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FILIPINA WARRIORS IN ACTION

Wednesday, December 4, 2019 Vol. 15 No. 55

Congress leaders: ’20 budget bill OK next wk C

By Jovee Marie N. dela Cruz @joveemarie & Butch Fernandez @butchfBM

ONGRESS leaders have moved to avert the prospect of the government operating under a reenacted 2019 budget by January should lawmakers miss a deadline to ratify and submit to Malacañang for signing into law the final reconciled version of the P4.1-trillion 2020 budget bill before they adjourn for the Christmas recess on December 20. “I do not expect hitches,” Senate President Vicente Sotto III told the BusinessMirror, adding he expects the annual money measure to be “ratified by next week.” This, as Senate Minority Leader Franklin Drilon disclosed Tuesday

that the Senate-House conference committee is on track to meet their deadline, forming a “small committee” to identify conflicting provisions in the two chambers’ versions that are likely to delay the process. “ T he bica m [t wo - c ha mber

conference committee] authorized Sen. [Juan Edgardo] Angara and Cong. [Isidro] Ungab to constitute a small committee to go over the conflicting versions,” said Drilon. “I have worked with Senator Angara and Congressman Ungab in the past

ExchangE rates ratES n PESO exchange

contingent

congresses. They are competent and reasonable legislators, and I am confident they can finish their task before we adjourn on December 20,” he added. A ngara, however, dec lined when asked to predict if the bicameral panel can meet the yearend deadline.

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0 @2019seagamesph

See “Budget,” A2

DA allots ₧250-M QRF for Tisoy-hit areas; Caap assesses airport damage

@alyasjah

See “DTI,” A2

as of december 3, 2019 | 12:30 p.m

Funds realigned in the House of Representatives to various government agencies, covering the sectors of infrastructure, agriculture, education and health care

By Elijah Felice E. Rosales

medal tally

₧9.5B

DTI weighs risks, gains of induction furnace HE Department of Trade and Industry (DTI) is assessing the risks and benefits of the use of induction furnace for steelmaking, as it tries to come up with tighter regulations for manufacturing steel. The Philippine Induction Smelting Industry Association (Pisia) in November presented before the DTI the advantages of employing induction for steelmaking, particularly on performance, power consumption, production cost, environmental protection, as well as pollution control. Pisia President Benjamin Co

P25.00 nationwide | 5 sections 32 pages |

Children gather by the seawall as strong waves brought by Typhoon Tisoy (international code name Kammuri) surge along the coastline in Legazpi City in Albay, on Tuesday, December 3, 2019. Typhoon Tisoy brought heavy rains and strong winds as it made its first landfall on Monday evening in Sorsogon province. See related story on page A5. BASILIO SEPE/GREENPEACE SOUTHEAST ASIA- PHILIPPINES

HE Department of Agriculture (DA) said on Tuesday the government has alloted a P250-million quick response fund (QRF) for areas affected by Typhoon Tisoy (international code name Kammuri). This, as aviation authorities started assessing the damage to airports and shut down the premier gateway in Metro Manila for 12 hours as a safety measure. Besides airports, courts and schools were shut in the National Capital Region, which, like other parts of southern Luzon, hunkered down for the typhoon’s strong, damaging winds and torrential rains. See related story on page A5. As of 12 noon on Tuesday, the DA

said a seed reserve of 104,984 bags of rice seeds; 10,811 bags of corn seeds; and 2,179 kilograms of vegetable seeds from Regions, 1 2, 3, 4A, 4B, 5, 6, 7 and 8 are also available for distribution to affected farmers. The Agricultural Credit Policy Council (ACPC) also has P65 million in available funds under the Survival Recovery (SURE) Program. The Philippine Crop Insurance Corp. (PCIC) has funds to pay for the losses to be incurred and will fast-track the processing of crop insurance of farmers affected by the typhoon, the DA said. With more regions placed under storm signals, the DA said rice areas at risk as of 12 noon of Tuesday See “Airport damage,” A4

US 50.7580 hK 6.5013 6.4845 n CHINA chIna 7.2280 7.2181 n SIngaPOrE 1391 n 50.8920 n jaPan japan 0.4635 0.4671 n UK 65.5387 65.9102 n HK singapore 37. 37.2535 n aUStralIa australia 34.3682 34.7338 n n EU EU 55.9607 56.4138 n n SaUDI SAUDI arabIa arabia 13.5376 13.5719 Source: Source:BSP BSP(2(3December December2019 2019))

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BusinessMirror

A2 Wednesday, December 4, 2019

PHL firms’ outlook: fewer new hires, pay hike for staff

By Cai U. Ordinario

@caiordinario

HILIPPINE companies are expected to see a drop in new hires and an increase in pay for their existing employees next year, according to Mercer Total Remuneration Surveys (TRS). Based on the TRS, Mercer said 45 percent of companies are keen on hiring in 2020, lower than the 50 percent in 2019. However, the TRS results showed that salary increase is forecast to grow to 6 percent in 2020, from 5.5 percent in 2019. “Given the stabilizing voluntary turnover rate, the focus of most organizations is turning to upskilling and retaining key talent. However, 66 percent of companies in the Philippines don’t have a formal retention policy in place,” Mercer said in a statement. Mercer sa id t he consumer goods, energy and high-tech industries are predicted to have the highest salary increases at 6 percent. The inflation rate, the TRS results showed, is projected to drop to 3.3 percent in 2020 from 3.8

percent in 2019. The TRS results also showed that across industries, the voluntary attrition rate is at 6.2 percent in the first half of 2019. However, the logistics industry in the Philippines has the highest involuntary turnover rate at 7.1 percent for the second quarter. In 2018, the full-year attrition rate stood at 10.9 percent with the SSO (Shared Services and Outsourcing) industry having the highest voluntary turnover rate of 14.6 percent with the average years of service at three years. “The top reasons cited for employees leaving their organization in Asia varies by age group and gender. The top 3 reasons for employees leaving their organization are competitive pay, manager interaction, and a lack of clear career path and job security,” Mercer said.

Budget. . .

Continued from A1

In a text message to BusinessMirror, Angara admitted: “It’s hard to say ahead of time. We are really trying to pass it before the congressional break, knowing what happened with the 2019 budget. Whatever differences may arise both panels realize the need for a timely passage of the budget.” Ungab, the House Committee on Appropriations chairman, said members of the House and Senate Bicameral Conference Committee will be working this week despite the inclement weather to settle discrepancies in the two chambers’ different versions of the budget bill, including their institutional amendments or realignments. “The House Appropriations Secretariat just finished studying [Monday] the figures in the Senate’s GAB [general appropriations bill] as approved on final reading. I presented these findings to the House Bicameral Conference Committee Panel and will proceed to discuss the details with my senate counterpart, Senator Angara. Both chairmen will still have to go through the details and we still have to agree on the contentious figures,” Ungab explained. “Nevertheless, both panels agree on the need to pass and approve the national budget before the Christmas break [on December 18],” he said. Meanwhile, a source from the House said the bicameral conference committee is eyeing to finish and approve the budget this week for the two chambers’ ratification on Monday next week. Congress is eyeing to submit the 2020 national budget to President Duterte on December 20. Earlier, House Committee on Ways and Means Chairman Joey Sarte Salceda said the senators have realigned P135 billion under the 2020 budget. He said the P135 billion has been realigned to the unprogrammed projects of the government. The Department of Budget and Man-

Gen Z

Meanwhile, as Gen Z starts working in 2020, Mercer said companies are also reviewing employee benefits. Floriza Molon, career business leader, Mercer Philippines, said as much as 55 percent of Filipino companies are already reviewing or changing their benefits package. This includes the 43 percent who are considering to increase budgets for employee salaries and the 21 percent who are increasing budgets for employee benefits. “While the country’s population is young with a median age of 24 years, workplaces are increasingly becoming multigenerational, as Generation Z steps into their first jobs and joins millennials, Gen X and Baby Boomers at work,” Molon said. “At the same time, the rise of the gig economy is growing demand for flexible work arrangements. These emerging realities challenge companies to have more compelling and differentiated value propositions, increase pay transparency, and rethink pay for performance, so they can attract, retain, and manage talent,” she added. Apart from the packages, companies are also adjusting to the role changes driven by automation and artificial intelligence. Mercer said companies are offering a wider variety of incentives and

agment said the national budget provides for standby appropriation under unprogrammed funds that will supposedly give the government some allowance to undertake proactive measures in urgent situations. However, this was not detailed in the Palace’s National Expenditure Program (NEP).

Realignments for 4 sectors

In the House of Representatives, P9.5 billion in funds were realigned to various government agencies, covering the sectors of infrastructure, agriculture, education and health care. At least P3.5 billion was allocated through the Department of Agriculture (DA) to enable it to buy more palay from farmers amid the plummeting farm-gate prices in certain parts of the country and to set up a quick-response fund. The institutional amendments also included P800 million to the Department of Education (DepEd) for the operation of schools from Kinder to Grade 12, and establishment of model day-care centers nationwide. The Philippine General Hospital (PGH) also got P500 million as part of the realignments, while the Dangerous Drugs Board (DDB) received P250 million for the maintenance and other operating expenses of community-based rehabilitation centers. The other beneficiaries of the amendments were: the Department of Health (DOH) to augment funds for the National Center for Mental Health (NCMH) in the amount of P100 million and another P100 million for a quick-response fund; the Philippine National Police (PNP) and the Armed Forces of the Philippines (AFP) which received P1 billion each to set up their respective camp development funds; and Department of Environment and Natural Resources (DENR), P500 million for its National Resource Conservation and Development-Protected Areas and Development Management Program (NRCDPADMP). The Department of Transportation (DOTr), P274.95 million for the operating expenses of the Davao International Airport (DAI); National Electrification Administration (NEA), P500 million for its sitio electrification program; Metropolitan Manila Development Authority (MMDA), P500 million for the special allowances of traffic enforcers and field personnel, and salary increases of 4,000 job order personnel; and the Philippine Sports Commission (PSC), P500 million, for the preparation and training of athletes for 2020 Olympic Games and 10th Asean Para Games.

DTI. . .

differentiating rewards for high performers. Investments in rewards, Mercer said, should reflect a company’s strategic focus in order to align with business objectives. “As the pace of change accelerates and we enter into this new world of work, companies should rethink how they can be future fit by putting their people at the heart of the change,” Puneet Swani, senior partner and career business leader for the International Region at Mercer said. “Whether embracing digitalization, building competencies and skills needed for future competitive advantage or creating the right work environment and culture, changing the way organizations invest in their employees will yield a greater return for the business far into the future,” Swani added. The TRS is Mercer’s flagship annual compensation and benefits benchmarking study that identifies key remuneration trends and predicts hiring and salary increase. This year the total number of companies participating in this survey across various industries in Philippines increased to 433. Mercer also conducts regular pulse surveys throughout the year to keep up with the impact of the rapidly changing business environment and compensation and work force trends.

Continued from A1

claimed the equipment was not prohibited in China as reported widely in the media, but said several induction furnace facilities were closed down on overcapacity and in violation of state regulations. Further, Co said it is impossible for Chinese induction furnaces to be transported to the Philippines, as they are incompatible with the country’s existing energy infrastructure. He said Philippine power lines require 60 hertz of frequency, higher than the 50 hertz of frequency required in China power lines. Trade Undersecretary Ruth B. Castelo, for her part, said what Pisia presented will be “crucial” in the final policy being formulated by the government on the use of induction furnace for steelmaking. “The presentation of the Pisia about induction furnace is highly appreciated by the DTI for this will be part of the technical papers that will be studied and validated by the agency in aid of decision making and policy formulation relative to the induction furnace technology,” Castelo said in a statement on Tuesday. “The department, as with all industries, is committed in studying the steelmaking industry, including all technologies at hand,” she added. Philippine Iron and Steel Institute (Pisi) President Roberto M. Cola said in a text message to reporters the DTI should listen to his group’s appeal for a blanket ban on the use of induction for steelmaking. As earlier reported in a BusinessMirror special report, Cola said the induction process is a “hit-or-miss mechanism” that has no refining process to remove impurities. As such, its output steel is inconsistent in terms of quality and could pose harm to users (See “House of Cards: Substandard steel finds way into PHL construction sector,” in the BusinessMirror, November 14, 2019). “The DTI would need to monitor closely induction furnace products both in their plants, as well as the market, since this is a hit-or-miss technology for construction steel production,” he said. “The DENR [Department of Environment and Natural Resources] should also monitor induction furnace operations closely since they are highly polluting. We should learn and follow what China did to their induction furnace problem: ban!” Cola added. The Chinese government in 2017 imposed a nationwide ban on the use of induction furnace for steelmaking, which regional steelmakers said resulted in the transfer of the equipment to Southeast Asian economies.

Seed park. . .

Continued from A8

The project will be supported by the Bureau of Plant Industry (BPI), National Seed Industry Council (NSIC), and the Philippine Seed Industry Association Inc. The agriculture secretary said the establishment of a national seed technology park is part of the DA’s initiative to develop the farm sector, particularly the crops subsector. The crops subsector has been buoying the country’s farm sector in recent years. In the third quarter, it accounted for nearly half of agricultural output in the third quarter, according to data from the Philippine Statistics Authority (PSA). In its latest report, the PSA said the crops subsector accounted for 45.19 percent of total agricultural output and grew by an annualized rate of 2.01 percent in July to September. Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

New Chinese envoy waxes ecstatic over PHL-China relations By Recto Mercene @rectomercene

NDER the leadership of President Duterte and Chinese President Xi Jinping, Manila and Beijing became good neighbors, “ blessed w ith the time-honored tradition of friendship deeply rooted among the two peoples.” This is now newly arrived Ambassador Huang Xilian describes the current relations between the Philippines and China, Asian neighbors with centuries-old encounters that have found a new boost under the Duterte administration despite continuing disputes in the South China Sea. “China-Philippines relations have gone through a trilogy of turnaround, consolidation and elevation in the past three years, ushering in a fresh Golden Age for the two countries,” Huang said, following his arrival past Tuesday midnight at the Ninoy Aquino International Airport Terminal 3 (Naia 3). On hand to welcome the seasoned diplomat were protocol officials from the Department of Foreign Affairs (DFA) and representatives of the Chinese community in the Philippines. “Now the Philippines is China’s important partner in jointly building the Belt and Road, and China stands as the Philippines’s top trading partner, the largest source of imports, the third-largest export market and the second-largest tourist origin.” He said the growth of ChinaPhilippines relations, embodying common wishes of their peoples, “has been generating more and more tangible benefits for the people, and brought about a closer China-Philippines community of shared future.” “The best is yet to come,” Huang vowed, forecasting that 2020 is the conclusive year for China to complete building a moderately prosperous society “in all respects and achieve the first centenary goal, and also marks the 45th anniversary of establishment of China-

MWSS. . .

Continued from A8

In going through arbitral proceedings, Manila Water cited details of its concession agreement which carried a provision that pushes the government to “indemnify” the utility firm against any loss that could result from the regulator’s actions. As the regulator, the MWSS approves or rejects petitions for water rate adjustments. Guevarra said the DOJ also found irregular the extension of these contracts all the way to 2037, considering that the extension was granted 12 to 13 years before the original expiration of the 25-year concession agreements in 2022. The DOJ chief explained that the review was conducted upon the directive of President Duterte during the water crisis last summer

Land use. . . Continued from A8

In an interview, Belmonte told the BusinessMirror they expect the swift passage of bill at the lower chamber. Under HB 158, the National Land Use Policy Council will be created to serve as the highest policymaking body on land use and tasked to resolve land use policy conflict between or among government government offices. “I am more than willing to com-

Philippines diplomatic relations.” “I feel extremely honored to serve as the Chinese Ambassador to the Philippines at such an important historical juncture, and will work wholeheartedly to promote China-Philippines friendship and cooperation, living up to the significant mission entrusted upon me.” Huang said he was “very honored and grateful” to serve in the Philippines, where he felt “back at home.” Huang hails from Fujian Province, the same place where majority of Chinese expatriates—who eventually became billionaires—came from following the communist upheaval in 1949. “Since I was a little child, my families have kept telling me that the Philippines which faces China across the sea is our relative with close kinship and cultural bond. Therefore, the natural affinity with the Philippines has grown in my heart.” He said he was amazed at the countr y’s achievements since Duterte took office. “Standing among the region’s fastest-growing economies, the Philippines sustains its strong growth momentum, with substantial headway made in the domestic peace and reconciliation process. Filipinos are now more satisfied with their better-off lives. As a Philippine proverb goes, ‘Seize today, or you will lose tomorrow.’” Huang, once Beijing’s ambassador to the Association of Southeast Asian Nations (Asean) based in Jakarta, urged the citizens of both countries to “join with each other to embrace the present moment and open up the future.” His predecessor, Ambassador Zhao Jianhua, in October ended a five-year tour of duty, marked by the erosion of diplomatic relations when the Philippines lodged a complaint against Beijing before the International Tribunal at the Hague in 2013. In 2016, however, PhilippineChina relations got back on track when Duterte renewed ties with the Asian giant.

and before the ruling of the arbitral court was released. “PR R D [President Duterte] asked the DOJ to review the concession agreements during the height of the water crisis last summer; however, the matter was not included in the agenda of the Cabinet till last November and, again, last night for updates,” Guevarra said. Guevarra also said Duterte was “visibly upset, if not angered” by the findings of the DOJ as he is set to make a public statement on the government’s intended course of action on the matter. Still, the DOJ chief said he would leave it to Duterte to reveal what actions to take. “Out of deference to the President, I will not preempt him in declaring the government’s position and course of action. I think he will say something today,” Guevarra added. promise with the version of Malacañang to let it move. I have no problem with that. I am sure this is also the case for the other authors [of the related bill],” said Belmonte. However, Belmonte said this may not be the case in the Senate, where it could face opposition from some senators. If the measure faces rough sailing in the Senate, Belmonte said it would be up to lobbyists, as well as the Executive branch to exert “pressure” on the Senate to fast-track the approval of its counterpart version of the bill.

A4 Wednesday, December 4, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

posts ₧49.861 billion ADB approves $400-M loan Boracay in tourism revenue in 10 months to cut youth unemployment M

By Samuel P. Medenilla @sam_medenilla & Cai U. Ordinario @caiordinario

he Asian Development Bank (ADB) has approved a $400 million policybased loan to reduce the number of out-of-school and unemployed young Filipinos. The loan will be used to finance the Facilitating Youth School-to-Work Transition Program, Subprogram 2, which will support the government’s efforts to expand and transform operations of the Public Employment Services Offices (PESO) in local government units (LGUs) nationwide. The government aims to transform PESO offices into more professional processes with quality standards, broaden the coverage of the JobStart Philippines Program, and introduce skills development schemes targeting specific sectors. “This new ADB loan seeks to address the skills mismatch between young job seekers and the competencies demanded by employers,” said ADB Southeast Asia Senior Economist for Public Finance Cristina Lozano. “It also strengthens labor regulations to provide income security and decent jobs.” In addition, an A DB technical

assistance program will pilot a workplace funding scheme in 2020 to help employers implement skills upgrade initiatives in their businesses. The loan also supports government reforms that aim to improve the employability of young Filipinos through labor market programs and provide easier access to on-the-job training schemes to help them secure and retain jobs. It also supports labor-policy reforms, such as the introduction of unemployment insurance as part of amendments to the Social Security Act, and the Occupational Safety and Health Standards Act, which requires employers to comply with specific workplace standards. “Many young Filipinos today are anxious about their career prospects in a very competitive labor market. This program will enhance public employment services to help them transition from school to work,” said the Director for Public Management, Financial Sector, and Trade at

ADB’s Southeast Asia Regional Department Jose Antonio Tan III. The program also builds on ADB’s previous support to the government’s employment initiatives, such as the design and roll out of the JobStart Philippines Program as a full-cycle youth employ ment faci litation prog ram that has become law with adequate government funding. While some progress has been made in reducing unemployment in the country, 1 in 5 Filipinos, including a third of women, aged 15 to 24, are not employed in school or in training. This is significantly lower that the average of 18 percent in Southeast Asia and the Pacific. Bureau of Local Employment (BLE) Director Dominique R. Tutay told the BusinessMirror that the loaned amount will be used to support education, training and employment for youth from concerned agencies. She said the amount will be distributed to the Technical Education and Skills Development Authority (Tesda), Department of Education (DepEd), and Department of Labor and Employment (DOLE) to achieve this purpose. “For DOLE, it is more of technical support in the area of capacity building for PESO’s life skills training and Industry 4.0,” Tutay said. She added DOLE will be able to tap the loaned fund starting by 2021, adding that Tesda and DepED will have their separate time lines in accessing the said fund.

BFAR issues red tide warning

bulleti n i ssued on Monday by the Bureau of Fisheries and Aquatic Resources (BFAR) has confirmed the presence of red tide in the coastal waters of Pampanga; Bataan (Mariveles, Limay, Orion, Pilar, Balanga, Hermosa, Orani, Abucay and Samal); Puerto Princesa Bay,

Puerto Princesa City, in Palawan. The bulletin also said the coastal waters of Dauis and Tagbilaran City in Bohol; Cancabato Bay, Tacloban City, in Leyte, and Irong-irong, San Pedro, Silanga Bays in Western Samar; and Lianga Bay in Surigao del Sur are still positive for paralytic shellfish poison that is beyond the

Airport damage. . continued from A1

have increased from 156,549 hectares to 603,643 hectares; while for corn,from2,309to215,538hectares. The agency said crops in reproductive and maturing stages are vulnerable to strong winds and flooding. The DA’s regional field office is deploying to assess damage and losses in the agri-fishery sector.

Relief

Meanwhile, the National Food Authority (NFA) on Tuesday vowed quick response to emergency rice requests from local government units (LGUs) and relief agencies in areas on the path of the typhoon. “We have enough rice supply in the areas where Tisoy is expected to make landfall,” NFA Administrator Judy Carol Dansal said. In a statement, Dansal said the NFA has activated its Operation Centers (OpCen) as early as November 28, in typhoon-affected areas to immediately act on requests for emergency rice stocks The centers will cater to requests and other concerns from LGUs, relief agencies and other government offices where the NFA has existing

Meralco ... continued from A8 Ian Rivera, national coordinator of the Philippine Movement for Climate Justice, commented that, “While Meralco claims to be of service to Filipino consumers, it insists on burning more coal and fossil fuels.” Rivera’s group also raised concerns over the “opaque nature” of Meralco’s application.

memorandums of agreements. In Bicol, NFA Regional Director Henry Tristeza reported that the NFA has already released 17,024 bags of rice to LGUs. Tristeza said 411 evacuees or 82 families are being sheltered at the NFA office in Legazpi City. Moreover, Dansal said NFA’s stocks in Bicol are sufficient to address the rice requirements at this time. Bicol’s total rice stocks are at 132,134 bags. In other regions expected to be hit by the typhoon such as Eastern Visayas and the NCR, she said NFA rice stocks have been prepositioned for quick response.

Airports

regulatory limit. BFAR issued a stern warning to the public against eating of shellfish from these red-tide affected coastal waters, noting that many cases of paralytic shellfish poisoning are recorded in December due to parties for the Christmas and New Year celebrations.

other buildings sustained minor damage, Caap reported. The Busuanga Airport and Tower operations have been suspended due to strong winds and heavy rains. The Caap said Marinduque Airport sustained partial damage— specifically, the passenger terminal ceiling, check-in counter, and guardhouse window panels. All other airports under Area 3 (Jomalig, Mamburao, Marinduque, San Jose, Pinamalayan, Wasig, Romblon, Plaridel, Iba, Baler, Alabat, Calapan, and Lubaang) have reported no damage. In Eastern Visayas, Calbayog Airport is now operational after the reinstallation of all markers and wind cones. Earlier, a CebGo flight from Cebu was also able to land at the Calbayog airport. The Caap said it is also operationalizing its Malasakit Help Desks, especially in airports directly affected by Typhoon Tisoy. The rest of the Caap-operated airports damaged by Typhoon Tisoy are currently closed to the public for safety reasons as the Authority conducts inspections on the structural integrity of the facilities. Jovee Marie N. Dela Cruz, Recto L.

Meanwhile, the Civil Aviation Authority of the Philippines (Caap) reported that the Virac Flight Service Station (FSS) operations are back to normal as of late Tuesday following a brief shutdown. “Legazpi Airport’s passenger terminal building [PTB] is heavily damaged but the airport’s tower and runway are in good condition,” Caap said. The runway markings were lost, and the airport’s fire shed and

Mercene

“We filed a petition for intervention to ensure that consumers’ voices are heard in the approval process of these PSAs, as they are the ones who would be shouldering the price of dirty energy from coal and fossil fuels, both that which is printed on their monthly bills and external costs to health, climate, and the environment,” said Avril de Torres, legal counsel of P4P. The P4P lawyer noted that all six applications contain a motion

for confidential treatment of information. This, she said, “would make it hard for consumers to find out where their money goes moving forward.” “These motions, disguised by Meralco and the co-applicant generation companies as a bid to protect business secrets of the latter, make it certain that consumers will never get an answer to an important question they rightfully ask: What am I actually paying for?” said Arances.

ALAY, Aklan—Boracay’s tourism industry has generated a total of P49.861 billion in revenue as visitor arrivals aggregated to 1,742,459 in the first 10 months of 2019, or 151.76 percent higher than the recorded number of 692,124 travelers during the same period last year, according to the latest data from the Department of Tourism (DOT)-Region 6. Based on a report furnished by DOT-Boracay Senior Tourism Operations Officer (TOO) Marc Judicpa to the B usiness M irror , foreign tourists who came to the world-renown island reached 891,298 from January to October of this year. China was Boracay’s top market, registering 389,885 visit count; followed by Korea, 334,201; Taiwan, 28,455; the United States, 20,100; the United Kingdom, 10,539; Australia, 9,988; Saudi Arabia, 9,639; Japan, 9,506; Russia, 9,310; and Germany, 5,908. Local tourists and overseas Filipino workers who went there also increased during the period as they accounted for 796,908 and 54,253, respectively, of the total tourist arrival. He said that the tourism volume hike is indicative of the recovery of the island of Boracay since its reopening last October 25, 2018, after a six-month closure order from President Duterte due to environmental degradation issue. Another factor that showed the famed destination is getting back on its feet is the rise in tourism establishments, or entities now operating in Boracay. As of December 1, a total of 388 accommodation facilities has been accredited by the DOT to cater to visitors. These include 80 resorts, 26 hotels, 276 “Mabuhay” accommodation and six apartment hotels. Inventorywise, they house a total of 14,169 rooms. Other primary tourism establishments currently available are: travel agencies and tour operators at 65; tour guides (Aklan-based), 56; and tourist water transport operators, four. Secondary entities are composed of restaurants at 82; spas, nine; tourism recreation facilities, 19; and specialty and souvenir shops, 30. “If we will base the number of accommodation and tourism establishments approved by the DOT, we can roughly say that recovery level is at 85 percent compared to Boracay’s pre-closure,” Judicpa told reporters on Monday during a media briefing organized by Citic Hotel as part of the press tour of the soon to be fully

operational hospitality player at Station 1. He was referring to the upturn of businesses in terms of compliance to the tourism agency’s requirements. Boracay’s carrying capacity on a daily basis has, likewise, improved between 12,000 to 13,000. The DOT previously said the island can accommodate only 6,405 tourists everyday. But with a study conducted by University of the Philippines-Los Baños (UPLB), which multiplied the latter figure to the average traveler’s three-day stay, the capacity is now pegged at 19,215 daily visitors. “So we are still not crossing beyond that,” the senior TOO of DOT-Boracay said of the crowd situation there that remains manageable. Need for decongestion even if Boracay is not “overcapacitated” yet, a top ranking official of the Tourism Promotions Board (TPB) Philippines suggested the need for its decongestion early on. “That’s why we’re looking for several destinations nearby Boracay, wherein there could be an activity for our tourists,” said Alberto Gadia Jr., market specialist III for sales division at TPB. With the help of the DOT-Region 6, he cited that they are now promoting some alternative sites, such as Motag Living Museum in Malay, Aklan; the Bugang River in Antique, which has been declared by the Department of Environment and Natural Resources as the cleanest in the country; and the sustainable communities in Kalibo, also of Aklan. “The idea is that we have to distribute the economy to everyone. We are 7,600 islands. So that’s what we want and, at the same time, this will be a great help for the local government units,” he said. For Gadia, he sees that driving the tourists to go to other “must-visit” sites would not be detrimental to Boracay, that is currently recuperating from its twoyear rehabilitation. Based on the technical study of UPLB, the 19,215 carrying capacity need not have to be maximized, according to him. He said: “As a rule, 50 percent of the total carrying capacity would be enough technically, especially if it’s a prime destination.” Given that half of that of Boracay would be close to 10,000 daily tourist arrivals, so the 12,000 to 13,000 average is just enough reason for decongestion, Gadia stressed. Roderick L. Abad

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Wednesday, December 4, 2019 AA5

One dead, 225K evacuated, airports, offices, schools shut as Tisoy hits PHL

irports, courts and schools were shut in the Philippine capital as Typhoon Tisoy (international code name Kammuri) threatens to unleash damaging winds and torrential rains along its path.

Kammuri slammed into the Philippines’s Luzon island before midnight on Monday after more than 225,000 people have moved to safer ground. The storm, locally known as Tisoy, is bringing violent winds and intense rainfall over the southern portion of Luzon island, packing maximum winds of 155 kilometers per hour near the center and gusts of up to 235 kph, the nation’s weather bureau said in its 8 a.m. report. Nearly 500 flights have been canceled after authorities ordered the Manila airport closed for 12 hours from 11 a.m. Tuesday. The Supreme Court shut all courts in the capital region, while schools are closed and some cities suspended government work.

Shutdown

NINOY Aquino International Airport (Naia)—where as many as 600 landings and takeoffs happen every day—was closed to operations from 11 a.m. to 11 p.m. Tuesday, December 3, in anticipation of the dire effects of Typhoon Tisoy. “I can take all the blame with the decision to close the airport operation, but I cannot take the blame once one’s life is lost due to an inextricable circumstances brought about by Typhoon Tisoy,” Ed Monreal, general manager of the Manila International Airport Authority (Miaa), said during a hastily called news briefing Monday night. Monreal announced the closure before members of the Miaa board at 8 p.m., at the Naia Terminal 1. The airport chief advised all passengers with scheduled flights to refrain from coming to the airport to avoid inconvenience. “Airport operations will resume until further notice. Affected passengers are advised to check with their airlines for the status of the next available flights,” he said. Apparently, the Miaa’s advice was followed since the four Naia terminals were practically empty of passengers on Tuesday morning. Most of the commercial airplanes that could not be accommodated in their respective hangars at the Miaa compound were flown out of harm’s way. “Most of them were flown to General Santos City,” which is way below the path of Typhoon Tisoy, Monreal explained. For his part, Manny Hortaleza, ramp controller, said some airlines vacated their hangars to reposition their planes in safer areas in anticipation of Typhoon Tisoy’s onslaught. Some airline officials had explained in a separate interview that even if planes are tied down, very strong winds from a super typhoon could sweep them off their positions. Tisoy was projected to cut across the Central Visayas Tuesday, packing 130 miles per hour winds and bringing with it copious amounts of rainfall. As of midnight Tuesday local time (or 11 a.m. Monday, Eastern time), the eye was moving ashore in the Bicol region of Luzon, just west of the San Bernardino Strait. Getting slammed by the northern eyewall at the time of the Naia shutdown is Legazpi City, home to more than 180,000 people. The northern eyewall is the most destructive and dangerous part of the storm, Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said in its latest bulletin.

Damaging winds

At least one person died before the typhoon hit Sorsogon province. Electricity were shut in 10 areas in Luzon as strong winds toppled power lines, the disaster risk monitoring agency said.

“Damaging winds will spread into Metro Manila Tuesday afternoon and evening,” Accuweather said on its web site. Many areas in Luzon “will be at risk for flooding and mudslides,” it said. Powerful winds ripped apart walls and shattered windows of the airport in Albay province, ABS-CBN News reported, citing Gov. Al Francis Bichara. Organizers have suspended canoe kayak and windsurfing competitions in the 30th Southeast Asian Games being hosted by the Philippines, ABS-CBN news said.

Work suspension

Malacañang suspended work in all government offices under the Executive department and classes in Metro Manila as Typhoon Tisoy ravaged parts of Luzon on Tuesday. The work suspension took effect at 12 p.m., after Executive Secretary Salvador S. Medialdea issued Memorandum Circular 73. “Upon the recommendation of the National Disaster Risk Reduction and Management Council [NDRRMC], and in view of the continuing inclement weather brought about by Typhoon Tisoy, work in government offices and classes in schools [public and private] at all levels in Metro Manila are hereby suspended,” Medialdea said. The issuance, however, will not apply to “government agencies, which deliver basic and health services, preparedness/response to disasters and calamities, and/or the performance of other vital services.”

Private-sector jurisdiction

The circular also did not cover private companies, which irked labor group Defend Job Philippines. In a news statement, Defend Job Philippines Spokesman Christian Lloyd Magsoy criticized private companies, which still required their employees to report despite the typhoon—endangering their safety and welfare in the process. “Filipino workers are not waterproof, thus, their welfare and safety in going to work and returning back home must be on top of the government and employer’s priority at all times and at all cost,” Magsoy said. To address this, Defend Job Philippines called on the government to finally craft a new policy allowing authorities to suspend work in the private sector during “emergency situations.” “Local and international businesses must also do their part in ensuring occupational safety in the country by not looking at their work force as mere profit tools, rather as human beings who were mainly at risk during crisis situations like typhoon, flood and other related incidents,” Magsoy said.

Government aid

Typhoon Tisoy packed sustained winds of 155 kph near the center and gustiness of up to 235 kph. The Pagasa reported it made landfall on Gubat, Sorsogon, on Monday evening. The torrential rain and strong wind brought about by the typhoon led to the evacuation of at least 225,000 individuals nationwide as of Tuesday. During a Cabinet meeting on Monday, the NDRRMC reported all the concerned government agencies have already prepared food and nonfood family packs and medicines, which will be distributed to evacuated thousands of families. It also said the necessary medical teams, as well as police and military agents were already deployed to help in maintaining law and order in typhoonaffected areas. Bloomberg News, Recto Mercene, Samuel P. Medenilla, Nonie Reyes

Management of VFA, other Sofa moved from OP to DFA

N interagency committee led by the Department of Foreign Affairs (DFA) will now take over the management of the Visiting Forces Agreement (VFA) and other future status of forces agreements (Sofa). This, after President Duterte signed Executive Order (EO) 97 on Friday, transferring the management of the Presidential Commission on the Visiting Forces Agreement (PCVFA), which was renamed into the Presidential Commission on Visiting Forces (PCVF). The PCVFA was previously under the Office of the President and chaired by the Executive secretary. “The PCVFA is hereby renamed the Presidential Commission on Visiting Forces, hereafter referred to as the ‘Commission,’ which shall be attached to the DFA while being under the oversight of the Office of the President,” the EO 97 said. Aside from the foreign affairs secretary, who will chair the PCVFA, other

members of the Commission are the secretaries of National Defense; Justice; Social Welfare and Development; and Interior and Local Government. Also included in the Commission are the National Security Adviser, the executive director of the Presidential Commission on the VFA (VFACom), and representatives from the Office of the President and from the private sector. EO 97 also amended the selection process for the executive director of the VFACom. “The President upon the recommendation of the Department of Foreign Affairs and the Department of National Defense shall appoint or designate an executive director,” EO 97 said. Prior to the new issuance, the President directly appointed the executive director of VFACom. EO 97 will take effect after being published in the Official Gazette or in a newspaper of general circulation. Samuel P. Medenilla

Residents evacuate their area in preparation for the coming of Typhoon Tisoy in Legazpi, Albay province, southeast of Manila, Philippines on Monday, December 2, 2019. The Philippines’s main island, including the national capital, Manila, is under a tropical cyclone warning for a typhoon forecast to hit Monday night into Tuesday. AP

A6 Wednesday, December 4, 2019 • Editor: Angel R. Calso

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editorial

Taxing single-use plastic bags needs careful study

mages of dead marine creatures that have ingested plastic materials and of living tortoises caught in nets have prompted many to call for a ban on plastics. Experts even warned that humans are now also consuming the plastic debris they throw in seas and oceans. The plastic debris enter the food chain via the fish that ingest microplastics, which the United States National Oceanic and Atmospheric Administration defined as any type of plastic fragment that is less than 5 millimeters. The horror of discovering that plastic debris has now found its way into the food we eat has resulted in knee-jerk reactions, such as the call for a total ban on the use of plastic (See, “Duterte backs legislation to ban plastic use,” in the BusinessMirror, November 8, 2019). The President even signaled his preference for legislation to authorize the ban. In place of plastic, advocates of the ban want a shift to more environment-friendly packaging materials made of biodegradable matter, such as paper, which comes from trees. Following the President’s pronouncement, lawmakers at the House of Representatives have started deliberating a bill that seeks to impose excise tax on single-use plastic bags. House Committee on Ways and Means Vice Chairman Estrellita B. Suansing of Nueva Ecija said her proposal targets supermarkets, malls, shops, stores and similar establishments. However, House Minority Leader Bienvenido Abante Jr. wants a total ban on single-use plastic and to hike the excise tax on reusable plastic. The protection of the environment was cited by advocates as the single biggest reason for their push to ban plastics and to slap an excise tax on single-use plastics. Unfortunately, imposing taxes will not discourage single use and will only penalize the poor who have grown dependent on plastic. For the poor, plastic bags have become the most convenient means of carrying their groceries and food items that they consume in construction sites or even in their air-conditioned offices. The tax will only be passed on to consumers and raise the price of goods and it is likely that businessmen will not absorb the cost. This has always been the case whenever government decides to tax certain items. The dependency of Pinoy consumers on plastic containers and packaging materials has given rise to an industry that may be forced to lay off workers if the government will insist on a total ban on plastics. The shift to the paper-based packaging materials will also be stressful to the environment as more trees will have to be cut down to meet the spike in demand for paper. This could result in the further denudation of the country’s forests, which had to give way to more houses as the country’s population expands. The consequent increase in demand will make paper more expensive and raise the production cost of industries that depend on it. Instead of an outright ban on plastics or imposing taxes, Congress could consider giving out incentives to consumers and industries that will use biodegradable packaging materials. To protect the remaining forest cover of the country, the government must now encourage the cultivation of bamboo, a sturdy material that can also be used to construct houses. Tax perks must be given to companies that will find a way to add value to locally grown bamboo. The government can do a lot to ensure that the transition to reducing the use of plastics will be less painful. Measures to encourage people to use alternatives, however, will require political will to implement. Information and education campaign will help, but the government must not stop there.

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Free fire

(Keynote address of Foreign Affairs Secretary Teodoro L. Locsin Jr. at the High Level Forum on Global Migration in celebration of the International Day of the Abolition of Slavery, December 2, 2019, Seda Vertis North, Quezon City.)

xcellencies and guests from the diplomatic corps, partners in government and civil society, Gwen, my cousin; I’m sorry was out of town when your dad, my companion in arms in the freedom struggle passed away. Ladies and gentlemen. Good afternoon. I am honored to be with you to commemorate the International Day of the Abolition of Slavery, and to join esteemed friends dedicated to the promotion of decency in the migration process—whatever there is of it going by the photo of the little dead boy face down on a Mediterranean shore. The Global Compact for Safe, Orderly and Regular Migration is of personal importance to me. I was Permanent Representative at our Mission to the United Nations in

New York when negotiations on it began. By the time we adopted it in December 2018 in Marrakech, I had become Secretary of Foreign Affairs and the global landscape in terms of support for the Compact had vastly changed. Many countries—some our friends and allies during the negotiations—withdrew from the Compact under pressure from their political constituencies, borne by rising antimigrant narratives and the belief that the Compact would infringe on their sovereignty.

Back to work

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The only one way to treat migrants: With decency

Susan V. Ople

Scribbles

he past several days have been quite exciting. We witnessed the rise and rise of our world-class Filipino athletes, and the lows and very lows of fake news galore. We witnessed whether live or via social-media platforms and traditional television channels, the cultural extravaganza that led to the lighting up of a controversial cauldron, which later led to a quite pointless national discussion over a particular song choice. It seems that we can’t fully accept being just simply sensational. That we had a Typhoon Tisoy dampening everyone’s spirits is but another natural element to our Filipino drama. It cannot be denied that the official opening of the Southeast Asian Games was a huge success. The organizers, volunteers, athletes, and of course, the wonderful performers who took part in it deserve a standing ovation. Those who attempted to mangle the visuals we saw and downplay the goose bumps we felt, can be gleefully snide and nasty in isolation from the rest. I, for one, thought that the lighting of the cauldron was

ingenious, and to see our Pambansang Kamao, Manny Pacquiao, passing on the torch to fellow boxing champ Nesthy Petecio gave the moment the sentimentality we are known for. In a few days, Tisoy shall be just another wet memory and our attention shall be on sending off our Southeast Asian guests. We would be all alone and undoubtedly, the calls for a congressional investigation will again be the focus of national news.

At the GCM negotiations the Philippines proposed treating migration, as much a matter of migrants’ expectations, as of a state obligation to uphold a standard of decency in rites of migrant passage and arrival. If the GCM failed adoption we would not be back where we started but farther back in a far worse place.

In response to the critics, I said at the UN: The Compact does not derogate one iota from sovereignty. On the contrary, it reveals its fundamentally moral nature. A key aspect of sovereignty is the care states must take of people under them even if they are on the move—from foreign countries of origin, through foreign countries in transit, to where finally they end up and are booted out from. No enforceable obligation can be laid on sovereignty. But certain standards are expected of it. I preferred it to be called a Compact of Decency. And that it’s infringement by the abuse or neglect of migrants has as its only sanction one that is self-imposed and fully deserved: the condemnation of one’s people and state as children of a lesser god

That is expected in a democracy like ours, and post-event assessments are par for the course in any governmentrelated activity. Nevertheless, we must give credit where it is due. The probinsyano-mayor-president and his loyal crew led by House Speaker Alan Cayetano and BCDA Chairman Greg Garcia, as well as BCDA President Vince Dizon did an amazing job. That they had some missteps along the way deserved to be looked into by the proper authorities, but not by those who maliciously wish these gentlemen, particularly President Duterte, nothing but the agony of extreme failure and shame. The SEA Games is for the region that we belong to, and more important, the hosting was done by all of us, and not just by our government. I say shame on those who spent money and effort to malign our flag, and every little patriotic effort to ensure the success of the Games. If there was a syndicated, orchestrated, diabolical effort to put down the Philippines amid such a massive international sporting event, then let’s not waste time in uncovering who these perpetrators are. The key word here is malice.

without a drop of compassion and therefore beyond the pale of the most minimal humanity. And so at the GCM negotiations the Philippines proposed treating migration, as much a matter of migrants’ expectations, as of a state obligation to uphold a standard of decency in rites of migrant passage and arrival. If the GCM failed adoption we would not be back where we started but farther back in a far worse place. For failure sends the signal that it is impossible to achieve an international consensus on the most basic morality; that universal values do not exist; that decency is merely an option; that there is no right and wrong; and that every country can treat migrants as they please. There are many ways by which states can regulate the migration process; but only one way to treat migrants: and that is with decency. Today the Compact is hailed as the first United Nations framework to cover all dimensions of international migration. It provides a 360-degree approach to international migration governance, covering the whole cycle of migration, from pre-deployment to return and reintegration. The Philippines fought hard for See “Locsin,” A7

Our athletes do not have a hint of that in their rigorous training and performance. They just want to be world class. And, so do we, even as spectators, and especially as hosts. And by God, we were! So now, it’s back to work for most of us. The fake news factory may still have excess budget to spend. Still, I felt the loftiness of national unity over a span of a few days and it wasn’t because of the typhoon. It was incredible to see the organizers think as big as they could, and be allowed to, yes, make those ideas happen. The truth is that we, as a nation, must be prepared to embrace the role of being a major political, economic, and social development partner not just in the region, but also in the world. Let us not cower from it. It is our destiny. We are one great nation and we shall continue to win as one, beyond the SEA Games. We can and will win as one. And that, my friends, is not fake news. Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the InterAgency Council Against Trafficking.

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Snafu perspective in SEA Games

All laws are mandatory, including product standards Dr. Jesus Lim Arranza

MAKE SENSE

Siegfred Bueno Mison, Esq.

THE PATRIOT

reparations in any major event, be it an athletic competition, musical concert or a state visit, will always entail the creation of committees or task groups under one overall coordinating head. I am not aware whether the committees in the ongoing Southeast Asian (SEA) Games 2019 had enough help, expertise or forward planning for them to anticipate every contingency. But there can never be any ironclad plan that can address every risk. Events happen beyond anyone’s anticipation, most of the time. People criticize what they see, mildly or otherwise, to let SEA Games organizers rectify and make improvements if necessary. For the most part, it has been Snafu—Status Normal: All F***ed Up. The initial blitz online indicated a serious lack of preparation. I have a few friends on Facebook who lambasted the organizers for their supposed failure to provide decent welcome amenities for some participants despite the organizers’ claims of having “worldclass” accommodations. As expected, some media outlets expose deficiencies in the Philippine hosting of the SEA Games 2019 for government to fix them and investigate those responsible when warranted. Unfortunately, these people who reported the foul-ups in the preparation were branded as “dilawan.” The beauty of having a Snafu serves as a reminder that we all make mistakes and foul-up. At the same time, there is a need to acknowledge and rectify these mistakes. Whenever we are notified of our faults or foul-ups, the perspective should be gratitude instead of hate. In the Bible, 2 Corinthians4:15 tells us, “All this is for your benefit, so that the grace that is reaching more and more people may cause thanksgiving to overflow to the glory of God.” Whether the event is agonizing or pleasing, we must always be thankful. I admire recent social-media feeds that shared some positive reports regarding the modern facilities in Clark City and in Biñan, Laguna, as well as those that shared negative reports on the lack of glamor/style and lockout during the opening ceremonies in Bulacan. Nonetheless, I am grateful that the Philippines has these kinds of social-media users, who I feel are compelled, out of love of country, to share and highlight both the good and the bad in the SEA Games 2019 to make things better, either now or in the future. But I think the impolite, and sometimes ruthless, comments against the organizers of the SEA Games 2019 can only be resolved by polite dialogue. In his book, How To Stay Human in a F*cked Up World,

Locsin. . .

continued from A6

the Compact over two years of difficult negotiations, and I can say with pride that we are one of the global leaders in its conception and implementation. There were many doubts when negotiations started. But the Philippines said, it can be done. It can be done because we are already doing it. We did not preach. We did not lay down aspirations. Instead, we showed the positive results of our migration governance practices. These practices are anchored on two principles: upholding the human rights of all migrants, regardless of migration status; and recognizing the positive contribution of migrants to sustainable development, both of which we were able to embed in the Compact. The stamp of legal entry on a migrant is not an affirmation of his humanity. It is a validation that we, the hosts, are humans as migrants

The beauty of having a Snafu serves as a reminder that we all make mistakes and foul-up. At the same time, there is a need to acknowledge and rectify these mistakes. Whenever we are notified of our faults or foulups, the perspective should be gratitude instead of hate.

Wednesday, December 4, 2019 A7

S the government heightens its preparations for the big one, an earthquake that could reach intensity 8, and cause thousands of deaths and tremendous damage to properties and government infrastructure, understanding the essence of product standard becomes even more imperative.

And the need for consumers to figure out why product standards are even more crucial today is because the implementation of a Department of Trade and Industry order placing glass products under mandatory standard was stopped, after a petition for its injunction was filed by some importers who claim to be adversely affected by it. Allow me to help enlighten the

public on the essence of product standards. Let us start with the meaning of standard. In the dictionary, standard, as a noun, is defined as a level of quality or attainment. Thus, if product standards are prescribed by the government, these, in effect, are the minimum level of quality standards required by the government on manufacturers for their products, as part of its mandate

to protect consumers. Section 1 of the Philippine Constitution’s Bill of Rights provides that no person shall be deprived of life, liberty, or property without due process of law, nor shall any person be denied the equal protection of the laws. This constitutional provision is the lynchpin of Republic Act 7394, otherwise known as the Consumer Welfare Act. RA 7394 aims to protect consumers against hazards to health and safety, protect consumers against deceptive, unfair and unconscionable sales acts and practices, provide information and education to facilitate sound choice and the proper exercise of rights by the consumers, provide adequate rights and means of redress, and involve consumer representatives in the formulation of social and economic policies. Clearly, there are provisions of law already laid out to protect consumers. And the issue on product quality and

Casting away coal addiction for survival By Heherson T. Alvarez

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

3. Mandate segregation and recycling projects in municipalities and cities to control pollution and greenhouse-gas emissions from solid and liquid wastes, while turning them into sources of local jobs and income. 4. Manage the ongoing energy transition from fossil fuels to new renewables to reduce carbon emissions and, at the same time, maximize flexibility, preserve potentially game-changing options, enhance job creation and minimize the cost of electricity to consumers. Pilot proven energy efficiency and renewable technologies in government buildings and other structures, to set the example for the rest of the country. Solarizing the Malacañang building would be a model of inspiring government offices to follow the lead of the Palace. 5. Acquire electric vehicles for some government offices, to initiate the necessary infrastructure of charging stations that can spur other early adopters to shift to EVs. 6. Provide a comprehensive cultural, science-based communications and effective education with inclusive, transformative lifelong learning involving all disciplines of the arts and forms of media through a focused program with the support an inter-agency cluster of tourism, social welfare and Neda, including the rehabilitation of climate refugees.

7. Direct DOST, Department of Information and Communications Technology, Climate Change Commission and the Civil Service Commission to conduct a joint study to adopt Internet protocol that will permit at least 35 percent of public and private employees to work at home, three days a week. This will help reduce transport traffic, cut pollution and improve efficiency. 8. Tax appropriately and fairly COAL to excise its hidden and overt subsidy to level the playing field as one of the incentives for the entry of renewable energy. B. Adaptation Initiatives: Preparing ourselves to cope with the risks of climate change. 1. Direct all cities in NCR to propose 20 initiatives to protect and strengthen their cities, including three key actions: managing the risk of flooding, increasing areas for parks and vegetation, and improving water and energy efficiency. Proposals must be based on identified hazards and assessed risk of climatechange impacts on the most vulnerable areas and infrastructure within their territories. 2. Implement job-creating agroforestry programs for enhancing the resilience of farms to climate impacts, reducing land degradation, and improving soil quality and productivity to ensure diversified and secure food production in various

parts of the country. 3. Provide special funding to highly vulnerable LGUs, like Cagayan de Oro and Ilagan, and local universities, Pagasa and NRRDC for the development and implementation of adaptation plans based on multihazard scenario-based assessment of risks and vulnerabilities. 4. For food security, direct the Department of Agriculture to include more resilient crops than rice and corn in its programs, and enhance the adaptive capacity of small-scale agriculture, especially in the Cordillera region, the Cagayan Valley and parts of Mindanao. 5. Direct the Department of Environment and Natural Resources to promote and provide support for the cultivation of mangrove forests by coastal communities for their protection from storm surges, and opportunities for food, income and recreation. 6. Allocate appropriate fund and direct the Commission on Higher Education, the Department of Education (DepEd) and the Technical Education and Skills Development Authority (Tesda) to implement nationwide rollout, information dissemination, and training of teachers and students in integrating climate change and disaster risk issues in the K to 12 and other curricula. This can spark a nationwide trend for innovation and promotion of science-based solutions in communities and LGUs. 7. Require and assist DepEd and DOH to provide schools and clinics in distant barangays with supplementary power from local renewableenergy sources. Incentives for installing and operating backup RE power sources by government agencies and units, medical facilities and schools should also be provided. 8. Declare the 175-hectare Las Piñas-Paranaque Critical Habitat and

never ceased to be when they suffered in their countries—thanks to Western wars; when they endured worse privations as they fled therefrom, running greater perils; and facing graver risks when they finally stop running in a strange land among hostile strangers. These practices continue to guide us in our implementation of the Compact. On human rights, we are focused on ending the oppressive nature of the kafala system in the Middle East. This is because the kafala system has been used to “legitimize” the treatment of our migrant workers as property, no more than slaves—it has put them in harmful and humiliating working and living environments. President Duterte will not stand for the exploitation of his people. Using the Compact as a platform, we are working with Middle East countries—all of whom adopted the GCM—to ease restrictions on migrant workers’ labor mobility; and to allow them to move to another employer; and exit from countries of destinations without being constrained

by their sponsors-employers. An example is our strong partnership with the Kingdom of Bahrain in the issuance of “flexible” visas. These visas regularized approximately 1,000 Filipino migrant workers, most of them domestic workers. The flexible visa is a work and residency permit, valid for two years and renewable indefinitely. It also includes medical insurance and a return ticket to the Philippines should the OFW wish to return to the country. As I speak to you here, our embassy in Manama is helping another batch of Filipino migrant workers in irregular situations to acquire residency and work permits in Bahrain through the flexible visa program. The Philippines and the Kingdom of Bahrain have also signed an agreement for a standard employment contract that will institutionalize lower deployment costs, fair and ethical recruitment policies and decent work, and protection of migrant workers against abuse. Foreign Affairs Undersecretary Sara Lou Arriola was the driver of these

initiatives. She blazed the trail, she cut the path and paved the road to these reforms. Please give her a warm applause. United Arab Emirates is another partner. We are jointly pilot testing the Comprehensive Information and Orientation Program. It provides upto-date information on rights and obligations of employers and workers, access to remedies for abuse, standard working conditions particularly in domestic work and in the hospitality and retail service sectors. At the UN General Assembly in September at New York, I also signed with UAE a landmark MOU on Cooperation in Human Trafficking. Our initiatives extend beyond the Middle East. In Canada, we are doing the first government-to-government pilot testing of IOM’s International Recruitment Integrity System. IRIS promotes ethical recruitment and decent work principles, and lays down safeguards for the rights of migrant workers. It does so by working with committed recruitment agencies in the Philippines—few and far

between—and the provinces of Alberta and Saskatchewan, as well as engaging employers in Canada to set and sustain ethical recruitment services. On sustainable development, the Compact is now mainstreamed into our Philippine Development Plan. You will find an entire chapter on “Safe, Orderly, and Regular Migration” in the PDP, embodying our GCM National Implementation Plan. The plan establishes a benchmark for relevant government agencies in determining how the Philippines is achieving the Compact’s objectives and commitments, both as a migrant-sending and a migrantreceiving country. The Philippine Statistics Authority has developed guidelines on collection, and use of migration data based on international migration statistics and standards. This enables government agencies to share comparable data on international migration. It responds to the Compact’s emphasis on the importance of data and statistics for effective

author Tim Desmond said criticism and demand, both of which have an underlying unmet need, are obstacles to a real dialogue. For instance, before making any retort/remark, one may have to step back and understand that an author of any rude or vulgar comment likely has an unmet need, perhaps frustration in a career, domestic troubles, or the need for attention. Instead of saying “F*uck you” or Tangnamo or resort to namecalling “Dutertards or “dilawan,” the better approach is to calmly sit in silence and allow serenity to take over. Effective communication is more about what the listener/reader listens to or reads, rather than what the speaker/writer says or writes. Desmond says that radical acceptance of all things, good and bad, allows us to stay human. While accepting Snafu is being human, accepting the situation normal, but not rectifying the all f*cked up things when put on notice, is inhuman. What has happened and will happen at the SEA Games 2019 can serve as a microcosm of what should happen to our country if only our people can develop a better perspective in conflict resolution. I think this Snafu in the ongoing SEA Games 2019 should be something to celebrate, as it gave the country a lesson about planning, preparation and conflict resolution. For as long as the organizers, the host government, and the Filipino people learn to embrace this Snafu experience in the SEA Games 2019, all of us should always be grateful. Having 20 gold medals on the first day of the Games is, of course, a bonus!

Conclusion

Upscale low-carbon farming methods in irrigation systems nationwide, such as organic farming, which eliminates the use of fossil fuel-based agrochemical and the system of rice intensification (SRI), which reduces agricultural methane by minimizing rice field flooding. These systems also improve farmers’ income and health.

safety are consumer concerns that are already being addressed by the government through its prescribed product standards. All product standards are mandatory. The mandatory and voluntary provisions of the department order refer only to the manner of inspection. Thus, strict compliance to standards is a government concern that would ensure the safety and protection of consumers. We should not lose track of the fact that the ultimate beneficiaries of product standards are consumers, be it industrial, food and drugs. But even if there are existing laws to protect consumers, it should also be incumbent upon us to be watchful and assertive of our rights as consumers. And most importantly, remember that every Filipino is a consumer from womb to tomb. From the time a baby is conceived in a Filipina mother’s womb, the baby becomes a consumer, until his/her last breath.

Ecotourism Area of NCR, and similar critical areas, as Climate Change Adaptation Projects and commit Pagcor funding for their planning, beautification and cleanup. 9. Support the call of LGUs for the reform of the People’s Survival Fund. The PSF was created in 2012, but remains generally dormant due to weak organizational mechanisms. President Duterte supported the recent global strike on Climate Justice, Peace and Clean up kicked off in the Philippines by the Earthsavers Unesco Dream Center, Climate Institute and its partners that created the unique Gallery of the Sea that was applauded by him in his message: “This administration recognizes that armed conflict and climate change are among the greatest challenges our society faces today. I, thus commend your organization for being our reliable partner in upholding our peace-building efforts and environmental conservation programs. I also hope that you will encourage others to take concrete steps in preserving our natural resources and leading a more sustainable and responsible lifestyle.” The President, therefore, is in a unique position to initiate a cultural revolution to bring about a regime of plenty by protecting the nation from the ravages of inevitable, intensified extreme weather occurrence that will submerge our coastal towns, threatening the survival of our nation.

policy formulation. If you don’t know the numbers you can’t know the approach and solution. In Dubai, where I inaugurated the first Passport Renewal Center outside of our embassy or consulate, I said: “Every effort, every step that we make toward national security and economic security must always be guided by the beacon, that is the protection and promotion of the rights and welfare of all overseas Filipinos. We get lost otherwise; this has been shown time and again. No effort made nor expense incurred for our people abroad but has paid handsome dividends for us at home; while I can think of a couple things on which effort and expense have been wasted at home.” Many countries continue to push back against the Compact, but our commitment remains steadfast. With your help and guide, the Philippines will continue to be the bright light on the path to the full implementation of the Global Compact for Migration—the city on the hill that is home away from home. Thank you.

Heherson T. Alvarez is former senator and Isabela representative who served as Environment secretary, as well as Climate Change secretary. He is the founder of Earthsavers, honored as a Unesco Dream Center and is currently chairman of the advisory board of Climate Institute, among the oldest Internatiobal NGO based in Wahington, D.C., Tel. 0917-8711161 or 0815-8983947.

A8 Wednesday, December 4, 2019

MWSS’s water concession deals onerous, DOJ finds J

By Joel R. San Juan

@jrsanjuan1573

USTICE Secretary Menardo Guevarra on Tuesday disclosed that several provisions in the 1997 water concession agreements between Metropolitan Waterworks and Sewerage System (MWSS) with Maynilad Water Services Inc. and Manila Water have been found to be onerous and disadvantageous to the government and the consuming public.

Guevarra made the revelation even as the Office of the Solicitor General (OSG) earlier confirmed

that an international arbitral tribunal has rendered an award finding the Philippine government liable

Most notable were the prohibition against government interference in rate-setting and the provision on indemnity for possible losses in the event of such government interference,” Guevarra said. for Manila Water’s actual losses from June 1, 2015, to November 22, 2019, amounting to P7.4 billion. However, the OSG said the award is not yet final and executory and, all legal remedies will be pursued to contest it. “Most notable were the prohibit ion aga inst gover nment interference in rate-setting and the provision on indemnity for

possible losses in the event of such government interference,” Guevarra said. Guevarra attributed Manila Water’s victory before the Permanent Court of Arbitration to the ruling directing the payment of P3.6 billion to Maynilad as compensation for losses or damages three years ago. See “MWSS,” A2

DA to spend ₧200M for national seed park

HE Department of Agriculture (DA) said it has set aside P200 million to establish the National Seed Technology Park, which is expected to help boost crops production, next year. Agr iculture Secretar y William D. Dar made the pronouncement following the 2019 National Seed Summit. Dar said available and accessible good-quality and certified seeds are important in increasing the country’s

agricultural production. Inspired by the A ndhra Pradesh State Mega Seed Park in India, Dar said the seed technology park is envisioned as a business proposition or an inclusive agribusiness opportunity that is not limited to research or educational purposes only. “We have been doing research all these years. However, if we compare our total factor productivity with other Asean countries, [the Phil-

ippines] is there at the middle,” he said in a statement. “Many of the appropriate or relevant outputs of research do not reach the countryside,” Dar added. The DA chief said talks with potential partners are ongoing and funds have already been allocated to kick-start the project next year. “We will invite all the key players in the seed industry, be it private, multinational, or local. This will be

in one area, maybe national center in Luzon with branches in Visayas and Mindanao,” said Dar. According to Dar, the National Seed Technology Park will gather the key players in the seed industry in an area of at least 50 hectares. “They can set up not only research there, but even facilities for drying, processing and packaging. Complete value chain, that’s the whole idea,” he added.

ERC KICKS OFF PUBLIC HEARINGS ON MERALCO POWER-SUPPLY DEALS By Lenie Lectura @llectura

HE Energy Regulatory Commission (ERC) has commenced public hearings on the Manila Electric Co.’s (Meralco) six power-supply agreements (PSAs) that underwent competitive selection process (CSP). The six PSAs are with First Gen Hydro Power Corp., Phinma Energy Corp. and South Premiere Power Corp. for the supply of 500 megawatts mid-merit capacity for five years, starting December 26, and with Phinma Energy, SPPC and San Miguel Energy Corp. for the supply of 1,200 MW brownfield capacity. During the first public hearing on Monday, climate justice and consumers’ rights advocates raised various concerns. The Power for People Coalition (P4P), which filed last November 29, a petition for intervention at the ERC, questioned the results of the competitive bidding. “We are pleased that after over two years of Meralco’s insistent efforts to evade biddings for their power-supply agreements, the CSP finally took place,” said Gerry

Arances, convenor of the Power for People Coalition. “We find it alarming, however, that Meralco is still so set on ensuring that power consumers remain tied to paying for dirty energy in the coming decade while also suffering the impacts of destructive power generation,” Arances added. Of the six PSAs now undergoing the approval process in the ERC, the P4P noted that at least 1,460 MW would be sourced from coal and other fossil fuels. “Meralco is rushing the approval of these new PSAs because its existing contracts worth 1,905 MW, most of which come from coal-fired power plants, are expiring by the end of this month. But before consumers and all groups pushing for clean energy can rejoice [over] the end of these coal contracts’ reign, we learn that Meralco is replacing dirty energy, also with dirty energy,” Arances noted. Contracts set to expire before the year-end include Meralco’s PSAs with the Masinloc coal-fired power plant (430 MW), Therma Luzon coal plant (350 MW), and a coal facility of SMEC (430 MW). See “Meralco,” A4

See “Seed park,” A2

Duterte set to issue land use EO TYPHOON “TISOY” {KAMMURI} 110 KM NORTHWEST OF SAN JOSE, OCCIDENTAL MINDORO NORTHEAST MONSOON AFFECTING LUZON as of 4:00 pm - December 3, 2019

By Jovee Marie N. dela Cruz @joveemarie

& Samuel P. Medenilla

@sam_medenilla

RESIDENT Duterte will soon issue an executive order (EO) that will allow the government to classify lands based on its intended use. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said Duterte made the announcement after the National Economic and Development Authority (Neda) presented the salient provisions of the National Land Use Bill during the 44th Cabinet meeting which was held in Malacañang. “The President approved the suggestion that the administration first come up with an executive order for the purpose,” said Panelo. He said the EO will serve as a “stopgap measure” until Congress finalizes and approves the National Land Use Bill, which is considered a priority bill by the administration. Duterte had reiterated in his State of the Nation Address (Sona) last July his appeal to lawmakers to finally pass the proposed National Land Use Act, which he said will attract more investors to the Philippines and will hasten rural development. The President said he wanted the bill on land use finalized before the end of the year.

Congressional support

Currently, the Neda said 13 National Land Use Bills are pending at the Committee on Land Use of the House of Representatives. One of them is House Bill (HB) 158 or the the Act Instituting A National Land Use and Management Policy, filed by Quezon City Sixth District Representative Jose Christopher Y. Belmonte. See “Land use,” A2

BUREAUCRATS HONORED Pangasinan Fourth District Rep. Christopher de Venecia and Anna Mae Yu Lamentillo, who chairs the Department of Public Works and Highways (DPWH) “Build, Build, Build” Committee, were awarded by the Harvard Kennedy School Alumni Association, among others, with the Veritas Medal for answering the call of public service. The awarding took place on November 30, at the 1st Bureaucrats’ Ball, in Makati City. Also awarded was Manila Mayor Isko Moreno. CONTRIBUTED PHOTO

Pagcor keeps door shut to new online casinos

HE Philippines is keeping its door shut for new online casinos to avoid a proliferation of the industry similar to what happened in Cambodia, its gaming chief said Tuesday. The Philippine Amusement and Gaming Corp. (Pagcor) is regulating the issuance of new licenses for both land-based and online casinos. “We want to rationalize so that everybody with a license has a good chance of being successful,” Chairman Andrea Domingo said in

a forum in Manila. The Southeast Asian nation doesn’t want to benefit from Cambodia’s ban on online casinos, and is monitoring if gaming service providers here are hiring workers from Cambodia, Domingo said. Online casinos banned in Cambodia may relocate to the Philippines and boost office demand, property consultant Santos Knight Frank Senior Director Morgan McGilvray said in October. Bloomberg News

www.businessmirror.com.ph • Editor: Angel R. Calso

The World BusinessMirror

Oil extends gain as Opec crude production slips before meeting

il extended gains as Opec crude output dropped before the group and its allies meet this week to set the path for future production cuts. Futures added 0.5 percent in New York even as Asian stocks declined following the announcement of fresh tariffs by President Donald J. Trump. Output from the Organization of Petroleum Exporting Countries slipped by 110,000 barrels a day last month, according to data compiled by Bloomberg, while analysts forecast US crude fell last week for the first time since mid-October. Crude has climbed since early October on signs the US-China are close to a breakthrough on an initial trade deal. Iraq said on Sunday that Opec+ may consider deepening output cuts, contrary to expectations, while Saudi Arabia has signaled it will no longer tolerate cheating by other members on quotas. “Opec+ doesn’t seem like it’s going to make a further cut in its agreed output,” Kim So Hyun, a commodities strategist at Daishin Securities Co., said by phone in Seoul. “If the group extends the current plans without making

deeper cuts, prices are likely to retreat to near $50 a barrel.” West Texas Intermediate for January delivery added 28 cents to $56.24 a barrel on the New York Mercantile Exchange as of 7:40 a.m. in London. The contract rose 1.4 percent to close at $55.96 on Monday. Brent for February settlement gained 22 cents, or 0.4 percent, to $61.14 a barrel on the London-based ICE Futures Europe Exchange. The contract added 43 cents to close at $60.92 on Monday. The global benchmark crude traded at a $4.92 premium to WTI for the same month. The drop in Opec’s production last month was led by Angola, which has been suffering a decline for the past four years. The nation’s output fell to the lowest in more than a decade. Iran’s output, already squeezed to the lowest since the 1980s by US sanctions, dwindled even further. US crude inventories probably shrank by 1.5 million barrels last week, according to a Bloomberg survey. If that’s confirmed by Energy Information Administration data on Wednesday, it would be the first decrease in six weeks. Bloomberg News

Wednesday, December 4, 2019

China hints US blacklist imminent, creates new obstacle to trade talks

hinese state media said the government would soon publish a list of “unreliable entities” that could lead to sanctions against US companies, signaling trade talks between the two nations are increasingly under threat from disputes over human rights in Hong Kong and Xinjiang.

The Communist Party-backed Global Times said in a tweet early Tuesday that the list was being sped up in response to a bill sponsored by Republican Senator Marco Rubio requiring sanctions against Chinese officials involved in alleged abuses of Uighur Muslims in the far west region of Xinjiang. Beijing has threatened to publish such a list of companies since May, after the US placed restrictions on Huawei Technologies Co. China’s foreign ministry later sidestepped a question about the report, saying only that the country’s determination to oppose foreign interference was unwavering. “China will take further necessary measures according to the development of the situation,” ministry spokeswoman Hua Chunying told

a regular news briefing. Any response from China on the Xinjiang issue that hits US companies would add another obstacle as the world’s two biggest economies struggle to finalize a phase-one deal to de-escalate their trade war. Investors are looking for any signs of progress ahead of a December 15 deadline for President Donald Trump to add yet more tariffs on Chinese imports. Stocks were mixed in Asia as investors contemplated the latest developments in China, as well as Trump’s move to threaten new levies on France and slap steel tariffs on both Brazil and Argentina.

Hong Kong Bill

ON Monday, Trump said that trade talks with China had been complicated by legislation he signed last

week threatening sanctions on officials who undermine Hong Kong’s semi-autonomy from Beijing. That legislation, along with a bill that bans the export of crowd control devices to Hong Kong police seeking to stem pro-democracy protests, led China to threaten sanctions on some human rights organizations and halt US naval visits to the city. Global Times Editor in Chief Hu Xijin said on Tuesday that the Xinjiang bill would spur more retaliation from China, writing on Twitter that US officials may face visa restrictions and US diplomatic passport holders could be banned from entering the province. China stands accused of incarcerating as many as a million Uighurs as part of an anti-terrorism campaign, actions it describes as voluntary re-education. China hasn’t specified which companies would be affected by the blacklist, though courier firm FedEx Corp. has been under particular scrutiny this year. Any move from President Xi Jinping’s government must also weigh the costs on China’s economy, which is growing at its slowest pace in decades. The US House of Representatives is expected to vote Tuesday on the Xinjiang bill, which amends a version passed by unanimous consent in the Senate in September. It adds provisions that require the president to sanction Chinese government officials responsible for the repression

of Uighurs, a predominantly Muslim and Turkic-speaking ethnic group, and places restrictions on the export of devices that could be used to spy on, or restrict, the communications or movements of group members.

Year-end goal

Lawmakers are working to resolve differences between the House and Senate versions of the bills to find a version that can pass swiftly through Congress before the end of the year. Rubio said that means any changes would need to be “pre-cleared” by the relevant committees so the bill could be passed by unanimous consent in the Senate. Among other provisions, the bill requires the president to submit to Congress within 120 days a list of senior Chinese government officials who have committed human rights abuses against Uighurs in Xinjiang or elsewhere in China. That list would include Xinjiang Party Secretary Chen Quanguo and officials responsible for mass incarceration or reeducation efforts targeting Uighurs and other predominantly Muslim ethnic minorities. The president would be required to impose visa and financial restrictions under the Global Magnitsky Act on the listed individuals. The State Department would also need to submit a report to Congress on human rights violations in the region. Bloomberg News

Malaysia’s ex-PM Najib seeks to show he’s victim of fugitive

In this December 8, 2013, file photo, steel beams sit outside Arena de São Paulo in São Paulo, Brazil. President Donald Trump on December 2 accused Brazil and Argentina of hurting American farmers through currency manipulation and said he’ll slap tariffs on their steel and aluminum imports to retaliate. AP/Ferdinand Ostrop

Brazil’s Bolsonaro under fire after Trump threatens tariffs

ÃO PAULO—Brazilian President Jair Bolsonaro’s US-focused foreign policy efforts suffered a severe setback on Monday when his American counterpart Donald Trump pledged to impose tariffs on steel and aluminum on the South American nation. Trump initially leveled the threat by Twitter while accusing Brazil and neighboring Argentina, governed by US allies Bolsonaro and Mauricio Macri, of manipulating their currencies and hurting American farmers. Brazil’s vice president denied the accusation, but Bolsonaro, who openly admires Trump, was reticent; the far-right politician said he could call Trump “if needed.” Argentina’s production and labor minister, Dante Sica, said Trump’s announcement caught policymakers by surprise. Both South American nations were among a group of US allies that Trump exempted from steel and aluminum tariffs in March 2018. The American president’s threat to reverse that decision and impose the metals tariffs on Argentina and Brazil is another example of his mercurial approach to trade policy. He also called on America’s central bank to act to prevent other countries from devaluing their currencies. “Brazil has really discounted. If you take a look at what’s happened with their currency, they’ve devalued their currency very substantially by 10 percent. Argentina also,” Trump said shortly before departing for a Nato conference in

London. He did not provide specifics on the tariffs. The stakes are high for Bolsonaro, who has made his relationship with Trump a cornerstone of his diplomacy and is called by both friends and foes “the Trump of the tropics.” While feuding publicly with other Western leaders, including the presidents of Germany and France, Bolsonaro has made several concessions to Trump in the expectation of reaping benefits. He has exempted American tourists from visas to visit Brazil, allowed the US to launch satellites from Brazil and made it easier for Brazilians to buy American wheat and ethanol. I n e x c h a n ge , he re c e i v e d tepid US support for Brazil ’s bid to enter the Organization for Economic Cooperation and Development, while Argentina has received full endorsement for membership. “Brazil’s president thought he had a big brother. Now he realizes he does not,” said Carlos Melo, a political science professor at the Insper University in Sao Paulo. “His supporters might have to say that Trump was under pressure and there will be compensation later. But clearly this affects Bolsonaro. It is clear that international politics are about economic interests, not friendship.” Brazil is grappling with stubborn double-digit unemployment, and its economy is headed toward its third straight year of roughly 1-percent growth, following two years of deep recession. AP

UA L A LU MPUR , Mal aysia—For mer Ma l aysian Prime Minister Najib Razak sought to show he was the victim of a cunning fugitive financier as he opened his defense on Tuesday in his first corruption trial linked to the multibilliondollar looting of the 1MDB state investment fund. Najib is defending himself against seven charges of abuse of power, breach of trust and money laundering relating to 42 million ringgit ($10.1 million) that allegedly went into his bank accounts from SRC International, a former unit of the 1MDB fund. The high court judge last month said it was clear Najib, who was also finance minister at the time, wielded “overarching authority and power” in SRC and had acted for personal gains. Standing in the witness stand in his crisp blue suit, Najib outlined 1MDB’s formation and the role of financier Low Taek Jho, who has been identified by US investigators as the mastermind behind the massive scandal that is being probed in several countries. He said 1MDB was originally a sovereign wealth fund started by the northeastern Terengganu state together with the state ruler, who was Malaysia’s king at the time.

Former Malaysian Prime Minister Najib Razak, center, walks out from the courtroom at the courthouse in Kuala Lumpur, Malaysia, for his corruption trial on Tuesday. Razak has started his defense in his first corruption trial linked to the multibillion-dollar looting of the 1MDB state investment fund, that helped led to his downfall last year. AP Photo

Ethnic state rulers take turns as Malaysia’s monarch under a rotating system. Low at the time was an adviser and close associate of the then-king, he said. The fund ran into problems over its Islamic bond issuance and the Cabinet “reluctantly” agreed to take over in 2009 to prevent embarrassment to the king and adverse impact on the country’s bond market, he said. Najib, 66, didn’t say what Low’s role was after the takeover. He said Low “has shown himself to be a very influential figure in the

Middle East” and could help draw investments for 1MDB. He said the 1MDB directors remained the same and that it was 1MDB’s idea to form SRC in 2011. He said he wasn’t aware of company clauses giving him key power in SRC but that it wasn’t unusual in government-linked companies. Najib denies any wrongdoing and accuses Malaysia’s new government of seeking political vengeance. His alliance’s shocking loss in May 2018 elections led to Malaysia’s first change of government since independence

from Britain in 1957. US investigators say more than $4.5-billion stolen from 1MDB was laundered through layers of bank accounts in the US and other countries to finance Hollywood films and buy hotels, a luxury yacht, art works, jewelry and other extravagances. More than $700 million from the fund allegedly landed in Najib’s bank account. This is the first of five criminal cases against Najib over 1MDB corruption. His wife, several officials from his government, and the US bank Goldman Sachs also face charges related to the scandal. Najib’s defense will show he is also “a victim” of a scheme devised by Low and his cohorts, Najib’s lawyer Muhammad Shafee Abdullah told reporters during lunch break on Tuesday. Low bribed the management of 1MDB and SRC to do his bidding and kept Najib in the dark, the lawyer said. Low is wanted in both Malaysia and the US and currently in hiding. Najib has shown he “has nothing to fear” by subjecting himself to cross-examination in the stand, Shafee added. The patrician former leader, whose father and uncles were the country’s second and third prime ministers respectively, could face years in prison if convicted. AP

European Union to overhaul economy in green deal push

he European Union is gearing up for the world’s most ambitious policy against climate change—requiring a radical overhaul of the economy—at a summit in Brussels next week. The bloc’s leaders will commit to cutting net greenhouse-gas emissions to zero by 2050, according to a draft joint statement for the December 12 and 13 meeting. To meet this target, the EU will promise more green investment and adjust its policymaking, from easing a ban on state subsidies to changing public procurement rules and taxing imports from countries that fall short on environmental standards. “If our common goal is to be a climateneutral continent in 2050, we have to act

now,” Ursula von der Leyen, president of the European Commission, told a United Nations climate conference on Monday. “It’s a generational transition we have to go through.” The EU plan, set to be approved as the high-profile United Nations summit in Madrid winds up, would put the bloc ahead of other major emitters. Countries including China, India and Japan have yet to translate voluntary pledges under the 2015 Paris climate accord into binding national measures. US President Donald Trump has said he’ll pull the US out of the Paris agreement. The Commission, the EU’s regulatory arm, will have the job of drafting the rules that would transform the European economy once national leaders have signed

off on the climate goals for 2050. The wording of the draft summit communique, which may still change, reflects an initial set proposals due to be unveiled by the Commission on the eve of the leaders’ gathering.

Make it irreversible

To ensure that coal-reliant Poland doesn’t veto the climate goals, EU leaders want to pledge an “enabling framework” that will include financial support, according to the document, dated December 2. The commission has estimated that additional investment on energy and infrastructure of as much as €290 billion ($321 billion) a year may be required after 2030 to meet the targets. Under the plan, the

European Investment Bank will spearhead the funding. It has promised to mobilize 1 trillion euros over a decade. Von der Leyen told the UN meeting that the Commission will propose an EU law in March that would “make the transition to climate neutrality irreversible.” She said the measure will extend the scope of emissions trading, and will include “a farm-to-fork strategy and a biodiversity strategy.” The EU leaders will also debate the bloc’s next long-term budget next week. The current proposal would commit at least $300 billion in public funds for climate initiatives, or at least a quarter of the bloc’s entire budget for the period between 2021 and 2027. Bloomberg News

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In the ad material of Notice of filing of Application for Alien Employment Permits published on November 14, 2019, the Name of Mr. Okumo, Godfrey Owese under RAMCAR BATTERIES INTERNATIONAL LIMITED-ROHQ should have been read as Mr. Okumu, Godfrey Owese and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

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DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 December 4, 2019

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Company/Employer

Name and Citizenship of Foreign National

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Mr. YINGHAO HAN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. HAO CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QIAO JIANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. JIAHUI LUO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. GUIYOU GAO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. YONGCHUN LIU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QIANG LIU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JINQUAN LIU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. DAKUI GONG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. CHUANMING ZHU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHENGDONG CAI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHUANGXING WANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. BAORUI ZHU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YINGYING HAN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QIANSHUANG YANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. WEIHAO YANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. MINGMING SUN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. RONG CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. YU CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIN YE/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. ZHIGANG XIAO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JINYE CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIAO WANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIAOGANG MENG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. WENLONG ZENG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. CHANGWEI YU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YUYING SONG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YUEZHU LIN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. PENG WANG/ Chinese

Chinese Speaking Customer Service Representative

BusinessMirror

A16 Wednesday, December 4, 2019

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

www.businessmirror.com.ph

Name and Citizenship of Foreign National

Name and Address of Company/Employer

Position and Brief Description of Functions

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIANFENG XIE/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIN JIN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. XIAOFENG LAI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QIAOHUI DAI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. CHUNYU BA/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIAOBING ZHAO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JING CHENG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. YULIN LIN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JIAN YU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. YUSHENG LUO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. LINGYUN JIANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. ZILIANG CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JINGCONG HUANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 100 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHUANGGEN LI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QI XIAO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 101 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JINPENG CHEN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LEI YANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 102 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. FEIFEI QIAO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. CHUJIE WANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 103 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHANGLIN CHENG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. HUANGSHAN SHI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 104 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. FANGLING DAI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LIN HUANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 105 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LIHAI DONG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. WENKE LAN/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 106 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. XIWEI GONG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YUE ZHANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 107 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YANHONG HU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. QIJIAN ZHANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 108 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LEI WANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. HAIBO ZENG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 109 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. CHANGLIN LI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. ZHIJIAN FU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 110 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. PENGCHENG LIU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. KE YU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 111 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. ZHONG QIU/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. JIAJIA SONG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 112 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. FENG HUANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. JIAMIN WANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY 113 SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. LIULIN JIANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. YONGREN YAN/ Chinese

Chinese Speaking Customer Service Representative

BIGMATE PHILIPPINES, INC. 114 FPIP, Brgy. Sta. Anastacia, Santo Tomas, Batangas

MR. YOSHINORI TOMOBE / Japanese

General Manager

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. SHUICHANG LAI/ Chinese

Chinese Speaking Customer Service Representative

LEADING SUCCESS (PHILS.) GARMENTS 115 INC. Maduya, Carmona Cavite, Carmona, Cavite

MS. FANGLI ZHANG / Chinese

Sewing Technician

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. FAWEN AN/ Chinese

Chinese Speaking Customer Service Representative

LEADING SUCCESS (PHILS.) GARMENTS 116 INC. Maduya, Carmona Cavite, Carmona, Cavite

MS. SHU-HSIEN LIN / Taiwanese

Garments Marking

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. LINGLIN JIANG/ Chinese

Chinese Speaking Customer Service Representative

LEADING SUCCESS (PHILS.) GARMENTS 117 INC. Maduya, Carmona Cavite, Carmona, Cavite

MS. XULIAN MENG / Chinese

Embroidery Supervisor

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. JIAOJIAO ZHU/ Chinese

Chinese Speaking Customer Service Representative

LEADING SUCCESS (PHILS.) GARMENTS 118 INC. Maduya, Carmona Cavite, Carmona, Cavite

MR. SHUGUANG LUO / Chinese

Sewing Technician

LEADING SUCCESS (PHILS.) GARMENTS 119 INC. Maduya, Carmona Cavite, Carmona, Cavite

MS. YAN LI / Chinese

Sewing Technician

NIPPON MICROMETAL CORPORATION 120 PHILIPPINES FPIP, Brgy. Sta. Anastacia, Santo Tomas, Batangas

MR. AKINORI ISHII / Japanese

Senior General Manager - Quality Assurance and System

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. WENGUANG WU/ Chinese

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. RUI TANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. DONGDONG GUO/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. DANYANG LI/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Ms. YALI HUANG/ Chinese

Chinese Speaking Customer Service Representative

LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

Mr. MINGYU ZHANG/ Chinese

Chinese Speaking Customer Service Representative

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication. Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007281

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, December 4, 2019

PSALM wants to debit Malaya’s operating cost from P4.4-B MBP to attract investors

By Lenie Lectura

@llectura

HE Power Sector Assets and Liabilities Management Corp. (PSALM) is asking the Commission on Audit (COA) to allow it to deduct the operating cost of the 650-megawatt (MW) Malaya Thermal Power Plant from the P4.48billion minimum bid price (MBP) in order to make the power asset more attractive to investors. “The next step is for us is to go to COA and get a discounting process, a mechanism for discounting the minimum bid price. If we keep on holding the plant

and we keep on not being able to privatize it, there is a cost to run that,” said PSALM President Irene Besido-Garcia. PSALM declared a failure

of the second round of public bidding because there was only one bid. Pursuant to the bidding rules, PSALM then proceeded to go through the process of negotiated sale with the lone bidder, DM Wenceslao. T he MBP was set at P4,481,796,017. However, DM Wenceslao’s bid offer was below the MBP. Thus, PSALM was constrained to also declare a failure of the negotiated sale. “We are telling COA if it is possible [to make] the cost for operating that plant...a discounting factor so that I can bring down the price and it’s going to be more attractive to other bidders. If I cannot bring down the price, it is useless to do another bidding,” Garcia pointed out. The cost to operate the plant, which is already way past its commercial life, is P400 million

to P500 million. The amount includes fuel, real-property taxes, among others. “Hopefully, we would be allowed to subtract that amount from the MBP. We can never really tell how much amount the market is willing to pay so we need to keep on trying,” the PSALM official said. PSALM had strictly followed the COA guidelines in coming up with the P4.4billion MBP. “Unfortunately, that is quite high for the perspective of the private sector who will be bidding. It is important for us to go in to the process of bidding because that will tell you if the market is really willing to pay that amount. While we didn’t like the outcome because of the failed bidding, it told you that the market is not willing to pay for P4.4 billion for that power plant,” she added. The Malaya plant, located in Pililla, Rizal, is currently operational and being dispatched as a must-run unit. Per the Department of Energy’s direction, once privatized on an “as is where is” basis, Malaya is no longer required to be run as an MRU. There are two units but only Unit 2 is working.

BCDA says New Clark City deal ‘most transparent, aboveboard’ By Ashley Manabat Correspondent

LARK FREEPORT—The Bases Conversion and Development Authority (BCDA) said its joint-venture agreement (JVA) with MTD Capital Berhad for the development of New Clark City (NCC) is both “transparent and aboveboard.” In a press conference on Monday with Government Corporate Counsel Atty. Elpidio J. Vega, BCDA President and CEO Vince Dizon laid down the facts, emphasizing that the JVA with the developer underwent all the legal requisites and processes and that it is very advantageous to the government. This debunked unfounded allegations that the deal was full of irregularities and designed to defraud the government. Dizon said BCDA’s JVA with MTD Capital Berhad for the development of NCC Phase 1A, which includes the sports facilities being used in the SEA Games, was done in the most transparent and aboveboard manner possible.

He said there was never an unfavorable opinion in the January 30, 2018 contract review by the OGCC. “The OGCC gave its comments and suggestions to which BCDA addressed and clarified. The OGCC, in response to clarifications made by BCDA, unequivocally said that the ‘provisions of the executed JVA and the legal framework of the project are in compliance with the existing laws, rules and regulations,’” Dizon said, citing the latest October 2, 2018 opinion of OGCC. Vega validated the OGCC opinion during the press conference: “The contract review which was issued way back in January was indeed not a negative opinion or contract review but, in fact, it approved and gave the go signal to BCDA.” “I, hereby, confirm that the same is really aboveboard and we found no legal impediment to its execution,” Vega said. It was also disclosed that BCDA was advised by the Asian Development Bank (ADB) on all financial, technical, and legal aspects of the project from beginning to end.

“This included the mode of building the sports facilities that went through public procurement through a competitive Swiss challenge,” Dizon said, refuting reports that the deal did not go through public bidding. On the unfounded allegation that the deal was designed to “defraud the government,” Dizon said, “the sports facilities were not part of the original proposal for MTD for Phase 1. It was BCDA who required that they be part of Phase 1 to fulfill requirements for the Southeast Asian Games 2019.” He said the contract is very advantageous to the government because the government will not pay a single centavo to the developer, until the sports facilities are completed and accepted. The NCC sports facilities, which include the Athletics Stadium, Aquatics Center and the Athletes’ Village, are already being used by athletes and spectators in the ongoing 30th Southeast Asian Games. Dizon further pointed out that “MTD borrowed from DBP under commercial

THE Athlete’s Village at New Clark City BERNARD TESTA

DPWH hopes to get Neda Board OK for SMC’s P23.9-B TPLEx proposal By Lorenz S. Marasigan @lorenzmarasigan

HE Depar tment of Pub lic Works and Highways (DPWH) hopes to advance the multibillion-peso unsolicited proposal of San Miguel Corp. (SMC) for the development of the Tarlac-Pampanga-La Union Expressway (TPLEx) by the first half of next year. Public Works Secretary Mark A. Villar said he hopes that the

National Economic and Development Authority (Neda) Board will approve the P23.95-billion unsolicited offer as early as “the first quarter of 2020.” A document from the web site of the public works department showed that San Miguel submitted a P23.95-billion proposal for a three-segment extension of TPLEx all the way to San Juan, La Union. The project involves a 59.4-kilometer (km) four-lane toll road,

which will start from the last exit of the TPLEx in Rosario, La Union, and will terminate at San Juan, La Union. It is divided into the following segments: Rosario-Tubao (18 km), Tubao-Naguilian (23 km) and Naguilian-San Juan (18.4 km). The proposal was submitted on February 14 last year. SMC is the concessionaire for the TPLEx. It received the original proponent status in December 2019.

terms without any guarantees from the Philippine government, including BCDA.” Dizon added that the only guarantee submitted to DBP is a guarantee by MTD’s mother company in Malaysia.

PSE hopes to have more listings in 2020 By VG Cabuag @villygc

HE Philippine Stock Exchange (PSE) said it hopes to grow more in 2020, and looks forward to having initial public offerings and other capitalraising activities by publicly listed firms more than what it saw this year. “I hope to see about six IPOs as we had only four this year,” PSE President Ramon S. Monzon said. He said more listed firms will also be raising more capital from stock offering as a lot of firms had opted to issue fixed-income securities this year. “If you look at the listings at the fixed-income exchange, you can see that this is one of their best years,” Monzon said. “I hope many of these firms are reaching their limit for bonds and start going back to stocks next year.” Public listings and trading activity in the PSE will also pick up if the Securities and Exchange Commission (SEC) finally approves the new rules for Real Estate Investment Trusts (REIT) and short-selling of stocks, he said. The PSE, meanwhile, has incorporated the ESG (environment, social and governance) framework, in its criteria for its annual Bell Awards given to the listed firms. It signed an agreement with the SEC for the promotion of ESG good practices. Previously, the PSE only used

corporate governance in its criteria. In cooperation with MSCI Inc., the PSE is developing a framework that will cover the key ESG issues, taking into account industry-based global standards and best practices. “We aim to create a fair and objective set of criteria that can evaluate the publicly listed companies against global and comprehensive standards and best practices on sustainability,” Monzon said. Launched in 2012, the PSE Bell Awards was aimed at commending publicly-listed companies and trading participants which have demonstrated outstanding corporate governance practices in their respective organizations. After the 2018 Bell Awards, the PSE has resolved to reformulate its awards by incorporating the global and more comprehensive standards for ESG as the central framework for the PSE Bell Awards beginning 2020 onward. “We will use the ‘man on the street’ approach in our assessments of the publicly listed companies, using only publicly available information. The Exchange, in its evaluation, will refer to, and consider, publicly available disclosures and other relevant data including, but not limited to, the company’s SEC Sustainability Report, Integrated Annual Corporate Governance Report and its disclosures to the public,” the PSE said.

Companies BusinessMirror

Wednesday, December 4, 2019

PSE STOCK QUOTATIONS

The networks war, one more time: ABS-CBN, GMA claim dominance

December 3, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

ASIA UNITED 53.75 54 54 54 54 54 1,000 54,000 158 158.5 159.3 159.3 155.4 158.5 1,530,590 242,204,788 BDO UNIBANK BANK PH ISLANDS 87.25 87.75 86.8 88.2 86.7 87.25 4,765,000 416,100,398 ( 25.05 25.1 25.25 25.25 25.05 25.05 11,800 296,665 CHINABANK EAST WEST BANK 13.08 13.1 12.8 13.08 12.8 13.08 971,300 12,612,326 67.2 67.3 67 68.05 66.5 67.2 2,379,730 160,048,515 METROBANK PB BANK 12.7 12.98 12.7 12.7 12.7 12.7 300 3,810 37.6 37.65 36.8 37.9 36.8 37.6 775,900 29,134,360 PHIL NATL BANK PSBANK 57.5 57.95 58.7 58.7 57.5 57.5 1,270 74,063 24.6 24.7 24.4 25 24.4 24.7 219,700 5,427,470 RCBC SECURITY BANK 201.6 202 206.2 206.2 201 202 630,130 127,660,622 58.1 59 59.15 59.15 59 59 40,530 2,391,271.5 UNION BANK BRIGHT KINDLE 0.96 0.98 0.97 0.98 0.96 0.98 223,000 216,160 18.18 18.5 18.18 18.5 18.18 18.5 10,500 191,050 COL FINANCIAL FERRONOUX HLDG 4.1 4.28 4.04 4.29 4.04 4.29 2,000 8,330 1.18 1.29 1.21 1.21 1.16 1.18 73,000 86,330 IREMIT MANULIFE 805.5 814 805.5 805.5 805 805 910 732,575 0.81 0.82 0.82 0.82 0.82 0.82 72,000 59,040 NTL REINSURANCE PHIL STOCK EXCH 178 178.8 178.8 178.8 178.8 178.8 50 8,940 1,805 1,873 1808 1,808 1,805 1,805 20 36,115 SUN LIFE INDUSTRIAL AC ENERGY 2.47 2.49 2.42 2.58 2.42 2.49 1,488,000 3,681,490 ( ALSONS CONS 1.23 1.27 1.27 1.27 1.27 1.27 7,000 8,890 34.2 34.6 34.9 35 34.2 34.2 698,500 24,115,040 ABOITIZ POWER FIRST GEN 24.8 25 25 25.45 24.8 24.8 717,400 17,925,990 75.05 75.15 75 75.15 75 75.05 2,030 152,278 FIRST PHIL HLDG MERALCO 322.4 324.6 321 324.8 321 322.4 66,490 21,446,036 18.78 18.8 18.96 18.96 18.52 18.8 2,065,500 38,784,490 MANILA WATER PETRON 4.42 4.46 4.5 4.5 4.41 4.42 3,310,000 14,641,200 3.9 4.1 3.9 4.19 3.9 4.1 9,000 35,930 PETROENERGY PHX PETROLEUM 10.94 11 10.96 11 10.94 11 135,400 1,482,228 33.35 33.45 33.45 33.45 33.3 33.35 72,500 2,418,455 PILIPINAS SHELL SPC POWER 8.72 8.75 8.8 8.84 8.69 8.75 500,100 4,371,043 13.7 13.8 13.86 13.86 13.5 13.86 231,200 3,195,160 AGRINURTURE AXELUM 3.27 3.28 3.24 3.3 3.12 3.27 1,347,000 4,374,970 17.8 18.54 17.82 17.82 17.82 17.82 500 8,910 CNTRL AZUCARERA CENTURY FOOD 15.32 15.38 15.2 15.4 15.14 15.4 18,500 283,586 5.11 5.2 5.35 5.35 5.2 5.2 1,200 6,255 DEL MONTE DNL INDUS 8.71 8.72 8.75 8.75 8.72 8.72 402,300 3,510,250 7.19 7.2 7.2 7.2 7.19 7.2 55,100 396,466 EMPERADOR SMC FOODANDBEV 89.4 90 89.95 90 89.35 90 40,590 3,649,070 ALLIANCE SELECT 0.57 0.59 0.6 0.6 0.56 0.59 407,000 232,570 1.5 1.51 1.44 1.53 1.35 1.51 113,648,000 165,021,280 FRUITAS HLDG GINEBRA 40.5 41 41 41 40.1 40.5 8,500 344,650 192 193 197.9 198 192 192 621,320 120,563,153 JOLLIBEE MACAY HLDG 7.81 8.08 8.14 8.14 8.1 8.1 1,200 9,760 12.46 12.48 12.58 12.58 12.1 12.48 36,000 442,410 MAXS GROUP PEPSI COLA 1.32 1.33 1.4 1.4 1.33 1.33 323,000 435,770 10.58 10.6 10.5 10.86 10.5 10.6 45,800 486,372 SHAKEYS PIZZA ROXAS AND CO 2.02 2.03 2.06 2.07 2 2.02 2,349,000 4,839,270 5.43 5.46 5.43 5.46 5.42 5.46 20,800 113,140 RFM CORP ROXAS HLDG 1.9 1.99 1.9 1.99 1.9 1.99 5,000 9,590 0.115 0.118 0.115 0.115 0.115 0.115 600,000 69,000 SWIFT FOODS UNIV ROBINA 144 145 151.9 151.9 144 144 1,112,000 162,203,991 1.11 1.12 1.13 1.13 1.08 1.12 3,118,000 3,449,480 VITARICH CONCRETE A 64.55 69.8 64.6 69.8 64.5 69.8 2,850 184,001 66.5 72 67.3 67.3 67 67 160 10,723 CONCRETE B CEMEX HLDG 2.26 2.28 2.29 2.32 2.26 2.28 298,000 678,470 14.7 14.98 15 15 14.7 14.7 61,300 903,698 EAGLE CEMENT EEI CORP 10.3 10.42 10.3 10.46 10.3 10.3 23,300 240,006 13.5 13.94 13.68 13.94 13.5 13.94 195,900 2,692,274 HOLCIM MEGAWIDE 16.74 16.8 17.24 17.24 16.72 16.8 902,900 15,174,796(13 PHINMA 9.51 10 10 10 9.5 10 96,400 944,017 1.02 1.05 1.06 1.06 1.06 1.06 1,000 1,060 TKC METALS VULCAN INDL 0.94 0.95 0.93 0.96 0.93 0.95 245,000 232,550 175 179.8 188 188 155 175 7,300 1,237,983 CHEMPHIL CROWN ASIA 2.03 2.07 2 2.07 1.95 2.07 51,000 103,220 5 5.1 5.1 5.1 5.1 5.1 3,000 15,300 LMG CHEMICALS MABUHAY VINYL 3.41 3.55 3.42 3.45 3.41 3.45 16,000 54,670 4.97 5.27 5 5 5 5 2,001,000 10,005,000 PRYCE CORP CONCEPCION 28.1 29.5 29.8 29.8 29 29.7 1,200 35,125 1.95 1.96 1.99 1.99 1.94 1.96 1,678,000 3,304,600 GREENERGY INTEGRATED MICR 7.8 7.9 7.81 7.81 7.75 7.8 54,100 421,112 1.32 1.39 1.31 1.39 1.31 1.39 51,000 68,410 IONICS PANASONIC 5.25 5.59 5.23 5.6 5.22 5.59 9,600 51,249 0.95 1 0.95 1 0.93 1 179,000 170,990 SFA SEMICON CIRTEK HLDG 5.02 5.1 4.93 5.1 4.75 5.02 233,000 1,175,050

HOLDING & FRIMS

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 JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.78 12.24 831.5 49.75 11.06 3.4 6.56 0.69 0.91 0.93 7 6.49 13.24 0.21 895 78.5 5.3 5.21 0.485 4.04 11 4.38 0.038 1.32 2.7 1.24 1,066 161 212.2 0.214 0.207

0.79 12.34 832 49.9 11.1 3.43 6.71 0.72 0.92 0.99 7.01 6.5 13.3 0.228 900 79 5.45 5.5 0.5 4.06 11.68 4.39 0.039 1.37 3 1.25 1,069 161.1 219 0.224 0.211

0.76 12.36 840 49.2 10.94 3.37 6.71 0.72 0.91 0.93 7.05 6.5 13.2 0.21 905 78.1 5 5.21 0.5 4.1 11.5 4.4 0.036 1.35 3 1.22 1078 158 213.2 0.214 0.207

0.79 12.36 840 50.5 11.16 3.45 6.71 0.72 0.92 0.93 7.05 6.64 13.3 0.21 905 79 5.45 5.21 0.51 4.1 11.7 4.42 0.038 1.37 3 1.24 1,084 162.5 219 0.214 0.207

0.75 12.22 825 49.2 10.94 3.37 6.71 0.72 0.9 0.93 6.99 6.41 13.2 0.21 894.5 77.8 5 5.21 0.485 4.04 11 4.37 0.036 1.34 3 1.22 1,062 158 212.4 0.214 0.207

0.78 12.32 831.5 49.75 11.06 3.4 6.71 0.72 0.92 0.93 7 6.5 13.3 0.21 900 79 5.45 5.21 0.5 4.04 11 4.39 0.038 1.37 3 1.24 1,069 161.1 219 0.214 0.207

5,090,000 2,200 223,580 1,142,400 22,742,300 242,000 400 1,000 609,000 160,000 10,100 22,768,100 685,000 20,000 51,160 894,840 1,100 100 57,000 2,327,000 3,446,900 17,832,000 29,700,000 43,000 6,000 37,000 234,010 228,370 450 20,000 30,000

3,924,320 27,022 185,953,645 57,029,955 251,324,232 825,150 2,684 720 557,800 148,800 70,816 147,926,284 9,107,288 4,200 46,046,560 70,502,937 5,950 521 28,135 9,402,920 38,910,892 78,277,940 1,118,800 58,190 18,000 45,310 251,668,145 36,772,283 95,870 4,280 6,210

(2,700) 66,609,153 44,400,681.5) (27,610) 9,006,944 (4,151,482) (20,030,810) (56,454) (5,315,390) (40,598,504) (2,277,991.5) (0) (3,576)

876,039.9997) (14,505,075) 1,743,895 (17,993.5) (3,568,184) (10,079,438) (1,616,320) (1,427,228) 1,370,635 878,699.9998 223,982 1,207,530 46,690 (3,036,984) (374,896) 638,223 138,490 214,650 (16,579,163) (53,964) (144,850) (331,518) (15,224) (64,818,772) (81,990) 114,324 (1,046) (1,915,426) ,406,101.9999) (9,960) 1,860 (10,000,000) (5,900) 400,600 58,469 20,910 (78,000) 70,614,435 (13,240,775) (16,252,104) (147,060) (148,800) 9,895 (70,119,393) (2,457,328) 11,898,440 14,468,470 (1,208,090) (11,792,902) (13,130,370) 5,481,295 (8,534,035) (12,780) (4,280) -

PROPERTY ARTHALAND CORP 0.83 0.84 0.83 0.85 0.83 0.84 45,000 37,630 AYALA LAND 47.15 47.25 46.75 47.25 46 47.25 11,096,000 519,885,745 138,691,250 1.5 1.52 1.55 1.55 1.5 1.52 146,000 221,740 ARANETA PROP BELLE CORP 1.98 2 2 2 1.98 1.98 208,000 413,630 (132,990) 0.71 0.74 0.73 0.74 0.7 0.74 8,000 5,760 A BROWN CROWN EQUITIES 0.179 0.194 0.195 0.195 0.195 0.195 50,000 9,750 6.25 6.4 6.4 6.4 6.4 6.4 200 1,280 CEBU HLDG CEB LANDMASTERS 4.78 4.8 4.7 4.8 4.66 4.8 356,000 1,702,600 9,480 0.56 0.57 0.56 0.57 0.56 0.57 5,238,000 2,970,750 68,410 CENTURY PROP DOUBLEDRAGON 19.3 19.48 19.52 19.6 19.3 19.3 82,100 1,596,808 154,458 10.36 10.4 10.38 10.4 10.2 10.4 39,400 408,332 DM WENCESLAO EMPIRE EAST 0.435 0.445 0.435 0.445 0.435 0.445 70,000 30,800 1.51 1.52 1.51 1.55 1.51 1.52 12,420,000 18,873,500 (8,186,240) FILINVEST LAND GLOBAL ESTATE 1.2 1.21 1.2 1.21 1.2 1.21 165,000 199,580 14.84 14.9 14.84 14.9 14.84 14.9 57,300 850,416 (378,442) 8990 HLDG PHIL INFRADEV 1.31 1.32 1.3 1.36 1.3 1.32 976,000 1,290,960 4.3 4.69 4.3 4.3 4.3 4.3 1,000 4,300 KEPPEL PROP MEGAWORLD 4.35 4.38 4.46 4.46 4.35 4.35 18,564,000 81,854,920 (17,877,750) 0.214 0.215 0.213 0.219 0.213 0.214 2,590,000 558,190 MRC ALLIED PHIL ESTATES 0.395 0.42 0.4 0.42 0.395 0.42 1,030,000 407,800 (8,400) PRIMEX CORP 2.01 2.02 2.02 2.02 2.01 2.01 246,000 494,480 ( 401,999.9999) 25.4 26.1 26 26.15 25.4 25.4 1,911,200 49,277,375 (25,764,220) ROBINSONS LAND PHIL REALTY 0.33 0.36 0.325 0.36 0.325 0.36 130,000 43,300 2.12 2.23 2.15 2.15 2.12 2.12 9,000 19,320 (17,200) ROCKWELL SHANG PROP 3.12 3.25 3.16 3.25 3.12 3.25 99,000 309,490 2.4 2.44 2.47 2.47 2.43 2.44 74,000 180,860 STA LUCIA LAND SM PRIME HLDG 39.7 40.5 39.3 40.5 39.3 40.5 4,067,300 163,413,845 82,778,025 5.19 5.47 5.16 5.49 5.16 5.47 38,000 205,193 VISTAMALLS SUNTRUST HOME 1.34 1.35 1.34 1.39 1.31 1.35 2,060,000 2,762,370 40 54.8 46 46 46 46 4,000 184,000 PTFC REDEV CORP VISTA LAND 7.56 7.6 7.6 7.6 7.55 7.6 2,200,700 16,709,207 (3,829,051) SERVICES ABS CBN 17.32 17.42 17.42 17.46 17.32 17.42 244,900 4,270,562 GMA NETWORK 5.15 5.24 5.2 5.27 5.15 5.15 185,500 959,805 0.41 0.42 0.4 0.43 0.4 0.41 3,050,000 1,232,250 MANILA BULLETIN GLOBE TELECOM 1,980 1,981 1979 1,980 1,931 1,980 38,385 75,432,160 (31,883,605) 1,077 1,085 1066 1,095 1,066 1,085 30,215 32,665,485 (1,885,150) PLDT IMPERIAL 1.67 1.78 1.84 1.84 1.84 1.84 2,000 3,680 0.102 0.106 0.102 0.102 0.102 0.102 190,000 19,380 ISLAND INFO ISM COMM 3.87 3.88 3.89 3.97 3.86 3.88 1,267,000 4,938,890 42,400 2.02 2.33 2.27 2.36 2.27 2.36 5,000 11,480 JACKSTONES NOW CORP 2.8 2.81 2.75 2.82 2.75 2.8 698,000 1,946,110 (136,970) 0.285 0.29 0.28 0.29 0.28 0.285 2,510,000 705,550 TRANSPACIFIC BR PHILWEB 2.7 2.73 2.7 2.75 2.69 2.7 192,000 518,590 (32,390) 9.85 9.86 9.9 10 9.86 9.86 1,900 18,850 2GO GROUP ASIAN TERMINALS 16.3 18.6 18.26 18.26 18 18.26 293,700 5,362,628 5 ,357,149.9999 5.54 5.55 5.57 5.6 5.48 5.55 713,900 3,933,932 (52,440) CHELSEA CEBU AIR 91.8 91.9 92.5 92.5 91.2 91.8 30,390 2,787,811.5 (551,656.5) 122.8 123.8 119.8 124.1 119.8 122.8 1,676,430 205,705,535 (18,110,778) INTL CONTAINER LBC EXPRESS 13.52 14 13.98 13.98 13.98 13.98 5,000 69,900 17.94 18 18.28 18.28 17.9 18 545,500 9,820,830 (2,110,780) MACROASIA METROALLIANCE A 0.99 1.04 0.99 0.99 0.99 0.99 4,000 3,960 7.72 7.79 7.79 7.79 7.79 7.79 4,200 32,718 PAL HLDG 1.13 1.14 1.19 1.19 1.12 1.13 396,000 453,850 HARBOR STAR ACESITE HOTEL 1.47 1.53 1.46 1.57 1.46 1.53 7,000 10,580 1.97 2.04 1.97 2.04 1.97 2.04 6,000 11,890 (9,850) DISCOVERY WORLD WATERFRONT 0.6 0.61 0.6 0.6 0.6 0.6 841,000 504,600 6.9 7.1 6.9 6.9 6.9 6.9 300 2,070 CENTRO ESCOLAR STI HLDG 0.66 0.67 0.66 0.67 0.66 0.66 1,052,000 695,620 3.2 3.22 3.15 3.2 3.04 3.2 1,943,000 6,018,940 (85,620) BERJAYA BLOOMBERRY 11.18 11.26 11.26 11.3 11.18 11.26 692,500 7,795,420 (1,987,736) 2.48 2.5 2.5 2.5 2.5 2.5 6,000 15,000 (15,000) PACIFIC ONLINE LEISURE AND RES 2.69 2.75 2.7 2.7 2.69 2.69 53,000 143,050 56,700 3.38 3.4 3.38 3.38 3.38 3.38 17,000 57,460 (20,280) MANILA JOCKEY PREMIUM LEISURE 0.62 0.63 0.62 0.62 0.62 0.62 1,000,000 620,000 (267,840) 11.46 11.5 11.48 11.5 11.42 11.5 3,607,800 41,422,724 2,311,228 ALLHOME METRO RETAIL 2.2 2.25 2.29 2.29 2.2 2.2 2,474,000 5,469,310 (2,785,670) 39.7 40.1 40.1 40.1 39.6 39.7 463,900 18,451,730 (7,752,675) PUREGOLD ROBINSONS RTL 74.6 74.95 75 76 74.45 74.95 192,940 14,470,233 2,133,858 130 149 150 150 150 150 7,680 1,152,000 1,132,500 PHIL SEVEN CORP SSI GROUP 2.46 2.47 2.57 2.57 2.43 2.47 3,699,000 9,114,300 217,160 18.56 19 18.7 19 18.52 19 4,192,800 78,726,966 39,985,860 WILCON DEPOT APC GROUP 0.465 0.47 0.46 0.47 0.46 0.47 2,250,000 1,036,600 23,250 EASYCALL 8.71 8.98 9 9 8.98 8.98 2,200 19,786 420 425 419 425 419 425 80 33,670 GOLDEN BRIA IPM HLDG 4.6 4.79 4.6 4.6 4.6 4.6 13,000 59,800 0.465 0.475 0.47 0.48 0.465 0.475 5,760,000 2,717,550 100,100 PRMIERE HORIZON SBS PHIL CORP 9 9.15 9.15 9.15 9.15 9.15 400 3,660 MINING & OIL ATOK 10 10.48 10.5 11.2 10 10.46 44,400 447,880 APEX MINING 1.05 1.06 1.05 1.07 1.05 1.06 205,000 217,190 (156,110) 2.39 2.58 2.38 2.38 2.38 2.38 5,000 11,900 ATLAS MINING BENGUET A 1.02 1.12 1.02 1.13 1 1.12 46,000 47,060 0.275 0.28 0.275 0.29 0.27 0.29 310,000 84,550 COAL ASIA HLDG CENTURY PEAK 2.57 2.58 2.52 2.57 2.52 2.57 1,039,000 2,656,730 7.4 7.45 7.6 7.6 7.23 7.45 5,300 39,297 DIZON MINES FERRONICKEL 1.48 1.49 1.48 1.58 1.48 1.49 52,414,000 81,405,940 (7,803,580) 0.202 0.212 0.203 0.213 0.201 0.211 290,000 59,980 GEOGRACE LEPANTO A 0.098 0.1 0.1 0.1 0.098 0.098 600,000 58,900 0.0082 0.0087 0 0.0083 0.0083 0.0083 0.0083 10,000,000 83,000 MANILA MINING A MANILA MINING B 0.0086 0.0094 0 0.0086 0.0086 0.0086 0.0086 5,000,000 43,000 0.96 0.98 0.95 0.98 0.94 0.98 109,000 103,020 42,750 MARCVENTURES NIHAO 1.03 1.05 1.04 1.07 1.04 1.05 33,000 34,850 2.99 3.04 2.92 3.06 2.9 2.99 11,187,000 33,562,700 (22,702,580) NICKEL ASIA ORNTL PENINSULA 0.78 0.81 0.81 0.81 0.81 0.81 1,000 810 3.17 3.2 3.17 3.38 3.17 3.2 217,000 693,520 (195,080) PX MINING SEMIRARA MINING 21 21.5 21.3 21.6 21 21 2,804,800 59,177,235 (9,041,980) 0.0056 0.0058 0 0.0056 0.0056 0.0054 0.0054 10,000,000 55,800 UNITED PARAGON AC ENEXOR 9.03 9.08 8.67 9.11 8.66 9.08 184,500 1,645,175 (280,197) ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 14,000,000 161,000 0.011 0.013 0.013 0.013 0.013 0.013 600,000 7,800 ORNTL PETROL B PHILODRILL 0.01 0.011 0.01 0.01 0.01 0.01 200,000 2,000 10.38 10.4 10.52 10.52 10.3 10.38 451,300 4,710,694 (47,250) PXP ENERGY PREFFERED HOUSE PREF A 97.5 99.6 99 99.5 97.5 97.5 16,180 1,609,145 AC PREF B1 502 509 504 504 502 502 100 50,300 500 504 502 504 502 504 210 105,440 (55,240) AC PREF B2R SMC FB PREF 2 995 999 999 999 999 999 4,050 4,045,950 108 113 112 113 110 113 42,200 4,717,574 FGEN PREF G FPH PREF C 472 499 471 472 471 472 650 306,598 9,420 1.01 1.04 1.01 1.01 1.01 1.01 70,000 70,700 LR PREF MWIDE PREF 100.2 101 101 101 101 101 6,650 671,650 100.5 102.3 100.5 100.5 100.5 100.5 500 50,250 PNX PREF 3A PNX PREF 3B 104.5 108.9 109 109 109 109 1,000 109,000 1,025 1,026 1025 1,029 1,025 1,026 240 246,170 PNX PREF 4 PCOR PREF 3A 1,030 1,049 1030 1,030 1,028 1,028 50 51,420 1.39 1.72 1.36 1.36 1.36 1.36 2,000 2,720 SFI PREF SMC PREF 2C 77.75 78 78.15 78.15 77.7 78 22,900 1,784,639 76.6 77.4 77.4 77.4 77.4 77.4 130 10,062 (10,062) SMC PREF 2F SMC PREF 2H 75.35 75.45 75.3 75.3 75.3 75.3 4,000 301,200 75.3 75.5 75.2 75.5 75.2 75.5 1,010 76,252 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.68 5.03

16.7 5.04

17 5.04

16.68 5.02

16.7 5.02

56,700 47,500

947,322 239,260

WARRANTS LR WARRANT

1.33

SMALL & MEDIUM ENTERPRISES

ITALPINAS KEPWEALTH XURPAS

4.05 11.48 0.87

FIRST METRO ETF

117.5

1.44

4.07 11.5 0.88

4 11.06 0.87

4.08 11.5 0.89

4 11.04 0.86

4.05 11.48 0.87

146,000 327,200 743,000

587,810 3,737,824 645,760

EXHANGE TRADE FUNDS 118

117.8

118

117.3

117.5

3,860

453,644

(947,322) (204,120) 151,700 (42,550) (87,000)0) -

www.businessmirror.com.ph

By Lorenz S. Marasigan

@lorenzmarasigan

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Tan’s daughter appointed as Eton’s new COO

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one’s full support to working effectively and as a team,” she said. “It is my wish that all of us be open and willing to take on new challenges as we face the ever-changing expectations of our market. I believe that by working together, we can truly achieve success as envisioned by my brother Bong.” Say has 20 years of management experience in the property, human resources, trading and acquisitions, and service industries. She is a founding director and board member of Dong-A Pharma Philippines Inc., a distributor of fast-moving consumer goods. She started her career as an account executive for banquet sales at Tan’s Century Park Hotel. She also worked as a purchaser of Sterling Department Store Midway Trading Corp. in San Francisco, California. Say is a Management degree holder from the Ateneo de Manila University. She went on to attaining magna cum laude honors in Interior Design from the Fashion Institute of Design and Merchandising in San Francisco. VG Cabuag

Nine out of 10 CISOs say the board asks them for advice, but half of companies still lump cyber security into IT budget

hE vast majority (89 percent) of chief information security officers (Ciso) are regularly summoned by the board of directors to provide recommendations for the business, according to the latest global survey of information-security heads commissioned by Kaspersky. The study also revealed that despite a “direct line” with top bosses, it does not necessarily result in dedicated investments in security. In fact, 54 percent of respondents admit having to share their organization’s IT budget. In the third quarter of 2019, 451 research conducted an independent study, commissioned by Kaspersky, to explore the various factors shaping information security from the perspectives of enterprise security leaders. The study surveyed 305 respondents with senior or executive responsibility for cyber security in enterprises worldwide, with the findings revealing how the nature of cyber security and security leadership has evolved. According to the study, top management seek advice from IT security leaders regardless of the organization’s reporting structure, with only 23 percent reporting to the board. Business leaders need inputs from their Ciso most often when an internal cyber-security incident happens—as recognized by 60 percent of respondents. However, it’s not all about breaches—executives also seem to be proactive and mindful about how to protect the company now and in the future. More than half (57 percent) of the surveyed IT security chiefs schedule meetings with the board on a regular basis, and 56 percent are requested to provide their expert

opinions on future IT projects. However, despite being visible and valuable to the board, Cisos still face difficulties when it comes to justifying necessary spending on IT security. Having to siphon their expenses from the broader IT budget, 43 percent of those surveyed feel that they are in direct competition with other business and IT initiatives, making it one of the top 3 challenges they face in order to make the case for essential information-security investment. “As the study shows, boards of directors now understand that cyber security is an important part of business success. Nevertheless, there’s still a challenge for CISOs to be able to convert this understanding into actual support. Speaking business language instead of using technical jargon, focusing on how to solve problems and bringing in third-party expertise to justify meaningful measures are all key components to win over directors,” comments Veniamin Levtsov, VP of Corporate Business, at Kaspersky. To help CISOs communicate effectively with their board of directors, Kaspersky recommended: n Shifting from ad hoc communications to regular sync-ups with the business leadership team, to help keep the board updated on the company’s security measures and aware of strategic priorities; n Speaking in a language that top management understands, as executives rarely have a security or technical background; and n Ensuring that board members receive security training.

percent, versus GMA’s 28 percent. It also led all the time blocks, registering a 44-percent share in prime time versus the competitor’s 30 percent; netting 38 percent for the morning block against its rival’s 25 percent; booking a 40-percent share in the noontime block versus the 31-percent share of GMA; and capturing 43 percent of the audience during the afternoon block versus GMA’s 33-percent share.

GMA’s claims In a separate statement, the Gozon-led network, citing data from Nielsen, said it sustained its lead in Urban Luzon and Mega Manila. It netted 33.3 percent in totalday people audience share in Urban Luzon, beating the competition’s 29.6-percent share, while it scored an average of 33.9 percent

Mutual Funds

in Mega Manila, versus ABSCBN’s 27 percent. Urban Luzon accounts for 72 percent of all urban TV viewers in the country, while Mega Manila represents 60 percent of all urban households in the Philippines. GMA, likewise, led the afternoon block with 35.6 percent in people audience share versus A BS- CBN’s 28.4 percent; and the evening block with 35.3-percent share compared to its rival’s 31.9-percent share. GMA bases its claims to leadership from Nielsen data, which has a nationwide sample size of 3,500 urban and rural homes. The Lopez-led network sources its data from Kantar Media, which uses a nationwide panel size of 2,610 urban and rural homes that represent 100 percent of the total Philippine TV viewing population. December 3, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc. -a 254.56 2.51% 1.87% -0.95% 0.94% ATRAM Alpha Opportunity Fund, Inc. -a 1.4378 2.74% 2.06% -1.64% -0.21% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.7922 -1.8% -0.65% -2.97% -2.84% Climbs Share Capital Equity Investment Fund Corp. -a 0.9124 2.88% n.a. n.a. 1.27% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8623 5.15% n.a. n.a. 5.07% First Metro Save and Learn Equity Fund,Inc. -a 5.3638 3.11% 2.84% -0.73% 1.72% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8615 3.51% -0.98% n.a. 2.96% MBG Equity Investment Fund, Inc. -a 107.55 -5.1% n.a. n.a. -7.42% PAMI Equity Index Fund, Inc. -a 51.7452 6.35% 4.23% n.a. 5.12% Philam Strategic Growth Fund, Inc. -a 538.43 5.69% 2.88% -0.4% 4.6% Philequity Dividend Yield Fund, Inc. -a 1.3032 4.85% 3.49% 0.57% 3.92% Philequity Fund, Inc. -a 38.3 5.62% 4.44% 0.43% 4.55% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0288 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.2671 7.56% 5.02% 1.49% 6.22% Philippine Stock Index Fund Corp. -a 878.98 7.47% 4.92% 1.39% 6.1% Soldivo Strategic Growth Fund, Inc. -a 0.8774 2.88% 2.29% n.a. 2.02% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2656 5.35% 4.25% 0.5% 5.09% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0093 7.08% 4.72% n.a. 5.76% United Fund, Inc. -a 3.701 6.55% 6.11% 2.37% 5.72% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 117.8499 7.82% 5.65% 2.39% 6.41% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $0.9753 0.24% 4.14% -0.37% 4.97% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3494 12.93% 9.47% n.a. 22.1% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5803 -3.87% -1.77% -4.02% -4.29% ATRAM Philippine Balanced Fund, Inc. -a 2.2286 1.83% 0.23% -1.13% 0.88% First Metro Save and Learn Balanced Fund Inc. -a 2.6357 4.75% 2.92% -1.3% 3.64% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2336 n.a. n.a. n.a. n.a. Grepalife Balanced Fund Corporation -a 1.33 2.38% n.a. n.a. 1.97% NCM Mutual Fund of the Phils., Inc. -a 1.9665 7.46% 3.48% 0.93% 6.7% PAMI Horizon Fund, Inc. -a 3.7991 8.29% 2.8% 0.12% 7.64% Philam Fund, Inc. -a 16.9988 7.62% 2.56% 0.03% 6.86% Solidaritas Fund, Inc. -a 2.1448 4.77% 2.4% 0.83% 3.65% 6.38% 3.69% 0.36% 6.27% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8801 Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.017 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 1.0002 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9978 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.983 5.88% 3.12% -0.64% 6.65% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03813 9.32% 2.96% 1.91% 8.02% PAMI Asia Balanced Fund, Inc. -a $0.9973 5.47% 3.96% 0.31% 9.15% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8514 10.96% 7.42% 3.55% 16.41% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1175 8.77% 4.48% n.a. 11.19% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 356.67 4.11% 2.79% 2.26% 3.84% ATRAM Corporate Bond Fund, Inc. -a 1.9276 4.08% 0.64% -0.35% 3.68% Cocolife Fixed Income Fund, Inc. -a 3.1098 5.11% 5.23% 5.22% 4.49% Ekklesia Mutual Fund Inc. -a 2.2123 3.99% 2.33% 1.77% 3.9% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3453 6.34% 2.05% 1.38% 6.36% Grepalife Fixed Income Fund Corp. -a P 1.6074 2.7% 1.3% -0.33% 2.75% Philam Bond Fund, Inc. -a 4.3358 11.09% 2.74% 1.42% 10.61% Philequity Peso Bond Fund, Inc. -a 3.7565 7.55% 2.63% 6.81% 1.38% Soldivo Bond Fund, Inc. -a 0.955 7.3% 1.45% n.a. 7.16% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0392 9.86% 4.76% 2.26% 9.89% Sun Life Prosperity GS Fund, Inc. -a 1.6807 9.34% 4.31% 1.73% 9.14% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $466.83 4.4% 2.61% 2.73% 4.11% ALFM Euro Bond Fund, Inc. -a Є219.68 3.42% 1.61% 1.35% 3.3% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2037 7.2% 3.04% 2.53% 6.93% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 4.03% 1.46% 1.29% 4.03% Grepalife Dollar Bond Fund Corp. -a $1.7094 1.38% -0.23% 0.13% 1.14% PAMI Global Bond Fund, Inc -a $1.0947 6.94% 1.19% -0.93% 5.64% Philam Dollar Bond Fund, Inc. -a $2.392 11.6% 3.35% 2.91% 10.19% Philequity Dollar Income Fund Inc. -a $0.0602211 5.78% 2.25% 1.95% 5.65% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1616 10.28% 2.77% 2.51% 10.08% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.5 4.22% 2.8% 2.15% 3.82% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0258 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.2505 6.14% 2.78% 1.62% 5.8% Sun Life Prosperity Money Market Fund, Inc. -a 1.2617 3.83% 2.86% 2.29% 3.49% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0359 2.1% n.a. n.a. 1.97% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.99 n.a. n.a. n.a. n.a. 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 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is August 1, 2019. 5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 7 - Adjusted due to stock dividend issuance last October 9, 2019. "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."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Finance dept welcomes House approval of realproperty valuation bill

HE Department of Finance (DOF) on Tuesday welcomed the approval by the House of Representatives of the real-property valuation reform (RPVR) bill, which seeks to generate additional revenues for local government units (LGUs). According to the DOF, House Bill 4664 may stimulate the realestate market, and haul in more investments from the private sector. Lawmakers pointed out this measure will also help speed up the implementation of President Duterte’s centerpiece initiative “Build, Build, Build” as the use of a new and uniform “schedule of market values,” or SMVs, on real property will address right-of-way (ROW) issues that at times delay the government’s acquisition of private lands intended for public infrastructure projects. HB 4664, also known as Package 3 of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration, proposes the following: the adoption of internationally accepted real-property valuation standards; the use of single valuation for land transactions taxation; the use of SMVs for ROW acquisition; and the strengthening of the valuation arm of the DOF-attached Bureau of Local Government Finance (BLGF). Last week, the Lower Chamber approved HB 4664 on third and final reading by a 224-vote and one abstention.

The DOF thanked particularly Rep. Mario Vittorio A. Mariño, chairman of the House Committee on Government Reorganization, and the other members of the House for the swift approval of this CTRP package. The DOF expressed gratitude to lawmakers for seeing “the urgency of passing the CTRP’s Package 3, which will generate additional revenues for LGUs, stimulate the real-estate market and haul in more investments.” The DOF asserted that Package 3 will broaden the base used for property-related taxes of national and local governments, thereby increasing revenues without necessarily imposing new taxes or increasing existing rates. The DOF expressed hopes the Senate will act on its version of the RPVR bill in the first half of 2020. In his State of the Nation Address last July, Duterte emphasized the need to improve the current valuation system as he called on Congress to immediately pass the proposed RPVR bill. Currently, LGUs are tasked with preparing an SMV, which is just one of many conflicting values currently used for various government purposes and private transactions. The SMVs are also often outdated and set without standard technical procedures, leading to an eroded real-property tax base for LGUs, the DOF explained.

Regulators want tougher anti-money laundering laws

INANCIAL regulators are pushing for legal changes in order to avoid the Philippines being placed on a global monitoring list for countries with weak antimoney laundering and terrorism financing controls. The government needs to implement the changes by October, or risk of being placed on a “grey” list

by the Paris-based Financial Action Task Force (FATF), the Philippines Anti-Money Laundering Council

(AMLC) said last Tuesday. That would impose additional restrictions on international banking transactions involving Philippine nationals, the AMLC said. It can also be a prelude to being placed on the FATF blacklist, which involves more serious penalties. In 2012, the Philippines narrowly missed being blacklisted after it criminalized terrorist financing and allowed quicker freezing of suspicious accounts. Since then, the country has tightened up on various areas, including transactions by casinos and jewelry traders. Among the other legal changes

sought by the AMLC include the following: expanding the body’s investigative powers; requiring realestate developers, brokers and sales agents to perform customer due diligence, record keeping and suspicious transaction reporting; bringing tax crimes and trade in materials used for nuclear weapons under the anti-money laundering framework; implementing targeted financial sanctions for terrorism and terrorism financing; and criminalizing financing of terrorist travel and of foreign terrorist fighters under the nation’s Human Security Act. Bloomberg News

Veterans Bank reverses 2018 losses with P505-M profit in Q3

HILIPPINE Veterans Bank (PVB) reported a strong thirdquarter net income of P504.6 million, a 28.44-percent return on equity (ROE)—one of the highest in the banking industry, the PVB said. The net income figure has already exceeded the bank’s full-year target of P500 million and is the highestrecorded third-quarter net income level since the bank reopened in 1992. The third-quarter results show a complete financial turnaround from a net loss of P574 million for the full year of 2018. The robust net income results were driven mostly by the bank’s

Social media and the economy

Wednesday, December 4, 2019 B3

reviews online because not all HERE is now a popular are reliable. Two years ago, beterm called “socialnomfore going up to Baguio, we were ics,” which is invading trying to look for the best places the digital world and can prove eat and we happen to read a beneficial to businesses. Finex free to travel blog which suggest these It is a people-driven economy, enterprise particular places to eat. Those which is taking over the digital were big disappointments, so we space and is more popular in went back to the restaurants we terms of its reach compared to Wilma Inventor-Miranda always know and which we freinternet advertising and the traquented in Baguio to eat, and promised ourselves ditional advertising on TV, radio, newspaper and not to rely on travel blogs anymore, especially other forms of media. from people whom we do not know. Socialnomics media channels can be through For places to see and what food to eat, we also Twitter, Facebook, Messenger, Viber, texts, take into account those posted on Instagram by e-mails, Instagram, etc. The more popular ones friends. We can also chat or send them personal in 2018 are: Facebook with 2.23 billion, YouTube message if we want to know more about a place. at 1.9 billion, Instagram reaching 1 billion with So social media is no longer just for the young the next at a poor fourth at 376 million, based ones, but also to the “young once.” on a survey by dreamgrow.com updated on NoIt can also be a form of recreation and an outvember 20, 2019. let for those who are confined in their homes or The power of social media was evident in the hospitals because of sicknesses. They can easprevious elections when Barack Obama became ily communicate with their friends and update the 44th President of the United States through them of their physical condition. In fact, many maximizing the use of social media. Our very are trying to teach their old people at home how own President Duterte’s popularity during last to use Facebook or Instagram so they can see elections was beefed up by their campaign group updates of their family members. Parents also utilizing the social media by flooding the sites joined Facebook and Instagram so they can see with their comments in favor of the President. the activities of their children and the latter are Definitely, social media became a powerful tool also making sure they do not misbehave or it can in changing not only the political landscape but be post online. also the way of doing and promoting business. That is why in the recent survey, it shows that The big question now is why is social media social media, particularly Facebook, YouTube and becoming exponentially popular? In his book, Instagram, are gradually invading the business Socialnomics, Erik Qualman even wrote that inworld and the economy as a whole. These form ternet advertising will soon be antiquated, unless of media benefits not only those who have prodthey revolutionize to maintain their market share. ucts to sell, but the consumers, as well, since it People do not want interruptive advertising and spam filters, and popular blockers can easily presaved them a lot of time in terms of deciding what to buy or where to eat, etc. Instead of spending vent these advertisements from getting through time browsing through other sites, their social to consumers. networking sites can easily provide these with But people usually respond to people whom the large information being shared on these they know and can give them reviews and suggessites nowadays, as told in the same book of Eric tions on what product to buy. And social media Qualmann on socialnomics. is not a waste of time, if used properly. Allowing And according to the aforementioned author, it people to see the personal side of you (although is not just a word of mouth but a “world of mouth,” you also have to limit what to show to your friends) since we are communicating to people and friends unknowingly builds a bond between you and your all over the world. And what better way to create friends who follow you and those you are following. a bond of friendship than through social media. For instance, when you are waiting in a long Further, what better way to revolutionize your line, whether at the grocery or cinemas, or waiting brand than through these sites? When handled for your driver’s license to be released, you open properly, socialnomics will invade not only our your Facebook and you happen to see that you are economy, but all aspects of our lives, as well. We invited to an event for tonight, and you want to just have to be careful what to allow in our pergo—so before you go home, you bought a gift or sonal and social lives. ask a friend who has a boutique to wrap a dress for you and deliver it to your house. You also want to buy a book online, but not sure Wilma Inventor-Miranda is a managing partner of Inventor, if it is good so you ask your friends in Messenger Miranda & Associates, CPAs, chairman of the media affairs committee or in Facebook if it is worth your money and your of Finex, member of the board of directors of KPS Outsourcing Inc. The time to buy this book. People will rely more on the views expressed herein do not necessarily reflect the opinion of these comments of their friends, rather than read the institutions and the BusinessMirror.

lending business from both corporate and retail loans. Net total loans was pegged at P21.29 billion, as against P18.74 billion year-onyear. Total deposits grew by 11 percent from P45.4 billion as of third quarter last year to P50.6 billion. As a result, total assets also grew to P57.03 billion, from P50.78 billion YOY and P49.3 billion at 2018 year-end. As a result, the bank’s Capital Adequacy Ratio was at 10.63 percent. “We are finally reaping the benefits of the major reforms in the areas of operations, compliance and risk management, which were our focus

since 2014 when I came in as chairman,” Roberto F. de Ocampo was quoted in the statement, as saying. “Now that many of these reforms are in place, the bank has directed its efforts on business development, enhancing, and developing new products and services. The third-quarter results show not only a significant rise in net income, but the highest levels in deposits and loans ever for the bank.” For his part, PVB President Renato A. Claravall said “this year’s unprecedented growth levels show that all the hard work and sacrifice were worth it.”

“Our primary mission is to give value to our shareholders—the families of Filipino WWII [World War II] veterans,” Claravall added. “And the best way to give value is to deliver above market ROE.” The PVB is owned by some 384,000 Filipino WWII veterans and their designated heirs. As part of its mandate, PVB provides assistance in WWII veteran’s endeavors, such as the Board of Trustees of the Veterans of WWII. It manages programs for the benefit of the veterans, their widows, orphans and heirs. These include the BTVWWII Museum and the BTVWWII Outpatient Center.

Making money in China’s bond market a challenge for sovereign bond traders

AKING money in a market that moves so little has become a key challenge for China’s sovereignbond traders. With 10-year notes trading in the narrowest range in seven years, investors are casting their nets far and wide to enhance returns. It’s policy bank bonds for JP Morgan Asset Management and PineBridge Investments Asia Ltd., dollar-denominated debt for Nissay Asset Management Corp. and convertible bonds for Morgan Stanley Huaxin Fund Management Co. China’s 10-year yield has fallen just 11 basis points this year, missing out on a global rally that in August took the world’s stockpile of negative-yielding bonds to a record $17 trillion. The People’s Bank of China helped trigger a sell-off in October when it effectively withdrew liquidity from the financial system, but bonds have since stabilized following a series of unexpected policy-rate cuts and cash injections. But that wasn’t enough to spur a rally: the central bank signaled this week it will continue to refrain from large-scale easing. A supply surge in local government notes is also concerning traders. The following are how some investors are navigating the market.

Policy bank bonds

CHINA’S quasi-sovereign policy bank notes—particularly in the three-year tenor—are worth considering, says Jason Pang, a fixed-income portfolio manager at JP Morgan Asset Management. The bonds are in a “sweet spot” as they benefit from any liquidity injections, and still provide a decent yield above 3 percent and greater roll-down returns, he said, referring to the strategy of selling a note as it approaches maturity. Arthur Lau, head of Asia excluding Japan fixed income at PineBridge Investments, also prefers policy bank bonds, as the notes have higher yields than sovereigns. He favors them in five- to sevenyear tenors.

Dollar-denominated debt

TOSHINOBU Chiba, chief portfolio manager of fixed-income investment at Nissay Asset Management, took an overweight position in dollar-denominated China credit in October, and sold Chinese

Elderly investors monitor price movements and make trades at a stocks exchange house in Shanghai, China.

government bonds after consumer prices rose by the fastest pace since 2013 in September. He’s looking to buy China dollar bonds, with a view that the central bank has little room to ease monetary policy, if inflation remains high. He says dollar corporate debt will remain attractive in the coming six months, with rising demand for it signaled by a tightening credit spread.

Investment-grade credit

WHILE Pictet Asset Management Ltd.’s Head of Greater China Debt Cary Yeung is still positive on Chinese sovereign bonds, he’s also a fan of onshore investment-grade credit for its “low volatility, decent carry and stable” fundamentals. He likes short-dated high-yield bonds issued by property companies, as the sector’s sales have been doing well, and it might see more favorable policies in the future.

Derivatives and others

LI YI, a fund manager at Morgan Stanley Huaxin, whose onshore China bond fund has outperformed 95 percent of peers over the past three years, says to “pay attention to convertible bonds, treasury bond futures and other derivatives to enhance returns.”

Better year FOR Manu George, a fixed-income director at Schroder Investment, the current yield of Chinese sovereign debt is already attractive and he has taken a long position. China bonds are likely to see a better year in 2020, he says. The yield on China’s 10-year sovereign bond was down 1 basis point at 3.2 percent as of 4:55 p.m. local time. Bloomberg News

B4 Wednesday, December 4, 2019

December is packed with presents at the Bellevue Manila!

HIS season of giving, The Bellevue Manila is gifting guests a month’s worth of treats and deals to truly make Christmas the most wonderful time of the year! Book a three-night stay at The Bellevue Manila until December 20 and enjoy exclusive holi-deals for only Php 15,888 nett! This Christmas special includes a daily breakfast for two, Php 1,000 credits each for Cafe D’Asie and Azurea (to be used during your stay), complimentary shuttle services within the Alabang Commercial District, 10% discount on laundry services, free access to PressReader (digital newspaper), free use of the pool and gym, a special gift from the hotel, and more. Make sure those tummies are ready because December also has plenty of gastronomic adventures in store for you, beginning with a special Christmas and birthday gift for December celebrants— dine at Café D’Asie for free throughout the whole month when birthday celebrants take part in the buffet specials with three companions. To further get guests in the festive yuletide mood, Café D’Asie will have a buffet featuring Christmas Specialties from Around the World every Monday, Wednesday, and Friday from December 9 to 23, followed up by a delightful

Christmas Eve Dinner on December 24 and a Christmas Day lunch and dinner buffet. Finally, cap off 2019 in the best way by joining the New Year’s Eve buffet on December 31, and start off fresh and full by welcoming 2020 with a bang at the New Year’s Day buffet! Don’t miss Pastry Corner’s Cake of the Month—the Yule Log, made of almond sponge cake and tiramisu cream mousse filling, and exciting Goodies of the Month: Ginger Bread House, Choco Santa, Mini Fruit Cakes, and Stolen Breads to keep

the holidays fun and sweet! For guests who need a holiday twist to their caffeine fix, the Santa Claus Frappe, made with a cool blend of espresso, toffee nut syrup, and strawberry, and the hot espressochocolate Christmas Tree Latte is the musttry Coffees of the Month. For a caffeinefree holiday drink, the pistachio-flavored Christmas Delight is a great choice; while the Vue Breeze’s combination of Toska vodka with pineapple, cranberry, and lemon juices makes for a refreshing cocktail perfect for Christmas parties!

Sun Grepa Power Builder 100 Debuts for Young Professionals

UN Life Grepa Financial, Inc. (Sun Life Grepa) launches the Sun Grepa Power Builder 100, an affordable investment-linked life insurance product ideal for young professionals. With coverage of up to 100 years old coupled with its investment-linked feature, this makes it an ideal companion in one's financial journey as he begins taking control of his finances. As a Variable Life Insurance plan, Sun Grepa Power Builder 100 enables a client to grow his money over time through its investment fund options that cater to various risk appetites and financial objectives. Aside from providing security and investment opportunity, Sun Grepa Power Builder 100 allows one to customize his protection plan through the addition

of optional coverage and benefits. "Sun Grepa Power Builder 100 is very special for us because it paves the way for those who are starting up with their journey to financial freedom. Its affordability, coupled with the security it offers and the chance to grow one's money makes it suitable for everyone who wants to commit to lifetime financial protection for themselves and their loved ones," says Richard S. Lim, President of Sun Life Grepa. To make things more convenient, clients can pay for their premiums through various methods like, autodebit or auto-charge arrangements for RCBC bank account holders. This is in addition to paying at any of Sun Life Grepa’s payment centers. Clients can

also opt to pay quarterly, semi-annually, or annually whichever suits them most. Lim added that, “With Sun Grepa Power Builder 100, we hope to offer Filipinos with a product that helps them get started toward financial independence.” Avail of Sun Grepa Power Builder 100 for as low as P51.63 per day (based on 25-year old male, non-smoker profile with 1M coverage) To learn more about Sun Grepa Power Builder 100, ask a Sun Life Grepa financial advisor by calling (02) 8-8499633. Clients may also visit any RCBC or Sun Life Grepa Financial branch or simply send an email to marketing@ sunlifegrepa.com. Log on to www. sunlifegrepa.com

Taiwan Bubble Tea Pavilion empowers Davao business owners to ride on the bubble tea craze

HE “bubble tea craze” has taken over the country and Davao City is no exception. With more and more people clamoring for this drink, business owners need not only top quality raw materials, but also highly responsive aftersales support from the best manufacturers and suppliers in Taiwan. For this to happen, the Taiwan External Trade Development Council (TAITRA) held the Taiwan Bubble Tea Pavilion at the Taiwan Expo 2019. It was held last November 8-9, 2019 at the SMX Convention Center Davao. The special exhibition featured member companies of the Taiwan Bubble Tea Alliance which aims to unify and boost the collective strength of over 125 bubble milk tea vendors and industrial firms. With a theme "Taiwan Bubble Tea, Bubble Up Your Life!," the exhibition and business conference gave

Fans, business franchises, and startup entrepreneurs alike the latest bubble tea products from Taiwan. Local business owners, buyers and customers from Davao and Mindanao regions lined up for the demonstrations and sampling held at the bubble tea booth. Bubble tea aficionados cited the difference in quality of the tea and pearl products from the exhibitors. Highlighting different fields of the bubble tea industry are three alliance members-Good Young Co. Ltd., Mr. Sun International Tea Chain Co. Ltd. (Red Sun), and Great Eastern Food Co. Ltd. Good Young, known for its line of milk tea powder, flavor syrups, and the ready-mix CASA Milky Flavor Tea and CASA Black Tea offers taste design, private labeling, OEM customization, and production technology training. Meanwhile, Red Sun, known for ts handmade tapioca balls or pearls, offered its franchise services

to business owners in attendance. Great Eastern showcased its 3Q Jelly Pearl, a pearl product made from naturally extracted Konjac, natural seaweed, sugar, pectin, and Guar gum. It boasts a low-calorie count of only 70kcal/100g and can be widely used in various beverages. Through the Taiwan Bubble Tea Pavilion, business owners and buyers at the Taiwan Expo 2019 got to see the integrity of the overall supply chain in the Taiwan bubble tea industry. At the end of the event, at least 35 Davao business owners have expressed interest in partnering with the Taiwan Bubble Tea Alliance for future endeavors. There were also numerous inquiries from other visitors about franchising popular bubble tea brands as well as establishing new concepts to make more Taiwan bubble tea products for the Filipino market. Both the Taiwan Bubble Tea Alliance and TAITRA are hopeful that this event could start more partnerships with Filipino entrepreneurs and allow business owners to connect with industry-leading Taiwan suppliers for potential partnerships. To learn more about the Taiwan Expo 2019 and the Taiwan Bubble Tea Pavilion, contact the Taiwan Trade Center Manila hotline at (02) 551-7281/5517349/551-7339 or visit the TAITRA Manila website at https://manila.taiwantrade. com/. Like and follow the TAITRA Manila Facebook page (https://www.facebook.com/ taiwantradecentermanila/) for more updates.

Fortune Life holds a special block screening for charitable cause

ITH the support of ALC Group of Companies, Fortune Life Insurance Company held its very first special block screening of Disney’s Frozen II last November 23 at Greenbelt 3, Cinema 3, Makati to help fund its charitable activities. This is in line with the company’s journey to 35th anniversary activities. The event was made possible by the following sponsors: AAA Southeast Equities Inc., Aliw Broadcasting Corporation, Business Mirror, Isuzu Gencars, Inc., Manila Grand Opera Hotel and PAMIOFW Management Service and Insurance Intermediaries Inc. (platinum); Citystate Properties & Management Corporation (gold); Eastern Defender Security and Protective Services Inc., Eternal Gardens, MaryLindbert International (silver); Brown Madonna Press Inc., Citystate Tower Hotel, Citystate Savings Bank, Clayton Learning Center Philippines Inc., Eternal Plans Inc., and Fortune General Insurance Corporation (bronze).

For the month of November, the company extended its outreach programs to persons with disabilities of Tahanang Walang Hagdanan, Inc. (TWHI) in Cainta, Rizal and to 8-9 year old Grade 3 interschool students of Tahanan Outreach Projects and Services (TOPS) in Sta. Ana, Manila. More charitable activities will be held in the following months. “Fortune Life wholeheartedly extends our gratitude to all who supported this event, for sharing their blessing thus blessing others in need”, executive vice president and general manager, Ms. Evelyn T. Carada said. Raffled during the short program were gift items from Business Mirror, PAMIOFW Management Service and Insurance Intermediaries Inc., Citystate Properties & Management Corporation and Fortune Life. Families specially kids were all smiles while they enjoyed the movie about the amazing adventure into the mysterious forest of Elsa, Anna and their fearless friends.

Run for women empowerment

TAKEHOLDERS from the ports and logistics industry, clad in distinctive pink singlets, joined an early weekend run recently to promote greater inclusion and gender diversity. Listed port operator Asian Terminals Inc. (ATI) organized the event held at the historic Luneta Park with the theme Takbo para sa Kababaihan, Kalusugan at Kasaysayan in

celebration of the global diversity and inclusion month this November. Employees of major shipping lines, forwarders, importers and exporters, customs brokers, ATI, Bureau of Customs and Philippine Ports Authority joined the run which was also anchored on health, wellness and history, which serve as important components of inclusive industry growth.

Dunkin’ donuts gives ‘aguinaldo’ in every cup

S children, the joy and excitement we feel during the Christmas season can be encapsulated in one word: aguinaldo. The term refers to gifts received, specifically, during the holidays. As grownups, we find ourselves on the other side of giving with younger relatives now expecting their presents from us. However,

no matter how old we are, there is always a child within us who is giddy with happiness when we receive an aguinaldo. Fortunately, this holiday season, you can have that “just got a gift” feeling every day with the Dunkin’ Donuts Aguinaldo In Every Cup promo. Every time you purchase one 12-ounce cup of hot or iced Dunkin’ Coffee, you have a chance to instantly win a Free Classic Donut or cash--P500, P1,000, P5,000, and for the lucky ones who will surely have a Merry Christmas, P20,000. To get your Aguinaldo, peel the perforated coupon found on the side of your Dunkin’ Coffee cup that says “Open your Holiday Surprise!” and “Peel Here.” It’s best to do this after finishing your drink because the excitement might make you spill it.

THE RIZAL HIGH SCHOOL (RHS) Batch ’78 will hold a Christmas Party on December 14, Saturday, at RHS Gymnasium. Fun starts at 1 p.m. onward. Attendees will be required to pay P150 for membership and P100 for ticket, prizes at stake—three major prizes— E-Bike; 40” LED TV; OPPO 8 5’s, ten minor prizes (small appliances/kitchen wares) and ten consolation prizes (grocery items). For ticket reservations you may contact Ms. Edith Tadina-Tolentino, auditor and RHS Batch ’78 president Agnes Deus Salazar; Vice President-Roy Clarissa; Secretary-Celestina Boncay; Assistant Secretary-Yolanda Jamito; Treasurer-Ernesto Ermino; Assistant Treasurer-Gregorio Tinio; PRO-Cornelio Ramos; Business Manager-Nelson Yabut; Ex-Officio Joscelyn Mendoza. Good luck to all and God bless, Merry Christmas.

Sports BusinessMirror

| Wednesday, December 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FILIPINA WARRIORS IN ACTION By Ramon Rafael Bonilla

GATHA WONG was beauty and grace in action in her gold medal-winning performance—her second in the 30th Southeast Asian Games—in wushu’s women’s taolu taijijian on Tuesday, at the World Trade Center, in Pasay City. Wong has since been bothered by body pains in her first event but showed none of them in her 9.65-point gold medal act, beating of Thi Minh Huyen (9.63 points) of Vietnam and Basma Lachkar (9.62 points) of Brunei Darussalam. It was a sweet victory for the 21-year-old Wong as she followed up on her victory in taolu taijiquan last Sunday. Wong clinched only a silver in taijijian in Malaysia, two years ago, but she made sure she won the top prize this time before her countrymen. “I didn’t expect to win today. Winning my event two years ago was already enough. I’m very thankful to have represented the country and I hope I made the country proud,” Wong said. The trio of Johnzenth Gajo, Jones Inso and Thornton Sayan, meanwhile, earned the bronze medal in men’s taolu duilian also on Tuesday.

SISI-BERNADETH DUO KEEPS FIGHTING

POWERHOUSE Thailand remained unscathed but the Thais had to labor in the first set before subduing their rivals from the Philippines in women’s beach volleyball action at the converted Subic Bay Tennis Court, on Tuesday. Sisi Rondina and Bernadeth Pons sent a strong message before yielding to Thais Varapatsorn Radarong and Khanittha

Hongpak, 26-24, 25-15. Dzi Gervacio and Dij Rodriguez sought payback but their effort was not enough against Rumpaipruet Numwong and Tanarattha Udomchavee to yield, 21-16, 21-14, as rain wrought by Typhoon Tisoy started to pour. “The Thais get tougher when the going gets tough,” Rondina said. “It was a learning experience and we were able to test ourselves against tough opponents.” The defending champion Thais kept their record unblemished at 4-0, while the Filipinas slid to 2-2. The hosts now need to beat the Singaporeans in straight sets to bag the bronze medal. “A medal is at stake so we will be ready for Singapore,” Rondina said. The Philippines-Singapore match is set on Friday.

YOUNG POTENTIAL IN PENCAK SILAT MARY FRANCINE CEzar PADIOS is the youngest and least experienced in the field but she made a statement with her podium finish in pencak

silat’s women’s tunggal on Tuesday at the Subic Bay Exhibition and Convention Center. Padios garnered 454 points and clinched silver behind Indonesia’s Puspa Arum Sari, who won her first SEA Games gold medal with her 467 points she amassed through superb accuracy and finesse. Anisah Najihah Binti Abdullah of Brunei took the bronze with her 451 points. “It’s awesome. It’s amazing for me because it’s the second time I joined the SEA Games and finally I get the gold,” Sari said. Padios’s silver medal was the Philippines’s third and last medal in the artistic demo category of the sport. Edmar Tacuel snared gold in men’s tunggal and so did brothers Alfau Jan Abad and Almohadab Abad. A daughter of a lawyer and a businesswoman, Padios is still on the national juniors team but the Philippine Pencak Silat Association has long trusted Padios’s skills. The 16-year-old Grade 10 student from Kalibo in Aklan, didn’t disappoint. “I’m happy because I did not only clinch a medal but I was able to compete against my idol [Sari],” Padios said.

FILIPINA athletes Bernadeth Pons (beach volleyball), Agatha Wong (wushu), Mary Francine Cezar Padios (pencak silat) and Lara Posadas (bowling) take center stage in the 30th Southeast Asian Games. NONIE REYES, ROY DOMINGO AND NONOY LACZA

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Business

Wednesday, December 4, 2019

CHEF DE MISSION COMMENDS PHL BETS’ STRONG PERFORMANCE

PHILIPPINE Sports Commission Chairman William Ramirez says Team Philippines is performing magnificently in the face of world-class foes.

yphoon Tisoy could do little to bother the national athletes as Team Philippines Chef de Mission and Philippine Sports Commission Chairman William Ramirez commended the strong showing of the Filipinos after three days of competition at the 30th Southeast Asian Games. “After three days of intense competitions, and with Team Philippines performing magnificently in the face of worldclass foes, I would like to send my message of congratulations to all who fought valiantly to uphold

national pride,” Ramirez said. “We are riding on this positive wave and continue to hope that we can sustain this good performance,” the sports chief added. The strong typhoon, which forced organizers to cancel or delay some indoor and outdoor games, wrought havoc in the eastern part of the country and is expected to continue its destruction until Thursday. At the Southern Luzon cluster, games are canceled in cycling, indoor hockey and netball, while

matches in floorball, badminton, fencing, football, gymnastics, tennis, weightlifting, wushu and volleyball were also affected. Organizers kept monitoring the situation on rugby 7s, archery, arnis, athletics, wrestling, kurash, baseball, softball, lawn bowls and waterpolo. The Philippine Southeast Asian Games Organizing Committee promised to implement contingency plans to the affected sports. Ramirez, on the other hand, assured that team officials are

attending to the needs of the national athletes. “Our deputy chefs de mission have been doing the rounds in their respective clusters to ensure that all requirements of our team are met and they are given moral, logistical, medical and technical support,” he said. “We still have many days of battle ahead of us, but I remain steadfast in my belief in our national team. I know they are intent on delivering pride and honor to our country,” Ramirez added. Ramon Rafael Bonilla

STRONG FINISH IN ARNIS T

HE Philippines bagged two gold medals in nontraditional open weapon to dominate the arnis competitions of the 30th Southeast Asian Games in Angeles, Pampanga. Crisamuel Delfin and Mary Aldeguer victories in the men’s and women’s divisions, respectively, highlighted the host country’s dominance of the traditional Filipino martial art that made a comeback to the Games after an absence of 14 years. Delfin,

garbed in a native Igorot costume, beat Van Huynh of Vietnam for the gold medal. Yar Zar Tun of Myanmar and Sila Chhem of Cambodia clinched bronze in the event. Aldeguer also made her mark by

beating Thi Hoai Trieu of Vietnam for the gold and relegating Naing Shellar Mie of Myanmar and Soumali Eng of Cambodia to the bronze. In the traditional event, Duc Tru Do of Vietnam got the gold in the men’s division while Eilan Dray Phoo of Myanmar was awarded the same color in the women’s contest.

The Philippines’s Mark David Puzon settled for the bronze medal while Be Be Kyaw Aung of Myanmar and Sila Chhem of Cambodia took bronze. Ryssa Jezzel Sanchez of the Philippines took runner-up honor in the women’s side, while Puong Lihn Bguyen of Vietnam and Su Mala Eng of Cambodia got bronzes. All in all, the Philippines captured 14 of the 20 gold medals up for grabs in arnis.

HOTELS ON ALERT FOR ‘EXTENSIONS’ By Ma. Stella F. Arnaldo

Special to the BusinessMirror

HE Philippine Sports Commission (PSC) is expected to pay for any extensions on hotel room accommodations in case athletes have to stay longer, as some events at the 30th Southeast Asian Games have to be rescheduled due to the uncooperative weather. “They [the athletes] will still use their rooms,” said Christine Ann Ibarreta, president of the Hotel Sales and Marketing Association Inc. in an interview with the BusinessM irror. “PSC will pay if there are revisions or addendums [in the room bookings].” Several parts of Luzon and the Visayas were lashed by Typhoon Tisoy (international code name Kammuri) on Tuesday, leading to cancellations of a number of SEA Games events. Ibarreta also said the hotels already have a contingency in place in case new guests arrive, who are expected to use those rooms occupied by the athletes. She said if a hotel has no more rooms available for the arriving new guests, they will be booked in other hotels who can accommodate them, at same rate they paid for in their original hotel. “Once they book, the rates are the same,” she underscored. Tourism Undersecretary Benito C. Bengzon Jr. said in a news briefing on Monday that hotels are ready for any contingency. There are some 4,000 athletes and guests booked in 44 hotels in the National Capital Region and Clark. The rest are living in the Athletes Village at the New Clark City in Tarlac.

As this developed, the Department of Tourism (DOT) launched on Tuesday a dedicated tourism Web page for SEA Games visitors. Tourism Secretary Bernadette Romulo Puyat said the SEA Games provides the perfect opportunity to showcase the best of the Philippines in a “very accessible manner.” Around 11,000 visitors from neighboring countries are expected in the duration of the Games. Through the tourism microsite philippines.travel/seagames2019, “The soonest they step in the country, our guests already have a glimpse of what the Philippines has to offer,” said the DOT chief in a news statement. “What we want to show them is that all these sporting hubs they have visited and the Filipino hospitality they have experienced, is just a fraction of the fun that awaits them in the country.” She added, “They can now experience first-hand the culture of sustainable tourism that is making Philippines a preferred destination among visitors. With the tourism web site that we have just launched, their Philippine destination on their wish list is just a click away.” The tourism microsite will help SEA Games visitors— both foreign and local—to explore the country while keeping abreast of SEA Games information. Featured on the microsite are various sports activities, the Philippines’s cultural heritage sites, beaches, local cuisines and products, among other uniquely Filipino offerings.

CARLOS YULO could not win them all—he wins gold in his favorite floor exercise but settles for the silver medals in the pommel horse and vault. NONIE REYES

By Ramon Rafael Bonilla

AYBE it’s the typhoon, or fatigue from big tournaments and the long travels. Maybe it’s the pressure, the unfamiliarity of seeing his own countrymen cheering loudly from the stands. Or the food he ate? Or did he lack sleep? Whatever the reason, Carlos Yulo’s performance on Tuesday in men’s artistic gymnastics is a reminder that you can’t have them all. Advertised as a strong contender to sweep all his events, Yulo was struck with misfortunes when he claimed just one of the three gold medals at stake on Tuesday at the Rizal Memorial Sports Coliseum. The world champion did what was expected of him in his favorite event, floor exercise, when he scored 14.700 points to outclass Tikumporn Surintornta of Thailand (13.833 points) and Zul Bahrin Mat Asri of Malaysia (13.767 point). It was his second gold in the biennial event after topping the individual all-

Polo team in pinning on fa

Tour packages include guided cultural tours and dining with entertainment shows in Manila; private resorts in Laguna; heritage tours and nature exploration in Ilocos region and Zambales; beach and diving activities in Batangas, adventure and recreational activities in Pampanga and Tarlac, and many more. Romulo Puyat has also directed the DOT’s regional offices to ensure that all tourism counters in airports and hotels where the SEA Games delegates are billeted, can provide information on nearby destinations and to assist interested parties in their purchases. The microsite is powered by DOT’s official partner Guide to the Philippines (guidetothephilippines.ph), an online marketplace formed by various DOT accredited tour operators. It offers special tour packages with promotional rates that are available only for the duration of SEA Games. “Aside from the web site, we are also here to assist our guests and athletes to ensure the best tourism experience possible, and to contribute to the smooth implementation and success of the SEA Games in general,” she stressed. The Games will end on December 11.

Crisamuel Delfin and Mary Aldeguer highlighted the host country’s dominance of the traditional Filipino martial art of arnis. ROY DOMINGO

he Philippine team hopes to use its field familiarity to its advantage when it battles dangerous Malaysia today in the 0-2 goals division of polo competition in the 30th SEA Games at the Miguel Romero Field in Calatagan, Batangas. “They have been practicing at the field longer than anybody so it will factor in their game. They know in and out of the field,” said one tournament

Swimmers try to end 10-year gold-medal drought

HE country tries to end a 10-year dry spell as Filipinos tankers spring into action on Wednesday at the start of the 30th Southeast Asian Games swimming championships at the impressive New Clark City Aquatic Center in Capas, Tarlac. The last time Philippine tankers won in the SEA Games was way back in 2009 when Miguel Molina won a pair in the men’s 200 and 400-meter individual medley while Daniel Coakley and Ryan Arabejo had one each in the men’s 50-meter freestyle and men’s 1,500-meter freestyle, respectively. There will be seven golds at stake in Day 1 of swimming, with Filipino-Americans James Deiparine and Remedy Rule seeking to break that drought, being among the favorites in their respective events. The heats begin at 9 a.m. while the finals start at 6 p.m. Between them, Rule gets first crack as she competes in the women’s 200-meter butterfly heats at 9:35 a.m. while Deiparine, a double silver medalist in the 2017 Malaysia SEA Games, takes to the pool at 10:10 a.m. in the men’s 100-meter breaststroke heats. A University of Texas varsity mainstay, Rule holds the national record in the 200 fly of two minutes and 11.38 seconds set last July in the

Some of the Philippines’s best candidates to end a 10-year drought in the Southeast Asian Games. From left: Nicole Oliva, Jasmine Alkhaldi, James Deiparine and Remedy Rule.

world swimming championships in Gwangju, South Korea, which is faster than the gold-medal time of 2:12.03 set by Singapore’s Quah Jing Wen in the 2017 Malaysia SEAG. Deiparine, who bagged two silvers in Kuala Lumpur two years ago, also holds the PHL mark in the breast stroke of 1:02.00, slightly off the winning time of 1:01.76 booked by Indonesia’s Nathaniel Gagarin in the 29th edition of the sportfest. The former California Polytechnic University swimming ace narrowly lost by a touch to the Indon in his SEAG debut, settling for silver in 1:02.76. Rule will also see action in the women’s 100-meter freestyle heats, joining two-time Olympian

Jasmine Alkhaldi in the heats at 10:20 a.m. Fellow Olympic veteran Jessie Khing Lacuna and US-trained Miguel Barreto open the PHL" campaign in the men’s 400-meter freestyle at 9 a.m. Barreto will also compete in the men’s 1,500-meter freestyle. Others seeing action for the country are Jonathan Cook (men’s 100-meter breast stroke), Jerard Jacinto and Jaden Olson (men’s 100-meter backstroke), Jean Pierre Khouzam, Barreto, Lacuna, Maurice Sacho Illustre (men’s 4x200-meter relay), Rosalee Sta. Ana (women’s 200 fly) and Chloe Isleta and Xiandi Chua (women’s 200 individual medley).

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sMirror

Wednesday, December 4, 2019

SWEEP ELUDES YULO around last Sunday. Performing first in his next two events—pommel horse and still rings—Yulo looked good with nearperfect routines and was poised to complete a golden treble for the day. But the 19-year-old, who just arrived last week from another set of rigorous training in Japan under the watchful eyes of Munehiro Kugimiya, faced heavy opposition as a Malaysian and a Vietnamese quashed the party inside the refurbished iconic venue. Yulo tallied 13.233 points to fall behind gold medalist Fu Jie Tan of Malaysia (13.967 points) in the pommel horse. Phuong Thanh Dinh of

0-2 goals division amiliarity with field official, who is also a polo enthusiast. The same official, however, emphasized that anything can happen in the 0-2 goals division since most of the players have almost the same handicaps. “That makes today’s matches more interesting,” the tournament official added. Weather permitting, the PHLMalaysia match begins at 1 p.m., while the Brunei-Indonesia showdown is scheduled at 11 a.m. The matches were initially scheduled yesterday, but officials decided to move it today due to Typhoon Tisoy. Comprising the PHL team are Jose Antonio Veloso, Noel Vecinal, Benjamin Eusebio, Julian Garcia, Franchesca Nicole Eusebio, Stefano Juban and Rep. Mikee Romero. Expected to lead Malaysia is 18-year-old Keith Teh and 50-year-old Mohamad Zekri Ibrahim. Prince Jeffri Bolkiah, 65, spearheads Brunei squad along with Prince Qawi, while Indonesia will be backstopped by Billy Lumingtang and Acep Krisnandar.

disheartened after the result. “Not satisfied. Hindi naman kasi ako nag-e-expect ng kahit ano,” he added. The Tokyo Olympics-bound gymnast, however, thanked the fans who braved Typhoon Tisoy. “Gusto ko lang po magpasalamat sa kanila kasi nanood pa rin sila,” Yulo said. Last Sunday, Yulo topped the pommel horse and still rings, and also the horizontal bars. He

Vietnam finished third with 12.867 points The Manileño, who once shared he was close to quitting the sport with frustrations on the rigid training and from being away his family, tallied 13.733 points for another bridesmaid finish in the rings. Nam Dang of Vietnam claimed the gold with 13.867 points. “[I’m] not actually aiming for medals, I just hoped for good routines and executions. That’s all,” said Yulo, who was obviously

lready blessed with an imposing frontline, Gilas Pilipinas Coach Tim Cone yesterday picked 7-footer Greg Slaughter to complete the Philippine team roster on the eve of its opening game in the 30th Southeast Asian Games, at the Mall of Asia Arena. Slaughter, who took the slot of three-point specialist Roger Pogoy gave up due to a back injury, adds more ceiling and teeth to the defending champion team that will start its bid for a 14th straight men’s basketball title at 8:15 p.m. against Singapore. “I’m very happy to be playing for the national team again especially on home soil,” said the tallest player of the Philippine Basketball Association, who played one game for Gilas last year during the Asian qualifier to the Fiba World Cup under Coach Yeng Guiao. A broken finger had cost the Barangay Ginebra San Miguel center what looked like a sure Gilas when Cone first announced the national team lineup. Then the injury of Pogoy gave him another chance to team up again with the country’s crack big men for the SEAG campaign

Why the blazing start? Al Mendoza alsol47@yahoo.com

THAT’S ALL SEVERAL friends of mine were surprised over our blazing start in the 30th SEA Games. Not me. Normal. Nothing unusual there. The whopping 23 gold medal haul in Day One was just another day in the office.

Amazing, indeed, but only when that is compared with our usually anemic start in the previous editions of the biennial meet, the last one in 2017. With that bountiful opening day harvest, the Philippines suddenly saw itself wonderfully ahead by 13 gold medals over Vietnam, the

placed second in vault and para-llel bars behind two Vietnamese, but he had the biggest points overall to claim gold. He could redeem himself though on Wednesday in the vault, parallel bars and horizontal bars.

Filipino golfers brace for tough fight in Luisita

he 55-player field braces for a tougher, challenging start in golf competitions of the 30th Southeast Asian Games, Wednesday, wary not only of each other’s strength and skills but also of the weather that could disrupt the conduct of the event at the Luisita Golf and Country Club in Tarlac. Though most teams were able to play their practice round yesterday, some were holed up in their quarters at the Athletes’ Village in New Clark City in nearby Capas due to stormy weather conditions that had forced Games organizers to call off or postpone games in other cluster venues, such as Subic, Clark, La Union and Tagaytay. But the Philippines, Thailand and Singapore, all housed in nearby hotels here, made the most of their opportunity to further hone up under drizzle and are all ready and raring to launch their respective drive in the men’s and women’s individual play of the 54hole tournament. The match play, on the other hand, is set this weekend with the first round featuring 20 matches and the next 10. The final round will be 10 matches. While Thailand had hinted at sweeping all four gold medals after winning three the last time out in Kuala Lumpur, the hosts have vowed to foil them as they seek to atone for the country’s lone bronze medal finish in 2017. The local bets also hope to cash in on their local knowledge of the exacting Robert Trent Jones Sr.-designed course where terrors lurk in every corner. But Bianca Pagdanganan, the Philippines’ lead player, said it will all boil down to “a good gameplan” with the Asian Games bronze medalist and LPGA Tour-bound shotmaker upbeat of the country’s chances against a field teeming

with talent. “I’m with LK [Go], who was my teammate in the Asian Games, and Abby [Arevalo], who is a very experienced player, as well,” said Pagdanganan, who also won the Philippine Ladies Open crown in record fashion at Wack Wack in 2017. “I feel confident because I know they play solid golf.” And she expects to dish out a solid start against Singapore’s Shannon Tan and Le Hoang Ngo of Vietnam in their 8:35 a.m. start on No. 10 with fancied Thai Atthaya Thitikul just behind her group with Indonesia’s Ida Ayu Putri and Ashley Wen Lau of Malaysia. Go, who helped anchor the Phl’s gold medal romp in last year’s Asian Games with Pagdanganan and gold medalist Yuka Saso, and who bagged the lone bronze in the last SEAG, opens her bid against Ashley Menne of Singapore and Xuan Minh Doan of Vietnam, while Arevalo tows the Phl side as she tees off at 8:15 a.m. in a duel with Suanne Loh of Singapore. Thitikul, the reigning world No. 1 in the ranks and the first amateur to win a Ladies European Tour event in 2017, begins her quest at 8:45 a.m. against Ida Melati Putri of Indonesia and Malaysia’s

Ashley Lau, while teammates Kan Bunnabodee and Pimnipa Panthong square off with Ribka Vania and Putri Abdulghany, and Patricia Sinolungan and Natasha Oon, respectively. While pundits predict a Pagdanganan-Thitikul duel for the gold, the Filipina ace has opted to downplay the looming matchup, saying: “Every player is a possible contender, so we just have to do our own thing and play our best.” The country is also hoping the men’s squad, made up of Aidric Chan, Carl Corpuz, Sean Ramos and Luis Castro, would turn in a solid start individually for the momentum needed in the 54-hole tournament expected to be tight and fierce at one of the country’s toughest championship courses. “They have a solid team as well,” said Pagdanganan of the Phl’s men’s squad also bracing for a fierce showdown with the Thais and the Singaporeans, among others. The Phl men’s side faces Malaysia and Myanmar in the first day with Chan, who ended the country’s long title drought in the Junior World in San Diego in the premier boys’ 15-18-U division last July, taking on Erwin Chang and Hlaing Min Htet at 9:40 a.m., Corpuz clashing with Bin Adam Madzri and Pyae Phyo Thu at 9:40 a.m., Ramos tangles with R. Kanavathi at 9:50 a.m., and Castro, won bagged the individual crown and led the Phl to the team crown in the recent Indonesia Amateur Open, mixes it up with Mohd Zubiar Firdaus and Thiha Myo Set, all on No. 1. The powerhouse Thai side, meanwhile, will be led by Vanchai Luangnitikul, who teamed up with Thitikul to win the mixed event crown in last year’s Youth Olympics in Argentina. Backing Luangnitikul are Nopparat Panichpho, David Boriboonsub and Tanapat Pichaikool.

Coach Cone picks 7-foot Slaughter as replacement for Pogoy “There was some doubt if I would be okay in time to play but I really did not want to miss this opportunity and I worked very hard. Everyone on the team has been supportive... and I’m really grateful to Coach Tim for including me in the lineup,” added Slaughter. At the end

the guys, not exactly where we want them, but where we need them to be,” said Cone, who began training session in early October in preparation for the SEA Games. “They [players] have worked hard and have been serious in their approach. We’re hoping that translates once we hit the floor against Singapore,” added Cone, back on the national team 21 years after leading the Philippines to a bronze medal finish in the 1998 Asian Games. Before Pogoy’s injury, ace guard Jayson Castro also had to leave the national team training pool with a hurting foot, but the Samahang Basketbol ng Pilipinas was quick to add Nlex’s Kiefer Ravena, who was eventually named to the final 12-man roster. After making it to the official lineup, Pogoy hurt his back during the PBA quarterfinal playoffs in the Governors’ Cup. For a week,

of its final twice-a-day practice session on Tuesday, Cone said they have done enough to get ready, especially against Singapore which Gilas had a tough time beating before scoring a 68-60 win in the semifinals of the 2017 SEA Games, in Kuala Lumpur. “For the time that we have had, we feel we have surprise second. The country’s biggest Sunday gold medal haul came from dancesport with 10. You know why? We’ve been perennially favored in dancesport. In fact, we also virtually swept dancesport when we won our last SEA Games overall crown in 2005, the year we last hosted the region’s version of the Olympic Games. So way ahead we are in dancesport that other countries hosting the Games after 2005 had consistently scrapped the event—a weird aspect of the SEAG that allows a host nation to have the exclusive right to choose which sports to be played. Our 13 other gold medals in Day One in what is generally considered a stunning opening

Cone needed to evaluate his options considering he still had in the national team pool Slaughter, Scottie Thompson and Art de la Cruz, who are all his players with Barangay Ginebra San Miguel. But due to the presence of naturalized players from other teams, Cone opted to solidify the frontline by adding Slaughter, who will now man the slot together with 6-10 June Mar Fajardo, 6-9 Japeth Aguilar and 6-8 Christian Stanhardinger. “Greg would have been part of the original 12 had he been healthy at the deadline a few weeks ago,” said Cone of Slaughter, a mainstay of the original Gilas team from 2009 to 2011. “He is healthy now,” added Cone, whose other players are LA Tenorio, Stanley Pringle of Ginebra, Chris Ross and Marcio Lassiter of San Miguel Beer, Matthew Wright of Phoenix Fuel, TNT’s Troy Rosario and Vic Manuel of Alaska.

Greg Slaughter will add ceiling to the national team’s title retention bid.

day catch came from triathlon, duathlon, arnis, wushu and gymnastics, among others. Although our gymnasts had a solitary gold on Sunday, it was the most applauded produce as it came from Carlos “Caloy” Yulo, the recently crowned world floor exercise champion. As a result of that victory fashioned in Stuttgart, Germany—the first by any Filipino and Southeast Asian for that matter in the World Gymnastics—Yulo, 19, earned a coveted slot in the Tokyo Olympics in July 2020. But Yulo is expected to win more golds in the SEAG as his all-around gold was just an aperitif. By the gymnastics’ conclusion today, Yulo may well have stuffed his pocket with more golds in the individual events: floor exercise, vault, horizontal bars, parallel bars, pommel

horse and rings. He has become so world class that his foes will find it hard to defeat him in any of the events that he will be entered in. Now back to the secret of our blazing start that practically made our foes eat our dust in the jump-start. The reason for that is, our officials made sure that the Games would schedule early the events that we are heavily favored, like dancesports. With early victories flooding the win column for the Philippines, it will surely serve as a big psychological boost for the remaining athletes to also unleash only golden performances. Hopefully, the momentum of the early golden rampage would rub off on the other

Filipino athletes who were showered with no less than P1 billion in training and exposure abroad by the Philippine Sports Commission (PSC). In the SEAG, hosts are there to win it. Always. If we lose this one, we might not have fought as one? Think about it. THAT’S IT So far so good. From a warmly applauded opening ceremonies up to our present medal standing wherein we are up there comfortably over our foes, we just need to keep the faith so that victory will be finally achieved after a 14-year title drought. Discipline, dedication and determination must be maintained up to the very end.

A NEW ROLE FOR KERR S

By Tim Reynolds

The Associated Press

teve Kerr is teaching. And learning. That is his silver lining from this season. After five consecutive years of being No. 1 in the Western Conference—and ending up as NBA champions in three of those seasons—the Warriors are at the bottom of the league. Everyone knows why: Kevin Durant left, Stephen Curry got hurt, Klay Thompson got hurt, D’Angelo Russell got hurt, Andre Iguodala got traded, Shaun Livingston retired, DeMarcus Cousins left...it goes on and on. “You can’t have worse luck than they’ve had,” Orlando Coach Steve Clifford said. But to Kerr’s credit, the Warriors are desperate to make the best of their situation. This will be a losing season for Kerr, his first in more than a quarter-century. He was a winner almost every year as a player, a winner in each of his three seasons as an executive in Phoenix,

a huge winner in his first five seasons as coach. He won five titles as a player, three more as a coach. And next year—with Curry back, Thompson back, a top-5 lottery pick likely, plus new faces that the Warriors will be able to add when some money frees up—he could be a title contender again. What he’s going through this year will make him ready for next year and beyond. “I think I’ve learned how to be a better coach, honestly,” Kerr said. “I haven’t had to coach a situation like this and it’s a good reminder that every circumstance is different, every year is different. The last five years, we’ve been a championship contender, so it meant that I had to manage the team through the season, prepare for the playoffs and try to get guys rest when we could. This is much more about teaching and developing young players.” Kerr lost 15 games in his first regular season with the Warriors, 15 more in his third season. The Warriors won the NBA title in each of those years. This season, they’ve already passed that 15-loss mark—with about 75 percent of the season

left to play. Golden State wasn’t planning to push the reset button this season but found itself with no choice. “It’s the way of life in pro sports, unless you’re the Patriots,” Miami Coach Erik Spoelstra said. “Everybody else, you have to, at some point, recalibrate, retool and reinvent, get back at it—which they will. Even right now, even though they’ve been decimated by injuries, the tenets and standards that they have had, you can see those habits being built.” Spoelstra and the Heat beat Golden State last week. After the game, Spoelstra—who knows a thing or

two about seeing a perennial title contender head in a different direction, after Miami was forced to rebuild things once LeBron James left in 2014 and Chris Bosh’s career came to a premature end a couple years later because of blood clots—pulled Kerr aside and offered some words of encouragement. “I’ve admired Steve just because he’s been around winning teams basically his entire career as a player, as an executive and as a head coach,” Spoelstra said. “It’s extremely hard to do what they did, even with talent. It’s really hard to accumulate that talent but then to get the

talent to play together the way they did, it was exquisite basketball that changed the league in many ways.” The basketball isn’t exquisite right now. But when the Warriors are truly back, Kerr will be even better prepared for whatever challenges they face. “I’m lucky. I’ve got a great staff,” Kerr said. “Mike Brown and Ron Adams have really helped me this year because they’ve both been through this before, coaching really young teams that have struggled. And I’m learning a lot myself. It’s a good dynamic for my own career, to go through this and to feel it.”

Sports BusinessMirror

| Wednesday, December 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THE Warriors’ Draymond Green gets instructions from his Head Coach Steve Kerr. AP

SACRAMENTO’S Bogdan Bogdanovic and Chicago’s Ryan Arcidiacono battle for the ball. AP

Hawks top Warriors in duel of teams with worst records A

TLANTA—Trae Young scored 24 points, rookie De’Andre Hunter added 18 and the Atlanta Hawks snapped a 10-game losing streak with a 104-79 win over the Golden State Warriors on Monday night in a matchup of teams with the worst records in the NBA. The Warriors (4-18) finished with a season low in points (4-18). It was the lowest point total allowed by the Hawks (5-16). Golden State dressed just nine players, even with center Kevon Looney returning to action after missing 19 games with a nerve condition. Rookie Eric Paschall led Golden State with 24 points, but his teammates combined to shoot 24 of 72, and the Warriors were slowed by 25 turnovers, which the Hawks converted into 25 points. The Warriors were missing Draymond Green, DeAngelo Russell and Stephen Curry, among others. Hunter scored 13 of his 18 points in the first half. He left the game midway through the fourth quarter with what appeared to be a wrist injury.

Tobias Harris scored 26 points and Philadelphia beat Utah,103-94, for its eighth win in nine games and 10th straight at home. Al Horford had five baskets in the first quarter for 12 of his 17 points. James Ennis III finished with eight points. Rudy Gobert scored 27 points for the Jazz, who trailed by 40 points to Toronto a night earlier and faced an 18-point deficit against Philadelphia at the break. Philadelphia’s Joel Embiid had another off night, scoring 16 points on five-for-13 shooting. Kelly Oubre Jr. scored 23 points, including two clutch 3-pointers in the final minute that lifted Phoenix over Charlotte, 109-104. Devin Booker added 23 points and Dario Saric had 16 points and 10 rebounds for the Suns, who snapped a three-game skid. Marvin Williams led the Hornets with a season-high 22 points, and Devonte Graham had 15 points and 12 assists. Leverkusen’ goalkeeper Lukas Hradecky talks during an interview at the Bay Arena in Leverkusen, Germany. AP

The Suns led by 20 at the break, but squandered that lead and trailed by five in the final minute. That’s when Oubre knocked down back-to-back threes to put the Suns ahead with 19.8 seconds left. Giannis Antetokounmpo needed only 14 minutes to record another double-double, finishing with 29 points and 15 rebounds as Milwaukee won its 12th straight game—13288 over New York. The Bucks (18-3) led by as many as 47 and cruised behind Antetokounmpo. The reigning MVP shot 10 of 14 from the field, including three of four from three-point range, while playing 22 minutes. Milwaukee’s winning streak is the longest in the NBA this season and the franchise’s longest since the 1981-1982 season. DJ Wilson added a career-high 19 points, Khris Middleton had 16 and George Hill 14 for the Bucks, who improved to 9-1 at home. AP

Olympic judo champ gets 5 years for sexual assault

V No contact lens? No problem for keeper

EVERKUSEN, Germany—Any goalkeeper can have a hard time against Bayern Munich. It’s harder if you can’t see the ball. Bayer Leverkusen keeper Lukas Hradecky dislodged a contact lens while playing against the German champions on Saturday, but he still helped his team to a surprise win. The problems started when the Finnish goalkeeper took a shot from Serge Gnabry to the chest midway through the first half, with Leverkusen leading 1-0. “First of all, I couldn’t breathe for 30 seconds,” Hradecky told The Associated Press on Monday. “Then I realized that my contact lens was wrapped up in the corner of my eye so for one minute or so I couldn’t really see with the one eye.” A trip to the bench for medical treatment helped—sort of. A team doctor put the lens in backward, leaving Hradecky to survive until halftime with skewed depth perception.

“It’s difficult to explain for the guys who don’t wear contact lenses. It’s there, but if it’s the other way around it’s very disturbing,” he said. “You can still see better than without it, but it’s scratching and annoying.” Before Hradecky could get a new lens at the break, Thomas Müller leveled the score for Bayern, but Leon Bailey immediately responded with his second goal to restore Leverkusen’s lead. Thankfully for Hradecky, Bayern missed the target with other shots from dangerous positions. In the second half, Hradecky really came through. Sight restored, he stopped a barrage of Bayern shots and enjoyed some luck as the Bavarian team hit the woodwork repeatedly. That ended fourth-place Bayern’s perfect run—four games, four wins, no goals conceded—under interim Coach Hansi Flick. It was a crucial win for Leverkusen, recovering to seventh in the Bundesliga after a patchy start to the season. AP

IENNA—Two-time Olympic judo champion Peter Seisenbacher was sentenced to five years in prison on Monday for sexually assaulting two young girls he was coaching in the early 2000s. An Austrian regional criminal court found Seisenbacher guilty of the abuse, which took place in Vienna between 1999 and 2004. The women filed charges against their former coach in 2013. Seisenbacher has always denied wrongdoing, claiming the women made up their stories. However, chief judge Christoph Bauer called the victims “extremely credible.” “We didn’t get the impression that they were lying, that they were misleading us, that they were complotting,” Bauer said. Seisenbacher’s attorney, Bernhard Lehofer, said an appeal was considered. The 59-year-old Seisenbacher started coaching following a successful career, which included winning gold medals at two consecutive Olympics in the 1980s. Seisenbacher was convicted of sexually assaulting one of the girls in 1999, when she was 11, and abusing her on multiple occasions until 2002. Also, he allegedly sexually assaulted a 13-year-old girl in 2004. He was also charged with the attempted assault of a 16-year-old pupil while at a training camp in Croatia in 2001. The trial was delayed for nearly three years after Seisenbacher fled the country and failed to show up in court in December 2016. AP

God of love

EAR God, by Your Spirit You animated Rose Philippine Duchesne to persevere through persecution, to found schools and to pray. Inspired by her faithfulness, we pray: Make us true disciples, oh God. Give openness, faith and courage to those who are discerning a vocation to the religious life. Open our eyes to see the needs of those around us and to care for all creation. Help us to hear Your life-giving Word in Scripture in the Church, in the poor, and in the silence of our hearts and minds. May the spirit lead us to know God more, love Him most, and to serve Him endlessly through others, and may His everlasting love for us radiate to others, through Jesus our brother. 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

OLD DOGS, NEW TRICKS: 10,000 PETS NEEDED FOR SCIENCE D2

Wednesday, December 4, 2019

AMAZON PULLS AUSCHWITZ ‘CHRISTMAS ORNAMENTS’ AFTER PROTEST

WARSAW, Poland—Amazon said Monday it has removed “Christmas ornaments” and other merchandise bearing the images of Auschwitz that had been available on its online site. Amazon, which functions as a marketplace on top of selling products itself, said in a statement that “all sellers must follow our selling guidelines” and that those who do not will be removed. The move comes after the AuschwitzBirkenau state museum on Sunday appealed to Amazon to remove the merchandise, which also included an Auschwitz bottle opener and a Birkenau “massacre” mouse pad. It said that, “Selling ‘Christmas ornaments’ with images of Auschwitz does not seem appropriate. Auschwitz on a bottle opener is rather disturbing and disrespectful.” Many others on Twitter voiced outrage. On Monday, the state memorial said it was still calling on another online outlet, Wish Shopping, to stop selling the products. Nazi Germany killed 1.1 million people at the death camp, most of them Jews, during its occupation of Poland during World War II. It’s not the first time Amazon has had to pull offensive products sold on its site. In the past year, it has removed toilet seat covers and bath mats that featured photos of sacred Sikh temples or Islamic calligraphy and verses from the Quran, the holy Muslim holy book. AP

Nintendo will prove the Switch’s longevity this holiday season BY PAVEL ALPEYEV & YUKI FURUKAWA Bloomberg News

INTENDO Co.’s Switch console is poised for its best holiday shopping season, yet. The company will probably sell 9.46 million units of Switch hardware and 64.73 million units of software in the quarter ending December, according to analyst estimates compiled by Bloomberg. While the forecast console numbers mark only a slight improvement on last year’s results, it’s games that deliver most of Nintendo’s profit, and software sales may climb about 23 percent. Achieving those numbers could prompt Nintendo to revise its conservative earnings outlook for the year ending March 2020. The Switch’s performance in its third holiday season will also hold clues for the console’s longevity in an industry where hardware is typically overhauled every five years and rivals Microsoft Corp. and Sony Corp. are already planning new machines for the end of 2020. “This is typically where sales begin to peak out, but it looks like the Switch may have a longer life cycle,” said Kazunori Ito, an analyst at Morningstar Investment Services in Tokyo. “With a desktop console and a portable player in a single machine, Nintendo has a very effective platform for selling game software.” Nintendo designed the console so that it can be used on the big living room screen, as well as on the go, and in September it also introduced a cheaper Switch Lite focused on expanding the mobile market. Combined sales have already topped 40 million units since launch in March 2017 and many analysts expect the Switch will last long enough to reach the 100 million record set by the Nintendo Wii. The Kyoto-based company has stuck with a conservative

forecast for operating profit of ¥260 billion ($2.4 billion) on ¥1.25 trillion in revenue for the year ending March 2020. That’s short of analysts’ expectations of ¥308.8 billion and ¥1.28 trillion, respectively. Nintendo also expects to sell 18 million Switch units and 125 million new software titles this fiscal year. That compares with the average of four analysts’ estimates for 19.07 million, and the 147.43 million average of nine estimates. “Last year’s holidays is a high hurdle to clear,” said Masaru Sugiyama, an analyst at Goldman Sachs Group Inc. “But there is a good chance for year-on-year growth.” The 2018 lineup included a Pokemon double-issue that sold a combined 10 million units in a month and a half to the end of the year. Super Smash Bros. Ultimate launched on December 7 and raked in sales of over 12 million units. Nintendo sold 9.42 million Switch consoles in that holiday quarter and a total of 52.5 million units of software. This year, Nintendo is again targeting the Pokemon fan base with two new titles—Pokemon Sword and Pokemon Shield. The games, which debuted on November 15, have come under criticism from fans unhappy with the quality of graphics and animations, and the lack of the full stable of “pocket monsters.” Still, sales exceeded 6 million units during the launch weekend, making it the fastest-selling Switch game to date. “It’s a Pokemon title, so unless you are giving up on the franchise, it’s hard to imagine fans not buying it,” said Damian Thong, an analyst at Macquarie Group Ltd. “Pokemon Sword and Shield will probably end up being the single largest game in terms of launch year revenue, probably bigger than Smash Bros.” In October, Nintendo released Ring Fit Adventure, an $80 exercise game that comes with a flexible plastic ring that tracks the player’s motion by slotting in one of the Switch’s Joy-Con controllers and having

the user strap the other to their leg. With that basic motion-capture setup, gamers wage heroic battles and clear stages by jogging and doing squats. Nintendo is looking to repeat the success of the Wii Fit—the exercise game that broke new ground when it was introduced in 2012 along with a Balance Board peripheral. It sold more than 50 million units and was key to broadening the appeal of the Wii console to new audiences. Ring Fit Adventure is off to a promising start, as Nintendo on Friday apologized for being unable to keep up with overwhelming demand. The Wii went on to sell over 101 million units of hardware and 900 million games, setting a high standard of success that Nintendo has struggled to live up to since. The company’s share price hit its peak in the year following the Wii’s 2006 launch and the stock now trades about 40 percent below its 2007 record. So far, the Switch has held its own against its storied predecessor and has even done better in hardware sales during its first two holiday seasons. “The Switch can sell 20 million units annually for the next three years,” said Michael Pachter, an analyst at Wedbush Securities Inc. “So it should easily get to 100 million.” Not everyone agrees. Macquarie’s Thong thinks a lot of the casual gamers that helped power the Wii’s runaway success have moved on to free-to-play games on smartphones, such as Nintendo’s own wildly popular Mario Kart Tour. There is also a lot more competition for people’s free time from social media and streaming video. Still, Nintendo’s prospects remain bright in the near term. “The focus is the game, not the console itself,” Thong said. “2021 might be an even bigger year for title launches. There is a new Zelda game and it will be time for a mid-cycle refresh for all major Nintendo titles.” ■

Samsung Galaxy A series phones get a boost A RECENT study by ClickZ revealed that Gen Zs are considered to be the “smartphone generation.” They spend an average of four hours and 15 minutes onscreen per day.They are always-on and they love to use their devices to share their lives online, entertain themselves and capture memories. Samsung recently launched the latest A series devices built for the “Era of Live” with the Galaxy A50s, A30s, A20s and A10s. The phones are designed to provide the needs of Gen Z when it comes to mobile usage. Aside from elevated

content creation through its upgraded features, the A series lets them go live and enjoy their smartphones longer. The Galaxy devices are equipped with a massive 4000 mAh battery to provide uninterrupted mobile experience. Aside from that, users won’t have to worry about losing power as the A50s, A30s and A20s are supported by a 15W Fast Charging mechanism that lets them do more with their devices all-day. Meanwhile, the Galaxy A50s offers a boosted experience through its Power Optimization feature that saves battery life so users can stay connected

with their friends and families longer. As part of Samsung’s holiday offerings, A series users can also win premium Galaxy devices when they join the bimonthly raffle on the Samsung Members app (www.samsung.com/ph/offer). Customers who purchase a Galaxy A50s, A30s, A20s, and A10s can redeem raffle entries on the app. Prizes up for grabs include a Galaxy Note 10, A10s, Buds, Tab S6, Fit e and Watch Active2. One account is the equivalent of a raffle entry. Ten winners will be announced each on December 17, and January 2, 2020.

NEW SIA MOBILE APP TO FURTHER ENHANCE TRAVEL SINGAPORE Airlines recently announced the launch of its allnew mobile app for Android and iOS smartphones, featuring innovative features, faster performance and improved usability to enhance the customer experience. Features include a “Capture & Discover” function which uses image recognition, as well as speech and natural language processing to identify user intent, match it to a Singapore Airlines destination, and present relevant destination content and fare deals; a “Translation Assistant” feature, which uses real-time language translation by voice to help travelers communicate better when they are overseas; and a “Measure Your Baggage” function to help travelers determine if the size of their bag is within cabin baggage limitations. “Singapore Airlines has been investing heavily to enhance our digital capabilities. With new user interface designs and insourcing of developer and customer experience talent, we are working to provide faster and more customer-centric products and services to improve the customer experience,” said Campbell Wilson, senior vice president for sales and marketing of Singapore Airlines. Based on a ground-up rebuild and all-new underlying technical architecture, the app also delivers customers significantly enhanced booking and check-in flows, improving transaction time by up to 60 percent. Among the many improvements in existing functionality, real-time information, such as boarding gate details, the destination’s weather and currency, and baggage belt information are added to the “My Trips” function. Users continue to enjoy greater personalization, with the enhancement of in-flight entertainment features in the mobile app. These include extended access to e-Library magazine and newspaper content based on KrisFlyer membership tier, as well as a new search and filter function to allow for easier content browsing in the e-Library and KrisWorld catalogue. The app continues to enable customers to bookmark their movies, so that they can pick up where they left off on subsequent flights with the newest in-flight entertainment systems. The new app also sees enhancements, such as a newly designed KrisFlyer account dashboard and the introduction of an “Inbox” feature, which stores push notifications, as well as KrisFlyer messages for easy reference. “The launch of our new app follows many other digital innovation initiatives, such as KrisPay, the world’s first blockchain-based airline loyalty digital wallet, and the progressive redesign of our web site and its underlying architecture. Improvements to our mobile app will not stop here and we will continue to invest our efforts to add value to our customers’ experience,” Wilson added.

Wednesday, December 4, 2019

Pet Corner BusinessMirror

Old dogs, new tricks: 10,000 pets needed for science Leslie Lambert’s 11-year-old rescue dog, Oscar. She enrolled him in an early phase of the Dog Aging Project. “I would selfishly like to have him around forever,” said the 33-yearold veterinarian. “Unfortunately, he ages much, much faster than I do.” AP

By Carla K. Johnson The Associated Press

EATTLE—Can old dogs teach us new tricks? Scientists are looking for 10,000 pets for the largest-ever study of aging in canines. They hope to shed light on human longevity, too. The project will collect a pile of pooch data: vet records, DNA samples, gut microbes and information on food and walks. Five hundred dogs will test a pill

that could slow the aging process. “What we learn will potentially be good for dogs and has great potential to translate to human health,” said project codirector Daniel Promislow of the University of Washington School of Medicine. If scientists find a genetic marker for a type of cancer in dogs, for instance, that could be explored in humans. For the study, the dogs will live at home and follow their usual routine. All ages and sizes, purebreds and mutts are welcome.

Owners will complete periodic online surveys and take their dogs to the vet once a year, with the possibility of extra visits for certain tests. Their welfare will be monitored by a bioethicist and a panel of animal welfare advisers. To nominate a pet, owners can visit the Dog Aging Project’s web site. The five-year study was formally launched on Thursday at a science meeting in Austin, Texas. The National Institute on Aging is paying for the $23 million project because dogs and humans share the same environment, get the same diseases and dogs’ shorter lifespans allow quicker research results, said deputy director Dr. Marie Bernard. The data collected will be available to all scientists. Leslie Lambert of Parkville, Maryland, enrolled her 11-year-old rescue dog, Oscar, in an early phase. “I would selfishly like to have him around forever,” said the 33-year-old veterinarian. “Unfortunately, he ages much, much faster than I do.” But she’s torn by the prospect of an antiaging pill because so many abandoned dogs go without care. “Just because we can, should we?” Compared to farm dogs in the past, today’s pampered pups live longer and get more geriatric diseases, said veterinarian Dr. Kate Creevy of Texas A&M University, the project’s chief scientific officer. Yet, no standard measures exist for frailty or prognosis in sick, aged dogs, Creevy said. The project will develop those tools. One dog year is roughly equal to seven human years, Creevy said, but that varies by breed. Large dogs have shorter lifespans than smaller dogs. A Great Dane’s lifespan is about half that of a toy poodle’s. That makes large dogs better test subjects for the pill. Dogs weighing at least 40 pounds will be eligible for an experiment with rapamycin, now taken by humans to prevent rejection of transplanted kidneys. The drug has extended lifespan in mice. A small safety study in dogs found no dangerous side effects, said project codirector Matt Kaeberlein of the University of Washington. Human devotion to dogs drives projects like this, the scientists said. Owners will gladly fill out surveys, send records and submit a pup’s poop for analysis if they think it will help all dogs live longer, even if it won’t help their pet. “People love dogs,” said Promislow, who normally studies aging in fruit flies. “No one has ever come up to me and said, ‘Oh my goodness, I just love fruit flies.’” Promislow’s mixed breed, 14-year-old Frisbee, will not participate to prevent a conflict of interest. “It’s too bad because she’s a terrific example of a really healthy ager,” he said. n

Cats to be put on leashes to protect wildlife? EU says no BRUSSELS—Put domestic cats on a leash to better protect threatened birds and the environment? The European Union says that would deny mankind’s furry friend its unalienable right to roam. The EU’s executive said Thursday that it is “a strong defender of free movement rights—including of cats” and “categorically” denied it would ever force cats to be kept indoors or on a leash, as one scientific study suggests. Tilburg University scientists wrote in Oxford’s Journal of Environmental Law that free-ranging domestic cats “impact biodiversity through predation, disturbance, competition, disease and hybridization,” and added that the predatory impact is worse than often assumed. They argued that EU laws and directives could effectively force owners to keep them indoors or on a leash outdoors. AP

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Tyra Banks, 46; Jay-Z, 50; Marisa Tomei, 55; Jeff Bridges, 70. Happy Birthday: You’ll have to filter through the information you are given this year and do your due diligence before taking someone’s word as truth. Go directly to the source, ask blunt questions and leave nothing to chance. Your future depends on how you go about delineating information you come across and using it to your advantage. Truth and integrity matter. Your lucky numbers are 8, 12, 21, 24, 33, 41, 45.

ARIES (March 21-April 19): Stay in control. If you overreact, you’ll have regrets. Look for a unique way to convince someone to see things your way. A money matter can be resolved if you look for an investment that will encourage you to head in a new direction. HHH

TAURUS (April 20-May 20): Put yourself out there. Offer ideas, hands-on help and your expertise. Joining forces with someone who has as much to offer as you will help you bring about positive changes that improve your life. Romance will enhance a meaningful relationship. HHHH

GEMINI (May 21-June 20): Be secretive about your personal business, how you feel or what you intend to do next. The less you share with others, the easier it will be to get things done. A partnership will need an adjustment if you want it to continue. HH

CANCER (June 21-July 22): Explore possibilities. Don’t fear making changes, meeting new people or trying something you’ve never done. Be open and receptive to suggestions and willing to discuss your plans. A professional opportunity looks promising. HHHHH

LEO (July 23-Aug. 22): Don’t get angry; get moving. If you waste time disagreeing with someone who will never see things your way, you will miss out on something new and exciting. Follow through with your plans, and let others do as they please. HHH

VIRGO (Aug. 23-Sept. 22): Get out and about. The less time spent at home or around someone who is a bad influence, the better. Surround yourself with people who are ambitious and eager to make a difference. HHH

LIBRA (Sept. 23-Oct. 22): Don’t jump for joy until you are sure you’ve taken care of every detail necessary to avoid complaints or criticism. If someone overreacts, puts pressure on you or tries to interfere in your life, be prepared to walk away. HHH

SCORPIO (Oct. 23-Nov. 21): Make changes to the way you live that will be conducive to getting ahead. Information you gather will help you make an adjustment to the way you earn your living. Keep up with technology and what’s trending. Romance is featured. HHHHH

i j

SAGITTARIUS (Nov. 22-Dec. 21): Emotional manipulation should not be tolerated. Your generosity will end up costing. Don’t pay for someone’s mistake. Offer suggestions, not cash or your services for free. HH CAPRICORN (Dec. 22-Jan. 19): A shift in the way you earn your living or handle your cash will make your life easier. Expect to receive a surprise from someone you least expect. A change at home will encourage you to make a physical improvement, as well. HHHH

AQUARIUS (Jan. 20-Feb. 18): Concentrate on what others are doing and how it will affect you. Get ready to protect your interests and your future by maintaining a stable personal financial footing. Less spending and more observing will help. Avoid joint ventures. HHH

PISCES (Feb. 19-March 20): Keep your plans simple. If you are too elaborate or paint a brighter vision than what you can produce, you’ll have to answer to someone who doesn’t agree with your tactics. HHH

Two cats sit at the top of the stairway in the middle of a small fisherman’s landing in Valletta, Malta. The EU on November 28 said it guarantees the right of domestic cats to roam free, even if they can be a threat to birds. AP

Birthday Baby: You are sensitive, caring and energetic. You are unique and imaginative.

‘intriguing’ by victor fleming The Universal Crossword/Edited by David Steinberg

ACROSS 1 Pickle herb 5 Male mallards 11 Glib sort’s “gift” 14 Only US state with a non-rectangular flag 15 Cease’s partner 16 “___ you listening?” 17 Shade arrangement? 19 Free (of) 20 Gave a TED Talk, say 21 Oxymoron at the track 23 Binary digits 26 Amount past due? 27 Long, thin loaves 32 Taste, e.g. 35 Aspiring D.A.’s exam 36 Devastation 38 German auto 39 $$$ dispenser 40 Jong of fiction 41 Rap’s ___ Wayne 42 All hands on deck 44 Admit to a club

45 Came to 46 Photography giant 48 Not to be talked out of 50 Victorian, for one 51 Laze around 52 Football tactic involving a throw 57 The ___ State (Hawaii) 61 Actress/comedian Wong 62 Purchase option where you pay later 65 Captain’s journal 66 Lacking iron 67 Like a nasty mood 68 Berman in sportcasting 69 Scottish monster’s nickname 70 British”Bye!” DOWN 1 Physical givers, briefly 2 Stack-selling chain 3 ___ & Stitch 4 “Watch your step!” 5 Molar pro’s deg. 6 ___ center 7 Three-time Grand Slam winner Arthur 8 Capital of Ukraine

9 Literary villain Squalor 10 They relieve blockages 11 Place to grow vegetables, perhaps 12 Extremely dry 13 What some sofas can turn into 18 Russo of Ransom 22 Cookie with a Chocolate Peanut Butter Pie flavor 24 Broadway legend Merman 25 Did not blink, maybe 27 Jet color? 28 Prefix for “physics” 29 Level creation and such 30 Online party notice 31 Mixer 33 Prospex watchmaker 34 Burstyn or Pompeo 37 “No problem” 43 Star ___: The Rise of Skywalker 45 Nicely stated 47 The Princeton Review competitor 49 Leave laughing in the aisles 52 Gloomy atmosphere 53 Vera’s leader?

54 Channel 55 “The ___ have it” 56 Thanksgiving side dish 58 Gymnastics great Korbut 59 “Stop there!” 60 Glass actress Taylor-Joy 63 Nintendo console 64 Flexible blackjack card Solution to yesterday’s puzzle:

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‘Pioneer woman’ sticks to her groove with new cookbook

By Gina Abdy The Associated Press

EW YORK—Ree Drummond—known for her Food Network cooking show, The Pioneer Woman—won’t follow diet trends to sell cookbooks. “I have found that I have to be authentic to me, otherwise it won’t work. My interest will fizzle. I stay most passionate when it’s something that’s really going on in my life,” she told The Associated Press. For instance, Drummond tried the Keto diet this year, but didn’t stick with it. Still, she does offer Keto-like recipes in her latest cookbook, The Pioneer Woman Cooks: The New Frontier, to reflect public interest in the diet. “It was a little too hardcore for me to sustain, but that’s what was behind the handful of lowercarb recipes in the cookbook. Just on those days or weeks when you want to kind of make slightly smarter choices, those are the recipes that reflect that,” she said. “But I call them lower carb because I’m not making any Keto gods happy.” Drummond’s cooking is all about making your stomach happy. She’s generally known for hearty fare, along with rich desserts. Surprisingly, though, bread is not her strong suit. “I can kind of muddle through...but I just don’t have the artistry to make a really great loaf of bread. So that’s going to be my lifetime goal,” she said. Her cookbook includes step-by-step visual guides with her recipes. “It’s the style that I used when I first started food blogging back in 2007. I just decided to take pictures of the steps as I cooked,” Drummond said. “I had no idea if anybody would be interested, but I posted them and the people who read it at the time said, ‘Hey, do another one.’ And so that became my style.” Her brand continues to grow each year. She started as a stay-at-home married mom to four children on her ranch in Pawhuska, Oklahoma, blogging about motherhood and simple recipes. Now she has a hit show, a collection of cookbooks and children’s books, and a houseware line at Walmart. She was even

TV personality Ree Drummond posing for a portrait to promote her new cookbook The Pioneer Woman Cooks: The New Frontier: 112 Fantastic Favorites for Everyday Eating. AP

LOS ANGELES—NBC and the guild that represents television performers said they are investigating Gabrielle Union’s allegation that she was fired as a judge on America’s Got Talent because she complained of racism and other on-set issues. The Screen Actors GuildAmerican Federation of Television and Radio Artists issued a statement Monday saying it is looking into the allegations. “We take issues of workplace health and safety very seriously.” The Screen Actors Guild-American Federation of Television said in a statement. “We immediately reached

blind spot bruce c.

ATTITUDE PROBLEM

WHO is this older actress who is beautiful but is a diva—and by that, we don’t mean that she sings well. According to makeup artists, the actress is a pain to work with because she does not know what she likes. She only knows what she dislikes. Sometimes, a makeup session with her can last up to three hours, when 1 1/2 to two hours is the usual for an editorial or a TVC/print ad. It is because it’s not unusual for the actress to demand that the makeup artist remove everything and start all over again. The artists don’t really mind because this isn’t unusual—having to start from scratch—but the actress has a way of telling them that isn’t nice or even remotely polite or respectful. The actress, even when she was younger, was known to have an attitude. That means she hasn’t changed at all.

FOR ECONOMIC REASONS

THERE are disturbing and unconfirmed reports that a starlet is now seeing someone related to her ex-boyfriend for economic reasons. The relative reportedly has had an eye on the starlet for quite a while. Now that she is no longer with her boyfriend, the relative has made his move. The starlet is known to love material things, which is why she hooked up with her ex-boyfriend in the first place. This is also speculated to be the reason why she has hooked up with her ex’s relative. So what does the relative’s wife have to say about this? She is horrified, of course, but not really surprised. She has never trusted the starlet. Her interference was one of the reasons why the starlet and her boyfriend broke up.

SHE WANTS TO BE ALONE featured on the cover of People magazine. “I blogged on a whim, but I blogged about things that made me tick. Like, my kids. I wrote funny stories about raising them in the country,’’ she said. “It’s kind

of crazy what has happened since then. But it’s helped me enjoy the ride because, you know, just make all the plans you want and then pop popcorn and sit back and watch. You never know what will happen.” n

NBC, union investigate ‘America’s Got Talent’ racism report By Andrew Dalton The Associated Press

Wednesday, December 4, 2019

out to Ms. Union’s representatives when these reports came to light... while we have taken steps to investigate this matter, we have nothing to report now.” The statement said such investigations and their results are usually kept confidential, unless the union member making the report wants it made public. According to reports, Union, who is black, sought action to address an environment she said allowed racist jokes, comments and notes from producers along with other troubling behavior, including judge-producer Simon Cowell’s smoking indoors. NBC, production company Fremantle and Cowell’s company Syco issued their own statement on Sunday.

“We remain committed to ensuring a respectful workplace for all employees and take very seriously any questions about workplace culture,” the statement said. “We are working with Ms. Union through her representatives to hear more about her concerns, following which we will take whatever next steps may be appropriate.” In a previous statement, the three companies said America’s Got Talent has a strong record of inclusivity, and judge turnover is common. On her Twitter account on Monday, Union, without specifying who she was addressing, retweeted instructions on how to give a proper apology, which included sincerely admitting wrongdoing, correcting the

mistake loudly, and laying out steps to correct future behavior. She added the comment, “This! This! AND THIIISSSSSSS!!!!!!” She had previously thanked fans, friends and family for their support on her social-media accounts, in similarly vague terms. Her reported firing became a cause for celebrities on Twitter, including Union’s husband, former NBA player Dwyane Wade. Before landing the job on the talent showcase, Union was best known as an actress from films including Bring It On and Bad Boys II. Union and another judge, Julianne Hough, were dropped from the show on November 22 after one year, Variety reported. AP

THIS singer has been in the headlines lately for various reasons, mostly in relation to how she has behaved professionally and personally. Recently, she raised not just a few eyebrows at an event because she refused to share a dressing room with other stars. Some of these stars are even bigger than her and they didn’t mind sharing with others. The singer really has a thing against sharing dressing rooms or tents. She always wants a solo tent when superstars are OK with sharing when they have no other choice. The singer’s manager has had to return payments because she would refuse to perform when her demands are not meet. There was one time when she threw a tantrum and refused to budge. Oh well, the singer is still young. Perhaps she may yet change her ways.

SOUGHT-AFTER

THE starlet has been flirting with a young actor in the most unconventional ways. She has been sexting him and asking him for nudes to the point that it is making the actor uncomfortable. It’s not clear how it all started but the actor has told people that he wished it never began because the starlet’s brand of flirtation is kind of creepy. It is also weird because the starlet and the actor belong to the same management as the guy’s ex and the girl rumored to be the cause of their breakup. Now everyone’s curious about the actor. Why is every woman after him? What is his secret weapon? There are other actors who are more good looking than he is, yet he attracts all the girls.

The world’s most beloved sheep is back FROM the successful TV series to a hit full-length feature film in 2015, A-list star Shaun the Sheep is back on the big screen in A Shaun the Sheep Movie: Farmageddon, in which he boldly goes where no sheep has gone before. Taking the audience for a hilarious intergalactic adventure, Farmageddon breaks Shaun’s blissful and mischievous daily existence with the arrival of a crazy and sparkly purple-blue alien named Lu-La. Her magical alien powers, irrepressible mischief and galactic-sized burps soon have the flock enchanted and Shaun takes his new extra-terrestrial friend on a road trip to Mossingham Forest to find her lost spaceship. Little does the pair know that they are being pursued at

every turn by a mysterious alien-hunting government agency, spearheaded by the formidable Agent Red and her bunch of hapless, hazmat-suited goons. Directed by Will Belcher and Richard Phelan, the exciting sequel isn’t just a movie for its directors, but rather a dream not without its nightmarish moments that elevate the world of Shaun to epic new genre heights. “This is a movie that’s about friends and responsibility, and what it’s about to meet someone and become best friends. But then we also bring some villains in. We’re always asking ourselves questions like, ‘What if Lu-La is as cheeky as Shaun? Why do they get along so well? Is her

home a bit like his home?’ We’re always playing with those ideas,” shares Phelan. Shaun’s stories are told through the eyes of a boy and his mates. And there’s limitless appeal to a sheep doing things in the human world that the humans don’t see. He’s a challenge to create because in some ways the possibilities are limitless. But there are certain rules without dialogue. We have to tell the character story, as well as make it fun and slapstick, but I just love it. A lot of this is based on ideas that relate to our lives, things that are hopefully universal in appeal.” A Shaun the Sheep Movie: Farmageddon opens on December 4, in Philippine cinemas nationwide.

A scene from A Shaun the Sheep Movie: Farmageddon

Henry Cavill is coming to the Philippines on December 12 Netflix has announced that Henry Cavill, who stars as Geralt of Rivia in the upcoming Netflix Original Series The Witcher, is coming to the Philippines in December. Lauren Schmidt Hissrich, the series’ showrunner, will join Henry to celebrate the launch of this epic adventure. Fans can see Henry at #TheWitcherInManila event on December 12, 5 pm onward, at Ayala Malls Manila Bay Activity Center, D. Macapagal Boulevard corner Asean

Avenue, Aseana City, Parañaque. Access to the event is on a first-come, first-served basis with limited space available. Fans can also immerse in the world of The Witcher with a special photo zone, open everyday from 11 am to 9 pm, from December 10 to 13. Early birds at the venue on December 12 can also get exclusive swag from the show, and the opportunity to watch the first episode of The Witcher. Based on the best-selling fantasy series of books, The Witcher is an epic tale of fate and family.

It tells of the intertwined destinies of three individuals in the vast world of The Continent, where humans, elves, witchers, gnomes, and monsters battle to survive and thrive, and where good and evil is not easily identified. Netflix recently announced a second season pickup for The Witcher. The second season will begin production in London, early in 2020, for a planned debut in 2021. Henry (Mission Impossible-Fallout and Man of Steel) leads the cast of The Witcher

saga, playing the role of Geralt of Rivia, alongside Anya Chalotra as Yennefer, and Freya Allan as Ciri. Other previously announced cast include: Jodhi May, Björn Hlynur Haraldsson, Adam Levy, MyAnna Buring, Mimi Ndiweni, Therica Wilson-Read, Emma Appleton, Eamon Farren, Joey Batey, Lars Mikkelsen, Royce Pierreson, Maciej Musial, Wilson Radjou-Pujalte and Anna Shaffer. The Witcher, premieres on Netflix on December 20.

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The silver lining in letting go SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

HEN I was still a Sunday school teacher for preteens, one of the most memorable lessons I did was about forgiveness. I broke a plate in front of the class using a hammer and told them that harsh words and actions were like the hammer—and the plate represented the heart. I told them further that even if we use glue to piece it back together, the heart would never be the same. But asking for forgiveness helps in putting it back together and hopefully the plate will be miraculously restored to its original state, or even better. I am reminded about this lesson lately because of the holidays. One of the things I like about Advent is the reminder to prepare ourselves for the season. I grew up in a tradition where we had to take time to reflect and think about the events of the past year and evaluate where we are with our family, our community and, especially, with ourselves. It is also around this time when I remember the people who have wronged me and how much I have grown from the experience by forgiving them for the wrongs they did. As I grew older, I have come to realize that forgiveness is not so simple after all. Remember when we were kids and we had a quarrel with a sibling or a playmate, and our parents would force us to reconcile and act as if nothing happened? I carried that concept of forgiveness for as long as I can remember. Well into my college years, I struggled with the concept of forgiveness as a decision to let go of feelings of resentment and revenge. What helped was the idea that if the person was truly sorry, there had to be restitution—recompense for the wrongdoing—and forgiveness did not necessarily mean you would go back to being the same people before the wrongdoing, or even to be completely reconciled. If it does, then all the better, but it does not always have to end that way. I also realized that forgiving is a process, and not like a switch you just turn on when you are wronged. For some, it takes hours to forgive someone; for others, it can take years. You cannot rush people or demand them to forgive others because they have to take time to process it for themselves so they can let go of whatever resentment or vengeful feelings they might have. And forgiving someone does not necessarily mean the other person will change. Even if they will say sorry and mean it, there is still the possibility they

will not correct themselves—and that is OK, because you cannot control what they think or do. It just means you have to be cautious in your dealings with the person, and protect yourself from further harm from the person. But it does not mean you should not forgive. On the contrary, when you do forgive, you are actually doing more good for yourself than for the other person. In one aspect, the mental benefits of forgiveness are numerous. You will have improved general mental health because of less anxiety and stress from holding onto a grudge or being resentful. After verbally forgiving someone, you can have the peace of mind of accepting what has happened and moving on from there. You also become mentally stronger in accepting things which you do not have control over and doing the best with the things you can. Your mental fortitude increases as you see events as building your character, and discover that people, no matter how they come into our lives, make us better individuals. It is just a matter of accepting that people do make mistakes, and when the mistake makes it impossible to continue with the relationship, it is time to forgive and let go. Physically, forgiveness contributes to your overall well-being. Holding no grudge against someone is closely associated with lower blood pressure, better sleep and a general feeling of positivity. It might also help decrease the use of antidepressant medications, which in the long run might cause other problems in your body or, worse, dependence on the medication.

The mental benefits of forgiveness are numerous. You will have improved general mental health because of less anxiety and stress from holding onto a grudge or being resentful. After verbally forgiving someone, you can have the peace of mind of accepting what has happened and moving on from there. There have been several publications on the positive effects of forgiveness in medical journals which validate these, and it is clear from the research and from the personal experiences of others that forgiveness does your body good because of the peace of mind which comes with letting the resentment go. Now that I am well into my adult years, I have come to discover that some relationships become stronger because of forgiveness. I learned this concept through the Japanese art of kintsugi—putting broken pottery back together using gold or silver. What the Japanese do is instead of throwing away broken pottery, they highlight the imperfections, rather than concealing it. Long before someone invented the word “flawsome,” the Japanese have been imbibing

the concept of embracing flaws and highlighting the history, rather than just focusing on what is beautiful alone. And what comes out of their art is more precious than what the object was to begin with. Of course, it must be said that while there is the possibility of creating something out of brokenness, it can come at an exorbitant price. Forgiving someone is more for your good than for the person who wronged you. And even if it is difficult to let go of resentment—or the need to avenge yourself, you need to do it for your own peace of mind and then walk away if the person does more harm than good. But you take with you the lessons the experience offers, and use it to create meaningful relationships with others. ■

A new home to dream in for tech-voc scholars RICA ROSE ABELLERA has always dreamed of becoming a mechanical engineer. It is a dream she has shared with her grandfather—who, with her grandmother, stood as her guardian—when her father passed away. When her grandfather passed away, as well, Rica felt her dream slipping away. Being the eldest of four children and the primary caregiver of her grandmother, she couldn’t turn her back on the needs of her family. Luckily, her high-school teacher told her about Gokongwei Brothers Foundation’s (GBF) Iskolar ni Juan (INJ) Tech-Voc program, which offers a yearlong technicalvocational scholarship with an on-the-job training and employment opportunity in Universal Robina Corp. (URC) plants. She applied for scholarship and was accepted. “Being part of the Iskolar Ni Juan program is such a privilege for me. I started from nothing, but now I am one of the scholars, full of dreams,” she added. Rica is just one of the 46 INJ scholars of Batch 10 that has recently entered the GBF Technical Training Center this year. Her batch is the first set of scholars to stay in the new facility in Laguna where the center is relocated. WHERE THE FUTURE STARTS FOR years, the GBF Technical Training Center, or TTC, as it is fondly called, has helped transform the lives of over 300 INJ graduates. From being a site solely for the continuous technical training of JG Summit employees when it was established in 1999 in Litton Mills, Pasig City, the TTC has expanded to being a nurturing home to high-school graduates coming from low-income families aiming to get a shot in life through the INJ program. With its eye on the future, the GBF TTC relocated to a new facility in Calamba City on September this year. The new site was launched on September 17 through a ribbon-cutting ceremony led by members of GBF’s board of trustees: JG Summit President and CEO Lance Gokongwei, JG Summit Independent Director Antonio Go, and Robinsons Retail Holdings President and CEO Robina Gokongwei-Pe. GBF General Manager and Summit Media President Lisa Gokongwei-Cheng, JG Summit Vice President of Organization Development and Talent Management David Gulliver Go and GBF Executive Director Grace Colet also joined the board of trustees in opening the new TTC. Also present at the event to mark another milestone for TTC were key partners from

❶

GOKONGWEI Brothers Foundation Board of Trustee Member Antonio Go (from left), GBF Secretary Lance Gokongwei, GBF Board of Trustee Member Robina Gokongwei-Pe, GBF General Manager Lisa GokongweiCheng, JG Summit Vice President David Gulliver Go, and GBF Executive Director Grace Colet

❷ THE ❶ the JG Summit Corporate Center Units—URC Branded Consumer Foods Group, URC Sugar and Renewables Group, and URC Flour and Pasta Division. Being situated in Laguna gives the center space to expand in the future without being too far away from Metro Manila. The TTC currently houses the INJ and the technical training for JG Summit employees, which offered up to 35 courses in 2019. GBF is planning to also open scholarships for digital certification courses related to IT support, data science and Web administration. “We hope to build other programs that will reflect the new skills needed in a changing world, now that we have a great facility on which to build that,” GokongweiCheng said during the ribbon-cutting ceremony. Standing on a 4,000-square-meter lot is a P100-million prized facility developed by Robinsons Land Corp. The center has two buildings: the school proper and the dormitory, which serves the board and lodging inclusion of the INJ scholarship. Inside the school are 12 industry-standard laboratories, three lecture rooms and two training rooms. Scholars, who are also entitled to free meals and snacks daily, dine together in the canteen, adjacent to a multipurpose hall.

Gokongwei Brothers Foundation has unveiled its newest facility in Calamba City, Laguna.

❷ Meanwhile, the dormitory has a total of 18 rooms that can accommodate up to 188 people. Eleven of the rooms are allocated for INJ scholars, two are for TTC staff and the remaining five are for visiting JG Summit employees who are engaged with the technical training courses. One key element in the new TTC is the presence of wall murals inked with inspirational messages from great leaders, like the late British Prime Minister Winston Churchill, late South African President Nelson Mandela, American minister and activist Martin Luther King Jr., and even GBF and JG Summit Holdings Inc.’s very own founder, Mr. John Gokongwei Jr. At the center of the dormitory lobby is a 450-square-foot large wall called the “Mr. John’s Wall.” The mural shows elements that depicts the founder’s journey in building JG Summit Holdings as one of the biggest Philippine conglomerates. The bicycle symbolizes his hard work, responsiveness to change and boldness to dream amid the uphill challenges that come his way. One of these obstacles was when he survived a typhoon in the middle of the sea, this is represented by the rubber tire—the same item he used to get through the rough waters.

BEYOND THE STRUCTURE THE two new buildings, the industry-standard training equipment and the brand-new furniture, only make up the physical structure of the GBF TTC. At the heart of this new center is the hope and excitement in the hearts of the people who run the TTC—the staff, the scholars, and partners from URC and the whole of JG Summit. In his special message during the launch, GBF Scretary Gokongwei lauded the people who bring life to the institution. “How do we measure success? We measure success from the outcomes that we reproduce in changing the lives of our various scholars and students,” he said. “It’s a pleasure to be here and to see the fruits of all the hard work and dedication of the entire GBF team...I’d like to thank our scholars here for giving us an opportunity to work with them. After this batch, we have graduated more than 300 scholars. We are very happy to work with the most deserving of students,” he added. He also thanked URC and JG Summit representatives present who are working very closely with GBF in the implementation of its programs.

PHOTOS: JG SUMMIT HOLDINGS

BusinessMirror E1 | Wednesday, December 4, 2019 • Editor : Tet Andolong

Wave pool

Azure Urban Resort Residences: A ‘crazy’ idea achieves a milestone By Rizal Raoul S. Reyes

@brownindio

ENTURY Properties Group (CPG) Vice Chairman John Victor R. Antonio fondly recalled that the development of the 6-hectare Azure Urban Resort Residences was a “crazy” idea of creating a project that would be a standout compared to their counterparts in Metro Manila.

Thus, John Victor and his creative team launched Azure in 2012 with a resort theme as the focal point of the project. “We came out with an insane idea to make Bicutan a destination,” John Victor told the media in a recent interview during the inauguration of the ninth and final tower in Parañaque City. The milestone marks the completion of nine Azure towers with 5,355 units and a total sales value of P22.55 billion, with 98 percent of the inventory already sold out. The Azure towers were named after world-famous beach destinations, such as Rio, Santorini, Saint Tropez, Positano, Miami, Maui, Maldives, Boracay and Bahamas. The towers are 20 stories each. John Victor and CPG President and Chief Executive Officer Jose Marco R. Antonio led the inauguration ceremonies with Parañaque City government officials and the Azure residents. “We are very much excited to announce the full completion of one of Century Properties’ most groundbreaking developments, the Azure Urban Resort Residences. We wanted to deliver a beach resort experience complete with a man-made beach right in the middle of the city and here it is, fully realized as committed to our homeowners. Now, they get to fully experience the beach in their

backyard and for 365 days a year,” said Marco. John Victor recalled that he asked his team to put up something that is not typically found in an urban setting, “It was a crazy idea of installing resort-type amenities in the metropolis,” he said. Before embarking on developing Azure, John Victor recalled that he brought his team to different locations overseas a decade ago to observe and develop ideas on how to implement a unique project. After several trips and developing

White sand perfect for beach volleyball

Century Properties Group Head of Turnover Group Kerwin Reganit (from left); CPG Design Manager Arch. Bernard Artates; Century Project Management and Construction Corp. Vice President for Operations Luis Miguel Gonzalez; Barangay Marcelo Green Captain Christopher Aguilar; CPG Director and Head of Construction Ricardo P. Cuerva; CPG Executive Chairman Jose EB Antonio; CPG Vice Chairman John Victor R. Antonio; Rep. Eric L. Olivarez, district representative, Parañaque City, 1st District; Rep. Jose Enrico T. Golez, Parañaque City vice mayor; CPG President and Chief Executive Officer Jose Marco R. Antonio; and Anna Castillo, CPG AVP for Design and Innovation Group

several ideas, the team was ready to implement the unique project. “Creating a building is easy but creating a building that will last for generations is a different matter,” John Victor said.

Marco also thanked the Azure homeowners and recognized the hard work of the Century team of employees and consultants who helped bring the project concept to life. “The Azure is a product of our

PRIVATE pool

passion to continuously push the envelope in real estate and give our clients extraordinary experiences. To our homeowners, thank you for your trust. To our hardworking team, thank you for your help and

commitment,” he said. “It has been humbling and nice to know that a lot of residents are happy. Hats off to our foreign and local designers who worked hand in hand to ensure the success of the project,” John Victor said. A winner of the Philippines Property Awards and Southeast Asia Property Awards as the Philippines’s Best Condo Development, the Azure bears a tropical modern aesthetic that is reflected on its nine towers and amenities. Its central amenity, the beanshaped Paris Beach Club, was personally designed by international celebrity Paris Hilton and houses as a café, dining area, function room, game room, movie room, a spa and a gym. Aside from the man-made beach and wave pool, the development also has two lagoon pools, a lap pool, children’s water play area, beach volleyball area, basketball court and pocket gardens. The Azure Urban Resort Residences is a development of Century Limitless Corp., a subsidiary of Century Properties Group. It is in West Service Road, Marcelo Green, beside SM Bicutan in Parañaque City.

Business

E2 Wednesday, December 4, 2019

Beyond the norm: Challenging traditions Amor Maclang

first dibs in real estate

HE Philippine real estate has always been a continuously evolving landscape as it adjusts to the ever-changing needs of the local property market. Alongside arising trends and practices in the realestate industry, there is the frequent emergence of new industry challenges and opportunities that require modern, up-to-date approaches.

One such challenge is the advent of a young and increasingly tech-savvy market whose purchase decisions depend largely on how property companies are able to engage them through technological platforms. Indeed, technology has always been a catalyst for change in any business, and the real-estate market is no exception—blurring the lines between the physical and digital spheres. This is the reason why real-estate companies have started offering tech-based solutions that offer the market what they need and prefer in these modern times. One such real-estate company is PRIME Philippines, a company known for its nontraditional approach in business while being an emerging tech innovator in the property sector. With the vision to become the most technologically advanced real-estate advisory firm, PRIME Philippines has

pursued the creation of innovative solutions that will influence the industry standards. For instance, to push this vision, PRIME Philippines has developed PRIMECore—a property tech portal, powered with stateof-the-art technology, including artificial intelligence, cloud-computing and augmented reality.

Jet Yu: Young, driven, tech-savvy

The man behind PRIME Philippines is Jettson “Jet” Yu, who started the company at only 23 years old. Young and serious about offering real-estate solutions to what he claims as the foreseen gaps in the industry, Jet has engaged with people who were twice or even thrice his age. However, his continued pursuit of delivering his commitment consistently overcame all biases associated with being young. In just a short time, Jet has

PRIME Philippines was recognized at the Asia Leaders Awards 2019, which acknowledges leaders who are making a global difference, as a finalist for Real Estate Company of the Year

successfully steered PRIME Philippines to gain market dominance in many key areas in the country. What sets PRIME apart, though, is its commitment to enable cities toward sustainable development. With this in mind, Jet ensures that it remains up-to-date with the latest technological advancements. With a nontraditional approach continuing to drive it toward growth and expansion, the company has explored numerous investment opportunities, especially in emerging cities and provinces.

PRIME: Beginnings and growth

As a young real-estate brokerage firm based in Quezon City, PRIME Philippines started with the purpose of reviving underperforming commercial developments in the city. Just one year after its inception, PRIME Philippines already gained market dominance in Quezon City, brokering more than two-thirds of the city’s commercial lease transactions and several big-ticket acquisitions in the city. It’s also worthy to note that in 2014, PRIME Philippines brokered the largest single transaction in Quezon City. From that point, it has grown exponentially and has begun to cater to the real-estate

The man behind PRIME Philippines is Jettson “Jet” Yu, who started the company at only 23 years old

demands in major cities of Metro Manila, as well as in key provinces and emerging hot spots. With Jet’s able leadership, PRIME Philippines has expanded its operations in Davao City to meet the increasing real-estate demands of Visayas and Mindanao. PRIME Philippines was the first real-estate brokerage and consultancy firm to have a significant

presence in the area. In fact, during that same year, PRIME Philippines was awarded by the local government of Davao City with the Business Development and Entrepreneurship Award, recognizing its city-enabling efforts particularly in the real-estate industry. Testament to Jet’s excellent stewardship, PRIME currently has over 200 projects completed, over 4,000 clients successfully served, over 10 countries transacted with, and over P30 billion worth of successful deals. Just t his November 2019, PRIME Philippines was recognized at the Asia Leaders Awards 2019, which acknowledges leaders who are making a global difference, as a finalist for Real Estate Company of the Year. Aside from that, Jet Yu was awarded as the Young CEO of the Year and Young Businessman of the Year. “There are a lot of things that are changing in this industry but one thing ensures PRIME Philippines of its continued aggressive growth—challenging traditions and enabling cities,” Jet shared.

‘The Final Pitch Season 5: Real Estate and Livable Cities’

Jet Yu returns as the youngest

investor-judge for the fifth season of The Final Pitch. Jet shared that his return to the show was because he wants to continue his mission to share his knowledge in real estate and inspire a young generation of entrepreneurs. The Final Pitch is the country’s first and only business reality show, where young entrepreneur contestants pitch their businesses to an esteemed panel of investorjudges who are looking to invest in their proposed ventures. For the first time in the show’s history, the upcoming season will have a theme, which is: Real Estate and Livable Cities—a perfect fit for Jet and his colleagues in the show—Victor Consunji, CEO of Victor Consunji Development Corp.; Cary Lagdameo, first vice president of Davao-based Damosa Land Inc.; Cesar Wee Jr., president of Wee Community Developers Inc.; and George Royeca, chief transport advocate of pioneering app-based motorcycle-hailing service Angkas. The Final Pitch is produced by Streetpark Productions and airs every Sunday at 8 p.m., with replays every Monday at 9:30 p.m. and Saturdays at 1 p.m., on CNN Philippines. Do check it out.

A revamped landmark in the South

ESIDENTS and visitors have a lot to look forward to as Brentville International Community begins its initial phase of redevelopment with a revamped entryway to mark a more prestigious and exclusive community in the South. A project by Prestige by Filinvest, Brentville’s new marker, the first of many improvements, aims to enhance the neighborhood feel, elevating its status to being a more vibrant community. This key upgrade also serves to offer a progression of experiences, from the tree-lined entryway where pedestrians can immediately feel a sense of home and community pride to the retail development with walkable areas and vast open spaces where people can congregate with their neighbors, follow through with their fitness routines simply enjoy nature.

Notably, the redevelopment capitalized on its green landscaping—designed by awardwinning consultant AECOM— not only to provide a pleasant walking experience but also to adhere to Filinvest’s commitment to its residents to provide a high quality of life. To enhance Brentville as a self-contained suburban community, it is master planned in a way that all of life’s necessities are within reach. It is home to Brent International School and is within convenient distance from lifestyle malls, universities, hospitals and other medical establishments. Brentville’s easy access to major highways and thoroughfares is one of the attributes to its rising property value. Strategically located right after Mamplasan exit, its allows residents to enjoy life away from highly congested urban areas

while having fast and convenient travel to Metro Manila’s central business districts. It is a 10-minute drive from the garden business district of Metro South, Filinvest City, and a 20-minute drive from Makati City via Skyway and the South Luzon Expressway. It is also easily accessible to the Cavite-Laguna Expressway (Calax), which just opened its first phase, connecting Mamplasan, Binan, Laguna to the Santa Rosa-Tagaytay Interchange. Without a doubt, Brentville International Community’s revamped entryway is a mark of exclusivity and prestige, offering a well-balanced, lush suburban life. With more redevelopment in the pipeline, residents and guests can soon enjoy a lively community with all their needs within reach. To know more, visit www. brentville.com.

sMirror

Editor: Tet Andolong

Orama enters Philippine market By Rizal Raoul S. Reyes

@brownindio

OCUS Global Inc. (FGI) recently announced the availability of the Orama minimal frames in the Philippines through a partnership with the Greece-based company. FGI President Stephen Sy said that he is bullish with the, newest partnership citing the enormous opportunity for the product’s growth in the Philippines. “Orama is a state-of-the-art brand of minimal frames that complement our portfolio of premium global products for homes and projects. The technological innovations and high-quality craftsmanship they’ve made to perfect their products is something that we appreciate and admire,” Sy said in a recent press briefing For his part, Thomas Flamant, Orama’s export account manager for Asia, said, “We are excited to be in the Philippines where we believe we have a huge, untapped market… architects, developers and homeowners with discerning tastes and those who want only the best. And that is Orama. Focus Global is a perfect fit for our company. We acknowledge how focused and passionate they are in what they do, to bring world-renowned brands to

the Philippines and market them successfully.” Flamant was in the country recently to meet with Sy and his Orama sales team comprised of architects.

Orama sliding system that can be fully integrated with walls, ceiling and floor.

The vision of Orama

Established in Greece in 2013, Orama is devoted to bringing every architect’s vision to life, with the aim of finding the right minimal window and door frame solution for any architectural requirement—no matter how extreme or ambitious. It has grown through the years and today, it has an impressive global network of partners, distributors and dealers. It also boasts a highly experienced in-house product development team and manufacturing facilities. Orama is the Greek word for vision. Its minimalist frames, created from high-end technology, produce flawless architectural aesthetic, thus creating stunning and unobstructed views to the

ship between the shadow and the light, of your home and the world, beyond windows and doors.

Thermally broken and sound proof Orama Minimal Frame

outside, bringing a seamless interaction between interior and exterior and enhancing the perception of both spaces. Simply put, one wouldn’t be able to distinguish where the interior space ends and the outdoor begins. Elegant and sleek, the frames are installed flush with the floor and the ceiling, with only a very thin four millimeters of frame visible around the openings. For the central vertical frame, Orama

keeps it minimal with just a 24 mm visible vertical surface and up to a maximum of 30 mm thickness for extremely tall windows and doors. Versatile sizes including corner free solutions open up the view up to 360 degrees. Seeing through the elegant and aluminum frames and understanding the combination of superior quality, attention to detail and sophisticated design. Orama introduces a new relation-

Or ama’s distinct features include clean lines, maximum functionality, and optimal comfort combined with silent sliding. It offers high performance in thermal insulation making it suitable for all climatic zones ensuring maximum living comfort. Despite the thin dimensions of the profiles, Orama minimal frames can carry weights of up to 1000 kilograms. The height of each glass panel can reach 3.0 m using the 24-mm width frame and up to 6.5 m with the slightly wider 30mm width frame. Thanks to the

dual stainless steel rails with two double stainless steel rollers on each side of each vent, the sliding system operates perfectly smooth and silent regardless of weight.

What structures can use Orama?

Orama Minimal Frames can be used in any kind of structure or construction—a house, a multistory hotel or an office building. Aside from function, its huge windows allow for stunning views and sceneries, large openings and minimal aesthetics. It has also had large installations in different countries as well including Italy, France, Amsterdam and the Middle East. Orama is exclusively distributed by FGI.

Siena Towers is Marikina City’s latest lifestyle playground

Maximize your property

ORIZON Land, a subsidiary of prime real-estate developer Federal Land Inc. recently held a topping off ceremony for the first tower of its latest development in Marikina City, the Siena Towers. The event brought together Federal Land executives and partners as they celebrated Horizon Land’s continued commitment to develop secure and family friendly communities in the Philippines. Situated on a 5,473-square-meter land along Sumulong Highway, Siena Towers promises a vibrant community with its own retail strip and accessibility to premier schools in Marikina, and Quezon City, business parks and other retail destinations. The two-tower, 227-unit development is part of Horizon Land’s master-planned community in the city—along with the Tropicana Garden City and the Marquinton Residences.

SIDE from the horrendous traffic jams that we encounter on a daily basis, parking is more often overlooked as a serious problem for motorists. The nightmare of having your car towed or clamped for illegal parking is a nightmare and a costly proposition. Finding space for your car or cars is also a problem facing collectors, who cringe at the thought of having their automotive collection exposed to the elements like flash floods, vandals, and even theft. A solution is at hand thanks in part to industry pioneer Emicor. The EZ Double Stackers allows house and building owners to maximize their real estate, but also to safely secure your sedans, midsize to full size SUV’s at a push of a button. This parking innovation is widely used in highly progressive countries, such as Singapore, Japan, South Korea and in Europe. The EZ Park Double Stackers Parking has a lifting capacity of 2.3 tons to 3.6 tons and has a manual lock release; hydraulic overload protection, automatic shut off once operator release key switch; a photocell sensor to detect cars under vehicle platform to automatically stop the equipment from operating and can be used for both outdoor and indoor purposes. This parking technology is perfect for single houses, buildings, commer-

Engr. Raymond de Jesus (from left), project in charge for Siena Towers; Arch. Valerie Velecina, product planning dept. manager; Michael Salazar, head of product planning dept.; Joyce Torres, head of sales division; Cristeto Densing, president of MEC; Engr. Elmer Romer, vice president of MEC; and Engr. Joseph Yang, MEC project manager

Sportscaster joins JDI family as 2020 calendar girl

ARA Aquino, television sportscaster and courtside reporter for the Philippine Basketball Association, recently signed a contract with Jardine Distribution Inc. (JDI) as its 2020 calendar girl. The contract signing was held last May 24 at Chateau 1771 in

Bonifacio Global City, Taguig, with Joven Vilvestre, VP for sales construction supplies division; Edwin Hernandez, JDI president; Peachy C. Tiu, AVP for marketing construction supplies division; and Joevic Pasit, VP for sales agro products division. Aquino is set to pitch for JDI’s

trusted agricultural products that include, but are not limited to, rice seeds, vegetable seeds, corn seeds, fungicides, herbicides, insecticides, molluscicides, plant growth regulators, biostimulants, and soil conditioners and aerators. Known for quality crop nutrition and crop protection, JDI’s agro-

products have always been the trusted brands in the market. As one of the faces of Solignum’s 65-year anniversary, Aquino will figure prominently in the brand’s milestone-related activities. Solignum, the tried, tested, trusted wood preservative for over 65 years. JDI also offers dependable waterproofing products for leak protection and other waterproofing-related needs like Waterplug, Sureseal elastomeric sealant, Optimum Flex and Super Thoroseal. Jardine’s line of waterproofing products, home pest solutions and construction products are available at leading supermarkets (Shopwise, Rustans, Wellcome), DIY stores (Handyman, Ace, Citi and Wilcon), and in the nearest hardware stores, among others, while agro products are available in agri stores. Jardine products are also available online at https://www.lazada.com. ph/shop/jardine-distribution-inc/. For more information, go to www. jardinedistribution.com.ph.

cial areas, hotels, car dealerships and downtime offices which have no parking space. EZ Park Double Stackers were the choice of building operators and hospitals, such as Makati Medical Center, and car dealers, such as Honda Cars Makati and some private car collectors who require parking spaces for their prized collections. Emicor is also the accredited supplier for service bay lifts of dealers, such as Toyota, Mitsubishi, Honda, Isuzu and Customers Cradle. EZ Park Double Stackers Parking will only require a minimal space equivalent to two parking slots or 32 square meters. Ingress and egress is not a problem due to an optional electric turntable that can be installed in five days, which includes machine calibration, testing and personnel operation training. Smart Paking is a technology in use in countries like Japan, Singapore, the United States, Korea and Europe for years now. The smallest unit can hold six sedans with a maximum of 16 sedans. Other advantages of Smart Parking include maximizing your limited space; security against theft; safety because the structure can withstand an M8 earthquake and 250 kilowatt per hour winds; quick installation in a matter of days, as well as it is environment friendly.

Entrepreneur

E4 Wednesday, December 4, 2019 • Editor: Vittorio V. Vitug

BusinessMirror

www.businessmirror.com.ph

Udenna Group opens biggest FamilyMart branch at BGC

Photo shows celebrity and actress Sarah Lahbati; President and CEO of Phoenix Petroleum Dennis Uy; Phoenix Board Director Cherylyn Uy; Ambassador of Japan to the Philippines Koji Haneda; Executive Officer of International Business Division Japan FamilyMart, Fuminobu Oda; COO of Phoenix Petroleum Henry Albert Fadullon; General Manager of Philippine Family Mart Bernie Suiza

By Rizal Raoul S. Reyes

@brownindio

Contributor

he Udenna Group, controlled by Davao-based businessman Dennis A. Uy, recently opened the biggest FamilyMart branch in the country at the Udenna Tower in Bonifacio Global City (BGC). To enable customers to be productive while shopping, the management of FamilyMart has opened a coworking space that’s conducive to studying, reading and basically getting things done that needs to be

accomplished on the user’s mobile device or laptop while shopping for items in the store. For a minimum purchase of only P250, customers can enjoy free Wi-fi, and a cozy corner in the exclusive coworking area,

which looks out to the Zen garden. FamilyMart also has expansive food offerings up to the cozy dining for people working on coworking spaces. For start-ups who want to set meetings in the area, FamilyMart boasts of two function rooms, called Osaka and Tokyo, that could accomodate eight and 12 persons, respectively. Each is equipped with audiovisual facilities, making such spaces ideal for meetings and brainstorming sessions, best done, of course, over some of the store’s delectable food items and caffeine boost, courtesy of FamilyMart Coffee Creations. For the young entrepreneurs who want to relax, FamilyMart has its very own Zen garden conveniently located next to the coworking

spaces. It provides busy bees a calming view when taking a break from their screens. The landscape, reminiscent of scenes from a Japanese manga, is just what anyone needs for a breather. It also has a dedicated ramen station where tonkotsu, tantanmen, and Miso varieties are served steaming hot. For only P165, any fan of the beloved Japanese delicacy can enjoy a bowl, which even comes with a complimentary drink. FamilyMart also made it a point to put a clean restroom within reach when the call of nature comes. The beloved rice triangles are available at the BGC branch, along with the signature three-step unwrapping process, salmon, tuna mayo, tori mix, spam, or tinapa wrapped in a hefty layer of Japanese rice and blanketed with fresh nori for a delectable, filling snack or complete meal. It also offers donburi meals that come in Filipino food-inspired variations. The chiller, on the other hand, holds other Japanese favorites, including maki and an array of bento meals featuring pork tonkatsu, yakiniku and tempura. Liquor drinkers are in for a treat with the store’s walk-in chiller stocked with a variety of local and imported beers and other liquors. Drinks can be enjoyed from 7 p.m. onward in the dining area, or in one of the function rooms. A six-pack, consumed with some of the signature food items, would be the perfect way to end any work day. With the capacity to accommodate up to 40 diners, FamilyMart Udenna Tower is also a dining destination. The place has enough space for customers who wish to enjoy their treats inside the store. Some of such delicious items could be from the expanded menu of breakfast choices, including tapsilog and yang chow meals, as well as healthy options, like a variety of fresh vegetable salads and wraps. For those looking to indulge, however, there’s the thin-crust pizza (supremo, Hawaiian, four cheese, pepperoni), another item exclusive to this branch.

Tongdun’s Jackal Ma highlights SME role in digitized economy

angzhou, Zhejiang-based Tongdun Technology has recently underscored the vital role of small and medium enterprises in developing the Philippine economy and empowering them through digital technologies could boost SME opportunities to reach out to more clients. In this regard, Tongdun Cofounder and Partner Jackal Ma said the Philippines is a major factor for the tech firm as it has provided robust and flexible solutions to several organizations, such as banks, to help SMEs reach more customers. “Also, given a number of market conditions, such as the geography of the Philippines, improvement of our telecom services, decreasing cost of mobile devices, among others, are the main reasons why activating digital channels is a must, to cover the majority of the population,” Ma told the BusinessMirror in a recent e-mail interview. “As a matter of fact, the Philippines is one of our most important markets in the Asean region,” he added. Although the Philippines may be trailing behind its neighboring countries in terms of infrastructure and technology, Ma said the country is now more visible because of the combined efforts both of the public and private sectors to help improve on those growth areas to achieve exponential growth for the country. According to Ma, while digital payment in the country is not yet very inclusive and the infrastructure is lagging behind other countries in the Asean region, there has been a lot of improvements, especially in the information infrastructure. “The Philippines is one of the most important countries in our operations in Asia. We are positive that once the challenges in infrastructure have been addressed, the country is going to make its leap to digital transformation,” Ma said. Nevertheless, Tongdun is optimistic in collaborating with local partners. At present, it is working with the Bank of the Philippine Islands (BPI) to develop “sustainable innovations so they can achieve their goal of digital transformation, and to be able to serve its purpose.” “As you can also see, you won’t just see local

Jackal Ma, cofounder and partner of Tongdun Technology

SMEs born in the country as a lot of foreign investors are coming in to build and invest in the Philippines,” Ma said. Ma said Tongdun decided to further strengthen the partnership with the Ayala’s banking arm by extending the memorandum of understanding for another year, covering various initiatives across the BPI organization. According to Ma, Tongdun helped BPI deliver a faster, automated and secure lending process with the development of a credit scoring model for the SME markets, hence, aiding them in the fulfillment of their financial inclusion objectives. “This year, we will be focusing on integrating AI [artificial intelligence] into risk management to arm BPI with more comprehensive

solutions as they tap potential clients or new markets through their digital services offering,” he explained. As an independent third-party risk management solutions provider, he said Tongdun’s role is to help their clients, such as BPI, through comprehensive solutions that will bring about holistic, customized and secure services in accordance to their needs. He said Tongdun will provide BPI the financial infrastructure to reach and serve the untapped markets by developing banking solutions that can serve as many Filipinos across the nation. “Through our fortified partnership with BPI, their customers can easily access a wide range of financial products and services, including savings, payments, credit and insurance,” Ma said. To help BPI reach out to more Filipinos and further improve its efficiency, Tongdun will also provide customized and omni-channel solutions to help BPI’s customers to access a wide range of financial products and services, including savings, payments, credit, and insurance. “Now that technology has made it possible to reach clients and markets previously untapped by digital services, we integrated artificial intelligence into risk management to provide our customers, such as BPI, with comprehensive intelligent risk-control solutions. We are confident that our technology can help BPI be a catalyst in digitizing the Philippine banking ecosystem with an AI-led, omni-channel customer experience,” Ma added. Since BPI tapped Tongdun last year, customized credit scoring models have been created to build customized solutions for SMEs. “Tongdun’s sophisticated technology will help streamline our processes, allowing us to move faster to serve our clients better. At the same time, we will be able to optimize our risk management so we can reach more of the underbanked SME segment. With this, we can contribute to a more sustainable and broad-based economic growth for the country,” BPI Business Banking Head Eric Luchangco said in a news statement. Rizal Raoul S. Reyes

Bistro Group sign franchise accord with Olive Garden

he Bistro Group boosted its franchise when it recently signed an agreement for Olive Garden, an AmericanItalian casual dining restaurant, to open its first-ever restaurant in the Philippines. Targeted to be launched in the first quarter of 2020, the restaurant will be located at the Ayala Malls Manila Bay. “We are excited to partner with The Bistro Group,” said Brad Smith, senior vice president for franchising of Darden International. “Their extensive portfolio of brands and exceptional performance in the local dining industry for over two decades speaks to their success. We are very selective in the franchisees we choose, and The Bistro Group shares the same philosophy—good food, service and great value,” Smith said in a news statement. Orlando, Florida-based Olive Garden is one of the eight differentiated brands of Darden Restaurants Inc., and the largest casual dining brand in the US in terms of revenue ($4.5 billion). Further, the company operates more than 850 locations in the US and Canada, with franchised restaurants in Brazil, Kuwait, UAE, Panama, and US territories Guam

and Puerto Rico. Smith was a recent visitor in the country to sign the franchising contract with The Bistro Group’s Chairman William Stelton, and President and COO Jean Paul Manuud. “Olive Garden is a perfect fit for our business. It’s a casual dining place, which puts a premium on quality and service gained from 37 years of operation, understanding and expertise in the food industry. “They also align with our strategy to provide the market with the best that restaurant chains have to offer. The taste profile of their dishes is what Filipinos love—hearty, flavorful and great for sharing. We are enthusiastic that this concept will succeed in the local market,” Manuud said. Olive Garden serves Americanstyle Italian food targeted toward families in a Tuscan farmhouse setting. A first-timer in the restaurant must try the signature soup, salad and breadsticks, as well as the bestselling Tour of Italy, a platter made up of three classic dishes—Chicken Parmigiana, Lasagna Classico and Fettuccine Alfredo. It is a good representation of their cuisine. Rizal Raoul S. Reyes

Jean Paul Manuud, chief operating officer of The Bistro Group (left) and Brad Smith, senior vice president, franchising of Darden International sign the franchising agreement for the two companies.

GCash empowers MSMEs with e-payment gateway By Roderick L. Abad

@rodrik_28

Contributor

N support of the cashless revolution goal of the Bangko Sentral ng Pilipinas (BSP), GCash continues to develop electronicpayments (e-payments) at the grassroots as it enables transactions of micro, small and medium enterprises (MSMEs) with customers via their mobile phones. “We are one with the BSP in concretizing our shared vision of spurring cashless transactions in the Philippines to make it easier for merchants and consumers to transact with one another. We are committed to continuously elevate this by developing more products and services that are fit for the needs of our valued partners,” said Anthony Thomas, president of GCash. The leading mobile wallet in the country utilizes top-notch technologies that provide merchants with a rapid, dependable, safe and convenient way of accepting payments. With the use of mobile phones, GCash QR removes the need for point-of-sale terminals, maintenance and manual cash sweeping. Apart from having access to the big GCash customer base, merchants can also build their business QR payments facility for free. Business partners are, likewise, provided with reports periodically to oversee the

performance of their stores. At present, there are about 34,000 micro-entrepreneurs onboard of the GCash QR technology. Around 1,800 MSMEs are currently using the GCash as a payment gateway. These merchants include vendors at the Marikina Public Market, tricycle drivers in Boracay, sari-sari store owners in Semirara Island, among others. BSP Governor Benjamin Diokno recently said that they expect digital payments through transaction accounts will become part of the culture of Filipino consumers. He noted that going cashless is beneficial to both merchants and consumers since bringing cash is not required anymore, there is less risk of theft, enhanced cash handling processes, and lower administrative and overhead costs. Given the rise of e-payments nationwide, the BSP aims to increase noncash transactions’ share to 30 percent, from the original target of 20 percent by 2020. “Our support for the government’s initiative for a more cashless Philippines remains steadfast, and we at GCash are committed to taking this a step further by creating more innovative financial solutions that will ultimately bring us closer to our goal of providing finance for all,” Thomas said.