we need to try. Until recently, I myself had been living oblivious to the plight of our countrymen, and was content with ignoring them from the comfort of my car. With the increasing problem of urban congestion in recent years and of the corresponding rise in ride-hailing, e-commerce, and food-delivery platforms, such as Angkas, Food Panda, Grab Food, Lalamove, Lazada, and Shopee, there is a growing appreciation among Filipinos of how fundamental motorcycles have become to our daily lives. Where they used to only be transport for the poor (and the toys of a rare few hobbyists), motorcycles are more and more being recognized as an important driver of all our lives. As I have personally gotten involved in the operations of Angkas, I have come to work with tens of thousands of bikers, and have realized how limited my perspective has been. To ensure the safety of our passengers, we at Angkas have worked tirelessly to ensure that all the bik-

ers applying to join us—even those we eventually reject—get free and ample training and professional instruction from some of the best teachers in the country. In this way, we can ensure a better riding experience for those booking Angkas rides, and if nothing else, our safety record of 99.997 percent (or a 0.003-percent accident rate) is proof that a little professional help can go a long way. Having worked closely with the government on this, we have successfully trained over 100,000 bikers across many cities in the country, and working with them to further expand such education in government-run programs, so more Filipinos can benefit, even those not involved with Angkas. While motorcycle safety naturally aligns with the business interests of a company like Angkas, it holds true for every other motorcycle-driven enterprise. For food delivery and e-commerce companies for example, improperly trained drivers also result in the loss and destruction of property, and while perhaps rarer, can also involve injury and death to pedestrians and other road users. And even where no such direct damage may be done, seeing your brand’s bikers zip by in the streets recklessly is never a good image. If more companies can take a page from this, I am confident, that with the increasing awareness of the need for biker safety training, the government in conjunction with the private sector can put more effort into introducing new measures to increase motorcycle safety on the road by emphasizing biker education above all other motorcycle-related policies. So yes, while the system is indeed broken, I am hopeful that little by little, we can headway to ensure our roads motorcycles are safer for everyone.

Volvo launches Safe Roads program V OLVO Philippines strengthens its advocacy for road safety as it launches the Safe Roads by Volvo program. By partnering with schools, Volvo PH aims to raise road safety awareness especially among schoolchildren, their parents or guardians, and other people in and around school premises. Volvo PH has been an active advocate for road safety over the years, spearheading road-safety projects that aim to educate and inform people about safety on the road. Aside from its regular news updates to its clients and the general public, Volvo PH has set a benchmark in malls where road-safety signs and information were shared through huge pillar decals and murals. This time, through the Safe Roads by Volvo project, Volvo PH will collaborate with academic institutions and put up multiple visible road and traffic signs around the area. The program will start with schools around Metro Manila with MGC New Life Christian Academy as their first partner in the academic circles.

Volvo Vision 2020

SINCE its inception in 1927, Volvo has invented some of the world’s

most important breakthroughs in car and road safety. There’s the threepoint safety belt, a Volvo invention that has saved over a million lives since. It didn’t stop there. Volvo’s thinking wheels keeps on turning and churning out innovations that make life on the road safer, cleaner, more efficient and more enjoyable. That is why Volvo’s bold Vision

2020 is born. One of the most ambitious safety visions in the automotive industry, Vision 2020 aims that no one should be killed or seriously injured in a new Volvo by year 2020. This is where the Safe Roads by Volvo program is rooted, to continue its efforts in informing and educating the public about safety on the road.

Motoring BusinessMirror

E4 Friday, August 30, 2019

Editor: Tet Andolong

All-new Grandia: Comfort, convenience and durability—Suzuki Or am I just being petty, if not overconnected already?

Suzuki speech

HE new Super Grandia is Toyota’s perfect gift to its loyal customers as a family van. It is spacious enough to even accommodate a whole barangay, in a manner of speaking. It is called all-new because it has a new six-speed AT, 2.8L 1GD-FTV diesel engine, coil-spring rear suspension/rear ventilated disc brakes, variable power steering—and many more. Priced from P2.3 million, it should be a good buy anytime. Even before its media launch last week, the Grandia had received advance orders from all over. Already, sales prediction for the unit starting this September has been pegged at 400. “The market has been steadily going up since last year’s slump,” said Jing Atienza, the Toyota Motor Philippines (TMP) senior vice

president. “We hope to realize a big rebound in the industry as a whole by year-end even as vehicle movement gets better as predicted.” One of the all-new Grandia’s many new features that I particularly like is its featured “Individual Charging Ports.” Meaning it is cell phone-friendly. Eradicated therefore is the perennial problem of where to plug our mobiles when we are aboard.

IN possibly his shortest speech in recent memory, Satoru Suzuki, the president of TMP, did some breast-beating during the launch of Toyota’s newest wonder, the allnew Toyota Hiace known famously as the Super Grandia. He called the super van as “the symbol of comfort” for every Filipino family. Listen: “To our friends in the media, a pleasant afternoon! “I would like to thank everyone of you for coming here today to be part of another milestone for Toyota Motor Philippines. “Just last February, all eyes were on the Philippines as we hosted the world premiere of the all-new Toyota Hiace. It was a great honor and privilege for us to unveil to the global audience the all-new GL Grandia Tourer, GL Grandia and Commuter Deluxe—all part of the Hiace’s first full model change after 15 long years. “With the Philippines as the debut country for the sixth-generation all-new Hiace, and being recognized as the biggest Hiace market in the world outside of Japan, the country truly has earned its place in Hiace history. Today, we continue our Hiace story by adding another powerhouse mover to our formidable lineup. “We are proud to introduce to you the all-new Toyota Hiace Super Grandia.

We are pleased by the excellent reception that this model has been receiving based on its striking looks and commanding presence, but later on during the presentation, you’ll discover how the Super Grandia is so much more—with its comfortable space, luxurious features and advanced safety innovations. “We expect the Super Grandia to further elevate the Hiace which currently has a 54.6-percent share in its segment, year-to-date as of July. “Numbers aside, it is humbling to hear stories of this well-loved vehicle being a vital part in the lives of Filipinos. “The Hiace has become the symbol of comfort, convenience, and durability, and has indeed proven its reliability as the utility van which best caters to the needs of Filipinos both for personal and business endeavors. “And now, we are taking it a notch higher, sharing the joys of driving and riding a Toyota with a higher level of luxury. Experience ever better cars and ever better lives with the all-new Super Grandia. “Thank you very much once again for joining us today.”

Car boom bugs Bhutan

BHUTAN is a small country near Nepal famed for valuing its Gross National Happiness. But its being a virtual carbon-negative country may soon disappear due to booming car sales there. The world-famed good humor of the Bhutanese has also started to thin out amid

growing traffic snarls. An AFP report said there is now one car for every seven people in Bhutan, whose population is only 750,000. Roads have remained narrow and remedies aren’t in sight. Drivers lack etiquette, many of them leaving their cars parked in the middle of the road. AFP quotes a taxi driver: “Cars and people are increasing every year but the roads have remained the same. It’s a problem.” Indeed, traffic has virtually become a worldwide plague. The cure? Infrastructure. Plus a mass transport system.

PEE STOP

Friendships renewed make us love life all the more. That’s what we reaped anew last week when we played a round at Manila Golf Club. With George Blaylock, the enduring gentleman-owner of durable Diamond Motors, as host, our foursome of George, Ferdie RaquelSantos, Klink Ang and myself had more than a day of fun and soul uplift. Indeed, golf is more than just a game as it helps sustain and nourish bonds, especially those in dormancy. Thank you once again for friends like you, George. Because of you, I got to see Art Balmadrid and Jon Fernandez again. Likewise, I got reconnected with Jimmy Panganiban, the jolly fella with the ubiquitous ponytail. May your tribe increase, George…. Thank you for the huge help from Volvo’s Atty. Albert Arcilla and Nissan’s Dax Avenido. They just made a dear friend of mine floating in bliss once more in Cloud 9. Cheers guys!

CST INTRODUCES NEW TIRES C

Story & photos by Randy S. Peregrino

HENG Shin Tire (CST), the eighth-largest tire manufacturer in the world, has just expanded its market reach and product line in the Philippines. Part of this expansion was the recent introduction of its new tires to cater the daily driven, high-performance, and off-road vehicles. These are the MarquisMR61, Medallion-MD-A1, and Parkour-PK01,

for the passenger vehicles, as well as the Sahara-AT II and Sahara-MT II for the 4x4 utility vehicles. “Innovation is at the heart of CST. We are always on the lookout for new developments and changes in the country’s usage conditions to improve the products and service we offer to the market. This new set of tires is just the beginning of our plan for the Philippine market, especially now that the demand for high-quality tires continue to

MEDALLION-MD-A1

PARKOUR-PK01

rise,” said CST Tires Director of Sales and Business Development Jaybee Atanacio.

Marquis-MR61 and Medallion-MD-A1

DESIGNED for daily driven cars, these tires offer speed, stability and stronger traction for comfortable and safe ride. The Marquis-MR61 is your everyday road partner, ensuring a quiet ride experience with improved handling performance. It boasts enhanced durability and lower rolling resistance without losing any traction and mileage performance. The Medallion-MD-A1, meantime, is the perfect choice for steady handling and longer tread life. It gives drivers braking and steering confidence

SAHARA-AT II

with its high stiffness rib design.

Parkour-PK01

WHEN it comes to high-performance cars, enthusiasts will find this CST’s latest sports tires a reliable partner. Just like the name, the Parkour-PK01 is a versatile tire, which offers extreme performance in handling ability on both wet and dry situations. This highspeed tire coupled with an optimized tread pattern design also guarantees comfort in every ride.

Sahara-AT II and Sahara-MT II

THE CST tire brand is also targeting to be a viable option for utility vehicles in the country. The Sahara-AT II is de-

SAHARA-MT II

signed for long drives and heavy loads plus optimum off-road performance. It features a reduced tread pattern void ratio, square profile design, flat contact patch and serrated edges. Now for the extreme off-roading, there’s the SaharaMT II. This tire boasts improved mud dispersal, maximized sidewall traction and high puncture resistance. Moreover, it is equipped with an innovative sidewall armor and an advance 3D tread design that ensure a durable ride on and off the road. Its heat dissipation technology, on the other hand, minimizes temperatures at high speed while slowing down rubber compound aging. www.csttires.com.ph.

Impenetra bulletproof vehicle now available at Nissan Westgate

ISSAN Westgate is now offering for sale a brandnew Nissan Navara with Level BR4 Lightweight armoring. Level BR4 protection means that the vehicle is resistant to shots from any handguns, including 38 Calibre, 45 Calibre, 9mm, Magnum 357, and the strongest of all pistols, the 44 Magnum. The armored Navara was turned over for display at the Nissan Westgate showroom last August 23, 2019. Impenetra President Paulo Villarta officially handed over the vehicle to Lica Auto Group’s Senior Vice President and Chief Operating Officer Doroteo R. Sornet, and Tetra Sales and Services Vice President for Operations Atty. Ronald R. Olit. The bulletproof Navara is now offered for sale at P2.999 million (VAT inclusive) at the Nissan Westgate showroom. The good news is, customers can purchase the armored Navara through bank or inhouse financing. This is just the first of the long-term plan of Impenetra to place on car dealership floors throughout the Philippines ready to use bulletproof vehicles. This is a preferred option by many interested buyers since they need not to wait three months to armor their vehicles. Impenetra has now forged agreements with various car dealerships all over the Philippines and will be supplying each one of them with bulletproof vehicles. These vehicles will have either Level BR4 or Level BR6 armor protection. Level BR6 protection makes the

vehicle resistant not only from handguns but also assault rifles, including AK-47, M14 and M16. In line with its plan, on September 6, 2019, Toyota San Fernando will launch the bulletproof Toyota Fortuner with Level BR4 armoring, also done by Impenetra. The armored Fortuner will be placed for sale on the Toyota San Fernando showroom. Financing is

likewise available. Soon to have ready to use Impenetra bulletproof vehicles on their showrooms are Mitsubishi Pampanga—Laus Group, Toyota Mabolo Cebu, Toyota Davao City, Nissan Davao City, and many more. Those interested may call 0920-9101111 or 0917-6363824 for details.