BusinessMirror February 13, 2019

POLL MAGIC NOT A BIG GROWTH BOOST

By Bianca Cuaresma @BcuaresmaBM

T

HE Philippine economy is expected to grow faster this year, but only by a few notches above last year’s numbers, as higher interest rates and budget delays will likely bite into the capital formation segment of the country’s growth, according to some private economists.

At the ING Bank’s annual economic forum in Makati City on Tuesday, the bank’s economists discussed growth prospects in and out of the country—with the conclusion that most of the risks to the country’s growth numbers for 2019 will emanate from local forces rather than global developments this year.

A WORKER is framed by concrete pipes stacked at a construction site inside the New Clark City, one of the big-ticket infrastructure projects that began this year. A private economist said the delay in the approval of the 2019 budget will cut into the growth of capital formation in the country, as public construction will likely suffer with an unapproved budget. NONIE REYES

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

The bank’s Manila-based senior economist, Nicholas Mapa, forecast local growth to hit 6.3 percent in 2019. This forecast is higher than the actual 2018 growth number of 6.2 percent.

While Mapa’s forecast signals an acceleration in economic activity for this year, it pales in comparison to the growth rates seen in the last three election years.

In 2010, an election year, the growth hit a rate of 7.6 percent. The 2013 election year generated a 7.1-percent growth for the country and the latest 2016 presidential election year yielded a gross domestic product (GDP) expansion of 6.9 percent.

According to Mapa, election years historically provided a boost to economic growth due to the polls’ ability to cause a

surge in the growth of capital formation in the economy for the year.

In 2010, for example, capital formation surged to a 4.4-percent growth, stronger than the then 2-percent growth in household consumption. The trend follows in 2013 with capital formation ballooning to a 4.3-percent growth compared to the 3.3-percent growth in consumption.

In 2016, capital formation hit 4.9 percent to offset the strong deficit in the country’s net trade numbers. The segment also grew faster than the 4.1-percent growth in household consumption.

For this election year, though, Mapa said capital formation is only expected to grow by 3.3 percent—a flat number from See “Poll magic,” A8

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

n

Wednesday, February 13, 2019 Vol. 14 No. 126

Govt, biz split on cause of tempered exports data

W

By Elijah Felice E. Rosales

@alyasjah

HAT is to blame for the tempered exports performance last year? For the government, it is the trade conflict between the United States and China. For exporters, it is the uncertainties brought about by the proposed rationalization of incentives.

Trade Secretary Ramon M. Lopez said the collapse of the multilateral trading system heavily impacted the import bill of Philippine products. He argued this was most evident in the export receipts of electronic products and semiconduc-

tors—the country’s top exports.

“On the market side, since the Philippines, as well as 10 other Asian economies, suffered from an export decline in December, it is quite apparent that the downward trend in exports was brought

about by softening global demand induced by global growth slowdown, as well as increased uncertainty, amid escalating US-China trade tensions,” Lopez said in a text message to reporters.

“Electronics supply chain in

“Worst case is departure of companies for countries with [a] more conducive investment climate, like Vietnam, Thailand, Malaysia and Indonesia.

I don’t see this happening this year, but this may happen in subsequent years.”—Lachica

the region was adversely affected, as lower orders from one country can lead to lower orders in other supplier countries. Electronics sector, which used to average over 5-percent growth, has now settled at 2.8-percent growth,” he added.

Data from the Philippine Statistics Authority (PSA) showed export receipts of electronic products last year expanded 2.8 percent

T

@caiordinario

RADE headwinds will pose risks to the country’s export and import performance this year, according to the National Economic and Development Authority (Neda).

In a statement, Socioeconomic Planning Secretary Ernesto M. Pernia said policy uncertainties, amid trade tensions between the United States and China, will significantly affect the country’s exports this year.

In 2018, the Philippines already registered lackluster trade performance with exports posting a contraction of 1.8 percent. Imports was able to eke out a 2.8-percent fullyear growth last year.

“Merchandise trade in all the monitored Asian economies continued to weaken in the last month of 2018, as the region began to feel the impact of the weakening Chinese economy and the US-China trade tension,” Pernia said.

“Policy uncertainty remains a threat to global trade, investment and output, especially as US-China trade tensions continue,” he added.

Ateneo Center for Economic Research and Development (Ac-

The fundamentally caring character of states

Teddy Locsin Jr.

FREE FIRE STATEMENT delivered by Gil S. Beltran, undersecretary, Department of Finance, government of the Philippines, at the 57th Session of the Commission for Social Development on February 11-21, 2019, UN Headquarters, New York.

Madame Chair,

N

O development policy is sound that does not put the greatest number of people at the front and center. Wealth that is enjoyed only by the few is no better than poverty for it breeds inequality, fosters social exclusion and creates a divide that takes generations to close.

Continued on A6

See “Exports,” A8

PHL Econ Freedom Index seen to improve

1.8%

T

According to Sangcopan, the framework is needed as there are global Islamic financial institutions interested in the DBP-owned AIIB, but are waiting for a general framework.

“In the House of Representatives, we already approved on third reading House Bill 8281 that seeks to provide for the Islamic banking

HE Department of Finance (DOF) expects the country’s ranking in line with the Index of Economic Freedom (IEF) for economies of the Heritage Foundation to improve in 2020, coming from the 70th spot among 186 economies in 2019.

In the DOF’s latest economic bulletin from Finance Undersecretar y Gi l S. Beltran, the department said it expects the Phi lippines’s rank ing to r ise in 2020, as reforms will be put in place by the government to boost development.

This year it bore an overall score of 63.8.

“For index year 2020, the country’s score is expected to improve significantly,” the DOF said.

Measures seen to enhance the country’s economic stance include: the signing of the Personal Property Security Act, which is seen to improve the score on property rights; and the signing of the rice tariffication bill, which will also reduce the penalty for nontariff barriers in the computation of the trade freedom index.

Furthermore, the DOF said full

Continued on A2

Continued on A2

The contraction of Philippine exports in 2018. Imports eked out a 2.8-percent full-year growth

erd) Director Alvin P. Ang told the BusinessMirror that external trade performance this year will be moderate mainly due to the weakness in China’s economy.

However, exports performance will still be able to recover to singledigit growth this year, while imports may post a 12-percent growth.

Ang said exports performance will be less than government expectations, which is at 6 percent this year. His expectation of imports growth is slightly higher than government estimates of 9 percent.

‘Deeper forces at work’

FOR Philippine Institute for Development Studies (PIDS) Senior Research Fellow Roehlano M. Briones, further economic global growth slowdown will make or break trade performance this year, especially export earnings growth.

See “Trade headwinds,” A2

PESO EXCHANGE RATES n US 51.9980

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 6 sections 28 pages | 7 DAYS A WEEK

Trade headwinds pose risks to PHL exports, imports in 2019–Neda

By Cai U. Ordinario

2017 EJAP JOURNALISM AWARDS

CUT-FLOWER CAPITAL Enterprising vendor Margarita Bagayan entices visitors with bouquets of mixed blooms along Harrison Road in Baguio City, just in time for Valentine’s Day and the Panagbenga Festival. Despite the varieties of cut flowers, roses still remain as the best-seller, commanding P1,200 per bundle. The high-value blooms come from the uplands of La Trinidad, Benguet, dubbed as the Cut-flower Capital of the North. SUZANNE JUNE G. PERANTE

DBP urged to lobby for Islamic banking bill

By Jovee Marie N. dela Cruz

A

@joveemarie

LAWMAKER on Tuesday appealed to the Development Bank of the Philippines (DBP) to lobby before the Senate the passage of the Islamic banking and financing framework in the country, as certain parties are interested in the

DBP-owned Al-Amanah Islamic Investment Bank (AIIB).

Party-list Rep. Amihilda J. Sangcopan of Anak Mindanao made the push following DBP’s pronouncement that there is no initiative in forwarding and creating the law on an Islamic banking framework in the country despite the lower chamber’s approval of a measure creating such framework.

n JAPAN 0.4711 n UK 66.8850 n HK 6.6259 n CHINA 7.6558 n SINGAPORE 38.2170 n AUSTRALIA 36.7262 n EU 58.6433 n SAUDI ARABIA 13.8654

Source: BSP (12 February 2019 )

News

BusinessMirror

A2 Wednesday, February 13, 2019

Abolition of regional wage boards seen to cut distortions

T

By Butch Fernandez

@butchfBM

HE Senate is poised to hold a series of public hearings in aid of remedial legislation creating a new National Wages and Productivity Commission to replace existing Regional Tripartite Wages and Productivity Boards (RTWPBs).

The abolition of the regional boards and creation of a new commission was proposed in a bill filed

by Sen. Joseph Victor Ejercito to more effectively “address regional wage distortions.”

Ejercito’s Senate Bill (SB) 2205 is expected be promptly referred to the Senate Committee on Labor, Employment and Human Resources Development Committee as soon

as Congress reconvenes plenary sessions on May 20.

Chaired by Sen. Joel Villanueva, the Labor Committee will then hold public hearings before elevating SB 2205 for plenary consideration.

To be known as “An Act Amending Presidential Decree 442, as Amended, Otherwise Known as the Labor Code of the Philippines, and Providing for the Rationaliza-

“The RTWPBs have failed to ensure decent standard of living for the Filipino workers in different regions of the country.”—Ejercito

tion of Wage Levels on a National of Industrial Basis,” the proposed commission will function primarily to “determine and fix” national wage rates according to industries and issue corresponding wage orders, Ejercito said.

He cited a 2018 World Bank Report that noted the pace of poverty reduction in the country “has been slow” despite the “generally good economic performance.”

The senator stressed this makes a review of the wage structure “not only urgent but imperative,” noting that higher wages are “among the most fundamental dimensions

for inclusive growth aside from job creation. He also invoked the 1987 Constitution guarantees’ full protection to labor and warrants that workers shall be entitled to security of tenure, human working conditions and living wages.

“However, reality reneges against the policy declaration in the Constitution,” he noted.

Ejercito pointed out that the regional tripartite wage boards created under Republic Act 6727, also known as the Wage Rationalization Act of 1989, were mandated to study, fix and raise wages on a regional level based on poverty threshold, employment rate and cost of living specific to the region.

“However, this has been seen as ineffective since wage distortions have emerged in different regions,” the senator said, adding: “The RTWPBs have failed to ensure decent standard of living for the Filipino workers in different regions of the country.”

DBP urged to lobby for Islamic banking bill framework in the country,” she added. The Senate has yet to release a committee report on the said proposed law.

For his part, Senate Committee on Banks Chairman Francis Escudero appealed in behalf of the AIIB to push the bill amending the charter of the AIIB first, instead of the framework.

In November 2018, the House of Representatives approved on third and final reading House Bill 8281 or “An Act Providing for the Regulation and Organization of Islamic Banks.”

Speaker Gloria MacapagalArroyo said the lack of effective access to responsive financing is one of the main challenges to the growth and development of micro, small and medium enterprises (MSMEs) in the country.

Double setback

“THIS obstacle is doubly experienced by our Filipino Muslim entrepreneurs in the Autonomous Region in Muslim Mindanao [ARMM]-Bangsamoro Region and in different parts of the country with the absence of banking and financial services that are compliant with the principles of Shari’ah or Islamic law,” said Speaker Arroyo.

She said Islamic banking and finance in the Philippines is limited by three major challenges: 1) lack of a clear regulatory framework for Islamic banking and finance, where existing laws do not provide for the policy infrastructure needed to enable Islamic banks to thrive and current tax laws also subject Islamic

financing products to more taxes; 2) lack or scarcity of experts on Islamic banking and finance; and 3) lack or very low investor awareness and acceptance of Islamic banking and finance.

According to the BSP, Islamic banking is the fastest-growing component of financial services worldwide, and it continues to grow by 21 percent despite the challenging global context.

More than 600 Islamic financial institutions operate in more than 75 countries and almost all major multinational banks offer Islamic financial services.

BSP’s role

THE bill mandates the Bangko Sentral ng Pilipinas to exercise regulatory powers and supervision over the operations of Islamic banks. The BSP shall issue the implementing rules and regulations on Islamic banking.

Islamic banks may exercise the general powers of a universal bank that are consistent with the principles of Shari’ah.

The measure also provides that the Monetary Board may authorize the creation of Islamic banks and the conventional banks to engage in Islamic banking arrangements, including structures and transactions, through a designated Islamic banking unit within the bank, provided that the Islamic banking unit is separate from its conventional banking transactions.

Likewise, the Board may authorize foreign Islamic banks to establish Islamic banking operations in the Philippines under any

of the modes of entry provided for under Republic Act (RA) 7721, as amended, otherwise known as “The Liberalization of Entry and Operations of Foreign Banks.”

Islamic banks shall be allowed to perform banking services, such as accepting or creating current, savings accounts and investment accounts, foreign currency deposits, and shall act as correspondent banks and institutions to handle remittances or any fund transfers, accept drafts and issue letters of credit or letters of guarantee, negotiation notes and bills of exchange, evidence of indebtedness, among others.

Islamic banks shall comply with pertinent laws, rules and regulations applicable to private corporations engaged in banking, such as “The Corporate Code of the Philippines” (Batas Pambansa 68), as amended.

Islamic banking units shall be operated and managed pursuant to a management and organizational structure, which should be properly disclosed and segregated from the operations of the parent bank.

The capitalization requirements of an Islamic bank shall be equal to those prescribed by the BSP for a universal bank. The BSP shall take the necessary steps to have the shares of stock listed in any duly registered stock exchange.

In addition, the BSP shall prescribe prudential regulations and standards of conduct to promote the sound financial position of Islamic banks and to ensure integrity, professionalism and expertise in the conduct of their

PHL Econ Freedom Index seen to improve implementation of the TradeNet. ph, which aims to cut red tape in the processing of trade-related documents by 76 trade regulatory agencies, will strengthen privatesector participation in the economy.

For index year 2019, the Heritage Foundation ranks the Philippines 70th which is nine notches down from the rank in index year 2018 of 61.

The Heritage Foundation is a think tank based in Washington, D.C., in the United States. The IEF is weighed equally by 12 quantitative and qualitative factors grouped into four broad categories: rule of law, government size, regulatory efficiency and open markets.

It defines economic freedom as the fundamental right of any person to control his or her own labor and property such that

individuals are fee to work, produce, consume and invest in any way they please and that governments allow labor, capital, and goods to move freely and refrain from constraining liberty.

Factors that posted a growth in the indices include: the Philippines’s property rights, which was given a score of 48.7 in 2019 coming from 45 in 2018; and labor freedom with 57.9 from 57.6 in 2018.

“As in any measure, the IEF leaves out important details. For example, the Foundation puts a premium on small government without regard for the economy’s developmental stage; thus, there is a penalty for increasing government spending whether an economy is industrialized or developing. But a developing economy may require greater government involvement in

the economy as in the provision of infrastructure and social services such as basic education, health and social protection,” the DOF said.

Those that posted a decrease include: the country’s government integrity, which was scored 30.9 from 34.4 in 2018; judicial effectiveness at 36.4 coming from 38.2; tax burden at 76.9 from 78.9; government spending with 88.7 from 89.3; fiscal health with a score of 97.1 from 97.7; business freedom at 61.3 from 62.6; monetary freedom at 69.6 from 76.3; and trade freedom to 78.2 from 80.7 in 2018.

“Conversely, improving tax administration, which results in a higher tax effort, can mean a lower tax burden score. The Foundation also does not take into account equity issues of progressive tax system.

Since the IEF simply takes the high-

Continued from A1

business, affairs and activities.

These standards shall take into account international best practice and principles relating to, but not limited to capital adequacy, liquidity, corporate governance, risk management, related party transactions, maintenance of reserve funds, prudential reporting, investment ceiling and limitations, prevention of an institution from being used intentionally and unintentionally, for unlawful activities and consumer protection.

The government shall endeavor to achieve neutral tax treatment between Islamic banking transactions and equivalent conventional banking transactions within the provisions of the National Internal Revenue code of 1997 RA 8424), as amended.

Any director, officer, employee, auditor or agent of an Islamic bank who is found guilty of any act or omission in violation of any provision of the Act and its implementing rules and regulations shall be subjected to the sanctions and penalties under Section 34, 35, 36 and 37 of RA 7653, and shall be punished by a fine not exceeding P1 million or by imprisonment of not more than five years, or both, at the discretion of the court, without prejudice to administrative and criminal sanctions that may be imposed pursuant to existing banking laws and regulations.

The government shall provide programs for increased consumer awareness and capacity building required by the expanded Islamic banking system.

Continued from A1

est marginal tax rate in the computation of the index, the score of the Philippines was reduced because the highest marginal personal income-tax rate was increased from 32 percent to 35 percent. However, the IEF did not take into account the correction made for bracket creep, which benefited millions of ordinary salary workers,” it added.

The indices on investment freedom and financial freedom were each given a score of 60 this year, the same as last year’s scores.

“TRAIN [Tax Reform for Acceleration and Inclusion law] is precisely a fiscal reform to finance developmental goals, among others. It is not lost on TRAIN that there is no such thing as free lunch. Put another way, economic freedom does not come free,” the DOF said. Rea Cu

www.businessmirror.com.ph

BTr makes full award of P20B for T-bonds

By Rea Cu

@ReaCuBM

T

HE Bureau of the Treasury (BTr) awarded P20 billion for seven-year Treasury bonds (T-bonds) auctioned off on Tuesday, as strong liquidity is seen in the market.

National Treasurer Rosalia V. de Leon said there is liquidity in the local market as tenders for the Tbond amounted to P66.917 billion, more than thrice oversubscribed from the P20 billion on offer.

“So again, we see very strong participation in the auction today. We are pleased about the results 100basis-point reduction...you see the lowering of the rates from the 7.09 percent down to 6.25 [percent],” de Leon told reporters.

In line with this, the auction committee decided to open its tap facility anew, offering P10 billion for the seven-year T-bond with a coupon rate of 6.250 percent.

The average annual rate for the security settled at 6.087 percent, a 100.30-basis-point reduction compared to the previous auction rate of 7.090 percent.

“And then we see also the bid to cover is about three times, and we still see very strong liquidity. And we are going to open the tap [facility] for additional P10 billion. It just shows that we have a very strong

DOT. . .

Continued from A8

Kosher food TO attract more Israeli tourists to the Philippines, Rajah Tours President Jose C. Clemente III said,“If we can provide kosher food [for them], that’s a plus factor.” Sans kosher cuisine, which is consumed by strict Jewish practitioners, he said, “halal or Persian food” are suitable alternatives.

Kosher and Halal cuisines are similar as they involve their respective religious leaders praying over the preparation of meats and other food ingredients to ensure their cleanliness, before these are cooked and served to diners.

Clemente is also in Tel Aviv to attend the two-day IMTM, which started on Tuesday, and had touched base with a few Israeli counterparts on Sunday. “I’m meeting a few clients also [at the IMTM].

This is more exploratory for me,” he said, it being his first time to attend the travel expo. “We heard good feedback from last year’s participants.”

Other private-sector representatives in the Philippines delegation included Manila-based Israeli-owned tour operators, as well as sales staff from Shangri-La Resort in Boracay, El Nido Resorts Group, and Filipino tour operators.

The DOT has said Israeli tourists are drawn to the Philippines for vacation and leisure, and stay an average of 20 nights per trip. Among their favorite places are Manila, Cebu, Boracay, Pala-

cash position,” she added.

The coupon rate for the T-bond of 6.250 percent was still lower than the average coupon rate of 7.09 percent, which came from the previous auction of seven-year T-bonds in December 2018.

She explained that the demand for the seven-year debt paper can be somewhat attributed to the market’s expectations of inflation reverting downward, as the Bangko Sentral ng Pilipinas (BSP) earlier said it expects inflation to fall within the band of 2-4 percent this year.

“I think there’s still their preference of the belly of the curve. At the same time, they are taking advantage of the rates right now because they see that rates will eventually taper down given that they would expect inflation to really [be] on a downtrend, to decline significantly coming from the pronouncements of the BSP [that] they see it [to] be going back to the target path of 24 percent,” she said.

The tap facility is only made available to the Treasury’s 10 market makers, namely, BDO Unibank Inc., Bank of the Philippine Islands, China Banking Corp., Citibank Philippines, Development Bank of the Philippines, First Metro Investment Corp., Land Bank of the Philippines, Metropolitan Bank and Trust Co., Rizal Commercial Banking Corp. and Security Bank Corp.

wan, Banaue and Puerto Galera.

Friends since the 1930s IN her speech, Romulo Puyat pressed on the “long and eloquent history of friendship” between the Philippines and Israel, which began in the 1930s, when President Manuel L. Quezon gave safe haven to 1,200 Jewish refugees fleeing Nazi persecution in Europe by granting them visas.

Both countries then signed a Treaty of Friendship in 1958, which she said was“further solidified during President Rodrigo R. Duterte’s official visit to Israel in 2018, marking the first time a sitting Philippine president has ever set foot in Israel.”

She also outlined some of the reasons for Israelis to visit the Philippines, or “excuses to keep coming back.” Among them are its “sustainable tourism” tack, the wide array of Filipino dishes, its rich cultural diversity, marine biodiversity, beaches of varying sand colors (“Walk on white sand, brown sand, black sand and even pink sand—what more can you ask for?”), as well as activities tourists can engage in like surfing, cave exploring and boodle fights.

“It was not a long time ago when we offered our country as a refuge for the Jewish people; now, we open the same welcoming door for all of you as your home in Asia—this time for your leisure and relaxation, cultural immersion, soft adventure, as well as exciting ecotourism activities. We welcome you all with one promise...it is more fun in the Philippines.”

Trade headwinds. . .

Briones said there are“deeper forces at work”that have affected trade performance in 2018 than fears that market uncertainties the pending Trabaho bill is creating.

“Strong demand continues to drive imports, weak external demand leads to contraction in exports,” Briones said.

To mitigate this impact, the national government should continue to work on legislative reforms that will open up sectors for foreign investment,” Pernia said.

He added that, given the widening current account deficit due to the trade gap, the proposed amendments to the Foreign Investment, Retail Trade and Public Services Acts must be pursued.

“We should encourage foreign firms to transfer their manufacturing facilities in the Philippines and to take advantage of the growing domestic market,” he said.

Weak Chinese economy NEDA Undersecretary for Planning and Policy Rosemarie G. Edillon told the B usiness M irror that the country’s

Continued from A1

trade per formance in 2018 was mainly due to the weak Chinese economy.

The weakness in the Chinese economy, which was due to the trade tensions, is also being felt in many other Southeast Asian economies.

In December, PSA data showed exports contracted 12.3 percent, while imports declined 9.4 percent.

Electronics exports and imports also suffered a contraction of 15.2 percent and 1.6 percent, respectively.

“Trade in other countries [e.g., China, India, Indonesia, Singapore, Thailand] contracted as well, while it hardly changed in Malaysia and Vietnam,” Edillon said.

The PSA reported that the country’s total merchandise trade contracted by 10.5 percent, reaching $13.2 billion in December 2018. This is the first negative growth posted since July 2016.

Nevertheless, total merchandise trade for full year 2018 still grew by 7 percent, reaching $176.4 billion, compared with the $164.8 billion recorded in 2017.

www.businessmirror.com.ph

The Nation BusinessMirror

Judge orders release of cop-turned-witness in Jee kidnap-slay case from police custody

By Joel R. San Juan

@jrsanjuan1573

T

HE Regional Trial Court (RTC) of Angeles City in Pampanga has granted the plea of a police officer to be discharged from the custody of the Philippine National Police-Anti-KidnappingGroup(PNP-AKG)afterfulfillinghis obligation as state witness in connection with the October 2016 kidnap-slay of South Korean businessman Jee Ick Joo. In a two-page ruling dated January 30, Angeles City RTC Branch 56 Judge Irin Zenaida Buan held that SPO4 Roy Villegas has already concluded his testimony on the case, which warranted the approval of his request.

“Based on the proceedings held in these cases, it appears that witness Villegas [had] already finished his testimony, thus, it can be concluded that he already fulfilled his duty as a state witness. With the completion of the testimony of witness Villegas, there is no more valid reason to recall his discharge, thus, the effect of his discharge should be given effect,” the ruling said.

Villegas had identified SPO3 Ricky Sta. Isabel as the one who strangled Jee to death after talking to a “sir Dumlao,” who later turned out to be Police

Supt. Rafael Dumlao III, a former official of the PNP-AKG, and one of the respondents in the case.

The policeman claimed that when he realized it was not a legitimate police operation, he did not resist and continued to obey instructions for fear of his life and the safety of his family.

Sta. Isabel and co-accused Jerry Omlang earlier opposed Villegas’s request, citing their pending petition for certiorari before the Court of Appeals (CA).

This was denied by Judge Buan citing lack of legal basis.

“The amendments in Section 7, Rule 65 of the Rules of Court clearly mandates that the pendency of a petition for certiorari will not interrupt the course of the main case unless a temporary restraining order or a writ of preliminary injunction is issued by the appellate court,” Judge Buan ruled.

Sta. Isabel, Omlang and Dumlao are charged with kidnapping for ransom and homicide, while Gerardo “Ding” Santiago, owner of the Gream Funeral Services in Caloocan City where the body of the South Korean businessman was brought, was charged as an accessory to the crime. Omlang is an errand boy at the NBI who surrendered and confessed to his participation in the crime.

Editor: Vittorio V. Vitug • Wednesday, February 13, 2019 A3

Duterte okays expansion of DA’s solar-powered irrigation projects

A

By Jasper Emmanuel Y. Arcalas

@jearcalas

GRICULTURE Secretary Emmanuel F. Piñol on Tuesday said President Duterte has given him the imprimatur to pursue talks with an Israeli agro-industrial firm for the possible funding of the Department of Agriculture’s (DA) flagship program for the acquisition and installation of solar-powered irrigation systems (SPIS).

The DA chief said the President gave him the directive following Duterte’s dialogue with Israeli Ambassador Rafael Harpaz last week, where they discussed the Western Asian’s interest to invest in the Philippine agriculture sector.

LR Group, an Israeli agro-industrial firm, recently proposed to fund and build 6,200 units of SPIS nationwide, which is valued at around P44 billion.

Once completed, the irrigation systems project, which has been ag-

₧44B The cost to acquire and build 6,200 units of solar-powered irrigation systems

gressively pushed by the DA since Piñol’s leadership, would cover 500,000 hectares of rice and high-value crops farms over the next three years, Piñol said. This, he added, would be able to plug the shortfall in local output and could potentially wipe out the country’s rice imports.

“The offer to fund and construct 6,200 units of SPIS is a major breakthrough in the productivity program of the DA, especially in rice, where only 1.2 million hectares, out of 3.9 million, are irrigated,” Piñol said.

“When completed, the SPIS cov-

ering 500,000 hectares could increase Philippine rice production by 4 million metric tons of paddy rice, or 2.6 million metric tons of milled rice,” he added.

The establishment of the SPIS nationwide would be in partnership with local construction companies, according to Piñol.

Furthermore, the LR Group’s proposal includes a 10-year loan that would be “guaranteed by both the Philippines and Israeli governments amounting to P44 billion,” he added.

Piñol said there are only about 200 SPIS either built or currently being constructed nationwide because of “lack of budgetary allocation.” The SPIS project has been endorsed by Duterte in March 2017 as part of the government’s measures to improve the country’s food security.

Israel’s proposal would still undergo review by the National Economic and Development Authority, which would later on endorse the project to the President, according to Piñol.

DOJ clears Cavite Mayor Desagun, 2 others, Customs turns Sara Duterte’s HNP party launches drive for midterm polls in Pampanga in killing of Vice Mayor Lubigan and driver over ₧90-M

By Ashley Manabat Correspondent

C

ITY OF SAN FERNANDO— Davao Cit y Mayor Sara Duterte’s Hugpong ng Pagbabago (HNP) kicked off its political campaign for the May midterm elections at the capitol grounds here on Tuesday by presenting 12 of its 13 senatorial candidates who were warmly welcomed by about 20,000 to 23,000 Capampangans.

Capampangan leaders, led by House Speaker Gloria MacapagalArroyo and Gov. Lilia G. Pineda as well as the whole Kapanalig at Kambilan ning Memalen Pampanga (Kambilan) party slate of the provincial administration party, were present during the opening salvo of the first day of the 90-day campaign for candidates seeking national positions.

“Matula tamu megumpisa ya ing Hugpong keng kampanya da keni king Pampanga uling kanitang 2016 ing peka maragul ng landslide ng Duterte kilwal balwarte na keni king Pampanga [We are happy that the Hugpong started its campaign here in Pampanga because the biggest landslide (President) Duterte had in the 2016 elections was here in Pampanga],” Arroyo told the crowd who trooped to the capitol grounds.

Arroyo also urged Capampangans to vote straight for the HNP candidates.

Mayor Duterte was v isibly overwhelmed by the show of support by Capampangans and their leaders as she continued to exchange pleasantries with almost everyone she met.

For her part, Pineda bannered each candidates’ accomplishments as she welcomed them to Pampanga and urged Capampangans to support them.

“We are happy that they held it here in Pampanga. It is an honor for us and also a sign of respect,” Pineda said.

T he gover nor said Capampangans are now able to see the HNP candidates personally and see for themselves the advocacies they have for the benefit of the people.

During the program, a mascot of HNP candidate Christopher Law-

rence “Bong” Go was seen doing the rounds taking selfies with the crowd.

Former National Police chief Ronald M. “Bato” Dela Rosa rendered a song on stage to the delight of the crowd.

HNP candidate Rep. Pia Cayetano went to the capitol on her bicycle. A group of bikers accompanied Cayetano from the Vista Mall to the capitol.

When it was his turn to take the rostrum, Sen. Joseph Victor “JV” Ejercito was joined by his brother, Jinggoy Estrada, who raised his hand to the surprise of everyone in the crowd.

Master of ceremonies Board Member Rosve Henson immediately took notice and announced that this was the first time that the two publicly greeted each other.

But the biggest applause was accorded to former Sen. Ramon “Bong” Revilla Jr. The crowd went wild in cheers every time his name was mentioned so that by the time it was his turn to speak, everyone was jockeying for position to take a photo or selfie with him on the background.

Overwhelmed by the show of support, Rep. Lani Mercado-Revilla was emotional. “I am so thankful for the support and warmth you have extended in accepting my husband…,” she said in Filipino.

An exchange of commitment of support between HNP and Pampanga’s ruling party led by Pineda was also sealed.

Later in the afternoon, the HNP caravan kicked off at the Asean Convention Center at the Clark Freeport, where another huge crowd welcomed them.

Thirteen senatorial candidates, or one more than the 12 Senate seats up for grabs, attended the campaign: former Special Assistant to the President Go, dela Rosa, former Presidential Adviser Francis Tolentino, Sen. Juan Edgardo “Sonny” Angara, Cayetano, Sen. JV Ejercito, former Sen. Jose “Jinggoy” Estrada, Maguindanao Rep. Zajid “Dong” Mangudadatu, former journalist Jiggy Manicad, Sen. Aquilino “Koko” Pimentel III, Revilla and Sen. Cynthia Villar.

Sr. Supt. Jean Fajardo, city of San Fernando chief of police, placed the crowd estimate at 20,000 to 23,000 people.

T

HE Department of Justice (DOJ) has found no probable cause to indict Trece Martires City Mayor Melandres Desagun and two others for the murder and frustrated murder complaint filed by the Philippine National Police in connection with the killing of Vice Mayor Alex Lubigan and his driver Romulo Guillemer last July.

This was confirmed by DOJ Spokesman Markk Perete in a text message to reporters, even as a copy of the resolution is yet to be

released by the prosecutors who handled the preliminary investigation of the case.

The justice department, however, found probable cause to indict alleged gunman Ariel Paiton for two counts of murder and Maragondon, Cavite, municipal councilor Lawrence Arca as an accessory to the crime.

Aside from Desagun, also exonerated was the alleged driver of the getaway vehicle, Luis Vasquez Abad Jr. and Rhonel Bersamina, who alleg-

edly received money on Arca’s behalf.

On July 7 last year, Lubigan, 44, and his driver Guillemer, 50, were traversing Trece-Indang Road in Barangay Luciano, Trece Martires City, on board a black Toyota Hi-Lux when they were ambushed by several armed men on board a similar vehicle but without a license plate or a conduction sticker.

Desagun’s security aide Romeo Edrinal, 56, who was also on board the vehicle was injured during the attack. Joel R. San Juan

DPWH temporarily opens Kennon Road for PMA homecoming, Panagbenga events

By Lorenz S. Marasigan @lorenzmarasigan

T

HE Department of Public Works and Highways (DPWH) is temporarily opening Kennon Road for light vehicles this month for the Philippine Military Academy (PMA) Alumni Homecoming and the Panagbenga Festival.

The road will be open from February 14 to 18, and from February 22 to March 4, 2019, Public Works Secretary Mark Villar said, noting that it will be for the exclusive use of light vehicles with maximum weight of 5 tons.

This, he said, is to reduce the volume of vehicles plying Marcos Highway for the upcoming Baguio events.

“The DPWH-Cordillera Autonomous Region and other members of Kennon Road Task Force have agreed to open Kennon Road just for motorists going to Baguio.

Those leaving Baguio can then utilize Marcos Highway, Naguilian Road or the Asin-Nangalisan-San Pascual- Tubao Road,” Villar said.

Residents plying Kennon Road can be allowed provided they have submitted their license plate to be included in the list of exemption

endorsed by their respective barangay heads to Mayor Ignacio Rivera of the municipality of Tuba.

T he temporar y opening of Kennon Road during the weekends was also recommended by the Kennon Road Task Force to give enough time for the DPWH to complete the ongoing projects during weekdays.

Kennon Road has been closed to motorists for several months now, as rehab works due to typhoonrelated damage are still ongoing.

The government expects to fully open the road for traffic within the first semester of 2019.

Police, Navy intelligence group arrests ASG kidnapper in Manila

By Rene Acosta @reneacostaBM

P

OLICE intelligence operatives have arrested in Manila a member of the Abu Sayyaf Group (ASG) wanted for his involvement in the kidnapping of 15 rubber plantation workers in Basilan nearly 18 years ago.

National Capital Region Police Office (NCRPO) chief Director Guillermo Eleazar identified the suspect as Abdurahman Mataud Dayung, alias Bznar Salabudin and Abu Talha.

Dayung was nabbed by members of the Regional Special Operations Unit and Regional Intelligence Division, both of the NCRPO

and the PNP Intelligence Group, with the support of intelligence personnel from the Navy and its Naval Special Operations Group.

Eleazar said that Dayung was arrested at around 10 a.m. last Sunday at 1205 M. H. Del Pilar Street corner Padre Faura, Ermita, Manila, based on the strength of a warrant issued by a regional trial court in Basilan.

He said that the suspect was involved in the kidnapping of 15 employees of the Golden Harvest Plantation in Barangay Tairan, Lantawan, Basilan, on June 11, 2001.

The abduction was perpetrated by the group of Isnilon Hapilon, commander of the ASG in Basilan who became the emir of the Islam-

ic State in Southeast Asia but was killed in Marawi City in 2017.

Eleazar said that one of the kidnapping victims positively identified Dayung and executed an affidavit detailing the suspect’s participation in the crime.

“Further, investigation revealed that Dayung was involved in the Kidapawan Bus Terminal bombing on October 10, 2002, that resulted in the killing of seven persons and wounding of 24 other persons,” said Eleazar.

“Undoubtedly, effective coordination and operation between the AFP and the PNP will result in the apprehension of the members of Abu Sayyaf Group in the country,” he added.

shabu to PDEA

By Rea Cu

T

@ReaCuBM

HE Bureau of Customs (BOC) has turned over an estimated P90 million worth of methamphetamine hydrochloride, or shabu, seized at the Port of Ninoy Aquino International Airport (Naia) to the Philippine Drug Enforcement Agency (PDEA) on Tuesday.

In a news statement, the BOCPort of Naia reported that it has turned over a shipment misdeclared as “muffler” parts after it was found to contain 13.1 kilograms of shabu to the PDEA on Tuesday.

The shipment was reported to have come from West Covina, California, and was seized on January 23, 2019.

The examination yielded 26 packages of shabu with an estimated street value of P90 million concealed inside three mufflers. It was also revealed that the subject parcel has a declared value of $500.

The shipment arrived at the DHL Warehouse under airway bill 4223900144.

The seizure of the shipment was made in coordination with Customs Anti-Illegal Drugs Task Force, BOC-Enforcement and Security Service, Customs Intelligence and Investigation Service, BOC-X ray Inspection Project, PDEA and the Naia Inter-Agency Drug Interdiction Task Group.

Further profiling and case buildup are being undertaken by PDEA for the institution of corresponding criminal case against the consignee and his cohorts.

The BOC stressed that the recent apprehension “clearly manifests the unwavering commitment of the BOC to guard the country’s border against attempts to smuggle in dangerous drugs and other anti-social goods, in addition to its revenue-collection efforts.”

Customs Naia assured the public that its officers are proactive, diligent and committed in protecting the Philippine borders.

Earlier this month, the BOC expressed confidence that it will be able to hit its 2019 revenue-collection target of P662 billion, on the back of its implementation of its 10-point priority program.

With Recto Mercene

A4

The World

Wednesday, February 13, 2019 • Editor: Angel R. Calso

BusinessMirror

US sees Trump-Xi meeting as top-level American trade negotiators arrive in Beijing

T

HE Trump administration said the US president still wants to meet China’s Xi Jinping in an effort to end the trade war, a sign of optimism as negotiators from the world’s twobiggest economies start their latest round of talks this week.

“He wants to meet with President Xi very soon,” White House adviser Kellyanne Conway said on Monday on Fox News. “This pre s ide nt w a nt s a de a l . He wants it to be fair to Americans and American workers and American interests.”

Uncertainty whether the leaders will meet to finalize an agreement has stoked concerns that negotiations are faltering as the March 1 deadline approaches. If there’s no deal by then, President Donald J. Trump has threatened to more than double the rate of tariffs on $200 billion in Chinese imports.

Negotiators from the two countries are meeting this week in Beijing, with US officials pressing China to commit to deeper reforms to a state-driven economic model that they say hurts American companies. Mid-level officials began discussions on Monday in preparation for two days of talks starting on Thursday involving US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and

Chinese Vice Premier Liu He. Lighthizer and other officials were seen arriving at a Beijing hotel on Tuesday afternoon.

Aides to Trump say this week’s talks are important, as they need to demonstrate credible progress to both the president and financial markets. But the two sides are only just starting the work of drafting a common document and still tussling over how a deal may be enforced, which US officials have repeatedly called a crucial element.

Possible extension

A S a resu lt some a ides pr ivately acknowledge the most likely scenario is for the March 1 deadline to be extended and for tariffs on some $200 billion in Chinese imports not to be raised to 25 percent as Trump has threatened.

The question they are mulling over is how to do so while maintaining pressure on the Chinese side and the urgency that has accompanied the current discussions. For that reason some offi-

cials are keen for any extension not to be open-ended. They also are eager not to let the timing of a Trump/Xi meeting to close the deal slip much past the end of March.

Chinese would favor such an extension, and some are optimistic about it. “I think there will be positive outcomes from this round of trade talks, because the two sides have shown willingness to seek a deal,” said Wei Jianguo, a former vice commerce minister and now vice director of China Center for International Economic Exchanges in Beijing. “Even if no deal is reached in this round of talks, I don’t think tariffs will be hiked on March 1. The highest poss ibi l it y i s t h at t he US w i l l ag ree to post pone t he deadline, buying time for the two leaders to meet and sign off on the final deal.”

Maybe Mar-a-Lago

TRUMP told reporters in January that he planned to meet Xi in late February, though he backtracked on that last week and said a gathering wouldn’t take place this month. It’s still possible the leaders may get together in March at Trump’s Mar-a-Lago resort in Florida, Conway said on Monday, when asked about a report from news agency Axios to that effect. The US president has said no deal will be final until he meets with his Chinese counterpart.

“He has forged a mutually respectful relationship with President Xi,” Conway said. “They will meet again soon.”

The last round of talks in Washington late last month resulted in China importing American soybeans as it implemented promises to buy more US goods. While those purchases will provide relief to US farmers, there has been no breakthrough on the structural issues separating the two nations, such as industrial policy, government subsidies, protection of intellectual property or forced transfers of technology.

Strong motivation

FACING an economic slowdown at home, the Chinese government has a strong motivation to address American demands and put an end to the trade war. It has fast-tracked approval of a law that would ban theft of intellectual property and forced technology transfers, but the question is how much more it can compromise.

With the US now pushing a plan of prioritizing spending on artificial-intelligence research, it will be difficult to talk China out of its policies to dominate advanced technologies.

And with March 1 approaching, speculation is growing that it will be hard for negotiators to agree to the complete deal demanded

by Trump.

“The key is whether the US and China can find common ground,” according to He Weiwen, a former commerce ministry official and now a senior fellow at the Center for China and Globalization, an independent research group.

“It can’t be ruled out that the US would extend the deadline, but still, it’s too early to predict anything.” Bloomberg News

Jeff Bezos probe concludes mistress’ brother was ‘National Enquirer’ source

W

ASHINGTON—Private investigators working for Jeff Bezos have concluded that the brother of the Amazon CEO’s mistress leaked the couple’s intimate text messages to the National Enquirer, a person familiar with the matter told The Associated Press on Monday.

The person wasn’t authorized to discuss the matter publicly and spoke to AP on condition of anonymity.

The findings add to the intrigue surrounding the clash between the pro-Trump tabloid and the world’s richest man. Bezos’s investigators have suggested the Enquirer’s coverage of his affair was driven by dirty politics. Trump has been highly critical of Bezos over his ownership of The Washington Post and Amazon, and the Post’s coverage of the White House.

The brother, Michael Sanchez, is a supporter of President Donald J. Trump and an acquaintance of Trump allies Roger Stone and Carter Page. He is also the manager of his sister, Lauren Sanchez, a former TV anchor. The investigators have not said how they believe Michael Sanchez came into possession of his sister’s intimate messages.

Michael Sanchez did not immediately respond to a message seeking comment on Monday. In a January 31 tweet, he said without evidence that Bezos’s longtime security consultant, Gavin de Becker, who is leading the private investigation, “spreads fake, unhinged conservative conspiracy theories.”

An attorney for the tabloid’s parent company did not immediately respond to an e-mail seeking comment.

On Sunday, an attorney for the head of American Media, which owns the Enquirer, said that the information for the story had been provided by a “reliable source” well-known to Bezos and Lauren Sanchez. The source had provided information to the company for at least seven years, Elkan Abramowitz, an attorney for American Media Inc. Chief Executive David Pecker, said on ABC’s This Week. He was asked if Sanchez was the source and he said: “I’m not permitted to tell you or confirm or deny who the source is.”

But the Daily Beast, citing people inside American Media Inc., reported that Sanchez was the Enquirer’s source. Bloomberg News

www.businessmirror.com.ph

Venezuela’s crisis hits standstill over US emergency aid

VOLUNTEERS prepare free lunches for Venezuelan migrants at the “Divina Providencia” migrant shelter in La Parada, near Cucuta, on the border with Venezuela-Colombia on Monday, February 11, 2019. Millions of Venezuelans have migrated, and those left behind struggle to afford scarce supplies of food and medicine. The world watches now whether Nicolas Maduro’s government will let humanitarian aid from the United States cross its borders. AP PHOTO/FERNANDO VERGARA

C

UCUTA, Colombia—Nearly three weeks after the Trump administration backed an all-out effort to force out President Nicolas Maduro, the embattled socialist leader is holding strong and defying predictions of an imminent demise.

Dozens of nations have recognized opposition leader Juan Guaido’s claim to the presidency and the US has tightened sanctions aimed at cutting off billions of dollars in oil revenue. But anti-Maduro street protests have come and gone, and large-scale military defections have failed to materialize.

With the US seen as considering military action only as a last resort, Guaido is trying to regain momentum with an effort this week to move US emergency food and medicine into Venezuela despite Maduro’s pledge to block it.

Such an operation could provoke a dangerous confrontation at the border—or fizzle out and leave Maduro even stronger.

With so much at stake, Guaido is under increasing pressure to soon unseat Maduro, analysts say.

“He is running against the clock,” said Daniel Lansberg-Rodriguez, a Venezuela expert at Northwestern University’s Kellogg School of Management. “Expectations are running very high—not just among Venezuelans but international allies—that this is a crisis that can be resolved quickly.”

Despite having the world’s largest oil reserves, Venezuela is suffering soaring levels of malnutrition, disease and violence after 20 years of socialist rule launched by the late President Hugo Chavez. Critics accuse Maduro, a former bus driver and Chavez’s handpicked successor, of unfairly winning an election last year for a second six-year term by banning his popular rivals from running and jailing others.

The 35-year-old Guaido was a virtually unknown lawmaker until last month, when he took the helm of the opposition-controlled National Assembly. He has rallied masses of Venezuelans into street demonstrations that have left at least 40 dead since he declared himself interim president on January 23.

Guaido has so far avoided arrest, but the general comptroller announced on Monday it was opening an investigation into Guaido’s assets in a new escalation of the confrontation between the government and the National Assembly.

Guaido has won backing from nearly 50 countries worldwide, including the United States, which has pledged an initial $20 million in support and has already shipped emergency food and medicine to the Colombian border city of Cucuta, where it sits in a warehouse.

Maduro has refused all economic assistance, denying there is an eco-

nomic crisis in Venezuela—and contending the aid is part of a coup being orchestrated by the White House to topple him.

Maduro has made a show of overseeing military operations played on state TV almost daily. He’s jogged with troops in formation, mounted an amphibious tank and railed against what he says is an impending US invasion that he has likened to a Latin American Vietnam.

On Monday, Venezuela socialist party chief, Diosdado Cabello, spoke at a rally in Venezuela’s border city of Urena, across from Cucuta, crowding the streets with Maduro loyalists wearing the red shirts of the socialist party and waving flags.

Addressing the crowd, Cabello asserted Venezuelans tell him not to give in to pressure from the United States, saying they are willing to endure whatever they must to maintain freedom from imperialist rule. He said the US supplies were sent in a showy display aimed at justifying a coup.

“It’s not help and it’s not humanitarian,” he said to cheers from roughly 1,000 Maduro supporters, including civilians and soldiers.

Romulo Jaimes, a 62-year-old resident of Urena, said the socialist gathering wasn’t what it appeared to be. He said more than 30 buses were parked outside the event, used to haul in Cabello’s cheering crowd.

“In reality it was a flop,” he said.

“Most of the people from this city didn’t attend the rally.”

The US humanitarian aid is being stored in a warehouse across a river from the socialist rally, a situation that also puts Maduro in a tight situation, said Eric Farnsworth of the Council of the Americas and Americas Society, a Washingtonbased think tank.

“If you let it in, you’re bowing to Guaido and the international community,” he said. “If you don’t you’re seen as a tyrant.”

President Donald J. Trump has said all options are on the table regarding Maduro’s ouster, but Farnsworth called any US military deployment highly unlikely as such a move would make the US responsible for supplying food long term and rebuilding the gutted country.

US sanctions imposed on the state oil company PDVSA in late January and meant to pressure Maduro from office have yet to bite.

In the capital, Caracas, residents pulling up to gas stations can still fill up their cars, despite fears that sanctions would create shortages.

Opposition leaders have been vague about how they plan to get the aid in.

Last week, Lester Toledo, Guaido’s representative in the aid mission, suggested it could be moved by masses of people converging on the border to carry the food and medical supplies across. AP

The World BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso • Wednesday, February 13, 2019 A5

US warns Hungary to shun business with Huawei

B

UDAPEST, Hungary—The United States may be forced to scale back certain operations in Europe and elsewhere if countries continue to do business with the Chinese telecommunications company Huawei, Secretary of State Mike Pompeo said on Monday in a new warning that underscores US concerns about the firm.

In Budapest on the first leg of a five-nation European tour during which he is raising American concerns about China and Russia’s growing influence in Central Europe, Pompeo said nations would have to consider choosing between Huawei and the United States. The warning was broad but pointedly delivered in Hungary, a North Atlantic Treaty Organization ally and European Union member where Huawei is a major player.

“They are a sovereign nation,” Pompeo said of Hungary. “They get to make their own decisions. What is imperative is that we share with them the things we know about the risks that Huawei’s presence in their networks present—actual risks to their people, to the loss of privacy protections for their own people, to the risk that China will use this in a way that is not in the

best interest of Hungary.”

The US has been warning countries about the risks of Chinese telecom technology as governments choose providers for the rollout of “5G” wireless Internet, which will enable faster download speeds but also greater connectivity among devices.

Pompeo says the presence of Chinese telecom infrastructure could drive a technological wedge between the US and some allies.

“It also makes it more difficult for America to be present,” Pompeo said. “That is, if that equipment is co-located where we have important American systems, it makes it more difficult for us to partner alongside them.”

Pompeo said he had raised the concerns with Hungarian Foreign Minister Peter Szijjarto and would also do so with nationalist Prime

HUNGARIAN Minister of Foreign Affairs and Trade Peter Szijjarto (right) shakes hands with US Secretary of State Mike Pompeo in the ministry in Budapest, Hungary, on February 11, 2019. Pompeo is on an official visit to Hungary. ZSOLT SZIGETVARY/MTI VIA AP

Minister Viktor Orban, who has been criticized for seeking closer ties with Russia and China and for increasingly authoritarian rule at home.

“We want to make sure we identify [to] them the opportunities and the risks with using that equipment. And then they will get to make their decisions,” Pompeo said.

The US has repeatedly accused China of using technology to pilfer trade secrets. China recently has said that it’s “totally unreasonable” to make some of these accusations and that the US is just trying to suppress a rising competitor.

Oil rises from two-week low amid deal to avert US govt shutdown

O

IL rose from a two-week low as a tentative accord to prevent another US government shutdown reassured investors and boosted financial markets.

Crude futures rose 0.8 percent in New York, after sliding on Monday to the lowest settlement since January 28. Congressional negotiators said on Monday in Washington they had reached a deal in principle on border security to avoid closure of the federal government. US crude stockpiles are projected to rise for a fourth week, the longest such run since November, according to a Bloomberg survey before data due on Wednesday.

Crude’s rally has fizzled in February as concern the US and China

won’t be able to defuse their trade war damps the demand outlook, while a strengthening dollar has reduced the appeal of commodities priced in the currency.

Prices have shown limited response to output reductions by the Organization of the Petroleum Exporting Countries (Opec) and its allies, as well as an escalating political crisis and sanctions against Venezuela.

“The broader market sentiment, risk on and risk off, continues to influence oil prices,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. “With high Opec compliance and healthy oil demand, inventory dynamics might surprise and support prices over the coming months.”

West Texas Intermediate (WTI)

crude for March delivery rose 44 cents to $52.85 a barrel on the New York Mercantile Exchange at 9:39 a.m. in London. The contract fell 31 cents on Monday to $52.41.

Brent for April settlement added 44 cents to $61.95 a barrel on the London-based ICE Futures Europe exchange. It fell 1 percent to settle at $61.51 on Monday. The global crude benchmark traded at an $8.76 premium to WTI. Senate Appropriations Chairman Richard Shelby said lawmakers agreed on all seven spending bills needed to keep government agencies open. The news spurred gains in European and Asian stocks on Tuesday, as investors were worried another partial shutdown would be a drag on US growth. Bloomberg News

The promise of 5G wireless–speed, hype, risk

N

EW YORK—A much hyped network upgrade called “5G” means different things to different people.

To industry proponents, it’s the next huge innovation in wireless Internet. To the US government, it’s the backbone technology of a future that America will wrestle with China to control. To many average people, it’s simply a mystery.

The technology is one of the issues expected to take center stage at the MWC mobile conference in Barcelona, Spain, this month. The interest goes well beyond engineers: In Washington, there are fears that China could take the lead in developing the technology and sell equipment that could be used to spy on Americans. What, exactly, is 5G wireless—and will you even notice when it comes online?

What is 5G?

5G is a new technical standard for wireless networks—the fifth, naturally— that promises faster speeds; less lag, or “latency,” when connecting to the network; and the ability to connect many devices to the Internet without bogging it down. 5G networks will ideally be better able to handle more users, lots of sensors and heavy traffic.

Before we can all use it, wireless companies and phone makers have to upgrade.

Phones need new chips and radio antennas. The phone you have today won’t

work with a 5G network. Wireless companies have been getting ready. They’ve been revamping their network equipment, buying up chunks of radio spectrum for carrying 5G signals, and installing new 5G antennas on cell-phone towers, utility poles and streetlights. Wireless providers will invest $275 billion in 5G-related networks in the US, according to CTIA, an industry trade group.

When will it be available?

A true US mobile rollout will start in 2019.

It will take a few years to go national, and even then more rural areas of the country will not be covered in the “millimeter wave” frequencies that promise the highest data speeds and capacities, said Michael Thelander, CEO of wireless consultancy Signals Research Group.

Thelander predicts that China may lag the US by a year in its initial rollout, but will ultimately have the biggest deployment, while European countries will build out more slowly.

Beware of confusion, though. Wireless carriers have a history of rushing to slap the latest-and-greatest label on their networks, and this time is no different. AT&T has already applied the name 5G on a service that’s not really 5G. (Sprint, upset, then sued its larger rival.)

Once the network is ready, you’ll need a 5G-enabled phone to connect

to it. The first ones should be available in the first half of 2019, but a 5G iPhone isn’t expected until 2020. 5G phones will most likely be more expensive than current 4G phones. Don’t worry, even when 5G turns on, you can keep using 4G phones, just not at 5G speeds.

What can 5G do?

THERE’S a considerable amount of hype over the promise of 5G. Industry groups say it will promote smart cities by connecting sensor networks that could manage traffic and quickly identify streetlight outages.

5G could connect self-driving cars and fuel new applications in virtual and augmented reality. Its high-speed connections could enable better remote surgery and other telemedicine, help companies automate their factories and offer businesses dedicated high-speed Internet lanes.

“5G speeds, and ever-faster home broadband, will mean that existing applications will get richer, and also that new applications will emerge—new Flickrs, YouTubes or Snapchats. We don’t know what , yet,” Benedict Evans, a partner at Silicon Valley venture capital firm Andreessen Horowitz, wrote in a January blog post.

The most immediate impact on consumers will be faster download speeds for movies and other video. Thelander says your phone’s Internet will work better in crowded locations such as stadiums. AP

At a news conference with Pompeo, Szijjarto acknowledged that Huawei is present in Hungary but played down its position in the market. He also made the point repeatedly that Hungary accounts for only 1.2 percent of European Union trade with China.

“This does not endanger us from being an ally,” Szijjarto said.

Pompeo will take the same message about Huawei to his next stop, Slovakia, on Tuesday, before heading to Poland, where he will participate in a conference on the future of the Middle East expected to focus on Iran. He will wrap up the tour with brief stops in Belgium and Iceland.

Pompeo said he hoped to reverse what he called a decade of US disengagement in Central Europe that created a vacuum Russia and China have exploited. Over the course of the past 10 years, he said, Russian President Vladimir Putin and Chinese leaders have become much more aggressive in the region and made inroads.

“We must not let Putin drive wedges between friends in Nato,” he said, adding that he had also warned of “the dangers of allowing China to gain a bridgehead in Hungary. Russia and China are authoritarian powers who do not share our joint aspirations of

freedom.”

President Donald Trump’s administration has made a point of reaching out to Orban, who shares Trump’s strong stance on limiting migration and has adopted increasingly authoritarian measures, including cracking down on the opposition, labor unions, independent media and academia.

The administration of Trump’s predecessor, Barack Obama, had largely steered clear of Orban, who won a third consecutive term last year in a campaign based on antiimmigration policies and whose policies have been met with street protests and deepening concern within the EU. Pompeo put the blame for much of the backsliding on a lack of US engagement.

“I think for a long time we shunned them in a way that drove them to fill the vacuum with folks who didn’t share our values,” he said. “The Russians and the Chinese ended up getting more influence here, they do not remotely share the American ideals that we care so deeply about.”

Pompeo was given a list of concerns in a meeting with Hungarian civic leaders. Some of their groups have been targeted by legislation making their work more difficult, like a tax on funds received from abroad and the possible jail time for those convicted of aiding asylum-seekers. Three groups that took part said they believed Pompeo would bring them to Orban. AP

A6 Wednesday, February 13, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The pain of not planning ahead

‘B

AHALA na” is a popular expression in the Philippines, reflecting the propensity of Filipinos to take risks or take leaps of faith, never mind the consequences. Filipinos believe that all it takes is “lakas ng loob” or courage. Be it a new business venture or a career move, Filipinos will say bahala na. This bahala na mentality is also pervasive among our bureaucrats. And nowhere is this more evident than in the way the government is currently handling the country’s shift to an open rice market.

This shift is not something that is happening overnight; it is inevitable because this is the commitment of the Philippine government to the World Trade Organization. The quantitative restriction (QR) on rice, which has allowed Manila to limit the volume of rice that the Philippines can import, will be removed 24 years after the country joined the WTO. With the removal of the rice QR, farmers and consumers will be at the mercy of the international market.

The government should have rolled out the necessary interventions to help farmers cope with the removal of a nontariff measure that has protected them for decades. And these interventions should have been put in place right after the Philippines became a member of the WTO on January 1, 1995. But a comprehensive strategy, one that would enable rice farmers to compete with their foreign counterparts, is yet to be crafted.

The rice QR, or the import cap, would be converted into tariffs after President Duterte signs the bill mandating its removal. The bill, which was approved by the bicameral conference committee, would automatically lapse into law on February 15 if the President will not act on it.

As expected, those affected by the measure—farmers, rice millers and retailers—are up in arms against it.

The significance of the proposed Rice Tariffication Act may have been lost on many of our bureaucrats. Take for example the crafting of a road map that details strategies to assist rice farmers. It is mind-boggling, to say the least, that the road map will only be rolled out after the enactment of the rice tariff bill.

We hope the government has a good reason for not crafting the road map, and pray this is not a case of bahala na mentality.

Also, pronouncements that the government did not study the impact of the provisions of the bill, such as the exit of the National Food Authority from the domestic rice market, won’t placate stakeholders or put them at ease. (See, “No rice price spikes despite NFA power removal, says Neda,” in the BusinessMirror, February 11, 2019.) Opening up a market that sustains 2.4 million Filipino farmers and thousands of millers and retailers sans a plan in place to ease the transition will likely kill their livelihood. Rice millers had warned that the bill would even hurt banks, as the projected decline in palay output will cause them to go out of business and may eventually default on their commercial loans. (See, “Banks to feel more pain from rice tariff bill than default of Hanjin,” in the BusinessMirror, February 5, 2019).

The government had 24 years to prepare for the day when the Philippines would finally give up the rice QR. And the full impact of the removal of the nontariff measure will only be felt later. We hope the road map and the rules that will implement the proposed rice tariffication act will mitigate its adverse impact on a sector that has anchored the performance of Philippine agriculture for decades.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Ruben M. Cruz Jr. Angel R. Calso

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes 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

Teddy Locsin Jr.

FREE FIRE Continued from A1

T

HE Philippine government is committed to promote the development of all sectors of Philippine society, starting with those who are disadvantaged and vulnerable—women, children, the elderly, persons with disabilities and the youth. We committed to the 2030 Agenda for Sustainable Development, our action plan for our people and our planet, and we are serious about keeping the promise to leave no one behind. The Philippine Development Plan (2017-2022) is geared toward achieving AmBisyon Natin (Our Vision) 2040, a collective aspiration of the Filipino people to build a society where no one is poor, and where people live long, healthy lives in safe, inclusive and vibrant communities.

The adoption of social protection policies and programs is key to empowering the people and ending poverty. The National Economic and Development Authority adopted the Social Protection Operational Framework, which includes labor market interventions, social insurance, social safety nets and social welfare as its components. And considering our country’s vulnerability to the effects of climate change, it is imperative that our social protection programs also include strategies to mitigate risks caused by climate change and natural disasters.

Consistent with the goal to achieve inclusive growth and prosperity, the government continues to improve and innovate policies and mechanisms to address the needs of the work force. As of October 2018,

the country’s employment rate is at 94.9 percent, with a labor-force participation rate of 60.6 percent.

The Two-tiered Wage System defines the policy space for minimum wage-setting and the strategy for promoting productivity and gainsharing. The first tier is an approach that sets the minimum wage above the poverty threshold to help workers and their families meet basic needs; but not to exceed average wage so as not to crowd out the space for bipartite approaches in setting better terms and conditions of employment. The second tier is a strategy to encourage the workers and enterprises to voluntarily and jointly adopt productivity incentive schemes to improve business performance and yield higher gains, which workers and management fairly and equitably share. It is

a strategy to increasingly tighten the link between pay and productivity, the latter being a more sustainable source of higher real income for workers, in addition to the mandatory minimum wage. Wage-setting in the Philippines is done at the regional levels and area-wide consultations and briefings are conducted by the Department of Labor and Employment. For domestic workers, minimum wages, as well as social insurance coverage, is mandated by law.

Social insurance coverage for all workers, including those working overseas, is continually being pursued. The Social Security Services implements innovative programs so that even workers in the informal sector would be covered. As of October 2018, 107,260 workers in the informal sector have social insurance coverage.

To diminish the negative impact of job losses, the Department of Labor and Employment provides transitional emergency employment through the Emergency Employment Program. This is a community-based assistance package that provides emergency employment for displaced workers for a minimum of 10 days and a maximum of 30 days, depending on the nature of the work.

This program is accessible by those who were self-employed but have lost their source of income due to natural or man-made disasters.

The Philippines partnered with the government of Canada and the Asian Development Bank to launch Jobstart Philippines, an employmentfacilitation program that seeks to assist young people in starting their careers and finding meaningful paid employment. Jobstart Philippines is a full-cycle employment facilitation

Corrupt people salivating on STL

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

Online Editor Social Media Editor

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

The fundamentally caring character of states

Florante S. Solmerin

FACT IS MIGHT!

M

ANY people are eyeing the position of retired Marine Maj. Gen. Alexander “Mandirigma” Balutan, who is the current general manager of Philippine Charity Sweepstakes Office (PCSO), because the billions and billions of pesos being generated from the Small Town Lottery (STL) make them salivate no end. Some people are even dropping the name of President Rodrigo Duterte and bragging about their Malacañang connection just to spread rumors that they will soon get Mandirigma’s position.

Corrupt people are spreading the ugly rumors, which only mean two things: They are betraying Mandirigma, or they fear losing their respective positions in PCSO because they will soon lose big. A fair warning to these people: In time, you will find your place in a hot seat!

In 2018, STL generated sales of P26.1 billion, a big contribution to PCSO’s total earnings of P63.55 billion for the year. Comprising a big chunk of PCSO revenues are earnings from the most patronized number games—the Lotto and Digit Games with a 14-percent increase at P31.9

billion, followed by STL that made an exceptional 66-percent increase from 2017’s P15.7 billion. Instant Sweepstakes posted P1.1 billion revenue, while Traditional Sweepstakes generated P4,867,500.

Looking back, since the President appointed Mandirigma in September 2016—because the President needs a “killer” (a leader with willpower and integrity) in PCSO to end the corruption inside the agency—STL earnings continued to grow.

Until 2016, STL was only limited to 18 players. That’s why Mandirigma launched the Expanded-STL in 2017, which continued to add more STL players until it reached 88. Every province now has STL players where jueteng, masiao and swertres-like games are now being played.

While there are still people operating illegal numbers games like jueteng, Mandirigma continues to encourage them to migrate to the legal STL so they can help the President in his all-out war against all forms of illegal gambling.

service, which includes registration and client assessment, life skills training with one-on-one career guidance, job matching, technical training and referrals of beneficiaries for internship or wage employment in an establishment.

With the third-youngest population in the Asia Pacific, the Philippines recognizes the urgency to leverage the demographic dividend. Through the National Youth Commission, the Philippine government implements the Philippine Youth Development Plan (PYDP) 2017–2022. Under this plan, the youth are guaranteed participation in the areas of health, education, economic empowerment, social inclusion and equality, governance, active citizenship, peace-building and security, the environment and global mobility. This Youth Development Plan is anchored on the Sustainable Development Goals and the Asean Youth Goals. To guarantee the youth access to education, Congress legislated in 2016 the Universal Access to Quality Tertiary Education Act, which removed all tuition fees from public colleges and universities and from state-run technical vocational institutions.

To reduce the challenges of youth unemployment, the government passed the youth entrepreneurship law to encourage the entrepreneurial spirit of young people. Education and specialized trainings in the field of finance and management are provided to the youth to equip them to start or grow their businesses. Mentoring and coaching programs are set up with eligible entities to facilitate sharing of technical knowledge and technology or skills transfer.

Grants and loans are also provided See “Locsin,” A7

The public should support Mandirigma’s move to clean up the agency of corrupt people. That’s how everybody can help raise funds for the government’s charity programs.

There may be still a few people doing illegal numbers games, but I know Mandirigma won’t allow or tolerate them. Let us all watch how the agency utilizes its funds, especially in the information/dissemination aspect. For everyone’s information, PCSO does not get funds from the General Appropriations Act. Its funds solely come from the agency’s revenues. The total revenues of PCSO is divided thus: 55 percent goes to the prize fund, 15 percent goes to operating funds and 30 percent goes to the charity fund.

For every P24 lotto ticket that you buy, P6 automatically goes to the charity fund for the hospitalization, chemo/dialysis, surgery and other assistance needed by the indigents and less fortunate Filipinos.

E-mail: fetad@yahoo.com

www.businessmirror.com.ph

Opinion

A candidate’s life

Jumbo risks

BusinessMirror

Dennis B. Funa

Susan V. Ople

SCRIBBLES

INSURANCE FORUM

E were all candidates at one point in our lives. Courtship is an intense, romantic campaign to win another person’s heart. School is an endless series of candidacies—culminating in an onstage ceremony to receive a diploma as a seal of approval.

Remember your first job interview? You were a nervous wreck, just like most candidates are these days. The difference is that there will always be a next job interview, but for an elective position, a candidate’s political fortune is decided in a single day by millions of potential employers.

UMBO risk is an insurance policy with very high limits of insurance, either a large property line or a high limit of liability.

For life insurance in the United States, for example, a jumbo insurance policy would typically have a face value of $1 million to $150 million, taken out by high net-worth individuals. These jumbo risks usually exceed the limits that insurers retain or have set for a life insurance risk.

W

Campaigning for political office, whether national or local, is not for the weak-kneed, onion-skinned variety of mortals.

I remember being verbally whacked by a more aggressive political rival (hey, Atty. Lorna P. Kapunan, I miss you!) during one of the senatorial debates in 2016. It happens to the best of candidates.

I think the topic then was about divorce, for which I was against, and the feisty Lorna was very much in favor of. Her quick wit obliterated my tame, if not rather timid answer.

The next morning, the sun was up, I had to shake off the blues from a less than ideal debate performance.

Because when you are a candidate, you always, always show up.

I ran as a senatorial candidate in 2010 under the Villar-Legarda presidential ticket, and once again in 2016, with five presidential bets adopting me as their senatorial candidate. Both instances I lost though the second try yielded much better results in terms of awareness and actual votes. Despite such losses, I would never ever trade these two runs for any other life experience.

Running as a candidate is a journey into one’s self, a daily SWOT analysis of personal capability. I thought myself to be an extrovert but I wasn’t really because like a turtle, I felt safer within my shell. I couldn’t for the life of me prance, dance or fake any stance on stage. I knew I would make a good senator but I had to win first.

Winning comes with a hefty price tag and near-unlimited political ability.

My entire senatorial campaign in 2016 may have cost much less than a monthly political PR and advertising budget of the wealthiest candidates.

Having been twice a national candidate, I am familiar with the monumental challenges associated with waging a credible campaign.

Let us look kindly upon those brave enough to throw their proverbial hats in the ring. American President Theodore Roosevelt said it best: “It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done them better.

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devo-

Locsin. . .

continued from A6

to the youth in order to achieve the objectives of this law. Young people may also access to negosyo centers established in every town by the GoNegosyo Act. These centers are information and service-oriented hubs that can assist youth entrepreneurs in business conceptualization, feasibility studies, marketing and human resources concerns.

As it cares for its young people, so does the State care for its elderly, persons with disabilities and the poor. To ensure the development and realization of human rights of these vulnerable sectors, the government implements various programs, including conditional cash transfer programs aimed at achieving the development goals of eradicating

tions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”

I salute those who decided to file their certificates of candidacy because they felt compelled to contribute to our great nation. Where would our democracy be without these warriors? For those who filed their certificates knowing that an uphill battle is likely the biggest understatement of the year, I offer a sincere apology. Life is never fair, and most voters find it inconvenient to get to know the unknowns, unless fit to be skewered and scorned via social media. The viral nature of memes makes for a bullying extravaganza, with trolls out to earn a dirty living by wrecking reputations.

Down the road, we will have new senators, congressional leaders, local officials and party-list representatives fulfilling destiny’s call. Let’s hope that they stay humble, competent and honest. The problem lies when we, as voters, take the money and forsake our values, preferring to sell our votes and souls to the most generous, crafty devil. We become intellectual pygmies when we decide to vote for the popular because the more authentic candidates won’t win anyway. Ever since the birth of automated elections, we grapple with the need to ensure that every vote is counted as cast, not as products bought and paid for, allegedly digitally delivered by electoral thieves.

Dear reader, please give political neophytes and the less prominent but deserving candidates a fighting chance. Listen to candidates, regardless of political party or whether they are out for reelection, no matter how dry the prose, or soft the voice. They now face the most difficult battles of their lives. Respect each and every one of them though some may be cringe-worthy and tolerable only in small doses. While these candidates are in the arena, respect is the least that we can give them not just as politicians, but also as human beings with families and friends rooting for their victory.

Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the Inter-Agency Council Against Trafficking.

hunger, achieving universal primary education, reducing child mortality and improving maternal health care.

The Pantawid Pamilyang Pilipino Program (4Ps) is the Philippines’s biggest social protection program for the needy that operates in 41,620 villages and 1,627 cities and municipalities nationwide. Beneficiaries of this program are provided access to economic opportunities and equipped with necessary skills to compete in the production and labor markets and ultimately improve their lives.

Madam Chairman, our people share in the collective hope that we all will achieve the Sustainable Development Goals. The Philippines is committed to this end and determined to work with the UN and with other member-states to find solutions to the challenges that keep us from realizing our hope.

Thank you.

J

For property insurance, the occurrence of a jumbo risk, needless to say, could present “damages of unprecedented magnitude” and be a catastrophic loss. An accident involving a commercial airplane or a cruise ship could result to hundreds of fatalities, as well as millions in property loss. In some cases, a jumbo insurance policy is underwritten by more than one insurance company since the insurers would be hesitant to take on such huge risks.

When insurers accept jumbo risks, the insurer must cede significantly to reinsurers. Under CL 2014-42, in order to “protect the company against unusual number of claims as a result of jumbo policies issued, the company may avail itself of the catastrophe or stop loss cover abroad.” A jumbo risk can also be referred to as a major risk.

On the other hand, as a measure to control risks taken on, insurers have started adopting jumbo limits.

Wednesday, February 13, 2019 A7

A jumbo limit is defined as “a limit placed on the amount of coverage that may be in force and applied on an individual life for automatic reinsurance purposes. If such insurance exceeds the limit, the risk must be submitted for facultative review.”

This jumbo limit is provided for in reinsurance agreements “to manage retention by limiting automatic binding authority.”

Under Circular Letter dated November 20, 1981, as amended by CL 22-2007, jumbo risk refers to risks where the annual premium on any one policy exceeds P500,000. Jumbo risks may pertain to marine hull insurance, fire, engineering, industrial risks, among others. Under CL 22-2007, “premiums may be paid in four quarterly equal installments, provided that the first installment shall include all taxes due and other charges. In case of default in any installment due, all remaining unpaid installments shall be treated as non-admitted asset.” Moreover, under Circular Letter dated November 11, 1982, “direct business is required to be transacted on ‘cashand-carry’ basis under Section 77

of the Insurance Code, except in cases of Jumbo risks where a different mode of premium payment is allowed under our Circular Letter of November 20, 1981.”

Jumbo risks are taken on by high liquidity and net-worth insurers.

Interestingly, Warren Buffett spoke of jumbo risks in a 2001 letter to his stockholders in speaking for National Indemnity, a subsidiary of Berkshire Hathaway: “Indeed, we have a major competitive advantage because of our tolerance for huge losses. Berkshire has massive liquid resources, substantial noninsurance earnings, a favorable tax position and a knowledgeable shareholder constituency willing to accept volatility in earnings. This unique combination enables us to assume risks that far exceed the appetite of even our largest competitors. Over time, insuring these jumbo risks should be profitable, though periodically they will bring on a terrible year.”

Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016.

E-mail: dennisfuna@yahoo.com.

Bezos selfie leak triggers an alarm for billionaires

By Devon Pendleton & Anders Melin Bloomberg Opinion

E

VEN the world’s richest person couldn’t stop a nude selfie leak.

When Jeff Bezos alleged in a blog post on Thursday that he was the victim of blackmail attempts by the publisher of the National Enquirer, he underscored risks particular to billionaires in the digital age.

“The perception among very affluent people is often ‘I have this level of wealth, I’m untouchable,’” said Mark Johnson, chief executive officer of Sovereign Intelligence, a McLean, Virginia-based risk analytics firm. “But the systems they have in place for protecting their personal identifiable information are very weak.”

Ask any family office about its biggest fears and cyber security is near the top. Personal protection no longer involves just bodyguards and a top-notch alarm system. The Internet age has seen a massive shift in people storing their most sensitive and personal data online, where it’s vulnerable to hacking and intrusion.

‘Absolute disconnect’

ULTRA-WEALTHY individuals are particularly susceptible because so much of their data are often centralized through family offices, which typically lack the robust firewalls and encryption capabilities of banks and large corporations.

Johnson, a former case officer with the Naval Criminal Investigative Service, said he’s worked with clients with more than $40 billion

in assets who had a “Secret Servicetype physical security—probably even better—and yet, there was an absolute disconnect between that physical security and the digital protection.”

It’s unclear how the tabloid obtained Bezos’s texts. The Amazon. com Inc. founder, who has a net worth of $133.9 billion, said in his blog post that he’d authorized security chief Gavin de Becker “to proceed with whatever budget he needed” to get to the bottom of the leak.

Security experts say potential entry points for a digital invasion are numerous.

‘Legacy risks’

“WE all have devices we carry and they each have their own point of vulnerability,” said Kris Coleman, founder of intelligence-services firm Red Five Security.

Banking information, identity data, even health information and travel schedules can expose someone to a breach. Those in billionaires’ inner circles are a particular risk for the information they have access to and could share, either maliciously or inadvertently.

Banking information, identity data, even health information and travel schedules can expose someone to a breach. Those in billionaires’ inner circles are a particular risk for the information they have access to and could share, either maliciously or inadvertently.

“Private, affluent families need to consider themselves targets that are on par with nation states,” Coleman said.

Coleman and Johnson are both members of RANE, a network of riskmanagement professionals from banks, law firms, family offices and corporation.

The wealthy aren’t just at risk of losing money through hacks. Their brands, reputations—or, in family office parlance, “legacy”—also can be damaged. On Tuesday, news web site Splinter published a trove of racist e-mails sent and received by TD Ameritrade Holding Corp. Founder Joe Ricketts that included anti-Muslim slurs and conspiracy theories.

Ricketts, whose family owns the Chicago Cubs, issued a statement on his personal web site, apologizing for remarks “that don’t reflect my value system.”

Protecting Zuckerberg

PROVIDING security services to the growing ranks of the superrich is an expanding field. Federal agents and military personnel, including

former Navy Seals, Secret Service and Mossad agents, SWAT team operators and Scotland Yard detectives, have found second careers protecting billionaires, where they can earn double what they did working for the government.

Facebook Inc. spent $7.3 million in 2017 on personal security for CEO Mark Zuckerberg, an expense the company defended as necessary considering his “position and importance.” Last year the firm said it would give him an additional $10 million annually to beef up his security. Its executive protection program is run by an ex-Secret Service agent, according to her LinkedIn profile.

Amazon spent $1.6 million last year on security for Bezos, according to regulatory filings. His Bezos Family Foundation also has taken physical precautions. For example, the foundation’s mailing address is a post office box in a nondescript strip mall in the Seattle area.

De Becker, a best-selling author, made his name as a security consultant to Hollywood celebrities and cocreated MOSAIC, an assessment tool that was originally used to analyze threats against Supreme Court justices and members of Congress. He describes himself on the firm’s web site as “the nation’s leading expert on the protection of public figures.”

Red Five’s Coleman didn’t express shock that Bezos’s racy text messages were vulnerable.

“My message to affluent families: don’t assume you’re OK,” Coleman said. “Because most of them aren’t.”

Turkey may have to face its protesters in US court

By Eli Lake

Bloomberg Opinion

T

HE government of Turkey is facing a choice. Will it defend itself in court against a civil lawsuit that alleges Turkey’s president ordered his bodyguards to beat protesters nearly two years ago on a state visit to Washington? Or will it continue to ignore the case? A decision is due this week.

Until now, Ankara has chosen the latter course. President Recep Tayyip Erdogan has mocked the Washington metropolitan police, claiming they failed to protect him during his May 2017 visit, giving his security no choice but to engage. And for months, the Turkish government refused to accept the notice of civil litigation on behalf of the five plaintiffs, whose claims include assault and battery, emotional distress and violation of an anti-terrorism law.

T he gover nment’s options changed in December, when a US consular official at the embassy in Ankara served the Turkish ministry of foreign affairs with a notice, sum-

mons and complaint of the lawsuit.

This began a 60-day countdown that ends on Saturday. If Turkey continues to ignore the litigation, the litigation will move forward without its representation.

The importance of the lawsuit goes beyond the claims of the plaintiffs. To start, Turkey is a Nato ally, but it is now being sued under the same statute that victims of Iranian and Libyan terrorism have used to win judgments against those governments. Specifically, the lawsuit is predicated on two exemptions in the Foreign Sovereign Immunities Act that allow US citizens to sue foreign governments for acts of terror and personal injury.

On the surface, the melee outside the Turkish ambassador’s Washington residence on May 17, 2017 may not seem like terrorism. Lawyers for the victims, however, beg to differ.

“As a society, we were all damaged when a leader of a foreign country ordered his guards to attack Americans while they were demonstrating their views in a country that prides itself as a light unto the world,” said

It’s unclear at this point how Turkey will respond. Akaras says the government has asked for an extension to reply to the summons delivered in December.

This could be a sign that Turkey is preparing to defend in court actions that most Americans would view as indefensible.

Douglas Bregman, one of their attorneys.

His point is that the decision to order the guards to attack the protesters was an act of political violence. Another lawyer for the plaintiffs, Andreas Akaras, said the order was meant to curb the right to free expression. Erdogan was sending a message to Kurds and other protesters in Turkey, said Akaras: “I can waste you.”

Admittedly this is very different than airline hijackings and suicide bombings. But it is violence nonetheless. It also shows the arrogance of Erdogan, who apparently believed that

he could treat protesters in America the same way he has treated them in his own country. Under Erdogan’s rule, Turkey is moving from ally to adversary. Is it any wonder that Turkey has also helped Venezuela’s government evade US sanctions on its gold?

Last March, citing a lack of evidence, the Justice Department quietly dropped criminal charges on 11 of the 14 Turkish nationals charged for assault in the 2017 incident. The Turkish government interpreted this decision as vindication. But the standard of proof is less stringent in a civil case, and the civil lawsuit shows that Turkey’s actions are not beyond the reach of US law—and is now the only avenue to provide some justice for the protesters beaten nearly two years ago.

It’s unclear at this point how Turkey will respond. Akaras says the government has asked for an extension to reply to the summons delivered in December. This could be a sign that Turkey is preparing to defend in court actions that most Americans would view as indefensible.

2nd Front Page BusinessMirror

A8 Wednesday, February 13, 2019

Greening budget cut by half; forest-expansion plan halted ₧2.6B

T

By Jonathan L. Mayuga

@jonlmayuga

HE Department of Environment and Natural Resources (DENR) will focus on a “care and maintenance” mode this year, halting any plan to expand the country’s forest cover under the Enhanced-National Greening Program (E-NGP), the budget of which was slashed by half.

Director Monito M. Tamayo of the DENR’s Forest Management Bureau (FMB) said this year’s budget is just down to P2.6 billion, from the P5.2-billion E-NGP budget approved last year.

Tamayo said the FMB had submitted a budget proposal of P5.1 billion for the implementation of the E-NGP for 2019. “Unfortunately, Congress approved only P2.6 billion for this year,” he said.

This means that any forest-expansion activity from now on would have to be funded or financed by various development partners of the DENR, he said.

Speaking in a mix of English

and Filipino, he said the P2.6billion E-NGP budget for this year would be spent for maintaining the 1.9 million hectares of forest established under the NGP since 2011.

“What we will do is ensure a high survival rate to maintain the 1.9 million hectares of forest we established under the NGP since 2011. Based on our studies, there are some NGP areas with a survival rate of as low as 52 percent,” he told the BusinessMirror in an interview.

Tamayo said by focusing on a care and maintenance mode of these NGP areas, they hope to

This year’s budget for the National Greening Program, just half of the P5.2-billion E-NGP budget approved last year

achieve at least an 80-percent survival rate or higher.

“Because of the budget cut, we may have to stop any forest-expansion activity and concentrate on forest protection and conservation programs,” he said.

LGU, private-sector support

TAMAYO said the DENR would have to rely on the support of various local government units (LGUs) and the private sector to finance or fund reforestation activities.

According to Tamayo, the DENRFMB is also eyeing the establishment of more industrial tree plantations to expand the country’s forest cover through various forestmanagement deals.

The establishment of industrial tree plantations will also help reduce the country’s dependence on

imported wood, he said.

Under Executive Order 193 signed by then-President Benigno S. Aquino III on November 12, 2015, the coverage of the NGP was expanded to cover all remaining unproductive, denuded and degraded forestland pegged at 7.1 million hectares, and the period of implementation was extended from 2016 to 2028.

“All sectors, particularly the private sector, are encouraged to actively participate in the Expanded National Greening Program,” the order stated.

Despite the huge budget cut, Tamayo remains unfazed, confident that the DENR will receive financial support from various financing institutions that will boost the country’s reforestation program.

Tamayo also said it is about time that LGUs and their private-sector partners do their part in rehabilitating the country’s forest, with the DENR’s budget for E-NGP having been cut down drastically by Congress.

“In the next few weeks, we will hold a meeting to come up with a new plan on how to cope with our available budget,” he said.

DOT targets 45% hike in Israeli tourists in ’19

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Department of Tourism (DOT) made a sentimental push in selling the Philippines to the Israeli tourism

market on Sunday, with Tourism Secretar y Bernadette Romulo Puyat making a personal appeal to the country’s tourism officials and stakeholders.

In her remarks to guests at the Philippines Reception in Hilton Tel Aviv ahead of the International

NORTHEAST MONSOON AFFECTING THE WHOLE COUNTRY as of 4:00 pm - February 12, 2019

Mediterranean Tourism Market 2019 (IMTM), Romulo Puyat underscored the role her grandfather, Carlos P. Romulo, played in Israel’s history.

“It is a privilege to be part of a tourism milestone in Israel, and a joy to witness the fruits of one of

my grandfather’s legacies. In 1947, former President of the United Nations General Assembly Carlos P. Romulo represented the Philippines as the only Asian country to vote for Resolution 181—the UNGA resolution that created the State of Israel,” she said.

“And now, 72 years after, I stand in front of you representing the country on behalf of the Philippine Department of Tourism in the 25th year of the largest tourism fair in the Mediterranean region,” she observed, highlighting how the work of her grandfather has come full circle with her visit.

An opportunity market

ROMULO PUYAT noted that last year, 20,343 tourists from Israel arrived in the Philippines, more than double the 8,000 who visited during an initial “people-to-people tourism exchange” in 2014. The annual double-digit increases in arrivals make Israel “the fastestgrowing opportunity market of the Philippines,” she said, emphasizing this was achieved even without direct air connectivity between both countries.

Pioneering flag carrier Philippine Airlines is currently working on getting direct flights between Manila and Tel Aviv, a result of President Duterte’s official visit to Israel in 2018, although air talks between both countries began in 2013. PAL President Jaime J. Bautista told the BusinessMirror they “hope” to have the route in place this year. At present, however, they are still negotiating with Saudi Arabia to allow their planes to fly over their airspace to service the route.

“It [flights to Tel Aviv] will be six months after we get the overfly permit from KSA [Kingdom of Saudi Arabia],” said the PAL official.

Under its National Tourism Development Plan for 2016-2022, the DOT is targeting 29,455 tourists from Israel this year, nearly 45 percent higher than last year’s arrivals.

The target doesn’t include the possibility of direct flights between Manila and Tel Aviv.

See “DOT,” A2

www.businessmirror.com.ph

3 THINGS DUTERTE CAN DO TO CURB OIL PRICE SPIKES–A SOLON’S LIST

A

LAWMAKER on Tuesday urged President Duterte to implement “three ‘must’ measures”to prevent oil price hikes.

Bayan Muna Rep. Carlos Isagani Zarate made a statement after President Duterte said that he can do nothing about oil price hikes even if irate citizens hang him.

Zarate said President Duterte, in fact, can do something, and pitched these three measures— the regulation of the downstream oil industry, the centralized procurement of oil and the government buyback of Petron—to address oil price increases.

“It appears now that the Congress leaderships are afraid of the big oil companies because they are not prioritizing oil price slashing legislative measures,” he added.

Bayan Muna filed House Bill 1760 to renationalize Petron; House Bill 3676 to regulate the downstream oil industry; and House Bill 3678 to centralize the procurement of oil in the country.

The group is calling on the House leadership to fast-track these bills to shield Filipinos from escalating oil price hikes.

“Up to 95 percent of the country’s petroleum requirements are imported, rendering the country exceedingly vulnerable to the dictates of big transnational corporations. The worst implication of this is our severe dependence on such

Exports. . .

Continued from A1

to $37.56 billion, from $36.53 billion in 2017.

However, Semiconductor and Electronics Industries in the Philippines Foundation Inc. President Danilo C. Lachica offered a different view. Semiconductor exports, he said, slowed down because investors did not expand operations and opted to hold on to their capital, as they await the government’s final policy on corporate tax and incentives.

He explained the virtual trade war has little to no impact on export figures, and pointed out demand for semiconductors is always at a high.

“The US-China trade war has minimal impact on our industry, which is driven by global demand.

Biggest concern are uncertainties due to [the] rationalization [of tax incentives],” Lachica told the BusinessMirror.

Lachica earlier said the Philippines lost over $1 billion in investments due to the government’s move to restructure the menu of incentives provided to firms locating in economic zones.

The government is pushing for the passage of the Tax Reform for Attracting Better and High-Quality Opportunities bill, or the Trabaho bill. It will lower corporate income tax to 20 percent in 2029 from 30

Poll magic. . .

Continued from A1

the previous year and a slower growth from the projected 4.1-percent consumption growth for 2019.

The economist argued that capital formation—which are essentially investments—won’t be seeing a jump for this election year due largely to two major constraints: interest rates and budget delays.

Rate hikes THE Bangko Sentral ng Pilipinas (BSP) in 2018 let out a series of aggressive rate hikes to curb inflationary pressures in the country. This mandate led to a total hike of 175 basis points in its overnight reverse repurchase rate to 4.75 percent.

corporations, which control not only the importation, refining and retailing of crude and petroleum products from abroad but also control the exploration, exploitation, refining, retailing and even reexportation of our country’s indigenous petroleum and petroleum-based products,” Zarate said.

“These deprives us the opportunity to be self-sufficient and earn from the development of our own oil industry,” added Zarate.

As for the centralized procurement of oil, the lawmaker said the Big Three, or the local subsidiaries of Shell, Caltex and Petron, claim that they do not overprice, that they set prices based on the price increases of Dubai oil exchanged over the spot market and on pesodollar exchange rate fluctuations.

“Moreover, they continue to still deny the already obvious existence of a cartel, alleging they merely follow the movements of world oil prices. This misleading claim, though, is belied by the fact that they are minimally affected by prices in world markets and even as they are able to trade in the same currency between subsidiaries,” he said.

According to the lawmaker, the renationalization of Petron Corp. will ensure public welfare through fair and regulated prices by serving as a counterpoint to predatory pricing by other oil companies.

Jovee Marie N. dela Cruz

percent on one hand, and will rationalize incentives on the other.

Lachica warned that if the Trabaho bill is approved, it could lead to not only poorer export performance and investment losses, but also to an exodus from the Philippines of existing investors.

“Worst case is departure of companies for countries with [a] more conducive investment climate, like Vietnam, Thailand, Malaysia and Indonesia. I don’t see this happening this year, but this may happen in subsequent years,” he warned.

On the other hand, Lopez said sugar imports must be freed up to improve export receipts of processed food.

Processed food and beverage exports declined 14.6 percent last year, PSA data reported, to $738.06 million from $864.36 million in 2017. This slowdown could have been prevented only if imported sugar—a main input in processed food and relatively cheaper than local produce—was allowed to enter freely the Philippine market.

“Processed food exports are still affected by high cost and supply issues in sugar inputs. Sugar cost in the country must therefore be competitive to improve our capabilities to export more processed food,” the trade chief said.

Overall, Philippine exports in 2018 fell 1.8 percent to $67.48 billion from $68.71 billion in 2017.

This, according to Mapa, discourages investments and lending to corporations. He forecasts overall bank lending to continue to decelerate for the year.

He said the delay in the approval of the 2019 budget will also cut into the growth of capital formation in the country, as public construction will likely suffer with an unapproved budget. In the last quarter of 2018, public construction accounted for 23.1 percent of the total construction investments.

Mapa said the delay will further aggravate its effect on capital formation in the country should the 2019 budget remain unapproved and overlap with the election spending ban. The election spending ban—which prohibits the disbursement of funds for public works a few months beofre the election—will start on March 29.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, February 13, 2019

B1

Globe allots ₧63B for 2019 capex

G

By Lorenz S. Marasigan

@lorenzmarasigan

LOBE Telecom Inc. is increasing its capital-expenditure program by almost half this year, as it further beefs up its mobile and fixed-line networks due to the “exponential” increase in demand for more bandwidth to better serve its millions of customers in 2019.

Ernest L. Cu, the company’s president, said his group is spending P63 billion for 2019, a 45-percent jump from P43 billion last year to further expand the capacity and capability of its networks.

“It’s a trend in the industry. We’re both seeing an increased demand from consumers with respect to data demand and data consumption.

Video consumption has now become mainstream—the number of people who watch videos and consume entertainment right out of their phones and tablets is increasing and is increasing exponentially,” he said in a press briefing on Tuesday.

This, Cu said, is reflected on the group’s annual mobile-data volume, which grew by 59 percent to 956 pet-

abytes from only 600 petabytes the year prior.

“For us, it’s a matter of supplying capacity out there to sustain the momentum we’ve built in the fourth quarter,” he said.

Cu noted his group will be putting prime importance in the development of its networks on three fronts: mobile, fixed line and corporate.

Rizza D. Maniego-Eala, the company’s CFO, said her group will be ready to partially fund the capital expenditures for the first half of 2019, but may study different fund-raising options to bankroll the balance for the remainder of the year.

“We will fund our capital expenditures through our operating cash and additional debt in 2019,” she said. “It will be a combination of the strength of our operating cash flow in the third and fourth quarters of 2018 together with loans we set up in 2018 that we’ve fully drawn in to be able to take advantage of the better rates last year.”

She noted that the group is now reviewing the best instrument for fund-raising, where the group can “maximize the cheaper alternatives versus the more expensive ones.”

Eala cited bilateral loans and dollar loans as examples. She added the group has an approved P40-billion retail bond issuance that it can utilize, but the final decision on the fund-raising means will be made by the second quarter of 2019.

Globe saw its profits increasing by 22 percent to P18.44 billion in 2018 from P15.08 billion the year prior, after revenues increased by 10 percent to P140.23 billion, while its total operating expenses reached P105.8 billion.

Its core net income — which strips off one-time gains and losses — also stood at P18.55 billion in 2018.

Shares of Globe dipped 1.21 percent to close at P1,956 apiece on Tuesday.

Philex pays PXP ₧1.386B for its common shares

P

HILEX Mining Corp. paid PXP Energy Corp. P1.386 billion, representing the first tranche of the P3-billion subscription of the latter’s common shares.

“Philex Mining Corp. paid the amount of P1,386,450,000 in relation to its subscription payable to PXP Energy Corp.,” it said in a disclosure on Tuesday.

PXP likewise told the exchange it received the payment of Philex Mining. PXP is an upstream oil and gas company, which owns oil and gas exploration and production assets located in the Philippines, and indirectly owns an exploration asset located in offshore Peru.

PXP Energy directly and indirectly owns 77.5 percent of Forum Energy

SEC secures ISO certification for management systems

PEDC among power companies with fewest violations T

P

ANAY Energy Development Corp. (PEDC), a subsidiary of Global Business Power (GBP), was cited by the Philippine Electricity Market Corp. as among the 10 power-generating companies with the least number of marketrule breaches.

The PEDC has a combined gross capacity of 314 megawatts and operates 11 power-generation facilities in Cebu, Iloilo, Aklan and Mindoro. It also has a 50-percent stake in Mindanao-based Alsons

Thermal Energy Corp. Pursuant to Wholesale Electricity Spot Market (WESM) rules, each scheduled generator is required primarily to comply with the must-offer rule and real-time dispatch deviation.

Any violation of the rules, meanwhile, would result into a breach, which could mean penalty fees.

“Through continuous compliance with WESM regulations, GBP helps encourage competition in the market, as well as promote the effective operation of transmission networks,” GBP President

Jaime T. Azurin said. Meanwhile, GBP Commercial and Strategy Head Philip Dasalla, who received the award on behalf of the company, highlighted the need for market participants to continuously adhere to WESM rules and regulations.

“Following WESM rules ensures that efficiency gains are maximized, as price signals pressure businesses to reduce costs, align process and use their assets more effectively,” he said.

Since 2018, PEMC has served as a governance

Megaworld plans to further expand ‘lifestyle malls’ in 2019

P

ROPERTY giant Megaworld is expanding its commercial retail portfolio this year, with the opening of around 11 commercial properties across its townships all over the country.

By the end of the year, the company will open new retail spaces in Iloilo Business Park in Mandurriao, Iloilo City; Alabang West along Daang Hari in Las Piñas City; McKinley Hill and Uptown Bonifacio, both in Taguig City; Arcovia City in Pasig City; Boracay Newcoast in Boracay Island, Aklan; and Davao Park District in Lanang, Davao City.

These new commercial properties cover around 54,000 square meters (sq m) in gross floor area.

“The biggest chunk of the new re-

LITTLE CAESARS PIZZA affordable prices.

ROY DOMINGO

tail spaces will be in Uptown Bonifacio, as we embark on an expansion of our new retail row in front of Uptown Mall and Uptown Parade. We are also launching a new retail development inside Arcovia City, our newest and must-visit township along C-5 in Pasig fronting Valle Verde. Down south, there is something exciting coming up in Alabang West, which is part of our Beverly Hills-themed commercial row,” said Kevin L. Tan, chief strategy officer of Megaworld.

During the second half last year, Megaworld opened its first full-scale lifestyle mall in Iloilo Business Park, the P2.2-billion Festive Walk Mall, offering around 90,000 sq m of retail spaces. It also opened three new community malls in Alabang and

Makati, namely The Village Square in Alabang, Muntinlupa City; Three Central in Valero Street, Salcedo Village, Makati City; and San Lorenzo Place in Edsa corner Chino Roces Avenue, Makati City. These three new commercial centers offer around 26,500 sq m in retail spaces.

“Every mall that we build has curated spaces that evoke the character of the township where it is located.

We want to create commercial properties that are not just for shopping and dining, but those that help drive tourism,” Tan said.

By year-end, Megaworld’s commercial retail footprint will reach around 771,000 sq m, with presence all over Metro Manila, Luzon, the Visayas and Mindanao.

A Little Caesars Pizza parlor along United Nations Avenue in Manila serves assorted pizza flavors at

body under the regulatory oversight of the Department of Energy and the Energy Regulatory Commission, tasked with monitoring compliance by market participants.

Meanwhile, WESM operation was turned over to the Independent Electricity Market Operator of the Philippines Inc. in line with the thrust of the Electric Power Industry Reform Act for the market to be run by an independent market operator. Lenie Lectura

Ltd., a London-listed company whose main asset is a controlling interest in offshore exploration Service Contract (SC) 72 west of Palawan island in the disputed West Philippine Sea. In October last year, Philex and PXP signed a subscription agreement at P11.85 per share or a total of P3.081 billion. A down payment of P770.25 million was made in December last year.

The transaction will raise Philex Mining’s stake in PXP from 19.76 percent to 25.91 percent after the issuance of the shares.

PXP will use the proceeds to fund its exploration activities and other oil assets within the Philippines and in Peru, and to repay its cash advances from Philex. Lenie Lectura

HE Securities and Exchange Commission (SEC) on Tuesday said it secured an ISO 9001:2015 certification for the international standard of its quality management system (QMS).

The SEC’s QMS currently covers the registration of partnerships and corporations doing business in the Philippines, and licensing of capital-market institutions and professionals.

SEC Chairman Emilio B. Aquino, together with other commissioners, received the ISO 9001:2015 certification from TÜV Rheinland Philippines Inc. during the awarding ceremony held late last month.

Aquino said he plans to implement extensive

reforms in the services of the SEC. “My pursuit now is to innovate and upgrade the commission’s services. This ISO 9001:2015 certification is, but the beginning of our reform journey toward a greater and bolder SEC as the gateway to Philippine business,” Aquino said.

SEC Commissioner Ephyro Luis B. Amatong expressed the SEC management’s commitment to improve its QMS. “Our attainment of ISO 9001:2015 Certification for our QMS demonstrates our firm commitment to sustain and further enhance the quality of our services and of our capabilities as the regulator of the corporate sector and the capital market,” he said. VG Cabuag

B2

Companies BusinessMirror

Wednesday, February 13, 2019

PSE STOCK QUOTATIONS

February 12, 2019

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

ASIA UNITED 59 59.4 58.15 59 58.15 59 24410 1431684.5 BDO UNIBANK 137 139 137.8 139 136 139 1550210 213795059 BANK PH ISLANDS 89.6 90 90.65 91.5 89.6 89.6 1821150 164226391.5 CHINABANK 27.9 28 28 28 27.75 28 37200 1037085 EAST WEST BANK 13.14 13.16 13.5 13.5 13.12 13.16 674500 8950006 METROBANK 82 82.35 82.1 82.55 81.8 82.35 1676360 137876314 PB BANK 14 14.18 13.84 14 13.84 14 2600 36176 PHIL NATL BANK 48.9 49 49 49.2 48.05 49 719100 35222005 PSBANK 59 59.5 58.9 59.8 58 59.5 2460 145601 PHILTRUST 112 122 122 122 122 122 20 2440 RCBC 26.05 26.15 26.35 26.35 26 26.15 134900 3527665 SECURITY BANK 176 176.4 180.6 180.6 176 176.4 169840 30167502 UNION BANK 63.5 63.95 64 64 63.5 63.5 9750 621021 BRIGHT KINDLE 1.43 1.48 1.45 1.55 1.43 1.48 352000 512460 BDO LEASING 2.26 2.29 2.26 2.32 2.25 2.32 89000 201030 COL FINANCIAL 17.02 17.18 17.04 17.18 17.02 17.18 1700 28994 FERRONOUX HLDG 4.59 4.6 4.69 4.7 4.58 4.6 478000 2211060 FILIPINO FUND 7.68 8.39 7.67 7.67 7.67 7.67 300 2301 IREMIT 1.49 1.67 1.41 1.68 1.41 1.67 168000 266970 MEDCO HLDG 0.48 0.495 0.49 0.5 0.485 0.5 830000 405200 NTL REINSURANCE 1.29 1.31 1.22 1.32 1.22 1.31 6340000 8206530 PHIL STOCK EXCH 186 186.1 186.3 186.8 186 186 1120 208449 SUN LIFE 1790 1799 1792 1792 1780 1780 350 625575 VANTAGE 1.14 1.18 1.18 1.18 1.18 1.18 200000 236000

INDUSTRIAL ALSONS CONS 1.4 1.41 1.39 1.41 1.39 1.4 1205000 1687020 ABOITIZ POWER 37 37.8 37.65 38 37 37 985400 36711635 BASIC ENERGY 0.246 0.25 0.255 0.255 0.246 0.25 1300000 324100 FIRST GEN 21.2 21.25 21.25 21.4 21.05 21.25 2396500 50973740 FIRST PHIL HLDG 72.95 73.2 73 73.9 72.95 73.2 29760 2182595.5 MERALCO 360.4 361.8 360 364.4 360 360.4 347690 125631116 MANILA WATER 27.1 27.25 27.35 27.4 27 27.1 1440600 39059365 PETRON 6.78 6.8 6.8 6.95 6.75 6.78 21096700 143414640 PETROENERGY 3.7 3.72 3.7 3.7 3.7 3.7 44000 162800 PHINMA ENERGY 1.3 1.31 1.33 1.34 1.29 1.3 25662000 33549350 PHX PETROLEUM 11.02 11.3 11.3 11.3 11.02 11.3 129900 1461932 PILIPINAS SHELL 46.7 47.4 47.05 47.1 46.5 46.7 738100 34527580 SPC POWER 6.32 6.37 6.35 6.37 6.32 6.36 97300 618283 VIVANT 16.02 16.98 17 19 16 16.98 21000 362714 AGRINURTURE 16.22 16.48 16.5 16.5 16.32 16.48 286100 4708106 BOGO MEDELLIN 86.35 97 96.45 97 96.2 97 1280 123691.5 CNTRL AZUCARERA 16.5 17.14 16.8 17 16.5 16.5 6800 113550 CENTURY FOOD 16.2 16.4 16.5 16.52 16.1 16.2 462700 7521776 DEL MONTE 6.7 6.85 6.86 6.9 6.85 6.85 4700 32313 DNL INDUS 11.64 11.66 11.72 11.76 11.62 11.66 1611400 18829984 EMPERADOR 7.63 7.65 7.66 7.66 7.52 7.63 1637700 12493717 SMC FOODANDBEV 92 92.6 95.5 95.5 91.55 92.6 253620 23455568.5 ALLIANCE SELECT 1.08 1.09 1.13 1.14 1.08 1.08 7231000 7935500 GINEBRA 26.5 26.95 26.9 27.1 26.5 26.95 319000 8569030 JOLLIBEE 312 314.4 318 318 312 312 475100 149242974 MACAY HLDG 14.68 14.78 16.4 16.4 14.5 14.78 412300 6265594 MAXS GROUP 12.84 12.88 12.74 12.92 12.4 12.88 1428000 18162964 MG HLDG 0.232 0.234 0.25 0.25 0.221 0.234 14690000 3378090 PEPSI COLA 1.42 1.43 1.46 1.52 1.4 1.42 12046000 17573280 SHAKEYS PIZZA 12.7 12.8 13 13 12.7 12.7 644600 8279572 ROXAS AND CO 2.13 2.17 2.13 2.18 2.1 2.17 377000 810470 RFM CORP 4.72 4.79 4.71 4.71 4.71 4.71 1000 4710 SWIFT FOODS 0.135 0.138 0.135 0.138 0.135 0.138 1180000 159790 UNIV ROBINA 141.3 142 146.6 146.6 141.3 141.3 706990 101280668 VITARICH 1.76 1.77 1.78 1.79 1.76 1.76 1888000 3349870 VICTORIAS 2.56 2.63 2.6 2.65 2.56 2.56 24000 61850 CONCRETE A 64 69.6 65.05 65.05 64 64 1400 90408.5 CONCRETE B 72 81.95 74 74 70.05 72 1710 123694.5 CEMEX HLDG 2.48 2.49 2.43 2.49 2.42 2.49 14902000 36770470 DAVINCI CAPITAL 6.09 6.3 6.1 6.1 6.08 6.08 7200 43916 EAGLE CEMENT 15.9 16 15.8 15.9 15.8 15.9 108200 1713538 EEI CORP 8.42 8.45 8.45 8.51 8.4 8.45 3258700 27544545 HOLCIM 9.53 9.58 9.58 9.58 9.2 9.53 2244300 21095011 MEGAWIDE 18.28 18.3 18.4 18.88 18.24 18.3 5903300 110763294 PHINMA 8.92 9.38 9.38 9.38 8.86 9.36 25500 236391 TKC METALS 1.53 - 1.02 1.53 1 1.53 33813000 47094030 VULCAN INDL 1.38 1.4 1.4 1.4 1.38 1.4 1722000 2386940 CHEMPHIL 126.5 130 131 131 126.1 130 1060 137275 CROWN ASIA 1.85 1.86 1.93 2.12 1.84 1.85 5137000 10186540 EUROMED 1.66 1.82 1.66 1.66 1.66 1.66 3000 4980 LMG CHEMICALS 4.34 4.52 4.34 4.34 4.34 4.34 1000 4340 MABUHAY VINYL 3.32 3.4 3.24 3.7 3.24 3.4 389000 1328150 PRYCE CORP 6.01 6.1 6 6.01 6 6.01 20000 120100 CONCEPCION 40 42 42 42.5 41.5 42 239300 9975600 GREENERGY 3.2 3.21 3.16 3.23 3.06 3.21 19914000 62527050 INTEGRATED MICR 12.8 12.84 12.6 13 12.58 12.8 1012300 12922536 IONICS 1.78 1.79 1.89 1.89 1.75 1.78 1201000 2167320 PANASONIC 5.9 6.18 6.18 6.18 6.18 6.18 600 3708 SFA SEMICON 1.4 1.42 1.42 1.44 1.39 1.42 248000 349100 CIRTEK HLDG 29.3 29.9 29.8 30 29.35 29.9 120500 3588455

HOLDING & FRIMS ABACORE CAPITAL 0.8 0.81 0.82 0.82 0.79 0.81 26851000 21510650 ASIABEST GROUP 26.7 26.9 24.65 27.2 24.6 26.9 31043000 777825585 AYALA CORP 928.5 932 934 940.5 927.5 932 152120 142049635 ABOITIZ EQUITY 62.65 63.95 64 64.3 62.65 63.95 794620 50306091.5 ALLIANCE GLOBAL 14.28 14.3 14 14.32 13.98 14.3 9980900 141587416 ANSCOR 6.5 6.55 6.5 6.5 6.4 6.4 24600 159440 ANGLO PHIL HLDG 0.8 0.84 0.8 0.85 0.8 0.84 84000 70260 ATN HLDG A 1.45 1.46 1.45 1.51 1.44 1.45 23357000 34447900 ATN HLDG B 1.45 1.47 1.45 1.5 1.45 1.47 3325000 4872800 COSCO CAPITAL 7.45 7.5 7.53 7.53 7.3 7.5 988400 7349191 DMCI HLDG 12.12 12.32 12.26 12.38 12.04 12.12 4302300 52241538 FILINVEST DEV 12.7 12.76 12.98 12.98 12.7 12.76 375300 4833844 FORUM PACIFIC 0.229 0.239 0.233 0.233 0.228 0.229 630000 144990 GT CAPITAL 1058 1070 1076 1081 1052 1070 104235 111577820 HOUSE OF INV 6.08 6.1 6.14 6.15 6.1 6.1 45300 277901 JG SUMMIT 65.8 65.9 65.7 66.15 65.1 65.8 1030730 67746988 JOLLIVILLE HLDG 5.55 5.72 5.55 5.55 5.55 5.55 500 2775 KEPPEL HLDG A 4.96 5.39 5.4 5.4 4.9 5.4 8500 45400 LODESTAR 0.61 0.63 0.65 0.65 0.6 0.62 1496000 923700 LOPEZ HLDG 5.27 5.3 5.36 5.38 5.25 5.3 283200 1503586 LT GROUP 15.48 15.5 15.82 15.86 15.48 15.5 2383500 37183382 MABUHAY HLDG 0.58 0.59 0.58 0.58 0.58 0.58 218000 126440 METRO PAC INV 4.87 4.88 4.95 4.96 4.88 4.88 21843000 107350110 PACIFICA 0.039 0.04 0.04 0.04 0.039 0.039 12500000 490300 PRIME ORION 2.79 2.8 2.8 2.85 2.75 2.8 639000 1792490 PRIME MEDIA 1.18 1.19 1.16 1.18 1.15 1.18 63000 72860 SOLID GROUP 1.37 1.39 1.42 1.42 1.39 1.39 29000 40910 SYNERGY GRID 450.2 489 499.6 499.6 490 490 150 73884 SM INVESTMENTS 986 993.5 1004 1005 985 986 218175 216020302.5 SAN MIGUEL CORP 162 163 164 164 161.5 163 400840 65026883 SOC RESOURCES 0.86 0.9 0.77 1 0.77 0.9 7061000 6360400 TOP FRONTIER 273.6 280 275 280 273.2 280 3760 1046928 WELLEX INDUS 0.255 0.26 0.26 0.265 0.255 0.26 2570000 664950 ZEUS HLDG 0.355 0.365 0.35 0.38 0.335 0.365 66820000 24183350

PROPERTY ARTHALAND CORP 0.91 0.92 0.93 0.94 0.9 0.92 1596000 1465770 ANCHOR LAND 10.62 10.7 11 11 10.7 10.7 9400 100700 AYALA LAND 44.75 44.8 44.9 45 44.45 44.8 6157600 275705680 ARANETA PROP 1.8 1.83 1.8 1.84 1.8 1.84 87000 156720 BELLE CORP 2.54 2.55 2.51 2.58 2.5 2.55 283000 719380 A BROWN 0.78 0.8 0.79 0.8 0.78 0.8 3302000 2601380 CITYLAND DEVT 0.92 0.93 0.9 0.95 0.89 0.93 820000 757770 CROWN EQUITIES 0.25 0.255 0.25 0.255 0.25 0.25 2560000 648950 CEBU HLDG 6.2 6.42 6.42 6.42 6.1 6.4 51700 329312 CEB LANDMASTERS 4.03 4.18 4.19 4.2 4.1 4.18 432000 1797820 CENTURY PROP 0.5 0.51 0.53 0.55 0.49 0.51 91001000 47807105 CYBER BAY 0.41 0.415 0.405 0.415 0.405 0.41 410000 168550 DOUBLEDRAGON 22 22.05 23.05 23.25 22 22.05 1384400 30876095 DM WENCESLAO 10.16 10.2 10.2 10.48 10.18 10.2 1216300 12514628 EMPIRE EAST 0.51 0.52 0.5 0.52 0.5 0.52 128000 66250 EVER GOTESCO 0.132 0.14 0.136 0.14 0.136 0.14 100000 13760 FILINVEST LAND 1.54 1.55 1.57 1.59 1.53 1.54 25475000 39471880 GLOBAL ESTATE 1.24 1.25 1.27 1.27 1.23 1.25 180000 224430 8990 HLDG 11.1 11.18 11 11.28 10.8 11.1 2375300 26449260 PHIL INFRADEV 2.22 2.23 2.33 2.33 2.2 2.22 8485000 19012450 CITY AND LAND 0.83 0.89 0.86 0.9 0.82 0.89 97000 82510 MEGAWORLD 5.18 5.2 5.21 5.25 5.16 5.2 5593900 29157712 MRC ALLIED 0.425 0.43 0.43 0.44 0.425 0.425 19940000 8557300 PHIL ESTATES 0.45 0.455 0.455 0.455 0.445 0.455 480000 216900 PRIMEX CORP 3.1 3.15 3.19 3.24 3.08 3.1 722000 2278630 ROBINSONS LAND 22.85 22.9 23 23 22.2 22.9 1901000 43528080 PHIL REALTY 0.49 0.495 0.465 0.51 0.46 0.49 8360000 4109250 ROCKWELL 2.07 2.12 2.02 2.17 2 2.11 1043000 2166880 SHANG PROP 3.13 3.15 3.15 3.15 3.15 3.15 143000 450450 STA LUCIA LAND 1.38 1.39 1.4 1.43 1.38 1.39 497000 700720 SM PRIME HLDG 38.55 38.9 39.15 39.4 38.4 38.9 5288000 205112180 STARMALLS 6.25 6.34 6.31 6.36 6.25 6.25 605000 3812645 SUNTRUST HOME 0.71 0.74 0.72 0.72 0.7 0.7 46000 32700 PTFC REDEV CORP 40.05 49.15 49 49.15 49 49.15 300 14730 VISTA LAND 6.2 6.28 6.43 6.47 6.17 6.28 13020100 81617614

SERVICES ABS CBN 23 23.2 23.85 23.85 23 23.2 275100 6408880 GMA NETWORK 5.76 5.8 5.76 5.8 5.76 5.8 131100 756934 MANILA BULLETIN 0.81 - 0.6 0.81 0.57 0.81 100590000 74912410 GLOBE TELECOM 1956 1989 1983 2014 1956 1956 38725 76432570 PLDT 1214 1215 1216 1227 1215 1215 54175 65880360 APOLLO GLOBAL 0.04 0.041 0.041 0.043 0.039 0.041 53500000 2147000 DFNN INC 7.3 7.55 7.6 7.6 7.55 7.55 8100 61364 IMPERIAL 1.95 2.07 1.97 2.21 1.94 1.96 219000 444770 ISLAND INFO 0.131 0.134 0.136 0.136 0.131 0.131 3620000 484520 ISM COMM 6.12 6.13 6.38 6.4 6.1 6.12 14061400 87052300 JACKSTONES 3.19 3.32 3.2 3.35 3.2 3.35 35000 114310 NOW CORP 3.15 3.18 3.25 3.25 3.15 3.16 2355000 7470380 TRANSPACIFIC BR 0.45 0.455 0.45 0.455 0.445 0.45 11880000 5362400 PHILWEB 3.45 3.46 3.15 3.45 3.14 3.45 6402000 21268620 2GO GROUP 13.18 13.2 13.34 13.34 13.16 13.18 52000 689806 ASIAN TERMINALS 15 15.4 15 15.76 15 15.5 1200 18506 CEBU AIR 86.75 87.5 86.1 88 86 86.75 94520 8208502 CHELSEA 6.51 6.52 6.56 6.63 6.49 6.52 680800 4444611 INTL CONTAINER 116.9 117.4 121.5 122 116.9 116.9 8364920 993159960 LBC EXPRESS 15.6 15.98 16 17.5 15.02 15.5 100400 1645150 LORENZO SHIPPNG 0.93 0.95 0.82 1.02 0.82 0.93 5196000 4928830 MACROASIA 18.8 18.9 19.04 19.78 18.78 18.8 3205000 61091904 METROALLIANCE A 2.14 2.19 2.07 2.25 2.07 2.19 986000 2139660 PAL HLDG 12.76 12.78 13.36 13.36 12.74 12.78 160700 2070180 HARBOR STAR 2.76 2.77 2.85 2.85 2.73 2.77 2296000 6380550 ACESITE HOTEL 1.31 1.33 1.31 1.31 1.31 1.31 162000 212220 BOULEVARD HLDG 0.067 0.068 0.065 0.069 0.065 0.067 78200000 5271900 WATERFRONT 0.74 0.76 0.77 0.77 0.74 0.76 3045000 2294940 CENTRO ESCOLAR 7.7 8.39 8.39 8.39 8.39 8.39 100 839 FAR EASTERN U 891 939 900 920 900 920 6380 5769600 IPEOPLE 10.96 11.16 10.86 11.28 10.84 10.94 11300 123148 STI HLDG 0.77 0.78 0.78 0.78 0.76 0.77 5219000 4032520 BERJAYA 3.08 3.1 3.07 3.13 3.07 3.1 316000 978890 BLOOMBERRY 11.94 11.96 12 12.06 11.82 11.96 24624400 294941142 PACIFIC ONLINE 9.27 9.52 9.32 9.32 9.3 9.3 11800 109761 LEISURE AND RES 3.34 3.37 3.37 3.45 3.35 3.35 997000 3374010 MANILA JOCKEY 4.74 4.84 4.82 4.82 4.82 4.82 4000 19280 PH RESORTS GRP 6.28 6.3 6.29 6.32 6.24 6.3 136300 858692 PREMIUM LEISURE 1 1.01 1.01 1.03 1 1.01 15877000 16129960 TRAVELLERS 5.6 5.68 5.57 5.64 5.5 5.6 2321400 12975066 METRO RETAIL 2.74 2.76 2.85 2.85 2.73 2.76 1548000 4263160 PUREGOLD 47.5 47.8 47.9 47.9 46.95 47.5 840400 39872440 ROBINSONS RTL 85.2 85.5 86 86.55 85.2 85.5 278790 23873485.5 PHIL SEVEN CORP 130.1 133.5 133 133.1 132.8 133 353780 47052706 SSI GROUP 2.34 2.37 2.41 2.45 2.33 2.34 7933000 18753340 WILCON DEPOT 14.84 14.88 14.66 15 14.66 14.88 10638700 158546078 APC GROUP 0.47 0.475 0.475 0.475 0.465 0.475 2890000 1357650 EASYCALL 15.1 15.12 15.4 15.5 15.08 15.12 224000 3396634 GOLDEN BRIA 351 354 350.2 359 350.2 351 1350 476182 IPM HLDG 7.15 7.2 7.22 7.22 7.2 7.2 200 1442 PAXYS 3.32 3.35 3.36 3.36 3.32 3.32 21000 69980 PRMIERE HORIZON 1.4 1.42 1.51 1.51 1.39 1.4 74441000 107796610 SBS PHIL CORP 8.78 8.98 8.54 9.03 8.35 9 705300 6250763

MINING & OIL ATOK 13.5 13.92 13.48 13.96 13.48 13.96 7600 102556 APEX MINING 1.53 1.54 1.56 1.56 1.53 1.54 2262000 3512450 ABRA MINING 0.0022 0.0023 0.0023 0.0023 0.0022 0.0023 649000000 1432800 ATLAS MINING 2.95 2.99 3.02 3.02 2.95 2.95 258000 764230 BENGUET A 1.34 1.4 1.4 1.4 1.34 1.4 23000 31300 COAL ASIA HLDG 0.345 0.36 0.31 0.37 0.31 0.36 22050000 7701750 CENTURY PEAK 2.1 2.15 2.1 2.11 2.1 2.1 374000 786580 DIZON MINES 8.07 8.09 8.43 8.43 7.4 8.09 148700 1159427 FERRONICKEL 1.47 1.49 1.48 1.49 1.47 1.49 1432000 2114640 GEOGRACE 0.315 0.32 0.32 0.32 0.31 0.32 6200000 1949850 LEPANTO A 0.129 0.13 0.13 0.13 0.128 0.129 4690000 605000 LEPANTO B 0.13 0.136 0.13 0.134 0.13 0.134 610000 80140 MANILA MINING A 0.0083 0.0087 0.0083 0.0083 0.0083 0.0083 5000000 41500 MANILA MINING B 0.0086 0.009 0.0083 0.0091 0.0083 0.0086 39000000 338600 MARCVENTURES 1.1 1.12 1.16 1.16 1.08 1.12 564000 614250 NIHAO 1.1 1.12 1.14 1.14 1.1 1.12 250000 276420 NICKEL ASIA 2.63 2.64 2.68 2.68 2.59 2.64 5915000 15587890 OMICO CORP 0.83 0.85 0.8 1.06 0.8 0.83 77603000 69262270 ORNTL PENINSULA 1.06 1.08 1.03 1.15 1.02 1.06 6972000 7531290 PX MINING 4.15 4.2 4.3 4.31 4.12 4.2 7371000 31015390 SEMIRARA MINING 23.25 23.35 23.55 23.8 23.1 23.3 1314700 30633500 UNITED PARAGON 0.0081 0.0086 0.0084 0.0087 0.0084 0.0086 27000000 230300 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 3700000 47100 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 701400000 8416800 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 10000000 124700 PHINMA PETRO 3.44 3.63 3.5 3.69 3.44 3.62 55000 195660 PXP ENERGY 14.16 14.22 14.04 14.58 14.04 14.16 1394800 19983998

PREFFERED HOUSE PREF A AC PREF B1 AC PREF B2 DD PREF SMC FB PREF 2 FPH PREF C GTCAP PREF B LR PREF PNX PREF 3A PNX PREF 3B PCOR PREF 2B SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H

96.05 459 480 98 991 430.2 900 0.99 102 103 1000 75.4 76.3 73.05 73.2 75.2 73 72.5

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

21.05 1.95

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.57 XURPAS 2.02

118.8

596000 -438920 34804980 -7899112.5 44702866 159440 1459640 -1650911 -7042590 -26950 -4984225 18755429 -170910 579181 -19346040 -22862450 75600 3627055 -4583334 73700 38250 1380200 -46200 79590750 10000 190726 85900 877915 1036 -14374640 12400 1401600 -507340 6560 10335174 -339650 -45000 -473700 15059220 96000 -102499.9999 179550 85200 20418745 425395 -40504140 -13497745 9154385 40500 39500 -21712149 -244300 -331950 -29890 54116 -2483140.5 -1076570 348384046 3706348 30440 -134000 -118280 -34040 -90443846 -268000 448870 -2948205 1946600 -10640575 -7788867 481417 -1549740 68377568 -2154 -16610 2481780 -173300 -777000 528000 355400 457320 -33800 -635550 -55100 -46470 -1468350 -21910760 -1893214

96.5 475 498 98.4 992 423.2 900 1.01 100.9 106.5 1000 75.5 76.3 73 73.5 75 73 73

96.5 475 498 98.4 993.5 430 900 1.01 102.1 106.5 1040 75.5 76.3 73 73.5 75.2 73 73

96.05 475 480 98.4 991 423 900 0.99 100.9 106.5 1000 75.5 76.3 73 73.5 75 73 72.5

96.05 475 480 98.4 993.5 430 900 0.99 102 106.5 1040 75.5 76.3 73 73.5 75.2 73 72.5

7400 50 4020 1400 13000 400 4250 986000 5900 80 170 670 10000 3000 7180 17000 151200 19500

710815 23750 1935130 137760 12883060 170144 3825000 976780 600650 8520 176000 50585 763000 219000 527730 1277152 11037600 1414433

-182495 9640 -

21.15

20.7

22

20.7

21.05

184000

3855035

-378840

1.99

1.94

2.02

1.93

1.95

125000

245030

-

4.59 2.03

4.6 2.31

4.6 2.32

4.5 1.95

4.58 2.03

264000 84325000

1204770 176327870

18320 -10756580

EXHANGE TRADE FUNDS FIRST METRO ETF

-203000 -10983045 17859080 134454.5 -51585782 -104555 -23010823 93930 -25038645 -195704 343862 355024 -1372 -3057392 9248100 -5240471.5 -32489.9998 -34663048 -7510 900366 -55680 -426040 -112202 -17020025 -234870 -12707910 1204178 -3602953 738405 3293240.0005 18700 114980 -76600 -49500 -17000 -60000 4300 2574310 1371194 5560 -547465

96.5 475 498 98.4 994 478.8 919.5 1.01 102.4 106.5 1040 75.5 76.6 73.9 73.5 76.9 73.95 73

WARRANTS LR WARRANT

882167 27224271 -6202101.5 -41950 850898 17075098 15517400 376980 1907007 -289126.5 23856 19600 -615750 -277525 -

119

120

121

118.8

119

23490

2813005

142375

Editor: Efleda P. Campos

PHL eyed as top import market for Thai air-conditioned products

By Roderick L. Abad

O

Contributor

@rodrik_28

N the back of massive infrastructure developments now happening across the Philippines, a trade official from Thailand said on Tuesday that this country will remain a significant market in Southeast Asia for the air-conditioning industry.

Chanthapat Panjamanond, head of Industrial Product Division, Office of Agricultural and Industrial Trade Promotion, Department of International Trade Promotion (DITP), Ministry of Commerce of Thailand, said they see constant demand growth here for aircon products amidst the heightened construction activities under the “Build, Build, Build” projects of the Duterte administration and the current property boom on a national scale.

He particularly expects this to transpire in the upcoming Bangkok Refrigeration, Heating, Ventilation, and Airconditioning 2019 (Bangkok RHVAC 2019) and Bangkok Electric and Electronics 2019 (Bangkok

E&E 2019) events to be held backto-back, from September 25 to 28, at Bitec Bangna in the capital city of Thailand.

“In 2017, 45 Filipinos [either buyers and traders] went to the show.

So I expect the number to double [this year], to maybe 80,” Panjamanond told reporters during their media briefing held at the Dusit Thani Hotel in Makati City.

The trade officer also projected the potential deals exhibitors will close with them will also redound to Thailand’s improved export volume of cooling systems to the Philippines.

From last year’s statistics on the Top 20 Thai products sold here, airconditioning machines and parts

Phinma to manage college schools in Indonesia

By VG Cabuag @villygc

P

HINMA Education Holdings Inc., a wholly owned subsidiary of listed firm Phinma Corp., on Tuesday said it signed a joint-venture agreement with Indonesia’s Tripersada Global Manajemen to manage tertiary institutions in the world’s most populous Muslim country.

Phinma said it w il l invest $5.3 million (P278 million), the equivalent of a 66-percent stake in PT Ind Phil Management, the unit that will operate tertiary institutions for Yayasan Triputra Persada Horizon Education, with the first school to be located in West Java, Indonesia.

“This investment represents Phinma Education’s entry into Indonesia as part of its regional strategy.

Indonesia, with a population of over 260 million, provides the company with a new market to serve and a new

source of income,” the company said.

“This entry into the Southeast Asian market will strengthen Phinma Education’s position in the education industry,” it added.

Chito Salazar, Phinma Education president, earlier said the company is on the lookout for acquisition opportunities in Vietnam, as well as Indonesia, as the company expands its education business in Southeast Asia.

“We think there’s great opportunity—a fast-growing economy suitable for our particular competency.

We want to do Vietnam because we think it will be easier,” he added.

Phinma has put up a technical training school in Myanmar that offers short courses for nursing assistants. The company wants to increase its student population to 900 from last year’s 180 and is also starting to offer other short courses such as English, information technology and business competency.

Saudi firms pledge to invest in Bangsamoro provinces

A

BUSINESS delegation from Cotabato City and the Bangsamoro provinces that visited Saudi Arabia from January 29 to 31 successfully obtained the pledge of companies from that country to invest in halal-related products.

First District of Maguindanao Rep. Bai Sandra Sema, one of the main proponents of the recently passed Bangsamoro Organic Law, was part of the delegation that went to Saudi Arabia and obtained investment pledges from Saudi businessmen.

The delegation, composed of Filipino government officials and businessmen headed by House Speaker Gloria Macapagal-Arroyo, went to Saudi Arabia to present investment possibilities for Middle Eastern businessmen in the newly created Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“Now that the Bangsamoro Organic Law has been passed, it is time to work for the economic prosperity of the newly created

BARMM,” Sema said. “This investment mission was done as the next important step to ensure that new investments will come in for Cotabato City and the rest of the unified BARMM and realize the promise of the BOL.” The delegation was received by the Majlis Ash Shura, the Consultative Assembly and advisory council of the Kingdom of Saudi Arabia (KSA), led by its President, Dr. Abdullah Bin Mohammed Bin Ibrahim Al Sheik.

The first day of the mission saw Arroyo leading the Philippine delegation in a visit to Riyadh to meet with members of the the Majlis Ash Shura and the Saudi Arabian General Investment Authority, the foreign investment license provider for the Kingdom.

On the second day of the mission, the group went to Jeddah to meet with the Jeddah Chamber of Commerce and Industry, the oldest business and services organizations in KSA with a membership of 120,000 businessmen.

increased by 26 percent from 2017.

This, in turn, catapulted the Philippines to rank 15th in terms of Thai export markets for aircon, with an export sales value of $130.5 million.

“We expect the same growth rate for this year because of a lot of construction activities here,” Panjamanond said. Since both Asean neighbors are tropical—climate-wise—aircon products from Thailand are also suitable to the Filipino market.

“The consistent increase in export means that more Philippine importers are satisfied with air-conditioning products from Thailand,” DITP Commercial Counsellor Khankhanit Amphuprapa said.

Thailand is currently the secondtop air-conditioning manufacturer in the world. In fact, in 2018, it has the highest export value of over $5 billion, next only to China, and produced almost 100 percent of important parts without relying on importing products.

“Our world-standard air-conditioning factories manufacture household and industrial products for both local and international brands. Thailand is the hub of airconditioning supply chain with various products to offer, including copper wires, compressors, PCBs, thermostats and motors, among

MUTUAL FUNDS

many other products,” said Athit Thienlikhit, representative of Airconditioning and Refrigeration Club, The Federation of Thai Industries.

Both the Bangkok RHVAC 2019 and Bangkok E&E 2019 will gather 400 exhibitors from across the globe to showcase their products and services at over 1,000 booths within the 23,000-square-meter venue.

The combined fairs are anticipated to attract over 14,000 traders and visitors globally, including the Philippines.

“We are now ready to offer you with innovative products. This is because of the government policy called ‘Thailand 4.0.’ So expect that all air-conditioners from Thailand are more environment-friendly and energy efficient,” Panjamanond said of the reasons for Filipino importers’ participation in the four-day event.

“Apart from this is the connectivity between our two countries.

Because we are both members of the Asean Economic Community, it is now convenient and easy to deliver goods and give after-sales service, not to mention that there’s a lower transportation cost between us. What’s more, we are [one of the leading] exporting countries [worldwide]. So we have a linkage to the global market,” he said.

February 12, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 269.34 -6.53% 4.43% 3.73% 6.78% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5839 -2.4% 14.52% 4.95% 9.93% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1867 -8.07% 6.27% 2.24% 7.27% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9555 -3.28% N.A. N.A. 7.3% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8804 N.A. N.A. N.A. 7.27% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.6144 -5.17% 4.28% 3.14% 6.51% MBG EQUITY INVESTMENT FUND, INC. -A 122.17 4.63% N.A. N.A. 4.9% ONE WEALTHY NATION FUND, INC. -A 0.8936 -8.14% -2.92% N.A. 7.35% PAMI EQUITY INDEX FUND, INC. -A 52.9463 -5.1% 5.67% N.A. 7.6% PHILAM STRATEGIC GROWTH FUND, INC. -A 551.33 -5.36% 4.24% 3.07% 7.11% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3307 -3.77% 5.73% 6.42% 6.12% PHILEQUITY FUND, INC. -A 39.1747 -3.97% 6.74% 5.61% 6.94% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0512 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.349 -4.94% 6.58% 5.63% 7.87% PHILIPPINE STOCK INDEX FUND CORP. -A 893.56 -4.73% 6.41% 5.67% 7.85% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9141 -4.94% 3.79% N.A. 6.14% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3488 -4.46% 6.27% 4.23% 7.14% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0285 -5.1% 6.31% N.A. 7.78% UNITED FUND, INC. -A 3.7422 -1.81% 7.77% 4.87% 6.89% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 119.4874 -4.42% 7.57% 6.78% 7.89% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.987 -7.54% 8.42% 1.59% 6.23% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2058 -3.91% N.A. N.A. 9.11% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7371 -5.01% 1.15% -0.08% 5.2% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3234 -4.63% 3.61% 1.92% 5.17% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6737 -2.96% 1.67% -0.24% 5.11% GREPALIFE BALANCED FUND CORPORATION -A 1.3675 -5.5% N.A. N.A. 4.85% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9203 -2.63% 3.04% 2.72% 4.19% PAMI HORIZON FUND, INC. -A 3.656 -5.65% 1.46% 1.74% 3.59% PHILAM FUND, INC. -A 16.5439 -4.72% 1.79% 1.79% 4% SOLIDARITAS FUND, INC. -A 2.1638 -2.76% 3.32% 3.53% 4.42% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8456 -3.59% 3.14% 2.68% 5.32% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0001 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9985 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9982 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9721 -4.01% 2.64% N.A. 5.47% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03566 1.08% 0.27% 1.84% 1.16% PAMI ASIA BALANCED FUND, INC. -A $0.9703 -7.79% 5.03% 0.1% 3.64% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.5265 -3.01% 6.86% 2.08% 6.59% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0548 -4.72% N.A. N.A. 4.44% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 345.29 2.32% 2.11% 2.14% 0.56% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8726 -0.26% -0.2% -0.13% 0.72% COCOLIFE FIXED INCOME FUND, INC. -A 2.9887 5.45% 5.29% 5.28% 0.6% EKKLESIA MUTUAL FUND INC. -A 2.1446 1.75% 1.34% 1.87% 0.66% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2271 0.51% 0.32% 0.82% 0.81% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5964 -1.24% -0.63% 0.52% 2.05% PHILAM BOND FUND, INC. -A 3.9117 -2.33% -1.03% 0.55% -0.21% PHILEQUITY PESO BOND FUND, INC. -A 3.5818 2.54% 0.84% 1.33% 1.84% SOLDIVO BOND FUND, INC. -A 0.9105 -0.38% -0.54% N.A. 2.01% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8288 1.31% 1.06% 1.71% 2.27% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5728 1.01% 0.62% 1.2% 2.14% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $450.73 1.83% 2.11% 3.04% 0.55% ALFM EURO BOND FUND, INC. -A Є214.22 0.58% 1.35% 1.57% 0.74% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.144 2% 1.23% 2.18% 1.62% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.025 1.21% 0.95% N.A. 0.81% GREPALIFE DOLLAR BOND FUND CORP. -A $1.698 -1.99% -0.94% 1.09% 0.46% 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 $1.048 -0.44% -1.19% -2.32% 1% PHILAM DOLLAR BOND FUND, INC. -A $2.2179 1.78% 0.8% 2.96% 2.15% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0573217 0.94% 0.97% 1.87% 0.6% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.924 - 0.94% 0.13% 2.02% 1.81% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 121.58 3.17% 2.02% 1.67% 0.61% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0014 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1858 2.2% 0.84% 0.59% 0.33% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2244 2.85% 2.35% 1.69% 0.44% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0187 1.92% N.A. N.A. 0.28%

* - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE.

**** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.).

***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Wednesday, February 13, 2019

B3

‘Rice tariff bill to create serious problems’

E

By Jasper Emmanuel Y. Arcalas @jearcalas & Cai U. Ordinario @caiordinario

conomists said the removal of the quantitative restriction (QR) on rice will make the staple cheaper but a group of farmers believe that “unclear” provisions in the proposed Rice Tariffication Act would create “serious” problems for the government.

Raul Q. Montemayor, national manager of Federation of Free Farmers Inc. (FFF), said a lot of issues concerning the rice tariffication bill have been “discovered” since the government started crafting the implementing rules and regulations (IRR) for the measure.

One of the issues that have been

discussed by the working group on the IRR are the consequences of the removal of the licensing power of the National Food Authority.

Montemayor said the scrapping of the NFA’s regulatory power would not only mean the loss of its supervision over importers but, as well as its capacity to license warehouses, truckers and

even rice retailers.

This, Montemayor said, could lead to various problems such as the entity that will inspect the warehouses to determine the country’s rice inventory and how the government would ensure that enough rice would be sold in local markets sans the proper documentation of retailers.

“This means now that anyone could sell rice without license as no one would stop them from doing so. And the problem with that would be, how would we determine if they are selling smuggled rice or those staples are not adulterated or substandard? ” he said.

“The government would not be able to trace who sold the rice and where it came from as the enforcement power of the NFA has been removed. It now becomes a food safety issue,” he added.

At present, the NFA inspects commercial warehouses to obtain information on their inventory, which it reports afterward to the Philippine Statistics Authority (PSA).

He added that these problems

are being addressed by the IRR working group to ensure that an effective system will be in place once the proposed Rice Tariffication Act is enacted.

Under the IRR, the removal of the NFA’s regulatory and market powers would be done in phases, which might take less than a year, to give time for the acquisition and training of new personnel that would implement the provisions of the bill, according to Montemayor.

Possible delays

Another problem being tackled by the IRR group is the disbursement of money from the Rice Competitiveness Enhancement Fund (RCEF).

Montemayor said the procurement of machines and seeds by the Philippine Center for Postharvest Development and Mechanization and Philippine Rice Research Institute, respectively, should be undertaken by their central offices and could not be relegated to the Department of Agriculture’s regional offices.

Also, Montemayor noted that

unlike the Agricultural Competitiveness Enhancement Fund (ACEF), interests earned from the RCEF loans would go directly to the National Treasury.

He added that the rice tariffication bill lacked a provision or language that would mandate that the interests earned from the RCEF would revert to the fund.

Montemayor said the first draft of the IRR could be finished within the month but its approval might take longer as it would have to undergo a series of public consultations.

Economists’ appeal

The Foundation for Economic Freedom (FEF) said the QR on rice only made the staple “expensive” and “out of reach” for the poorest Filipinos.

The FEF also said the sooner the President signs the rice tariffication bill into law, the better it would be for Filipinos.

“The time for timid half-measures is over. It is now the time for bold and confident steps. Change is coming for the rice industry, Mr. President. The sooner you

make it happen, the better,” FEF said in a statement.

The FEF also said the bill will also address issues surrounding inefficiencies in the NFA which has been in control of the country’s rice importation, trade, processing and logistics since 1972.

Through the years, the group noted that the NFA’s debts ballooned to P150 billion amid corruption concerns and other issues.

T hese were t he sa me reasons t he economic tea m de c ided to remove t he l icens ing function of the NFA in the proposed bill.

Budget Secretar y Benjamin E. Diokno, prior to his appointment in the Duterte Cabinet, and the late Socioeconomic Planning Secretary Cayetano W. Paderanga Jr. already pushed for the abolition and/or overhaul of the NFA in 2011.

In 2011, Diokno and Paderanga said the overhaul of the NFA will not cause any increase in rice prices. However, Diokno said abolishing the NFA would have been a “better” proposal for Congress.

Caraga corn output rose by 13% in 2018 Singapore’s technical

teams inspecting hog, veggie farms–Piñol

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

D

AVAO CIT Y—Favorable weather and government support allowed farmers in Caraga region or Region 13 to produce more corn last year, according to the regional office of the Department of Agriculture (DA).

W hile nationa l out put declined by 1.81 percent in 2018, data from the Philippine Statistics Authority (PSA) showed that har vest area, production and yield increased over the previous year’s record.

Data from the PSA showed that corn production in 2018 reached 135,627 metric tons, 13 percent higher than the 119,980 MT produced in 2017.

Har vest area e x panded to 36,699 hectares in 2018, from the previous year’s 34,034 hectares.

Also, yield per hectare rose by 5 percent to 3.7 MT, from the 3.53 MT recorded in 2017.

Melody Guimary, DA-Caraga regional corn program coordinator, said last year’s increase was due to favorable weather condition and the support extended by the DA-Caraga to farmers.

“Our support to corn farmers had led the way for an increase of Caraga’s performance in corn industry in 2018,” she said.

The regional office of Caraga in Region 13 said the government distributed P60 million worth of agricultural equipment last year, including farm trac-

T

Farmers in Cauayan City in Isabela rushed to thresh their corn harvest to take advantage of the good weather in this file photo. Corn is regarded as one of the most important staples of the Philippines. LEONARDO PERANTE II

tors, corn picker, combine harvester, compact corn mill and vertical dryer.

Aside from mechanization support, the DA also extended technical support through training, provision of corn seeds and ameliorant, and market support. “ This year, we are hopeful

that the momentum will continue for better production and looking forward to more vibrant corn industr y in the region,” Guimary said.

She said the DA-Caraga corn program is targeting to increase corn production with the expansion of the region’s corn area

by 3,000 hectares.

“Though our projection is not that easy, we are closely working with the local government units [LGUs] in identifying new areas for corn production that would eventually contribute to the increase of our production for the current year,” Guimary said.

he Philippines may be a step closer to penetrating the Singaporean market for its agricultural products, including meat and fruits, as technical teams from Singapore are currently in the country to inspect farms.

Agriculture Secretary Emmanuel F. Piñol said Singapore’s Agriculture and veterinary Agency (AVA) sent two technical teams to the Philippines to conduct the on-site inspection of farms producing vegetables, fruits, hogs, poultry and eggs nationwide. The two teams will conduct the inspection for 10 days.

“The inspection of the Philippine farms is the first step in the planned importation by Singapore of several agricultural commodities from the Philippines,” Piñol said in a post in his official Facebook page on Tuesday.

Among the commodities that the Philippines plan to export to Singapore include high-value crops, pork and processed products, dressed chicken and table eggs, and seafood, such as white shrimps, he added.

Some of the facilities that the AVA teams will inspect are Pilmico Layer Farm in Tarlac; Robina Farm No. 23 in Naic, Cavite; Novo-Agri Inc., an egg-processor in Batangas; Ana’s Breeder

Farms in Davao City.

T he AVA inspection teams would also evaluate Batangasbased egg layer farm Gemsun Marketing, Matutum Meat Packing Corp. in General Santos City, and other farms, as well as government quarantine and sanitary facilities, according to Piñol.

“Next month, the DA will hold a Philippine Agri-Aqua Food Show in Singapore to showcase the best products that the country could offer to the huge market dependent on imported products,” he said. “In May, a Singapore delegation is expected to visit the country to formalize the start of the export of the commodities by the Philippines.”

The Philippines’s interest in exporting farm products to Singapore was driven by the pronouncement of Malaysia last year that it would cut its shipments of poultry products, including eggs, to its neighbor.

“Last year, following reports that Malaysia was scaling down its exports of poultry and eggs to Singapore, the Department of Agriculture immediately reached out to the then Ambassador of Singapore to the Philippines, Kok Li Peng, to make a forma l offer to supply the r ich state’s food requirements,” Piñol said. Jasper Emmanuel Y. Arcalas

Indonesia poultry stocks may keep soaring on supply woes: CIMB

I

ndonesia’s chicken shortage could worsen this year, driving further gains in poultry stocks, according to CGS-CIMB Sekuritas.

The nation’s poultry association projects that the supply of chicks will drop to 3 billion in 2019 from 3.2 billion last year, after the government banned the use of antibiotics in chicken feed, analyst Patricia Gabriela wrote in a report. A shortage of chickens has boosted the stock price of poultry producer PT Charoen Pokphand Indonesia, which has climbed 2.8 percent since the start of 2019 after surging 140 percent last year.

Other poultry companies, including PT Malindo Feedmill and PT Japfa Comfeed have also rallied, as a growing middle class

in the world’s fourth most populous nation shifts its protein consumption to meat from grains.

Shares of Malindo, CIMB’s top stock pick for the industry, have gained 20 percent this year after rallying 89 percent in 2018.

Japfa has surged 27 percent so for this year, adding to its gain of 65 percent in 2018.

CP Indonesia is expected to report a record profit for 2018, with its widest net profit margin in five years, according to analyst estimates compiled by Bloomberg. The price of a day-old-chick, known as DOC, rose 42 percent year-on-year in January, after poultry prices reached all-time high last year, according to Gabriela.

“The higher DOC price reflects its more acute shortage, which we expect to normalize in 3Q19F,”

A vendor handles chicken at a stall inside the Wonosari Market in Yogyakarta Dimas Ardian/Bloomberg

wrote Gabriela, who maintains an overweight recommendation on the industry. “We expect the sector’s upcycle momentum to last up to 2Q19.”

Still, higher corn prices and the government intervention pose risks for the industry. President Joko Widodo has been putting more effort in controlling inflation and prices of basic necessities ahead of presidential and general elections in April.

While the government can ask producers to cut prices, especially if the cost of chicken rises too steeply ahead of the Ramadan festive season in the middle of this year, CIMB says not much can be done to fix

the industry’s shortage.

“The government can only ask the big poultry players to sell DOC at a discounted price to independent farmers,” Gabriela wrote.

“Overall, we believe there is not much the government can do to correct the current environment of supply shortage.” Bloomberg News

B4 Wednesday, February 13, 2019

GET READY FOR THE 2ND PHILIPPINE RETAIL SUMMIT 2019!

S

PEAKERS from Facebook, Google, Zalora, Lazada, Jollibee, and more industry experts, retail associates are set to share justified insights that are relevant in dealing with the complex

#GenCX market. This event is organized by public relations event and agency Kinetix Creations PH and Village Pipol magazine by RED Entertainment. #PRS2019 #ItsMoreFUNwIamRED

FINANCE SECRETARY CARLOS DOMINGUEZ HAILED AS DATU BY SULTAN OF LANAO

A

DDING more responsibility on his shoulders, Finance Secretary Carlos G. Dominguez III has been hailed as datu by Lanao Sultan Firdausi Ismail Yahya Abbas. The secretary is the first recipient of the royal grant of datu since the enthronement of Sultan of Lanao Sultan Abbas in 1996.

The conferment event held at the Marco Polo Hotel in Davao City was also a showcase of the Maranao culture, with the procession of Sultans and Datus accompanied with the rhythm of ethnic sounds.

Present at the ceremony were Sultan of Sulu and Sabah Sultan Mohammad Fuad Abdullah Kiram and his son Rajah Muda Al Mezzheer Kiram, chief executive officer of the Sultan Lanao Foundation Sitti Khadija Rahma Abbas,

lawyers Datu Yasser Ismail Abas and Bai Joanna Abbas, and Datu Luis Agimuddin Delgado III. Also gracing the ceremony were presidential adviser on overseas Filipino workers and Muslim concerns secretary Abdullah Mamao, and Bureau of Internal Revenue commissioner Caesar Dulay, including other datus, sultans and bai-a-labis.

As part of the proclamation, Dominguez was presented the scroll of conferment, signifying his status as a datu; a gold-plated kandit; and a gold-plated gonong, which symbolizes his authority and duty.

Dominguez vowed to protect and embody the honor of the Maranaws and its sultans. The secretary also assured that he will aid in helping the people of Marawi return to their homes and improve their livelihood.

EREHWON CENTER FOR THE ARTS JOINS IN THIS YEAR’S PASINAYA

T

HR EE of Erehwon Center for the A r ts ar tistic g roups and members of the Erehwon A r t Cou nc i l pa r t ic ipated i n t he Pasinaya 2019, the largest mu ltia r ts fest iva l i n t he cou nt r y, a prog ram of the Cu ltura l Center of the Philippines (CCP) held from Febr uar y 1 to 3.

T he Ere hwon d a nce sc hol a rs displayed grace and balance in their performances of skill dances from the province of Pangasinan, namely, “Kumakaret”, “Binasuan”, “Pasikat sa Baso”, and “Sayaw sa Bangko”.

T he Erehwon ronda l la youth ensemble, comprised of students from Bagong Silangan High School, under the musical directorship of Jasper Familaran, complemented the dance performance w ith the accompanying rondalla music. The dance performance was staged at the CCP’s main ramp on Februar y 3. T he Erehwon d a nce sc hol a rs a r e h i g h - s c ho o l s t u d e nt s f r o m Batasan Hills National High School a n d B a g o n g S i l a n g a n N at i o n a l

High Sc hool, t ra i ned u nder t he mentorship of professiona l fol k dancers Dante Ballesteros, Roldan Bonifacio and Janet Amor.

Another member of the Erehwon A r t Council, the Du lambuhay Philippine playback theater, which literally translates to “theatre of life” and a “ live theatre”, participated in the festival by holding a workshop on February 1 at Tanghalang Batute, and a performance on February 3 at CCP’s main gallery. The group,

he a d e d b y F h a b i Faj a rd o, h a s traveled within Asia sharing their passion for playback theater through workshops and performances. Catch their next performance at Ateneo De Manila University on February 24 at 5 p.m. Titled “All About Art, Love, Power”, the show is open to the public and admission is free.

T he Ere hwon Center for t he Arts is a member of the Philippine Performing Art Centers Consortium, a project of the CCP.

AVON MAKES YOU FALL IN LOVE WITH YOUR TRUE COLORS

T

HE Korean glass skin, the Asian drunk blush and the return of glitter filled all sorts of beauty trends last year. These were great creative outlets. However, these trends hardly felt natural for Filipina skin.

It’s time to go full circle with a fab palette that shows who we truly are. Luckily, the No. 1 makeup brand in the Philippines makes it easier to embrace #EveryShadeOf You. Avon has just come up with a new line of nude lipsticks from Avon True Color, and it’s as gorgeous as it gets with our natural skin tone.

The new Avon True Color perfectly matte nude lipsticks come in six new matte shades, covering a full range of Filipina-friendly tones. Go light with nude suede or deep brown with chocolate crush. Explore the various creamy tans in between, including marvelous mocha, french toast and lush cocoa. You can even wear a hint of red with divine twig and glam it up while staying true to your tone!

Whatever shade you choose, you’re guaranteed fuss-free colors that never compromise. It’s so easy to wear as Avon True perfectly matte lipsticks

give you intense color in just a swipe.

The new Avon True color perfectly matte nudes are available this February for a special price of just P349 (save P50!) or P399 for two pieces. Go to avonshop.ph or get in touch with an Avon representative to learn more.

Don’t have an Avon representative?

Visit www.avon.ph or l i ke Avon Philippines on Facebook to find out how you can get in touch with our representatives.

Want to order Avon on-the-go?

Download the Avon Brochure app on Google Play or Apple Store today!

#CELEBRATELOVEATSM Fill your hearts with sweet and wonderful mementos at SM Center Muntinlupa's love arch. Capture picture-perfect moments with your family, friends and special someone as we #CelebrateLoveAtSM.

A BusinessMirror Special Feature

www.businessmirror.com.ph

Wednesday, February 13, 2019 B2-1

THE BEST AND THE BRIGHTEST

AT THE 54TH ANVIL AWARDS

“STI Mobile School: Driving Education Where IT Matters in the Age of K-12,” STI-ESG/PageOne Inc.

ENERGY Development Corp. and PageOne Inc. bagged the Platinum Award for their entry “OMGeo Vlog Series: The Geothermal Effect.”

T

By Leony R. Garcia

HE Anvil Awards, considered to be “the Oscars” of the PR industry in the Philippines, is presented annually by the Public Relations Society of the Philippines (PRSP) to recognize excellent PR campaigns that have impact on their target audience and the society in general.

The 54th Anvil Awards was highlighted by the digitization of the awards process, a first in the Anvil’s 54-year history. Under the new digital system, submission of entries, screening, judging, and payment were undertaken electronically.

Anvil’s Gabi ng Parangal on January 30 concluded with 181 Anvil trophies presented to outstanding public-relation programs and tools in 2018. Andy Saracho, APR chairman of the 54th Anvil Awards, announced that 121 Anvils were awarded to campaigns under the PR Programs category while 60 awards were handed to entries under PR Tools.

Under the PR Programs category, 88 Silver Anvil awardees, 33 Gold Anvil awardees The Grand Anvil were awarded to the entry “STI Mobile School: Driving Education Where IT Matters in the Age of K-12” of STI ESG and PageOne Inc.

For PR Tools, 17 Gold and 43 Silver Anvils were awarded. Adjudged Platinum Anvil Awardees

were the entries “On the March: the Jesuits in the Philippines Since the Restoration” of Media Wise Communications Inc. and “OMGeo Vlog Series: the Geothermal Effect” of Energy Development Corp. and PageOne Inc. The Philippine Long Distance Telephone Co. was awarded Company of the Year while PageOne Inc. won the Agency of the Year Award.

Dr. Alfredo Pascual, chief executive officer of the Institute of Corporate Directors, chaired the multisectoral panel of judges that evaluated the short-listed Anvil entries.

What makes an excellent PR campaign?

ACCORDING to DDB Group Philippines, one of the top 3 finalists for Agency of the Year in the 53rd Anvil Awards last year, the shift in the use of public relations toward supporting both the marketing objectives and the corporate social-responsibility initiatives of companies and in-

stitutions is very much evident these days.

The PR programs and tools that usually win in the industry’s highest accolades were those considered highly effective not only in raising brand loyalty and awareness, but also informing and educating the public and building consumer trust and engagement; and also those that serve higher human and community needs, according to the group.

Couple with the use of social media, the campaigns amplify content among various target audiences.

And with more Filipinos hooked on the Internet, the more the campaigns become successful as more audiences get engaged and share their experiences.

For the PRSP, only the legitimate PR programs and tools will find their way to the Anvil Awards, being the vanguard of the PR profession implementing the Anvil with utmost credibility based on the following criteria: result and social impact, sustainability, and innovation . These are what it takes to be a winner: the program should be innovative, trailblazing, and game-changing or transformative.

That’s why the PRSP, turning 62 this year, continues to be the guiding body of Filipino communicators and PR practitioners. More than just uniting the country’s communicators and PR practitioners, PRSP intends to live up to the very DNA, which it was created for: Promoting professional integrity based on sound and ethical practice. PRSP President Ritzi Villarico Ronquillo, APR, affirmed this in an earlier interview by this writer for the BusinessMirror.

A BusinessMirror Special Feature

B2-4 Wednesday, February 13, 2019

www.businessmirror.com.ph

Ang Huling El Bimbo dances again at Resorts World Manila

I

T was in September last year that Resorts World Manila broke new ground in Philippine theater with Ang Huling El Bimbo, the critically-acclaimed, perpetually sold-out original musical play featuring beloved songs from the most iconic ‘90s Filipino rock band set to the moving story of four friends and their trials and triumphs.

The demand to see the show was so high that despite adding additional show dates to the original run, many theater and music fans were still unable to get tickets. This is why on its 10th year, Resorts World Manila is giving audiences another chance to catch Ang Huling El Bimbo at the Newport Performing Arts Theater from March 1 to April 6.

Many of the original cast members will be reprising their roles, including Gian Magdangal, OJ Mariano, Jon Santos, Reb Atadero, Boo Gabunada, Bibo Reyes, Tanya Manalang, and the First Lady of Philippine Theater herself, Menchu Lauchengco-Yulo. Joining them is a new set of actors who will bring their own brand of energy to the play - Nicco Manalo, Lance Reblando, David Ezra, Phi Palmos, Myke Salomon, Rafa Siguion-Reyna, Gabriella Pangilinan, and Carla Guevara- Laforteza.

Audiences who watched the first run of Ang Huling El Bimbo are guaranteed a fresh experience for the second run with new twists care of the creative team of Director Dexter Santos, Musical Director Myke Salomon, Associate Director Menchu Lauchengco-Yulo, Artistic Director Michael Williams, Playwright Dingdong Novenario and Costume Designer Marlon Rivera. The team will also be joined by writer-director extraordinaire Floy Quintos for the second run.

“Given the huge success of the first run, we wanted to ensure that the audiences will still be treated to all the best- loved songs as in the original, save for a few tweaks in aid of a more streamlined storytelling,” says Lauchengco-Yulo. “It’s an even

more amazing show now for those who will see it for the first time, and these changes will bring an added dimension of enjoyment for those who have already seen it before.”

Special show promotions are available to Resorts World Manila members through the RWM Mobile App which is available for free download via the AppStore or GooglePlay.

Guests who are 21 years old and above may avail of free RWM membership to qualify for RWM Mobile App promotions.

Tickets to Ang Huling El Bimbo are available at Ticket World (www. ticketworld.com.ph) and the RWM Box Office at GF Newport Mall, Resorts World Manila. Call the Tourist/Visitor Hotline at (02)908-8833 for inquiries.

54th

AnvilAw

A BusinessMirr

B2-2 Wednesday, February 13, 2019 | www.businessmirror.com.ph

THE DEEPER MEANING

I

By Jones T. Campos, APR

N the public relations (PR) function/profession, the Anvil Awards, known as “the Oscars” of Philippine PR, is considered one of the reliable measurements of an effective and successful PR program or tool.

It has become imperative that corporate communicators, be it relating to their publics or customers, have to validate the relevance of such programs and tools through the Anvil.

A corporation or a company, big o small, recognizes the fact that doing good in all areas of the business is a must. Having excellent products and services is the primary and absolute purpose of businesses. But, in a competitive world, the “X factor” and the “extra mile” are additionally asked of its human resources from its various business units or departments. Actually, doing good may not be good enough

by the standards set, and so every member of the team is asked to be productive and creative by delivering or surpassing revenue targets.

Being the best in the market or in the business entails communication. This may be done through an expensive advertising campaign, or the more practical and cost-efficient PR exposure. The challenge is how to stand out, especially when competing companies have the same mindset. Finding one’s competitive advantage is crucial, especially if the company’s communication strategy is for the long-term.

In the end, it is a sustainable bot-

“ON THE MARCH: the Jesuits in the Philippines Since the Restoration” by Media Wise Communications Inc.

tom line that matters.

“Doing good and telling it well” is a PR mantra. From excellent delivery of products and services to delighting satisfied customer, here lies the prudent use of media channels or media relations. The other side of this PR strategy is corporate social responsibility and this is the area where the Anvil is most relevant. PR and the whole communication initiative of a company is undoubtedly a cost center, therefore, such activity must bring about positive results.

Philanthropy through financial donation, the traditional practice in PR, which was widely practiced before, is now a passé. Nowadays, corporate responsibility has a new face, channeling company resources to allied projects related to its business and encouraging volunteerism among company employees. This enhances teamwork, loyalty and commitment, especially in humanitarian projects. Programs related to education, care for the environment, and entrepreneurship are appealing as they contribute toward poverty alleviation and national development.

Since the times are now engulfed by the pervasiveness of the Internet, e-commerce, or digital marketing and communication, social media in its various platforms—like Facebook, Twitter, Instagram, to name a few— have spurred online connections, and have, somehow, affected traditional

ALFREDO Pascual, chairman panel of judges

RITZI Ronquillo, APR, PRSP president

PRSP CONCLUDES 54TH ANVIL AWARDS T HE Public Relations Society of the Philippines (PRSP) concluded the 54th Anvil Awards with 181 Anvil trophies presented to outstanding public relations programs and tools in 2018.

Andy Saracho, APR chairman of the 54th Anvil Awards, announced that 121 Anvils were awarded to campaigns under the PR Programs category, while 60 awards were handed to entries under PR Tools.

The Anvil Awards, considered to be “the Oscars” of the PR industry in the Philippines, is presented annually by PRSP to recognize excellent PR campaigns that

have impact on their target audience and the society in general. The 54th Anvil Awards was highlighted by the digitization of the awards process, a first in the Anvil’s 54-year history. Under the new digital system, submission of entries, screening, judging and payment were undertaken electronically.

Under the PR Programs category, 88 campaigns won the Silver Anvil while 33 programs got the Gold. The Grand Anvil awarded to the entry “STI Mobile School: Driving Education Where IT Matters in the Age of K-12” of STI ESG and PageOne Inc.

For PR Tools, 43 Silver and 17 Gold Anvils were awarded.

Adjudged Platinum Anvil Awardees were the entries “On the March: the Jesuits in the Philippines Since the Restoration” of Media Wise Communications Inc. and “OMGeo Vlog Series: the Geothermal Effect” of Energy Development Corp. and PageOne Inc.

The Philippine Long Distance Telephone Co. (PLDT Inc.) was awarded Company of the Year, while PageOne Inc. won the Agency of the Year Award.

Dr. Alfredo Pascual, chief executive officer of the Institute of Corporate Directors, chaired the multisectoral panel of judges that evaluated the short-listed Anvil entries.

wards

ror Special Feature

x www.businessmirror.com.ph | Wednesday, February 13, 2019 B2-3

G OF THE ANVIL ANDRES Saracho, APR chairman

AGENCY of the Year PageOne Inc.

channels. The additional challenge is being on vigilant on the influx of disinformation or misinformation by unethical trolls peddling fake news or content in cyber space.

Only the legitimate PR programs and tools will find their way to the Anvil Awards. The Public Relations Society of the Philippines is the vanguard of the PR profession and it implements the Anvil with utmost credibility, from screening of entries to judging by selected multisector jurors. No award is given unless the standards are met.

Aside from a well-packaged entry, winning in the Anvil necessitates considering these criteria: result and social impact, sustainability and innovation. Result and social impact is having a wide geographical reach and generated the greatest degree of change, overcoming

a considerable degree of difficulty, and solving an important and/or imminent business need or societal ill. Sustainability means a PR program can be replicated beyond the short term until the desired change is affected. It is having a track record of being an effective PR program or tool having won several awards through the years.

A program is innovative if it is trailblazing, game-changing or transformative. These are what it takes to be a winner.

The ultimate moment comes at the Gabi ng Parangal where one brings along his/her bosses and receive the Anvil trophy as reward for a job well done. For the whole year it serves as a bragging right until the next submission of entries. And that can be the deeper meaning of the Anvil.

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

LINDSEY VONN goes flying down the hill on a magical run that Hollywood couldn’t have scripted any better. AP

Sports BusinessMirror

Wednesday, February 13, 2019

C1

PERFECT DAY TO SAY GOODBYE B T D The Associated Press

L

INDSEY VONN just wanted to win.

Win every time she put on skis. Win more than any other female ski racer before her.

Win no matter how much she hurt or how much the eventual cost would be to her body.

That might be why Vonn was so perplexed the other day when heir apparent Mikaela Shiffrin—who grew up wanting to be another Vonn and may one day surpass her as the greatest female skier eve—decided against trying to win five medals at the world championships in Sweden.

“I’m a racer and I want to race in every single race that I possibly can,” Vonn said. “So I don’t personally understand it.”

There’s no way Vonn could understand. She knew only one way, and that was to go as fast as she can before she could go no more.

That time came on Sunday, and there was no way Vonn was going home without a medal.

It was a bronze in the downhill, but it was just as good as gold. If this was Vonn’s final day as a ski racer—and every aching bone in her body said it was—she wasn’t going to leave anything in the tank.

Then again, Vonn never leaves anything in the tank.

“I think everyone knows my mentality at this point,” Vonn said afterward. “I always risk everything all the time. It’s the reason I’m able to win so much but also the reason I crash so much.”

The wins piled up over the years, 82 of them in all, more than

any skier not named Ingemar Stenmark. So, though, did the crashes, costing her even more wins and the Olympic medals that often define the greats.

The last came five days before her final medal, a fall in the super-G that not only knocked the wind out of Vonn but gave her a black eye and a bruised rib. That was on top of the ligament Vonn tore in her left knee three months ago, and the aches and pains that had to make her feel much older than 34.

The plan had been to ski another year before saying goodbye.

But Vonn’s body wouldn’t cooperate, and the decision she didn’t want to make was made for her.

She could have coasted down on one ceremonial final run before basking in the applause at the bottom of the hill. But Vonn never coasted, and she wasn’t about to in her final race.

She willed herself to the starting gate one last time, catching a break because the course had been shortened due to weather. Then she flew down the hill as fast as she could, hoping her body would somehow stay in one piece at least to the finish line.

It did, in a storybook finish to one of the most remarkable careers ever. “I risked it all today as always,” Vonn said. “I was so nervous all day, serious anxiety. I think I wanted more than anything to finish strong.”

Consider that one final task accomplished. The record books will show that Slovenia’s Ilka Stuhec won the gold, but this was Vonn’s day and this was Vonn’s race.

She invited Stenmark, the Swedish great, to the final and that was fitting. Stenmark holds the record for most races won at 86,

IT WAS A BRONZE IN THE DOWNHILL, BUT IT WAS JUST AS GOOD AS GOLD. IF THIS WAS LINDSEY VONN’S FINAL DAY AS A SKI RACER—AND EVERY ACHING BONE IN HER BODY SAID IT WAS— SHE WASN’T GOING TO LEAVE ANYTHING IN THE TANK.

a mark Vonn had her eyes on before finally realizing that Father Time beats everyone, even the best female ski racer on the planet.

Mike Tyson used to say boxing was a hurt sport. So is downhill racing, and Vonn’s own body is proof.

She’ll begin her retirement with her seventh knee surgery—this one a total reconstruction—and knows she’ll have pain the rest of her life from the rods, plates and screws inserted in her various parts.

Going on simply wasn’t an option anymore, even for the woman who never wanted to do anything other than go fast and win.

“I wish I could have gotten [87] but not at the risk of the rest of my life,” she said.

The numbers Vonn put up over the years are staggering, even if just one gold medal in four Olympics seems not nearly enough.

More important, perhaps, Vonn put a face—most often a smiling one—on a sport that was in desperate need of a star.

“She is a PR machine, if you want, for our sport,” said Gian-Franco Kasper, president of the International Ski Federation.

She was on this final week, with a crash and then a medal that was like a mini soap opera of her entire career. The sun came out just as she prepared to enter the gate for one last time, and Stenmark himself was waiting at the bottom of the hill with a giant spray of flowers.

The nerves went away, the pain subsided ever so briefly. Then Vonn went flying down the hill on a magical run that Hollywood couldn’t have scripted any better.

“Just a perfect day for downhill,” Vonn said.

And a perfect way to say goodbye to a legend.

MICKELSON FINISHES OFF 5TH WIN AT PEBBLE BEACH

P

EBBLE BEACH, California—Phil Mickelson is closing in on three decades on the Professional Golfers’ Association (PGA) Tour and a half-century on Earth, and he still feels his best golf is good enough.

He was at his best at Pebble Beach, and no one had a chance.

A Monday finish brought on by rain and a freak hail storm was only a minor inconvenience for the 48-year-old Mickelson. He played two holes just as well as the previous 16 and polished off his bogey-free final round with one last birdie for a seven-under 65 and a three-shot victory over Paul Casey in the AT&T Pebble Beach Pro-Am. Mickelson won at Pebble Beach for the fifth time, matching the record set by Mark O’Meara. He has gone 28 years since his first PGA Tour victory and his 44th, and he joined Tiger Woods as the only players to surpass $90 million in career earnings.

“It’s a lot more work and effort to play at this level,” Mickelson said. “And I have believed for some time that if I play at my best, it will be good enough to win tournaments. The challenge is getting myself to play my best. It’s a lot more work off the course, it’s more time in the gym, it’s more time eating, it’s more time focusing, it’s all these things that go into it.

“And so it’s gratifying to see the results and to finish it off the way I did.”

Making it even more special is Pebble Beach, where he made his pro debut at the US Open in 1992, where he won the first of his five titles in another Monday finish in 1998, this one in August because of rain. It’s where his grandfather, Al Santos, was among the first caddies when the

course opened in 1919, and Mickelson still uses as a marker the 1900 silver dollar his grandfather kept in his pocket to remind him he was not poor.

There was plenty of sunlight for the Monday morning finish, just no drama.

Mickelson, who started the final round three shots behind, never came close to a bogey and built a three-shot lead through 16 holes on Sunday night when it was too dark to finish, no matter how hard he lobbied to keep going.

The final round on Sunday had been delayed at the start by one hour because of the rain, and then sunshine quickly gave way to hail that covered the greens in a sheet of white and led to a two-hour delay.

Mickelson said he could “see just fine” even after sunset, knowing darkness falls quickly on the Monterey Peninsula. Casey could barely see the 3 feet of grass between his ball and the cup on the 16th hole and said there was no way to complete two holes in six minutes. Mickelson was on the 17th tee, shaking his head when he heard the siren to stop play.

On Monday morning, he had a change of heart and said he thanked Casey for standing his ground.

“Paul made the tough call, but it was the right decision in that he protected himself and myself for the competition,” Mickelson said. “I just get in my own little bubble and I don’t see the big picture.”

It worked out well in the end.

Mickelson finished at 19-under 268. Casey needed Mickelson to make a big blunder on the two closing holes, and there was little chance of that. Casey at least birdied the 18th for a 71 to finish alone in second, the difference of

$152,000.

He also won the Pro-Am with Don Colleran, the chief sales officer for FedEx. But the final day, and all week, was about the ageless Mickelson.

This was the fourth time that Casey had a 54-hole lead of at least two shots on the PGA Tour and failed to win. The other three times he was two-over par or worse in the final round. This time, he closed with a 71 and lost to Mickelson’s 65, which matched the low score of the final round.

“A phenomenal round of golf,” Casey said.

Mickelson’s longest putt for par was 4 feet.

He played the final 26 holes in cold, damp and windy weather without a bogey.

How it bodes for the rest of the year—particularly in June when the US Open returns to Pebble Beach—was of little concern to Mickelson. The US Open remains the final piece of the career Grand Slam for Mickelson, who already holds the record with six runner-up finishes. He finished three shots behind Graeme McDowell in 2010, the last US Open at Pebble.

And while the fairway lines already have been cut much tighter at Pebble, the conditions were so soft that balls plugged in the fairway when they landed and greens easily held shots even from the rough.

“It’s nothing like the course we’ll see,” Mickelson said. “I’ll deal with that in six months.”

Mickelson lives for the moment. He says he had as much fun winning at Pebble Beach as when he finished one shot behind in the Desert Classic three weeks ago.

It’s the thrill of competition. And even at 48, that never gets old. AP

PHIL MICKELSON was at his best at Pebble Beach, and no one had a chance. AP

C2

Spo

Business

Wednesday, February 13, 2019

KNIGHTS CLOBBER UNDERMANNED TRINITY CAPITALS IN M.P.B.L. DRIBBLERS

T

HE loaded San Juan Knights pounced on a decimated Quezon City Capitals side to score a 68-50 rout in the Maharlika Pilipinas Basketball League (MPBL).

The Capitals played without four key men— Hesed Gabo missed the game to attend to a prior commitment in Japan while his backcourt mate, Andoy Estrella, wasn’t fielded because of a hamstring injury.

Big man Jeff Morillo was sidelined by a shoulder injury while the team’s premier frontliner, Jay Collado, played for only six minutes and went on scoreless for Quezon City.

The Knights took advantage of their undermanned foes to pick up their 18th win in 23 games at their home court, the Filoil Flying V Arena, and stay at fourth spot for a guaranteed home-court advantage in the next round.

Without the usual production of the four key players, the Black Mamba-supported Capitals had a lousy game. Their free-throw shooting was an eyesore at only 24 percent, hitting only eight-of-33 attempts.

Quezon City absorbed its 11th loss in 21 games, but remained in sixth spot in the northern division.

If San Juan was able to secure homecourt advantage, Caloocan kept its flickering playoff hopes alive following its 76-62 win over Laguna.

By beating the Heroes, the Supremos notched their 10th win in 24 games and stayed at No. 9 spot. With only one game left, they need to wrap up their elimination-round campaign with a win and hope that Quezon City, Navotas and Pampanga won’t exceed 10 wins.

Almond Vosotros finished with 23 points, eight rebounds and five assists, while Damian Lasco ended up with a career-high 21 points for the Supremos.

It was a crucial setback for Laguna, which dropped to 10-14 and at ninth spot of the southern division.

STAMP MARK IN Q.C.B.L.

ATENEO’S RAVENA LEADS LIST OF NEW FACES IN D-LEAGUE

T THE Trinity University of Asia Stallions celebrate their victory in the Open Division.

B

IG man Daniel de Guzman sparkled in offense as Trinity University of Asia turned back Nyro Saints, 76-69, to rule the Open Division of the Quezon City Basketball League (QCBL) First Conference over the weekend at the NRMF Gym in Fairview.

The steady center de Guzman scored at will from inside and out of the paint on the way to a game-high 29 points on top of nine rebounds to give Trinity a confidence-boosting aura as the

team prepares for bigger tournaments ahead.

Coach Alvin Grey said they are using the QCBL as an exposure for tougher games ahead in the Philippine Basketball Association D-League, where they are seeing action for the first time.

De Guzman’s 22-point explosion in the second half allowed the Stallions to turn a 25-35 halftime deficit into a rousing victory in the maiden season of the tournament supported by Wilson, Cashen Advertising, Far Eastern University-NRMF,

Fit N Rite, Smart Communication and Kyzox Foundation.

Ably supporting de Guzman were old reliables Joshua Montero and Christian Goduco, who had nine and eight points, respectively.

Dave Tecson and Jherald Manacho combined for 31 points for the Saints.

In other finals matches, SSI Metal defeated Magic Seven, 96-87, to rule the Cadet Division while Nemesis beat Regalado Vet, 101-90, to

bag the Starter Division.

QCBL Executive Director BJ Manalo congratulated all the teams and winners, and applauded them for the sportsmanship they displayed in the entire tournament.

“We thank all our teams, from the owners to the coaches and players, and our sponsors for making our first QCBL successful,” said Manalo, a former De La Salle University Archer and team executive at GlobalPort in the PBA.

B R R B

Fiba World Cup qualifiers.

The Alaska-Blackwater match is set at 4:30 p.m., while the clash between Magnolia and Rain or Shine kicks off at 7 p.m. Action in the seasonopening conference won’t resume until February 27 at the Smart Araneta Coliseum, when Meralco tangles with Columbian Dyip and Phoenix goes up against NorthPort.

“There’s no turning back in our support for the national team—the PBA is all-out to support Team Pilipinas,” PBA Commissioner Willie Marcial said. Team Pilipinas is currently preparing for its last two must-win games in the qualifiers against Qatar and Kazakhstan, respectively.

The Filipinos are currently in fourth spot in Group F with an even 5-5 won-lost record, hoping to earn a berth in this year’s World Cup to be held in China in September.

The team leaves for Doha, Qatar, on February 16 and will play the host country on February 21. It travels to Astana on February 22 to battle Kazakhstan on February 24.

The Elasto Painters (6-1 won-lost) hope to take command and follow up on their overtime conquest of the Phoenix Fuel Masters, 98-94, in the process dealing their victims their first loss in six outings. Beau Belga and Kris Rosales each had 16 points, while Maverick Ahanmisi and Raymond Almazan added 13 and 12, respectively,

for the Elasto Painters Head Coach Caloy Garcia reminded his team that sustaining their form could get harder as the conference gets more crucial, especially after the long layoff. “We can’t be complacent. We know it’s going to be harder each game. We just have to stick to the system,” Garcia said.

The Hotshots, on the other hand, just couldn’t seem to get their rhythm after winning the Governors’ Cup. They are 0-2 so far.

Magnolia bowed to defending champion San Miguel Beer, 92-113, also last Sunday as Arwind Santos and Terrence Romeo combined for 52 points for the Beermen.

“We are not yet in the rhythm,” Magnolia Coach Chito Victolero admitted. “Most of our opponents already had six, seven or eight games.

We are just starting the conference.

“But it’s not an excuse. I told my players that we must find our chemistry again,” Victolero added.

P.B.A. GIVES WAY TO TEAM PHL BID A

LASKA faces Blackwater and Rain or Shine meets Magnolia on Wednesday at the Mall of Asia Arena before the Philippine Basketball Association Philippine Cup goes on a two-week break for Team Pilipinas’s crucial campaign in the sixth and final window of the

HIRDY RAVENA banners the new faces who will set foot in the 2019 Philippine Basketball Association D-League wars set to open on Thursday at Ynares Sports Arena in Pasig City.

The athletic swingman Ravena will carry the torch for Cignal-Ateneo, as the back-to-back University Athletic Association of the Philippines champion makes its maiden foray in the developmental ranks. “I can’t wait for the competition because this is a new experience, a new platform for all of us—not just for me but the whole team.

I can’t wait to play in the D-League,” Ravena said.

Top overall pick Joshua Munzon will strut his stuff for AMA Online Education, together with Kib Montalbo and Troy Rike, while Adamson University forward Sean Manganti will lead the fight for Che’Lu Bar and Grill.

Foundation Cup champion Go for Gold-College of Saint Benilde entrusts its destiny on high-flyer Justin Gutang and sweet-shooting Roosevelt Adams, who are both fresh from their Mighty Sports stint in the Dubai International Championship.

James Canlas leads the youth revolution in Metro Pac-San Beda, do-it-all forward Dave Ildefonso will take the lead for SMDC-National University and Marinerong Pilipino will bank on the duo of Santo Santillan and Anton Asistio.

Jun Manzo will captain Diliman College-Gerry’s Grill, Ken Tuffin will steer the wheel for Cha Dao-Far Eastern University, Ian Alban is expected to be the go-to guy for The Masterpiece-Trinity University of Asia and Ben Adamos will make his debut for Perpetual Help and will team up with the comebacking Keith Pido.

Mark Nonoy, one of the youngest to ever play in the D-League at 18, will see action for University of Santo Tomas.

But this season isn’t all about the fresh blood, as studs from last year will make their respective comebacks.

University of the East super scorer Alvin Pasaol takes his act to Petron-Letran, while FEU shooter Arvin Tolentino will now be donning the Wangs Basketball colors.

Allyn Bulanadi and RK Ilagan will also be the backbone for Valencia City Bukidnon-San Sebastian, while JP Maguliano and Cedric de Joya anchor Batangas-Emilio Aguinaldo College.

Rich Guinitaran will captain the still-intact Centro Escolar University, while Mohammed Pare is still a force to be reckoned with down low for St. Clare Virtual Reality.

Former PBA players will also abound in the 20-team field, with veterans imparting muchneeded wisdom among their younger teammates.

Ogie Menor makes his comeback with McDavid together with Jerick Canada and Jason Melano, as Fonzo Gotladera and Marvin Hayes lead the ship for Family Mart-Enderun.

MAGCALAYO AHEAD BY SIX

J

CLINIC IN DUBAI National Team Coach Jong Uichico (seventh from left) poses with the coaches who took part in the recent Samahang Basketbol ng Pilipinas-sponsored coaching and basketball clinic held at the Shabab Al Ahli Club in Dubai recently. Uichico, who was an assistant coach of Mighty Sports that finished third in the 30th Dubai International Basketball Championship, supervised the two-day clinic also at the same club.

Cebu scribes pick Lhuillier as top patron

J

EAN HENRI LHUILLIER, a longtime Philippine Sports patron, was awarded Sportsman of the Year in the 36th Sportswriter Association of Cebu (SAC) Awards.

The recognition was well-deserved for Lhuillier, who has served and supported Philippine sports for more than three decades in the fields of basketball, tennis and softball, while also supporting select athletes in bowling and swimming.

“It was a recognition that I do not take lightly, it encourages me to continuously do my part in bringing glory to Philippine sports,” said Lhuillier, who is also the president of the Amateur Softball Association of the Philippines and the Unified Tennis Philippines.

Lhuillier is the man behind former world No. 17 doubles player Treat Huey and Ruben Gonzales and the 2020 Tokyo Olympics quest for the Blu Girls. Despite all these achievements, Lhuillier is not about to stop.

“I’m just getting started. I have high hopes for both Philippine softball and tennis, as these are sports that I firmly believe where we have what it takes to be the world’s best. I vow to give my best to make these dreams a reality,” he said.

Through the Unified Tennis Philippines, which he cofounded and now spearheads as its president, Lhuillier has planned out 104 tournaments nationwide from open, age-group and club tournaments.

JEAN HENRI LHUILLIER (center) is named the 2018 Sportsman of the Year by the Sportswriter Association of Cebu.

OLO MAGCALAYO sizzled with a bogey-free seven-under 65 to open a huge six-stroke lead over sibling Jonas even as Sofia Chabon, Junia Gabasa and Eagle Ace Superal took charge in the women’s side with 75s at the start of the W Express RVF Cup Amateur Golf Championship at the Canlubang Golf and Country Club in Laguna on Tuesday.

Cashing in on his local knowledge of the course he calls home, Jolo, 17, banged away four birdies at the front then kept his charge in the last nine holes of the North layout to outgun Aidric Chan and Korean Kim Tae Soo for a personal best 32-33 card in near-ideal condition.

Two flights behind, Jonas, 22, also turned in a solid frontside 33 but failed to match Jolo’s sustained run and stumbled with a 38, settling for a 71 while Chan and Zachary Castro matched par 72s for joint third in the early going of the 72-hole championship held in honor of the late National Golf Association of the Philippines president and golf patron Rod V. Feliciano.

Jolo birdied the par-5 second hole to spark a run that included birdies on Nos. 5, 8 and 9, then after three pars at the back, he birdied the next two, then capped his sterling round with another birdie on No. 16 to find himself way ahead of the pack.

Perry Bucay rallied with a backside 33 to tie Masaichi Otake at 73 while Don Petil, Elee Bisera and Korean Jung Jae Hyun shot identical 74s for joint seventh in the event sponsored by the MVP Sports Foundation and held as part of the PLDT Group National Amateur Tour.

Sean Ramos, winner of two tournaments last year, Carl Corpus, Paqo Barro and Kristoffer Arevalo hobbled with 75s to fall 10 strokes off the pace in the tournament organized and conducted by the National Golf Association of the Philippines and backed by Cignal, Metro Pacific and Cangolf.

A tight duel, however, marked hostilities in the distaff side with Chabon, Gabasa and Superal all churning out identical 37-38 cards, just one stroke ahead of Rafaela Singson and Rianne Malixi, who shot identical 76s.

Laia Barro stayed in early contention with a 77 with Bernice Olivarez-Ilas and Samantha Dizon both shooting identical 78s, and Laurea Duque and Arnie Taguines carding similar 79s.

orts

sMirror

Wednesday, February 13, 2019

SPANISH CONQUISTADOR S

PAIN’S Francisco Mancebo Perez of Matrix Powertag Japan bested all comers—including Filipinos Ronald Oranza of NavyStandard Insurance and Dominic Perez of 7-Eleven Cliqq-Air21 by Roadbike Philippines—to rule the LBC Ronda Pilipinas 2019 that ended in the quiet and serene town of Pandan, Antique, on Tuesday.

Perez, 42, stuck with Oranza and Perez almost all throughout the 148.9-kilometer fifth and final stage that started at the El Pueblo grounds in Roxas City and ended in front of the Pandan Bay Insitute before winding up at 50th in the stage, or 32 seconds off lap winner El Joshua Carino of Navy.

Carino, the 2018 Le Tour champion, bested reigning Tour de Langkawi champion Artem

SPAIN’S Francisco Mancebo Perez of Matrix Powertag Japan beats all comers in Ronda Pilipinas.

REGISTRATION ON

FOR CRITERIUM

R

EGISTRATION is now going on for the Second Anniversary Criterium Race organized by Bicycology Shop on February 24 at the C-5 Extension (Golden Haven) in Las Piñas City.

The race conceptualized for weekend road warriors is open but limited to 100 participants in all categories, such as 60-above, 50-59, 40-49 and 30-39 years old.

“First come, first served po. We try to maximize the number of participants to 100 per category,” said organizer John Garcia, co-owner of Bicycology Shop with Olympian swimmer Eric Buhain.

Entry fee is P100 per rider.

Garcia said interested cycling enthusiast can visit and registered at Bicycology Shop branches at President Avenue at BF Parañaque and Daanghari in Las Piñas.

Ovechkin and two-time Southeast Asian Games gold medalist Mohd Harrif Saleh of Terengganu to claim his first stage win of this International Cycling Union-sanctioned race.

All three checked in with identical times of three hours, 24 minutes and 37 seconds.

At the end of this five-stage race that unfurled in Iloilo City and threaded through Guimaras and Roxas City and finished in Antique, Mancebo, whose best Tour de France placing was fourth in 2005, emerged victorious with an aggregate time of 19:26:30 to claim his first title in a multistage race since topping the Tour of Egypt four years ago.

“I’m so happy it was over and we won,” said Mancebo. “The team, not just myself, worked

T

F

OCUSED on delivering the goods in the coming 30th Southeast Asian Games, the Philippine skateboarding team under the Go For Gold program will embark on a series of regional tryouts to discover the finest skaters in the country.

Skateboarding and roller sports President Monty Mendigoria announced recently that the search for the most talented Filipino skaters would kick off with the Luzon leg on March 16 and 17 in Iba, Zambales.

The best from the Visayas region will show up in Cebu City on April 6 and 7 where Asian Games gold medalist Margielyn Didal is expected to inspire the national team aspirants right in her hometown.

“We feel that Margie and the skateboarding team will become our bright lights in the 2020 Olympics, and hopefully they can bring home our first Olympic gold medal,’’ Go For Gold godfather Jeremy Go said.

The SEA Games qualifier is scheduled on August 24 and 25 in Santa Rosa, Laguna, after the most promising skaters from the south take center stage in the Mindanao leg on May 25 and 26 in General Santos City.

over the weekend at the University of the East and supervised by Rod Roque, the director in-charge for the men’s team.

“The two-day tryouts for the women’s national team was very good. All the players we were expecting arrived and attended the tryouts,” Cayco said.

“Now for the men’s volleyball team tryouts, the women looked miniscule because a total of 85 attended the tryouts for the men’s volleyball team. We’re very happy, the LVPI is very happy.” Judging by the number of players who showed up gives the volleyball federation the optimism of at least winning a medal in the volleyball

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

TATS ON A SPOT?

T

HE papers came out with a story just the other day about two former volleyball officials allegedly embezzling (read: stealing) some P6.4 million in association funds.

Ramon “Tats” Suzara and Donaldo Jose Caringal, the former president and treasurer, respectively, of the Philippine Superliga, are facing a case of qualified theft filed by incumbent PSL President Adrian Paolo Laurel.

In the complaint before the Taguig City prosecutor’s office, an excerpt of the 11-page brief read: “Since both respondents [Suzara and Caringal]...withdrew directly from the account of the corporation [PSL] without any valid authority, each of them abused [their] relationship with the [PSL].”

According to the Inquirer’s Marlon Ramos, the Department of Justice was furnished a copy of the complaint, which also read, in part: “They

of Ronda,” said Oranza.

Navy’s Jan Paul Morales (4:03 behind), the 2016 and 2017 Ronda titlist, ended up fourth while Matrix’s Sano Junya (4:21), Korail Korea’s Joo Daeyeong (4:26), 7-Eleven’s Irish Valenzuela (4:48), Army-Bicycology’s Mark Julius Bordeos (4:48), 7-Eleven’s Rustom Lim (4:56) and Navy’s Rudy Roque (5:42).

Mancebo’s Matrix squad also emerged as overall team classification winner with a total clocking of 58:31:36 ahead of 7-Eleven (00:12) and Navy (0:56).

Navy’s Junrey Navarra was overall points classification winner, 7-Eleven’s George Oconer the overall mountains classification and Go for Gold’s Ismael Grospe emerging the best under-23 rider.

SEARCH ON FOR TOP SKATEBOARDING BETS Aside from targeting the majority of the 16 gold medals at stake in skateboarding in the SEA Games that the Philippines is hosting from November 30 to December 11 in Clark, the national skaters are also training their sights on the 2020 Olympics in Tokyo, Japan.

“We will look for the best skaters in the regionals,” said Mendigoria, president of the Skateboarding and Roller Sports Association of the Philippines Inc. “The top 3 participants from the regionals will get the chance to prove their worth in the national SEA Games qualifying championship,” added Mendigoria, whose team found a very supportive godfather in Go For Gold Philippines.

Mendigoria has also organized a skateboarding judges seminar and accreditation examination to be conducted by skateboarding icon Warren Stuart on February 24 at Rufo’s Telus Building at Araneta Center, Cubao, Quezon City.

Skateboarding in the Philippines catapulted to instant fame when the 19-year-old Didal won the gold medal in the Asian Games last year in Indonesia. Didal is now busy preparing for a series of Olympic qualifying tournaments that will bring her to Tokyo.

HUGE TURNOUT IN NATIONAL VOLLEYBALL TRYOUTS

HE Larong Volleyball sa Pilipinas Inc. (LVPI) was all praised with the huge turnout for the men and women’s national team tryouts that the association hopes would translate to a podium finish in the 30th Southeast Asian Games.

LVPI President Peter Cayco said national coaches Shaq de los Santos (women’s) and Dante Alinsunurin (men’s) now have a “good problem” at their disposal in the wake of the large number of players who showed up and signified certified their intentions to play for flag and country.

Even more surprising was the attendance for the men’s squad held

hard to make this win happen, it was really team work.”

And Mancebo needed a dominating Stage One victory in Iloilo City to build a massive lead that he intelligently nursed all through out to fend off Filipino challengers Oranza and Perez, who tried and failed to catch up.

Oranza, last year’s Ronda king who turned 26 yesterday, wound up second and the best Filipino rider after he finished 3:20 behind Mancebo while Perez wound up at third, or just three seconds behind the feisty Navyman.

Oranza was just too happy to finish as the best local rider.

“I’m okay with the top Filipino rider award.

It still feels like I’m the back-to-back champion

[Suzara and Caringal] abused the high degree of confidence given to them through their positions in the corporation. Hence, the taking of the cash of the corporation was done with grave abuse of confidence.” Laurel cited three alleged checks, one worth P400,000 going to Suzara, and the other two worth P4 million and P2 million, respectively, released to Caringal.

I do not doubt the varacity of the reports, especially the one printed by the Inquirer (not because I had worked with the Inquirer for 20 years, the last seven as the paper’s sports editor).

“There is no board resolution authorizing the release of cash advances to any of the board of directors or officers of the corporation,” Laurel said. The charges are quite serious and must be addressed immediately by the respondents, especially in the case of Suzara.

A highly respected and a very influential

events of the SEA Games scheduled from November 30 to December 11.

“That’s a podium finish for the men’s and women’s,” declared Cayco at the Philippine Sportswriters Association Forum on Tuesday at the Tapa King at the Farmers Plaza in Cubao.

Cayco told the forum presented by San Miguel Corp., Tapa King, and the Philippine Amusement and Gaming Corp. that powerhouse Thailand, Indonesia and Vietnam will crowd the host country for the podium finish.

The last time a Philippine volleyball team won a medal in the SEA Games came in 2005 when the country also hosted the biennial meet.

figure in Philippine sports, having been a pillar in volleyball and credited much for triggering the resurgence of the sport the last decade or so, Suzara must come out immediately to clear his name.

Suzara’s current position as the executive director of the Philippine Southeast Asian Games Organizing Committee (Phisgoc) could be enormously compromised if he continues to remain silent amid cries for him to explain his case in public. The Phisgoc oversees the SEA Games to be held in the Philippines from November to December this year.

Of course, Suzara and Caringal are deemed innocent until proven guilty in court.

But prudence tells us, always, that a brewing storm must be immediately nipped in the bud before it gets overblown.

THAT’S IT Paquito Rivas deserves to be

conferred cycling’s Hall of Fame trophy in the coming Philippine Sportswriters Association Awards. His feats, especially his mountainclimbing prowess, are indeed legendary. But if only to remind my dear buddy, PSA President Dodo Catacutan, another biker also worthy of the award is sitting silently, watching from the sidelines. He’s none other than Jesus A. Garcia Jr., a three-time road-racing champion with classic victories in the fabled 1973 Tour of Luzon, 1977 Tour of PiCCA and the 1977 Marlboro Tour. He was a four-time Tour of Luzon runner-up to Jose Sumalde, Cornelio Padilla Jr., Samson Carino and Domingo Quilban. He skippered Pangasinan to a record six Tour team titles. Just a thought, Doods.

Thank you...And, yes, Happy Valentine’s Day, guys!

ASIAN Games gold medal winner Margielyn Didal is expected to inspire aspiring skateboarders.

C3

KINGS’ SPIKERS

IN QUARTERS

D

EFENDING champion Kings’ Montessori School (KMS) Team A made short work of Assumption College 25-4, 25-9 on Sunday to clinch a quarterfinals berth in the 18-Under Competitive Division of the 23rd Women’s Volleyball League at the Xavier School High School Gymnasium in San Juan.

KMS-A barely broke a sweat in the match that only lasted for 39 minutes to finish the eliminations with a 4-0 record in Group A and advance to the next phase.

Assumption College wound up winless at 0-4 slate in the tournament sponsored by Milo and supported

by Rain or Shine and Chris Sports.

Joining KMS-A in the quarterfinals is Colegio San Agustin Makati, which beat Immaculate Conception Academy, 26-24, 25-13, for a 3-1 card.

In Group B, San Antonio de Padua College (SAPC) downed OB Montessori Center, Greenhills 25-13, 2522, while Arellano University Team A (AU-A) edged Kings’ Montessori School Team B 25-20, 25-17. SAPC and AU-A gained quarterfinals slots with identical 2-1 records. Escuela de Sophia of Caloocan Inc. (4-0) and San Pedro Relocation Center National High School (3-1) also barged into the quarterfinals in Group C. Saint Scholastica’s College, Manila, (4-0) trounced University of Santo Tomas-Angelicum College, 25-17, 25-19, and Chiang Kai Shek College (3-1) whipped Immaculada Concepcion College, 25-15, 25-10, in Group D to advance to the last eight. The quarterfinal matches of the 18-U Competitive Division are set this Sunday in the same venue. Defending champion Holy Family School of Quezon City rolled past St. Scholastica’s College, Manila, 25-21, 25-18, in the 13-U Developmental Division and Immaculate Conception Academy drubbed Holy Family School of Quezon City 25-20, 25-8 in the 13-U Competitive Division.

In other matches, Colegio San Agustin Makati nipped Nuestra Senora de Guia Academy 25-27, 25-20, 16-14 in the 13-U Competitive Division and Arellano University Team B smothered Philippine Women’s University-Jose Abad Santos Memorial School 25-10, 25-3 in the 18-U Competitive Division.

C4

Sports BusinessMirror

Wednesday, February 13, 2019

www.businessmirror.com.ph

WESTBROOK, HARDEN LOOK UNSTOPPABLE O

KLAHOMA CITY—Chalk up another triple-double record for Russell Westbrook.

Westbrook set a National Basketball Association (NBA) record with his 10th straight triple-double, Paul George scored 47 points, and the Oklahoma City Thunder beat the Portland Trail Blazers, 120-111, on Monday night.

Westbrook broke a tie with Wilt Chamberlain, who had nine straight triple-doubles in 1968, by finishing with 21 points, 14 rebounds and 11 assists. Westbrook already was the only person to average a triple-double in consecutive seasons, and he set the single-season record for triple-doubles with 42 in 2016-2017.

He downplayed this record while still showing respect for Chamberlain. “I just go play the game the right way,” he said. “It’s what I do. Go out and compete every night and leave it on the floor, and whatever happens, happens. I’m very, very blessed to be able to go out and play, and I don’t take it for granted.”

Westbrook clinched the record on an assist to George for a three-pointer with 3:52 remaining in the fourth quarter.

“I thought he had it already,” George joked. “Usually, Russ has that by the first quarter. I didn’t know it was that close.”

It was Westbrook’s 23rd triple-double of the season and the 127th of his career. Most important to the Thunder, the team has a 9-1 record during his triple-double run.

“I do know the most important thing for him is to win,” Thunder Coach Billy Donovan said. “That’s what he’s about. He wants to win.

I think a lot of the things he does that he gets attention for in terms of the triple-doubles are things that impact winning for our team.”

George had 12 rebounds and 10 assists for the third triple-double of his career. Rookie Deonte Burton had a career-high 18 points and Raymond Felton added a season-high 15 for the Thunder.

Damian Lillard scored 31 points and Jake Layman added 17 for Portland. The Thunder shot 56 percent in the first half to lead 68-49 at the break. George scored 21 points and Felton added 15.

HARDEN STREAK HITS 30

THERE was only a little over a minute left in Houston’s game and it looked as if James Harden’s streak of 30-point games would be ending. Harden brought the ball down the court and was enveloped by two defenders near the three-point line, so he passed to Chris Paul, who drew the defense away. After a couple of dribbles Paul turned and got it back to Harden, who stepped back and sunk a three-pointer over Dorian Finney-Smith to keep the streak alive.

Harden scored 31 points for his 30th straight 30-point game despite dealing with a shoulder injury, leading the Rockets to a 120-104 victory over the Dallas Mavericks on Monday night.

Paul was asked if he was determined to help Harden extend the streak. “For sure. He had what 28, so yeah, why not? We was up,” Paul said. Harden, who had eight rebounds and seven assists, seemed to be a bit slowed early by the strained left shoulder that he injured on Saturday against Oklahoma City, making just one of his first seven shots. But he warmed up after that and finished nine of 23, capped by his sixth three-pointer with 52.9 seconds remaining.

Fans chanted “MVP! MVP!” after he sunk the shot.

Harden denied that he was concerned about getting 30 points, but he did say it was a “credit to” Paul that he got the ball back to him.

“I was worried about winning,” Harden said. “They were making their shots. They were coming back, cut the lead to I think 10 or nine points...so I just wanted to get the proper shots... I was just trying to make the right play.”

He’s now just one game from tying Wilt Chamberlain for the second-longest streak of 30-point games in NBA history. Chamberlain also holds the top 30-point game streak with 65 in a row. AP

RUSSEL WESTBROOK sets new triple-double record. AP

JAPANESE SWIM RIKAKO IKEE is diagnosed with leukemia less than 18 months before the Olympics in Tokyo. AP

STAR FALLS ILL T

OKYO—Japanese swimming star Rikako Ikee has been diagnosed with leukemia less than 18 months before the Olympics in Tokyo.

The 18-year-old Ikee won six gold medals at the Asian Games in Jakarta last year and was tipped to be one of the faces of the 2020 Olympics in her home country.

She posted on her verified Twitter account on Tuesday that her illness surfaced when she got tests after returning from a training trip to Australia.

She says, “I still can’t believe it, and I am in a state of confusion.”

Ikee expressed hopes for recovery but acknowledged she could not compete for a while “I will take some days off for now and focus on my treatment to do my utmost so that I can show you as soon as possible an even more powerful Rikako Ikee,” she said.

Maximilian Reinelt, an Olympic gold medalist rower from Germany who was a longtime member of the country’s successful men’s eights crew, meanwhile, has died. He was 30.

Police in the Swiss canton (state) of Graubuenden said Reinelt collapsed while cross-country skiing in St. Moritz over the weekend.

The cause of death was not announced.

Reinelt won Olympic gold at the 2012 London Games and silver four years later in Rio de Janeiro.

The German rowing federation said Reinelt ended his competitive career after the 2016 Olympics to complete his medical studies, and was soon to work as a team doctor with a German under-23 squad.

Reinelt also won two world championship gold medals and multiple European titles.

South Korea has chosen its capital, Seoul, for its bid for the 2032 Summer Olympics, which it hopes to jointly host with rival North Korea as a peace gesture.

South Korea’s Olympic committee announced the decision after a meeting on Monday in which Seoul received 34 of 49 votes, edging out the southern port city of Busan.

The Koreas are expected to officially inform the International Olympic Committee of their intent to cohost the 2032 Olympics on Friday during a meeting in Lausanne, Switzerland. While North Korea has yet to formally announce its candidate city for the Olympics, its capital, Pyongyang, is seen as the obvious choice because it’s much more developed than other North Korean cities.

While Monday’s decision by the South Korean Olympic committee needs approval from the country’s sports and finance ministries, that is seen as a formality since the government has described the 2032 Games as a crucial opportunity to stabilize relations with North Korea.

Following a meeting of their leaders in September, the rival Koreas agreed to pursue a joint bid for the 2032 Olympics and also send combined teams to the 2020 Tokyo Summer Games, among other steps to promote reconciliation.

“Seoul will cooperate with the national government so that the 2032 Summer Olympics become something more than a sports festival—an opportunity to change the fate of the Korean Peninsula,” Seoul Mayor Park Won-soon said in a statement.

Currently, it would be extremely difficult to host the Olympics in North Korea because of heavy US-led sanctions against the North which are unlikely to be removed until it takes firmer steps toward relinquishing its nuclear weapons. There continue to be doubts whether North Korean leader Kim Jong Un is willing to deal away an arsenal he may see as his strongest guarantee of survival.

There is also declining public support among South Koreans for hosting large sports events due to worries over huge costs. AP

Osaka splits with coach 2 weeks after 2nd title N

AOMI OSAKA surprisingly split from Coach Sascha Bajin, a little more than two weeks after she won the Australian Open for a second consecutive Grand Slam title and moved to No. 1 in the Women’s Tennis Association (WTA) rankings.

“Hey everyone, I will no longer be working together with Sascha,” Osaka posted on Twitter on Monday. “I thank him for his work and wish him all the best in the future.”

Osaka’s agent confirmed to The Associated Press that Osaka would no longer be working with Bajin, the 2018 WTA Coach of the Year, but said there would be no further comment.

Less than a half-hour after Osaka’s tweet, Bajin responded to her on Twitter. He thanked her and wrote: “I wish you nothing but the best, as well. What a ride that was. Thank you for letting me be part of this.”

Osaka hired Bajin before the 2018 season. He previously worked with Serena Williams, Victoria Azarenka and Caroline Wozniacki.

Osaka withdrew from this week’s Qatar Open, citing a back injury.

The 21-year-old beat Petra Kvitova in three sets in the Australian Open final on January 26. That added to her championship at the US Open last September, when she defeated Serena Williams in straight sets.

Those back-to-back victories made Osaka the first woman to win two major championships in a row since Williams picked up four straight in 2014-2015.

Osaka became the youngest woman to make her debut at No. 1 since Wozniacki at 20 in 2010 and the first tennis player from Asia to reach the top of the women’s or men’s tennis rankings.

She was born in Japan—her mother is Japanese, her father is Haitian—and moved to the United States when she was three. She has dual citizenship and now is based in Florida. AP

NAOMI OSAKA talks to her coach, Sascha Bajin, during her semifinal match against Lesia Tsurenko at the Brisbane International in Brisbane, Australia, early last month. AP

D

God of love

EAR God of love, Your mercy and fidelity are everlasting. In confidence we pray: Oh God in Your goodness, come to our aid. Shatter our idols; heal our addictions and fix our hearts on Your faithful love. Guide pregnant women to find health care and support. Rescue those who are entrapped by human trafficking and help us end all forms of abuse. May God put a song of praise in our mouth and joy in our heart through Jesus, the righteous son of God. 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

SUI GENERIS: BEFRIENDING STRESS? YES, YOU CAN— AND SHOULD D4

Wednesday, February 13, 2019

SECURITY FIRM WARNS OF MORE SOPHISTICATED CYBER SECURITY THREATS

Spotify takes a big jump into the podcasting game N

By Mae anDerSon The Associated Press

EW YORK—Spotify is making a bigger bet on podcasts as it looks to bring a Netflixlike model of original programs to the audio world. The music-streaming pioneer gobbled up two podcasting companies, Gimlet and Anchor, on Wednesday.

Although streaming is becoming an increasingly popular way to listen to music, Spotify and other services such as Pandora have struggled to make money because of the royalties and other fees that they have to pay recording labels, songwriters and performers. The acquisitions are about “expanding our mission from just being about music to being about all of audio and being the world’s leading audio platform,” CEO Daniel Ek said in an interview on CNBC on Wednesday.

The company didn’t disclose terms, but The Wall Street Journal cited people familiar with the transactions as saying Anchor, a podcast production and hosting platform, was valued at more than $150 million and Gimlet at more than $200 million. Gimlet produces high-end podcasts and was cofounded by Alex Blumberg, a veteran of the NPR radio show “This American Life.”

Spotify, which is based in Stockholm and went public in April 2018 , charges $10 a month for its “premium” ad-free music service. It also offers a free ad-supported service.

Apple has become Spotify’s primary rival since the tech giant launched its own music streaming service in 2015. But although it has been outgunned financially, Spotify has been able to stay a step ahead of Apple in terms of subscribers. It counted 96 million subscribers in the fourth quarter, up 36 percent from a year ago.

Meanwhile, Apple’s music-streaming service has more than 50 million subscribers, according to CEO Tim Cook. Pandora, YouTube, IHeartRadio, Google, Amazon and others also offer music streaming and podcasts. In a blog post on Wednesday, Ek said that Spotify has become the second-biggest podcasting platform in less than two years.

“The format is really evolving and while podcasting is still a relatively small business today, I see incredible growth potential for the space and for Spotify in particular,” he wrote.

There are many ways to listen to most podcasts— among them, streaming services, downloads and podcast-specific apps like Castbox and Stitcher for Podcasts. It wasn’t clear if Spotify will distribute its new podcasts exclusively, make them widely available, or choose some intermediate step such as allowing other services to distribute them following a window of Spotify exclusivity. Spotify did not return a request for comment.

Spotify is seeking ways to become sustainably profitable. The company reported a surprise fourthquarter profit on Wednesday, boosted by a strong holiday season and a promotion with Google Home.

But it forecast a loss for 2019 even as it continues to invest in original content.

Spotify has already produced some original podcasts, including one series with comedian Amy Schumer and another with rapper and broadcaster Joe Budden. Ek said people who listen to podcasts through Spotify spend twice as much time on the service than other users. Spotify is hoping to emulate Netflix, which has poured billions into developing original shows and movies. So far, that strategy has produced some hits such as the series Stranger Things and the thriller Bird Box. The podcast industry is much smaller but growing.

Podcasts broke into the mainstream with the success of Serial, a 2014 investigative journalism series about a murder that became a cultural phenomenon, yielding not just tens of millions of downloads, but eventually also a new trial for the convicted killer.

US podcast ad revenue jumped 86 percent in 2017 to $314 million, according to research from the Interactive Ad Bureau and PriceWaterhouseCoopers.

That’s dwarfed by digital video ad spending, which totaled $11.9 billion in 2017.

An estimated 73 million people tune in to some form of podcast on a monthly basis, according to Edison Research. They’re particularly popular with the coveted “millennial” demographic.

The deals are expected to close in the first quarter. And Ek said the company is not done with acquisitions. Spotify plans to spend $400 million to $500 million on acquisitions in 2019. n

Germany to Facebook: Stop forcing users to share their data BERLIN—Facebook is pushing back against a German ruling that could make it harder for the company to combine data from all the services it runs in order to target ads even more precisely.

Thursday’s ruling, though aimed at current practices, hints at potential troubles ahead if Facebook follows through with plans to integrate the messaging functions of WhatsApp, Instagram and Messenger as early as next year.

German antitrust authorities ruled on Thursday that Facebook was exploiting its dominance in social media to force users to share data from other Facebook-owned services like WhatsApp and Instagram, as well as third-party web sites through the

“Like” and “Share” buttons.

The Federal Cartel Office, or Bundeskartellamt, isn’t contesting Facebook’s use of customer data to target ads on the main Facebook service. Rather, the ruling said Facebook should have to get permission separately before using customer data from other apps and web sites to do so. Facebook said it would appeal.

The company currently collects data on users’ activities on Facebook and the other apps it owns, along with third-party web sites. So, what someone views, likes or shares on Instagram—or the broader Web—could be used to show that person an ad on Facebook.

Facebook also has been moving to

further integrate WhatsApp and Instagram into its main service after initially promising to keep both as stand-alone companies when it bought them.

Privacy attorney Scott Vernick said he expects the integration plans to draw regulatory scrutiny, particularly in Europe.

That’s because of Facebook’s promises that it would keep the companies separate when it bought Instagram in 2012 and WhatsApp in 2014. WhatsApp’s founders quit the company over disagreements about user privacy. “There is a high chance for antitrust concerns, as well as those over how user data is collected and used,” Vernick said.

There are also worries that Facebook could build deeper profiles, such as by

linking phone numbers to real-life identities, he added. Facebook doesn’t require users to add their phone number, but WhatsApp is generally used with phone numbers.

Between the two, Facebook gets more data.

In ruling that Facebook was a “dominant company,” the Cartel Office said it was subject to “special obligations under competition law” and “must take into account that Facebook users practically cannot switch to other social networks.”

“The only choice the user has is either to accept the comprehensive combination of data or to refrain from using the social network,” it said in its judgment. “In such a difficult situation, the user’s choice cannot be referred to as voluntary consent.” AP

D1

A GLOBAL leader in cyber security solutions, Trend Micro (www.trendmicro.com) shared its 2019 predictions report that highlights the trends and tactics cybercriminals are most likely to employ this year. The report, titled “Mapping the Future: Dealing with Pervasive and Persistent Threats,” highlights the growing threats faced by consumers and organizations that are exacerbated by an increasingly connected world. The report warns that attackers will heighten the effectiveness of proven attack methods by adding more sophisticated elements to take advantage of the changing technology landscape.

“Cybercriminals will continue to follow a winning formula—exploit existing flaws, social engineering and stolen credentials—to drive profits,” said Ian Felipe, country manager for Trend Micro Philippines. “As corporate attacks surface and unknown cyber threats increase, it’s more important than ever for organizations to put more resources behind cyber security education to help protect against these growing attacks.” n E-CELEB ACCOUNTS WILL BE ABUSED IN WATERING HOLE ATTACKS. The role of social engineering in successful attacks against businesses and individuals is predicted to increase throughout the year. It is expected that cybercriminals will compromise famous YouTubers and other “online-famous” personalities’ social-media accounts by taking over their accounts through targeted phishing attacks. These will bring the focus on account security in mainstream media, but not before millions of users following these accounts have been affected by whatever payload the attackers have in store for them. Filipinos spend an average of three hours and 57 minutes a day on social-media sites. n SEXTORTION CASES WILL RISE. The process forcibly demanding money or sexual favors by threatening to publish a victim’s recorded sexual activity, sextortion is a growing epidemic in the Philippines, with the country being seen as one of the crime’s biggest breeding ground. Even if there is no guarantee that a blackmailer will come through, the highly personal nature of this kind of attacks will make the victim seriously consider fulfilling the attacker’s demands, whether through money or sexual favors. As sextortion becomes more widespread, this kind of attacks will affect, and perhaps even claim, more lives in 2019. n FAKE NEWS WILL CONTINUE TO PROLIFERATE. The 2018 Pulse Asia Research shares that 9 out of 10 Filipinos who access their social-media accounts are aware of fake news. Despite this awareness, the side of technology that allows fake news propagators to sway public sentiment has become even more powerful, which leads to governments expressing interest in regulating social-media platforms.

House Bill 5021, in particular, or the proposed Social Media Regulation Act of 2017, aims for social-media accounts to be subjected to identity verification to confirm authenticity. Trend Micro believes that this year, the improvements social media has made to fight fake news will not be enough to keep up with the deluge of cyber propaganda. n MORE CLOUD-RELATED SOFTWARE VULNERABILITIES WILL BE DISCOVERED. Trend Micro also predicts attackers will leverage on proven technological methods against the growing cloud adoption. According to the Cloud Readiness Index 2018, the Philippines is among the countries lagging behind in cloud infrastructure and yet to mature in terms of cloud adoption. It is generally perceived that transitioning to the cloud makes users more prone to security breaches and attacks. Vulnerabilities found in cloud infrastructure, such as containers, and weak cloud security measures will allow greater exploitation of accounts for cryptocurrency mining, leading to more damaging breaches due to misconfigured systems. n HIGHLY TARGETED ATTACKS WILL BEGIN USING AI-POWERED TECHNIQUES. Attackers will also implement emerging technologies like artificial intelligence to better anticipate movements of top-level executives. They can use AI to determine when and where corporate executives are expected to be in the future, such as the hotels their companies typically book them in, the restaurants they pick for meetings and other preferences that can help narrow down their next likely locations. This will lead to more convincing targeted phishing messages, which can be critical to BEC attacks. Additionally, it is likely that BEC attacks will target more employees who report to C-level executives, resulting in continued global losses.

The threat landscape promises a lot of challenges for almost all sectors of the Internet-using public in 2019 even as faster Internet, for better or worse, looms in the horizon.

But available tools and technologies should empower users and enterprises into positioning themselves more securely in the fight against cybercriminals and other emerging threat actors. A deep understanding of these issues is a step in the right direction.

D2

Wednesday, February 13, 2019

Pet Corner BusinessMirror

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Mena Suvari, 40; Kelly Hu, 51; Peter Gabriel, 69; Stockard Channing, 75.

HAPPY BIRTHDAY: Don’t mince words. If you have something to say, spit it out. Be direct to avoid giving the wrong impression. How you handle others and the way you relate and share information will make a difference in whether you achieve your goals. Don’t let your emotions take over or interfere in doing what’s right or best for yourself. Your lucky numbers are 4, 10, 16, 24, 31, 35, 46.

a

ARIES (March 21-April 19): Consider what you are doing and what you want to be doing, and look for a way to make the adjustment.

Discuss your plans with whoever will be affected by the decision you make, and prepare to move forward.

HHHH

b

TAURUS (April 20-May 20): Discipline and hard work will pay off. Set your sights on what you want to achieve and take action.

Make personal and professional improvements your targets. Talking to individuals who can help you make your dreams come true will pay off. HHH

c ELSA, the multiawarded 10-month-old Yorkshire Terrier, together with Nina, the multiawarded Pomeranian with owner Svetlana Mironenko and her Best in Show ribbon.

BULL Terrier Whiskey, who won several prizes, posed for a photo with his owners.

GEMINI (May 21-June 20): Emotions will surface when dealing with matters that can affect the way you earn your living. A change you make should be geared toward adding to your qualifications. Keeping up with the times will determine your fate. HHH

d Asia’s biggest dog show names Pomeranian, Yorkshire and Bull e Terriers among 2019 winners

CANCER (June 21-July 22): Share your thoughts and intentions. Your descriptive way of explaining your plans will make it difficult for others to resist wanting to come along for the ride.

A partnership will take on a deeper meaning, and romance will improve your personal life. HHH LEO (July 23-Aug. 22): Opportunity knocks. Get out and do things that will bring you in contact with interesting people. The information you pick up will help you bring about the changes you want to make. Professional options look promising. Negotiate on your own behalf. HHHH

By Pauline Joy M. Gutierrez

A

SIA’S biggest canine event, Philippine Circuit 2019, concluded with 586 registered entries from different delegations from the Philippines, South Korea, Japan, Italy, China and Thailand. The show also named 10-month-old Yorkshire Terrier Elsa and two-year-old Pomeranian Nina winners in the Best in Show category, among others. Meanwhile, Whiskey, a young Bull Terrier, won several Best Junior in Group accolades.

The exclusive showcase organized by the Philippine Canine Club Inc. (PCCI) was held just last month at the Smart Araneta Coliseum for the fourth straight year. As with previous iterations, it drew the best among purebred dogs from the country and other parts of the globe.

In an e-mail interview with BusinessMirror, Augusto Benedicto “Dinky” Santos III, president of the PCCI, said, “The Philippine Circuit started in 2011 and it has been getting bigger each year. There are thousands of dog shows all over the world under the auspices of the FCI [Fédération Cynologique Internationale], and this is probably one [of] the most well-attended shows annually.”

Santos added that the Shih Tzu are still among the more popular dogs in the show, while the Welsh Corgi Pembrokes increased in popularity. The breed with the most entries this year is the Pomeranian, followed by the Siberian Husky.

There were nine entries of the Black and Harlequin Great Danes, and six of the Fawn and Brindle. For the small dog categories, there were 10 Miniature Pinscher entries that competed, while there were 15 entries for Dachshund, divided among Miniatures, Standards and Rabbits.

Then there were fluffy Golden Retrievers,

Samoyeds and Labradors, as well as well-groomed Pekingese and gentle poodles. Rare breeds, such as the Bichon Frise, Affenpinscher, Caucasian Shepherds and Pharaoh Hounds, also graced the Big Dome.

The participating dogs competed in 12 All-Breed shows for four days, and were judged according to their appearance and performance based on their respective breed standards by jurors from Asia, Europe and the Americas. “We invited around 16 to 18 judges for the circuit. These judges are handpicked from all over the world and all of them are famous personalities in the [international canine scene]. As an organizer, the shows are only as good as the judges invited. So, we make sure we invite only the very best, the crème of the crop.” Santos added, “The system we use is the same as what is used abroad, so when foreign exhibitors come to join our shows, and vice versa, they are familiar with it.”

In 2018 the Labrador Retriever named Sunshadow Black Tie Affair a.k.a. Chicco was one of the most awarded Philippine-bred dogs. This year, the spotlight shone on 10-month-old Yorkshire Terrier Elsa and two-year-old Pomeranian Nina, who both won Best in Show. Russian dog owner Svetlana Mironenko was delighted about Nina’s recent accomplishment: “It’s not the first time that she won [the award]. She’s gone around the world and she’s been a champion already.

She has won in many countries. She started when she was just a puppy.”

Mironenko said she participated in the first PCCI show in the country eight years ago. “Every year my dogs compete here. If I don’t come, my dogs still go here,” she added.

According to Santos, while most of the winners were from overseas, there is still plenty of hope for locally bred dogs as they continue to step up to international standards with each passing event.

Healthy competition also allows room for growth.

He said, “The English Bulldog that won many Bests in Show this year was the 3rd Best in Show at the 2018 World Dog Show in Amsterdam. The Medium Poodle was also a big winner in Amsterdam and has been the World Winner three years in a row. Many other dogs that joined are world winners, and the quality of the exhibits continues to get better each year.”

When asked about how he and the PCCI are able to pull off an event this big year after year, Santos noted they formed the Philippine Circuit to be exhibitororiented: “Why do exhibitors from all over the world come to our show? It’s because we are the only kennel club in the world who does all their paperwork, picks them up and drops them off at the airport, and we always make sure that their stay is alright, without any problems.”

He added: “It’s not easy fixing all the documents, speaking to the appropriate government offices, and shuttling exhibitors and dogs to the hotel from the airport. We have hundreds of dogs and their owners arriving within the three days before the show, and I still am amazed that we can pull this off all together.”

Holding the show at the Smart Araneta Coliseum also proved advantageous for the group, since the Araneta Center established pet-friendly regulations in 2018 through its successful Pet Pals program. Santos shared, “[The management] has been good to us. They have been helping us. This year, we have more rings, which make the show shorter and faster.”

With regard to the ongoing projects of the PCCI, Santos said in conclusion: “We do plan to educate our members more on animal welfare. Sad to say, we still have many people who don’t treat their dogs the right way and so this has become a concern. Dogs are the best companions; they always try to make us happy, no matter what. They are so excited to see us and be with us. They give us everything they have and they deserve to be treated the same way.” n

f

VIRGO (Aug. 23-Sept. 22): Mingle more or spend quality time with someone you love or respect. What you gain through interactions with forward-thinking people will lead to positive changes that will alleviate stress and give you something to look forward to. HH

g

LIBRA (Sept. 23-Oct. 22): Think twice before you get into a spat with someone close to you. Anger and arguments will not solve problems. Honesty and peaceful solutions will.

Show compassion and respect for others’ opinions, and expect the same in return. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Share your ideas with someone you love, and good plans will transpire. A unique change can be made that will improve how or where you live. A short trip or research will jump-start your next adventure. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Be a participant, but protect against insult or injury.

You have what it takes to win on your own.

Don’t trust others to take care of your business or to protect you from loss. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Look beyond what’s happening in the present and plan for the future with optimism. Change is required in order to find the freedom you need to take on something new and exciting. HHHHH

k

AQUARIUS (Jan. 20-Feb. 18): Keep an open mind when dealing with friends, relatives and emotional matters. Try to be objective and to offer suggestions that are doable. A change of pace will help you look, do and be your best in professional situations. HHHHH

l

PISCES (Feb. 19-March 20): Trust will play a role in how others respond to you.

Be honest about the way you feel instead of being evasive for fear of getting hurt or hurting someone else. Truth matters and must be upheld. HH BIRTHDAY BABY: You are insightful, original and kind.

You are a dreamer and an achiever.

‘relatively speaking’ BY ZHOUQIN BURNIKEL The Universal Crossword/Edited by David Steinberg

ACROSS 1 Loud kiss 6 Razed, with “down” 10 Houston slugger, to fans 14 “You there?”

15 Heroic saga 16 “That was close!”

17 *“Later, Jose!”

19 Theme park feature 20 Yoga pads 21 Hindu in The Simpsons 22 Tadpoles’ homes 23 *Mona Lisa locale 27 Intentional jeans tear 28 Marriage-related 31 Sheer delight 33 Golfer Mickelson 35 Hair salon sound 36 Melber of MSNBC 37 *Distribute 40 QB Brett Favre’s 508 41 Gyro meat 43 Goldie of Private Benjamin 44 “Anything ___?”

46 Essayist Ralph Waldo

8 Beats headphones Dr. 4 49 *Nursery rhyme with a candlestick 54 “Deal with it!”

56 Doctor’s charge 57 Is home sick 59 Not a copy: Abbr.

60 Succeeds (or fails) at finding the names hidden in the starred answers?

63 Pepper spray relative 64 Hairless 65 Finnish cell phone maker 66 Ran in the wash 67 Meets with 68 Beginning stage DOWN 1 Total fraud 2 Navy Cross or Silver Star 3 Justice Samuel 4 Sense of finality 5 Winning punches, briefly 6 ASU city 7 Poppy drug 8 Fix, as a match 9 ___-bag (“green” tote)

0 Edible shoots 1 11 Classic Girl Scout cookies 12 Fantastic Mr. Foxx 13 Has to pay back 18 Seniors’ group 22 Get-up-and-go 24 Was in a contest 25 Strike organizer 26 Cho’s Star Trek role 29 Senate intern, e.g.

30 Vinyl platters 31 Tiny weight 32 Mojito ingredient 33 Backup strategy 34 Chop down 36 Lager alternative 38 “Now I get it” 39 Six years, for a senator 42 Blew one’s own horn 45 Israel neighbor 47 MIT or UCLA 48 Conks out 50 Paperless IRS return 51 Has to have 52 Enjoys a lollipop

3 British singer Goulding 5 54 Mummy’s place 55 Taken by mouth 58 Airline reservation 60 Elementary network 61 Norma ___ (1979 film) 62 Numero ___

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

BRANDI CARLILE

DUA LIPA

H.E.R.

Wednesday, February 13, 2019

KACEY MUSGRAVES

Rap artists and women take center stage at Grammy Awards L

By David Bauder The Associated Press

OS ANGELES—Rap artists and women have felt shunned by the Grammy Awards in recent years. But this year, they both took center stage.

Childish Gambino’s disturbing look at race relations, “This is America,” won record and song of the year on Sunday’s telecast. It was the first time a rap-based song won both of those awards, considered—with album of the year—the recording industry’s most prestigious.

Kacey Musgraves won top album and matched Childish Gambino with four Grammys total. A year after many women felt left out of the Grammy telecast, they delivered the night’s most memorable performances. The best new artist winner, British singer Dua Lipa, also cast major shade on the outgoing recording academy president.

Lady Gaga and Brandi Carlile won three Grammys apiece, and former first lady Michelle Obama was a surprise guest at the top of the show on CBS. Childish Gambino, the stage name of actor Donald Glover, and another prominent rap nominee, Kendrick Lamar, both declined invitations to perform or attend Sunday’s show. Some rap artists feel the Grammys have been slow to recognize how the genre now dominates popular music.

Ludwig Goransson, a songwriter and producer on “This is America,” said backstage that he was surprised the victories were so historic. Just listening to the radio, watching the culture and seeing how many rap songs are downloaded is evidence of rap’s impact. “It’s about time something like this happened with the Grammys, as well,” Goransson said.

Cardi B became the first solo woman to win best rap album, although Lauryn Hill was the lead singer of the Fugees, which won the same award at the 1997 Grammys. Cardi B was so nervous accepting the award that she joked, “Maybe I need to start smoking weed.” She looked anything but rattled earlier, when her rendition of “Money” was among the night’s

performance highlights. Janelle Monae delivered a smoking version of her hit “Make Me Feel”; St. Vincent and Dua Lipa’s duet on “Masseduction” was steamy; H.E.R. turned heads with “Hard Place”; and Carlile sang an inspired version of her hit “The Joke.”

Being part of a big night for women was huge to her, Carlile said backstage after the show.

“I’m a kid from the 1990s and Lilith Fair, you know, and those women were just dominating those platforms,” she said.

“They were dominating those arena and amphitheater stages. They were getting record deals.

They were becoming record executives themselves.

They completely controlled the airwaves. They were on the radio. And to watch that backslide for the last 20 years has been heartbreaking. Tonight, it gives me hope as a mother of two young daughters.”

When she accepted her best new artist award, Dua Lipa pointedly said, “I guess this year we really stepped up.”

That was a reference to outgoing Recording Academy CEO Neil Portnow, who said women needed to “step up” when he was asked about the lack of women in top categories in 2018. He later acknowledged it was a poor choice of words and delivered another mea culpa on Sunday’s show.

Yet, Dua Lipa was rewarded by having her acceptance speech cut off mid-sentence. She wasn’t alone, however, as a handful of other artists were also hustled off the stage, and the show seemed disjointed at the end, rushing through its final awards. Under the circumstances, having a lengthy tribute to Portnow before he gave his own speech seemed tone-deaf.

Lipa said later she would have thanked her fans, her inspirations and team if she had more time.

When she was onstage, Lipa was one of a handful of winners who paid special tribute to fellow artists.

Another was Drake, whose appearance to accept the Grammy when “God’s Plan” won best rap song was a surprise because he’s not big on award shows.

He reminded fans and fellow artists that awards are based on the subjective views of others, and aren’t

contests in which there are clear winners and losers.

“You’ve already won if you have people who are singing your songs word for word, if you’re a hero in your hometown. Look, if there are people who have regular jobs who are coming out in the rain and the snow, spending their hard-earned money to buy tickets to come to your shows, you don’t need this right here. I promise you. You already won,” he said at the Staples Center in Los Angeles.

Musgrave picked up album of the year for Golden Hour, which is labeled country but had wider appeal.

“I never dreamed that this record would be met with such love, such warmth, such positivity,” said Musgraves, who performed a stately version of her song “Rainbow.”

Dolly Parton starred in the best of the night’s two tributes to veteran artists, performing a medley of her songs with Miley Cyrus, Katy Perry and Maren Morris. The highlight of Diana Ross’ night was the cute introduction by a grandson with a mountain of hair. The Grammys took some online blowback by having Jennifer Lopez deliver a tribute to Motown, once the nation’s preeminent label for black artists.

Despite her hustle, Lopez was outshone by show host Alicia Keys and Smokey Robinson delivering one verse of “Tracks of My Tears” a capella.

Obama appeared on the show’s opening with Keys, Gaga, Lopez and Jada Pinkett Smith to describe the role music had played in their lives—seemingly a pointed reference to last year’s controversy over women artists.

“Music has always helped me tell my story,” Obama said. “Whether we like country or rap or rock, music helps us share ourselves. It allows us to hear one another.”

Another ex-White House resident was awarded a Grammy on Sunday. Former President Jimmy Carter, who is 94, won an award for best spoken word recording. It’s his second Grammy. n The Associated Press writers Mesfin Fekadu, Nekesa Mumbi Moody, Jonathan Landrum and Beth Harris contributed to this report.

GMA continues winning streak in nationwide TV ratings FOLLOWING its ratings success in 2018, leading broadcast company GMA continued to be the viewers’ top choice according to the latest data from the industry’s widely trusted ratings service provider Nielsen TV Audience Measurement.

For the first month of 2019 (with January 27 to 31 based on overnight data), the network posted an average total day people audience share of 37.8 percent in the National Urban Television Audience Measurement (Nutam), beating ABS-CBN’s 35.9 percent.

The network registered 34.8 percent people audience share in the morning block, as against competition’s 30.9 percent.

GMA similarly won in the afternoon block with 40.1 percent people audience share surpassing the 34.2 percent of its rival network. The network was consistently at the forefront of the ratings game in the viewer-rich areas of Urban Luzon and Mega Manila, which respectively account

for 72 and 60 percent of all urban viewers in the country.

GMA posted an average total day people audience share of 41.9 percent in Urban Luzon, which was way ahead of ABS-CBN’s 30.1 percent.

In Mega Manila, based on official data from January 1 to 26, the network tallied an even bigger margin with an average total day people audience share of 43.7 percent, versus competition’s 26.8 percent.

GMA shows, likewise, ruled in Nielsen’s Nutam list of top-rating programs for January with Kapuso Mo, Jessica Soho reigning supreme in the highly coveted No. 1 spot. It was followed

by Pepito Manaloto, 24 Oras, Daddy’s Gurl, Magpakailanman, Onanay, Daig Kayo ng Lola Ko and Studio 7.

Included in the list of ratings drivers for the month were Cain at Abel, Amazing Earth, 24 Oras Weekend, Wowowin, Imbestigador, My Golden Life, Eat

THE multiawarded Mel Tiangco hosts Magpakailanman, which remains hugely popular with TV viewers.

Bulaga and Tadhana.

GMA, likewise, took the lion’s share in both the Urban Luzon and Mega Manila lists, taking 8 and 9 spots out of the top 10 programs, respectively.

Meanwhile, GMA’s free TV airing of Manny Pacquiao’s fight against Adrien Broner on January 20 clearly dominated the competition.

GMA garnered a whopping 69.8 percent people audience share in Nutam, while its counterpart programs in ABS-CBN only got 13.2 percent.

TV5, which also aired the Pacquiao fight, only managed to get 10.7 percent.

Nielsen data is gathered through a greater number of sampled homes nationwide in comparison to Kantar Media. With approximately 900 more homes surveyed in Total Urban and Rural Philippines compared to Kantar, Nielsen data is statistically considered more representative of the total TV population.

BLIND SPOT BRUCE C.

OPINIONATED VIEWERS

POOR YouTube content creator? Yes, she owes her views to her fans and all her supporters but it must break her heart when they comment about her family, particularly her child. This content creator’s fans are quite brutal in pointing out her child’s developmental delays and what they see as his behavioral issues. It’s understandable if they are doctors and experts but they are not. The worst part is they really believe their comments are well-intentioned.

WELL-PAID

WHO is the host-influencer who will not get out of bed for anything that is not paid? It’s not that she is money-hungry or anything. The girl came from a family that is not too well-off and we understand that she needs to make a living. However, she wants to get paid even for an interview and a magazine photo shoot. Even the biggest stars don’t get paid for this. Surely she knows this? Surely she understands how the business works? Even makeup artists agree to do magazine shoots for free or for a very minimal amount in exchange for credits. It is not like her.

ARROGANT

THE young actor’s transfer to another network hardly caused a ripple, which is not surprising as despite coming from a showbiz and political clan, he is hardly a household name. The funny thing is the reason for his transfer. The young actor reportedly resented it that he had to audition for a role in his old network.

So he left without even informing them properly. It is funny that he resents the audition when, in fact, stars who are bigger than him do it without complaint. Let’s see what happens to the actor in his new network.

SINGER’S DILEMMA

THE singer is faced with a big problem. She has been with her boyfriend for several years and they are very happy. The boyfriend, who is also in show business, wants to propose to her but he is afraid that if and when they get married, the singer will be disowned by her family. As it is, their relationship has survived because of the singer’s defiance of her strict mother’s objections. So the relationship, despite being rock solid, is at a standstill. Marriage and having a family is the next logical step but the singer’s mother is having none of it.

D3

D4

Image BusinessMirror

Wednesday, February 13, 2019

www.businessmirror.com.ph

Bad review?

Owners should address online reviewers’ concerns

By JoyCe M. roSenBerG The Associated Press NEW YORK—Brad Schweig thought he had a satisfied customer when a woman who bought outdoor furniture in March 2017 posted a five-star review online. Less than a year later, it was down to one star after a squirrel chewed a hole in one of the cushions.

Many business owners have faced the same uncomfortable situation since the advent of online review sites—a negative review, out there for potential customers to see. Schweig, coowner of Sunnyland Furniture in Dallas, did what marketing experts recommend and tried to make amends in an online response.

“We apologized, and said, ‘We’d be glad to work with you on a replacement at discount,’” Schweig says. “We explained, ‘this can happen with nature.’”

Negative reviews are likely inevitable for many companies, especially those that cater to the public. Even a company whose customers are almost universally happy will be panned by someone who wound up with a defective product, or had a bad experience or misunderstood a situation. Marketing consultants and owners themselves say the best way to handle these reviews is to acknowledge that the customer is unhappy and offer to discuss the problem offline, either on the phone or via e-mail.

The malcontents who are easily angered and impossible to placate tend to be rare, says Ryan Goff, chief marketing officer at MGH, a marketing firm in Owings Mills, Maryland.

Most negative reviewers respond well if a company is sincere in trying to right a situation, he says.

“I would say, ‘We understand completely you had a negative experience,’” Goff says. The next step: “We are going to do everything in our power to address this, and we want a full understanding of what happened.” If the customer is eventually satisfied, owners should ask for an amended review, or to have the angry one deleted.

Schweig never heard back from the customer, whose review said the outdoor furniture “should withstand a squirrel.” But he believes his was the right response, not only for that customer, but also for potential buyers. “It might not make the reviewer change their mind but we know others are reading it and can see that we either care about resolving the issues, or it can make them realize the skewed ones aren’t as they seem,” he says.

Companies that post on social media need to be vigilant about checking for replies, and not just from unhappy customers, says Hank Yuloff, owner of Yuloff Creative Marketing Solutions in Sedona, Arizona.

“You have to scroll down and look at the comments being made and answer all. Even if they’re positive, say ‘Thank you’ and build relationships,” Yuloff says.

Some owners may encounter reviews they believe are libelous or false.

“If it’s outright slanderous and untrue, then you can reach out to the platform where the review was published and see if they’ll investigate it and potentially take it down. It could also be the basis for legal action,” says Rex Kimball, owner of marketing firm Mirex Marketing, based in Gilbert, Arizona.

Many of the negative reviews Todd Fetterly’s three mobile phone stores have received had nothing to do with the phones he sells. Instead, customers often are unhappy with phone service providers but vent at Fetterly and his staff. Still, Fetterly, whose Cell Phone Centre stores are in the Ottawa, Ontario, area, responds immediately.

“Because we are in such a commoditized market, customers have choices of where to go to purchase their devices,” he says.

Most reviewers don’t get back to Fetterly, so there’s no opportunity for their reviews to be amended or retracted. So, he works to counter the negative postings by encouraging happier customers to post reviews—staffers routinely ask them to give positive feedback online. The strategy also includes using a company that solicits reviews. If a review is negative, it’s not automatically posted; Fetterly can contact the customer and try to get it changed.

A negative review posted 10 years ago is still reverberating at Mary Nisi’s company, Toast & Jam, which supplies disc jockeys for weddings and other events. While the company has hundreds of five-star reviews on several web sites, Nisi still is asked about the customer who said Toast & Jam canceled less than a month before the wedding; Nisi says the couple never signed a contract or responded to her e-mails.

“The worst thing you can say about a wedding vendor is they canceled two weeks before,” says Nisi, who’s located in Chicago.

When couples ask about the review, she notes her ratings at or near five stars, and says, “if we canceled all the time, that would be coming out all the time in our reviews.”

Franchise companies must be proactive about bad reviews because a complaint about one location can have a negative impact on others. At Children’s Lighthouse, an early education company with 49 locations, the home office in Fort Worth, Texas, monitors and responds online to reviews for the entire chain.

“We apologize and say, ‘Please call the office. We’d like to talk to you directly,’” Marketing Director Monica Brown says.

If customers are satisfied after discussing the problem with staffers, the company asks if they’re willing to delete the review.

“Most of the time they do take it off,” Brown says. “It’s mostly that they want to be heard.”

Befriending stress?

Yes, you can–and should SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

S

O many things cause stress. As a leader, we are constantly bombarded by urgent requests and employee concerns which affect not only our productivity but also our mental health.

And the thing is, it is not only our work and our teammates which cause stress, but also other things that go on in our lives—be it personal or otherwise.

But one thing is certain, we all experience stress one way or another.

Stress is a feeling of emotional or physical tension.

This can be caused by a new job, requirements at work, issues in the family, or any other issues which make us feel pressure and strain. Stress is so prevalent, the World Health Organization calls it the health epidemic of the 21st century. There is simply no way of escaping stress.

Karl Albrecht in his book Stress and the Manager says there are four kinds of stress. The first one is called encounter stress and we experience this when we meet new people or a certain group of people.

The second one is called anticipatory stress, which involves anxieties about what could happen in our future. The third one is called situational stress, which is triggered by certain events that happen to us. And the last one is time stress, when we feel stressed because we are running out of time.

However you feel stressed, the effects of stress can be debilitating if not taken seriously. Aside from its effects on your productivity, stress can lead to sickness, low motivation and anxiety. It can lead to

feeling distracted, insecurity and even loss of sleep.

With all of these, we really cannot avoid stress. If we cannot avoid it, how then can we manage stress?

The first step in managing manage stress is to understand stress is not your enemy. A study in Wisconsin University showed that your perception of stress actually has a direct effect on your health.

One group which says they experience a lot of stress and perceive stress as their enemy has an increased 43 percent risk of dying based on public death records monitored over a period of eight years. The other group also experienced a lot of stress but saw it as a natural event in their lives. The results showed they had higher life expectancy. To this group, they saw stress as a motivator to prepare them for the challenge in front of them, and they did not let stress get in the way of what they needed to do. This group’s result was similar to a third group which said they experienced little stress in their lives. This teaches us one important thing about stress: how we perceive it has a direct impact on whether we will benefit from it, or if we will make it a hindrance to our success.

Do you know that sense of fulfillment after overcoming a challenge? That is the rush of dopamine in your system. Dopamine is also known as the happy hormone. This is the hormone responsible for making us feel pleasure and satisfaction, as well as see rewards and move toward them. That is why you feel ready for the next challenge immediately after completing one. It is not just adrenaline which keeps you moving; dopamine can get you there, too. And this hormone is released when overcoming a stressful challenge.

Another hormone which helps us during stressful situations is oxytocin. Kelly McGonigal is a famous health psychologist and lecturer at Stanford University who is better known for her TED talk video, titled Make Stress Your Friend. In her video, she talks about oxytocin, which is more popularly known as the trust hormone. If you have not heard of oxytocin, it is the hormone released when we hug someone and makes us crave for intimacy and physical contact with

our loved ones. What people do not know is it is also a stress hormone. Dr. Heidi Hanna, executive director of the American Institute of Stress, explains when we are faced with a stressful situation, our biological response is to surround ourselves with people who will support us. This just goes to show that stress is not necessarily a bad thing. It is our negative response to stress which debilitates us.

Once we understand how our view of stress is the problem and not stress itself, we are better equipped to manage it. Here are several things you can do to manage stress. First is to learn how to take breaks. It is perfectly okay to take breaks when in a stressful situation. You can take a walk or go to the office lounge just to clear your mind and give your mind a break.

This will keep you grounded and help you look at the challenge with fresh eyes.

Listen to relaxing music or play soothing background music to help alleviate a stressful situation. Music has a way of lowering blood pressure and calming the senses so you can focus more on a solution to the challenge you face.

To give you an instant push, you can eat a bit of chocolate. Chocolate helps the body release endorphins, which relax you and put you in a better mood to handle the challenge. Endorphin is another type of hormone which acts as an analgesic and reduces the feeling of pain. This, in turn, will help you focus more on ways to overcoming a challenge rather than worry about it. Another way to release endorphins is to have a good laugh. Laughter has so many benefits and it is no wonder it can also mitigate stress. For long-term effects, exercise goes a long way in ensuring your body regularly releases endorphins and is fit to face any challenge.

Knowing that stress is not the problem is the first step in managing it. After doing so, you can do a lot in ensuring stress propels you and gives you the needed energy to overcome whatever challenge you face. We all experience stress but knowing what to do when we encounter it makes the difference between succumbing to it or rising to the challenge. n

PHILAM LIFE SUPPORTS INITIATIVES FOR A MORE ACTIVE LIFESTYLE THE country’s premier life insurance company, Philam Life continuous its efforts in encouraging Filipinos to live a better life by taking part in the third season of the 7’s Football League.

Founded in 2018 by former Azkals player Anton del Rosario, the 7’s Football League encourages Filipinos to strive for a more active lifestyle through a fun game of football. The league also serves as an avenue for veteran football players to get together and pursue their passion for the sport, and ultimately show how it can actually be an exciting game.

“Supporting fitness-related events like the 7’s Football League is how Philam Life continues to walk the talk when it comes to its advocacy of helping people live healthier, longer and better lives,” said Bernadette Chincuanco, head of branding and communications for Philam Life.

The mechanics of the game are quite different from standard football. For 7’s, teams are only made

up of seven players competing at less than half the pitch with smaller goals. Games are also segmented every 15 minutes, making it a fast-paced and more exciting match.

“I have always believed in partnerships, especially when it comes to building CSR programs for the youth. The fact that we are on board Philam Life and AIA, a company that has an international influence when it comes to football, shows we are going in the right direction. They are not only creating dreams for the youth, but also fulfilling dreams for the players who never got the opportunity to play at the highest level. I hope this is the beginning of something that will last for a long time,” said Anton del Rosario.

The 7’s football games are being held at McKinley Hill Stadium every Sunday until May 19.

Admission is free, and gates will be open from 6 to 9 pm.

FROM left: Lianne Salcedo, Philam Life marketing manager; Anton del Rosario, head of the 7s Football League; Bernadette Chincuanco, Philam Life head of branding and communications; Leo Tan, Philam Life chief marketing officer; and Abbie Remo, Philam Life head of corporate communications and public relations.

Business

E2 Wednesday, February 13, 2019

INDUSTRIAL PARKS: NEXT WAVE OF REAL-ESTATE BOOM

the next years to come.” And AIEC is designed to pull foreign investments into the Philippines and drive global economic competitiveness.

The global interest in AIEC

A WORLD-CLASS industrial park in Mindanao benefits many stakeholders. For agricultural processors, an organized industrial park makes for an efficient business setup. Since AIEC is registered under the Peza,

locators also receive tax incentives.

The agro-industrial zone also represents income for the community.

Mindanao is home to almost onefourth of the Filipino population, so the industrial park means major job creation in the region. Being located in the food basket of the country means access to various types of agricultural produce. The Davao region is known to be the leading producer of bananas, pineapple, cacao and coconut. Local farmers can thus benefit as the park brings together ready buyers of harvest. For example, AIEC’s locators include a saba processor and a banana chip manufacturer. “In five years, AIEC will be a bustling community with 4,000 to 5,000 workers, a place for farmers to sell their produce, and a driver for growth in the region,” envisioned Lagdameo.

Moreover, AIEC’s developers are part of a conglomerate that has been doing business in Davao for almost 70 years. This places AIEC apart from other industrial parks in the Philippines and in direct competition with international counterparts. According to Lagdameo, “Foreign investors look at how easy it is to do business in a country before investing in it, as well as how secure it will be for

THERE is already demonstrable global interest in the premier agroindustrial zone. AIEC’s growing list of locators includes at least four nationalities—Filipino, Dutch, Chinese and American. Some notable locators include Del Monte Fresh Produce (stores packaging materials for their fresh fruit exports) and First Panabo Tropical Foods Inc. (processes frozen turon and saba for export). United Good Harvest (processes dried banana chips for export) is also set to begin its operations within the first quarter of this year.

“Most of our locators are involved one way or another in agribusiness. Aside from food processing, we signed on a pallet manufacturer that services the needs of plantations, a company that produces packaging material for fresh fruit exporters, and a foam manufacturer which supplies material for packaging, as well. We also seem to be at the positive end of the ongoing trade war between China and the US. A number of Chinese companies are setting up in AIEC in order to be able to continue exporting to the US from the Philippines” explained Lagdameo.

In total, 65 percent of AIEC’s first phase of lots and ready-built facilities have already been leased or sold. Currently, the park is receiving multiple inquiries for the remaining 4 out of the 15 ready-built facilities that have been established. Several more units will also be constructed this year to accommodate the demand.

“What we’ve seen on our end is that locators want to come in quickly.

Hence, we will be building our more ready-built facilities for locators to choose from.”

However, the current capacity represents only one of four phases of AIEC. In the next two years, AIEC will roll out two additional industrial phases and one commercial phase.

Plans to place a cold-storage facility are also in the works. With major expansion in the pipeline, AIEC will certainly serve as an international business gateway for Mindanao and the country.

Araneta Coliseum and New Frontier Theater that hold about 300 shows a year combined, it also has approximately 2,000 shopping and dining options in three existing malls, with the much-awaited Gateway Mall 2 will be completed by 2019.

In addition, Novotel Manila Araneta

Center and the soon-to-rise Ibis Styles Hotel offer nearly a thousand hotel rooms, and MICE-ready venues from ballrooms, function rooms, and outdoor venues.

Indeed, the Araneta Center Cyberpark addresses and emphasizes loca-

tion, accessibility and employee convenience, which are important factors when putting together the talent pool.

And, while the metropolis grows more crowded each year, the rise of this new business hub is the answer to this pressing problem.

Amor Maclang

FIRST DIBS IN REAL ESTATE

A

GRICULTURE is a key contributor to the Philippine economy. However, when compared to some of our Asian neighbors, our agricultural industry falls behind, especially in terms of quality processing, manufacturing and exportation.

For the Mindanao region, falling behind represents a huge untapped opportunity to advance the country’s agro-business sector. Mindanao is the country’s fruit basket after all.

The Davao region, specifically, is a

key exporter of various agricultural products such as banana, abaca and rubber.

With 16 percent of the 2019 national budget heading toward Mindanao, the government is clearly prep-

ANFLOCOR develops Mindanao’s premier agro-industrial zone

ping the south of the Philippines for economic growth. But how can the agro-business sector benefit from the growing Mindanao economy?

A premier agro-industrial park

FOR the Anflo Group of Cos., which includes Tagum Agricultural Development Cos., Inc. (Tadeco), Davao International Container Terminal (DICT), Pearl Farm Beach Resort and Damosa Land Inc., the solution is simple: enable access to and support the integration of agricultural materials and processes. The conglomerate is offering their solution through the newly developed Anflo Industrial Estate Corp., a premier agro-industrial ecozone in the Davao region. AIEC is a 63-hectare park that houses industrial lots and ready-built factories that international and local processors and manufacturers can either purchase or lease for five to 25 years.

“We received our Philippine Economic Zone Authority [Peza] accreditation by 2015 and started building the park itself in 2016,” said Ricardo Lagdameo, vice president for Anflo’s real-estate arm, Damosa Land Inc. “We felt that the economy was right and that it was necessary to diversify

the types of businesses in the region.

The Davao region is known for fresh fruit production and export, but today we believe that the heft of the growth opportunity will be in manufacturing, especially as this relates to agro-industrial manufacturing.”

AIEC is built and zoned to boost industrial development. Unlike many industrial parks in the country, AIEC is located within walking distance to an international container port. It is also only 40 minutes away from an international airport.

“We are providing a space that has complete infrastructure, security, unparalleled location and access to a world-class container terminal. We have also planned infrastructure for the future—wide roads, sewerage treatment facilities, 24/7 security and commercial amenities to service the workers in the park,” said Lagdameo.

Benefiting commerce, community and country

A new business district has risen

T

HE word is out—businesses are moving out of congested CBDs plagued with traffic woes and cramped office spaces, and are looking to the north of the metropolis for answers. The migration has galvanized the operations of global business-process outsourcing’s (BPOs) that have put emphasis on convenience for their employees—an important factor when putting together their talent pool.

The Araneta Center Cyberpark, the new business district that has risen in Quezon City, is a multibillion-peso IT park that has become the coveted business address. It is certified by the Philippine Export Zone Authority to give locators tax breaks and other government perks to spur their growth.

One such company to take advantage of this boom is the local office of Alorica, Inc., a global leader in customer experience solutions whose continued expansion in Asia can be seen in the projected 28,000 jobs the company will create in 2019, and the opening of new contact centers in Japan and the Philippines.

Alorica, which holds office within Araneta Center, moves into its new headquarters in Cyberpark 2 in Quezon

City It is the second high-tech tower to be opened in the new IT Park. With 33 levels of office space, and two floors of retail shops and three levels of parking, 100 percent backup power and VRV/ VRF air-conditioning systems, the towers answer the needs of companies like this for top-of-the-line facilities, large office floor plates, and relaxing leisure and lifestyle offering that boost performance and productivity.

Cyberpark 1 tower also has the same facilities and has been home to the biggest names in BPO space such as Sterling, Stellar, Genesys and 24/7 In Touch.

Cyberpark 3 is expected to be completed in 2020.

Establishments like Bank of Philippine Islands (BPI), 7-Eleven, Starbucks, Taco Bell, and Dairy Queen and others serve the thousands of employees working in Cyberpark 1.

For employee’s health and fitness, there are gyms, medical and dental clinics, and a salon that offer a number of services. Just a few blocks away, the iconic Ali Mall offers various banking and government services like the DFA, Land Transportation Office, Social Security System, Pag-IBIG, PhilPost and many others.

A bustling hub for the BPO community

THE Araneta Center is key to the BPO expansion in Quezon City. Aside from its enviable location in the heart of Metro Manila, the Center is a multimodal transport hub that offers a thriving community espousing a live, work and play mantra. Today, of the more than 40,000 work force in the Center, 10,000 are BPO agents—some of whom hold office in the 31-story high-tech office building Gateway Tower like Accenture, AIG, TeleTech, and Regus.

Convenience for both employers and employee is the Araneta Center’s biggest offering. Just a short walk away, Gateway Tower is connected to the Gateway Mall, and gives convenient commuter access to the LRT 2 along Aurora Boulevard, and MRT 3 along Edsa via Farmers Plaza.

The mixed-use commercial district is a master-planned community that caters to all aspect of living. The multifaceted Araneta Center offers the live, work, play experience to both company executives and employees. Manhattan Garden City, a modern residential complex, has risen within the Center that will have 18 towers upon its completion.

Aside from having the iconic Smart

sMirror

Wednesday, February 13, 2019 E3

COMMON GROUND ALL SET TO OPEN ITS SECOND COWORKING SPACE

By Roderick L. Abad

M

@rodrik_28

ALAYSIA-BASED Common Ground is expanding further its footprints in the Philippines with the upcoming official launch of its second site, which houses 214 seats, bringing its total shared office space in the country to more than 500.

“The Philippine market is, I think, a priority for Common Ground if you look at the size of the economy and how robust the real-estate segment is,” Common Ground Philippines Director Enrique Gonzales told reporters recently during their press briefing held at the IBP Tower, Ortigas Center in Pasig City. “So I think there’s a long-term commitment truly built out of this brand in this country.

The coworking space operator first opened in the country—and outside of Malaysia—on November 21, 2018. Its pioneering venue is seated on the Penthouse of ArthaLand Century Pacific Tower in Bonfacio Global City, with about 320 seats catered to both start-ups and even established firms.

Seeing that the property sector constantly enjoys strong fundamentals with a growing preference toward flexible office solutions and coworking environments, it took only three months for Common Ground to put up another facility in Metro Manila.

“I think coworking space is definitely growing really fast. I definitely believe that the traditional way of how people work like in the normal office will disappear one day, not that far from here,” said Ana Lucia Aguila, expansion manager of Common Ground.

At its IBP Tower outlet, clients, depending on their space requirement, may choose to avail either a Hot Desk, with 37 seats, which is actually an entry-level product fit for a laptop; a Fixed Desk or a dedicated spot, with 18 seats, that come each

with a drawer; and private offices, with a total of 159 seats, equipped each with four up to 12 seats. They can also book multiple rooms and customize the space.

Members are entitled to free refreshments and cleaning services, on-duty staff and participation in weekly organized events. Exclusive discounts and freebies from partner establishments are also on hand.

Like in other Common Ground facilities, this latest site not just offers open space with desks and Internet connections but also connects the tenants with each other as a community.

“This is something that I would say makes us different from the traditional shared office spaces, as well. When you come to Common Ground, you actually have an experience. You have the café. You have the nice interior design. You have all the perks and all the partnerships,” she explained.

“So it’s not just a place that you come and just do your job and then go back home. It’s a space that you really look forward to go to work.

You connect to people, and you’re here not only to grow your business but you can just go and relax, as well. So it’s an entire experience

COMMON Ground offers various spaces that are conducive to taking your business to the next level.

for all,” she said.

Established in March 2017 with its first venue in Kuala Lumpur, Common Ground has since expanded to 13 locations around Southeast Asia, including two in the Philippines.

Due to positive response from the domestic market, ArthaLand’s facility has been already taken up at around 75 percent since its launch late last year.

Following its soft launch last December 17, 2018, on the other hand, occupancy in the second facility at the IBP Tower currently stands at 40 percent. It is projected to reach the

same level of tenancy as the latter three months after its official kick off on February 21.

Common Ground is, likewise, set to open soon its third branch in 8 Rockwell Makati. The company looks at possible locations in Alabang, Ortigas, Makati and even outside of Metro Manila, including Cebu, Davao and Iloilo, as part of its continued expansion initiative to have an aggregate seat of 3,000.

“We have the same plan for the Philippines. We want to grow here as aggressive as Malaysia. So, hopefully, this year we can open at least eight more venues,” Aguila said.

BOARD room spaces are available for meetings.

HOT Desks are available for individuals who wish to work in the common area.

COMMON Ground members are welcomed with a starter kit.

Green innovation and creativity at Trava

L THE new Amaia Steps Mandaue Tower 2 in Cebu offers high-quality and affordable units that cater to the needs of its prospective homeowners.

Amaia Land inspires new beginnings with new Amaia Steps Mandaue Tower

A

BRAND-NEW year evokes a time for new aspirations. Thus, for top-of-mind and affordable real-estate developer Amaia Land, 2019 is an auspicious year for offering Amaia Steps Mandaue Tower 2 to families and individuals seeking high-quality and affordable housing options.

In Mandaue, one of Cebu province’s highly urbanized cities, Amaia Steps Mandaue Tower 2 is set to provide its prospective residents convenient access to Cebu’s famed cultural and heritage sites. Its proximity to the Mactan International Airport and to schools, shopping,

dining and entertainment sites, such as Pacific Mall, Gaisano Grand Mall, S&R and Ayala Center Cebu, likewise gives it added value and prestige.

Amaia Steps Mandaue offers units with various sizes, which can cater to the needs of its prospect homeowners.

“For aspiring homeowners in Cebu, Amaia Steps Mandaue Tower 2 signifies new beginnings and a chance to settle down in our very spacious, welldesigned units at very affordable prices,” Grace Guinto of Amaia Land says. “Residents will also relish spending fun weekends at the property’s swimming pool,

which is expected to be completed this quarter, while they can look forward to bonding with family and friends at the courtyard.” Amaia Land brings the dream of owning affordable and sustainable homes closer to hardworking Filipinos through easy payment options: cash, deferred cash and bank financing.

Amaia continues to serve homeowners with affordable and sustainable developments that aim to elevate the Filipino living experience in a well-secured environment. www.amaialand.com

UXURY as a way of life is more than grandeur. It is actually in the details that achieve subtle elegance. Trava, under the stewardship of Greenfield Deluxe, the company’s new ultra-luxe brand, is rising at the heart of Greenfield City—a 400-hectare master-planned township that is one of the burgeoning industrial, commercial and residential hubs in Santa Rosa, Laguna.

Before Trava, Greenfield has already been driving progress in Santa Rosa City through its real estate developments in the area since the 1990s. In the last three decades, the city has transformed the agricultural land into a “city within a park” that is sought-after for its future-ready homes, infrastructures, communities and spacious, nature-rich landscapes.

Luxury meets green living

SANTA Rosa City is already a suburban residential paradise with its natural splendour, vast grasslands and fresh air. In preserving the laid-back environment of the South, Trava incorporates the urban conveniences of a premiere development with an ecological design that dedicates a huge 45 percent of the 33-hectare prime land to green open spaces and eco-efficient features.

Greenfield Deluxe commissioned

TRAVA is a suburban residential paradise that features natural splendour, vast grasslands and lots of fresh air.

the renowned architectural firm Locsin and Partners to give life to the concept of “luxury meets green living.” The master plan has wide, tree-lined roads, numerous lush parks, fully underground utilities and a streetscape with a 4-meterwide lawn that are each thoughtfully integrated in the grand scheme of living at Trava.

The promise of sophisticated, green living is further shaped into reality by the amenities at Trava which are artfully designed with prospective homeowners in mind—making them warm and gracious, welcoming and sophisticated. The clubhouse is ecologically designed with a grasscovered roof and energy-efficient

aspects. There is a social hall for special events, a fitness gym, function and recreation rooms for gatherings and celebrations, a children’s pavilion, a pool complex with lap, adult and kiddie pools with a pool deck, a dance studio, tennis court, basketball court, and dedicated bike and jogging lanes.

Greenfield Development Corp. lives up to its vision of “Building for Generations” and further enhances this with innovative concepts that are executed by its pioneering Greenfield Deluxe brand. Trava is envisioned as the next masterpiece in modern living that will set the pace for sustainability and subtle elegance in living, now and in the future.

BusinessMirror E1 | Wednesday, February 13, 2019 • Editor : Tet Andolong

RENDER of hotel casino project in Batangas City

FULGAR ARCHITECTS PUSHES

METAMODERNISM ARCHITECTURE

By Rizal Raoul S. Reyes

I

@brownindio

T is time to change the perspective and thinking of Philippine architecture and develop a new approach.

RENDER of Mars Ravelo museum in Tagaytay City

PRINCIPAL architect John Ian Lee Fulgar

John Ian Lee Fulgar, the principal architect of Fulgar Architects, told the media in a recent interview that it is high time to introduce metamodernism in the country.

“We are nearing the end of postmodernism, an era that is characterized by polarity—black or white, light or dark. With metamodernism, you are trying to marry both polarities to come up with something new,” Fulgar explained.

Expounding, the scholar of the Philippine Science High School said his exposure to the early stages of technology developed his thinking, along with his experiences working alongside with big international firms while he was based in Singapore.

When he decided to come back to the Philippines in 2014, Fulgar was determined to introduce metamodernism hoping to bring change into the country’s urban planning and

design. His firm, Fulgar Architects, is known as the pioneer in metamodern designs of commercial properties, hotels, museums, shopping malls and residences.

“We are borrowing too much from the Western ideas, where they mass produce and practice assembly architecture. While we are adapting these concepts, further studies on how it will impact our way of living as Filipinos must also be considered,” he pointed out.

Meta and technology

“META is something self-referencing,” Fulgar said. He pointed out this was technology-driven term where people are more connected.

This helps break down the objectivity with a more subjective point of view. “Google was kind of meta when it introduced the open office.

The discipline is now one of integration, coordination and collaboration.

TOWNHOUSE project in Cavite

It does away with the traditional assembly line method of ‘this is my job, I am done with it, and now I am passing it on to you.’ With that way of thinking, no one was able to see a larger perspective.”

With the advancements in technology, Fulgar said there are architects can use data and translate it into simulations to determine the stability and strength of the structure. “It can help us shape our buildings better with regard to our

own climate and other conditions.”

Sustainability is now the trend, but builders should be going beyond that, because according to Fulgar, being environment-friendly should already be a given.

While he admires efforts on heritage preservation, Fulgar is looking to make his mark on the more modern, even futuristic, side of architecture, particularly in adapting it to suit the change in lifestyle brought about by technology. “Tech is disrupting

the way we live and we have to make allowances for that, with something more sensible and less traditional, while still keeping in mind our culture as Filipinos.”

Metamodern projects

FULGAR Architects has several projects in the works, where it tries to apply the metamodern approach. One is The Fortress, a fusion of medieval and modern look with streamlined feel and amenities in Angeles City,

Pampanga. He is also working on the upcoming upscale resort in Puerto Galera, where he took in mind the orientation of the property to maximize its location on top of a cliff and designed the soon-to-be-built Mars Ravelo museum.

The latter is in Tagaytay, where the paper-inspired galleries housing the work of the komiks legend, are spread out through the 2.4-hectare property.

Another ongoing design project is a high-end hotel and casino in Batangas. The theme is origamic with angular forms catering to international clientele. This landmark hotel, located on a 7,000-square meter lot in Tanauan, will help revitalize economic activities in the area and promote tourism. Target date of launch is in 2020.

“I like working with clients who are not afraid to try something new and would like to step out from the usual,” explained the versatile architect.

As a contemporary artist, Fulgar said metamodern and art go handin-hand. “Art provides a backbone to my philosophies, where concepts, tastes, and know-how come together on a canvas composed with texture, lighting, temperature and tone.”

He said that part of the metamodern approach is education. “It will be a viewpoint that will look at impact more than output.”

Entrepreneur

E4 Wednesday, February 13, 2019

BusinessMirror

Taro turned into delicacies now a hit in Ifugao market

T

ARO (Colocasia esculenta), locally referred to as “gabi,” is rich in starch and a good source of dietary fiber.

In the Northern part of the country, taro is commonly grown as source of animal feed. Now, it is being produced and packaged into local delicacies (cookies, choco chip, choco cream and choco voron) which are all excellent pasalubong items for tourists and visitors alike. And these taro delicacies are now found in the local market in Ifugao.

In 2017, the Provincial Local Government Unit of Ifugao submitted a proposal to the Bureau of Agricultural Research (BAR) to promote viable food and by-products to increase farmers’ income and promote livelihood opportunities of the province, including taro.

Under BAR’s National Technology Commercialization Program, the project titled “Product Improvement and Promotion of Coffee, Tinawon Rice and Taro Products” was funded.

The funding support covered further product development and improvement, design assistance and promotional activities.

BAR Director Nicomedes P. Eleazar, during a recent official visit in Ifugao, was delighted upon seeing

the Taro Cookies and Taro Choco Cream on display and are being sold at Banaue Hotel in Ifugao.

“This is a testament that government money has not been put to waste. After all, the end goal of funding this initiative is to commercialize generated technologies and developed products and eventually bringing them into the mainstream market,” Eleazar said.

The taro delicacies are being produced by Rural Improvement Club (RIC) Food Processor in Baguinge, Kiangan, Ifugao, which is one of the 10 existing associations and organizations and 12 individual processors of coffee, Tinawon rice and taro products in the province assisted under the project.

They received technical assistance on product packaging and labeling, developed capabilities of identified processors engaged in production of products; conduct of simple cost and return analysis, among others.

RIC Food Processors is composed of 1 to 6 clusters. Cluster-5 is engaged in food processing and

SAMPLES of processed taro delicacies now available in the Ifugao market.

is led by Lety Dogwe. Other members are helping in sourcing out raw materials in Barangays Haliap, Asipulo; Barangays Baguinge and Nagacadan, Kiangan.

In a week, 28 kilos of taro is being processed producing 240 boxes of Taro Cookies, while 15 kilos of taro can produce 210 boxes of Taro Choco Cream. Regular production could double depending on the bulk of orders.

Aside from Banaue Hotel, the taro products are also available in lodges, restaurants, souvenir shops, trade centers, public market in Lagawe, Banaue and Kiangan. The RIC Food Processor is also distributing in

Tam-an Resort in Bayombong, Nueva Vizcaya and in Baguio’s One Town One Product—Department of Trade and Industry.

“We are thankful for the assistance provided to us to further improve the marketing appeal of our products. Also, the project provided additional income to farmers and also able to create job opportunities in food processing” Dogwe said.

Taro products were also showcased during the 14th Agricultural Fisheries Technology Forum and Product Exhibition from August 30 to September 2, 2018 at SM Megatrade Hall, Mandaluyong City.

Ma. Eloisa H. Aquino

Technolux brings modern technology in doing mundane household chores

T

HE current fast-paced lifestyle of urban dwellers has required individuals to avail themselves of devices that could bring greater convenience in doing day-to-day chores.

For instance, doing the laundry.

The emergence of laundry shops in almost every street in Metro Manila is a manifestation that a lot of people are looking for a faster and convenient way to wash their clothes.

Technolux Equipment and Supply Corp. saw the opportunity and now offers the latest washing and laundry equipment as a co-presenter of the “1st Cleaning and Laundry Show 2019” that will be held from February 21 to 23 at the SMX Convention Center, Pasay City.

The company said the three-day event will gather local and international suppliers, manufacturers, exhibitors, customers and companies involved in laundry systems, cleaning equipment and chemicals, janitorial and custodial supplies and IT service providers.

Technolux, for its part, said it will showcase its array of laundry equipment, such as cutting-edge smart hard- and soft-mounted washer extractors, tumble dryers, detergents, steamers and ironers that they im-

port and supply to the country’s top hotels, resorts, laundromats and other institutions.

Some of the world-class brands that will be featured are IPSO, Firbimatic (closed circuit dry cleaning machines); Braun (heavy duty industrial washer extractors, tumble dryers, flatwork ironers, automatic feeders, bed sheet and towel folders); Seitz (laundry detergents, wet cleaning detergents and dry clean-

ing solvents); Autovalet Systems (fully automated conveyor system) and Sidi Mondial (laundry pressing machines, dry cleaning utility press, form finishers, cuff and collar press, vacuum ironing tables and spotting tables).

Self-service coin-operated biz

DURING the event, Technolux will launch its “Self-Service Coin-Operated Laundry Business,” a full cycle

approach in owning a laundry enterprise, offering clients multiple business packages that will suit their preferences.

The coin-operated business is powered by IPSO laundry equipment. Based in the US, IPSO belongs to Alliance Laundry Systems Network, the global leader in commercial laundry with presence in over 100 countries. The company said the equipment are smartly designed and equipped with the latest technology to boost efficiency and reduce water, energy and detergent costs.

Technolux offers different ways to get into the coin-operated laundry enterprise. Clients can simply purchase individual IPSO washers and dryers so they can start their own business by themselves or they can choose from different packages for a turnkey business.

Foreign principals of Technolux will be some of the speakers in the event. These include Andrew Kan, IPSO director of sales, key accounts; David Kidney, Braun’s commercial director, Asia-Pacific; Vincenzo Minarelli, Firbimatic export sales director; Norbert Perera, Seitz Malaysia general manager and John Varley, Autovalet vice president of sales.

Rizal Raoul S. Reyes

www.businessmirror.com.ph

Ecosystems’ So finds business in the recycling of wastewater

By Rizal Raoul S. Reyes @brownindio Contributor

I

N his younger days, Dr. Robert So, chairman of Ecosystems Technologies Inc., was amazed by his father’s stories on the pristine state of the Pasig River. He added that his father also used to take a dip in the mighty river under the Jones Bridge in Escolta, Manila.

So said this is a thing of the past as Pasig River’s condition has gone from bad to worse. It was also declared once as a dead river.

“It [the Pasig River] symbolizes how the Philippines has regressed,” So told the BusinessMirror in a recent interview. But his bout with amoebiasis was a game changer for the mechanical engineering graduate from the University of Santo Tomas.

“It was in the mid-1980s that I started my interest in water. Nonetheless, as we moved forward, I was fortunate to be able to study [about] water under several mentors. I had also advanced studies on various technologies of water and I realized that these technologies are not made for countries like ours,” So explained.

Without a genuine and comprehensive urban planning in Metro Manila, the quality of water deteriorated. Exacerbating the problem was the nonavailability of space to build a sewage treatment plant infrastructure. Being a mechanical engineer by profession, So has to find a solution that will address this gargantuan problem.

As a result, Emerging Technologies introduced the Sequencing Batch Reactor technology in 1995 despite severe skepticism from the consultants and competitors at the time.

To address the problem of space, So said the SBR would be installed underground. The SBR allows the biological recovery of multiple sources of contaminated water for potable and non-potable uses.

“The key to the biological process of the machine depends on the growth of microorganisms that works on 24x7-basis,” he said.

The Cebu City Light Garden condominium in Lahug area was their first client. At present, the company uses four units for their sewage treatment needs.

“It first became controversial when it became successful,” he said.

“Many claimed it was done by their companies but we have patents to back our claims. When we designed the plant, we made it sure it will be coterminous with the life of the building,” So added.

In 2002, Ecosystems Technologies 2002 also helped De La Salle University install its water reuse facility, a first in the Philippines, for its football field care and maintenance.

Since 2002, So said Ecosystems has been active in recycling water. He said SM Prime Holdings is one of the beneficiaries of their water recycling technology. As of 2017, SM Prime has been able to save 5.76 billion liters of water worth P300 million.

Moreover, So said, Ecosystems was able to help SM Malls save over

SO

4 million cubic meters of recycled water since it started using wastewater for toilet flushing, grounds keeping, plant care and cooling towers in 2016 alone.

Property giant Ayala Land Inc., is another major client of Ecosystems Technologies. Other big name clients are Amanpulo, Shang Properties and Ortigas & Co. Some of the projects are located along the Manila Bay; these include sewerage treatment plants, or STPs, in the City of Dreams, in Okada Manila, SM Mall of Asia and the US Embassy Manila in Roxas Boulevard. Aside from helping the country to produce clean water, So said, the company wants to help in managing the country’s water resources. It has a solid track record as it completed more than 600 projects over the last 23 years.

Ecosystem, which is part of the MVP Group, claimed its STPs stands above the competition, allowing the developers to recycle the water for non-potable application use, such as rest rooms, firefighting, and plant care or landscape maintenance. The SBR technology is the core of the company’s water recycling initiatives.

In 2018, the technology was recognized by the Department of Science and Technology in its Technology Fair as a viable solution for water security and sanitation.

Now on its third generation, the technology has been deployed by Ecosystem to over 600 projects in the property development, as well as the industrial sectors all over the Philippines. For his innovations in green business, So was cited in 2008 as one of the nine “Most Inspiring Biotech Entrepreneurs” and was conferred a biotech award by the GoNegosyo organization for pioneering the use of biotechnology in used water treatment and for Ecosystem’s contribution in the development of biotechnology in the Philippines.

In 2010, he joined the ABS-CBN Lingkod Kapamilya Foundation in partnership in its Kapit Bisig Para sa Ilog Pasig Program to rehabilitate the Pasig River, as water technology consultant for the program. At present, he remains a member of the board of advisers of Bantay Kalikasan.

In 2015, So was recognized by Asia CEO Awards as technology company of the year and conferred the certificate for ISO 9000:2001 for Quality Management.

In 2016, he launched a joint venture with Metropac Water Investments Inc., joining the Metro Pacific Investments Corp. family aiming to make the country a center of excellence in water technology and sharing the technology to the Asean region.

Stripe, a $23-billion start-up, reckons with weakening globalization

I

N 2010, when Patrick Collison founded Stripe Inc. with his younger brother John, he thought the world was headed toward ever-increasing globalization, economic stability and international commerce.

Now, based on the events of the last couple years, no one holds “so Panglossian a view,” said the 30-year-old chief executive officer.“There are more headwinds to global economic integration than there were any time in the past 20 years,” Collison said. “That’s going to make global expansion more difficult for businesses in general.”

Stripe builds software and payment infrastructure that helps businesses accept money online and across borders.

And even as nationalism is on the rise, Stripe will continue its de-facto march for globalization, as if its business

depended on it, which in some respects, it does. Collison said the company will add a half-dozen countries. Part of the wager investors have made on Stripe is that it can keep getting a piece of more transactions and in more places. However, the business is vulnerable to an economic downturn that would constrain consumer spending and the spread of a strain of politics that could place higher barriers on companies to operate internationally. So, it’s natural that Collison would see impediments to global trade as “obviously a bad thing.”

Yet, Stripe’s backers remain optimistic. After Tiger Global Management led a $245-million investment in September, the hedge fund put in another $100 million last week. Stripe said the deal pushes the company’s valuation to $22.5 billion. One thing that could drive further

momentum for the business, according to Collison, is that red tape makes Stripe more valuable to companies. As doing business internationally becomes more complicated, more companies will want to pay for a service like Stripe to handle it for them, he said.

Collison will test this theory with a forthcoming expansion in the euro zone.

The new markets—Estonia, Greece, Latvia, Lithuania and Poland—are smaller economies that may have more trouble navigating the European Union’s volatile business climate as it grapples with the consequences of Brexit, the Internet privacy rule known as the General Data Protection Regulation and a dimming economic outlook across the region. Collison said the countries have strong developer talent and vibrant tech scenes. Stripe should assess these

markets on their potential and not their current size, he added.

Stripe will also offer services in Malaysia soon, and Collison said the company is eyeing India. Stripe has been testing the product with customers in India for about a year, and the world’s second-most-populous country is expected to generate more e-commerce growth in the future. However, local regulations pose obstacles to a nationwide rollout.

This year, in an attempt to keep a more global perspective, Stripe plans to make the majority of its hires in locales outside of its headquarters in San Francisco. It currently has engineering hubs in Dublin, Seattle and Singapore. “There’s so much that’s market- and country-specific about money,”he said.“We don’t want to be this San Francisco company that swaggers

in, thinks it knows everything and has all the answers.”

“There’s so much that’s market- and country-specific about money.”

Collison, an Ireland native who dropped out of MIT to start Stripe, said many Americans have been focused on the wrong economic trends. “From my standpoint, the biggest thing in Internet news, like if you were writing the annual report of the Internet last year,”—he made typing motions in the air—“is barriers between countries getting higher and much more active, country-specific regulation.”

Even as Collison was eager to discuss some of the global economy’s greatest questions, he was reticent to discuss one of his own. He declined to comment on plans for an initial public offering.

Collison said Stripe benefits when online commerce grows. The idea

harkens back to one Google has promoted over the years, that increased Internet usage helps its ad business.

Perhaps not coincidentally, Stripe has been hiring more people from the search giant. Diane Greene, the former CEO of Google Cloud, recently joined as the fourth outside director on Stripe’s board. The company also hired its chief technology officer and head of security from Google.

In addition to processing payments, Stripe runs some seemingly tangential projects. It publishes a quarterly magazine about software engineering called Increment; it acquired a forum for entrepreneurs called Indie Hackers; and it recently started printing books through Stripe Press about broad ideas in economics, technology and management.

Bloomberg News