Businessmirror December 14, 2018

DEPT. OF SCIENCE AND TECHNOLOGY

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Friday, December 14, 2018 Vol. 14 No. 65

DOE moves to jump-start PHL-China energy talks

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By Lenie Lectura

“The MOU [memorandum of understanding] is meant to explore a solution. So, I sent a notice through the DFA [Department of Foreign Affairs] saying I am ready and want to meet with them immediately,” said Cusi.

Even if the Philippines and China have one year to discuss the recently signed MOU before both

countries arrive at any firm agreement on a possible joint exploration, Cusi said he would not wait for his attention to be called. “There’s an MOU. In the spirit of the MOU, I want to immediately discuss it. I am not passive,” he added.

Manila and Beijing, through their representatives—Foreign Affairs Secretary Teodoro L. Locsin

Jr. and his counterpart Wang Yi— signed the MOU in the presence of President Duterte and President Xi Jinping during the latter’s visit to the Philippines last month.

To critics who raised fears the MOU may further embolden China’s maritime expansion, Locsin— who said the MOU was Philippinecrafted—has explained that it did

“There’s an MOU. In the spirit of the MOU, I want to immediately discuss it. I am not passive.”—Cusi

not yield an iota of sovereignty to China and was simply an agreement to agree. Two critics of China’s expansionary moves in the South China Sea, Supreme Court Senior Associate Justice Antonio Carpio and Locsin’s predecessor Alberto del Rosario, had described the MOU as a good starting point for engaging Beijing.

Meanwhile, Energy Assistant Secretary Gerardo D. Erquiza Jr. said separately that a meeting with the DFA was supposed to happen this month, but conflicting Continued on A2

@joveemarie

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See “Sona bills,” A2

Dr. Jesus Lim Arranza

Make Sense

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HE recent raid on a suspected shabu laboratory inside the exclusive Greenhills Subdivision in San Juan City tells us how drug lords have become even more brazen with their illegal trade, despite President Rodrigo Duterte’s bloody all-out war on illegal drugs. The police raiding team seized P204 milion worth of chemicals and equipment that could produce up to 30 kilos of shabu per week.

Continued on A11

With inflation seen at below 4% in 2019, BSP keeps its rates

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By Jovee Marie N. dela Cruz HE leadership of the House of Representatives has finished all the 15 items on the legislative agenda of President Duterte, as mentioned in his State of the Nation Address (Sona) in July.

In her speech before the adjournment of the lower chamber on Wednesday, Speaker Gloria Macapagal-Arroyo said that with the passage of the priority bills, the House will now pivot to its oversight function in her remaining months of the 17th Congress to help the administration implement the laws and “harvest the results during the final three and a half years of President Duterte’s term.”

Public support needed to solve drug problem

By Bianca Cuaresma

‘Speedy Arroyo’ touts House OK of all 15 Sona bills

SOUTHBOUND SALES A man passes by a head-turning poster of a European car in Bonifacio Global City. According to latest industry date, vehicle sales from January to November 2018 slumped by 14.4 percent on the back of double-digit declines on all segments in November. Full story on page A12. NONIE REYES

PESO EXCHANGE RATES n US 52.6650

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NERGY Secretary Alfonso G. Cusi said on Thursday that his office has initiated moves meant to jump-start discussions between the Philippines and China on a possible joint oil and gas exploration.

2017 EJAP JOURNALISM AWARDS

@BcuaresmaBM

ROM its current 6-percent level, the country’s consumer price growth is now expected to decelerate to below 4 percent as early as March next year, prompting the Bangko Sentral ng Pilipinas (BSP) to halt its tightening moves in Thursday’s meeting.

In a press briefing following the Central Bank’s last policy setting meeting of the year, the Monetary Board announced its decision to keep the overnight reverse repurchase (RRP) facility rate unchanged at 4.75 percent.

The interest rates on the overnight lending and deposit facilities were likewise held steady.

“In deciding to maintain the BSP’s monetary policy settings, the Monetary Board noted that the latest inflation forecasts show a lower path over the policy horizon, with inflation settling within the target band of 2 to 4 percentage points for 2019 to 2020,” BSP Assistant Governor Francisco G. Dakila Jr. said. Dakila read BSP

Governor Nestor A. Espenilla Jr.’s monetary policy statement.

The assistant governor said they expect inflation to fall below 4 percent “around the end of the first quarter of 2019.”

This is a significant development from their earlier statements that they expect inflation to remain above 4 percent in the first half of 2019 before falling to below 4 percent in the second half of next year.

In particular, inflation is now expected to average 3.18 percent for 2019, lower than the November forecast of 3.5 percent.

Both the 2018 and 2020 forecasts were slashed, too, with this year’s inflation seen to hit 5.2 percent, revised from the 5.3 percent forecast in November; while 2020’s inflation is projected to hit 3.04 percent, down from the 3.3 percent November forecast.

“Recent headline inflation readings indicate signs of receding price pressures as constraints on food supply continue to ease with the implementation of various nonmonetary measures.

See “Inflation,” A2

n JAPAN 0.4653 n UK 66.7476 n HK 6.7402 n CHINA 7.6556 n SINGAPORE 38.4052 n AUSTRALIA 37.9978 n EU 59.8959 n SAUDI ARABIA 14.0391

Source: BSP (13 December 2018 )

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A2 Friday, December 14, 2018

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No special session to finish 2019 budget

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

HERE will be no special session to finish the passage of the proposed 2019 budget before year-end, Budget Secretary Benjamin E. Diokno confirmed on Thursday.

“At the request of the Senate, we decided not to call a special session, and the President agreed.

The GAB [General Appropriations Bill] arrived late from the House," Diokno said.

This means that the government

will be operating under a reenacted budget for next year, a first under the Duterte administration.

Senators confirmed on Thursday the government may have to operate under a reenacted budget next month as Congress ran out of

time to pass the final version of the P3.7-trillion budget bill, with lawmakers set to adjourn sessions this week for their traditional Christmas recess from December 15 to January 13, 2019.

Earlier, Diokno had said economic managers were poised to prod President Duterte to call for a special session of Congress next week to pass the bill, even as the House of Representatives formally adjourned sessions on Wednesday.

“Yes. It is going to be a reenacted budget,” Senate Majority Leader Juan Miguel F. Zubiri told the BusinessMirror late Thursday, adding: “We can’t do anything because there are 10 more department budgets that need to be scrutinized.”

Taking the f loor, Sen. Pan-

filo M. Lacson Sr. said, “...After tackling the proposed budget of the Office of the President, we still have to tackle some big ones.

Department of Tourism, Department of Public Works and Highways, Department of Justice—at least the Bureau of Immigration, Commission on Audit, Comelec, Ombudsman, DOH, DND, DILG. And even if the President calls for a special session, even if we extend our session for another five days, for another week, it is impossible, Mr. President, for us to enact the budget bill before the year ends.”

Sen. Joseph Victor G. Ejercito noted that “the House transmitted the 2019 budget bill to the Senate just too late.”

Ejercito added that, in fact, the

DOE moves to jump-start PHL-China energy talks Continued from A1

schedules prompted both agencies to reschedule it.

“We are gathering details. It’s a step-by-step framework on how we are going to move forward to be able to have a fruitful activity with China. We have a technical working group among us, and we have already said that, anytime, we can start and go,” said Erquiza.

Moratorium

HE also said that the eventual lifting of the moratorium of exploration activities under Service Contract (SC) 72, an oil-and-gasexploration permit covering the

Inflation. . .

Continued from A1

Inflation expectations have also steadied given the decline in international crude oil prices and the stabilization of the peso,” Dakila said.

Earlier this year, President Duterte issued Administrative Order 13 to remove nontariff barriers and streamline administrative procedures on the importation of agricultural barriers to ease food inflation.

Peso trade MEANWHILE, data from the Bankers Association of the Philippines showed the local currency closing at 52.62 to dollar on Thursday. This is 9.5 centavos stronger than the previous day’s trade.

It is also stronger than the 52.808 to a dollar November average trade of the peso.

Dakila also said their baseline outlook for oil is now at around $63 per barrel for 2019, in stark contrast to the above $80 per barrel in the third quarter of 2018.

BSP Director for the Department of Economic Research Dennis Lapid said the slash in all three inflation projections were “consistent with the notion that supply shocks are not a permanent influence on inflation.”

“This is consistent with our past ex-

Sona bills. . .

Continued from A1

“For the remaining months of the 17th Congress, I ask the House to be prepared to give the implementing departments and agencies the support that they may need to the extent that they make this pivot from policy to action, such as by way of House Resolutions from us the elected representatives of the people, or through the helpful exercise of House oversight functions next year. We will expect the oversight committees to be very active in the next months or so,” she said.

Arroyo trumpeted the five months it just took the House to pass all the priority bills, since she assumed leadership.

The President’s priority bills included the Bangsamoro Basic Law, Endo or the Security of Tenure Act, Utilization of the Coco Levy Act, National Land Use Act, Creation of the Department of Disaster Resilience, Rice Tariffication, Trabaho bill or TRAIN 2, Mining

Sampaguita natural-gas prospect in the Reed Bank, to the west of Palawan, would be part of the future discussions.

Discussions between the PXP Energy Corp. and China National Offshore Oil Corp. for a possible joint exploration of SC 72 had been put on hold because of the dispute between the two countries on the area where the service contract is.

The Philippine government had declared force majeure on the license in 2015 due to a territorial dispute with China then.

That time, the case filed by Manila against Beijing’s “excessive”

perience with previous supply shock episodes where we would have a very sharp increase in inflation and then a few months later you would see a steady deceleration,” Lapid said.

Dakila said the risks to the inflation outlook have become more evenly balanced for 2019 and lean toward the downside for 2020 amid a more uncertain global economic environment.

Tightening cycle over?

DAKILA said the BSP is now “more comfortable” in their ability to bring inflation back to target range for 2019.

The BSP pegs their inflation target range at 2 to 4 percent on average annually for 2018 through 2020.

“There is now an ample cushion given that we are looking at different oil price scenarios; and actually, even if oil prices are to rise significantly compared to where they are today, we are still anticipating that inflation will be within target for next year,” Dakila said.

The BSP pulled out a total 175-basispoint hike in the year starting May to pull down inflation.

Asked if the BSP was done hiking rates, Dakila said the future decisions of the Monetary Board will continue to be data-dependent, but said they remain ready to take action if necessary.

“The Monetary Board deemed it prudent for the time being to keep

Taxes, Alcohol Taxes, Tobacco Taxes, Reform in Property Valuation, Reform in Capitol Income and Financial Taxes, Tax Amnesty Program, Universal Health Care and Revision of the Constitution. “The key words are hard work, selectively hands-on especially in shepherding the 2018 Sona bills of the President Duterte to passage by the House, strict but hopefully fair and open-minded,” Arroyo said.

The Speaker said she was not concerned about her “legacy” but with carrying out “the legislative agenda of the President.”

She added: “More important for me, shortly after I assumed the Speakership, I told you, my colleagues, that my goal is to implement the legislative agenda of President Duterte. And you have seen that the legislation that the House has prioritized these past six months were the priority bills announced by the President in his 2018 State of the Nation Address.”

In just 41 days since she assumed the speakership, Arroyo said the House has processed about 1,361 bills and approved 492 measures, of which 95 had passed into law.

nine-dash-line claim was being heard in the Permanent Court of Arbitration in The Hague. The following year, the PCA ruled in Manila’s favor, but China has refused to recognize the judgment.

Cusi said the DOE and the DFA are closely working on the lifting of moratorium on SC 72.

“We want to lift it…but as we do so, we do not want to create problems that we may not be able to handle. The DOE and DFA, together with other government agencies, are working together to find a solution to that problem,” said Cusi.

“We don’t want to impose a

monetary policy settings steady and allow previous monetary responses to continue to work their way through the economy.

The Monetary Board emphasizes that it remains vigilant against developments that could affect the outlook for inflation and financial stability,” Dakila said.

“The BSP is prepared to take further policy action as appropriate to safeguard its price stability mandate,” he added.

ING Bank economist Nicholas Mapa said the lower inflation forecasts increase the likelihood that the BSP may be done with its recent tightening cycle.

“The BSP will likely slash reserve requirement ratios as early as 1Q with inflation decelerating while domestic liquidity conditions remains tight [latest M3 growth at 8.2 percent],” Mapa said.

“Meanwhile, should inflation edge closer to within target, growth decelerate until the first half of 2019 and the Fed indeed take on a more dovish stance next year, the BSP may quickly slash its main policy rate as early as the second quarter,” he added.

Inflation in November is at 6 percent. While still above the 2 to 4 percent target, it is a “significant deceleration” from the 6.7 percent peak in the previous month.

Thirty-nine bills are ready for the President’s signature; 27 with ratified bicameral reports; 25 on bicameral conference committee; 22 approved on second reading plus 38 resolutions approved. “We have processed an average of 33 measures a day.”

Pet bills

AFTER the passage of Duterte’s bills, Arroyo said the House will now focus on the priority measures of lawmakers.

“Thus, the country already has a good policy framework in place, supported by good legislation. There will always be room for making new policy legislation. And next year, we will be able to attend to your pet bills,” she said.

“But on the whole, I think it’s time to pivot from mere policies to implementation. We must harness the results during the final three and a half years of President Duterte’s term,”she said.

The House of Representatives has adjourned the session until the 14th of January 2019 “unless the President declares that we should have a special session prior to that.”

timeline that is not within our control because there are other factors we have to consider. But what I can tell you, we are working, moving with urgency,” he said, when asked for a target working schedule for the lifting of the moratorium.

Cusi earlier told PXP Energy that it needs to make a formal request to the energy department for the lifting of the moratorium on exploration and drilling works.

PXP Energy holds a 78.98-percent controlling interest in UKbased Forum Energy Plc., which, in turn, has a 70-percent stake in SC 72.

Tourists. . .

Continued from A12

Tourists from the United States came in third place with an 8.34-percent increase to 850,735; followed by Japan at 530,228 (up 8.02 percent); and Australia at 220,367 (up 6.74 percent). Because of the strict carrying capacity guidelines in Boracay, which limit daily tourist arrivals to 6,045, Romulo Puyat said the DOT promotes alternative destinations such as Siquijor, Camiguin Island and Siargao, aside from Cebu, the top tourist drawer.

Although the DOT will recalibrate the National Tourism Development Plan for 2016-2022 starting next year, she said the agency will continue to market the Philippines as a prime destination for sun and beach activities, to learn English as a second language, for MICE (meetings, incentives, conventions and exhibitions) and culinary tourism.

Meanwhile, Bengzon said it was still “too early to make any recommendations” to limit the number of tourists going to Baguio City, as the Department of Environment and Natural Resources (DENR) has suggested. “What’s important is to make an assessment of the situation with respect to the carrying capacity, as we did in the case of Boracay,” he added.

He said the DOT, along with the DENR and the Department of the Interior and Local Government, are looking at Siargao Panglao “and most other seaside resort destinations, as these are the most environmentally fragile” for the government’s monitoring and rehabilitation efforts. “The local government units and stakeholders are realizing that they need to police their own ranks, and comply with local and national ordinances, so the problems experienced in other destinations will not happen to their destination,” he noted.

Under the NTDP, the DOT targets foreign tourist arrivals at 8.2 million in 2019, and tourist receipts at $6 billion or P318 billion. This may change, however, as the agency revises the NTDP goals, Bengzon said.

The DOT is actively promoting the Philippines in socalled“opportunity markets”to beef up the number of inbound tourists.These include Indonesia and Japan, Singapore and Malaysia, India, Russia, France, Spain, Italy and Scandinavia.

“What we want achieve is an optimum mix of source markets so that if any of the major markets take a hit, the smaller markets collectively will be able compensate,” he explained. Other top source markets for the 10-month period to October are Taiwan, which dipped by 0.5 percent to 204,776; followed by Canada, which grew 12.6 percent to 178,134; United Kingdom at 163,015 (up 9.73 percent); Singapore, 144,101 (up 3.64 percent); Malaysia, 120,976 (up 1.53 percent); Hong Kong at 102,947 (up 10.8 percent); and India at 101,622 (up 14.4 percent).

Senate committee tasked to review the budget bill started work on it earlier. “[We had finished the budget briefings as early as] October.”

Zubiri admitted that “we can’t work on it [budget bill] this Friday because the House had already adjourned, so it will be a reenacted budget the whole of January.”

The Senate Majority leader said “the only way to continue the budget deliberations is to call for a special session,” but added: “it is clear that the House would not meet.”

Economic cost

THE confirmation that there will be no special session comes a day after he said the economic team will recommend that the President call for a special session in a bid to avert

the “costly” economic consequences of a reenacted budget.

Citing the latest estimates from the National Economic and Development Authority, Diokno said a reenacted budget could mean a GDP growth in 2019 of between 4.7 percent and 5.9 percent—not hitting even the lower end of target, at 7 percent.

Per Department of Budget and Management estimates, the reenacted budget will also reduce disbursements by P220 billion next year.

As many as 600,000 jobs could be cut. “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 on Wednesday.

With time running out, poll watchdog Lente says voters uninformed about BOL

By Samuel P. Medenilla

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@sam_medenilla

POLL watchdog on Thursday warned of the possible prevalence of uninformed votes in the upcoming plebiscite for the Bangsamoro Organic Law (BOL).

Based on its feedback in the Autonomous Region Muslim Mindanao (ARMM), the Legal Network of Truthful Elections (Lente) said many residents who will be participating in the plebiscite still lack information on the implications of the subject matter of the referendum.

“Our partners, who have access to information about BOL, said they still don’t have much knowledge about the content of the BOL. We could assume that those living in the far-flung barangays still have no access to the same information,” Lente Executive Director Rona Ann Car itos said dur ing a press conference.

Caritos said common queries about the plebiscite they encountered include the date of the plebiscite; list of contiguous areas; the number of deputy chief ministers in the proposed Bangsamoro Autonomous Region in Muslim Mindanao (BARMM); and the employment of the ARMM personnel.

She also said misinformation about the provisions of the BOL is also widespread in Mindanao.

She noted the common misconception on BOL is on the needed “double majority votes” needed for “contiguous areas,” so they could become part of the BARMM. The BARMM will be formed from part of the ARMM and “contiguous” areas that will vote yes in the plebiscite on January 21 and February 6 of next year.

“There is a misconception now [that] when most of the residents in non-core areas vote yes, they will be included immediately in the BARMM,” Caritos said.

“But that is not the case because they would need still double majority [votes]. For that to happen, most residents in the province or municipality where the non-core area belongs should also vote yes,” she added.

Delayed info campaign

LENTE attributed this trend to the delayed information campaign of the Commission on Elections (Comelec) in areas in Mindanao to be covered by the plebiscite.

Caritos said Comelec still has not fulfilled its mandate under the BOL to distribute primers and posters for the plebiscite after the bidding for it failed

on Wednesday.

She also said the poll body has yet to hold the necessary town hall meetings to inform concerned voters about the details of the BOL and the plebiscite.

Caritos stressed the importance of holding the town hall meetings to inform the plebiscite participants.

“Let us remember ARMM has a high illiteracy rate. So posters and primers would not be a very effective source of information there. This is why Comelec should fast-track holding the said meetings,” Caritos said.

Nongovernment initiative

DESPITE only a few weeks remaining before the plebiscite, Lente said it is still optimistic a successful information drive could be mounted by Comelec in Mindanao with the help of the private sector and nongovernment organizations.

“It is our obligation as citizens of the people that should get involved. We should educate our brothers and sisters in the ARMM and non-ARMM areas about the contents of the BOL,” Caritos said.

Simbahang Lingkod Bayan representative Karlo Abadines said several civil society groups and universities have already sent volunteers in Mindanao to hold information drives about BOL. He said the media will play a key role in the campaign, especially in reaching out to isolated areas, which will participate in the plebiscite.

“On radio to actually talk about the Bangsamoro Organic Law. I felt that is something we have to maximize as well, especially if you want to reach out in areas that are far and in the grassroots like those in the mountains,” Abadines said.

Part of the process

ENSURING voters of the plebiscite will make a informed choice, Caritos said, will determine the success of the BARMM. She said merely convincing voters to participate without them knowing its full implication will lead to renewed instability in Mindanao.

“If you look at the history, if people don’t really like or want to be part of the new territory, then it would really lead to unrest or probably the formation of the new [separatist] groups again,” Caritos told the BusinessMirror in an ambush interview.

“That is the one thing we want to avoid in the plebiscite. That people will feel they are part of the process by ensuring they are informed,” she added.

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Editor: Vittorio V. Vitug • Friday, December 14, 2018 A3

Ex-PDEA exec, cops, BOC agents, others face raps over ₧6.4-B shabu smuggle case

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By Joel R. San Juan

@jrsanjuan1573

HE Philippine Drug Enforcement Agency on Thursday formally sought the criminal indictment before the Department of Justice (DOJ) of several former police officials, including a former PDEA official, and anti-narcotics agents, along with other private individuals, allegedly involved in the smuggling of the P6.4 billion worth of shabu concealed in several sets of magnetic lifters.

PDEA Director General Aaron N. Aquino said the respondents should be prosecuted for violations of the provisions of Republic Act 9165 or the Dangerous Drugs Act of 2002, particularly Section 4 (Importation of Dangerous Drugs); Section 5 in relation to Section 26 (Attempt or Conspiracy); Section 32 (Liability to a Person Violating any Regulation Issued by the Board) in relation to Section 30 (Criminal Liability of Officers).

T he respondents w i l l a lso be charged w ith v iolation of

Presidential Decree 1827 (Penalizing Obstruction of Apprehension andProsecutionofCriminalOffenders); Article 208 of the Revised Penal Code, which penalizes any public officer who fails to initiate the prosecution of criminal offenders, as well as those tolerating the commission of offenses; and the provisions of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act. Named respondents in the complaint were former Senior Supt.

Eduardo Paderon Acierto, former

PDEA deputy director general for administration; Ismael Gonzales Fajardo Jr., former Customs intelligence officer; Customs Agent Jimmy Guban; Police Insp. Lito Pirote and Joseph Dimayuga, as principals.

Also included as respondents were private individuals, namely, Chan Yee Wah, Emily Daprosa Luquingan, Vedastro Cabral Baraquel Jr., Maria Lagrimas Abelgas Catipan, Alex B. Padlan, Zhauq Quan/ Zhang Quan, Gorgonio V. Necessario, Myra C. Tan, Terence L. Uytingban, Avelino S. Tendera and entities SN Logistics and Ben Line Agencies Philippines for the magnetic lifters found at the Manila International Container Port (MICP).

The PDEA also filed cases against entities and personalities linked to the seizure of magnetic lifters found in General Mariano Alvarez in Cavite.

Among them are Nonito Estorninos Jr., Li Jie of He Zhong Consultancy Co. Inc.; Ramon Tuyay, John Leric Olavario, Maribeth Olavario, Minerva Verso and ChungChun Hsu of Red Day Machinery Parts Corp.; Le Thi Thuy, Luu Thi Thu Huong, Kan Yi Hong, of Yida Equipment Crane Ltd. Co.; Du Quoc Duong of Dong Trieu Trading and

Import/Export Service Trading Co. Ltd.; Chen Wei Cheng, Ping Cheung Fung, Roy Wang, Roy and two other who are yet to be identified from All Systems Logistics Inc.; Marina de la Cruz Signapan, Alexander Dames, Katrina Cuasay and Miguella Santos of SMYD Trading; and Customs officials and officers namely lawyer Zsae Carrie de Guzman, head of X-Ray Inspection Project; Benjamin Cajucom, shift supervisor, X-Ray Inspection Project; Manuel Martinez, operator, X-Ray Inspection Project; Dolores Domingo, appraiser; and seven others identified only through their aliases.

The PDEA said the criminal complaint was an offshoot of the hearings conducted by both the House of Representatives and the Senate Blue Ribbon Committee where the names of the respondents were linked in the entry of the shabu shipment into the country.

“This is to inform the public that PDEA is serious to come up with airtight cases against all personalities behind illegal drug transactions,” Aquino said.

It can be recalled that on August 7, 2018, the shabu shipment concealed in the magnetic lifters were discovered during inspection at the MICP.

Puno denounces House ‘sham federalism’

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ORMER Consultative Committee (Con-com) Chairman Reynato S. Puno on Thursday branded as nothing but “sham federalism” a resolution approved by the House on the proposed shift to a federal form of government.

Puno, a former Chief Justice of the Supreme Court who headed the body created by President Duterte to review the 1986 Charter, said the committee has agreed to reject the endorsement of Resolution of Both Houses (RBH) 15, which was approved on third and final reading by the House of Representatives on Tuesday.

“What they [lawmakers] established is a unitary system without the ban of political dynasties and with unlimited term of office. They did not establish a federal government and it’s constituent states. They did not divide the powers of government between the two. Hence, they are peddling a unitary government dressed as federalism. It is a sham and a shame,” Puno said in a text message to the BusinessMirror. He added they have decided to “inform the people of the sham federalism being peddled by the House.” “We will do it individually and through coalitions with kindred groups,” Puno said, even as he admitted he is yet to discuss the issue neither with the President nor the Senate.

“We are doing this on our own,” he said. “Technically, we have been disbanded after submission of the draft

federal Constitution,” he conceded.

Puno, however, said he still believes that the President continues to support the Con-com draft based on his statements. Meanwhile, another former Con-com member and former Senate President Aquilino Q. Pimentel Jr. said that charter passed by the House was “good for Gloria, not for the country,” referring to now House Speaker and former President Gloria Macapagal-Arroyo.

He also pointed out that the charter did not impose a ban on political dynasties and it has also no clear commitment to federalism. “The Con-com is done with its work. The ball is in the hands of Congress [both Houses]. Con-com can continue informing the people about what it had actually recommended to the President,” he told the BusinessMirror via SMS. Lone female Con-com member and lawyer Susan UbaldeOrdinario also expressed her disgust on the House charter.

“Well, they’re all amazing intellects in the House of Representatives. It takes them only three days to deliberate a charter that took Con-com 4 1/2 months to draft,” she said. “Of course, it was never their intention to study how to serve the best interest of the 110 million Filipinos, only the vested interest of 290 plus House members. So how difficult can that be?”

Last July the Con-com submitted its proposed draft federal charter to the President. Bernadette D. Nicolas

A4 Friday, December 14, 2018 • Editors: Vittorio V. Vitug

DOF pushes for passage of measure to simplify income taxation system

By Rea Cu

@ReaCuBM

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HE Department of Finance (DOF) on Thursday pushed for the passage of House Bill (HB) 8645, or the Passive Income and Financial Intermediary Taxation Act under Package 4 of the Comprehensive Tax Reform Program (CTRP), saying the proposed law will simplify the country’s income taxation system and benefit small savers.

Finance Undersecretary Karl Kendrick T. Chua said unifying and lowering the tax rates on interest and other forms of passive income will benefit 75 percent of deposit account holders who are mostly small savers, Bangko Sentral ng Pilipinas (BSP) data show.

It was explained that under the current setup, those with more funds to invest and more time to park these funds in banks are taxed lower than those who can only afford to invest for a shorter period.

Chua said that HB 8645, if passed into law, will simplify the 80 tax base and rate combinations in the financial sector that are dependent on various conditions, such as type of product, type of lending, issuer,

currency, maturity, taxpayer, residency, business status, and various special laws resulting in the multiple rates, even among comparable financial instruments and transactions.

Other key features of the bill include: reducing the number of rates of withholding taxes; harmonizing business taxes at a single rate of 5 percent; removing or minimizing barriers to capital market development, such as the tax on initial public offering; rationalizing the documentary stamp tax of the financial sector to promote capital mobility; and adopting a regionally competitive tax system to make tax rates on passive income, which is the highest in Asean, at par with other economies in the region.

“These variations in the tax rates and the unequal tax treatment of equivalent or comparable financial instruments, between financial institutions and nonfinancial institutions offering the same service or product, or between interest and dividend, give rise to arbitrage and leveraging. This means that investment decisions are made not because of the competitiveness of the product or service, but because of tax considerations,” Chua said.

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PHL ranking in B2C E-commerce index jumps four notches in 2018

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By Cai U. Ordinario

@caiordinario

HE economy is becoming more open to supporting online shopping in the Philippines, according to the latest study from the United Nations Conference on Trade and Development (Unctad).

In the Unctad’s B2C (business to consumer) E-commerce Index 2018, the Philippines saw a four-notch increase in its ranking to 92nd from 96th, out of 151 economies.

However, the country continued to trail behind its Asean-5 counterparts, such as Singapore, which ranked second overall; Malaysia, 34th; Thailand, 43rd; Vietnam, 69th; and Indonesia, 90th.

“A competitive B2C E-commerce ecosystem, as reflected by the index, appears to be enticing foreign investment. Several of the top 10 developing countries in the index saw inflows of foreign direct investment into their e-commerce sectors in 2017, amounting to at least $1.7 billion.

Venture capital is also attracted to favorable e-commerce environments,” the report stated.

The index has four indicators namely: account ownership at a fi-

nancial institution or with a mobile money service provider; the percentage of the population using the Internet; results of the postal reliability index; and secure Internet servers.

The data showed the share of the population using the Internet was at 56 percent of the Philippines population, while the share of individuals with an account was 35 percent.

In terms of secure Internet servers, data measured the percentage of secure servers at 44 percent while postal reliability in the country is at 45 percent.

This placed the country’s index value to 45.1, representing a change of 4.9 from the 2017 value of 40.

Of the nine Asean member countries included in the index, the Philippines and the other Asean-5 countries all posted improvements in their rankings.

Singapore improved 16 notches,

while Malaysia, Thailand and Vietnam climbed five notches. Indonesia boosted its rankings by 11 notches.

Other Asean countries in the index saw declines in rankings such as Lao PDR which is ranked 98th, down six notches from 92nd; Cambodia ranked 118th, down three notches from 115th; and Myanmar, 125th down two notches from 123rd overall.

“According to Netcraft, the company that carried out the survey, there was a sharp rise for some countries due to drives from browser vendors for increased security and the availability of free, easy-to-use certificates. Postal reliability scores fluctuated significantly in 2017 as postal operators adjusted to growing parcel volumes from increased online shopping,” Unctad said.

The top 10 countries in the index were led by The Netherlands at first place followed by Singapore, second; Switzerland, third; United Kingdom,

fourth; and Norway, fifth.

The list includes Iceland at sixth overall followed by Ireland at seventh; Sweden, eighth; New Zealand, ninth; and Denmark, 10th.

Further, the report stated that Asian countries are leading the list of top 10 developing countries in the index.

Data showed that the top developing countries are led by Singapore at second overall; Hong Kong China, 15th; Republic of Korea, 21st; United Arab Emirates, 33rd; and Malaysia, 34th.

The report also included Thailand at 43rd followed by Turkey at 47th; Iran at 49th; Chile, 50th; and Saudi Arabia at 52nd overall.

The 2018 Unctad B2C E-commerce Index, which measures an economy’s preparedness to support online shopping, has expanded its coverage to include 151 economies, up seven from the 2017 edition.

A competitive B2C E-commerce ecosystem, as reflected by the index, appears to be enticing foreign investment.

Several of the top 10 developing countries in the index saw inflows of foreign direct investment into their e-commerce sectors in 2017, amounting to at least $1.7 billion.”—report

Marina drafts ₧94.57-B devt plan for next 10 years

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HE maritime sector would have to shell out a whopping P94.57 billion over the next decade to ensure that the industry will grow exponentially and reclaim its title as a global maritime hub, a document from the Maritime Industry Authority (Marina) showed.

Under the draft Maritime Industry Development Plan (MIDP), a 10-year blueprint that spells out the needs, goals, and challenges of the whole maritime industry, the government and the private sector will have to jointly shell out the amount through 2028.

The amount is broken down into eight components, namely: upgrading of domestic shipping in support of the nautical highway development (P45.15 billion); development of shipping services for maritime tourism (P147 million); development of coastal and inland waterways transport system (P2.64 billion); strengthening of safety operations of registered fishing vessels (P75 million); development of a global maritime hub (P45.73 billion); enhancement of maritime safety in the Philippines (P149 million); modernization of maritime security in the Philippines (P83 million); and establishment of maritime innovation and knowledge center (P599 million).

The private sector will take on 92

percent of the total cost, while the remaining 8 percent will be from regular annual appropriations and official development assistance grants or loans from development partners, such as the Japan International Cooperation Agency, Asian Development Bank and the World Bank.

According to the document, the private sector will have to take on the majority of the needed investments, as they involve the “acquisition and operation of modernized, upgraded and compliant vessels with national and international standards.”

The document noted that these costs are still estimates and will be “firmed up by Marina during the initial year” of implementation.

“In addition, the proposed lead and cooperating agencies for the program components, which include facilitation/provision of financial assistance for the private sector, will review and enhance the existing financing policies and programs of the government to be more accessible and affordable to the maritime industry members, particularly those in smalland medium-sized enterprises, in order to enable them to take part in, and benefit from, the MIDP’s priority programs,” the document read.

Local government units may also participate in the implementation of the program to “improve accessibility

of their areas through acquisition of vessels and construction of terminals or landing facilities, which they can operate or rent out to the private sector for operation.”

They will be given access to funding support through the municipal development fund being administered by the Department of Finance.

The 10-year blueprint aims to accelerate achievement of nationally integrated and globally competitive maritime industry through developing and supporting an organizational culture and practice of leading in maritime education, innovation, technology and sustainability.

Marina Officer in Charge Narciso A. Vingson Jr. said the formulation of the program is a participatory process, which enabled his agency to recognize the present conditions of the maritime industry and draw up a comprehensive long-term plan for its sustainable growth and development.

“The developments and programs under the MIDP means good and positive things for the Philippine maritime industry, as the agency and all the stakeholders strive to reform, revitalize and innovate for the future,” he added.

Marina, meanwhile, bagged the “Best Regional Identification Document” award at the High Security Printing (HSP) Asia Confer-

ence held in Hanoi, Vietnam, for its development of the Seafarer Identity Document (SID) project to be implemented early next year. It bested six competitors, including the Hong Kong ID, the new Taiwan e-Passport the new Thailand e-Passport and the new Afghanistan ID, among others, a news statement reported.

The SID project is developed in compliance with the standards of the International Labor Organization (ILO) Convention 185 or the Seafarers’ Identity Documents Convention 2003, as amended. Generally, the SID will provide the easy facilitation of our Filipino seafarers’ shore leave, cross border, transfer and repatriation, by doing away the stringent requirement of visa.

Initially, the SID, which complements the existing Seaman’s Identity and Records Book, is renewable every five years. Filipino seafarers can avail themselves of the benefits of SID in any of the 34 countries that have, likewise, ratified the ILO Convention 185 or the SID Convention including France, the Republic of Korea and Spain.

In its eventual implementation, the Marina will prioritize overseas Filipino seafarers in the application for the SID, but domestic Filipino seafarers may also avail themselves of such document. Lorenz S. Marasigan

Saudi woes displace, strand 7K OFWs—Migrante International

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ROUND 7,000 overseas Filipino workers (OFWs) in the oil-rich Kingdom of Saudi Arabia (KSA) have been displaced from their jobs, as the Arab country continues to reel from its economic woes, according to the Migrante International (MI).

In its year-end media conference on Wednesday, MI Coordinator for Rights and Welfare Assistance Gina Esguerra disclosed the figures only represent the count of “distressed” OFWs, who have sought assistance from their organization.

These OFWs are currently stranded in KSA after their companies declared bankruptcy and were unable to pay their benefits.

Many of them, Esguerra said, were employees by Al Azmeel Contracting and Construction Corp., Rakan Trading and Contracting Co., and SAMAMA Co. for

Operation and Management.

Labor officials confirmed the rising number of displaced workers in KSA. “Number one reason for that is the economic reversal [in KSA]. Another reason is ‘Saudization,’ wherein certain industries [in Saudi] are now reserved for Saudi nationals,” Philippine Overseas Employment Administration (POEA) Administrator Bernard B. Olalia told the BusinessMirror.

Labor Secretary Silvestre H. Bello III has already ordered the creation of a task force to monitor and assist the distressed OFWs still stranded in KSA. Bello tasked the Philippine Overseas Labor Office to submit a regular report, and to assess the situation and to assist the OFWs in KSA, while the Overseas Workers Welfare Administration (OWWA) was instructed to facilitate

their welfare assistance and repatriation.

Last week the OWWA repatriated 109 of these workers.

For his part, Olalia said he already ordered the suspension of the license of B.M.C.A.R.T International Recruitment and Placement Service Inc. for failing to report on the status of the workers it deployed to Azmeel Contracting and Construction Corp.

“This is necessary since it might deploy more OFWs...but its obligation to repatriate its workers stays,” Olalia said.

Migrante International, however, expressed frustration over the slow pace of the delivery of government aid to the displaced workers.

Migrante International noted the ongoing trend in KSA will ultimately impact not only the affected OFWs, but the country’s economy.

As one of the top OFW destinations in the Middle East, KSA hosts over a million Filipinos.

Bangko Sentral ng Pilipinas (BSP) reported that OFW remittances from the Arab state declined by 12.3 percent to $1.6 billion in September, from $1.8 billion in the same period in 2017.

Migrante International Chairman Arman Hernando attributed the to decline to the fluctuating price of oil, one of main exports of KSA, in the international market. “This was followed by the closure of companies, where Filipinos work,” Hernando said. He said the trend, which started as early as 2014, could also be observed in other oil-producing Middle Eastern countries.

No less than Bello expressed concern over the trend since it will cause more displacement of OFWs. Samuel P. Medenilla

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Oil mills to buy copra from farmers at ₧24/kg

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By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s coconut oil mills have agreed to buy copra directly from farmers at P24 per kilogram (kg) to boost farm-gate prices, according to the Department of Agriculture (DA).

BLOOMBERG

Agriculture Secretary Emmanuel F. Piñol said the DA and oil mills reached an agreement to set the buying price during a dialogue held on December 12.

The dialogue was aimed at finding solutions to prop up the millgate price of copra, which has fallen below break-even levels.

“The millers have also committed to prevent the buying price from going down at that level [P24/kg] to help coconut farmers nationwide,” Piñol said in a Facebook post published on Wednesday evening.

“The dialogue, initiated by the DA, was aimed at addressing complaints by coconut farmers of very low copra prices,” he added.

Piñol said he has instructed DA regional offices to assist farmers in hauling their copra to the oil mills.

He said the DA, through the Agricultural Credit Policy Council would extend “affordable” credit, which would serve as working capital of organized coconut farmers.

Piñol said the price agreed upon by the DA and oil mills would provide “relief” to farmers who are now incurring losses as copra prices recently fell to as low as P8 per kg, from as high of P40 per kg in previous years.

“Since the transfer of the Philippine Coconut Authority back to the DA three months ago, measures were initiated to address the low copra prices which affect the livelihood of an estimated 4 million

farmers all over the country,” he said.

“The direct-selling scheme is expected to provide relief to coconut farmers until the expected increase of copra prices by mid-2019,” Piñol added.

Domestic copra prices declined steeply this year due to oversupply.

Also, the glut in vegetable oil in the international market also pulled down the price of coconut oil.

Piñol earlier identified measures that the DA has rolled out to bring back the buying price of copra to “profitable levels.” These include the lifting of the export restriction ban on mature coconuts as well as hiking the coconut methyl ester content of biodiesel to 5 percent, from the current 2 percent.

Preliminary data from the United Coconut Association of the Philippines Inc. (Ucap) showed that the country’s CNO exports in the first half fell by 11.10 percent to 414,089 metric tons, from 465,084 MT, due to lower shipments in the first quarter.

Ucap data also indicated that the country’s CNO exports in the first quarter declined by 31.05 percent to 206,043 MT, from 298,838 MT recorded in the January-to-March period of 2017.

Editor: Jennifer A. Ng • Friday, December 14, 2018

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Setting up of farm biz schools to boost PHL agri sector pushed

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O develop and strengthen agricultural education in the Philippines, a leader of the House of Representatives is pushing for the passage of a measure promoting “agripreneurs” in the country.

According to Deputy Speaker Sharon S. Garin of Aambis-OWA party-list, House Bill (HB) 3354, or the proposed Entrepreneurial Agricultural Education Act, seeks to address the need for agricultural entrepreneurship training programs. The measure is pending with the House Committee on Agriculture and Food since August 31, 2016.

Garin said the Agricultural Manpower Education and Entrepreneurship System (AMEES) should be established to boost food production.

“For instance, the Family Farm Schools known Rural Development Schools have been established in various parts of the country since 1988 based on the original French model Maison Familiale Rurale. Such schools provide boys and girls with vital actual experience in agricultural operations and farm management during their formative high school years,” she said.

“As a proof of the effectiveness of the system, about 2,000 schools around the world have copied the French model.

The experience has been the same— farms operate as business enterprises with significant results in profits for farming families and increase in food production,” Garin added.

She said the passage of the bill is “timely” as the world tries to give significance to farming as a way to eradicate hunger and poverty, provide food security and nutrition, improve livelihoods, manage natural resources effectively,

protect the environment and achieve sustainable development.

HB 3354 aims to encourage the application of manpower development for agricultural entrepreneurship in agricultural, technical, and vocational education and training, starting at the post-secondary level.

“The younger generation is veering away from agri-related courses because agriculture is often equated with poverty and underprivileged status. That should not be the case. It is time we equate agriculture with opportunity and prosperity. Not only will this bill promote agriculture as a viable and versatile career option, but it will also create breeding grounds for the agripreneurs we need,” Garin said.

In a 2013 study conducted among children of rice farmers aged 13 to 21, 39 percent of the respondents had unfavorable perceptions of agriculture and saw farming as anti-beauty, a difficult task to perform and a not-so-glamorous venture.

One of the objectives of the bill is to change this misguided perception and encourage more students, particularly those in rural areas, to pursue career paths in agriculture.

Upon the enactment of the bill, each administrative region shall establish an AMEES Development School or Farm Business School. A ladderized system of agricultural entrepreneurship education in the post-secondary level shall be established in both public and private educational institutions or training centers, following the completion of the Rural Farm School curriculum as provided in Republic Act 10618, or the Rural Farm School Act of 2013. Jovee Marie N. Dela Cruz

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Friday, December 14, 2018

The World BusinessMirror

Senate votes on Yemen measure aimed at punishing Saudis

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HE Senate plans to vote on Thursday on a resolution that seeks to withdraw US support for Saudi Arabia’s military campaign in Yemen.

The resolution, S.J.Res. 54, proposed as a punishment for the killing of dissident columnist Jamal Khashoggi, would aim to end US assistance for Saudi Arabia’s war against Houthi rebels in Yemen. The chamber is set to begin considering amendments to the measure at 1:45 p.m.

President Donald J. Trump has sought to play down Saudi Arabia’s responsibility for the killing and dismembering of Khashoggi, instead choosing to emphasize the importance of the two countries’ alliance. The United Nations has said as many as 14 million people could be at risk in Yemen in the coming months as famine spreads.

The Senate voted 60-39 to begin debate on the resolution. Senators say passage would send a strong message to Crown Prince Mohammed bin Salman because it targets his most important foreign policy priority. The White House has threatened a veto.

Earlier Wednesday, the House voted to block members from forcing that chamber to vote on the Yemen resolution this month. Without action in both chambers by year’s end, it will be up to lawmakers to restart the entire debate when their new session starts in January.

The House action means the only rebuke of Saudi Arabia with a realistic chance of passing the House and Senate this year is a separate nonbinding resolution condemning Prince Mohammed as being responsible for Khashoggi’s death.

Senate Republicans and Democrats were unable to agree on a stronger proposal to ban arms sales to Saudi Arabia and impose sanctions on those involved in Khashoggi’s killing. A bipartisan group of senators said on Wednesday they’ll try again to get a vote on that measure in January.

Congress needs to send a message to allies that “you cannot kill with impunity and believe you can get away with it,” said Sen. Bob Menendez of New Jersey, the top Democrat on the Foreign Relations Committee.

GOP Sen. Lindsey Graham of South Carolina, a senior voice on foreign policy and ally of Trump, repeated his argument that the president is “wrong about what’s going on” with Prince Mohammed.

“They need us a lot more than we need them,” Graham said. The US needs to insist on “fundamental change” in Saudi Arabia, he said, adding, “I have a fundamental difference with the president as to how to bring that about.” Bloomberg News

www.businessmirror.com.ph

Detention of Canadians raises stakes in China-US-Canada row B EIJING—China on Thursday confirmed it has detained two Canadian men, raising the stakes in a three-way international dispute over the case of a Chinese telecoms executive facing possible extradition from Canada to the United States.

Foreign Ministry Spokesman Lu Kang said entrepreneur Michael Spavor and former Canadian diplomat Michael Kovrig were taken into custody on Monday on suspicion of “engaging in activities that endanger the national security” of China.

Lu said Canada was informed about the detentions, but declined to say whether the men have been provided with lawyers. He said the cases are being handled separately by local bureaus of the national intelligence agency in Beijing, where Kovrig was picked up, and the northeastern city of Dandong, where Spavor had been living.

“The legal rights of the two Canadians are being safeguarded,” Lu told reporters at a daily briefing.

The two cases ratchet up pressure on Canada, which is holding Meng Wanzhou, the chief financial officer of Huawei Technologies. She was arrested in Vancouver on December 1 but released on bail. The US has requested her extradition to face charges of bank fraud.

Canadian officials have not been able to contact Spavor “since he let us know he was being questioned by Chinese authorities,” Canadian Global Affairs Spokesman Guillaume Bérubé said on Wednesday. “We are working very hard to ascertain his whereabouts and we continue to raise this with the Chinese government.”

Kovrig is an analyst on northeast Asia for the International Crisis Group, a think tank, who took a leave of absence from the Canadian government and is based in Hong Kong.

Spavor runs tours of North Korea along with sports, business and other exchanges through his company, Paektu Cultural Exchange. He has ties to figures in the North’s government, including leader Kim Jong Un and was instrumental in bringing NBA player Dennis Rodman to the North’s capital Pyongyang in 2013.

Acquaintances said he was due in Seoul, the South Korean capital, on Monday, but never showed up.

The detentions echo that of another Canadian, Keven Garratt, who spent 750 days in detention in 2014-16 and was given an eight-year prison sentence for espionage before being deported. Garratt’s detention was seen as a tit-for-tat response to Canada’s arrest of Chinese spy who was eventually extradited to the US. The broadly defined national security charge encompasses both traditional espionage and other forms

IN this image made from video taken on March 11, 2016, entrepreneur Michael Spavor speaks during a friendly ice hockey match between visiting foreigners and North Korean players in Pyongyang, North Korea. A second Canadian man is feared detained in China in what appears to be retaliation for Canada’s arrest of a top executive of telecommunications giant Huawei. The possible arrest raises the stakes in an international dispute that threatens relations. Canada’s Global Affairs department on Wednesday, December 12, 2018, said Spavor, an entrepreneur who is one of the only Westerners to have met North Korean leader Kim Jong Un, had gone missing in China. Spavor’s disappearance follows China’s detention of a former Canadian diplomat in Beijing earlier this week. AP PHOTO

of information gathering such as interviewing dissidents and contacting nongovernment organizations.

The root of the dispute appears to be Canada’s arrest of Meng while she was changing planes at Vancouver airport. The US accuses Huawei of using a Hong Kong shell company to deceive banks and do business with Iran in violation of US sanctions.

China earlier warned of dire consequences if Meng wasn’t released and the editor in chief of the Global Times, a Communist Party-run tabloid known for its provocative views, warned in a video on Wednesday night of “retaliatory measures” if Canada doesn’t free Meng.

“If Canada extradites Meng to the US, China’s revenge will be far worse than detaining a Canadian,” Hu Xijin said, speaking in English.

Canada has asked China for extra security at its embassy because of protests and anti-Canadian sentiment and has advised foreign service staff to take precautions, a senior Canadian official told reporters.

The United States and China have emphasized that China-US trade talks are separate from the case against Meng, though President Donald J. Trump obliterated the distinction on Tuesday, saying he’d intervene if it would help produce a trade agreement with China.

“If I think it’s good for what will be certainly the largest trade deal ever made—which is a very important thing—what’s good for national security—I would certainly intervene if I thought it was necessary,” Trump told Reuters in an interview.

The suggestion that Meng could be a political pawn in negotiations makes the situation more awkward for Canada. Canadian Prime Minister

Justin Trudeau bristled at Trump’s assertion, saying: “Regardless of what goes on in other countries, Canada is, and will always remain, a country of the rule of law.”

Foreign Minister Chrystia Freeland said it was “quite obvious” any foreign country requesting extradition should ensure “the process is not politicized.”

“Both Canadian and American officials have emphasized that the Meng arrest is separate from the trade talks,” said Gregory Yaeger, special counsel at the Stroock law firm and a former Justice Department trial attorney.

“Trump’s remarks could be interpreted as creating the appearance that the arrest also had political motivations. This could undermine the US’s reputation as a country that follows the ‘rule of law,’ and could ultimately undermine both the Meng prosecution and the trade talks.”

Trump earlier drew fire for intervening on behalf of Chinese telecommunications company, ZTE, after it was accused of selling equipment to Iran and North Korea.

US regulators planned to bar it from receiving US components that it depended on, effectively a corporate death sentence. But Trump issued a reprieve, perhaps partly because US tech companies, major suppliers to ZTE, would also have been scorched. ZTE agreed to pay a $1-billion fine, change its board and management, and let American regulators monitor its operations.

Speaking outside the White House on Wednesday, Commerce Secretary Wilbur Ross urged reporters not to jump to the conclusion that Trump will actually intervene in Meng’s case.

“Let’s see what he actually decides,” Ross said. “Let’s see where we go from there.” AP

Oil stays below $52 as investors remain wary over supply outlook

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IL traded below $52 a barrel after US crude inventories slid less than expected and added to concerns that the Opec+ coalition’s output cuts won’t be enough to avert a supply glut.

Futures in New York were little changed, after sliding 1 percent in the previous session. US Energy Information Administration data showed inventories fell by 1.21 million barrels last week, well below the 10.2 million cited in an industry report on Tuesday. Meanwhile, an Opec report showed deeper supply cuts may be needed in late 2019 to counter a looming surplus of oil.

Crude’s still in a bear market after reaching a four-year high in October, as investors remain worried over supply and demand. Record American output, which is expected to boom to more than 12 million barrels a day in 2019, is threatening to overwhelm the market. The US has also allowed some nations to temporarily buy Iranian oil despite the implementation of sanctions, while the unity of the Organization of Petroleum Exporting

Countries is at risk.

“There’s not enough positive momentum in the market to lift prices for now,” said Kim Kwangrae, a commodities analyst at Samsung Futures Inc., said by phone from Seoul.

“The US will be ramping up output next year and the Opec+ coalition is said to be needing more cuts when there are already doubts over whether the recent agreement can actually come through.”

West Texas Intermediate for January delivery traded 4 cents lower at $51.11 a barrel on the New York Mercantile Exchange at 8:35 a.m. in London. Prices decreased 50 cents to $51.15 on Wednesday after the stockpiles data, erasing earlier gains of as much as $1.23. Total volume traded was 44 percent above the 100-day average.

Brent for February settlement lost 5 cents to $60.10 a barrel on London’s ICE Futures Europe exchange. Futures settled 0.1 percent lower at $60.15 on Wednesday. The global benchmark crude traded at an $8.75 a barrel premium to WTI for the same month.

While US crude inventories declined for a second week to about 442 million barrels, they are still above the five-year average of 410 million barrels, according to data compiled by Bloomberg. Stockpiles at the nation’s storage hub of Cushing, Oklahoma, increased for a third week to the highest since January, the EIA data showed.

While production curbs agreed

by Opec and its allies are on track to balance global oil markets in the first half of next year, rising US shale supplies mean they would need to almost double the cutback to prevent a new surplus in the fourth quarter, according to a report from the group.

Supplies from outside Opec, boosted by US shale drillers, are poised to expand by more than global oil demand next year, at 2.16 million a day versus 1.29 million a day, the report showed. Even if the cartel restricts output to the level agreed last week, the market could tip into oversupply again during the second half of next year. Bloomberg News

Editor: Angel R. Calso

The World BusinessMirror

Friday, December 14, 2018

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US official: China suspected in massive Marriott data breach

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ASHINGTON— Investigators believe hackers working on behalf of China’s main intelligence agency are responsible for a massive data breach involving the theft of personal information from as many as 500 million guests of the Marriott hotel chain, a US official said on Wednesday.

PETER HARRELL, an economics and national security expert, testifies before the Senate Judiciary Committee during a hearing to examine China’s nontraditional espionage against the United States, on Capitol Hill in Washington on Wednesday. AP/J. SCOTT APPLEWHITE

Investigators suspect the hackers were working on behalf of the Chinese Ministry of State Security, an official briefed on the investigation told The Associated Press (AP).

The official, who was not authorized to discuss the matter publicly and spoke to the AP on condition of anonymity, said investigators were particularly concerned about the data breach in part because Marriott is frequently used by the military and government agencies.

Marriott, which announced the data breach on November 30, has not disclosed what it knows about the source of the hack, which included the theft of credit card and passport numbers over four years from guests who stayed at hotels previously operated by Starwood.

Marriott acquired Starwood, which includes such brands as Sheraton, W Hotels and St. Regis, in 2016.

“Our primary objectives in this investigation are figuring out what occurred and how we can best help our guests,” Marriott Spokesman Connie Kim said. “We have no information about the cause of this incident, and we have not speculated about the identity of the attacker.”

The revelation of suspected involvement by China comes amid heightened tension with the US over trade; the arrest in Canada on an American warrant of a top executive of Chinese electronics giant Huawei; and alarm among law enforcement officials about Chinese efforts to steal technology to bolster its growing economy.

President Donald J. Trump said he would get involved in the Huawei case if it would help produce a trade agreement with China, telling Reuters in an interview on Tuesday that he would “intervene if I thought it was necessary.”

Officials from the Justice Department, the FBI and the Department of Homeland Security told the Senate Judiciary Committee on Tuesday that China is working to steal trade secrets and intellectual property from US companies in order to harm America’s economy and further its own development.

Chinese espionage efforts have become “the most severe counterintelligence threat facing our country today,” Bill Priestap, the assistant director of the FBI’s counterintelligence division, told the committee. “Every rock we turn over, every time we looked for it, it’s not only there, it’s worse than we anticipated.”

Priestap said federal officials have been trying to convey the extent of the threat to business leaders and others in government. “The bottom line is they will do anything they can to achieve their aims,” he said.

Cybersecurity expert Jesse Varsalone, of University of Maryland University College, said the Marriott hack does have signs of a foreign intelligence agency involvement. They included its duration and the fact that the information stolen, including details about travel by individuals, would be valuable to foreign spies.

“It’s about intelligence, human intelligence,” he said.

“To me, it seems focused on tracking certain people.”

Priscilla Moriuchi of Recorded Future, an East Asia specialist who left the National Security Agency last year after a 12-year career, cautioned that no one has put out any actual data or indicators showing Chinese state actor involvement in the Marriott intrusion.

In the last few months, the Justice Department has filed several charges against Chinese hackers and intelligence officials. A case filed in October marked the first time that a Chinese Ministry of State Security intelligence officer was extradited to the US for trial.

Prosecutors allege the operative, Yanjun Xu, recruited employees of major aerospace companies, including

GE Aviation, and attempted to persuade them to travel to China under the guise of giving a presentation at a university. He was charged with attempting to steal trade secrets from several

American aviation and aerospace companies.

Such investigations can be time-consuming and difficult. The Justice Department is training prosecutors across the country to bring more of

these cases, Assistant Attorney General John Demers told the Senate Judiciary Committee.

“We cannot tolerate a nation that steals the fruit of our brainpower,” he said. AP

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The Regions

Friday, December 14, 2018 • Editor: Dennis D. Estopace

BusinessMirror

Power projects in regions to get ₧1.26-B EU funding

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By Elijah Felice E. Rosales

@alyasjah

HE European Union (EU) on Thursday contributed €21 million (about P1.26 billion) in grants that will bankroll clean energy projects in the regions estimated to provide power to thousands of households.

The EU signed seven projects with various institutions and civil society groups for the implementation of projects that intends to supply clean energy to 40,000 households across t he cou nt r y. T hese projects, with a total cost of €27.3 million (about P1.637 billion at current exchange rates), are part of EU’s contribution to the government in achieving 100-percent electrification by 2020.

Mahintana-Solar Home Systems was awarded €5 million for the strengthening of off-grid lighting with renewable-energy solutions in the poor areas of Cotabato, Sarangani, Sultan Kudarat and Maguindanao. It will provide power to at least 5,000 households.

Yamog, on the other hand, received €4.5 million for the supply of sustainable energy to 5,000 households in Davao Oriental.

Dagupan forges ahead with biggest income among all cities in Region 1

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AGUPAN CITY—Humbled by its recent glory as the nation’s most child-friendly city under the component city category, Dagupan continues to inspire the people of Region 1 when it became the first city in Ilocos to barge into the P1-billion mark in its annual budget for 2019.

This after its Sangguniang Panlungsod (SP) finally passed the annual budget of the city during a special session called by Mayor Belen T. Fernandez on December 7. The SP passed the budget in the amount of P1.010 billion, an appropriation that will cover the various expenditures of the city government for the year 2019. The amount is the biggest annual budget ever approved in the history of the city and the highest among all eight cities in Region 1.

Only 50 square kilometers in land area and about one-fourth of it is fishpond that produces the tasty Bonuan bangus, Dagupan is today’s leading city in Region 1 in point of economic dynamism and opportunities as gleaned from last year’s competitive index of the Department of Trade and Industry in Region 1.

Councilor Jeslito Seen is confident the newly passed annual budget will be realized due to projected increased economic activities in the city next year.

Seen, chairman of the committee on finance and appropriations, moved for the passage of next year’s annual budget.

Seen said that of the approved annual budget, P366,421,887 will go to general public services; P331,650,180 to Social Services; P205,683,785 to Economic Services; and P126,244,146 to Other Services.

The budget for next year is only P62 million higher than the annual budget of Dagupan in fiscal year 2017 in the amount of P948 million.

Since Fernandez’s election in 2013 after serving for two terms as vice mayor, the city’s income rose dramatically by close to 50 percent. The annual budget of the city in 2014 was P628 million, which

increased to P691 million in 2015 and P768 million in 2016. When Fernandez took over, the annual budget of Dagupan, courtesy of the past city administration, was only P612 million.

Also approved by the SP during its special session is the Annual Investment Plan (AIP) of the city for FY 2019, including its supporting plans, in the amount of P1.48 billion.

Fernandez said that, while next year’s budget increased, there will be no increase in taxes and no new taxes will be levied upon the people and businesses.

She added the higher budget will be plugged through intensive collection of taxes, many of which, she said, will actually come from new businesses that have sprouted in the city during the past few years.

Among these is the Golden Dragon’s City Mall on Barangay Mayombo, which opened early this year. There’s also the SM Hyper Mart on M.H. del Pilar Street and Santa Lucia Realty, which is developing a high-end subdivision in Barangay Salisay.

Fernandez noted there are businesses that have come to the city and took advantage of the “no red-tape, no graft and corruption” policy adopted by the Dagupan City Investment and Development Board.

Other big investments coming to the city include Filinvest, which will soon begin building at least 11 condominium buildings with seven floors each in Barangay Lucao, according to the mayor.

She also expect the multi-story ACE Hospital, to be put up by Manila doctors and set to rise soon, also in Barangay Lucao.

Dagupan is currently the center of business, education and health care in Pangasinan with a population of more than three million people.

City Councilor Alvin Coquia said the budget of Dagupan next year is an indication of a vibrant economy and an unprecedented business boom in the city that was never experience before. Leonardo Micua

SSS to build processing center on donated Camarines Norte lot

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OCIAL Security System (SSS) President and CEO Emmanuel F. Dooc said they plan to build the SSS provincial office and processing center on a 1,000-squaremeter lot donated by the local government unit (LGU) of Camarines Norte.

“This piece of land will be helpful in bringing SSS services closer to the public.

It will benefit Bicolanos in Daet as social security protection is now within their reach,” Dooc said, noting that the center, after construction, is expected to accommodate 603,000 registered members.

He expressed gratitude to the Camarines Norte LGU, particularly Gov. Edgardo A. Tallado and Vice Gov. Jonah G. Pimentel for the land donation.

The provincial government of Camarines Norte, through its Sangguniang Pan-

lalawigan Resolution 474-2018, issued on September 26, 2018, granted Tallado the authority to donate the land to SSS. Based on the deed of donation, the SSS will build a service office and a processing center on the lot within three years. It will be the first SSS processing center in the province of Camarines Norte. The service office will be under the supervision of SSS Daet Branch, which currently serves more than 48,000 registered members and caters to an average of 800 transactions daily, firstsemester 2018 data revealed.

“The processing center will expedite the processing of claims filed by our members, pensioners and their dependents,” Dooc said. “A shorter processing time will let our claimants reap the benefits of their contributions to the pension fund.” Rea Cu

About 3,800 households will be provided solar home systems, while the other 1,200 households will gain access to hydropower.

Further, nongovernment group Kabang Kalikasan Ng Pilipinas Foundation Inc. was granted €3.9 million for energy access to four poor communities in Dinagat Islands and Siargao. The United Nations Industrial Development Organization was awarded €4.2 million for a renewable power technology in Tawi-Tawi.

The project aims to increase electricity access in the island that will improve delivery of community services, such as health and nutrition, education and sanitation.

The EU also poured in €3.7 million to the People in Need group for its renewable-energy access for off-grid communities and households in Northern Samar. Sequa Corp., for its part, received €2.2 million from the EU for its power project in Southwestern Tagalog Region and Central Visayas.

Moreover, Ateneo de Manila

University was granted €3.8 million for its clean energy living laboratories project. This project aims to develop centers of excellence on energy access, renewable energy and energy efficiency.

EU Ambassador to the Philippines Franz Jessen said the economic bloc received 73 applications on clean energy projects, most of which are targeted to assist communities in Mindanao.

He said the selection process assessed the relevance, feasibility and sustainability of the actions to be committed by the partner institutions and groups.

“The actions are intended to contribute to improve the quality of life of marginalized rural community groups, while, at the same time, mitigate the impact of climate change through assisting communities in rural areas to access renewable energies and employ energy efficient and disaster resilient technologies,” Jessen said in his speech at the awarding of the grants.

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Pampanga lantern to represent PHL at Jerusalem Festival of Lights

By Ashley Manabat Correspondent

C

ITY OF SAN FERNANDO—The Pampanga lantern or “Parul Sampernandu” made history as the official Philippine representative to the Jerusalem Festival of Lights at the Tower of David in Israel from June to July this year.

This is considered a cherry on top as lantern-makers of Pampanga report brisk sales less than t wo weeks before Christmas Day. The Pampanga lantern was featured in prominent locations abroad, including Geneva’s main train station, Gare Cornavin, to give residents and visitors a glimpse of Filipino culture.

It was also reported that Filipinos as far as Ostend, Belgium, and Viareggio, Italy; Toronto, Canada and Republic of Palau were able to see the Pampanga lanterns through live streaming on social media, as well as live coverage of local television networks.

As a result, the Pampanga lantern has emerged as a new symbol of peace, love, hope and

freedom worldwide other than its traditional recognition as an enduring Christmas icon to the great delight of lantern-makers here who are reporting a windfall in business.

On December 15 the annual giant lantern competition will have 10 competitors in this city, which has gained recognition as the Christmas capital of the Philippines.

The competitors include the return of barangays San Pedro and Del Carmen along with last year’s participants: Barangays Sindalan, Calulut, Telabastagan, San Agustin, Santa Lucia, Del Pilar, Del Rosario and four-peat champion Dolores.

The giant lantern competition, or “Ligligan Parul,” will be held at local mall, which have reportedly prepared a bigger venue for the festival to accommodate the growing number of local and foreign tourists.

The giant lantern competition is now on its 110th year and organizers said they made the festival bigger to allow more Capampangans and visitors to enjoy the annual Christmas tradition.

DOT partners with Ayala Group for nationwide food, travel fest

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Department of Tourism (DOT) has partnered with the Ayala Group in a nationwide food and travel festival dubbed “Kain Na!/Kaon Ta!” (Let’s eat!), which saw its grand regional lunch in Davao City over the weekend.

“Through ‘Kain Na!,’ we not only convey an invitation for guests to sample our local dishes but also showcase our own Filipino brand of friendliness and hospitality,” Tourism Secretary Bernadette Romulo Puyat said in her speech at the Abreeza Mall, where the festival took place from December 7 to 9. “Food will always be a top-ofmind consideration in the places we visit. It is in the daily itineraries of our tourists and comprise a third of total traveler expenditure.”

The launch was attended by President Duterte and Ayala Group Chairman Jaime Augusto Zobel de Ayala with Ayala Land Inc. CEO Bernard Vincent Dy, along with Secretary to the Cabinet Karlo Alexei

B. Nograles and other government officials and lawmakers.

Zobel de Ayala described the “Kain Na/Kaon Ta” events as “a beautiful opportunity to bring the public and private sectors together in the shared mission of promoting our country and our heritage.”

“At Ayala, we take our responsibility as developers of communities seriously and we take pride in our commitment to sustainability,” he added.

Zobel de Ayala said seven Ayala malls across the country will be home to the food and travel fest, “so that more of us Filipinos will share with us in celebrating our culture and our heritage.”

“We also look forward to the opportunity in learning more about farm tourism and new agriculture technologies, and ways in which we can continue to contribute to sustainable development whether as the public sector, private sector or as citizens, all of us together,” he added.

Exhibitors included hotels and restaurants, farm resorts, agro-industry groups, eco-farm

adventure parks, transport operators and academe, a statement from the organizers said.

The local tourism offices also presented specialty food products, coffee, vegetables, juices, handicrafts and culinary tour packages.

For his part, Duterte reaffirmed the importance of tourism in achieving inclusive growth and reducing poverty by creating more job opportunities for Filipinos.

He also lauded DOT’s approach in promoting Filipino cuisine as part of the country’s tourism attraction by making the Philippines a “center of food and gastronomy in the world.”

This initiative, the President added, would help create the image of the Philippines as a great culinary destination by bringing together local chefs, world-class dishes and other agricultural products.

“The unique but truly wonderful Filipino culinary experience is something that we should all be proud of,” Duterte said. “Let this gathering spark greater appreciation of our diverse cuisine as we steer Philippine agriculture and tourism into even greater heights.”

The project was started by Romulo Puyat when she was still undersecretary of the Department of Agriculture. Another food tourism projected that followed her to the DOT is the “Philippine Central Harvest,” which the agency now holds in partnership with Stores Specialists Inc. Launched last October in Ayala malls in Legazpi City and Cebu, the “Kain Na!” series moved to Seda Centrio Mall in Cagayan de Oro in November. Last weekend, it was held simultaneously at the Marquee Mall in Angeles City, Pampanga, and at the Ayala Mall Solenad in Santa Rosa, Laguna.

On December 19 the series moves to Bacolod City; and to other regions in 2019.

Romulo Puyat said the food and travel series showcases the country’s “widely diverse culinary culture all over the country, to create awareness and interest on distinct Filipino cuisine and tourism destinations.”

“Travel experience is really more fun when served with the fusion of the unique Filipino hospitality and delectable Filipino food,” she added.

Boracay business group may retract opposition to cruise ship operators

B

ORACAY Island, Aklan— The Boracay Foundation Inc. (BFI) is reviewing its earlier position on cruise ships making a beeline to this resort island.

BFI President Maylynn A. Graf said the business organization has been opposing the cruise ship industry after authorities cited Boracay’s environmental degradation.

Graf noted cruise ships included Boracay as a stop after Aklan Gov. Florencio T. Miraflores signed in 2015 a memorandum of understanding with the Miami, Floridaheadquartered Royal Caribbean Cruises Ltd. “Right now, since Boracay is already environmentally safe, we are considering to support the cruise ship tourism. We are, however, still studying if we could officially support it,” Graf said.

Graf said BFI’s review comes a f ter Borac ay w a s reopened to tourists on October 26, six months after it was closed for

FOREIGN tourists enjoy the white beach sand of Boracay. JUN N. AGUIRRE

rehabilitation. She also noted reports saying a cruise ship will be arriving in Boracay on December

18 bringing some 3,000 tourists.

Earlier, Niven Maquirang, Caticlan and Cagban jetty port admin-

istrator, said they are expecting some 28 cruise ship port calls at Boracay next year. Jun N. Aguirre

A10 Friday, December 14, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Please, don’t invade us!

T

HE latest reported public survey from the Social Weather Stations (SWS) is a little frightening when you think about it. Not for the answers, but for the basic question.

The survey was conducted in June, questioning 1,200 adults around the country. The headline of the press and media release from the company sums it up—“Second Quarter 2018 Social Weather Survey Special Report: 61 percent of Pinoys believe in the US defense commitment.”

The report reads: “In advance of the 67th year of the Mutual Defense Treaty, the Second Quarter 2018 Social Weather Survey found that 61 percent of adult Filipinos believe the US will defend the Philippines in case of an invasion by another country.”

Interestingly, less than half—47 percent—were aware of the Philippines-US Mutual Defense Treaty before the survey. That in itself is revealing considering the MDT has been in force for two generations and has been in the public discussion many times before, not least of which was when the Philippines kicked out the US military bases in 1991.

Further, the “left” seems to talk a lot about the MDT and gives the impression that ordinary Filipinos are greatly concerned about a US military presence. That may be true to a certain extent, but obviously the average Filipino is not very knowledgeable about the background.

The primary question was: “How much do you believe or not believe that the United States will defend the Philippines in case we are invaded by another country?”

This might be an important and valid question in South Korea that has been in a state of war with North Korea for 60 years. An average Ukrainian might be asked the question about support from the Nato countries concerning a Russian invasion. Certainly, in Israel there is a thought about what the US and Europe would do if Iran suddenly decided to invade.

However, it is hard to think of another country that is facing an imminent or even remote threat of invasion. Therefore, why would this survey be taken? Perhaps it shows how intellectually and psychologically connected and dependant of the US the Filipino is—or is thought to be by some people. This seems to be some sort of extreme colonial mentality.

We would also assume that SWS and the respondents were thinking about China and not Australia as the potential invader. This is because, according to the survey, belief in the US defense commitment is stronger among those aware of the PHL-China dispute in the West Philippine Sea. As expected, the higher the education of the respondent, the greater is her knowledge of the MDT. While the least educated—“none/some elem”—has the lowest belief that the US would rush to protect the Philippines. Elementary graduates and above are almost identical in “not believing” the US commitment to defend our nation.

However, the deciding factor of strong belief that the US will come to our defense is determined by extent of a person’s knowledge of the PHL-China dispute in the West Philippine Sea. We do not dispute the results of the survey or the honesty of the responses. However, there may be a hidden factor that clouds the results. The dispute is important, and China has taken advantage of the Philippines. But it is also valid to say that some of the discussion has bordered on fear mongering. Perhaps the “fear mongering” was successful to move public opinion, and that is not good.

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Three ideas James Jimenez

SPOX

T

HERE are three ideas that a democratic society wouldn’t miss: the absence of term limits for elected officials, preferential voting rights for some and a two-party system.

No term limits THE two main arguments for the removal of term limits goes like this: term limits prevent legislators from gaining policy experience, contributing to bad legislation; and that term limits deprive voters of their right to choose who should represent them.

Both are accurate enough, but neither tells the whole truth.

While term limits will prevent a legislator from gaining policy experience on the job, the mere fact that they are out of office does not mean they are actually prevented from honing their craft. In fact, when a legislator is out of office is the perfect time for him to do deep dives, unencumbered by the multifarious demands on incumbent officials, into their selected policy fields.

Ultimately, the opportunity to conduct in-depth studies will translate to better legislative proposals.

And while it is true that a term limit will prevent a voter from choosing to vote for a particular candidate again and again, there is great intrinsic value in letting voters infuse new blood into the government.

New elected officials represent potentially new ideas that are better, more innovative, and perhaps more responsive to perennial problems.

Preferential voting rights

THOSE who argue for preferential voting rights to be accorded to some specific classes of citizens—taxpayers, college graduates, or even just “good people”—are unwittingly advocating for the institutionalization

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of inequality. Even leaving aside the fact that being a taxpayer does not automatically make one better qualified to determine the future course of the nation (or vice versa), the creation of a privileged class represents nothing less than a regression of society.

Throughout our long history, we have struggled to secure equality in society for ourselves and for our descendants. We have, as a people, rejected the notion that not being born into the aristocratic classes should be a hindrance to advancement—thus installing in our pantheon of heroes the likes of Bonifacio and Mabini, alongside the patrician Rizal. To say now that a Bonifacio should have less of a voice in charting the future of the nation, compared to a Rizal, would be a betrayal of that struggle.

‘Talent competitiveness’ erosion

✝ Ambassador Antonio L. Cabangon Chua Publisher

The voting public may appreciate the ease with which they can label one side “good” and the other “evil,” but in doing so lose sight of the fact that they are increasingly no longer voting to promote their own interests, but simply in order to keep one or the other faction in power.

T

HE recently published 2018 IMD World Talent Ranking report ought to raise some eyebrows, since it showed that our country’s “talent competitiveness”—or our ability to develop, attract and retain highly skilled professionals—eroded significantly this year. Out of 63 countries surveyed, we ranked 55th, dropping 10 places from last year’s 45th.

The report ranks countries on three broad factors: “Investment and Development,” relating to the amount and quality of resources devoted to cultivating homegrown human capital; “Appeal” or the ability of an economy to retain local talent and attract foreign professionals; and “Readiness” or the “quality of skills and competencies” available.

In the Philippines, significant decreases were found among several indicators related to the Readiness factor. Where we ranked 11th for this factor last year, we were 37th out of 63 in 2018.

Oddly enough, our biggest drop in a singular indicator was for “labor force growth”—from fourth last year to dead last (63rd). Official data

appears to bear this out. According to the October 2016 and October 2017 Labor Force Surveys (LFS), 63.6 and 62.1 percent, respectively, of our working-age population were part of the labor force (meaning they were working or were actively looking for work). In October 2018, this labor force participation rate dropped to 60.6 percent.

What explains this? The Department of Labor and Employment (DOLE) has yet to release its technical report for the October 2018 LFS. But one possible explanation is that more of our working-age youth are choosing to stay in school rather than look for work—a choice made much easier with the free college tuition law, which we sponsored. There is

All these are signs that it remains a struggle to close the loop between our education system and the private sector, pointing to perennial problems like job-skills mismatch, outdated curriculums and broader challenges like the continuous exodus of our people to greener pastures abroad. also the ongoing shift to the K to 12 system where fewer students are graduating from college, albeit momentarily. In short, the apparent drop in our labor force growth could be caused by changes to our education system.

However, it’s in the other drops in Readiness indicators that the IMD’s latest report merits serious concern.

A portion of the data used is culled from an Executive Opinion Survey, answered by a representative sample of top and middle-level management executives. And it appears that fewer respondents to this Executive Opinion Survey are confident in the quality of the country’s education system.

Specifically, fewer agreed that our educational system, including university-level instruction, “[meet] the needs of competitive economy”; that management education meets the needs of the current business

Two-party system IT’S not difficult to understand the allure of a two-party system. Countless sophomores in all the universities across the countries have, at one time or another, railed against the proliferation of political parties and bemoaned the lack of any discernable ideological differences amongst them. The idea of a two-party system creates the sharpest possible dichotomy, and such duality seemingly makes the job of choosing between political parties much easier.

What these sophomores—and sophomoric advocates—fail to appreciate, however, is that two-party systems are particularly vulnerable to zero-sum scenarios. In a political environment characterized by strong political groupings (usually families) such as ours, this tendency to see one side’s gain as being exactly balanced by the other side’s loss will very quickly cause the degradation of politics into the mere pursuit of domination.

The voting public may appreciate the ease with which they can label one side “good” and the other “evil,” but in doing so lose sight of the fact that they are increasingly no longer voting to promote their own interests, but simply in order to keep one or the other faction in power.

community; and, that science is sufficiently emphasized in schools.

These findings echo a February 2018 JobStreet survey among employers on whether they were willing to hire today’s crop of senior high-school graduates. Among 503 company representatives, only 24 percent said they were willing, while 35 percent said they weren’t.

Up to 41 percent said they were undecided.

All these are signs that it remains a struggle to close the loop between our education system and the private sector, pointing to perennial problems like job-skills mismatch, outdated curriculums and broader challenges like the continuous exodus of our people to greener pastures abroad.

Leaving these unresolved will only lead to the further erosion of our talent competitiveness. But, while the issues are myriad and complex, it’s possible that the solution is simple. The government, the private sector, and academe need to sit down, formulate, and follow through on a comprehensive human capital development plan.

Sen. Sonny M. Angara was elected in 2013, and is now the chairman of the Senate Committees on Local Government, and Ways and Means.

E-mail: sensonnyangara@yahoo.com|Facebook, Twitter & Instagram: @sonnyangara.

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Opinion

VAW: End it now

These islands of dreams

BusinessMirror

Rev. Fr. Antonio Cecilio T. Pascual

Tito Genova Valiente

ANNOTATIONS

SERVANT LEADER

D

I

ECEMBER 12 marks the last day of the “18-Day Campaign to End VAW or violence against women” of the Philippine Commission on Women or PCW. This started on November 25, which aims to increase awareness of Filipinos on issues involving women violence and to strengthen programs or services of the government in protecting women’s rights.

LOILO has always been a favored island in memory. I have not lived in Iloilo for many years for the place to solder an existence in my mind; in fact, I have not lived at all in Iloilo. But each short visit to the place is always an incursion into a space that seems to go away forever. It is maybe because every time I am in Iloilo, I am conscious of an era that is gone.

The theme of the campaign is “VAW-free community starts with me.” True enough, before a community can even begin it should first start with oneself. All sectors private/public, NGO, schools and those occupying high government positions, including those in the barangay level, have a responsibility to protect women from any form of violence.

There is so much work to be done.

According to the 2017 National Demographic and Health Survey, 17 percent of Filipino women experienced physical abuse at the age of 15 while 5 percent are rape victims.

Most of those who are abused are either separated or widowed women as compared to married or single women. However, 3 percent of married women experienced physical abuse while they were pregnant; putting their lives and the unborn child in danger. The culprits for these abusive acts are their husbands or live-in partners. We can be certain there are still cases that are not reported out of fear, doubt and shame.

My dear brothers and sisters, it is against human dignity to maltreat anybody as we are created in the image and likeness of God. It’s not justifiable to say that women are inferior because of their physical and psychological state. Human dignity is not based on gender. Let us be reminded of God’s plan; man and woman were created not just to procreate but to make history alongside each other. How can we achieve this if we continue to abuse, underestimate, and set aside women? How can they contribute to family, community and country if

Iloilo as a city is the kind of site cultural historians aim to preserve, but you know it will never happen, this restoration, this preservation.

And so you make do with what you have, and what you see: a turn-ofthe-century building that huddles close to its modern reincarnation.

I was in Iloilo once more upon the invitation of Elvert Bañares, festival director of Cine Kasimanwa. Indefatigable and radical, which I like, Elvert was turning over the management of the said film festival to the neighboring province, Capiz.

Cinema has always been my passion and to lecture and to serve as jury are two opportunities that I always look forward to. But to give a talk and to judge while in a place that has a surplus of nostalgia and memories is another matter. To be in Iloilo and to be with Elvert and his group of filmmakers is to drive around the city and annotate on changes and development.

Iloilo is changing fast. The former airport in Manduriao is now a tony place with cafés and malls glistening and grand in their minimalist splendor. There are buildings demonstrating bad taste, but who cares? These other buildings can strike a chord that makes you think and look back at those structures with great designs. The old schools have retained their façade even as new structures announcing technologies mar their surroundings.

Everywhere, the bakeries in Iloilo are sweet entanglements of more memories. The visitors can bring back their own thoughts of childhood and milestones with these bakeries that seemed to have preserved all kinds of bread and cookies. Like the stores of yore, these bakeries are labor-intensive when it comes to the number of sales clerks and vendors. Then there is

we cannot guarantee their safety?

Pope Francis in his trip in January addressed the faithful believers of Peru where a similar culture of “machismo” is prevalent, thinking men are superior than women, which is the root cause of violence against women. The pope said: “We become accustomed to using the term ‘human trafficking.’” Upon arriving at Puerto Maldonado, at the airport I saw a sign that struck me: “Be on the watch for human trafficking.” This is a sign of growing awareness. But in truth we should speak of slavery: slavery for work, sexual slavery, slavery for profit. It is painful to see how in this land, which is under the protection of the Mother of God, so many women are devalued, denigrated and exposed to endless violence. Violence cannot be seen as “normal.” Violence against women cannot be treated as “normal,” maintaining a culture of machismo blind to the leading role that women play in our communities. It is not right for us, brothers and sisters, to look the other way and let the dignity of so many women, especially young women, be trampled upon.”

Gender equality should be practiced at all times. Man was created

by God to be the caretaker and we must do our share even to show the simplest gesture of respect to one another. VAW-free community starts with me.

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

The music’s stopping for Chinese IPOs overseas

By Nisha Gopalan Bloomberg Opinion

T

HE window looks to be shutting for Chinese companies listing overseas.

While Tencent Music Entertainment Group rose on its New York trading debut on Wednesday, trouble has been brewing under the surface. The music-streaming unit of Tencent Holdings Ltd. priced at the bottom of its marketed range, in a sign that international investors are losing their appetite for offerings from the world’s second-largest economy.

Tencent Music’s $1.1-billion sale added gloss to the biggest year for Chinese listings in Hong Kong and the US since 2014, when Alibaba Group Holding Ltd. carried out the world’s biggest IPO. But the piggy bank of upcoming offerings is becoming a lot less lucrative, as rising rates dim the allure of unprofitable technology companies and as China’s economy slows.

Take Hong Kong, where investors remain more wary of companies that have yet to turn a profit than their counterparts in the US. The city started allowing money-losing new economy firms and “pre-revenue” biotech companies to go public early this year. The resulting listings, from smartphone maker Xiaomi Corp. to food delivery super-app Meituan Dianping, are among those that are trading below their IPO prices. The Hong Kong listing of Nasdaq-traded biotech company BeiGene Ltd. is also under water.

Firms that sold shares in the US, including e-commerce platform Pinduoduo Inc. and electric-car maker NIO Inc., have fared better. Still, the surprisingly weak pricing of a technology star such as Tencent Music is an ominous sign. Unlike

companies such as Pinduoduo and NIO, Tencent Music is profitable, and an arm of a $390-billion Internet giant.

Another portent of trouble is the arrival in China of the dreaded down round. Interior design platform Qeeka Home Cayman Inc. went public in July at a valuation 29 percent below what Hong Kong private equity firm Cachet Capital paid for its stake four months earlier. Qeeka, which is backed by Baidu Inc., raised $150 million.

That was a rare occurrence at the time. But in November, the mood changed and IPO investors turned wary. That month, four Chinese firms went public in the US and Hong Kong at valuations below their last funding rounds, according to Asia Private Equity Review. They included Alibaba-backed online parenting firm BabyTree Group in Hong Kong and auto marketplace TuanChe Ltd. on Nasdaq. (Tencent Music wasn’t a down round.) Alibaba paid as much as 75 percent more than Babytree’s IPO price when it bought in at the May 28 funding round, according to the private equity database, while a Beijing government-backed fund invested in TuanChe at 20 percent more than the flotation price. To be sure, down rounds are no stranger to US firms. Square Inc., Box Inc. and Hortonworks Inc. all went public at lower valuations than they had when raising money from late-stage venture capitalists as far back as three years ago.

But their appearance in Chinese listings is a mark of the shift in sentiment.

In the past, Chinese companies tended to scrap IPOs rather than accept a lower valuation. That they continue to tap the markets at the risk of burning some investors shows the sense of urgency to get sales away before the window closes.

the river—clean where the other rivers of this nation are dank and defiled. Bridges cross parts of this river; mangroves are lush when one expects mud and blight.

In Iloilo, I was part of the Sandaan Expedition, a term that is a bit colonizing but is really aimed at creating the spirit of adventure. The said program is about the 100 years of Philippine cinema and we are giving lectures and talks to commemorate the cinema, which began, for plain reckoning, with the production of Dalagang Bukid by Jose Nepomuceno in 1919.

What is that film without talking of Atang de la Rama, the zarzuela superstar who made the move from theater to film and succeeded. Atang

Friday, December 14, 2018 A11

Iloilo is changing fast. The former airport in Manduriao is now a tony place with cafés and malls glistening and grand in their minimalist splendor. There are buildings demonstrating bad taste, but who cares? These other buildings can strike a chord that makes you think and look back at those structures with great designs.

The old schools have retained their façade even as new structures announcing technologies mar their surroundings. would be declared a National Artist, joining her husband, Ka Amado Hernandez, poet and labor activist.

From Iloilo, we traveled by land to Capiz.

It would be my first time in Capiz, a place that I remember as coming into our living room in my grandparents’ home in Ticao Island. When a storm raged, for some reason I do not have an explanation, the airwaves would clear and we could listen clearly to the programs in Roxas City. The language of Hiligaynon would cease to be strange as the voices floated into our conversation. We would recognize the similarity to the language of our small island. The radio would then play some songs and my

grandmother would hum then.

Long after my grandmother, Emilia, passed on, I would surf the YouTube and listen to these songs and discover them, identify them to be the music of the islands of Panay.

And I would hear myself humming the selfsame songs.

Those songs were not there when the van ferrying Elvert and I entered Capiz. The trip was not that long but we were tired and counted the kilometers at night.

“Capiz na po,” the driver said. I looked out for the usual welcome arch common in Luzon towns. I did not see the arch, instead I told Elvert, I could see a cow.

“Are you sure, it is a cow, sir?”

“Remember, this is Capiz,” Elvert was teasing me and encouraging me what he presumed correctly to be my scholarly interest and obsession in the “folk” and the “supernatural.”

The morning, during my lecture on women filmmakers from the beginning of Philippine cinema to the ’80s, I mentioned the cow.

The mostly teachers in attendance were amused. I was not apologetic. I felt I was not insulting the Capiznon and their cultures. I talked about how Aswang in the Bicol culture was not really evil but was in the pantheon of divinities. As with all kinds of colonization that infiltrate the mind, the Spanish conquistadores with the Spanish/European church they were bearing had to create a new image for the powerful deities of the native. Thus a powerful god was transformed into a malignant being; the “Babaylan” or “Asog” (in Bicol) who were men dressed as women and were potent sources of energies and power became demonized. Their craft were termed the works of witches and their strength the sources of malice.

And yet, Capiz, when culturally mapped, would yield more enchantment beyond its sea and fishes. National Artist Jovita Fuentes, who conquered Europe with what critics call “sublime interpretations” of Puccini heroines was a Capiznon. The grande dame of Philippine theater, Daisy Hontiveros Avellana, another National Artist, was from this part of Panay Island.

These artists of the putative nation and the many artists in film and arts are the true, trenchant meanings of witchcraft in this island and the other islands of the archipelago.

E-mail: titovaliente@yahoo.com

Public support needed to solve drug problem Dr. Jesus Lim Arranza Continued from A1

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HE recent raid on a suspected shabu laboratory inside the exclusive Greenhills Subdivision in San Juan City tells us how drug lords have become even more brazen with their illegal trade, despite President Duterte’s bloody all-out war on illegal drugs. The police raiding team seized P204 milion worth of chemicals and equipment that could produce up to 30 kilos of shabu per week.

With the debilitating effect of every gram of shabu on users, imagine how many young Filipino lives would be wasted if this shabu laboratory was not discovered. How long could this shabu laboratory been operating? This is just one of the questions hounding us after the reported discovery of this shabu laboratory in Greenhills.

This is the reason why, as chairman of the Federation of Philippine Indstries (FPI), we support the President’s all-out war on drugs.

The country’s drug problem cannot be solved with kid gloves.

It needs a strong and determined hand to address this social ill, like what Duterte is doing. And most important, the President’s campaign against illegal drugs needs

public support and understanding for it to fully succeed. And this is also the reason why, on a personal note, I chose to express my support for the President’s all-out war on drugs.

And for my thoughts on how to help save the country and its youth from the crippling effects of methamphetamine, and also to help secure our homes and streets from drug-crazed criminals, let me share my ideas on how we can help keep our streets drug-free.

I agree with the idea of making drug testing a mandatory requirement at the workplace and schools.

So long as the cost for testing will not be charged to the employee or student, I see nothing wrong with the procedure, unless one is a user,

The country’s drug problem cannot be solved with kid gloves. It needs a strong and determined hand to address this social ill, like what Duterte is doing. And most important, the President’s campaign against illegal drugs needs public support and understanding for it to fully succeed. And this is also the reason why, on a personal note, I chose to express my support for the President’s allout war on drugs.

especially the habitual user.

Personally, I don’t see it as an intrusion on one’s privacy but a measure to ensure that the person sitting next to you at your workplace or at school is not a drug user or a drug dependent.

I recall my grade school years when we were all required to undergo a screening test for tuberculosis. TB at that time was a deadly disease that reached epidemic levels.

And since the procedure was actually part of the measures to contain the spread of the deadly virus, all the parents consented to the procedure.

I am, therefore, surprised why critics of the government’s antidrug campaign are against the mandatory drug testing for school chidren and at the workplace. Most if not all of them claim anyway that drug users are sick people who need

professional help.

And on the same premise as the TB screening procedure, which is to contain the spread of the deadly virus, I am bewildered why some critics of the government’s anti-drug campaign are against the mandatory drug testing at schools and at the workplace, unless they want this medical or social ill to grow to uncontrollable levels.

I am also urging the officials of barangays and homeowners associations, especially those in the exclusive enclaves of the rich, to closely monitor the activities of the homes in their jusrisdiction, and to allow inspections whenever necessary, in accordance, of course, with the procedures allowed by law.

What the President’s war on drugs need today is public support and understanding. I know the issue is sensitive and controversial. And unless one has been a victim of a drugrelated crime, or at least a loved one, understanding the President’s war on drugs could be difficult.

I personally believe that this is what the country needs today, a firm and determined leader to ensure the success of an all-out war on drugs. President Duterte is that kind of a leader. In my lifetime, I have never seen a President who is ready to accept whatever fate that would fall on him just to see his anti-drugs campaign succeed. The President is determined to save the Filipino nation from the ill effects of illegal drugs.

2nd Front Page BusinessMirror

A12 Friday, December 14, 2018

www.businessmirror.com.ph

7.2-M foreign tourists seen by year-end–DOT

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Department of Tourism (DOT) projects foreign visitor arrivals to reach only some 7.2 million this year due to the closure of

Boracay Island. In her year-end briefing, Tourism Secretary Bernadette Romulo Puyat said, “I am not confident that we will reach our 7.4-million arrivals target this year because Boracay closed [for six months]. So it will be, maybe, 7.2 million.”

Despite the six-month closure of the resort island,

proclaimed one of the best beaches in the world by international travel publications, arrivals from January to October still grew 7.43 percent to reach some 5.9 million, she said.

The closure mainly affected inbound tourists from South Korea, which slipped 2.72 percent to some 1.3 million. “Boracay is such an important and popular destination, it gener-

ates about 80,000 tourists per month. If you compute for the six months that Boracay was closed, that’s close to 500,000 we lost,” said DOT Undersecretary for Tourism Development Planning Benito C. Bengzon Jr. “While we were able to divert some of the traffic to Cebu, Bohol, and Palawan, there might have been some which canceled outright,” he said. Based on talks with airlines providing charter services, “some [foreign tourists on charter flights] were also diverted to Asean destinations.”

Chinese tourists helped lift total visitor arrivals, as the market grew by 30.71 percent to 1.06 million for the 10-month period. The increase in Chinese tourists has been attributed to relaxation of visa requirements, with the warming of diplomatic ties between Manila and Beijing.

However, lawmakers worry that the visa-upon-arrival privilege extended to China was being abused, as some Chinese citizens arriving in the country as tourists actually work in online gaming centers.

See “Tourists,” A2

Vehicle sales dip 14.4% in January-November

V

By Elijah Felice E. Rosales

@alyasjah

EHICLE sales after 11 months slumped 14.4 percent, with all segments registering double-digit declines in November, according to data from the Chamber of Automotive Manufacturers of the Philippines (Campi) and Truck Manufacturers Association (TMA).

A joint Campi-TMA report showed total industry sales from January to November slowed 14.4 percent to 325,465 units, from 380,179 units during the same period last year.

Year-to-date sales of local car firms were further worsened by double-digit declines in November. Total sales during the month was down 23.4 percent to 31,258 units from last year’s 40,799 units.

Passenger car sales in November contracted 22.7 percent to 9,197 units from 11,901 units during the same month last year. Sales of commercial vehicle and Asian utility vehicles also fell 23.7 percent and 54 percent, respectively.

Local vehicle manufacturers were able to sell 17,594 light commercial vehicles in November, 13.5 percent fewer than last year’s 20,329 units. Light trucks, as well as trucks and buses, recorded double-digit sales declines, too.

In spite of the sales slowdown, Campi President Rommel R. Gutierrez said “we remain confident that the industry will continue to recover as the year ends.”

Toyota Motor Philippines Corp. remained to be the market leader with a share of 42.5 percent. It is trailed by Mitsubishi Motor Philippines Corp. with 19 percent, Nissan Philippines Inc. with 9.7 percent, Ford Motor Co. Philippines Inc. with 6.6 percent and Honda Cars Philippines Inc. with 6.5 percent.

2 police chiefs relieved over Chong aide’s slay

By Rene Acosta

A

@reneacostaBM

T least 16 cops, including the Rizal Provincial Police Office director and the Cainta police chief, were relieved amid the serious questions raised on the ambush-slaying of Richard Santillan, trusted aide and bodyguard of former Biliran congressman and election lawyer Glenn Chong.

Chong, who is seeking a Senate seat in 2019, had been the chief critic of the PCOS system and electoral reform advocate. He earlier aired the theory that he was the target of a liquidation squad that peppered with 30 bullets the sport-utility vehicle he lent to Santillan as the latter came home from a charity event for poor children.

Relieved of their posts were Rizal provincial police director Senior Supt. Lou Evangelista, Cainta police chief Supt. Pablito Naganag, 10 members of the Calabarzon Regional Intelligence Group and four other policemen from the Cainta police.

“I have issued the relief of the Provincial Director of Rizal, I have ordered the relief of the chief of police of Cainta. I also talked with the Highway Patrol Group for the relief of the Highway Patrol Unit team of Rizal,” said Region 4A police director Chief Supt.

Edward Caranza.

He said that all other policemen involved in the operation that resulted in the death of Santillan were also relieved of their posts.

Caranza said his order for the relief of the policemen was administrative in nature, and this is pending the official results of the investigation into Santillan’s death.

The Rizal Provincial Police Office earlier reported that Chong’s bodyguard had engaged policemen in a shootout at Barangay San Andres at around 1 a.m. on Monday. A woman, who was with the victim, also died during the operation.

The report claimed that Santillan ignored policemen who tried to stop him and sped away with the Toyota Fortuner (NOF-805) that he was driving which was first spotted along Eastbank Road, Cambridge Village, Cainta.

The vehicle does not have a validation sticker and verification showed it was last registered in 2015, police claimed.

Chong, who doubted the police’s report of a shootout, admitted that he owns the vehicle and Santillan was in Cainta for a gift-giving activity for the poor.

Despite his relief of the 16 policemen, Caranza stood by the report of the Cainta police that what happened was a legitimate police operation. “We are not saying that our police was wrong. What we are saying is that there may be excessive force,” he said.

Based on the police report, Santillan was involved in carnapping activities and in selling illegal drugs.

The Cainta police said that some 60 grams of shabu were recovered from Santillan during the shootout, a claim that Chong had also cast doubt on.

Companies BusinessMirror

Editor: Efleda P. Campos

PCC to review proposed merger of 2 port operators

T

By Elijah Felice E. Rosales

@alyasjah

HE Philippine Competition Commission (PCC) on Thursday said it will review further the proposed merger between two port operators that could affect market competition.

In a statement, the PCC said its Mergers and Acquisitions Office (MAO) has opened a second phase review on the proposed acquisition

by International Container Terminal Services Inc. (ICTSI) of shares in Manila North Harbor Port Inc. The review will allow the competition body to conduct a more detailed inquiry into the transaction.

The merger involves ICTSI’s ac-

quisition of shares in Harbor Center Port Terminal Inc., which will bring its holdings to 50 percent.

After the transaction, ICTSI will own and control half of Manila North Harbor, with the remaining shares managed by San Miguel Holdings Corp. (43.33 percent), IZ Investment Holdings Inc. (6.5 percent) and Petron Corp. (0.17 percent).

Initial market investigation by the PCC’s MAO assessed the transaction may affect the port industry, particularly those in the business of port operation and transshipment services in the Port of Manila. Under the competition law, the PCC has a period of 60 days to carry out the second phase review starting November 15.

The further review, however, does not mean that there is a conclusive finding of a substantial lessening of competition in the market, the PCC clarified. The second phase review only signifies, according to the agency, that a more in-depth look into the acquisition is required.

“Particularly, PCC’s merger review office seeks to investigate whether the transaction enhances the ability and incentive of the involved firms to engage in foreclosure of competitors where vertical

relationships between the ICTSI and Manila North Harbor operations are present, including transshipments,” the statement read.

The antitrust agency called on the public, stakeholders—including importers, exporters, custom brokers, shipping and cargo liners, freight forwarders, truckers, port stevedores and contractors—and trade association members to comment on how the transaction will affect the port industry.

ICTSI is a port operator dealing with international shipments and is located in various countries. It operates in Laguna, Olongapo, Batangas, Davao, Cagayan de Oro and South Cotabato, and owns the Manila International Container Terminal, a large cargo player in the Port of Manila.

Meanwhile, Manila North Harbor services domestic cargoes in the Port of Manila.

Ex-LTFRB chief: Law vs use of motorcycles as public-transport vehicles ‘antiquated’

By Lorenz S. Marasigan @lorenzmarasigan

T

HE law that prohibits the use of motorcycles for public transport is antiquated and is in dire need of amendments, a former chief of the Land Transportation Franchising and Regulatory Board (LTFRB) commented on the recent termination order against motorbike-hailing app Angkas.

Winston M. Ginez, who spearheaded the creation of policies that now govern transportation network companies (TNCs) like Grab when he was still the chairmain of the land transport regulator, said the prohibition on the use of two-wheeled vehicles for public transport is now not in tune with the demands of the time.

“The 1964-enacted Land Transportation and Traffic Code prohibits motorcycles to be used as a public-utility vehicle or common carrier. I agree that said prohibition is antiquated. It’s a bad law now, considering that motorbike ride sharing is now very popular

in Asia,” he said in a social-media post.

However, Ginez, a lawyer, noted that transport officials are bound by the law, whether it’s harsh or not.

“I agree that transportation law must be dynamic. It must and should keep abreast with the tides and flow of the changing times, especially in these ‘disruptive’ times. However, the hands of transport regulators and policy-makers are bound by our existing laws,” he said.

The Supreme Court on Wednesday effectively allowed transport regulators to resume the apprehension of Angkas riders, finding merit to the Department of Transportation’s (DOTr) petition.

A few hours after the decision, the LTFRB issued a resolution ordering its partrol units to apprehend and impound Angkas riders found to have been operating as public-utility vehicles (PUVs).

They are not prohibited to other business models such as parcel deliveries.

Ginez said that while he understands that the law should be implemented, lawmakers should also take a look into

Now Corp. rolls out 1st 4G product in Pasig

N

OW Corp. introduced on Thursday its first 4G product that aims to provide Internet connectivity to households in certain communities, partnering with businesses and the local government unit of Pasig City for its initial rollout.

RJ Torres, who heads the marketing division at Now Corp., said the company plans to accelerate the growth of its 4G product— called Now 4G LTE—by tapping businesses, local governments and entrepreneurs as platforms of customer activation.

The company calls these partners as NMPs or Network ng Mamamayang Pilipino (Network of the Filipino People), a play on its previous bid to become the new major player (NMP) in the telco arena.

“We want to bring our product to the residential areas through our local partners,” Torres said in an interview. “We are partnering with

them so they can give us knowledge on how to serve the communities.”

For its 4G product, Now Corp. uses its recently awarded 20 megahertz (MHz) frequency under the 3.5 gigahertz (GHz) band.

“We designed and engineered it so that each sector in our area is given optimized experience,” he said. “The maximum number of subscribers is 600 households within a 1.5-kilometer radius.”

Torres said this is Now Corp.’s response to the gap between the supply and demand for fiber-optic cables in the Philippines, noting the company will also be laying out fiber-optic cables in the areas where its 4G services are and will be available.

After Santa Lucia, Pasig, Now Corp. targets to also roll out its 4G services in Mandaluyong, Quezon City, Ortigas, Manila and Bonifacio Global City, through the NMPs.

Lorenz S. Marasigan

amending this already five-decadeold law.

“Why is it that for 54 years since the Land Transportation and Traffic Code was enacted, no forward-looking and innovative member of Congress sought the amendment of the law to allow motorcycles to be used as PUVs?” he asked.

Angkas plans to exhaust all legal means to continue its operations, citing the livelihood of 25,000 driverpartners, which have a safety record of 99.99 percent.

Friday, December 14, 2018

B1

4 bidders vie for Alsons Power coal plant in Zamboanga City

A

LSONS Power Group, the energy business of the Alcantara family, has trimmed the list of interested engineering, procurement and construction (EPC) contractor for its 105-megawatt (MW) San Ramon Power Inc. (SRPI) coal-fired power plant in Talisayan, Zamboanga City.

“We now have four bidders. The fifth one was not able to comply with some of the bid requirements,” Alsons Power Vice President for Project Development Joseph Nocos said.

The four global construction and engineering companies are Dongfang Electric International Corp. headquartered in Chengdu, China; Singaporebased Jurong Engineering Ltd.; Northeast No.1 Electric Power Construction Co. Ltd. (NEPC 1), a wholly owned subsidiary of China Energy Engineering Group; and Shandong Electric Power Construction Co. (Sepco III), a subsidiary of Power Construction Corp. of China. “Evaluation is ongoing. They submitted technical proposals which we are evaluating now. The final selection and signing of the contract is in April,” Nocos said.

Shortly after an EPC contractor is selected, the company will award a Notice to Proceed for the P17-billion power project, which will provide baseload

power to Zamboanga City and nearby areas. Project financing will be 70 percent, roughly P12 billion, sourced from banks and 30 percent from internally generated funds.

Nocos said the company has tapped Land Bank of the Philippines as the lead arranger.

“Hopefully, financial closure is in June, before the start of construction,” he said.

Construction is expected to begin in the first half of 2019, while commercial operations are set to commence in 2022. Once operational, the plant will play a crucial role in stabilizing power supply in the Zamboanga Peninsula.

Alsons Power is Mindanao’s first and most experienced independent power producer. It currently operates four power facilities in the island with a total generating capacity of 363 MW, serving key cities such as Cagayan de Oro, Davao, Iligan, General Santos and Zamboanga. Alsons Power is also entering the renewable-energy sphere through run-of-river hydroelectric power projects with a total hydro capacity potential totaling more than 145 MW in Negros Occidental, Sarangani, Davao Oriental, Zamboanga del Norte, the two Agusan provinces, and Surigao del Sur. Lenie Lectura

ATM SAFETY TIPS

Bancnet, an online banking facility that allows ATM cardholders to enjoy the convenience and security of making banking transactions without the hassle of going to bank branches or payment centers, has issued safety reminders when using ATMs especially during this holiday season. One is to cover the keypad when entering your PIN and another is to make transactions in well-lit ATM locations operated by a reputable banking facility.

Please see related story on B2.

B2

Companies BusinessMirror

Friday, December 14, 2018

PSE STOCK QUOTATIONS

December 13, 2018

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

BDO UNIBANK 130.4 130.5 129 131 127.1 130.5 2828340 368964592 -12536159 BANK PH ISLANDS 94.75 94.8 94.05 94.95 94.05 94.8 1869500 177121612 3768688.5 CHINABANK 27.2 27.4 27.6 27.6 27.2 27.2 53600 1467680 CITYSTATE BANK 4.57 7.59 6.99 7.59 6.99 7.59 600 4434 EAST WEST BANK 12.08 12.1 11.7 12.18 11.68 12.1 512400 6205970 1030698 METROBANK 80.15 80.75 80.5 80.75 79.9 80.75 3494050 280747070 71837380.5 PBCOM 17.72 20 20 20 20 20 500 10000 PHIL NATL BANK 42.5 43 43 43.4 42.25 43 26000 1120905 302055 PSBANK 72.5 73.9 72.3 72.5 72 72.5 7240 522565 PHILTRUST 110.1 119 119 119 119 119 200 23800 -23800 RCBC 28 28.5 28.3 28.3 28 28 851900 24103780 -16800 SECURITY BANK 160.9 161.2 162.5 163.5 160.9 160.9 564850 91815783 -7490844 UNION BANK 64.9 65 65 65 64.8 65 184550 11995160 -11869777 BRIGHT KINDLE 1.51 1.59 1.5 1.57 1.49 1.57 221000 331070 52150 BDO LEASING 2.19 2.2 2.2 2.2 2.2 2.2 32000 70400 COL FINANCIAL 15.42 15.9 15.52 15.9 15.52 15.9 45200 716780 FIRST ABACUS 0.57 0.67 0.67 0.67 0.67 0.67 10000 6700 FERRONOUX HLDG 4.04 4.09 4.09 4.13 3.92 4.09 103000 419650 IREMIT 1.4 1.45 1.4 1.4 1.4 1.4 14000 19600 NTL REINSURANCE 0.9 0.94 0.97 0.97 0.89 0.94 602000 552400 -188820 PHIL STOCK EXCH 181 181.9 179 181.6 179 181.6 1450 261076 16290 SUN LIFE 1811 1849 1811 1811 1811 1811 10 18110

INDUSTRIAL ALSONS CONS 1.23 1.24 1.24 1.24 1.23 1.23 78000 96190 ABOITIZ POWER 32.8 33 33 33.3 32.6 33 1001600 33082810 -4041710 BASIC ENERGY 0.245 0.249 0.25 0.255 0.245 0.249 2210000 549470 FIRST GEN 19.82 19.9 19.4 19.92 19.38 19.9 4558900 90053070 51363312 FIRST PHIL HLDG 64.15 64.2 65.1 65.1 63.8 64.2 67410 4335027 -1201017 PHIL H2O 5.8 5.82 5.6 6.42 5.6 5.8 3440700 20783390 17840 MERALCO 375 380 386.2 387.4 375 375 414550 157328550 72718968 MANILA WATER 27.3 27.5 26.9 27.55 26.9 27.3 740000 20218950 18962710 PETRON 8.3 8.36 8.23 8.36 8.18 8.36 1823300 15059893 5785841 PETROENERGY 4.04 4.05 3.98 4.05 3.98 4.04 4700000 18710090 PHINMA ENERGY 0.98 0.99 0.99 1.03 0.96 0.99 8678000 8654750 -2443980 PHX PETROLEUM 10.86 10.96 10.86 10.96 10.78 10.96 22400 241926 PILIPINAS SHELL 47.75 47.8 47.8 48 47.65 47.75 207700 9933360 -1042100 SPC POWER 5.2 5.25 5.22 5.26 5.2 5.25 456100 2372507 -58986 AGRINURTURE 17.16 17.2 17.1 17.3 17.1 17.2 715200 12313402 -346888 BOGO MEDELLIN 105 108 100 110 100 109.8 380 41351 CNTRL AZUCARERA 16.88 16.9 16.96 16.96 16 16.88 3400 57104 CENTURY FOOD 15.1 15.38 15.1 15.7 15.1 15.38 707000 10864034 4056352 DEL MONTE 6.51 6.6 6.5 6.7 6.5 6.6 24800 161763 11050 DNL INDUS 10.38 10.4 10.4 10.48 10.34 10.4 1284700 13360778 6691060 EMPERADOR 7.08 7.17 7.09 7.15 7.01 7.08 5488200 38849265 -14800523 SMC FOODANDBEV 82.5 82.55 82.5 83.4 82.3 82.55 272460 22518019 1045313 ALLIANCE SELECT 1.01 1.02 1.07 1.07 1.02 1.02 5756000 5950550 -207820 GINEBRA 24.05 25 24.05 25 23.85 25 9800 235530 170700 JOLLIBEE 294.6 294.8 294 295.2 293.4 294.6 484920 142896044 14438820 MAXS GROUP 10.7 10.72 10.24 10.76 10.24 10.7 450400 4781642 -471164 MG HLDG 0.168 0.173 0.173 0.173 0.173 0.173 70000 12110 PEPSI COLA 1.34 1.35 1.36 1.38 1.33 1.35 247000 336320 -279970 SHAKEYS PIZZA 10.28 10.66 10.4 10.66 10.28 10.28 1291800 13434954 -345280 ROXAS AND CO 1.89 1.93 1.86 2.05 1.86 1.93 2881000 5584670 RFM CORP 4.65 4.75 4.7 4.75 4.65 4.75 147000 687550 -95000 SWIFT FOODS 0.123 0.127 0.123 0.123 0.123 0.123 70000 8610 UNIV ROBINA 128.4 128.5 128.6 129.4 127.7 128.5 1279290 164384129 -6203446 VITARICH 1.71 1.72 1.76 1.79 1.7 1.71 6038000 10497210 332060 VICTORIAS 2.32 2.47 2.32 2.33 2.32 2.32 11000 25560 CONCRETE B 78.05 88.9 78.05 78.05 78.05 78.05 20 1561 CEMEX HLDG 1.88 1.89 1.75 1.98 1.75 1.88 59188000 111445890 -37470300 DAVINCI CAPITAL 6.56 6.91 6.5 7.36 6.5 6.89 933100 6493403 -33750 EAGLE CEMENT 14.76 14.78 14.7 14.98 14.7 14.78 76400 1127932 EEI CORP 8.08 8.1 8.14 8.2 8.09 8.09 59900 486135 -208170 HOLCIM 6.1 6.12 6.1 6.12 6.1 6.1 7900 48250 MEGAWIDE 18.32 18.36 18.38 18.48 18.14 18.36 3902400 71766482 8405460 PHINMA 8.2 8.27 8.3 8.3 8.03 8.27 9100 75163 VULCAN INDL 1.76 1.77 1.8 1.8 1.76 1.77 4996000 8862050 365490 CHEMPHIL 171.8 200 200 200 200 200 10 2000 CROWN ASIA 1.66 1.76 1.76 1.76 1.74 1.76 34000 59650 12240 LMG CHEMICALS 4.3 4.31 4.3 4.35 4.3 4.31 87000 374470 PRYCE CORP 5.53 5.66 5.51 5.52 5.51 5.52 32500 179384 -44160 GREENERGY 2.2 2.23 2.33 2.36 2.18 2.2 45381000 103,796,070( 59,098,919.9999) INTEGRATED MICR 9.05 9.08 9.3 9.37 9.04 9.05 1207700 10996393 2702546 IONICS 1.83 1.84 1.7 1.85 1.7 1.83 1045000 1875870 PANASONIC 5.88 5.99 5.88 5.88 5.88 5.88 1600 9408 SFA SEMICON 1.36 1.42 1.41 1.42 1.33 1.42 160000 220160 CIRTEK HLDG 31.05 31.5 31.5 31.6 31.1 31.5 10500 328760

HOLDING & FRIMS ABACORE CAPITAL 0.61 0.62 0.63 0.65 0.61 0.61 12347000 7774770 280420 ASIABEST GROUP 27 27.3 25.8 29.35 25.05 27.3 4540500 118360255 92364500 AYALA CORP 930 930.5 925 935.5 925 930.5 147380 137278405 -23709240 ABOITIZ EQUITY 54.95 55 53.7 55 52.6 55 784330 42567541 17147476.5 ALLIANCE GLOBAL 12.18 12.2 12.08 12.26 12.08 12.2 13187100 160741374 37581798 ANSCOR 6.5 6.53 6.5 6.5 6.5 6.5 20000 130000 130000 ANGLO PHIL HLDG 0.81 0.82 0.82 0.82 0.82 0.82 1000 820 ATN HLDG A 1.41 1.42 1.43 1.43 1.39 1.42 3334000 4689610 ATN HLDG B 1.41 1.43 1.43 1.43 1.41 1.43 49000 69470 COSCO CAPITAL 7.24 7.39 7.3 7.44 7.22 7.25 434100 3170452 767385 DMCI HLDG 12.84 12.88 12.86 12.9 12.78 12.88 8020400 103250892 29688740 FILINVEST DEV 9.91 9.98 9.99 10.02 9.82 9.98 1852400 18470700 718781 FJ PRINCE A 5 5.1 5 5.1 5 5.1 3000 15040 FORUM PACIFIC 0.204 0.24 0.21 0.21 0.203 0.205 410000 85030 GT CAPITAL 957 959.5 942 959.5 942 959.5 37210 35542045 22936110 HOUSE OF INV 5.88 6 6 6 6 6 200 1200 JG SUMMIT 51.95 52 52.15 52.35 51 51.95 1494530 77655025.5 1718750 JOLLIVILLE HLDG 4.16 5.77 5.5 5.5 5.5 5.5 1000 5500 LODESTAR 0.55 0.57 0.57 0.57 0.55 0.56 31000 17250 LOPEZ HLDG 4.13 4.15 4.18 4.18 4.1 4.15 339000 1401040 -160480 LT GROUP 16.66 16.8 16.84 16.9 16.76 16.8 2952700 49653364 74010 MABUHAY HLDG 0.61 0.62 0.62 0.63 0.6 0.61 762000 464210 -43000 METRO PAC INV 4.69 4.72 4.8 4.84 4.69 4.69 25693000 122079710 -66897400 PACIFICA 0.036 0.038 0.036 0.038 0.036 0.038 7900000 286600 PRIME ORION 2.31 2.35 2.36 2.36 2.3 2.3 331000 767990 PRIME MEDIA 1.17 1.25 1.19 1.25 1.19 1.25 989000 1176980 REPUBLIC GLASS 2.6 2.65 2.6 2.6 2.5 2.6 380000 958000 SOLID GROUP 1.3 1.33 1.3 1.33 1.3 1.33 19000 24870 SYNERGY GRID 450 505 447.6 460 447.4 450 140 62974 SM INVESTMENTS 950 955 943 968 934 955 129180 123314880 34020595 SAN MIGUEL CORP 147 147.2 154.5 156.5 146 147 1252570 188387973 -108518770 SOC RESOURCES 0.74 0.8 0.74 0.74 0.73 0.74 70000 51660 -14660 TOP FRONTIER 271.2 279.8 280 280 279.8 279.8 125220 35061598 50398 WELLEX INDUS 0.244 0.25 0.245 0.25 0.242 0.25 5760000 1409670 ZEUS HLDG 0.196 0.227 0.227 0.227 0.227 0.227 10000 2270

PROPERTY ARTHALAND CORP 0.56 0.58 0.56 0.57 0.56 0.56 507000 285460 ANCHOR LAND 9.72 10.4 10.4 10.4 10.4 10.4 2000 20800 AYALA LAND 42.2 42.35 42 42.35 41.9 42.35 11485100 483839515 102055090 BELLE CORP 2.33 2.34 2.37 2.37 2.33 2.34 1565000 3668120 -3094890 A BROWN 0.78 0.79 0.78 0.79 0.77 0.78 850000 659740 CITYLAND DEVT 0.86 0.87 0.85 0.88 0.83 0.86 24000 20320 CROWN EQUITIES 0.247 0.249 0.249 0.249 0.246 0.249 3840000 945610 779970 CEBU HLDG 6 6.39 6.08 6.4 6.08 6.4 279600 1752764 406732 CEB LANDMASTERS 3.97 4.01 3.94 4.02 3.93 4.02 282000 1126990 CENTURY PROP 0.405 0.41 0.4 0.41 0.4 0.41 1670000 676150 166350 CYBER BAY 0.405 0.41 0.36 0.41 0.36 0.405 5900000 2324600 DOUBLEDRAGON 17.72 17.78 17.56 18 17.56 17.78 377400 6712096 1339602 DM WENCESLAO 7.98 8.03 7.97 8.08 7.94 7.98 73100 585076 808 EMPIRE EAST 0.475 0.48 0.48 0.48 0.48 0.48 330000 158400 FILINVEST LAND 1.44 1.45 1.43 1.45 1.42 1.44 8568000 12338500 -2731820 GLOBAL ESTATE 1.03 1.04 1.08 1.08 1.03 1.04 4166000 4331430 -503660 8990 HLDG 7.73 7.75 7.65 7.75 7.65 7.75 2177400 16862180 -154800 PHIL INFRADEV 2.38 2.39 2.54 2.55 2.37 2.38 18439000 44976360 368670 MEGAWORLD 4.8 4.81 4.77 4.82 4.76 4.8 13471000 64704870 -38069.9996 MRC ALLIED 0.405 0.41 0.41 0.41 0.4 0.41 17850000 7216100 -652050 PHIL ESTATES 0.47 0.475 0.455 0.47 0.455 0.47 240000 111850 PRIMEX CORP 3.51 3.54 3.58 3.58 3.5 3.51 1518000 5390430 ROBINSONS LAND 20.95 21 21 21.2 20.9 21 2527400 53107425 5762125 PHIL REALTY 0.375 0.39 0.375 0.39 0.375 0.38 740000 283600 ROCKWELL 1.99 2.01 1.97 2.01 1.97 1.99 73000 144600 SHANG PROP 3.1 3.12 3.11 3.12 3.09 3.09 33000 102290 STA LUCIA LAND 1.24 1.25 1.26 1.26 1.22 1.24 402000 497540 SM PRIME HLDG 34.8 35 35.7 36 34.8 34.8 8615800 305566740 -8614625 STARMALLS 5.35 5.41 5.34 5.42 5.24 5.35 164100 878701 PTFC REDEV CORP 35.05 38.5 39.6 39.6 38 38.5 400 15570 VISTA LAND 5.12 5.13 5.15 5.15 5.13 5.13 4327700 22261525 -11028715

SERVICES ABS CBN 19.8 20.05 19.6 20.1 19.54 20.05 313800 6196640 GMA NETWORK 5.27 5.3 5.3 5.3 5.26 5.3 34500 182536 MANILA BULLETIN 0.33 0.35 0.33 0.345 0.33 0.345 60000 20400 GLOBE TELECOM 2022 2030 2020 2050 2018 2030 110750 224507650 52726010 PLDT 1134 1150 1154 1155 1134 1134 129525 148042175 -14740095 APOLLO GLOBAL 0.04 0.041 0.04 0.041 0.04 0.04 5900000 237100 DFNN INC 7.21 7.92 7.21 7.92 7.21 7.92 4000 28911 IMPERIAL 1.91 2.07 2.06 2.13 1.91 2.07 62000 128640 ISLAND INFO 0.108 0.109 0.114 0.114 0.109 0.109 3280000 364500 ISM COMM 5.8 5.81 5.71 5.95 5.62 5.8 8174700 47114502 -363358 JACKSTONES 3.1 3.36 3.14 3.36 3.14 3.36 5000 15920 NOW CORP 3.35 3.36 3.25 3.41 3.2 3.36 2546000 8428190 513150 TRANSPACIFIC BR 0.405 0.41 0.41 0.41 0.4 0.405 10340000 4168900 -12150 PHILWEB 3 3.01 3.03 3.05 2.96 3 1196000 3587590 -2806030 2GO GROUP 16.44 16.9 17.4 22.8 16.44 16.44 6495800 121,690,358( 4,054,079.0001) ASIAN TERMINALS 13.5 13.68 13.5 13.84 13.5 13.5 218600 2960224 2732000 CEBU AIR 73.5 74 73.15 74.05 73.15 73.5 397360 29247146 -7445518.5 CHELSEA 6.67 6.68 6.62 6.8 6.62 6.68 930200 6241920 -10050 INTL CONTAINER 95.8 95.95 96 96.4 95.05 95.8 3056400 292810838.5 -57687001 LBC EXPRESS 14 14.4 14 14.4 14 14.4 200 2840 LORENZO SHIPPNG 0.72 0.74 0.77 0.79 0.71 0.71 191000 144100 3700 MACROASIA 14.32 14.42 14.3 14.5 14.3 14.42 245300 3535810 550102 METROALLIANCE A 2.04 2.11 2.1 2.13 1.96 2.11 1591000 3231070 PAL HLDG 8.25 8.45 8.25 8.26 8.25 8.25 2100 17333 HARBOR STAR 3.15 3.16 3.07 3.15 3.06 3.15 2184000 6777820 9020 ACESITE HOTEL 1.45 1.57 1.55 1.58 1.41 1.57 3582000 5068160 WATERFRONT 0.66 0.67 0.68 0.68 0.66 0.66 807000 540070 IPEOPLE 11.28 12 11.58 12 11.58 12 2200 26326 STI HLDG 0.73 0.74 0.64 0.73 0.63 0.73 39705000 27438400 5459920 BERJAYA 3.36 3.37 3.07 3.37 3.04 3.36 16797000 54055980 -169310 BLOOMBERRY 8.37 8.4 8.05 8.43 8.05 8.37 9958500 82984485 12128744 LEISURE AND RES 3.37 3.38 3.34 3.51 3.34 3.38 243000 833540 MANILA JOCKEY 5.25 5.45 5.24 5.48 5.24 5.45 27600 147436 PREMIUM LEISURE 0.84 0.86 0.83 0.87 0.82 0.84 14005000 11795820 -859650 TRAVELLERS 5.28 5.29 5.26 5.29 5.25 5.28 147700 775612 -219521 METRO RETAIL 2.37 2.39 2.28 2.4 2.25 2.37 4386000 10345080 428770 PUREGOLD 42.6 42.7 42.65 42.7 42.6 42.7 1437900 61379725 -40311900 ROBINSONS RTL 76 76.2 75 76.2 75 76 306070 23254499 11534977 PHIL SEVEN CORP 112.1 114 112.1 114 112.1 114 410 46179 SSI GROUP 2.34 2.36 2.36 2.39 2.28 2.35 8299000 19235210 1260020 WILCON DEPOT 12 12.1 11.94 12.22 11.84 12 1256500 15075774 102326 APC GROUP 0.405 0.415 0.41 0.415 0.4 0.415 1790000 725800 141750 EASYCALL 17.48 17.5 18.98 18.98 17.48 17.5 516900 9177292 12600 GOLDEN BRIA 318 324.6 311.2 325 311.2 324.6 2940 949554 IPM HLDG 7.18 7.2 7.2 7.2 7.2 7.2 11500 82800 PAXYS 3.06 3.47 3.06 3.47 3.06 3.47 7000 21830 -11830 PRMIERE HORIZON 0.315 0.325 0.315 0.325 0.315 0.32 240000 76800 SBS PHIL CORP 7.46 7.49 7.2 7.5 7.15 7.5 80700 587473 -18750

MINING & OIL ATOK 15 15.3 15.2 15.2 15.02 15.02 7300 109740 APEX MINING 1.58 1.59 1.59 1.6 1.58 1.58 1549000 2457180 ABRA MINING 0.0019 0.002 0.002 0.002 0.0019 0.002 1885000000 3669800 ATLAS MINING 2.55 2.68 2.52 2.55 2.52 2.55 132000 332820 -5100 BENGUET A 1.08 1.23 1.07 1.2 1.07 1.2 16000 18940 CENTURY PEAK 1.98 1.99 1.95 1.98 1.94 1.98 1626000 3205140 1950 DIZON MINES 7.04 7.23 7.01 7.25 7 7.05 1100 7794 FERRONICKEL 1.67 1.69 1.69 1.69 1.66 1.69 676000 1133680 -50370 GEOGRACE 0.206 0.216 0.202 0.218 0.202 0.216 1540000 322340 LEPANTO A 0.1 0.102 0.101 0.102 0.1 0.102 2410000 241580 LEPANTO B 0.102 0.11 0.101 0.11 0.101 0.11 120000 12210 MANILA MINING A 0.0069 0.0076 0.0069 0.0069 0.0069 0.0069 12000000 82800 MANILA MINING B 0.0068 0.0078 0.0065 0.0065 0.0065 0.0065 12000000 78000 MARCVENTURES 1.2 1.25 1.25 1.37 1.2 1.25 1075000 1393330 NIHAO 1.07 1.09 1.1 1.1 1.05 1.09 185000 198010 NICKEL ASIA 2.2 2.21 2.26 2.28 2.18 2.2 1203000 2676410 475860 OMICO CORP 0.58 0.61 0.55 0.61 0.55 0.61 28000 15490 ORNTL PENINSULA 0.94 0.95 0.95 0.95 0.92 0.95 644000 601940 -3800 PX MINING 2.64 2.65 2.65 2.65 2.64 2.64 950000 2513070 -26590 SEMIRARA MINING 24.2 24.3 24.6 24.8 24.15 24.2 2449700 59659605 -49218915 UNITED PARAGON 0.0059 0.006 0.0063 0.0063 0.006 0.006 29000000 174600 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 181500000 2178000 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 2000000 24000 -24000 PHINMA PETRO 3.06 3.3 3.36 3.36 3.06 3.06 88000 271370 PXP ENERGY 15.62 15.7 15.56 15.94 15.54 15.62 796600 12428004 -2170282

PREFFERED DD PREF FGEN PREF G FPH PREF C LR PREF MWIDE PREF PNX PREF 3A PCOR PREF 2B SMC PREF 2B SMC PREF 2C SMC PREF 2E SMC PREF 2F SMC PREF 2H SMC PREF 2I

98.8 101.5 465 1 98.5 99.05 970 75.1 76.1 72.55 74.6 73.3 73.55

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.74 5.12

99 102 480 1.02 101 101.9 1000 75.95 76.55 74 74.95 74 74.8

99 103 472 1.02 97.5 101.9 1000 75.9 76.6 73 75 74 74.25

99 103 472 1.02 101 101.9 1000 75.95 76.6 73 75 74 74.25

99 102 472 1.02 97.5 101.9 1000 75.9 76.05 73 74.95 74 74.25

99 102 472 1.02 101 101.9 1000 75.95 76.05 73 74.95 74 74.25

5110 1650 4000 1000 650 10 30 1730 61630 8500 30800 5650 4000

505890 169310 1888000 1020 63480 1019 30000 131378.5 4691879.5 620500 2309250 418100 297000

750000 -

18.98 5.22

18.54 5.22

18.98 5.22

18.54 5.2

18.98 5.22

42200 38800

791456 202522

-785880 168602

WARRANTS LR WARRANT

1.94

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.41 XURPAS 1.32

1.95

1.91

1.99

1.9

1.94

195000

379670

-

4.5 1.33

4.58 1.24

4.58 1.35

4.37 1.24

4.5 1.32

242000 7553000

1076410 9819500

-26660 -1092320

EXHANGE TRADE FUNDS FIRST METRO ETF

111.7

112

111.3

112

111

112

2790

311923

-

Editor: Efleda P. Campos

PTT eyes more stations in ’19

P

Lenie Lectura

@llectura

TT Philippines Corp. is eyeing to increase its target number of new stations to be established in 2019.

Company President and CEO Sukanya Seriyothin said the oil firm will raise its target number of new stations next year to more than 30.

“We have achieved our new target of 30 stations for this year, and we hope to raise this target in 2019.

So, most likely, we have more than 30 new stations next year,” Seriyothin said.

By end of 2018, PTT Philippines would have around 150 new stations in various parts of Luzon and the Visayas. Some of its newest stations are located in Metro Manila, Central Luzon and Southern Luzon.

“We have been expanding slowly, but surely,” Seriyothin said, “but definitely, we are continuing our

ATM safety reminders

T

HIS weekend is potentially one of the busiest shopping days of the year, with long queues at automated teller machines (ATMs) expected for obtaining convenient cash.

Unfortunately, this is also the time when ATM-related crimes are at the highest.

To protect yourselves from loss and theft, here are 10 ATM safety reminders for the holiday season: Be aware of your surroundings.

Always be vigilant when using an ATM, especially at night. Pay close attention to the area throughout the entire transaction.

If possible, choose ATMs in welllit areas. Avoid poorly lit machines with too much obstructions.

Have your ATM card ready before you approach a machine. Don’t wait until you’re at the ATM before you take out your card from your wallet or purse.

Visually check an ATM for signs of tampering or for possible skimming devices. Check the keypad, card slot, and cash receptacle. If you see or touch anything suspicious, report it to the bank. Do not proceed with your transaction and go to another ATM. Cover the keypad and screen when entering your PIN. Memorize your PIN and never write it down.

Do not let others see your transaction amount. Be sure to get your receipt.

Put away your cash, ATM card and receipt as soon as you’re done with

the transaction. Never count your cash in front of the machine or in view of other people.

Do not accept help from other people when using an ATM. Do not tell anyone your PIN. If you notice anyone or anything suspicious in the area or if you feel unsafe, cancel your transaction and leave the area immediately.

Always monitor your bank balances for signs of suspicious activities.

Report any problems to your bank.

To avoid withdrawing and carrying big amounts of cash, there’s instaPay. With instaPay, you can securely send or transfer money from your bank account or e-wallet using your smartphone, tablet or laptop.

Simply access your bank’s or electronic money issuer’s (EMI) mobile app or through Internet banking anytime, anywhere you may be. The recipient instantly receives the money in their bank account or e-money account, without any charges deducted.

The maximum amount that can be sent is P50,000 per transaction.

There is no limit to the number of transactions a sender can make in a day. A sending fee is charged to the sender, regardless of the amount or where it is sent.

Electronic payment network BancNet is the clearing switch operator of instaPay. It has 120 members including banks, affiliate switch networks and EMIs. Ask your bank now if they support instaPay.

Pilipinas Shell, SM Advantage renew partnership to reward motorists

L

OYAL Shell customers can continue earning points and enjoying rewards offered by the SM Advantage Card as Pilipinas Shell and Marketing Convergence Inc. (MCI), the issuer of the SMAC, recently renewed their long-standing partnership.

Shell, the global leader in power, energy, and fuels technology, and SM Advantage, an SM Retail Group affiliate, held the contract signing to reaffirm their continued collaboration on the SMAC rewards program at Top of Citi in Makati.

Present during the signing ceremony were Pilipinas Shell Petroleum Corp., executives led by Cesar Romero, president and chief executive officer; and Anthony Lawrence Yam, vice president for Retail. MCI President Baldwin Golangco and Assistant Vice President Iya Quintana were also in attendance. Both parties expressed satisfaction and gratitude for their partnership that started in 2013 when Pilipinas Shell first became a partner of SM Advantage.

“We have always been very happy to be associated with SM’s official customer loyalty program. Shell has been pushing to make our customers’ journey better. Therefore, we are

glad to be able to continue rewarding them with every transaction they make and help them redeem items for their needs,” Romero said.

The partnership between SM Advantage and Shell has always proven to be a viable undertaking. Since the start of the partnership, SMAC’s member base grew by double digits, and transactions made at Shell increased. “Partnering with the number one fuel brand in the country has made our rewards and loyalty program more exciting with more members now gassing up at their stations,” Golangco said. “As Shell expands its network of participating stations, we’re glad that they are able to cater to more SMAC members.”

At present, there are over 700 participating Shell gas stations nationwide. SMAC members earn one point for every P250 spend on any Shell fuels, lubricants or items from Shell Select or deli2go. Points can be redeemed at any of the SM stores or affiliates—The SM Store, SM Supermarket, Uniqlo, Forever 21, Ace Hardware, Watsons, Toy Kingdom, to name a few. They can also avail themselves of a 40 percent discount on labor at Shell Helix Oil Change+ centers.

expansion mode not just here in Luzon, but also in the Visayas.”

A budget of P5 billion was allocated for expansion of its service stations and coffee-shop chain in the next five years.

Marketing Director Thitiroj Rergsumran said the opening of new Café Amazon stores is also part of the expansion.

“We are opening more Café Amazon stores in the Philippines inside and outside PTT gasoline stations,” he said, adding that the latest to open was the branch at the posh McKinley Hill in Taguig City.

Currently, seven Café Amazon stores are already operating, three of them in Metro Manila (McKinley

MUTUAL FUNDS

HIll, SM City North Edsa Annex, and PTT Edsa Munoz). The rest are located in PTT SCTEx (Tarlac), PTT Pulilan (Bulacan), PTT Dasmarinas (Cavite) and PTT Lubao (Pampanga).

“Soon, you will see more Café Amazon inside shopping malls, particularly in Tagaytay and Batangas,” Rergsumran added.

The entry of the Thai-brand Café Amazon to the Philippine market was part of the business expansion of the diversifying PTT Thailand.

Outside Thailand and the Philippines, the coffee-shop chain has also branched out to other parts of the region, as well as in Japan and Oman.

December 13, 2018

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 252.54 -11.68% 1.29% 3.34% -13.87% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3911 -12.29% 5.92% 3.13% -12.88% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8988 -13.14% 2.45% 1.7% -15.11% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8924 -11.75% N.A. N.A. -12.25% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8268 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.258 -11.11% 0.2% 2.5% -12.56% MBG EQUITY INVESTMENT FUND, INC. * ****** 115.15 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8366 -14.32% N.A. N.A. -15.72% PAMI EQUITY INDEX FUND, INC.* 49.3793 -10.21% 2.41% N.A. -12.44% PHILAM STRATEGIC GROWTH FUND, INC.* 516.26 -10.25% 1.19% 2.71% -12.27% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2599 -8.46% 2.86% N.A. -10.28% PHILEQUITY FUND, INC.* 36.7661 -8.77% 3.39% 5.37% -10.53% PHILEQUITY PSE INDEX FUND INC.* 4.9751 -9.96% 3.18% 5.17% -12.32% PHILIPPINE STOCK INDEX FUND CORP.* 831 -9.78% 2.99% 5.32% -12.13% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8632 -8.76% 0.68% N.A. -10.74% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 4.0855 -8.86% 2.81% 3.61% -10.8% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9574 -10.15% 2.97% N.A. -12.43% UNITED FUND, INC.* 3.5144 -7.59% 4.32% 4.3% -9.75% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** 111.0456 -9.46% 4.15% N.A. -11.84% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9339 -14.45% 1.99% -0.6% -15.74% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1703 -6.32% N.A. N.A. -7.5% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6563 -9.4% -1.04% -0.7% -11.12% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.2026 -9.11% 1.33% 1.22% -10.35% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.5289 -7.54% -2% -0.94% -8.7% GREPALIFE BALANCED FUND CORPORATION* **** 1.307 -8.91% N.A. N.A. -10.17% NCM MUTUAL FUND OF THE PHILS., INC* 1.844 -5.68% 1.32% 2.7% -7.45% PAMI HORIZON FUND, INC.* 3.5406 -8.27% 0.22% 1.94% -9.63% PHILAM FUND, INC.* 15.9325 -7.88% 0.25% 1.78% -9.26% SOLIDARITAS FUND, INC.* ******** 2.0706 -6.41% 1.45% 3.04% -7.65% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6678 -6.92% 1.16% 1.92% -8.22% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9264 -7.77% 0.31% N.A. -9.2% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03501 -3.1% -0.41% 1.53% -3.02% PAMI ASIA BALANCED FUND, INC.* $0.933 -10.39% 2.01% -1.35% -10.89% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4368 -5.03% 3.32% 1.76% -5.91% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0281 -7.1% N.A. N.A. -7.56% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 342.86 1.84% 2.1% 1.8% 1.71% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8546 -1.91% -0.69% -0.6% -1.99% COCOLIFE FIXED INCOME FUND, INC.* 2.9628 5.4% 5.33% 5.25% 4.99% EKKLESIA MUTUAL FUND INC.* 2.1289 1.21% 1.63% 1.26% 1.27% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2069 -0.23% 0.13% 0.25% -0.42% GREPALIFE FIXED INCOME FUND CORP.* P 1.5634 -3.03% -0.31% -0.81% -2.86% PHILAM BOND FUND, INC.* 3.9166 -3.49% -0.32% -0.19% -3.29% PHILEQUITY PESO BOND FUND, INC.* 3.4886 0.04% 0.84% 0.23% -0.46% SOLDIVO BOND FUND, INC. * 0.8918 -3.38% -0.8% N.A. -3.4% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7648 -0.59% 1.37% 0.63% -0.44% SUN LIFE PROSPERITY GS FUND, INC.* 1.538 -0.88% 1.03% 0.16% -0.75% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $447.68 0.48% 2.3% 3.05% 0.39% ALFM EURO BOND FUND, INC. * Є212.33 -0.86% 0.96% 1.56% -0.65% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1242 -0.86% 0.88% 1.87% -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 -4.73% -0.44% 1.09% -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* $1.0293 -4.44% -0.89% -2.61% -4.12% PHILAM DOLLAR BOND FUND, INC.* $2.156 -4.08% 0.67% 2.56% -4.22% PHILEQUITY DOLLAR INCOME FUND INC.* $0.056962 -0.81% 0.88% 1.86% -0.42% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.87 -4.74% 0.36% 1.64% -4.74% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.6 2.7% 1.83% 1.53% 2.54% PHILAM MANAGED INCOME FUND, INC.* 1.1798 1.94% 0.59% 0.48% 1.94% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2167 2.6% 2.24% 1.54% 2.63% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0152 1.63% N.A. N.A. 1.65%

* - 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

www.businessmirror.com.ph

BusinessMirror

Friday, December 14, 2018

B3

B4 Friday, December 14, 2018

ELLE KIDS WEAR YOUR STYLE

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S kids these days are more encouraged to express their individuality, one of the best ways for them to exercise this is by making their own style choices. Paris lifestyle brand Elle Kids recently held a fun runway event for young girls to help build their confidence by bringing out their stylish best.

Held on November 24 at the Ogalala Store in Shangri-La Mall, the event offered the right mix of discovering one’s person a l st yle i n bu i ld i ng confidence. Guests were treated to a special workshop facilitated by former beauty queen and professional image consultant Abbygale Arenas-de Leon before enjoying the ultimate Elle Kids shopping spree.

Foc u sed on br i ng i ng out a nd supporting a child’s uniqueness, the workshop also intends to help parents be more knowledgeable and sensitive on how to better support their child in their learning.

For its FW2018 collection, Elle Kids will be injecting some holiday fun in its signature French tricolor—red, white and blue. Combining delicateness, modernity, and sophistication, Elle Kids’ FW2018 collection presents a lot of great options for mixing and matching this holiday season.

As the kids and parents check out Elle Kids’ latest collection, Arenas-de Leon’s workshop, themed “Building Confidence Through Style”, serves as a great eye opener in taking pride in

one‘s personal style and knowing how to best present yourself, which is a great way to build confidence.

She divided her workshop into several parts, which are all meant to be interactive and encouraging to the participants to really express themselves. Starting with “Identifying One’s Dream”, she t hen gets t he participants to be more comfortable in front of the camera through an impromptu photoshoot. She also had a workshop expounding on how to believe in one’s dreams and be bold enough to pursue it. There’s also a part on how parents are able to support their children’s dreams.

She also gave parents insights on how to be great supporters and motivators to their children through big and small ways.

After the photoshoot, the workshop ended with a fun kiddie runway show featuring the latest from Elle Kids and the actual participants to test their confidence and make them feel more at ease even when facing a crowd.

Elle Kids originated from fashion magazine Elle, which has become a wellrecognized international lifestyle brand that best represents the Paris way of life. Check out its holiday collection at Ogalala Store in Shangri-La Plaza Mall, Ayala Malls The 30th and at leading department stores nationwide.

TOYOTA PHL INAUGURATES 1-MW SOLAR ARRAY Toyota Motor Philippines Corp. (TMP) recently inaugurated its 1-megawatt (MW) solar array at its manufacturing/assembly plant in Santa Rosa City. The new facility is one of TMP’s major initiatives to minimize its carbon footprint and help mitigate the effects of climate change, based on the global Toyota Environmental Challenge 2050. TMP’s 1-MW solar array is among the first batch of projects that qualifies after the Philippine government signed the joint crediting mechanism (JCM) partnership with the Japanese government last year. JCM is one of Japan’s ways to effectively address climate change by funding leading low-carbon technologies and systems in developing countries, and purchasing the carbon credit from the project. Under the JCM, the Japanese government will provide a subsidy to TMP, which will cover 30 percent of the total cost of solar panels, inverters and monitoring device. TMP also partnered with Spectrum, a Manila Electric Co. subsidiary, which provided technical expertise and carried out the solar-array installation on a 10,000-square-meter area at the roof of TMP’s material-handling operations building. With the solar array supplying 4 percent of the company’s annual electricity requirements, TMP will be able to reduce production operation’s carbon-dioxide emissions by 12 kilograms for every vehicle produced, or around 790 tons per year. It is also estimated to generate energy-cost savings of around P10 million annually. The ceremonial lights-on of the 1-MW solar-array scale model was led by (from left) TMP Executive Vice President Tomohiro Iwamoto, TMP President Satoru Suzuki, Meralco President Oscar Reyes and Spectrum President Jose Rainier Reyes.

NEW PVB PRESIDENT TO ASSUME OFFICE STARTING DECEMBER 1

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HE board of directors of the Philippine Veterans Bank (PVB) confirms the appointment of Renato A. Claravall as its new president and chief operating officer effective December 1.

Claravall has been a director of PVB since 2015. Prior to this, he was the senior vice president and chief finance officer of Benguet

Corp. from 2010 to 2015, and served as a director in various wholly owned companies of Benguet Corp. His distinguished career in banking and finance spans 45 years in both commercial and investment banking, including various senior-management positions in several financial institutions both locally and abroad. He is also a member of the Sons and Daughters Association Inc. being the son of World War II veteran Juan J. Claravall.

SEN. BINAY GRACES SARANGANI FESTIVAL

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EN. Nancy S. Binay, chairman of the Senate Committee on Tourism, is the guest of honor of Sarangani province at the recent 26th foundation day and 16th MunaTo Festival at the provincial capitol grounds in Alabel.

She also opened the municipal village’s exhibit, a main attraction in the annual festivity, which showcases local products, cuisine, tourist attractions and cultural heritage of the seven municipalities; and also touredthe craftconferenceandexhibition,which displayedtheintricate hand-weaving tradition of the B’laan, Tagakaolo, T’boli lumad tribes,

and the Maguindanaon, Maranao and Taosug Moro communities.

She also witnessed demonstrations on the weaving of the exquisite B’laan Mabal Tabih fabric; and Bai Estelita Bantilan, a B’laan igem (mat) weaver who was conferred the Gawad Manlilikha ng Bayan (national living treasure) by the National Commission on Culture and the Arts.

As a tribute to its ancient inhabitants, the province instituted MunaTo Festival, which is derived from the B’laan phrase “muna toh”, or “first people”.

TRUSTED PARTNER OF EVERY FARMER, TRADER NOW IN THE PHILIPPINES

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REEN Culture, the trusted partner of every farmer, trader and breeder, is finally here in the Philippines, and was launched on October 15 and 16. Held at the Anahaw Function of Manila House, which was transformed into a green tropical paradise, the two-day gathering brought together Carrington Trading’s clients, friends, partners and other movers and shakers in the poultry, swine and feed-mill industry.

Hosted by Markki Stroemm and graced by “Queen of Soul” Jaya, the launch was spearheaded by Carrington Inc. Chief Executive Officer (CEO) Pinky Tobiano, along with special guests South Korea Consul General Kim Hongkon,

trade director Domingo Tolentino, and Daeho Co. Ltd. CEO Dr. Lee Hyung-ho. Several lucky winners were also able to take home exciting prizes at the event, including a Samsung tablet and JBL speakers sponsored by Intellismart, distributor of Samsung and JBL in the Philippines; a staycation at Makati Shangri-la; and two round-trip tickets to Korea.

Developed by Daeho, the manufacturer of veterinarymedicine products and feed supplements in Korea, Green Culture is essentially a dried yeast base that is composed of Saccharomyces cerevisiae and is rich with metabolites, such as amino acids, enzymes, vitamins and minerals. This promises higher product stability as a result of state-of-the-art fermentation technology, which provides a better amino-acid profile compared to competitors. In addition, Green Culture lessens the need for antibiotics, so no residue is seen on its products.

Green Culture is available nationwide and is exclusively distributed by Carrington Trading Inc., located in Quezon City. To get in touch with agents, e-mail at noreengeronimo@ carringtontradinginc.com.

In photo are (from left) Pinky Tobiano, Pianne Tobiano-Sinfuego, Robin Tan (Marshall Farms) and Ping Geronimo.

RAPTORS TEAR WARRIORS APART

Sports BusinessMirror

C1

| Friday, December 14, 2018 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THE Raptors’ Kyle Lowry (bottom) holds onto the ball against the Warriors’ Draymond Green as the Kings’ Nemanja Bjelica goes to the basket against the Timberwolves’ Andrew Wiggins. AP

NBA RESULTS Boston 130, Washington 125, OT Brooklyn 127, Philadelphia 124 Charlotte 108, Detroit 107 Cleveland 113, New York 106 Indiana 113, Milwaukee 97 Memphis 92, Portland 83 New Orleans 118, Oklahoma City 114 Dallas 114, Atlanta 107 Utah 111, Miami 84 Sacramento 141, Minnesota 130 Toronto 113, Golden State 93

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ASHVILLE, Tennessee—Paul Stewart has a very big goal for the next stage of his already lengthy hockey career, and that’s helping women follow in his footsteps by officiating in the National Hockey League (NHL).

Stewart, being inducted on Wednesday night into the US Hockey Hall of Fame, said Katie Guay will be working the upcoming Beanpot tournament in Boston after being an official at the 2018 Winter Olympics. Stewart, who refereed 1,010 NHL regular-season games, 49 Stanley Cup playoff games and two NHL All-Star Games, says he had a small part in helping Guay.

“I want to see someone break that glass ceiling,” Stewart said. “It doesn’t take an X or Y chromosome to put your arm in the air and call a penalty. It only takes brains and guts. And that’s it. My next goal is to have lots of great women officiating.”

Stewart joined David Poile, general manager of the NHL’s Nashville Predators, three-time Olympic medalist and US national team captain Natalie Darwitz, former Michigan coach Red Berenson and the late Leland “Hago” Harrington being inducted. NHL Commissioner Gary Bettman also presented the 2018 Lester Patrick Award to the late Jim Johansson.

Darwitz, who currently coaches Division III Hamline in Saint Paul, Minnesota, said women being officials in the NHL is possible. She said she couldn’t shoot a puck like a man or skate as fast but believe women could be referees. She mentioned Guay and Kristine Langley, who’s currently a referee for men’s game at the D-III level.

“If you know the game well enough, that’s certainly a huge possibility that could happen in the future,” Darwitz said. “And I would love to see that.”

Five women took part in the NHL’s officiating combine in Buffalo in August, one more than 2017. Stephen Walkom, the NHL’s director of officiating, told The Associated Press (AP) in September that the league is open to anyone testing themselves at the combine and the pool is growing with more women playing hockey.

What the NHL is looking for in officials applies to men and women. Walkom said qualities need include being an exceptional skater to keep up with the pace of

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By Michael Wagaman The Associated Press

AKLAND, California—Kyle Lowry had 23 points and 12 assists to lead a balanced Toronto offense while leading scorer Kawhi Leonard sat out, Serge Ibaka added 20 points and the Raptors dominated Golden State from the start, routing the Warriors, 113-93, on Wednesday night to complete a season sweep.

Danny Green scored 15 points, Pascal Siakam had 13 and Fred VanVleet added 10 to help the Raptors improve to a National Basketball Association (NBA)-best 23-7, matching the best start in franchise history.

They did it despite not having Leonard for a second consecutive night. Toronto’s star forward has a sore right hip and was questionable before the game before being ruled out less than 30 minutes before tip-off.

The Raptors also lost 7-foot center Jonas Valanciunas to a dislocated left thumb in the first half.

Kevin Durant had 30 points, seven rebounds and five assists for Golden State. The Warriors had won four straight heading into a much-anticipated showdown between two teams many expect to reach the NBA Finals.

Despite playing the second half of a backto-back following a 123-99 win over the Los Angeles Clippers on Tuesday, Toronto appeared to be the fresher team. The Raptors repeatedly beat the sluggish Warriors to loose balls and outrebounded the two-time defending champs, 48-40.

It was Toronto’s first win in Oakland since February 8, 2004.

The Raptors beat the Warriors in overtime earlier this season behind a season-high 37 points from Leonard.

Golden State didn’t have Stephen Curry or Draymond Green for that game, but both were back for the rematch while Leonard sat out.

It hardly mattered.

Toronto led by 18 in the first half and was up, 93-67, early in the fourth following a three-point play by Greg Monroe. Warriors Coach Steve Kerr benched his starters midway through the fourth as the Oracle Arena crowd filed for the exits.

Curry scored 10 points on 3-of-12 shooting. Green was 1 for 5 and finished with two points as Golden State went 6 for 26 on three-pointers.

KINGS ARE CLICKING SACRAMENTO Coach Dave Joerger wants his team used its speed to run right past its opponents.

When the Kings are clicking, it’s hard to slow them down.

Nemanja Bjelica made four of Sacramento’s franchise-record 19 threepointers and finished with 25 points, helping the Kings beat the Minnesota Timberwolves, 141-130, on Wednesday night.

Sacramento shot a season-best 58.1 percent (50 for 86) from the field in its fifth win in six games. It also had 33 fast-break points.

“I think it was probably a pretty exciting game to watch if you’re a fan—we enjoyed it as well,” Joerger said. “Ball was moving. We’re better when we attack.”

Buddy Hield and Bogdan Bogdanovic each scored 20 points for Sacramento, and rookie Marvin Bagley III had 17 points and 10 rebounds.

Andrew Wiggins scored 25 points for Minnesota, and reserve Derrick Rose finished with 20. Karl-Anthony Towns had 19 points and 11 rebounds.

The Timberwolves remained winless in 10 road games against Western Conference opponents. They have just two road wins this season, tied for second worst in the NBA. “We score 130 points—80 in the second half—shoot over 50 percent and lose. The disappointment is in our defense,” Timberwolves Coach Tom Thibodeau said. “You can’t jog back against them. We did that and they got easy baskets.”

The athletic Kings had seven players score in double figures. Hield made five threes, part of a 19-for-38 performance from behind the arc for Sacramento.

The Kings led 63-50 at halftime, but the Timberwolves opened the third quarter with 11 straight points and 21 of 26 overall. Sacramento then responded with 11 straight points, including consecutive three-pointers by Iman Shumpert, and never trailed again.

The Kings opened the fourth quarter with a 16-7 run, including three threepointers by Yogi Ferrell, to open a 13-point lead.

“They ran the floor fast, they never stopped. We just had to make it hard for them and try to take things away from them, but we didn’t really do that,”Wiggins said.

“They made a lot of shots. We could have done better at taking it away from them and forcing them off the line. So it’s back to the drawing board.”

Former referee suggests women officiating in NHL play, and Bettman told the AP that being as qualified as other candidates is the key.

“I don’t view any limitations in our ability to continue to attract knowledgeable, smart, hardworking professionals, whether they’re male or female,” Bettman said.

Talking about being inducted, Stewart got emotional and teared up. The man who had 288 penalty minutes in 65 games played in the WHA and NHL joked he felt like he’d had an onion in his face all day.

“You’ve seen a side of me not a lot of players ever saw,” Stewart said. “I used to make them cry.”

The induction ceremony was a sellout event on Wednesday night at a hotel a couple blocks from the Predators’ arena thanks to Poile, the man who built Nashville’s NHL franchise from the ground up as an expansion franchise. Poile, already the NHL’s longest-tenured and winningest general manager, currently is in his 37th straight season after spending his first 15 with Washington.

Poile also was general manager of the 2014 US Olympic men’s team and associate general manager for the 2010 team that won silver in Vancouver.

“I’m a lucky guy,” Poile said. “I was born into a hockey family, so I have no regrets and I have no complaints.”

Being inducted in the same year that the US women won Olympic gold for the first time in 20 years made this even more special for Darwitz. The youngest ever player named to the US women’s national team at 15, she wound up captain of the US women’s national team from 2007-10 and won Olympic silver in 2002 and 2010 and bronze in 2006.

Darwitz, the fifth woman inducted individually into this hall, said people now know more about women’s hockey thanks to increased media attention and social media. AP

RETIRED referee Paul Stewart (right) poses with his plaque before being inducted into the US Hockey Hall of Fame along with (from left) former Michigan coach Red Berenson, three-time Olympic medalist Natalie Darwitz and Nashville Predators General Manager David Poile on Wednesday in Nashville, Tennessee. AP

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Business

C2 Friday, December 14, 2018

NU spikers on a roll in Myanmar

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HE Philippines continued its solid showing in the 19th Asean University Games volleyball tournament after University Athletic Association of the Philippines men’s champion National University (NU) defeated Indonesia, 25-14, 2523, 25-13, to make it to the gold-medal round on Thursday in Naypyitaw, Myanmar.

Except for a close second set, the Philippines was dominating in the semifinals match to extend its undefeated run to three games and assure itself of a podium finish.

The Filipinos surpassed the bronze-medal

achievement it got in the biennial meet for the student-athletes in the region two years ago in Singapore.

Up next for the Philippines is a rematch with defending champion Thailand, which fashioned out a 25-19, 25-20, 25-17 victory over Myanmar in the other semifinals duel, on Friday.

The Filipinos pulled off a shocking 30-28, 25-23, 25-19 win over the Thais, in last Sunday’s opener.

Like the Philippines, Thailand is also 3-0 in the tournament.

BULLPUPS KEEP CROWN

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ATIONAL University (NU) made short work of Far Eastern University-Diliman, 25-21, 25-22, 25-21, to regain the boys’ championship of the University Athletic Association of the Philipines Season 81 highschool volleyball tournament on Wednesday at the Filoil Flying V Centre.

The Bullpups won the best-of-three series, 2-0, for their third crown in the last four years.

Mac Arvin Bandola was again the force in defending the net and accounted for nine of NU’s 13 blocks.

Bandola finished with 19 points, while Jomar Ocampo had three blocks for a 13-point outing in his final game for the Bullpups.

Jose Magdalino Javelona had 14 points, 12 receptions and nine digs, while Jomel Codilla and Ranz Cajolo each scored 10 markers for the Baby Tamaraws, who ended up as runners-up for the second straight year.

Javelona earlier received the season Most Valuable Player trophy and 1st Best Outside Spiker award.

The other individual awardees were University of Santo Tomas’s Rey Miguel de Vega (2nd Best Outside Spiker and Best Server), Lorenz Señoron (Best Opposite Spiker) and Tracy Prudenciado (Best Libero), Adamson University’s Nathaniel del Pilar (1st Best Middle Blocker), NU’s Ocampo (2nd Best Middle Blocker) and Diogenes Poquita (Best Setter).

S’WOODS RESUMES HUNT FOR CROWN

MANILA Southwoods’s Aidric Chan, 17, putts for par at the Baguio Country Club.

URIGAO braces for a two-title romp and Manila Southwoods resumes its title retention bid starting on Friday in the 69th Fil-Am Invitational Golf Tournament in Baguio City.

Team Surigao I carded 114 points at Camp John Hay (CJH) for a three-day aggregate of 323 and a 17-point lead over Che Lus I in the Fil A contest with Don Petil Ramon Capistrano scoring 29s and former Tourism Secretary Ace Barbers and Lito Camo each carding a 28.

Guam-based Che Lus I got 29s from John Quinata, Jesse Quenga and 28 each from Warren Pelletier and Mike Castro to stay at second spot. Mizuno-Power Systems kept third third spot with 296 after a 110.

In Fil D, Surigao II came scored 94 points for 247 to catch Macquarie Links Sydney, which made 88 for 244 at second spot. They trail leader Waterlympics by only one point.

Jose Cadiz had a 25, Vic See came in with a 24 and Orly Mabutas and Santi Lim added 23 and 22 points, respectively, for Surigao II. Waterlympics had a third day output of 85 for 248.

Edgar Lee made 28 points to lead Forest Hill Palmer to a 98 effort and a 319 total in Am A and shadow by three points San Miguel, which made 96 for 312.

Tiyo Paeng shot a flight best 112 to zoom to a tie for third spot with 311 with Mizuno X-1R (108). Day two leader Benlife fell to fifth after an 88 for 310.

Square and of Compass of Nueva Ecija had big round of 97 points for a 274 for a 29-point lead going into the last round in Am D. NBI Golf Team 157 carded 76 points for 245—only two off surging Moto, which made 85 points to overtake Cool Jocks and Monterey, which tied for fourth with 241 after a 76 and 78, respectively.

Southwoods, meanwhile, enters the third round carrying a 31- and 36-point lead in the Fil and Am flights, respectively, leads that left the rest of the field fighting for crumbs.

“That is a really big lead and knowing that their players can really play well,” summed Jude Eustaquio, whose Forest Hills trailed by four points Fil Championship second-placer Royal Northwoods.

The Forest Hill golf manager and team captain hopes to get big points from his “big guns”—pint-sized Rupert Zaragosa, who could shoot well at the longer CJH course after two days at the challenging and shorter Baguio Country Club.

“We are not giving up but all we want is a respectable score,” added last year’s individual runner-up, who lost by countback to Joong Hyun Kim of Southwoods.

But with the Japanese duo around—Yuto Katsuragawa and Aguri Iwasaki—and cousins Airdric Chan and Carl Corpus—Southwoods is expected to coast anew to its sixth-straight title.

Southwoods captain Thirdy Escano is confident his wards will play well in the next two days.

“I am 100 percent that we will score at least 145 points,” Escano said. “We are just harvesting what we planted when we started the program some 20 years ago.”

In 1997, Escano started a competitive team with Junjun Plana and Bong Lopez from his old Aguinaldo team that won the Philippine Airlines Interclub.

That year, the Robert Sobrepena-led group started developing CJH. “I am pretty confident with this team, the best [Southwoods] team that could have played here,” added Escano, who also won as many Am Championships, as well.

Southwoods’s longest drought was from 2010 to 2012, the last when Zaragosa debuted for AAV Robros.

“Aidric and Carl will be leaving soon for the United States to study, but we have the young ones from the Am Championship to move to the Fil team.

Players like Jeff Jung [13 years old], the couple of 14-year-old [Josh Jorge and Masaichi Otake] and a 15-year-old [Sean Ramos],” Escano said.

Liam Cunningham is “old” at 17, while Lanz Uy is in his early 20s.

Batangas Barakos was at second spot with 241, while Philippine Navy ran third with 231. Forest Hills Nicklaus was fourth with 228 and Razons of Guagua was at the tail with 218.

orts

sMirror

Air Force-PLDT in KO showdown

M

EN’S volley action reaches its highpoint on Friday as Air Force and PLDT face off in a winner-take-all match for the Spikers’ Turf Open Conference diadem at the Blue Eagle gym in Quezon City.

The Agilas foiled the twice-to-beat Home Power Hitters, 25-23, 22-25, 26-24, 28-26, last Wednesday, forcing the sudden death expected to go down-to-thewire starting at 3 p.m.

Focus will be on Alnakran Abdilla, who uncorked a 28-hit game, including 26 attack points, in leading the Agilas to the crucial victory. The power-hitting, high-scoring ace hopes to draw solid backup from the likes of Edwin Tolentino, Howard Mojica, Ruben Inaudito, Rudolfo Labrador and Jeffrey Malabanan with Jessie Lopez providing the set plays for the Agilas, who edged the Cignal HD Spikers in the stepladder semis to gain a crack at the championship in the third season of the country’s premier men’s volley league organized by Sports Vision.

But the Home Power Hitters are raring to get back at the Agilas with Mark Alfafara and John Vic de Guzman tipped to lead their attack again along with Jayvee Sumagaysay, Joshua Umandal and Joeven dela Vega.

Setter Ronchette Villegas is also up for a playmaking duel with Lopez.

The Home Power Hitters swept the Agilas in the elims but the latter put their act together in their second clash to hold off the former in their title drive after clinching the first finals seat outright following the withdrawal of Sta. Elena-National U, which had to honor a commitment to represent the country in the ongoing Asean University Games in Myanmar.

Lady Warriors topple Eagles

U

NIVERSITY of the East sent Colegio San AgustinBiñan crashing back to earth following a 25-10 26-24, 25-8 victory in the Philippine Superliga Collegiate Grand Slam on Thursday at the Muntinlupa City Sports Center.

After suffering back-to-back setbacks, the Lady Warriors regained their winning form as they dominated the Eagles, who are coming off a massive five-set upset of Far Eastern University two weeks ago.

With the win, the Red Warriors finished this prestigious collegiate league bankrolled by Asics, Isuzu, Mikasa, Senoh, Mueller, UCPB Gen and Bizooku with Genius Sports as technical provider with a 2-3 win-loss slate.

They will face the Lady Tamaraws in the bronze medal match while University of the Philippines and University of Santo Tomas figure in the finals on December 20 at the Mall of Asia Arena.

Veteran Meann Mendrez fired 10 kills and an ace for 11 points, while Setter Laizah Bendong tallied seven aces on top of 11 excellent sets for UE, which completed the win in just 65 minutes.

The Eagles, who fell to 1-3, will wrap up its participation in this inaugural tourney that also has ESPN5, Aksyon TV and Hyper HD as broadcast partners against De La Salle-Dasmariñas.

Friday, December 14, 2018

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Nava, Pascua generate power for PHL campaign

TECHNICAL Delegates of various countries pose for a class picture with Philippine Southeast Asian Games organizing committee brass Karen Caballero, vice director, Sports Competition; Tom Carrasco, senior deputy director general; Rep. Abraham Tolentino, Sports Director; Ramon Suzara, executive director; and Red Dumuk, vice director, Sports Services Policies and Procedures. NONIE REYES

I

NTERNATIONAL Masters (IMs) Roderick Nava and Haridas Pascua came through with strong results to lead the country’s charge after three rounds of the 7th Asian Continental Chess Championships (Second Manny Pacquiao Cup) at the Tiara Hotel in Makati City on Wednesday.

Nava, 33, caught a big fish in IM Novendra Priasmoro of Indonesia, whose rating of 2483 is way higher than the former’s 2392, while Pascua, 25, picked up his third straight draw against 18th-seeded Grandmaster (GM) Abhimanyu Puranik of India.

It was the second straight point for Nava, who climbed to an 11-chesser logjam at 13th place, that not only made him the highest scorer among the locals but also pushed him half a point behind the 12man lead pack headed by second seed GM Wei Yi of China.

Nava, however, will have to deal with top-seed GM Wang Hao of China in the fourth round for him to stay in the hunt in the nine-round tournament bankrolled by Sen. Manny Pacquiao and the Philippine Sports Commission and backed by the National Chess Federation of the Philippines.

Pascua remained unbeaten after he also split the point with fourth-seed GM Santosh Gujrathi Vidit and Priasmoro.

Pascua’s 1.5-point total is good for a share of 24th place with a big group that included GM Joey Antonio, IMs Jan Emmanuel Garcia and Ricky de Guzman, FM Mari Joseph Turqueza and Micahel Concio, Jr. He will collide with No. 16 Nodirbek Yakubboev of Uzbekistan in the fourth round at press time.

GOAL:

UNFORGETTABLE GAMES T

By Jun Lomibao

HE Philippines is bound to host the biggest Southeast Asian Games yet in terms of sports and events in 2019 but the Philippine SEA Games Organizing Committee (Phisgoc) has a bigger goal to accomplish.

“We want to host the most unforgettable SEA Games,” Ramon Suzara, Phisgoc’s executive director, stressed.

For starters, the opening ceremony goes out of tradition by holding a glitzy opening ceremony on November 30 at the 60,000-seat Philippine Arena in Bulacan.

A

S the Philippine Basketball Association (PBA) Governors’ Cup Finals progresses and the series now down to a best-ofthree, Alaska and Magnolia further dived into a physical battle for the season-ending crown.

Aces Head Coach Alex Compton called the attention of the league after his prized guard, Chris Banchero, was caught rolling in pain as Magnolia’s Mark Barroca hit him in the groin area late in the fourth quarter of Game Four on Wednesday night.

That action prompted the PBA Office to slap Barroca a P50,000 fine. The cat-quick guard, though, escaped suspension and will still be available for Game Five at the Smart Araneta Coliseum.

Compton, obviously disgusted on the incident, aired his frustration over the play he labeled as “dirty basketball.”

“If we’re getting punched multiple times, and there aren’t calls or suspensions, I’ve got problems with it. Jio [Jalalon] punched us, somebody punched Mike [Harris] and Chris in the testicles... that’s dirty basketball,” Compton said.

“To call it anything else would be a lie, and

“Going indoors is a first in the SEA Games but what’s important is that the opening ceremony would be very unique,” Suzara added, saying the event would go digital, a first in the biennial Games that has 11 member-countries including the Philippines.

As a surprise, the Phisgoc is contracting a Filipino-American singing sensation who has waxed countless pop hits. “But his identity remains a secret at the moment,” Suzara said.

“Let’s just say that the opening ceremony will be hip and festive, just like the half time of the Super Bowl,” added Suzara, who bared that the international group that handled the opening ceremonies of the London 2012 and Rio de

Janeiro 2016 and the Jakarta 2018 Asian Games were tapped for the Philippine Games.

The Games will run for 12 days from the original 11 days and will hold the closing ceremony on December 11 at the Athletics Stadium at the New Clark City which is being built by the Bases Conversion and Development Authority under Vince Dizon.

There are 56 sports and these were ratified

by Technical Delegates from the international and continental federations during their first official meeting on Thursday at the Diamond Hotel in Manila.

The total number of gold medals are pegged at 521 with three demonstration events—one in

newbie eSports that has yet to be announced and two in chess called problem solving.

There will be six competition hubs for the Games the country is hosting for the third time after 1991 and 2005. These are Clark (21 sports and 11 venues), Subic (14 sports and eight venues), Metro Manila (20 sports and 15 venues), Tagaytay City (cycling and skateboarding), Calatagan (polo) and San Juan in La Union (surfing).

Rep. Abraham “Bambol” Tolentino, who heads the Sports Department whose onerous responsibility is to determine the sports and events for the Games programs, said preparations are well under way and that

SERIES HAS GOTTEN PHYSICAL I’m not a liar,” the furious coach added.

The comments did not sit well with the league and fined Compton an undisclosed amount.

As action resumes at 7 p.m for Game Five on Friday, tempers are expected to rocket anew as both teams try to get the upperhand in the critical stage of the race-to-four series.

Harris lived up to his billing as the Best Import when he registered 34 points and 22 rebounds as Alaska pounded Magnolia, 90-76, on Wednesday.

Banchero added 17 points, while Jake Pascual and Kevin Racal combined for 17 points.

Apparently, Banchero wasn’t the only one who got hit. Romeo Travis of the Hotshots sustained a cut in the bridge of his nose from an unintentional elbow of Harris on a drive in the third quarter. He finished the game with 29 points and 13 rebounds.

Best Player of the Conference Paul Lee had 14 points for Magnolia.

Ramon Rafael Bonilla

ALASKA’S Chris Banchero and Magnolia’s Mark Barroca went after each other’s throat in Game Four.

HUNGER, DESIRE TAKE OVER H

UNIVERSITY of the East’s Meann Mendez and Colegio San Agustin-Biñan’s Aimie Lacambra preside over the action.

Thursday’s Technical Delegates Meeting was proof of the enthusiastic response to the country’s hosting.

One technical delegate, in fact, likened preparations by the Phisgoc to the Asian Games—the delegates were flown in via business class aboard Philippine Airlines, the first from the private sector to hook up with the games as a Gold sponsor that is worth $2 million (Platinum sponsorship of worth $3 million and silver $500,000).

“Everything is under control,” said Patrick Gregorio, the Philippine Olympic Committee secretary-general and director general of the Phisgoc.

UNGER and desire will be major factors when Petron and F2 Logistics clash in the Philippine Superliga AllFilipino Conference best-of-three finals duel starting on Saturday at the Mall of Asia Arena.

Cargo Movers Head Coach Ramil de Jesus admitted that their chances of regaining the crown all depends on their willingness to win as F2 Logistics has all the reasons to go all-out in this series.

The Cargo Movers used to be the All-Filipino champions until the Blaze Spikers dethroned them following the recruitment of star blocker Mika Reyes, Remy Palma, Sisi Rondina and Bernadeth Pons.

That setback sparked what is billed as the fiercest and most bitter rivalry in Philippine volleyball with both teams clashing in the next four titular showdowns, including the dramatic encounter in the 2017 Grand Prix where Venezuelan import Maria Jose Perez competed in Game Two despite the death of her brother.

“Just like before, winning in the finals all depends on their willingness and desire,” said de Jesus, who is tipped to be seriously challenged by fellow Far Eastern University alum in Petron Coach Shaq de los Santos in their chess match at the sidelines.

“Hopefully, they would want it more. They worked hard to get into the finals. They should do everything to finish the

job,” he added. De Jesus knows that bringing down Petron is like scaling a mountain.

Besides his former player Reyes, the Blaze Spikers also have veterans Aiza Maizo-Pontillas, Ging Balse-Pabayo and Rhea Dimaculangan, as well as attackers Frances Molina, Chloe Cortez, Rondina, Pons and Carmela Tunay.

“Having a deep rotation has been the major advantage of Petron,” said de Jesus, who will bank on national team stalwarts Kim Fajardo, Kianna Dy, Aby Maraño, Majoy Baron and Cha Cruz.

“At this point, I have very limited personnel. But inside the court, both of us will have only six players. So it really depends on how willing and how hungry we are to win the crown.”

De los Santos agreed with de Jesus, but stressed that the pressure is on them after banging 12 consecutive wins to move two wins shy of sweeping the conference.

“Of course, the pressure is there,” said de los Santos, adding that de Jesus is a brilliant strategist who could easily really his team to plot a furious fightback.

“But I’m telling the team that this is already the championship. Whatever happened before doesn’t matter anymore. We should go into the series with a fresh mindset with our eyes set on our goal.”

“This finals series is a different story. It all boils down to who will play with a bigger heart.”

S

San Beda unbeaten

AN Beda University outlasted Jose Rizal University (JRU), 17-25, 25-13, 25-9, 21-25, 15-11, yesterday to stay undefeated at the top of the heap in the women’s section of the 94th National Collegiate Athletic Association of the Philippines volleyball tournament at the Filoil Flying V Centre in San Juan City.

Maria Nieza Viray and Cesca Racraquin took turns and finished with 26 and 25 points, respectively, as the Lady Red Spikers booked their fifth straight victory in as many outings that kept last year’s losing finalists at the helm.

The Lady Bombers drew strength from the troika of Karen Montojo, Rizza Rose and Dolly Grace Verzosa, who scattered 12 hits apiece, but lost steam in the deciding fifth set when the prolific Viray-Racraquin tandem took over.

The Kalentong-based school suffered their third setback against two wins.

JRU, however, made heads turn in the juniors class after it surprised league leader San Beda in a gripping 16-25, 25-15, 22-25, 25-22, 15-9, to zoom to fifth spot with a 3-2 card.

San Beda came into the game as the favorite after steamrolling its first four opponents but ended up with its first defeat.

In the men’s section, JRU trounced San Beda, 20-25, 25-19, 25-22, 28-26, to improve to 2-3.

The Red Spikers slipped to 1-4.

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Sports

| Friday, December 14, 2018

BusinessMirror

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TOUGH PRICE TO PAY

REAL Madrid’s Vinicius Junior looks up as CSKA players celebrate in background their side’s third goal and Juventus’s Cristiano Ronaldo reacts after a missed chance against Switzerland’s BSC Young Boys Bern. AP

T

By Steve Douglas The Associated Press

WO of European soccer’s grandest clubs paid the price for fielding weakened teams on the final night of Champions League group play, with Real Madrid slumping to a record home loss and Manchester United squandering a surprise opportunity to top its group.

On an evening when Lyon celebrated becoming the 16th and last team to qualify for the knockout stage, Madrid’s players were jeered off the field at the Santiago Bernabeu after a 3-0 defeat to CSKA Moscow—its heaviest loss in more than 250 home games in European competition.

“It’s a painful result,” Madrid left back Marcelo said.

At least that embarrassing loss didn’t stop the defending champions from topping their group. United didn’t have that luxury.

Like Madrid, United selected a largely second-string lineup with qualification secure, even though Jose Mourinho’s team still had a chance of climbing above Juventus to first place with a win.

With Cristiano Ronaldo’s Juventus surprisingly losing 2-1 at Swiss club Young Boys, United could have finished top—only to lose by the same score line at the Mestalla. Adding to United’s misery, Phil Jones scored an own-goal from outside his own area and Paul Pogba missed a great chance from around 4 yards out.

“Tonight, it is job done in a difficult group,” said Mourinho, whose team is now assured of facing one of the following group winners: Barcelona, Real Madrid, Bayern Munich, Borussia Dortmund, Porto or Paris Saint-Germain.

United was one of four English teams to reach the knockout stage for the second straight season. This was the first year when 16 group-stage places were guaranteed for the Big 4 leagues in Europe—Spain, England, Germany and Italy. The four countries put 12 teams in total into the round of 16, the draw for which is on Monday.

MADRID HUMBLED

WITH the Club World Cup only a week away, Madrid Coach Santiago Solari rested most of his key players and used several others who hadn’t started much this season, including Francisco “Isco” Alarcon and Marco Asensio.

There was no intensity to Madrid’s play CSKA capitalized, completing a home-and-away double over the titleholders that still didn’t lift the Russian team off last place. Viktoria Plzen beat Roma 2-1 to finish in front, with CSKA needing to better Plzen’s result in the Czech Republic.

Fedor Chalov and Georgi Schennikov scored late in the first half for CSKA, and Arnor Sigurdsson added another after the break.

“It’s sad...to beat Real Madrid, earn seven points, but finish bottom and get eliminated from Europe,” CSKA Coach Viktor Goncharenko said.

MISSED CHANCE

MOURINHO might also have had one eye on an upcoming game, with United playing great rival Liverpool in the Premier League on Sunday.

His understrength team still featured Pogba, France’s World Cup-winning midfielder who has fallen out of favor with Mourinho and started on the bench for the last two Premier League games.

Pogba’s chances of getting back in the starting lineup for the weekend won’t have been helped by his bad miss when the score was 0-0, prodding the ball wide from

inside the 6-yard box.

Carlos Soler put Valencia in front with a driven first-time finish after latching onto Jones’s clearing header in the 17th, and the United center back made an even bigger error for the second goal in the 47th. Jones slid in to clear the ball as he chased down Valencia striker Michy Batshuayi, but only succeeded in slotting it past Sergio Romero from 20 meters with the goalkeeper having come off his line.

Marcus Rashford pulled a goal back in the 87th for United.

Ronaldo played the whole game for Juventus, which was undone by goals from veteran Young Boys forward Guillaume Hoarau in the 30th and 68th minutes. Paulo Dybala cut the deficit in the 80th.

LYON THROUGH

ONLY one qualification place was up for grabs on the final night of group play and it was a straight shootout in freezing sleet between Lyon and Shakhtar Donetsk, which was forced to play its home game in Kiev after it was relocated due to martial law in various regions of Ukraine.

Nabil Fekir’s 65th-minute goal earned Lyon a 1-1 draw that preserved second place in Group F behind Manchester City, which beat Hoffenheim 2-1 thanks to Leroy Sane’s double to seal top spot.

BAYERN TOP

BAYERN MUNICH’S wild 3-3 draw at Ajax—featuring four goals from the 82nd minute, including an equalizer for Ajax five minutes into stoppage time— earned the German champion first place in Group E above the Dutch team. Both sides had already qualified.

Benfica was already assured of third place and a Europa League spot before beating AEK Athens, 1-0.

Honda’s soccer passion showing in Down Under N HONDA

OT long after Japanese midfielder Keisuke Honda joined the Melbourne Victory, he mentioned at the A-League season launch that “I’ve made people disappointed, I’ve made people happy...I don’t have any magic.”

Seven games into the season, the 32-year Honda is providing plenty of spark and experience for the secondplace Victory, and, despite his comments, a bit of magic and passion for his team and A-League fans.

Honda, who scored 32 goals in 98 games for his national team, retired from international play after the World

Cup this year when Japan lost to Belgium in the knockout stage. He was signed as the Victory’s marquee player, meaning his contract was outside the team’s salary cap.

So far, he’s been worth whatever money he is earning.

Honda has played in every minute of each of the seven games and scored four of the defending champion Victory’s 16 goals in the season so far. Even more, he appears to be a driving force on and off the field.

On Wednesday Honda was selected by Professional Footballers Australia as the men’s player of the month.

He was taken aback when PFA representative Simon Colosimo visited a Victory practice session to make the announcement, but Honda responded in his usual humble way.

“I’m surprised,” Honda said. “I’m happy to receive the award but I am happy more when we win as a team.

I appreciate the award and I received it because of my teammates.”

After the Victory beat Western Sydney Wanderers 4-0 on December 1, when Honda opened the scoring in the 11th minute, the Japanese veteran thought there was still room for improvement.

“I’m not satisfied yet, we also made mistakes,” Honda told a local television reporter after the match. “We should not have been satisfied that we were four goals up. Football is entertainment, and our supporters want a full 90 minutes.”

Soon after, a person tweeted: “Rumor has it there’s a 99 percent chance you’ll fall in love with Keisuke Honda if you watch this interview.”

Another fan responded: “Only 99 percent?” Another added: “Honest, humble and a fan pleaser to the max. Not much to dislike.”

And an American soccer fan posted on Twitter: “We really missed out on getting this guy in MLS.” His teammates are equally as impressed.

Victory goalkeeper Lawrence Thomas told local media that Honda approached him a month ago with an offer for some advice.

“I think it was maybe the third or fourth round, he came to me after training, maybe two days after a game, and said, ‘Lawrence, I want to meet you after training and go through some of your options with playing out from the back.’

“We stayed behind for an hour and he talked me through some of the options I should be looking for, what to play. He just has a real passion for the game and he’s incredibly disciplined. I think everyone in the club can pick his brain a bit and really learn how to get to that top level.”

Honda’s English in that TV interview after the 4-0 win was getting close to perfect, and Thomas revealed why.

“I asked him how his English has improved so quickly and he said he wakes up at 5 a.m. and does two hours of English,” Thomas said. “He could probably write a better essay or speech than I can. The day after the game, he comes and does his stuff. I don’t think you get to that level of what he’s done without being consistent and having pride in what you do.” AP

Two French league matches postponed

P

ARIS—Two French league soccer matches have been postponed at the request of authorities.

Nice’s home game against Saint-Etienne on Friday and Saturday’s match between Nantes and Montpellier will be played at a later date.

The French league says the reason for both cancellations is because police forces are being stretched.

However, the league says it may move the match between Nice and Saint-Etienne to Sunday in order to avoid a backlog because both sides had their games postponed last weekend amid security concerns about anti-government protests.

Six matches were postponed last week—also including those featuring Nantes and Montpellier—amid recent demonstrations against fuel tax rises and other grievances.

Those six matches are rescheduled for March 15 and 16. AP

Fifa sanctions head of Afghan soccer

Z

URICH—Fifa has provisionally banned the head of the Afghanistan soccer federation following accusations of sexual and physical abuse of female players.

In a statement, Fifa says Afghanistan Football Federation President Keramuudin Karim’s 90-day suspension “may be extended pending proceedings on the merits of the case.”

Fifa did not specify the details of the charge, only saying the “sanction has been imposed in connection with ongoing investigations concerning AFF officials, as reported by local authorities and published by some media.” AP

Merciful God

M

ERCIFUL God, You have been our help. In hope, we pray: Gracious God, answer our prayer. Instill Pope Francis, bishops and religious leaders with goodness of life, strength in leadership and humility of heart. Advance wisdom, understanding and learning in all schools. Comfort those who experience abandonment, grave loss or trauma, and great desperation. May God strengthen us in wisdom, prudence and love through Christ our Savior. Amen!

JO A. SALDANA AND LOUIE M. LACSON

Word&Life Publications • teacherlouie1965@yahoo.com

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

Life

Aquaman breaks his trident The Asian premiere of Aquaman brought director James Wan and stars Jason Momoa and Amber Heard to the Philippines for the first time. How they felt about the visit is a question answered by an ill-fated stage prop.

AQUAMAN director James Wan and stars Amber Heard and Jason Momoa attend a jampacked fan event at SM Mall of Asia Music Hall. STEPHENIE TUMAMPOS

By Jt Nisay

ASON MOMOA closes his eyes. Drowned by the cheers of the deafening Filipino crowd, on a stage a stone’s throw away from the sea, the Aquaman lead star is breathing it all in. »D3

BusinessMirror

THE ROAD UP NORTH: STORIES OF FOOD, FAITH AND LOOKING BACK D4

Friday, December 14, 2018 D1

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Society BusinessMirror

Friday, December 14, 2018

Of styles and signatures

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VERY insignia tells a story.

Whether it’s a fragrance you’ve been using since forever, or a certain accessory you never leave home without, your insignia is what defines you. It’s what keeps you rooted in a sea of everchanging trends and fads; it’s the one thing that reminds you of how individual and unique you are. For Carolina Herrera, it’s always been a crisp white shirt: classy, timeless and extremely versatile.

The Insignia project was born to celebrate the 35th anniversary of the House of Herrera. Taking the iconic CH logo as a starting point, a new signature monogram was created; a symbol full of meaning present in all collections offering added value. The Insignia collection is about revisiting your wardrobe staples—the items that have crafted your style and shaped how you present yourself to the world—while discovering new pieces to compliment your existing look.

To celebrate the first anniversary of CH Carolina Herrera in the Philippines, the brand put the spotlight on the discerning Filipino, whose eye for detail and love for all things sophisticated goes unparalleled. The flagship store in the country can be found at Greenbelt 5 in Makati.

These Filipino tastemakers were recently honored in the CH Carolina Herrera Insignia Exhibition in the Maybank Performing Arts Theater. A visual project where the emphasis lies on identity, these masters in their respective fields of design, culinary and performing arts, among others, were photographed to highlight how their work shapes modern Filipino culture—much like the designer herself.

Pam Quiñones, celebrity stylist and all-around creative force, took helm as creative director for the photo shoot, with photographer Artu Nepomuceno and the makeup team of Estee Lauder Philippines.

The honorees were: Budji Layug and Royal Pineda, the tandem behind architecture and design firm Budji+Royal; Candice Gotianuy, chancellor of the University of Cebu; Heart Evangelista, the multihyphenate creative; former magazine editor Jae Pickrell and Chef Bruce Ricketts; restaurateur Josh Boutwood; accessories designer Ken Samudio; renowned furniture designer Kenneth Cobonpue; actress Lovi Poe; and Internet darling Mari Jasmine.

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www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Vanessa Hudgens, 30; Sophie Monk, 39; Beth Orton, 48; Dee Wallace, 70.

HAPPY BIRTHDAY: Take a moment to reflect and to consider what’s happened and how you can come to terms with situations that are still bothering you. Move forward with trepidation, trusting in yourself and what your heart tells you. Truth will help you make better choices, and distancing yourself from those who have done you wrong will help you build a better future. Your lucky numbers are 9, 11, 22, 26, 34, 39, 48.

a

ARIES (March 21-April 19): Take care of pressing matters the first time so you aren’t stuck cleaning up when you’d rather be out having fun with friends. A last-minute change someone makes will leave you wondering if you should make one, as well. ««« LOVI POE

ERIN MENK and Pamela Garcia

KENNETH COBONPUE

b

TAURUS (April 20-May 20): A decision you make will help stabilize your life and get you moving down a positive path. Making a commitment or coming up with a plan to ensure you begin the upcoming year on the right foot should be a priority. ««««

c

GEMINI (May 21-June 20): Stay focused on what’s important. If you ask for too much, you may only receive the things that won’t have an impact on your life moving forward. Have a plan in place and a goal in mind. Moderation will be required. ««

d

CANCER (June 21-July 22): Take a unique approach to how you celebrate. A meaningful gift will far exceed a fancy token or lavish offering. A physical change will be embraced with compliments and greater confidence. A little romance will highlight your day. «««««

e

LEO (July 23-Aug. 22): A chance to do something different will prompt you to check out new opportunities in your community.

Plan an eventful evening with friends or your lover, but avoid indulgence. A change at home should not go over budget. «««

f

VIRGO (Aug. 23-Sept. 22): The less time spent at home, the better. Don’t become entangled in someone’s bad mood or poor behavior. If you do something questionable, own up to it. It’s best to clear the air so you can move forward without feeling guilty. ««« THE new Carolina Herrera Ella Insignia Bag, unveiled for the first time in the world during the CH Carolina Herrera Insignia Exhibit.

PAM QUIÑONES

AGILE ZAMORA, Ofelia Wadle, Connie Haw and Helen Ong

g

LIBRA (Sept. 23-Oct. 22): Consider what you’d like to do next and start researching your options. Signing up for a course that will help you raise your earning potential or ease your stress will give you something to look forward to. Focus on personal change. «««

h

SCORPIO (Oct. 23-Nov. 21): Sign up for something that looks interesting. The people you meet will inspire you to get back to basics and explore your creative urges. A social event will make you realize how you feel about someone close to you. «««««

i

SAGITTARIUS (Nov. 22-Dec. 21): Question anyone and anything that appears to be suspicious. Offer help you know will make a difference, but don’t focus your efforts on those trying to take advantage of your kindness and good nature. Make a positive change to the way you live. ««

j

CAPRICORN (Dec. 22-Jan. 19): You’ll be weighing choices and considering what you want to do next.

Be realistic and don’t make decisions or moves until you have everything in place. A premature change will leave you scrambling. Keep life simple. ««««

k

AQUARIUS (Jan. 20-Feb. 18): What you do for someone else will make you feel good and teach you something about who you are and what you can do. A change to the way you handle and earn your money will bring long-term success. «««

l AGOO BENGZON and Tootsy Angara

HEART EVANGELISTA, one of the muses of the CH Carolina Herrera Insignia Exhibit, with husband Chiz Escudero

PISCES (Feb. 19-March 20): Don’t trust in what others tell you. Go directly to the source and find out firsthand before you make a decision that can affect you personally. Getting along will be half the battle when dealing with peers and relatives. ««« FLORA SIASAT

BIRTHDAY BABY: You are original, inventive and adaptable. You are determined and helpful.

CELINE LOPEZ and Grace Baja

‘funny money’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Angering Miss Manners 5 Chart feature 10 Old-style goings-on 13 Good rival?

14 Philly pro 15 Middle Eastern gulf 16 Easy target for a hunter?

19 Lot or type 20 Naan or pumpernickel 21 Frenchmen of old 22 Many newspapers 24 Deterrents for speeders 25 Agrees silently 26 Book of places 28 Constellation bear 30 Japanese, e.g.

31 Used a chair 34 Dollar to comical Brown?

38 Coop matron 39 Shrek and kin 40 Dublin’s place 41 Handed down a decision 42 Small watering hole

4 Branch-of-science ending 4 46 It may be written off 49 Folks avoiding electricity 50 ID feature 52 Musician Charles 53 Result of a big rig hitting a speedbump?

56 Opposin’ 57 Antiquated 58 Plant for balms 59 Singer Benatar 60 Favored by God (var.)

61 Some bills DOWN 1 Try harder on eBay 2 Soft palate attachment 3 Emily with the poems 4 Beast that bugles 5 Artistic classes 6 Evaluates 7 Turkish title 8 Argued for or against 9 Part of a skirt 10 Find a total

1 Many PCs 1 12 More bills 15 Presidential name twice 17 “The same,” in footnotes 18 Pet lizard 23 Burden 24 Interesting? No 26 Sought info 27 Some involuntary movements 28 “Gross!” grunt 29 Fish-to-be 30 Four roods 31 Old calculator 32 Televise 33 Thing to drive off 35 Pleased a store owner 36 Like a fabled duckling 37 Tear forcefully 41 Prepare, as a bow 42 Inventor’s document 43 Something fishy?

44 U-turn from alpha 45 What the sky is, it’s said 46 Tree trunks

7 BLT necessity 4 48 Daycare charges 49 “I need it now!”

50 Gloomy atmosphere 51 Use a smokescreen 54 Burgle 55 Face Jacob deGrom

Solution to yesterday’s puzzle:

Show BusinessMirror

Friday, December 14, 2018

Aquaman breaks his trident »From D1

Pensive is not necessarily the first trait that comes to mind when thinking about the qualities of a man of Momoa’s physique or stature, but the 39-year-old wasn’t hesitant in the slightest to pick his moments during the fan event of Aquaman’s Asian premiere at the SM Mall of Asia Music Hall, where people chanted his name and asked him to sign everything from action figures to bags of chips.

Then again, as he proved during his recent short stop to the country, presumptions about him are almost always off the mark.

Tattoos and a bar-fight scar on his left eyebrow may suggest that the Idaho native by way of Hawaii is a colorless brute with impenetrable bravado, but he is actually a natural comic who interacted with fans with wit and charm. He even delivered a well-received hosting job at Saturday Night Live the past weekend, where he mentioned in his opening monologue past plans of moving to New York to audition as a regular cast member of the famed late night variety show.

The 6’4”, 220 lbs. man of muscles who played Khal Drogo in the phenomenal TV series Game of Thrones may appear to be a full adult too mature to smile, only he still knows how to enjoy life with childish delight. During the “Blue Carpet” event in Manila, Momoa was visibly thrilled about the entire experience, running through the pathways and shouting and jumping together with the fans. Jason Momoa appeared to be as excited as a kid who is about to meet Jason Momoa.

“I have never received this much love in my life,” he said to the crowd while holding a golden trident.

“I’m rarely awe-struck. Thank you so much. I love you.

Enjoy the movie!”

Afterward, Momoa belted out the howl of a battle cry and raised his character’s iconic weapon to the air that electrified people. It was the queue of the program’s finale.

Lights flash, speakers blare and the people turn wild.

Momoa, feeding off the energy, repeatedly slams the tip of the trident on the floor as he crunched his body and his hair flips with every pierce. Slam. Crunch. Flip. Slam. Crunch.

Flip. Again and again, until the tri-tipped head of the most powerful weapon of the seven seas fall off.

“Manila, Manila, you win,” Momoa said in an Instagram story posted on his account, @prideofgypsies, shortly after the fan event, where he still appeared to be catching his breath from the high-energy public appearance.

“You guys came out and loved the Hawaiian!”

Perhaps what contributed to Momoa’s emotional response, other than being a person who takes nothing for granted, was the overwhelming early success of Aquaman. Director James Wan mentioned during the press conference that the movie has already netted $107 million in China as of Tuesday. (Aquaman hit theaters on these parts on Wednesday, and is now showing nationwide from Warner Bros. Pictures)

The early figure is especially surprising given how the idea of making a standalone Aquaman film had long been ridiculed.

The character was introduced in the comics in 1941.

But as big-time production studios picked up comic-book superheroes much younger than the King of Atlantis for movie adaptations, and to much acclaim, nobody dared to fish Aquaman out of the water. Who wanted to watch a superhero who talks to fish?

The superhero movie genre, however, from the filmmakers’ approach to the audience’s taste, has grown by leaps and bounds in the past decade that even projects headlined by B-level characters and villains yield boxoffice success. Finally, the timing for an Aquaman movie had arrived. What it needed next were the right people.

James Wan made his name in the mainstream entertainment industry as a filmmaker with boundless imagination, which was in full display in his breakthrough bloodbath Saw series, the hit horror Conjuring movies and the big franchise installment Fast and Furious 7. Wan made the most out of the materials, even if the settings were basically limited to a room, a house and roads, respectively.

“But with Aquaman, the idea of being able to create a world? That’s what was really attractive to him,” the film’s co-producer Rob Cowan said in a statement. “And because it’s James, the action took on elements of horror, romance, the history and mythology of Atlantis.... It’s based on canon, but at the same time he was able to be completely original.”

Wan described the opportunity as a dream come true. He said both he and Momoa connect to the film’s central character on a personal level as people who come from two different worlds.

Aquaman, or Arthur Ash, is the product of a love that shouldn’t have been between humans and Atlanteans, the advanced race that resides in the underwater kingdom of Atlantis. Meanwhile, Wan is an Asian guy born in Malaysia who grew up in Australia, and Momoa is a Hawaiian who grew up in central America.

KCC to host the merriest performances at Guerilla K-Night TO make this holiday season livelier, the Korean Cultural Center in the Philippines will host the “2018 Guerilla K-Night” on December 19, 6 PM, at Sunlife Amphitheatre, BGC, Taguig City.

Traditional contemporary performer from Korea UHEE, Arena 2018 International Urban Dance Experience Champion Aftermath, and 2018 Pinoy K-pop Star vocal category 2nd prize winner Paul Manuel and performance category grand prize winner MIX’IN will bring more excitement to the crowd in this one-night-only event with their amazing performances.

UHEE is composed of six young and

promising artists in Korea. They are known for their reinterpretation of the Korean traditional percussion music and plays with creative musical techniques to better suit for modern ears. The group was awarded Best Gugak Performance for vitalization of Gugak by Seoul City and 2015’s Best Performance for Traveling Korean Arts by the Korean Cultural Center which led them to tour around Spain and the Philippines for several performances.

Aside from the performances, free food, freebies, and raffle prizes will be given away to the lucky attendees of the event. Admission is free. For details, contact kccphevents@gmail.com or 555-171.

“Arthur is a human who is from two separate worlds and doesn’t quite feel he belongs to either one,” Wan said. “But what he discovers is he has the best of both worlds, leading him to embrace his identity. That’s something I understood as I got older, and I think that Jason feels that, as well.”

Adding to the perfect timing and timeliness of an Aquaman film in 2018 was the depth of hot topics that could be explored in the story, one of which was the environmental issue.

Orm (Patrick Wilson), the half-brother of Arthur who has his sights on Atlantean kingship, is keen on declaring war against the surface dwellers on account of polluting the oceans and killing its habitants. Wan said, “[One]

cannot make an Aquaman movie and not touch on the environmental message of it all.”

Another topic is woman empowerment. Amber Heard plays the character of Mera, princess of the undersea kingdom Xebel, love interest of Arthur, and, more important, no damsel in distress.

“She’s a princess, but it’s just a title,” Heard said during the presscon. “She’s active, driven, strong, fierce, bad-ass, kick-ass, tough, intelligent warrior—a superhero in her own right.”

In the comics, Mera is often portrayed as stronger as Aquaman. Heard, a feminist, said the character is the kind of representation the entertainment industry needs more of, which is a depiction of women who are

fuller, stronger and bolder.

“I love that I could be this woman now,” Heard added.

“It’s one thing to play a kick-ass lady character, but to play it now in this day and age is incredibly important for me both as an actress and a person.”

Heard, like Momoa, posted to social media moments of her visit in Manila. One of the last ones before they left was the touring Aquaman team enjoying dinner over a live performance of an R&B singer performing the Boyz II Men classic “End of the Road.”

Jason Momoa could be seen on the other side of the long table, crooning his heart out, even if his career, and the film’s direction based on early success, points to the opposite direction of the song.

PPO, VIOLINIST CHINO GUTIERREZ BRING HOLIDAY CHEER

JOAQUIN MARIA “CHINO” GUTIERREZ

THE Philippine Philharmonic Orchestra offers nostalgic holiday cheer as it performs classical pieces often associated with the season on December 14, 8 pm, at Tanghalang Nicanor Abelardo (CCP Main Theater).

For the fourth installment of its 36th concert season, the program will include: Hans Pfitzner’s “The Christmas Elf Overture”, Engelbert Humperdinck’s “Hansel and Gretel Prelude to Act One”, and Peter Ilich Tchaikovsky’s “The Nutcracker Suite”, as well as Christmas music (hymns, carols and songs).

Young violinist Joaquin Maria “Chino” Gutierrez will be the guest soloist, performing Wolfgang Amadeus Mozart’s “Violin Concerto No. 5”. Chino belongs to the emerging crop of young Filipino virtuosos, carving a secure place in the international arena of violin playing.

Hailed as a young virtuoso at 15, he is the first Filipino violinist to have been invited to compete at the highly prestigious Joseph Joachim International

Violin Competition in Hannover, Germany. Last year, Chino represented the Philippines in the Singapore International Music Festival.

Chino’s performances have been described by many as “mesmerizing.” Alfonso Bolipata, his first violin teacher, described him as “unusually gifted, with a natural ability and a sense of music-making that is uncanny for someone his age.”

Maestro Herminigildo Ranera will conduct. Hailed for his authoritative, articulate and soulful conducting, Maestro Hermie possesses a rare musical combination as a conductor, composer, arranger, performer and educator.

He is a three-time prize winner of the National Music Competition for Young Artists (NAMCYA) in 1982 and 1983, and a two-time Aliw awardee in 2015 and 2016. He is currently teaching at the UST Conservatory of Music and at St. Paul University, Manila.

For inquiries, call 832-3704 or 891-9999, or visit www.culturalcenter.gov.ph.

4 journalists and a newspaper are ‘Time’s’ Person of the Year

By David Bauder

N

The Associated Press

EW YORK—Time magazine on Tuesday recognized journalists, including the slain Saudi columnist Jamal Khashoggi, as its 2018 Person of the Year in what it said was an effort to emphasize the importance of reporters’ work in an increasingly hostile world.

The designation wasn’t intended as a specific message to the magazine’s runner-up choice, President Donald Trump, who has denounced “fake news” and called some reporters enemies of the people, said Ben Goldberger, executive editor.

Time cited four figures it called “the guardians.”

Besides Khashoggi, they are the staff of the Capital Gazette in Annapolis, Maryland, where five people were shot to death in June; Philippine journalist Maria Ressa; and Reuters reporters Wa Lone and Kyaw Soe Oo, who have been jailed in Myanmar for a year.

It’s the first time since the magazine began the end-of-year tradition in 1927 that Time has featured a journalist or recognized someone posthumously.

Time said that 2018 has been marked by manipulation and abuse of information, along with efforts by governments to foment mistrust of the facts.

Goldberger said the magazine hopes the choice reminds people outside of journalism about the importance of the work.

Joel Simon, executive director of the Committee to Protect Journalists, said he sees this message already starting to get through—sadly, in part because of the attention paid to Khashoggi’s killing. Khashoggi is one of at least 52 journalists murdered so far this year, the committee said.

“In some ways, I feel we’re at a turning point,” Simon said.

Khashoggi was killed two months ago when The Washington Post columnist, who had lived in the US, visited Saudi Arabia’s consulate in Turkey for paperwork so he could get married. He had been critical of the Saudi regime.

The Washington Post applauded Time for its message of support for journalists.

“We hope this recognition will prompt our nation’s leaders to stand up for America’s values and hold accountable those who attempt to silence journalists who cover our communities or in Jamal’s case, an oppressive authoritarian government,” said Fred Ryan, the Post’s publisher and CEO. Ressa, a former CNN journalist, co-founded the

online site Rappler, which has aggressively covered the government of Philippine President Rodrigo Duterte.

She was recently charged with tax fraud, with many in the Philippines seeing that as a reaction to Rappler’s reporting. Duterte had earlier banned a Rappler journalist from his news briefings, accusing her of biased reporting.

“I think it means the Philippines is in a battle for the life of our democracy and the people at the front lines of that are the journalists,” Ressa said in an interview. “We are doing our jobs and our job is to hold power to account. Our job is to tell our people when the government crosses the line.”

Wa Lone and Kyaw Soe Oo were imprisoned in

Myanmar after investigating a massacre of Rohingya Muslims.

Several dozen journalists and activists held a rally in Myanmar’s main city, Yangon, on Wednesday marking the anniversary of their arrests and urging their release.

In a statement, Reuters said it hopes that Time magazine’s recognition of the two reporters will draw “continued awareness to their unjust arrest and imprisonment in Myanmar, and reaffirm the essential role of a free press around the world.”

Four journalists and a sales assistant were killed by a gunman at the Capital Gazette newspaper last spring.

Time is producing four different covers featuring “the guardians.”

Last year Time recognized people who came forward to report on sexual misconduct. Trump, this year’s runnerup, was Person of the Year in 2016.

The third-place finisher this year was special counsel Robert Mueller, who Time indicated could move up in next year’s rankings depending on the findings of his investigation into the Trump campaign’s contacts with Russia. n Associated Press writers Shawn Marsh in New

York and Iya Forbes in Manila, Philippines, contributed to this report.

D3

D4 Friday, December 14, 2018

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www.businessmirror.com.ph

The road up North: Stories of food, faith and looking back

I

By Pauline Joy M. Gutierrez

GREW up in a small town up North, and in my heart I will always be a probinsyana, never mind the years my family and I spent moving back and forth in highly urbanized cities in Metro Manila. At the back of my mind, there’s only been one perpetual residence scribbled at the “others” field of the address tab in my biodata, which is Nueva Ecija.

To the rest of the country, the north is a gargantuan estate of mountainous terrains and alluvial plains. Its famous sunsets and Spanish-colonial landmarks draw in the occasional backpackers. But for born-and-raised Norte children, know that beyond these, the reason one keeps coming back to are the stories that people tell and the food they serve.

Up there, there’s always room for guests at the dining table.

I was up north recently for work as the San Miguel Pure Foods Culinary Center (SMPFCC), the food service firm under the San Miguel Food and Beverage Inc., teamed up with the Tarlac-Pangasinan-La Union Expressway (TPLEx) management to bring media guests to various northern provinces—a trip that culminated in Baguio City.

The event was geared toward highlighting destinations that were previously off the tourism grid as local and international tourists flock the more popular beach islands in the South, like El Nido and Boracay. Moreover, the ongoing development of TPLEx, the 88-kilometer four-lane expressway that connects Central to Northern Luzon, has helped in opening up opportunities for stops that once would have been inaccessible.

“There has always been a strong food culture in this part of the country, one that continually evolves. The provinces have so much to offer,” said SMPFCC head Llena ArcenasTan, citing how food tourism would help the region’s tourism sector: “It’s a way for [tourists] to immerse themselves in its culture and heritage.”

The first stop of the trip was Nampicuan in Nueva Ecija, home to the Sanctuary of the Holy Face, which possesses a replica of the Holy Veil of Manoppello. The veil is believed to be an imprint of the face of Jesus Christ, ostensibly the cloth with which Saint Veronica wiped the face of Jesus during His agonies in Golgotha.

The parish priest, Fr. Christian Magtalas, recounted how the Immaculate Conception Parish was at the brink of closure when the Rector of the Basilica del Volto Santo, Father Carmine Cucinelli, donated the veil to the faithful of their small town. Fr. Magtalas, echoing the words of Padre Pio, said that the veil is “the greatest miracle in our possession.”

A few minutes from the church is Anao, Tarlac, the ylang-ylang capital of the Philippines. To provide livelihood for the people of the municipality, the local government has spearheaded the production of Aroma Anao, a perfume made with ylang-ylang oil. These days, the town also produces air fresheners, candles, bath soaps, and even shampoo based on the fragrant flower, sold through the town’s display center and sometimes in fair trades around Luzon.

After these stops, there’s food. Just past the TPLEx Binalonan Exit in Pangasinan stands Ruperto’s, an unassuming inland resort.

Binalonan is known for their longganisa. Their rendition of the Filipino breakfast staple is meatier—because the fat is removed—and has a prominent garlic taste. Still, practically all vendors from the town’s wet market would have their own take on the delicacy. “If you go to our town market, almost every stall sells longganisa. It’s definitely one of our most well-loved dishes,” Ruperto’s Chef Aldwin Soriano shared.

Nueva Ecija, Tarlac, as well as Pangasinan are among the provinces that rebelled against the Spanish government during the Spanish colonial period in the Philippines. This cultural heritage momentum has built over time and, combined with food destinations in the provinces, pose plenty of possibility for its tourism sectors.

In 2017 the Department of Tourism (DOT) projected a tourism boom among the Cordilleras, Ilocos and Pangasinan, Cagayan Valley, and Central Luzon regions that is fueled by the department’s ongoing marketing campaign for NorthPhil as a one-stop tourism destination.

The final stop of the trip was Baguio. With the opening of the Pozzorubio Exit of TPLEx, travel time to the city has been cut significantly.

“Aside from sharing new eats, we also wanted to support Baguio and encourage people to come for a visit and help in its recovery,” said Arcenas-Tan. The recent Typhoon Ompong left parts of Baguio damaged. Landslides devastated areas and caused extensive damage in certain portions of the city. Despite this, the city is quickly working to get back on its feet.

“We think one of the best ways we can contribute to the cause is by encouraging people to support the many local entrepreneurs in the area,” she added.

Along Benguet road lies Farmer’s Daughter, a restaurant serving authentic Ibaloi dishes. The rustic foodie destination was opened in 2015 by butcher Pil Od. He was inspired both by his grandmother—who introduced him to local flavors—and his grandfather, who taught him all he knows about butchering.

Then, there’s Mama’s Table, a private restaurant/abode, inconspicuously hidden on Ambuklao Road, owned by banker-turned-restaurateur Chef Vicky Clemente. The name of the restaurant stems from the time when Chef Vicky did her thesis at the New York Culinary Institute and had to make a tasting menu, which she called Mama’s Table because it was inspired by recipes from her family.

Meanwhile, BZA Home Arts Café, owned by Donna Marie Navarrete, is a quaint art-and-crafts shop on Quezon Hill that is starting to make a name for itself through its art activities. There’s also Lemon and Olives, owned by Dr. and Mrs. Mendoza, the first Greek restaurant in Baguio.

Along Marcos Highway, closer to the city, is H.O.Y (House of Yogurt) Lover, a homey bed-and-breakfast by couple Eunice and Danny Wong. It’s the first and only home-blended yogurt bar in the city. The owners also run the restaurant Calajo, which features a few Cordillera dishes in its menu.

SMPFCC concluded the trip with an imparting thought: that Filipinos may know Northern Luzon for its rich history—but with it should be the region’s food culture.

Looking back, I figured from that short journey why I never considered myself as a Manileña: because vacations for me as a child were when I go away from home. But now, vacations are the time when I come back.

Motoring BusinessMirror

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

Editor: Tet Andolong

Continued on E2

Friday, December 14, 2018

E1

GLS Sport A/T and GLX Plus A/T variants

Moto

Business

E2 Friday, December 14, 2018

EXPAND YOUR DRIVING STYLE

WITH THE NEW XPANDER

RUNAWAY TO H

Story & photos by Randy S. Peregrino

YUNDAI Asia Resources Inc. (Hari), the Philippines’s official distributor of Hyundai passenger and commercial vehicles, recently hosted a year-end conference and celebration dubbed as “Runaway to the Future.”

GLS Sport A/T in Las Casas Filipinas de Acuzar

ON the freeway flaunting the Dynamic Shield design concept

CONDUCIVE and ergonomic interior

Continued from E1

S

INCE most of us haven’t encountered the vehicle yet, expectation was high as to what this highly anticipated vehicle has to offer. The destination was at the historic province of Bataan via the stretches of freeways passing through Subic Freeport and challenging zigzags of SBMA-Morong Road going to Las Casas Filipinas de Acuzar. Commissioned to us were 10 fresh units of the Xpander in varying editions. I was teamed up with fellow motoring scribe Aries Espinosa as we boarded the GLX Plus A/T variant.

At a glance, the all-new Xpander exudes that Mitsubishi Motors’s Dynamic Shield design concept exhibiting a unique and striking fascia. The luxurious grille along with the super slim positioning lights and the bumper headlamps are all positioned in a striking Xshaped pattern. Likewise, those LED position lamps arranged in a crystal-like blocks and the unique headlight design with improved illumination convey that unmistakable innovative look. Considered first in its class are those L-shaped LED tail lamps with rear combination lamps extending onto the tailgate. The overall adventurous and futuristic exterior guise is further enhanced by the 16-inch twotoned allow wheels. Exclusive to the top-of-the-line GLS Sport A/T are add-on kits, such as front and rear bumper skirts along with the contrasting side skirts.

When it comes to the interior, the design itself was a product of putting together customers’ thoughts, needs and desires accord ing to Mitsubishi Motor Corp. Corporate Vice President for Design Tsunehiro Kunimoto.

Everything inside was conducive from the well-crafted dashboard layout, panels and versatile seat configuration. Impressively, leg room in the first and second rows were generous enough even for tall passengers. The third row, meantime, also offers enough room for

adults thanks to the adjustable second-row benches.

In fact, we were amazed by how easy it was to access the third-row seats. Ingress and egress was definitely a walk in the park. Moreover, by collapsing the second and third row you’ll have a voluminous cargo bay for gears. We also liked the 7-inch capacitive touchscreen equipped with GPS Navigation System, MP3 player/Tuner with Auxiliary-in, USB port, Bluetooth connectivity and Easy Link feature.

Power-wise, the 1.5-liter petrol engine with Mivec system is just enough to easily propel the vehicle. Generating 105 hp and 141 N-m of maximum torque, t hese f ig ures are more t han substantial for your daily urban dwellings and out-of-town jaunts with the family. Another notable element is the mated four-speed conventional auto transmission for the top and mid variants.

Its longer gear ratios match the engine’s torque delivery. It was steady and even unrelenting when we had to push hard during our climb in the twisting road of Morong, Bataan.

On the road, one of the Xpander’s high points is its spacious, quiet and comfy ride. You’ll also appreciate the vehicle’s body frame design. We felt the ride more behaved and planted. Also noteworthy was how soft the damping was, as if you’re driving and riding a

THE 1.5-liter petrol engine with MIVEC system

midsize sedan. This provided enough tranquility inside the cabin, especially during our long stretches on the freeways. With the cruise control enabled, that part of our drive was the most relaxing and stress-free. You can also add to the overall convenience the ample cup holders everywhere.

But that’s not all as there are also extra compartments and enough 12-volt power outlets for gadgets and smartphones.

Steering, meantime, was soft enough at full stop but with good feedbacks on curves and you’ll begin to feel that stiffness as the speed increments for better control. Our assigned vehicle, the GLX Plus A/T, despite not being equipped with active functions such as the stability and traction controls, still impressively went through the challenging winding roads like a car. With the help of some good braking, steering control and constant engine braking, the vehicle managed to maneuver with less body rolls, as if it’s not standing tall at 205-mm ground clearance, curve after curve. Meanwhile, rear passengers definitely won’t complain about ambient temperature as there are enough ceiling-mounted air vents.

As for safety, the body itself is fortified with Mitsubishi Motors’s proprietary RISE (Reinforced Impact Safety Evolution) to absorb the impact of a collision. Also, there’s the standard front SRS airbags (driver and passenger), antilock braking system with electronic brake force distribution, Isofix, and tether anchors are standard across the board.

Moreover, in order to prevent rear collision, the ESS (the Emergency Stop Signal System), during sudden hard braking, activates and automatically flashes the hazard lamps to warn the drivers behind.

Exclusive to the top spec model are the active stability control, traction control and hill start assist functions.

INSIDE the all-new Accent’s cabin

GRAND Starex Urban edition

HYUNDAI Motor Co. (HMC) General Manager of HMC Regional Headquarters Joonmo Ahn (from left), HARI president and CEO Ma. Fe Perez-Agudo, Hari Chairman Emeritus Richard L. Lee and Hari Vice Chairman Conrad G. Marty posing with the all-new Accent

FACELIFTED Tucson compact SUV

Attended by the members of HARI’s 42-strong dealer network, members of the media and bank partners, the celebration represented the company’s vast achievements this year and its strong visions for 2019.

In line with the celebration, Hari also introduced three new edition vehicles plus a hybrid. The Korean automaker confidently rolled out one by one its newest front-runners for 2019 a facelifted compact sport-utility vehicle (SUV), an updated premium van, a hybrid car and an all-new version of the best-selling subcompact sedan.

First to be introduced was the facelifted version of the Tucson compact SUV. Minor changes where given while retaining its general fascia layout. The subtle changes are more in favor of further streamlining several elements to stay ignited and look as impeccable as it was when initially in-

the past 17 years convey Hari’s commitment in bringing delight to the most important market in the Philippines: the family. The new Grand Starex Urban will continue to offer a higher quality of driving experience as they indulge in its luxurious comfort, unparalleled craftsmanship and modern-premium style.

Capturing attention from the guests was Hyundai’s very own ecofriendly car—the Ioniq Hybrid. Displayed in numerous shows this year, this promising hybrid car represents what the Korean automaker has to offer when it comes to green solutions.

Sculpted with a unique exterior design philosophy dubbed as “Visual Aero”, the Ioniq Hybrid exudes confidence with a futuristic look inspired by the beauty of flowing air. It has earned sterling reputation for its state-ofthe-art

troduced. Aside from the minimal exterior upgrade, there were also changes made inside. With these upgrades, this dynamic crossover is deemed to join the ranks of the all-new Santa Fe and the Kona when it comes to bearing the mark of Hyundai’s new SUV family identity.

The second was Hari’s best-selling van—the Grand Starex Urban edition. Early this year, photos of its new look broke online with exterior upgrade notably the front end’s fresh and imposing look. When it finally rolled out, it bears Hyundai’s signature pronounced grille design united with sleek headlamps. This new look is now aligned to newer model’s design cues. Even the interior received several changes and upgrades highlighted by the new infotainment’s head up display. The van’s progressive refinements for

The Autohub Group now powered by

S

TANDING for uncompromising quality and unparalleled service, Pilipinas Shell signs an official Memorandum of Agreement with Autohub Group of Companies, exclusive distributor of premium automotive brands Rolls-Royce, Lotus, Nissan GT-R, MINI, Vespa, UM and Piaggio Ape to extend their alliance in helping make every journey better for their customers.

In attendance were Pilipinas Shell Petroleum Corp. President and Chief Executive Officer Cesar Romero, Pilipinas Shell Petroleum Corp. Vice President for Retail Anthony Lawrence Yam, Autohub Group of Cos. President Willy Tee Ten and Autohub Group of Cos. Vice President for Marketing and PR Norweijann Cruz.

The affiliation of the two companies was formalized last year with Mini Cooper recommending Shell as their official fuel. “We value this long-standing relationship that we have with the Autohub Group and we look forward to many more years of working with them,” said Romero.

The Autohub Group has been advocating Shell from the time they started their first dealership in 1999 with Ford. Now being recognized as the automotive group for innovative solutions, quality products, and reliable services, the partnership is extended beyond Mini Cooper to include their entire portfolio of automotive brands.

“We’ve been expanding, and we wish for Shell to be part of this growth in the next three years,” said Tee Ten.

“We see them as our ally in helping us reach greater heights. As we all know, this industry is very tough and competitive, and we believe that solidifying our partnership with Shell gives us an edge.”

Motorists are sure to benefit the most from this partnership, with The Autohub Group recommending Shell V-Power fuels to all their customers.

With Dynaflex technology designed to deliver both performance and efficiency, Shell V-Power is the best fit for their vehicles, to ensure smoothsailing drives under various road conditions.

What’s more, for every vehicle purchase made with The Autohub Group, new car owners will receive a Shell Welcome Kit containing Shell Fuels, Shell

oring

sMirror

Friday, December 14, 2018

O THE FUTURE

LTO looking into revamped driving exams Story & Photo by VJ Bacungan

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HE Land Transportation Office (LTO) is considering introducing a new driver’s license exam system to improve the country’s road safety standards.

LTO Field Enforcement Division Chief Roberto Valera told the BusinessMirror that the proposed exam will have two parts: a general exam and a specialized exam depending on the restriction code being applied for.

“Kasi [Because] previously, even until now, yung [the] exam is very general, so what applies to a nonprofessional driver’s license holder also applies to a professional driver’s license holder,” he said on December 4 at the sidelines of a VERA Files road safety forum at The Peninsula Manila.

“We want to change that kasi [because] we want to come up with drivers who are very knowledgeable about the specific restriction code that you have applied for,” Valera added.

However, Valera said there is no exact time frame yet for the revised exams as a technical working group is still looking into it.

Nonprofessional licenses are issued to private car owners, while professional licenses are issued to public-utility vehicle drivers. The two types use similar driving exams, with the latter having a higher passing rate.

The LTO’s license restriction codes include:Restriction 1—motorcycles/motorized tricycles Restriction 2—vehicles up to 4,500 kg in gross weight Restriction 3—vehicles above 4,500 kg in gross weight Restriction 4—automatic vehicles up to 4,500 kg in gross weight Restriction 5—automatic vehicles above 4,500 kg in gross weight Restriction 6—articulated ve-

IONIQ Hybrid

technology in achieving competitive fuel economy and environmentfriendly performance.

Taking center stage was the much-awaited debut of the manufacturer’s popular subcompact sedan—the all-new Accent. Donning a completely redesigned exterior, the new stunning appearance is exactly what everyone would want it to be. Indicative to its big brother Elantra’s look, the new generation Accent now shares Hyundai’s modern cars design cues. From the signature pronounced grille, keenlooking headlights, aerodynamic profiles, to the equally stunning rear end with stretched taillights, fanatics would surely love the new look even more. Even the interior was endowed with more refined dashboard and center console layout along with other elements.

Offered in turbo diesel and naturally aspirated petrol engine options, both are guaranteed to offer outstanding fuel efficiency and output.

The 1.6-liter CRDi with VGT mill is capable to produce 126 horsepower and an impressive 260 N-m of maximum torque. On the other hand, the 1.4-liter MPI with CVVT gasoline engine generates 98 horsepower and 132 N-m of maximum torque.

Both engine options are paired with a choice of a six-speed automatic or six-speed manual transmission.

Available in six variants, price may start at P725,000 according to Hari while the final price points are still being determined.

Summing up the celebration, Hari President and CEO Ma. Fe Perez-Agudo shared her message to the guests, “2018 brought extraordinary challenges in the marketplace, resulting

from the tough economic environment that tested our capabilities. As such, we have remained focused by laying down the groundwork to ensure an unhampered and successful takeoff of our business for the brand in 2019.” Agudo also pointed out that Runway to the Future is Hari’s way of expressing its appreciation to the Hyundai dealership network, friends from the media and partners in the banking industry who inspired the company in braving this year’s challenges in the automotive industry.

She added, “Given this backdrop, we look forward to take off and fly high towards more notable achievements, and set new records through innovative mobility, headlined by the Hyundai Grand Starex Urban edition, the Hyundai Tucson facelift, the Hyundai Ioniq Hybrid and the all-new Hyundai Accent, come 2019.”

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hicles that are 1,600 kg and below in gross weight Restriction 7—articulated vehicles that are 1,601 to 4,500 kg in gross weight Restriction 8—articulated vehicles that are 4,501 and above in gross weight Valera said although the Philippines has good road safety laws like the “Children Safety on Motorcycles Act of 2015,” the “AntiDistracted Driving Act” and the “Anti-Drunk and Drugged Driving Act of 2013,” more work must be done to improve Filipino driver behavior.

“We are talking about the risk factors,” he said. “Yun yung mga [These include] speeding, driving under the influence, nonuse of helmets when riding a twowheeled vehicle and those other special laws.”

Valera added that the agency has submitted to Congress an amendment to the Macapagal-era Republic Act 4136 or the “Land Transportation and Traffic Code” to include recently passed traffic and road safety laws.

“Hopefully, we’ll be coming up with a new Transportation Code and that’s where the standard

will already be included and will become part and parcel of the new law,” he said.

In the Global Plan for the Decade of Action for Road Safety, which is the United Nations’s road map to improving global road safety from 2011 to 2020, developing safer road users is among the organization’s “Five Pillars.”

This Pillar focuses on programs that improve road user behavior, as well as better enforcement of traffic laws. The other Pillars are road safety management, safer roads and mobility, safer vehicles and post-crash response.

The UN’s road map is one of the initiatives that respond to the World Health Organization’s (WHO) findings that road crashes could become the seventh leading cause of death worldwide by 2030, driven largely by the “escalating death toll on roads in low- and middle-income countries—particularly in emerging economies where urbanization and motorization accompany rapid economic growth.”

Valera said the LTO is, likewise working, with the country’s driving schools.

“We are now coordinating with them to come up with the harmonized module with regards to training their clients,” he said. “Kasi [Because] if you notice, ang [the] modules ng mga [of] driving school, they focus more on the practical aspect.

So we’re also going to focus on the theoretical aspect for them to be aware of the traffic rules and regulations.” “ This story was produced under the Bloomberg Initiative Global Road Safety Media Fellowship implemented by the World Health Organization, the Department of Transportation and Vera Files.”

Volvo leads the Japan Car of the Year again

y Shell Fuels

Select, and Deli2Go vouchers. This kit also comes with a Motorist Guidebook containing tips for effective car maintenance and worry-free travels.

By providing quality fuel products and services to motorists around the world, Shell gained its foothold as a global leader in power and energy sources for a reliable energy mix, producing smarter products and promoting its smarter use. Shell continuously builds smarter infrastructure, providing energy efficient engineering solutions that ultimately promote clean and efficient transport, sustainable mobility, energy efficiency and a new energy feature to address the energy challenge.

For more information, visit www. shell.com.ph

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PILIPINAS Shell Petroleum Corp. President and Chief Executive Officer Cesar Romero and Autohub Group of Cos. President Willy Tee Ten

HE fresh and feisty Volvo XC40 emerged victorious in the recently held Japan Car of the Year (JCOTY) Awards 20182019. Held at the Tokyo International Exchange Center, the votes from 60 jurors were decided in real time, in front of a crowd of Japan’s top publications and automotive executives.

After a neck-and-neck battle with the Toyota Corolla, the Volvo XC40 has successfully overtaken the competition 49 votes more, speeding away with a total of 363 votes and clinching the title.

The Volvo XC60 also won the

same award last year, making it the second time for an importer in Japan to win the prestigious prize. It is rare to have a non-Japanese car win in the JCOTY and Volvo securing back-to-back wins is certainly a nod to the Swedish carmaker’s attention to quality and excellent automotive engineering.

“After the XC60 won last year, we are ecstatic with this back-toback victory and I’d firstly like to thank our nationwide staff for this award. The XC40 is the perfect size and competitively priced for the Japanese market so we hope to transfer this award

into solid sales,” said Volvo Japan CEO Takayuki Kimura.

The XC40 completes Volvo’s premium lineup of sport-utility vehicles, adding to the Volvo XC60 and XC90. Design-wise, the XC40 is more of a cousin than a sibling to the larger 90 and 60 Series cars, with its own personality, expression and character. The XC40 is defined by a strong graphical design, a real feeling of strength and quality and a more playful nature in terms of colors and materials.

The XC40 is also the first Volvo to win the prestigious European Car of the Year award.

Motoring BusinessMirror

E4 Friday, December 14, 2018

BMW Motorrad & the Fil-Am golf

I drove down to Manila after the Seniors on December 6 and motored back to Baguio on December 9 where I will stay up to December 15, the concluding day of the Fil-Am Golf that has drawn more than 1,300 players from all over the world.

As I said, it’s been more than a decade for me of loving the Fil-Am Golf. As Nat King Cole crooned it, “When I fall in love, it will be forever.” Why not?

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DROPPED by at the BMW Motorrad event in San Fernando, Pampanga, last weekend on my way up to Baguio for the second and final week of the Fil-Am Golf Invitational.

PEE STOP In San Fernando during

BMW Motorrad

What a show that was, indeed, and the people behind the BMW event deserve kudos. Here’s a glass to you, Spencer Yu, for a job well done.

It was a shame I missed Levy Laus by mere minutes. He had to leave for an urgent Mitsubishi appointment, Spencer said.

When was the last time I had shaken the hand of Levy, a certified innovator and a visionary? I have always cherished Levy’s shining stature in the industry since the day I met him—in a plane— during a flight bound for Bangkok.

What a massive events center Levy had built in Pampanga’s prime city. Actually, the center, so huge already, is but a part of

the entire Laus complex that sells several of the country’s major branded vehicles.

Practically only Toyota is not part of the Laus vehicle empire and the reason has been that obvious from Day One: Company polic y prohibits Toyota from entering into a deal with a company already immersed into multicar dealerships.

Exclusivity, they call it.

It’s like not seeing Starbucks coffee being sold inside a bar/restaurant selling several brands of coffee, such as Kopiko or other three-in-one concoctions. Starbucks would lose somewhat its lofty standing in the brewing business if it decides to engage in a

free-for-all with its rivals, whether major or minor, under one roof.

Or seeing a San Mig beerhouse offering other beers not named San Miguel Beer. Simply, it cheapens the brand’s regal bearing.

What was the BMW Motorrad all about again?

IT featured BMW ’s big bikes, dominated by 1200 CCs. Each unit costs at least 1 million bucks plus—and that’s a good buy already. BMW big bikes are world class and will last you a lifetime.

But there are “smaller” ones also, costing at least P300,000 a piece; that’s a steal.

I’ve always been fascinated by

big bikes, even as I fell into a river driving a borrowed motorcycle with a lower engine displacement in my high school days in Pangasinan. It was a miracle, indeed, that I had emerged from it in one whole piece. Not even a gash. Never did that experience deter me from wanting to own a big bike.

I almost got one—for free. The spurned donor? Digong.

“You should have accepted it,” said Ken Angeles, the big bike enthusiast from Davao, himself the owner of several big bikes. “He has an array of big bikes, anyway. He likes you, you know.”

Almost once a year, Ken, who owns the famous Yellow Fin Tuna

Restaurant in Davao, and his fellow big bike lovers motor from Davao to Laoag City, with a stopover in Baguio City.

“I just love doing it at least once a year,” said Ken. “It’s like romancin’ with nature.”

And why am I here again in the City of Pines?

WELL, it was good timing that Spencer Yu’s event coincided with my trip to Baguio on December 9 to fulfill once more a commitment to do a Rules Man job in the Fil-Am Golf Invitational now on its 69th straight year, with Jake P. Ayson as my usual rules partner.

I arrived here on November 28.

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the BMW Motorrad event, it was nice reconnecting again with BMW bigwig Maricar Parco and regular BMW fixture Thea Geronimo, plus the trio of Lui Curitana, Frances Concepcion and Kate Tolentino.

Like Spencer, the threesome of Lui, Frances and Kate were also all formerly with Lexus. As the saying goes, Lexus’s loss is BMW’s gain?

Also present in the event was Vernon B. Sarne, the former Top Gear Philippines’s editor in chief who was just recently acquitted of the charge of falsely accusing a motorist of having committed a road crime. Cheers Vernon!...Aside from San Miguel Corp., Toyota Motor Philippines is another chief backer of the 69th Fil-Am Golf. Altis and Vios used to be the Toyota cars consistently staked as hole-in-one prizes in the Fil-Am Golf. This year, it is the Rush that is being dangled as the hole-in-one prize at No. 10 of Baguio Country Club and at No. 18 of Camp John Hay. Fore!