BusinessMirror December 19, 2019

‘GOLDEN RICE SAFE FOR HUMANS’

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Philippine government has approved the biosafety permit of Golden Rice (GR2E) for food, feed and processing (FFP) use after it concluded that the genetically modified crop, which seeks to reduce vitamin A deficiency (VAD), is as “safe” for human consumption as the conventional staple.

In a 22-page consolidated report, the Bureau of Plant Industry (BPI) pointed out that the Department of Health-Biosafety Committee (DOH-BC) concluded that GR2E “will not cause significant adverse health

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Thursday, December 19, 2019 Vol. 16 No. 70

BSP certain of 50 bps policy rate cut in 2020

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By Bianca Cuaresma

@BcuaresmaBM

T least” 50 basis points will be cut in the main policy rates next year, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno.

Diokno confirmed this to reporters on Tuesday night, responding to questions or clarifications regarding his earlier statement of rate cut considerations for 2020.

“As you can see, we provide forward guidance. We don’t want to keep it deliberately vague. We are transparent, we want investors and businessmen to be able to predict...

so on the interest rates, at least 50 basis points. At least. So that is the forward guidance,” Diokno said.

In its last meeting for the year, the Monetary Board kept its policy

“As you can see, we provide forward guidance. We don’t want to keep it deliberately vague.

We are transparent, we want investors and businessmen to be able to predict...so on the interest rates, at least 50 basis points. At least. So that is the forward guidance.”—Diokno

levers unchanged as growth trends higher and inflation remains within target range toward the end of 2019.

Despite the pause, Diokno said they will certainly resume the cuts next year to unwind the 175-basispoint increase in 2018, when the See “BSP,” A2

PHL financial inclusion push best in Asia

PESO exchange rates n

on vitamin A deficiency that’s affecting many of our preschool children and pregnant women,” PhilRice Executive Director Dr. John de Leon said in a statement on Wednesday when the biosafety permit was formally published in a national daily.

The Irri described the FFP approval for GR2E as a “regulatory milestone in the journey to develop and deploy” the GM crop in the Philippines.

“With this approval, PhilRice and IRRI will now proceed with sensory evaluations and finally answer the question that many Filipinos have See “Golden rice,” A8

P25.00 nationwide | 6 sections 64 pages |

Backlash against privatization:

Re-asserting public control over public services Rene E. Ofreneo

laborem exercens

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he rants of President Duterte against the “onerous” and “corrupt” water concession contracts between MWSS and the Manila Water and Maynilad corporations have received widespread support among the 15 million or so water consumers of Metro Manila. The two companies announced that they are giving up the billions that the Singapore-based arbitration court awarded to them. They are also suspending the implementation of any tariff increases in January 2020.

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BSP sees stable inflation until 2023; keeps targets

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HE Philippines’s financial inclusion program was ranked the best in Asia—tied with India’s—on the back of new advances in financial technology to include the unbanked and underbanked into the system.

Results of the Global Microscope 2019 published by the Economist Intelligence Unit (EIU), the research arm of The Economist Group, showed that the Philippines ranked fifth worldwide and first in Asia along with India in the promotion of financial inclusion.

The ranking was according to five standard categories, which consist of government stability and support; stability and integrity; products and outlets; consumer protection; and infrastructure.

According to the Bangko Sentral ng Pilipinas (BSP), the report cited the continued implementation of the National Strategy for Financial Inclusion (NSFI) under the guidance of the interagency Financial Inclusion Steering Committee (FISC).

Recent initiatives, like the launch of the national digital ID system, onestop shop program for online government services, and creation of the Bangko Sentral ng Pilipinas (BSP) of the Financial Technology Sub-Sector (FTSS)—a supporting unit oriented towards digital financial technology for the underserved—also helped boost the country’s rankings.

Bianca Cuaresma

effects to human and animal health.”

Furthermore, the report said consumption of GR2E“is unlikely to result in allergic reaction.”

The report, published recently, said, “the regulated article is as safe and nutritious as food or feed derived from conventional rice varieties.”

The regulators’ approval came over two years after GR2E’s proponents, the Philippine Rice Research Institute (PhilRice) and the International Rice Research Institute (IRRI), applied for the biosafety permit.

“With this FFP approval, we bring forward a very accessible solution to our country’s problem

RESILIENT Monetary Board member and former Agriculture

Undersecretary V. Bruce J. Tolentino discusses the need for amending the agri-agra law to widen the ways by which banks can better serve the farm sector, among others, during a roundtable with the BusinessMirror journalists on Wednesday. He painted a rosy outlook for the economy, describing the farm sector as resilient.

Tolentino also hailed the confirmation by the Commission on Appointments of Agriculture Secretary William D. Dar. See story, “Archaic agri-agra law up for amendments,” on page A8. BERNARD TESTA

WB extends $4-B loans, grants to PHL for ’19-‘23

By Cai U. Ordinario @caiordinario

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HE World Bank will be extending over $4 billion worth of loans and grants to the Philippines under its new Country Partnership Framework (CPF) for 2019-2023.

Based on the CPF, loans to be extended, at least between 2020 and 2022, will be around $4.22 billion to $4.42 billon,

while the amount of grants closing 2020 onward amount to $14.2 million.

The Washington-based lender said in a statement the CPF will prioritize investments in human capital (health, education, nutrition), competitiveness and job creation, peace-building, climate and disaster resilience, governance, and digital transformation.

“The Philippines can deepen inclusive growth and broaden shared

prosperity by tackling child malnutrition and learning gaps in education; promoting policies that create more and better jobs for Filipino workers; and focusing on the dual risk of conflict and natural disasters that hurt poor communities,” said Mara Warwick, World Bank country director for Brunei Darussalam, Malaysia, Philippines and Thailand.

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FTER last year’s inflation fiasco, the Bangko Sentral ng Pilipinas (BSP) said it expects the growth of consumer prices to be relatively smooth sailing up until 2023.

The Central Bank on Wednesday issued a statement saying it is retaining its 2-percent to 4-percent target range up until 2023, on the assessment of a favorable supply and demand balance four years ahead.

“While price volatilities cannot be ruled out, inflationary impulses from international commodity prices are expected to remain modest. This expectation is supported by the current assessment of favorable demand-supply balance and lower pass-through to domestic inflation of exchange rate and international commodity price inflation,” the BSP said in a statement.

“Similarly, demand-induced price pressures are likely to remain manageable over the target horizon. Improved productive capacity of the domestic economy, fueled by higher infrastructure investments by the national government alongside the implementation of purposeful structural reforms, implies continued robust economic growth amid a low and stable inflation environment,” the Central Bank added.

The announcement of the inflation target is in line with the

BSP’s commitment to transparency and accountability, as well as the forward-looking approach in the conduct of monetary policy.

The BSP last missed its target range in 2018 when inflation skyrocketed to 5.2 percent. Its target range for the year was also at 2 percent to 4 percent.

The rise in inflation during the year was largely due to unstable rice prices, which carry a large part of the consumer price index (CPI) basket for local consumers.

In a roundtable interview with the BusinessMirror on Wednesday, Monetary Board member Bruce Tolentino said they see rice prices being “more stable” in the coming years.

In 2019, the Monetary Board member noted that the farm-gate price of rice sank to its eight-year low due to the surge of rice imports as fueled by the opening up of the markets during the year.

Tolentino said by next year, both consumers and farmers will have adjusted to the reforms in rice markets and the programs under the rice tariffication law will be fully rolled out, thereby stabilizing prices down the line.

T he BSP ’s assessment also showed that a 2-percent to 4-percent inflation is “conducive to the balanced and sustainable growth of the Philippine economy.”

US 50.6070 n japan 0.4621 n UK 66.4217 n HK 6.4996 n CHINA 7.2329 n singapore 37.3263 n australia 34.6557 n EU 56.4167 n SAUDI ARABIA 13.4937

Bianca Cuaresma Source: BSP (18 December 2019 )

A2 Thursday, December 19, 2019

News

BusinessMirror

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Senate, House ratify higher ‘sin’ taxes for UHC

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HE Senate and the House of Representatives ratified on Wednesday night the final version of the higher “sin” tax bill, hours after members of the bicameral panels from the two chambers of Congress endorsed their reconciled version, seen to raise additional revenue to fill the funding gap in the first year of implementation of the Universal Health Care law.

The version ratified by both senators and members of the House of Representatives will be submitted to President Duterte for signing into law within the week.

The final upward rate adjustments of so-called sin taxes on cigarettes and alcohol products were crafted by the bicameral panel in a marathon session to meet a self-imposed deadline to pass the

revenue measure before Congress adjourns for its traditional Christmas recess this week.

Based on estimates of the Department of Finance (DoF), the approved bicameral version will generate P22.2 billion in incremental revenues from alcohol and e-cigarettes during the first year of implementation. But due to an amended provision exempting

specific prescription medicines from value-added tax (VAT), revenues from the measure will decrease by P5.2 billion, for a total of P17.1 billion worth of net incremental revenues for 2020.

“We really wanted to get additional funding for health care,” Senator Pia Cayetano told reporters after a bicameral panel reached an agreement on new rates for tobacco products, including electronic cigarettes, as well as alcoholic drinks.

Cayetano chairs the Senate ways and means panel. Her counterpart is Albay Rep. Joey Salceda.

As endorsed by the bicameral panel, the new rates will be collected soon after Duterte signs the bill into law, with a provision that sin tax collections will be earmarked for: Universal Health Care, 60 percent; Health Facilities Enhancement Program, 20 per-

cent and Sustainable Development Goals, 20 percent.

The approved rates to be adjusted annually are as follows: ■ Fermented Liquor (specific tax rate): P35 in 2020, P37 in 2021, P39 in 2022, P41 in 2023 and P43 in 2024, with a 6-percent indexation thereafter.

■ Distilled Spirits (specific tax rate with 22 percent ad valorem tax): P42 in 2020, P47 in 2021, P52 in 2022, P59 in 2023 and P66 in 2024, with a 6-percent indexation thereafter.

■ Sparkling and still wines (specific tax rate): P50 in 2020, with a 6-percent indexation thereafter.

■ Heated Tobacco Products or HTPs (specific tax rate): P25 in 2020, P27.50 in 2021, P30 in 2022 and P32.50 in 2023, with a 5-percent indexation thereafter ■ Salt Nicotine (specific tax rate):

P37 in 2020, P42 in 2021, P47 in 2022, P52 in 2023, with a 5-percent indexation thereafter ■ Free Base (specific tax rate): P45 in 2020, P50 in 2021, P55 in 2022, P60 in 2023, with a 5-percent indexation thereafter Cayetano said she would have preferred the higher tax rates originally proposed under Senate Bill 1074. Nevertheless, she stressed that she respects the democratic deliberations that happened during the bicam, which paved the way for the bill’s approval.

“As a health advocate...I have two roles: increasing the ta x for purposes of UHC [and using taxation] as a deterrent to the consumption of a product that is not healthy...I had hoped [for higher tax rates], but that is how democracy works, that is how we work as a bicameral house, so the

figures we have are what they are and they will still go a long way,” the senator said.

“At the end of the day, I pushed [for this measure] until the very end. [We will] try to do a better job next time, [and] try to find additional sources,” she added, in a mix of English and Filipino.

Senate members of the bicam panel included Senators Imee Marcos, Ronald de la Rosa, Francis Tolentino, Koko Pimentel, Minority Leader Franklin Drilon, and Senate President Pro Tempore Ralph Recto.

They were joined by their House counterparts, including Deputy Speakers Luis Raymund Villafuerte, Raneo Abu and Deogracias Victor Savellano, and Representatives Estrellita Suansing, Jack Duavit, Sheena Tan, Sharon Garin, Teodorico Haresco Jr. and Jose Antonio Alvarado. Butch Fernandez,

WB extends $4-B loans, grants to PHL for ’19-’23 “The new Country Partnership Framework aims to help overcome the core constraints that continue to hamper the country’s efforts to address the remaining vulnerability of many Filipino families,” she added.

Under the loans, the World Bank will finance four DPLs worth $1.7 billion.

The DPLs are the Promoting Competitiveness and Improving Resilience to Natural Disasters I, worth $400 million, and Third Disaster Risk Management Development Policy Loan with Catastrophe Deferred Drawdown Option (CAT-DDO), worth $500 million, to be financed in 2020.

The other two, worth $400 million each, will be financed between FY 2021 and 2022. These are the Promoting Competitiveness and Improving Resilience to Natural Disasters II, and Promoting Competitiveness and Improving Resilience to Natural Disasters III. The list also includes 12 Investment Project Financing (IPF) loans worth $440 million in 2020 and a maximum of $2.28 billion in 2021-2022.

IPFs to be financed in 2020 are the $80- million Philippine Customs Modernization Project and two standby IPFs,

BSP. . .

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BSP had to raise interest rates due to the accelerating inflation during the year.

The governor said, however, that the timing of those cuts will still be determined by local and international developments.

“We are observing what the other central banks are doing. Right now the sentiment is still easing. So what will be the implication if other central banks keep cutting rates and we don’t cut our own?

Money will flow into the Philippines. That is hot money and we don’t want hot money because they will be taking advantage of the Philippines,” he said.

“At the moment we are very comfortable where we are. The economy is doing good—inflation low, unemployment low, the exchange rate is very stable. So we are happy where we are,” Diokno added.

No rush on RRR cut

For the reser ve requirement ratio

Pay hike. . .

the $100 million Teacher Effectiveness and Competencies Enhancement Project and $260-million Support to Parcelization of Land for Individual Titling Project (SPLIT).

For 2021 and 2022, the IPFs include the $300-million Seismic Resilience and Emergency Management Project, Sustainable Tourism Project and National Community Driven Development Project Additional Financing.

Other IPFs include the $280-million Philippine Rural Development Project (PRDP) Additional Financing and the $100-million Mindanao Inclusive Agriculture Development Project, Civil Service Modernization and Human Resources Management Project, and Marawi Reconstruction and Rehabilitation Project.

Two project—the Marikina Dam project, estimated to cost between $400 million and $500 million, and the Agus-Pulangi Hydro Rehabilitation Project, from $200 million to $300 million—are also included in the pipeline.

The grants that will close in 2020 onward include the $2.73-million PHRD Pillar IV- Preparation of a Program Towards Sustainable Flood Management in the Greater Metro Manila Area, and the

(RRR), Diokno said they are in no rush to cut the deposit reserves of banks. Their target to bring it down to single digits by the end of Diokno’s term, however, still stands.

“My term will end in mid-2023 so I still have 14 quarters. So that is 500 basis points over 14 quarters. So I am not in a hurry to cut the reserve requirement,” Diokno said.

“Now, we are evaluating where the banks put the money from the RRR cuts.

Do they really lend it out, or do they just return it to us? Because if they just return it to the BSP that is very costly. We want them to lend to small-scale industries. So on the RRR cut, we can take it slow,” he added.

At present, the BSP’s overnight reverse repurchase (RRP) facility is at 4 percent.

Accordingly, the interest rates on the overnight deposit and lending facilities are at 3.5 percent and 4.5 percent, respectively.

RRR of banks, meanwhile, is at 14 percent of their total deposits.

The BSP monetary board will be having its first meeting for 2020 on February 6.

Continued from A8

under the miscellaneous personnel benefit fund.

The bill seeks to raise the minimum basic salary, Salary Grade 1, from P11,068 to P13,000, to remain competitive with the minimum daily wage in the National Capital Region (NCR).

For personnel of National Government Agencies (NGAs), the salary schedule shall be implemented in four tranches, with the first tranche beginning on January 1, 2020, the second tranche beginning on January 1, 2021, the third tranche beginning on January 1, 2022, and the fourth tranche beginning on January 1, 2023.

“The salaries of government personnel will be raised closer to market rates while giving priority to the rank and file consisting of Sub-Professional and Professional categories,” he said.

According to Ungab, one of the principles of the other standardization law is that government pay must be comparable with the private sector.

The proposal raises salaries by a significant amount, especially in the lower Salary Grades.

For positions allocated to Salary Grades 11 to 13— for ex-

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$410,000 CADF Support to the LBP Carbon Finance Support Facility.

The list includes the $5.07-million Philippines Cebu Bus Rapid Transit Project-CTF Loan TF; $5-million PHRural Development Project (PRDP); $80,000 Philippines Methane Recovery and Combustion with Renewable Energy Generation from Anaerobic Animal Manure Management System; and the $910,000 Quezon City Controlled Disposa l Fac i l it y Bioga s Em ission Reduction Project.

“With the new Country Partnership Framework, the World Bank Group renews its commitment to support the Philippines by mobilizing financing, global knowledge and technical expertise, to support reforms and programs that help speed up poverty reduction, and promote greater inclusion,” said Victoria Kwakwa, World Bank vice president for East Asia and the Pacific.

The World Bank, Warwick added, will support a cohesive approach to Mindanao’s development and intensify efforts to engage the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), including reconstruction support for Marawi.

Agri-agra law. . .

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The thrift banking sector followed the universal and commercial banks’ trend, with a 1.2- percent compliance rate versus the 10-percent mandate for the agrarian reform sector, and 6.19 percent versus the 15-percent mandate for the agricultural sector.

Even rural and cooperative banks— whose major markets are the countryside farmers and fisherfolk—are finding it increasingly hard to comply with the mandatory lending to the agrarian reform and agricultural sector, data from the Central Bank showed.

“The fact is that the banking system has grown so fast so the 15 percent is now a huge amount. So we unified and called it agriculture and said that all projects in the rural agricultural areas will be qualified then compliance [will be] so much easier.

And more enterprises will be able to access finance,” Tolentino said.

ample, Teachers 1, 2, and 3—the increase in salary shall be 30.1 percent, 27.1 percent, and 24.5 percent, respectively, upon full implementation.

Ungab said that consistent with Duterte’s pronouncement in his State of the Nation Address last July 2019, the proposed salary adjustments will cover all civilian personnel, including teachers and nurses. This shall cover government personnel whether regular, contractual, or casual, appointive or elective; and on full-time or part-time basis.

Ungab said the bill also considered the results of the study on compensation and benefits in the public sector, which the Department of Budget and Management (DBM) and the Governance Commission for GOCCs conducted together with a private consulting firm.

“Said study aimed to determine the competitiveness of government pay in relation to the private sector and developed a compensation strategy to bring government pay closer to market rates, thereby attract and retain competent and dedicated employees to the civil service,” Ungab said.

Speaker Alan Peter Cayetano, principal author of the bill, said like many Filipinos, public servants depend on their jobs as their main source of income.

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Editor: Vittorio V. Vitug • Thursday, December 19, 2019 A3

Strict security in place for Ampatuan case promulgation–BJMP and PNP T

HE Bureau of Jail Management and Penology (BJMP) will implement strict security protocols in Camp Bagong Diwa, Taguig City, in preparation for the promulgation of the Maguindanao massacre case today, Thursday.

“Strict security protocols will be observed inside Camp Bagong Diwa in Taguig City,” BJMP Spokesman Jail Chief Insp. Xavier Solda said in a news statement sent to reporters.

Meanwhile, Philippine National Police (PNP) Spokesman Brig. Gen. Bernard Banac said the National Capital Region Police Office (NCRPO) is on alert for the promulgation.

“All police personnel are ready to give escort and security,” Banac told reporters in a news briefing on Wednesday.

While noting that there no threats monitored in the area of promulgation, Banac urged the public to remain calm, but alert and vigilant.

“At the moment, we have not received any

validated threat against security, but we assure Rep. Esmael ‘Toto’ Mangudadatu and all families of the victims that their security remains paramount,” Banac added.

He also assured that the PNP is ready to provide additional security detail through the Police Security and Protection Group when requested, subject to existing laws and policies.

Earlier, the Supreme Court has released guidelines for media coverage of the long-anticipated promulgation of the decision in the Maguindanao massacre case.

Court Administrator Jose Midas Marquez and Assistant Court Administrator Brian Keith F. Hosaka assured the public that the High Court will immediately upload the decision of the trial court in the case on the SC web site as soon as possible.

Only two video cameras will be allowed to take footage of the proceedings, to be provided

and manned by the personnel of the state-run People’s Television Network (PTV), upon the request of the High Court.

The first camera of PTV shall be directed at the judge and whoever will read the decision, on a wide-angle shot, while the second camera of PTV shall be directed at the lawyers, counsels and the parties, also on a wide-angle shot.

In no case will the shot pan the surroundings, or zoom in on any individuals inside the courtroom.

On December 13, NCRPO Acting Chief Brig.

Gen. Debold Siñas announced the deployment of 730 policemen for the security measures during the promulgation.

Siñas, meanwhile, said the Taguig City police will also be on alert.

The NCRPO also assured the security of the judge and the prosecutor of the case.

Rallying is not allowed in front of Camp

Suspected meth worth ₧141 million seized at FedEx warehouse at Naia

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T least 20.8 kilos of suspected shabu worth P141 million was seized at a FedEx warehouse at Ninoy Aquino International Airport on Wednesday.

The drugs were shipped from the United States and were concealed in two parcels declared as speakers, Naia Customs Collector

Carmelita Talusan said.

Customs personnel assigned at the warehouse discovered the drugs when the parcels passed the x-ray machine.

The white crystalline substances tested positive as methamphetamine.

Talusan did not identify the consignee and sender because of the ongoing investigation. The

drugs were turned over to the Philippine Drug Enforcement Agency.

“The bureau remains vigilant in its duty to guard the country’s borders, and prevent the entry of illegal contrabands,” she told reporters.

Talusan also reiterated that the importation of dangerous drugs is a crime. Recto Mercene with PNA

Bagong Diwa so as not to disrupt the flow of traffic, Siñas said. He also said that signal jamming would not be implemented.

On the other hand, supporters of both Ampatuan and the victims of the massacre would stay in separate areas outside the camp to prevent any untoward incident between them.

Today’s promulgation will involve the accused masterminds of the massacre led by brothers former Datu Unsay, Maguindanao Mayor Andal Ampatuan Jr. and former Autonomous Region in Muslim Mindanao Gov. Zaldy Ampatuan. The family patriarch, the late Maguindanao governor Andal Ampatuan Sr., was also among the principal suspects but died in detention in July 2015.

The suspects were charged with multiple murders for planning and direct participation in the massacre in Sitio Masalay, Barangay Salman in Ampatuan town, Maguindanao. PNA

LTFRB warns TNCs charging ‘exorbitant fares’

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HE chief of the Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday alleged that transport network companies (TNCs)— or those that offer mobile-based ride-hailing services—are “exacting exorbitant fares” from the riding public this holiday rush.

Martin B. Delgra III, who chairs the transport regulator, said ridehailing apps “may face sanctions,

should they continue to exact exorbitant fares from the riding public this holiday season.” He did not name a specific provider that is allegedly overcharging passengers this month.

“We will not hesitate to remove your permit if you will not follow your mandate that is spelled out on your contracts,” Delgra said, adding that fares should be within the fare structure guidelines set by the transport regulator.

He noted that the board is now reviewing and monitoring the fare setting computations of companies to determine any violation on the fare structures.

Sought for comment, a Grab spokesman said the company only charges fares that are compliant with the fare guidelines set by the regulator. “Our fares have always been compliant with the fare matrix of the LTFRB,” the spokesman said.

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Business

Thursday, December 19, 2019

POGOs: Path to peril or prosp

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By VG Cabuag

T was the last night of a popular musical based on TS Eliot’s poem about felines at Solaire Casino: one of four big integrated resorts and casinos to open in Entertainment City, which sits on a reclaimed land facing the Manila Bay. Like most casinos, Solaire’s self-parking zone is free. It dedicated an entire building for its parking space, enough for vehicles that go to the $1.2-billion facility owned by billionaire Enrique Anselmo K. Razon Jr. But that night, a Friday, was exceptional and most of the parking floors were full.

One of the theater goers left the theater before a cast sang of how one addresses a cat and drove his car higher the parking building. There he saw rows and rows of white vans; many are Toyota HiAce vans that can fit 15 or so and the much pricier, 8-seater Alphard.

He later found out that the entire two or three floors of Solaire’s parking space were occupied by these white vans that shuttle Chinese workers of Philippine offshore gaming operators (POGOs) to and from their place of work and their respective residences.

The POGO business exploded and rattled many businesses, mainly in the property market— residential, office spaces and even

retail. A section of the Manila Bay area became their haven, marked by the sprouting of restaurants with Chinese-only menu.

Prices rising

DAVID LEECHIU, CEO of Leechiu Property Consultants, credits the rise of real-estate prices to the growth of POGOs.

“Unlike Filipinos overseas [who] take home their money, they [Chinese POGO workers] are spending most of their money here,” Leechiu said. “It may have caused prices of property to rise; but it is the time to finally invest more.”

He added that POGOs could be credited with the “increase in the tax base.”

He explained that the Chinese POGOs naturally want to be at The Bay—how the developed areas near the Manila Bay are referred to collectively—since it’s near the airport. Leechiu’s data showed that 38 percent of these POGOs are located on The Bay. Many, however, have already taken up space in commer-

cial and entertainment areas such as Makati and Alabang. Since then, employees of POGOs could also be seen in Cavite, Quezon City, Ortigas, Pampanga in Clark Field and even in Cebu.

Leechui’s statement—that the entry of POGO has been a boon to the property market—is highly debatable, especially by the developers themselves who see the POGOs as representing a curve ball.

Recurring income

AFTER the 1997 Asian financial crisis, many investors are now looking for the recurring income in property development. This means money should not be just coming from the sale of the units so that the property business can withstand the cyclicality of the industry. Recurring income should come from rents in every form—shopping malls, hotels, dorms and offices.

Like the parking lots at Solaire during peak hours, many argued that Chinese workers are taking up prime space that should have been meant for the Filipinos. As demand for prime property increases, prices of these spaces have gone up.

The characteristics of this industry were already seen in wealthier Western countries like Australia and Canada, when Chinese investors came in.

The only difference between the Philippines and these Western countries is that the Chinese that are coming here are not migrants, and only the good relations between the country and China are putting it together, like walking on eggshells.

What is happening in the Phil-

ippines is far different, a CEO of a conglomerate said.

“These people [POGO employees] came from the second-tier and third-tier cities in China who failed to enter China’s main cities like Beijing because their education is below the standard,” the CEO, who requested anonymity, said.

“Therefore, they have certain habits frowned upon by us.”

Operational rules

ACCORDING to the Philippine Amusement and Gaming Corp.

(Pagcor), there are currently 60 POGOs with licenses employing about 138,000 foreigners as of first half of the year. However, some estimates the number at just 120,000 as they say that some of the Chinese work for two or three POGOs.

Pronove Tai International Property Consultants Inc. estimates that, to date, there are close to 200,000 Chinese nationals working in the offshore gaming sector.

Pagcor, the regulator and also operator of various gambling joints of mainly casinos in the country, conceptualized POGOs “to enable the Philippine government to capture a greater share of the growing, yet previously unregulated, online gaming pie.”

In 2016, it issued rules and regulations covering the operations of a POGO. A POGO is an entity that offers and participates in offshore gaming services by providing games to players, taking bets and paying winning bettors.

The gaming activities include online games of chance through the Internet, using a network and software, exclusively for offshore-

authorized players who have registered and established an online gaming account with a Pagcor-licensed POGO. Filipino citizens, even while overseas, are not allowed to play.

Pagcor issues a license to qualified operators, which could be Filipino-based operators or foreignbased operators.

The POGO framework also covers service providers that provide the various components of gaming operations, such as the gaming software provider, business outsourcing provider, and content streaming provider. These providers also need to secure a Pagcor license.

One POGO license requires a minimum of 10,000 square meters of office space, or an equivalent of two entire floors of a building or a small shopping mall.

Pesos, payments

ACCORDING to Pagcor, POGOs require three categories of office space. Some POGOs require space that offer live streaming while women serve as dealers for online games. Category two and category three are subsectors of the business-process outsourcing (BPO) industries that provide back-office support.

“So, for example, if there are questions on how a game is played online, they will provide clarifications. That is why you need a lot of Chinese- and Mandarin-proficient people, and that is why they require a lot of office space,” a Pagcor official who requested anonymity told the BusinessMirror. “And, in the same manner, if they have

difficulties—if, for example, the website is down, there has to be an IT [information technology] guy.”

For this year alone, about P8 billion entered the market, according to Pagcor, representing revenues from offshore gaming operators. The amount is a third higher than last year’s P6 billion.

Then there’s the rent that POGOs pay for office space and where workers live.

However, some camps say the disruptive manner that a Chinese POGO impacts on several sectors may not be even worth it. Likewise, the governments of the Philippines or China may pull the plug on the “program” at any time.

Employee skills

GAMBLING is banned in China but POGOs have found a way to skirt such prohibition by going online, with operations housed in a remote area outside the world’s second largest economy.

The issue of Chinese POGO employees who are here has nothing to do with their skills or how they work but on how they interact with the locals, the conglomerate CEO said.

“They are perceived as rowdy, smoke and drink a lot,” he said, adding this is disturbing the community itself, which could eventually bring down the value of a property.

The CEO’s company had developed a posh, gated subdivision in Taguig, and many of the brokers of the houses there are renting out some of the empty units of mostly two floors to four floors, with a market value of about P25 million to P100 million.

aderLook

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Editor: Dennis D. Estopace | Thursday, December 19, 2019

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MINDAUGA DULINSKA | DREAMSTIME.COM

perity for PHL property sector?

He said even his son retrofitted a unit and tried to rent this out to Chinese workers. However, this was short-lived as the homeowners’ association decided to boot out all POGO workers living in the subdivision.

Many POGOs are shuttling the employees to and from their workplace to the place where they live, using the white vans that are parked somewhere else. That, too, also disturbs the community as they come in droves, with many of the vehicles coming unmarked, the conglomerate CEO said.

Rise range

ACCORDING to Pronove Tai, the sustainability of the offshore gaming demand is a lingering issue for property developers, particularly since its growth is highly attributed to consistent and reliable policy and regulatory measures by the government.

“This uncertain environment in offshore gaming firms’ growing existence in the country has resulted in major property developers limiting their exposure to POGOs to an average of 8 percent to 12 percent of their total office space portfolio,” Pronove Tai said.

A large property developer like Ayala Land Inc. has admitted it limits POGO operation, as well as where Chinese employees live, in certain areas of their development.

Property prices may have increased as a result of the huge demand from the Chinese, the conglomerate CEO said. However, property values plummet as soon as they start living there due to implications, he added.

As a result, many of the investors are now scrutinizing how much a property developer can expose themselves with POGOs. Pronove Tai forecasts prices will continue to rise by a range of 6 percent to 8 percent per annum.

“Although prices will continue growing, it may not necessarily be driven by the offshore gaming sector,” Pronove Tai said in a briefing paper.

A property developer can only sell up to 40 percent of its available for-sale unit to overseas buyers, which include Filipinos working abroad. Ayala Land’s sales to the Chinese for the nine months of the year ending September were at P7.1 billion, down by a quarter from last year.

Take-up

ANDREW TAN’S Megaworld Corp. has taken a different path. Walk through Megaworld development projects in Quezon City and in Pasay fronting Terminal 3 of the Ninoy Aquino International Airport in Pasay and there’s a visible presence of Chinese nationals.

Tan started his fortune on renting out offices in Libis in Quezon City before the BPO sector boom in the Philippines.

POGOs shored up Tan’s office leasing business and kept on growing. However, BPO investments have been falling since 2017 due to a confluence of factors.

Pronove Tai noted, however, that the offshore gaming sector’s presence in the country started in 2003 and not just two years or three years ago.

According to Leechiu Consul-

tants’ data, POGO take-up this year overtook those of the traditional BPO sector.

POGO take-up for 2019 was at 738,000 sqm, up 66 percent from last year’s 443,000 sqm. The BPO sector, meanwhile, only took up 573,000 sqm this year, down 14 percent from last year’s 652,000 sqm.

Yearly progress

ACCORDING to Pronove Tai, since the POGO licensing was clarified and established in 2017, offshore gaming has continued to rank as one of the top three demand drivers of Metro Manila office space.

However, it is important to note that as at the second quarter of the year, POGOs only account for 1 million sqm, or 9 percent, of the total office stock in the metro as compared to 54 percent and 35 percent of traditional offices and IT business process management (BPM), respectively.

The office market has an annual average of supply and demand at around 1.1 million sqm, respectively, in the last three years, the Pronove Tai brief said.

“The vacancy rates remained at a manageable level of 4 percent to 5 percent in the same period,” it added. “With high supply and early absorption of the key cities of Makati, Pasay and Parañaque, offshore gaming firms have managed to grow their operations significantly by taking up the bulk of the new office supply.”

Amid the slowing growth of the IT-BPM industry due to both global and local headwinds, offshore gaming firms took over by

absorbing significant office space by an average of 302,000 sqm per year in the last three years. This is 1,000 percent higher than the recorded annual demand from 2013 to 2016, Pronove Tai explained.

Demand fuel

THE offshore gaming sector was the real-estate industry’s “unsung heroes” amid headwinds on the IT-BPM sector as well as declining foreign investments, slower remittances by overseas Filipino workers and weaker purchasing power of the Philippine peso in 2017, Pronove Tai said.

The property consulting firm’s briefer said that as of third quarter of the year, the Philippine real-estate market has reached a 10-year strong demand fueled by robust economic performance.

“Instead of slowed growth in the residential and offices’ capital values and rents in 2017, it increased remarkably due to the strong offshore gaming demand,” the company said. “This created better yields or investment returns for property developers as well as ordinary landlords.”

“Offshore gaming firms have also created a new market, particularly in the retail sector,” Pronove Tai said, adding that Chinese nationals working in offshore gaming firms are converging in coffee shops, restaurants, convenience stores in the cities of Makati, Pasay, Mandaluyong, Parañaque and in Quezon City.

Expected take-up

ACCORDING to Pronove Tai, residential prices as well as rents,

particularly in residential condos, are being pushed beyond the buying-financial capacity of ordinary Filipinos.

“The strong demand from offshore gaming firms resulted in significant growth in prices of realestate properties, especially near CBDs [commercial and business districts], as Chinese nationals working in POGOs are known for not negotiating the contract price of transactions.”

In the office market, the rental rates have increased most notably in offshore gaming firms’ preferred office destinations of Makati City and Bay Area (Pasay City and Parañaque City). Both Makati City and Bay Area have increased tremendously by 29 percent and 47 percent, respectively, in the last three years.

In the residential market, the prices of both for a mid-end to high-end condominium in Makati City and Bay Area surged to an estimated average of 30 percent in the last three years.

With future office spaces being taken by offshore gaming firms, foreign nationals working in offshore gaming firms will continue to fill residential villages and condominiums in Metro Manila.

Very hard

CHINESE nationals working in offshore gaming firms are earning much higher at around P80,000 to P100,000 monthly compared to the P25,000 to P45,000 earned

by Filipino nationals, Pronove Tai said.

These Chinese nationals are spending their money on food, entertainment and branded items

such as clothing, accessories and gadgets. The retail sector could benefit heavily from this Chinese market.

Edgar “Injap” Sia II, chairman and CEO of Double Dragon Properties Corp., said they asked for rental security deposit worth one year of their rent and an advance payment of six months before they allow a POGO to rent.

Double Dragon has a mixed-use development called Meridian Park along Roxas Boulevard also near the Manila Bay. Of the 130,000 sqm of completed space for the office rentals, around 60 percent of these were already occupied by POGOs. Some 80 percent of these are taken up by the Chinese while the rest are Koreans and Europeans.

“For us, either way, we have covered ourselves. We think that with this location, one year is more than enough to replace traditional office locators,” Sia said. “That’s why we don’t want to build office buildings, especially for the POGOs, or those in the secondary, outlying areas.”

With such hesitation on the POGOs, many have not asked if POGOs would still grow but rather if it would stay.

“We’re still in the early stage [of POGO maturity]. I never thought the POGOs would enter the BPO scene,” Leechiu said. “It takes time to grow the management; it takes time to build talent and these communities to accept them.”

But when asked if POGOs would one day be bigger than the current BPO, he said: “I don’t know.

[It’s h]ard to say. They may stop growing.”

A6 Thursday, December 19, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Filipino scientists: The world’s best

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dengue outbreak was reported across Southeast Asia early this year, but the Philippines posted the highest number of cases and confirmed deaths. The Department of Health reported a total of 271,480 dengue cases from January to August 31 this year, prompting the declaration of a national dengue epidemic following the death of 622 patients. Health Secretary Francisco Duque III made the declaration to improve the response to the outbreak by allowing local governments to draw on a special Quick Response Fund.

According to the World Health Organization, the other Southeast Asian countries that also reported an upsurge in dengue cases this year are Malaysia, which registered 62,421 cases through June 29, including 93 deaths; and Vietnam, with 81,132 cases with four deaths reported during the same period.

Some critics have blamed the Duterte administration for the dengue outbreak, saying the government created a nationwide dengue vaccine phobia when it banned Dengvaxia, after its manufacturer reported that it could cause severe effects on patients not previously exposed to the virus. Duque defended the government’s decision, saying that the World Health Organization did not recommend the use of the vaccine as an outbreak response.

The good news is that we may have seen the last dengue outbreak in the country following the formulation of the first anti-dengue medicine in the world by Filipino researchers (See, “World’s 1st dengue drug, made by Pinoys,” in the BusinessMirror, December 17, 2019). Lyn Resurreccion, BusinessMirror’s Science editor, reported that this revolutionary anti-dengue medicine may be commercially available by the end of next year.

Dr. Rita Grace Y. Alvero, program leader of the dengue herbal clinical trial from Pharmalytics Corp., disclosed on Monday that the researchers from Pharmalytics and De La Salle Medical and Health Sciences Institute have concluded Phase 1 of the clinical trial for the drug against dengue that they got from three plant components. They are hopeful that it will be approved for marketing by the end of 2020.

“We have completed the pre-clinical testing. We have completed the safety analysis in animals. We are now in the human testing. We have just concluded the Phase 1 clinical trial. [Based on] our findings, there was no dose-limiting toxicity,” Alvero said.

“We will probably start Phase 2 and Phase 3 by the first quarter of next year. We will end by the third quarter. [Then] we will apply for marketing authorization. Hopefully by the end of 2020 the anti-dengue drug may be out [in the market],” Alvero said. She clarified that it will not be a herbal supplement. “It is a drug. That means it has a scientific basis to back up the efficacy of the anti-dengue drug.”

Dr. Jaime Montoya, director of the Philippine Council on Health Research and Development, said the anti-dengue drug made by Filipinos “is the very first in its class. No country, even the United States, has an anti-dengue drug produced. We are looking forward to this.”

Alvero’s anti-dengue drug project was started in 2012, for a processing period of eight years. The dengue research was part of the Department of Science and Technology’s Tuklas Lunas program to produce reliable and affordable medicines sourced from the country’s rich biodiversity. Science Secretary Fortunato T. de la Peña said Tuklas Lunas has 28 centers all over the country and 28 research-implementing institutions. A total of P1.5 billion was invested in the program since it started in 2011.

Considering the average cost of bringing a medicine from invention to pharmacy shelves—estimated at $2 billion (P100 billion) to $3 billion (P150 billion), only the best scientists can do wonders with a piddling budget.

Kudos to our Filipino scientists…the best in the world!

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Backlash against privatization: Re-asserting public control over public services Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

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an the twins absorb these “losses”? As unearthed by Congress and the mass media, they can because the two giant companies are, in fact, very much in the black, with each one netting at least P6 billion a year.

This brings us to the bigger policy issue: is the government prepared to put the water distribution business back in public hands? President Duterte made the threats that, if needed, the military can even take over the operations of the twins.

To the trade union groups affiliated with the Public Sector International (PSI) and civil-society organizations, such as the Freedom from Debt Coalition (FDC), governments have indeed the policy option to re-assert public control over the privatized delivery of public services.

Not necessarily through a violent military seizure of private facilities and operations in a privatized public corporation or service. Governments and citizens’ groups can strategize a

smooth re-claiming of these public corporations and services through myriad approaches such as re-nationalization, formation of consumer cooperatives, establishment of “public-public partnerships” and so on. In Europe, they call the reversal of privatization “re-municipalization,” which essentially means re-asserting the power of government (in various municipalities or localities) and the citizens in each service area to manage and set the development directions for the de-privatized companies and services.

This re-municipalization or deprivatization process has become a global phenomenon. Per report of the PSI and Transnational Institute of Amsterdam, there were 835

Governments and citizens’ groups can strategize a smooth re-claiming of these public corporations and services through myriad approaches such as re-nationalization, formation of consumer cooperatives, establishment of “public-public partnerships” and so on.

cases of re-municipalization in 45 countries between 2000 and 2015.

These involve a number of big cities such as Paris and Berlin.

Germany, Europe’s biggest economy, has the most number of remunicipalization cases: 347 in all, mostly in the energy sector. And surprisingly, the re-municipalization has become a joint effort of members of the conservative CDU government and the radical Green Party, meaning the arguments in support of re-municipalization (clean, efficient and affordable energy) are shared by all regardless of political or ideological persuasions.

In the re-municipalized power utility of Berlin, several “participatory instruments” were also developed: formation of a Democratic Advisory Board (with representatives from the employees and the citizenry), public assemblies (for consultation on energy issues), right to initiative

(meaning policy change can be instituted with the signature of 3,000 people) and appointment of an ombudsperson (to serve as the utility’s link with customers).

In summary, the re-municipalization/de-privatization phenomenon is a backlash against the dogma of privatization, which have been marketed as the panacea for the inefficiency, unaffordability, limited coverage and corruption in the delivery by government agencies of public services such as water, power, waste collection and so on. And yet, after four decades of proselytizing by the IMF, World Bank and neoliberal economists, privatization has failed to deliver to the people the promised gains: efficient, affordable, universal and honest delivery of public service or goods.

These happen to be the same promises made in the Philippines by the proponents of privatization, from the time of President Corazon Aquino onward. These promises remain undelivered, as documented in the cases of water and power, and as reflected in the fact that water and power rates in the country are among the highest in Asia. The water companies are also accused of not paying taxes, the same charge being pinned on the National Grid Corp. (partly owned See “Ofreneo,” A7

The $680-million question of what the boss knew

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By Andy Mukherjee | Bloomberg Opinion

nil Ambani, the younger brother of Asia’s richest man, faces a $680-million legal test to answer one and only one question: Just what did he know about what his employees were doing on his behalf? Other Indian tycoons will take an abiding interest in his defense.

The $680 million is the amount Industrial & Commercial Bank of China Ltd. is seeking to recover from the former Indian billionaire by invoking what they say is a personal guarantee he gave in 2012 to secure a $925-million loan for Reliance Communications Ltd., his mobile services firm that’s now in bankruptcy. Ambani, whose older sibling Mukesh controls Reliance Industries Ltd., India’s most valuable company, claims he never knowingly provided any guarantee.

In his version, he had only authorized his employees to furnish a non-binding “personal comfort letter” to lenders, including ICBC, China Development Bank and the ExportImport Bank of China. Somehow, that letter of comfort morphed into what the banks now argue to be an iron-clad guarantee under English law. “A truly remarkable feature of

Mr. Ambani’s case,’’ London Judge David Waksman said in his order on Monday, “is that he has himself proffered no explanation as to why he should have been deceived in this way.” As to how personal assets were put at risk unbeknownst to the boss until RCom defaulted in 2017, the order noted that Ambani’s lawyer had argued that his client’s “position was that ‘he hasn’t got a clue’ how all of this came about.” Judge Waksman stopped short of awarding the summary judgment requested by ICBC, though not before characterizing Ambani’s evidence as “inexplicably incomplete, implausible and highly unlikely.”

A trial will commence next year.

Pending the verdict, the court may ask some or all of the claim to be deposited with it. Ambani’s representative focused on the judge’s decision to dismiss the banks’ application for

a summary judgment. “Mr. Ambani has contested the proceedings and put up a strong legal defense, and will continue to contest the proceedings and seek leave to defend, without any conditions as to making of deposits or payments being imposed,” the representative said in a statement, according to Bloomberg News.

This is the younger Ambani’s second brush with the pitfalls of personal guarantee. Earlier this year, he managed to avoid a three-month prison term when his elder brother showed up just in time to settle the $80-million claim of Ericsson AB. The Swedish telecom equipment maker had obtained a contempt-ofcourt order to put Ambani in jail if the payment—which he had personally guaranteed—wasn’t received by March 19.

Other Indian business families should treat Ambani’s travails as a cautionary tale.

When India’s economy was booming, and firms were greedy to use leverage to grow, many of their controlling shareholders liberally gave out personal guarantees to lenders.

But the rosy assumptions behind aggressive, debt-fueled expansion have come unstuck for many borrowers in

an economy that has slowed down sharply. The Ruia family recently lost its crown jewel—a 10 milliontons-a-year integrated steel plant in western India—to ArcelorMittal.

Even here, the former asset owners had backed their borrowings with personal guarantees, and State Bank of India, the main lender, had even made an attempt to enforce them.

With Mittal’s $6-billion check in the bank, that recovery may have now become a moot point. But from December 1, personal guarantees on corporate loans will be adjudicated under Indian bankruptcy law. That will put a healthy fear in the minds of Indian businessmen about borrowing too recklessly. Their own assets could end up getting liquidated together with those of their companies.

As for Ambani, he’ll get his day in an English court to prove his lack of awareness. The bar is high, though.

“I consider it extremely unlikely that his role was really limited to simply chairing board meetings with little or no interest or role in what RCom was doing, especially in the context of a major refinancing which was needed urgently,” Judge Waksman noted.This has all the ingredients of an engaging courtroom drama.

Opinion BusinessMirror

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Boris Johnson’s Brexit is more ‘slow deal’ than ‘no deal’

Joseph the righteous man

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Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

By Therese Raphael | Bloomberg Opinion

he financial markets had a rude awakening on Prime Minister Boris Johnson’s first day back at the office. Instead of using his new parliamentary majority to push for an ambitious trading relationship with Europe post-Brexit, Johnson doubled down on his election pledge to rush ahead and complete trade talks next year, suggesting there will be either a bare-bones deal or no deal at all. Either way, that would be bad for the UK economy.

The Brexit deal struck by Johnson in October allows for a one- or two-year extension for more considered trade negotiations; Johnson is waiving that option. Instead, his Withdrawal Agreement Bill to be presented to Parliament on Friday will contain a new provision making it illegal for Britain to request an extension to the current transition period, which runs until the end of 2020.

It may seem odd that a government with an 80-seat majority would tie its own hands when setting out on the country’s most important negotiations in a generation. But Johnson’s move speaks to two domestic audiences: the Leave voters who gave him his majority, and the Brexit ultras in his parliamentary party who still carry weight. Fortunately, he has left himself more wriggle room than might be obvious at first glance.

In order to win over Brexiters, and neutralize Nigel Farage’s Brexit Party, Johnson pledged not to extend that initial transition period.

He has also indicated that he won’t agree to European Union demands on “level playing field” provisions, which would keep Britain aligned with the bloc on areas such as state aid, and social and environmental regulations. He’s sending this electoral base a signal that he’s as good as his word.

To the public, his move says “I know why I’m here.” If his election proved anything, it was that people are tired of Brexit and are less bothered by the terms of exit than how quickly it happens. Johnson is well aware that trust in politicians is extremely low, and that his own reputation for honesty is poor. He doesn’t want to be seen to renege on something that won him the election.

His move also signals to the class of new MPs, especially those from Leave-voting northern England, that they must deliver on Brexit if they’re to hold those seats in future.

Ultimately, that will mean finding ways to make the lives of these largely blue-collar voters visibly better, something that Brexit will make much harder. But many British voters appear deaf to the threat of economic damage from quitting the EU: the political imperative is just to get it done.

Sticking to a hard Brexit line also speaks to the parliamentary Tory party’s euroskeptic wing. Johnson’s majority is mighty, but the European Research Group of hard-core Brexiter lawmakers—the ones largely responsible for ending his predecessor Theresa May’s time in office Brexit— hasn’t gone away. While Johnson has a “stonking mandate,” as he calls it, a war of attrition around the negotiating table in Brussels could wear on that support.

The New Statesman’s Stephen Bush notes that the former Labour Prime Minister Tony Blair was dealt a major defeat by his own party at

Ofreneo . . .

continued from A6

by the State Grid Corp. of China), which has a monopoly on the grid transmission business.

In addition to the foregoing privatization failures, one must include the phenomenon of deepening social and economic inequality that privatization is causing. The country’s taipans and the biggest corporations have been focusing

Brexit deadlines tend to be delayed. Whatever blocks against extending the transition are passed in Parliament, nobody really thinks that the EU and UK governments, if they chose, couldn’t find a way to give themselves more time. It’s been done before.

N his narrative of the birth of Jesus, Saint Matthew is giving us a theological reflection on the meaning of Jesus. The birth narrative is like the overture that sounds the themes that would be developed in the symphony proper. Joseph, the husband of Mary, plays the prominent role of exemplary receptor to the divine plans (Matthew 1:18-24).

Mary’s husband Mary is officially betrothed to Joseph; they have formally married each other. But they do not live together yet and must still go through the period of waiting and preparation for the conjugal life. It is at this stage that Mary is found to be pregnant. A big scandal because Joseph and Mary have not yet had sexual relations. Had she illicit sexual relations with someone else? Joseph the injured husband does not want to claim his right to a public inquiry to determine how Mary got pregnant. That can only worsen Mary’s situation. Joseph being a righteous man and intent on observing the law of zero tolerance against adultery is decided to break their marriage as quietly as

the height of his powers in 1997, and so was Margaret Thatcher in 1986, when 72 MPs voted against her plans to change restrictions on Sunday shop openings. Of course, neither of these votes was on such an historic issue. But Bush’s point—that it only takes 40 angry Brexiter lawmakers to overturn Johnson’s majority—is worth noting.

None of this will be of particular comfort to business, which has promised to be more vocal during the trade talks. Johnson’s stance means that a smaller deal, on a narrower range of trade areas, is in play than company bosses would like. It also makes a damaging no-deal conclusion to the talks more likely—hence the pound’s plunge on Tuesday.

And there’s unlikely to be any certainty until well into 2020. Neither the EU nor the UK have set out clear negotiating objectives nor agreed the sequencing of the talks. A shortened time frame means plenty of thorny issues—from services to data— probably won’t be tackled. Nor is it clear that negotiators in Brussels will work in quite the same way as during the withdrawal talks. Michel Barnier is still running the discussions, but this is a new European Commission with major reforms and budget talks of its own to worry about. And trade talks offer more opportunity for differences to emerge between EU member-states.

There are two slim silver linings. First, the worst-case scenario isn’t the economically cataclysmic “No Deal” we worried about for much of 2019. The terms of the divorce are already agreed, EU citizens rights secured and the Irish border question resolved (in a fashion). There have been plenty of preparations by governments and business for extra customs and regulatory checks.

What is more likely is what one might call a “low-deal Brexit”—or even a “slow-deal Brexit” since the first trade deal may agree a few basic areas and leave the door open to forging closer ties on others later.

The second reason not to panic is that Brexit deadlines tend to be delayed. Whatever blocks against extending the transition are passed in Parliament, nobody really thinks that the EU and UK governments, if they chose, couldn’t find a way to give themselves more time. It’s been done before.

Yet, this is the wrong way to view the war in Afghanistan—and think about the choices America still faces.

Afghanistan is best seen, not as a morality play, but as a classic foreign policy dilemma in which all the options are bad ones.

For starters, the fact that the war is not going well—in the sense that the Afghan government is not close to standing on its own—has been obvious for years. Yes, US officials have sometimes downplayed the negatives and highlighted the positives, and there have always been professional incentives for American soldiers and civilians to tell a story of progress rather than despair. Yet, Afghanistan is not Vietnam, where policy-makers argued—and most Americans believed—that they were close to victory right up until the Tet Offensive in 1968.

Journalistic accounts, analytical reports, and even memoirs of US officials have catalogued the depressing reality of the Afghan security situation for over a decade. When President Barack Obama surged tens of thousands of additional US troops in 2009, he was candid about the grim reality they would confront. “Huge challenges remain,” he said. “The Taliban has gained momentum,” al-Qaeda was resurgent, Afghan security forces remained unimpressive. And both Obama and President Donald J. Trump chose not to withdraw from Afghanistan—despite their obvious desire to end the war—because they worried it would cause the Afghan

their wealth-creating zeal on various projects that can be developed under the government’s privatization program, from the delivery of basic public goods to the construction of varied infrastructures under the government’s “Build, Build, Build” program. The lure of privatization business is difficult to resist, especially if this means the transformation of a public monopoly into a private monopoly.

Right now, one major area of competition among the taipans is

the so-called privatization of water districts that are supposed to be supervised by the Local Water Utilities Administration. Instead of developing the water systems for the underdeveloped areas and municipalities, the big water companies, such as PrimeWater of the Villars and InfraCapital Water of the Aboitiz’s are cherry-picking, buying up profitable and well-developed water districts in the developed cities of Luzon, Visayas and Mindanao. As former DAP official Segundo Romero put

possible while trying to save as much of Mary’s honor as possible.

Joseph is acting on the distinction between the person and the person’s perceived sin, trying to respect the person while not undercutting the purpose of the law in a world of law. This struggle is, in fact, an ongoing tension in the life and ministry of Jesus. He will be teaching that the center of the law is love of God and love of neighbor (Matthew 22:37-39), which must flow through and interpret every particular law. The law must be fulfilled (Matthew 5:17-18), but keeping in mind that “unless your righteousness exceeds that of the scribes and Pharisees, you will never enter the kingdom of heaven” (Matthew 5:20). You have to go

Thursday, December 19, 2019 A7

beyond the law to fulfill the law, a paradox connected with the coming of Jesus from the beginning.

Doer of God’s will

Joseph does not get around to carry out his plan of quietly divorcing his wife Mary. He is introduced to God’s plan, experiencing in a dream a direct divine communication. Joseph moves beyond ordinary waking consciousness into deeper regions of awareness open to him, a direct, personal experience of divine intentions. He is told that the child his wife has conceived is from the Holy Spirit, and his part in God’s own plan is to shelter Mary and be a father to the child exercising the legal authority to name him “Jesus, for He will save His people from their sins.” The evangelist also supplies us the deeper reason why Jesus will save His people from their sins: He is “Emmanuel, God with us.” Divine presence means forgiveness of sins; the people themselves will name him Emmanuel because through him they will experience liberation from the bondage of sin.

The creative tension continues in Joseph’s personal contact with the divine. His Jewish tradition labels as scandal what has happened to Mary and to their marriage, but Joseph is told it is the Holy Spirit at work. Tradition calls for divorce, Joseph’s dream experience orders him

to take home his wife. His righteous intention regarding Mary is his attempt to bring love into the world of law, forgiveness to what looked like sin. And now his naming the child Jesus gives to the world the very source of forgiveness of sins, not only to the house of David but to all people grounded in God. This “God with us” at the beginning of Matthew’s gospel is matched at the end with the mountaintop words of Jesus: “I am with you always, to the end of the age” (Matthew 28:20).

Alálaong bagá, at the heart of our Christian way of life is to “hear and obey”—as Joseph wakes from sleep and carries out the divine instructions to take Mary as his wife and look after the child. To discern God’s voice amid the cacophony of human noise is to be awake. To perceive the divine dimension of what is transpiring around is to enter into a world permeated with the divine, not frozen in scandal but creative in the power of the Spirit. As “hearer and doer” of the Word of God, one is united to the life-giving truth.

The sacred writer tells the readers that Mary’s child is the work of the Holy Spirit.

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

‘The Afghanistan Papers’ reveal a tragedy, not a crime

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By Hal Brands | Bloomberg Opinion

government to promptly collapse. Afghanistan is the war America keeps fighting not because we think we are on the verge of success, but because we understand that we are uncomfortably close to failure.

To some extent, that sad trajectory reflects America’s own errors and misjudgments. The invasion of Iraq under George W. Bush diverted resources and attention from Afghanistan at a critical time. It made little sense for the Obama administration to pursue a vastly more ambitious nation-building and counterinsurgency mission in 2009 while simultaneously announcing that US troops would begin to withdraw just 18 months later. The larger reality, though, is that there never was a magic bullet for winning—or even ending—the war.

It is sometimes argued that the Bush administration should have pursued a truly comprehensive Afghan political settlement—in essence, making peace with the Taliban—when US leverage was at its peak, just after the American coalition’s initial victory in 2002. But strategy is not made in a political vacuum, and imagine the domestic politics—only a year after 9/11— of legitimizing a group that had distinguished itself for its brutality, inhumanity, and willingness to make common cause with al-Qaeda.

What was politically inexpedient may also have been strategically unwise. There was little indication then, just as there is little indication now, that the Taliban were genuinely

interested in democratic politics and power-sharing, as opposed to using a settlement as a tactical ploy in the struggle for primacy.

Or consider the debate surrounding the strategies the US did pursue.

It is true that America’s most expensive strategy—manpower-intensive counterinsurgency, combined with efforts to promote good governance and economic development—failed to produce sustainable security, and that the infusion of outside money fueled catastrophic corruption. Yet, the Obama administration adopted that strategy because the prior approach—the Bush-era light-footprint—had created security vacuums, empowered brutal warlords, and made the Afghan government less willing to alienate key power players by tackling corruption. The Bush administration had chosen that strategy, in turn, because it feared that a larger presence would mire the US in a never-ending nation-building project. The alternative to one bad strategy was another bad strategy.

Perhaps, then, the right approach was simply to withdraw after having thrashed al-Qaeda and the Taliban in 2001–2002. But that would have required accepting the near-certainty that Afghanistan would quickly revert to be a failed or rogue state, that there would be an even quicker alQaeda resurgence, and that Osama bin Laden would claim to have once again forced a superpower to retreat.

Reasonable people can debate, with the benefit of hindsight, whether the United States should have accepted these risks as the price of avoiding another two decades of war.

But the tragic dilemma of Afghanistan is that there have always been costs of withdrawal, as well as costs of continued intervention.

That’s worth keeping in mind as the prospect of an American withdrawal—whether undertaken unilaterally, or following a peace settlement—is once again discussed by the Trump administration and leading

Democratic presidential candidates.

There are compelling reasons to seek an exit, from the pressing reality of competing priorities to the sobering fact that, sooner or later, an American that was not even born on 9/11 will be killed in action in Afghanistan. And it seems doubtful that additional nearterm military pressure on the Taliban will lead to a dramatically better longterm peace settlement.

Yet, there are also reasons to be wary of withdrawal. Carter Malkasian, who has studied the war as closely as anyone, has written that the most likely consequence of a US pullout is a Taliban takeover of most—perhaps all—of the country.

The Taliban itself is unlikely to execute or encourage terrorist attacks against the US, but it is also unlikely to prevent terrorist groups from setting up shop in Afghanistan, as they did before 9/11. (The one notable exception is Isis, with which the Taliban have often clashed in the past. Yet, even Isis might flourish after an American withdrawal, if this brought an end to US counterterrorism strikes.) As Malkasian argues, “The United States should recognize that the most direct route out of Afghanistan is to live with the threat of terrorism.”

The best option, then, may be deeply unsatisfying—reducing US forces to the minimum level required to conduct counterterrorism strikes and help the Afghan forces hold major cities, while accepting that the Taliban will run most of the countryside.

That’s not a good outcome, but it isn’t catastrophic, and it can probably be achieved at an acceptable price.

What is critical, though, is to weigh America’s alternatives—past and present—in a way that reflects just how difficult those choices have always been. Decades from now, the best accounts of America’s war in Afghanistan will surely stress the mistakes Washington has made. Yet, they will also remind us that foreign policy is so hard because all of the options are often unattractive.

it, the local water business has become “the new battleground” among the big corporations. And as water prices and consumer complaints go up, the “developmental” mission of privatization (mentioned in various laws) goes down.

Clearly, it is high time that the policy-makers and the citizenry push for an honest-to-goodness review and overhaul of the privatization program that has been in place in the last four decades. In the documentation study by PSI and TNI,

re-municipalization/de-privatization does not mean a simple return to the old pre-privatization arrangement. Public service delivered by government should be raised at a qualitatively higher level. One way of achieving this is through the institutionalization of the participatory instruments as illustrated in the case of Berlin’s re-municipalized power utility. Another way is to bring back transparency and accountability in management, or in the words of the leaders of the re-municipalized

energy company in Nottingham (UK): “No private shareholders, no director bonuses, just clear transparent pricing.”

Finally, there should be a clear vision on how public services and goods can be delivered for all in an inclusive, participatory, democratic, sustainable and progressive manner. The “visioning” program should be a public-public partnership, not superficial consultation with a few corporations and their neoliberal advisers.

S America’s two-decade war in Afghanistan a tragedy or a crime?

A recent series in the Washington Post contends that it is more the latter than the former. For years, the argument goes, US officials systematically lied regarding the prospects for success, while blithely downplaying the corruption and dependency American intervention fostered. The title of this series—“The Afghanistan Papers”—is meant, clearly, to echo the Vietnam-era Pentagon Papers.

It implies that we should see this conflict, like Vietnam, as a misbegotten war fought in the service of illusions and lies.

A8 Thursday, December 19, 2019

‘Archaic’agri-agra law up for amendments

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By Bianca Cuaresma

@BcuaresmaBM

DECADE after its initial enactment and after bouts of controversies surrounding the effectivity of its mandate, the agriagra reform law of 2009 is now up for amendments to expand the banks’ modes of compliance to the law.

The House of Representatives held back-to-back hearings on Tuesday and Wednesday for House Bill 5681, an act mandating banking institutions to strengthen the financing system for agricultural, fisheries and rural development in the Philippines.

“When the Agri-Agra Reform

Credit Act was enacted, it was optimistically regarded as a cureall for the many ills plaguing our country’s agriculture sector….

Unfortunately, the idea that was meant to revolutionize the industry fell short of achieving its goal.

Because banks found it a hardship to invest in an industry perceived

to be fraught with risks, the concept of institutionalizing mandatory lending merely resulted in widespread non-compliance with the law,” said Rep. Junie Cua, the principal author of the bill.

“The proposed measure seeks to institutionalize a framework that is more responsive to the needs of the agricultural sector while providing for ways for the banking industry to take on a more expansive role in line with a policy approach that is coordinated, systematic, broad-based and inclusive,” he added.

In a roundtable press chat on Wed nesd ay, Monetar y Board member and former Agriculture Undersecretary for Policy and Planning Bruce Tolentino discussed with the BusinessMirror the salient provisions of the filed bill.

“Hearings for the new bill, as filed by Congressman Junie Cua,

10% The percentage of total loanable funds that banks are mandated by the Agri-Agra Reform Credit Act of 2009 (Republic Act 10000) to allot to agrarian reform beneficiaries (ARBs).

They are required to allot 15 percent for farmers and fisherfolk

started yesterday and will continue today. So those hearings are for the bill that was drafted by an interagency committee which included the Bangko Sentral ng Pilipinas [BSP], Land Bank of the Philippines [LBP], the Development Bank of the Philippines [DBP] and the Bankers Association of the Philippines [BAP],”

Tolentino said.

“The principal objectives of the bill is that No. 1, banks will find it much easier to comply with the agri-agra requirement. The difference between agrarian and agriculture will be erased so we unified the definition so there will be a lot more focus on agriculture,” he added.

The Agri-Agra Reform Credit Act of 2009 (Republic Act 10000) mandates banks to allot at least 10 percent of total loanable funds for agrarian reform beneficiaries (ARBs) and 15 percent for farmers and fisherfolk. Under the amendatory bill now under congressional scrutiny, the required allotment for agrarian reform beneficiaries and agriculture will be merged to a whole 25 percent, with no delineation as to what percentage is needed for agrarian reform and for agriculture.

According to Tolentino, there will also be options for the banks to comply with the requirement, not only by loans but also by investing in equity, as well as working with other banks to be retail lenders to farmers.

Grants, too

Options will also be available for large banks to contribute not only in the form of loans but in the form of grants, particularly grants for training and research and development.

In end-September 2018, universal and commercial banks’ compliance with the 10 percent required lending to the agrarian reform sector hit 0.79 percent, while their compliance with the 15 percent required lending to the agricultural sector hit 12.95 percent.

See “Agri-agra law,” A2

House OKs govt workers’ pay hike ₧3-B aid WATER LACK, DELAYED to farmers INFRA IMPERIL GROWTH released T

By Jovee Marie N. dela Cruz @joveemarie

HE House of Representatives on Wednesday approved on third and final reading a measure increasing the salary of civilian government employees, including nurses and teachers, under the proposed Salary Standardization law (SSL) 5.

Voting 187 affirmative and 5 negative, the lower chamber passed House Bill 5712, which seeks to modify the salary schedule for civilian government personnel and authorize the grant of additional benefits.

The measure was certified urgent by President Duterte. It will now be transmitted to the bicameral conference committee to rec-

EASTERLIES AFFECTING THE WHOLE COUNTRY as of 4:00 pm - December 18, 2019

oncile the differences between the versions of the Senate and the House.

House Committee on Appropriations Chairman Isidro Ungab, sponsor of the bill, said the proposed 2020 General Appropriations Act already provides P34 billion for the implementation of the first tranche salary increase See “Pay hike,” A2

By Cai U. Ordinario @caiordinario

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HE Department of Budget and Management (DBM) has a lready released a total of P3.024 billion of Rice Fa r mer Fina nc i a l A ssist a nce Program to the Department of Agriculture (DA).

This will be used to fund the first round of unconditional cash transfers (UCT) to be given to rice farmers affected by the plunge in farm-gate prices.

To cover the funding requirements for the Rice Farmer Financial Assistance Program, the DBM released the Special Allotment Release Order last December 16 in line with Presidential Directive Item 2 issued on November 21, 2019, as confirmed by the Office of the President.

“The P3 billion for financial assistance for farmers was sourced from the Unprogrammed Funds,” Budget Secretary Wendel E. Avisado said in a text message to the BusinessMirror.

Agriculture Secretary William Dar also confirmed the release of fund to be used for cash transfers to farmers.

Payouts of P5,000 to farmers will start on December 23, in Pangasinan and Nueva Ecija, according to Dar. “Yes, [this is for the first round of UCT for farmers], charged to 2019 budget,” Dar told the BusinessMirror via SMS. This, after the Agriculture department signed a memorandum of agreement with government banks LandBank and Development Bank of the Philippines, stipulating the guidelines for disbursement of cash assistance to farmers who were considered most affected by the implementation of the rice tariffication law.

The P3 billion worth of cash transfers is expected to benefit a total of 6,000 farmers.

Eligible for cash aid are those who till 1 1/2 to 2 hectares.

Another P3 billion in cash assistance will also be distributed to farmers next year, Dar earlier said.

Funding for next year’s cash assistance will be sourced from tariffs collected in excess of P10 billion from rice imports that entered the country from March 5, until December 31.

Under the rice trade liberalization law, the government could earmark rice tariffs exceeding P10 billion to other progams, such as direct cash assistance.

Bernadette D. Nicolas

W

ATER shortage and delayed infrastructure projects are considered threats to the country’s economic performance next year, according to the National Economic and Development Authority (Neda).

However, Socioeconomic Planning Secretary Ernesto Pernia said growth will remain robust and the controversy created by the review of the concession agreement with two private companies will not dampen the appetite of investors in the country.

“Of course, the trade war between the US and China is still continuing although it has softened a bit and we hope it would soften further. And then of course [there’s] our natural disasters which are a common phenomenon in the Philippines [including a] possible water shortage in the summer months,” Pernia said.

The Neda chief remains optimistic that the full-year growth target of 6 percent to 6.5 percent can be achieved. GDP growth in the fourth quarter could also average 6.7 percent.

In 2020, Pernia said the GDP growth target of 6.5 to 7.5 percent will also be achievable despite the headwinds he cited.

Neda Undersecretary for Policy

Golden rice. . .

Continued from A1

been asking: What does Golden Rice taste like?” IRRI said.

“The Philippines has long recognized the potential to harness biotechnology to help address food and nutrition security, environmental safety, as well as improve the livelihoods of farmers,”IRRI Director General Matthew Morrel said.

IRRI said the Philippines is now among the few countries that have recognized GR2E as safe for human consumption after Australia, New Zealand, Canada and the United States.

It’s about time—Tolentino Former IRRI Deputy Director General and now Monetary Board Member V. Bruce Tolentino said the approval of the GR2E has been“delayed”for so long, depriving Filipinos of a viable option to combat VAD. “It’s about time. It’s been much delayed. In fact, Australia, New Zealand, Canada and Bangladesh already approved it. We started the research and yet we are lagging behind,” Tolentino told the BusinessMirror.

Biotechnology Coalition of the Philippines Executive Secretary Abraham Manalo said GR2E is the “first” locally

and Planning Rosemarie G. Edillon said private consumption will remain the strength of the Philippine economy.

Edillon said the growth of the domestic economy fueled by consumption will “more than make up” for external headwinds, such as the US-China trade tensions.

“Private consumption will be really robust given the slow inflation, especially food inflation, [and] the government consumption, as we have seen, showed there was really a catchup,” Edillon said. “We know that external demand is [quite] slow but domestic demand will more than make up for it.”

Neda Undersecretary for Regional Development Adoracion M. Navarro said the National Water Resources Board (NWRB) will meet this week to discuss the water shortage in Angat Dam. The NWRB is responsible for all water resources in the Philippines.

It coordinates and regulates waterrelated activities in the country that affect the physical environment and economy.

Navarro said the water shortage is part of the tail end effects of the El Niño phenomenon this year. The meeting aims to engage agencies, especially those in charge of food and water security, to create interventions.

developed GM crop approved for FPP in the country.

Manalo added that the BPI has already approved around 60 events for FFP from crops, such as corn, soybean, cotton, potato, sugar beet, which are all developed abroad. “This approval of a Pinoy biotech product is a testament to science-based regulation in our country,” he told the BusinessMirror.

IRRI said the GR2E is “intended to be used in combination with existing approaches to overcome VAD, including eating foods that are naturally high in vitamin A or beta-carotene, eating foods fortified with vitamin A, taking vitamin A supplements, and optimal breastfeeding practices.”

IRRI said VAD among Filipino children aged six months to five years increased from 15.2 percent in 2008 to 20.4 percent in 2013 despite the successful public health interventions, such as oral supplementation, complementary feeding and nutrition education.

“The beta-carotene content of Golden Rice aims to provide 30 percent to 50 percent of the estimated average requirement of vitamin A for pregnant women and young children,” it said.

“To complete the Philippine biosafety regulatory process, Golden Rice will require approval for commercial propagation before it can be made available to the public,” it added.

News BusinessMirror

www.businessmirror.com.ph

PHL slips in human freedom index; economic freedom pulled by poor score in ‘rule of law’

By Cai U. Ordinario @caiordinario

F

ILIPINOS have become less “ free” as the Philippines slipped five notches in the Human Freedom Index (HFI) copublished by three foreign think tanks.

The Philippine was ranked 76th out of 162 economies in 2017, its lowest ranking in the index in four years. The country scored 6.88 out of a perfect score of 10, which is lower than the 6.98 score it posted in 2016.

The HFI, copublished by the Cato Institute, the Fraser Institute in Canada, and the Liberales Institut at the Friedrich Naumann Foundation for Freedom in Germany, ranks 162 countries based on 76 distinct indicators of personal, civil, and economic freedom, using data from 2008 to 2017.

“The HFI captures the degree to which people are free to enjoy important rights, such as freedom of speech, religion, association and assembly, and also measures freedom of movement, women’s freedoms, crime and violence, and legal discrimination against same-sex relationships,” the Cato Institute said in a statement.

On a scale of zero to 10, where 10 represents more freedom, the Philippines scored 7.32 in terms of economic freedom, higher than its 7.3 score in 2016, and 6.44 in personal freedom, lower than the 6.66 score in 2016.

Under personal freedom, the Philippines scored the lowest in “rule of law” with 3.4 out of 10. This was greatly affected by the 2.2 score out of 10 in procedural justice followed by criminal justice, 3.1 and civil justice, 4.7.

The country also posted a 6.7 out of 10 in security and safety, as well as identity and relationships.

The Philippine performance in both indicators worsened in 2017 compared to 2016.

In terms of safety and security, the country’s score dived to 5.9 in 2017 from 7.6 in 2016 in terms of disappearance, conflict and terrorism.

In identity and relationships, the country scored zero in divorce. It may be noted that divorce is not yet

allowed in the Philippines.

“With the rise of populism, nationalism, and hybrid forms of authoritarianism, people’s rights and freedoms are under assault in many corners of the globe. Because of their inherent value and their contribution to well-being, those freedoms deserve the strongest defense,” Cato Institute adjunct scholar and Fraser Institute senior fellow Tanja Porčnik said.

Freest, least free

HOWEVER, in the region, the freest country is Singapore, which is ranked 30th globally followed by Cambodia (63), the Philippines (76), Indonesia (81) and Timor-Leste (86).

The least free country in the region is Myanmar (148), preceded by Pakistan (140) and Brunei Darussalam (tied for 140), and Bangladesh (138).

Globally, the top economies are New Zealand, Switzerland, Hong Kong, Canada and Australia, while the bottom economy is Syria followed by Venezuela, Yemen, Sudan and Iraq.

A total of 61 countries increased their overall freedom ratings from 2008 to 2017, while 79 countries posted declines in their freedom ratings.

Around 16 percent of the world’s population lives in the top quartile of nations in the index, while 35 percent lives in the bottom quartile of countries that have the lowest levels of freedom.

The authors also found that of the 12 major categories that make up the index, all but five have seen some deterioration. Religion, identity and relationships, and rule of law saw the largest decreases since 2008, while Sound Money saw the largest improvement.

Countries that have high personal freedom tend to exhibit high economic freedom. The freest countries in the world by quartile enjoy much greater income per person ($40,171) compared to those in the least-free quartile ($15,721).

In addition, the authors found a strong correlation between human freedom and democracy, with Hong Kong as an outlier in this regard.

Editor: Vittorio V. Vitug • Thursday, December 19, 2019 A9

DA implements nationwide zoning plan to wipe out ASF

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) has formally implemented its zoning plan for African swine fever (ASF) to more efficiently and effectively control and contain the spread of the fatal hog disease.

The DA issued Administrative Circular 12 dated December 10, that formally ordered the establishment of zones across the country depending on the level of risks of regions in relation to ASF. The zoning plan is being eyed by the DA as one of the key measures to more effectively eradicate the ASF in the country that has struck mostly backyard farms in Luzon.

The DA noted that its progressive zoning approach “was instrumental in the successful eradication of foot-and-mouth disease in the Philippines through intensified surveillance and animal movement management.”

“The concept of zoning and compartmentalization of the different administration regions in the country based on their common disease status, to protect unaffected area while controlling disease in infected regions, and progressive elevation

of infected status to protected, and eventually to free zones, while building-up measure to prevent reinfection,” Agriculture Secretary William D. Dar said in the order that was made public on Tuesday.

“The national zoning and movement plan for African swine fever will guide movement protocols intended to control the spread of the virus,” Dar added.

In the order, Dar pointed out that zoning is one of the internationally recognized strategies recommended by the World Organisation for Animal Health (OIE) to prevent the spread of any animal disease, such as ASF. Furthermore, he added that the zoning plan was agreed in principle by the interagency National ASF Task Force in its first meeting and was also approved by the Cabinet on its 43rd meeting.

“The zones are defined and clas-

sified based on geographical limits established by the veterinary authorities upon identification of the infected zone and the quarantine zone,” the order read.

“Zone classification status will be reviewed regularly depending on the epidemiological changes of the disease,” the order added.

The implementation of a nationwide zoning plan is seen by the government as a way to not to disrupt trade among provinces, particularly among ASF-free areas.

This is to address the series of bans being imposed by provincial governments on the trade and entry of hogs, and pork-related products within their jurisdictions.

Under the zoning plan, provinces and regions would be classified based on their ASF status, which entail corresponding guidelines on the extent that they can transport and sale hogs, pork and pork products.

The country’s provinces, or regions, would be classified under two general zones: containment zone and free zones.

The containment zone is further categorized into four zones depending on the area’s ASF status: red (infected zone), yellow (surveillance zone), pink (buffer zone), and light green (protected zone).

Infected zones are areas with confirmed cases of ASF, which include areas of Mapandan and Bayambang in Pangasinan; Nueva Ecija (Cabanat-

uan City, Palayan City, Quezon, San Isidro, Santa Rosa, Zaragoza, Cabiao and Gapan City); Cavite (Dasmariñas City, Imus City, General Trias and Bacoor); and Rizal (Rodriguez, Antipolo City, San Mateo and Taytay).

The yellow zone are provinces that are high-risk areas because of dense population of swine and volume of trade of pig and pork products, according to the order.

The identified yellow zones in the country are the provinces in Regions 3 and 4A, except Bulacan, Pampanga, Nueva Ecija, Rizal and Cavite.

The order identified Regions 1 (except Pangasinan), 2 and 5 (except Masbate and Catanduanes) as protected zone since that they have no cases of ASF and are considered lowrisk provinces but are contiguous with yellow zones in terms of land mass.

The entire Visayas and Mindanao have been declared free zones as they remain free from ASF virus in relation to their geographical limit.

“Due to their geographical isolation as island provinces, which keeps them ASF-free, the provinces of Region 4B [Mimaropa], Masbate and Catanduanes [both of Region 5] are, likewise, declared as free zones,” the order read.

Local hog industry stakeholders have been awaiting for the zoning plan to be formally implemented in the hopes that local government units would follow it to normalize the flow of pork trade in the country.

Nonbinding PHL-France LOI on defense cooperation may pave way for sub purchase

By Rene Acosta @reneacostaBM

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HE initial steps between Manila and Paris to forge a maritime defense cooperation could bolster the initiative of the Duterte administration to secure submarines for the Philippine Navy, with France as the possible supplier.

While Defense Secretary Delfin N. Lorenzana said that the Letter of Intent (LOI) on Enhancing Defense

Cooperation in the Maritime Domain that he signed with his French counterpart Florence Parly was still nonbinding, he understood that France is among the list of countries being evaluated as the source of submarines for the Philippines.

The intent agreement was signed during Lorenzana’s visit to France early this month from South Korea, where he and President Duterte attended the Asean-Republic of Korea Commemorative Summit held in late November.

“It was still an intent, nonbinding, but good enough to start planning.

What would be binding is the contract,” the defense chief said of the agreement he inked with Parly, France’s defense minister.

“They were selling to us submarines, the Scorpene. According to the Navy, it’s one of the best submarines,” Lorenzana added on Tuesday night.

France’s Scorpene class submarines are of diesel-electric type also in service of other navies.

France was just among the countries, which included Russia, Germany and South Korea, that has been eyed by the Department of National Defense as a possible source of submarines for the military amid its militarization thrust under the Armed Forces of the Philippines Modernization Program.

The procurement of submersible assets for the Navy should complement its acquisition of brand-new frigates, two of which are to be delivered by South Korea within the next two years.

Tobacco control policy experts World Bank OKs $400-M DPL D.E.N.R. BATS FOR LAW AUTHORIZING FOREST RANGERS’ USE OF FIREARMS share e-cigs insights with solons loan to support PHL’s bid for policy and institutional changes G

LOBAL experts on tobacco control policy shared their insights on e-cigarettes and tobacco harm reduction with members of the Joint Trade and Health Committee of the House of Representatives during a committee hearing on December 10, 2019.

The hearing tackles several bills that seek to regulate the manufacture, importation, packaging, use, sale, distribution, and advertisement of e-cigarettes and heated tobacco products.

Clive Bates, a former director of the UK’s main anti-smoking organization Action on Smoking and Health and a long-standing advocate of rational tobacco control policies, sent his 31-page comments on ecigarettes and tobacco harm reduction to joint committee chairs Rep. Weslie Gatchalian and Rep. Helen Tan via e-mail.

In his testimony before the joint committee, Dr. Konstantinos E. Farsalinos presented comprehensive evidence on e-cigarettes and recommended regulatory actions. He emphasized that a risk-proportionate and realistic regulatory framework will help maximize the use of electronic cigarettes (e-cigarettes or vapes) as an effective harm reduction and smoking cessation strategy for the promotion of public health. Farsalinos is an Adjunct Professor at King Abdulaziz University and a Researcher at Onassis Cardiac Surgery Center, University of Patras, and National School of Public Health in Greece.

Addictions psychotherapist Andrew da Roza also appeared before the joint committee to share his expert insights. He said that new technologies give public health policy a unique opportunity to eliminate cigarettes in a single generation. He added that “we can have a smoke-free world if we use heat-not-burn products and if we use ecigarette products.” Da Roza holds a master’s degree in counseling from Monash University in Australia and a master of Science degree in addictions from King’s College, London University.

In his comments, Bates, who has no conflicts of interest with the tobacco, e-cigarette, or pharmaceutical industries, stressed that “beyond any reasonable doubt, e-cigarettes are much less harmful than conventional cigarettes. Almost all the harm done by cigarettes arises from the smoke, and e-cigarettes do not produce smoke.”

He cited the US National Academies of Science Engineering and Mathematics, which concluded that e-cigarettes are “likely to be far less harmful” than conventional cigarettes. He also cited the evidence review of the Royal College of Physicians and Public Health England, which both concluded that vaping is at least 95 percent less harmful than smoking.

By Jonathan L. Mayuga @jonlmayuga

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HE World Bank has approved a new development policy loan (DPL) for the Philippines to help the government implement reforms to promote competitiveness, fiscal sustainability and resilience to natural disasters.

In a news statement, the Washingtonbased lender said the $400-million DPL will have a maturity of 19 years and a grace period of 10 years.

A DPL is a quick-disbursing assistance to countries undertaking reforms. These usually support policy and institutional changes.

“DPLs typically support policy and institutional changes needed to create an environment conducive to sustained and equitable growth as defined by borrower countries’ own development agenda,” the World Bank said.

The projects to be financed by the DPL will be implemented by the Department of Finance. The World Bank has assigned the DOF International Finance Group as its main counterpart for the new loan.

However, the DPL will also be shared with other agencies such as the Department of Budget and Management; the Bureau of Treasury; National Economic and Development Authority; Philippine Statistics Authority; Bangko Sentral ng Pilipinas; Anti-Red Tape Authority; Department of Trade and Industry; and Department of Agriculture.

The World Bank said reforms supported by this DPL include streamlining processes to reduce the cost of doing business and the establishment of the foundational ID system to improve efficiency and transparency of public and private services.

Other reforms include enhancing access to financial services through improved payment systems and strengthening management of public assets and fiscal risks to natural disasters and climate-change impacts.

“The DPL program is fully aligned with objectives of the CPF [Country Partnership Framework] by supporting reforms towards improving business climate, promoting competitiveness, facilitating digitalization of the economy and government service provision, and strengthening financial inclusion, which are long-standing reforms to improve the Philippines’s competitiveness and boost the quality of job creation,” World Bank said.

As of end of September 2019, the bank’s active portfolio in the Philippines consisted of 11 operations financed by the International Bank for Reconstruction and Development (IBRD) loans, Global Environment Facility grants, and large recipient-executed grants with total net commitment of $3.53 billion.

The IBRD portfolio’s sectoral coverage is as follows: social protection and jobs (21 percent); agriculture (19 percent); social development (14 percent); water (14 percent); urban, resilience, and land (14 percent); macroeconomics, trade and investment (13 percent); transport (4 percent); and energy (1 percent).

The Philippines trust fund portfolio consists of 73 active grants with total commitment of $198.9 million.

In addition, the World Bank is also preparing 30 knowledge products valued at $11.8 million and a Reimbursable Advisory Services for $3.9 million. Cai U. Ordinario

T

HE Department of Environment and Natural Resources (DENR) is asking lawmakers to pass a law authorizing forest protection officers, or forest rangers, to bear firearms to protect themselves against “armed and dangerous” environmental criminals.

This, even as the DENR mourns the killing of four DENR forest rangers and informants whom Cimatu said, “bravely put their lives on the line to protect our forests.”

He said despite the killings, the DENR remains steadfast in its campaign against illegal logging and other environmental crimes in the forests.

“It is during these times that we want you to join us in our call to protect our hardworking DENR workers. Help us inform every Filipino that the DENR will not be cowed,” he said in his message read

by DENR Undersecretary Benny D. Antiporda during a year-end performance assessment at the conference hall on Monday.

In Palawan, the DENR in Mimaropa region had completed the necessary training in preparation for the arming of forest protection officers and forest rangers patrolling the region’s thick forests.

Arming forest protection officers and forest rangers, hopefully, will deter illegal logging activities

in various parts of the country. Illegal logging syndicates are usually armed with long firearms and would often target forest protection officers, or forest rangers who stand in their way.

According to Cimatu, the DENR will continue to pursue the creation of an enforcement bureau that will protect the DENR’s forest protection officers and forest rangers who should be hailed as “environmental heroes” for their sacrifices to protect the environment.

In his year-end assessment of the agency’s performance, Environment Secretary Roy A. Cimatu said the year 2019 was a good year for the DENR as he highlighted the effort to rehabilitate Manila Bay, which started on January 26 this year with the launching of “Battle for Manila Bay.” The historic event, which kicked off with a unity walk in support of the rehabilitation of the historic bay in Manila, triggered the start of a nonstop cleaning effort by the DENR and various government agencies around the Manila Bay Area.

“Our efforts include not only the removal of solid wastes from rivers and esteros through our hardworking volunteers, estero rangers and partner government and private agencies, but also the resettlement of illegal settler families along the rivers and creeks and the closure of erring establishments around the Manila Bay Area,” he said.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on September 14, 2019, 2019, the company of Mesdames. Ye, Chunhua, Tan, Meimei, Wu, Yalan under SKY DRAGON GLOBAL TECHNOLOGIES CORP. should have been read as DAKING MANAGEMENT SUPPORT, INC. and not as published. The ad material published on August 28, 2019, the position of Mr. Fan, Yuanchao under MALOG SOLUTIONS, INC. should have been read as Chinese Customer Service Representative and not as published. Lastly, the ad material published on December 12, 2019, the nationality of Mr. Win Myint Aung under FIRST GREAT COMPUTER TECHNOLOGIES INC. should have been read as Chinese and not as published.

If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

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Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE NCR Regional Office located at 967 Maligaya St., Malate, Manila, within 30 days after its publication.

Please inform DOLE NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Companies BusinessMirror

Thursday, December 19, 2019

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PCC fines Grab anew for breaking price pledge

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By Butch Fernandez @butchfBM & Elijah Felice E. Rosales @alyasjah

he Philippine Competition Commission (PCC) has slapped a penalty of P16.15 million on Grab Philippines for violating its price and service quality commitments during the fourth quarter of its initial undertaking.

The commission order dated last Friday comes on the heels of the audit report submitted by Smith & Williamson, an independent monitoring trustee assigned to evaluate Grab’s compliance with its voluntary commitments on price, service quality and nonexclusivity for one year, or until August 10, 2019.

The fine is the latest in a string of penalties imposed on Grab for violating its commitments. Each violation incurs an administrative penalty ranging from P50,000 to P2 million as provided for under the Philippine Competition Act. With the merger of the country’s

two biggest ride-hailing apps, Grab’s violations are indicative of its exercise of market power in the absence of a competitor of adequate scale in the market, the PCC said.

For the fourth leg of the initial undertaking, the PCC sanctioned a fine P14.15 million for Grab’s “extraordinary deviation” from its pricing commitment, and P2 million for exceeding driver cancellations at 7.76 percent instead of the committed 5 percent.

For violating its pricing commitments to PCC, Grab was earlier fined P11.3 million in the first quarter; P7.1 million in the second quarter; and P5.05 million in the third quarter.

Fines for the third and fourth quarters will be refunded to qualified Grab passengers. Customers who availed themselves of Grab’s service between May 11 to August 10 this year, or the fourth quarter of the initial undertaking, shall expect the rebate within 60 days through their GrabPay accounts.

The PCC stressed that the disgorged amount shall be paid by Grab and shall not be passed on to its drivers or riders.

“The ride-hailing market has seen profound changes in the past year as a result of Grab’s acquisition of Uber.

With the commitments in place, PCC aims to maintain pre-transaction market conditions and will discipline any tendency to exercise monopolistic power with corresponding penalties,” PCC Chairman Arsenio M. Balisacan said in a statement.

The PCC also reminded Grab its pricing commitment to the antitrust body is separate and independent from the fare structure of the Land Transportation Franchising and Regulatory Board (LTFRB).

While the LTFRB has imposed a fare matrix for all transport network vehicle services, the PCC binds Grab to its voluntary commitments, including keeping its fares within a range as

if a competitor like Uber were present in the market.

As such, the PCC fines Grab for fares that deviated from its pricing commitments to the commission, even if the same is not considered overcharging based on the fare matrix applied by the LTFRB. As the initial undertaking lapsed, the PCC found that there remains insufficient competition in the ridehailing market.

On October 31, Grab signed a new set of voluntary commitments as a continuing condition for the antitrust authority’s clearance of Grab’s acquisition of Uber in the Philippines last year.

The competition body also looks to other players that can sufficiently complete with the current dominant firm in the ride-hailing market.

“More than a year after the GrabUber merger, the PCC instituted these measures to address the persistent impact of a virtual monopoly in this sector,” said Balisacan.

“The game changer, however, will come in the form of a new player with strong financial muscle to enter the ride-hailing market and an environment that allows existing players to grow. Until then, the commitments

stand for the benefit of the riding public,” he added.

Review of rates Sen. Imee Marcos is asking State regulators to review Grab’s reported plan to impose higher fare.

“The increase in Grab fares by more than double the rates that riders are accustomed to suggests that the digital ride-hailing company is playing games with the riding public’s patience,” Marcos said on Wednesday.

In a statement, Marcos maintained that “based on Grab’s pricing commitments to the government, the company is supposed to cap its fare increases” this December at 22.5 percent of its average rates before it bought out its rival, Uber, in March 2018. She recalled that Grab had agreed with the PCC just last month to extend its pricing commitments for one more year.

The senator cited a screenshot of Grab’s quoted fares, showing a 1-kilometer ride that used to cost less than P100 can now cost P245 via GrabCar or from P231 to P346 via GrabTaxi.

“How will Grab explain that?” Marcos asked, adding that “monopolies tend to push limits and cross the line of abuse, so we in the government must remain vigilant of sectors imbued with public

interest like water and transport.”

At the same time, she prodded the LTFRB to allow motorcycle-for-hire services to fill the gap in public mobility, as traffic worsens while mass transport systems are being improved.

She earlier filed Senate Bill 409 seeking to recognize motorcycle-forhire services like Angkas as legitimate means of public transport, employment opportunities for an unskilled work force, and revenue-earners for the local government units that will supervise them.

Marcos aired hopes that the LTFRB would heed the plea, saying: “Sana umangkas na ang LTFRB sa diwa ng Pasko at regaluhan na ng siguradong trabaho ang mga Angkas drivers. [I hope the LTFRB will ride on the spirit of Christmas and give Angkas drivers a permanent job.]”

The senator noted that of the estimated 15,000 drivers of Angkas, some 4,000 or more than 25 percent of them did not graduate from college or were previously out of a job, Marcos explained.

She pointed out that the country’s most congested urban areas, including Metro Manila, Cebu, Davao “are crying out for the convenience of more ridehailing services.”

Ramon Ang, first Filipino in elite Bloomberg 50 global innovators

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amon S. Ang, president and chief operating officer of conglomerate San Miguel Corp. (SMC), has made it into the Bloomberg 50, an elite annual list of top global innovators, entrepreneurs and leaders who have changed the global business landscape, as compiled by Bloomberg Businessweek. He is the first Filipino to make it to the list.

An unranked list, the Bloomberg 50 represents the most influential thought-leaders in business, entertainment, politics, finance, fashion, and science and technology, whose accomplishments were particularly noteworthy and defined 2019.

“It’s a great honor, and I’m grateful to Bloomberg for taking note of our work and the developments here in the Philippines,” Ang said. “I hope this helps to showcase the many great and positive things happening in our country.”

Ang is joined in the list by Warner Media News and Sports Chairman and CNN President Jeff Zucker; TV host Jon Stewart; pop star Rihanna; Shopify CEO Tobias Lutke; GlaxoSmithKline CEO Emma Walmsley; Marvel Studios President Kevin Feige; American gymnast Simone Biles; Walmart CEO Doug McMillon; Disney International Chairman Kevin Mayer; celebrity and Kylie Cosmetics CEO Kylie Jenner; and climate activist Greta Thunberg, among others.

In the last decade, Ang engineered the massive diversification and transformation of the over 100 years old San Miguel from a beer, food, spirits and packaging company with market leading positions, to a diversified conglomerate with interests in industries crucial to Philippine economic growth: Food and Beverage, Oil and Fuels, Power, Infrastructure, Banking.

SMC is one of the Philippines’s largest companies by revenues and profits. In 2018, its revenues breached P1 trillion, equivalent to about 5.9 percent of the Philippines’s GDP.

Reinvesting in the Philippines Much of San Miguel ’s earnings are ploughed back and reinvested in the Philippines in the form of growth-generating manufacturing facilities and infrastructure projects aimed at improving people’s lives, decongesting cities, and sustaining economic growth.

Currently, SMC’s Food and Beverage business is in the midst of the largest capacity expansion program in its 129-year history.

It is building additional breweries, new feed mills, flour mills, food-processing plants, poultry facilities, and a ready-to-eat plant, in various locations nationwide.

These new facilities bring direct and indirect jobs, livelihood opportunities, and boost local economies. SMC, under Ang, is also managing, operating and constructing some of

first learning and feeding center and food bank in the poorest district of Tondo, Manila, where Ang grew up. Under Ang, SMC has also pushed for greater sustainability, initiating a landmark water sustainability project which calls for an ambitious 50-percent reduction in the utility and domestic use of water across all its businesses by year 2025.

In 2017, as part of efforts to reduce the com-

Ramon S. Ang

the country’s biggest infrastructure projects.

Its operating expressways include the South Luzon Expressway (Slex), Skyway 1 and 2, Southern Tagalog Arterial Road (Star), the Naia Expressway (Naiax), and the Tarlac-Pangasinan-La Union Expressway (TPLEx).

It is building Skyway Stage 3, which will connect Slex and Skyway 1 and 2 to the Northern Luzon Expressway from Buendia, Makati; Skyway Stage 4, from Skyway FTI, Parañaque City, to the Batasan Complex in Quezon City and to San Jose del Monte, Bulacan; and the Skyway Extension from Alabang to Slex Susana Heights.

SMC is also set to build the Slex TR4 project, which will extend Slex from Santo Tomas, Batangas, to Lucena City in Quezon province.

San Miguel is also building the MRT 7 project, which will stretch from North Edsa through Quezon City, to San Jose del Monte, Bulacan. The project includes an intermodal transport terminal and a road component that will connect to the North Luzon Expressway.

Most ambitious project SMC’s biggest and most ambitious upcoming project to date is the New Manila International Airport project in Bulacan province, just north of Metro Manila, and accessible via an expansive infrastructure network.

At $15 billion, it is the company’s singlelargest investment to date, and the largest in the country. The new airport will be the Philippines’s largest and most modern.

To be built on a 2,500-hectare facility, it will have four runways, upgradable to six, and world-class facilities seen to boost the country’s competitiveness as an investment and tourism destination.

Philanthropy, sustainability Ang is also a known philanthropist. Through the San Miguel Foundation, he has channeled billions of pesos toward building housing communities for thousands of families affected by natural calamities and armed conflict.

The foundation has also built community hospitals, schools and libraries, among others. Its thrust today is to address hunger and education. It recently completed its

pany’s solid waste footprint, he announced the discontinuation of San Miguel’s plastic bottled water business.

In 2019, he announced several major sustainability initiatives: a P1 billion donation to clean up the Tullahan River; building the country’s first recycled plastics road; and adopting the Philippines’s first fully certified biodegradable plastics for various packaging requirements.

From an early age, Ang has had an entrepreneurial spirit. He started in business importing and reconditioning heavy equipment for the local construction industry. He is a mechanical engineering graduate, and an avid car aficionado and collector.

The Bloomberg 50 2019 list is published in a special issue of Bloomberg Businessweek released December 6.

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Companies BusinessMirror

Thursday, December 19, 2019

PSE STOCK QUOTATIONS

December 18, 2019

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING FIRST ABACUS FERRONOUX HLDG IREMIT MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

54 158 83.1 24.9 12.72 64.05 12.7 20.5 34.8 57.05 22.15 192 57 0.85 1.85 0.53 3.86 1.16 841 0.77 174 1806

54.1 158.4 83.3 24.95 12.96 64.85 13 20.8 35 58.4 22.5 193 57.85 0.92 1.99 0.6 4.06 1.26 847.5 0.78 175 1849

54 160 84 24.8 12.8 64.55 12.7 20.5 34.65 58 22.1 197 57.8 0.84 1.82 0.6 3.84 1.16 835 0.78 173 1845

54 160 84 24.95 12.96 64.85 12.7 20.5 34.9 58.4 23 197 57.85 0.9 1.82 0.6 4.06 1.16 849 0.78 175 1850

54 157 81.3 24.8 12.7 62.5 12.7 20.5 34.6 57 22.05 189.2 57 0.84 1.81 0.6 3.84 1.15 835 0.77 172.7 1800

54 158 83.1 24.95 12.96 64.85 12.7 20.5 34.8 58.4 22.5 193 57 0.9 1.81 0.6 4.06 1.15 849 0.77 175 1806

990 2913690 4372460 48000 336500 3023860 11100 6000 282200 22330 74600 657740 23280 202000 25000 1000 9000 39000 460 104000 5550 440

53460 460876272 361622338.5 1194540 4296668 192334371 140970 123000 9810420 1273350 1660210 126388222 1344413.5 181680 45290 600 34930 45120 386660 80440 965004 808080

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

-2160 -44905612 -145409723 1383556 -89712006.5 -677710 -436500 -31386817 -1026554.5 -600 159770 1750 184500

2.19 1.23 33 0.236 23.65 66.85 315.2 6.85 3.88 3.8 11.16 33.3 7.54 15.3 13.2 2.55 17.22 15.36 4.99 9.44 7.18 86.05 0.53 1.05 40.05 224.6 6.12 12 0.153 1.91 10.02 2.14 5.22 1.77 0.116 145 1.11 64.6 67 1.94 14.14 9.52 13.6 16.78 9.82 0.99 0.87 162.5 2.09 4.99 26.3 1.93 7.68 1.28 4.73 0.83 3.94

2.2 1.25 33.55 0.239 23.7 67 320 6.88 3.94 3.96 11.42 33.4 7.7 15.5 13.38 2.56 17.92 15.38 5.2 9.45 7.2 86.7 0.54 1.06 40.8 225 6.38 12.1 0.18 1.92 10.18 2.15 5.3 1.8 0.123 145.2 1.12 73.5 72.8 1.97 14.3 9.6 13.88 16.8 9.9 1 0.88 170 2.13 5.09 28.05 1.94 7.69 1.33 5.49 0.87 3.96

2.14 1.24 33.5 0.236 24.5 66.1 308 6.6 4.15 3.8 11.46 33.6 7.5 15.5 13.3 2.66 17.54 15.38 5.2 9.31 7.21 87 0.53 1.09 40.5 225 6.6 11.8 0.155 1.91 10.24 2.17 4.93 1.8 0.115 144.9 1.12 65 67 2 14.44 10 13.64 17.28 9.76 1.07 0.89 168 2.08 5 28.1 1.99 7.7 1.35 5.6 0.86 4.17

2.23 1.24 33.65 0.24 24.5 70.9 320 7.08 4.19 3.96 11.48 33.6 7.7 15.5 13.4 2.66 18 15.4 5.2 9.44 7.21 87 0.54 1.09 40.8 225 6.66 12.38 0.155 1.92 10.48 2.22 5.22 1.8 0.115 146 1.14 65 73.7 2.03 14.44 10.08 13.9 17.28 9.93 1.07 0.9 168 2.13 5 28.1 1.99 7.73 1.35 5.6 0.86 4.17

2.14 1.24 33 0.236 23.6 66 306 6.3 3.88 3.8 11.46 33.2 7.5 15.5 12.88 2.56 17.22 15.36 4.83 9.2 7.18 85.15 0.53 1.05 40.05 223.2 6.56 11.7 0.153 1.91 10.02 2.13 4.9 1.8 0.115 144.3 1.11 64.7 67 1.92 14.1 9.46 13.5 16.7 9.76 0.99 0.87 162.5 2.08 5 28.05 1.93 7.63 1.34 5.49 0.86 3.89

2.2 1.24 33 0.239 23.65 67 320 6.85 3.88 3.96 11.48 33.4 7.54 15.5 13.38 2.56 17.22 15.36 5.2 9.44 7.18 86.7 0.54 1.06 40.05 225 6.56 12 0.153 1.91 10.18 2.15 5.22 1.8 0.115 145 1.11 64.7 73.55 1.97 14.3 9.6 13.88 16.8 9.9 1 0.88 162.5 2.13 5 28.05 1.94 7.68 1.34 5.49 0.86 3.94

1245000 10000 2854300 1010000 1084100 33700 117830 111660800 3533000 9000 9100 131700 52400 5000 325400 2064000 42400 157500 15600 2832600 75200 69460 185000 10400000 53400 935250 2900 1866400 930000 6876000 201100 3948000 15400 3000 220000 1225940 1006000 280 2160 2801000 389800 796400 139500 564100 4600 171000 1186000 320 2124000 4739000 143800 5879000 1414900 21000 500 30000 328000

2733880 12400 94363045 239870 25714180 2,253,799( 37294936 760075939 14036540 34520 104390 4383135 394418 77500 4346022 5350670 743954 2421850 76412 26485159 541082 6004374 98230 11057100 2139480 209917144 19206 22470748 142550 13137020 2063444 8562560 77105 5400 25300 177853243 1127450 18138 157954 5471870 5576984 7679265 1894010 9480282 45132 170730 1054260 53650 4443700 23695000 4040635 11475150 10866791 28290 2759 25800 1284310

220250 -51752620 -28440 604915 1,605,524.5003) 3636684 -213308289 1119330 -743895 107250 -77500 4087758 -1355810 1903786 9415753 385229 -2207221 168060 1978420.0003 600420 -1957702 -4468210 -1663634 -1044 -33889981 77700 147100 385280 -4083132 -5596010 -522602 -7138590 4965 -9840000 30920 -158770 8612830 -20250 -

0.79 10.6 757.5 50.6 11.36 3.02 6.32 0.68 0.92 0.92 6.65 5.93 13.18 824 5.39 78.2 5.23 5.18 0.485 3.74 11.5 3.45 4.11 1.18 2.73 1.22 168 1054 153.3 0.76 209.6 0.203 0.191

0.8 11.28 758 51 11.4 3.05 6.57 0.69 0.93 0.93 6.7 5.94 13.28 826 5.43 78.3 5.6 5.89 0.5 3.76 11.56 3.49 4.4 1.25 2.98 1.25 172 1055 160 0.8 210 0.217 0.198

0.75 11.48 762 51.5 11.32 3.06 6.36 0.71 0.9 0.93 6.64 5.6 13.2 830 5.44 79.7 5.41 5.21 0.485 3.75 11.88 3.29 4.12 1.19 2.98 1.22 175 1050 155 0.74 204 0.211 0.192

0.81 11.48 762 51.5 11.6 3.06 6.75 0.72 0.93 0.93 6.8 5.93 13.3 840 5.44 80 5.7 5.21 0.5 3.78 11.88 3.49 4.47 1.28 2.98 1.22 183 1069 160 0.8 213.8 0.211 0.199

0.73 10.6 752.5 49.8 11.24 2.96 6.31 0.68 0.9 0.93 6.55 5.41 13.2 824 5.4 78.2 5.41 5.18 0.485 3.74 11.46 3.15 4.11 1.18 2.9 1.22 151 1043 151.8 0.74 201.2 0.2 0.19

0.8 10.6 758 51 11.36 3.05 6.75 0.7 0.93 0.93 6.7 5.93 13.3 824 5.4 78.2 5.7 5.18 0.5 3.74 11.5 3.49 4.11 1.25 2.9 1.22 168 1055 160 0.8 210 0.2 0.199

25943000 8100 461850 593180 24237700 901000 7500 160000 509000 5000 1791600 21017800 214200 108630 2306400 1319460 120100 5300 5000 135000 2851600 71994000 26000 404000 161000 48000 2920 285955 186840 34000 690 4100000 610000

20495490 88802 350030825 30076862 277825592 2729030 48023 111480 463080 4650 12005205 119913217 2842810 90128835 12546215 103893304 663130 27607 2475 507640 32801358 240248880 108860 477920 467380 58560 486330 301750595 29261778 26960 141978 826560 116330

2940 -46587585 -6762451 -29175124 -309300 -3375372 -21628358 -50825685 -963868 -31054942 -335140 19396670 12713610 10520 3660 65365515 -7456727 -8000 -50022 79800

PROPERTY ARTHALAND CORP 0.8 0.81 0.82 0.82 0.78 0.8 1232000 968970 AYALA LAND 45.75 45.85 46.5 46.5 45.6 45.75 10987000 502633300 -39589835 ARANETA PROP 1.32 1.36 1.42 1.42 1.36 1.36 14000 19220 1.97 1.99 1.98 1.99 1.97 1.99 391000 772690 -205400 BELLE CORP 0.69 0.7 0.71 0.73 0.69 0.69 1106000 769270 A BROWN CITYLAND DEVT 0.83 0.87 0.86 0.87 0.86 0.87 84000 72260 70520 CEBU HLDG 6.35 6.7 6.45 6.73 6.45 6.7 62200 407547 380174 4.67 4.75 4.66 4.75 4.66 4.75 895000 4197360 345290 CEB LANDMASTERS 0.55 0.56 0.55 0.56 0.54 0.56 18634000 10310130 CENTURY PROP CYBER BAY 0.385 0.39 0.41 0.41 0.39 0.39 140000 54800 -23400 DOUBLEDRAGON 19.04 19.16 19.36 19.38 19.04 19.16 123900 2387096 358290 9.7 9.9 9.98 10 9.55 9.9 311600 3069196 DM WENCESLAO 0.415 0.43 0.425 0.425 0.425 0.425 30000 12750 EMPIRE EAST FILINVEST LAND 1.5 1.51 1.5 1.51 1.46 1.51 9852000 14619400 1397760 GLOBAL ESTATE 1.15 1.19 1.15 1.21 1.15 1.21 276000 320080 14.74 14.78 14.76 14.8 14.7 14.78 682200 10067604 -113610 8990 HLDG 1.26 1.29 1.25 1.29 1.24 1.29 506000 637430 PHIL INFRADEV CITY AND LAND 0.71 0.75 0.75 0.75 0.75 0.75 36000 27000 22500 MEGAWORLD 4.07 4.08 4.04 4.09 4.01 4.07 30810000 125303160 -4290230 0.194 0.197 0.196 0.198 0.192 0.197 8520000 1652180 1930 MRC ALLIED 0.4 0.44 0.44 0.44 0.4 0.44 430000 173300 -160100 PHIL ESTATES PRIMEX CORP 2.01 2.02 2.04 2.04 2.01 2.01 579000 1164160 26.8 27 26.95 27 26.1 27 1826900 49099940 -5040250 ROBINSONS LAND 0.31 0.325 0.32 0.325 0.31 0.325 80000 25050 PHIL REALTY 2.1 2.12 2.15 2.15 2.1 2.12 100000 211320 -105700 ROCKWELL SHANG PROP 3.1 3.19 3.19 3.2 3.1 3.1 93000 294460 -154100 STA LUCIA LAND 2.47 2.49 2.34 2.5 2.34 2.49 693000 1694940 40.65 40.7 40.6 40.7 40.1 40.65 8795700 356204285 -37799240 SM PRIME HLDG 5.33 5.49 5.35 5.5 5.3 5.49 48800 261799 VISTAMALLS SUNTRUST HOME 1.09 1.1 1.09 1.12 1.07 1.09 2638000 2881770 7.28 7.3 7.4 7.4 7.15 7.3 1433400 10501592 -6120896 VISTA LAND

SERVICES ABS CBN 15.4 15.5 15.4 15.8 14.8 15.5 133100 2019040 GMA NETWORK 5.23 5.24 5.25 5.25 5.21 5.24 66600 349210 0.385 0.395 0.385 0.385 0.385 0.385 70000 26950 MANILA BULLETIN 2026 2042 1980 2042 1945 2042 80120 161300970 64415355 GLOBE TELECOM 999 1000 997.5 1000 990 1000 143740 143490200 -34396185 PLDT APOLLO GLOBAL 0.042 0.043 0.042 0.042 0.042 0.042 4100000 172200 4.84 5.5 5.2 5.5 5.2 5.5 125000 683900 DFNN INC 0.096 0.097 0.097 0.097 0.097 0.097 510000 49470 ISLAND INFO 3.04 3.05 3.04 3.05 2.9 3.05 2289000 6847390 64690 ISM COMM NOW CORP 2.39 2.48 2.49 2.55 2.38 2.4 1547000 3755400 111370 TRANSPACIFIC BR 0.265 0.275 0.275 0.28 0.265 0.265 2460000 669400 71550 2.5 2.53 2.55 2.57 2.5 2.5 964000 2422210 -32900 PHILWEB 9.6 9.78 9.5 9.78 9.5 9.78 3100 29808 2GO GROUP ASIAN TERMINALS 18 18.5 18 18 18 18 60200 1083600 1074600 CHELSEA 4.95 4.99 4.8 5 4.75 4.99 305000 1499630 -14940 92.3 92.65 93 93 92 92.65 124930 11579463 8045323 CEBU AIR 131.7 133 134.9 134.9 130.1 133 2513860 331502758 -62843724 INTL CONTAINER LBC EXPRESS 13.5 13.98 13.5 13.5 13.5 13.5 39900 538650 16.86 16.9 17.1 17.3 16.8 16.9 2632100 44957312 -25152564 MACROASIA 7.4 7.5 7.5 7.5 7.4 7.4 8600 63750 PAL HLDG 1.08 1.09 1.09 1.14 1.08 1.09 735000 805020 HARBOR STAR ACESITE HOTEL 1.38 1.43 1.45 1.45 1.38 1.38 361000 507320 9.51 10.56 10.54 10.54 10.54 10.54 14900 157046 GRAND PLAZA 0.59 0.61 0.6 0.6 0.59 0.59 1462000 871770 WATERFRONT 7.78 9.4 8.99 9.5 8.99 9.5 10000 90099 IPEOPLE STI HLDG 0.61 0.62 0.64 0.64 0.61 0.62 1266000 777040 -102180 BERJAYA 4.05 4.1 4.05 4.1 3.85 4.1 2820000 11251060 -644460 10.7 11.12 10.7 11.12 10.62 11.12 2691900 28940244 -1540274 BLOOMBERRY 2.45 2.52 2.48 2.48 2.45 2.45 93000 229280 -135310 PACIFIC ONLINE LEISURE AND RES 2.54 2.55 2.56 2.56 2.52 2.55 154000 390910 -112979.9999 MANILA JOCKEY 3.36 3.39 3.36 3.36 3.36 3.36 9000 30240 4.41 4.99 4.41 4.41 4.41 4.41 2500 11025 PH RESORTS GRP 0.57 0.58 0.59 0.59 0.57 0.58 1117000 640790 -161479.9995 PREMIUM LEISURE PHIL RACING 7.68 8.99 7.68 7.68 7.68 7.68 400 3072 11.4 11.48 11.42 11.48 11.4 11.48 1864300 21357964 -3406008 ALLHOME 2.13 2.14 2.18 2.18 2.13 2.14 262000 563080 143910 METRO RETAIL 40 40.35 40.45 40.45 39.5 40.35 129900 5231350 -198780 PUREGOLD ROBINSONS RTL 71.45 72 72.8 73 71 72 520660 37409076 -9746242.5 SSI GROUP 2.64 2.65 2.61 2.65 2.58 2.64 1024000 2682030 1357840 18.38 18.4 18.4 18.5 18.22 18.4 5370000 98755930 -20705984 WILCON DEPOT 0.4 0.41 0.385 0.405 0.38 0.405 640000 253100 -39350 APC GROUP EASYCALL 8 8.2 8.2 8.2 8 8.1 3600 29000 418.2 436.4 436.4 436.4 436.4 436.4 100 43640 GOLDEN BRIA 6.1 6.2 6.2 6.2 6.2 6.2 1300 8060 3100 IPM HLDG PRMIERE HORIZON 0.33 0.335 0.34 0.35 0.33 0.335 6630000 2236250 47500 SBS PHIL CORP 8.8 8.81 8.84 8.84 8.75 8.81 33000 290430

MINING & OIL ATOK 10.02 10.92 10.96 10.96 10.96 10.96 100 1096 APEX MINING 0.89 0.9 0.95 0.95 0.89 0.9 4292000 3912690 -451340 ABRA MINING 0.0015 0.0016 0.0014 0.0015 0.0014 0.0015 67000000 98000 2.41 2.49 2.41 2.41 2.41 2.41 60000 144600 ATLAS MINING 1.11 1.19 1.09 1.09 1.09 1.09 3000 3270 BENGUET B COAL ASIA HLDG 0.27 0.28 0.275 0.275 0.27 0.27 200000 54100 2.66 2.67 2.66 2.69 2.66 2.66 1039000 2783490 CENTURY PEAK 6.87 6.88 6.91 7.21 6.88 6.88 124200 854553 DIZON MINES 1.6 1.61 1.59 1.63 1.56 1.61 2029000 3218110 197350 FERRONICKEL GEOGRACE 0.199 0.205 0.2 0.206 0.2 0.205 330000 66110 0.091 0.094 0.094 0.094 0.092 0.092 810000 75350 LEPANTO A 0.09 0.101 0.098 0.101 0.098 0.101 840000 82350 20580 LEPANTO B 0.0077 0.0079 0.008 0.008 0.0077 0.0077 93000000 741600 MANILA MINING A MANILA MINING B 0.0075 0.008 0.0085 0.0085 0.0075 0.0075 17000000 133400 0.8 0.84 0.85 0.85 0.8 0.81 566000 457380 8100 MARCVENTURES 0.94 1 0.98 1 0.94 1 71000 67790 NIHAO 2.94 2.97 2.9 2.96 2.88 2.94 2171000 6360580 3399940 NICKEL ASIA PX MINING 2.66 2.79 2.85 2.85 2.66 2.67 1544000 4251690 -1405860 SEMIRARA MINING 21.2 21.25 21 21.4 20.65 21.2 1603800 33751340 -2670805 6.7 6.85 6.51 6.9 6.45 6.85 173500 1147544 30029 ACE ENEXOR 0.011 0.012 0.011 0.011 0.011 0.011 35600000 391600 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.012 0.012 0.012 0.012 650100000 7801200 0.01 0.011 0.011 0.011 0.01 0.011 62900000 689000 PHILODRILL 8.4 8.7 8.41 8.75 8.3 8.4 626000 5260263 117881 PXP ENERGY

PREFFERED

HOUSE PREF A 97.75 99.75 99.55 99.8 99.55 99.8 4120 410925.5 410925.5 AC PREF B1 499 502 501 501 501 501 1200 601200 505 507 505 505 505 505 2600 1313000 AC PREF B2R 100.3 101 100.3 100.3 100.3 100.3 10000 1003000 DD PREF 997 998.5 997 997 997 997 90 89730 SMC FB PREF 2 FGEN PREF G 108.2 112.8 112.8 112.8 112.8 112.8 50 5640 990 1000 1000 1000 1000 1000 1000 1000000 GTCAP PREF B 1 1.02 1 1.03 1 1 231000 231030 LR PREF 99.5 101 100 100 100 100 1750 175000 MWIDE PREF PNX PREF 3A 100.9 102.3 100.6 102.3 100.6 102.3 110 11083 106.6 109 106.5 106.5 106.5 106.5 10 1065 PNX PREF 3B 1023 1030 1029 1030 1029 1030 260 267795 262650 PNX PREF 4 1026 1030 1025 1030 1025 1030 8155 8389450 3090000 PCOR PREF 3A PCOR PREF 3B 1051 1059 1060 1060 1060 1060 1950 2067000 77.7 78 77.5 78 77.5 78 5110 396350 SMC PREF 2C 75.1 76 75.1 75.1 75.1 75.1 1700 127670 SMC PREF 2D 74.05 76 74.3 74.3 74 74 24900 1845225 SMC PREF 2E SMC PREF 2F 75.5 76.85 76.9 76.9 76.9 76.9 5000 384500 74.3 75.95 74.5 75 74 75 28010 2076685 SMC PREF 2H PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

13.76 5.05

15 5.2

15 5.19

15 5.2

13.52 5.15

15 5.2

281900 47000

4219072 244379

WARRANTS LR WARRANT

1.2

SMALL & MEDIUM ENTERPRISES

ITALPINAS 3.63 9.35 KEPWEALTH MAKATI FINANCE 2.48 0.75 XURPAS

1.36

1.2

1.2

1.2

1.2

41000

49200

-

3.77 9.4 2.49 0.76

3.7 9.6 2.45 0.79

3.8 9.8 2.5 0.79

3.63 9.33 2.44 0.76

3.77 9.4 2.48 0.76

375000 293800 51000 2797000

1384650 2783960 125690 2149260

26060 7572 3800

EXHANGE TRADE FUNDS FIRST METRO ETF

115.8

2514434 -32765

115.9

116.1

116.1

115.4

115.9

4380

507309

48630

www.businessmirror.com.ph

Neda: Water concession contracts must be shorter

T

By Cai U. Ordinario

@caiordinario

he National Economic and Development Authority (Neda) said on Wednesday the water concession period must be shorter than 25 years to avoid creating the same problems that are now plaguing the country’s water sector.

Socioeconomic Planning Secretary Ernesto M. Pernia said in a news briefing that water concession contracts must be shortened to 15 years instead of the 25 years given to concessionaires.

This should be complemented by efforts to remove other “onerous provisions” in the concession agreement signed by the government in 1997 with Manila Water and Maynilad.

“The length of the concession was 25 years, maybe that should be shorter, maybe 15 years. I think Secretary of Justice [Menardo] Guevarra cited about a dozen onerous provisions in the contract. But I cannot fathom all those because they are quite legalistic in terms so those are the standout items,” said Pernia.

Other items in the conces-

sion agreements that should be changed, Pernia said, are provisions that prevent the government from intervening in the setting of water rates.

He added that the tax exemption of water concessionaires must also be removed. Pernia said, “The concessionaires are exempt from taxes because the taxes they are levied on are shifted back to the people.”

Pernia also said the concession agreements must be reviewed periodically or be subjected to a mid-term review. He said the current concession agreement should have been reviewed at least 10 years ago.

The agreements can be changed at this time, Pernia said, given the strength of the economy. This was

Bill to double deposit insurance cover filed

A

member of the House Committee on Banks and Financial Intermediaries has filed a bill proposing to double the maximum insurance protection of the country’s 63 million bank depositors.

In House Bill 5812, Makati City Rep. Luis Campos Jr. proposed to increase the maximum deposit insurance coverage (MDIC) from P500,000 to P1 million per-depositor per bank.

According to the state-run Philippine Deposit Insurance Corp., since 2017 alone, tens of thousands of depositors have been affected by the collapse or closure of 41 banks, mostly rural lenders. The bill seeks to amend the PDIC charter.

“We have to restore the full value of protection of the MDIC at today’s prices, if we want to encourage Filipinos to continue to keep their money in banks,” Campos said in a statement.

He said the MDIC’s “full value of protection” has been eroded considerably by the general increase in prices over the last 10 years.

The MDIC was initially fixed at P10,000 in 1963; and then increased to P15,000 in 1978; P40,000 in 1984; P100,000 in 1992; P250,000 in 2004; and P500,000 in 2009.

According to Campos, banks pay for the compulsory insurance premiums that guarantee the MDIC. The lawmaker, citing PDIC, said the Philippine banking system had P12.745 trillion in total deposits as of December 31, 2018, up 8.8 percent from P11.710 trillion the previous year.

“The deposits were spread over 62.9 million accounts in 2018, up 10.1 percent from 57.1 million accounts the year before,” he added.

Campos cited the growing number of Filipino middle-class families, including those with breadwinners abroad, that now have more than P1 million in liquid assets that may be held in banks.

“We are positive that our bill, once enacted, will also help reinforce public confidence in the banking system that plays an indispensable role in driving national economic growth,” Campos said. Jovee Marie N. Dela Cruz

PNOC-EC matches Udenna’s offer for Malampaya stake

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he Philippine National Oil Co.-Exploration Corp. (PNOC-EC) has exercised its right to match the offer of Dennis Uy-led Udenna Corp. (UC) for the purchase of a 45-percent stake in the Malampaya deepwater gas-topower project.

PNOC-EC holds a 10-percent stake in the Malampaya project. UC recently acquired international petroleum giant Chevron’s 45-percent stake in Malampaya. The remaining 45 percent is still owned by Shell Philippines Exploration BV (SPEx).

With PNOC-EC exercising its right, it will then proceed to acquire 10 percent of UC’s 45-percent interest in the project.

“Yes, the board approved it already so PNOC-EC is exercising its right,” said Energy Secretary Al-

fonso G. Cusi, who is also the chairman of PNOC-EC. “The question now is how much. Well, it will be 10 percent of whatever value. The next question is how much did Udenna buy the 45 percent. If I remember it right, it’s $560 million plus. Whatever amount that is, PNOC-EC has the right to match that 10 percent,” Cusi added.

When asked for the reason that PNOC-EC exercised its right while SPEx, which has a much bigger interest in the project and is the operator of the project, did not, Cusi said, “We feel that the acquisition price is advantageous for EC. It’s an opportunity for EC to invest, because [we see] that the return will be good.

This matter, he added, will be further discussed during the PNOC-EC board meeting on Friday. Lenie Lectura

not the case in 1997, when the government entered into a contract with the two water concessionaires.

“I can understand that in 1997 the government was at the mercy of investors because our economy was considered a high-risk economy,” said Pernia.

“I think what should have been done and this should have also been in the conscience of water concessionaires that in 2009 and 2010, the economy was doing better so there was really no need to continue with the same conditions in the concession agreement,” he explained.

Pernia said the “most objectionable thing” regarding the whole issue was that the contract is being extended 13 years before expiration. The contract was extended by 15 years, or until 2037, from 2022.

He lamented that there was no renegotiation or a review of the concession agreement prior to the extension. A review could remove “onerous provisions” in the contract.

“I’m sure the investors will understand that there was something fishy, or something wrong with how concession agreements were handled by the concessionaires, as well as the MWSS [Metropolitan Waterworks and Sewerage System] which is their regulator,” Pernia said.

The Neda chief also expressed

mutual funds

concern that Social Security System and the Government Service Insurance System will be negatively affected by their investments in the water concessionaires.

“I guess there will be a setback on those investments but it will recover.

They will recover in time with the adjustments that will be made especially now that the concessionaires are contrite. They have apologized and they are willing to renegotiate for new contracts,” said Pernia.

Malacañang had insisted on the revocation of the 15-year extension of the 1997 concession agreements of the water concessionaires with the government.

This, despite reports quoting MWSS Administrator Emmanuel Salamat as saying that the extension of the concession deals until 2037 has not been “out rightly revoked” but is still up for renegotiation.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo told reporters in an interview on Tuesday that the concession deals would expire in 2022 since MWSS has already revoked the extension.

The Palace is also unfazed by reports that the capital expenditure program of Maynilad is now put on hold since the banks have suspended lending money to the water concessionaire.

December 18, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 249.31 -1.69% 1.29% -0.37% -1.15% ATRAM Alpha Opportunity Fund, Inc. -a 1.3832 -2.31% 1.07% -3.11% -4% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.6619 -6.84% -1.61% -3% -6.18% Climbs Share Capital Equity Investment Fund Corp. -a 0.8846 -1.28% n.a. n.a.

-1.82% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8424 1.62% n.a. n.a.

2.64% First Metro Save and Learn Equity Fund,Inc. -a 5.2706 -0.05% 2.2% -0.53% -0.05% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8453 0.81% -1.66% n.a.

1.03% MBG Equity Investment Fund, Inc. -a 103.29 -10.25% n.a. n.a. -11.08% PAMI Equity Index Fund, Inc. -a 50.7647 2.37% 3.64% n.a.

3.13% Philam Strategic Growth Fund, Inc. -a 527.65 1.92% 2.29% 0.12% 2.51% Philequity Alpha One Fund, Inc. -a,d,8 0.9976 n.a. n.a. n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a 1.2741 0.78% 2.84% 0.86% 1.6% Philequity Fund, Inc. -a 37.5547 1.78% 3.83% 0.84% 2.52% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0109 n.a. n.a. n.a. n.a.

Philequity PSE Index Fund Inc. -a 3.47% 4.43% 2.13% 4.26% 5.1702 Philippine Stock Index Fund Corp. -a

862.62 3.36% 4.31% 2.1% 4.13% Soldivo Strategic Growth Fund, Inc. -a 0.8486 -1.96% 1.31% n.a.

-1.33% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.1649 1.61% 3.46% 1.08% 2.61% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9902 3% 4.11% n.a.

3.76% United Fund, Inc. -a 3.6215 2.68% 5.4% 2.74% 3.45% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 115.6657 3.69% 5.04% 3.08% 4.44% ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0116 7.88% 5.72% 0.99% 8.88% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3609 17.19% 9.15% n.a.

23.14% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5581 -6.05% -2.2% -3.82% -5.64% ATRAM Philippine Balanced Fund, Inc. -a 2.18 -1.44% -0.44% -1.18% -1.32% First Metro Save and Learn Balanced Fund Inc. -a 2.6126 2.83% 2.57% -0.9% 2.73% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2307 n.a. n.a. n.a. n.a.

Grepalife Balanced Fund Corporation -a 1.3289 1.47% n.a. n.a.

1.89% NCM Mutual Fund of the Phils., Inc. -a 1.9546 5.84% 3.17% 1.46% 6.05% 0.57% 6.64% PAMI Horizon Fund, Inc. -a 3.7636 6.23% 2.38% Philam Fund, Inc. -a 16.8611 5.7% 2.26% 0.51% 5.99% Solidaritas Fund, Inc. -a 2.1109 1.66% 2% 1.14% 2.02% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8262 4.14% 3.19% 0.84% 4.79% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0087 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9867 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9836 n.a. n.a. n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9657 4.04% 2.47% 0.01% 4.77% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03822 8.86% 3.08% 2.13% 8.27% PAMI Asia Balanced Fund, Inc. -a $1.0242 9.35% 4.52% 1.17% 12.09% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8761 13.24% 7.3% 4.43% 17.15% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1234 9.99% 4.4% n.a.

11.78% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 357.25 4.13% 2.8% 2.29% 4.01% ATRAM Corporate Bond Fund, Inc. -a 1.901 2.33% 0.18% -0.59% 2.25% Cocolife Fixed Income Fund, Inc. -a 3.1145 5.02% 5.21% 5.22% 4.65% Ekklesia Mutual Fund Inc. -a 2.2215 4.32% 2.5% 1.91% 4.33% 2.26% 1.58% 6.9% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3573 6.78% Grepalife Fixed Income Fund Corp. -a P 1.6068 2.8% 1.17% -0.22% 2.71% Philam Bond Fund, Inc. -a 4.3686 11.56% 2.85% 1.66% 11.45% Philequity Peso Bond Fund, Inc. -a 3.7761 8.12% 2.9% 1.48% 7.36% Soldivo Bond Fund, Inc. -a 0.9624 7.94% 1.56% n.a.

7.99% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0643 10.9% 4.77% 2.55% 10.79% Sun Life Prosperity GS Fund, Inc. -a 1.6974 10.36% 4.48% 2.09% 10.23% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $467.86 4.46% 2.76% 2.82% 4.34% Є219.82 3.41% 1.71% 1.33% 3.36% ALFM Euro Bond Fund, Inc. -a ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2054 7.2% 3.11% 2.59% 7.08% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 3.61% 1.46% 1.29% 4.03% Grepalife Dollar Bond Fund Corp. -a $1.7089 1.17% 0.04% 0.15% 1.11% PAMI Global Bond Fund, Inc -a $1.094 6.18% 1.42% -0.99% 5.57% Philam Dollar Bond Fund, Inc. -a $2.4035 11.08% 3.78% 3.06% 10.72% Philequity Dollar Income Fund Inc. -a $0.0603333 5.89% 2.32% 1.99% 5.85% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1807 10.82% 3.23% 2.77% 10.74% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.65 4.11% 2.84% 2.16% 3.95% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0316 n.a. n.a. n.a. n.a.

Philam Managed Income Fund, Inc. -a 1.2552 6.35% 2.91% 1.7% 6.2% Sun Life Prosperity Money Market Fund, Inc. -a 1.2632 3.77% 2.87% 2.32% 3.61% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0366 2.1% n.a. n.a.

2.04% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.99 n.a. n.a. n.a. n.a. a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is November 15, 2019.

5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.).

7 - Adjusted due to stock dividend issuance last October 9, 2019. 8 - Launch date is December 09, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

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

The World

UK opens inquiry into Google’s takeover of data analytics firm

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ONDON—Britain’s competition watchdog said on Tuesday it launched a formal inquiry into Google’s takeover of cloud data analytics company Looker Data Sciences, as it intensifies scrutiny of technology deals.

The Competition and Markets Authority said it had notified the two companies on Monday that it was opening an initial inquiry and would decide on February 13, whether to escalate it to a more in-depth investigation.

The authority said this month it was looking into whether the $2.6 billion acquisition would result in less competition in the UK market.

Google said in a statement that “the acquisition of Looker has received regulatory approval in the US and Austria, and we continue

to make progress with regulators in the UK.” The US tech giant said in June it was buying Looker, which helps customers visualize data, as it seeks to compete with rivals including Amazon in the lucrative cloud service business.

T he inquir y comes a week after the authority stepped up pressure on a separate tech deal, by threatening Amazon with an in-depth investigation of its plan to buy a stake in food deliver y platform, Deliveroo, unless it came up with proposals to address competition concerns.

Google has also come under regulatory pressure on various fronts in the US, where authorities at both the state and federal level have opened investigations into tech giants. AP

France on strike: Power cuts, schools shut, no Eiffel Tower

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ARIS—French union activists cut electricity to nearly 100,000 homes or offices.

Eiffel Tower staff walked off the job. Even Paris opera workers joined in Tuesday’s nationwide protests across France, singing an aria of anger as workers rallied against the government’s plan to raise the retirement age to 64.

Despite 13 days of crippling train and subway strikes, French President Emmanuel Macron and his government stayed firm. The prime minister declared his “total” determination to reshape a pension system that unions celebrate as a model for the rest of the world but that he calls unfair and destined to collapse into debt.

Lighting red flares and marching beneath a blanket of multicolored union flags, thousands of workers snaked through French cities from Brittany on the Atlantic to the Pyrenees in the south.

Hospital workers in scrubs, Air France staff in uniforms, lawyers wearing long black robes—people from across the French work force joined in the strikes and protests in higher numbers than the last crosssector walkout last week.

The retirement reform that has brought them together is just one of their many gripes against Macron, a business-friendly centrist they fear is dismantling France’s costly but oft-envied welfare state.

Workers from the hard-left CGT union on Tuesday carried out what they called “targeted” blackouts on electricity networks around Lyon and Bordeaux to call attention to their grievances, and their power.

Several European countries have raised the retirement age or cut pensions in recent years to keep up with lengthening life expectancy and slowing economic growth.

Macron argues that France needs to do the same.

Tourists canceled plans and Paris commuters took hours to get to work on Tuesday, as train drivers kept up their strike against changes to a system that allows them and other workers under special pension regimes to retire as early as their 50s.

“Monument Closed” read a sign on the glass wall circling the base of the Eiffel Tower, which was shut for the second time since the strike, one of the most protracted France has seen in years, started December 5.

“It’s very frustrating for us, unfortunately,” South African tourist Victor Hellberg said, gazing up at the 19th century landmark. “We had decided to be here for one day and that’s life I suppose.”

Victor Garcia, visiting from Barcelona, said he’s used to protests at home but admitted not climbing the Eiffel Tower’s steps “is kind of a bummer.”

Police in Paris barricaded the presidential Elysee Palace, bracing for violence by “yellow vest” activists or other radical demonstrators.

Across the French capital, union leaders demanded that Macron drop the retirement reform.

“They should open their eyes,” said Philippe Martinez, the head of the CGT union, said at the head of the Paris march.

With riot police watching closely, protesters carrying humorous signs and colorful costumes marched past the historic Bastille plaza. On the steps of the opera house overlooking the monument, workers sang famous arias and played instruments to defend their special retirement plan.

Bernard Buffet, a costume fitter, is 63 and retiring in April after 35 years at the Bastille Opera, but is protesting in solidarity with younger colleagues.

“The government is stuck on the reform. They are very arrogant,” he said.

Prime Minister Edouard Philippe confirmed new negotiations with unions starting on Wednesday, but showed no sign of backing down.

“Democratic opposition, union opposition is perfectly legitimate,” he told lawmakers. “But we clearly laid out our plans. And on this plan, the creation of a universal retirement system, my determination...is total.”

He also paid tribute to “the French who go to work despite difficulties.”

In addition to transportation troubles, parents faced shuttered schools and students had key exams canceled on Tuesday as teachers joined in the strike.

Hospitals requisitioned workers to ensure key services on Tuesday, as nurses, doctors and pharmacists went on strike to save a once-vaunted public hospital system that’s struggling after years of cost cuts.

Tuesday’s protests upped the pressure on Macron, whose key architect of his pension overhaul had to resign Monday over alleged conflicts of interest.

Unions fear people will have to work longer for lower pensions, and polls suggest at least of half of French people still support the strike. Unions at the SNCF rail authority want to keep the strike going through the Christmas holidays. AP

BusinessMirror

Thursday, December 19, 2019

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Trump on brink of impeachment as House readies historic vote

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ASHINGTON—President Donald J. Trump is on the cusp of being impeached by the House, with a historic debate set on Wednesday on charges that he abused his power and obstructed Congress ahead of votes that will leave a defining mark on his tenure at the White House.

Tr ump, who would be just the third US president to be impeached, on Tuesday fired off a furious letter to Speaker Nancy Pelosi denouncing the “vicious crusade” against him, but he also acknowledged he was powerless to stop the expected outcome.

“When people look back at this affair, I want them to understand it, and learn for it, so that it can never happen to another president again,” he wrote.

Pelosi, who warned earlier this year against pursuing a strictly partisan impeachment, nonetheless has the numbers from Democrats to approve it. According to a tally compiled by The Associated Press, Trump is on track to be formally charged by a House majority.

“Very sadly, the facts have made clear that the president abused his power for his own personal, political benefit and that he obstructed Congress,” Pelosi wrote to colleagues, asking them to join in the morning as the House convenes.

“In America, no one is above the law,” she said. “During this very prayerful moment in our nation’s history, we must honor our oath to support and defend our Constitution from all enemies, foreign and domestic.”

The rare undertaking to impeach a president, set to unfold over more than six hours of debate on Wednesday, is splitting the lawmakers in Congress much the way Americans have different views of Trump’s unusual presidency and the articles of impeachment against him.

Trump implores Americans to “read the transcript,” but the facts of his phone call with the Ukraine president are not necessarily in dispute. Trump asked Volodymyr Zelenskiy to investigate Democrats and his 2020 political rival Joe Biden. At the time, the newly elected Ukraine leader was hoping for a coveted White House visit to showcase his standing with the US, his country’s most important ally.

He was also counting on nearly $400 million in military aid as his country confronts a hostile neighbor, Russia.

The question for lawmakers, and Americans, is whether those actions, and the White House’s block on officials testifying for the House investigation, are impeachable offenses.

I n h i s le t te r on Tue s d ay, Trump defended his “absolutely perfect” phone call that sparked the impeachment inquir y.

On the eve of the House debate, Trump appeared to intend

his lengthy, accusatory message less for Pelosi than for the broad audience of citizens—including 2020 voters—watching history unfolding on Capitol Hill.

He accused the Democrats of acting out of “Trump Derangement Syndrome,” still smarting from their 2016 election losses.

“You are the ones bringing pain and suffering to our Republic for your own selfish, personal political and partisan gain,” he wrote.

Portraying himself as a blameless victim, as he often does, Trump compared the impeachment inquiry to the “Salem witch trials.” Asked later if he bore any responsibility for the proceedings, he said, “No, I don’t think any.

Zero, to put it mildly.”

But the House impeachment resolution says Trump abused the power of his office and then tried to obstruct the investigation in Congress like “no other’’ president in history.

Trump “betrayed the nation by abusing his high office to enlist a foreign power in corrupting democratic elections,” the resolution says.

“President Trump, by such conduct, has demonstrated that he will remain a threat to national security and the Constitution if allowed to remain in office.”

Ahead of House votes, one by one, centrist Democratic lawmakers, including many first-term freshmen who built the House majority and could risk their reelection in districts where the president is popular, announced they would vote to impeach.

Many drew on the Constitution and the intent of the country’s founders as they considered the role of Congress to conduct oversight in the nation’s system of checks and balances.

Rep. Abby Finkenauer, D-Iowa, referred to the oath she took in January as she was sworn into office as guiding her decision. She announced support for both articles of impeachment to “honor my duty to defend our Constitu-

tion and democracy from abuse of power at the highest levels.”

Republicans disagreed, firmly.

Senate Majority Leader Mitch McConnell set the partisan tone for the next step, as attention will shift to the Senate which, under the Constitution, is required to hold a trial on the charges. That trial is expected to begin in January.

“I’m not an impartial juror,” McConnell declared. The Republicanmajority chamber is all but sure to acquit the president.

L aw ma kers crossing par t y lines face consequences. One freshman Democrat, Jeff van Drew of New Jersey, is indicating he will switch parties to become a Republican after opposing impeachment. Earlier this year, Michigan conservative Rep. Justin Amash left the GOP when he favored impeachment.

One new Democrat congressman, Jared Golden of Maine, said he would vote to impeach on abuse of power but not obstruction.

H o p i n g t o d i s p a t c h w it h leng t hy Sen ate proceed i ngs, McConnel l rejected Senate Democrats’ push for fresh impeachment testimony and made a last-ditch plea that House Democrats “turn back from the cliff ” of Wednesday’s expected vote. AP

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Eusebio siblings spearhead annual Christmas gift giving

75th graduation ceremony of the Asian Institute of Management

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HE Asian Institute of Management’s 75th Graduation Ceremony was held on December 8, 2019 at the Stephen Fuller Hall. One hundred graduates received their Masters’ degrees from President and Dean Dr. Jikyeong Kang and the respective heads of the Washington Sycip Graduate School of Business, the Stephen Zuellig School of Development Management and the Aboitiz School of Innovation, Technology and Entrepreneurship.

The occasion was a triumphant finale to the students’ rigorous academic journey at one of the preeminent

management schools in the region.

One of the highlights of the ceremony was the conferment of an Honorary Doctorate in Management to the Hon. Conchita Carpio-Morales, former Ombudsman and Associate Justice of the Supreme Court. In her speech, she exhorted the graduates to use their world-class education to pursue the common good as they strive to make their mark in Asian businesses and societies. Eloquently stating that brilliance lacks luster if devoid of virtue, she challenged the graduates to rise to the occasion when confronted with situations that

test their personal integrity and core values. She quoted the late Washington Sycip, one of AIM’s founders, “We must have leaders who will think of what is good in terms of the country as a whole - not just in terms of profits for themselves.” She also encouraged the graduates to soar high in their professional achievements while instilling the virtue of integrity in the way they conduct business.

To show support to the honoree were former Chief Justice of the Supreme Court Artemio Panganiban, former Associate Justice Antonio Carpio, president of the University of the Philippines Danilo Concepcion, National Artist F. Sionil Jose and National Scientist Raul Fabella.

The Asian Institute of Management holds two graduations annually to accommodate the growing number of students enrolled in the Institute’s expanding program offerings. Aside from the flagship Master in Business Administration program, AIM also offers part-time courses like the Executive Master in Business Administration, Master of Science in Innovation and Business, Master in Entrepreneurship and the Executive Master in Disaster Risk and Crisis Management.

Full-time programs include the Master of Science in Data Science and the Master in Development Management. The next graduation will be on June 28, 2020.

Former Pasig City Mayor Bobby Eusebio gives his opening remarks prior to the gift giving activity.

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S part of the Christmas tradition of the Eusebio family, former Pasig City Mayor Robert “Bobby” Eusebio, together with his siblings, spearheaded their annual giftgiving even to street children of Pasig at Dona Juana Subdivision Covered Court in Rosario, Pasig City last December 7, 2019.

Each of the five Eusebio siblings were tasked to prepare Christmas gift bags for 100 beneficiaries, making it a total of 500

beneficiaries.

During the gift giving activity, there were performances from magicians and clowns.

There were also games and prizes for all those who participated in the games. The festivities ended with a simple feast for the participants.

The annual gift giving started in 1992 and it has become an annual festivity. This year, the Eusebio family focused on granting the Christmas wish list of the children.

THRILLING, GRAND AND EXCELLENT. TRAVELLERS INTERNATIONAL HOTEL GROUP, INC., operator of the country’s premier entertainment and lifestyle destination Resorts World Manila (RWM), was given the prestigious corporate excellence award in the recent Enterprise Asia’s 2019 Asia-Pacific Entrepreneurship Awards (APEA) held on November 22. The award recognizes RWM’s grand first decade of providing guests with world-class hospitality, food service, and tourism offerings. Receiving the award are (from L-R), RWM Director for Corporate Communications Joee Guilas, Holiday Inn Express Manila General Manager Boy Beloso, RWM Sr. Director for Corporate Sponsorship and Theater Management Ana Chua, RWM Chief integrated Marketing Officer Martin Paz, RWM Public Relations Manager Joy Andrade, RWM Director for Marketing Communications and Special Events and Promotions Gerald Magtoto, and RWM Assistant Director for Creative Group Randy Tiempo.

Greenwich unveils new learning center

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REENWICH, the number one pizza and pasta brand in the Philippines, recently inaugurated its state-of-the-art training facility located in the heart of Kapitolyo in Pasig.

Inspired by the youthful dynamism of the brand’s market and its team members, the Barkada Campus is a testament of Greenwich’s commitment in accelerating the capability of its employees to cater to its customers through its over 300 stores nationwide.

According to Mike V. Castro, General Manager, “The

facility, appropriately named Greenwich Barkada Campus, is designed to foster continuous employee learning, engagement, collaboration, and ideation – ultimately helping us deliver our promise to provide the best-tasting pizzas and pasta over a truly enjoyable barkada experience.”

The 1120-sqm Barkada Campus, composed of multiple classrooms, a computer laboratory, meeting rooms, a store kitchen and a dining set-up, will house learning programs for Operations team and Head Office staff as well as leadership development courses to its Managers.

GEN KOREAN BBQ HOUSE – The Ultimate Party Place this Holiday!

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HRISTMAS is a long feast celebration in the country.

Having special food and a place to celebrate are on top of your list for series of gatherings of the mix people you love from GEN X, Y and Z. Something that will in script in mind a Yuletide gathering worth to remember for this year 2019.

The solution is here, celebrate with Gen Korean BBQ House – fusion of the expanded menu from Los Angeles, California and Manila is definitely where you can savor the ultimate experience in an All-YouCan Eat (AYCE) Korean BBQ concept, the home of the impressive selection of freshly prepared 100% imported U.S. premium meats for steaks, beef, chicken, pork and seafood.

Have this worthwhile experience as AYCE food is brought to your table and which you can cook or they can cook right before you. As the grilling starts, the excitement begins. The engrossing aroma is spread in the air. Perfectly match with an appetizing traditional thriving flavor of side dishes offering.

A meal fitted to your budget starts at Php 798+ during lunch of weekdays from 11am to 4pm, and

dinner price is Php 1,298+ from 4pm to closing and on weekends and whole day of weekends and holidays.

What’s more, you can have other options on a per head basis with perks and surprises from their end for volume bookings.

Making this Season a supreme quality one, go to GEN Korean BBQ House located at Bldg., J Unit 1-16 SM By the Bay, Seaside Boulevard, MOA Complex, Pasay City, for a hassle-free Holiday Celebration. GENerally, your dining experience with them will make you come back. For bookings and reservations, please call (02) 85412766; (0917) 6218249 for more information you may visit its Facebook page: Gen Korean BBQ House PH (GenKBBQPH); IG: genkbbq_ph Have a Belly Merry Christmas!

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Sports BusinessMirror

Thursday, December 19, 2019

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INTERNATIONAL DILEMMA B D F The Associated Press

THE US’s Tony Finau (center bottom) takes a photo with his teammates and the trophy after winning the Presidents Cup as International captain Ernie Els (bottom) and Joaquin Niemann of Chile ride a cart during a practice round ahead of the tournament. AP

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ELBOURNE, Australia—Ernie Els has finished second to Tiger Woods more than any other player, and he never looked more spectacular doing it than as captain in the Presidents Cup. “OK, you got me,” Els said to him with a wry grin during the closing ceremony at Royal Melbourne.

Was it really a surprise?

Sure, the Americans were the first team to rally from a deficit on the final day to win the Presidents Cup, and it was their first in any cup since a fourpoint comeback in the Ryder Cup at Brookline in 1999. Some context is required. They’ve won the Ryder Cup only twice since then, and they hardly ever lose the Presidents Cup. Even with a 10-8 lead going into singles, Els and his International team were playing against a stacked deck, as usual.

It wasn’t as bad as the time Els trailed Woods by 10 shots going into the final round at Pebble Beach in the US Open. Still, it didn’t seem like a fair fight.

The Internationals had only two players among the top 20 in the world ranking.

Woods’s team had 10 players from the top 20, and that didn’t even include the injured Brooks Koepka at No. 1 in the world.

Two of the four wild-card selections for

the Americans, including Woods, won majors this year. In the singles session, the outcome felt inevitable.

Els was gracious in defeat, and also gutted.

He had fashioned 12 players representing nine flags into a team with identity and purpose. The logo he created for the International team was a combination of shields and badges culled from history that spoke to unity and loyalty, friendship, strength and fight. And they had a chance, which is more than they’ve had some years.

“If you compare our team on paper with other teams in other sport, you would have laughed us out of the building,” Els said. “But we gave it a hell of a go and we came mightily close to winning and upsetting one of the greatest golf teams of all time.”

But they didn’t.

And it won’t get any easier the next time. Or the time after that.

This is about more than world rankings and experience, about which team looks better on paper. Because if it were, then how to explain the Ryder Cup? Europe is strong now. It wasn’t always.

It still has an 11-8-1 lead over the United States dating to 1979, the start of the modern era.

But while the Ryder Cup is billed as a contest between the flags of two continents, it’s really between two tours.

The European Tour picks the venue (it usually goes to the highest bidder these days). It has full control of all operations.

Paris last year felt like a home game—the course, not just the crowd—just as Hazeltine was for the Americans.

The Presidents Cup is a match between two teams, one owner. The PGA Tour selects the site. The Professional Golfers Association (PGA) Tour picks the captains, though not without heavy input from all the key people on the International side.

That magnificent logo Els created for the International team? He said it required PGA Tour approval. The support staff for the International team are PGA Tour employees, even if they hail from countries outside the US. The money—the Presidents Cup sells extremely well— stays with one organization every time.

That’s not why the Americans win, and Els wasn’t suggesting that. They win because they play better golf and hole more putts. There is a comfort level at the Presidents Cup they don’t experience in the Ryder Cup. “I know it’s a PGA Tour-sanctioned event, OK?” Els said.

“But to really be able to do what you need to do, you need to be almost a separate...you need to be away from the PGA Tour.”

Nothing personal. He paused to pat the back of Mark Williams, who played professionally in Australia and now works as a media official for the PGA Tour. Last week, he was assigned to the International team and fit right in.

“I love these guys. They work for the tour and all that,” Els said. “But to make our own rules, to get our own choices, to do our own thing, it’s hard to explain. But we need to be separate.... The Ryder Cup works because the Europeans do their own thing and the US do their own thing. It’s two groups that clash. We’re trying to do it under one umbrella.”

The next Presidents Cup will be at Quail Hollow Club in North Carolina, a home game for the US team. And then?

A group from Thailand was at Royal Melbourne last week expressing interest. The best bet is a return to Royal Montreal.

Another one in Asia or the first one in a Latin America country is possible after that.

It would help if the Internationals would win. Keeping it close only does so much. If they ever do, that might only remind Els of the one problem that can’t be solved.

Where would the International team display the trophy?

Golf changes, television deal and Masters push

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ELBOURNE, Australia—CBS Sports, which already has gone through additions and subtractions going into its golf season, had one of the biggest changes when Lance Barrow announced he was stepping down as producer after the 2020 season.

Barrow will be succeeded by Sellers Shy, who will increase his duties next year.

Shy will be only the third coordinating producer for golf at CBS over the last 60 years. Frank Chirkinian had that role from 1959 until he retired in 1996 and was replaced by Barrow.

Barrow first joined CBS in 1976 as a spotter and researcher for Pat Summerall during NFL games. In addition to golf, he was coordinating producer of the NFL and lead producer from 2004 to 2017, along with producing four Super Bowls. He has won 12 Emmy Awards at CBS. Barrow stays on in an advisory role.

“For over 40 years, Lance has embodied the tradition and history of CBS Sports golf and set the standard of excellence in golf production,” said Sean McManus, chairman of CBS Sports.

“He is a golf institution and has been a tremendous ambassador of the sport on behalf of CBS Sports.”

Shy first worked with CBS as a spotter during the 1987 Danny Thomas Memphis Classic in Memphis. He has produced the PGA Tour, NFL, NCAA basketball and highlight shows for the Masters and PGA Championship during his career at CBS. Shy currently produces the Asia Pacific Amateur and Latin America Amateur.

Over the last few months, the contracts of Peter Kostis and Gary McCord were not renewed. Davis Love III is joining CBS in an analyst’s role. Frank Nobilo will go to CBS Sports on a full-time

basis, with additional roles for Mark Immelman and his brother, former Masters champion Trevor Immelman. CBS also has hired Michelle Wie. TV DEAL SPORTS Business Journal is reporting on a new television contract with the PGA Tour that looks similar to the one in place now, with one big change at the end of the year.

In a daily newsletter, John Ourand of Sports Business Journal cited multiple sources in reporting that CBS and NBC have agreed on broad terms that would keep them as the main networks for PGA Tour coverage. SBJ says the rights fee would increase by about 60 percent and that the deal would be another nine-year agreement through 2030.

SBJ also reported the tour has agreed to terms with Golf Channel. The change, according to the newsletter, is that CBS and NBC would alternate years covering the FedEx Cup playoffs.

Currently, CBS broadcasts the first playoff event, with NBC having the BMW Championship and Tour Championship. That would be the first time for CBS to broadcast the Tour Championship, which previously was shown only on ABC and then NBC during the FedEx Cup era.

Any deal is not expected to be finalized or announced until the first quarter of next year.

Still to be determined are digital rights for PGA Tour coverage, which currently belong to NBC Sports as part of the live streaming “PGA Tour Live” of featured groups before network coverage begins. SBJ says ESPN and Discovery are part of the negotiations; Discovery currently has international rights.

Another part of the puzzle is what this deal means for the

LPGA Tour, which is having the PGA Tour negotiate its next TV contract. Golf Channel broadcasts the majority of LPGA events, and there were times that LPGA events were shown on tape delay. Golf Channel also has a current deal to air the PGA Tour Champions and Korn Ferry Tour events.

MASTERS PUSH WITH most of the attention on the Presidents Cup last week, Jazz Janewattananond won the Indonesian Masters for his third Asian Tour victory of the year and secured a spot in the real Masters.

The 24-year-old Thai moved to No. 45 in the world ranking and is guaranteed to finish among the top 50, one of the criteria used by Augusta National for its Masters field.

This is the final week of tournaments around the world, with Australian PGA Championship in Gold Coast and the Thailand Masters on the Asian Tour.

That means Victor Perez of France (No. 44), Andrew Putnam and Erik van Rooyen are assured of finishing in the top 50 and securing spots in the Masters.

This week will determined another spot. Adam Hadwin is projected to finish the year at No. 50, but he could get bumped if two-time Australian PGA champion Cameron Smith finishes in a two-way tie for third of better.

That would put the field at 87 players, with the Latin American Amateur Championship in January. Winners of PGA Tour events that offer full FedEx Cup points will be eligible, along with the top 50 published a week before the Masters.

LOST IN TRANSLATION ONE of his best weeks in golf ended on a sour note for Abraham

Ancer, not just because he lost his singles match to Tiger Woods, but because of scrutiny to his reply in Mexico last month about the Presidents Cup. Asked during the Mayakoba Classic about his debut in the matches, specifically singles, Ancer said he’d like to play Woods, “but the truth is that our objective is do everything we can to win. Winning a match in the singles would be very special, so we need to try to get the Cup.” The match turned on the 14th hole when Woods made a 6-foot par putt and Ancer missed from just inside that to fall 2 down. Woods closed him out with a birdie on the 16th hole, turning to remove his cap just as the ball reached the center of the cup.

“Abe wanted it—he got it,” Woods said during the winner’s press conference.

Ancer says the question in Mayakoba was in Spanish and the tone wasn’t presented the right way.

“It was never like cocky or challenging or anything like that,” he said. “At the moment I thought it would be a great experience, which it was. No matter what, with the outcome of the match, I would have gained a lot. I would have become a better player just from being in that situation.”

Woods was asked later if he was aware of the comment and replied, “Yes,” before the reporter finished asking the question.

As the question resumed, Woods simply said, “Next.”

Ancer, meanwhile, went 3-1-1 for the week, sharing with Sungjae Im the largest points contribution for the International team. He made a prophet out of Adam Scott, who said on the eve of Ancer’s first Presidents Cup, “I’ll be shocked if he’s not a big points-earner for us this week.” AP

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Business

Thursday, December 19, 2019

PACERS SNAP LAKERS

Jazz fan banned for taunting sues team

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ALT LAKE CITY—A Utah Jazz fan is suing for $100 million after being banned for life from the team’s arena over what were called racial taunts directed at point guard Russell Westbrook during a game.

Shane Keisel said there was nothing racial about his heckling during the game in March, and that the high-profile incident has cost him his job and exposed him to online threats, according to the suit filed Monday in a state court in Utah.

The Jazz, however, said the team investigated the episode that ignited a national conversation about race and fan behavior, and stands by the decision to bar him from the arena. The organization will “vigorously defend” itself from the lawsuit, said Frank Zang, senior vice president of communications for the Jazz parent company, Larry H. Miller Sports and Entertainment.

Westbrook was fined $25,000 by the National Basketball Association after video surfaced of him directing vulgar comments at Keisel in the crowd. Then a point guard for the Oklahoma City Thunder who had other in-game exchanges with fans, Westbrook was shown along the sideline using threatening language that also referred to Keisel’s girlfriend, who was at the game.

Westbrook said at the time that he had been provoked by the fan who told him to “get down on your knees like you used to.”

Westbrook said he would never abuse a woman, but that Keisel’s racial taunts went over the line, especially after past disrespectful comments from other Utah fans. His stance was backed by Jazz star Donovan Mitchell, who said it wasn’t the first time a racially motivated event occurred at a Jazz game.

The Jazz banned Keisel the day after the game, saying there is no room for personal attacks or disrespect.

In the lawsuit, Keisel acknowledged heckling Westbrook and telling him in a mocking way to “take care of his knees” because the point guard had them wrapped in towels while he sat on the bench. But he denies making the comment that Westbrook said he did.

Keisel is seeking a public apology, $68 million in damages for himself and $32 million for his girlfriend, who was with him. He sued the Utah Jazz and Westbrook, who now plays for the Houston Rockets.

A representative for Westbrook could not immediately be reached for comment early Tuesday. AP

STERN IN SERIOUS CONDITION N

EW YORK—Former National Basketball Association (NBA) Commissioner David Stern remains in serious condition following emergency brain surgery last week.

The league said on Tuesday that Stern is surrounded by his loved ones, and receiving great care. The NBA says both the league and Stern’s family appreciate the outpouring of support.

The 77-year-old Stern suffered a brain hemorrhage on Thursday while having lunch in New York.

Stern spent 30 years as NBA commissioner and has remained affiliated with the league, holding the title of commissioner emeritus. AP

ROAD STREAK AT 14 I NDIANAPOLIS—Malcolm Brogdon saw an opening and took it Tuesday night.

And just like that, the Los Angeles Lakers’ long-winning streak away from home was over.

Brogdon drove past Dwight Howard with 36.4 seconds left, scoring the tiebreaking basket on a nifty reverse lay-up to help the Indiana Pacers protect their home court with a 105-102 victory over the National Basketball Association’s best road team.

“We knew when we threw a punch, they would punch back,” Domantas Sabonis said. “We just stuck together.”

Eventually, the Pacers threw enough scoring jabs to earn their fourth straight victory—perhaps their most impressive all season.

The Lakers, 24-4, came into the game with the league’s best record and 14 straight wins on the road, the second-longest streak in franchise history and two wins short of their record-setting mark from 1971-72.

But even LeBron James couldn’t bail them out with All-Star forward Anthony Davis missing the game because of a sprained right ankle.

Yes, James scored 20 points and had nine rebounds and nine assists, but he missed a step-back 3-pointer with 11.7 seconds left that would have given the Lakers the lead. A replay review overturned a call and gave the Pacers the ball.

Sabonis then made 1 of 2 free throws to finish with 26 points and 10 rebounds.

Rajon Rondo and Kentavious

THE Pacers’ Malcolm Brogdon drives against the Lakers’ LeBron James. AP

Caldwell-Pope each missed a shot before time expired as the Lakers desperately tried to force overtime.

“Throughout the winning streak, we were able to keep our composure, whether we were up

or down, still being able to make a game of it, which we did tonight,” James said. “But sometimes, the ball doesn’t bounce your way.”

That was certainly true Tuesday.

After leading most of the first

half, the Lakers trailed most of the second half until a 9-0 spurt midway through the fourth quarter turned a five-point deficit into a 95-91 lead.

It didn’t last long.

Brogdon’s mid-range jumper with 2:20 left tied the score at 100. Myles Turner broke the tie by making two free throws with 1:59 left. Nineteen seconds later, James’s free throws tied it up again and that’s how it stayed, until Brogdon took matters into his own hands and charged right past Howard and deftly used the rim to protect the ball for the basket.

“We trust him with the ball in his hands, and he’s been making tough shots for us,” Sabonis said.

“He’s been big for us all year.”

Donovan Mitchell scored 30 points, including eight as the Utah Jazz closed the game with a 19-5 run for a 109-102 win over the Orlando Magic also on Tuesday night. With the Jazz trailing 97-90, Mitchell awoke a moribund offense and energized the crowd with a highlight-reel dunk in traffic. That sparked the clinching spurt for Utah, 16-11, which has won three in a row.

Bojan Bogdanovic scored 9 of his 30 points during the late surge, and Joe Ingles had 16 points and 12 rebounds.

DJ Augustin had 22 points off the bench and Evan Fournier added 19 for the Magic, who fell to 12-15.

After a 3-pointer by Ingles and a free throw by Ed Davis, the Jazz led, 82-65. But the Magic mounted a quick comeback against Utah’s

struggling bench players.

Fournier’s basket capped a 12-0 run to get the Magic to 82-77 early in the final quarter. Orlando then overcame an eight-point deficit to lead, 97-90, after a 15-0 spurt powered by Augustin’s seven points. Nikola Vucevic, in his second game back after an 11-game absence, had 12 points on fourfor-15 shooting. He grabbed 11 rebounds.

Mike Conley returned for the Jazz after missing five games with a tight hamstring, but left in the third quarter when the pain returned. He had seven points and six assists.

A game after hitting a seasonhigh 17 3-pointers, the Magic missed their first 10 attempts from beyond the arc and ended up seven for 35 from three-point range as they seemed reticent to challenge Rudy Gobert inside.

Gobert had a double-double by halftime with 10 points and 12 rebounds, as the Jazz built a 58-47 lead at the break.

One sequence typified the way the Jazz want to play. Mitchell drove the lane and passed the ball to Bogdanovic, who moved it to Royce O’Neale and around the three-point line to Ingles, who found Mitchell in the corner for an open three.

Ingles, who has primarily been a reserve this season, began starting when Conley was out, and has been scoring and shooting at a much higher clip. The Australian forward stayed in the starting lineup. AP

‘Ant-Man’ takes on challenge: Make hoops relevant at Georgia A THENS, Georgia—Football rules the athletic landscape at Georgia.

It would take a superhero to swipe away some of that attention.

Enter the “Ant Man.” Stopping off in Athens for a one-season lay-over on his way to the National Basketball Association (NBA), Anthony Edwards has readily accepted an enormous challenge: Make basketball relevant at the home of the Dawgs. “It’s just a great place, man,” Edwards said. “I felt the atmosphere and was like, ‘This is where I need to be.’”

Surprising words from a 6-foot-5 guard, who is projected as one of the top picks— perhaps even No. 1—in next year’s NBA draft.

He had his choice of blue-blood programs coming out of high school in Atlanta, including Kansas, Kentucky and North Carolina (NC).

Instead, Ant Man went with a team that lost 21 games last season—including a dismal 2-16 mark in the Southeastern Conference.

A school where football is king.

“I thought he was playing with me,” said senior Tyree Crump, who helped recruit Edwards and developed an instant rapport with him. “He was like, ‘No, I’m really coming to Georgia.’ That’s what we needed.”

Second-year Coach Tom Crean also knew how important it was to land a player of Edwards’s caliber.

Not just for what he could do on the court, but how he would change the perception of Georgia basketball for potential recruits in the years to come. “There’s no question it’s a huge thing,” Crean said. “It made being at Georgia cool.” With the NBA beckoning, Edwards’s time with the Bulldogs will surely be short.

After nine games, it’s not yet clear how lasting his mark will be on Georgia basketball.

Ant Man leads the team in scoring with a nearly 20-point average, but he’s not surrounded by as much talent as he would have been with the Jayhawks, or the Wildcats or the Tar Heels.

Georgia, 6-3, lost by 19 points to Dayton and is coming off a 20-point blowout at

Edwards who comes in like that, and he’s willing to cast his lot with you...that says a lot,” Crean said. “It can pay off for decades.”

Like most 18-year-olds, Edwards is focused on more immediate goals.

He’s working hard on his game, even if means staying on the court late into the night to get in some extra shooting. He wants to help the Bulldogs win this season. He wants to get ready for the NBA. “I don’t really feel any pressure,” Edwards said. “I just feel like this is what I do. I love it. I’m here.” AP

LET’S DRINK TO THAT!

C ANTHONY EDWARDS’S time with the Bulldogs will surely be short. AP

Arizona State. The Bulldogs’ other setback was to No. 15 Michigan State, but Edwards gave a tantalizing glimpse of his potential in that one, scoring 33 of his 37 points in the second half with a barrage of contested 3-pointers.

Edwards doesn’t want to be a one-man team. He tries to get those around him involved in the offense, a trait that has drawn some pushback from his coach.

“He needs to come in every day with an attack mentality,” Crean said. “You’ve got to take what the defense gives you but sometimes, when you’re talented like that, you have to attack a little bit more.” Though Edwards’s signing led to a boost in ticket sales for the basketball team, there’s no doubt that football still dominates on this campus—a gap that has only widened with Georgia making three straight appearances in the SEC championship game and climbing to the brink

of a national title during the 2017 season.

Basketball?

Georgia was a powerhouse in women’s hoops under long-time Coach Andy Landers, but the men’s program has recorded far fewer highlights. The Bulldogs are largely known as the school where Dominique Wilkins played for three seasons in the early 1980s, launching his high-flying, Hall of Fame career.

Wilkins retired from the NBA two years before Edwards was born.

“I don’t really know about him that much,” the freshman said, a bit sheepishly. “I hear people talk about his dunks and stuff, but other than that I don’t really know about him.”

Georgia’s lone Final Four appearance came in 1983, the year after Wilkins left for the NBA, but the Bulldogs became a mere afterthought when NC state won the title with its stunning upset of Houston’s Phi Slamma Jamma. Few

remember the Wolfpack beating Georgia, 6760, in the semifinals.

The most recent flirtation with greatness came under Jim Harrick nearly two decades ago, only to end in disgrace. An academic fraud scandal—epitomized by a ludicrously easy class taught by the coach’s son—brought down Harrick and left the Bulldogs reeling on a rebuilding path that largely continues to this day. Since Harrick was fired in 2003, Georgia has made only three appearances in the NCAA tournament—each a one-and-done showing.

Crean is hoping to reap the benefits of Edwards’s signing long after he’s gone. The state of Georgia has turned out an enormous amount of high-school talent, but most players decided to play elsewhere. Finally, there’s someone Crean can point to the next time he’s trying to sign a local fivestar prospect. “When you have an Anthony

OLUMBIA, South Carolina—South Carolina leaders have approved sale of alcohol to the general public at some sporting events.

The university’s board of trustees voted Tuesday to green light the sale of beer and wine at men’s and women’s basketball games starting in January, followed by baseball and football games.

Alcohol had previously been sold only in premium seating areas for those sports.

The school became the latest in the Southeastern Conference to back alcohol sales since the league rescinded its ban against the practice in May. South Carolina will sell beer and wine starting January 2 when the South Carolina women take on Kentucky. The first men’s game with booze available will be January 7 against Florida.

Sales will start at baseball on February 14, when the team opens the season against Holy Cross.

Sales at football games will begin when the Gamecocks open against Coastal Carolina on September 5.

The school initially held off on alcohol sales to see how things went at other SEC schools that approved the practice. AP

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ORDER OF LAPU-LAPU AWARD FOR ATHLETES

B FALLON SHERROCK is the first female darts player to beat a man. AP

FEMALE DARTER MAKES HISTORY

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ONDON—Fallon Sherrock became the first female darts player to beat a man at the PDC World Championship on Tuesday.

Sherrock, a former runner-up at the women’s world championship, recovered from losing the opening set to beat Ted Evetts, 3-2, in front of a raucous crowd at Alexandra Palace in London.

The Englishwoman made six 180s—a perfect score over three darts—and had a match average of 91.12 in their first-round match.

She clinched the victory with a second attempt at double 18.

Women’s world champion Mikuru Suzuki took James Richardson to a sudden-death leg in the fifth set before losing on Monday.

Three other women—Gayl King, Anastasia Dobromyslova and Lisa Ashton—have previously played matches at a PDC World Championship, darts’ flagship event. AP

ESIDES generous cash incentives from the Philippine Sports Commission (PSC) and President Duterte, the national team was conferred the “Order of Lapu-Lapu” for winning the overall championship in the 30th Southeast 30th Asian Games.

Almost 600 medalists from the SEA Games trooped to meet President Duterte in Malacañang on Wednesday to receive their cash rewards. But they got more as they were conferred the award that is given to individuals “deserving of merit and recognition, and to fully express the President’s

appreciation of the Filipino people’s contributions to the success of the campaigns and programs of the government.”

Led by Team Philippines Chef de Mission and PSC Chairman William Ramirez, the national team, donning their tracksuits, was warmly received, by the President at the Rizal Hall of Malacañang Palace.

Also in attendance were Executive Secretary Salvador Medialdea, Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino, Philippine SEA Games Organizing Committee Chairman and House Speaker Alan Peter Cayetano and PSC

Commissioners Celia Kiram, Arnold Agustin and Charles Maxey.

Presidents and secretariesgeneral of the different national sports associations joined the athletes.

Under Republic Act 10699 of the Athletics and Coaches Incentives Act, a gold medal fetches P300,000, silver P150,000 and bronze P60,000. The incentives—drawn from the Philippine Amusement and Gaming Corp.—for athletes reached P79 million.

Ramirez recognized the role of government in the SEA Games success saying “we are lucky to have a President who support us fully and

has a big heart for our athletes.”

“When we came in [the PSC], the athletes received a P5,000 meal allowance each. Now, on top of that, they also get P25,000 worth of nutrition support monthly,” said Ramirez, adding that these investments on the national team paid handsomely by the landslide win of Team Philippines in the SEA Games.

Pauline Lopez of taekwondo, Marck Jesus Espejo of volleyball and Jasmine Alkhaldi of swimming represented the gold, silver and bronze medalists, and received the check from the President in a ceremonial awarding.

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Thirdy Escano, who actually stopped counting the trophies of Southwoods which started playing in 1997.

“Uy could have done better. He thrives in this course. But then he is very underrated,” said Escano of his surprise top gun, who took the CJH course with a eight under, including what could be a best seven under on Day Two. He led the squad on day three with 33. His fever cost him the individual plum which went to Iwasaki, who celebrated his 22nd birthday on Tuesday. Aguri finished with 140 points, two better than Uy (138) and another two on compatriot Shimizu (136). Forest Hills managed a 111 for a 491, just two off Royal Northwoods as the two settled for second and third places, respectively.

Forest Hills was paced Rocky Co with 31, while Iñigo Raymundo, Dan Cruz and Jude Eustaquio counted with 29, 27 and 24, in that order.

Stephen Sul is the only player to break par with his 36 points to lead Northwoods to 114. Backing him are Nik Gatmaytan with 28, Joaquin Hernandez with 27 and Gido Mandanas with 21.

Team Time Cargo had 93 with former Southwoods stalwart Junjun Plana leading with 28 points. The team finished with 448 points.

Josh Jorge closed out a 36 to lead Southwoods

TESSA JAZMINES tessa4347@gmail.com

PART OF THE GAME

Christmas wishes

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’M leaving my laptop open so Santa can see. I have quite a few wishes that I have in my list and I really do wish they’ll come true—some day, if not soon. And they’re all about sports.

The recent 30th Southeast Asian Games was both an eye-opener and an inspiration that dreams do come true, even if they’ve been badly shattered before. Our fine showing certainly encourages us to look forward to

more gains and breakthroughs for our athletes, as well as Philippine sports in general. It also proved that winning as one is not just a slogan, it’s a real battle cry that we can use well beyond the SEA Games and its afterglow.

So here’s my wish list for Christmas 2019.

And I hope Santa stuffs my stockings with these goodies, most of them derived from the lessons and realizations that the SEA Games brought.

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Am squad with 119 and 463 total for a 29 point victory in Am Championship. Also, counting for Southwoods are: Jeff Jung and Masaichi Otake with 28 and Santino Laurel with 27. Ricky de los Santos led Batangas Barakos to 110 and 434 aggregate to bag second place, nine off Forest Hills which had 117 for 423. Islander Mizuno finished fourth with 407 after a 107.

Meanwhile, Ventureslink-Robros-Jayworx took the last day like a walk in the park nearly matching its day three total with an 88 for 397 total and a 13 point victory in Fil B. Baguio Country Club had a great escape after being outscored by Summit Point Golf and Country Club 88-87 in the last day of competition but still took the bridesmaid trophy with its 384 against the latter’s 383.

In Am B, Joseph Oliver Uy led a vicious fourth round attack and scored 30 to pace X1R Mizuno’s scorching closing round of 113 to tie third round leader Srixon with 382 points. But Mizuno took the champion’s trophy through countback when its fifth man, Raymond Co, who did not count, outpointed Srixon’s fifth, Bart Borja 21-15 to give the former the top podium. Srixon had a closing round of 103 tot ake second place, while Crown Legacy fell short of its own rally scoring 110 for a 381 total.

MEMBERS of Manila Southwoods (from left) team captain Thirdy Escano, Aidric Chan, Sean Ramos, individual champion Aguri Iwasaki, Taisei Shimizu and Lanz Uy—strike a championship pose.

1. UNITY FOR WOMEN’S VOLLEYBALL. There are two commercial leagues for Women’s Volleyball—the Philippine Super Liga and the Premier Volleyball League. Which means talent abounds in women’s volleyball. Yet, the women’s national volleyball team failed to podium in the 2019 SEAG. There are calls— from the Larong Volleyball sa Pilipinas Inc. Chairman Peter Cayco himself—for the two leagues to find common ground, cast their differences aside and work for the common good which is the improvement of the women’s national team program. We so agree.

2. A PRO LEAGUE FOR WOMEN’S BASKETBALL. Our women’s national basketball team is, in a word, wow. Composed of a mostly National University core that has gone undefeated for 96 games, the women put on a show and asserted dominance in the region with their SEA Games performance.

But sadly, after college, women ballers have nowhere to go. I share Gilas Pilipinas Coach Patrick Aquino’s wish for a female professional league where our talented and motivated Pinay players can showcase their talent and

inspire/empower more women to play the game.

3. A MEN’S VOLLEYBALL PRO LEAGUE. The Philippine Men’s Volleyball Team wowed the nation and showed everyone that not all the attention or support should go to the volleybelles. The men need not go abroad to play as imports in foreign teams, we can build them their stage right here. My wish is for our volleyball knights like Marck Jesus Espejo and Bryan Bagunas to keep wowing us with a league of their own on shore. Santa, prioritize this wish, please.

4. EQUAL IF NOT GREATER SUCCESS FOR OUR PARA-ATHLETES IN THE 10TH ASEAN PARA GAMES. It’s our para-athletes’ turn to shine in the same sports venues this January. When they joined the 2018 Asian Para Games in Jakarta, our para-athletes took home 10 gold, eight silver medals and 11 bronze medals to place the Philippines on the 11th spot overall from among 43 countries.

That was a big jump from their previous 21st placement. Now that the games are going to be held in Manila, we hope that our para

finish. They were just breaks of the game. Both squads are tough, talented and all out to win.

Azkals Coach Goran Milojevic said this is one of the best rosters to play for the country on the pitch, so there’s nothing to be ashamed of.

They’ll be back better and luckier. Same with the Malditas.

7. LESS POLITICS, MORE UNITY AND NATIONAL PRIDE IN SPORTS. Undoubtedly sports is a unifying force and a source of national pride. In the last SEA Games, politics, skepticism and a natural penchant for bickering preceded the opening of the Games and nearly distracted us from what was important. Politics has also gotten in the way of giving the athletes what was due them in the past, with politicians getting both the resources and the importance in previous campaigns. This time around, the athletes were up front and center, as they should be.

We look forward to a politics-free outlook toward sports and athletes in all platforms. Let us show our athletes the love and support they deserve. They will repay us with what they just showed us in SEA Games 2019.

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“We did better than in Game One. But it’s not over at this point, just the second game,” Coach Norman Black said.

“We had to win the game to tie the series up. We knew if we went down 2-0 it would be very tough to come back from that,” he added.

The TNT-Meralco series mirrors the Barangay Ginebra-NorthPort duel that has gone back and forth.

The imports are also as explosive. KJ McDaniels had a game-high 51 points to lead TNT, but he lacked the support from the locals as only Ray Parks Jr. reached double-digits with 12.

Quiet all night was Jayson Castro, who could only score from the free-throw line with his seven points. Roger Pogoy was also silenced and was scoreless in the game.

On Meralco’s side, Baser Amer contributed 20 points, while Bong Quinto added 12, all from 3-pointers. Chris Newsome tallied 11.

TNT’S Yousef Taha and Ray Parks Jr., and Meralco’s Baser Amer couldn’t control the ball.

Ramon Rafael Bonilla

Manila Southwoods bucks members’ illness, cruises to Fil-Am golf victory

ANILA Southwoods literally took a leisurely walk to the top of podium by closing out with a flight best 122—even with two of its members down with illness and one did not play—to claim its seventh straight title in the centerpiece Fil Championship of the 70th Fil-Am Invitational Golf Tournament at the Baguio Country Club on Wednesday.

And, it was again a double celebration for the Carmona (Cavite) squad as the Am Championship team also won at Camp John Hay. Make that a triple celebration for the tournament’s most decorated team with Aguri Iwasaki taking the top individual plum a day after his birthday.

On a day when surprise top man Lanz Uy woke up with a fever that made him weak to lift a club and its youngest member, Sean Ramos, had diarrhea, Southwoods played a four-man team for a closing round of 122 for 546 aggregate and a 55-point victory.

Taisei Shimizu led Southwoods with 34, Iwasaki had 32, while Aidric Chan improved to 31 and Uy managed a measly 25 for another dominating performance for the team. “These are very talented kids and they will surely adjust the next day. But then, some of them are just really sick,” said team captain

Deegan jumps to Ford to fast-track her racing career HARLOTTE, North Carolina—Hailie Deegan, a rising 18-year-old star in motorsports, was named a development driver with Ford Performance on Tuesday in a deal that could fast-track her progression into a Nascar national series.

Deegan spent the last two years as part of Toyota’s crowded development field before the switch. The partnership with Ford will give her numerous opportunities to race this season, including the full Arca schedule as well select sports car events in the IMSA Michelin Pilot Challenge.

Deegan in Arca will race for DGRCrosley, which last week became a Ford Performance team. She will drive a Mustang GT4 with Multimatic Motorsports in IMSA. “Hailie has shown in her brief time behind the wheel of a stock car that she’s got what it takes to be successful,” said Mark Rushbrook, global director of Ford Performance Motorsports. “Our goal is to put her on a path to realize our shared goal of winning championships and part of that is gaining experience on tracks, such as road courses and superspeedways.”

Deegan made Nascar history in 2018 when she became the first female driver to win a race in what was then called the K&N Pro Series West.

The California native has three wins in that series, now known as Arca Menards Series West, in two full seasons and she finished third in this year’s standings.

Deegan this year also made six Arca starts, with a best finish of fifth at Lucas Oil Raceway.

“It became clear quickly that I align with the Ford Performance vision of driver development and our shared drive to win,” Deegan said. “It is also extra special to get to race with Ford, a family company, that already had ties to my family. Growing up watching my dad race a Ford, and now to be able to do the same thing is very cool.”

Deegan has never raced a Ford competitively before, but her father, Brian, drove a Ford Fiesta in the Global Rallycross Championship and won a gold medal in the Rallycross competition at the X Games in 2011. He has also driven a Ford Raptor as part of the Lucas Oil Off-Road Series.

Deegan’s debut in a Ford will be during next month’s IMSA Roar Before the 24 test session at Daytona International Speedway.

It will be her preparation for the Michelin Pilot Challenge opener at Daytona on January 24, where she will partner with Chase Briscoe. AP

BOLTS, KATROPA TRY TO BREAK DEADLOCK ETTING aside corporate ties, TNT and Meralco try to break the deadlock in their seesaw Philippine Basketball Association Governors’ Cup best-of-five semifinals series on Thursday at the Smart Araneta Coliseum.

Two-time Best Import Allen Durham erupted with a triple-double to power the Bolts to a 114-94 win over their sister-team KaTropa and even the series at 1-1.

After TNT drew first blood with a 103-94 victory in Game One, Meralco immediately rose to the occasion and got into the groove to set up an interesting third match at 7 p.m.

Durham was all around the floor, submitting 44 points, nine rebounds and 11 assists to man the Bolts to their huge triumph against the favored KaTropa.

He dictated the pace right from the start, scoring 12 points as his team zoomed to a 3516 lead after the first quarter.

From there, Meralco went full power and never slowed down for a big 20-point win.

THE partnership with Ford will give Hailie Deegan numerous opportunities to race this season. AP

athletes—who compete against all odds— get the same support and enthusiasm from us sports fans. Their only wish is to make our country proud.

5. RESURGENCE IN BOWLING AND BILLIARDS.Bowling and billiards were two of the B’s that made us dominant in the three B’s: Bowling, Billards and Boxing. In SEA Games and Asian Games past, billards and bowling put us right there on the shiny medal tally.

But, this time around, we did not dominate in bowling (Senate Speaker Tito Sotto, a former national bowling team member) said our bowlers need to train more and bowling centers should be made more affordable so more can play the game. We won gold and silver in billiards, courtesy of Rubilen Amit and Chezka Centeno, but I guess we wanted more. Hoping that Santa find ways to make us reclaim these strong suits again soon.

6. MORE SUCCESS FOR OUR YOUNG AZKALS AND MALDITAS. Our young Azkals failed to make it to the semis in the SEA Games.

The Malditas lost a heartbreaking semis game to Vietnam and failed to achieve a podium

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Thursday, December 19, 2019

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OZIL TOLD: DON’T MIX FOOTBALL WITH POLITICS D LIVERPOOL players applaud to supporters at the end of their English League Cup quarterfinal against Aston Villa. AP

Youngest ever Liverpool team taken to school in League Cup

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IRMINGHAM, England—The youngest ever Liverpool team to play a competitive game was taken to school in the English League Cup quarterfinals on Tuesday.

With its best players in Qatar for the Club World Cup, Liverpool was forced to field its youngsters—with an average age of 19 years, 182 days—against Aston Villa and they were beaten 5-0.

Four of the goals came in the first half for Villa, which reached the last four of a competition it has won five times— most recently in 1996.

As for Liverpool, it was the club’s first domestic loss of the season and it was hardly unexpected given the circumstances.

An unusual fixture clash meant the Premier League leaders had to play two games in separate competitions in a 24-hour period on different continents.

So while Manager Jürgen Klopp and star players like Mohamed Salah, Sadio Mane and Virgil van Dijk headed to Qatar to play in the Club World Cup—a tournament featuring the winners of the various continental club titles—Liverpool had to scramble together a patched-up team full of youth players to play Villa in the League Cup. There were five players making their debuts in the senior team—one was forward Tom Hill, wearing No. 99 on the back of his jersey—while Neil Critchley, the coach of Liverpool’s under-23 team, replaced Klopp in the dugout. Speaking in Doha hours before kickoff, Klopp said he would be watching the game on TV with the senior players.

He would have been impressed with how his youngsters started as they swarmed all over a Villa side that also left out many of its first-choice players.

Liverpool didn’t take any of its chances, though, and was made to pay.

“For long periods, I thought we were well in the game,” Critchley said. “You get a harsh reality of the quality you are facing. We ran out of a little bit of legs and steam in the second half, which was understandable but it was an incredible night.

“I don’t think anyone wanted it to end.”

Villa’s first two goals were cruel on Liverpool. Conor Hourihane’s inswinging free kick missed everyone in the area and crept inside the far post in the 14th minute, before Ahmed Elmohamady sent in a right-wing cross that took a wicked deflection off Morgan Boyes, looped over the goalkeeper Caoimhin Kelleher, and dropped into the far corner to make it 2-0 three minutes later.

Striker Jonathan Kodjia added two more goals before halftime, in the 37th and 45th minutes, as Villa took advantage of some slack defending by Liverpool’s youngsters.

The visitors held their own in the second half until substitute Wesley Moraes added a fifth goal in injury time of a match that, for many critics, calls into question the integrity of the competition.

“It was probably a lose-lose [situation],” Hourihane said.

“Everybody expected us to win so we had to be professional and do our job.”

Critchley described it as an “enjoyably tough” occasion for his young team, and said Villa Manager Dean Smith and Assistant Coach John Terry—the former England captain—came into the locker room after the game to congratulate Liverpool’s players.

“They said how difficult we made it for them, that we have some really good players, to keep going and wished us all the best for the future,” Critchley said. “That will be a moment that I [will] remember and the players remember for the rest of our lives.”

The other three quarterfinal matches take place on Wednesday, with Manchester City continuing the defense of its title with an away match at third-tier Oxford.

Manchester United is at home to fourth-tier Colchester, while there is an all-Premier League match-up between Everton and Leicester. AP

B R H The Associated Press

OHA, Qatar—Arsenal forward Mesut Ozil should not have spoken out to denounce human rights in China, former Barcelona and Manchester City midfielder Yaya Toure said on Tuesday, fresh from a brief stint playing in the country.

Toure said that discussing the mass detention on Uighurs and others is “complicated” because he and Ozil are both Muslim, but took a different approach to the Arsenal midfielder over whether athletes should use their platforms to discuss political issues.

“Footballers have to stay with football and politicians to politics because you cannot be involved with this kind of things because it’s going to attract a lot of problems and a lot of things,” Toure said in an interview with The Associated Press. “As a Muslim, it is complicated and it is his choice. He’s been doing his comments but I think he was wrong to say that.”

Ozil’s criticism last week of Beijing’s crackdown on Muslims in Xinjiang led to Arsenal’s match being pulled from Chinese television. The Chinese government accused Ozil of being “blinded and misled” before protesting about mass detentions and the closure of mosques in the northwest region.

One politician who did weigh in to support Ozil was US Secretary of State Mike Pompeo.

“China’s Communist Party propaganda outlets can censor [Ozil] and Arsenal’s games all season long, but the truth will prevail,” Pompeo wrote on his US government Twitter account on Tuesday. “The CCP can’t hide its gross#HumanRightsviolations perpetrated against Uighurs and other religious faiths from the world.”

Toure, a former Ivory Coast international, has just completed five months playing at Chinese second-tier club Qingdao Huanghai. Toure’s comments on Ozil echo the stance of Arsenal, which said it “adheres to the principle of not being involved in politics.”

“I always love football,” Toure said during a trip to Qatar with Fifa for the Club World Cup, “and that’s why sometimes I don’t want to be political.”

Secret documents reported by the AP last month showed the Chinese government used mass surveillance and an integrated computing system to target pious Muslims and Uighurs who traveled abroad for detention in internment camps. China has been accused of detaining more than 1 million Uighurs and other

YAYA TOURE SAID THAT DISCUSSING THE MASS DETENTION ON UIGHURS AND OTHERS IS “COMPLICATED” BECAUSE HE AND MESUT OZIL ARE BOTH MUSLIM, BUT TOOK A DIFFERENT APPROACH TO THE ARSENAL MIDFIELDER OVER WHETHER ATHLETES SHOULD USE THEIR PLATFORMS TO DISCUSS POLITICAL ISSUES.

minorities in Xinjiang, and subjecting them to torture, beatings and food deprivation. The documents showed they were forced to learn Mandarin and Communist ideology.

In Doha, Qatar, Flamengo’ first trip to a Club World Cup will end in the final.

The South American champions came from behind to beat Al Hilal, 3-1, on Tuesday at Khalifa International Stadium on the outskirts of the Qatari capital Doha.

Brazil’s most popular club will find out on Wednesday whether it will face European champion Liverpool or Mexican

side Monterrey in Saturday’s final in the same venue.

It is one of the stadiums being used at the seven-team Club World Cup to test infrastructure in Qatar ahead of the 2022 World Cup for national teams.

Giorgian de Arrascaeta and Bruno Henrique turned around the semifinal for Flamengo after Salem Al-Dawsari gave Asian Champions League winner Al-Hilal a first-half lead. Ali Al-Bulaihi own goal confirmed Flamengo’ progress Flamengo met Liverpool in 1981 in the Intercontinental Cup, winning the now-defunct competition for the winners of the European Cup and Copa Libertadores.

Liverpool, which has never won the Club World Cup, reached this edition by winning a sixth European title in June.

“Is it the most important club competition in the world? I don’t know,” Liverpool Manager Jürgen Klopp said on Tuesday.

“It’s all winners from different competitions in a continent. So in Europe, obviously, everybody thinks the Champions League is the biggest competition, and ask the guys that play in the Concacaf.

Ask other players in Asia or wherever. Ask them. They have all their competitions.

“In Brazil, Flamengo celebrated the Copa Libertadores pretty intense, how I saw. So, we are here to represent Liverpool and Europe. That’s all [that] we do and we try that in the best way.”

An added complication for Liverpool was having to play a League Cup quarterfinal in England on Tuesday against Aston Villa with a weaker, young team losing 5-0 because the stars flew out to Doha.

While Liverpool is away for a round of Premier League games this weekend, it has the comfort of having a 10-point lead approaching the halfway point of its bid to end a three-decade domestic title drought.

Klopp steered clear of discussing human-rights issues that have dogged Qatar’s construction of facilities since winning the Fifa vote in 2010 to host the World Cup in 2022.

“I have to be influential in football but not in politics,” Klopp said. “Anything I say wouldn’t help, it would just create another headline, positive or negative. I like that you ask the question but I think I am the wrong person.

“Whoever is organizing the competition, wherever it is, they have to think about it. Athletes shouldn’t. We represent Liverpool, we are invited so we should go there. If sportsmen have to make a decision about a competition wherever it is in the world that is not right.”

DEFYING POLITICAL DIVIDE

V

ENEZUELA is the only South American country where baseball and not soccer is the No. 1 sport. Still, a group of fans calling themselves the “Red Demons” has dedicated 30 years to an undying passion for the Caracas Football Club.

Even amid Venezuela’s grinding economic and political crisis, the passion burns—and has even grown.

The Red Demons don’t care that most of their compatriots prefer baseball or that their team has a bad season.

Nor do they miss games, even when money is tight as their homeland experiences its worst ever economic slump, and one of the most serious in Latin America. The fans pinch and scrape to buy game tickets and to pay for trips that allow them to be close to their idols.

During the political confrontation also gripping Venezuela, it is common for the news to highlight the polarization between supporters of socialist President Nicolás Maduro and those of the opposition, led by Juan Guaidó.

But when the Caracas Football Club plays, its supporters leave their ideological preferences and socioeconomic differences behind, joining together to support and take care of each other inside and outside the stadium. They scream, jump and sing as one. They beat their chests in unison.

And the passion of the Red Demons did not lessen in the decade that their team was performing poorly. That loyalty finally paid off Sunday when the Caracas Football Club became champion of the Venezuela League.

The Red Demons now expect more victories, and they hope to continue growing and striving to offer a positive image whenever they can. They organize sports workshops, cultural events and offer hot food in poor neighborhoods of Caracas. AP

MEMBERS of the Caracas FC fan club, who call themselves the “Red Demons,” cheer amid a red flare as they attend the national league’s final championship match between Deportivo Tachira and Caracas FC at Estadio Olimpico as children play during a sports event organized by members of the Caracas FC soccer club, in Catia, one of the poorest slums in Caracas. AP

D

Just God

EAR God, You anoint Your Church to bring glad tidings to the poor, oppressed and all peoples. To You we humbly pray: Saving God, come to us. Let us reverence the Earth and see one another as brothers and sisters. Open our eyes to the beauty of Your law and the grandeur of the universe.

Deepen Your Church’s commitment to the poor and lowly, the generous and all-giving rich, the young and the elderly. May God enlighten our hearts and minds in Christ, that we may recognize ourselves in one another and live in harmony and peace. Amen.

GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

REELING: ‘CATHERINE THE GREAT’ AND THE NOT-SO GREAT SERIES D4

Thursday, December 19, 2019

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SAN Sebastian Church

FIVE MUST-VISIT CHURCHES IN MANILA FOR ‘SIMBANG GABI’

75 years on, ‘Battle of the Bulge’ memories bond people T

BY RAF CASERT The Associated Press

HIMISTER-CLERMONT, Belgium—As a schoolboy three quarters of a century ago, Marcel Schmetz would regularly see open trucks rumble past to a makeshift American cemetery—filled with bodies, some headless, some limbless, blood seeping from the vehicles onto the roads that the US soldiers had given their lives to liberate.

Sometimes, Schmetz said, there were over 200 bodies a day, casualties of one of the bloodiest and most important battles in World War II: “The Battle of the Bulge” which started 75 years ago on Monday and

effectively sealed the defeat of Nazi Germany.

“It gave me nightmares,” Schmetz said. It also gave the 11-year-old the resolve that, one day, he would give something back.

“I had to do something,” he said.

M&M FAST forward to 2019, when memories are fading and relations between Europe and the US deteriorating.

There’s a rambling house and converted warehouse in the bucolic, verdant hills that were once among the worst killing grounds of World War II. Zoom in to the living room table, where Marcel, 86, sits with his wife, Mathilde, and one of the many World War II veterans that have shared coffee and cake—and often a nip of

something stronger—with them, telling stories that span generations.

“Well, I don’t share them very often,” said Arthur Jacobson, who was just 20 when he fought in the Battle of the Bulge. “Once in a while, somebody is interested and I tell them a little bit.”

In Marcel and Mathilde’s home, which also serves as the Remember Museum 39-45, “a little bit” doesn’t count. Soon the former Bazooka operator was sharing stories of friends lost, ties gained, all between a chuckle and a moist eye.

For M&M, as the couple is known to fans from across the US, remembering has become a

IT’S such a treat to sleep in these days with the cool breeze of December mornings coming through the walls of our rooms.

But many Filipinos would surely brave the cold temperature to attend a Mass at four in the morning once the Simbang Gabi season begins.

Simbang Gabi is one of the favorite Filipino Christmas traditions which starts on December 16 and ends on the 24th—the eve of Christmas Day. Many locals believe that if you complete the nine dawn Masses, your prayers and wishes will be granted. But others troop to Churches to bond with their families and friends, and enjoy freshly cooked bibingka or puto bumbong after hearing the Mass.

If you’re in Manila, you’re in luck because of the abundance of churches, accessible by the LRT 1, you can visit for Simbang Gabi. Check out the top 5 picks of ikotMNL: ■ BACLARAN CHURCH. The National Shrine of Our Mother of Perpetual Help, more famously known as the Baclaran Church, is one of the oldest, historical, and go-to church for Simbang Gabi in southern Manila. The vast and towering cathedral is perfect for Christmas feels and vibes, and is easily accessed through the LRT 1 Baclaran station.

■ MALATE CHURCH. The beautiful stone-wrought Malate Church, also known as the Our Lady of Remedies Parish, is hard to miss—it’s still one of the most beautiful structures Malate. Just take the LRT 1 Quirino station for a quick ride to the church.

■ SAN SEBASTIAN CHURCH. Ever wanted to feel like you were going to Christmas Mass somewhere in Europe?

Look no further than the Basilica Menor de San Sebastian, also known as the San Sebastian Church. The historic and only all-steel church in the Philippines isn’t far from the LRT 1 Doroteo Jose station. It is also one of the most beautiful shrines you can visit in Manila.

■ SAN AGUSTIN CHURCH. Manila is not short on glorious churches, and two of them can be found inside our famous Walled City. Head to Intramuros via the LRT 1 Central Terminal and go to the San Agustin Church, one of the oldest and most popular parishes inside the historic city.

■ BINONDO CHURCH. Manila’s busiest shopping district is also home to another glorious minor basilica, the Binondo Church. For religious history buffs, it’s an important place for Filipino Christianity because its serves as the home parish of Filipino saint Lorenzo Ruiz. Get down at the LRT 1 Carriedo station and ride a tricycle going to Binondo to reach this Manila landmark.

Easily get around Manila when you download for free from App Store or Google Play the ikotMNL app to help you check the LRT 1 train schedule, crowd situation, advisories, and more.

CONTINUED ON D3

Experience ‘Frozen’-themed winter wonderland at HK FROM now until January 1, 2020, visit Hong Kong Disneyland Resort (HKDL, www.hongkongdisneyland.com) to celebrate “A Disney Christmas” and make holiday wishes come true in perfect Hong Kong-winter weather. With Frozen 2 now in theaters everywhere, Anna and Elsa will be bringing all the magic of Arendelle to make this Christmas truly unforgettable at HKDL. Be immersed into a winter wonderland at the “Frozen Fantasy Gardens Village,” where Anna, Elsa and their best pal, Olaf, will enchant guests and give them warm welcome during this festive season. Don’t miss their appearance at the truly amazing “A Magical Frozen Snowfall” show, during which guests can revel in the magic of their favorite songs.

Experience an authentic Christmas with the magical “Mickey and Friends Christmastime Ball” and the dazzling “A Holiday Wish-Come-True” Tree Lighting Ceremony complete with beautiful snow. Santa Mickey and Santa Stitch can’t wait to hear guests’ Christmas wish lists. Mickey and his pals, along with Duffy and Friends, will also be waiting to greet

guests around the park in their brand-new Christmas outfits.

With special hotel and park offers, Pinoy guests can enjoy a Christmas adorned with Disney magic including delicious treats and limited-edition merchandise at the nearest Disneyland resort to the Philippines.

Christmas festivities will be in full swing across the park and at all three themed hotels. Ongoing until December 26, hotel guests will be delighted by complimentary cookie, as well as unique Christmas towel art waiting in their rooms.

Families can also enjoy quality time together and create Christmas-themed arts and crafts, such as Christmas Mickey headbands or Olaf-themed sparkling Christmas cards.

Special Christmas activities will take place across all three hotels for families to indulge in authentic Christmas fun together. Join the Christmas Choir Team at the newest Nemo’s Recreation Reef at Disney Explorers Lodge, where kids can sing Christmas jingles.

For an unforgettable family experience, guests can reserve the Kingdom Club Cinderella Suite at the Hong Kong

Disneyland Hotel. With fairy-tale Cinderella-themed and pumpkin coach-inspired décor, guests will be immersed in a magical land where dreams come true. To complete your Frozen journey, check in at the Kingdom Club Frozen Suites.

With picturesque Frozen-inspired décor, guests will be immersed in the enchanted world of Anna and Elsa as they enjoy an unforgettable vacation. With personalized services available exclusively through the Kingdom Club, guests of all ages can make their dreams and fantasies a reality at HKDL. When Pinoy guests visit HKDL, they can also explore a new way to experience Hong Kong. Guests can shop for authentic Hong Kong souvenirs, or go on an adventure in the mountains and hike some of Hong Kong’s most beautiful family-friendly trails on Lantau Island, where HKDL is located.

Citygate Outlets, located at the city center of Tung Chung, has kicked off a new phase of growth, doubling the number of food and beverage outlets and increasing the number of retail brands. Pinoy guests will find with amazing deals and can feast on international cuisines.

D2

Thursday, December 19, 2019

Entertaining BusinessMirror

How not to ruin that pricey piece of meat in the holiday meal

N

z

By Katie Workman The Associated Press

OTHING says “celebration” like a ridiculously expensive piece of meat. Well, that’s not really true, but this is the time of year for splurging, in dollars and eating.

And with apologies to all the vegetarians out there, few things are as impressive an anchor to a festive meal than an extravagant cut of meat.

But boy, those prices can get up there, especially now that many consumers are trying to eat more responsibly by buying meat that is grass-fed, pastureraised and ethically handled. Even if you’re buying a more traditionally produced piece of meat, you still might be paying $29.99 per pound for a filet mignon beef roast or $18 per pound for a standing rib roast.

So, you do not want to mess this up.

It can be nerve-wracking cooking a piece of meat on which you spent a small fortune. Some tips from the experts: n THE COOKING METHOD. For expensive, large cuts of meat, roasting is usually the answer. The dry heat method caramelizes the exterior and allows for even cooking throughout.

“We use classic roasting techniques, i.e., no sous vide or other New Age methods,” says Michael Lomonaco, who knows his way around pricey cuts of meat as chef and partner of Porter House Bar and Grill in New York.

Don’t complicate things during the holidays, he adds; he opts for a timeless prime rib.

Fat is your friend when it comes to splurgy cuts of meat. That’s why Antimo DiMeo, executive chef of Bardea Food and Drink in Wilmington, Delaware, also likes prime rib for the holidays.

“It provides a lot of great fat marbling that responds well to slow roasting,” he says.

Lomonaco suggests placing the roast fat side up so the fat bastes the meat as it cooks. Pick a cut with a generous amount of fat, and ask your butcher to help you pick the choicest one. n BRING THE MEAT TO ROOM TEMPERATURE. That way the outside won’t cook too quickly while the inside is still losing its chill. n COOKING TEMPERATURE. Some people sear the meat first, some cook it slow and steady, some switch from high to low heat during roasting. Find a recipe from a reliable source and follow it precisely. And make sure the oven is fully preheated before you put the meat in.

Two important points: First, use a meat thermometer. It’s really the only way to make sure you’re removing your meat from the oven at exactly the right moment. Insert the internal thermometer into the meat’s thickest point, making sure it’s not touching any bone. There are a variety of internal thermometers available, from ones you can

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Marla Sokoloff, 39; Jake Gyllenhaal, 39; Alyssa Milano, 47; Tyson Beckford, 49.

Happy Birthday: Everything has a place. It’s time to put things away—to compartmentalize emotionally, mentally and physically. Prepare, and when the time comes, you’ll be ready to participate. It’s time to work on you, your happiness and your future. A lifestyle change will encourage you to learn something new and to take better care of your health. Your lucky numbers are 4, 15, 22, 27, 29, 36, 47, 49.

a

ARIES (March 21-April 19): Too much of anything will lead to overreacting. Use intelligence to sort through concerning situations. Don’t buy into what someone else wants you to do. Simply say no, and move on to what suits you best. Choose romance over discord. HHH

b

TAURUS (April 20-May 20): A change may be right for you, but if it doesn’t work for everyone else, you’ll be faced with opposition. Be willing to compromise, and be ready to offer incentives that will help you get your way. Surround yourself with supportive people. HHH

c

GEMINI (May 21-June 20): You can have fun without being extravagant. If you shop, look for bargains and choose items that you can afford.

It’s lovely to be generous at this time of the year, but not at the expense of added stress. Romance is featured.

HHHHH

d

CANCER (June 21-July 22): Situations will get blown out of proportion. Family dynamics will leave you in a delicate position. If you overreact, you’ll have regrets. Gifts you create on a shoestring budget will be treasured by those on the receiving end. HH

e

LEO (July 23-Aug. 22): Don’t let anger set in because time is running out. Do your best to prepare, but don’t try to do the impossible. Delegate chores to others so that everyone, including you, can enjoy more quality time together. HH

f

check remotely to instant-read versions.

Second, allow for carryover cooking. Almost all foods continue to cook after they have been removed from direct heat, and the internal temperature will continue to rise. If you want your roast, whether beef or lamb, to be rare or medium rare, which would be an internal temperature of 125°F to 130°F, then take it out of the oven when the internal temperature reaches 120°F. This is also true for other cuts, such as steaks and rack of lamb.

Lomonaco likes to roast his prime rib at 350°F. DiMeo sears his first in a very hot (500°F) oven to give it a nicely browned crust, and then lowers the heat to 350°F and cooks it low and slow for two to three hours (depending on size), basting often to keep it moist and tender. Both chefs pull the meat from the oven when its internal temperature reaches 120°F. n LET THE MEAT REST BEFORE CUTTING. There are

two reasons to let the meat sit after cooking. First, for carryover cooking. Second, because the fibers of the protein change while the meat is cooking, and need to relax post-cooking in order to reabsorb the juices.

If you’ve ever cut open a leg of lamb or a steak to see perfectly rosy meat and lovely juices, only to have the meat turn tough and grayer a bit later, that’s because you cut into it too early. The juices ran out of the meat onto the cutting board. So be patient.

For a prime rib, for example, Lomonaco says it’s crucial to let it rest for 30 minutes before carving.

Smaller cuts of meat don’t need to sit as long—maybe 10 minutes for a 1 1/2-inch-thick steak. Legs of lamb should also sit for 20 to 30 minutes.

So, while paying for the holiday table’s meat might make you gasp, you should breathe easily when serving it up, perfectly cooked, to admiring family and friends. n

Popeyes opens in MOA AMERICA’S favorite fried chicken, Popeyes, continues to expand as it launched its newest restaurant at the National University Mall of Asia.

Now with five stores in Metro Manila, more Filipinos can get a taste of Popeyes’s world-famous Cajun flavors and feast on its must-try menu items, such as the iconic honey biscuits, burgers and fries. Diners also got a taste of other treats like the hazelnut and white chocolate biscuits, as well as the Popeyes spaghetti which is

www.businessmirror.com.ph

VIRGO (Aug. 23-Sept. 22): Do something beautiful for others. Sharing will make you feel good about who you are and what you have. Refuse to let someone rain on your parade because he or she isn’t as generous or kind as you. Be a good Samaritan. HHH

g

LIBRA (Sept. 23-Oct. 22): Make travel plans to visit someone who stimulates your mind and encourages you to go after your goals.

Learn by watching what others do and how they react.

Knowledge is the route to enlightenment. HHH

h

SCORPIO (Oct. 23-Nov. 21): Take charge and get things done. Be creative, come up with solutions and be the one to save the day. Your enthusiasm and energy will be infectious and prompt others to join in and help. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Touch base with someone you may not get to see before the festive break. Sharing a little cheer will lift your spirits and encourage you to make some resolutions to put into practice sooner rather than later.

Gather facts, and proceed with confidence. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Silence is golden. When in doubt, or if you’re feeling emotionally drained, you are best to say little, listen carefully and focus on making the adjustments that will help you regain the energy required to get through the year-end festivities. HH

k

exclusive to Popeyes’s branches in the Philippines.

For a dining experience like no other, diners can replace the gravy and pair Popeyes signature Cajun fried chicken with a dash of honey for a delightful sweet and salty combination. Shown in photo are (from left) Kuya J Group COO Gretz Rivera, NU Mall of Asia AVP of Operations Royston Cabuñag, Popeyes Philippines COO Rami Chahwan and Kuya J Group Marketing Director Ton Gatmaitan.

AQUARIUS (Jan. 20-Feb. 18): A quick change made when under stress or anger will not help you get ahead. Relax, stay calm and think matters through. Patience will lead to clarity and help you make sound decisions. Concentrate on personal improvements, not what others do. HHHHH

l

PISCES (Feb. 19-March 20): Sign up at your local soup kitchen or volunteer to help a committee that you feel addresses your concerns. What you offer will lead to new friendships, opportunities and a change in the way you live. HHH Birthday Baby: You are charismatic, imaginative and proactive.

You are outgoing and flexible.

‘cover letters’ by ed sessa The Universal Crossword/Edited by David Steinberg

ACROSS 1 Often-wooden peg 6 ___ Major (Big Dipper’s constellation) 10 U-turn from ENE 13 Birthplace of St. Teresa 14 Lively dances 16 Yes, in Kyoto 17 Name that anagrams to “snide” 18 WNBA star Elena ___ Donne 19 Getting on in years 20 Biblical flood shelter 21 Baked fish dish (first 2 letters + last 3) 24 D-Day’s conflict, briefly 26 GPS maker 27 Roll in a squad car? (first 1 + last 3) 32 Ones on deck 33 Crop up 34 Works on a comic book 35 Dallas NBAer 36 World capital where you may eat alpaca steak 40 Way to go 42 Croc’s relative

3 Friday’s companion (first 3 + last 1) 4 47 Holiday Inn alternative 48 Ethiopian princess in a Verdi opera 49 Terror-stricken (first 4 + last 1) 53 Bowl-shaped cooker 56 Champagne export 57 Used a potato gizmo 58 Anklebones 60 Shar-___ 61 Word with “fries” or “potatoes” 62 Praise to the skies 63 ICU attendants 64 Gardner with many plots 65 Rail terminal DOWN 1 Baby’s pop 2 Once more 3 (Not really!)

4 Giant Manning 5 Scottish girls 6 One of Pakistan’s official languages 7 Coral structure 8 Start to “starter” 9 Asserts without proof

0 ___! (There It Is) (1993 hit) 1 11 ___ Mae (student loan agency) 12 Expand, as a highway 15 Calm and quiet 22 “___ the season...”

23 Mexican Mrs. 25 Modern warfare threats, briefly 27 Greek X 28 Vied for public office 29 The Stranger author Albert 30 Love poetry Muse 31 David who played Bond 36 Praise to the skies 37 Director’s cry, or a hint to this puzzle’s theme 38 “How now, brown cow?” response 39 “___ we clear?”

40 Equestrians 41 Abrupt way to stop or turn 42 Pulled a scam on 43 More risque 44 Muscat natives 45 Common setting for a joke 46 Half-___ (latte order)

7 Answered an invite 4 50 Mark on Harry Potter’s forehead 51 Tattle 52 Twiddling one’s thumbs 54 Nobel Peace Prize city 55 Eartha who portrayed Catwoman 59 Fir feller: Var.

Solution to yesterday’s puzzle:

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Parentlife BusinessMirror

Thursday, December 19, 2019

D3

SEA Games, celebrations, and thank you, My Rock Clockwise: Meagan with SEA Games Individual Women Sabre Gold Medalist, Jylyn Nicanor; Meagan with her coach, Team Men’s Sabre Bronze Medalist Eric Brando; Marcus at the finals of the SEA Games basketball game; me with my law school classmates; and Vinson and I with the newly married couple, Mr. and Mrs. Ian Dato.

mommy no limits

maye yao co say

mommynolimits@gmail.com

I

T is midway through December and there have been so many things to be grateful for already. I will start with these great events below: I am not an avid sports fan. My dad used to bring me to basketball games at his alma mater, Chiang Kai Shek, in the 1980s. I played in the volleyball team in Grade 6 but that was it. My husband has been the big influence in sports for my kids. He has always shared to my kids how he would practice basketball two hours in the morning and two hours in the afternoon every day when he was in grade school. He swam from Grade 4 to college. He also played tennis and, later on, badminton. He has been a triathlete for more than a decade.

I admire how he makes my kids love sports in a non-“coachy” way. He never believed in introducing sports in the preschool years. He just plays with them casually. He would swim and bike with them for fun during weekends. As they got older, he would challenge them to initiate practice time with him.

Today, Meagan is part of her school’s basketball team and is part of a fencing club outside of school. Marcus is into futsal, basketball and also part of fencing.

Last week, they were able to garner medals from The Young Musketeers competition.

My view on sports changed drastically because of the recently held 30th Southeast Asian Games in the Philippines.

The SEA Games is joined by 11 countries, including Brunei Darussalam, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Lao PDR, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

It is composed of 56 sports competitions, with various sports variations, namely Archery, Arnis, Athletics, Badminton, Baseball, Basketball (5x5 and 3x3), Billiards, Bowling, Boxing, Canoe/Kayak/ Traditional boat race, Chess, Cycling, Dancesport, Diving, Duathlon, eSports, Fencing, Football, Floorball, Golf, Gymnastics, Beach Handball, Ice Hockey, Ice Figure Skating, Indoor hockey, Judo, Jiu-jitsu, Karate, Kickboxing, Kurash, Lawn bowls/ Petanque, Muaythai, Modern Pentathlon, Netball, Obstacle Racing, Pencak Silat, Polo, Rowing, Rugby sevens, Sailing, Sambo, Sepak takraw, Shooting, Skateboarding, Soft tennis, Softball, Squash, Surfing, Swimming, Table Tennis, Taekwondo, Tennis, Triathlon, Underwater Hockey, Volleyball, Waterskiing, Water Polo, Weightlifting, Wrestling and Wushu.

I read and saw the challenges of our country’s

preparation. But because my kids’ coaches in fencing are also part of the RP team, I had a preview on the different level of preparation athletes did this time around. My elation grew when I heard Meagan’s SEA Games stories. She was very lucky to have been invited as work force at the SEA Games even though she was under 18. This was a result of her national ranking of 3 for her age group. She shared how proud she was of her coaches who won bronze in the Men’s Sabre Team competition. She felt so lucky to have been assigned to assist Jylyn Nicanor, who won the individual Women’s Sabre Gold Medal, because this was Meagan’s weapon also. More than that, she was able to meet so many great athletes in Asia, which inspired her even more to practice harder.

I cannot help but hope that the Philippines’s top ranking in garnering 387 medals, with 149 Golds,

117 Silvers and 121 Bronzes, may fuel our country to a stronger commitment to claim a better place in Southeast Asia.

On December 8, we attended the intimate and memorable wedding celebration of Ian Dato and Giorgia Guidicelli. Ian and I were good friends in law school, and my husband is a friend through their common sport of triathlon.

Giorgia’s vows struck me. She said she made a list of nonnegotiable character traits for her future husband and she prayed for “The One.” It came in a nice blessed package of a determined lawyer from Samar. It was such a beautiful wedding, from Sarah Geronimo and Matteo’s heartfelt songs to the good vibes of solid relationships from friends, relatives and especially from their immediate family. As I listened to Ian’s sister talk about how he would always put his

mom’s needs first, I am grateful that God truly blesses good people.

Most important, today marks my 15th wedding anniversary with my husband. My daughter teased me about how I still needed to compute how long we have been married for this column. I guess in many ways my husband and I are still in constant discovery.

We have laughed a lot, argued intensely, faced defeat, tried new things and became two morphed individuals, both distinct but united in our goal to live benevolent lives. My husband does not like accolades, so I will keep it short.

Thank you, Vinson, for always putting my interest first. Thank you for always supporting me, especially in my recent pursuit to be a teacher. You have been “My Kismet” who sees my worth beyond my own lens.

Most of all, thank you for being my rock. n

75 years on, ‘Battle of the Bulge’ memories bond people Continued from D1 mission in life, since memory brings understanding and friendship.

They are not alone. From the shores of Normandy, where the allies first landed on D-Day, to the forests deep in the Belgian Ardennes, there remains a deep appreciation for what the soldiers did.

Yet, those people live on the scar tissue of war, where battlefields, memorials and cemeteries lie just a few miles away. That memory fades quickly the more one moves from the old front lines to European cities, where peace and prosperity has reigned for the best part of a century. The voices of the last witnesses of the war’s fighting, mostly in their 90s now, are also becoming frailer by the day.

And with the growing questioning of transAtlantic ties and trust, the challenge to keep those bonds across the ocean intact has increased.

It makes Marcel and Mathilde’s mission to connect all the more vital.

“Whoever is your president, whoever runs the show, the boys who were on the front lines, who still go out and fight for our freedoms, they need to know we appreciate them,” Mathilde said.

IT GIVES ME GOOSEBUMPS Lt. Col. Jim Moretti of the 171st Air Refueling Wing knows it well, and whenever he is in Germany on a mission he always makes the pilgrimage to Marcel and Mathilde just across the border.

The first time he thought to spend perhaps half an hour in their small museum. Then, he found out that the hardware sinks into insignificance compared

to the software of the place—the stories which are linked to every item on show. “We ended up being there for three, four, five hours,” he said.

Mathilde connects a face in a photograph to a veteran she met years ago, and still remembers the story that makes it all relevant to the families of the fallen. “It gives me goosebumps. It’s sobering, humbling,” Moretti said.

It became even better when he was able to be part of such a story himself.

THE SMALLEST OF THINGS Soft-spoken local policeman Serge Fafchamps had something troubling him for a while. Through his family, he obtained a fist-sized Bible that had been left behind by Pvt. Millard Weekley in a local hotel during the war, likely in the rush to reach the front line.

Like so many locals, Fafchamps is strongly aware of the sacrifices US soldiers made during World War II and wanted to make a gesture, however small, to show that in the 21st century it was not forgotten.

“It was, I think, the smallest of things, it was a friendly act that I hoped would deliver some happiness to the family,” he said.

Even though he got close to finding the family, there was still a missing link, and he long thought he had reached a dead end. Then, by chance, he learned of Marcel and Mathilde. Soon, they were on the case.

“I began to make these searches with the help of American friends,” Mathilde said. “Then, finally, someone found the daughter,” Paula Ferrell.

But they still needed someone to deliver the Bible, in person. So in walked Moretti, who saw, as luck

would have it, that Ferrell lived close to his airbase in Coraopolis, Pennsylvania.

“Of all the places in the US, this could not be true,” Moretti said.

And one Sunday on the airbase, Ferrell and her family were handed the Bible.

“It was an amazing idea. I am so thankful for that,” Ferrell said of Fafchamps’s kindness. Now the Bible sits on a night table next to her bed, the handwriting on the opening page a palpable memory of a father who was always taciturn when it came to war stories and memories. “He never talked about it. He was a man of few words,” she said.

A new bond had been forged across the ocean. “If he was here, I’d give him a hug,” she said of Fafchamps.

The policeman himself said it gave him “a sense of mission accomplished.”

IT IS NOT TO FORGET THEM THE mission though, is getting tougher by the day.

Perhaps, the best part of the museum is a “Red Ball Express” army supply truck, on which countless veterans have written their names. Ever more though, the owners of the white-painted signatures are dying off. Just this week, Mathilde opened a letter informing her of yet another death.

Marcel, ever the optimist, is looking to a new generation of US troops, soldiers like Moretti, to carry on the torch.

“When I look at the young soldiers who are on US bases in Germany,” he said, “it always reminds me of the arrival of the Americans in 1944,” who had come to liberate him and his family. “It is not to forget them.

It is not to forget them, no?” n

Unicef partners with Zamboanga City to uphold children’s rights THE local government unit (LGU) of Zamboanga City inked a memorandum of understanding (MOU) with the United Nations Children’s Fund (Unicef) for the implementation of projects that would further strengthen results for children through integrated and sustainable programming, and strategic reforms and policies for the most disadvantaged and vulnerable communities.

“I am pleased to have signed the MOU between Unicef and Zamboanga City for 2019-2023 with Mayor Isabelle ‘Beng’ Climaco. Zamboanga is a priority LGU for Unicef. I look forward to delivering effective and sustained results for children,” said Oyun Dendevnorov, Unicef Philippines representative.

In the photo are Mayor Climaco (left) and Unicef’s Dendevnorov.

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Show BusinessMirror

Thursday, December 19, 2019

www.businessmirror.com.ph

‘Catherine the Great’ and the not-so great series REELING

TITO GENOVA VALIENTE CHRISTMAS has come early for Mariah Carey: the pop star’s original holiday classic, “All I Want for Christmas Is You,” has reached the No. 1 spot on the Billboard Hot 100 chart 25 years after its release. AP

25 years later, Mariah Carey’s Christmas original is No. 1 NEW YORK—Christmas has come early for Mariah Carey: the pop star’s original holiday classic, “All I Want for Christmas Is You,” has reached the No. 1 spot on the Billboard Hot 100 chart 25 years after its release.

Billboard announced that the song topped this week’s chart, giving Carey her 19th No. 1 of her career.

She is only behind The Beatles, who have had 20 songs top the Hot 100 chart.

Each holiday season, Carey’s “All I Want for Christmas Is You” begins to climb the Billboard charts as its popularity resurfaces. Last year, the song hit a peak at No. 3 and set a new one-day streaming record on Spotify.

“All I Want for Christmas Is You” is the first holiday song to top the Hot 100 chart since “The Chipmunk Song” in 1958-59.

The song is from Carey’s 1994 album, Merry Christmas, which is currently No. 1 on the Billboard R&B albums chart. Carey wrapped her All I Want for Christmas Is You Tour on Sunday at New York’s Madison Square Garden. AP

OKADA MANILA’S ‘NEW YEAR’S EVE GOLD RUSH’ MANILA’S iconic ultra-luxury integrated resort, Okada Manila, will hold its annual New Year’s Eve countdown this December 31. Aptly titled “NYE Countdown 2020: New Year’s Eve Gold Rush,” this property-wide celebration will feature world-class performances by some of entertainment’s most sought-after and brightest stars.

Fresh from her electrifying SEA Games performance, singer and rapper KZ Tandingan shares her excitement in being one of the headliners for The 24 Karat Countdown: An Extraordinary Concert, which will be held at Okada Manila’s Grand Ballroom.

“I’m honored and excited to be part of Okada Manila’s NYE event. This is the first time I’ll be doing an NYE concert and I’m happy that it’s with Okada Manila. I’m really looking forward to performing alongside talented and world-class performers. What a way to welcome 2020!” Tandingan enthuses.

Joining her for The 24 Karat Countdown is a group of some of the finest powerhouse artists: The Company, Liezel Garcia, Erik Santos, Angeline Quinto, Jayson Dee and the Okada Manila Entertainment Group. For Cove Manila All Stars, international Grammy Awardwinning artist CeeLo Green will be kicking off the Ultimate Party of the Year. Party people will also enjoy sets by DJ Solal, DJ Kaka, DJ Sesco, DJ Migs Santillan and DJ Marc Marasigan.

At the Fountain Stage, guests will be enthralled by the performances of Bugoy Drilon, Daryl Ong and Michael Panglinan. To make the festivities bigger, there will also be a grand fireworks display, a beam light show and more live music. Those at the Crystal Corridor will also witness the NYE Golden Parade led by the Okada Manila Entertainment Group. Street performers and live bands will also be there for an even more memorable NYE celebration.

At Manila’s iconic ultra-luxury integrated resort, those looking to celebrate the New Year in the biggest, grandest way can also feast on a sumptuous dinner buffet and free-flowing beverages.

Visit www.okadamnl.ph/NYE2020 for more updates.

titovaliente@yahoo.com

I

ALWAYS have problems with introductions.

This crisis once more came up when I started following the TV series Catherine the Great.

The Sky Atlantic and HBO Miniseries in four parts always begins with a red cloth imbued with the grave weight of velvet floating in the dense space. It swims against a current that is part ocean, part wind.

A huge boat courses from the distance and one senses a foreboding if, at this point, one does not feel yet the heavy air around. The screen starts to look like a faded canvass, with scratches and fading areas. Then the same red that envelopes the horizon gets smaller: it is a curtain that begins to close.

As the scene unfolds, a massive male chorus pushed by the dark tone of an orchestra heaves to cast upon us all the pall of a tragic theme. This is a tragedy and you better be prepared, the music stresses over and over again.

But it is a strong opening, an introduction that promises grandeur no less. Then the action begins, and we realize the screen has become a small frame.

What the somber, but grand opening, that seems to prepare us turns out to be a “personal” drama.

I understand the point of the personal over the “historical epic.” This Catherine is not about a sex-starved empress who commands her whole army to service her. This is an up-close visit to the life of Catherine the Great in and out of her boudoir and her closet.

History, that ever male-ordained narrative about the past, has painted Catherine the Great as such: a woman who uses and exploits male pulchritude as her own personal gift to herself.

And yet, when we peruse the life of this empress, we encounter outside the sexual bedroom or chamber romps a woman who puts into her own hand her destiny. Married to a monarch she has always despised because he was ugly (we would prefer this as the valid excuse), we never consider other options.

That perhaps the husband is one that batters the wife is never, and was never, a historical fact that history buffs ever entertain.

But this woman who builds out of the many lands around the completion of an empire, is also the same woman maligned for her sexual bouts. For the sake of discussion, if an empress can successfully generate such energy as to form an empire in a limited period of time, then the cautionary tale about the sordidness of sex in one’s life is wrong.

What this film/miniseries offers is a way of appraising female rulers. If we are to go to the side of Catherine the Great, we hear an altogether different story. She was no “nymphomaniac.” The label anyway has been discredited, and is merely used for lack of a better term to employ.

The decision to allow the woman in Catherine the Great to speak enables us to listen, perhaps for the first time, a different view of this empress. That she uses men for sex and that we are shocked to hear that is no more a statement against Catherine the Great than it is an indictment of how sexist and bigoted

we all are. Granted that she has at one time been “serviced” by an entire squad or company is no more an absurd claim than it is a bias against powerful women in general.

This new perspective on the life of Catherine the Great comes to the fore in a scene with one of the young generals, Panin. Already attracted to each other, the empress invites Panin to her room. There, they promise to confess to each other truths about their person, i.e., sexual proclivities. Catherine laughs at the number the man has in his mind with regards to the number of men in her life. She has a few.

Indeed, if we are to follow the narrative of this miniseries, the notion of a woman in power cannot be admitted if we do not make that woman a sex-starved, ball-busting monster. But formal histories look back at us, and we find a woman who has expanded the territories of Russia by conquest and diplomatic strategies, attempted to address the problem of slavery in the country, built an empire that is not only excelling in the arts of war, but in arts, as well. At the end of her reign, Catherine the Great has brought Russia to the level respected by the rest of Europe. Not bad for an unpopular leader.

But if we are to look for the greatness of Catherine the Great, the miniseries, then it is not in the visuals of a gilded Russia, but in the intimate portrait painted for us by this great actor, Helen Mirren. She who has made a small cottage industry out of portraying queens (her Queen Elizabeth on television and on film are prime models) now tackles the Russian empress whose reputation does precede any memory of her.

As Catherine the Great, Helen Mirren is

formidable and vulnerable. For all her imperious power, she often wonders why people do not seem to trust her. More than that, there are occasions in the film when a general or a factotum does not bother to wait for the command to take a seat. Even her first daughter-in-law does not bow to her, this she notices.

For all the claim that this film will rectify any biases we have against Catherine, the biopic could not avoid the sensational aspect of a queen who orders men to be her lover. Not that men would not oblige—there are the dangling promises of a villa, a pension and a top position in the line of command or bureaucracy. What saves these affairs from being mere capricious dalliances are the struggles of an empress whose primal fear is not being deposed, but being in love!

The other actors/characters in this narrative are lovers, and pawns and ambitious generals.

Grigory Potemkin played with such braggadocio

by Jason Clarke builds cities for Catherine. Kevin McNally as Alexei Orlov, the one who led the coup d’etat that toppled Tsar Peter III and secured the throne for Catherine, is pathetic and handsome and, finally, useless. The rest of the actors playing lovers are forgettable because Mirren is the unforgettable greatness.

There will, in the end therefore, be two sets of audiences of Catherine the Great: those who get an arousal from a telling of history in terms of magisterial markers and battles, and those who want an entry into the private space of a woman whose claim to fame is that of confronting the practice of slavery in Russia. In the end; history is boring, and serfdom is even more boring than sex. ■

Alice Dixson Celebrity Super Bowl raises funds for Kalipay Negrense Foundation

BY LEONY R. GARCIA ALICE DIXSON has raised funds for the third year to benefit the children of the Kalipay Negrense Foundation through her charity.

The fund-raising event took place at the SM Megamall Bowling Center at 10 am last December 8. Celebrity friends and supporters came in full support and bowled, including James Younghusband, James Deakin, Ali Sotto, Iza Calzado and husband Ben Wintle, Tim Yap, Ynez Veneracion, Karylle and husband Yael Yuzon, Julia Barretto, Jackie Aquino, Gladys Reyes, Radha, Donita Rose, Ara San Agustin, Teresa Loyzaga and many others.

The players were dressed in their most comfy outfits of shorts, skort, jeans, leggings plus the tournament official shirt, and did practice bowl before the qualifying round started at 11 am. With 14 teams all, the seven

teams with highest scores advanced to finals by noon. Finally, those with the highest combined individual scores won prizes: first placers were awarded a two-night stay in Club Agutaya, Palawan; second placers got a twonight stay in Dakak/Villa Angelina in Dapitan; and third placers won luggage from Delsey.

It was fun to see the celebs receive

their prizes by 1 pm. They were jumping with joy with the prizes and special prizes of various gift certificates from sponsors.

The first and second of Dixson’s charity bowl was a huge success, with many publications covering it and many media personalities attending it, raising over P200,ooo and P700,000, respectively, to provide shelter,

food, health care and counseling for the many homeless, physically and sexually abused, malnourished, out-ofschool and special children in Negros Occidental.

Dixson, who recently starred in the movie Nuuk with Aga Muchlach, is known for hosting many fundraising events to serve various charities. But she said her heart is set on helping unfortunate children who, for one reason or another, have found themselves without a home, food or love. The actress is now back on TV, having joined the hit series Beautiful Justice on GMA. With the third run of the charity bowl, which Dixson said raised half a million, she hopes to improve the lives of the many children supported by the foundation.

For more information, e-mail celebritysuperbowl@alicedixson.com or call 0917-5330203.

Envoys&Expats

www.businessmirror.com.ph | Thursday, December 19, 2019 E1

Creating French culinary connections with Filipinos

By Cesar M. Cruz Jr.

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Contributor

T’S Christmastime! And quite certain, our kitchen tables will be filled with food, more food in the coming days, and still lots of food… until the longest Yuletide celebration in the world comes to a close by the first weekend of the New Year.

For those who fancy a novel gastronomy twist in their holiday fare, giving it a French flavor will definitely be in the worth considering. After all, its food culture is all about bringing people together to enjoy the art of good eating and drinking, according to the Unesco.

To sample top French cuisine offerings and dining, or to satisfy cravings and curiosities on one of the world’s finest gastronomic delights, head on over to Vatel Restaurant Manila in the heart of Malate, where Executive Chef Pierre Cornelis is eager to greet guests and diners with a warm “Bienvenue!”

Just as the meaning of his first name (Pierre is French for Peter), Cornelis has actually been a solid foundation of knowledge and skills for aspiring young Filipinos who are seeking a career, and wishing to make their mark, in the hospitality and culinary industry, be it locally or overseas.

He happens to be the chief instructor and consultant of De La Salle-College of Saint Benilde’s (DLS-CSB) School of Hotel, Restaurant and Institution Management starting in 2009.

Since then, Cornelis has actually made Manila his home for over a decade now.

Prior to his scholarly stint, the French chef was originally scouted for his culinary skills to help establish the La Regalade French Bistro in Makati in 2008, adjudged as one of Philippine Tatler’s best restaurants in that same year.

Thus, Cornelis actually wears two hats—or toques, at that—as he oversees the culinary ensemble of Vatel Restaurant Manila.

The French-Mediterranean dining outlet can comfortably seat 72 while accommodating 40 alfresco guests at the deck overlooking the majestic Manila Bay. Behind its commercial purpose, Vatel Restaurant Manila ser ves a s a h atc her y of t he strengthened educational partnership of the college and Vatel International Business School, a leading European hospitality learning institution based in France. It trains students for midd le- and higher-management positions in hospitality and tourism. DLS-CSB is one of its many partner-school around the world.

Speaking of his profession which has brought him to this corner of the world, Cornelis derives a great deal of fulfillment in being an expat. “The best thing about living here is that it gave me the opportunity to start an application restaurant, which I operate with students. I enjoy sharing my field of expertise

with them.”

The Frenchman recognizes that running a successful restaurant requires an excellent team to uphold the integrity of recipes, procedures, standards and the application of expertise.

With regard to the specialties of Vatel Restaurant Manila, it follows the original way of the French to keep recipes authentic. Cornelis occasionally introduces new dishes in the menu, offering varieties and giving customers more reasons to enjoy French food.

The seasoned chef cites bistro cuisine, baguette aux echalotes (French bread with shallots) and cassoulet (meat and beans stew) as good introductions to French cuisine. His must-try signature dish is beef bourguignon (sauce with red wine, onions and seasoning).

Desserts are also something to look forward to. The Cerveza Negra ice cream, for one, will definitely not disappoint novice diners.

The French expatriate is all too eager to share his cooking philosophy which he has stood by from the time he was a newbie in the kitchen. “Choose the best produce; use the best technique.

Expertly use seasoning and flavors to elevate taste. Always ensure quality and texture,” were his sagely pieces of advice.

The French advantage

WHEN it comes to his career, Cornelis was inspired by Chef Bernard Loiseau, who is regarded by peers as the most charismatic kitchen whiz of all time.

In recent years, however, the Vatel Restaurant Manila’s chief cook found encouragement in the achievements of Alain Ducasse, who happens to be the most celebrated of modern French chefs.

With regard to his inspiration in being a chef and making his mark in the culinary world, he had this to say: “I have always been interested in food and ingredients: meat, fruits and vegetables, which grew my fondness of visiting and enjoying the ambiance of the markets in Belgium and in the South of France. I look forward to their local and seasonal products.”

He shares his take on what makes French cuisine profoundly different from others. Owing to the geography of France and location, he is proud that his country has the advantage of having different climates. The neighboring areas, the Atlantic Ocean and the Mediterranean Sea, inf luence the varieties of cheese, wine, fish, meat, vegetables and fruits.

Continued on E2

Envoys& BusinessMirror

E2 Thursday, December 19, 2019

FILIPINO FOOD MOVEMENT

Consulate general, Fil-Ams salute chef-restaurateur

Mexico promotes Filipino cuisine

CHEF Christina Sunae MEXICO PE/DFA

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CHEF Ross Pangilinan (left photo) thanks guests for attending his victory reception. Philippine Consulate General in Los Angeles Deputy Consul General Ambrosio Brian F. Enciso III (right photo, third from left) poses with Pangilinan (left) and his mother Annie. DFA

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OS ANGELES—The Philippine Consulate General joined the Filipino-American community in celebrating in August the success of Chef Ross Pangilinan, who has garnered several recognitions on culinary arts at Terrace by Mix Mix.

His restaurants have received multiple awards, including Orange County’s 19 Hottest Restaurants for 2019 (Easter LA), Chef of the Year 2019 (Orange County Business Journal), Bib Gourmand List (Michelin 2019), Best New Restaurants 2019 (Orange Coast Magazine), and one of the 10 Most Exciting New Restaurants of 2019 (Modern Luxury Orange County).

South Coast Plaza, one of the largest shopping malls in the West Coast, hosted a reception

to honor Pangilinan and his newly opened restaurant in South Coast Plaza. Deputy Consul General Ambrosio Brian F. Enciso III attended the event to personally congratulate the rising kitchen star.

The Filipino-American chef is known for his innovative fusion dishes, undauntedly combining Filipino and European palates. He opened Mix Mix Kitchen Bar in Santa Ana, California, and Terrace by Mix Mix at South Coast Plaza in Costa Mesa, California. DFA

Pinoy dessert-dinner sampled in the ‘land down under’

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ANBERRA—A Filipino-inspired dessert-dinner was the centerpiece at the Ovo Boteco Potts Point in New South Wales.

Presented by the Filipino Food Movement Australia in September, HiltonSydney Executive Pastry Chef Miko Aspiras presented the special offering.

It incorporated main flavors of Filipino cuisine using local and specifically sourced ingredients.

Aspiras brought his signature quirkiness to the table, connecting guests to his Philippine heritage, as well as the complexity of Filipino flavors and cultural flair.

The Filipino pastry chef was Philippine Tatler’s Best Pastry Chef in 2018, a semifinalist at the Valrhona C3 Asia Pacific 2018, and one of Forbes Asia Magazine’s “30 Under-30 Most Influential Chefs” in 2018. DFA

FILIPINO Pastry Chef Miko Aspiras FILIPINO FOOD MOVEMENT-AUSTRALIA/DFA

EXICO CITY—Part of its gender and development and cultural-diplomacy initiatives, the Philippine Embassy in Mexico organized in August the first master class on Filipino cuisine at the prestigious Le Cordon Bleu School, in collaboration with the Philippine Trade and Investment Center, in Mexico.

Headed by Buenos Aires-based Chef Christina Sunae, who owns and runs the renowned Southeast Asian restaurant Cantina Sunae in Buenos Aires, three recipes from various regions of the Philippines were presented to and shared with a full house of 44 participants, which included professional chefs and members of the media.

Tiyula itum (burnt coconut beef dish from Mindanao), sisig and bibingka cassava were prepared. Sunae spoke about Filipino cuisine, cooking and culture, focusing on comfort food that is easily shared with friends and family. She explained the many similarities between the Philippine, as well as Mexican cooking, and the way both share great respect for local ingredients.

Students also learned about the importance of the Manila-Acapulco Galleon Trade, which facilitated the exchange of fruits and vegetables emblematic to Philippine and Mexican cuisine. Sunae, likewise, explained the importance of the coconut tree, which Filipinos consider as the “arbol de la vida,” or the “tree of life.” DFA

Vatel renews partnership with Benilde

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HE world’s premier hospitality institution Vatel International Business School Hotel and Tourism Management has committed to seven more years of partnership with De La Salle-College of Saint Benilde (DLS-CSB).

The collaboration was sealed in the renewal of memorandum recently signed by Vatel Group Founder-President Alain Sebban, DLS-CSB’s President Br. Dennis Magbanua, FSC, and School of Hotel, Restaurant and Institution Management Dean Angelo Marco Lacson, as well as Honorary Consul of the Philippines in Lyon Hervé de Malliard at the Vatel Corporate office in Lyon, France.

Vatel, a worldwide hospitality and management network for nearly 40 years, stands as the leading business school that equips and produces industry leaders fit for the global scene. Recognized as the “Best Hospitality Management School” during the 17th Worldwide Hospitality Awards 2017—a competition highlighting the exemplary achievements in communication, marketing, innovation, human resources, social and environmental responsibility, as well as customerloyalty programs —it continues to share the art

of French hospitality with 50 other campuses in 32 countries, one of which is DLS-CSB. Through this cooperation, DLS-CSB has been known as Vatel Manila, which offers Bachelor of Science in International Hospitality Management (BS-IHM), a transnational course that grants graduates with both Philippine and French degrees.

The college also enjoys the vast network of Vatel schools, together with its several projects offered that promises a number of experiential opportunities for its students, such as the Marco Polo Program, which sends IHM students to train from six months to a year in establishments, including Vatel Paris in France, Vatel Martigny in Switzerland, and Vatel Bangkok in Thailand. It was recognized in 2018 as the “Best Innovation in an Educational Program” by the Worldwide Hospitality Awards.

DLS-CSB’s IHM students can also broaden their knowledge and experience in the industry through various engagements in Vatel schools in France, including a series of comprehensive wine studies and tours in the vineyards and cellars of Saint Emillion through Vatel Bordeaux and months-long summer internship in Vatel Nimes.

Creating French culinary connections with Filipinos Continued from E1

Cornelis continued: “The French have a selection of food varieties.

We explore and enhance different flavors from our regions. Finally, we enjoy combining French techniques and cooking methods. I want people to understand that French cuisine is built from authentic, provincial rural recipes.”

The highly prolific chef started to build his portfolio from time he graduated from Ecole Hotelier et tourisme de Liege in Belgium, then harnessed his craft further in a “classic” restaurant after his studies. He further honed his culinary skills by gaining experience in cooking Mediterranean cuisine in various dining establishments in the south of France, in the environs adjacent to the Mediterranean Sea and Corsica.

Cornelis’s keen understanding of the demands of the kitchen has made him sought after not only in his native France, but overseas, as well. The chef has seen action in Montreal, Canada, where he worked with top hotels, such as the Westin Montreal and the Hilton.

During his six-year tenure as executive chef of Le Spa Eastman, where he specialized in healthy cuisine, he was able to parlay his culinary expertise into authoring a cookbook, Le Spa Eastman a votre table (Le Spa Eastman at your table).

The book, which features 100 nutritious recipes, won an award in 2006 as the Best Culinary Cookbook in French at the annual Cuisine Canada co-organized by the University of Guelph, in Ontario.

Speaking of nutrition, Cornelis admits that the creative process of turning a recipe into a gastronomic cuisine with the collaboration of a nutritionist could prove to be challenging. “It begins with meticulously choosing the ingredients. Then everything would follow.”

Recipes for success

CORNELIS has served as competition judge and chef demonstrator at numerous staging of “Chefs on Parade” and culinary events of the Hotel and Restaurant Association of the Philippines a few years back.

In March, he was among the 26

chefs in the Philippines who were selected to participate in the fifth edition of “Gout de France,” the largest annual dinner in the world that highlights French gastronomy.

Working about 10 hours daily, the head of Vatel Restaurant Manila makes sure to “cook up something interesting” on weekends—outside the kitchen, that is. His hobbies include swimming and scuba diving, as he is a certified dive master of the Professional Association of Diving Instructors, or Padi.

For his artistic endeavors, Cornelis finds time to feed his soul by playing the electric guitar and the acoustic six-string. He can also show some moves in the dance floor with the salsa.

The premier chef may be enjoying the view from the top, literally (find out why with a visit to Vatel Restaurant Manila), but he does not stop there.

“I would like DLS-CSB to open another branch of Vatel to reach more customers and students, so they may be able to enjoy and experience dining in a French restaurant serving authentic French cuisine,” he thus expressed his

earnest hopes.

It is good to note that Cornelis finds working with Filipinos a breeze: “They are nice, friendly and easy to work with. They understand that preparing and cooking at the kitchen carries a big responsibility, which is to satisfy the cravings of the discerning customers.”

His constant advice to his learners in the kitchen: “I always remind them to be consistent with the recipe to maintain the original, authentic flavor.”

Among the countless cuisines and food preparations he has been exposed to from around the world, one Filipino dish though has won his French heart: “My favorite would have to be chicken tinola.

I like the combination of ginger, papaya, malunggay [olifeira] and garlic.” To which, he exclaimed, “Sobrang masarap!”

To Chef Cornelis: It’s such a delight that you love a traditional dish prepared during Christmas in almost every Filipino home, monsieur!

(Vatel Restaurant Manila is at the roof deck of Hotel Benilde Maison De La Salle, Arellano Avenue corner Estrada Street, City of Manila.)

Vatel Restaurant Manila Executive Chef Pierre Cornelis

&Expats

envoys.expats.bm@gmail.com |Thursday, December 19, 2019 E3

CONFERMENTS AND AWARDS

Japan decorates former BSP gov Tetangco

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Story & photos by Recto L. Mercene

ORMER governor of the Bangko Sentral ng Pilipinas (BSP) Amando M. Tetangco Jr. received the Japanese government’s Order of the Rising Sun (Gold and Silver Star) in a conferment ceremony on December 11 held at the ambassador to the Philippines’s residence.

Ambassador Koji Haneda bestowed the award to Tetangco on behalf of his majesty, the emperor of Japan, in recognition of the exBSP chief’s invaluable contribution to strengthening the relations between Japan and the Philippines in the financial sector.

In his congratulatory message, Haneda lauded the leadership of Tetangco in the BSP for 12 years. The diplomat expressed his appreciation to the latter for drawing the strong support on the full liberalization of foreign banks’ entry into the Philippines in 2014.

The Sumitomo Mitsui Banking Corp. (SMBC), which maximized the liberalization of foreign banks, was the first Japanese bank which opened its first branch in the Philippines. It is the first foreign-bank approval under the amended law that allowed further entry of similar financial institutions into the country.

Haneda added that Tetangco also actively played his part in regional finance stabilization “by promoting both regional and bilateral financial cooperation led by Japan, including the bilateral currency swap arrangement [BSA] and joint working group on financial cooperation between Japan and the Philippines.”

‘Positive outcomes’

THE one-time BSP head cited SMBC’s entry into the country, “the first foreign bank to be licensed by a branch code under this law,” through the enactment of a law that he had made possible. He added

that SMBC made the move in September 2015, “thus all the biggest Japanese banks, like Mitsubishi UFJ Financial Group and Mizuho, now have branch presence in the Philippines.”

According to the former BSP captain, Republic Act 10641 was a careful calibration by the Philippine Central Bank core regulators, and that the legislators, as well as the Executive branch, saw it as a future landscape for the Philippine financial system. “This included the generation of benefits, such as transfer of technology and the augmentation of financial resources through increases in foreign direct investments.”

He said the passage of the law also came at an opportune time, as the Japanese banks carried out a new and laudable customer approach. “[It] allowed them to provide a greater variety of financial products and services, such as lending, trade, finance and foreign exchange to Philippine-based Japanese firms in the manufacturing and services sectors, among others.”

“This cooperation between Japan and the Philippines has brought about positive outcomes,” Tetangco said, then added that such also further deepened and broadened the partnership, including within the region, with Japan and Asean.

“We should seek for continuous improvement. Our strong ties put us in a good position to take advantage of the opportunities of Asean integration,” Tetangco exhorted,

AMBASSADOR Koji Haneda (two photos, left) bestows upon former Bangko Sentral ng Pilipinas governor Amando M. Tetangco the imperial decoration of the Order of the Rising Sun (Gold and Silver Star, as seen in the third photo).

then added that the regional bloc, as a single market, is considered as the third-largest in Asia, and the fifth-largest economy in the world in terms of gross domestic product.

He added that Japan has long been a strong partner in creating a safer and more stable economic neighborhood under the Asean: “[It] is a key player in the Asean Plus Three [Asean+3], together with China and South Korea.”

Tetangco said under the administration of Asean+3, the Bank of Japan, the BSP and another entity signed a series of BSAs. “[Such] would provide both countries short-term support in the event of financial crisis,” the ex-BSP stalwart concluded.

Cooperation, mutual trust

IN response to Haneda, the finance wizard thanked Japan’s Ministry of Foreign Affairs, through the Japanese envoy, “for the consistent support extended in obtaining and fur-

ther enhancing economic relations between our two countries.”

“The conferment of this award by the Japanese government is a highly valued tradition that promotes the spirit of international cooperation,” he stated. “More than the recognition this award bestows, it underscores the importance of cooperation and mutual trust that promote each other’s stability and prosperity, which has such significance, particularly in this period that our wholehearted cooperation is being challenged by the developments in various parts of the world.”

Tetangco said more areas of cooperation and interlinkages have been developed, thereby creating richer economic opportunities for both Filipinos and Japanese here and in the “Land of the Rising Sun.” “Japan remains one of the Philippines’s largest trading partners.

Japanese foreign investments here have continued to expand steadily,

and [the Asian superpower] also leads in the provision of ODA [or official development assistance] [to my country].”

He cited several examples of this assistance, such as those extended to victims of natural disasters, their participation in the recovery operations; as well as environmental and social governance, and as military medicine.

Tetangco noted the Philippines has sent many Filipino professionals to Japan, “[and, at the same time, offered a] pool of high-caliber managerial and technical manpower operating here in the country.”

Top central banker

TETANGCO was named twice as one of the world’s top central bankers by an international finance magazine.

As BSP’s governor for several years, Tetangco was graded “A” by the Global Finance magazine alongside five others who stood out of the 50 central bank governors evaluated.

An “A” rating represents an “excellent performance” in areas of “inflation control, economic growth goals, currency stability and interest-rate management.”

According to his profile in the BSP web site, Tetangco is a career central banker who had served various positions in the Philippine Central Bank during the past three decades. He was first named as governor in July 2005, before being reappointed during former president Benigno Aquino III’s term.

As BSP governor, Tetangco was also the chairman of the Monetary Board, the central bank’s policymaking body; the Anti-Money Laundering Council; and the Philippine International Convention Center. Among international organizations, the former BSP chief served as governor for the Philippines at the International Monetary Fund, as well as alternate governor for the World Bank and the Asian Development Bank.

France, Germany award human-rights prize to anti-involuntary disappearance advocate

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N December 12, Ambassadors Nicolas Galey of France and Anke Reiffenstuel of Germany jointly awarded the Franco-German Prize for Human Rights and the Rule of Law to Mary Aileen D. Bacalso, former secretary-general of the Asian Federation Against Involuntary Disappearances (AFAD).

More than 50 human-rights defenders in the Philippines attended the ceremony, including Commission on Human Rights Chairman Jose Luis Martin Gascon and Philippine Alliance of Human Rights Advocates Secretary-General Rosemarie Trajano, who was also the first Filipino to receive the award in 2017.

Every year since 2016, the Franco-German Prize for Human Rights and the Rule of Law is being awarded to individuals or organizations who have made an exceptional contribution to the protection, and promotion, of human rights and the rule of law, in their country and at the international level.

According to the Embassy of France, the prize reaffirms the constant commitment of the two European countries to human rights and the rule of law, while helping to strengthen their cooperation in this area.

A few days prior on Human Rights Day (December 10), the French Ministry for Europe and Foreign Affairs, and Germany’s Federal Foreign Office announced the 15 recipients of the 2019 Franco-German Prize for Human

Rights and the Rule of Law. Joining Bacalso as this year’s awardees are other human-rights defenders: Ales Bialiatski (Belarus), Li Wenzu (China), the Nadim Center (Egypt), Ameha Mekonnen Asfaw (Ethiopia), Robin Chaurasiya (India), Nasrin Sotoudeh (Iran), Amina Hanga (Nigeria), Miluska del Carmen Luzquinos Tafur (Peru), Irina Biryukova (Russia), Delphine Kemneloum Djiraïbe (Chad), Asena Günal (Turkey), Luz Mely Reyes (Venezuela) and Vu Quoc Ngu (Vietnam).

Bacalso was jointly nominated by the French and German governments in recognition of her work in lobbying for greater national and international action against enforced disappearances, as well as providing assistance to victims of enforced disappearances and their families in the Philippines and all over the world.

In her capacity as then-secretary-general of the AFAD founded in Manila in 1998, and as focal person of the International Coalition Against Enforced Disappearances, which comprises more than 30 organizations nationwide, Bacalso contributed to the drafting and lobbying of the International Convention for the Protection of All Persons from Enforced Disappearance, which was adopted in Paris in 2006.

In the Philippines, Bacalso joined other human-rights groups in lobbying for the AntiEnforced or Involuntary Disappearance Act, which was passed into law in 2012. It represents the first and only law of its kind in Asia.

AMBASSADOR of Germany Anke Reiffenstuel (from left), 2019 Franco-German Prize for Human Rights and the Rule of Law awardee Mary Aileen D. Bacalso, 2016 awardee Rosemarie Trajano and Ambassador of France Nicolas Galey

Envoys&Expats BusinessMirror

E4 Thursday, December 19, 2019

www.businessmirror.com.ph

EMBASSIES, EVENTS, ETC.

ADDITIONAL FUNDING. Finance Secretary Carlos G. Dominguez III (left) and World PHOTO EXHIBIT Ambassador Rafael Harpaz (right) shows Sr. Flordeliza Deza, SPC, a photo

of Pope Francis planting an olive tree in Jerusalem. The Embassy of the State of Israel staged a photo exhibit at the St. Paul University Manila in November to commemorate the 25th year of diplomatic relations between the “Holy Land” and the Holy See. EMBASSY OF ISRAEL IN THE PHILIPPINES

THANKSGIVING Trade Secretary Ramon M. Lopez (left) was welcomed by British Chamber of Commerce Philippines Executive Director and Trustee Chris Nelson at a year-end media appreciation night on December 10. The latter shared the organization’s accomplishments in 2019, as well as plans and expectations for next year.

Bank Country Director Mara Warwick sign a loan agreement for the Second Social Welfare Development and Reform Program, which will provide additional financing for the Pantawid Pamilyang Pilipino Program that will continue to support the delivery of conditional cash transfers to millions of beneficiaries until 2022. With the additional financing, the WB’s support for the government’s conditional cash-transfer program has reached $1.26 billion. DOF/PNA

‘Qatar: An entity that is based on dignity, authenticity and belonging’

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Speech of Ambassador Ali Ibrahim Al-Malki on the occasion of the National Day of the State of Qatar

T is a great honor to celebrate this precious and cherished national occasion, where our country commemorates its national day, when Founder Sheikh Jassim bin Mohammed Al Thani, in December 18, 1878, planted the seed to establish a modern, sovereign state and an entity based on dignity, authenticity and belonging; a day immortal and dear to all Qataris.

AMBASSADOR Ali Ibrahim Al-Malki

QATAR’S 2019 National Day logo

This day remains imperishable and cherished in the hearts of all Qataris.

On this blessed day, I extend my most sincere congratulations to his Highness Sheikh: Tamim Bin Hamad Al Thani, the Emir of the State of Qatar (may God protect him); the Father Emir Sheikh: Hamad Bin Khalifa Al-Thani (may God protect him); also to his Highness Sheikh:Abdullah Bin Hamad Al-Thani, Deputy Emir of the State of Qatar; his Excellency Sheikh:Abdullah Bin Nasser Al-Thani, Prime Minister of the State of Qatar; and to all the Qatari people, as well as all residents and expatriates in the beloved State of Qatar, wishing them all good, wellness and blessings.

The celebration takes place this year under a slogan inspired by a poem that expresses the faith of successive generations of Qatari youth.

It emphasizes loyalty, solidarity, unity and pride in the national identity of the State of Qatar. A slogan embodies the identity of Qatar and its history, as well as the ideals and hopes on which the state was founded.

The celebration of Qatar’s National Day this year is of particular importance, as it comes amid the challenges of the siege faced by the state since June 2017, and the ability to manage the crisis successfully, due to its rational and wise leadership.

Qatar has witnessed a remarkable development in many fields, competing with the first countries of the world. This is evident in being the first country in the Middle East and the Arabian Gulf to host the world’s biggest sporting event in 92 years: the 2022 World Cup. The State of Qatar believes in the importance of education, training, capacity-building, enhancing employment opportunities for all, and strengthening national economies, affirming the importance of promoting peaceful dialogue and the values of tolerance, rejection of extremism and terrorism, and discrimination based on race or sect. It established the Doha International Center for Interfaith Dialogue and the Hamad bin Khalifa Islamic Center in Copenhagen, Denmark, in order to promote peaceful coexistence and fight extremism, as well as the peaceful foreign policy of the state based on mutual respect with other countries.

National vision

THE State of Qatar seeks to achieve its national vision for the year 2030, which focuses on soaring the country’s economy to broader horizons, aiming to balance the achievements of economic growth by benefiting from the development of human and natural resources—a vision that constitutes the economic, social, environmental and human orientation of the State of Qatar in the coming decades.

In September this year, Doha unveiled the logo of the 22nd edition of the 2022 World Cup hosted by Qatar, reflecting the efforts to organize the biggest football event in the world. Thousands of people watched it on huge screens on the façades of the world’s most prominent countries.

The logo design reflects the overall dimension of the tournament that includes elements inspired by the Qatari and Arab culture that harmonizes with the components of the football game, as well as the rich diversity that enriches the society in Qatar.

The selection of the woolen shawl in the design of the logo indicates the time of the tournament, as it will be the first time to be held in November and December.

The logo elements are inspired by different cultures in Asia and celebrates the continent’s hosting of the 22nd edition of the World Cup. As part of the enhancement of bilateral cooperation relations between the State of Qatar and the Republic of the Philippines, Manila has been selected as one of the first countries to open the Qatar Visa Center, which reflects the Qatar’s great interest in the Philippines, and its keenness to develop its relations with the Philippines in areas of common interest. The opening of the Qatar Visa Center also affirms the state’s attention to Filipinos working on its territory, by providing them with a decent life, in recognition of their significant contributions to the renaissance in Qatar. The launch of the center in September is an unprecedented achievement in the field of labor relations between the two countries.

It is a result of Qatar’s policy to strengthen and enhance relations with the Philippines, and to bond the brotherly ties between the two friendly peoples, leading to a brighter future.

‘Remarkable positive development’

THE relations between the State of Qatar and the Republic of the Philippines are characterized by cooperation and coordination on many regional and international issues.

The relations between the two countries have witnessed a remarkable positive development during the past period, and a common desire to increase and strengthen cooperation between the two countries, pursuant to the common interests of the two friendly peoples and to achieve mutual benefits, especially as the State of Qatar undertakes great importance to the Republic of the Philippines, at highest levels, and seeks to develop and strengthen its relations with the Philippines, as the two countries seek to open their markets to companies and finance houses involved in investment in many areas.

Although trade and economic cooperation between the State of Qatar and the Republic of the Philippines has been small and narrow in the past period, the State of Qatar is now open to the development of relations between the two countries, and opening new horizons for economic and trade cooperation between the two countries.

The rapprochement between the two sides during the past year has contributed to the openness of investment and increased opportunities for trade exchange between the two countries, as well as increase the official mutual visits of officials from the public and private sectors of both countries, which helped to strengthen these relations through the conclusion of a large number of agreements and memoranda of understanding. It has had a positive and direct impact on improving, increasing and strengthening relations between the two countries.

The government of the State of Qatar is looking forward to increasing its bilateral cooperation with the government of the Republic of the Philippines, especially under the presidency of his excellency, President Duterte, whose government operates according to deliberate and balanced strategies, as his government has friendly relations with all countries of the world, especially the countries of the Middle East and the Gulf.