BusinessMirror December 13, 2018 by BusinessMirror

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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A broader look at today’s business

Thursday, December 13, 2018 Vol. 14 No. 64

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LOBAL growth for next year is expected to be slower due to the projected anemic performance of economic powerhouses United States and China, but the Philippines is expected to buck this trend, according to an international credit watcher.

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‘PHL to defy 2019 global economic headwinds’ By Bianca Cuaresma

2017 EJAP JOURNALISM AWARDS

Industrial Policy –Hallelujah!

6.4%

Rene E. Ofreneo

LABOREM EXERCENS

The GDP growth projected by S&P for the Philippines in 2019, higher than the projected 6.2 percent for 2018

EOLIBERAL economists, who worship in the altar of free trade, love to make theoretical constructs on the basis of assumptions under an imagined world of perfect competition. But it is an imperfect world with imperfect markets. It is a world lorded over by the likes of Donald Trump, with his “America First” ideology, and Xi Jinping, who presides over a state-led capitalist transformation of China.

clearly passed, and we are entering the autumn of the long expansion that followed the global financial crisis,” it added. The credit watcher expects global growth in 2019 to average 3.6 percent, slower than the projected 3.8 percent this year.

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Economic team will pitch for special Congress grants bid to extend Mindanao martial law session for budget In S&P Global Ratings’s latest assessment on the regional and worldwide economic growth, the ratings agency said a global slowdown is “a healthy necessity” for 2019.

“In broad terms, we see the slowing of global growth as both necessary and healthy. We expect the process to be reasonably orderly, with recent bouts of market turbulence

a reminder that slowdowns are not always smooth,” S&P said. “It need not be the case that winter is coming, but the global synchronized upturn of 2017 has

See “PHL,” A2

By Jovee Marie N. dela Cruz @joveemarie

& Butch Fernandez

By Bernadette D. Nicolas

HE Senate and the House of Representatives in joint session on Wednesday approved the extension for one more year of martial law in Mindanao, as “rebellion persists and public safety requires it.” Voting 12 affirmative, 5 negative and 1 abstention for the Senate; and 235 affirmative and 28 negative for the lower chamber, the senators and congressmen granted the request of President Duterte to extend martial law, which was originally declared in May 2017 after homegrown, ISIS-inspired terrorists laid siege to Marawi City. Section 18, Article VII of the Constitution authorizes the Congress of the Philippines to extend, at the initiative of the President, the proclamation or the suspension of the privilege of the writ of habeas corpus for a period to be determined by the Congress of the Philippines, if the invasion or rebellion shall persist and public safety requires it. According to Executive Secretary Salvador C. Medialdea, the President, as Commander in Chief of the Armed Forces of the Philippines, made an extensive personal evaluation of Mindanao’s situation and considered the security assessments of the Department of National Defense as martial law administrator, the AFP as martial

N a bid to avert the “costly” economic consequences of a reenacted budget, Budget Secretary Benjamin E. Diokno said the economic managers will recommend to the President the calling of a special session in Congress sometime next week. Diokno said this is the first time they will be making the recommendation under the Duterte administration, as the passage of the budget for the first two years went unhampered. On Wednesday the House of Representatives held its last session day for the year. “…There’s a possibility that the President may call for a special session sometime next week to finish the budget,” said Diokno, who also chairs the Development Budget Coordination Committee. “We will recommend to the President that he call for a special session.” The budget chief could not say when they will formally make the recommendation but said it could happen within the week. This, as he warned anew of the substantial economic impact of the government operating under a reenacted budget for the full year of 2019. Citing the latest estimates from the National Economic and Development Authority (Neda), Diokno said a reenacted budget could have a GDP growth impact of from -1.1

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A MUSLIM woman says her prayers in their makeshift shelter in Marawi City as her daughter studies her lessons in this 2018 file photo. Congress granted on Wednesday the President’s request to extend martial law in Mindanao by one more year and Malacañang said they expect to make great progress in addressing rebellion and boosting security, and promoting development on the island. NONIE REYES

DTI to regulate flat glass as safety fears aired By Elijah Felice E. Rosales @alyasjah

HE government will again regulate flat glass under the draft department administrative order (DAO) of the country’s trade agency, following calls from business leaders to do so. In a draft DAO awaiting comments from stakeholders, the

See “Martial Law,” A2

PESO EXCHANGE RATES n US 52.8440

Department of Trade and Industry (DTI) issued new technical regulations for mandatory Philippine Standard (PS) licensing scheme covering glass products. The rules apply to locally produced and imported flat glass, heat-strengthened and full-tempered flat glass, glass in building and bent glass. The DAO’s objective is “to strictly ensure that glass products meet

the specified safety and quality requirements” prescribed by the DTI’s Bureau of Philippine Standards (BPS). The issuance of the DAO came after business leaders pushed for the mandatory product testing of flat glass. In a column in the BusinessMirror in July, Federation of Philippine Industries Chairman Jesus L. See “Flat glass,” A8

@BNicolasBM

to -2.3 percent in 2019. This may cause the government to miss its growth target of 7 to 8 percent for next year. “This means GDP growth in 2019 could be between 4.7 percent and 5.9 percent instead of 7 percent,” he said. According to Department of Budget and Management (DBM) estimates, the reenacted budget will also reduce disbursements by around P220 billion next year. As many as 600,000 jobs may be lost in sectors such as construction, public administration and defense, wholesale and retail trade, land transport and education, the Neda said. “And worse, it is estimated that 200,000 to 400,000 individuals could be pushed into poverty following the contraction of the budget,” he said.

Grilling

DIOKNO faced the House of Representatives on Tuesday for a Question Hour, amid the issues surrounding the proposed 2019 budget. House Majority Leader Rolando G. Andaya Jr., in a privilege speech, accused a DBM official of favoring a contractor that “bagged billions of pesos worth of Department of Public Works and Highways projects not only in Sorsogon and Catanduanes, but also multimillion projects of other government agencies in Metro Manila and other provinces in almost all parts of the country.” Continued on A8

n JAPAN 0.4661 n UK 66.0497 n HK 6.7605 n CHINA 7.6598 n SINGAPORE 38.4740 n AUSTRALIA 38.0635 n EU 59.8564 n SAUDI ARABIA 14.0861

Source: BSP (12 December 2018 )

A2 Thursday, December 13, 2018

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pushes perks for low-cost Cold weather dampens Duterte’s SHDA home projects under Trabaho bill enthusiasm to visit US–Palace H By Bernadette D. Nicolas @BNicolasBM

resident Duterte appears to have backpedaled on an earlier pronouncement that he may visit the US on condition that Washington will return the Balangiga bells to the Philippines.

T his developed as Malacañang said the President may not be inclined to visit the US on the account of the prevailing cold weather condition there, Malacañang said on Wednesday. “What I know is he [Duterte] really doesn’t want to go to the US, apart from whatever rea-

Martial law. . . Continued from A1

law implementor, and the Philippine National Police (PNP), and has concluded that rebellion in Mindanao still subsists. He said the Abu Sayyaf Group, Bangsamoro Freedom Fighters Daulah Islamiyah, and other terrorist groups, collectively labeled as local terrorist groups seeking to promote global rebellion, continue to defy the government, mounting hostile activities during the extended period of martial law, when at least four bombings were cited in the joint security reports. “Notwithstanding the substantial gains achieved during the martial-law period, as extended, we cannot turn a blind eye to the reality that Mindanao is still in the midst of rebellion,” he added. He said DI forces continue to conduct radicalization activities, recruiting new members, especially in vulnerable Muslim communities. As the government was preoccupied with these groups, the “CTG [communist terrorist groups], which has publicly declared its intention to seize political power through violent means and supplant the country’s democratic form of government with Communist rule, took advantage and likewise posed serious security concerns,” Medialdea said. “There may have been a significant decimation of foreign and local terrorist groups in Marawi City, a weakening of the communist terrorist groups’ and local terrorist groups’ capabilities in the entire Mindanao, and a reduction of atrocities that translated to notable socioeconomic gains, but based on certain essential facts, actual rebellion still clearly persists in Mindanao, and public safety necessitates the grant of a further extension,” Medialdea added. “We are at the cusp of ending rebellion in Mindanao. Now more than ever, we cannot afford to show our enemies a moment of weakness in our resolve to defeat them. We cannot falter, else we lose our hard-earned progress. Thus, we call upon Congress to allow the further extension of Proclamation 216 to assist the AFP, the PNP and all other law-enforcement agencies,” said the executive secretary. According to Medialdea, the declaration of martial law in Mindanao has resulted in the “reduction of the capabilities of different terrorist groups, particularly the neutralization of 685 members of the local terrorist groups

PHL . . .

Continued from A1

The risk to this forecast is also on the downside, as the escalation of a US-China trade war is likely to have repercussions for global trade and consumer demand. Closer to home, S&P also expects growth in Asia Pacific next year to be slower at 5.3 percent, from the projected 5.4 percent this year. Southeast Asian economies, according to S&P, may see flat growth at 5 percent in 2019. “While favorable demographics continue to support domestic demand in these economies, thirdquarter GDP numbers were on the weaker side due to reduced external

sons he has in mind. He cannot stand the temperature, the coldness. Talagang ayaw niya pag sobrang lamig. [He really does not want to go if it is really cold],” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a briefing on Wednesday. and 1,073 members of the CTG; dismantling of seven guerilla fronts and weakening of 19 others and; surrender of unprecedented number of loose firearms,” among others. When the original martial-law declaration of May 23, 2017, lapsed, Duterte asked for a five-month extension that lasted until December 31, 2017. A second extension was granted by Congress, continuing the period of martial until December 31. The extension approved on Wednesday will last from January 1, 2019, to December 31, 2019.

Opposition

Albay Rep. Edcel C. Lagman said he voted against the extension because there are no constitutional and factual bases for the extension, as rebellion does not persist in Mindanao, and public safety is not imperiled. Lagman noted that the President announced on October 27, 2017, the liberation of Marawi City from the Maute and Abu Sayyaf terrorists and their influence, and the martial-law administrator, Defense Secretary Delfin N. Lorenzana, declared the cessation of combat operations. The five-month Marawi siege ended with the killing of Abu Sayyaf leader Isnilon Hapilon, and Maute group leader Omar Maute. “An extension of martial law and suspension of the writ of habeas corpus will prolong inordinately the regime of martial law to a total of 951 days. This contravenes the prescription of the 1987 Constitution delimiting the period of martial law to a short duration, since the original proclamation should not exceed 60 days,” he added. Magdalo Rep. Gary C. Alejano, a former soldier, said, “We burden our AFP, our PNP, of things that are way beyond their mandate. This further erodes their primary mandate of ensuring peace and defending the sovereignty and territorial integrity of the country. Tila sadya nating iniiwas ang AFP sa external defense.” Anakpawis Party-list Rep. Ariel B. Casilao said the transmitted document is impoverished and poor with common sense, as it is “pleased” with “significant progress” and “accomplishments,” but essentially demanding for more excessive measures, such as the suspension of the writ of habeas corpus. Also, Kabataan Rep. Sarah Jane I. Elago said data show that human-rights abuses by state agents in Mindanao increased further with the implemen-

demand,” S&P said of Asean growth, taking further note of slower trade growth as well as weaker consumption and investment activity in some economies.

‘Stronger growth’

Despite the regional and economic slowdown, the Philippine economy is seen to buck the trend, as forecasts from S&P showed that the country is expected to see stronger growth numbers for 2019 compared to this year. In particular, S&P said the GDP growth of the Philippines may hit 6.4 percent in 2019, higher than the projected 6.2 percent for 2018. Forecasts from the credit watcher also indicated that the country’s

The Palace statement also came on the heels of the historic return of the Balangiga bells by the United States to the Philippines on Tuesday. The three bells were taken as war booty by American troops from Balangiga, Eastern Samar, during the Filipino-American war more than a century ago. The momentous return of the bells was previously touted as a precondition for the President’s visit to the US. It was Duterte himself who demanded the return of the Balangiga bells to the Philippines in his second State of the Nation Address last year, even as the Chief Executive skipped the formal handover of the Balangiga bells at the Villamor Air Base on Tuesday. No official ex planation by given on Duterte’s “no-show,” but Malacañang said the President’s absence in the event was upon the

recommendation of Defense Secretary Delfin N. Lorenzana. The President, however, will instead proceed to Samar on Saturday for the turnover of the bells to Balangiga, officials. Malacañang said the return of the Balangiga bells will “surely forge a stronger and more enduring relationship between the two long-time allies and friends as we finally close a tragic chapter in the two countries’ shared history.” Following his election in 2016, President Duterte has since sought warmer ties with China, amid the brewing maritime dispute with Beijing in the West Philippine Sea. The Hague-based Permanent Court of Arbitration issued a landmark decision invalidating China’s massive claims to the West Philippine Sea. But, up to this day, China still does not recognize the arbitral ruling.

tation of martial law—defeating its supposed “purpose” and fulfilling the completely opposite of their “to serve and protect” mandate.

ful medicine desensitizes the body and eventually no longer becomes effective in providing the protection that it was designed to give.” Drilon recalled that, during the closed-door security briefing for senators last Monday, Defense Secretary Lorenzana described the extension of martial law as “a psychological war to quell an armed uprising,” while the Armed Forced classified the local terrorist group as merely “a peace and order problem today.”

Senators vote 12-5-1

Senators voted 12-5, with one abstention, in Wednesday’s joint session. In favor were Senate President Vicente C. Sotto III, Majority Leader Juan Miguel F. Zubiri and Sens. Gregorio B. Honasan II, Panfilo M. Lacson Sr. Richard J. Gordon, Cynthia A. Villar, Grace Poe, Aquilino L. Pimentel III, Joseph Victor G. Ejercito, Juan Edgardo M. Angara, Emmanuel Pacquiao and Sherwin T. Gatchalian. Casting the five negative votes were Minority Leader Franklin M. Drilon and Sens. Paulo Benigno A. Aquino IV, Riza Hontiveros, Francis N. Pangilinan and Francis G. Escudero. Senate President Pro Tempore Ralph G. Recto abstained, while Sens. Nancy Binay and Emmanuel Joel J. Villanueva left the joint session before voting was called. Absent at the Senate-House session were Sen. Loren B. Legarda who was reported to be “indisposed,” and Sen. Antonio F. Trillanes IV who is abroad. Escudero, in casting a “no” vote, asserted during the plenary deliberations that martial law “cannot be the new normal for Mindanao.” Quoting the statistics that he ferreted out from resource persons—Trade Secretary Ramon M. Lopez and Interior Secretary Eduardo M. Ano—the senator said, “Mindanao achieved economic growth. Mindanao achieved unprecedented maintenance of peace and order on their area, and it can do so even without martial law.” “Let us give credit where credit is due. This was achieved under the administration, not under martial law. This [economic progress] was achieved by the administration, not because of martial law but because of its proper allocation of resources where Mindanao got bigger attention. And because the AFP and PNP worked to defeat crime and criminals in Mindanao,” Escudero said in a mix of English and Filipino. Explaining his “No” vote, Drilon declared that “martial law cannot be the new normal in Mindanao,” insisting that “there is no actual rebellion or armed uprising in Mindanao which can justify the declaration of martial law in Mindanao.” Drilon likened martial law to antibiotics. “It is resorted to only when ordinary over-the-counter drugs have ceased to work. Unlimited resort to this power-

With Congress granting the President’s request to extend martial law in Mindanao, Malacañang said they expect to achieve “substantial progress” in addressing rebellion in Mindanao. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said: “Public safety demands decisive action from our President, whose primordial mandate is to protect and serve the people. Further, it is our shared responsibility to ensure the integrity of our nation, the security of our people and the sustained growth and development of Mindanao. With the continuation of martial law and the suspension of the privilege of the writ of habeas corpus, we expect to achieve substantial progress in addressing the persisting rebellion in Mindanao, as well as promoting the overall security and peace and order situation in the island.” Moreover, the Palace gave assurances that fundamental rights and liberties of citizens shall at all times be respected and that uniformed services shall act strictly within the confines of their mandate. The Department of Justice (DOJ) is backing the PNP and the AFP’s bid to extend for the third time the implementation of martial law in the provinces of Mindanao. Justice Secretary Menardo I. Guevarra said he sees no legal impediment as long as the recommendation is based on facts and a truthful assessment of the peace and order in the region. “We have no reason to doubt the truthfulness of the reports of our armed forces on the continued existence of rebellion and the requirement of public safety in Mindanao,” Guevarra said. “For as long as the factual basis subsists, the DOJ supports the further extension of martial law in Mindanao,” he added. With Bernadette D. Nicolas and Joel R. San Juan

economic growth will continue to accelerate and may reach 6.6 percent in 2020 and 2021. Inflation for next year may reach 4 percent, which is within the target range of the Bangko Sentral ng Pilipinas (BSP). “The Philippines saw rapid passthrough of oil prices and a weaker currency to inflation, adding to tax effects and weather events, which led to a one-off jump in prices of a number of items,” S&P said. The credit watcher, however, warned of pressures that may persist in the local economy, especially now that its current account position is in the red. “We believe the risk of further capital outflows, depreciation pres-

sures and rising interest rates remain for economies with current account deficits in 2019. The risks appear to have eased somewhat recently, due to dovish Fed comments and lower oil prices, but our interest rate and oil price forecasts suggest that risks have not fully dissipated,” S&P said. “As such, we will also be watching the potential for policy space in India, Indonesia and the Philippines to deteriorate further, especially if this coincides with renewed oil price increases,” it added. The BSP will be having its next monetary policy meeting in Thursday. This will be the last monetary policy meeting of the Central Bank for the year.

‘Substantial progress’

ousing developers have vowed to lobby vigorously for the inclusion of low-cost mass housing on the list of activities that the government should incentivize under the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill. The Subdivision and Housing Developers Association Inc. (SHDA), in a resolution, committed on Wednesday to push for the inclusion of mass housing in the Strategic Investment Priorities Plan (SIPP) to ensure tax incentives will be made available to those who plan to build low-cost houses. The SIPP is a list of activities that will be given priority fiscal perks by the Board of Investments (BOI) once the Trabaho bill is enacted into law. The Trabaho bill, which is pending in the Senate, will reduce corporate income tax on one hand, and will rationalize incentives on the other. “Since BOI incentives for low cost mass housing is essential to provide affordable housing, SHDA shall continuously lobby for the inclusion of the mass housing in the SIPP under the Trabaho bill,” the resolution read. The incentives, SHDA claimed, are crucial in the completion of low-cost housing projects. Developers belonging to SHDA vowed to make housing more affordable within and outside of Metro Manila. “SHDA shall continue its efforts to

ADB . . .

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government spending for social services and salary increases for government workers. Growth next year will be supported by the government’s “Build, Build, Build” program, as well as private investments, which have also been one of the highest contributors to economic growth this year apart from household consumption. “The pace of growth has been maintained since the release of the Update in September, but some downside risks for individual Southeast Asian economies have intensified. Robust domestic demand continued to drive growth in the subregion,” ADB said. For Southeast Asia, the average growth outlook was also retained at 5.1 percent this year. However, growth projections for the region were cut to 5.1 percent from the initial estimate of 5.2 percent. In terms of inflation, the ADB estimated that commodity prices will ease to 2.7 percent in 2018 and 2.8 percent in 2019, from the September forecast of 2.9 percent in 2018 and 2.9 percent in 2019. “Commodity prices have been on a downtrend since the release of the Update. Central banks continue to implement measures to counter price and foreign exchange volatility resulting from a stronger US dollar, the impact of bad weather and natural calamities, slowing global demand for exports, and rising trade tensions between the PRC [People’s Republic of China] and the US [United States],” ADB said. ADB said the region, as a whole, will also not be significantly affected by the China-US trade tensions and will continue to post robust economic

Subway. . .

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The Makati Subway, the first of its kind in the country, will be a joint venture between Makati City and a consortium of local and foreign investors, with no cash out on the part of the city. The 30-year concession with the consortium includes maintenance and repair of the coaches and the control hub. Once completed, the subway system will be able to service up to 27,000 passengers per hour per direction. The system also promises an interval of three to six minutes between trains on the first year, with 12 operational trains. The subway system will have two tracks, up to 10 underground stations, and air-conditioned coaches, which can accommodate 200 persons per car. The entire system spans 10 kilometers with a train yard, maintenance depot and central command center at ground level. The stations will have at least 30 station entrances linked to destinations across Makati, which will spur the growth of small and medium businesses. It will also be linked to ferry transport, interchanges to the existing MRT 3 line, as well as potential links to the future Japan International Cooperation Agency-funded Metro Manila subway, and to future parking structures and transport feeders

include in the BOI IPP [Investment Priorities Plan] the low-cost housing up to P3 million within Metro Manila and above P2 million to P3 million outside Metro Manila,” the resolution added. Further, SHDA said it would pursue an agreement with the BOI and the Bureau of Internal Revenue to facilitate the issuance of a BIR ruling that will permit low-cost housing developers to avail of income tax holiday. Developers will also “work with Credit Information Systems Act to come up with a reliable, comprehensive and centralized credit rating facility.” The SHDA hopes to reduce interest rates and collateral requirements for housing loans through this initiative. The resolution was signed by SHDA Chairman Willie J. Uy and President Christopher G. Narciso. Housing and Urban Development Coordinating Council (HUDCC) Chairman Eduardo D. del Rosario and former SecretaryGeneral Falconi V. Millar also inked the resolution. The SHDA and the HUDCC are collaborating in achieving the vision of the National Housing Program, which aims to build adequate, livable, affordable and inclusive communities. The two parties “recognize the need to accelerate housing production and meet medium-term targets for the informal sector, the socialized, economic and low-cost segments.” Elijah Felice E. Rosales growth until next year. ADB retained its regional growth forecast for 2018 at 6 percent and for 2019 at 5.8 percent. Excluding the newly industrialized economies of Hong Kong, China; the Republic of Korea; Singapore; and Taipei, China, the regional growth outlook is maintained at 6.5 percent for 2018 and 6.3 percent for 2019. Lower international commodity prices and central bank action to calm market volatility means inflation in developing Asia is forecast to be 2.6 percent in 2018 and 2.7 percent in 2019, down from 2.8 percent previously forecast for both this year and next. “The truce on trade tariffs agreed by the United States and the People’s Republic of China is very welcome, but the unresolved conflict remains the main downside risk to economic prospects in the region,” said ADB Chief Economist Yasuyuki Sawada. “That said, we are keeping our forecasts for the region’s growth unchanged for this year with some of the biggest economies continuing to hold up well.” Growth in the PRC, the second largest economy in the world, is still expected at 6.6 percent in 2018, moderating to 6.3 percent next year. Growth momentum continues in India on rebounding exports and higher industrial and agricultural output. Growth is predicted at 7.3 percent in 2018 and 7.6 percent in 2019. Gross domestic product growth in Central Asia in 2019 is now forecast at 4.3 percent, up from the 4.2 percent forecast in September, as a recovery in public investment and higher output from the Shah Deniz gas field enhance prospects in Azerbaijan. South Asia’s 2019 growth is now pegged at 7.1 percent versus the 7.2 percent forecast in September. The Pacific is on track to expand 3.1 percent in 2019. outside the existing business districts. By 2024, Makati City is eyeing to have 18 trains with a two to four-minute interval. The city is also prepared to accommodate as many as 40,500 passengers per hour during peak hours. The train system will run on an 18-hour operational cycle. The subway system is expected to increase work productivity by cutting down the daily commute or travel time of workers. According to Jica’s congestion valuations, the Philippines will gain at least $600 million annually in GDP just for enhanced productivity. A reliable, comfortable and highly efficient mass transport system will result in less traffic congestion and parking woes in the country’s premier financial district. Feasibility studies project 270,000 fewer cars in the streets of Makati by 2048. This makes the Makati Subway a more eco-friendly and sustainable solution as well, with a projected reduction of 2.3 million tons of CO2 annually in greenhouse-gas emissions by 2048. Interestingly, the project will allow for an additional 320,000 residents in Makati City. Besides enjoying a walkable city with considerably less pollution, residents will also enjoy 20 percent higher land values because of the new transport system. The figure was based on the experience of other Asian cities like Bangkok and Hong Kong.

Business

Thursday, December 13, 2018

WHY DOES THE WORLD NEED A NEW COMPACT ON MIGRATION? Speaking truth to sovereign power By Teodoro L. Locsin Jr. | Secretary of Foreign Affairs

AS wars, organized crime and the harshest impacts of climate change deepen poverty and misery and drive people to flee to better climes, a UN-led initiative had nearly 170 of its members sign this week in Morocco a Global Compact on Migration (GCM)—a document that, while nonbinding on states, is nonetheless seen as a necessary tool for governments and migrant-rights advocates to use in pushing for compliance with an earlier UN instrument, the International Convention on the Protection of the Rights of All Migrant Workers and Members of their Families (Icpram). Also referred to as the “Migrant Workers’ Convention,” the Icpram was enacted by the UN on December 18, 1990. The Philippines, one of the world’s largest labor-sending states, understandably had a key stake in ensuring a better “world order,” so to speak, for migrants. The Philippine Department of Foreign Affairs, particularly through its Permanent Mission in the UN in New York, was actively involved in deliberations leading up to the GCM, and in July it hosted in Manila one of the last meetings for finalizing the Compact. The DFA’s involvement in the GCM process coincided with the Philippine government’s own efforts to improve, nay, overhaul, bilateral arrangements with key Middle East countries that host some of the largest groups of overseas Filipino workers. The BusinessMirror’s “Broader Look” edition this week features views from the nonstate advocates for migrant rights and welfare, and from the government, via DFA Secretary and immediate past Philippine Representative to the UN Teodoro L. Locsin Jr.

XCELLENCIES, ladies and gentlemen. We thank the Kingdom of Morocco for its warm and generous hospitality. These are days of fear, fury and confusion. Some of our friends in today’s endeavor have withdrawn under pressure from their constituencies. And they must indeed respond to them for we are democracies. But while some of the lights are going out in the West as once they did, the bright shining lights of the likes of Germany, France and Spain continue to push back the darkness enveloping the migrant experience. The Philippines is not discouraged. The GCM enjoys near universal support and those not yet ready to commit recognize the clear need to discuss migration. We have defeated the notion that migration is bad; quite the opposite. And we did this with facts and not frightful fantasies of losses of jobs no Westerner would take. We did it with reason by showing that migrants have been useful additions to host countries. Not fear but facts shaped our perception; reason not passion distinguished discussion at the UN if nowhere else, and we should be proud to acknowledge that a decent regard for the opinion of mankind dictated our decision to adopt the Global Compact today. Migration is a shared responsibility of sending, receiving, and transit states. No one state can address it alone; nor should any leading state take the lead in saying what can be done for and about it. That, simply, is the message of the Global Compact for Migration. Not just the Compact of Marrakech but the Global Compact for Migration at all times and in all places. The Compact does not derogate one iota from sovereignty. On the contrary, it reveals sover-

LOCSIN

eignty’s 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 countries of origin, through countries in transit, to where finally they end up. The Compact merely speaks truth to sovereign power. Sovereignty is as much a duty of care as it is an assertion of unlimited freedom of action. The two combine in the willing assumption of that duty on the part of states. And that is the problem. States wish they could pick and choose which migrants to take; and for the most part they are able to. But migrants do not stand on auction blocks, impassively awaiting the cry of the auctioneer: “Sold!” That is the fond desire but this is the modern world. To select from a moving tide of humanity—fleeing the injustice of places with bad governments—or the injustice of God putting them there at birth—cannot be a neat

AP/OLIVIER MATTHYS

EDITOR’S NOTE:

AN installation depicting migrants is placed at the entrance of the UN Migration Conference in Marrakech, Morocco, on December 11, 2018. AP/MOSA’AB ELSHAMY

process. Migrants are not slaves in transport but free human beings on the move, with more courage to improve their condition abroad than endurance to persist in the wretched places they must flee or perish. And while the lust to wander is immemorial, still there is no place like home if you can live in it. Sometimes the needs of state and migrants overlap; sometimes not; hence the false and ugly narratives of migration peddled by those who have benefited from migration but fear too much of it. Western cities would be cesspools without migrants; and there would be no World Cup as my friend Fernando of Mexico said—or the games would be far inferior to what we have cheered. This is the enigma of arrival: the arrival of needed migrants—some or even most of them—but not all. This is where sovereignty comes up against—not a challenge to its sovereign freedom to act—but to the moral imperative to live up to a standard of reciprocal decency in its actions. For one day a sovereign

people may find themselves migrants as well. No enforceable obligation can be laid on sovereignty. But certain standards are expected of it. 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. The Global Compact for Migration took two years of difficult negotiations over complex issues. But for the ironic opposition of two great powers—one a country of migrant origin and the other entirely composed of migrants—we persevered in the assurance that decency would prevail. And it is in decency that we anchored the Compact. We were emboldened by the thought that in the worst of times hateful of migrants, we had the best chance of producing the most enduring document. A document on migration with the fewest illusions; fired with the utmost sincerity, and wholly devoid of the least

purpose of evading obligations freely assumed and never imposed, to be willingly carried out. A document that, when the pendulum swings back to decency, will call for easy improvement by being built on an enduring foundation of the best that was possible in the worst of times. As we said at the final round: “If this fails adoption we won’t 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 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. Thank you for adopting the Global Compact of Decency for Migrants. Our fears are allayed. Our hopes are raised.

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Editor: Dennis D. Estopace | Thursday, December 13, 2018

A ‘wonderland’ for migrants: Views on the ground

By The OFW Journalism Consortium

HERE’S a new “drug” being peddled to migrants: the Global Compact on Migration.

So say some experts who called such new agreement a “wonderland.” On December 5 to 7, at the 2018 Global Forum on Migration and Development (GFMD) in Marrakech, Morocco, this Compact became a done deal, with its signing by 168 member states of the United Nations. Some pundits consider the GCM’s completion as the participation of origin, transition and destination countries —in just two years— in discussions surrounding such a sensitive and politicallycharged topic such as migration. The GCM, however, is not an international legal instrument — unlike a predecessor migrationrelated instrument called the International Convention on the Protection of the Rights of All Migrant Workers and Members of their Families (Icpram). The GCM comes some 28 years —on December 18, 1990 to be exact— after the United Nations enacted the Icpram, also referred to as the “Migrant Workers’ Convention.” The signing of the GCM in Morocco is decades-long in the making. Discussions began in 2006 with a UN High-Level Dialogue on Migration approving the annual conduct of non-binding informal discussions, called the Global Forum on Migration and Development (GFMD). The turning point was 2016, at the United Nations High-Level Dialogue on Migration and Development in New York. States agreed to produce a GCM and devoted two years to negotiate, finalize and agree on the contents. Amid touchy issues, such as the massive exodus of Syrian refugees to Europe beginning 2015, the GCM document bore fruit last July 13. University of the Philippines Professor Jorge Tigno notes a key feature of the GCM: it defers to the sovereignty of states. So even if this so-called principle of the GCM is lumped together with other principles—adherence to the rule of law, pro-human rights, gender and child sensitivity, among others—those are a “wonderland of principles,” Tigno said.

Earthey’s

FOR many Filipinos, that wonderland is not the GCM but Semaphore Park in Australia. A street there, Beachway Avenue, is Beth Pitogo-Earthey’s fairyland as she enjoys retirement with former unionist Barry Earthey. The Filipino-style hospitality is housed inside the Earthey’s home. The brown wooden flooring is spick and span. The 45-square meter-wide sala is spacious, with furniture and walls carrying photos of the Eartheys’ children and grandchildren. This is the sala where Filipinos, like seafarers docking in Port Adelaide or newcomers from Singapore, are treated like family. Ten-year Adelaide resident Bernadette Camiling, once based in Singapore, organizes meet-ups with compatriots sometimes at the Earthey’s sala. The Filipinos who now arrive here in this side of South Australia state have found home here, living in streets and suburbs nearby the Eartheys. Tagalog or Bisaya banter buzz around Semaphore Park, with these speakers enjoying their newfound wonderland together with older-resident Filipinos. These Filipinos’ arrivals in the past years came at a time when Australia was more welcoming to foreigners. That was why Beth was up-and-about in her driving, going back-and-forth to fetch newly arrived Filipinos and forging new friendships. The numbers swelled as the Pacific’s most powerful country

reached 25 million. This demographic trend made Australians and their parliament concerned.

Influx

AS in any host country, Australia revises its visa categories to manage the influx of foreigners and foreign workers. As in any developed country also that hosts migrants, Australia has its own demographic shortfalls. Industries have clamored for more labor, and even revisions to temporary work migration schemes so that firms enjoy the services of foreign workers. Prior to March 17 this year, Australia had a visa subclass 457 program that allowed employers to sponsor the entry of temporary migrants. A day later, the 457 program was abolished and replaced with the new temporary skills shortage (TSS) program. Under the latter, short-term workers hired will only stay in Australia up to two years, and medium-term workers up to four. Permanent residency pathways are not guaranteed in TSS. Occupations covered by this temporary workers program have been slashed. Even permanent residency visa programs have toughened with new rules that were enforced last July, such as English language competency and longer years of residency to be eligible for permanent residency. Not surprisingly, since the new TSS program’s implementation, running totals of the number of skilled and sponsored working visas dropped. If these visas fell to 183,000 in 2017 even under a visa 457 era, what more this year under the TSS? “No wonder I have yet to meet temporary Filipino workers these past few months,” the accountant Camiling said last May two months from the TSS scheme. “New arrivals to Adelaide [South Australia’s capital] would usually come monthly or every other month,” Beth Earthey said. “[And] we would usually fetch them.”

Australia

THE wonderland for immigrants that is Australia has tightened its grip of immigration. Some pundits believe this tightening is in response to politically heated debates in Canberra on immigration and to a billionaire’s campaign against migrants to Australia. Australia's new immigration measures go against a new era of global optimism on international migration. With the signing of the Global Compact on Migration by several countries, how Australia’s policymakers respond is awaited. Multilateral organizations like the World Bank and the International Monetary Fund released reports this year saying that immigration has brought economic benefits to developed countries. And with the Morocco event this week, UN member-states affixed their signatures on a pact on safe, regular and orderly migration that countries can work positively on.

Relief

MIGRATION is “the most effective way” for countries to share prosperity, says the World Bank report “Moving for Prosperity: Global Migration and Labor Markets.” And for host countries like Australia, migration’s economic gains for these migrants do not come at these countries’ expense. “Almost every empirical study finds that increased labor mobility leads to large gains for the immigrants and positive overall gains for the destination country,” the World Bank wrote. The IMF, the World Bank’s sister lender group, affirmed this observation in its World Economic

Outlook 2018 report. And if these developed but ageing countries want to sustain their levels of economic growth, they may need more migrant workers to address labor shortfalls. So amid the political backlash that immigration ferrets out, “immigration can relieve the strain of ageing and contribute to productivity,” the IMF wrote. A growing optimism to global human mobility may be the new normal for countries sending and receiving migrants. For multilateral institutions like the World Bank and the IMF, such optimism is sealed in the GCM.

Milestone

MARUJA MILAGROS ASIS of the Scalabrini Migration Center (SMC), however, considers the GCM a milestone. “In terms of agreement on key principles: common understanding, shared responsibilities and unity of purpose regarding migration.” That is “remarkable,” Asis said, referring to the terms of completing the GCM within the time schedule. “It’s an important feat.” The GCM’s predecessor international “agreement,” the Icpram, however, only had sending countries ratifying it. The Philippines ratified the Migrant Workers’ Convention in 1995 after an international backlash on the execution in March that year of domestic worker Flor Contemplacion in Singapore. With wanton disregard, rich countries shunned this Convention: the Icpram may have been “too strong on rights for some countries,” according to Asis. According to former International Labour Organization (ILO) Migrant Branch Chief Manolo Abella, “the 1990 UN Convention was a shot in the dark.” “[The Icpram was] allowed to go through the UN process because of pressure from developing countries who wanted equal rights for irregular migrants, but with little hope of getting accepted by the major immigration countries.”

Footnote

THE Migrant Workers Convention was only a footnote on page 1 of the July 13 GCM document. Had this Convention been mentioned in the GCM’s preamble, that “would have sent a stronger message,” Asis told the OFW Journalism Consortium. But since there are only few country ratifications to the Icpram, Asis asks, “What good does it do?” This is where the GCM provides a glimmer of hope that can bring migrant-origin and receiving countries to the table and discuss issues on protecting migrants’ rights that are at the heart of the Migrant Workers Convention, according to Asis. Nonetheless, some pundits believe the Philippines and its workers could still benefit from it depending on how the government will use the GCM despite its inherent limitations.

Beneficial

FORMER Labor Secretary and migration expert Marianito D. Roque said the government could use it as terms of reference in negotiating for new bilateral agreements with other host countries for OFWs. “From a labor-sending standpoint this would be beneficial because it affords more protection and the more focus on how the migrants are being protected given the limits of political boundaries on migration,” Roque said. With the good practices already benchmarked in the GCM, host countries, especially those which will sign it, will already have an idea on what protection they should provide to foreign workers. He noted the GCM may also present new policies on migration management, which could be adapted locally. Even with the Philippines’ wealth of experience and policies on migration, Roque added the country could still learn a thing or two in managing overseas workers from other countries, which will be

consolidated in the GCM.

Sentiment mapping, monitoring

THE GCM could be used by authorities to finally create a National Strategic Action plan on Migration, according to the head of the Blas F. Ople Policy Center and Training Institute head, Susan Ople. “The [GCM] reflects the common sentiments and views of the world when it comes to migration,” Ople said. “We will be able see which of its provisions we are already practicing and which ones we still lack.” She added that while the UN will be unable to compel countries to comply with the provisions of the GCM, it will give these countries the mandate to monitor them. “Although it [GCM] is not legally binding, the UN still has all the diplomatic instruments necessary to encourage everyone to embrace the principals of that compact,” Ople said.

Naïve approach

TIGNO considers the GCM like a Christmas tree. “[It’s] the wonderland; the promised land. Why? Look at these issues,” he said during a roundtable on the GCM organized by Kanlungan Centre Foundation Inc. The issues Tigno raised included the GCM as being noncompulsory, its adherence to sovereignty as against human rights and the “whole-government approach as against the whole-society approach.” “Actually what is said in the document are not new,” he said on the July draft. “[Most of what were said are] found in UN conventions.” Tigno sees the GCM as “putting migration under the ambit of the UN with special objectives.” “This is about anticrime protocols. [It’s like being in] a room full of advocates with different advocacies in migration,” Tigno said. “The document is like a shopping list.” According to him, when viewed from a policy stand point, the GCM “is a problematic conflated framework.” “It uses terms [that] have the same meanings [as the terms in the Migrant Workers’ Convention].” Tigno also noted discrepancies, citing as example the tone of the No. 4 objective in the draft GCM—refers to proof of legal identity—and addressed to sending states while objective No. 5 “is more of a request to receiving states.” Overall, the GCM “has a naïve approach to the realities of migration,” according to Tigno.

Withdrawal

THE agreement of almost all UN member-states to the GCM to this compact on migration may be a means to “still nudge some countries” into making some improvements on migration management,” Abella said. But some traditional receiving countries still won’t budge. Leading the way is the United States, now under the Donald Trump era. The other country which did not sign the GCM is Hungary, with its Foreign Minister Peter Szijjarto remarking that the Compact is “extreme and biased.” Some other countries are sending feelers of withdrawing support, like Austria, Poland and the Czech Republic. Just weeks after the approval of the GCM in July, Australia and its officials are tinkering with the idea of withdrawing its support to the GCM. Australian Home Affairs Minister Peter Dutton said last July Australia will not surrender its sovereignty even it signs the GCM. There are reports Australia will withdraw its support to the GCM.

Rules

HOWEVER, a forthcoming Global Compact for Refugees already has Australia’s support. As for how the country is handling immigrants under a new set of rules, Dutton now wants to further slash migrant intake in 2019 by some 30,000 more. Though, Canberra wants more skilled mi-

grants to come to Australia —and it wants foreigners to go to “regional Australia” or towns, small cities and areas that lie beyond the major Australian capital cities, like Sydney (New South Wales state), Melbourne (Victoria), Brisbane (Queensland), Canberra (Australian Capital Territory), Perth (Western Australia) and Adelaide (South Australia). Most of the foreigners are densely found in Sydney, Melbourne and Brisbane, government-released census data show. Australians take pride in the country being multicultural. However, Australia does not have an explicit population policy, says the think tank Committee for Economic Development of Australia (Ceda). It is migration that is driving the increase of the Australian population, a November Ceda report adds, and that is mitigating the impact of an ageing society. Ceda also affirmed what the World Bank and IMF noticed about migration: “Immigration has been a key contributor to the economic progress and success of Australia.” For a country still short of workers, immigration in Australia “has the potential to reduce intergenerational inequality by easing pressures on the work force,” Ceda adds. The group even took a swipe at Home Affairs’ means to reduce annual migrant intake: “A population policy for Australia is not about targets for or limits of size or growth.”

State-led

IN the same roundtable discussion, Tigno’s colleague Assistant Professor Jean S. Encinas-Franco wondered why the drafters of the GCM needed to separate the refugees from migrants. Also, Franco expressed concern on how the GCM could “ensure rights-based and gender-responsive processes [as] this [initiative] is definitely State-led.” “There is no explicit mention of Cedaw [Convention on the Elimination of all Forms of Discrimination Against Women] when this is the most ratified convention,” she said. Franco also noted that the limitation of the GCM is its “failure to address the universalities of the migration experience when in reality

there are different live experiences.” “In reality, it’s [migration] more complex,” she said. “In terms of migration and development we need to look at it. Migrants are not really the poorest of the poor.” Franco also noted that the GCM should also address trade and migration. “[The] links of trade and migration are very unequal,” she said citing as example the Japan-Philippines Economic Partnership Agreement. Franco believes the agreement contained “little mention of nurses [but] more on trade deals.” Dr. Jocelyn Celero, Assistant Professor at the Asian Center in UP Diliman, agreed with Franco’s view that the GCM “is State-led and where state agenda is the priority.” For Celero, the GCM glosses over many issues. “There is a lot of vague concepts,” she said in the same roundtable discussion. “What is the role of academia, especially in raising awareness [and] generating analysis of data?” Celero added, “There is a need to raise the voice of migrants more.” She thinks the voice of migrants in the GCM “is missing.” “Migration is a joint effort, not just top-down.”

‘Westphalian’

TIGNO also expressed concern over the role of the States in crafting the GCM. “It’s a Westphalian attempt; a kind of make-believe [and] far from realities of current world order,” he said, adding that the GCM, or the draft he read, “makes the State look good.” “In our experience it is not. Why? The issues of detention, oppressive laws toward migrants, [and others]. Migration should go with a heart.” Ed Tadem of the UP Center for Integrative and Development Studies also said he is bothered by the “State-led processes.” “[It’s] as if nothing can really move without the State when in reality we can even [move] without the State,” Tadem said. “We need to engage the grassroots. We need to integrate our efforts and think outside the State box.”

A6 Thursday, December 13, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Doing the right thing

XACTLY 117 years after American troops looted three bells as war booties from the charred San Lorenzo de Martir Church in Balangiga, Eastern Samar, the US government has returned them. Short of describing this development as American capitulation, Presidential Spokesman Salvador S. Panelo credited the strong political will of President Duterte in pushing for the return of the church bells. To recall, the President first made an appeal to the US to return the Balangiga bells during his second State of the Nation Address. The Chief Executive said: “Give us back those Balangiga bells. They are ours. They belong to the Philippines. They are part of our national heritage. The bells are reminders of the gallantry and heroism of our forebears who resisted the American colonizers and sacrificed their lives in the process.” Duterte, indeed, walked the talk. When informed that three top US officials—US Secretary of State Mike Pompeo, Secretary of Commerce Wilbur Ross and Secretary of Defense James Mattis—have expressed their intention to meet with him for the modernization of the Armed Forces of the Philippines, the President said that, before anything else, the United States should first return the bells. “If they won’t return the Balangiga bells, then there’s nothing to talk about. I will not talk to them,” Duterte said. Soon after, US Ambassador to the Philippines Sung Kim disclosed that there was an ongoing effort to facilitate the return of the artifacts. However, reports said veterans in Wyoming put up staunch resistance. With friends in the US Congress, they persisted in holding on to the bells even as consensus was building to “do the right thing.” US Navy Capt. Dennis Wright argued that any US claim to the bells on the basis of some deep attachment couldn’t be justified. He disclosed that in Wyoming, the bells had been ignored for decades, sitting in a warehouse unnoticed. Defense Secretary James Mattis, after notifying the US Congress that the US Department of Defense intends to return the relics to the Philippines, went to Wyoming to assuage those who fear that the US would lose something by returning the bells. He told the veterans that “bells mark time, but courage is timeless.” He added: “By returning the bells of Balangiga to our ally and our friend, the Philippines, we pick up our generation’s responsibility to deepen the respect between our people.” Then the US flew the bells to Manila in a large Air Force plane that is, likewise, full of symbolism. The aircraft is called the “Spirit of MacArthur”—named after Gen. Douglas MacArthur, the Allied forces commander who liberated the Philippines from the Japanese in World War II. Malacañang, calling the return of the three bells “a milestone,” thanked stakeholders who helped make the return of the bells possible, noting that it has further strengthened the friendship between the two countries. Panelo said: “We express our sincerest gratitude to all stakeholders from both the Philippines and the United States who worked tirelessly and selflessly for the return of the bells. This unprecedented gesture is well appreciated and will surely forge a stronger and more enduring relationship between the two long-time allies and friends as we finally close a tragic chapter in the two countries’ shared history.” Now that a chapter that proved to be a source of irritation between the US and the Philippines has closed with the return of the Balangiga bells, it’s time to see the two countries move forward and work together for their mutual benefit. Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

Stock Market 019: Volatility and the losing Maroons John Mangun

OUTSIDE THE BOX

HE sports industry is about statistics and so is the stock market. Because there are so many variables—mostly uncontrollable—in both games, we like to think that we can wrap everything up in nice little boxes. Have enough of those boxes and look inside as many as possible and we might be able to predict results.

Unfortunately it comes back to British Prime Minister Benjamin Disraeli: “There are three kinds of lies: lies, damned lies and statistics.” Take the University of the Philippines (UP) Men’s basketball team, for example. “Fighting Maroon” hearts were singing with joy when the headlines read: “UP Maroons nail first UAAP Finals berth in 32 years.” Obviously, a new day had dawned and a new trend was in the making. They lost the last game they played by a score of 99 to 81. Not only was that a decisive victory but

in the second quarter UP was down by a dismal 28 to 13. Terrible game. Maybe we need to open another one of those statistics boxes to find some rays of hope...or maybe not. If we ignore the UAAP 1939-1940 season when the Maroons were playing as “University of the PhilippinesManila,” UP has the worst record of the eight UAAP schools. The trend is not broken. It only burped momentarily. The point is that the numbers are truthful but the interpretation of the numbers is what creates the “three kinds of lies.”

Imposition of multimillion-peso deposit

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Cecilio T. Arillo

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Remember the famous Indian fable about the six blind men that come across different parts of an elephant? Each blind man creates his own version of reality from his individual perspective. None of them happened on the elephant’s genitals or the fable might have been even more interesting. Ask a local stock market investor what the market has been doing in the last three months. The most accurate—if not correct—answer might be: “The main index went down for a while and then it went up and then down and has been going up for a while.” On September 14th, the Philippine Stock Exchange Composite Index closed at 7,413. By November 13th the PSEi had fallen to 6,843 or a relatively large 7.7 percent. As of December 12th the PSEi had gained 8.9 percent from the November low. However, the reason that the analysis of “down, up, down, up” is accurate but not correct is this: The net change between September 14th and December 12th—nearly 60 trading days—is 0.50 percent. The correct answer to “what the market has been doing these last three months” is—“Nothing.”

DATABASE

NOTHER serious problem port stakeholders encounter is the highly questionable imposition by international shipping lines of multimillion-peso deposits on containers and the very slow processes of getting a refund for such deposits. With regard to this issue, a foreign shipping line mandatorily requires customs broker, importers or truckers to post a cash deposit ranging from P5,000 to P20,000 (amount varies depending upon shipping lines) for every container as security deposit. Port stakeholders are complaining that such deposit is unreasonable. Why? The answer is simple: there is no more need for these deposits because before clearing a container for release by a shipping line, a customs broker is required to execute a letter of guaranty in favor of the shipping lines that stakeholders will return the containers once emptied. On top of that, a broker or importer pays a premium amount

of P20 for each container to the Association of International Shipping Lines as a sort of insurance to answer in case a container will not be returned, is lost or is damaged. There is an over-security here: container deposit, letter of guaranty and AISL insurance. This container deposit has been abused and is continuously committed by these international shipping lines. In the ideal flow of circumstances, upon the return of an empty container, it is a must for the shipping lines to release without delay to the broker, importer or trucker his container deposit. This deposit is only held in trust for its owner by the shipping lines as a security for the return of containers. Upon the return of its empty

Recently, a stakeholder, MOF Inc., filed a Petition for Voluntary Liquidation, which was granted by the Pasay Regional Trial Court as several port stakeholders were not able to refund their respective container deposits amounting to more than P100 million for still unknown reason.

container, a shipping line has no more right to withhold refund of the corresponding container deposit. Sadly, however, that ideal flow seldom happens. The prevailing practice is that, it will take a minimum of two weeks to even years before a customs broker, trucker or importer can get the refund of his deposit. This delay is unfathomable, to say the least, as brokers’ operational funds are usually depleted because of this unconscionable practice.

Millions of peso deposits for still unknown reason

RECENTLY, a stakeholder, MOF Inc., filed a Petition for Voluntary Liquidation, which was granted by the Pasay Regional Trial Court as several port stakeholders were not able to refund their respective container deposits amounting to more than P100 million for still

Volatility is defined as “big swings in either direction” and there is a large school of thought that thinks this means something. There is an index called the “VIX” (CBOE Volatility Index) that, in turn, has led to the “Fear Index.” The idea is that the larger the volatility, the greater risk of a huge move higher or lower and the “fear” is that high volatility may lead to a crash. And while some see volatility as the number one market forecaster, in real life trading it means almost nothing. Black Swan author Nassim Taleb titled one of his papers “We Don’t Quite Know What We are Talking About When We Talk about Volatility.” The fact that UP made the UAAP finals doesn’t change anything, at least for now. The fact that the PSEi went from 7,400 to 6,800 to 7,400 also means little. The local stock market has basically been going sideways since May 2018 as it did in 2015 and 2016. Trade the volatility but invest in the big picture. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

unknown reason. As the MOF liquidation documents show, it has only a remaining more or less P5 million both in cash and assets. With the grant of the said petition, the possibility that owners of container deposit will be refunded is zero. With the absence of a government body that ought to have a regulatory power over these international shipping lines, port stakeholders are being continuously deprived of their hard-earned money. If we have a regulatory body to oversee and regulate the practice of these foreign shipping lines and their Philippine agents in collecting these container deposits, these problems could have been avoided. Port stakeholders are also currently experiencing problems on the return of empty containers to various shipping lines. They are all aware that they are under obligation to return all empty containers within the prescribed period; otherwise, the shipping lines will impose on them the corresponding detention fees or charges. With regard to the return of empty containers, there are instances when the shipping lines refused to accept a returned empty container on the common pretext of lack of space. See “Arillo,” A7

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Can the 3rd telco company deliver?

Rejoice! Msgr. Sabino A. Vengco Jr.

ALÁLAONG BAGÁ

Val A. Villanueva

BUSINESSWISE

IME and again, BusinessWise has been consistent in voicing out its belief that the slow Internet connectivity in the country is borne out of the lack of cell towers.

The mobile phones, personal computers and laptops we use are completely useless without a network to power them. The speed by which we receive Wi-fi in our homes and the data we get when we’re outside are all reliant on the number of cell sites within the area. As I have stated in at least two previous columns: I do not believe that it is the intention of Globe Telecom and Smart-Philippine Long Distance Telephone to deliberately rob their customers of better and efficient services, although as a loyal customer since its dial-up days in the 1990s, I too have often complained about PLDT’s bad service. Unfortunately, the road to providing excellent Internet service has not been easy for both telecom giants, and they have no choice but to bear the brunt of angry customers and grandstanding politicians. Despite their vast war chest and a gigantic bandwidth at their disposal, the two giants are hounded by a notso-friendly environment that has effectively stalled their expansion plans. There are simply not enough cell towers to distribute the needed signal to speed up Internet connectivity in the country. Telecom companies’ woes start with site acquisition. They have to disabuse the minds of the people in an area they wish to put up their cell sites on that cell towers do not affect their health. Various reports citing radiation leakage from these cell sites abound online. A case in point was the rejection by the San Lorenzo Village Homeowners Association in Makati of Globe’s expansion project in their subdivision. Granting that a telecom firm succeeds in getting the right location and securing the approval of its owner, there are still the neighbors in the vicinity to contend with, and the right of way problem is often laden with graft. The nightmare doesn’t stop there. In a perfect world, it takes two years for a single tower to be put up. In the Philippines, where bureaucratic red tape rules, constructing a single tower takes an eternity. Prolonged license tenders and corruption in local government weigh down the rollout of the much-needed infrastructure to improve the country’s Internet connectivity. To date, the two telecom companies have only been able to build only a little more than 20,000 cell sites in more than 30 years of operation. Most of these aging cell sites are inoperable while undergoing retrofitting. Worse, those of Globe’s, which are in remote areas, are continually being blown up by Communist insurgents for nonpayment of revolutionary taxes. One wonders why those of PLDT’s remain unscathed. Just imagine the time and money spent to build these telecom infrastructure, for them to be merely sabotaged by that bandit group, the New People’s Army. For our country to have at least a decent Internet service, we need at least a minimum of 60,000 cell sites. By comparison, Vietnam has over 250,000; Singapore, Hong Kong and Thailand have over over 300,000 each. The country’s Internet delivery will remain at a snail’s pace, thanks to a ridiculous expanse of certifications and the time it takes for local government units (LGUs) to approve them. Compared to other countries where construction processing takes only a day, telecom companies here have to endure at least 24 stages and close to 100 days just to secure a construction permit. This already excruciatingly drawn-out exercise often becomes 10 times slower due to corruption and inefficiency. The time it takes for an LGU to approve each permit is simply mindboggling. Not only that, most of the

charges that the local government levies are unjustified, according to industry sources. For example, an LGU charges P200,000 per year on a single tower. Multiply that by 30,000 cell sites.… You get the drift. There are other permits and requirements, including for environmental impact and the concern about building cell sites in protected areas. The point is, there is no need for a third telco. If President Rodrigo Duterte is truly serious in improving the country’s Internet connectivity, he only needs to address swiftly and astutely the problems being experienced by the two telcos we now have. The dispatch with which he is relentlessly pursuing his controversial war on drugs would be better applied in solving the country’s Internet woes, among other things. Mislatel—a consortium of Davao businessman Dennis Uy and China Telecom—was confirmed by the National Telecommunications Commission as the new major telecommunications player. It secured a provisional third telco rights on November 7 of this year, after regulators disqualified its two rivals, Philippine Telegraph and Telephone Corp. of Benjamin Bitanga and Salvador Zamora II, and Sear of former Ilocos Sur Gov. Luis “Chavit” Singson. A third bidder, PT&T, has questioned before the Supreme Court its disqualification. The case is still pending. With the hostile environment in which Philippine telcos operate, how then can Mislatel overcome complications in building cell sites of its own? And can it ever deliver within three years as Duterte has promised? In my humble opinion, it simply can’t. This early, China Telecom—which probably now has a more objective view of the country’s telecom landscape—is reportedly already feeling overwhelmed by the enormous challenge it is about to face. In talks with local industry players, the Chinese firm was allegedly “fidgety” when it was briefed about the project it has signed up for. Mislatel will likely piggyback on existing cell sites of both PLDT and Globe. Globe, if it hasn’t done already, will sell its existing cell sites to Ayala Energy and Infrastructure Group, specifically its subsidiary, Ayala Infra. It is more likely that Mislatel is now in talks with Ayala Infra and PLDT for the rentals of their cell sites. But let us not lose sight that these cell towers are either undergoing major repairs or retrofitting, which will take years to finish. In the past three years, Huawei, which has been tasked to do the job, has been able to retrofit or repair at most less than 1,000 cell sites out of 30,000. These repairs and retrofitting are meant to enhance the two telcos’ services alone. It has not yet provided for another retrofitting to accommodate a third telco player. Just like his yet-unfulfilled 2016 promise to improve the Metro Manila traffic situation in 100 days, Duterte‘s most recent bold statement to solve the country’s slow Internet speed in three years sounds more like a pipe dream. Even if he were long gone, the third telco player will still be maneuvering around the country’s treacherous business climate. It is not far-fetched to imagine it will eventually be bought out by or merged with either of the two local telecom giants. Don’t get me wrong! I am all for healthy competition, if the situation will be enhanced by several players offering the best package from which consumers can choose from. China Telecom brings with it a fairly impressive pedigree. But Dennis Uy? For comments and suggestions, e-mail me at mvala.v@gmail.com

HE Third Sunday of Advent is also called Gaudete (Rejoice) Sunday because of its dominant note of gladness. In our world today we surely need some real joyfulness. What does it mean to be truly joyful? What can lead us to it? The Gospel (Luke 3:10-18) and the other readings for this Sunday have a lot to tell us.

Reoice in the Lord always SAINT Luke highlights the note of joy that characterizes the story of God’s saving act in favor of humankind. “Rejoice, favored one!” (Luke 1:28) is the angel’s opening words to Mary. The evangelist is simply borrowing from the prophet Zephaniah (3:14.16) who, in the First Reading, clearly sees together salvation and joy: “Shout for joy! Sing joyfully!... Fear not...the Lord is in your midst.” There is no need to fear if God Himself liberates His people from the sentence of sin and restores them to life. No wonder Mary glorifies the Lord and resoundingly rejoices in God her savior (Luke 1:47). In fact, according to Zephaniah, God Himself is joyous at the vindication of His beloved: “He will rejoice over you with gladness,

and renew you in His love. He will sing joyfully because of you, as one sings at festivals” (Zephaniah 3:17-18). Saint Paul (Philippians 4:4-7), in the Second Reading, chimes in with his impregnable affirmation of joy in the Lord. This joy is basically serenity and interior peace in the love of God. It is neither measured by noisy demonstrations nor marred by deep anxiety or derailed by external tribulations. For nothing can “separate us from the love of God that comes to us in Christ Jesus, our Lord” (Romans 8:39). As we persevere and remain in contact with God in prayer, and endure in affliction, we actually rejoice in hope (Romans 12:12). Paul writes with unassailable optimism, “I am overflowing with joy all the more because of all our affliction”

Thursday, December 13, 2018 A7

It is not enough to listen or reflect on teachings, however sublime. Actions putting them into practice are necessary. John the Baptizer knows that someone greater is coming after him who will baptize in the Holy Spirit and with fire. (2 Corinthians 7:4). Christians surrender themselves to God’s love, not in fatalism but in confidence and thanksgiving. This peace and joy in the Lord is already a taste of eternal life, of unending communion with Him. It is the blessedness shared by the Risen One with his disciples (Luke 24:36.52).

...As you live in the holy spirit

IF Luke is clear about the joy Christians possess, he is no less emphatic about the qualification for such a life of rejoicing. The crowds ask John the Baptizer what they must do so that they can share in the joy and peace of the reign of God. Nothing out of this world but simple charity to others in need. Sharing and giving to others is a sure sign of conversion from the old selfish way. The tax collectors are not told to abandon their profession, only that they do not enrich themselves unjustly using their position. The soldiers are

asked not to abuse their power or terrorize the people. It is not enough to listen or reflect on teachings, however sublime. Actions putting them into practice are necessary. John the Baptizer knows that someone greater is coming after him who will baptize in the Holy Spirit and with fire. To live as baptized in the Holy Spirit means to live a life cleansed from the ways of the world and fruitful in the gifts of the Spirit, especially in charity and in witnessing to the Gospel of Jesus. So as baptized, one is accountable. The Lord will gather the grain but burn the chaff. That is why we do not cease preparing for the day of the glorious final victory, a day of everlasting joy but also of reckoning. Alálaong bagá, persevering in our ongoing conversion to Jesus Christ is the basis for our lasting joy and gladness. Is the reason why we have little to be joyful about in our life traceable to the parse gifts of the Holy Spirit we manage to manifest and live in accordance with? Like the people seeking guidance from John the Baptizer, we have to ask “What must we do?” and do what we are taught! To rejoice in the Lord always, we have to live in the Holy Spirit. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

‘Masaya ang Paskong Pinoy ng mga MagbaBABOY!’

By Senator Cynthia Villar

ARAMING salamat sa lahat ng bumubuo ng National Federation of Hog Farmers Inc. (NFHFI) for inviting me once again to be here at your festive Christmas gathering. I always look forward to this event every year. I am happy to be with all of you again. Isang taon na naman ang mabilis na lumipas, I hope you all had a good year this year and I wish all of you all the best next year (2019). Ang inyong grupo ay talaga namang isa sa mga aktibong organisasyon sa pakikiisa at pagtulong para ma-achieve natin ang ating collective goal na further growth and development ng agriculture sector. Keep up the good work and I hope you will be as active and participative, or even more, next year. And of course, hangad din natin ang continued good performance ng inyong industriya. That’s for sure, because as I always say, the livestock industry is an important subsector of the agriculture sector, which makes up 33 percent of the sector. Rest assured that as the chairperson of the Senate Committee on Agriculture and Food, I will continue to work on passing a comprehensive livestock and poultry law to fasttrack the sectors’ growth and development throughout the remainder of my first term. Of course, kung papalarin, itutuloy natin sa next term. For your industry, I am pushing for the native animal development in the country and filed Senate Bill (SB) 144, which seeks to promote the “scientific propagation, processing, utilization and development of Philippine native animals” and to create the Philippine Native Animals Development Center. It seeks to create one native animal center in every region of the country. Those are just two of the legislations I am pursuing for the sector you are involved in. It aims to incorporate the development of the native animals together with the strategies to develop the country’s livestock and poultry sector.

Arillo . . .

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Every time that empty containers are refused acceptance by the shipping lines, port stakeholders are forced to wait for a long time until shipping lines are ready to receive the same. What is alarming is that when the concerned shipping line refuses to accept empty containers notwith-

I really intend to hasten the further development of the country’s livestock sector in general, of which all of you here are directly or indirectly involved in. I also filed SB 1758 or the Philippine Livestock Industry Development Act. It will restructure, rationalize and integrate the government’s livestock industry support agencies into the Philippine Livestock Authority in order to strengthen its development, protection and regulatory functions, including the promotion of dairy and native animals, and provide for a livestock development fund, among others. It will also remedy the limited budget support for livestock, it has been averaging at only 2 percent of the yearly appropriations for agriculture. The Department of Agriculture (DA) has not created a broad-based, organized, effort to develop the livestock industry dahil na rin sa limited mandate ng Bureau of Animal Industry, which has always been toward the regulation with very limited focus on livestock development. Our country has not been selfsufficient in many agricultural commodities, especially in livestock. So, only the hogs and chicken subsectors have been growing at roughly 3 percent to 4 percent yearly since 2010, because of the aggressive investments coming from large corporations. Yet, the rest of the livestock sector has been mostly stagnant in terms of production volume and value. Kaya, I hope makatulong ang livestock law. We have also worked on the issue of limited government support in the development of our livestock industry. Ipinaayos ko na sa DA na dapat ay may sufficient budget ang livestock standing stakeholders’ readiness to return the same, they (shipping lines) still impose on them detention fees or charges based on the prescribed period to return. This is plain abuse on the part of these shipping lines, and it must stop. If stakeholders are ready to return their empty containers within the prescribed date, they must not be penalized with detention fees for reasons beyond their control. This

Our country has not been self-sufficient in many agricultural commodities, especially in livestock. So, only the hogs and chicken subsectors have been growing at roughly 3 percent to 4 percent yearly since 2010, because of the aggressive investments coming from large corporations.

sector because they make up a big bulk of the entire agricultural sector, so dapat commensurate. For a subsector which has contributed 33 percent of the production of the entire agriculture sector, it is not fair for livestock to get a small percentage (2.7 percent) only of the DA’s budget. We have a lot of competitive advantages and we should work together in enhancing and capitalizing on them. These include the fact that our livestock remains free from foot and mouth disease. The World Organization for Animal Health (WOAH) has also bestowed on the Philippines the highest level of recognition as a country free from FMD without vaccination. That truly enhances our competitive advantage as it allows us to continue exporting globally. As such, we should continue to prioritize and safeguard public health, especially in the presence of threats from animal diseases abroad, so as not to hinder the growth trend in livestock and poultry. We already have a Food Safety Law (Republic Act 10611) in place and we just have to ensure its strict implementation to better uphold consumer health. Under the Philippine Livestock Industry Development Act that we are pursuing, we also have adequate provision on Animal Health Welfare and Protection. The proposed Philippine Livestock Authority that will be created shall take the lead in the implementation of prevention, control, containment and eradication of animal pests and diseases by providing veterinary health services, and general livestock health support programs. It shall implement conis blatantly illegal and unfair to stakeholders. Also, stakeholders are made to pay the so-called pre-advice notice ranging from P200 to P300 per container. This amount is paid upon conferring with the shipping lines the projected return of their containers. What is objectionable here is that, the shipping lines do not issue receipts as proof of payments. There is a wide implication of this

tinuing programs on surveillance, quarantine and laboratory service, vaccination, animal movement control, monitoring and management of potential epidemic threats, and public awareness campaigns on livestock safety. Our staunch commitment to safety has made the Philippines free from Foot and Mouth Disease since 2010. The WOAH also bestowed on the Philippines the highest level of recognition as a country free from FMD without vaccination. We should also enhance our competitive advantages. One more advantage is in the consistently high meat consumption sa ating bansa. In fact, according to a research company, Chatham House, tayo daw ay isa sa mga fastest-growing meat eaters sa buong mundo. It cited that the Philippines has “one of the highest continuing growth rates. From 2011 to 2021, the growth rate of meat consumption among Filipinos is predicted to be over 30 percent a year for pork, chicken and beef.” So that’s good news. Together with us in the government, your group is in a very good position to not only help sustain the further growth of the livestock sector and the hog subsector but also in addressing challenges you may encounter. Rest assured that as the current chairperson of the Senate Committee on Agriculture and Food, I am doing my best to give the agriculture sector in general and the livestock, and the hog subsector in particular, all the legislative and practical support that I can offer. But for the meantime, let us enjoy this evening’s celebration as well as the coming holiday! Bukod sa masayang Pasko para sa mga magba-baboy, hangad ko rin na maging hanep ang buhay ninyo sa bagong taon! (Speech delivered by Sen. Cynthia Villar on December 5, 2018, at the Christmas party of the National Federation of Hog Farmers Inc. at Kalayaan Hall, Club Filipino, Greenhills, San Juan City.)

non-issuance of receipts. The totality of the above circumstances and other related problems clearly justifies the need for a legislative inquiry in order to craft a law that would empower a government agency to regulate these matters and protect the interest of the stakeholders. To reach the writer, e-mail cecilio.arillo@ gmail.com.

2nd Front Page BusinessMirror

A8 Thursday, December 13, 2018

ADB raises 2019 inflation forecast for PHL to 5.3%

By Cai U. Ordinario

@caiordinario

IGHER-THAN-EXPECTED commodity prices in the country have forced the Asian Development Bank (ADB) to raise its average inflation forecast for the Philippines this year. In an Asian Development Outlook Supplement (Ados), the Manilabased multilateral development bank said inflation is now expected to average 5.3 percent in 2018 before slowing to 4 percent in 2019. However, high inflation did not affect ADB’s GDP growth forecasts for the Philippines. Based on the ADO Update (ADOU) released in September, the country’s GDP growth is projected to reach 6.4

percent this year and 6.7 percent next year. “While inflation is expected to ease, the full-year average is still likely to exceed the projection in the Update. The inflation forecast for 2018 is, therefore, revised up from 5 percent to 5.3 percent. The recent buildup in inflationary pressure should moderate next year, with inflation still projected at 4 percent, as in the Update,” the ADB said.

“Tight monetary policy will kick in following a cumulative rate hike of 175 basis points implemented from May to November 2018,” it added. The ADB said the inflation average of 5.2 percent in the Januaryto-November period has already exceeded its full-year projection in the ADOU of 5 percent. The Manila-based bank said higher inflation was caused by expensive food items due to weak agricultural output, high oil pric-

es and the imposition of higher excise taxes. In terms of economic growth, the ADB said the Philippines’s average GDP growth of 6.3 percent in the first three quarters of 2018 “remained strong” even if it was slower than the 6.8 percent posted in the same period last year. Other factors that contributed to slower GDP growth this year were the weakness in the country’s external trade as well as higher See “ADB,” A2

While inflation is expected to ease, the full-year average is still likely to exceed the projection in the Update. The inflation forecast for 2018 is, therefore, revised up from 5 percent to 5.3 percent. The recent buildup in inflationary pressure should moderate next year, with inflation still projected at 4 percent, as in the Update.”—ADB

Makati govt, consortium ink MOU on $3.7-B subway By Claudeth Mocon-Ciriaco Correspondent

HE Makati city government has entered into a memorandum of understanding (MOU) with a consortium to pave the way of the ambitious Makati Subway Project expected to be completed by 2023. Lawyer Michael Camiña, city legal officer and spokesman, said the signing of the MOU indicated the start of the $3.7-billion project with the Philippine Infradev Holdings Inc., formerly IRC Properties Inc.

“The PPP project has been awarded but not fully finalized. That is why we have this MOU signing so that the parties can initiate the preparatory acts to enable them to find out all that will be needed for the final execution of the contract, “ Camiña told reporters in an interview right after the signing of the MOU and the ceremonial drilling of the Makati Subway Project in front of the old City Hall building. Makati Mayor Abigail Binay led the ceremonial drilling that was attended by former Vice President Jejomar Binay, city officials and representatives

of the city’s private-sector partners, signaling the start of preparatory works for the project. Prior to the ceremonial drilling, the mayor unveiled a scale model of the Makati Subway at the ground floor of Makati City Hall I (main building). Binay expressed her full commitment to the completion by 2023 of the project, which she considered a “very valuable legacy” that will benefit Makatizens for generations to come. “I believe the Makati Subway will be a very valuable legacy, and I am fully committed to its timely completion

and operation. It will make a lasting positive impact on the lives of our residents, and contribute significantly to the city’s sustainable development and economic growth,” she said. The mayor said the intra-city subway system is expected to create around 6,000 new jobs during its construction and when it starts operations in about five years. With an efficient transport system in place, there will be more jobs and business opportunities created, she added. See “Subway,” A2

Flat glass. . . Continued from A1

NORTHEAST MONSOON AFFECTING LUZON as of 4:00 pm - December 12, 2018

Arranza, said local firms are concerned over the noninclusion of flat glass in the list of products covered by mandatory standard. The DTI made it voluntary on the basis that the product is not life-threatening, he added. “Candidly, I am perplexed at the DTI’s view that flat glass is not a lifethreatening product. In some ways, the DTI might be correct, provided that all flat glass being sold are compliant [with] established product standards,” Arranza said. “But even in highly industrialized nations where mandatory product standards on thousands of products are strictly being observed, deaths and injuries caused by falling glass panels are still happening,” he argued.

www.businessmirror.com.ph

Avian flu outbreak spurs Bulgaria imports ban

HE Philippines has temporarily banned the importation of poultry products from Bulgaria due to reported outbreaks of avian influenza in the country. Agriculture Secretary Emmanuel F. Piñol issued a temporary ban on the importation of domestic and wild birds, including their products, originating from Bulgaria, after Damyan Iliev, a Bulgarian agriculture official, reported to the World Organization for Animal Health (OIE) several outbreaks of avian influenza. The outbreaks of H5N8 Highly Pathogenic Avian Inf luenza (HPAI) virus were found in two provinces of Bulgaria. Birds in these areas were affected by the outbreaks, as confirmed by OIE reference laboratory for avian influenza and Newcastle disease. Wit h t his, Piñol found it

necessary to prevent the entry of poultry products from Bulgaria so as to spare the Philippines of possible HPAI virus. He added this is to protect the health of the local poultry population. Under Memorandum Order 37, Piñol banned the importation of domestic and wild birds and their products, including poultry meat, day-old chicks, eggs and semen, from Bulgaria. He also ordered the immediate suspension of the processing, evaluation of the application and issuance of sanitary and phytosanitary import clearance to the listed commodities. The memorandum mandated the stoppage and confiscation of all shipments of Bulgarian poultry products into the country to be conducted by all agriculture veterinary quarantine officers and inspectors at all major ports. Elijah Felice E. Rosales

FILIPINOS AMONG THE LEAST GENEROUS IN S.E. ASIA–POLL

ILIPINOS are among the least generous people in Southeast Asia, with only a few donating money to a charity and volunteering their time to an organization, according to a global Gallup poll involving 146 countries. Based on Gallup’s The World’s Most Generous Countries Index, the Philippines had a score of only 28 while other Southeast Asian countries like Indonesia, which topped the rankings, scored 59. “The report also sheds light on how generous the whole world is. With all the reports about crime, war and terrorism served up daily in the media, it may surprise you to find out how many people are actively working to make the world a better place,” Gallup Global Managing Partner Jon Clifton said. “Almost 1 billion people reported volunteering their time to an organization in the past month, nearly 1.4 billion said they donated money to a charity and more than 2 billion reported helping a stranger in need,” he added. Gallup asked adults in 146 countries whether they have donated money to a charity, volunteered their time to an organization, and helped a stranger or someone they didn’t know who needed help. It compiled the “positive”responses to these three questions into a Civic Engagement Index score for each country. The higher the score, the higher

the proportion of the population that is “civically engaged.” The index score for the world overall in 2017 is 30 out of a possible 100. Gallup said country scores ranged widely, from a high of 59 in Indonesia and Australia to a low of 15 in Yemen. In Asean, Indonesia and Singapore had the highest Civic Engagement scores. However, Gallup noted that Civic Engagement scores were not only high in rich countries but in poor and developing countries. Myanmar, for one, topped the global rankings when it came to donating to charity, while Libya topped the rankings in terms of helping strangers who needed help. “Regardless of who you think are the most generous countries in the world, this report suggests one important thing: You don’t need to be rich to give back. Some countries where people have far less to give are among the most generous,” Clifton said. Gallup said the results were based on telephone and face-to-face interviews with approximately 1,000 adults per country, aged 15 and older, conducted throughout 2017 in 146 countries. For results based on the total sample of national adults, the margin of sampling error ranges from ±2 percentage points to ±5.4 percentage points at the 95 percent confidence level. All reported margins of sampling error include computed design effects for weighting. Cai U. Ordinario

Obligatory tests

Economic team will pitch for special session for budget

UNDER the DAO, flat glass manufacturers are obliged to test specific number of samples of their products depending on volume. For up to 20,000 metric tons (MT), five units of flat glass will be tested, and the whole set shall be rejected if two units fail. For up to 40,000 MT, eight units will be reviewed, and the entire volume shall be rejected if two fail. Sampling lots shall be randomly selected, the DAO read. If the shipment, lot or batch is rejected, the manufacturer or importer shall, at its own expense, destroy the substandard product or return it to its country of origin. It should be done in the presence of a DTI authorized representative and other relevant government agencies. The DTI’s BPS is awaiting comments, suggestions and inputs from stakeholders regarding the provisions of the draft DAO. The government will begin finalizing it by December 21.

The plenary has also approved Andaya’s motion to issue a subpoena against a certain Consolacion T. Leoncio, sole proprietor of CT Leoncio Trading and Construction. During Question Hour, Minority Leader Danilo E. Suarez also asked Diokno about P2.8-billion projects in Casiguran and Sorsogon, where his daughter’s in-laws are elected officials. Suarez revealed that Diokno’s daughter is married to the son of Sorsogon Vice Gov. Ester Hamor and Casiguran Mayor Edwin Hamor, who are both running in the 2019 elections. However, Diokno told Suarez he’s not aware of the project, and as family, they “do not talk about projects.” He said none of his family members, as well as friends, are involved whenever he makes decisions as budget secretary. Moreover, Diokno also told

Continued from A1

reporters on Wednesday that it is not part of the DBM’s job to implement the projects and choose the contractors. “We do not talk to the contractors. We talk to the department heads. That is our clientele, the department heads. And so we do not implement projects at this level,” he said. Despite these issues surrounding the proposed 2019 budget, Malacañang also said on Wednesday it still maintains full trust and confidence in Diokno. “Mr. Diokno is known to be the ‘Mr. No’. Meaning, he is a man of integrity. So when he says he’s not involved, I believe him. Unless you show me, as a lawyer, competent evidence to the contrary; the presumption is he is a man of competence and integrity,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a briefing.

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, December 13, 2018

Ayala Group corners a fifth of ₧1-T PHL bond issuances

By VG Cabuag

@villygc

HE Ayala Group, Asia’s oldest conglomerate, has cornered a fifth of the P1-trillion bond market.

sector to enhance the enabling env ironment,” Securities and Exchange Commissioner Ephyro Luis Amatong said. The Ayala Group has been a pioneer in the issuer community since the exchange started in 2008, when Ayala Corp. and Ayala Land Inc. listed a combined total of P10 billion. Since then, the g roup has tapped the debt market to support the aggressive growth strategy of its various businesses in real estate, banking, telecommunications, water and power. Over the last five years alone, Ayala has invested a cumulative

group-wide total of P748.3 billion in capital expenditures to fund investments largely in Ayala Land and Globe Telecom, including new ventures in energy, industrial technologies, infrastructure, health care and education. “Ayala has been a beneficiary of the country’s significant economic growth. This has served as a catalyst for us to unlock many opportunities and push us to develop new ideas to incubate new businesses, and to explore prospects for disruptive innovation,” Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala said.

The company said it has already listed some P203.13 billion worth of debt paper at the Philippine Dealing and Exchange Corp. (PDEx) since it started a decade ago. Last week Bank of the Philippine Islands listed P25 billion, the largest single bond issue ever

to be listed in PDEx, bringing the total local peso bond market to the trillion-peso level. “ Today’s trillion-peso bond market is the result of many factors—a vibrant economy, an innovative private sector and a commitment by the government

DOF: Daiwa Securities ready for next samurai bond release

SC overturns Mandaluyong RTC order stopping LTFRB from apprehending Angkas bikers

HE Department of Finance (DOF) said Daiwa Securities Group (Daiwa) has expressed readiness for the next issuance of samurai bonds by the Republic of the Philippines, adding the country should issue the yen-denominated security on an annual basis. In a meeting with Finance Secretary Carlos G. Dominguez III, top executives of Daiwa led by its Chairman Takashi Hibino said the bank “could be of help in terms of financing” to further accelerate infrastructure investments in in the second half of President Duterte’s administration. Hibino told the finance chief that Daiwa “is ready” for the Philippines’s next samurai bond float and advised that the government should issue such bonds at least once a year— even in just modest amounts—to reach more investors. Daiwa earlier extended its offer in terms of providing funding for the Duterte administration’s “Build, Build, Build” (BBB) program and continue its support for the Philippines’s future yen-denominated bond issuances in the Japanese market. Dominguez, in turn, thanked Daiwa for its “invaluable assistance that led to the Philippines’s successful return to the Japanese market in August with its samurai bonds after an eight-year absence.” The Philippines’s multi-tranche issue was the largest samurai transaction in Asia at ¥154.2 billion. The three-year tranche was priced 25 basis points above the benchmark, the five year at 35 basis points and the 10-year tranche at 60 basis points. It was the first time in almost 20 years the government issued samurai bonds on a stand-alone basis. Dominguez told the Daiwa executives that the Philippine government was looking forward to its partnership with Daiwa in future offshore transactions. “It is more important for us now to continue stimulating the economy by doing the infrastructure program. That is our countercyclical approach. We will be tapping the international markets for bond financing so it’s a perfect fit and we hope your organization can continue supporting us,” Dominguez said. He said the Duterte administration would further scale up its infrastructure program to continue stimulating the economy amid global uncertainties triggered by the escalating United States-China trade tensions and the Federal Reserve System’s move to normalize monetary policy through successive interest-rate increases. Rea Cu

By Joel R. San Juan @jrsanjuan1573

& Lorenz S. Marasigan @lorenzmarasigan

HE Supreme Court has issued a resolution giving the Land Transportation Franchising and Regulatory Board (LTFRB) the go-signal to launch a crackdown on Angkas bikers anew, a move seen to affect the livelihood of over 25,000 biker-partners in the platform. In a December 5 resolution, the High Court issued a temporary restraining order against an regional trial court’s decision over the legitimacy of the operations of Angkas. The Mandaluyong Regional Trial Court’s (RTC) decision stopped the transport regulator from apprehending bikers and from interfering with the company’s operations. The High Court issued the resolution based on the petition filed by the LTFRB and the Department of Transportation (DOTr) seeking the issuance of an injunction against the order of the Madaluyong RTC. Based on the resolution, the court issued the stay order as it found Angkas “a transportation provider and its accredited drivers are common carriers engaged in rendering public service, and as such, is subject to regulation by petitioners.”

Angkas operator DBDOYC Inc. has 10 days to submit its comment on the petition filed by the transport regulators. Its operations were previously suspended by the transport regulator in November 2017 on the grounds that Philippine laws do not allow twowheeled vehicles to transport fare-paying passengers. As a consequence, the company shifted its business to small parcel delivery instead of transporting commuters. However, the Mandaluyong court granted its petition for the issuance of a writ of preliminary injunction against the LTFRB order, allowing it to operate anew. The transportation department welcomed the High Court’s decision, “as it is in line with our efforts to prioritize the safety and security of the riding public through proper implementation of the law.” “Our position remains the same — motorcycles registered in the service are not authorized to conduct business and offer public transport under Republic Act 4136. For them to be allowed, the law has to be amended by Congress,” the department said in a statement. It also cited safety as its main driver for stopping the operations of Angkas. “Additionally, the safety of patrons and com-

muters are also put at risk, as motorcycles are not considered a safe mode of public transport,” it said. David Medrana, who heads the operations of Angkas, said this is “sad” news that “comes at a time when hundreds of thousands of commuters need the Angkas service to beat the worsening holiday traffic.” He added the stay order “also puts the livelihood of 25,000 biker-partners at risk a few days before Christmas, when their families need it most.” Medrana also noted that Angkas is a safe mode of transportation, boasting a 99.997-percent safety record, which he said is “a potential model for responsible traffic safety nationwide.” “We will continue to fight to serve commuters in a safe and efficient manner, as well as legitimizing our riders. We are hopeful the Supreme Court will eventually rule in favor of the Filipino riding public,” he said. The Philippines still lacks regulations on twowheel vehicles as public transport modes, unlike neighboring countries Indonesia and Vietnam, where motorbikes are the preferred transport systems as they beat the heavy traffic on main and secondary roads. The LTFRB was expected to issue a resolution to implement the stay order, but its officials were not available to confirm this as of press time.

Sun Life sees positive growth for local insurance industry By Rea Cu

@ReaCuBM

UN Life Financial-Philippines (Sun Life) has expressed optimism that the local insurance industry will experience positive growth in the coming years, on the back of an increase in financial literacy efforts by the sector. Sun Life Country Head and CEO Benedict C. Sison told financial reporters he is positive that a growth in premium income is expected starting 2019 not only for the life-insurance sector, but for the whole domestic insurance industry. This is due to the Philippine economy’s sustaining its growth, as well as financial-literacy programs promoted by the industry. “We are very bullish about 2019 and 2020. Our outlook for the next three years is very bullish, especially 2019. The year 2018 was very volatile yet the life insurance [sector] grew. It’s not only related to the growing economic environment, but also to the growing financial literacy when you reach out to more Filipinos,” Sison said at the sidelines of the Sun Life Sinag Awards on Wednesday at the Bonifacio Global City. He said there are still opportunities to increase the country’s insurance penetration which means a lot of Filipinos can still be covered by some form of insurance. For 2017, the insurance penetration rate of the country settled at 1.3 percent, lower compared to the rates registered by our neighboring countries, with Indonesia at 2 percent and Malaysia at 3.6 percent, among others. “Our penetration rate is still

NEA lauds Energy Virtual One-Stop Shop bill passage By Lenie Lectura

@llectura

SHIFTING TO LOW GEAR A refueling attendant refills a BusinessMirror media vehicle at a Petron gas station in Santiago City, Isabela. After eight

consecutive weeks of price rollbacks, prices of oil products suddenly shifted to low gear as the world’s top oil producers reduced production. CEASAR M. PERANTE

low at only 1.3 percent. Indonesia’s penetration rate is close to 2 percent and Malaysia is at 3.6 percent. We are working as an industry to increase the penetration rate. I’m very positive and hopeful that we’ll get there,” he added. He said the Philippines can hit at least a 2- percent insurance penetration rate sooner than five years, since most insurance companies—whether life or nonlife—are increasing their financial-literacy programs. In terms of meeting its goal of having 5 million clients by 2020, Sison said the company is on track to meeting that specific goal as its client base is already at 3.8 million at the moment. “We are on track. In fact, we are ahead of the plan number, but we are still saying we will achieve it by the end of 2020. We are comfortable. And financial literacy is one key reason why Filipinos are becoming more aware of the benefits of being insured and investing. Their awareness has grown,” he added. Earlier, the Insurance Commission reported that total premium income of the whole insurance industry from January to September this year grew by 18 percent, reaching P218.91 billion, with all sectors posting positive growth despite volatilities. Insurance Commissioner Dennis B. Funa said the lifeinsurance sector posted premiums of P174.15 billion, which accounts for 79.55 percent of the premiums collected by the industry. This is 20.4 percent higher than the P144.63 billion recorded in 2017.

HE National Electrification Administration (NEA) on Wednesday welcomed the passage of the “Energy Virtual One-Stop Shop” bill at the bicameral conference committee level. “This measure comes at a time when energy supply is at its highest demand historically due to increased economic activity in the rural areas and the government’s hastened capital outlay expenditure primarily for public infrastructure construction,” NEA Administrator Edgardo Masongsong said. “Aside from further satisfying the accelerated power demands being distributed by electric cooperatives in the provinces, when enacted into law, this measure will insulate the country from unexpected shocks from the dynamics of the global market and ensure energy security, especially in developing regions of the country,” the NEA chief added.

Recently, the Senate Committee on Energy and the House Committee on Energy agreed to adopt Senate Bill 1439, which seeks to streamline the permitting process of power generation, transmission and distribution projects through the establishment of an online system called the Energy Virtual One-Stop Shop or Evoss. Once enacted into law, Evoss is seen to accelerate the permitting process for energy projects and to cut red tape in the government. Under the bill, Evoss will be managed by the Department of Energy, while its operations will be determined and monitored by a Steering Committee. Senate Committee on Energy Chairman Sen. Sherwin T. Gatchalian is optimistic the bill will “drive down electricity costs and provide significant savings to power consumers by modernizing and streamlining the permitting process behind power infrastructure projects.”

FastCat obtains ₧1.8-billion PNB loan for fleet expansion

RCHIPELAGO Philippines Ferries Corp. (APFC), the company behind ferry operator FastCat, has signed a P1.8billion loan agreement with the Philippine National Bank (PNB) to bankroll its fleet expansion. Specifically, the amount will be used to finance the construction

of five new ferries, part of the company’s modernization program. APFC aims to expand its fleet to 30 vessels by 2020. “With the construction and funding of these new vessels, FastCat is moving a step forward in modernizing the industry. The addition of these new vessels will

open up new routes, which will connect travelers and tourists to more diverse destinations in the country,” APFC President Christopher S. Pastrana said on Wednesday. Currently, the company operates about a dozen ferry routes in Luzon, the Visayas and Mindanao. He noted the newly designed

ferries have incorporated enhanced features for added safety, power efficiency and comfort. Additionally, it uses solar power and has special amenities that are user-friendly to the elderly and persons with disabilities. “It will boost trade among neighboring islands and sup-

port the local economy. Farmers, fishermen, craftsmen and various producers will be able to transport their goods to far-flung places faster and at a lower cost,” Pastrana said. FastCat aims to become a leading player in providing comprehensive travel solutions. Lorenz S. Marasigan

Companies BusinessMirror

Thursday, December 13, 2018

PSE STOCK QUOTATIONS

December 12, 2018

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

ASIA UNITED 59 59.1 59 59 58.8 59 19470 1148378 BDO UNIBANK 126.7 126.8 130.1 131.2 126.5 126.7 2633840 336679701 BANK PH ISLANDS 94.15 94.2 93.8 94.5 93.8 94.2 2539900 239340729 CHINABANK 27 27.35 27.35 27.65 27 27 257300 7010550 EAST WEST BANK 11.68 11.7 11.68 11.7 11.54 11.68 62000 720590 METROBANK 80.2 80.25 79.8 80.5 79.75 80.2 6988640 560132574.5 PB BANK 11.3 12 11.48 11.72 11.48 11.72 102600 1194776 PHIL NATL BANK 42.25 42.3 42.5 42.5 42.15 42.3 607500 25688065 PSBANK 70.9 72.2 72.55 73 72 72.2 3340 241411.5 PHILTRUST 108.3 122 118.5 122 108.1 122 1620 196405 RCBC 28.3 28.35 28.35 28.35 28.2 28.3 197400 5569190 SECURITY BANK 161.8 162 162.7 162.7 160.3 162 151560 24538965 UNION BANK 65 65.05 65 65.35 64.95 65 30070 1955066.5 BRIGHT KINDLE 1.5 1.59 1.54 1.6 1.54 1.6 180000 281190 BDO LEASING 2.18 2.19 2.16 2.18 2.16 2.18 91000 196790 COL FINANCIAL 15.52 15.9 15.8 15.9 15.52 15.52 160600 2552350 FERRONOUX HLDG 3.97 4.05 3.86 4.2 3.85 4.05 106000 429080 MEDCO HLDG 0.435 0.475 0.43 0.435 0.43 0.435 200000 86550 NTL REINSURANCE 0.93 0.96 0.92 0.96 0.91 0.96 884000 821510 PHIL STOCK EXCH 178 179.1 176 178 176 178 820 145700 SUN LIFE 1810 1848 1811 1811 1810 1810 160 289605 INDUSTRIAL ALSONS CONS 1.23 1.27 1.24 1.27 1.23 1.23 1249000 1542390 ABOITIZ POWER 32.5 32.75 32.65 33 32.2 32.5 789100 25678720 BASIC ENERGY 0.25 0.255 0.25 0.255 0.25 0.255 1030000 258550 FIRST GEN 19.26 19.3 18.64 19.3 18.64 19.3 4510300 86298426 FIRST PHIL HLDG 64.8 64.85 64.8 65 64.65 64.85 210360 13630314 PHIL H2O 5.54 5.55 5.5 5.6 5.39 5.54 498200 2731394 MERALCO 382.4 383 377 382.4 373 382.4 192640 73196030 MANILA WATER 27 27.1 26.8 27.25 26.8 27 1250000 33749490 PETRON 8.12 8.17 8.23 8.25 8.1 8.17 1804700 14708266 PETROENERGY 3.98 3.99 3.91 3.98 3.87 3.98 19000 74050 PHINMA ENERGY 0.98 1 0.91 1.03 0.91 0.98 35329000 34719310 PHX PETROLEUM 10.86 10.98 11 11 10.82 10.82 7900 86120 PILIPINAS SHELL 47.6 47.8 47.7 47.8 47.6 47.6 134900 6437915 SPC POWER 5.21 5.26 5.21 5.26 5.2 5.26 163400 853084 VIVANT 16.5 17 17 17 17 17 500 8500 AGRINURTURE 16.6 17.08 17.26 17.28 16.3 17.08 675700 11471736 CENTURY FOOD 14.9 14.94 14.86 15.3 14.84 14.9 593200 8814402 DEL MONTE 6.5 6.7 6.75 6.75 6.75 6.75 2200 14850 DNL INDUS 10.28 10.3 10.18 10.34 10.18 10.3 1304400 13,429,546( EMPERADOR 7.02 7.03 7.05 7.05 6.97 7.03 10649800 74758201 SMC FOODANDBEV 82.5 82.55 83.1 83.9 82.5 82.5 398720 33,013,060.5( ALLIANCE SELECT 1.05 1.06 1.05 1.08 1.05 1.06 6319000 6706530 GINEBRA 24.05 24.5 24.6 24.6 24.05 24.05 710600 17089985 JOLLIBEE 293.8 294 296 296.6 292 294 1701840 499699802 MAXS GROUP 10.22 10.24 10.02 10.26 10.02 10.24 116700 1191198 MG HLDG 0.166 0.175 0.177 0.177 0.177 0.177 10000 1770 PEPSI COLA 1.32 1.35 1.39 1.39 1.32 1.32 45000 61900 SHAKEYS PIZZA 10.32 10.36 10.4 10.5 10.36 10.36 22300 231520 ROXAS AND CO 1.89 1.9 1.85 1.89 1.8 1.89 292000 545550 RFM CORP 4.65 4.75 4.8 4.8 4.7 4.8 19000 90200 UNIV ROBINA 128.3 128.5 129 129.9 128 128.5 2121690 273069378 VITARICH 1.75 1.76 1.69 1.76 1.69 1.76 7118000 12349480 VICTORIAS 2.32 2.5 2.5 2.5 2.5 2.5 10000 25000 CEMEX HLDG 1.63 1.64 1.66 1.68 1.61 1.63 3792000 6213230 DAVINCI CAPITAL 6.45 6.55 6.7 6.7 6.4 6.45 82300 533158 EAGLE CEMENT 14.68 14.7 14.7 14.7 14.6 14.68 317500 4656402 EEI CORP 8.09 8.12 8.06 8.15 8.06 8.12 54700 443032 HOLCIM 6 6.1 6.05 6.1 6 6.1 60000 362535 MEGAWIDE 18.26 18.3 18.38 18.48 18.08 18.3 11086200 203108566 PHINMA 8.25 8.29 8.25 8.29 8.25 8.29 6300 52015 VULCAN INDL 1.78 1.79 1.86 1.88 1.77 1.78 11801000 21399470 CROWN ASIA 1.67 1.76 1.76 1.76 1.75 1.76 79000 138750 LMG CHEMICALS 4.2 4.38 4.29 4.3 4.29 4.3 70000 300500 PRYCE CORP 5.22 5.51 5.51 5.51 5.22 5.22 13200 68962 CONCEPCION 37 37.5 37 37 37 37 1000 37000 GREENERGY 2.32 2.33 2.16 2.33 2.13 2.33 20477000 46016730 INTEGRATED MICR 9.11 9.21 8.92 9.3 8.92 9.21 1188000 10829988 IONICS 1.7 1.73 1.73 1.73 1.7 1.73 61000 103940 PANASONIC 5.88 6 5.89 5.89 5.88 5.88 8500 49994 SFA SEMICON 1.34 1.42 1.47 1.47 1.34 1.42 90000 122620 CIRTEK HLDG 31.05 31.7 30.95 31.95 30.95 31.65 71000 2209100 HOLDING & FRIMS ABACORE CAPITAL 0.63 0.64 0.6 0.64 0.59 0.64 27237000 16838260 ASIABEST GROUP 25 25.05 26.5 26.8 24.75 25 213200 5358385 AYALA CORP 925 927 936 937 922.5 925 173100 160264885 ABOITIZ EQUITY 52.6 53.9 51.9 53.9 51 53.9 297860 15946652.5 ALLIANCE GLOBAL 11.88 11.92 11.82 12.02 11.8 11.9 17351700 206369006 ANSCOR 6.5 6.52 6.52 6.52 6.52 6.52 59800 389896 ANGLO PHIL HLDG 0.82 0.84 0.84 0.84 0.81 0.82 23000 18860 ATN HLDG A 1.41 1.43 1.35 1.43 1.35 1.43 12419000 17512590 ATN HLDG B 1.41 1.43 1.35 1.43 1.35 1.43 3493000 4912350 COSCO CAPITAL 7.1 7.4 7.2 7.4 7.01 7.4 996200 7186508 DMCI HLDG 12.54 12.78 12.5 12.86 12.44 12.78 4113000 51723966 FILINVEST DEV 9.82 9.99 9.9 10.02 9.82 9.99 24372800 241322928 FJ PRINCE A 4.51 5.34 5.09 5.1 5.09 5.1 2900 14771 FORUM PACIFIC 0.203 0.23 0.202 0.202 0.202 0.202 20000 4040 GT CAPITAL 940 942 930 940 926 940 91150 85557060 JG SUMMIT 50.25 52.4 50.7 52.4 50 52.4 981370 50543626.5 LODESTAR 0.55 0.56 0.57 0.57 0.54 0.56 52000 28490 LOPEZ HLDG 4.12 4.18 4.07 4.18 4.06 4.18 835000 3423970 LT GROUP 16.62 16.64 16.7 16.9 16.58 16.64 3030600 50852150 MABUHAY HLDG 0.61 0.62 0.65 0.66 0.59 0.62 1899000 1162940 METRO PAC INV 4.76 4.77 4.79 4.83 4.73 4.77 17298000 82541380 PACIFICA 0.036 0.038 0.037 0.037 0.036 0.036 20600000 742200 PRIME ORION 2.31 2.36 2.37 2.37 2.3 2.36 701000 1641780 REPUBLIC GLASS 2.6 2.65 2.6 2.6 2.6 2.6 80000 208000 SOLID GROUP 1.29 1.3 1.27 1.29 1.27 1.29 42000 53490 SYNERGY GRID 450 507.5 457 457 447.2 447.4 100 45022 SM INVESTMENTS 930 945 921 945 915 945 282050 261742730 SAN MIGUEL CORP 154.3 154.5 157 158.3 154.2 154.5 739490 114738443 TOP FRONTIER 273.2 280 280 280 280 280 120700 33796000 WELLEX INDUS 0.247 0.25 0.25 0.255 0.246 0.247 2400000 594890 PROPERTY ARTHALAND CORP 0.56 0.57 0.57 0.58 0.55 0.57 1555000 873320 ANCHOR LAND 9.72 10.54 10.4 10.4 10.4 10.4 1600 16640 AYALA LAND 41.75 41.8 41.9 42.2 41.35 41.8 14689900 611771375 ARANETA PROP 1.71 1.82 1.9 1.9 1.75 1.87 32000 60020 BELLE CORP 2.35 2.36 2.49 2.49 2.35 2.35 3395000 8079390 A BROWN 0.76 0.77 0.76 0.77 0.75 0.77 637000 480380 CITYLAND DEVT 0.85 0.87 0.85 0.88 0.85 0.88 213000 184410 CROWN EQUITIES 0.245 0.249 0.245 0.25 0.245 0.249 3550000 872950 CEBU HLDG 5.91 6.08 5.92 6 5.9 6 261800 1570272 CEB LANDMASTERS 3.94 4 4 4.01 3.94 4 219000 874030 CENTURY PROP 0.4 0.41 0.4 0.41 0.4 0.405 680000 274100 CYBER BAY 0.36 0.37 0.33 0.37 0.33 0.36 4320000 1542650 DOUBLEDRAGON 17.52 17.56 17.56 17.72 17.52 17.56 157900 2778038 DM WENCESLAO 7.97 8 8 8.07 8 8 91200 731950 EMPIRE EAST 0.475 0.48 0.49 0.49 0.48 0.48 400000 194000 EVER GOTESCO 0.11 0.115 0.105 0.115 0.105 0.115 60000 6400 FILINVEST LAND 1.42 1.43 1.45 1.46 1.42 1.42 19046000 27308140 GLOBAL ESTATE 1.05 1.06 1.07 1.07 1.04 1.05 2220000 2335920 8990 HLDG 7.65 7.74 7.74 7.74 7.73 7.74 107000 827973 PHIL INFRADEV 2.48 2.49 2.44 2.56 2.4 2.48 43368000 108296160 CITY AND LAND 0.86 0.91 0.85 0.85 0.85 0.85 100000 85000 MEGAWORLD 4.77 4.8 4.78 4.82 4.76 4.8 15454000 74028770 MRC ALLIED 0.405 0.41 0.4 0.41 0.395 0.41 19480000 7850800 PRIMEX CORP 3.54 3.55 3.6 3.6 3.54 3.55 2290000 8162790 ROBINSONS LAND 20.65 20.95 20.95 21.7 20.65 20.65 2022900 42295795 PHIL REALTY 0.375 0.385 0.38 0.38 0.375 0.375 510000 192750 ROCKWELL 1.95 2.01 2.01 2.01 1.95 2.01 136000 266530 SHANG PROP 3.08 3.09 3.08 3.12 3.08 3.09 60000 185860 STA LUCIA LAND 1.24 1.26 1.26 1.26 1.22 1.26 818000 1024680 SM PRIME HLDG 35.6 35.7 35.5 35.8 35.15 35.7 33119000 1179837475 STARMALLS 5.24 5.34 5.4 5.4 5.24 5.34 270800 1434884 SUNTRUST HOME 0.7 0.74 0.73 0.73 0.72 0.72 300000 216180 PTFC REDEV CORP 36 37.9 37.85 37.9 36 36 5400 202330 VISTA LAND 5.19 5.2 5.18 5.2 5.18 5.2 3241300 16837092 SERVICES ABS CBN 19.58 19.6 19.32 19.66 19.32 19.6 41400 810776 GMA NETWORK 5.27 5.3 5.28 5.3 5.27 5.3 38500 203335 MLA BRDCASTING 16.26 17.78 17.98 17.98 17.5 17.78 800 14218 GLOBE TELECOM 1954 1970 2012 2046 1948 1970 54435 107646170 PLDT 1140 1145 1140 1154 1139 1140 63570 72602425 APOLLO GLOBAL 0.039 0.04 0.04 0.041 0.039 0.039 1500000 59800 IMPERIAL 1.86 1.97 1.9 1.9 1.8 1.9 48000 91100 ISLAND INFO 0.113 0.114 0.11 0.114 0.11 0.113 5610000 631010 ISM COMM 5.72 5.73 6.3 6.42 5.7 5.72 33437800 201856990 NOW CORP 3.25 3.28 3.41 3.41 3.2 3.25 2461000 8089540 TRANSPACIFIC BR 0.405 0.41 0.42 0.42 0.405 0.41 11330000 4619950 PHILWEB 3.02 3.04 3.08 3.09 3.02 3.02 477000 1449700 2GO GROUP 16.64 - 11.26 16.64 11.26 16.64 3087200 45514392 ASIAN TERMINALS 13 13.46 13 13 13 13 1800 23400 CEBU AIR 73 73.15 72.85 73.75 72.85 73.15 86590 6331546.5 CHELSEA 6.61 6.65 6.77 6.83 6.6 6.61 2203100 14772122 INTL CONTAINER 94.3 95.05 94.4 95.9 93.9 95.05 9263370 882091869 LBC EXPRESS 13.92 14.6 14.4 14.6 14.4 14.6 9500 137320 LORENZO SHIPPNG 0.74 0.77 0.75 0.75 0.74 0.74 21000 15710 MACROASIA 14.12 14.2 14.2 14.38 14.12 14.2 108500 1542660 METROALLIANCE A 2.07 2.14 2.15 2.2 2.07 2.14 668000 1410430 METROALLIANCE B 2.12 2.3 2.34 2.34 2.34 2.34 1000 2340 PAL HLDG 8.2 8.25 8.25 8.25 8.25 8.25 1600 13200 HARBOR STAR 3.04 3.05 3.05 3.07 2.99 3.05 936000 2842090 ACESITE HOTEL 1.46 1.55 1.56 1.58 1.46 1.55 3595000 5674360 WATERFRONT 0.65 0.66 0.64 0.66 0.63 0.66 1394000 896590 STI HLDG 0.63 0.64 0.63 0.64 0.6 0.63 16447000 10130930 BERJAYA 3.04 3.05 3.01 3.08 2.95 3.04 8403000 25267190 BLOOMBERRY 8.02 8.05 8.02 8.06 8 8.02 2899800 23244077 PACIFIC ONLINE 9.9 10.32 10 10 10 10 200 2000 LEISURE AND RES 3.34 3.39 3.41 3.43 3.3 3.34 809000 2691330 MANILA JOCKEY 5.25 5.47 5.25 5.5 5.25 5.47 102800 549212 PREMIUM LEISURE 0.82 0.83 0.85 0.85 0.81 0.82 7555000 6276740 TRAVELLERS 5.26 5.28 5.27 5.29 5.24 5.26 522800 2746478 METRO RETAIL 2.2 2.22 2.22 2.27 2.19 2.2 4728000 10435950 PUREGOLD 42.6 42.65 42.6 42.7 42.5 42.65 2032500 86694200 ROBINSONS RTL 75 75.1 75 75.3 74.05 75 157660 11,809,864.5( PHIL SEVEN CORP 113 114.3 114.4 114.4 111.7 113 154090 17561020 SSI GROUP 2.37 2.38 2.44 2.44 2.33 2.38 3189000 7573900 WILCON DEPOT 11.88 11.98 11.82 12.1 11.82 11.88 464800 5544714 APC GROUP 0.41 0.415 0.43 0.43 0.41 0.41 950000 394950 EASYCALL 18.5 18.6 19.48 19.52 18.5 18.5 544100 10281088 GOLDEN BRIA 317 325 314.2 325 314.2 325 1060 344374 IPM HLDG 7.18 7.2 7.2 7.2 7.2 7.2 11000 79200 PAXYS 3.06 3.47 3.35 3.49 3.35 3.49 4000 13680 PRMIERE HORIZON 0.315 0.32 0.315 0.32 0.31 0.32 520000 163650 SBS PHIL CORP 7.15 7.65 7.15 7.65 7.15 7.65 128800 983460 MINING & OIL ATOK 15.02 15.2 15.6 16.6 15 15.02 23300 357010 APEX MINING 1.58 1.61 1.59 1.61 1.57 1.58 3299000 5244510 ABRA MINING 0.0019 0.002 0.0021 0.0021 0.002 0.002 209000000 418200 CENTURY PEAK 1.96 1.97 1.93 1.97 1.93 1.97 574000 1120010 DIZON MINES 7 7.05 7.01 7.02 7 7 800 5606 FERRONICKEL 1.68 1.69 1.69 1.69 1.65 1.69 795000 1331110 GEOGRACE 0.203 0.205 0.205 0.206 0.203 0.203 40000 8170 LEPANTO A 0.102 0.104 0.101 0.104 0.101 0.102 2100000 214340 LEPANTO B 0.101 0.11 0.109 0.11 0.109 0.11 110000 12000 MARCVENTURES 1.11 1.24 1.07 1.27 1.07 1.25 52000 62490 NIHAO 1.08 1.11 1.11 1.13 1.07 1.1 30000 32820 NICKEL ASIA 2.21 2.22 2.16 2.23 2.16 2.21 3641000 8019820 OMICO CORP 0.6 0.62 0.6 0.62 0.6 0.62 62000 38300 ORNTL PENINSULA 0.95 0.96 0.97 0.98 0.93 0.95 724000 688620 PX MINING 2.66 2.67 2.67 2.68 2.66 2.66 1308000 3492560 SEMIRARA MINING 24.45 24.5 24.55 24.7 24.5 24.5 1265500 31058750 UNITED PARAGON 0.0059 0.0063 0.0063 0.0064 0.006 0.0063 9000000 55700 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 113800000 1366100 PHILODRILL 0.012 0.013 0.012 0.012 0.012 0.012 13200000 158400 PHINMA PETRO 3.15 3.27 3.39 3.39 3.15 3.15 94000 297470 PXP ENERGY 15.76 15.78 15.4 16 15.4 15.78 872300 13727456

PREFFERED AC PREF B2 DD PREF GLO PREF P GTCAP PREF A GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3B PCOR PREF 2A PCOR PREF 2B SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2G

476 98.9 475 873 894.5 1 97 102.2 980 964 75.3 76.2 73.95 72.45 74.5

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.54 5.08 1.9

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.44 XURPAS 1.24

110.7

926590 -74401615 7661556.5 -36639704 49552 840 -41400 3384145 10020190 39499800 -9611465.5 610420 972332 -102230 -12817210 35999.9998 23600 38145525 -87110004 196000 -79595330 -5255640 685550 1533592 -399640 -25150 177450 1108548.0002 -97000 -12892250 50310 -33825380 6598950 -19900 -7160 14845905 -82940 65441165 -9871749 5821630 -17754730 -33900 -5963481 -164250 180400 -279280 -455990 23400 -150063.9997 290700 -724421360.5 14600 -1432 30650 -1881630 -204850 4083287 1000 1062 -146840 -1134102 3717890 -18633705 5,236,173.9996) -19932 -189460 952662 41500 -15038 -9750 51830 2408080 27550 -27130655 -1336346

475 98.9 475 870 894.5 1.02 99 103 990 1000 75.9 76.6 74 73 74.5

490 99 475 934.5 894.5 1.02 99 103 990 1000 75.9 76.6 74 73.95 75

475 98.9 475 870 894.5 1.02 98.5 103 990 1000 75.9 76.2 73.95 72.35 74.5

490 99 475 934.5 894.5 1.02 98.5 103 990 1000 75.9 76.2 73.95 73.95 75

11300 1580 2020 1300 40 1000 57590 50 20 60 200 135070 8500 19630 1500

5474800 156362 959500 1143900 35780 1020 5672715 5150 19800 60000 15180 10296150 628825 1435308.5 111805

4925 38150 -

18.6 5.22

18.7 5.22

18.5 5.22

18.54 5.22

16300 128100

303942 668682

-285442 658242

1.95

1.9

627000

1210240

4.58 1.25

4.4 1.23

4.6 1.27

4.3 1.23

4.58 1.24

554000 1772000

2471760 2214720

-57010 -184500

EXHANGE TRADE FUNDS FIRST METRO ETF

-2703030 47486126 2610125.5 26761810 26499305 -11587233 -19103540 -3256290 -8500 -1297158 61276 6,593,507.9996) -19487661 3,272,550.5004) 32860 -105860398 -153664 -16559.9999 -147356 52234688 202070 -1780900 -2628056 -80635.0001 49610 11076640 -105550 26300 -15660 37000 28110 1485998 237400

490 99 480 934.5 925 1.02 98.5 106.5 1000 - 75.9 76.6 74 73.95 75

WARRANTS LR WARRANT

351402 -82368679 -5791190.5 -627575 -4324 69020503.5 2344220 93265 1706025 -1675504.5 -114800 3520 -181005

111.3

111

111.5

110.5

111.3

3600

400279

Editor: Efleda P. Campos

Crown Asia Chem launches ₧100-M share buyback plan

By VG Cabuag @villygc

ROWN Asia Chemicals Corp. on Wednesday said its board approved a P100-million share buyback program, a move meant to increase its share value.

Company chairman Walter H. Villanueva expressed confidence on the company’s bright prospects and opportunities for growth. The undervalued shares, despite their consistent track record, is a good opportunity to enhance shareholder values, he said. “We stand with progressive initiative of the government in the development of major infrastructures for economic growth,” Villanueva said.

Crown Asia will supply to the New Passenger Terminal of the Clark International Airport. The land development phase will start soon. Other new major projects are the Cavitex Coastal C-5 Link (CTBEx or the Cavite-TagaytayBatangas Expressway) and the Harbour Link Segment 10, which stretches from Valenzuela City to the Port of Manila. It also supplies Calax with Crown HDPE pipes on top of its PVC pipes.

MRC Allied to supply power to Mindanao mall By Lenie Lectura

@llectura

RC Allied Inc. (MRC) will supply power to a mall in Mindanao, it said on Wednesday. A memorandum of agreement (MOA) for the development, design, construction, and installation of at least 1.1-megawatt (MW) Solar Photovoltaic (PV) rooftop system was signed. MRC

did not identify the mall. Under the MOA, the MRC will be the project developer and owner of the solar facility while a private entity, owning and operating the mall, will be the power off-taker. The total investment for the solar power project is estimated at P67.4 million. The MOA will become effective upon the issuance of the acceptance certificate by the power off-taker to MRC

Philab deals with US, Japan firms fail to push through

HILAB Holdings Corp., a company that supplies healthtesting kits, on Wednesday said its deal with US-based Veritas Genetics International Ltd. and Japan’s Yamazaki Financial Ltd. did not push through. Early this year, Philab signed a term sheet with Veritas involving a $10-million deal through a convertible note. The company, however, said it is still pursuing a $3-million investment in Veritas. It did not give a time frame for its new deal. Its deal with Yamazaki involves

a P500-million subscription agreement. Yamazaki was supposed to subscribe to an additional 200 million common shares out of the unissued authorized capital stock of Philab at a price of P2.50 per share. Both deals were disclosed in February this year. Veritas is a US-based leading global genomics company that specializes in cutting- edge genetic testing and interpretation. Since 2014, it has been recognized as a top health-care industry leader in the United States.

Seaoil lauded in Asean Business Awards

2018 ASEAN Business Awards (ABA) Chairman and Prof. Annie Koh (from left), Seaoil CEO Glenn Yu, Malaysian Prime Minister Mahathir bin Mohamad, OCBC Singapore Bank’s Linus Goh and Prudential Singapore’s Wilf Blackburn during the ABA awarding ceremonies in Singapore.

EAOIL Philippines was cited by the Asean Business Awards (ABA) for outstanding performance and presence in the Asean Economic Community Priority Integration Sector-Energy. Seaoil Philippines CEO Glenn Yu recently accepted the award during ABA awarding ceremonies in Singapore. Seaoil fulfilled all of the awards’ eligibility requirements, as well as distinguishing itself for its integration and connectivity among Asean businesses. “Backed by 40 years of excellence as one of the largest Filipino companies providing high-quality petroleum products, Seaoil Philippines definitely deserves the recognition from the Asean Business Awards. We congratulate the longtime supporter and advocacy partner of Go Negosyo, Glenn Yu and Seaoil Philippines for winning the award under the Priority Integration Sector for Energy category,” said Joey Concepcion, chair-

man of the Asean Business Advisory Council Philippines. The Asean-BAC selects a strategic partner every year to ensure the quality and independency of the awards. Global professional services firm EY served as this year’s partner and aided in the shortlisting of nominees, criteria-setting, selection of judges and implementation of the ABA framework. ABA has recognized over 100 companies in the Asean since its inception in 2007 for excellence in the following categories: growth, employment, innovation and corporate social responsibility. ABA added the Priority Integration Sectors category of the awards in 2015. The Philippines had over 100 ABA aspirants this year. The country won 8 out of the 21 awards. Seaoil is the leading independent fuel provider in the Philippines with over 400 retail stations and a network of supply depots strategically placed throughout the country.

after successful completion of actual performance testing and interconnection. The cooperation period of the parties under the MOA shall be for a period of 20 years from the issuance of the acceptance certificate. MRC said the signing of the MOA is another significant milestone for the company and its plan to be a key player in the solar PV industry in the country.

MUTUAL FUNDS

MRC Allied already owns a 15-percent stake in Leyte-based solar power firm Sulu Electric Power and Light Philippines (Sepalco). Just recently, MRC signed a MOA with Edward Marcs Philippines Inc. for the design, supply, delivery, construction, installation, testing and commissioning of its 550 kWP Grid-Tied Solar PV Rooftop Project for two rice milling plants in Northern Luzon.

December 12, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 251.93 -12.08% 1.21% 2.91% -14.08% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.377 -13.75% 5.56% 2.73% -13.77% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8856 -13.61% 2.34% 1.33% -15.4% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8903 -11.86% N.A. N.A. -12.46% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8275 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.2435 -11.59% 0.11% 2.23% -12.8% MBG EQUITY INVESTMENT FUND, INC. * ****** 115.11 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.836 -14.39% N.A. N.A. -15.79% PAMI EQUITY INDEX FUND, INC.* 49.1421 -10.72% 2.24% N.A. -12.86% PHILAM STRATEGIC GROWTH FUND, INC.* 514.07 -10.77% 1.05% 2.27% -12.64% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2564 -8.97% 2.76% N.A. -10.53% PHILEQUITY FUND, INC.* 36.6167 -9.33% 3.25% 4.91% -10.9% PHILEQUITY PSE INDEX FUND INC.* 4.9507 -10.65% 3.02% 4.66% -12.75% PHILIPPINE STOCK INDEX FUND CORP.* 826.92 -10.47% 2.82% 4.77% -12.56% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8595 -9.28% 0.54% N.A. -11.13% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 4.0762 -9.32% 2.74% 3.16% -11% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9527 -10.83% 2.8% N.A. -12.86% UNITED FUND, INC.* 3.4997 -7.99% 4.18% 3.84% -10.13% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** 110.4989 -10.16% 3.98% N.A. -12.27% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.928 -14.49% 1.77% -0.89% -16.27% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.162 -6.74% N.A. N.A. -8.16% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6521 -9.78% -1.13% -0.93% -11.34% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.2001 -9.25% 1.29% 1.02% -10.46% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.5235 -7.94% -2.07% -1.11% -8.9% GREPALIFE BALANCED FUND CORPORATION* **** 1.3041 -9.24% N.A. N.A. -10.36% NCM MUTUAL FUND OF THE PHILS., INC* 1.8394 -5.98% 1.23% 2.34% -7.68% PAMI HORIZON FUND, INC.* 3.5285 -8.44% 0.11% 1.58% -9.94% PHILAM FUND, INC.* 15.8867 -8.1% 0.16% 1.42% -9.52% SOLIDARITAS FUND, INC.* ******** 2.0569 -7.1% 1.23% 2.71% -8.26% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6615 -7.25% 1.1% 1.6% -8.38% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9271 -7.9% 0.33% N.A. -9.13% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03501 -3.1% -0.41% 1.52% -3.02% PAMI ASIA BALANCED FUND, INC.* $0.933 -9.89% 2.01% -1.48% -10.89% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4198 -5.31% 3.15% 1.59% -6.37% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0264 -7.16% N.A. N.A. -7.71% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342.76 1.8% 2.09% 1.78% 1.68% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8546 -1.77% -0.69% -0.63% -1.99% COCOLIFE FIXED INCOME FUND, INC.* 2.9631 5.42% 5.33% 5.25% 5% EKKLESIA MUTUAL FUND INC.* 2.1288 1.21% 1.63% 1.31% 1.27% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2068 -0.34% 0.12% 0.24% -0.42% GREPALIFE FIXED INCOME FUND CORP.* P 1.564 -2.95% -0.29% -0.83% -2.83% PHILAM BOND FUND, INC.* 3.912 -3.32% -0.36% -0.23% -3.41% PHILEQUITY PESO BOND FUND, INC.* 3.4884 0.02% 0.84% 0.22% -0.47% SOLDIVO BOND FUND, INC. * 0.8912 -2.95% -0.82% N.A. -3.47% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7654 -0.54% 1.37% 0.61% -0.42% SUN LIFE PROSPERITY GS FUND, INC.* 1.5379 -0.84% 1.02% 0.14% -0.76% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $447.61 0.47% 2.29% 3.05% 0.37% ALFM EURO BOND FUND, INC. * Є212.22 -0.88% 0.94% 1.55% -0.7% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1242 -0.88% 0.88% 1.9% -0.87% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0249 -0.4% 0.82% N.A. -0.4% GREPALIFE DOLLAR BOND FUND CORP.* $1.6887 -4.7% -0.44% 1.1% -4.67% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0299 -4.41% -0.87% -2.6% -4.06% PHILAM DOLLAR BOND FUND, INC.* $2.1551 -4.14% 0.65% 2.52% -4.26% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0569624 -0.84% 0.88% 1.85% -0.42% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8706 -4.68% 0.37% 1.65% -4.72% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.58 2.63% 1.83% 1.53% 2.53% PHILAM MANAGED INCOME FUND, INC.* 1.1796 1.93% 0.59% 0.47% 1.92% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2166 2.6% 2.24% 1.54% 2.62% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0151 1.62% N.A. N.A. 1.64% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

The World BusinessMirror

www.businessmirror.com.ph

Trump threatens shutdown in wild encounter with Democrats

ASHINGTON—In a wild Oval Office confrontation, President Donald J. Trump heatedly threatened to shut down the US government on Tuesday as he and Democratic leaders bickered over funding for his promised border wall and offered a grim preview of life in Washington the next two years under divided government. Trump and House and Senate Democratic leaders Nancy Pelosi and Chuck Schumer squabbled for more than 15 minutes in the stunning, televised encounter. Each of them, especially Trump, interrupted the others to question facts, quibble over election results and lob insults. Trump questioned Pelosi’s ability to count votes in her own House. She questioned his manhood — after she left the building. The public clash marked Trump’s first meeting with the newly empowered Democrats since their midterm victories that put them in control of the House, laying bare the tensions on both sides and suggesting how divided government might work—or not—as the 2020 presidential election nears. Neither the public nor the private face-to-face portion of the meeting appeared to resolve the wall-funding dispute with a partial shutdown looming on December 21. However, Pelosi said Trump called her later in the afternoon and told her the White House was looking at options she and Schumer had laid out. In the public debate, Trump sounded more determined than ever to allow a partial government shutdown unless he gets the billions he wants for his long-promised wall along the US-Mexico border. “I will take the mantle. I will be

the one to shut it down,” he declared. Pelosi later crowed that she and Schumer had goaded the president to “fully own that the shutdown was his.” She told Democratic lawmakers back at the Capitol, according to an aide who was in the room, that the wall was “like a manhood thing for him...as if manhood could ever be associated with him. This wall thing.” The aide was not authorized to speak publicly and commented only on condition of anonymity. While Trump has suggested he may be willing to trade with Democrats and has publicly praised Pelosi, he was focused Tuesday on reinforcing his hardline immigration promises, repeatedly stressing border security and the wall as a critical part. Democrats were in no mood to sympathize, emphasizing their newfound political strength. “Elections have consequences, Mr. President,” said Schumer. Trump later called it a “friendly meeting,” saying “I’ve actually liked them for a long period of time and I respect them both. And we made a lot of progress.” The Democrats said they had given Trump two options to keep government open, and the responsibility lay with him and Republicans who control Congress. The wall remains the main sticking point in talks. Republican House Speaker Paul Ryan acknowledged on Tuesday that the GOPled House has yet to pass legislation that includes the $5 billion in border wall funds that Trump has been requesting. Ryan likely lacks sufficient votes from Republicans who will lose their majority at the end of the month. AP

Huawei CFO gets bail; China detains ex-Canadian diplomat V

ANCOUVER, British Columbia—A Canadian court granted bail on Tuesday to a top Chinese executive arrested at the United States’s request in a case that has set off a diplomatic furor among the three countries and complicated high-stakes US-China trade talks. Hours before the bail hearing in Vancouver, China detained a former Canadian diplomat in Beijing in apparent retaliation for the December 1 arrest of Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei and daughter of the company’s founder. After three days of hearings, a British Columbia justice granted bail of 10 million Canadian dollars (US$7.5 million) to Meng, but required her to wear an ankle bracelet, surrender her passports, stay in Vancouver and its suburbs, and confine herself to one of her two Vancouver homes from 11 p.m. to 6 a.m. The decision was met with applause in the packed courtroom, where members of Vancouver’s Chinese community had turned out to show support for Meng. She left the courthouse late on Tuesday surrounded by a security detail and was driven away in a black SUV without responding to questions from reporters. Amid rising tension between China and Canada, Canadian Public Safety Minister Ralph Goodale confirmed earlier that a former Canadian diplomat had been detained in Beijing. The detention came after China warned Canada of conse-

Industrial Policy–Hallelujah!. . . Hence, markets get roiled from time to time because there are market players who do not play based on perfect competition rules and the assumption that everyone does so. The so-called level playing field in an uneven and unequal economic order is never fair to the small players and to those who do not get any information on the state of the economy, such as the unlettered farmers, coastal fisherfolks, indigenous peoples, ambulant vendors, camote miners, etc. The World Trade Organization has a preambular principle: special and differential treatment. The SDT precept recognizes that not all countries are equal and at the same level of development. And yet, the WTO rule makers, coming mainly from the developed countries, try to impose uniform trade liberalization rules for all while keeping the system of expensive subsidies to their own farmers and domestic producers. This is like having equal rules apply to both the heavyweight and lightweight boxers, such as no head-butting, with extra protection or safety net given to the former! This is one of the reasons why the WTO’s Doha Development Round, launched in 2000 for the purpose of further liberalizing global markets, has failed to take off in two decades of WTO-led trade talks. Meanwhile, in the Philippines, the neoliberal economists have been making countless economic forecasts based on the imagined growth and job outcomes f rom t he tr iad of neol ibera l programs of trade/investment liberalization, privatization and economic deregulations, collectively called as “structural adjustment programs” or SAP. This is fine if such forecasts are treated as mere academic exercises to promote wider and deeper debates on the economic policy directions that the country must take. The problem arises when the authors of these forecasts market these forecasts as the sole basis of economic policy-making and the crafting of corresponding economic development strategies. And yet, no one comes out to own the mistakes when these forecasts fail, when these economic development strategies do not deliver the expected outcomes based on these forecasts. Examples abound, but the most spectacular and saddest is the forecast

Editor: Angel R. Calso • Thursday, December 13, 2018 B3

made in relation to the proposed Philippine membership in the WTO. In the 1994 Senate debate on Philippine membership in the WTO, the neoliberal advocates drowned the opposition by coming up with the following official forecasts: membership and adoption of the WTO liberalization rules (e.g., lowering of industrial tariffs, tarrification of agriculture, etc.) meant creation of 500,000 new jobs annually and realization of P3.2 billion net export surplus annually, both in the agricultural sector. And yet, since 1995, the Philippines has become instead a bigger and bigger agriculture-importing country. Agriculture has shrunk and now accounts for less than 10 percent of the GDP. In short, there has been a de-agricultural development. In the case of industry, the forecast was 500,000 new jobs being created annually, rising to 700,000-800,000 a year. This never materialized. Instead, we have witnessed a general stagnation of the country’s industrial sector under the program of export-oriented industrialization (EOI), a program that the neoliberals have been pushing since the 1980s, reinforced by the IMF-World Bank’s SAP loans in the 1980s and Philippine liberalization commitments to the WTO in the 1990s. In short, the country experienced deindustrialization. After four decades, the EOI-SAP program has only managed to create around a million or so jobs in the four export processing zones, two special economic zones and two scores of private industrial parks. The garments industry, which generated a million jobs in the 1980s, has disappeared with the removal of the quotas under the WTO’s Agreement on Clothing and Textiles. In the four decades of EOI-SAP, the Philippines was also bypassed by our Asian neighbors— first, by the Asian NICs (South Korea, Taiwan, Singapore and Hong Kong); then by Malaysia and Thailand; and, later, by China. All these countries have an Industrial Policy that is starkly different from what the Philippine neoliberal economists have been advocating since the 1970s. But somehow the Philippines is growing and is even seen as a growth leader in Asia today. As everybody knows, this is because of two economic phenomena: 1)

quences for Meng’s arrest. “We’re deeply concerned,” Goodale said. “A Canadian is obviously in difficulty in China.... We are sparing no effort to do everything we possibly can to look after his safety.” Michael Kovrig, who has worked as a diplomat in China and elsewhere, was detained by the Beijing Bureau of Chinese State Security on Monday night during one of his regular visits to Beijing, said the International Crisis Group, for which Kovrig works as North East Asia adviser. Rob Malley, head of the Brusselsbased nongovernment group, said Canadian consular officers had not been given access to Kovrig. He thinks Kovrig was in Beijing on a personal visit and definitely not there for any reason that would undermine Chinese national security. Canada had been bracing for retaliation for Meng’s arrest. The Canadian province of British Columbia canceled a trade mission to China amid fears China could detain Canadians to put pressure on Ottawa over Meng’s detention. “In China there is no coincidence,” Guy Saint-Jacques, a former Canadian ambassador to China, said of Kovrig’s detention. “Unfortunately Canada is caught in the middle of this dispute between the US and China. Because China cannot kick the US, they turn to the next target.” Earlier in the day, China vowed to “spare no effort” to protect against “any bullying that infringes the legitimate rights and interests of Chinese citizens.”

continued from a1

the huge volume of remittances ($30-B +) by the 11 million overseas Filipino workers who have failed to find quality jobs under the EOI-SAP program of the neoliberals, and 2) the surprising growth of the call center-BPO sector, which generated a million jobs. But the development of these two legs of the economy can hardly be linked to the floundering EOI-SAP program. And how long we can rely on these two legs is a question that policy-makers must address, sooner because of the mounting uncertainties in overseas migration and global service outsourcing. This is why efforts to infuse dynamism in our stagnant industrial sector is very much welcome. According to DTI Assistant Secretary Rafaelita M. Aldaba, this is precisely what the DTI team is doing through its “Manufacturing Resurgence” program. Former Sen. Joey Lina, the anchor of ABS-CBN program Sagot Ko Yan, released a sigh of relief—“Hallelujah”. Then Joey raised a truly strategic economic question: Are we targeting the domestic market as a platform to promote industrialization? After all, we have a 110 million population. Just imagine how many factory jobs and agro-industrial livelihoods can be generated if at least 50 percent of all the goods sold in the malls of the Sys, Gokongweis, Ayalas, Gaisanos, Villars and so on are all made in the Philippines, not imported. To this, Asec Aldaba answered that the domestic market is, in fact, at the center of the DTI industrial strategizing or restrategizing. Joey released another sigh of Hallelujah. Further, Asec Aldaba added that they recognize the mistake of the past EOI program. Wow, another hallelujah. But is this economic revisionism accepted by those who crafted the Neda’s PDP, which retains the old SAP-EOI macroeconomic framework? Is this economic revisionism accepted by those who made the imagined sustained growth trajectory for the country up to 2040, as if growth and poverty reduction are simply a question of growth-growth-growth through a build-build-build/tax-tax-tax program? Is this economic revisionism different from the proposed scaling up of Philippine participation in the global value chains of the MNCs, whose facilities are hosted by the EPZs under the old SAPEOI program?

Chinese Foreign Minister Wang Yi didn’t mention Meng by name. But ministry spokesman Lu Kang said Wang was referring to cases of all Chinese abroad, including Meng’s. Washington accuses Huawei of using a Hong Kong shell company to sell equipment to Iran in violation of US sanctions. It says Meng and Huawei misled banks about the company’s business dealings in Iran. On Tuesday, US State Department spokesman Robert Palladino told reporters in Washington “the charges against Meng pertain to alleged lies to United States financial institutions” about Huawei’s business dealings in Iran. “It is clear from the filings that were unsealed in Canada, Meng and others are alleged to have put financial institutions at risk of criminal and civil liability in the United States by deceiving those institutions as to the nature and extent of Huawei’s business in Iran,” Palladino said. Meng has denied the US allegations through her lawyer in court, promising to fight them if she is extradited to face charges in the United States. “We have every confidence that the Canadian and US legal systems will reach a just conclusion in the following proceedings,” Huawei said in a statement. “As we have stressed all along, Huawei complies with all applicable laws and regulations in the countries and regions where we operate, including export control and sanction laws of the UN, US and EU. We

look forward to a timely resolution to this matter.” Huawei, the biggest global supplier of network gear for phone and Internet companies, is a target of US security concerns. Washington has pressured other countries to limit use of its technology, warning they could be opening themselves up to surveillance and theft of information. The US and China have tried to keep Meng’s case separate from their wider trade dispute and suggested Tuesday that talks to resolve their differences may resume. But President Donald J. Trump undercut that message in an interview Tuesday with Reuters, where he said he would consider intervening in the case against Meng if it would be in the interest of US national security or help forge a trade deal with Beijing. Roland Paris, a former foreign policy adviser to Canadian Prime Minister Justin Trudeau, called Trump’s comments troubling. “Canada is fulfilling the terms of its treaty obligations and upholding the rule of law in good faith, and paying a price to do so. If the US is not equally committed to the rule of law in this case, the extradition request should be withdrawn immediately,” Paris tweeted. News that China’s economy czar had discussed with US Treasury Secretary Steven Mnuchin and Trade Rep. Robert Lighthizer for talks aimed at settling the two countries’ difference lifted share prices around the world on Tuesday. AP

B4 Thursday, December 13, 2018

WORLD’S LARGEST IKEA STORE TO OPEN IN 2020 BUY GENIE HAND SHOWER AND HELP A CHILD HAVE ACCESS TO BASIC SANITATION

O I

KEA is planning to open its largest store in the world at the SM Mall of Asia Complex in 2020, launching a pre-opening web site in a lively event with coworkers, business friends and government officials. “The Ikea vision is to create a better everyday life for many people, so we are excited to be bringing our offer to a country where millions of people share our passion for home,” said Christian Rojkjaer, Ikea managing director for Southeast Asia. “We have around 9,000 well-designed, functional home-furnishing products that can help people make everyday life at home a little better. All [are] at an affordable price!” At around 65,000 square metres, the first Ikea store at the Mall of Asia will be about as big as 150 basketball courts, almost double the size of a typical Ikea big, blue box. The shop floor will be similar to other Ikea stores, but the building will also house a contact center and supersized warehouse to accommodate e-commerce operations. When the store opens by end-2020, millions of people in Greater Manila will also be able to shop online and get orders

delivered direct to their doors. Ikea Southeast Asia is making an initial investment of around P7 billion to fit out, stock, market and staff the store’s premier opening. The company plans to hire around 500 Filipino coworkers, and will create hundreds of spinoff jobs and business opportunities. Ikea is now looking for local partners to support operations in areas, such as food supply, transport, waste management, security and more. Visit Ikea Philippines’s web site at www.IKEA.ph. The Ikea store in Manila will have everything people need for their home under one roof, from candles and cookware to kitchens and sofas. There are also hundreds of products that help people live a more sustainable life at home, ranging from affordable LED lights to recycling solutions. A typical Ikea store includes more than 55 inspirational room settings. The self-serving warehouse has flat-packed products that are ready for take-home on the same day. Parents can drop kids at a supervised playroom, and there is a restaurant with meals for the whole family.

PCSO REITERATES WARNING AGAINST GAMING FIRM’S CONTINUED ‘PERYAHAN’

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UWAG magpaloko, Huwag magpagoyo!” This was the stern warning of Philippine Charity Sweepstakes Office (PCSO) General Manager Alexander Balutan regarding the continued illegal operations of pereyahan by Globaltech Mobile Online Corp. Balutan stood firm that the peryahan is no longer recognized or authorized by PCSO and, thus, operating illegally. “We respect the resolution of the Department of Justice on the case filed by the National Bureau of Investigation [NBI] against the arrested tellers of Globaltech, but we have stood our ground that the peryahan being operated by Globaltech is illegal. It’s a front of illegal numbers game,” Balutan said. Balutan said the PCSO, together with lawenforcement agencies such as the NBI, will not be deterred by the DOJ’s resolution from implementing crackdowns against peryahan operations nationwide. On March 2, 2016, PCSO issued Board Resolution 51, series of 2016, terminating the deed of authority of Globaltech to operate peryahan; and on October 13, 2017, the Pasig City Regional Trial Court Branch 161 denied Globaltech’s motion for issuance of a writ of injunction. “PCSO revenues have been adversely affected by the continued operation of illegal gambling, which unfairly competes with our legal gaming products, particularly

the small town lottery [STL], and so the agency has to act by stopping the operations of Globalteach nationwide,” Balutan added. “We are going all out to stop illegalgambling activities throughout the country, to protect our legal-gaming products, particularly the STL.” Globaltech’s permit was terminated in 2016 due to supposed nonremittance of earnings worth about P100 million. Last month the NBI and PCSO representatives raided the office of Globaltech in Quezon City that resulted to the arrest of 57 people involved in the illegal activity. More operations conducted in Cebu and Mandaue with the arrest of 40 suspects. All suspects were charged for violating Republic Act 9287, or the “Act to Increase Penalties Against Illegal Numbers Games”. Some of the suspects were also facing charges for violation of RA 10175, or the Cyber Crime Prevention Act. Unfortunately, the DOJ prosecutors had dismissed the charges against the Quezon City suspects, citing an alleged “status quo ante” issued by a court. Globaltech has sought for a Writ of Injunction, and this was dismissed by the same court on October 13, 2017. “All told, the motion for issuance of Writ of Injunction is denied for lack of merit, and parties are directed upon receipts of this order to arbitrate pursuant to the special rules of court on alternative dispute resolution,” the court said.

N December 15 four countries in Asia—India, Indonesia, the Philippines and Thailand— will simultaneously mount a benefit sale of American Standard Genie hand showers with 100 percent of proceeds to be donated to the LixilUnicef ’s Make A Splash program. In India all proceeds will be donated to the Unicef India WASH program. Fittingly named “Shower For Good”, consumers who’ll buy Genie hand shower will be able to enjoy great shower experience and, at the same time, help children live healthier lives through access to basic sanitation. As the world’s biggest player in water technology, Lixil leverages its expertise as it teams up with Unicef, which works in over 100 countries worldw ide, to improve access to clean water, basic toilets and good hygiene practices. Through Make A Splash, t he t wo organizations a im to promote loca l sa nit at ion markets by creating demand for sa n it at ion products l i ke toi lets, improving supply of such products and supporting opportunities for affordable finance. As part of the Lixil Group, the American Standard brand aims to sell 1,000 units of Genie hand shower in each of the four participating

countries in the benefit sale, with all proceeds going toward the program. In India all proceeds will go toward the Unicef India WASH program. The Genie hand showers will be sold at a specially discounted price at P595 each. For the convenience of the public, everyone can pre-order online by simply visiting at https://americanstandard.com. ph/shower-for-good/. The public and invited guests at the Eastwood Mall Central Park Open in Libis, Quezon City, will be treated to a Chorale Fest, as the benefit sale is manned by university studentvolunteers and civic organizations to deliver all 1,000 Genie hand showers. Pl ac ing comfor t, hyg iene a nd aesthetics at its forefront, the awardwinning Genie hand shower boasts better water pressure performance because of a specially designed water channel; and 120 microspray holes that ensure a robust water f low even

under low pressure. In addition, users can also look forward to a visibly clean shower experience. Sporting a rarely seen translucent shower face, the Genie hand shower is also revolutionary in its product design, prompting users to clean the slime and mineral deposits to ensure clean water for their shower, even after a long-time use. With your support, the benefit of a great shower can extend not just to you and your family, but to a child whose life may be changed for good. The Shower For Good event will help give disadvantaged children access to an appropriate toilet. Toilets are proven to help boost children’s survival rates, make communities healthier and more productive, and even improve a child ’s chances of attending school. By 2021 the Lixil-Unicef ’s Make A Splash program is seen to contribute in improving global basic sanitation for 250 million people around the world. The Unicef and Lixil, with the help of its consumers and customers, are improving sanitation around the world, one toilet at a time. Visit https://americanstandard. com.ph/shower-for-good/ and make a pledge to purchase Genie hand shower on December 15.

MAD HOLIDAY FEAST AT CUCINA

HERE’S nothing quite like a bountiful feast in a long table to share with your special ones. Savor all-time favorite holiday treats that bring happiness this season at Cucina. A s t he hote l t ra n sfor m s to a “ W himsica l Winterl a nd ”, t he culinary journey brings indulgent dishes to life as these leave their own brand of magic on one’s taste buds. Christmas Eve dinner buffet highlights a wide array of dishes, such as roast Angus beef rib eye, caramelized ham and crispy duck breast on mango basil sauce. Have the traditional Noche Buena with a midnight spread that includes Filipino signatures pancit palabok and Cebuano pork humba. Staple bibingka and puto bumbong will be served to complete the holiday. Relish the welcome of the New Year with sumptuous dishes. Media Noche dinner features Iberico pork

loin w it h apple sauce, C hinese ba rbec ue duc k , a nd g rat i n ated prawns, mussels and salmon with whole-grain mustard cream. Have a feast of orecchiette with pepperoni and tomatoes, and roasted leg of pork for New Year’s Day. Cucina is open daily for lunch from 12 noon to 2:30 p.m. and d i n n e r f r o m 6 t o 10 : 3 0 p. m . Midnight buffet will commence at 11 p.m. on December 24 and 31. Holiday rates are at P3,800 on Christmas Eve; P1,800 on Noche Buena; and P2,888 on Christmas Day. On the other hand, New Year’s Eve dinner is available at P3,800, while rates for New Year’s Day is at P2,888 per person. For more infor mation about Marco Polo Ortigas Manila’s Mad Holiday Feast, contact (632) 7207777 or book on l ine v ia www. marcopolohotels.com, or e-mail at manila@marcopolohotels.com.

A VIBRANT SPACE FOR THE HOLIDAYS

T ’S the time again when streets a re br ight ly l it under t he tw ink ling lights. Savoy Hotel M a n i l a i s cool i ng up t he w a r m Philippines Christmas with winter e le me nt s i nto it s s p a ce, g i v i n g travelers, individuals and families a warm, white, and vibrant feel of the season. T he u su a l color f u l, v ibra nt interiors of Savoy Hotel Manila get a holiday makeover, bringing winter and even Santa into the city! Savoy Hotel Manila will have a Santa’s corner where ever yone can take photos, high fives and warm cheers with Santa. Giving warmth and vibrancy to Savoy Hotel Manila’s winter is the ser vice of the staff. The smiles and greetings will surely make your stay wa r m a nd br ight. Ever yone w i l l receive the signature Savoy and, of course, Filipino hospitality, making ever yone feel the holiday spirit. A w a r m , w h it e , a n d v i b r a nt Chr istmas await g uests at Savoy Hotel Manila. For more details, visit www.savoyhotelmanila.com.ph. L i g ht i ng up t he S avo y Hote l Manila’s White Christmas is Lorenzo Tang, area general manager, together with the executive committee: (from

left) Rey Fabricante, area director of operations; Efren Moreno, area d i r e c t o r o f e n g i n e e r i n g ; Ta n g ; Bernadette Roxas, human resources area director; R aquel Marasigan,

director of sales and marketing; Nanette Pangatungan, area director of housekeeping ; and Ber nard Bulaong, area director for food and beverage.

Sports BusinessMirror

| Thursday, December 13, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LEBRON JAMES and Dwyane Wade swap jerseys after the final buzzer, their bittersweet emotions overshadowed by the excitement of the moment and the possibilities of the future. AP

END OF A STORYBOOK L

By Greg Beacham The Associated Press

OS ANGELES—Dwyane Wade will be spending a lot of time in Los Angeles while he settles into retirement next year. He already has a house here, and his wife’s acting career would undoubtedly benefit from more time in Hollywood. LeBron James is a newly minted Southern Californian himself, and he’s already hatching schemes to occupy his former teammate, longtime rival and permanent friend. “I told him, ‘No one likes to work out by themselves,’” James said with a grin. “So he can come to Staples. He can come to the practice facility anytime he wants to get workouts in. He can come help me with the young guys as well. He’ll be around a lot more personally for me, so I’ll love that.”

Wade still has 56 regular-season games left in his self-declared final National Basketball Association (NBA) season with the Miami Heat, but he passed a major milestone in that procession when he lined up against James for the final time Monday night in the Los Angeles Lakers’ 108-105 victory. The result wasn’t the most important part of the night to either man. They were wrapped up in the pure thrill—in the chance to face off for the final time in two incredible basketball careers that have been chronologically parallel, frequently intersecting and always momentous. “I knew that at some point in the game, it was going to hit me that this was the last time we were competing against each other,” Wade said. “It hit me right away, once that buzzer sounded and we got the opportunity on the court to just look at each other and be like, ‘Man, this has been fun. This has been one

hell of a ride, and we’ve enjoyed it together.’” James put up 28 points, 12 assists and nine rebounds. Wade scored all 15 of his points in the second half to go with 10 assists and five boards. But the best moments arrived late when James and Wade finally guarded each other, playing one last oneon-one game for keeps. Defense won out on both ends, probably because they know each other well enough to take away their strengths. They funneled each other to drive to their more uncomfortable sides, and James forced Wade to attempt a 27-foot turnaround, fadeaway three-pointer that missed badly with 7.2 seconds left. Wade was more open when he missed a three that would have put the Heat ahead with 22.5 seconds left. “I needed that one,” Wade said with a grimace. “I wanted it so bad. I think I wanted it too much. It would have definitely been memorable. But this is my

last time playing against this guy, you know? This is the holy grail in the NBA. Unless we figure this thing out and we go to the Finals, this is the holy grail for me. The competition of playing against the game’s greatest player. Playing it in LA. I thanked him for bringing us to this stage for our last hurrah on this stage. It gets no better than this.” Barring a change of Wade’s retirement plans or that incredibly unlikely NBA Finals matchup, they’ll never face each other in a real game—and the Lakers’ victory put James ahead of Wade, 16-15, in their head-to-head matchups over their career. James marveled at the symmetry in this final showdown, but both players said their times together meant a whole lot more than their times in opposing uniforms. James and Wade won two NBA championships and four straight Eastern Conference titles together

in Miami, along with their Olympic gold medals from Beijing. “The game is going to take care of itself, but just the fact that we were on the floor doing what we love to do, that’s what’s more important,” James said. “Wins and losses are going to happen throughout the course of the season and throughout the course of your career, but those moments right there, you can’t ever get back.” James and Wade swapped jerseys after the final buzzer, their bittersweet emotions overshadowed by the excitement of the moment and the possibilities of the future. “It’s the end of a storybook,” James said. “One of the best movies you could ever see. It’s too hard to put into words. Thank God they’re staying the night. We get to have dinner [later]. I know he has more games, but that’s the last one for us.”

stage. ESports powerhouse Cloud9 became the first NA LCS club to even make the semifinals at the League of Legends World Championship this year, and it only had one US player in its starting lineup. The lackluster American feeder system was a talking point when NA LCS franchise owners met this summer. “A lot of our amateur system has fallen away,” said NA LCS Commissioner Chris Greeley. “I think we all agree that it is shallower right now than it could be and should be.” Riot Games, which publishes “League of Legends” and manages its professional circuits, is partnered with Super League and hopes the organization can boost the reputation of American gaming. Super League uses proprietary software to pair players with competition at the appropriate skill level, and its weekly in-person events allow for stronger development than if players were left to practice alone. Super League also makes it easier for pro franchises to scout players and evaluate their talent and makeup. “You can’t really just look at the best players online

and use that as your primary way to find the next great pro because the problem is that you don’t know a lot about their behaviors,” Hand said. “Will they be able to handle the pressure of being at the Staples Center or Madison Square Garden?” Just like Little League, it’s not strictly about churning out elite talent. Super League also creates an in-person sense of community around gaming, one that allows parents to watch and even coach. Some have concerns about their kids spending too much time on screens, but at least with Super League, gaming happens in a social, supervised space—better than playing solo in a basement or bedroom. “It’s one of the best decisions we’ve made,” said Alon Rothschild, who drives his 11-year-old son, Frankie Capello, over an hour from Staten Island to compete with New York’s “Minecraft” team. The co-ed organization provides players with uniforms, tech support and access to its digital platform, which allows players to log into Super League competitions from anywhere. But it’s the in-person events that pull kids in. AP

CHRISTIAN PINEDA poses at a Super League video game competition as New York Fury team competitors react at the City Center 15 Cinema de Lux in White Plains, New York. AP

‘LITTLE LEAGUE’ FOR ESPORTS W

HITE PLAINS, New York—Christian Pineda plays a lot of video games, but he’s best at “Minecraft.” Hunched over a laptop in the front row of a half-full movie theater last month, the 13-year-old eagerly showed off why. “I basically know the controls like the back of my hand,” he said before turning his focus back to a tight match against a rival team from Boston. Christian claims to be shy at school, but here, he’s a vocal leader on a New York team of nearly 20 eSports competitors, some as young as six years old. With a spot in the league finals on the line, Christian tapped away at his keyboard and excitedly discussed tactics with teammates. The group was strategizing over pickaxes and archers, not pitchers and catchers, but the focus on teamwork and communication could have come straight from the bench at

a youth baseball game. At Super League Gaming events like this, that’s the goal. “Like Little League for eSports,” says Super League CEO Ann Hand. Super League is trying to bring structure to an industry devoid of it at the youth level. The organization was founded in 2015 and runs national leagues for three eSports games: “Minecraft” for players in elementary and middle school, and “League of Legends” and “Clash Royale” for older players. Kids are often introduced to competitive video games via “Minecraft” before graduating to “League of Legends,” giving them a place to train and play throughout their teenage years and beyond—the “League of Legends” competitions don’t have an age limit. Super League Gaming has tens of thousands of players, although not all attend every live event, and its “Minecraft” championship has been turned

into a reality TV show on Nickelodeon. The hope is that Super League can close a major gap in the eSports ecosystem for young gamers, particularly in the United States. The industry is set to eclipse $1 billion soon, and there are more professional opportunities than ever. Pros in the NA LCS—the top North American “League of Legends” circuit—averaged over $300,000 in salary this season, and many colleges now provide eSports scholarships. Careers in eSports coaching or game design are increasingly in demand, too. But to pursue those jobs, players need to start early. ESports pros often peak in their early 20s, and elite talents in countries like South Korea are being identified before reaching middle school. The relatively weak US gamer pool is holding back North American franchises from competing on an international

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C2 Thursday, December 13, 2018

Japan’s Seto sets world record in 200-m butterfly in Hangzhou

ANGZHOU, China—Japan’s Daiya Seto set a world record in the 200-meter butterfly and upset Chad le Clos at the world short-course swimming championships. Seto, who won bronze in the 400-meter individual medley at the 2016 Olympics, held off le Clos down the stretch to win in one minute and 48.24 seconds. Le Clos, who held the previous mark of 1:48.56 set at a World Cup meet in Singapore in 2013, placed second. Le Clos holds six of the eight fastest times in the 200 fly, with Seto holding the other two. The US men’s 4x100-meter freestyle relay team also set a world record. Two-time Olympic gold medalist Caeleb Dressel, who set an American record on

the first leg, Blake Pieroni, Michael Chadwick and Ryan Held had a time of three minutes and 03.03 seconds, beating the old mark also held by the US of 3:03.30 set in December 2009. The American women’s team won gold in the same event. Olympic gold medalist Olivia Smoliga, Lia Neal, Mallory Comerford and Olympic gold medalist Kelsi Dahlia finished their relay in 3:27.78, ahead of the Netherlands in 3:28.02 and China in 3:30.92. Australia’s Ariarne Titmus won the 200-meter freestyle in 1:51.38, with Comerford placing second. Hungary’s Katinka Hosszu, a triple gold medalist at Rio in 2016, won the women’s 400 individual medley in 4:21.40. AP

GLOOMY SKY TEAM Sky will race under a different name from 2020 only if new funding can be found.

L JAPAN’S Daiya Seto books an upset in the world short-course swimming championships. AP

ONDON—Sky is set to withdraw from cycling following the European pay TV broadcaster’s takeover by American company Comcast despite winning the Tour de France for a sixth time with Geraint Thomas this year. Team Sky will race under a different name from 2020 only if new funding can be found, according to Sky officials. The team was established in 2009 by Dave Brailsford, the brains behind Britain’s 14 medals in cycling at the 2008 Beijing Olympics, with the target of producing the country’s first Tour de France champion. That was achieved in 2012 with Bradley Wiggins, who was later beset by controversies that engulfed the team. Chris Froome went on to win four Tour

titles and Geraint Thomas became the third Team Sky rider to triumph in France. Sky CEO Jeremy Darroch says “the end of 2019 is the right time for us to move on as we open a new chapter in Sky’s story.” The announcement also confirmed that 21st Century Fox would also end its partnership with the team at the end of 2019. “We came into cycling with the aim of using elite success to inspire greater participation at all levels. After more than a decade of involvement, I couldn’t be prouder of what we’ve achieved with Team Sky and our long-standing partners at British Cycling. But the end of 2019 is the right time for us to move on as we open a new chapter in Sky’s story,” said Jeremy Darroch, the Sky Group’s chief executive.

Despite the departure of Sky, the team hopes to secure a new sponsor for the 2020 season. “While Sky will be moving on at the end of next year, the team is open-minded about the future and the potential of working with a new partner, should the right opportunity present itself,” Brailsford said. “For now, I would like to thank all Team Sky riders and staff, past and present—and above all the fans who have supported us on this adventure,” Brailsford added. “We aren’t finished yet by any means. There is another exciting year of racing ahead of us and we will be doing everything we can to deliver more Team Sky success in 2019.” The riders, including Froome and Thomas, were told about Sky’s withdrawal at the team’s

RAPTORS IN FIERY FORM

NBA RESULTS Houston 111, Portland 104 San Antonio 111, Phoenix 86 Toronto 123, LA Clippers 99 KYLE LOWRY and the Raptors cruise past the Clippers. AP

Canelo-Rocky title showdown airs live on Sky

AUL “CANELO” ALVAREZ ends 2018 with a bang as he challenges world supermiddleweight champion Rocky Fielding on Sunday airing live via SKY Sports Pay-Per-View. Just three months after his explosive win against Gennady Golovkin II, the World Boxing Association (WBA) and World Boxing Organization champion (50-1-2, 34 KOs) moves up to 168 pounds, bringing him closer to his dreams of becoming a three-division champion. If he wins the title match against Fielding, Canelo will be in the same league as Marco Antonio Barrera, Juan Manuel Marquez and Erik Morales— some of the few Mexican boxers to capture world titles in three divisions. Fielding (27-1, 15 KOs), meanwhile, is set to enter the biggest fight of his career after demolishing Tyrom Zuege in a fifth-round technical knockout to win the WBA belt. Many analysts consider the Brit boxer as the underdog of the match but he holds a 4 to 5 inches height advantage over the Mexican considering him as the largest opponent Canelo has ever faced.

winter training camp in Majorca. Brailsford had always maintained that Sky’s future was secure—and he was certainly acting as if that was the case. Thomas only signed a new multiyear deal this autumn, with Egan Bernal—Team Sky’s young Colombian starlet—also signing a new five-year deal. Earlier this summer, Brailsford’s team agreed a lease at the Manchester Institute of Health & Performance, a few hundred meters from the national velodrome where they have been based since the team’s inception in 2009. The lease is understood to be long term—at least five years, which would take it up to the end of what was being spoken about as Team Sky’s “secured funding cycle” of 2024. It is fascinating news—particularly given McLaren’s announcement that it is to enter the sport next year—but perhaps not entirely surprising. Sky Plc. is in the process of being taken over by US cable giant Comcast and there was never any guarantee that the new owners would be as committed to handing over £30 million-plus every year. AP, Cyclingnews and The Telegraph

OS ANGELES—Kyle Lowry was in a funk right along with his Toronto Raptors. He had a combined 15 points in his last five games while the team had lost three of four. Adding to their woes, leading scorer Kawhi Leonard was out with a bruised right hip against the surprising Clippers. “It was just time for me to step up and play,” Lowry said. Serge Ibaka had 25 points and nine rebounds, Lowry added 21 points while making four of the Raptors’ 14 three-pointers, and Toronto cruised past Los Angeles, 123-99, on Tuesday night. “We didn’t slow it down,” Lowry said. Toronto shot 52 percent from the floor, had 34 assists and outscored the Clippers 28-4 in fast-break points. “This was a game everybody thought would be very difficult for us to win,” Coach Nick Nurse said, “but we kind of lined up all these things and were very focused.”

Fred VanVleet kept the ball moving in place of Leonard with a career-high 14 assists. “Whether Kawhi played or not, I think he was going to have a healthy game,” VanVleet said of Lowry. “When he’s playing like that, we’re going to be a tough team to beat.” The Clippers endured their biggest loss of the season against the National Basketball Association’s (NBA) best team (22-7). “From the start you could see the Raptors pushing the pace at us the entire game,” Clippers Coach Doc Rivers said, “and we really never caught up to it.” With leading scorer Tobias Harris held to 10 points—he averages 21.4—the Clippers were led by a pair of reserves. Boban Marjanovic had 18 points and Tyrone Wallace added 15. Their fourth loss in six games dropped them into a tie for second with the Lakers at 17-10 in the Pacific Division. “We just gave in to their offensive pressure,” Rivers said. The Raptors extended their lead in the third quarter, using an early 10-0 run followed by five consecutive threepointers to go into the fourth ahead 103-74. Lowry hit three of the threes and Delon Wright had two. “When he let go he knew it was going in,” Nurse said of Lowry. Ibaka had back-to-back monster dunks before the three-point onslaught began, drawing cheers on Canada Night at Staples Center. Both teams played their reserves in the fourth, but the Clippers were too far behind to make a serious dent. The Houston Rockets’ bench, meanwhile, came to the rescue twice on Tuesday night, and the second time made the difference. James Harden had 29 points and seven Rockets scored in double-figures, as Houston used a big secondhalf run and snapped a three-game losing streak with a 111-103 victory over the Portland Trail Blazers. Chris Paul added a triple-double with 11 points, 11 rebounds and 10 assists. Clint Capela had 13 points and seven rebounds before fouling out with five minutes left, and Eric Gordon, who started in place of James Ennis, had 14 points for the Rockets, who shot 49 percent from the field. “We did a good job of just competing, playing harder,” Harden said. “That was really it—playing harder and got into them. We were a little more aggressive. Good things seem to happen when you play harder.” Houston’s bench played a key role in a 24-6 firsthalf run that erased a 15-point deficit, and then led a charge in the second half. Gerald Green had 13 points, and Danuel House had 12 off the bench. AP

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sMirror

Thursday, December 13, 2018

Adamson U hands NU first setback

DAMSON University handed National University (NU) its first loss with a narrow 62-59 victory in the University Athletic Association of the Philippines Season 81 juniors basketball tournament on Wednesday at the Blue Eagle Gym. Adrian Manlapaz foiled Gerry Abadiano’s potential game-tying triple as the Baby Falcons ended the Bullpups’ five-game winning run. It could have been Abadiano’s fourth three for the day. Joem Sabandal had 13 points and 11 rebounds, while Manlapaz came with 11 points and 14 rebounds for Adamson University. Abadiano made 17 points for NU, which fell to 5-1 won-lost heading into their Finals rematch with Ateneo, which overwhelmed University of the East, 84-62, over the weekend before the league enters the annual Christmas break.

Blaze Spikers battle Cargo Movers anew in Superliga All-Filipino finals

Kai Sotto was at his usual best with 25 points, seven rebounds, three steals and two blocks as the Blue Eaglets move into a tie with the Bullpups in first place with a 5-1 card. In the other games, Far Eastern UniversityDiliman routed University of the Philippines Integrated School, 102-72, and University of Santo Tomas turned back De La Salle-Zobel, 63-56. Xyrus Torres fired a career-high 27 points built on six triples, while RJ Abarrientos added 14 points, six assists and four rebounds for the Baby Tamaraws, who are now 4-2 along with the Baby Falcons in joint third. Rookie Mark Nonoy had another all-around game with 19 points, 12 rebounds and six assists, while Bismarck Lina posted his own 10-point, 12-rebound double-double effort as the Tiger Cubs evened their record at 3-3.

Bulldogs go unbeaten in UniGames

ATIONAL University (NU) made Team Philippines proud anew by beating Malaysia, 25-14, 23-25, 25-23, 25-20, to clinch a semifinals berth on Wednesday in the 19th Asean University Games volleyball tournament in Naypyitaw, Myanmar. Angelo Almendras nailed a huge kill to give the Bulldogs, who also represent the University Athletic Association of the Philippines, a 2-1 set lead. Bryan Bagunas and Almendras then conspired in the fourth set onslaught to help the Philippines to sweeping Pool A. The Filipinos will go up against the No. 2

team in Pool B in the semifinals on Thursday. Indonesia and Singapore, both sporting 0-1 records, are vying for the other semifinals berth in their bracket. The Philippines shocked titleholders Thailand, 30-28, 25-23, 25-19, last Sunday. With its second straight loss, the Malaysians were relegated to the battle for fifth and sixth slots. Host Myanmar beat Singapore, 25-13, 25-14, 25-11, on Tuesday to became the top Pool B team with a 2-0 card. The Burmese will face the Thais, who placed second in Pool A with a 1-1 slate, in the other semifinal pairing.

CJ PEREZ is attracting attention and looms as the No. 1 pick in the draft.

UNIVERSITY of Santo Tomas’s Tin Francisco challenges almost the entire University of the East defense during their match on Tuesday.

EX-PIRATE’S TOP PROSPECT J PEREZ exudes not only savvy on the court, but with a remarkable work ethic. The former Lyceum of the Philippines University Pirate is one of 48 aspirants in the Philippine Basketball Association Rookie Draft who began to convince coaches and scouts in the Draft Combine on Wednesday at the Hoops Center in Mandaluyong City. Perez, the 6-foot-1 guard who was named Most Valuable Player in the National Collegiate Athletic Association in Season 83, is considered one of the favorites to be picked first in the proceedings on Sunday at Robinsons Place Manila. A native of Bautista, Pangasinan, Perez feels the excitement and pressure if ever he is picked No. 1. “I’m very excited. But there is pressure and I need to face it,” Perez said. “There will be expectations and that’s why I need to prepare myself well.” Possible No. 1 picks are journeyman Ray Parks Jr.and Robert Bolick of San Beda. Columbian Dyip will again choose first. The cellar dweller in the PBA expectedly bagged Christian Standhardinger but sent the 6-foot-7 big man to San Miguel Beer in a controversial trade. Blackwater will pick second, followed by Northport, Phoenix, Meralco, Rain or Shine, NLEX, Rain or Shine again, Alaska, Magnolia, Columbian Dyip and Phoenix. All eyes were on Perez, Parks and Bolick in

the Draft Combine, along with 6-foot-6 forwardcenter Abu Tratter of De La Salle, 6-foot-3 forward Javee Mocon of San Beda and 6-foot-2 do-it-all wingman Bong Quinto of Letran. In the Draft Combine, the players were measured and interviewed and subjected to shooting drills, medical tests, five-on-five drills and other tests of athleticism. Fresh from leading the fight for the Pirates in the NCAA Finals against the Red Lions, Perez packs the best credentials that could convince Columbian Dyip to pick him first. But Perez said it won’t matter where he lands. “I wish to perform the same winning culture and attitude with any team. I want to give the team the best I could offer,” he said. After two failed tries against San Beda in the NCAA, Perez said his dream for a title could come in the PBA. “Maybe I’ll win it in PBA. It’s a lot harder here but I’m giving my shot,” he said. Only one of the 49 aspirants didn’t show up in the Draft Combine—University of the East forward RR de Leon missed the anthropometry tests and was automatically dropped from the draft list. Surprisingly, other guys took the spotlight from the front-runners, with lesser-known recruits topping the measurement and biometric tests. John Ragasa of Victoria Sports tallied the fastest time in the Shuttle Run with 21.97 seconds, while Far Eastern University’s Joe Trinidad got the 3/4 Court Sprint in just 3.25

seconds. Reed-thin center Jeepy Faundo of University of Santo Tomas also registered the highest Vertical Leap with 33.29 inches and Ateneo forward Dan Wong got the Max Touch (Jump Height) with 39.19 inches. But the one who turned the most heads was CJ Isit. The Mapua guard recorded the fastest time

in Lane Agility with 11.2 seconds and notched an 84-percent result in the Reaction Test. The Thursday session of the twoday Draft Combine will see players test their skills against one another with the conclusion of the minitournament. Ramon Rafael Bonilla

SOUTHWOODS RUNNING AWAY M

ANILA Southwoods simmered with 128 points on Wednesday but saw its lead balloon to 31 points in the Fil Championship division of the 69th Fil-Am Invitational Golf Tournament at the Baguio Country Club (BCC) course. The young guns did the job for Southwoods with Yuto Katsuragawa submitting a team-best 34 points, Aidric Chan adding 33, Carl Corpus a 32 and Aguri Iwasaki a 29. The team’s senior player, Junjun Plana, was off anew and didn’t count with a 28, but Southwoods totaled 266 which looked strong enough to retain the crown in the premiere division. Royal Northwoods made 119 for the day and drifted away from the pace with 235 points. The team drew 30 points from Luigi Paolo Wong, Carlo Villaroman and Raymund Sangil and 29 from Richard Joson. Forest Hills-Puma, meanwhile, had 33 from Inigo Raymundo and 32 Jude Eustaquio for a 124, enough to cut Northwoods’s lead to five with 231 points. Rocky Co and former national amateur champion Rupert Zaragosa adding 30 and 29,

respectively, for Royal Northwoods. Mizuno—X-1R may have improved on the second day shooting 108 points to amass 207 for fourth spot. The teams take a break before raking on the longer Camp John Hay (CJH) course on Friday. “That’s a big lead, it’s not that we are giving up but with the caliber of players Southwoods has, we just hope to finish with a respectable score,” Forest Hills captain Eustaquio said. “It will be fun and we know that Dodong [Zaragosa] will have some firepower there,” Eustaquio added. Eustaquio hopes that their game will get “a little better each day” as they also narrowed the gap with Northwoods from nine to four. Southwoods also made a strong presence in the Am, Championship and with 130 for the day, totaled 277 points for a 36-point lead over surging Batangas Barakos. They are on course to matching their 50-point victory last year. Lanz Uy, Josh Jorge and 14-year-old Masaichi Otake made 34 points each, while 13-year old Jeff

Jung added 29 for Southwoods. Liam Cully carded 27 and did not count. “This is a pretty young team with a 13-yearold and two 14-year-old players—because we want to train new ones. With Aidric and Carl leaving for the United States next year, we want to have somebody to replace them and any of the young guys will be the replacement,” Southwoods captain Thirdy Escano said. Ricky de los Santos was one over 70 on Wednesday for 35 points to lead Batangas Barakos’s 124-point effort that netted them a 241 to overtake first-round second placer Philippine Navy (111 and 231). Michael Mendoza made 33, Gary Sales equaled his first round 30 and Takuya Kawamura chipped in 26 to count for the Barakos. Demitrio Sanchez paced Navy with 32 for 111 points, which was three off Forest Hills Nicklaus that submitted 116 on Rodel Mangalubnan’s 33 for 228 points. Razons of Guagua matched its first day total of 109 for 218 points at fifth spot.

YUTO KATSURAGAWA watches the line of his putt at hole No. 1 of the Baguio Country Club course.

NE of the country’s fiercest volleyball rivalries take centerstage anew after Petron and F2 Logistics dismantled their respective foes in the semifinals of the Philippine Superliga All-Filipino Conference late Tuesday at the Muntinlupa City Sports Center. The Blaze Spikers crushed Cignal, 25-21, 25-20, 25-16, while the Cargo Movers eked out a pulsating 21-25, 25-15, 25-20, 19-25, 15-5 victory over Generika-Ayala to forge a rematch of their best-of-three finals duel. Game One of the finals unwraps this Saturday at the Mall of Asia Arena. University of Santo Tomas, meanwhile, tries to sweep the preliminaries when it battles a listless De La Salle-Dasmarinas side in the Collegiate Grand Slam. Action starts at 7 p.m. following the 4:15 p.m. encounter between University of the East and Colegio San Agustin-Biñan. But the spotlight will be on the titular stage, which has been serving as the battleground of both Petron and F2 Logistics the past two years. Their first finals encounter was in 2016 when the Cargo Movers knocked the crown off the Blaze Spikers’ heads w to clinch the All-Filipino crown. The following year, Petron stacked its roster with quality players like Mika Reyes, Bernadeth Pons, Remy Palma and Sisi Rondina to engineer a massive comeback and regain the All-Filipino jewel. The Blaze Spikers, however, fell off the top the following conference when the Cargo Movers recruited Maria Jose Perez of Venezuela and Kennedy Bryan of United States as reinforcements to rule the Grand Prix. Then, Petron stormed back and dethroned

F2 Logistics, thanks to the arrival of Katherine Bell who replaced the injured Hillary Hurley down the crucial stretch of the 2018 Grand Prix, sparking talks that the Blaze Spikers were looking to become the first team to sweep the season. But the Cargo Movers didn’t allow that. F2 Logistics averted the plan with backto-back victories in the best-of-three finals of the Invitational Conference, prompting Petron to go back to the drawing board and plot its revenge in the All-Filipino Conference. The Blaze Spikers played with fire in their eyes as they posted 10 straight wins in the preliminaries followed by impressive wins over Sta. Lucia in the quarterfinals and Cignal in the semifinals to move two wins shy of winning the title. Again, F2 Logistics is standing on its path. “Our win over Petron depends on the hunger and willingness of my players,” said F2 Logistics Head Coach Ramil de Jesus, anticipating another war against arguably one of the most talented clubs ever assembled. “Our battle against them always goes down the wire. It won’t be easy. That’s why we will use the next few days to polish our game and prepare against them.” Petron Coach Shaq de los Santos said although they prevailed over F2 Logistics in their first meeting, it no longer matters as the Cargo Movers didn’t drop a single match since then. “They’re on a roll,” said de los Santos, whose team is also on the verge of sweeping the conference. “We have to do our homework and prepare for them because it’s really hard to stop a squad that is reaching its peak. The finals will be anybody’s ball game.”

Filipino IMs Garcia, Dimakiling back in contention in Asian chess tourney

THE Philippines’s Haridas Pascua (right) battles fellow International Master Novendra Priasmoro of Indonesia.

NTERNATIONAL Masters (IMs) Jan Emmanuel Garcia and Oliver Dimakiling downed Fide Master Stephen Rome Pangilinan and IM Angelo Young, respectively, to bounce back into contention after two rounds of the Seventh Asian Continental Chess Championships (Second Manny Pacquiao Cup) at the Tiara Hotel in Makati City on Tuesday night. Garcia, who made his World Chess Olympiad debut in Batumi, Georgia, a few months ago, and Dimakiling registered their first point to lead six other Filipinos in a 23-player group at 22nd place that included openingday winners IM Paulo Bersamina

and Haridas Pascua. The 20-year-old Bersamina failed to follow up on his shock win over third-seeded Grandmaster Le Quang Liem of Vietnam on Monday as he faltered against Grandmaster (GM) Nodirbek Abdusattorov of Uzbekistan to lose his grip of a share of the lead. Pascua, 25, booked his second straight draw, this time with IM Novendra Priasmoro of Indonesia, who has a higher Fide rating of 2483 compared to the Filipino’s 2442 in the nine-round tournament sanctioned by the National Chess Federation of the Philippines and bankrolled by Sen. Manny Pacquiao and the Philippine Sports Commission. The draw came a day after Pascua almost beat fourth-seeded Indian Santosh Gujrath Vidit and settled for a draw. Also posting their first point were IMs Daniel Quizon, Roderick Nava and Ricky de Guzman, and untitled Michael Concio Jr. In the women’s division, Shania Mae Mendoza halved the point with fellow Woman FM Aay Aisyah Anisa of Indonesia to nail her second straight draw. Mendoza, WFM Allaney Jia Doroy and WIMs Bernadette Galas and Kylen Joy Mordido were the best-placed locals so far with one point each. WGM Janelle Mae Frayna, the country’s top player, fell to WIM PV Nandhidhaa of India and was left with just half a point.

STOP BLAME GAME, FIND SOLUTIONS D

By Eddie Pells The Associated Press

ENVER—The report was every bit as thorough as it was cringe-worthy. And yet, when it was all picked apart and combed through, there wasn’t much new there. The 233 pages of details about how Olympic leaders and the FBI responded—or didn’t—to sex-abuse allegations against Larry Nassar was yet another entry in an endless exercise in looking backward to respond to a crisis that needs some new ideas before anything is truly fixed. Hampered by their own red tape and glacial pace in grasping the enormity of the issue, neither the US Olympic Committee (USOC) nor USA Gymnastics—or even Congress—has come up with any ideas comprehensive enough—beyond firing everyone and blowing up organizations—to turn this ship around. How was the report helpful? “By understanding the failures of the Olympic community, it will enable the USOC to take action to protect athletes in the future,” said USOC CEO Sarah Hirshland who, four months into the job, must wake up each day wondering what she got herself into. Bravo to her for doing something, anything, to try to move the ball forward. On Monday she swiftly canned Chief of Sport Performance Alan Ashley, whose name was added to the long list of good guys who, when faced with suspicions that young women were being molested, responded

as though the change-oil light had come on in their car instead of acting like it was people’s daughters in imminent danger. Last month Hirshland came off as bold by starting the decertification process of USA Gymnastics, which, as the report details, was an enterprise in which two people held all the power: Super-coach Martha Karolyi had carte blanche to do, or ignore, anything so long as she kept producing gold medals, and president Steve Penny was in charge of reporting the abuse (which he did, more than once) and also, as laid out in unflinching, unflattering detail, trying to keep it quiet. But the resoluteness of Hirshland’s move masked a more difficult set of questions: What in the world replaces USA Gymnastics? And to boil it down even further, what in the world is USA Gymnastics? What, for that matter, is the USOC? Nobody in the general public—the people who tune in every two years to watch dreams come true under the Olympic rings—knows, or really cares. What all those people should know is this: Even when the skaters and gymnasts and skiers and wrestlers leave with gold medals hanging around their necks, they are often the biggest losers, too—frequently short on cash and all but devoid of any power to control or improve their own working conditions. To the credit of Hirshland’s

Sports

predecessor—Scott Blackmun, who got predictably skewered in Monday’s report—the US Center for SafeSport came into existence on his watch, albeit five (25?) years too late and millions of dollars too short. Despite the hearings it has held and the promises for reform, Congress is proving to be clueless and too busy with other

things to effect meaningful change. Exhibit A: It recently approved $2.2 million in much-needed funding for the SafeSport Center, which is supposed to investigate every sex-abuse case reported in the Olympic sports space. But the money came with the caveat that none of it could be used for investigations. It’s the equivalent of handing the local fire department a couple of envelopes full of cash but telling them they can’t use it for hoses. What can be done, or improved upon, to help sports at the grassroots and elite levels: n Develop more easily understood and accessible standards for how to become a coach, and when, where and under what conditions coaches should be in contact with athletes. n Implement a more thorough and easily understood process for everyone—coaches, parents, athletes, clubs— to access a comprehensive list of bad actors who should not be anywhere near kids. n Provide more answers and training for parents, who give coaches the honor of molding their children

and shouldn’t ever feel reluctant to ask who their kids are with or what they’re doing. As the de facto leader of American sports, the USOC should oversee all that through its own programs, and through those it has entrusted to the SafeSport Center. It should place someone with good PR skills who is unafraid of the public spotlight in charge of it all. Sprinkled throughout the 233-page report are tales of gymnasts who, over the span of years, were too scared, too intimidated, too worried they wouldn’t be believed, to suggest anything was amiss at the Karolyis’s training center. Who had their back? No one at the USOC or USA Gymnastics. As a response, the USOC announced an initiative earlier this year to make it easier for athletes to cut through red tape and ask for help, whether it involves a simple problem in training or something as serious as reporting sex abuse. The announcement deserved more attention than it got. It represented an attempt—a rare attempt, to this point—to shift away from the blame game and present a real solution for a problem that cannot be solved simply by firing everyone.

GOAL! KYLIAN MBAPPE celebrates with teammate Neymar as Paris Saint Germain beats Red Star, 4-1, in a Champions League Group C in Belgrade, Serbia, on Tuesday. AP

BusinessMirror

ARY HARVEY is used to blazing the trail in sports. Despite growing up without major soccer tournaments to aspire to play in, the goalkeeper helped the US win the inaugural Women’s World Cup in 1991 and the first women’s Olympic soccer title five years later. “As a women’s national team, we didn’t set out to have wide scale impact, but we did,” Harvey recalled in an interview with The Associated Press. “From that I learned that that’s what I wanted my life to be about: the ability to impact others in a positive way.” Today, that desire has made her one of the biggest campaigners for human rights through sports. After starting her career as a consultant in the private sector, Harvey led development work at Fifa from 2003-08, helping formulate a human-rights strategy for the successful 2026 World Cup bid by the United States, Canada and Mexico. Now Harvey will be taking that strategy global by heading a new sports human-rights watchdog. “The language of human rights is not certainly the

| Thursday, December 13, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FROM SOCCER CHAMP TO HUMAN-RIGHTS LEADER language of sport,” Harvey said. “So I went through that personally and learned it [for the World Cup bid] and so I think the center has an opportunity to provide that.” Harvey is preparing to move to Switzerland from the United States to serve as chief executive of the Centre for Sport and Human Rights, hoping governing bodies adopt some of Fifa’s newfound commitment to making compliance on labor and discrimination issues central to whether a country can host a major event. The game-changer was Qatar winning the vote to host the 2022 World Cup and the subsequent focus on labor conditions for migrant workers, which led to the energy-rich nation being compelled to provide greater protections. Fifa made bidders for the 2026 edition own up to their human-rights risks and present a means of tackling them ahead of the vote this year. Fifa serves on the Centre for Sport and Human Rights’

advisory board among 41 organizations across sports, along with sponsors such as Coca-Cola and Visa. “In the future if people are bidding and they’re less than aggressive with what they want to do on the human right side, with maybe a smart box-ticking exercise,” Harvey said. “There should be accountability for that.” It’s about leveraging the power of a country chasing a mega sports event to encourage changes. “This isn’t a panacea for nation-building,” Harvey said. “We can exert influence.” That is necessary beyond major events, or highprofile teams. Afghan authorities suspended the head of the soccer federation and other officials this month after media revelations of allegations of sexual and physical abuse of female players. Harvey hopes the Centre for Sport and Human Rights can be an outlet for athletes, officials or

workers around sport to report wrongdoing and have their safety protected. “Human-rights defenders are targets,” Harvey said. However, the center still requires investment, she added. “We can’t operate with any sort of fear of what we say or do and how that affects funding,” Harvey said by telephone. “We have to be able to operate independently and provide a free service.” The center was launched in June and is chaired by former Irish President Mary Robinson, who has also served as UN High Commissioner for Human Rights. “We need to bring human rights more centrally into sport and make people involved in sport realize that they have to take responsibility and they have to work on many issues at so many different levels from the big stadiums to discrimination or racism or trafficking,” Robinson told the AP.

Using the center’s status, Robinson will be looking to secure greater protections for local communities impacted by sports events—such as the traders forced to close their stalls near World Cup venues, as Robinson complained to Fifa about during the 2010 World Cup in South Africa and 2014 edition in Brazil. “I hope they won’t exclude those who you know could actually improve their living by being able to trade around the stadiums and get the footfall on big occasions,” Robinson said. There are also concerns about how free labor can be relied on to operate events. “Volunteers can play a role,” Robinson said, “but not if it displaces the potential for people having jobs where the entities can well afford to give people the opportunity to have gainful employment rather than work as volunteers.” AP

Thai court extends detention of refugee sought by Bahrain

ANGKOK—A Thai court ruled on Tuesday that a soccer player who holds refugee status in Australia can be held for 60 days pending the completion of an extradition request by Bahrain, the homeland he fled four years ago on account of alleged political persecution and torture. Hakeem al-Araibi, who was detained on November 27 upon entry at Bangkok’s main airport, was denied release on bail during his court appearance. Thai officials said he was originally held on the basis of a notice from Interpol in which Bahrain sought his custody because he had been sentenced in absentia in 2014 to 10 years in prison

HAKEEM AL-ARAIBI fears being tortured if sent to Bahrain. AP MARY HARVEY: The language of human rights is not certainly the language of sport. AP

for vandalizing a police station, a charge he denies. He came to Thailand on vacation with his wife. Al-Araibi says he fears being tortured if sent to Bahrain. Australia, which granted him refugee status and residency in 2017, has called for his release and immediate return to his adoptive home. He had played for Bahrain’s national soccer team and now plays for Melbourne’s Pascoe Vale Football Club. He has been publicly critical of the Bahrain royal family’s alleged involvement in sports scandals. He also has alleged he was blindfolded and had his legs beaten while he was held in Bahrain in 2012. He said he believed he was targeted for arrest

because of his Shiite faith and because his brother was politically active in Bahrain. Bahrain has a Shiite majority but is ruled by a Sunni monarchy, and has a reputation for harsh repression since its failed “Arab Spring” uprising in 2011. Thai officials insist they are following the letter of the law in holding him, but rights groups suggest he should not have been detained because of his refugee status, and that international law to which Thailand is a party bars sending him to Bahrain if he has a legitimate fear of persecution and even torture. The court can extend the 60-day detention by another 30 days on application of the prosecutor’s office, but otherwise he is free to go if Bahrain does not finish its extradition application by then. Police brought al-Araibi into court in handcuffs. He complained to reporters that Thai immigration officials were working along with Bahrain, and pleaded, “Please stop them. Please stop them.” “I don’t want to talk to Bahrain,” he said. “I didn’t do anything.” Al-Araibi’s lawyer, Nadthasiri Bergman, said her 25-year-old client was “very sad.” “He’s terrified,” she said. “He doesn’t want to be extradited, obviously. He was very strong that he wants to go back to Australia from the beginning, but now he’s in this process.” In addition to Australia, al-Araibi has attracted support from Fifa, world soccer’s governing body. In a statement last week, Fifa urged that he should be returned to Australia “at the earliest possible moment” rather than be extradited to Bahrain. It said it now expects his case “to be solved in accordance with wellestablished international standards,” and has asked Australian soccer officials to urgently “take the matter up with their government.” AP

Happy Thanksgiving Day

EAR God, by Your Love and fidelity, O God, Thanksgiving Day is every day. You display Your glory and promise. Grateful for Your beautiful gifts, we pray: Show us Your loving kindness, O God. For migrants, immigrants and refugees, we pray. For those separated from their families, friends or community. For those who show us kindness, love, patience and generosity. May the Word of God dwell in us richly through faith, as we seek to live with gratitude and wholehearted love, not only on Thanksgiving Day through Christ, but all the days of our lives. Amen! JO A. SALDANA AND LOUIE M. LACSON

Word&Life Publications • teacherlouie1965@yahoo.com

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

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MOMMY NO LIMITS: ‘SANTA IS NOT REAL…O YE OF CHRISTMAS FAITH’ D3

Thursday, December 13, 2018 D1

How to up the spontaneity quotient on your next trip By Seth Kugel

New York Times News Service

OTHING against relaxing on beachfront daybeds or doing the cathedral-monument-museum circuit, but for travelers like me (and, I’m guessing, like some of you) the ideal vacation is one that combines relaxation and sightseeing with unexpected finds down narrow streets, lively conversations with surprising locals and wrong exits leading to hidden treasures. Alas, such experiences are not sold online. It takes good fortune to stumble across the Montana farm stand with the juiciest peaches imaginable, a Swedish farmer who invites you to his Beatles-loving friend’s home for music and whiskey, or the Albanian seaside restaurant owner who dares you to come back at 6 am to fish for the next day’s catch. Those are my serendipity-aided stories and you can’t have them, but it’s easy enough to create your own. Serendipity is essentially a synonym for good luck, but it’s hardly random. “The harder you work, the luckier you get,” golfers like to say. Good news for globe-trotters: No need to put in hours at the tourism range to lower your travel handicap. A few largely effortless adjustments can up your serendipity game.

VISIT ‘EM WHERE THEY AIN’T

YOU can’t force a local to chat, as I’ve found out on many uncomfortable bus ride. But you can stack the odds in your favor by visiting countries, regions or cities where you don’t have to. My top travel axiom: The fewer visitors a place gets, the more eager locals are to talk with them. To put it another way, you’re unlikely to befriend a Parisian who lives a block from the Eiffel Tower. (Unless he’s got skin in the tourism game: souvenir sellers worldwide are more than happy to be chummy.) Where crowds are sparse, or at least not Venicelevel oppressive, locals are often just as curious about visitors as visitors are of them. So wherever you’re itching to go, consider alternatives that may not be as flashy but have just as much to offer, minus the crowds. Sardinia over Tuscany; Kuélap, Peru, over Machu Picchu; Algeria over Morocco. You can apply the same principle within a popular destination. As a New Yorker, I instinctively flee from sidewalk-clogging clumps of tourists in midtown Manhattan. But across the East River in my culinarily blessed neighborhood of Jackson Heights, Queens, it’s a different story. When I recently spotted a youth group from the Midwest gawking at the South Asian shops and food stands on 74th Street, I practically pounced on them. Where are you all from? Why are you here? Where are you going next? How may I help?

PRACTICE DELIBERATE SPONTANEITY “MY vacation days are so precious. I can’t risk something going wrong, so I plan everything”: This is a common lament of the annual-vacation-starved US adult. Planning is crucial, I agree. But a tightly scheduled day does not preclude spontaneity. Consider your itinerary a rough draft, ready for modification if something piques your interest. I once abandoned a day trip to the Turkish city of Sanliurfa when I realized I was driving through

Luxury escapes for everyone

FROM left: Stephanie Zubiri, Wil Dasovich and Mikaela Lagdameo-Martinez

8990 HOLDINGS Chairman Mariano Martinez with 8990 Holdings President and CEO Willie J. Uy

pistachio orchards to get there and decided to turn off the highway and spend the day in a village seeking a farm tour. It worked. You hardly need to risk a day, though. Imagine you’re off to lunch at a fancy place that got raves in your guidebook when, on the way there, you pass a spot humming with locals. Time to ditch your plans. Even if the chef at the new place is not Michelinstarred (or perhaps not even a chef), sometimes a simple meal you don’t know is coming is better than a fancy meal for which you have sky-high expectations. Another strategy: For every five days of your trip, set aside one for planned spontaneity. In the city? Bury your phone in your backpack and explore a neighborhood blind or with a paper map, asking for advice along the way. In the country? Take a drive down a local road and stop whenever you see something interesting: a high-school baseball game, a yak farm, a bait shop. (Don’t fish? Then ask for directions.)

BE ON A MISSION

TO give some structure to your adventuring, come up with a nonserious goal that will add an element of fun and nudge you off the tourist trail. Make it your mission to find the best bookstore in town, try every brand of local candy or search for the weirdest ice-cream flavors. In England, declare that by the end of your trip everyone in the group must choose

By Jt Nisay THE grand idea started with one word. Property developer 8990 Holdings Inc. (HOUSE) recently announced that it is expanding its portfolio to the hospitality industry with a plan that is big on numbers. The company, through its new subsidary 8990 Leisure and Resorts, will be developing around 3,000 rooms across the country over the next five years with P5 billion worth of investments. 8990 Holdings Chairman Mariano Martinez said it’s a big dream they are confident of achieving. “Everything always starts with one great word: imagination,” Martinez said during the launch. “This move is our way of celebrating our country, from its wonderful and award-winning beaches to the breathtaking nature parks and reserves.” HOUSE has been running the tourism-focused, timesharing brand Azalea with two properties in Baguio and Boracay. Martinez said Azalea would be entirely separate from the 8990 Leisure and Resorts group, which will have three original hotel-and-resort concepts defined by the group’s commitment to offer luxury from the pinnacle of society all the way to the ordinary man.

a Premier League soccer team to root for when you get home. Locals will surely lobby for their club. In northeast Portugal I vowed to learn a few words of the local language, Mirandese. People were delighted to teach me—although, I imagine, not nearly so much as the English would be to talk about why their football team is superior.

SAY ‘YES’

the table next to mine how their fritti misti appetizer was. They gave me the rest of the plate. I asked a fellow customer in a South Dakota gas station if there was any difference between the pot of coffee she was pouring and the one she wasn’t. It was fresher, she said. I doubt it was and didn’t care anyway, but she turned out to be a fun Estonian exchange student with great stories of her journeys across America.

SOMETIMES an opportunity for a detour or a change of plans will arise that you (or your travel companions) might think is silly or a little nervewracking. Should we turn down that side street just to see what’s there? Should we get off at a random subway to stop and explore? Stop off at a supermarket to see what kinds of cereal they have? Attend that local community potluck we saw a flyer for? The answers are yes, yes, yes and yes. What do you have to lose if it goes well? The second museum or third monument of the day? And what if it doesn’t? You’ll be set back 15 minutes? There’s really only one good reason to say no to an idea: if it would put you in physical danger. Despite what you learned as a kid, “yes” is also the answer to: Should you talk to strangers? (At least when culturally appropriate.) I sometimes like to set a goal—to talk to five random people a day, for example. Then I ask any dumb question that comes to mind. At a restaurant in Naples, I asked the Italian family at

SEEK COMMUNITY

Three public personalities introduced each brand during the launch at Green Sun in Makati, where a panoramic screen gave guests a peak into the locations of the properties. WWF ambassador, writer and mother Stephanie Zubiri said at the core of everything she does are home and family. Her idea of a perfect family trip is an escape to a sanctuary where they can connect with nature in comfort. She said Adama offers exactly that. The brand is 8990’s five-star luxury family resorts to be nestled in the country’s most scenic spots, and designed to pamper guests with first-class amenities. Adama will have branches in Puerto Princesa, Boracay, Lapu-Lapu City, Siargao, Baguio and Siquijor. The one in Siquijor will open by the first quarter of 2020, during which a new airport will be operational. The 15-hectare property will offer 22 villas. Meanwhile, fashion industry veteran and mother of three Mikaela Lagdameo-Martinez shared what she looks for in a hotel for family trips: it should help her children know more about the country, and it should feels like a home away from home. Lagdameo-Martinez then presented the urban luxury brand Kura Hotels & Resorts. Designed with trailblazers in mind, the brand will operate in Cebu, Makati, Davao, Alabang and Manila. The final presenter was adventure-seeker Wil Dasovich, who

just landed from Iceland earlier in the day. Living by the mantra of “do something new every day,” he emphasized the importance of ending a day of adventure by going home to a safe space. Resident urban hotel Argo is 8990 Leisure and Resorts’ offer for travelers like Dasovich, being equipped with amenities and tools to help guests explore, discover and experience the best of the locale. Argo will be present in all of the locations of Kura Hotels & Resorts, with additional branches in Iloilo, Legazpi and Clark. Martinez said that 8990 Leisure and Resorts will be opening three to four hotels every year. It’s a pace that Martinez is confident of executing, given the parent company’s experience and success. “We build 12,000 housing units a year,” Martinez said of HOUSE, which saw a record-high net income of P3.4 billion in the first three quarters of 2018. According to Willie J. Uy, 8990 Holdings president and chief executive officer, one of the biggest factors in their decision to diversify into the hospitality sector was the upswing of the industry brought by tourism development. Meanwhile, Martinez said the new subsidiary is seen to build up the company’s recurring income; that in five years, they will be able to derive “at least 20 percent to 25 percent” of the company’s gross income from the subsidiary.

GREAT things also happen when your family or friends or friends of friends live in your destination. So seek out your Hungarian third cousins and the Vietnamese college roommate of your high-school prom date for a meal or tea or some advice. No connections? Search for clubs or groups or professional organizations in your areas of interest. Surgeons may seek to tour a local hospital; journalists a newsroom; police officers a precinct. There’s no harm in trying. It just takes a quick search for accountants heading to Barbados to find an e-mail for the ICAB (Institute of Chartered Accountants of Barbados, a real organization). The worst thing that could happen is nothing. Maybe you’ll score some great tips on beaches or night life or even make a friend. You don’t have to actually want to learn anything from the BSC (Barcelona Sweater Club, a made-up organization). You’re just looking for a way to make a connection.

Thursday, December 13, 2018

Entertaining BusinessMirror

A sophisticated update for a party favorite

Today’s Horoscope By Eugenia Last

By Florence Fabricant New York Times News Service

ERE’S an hors d’oeuvre to add to the repertory just as the demand to entertain ramps up: pigs in a blanket. Christian Leue—the manager of La Boîte, a spice shop in Hell’s Kitchen—has developed an effective recipe for quick and versatile puff pastry that’s perfect for the wrapped bites. Use the shredding disc in a food processor to grate a frozen stick of salted butter. Switch to the regular blade, add three-quarters of a cup flour and pulse until crumbly. Add a quarter cup sour cream and pulse until a dough forms. Knead lightly and shape into a flattened square. Refrigerate at least two hours. Sear 24 cocktail franks in a skillet, drain on paper towels and let cool. Roll the dough into a 9-by12 inch rectangle and cut in 24 pieces, each 3-by-1 1/2 inches. Place a frank across the dough strip and wrap it. Moisten the short edge of the dough with water, press closed and place on a baking sheet seam side down. Bake at 350 degrees for about 25 minutes. Makes 24 and can be doubled or tripled. Pigs in a blanket: an hors d’oeuvre to add to the repertory just as the demand to entertain ramps up. Christian Leue, manager of La Boîte spice shop in Hell’s Kitchen, has developed an effective recipe for quick and versatile puff pastry that’s perfect for the wrapped bites. MELINA HAMMER|THE NEW YORK TIMES

LIMITED-EDITION JOHNNIE WALKER ARTIST SERIES FOR THE HOLIDAYS

Take-home holiday platters MAKE the holiday season even more memorable with a delectable feast from Discovery Suites right in your own home. Savor a sumptuous take-home holiday platter that is perfect for family occasions and intimate gatherings. There are three different delightful sets to choose from. Each platter is good for 10 persons and price starts at P6,800. Orders for Roasted Whole Turkey and Rack of Prime Rib orders are also accepted. The Discovery Suites Take-Home Feast is available until December 31, and orders must be made at least a day before pick-up (discoverysuites. com/take-home-feast/).

CELEBRITIES BORN ON THIS DAY: Taylor Swift, 29; Jamie Foxx, 51; Wendie Malick, 68; Christopher Plummer, 89. HAPPY BIRTHDAY: Your words will travel far if you are articulate, honest and sincere. Don’t be afraid to show your emotions and to fight for the underdog. Take it upon yourself to be the one to make a difference and to set the record straight. Learn from your experience and deal with them here and now with positive thoughts and actions. Your lucky numbers are 7, 13, 20, 29, 38, 41, 47.

ARIES (March 21-April 19): Change begins within. Take a closer look at what you’ve faced and accomplished, as well as what you have left to do before the year comes to a close. Organization will help you enter into a new phase of life with optimism. «««

TAURUS (April 20-May 20): If something isn’t working for you, it’s time to make a change. Size up your situation and set your plans in motion. Let your heart and instincts guide you to a place that is comforting and less stressful. ««««

GEMINI (May 21-June 20): Confusion will set in if you let someone get to you emotionally. Don’t be afraid to question what others say about you or how you live your life. You are the one who has to live with the decisions you make. ««

CANCER (June 21-July 22): Express your true feelings and discuss future plans. Don’t be afraid to show emotion or to share your ideas and solutions. Communication will be your pathway to success and achieving the happiness you desire. Romance is highlighted. «««««

LEO (July 23-Aug. 22): Participate in events that require mental and physical expertise, but don’t allude to being able to offer more than you can. Living up to your word will be instrumental in how others perceive you. Strive to uphold your reputation. «««

VIRGO (Aug. 23-Sept. 22): Get out and enjoy the spirit of the season. Don’t forget to include the people you count on all year long for support. Memories are built through sharing experiences and showing how much you care. Romance is in the stars. «««

GOOD things may come in small packages, but when your gift is packaged in a limited-edition creation designed by a world-renowned graffiti artist known for his larger-than-life murals, then you can expect great things. Johnnie Walker (facebook.com/JohnnieWalker), the world’s No. 1 Scotch whisky, partners with Los Angeles-based graffiti artist Tristan Eaton to create four distinct designs that bring to life the flavor profiles and exquisite blends that Johnnie Walker is known and loved for the world over. “At its core, Johnnie Walker celebrates the craft and passions of individuals who continuously push the boundaries in their respective fields, echoing the brand’s thrust in creating new and innovative ways for our consumers to enjoy it,” says Cesar Gangoso, marketing director of Diageo Philippines, local distributor of Johnnie Walker. “We collaborated with esteemed artist Tristan Eaton on the new Johnnie Walker Artist Series gift packs which double as a collectible and a perfect gift idea for our loved ones.” The limited-edition designs are inspired by the unique flavors and aromas of the Johnnie Walker whiskies. The powerful and explosive flavor of the pioneer Red Label blend is brought to life by the imagery of flight and soaring to new heights. Classical art and modern architecture mixed with psychedelic patterns encapsulate the distinctly smooth and signature smoky taste of the iconic Black Label blend. The doubly intense and peaty smoke of the Double Black blend is symbolized by the imagery of a thundering stallion while its glittering and sparkly visuals bring to life the luxuriously creamy and the delicate taste of the celebratory Gold Label blend. It’s a great gift idea for your next Christmas party and a perfect reason to spend the holidays with your closest of friends.

Gilded scrummy gifts

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LIBRA (Sept. 23-Oct. 22): Share stories and attend events that will bring you in touch with those you haven’t seen for some time. A little laughter and commiserating will be good for the soul and help you put your life in perspective. «««««

SCORPIO (Oct. 23-Nov. 21): Don’t leave someone out because you think he or she is too young or too old. It’s important to share with everyone. The kindness and consideration you offer to others will not be wasted and will come back to you twofold. ««

i GRAND Hyatt Manila (facebook.com/ grandhyattmanilaph) brightens the holidays with a scrumptious list of treats carefully prepared as a gift or to share with family and friends. Go grand and gift loved ones with a Christmas hamper brimming with exquisite delicacies by Pastry Chef Saban Cavlak. Tailor your own hamper for a minimum order of P2,100 and choose from whimsical gingerbread houses, chocolate yule logs and Santa Clause, delectable Florentine cookies, and homemade stollen, to name a few. Your gift will be more memorable for its personalized touch. For an even merrier feast, preorder from a selection of savory dishes for the whole family to enjoy. The impressive culinary team of Grand Hyatt Manila will make sure celebrations are even more sumptuous and easier with its selection of savory dishes for preorder, such as traditional Christmas turkey, roasted porchetta, chicken bread, salmon gravlax and more. All that scrummy goodness should make this season even more merry and bright.

SAGITTARIUS (Nov. 22-Dec. 21): Check information thoroughly. Poor diagnosis of a situation can lead you on a goose chase. In order to make wise choices, you have to know what you are up against. Be prepared to make a sudden change if necessary. ««««

CAPRICORN (Dec. 22-Jan. 19): Emotions will surface in situations that require you to help someone in need. Embrace those going through tough times and offer hope along with suggestions. A change of heart will lead to a closer relationship with someone you love. ««««

AQUARIUS (Jan. 20-Feb. 18): Finish what you start and feel good about what you accomplish. Your hard work will bring about positive change as you head toward the new year. Keep secrets locked in a safe place. Don’t feel obligated to share personal information. «««

PISCES (Feb. 19-March 20): Listen but don’t respond if it will get you into trouble. Emotional matters will escalate quickly, and taking the time to think matters through is in your best interest. Romance and making a physical improvement should be your priorities. ««« Birthday Baby: You are strong, innovative and proactive. You are reserved and circumspect.

‘raking it in’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Blade cutter 6 Horn sound 10 Small anatomical sac 14 Maternally related 15 Poor? No, far from it 16 Child of fortune? 17 “Slow down on those leaves” 20 .001 inch lengths 21 One route to Europe 22 Much ___ About Nothing 23 Unexpected blessing 24 One way to fall 28 Incendiary substance 30 Pungent liquid or gas 32 Indonesian island 35 Auction assent 36 Do a fall chore in a convertible? 40 After dusk, poetically 41 Christmas tree decorations 42 PC input information 45 Start of a journey 49 “Tosca,” for one 50 Sawbuck halved

2 MLB crowd-pleasers 5 53 Warship with oars 56 Hobbled 57 What a newbie using a fall tool may do? 61 Way to turn the page? 62 Isaac’s first-born 63 Demeanors 64 Forbid 65 One gender 66 Mountain debris DOWN 1 Broadway legend Ethel 2 Lake in New York 3 Clobber 4 Pilots’ guesses 5 Comics’ “The Wonder Dog” 6 “Wonderful,” at 49-Across 7 Make comparisons 8 Excellent tennis server 9 ___ means war! 10 Miserly type (with “El”) 11 “___, though I walk ...” 12 A sib

3 Put forth effort 1 18 Dorm partner 19 Jets or Ravens, e.g. 23 Navy’s shade? 25 Film role for Jodie Foster 26 Very funny comic 27 Small amount 29 “Start the questions” 30 Jump shot formations 31 Cosmetic change? 33 Not much 34 Earth tone 36 Gather, as a harvest 37 Opening poker payment 38 Turn sharply 39 Guinness Book suffix 40 Tokyo, centuries ago 43 Major thoroughfare 44 Formal wear in India 46 Salt container 47 Mink relative 48 Fly in Africa 50 Savage and wild 51 Inspire profoundly

4 Agenda entry 5 55 Santa ___, California 56 Non-clergy 57 Boy on The Simpsons 58 Street abbr. 59 Barbie contemporary 60 Timmy’s twins?

Solution to yesterday’s puzzle:

Parenting BusinessMirror

Thursday, December 13, 2018

‘Santa is not real…o ye of Christmas faith’ FROM left: Meagan at 3 opening her Christmas gifts; Meagan at Rockwell recently with their nice Panda Christmas showcase; our family Christmas photo when Marcus was a year old.

MOMMY NO LIMITS

MAYE YAO CO SAY mommynolimits@gmail.com

WAS preparing my son for his exams this week, and one of the pointers was learning about Advent. I always thought I knew what Advent was all about. It was a time of preparation for Christ’s day of birth. But as I was doing his test paper, I valued how his textbook explained the history of how and why Jesus was chosen. It was not a random choice. It rooted from His ancestors’ great deeds, admirable humility and exceptionally strong faith. It made me remember the year that my son said, “Santa is not real.” Every year, since they were 2, I would always prepare gifts for my kids from Santa. When we arrived from our Christmas trip, the gifts would be waiting for them in their Christmas stockings so that they would never suspected they were from us. They would be small items like a comb and mirror set, or a small robot toy that could fit the stockings. When they got a bit older, I asked them to write a letter to Santa. 2016 was a bit odd. When I told my kids to write their letters, my son said, “Mom, Santa is not real. It’s only a costume.” He said his teacher told him that. I didn’t know what to say. I just kept quiet. I was debating whether to let this tradition go since my youngest was already 6. It gave me an idea. I decided

to let Christmas pass that year without putting a gift in each of their socks. When we got back from our trip, my eldest told me that Santa did not leave her a gift that Christmas. I told them that maybe Santa heard one of them express doubts about his existence. I told them maybe they should write a letter to tell Santa they still believed, and tell him what they wanted for Christmas. My daughter started writing. My son paused but decided to get a paper as well. What was my point? Was it about preserving tradition? Was it about extending my kids’ childhood a bit more? It was none of the above. When we were kids, I never had this Santa tradition. We had Christmas stockings for Santa but we always knew the gifts came from our aunts and godparents. My most favorite Christmas memory to this day was when my grandaunt surprised me with my very own yellow BMX bike complete with an electronic horn. She saw how excited I was everyday riding my hand-me-down red tricycle even after I’d gotten too old for it. In a way, she heard my wish and she granted me that wish. I wanted to drive two points to my kids. I wanted them to learn the lesson of “Active Faith.” There is a decision for our faith. If you choose to disbelieve something, it is also your decision to come back. No one can force you. Only you can see the sense in your choice. I see people disillusioned with their faith for many reasons. Sometimes people lose faith because of the evil supposedly religious people do to them. That’s hard to overcome. In the end, we need to acknowledge that it’s our faith, not theirs. It’s about how we find meaning to live with our faith; let others live with hiding their hypocrisies behind their religious posturings. Second, and more important, I wanted to use this situation to teach them humility and nonentitlement. As much as life gives us a lot of

blessings, I feel it is equally important for us to acknowledge them. When we fail to do so, I want my kids to know that blessings may go away. Our kids today enjoy so many gifts that they often feel it is the norm. They have grown up hearing “Good job!” most of the time. Like our parents, we do everything we can to provide the best for them. I believe part of what’s best is their recognition of all the blessings they have, especially the intangible ones. It is our role to point these out to them, lest they take these for granted. The worst that could happen is after we have provided our best as parents, our kids, as they grow older, feel they are entitled to it and, worse, entitled to even more. That Christmas, I was looking at nice gifts for my dad. My daughter asked me, “You prepare nice gifts for Kong Kong [grandfather in Chinese]. What does Kong Kong give you for Christmas?” It made me pause for a second, because our parents never gave us a Christmas gift since we were kids. I remember when I asked them about it back then, they pointed out they’d already provided everything we needed. And in all honesty, I got their point. My reply to Meagan’s question was: “Kong Kong gives me a chance to work and do what I love to do everyday. That is more than any Christmas gift I can ask for.” My daughter looked at me and kept silent. I knew she understood. Whether Santa is real or not, whether we are devout or not in our religion, I believe Christmas still merits the focus on actively acknowledging and seeking faith. It is a time to spiritually ask what we and the generations before ours have done to bear the state we have today. Hopefully the reflection brings utmost gratitude to the providential blessing. Or, if by any chance it triggers some jolt for wanting to change one’s course, not just for us but for our future generations, let this season fuel us with that strength of faith to believe, act and truly make things better.

Apolinario Mabini Awards for SM Group SM won 15 awards from the 29th Apolinario Mabini Awards, held recently at the Kalayaan Hall of Club Filipino in San Juan. The awards were conferred by the Philippine Foundation for the Rehabilitation of the Disabled (PFRD). The Apolinario Mabini Awards are given to professionals and organizations that have distinguished themselves in their chosen fields of endeavor, or have rendered outstanding services to people with disabilities. SM’s awards include: Silver for SM Seaside Cebu; Bronze for SM City Cabanatuan, SM City Clark, SM City Cauayan, SM City BF Parañaque; SM Stores in Sucat, Cabanatuan, San Jose del Monte, East Ortigas, Trece Martires; and SM Supermarket in SM Seaside Cebu. Special awards were also given to SM City San Lazaro, SM City Rosario and SM Store in Makati. Hans Sy, chairman of the executive committee of SM Prime Holdings, was also given the Mabini Presidential Recognition Award for his dedication and passion in promoting awareness and inclusion for persons with disabilities in the SM malls. SM Cares, the corporate social responsibility arm of SM Prime Holdings, leads SM’s program for persons with disabilities. It was conferred with the Apolinario Mabini Hall of Fame Award in 2015, for its exemplary program of promoting awareness, acceptance, accessibility and inclusion of persons with disabilities.

Watsons continues to give smiles through Operation Smile NOTHING can brighten a day like seeing the precious smile of a child. That’s why leading health and beauty retailer Watsons (watsons.com.ph) has been partnering with Operation Smile since 2013 in giving children born with cleft lip and cleft palate a chance to smile through free and safe surgeries. In the Philippines, an estimated of 4,500 children are born every year with this condition. Founded in 1982, Operation Smile is an international medical service organization that has provided hundreds of thousands of free surgeries for children and young adults in developing countries worldwide who are born with cleft lip, cleft palate and facial deformities. It is dedicated to improving the health and lives of children worldwide through access to surgical care. According to Operation Smile, nine in 10 children born with a cleft condition

could die due to a lack of access to safe surgery. Watsons shares the same passion and believes that through its partnership with Operation Smile, it can give smiles to these children and improve their lives and health. This year, Watsons is committed to help 400 children through its medical missions in Dumaguete, Iloilo and Tacloban. Additionally, Watsons encourages its customers to support the cause by encouraging them to do good and feel great. Customer who bought Watsons brand products until November 21 were able to donate to Operation Smile that will contribute to the surgeries of these children. Ongoing until December 26, customer can use Watsons Card or SM Advantage Card points to donate.

Royal Mail delivers: Postman, can you take this to heaven? LONDON—A seven-year-old Scottish boy who sent a birthday card to his father in heaven has received a heart-warming reply. A Royal Mail official responded to Jase Hyndman after seeing the card addressed: “Mr. Postman, Can you take this to heaven for my dad’s birthday.” The Royal Mail’s Sean Milligan wrote back, saying, “This was a difficult challenge avoiding stars and other galactic objects on route to heaven. However, please be assured that this particular important item of mail has been delivered.” Jase’s mother, Teri Copland, posted images of the letters on Facebook, which have been shared more than 260,000 times. Copland says, “I actually cannot state how emotional he is knowing his dad got the card.... You’ve just restored my faith in humanity.” AP

ROYAL Mail vans lined up at London’s largest sorting office Mount Pleasant. AP

Younger school entry could set stage for ADHD diagnosis By Carla K. Johnson The Associated Press

THE youngest children in kindergarten are more likely to be diagnosed with attention deficit hyperactivity disorder (ADHD) in early grades, a study shows, an intriguing finding for parents on the fence about when to start their child in school. The study found younger students, especially boys, are also more likely to be started on medications for ADHD and kept on the drugs longer than the oldest children. The medications are generally safe, but can have harmful side effects. “Doctors and therapists need to factor that into their decision-making,” said study coauthor Dr. Anupam Jena of Harvard Medical School. They should ask, “Does he really have ADHD, or is it because he needs six more months to mature? That extra year makes a big difference.” About 6 million US children and teenagers have been diagnosed with ADHD, which causes inattention, hyperactivity and impulsivity. The rate of diagnosis is climbing. The study, published on Wednesday by the New England Journal of Medicine, stemmed from a lunchroom conversation about “kindergarten redshirting” for a coauthor’s son. The term is borrowed from athletics and means waiting a year to give a child time to mature. “The parents were thinking about whether to hold their child back an additional year,” Jena recalled. That led the researchers to ask, “What happens to kids who are in the same class who are perceived to be different?” They used insurance claims to compare more than 71,000 students with August and September birthdays in 18 states with September 1 cutoffs. A child who turns 5 before September 1 can start kindergarten. If not, the child waits until the next year. An August birthday can mean a child is the youngest in class, while those born in September are the oldest. Overall, from birth to the first few years of school, the number of children diagnosed with ADHD was low. The researchers calculated that the rate of ADHD diagnosis was a third higher in August-born kids than in September-born kids, based on 309 cases among about 36,300 with August birthdays and 225 cases among about 35,300 born in September. There was no group difference before age 4; it showed up after school enrollment. The researchers also looked at asthma, diabetes and obesity rates and found they were the same for the August and September babies. And no other month-to-month comparison showed a sharp difference in ADHD. Finally, using insurance data for more than 400,000 children in all 50 states, the researchers looked at states that don’t use a September 1 cutoff and the effect disappeared. “They did so many careful [checks] to make sure of their findings. It was really striking it was so consistent,” said Dr. William Cooper, a pediatrics and health policy professor at Vanderbilt University in Nashville, who wasn’t involved in the research. Cooper said younger children can have more trouble paying attention, sitting still and controlling their impulses. Compared to other kids, they may look like they have ADHD. The study didn’t evaluate whether the children were diagnosed appropriately. The August-September difference could be a reflection of spotting actual cases of ADHD earlier in the August-born kids because of their early start to school, said Dr. Jonathan Posner, an associate professor of psychiatry at Columbia University Medical Center in New York. On the other hand, since there’s no lab test for ADHD, doctors rely on subjective observations from parents and teachers. A younger student may simply need time to catch up, but his immature behavior looks like ADHD and raises a teacher’s concern, said Posner, who wasn’t involved in the study. “The information we receive about a child has to be interpreted within a developmental context,” Posner said. “A four-year-old isn’t going to respond as well to academic challenges as a five-year-old.”

Show

BusinessMirror

D4 Thursday, December 13, 2018

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Cinema as nostalgia REELING

TITO GENOVA VALIENTE titovaliente@yahoo.com

S a little boy, cinema for me was that magic bulb at the corner of a house, a block away from my grandparents’ home in San Fernando, in Ticao Island. There was only one movie house in the town and, I believe, in the entire island. It bore a simple title “Lita.” There was no fixed schedule for the movies. One looked out to that big house at the far end of the street: If the bulb was lighted, it only meant one thing—there was a “Now Showing.” What is a celebration of 100 years without those great, grand movies? But then again, what becomes of a celebration when there are no more copies of the films of those bygone years? Memories could be enough but, thanks to the new technologies, we can remember, revisit even these old movies. For the cineastes, YouTube contains many of these movies mentioned. For months now, I have started viewing these old films—some for curiosity and mostly for research. In the end, I’m more assured that memories can be tricky and the collective memories can be quite disconcerting. One wonders what happens between the personal reminiscences and the social construction of the popular cultures around these films. Where does the image of ideal Filipina in Carmen Rosales come from? What makes a good performance in those periods? What was the notion of masculinity? Of chivalry, if ever there was? Talk of old movies and one comes up with two names: Carmen Rosales and Rogelio de la Rosa. The still photos and the extant copies of the many films they had made reveal two actors who were already mature when they started essaying those immortal roles of lovers. Rosales and de la Rosa defined the times with loves that were pure from the beginning, getting star-crossed in the middle, but reaching a lush and joyful resolution at the end. Impersonations of Carmen Rosales and Rogelio de la Rosa in contemporary revues and musical tributes always point to lovesick couple and maudlin romantic entanglements. Watching these films, however, I feel I’m stumbling upon quirky discoveries. The songs belie the dark sides of the story mainly again because, after many years, these songs are remembered as songs and not as element in a film with a sordid twist or a convoluted, impure conflict. “Ang Tangi Kong Pag-ibig” conjures a gilded era when love was loyal and women betrothed were virginal. But in the film of Rosales/de la Rosa with the same title, Rosales is a club singer with a past, running into the embrace of a pure man whose virility and wholesome image are default courtesy of a farm setting. Maalaala Mo Kaya is another vintage Rosales/de

la Rosa tandem which, when viewed again, reveals performances meant to be reviewed by students of cinema aesthetics. The dramatic scenes are over the top and almost embarrassing in their directness; the lines are florid. Delivered in the suave baritone of de la Rosa, the sweet nothings become paean to the manners and courtship of yesterdays either imagined or manufactured by the studios. Deserving of close-ups, Carmen Rosales can be childish and childlike, a waif and a wanton woman. Here in Maalaala Mo Kaya, she is a lovely and willing victim of love, eternally in tears until the last shot when she is assured her real love is back and will be hers forever. Yes, there is forever in the cinemas of Rosales and de la Rosa. In my new memory of Maalaala Mo Kaya, Dolphy is already in the picture. Strangely enough when we recall this film and talk about Rosales and de la Rosa, we rarely mention Dolphy as being an effective sideck, a scene-stealer really, in the film. Maalaala Mo Kaya was from Sampaguita and made in 1954. And, of course, featured in the film is Carmen Rosales singing the title song. Rogelio de la Rosa plays again a composer in this film. Much earlier, in 1946, the actor played the role of the composer of the Bikol song “Sarung Banggi,” in the film with the same title. In this film, de la

Rosa goes to the city, presents his song, becomes successful, is seduced by Rosa Rosal, and forgets— temporarily—that he has a sweetheart waiting for him in his hometown. The film, however, ends happily with de la Rosa’s composer going back to the village in time for Christmas Mass and his love, Mila del Sol. In Maalala Mo Kaya, Rogelio de la Rosa also plays a composer who goes to the city to sell his composition and, in the process, sells his body and soul to commerce and to Patria Plata, one of the unheralded female contravidas of the ’50s and ’60s. Mila del Sol is another matter in Sarung Banggi. The postwar moral code found offensive the scene where her character raises her skirt (a sarong really) up above the knee. This shocked the world then! In Maalaala Mo Kaya, Rosa Mia essays one of her favorite roles—the Mater Dolorosa. She goes blind, is operated on courtesy of the money of the woman who seduces her son, and is battered by the same rich woman played with such evil aplomb by Plata. Rosa Mia played roles beyond her age in many films. Very few people know that Rosa Mia directed films. She would direct Carmen Rosales in a film called Octavia. In Octavia, a story from the prolific pen of Pablo S. Gomez, Carmen Rosales plays an aging movie star, Hanna Quintos, who interrupts the rehearsal

and shoot of a musical scene by a new singing sensation, Octavia Moravia. As the new singer sings “Somewhere Over the Rainbow,” the diva of Carmen Rosales enters the soundstage reminiscent of the entrance of Margo Channing/Bette Davis in All About Eve. All venom and virago, Rosales/Quintos slaps Octavia and declares war on upstarts. Octavia is played by a very young Lolita Rodriguez, scheming and sensual in a contravida role. The conflict between the two escalates until Octavia and Hanna have another confrontation. This time Hanna Quintos has a gun and shoots Octavia Moravia. Patria Plata playing the role of the scorned woman also has a gun in Maalaala Mo Kaya. Women in those films of the fantastic ’50s had guns! One can enjoy Carmen Rosales in Octavia as she sings “Somewhere Over the Rainbow” and “So In Love.” In the period of dubbing, the voice of Lolita Rodriguez also singing “Somewhere Over the Rainbow” remains an interesting question. There are more questions about the films in those periods. I still don’t have answers. I am certain though I would find more films like I did, as a young boy, hopeful for that yellow bulb to light the edge of the magnificent, magical Lita Theatre seen from my grandparents’ home in Ticao.

Araneta Center welcomes holidays Michelle Obama surprises Detroit students at Motown Museum with car and magic shows By Mike Householder The Associated Press

THIS holiday season, the Araneta Center is giving loyal patrons all the reasons to shop, dine, enjoy and win. After lighting its iconic giant Christmas tree and bringing home the animated Christmas on Display to its true home, the Araneta Center will be giving away a brand-new Peugeot car via its “Car of Your Dreams Christmas Promo,” which is ongoing until February 3, 2019. Whether you are shopping for Christmas gifts, holding get-together dinners in any of the various restaurants, or catching the latest movies in Araneta Center, you have the chance to win the Peugeot 308 HB Allure. Every P1,000 single receipt purchase from any Araneta Center

establishment (Gateway Mall, Ali Mall, Farmers Plaza, Farmers Market, Coliseum Circle restaurants, New Frontier Theater Arcade, Telus Arcade, Cyberpark Tower 1, Shopwise Arcade restaurants, Araneta Center Bus Station and BusPort, Manhattan Parkway, Manhattan Parkview and Manhattan Heights Arcade, four tickets from the Gateway Mall Cineplex or Ali Mall Cineplex), or single or accumulated receipt purchase worth P1,000 of any Petron products entitles a customer one raffle entry. The draw is scheduled for February 4, 2019. More information is available at www.aranetacenter.net. For families and groups of friends looking for exciting entertainment this holiday season, the Smart Araneta Coliseum will host—for the first time—the world-renowned Magic On Ice. A show that combines the speed, elegance and power of ice skating with big, theatrical magic illusions, it is a Christmas treat for kids from 2 to 92, so to speak. To be staged at the Big Dome from December 25 to January 1, 2019, tickets are selling fast over Ticketnet outlets (www.ticketnet.com.ph). Magic On Ice ticket buyers are also eligible to join the “Car of Your Dreams” promo by showing their tickets worth P1,000 and up to any redemption booths.

DETROIT—Michelle Obama surprised a group of Detroit college students on Tuesday afternoon, walking into the Motown Museum as the young men of color took part in a roundtable on education. The former first lady was greeted with smiles, looks of astonishment and applause after entering the second floor of the building where Berry Gordy created sonic history more than a half-century ago. She hugged her brother Craig Robinson and Keegan-Michael Key, an actor and native Detroiter who moderated the discussion that was organized by Obama’s Reach Higher initiative.

“This was supposed to be for boys only,” Robinson said after they sat down, eliciting laughter from his sister and the more than a dozen students from nearby Wayne State University. “What’s going on,” Obama then asked, echoing the title of Marvin Gaye’s classic Motown tune. “We’re just talking about education,” Key answered, before mock-asking if it would be OK with them if Obama sat in on their chat. Obama listened as the students spoke about their experiences in life and school and encouraged them to practice “discomfort” and not be afraid to try new things. “Universities are looking for and should be looking for a diverse array of experiences,” she said. “People who

come from different backgrounds, because if everybody looked the same and experienced life the same way what would these conversations be like? Just a bunch of people agreeing with each other.” Obama was in Detroit as part of her book tour, which had a nighttime stop planned at Little Caesars Arena, home to the NBA’s Pistons and the NHL’s Red Wings. The tour is in support of Obama’s best-selling memoir, Becoming. The museum is located where company founder Gordy launched his music empire. The label started in 1959, and scores of stars and hits were created before Motown relocated to California in 1972. The label will mark its 60th anniversary next year.

‘Art 2 Art’ airs Christmas specials ART 2 ART has lined up a series of Christmas specials offering ideas, inspiration and insight in keeping with the spirit of the season. Produced by the Manila Broadcasting Co. and hosted by “Ballerina ng Bayan” Lisa Macuja, Art 2 Art airs every Sunday, 3:30 pm, on radio via dzRH (666 khz on the AM band), on cable television via RHTV, and livestreaming at http://dzrhnews television.tv. The show may also be viewed via the Facebook account dzRH News Television. On December 16, the episode focuses on Hangad, a group of friends bound by their desire to know and help others know God through music. Representatives Mariel de Jesus, KC Lawenko and Kiko Angeles talk about the history of the 27-yearold group, and are later joined by fellow members to sing selections from their new Christmas album. On December 23, Ballet Manila’s Joshua Enciso, Brian Sevilla, Rafael Perez and Alvin Dictado—big winners at the recent CCP Ballet Competition—discuss why boys like them are now more open to a career in dance, and the strict training it takes to be good at it. The four also perform an improv piece set to the Christmas song “Pasko na Sinta Ko.” The Christmas series wraps up on December 30 with an episode on art as therapy. Cancer survivor Jingjing Romero shares how painting helped her in her post-surgery recovery, leading to a sold-out exhibit benefiting seminarians. Diselle Falcon, meanwhile, recounts how surviving leukemia inspired her to establish A Stroke of Hope, a foundation that brings the healing power of art to cancer patients who are undergoing treatment. Past episodes of the program may be viewed on YouTube at the Art 2 Art with Lisa Macuja channel.

ART 2 ART host Lisa Macuja with Ballet Manila boys (from left) Alvin Dictado, Brian Sevilla, Joshua Enciso and Rafael Perez, who all won in the recent CCP Ballet Competition.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, December 13, 2018 E1

Czech envoy writes a lasting legacy in PHL

By Recto L. Mercene

@rectomercene

RAGUE, capital city of the Czech Republic, lies deep in the heart of Europe—half a world away from the Philippines. And yes, the goodnatured Ambassador Jaroslav Olša Jr. loves to point out that one of his country’s beloved creations have always been in our midst. “In the main room of Malacañang are chandeliers produced in Czechoslovakia in 1937,” he said, and added that any hotel or resort in major cities in the archipelago today are adorned with the colorful and splendid pieces of glass: “You don’t say ‘chandelier’ anymore, [but rather,] ‘glass sculptures.’” (Czechoslovakia used to be part of the Austro-Hungarian Empire. It was split into two independent countries on January 1, 1993; thus, the creation of the Czech Republic and Slovakia. Czechoslovakia itself had been formed at the end of World War I, following the collapse of the aforementioned empire. Before WWI the region consisted of Bohemia and Moravia—often called the Czech lands—in the west, and Slovakia—a part of Hungary—in the east.) Explaining the Czech Republic’s

role in the world, the envoy mentioned about their membership in the European Union, “which is positive and fortunate for us. We are in the heart of Europe, and the peace in the continent is important for us.” He shared that his country is worried about the ongoing trade war between the United States and China, “because we are one of the economies supporting free trade in all possible ways. And of course, we are also concerned with Brexit.” Olša explained: “We have tens of thousands of Czech citizens living and working in the United Kingdom.” This is because Britain is an important trading partner of his country, “and the fact that Germany is the most important trading partner of the Czech Republic. Brexit might also somehow harm the German economy, and it could

immediately [affect us].” “If the German economy starts coughing, we’ll have serious problems,” he noted. “That’s one of the important things of how interactive we are; but also, we are traditionally a trading country.”

‘Bit different’ beer

ONE of the main tasks of an ambassador, he said, is to promote his country’s main export products. So Olša revealed, during a BusinessMirror Coffee Club forum in November, that he is introducing a premium brand of beer in the country called Pilsner Urquell—“the original pilsner.” The name of their iconic drink was from the Bohemian city of Pilsen, where it was first produced in 1842. Olša said in jest that they do not wish to challenge the local brand known throughout the world, but “we’d love to give you Czech beer, because you’ll find it is great, and you can believe and trust it.” “We [actually] brought two major Czech beers in the Philippine market; the other one is Budvar,” which is sold locally as Czechvar because of some legalities involving the American Budweiser brand that took over the trademark from Budvar a century ago. Surveys, according to him, had shown that many travelers have attained a status that they are able to afford premium beer: “It’s quite important that people have a variety, so we open the market for a specialized brew; something a bit different.”

The Czech Republic actually has a long, colorful history and despite its relatively small population of 10.8 million citizens (compared to Metro Manila’s 12.8 million). The country is known for its heavy industries and manufacturing prowess, aside from the many inventions its citizens had produced.

Cars, computer parts

THE third Czech product the ambassador wanted to be present in Philippine showrooms is their automobile brand Skoda, which is sold in more than 100 countries and in 2017, achieved total global sales of 1.21 million units. Olša claimed, “One of the most important products of our country are cars. We are the second-biggest producer in the world, per capita.” Skoda is now being produced at 1 million units a year in factories in Czechia (another name for the Czech Republic), Slovakia, Kazakstan, India and China. Another brand he hopes to find a niche in the sport-utility vehicle market is Kodiaq, “an SUV with a very competitive price.” It will be powered by Volkswagen-group gas and diesel engines. As an economic juggernaut, he pointed out Czechia’s other products such as hydro-energy plants. “There’s a couple [in Mindanao and in] Northern Luzon,” he said, and added that in the last 100 years, they have been producing Kaplan, one of the most important and still

widely used turbines in the world. It was developed in 1913 by Austrian professor Viktor Kaplan. Posted in the country during the last four-and-a-half years, Olsa said trading volume between the two countries “has increased tenfold in the last 25 years. That means our present trade is close to $500 million, and that the Philippines is a country we’re interested in.” Interestingly, he said the balance of trade is in favor of the Philippines, because its export to Czechia is higher than what we import from them. “That means you are more successful in bringing your products, like computer parts and all the usual related things, into [my country].”

Bookworm, bibliophile, writer

AUTHOR of books and articles on history, culture and literature of Asia and Africa, the Czech ambassador will soon end his four-and-a-halfyear tour-of-duty. “There was a time as teenager when I was reading one book a day— which was quite crazy—but it really gave me a chance to evaluate, and I know so many things: [from mountaineering], to the history of the Medieval Ages. The love of books is with me all the time; and wherever I go, to every country, one of my first visits is to the book shop.” During his early days in Manila in 1994 he would find himself at Solidaridad, F. Sionil Jose’s bookshop in Ermita, Manila. Back then he remembered strolling along tree-

lined streets: from Intramuros, then Padre Faura, and back to Ermita. Olsa spent the next hour looking at shelves of books, “very badly produced and darkish paper; not nice covers,” he recalls. Then he bought a couple of the paperbacks and brought them back to his hotel. “And I still remember the titles.” He and the bookstore owner eventually became close friends. “Since I landed here the first time 24 years ago in April 1994, I still go to Solidaridad. When I come back one day, I will go [there] and hope it will [still be operating,] as it was over the last quarter of a century.” After having read through thousands of short stories by Filipino writers, the envoy had finally completed an anthology comprising 40 short stories by the same number of authors. He avoided reading Filipino classics, though, but only accommodated auteurs “born after World War II, or those who were active in the last 25 to 30 years.” The Czech ambassador-author was in constant touch with the Komisyon sa Wikang Filipino as he prepared the anthology of contemporary Philippine writing, but said: “It is not yet published because I’m lazy, and I haven’t finished my introduction, which has become longer and longer. I will have to eventually finish it, and hopefully [it well get] published in the second quarter of next year.” Continued on E2

Envoys& BusinessMirror

E2 Thursday, December 13, 2018

Poetry Jukebox: A revolution in public space

NVEILED as a new art installation in the heart of Bonifacio Global City, passersby can witness a live recital of Filipino and Czech poems along High Street, now a permanent home of the Poetry Jukebox.

KOBZA, the innovation’s inventor

This ingenious Czech concept that aims to make public spaces around the world livelier and give voice to public art by playing poetry on demand has been installed in public spaces around Europe, Israel and most recently, in New York.

Now it is ready to bring the magic of poems to Taguig City—the first in Asia that will enjoy listening to Czech and local verses featured in the invention. The Czech Embassy in Manila, which worked in cooperation with

AMBASSADOR Jaroslav Olša Jr. (from left), Ondřej Kobza, Taguig City Mayor Lani Cayetano and National Commission for Culture and the Arts Chairman Virgilio Almario TILAK HETTIGE

OLŠA and Almario inspect the Poetry Jukebox

Bonifacio Art Foundation, the Poetry Jukebox—first of its kind in the Philippines—was installed in a ceremonial unveiling in November at Greenspine Park, across the Mind Museum. According to Ambassador Jaroslav Olša Jr., who was behind the idea, the Poetry Jukebox will be donated as a gift to the people of the Philippines to permanently mark the 100th anniversary of independence of the modern Czech state in 1918. The significance of this activity is echoed through the Poetry Jukebox’s main message of making the spaces public, and placing the ownership of these places to people. The project also allows passersby to stop in their daily rush, listen to poems for a while and rediscover the beauty around

Filipino writer Sarge Lacuesta carefully selected the pieces and also produced the recording of all poems, voiced by him, Indra Cepeda, Co, Katigbak-Lacuesta, Pastrana, Lourd de Veyra and Yuson. On the other hand, Czech poetry is represented by poems of Ladislav Seifert, Vítězslav Nezval, Antonín Sova, Václav Hrabě, Jiří Orten, Fráňa Šrámek and Jan Křesadlo, to name a few. “Progressive poetess” Eleni Cay represents Slovak poetry. Co and Almario, chairman of the National Commission for Culture and the Arts, translated them to Filipino. Both were also present during the Jukebox’s public introduction. Its inventor, cultural activist and “change maker” Ondřej Kob-

them through a mystic experience of poetry coming to them in the “non-poetry age.” Another “reason for being” of the Poetry Jukebox is the rehabilitation of poetry by bringing Czech and Filipino poems back to the people and showing them that poems are charming and inspiring parts of one’s culture and heritage. For this project, a huge number of creative people from Manila were brought together to feature 20 poems by Czech, Slovak and Filipino poets who delivered the poems in English and Filipino. Featured poems are from notable Filipino authors, namely Gémino Abad, Virgilio Almario, Mikael Co, Joselito de los Reyes, Mookie Katigbak-Lacuesta, Jerry Gracio, Allan Pastrana, Ildefonso Santos, Rolando Tinio and Alfred Yuson.

za, has initiated a large number of cultural interventions in the Czech Republic and around the world. By installing pianos and chess tables in the streets, dusk concerts inside post offices, literature readings inside city courtyards, or tango dancing lessons in train stations, he is motivated to change urban spaces into art works and introduce a new paradigm of social interaction through cultural interventions in the public sphere. As Kobza said: “The Poetry Jukebox is a bottom-up approach to urbanism, as opposed to the traditional top-down strategies. I hope that it will gain popularity among the peoples of Taguig City and Metro Manila.” To know more about the Poetry Jukebox, visit www.thepoetryjukebox.com.

Czech envoy writes a lasting legacy in PHL Continued from E1

In his capacity, he tried to promote the Czech cultures to Filipinos, “like film festivals, exhibitions, literary projects [and the like].” But the most interesting, he said, is tourism promotion.

Travel and tourism

AT the moment there are no direct flights from any Philippine airport to Prague (which urban legend says, was untouched by bombings of the Allied Forces in World War II because it was too far for UK bombers to reach. However, according to American pilots, the capital was mistakenly bombarded toward the end of the war “as a result of a navigation error”). Which explains why the city has retained its unique charm and unrivaled beauty as the home of many original castles, verdant gardens, baroque churches, ageold museums, cultural landscapes and enchanting villas. It has 12 Unesco heritage sites, which are visited by some 30 million tourists a year. To get there from Manila, one can fly to Istanbul, Dubai or Doha to Vienna, the nearest capital and Prague’s virtual “twin city,” before getting on a train to the Czech capital. “The best combination is to fly to one city in Europe, and go by train to Czechia from Austria, which has a similar history and everything in between,” Olša volunteered. During our interview he revealed that 15 years ago, “virtually nobody had an idea of what the Czech Republic is, except for the Santo Niño of Prague,” and added that Filipinos, Spaniards and Latin Americans are fond of visiting the revered statue. The envoy discoursed about other attractions, such as the German town of Leitmeritz (Czech: Litoměřice), some 64 kilometers northwest of Prague, where Jose Rizal’s long-time friend Ferdinand

Blumentritt lived. There’s also the only Filipino shop in Prague, appropriately named “P-noy.” Ideally, Ol Š a would suggest that Filipinos wanting to go to the Czech Republic should try “going to two or three more nearby places, such as Warsaw, Salzburg and Vienna, then eventually end in Budapest.” He said some 25,000 Filipino tourists come to the Czech Republic annually. “It looks like a very small number, compared to the 400,000 Koreans or 500,000 Chinese, but it’s a significant number, and you’ll see more and more Filipinos going there.” Coming in the opposite direction are his fellow citizens, but rues that the main obstacle is the absence of direct flights. However, Emirates has just opened up the route from Turkey, as well as Turkish Airlines and Qatar Airways, “which have changed the picture. And now Manila is accessible to Czech citizens. With the advent of long-range flights, there would be direct [access] to an area in Europe near Prague.” He went on to say: “Let’s hope ‘Build, Build, Build’ will bring some success, and [that] something will be done: new airports, new highways, [as well as] new interconnections, since the nonexistence of these are blocking the influx of tourists.” This reporter asked: “What would a Czech citizen expect doing or seeing by coming to the Philippines?” Ol Š a intimated they like diving and sunbathing, but there’s actually more to those: “[We] are people who want to travel, as well as ‘find and see’ places. That means for Czechs, the Philippines is not solely beaches or the sea, but more like a combination of all.” The diplomat cited the example of so-called Viking trips to the provincial-island of Bohol, which

he says are a perfect combination of seeing many spots within short distances of one another. “You can see churches, tarsiers, the Chocolate Hills, islands and do sunbathing. It means [one] can very easily travel on bike, and the Czechs are not worried of [the dangers] of biking.” If sunbathing is all what Czechs look for, he said it would be very easy to go to Bali in Thailand because of the existing air connections, “but what is more important [to us is to show] the Philippines’s historical sites, which in a way are very similar to [those in Czechia.]”

Tracking PHL development

ENGAGED in various ways to help lift the quality of life of the poor in the island of Samar and elsewhere in the country, the envoy, who finished International Relations and Comparative European Social Studies at the University of Amsterdam, has been tracking the Philippine’s economic development for the last quarter of a century. “In the 1990s the Philippines was quite ‘grayish,’ with not much movement going on; with very few shops. But today the rise of the country is undeniable and incredible, and I see it in our trade and in our companies, who were practically not interested in the Philippines as they are now.” The diplomat challenged us to look at the major newspapers, and we would see the many Czech brands in the market, “which I will count to tens and hundreds a year.” Among them are firearms and armaments. He said one of these guns had been used by the Philippine military for decades, “and one of the favorite globally.” In this sense, he said defense cooperation is another area where the Czech Republic would like to explore. “We see that the important task of your government is to safeguard your coastal areas, and we’re working with the Depart-

ments of Transportation and Defense to bring small aircraft for coastal defense.” He said their sur veil lance planes are used by many air forces across the globe, such as their subsonic-training aircraft. He said those are ideal for coastal patrol requiring extended flights at low speed “to watch out for what is happening below” (which puts into mind the patrols needed to survey the West Philippine Sea). The Czech Republic also supplied the original coaches for the Metro Rail Transit 3 (MRT 3) under Japanese contractor Sumitomo. Ol Š a underscored they will rehabilitate the coaches “and in two years we will see the [trains] coming back into operation as it was in the beginning.” “I say it all the time: The fact that the Czech trains are still in operation 21 years after, with many years of ‘problematic maintenance’—using diplomatic terms—shows that it’s a good technology; it survived.” He added that if the rehabilitation of the coaches is being done viably and financially, “they can operate for the next 20 years.”

Leaving a legacy

OLŠA will also leave a legacy that includes visiting the country’s most remote places to uplift the lives of the “poorest of the poor” in Samar, Leyte and parts of Mindanao through Czechia’s nongovernment organization People in Need. After saying his final goodbye at a reception marking the 100th anniversary of the Czech state, the diplomat said his stay here was “amazing! The Philippines is really, truly perfect.” “Diplomacy is an industry full of pauses, and a lot of people marking their experiences and stories see more than they actually are because, I believe, ambition is not a dirty word; it’s just believing [in] yourself, your team and your abilities.”

THE memorandum of understanding on the project implementation was signed on December 7 by Ambassador Jaroslav Olša Jr. (right) and Build Change Country Director Kate Landry. EMBASSY OF THE CZECH REPUBLIC, MANILA

Czech Republic aids rehab for North Luzon settlement

HE gover nment of t he Czech Republic is donating more than P6 million for the rehabilitation of the settlements in the areas of Luzon drastically hit by Category 5 Typhoon Ompong in September 2018. The six-month project will be implemented by the local branch of the US-based nongovernment organization Build Change in the areas most affected by the typhoon, particularly the Cordillera Administrative region, Cagayan Valley, Central Luzon and the Ilocos region, where Ompong damaged vital infrastructures, homes and crops used for household consumption and for livelihood. Build Change, supported by the Philippines’s Shelter Cluster, will collaborate with affected communities and organizations carrying out shelter repair and rehabilitation programs by providing them with training and technical assistance to strengthen and improve the structural performance of houses affected by Ompong. According to the Embassy of the Czech Republic in Manila, the approach is highly cost-effective that leverages on the resources

that the communities and organizations spend on shelter recovery, shifting the response from risky to resilient. Thus, houses affected by Ompong will not only be strengthened, but also able to better resist future disasters. Ambassador Jaroslav Olša Jr. said: “Czech people sympathize with those affected by natural disasters in the Philippines. Immediately after the devastating Typhoon Ompong hit Northern Luzon, the Czech government expressed its readiness to provide assistance. We have identified Build Change to implement our vision of making the vulnerable houses made from lightweight materials more stable and further resilient to disasters.” The Czech Republic had already provided its humanitarian assistance to the Philippines in the past. In the aftermath of Typhoon Yolanda in 2013, the Czech Republic provided humanitarian aid worth P17 million to the most devastated regions of Eastern Visayas. In 2016 the European country financed a project of the Ateneo de Naga University that focused on assistance to affected Bicolanos by Typhoon Nina.

&Expats

envoys.expats.bm@gmail.com | Thursday, December 13, 2018 E3

Return of the Balangiga bells to PHL soil In the secretary’s words, “all wars end,” and it was time to heal a wound that had strained the US-Philippines relationship for too long.

Expressions of support THE US PERSPECTIVE

Amb. Sung Y. Kim

(This piece was written on Monday, December 10—a day before the Balangiga bells arrived in the Philippines.)

N Tuesday, a United States Air Force plane bearing three historic bells from San Lorenzo de Martir Church in Balangiga town of Eastern Samar will land at the Villamor Air Base. These bells were taken 117 years ago. It will be my honor to return them. Their safe return is thanks to the efforts of US Secretary of Defense James Mattis, supported by President Donald J. Trump, and is driven by respect for the Philippines: our friend, partner and ally. It has been a long road home for these bells, which were caught up in the aftermath of the tragic conflict that raged across this archipelago at the turn of the last century. The

US Army’s 9th Infantry Regiment, whose C Company was garrisoned at Balangiga, returned with one of the bells to its home garrison in Sackets Harbor, New York. This bell followed the regiment to subsequent assignments, most recently residing at a US Army base in South Korea. The two other bells were sent to Fort D.A. Russell in Cheyenne, Wyoming, with the 11th

AMBASSADOR Sung Kim (seventh from left), together with US and Philippine government officials at the arrival ceremony of the Balangiga bells on Tuesday @USAMBMANILA TWITTER ACCOUNT

Infantry Regiment, where the bells were displayed as part of a memorial to fallen US service members.

Laboring for their return

GOOD -HE A RTED indiv idua ls and groups labored for decades to bring the bells home. Former presidents, Cabinet secretaries, Philippine and US ambassadors, historians, philanthropists and many others worked tirelessly to raise awareness of the history of the bells and to advocate for their dignified return. Others viewed the bells in a very different light. In the state of Wyoming, some US military veterans expressed their belief that the two bells housed there were an integral part of a war memorial that should not be deconstructed or disturbed. In the fall 1999 the

US Congress passed legislation that made it unlawful to remove the two bells from the memorial on the base, challenging efforts to lobby for their return. The turning point in this century-long saga came in October of this past year during the 2017 Asean Defense Ministers Meeting in Clark. Secretary Mattis met with Defense Secretary Delfin N. Lorenzana to discuss security cooperation and opportunities to further strengthen US-Philippine defense relationship. In the said meeting, Lorenzana raised the issue of the “Balangiga bells.” Later that day in a meeting with President Duterte, Mattis stated definitively that it would be his personal initiative to find a way to return these religious artifacts.

FOLLOWING this important meeting, I maintained direct communication with the secretary and my colleagues, and I worked with his outstanding staff to ensure the bells’ swift return. In Washington, Mattis sought legislation that would make it legally permissible to return the bells. Members of Congress and senior officials in the Department of State and National Security Council endorsed returning the bells. The American Legion and Veterans of Foreign Wars both passed national resolutions supporting the bells’ return. These u na mbig uous e x pressions of support clearly demonstrate the special bond veterans and the US public share with the Filipino people. On August 9 Mattis announced his intent to return the bells, which began a legally required 90-day waiting period. On November 14 the secretary traveled to F.E. Warren Air Force Base and, in a solemn ceremony, officially informed Philippine Ambassador to the US Jose Manuel Romualdez that the bells would at last be returned to the Philippines. At the culmination of his moving

speech, Mattis turned to Romualdez and asked him to “bear these bells home, back to the Catholic Church, confident that America’s ironclad alliance with the Philippines is stronger than ever.” And so the bells began their journey home. This decision to return the bells is consistent with our values and overwhelmingly viewed as the right thing to do. From World War II to today’s struggle to defeat ISIS and the scourge of terrorism, our militaries have fought together, bled together, and at times died together. As your ally and friend, we will forever honor and respect this shared history.

Investing in the future

TODAY, we do not focus on looking back, or relitigating a painful chapter in our past, but investing in our shared future. In Mattis’s words: “In returning the bells of Balangiga to our ally and our friend, the Philippines, we pick up our generation’s responsibility to deepen the respect between our peoples.” Ours is a close friendship, and we do not take it for granted. Strengthening and maintaining it requires sustained commitment and investment. To these bells—the bells of San Lorenzo de Martir—welcome home. We wish you safe onward travel to Samar and your church in Balangiga.

Mexico awards an outstanding Filipino with the Aztec Eagle LA VOZ DE MÉXICO

Amb. Gerardo Lozano

PHILIPPINE-MEXICO Business Council President ad honorem Juan Carlos del Rosario (second from left) and Ambassador Gerardo Lozano (second from right) at the former’s conferment of the Mexican Order of the Aztec Eagle

of his lifelong efforts to broaden the commercial relationship of both countries, he led two business delegations as a founding member of the PMBC, in the frame of the state visits undertaken by former presidents Fidel V. Ramos and Gloria MacapagalArroyo to Mexico. Recently the awardee has shown his commitment in supporting social initiatives that increased awareness of Mexico in sports and youth development programs in the Philippines. I was glad to attest how Juan Carlos is not only a successful businessman. Moreover, he is an endeared and beloved personality, proven by the attendance of more than 100 people to his award ceremony formed by his family and close friends with a robust group of businessmen headed by the first and current president of the PMBC, Raul Concepcion, and Arthur Tan—both high level representatives from the foreign affairs department, members of Congress and leaders of Mexican companies with investments in the Philippines. I wish to highlight that the conferment of the OMAA to this outstanding Filipino represents undoubtedly a milestone in renewing the long-standing friendship between Mexico and the Philippines. Moreover, it is a call to further strengthen bilateral ties and deepen the economic and commercial connections between both countries, not simply as partners but as sister nations.

Historic moment

NEW president of Mexico, Andres Manuel Lopez Obrador (center)

T is with deep pleasure that I share with our kind readers and friends of the BusinessMirror that on November 28, at the Official Residence of Mexico in Manila, I had the honor to bestow the outstanding business leader and Philippine-Mexico Business Council (PMBC) President ad honorem Juan Carlos del Rosario with the Mexican Order of the Aztec Eagle (Orden Mexicana del Águila

Azteca, or OMAA), the highest recognition the Mexican government awards to nonMexican citizens. With this conferment, del Rosario’s tireless efforts in promoting bilateral ties between Mexico and the Philippines since the 1990s have been recognized and appreciated. To name one example of the importance

ON December 1, in what has been the most attended takeover of a Mexican president in history witnessed by representatives of 110 countries, including 13 heads of state, Andres Manuel Lopez Obrador was sworn in as the President of the United Mexican States before the Congress of the Republic. After saluting his international guests and members of the diplomatic corps in Mexico’s National Palace, President Lopez Obrador was part of another historical and significant moment we he received the “Indigenous People’s Leadership Staff” from leaders of the 68th original Indigenous Mexican cultures—the first time in modern history to ever been granted to a Mexican president. He subsequently addressed 160,000 people, an occasion in which he reiterated his vow to begin the country’s “Fourth Transformation” through infrastructure development—an ambitious social-welfare agenda, government austerity, peace and honesty. Lopez Obrador’s rise to the presidency comes with great hopes of a new future for Mexican people. Indeed, the strong support

shown in the polls, where he won with 52 percent of the total votes, gave him a powerful base of support to lead his ambitious agenda of transformation for Mexico. It is worth highlighting that he has promised publicly to not defraud Mexico in this historic time for the nation, and invited everyone to “to build the justice and happiness that the Mexican people deserve, as well as a

new life for this great nation.” In this overwhelming task, Lopez Obrador and the new Secretary of Foreign Affairs Marcelo Ebrard will have all the support and commitment of the embassy of Mexico in the Philippines and its Mexican Foreign Service members to work together to achieve the Fourth Transformation of our nation.