BusinessMirror February 11, 2019

DISPLACED HANJIN WORKERS FIND NEW JOBS IN SUBIC ‘BUILD, BUILD, BUILD’ FAIR

By Henry Empeño

Correspondent

S JOBSEEKERS, most of them displaced Hanjin workers, survey available positions at the job fair on Saturday at the Subic Bay Freeport. HENRY EMPEÑO

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

UBIC BAY FREEPORT—Close to a hundred workers recently laid off

by Korean shipbuilder Hanjin Heavy Industries Co.-Philippines (HHIC-Phil) Inc. found new jobs here on Saturday during a job fair conducted by various government agencies under the “Build, Build, Build” program.

Preliminary results released by organizers of the interagency Build Build Build = Jobs Jobs Jobs Caravan indicated that 4,051 job applicants registered at the one-day

job fair held at the SBMA Gymnasium.

Of these, a total of 2,464, or 60.8 percent, were former Hanjin shipyard workers.

On the other hand, of the 186 jobseekers who were hired on the spot (HOTS) by various companies participating in the job expo, a total of 99 or 53 percent were former Hanjin workers.

Among the positions filled up by those hired on the spot were welders, electricians, masons, pipefitters, engineers, drivers, painters, scaffolders, riggers, clerks and administrative assistants, and sales and marketing personnel.

Rommel Aquino, of the Subic Bay

Metropolitan Authority (SBMA) Labor Center, said more workers are expected to be hired next week once they complete requirements like trade test certificates and medical documents.

He said that a total of 8,486 job applications were actually accepted, as most of the job fair registrants applied for multiple positions. Saturday’s jobs caravan was organized to provide alternative jobs to Hanjin workers who were displaced amid the financial trouble faced by the Subic-based firm, which filed for corporate rehabilitation early this year.

See “Hanjin workers,” A2

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

n

Monday, February 11, 2019 Vol. 14 No. 124

Claims vs Hanjin at ₧48B, long rehab process seen $30M L

By VG Cabuag

@villygc

AWYERS expect a long-drawn process in the rehabilitation case of South Korean shipyard operator Hanjin Heavy Industries and Construction Co.-Philippines (HHIC-Phil) Inc., as claims against it have risen to more than P40 billion. The court will have to verify the list of claims and appoint a new court receiver.

There were a total of P48 billion in claims from creditors and suppliers received by the court as of Friday, February 8, when the first hearing was held by the Olongapo Regional Trial Court, according to Stefani C. Saño, the current courtappointed receiver.

Sano said the court will rule on the new receiver by next week following his resignation. “I resigned so the process will be expedited,” he said.

One of the creditor banks questioned Saño’s role as he was nominated by Hanjin. Saño was previ-

ously a director of the Subic Bay Metropolitan Authority (SBMA) and was its former senior deputy administrator, heading the business and investment group.

At the first hearing of the rehabilitation petition Hanjin filed at the Olongapo Regional Trial Court

The amount Hanjin owes ship engine supplier SDX Heavy Industries. “There are also other creditors and some have debts not reaching $1 million. But they are just so many,” lawyer Jose F. Justiniano said

on Friday, a battery of lawyers from the creditor banks and suppliers was present. The proceedings were focused on the list of creditors, as well as the nominees for the new receiver.

“It is the task of the receiver to ascertain if all the claims are accurate. Until next week, we will See “Hanjin,” A2

P25.00 nationwide | 5 sections 26 pages | 7 DAYS A WEEK

With expansion plans nixed on tax perks loss, semicons see flat growth

By Elijah Felice E. Rosales @alyasjah

S

EMICONDUCTOR firms are staring at a flat export growth this year, as expansions intended to improve operations were scrapped largely due to the government’s move to rationalize incentives.

Semiconductor and Electronics Industries in the Philippines Foundation Inc. President Danilo C. Lachica said a number of investors have abandoned their plans to expand, as they can no longer wait for the final policy on tax incentives.

With uncertainty in place, the leading export industry is expecting the worst this year. “[Our] growth forecast [for this year] is between 0 percent [and] 3 percent,” Lachica told the B usiness M irror.

“Expansion investments are weak. No shutdown [has been]

reported, but [we] lost over $1 billion [about P52.10 billion] in expansions initially planned in the Philippines,” he added.

According to Lachica, the dumped expansion projects would have directly employed 10,000 workers and benefitted 70,000 employees in related industries.

Uncertainty from ‘Trabaho’ bill LACHICA attributed the lost investments and the flat growth forecast to the uncertain future of incentives provided to firms in economic zones. Senators have yet to decide on the fate of the proposed Tax Reform for Attracting Better and High-Quality Opportunities bill, dubbed the Trabaho bill.

The Trabaho bill will gradually reduce corporate income tax to 20 percent in 2029 from 30 percent on one hand, and will rationalize See “Semicons,” A2

By Bernadette D. Nicolas

S

See “LandBank,” A2

BUSINESS NEWS SOURCE OF THE YEAR

Warning of corruption risks, Duterte vetoes bill reconstituting PCA

LandBank: Individual certificates of title better

TATE-OWNED Land Bank of the Philippines (LBP) has proposed that the President issue an executive order (EO) authoring the conversion of collective certificates of land ownership award (CLOAs) into individual certificates of title so that farmer-beneficiaries can use this as loan collaterals.

This proposal, made at the Cabinet meeting last week, was put under further study by the Office of the President, according to a reliable source, who requested anonymity.

“I suppose that LBP proposed the issuance of an EO for the conversion of CLOAs into [individual] certificates of title so that banks would be more comfortable in extending credit to farmers who could present clean titles to secure farm loans,” the source said in a text message.

Budget Secretar y Benjamin E. Diokno has also confirmed the LandBank’s proposal to the BusinessMirror.

T he proposa l c a me up a s LandBank presented to the Cabinet the Accessible and Sustainable Lending Program allowing small farmers to access loan facilities and increase their productivity and income. The program was launched by LandBank in July last year.

2017 EJAP JOURNALISM AWARDS

P LAWYERS of creditor banks and suppliers of Hanjin Heavy Industries Co.-Philippines Inc. wait for the courtroom to open during the first hearing on Friday (February 8) of the company’s plea for corporate rehabilitation at the Olongapo Regional Trial Court. NONIE REYES

Our top 8 choices for foreign destinations

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

W

ITH school almost over in a month, parents are probably wracking their brains on where to bring their kids and other family members this long summer break. With the peso’s value versus the US greenback seemingly stable these past two months, and many airlines giving ticket-sales promos, exploring other countries is now even

PESO EXCHANGE RATES n US 52.2900

more affordable.

We consulted with pioneering flag carrier Philippine Airlines to narrow down your choices for the top new foreign destinations to visit this year.

Not all are serviced directly by PAL, according to Vice President for Corporate Communications Jose Enrique Perez de Tagle, but the carrier has partners and code-share arrangements with other foreign airlines, which fly these routes.

1. Queenstown, New Zealand IT’S a combination of spectacular

natural beauty (of the rugged and majestic kind—mountains, lakes, glorious valleys) and sheer Kiwi charm. You can close your eyes, breathe in the fresh air, and reopen them to soak in the wonders of a truly timeless place that fully justifies New Zealand’s proud slogan: 100-percent Pure.

Off the usual tourist trail in the southern island is one of the most remote places on Earth. For every season in Queenstown, there are a great number of activities to choose from.

Continued on A8

@BNicolasBM

RESIDENT Duterte has vetoed the bill strengthening the Philippine Coconut Authority (PCA) because the proposed reconstitution of the agency even made it susceptible to corruption, Malacañang said.

The Palace said, “it is with a very heavy heart” that the President exercised his veto power, hoping that the lawmakers can “re-craft another measure that will provide more safeguards to protect the taxpayers’ money and shield the levy fund from irregular and unlawful use, as well as guarantee its proper management.”

This was the first time that the President exercised his power to veto a measure in its entirety.

The reconstituted PCA was supposed to supervise and manage the coconut-levy funds and ensure the implementation of the new Coconut Farmers and Industry Development Plan.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo explained that the PCA was set up like the Road Board, which is heavily criticized for allegations of corruption and misappropriation of funds.

“The PCA Board, like the Road Board, which disburses the Motor Vehicle User’s Charge, is given full authority to disburse P10 billion every year in perpetuity without a terminal date, and subject only to review by Congress after six years.”—Panelo

“The PCA Board, like the Road Board, which disburses the Motor Vehicle User’s Charge, is given full authority to disburse P10 billion every year in perpetuity without a terminal date, and subject only to review by Congress after six years,” Panelo said.

He said the P10 billion in annual appropriation was for the development of an industry, but its implementation was placed on an agency not required to seek approval from the Executive branch.

This, therefore, made it “susceptible to corruption akin to creating pork-barrel funds,” Malacañang explained.

“The oversight functions over the Philippine Coconut Authority is placed only with Congress. Specifically, the strengthened PCA bill mentions of an oversight to be

n JAPAN 0.4760 n UK 67.7208 n HK 6.6631 n CHINA 7.8051 n SINGAPORE 38.5477 n AUSTRALIA 37.1364 n EU 59.3230 n SAUDI ARABIA 13.9432

See “PCA,” A2

Source: BSP (8 February 2019 )

News

BusinessMirror

A2 Monday, February 11, 2019

Low inflation, high growth ‘sweet spot’ seen for 2019

A

By Bianca Cuaresma

@BcuaresmaBM

FTER sailing through turbulent waters in previous years, the Philippine economy is geared up to return to the so-called sweet spot of high growth and low inflation this year as price pressures dissipate and electionrelated spending is expected to raise economic activity.

Following the announcement of the inflation print last week, Bank of the Philippine Islands (BPI) research forecast that inflation will continue to go down just as growth will start to pick up as the year progresses.

“With inflation now in a downtrend, the economy has the opportunity to return to the sweet spot of low inflation and high growth just as election spending boosts overall demand,” BPI Lead Economist Emilio Neri Jr. said.

“We note that growth during election years is usually faster com-

LandBank. . .

Continued from A1

Despite this, Agriculture Secretary Emmanuel F. Piñol still criticized the bank last October for failing to provide loans to small farmers, as they ask for too many requirements from farmers.

Malacañang also said last week the President wanted LandBank to go to farmers instead of farmers going to the bank.

According to Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo, LandBank mentioned during the meeting that about 361,000 farmers currently have individual CLOAs who will be qualified for a bank loan. The President has also directed the inclusion of New People’s Army surrenderers in the next round of land distribution.

The problem with collective CLOAs is that the inner boundaries were not clearly defined, resulting in boundary disputes, according to a 2018 study by the Center for Agrarian Reform and Development.

Besides, no proper valuations for land tax payments can also be afforded by the local government since there were no subdivision surveys conducted in collective CLOAs. Moreover, collective CLOAs resulted in low payments of real property taxes.

A large proportion of collective CLOA holders

Budget. . .

Continued from A8

He likened the “reciprocal consensus” among lawmakers in the bicameral panel that hammered out the final version as a “scratch-my-backscratch-your-back” arrangement.

Lacson claimed both chambers made “insertions” during the bicameral talks. The Senate’s insertions reached “P188 plus billion,” Lacson said, adding it was Drilon who saw this.

Last year, Lacson said the Department of Health got a P30-billion allocation for DOH facilities in remote areas.

“When Drilon noticed that for 2019 the amount dropped to P50M,

Semicons. . .

Continued from A1

incentives on the other.

The measure will lift incentives deemed crucial by investors for staying here, including the 5-percent tax on gross income in lieu of all local and national taxes. Semiconductor firms, which are mostly operating in economic zones, oppose this component of the Trabaho bill. Lawmakers ended their session last Friday to make way for the midterm polls in May. However, senators can still pass the

pared to the growth in nonelection years,” he added.

In 2016 for example, when the most recent presidential elections was held, the Philippine economy grew 6.9 percent, up from the previous year’s 6.1 percent. The same trend holds true for the 2013 election, when gross domestic product (GDP) growth that year hit 7.1 percent, up from the 6.7 percent in the previous year.

The 2010 elections saw the biggest jump in economic growth as GDP expansion surged to 7.6 percent during the year, followalso do not have organized farmer associations and are, therefore, unprepared for collective land management.

The study also stated that payment to LandBank cannot be facilitated in collective landholdings since LandBank only accepts amortization payments from farmers in landholdings with validated land amortization schedules.

Therefore, the nonacceptance of payment by the bank causes farmers to feel some level of insecurity as they fear that LandBank and the local government would seize their land because of their inability to pay their obligations.

The discussions on improving the lives of farmers and fisherfolk followed the agriculture sector’s posting of lackluster growth last year.

Diokno earlier said the President expressed concern about the agriculture sector dragging down the country’s economy.

Data from the Philippine Statistics Authority indicated that the Agriculture, Hunting, Fishery and Forestry sector grew by 0.8 percent in 2018, slower than the 4 percent recorded in 2017. In contrast, Industry expanded by 6.8 percent, while Services rose by 6.6 percent last year.

In terms of share to GDP last year, the farm sector contributed the least, at only 6.8 percent.

The country’s economy expanded by 6.2 percent in 2018. Bernadette D. Nicolas he asked what happened, when one of the priorities of the administration, particularly the funding for the agency tasked to carry out its universal health care, was reduced,” contrary to the policy of this government.

The senators, after asserting this was contrary to the administration’s policy, agreed to fill up the funding gap from other items in the National Expenditure Program, he said.

Lacson promptly clarified, however, that this could not be classified as pork barrel.

“No. This is institutional,” he said, adding that Health Secretary Francisco T. Duque III approached the lawmakers to clarify this was not part of the pork allocations.

Trabaho bill when the 17th Congress resumes session for the last time on May 20. Sine die adjournment begins on June 8.

Electronic products and semiconductors make up more than half the pie of Philippine exports.

Semiconductor exports from January to November of last year grew 4.6 percent to $34.87 billion from $33.34 billion during the same period in 2017, according to figures from the Philippine Statistics Authority. It accounted for 55.56 percent of the country’s $62.76-billion exports total for the 11-month stretch.

ing the 1.1-percent growth seen in 2009.

In 2018, the Philippine economy grew at 6.2 percent, while inflation averaged at 5.2 percent for the year.

For this election year, BPI forecasts growth to hit an average of 6.9 percent, while inflation is seen to go down to 3 percent during the year.

WITH these expectations, BPI argued that the Bangko Sentral ng Pilipinas (BSP) will have little reason to cut its interest rates early this year.

“With the 6.5-percent to 7-percent growth momentum still intact and with demand remaining strong, we still believe the BSP has little reason to adjust its policy rate throughout 2019.

After just hiking its policy rate by nearly 200 basis points, the BSP will likely pick low-hanging fruits before considering an RRP [reverse repurchase facility] cut,” BPI said.

“To alleviate the liquidity challenges faced by the financial sys-

tem, the BSP will likely prioritize cutting the RRR by 2 percentage points or more in 2019 over a policy rate cut,” it added.

The other low-hanging fruit that the BSP will likely pick over cutting its main policy rate is its operation of purchasing foreign currencies in the spot market.

“By keeping its policy rate attractive to portfolio flows, the BSP will be able to replenish its international reserves and infuse much-needed liquidity in the funds market,” BPI said.

Neri also argued that a “premature” rate cut from the BSP will not be beneficial for the local economy’s track for the year.

“We think that reducing the policy rate is still premature considering the uncertainties abroad which could lead to a sharp peso depreciation. The current level of rates allows the Central Bank to prevent foreign-exchange volatility while it rebuilds its foreign reserves,” Neri said. “Instead, this gives the central bank the space to reduce its RRR as early as May,” he added.

Hanjin. . .

next week, leaving only about 300 workers by March, to maintain its facilities.

No reason to cut rate

Continued from A1

know if there’s a new receiver but there will still be a transition,” Saño said.

Hanjin owes local banks some $412 million, and another $700 million is owed to overseas creditors, mainly from Korea Development Bank (some $100 million); and its parent, the South Korean firm Hanjin Heavy Industries.

“There are also other creditors and some have debts not reaching $1 million. But they are just so many,” lawyer Jose F. Justiniano said.

Justiniano represents ship engine supplier SDX Heavy Industries, to which Hanjin owes about $30 million.

There were reports that Hanjin still has to default on its payments of its debts with the local banks, but Justiniano said the South Korean company already defaulted on his client.

“We are just in the first stage of the rehabilitation process. We are still determining if this company can still be rehabilitated or not.

But for the meantime, they asked for the courts to stop all payments until such time that its business returns to normal,” he said.

Hanjin last month filed for corporate rehabilitation to seek court relief from paying its debt.

Its local creditor banks were Rizal Commercial Banking Corp., Land Bank of the Philippines, BDO Unibank Inc. and Bank of the Philippine Islands.

According to its plan, Hanjin will fire another 3,000 workers by

At a standstill

THE South Korean shipyard in Subic Bay, meanwhile, is now on a standstill, leaving the establishments—sari-sari stores and dormitories for the worker—near the facilities idle.

Hanjin also had to let go thousands of its workers since last year, and most of them were offered higher compensation than the usual one month salary for every year of stay in the company.

Opportunities

AS a result of Hanjin’s impending shipyard closure, Subic Bay Metropolitan Authority held a jobs fair on Saturday at the freeport zone.

Wilma T. Eisma, SBMA chairman and administrator, said the activity was coined initially to help the displaced Hanjin workers, but it was later extended to also other jobless skilled and non-skilled people living in Central Luzon.

The Bases Conversion and Development Authority (BCDA) is constructing a P13.16-billion National Government Administrative Center in Clarkfield in Pampanga.

The said facilty, constructed by AlloyMTD, a consortium of local and regional firms, will host this year’s Southeast Asian Games.

AlloyMTD President Patrick Nicholas David said they are looking at the displaced Hanjin workers as they are now short of thousands of manpower since the facilities are being rushed for November’s games.

Hanjin workers. . .

The organizers were the BBB team composed of the Department of Public Works and Highways, Department of Transportation, and the Bases Conversion and Development Authority (BCDA) in partnership with the Department of Labor and Employment, Department of Trade and Industry, SBMA and Clark Development Corp.

During the fair, SBMA Chairman and Administrator Wilma T. Eisma thanked all participating agencies and companies, and lauded the collaboration between the public and private sectors in keeping former Hanjin workers in the active work force to sustain the economic growth of the region.

“We acknowledge the efforts of the government through the BBB Team to come up with an immediate program to address the plight of displaced Hanjin workers,” Eisma said. “Now they can be

Continued from A1

assured of reemployment.”

Among the top government officials who graced the Subic job fair were Sen. Richard J. Gordon, Labor Secretary Silvestre H. Bello III, Public Works Secretary Mark A. Villar, Transportation Secretary Arthur P. Tugade, BCDA President Vivencio B. Dizon and Zambales First District Rep. Jeffrey Khonghun.

Organizers said almost 30,000 jobs were offered during the job fair by almost 100 companies mostly engaged in construction projects under the government’s infrastructure program, and companies within the Subic Bay Freeport Zone.

The national government plans to spend from P8 trillion to P9 trillion for public infrastructure from 2017 to 2022, and infrastructure projects are expected to create millions of job opportunities nationwide.

www.businessmirror.com.ph

NO RICE PRICE SPIKES DESPITE N.F.A. POWER REMOVAL, SAYS N.E.D.A.

By Cai U. Ordinario @caiordinario

D

ESPITE the absence of a concrete study on its impact, the National Economic and Development Authority (Neda) assured the public that the removal of regulatory powers of National Food Authority (NFA) will not lead to higher rice prices.

The rice tariffication bill and the implementing rules and regulations (IRR) will contain measures that allow the President to intervene on behalf of public interest, Neda Assistant Secretary Mercedita A. Sombilla said in a recent phone interview.

Sombilla said the bill, which is now with the President for signing into law, will also outline the phases of the removal of NFA’s regulatory powers. She said the removal of NFA’s regulatory function will not be done immediately.

“Trade liberalization is the way to go for any market especially if you want competition. So you don’t really need to study especially since you can already see [that because] it’s very much regulated, we are not able to enjoy the prices that we should be taking advantage of in the world market,” Sombilla pointed out.

The Neda official said the Governance Commission for governmentowned and -controlled corporations (GOCCs) or GCG will be in charge of the restructuring plan for the NFA. Sombilla also said that during meetings with farmers, Finance Secretary Carlos G. Dominguez III explained what the bill is about and how it can help farmers and the entire country.

She said Dominguez also cited as examples the fertilizer and oil trade, which improved on account of liberalization. While prices temporarily increased, they eventually stabilized after stakeholders were able to get“accustomed” to the changes, she added.

“The benefits of liberalization [were] really for the long term. And that’s going to happen to rice. The private sector knows better, they know when to import, they know what to import,” Sombilla said.

No queues FURTHER, the marching orders of the

PCA. . .

Continued from A1

exercised by the Coconut Farmers and the Industry Oversight Committee to the exclusion of the Executive Branch,” he said.

Malacañang also confirmed that one of the provisions under the bill that it found objectionable was the composition of the 15 -member PC A board. “ T he composition of the reconstituted 15-member PCA board under the PCA bill includes seven members coming from the private sector.

A receipt of P10 billion by the board from taxpayers’ money therefore translates to permitting private persons to influence the disbursement of public funds,” he said.

Moreover, a reconstituted PCA also lacked the proper checks and balances as it was given various functions, including but not limited to the sale, disposition or dissolution of coconut-levy assets.

“Such condition will diminish the ability of the Department of Justice, through the Office of the Solicitor General in coordination with the Presidential Commission on Good Government, to act on cases relating to coco-levy assets,” he said.

Nonetheless, Malacañang is hoping that the President’s veto will urge Congress to give more time and opportunity to improve

President during the meeting was to prevent any queueing when it comes to buying cheap rice, something that happened in 2012. There were also pockets of NFA rice queues last year due to the spike in inflation.

Sombilla said the President told the farmers in the meeting to list down their concerns and submit them to him. He will then instruct the economic team to answer all these concerns.

This, Sombilla said, is already an indication that the President was not likely to veto the rice tariffication bill.

“Just to make the story short, the least intervention from the government, market to play, the most benefit that would go to the...greater majority, that’s what he [President Duterte] said. [He added] so list down all your concerns, I will let my economic managers, my cabinet secretaries to look at them and instruct them to respond to it considering that the response should take into consideration what is best for the people. The message [from the President] was clear. To us it was clear,” she said.

Earlier, Socioeconomic Planning Secretary Ernesto M. Pernia said through rice tariffication, affordable rice can be obtained from various sources and need not be the sole responsibility of the NFA. The rice tariffication bill amends the two-decade-old Republic Act 8178, otherwise known as the Agricultural Tariffication Act of 1996, and replaces the quantitative restrictions (QR) on rice imports with tariff.

The bill, ratified by both chambers of Congress on November 28, 2018, is set to be transmitted to Malacañang for the President’s signature.

Under the new rice importation regime, legitimate rice traders can now import rice without NFA permits, provided they secure a sanitary and phytosanitary import clearance from the Department of Agriculture-Bureau of Plant Industry (DA-BPI) and pay the appropriate tariff to the Bureau of Customs.

The NFA, on the other hand, will focus on ensuring sufficient buffer stocks to address emergency situations. As there is a need to periodically replenish the buffer stocks, the NFA can still sell cheap rice, but to very targeted markets.

the formulation of PCA and the distribution of coco-levy funds.

“The veto by President Rodrigo Roa Duterte of the legislative measure is a reflection of the principled stand of this administration in promoting good governance and public accountability,” Panelo said.

The coconut-levy funds have been stuck in court disputes until 2012, when the Supreme Court awarded the shares bought with the coco-levy funds to the government to be used for coconut farmers and the industry.

It was unclear yet what will happen to the related bill creating a Coconut Farmers and Industry Development Trust Fund, which has been already resubmitted by Congress to the Office of the President last January 17.

It is set to lapse into law by February 17 if the President does not act on it.

Senators earlier sought to recall the said bill to avert a presidential veto as it failed to include a major amendment in the Bicameral Conference Committee Report.

Senate Majority Leader Juan Miguel F. Zubiri earlier said the President wants the bill amended so that the majority of the trust fund board membes who will distribute the funds to farmers would be composed of government officials.

The distribution of the coco-levy funds was one of the priority bills by the Duterte administration.

www.businessmirror.com.ph

The Nation BusinessMirror

AFP Eastmincom’s armed response, devt work combo seen to stifle NPA threat

O

FFICERS of the Armed Forces of the Philippines Eastern Mindanao Command (AFP Eastmincom) underwent project-monitoring orientation and training over the weekend as the military takes an increasing role in the implementation of socioeconomic and development projects around the country.

The greater involvement of soldiers in development work was a part of the government’s strategy to defeat communist insurgency that for years centered mainly on armed response.

Eastmincom Spokesman Lt. Col. Ezra Balagtey said the “Regional Project Monitoring and Evaluation Systems and Result Bases Monitoring and Evaluation Orientation for AFP” aims to help soldiers appreciate, understand and monitor government projects.

The military seeks to end activities by the New People’s Army (NPA) in areas under the Eastmin-

com, particularly in Compostela Valley and some parts of Davao del Sur, through a combination of direct operation and socio-development projects.

Ba lagtey said the training was held in consonance with Department of National Defense Department Order 384 and Regional Development Council XI Resolution 89 calling for the inclusion of military units in Davao Region as member-observer of the Regional Project Monitoring Committee XI. “It was also aimed at enhancing the collaboration and coordination of the member-agencies in addressing the socioeconomic and development concerns of the different communities in the region more with the issuance of Executive Order 70 calling for the ‘whole of nation approach’ in ending the insurgency in the country,” Balagtey was quoted in a statement as saying. Rene Acosta

Editor: Vittorio V. Vitug • Monday, February 11, 2019 A3

Immigration nabs 30 illegal Chinese nationals as BI vows more arrests

T

By Joel R. San Juan

@jrsanjuan1573

HE Bureau of Immigration (BI) announced the arrest of 30 Chinese nationals who were caught illegally working in several establishments in Parañaque. The announcement was made after the taho (soy pudding)-throwing incident involving a female Chinese national and a local policeman.

BI Commissioner Jaime H. Morente said the Chinese nationals were found working without the required visa or permit, which is a violation of the Philippine Immigration Act.

Morente a lso war ned t hat more arrests would be made by the BI as it intensifies its campaign against illegal aliens.

“I cannot comprehend how these

illegal aliens can have the audacity to blatantly and openly work without the proper documentation,” Morente said. “We are serious in our drive against illegal aliens. You better follow the law, or face deportation.”

Those arrested were found working in 16 establishments at the Solemare Parksuites and Aseana Power Station, both in the vicinity of the Diosdado Macapagal Boulevard.

The arrest came after the bureau’s intelligence unit received a tip about foreign nationals illegally working in the area.

“Our intel has received anonymous information that numerous foreigners were working illegally in the area,” Morente said. “I immediately issued a mission order to conduct the arrests upon confirmation.”

Prior to the operation, the BI placed the subject establishments

under surveillance.

The Chinese nationals were caught working as cooks, hairstylists and vendors. “Most of them were working under a tourist visa,” the BI said. “Many were undocumented and were even overstaying.”

The arrested Chinese nationals are now detained at the BI Detention Center while they await deportation proceedings against them.

Meanwhile, Justice Secretary Menardo Guevarra said he would await first the report of the BI on the case of Chinese national Jiale Zhang, 23, who threw her taho at Police Officer 1 William Cristobal after she was prevented by the latter from entering a Metro Rail Transit 3 because she was carrying food.

Zhang is now facing direct assault and disobedience to an agent of authority before the Mandaluyong Prosecutor’s Office.

Developers of Mirej Hotel in Clark eye Legazpi City for expansion

C

LARK FREEPORT—Developers of the Mirej Hotel here are now eyeing the Bicol region for the location of another hotel with the iconic Mayon Volcano as its backdrop.

Medal Consortium Inc. (MCI)

founders led by Irineo Alvaro Jr., recently visited Legazpi City as a potential growth for his group’s resort and hotel development projects.

Alvaro was assisted by brothers Marc and Ric Mercado, Edwin Lim and Jeff del Mundo during the site

inspection of prospective properties for development.

Alvaro said the expansion plan is mainly inspired by the group’s soon-to-open 236-room Mirej Hotel inside this free port.

“Mirej will be the first green

hotel in Clark,” Alvaro said noting the hotel’s roof deck “will all be all solar.”

According to Alvaro, they believe Legazpi City has a fast-growing tourism industry with focus on adventure tourism.

“[MCI] will invest its egg into the nest, so vibrant and viable,” he added.

MCI is a conglomeration of five locally owned corporations.

Considered as the gateway to Bicol because of its relative proximity to

the provinces, “Legazpi City’s geographical location makes it an ideal place to expand our business,” Alvaro said noting the city has an airport, seaport, bus and rail terminals: “the city is accessible to all modes of transportation.” Ashley Manabat

A4

Monday, February 11, 2019 • Editor: Angel R. Calso

The World BusinessMirror

www.businessmirror.com.ph

South Korea, US sign new cost-sharing deal for US troops

S

EOUL, South Korea—South Korea and the United States struck a new deal on Sunday, increasing the share of Seoul’s contribution for the cost of the US military presence on its soil, officials said, after previous rounds of failed negotiations caused worries about their decades-long alliance.

Last year, South Korea provided about $830 million, roughly 40 percent of the cost of the deployment of 28,500 US soldiers whose presence is meant to deter aggression from North Korea. President Donald Trump has said South Korea should pay more.

On Sunday, chief negotiators from the two countries signed a new cost-sharing

plan, which requires South Korea to pay about 1.04 trillion won ($924 million) in 2019, Seoul’s Foreign Ministry said in a statement.

It said the two countries reaffirmed the need for a “stable” US military deployment amid “rapidly changing situation on the Korean Peninsula.” The ministry said the US

SOUTH Korean Foreign Minister Kang Kyung-wha, right, and Timothy Betts, acting Deputy Assistant Secretary and Senior Advisor for Security Negotiations and Agreements in the US Department of State, shake hands for the media before their meeting at Foreign Ministry in Seoul, South Korea, Sunday, February 10, 2019. AP PHOTO/LEE JIN-MAN

assured South Korea that it has solid security commitment for its ally and that it has no plans to readjust the size of its troops’ level in South Korea.

“We realize, the United States government realizes that Korea does a lot for our alliance and peace and stability in the region,” chief US negotiator Timothy Betts said in Seoul. “We are very pleased our consultations resulted in agreement that will strengthen transparency and deepen our cooperation and the alliance.”

The allies had failed to reach a new costsharing plan during some 10 rounds of talks.

A five-year 2014 deal that covered South Korea’s payment last year had expired at the end of 2018.

Some conservatives in South Korea voiced concerns over a weakening alliance with the United States amid a stalemate in negotiations with North Korea to deprive it of its nuclear weapons. They said Trump might use the failed military cost-sharing negotiations

as an excuse to pull back some of US troops in South Korea, as a bargaining chip in talks with North Korean leader Kim Jong Un. Trump told CBS’s Face the Nation on Sunday that he has no plans to withdraw troops from South Korea. During his election campaigning, Trump suggested he could pull back troops from South Korea and Japan unless they took greater financial burdens to support US troops deployed there.

South Korea media earlier reported that Trump demanded South Korea to double its spending for the US military deployment before his government eventually asked for 1.13 trillion won ($1 billion). Seoul’s Foreign Ministry said the US had called for a sharp increase for South Korean payment but didn’t elaborate.

Trump announced last week that he will sit down with Kim for a second summit in Hanoi, Vietnam, in late February. Their first summit in Singapore in June resulted in Kim’s vague commitment to “complete

denuclearization of the Korean Peninsula,” a term that his propaganda machine previously used when it argued it would only denuclearize after the US withdraws its troops from South Korea.

The US military arrived in South Korea to disarm Japan, which colonized the Korean Peninsula from 1910-1945, following its World War II defeat. Most US troops were withdrawn in 1949 but they returned the next year to fight alongside South Korea in the 1950-1953 Korean War. South Korea began paying for the US military deployment in the early 1990s, after rebuilding its war-devastated economy. The big US military presence in South Korea is a symbol of the countries’ alliance, forged in blood during the war, but also a source of long-running anti-American sentiments.

About 20 anti-US activists rallied near the Foreign Ministry building in Seoul on Sunday, chanting slogans like “No more money for US troops.” No violence was reported. AP

Thailand puzzles Arrests of Canadians over political in China unacceptable, surprises from royals says US ambassador B

T

ORONTO—The US ambassador to Canada said on Saturday her country is “deeply concerned” about China’s “unlawful” detention of two Canadians.

Ambassador Kelly Craft said in a statement to The Associated Press that the arrests of ex-diplomat Michael Kovrig and entrepreneur Michael Spavor are “unacceptable” and urged China to end the arbitrary detentions. It is her first public comments on the cases.

China detained the two Canadians on December 10 in an apparent attempt to pressure Canada to release Chinese executive Meng Wanzhou, who was arrested on December 1 at the request of US authorities.

Meng is the chief financial officer of the Chinese tech giant, Huawei, and the daughter of its founder.

The US wants her extradited to face charges that she committed fraud by misleading banks about Huawei’s business dealings in Iran.

Craft said the US Department of Justice’s criminal case against Meng is based solely on the evidence and the law.

“The United States appreciates Canada’s steadfast commitment to the rule of law,” she said.

Craft made no mention of China’s planned execution of a third Canadian.

China resentenced a convicted Canadian drug smuggler to death after the Meng arrest as part of an apparent campaign of intimidation and retribution against Canada.

Some analysts have said the US response to China’s arrests of the two Canadians has been muted. President Donald Trump himself has not commented on the Canadians. But US Secretary of State Mike Pompeo has, saying China ought to release them. W hite House Spokesman Sarah Sanders and the State Department have also issued statements of support.

“We urge China to end all forms of arbitrary and unlawful detentions and to

respect the protections and freedoms of all individuals in accordance with China’s international commitments,” Craft said.

Robert Bothwell, a professor at the University of Toronto, called Craft’s statement “tepid.”

“It doesn’t bespeak ringing support,” Bothwell said.

Beijing threatened grave consequences for America’s neighbor and ally after Meng was arrested at Vancouver’s airport.

Canada has embarked on a campaign with allies to win the release of Kovrig and Spavor and many countries have issued statements in support.

The two were detained on vague allegations of “engaging in activities that endanger the national security” of China.

They remain locked up without access to lawyers.

Meng is out on bail in Canada and living in one of her two Vancouver mansions awaiting extradition proceedings.

Despite the escalating frictions resulting from the detentions, trade talks between Beijing and the Trump administration remain ongoing.

The US has taken pains to emphasize that their trade talks are entirely separate from the US case against Meng. They have been doing so since Trump said in an interview that he might be willing to drop the charges against Meng as part of a trade deal with China.

Trump’s comment frustrated Canadian officials who have been adamant that Canada is following the rule of law and that Canada has an extradition treaty it must respect. A Canadian judge could deny the extradition request if it the charges are deemed political.

“The next time the US asks, Canada will be hard of hearing,” Bothwell said.

“Trouble with Trump and company is that they are entirely transactional. They don’t think ahead. And in this case, Trump’s own words will probably be enough to get the US extradition request denied.” AP

ANGKOK—A Thai political party swore loyalty to the king after its stunning decision to nominate the monarch’s sister as its candidate for prime minister backfired when the king called the move inappropriate and unconstitutional.

The statement of fealty comes as the country ponders a whirlwind on Friday in which Princess Ubolratana Mahidol broke with tradition proscribing the monarchy’s involvement with politics to become a candidate for the Thai Raksa Chart Party, only to have her brother, King Maha Vajiralongkorn, invalidate her action with a late night order.

Thai Raksa Chart’s statement said the party loyally accepted the king’s order and expressed deep gratitude to Ubolratana for her kindness toward the party.

Ubolratana, who is active on Instagram, did not directly mention the king’s order in a Saturday message, merely thanking people for their support and encouragement and insisting on her sincere desire to see Thailand progress with rights and opportunities for all its people.

Thailand’s March 24 election will be the country’s first since a 2014 military coup put in place a junta determined to reshape the political system to eradicate the influence of former Prime Minister Thaksin Shinawatra, whose allies have won every national election since 2001.

So it was not only a shock that Ubolratana was formally entering politics, but also that she was doing so in alliance with a Thaksin-backed party. Her candidacy would have pitted her against the junta leader and current Prime Minister Prayuth Chan-ocha, the preferred choice for premier of the pro-royalist military.

Thaksin has been in exile since 2008, two years after was ousted by the military in a 2006 coup. Thailand’s establishment has spent more than a decade trying to neuter his political machine through court rulings, constitutional rewrites and other changes to the electoral system. In addition to deepening political divisions that have flared into protests and street violence, the campaign has had little success. AP

www.businessmirror.com.ph

Economy BusinessMirror

Few firms use Internet for e-commerce–PSA

By Cai U. Ordinario

M

@caiordinario

OST firms use the Internet for business operations and obtaining information from the government, but not for e-commerce, according to the Philippine Statistics Authority (PSA).

In its 2015 Survey on Information and Communication Technology-Information Economy (IE) for Core ICT Industries, the PSA said 51.5 percent of ICT firms used the Internet to share information within their establishment, and 83.8 percent used Internet to obtain information from government organizations.

Only 14 percent or 13.5 percent use the Internet for buying or selling goods in 2015. However, this was a 2.4-percentage-point increase from 11.1-percent.

“E-commerce is the process of buying or selling goods and services through Internet protocol-based network,” the PSA said.

Further, most firms, or around 47.4 percent, use the Internet to obtain information from other organizations, followed by finance and accounting with 41.2 percent of establishments.

Uses of the Internet for firms include internal or external recruitment with 40.6 percent of firms; sharing or

distribution of information with other organizations, 39.8 percent; staff training, 31.6 percent.

Meanwhile, transactions with the government done online, include completing or sending forms online with 65.1 percent of the firms. ICT manufacturing industries, around 88.4 percent of them, use this type of transaction.

Making online payments to government organizations was the least among the transactions done by the IE establishments with Internet access.

More than three-fourths of the establishments at 75.5 percent in ICT manufacturing industries reported this type of transaction, the highest among IE industries.

Among the regions, the highest percentage utilization of e-commerce via Internet was recorded in the National Capital Region at 18.3 percent. However, non-utilization was reported in Autonomous Region in Muslim Mindanao.

E-commerce can also be undertaken through computer network channels other than the Internet. Of the total IE establishments, only 1.5 percent reported having used the medium, in which, the ICT sector exhibited higher percentage at 1.7 percent than the content and media sector at 0.6 percent.

Editor: Vittorio V. Vitug • Monday, February 11, 2019 A5

PHL bans Japanese pork products amid ASF scare

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) slapped a temporary ban on importing Japanese pork and pork products, as the deadly African swine fever (ASF) is feared to have spread in Japan.

Agriculture Secretary Emmanuel F. Piñol said the importation ban is part of the government’s measures to avert the intrusion of the ASF virus, which has the potential to wipe out the domestic hog industry, in the country.

“A written formal directive will be issued shortly on the imposition of the temporary ban against the entry of pork and pork products from Japan, which will be in effect while our Quarantine Officials are validating the reports with the OIE or the World Animal Health Organisation,” he said in a post in his official Facebook page.

Piñol said he has already alerted the Bureau of Animal Industry (BAI) regarding the import ban through Agriculture Undersecretary for Policy and Planning Segfredo Serrano.

The DA chief said all quarantine officers stationed in all ports BLOOMBERG NEWS of entry nationwide should implement the directive immediately.

“The Quarantine Officers are also advised to review their Quarantine Protocols, including the foot baths installed at the Ports of Entry and the monitoring of all meat products being brought into the country by tourists,” he said.

The Japan News reported that there have been seven confirmed cases of ASF virus, which were found at processed meat products in domestic airports in Japan since last year.

The spread of the ASF in China and recently in Mongolia has prompted the Japanese government to strengthen its quarantine

measures, the report added.

In fact, the ASF virus has not yet hit the domestic hog population in Japan, but it is currently addressing the outbreak of classical swine fever (CSF) that has rapidly spread in the past weeks.

Reports by Japan to the World Organisation for Animal Health showed that over 18,000 pigs susceptible to CSF are about to be culled. Japan culled around 8,700 pigs last year due to CSF. BAI data showed that the Philippines does not import any pork products from Japan at present. Japan exports beef products to the Philippines, BAI records showed.

A6

Monday, February 11, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Ensure transparency in public spending

A

FTER months of delay, lawmakers ended the budget drama on Friday when the 17th Congress ratified the proposed 2019 P3.757-trillion national budget. This came about after the bicameral conference committee approved on the same day a reconciled version of this year’s budget. Following its ratification, the annual appropriations will be transmitted to Malacañang for President Duterte’s signature.

Lawmakers junked the cash-based budget system of the Department of Budget and Management, saying this will do more harm than good. Instead, they went for the obligations based budgeting, which allows appropriations and obligations until the next fiscal year, extending the validity of funds to two years.

The 2019 budget contains insertions made by lawmakers called “pork” insertions. Sen. Panfilo M. Lacson Sr., who has expressed his disapproval of pork-barrel funds, has asked the President to remove the “pork insertions” in the budget by using his line-item veto power.

For fiscal year 2019, the education sector will get the lion’s share of the national budget. Based on the budget documents, the House of Representatives introduced P20.65-billion realignments while senators made P25.4-billion insertions or a total of P46.35 billion.

At the Senate, 15 senators voted in favor of the ratification of the bicam report on the spending bill, while five voted against it: Senate Minority Leader Franklin M. Drilon, and Senators Lacson, Risa Hontiveros, Paolo Benigno A. Aquino IV and Francis N. Pangilinan.

In a privileged speech clarifying his vote, Drilon cited reports that all senators were unfairly accused of getting P3 billion each in porkbarrel allocations. “There were previous reports that one province in Visayas will get P3.3 billion in infrastructure projects,” said Drilon, adding: “Mr. President, I deny and take exception to these allegations. I want to make of record that the province referred to is not my province of Iloilo.”

Lacson also took the floor on Friday to express “my dissent and disgust,” deploring multibillion-peso pork-barrel allocations for lawmakers in 2019 budget. Sen. Loren B. Legarda, cochairman of the bicameral talks that hammered out the final version of the budget bill, subsequently stood up to debunk Lacson’s denunciation of the “pork-laden” annual appropriations.

It was, indeed, a messy road the 2019 national budget had to navigate before its approval. Allegations of pork to further patronage politics notwithstanding, the people want to see all must-pass budgetary items included to help spur economic growth. In his budget message to Congress, President Duterte identified key budget priorities: funds for infrastructure development and expanding programs on human development; enhancing social services through expanded educational opportunities, universal health for all; continuing provisions for the people’s basic needs by ensuring food security and securing meaningful employment, among others.

If the 2019 budget blueprint includes all priority items identified by the President, we need to ensure that the funds will be properly spent. That’s one way for us to guarantee, for example, the success of the “Build, Build, Build” program, or ensure that everyone, most especially poor Filipinos, has access to health care. What’s important is for the Duterte administration to show transparency in managing all public expenditure.

Since 2005

BusinessMirror A broader look at today’s business

The workplace of the future Atty. Jose Ferdinand M. Rojas II

RISING SUN

T

HE influential figures at the World Economic Forum annual meeting in Davos, Switzerland, discussed global issues to find solutions for the world’s problems. One of the things that they talked about this year is the future of the world of work.

What changes are most likely to come? How can we prepare for these? What will be the trends of the future? These are just some of the questions that everybody needs to look into.

In other words, these are things that people need to be thinking about if they want to thrive in the future economic world. Let me summarize some of the meeting’s most important insights on this issue.

The first insight has to do with

hiring employees. Alibaba’s Jack Ma stressed the importance of hiring people who are smarter than you (the employer). It is also important that they are positive, that they don’t complain, and that they never give up. The No. 1 rule,

Publisher Editor in Chief Associate Editor News Editor Senior Editors

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

Online Editor Social Media Editor

Ruben M. Cruz Jr. Angel R. Calso

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–San Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

John Flint, believes that survivors of mental health challenges are resilient and resourceful, and are therefore good for business. He said that the stigma needs to be broken and that more supportive workplaces have to be created so that everyone can thrive.

Finally, Allen Blue of LinkedIn shared his insight about the right way to build technology, which is a departure from how it has been built in the past. This time, instead of being designed almost exclusively by white males, he believes that more women should be recruited into technical roles so that machines can learn more efficiently and give unbiased performance. These are just some of the developments that we can expect in the near future as far as the world of work is concerned.

It would be helpful to study these insights in the context of the country’s labor situation.

Fall of fugitive ‘Batman’ puts global oil trading on the spot

By Sabrina Valle & Lucia Kassai Bloomberg Opinion

T

O his friends, Rodrigo Berkowitz lived within his means in a rented house in the suburbs of Houston.

The former oil trader for state-controlled producer Petroleo Brasileiro SA bought clothes in outlet malls and sent his two daughters to public school. For a family Christmas trip to Orlando, his plan was to drive the 960-mile route in their black Honda CR-V sport utility—because it was crazy to spend on plane tickets, he said.

✝ Ambassador Antonio L. Cabangon Chua Founder

according to Jack Ma, is to “help people be better than you are.”

IBM CEO Ginni Rometty talked about the new-collar workers, or those working within a new education and career model. It involves investing in skills development so that we can close the skills gap and be able to respond to the changes (100 percent of jobs will change, she said).

The traditional models used in recruitment, which involves hiring those with four-year and advanced degrees, will soon be a thing of the past. The new-collar workers are the workers of the future.

France’s Muriel Penicaud believes that people must be able to choose their own training program because when they can do this, they are also able to choose their future.

And so investing in this kind of training will benefit everybody. In the same vein, the CEO of HSBC,

So they were shocked when the news broke in December that Brazilian federal police had issued arrest warrants for about 15 former oil traders and intermediaries. While some of the suspects had surfaced in previous corruption investigations in Brazil, this time a new name came up: Berkowitz.

Brazilian prosecutors said that the 39-year-old trader was among a group of former Petrobras employees accused of taking more than $31 million in bribes from intermediaries linked to some of the biggest commodity-trading firms in the world—Glencore Plc., Vitol Group and Trafigura Ltd.—between 2011 and 2014. In exchange, the firms were fed more contracts at discounted prices.

Digging into popular culture for code names, Berkowitz was “Batman” while one former boss used “Phil Collins” and another “Flipper,” court documents show.

Carwash scandal

THE investigation is an outgrowth of the long-running Carwash bribery scandal in Brazil, which has so far ensnared scores of local business leaders, including several Petrobras executives and politicians, notably former President

Luiz Inacio Lula da Silva.

Now, Berkowitz’s case could potentially open a window into the opaque world of commodity trading, where firms buy and sell billions of dollars of raw materials and fossil fuels, often with little direct regulatory oversight. Brazilian police are seeking cooperation from authorities in the US, Switzerland the United Kingdom, Bahamas and Uruguay, which could expose the firms to widespread scrutiny.

The US Justice Department and Federal Bureau of Investigation have joined Brazil’s investigation, and American authorities could open a probe of their own, Filipe Pace, head of the Carwash probe, said in an interview in Curitiba, Brazil. The Justice Department declined to comment on Petrobras.

“We think there’s extensive evidence produced in Brazil for the US to open a formal probe,” Pace said.

“We want whoever is proven to have committed a crime to be prosecuted, in Brazil or in the US.”

‘Zero tolerance’

VITOL said it’s cooperating with Brazilian authorities and it would be inappropriate to comment on specific allegations.

“Vitol reiterates that it has a zero

Brazilian prosecutors said that the 39-year-old trader was among a group of former Petrobras employees accused of taking more than $31 million in bribes from intermediaries linked to some of the biggest commodity-trading firms in the world—Glencore Plc., Vitol Group and Trafigura Ltd.—between 2011 and 2014. tolerance policy in respect of bribery and corruption and, as stated previously, Vitol will always cooperate with the authorities in any jurisdiction in which it operates,” the company said in a statement.

Trafigura said it’s taking allegations seriously and denies management had any knowledge of the alleged scheme. Glencore said it takes ethics and compliance seriously, and that it’s cooperating with the investigation.

Informant visa

SUSPECTS are already cooperating with authorities. A Brazilian accused of being a middleman for the trading firms, who was briefly detained in Florida on December 20, is working with US authorities and has been granted a witness visa, Pace said. A former top Trafigura executive and ex-board member is trying to obtain a plea bargain in Brazil.

Berkowitz is also cooperating with US authorities and could potentially expose his allegedly illegal links to trading firms, according to a person with knowledge of the investigations, who asked not to be named because the information isn’t public. There’s evidence he was conducting illegal activities until a

Brazilian judge issued an arrest warrant for him in early December, the person said. Among the Petrobras officials targeted by Brazilian prosecutors, Berkowitz was the only one still employed when the accusations surfaced, while others have retired since the alleged crimes occurred.

‘Very proud’

E-MAILS intercepted by Carwash suggest strong links with executives at Vitol, Pace said.

“He brags in messages that no one had been able to negotiate with Vitol like he did,’’ Pace said of Berkowitz. “He was very proud of what he was doing.” The trader, who worked for Petrobras for 17 years, was fired on the same day the arrest warrant was issued, banned from entering Petrobras’s Houston office, and his belongings were shipped in a box to his home. He’s now considered a fugitive by Brazilian authorities.

His name has been placed on Interpol’s Red Notice list of individuals to be detained and extradited.

Berkowitz didn’t respond to phone calls seeking comment. Petrobras said it launched an internal investigation on December 5, which is still ongoing.

The charges against Berkowitz didn’t match the reputation he had at work in Houston. Peers praised his competence and organizational skills.

They saw him as a role model of ethical compliance in a company that’s been left traumatized after several former top executives were sent to jail since Carwash started in 2014.

Normal life

FOR a fugitive, Berkowitz seems to be living normally, according to people who have spotted him and See “Batman,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Monday, February 11, 2019 A7

It can be hard to explain Moving forward with Cipag why blackmail is wrong

By Stephen L. Carter

Joel L. Tan-Torres

Bloomberg Opinion

I

’M not sure why anybody, even the National Enquirer, would pick a fight with the richest man in the world. It’s one thing to write about Jeff Bezos having an affair. That kind of story has long been the Enquirer’s vile stock in trade. But to threaten Bezos unless he calls off the dogs—that is, reins in his own investigation of how the tabloid got its hands on his private text messages— well, that’s a mistake no self-respecting merchant of sleaze should make. Like the song says: You don’t tug on Superman’s cape.

That’s particularly true in a case like this one. If the facts are as Bezos describes them, then what the Enquirer has attempted certainly looks like blackmail. The e-mails from the tabloid that Bezos published at Medium demand that he drop the investigation or face publication of explicit photographs.

That would seem to be a textbook example of demanding a thing of value in exchange for refraining from an act that would damage his reputation—exactly the elements every budding lawyer learns for the bar exam. Sure, the Enquirer denies that it’s done anything illegal. What choice does it have? Even those of us who are hardline free speech supporters have to concede that the tabloid has crossed the line.

But blackmail is a funny crime: Theorists have trouble explaining exactly why it’s wrong, even though it seems intuitive that it is. A couple of examples will make the point.

Suppose mastermind says to victim: “I have uncovered some embarrassing facts about you. I’m going to publish unless you give me $10,000.”

That’s usually considered a crime.

Now suppose instead mastermind says to victim: “I have discovered embarrassing facts about you. I’m going to publish them.” That’s not a crime.

Suppose further that victim says to mastermind: “Wait! I’ll give you $10,000 if you don’t publish them!”

If mastermind accepts victim’s offer, that’s also not a crime.

See the difficulty? Blackmail laws prohibit threatening to do an act that’s not criminal. For this reason, scholars have spent years trying to puzzle out a set of blackmail-like threats that shouldn’t be illegal. For example, Einer Elhauge of Harvard Law School has suggested that “uncontrived” threats not be prosecuted.

These are, roughly, threats to do legal things that the threatener would likely do if the threat had never been made.

His prescient example is a reporter who has come up with “noncriminal embarrassing information.” If the subject decides he would rather pay than let the information become public, that’s all to the good: “An agreement to suppress the information is in the interests of both contracting parties, because the victim prefers paying the money to having the information divulged and the blackmailer prefers getting the money to revealing the information.”

The only people who might be harmed by the agreement, Elhauge argues, are third parties who would otherwise be able to discover the embarrassing information. But when the information is salacious, he correctly notes, the public interest is lowest. Statutes that outlaw these deals, he says, are “overinclusive.”

Batman. . .

continued from A6

asked not to be identified. They say they’ve seen him buying groceries at a Target Corp. store, eating at restaurants and taking his kids to parks in Texas.

Berkowitz’s father was arrested in Brazil and is accused of laundering at least 3.4 million reals ($910,000) for his son through an offshore account in Uruguay. Brazilian police traced bank records of the transactions and e-mails of the negotiations. They include payments from accounts in Switzerland to Uruguay.

His father confirmed the financial transactions but said he wasn’t

Blackmail laws prohibit threatening to do an act that’s not criminal. For this reason, scholars have spent years trying to puzzle out a set of blackmaillike threats that shouldn’t be illegal. For example, Einer Elhauge of Harvard Law School has suggested that “uncontrived” threats not be prosecuted.

Elhauge is far from the only theorist to suggest limits on what counts as illegal blackmail. What’s striking is how little influence these critical views have had on public policy. There’s no constituency in favor of softening blackmail laws, even to allow agreements that leave both parties better off.

Why not? Perhaps the Bezos case provides an answer.

The traditional economic analysis of blackmail holds that restrictions are needed because otherwise parties would overinvest in uncovering embarrassing information for the sole purpose of seeking payment not to publish it. By publishing the e-mails from the Enquirer, in all their grimy detail, Bezos is arguing that this is such a situation. The salacious photographs the Enquirer has threatened to publish have little value other than as a club to hold over his head.

Reading the e-mails, moreover, one has the sense that the tabloid was searching, rather desperately, for that club. Bezos’s investigation into how the Enquirer wound up with copies of private text messages seems to have stirred things up. Thus, the blackmail isn’t a simple request for cash in return for staying silent; it’s an effort to quash a process that has the editors running scared.

I don’t suppose any journalist, at any point on the food chain, would much enjoy being investigated by the subject of an article. If this were anyone other than the National Enquirer, I imagine that many in the news media would be decrying the intimidation attendant upon Bezos’s search for the tabloid’s source. But they’d be wrong. A subject has as much right to look into a reporter as a reporter does to look into a subject.

Now the Enquirer doesn’t dare publish, because doing so would look vindictive. The tabloid’s parent company has promised a full investigation of whether anything illegal occurred—which is pretty much running up the white flag.

Maybe it’s time for a victorious Bezos to offer the Enquirer a deal: I’ll drop my investigation if you promise never to mention me or any of my loved ones again. No doubt the Enquirer would cry foul. But the contract would leave both parties better off. aware they resulted from illegal activities, according to a petition filed to a court in Brazil’s Parana state. His lawyer, Joao Francisco Neto, said his release has been granted by a judge, pending a bail payment of 5 million reals, which the defense is disputing.

Vessel fuel

BERKOWITZ was among a group of traders empowered to negotiate deals to sell Petrobras oil products.

With a phone call, his group could close multimillion-dollar contracts with trading firms, which then would sell the product to end users.

Berkowitz was tasked specifically with selling Petrobras’s fuel oil, a byproduct of crude refining that’s mostly used to generate power or

DEBIT CREDIT Part Four

W

E proudly call ourselves Certified Professional Accountants. Focusing on the second word of our CPA title, we should consistently pursue professionalism in our dayto-day routine. What would it take to be a professional (the “P” in the Cipag series)?

This means working smarter to bring value to our practice or employment. We owe it to our clients or employers (and ourselves) to do our best in the work that we do. There is a tendency for some of us to be bogged down by the daily regimen of work that we do. This hinders one from making improvement and innovation in the way of doing things. This also can bring in boredom to work. The CPA is very capable of putting in measures to improve the productivity and outcome in work, including process improvement, use of technology tools, and managing time and relationships effectively.

The CPA should also be diligent in complying with requirements as a professional. These include updating the Professional Regulatory Commission (PRC) CPA license, complying with the Continuing Professional Development requirements and adhering to our Code of Ethics.

The PRC professional license is the document that provides testimony to a major accomplishment of passing the rigorous CPA examinations. All of us can remember the year (and month) when we were then able to say for the first time— “I am a CPA.” Whether we were part of the batch with a passing percentage in the low number or with passers nearing half of the takers, we all relished receiving our own PRC license with our own unique and permanent number corresponding to our slot in the chronological numbering of all CPAs in the Philippines. To date there are over 192,000 CPAs with each one having a designated CPA number that proclaims that the holder thereof is a member of a select group of professional accountants. Thus, it is imperative that the CPAs go through this responsibility of renewing the PRC license every three years. For those who have not renewed their

licenses for several years already, the process of updating these is not that burdensome and costly.

Our profession continues to undergo changes and developments.

What we know now will be obsolete in a few years, if not months. As such, the legal and professional requirement for CPAs to comply with the mandated Continuing Professional Development should be followed consistently. The present PRC and Board of Accountancy rules provide that CPAs should be able to complete at least 120 CPD hours over a threeyear period. Compared to other professionals, including engineers, architects and doctors, the CPD numbers for CPAs are much greater.

The reason for this is that CPAs in the Philippines are part of the global community of accountants under the International Federation of Accountants that mandates this 120 CPD-unit requirement. There have been complaints on the need for the CPD and the relatively substantial number of units required for accountants. I personally believe that as professional accountants, the CPD is important for us to grow professionally and be updated on the many developments. However, the Ifac has apparently recognized the complaints in the present CPD system and has recently proposed a revised framework that shifts from the numbers-based approach to a competence outcome-based direction.

More details can be read in http:// www.ifac.org/news-events/2019-01/ new-education-standard-focuses-professional-development. It is now the responsibility of the BOA to move

forward on the CPD track.

Another mandate that Filipino CPAs should be pursuing as members of the global accounting community in Ifac is adhering to the International Code of Ethics for Professional Accountants (the “Code”). As mentioned in the Code, the distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. A professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employing organization. The Code contains requirements and application material to enable professional accountants to meet their responsibility to act in the public interest. More information on the Code can be accessed in http://www. ifac.org/publications-resources/finalpronouncement-restructured-code.

We are proud to be with the select group of CPAs in the Philippines. We should be ready to show that indeed we are the professionals in name and in action.

To be continued Joel L. Tan-Torres is a Certified Public Accountant who placed No. 1 in the May 1979 CPA Board Examinations. He was the former commissioner of the Bureau of Internal Revenue from 2009 to 2010 and the chairman of the Professional Regulatory Board of Accountancy from 2014 to August 2018. He is a partner of Reyes Tacandong & Co. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com.

After 40 years, Iran needs a democratic revolution

F

By Eli Lake | Bloomberg Opinion

OUR decades ago, in the months leading up to the Islamic Revolution in Iran, the exiled Ayatollah Ruhollah Khomeini made many promises. He spoke about respecting the rights of minorities, democracy and equality for women.

Western intellectuals like the late French philosopher Michel Foucault praised Khomeini’s vision. In Iran, liberals and communists were happy to join with his followers to topple the corrupt regime of the shah. The charismatic Khomeini was saying what they wanted to hear.

Or, to put it another way: He was lying. Khomeini “was not locked into everything he had said” then, according to Abolhassan Bani-Sadr, the country’s first president after the revolution. Speaking in an interview this month, the former president said that Khomeini described the promises he made before he came to power as “convenient.”

That’s putting it mildly. Soon after declaring himself supreme leader, Khomeini abandoned almost all of his public pledges. In his 2016 book Democracy in Iran: Why it Failed and How it Might Succeed, the professor Misagh Parsa describes the postrevolution government of Khomeini as “an exclusive state” that “rejected the promise of democracy.”

The clerics and their enablers had a lot of work to do. They banned alcohol, and popular music on radio and television, and taking your dog for a walk in the park. They also launched a campaign of public cru-

elty, promulgating decrees to punish adulterers and other criminals with lashes and stoning. In 1988 there were mass executions of as many as 40,000 enemies of the state. Between 1979 and 2009, the regime arrested, imprisoned or killed at least 860 journalists, according to Reporters Without Borders.

To this day, state television broadcasts coerced confessions. It was just last summer that Maedeh Hojabri, a teenaged gymnast, confessed to the crime of posting videos of herself on Instagram dancing without the required hijab.

The cruelty extends to Iranians living abroad. The regime has been known to send assassins to Europe to murder opposition leaders; former Prime Minister Shapour Bakhtiar, who briefly led a reformist government in the last months of the shah’s regime, was stabbed multiple times in the chest in his Paris apartment in 1991. Just last week, Iran’s justice minister announced he would begin prosecuting the US-based journalist and activist Masih Alinejad after she met with US Secretary of State Mike Pompeo. She, too, stands accused of encouraging Iranian women to share videos of themselves taking off their hijab.

as fuel for large ships. It’s a volatile market: Hurricanes or refinery explosions can make prices spike unexpectedly.

For years, Berkowitz allegedly took bribes in exchange for giving trading firms contracts and a discount on fuel oil, according to a December 19 accusation by prosecutors made public on a court web site.

On Vitol’s deals, for example, Brazilian police traced more than 80 transactions for fuel oil and another product called VGO, or vacuum gas oil, that’s used by refineries, according to the indictment.

bribes—27 cents for Berkowitz and the rest for his peers, according to prosecutors. The money was diverted to offshore accounts in the United States, United Kingdom, Sweden, Switzerland and Uruguay, among other countries.

“With large volumes and tiny price variation they could generate millions in bribes,’’ prosecutors said in a court document.

The prosecutors say top executives from the trading firms had “total and unequivocal” knowledge of the graft.

At Vitol, police and prosecutors say the firm’s top executive in the US, Mike Loya, and Tony Maarraoui, who’s responsible for Latin America and the Caribbean, were “involved”

Trader’s cut

IN one of the transactions, participants shared $1 per barrel in

Soon after declaring himself supreme leader, Khomeini abandoned almost all of his public pledges. In his 2016 book Democracy in Iran: Why it Failed and How it Might Succeed, the professor Misagh Parsa describes the post-revolution government of Khomeini as “an exclusive state” that “rejected the promise of democracy.”

Meanwhile, as the state built by Khomeini is persecuting its citizens, it is enriching its leaders. In this regard, the Islamic Republic today is not very different than the corrupt regime it replaced 40 years ago. The army’s Revolutionary Guard, for example, also functions as a kind of criminal syndicate, controlling large chunks of the country’s economy. The current supreme leader and Khomeini’s successor operates a slush fund worth tens of billions of dollars, according to a 2013 Reuters investigation, built in part on assets the state seized from Iranian citizens.

Many Iranians now realize that their leaders are corrupt and inept.

Nationwide protests and strikes began in December 2017 and continue. Ordinary Iranians, at great personal risk, frequently register their dissatisfaction with their rulers in marches, with graffiti and on anonymous social-media accounts.

Iranians abroad, exiled by choice or by necessity, are beginning to plan and “gave consent” to alleged illegal transactions Berkowitz would have generated as a trader, according to court documents.

“It is too naive to think that such high-level executives had no knowledge of how the industry works and its dirty side and did not know they were authorizing bribes,” Pace said.

Loya and Maarraoui couldn’t immediately be reached for comment.

Brazil focus

LOYA and Maarraoui haven’t been charged in Brazil. Pace said his team is focusing on Brazilians and expects foreigners to be prosecuted by authorities in the US or other countries where they were based. That would be more efficient and increase the

for what comes next. Some dissidents are calling for a national referendum on the powers of the supreme leader.

No serious person believes Iran is a democracy. And yet, it is still possible to hear, in some quarters of Brussels and Washington, pleasant nonsense about the contest of ideas between Iran’s moderates and hardliners. Javad Zarif, Iran’s foreign minister, still sits for fawning interviews and pretends to be the envoy of a free country.

It’s a con that goes back 40 years.

On February 16, 1979, the New York Times published a column by a professor of international law at Princeton. The depiction of Khomeini “as fanatical, reactionary and the bearer of crude prejudices,” he wrote, “seems certainly and happily false.”

That op-ed was aptly titled, “Trusting Khomeini.”

Too many Western leaders continue to trust Khomeini’s successors. Even now, the European Union and former Secretary of State John Kerry are working to save the 2015 deal limiting Iran’s nuclear program.

They believe the Iranian regime’s promise not to build a weapon when much of the agreement expires in less than 15 years.

The good news is that millions of Iranians no longer believe anything this regime says. They have endured the terror, deprivation and cruelty unleashed by the Islamic Revolution 40 years ago. The least Americans and Europeans can do is to defend and support them and their struggle for a democratic revolution. chances of conviction, he said.

NGOs active in anti-corruption campaigns have been calling on regulators and Swiss authorities to investigate the use of middlemen to secure lucrative deals in oil rich countries.

In November, Global Witness called on the UK, US and Switzerland to examine the activities of Glencore, Vitol and Trafigura in Brazil.

Meanwhile, Berkowitz has left the rented home and moved to a twobedroom apartment in the same area, according to the people who know him. A posting on Facebook shows the family is selling furniture and appliances, including a French door refrigerator, “because it doesn’t fit in our apartment.’’

2nd Front Page BusinessMirror

A8 Monday, February 11, 2019

Rice imports to top 2 MMT in ’19 on liberalization–USDA

P

By Jasper Emmanuel Y. Arcalas

@jearcalas

HILIPPINE rice imports this year could reach 2.3 million metric tons (MMT), driven by stronger appetite from traders as they anticipate the full liberalization of the industry, according to the United States Department of Agriculture (USDA).

This would be the second consecutive year that the Philippines would be importing over 2 million metric tons of rice, as purchases from abroad last year were also estimated at 2.3 MMT, according to the USDA. Prior to 2018, the last time the Philippines imported over 2 MMT

of rice was in 2010, when the country suffered a shortage of the staple due to El Niño and typhoons, government data showed.

In the February iteration of its global grain market report, the USDA projected that the rice tariffication bill “would likely keep imports at robust levels.”

1.8 MMT Earlier forecast by the USDA of Philippine rice imports for 2019. It revised the figure to 2.3 MMT in anticipation of the enactment of the rice tariffication law

The legislation, which would convert to a tariff system the Philippines’ s two-decade-long quantitative restriction on rice imports, would encourage exporters, particularly Vietnam, to further supply Manila with its staple requirement, the USDA added. In fact, due to the rice tariffication bill, the USDA revised upward its import projections for the Philippines this year to 2.3 MMT from its earlier forecast in December of 1.8 MMT. Despite the revision in import forecast, the USDA maintained its

earlier projection on the local milled rice output at 12.15 MMT, slightly lower than the 12.235 MMT estimated production in 2018.

In the same report, the USDA hiked its forecast on the Philippines’s rice consumption and residual requirement this year to 13.65 MMT from 13.5 MMT projected in December. The new forecast is 400,000 MT more than the 13.25 MMT estimated rice utilization in 2018, according to USDA data.

Private traders have already applied to import at least 1.185 MMT of rice under the National Food Authority’s out-quota program, with the majority entering the country this year. The Department of Agriculture is targeting to reach a palay output of about 20 MMT this year, or around 13.08 MMT in milled rice terms at a 65.4-percent milling recovery rate. The country produced 19.1 MMT of palay last year, or equivalent to nearly 12.5 MMT of rice.

Lawsuit over budget possible–minority solons

By Jovee Marie N. dela Cruz @joveemarie

& Butch Fernandez

A

@butchfBM

RECOURSE to the courts remains in the cards for lawmakers from both chambers of Congress opposing some P75 billion in what they call “questionable insertions”in the P3.757trillion national budget for 2019.

The chairman of the House Committee on Appropriations on Sunday said lawmakers will question before the Supreme Court any veto mes-

sage that President Duterte’s close advisers may succeed in having him issue in their supposed bid to restore the insertions that they had already moved to realign during the final bicameral meetings to reconcile both houses’ versions of the bill.

Camarines Sur Rep. Rolando Andaya Jr., the panel chairman, said he will join Sen. Panfilo Lacson Sr. and Senate Minority Leader Franklin Drilon in questioning the insertions if Budget Secretary Benjamin Diokno and Cabinet Secretary Karlo Nograles make a move to restore the P75 billion in the

NORTHEAST MONSOON AFFECTING LUZON as of 4:00 am - February 10, 2019

budget of the Department of Public Works and Highways (DPWH).

According to Andaya, both the Senate and the House have realigned the P75-billion Department of Budget and Management (DBM) insertion.

“We knew that the funding source for the insertion was clearly pork. The infrastructure projects inserted by the DBM at 4 a.m. of July 22, 2018, were not vetted by the DPWH,” he said.

Congress is now preparing the transmission of the proposed 2019 General Appropriations Act (GAA) to the Palace for President Duterte’s

signature. The national budget was ratified on February 8 by the two chambers.

“In case the two Cabinet members succeed in this evil scheme of vetoing the 2019 GAB [General Appropriations Bill] to restore the P75-billion insertion, I will join Sen. Lacson and Sen. Drilon in questioning the veto message before the Supreme Court,” Andaya said in a statement.

“Sen. Ping Lacson is correct with his observation that the P75-billion insertion in the National Expediture Program [NEP] was a conspiracy between the DBM and the previous House leadership [of former Speaker Pantaleon Alvarez],” he said.

“I find it interesting how the DBM can maneuver to restore its P75-billion insertion in the final print of the 2019 General Appropriations Bill, which has already been approved by both the Senate and the House of Representatives,” he said.

“My unsolicited advice to Cabinet Secretary Karlo Nograles, the new spokesperson of DBM Sec. Ben Diokno: Be careful with the crafting of the veto message, for it will just lead back to where it all started. The public never forgets that you were part of the previous House leadership as chairman of the Appropriations Committee,” he added.

“I do not know where Sec. Diokno gets the gall to call the 2019 NEP, with DBM’s P75-billion insertion, as the President’s budget. The President is not part of the conspiracy between the DBM and the previous House leadership. It will be a great disservice and disloyalty for few Cabinet members to drag the President into this mess,” he added.

Andaya said it is Congress’ job to scrutinize the NEP as part of its budget-authorization function.

“Now that Congress has fulfilled its job in correcting the P75-billion gaffe, Sec. Diokno and Sec. Nograles are back to the drawing board to restore it in the 2019 GAA via a veto message,” he added.

Lacson’s lament

LACSON lamented over the weekend the multibillion-peso insertions seen as pork-barrel allocations but described as “institutional amendments” by other lawmakers.

“My intention was to bring out in the open each individual amendment because there were claims that these are institutional amendments, such as those in the Senate version,” he said in an interview on Saturday with DWIZ. See “Budget,” A2

www.businessmirror.com.ph

Our top 8 choices for foreign destinations Continued from A1

THE Kinkakuji Temple (Golden Pavilion) of Kyoto, reflected in the lake below. PHOTO FROM WIKIMEDIA COMMONS

For spring and summer, one can explore the countryside on bikes and tour wineries, while adrenaline junkies can go skydiving or whitewater rafting. The cooler season ushers in skiing and snowboarding, as Queenstown becomes a world-class winter resort.

2. Kyoto, Japan

THIS is still a place where you can lose yourself in time, walk the byways of ancient Japan (complete with drooping willows and cherry blossoms—if you time your trip right for Sakura season—and dramatic vermilion gates stretching up and down hillsides), while not straying far from a buzzing urban scene.

One of the most unforgettable scenes in Kyoto is of the famous Kinkakuji Temple (Golden Pavilion) surrounded by lush greenery, shimmering in its reflection in the lake below. Just three minutes away by car brings you to possibly the most peaceful place on earth, the Zen rock garden at the Ryoanji Temple, designated as a Unesco World Heritage site. Then visit the Gion district to get a glimpse of geishas in training. Kyoto is just 15 minutes away from Osaka via the Shinkansen (bullet) train.

3. Phnom Penh, Cambodia

THE seat of today’s modern Kingdom of Cambodia, and thus the home of the Royal Palace with its quietly powerful ensemble of pagodas and royal pavilions (e.g., The Royal Palace and Silver Pagoda). Phnom Penh was once a languid oversized town on the banks of the Mekong and Tonle Sap rivers during the painful Khmer Rouge era, and its museums still depict the horrors of that time (i.e., the “killing fields”). A must-visit is Ankor Wat, a Unesco World Heritage site in Siem Reap, and just a 45-minute flight from the capital, or 5.5 hours by bus/minivan/taxi.

No longer quiet, the 21st-century capital is now a busy and bustling economic hub that loudly proclaims the arrival of Cambodia on the economic frontlines of the region. Its streets teem with life, its boutique hotels pamper guests with style and hospitality. It is soon to be linked for the first time by nonstop PAL flights from Manila, starting April 2019.

4. Budapest, Hungary

LIKE ultra-compatible twins, the cities of Buda and Pest hug the blue Danube River with a graceful embrace, enchanting visitors who want a picture-perfect vacation spot that is also a true “happening place” with quaint hotels, a vibrant night scene, monuments and museums, the whole buffet of city attractions. Buda is perched dramatically on Castle Hill, offering a medieval vibe and great vistas of the flat cityscape of Pest, which is the urban heart of the Hungarian capital.

This lovely city used to be a grimmer place in the Communist years when Hungary was part of the Warsaw Pact bloc of Soviet satellite countries, but “grim” simply doesn’t apply to the exuberant Budapest of today. A quick way to see some of Budapest’s unique sites is to cruise down the Danube river in a waterbus.

Trinity Square, where its former town hall is done up in the baroque style, is ground zero for one of the best Christmas markets in Europe.

For wellness fans, check out the therapeutic steaming waters of the Szechenyl Thermal Bath.

(See, “The grand Budapest adventure,” in the BusinessMirror, December 18, 2017.)

5. Jaipur, India

IF Toulouse in France is Europe’s “Pink City,” then Asia’s rose-hued counterpart is a thriving city of 3 million people in the heart of India’s Rajasthan state. Shades of pink predominate in the architecture of Jaipur thanks to a 19thcentury Maharajah’s decision to paint the city pink to welcome a British royal, but a multitude

of colors and architectural styles will charm guest explorers.

The sights include two Unesco World Heritage sites: the Amer Fort with its forbidding ramparts, which is just one of six“Hill Forts”that populate Rajasthan; and the Jantar Mantar, the world’s largest sundial. There is a water palace (indeed, a whole palace quarter), ancient gates, shimmering lakes, monuments and parks, arts and crafts shops. PAL will be relaunching its nonstop flight from Manila to New Delhi by the second quarter of 2019; you can then take a half-day drive (or short flight) to Jaipur.

6. Seattle (Washington) and Portland (Oregon)

EACH city is a destination in its own right, but you can take them as a twinned pair, just three hours’ drive apart in the romantic Pacific Northwest: Washington’s hi-tech hub on the beautiful Puget Sound, along with Oregon’s quiet and graceful city on the banks of the Willamette and Columbia Rivers. Both cities are coffee lovers’ dream towns, and both are framed against the beauty of snow-capped mountains (Mount Rainier for Seattle, Mount Hood for Portland).

Portland has its extremely walkable downtown area with a parkland riverfront, while Seattle has its hills and lakes, the popular Space Needle (a fixture of Grey’s Anatomy’s opening sequences), and Pike’s Place Market, a haven of good eats and treats. Go on a techrich visit to Boeing’s aircraft plant in Everett or Museum of Flight in suburban Seattle (Microsoft and Amazon are also headquartered in the Seattle area, not to mention Starbucks) or bask in a sea of roses at Portland’s Rose Garden.

7. Rio de Janeiro, Brazil

REALLY far away but more accessible than you think—Brazil does not require a visa for Filipinos to visit. Rio is tops for visual drama, of the proverbial “take-your-breath-away” kind: a stunning landscape of lumpy hills and mountains ringing a sprawling natural harbor with lots of coves and inlets and a luscious curving shoreline. Throw in a populous city that clings to that shoreline and climbs up the multiple slopes, and you have one of the world’s most recognizable cityscapes, delighting visitors who can choose from several mountaintop perches to view it from many angles: including the Corcovado lookout under the Christ the Redeemer statue (listed as one of the seven modern wonders of the world in 2007) and the Sugarloaf Mountain summit.

The Copacabana and Ipanema beaches retain their timeless allure, the downtown district throbs with life amid European style architecture during the day, a modern subway system allows tourists to move around the city smoothly enough, and the favelas (slums) are worth a look for the adventurous among you.

8. Sapporo, Japan

JAPAN’S home of the Snow Festival, that winter treat featuring incredible ice sculptures, is perhaps one of the true remaining winter wonderlands in a world beset by climate change.

But residents will tell you that the island of Hokkaido, of which Sapporo is the capital city, is a year-round feast for the senses, where lavender fields and summertime canal cruises combine with beer gardens, farm-fresh Hokkaido dairy products, exquisite cuisine and welcoming locals to produce distinctive vacation memories.

So file for those vacation leaves ASAP, and pack your bags. It’s time for some family bonding to any of these exciting destinations.

Visit the PAL web site for flight inquiries, or call 855-8888 to check available connections with flight partners.

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, February 11, 2019

B1

Petron out, Bloomberry in at benchmark PSEi P

By VG Cabuag

@villygc

ETRON Corp. was booted out of the 30-company Philippine Stock Exchange index (PSEi) as Enrique Razon’s Bloomberry Resorts Corp. returned to the benchmark index.

Bloomberry will replace Petron in the PSEi on February 18 based on the review of listed companies covering trading activity from January to

December 2018.

“The regular review of indices reflects the dynamic changes in company performance vis-à-vis the stan-

dards set by the Exchange. In turn, these indices represent the investment opportunities in the Philippine stock market,” PSE President and CEO Ramon S. Monzon said.

To qualify for inclusion in the PSEi, a listed firm should be among the top companies in terms of liquidity and market capitalization. A listed company should also have a free float level of at least 15 percent of its outstanding shares. The PSE also considers relevant financial criteria in the review.

Except for the Mining and Oil index, all other sectoral indices will see

changes in their composition.

The Financials index will lose Asia United Bank Corp, while the Industrial index will see the addition of Alliance Select Foods International Inc. and the exclusion of PetroEnergy Resources Corp., Dennis Uy’s Phoenix Petroleum Philippines Inc. and South Korean firm SFA Semicon Philippines Corp.

No new company will be added to the Holding Firms index but one company, Solid Group Inc., will be removed.

Philippine Infradev Holdings Inc. will replace Philippine Estates Corp.

Cebu Pacific eyes more Japan destinations

By Lorenz S. Marasigan

N

@lorenzmarasigan

AGOYA, Japan—Cebu Pacific is studying the possibility of flying into new destinations here, as demand for more flights between the Philippines and Japan continues to increase.

Cebu Pacific Japan General Manager Tomohiko Matsumoto said the company is evaluating its next expansion plan now that the airline is set to receive more jets through 2022.

“We always look at the points for possible new routes, but we have to study the capacity plus the Manila slots. We have to study how we make

the new routes in the Philippines successful,” he said in an interview here. He said his group is looking at two ports in Japan for expansion: Sapporo and Haneda.

“With the coming Airbus A321 neo, it will be physically possible for us to fly Sapporo,” Matsumoto said, explaining that Cebu Pacific’s older jets do not have the range for

Hokkaido flights.

Cebu Pacific is set to receive 12 brand-new aircraft in 2019—six Airbus A321neos, five A320 neos, and one ATR 72-600. Through 2022, the company will engage in a massive refleeting program that will upgrade old aircraft and add more fuel-efficient ones to end 2022 with 83 jets.

in the Property Index.

Chelsea Logistics Holdings Corp., another company of Uy, and Transpacific Broadband Group International Inc. are the newest members of the Services index, which will also see the removal of Melco Resorts and Entertainment (Philippines) Corp., which may be delisted soon.

Matsumoto added Cebu Pacific also plans to fly to Haneda, the premier airport in Tokyo, from Manila.

However, there are two issues hindering the airline from mounting flights to that airport.

“There are very tight slots in Manila; this needs to be negotiated between the Philippine and Japanese governments,” Matsumoto said.

He added Cebu Pacific is now currently lobbying for the airservices talks to expand the airservices agreement of Japan and

The PSE conducts an index composition review twice a year using the methodology and criteria identified in the index management policy of the Exchange.

Index-related data such as free float and index weights are available on a subscription basis. The results of the next review will be announced in August 2019. the Philippines for Haneda.

Currently, all 14 slots for Filipino carriers are utilized by Philippine Airlines. “We would, of course, love to because Haneda is the most convenient,” he said.

Japan is one of the most successful territories that Cebu Pacific has been flying to for over 11 years. It flies daily from Manila to Nagoya, Fukuoka, and Osaka, and twice daily to Narita.

Cebu Pacific likewise flies the Cebu-Narita route on a daily basis.

B2

Companies BusinessMirror

Monday, February 11, 2019

PSE STOCK QUOTATIONS

February 8, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

59 139.2 91.7 27.9 6.54 13.54 83.4 14 48.5 59.45 112.1 26.1 178.4 63.95 1.5 2.28 17.14 4.77 1.43 0.475 1.19 185 1,791 1.14

59.45 139.7 91.95 28 7.58 13.56 83.7 14.36 48.9 59.5 122 26.3 179 64 1.53 2.31 17.18 4.85 1.46 0.485 1.21 186.6 1,799 1.18

58.2 139.9 93 28.1 7.58 13.06 83.3 13.6 49.1 59.8 110.6 26.5 179.8 64.1 1.44 2.28 17.14 4.98 1.48 0.475 1.16 186.3 1800 1.18

59.45 140 93 28.1 7.58 13.6 83.9 14.4 49.1 60 122 26.6 179.8 64.15 1.64 2.32 17.18 4.98 1.49 0.475 1.22 186.3 1,800 1.18

58.2 138 91.6 27.9 7.58 13.06 83 13.5 48.55 59.5 110.6 26.1 177 63.8 1.44 2.28 17.14 4.75 1.48 0.475 1.1 185 1,795 1.18

59.45 139.2 91.7 28 7.58 13.54 83.4 14.36 48.9 59.5 122 26.1 179 64 1.53 2.28 17.18 4.85 1.48 0.475 1.21 186.3 1,795 1.18

2,000 2,628,240 1,880,590 138,400 200 4,998,100 1,340,180 42,100 306,600 5,210 210 126,800 134,050 44,800 2,277,000 35,000 1,400 110,000 39,000 330,000 6,885,000 4,560 25 6,000

117,005.5 365,417,444 173,568,751.5 3,871,470 1,516 67,273,104 111,768,947 585,132 14,981,320 310,310 23,340 3,348,355 23,924,173 2,871,732.5 3,536,360 80,390 24,044 526,980 57,940 156,750 8,241,160 844,901 44,900 7,080

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

1.39 37.7 0.247 20.7 72.9 367 27.2 7.19 3.7 1.32 6.2 11.18 47.55 6.35 16.38 91.05 16.58 16.42 6.59 11.74 7.71 95.5 1.04 316.2 49.2 16.32 12.68 0.22 1.51 13 2.15 4.77 2.9 0.131 146.2 1.74 2.53 71.1 80.05 2.47 16.08 8.3 9.51 18.42 8.84 0.98 1.4 130 1.83 4.32 3.23 6.01 41.5 3.2 12.88 1.78 6 1.39 29.95

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

0.85 25.9 926 62.5 13.78 6.55 0.81 1.43 1.43 7.48 12.42 12.86 3.82 0.235 1,094 6.18 65.35 5.6 5.03 0.63 5.32 15.5 0.57 4.91 0.039 2.77 1.18 1.37 441.2 1,000 165.1 273.2 0.255 0.335

1.4 37.75 0.255 20.75 73 367.2 27.4 7.2 3.71 1.33 6.24 11.2 47.85 6.4 16.5 97.2 16.98 16.44 6.74 11.78 7.73 95.55 1.05 316.8 57.95 - 12.78 0.224 1.52 13.02 2.19 4.87 3.03 0.133 148.5 1.75 2.59 74.95 88 2.49 16.1 8.35 9.52 18.44 8.99 1.01 1.42 139.8 1.84 4.33 3.29 6.1 42 3.21 12.98 1.79 6.15 1.4 30.3

1.38 38.1 0.255 20.7 73.5 370.8 27.4 7.69 3.7 1.35 6.54 11.18 48.55 6.4 16.6 91 16.9 15.88 6.84 11.9 7.75 96.9 1.04 324.8 49.25 11.4 12.82 0.208 1.4 13 2.13 4.8 3.02 0.131 147.1 1.77 2.55 60.05 77.95 2.57 16 8.39 9.42 18.66 9 0.97 1.42 139.8 1.75 4.33 3.24 6 41.5 3.18 13.38 1.72 6 1.41 30.45

1.4 38.2 0.255 20.95 73.5 371.2 27.4 7.7 3.7 1.35 6.65 11.3 48.6 6.4 16.6 97.8 16.9 16.44 6.97 11.9 7.75 96.9 1.07 324.8 49.25 16.32 12.9 0.239 1.55 13.04 2.2 4.83 3.02 0.137 149.7 1.78 2.59 88 90 2.57 16.38 8.4 9.75 18.68 9 1.02 1.44 139.8 1.83 4.33 3.24 6 41.5 3.25 13.7 1.81 6 1.42 30.45

1.38 37.7 0.246 20.5 72.9 367.2 26.75 7.18 3.7 1.31 6.19 10.82 47.3 6.4 16.38 91 16.5 15.88 6.59 11.72 7.45 94.5 1.03 314.6 49.2 11.4 12.66 0.205 1.4 12.92 2.12 4.8 3.02 0.13 145.8 1.74 2.55 60.05 76 2.44 16 8.3 9.2 18.32 8.84 0.97 1.4 126.1 1.75 4.33 3.23 6 41.5 3.11 12.88 1.72 6 1.39 29.9

1.39 37.75 0.255 20.75 73 367.2 27.35 7.2 3.7 1.32 6.2 11.18 47.85 6.4 16.5 97.7 16.5 16.44 6.74 11.78 7.73 95.55 1.05 316.2 49.2 16.32 12.68 0.22 1.51 13 2.19 4.8 3.02 0.13 146.2 1.75 2.59 71.1 88 2.47 16.1 8.35 9.51 18.44 8.99 1.01 1.4 126.1 1.83 4.33 3.23 6 41.5 3.21 12.88 1.78 6 1.4 30.3

1,048,000 752,400 860,000 1,242,400 129,610 222,890 808,900 17,755,900 15,000 27,710,000 973,800 1,644,800 1,076,800 200 582,900 410 3,700 1,610,900 179,100 2,470,400 207,000 364,130 4,124,000 397,410 700 876,800 232,500 25,500,000 34,813,000 589,500 728,000 2,324,000 4,000 1,440,000 471,850 2,826,000 21,000 21,420 10,640 46,902,000 397,600 222,500 2,668,300 3,507,500 2,700 196,000 1,845,000 530 1,027,000 2,000 22,000 15,000 5,000 25,636,000 2,423,100 826,000 1,700 217,000 37,600

1,453,100 28,414,405 213,150 25,764,085 9,470,753.5 82,212,750 21,975,470 129,490,132 55,500 36,722,140 6,253,456 18,411,550 51,774,670 1,280 9,626,188 ( 39,581 61,784 25,774,282 1,214,775 29,183,774 1,586,249 34,730,940.5 ( 4,345,000 125,851,690 34,465 13,326,882 2,970,892 5,683,080 51,691,280 7,659,566 1,566,420 11,155,750 12,080 188,430 69,401,812 4,969,680 53,590 1,686,134 862,859.5 117,107,050(21 6,404,276 1,861,771 25,261,776 64,838,276 24,009 195,910 2,600,140 66,970 1,845,750 8,660 71,100 90,000 207,500 81,723,570 31,597,370 1,471,520 10,200 305,800 1,136,970

HOLDING & FRIMS 0.86 26.45 927 63 13.88 6.58 0.83 1.44 1.45 7.5 12.56 13.1 4.98 0.241 1,095 6.19 65.4 5.74 5.95 0.66 5.36 15.52 0.58 4.93 0.041 2.79 1.2 1.41 499 1,010 165.4 279.8 0.265 0.34

0.85 27.35 932 63 13.8 6.5 0.85 1.43 1.45 7.35 12.6 13.1 4.8 0.249 1090 6.38 65 5.51 5.97 0.69 5.2 15.5 0.59 4.94 0.04 2.77 1.17 1.39 440.2 1000 163.1 279 0.26 0.38

0.9 27.35 932 64.05 13.86 6.58 0.85 1.44 1.45 7.5 12.68 13.2 4.8 0.25 1,108 6.38 65.6 5.51 5.97 0.69 5.39 15.62 0.59 4.96 0.041 2.79 1.18 1.42 441.2 1,010 166.4 280 0.27 0.38

0.84 25.8 921 62.5 13.62 6.5 0.85 1.41 1.43 7.32 12.4 12.8 4.8 0.238 1,090 6.19 64 5.51 4.99 0.61 5.2 15.46 0.57 4.91 0.039 2.71 1.17 1.39 440.2 985.5 162.9 273 0.255 0.33

0.85 25.9 927 62.5 13.78 6.55 0.85 1.44 1.45 7.5 12.42 12.86 4.8 0.241 1,095 6.19 65.4 5.51 5.95 0.66 5.36 15.52 0.58 4.91 0.04 2.79 1.18 1.39 441.2 1,010 165.4 278.2 0.265 0.34

43,414,000 254,400 295,600 1,059,000 6,829,400 39,700 7,000 2,925,000 2,166,000 1,456,400 1,865,200 1,575,800 1,000 710,000 49,585 13,600 1,752,970 100 5,000 1,461,000 5,151,100 3,764,500 319,000 11,335,000 7,800,000 253,000 87,000 61,000 110 261,250 346,100 4,600 9,740,000 56,700,000

37,464,490 6,647,165 273,801,100 66,653,791 93,907,262 259,891 5,950 4,180,220 3,124,180 10,852,477 23,273,818 20,602,212 4,800 171,190 54,481,520 86,260 114,105,050.5 551 27,850 918,100 27,074,107 58,406,212 183,820 55,821,210 310,700 695,200 102,460 85,740 48,452 261,364,437.5 57,107,322 1,282,600 2,562,900 20,103,650

(6,539.5) 21,066,750 (25,942,095) (108,985) (27,352,308) 48,559,354 1,785,900 770,740 (4,448,025) (391,919.5) 15,454 (11,900) -

(333,800) (5,373,740) 4,782,070 847,958.5 (9,164,784) (5,976,395) 14,208,114 11,100 992,230 659 (25,630) (32,030,435) 130,508.0003) 3,367,236 (554,489) 4,021,632 774,708 21,443,470.5) (80,220) (55,800,326) (70,982) 260,768 113,290 (6,271,890) 7,015,250 (2,554,030) 15,890 (1,142,045) 17,700 (312,780) ,122,770.0001) 5,790,760 (990,602) 5,794,775 44,370,510 (39,950) 21,310 (71,100) (90,000) 207,500 (4,921,180) 8,111,188 (75,715) (240,760) 30,940 (14,261,040) 2,484,804.5 (18,650,988) 32,500 2,241,320 5,822,156 (4,889,330) 1,225,986 56,120 29,692,148 19,691,718 2,510,524 (2,856,910) 94,265,045 7,534,461 (154,190) 12,750 347,700

PROPERTY

ARTHALAND CORP 0.88 0.89 0.92 0.92 0.87 0.89 1,136,000 1,001,010 ANCHOR LAND 10.58 11.08 11.1 11.1 10.58 11.08 1,900 20,946 AYALA LAND 44.9 45 45.2 45.25 44.85 45 10,289,800 463,286,315 116,822,725 ARANETA PROP 1.83 1.84 1.79 1.86 1.79 1.84 594,000 1,085,480 BELLE CORP 2.54 2.55 2.6 2.6 2.54 2.54 1,801,000 4,608,120 751,800 A BROWN 0.81 0.82 0.82 0.84 0.81 0.81 1,695,000 1,390,550 8,200 CITYLAND DEVT 0.89 0.91 0.89 0.91 0.89 0.91 4,000 3,580 CROWN EQUITIES 0.248 0.25 0.247 0.248 0.247 0.248 3,280,000 811,800 CEBU HLDG 6.4 6.42 6.32 6.4 6.1 6.4 126,200 803,052 666,868 CEB LANDMASTERS 3.93 4.1 4.08 4.1 3.9 4.1 2,152,000 8,547,100 (5,640,600) CENTURY PROP 0.475 0.48 0.485 0.485 0.47 0.48 11,530,000 5,461,450 33,350 CYBER BAY 0.415 0.42 0.41 0.42 0.405 0.41 1,520,000 630,500 4,100 DOUBLEDRAGON 23.8 23.9 23.2 24.4 22.95 23.9 1,208,300 28,719,550 6,511,700 DM WENCESLAO 10.08 10.1 10.26 10.26 9.86 10.1 1,012,500 10,210,331 99,868 EMPIRE EAST 0.5 0.52 0.5 0.51 0.495 0.51 834,000 415,810 EVER GOTESCO 0.13 0.131 0.131 0.131 0.129 0.131 460,000 59,820 FILINVEST LAND 1.56 1.57 1.58 1.58 1.55 1.56 19,965,000 31,166,800 (7,138,730) GLOBAL ESTATE 1.23 1.25 1.23 1.26 1.23 1.24 547,000 679,990 8990 HLDG 10.28 10.38 10.08 10.44 10.08 10.28 1,585,600 16,341,764 826,448 PHIL INFRADEV 2.24 2.26 2.27 2.27 2.23 2.24 2,470,000 5,547,740 (147,140) CITY AND LAND 0.82 0.85 0.86 0.86 0.82 0.82 64,000 53,440 3,280 MEGAWORLD 5.26 5.29 5.28 5.34 5.17 5.29 28,551,500 150,405,525 15,666,450 MRC ALLIED 0.43 0.435 0.45 0.455 0.435 0.435 29,660,000 13,145,650 (504,100) PHIL ESTATES 0.455 0.465 0.465 0.465 0.455 0.465 240,000 110,650 PRIMEX CORP 3.08 3.09 3.18 3.2 3.09 3.09 1,142,000 3,583,930 (64,890) ROBINSONS LAND 21.6 21.95 22.35 22.55 21.6 21.6 3,177,800 69,589,975 (23,004,025) PHIL REALTY 0.46 0.465 0.455 0.47 0.455 0.465 1,350,000 619,700 46,500 ROCKWELL 1.98 2.03 2 2.03 1.95 2.02 103,000 207,970 SHANG PROP 3.12 3.13 3.11 3.13 3.1 3.13 157,000 488,850 STA LUCIA LAND 1.38 1.39 1.45 1.45 1.39 1.39 2,728,000 3,824,790 SM PRIME HLDG 38.65 38.7 38.65 38.8 38.55 38.65 7,210,300 278,712,300 (11,873,570) STARMALLS 6.17 6.18 6.04 6.2 5.95 6.17 529,200 3,213,771 PTFC REDEV CORP 43.15 48 48 48 43.15 48 70 3,311.5 VISTA LAND 6.19 6.5 6.19 6.5 6.18 6.5 123,520,900 802,411,295 1,335,594

SERVICES ABS CBN 24.05 24.1 24.15 24.25 23.75 24.1 319,200 7,654,585 GMA NETWORK 5.8 5.81 5.8 5.85 5.79 5.81 475,500 2,763,450 MANILA BULLETIN 0.36 0.375 0.36 0.36 0.36 0.36 100,000 36,000 GLOBE TELECOM 2,010 2,030 2010 2,034 2,002 2,030 25,755 51,914,930 3,154,130 PLDT 1,238 1,240 1277 1,277 1,230 1,240 127,535 159,589,620 (3,512,005) DFNN INC 7.36 7.6 7.3 7.7 7.3 7.6 161,100 1,197,685 IMPERIAL 1.94 1.99 1.91 1.94 1.91 1.94 62,000 119,080 ISLAND INFO 0.133 0.134 0.134 0.135 0.127 0.134 9,390,000 1,233,700 ISM COMM 6.49 6.5 6.55 6.7 6.34 6.5 10,533,700 68,268,005 1,819,397 NOW CORP 3.3 3.31 3.23 3.37 3.23 3.3 2,827,000 9,378,020 (155,650) TRANSPACIFIC BR 0.44 0.445 0.46 0.46 0.44 0.445 18,550,000 8,303,000 79,400 PHILWEB 3.13 3.14 3.29 3.3 3.09 3.14 5,889,000 18,906,070 (4,525,360) 2GO GROUP 13.4 13.9 13.98 13.98 13.4 13.4 74,500 1,019,022 (34,750) CEBU AIR 90.95 91 90.5 91.2 90 90.95 98,170 8,881,001.5 3,892,177.5 CHELSEA 6.65 6.66 6.75 6.78 6.65 6.66 1,096,600 7,332,645 765,322 INTL CONTAINER 113.3 114 110.1 114.2 110 114 5,269,130 592,288,142 1,267,573 LBC EXPRESS 15.7 15.76 15.5 16 15.4 15.76 1,104,300 17,023,672 LORENZO SHIPPNG 0.8 0.83 0.8 0.8 0.8 0.8 1,000 800 MACROASIA 19.48 19.5 20 20 19.5 19.5 2,434,900 48,058,738 (5,574,594) METROALLIANCE A 2.07 2.11 2.13 2.13 2.06 2.11 251,000 521,370 METROALLIANCE B 2.1 2.28 2.08 2.1 2.08 2.1 36,000 75,070 PAL HLDG 12.7 12.8 12.8 12.96 12.6 12.7 117,700 1,493,738 HARBOR STAR 2.85 2.88 2.87 2.9 2.85 2.85 676,000 1,940,550 25,860 ACESITE HOTEL 1.32 1.34 1.36 1.36 1.31 1.34 49,000 65,150 BOULEVARD HLDG 0.066 0.068 0.065 0.07 0.065 0.066 287,960,000 19,447,430 42,200 GRAND PLAZA 11.12 11.4 11.6 11.64 11 11 4,500 52,004 WATERFRONT 0.75 0.76 0.75 0.77 0.74 0.76 2,766,000 2,081,980 CENTRO ESCOLAR 7.7 8.39 7.68 7.69 7.68 7.69 2,500 19,209 FAR EASTERN U 893 896 896 896 896 896 60 53,760 IPEOPLE 11.2 11.28 11.1 11.3 11 11.3 46,600 514,846 (13,204) STI HLDG 0.78 0.79 0.81 0.81 0.78 0.79 7,647,000 6,058,710 (712,200) BERJAYA 3.2 3.22 3.27 3.27 3.16 3.22 398,000 1,278,380 (83,200) BLOOMBERRY 12.06 12.18 11.56 12.48 11.28 12.06 39,681,500 481,435,820 2,726,958 PACIFIC ONLINE 9.33 9.57 9.3 9.34 9.3 9.33 30,300 282,484 LEISURE AND RES 3.35 3.4 3.45 3.45 3.32 3.35 252,000 847,900 (21,820) MANILA JOCKEY 4.73 4.86 4.86 4.86 4.86 4.86 3,000 14,580 PREMIUM LEISURE 1 1.01 1 1.02 0.99 1 7,695,000 7,726,400 924,480 TRAVELLERS 5.56 5.58 5.52 5.57 5.52 5.56 502,700 2,788,312 (405,168) METRO RETAIL 2.74 2.75 2.77 2.8 2.72 2.75 1,660,000 4,568,800 3,257,870 PUREGOLD 48.2 48.25 48.6 48.6 47.75 48.25 1,615,900 77,878,330 42,650,255 ROBINSONS RTL 87.5 87.8 87.6 89.4 87.6 87.8 602,830 53,022,846.5 31,116,092 PHIL SEVEN CORP 132.1 133 130.1 133 130.1 132.1 7,650 1,005,586 582,439 SSI GROUP 2.38 2.39 2.4 2.42 2.38 2.39 9,252,000 22,151,760 7,885,010 WILCON DEPOT 14.58 14.62 14.68 14.7 14.56 14.62 3,932,100 57,577,996 7,490,778 APC GROUP 0.465 0.47 0.465 0.49 0.46 0.465 19,140,000 9,150,150 4,800 EASYCALL 15.6 15.64 15 17.82 14.92 15.6 1,518,200 25,161,612 171,452 GOLDEN BRIA 352 354 360 360 346.4 352 1,450 509,860 IPM HLDG 7.18 7.19 7.1 7.19 7.1 7.19 13,100 93,224 PAXYS 3.41 3.6 3.6 3.6 3.56 3.6 3,000 10,760 3,640 PRMIERE HORIZON 1.26 1.27 1.36 1.37 1.24 1.26 110,448,000 142,017,300 439,670 SBS PHIL CORP 8.2 8.3 8.18 8.3 8.18 8.18 8,300 67,906

MINING & OIL ATOK 13 13.46 13 13.48 13 13.46 2,900 38,856 APEX MINING 1.52 1.54 1.57 1.57 1.52 1.52 2,991,000 4,603,220 (1,532,030) ABRA MINING 0.0022 0.0023 0 0.0022 0.0023 0.0021 0.0023 1 ,390,000,000 3,048,600 23,000 ATLAS MINING 3.02 3.08 2.97 3.1 2.97 3 1,095,000 3,304,960 (1,147,280) BENGUET A 1.34 1.48 1.48 1.48 1.48 1.48 1,000 1,480 COAL ASIA HLDG 0.3 0.31 0.3 0.3 0.3 0.3 30,000 9,000 CENTURY PEAK 2.12 2.14 2.15 2.15 2.11 2.12 253,000 536,380 DIZON MINES 8.28 8.5 8.65 8.65 8.1 8.5 17,400 143,490 FERRONICKEL 1.52 1.53 1.48 1.54 1.48 1.53 4,286,000 6,483,360 (35,680) GEOGRACE 0.315 0.32 0.33 0.345 0.315 0.32 14,590,000 4,813,950 2,500 LEPANTO A 0.127 0.129 0.13 0.13 0.127 0.127 1,720,000 221,050 LEPANTO B 0.128 0.134 0.136 0.136 0.136 0.136 80,000 10,880 MANILA MINING A 0.0083 0.0086 0 0.0083 0.0086 0.0083 0.0086 88,000,000 746,200 MARCVENTURES 1.14 1.15 1.1 1.17 1.09 1.15 3,093,000 3,527,790 NIHAO 1.12 1.16 1.17 1.17 1.12 1.12 558,000 632,070 NICKEL ASIA 2.88 2.89 2.87 2.97 2.86 2.88 10,540,000 30,650,750 5,888,370 OMICO CORP 0.75 0.76 0.72 0.76 0.68 0.76 3,730,000 2,756,050 ORNTL PENINSULA 1.01 1.03 1 1.04 1 1.01 480,000 491,850 10,100 PX MINING 4.38 4.39 4.23 4.4 4.19 4.39 4,168,000 18,002,940 (149,740) SEMIRARA MINING 23.65 23.7 23.9 24 23.6 23.7 687,900 16,326,265 (1,869,980) UNITED PARAGON 0.0078 0.0079 0 0.0085 0.0088 0.0078 0.0078 101,000,000 834,900 80,000 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 13,700,000 176,400 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 100,300,000 1,303,900 (11,700) PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 161,600,000 1,939,600 PHINMA PETRO 3.63 3.65 3.65 3.66 3.65 3.65 539,000 1,967,450 PXP ENERGY 14.06 14.1 14.18 14.22 13.86 14.06 3,247,200 45,432,518 (971,452)

PREFFERED

HOUSE PREF A 95.6 95.8 95.8 95.8 95.6 95.6 3,550 339,590 AC PREF B1 462 479.6 472 472 452 452 9,400 4,361,364 AC PREF B2 490 495 492 492 490 490 790 387,440 63,700 DD PREF 98.2 98.4 98.1 98.4 96.1 98.4 3,970 386,980 SMC FB PREF 2 971 990 990 990 990 990 220 217,800 GTCAP PREF A 902 930 910 910 900 900 100 90,250 GTCAP PREF B 899 900 900 900 900 900 110 99,000 LR PREF 1 1.01 1 1 0.99 1 5,000 4,990 MWIDE PREF 100 101.3 101.3 101.3 101.3 101.3 340 34,442 PNX PREF 3A 100.8 101.5 100.4 101 100.4 101 2,760 277,984 PCOR PREF 2A 970 990 990 990 990 990 10 9,900 SMC PREF 2B 75.1 75.45 75.45 75.45 75.05 75.05 24,580 1,844,741 SMC PREF 2C 76 76.1 76.4 76.4 76 76.1 29,210 2,221,401 SMC PREF 2E 72.15 73.5 73.95 73.95 73.5 73.5 420 30,924 SMC PREF 2H 73 73.5 73.5 73.5 73.5 73.5 1,830 134,505 SMC PREF 2I 72.35 73.5 73.3 73.5 73 73 78,580 5,763,958 14,650

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

20.6 5.7

20.65 5.83

20.75 5.78

20.75 5.85

20.5 5.78

20.6 5.83

135,900 270,500

2,797,280 1,571,509

WARRANTS LR WARRANT

1.96

SMALL & MEDIUM ENTERPRISES ITALPINAS XURPAS

4.55 1.78

1.99

2

2

1.95

1.96

69,000

135,240

4.65 1.79

4.73 1.66

4.73 1.83

4.55 1.63

4.55 1.78

396,000 28,814,000

1,828,700 50,585,150

EXHANGE TRADE FUNDS FIRST METRO ETF

119.5

119.8

120.9

120.9

119.4

119.8

12,840

1,536,753

209,076 50,870 (8,615,510) 119,458

www.businessmirror.com.ph

CLI leasing space to boost 2023 revenues

By Roderick Abad @rodrik_28

P

Contributor

ROPERTY firm Cebu Landmasters Inc. (CLI) expects a robust hike in recurring revenues over the next four years as rental space in its office and commercial developments is seen reaching over 200,000 square meters (sq m), accounting for 10 percent of the aggregate topline.

CLI President and CEO Jose Soberano III is upbeat on this 2023 projection as they complete other ongoing projects. These include the Base Line HQ, Latitude Corporate Center, The Plaza at 38 Park Avenue, Astra Centre Lifestyle Mall, Astra Corporate Center (2021), The Paragon Davao Lifestyle Mall, The Paragon Convention Center and Phase 1 of the Davao

Global Township.

Located on AS Fortuna Street in Mandaue City, Astra Centre Lifestyle Mall is its pioneering lifestyle shopping destination with a gross floor area (GLA) of 14,000 sq m It is set for completion in 2021.

The publicly listed company turned over last year a portion of the retail component of Base Line Cen-

ter—with an area of more than 2,655 sq m—to Robinsons Supermarket.

This expanded CLI’s GLA from 6,297 sqm to 8,952 sq m, or by 33 percent.

Once fully operational, such first mixed-use project will feature over 4,700 sq m and 5,900 sq m of office and retail spaces, respectively.

Merchandising areas are, likewise, offered in residential condominiums of the developer that contribute 500 sq m to 1,000 sq m to its GLA. “Our leasing business complements our residential developments, allowing us to provide complete and gratifying experience to the communities that we build and customers that we serve,” Soberano said.

The real-estate company also looks at generating more revenue streams from its ever-growing hotel portfolio. In fact, it stands to operate more than 1,000 hotel rooms within the next four years.

“With the continuous growth of the hospitality industry in the Visayas and Mindanao, demand for hotel rooms will definitely rise,” he said.

He noted the firm leads in address-

ing the needs of the market, particularly travelers, from hotel rooms to serviced residences. Operational this year is Citadines Cebu City—the first CLI hotel to be managed by The Ascott Ltd.—with a room inventory of 180 units. Other hospitality brands under TAL’s management are Citadines Paragon Davao, Citadines Bacolod City and lyf Cebu City.

CLI also struck a tie-up with the Radisson Hotel Group for the first Radisson Red in the Philippines. Such lifestyle brand targeted by the global hospitality chain for millennials will be located in Astra Centre.

CLI’s growth could be attributed to its successful diversification effort in high-demand real-estate sectors.

“Cebu Landmasters will continue to diversify its developments from horizontal and vertical residential offerings to mixed-use, hotels, office and estate projects,” Soberano said.

In 2003, CLI was incorporated and registered with the Securities and Exchange Commission, and has since completed over a dozen projects in the VisMin region.

briefs

E.R.C. TO HEAR PETITION EXTENDING N.G.C.P. STOCK LISTING

THE Energy Regulatory Commission (ERC) has set a hearing this month on a petition to extend the period for listing the shares of stock of the National Grid Corp. of the Philippines (NGCP).

The ERC, in its January 28 order, said it found the petition “to be sufficient in form and substance, with the required fees having been paid, the same is hereby set for determination of compliance with the jurisdictional requirements, expository presentation, pre-trial conference and presentation of evidence on February 20.” The NGCP filed its application last November. Lenie Lectura

AC ENERGY TO GROW OVERSEAS INVESTMENTS AC Energy Inc. is committed to grow its overseas investments to build a portfolio of 5 gigawatts of capacity, with renewables contributing at least 50 percent of total energy output.

AC Energy President Eric Francia said, “We have a very rich pipeline, currently focused on Vietnam, the Philippines and Australia.” AC Energy is currently building 410 megawatts of solar power in Vietnam and is looking at investing in wind-power projects with a capacity of anywhere between 500 MW and 1,000 MW. Lenie Lectura

NATL BOOK STORE PHASES OUT WAREHOUSE DEPT

THE National Book Store (NBS) phased out its warehouse department as it changed its business model. The Department of Labor and Employment (DOLE) said the bookstore and office-supplies store chain will no longer maintain its own warehouse for its goods in an attempt to reduce its expenses.

Labor Assistant Secretary Benjo M. Benavidez told the BusinessMirror in an interview that he met with an NBS official last week in preparation for closure of the said NBS department, which led to the retrenchments of the almost 60 workers operating it. Samuel P. Medenilla

PAL, A.N.A. CLOSE TO CLINCH SHARE-PURCHASE DEAL

PHILIPPINE Airlines (PAL) and All Nippon Airways (ANA) aim to close their share-purchase transaction within the first

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices fell last week, but the main index remained at the 8,000-point level with volume down after some investors went on a holiday for the Chinese New Year celebrations.

The benchmark Philippine Stock Exchange index (PSEi) fell 73.27 points to close the four-day trading week at 8,070.89 points.

The main index was down all week, except on Thursday when it slightly gained.

“January inflation came in better than expected, which saw the PSEi touch 8,200 the day after it was released. However, it was short lived as it could not hold that level, and eventually ended lower on that day,” said Christopher Mangun, research head at Eagle Equities Inc., said. “One thing that stood out this week was the constant foreign inflows even on days that the market ended lower,” he said.

Foreign investors were net buyers at P2.83 billion, while average daily trading was at P6.5 billion.

Among the subindices, only the Services index and the Mining and Oil index gained, while all others fell. The Services index rose 13.14 points to 1,619.34; the Mining and Oil index climbed 189.94 to 8,739.62; but the broader All Shares index fell 13.19 to 4,896.32; the Financials index was down 6.95 to 1,847.39; the Industrial index plunged 145.86 to 11,678.17; the Holding Firms index declined 72.23 to 8,033; and the Property index shed 7.91 to 3,997.85.

Gainers managed to edge out losers 136 to 99, and 17 shares were unchanged.

Top gainers were Macay Holdings Inc., Geograce Resources Philippines Inc., AbaCore Capital Holdings Inc., Millennium Global Holdings Inc., Keppel Philippines Holdings Inc. A and Concrete Aggregates Corp. B. Top losers were Premiere Horizon Alliance Corp., Chemical Industries of the Philippines Inc., Manila Broadcasting Co., Asiabest Group International Inc., Metro Alliance Holdings and Equities Corp. B, and Cemex Holdings Philippines Inc.

THIS WEEK

SHARE prices may continue its slide this week as investors are cashing on their gains made during the previous week.

“Breathers should soon take place to ensure a sustainable climb. With the status quo on interest rates already factored into prices, attention would switch to sequels on consumer price trend, starting with hints of higher February electricity generation charges and implementation of increased water tariffs from rebasing,” online broker 2TradeAsia said.

Analysts said traders will also base their movements on corporate financial results for 2018 as the Ayala-controlled companies start the financial reporting season this week.

“With local gauges already 20 percent up since 6,843 last November 13, anticipate breathers to set in to strengthen this climb. We laud the spate of foreign buying, but much could still change, especially with MSCI’s upcoming rebalancing on February 11,” the broker said. It sees immediate support for the main index at 7,950 to 8,000 points and resistance at 8,150 to 8,200.

STOCK PICKS

BROKER Regina Capital and Development Corp. (RCDC) advised to trade the range on the stock of Bank of the Philippine Islands (BPI) after it recently bounced back from its 150-day moving average support and has been moving towards its P95 per share resistance level.

“The momentum remains weak, prohibiting the stock to rally in the short-run. Strong buying appetite is required for the stock to break out of its sideways trend,” it said.

BPI shares closed on Friday at P91.70 apiece.

RCDC gave a hold recommendation on the stock of International Container Terminal Services Inc. (ICTSI). after its technical readings showed its uptrend remains intact despite the fall in prices. “The stock may experience pullbacks in the near-term as it approaches the overbought region. It also established its position above all of its moving averages,” it said.

ICTSI shares closed last week at P114 per piece. VG Cabuag

quarter of 2019. Based on a disclosure to the stock exchange, the parties are “targeting to close the transaction within the period from February 28, 2019, to March 15, 2019, subject to completion of their respective internal procedures.”Japanese airline ANA Holdings Inc. is investing $95 million into PAL Holdings Inc. to take a 9.5-percent minority stake in the Filipino carrier through the acquisition of the shares from Trustmark Holdings Corp. of billionaire Lucio C. Tan. Lorenz S. Marasigan

MUTUAL FUNDS

February 8, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 270.65 -7.83% 4.59% 4.41% 7.3% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5815 -2.6% 14.91% 5.51% 9.77% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.2066 -9.05% 6.69% 2.96% 7.78% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9618 -3.78% N.A. N.A. 8.01% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8874 N.A. N.A. N.A. 8.13% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.6429 -6.01% 4.61% 3.82% 7.05% MBG EQUITY INVESTMENT FUND, INC. -A 123.38 4.81% N.A. N.A. 5.94% ONE WEALTHY NATION FUND, INC. -A 0.8983 -9.32% -2.75% N.A. 7.92% PAMI EQUITY INDEX FUND, INC. -A 53.2111 -6.33% 5.91% N.A. 8.14% PHILAM STRATEGIC GROWTH FUND, INC. -A 553.34 -6.5% 4.42% 3.69% 7.5% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3396 -4.66% 6.18% N.A. 6.83% PHILEQUITY FUND, INC. -A 39.3728 -5.04% 7.03% 6.35% 7.48% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0561 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3752 -6.29% 6.79% 6.34% 8.4% PHILIPPINE STOCK INDEX FUND CORP. -A 897.95 -6.06% 6.63% 6.44% 8.38% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.92 -5.83% 4.02% N.A. 6.83% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3629 -5.74% 6.44% 4.85% 7.49% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0334 -6.47% 6.52% N.A. 8.29% UNITED FUND, INC. -A 3.7544 -2.88% 7.77% 5.41% 7.24% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 120.0751 -5.76% 7.79% 7.56% 8.42% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0008 -12.13% 8.71% 2.18% 7.72% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2209 -3.83% N.A. N.A. 10.48% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7414 -6.29% 1.25% 0.28% 5.46% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3246 -5.42% 3.88% 2.22% 5.22% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6861 -3.41% 1.82% 0.19% 5.59% GREPALIFE BALANCED FUND CORPORATION -A 1.3721 -6.32% N.A. N.A. 5.2% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9243 -3.6% 3.07% 3.18% 4.41% PAMI HORIZON FUND, INC. -A 3.6668 -6.4% 1.58% 2.24% 3.9% PHILAM FUND, INC. -A 16.6068 -5.37% 1.9% 2.26% 4.39% SOLIDARITAS FUND, INC. -A 2.172 -3.39% 3.44% 3.96% 4.81% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8558 -4.5% 3.3% 3.03% 5.6% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.006 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0038 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0035 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9763 -4.75% 2.86% N.A. 5.92% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03567 0.51% 0.23% 1.94% 1.19% PAMI ASIA BALANCED FUND, INC. -A $0.9743 -7.77% 5.12% 0.45% 4.07% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.5587 -2.73% 6.4% 2.6% 7.57% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0603 -4.88% N.A. N.A. 4.98% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 345.19 2.32% 2.1% 2.1% 0.53% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8717 -0.5% -0.32% -0.23% 0.67% COCOLIFE FIXED INCOME FUND, INC. -A 2.9871 5.45% 5.34% 5.28% 0.55% EKKLESIA MUTUAL FUND INC. -A 2.1462 1.91% 1.51% 1.85% 0.74% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2299 0.66% 0.37% 0.52% 0.93% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5987 -1.21% -0.41% 0.52% 2.19% PHILAM BOND FUND, INC. -A 3.924 -2.36% -0.92% 0.37% 0.11% PHILEQUITY PESO BOND FUND, INC. -A 3.582 2.56% 0.97% 1.13% 1.85% SOLDIVO BOND FUND, INC. -A 0.911 -0.4% -0.44% N.A. 2.06% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8326 1.36% 1.4% 1.57% 2.41% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5758 1.1% 1.07% 1.19% 2.33% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $450.56 1.52% 2.17% 3.08% 0.51% ALFM EURO BOND FUND, INC. -A Є214.12 0.39% 1.3% 1.58% 0.69% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1436 1.72% 1.22% 2.17% 1.58% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.025 0.81% 0.81% N.A. 0.81% GREPALIFE DOLLAR BOND FUND CORP. -A $1.6959 -2.7% -0.89% 1.11% 0.34% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0461 -0.84% -1.08% -2.31% 0.82% PHILAM DOLLAR BOND FUND, INC. -A $2.2152 0.55% 0.9% 3% 2.03% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0573115 0.82% 1% 1.89% 0.58% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9174 -1.68% 0.17% 2% 1.58% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 121.53 3.19% 2.02% 1.66% 0.57% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.001 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1854 2.17% 0.84% 0.58% 0.3% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2239 2.81% 2.34% 1.68% 0.4% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0185 1.9% N.A. N.A. 0.26%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018.

3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Monday, February 11, 2019

B3

BIR tapping $7.3-M Korean ODA for e-invoicing system

T

By Rea Cu

@ReaCuBM

HE Philippine government is eyeing a $7.3-million grant from the Korea International Cooperation Agency (Koica), in line with the implementation of the first phase of the proposed electronic invoicing (e-invoicing) system project under the Tax Reform for Acceleration and Inclusion (TRAIN) law, the Bureau of Internal Revenue (BIR) has reported.

A statement from the Department of Finance (DOF) on Sunday pointed out that the BIR is already in the process of preparing a feasibility study in cooperation with Koica for the implementation of the e-invoicing system.

BIR Deputy Commissioner Arnel SD. Guballa said that a Koica team visited the agency and the DOF last year to gather data in preparation for the feasibility study on the proposed Electronic Receipt, Invoice and Sales Reporting System.

In his report to Finance Secretary Carlos G. Dominguez III during a recent executive committee meeting, Guballa pointed out that the BIR has already identified the

Perspectives Philippines pharma: All set for continuous growth

T

HE Philippines is the 11th-most attractive pharmaceutical market in the Asia-Pacific region and the thirdlargest pharmaceutical market in the Asean, after Indonesia and Thailand. The country’s pharmaceutical industry is projected to grow by 4.5 percent annually over the next five years, reaching P164 billion in 2018 from P146 billion in 2014, representing the value output or production of industry, including research-based pharmaceutical and generic companies, according to IMS Consulting for the Pharmaceutical Healthcare Association of the Philippines.

The Filipino pharmaceuticals sector is one of the fastest-growing industries in the country and has grown year to year. Of the world’s Top 20 pharmaceutical companies, over 14 have manufacturing facilities in the Philippines. Business registration in the pharmaceutical industry in the Philippines is a growing and expanding financial opportunity, too. The pharmaceutical manufacturing sector is listed in the top 22 percent of the 240 sectors in the Philippines.

“The Philippines is growing in so many ways; with one of the youngest populations in Asia, rapidly increasing income and the ‘middle class’, foreign investment and business investment in outsourcing and technology operations and a large amount of overseas Filipino workers contributing large amounts to GDP from across the globe. The shift has been made from infectious disease to noncommunicable disease; with diet, alcohol and low exercise causing heart disease and other conditions to grow rapidly. Health-care products and medicines are in demand in the Philippines, but the cost and availability in an out-of-pocket market means many products are out of geographical and financial reach for many,” says Dr. Edward Booty, CEO, Allied World Healthcare, the Philippines.

The Philippines has a higher utilization rate of lower-cost generics than other Asia-Pacific countries with comparable GDPs. Generic medicine prescriptions by physicians have risen by 7 percentage points since 2011 (from 66 percent in June 2011 to 73 percent in June 2014), enhancing patient access to medicines.

The government’s bulk procurement of pharmaceutical products has also helped bring down prices of medicines to Filipino patients.

Changing manufacturing scenario

FOREIGN drug companies account for over 75 percent of the pharmaceutical market.

Some of the biggest foreign drug companies in the Philippines are Sanofi, Pfizer and GlaxoSmithKline. A huge growth in generic drugs made by domestic and foreign pharmaceutical companies in the Philippines has also been noted. The fastest-growing companies include Novartis’ generic arm Sandoz, Taiwan’s Orient Europharma and Getz Pharma of Pakistan.

In total, there are more than 500 drug traders, 700 drug importers and 5,000 drug distributors in the Philippines.

Over the years, the MNCs which had manufacturing plants in the country closed down their facilities, and began to import from corporate production centers abroad, or turn to local contract manufacturers. At the moment, only few pharmaceutical multinationals have manufacturing facilities in the Philippines. However, the ones with manufacturing plants find it cost-efficient to produce in the country. GlaxoSmithKline is one example which has sustained its manufacturing in the Philippines.

“The importation of medicines [and other goods] has been traditionally challenging in the Philippines, but a number of reforms are underway to streamline and improve this process. Manufacturing in-country is a request many countries make to improve the number of high-quality, local jobs—but a pharma manufacturer cannot fully decentralize their operations as that would remove economies of scale, and thus strategic choices will have to be made for global pharma as to whether

the market size, improved government relations and potential reduction of logistics and taxation costs would make economic sense overall,” comments Dr. Booty on the changing Filipino scenario.

While many multinationals abandoned the Philippines, the local manufacturing industry became livelier. The number of laboratories declined over the years, as many were not able to cope with technological advancement and increasingly stringent requirements, but the ones that survived are compliant with good manufacturing practices and on a par with the latest technologies.

In the same haste, pharmaceutical companies in the Philippines also undertake various activities in the course of their business operations, which require the use of IPR. As part of their worldwide R&D, originator companies are conducting clinical trials in the Philippines in an increasing number, such that the Philippines is now ranked third in South East Asia, next to Thailand and Singapore in terms of the number of pharmaceutical industry sponsored clinical trials, according to KPMG Report.

Government initiatives

THE Philippines government has doubled its efforts in improving the pharmaceutical market. This increased intervention under the universal health-care initiative and a growing acceptance of generic drugs has caused a shake-up in the sector. Adding to the complexity, optimistic growth forecasts indicate a huge potential for the private sector.

Talking about the various initiatives taken by the Philippines government in the pharmaceutical sector, Dr. Booty says, “The Philippines government grew their ‘Health for All’ program over the past few years, with various programs to improve digital services, deploy medical workers to rural areas, create integrated ‘Service Delivery Networks’ and combat a number of other health challenges. The pharma sector has seen a number of innovations, ranging from ePharmacy ordering, to local health data innovations, to cross-pharma access programs in lowerincome communities. Novartis and Allied World Healthcare are pioneering community health-care access models and financing schemes, helping connect communities to essential health-care support.”

Some of the initiatives taken by the Filipino government are: n BnB Project. The Philippine government established the Botika ng Barangay with the aim of increasing accessibility to healthcare products in rural areas where prices are 50-70 percent cheaper compared to leading brands. Botika ng Barangay refers to a drug outlet managed by a legitimate community organization (or nongovernment organization and/or the Local Government unit, with a trained operator and a supervising pharmacist. This provides primary, nonprescription generic drugs listed in the Philippine National Drug Formulary, and selected prescription drugs are sold/made available. n Republic Act 9502: Cheaper Medicine Act. Republic Act 9502 was enacted with the goal of better health outcomes for Filipinos by ensuring that quality medicines are accessible and affordable to as many Filipinos especially the poor. The law and its implementing rules and regulations enforce provisions that improve market competition and availability, contain costs, improve health-care provider and consumers behavior and, when instances so require, even regulate prices.

The excerpt was taken from the BioSpectrum Asia magazine, Volume 14, Issue 2. © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.

All rights reserved. Printed in the Philippines.

For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

list of 100 pilot taxpayers that will take part in the project, and conducted a consultative forum with stakeholders in 2018.

“The review of the final report and the terms of reference of the Asian Development Bankfunded consultants are now ongoing for the e-invoicing project,” Guballa said.

Under Republic Act 10963 or the TR AIN law, large taxpayers and exporters are required, within the next five years, to electronically issue their invoices and receipts, as well as report their sales data to the BIR at the point of sale.

In June 2018, the DOF reported that the Philippines proposed

three infrastr ucture projects for possible financing by South Korea, with a combined project cost of $191 million, namely: the $50-million loan to help fund the Project Preparation Facility for the National Irrigation Administration, including the Asbang (Davao del Sur) Small Reservoir Irrigation Project; $100 million for the New Dumaguete Airport Development Project; and the $41.13 million for the implementation of an Electronic Receipt and Invoice System, and Electronic Sales Reporting System.

In October of the same year, Dominguez revealed that the Philippine government was looking to establish an e-invoicing system

by 2020, which will allow for the implementation of a value-added tax refund system for tourists visiting the country, with hopes that it will be implemented in two years.

The Electronic Receipt, Invoice and Sales Reporting System is meant to help the Philippines improve its revenue-monitoring mechanisms.

Based on data from the National Economic and Development Authority (Neda), South Korea is the Philippines’s sixth-largest provider of official development assistance (ODA), with loans and grants provided to the country amounting to $570.60 million as of December 2017.

BOC updates rules on imported goods marking to protect public T HE Bureau of Customs (BOC) updated its rules on the marking of goods and their containers of foreign origin that enter the Philippines to protect consumers.

The BOC issued Customs Administrative Order 2-2019, strengthening the guidelines on the marking of imported goods and containers. The CAO took into account the adjustments made by the bureau in line with the modern practices of marking and monitoring.

“In so far as it was applicable, [there were guidelines under] memos 1958 and 1988. However, there were modern [practices] already that the said memos were not able to adjust to, thus, CAO 2-2019,” said BOC Assistant Commissioner Vincent Philip Maronilla.

According to the BOC, the CAO was issued to provide a more enhanced implementing rules and regulations on the process of marking imported goods and containers that enter the country under Republic Act 10863 or the Customs Modernization and Tariff Act (CMTA).

The CAO was signed by Customs Commissioner Rey Leonardo B. Guerrero on December 27, 2018, and Finance Secretary Carlos G. Dominguez III on January 29, 2019.

The CAO covers all goods coming from other countries that are imported in the Philippines for consumption unless otherwise exempted by other laws, rules and regulations.

“All goods of foreign origin imported into the Philippines or their containers, shall be conspicuously marked in any official language of the Philippines as legibly, indelibly and permanently as the nature of the goods or container will permit and in such a manner as to indicate to an ultimate purchaser or end-user or consumer in the Philippines the name of the country of origin of the goods,” the CAO read.

Also, if the imported goods are not marked at the time of importation, a marking duty of

AIM honors KPMG R.G. Manabat & Co. Chairman Emeritus Roberto Manabat with the AIM Alumni Achievement Award

T

HE Federation of Asian Institute of Management Alumni Associations Inc. (FAIM) recently honored Chairman Emer itus Rober to G. Manabat (RoGM) with an AIM Alumni Achievement Award (Triple A), the most prestigious recogni- MANABAT tion to be awarded to AIM graduates.

As of 2018, only 138 alumni have been conferred this prestigious recognition out of more than 40,000 graduates. This award is given only to illustrious individuals who have achieved outstanding performances in their professional, developmental and entrepreneurial professions.

Previously, RoGM was also awarded the 2018 Outstanding Professional of the Year in the field of Accountancy in recognition of his track record of over 40 years in the field, where he demonstrated professional competence of the highest degree.

He was the chairman and chief executive officer of the firm for 11 years, an adviser for top conglomerates in the country and has had extensive experience on corporate governance, internal audit, financial reporting and risk management, among others. He now heads the KPMG R.G. Manabat Foundation, KPMG RGM&Co.’s corporate social responsibility arm. He is also a member of the Board of Trustees of the Institute of Corporate Directors, an adviser on corporate governance and an independent director of leading companies in the Philippines.

5 percent of the dutiable value is levied on the shipment. No imported goods will be released without the proper marking.

“The failure or refusal of the owner or importer to mark the goods as herein required within a period of 30 days after due notice shall constitute as an act of abandonment of said goods and their disposition shall be governed by the provisions of the CMTA relative to abandonment of imported goods,” it added.

Its objectives are: provide guidelines for the marking of imported goods of foreign origin to indicate the country it came from; protect local consumers from deceptive practices of passing off imported goods other than its country of origin; and establish a system of monitoring the marking duty imposed and collected on goods making full use of information and communi-

cation technology.

Last month, the BOC issued CAO 1-2019 ordering traders to undertake prior to disclosure in their declaration of goods and a post-clearance audit, in a bid to strengthen its revenue collection capabilities.

CAO 1-2019 prescribes the policies and guidelines governing the conduct of post-clearance audit. It requires importers, customs brokers and other stakeholders to keep records.

It also indicates the establishment of a nonpunitive facility for importers to voluntarily disclose, or report any errors related to any goods declaration. The post-clearance audit, according to the BOC, covers the profiling or information analysis on importers. The profiling includes gathering data on and evaluating the operations of importers and exporters. Rea Cu

Green Monday BusinessMirror

B4 Monday, February 11, 2019

www.businessmirror.com.ph • Editor: Lyn Resurreccion

Asia’s forests fast receding

By Michael A. Bengwayan | Special to the BusinessMirror

T

he destruction of Asia’s forests continues at an alarming pace, averaging 1.8 million hectares a year, or 5,000 hectares a day. Frantic governments are instituting measures to arrest the rapid decline, but so far the success has been very limited.

Felled trees at a forest in the Cordillera.

This is the grim assessment of the United Nations Food and Agricultural Organization after a comprehensive survey of Asia’s forest resources. UNFAO conducted the survey with the United Nations Development Program (UNDP).

Deforestation is heaviest in Southeast Asia, which produces some of the world’s best timber.

According to the survey, Indonesia’s annual deforestation rate of 500,000 hectares is the highest in the region. Second is Thailand with 333,000 hectares; the range of between 100,000 and 150,000 for West Papua, Malaysia, India, Lao PDR, the Philippines and Burma.

These countries were among the Asian and Pacific nations covered in the study. The others were Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Nepal, Papua New Guinea and Vietnam.

End of virgin forests

The ravaging of forests is felt most by Asia’s closed or virgin

forests which totals over 300 million hectares. The survey said that from 1976 to 1980 alone, the total closed forest ravaged was more than 9 million hectares.

The figure leveled off in the next five years to 1.82 million hectares a year.

But even at this rate, Asia’s virgin forests were reduced to just more than 270,000 million hectares after year 2000. The region’s annual rate of deforestation of closed forests is between 0.60 and 1.2 percent.

From 1981 to 1985, the deforestation rate was its worst in Sri Lanka, Indonesia, Malaysia, Kampuchea and the Philippines; while there was a decrease in Thailand, Lao, Brunei and India.

The other Asian countries had either slight deforestation increases. But other countries turned from being wood exporters to timber importers.

Take the case of Thailand, to keep its sawmill industry rolling, the country has become increas-

ingly dependent on log exports.

From a net exporter, with depletion of forest resources, ban on exports and growing demand for wood, Thailand has become a net importer.

Sizable import of logs started in 1977 and increased even after 2000, mostly from Malaysia and Indonesia.

Loggers no longer are the only culprits

The UNFAO-UNDP study said unlike before, loggers are no longer mainly to blame for the rapid destruction of forests. The report noted that forest resources were ravaged faster in areas with high population density and where shifting cultivation have not been effectively stopped.

Popu l at ion pressu re on A sia’s existing forest resources i s u nd e n i a bl e. Unor g a n i z e d a n d s p o nt a n e o u s e n c r o a c h ments, squatting, migration by l o w l a nd e r s — m a n i fe s t at io n s of increasing demand for cultivable l a nd by t he l a nd less a nd u nemployed r u ra l poor —a re a l ready accou nt ing considerable for deforestation, war ned t he U N bod ies.

This form of deforestation is more prevalent in the Philippines, where almost all the culprits are landless tenants, farm laborers or just plain land speculators.

In Nepal, the population pressure on the hills has caused people to migrate to the plains and encroach into forestland.

Over in Thailand, unrest in neighboring countries has let loose a flood of refugees contributing heavily to deforestation.

Slash-and-burn agriculture or sh i f t i n g c u lt iv at ion a l so wrecks havoc to Asia’s forest resources. The practice is variously k now n throughout the region as kaingin, jhum, chena or podu. Available figures indicate that more than 75 million Asians depend on shifting cultivation for livelihood. The extent of forests affected is over 200 million hectares.

Shifting cultivation

Ex amples abound: In Bangladesh, jhuming is practiced by 26 tribes living in the Chittagong Hi l l Tracts reg ion, involv ing

almost a million people. The overall effects are loss of timber, water and soil, and the decline of the capacity of the land to produce agricultural crops.

In India, shifting cultivation is practiced in 12 states, where some 7 million people are involved in an area of more than 1 million hectares; the northeastern states of Arunachal Pradesh, Assam, Nagaland, Manipur, Mizoram, Tripura and Meghalaya account 80 percent of India’s shifting cultivation population.

Shifting cultivation is also practiced by more than 20 million Indonesians. However, it is confined on the islands of Sumatra, Kalimantan, Sulawesi, Maluku and Nusatenggara. Over 20 million hectares of forest have been adversely affected from the viewpoint of soil cover and soil fertility.

Timber...more timber

As Asia’s population increases, so does the demand for timber and fuelwood. And this, in no small measure, contributes to the destruction of forest resources. Estimates are that of all wood cut in Asia, over half for timber, onethird for fuel, most of which are consumed by the region’s poor. The oil-price hikes yearly is exacerbating the situation.

Logging operations, particularly in Southeast Asia, has been merciless, plus the fact that millions of hectares are being cleared of trees in Indonesia to accommodate palm-oil plantations.

The UNFAO-UNDP study said forests are major foreign-exchange earners by many cash-strapped developing Asian countries, but also asks “is it worth it?”

“No,” it concluded, because, “the full amount of export value cannot be viewed as representing a benefit to the exporting country.”

Simply said, no amount of money can ever compensate for the destruction done to the contribution forests do for humanity and the whole of creation.

Bengwayan has a master’s degree and PhD in Development Studies and Environmental Resource Management from University College Dublin, Ireland, as a European Union fellow. He is currently a fellow of Echoing Green Foundation in New York.

Third of Himalayan glaciers can no longer be saved

K

ATHMANDU, Nepal—One-third of Himalayan glaciers will melt by the end of the century due to climate change, threatening water sources for 1.9 billion people, even if current efforts to reduce climate change succeed, an assessment warns.

If global efforts to curb climate change fail, the impact could be far worse: a loss of two-thirds of the region’s glaciers by 2100, said the Hindu Kush Himalaya Assessment released last week by the International Centre for Integrated Mountain Development.

“Global warming is on track to transform the frigid, glacier-covered mountain peaks of the Hindu Kush Himalayas cutting across eight countries to bare rocks in a little less than a century,” said Philippus Wester of the center, who led the report.

The five-year study looked at the effects of climate change on a region that cuts across Asia through Afghanistan, Pakistan, India, Nepal, China, Bhutan, Bangladesh and Myanmar.

The area, which includes the world’s tallest mountain peaks, has glaciers that feed into river systems, including the Indus, Ganges, Yangtze, Irrawaddy and Mekong.

The assessment said that the impact of the melting could range from flooding from the increased runoff to increased air pollution from black carbon and dust deposited on the glaciers.

Saleemul Huq, director of the International Center for Climate Change and Development, an environmental research center in Dhaka, described the findings of the report as “very alarming,” especially for downstream nations such as Bangladesh.

Making communities drought resilient G EORGETOWN—The United Nations Convention to Combat Desertification’s (UNCCD) Drought Initiative is in full swing with dozens of countries signing up to plan their drought program.

The Drought Initiative involves taking action on national drought preparedness plans, regional efforts to reduce drought vulnerability and risk, and a toolbox to boost the resilience of people and ecosystems to drought.

“As of now we have 45 countries who have signed on to our drought program,” UNCCD Deputy Executive Secretary Dr. Pradeep Monga told Inter Press Service (IPS).

He said UNCCD is focusing more on a drought preparedness approach, which looks at how to prepare policy-makers, governments, local governments and communities to become more drought resilient.

UNCCD said that by being prepared and acting early, people and communities can develop resilience against drought and minimize its risks.

The agency’s experts can help countryparties review or validate existing drought measures and prepare a national drought plan to put all the pieces together, identify gaps and ensure that necessary steps are taken as soon as the possibility of drought is signaled by meteorological services. It is envisaged that such a plan would be endorsed and eventual action triggered at the highest political level.

“Drought is a natural phenomenon.

It’s very difficult sometimes to predict or understand when it happens or how it happens. Yes, prediction has become better with the World Meteorological Organization [WMO] so we know in advance that this year there can be more drought than last year so we can prepare communities better,” Monga said.

He said the more resilient communities are, the better they can face the vagaries of climate change.

“They can also preserve their traditional prac tices or biodiversity, and most importantly, they can help in keeping the land productive,” Monga added.

“This is also important to migration— whether it’s migration of people from urban areas to borders and then to other countries and regions. We believe that addressing drought, preparing communities, governments, policy-makers and experts better in drought becomes very relevant for addressing those issues which otherwise will have cascading effects,” he explained.

Monga spoke to IPS at the 17th Session of the Committee for the Review of Implementation of the UNCCD (CRIC 17), which wrapped up in Georgetown, Guyana, on January 30.

Minister of State in the Ministry of the Presidency Joseph Harmon said Guyana and the rest of the Caribbean are faced with their own problems with drought.

He said that Guyana is looking at the utilization of wells in the communities that have been hit the hardest.

Harmon said Guyana and the Federative Republic of Brazil have signed an agreement where the Brazilian army, working together with Guyana Water Inc., Civil Defence Commission and the Guyana Defense Force are drilling wells in at least eight major

indigenous communities in the southern part of the Rupununi.

“That will now allow for them to have potable water all year round and that’s a major development for those communities,” Harmon told IPS. “Here in Guyana we speak about the Green State Development Strategy and part of our promotion is that we speak about the good life for all Guyanese. So, when we are able to provide potable water to a community that never had it before, then to them, the good life is on its way to them.

“This is what we want to replicate in every part of this country, where people can be assured that drought will never be a factor which they have to consider in planning their lives, in planting their crops, in managing the land which they have again,” Harmon added.

UNCCD Executive Secretary Monique Barbut said droughts are becoming more and more prevalent. For this reason, she said it is even more crucial for countries to prepare.

“We see them more and more, and if you look at all the IPCC [Intergovernmental Panel on Climate Change] reports, we know that they are going to become even more severe and more frequent. This is the reality we are faced with, whatever increase of temperature we get,” Barbut told IPS. “We have been looking in UNCCD at what we do on drought. Last year, I did propose a new initiative to the parties because we noticed that only three countries in the world had a drought preparedness plan. Those three countries are the United States, Australia and Israel,” she added.

Barbut said while preparedness planning will not stop drought, it would mitigate its effects if it is well planned.

“We launched an initiative last year and we’ve got the resources to help 70 countries with their planning. They are now in the process of doing that exercise and we hope that at the next Conference of the Parties in October, we will be able to report on those 70 countries and extend it to the rest of the world.”

According to the latest report from the IPCC, without a radical transformation of energy, transportation and agriculture systems, the world will hurtle past the 1.5-degree Celsius target of the Paris Climate Agreement by the middle of the century.

Failing to cap global warming near that threshold dramatically increases risks to human civilization and the ecosystems that sustain life on Earth, according to the report.

To keep warming under 1.5 °C, countries will have to cut global carbon-dioxide emissions 45 percent below 2010 levels by 2030 and reach net zero by around 2050, the report found, reaffirming previous conclusions about the need to end fossilfuel burning.

Short-lived climate pollutants, such as methane, will have to be significantly reduced, as well.

More than 1.5 °C warming means nearly all of the planet’s coral reefs will die, droughts and heat waves will continue to intensify, and an additional 10 million people will face greater risks from rising sea level, including deadly storm surges and flooded coastal zones. Most at risk are millions of people in less developed parts of the world, the panel warned. IPS

Russian activists raise alarm about captured whales

M “All the countries affected need to prioritize tackling this upcoming problem before it reaches crisis proportions,” he said in an e-mail. Huq was one of the study’s external reviewers.

The study said that even if the most ambitious Paris climate accord goal of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) by the end of the century were met, more than a third of the region’s glaciers would be lost. If the global rise in temperature were 2°C (3.6°F), two-thirds of Himalayan glaciers will melt, it said.

The 2015 Paris Agreement was a landmark moment in international diplomacy, bringing together governments with vastly different views to tackle global warming. It set a headline target of keeping average global temperatures from rising by more than 2°C, or 1.5°C if possible.

According to a recent report by the Intergovernmental Panel on Climate Change, emissions of the most abundant greenhouse gas, carbon dioxide, would need to be reduced to a level the planet can absorb—known as net zero—by 2050 to keep global warming at

1.5°C as envisaged in the agreement.

The International Centre for Integrated Mountain Development said the study included work by more than 350 researchers and policy experts from 22 countries. It said it had 210 authors and 125 external reviewers.

The Kathmandu-based center said it receives donations from regional countries, non-regional countries such as Australia, Austria, Norway, Switzerland and the United Kingdom, and other international programs, such as the US Agency for International Development. AP

OSCOW—Activists are expressing alarm about more than 100 whales that are being kept in small, crowded pools in what environmentalists are calling a “whale prison,” off the coast of the Russian Far East.

The local court last week agreed to hear the activists’ lawsuit seeking to penalize officials who allowed the capture and demanding the animals’ release.

Activists first raised the alarm late last year when 90 belugas and 12 orcas were captured and placed in a marine containment facility.

Russian law only allows for the capture of whales for “scientific” or “cultural” purposes. But activists believe the whales have been captured for sale to foreign amusement parks.

Local animal-rights ac tivists say the cramped conditions and low

temperatures threaten the whales’ lives.

“There are very small chain-link pens, 12 to 15 baby whales are put there and have to be on top of each other,” said activist Nina Zyryanova. “Now it’s getting colder every day. Although these animals are native to the Arctic, they must move, hundred kilometers a day, to stay warm.”

The marine containment facility in Srednyaya Bay near Vladivostok has been investigated by Russian prosecutors who have already called the capture illegal.

Kirill Parkhomenko, assistant to the Vladivostok environmental prosecutor, said that four Russian companies caught the animals after they obtained a permit from the Federal Fishery Agency. The prosecutors believe the permit was obtained illegally because the companies cannot prove that they are engaged in any scientific or cultural activities. AP

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, February 11, 2019

Editor: Lyn Resurreccion • www.businessmirror.com.ph

I

Story & photos by Jonathan L. Mayuga @jonlmayuga

Asian Waterbird Census recorded only 2,188 birds.

Last year was worse. Bird count volunteers were able to record a total of 1,700 birds only.

t was cold, dark and awfully quiet when we left a resort in San Simon on a bus to the nearby town of Candaba. It was 5:30 a.m. on February 2, the World Wetlands Day (WWD).

The bus stopped in the middle of a highway surrounded by rice paddies on both sides.

From an unexciting bus ride, we got to experience an adventurous ride on carabao sled, sitting down tight and holding on firmly to avoid falling after every curve.

Occasionally, we heard chirping sounds from a distance, adding to our excitement.

As we drew near the area where hundreds of native and migratory birds flock during the migration season, the chirping sounds became louder and clearer.

“Look, there’s one,” Gregg Yan, an environmentalist and conservation communication specialist whispered to a blogger next to him. “ L o o k , t h e r e ’s a no t h e r,” a not her e xc ited tou r pa r t ic ipa nt , a bi rd ent hu si a st a nd a photog rapher sa id.

Finally, we reached the Paligui Wetlands within the famed Candaba Swamp, a haven for migratory birds and the biggest of such unique ecosystems in Luzon.

As the sun started to shine, more of our feathered friends were visible, flying above us. Suddenly, our feathered friends were all around us.

World Wetlands Day

Organized by the Department of Environment and Natural Resources-Biodiversity Management Bureau (DENR-BMB) and the Society for the Conservation of Philippine Wetlands (SCPW), the Media Wetland Exposure Activity held on February 1 and 2 was part of the country’s celebration of WWD. The WWD held every February 2 commemorates the adoption of the Convention on Wetlands in the Iranian city of Ramsar in 1971.

In 1999, by virtue of Presidential Proclamation 74, February 2 was also declared by the Philippine government as the National Wetlands Day. This year’s theme, “Wetlands and climate change,” highlighted the importance of wetlands, one of the world’s most threatened ecosystems.

Underscoring the importance of protecting and conser ving wetlands, Director Crisanta Marlene Rodriguez of the DENR-BMB said healthy wetlands provide natural solutions in coping with climate change.

According to the DENR-BMB, destr uctive human activ ities contribute to the degradation of wetlands. Besides destructive development projects, dump-andfill activities and indiscriminate dumping of garbage, water pollution, overfishing and exploitation of natural resources within wetlands threaten these ver y important ecosystems.

Ecosystem services

Peatlands, mangrove swamps and seagrass beds, in particular, are the world’s most effective carbon sinks, Rodriguez said.

“While inland wetlands like rivers and lakes absorb and store water from excessive rains and floods during the dry season, these wet lands slowly release stored water, minimizing droughts and water shortages,” she said.

Rodriguez underscored the importance of maintaining coastal wetlands because they act as protective buffer against storm surges and tsunamis, providing a shield to coastal communities.

“In times of and after most disasters, fully functional wetlands sustain communities by acting as a reliable source of food, fresh water and raw materials for livelihoods.

The multitude of benefits we get from these ecosystems are our natural wealth, but their potential for climate mitigation is largely undervalued,” she said.

Sadly, she said wetlands are often seen as “wastelands”—a place to be drained and burnt off.

“Not many know that when they are burned or drained, for example, for agriculture, they turn from being a carbon store to a carbon source, from flooding protection to cause of flood and from being a source of sustenance to cause of harm,” Rodriguez explained.

Paligui Wetland

A 135-hectare farmland within Barangay Paligui in Candaba, Pampanga, the Paligui Wetland is owned and managed by MIA. It is adjacent to the locally declared bird sanctuary called Candaba Swamp Wildlife Reserve that is owned by the former municipal mayor of Candaba, Jerry Pelayo.

T he SCPW is helping the members of MIA to protect and conserve the Candaba Swamp as a showcase for wetlands conservation with the support of R amsar Regional Center-East Asia Wetland Fund.

T he project is “an attempt to conser ve a por tion of the C a nd a b a we t l a nd s w it h t he primar y objective of increasing the awareness of its key sta keholders,” said A my Lecionnes, executive director of SCPW. Through the project, SCPW aims to provide baseline data and information for its management and conser vation, and to develop a management plan to increase t he capac it y t he members of MIA on sustainable farming practices.

MIA is currently composed of 75 farmers responsible for the water irrigation in the area, which covers 24 hectares of irrigation canals and dikes.

Intermediate egret Gregg Yan

Land conversion, climate change

T he DENR-BM B of f ic i a l s a id many wet l ands are t hreatened w it h e x t i n c t i o n b e c au s e o f m a ssive l a nd conversion.

Citing the case of the Paligui Wetland, she noted that vast portions of wetlands are privately owned and are used for food production.

Worse, wetland-cum-agricultural lands may eventually be sold by owners to real-estate developers to convert them into a human settlement.

In Barangay Paligui, a 70-hectare portion of the wetland adjacent to the bird sanctuary is being developed into rice paddies by the new owner after it was sold by the former owner.

Climate change is also being eyed as a contributory factor to the degradation of wetlands.

In the Candaba Swamp, farmers observe that the swamp dries up easily because of intense heat.

“It dries up easily, unlike before, when we used to enjoy fishing a lot,” said Gaudencio de Leon, president of Macagatal Irrigators Association (MIA).

“Especially now, a portion of the dike collapsed, so water goes out. We need it during this time of year for rice cultivation,” de Leon said.

On the other hand, during typhoon season, he said they have to cope with the challenge of f lash f lood as the Pampanga River overf lows because of typhoon-induced rain, he said.

Besides land conversion and climate change, other threats to Candaba Swamp are the resurgence of hunting or poaching of birds and excessive growth of vegetation, particularly water hyacinth.

Important bird area

The Candaba Swamp, also called Candaba Wetlands, is an important staging and wintering area for ducks and other threatened waterbirds.

It is one of the country’s 117 Important Bird Areas and a candidate for the Ramsar Site or Wetlands of International Importance.

The swamp is shared by four

B5

White egrets at the Candaba Swamp

Long-tailed shrike Gregg Yan

Bird watchers

towns in Pampanga and one town in Nueva Ecija. These are the Arayat, Candaba, San Luis, Santa Ana towns in Pampanga and Cabiao town in Nueva Ecija.

According to Joy Navarro, specialist of the DENR-BMB’s Caves, Wetlands and Other Ecosystems, the Candaba Wetlands is a complex of freshwater ponds, swamps and marshes with surrounding areas of seasonally flooded grassland, arable land and palm savanna on a vast alluvial flood plain.

Besides providing agriculture and fisheries a boost, a “healthy” Candaba Swamp helps mitigate climate change, as it acts like a sponge that absorbs overflowing water from the Pampanga River,

hence, mitigating potentially disastrous f lood.

“It is a backswamp of Pampanga River. Once the water level in Pampanga River rises over a natural levee, it overflows toward Candaba Wetlands, which is relatively lower than the levee. As there is no place for the water to drain out, it settles in the backswamp,” Rodriguez said in mixed English and Filipino.

International importance

According to the DENR-BMB, there are about 54 species of resident birds and 68 migratory birds recorded in Candaba Wetlands since 1940.

Because of its strategic location, the Philippines, being part

Not many know that when they [wetlands] are burned or drained, for example, for agriculture, they turn from being a carbon store to a carbon source, from flooding protection to cause of flood and from being a source of sustenance to cause of harm.”

—Rodriguez

of the Asian-Australasian Flyway, the DENR-Central Luzon and DENR Pampanga Office are pushing for its recognition as a wetland of international importance in Asia, by being listed as a Ramsar Site.

The Candaba Swamp satisfies at least three important criteria.

These include support to vulnerable, endangered, or critically endangered species or threatened ecological communities; support to plant and/or animal species at a critical stage in their life cycles, or provides refuge during adverse conditions; and support to 1 percent of the individuals in a population of one species or subspecies of waterbird.

The Philippine duck, Baer’s pochard, streaked reed-warbler are among the globally threatened wetland-dependent species that Candaba Swamp supports.

Downward trend

Over the years, the number of birds visiting Candaba Swamp had dwindled. Environment officials fear it is caused by the degradation of the swamp.

Migratory birds are ecosystem indicators. Birds stay longer in an area that can support their sustenance, feeding on fruits, fish and even small insects and mollusks their beaks could reach.

According to Ronald Estrada, Development Management Officer of DENR Central Luzon Conservation Development Division, the vast tract of land was formerly being used as a fishpond, which attracts native ducks and other migratory birds.

Before, thousands of migratory birds, or what the Capampangans call ibong dayo, visiting Candaba Swamp were recorded every year. This made the swamp a popular tourist destination, especially for bird watchers, bird photographers and nature trippers.

Because of massive land conversion, as of January 17, this year the

Ecotourism

Lecionnes told the BusinessMirror in an interview that they intend to promote ecotourism in Paligui as part of the project, which aims to increase awareness about the importance of wetlands.

Through various programs, they intend to promote homestay, bird-watching tour guiding, community or wetland tour guiding, vehicle service from Baliwag, Bulacan, and from Santa Ana and Mexico towns in Pampanga, and individual or group meal preparations to boost the income of the farmer-partners. “We have started providing training to some fishermen to act as bird-watching tour guides,” she said.

Besides bird watching, other attractions and activities in Candaba Swamp are “Wetland Walk,” a guided walk around the wetland and the scenic view of the rice fields with Mount Arayat in the background; exploring the various natural and human-made features of the swamp; hook-and-line fishing; carabao cart ride; and boodle fight meals.

Pledge of support

With its battle cry, “We are not powerless against climate change,” SCWP is highlighting its Communication, Education and Public Awareness efforts.

With the WWD 2019 event, a media exposure and birding activity, the DENR and SCWP hoped to rally the support of mainstream media practitioners and netizens, including bloggers, to help increase public awareness that will strengthen the protection of wetlands all over the country.

At the end of the activity, participants were asked to write a pledge, their commitment to help save wetlands in general and the Candaba Swamp in particular.

“I pledge to continue to write for the environment, communicate and help increase awareness to protect and conser ve our wetlands,” I said.

B6 Monday, February 11, 2019

WHICH FREEZER SHOULD YOU BUY? LOVE ALWAYS WINS AT MARRIOTT MANILA

L

OVE always wins at Marriott Manila, as they proudly celebrate all kinds of love with Valentine’s Day offers and rainbowinspired treats that embrace equity, inclusivity and diversity.

Dine under the stars on February 14 at The Deck (P5,175 net for two persons)

with a menu selection inspired from iconic lovers in fiction and history.

If you and your love are craving for an Asian feast, Man Ho is the best place to go for a special five-course menu for two this Valentine’s Day (P5,800 net per couple) on February 13 (dinner) and February 14 (lunch and dinner).

Marriott Café is the perfect bonding place for you r fa m i ly t h i s season of love. Aside from the wide range of choices from the buffet s pre ad , t he r a i nb o w room filled with sweets and colorful treats will make the kids and kids at hea r t del ighted!

Treat your family for lunch (P2,300 net) and dinner (P2,950 net) from Februar y 14 to 16 (d i n ne r on ly).

Enjoy your meal with Love Potions iced tea (P450 net per pitcher) with choices of Berries Te m p t a t i o n , F r u i t y Elixir and Sweet Antidote.

It’s a sweet spectrum of desserts with Valentine round cakes

(P850 net) and mini cakes (P250 net) gracing the shelves of Marriott Café Bakery.

Feeling a litt le fanc y and t h i n k i ng of h av i ng you r f r iend s over in the after noon? Greatroom’s a f ter noon h igh tea (P660 net), a nd its savor y a nd sweet t reats m a ke t he per fect conversat ion st a r ter.

If you’re pl a nn ing to st ay a l it t le bit longer, t he y a l so h ave g reat c o c k t a i l s t o a c c o mp a n y y o u a l l t hroughout t he n ight.

W hether you like your cocktail a little bit sweet, citrusy or even candied, you’ll definitely find the right drink at CRU. Try the Royal Highness, which is infused with blue pea f lower; or Negroni Sour with wild hibiscus tea or Candy Negroni with candy infused beefeater (P400 net each glass). Now for dessert, e xc lu sive ly of fere d on Febr u a r y 14, CRU ’s Love Heat (P600 net), m a d e of r a i n b o w s p on ge , he a r t chocolate bonbon, mango cremeux, compressed strawberr y, chocolate soi l , golden c hocol ate she l l a nd wild raspberry sauce, is the perfect berry-chocolate combination that’s devilishly decadent, extremely hard to resist, and Instagram-worthy, too!

For reservations and inquiries on Manila Marriott’s latest offers, visit www.manilamarriott.com.

E

VERY cubic feet of freezer space comes at a cost, but it can help save money in the long run. Take advantage of sales on meats and vegetables, and then freeze them to use later. For many others, home and business-alike, they end up buying way more than my refrigerator freezer can hold.

The fix? Getting a dedicated freezer.

Upright and chest freezers are the two basic choices for a standalone freezer in the market, and selecting either of the two really comes down to personal preference and space. These two appliances differ when you consider before shopping for one.

Chest freezers have around 20 percent more usable space than an upright freezer, and the temperature in a chest freezer stays consistent, since it doesn’t have a self-defrost system. Air doesn’t circulate as much in a chest freezer, which helps prevent freezer burn better than uprights.

If there is a blackout, the chest freezer will keep your food frozen longer than an upright. They also tend to use less electricity than uprights, but be sure to compare the rating label to see which models are more energy-efficient.

Upright freezers are easier to organize because they have shelves and take up less space. A 22-cubic-foot chest freezer uses a rectangle floor space of 2 feet by 6 feet, while an upright 22-cubic-foot freezer only takes up 2.5 feet by 2.5 feet of floor space. They usually come in a variety of finishes.

Though uprights are convenient, the temperature of door shelves are often warmer than the inside of the freezer.

Uprights are typically noisier than chest freezers.

In 2019, according to the global market research firm Euromonitor, Qingdao Haier has become the world’s largest brand of large household appliances for 10th consecutive years in terms of total global sales. Qingdao Haier’s sales of refrigerators, washing machines, wine cellars, freezers, smart air conditioners and other products continue to lead far ahead of other competitors.

In the Philippines Haier has partnered with Continental Sales Inc. (member of the LKG Group of Companies) to be its exclusive distributor for chest, beverage and wine coolers for more than 15 years. Haier products are available in all major appliance stores nationwide.

HOPPLER CELEBRATES A YEAR OF PROGRESS

L

AST year has been a promising starting point for online real-estate startup Hoppler with more cities to expand to, traders to connect with and clients to lead into their homes. Hoppler Chief Executive Officer Ramon Ballesca Jr. and his team are ready, nonetheless, to double their achievements this 2019.

Reflecting on hard work and dedication, Hoppler further strengthens its brand presence across new cities with its network of more than 600 active partner-members.

Recognitions are given to traders with outstanding performances in a kickoff party held on January 31 at the Manila House in Bonifacio Global City.

The following are Partner Broker of the Year Harold Vargas of HV Realty, Listing Partner of the Year John Rey Zulueta of Jones Lang LaSalle, and Real Estate Agency of the Year Re/Max Capital. Self-titled realtybusiness owner Robert G. Sarmiento was

conferred with the most prestigious Industry Leader Award.

Traders may now earn Continuing Professional Development credits through attending company gatherings and closing deals in the Metro. “There are many real-estate professionals in areas like Quezon City and Alabang. We want to show them how they can grow their business through Hoppler.”

Hoppler also adds recommendations from local banks to improve online operations.

Based on the rent or selling price of properties, buyers will now be able to assess the loan amount they are qualified for. These are what to expect for this year, according to Ballesca.

In 2018 more than 900 traders and 1,500 property owners had their online listing of properties with Hoppler. The company closed a deal with more than 150 individual traders and agencies, totaling more than 200 high-end property sales and leases from the secondary market.

FLY HIGH TO CEBU PACIFIC’S NEWEST AIRCRAFT Manuel Tamayo (left), transportation undersecretary for aviation; Lance Gokongwei, president and chief executive officer, Cebu Pacific; Jean Francois Laval, executive vice president for sales, Airbus Asia; and France Ambassador to the Philippines Nicolas Galey graced the newest Airbus A321neo in a ceremony. “On [the] average, we will be recieving one brand new aircraft per month, which we can use to increase capacity in key markets or even launch new routes....," Gokongwei said. NONIE REYES

PLDT TURNS OVER FOTON VAN TO 2018 GRAND RAFFLE WINNER Public school teacher Ronalyn Quinio (third from left) recently drove home a brand new Foton Gratour, one of the grand raffle prizes in the grand gathering of Gabay Guro. This is done in partnership with premier motor vehicle brand Foton. Hailing from San Pablo City, Laguna, Quinio has been teaching in Placido Escudero Memorial School for 11 years now. Quinio is among the 20,000 teachers who were present at last year’s grand gathering. Quinio, like many teachers from across the country, remains instrumental in changing the lives of today’s generation. “Gabay Guro, through our grand gathering, is a way for us to pay homage to the ones who have selflessly dedicated themselves in shaping the lives of our youth today,” PLDT Senior Vice President and Gabay Guro chairman Chaye Cabal-Revilla (second from left) said. Seen in photo is Cabal-Revilla leading the turnover of the van to teacher Ronalyn. Also in photo are (from left) Foton Assistant Vice President for Marketing Noelle Aujero and Quinio’s husband Victor Briñas.

Sports BusinessMirror

C1

| Monday, February 11, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

CASEY UP FRONT

CONDOLEEZZA RICE follows her chip shot to the 10th green of the Pebble Beach Golf Links during the third round of the AT&T Pebble Beach Pro-Am as Paul Casey puts together another solid round in the sunshine, rain, cold and wind that nets him a fiveunder 67 and quietly build a three-shot lead. AP

P

By Doug Ferguson The Associated Press

EBBLE BEACH, California—Bill Murray met a pair of baby kangaroos from the Monterey Zoo. Jerry Kelly tried to mimic the peculiar postswing moves of Ho Sung Choi.

Jordan Spieth sent players and fans along two fairways on a frantic search for his tee shot.

All that commotion on celebrity on Saturday at Pebble Beach, and Paul Casey missed it all.

He was over at Spyglass Hill, putting together another solid round in the sunshine, rain, cold and wind. Casey had a fiveunder 67 and quietly built a three-shot lead over Phil Mickelson going into the final round of the AT&T Pebble Beach Pro-Am. Mickelson delivered plenty of golf entertainment at Pebble Beach, particularly a wedge into 3 feet on the 13th for birdie and a 4-iron he crushed with the wind at his back to 4 feet for an eagle that turned his fortunes, led to a two-under 70 and put him in good shape for a shot to match Mark O’Meara’s record of five titles at the AT&T Pebble Beach.

Langer takes PGA Tour Champions lead

B

OCA RATON, Florida—Bernhard Langer eagled the par-5 18th for a four-under 68 and a one-stroke lead on Saturday in the Professional Golfers’ Association (PGA) Tour Champions’ Oasis Championship.

Langer rebounded from a bogey on the par-4 17th with the eagle to reach 12-under 132 at The Old Course at Broken Sound.

“It was sweet after making bogey on 17 from the middle of the fairway,” Langer said. “After making my first bogey of the week there, it was nice to finish with three perfect shots.”

The 61-year-old German star won the 2010 event and finished second last year, two strokes behind Mark Calcavecchia. Langer lives 10 minutes from the course.

“I know the golf course, know how to play it,” Langer said. “It’s a shot-maker’s course. You’ve got to drive the ball well and hit greens, and hopefully roll a few in. There’s no excuse if I mess up because I know how to play every hole. But the wind makes it very tough, always does, and the wind was up today, and it’s probably going to be blowing even more tomorrow.”

Marco Dawson was second after a 67, and David Toms (67) and Brandt Jobe (65) were two strokes back at 10 under in the first full-field event of the season. First-round leader Jesper Parnevik followed his opening 63 with a 72 to drop into a tie for fifth at nine under with Bob Estes (68), Tom Byrum (69) and Woody Austin (70).

Fred Couples was eight under after a 69.Retief Goosen was tied for 18th at six under after his second 69 in his senior debut.

Gary Nicklaus, also making his first tour start, followed an opening 67 with a 77 to fall into a tie for 49th at even par. The 50-year-old son of Jack Nicklaus is playing on a sponsor exemption. AP

“I thought anything in the 60s was going to be a heck of a round, and I was one shy,” Mickelson said. “But I’ve got a good chance going into tomorrow. I’m looking forward to it.”

History might be on Lefty’s side.

Casey, who was at 15-under 200, has never won in his three previous times with a 54-hole lead on the Professional Golfers’ Association (PGA) Tour. Those all occurred in the last three years, and while he was beaten by great closing rounds of great players, Casey shot twoover par or worse.

But that was the least of his concerns.

“I am having a blast,” said Casey, who last year rallied to win the Valspar Championship during the Florida swing.

He made his PGA Tour debut 18 years ago at Pebble Beach, missing the cut with Seth Waugh, now the chief executive of the PGA of America. He played again, and then he didn’t return for 16 years. Part of that was his European Tour membership, with events in the Middle East. Some of it was injury. Some of it was weather.

“There are two factors,” he said. “One is the weather. If you have great weather, this is one of the best places on the planet. And two, if you have the right partner, it can be wonderful. I can at least guarantee one of those elements.”

He is playing with Don Colleran, the chief

sales officer at FedEx, and they have a four-shot lead in the pro-am.

The other factor? Not so much.

Saturday began under a blue sky and a sunshine beaming down on the Monterey Peninsula. Those patchy clouds of the horizon were part of a painting. They moved in quickly, dropping temperatures 10 degrees, causing flags to whip and rain to spray.

That’s not what stopped Spieth.

He was tied for the lead after a birdie on the par-3 fifth hole and remained in range of Casey until the final six holes.

His downfall began with a shot on the 13th hole he yanked so badly he figured it was in the bunker on the left side of the ninth fairway. It wasn’t there. The ball in the first cut of rough? That belonged to Adam Scott’s amateur partner. Spieth even went down to the edge of the Pacific to look, and panic began to set in.

“Um, if you all could check around you for a ball, that would be really helpful,” he said.

With under a minute left in the new three-minute search, it was spotted 140 yards back toward the tee beneath a tree it struck.

Spieth made double bogey, and then another double bogey on the 18th hole when he pulled his tee shot off the rocks and into the ocean. He shot a 74 and went from in the hunt to eight shots behind. He didn’t feel he was

hiding the ball as well as the first two days, so it was a matter of time.

“It was going to bite me at some point,” Spieth said. “I didn’t necessarily deserve to be a couple under par at the time, and so it ended up kind of haunting me there.... I drove the ball well the last two days, and then today my driver just didn’t behave at all. It was a 150-yard spread on either side and that’s not good around Pebble Beach.”

Lucas Glover had a birdie-bogey finish at Monterey Peninsula for a one-under 70 and was at 11-under 204, along with Scott Piercy (69 at Spyglass Hill).

Casey was recently in the news for a tournament he didn’t play, the Saudi International, a new event on the European Tour that came under scrutiny for Saudi Arabia’s human-rights record and the recent killing of journalist Jamal Khashoggi.

He was on the original list of commitments without his approval, and said he was never going. Casey is an ambassador for the United Nations International Children’s Emergency Fund and has the logo on his golf bag, which he displayed on an Instagram post to confirm he was not playing.

“I stand firm on what I said,” Casey said.

He is more interested in what he can accomplish on Sunday at a tournament that, with reasonable weather and an enjoyable amateur partner, he has come to enjoy.

OH VERY CLOSE, BUT NOT QUITE N EW YORK—Yomif Kejelcha fell 0.008 seconds short of the indoor mile record on Saturday, winning the Wanamaker Mile in three minutes and 48.46 seconds on Saturday in the 112th Millrose Games at The Armory.

The Ethiopian star just missed the record of 3:48.45 set by Hicham El Geurrouj’s in 1997 in Ghent, Belgium.

“I’m very happy,” Kejelcha said through an interpreter. “I was very inspired when I was running, and I think it allowed me to feel that way.”

Kejelcha spoke about his desire to break El Geurrouj’s record leading up to the race. He said he looked up at the video screen after crossing the finish line and realized immediately he had not broken the mark.

“I came very close to it and I know I’m going to try to get it,” Kejelcha said. “I think I can break it.”

Edward Cheserek was second, and Calyton Murphy finished third. Konstanze Klosterhalfen won the women’s mile in a German-record 4:19.98 in her first trip in New York.

“When I came to New York I was very overwhelmed because it’s such a big city,” Klosterhalfen said. “To come here to this indoor track, I had confidence again because it’s a great atmosphere and also loud. I heard nothing

because it was so loud and amazing.”

Jamaica’s Kemoy Campbell collapsed while leading after 1,000 meters in the 3,000. Campbell was treated by emergency services personnel on the track for approximately 20 minutes before being taken to a medical facility.

Michael Saruni won the 800 in 1:43.98, with Donovan Brazier finishing second in an Americanrecord 1:44.41. Ajee Wilson won the women’s race in 1:58.60.

“It’s always a homecoming when I’m here. The crowd really makes me feel welcome,” Wilson said. “The surface is great and on top of that, the way the track is built, all the energy, all the noise, all the noise the fans [make], you feel it and [it] encourages you. It makes you want to run harder.”

Olympic champion English Gardner took the women’s 60 in 7.10, and Sharika Nelvis won the women’s 60 hurdles in 8.01.

Taylor Ewert won the women’s USA Track & Field championship mile race walk in a highschool record of 6:28.21. The 17-year old from Beavercreek, Ohio, set the previous record of 6:45.68 last year. Vashti Cunningham, the daughter of former National Football League quarterback Randall Cunningham, won the women’s high jump at 6 feet and 4 3/4 inches. AP

YOMIF KEJELCHA just misses world indoor record at the Millrose Games. AP

Spo

Business

C2 Monday, February 11, 2019

A

TASK force has been established by the International Boxing Association (Aiba) to investigate what they claim is a “rogue group of Kazakhstani individuals” after they offered to manage the qualification process and help organize a boxing tournament at the Tokyo 2020 Olympics in a letter sent to the International Olympic Committee (IOC).

In a statement following the first day of an Executive Committee meeting in Istanbul, Aiba accused the group of “misleading National Federations” and of further sabotaging the embattled governing body’s strained position within the Olympic Movement.

Aiba claim the Kazakh individuals are behind the letter, sent to IOC Sports Director Kit McConnell, and have tried to secure support for their position from the membership.

The task force has “commissioned with uncovering the parties involved in these disruptive activities and providing recommendations for disciplinary action.”

In the document, published by Aiba, the group stated that it is “our privilege to offer our support

THE Thunder’s Paul George shoots against the Rockets’ James Harden. AP

NBA RESULTS Utah 125, San Antonio 105 Indiana 105, Cleveland 90 Charlotte 129, Atlanta 120 Toronto 104, New York 99 LA Clippers 123, Boston 112 Memphis 99, New Orleans 90 Washington 134, Chicago 125 Oklahoma City 117, Houston 112 Orlando 103, Milwaukee 83

George, Westbrook rally Thunder past Rockets

H

to the IOC for the management of the entire process to prepare a highly successful organization of the Olympic qualifying and competition events for boxing at the Tokyo 2020 Olympic Games.”

The group have also pledged to work alongside the IOC and Tokyo 2020 to ensure a boxing tournament is held at the Games in the Japanese capital.

It comes amid continuing uncertainty as to who will organize the Olympic competition after the IOC launched an inquiry into Aiba because of the ongoing issues with their governance, financial management and the integrity of its competitions.

The inquiry could end Aiba’s right to oversee and run the sport at Tokyo 2020, while the IOC has frozen all planning for the boxing event at the Games.

“In the light of the recent dire situation of the sport of boxing, we, an initiative [sic] group of National Boxing Federations, are seriously concerned about the current status of our sport and the future of thousands of our young boxers around the world,” the letter added.

Aiba has reacted angrily to the contents of the letter, which has been raised with the IOC, but claimed the National Federations contacted by

RAKHIMOV

the group have “openly rejected the validity of this proposal and encouraged unity within Aiba.”

“Concerns raised within the Aiba Executive Committee by these actions include intentional destruction of Olympic relations, lack of respect for the democratic election process from last year’s Presidential election and the attempted prolongation of suffering on National Federations due to the actions of these individuals who are putting their own personal interests above the sport of boxing,” Aiba said in a statement.

Aiba President Gafur Rakhimov was elected on a permanent basis in November after defeating Kazakhstan’s Serik Konakbayev in a head-to-head vote.

The election of Rakhimov, who remains on a United States Treasury Department sanctions list as “one of Uzbekistan’s leading criminals” but denies wrongdoing, has publicly been highlighted by the IOC as one of its main concerns with Aiba.

The establishment of the task force represents the latest crisis within Aiba linked to its place on the Olympic program remaining under threat and the subsequent IOC inquiry.

An update was given regarding the IOC probe at the Executive Committee meeting as Aiba reiterated its willingness to “cooperate with our Olympic Partners and will do our best to clarify any outstanding misunderstandings.”

The world governing body implicitly criticized the IOC, however, after the organization claimed “yet more information is being asked of the Aiba leadership.”

“Our boxers are waiting, they still don’t know when, where or how to qualify for the Olympic Games next year,” Rakhimov said. “They must be our priority. Insidethegames

Davao retains Mindanao leg overall crown

OUSTON—Paul George said it took a fiery halftime discussion to help the Oklahoma City Thunder overcome the largest deficit they’ve seen all season.

“We just knew we had to have a better second half,” George said. “Being down that much at the half, that’s not the team we are. We know this team very well and we knew that wasn’t us.

So we had to come in here and talk and just light a fire under this team and we did that.”

George scored 45 points, Russell Westbrook matched the National Basketball Association (NBA) record with his ninth straight tripledouble and Oklahoma City overcame a 26-point deficit to beat the Houston Rockets, 117-112, on Saturday night.

It was Oklahoma City’s largest comeback victory.

“We just never got into any flow, but then I thought once we got some stops, we got out in transition,” Thunder Coach Billy Donovan said.

“Obviously, Paul with what he did tonight was phenomenal, the way he played. And he was on [James] Harden a lot. He was unbelievable tonight on both ends of the floor.”

Defensively, George fought through screens in the final minute to stay on Harden.

“I look forward to playing against the best,” George said. “That’s how I was taught the game— just enjoy matchups and have fun with it.”

Westbrook had 21 points, 11 assists and 12 rebounds to match the record streak set by Wilt Chamberlain in 1968. Westbrook has 22 tripledoubles this season and 126 overall. He also had 10 turnovers and was eight of 21 from the field.

“It’s really incredible,” Donovan said. “It took whatever it was, 60 years, until somebody did

it just to show you how hard it is to do and how unique of a player he is to be able to do it.”

Harden led the Rockets with 42 points, reaching 30 points for the 29th straight game—two shy of Chamberlain for the second-longest streak in NBA history, but far behind Chamberlain’s record run of 65 games. Harden was 11 for 28 from the field, going six of 16 from three-point range, and made 14 of 15 free throws.

The 26-point deficit was Oklahoma City’s largest of the season.

Westbrook gave the Thunder a one-point lead with a driving lay-up with 26.9 seconds remaining.

On the following possession, Harden missed a threepointer, and George got the rebound and was fouled with 3.4 seconds left. He made both free throws put Oklahoma City up three. Houston turned it over on the following inbound play.

George made 12 of 22 shots, hit six of 14 three-pointers and made 15 of 18 free throws to finish four points shy of his career-high 49 points set in 2013 with Indiana.

The Thunder made seven of their first eight shots in the third quarter to quickly cut Houston’s lead in half. Oklahoma City outscored Houston 42-20 in the quarter to even the score at 90.

“We knew to get back into the game, we had to defend at a high level,”Westbrook said. “We got stops and won a big game on the road.”

Oklahoma City fell into a deep hole in the first half following a sizzling second quarter from the Rockets. After dominating Sacramento, 44-17, in the second quarter of a 127-101 win in their previous game on Wednesday night, the Rockets outscored the Thunder, 42-23, on Saturday night.

Houston had won seven of eight home games against Oklahoma City. AP

T

Trinity, Nyro Saints clash for QCBL title

RINITY University of Asia and Nyro Saints prevailed in their respective semifinal assignments to set up a championship showdown for the premier Open Division title of the Quezon City Basketball League (QCBL).

Trinity crashed the final first following a 66-49 upset of Emilio Aguinaldo College (EAC) in the first semifinal pairing of the tournament at its home gym—the NRMF Gym in Quezon City.

Nyro completed the final cast with an easy, 107-85, over the undermanned Quezon City Capitals.

Leading the Trinity dribblers where Levi de la Cruz and Alvin Ortega, who finished in double figures of 17 and 10 points, respectively.

The Saints had an easy sailing with six players scoring no less than 10 points, topped by Nyro Pineda’s 19.

Trinity and Nyro disputed the title on Sunday in the same venue of the league’s maiden season supported by Wilson balls, Del Monte Fite N Rite, NRMF, Cashen Advertising, Kyzox and Smart Communication.

Team Magic 7 and SSI Mental, meanwhile, will vie for the Cadet Division title also set on Sunday.

Magic escaped past Elyong’s Los Saints, 9489, while SSI defeated Team HI-Per, 99-94, in the semifinals.

In the Starter Division, it will be Regalado Vet against Nemesis Hobby Shop in the final.

Regalado routed 70-59 EA’s Taste of Asia, while Nemesis beat Insignia, 104-90, in the semifinals.

BREAKAWAY GROUP ADDS TO AIBA WOES

D

AVAO unleashed a strong finishing kick to remain as overall champion of the Batang Pinoy Mindanao leg on Saturday at the Davao del Norte Sports and Tourism Complex in Tagum City.

Victories in various fronts, including centerpiece swimming and athletics, capped the Davaoeños’ dominance in this annual age-group contest organized by the Philippine Sports Commission and province of Davao del Norte.

Davao cornered a total of 56 gold, 39 silver and 58 bronze medals, surpassing its 54-gold medal harvest in the previous edition of this tourney that also has STI College-Tagum and Alfalink Total Solutions as sponsors in Oroquieta City last year.

The Davao bets made big splash in the pool as sisters Liaa and Lora Amoguis spearheaded the attack in swimming, capturing a total of 17 gold medals while drawing six from athletics, four from taekwondo and four from karatedo.

And before the tournament came to a close,

the Davaoeños ran away with last few mints in baseball, chess and lawn tennis.

The Davao batters led by Harold Gapate, Richard Gabatin and JM Metillo clobbered South Cotabato to clinch the gold medal, while Wesley Magbanua ruled the 13-15 blitz boys in impressive fashion and the tandem of Harlene Herbabuena and Janinah Panisales dominated the under-13 girls’ doubles.

PSC Chairman William “Butch” Ramirez expressed elation over the success of the first leg of this prestigious tourney meant for young athletes 15 years old and below.

“These young athletes showed that achieving peace through sports is very possible,” said Ramirez following the event that drew close to 3,000 athletes from as far as Cotabato, Davao and Tawi-Tawi.

Cagayan de Oro was at far second with 33 gold, 23 silver and 42 bronze medals with Lady Jane Payla (jr girls pinweight), Angelo Lofranco

Unified group gives tennis big boost

THE Unified Tennis Philippines founding members pose for unity. They are (from left) Gerardo Maronilla, Julito Villanueva, Jackie Tomacruz, Jean Henri Lhuillier, Bobby Castro and Randy Villanueva.

TARGET: AUGUST 31, 2019 Alloy MTD Philippines President Patrick Nicholas David briefs the BusinessMirror on the progress of work on facilities for the country’s hosting of the 30th Southeast Asian Games at the New Clark City in Capas, Tarlac, over the weekend. Modern athletics and football stadium, aquatics center and an Athletes’ Village are being built at the Bases Conversion and Development Authority facility for the Games set from November 30 to December 9. According to David, a self-imposed August 31 deadline has been set for the completion of the job. NONIE REYES

(jr boys pin), Jhasli John Illudar (jr boys light fly) and Rhein Jhon Gidor (jr boys fly) bringing home boxing golds.

General Santos City came in third with 27 golds, 33 silvers and 31 bronzes, followed by Davao del Norte with 24-25-24 (gold-silverbronze) medals.

Santo Tomas (Davao del Norte) also showed its strength in athletics by pocketing eight gold medals including four from Aaron Gumban in boys’ 13 to 15 5,000-meter, 2,000-meter steeplechase, 500-meter and 4x400-meter relay with Frits Gian Anasco, Dominic Jhon Gorre and Jomel Mosquiter.

Koronadal City finished fifth with 22-12-9 gold-silver-medal haul—20 of those coming from its archers led by the meet’s most successful athlete, John Carlo Loreno, who bagged silver medals.

Home team Tagum City also did well as it registered 13 gold, 12 silver and 18 bronze medals.

S

USTAINING the momentum it gained from its successful campaign last year, the Unified Tennis Philippines (UTP) has lined up a record 70 junior, 14 senior and seven Open tournaments this year as part of its commitment to produce world-class Filipino players as well as further developing the sport in all levels.

The busy schedule also includes a trainers’ Open and 12 UTP Tennis Challenge Series.

“Getting these Filipino athletes out there to compete with other world-class tennis players has been our lifelong dream. I’m glad that we have gained traction since we’ve rolled out UTP’s programs two years ago and so we will continue to fulfill our mission to discover fresh talents and improve the quality of our tennis players from the professional level down to the grassroots level by providing them with proper training and international exposure,” said Jean Henri Lhuillier, president and founder of UTP, which includes Cebuana Lhuillier, Palawan Pawnshop, Babolat, HEAD, Chris’ Sports, Dunlop, Toby’s Sports, Wilson, Decathlon, Mr. Freeze and Madison Galleries.

The Cebuana Lhuillier and Palawan Pawnshop age groupers recently kicked off their respective circuits at the Meralco Tennis Club in Pasig and at the Actifit Sports Center in Valenzuela, respectively. Both tournaments drew more than 250 local junior, pro, and senior players led by top juniors John David Velez, Sebastien Lhuillier, Joewyn Pascua, Macie Carlos, Bliss Bayking and Anna de Myer.

UTP will soon announce the cut-off period for selection of the 2019 UTP National Juniors Tennis through social media. Last year, UTP formed several teams that played in Malaysia and Indonesia and were successful in producing winners in the ATF (Asian Tennis Federation) and ITF (International Tennis Federation) tournaments with the Eala siblings Alex and Miko reaching the finals.

New initiatives and programs are also under way, including the introduction of an online tournament registration in the second quarter of the year and staging of more level-based tournaments for club players such as the UTP Tennis Challenge series.

The UTP will also send players to this year’s WTA (Women’s Tennis Association) Future Stars event in China with Dunlop providing the official ball of all Palawan Pawnshop and Cebuana Lhuillier tournaments.

TEAM MIGHTY 3RD IN DUBAI CAGE MEET

T

EAM Mighty Sports-Philippines salvaged some measure of pride by repeating over Lebanon league titlist Homenetmen, 91-76, on Saturday night to finish third overall in the 30th Dubai International Basketball Championships at the Shabab Al Ahli Club Gymnasium in the United Arab Emirates.

Former Ginebra stalwart Jett Manuel saved his best for last with a team-high 19 points, making all of his seven attempts inside as Mighty Sports bounced back from a painful 89-84 loss to fancied Al Riyadi-Lebanon in the knockout semifinal round the other night.

More important, the accessories and apparel team backed by SMDC, HealthCube, Go for Gold and Oriental Game closed out its campaign in the prestigious nine-day, 10-team invitational tournament on a strong note, a marked improvement from its woeful one-win showing on its tourney debut in 2017.

“Overall, I think the stint was a successful campaign,” said Mighty Sports Coach Charles Tiu, still sounding satisfied after his wards completed a four-game sweep of the group stage, dominated Oil Sports Club-Iraq in the quarterfinals and made a spirited fightback that only came up short against Al Riyadi in the Final Four round.

Big man Randolph Morris finished with 11 points, while top gun Justin Brownlee and Roosevelt Adams added 10 points each, but it was former Los Angeles Lakers star Lamar Odom who put on the finishing touches alongside Mighty Sports’ locals in a relatively easy windup.

The 6-foot-10 Odom, cheered on by the sizeable Filipino crowd every time he touched the ball, racked up eight points, five rebounds, two assists and a block. He even nailed a booming triple for a comfortable 83-64 advantage with less than three minutes to play.

“The fact that he can still play basketball, run up and down at his age, that’s already a big achievement for himself and I’m really happy for him,” said Tiu. “Just the fact that he’s been an inspiration to all of us and be part of his comeback, we wish him the best wherever he may end up.

He’s been a good player with great attitude for us.”

Jerar Hadidan led all scorers with 23 points, while Elias Rustom added 20 points as they tried their best to fill up the scoring shoes left

by Walter Hodge, who exploded for 42 points in their 96-89 loss to Mighty Sports back in the group stages.

But Mighty Sports, co-owned by Alex and Caesar Wongchuking, proved won’t be denied this time, with Manuel, Gray, Brownlee and Adams taking turns in their decisive breakaway in the third quarter where they built a lead as high of 17 points twice.

Then backup big man Troy Rike joined the fray in the final canto with six quick points— off nifty feeds from Gab Banal—in another 10-0 run for a whopping 77-55 lead with more than six minutes to play.

orts

sMirror

Monday, February 11, 2019

P Sweet sweep for Perpetual in volley finals

U

NIVERSITY of Perpetual Help System Dalta (UPHSD) swept its way to the men’s and juniors titles of the 94th National Collegiate Athletic Association of the Philippines volleyball tournament at the Filoil Flying V Centre in San Juan City over the weekend.

The Altas survived a slow start and eked out a 23-25, 25-17, 25-17, 25-23 victory over the College of Saint Benilde Blazers in Game Two to complete an 11-game sweep of the men’s division and snare their 12th title overall—two shy of the league-best 14 titles Letran owns.

The Junior Altas, on the other hand, turned back the Letran Squires, 25-19, 30-28, 25-17, to also sweep their way to a fifth straight title and 11th overall—four crowns behind San Sebastian’s league-best 15 championships.

Joebert Almodiel and Ridzuan Muhali took turns in firing a match-high 19 points apiece as UPHSD, which seized the series opener, 23-25, 25-19, 23-25, 25-23, 15-12, on Friday, in the series-clinching triumph.

The 21-year-old Almodiel, the back-to-back season Most Valuable Player, also hoisted the Finals MVP trophy to cap an amazing season.

“This is the product of the team’s hardwork and sacrifice,” Perpetual Help Athletic Director and men’s team Coach Sammy Acaylar said.

The Sandy Rieta-coached Junior Altas were more impressive as they never conceded a single set to the Squires in their series after a commanding 25-15, 25-19, 25-19 win in Game One. The Las Piñas-based school is trying to become third team in the league to win all three volleyball titles in a season next to former member Ateneo (1984) and San Sebastian (1984, 1993, 1994, 1995, 1996 and 2002).

ETRON expects a tough challenge from a formidable field when the Blaze Spikers defend their title in the Philippine Superliga Grand Prix which unfurls on Saturday at the Ynares Sports Arena in Pasig City.

Winners of the Grand Prix and All-Filipino tournaments last year, the Blaze Spikers, are the favorites to retain the first conference crown in the seventh season of the league.

The Blaze Spikers, under Head Coach Shaq de los Santos, know that as defending champions, the challenge becomes even tougher in the import-laced conference.

“I think it would be a different battle this year. Every game we push ourselves to our limits,” de los Santos told the press launch for the new season at the Santa Lucia East Grand Mall in Cainta on Sunday.

“We can’t be complacent because other teams are ready against us. There are also imports for each team. It’s going to be hard,” de los Santos added.

Petron will bring in Katherine Bell and Stephanie Nimer as imports to backstop local stars Mika Reyes, Aiza Maizo-Pontillas and Bernadeth Pons.

Bell, who partnered with Lindsay Stalzer as Petron’s imports last year, said that nothing has changed in their game plan. It’s still all business.

“I don’t care about the past. Same mindset, get the same result,” Bell said.

De los Santos agreed.

“We can’t belittle our opponents especially in this conference. We need to prepare for each game,” he said.

BLAZE SPIKERS OUT TO DEFEND TITLE RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

A letter to graduating HS student-athletes THE captains of the participating teams join Philippine Superliga officials for a photo. NONOY LACZA

Challenging Petron are Cignal, Foton, F2 Logistics, Generika, PLDT, Sta. Lucia and United Volleyball Club.

Clashing in the first game are Generika and Sta. Lucia at 6 p.m. and United Volleyball Club and Foton at 4 p.m.

F2 Logistics, meanwhile, boosted its roster by tapping former Petron reinforcement Stalzer and American-Italian Becky Perry, while United Volleyball Club will be bannered

by a solid core of Kalei Mau and new recruits Alohi Robins-Hardy, Amy Ahomiro, Bang Pineda and imports Tai Manu-Olevao and Yasmeen Bedart-Ghani.

Generika-Ayala will also be a force behind Azerbaijan national team star Kseniya Kocyigit and Brazilian stalwart Nikolle del Rio while Cignal will bank on the prowess of skipper Rachel Anne Daquis, Anastasia Artemeva of Azerbaijan and Erica

Wilson of the United States.

Besides tapping a new coach, Babes Castillo, the Lady Realtors will have US NCAA Division I standouts Molly Lohman and Casey Schoenlein with Foton, the two-time champion, which will be missing the services of towering sisters Jaja Santiago and Dindin Manabat, relying on former Turkish national team member Selime Ilyasoglu and American Courtney Felinski. Ramon Rafael Bonilla

WORLD CHAMPS FETED IN AWARDS T

MEMBERS of the University of Perpetual Help System Dalta volleyball team celebrate their title victory.

WO current world champions, a rising gymnast and the goldmedal winners in the 2018 Asian Para Games lead the list of Major Awardees to be honored during the San Miguel Corp.-Philippine Sportswriters Association (PSA) Annual Awards Night on February 26 at the Manila Hotel.

Reigning International Boxing Federation (IBF) super-flyweight champion Jerwin Ancajas, World Boxing Organization (WBO) counterpart Donnie Nietes, World Artistic Gymnastics Championships bronze medalist Carlos Yulo, and the Philippine Para Chess Team along with the Asian Para Games winners lead the roster of 23 major awardees who will be recognized by the country’s sportswriting fraternity during the special event presented by Milo, Cignal TV and the Philippine Sports Commission.

Ancajas defended his IBF 115-lb title three times last year, Nietes won the WBO

belt just before 2018 ended in Japan, Yulo became the first Filipino and Southeast Asian male gymnast to win a medal in the world meet, while the Philippine Para Team finally broke through in the Asian Para Games by bagging 10 gold medals in Indonesia.

Para swimmer Ernie Gawilan, Arthus Bucay (cycling), Kim Ian Chi (bowling), Sander Severino (chess) and the Para Chess Team (Standard P1 men, Standard B2-B3 men, and Rapid B-1men) formed the national team that accomplished the country’s best finish yet in the quadrennial meet.

Also receiving Major Awards in the event backed by the Philippine Basketball Association, Rain or Shine, ICTSI, NorthPort, SM Prime Holdings and Chooks To Go are Thirdy Ravena (amateur basketball), San Miguel Beer (pro basketball), Meggie Ochoa (jiu-jitsu), Christian Tio (kiteboarding), El Joshua Carino (cycling), Arnel Mandal (wushu) and Jannery Millet and

Milo Rivera (motorsports).

Completing the list are Team Manila and Tanauan Little League (softball), Philippine dragon boat team, O’Neal Cortez (Jockey of the Year), and Sepfourteen (Horse of the Year).

A total of 75 awardees make up the 2018 honor roll led by Athletes of the Year Hidilyn Diaz, Yuka Saso and fellow Philippine women’s golf team members Bianca Pagdanganan and Lois Kaye Go, and Margielyn Didal.

Bowling great Bong Coo and cycling champion Paquito Rivas are the year’s recipient of the Lifetime Achievement Award.

Special Awards will also be given to June Mar Fajardo (Mr. Basketball), Marck Espejo (Mr. Volleyball), Jaja Santiago (Ms. Volleyball) and Neil Etheridge (Mr. Football).

Olympian and bemedalled athlete Bea Lucero-Lhuillier will be the special guest speaker in the awards night organized by the country’s oldest media organization.

Navy’s Morales sprints to victory in Iloilo City-Roxas City 3rd stage

T

WO-TIME champion Jan Paul Morales of Navy-Standard Insurance proved his mettle anew in the sprint to rule a massed finish Stage Three of the LBC Ronda Pilipinas 2019 that started in Iloilo City and ended at the Roxas City Hall on Sunday.

Morales, Ronda king in 2016 and 2017, needed a big push in the final 500 meters to take the 179.4-kilometer stage in four hours, 35 minutes and 18 seconds.

He edged Dominic Perez of 7-Eleven Cliqq-Air21 by Roadbike Philippines and Indonesian Projo Waseso Nex Cycling Team, who finished second and third with the same time.

The stage win was the first for the 33-year-old Morales in an International Cycling Union (UCI)-sanctioned race.

The triumph was made extra special as Morales outsprinted two-time Southeast Asian Games gold medalist Mohd Harriff Saleh, a Malaysian who rides for powerhouse Terengganu Inc. TSG Cycling Team.

“I’m so happy because this is the first time I won a stage in a UCI race and I beat my idol [Saleh],” said Morales, whose closest brush to winning one came in 2011 when he finished second to an Australian in one of the stages of the Le Tour de Filipinas.

It was the second time that a Filipino topped a stage after Marcelo Felipe of 7-Eleven bested 2018 Le Tour titlist El Joshua Carino of Navy-Standard to snare Stage Two the day before in Guimaras. Tour de France

veteran Francisco Mancebo Perez of Matrix Powertag Japan topped Stage One. Morales’s feat, however, failed to make a dent in the individual and team general classification as the 42-year-old Mancebo and his Matrix Powertag Japan team continued to lead both classifications by a mile.

Mancebo, who boasts of a fourth-place finish in the Tour de France in 2005, rode alongside the GC contenders and checked in in the stage.

It was enough to keep Mancebo comfortably perched on top with an aggregate time of 12:22:46, 3:52 ahead of reigning Ronda champion Ronald Oranza of Navy-Standard and 3:55 ahead of Perez, who registered his second podium finish after also placing second in Stage One in Iloilo.

Morales (4:35 behind) remained at No. 4, Matrix’s Joo Daeyeong (4:53) at No. 5 and 7-Eleven’s Irish Valenzuela (5:20), the 2012 Ronda winner, at No. 6.

Rounding up the top 10 were ArmyBicycology’s Mark Julius Bordeos (5:20) and 7-Eleven’s Rustom Lim (5:28) and Marcelo Felipe (6:26).

Mancebo’s Matrix squad kept its stranglehold of the overall team lead with a total clocking of 37:20:07 ahead of 7-Eleven (3:31) and Navy-Standard (8:30).

Mancebo will continue to wear the symbolic leader’s red jersey in Monday’s 146.9-km Stage Four that will start and end at El Pueblo also in Roxas City.

C3

PHILIPPINE Army-Bicycology’s Marvin Tapic holds fort in Stage Three.

PAL INTERCLUB RETURNS TO CEBU T HE Philippine Airlines (PAL) Interclub golf team championships return to Cebu City late this month with Manila Southwoods and Canlubang defending their regular and seniors crowns, respectively.

Four courses will be used in the two-week long event with the 33rd edition of the seniors tournament kicking off on February 27 at Alta Vista Golf Club and at Club Filipino de Cebu.

Last year, Canlubang held off Luisita to regain the seniors crown in Bacolod City.

Canlubang collected 573 points to beat Luisita by eight. Del Monte Golf Club was a poor third with 549 points.

The other division champions last year were Cebu Country Club in Founders, Alta Vista in Aviator, Rancho Palos Verdes in Sportswriters and South Bay of Los Angeles in Friendship.

Senior teams are expected to fly in on February 24 for the three-day practice rounds.

The seniors event adopts the Molave scoring system which awards three points for par. An even-par score is worth 54 points.

Each team is allowed to field as many as four players per round with the top 3 scores to count. Each player is limited to two rounds of play.

The 72nd PAL Men’s Interclub, on the other

hand, fires off on March 6 at the Cebu Country Club and the Mactan Island Golf Club.

Manila Southwoods overwhelmed the field last year with a record 551 points, 41 points ahead of Luisita. Canlubang placed third with 502 and Del Monte fourth with 469.

Regular teams can field five players per round with the top 4 scores counting.

The PAL scoring system will be used. A par is worth two points which translates to 36 points for players who matched par.

The new golf rules will take effect, according to tournament Director Henry Arabelo.

DEAR parents and cagers, On Sunday were the various division championships of the Metro Manila basketball leagues. The elimination round of the juniors competition of the University Athletic Association of the Philippines (UAAP) just wrapped up with the Final Four scheduled this coming Friday. The National Basketball Training Center (NBTC) National Championships (for high school) are just around the corner.

The latter is actually the culmination of high-school basketball competition. And after that, the graduating players will try their luck with college programs while others will just look to hang up their competitive high tops and just study. Assuming they study.

And that bring me to the meat of this letter.

By now you know that basketball in all levels of this country is highly competitive. Agents will want to handle you.

Programs will recruit you and promise you a lot of things— whether financial or otherwise; even both. You start to daydream—wearing the jersey of this fabled team, playing in the UAAP or the National Collegiate Athletic Association, in the Philippine Basketball Association (PBA), Gilas...the lure of fame, money, stability, and well, the pinnacle of the local basketball world is huge.

A word of caution though...

Choose a school because it is the right one for your son or daughter.

And that they will get a diploma (I cannot stress enough that your kid must have brains between their two ears).

The higher you go, the smaller the basketball pyramid gets. It shrinks and it becomes even more competitive.

Choose a school, too, because you child will learn something, too. And the coach is someone that is admirable, can be a father-figure to the kid, and has a good reputation. Just because one played in the PBA doesn’t mean he is a good coach. Being a good player doesn’t automatically mean one is a good coach. Not at all. Ask for the reputation. Ask around. Does this guy have skeletons in his closet? You know—benta, nanguupak ng player (yes, these people exist), playing time depends if you sign up with him as your kid’s manager? And so on.

And coaching? It isn’t merely Xs and Os. Can he properly guide your child?

Ask the coach and the manager that should your son be cut (and his future as a basketball player is in doubt), can he finish his schooling? Ask that. If they say yes, get them to commit that on a contract because a great many college programs cut their players some in the middle of the school year and take away the scholarship. And even if your kid goes to class and has decent grades, they remove you. They do not believe in nonperforming assets. Listen, most schools recruit kids as athletes and not student-athletes.

Make sure that the agreement is written down.

Record your meetings but make sure they know you are recording them. So there is no, he said, she said. And listen...handshakes don’t mean much to many people.

It is fake etiquette. If it is on paper, you can sue the bastard.

And speaking of coaches, find out if this coach is walking on thin ice? Does he have a winning or losing record? If they haven’t been winning, he might get the boot. And if you go there and he gets the boot, there is a possibility that you might lose your place on the team, because the new guy might want to bring in his own players.

Some of you will agree because they offer signing bonuses. I get you. You don’t have a lot of money and you could sure use it.

Now some, will be realistic. They will say, we can place your son on our Team B kung saan magpapahinog.

Some programs recruit heavily all-year round. So factor that in. What are his chances of moving up? Is it guaranteed?

Some of you will see peso signs when you see your child. Let me tell you now that might work sometimes when you peddle your child as a commodity. But many a player have seen their careers get sidetracked because of the parents.

This is a tough balancing act. It is. This is a bad and crazy world we live in. Just because it is the way of the world, it doesn’t mean that we hold on to what we hold dear. Unless you worship money.

Having said all this, you know, I love it when players like Jorey Napoles and Ranidel de Ocampo—to name a few—get into the PBA. They played in small schools and even smaller leagues. But they made it. Now that chance isn’t always given to all. But there is a chance.

I think what is important is that one plays commercial ball after his college days are done—para magpakilala.

So take your time. Listen to everyone. Look at everything. Study and do your research so you can send your kid somewhere where he can maximize the opportunities available to him.

These are the cold, hard facts. Now listen and be smart. Because if not, you’ll be faced be the harsh reality that college sports aren’t college sports anymore. Hell, amateurism died a long time ago. It’s cutthroat. It’s like a professional league and you’re in division two. Welcome to the new reality.

ALL AHEAD FULL! LINDSEY VONN to go “full throttle” in last race of her career. AP

Airbag safety device provides Vonn extra layer of protection

A

RE, Sweden—Lindsey Vonn has been getting plenty of use out of an airbag safety device she wears under her racing suit.

Developed by Italian manufacturer Dainese, the D-air Ski system fits into a vest around Vonn’s upper body and is programmed to inflate during crashes.

“I won my first race wearing it in Val d’Isere last [season] so I like it and it’s gone off quite a few times when I’ve crashed,” Vonn said recently. “As much as I can do to protect my body it’s good. I wear two knee braces and an airbag and maybe I should just ski in bubble wrap.”

Vonn, who is retiring on Sunday after the downhill at the world championships, is the most successful ski racer of all time with 82 World Cup wins. Her career has also been marked by high-speed crashes, the latest in Tuesday’s super-G, which left her with a black eye and bruised rib.

“I’ve got a mouth guard. I’ve got a helmet. Airbag, back protector, knee braces,” Vonn said. “I think that’s as much as really you can have, besides arm braces at this point.”

A 4.5-centimeter long (1.8-inch) gas generator inflates the airbag, and the entire system adds about 800 grams (less than two pounds) of weight to skiers. A complicated algorithm was developed to determine “the point of no return” for the system to engage once skiers lose complete control.

The system was first developed for motorcycle racing and

is mandatory in MotoGP. About one third of the top 30 ranked skiers use the airbag, on the men’s and the women’s circuits.

It is available to the public at a steep price tag: €1,499 ($1,700). Not all World Cup skiers are fans of the system.

Aksel Lund Svindal, the Norwegian great who retired after winning the silver medal in downhill on Saturday, was involved in the initial testing with Dainese but has since changed sponsors.

When the airbag inflates it protects mostly the back, upper chest and neck areas. Svindal said skiers need more protection on their knees, which is where they get injured most frequently.

“I know that Dainese has ambitions to make something that makes a lot more sense for downhill skiing than what they have now,” Svindal said. “I don’t think it helps enough the way it is now, and how expensive it will be for junior racers if this is something everyone needs to use.”

American downhiller Laurenne Ross also crashed in the super-G and will likely be out for the rest of the season due to a concussion and left knee injury.

Ross also wears the airbag.

“I just feel it’s one more thing that I know is on my body that allows me to send it a little bit harder and trust that I’m going to be OK if something does happen,” Ross said before her latest crash. “It makes you feel like the Michelin Man. It just feels like extra padding.” AP

Sports BusinessMirror

C4

| Monday, February 11, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

A

By Andrew Dampf The Associated Press

RE, Sweden—Anyone expecting Lindsey Vonn to take it easy in her last race should think again.

Doesn’t matter if she’s still banged up from a crash with a black eye, a sore rib—not to mention the pain in both of her knees that forced her to move up her retirement.

“Whether I’m ready or not,” Vonn said. “I’m just going to go full throttle.”

It will be a fitting way to go out for the record-setting skier in Sunday’s downhill at the world championships.

Norwegian great Aksel Lund Svindal set the stage for Vonn by winning the silver medal in the men’s downhill on Saturday in his last race.

“She didn’t win 82 World Cups by being lucky,” Svindal said. “If she gets a medal, it wouldn’t surprise me at all.

It just comes down to that one day and it has to happen tomorrow. Good luck!”

Vonn’s 82 wins are the most all time by a female skier and trail only the 86 won by Swedish great Ingemark Stenmark.

To honor Stenmark, Vonn will wear a race suit featuring the colors of the Swedish flag, blue and yellow.

“Obviously we’re in Sweden but also because of Stenmark and how much he has meant to the sport,” Vonn said. “It’s obviously something that has motivated me for a

long time—his record—so I’m just paying my respects to him and this country.”

Along with Vonn’s dad, two of her siblings and one of her best friends, Stenmark will also be in attendance.

“I’ve been texting him and he wasn’t planning on being here and I was like, ‘Please, please, please,’ and so he’s coming,” Vonn said. “I’m really, really, really excited.”

As the 34-year-old Vonn performed interviews following downhill training on Friday, a US team member helped keep her muscles from tightening up with an cordless electrical vibration massage device. She’s still recovering from her crash in super-G on Tuesday.

“I’m really stiff,” she said. “Things are pulling in ways they shouldn’t be pulling and sometimes my ribs come out.

It’s not something that’s new to me. Usually I can manage to where it’s not a problem.”

The downhill is scheduled to start at 12:30 p.m. local time (1130 GMT) and Vonn will be the third skier on course.

A medal would bring Vonn full circle: Her two silvers at the 2007 worlds in Are were the first major championship successes of her career. She also won the downhill in Are at last year’s World Cup finals.

“I have a lot of great memories in Are,” Vonn said. “I really feel Sweden feels like home to me, very similar like Minnesota, flat and cold. I love it, it’s beautiful.”

Afterward, it will be time to celebrate.

“Oh yeah,” she said. “Full on, full gas, all day.”

CARDIFF City players observe a minute of silence in tribute to Emiliano Sala ahead of their English Premier League match with Southampton at Saint Mary’s Stadium on Saturday. AP

EMOTIONAL WEEK FOR CARDIFF

S

OUTHAMPTON, England—Cardiff ended an emotional week with a crucial victory, moving out of the English Premier League relegation zone by beating Southampton 2-1 thanks to Kenneth Zohore’s stoppage-time winner on Saturday.

Southampton thought it secured a point when Jack Stephens equalized in injury time, but Zohore’s closerange finish two minutes later handed Cardiff all three points—and consecutive top-flight victories for the first time since 1962.

Cardiff’s struggle against relegation has been largely overshadowed by the confirmation of the death of newly signed striker Emiliano Sala, whose body was

recovered this week from the crashed plane that was taking him to the Welsh club.

“For Emiliano, I feel really proud that the lads have done him justice,” Cardiff Manager Neil Warnock said.

Sala was remembered by a minute’s silence ahead of all Premier League games on Saturday, and both teams seemed influenced by the emotional mood as play began, with neither registering a shot on target until the 38th minute.

Cardiff’s opening goal came in the 69th through Sol Bamba, who stretched his right foot out to poke in a ball that had been headed on by Callum Paterson.

Southampton responded in the first minute of

stoppage time as James Ward-Prowse’s corner was headed by Charlie Austin toward the back post for Stephens to equalize. But Cardiff launched one last attack and Harry Arter’s misplaced shot fell to Victor Camarasa, who fed Zohore before watching the striker finish from close range and inside the far right post.

The win lifts Cardiff one point ahead of Southampton, which fell to its first league loss in 2019.

“We could have made a big step forward. The way we lost this was the most horrible thing,” Southampton Manager Ralph Hasenhuttl said. “It’s so disappointing that I have problems to find the right words. The opponent shot three times at our goal; we conceded two goals. Conceding like that, we have no chance to stay in the Premier League. If you give points away in that way, it will be very, very difficult.” AP

Serbian water polo team attacked in Croatia

Z

AGREB, Croatia—Serbian water polo players at a seafront café jumped into the freezing sea to apparently evade an attack by Croatian nationalists on Saturday.

The incident in the Croatian Adriatic port of Split occurred before a regional league match between Mornar Split and Red Star Belgrade.

Video footage and photos on the web site of Croatian newspaper Slobodna Dalmacija showed the Red Star goalkeeper in the sea seemingly trying to elude attackers.

Some locals were shown coming to his rescue.

Red Star decided not to play the match and returned to Belgrade. The team said the goalkeeper had a broken nose after being attacked by “Croatian hooligans.”

“Split is not a town which will tolerate violence of any kind,” City Mayor Andro Krstulovic Opara said. “I condemn the attack against three Red Star players who today wanted to enjoy the Split seafront.”

Croatian President Kolinda Grabar-Kitarovic tweeted: “Hooliganism is opposed to the ideals of sport, and every

violence is unacceptable. I thank the citizens of Split, who immediately stepped in to defend these values.”

Tensions are still high between Croatia and Serbia after their war in the 1990s.

The Serbian Foreign Ministry announced it will officially protest what it called “an anti-Serbian campaign” in the neighboring country.

“I really thought we have overcome such events from the past,” Red Star General Manager Igor Milojevic said. AP

LINK BULL RIDING Team Brazil’s Jose Vitor Leme competes in the PBR Global Cup bull riding competition in Arlington, Texas, on February 9. ROSS HAILEY/STAR-TELEGRAM VIA AP

God of the Covenant

D

EAR God, You guide us by your life-giving word.

Open our ears to Your wisdom and hear us as we pray: Have mercy on us, oh God. The unfolding of Your word gives light. Heal those who have been impacted by an abortion. Your decrees give understanding to the simple; help us to persevere in prayer. You shine your face on Your servant; let all the faithful departed dwell forever in the light of Your presence.

May the Love of God, the Peace of Christ and the communion of the Holy Spirit be with us and remain with us forever. 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

AND THEN SOME: BEAUTY FOR THE LOVE OF THE PLANET D4

Monday, February 11, 2019

‘Amado Mio’ PHOTOGRAPHED BY BONG REGALA

TOTA PULCHRA MISS CHARLIZE

@misscharlize

T

HE sultry spirit of Rita Hayworth was all over the runway at the “Amado Mio” fashion show at the Ruby Ballroom of Crowne Plaza Manila Galleria on Saturday night. Seven under-the-radar designers presented their spring/summer 2019 collections, under the direction of Ogee Atos.

Hayworth, the ultimate film fatale, sang “Amado Mio,” or “my beloved,” in the film noir Gilda. (Actually dubbed by Anita Ellis.) Her gowns were created by the 14-time Oscar-nominated costume designer Jean Louis, winning for The Solid Gold Cadillac (1956, starring Judy Holliday).

Ana Matutina, Thelma Abalos, Laire Daine, Vince Borja, JC Roldan, Iana Aguas and Paul Tenorio all attempted, if unknowingly, to approximate the luster of Hayworth the Hollywood legend. Some efforts were successful, while the others, as recommended by front row seatmates veteran designers Albert Andrada and Barge Ramos, need mentoring to further polish their craftsmanship.

Tenorio, 32, a Slim’s School of Art and Fashion graduate, used floral and 3D details celebrating the romance of the female silhouette. He used tulle, French lace, 3D lace embroideries for his wedding ensembles. His finale piece was a see-through French lace gown with hand-sewn lace appliques and tulle capelet for added drama, but it was his version of the terno/barong gown, popularized by Michael Cinco as worn by Pia Wurtzbach, that wowed the crowd.

Abalos, 45, from the School of Fashion and the Arts (SoFa) Design Institute, unveiled her “Dolce Vita” collection. She did empire silhouettes, which she says “fits most body types”; A-line, “simple, classic and timeless;” and sheath, “contours the body and can be worn both long and short.”Her finale gown was off-

CONTINUED ON D2

VINCE BORJA

PAUL TENORIO

D1

D2

Style

BusinessMirror

Monday, February 11, 2019

www.businessmirror.com.ph

z

‘Amado Mio’

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Taylor Lautner, 27; Kelly Rowland, 38; Jennifer Aniston, 50; Sheryl Crow, 57.

CONTINUED FROM D1 white jusilyn fabric and duchess satin, with a feathery textured fabric top, a creation “filled with pure moments that we want to last.”

Matutina, 46, also from the SoFa Design Institute, created her collection “for the millennials to define themselves in a more mature, feminine way” using peach as a refreshing palette for her floral-printed pieces made of cotton and shantung. “I don’t usually go into trends. I design with my heart, faith and passion,” she said.

Roldan, 26, is a self-taught designer. He was inspired by the metamorphosis of a Bird in Paradise for his daring dresses in black, white, red, violet and brown. He used pearl beads and tassels. He wanted to go for a sexy elegant aesthetic for an earthy woman.

Aguas, 30, from the Institute of Creative Entrepreneurship-Fashion Arts Design, titled her gems and metallics collection “Romantic Capriccio.” which came from her favorite words: romanticism, daydream and whimsical. “It’s inspired by the memory of my childhood, reminding me how my parents would make time to read and watch with us the fairy-tale classics,” she shared.

“As a designer, I decided to make my so-called dreams a reality through my work. Moreover, I took it upon myself as a mission to help others make their dreams come true,” she added. “This brought about the birth of my aesthetic I call ‘Emblazed Prevarications,’ which translates to embellishments and fairy-tales, for the modern women of today who are strong, independent and versatile.” ■

HAPPY BIRTHDAY: Don’t make excuses or take no for an answer. Be strong, dependable and ready to take on the world. Trust in your ability to get things done and to open doors that will allow you to reach your goals.

It’s up to you to make your life better, so don’t expect someone to do the work for you. Your lucky numbers are 5, 17, 22, 26, 30, 39, 41, 46.

a

ARIES (March 21-April 19): Learn something new. Open your eyes to new technology, and keep up with the times. Change can be made, but do so for the right reason, not for revenge or boredom. Make what you do count for something. ★★★★

b

TAURUS (April 20-May 20): You’ll find it difficult to deal with an emotional situation.

Don’t leap when you should be taking a moment to consider how your words or actions will affect others. Show compassion, and be willing to work with those you encounter. ★★★

c

GEMINI (May 21-June 20): Spend more time listening to others and assessing your situation and how best to deal with an opportunity. Time is on your side, and making the right move will make a difference in how you get along with others. ★★★

d

CANCER (June 21-July 22): Share your thoughts and feelings, and you will find out exactly where you stand. Don’t hesitate to tell someone you love them or to make your intentions known. Your honesty will lead to positive changes at work and at home. ★★★★

THELMA ABALOS

e

LEO (July 23-Aug. 22): You may want to change others, but perhaps it’s you who needs to change. Don’t force others to do things your way. Be sensitive to others’ needs and go about your business, and you’ll avoid interference. Keep in mind change begins with yourself. ★★

JC ROLDAN

DLSU Lady Spikers’ Desiree Cheng is both fit and fab with Forever 21.

JOIN the athleisure revolution with Kat Tolentino of the Ateneo Lady Eagles.

f

VIRGO (Aug. 23-Sept. 22): Get out and mingle, network and discuss your thoughts with someone you respect. The information you pick up will help you bring about a change that will improve your life. Don’t let anyone take advantage of you. Say no to poor influences. ★★★★★

g

LIBRA (Sept. 23-Oct. 22): Listen carefully and do your own fact-checking.

Look at the cost of things others want you to do. A change is good only if it doesn’t put you in debt or cause additional stress. Do what’s best for yourself. ★★★

h

SCORPIO (Oct. 23-Nov. 21): Get together with people who have something to offer.

The more you share, the more you will learn. Try something you’ve never done, and expand your knowledge, experience and interests. ★★★

i

SAGITTARIUS (Nov. 22-Dec. 21): Do something energetic. Keep busy, help others and scout for new opportunities. You will meet people from all walks of life. Be wary of anyone offering vague information or who appears to be prying into your personal affairs. ★★★

THE collection includes low-, medium- and highimpact pieces.

j

MIX and match pieces from the collection

CAPRICORN (Dec. 22-Jan. 19): Share your thoughts about the way you want to live or the changes you want to make personally. Adjust your lifestyle to fit future plans to advance. An unusual offer should not be ignored. ★★★★★

How to achieve your fitness goals on-trend THE start of the year has always been a great time to not only jump-start your fitness routine but also to revamp your wardrobe.

And with athleisure everywhere, global fashion retailer Forever 21’s 2019 Activewear collection makes it easier for women to achieve their fitness goals with pieces that are a wearable part of their daily routines.

After all, athleisure—which merges business casual and sportswear in one—combines durability and comfort in a versatile way.

Launching the collection are ladies who embody the stylishly active Forever 21 girl: UAAP Women’s Volleyball star players Desiree Cheng from the DLSU Lady Spikers and Kat Tolentino from the Ateneo Lady

k

AQUARIUS (Jan. 20-Feb. 18): Choose your words carefully and your actions with thoughtfulness. How you approach others will determine how well you will do and how far you will get. Hard work will pay off and encourage positive change and greater opportunities. ★★

Eagles. The Forever 21 2019 Activewear collection (www.facebook.com/Forever21PH) lets you get ahead in the style game with easy to mix and match colors, allowing every fitness enthusiast to enjoy transitional styles great for going out and working out.

Layer on lightweight jackets, comfy pullovers, high-waisted bicycle shorts, drawstring joggers and flattering sports bra tops.

With low-, medium-, and high-impact pieces, the range promises to keep you cool and comfy from gym to street. Stay dry with breathable, sweat-wicking fabric while flat-locked seams prevent chafing allowing a hassle-free workout be it yoga, cycling, running or dancing.

l

PISCES (Feb. 19-March 20): Consider every angle of a situation before you make your move. Waste will be the result of taking on too much when less would have been sufficient.

Good things can happen, but first you need to recognize what’s entailed. ★★★ BIRTHDAY BABY: You are sensitive, curious and helpful.

You are adventurous and intuitive.

‘hive mind’ BY SAM BUCHBINDER The Universal Crossword/Edited by David Steinberg

ACROSS 1 The Bachelor network 4 7UP and Sprite 9 Top story 14 Nursing garment 15 Standing tall 16 What Saint Bernards do 17 Plump stinger 19 Jules of sci-fi 20 NBA All-Star Shaquille 21 First of 13 same-named popes 23 Round Table title 24 Hammer, for one 25 First thing in the morning?

28 Drummer Starr 30 Nat ___ Wild 31 Heckling sound 33 Wine barrel trees 35 The Nose author Nikolai 39 Many TMZ headlines 43 Minotaur’s home 44 D-worthy 45 Repetitive condition, for short 46 Pie ___ mode 48 Boxing match division

50 55 58 59 60 61 63

Snapchat devices “Sure” Rage Red in the middle, say Dodge 2018 crime drama flop Popular jargon...or a hint to 17-, 25-, 39- and 50-Across 66 Mad Men trade, informally 67 Maya Angelou’s “And Still ___” 68 Guys 69 Robinson teammate Pee Wee 70 Frat party wraps 71 Much ___ About Nothing DOWN 1 Monk’s superior 2 Pop star Mars 3 Typical Stan Lee part 4 Put on Craigslist, say 5 Settlers of Catan mineral 6 Cotillion participant, for short 7 Fast Amtrak train 8 Control the wheel 9 Ann Landers, e.g.

10 Italian for “three”

11 12 13 18 22 25 26 27 29 31 32 34 36 37 38 40 41 42 47 49 50 51 52 53 54

Often-headless statue Like some bonds Filing worker Indonesian island Texter’s “I’m shocked!”

Petri dish gel Norse trickster god Weaving device Award for Malala Yousafzai Secretly e-mail “___ the ramparts...”

Nascar additive “Reward” for helping others “Warcraft” brute Hippie’s trip drug And others: Abbr.

Olden days Joeys’ parents, informally “I finally get it!”

De ___ (from the top) Cuban smoke Eat away Leave alone Travel around the world?

Brain prefix

56 57 60 62 64 65

Did 5 + 6, say Simple question type Sheared females “___ the season...”

Turn quickly A Gabor, when doubled

Solution to Friday’s puzzle:

www.businessmirror.com.ph

Show BusinessMirror

THE POWER OF MUSIC BINDS FAMILY IN NEW AFTERNOON SERIES GMA brings a one-of-a-kind drama aimed to touch the lives and tug at viewers’ heartstrings with Inagaw na Bituin, which premieres today, February 11, in the network’s afternoon block. Kyline Alcantara and Therese Malvar play Anna Sevilla/Elsa de la Cruz and Ariela Lopez, respectively.

Anna is the only daughter of a popular showbiz couple. She grows up to be a kind and respectful girl but fiercely protects the people she loves. An unfortunate incident changes her life when she is taken away from her parents. Due to the effects of trauma, Anna forgets her memories and lives a new identity as Elsa with the people she calls family.

Ariela, on the other hand, is used to getting her way just like her mother whom she aspires to be like.

Also headlining the series are Sunshine Dizon, playing the biological mother of Anna/Elsa and a famous singer and actress herself; Angelika de la Cruz as Ariela’s mother, a one-hit wonder; Gabby Eigenmann as a record and concert producer with a mysterious past; Angelu de Leon as Anna/Elsa’s adoptive mother; and Marvin Agustin as a composer and a loving father to Anna/Elsa.

Completing the cast are Renz Valerio, Manolo Pedrosa, Patricia Tumulak, Alyanna Asistio, Melbeline Caluag and Jackie Lou Blanco as a doting mother.

Inagaw na Bituin is a riveting tale that begins when Anna, the daughter of showbiz power couple Belinda and Eduard, is kidnapped. The kidnappers are killed but Anna is never found.

Devastated with the loss of their child, the two decided to end their marriage.

Belinda suffers a nervous breakdown and with her sister unstable, Lucy takes control of Belinda’s assets which she uses to rebuild her singing career. Little do they know that Anna is still alive, living with her kidnapper’s family and is now named Elsa.

Inagaw na Bituin is under the helm of KYLINE ALCANTARA and Therese Malvar headline Inagaw na Bituin.

director Mark A. Reyes V. The original series, created by the GMA Drama Group, is headed by the SVP for Entertainment Group Lilybeth G. Rasonable, VP for Drama Redgie A. Magno, AVP for Drama Cheryl Ching-Sy, Senior Program Manager Helen Rose Sese and Executive Producer Shielyn Atienza.

Monday, February 11, 2019

A musical casting coup ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

T

HE stellar names that make up the original Filipino production, titled Dirty Old Musical (DOM), are more than enough to arouse interest for theater fans to catch it on its third run starting February 22.

Dexter Santos is directing from the script of Rody Vera.

These two names alone are more than enough to ensure that quality is up on the list of must-haves for this musical undertaking. We have very high respect for these two creators, who are both low-key and definitely not into egoistic self-promotion strategies like some people we cringe at every time we open our social-media accounts. Both take their projects very seriously, produce excellent outputs and let their works speak for them.

Then there is musical director Myke Salomon, who is a composer, actor, singer, producer all rolled into one handsome package.

Of course, there is no need to introduce the frontliners.

Nonie Buencamino is a thespian through and through, with decades of experience as a respected actor. His filmography is colorful, and he has been recognized for his many unforgettable performances in film, television and theater.

“I love doing musicals,” he volunteered, adding, “there’s something in a production where spoken words, melodies, and lyrics mix and create magic.”

We saw him in a local production of Rodgers and Hammerstein’s The King and I a few years ago, and thought that his performance there was world class. We also saw him shine with his actress-wife Shamaine Buencamino in Mario O’Hara’s Stageshow at the Cultural Center of the Philippines some years back.

Miss Saigon alumnus Robert Seña is wearing two hats for the musical—he is both producer and actor. Coproducing is his wife Isay Alvarez-Seña, herself an accomplished performing artist. One of the songs in the musical is an original composition of Seña, titled “Tunay na Kaibigan.”

Seña shared, “In a way, the musical also pays tribute to the many wonderful original Filipino songs created by the masters and the icons of the music industry. We have songs from the newly proclaimed National Artist Ryan Cayabyab, rock icon Mike Hanopol and the late novelty artist Yoyoy Villame. The musical will also feature the hits of Wadab, Hajji Alejandro, Gary Valenciano, the Hagibis, Randy Santiago and the late Blakdyak.

Acclaimed rock star Jett Pangan has also joined the cast after John Arcilla begged off for this series, slated at the Music Museum in Greenhills.

We saw Pangan at his best in the local productions of Nine, Shrek the Musical, Jekyll and Hyde and Rock of Ages.

We look forward to seeing him do the lead role in Sweeney Todd in the third quarter of this year.

“I am so passionate about theater. It gives me a unique kind of artistic high, too,” he said. For DOM, Pangan needs to rehearse the dance routines, a skill which he said he still needs to embraced fully.

Carlo Orosa is also part of the main cast, giving life to a closet who comes out to his band members. “It’s my first gay role ever and I’m glad that it’s very relevant during these times when people are more open and accepting.”

Also included is Bimbo Cerrudo, who hasn’t changed much after many years. Still as dashing as he was decades ago, Cerrudo, who is also a Miss Saigon alumnus, continues to be a sought-after performer for concerts and corporate events.

Cerrudo did a remake of Wadab’s “Pag Tumatagal, Lalong Tumitibay” during his younger years, which became a hit. And like the many inevitable cycles of life, this song is included in the musical.

These five men will be supported by Ima Castro, Tricia Jimenez, Neo Rivera, Kitkat, Anthony Castillo, Matel Patayon and Carlo Matobato. The musical, which we hope will be able to tour the key cities of the Philippines and a few overseas venues where there are a good number of Filipino residents and contract workers, runs until March 23. ■

D3

Style

D4 Monday, February 11, 2019

www.businessmirror.com.ph

Beauty for the love of the planet AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

E

VERYWHERE we look, young people are making an effort to save the planet.

These efforts range from metal straws to reusable bottles and tumblers. While these efforts are admirable, we need more hands on deck. According to a study published in Forbes Magazine, we are throwing out a million plastic bottles per minute and 91 percent of this is not recycled.

On the personal-care front, multinational giant Unilever has entered the sustainable segment with a brand, called Love Beauty and Planet. First, the bottles. We know that beauty brands use a lot of bottles and jars and here, Love Beauty and Planet wants to make a big difference. Each bottle is made with recycled bottles and is 100 percent recyclable. Less plastic will also be used on packaging for items sold on e-platforms, such as Lazada, Beauty MNL, Zalora, Beauty Bubble, Shopee and Watsons.

For now, Unilever is launching three Love Beauty and Planet lines in the country. Each line includes shampoos, conditioners, body washes and body lotions.

Unilever uses only sustainably sourced ingredients like organic coconut oil from the Philippines and Murumuru butter from the Amazon for Love Beauty and Planet. The scents used for the products are natural and ethical, and are derived from ethically sourced essential oils or absolutes from places like Provence.

“These vegan ingredients are not tested on

animals. The products are designed to be good for you because there are no parabens, dyes, silicones and mineral oils,” said Dorothy DeeChing, Unilever Philippines vice president for beauty and personal care.

You know how conditioners usually take too long to wash out? Unilever invented a fast-rinse technology to help save water.

Once you add water to rinse your hair, the technology breaks down the conditioner into millions of tiny molecules that can be washed away quickly and rinsed out in less time.

Unilever estimates that if every woman in the Philippines shortened her shower time by 10 seconds, that would save enough water to support the drinking water needs of 11 million people for a year.

The products come in 400 ml bottles that offer value for money. Prices are P290 for the body wash and P390 for the shampoos, conditioners and body lotions.

■ Pink: Blooming color and delicious glow ■ Made for: Colored hair, dull skin ■ Key ingredients: Murumuru butter from the Amazon and Bulgarian rose essential oil ■ What I think: I love the scent of the lotion and how moisturizing it is.

■ Purple: Soothe and serene ■ Made for: Frizzy hair ■ Key ingredients: Argan oil from Morocco and lavender essential oil from Provence, France ■ What I think: The scent is “expensive.” I love the conditioner.

■ Green: Radical refresher ■ Made for: Greasy hair and scalp ■ Key ingredients: Tea tree oil from Eastern Australia and vetiver from Haiti ■ What I think: Mine is the unpopular opinion because I think this is the most popular line in the Philippines. I didn’t really like the fragrance because for me, it was too earthy. But a lot of people, including my family, love it. ■

Effortless style with stylish timepiece TECHNOMARINE MoonSun Quartz Stainless Steel and Nylon Casual Watch for Men and Women.

IF you’re looking for a versatile watch that can work well with a number of outfits, consider a simple watch with a nylon band and uncomplicated dial: TechnoMarine has just the thing.

The Swiss watch brand introduces the MoonSun Nato Collection, a wearable line with an urban style for younger watch patrons. It features a quartz movement and a smooth 40-mm stainless steel case with a flame fusion crystal.

Designed to be a classic, the MoonSun Nato Collection has a vintage look that offers a choice of yellow gold, silver, or rose gold tone dial and case, plus a range of preppy nylon straps for a casual but chic finishing touch.

It is suitable for daily use and a smart choice to wear at work and after-hour activities, for the busy weekdays and relaxed weekends.

For an effortless and stylish transition from a bustling full day to a hip evening event, time shouldn’t go by so slowly.

BusinessMirror

www.businessmirror.com.ph

Monday, February 11, 2019 E1

MCKINSEY’S ‘THREE HORIZONS’ MODEL

DEFINED INNOVATION FOR YEARS. HERE’S WHY IT NO LONGER APPLIES.

I

By Steve Blank

’M a big fan of McKinsey’s “Three Horizons” model of innovation.

When first articulated by Baghai, Coley and White in 2000, in The Alchemy of Growth, the Three Horizons model was a breakthrough.

However, in the 21st century the model has a fatal flaw that risks making companies lag behind competitors—or even putting them out of business.

The model described innovation occurring on three time horizons.

Horizon 1 ideas provide continuous innovation to a company’s existing business model and core capabilities in the short term. Horizon 2 ideas extend a company’s existing business model and core capabilities to new customers, markets or targets. Horizon 3 is the creation of new capabilities and new business to take advantage of or respond to disruptive opportunities or to counter disruption. Each horizon requires different focus, management, tools and goals.

While traditional analysis suggests that Horizon 3 disruptive innovations take years to develop, in today’s world this is no longer the case. In fact, it’s the speed of deployment of Horizon 3 products, strategies and capabilities that are a devastating upset to the status quo.

For incumbents, there are four ways to counter rapid disruption:

Incentivize external resources to focus on your goal

COMBINE the existing strengths of a company or agency and its business model by acquiring external innova-

tors who can operate at the speed of the disrupters. Google, for example, bought Android. The risk here is that a mismatch of culture, process and incentives may strangle the newly acquired innovation culture.

Rapidly copy the new disruptive innovators and use the incumbent’s business model to dominate

THE risk here is that copying innovation without understanding the customer problem can result in solutions that miss the target.

Innovate better than the disrupters

THIS is extremely difficult for large companies or government agencies as it is as much a culture and process problem as a technology problem.

Start-ups are born betting it all.

The trap of the Three Horizon model is not recognizing that today many disruptions can be rapidly implemented by repurposing existing Horizon 1 technologies into new business models—and that speed of deployment is disruptive and asymmetric by itself.

In the 21st century the attackers have the advantage, as the incumbents are burdened with legacy.

Steve Blank is an adjunct professor at Stanford University.

The art of evidence-based medicine

By Christopher Worsham & Anupam B. Jena

E

VIDENCE-BASED medicine now routinely defines the standard of care for many conditions. This approach mandates that new information, gleaned from randomized controlled trials and consolidated into clinical practice guidelines, can and must be used to improve the quality of care that patients receive. However, there is a critical misunderstanding of what information randomized trials provide to us and how health-care providers should respond to the important information that these trials contain.

Although, in theory, evidencebased medicine does not assume that when faced with two treatment options, patients should always receive the treatment that was more effective in randomized controlled trials, this tends to be what happens in practice.

Ultimately, because of heterogeneity in how patients respond to treatment, it is possible, and likely, that physicians who are informed about the evidence may still appropriately offer some patients a treatment that many would consider to be inferior on the basis of clinical trial data alone.

This simple point has several important, but unfamiliar, implications for how we measure the quality of health care that patients receive and how narrowly we should interpret the recommendations of evidence-based medicine.

It is possible that informed physicians who combine their own clinical experience with up-to-date scientific evidence may have better outcomes than physicians who unanimously choose treatments shown to be effective, on average, in clinical trials.

Clinical pathways, protocols, electronic physician order sets and checklists are also often designed to increase adherence to clinical guidelines and improve performance on quality metrics. While they may provide guidance to some physicians, others may be nudged to provide treatments that, in the end, are the wrong treatments for their patients.

Ultimately, the successful application of evidence-based medicine is an art that requires first and foremost an awareness of the evidence, and also an ability to determine how well the evidence applies to any given patient.

None of this is to say that evidence-based medicine is not helpful. It clearly is. But the optimal application of evidence is as important as awareness of that evidence, and physicians must be artists, using their judgment to determine which evidence applies best and which treatments will most likely benefit individual patients.

Christopher Worsham is a critical care physician at Massachusetts General Hospital and Harvard Medical School. Anupam B. Jena is an associate professor of health-care policy at Harvard Medical School and an internist at Massachusetts General Hospital.

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

Help your team understand what data is and isn’t good for

L

By Joel Shapiro

EADERS today increasingly turn to big data and advanced analytics in hopes of solving their most pressing problems, whether it’s a drop-off of repeat customers, a shift in consumption patterns or an attempt to reach new markets.

What works with locomotives and oil rigs, however, can be far less effective when it comes to influencing people’s behaviors. With social systems and the behaviors generated by large groups of individuals—who does what and under what conditions—it is far harder to identify solutions to problems. This points to the shortcoming of using data analytics alone for solving problems that arise from individual behavior. Here are five important considerations that everyone who works with big data needs to understand: n Data can determine the ‘what’ of a problem: Data analysis is helpful in determin-

ing patterns of behavior, both positive and negative—for example, the success of an organization or enterprise in motivating people to engage in certain activities. n Data rarely reveal the ‘why’: In the aggregate, individual behaviors show up in the data, revealing patterns among certain demographics and groups. Data may prompt people to make assumptions, though they are only guesses

about the rationale of others’ behaviors, not a reliable basis for determining the best solution to address a problem. n The ‘why’ needs a qualitative approach: Whether the social group involves current customers, potential customers, vendors or any other population, the only way to discover the “why” is to engage with them in qualitative research such as interviews, focus groups and observation.

n Consider temporal and other factors: They also influence behavior, making solutions more difficult to find and less likely to remain effective over time.

n Rigorous testing can find the right solution: With big data analysis and smaller-scale qualitative research combined, organizations can gain deeper insights into both problems and their causes, which can then help inform solutions that are likely to produce a desired result. The best way to know the effectiveness of a solution is to conduct randomized testing using two similar groups: one that is offered the solution and one that is not.

Joel Shapiro is clinical associate professor and executive director of the program on data analytics at Northwestern’s Kellogg School of Management.

Improving cyber security means taking more care with what we digitize

By Andrew Burt & Dan Geer

S

ECURITY researcher Troy Hunt recently discovered one of the largest online troves of leaked personal information in history—a collection of nearly 773 million hacked e-mails and passwords.

Hunt’s discovery stresses a point: Once information is digitized, no one can fully guarantee its safety.

So how do we fix our cyber security troubles?

In two words: Slow down. The time has come to more purposefully control what we digitize.

This means slowing down the pace of adoption of networked technology with new laws and standards aimed at increasing the quality and reliability of any device with an IP address. And it means carefully preserving analog capabilities, even as we embrace the digital.

No technology in human history has been adopted as fast as the Internet. Slowing down this rate of adoption—by implementing new laws and standards and by ensuring that analog alternatives to select technologies are preserved—is the best way to insert a sustainable level of security into our increasingly complex cyber environment.

The burden of regaining control of our cyber security environment falls on governments, companies and individuals alike. To start with, laws must mandate that any system with net-

work connectivity either have a finite lifetime or accept updates.

Second, liability for cyber security flaws must be made clear, and software makers whose code causes glitches must be held to account, just like producers of other consumer or industrial products.

Last, governments and organizations must ensure that analog counterparts to digital capabilities are preserved even as we embrace new technologies. In almost all cases, software mechanisms have “common mode” failure paths between them, meaning if one service fails, the others do too. Existing analog services, on the other hand, in almost all cases, do not.

The widespread use of networked devices has created enormous benefits. We must not turn back the clock on these advancements.

Nor can we.

But when we embrace new technologies too quickly, as we have with Internet-connected devices, we can all too easily overlook the trade-offs we’ve made. Over the past decade, we’ve collectively chosen connectivity and convenience over security and privacy. That trade-off need not be permanent. The choice is still ours to make.

Andrew Burt is chief privacy officer and legal engineer at Immuta. Dan Geer is chief information security officer at In-Q-Tel.

E2 Monday, February 11, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

Work readiness of Filipino students and labor pushed

By Roderick L. Abad

A

Contributor

@rodrik_28

MID issues on job mismatch and the inability of some Filipinos to secure work, homegrown SFI Group of Cos. tied up with American firm ACT Inc. to push for an employment and skills development support program in the country to address the needs of the local labor force in terms of building the human capital in line with 21stcentury skills.

With this proposal, the process, platform, methodology and common criterion metric of the so-called Philippines Work Ready Communities (PWRC) are envisioned to be successfully adapted by the government for its national work force development strategy to ensure measurable outcomes.

“We wanted to address the skills that individuals would require in order for them to be employable,” SFI Group President and CEO Luis Alberto A. Anastacio III told the BusinessMirror in a sideline interview during the launch of their partnership held recently in Quezon City.

Primarily, PWRC is aimed at using the ACT System as a tool to upskill students, who are entering the labor market, and their trainees.

Statistics have shown that most Filipino learners lack the foundational skills that industries or companies look for potential employees to fill up vacant positions in their respective organizations.

In fact, only 20 percent or 120,000 of 600,000 college gradu-

ates in 2017 were employed, and the remaining 80 percent were either unemployed or underemployed, based on data from the Commission on Higher Education (CHED).

“With our partnership, we want the students to become careerready,” he said, while citing the various initiatives for the full-scale enforcement of PWRC framework.

SFI Group and ACT Inc. proposed that the national recognition of the Department of Education, CHED, and Technical Education and Skills Development Authority of the ACT assessment, training curricula and certification will become part of the career portfolio among students.

Under this initiative, they sought the use of the ACT System as the national tool for measuring workplace competencies (WorkKeys). These, in turn, will be integrated and contextualized in the existing curricula in basic education, technical education and higher education.

Likewise, they wanted the ACT WorkKeys curricula to be utilized as a bridging course/finishing course for students graduating and/or

moving up to the grade level. Such programs were already tried and tested to 520 third-year high-school students tapped for the Bataan ACT Efficacy Study in 2014, which showed positive results.

Called KeyTrain, this project had the ACT WorkKeys curricula applied to half of the participants for three months.

Per the findings, the KeyTrain syllabus significantly improved their foundational workplace skills in applied mathematics, locating information, and reading for information.

What’s more, about 300 participants qualified for International Career Readiness Certificate after intervention.

ACT is already implementing this program in selected areas in the Unites States. The Bataan ACT KeyTrain effectiveness study was rolled out in Brazil and Mexico, wherein 300,000 and 1 million students, respectively, are now benefiting from the project.

“We’re not saying that they’re a perfect curricula,” Anastacio said of the program’s courses. “But they could complement the current K to 12 curriculum that we have.”

As to the competency of the Filipino labor market, which currently counts between 44 million and 46 million, PWRC’s objective is to provide training options for the work force in terms of employability skills.

This is by way of extending and enhancing the current Philippine Talent Map Initiative (PTMI) competency framework with a common metric for evaluation based on the ACT WRC model.

Conducted by the SFI Group in collaboration with the Department of Labor and Employment, the PTMI study examined key strengths and weaknesses of the local labors when it comes to their level of foundational workplace competencies in

OPPA: Letting Filipino talent take flight

N

INE young, aspiring artists have been named as the fifth batch of scholars of the Original Pilipino Performing Arts (OPPA) Foundation.

The nine students receiving full scholarships for their respective arts courses, mostly in music performance, are from four OPPA partner schools: St. Scholastica’s College, St. Paul University Manila, University of Santo Tomas and Ateneo de Manila University.

All three of the St. Scholastica’s College scholars are on track to get their Bachelor’s degrees in music. Jose Marie Eserjose and Marloe Kyril Maruyama are Performance Majors for Violin and the Double Bass, respectively. Francine Allyros Tapaoan’s major is in Music Education with Violin Principal.

For Francine, being able to study music and to practice professionally is to continue the legacy of her late grandfather who was an accomplished violinist and composer.

“I used to play the guitar, until my grandfather died and I was moved to take up his instrument—the violin,” Francine said. “I just fell in love with it, because it truly feels like an extension of me—almost like I’m singing through my instrument.”

Charmers Bersaba, a violinist since childhood, is taking on his Bachelor of Music degree at St. Paul University along with Chaguz Antonio Oca, who is studying Music Education with a major in Technical Theater.

Originally a pharmacy student, Charmers has since found his true calling in music.

“I come from a simple family, so the plan was for me to take up a ‘practical’ course like pharmacy,” Charmers said. “But I found no joy in it. Music, on the other hand, makes me feel like I can be something great.”

Like Charmers, Chaguz was originally set to take a different path from music. Having gone to a science high school, the expectation was always for him to take a science major for college.

“I thought I was going to take up Chemical Engineering,” he recalled. “But I couldn’t ignore how my heart would soar whenever I was doing my ‘extracurriculars’ like singing in the choir or playing instruments for our church band or even just for fun.”

The most experienced in the group, Michael Jacinto has been conducting professionally for both marching bands and full orchestras. With the OPPA scholarship grant, he is now able to further hone his craft with a Master of Arts in Conducting degree at the University of Santo Tomas, together with Jan Romina Montenegro and April Jasmine Rosales who are both working towards their Bachelor of Music in Music Theater degrees.

“I was originally a trombone player in a marching band, until I was asked to fill in for the conductor once and I just never turned back,” Michael said. “When you conduct, it’s like being able to create your own music because you add your personal touch to the works of masters.”

The only nonmusical artist to be granted an OPPA scholarship this year is Elissa Joy Ofilada, a young poet and writer who is now enrolled in the Bachelor of Fine Arts, Major in Creative Writing program of Ateneo de Manila.

“I hope to create work that tells the story and struggle of ordinary Filipinos,” Elissa said. “I believe it’s the duty of the artist to face the social issues of their country and to shine a light on them.”

Most of the scholars learned about OPPA through the recommendation of their professors, while some heard about the foundation through social media and news about former scholars.

The selection committee for the fifth batch of OPPA scholars was composed of leading luminaries in the local performing arts industry, such as Philippine Opera

Company Artistic and Managing Director Karla Gutierrez, musical director Ejay Yatco, and writer and actor Rody Vera. Public Relations Assistant Director Archie Nicasio and CSR Officer Elaine Edlyn Castillo of Resorts World Manila were also part of the selection panel. The aspiring scholars gave their best during auditions at the award-winning performance venue, the Newport Performing Arts Theater at RWM. With the support of RWM through funding from the Resorts World Philippines Cultural Heritage Foundation Inc. (RWPCHF), OPPA has been cultivating Filipino talent by supporting the local industry through a holistic scholarship program for talented individuals. The resources will be channeled to grants and scholarships providing artists with avenues and opportunities for development, and elevating standards and capabilities by providing global expertise and resources.

“OPPA is taking huge strides to nurture young homegrown talents since our inception in 2015,” OPPA President and First Lady of Philippine Musical Theater Menchu LauchengcoYulo said. “The immense support from the RWPCHF, our partner schools, and practicing professionals in providing these young artists with proper education is a huge boost in our pursuit to institutionalize OPPA’s efforts to advance Philippine performing arts.”

Assured by OPPA’s support, the scholars can focus on reaching their full potential and use their talents and passion to contribute to Philippine arts and culture. The OPPA Foundation is now accepting new applications for scholarship for the next academic semester.

The OPPA Foundation was established in 2015 after the guidance of its founding chairman, Dr. Andrew L. Tan, in the pursuit to recognize and uplift the Filipino’s illustrious talent in various aspects of performance.

accordance to the 21st-century skills framework.

Such national undertaking also sought to analyze and evaluate the current issues and concerns of Filipino labor pool in terms of employability skills.

Results showed they lack the necessary higher-order thinking and socio-emotional skills expected in the contemporary workplace setting.

There is a need to implement an integrative, evidence-based and responsive career development program for the different labor force categories, such as students, trainees, employed and unemployed.

More so, the study suggested that the linkage among key players in education (policy-makers, school administrators, teachers, counselors, students and parents), in government, and in industry (employers, human-resource developers and trainers) in responding to the current trends, concerns and challenges that create academeindustry gaps, which, in turn, affect employability, work and career readiness, and work force development of Filipinos.

“So what if we can train thousands of people?” Anastacio said of the ACT System’s effect to enhancing the work readiness and employability of Filipinos. “Just imagine its impact not only to them, but also to the country’s economy.”

Looking forward, SFI Group and ACT target not only to enhance the career and workplace readiness of local talents, but also to develop the first national skills registry in the country to recognize workplace skills across industries and employment sectors.

SFI Group is a Filipino-owned company engaged into sourcing, recruitment and managed services.

ACT Inc. is awork force development solutions provider and assessment company from the United States.

Essay contest follows ‘Battle of Manila’ lectures at universities

J

AMES Scott, author of Rampage: MacArthur, Yamashita and the Battle of Manila, is scheduled to deliver a lecture and slide show at the University of the Philippines in Diliman and UP in Manila; Ateneo de Manila; University of Santo Tomas; De La Salle University; Far Eastern University; and the University of Asia and the Pacific, on February 13, 14 and 15.

To heighten university students’ interest in the almost-forgotten, but bloody 29 days from February 3 to March 3, 1945, of World War II when 100,000 noncombatant Manileños were killed, an essay-writing contest has been launched for students who attend the lecture.

First prize is worth P10,000; the two second prizes are P7,500 each; and the four third prizes are P5,000 each. The contest is open to college students aged 16 to 26 years old, who must show a certificate of enrollment from the student’s school, and proof of attendance at a lecture, or at the Ayala Museum book launch on February 12 at 4:30 p.m.

Two questions must be answered in the essay: the importance of the Battle of Manila in Philippine history; and its importance to the student as an individual.

The entry should be a two-page essay, double-spaced, 12 font in Times New Roman. Deadline for submission is 5 p.m. on March 16, 2019.

Memorare-Manila 1945, descendants of the Battle of Manila’s victims, are the contest’s sponsors.

For Online registration and rules, please go to https://tinyurl.com/battleofmanilaessay. Submission of entry: asklibrarian@ filipinaslibrary.org.ph. To ascertain entry has been received, call telephone 759-8281.

www.businessmirror.com.ph

5,000+ educators to assess future of Filipino education

O

N February 20 and 21 at the SMX Convention Center, Manila, the third annual EduTECH Philippines 2019 will once again bring together the Philippines’s entire education ecosystem to discuss new strategies, pedagogies and innovations to bring 21st-century quality education to all in the Philippines.

Sharon Roessen, managing director at Terrapinn Asia commented, “We are delighted to be returning to Manila once again for the third edition of EduTECH Philippines.

To have the support of the Department of Education and the endorsement of the Commission on Higher Education clearly cements EduTECH Philippines as a key annual event for educators and their partners in the Philippines. Our mission is to support educators and their partners in the Philippines to deliver a high standard of education for all students, and with that in mind, this year’s event is free to attend, so that all stakeholders can join this quest, regardless of budget.”

Opening the event as guest of honor is Education Secretary Leonor M. Briones, who will be addressing how they are working to “Bring quality education to all in the Philippines.”

Building on this, Jay Thompson, director of Educational Technology and Innovation, Dulwich College, Singapore; and Francis Jim Tuscano, head Ed-Tech Coach, Xavier School will also share about leadership by design and fostering innovation and

changemaking in students.

On the second day of the event, the keynote plenary focuses on nextgeneration learning and teaching. Fr. Benigno Beltran, SVD, chief learning strategist, Sandiwaan Center for Learning will open the session with a keynote on design thinking in education. Joining him is Mike Gilmour, deputy principal, GEMS World Academy, Singapore, who brings his experience on leadership and influencing organizational excellence through 21st-century skills.

Also adding international perspectives, William Sanchez, strategy and policy advisor, Saxion University of Applied Sciences, the Netherlands, will help educators get ready for a smart world with a session on the connected teacher and 21st-century learning. Rounding up the keynotes, Emie Baylon, education technology coordinator, De La Salle Santiago Zobel School concludes with “TEDx: Teaching empathy digitally and eXponentially.”

In addition to the visionary keynotes, there will be a series of case studies and sharing sessions across six theaters of content—K to 12, tertiary, STEM, tech innovation, EduBUILD & Business of Education and #Teachtechtalks. Over 150 inspirational speakers from across the Philippines will address key issues including K flipped learning, digital storytelling, integrated STEM education, education 4.0, makerspaces, partnerships and stakeholder management in education and more.

THE QUIDDITIES OF A GOOD EDUCATOR

By Dr. Andrea Mabel Edrad Abrencillo Special to the BusinessMirror

I

N my 23 years in the Department of Education, I was inspired by Canadian educator Carol Stephenson on her experiences that were almost the same as mine. I dearly love the teaching profession. I value leaders as people who do the right thing. I have witnessed a heterogenity of leaders in action—both good and bad.

Good is the person who leads or commands a group, organization, or country; works collaboratively and receptive to the ideas and views of others; enjoys talking with and listening to their employees and education stakeholders; develops an acute understanding of the peoples’ capabilities and potential while learning from their successes as well as their failures; and cultivate an atmosphere at work that stimulate creativity and engendered employee loyalty.

Bad is the person who commands and exercises control and who closets herself in their ivory towers—ruling by fear and intimidation. This person is the only one who knows everything as she is filled with egotism. This person is the worst to work with or for, and the organizations inevitably suffers from low morale, poor productivity and high turnover.

However, the best leaders: n Have a strong sense of values and a clear vision. These leaders not only talk about their ethical values, they live by those values. They continually foster a climate of trust—from what they say, to how they listen and to how they

act on what they learned through their vision. n Have a strong passion for helping learners. Can understand pedagogy inside out and are able to define “why,” while doing something different in their practice. They take a “known good” over an “unknown better” in most cases; and help make the unknown visible and show why it is better for learners. n Have a strong encouragement for teachers. They use the strengths-based leadership, something that should be standard with administrators to teachers, as it should be standard with teachers to kids. n Have a strong impulse toward something that promises enjoyment or satisfaction in its attainment. They establish the atmosphere of commitment, teamwork and energy that characterize successful organizations. n Have a strong commitment to prepare for the “clear the path.” They give the answer that “we need to change the policy before you can move forward” if it is possible. n Have a strong desire-needed for “elbow deep learning.”

They have done things that have not been done before, are willing to embrace the change that they speak about and are be able to talk from a place of experience. My most tectonic chops, these quiddities of a good leader will help you start from the uniqueness of your culture and organization thereby increasing your potentials by reflecting on this : Are teachers doing something better “because of me” or “in spite of me?”

Leaders must make a connection to the heart before they make a connection to the mind.

DLSU’s Kritika 2019 fellows and panelists announced

S

IX fellowships were awarded for the ninth Kritika La Salle National Workshop on Art and Cultural Criticism, held from February 7 to 9, at the Philippe Jones Lhuillier Conference Room, 14F Henry Sy Sr. Hall, De La Salle University, Manila.

Kritika is a workshop in criticism covering various arts and cultural practices, including literature, visual arts, multimedia, food and popular culture, heritage preservation and cinema. In this workshop, established art critics and talented young scholars gather to form an intellectual community. In line with contemporary critical practice, Kritika retains interdisciplinary ways of approaching artistic and cultural texts. This

practice is enriched by the creative integration of concepts and approaches from diverse disciplines.

The 2019 fellows were Cecille N. Baello (film); Jose Justin P. Mojica (film); Chris David F. Lao (literature); Christine Marie L. Magpile (food and popular culture); Denise Angela S. de Vera (popular culture); and Jose Reylan B. Viray (visual arts).

Rolando B. Tolentino, associate for criticism of DLSU Bienvenido N. Santos Creative Writing Center, was workshop director. He was supported by a distinguished panel of experts composed of art critic and artist Cid Reyes; critic and poet Shirley O. Lua; historian and dramatist Jose Victor Z. Torres; and critic and poet Carlos M. Piocos III.

Marketing BusinessMirror

www.businessmirror.com.ph

Editor: Efleda P. Campos • Monday, February 11, 2019 E3

WHAT CAN WE EXPECT FROM INFLUENCER MARKETING IN 2019?

D

By Millie F. Dizon

a strained relationship between brands and influencers. Although brand affinity and creator authenticity are crucial for marketers, less than one-third trust influencers to create content.

That’s because many marketers still want to control and doublecheck influencer content before it goes live, and some even want final approval.

Having the right tools for vetting and identifying high-impact influencers could ease the tension. With better brand/influencer relationships, influencers can create more authentic messages with brands and consumers alike can trust.

Sincerely, Irene F. Dear Irene, It was nice of you to mention that you regularly read our column in your letter. This makes my colleagues and I very happy.

You are correct in saying that influencer marketing has become mainstream in marketing and public relations programs today. Like everything else, however, this has evolved in time, and the use of influencers is approached with more caution. There are trust issues, as there is a lack of tools to measure effectivity.

“Word of mouth works, and influencer marketing has proven its worth on a wide range of channels and platforms—the latest of which is social media,” said Buzzoole, an influencer marketing platform in a Marketing Profs.com article “What’s Next for Influencer Marketing?”

We are, after all, captivated by influencers on social media. Who doesn’t want recommendations from trustworthy sources? And what brand doesn’t want to be the one recommended by influential socialmedia users?

Despite its current popularity, “the increasingly crowded and convoluted influencer-marketing space is facing some big challenges. Marketers and brands are starting to think about influencer marketing in a more strategic way, and they are demanding more from their partnerships: more transparency, more accountability and better education overall.”

With that, Buzzoole teamed up with Drum to survey 200 senior marketers for their insight on the state of influencer marketing in the United States and United Kingdom. The resulting report highlights some of the biggest challenges and opportunities in influencer marketing.

n Budget and strategy accountability. As the approach to influencer marketing evolves from the ad hoc to the strategic, there is a need to look into a dedicated influencer-marketing team. Establishing clear responsibility is an important step in improving the strategic value of influencer marketing.

These dedicated teams within the

THE BEST OF PHILIPPINE SUSTAINABLE DESIGN TAKES CENTER STAGE IN GERMAN TRADE FAIR #AMBIENTE19

n Turning influencers into advocates. Buzzoole’s survey also suggested

IN a bid to highlight the country’s flair in sustainable design, Philippine delegates from the furniture and home and lifestyle industries will present the best local products in Ambiente. The show will start on February 8, and will run until February 12, in Messe Frankfurt in Germany.

As the Philippines prepares for another world-class presentation of quality export products in Ambiente, Tony Gonzales, lead curator of the 2019 participation continues to inspire the Philippine delegates and the export manufacturing industry toward going sustainable.

“People often equate natural materials with sustainable materials. There is a myriad of natural raw materials in the Philippines, but, if you get a thousand orders of rattan furniture, is it still sustainable if you will destroy half of the forest? Sustainability is not only in the material. It should be embedded in the entire business process,” said Gonzales. “The country’s strength lies in its creativity. That is how we champion sustainability, by harnessing a material to its full potential. The capabilities of the Filipinos to create something out of nothing is how we revolutionize the green movement even way before sustainability became a trend,” added Gonzales.

How design manufacturers from the Philippines manipulate abaca is one example of its drive toward sustainability. In the past, abaca skin was discarded as only the inner core was considered important. However, Philippine

WWW.FREEPIK.COM

PR Matters

Those dishonest practices have resulted in a crisis of confidence in the industry.”

Samuel said the solution is to make the industry more transparent through more effective measurement and to change the definition of success.

EAR PR Matters, Thank you for your articles on PR and Marketing trends for the New Year. These remind us that we should always be ready for change, adapt quickly to these and constantly update our skills.

Last year you had many articles on influencer marketing. I believe this has since become part of many marketing programs. What can we expect from influencer marketing in 2019? How can we adapt these to our current programs?

Thank you. Your answer will be very helpful for us.

marketing department are tasked with managing influencer campaigns, budgets and relationships.

n Transparency both for businesses and consumers. With the social

influencer-marketing space imploding as agencies, ad-tech companies, and publishers all vying to get a piece of the pie, “the proliferation of tools, tech and consultants has unfortunately done little to reduce the overall confusion around influencer marketing.”

But as brands work to build better influencer strategies, “brands and audiences alike are calling for more accountability in the influencer space.

Consumer audiences want more insight into the ways brands are using influencers. Brands want more useful historical data about influencer performance.”

In fact, brands are now seeking education on best practices, influencer pricing for brands and the rules of the game.

n Fake followers and lost confidence. This leads us to the issue of

influencer fraud. Buzzoole Chief Commercial Ian Samuel said, “the industry obsession with reach has driven the rise of fraud and fake followers.”

A recent report from the New York Times found that “dozens of TV personalities and athletes were customers of companies that specialized in inflating their social-media status through the use of fake followers. manufacturers thought of a way to maximize the entire material and create other amazing products.

Banana trunks and leaves are also examples of materials that were usually overlooked but were maximized by Filipinos to create various furniture and home décor pieces.

“What was once considered as agricultural waste became an export product. That is what amazes and excites foreign buyers, our ability to turn what could have been trash into something valuable,” Gonzales noted.

With the theme “Sustainability Through Design,” LifestylePhilippines will highlight its sustainable products and processes in Ambiente, the world’s No. 1 trade fair in products associated with dining, living and giving. The 2018 Philippine participation in Ambiente exceeded targets as it generated $2.3-millon export sales and aims to replicate or surpass this achievement in this year’s edition.

n Data and accountability. While brands are happy enough to invest in influencer marketing, there is a lack of trust in measuring effectiveness.

Is it traffic? Sales? Shares? Impressions? Campaign goals?

Buzzoole said one of the biggest

challenges in the area is having access to the right tools. In fact, 42 percent of survey respondents still have to find the right tools to measure the effectiveness of their influencer campaigns. What’s more, respondents also said measurement is the biggest barrier for implementing effective campaigns and increasing influencer-marketing investment.

Ultimately, “what marketers need are the right tools for gathering the right data, and they need to use that data to enhance and inform influencer strategy.”

With better tools for reporting and measurement, for content control, and for increased transparency overall, the influencer-marketing space will continue to grow and flourish.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

ExecutiveViews BusinessMirror

E4

Monday, February 11, 2019 | www.businessmirror.com.ph

PURSUING EDUCATION FOR A BRIGHTER FUTURE T

By Rea Cu

HE pursuit of knowledge through education will always open opportunities most especially for those who are not afraid to learn. This can very much describe the journey of Benedict C. Sison into becoming Country Head and CEO of Sun Life of Canada (Philippines), Inc.

In an interview with the BusinessMirror, Sison said he believes that strengthening financial literacy efforts as well as connecting with consumers are stepping stones that would help broaden the reach of insurance in the country.

He pointed out that the country’s insurance penetration numbers still remain on the lower end as compared to its Association of Southeast Asian Nations (Asean) neighbors like Malaysia with a 3.3 percent insurance penetration and Thailand with 3.6% and Singapore with 6.6%, among others.

The Insurance Commission (IC) earlier reported that the country’s insurance penetration rate stood at 1.76 percent as of the third quarter of 2018.

The numbers show that the insurance industry in the country still has a lot of work to do in terms of increasing the number of Filipinos with some form of insurance, and Sun Life is not willing to shirk this challenge.

Sison explained that insurance companies would need to go beyond educating Filipinos on financial terms and concepts like saving, investing or being insured, but more importantly make them experience how it really works.

“One of the lessons that we learned in providing financial literacy campaigns is that teaching financial concepts is not enough. You need to give them an opportunity to practice what they've learned, to access financial products at affordable rates,” Sison said.

According to Sison, Sun Life has a four-pronged approach in line with ensuring that their financial literacy campaigns are efficient and effective, with the company making it understandable, as well as desirable, easy, and in the end should become a habit for Filipinos.

“Once it becomes a habit, that means your financial literacy has worked,” he added.

He explained that people should be made aware that insurance is not only useful in line with death benefits, as some people would say, but has living benefits as well. He was quick to add that insurance can be used for annuity, for estate planning, and even for making loans.

The bigger challenge of growing financial literacy efforts in the country was one opportunity that Sison wouldn’t let pass as this was one task that made him embrace being in the life insurance industry.

“I think it was the promise of a bigger challenge that made me join Sun Life...For me, the challenge there was moving from FMCG [fast moving consumer goods] to financial services in a market where financial literacy was just developing. So I saw that challenge as a wonderful opportunity,” he said.

The importance of education

STAYING in a household with 13 other siblings, Sison learned early on the value of education as his parents instilled in his mind at a young age that education is the only inheritance that they can impart to their children.

“I’m very privileged to come from a big family. I come from a family of 14 siblings, eight boys, six girls, one dad and one mom,” he said.

This made him more resourceful, and better adept at handling various different personalities, which proved to be an asset in the career world.

“I had to deal with 13 different personalities, so you tend to be able to just deal with it. Maybe that’s where I learned teamwork, leadership, and perseverance,” he added.

Sison graduated magna cum laude from the University of the Philippines with a bachelor of science in business administration degree, and continued to pursue activities that would continue to increase his knowledge in various industries.

He also earned a master of business administration in finance and accounting

degree from the University of California shortly after.

Words of wisdom that resounded with Sison coming from his father was that “no amount of difficulty can prevent you from achieving your goal, so long as you put your heart into it and believe that it can be done.”

The passion to learn more also led Sison to play his hand at different industries which at present led him to become the Country Head and CEO of Sun Life.

He became an internal auditor for Teledyne Inc. early into his career in the United States (US), after which he became audit manager for ConAgra Foods Inc., working for the company for about 20 years, and making his way up to become the ConAgra International Foods Group’s finance director for Asia Pacific until 2010.

Coming from an industry where you had to sell tangible products, it was very much new to Sison when he was offered a position in the insurance industry, wherein you had to sell intangible products. But he wasn’t scared at all to learn the ropes.

“[I said] no way, I have no experience in life insurance. I have no background in actuarial science...[But they said] skill sets are transferable, what's important is your capability and your potential. That’ s what they emphasized to me, are you willing to learn? And they saw that I was willing to learn,” he said.

He joined Sun Life Philippines in September 2010 as Vice President and CFO where he was responsible for the overall financial strategy of the company and its subsidiaries. In 2018, Sison was named Country Head and CEO of Sun Life.

“If someone is willing to bet on me, then why not, right? I never shirk challenges,” he added.

The challenge of breaking the cycle

SISON shared that a way for Sun Life to achieve its goal of having a financially prepared generation is when they are able to help break the cycle of financial burden and dependency which is happening to most Filipino families.

“When your parents are not able to

plan for their future, they end up depending or being a burden to their children, so [when this happens] the children will not also be able to plan for their future. Then they end up being a burden to their children as well, so there’s a cycle. Whereas, when you start them now [on being financially secure], you are able to cut that cycle of financial burden and dependency,” Sison said.

In line with this goal, Sison pointed out that the company is tapping millennials as well as the younger generation, helping prepare them at an early age in achieving financial security and independence.

“We also want to reach out to the younger segment of the market. It's very important to educate the young and the millennials because it’s our way of attempting to raise a financially prepared generation,” he added.

He said that preparing the young for a financially secure future is Sun Life's contribution to nation building.

And to get through to them, he explained that the company will have to embrace digitalization since this is the platform that the younger generation prefers.

“We have no choice but to embrace digital transformation. We look at it in two ways, one as an enabler, and another one as a new source of business or new distribution channel. That’s how the millennials want it, so you better be in their world to be able to do business with them,” he said.

In store for 2019

SISON expressed optimism that Sun Life would maintain its top ranking position in line with being the best life insurance company in the Philippines for this year and hopefully in years to come, as he further pushes financial literacy efforts of the company under his leadership, as well as making their clients “clients for life.”

“2019 is a critical year, as we prepare for 2020. We will have to sustain our leadership in the market. We have been a leader for the past seven years, so I am confident that we will end the year on

top,” Sison said.

The year 2020 was pointed out to be a major milestone for Sun Life as it will celebrate its 125th anniversary, with it being the first insurance company in the Philippines to achieve such a milestone.

“In other words, we are the longest standing insurance company in the Philippines. 2020 is also the year when we will achieve our goal to have five million clients,” he added

Under its R1SE PH campaign, Sun Life aims to have five million clients by 2020 in line with its efforts to increase its market share and helping more Filipinos.

The program was launched in 2015 starting at 1.5 million clients, growing to 3.8 million as of September 2018.

“At the center of everything that we do is the client. So any initiative that we introduce will have to benefit them. What we plan to do this year is to deepen our relationship with our clients with the objective of making them our clients for life,” he said.

Sison believes that the company’s lifetime partnership with its clients will differentiate them from other insurance companies.

“We just don’t like to sell products, we’d like you to be our clients for life.

That’s what we are planning to do. We want to get closer to our clients and deepen our relationship with them. We want to know what they need so we will be able to address it. And this can only happen if our relationship deepens, if it goes beyond the customer-buyer relationship,” he added.

He also explained that the insurance industry is expected to sustain its double digit growth this year, on the back of an improving outlook for the Philippine economy, adding that the government’s infrastructure build-up program or its “Build, Build, Build” (BBB) will help the insurance industry have assets to invest in.

“The BBB will support the growth momentum of the country. It is beneficial to us because insurance companies have long-term liabilities, so we are looking for long-term assets to invest in. The BBB is long-term, so it’s a perfect match for us, and perfect opportunity to invest. We support that,” he said.