Businessmirror January 04, 2019

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A broader look at today’s business n Friday, January 4, 2019 Vol. 14 No. 86

‘TRAIN caused surge in PHL sugar imports’ T

By Cai U. Ordinario

@caiordinario

HE surge in the country’s purchases of imported sugar and sugar products was the “unintended consequence” of the government’s implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, according to a local economist.

The latest data from the Philippine Statistics Authority (PSA) showed that the importation of sugar and sugar confectionery items in the third quarter of 2018 jumped by nearly 54 percent yearon-year.

The import bill for sugar and sugar confectionery items expanded to $154.37 million in the July-to-September period, from $100.29 million recorded in 2017. In terms of volume, shipments rose by nearly 58 percent

to 343,190 metric tons, from the previous year’s 217,320 MT. In June 2018, the government allowed traders to import 200,000 MT of refined and raw sugar to stabilize supply and prices in the domestic market and ease inflation.

54%

The rate of increase in the import bill for sugar and sugar confectionery items from July to September 2018: from $100.29 million recorded in 2017 to $154.37 million in 2018. In terms of volume, shipments rose by nearly 58 percent to 343,190 metric tons, from the previous year’s 217,320 MT Apart from sugar and confectionery items, the price of other basic goods, such as rice, registered increases and caused inflation to accelerate last year.

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Is the Solar Para sa Bayan franchise a virtual monopoly?

Dr. Jesus Lim Arranza

Make Sense

L

ET me start my first column for 2019 with my most heartfelt greetings for the New Year to everyone.

Incidentally, though, I find my topic for this issue of BusinessMirror interesting, if not intriguing; like the bill to impose a two-tier tax on cigarette, which I strongly criticized in my Ferbruary 23, 2017, column for being anti-competitive, the Solar Para sa Bayan franchise that grants the renewable-energy power firm the authority to install, establish, operate and maintain distributable power technologies and mini-grid systems throughout the Philippines is also anti-competitive and monopolistic.

Continued on A6

Duterte signs reso BIR ordered to probe P10-B shortfall in SSB revenue extending validity of ’18 appropriations See “TRAIN,” A2

By Rea Cu

@ReaCuBM

T

HE Department of Finance (DOF) has instructed the Bureau of Internal Revenue (BIR) to closely check the tax payments made by beverage manufacturers in the country, as a discrepancy of P10 billion was reported in the payment of taxes for sugar-sweetened beverages (SSBs) as of endOctober 2018.

Finance Undersecretary Karl Kendrick T. Chua said in a recent executive committee (Execom) meeting of the DOF that the BIR has so far collected only around P30 billion in excise taxes from SSBs, as opposed to the programmed target of P40 billion as of October 2018.

Chua said the shortfall may possibly be the result of SSB manufacturers not paying the correct taxes.

“My hunch is that those that are supposed to pay the P12 tax are only paying P6,” Chua said.

Thus, the BIR is tasked by the DOF to determine whether beverage manufacturers are paying the correct amount and type of tax as mandated under the Tax Reform for Acceleration and Inclusion (TRAIN) law, which took effect on January 1, 2018.

Under the TRAIN, a P6-per-liter excise tax is slapped on beverages using caloric and noncaloric sweeteners, and P12 per liter on beverages using high-fructose corn syrup (HFCS). Milk and 3-in-1 coffee mixes are exempted from the SSB tax.

See “SSB,” A2

By Bernadette D. Nicolas

E

EMPLOYEES of a supermarket in Makati City arrange assorted sugar-sweetened beverages (SSB) in this file photo. Government data showed a surge in imports of certain commodities—including sugar and sugar confectionery—in the third quarter of the year, a development attributed to the tax imposed on local SSB, making them more expensive. NONIE REYES

Peso weakens to 52.65 vs dollar

By Bianca Cuaresma @BcuaresmaBM

THE local currency traded within the P52 territory in the first few days of 2019, as markets are expected to proceed with caution during the early months of the year.

Data from the Bankers Association of the Philippines (BAP)

PESO EXCHANGE RATES n US 52.5710

showed the peso weakened and closed trade at 52.65 to a dollar on Thursday, following the 52.515 to a dollar close on Wednesday—the first trading day of the year.

The total traded volume on both days remained below $1 billion—with Thursday’s trade hitting $797.5 million, higher than Wednesday’s $580.05 million.

The trading value of the peso in the first days of 2019 did not fall far from where it left off before the holidays.

Data from the Bangko Sentral ng Pilipinas (BSP) showed the peso’s trading value averaged P52.769 to a dollar in December last year.

See “Peso,” A8

@BNicolasBM

XECUTIVE Secretary Salvador Medialdea has confirmed that President Duterte has signed the resolution extending the validity of 2018 appropriations.

Medialdea said the President signed it last December 28.

Contrary to Majority Leader Rolando G. Andaya Jr.’s claim, Budget Secretary Benjamin E. Diokno told the BusinessMirror that the government will still be operating under the cash-based budgeting system this year until 2022.

“Cash-based budget is still on this year and in 2020 to 2022,” Diokno said.

Meanwhile, he also noted that the Department of Budget and Management is “consulting with line agencies on the impact of extension of 2018 budget on the 2019 cash budget.”

“I know that practically all 2018 appropriations have been released, ,except some lump sums like the miscellaneous personnel benefits fund and the pension fund. The harsh reality is that the overriding constraint in budget planning is the size of the deficit. H e n c e , by implication, appropriations extended will eat up on 2019 spending program,” Diokno said.

“If a 2018 appropriation for an agency is extended to 2019, an equal amount for the said agency will be deducted from the proposed 2019 budget. In effect, the extension of whatever is left from the 2018 budget will not be allowed to bloat the 2019 expenditure program.”—Diokno

“Put differently, if a 2018 appropriation for an agency is extended to 2019, an equal amount for the said agency will be deducted from the proposed 2019 budget. In effect, the extension of whatever is left from the 2018 budget will not be allowed to bloat the 2019 expenditure program,” he added.

The DBM’s initiative to shift from obligation-based to cashbased budgeting system earlier resulted in a budget impasse because of the House’s opposition to the new system, which they said led to some budget cuts on certain agencies.

Under a cash-based budgeting system, the projects listed in the budget must be fully delivered, inspected and accepted by the end of the fiscal year.

On the other hand, under the Continued on A2

n JAPAN 0.4820 n UK 66.3078 n HK 6.7112 n CHINA 7.6612 n SINGAPORE 38.5023 n AUSTRALIA 36.7892 n EU 59.6576 n SAUDI ARABIA 14.0152

Source: BSP (3 January 2019 )

News

BusinessMirror

A2 Friday, January 4, 2019

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‘₧332-B flood-control funds included areas not at risk’

B

By Jovee Marie N. dela Cruz

@joveemarie

UDGET Secretary Benjamin E. Diokno has allocated a total of P332 billion for flood-control projects from 2017 to 2019, including several in areas not at high risk of flooding, a leader of the House of Representatives disclosed on Thursday.

“For 2017 to 2018, the DBM has already allocated P213 billion for flood-control projects. Then an additional P119 billion for 2019 or a total of P332 billion for three years,” Majority Leader Rolando G. Andaya Jr. said at a hearing of the House Committee on Rules in Naga City.

The inquiry by the Rules panel which Andaya chairs comes just days after the Bicol region was hardhit by Tropical Depression Usman, a weather disturbance apparently underestimated by many, but which brought days of nonstop rains, spawning landslides and flooding.

Most of the over 80 fatalities were from landslide-hit parts of Bicol.

Continuing his attacks on the Department of Budget and Management’s (DBM) policies under Diokno’s watch, Andaya said, “As I mentioned earlier, we have uncovered disturbing patterns in the manner that the DBM now allocates and disburses public funds. The most glaring is the allocation for flood- control projects.”

According to Andaya, P14.5 billion of flood-control projects is part of the questionable P75billion additional insertions in the proposed 2019 General Appropriations Act. Andaya also alleged that the DBM allocations for flood-control

TRAIN. . .

Continued from A1

University of the Philippines economist Rene Ofreneo told the BusinessMirror on Thursday that the increase in the purchases of sugar and sugar products could be an unintended consequence of the TRAIN. Ofreneo said imports are cheaper and do not carry additional taxes imposed under the new law.

“The country’s sugar imports have been subjected to value-added tax [VAT] for the longest time. But with the TRAIN, these products did not see an increase in taxes,” Ofreneo said. “Whenever you do a policy formulation, it has to be comprehensive. With the TRAIN, [policy-makers] only looked at its impact on revenues.”

Because imports are cheaper and the domestic price is unfavorable to planters, Ofreneo said he received reports that some sugarcane lands have been left idle, and local sugar companies are diversifying to keep their businesses afloat.

Mislatel. . .

projects do not adhere to existing rules and guidelines of the Department of Public Works and Highways (DPWH).

“We are in possession of a DPWH Department Order No. 23, series of 2015, outlining the guidelines and procedures for the implementation of flood-control and drainage/ slope protection projects which are funded by the national government under the DPWH Infrastructure Program,” he said.

The ties that bind?

MEANWHILE, Andaya accused Diokno of acting alone in allocating flood-control funds in Casiguran, Sorsogon, where his in-laws are politicians and are owners of the Aremar Construction.

Casiguran Mayor Edward Hamor, the biggest shareholder of Aremar Construction, and his wife Sorsogon Vice Gov. Ester Hamor are the parents of Diokno’s son-inlaw, Romeo Sicat Jr. who is married to the budget secretary’s daughter, Charlotte Justine.

Andaya said 19 villages in Matnog, Sorsogon are now suffering from flood due to the Tropical Depression Usman and yet these areas did not receive allocation under the 2019 budget.

“For 2019, zero budget for flood control in Matnog. But a whopping He added that some farmers did not harvest sugarcane because of higher taxes slapped on sugar-sweetened beverages. The increase in taxes imposed on SSBs did not cover beverages, such as 3-in-1 coffee drinks, which can easily be imported.

Shortage of ‘sacadas?’

OFRENEO also said it is also now becoming more difficult to hire sacadas to work in sugarcane fields. He reported feedback from the field that the children of older sacadas, who are mostly covered by the Conditional Cash Transfer (CCT) program, also refuse to work in the fields.

“Aside from the TRAIN, it is of course the low cost of sugar that is affecting production. This is the reason some of the sugar mills are shifting to alco-gas and diversifying their businesses into distilleries,” he said.

Prior to the third quarter, data from the PSA showed that payments for imported sugar and sugar products registered declines. In the first quarter, the import fell by 47.42 percent year-on-year to $70.94

Continued from A8

Rio also claimed that the terms for the auction was the “most transparent ever created.”

“And the fact that there where 10 applicants that bought the bidding documents at P1 million each, showed that this is not unusually high. Also, only one of the 10 complained about the P700-million participation security. And no one of those who actually submitted bids complained about the performance security,” he said, pertaining to Now Corp.

The ICT chief also allayed fears on cybersecurity, saying that the National Security Authority also gave its inputs in crafting the terms of reference.

He explained that the bidding rules “require the winner to show steps and assure the government that his network will not the a source of threat to national and cybersecurity.”

“This assurance is part of the post-qualification requirements,” Rio said.

He added that Mislatel also has to secure clearance

“We have uncovered disturbing patterns in the manner that the DBM now allocates and disburses public funds. The most glaring is the allocation for flood-control projects.”—Andaya

P385 million allocated for Casiguran, which has no threat of flooding now or in the next 25 years,” Andaya said Andaya said that Aremar Construction has been allegedly using big-time or Triple A contractors as dummies to secure government projects. Andaya tagged CT Leoncio Construction and Trading as one such “dummy.”

CT Leoncio Construction and Trading is a sole proprietorship owned and managed by Consolacion T. Leoncio. Its registered address is at 171 Luwasan Street, Guyong, Santa Maria, Bulacan.

“Acting on these tips and leads, we tried to study the pattern of allocation for flood-control projects and other infrastructure projects in Bicol region where my home province Camarines Sur is situated,” he said.

For 2018, Andaya said CT Leoncio Construction and Trading bagged at least 36 projects amounting to P1.6 billion in the provinces of Sorsogon and Catanduanes.

He said there are other projects undertaken by CT Leoncio in other parts of the country.

Also, Andaya claimed, CT Leoncio has been using a single backhoe since May 2018 in implementing five sample projects in Sorsogon, and that it only has three engineers for 40 projects.

“Moro-moro lang daw ang nangyayari sa bidding. Ang trabaho talaga ng triple A contractors, makuha ang kontrata at ipahiram ang lisenmillion. In the second quarter, payments contracted by 12.58 percent year-on-year to $78.39 million.

Trade deficit DATA from the PSA also showed that the agriculture sector’s trade deficit in July to September 2018 widened by 42.38 percent to $1.85 billion, from $1.3 billion recorded in 2017. This is because imports expanded by 15.48 percent while exports contracted by 4.34 percent year-on-year. The import bill during the period reached $3.54 billion while export receipts amounted to $1.69 billion.

Derailed TRAIN targets IN December, a Philippine Institute for Development Studies (PIDS) study estimated that government collection from the TRAIN may still fall short of target in the next three years.

In the study titled “Assessment of Republic Act 10963: The 2017 Tax Reform for Acceleration and Inclusion,” PIDS Senior Research Fellow Rosario G. Manasan said total tax revenues may decline by P66.097 billion in 2018 and P33 billion in 2019.

from the Securities and Exchange Commission, which will then ensure that it will comply with all laws and constitutional provisions for incorporations.

Mislatel has 45 days from now to comply with all of the post-qualification requirements, which include the payment of several bonds, the securing of approvals from the PCC, and the submission of its business and roll-out plans, among others.

“If the winner fails in any of this post-qual requirements, it will not be granted the frequencies and permit to operate as a telco,” Rio said. “Even if Mislatel has been declared as the new major player in the prequalification stage, it can’t operate as a telco if it fails in the post-qualification stage, which is still ongoing.”

It was awarded the official new major player title on November 19, after the National Telecommunications Commission addressed all motions for reconsideration from disqualified bidders PT&T and Sear Telecommunications Inc. “The petition may be premature, as Mislatel can still be eliminated as a new major player,” Rio noted.

sya sa totoong gagawa ng projects.

Sa ating kaso ngayon, lumalabas na dummy lamang ang CT Leoncio.

Ang totoong may-ari ng proyekto: ang Aremar Construction [We learned that the biddings were a sham. The Triple A contractors strive to bag projects and then lend their license to the actual implementor. In this case, it appears the dummy is CT Leoncio. The real project owner is Aremar],” said Andaya.

For her part, Consolacion Leoncio, owner of CT Leoncio Construction and Trading, claimed that she did not know the in-laws of Diokno and only his liaison officer Francis Clemente, who has been preparing all her business documents. The lower chamber has subpoenaed Clemente.

Andaya also presented an October 4, 2018, LandBank deposit slip worth P11.4 million sourced from his contractor friend that was allegedly deposited to Aremar Construction by another construction firm that he did not identify, after the DBM released the money.

Andaya, meanwhile, asked the Anti-Money Laundering Council (AMLC) to provide his panel the complete bank transactions of CT Leoncio Construction and other construction firms with Aremar Construction.

Last year, Aremar Construction Corp. entered into a jointventure agreement with CT Leoncio Construction and Trading in the implementation of at least four major infrastructure projects in Sorsogon.

“It is also clear that the Hamor couple are in-laws of Sec. Diokno. In Tagalog, balae or in-laws. Secretary Diokno may not wish to admit it, but his relations with the Hamors is clear. His son-in-law is Romeo Sicat Jr., the son of Ester and Edwin Hamor,” said Andaya in a mix of English and Filipino.

The TRAIN law is projected to generate additional revenues of P6 billion, or 0.03 percent of GDP, in 2020 onward.

The TRAIN also had an adverse impact on the poorest households, requiring the government to provide unconditional cash transfers of P300 to P400 a month in the next three to four years.

Manasan said the tax revenue estimates of the incremental revenues are lower than the official estimates which place the revenue gains from the TRAIN law at P63 billion in 2018, P104 billion in 2019 and P140 billion in 2020.

She said actual revenue from the personal income tax may fall below its 2018 target by P43 billion which suggests that the revenue loss from personal income-tax (PIT) reform may actually be closer to P190 billion, larger than the finance department’s estimate of P146 billion estimate.

Manasan also said the October 2018 collections of the Bureau of Internal Revenue and Bureau of Customs indicate that excise and VAT revenues may fall short of their targets for the entire 2018 by a combined total of P36 billion.

SSB. . .

FIRST ORDER OF BUSINESS Public and private vehicle owners queue at a Land Transportation Office (LTO) field office at a Manila city mall for their license renewal processing on the first day of government offices’ operations for the year 2019. ROY DOMINGO

Duterte signs reso extending validity of ’18 appropriations Continued from A1

previous practice of obligationbased budgeting system, contracts awarded within the fiscal year can be delivered even after the end of the year. Inspection, verification and payment can also be done within and beyond the end of the fiscal year.

Guidelines

THE DBM also released on Thursday the guidelines for a reenacted budget for the first quarter for 2019.

This is the first time that the government is operating under a reenacted budget under the Duterte administration.

Pend ing cong ressiona l ap proval of the 2019 General Appropriations Bill, the 2018 national budget is deemed reenacted and shall be in force until such time that the GAB is passed into law

by Congress.

While the 2019 General Appropriations Act has yet to be approved, national government agencies receiving allotment or Notice of Cash Allocation (NCA) from the DBM are authorized to obligate the amount corresponding to their actual requirements for the first quarter of 2019, but not exceeding the required percentages, according to DBM’s circular letter.

Under those which are classified under “Chargeable Against AgencySpecific Budget” were 25 percent each for Personnel Services (PS), Maintenance and Other Operating Expenses and Capital Outlays.

Twenty-five percent of the PS level using salary requirements as of end-2018 are authorized to be obligated but not to exceed the level provided under the 2019 National Expenditure Program (NEP).

This PS level excludes built-in funds in the agency for the creation of positions and fourth-tranche compensation adjustments, midyear bonus, year-end benefits and cash-gift, clothing and uniform allowance, and Productivity Enhancement Incentive.

As for Maintenance and Other Operating Expenses, 25 percent of regular programs and ongoing foreign-assisted and locally funded projects under the 2018 GAA and the 2019 NEP, whichever has the

Continued from A1

According to Chua, data from the Department of Health and the Food and Drug Administration showed that only one company—Coca-Cola Femsa Philippines Inc.—has secured an FDA approval to convert its sweetener from HFCS to sugar or other caloric or noncaloric sweeteners as of October 2018.

Other companies that have been determined to be using HFCS as beverage sweeteners still have to apply for FDA approval, which is a requirement before they could shift to caloric or noncaloric sweeteners with the lower tax rate of P6 per liter, he noted.

“The FDA approved only the conversion for Coke, and that was just last August. So I think many are paying P6 when they should be paying P12. That is our concern. I suggest that the BIR conduct an audit [on these companies]. They cannot just change the content per the FDA,” he added.

Also during the Execom meeting, BIR Deputy Commissioner Arnel S.D. Guballa reported that the bureau has already started checking the tax payments of beverage manufacturers and been sending deficiency assessments to correct the

lower amount, are allowed.

For Capital Outlays, those which are authorized are 25 percent of regular programs and ongoing foreign-assisted and locally funded projects under the 2018 GAA and 2019 NEP, whichever has the lower amount.

Meanwhile, the DBM will issue a Special Allotment Release Order (Saro) based on the agency’s Special Budget Request Items, such as: Charges against the Pension and Gratuity Fund, as reenacted, for the actual requirements for retired government employees and actual requirements for pension benefits of military and uniformed personnel; the amount of releases shall be based on the number of pensioners and rates as of December 31, 2018.

Charges against other Special Purpose Funds such as Budgetary Support to Government Corporations (BSGC), Miscellaneous Personnel Benefits Funds (MPBF), Contingent Fund (CF), among others; Chargeable against Automatic Appropriations such as the Internal Revenue Allotment (IRA) of provinces, cities, municipalities and barangays corresponding to their requirements for the first quarter of 2019 based on the 2019 NEP. All Saros to be issued chargeable against the FY 2018 Budget as outlined in Circular Letter 2019-1 shall be valid for obligation while the 2019 GAA is not yet in effect, the DBM said in a statement.

“The DBM will continue to oversee the budgetary operations of the national government, especially as it runs on a reenacted budget for presumably the first quarter of 2019,” Diokno said.

“We will do what we can to minimize the damage to the Philippine economy, particularly public construction. You see, as early as the first working day of the year, we have come up with the guidelines for fund releases under the reenacted budget.”

Diokno also reiterated that the earlier the 2019 national budget is passed, the better it will be for the economy.

“Ramping up our investments on infrastructure and social services will only be sustainable if the budget is authorized by Congress,” he added.

SSB tax discrepancies.

He pointed out that excise tax collections on SSBs from large taxpayers amounted to P29.74 billion from January to October 2018, while another P184.4 million was collected from other SSB taxpayers, for a total of P29.92 billion.

Broken down, the BIR collected a total of P7.70 billion in SSB excise taxes during the first quarter of 2018, P9.95 billion for the second quarter, P8.64 billion during the third quarter and P3.63 billion as of end-October.

Finance Secretary Carlos G. Dominguez III said the newly imposed SSB tax has significantly contributed to the state coffers despite the shortfall as of October 2018, bringing in an additional P100 million a day in revenues, or about P3 billion a month.

The finance chief added that around P100 million a day was the operational target set by the DOF for the collection of the SSB excise tax.

The TRAIN law or Republic Act 10963 was signed into law

by President Duterte in December 2017, slashing personal income-tax rates while implementing offsetting measures such as increasing fuel excise tax rates, as well as imposing an excise tax on SSBs, among others.

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Friday, January 4, 2019 A3

PNP chief tags Daraga mayor as brains behind Batocabe murder

P

HILIPPINE National Police (PNP) chief Director General Oscar D. Albayalde has tagged Daraga, Albay, Mayor Carlwyn Baldo as the brains behind the murder of Rep. Rodel Batocabe and his security escort, SPO2 Orlando Diaz, last December 22.

Saying the PNP considered the case “solved, but not closed” since some suspects have not been arrested, there is still a possibility someone higher than the mayor may be involved, the PNP chief said.

Albayalde said Baldo had tapped one “Christopher Naval” to carry out the hit.

Naval, in turn, assembled six others, who all happened to be on the payroll of the mayor.

Batocabe’s term in Congress is ending, and he had filed a certificate of candidacy to run for mayor of Daraga, challenging Baldo.

Suspects, persons of interest

ACCORDING to Albayalde, the six suspects mobilized by Naval included rebel returnees and dismissed soldiers. They were listed in the mayor’s payroll as “personal staff” and he said authorities were looking at the possibility these people also acted as guns-for-hire for other groups.

The PNP investigation benefited greatly from the surrender of one Emmanuel Judavar, who was initially included in a plot hatched in August 2018, but had allegedly backed out and subsequently went to the police after last month’s killing.

Judavar was shown by cops a photo of the last gift-giving event graced by Batocabe just before he was gunned down, and the witness identified two persons on the scene, who were neither senior citizens nor persons with disability. They were among the people

Other suspects

tagged in the assassination.

The “persons of interest” now tagged as suspects included a former member of the New People’s Army (NPA) and an ex-Citizen Armed Force Geographical Unit (Cafgu) officer, and one dishonorably discharged soldier.

The rest were dismissed members of the Armed Forces of the Philippines.

Family gratitude

ALSO at the briefing, Batocabe’s son Atty. Justin Batocabe expressed profuse gratitude to authorities for the speedy investigation.

“These fruits of hard labor of our investigators are very much welcome…[Our family has nothing but appreciation for all those who helped.] Thank you, thank you very much to the police,” said the younger Batocabe.

He said the solution of the case “helps the family somehow accept what [had] happened.” But, he added, the notion “of killing someone for money, for a public position—that is something we can never accept.”

Atty. Batocabe declined to say if the family has decided on who will take the slain congressman’s place in the ballot for the mayoral race for May 13.

He explained that under the law, only someone surnamed “Batocabe” can substitute for the slain candidate, but he would not say if he was giving in to pressure to run in his father’s stead.

The young lawyer also noted that Baldo can still run for reelection and even win and assume office,

NATIONAL Police chief Director General Oscar D. Albayalde presents a gallery of photographs of suspects who may have had a hand in the December 22, 2018, assassination of Party-list Rep. Rodel Batocabe of Ako Bicol. NONOY LACZA

despite the charges having been filed, because the election law requires “final conviction” in a case to disqualify a candidate.

Albayalde said they have filed with the provincial prosecutor this morning charges of double murder and six counts of frustrated murder against Baldo and his cohorts.

Albayalde said among the seven, Naval, alias Tuping, who was identified as a trusted security aide of Baldo, was forced to surrender to the PNPIntelligence Group (IG) last December 30, due to the relentless police operations jointly conducted by combined elements of Police Regional Office-5 Special Investigation Task Group Batocabe, Criminal Investigation and Detection Group (CIDG) and PNP-IG. Tuping provided investigators with vital information surrounding the assassination of Batocabe.

Accordingly, the plan to assassinate Batocabe was hatched

sometime in August 2018, when Batocabe made public his bid to run for mayor of Daraga.

This was corroborated by Judavar, who was involved in the initial planning, but later backed out during the actual assassination.

Judavar earlier came forward and gave his knowledge to the police about the killing of Batocabe.

P5M hit fee

ACCORDING to Tuping, Baldo allegedly offered P5 million for the hit job on Batocabe sometime in September 2018 and paid an initial amount of P250,000 to Tuping and his group for the purchase of guns and motorcycles.

Tuping’s team is composed mostly of former military, paramilitary personnel and NPA rebels who are presently employed under fictitious names as confidential staff of the Office of the Mayor of Daraga and are each receiving a

monthly compensation of P7,000.

Tuping himself was a discharged Army serviceman who once served with the Military Intelligence Battalion (MIB) of the 9th Infantry Division stationed in the Bicol region.

Based on Tuping’s revelation, he purchased two SYM motorcycles in Camalig, Albay, using the assumed name Abelardo Castillo, while another member of the team, Danilo Muella, alias Manoy Dan, acquired two homemade .45-caliber pistols.

Muella is reportedly a former sergeant in the 97th Military Intelligence Company (MICO) of the 9th Infantry Division.

According to Tuping and Judavar, the first attempt on Batocabe was during the congressman’s routine engagements at radio station dzJB and Hotel Venezia in Legazpi City, a pattern that was observed by the group in its casing and surveillance on Batocabe.

BASED on the extrajudicial confession of Tuping, revelations made by Judavar, and intelligence research conducted by the IG and CIDG, the other members of Tuping’s team and their individual participation in the murder are as follows: 1) Henry Yuson, alias Romel/Eno, a former NPA rebel arrested by MICO, MIB of 9th IB and who later became a Cafgu member. He was tagged as the main gunman who shot Batocabe allegedly with a .40-caliber pistol.

2) Rolando Arimado, alias RR, a rebel returnee who served as lookout and backup gunman. It was reported that he, likewise, pulled the trigger to kill Batocabe and Diaz on the day of the assassination.

3) Emmanuel Rosello, alias Boboy, a former Cafgu member who drove the other getaway motorcycle. He was arrested earlier by police operatives in Daraga, Albay.

The getaway motorcycle was, likewise, seized from his possession.

4) Jaywin Babor, alias Jie, also an ex-Army man who was designated as driver of the getaway motorcycle.

From all indications as revealed by the suspects and witnesses, and physical evidence gathered by the police, the group that killed Batocabe and Diaz is a private armed group employed by the mayor that is involved in contract killing as a gun-for-hire syndicate, Albayalde said.

Cases of double murder and multiple frustrated homicide were filed in Albay against Baldo and his cohorts.

“Immediately effective today, I have ordered the revocation of firearms licenses and PTCFOR [permit to carry firearms outside of residence] of Mayor Baldo and has recommended the removal of his deputation over the local police of Daraga, Albay. This is a victory of the rule of law in this country. This is also a stern warning against those unscrupulous politicians who will resort to violence to gain elected position. The long arms of the law will eventually catch on you,” Albayalde said. With PNA

DAR flaunts ‘record-breaking’ land PNP bans drones in next week’s distribution feat in North Cotabato ‘Traslación’ of the Black Nazarene

By Jonathan L. Mayuga @jonlmayuga

T

HE Department of Agrarian Reform (DAR) on Thursday claimed it has set a “recordbreaking” feat with the symbolic distribution of 11,443 hectares to 6,424 farmer-beneficiaries in the province of North Cotabato, one of listed socalled conflict areas in Mindanao.

The land distribution at the gymnasium inside the North Cotabato Provincial Capitol last December 29, presided by no less than President Duterte and Agrarian Reform Secretary John R. Castriciones, is expected to boost peace efforts in Mindanao, which until today is under a state of martial law.

The farmer-beneficiaries are from Kidapawan City and 17 different towns of North Cotabato.

In a news statement, the DAR

said the record-setting feat broke the previous single-day land distribution of more than 10,000 hectares, which also took place in Mindanao, in the province of Bukidnon, in September 1990.

The milestone took place under the stewardship of DAR-Central Mindanao Regional Director Felix Aguhob, who, incidentally, was the provincial agrarian reform officer of Bukidnon when the previous record was accomplished.

In his brief remarks, the President prodded Castriciones to place under the Comprehensive Agrarian Reform Program (CARP) all government agricultural lands and distribute them to landless and needy farmers.

“Have it covered under CARP and distribute them,” Duterte was quoted as saying in a statement released by DAR.

For his part, Castriciones commended officials and employees of DAR-Central Mindanao for a job well done.

He said the distribution is “a testimony of their hard work and in compliance with the order of President Duterte to fast-track land acquisition and distribution to landless farmers.”

Undersecretary for Finance, Management and Administration Lucius “Jun Jun” Malsi, meanwhile, cautioned the DAR-Central Mindanao personnel not to be too complacent.

“Since it’s you who stirred the competition, don’t wait for another 20 years or so to break your record,” Malsi said.

The massive land distribution in North Cotabato is expected to positively impact the security of land tenure of agrarian-reform beneficiaries.

Lacson cites another reason to attach terrorist tag to Reds

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HE Communist Party of the Philippines’s (CPP) “priority” to oust a sitting President in 2019 should be an added reason to tag the New People’s Army (NPA) as a terrorist group, Sen. Panfilo M. Lacson Sr. said on Thursday.

Lacson, in a news statement, said so many lives had already been lost in the 50 years that the CPP and its armed wing, the NPA, had been waging a guerrilla war trying to overthrow the government. “[CPP founder Jose Maria Sison] has been at it for the past 50 years.

So many lives [have been] lost already. [The] DOJ [Department of Justice] should follow up with the

court the proscription case vs the NPA as a terrorist group as per Section 2 of Republic Act 9372,” Lacson said in a post on his Twitter account.

In February 2018, DOJ asked a Manila court to legally declare the CPP-NPA as a terrorist group, citing the Human Security Act of 2007.

Lacson noted that before Sison was quoted in reports as saying the CPP’s priority in 2019 is to oust President Duterte, the CPP-NPA had been attempting to overthrow past and present governments for the last five decades.

While the CPP-NPA had resorted

to “peace talks,” these were “aimed at having a coalition government but still aimed at a takeover, violent or otherwise,” Lacson pointed out.

“They have not succeeded for the past five decades so I don’t see how they can. Right now, they are reduced to a band of extortionists, arsonists and robbers, even a terrorist group,” he added.

As such, Lacson urged the Executive department, through the DOJ, to “follow up with the Judiciary the case that they filed calling for the proscription of the NPA as a terrorist group, which is provided under Section 2 of the Human Security Act of 2007.”

By Samuel P. Medenilla @sam_medenilla

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ITH over 21 million devotees expected to attend the celebration of the Feast of the Black Nazarene next week, officials of Quiapo Church in Manila are considering to implement additional reforms to manage the growing crowd.

As in previous years, Quiapo Church Parochial Vicar Danichi Hui said during a news briefing on Thursday they are anticipating more people to join in the world-renowned religious event.

For 2018, he said, they were able to record 21 million people who participated in the Feast Day celebration, which starts from December 31 and would end on the actual day of the procession, or more popularly known as Traslación, on January 9.

The Philippine National Police (PNP) estimated at least 2.5 million would join the traditional, almost daylong procession starting from Quirino Grandstand in Rizal Park to the Quiapo Church in Manila.

Quiapo Church Parochial Vicar Douglas Badong said the parishes in Tagum in Davao del Norte, Catarman in Northern Samar, Nueva Vizcaya, Palawan, Bicol, Cagayan de Oro and Basco in Batanes will also simultaneously hold their own Traslación on the same day.

He said, for this year, a parish in the United Arab Emirates (UAE) will also celebrate the first Traslación outside of the country.

Badong said they welcome the development since it shows the increasing number of people who show their devotion to Christ.

“We have no problem with similar processions as long as it will be done in coordination with the parish priest, so they will not be accused of colorum, or being a cult,” Badong said.

Intervention

TO mitigate the sheer number of participants, Quiapo Church implemented several measures to reduce road congestion during the Traslación.

This includes holding several processions, where devotees could bring their large replicas of the Black Nazarene for blessing.

Hui said this is to discourage them from bringing their replicas during the Traslación.

Another solution they came up with was the creation of the 14 prayer stations in Manila last year, which served as stopovers of the procession.

Hui said the function of the prayer station was twofold: to bring a solemn atmosphere throughout the entire procession and to serve as venue where devotees could bring their large Nazarene replicas.

The prayer stations, Hui said, were able to lessen the number of large replicas during the 2018 Traslación by 90 percent.

As additional intervention, Badong also discouraged devotees from directly touching the Black Nazarene during the procession.

“They could do this throughout the entire year in the Quiapo Church not just during the procession...attending the procession is already more than enough [to prove their devotion],” Badong said.

For its part, the PNP said it will be deploying 7,200 of its uniformed personnel to help Quiapo Church in securing the 2019 Traslación.

As additional security measure, authorities will also be implementing a no-fly zone and no-sail zone in Manila during the procession.

PNP will also arrest any unauthorized use of drone during the event.

Reaching out

HUI said they are now studying increasing similar measures as Black Nazarene devotees are expected to continue to rise each year.

“We may be forced to act once it [number of participants] reaches 30 million,” Hui said.

In develov ing t hese solutions, Quiapo Church Rector Msgr.

Hernando Coronel recommended more studies on the people who participate in the Traslación. By knowing their backgrounds and motivation, he said, the Church could determine how to better reach out to them.

Personally, Coronel said, he would like to study if there is any correlation between poverty and the number of devotees who join the Traslación each year.

“Before making any conclusion, we should have scientific basis for it,” Coronel said.

Badong said educating the devotees may also play a role in making the Traslación more manageable.

“We would always tell them, even from the distance they could talk and pray to the Nazareno,” Badong said.

He said this year, the theme of Traslación will be focused on devotees to remind them on the real meaning of following the Black Nazarene.

“Answering the call of Jesus of Nazareth is not for the purpose of being famous or to compete, but to serve others,” Badong said.

Economy BusinessMirror

A4 Friday, January 4, 2019 • Editor: Vittorio V. Vitug

DOLE report: 166K workers displaced from 2014 to 2017

By Samuel P. Medenilla @sam_medenilla

O

VER 166,000 workers were displaced from 2014 to 2017, a study conducted by the Department of Labor and Employment (DOLE) showed.

In its JobsFit 2022 report, the DOLE said nationwide displacement grew an average of 16.2 percent during the said period.

The biggest increase was in 2015,

when displacement soared to 43,556 from just 27,487 in the previous years.

The number of retrenched workers continued to increase to 45,589 in 2016 and 50,089 in 2017.

“The top reason for displacement are redundancy and reorganizations or downsizing,” the DOLE said citing latest data from its Job Displacement Monitoring System (JDMS).

JDMS is the compilation of the notices shutdown/displacement submitted by employers to

DOLE’s regional offices.

The DOLE said most of the displacement was in the industry sector with a compounded annual growth of 17.7 percent or 9,577 retrenched workers per year during the period.

The bulk of the retrenched workers in the industry sector were from firms manufacturing subsector. The subsector comprised 35 percent, or 58,390 of the 166,721 displaced workers from 2014 to 2017.

Another big loser in terms of dis-

placement were the workers in the administrative and support service activities subsector, which has a total of 42,492 retrenched workers.

The subsectors with the least displacement for the period were those in the accommodation and food service sector, as well as the information and communication sector.

The JobsFit 2022 report has yet to include the displacement figures for 2018, which is still be processed by the DOLE.

Solon pushes food-waste reduction through donation, waste recycling D

EPUTY House Speaker Sharon Garin renewed her call on Thursday to reduce the country’s food waste through donations and waste recycling in the wake of the holiday season.

“There is a need to address our country’s lack of system when it comes to addressing food waste.

For instance, food items continue to end up in dumpsites instead of being repurposed as livestock feed which can help our farmers,” Garin, of Aambis-OWA party-list and one of the principal authors of the Food Waste Reduction Act, said.

Quoting a Philippine Statistics Authority report, a Filipino household wastes 1.676 kilograms (kg) of rice annually, which, she said, represents a total of 38.507 million kg valued at P1.617 billion.

“We should start to treat foodwaste reduction as a critical goal

for 2019,” she stressed.

From the proposed educationinformation-communication campaign to the comprehensive multisectoral approach, the Food Waste Reduction Act seeks to create a system that will effectively address the problem of food wastage in the country. The proposed measure is also in line with the Sustainable Development Goal of eliminating hunger (SDG 2).

Upon the enactment of the legislation, the National Nutrition Council (NNC), in coordination with the departments of Social Welfare; Local Government; Environment; Education (DepEd); Trade; Health; Science and Technology; Agriculture; Food and Drug Administration (FDA), along with other concerned agencies and local government units (LGU), shall formulate a National Food Surplus

Campaign to raise awareness on the impact of food surplus and strategies to reduce food waste, starting at the household level.

Further, the campaign shall also promote the food surplus reduction hierarchy and recommended means of reducing individual food waste.

To ensure that the younger generation is abreast with the practice of food-waste reduction, the bill mandates the DepEd to incorporate informative materials on the current global and national foodwaste situation; ways to minimize food surplus; national and local food surplus prevention programs; and food recovery in the prescribed curriculum.

Moreover, mandatory donation of edible food surplus for charitable purposes and the creation of food banks are some of the key features of the bill. In line with these provi-

sions, owners of covered establishments such as restaurants, cafés, diners, fast -food chains or hotels; supermarkets with at least 500 square meters of selling space; and culinary schools will be required to segregate their edible and inedible food surplus.

The food surplus shall then undergo inspection of the LGU based on the standards to be set by the NNC and FDA. Only upon the certification of edible food surplus can it be donated to accredited food banks and distributed among foodinsecure Filipinos.

The House Special Committee approved the unnumbered substitute bill for the Food Waste Reduction Act on May 2018. The Senate has yet to discuss their version of the measure.

Garin said she hopes the bill will see the light of day before the end of the 17th Congress.

Gatchalian prods Duterte administration to crack whip on oil price manipulators

By Butch Fernandez

@butchfBM

S

EN. Sherwin T. Gatchalian prodded the Duterte administration on Thursday to dispatch a combined task force of the Department of Trade and Industry (DTI) and the Department of Energy (DOE) to go after unscrupulous traders taking advantage of recent adjustments in excise tax on imported oil products.

Gatchalian, who chairs the Senate Committee on Economic Affairs, pointed out that the TRAIN law, also known as the Tax Reform for Acceleration and Inclusion, allowed an additional P2.00 excise tax per liter of imported gasoline and crude effective last January 1.

The senator asserted, however, that the DTI and DOE need to ensure that the additional tax will not yet affect current retail prices of petroleum products.

“This is because what is currently being sold as of now by oil companies are not newly imported, and were bought long before the imposition of the higher excise tax,” Gatchalian pointed out.

He noted that based on a DOE circular, oil companies are obliged to keep an oil stock to be sold for 15 days or more.

In a news statement issued on Thursday, Gatchalian assured that his committee will keep close track of developments, after it was shown during a recent hearing that the DOE was having difficulty monitoring inventory of oil companies when the government initially imposed upward adjustments in oil excise tax last January 2018.

At the same time, the senator aired his committee’s hope that the Duterte administration’s economic managers would be “more prepared” to act promptly in anticipation of rising inflation triggered by the second year increase in excise taxes.

Gatchalian also voiced expectations that Duterte’s economic managers will be more prepared in preventing a repeat of past year’s surges in prices of basic commodities.

EDSA SKYWALKERS

A group of workers from an outdoor advertising billboard company performs a regular maintenance check on one of its steel structures prior to the installation of a new tarpaulin advertising material along Edsa on Thursday. The heavy volume of vehicular and foot traffic has kept the outdoor advertising business along the congested thoroughfare buoyant. NONOY LACZA

www.businessmirror.com.ph

Usman farm damage rises to ₧816.17M–DA

By Jovee Marie N. Dela Cruz @joveemarie

F

ARM losses caused by Tropical Depression Usman rose to nearly P1 billion, adversely affecting the livelihood of thousands of farmers in Samar, Bicol region and Eastern Visayas, the Department of Agriculture (DA) reported on Thursday.

According to the latest update from DA Disaster Risk Reduction and Management Operations Center, damages to the agriculture grew from P431.21 million to P816.17 million as of 8 p.m. on Wednesday, January 2.

“The increase in overall values is attributed to the reports in rice, corn, high value crops, livestock, fisheries and irrigation facilities in the provinces of Albay, Camarines Sur, Catanduanes, Sorsogon, Northern Samar and Samar,” the report said.

The DA reported that Usman wrought damage to some 40,075 hectares, affecting 36,902 farmers and fisherfolks with an estimated 18,634 metric tons (MT) volume loss.

The DA said 30,422 rice farmers in the provinces of Quezon, Oriental Mindoro, Albay, Camarines Norte, Camarines Sur, Catanduanes, Masbate, Sorsogon and Northern Samar and Samar were affected with P732,48 million, with 15,633 MT volume production loss.

It added 4,576 corn farmers lost 286 MT of produce planted in 5,737 hectares in Albay, Camarines Sur, Sorsogon and Masbate. Corn crops damaged were valued at P27.59 million.

Damage to high-value crops was now at P41.6 million with an estimated production loss of 2,715 MT

in 555 hectares. The DA said 1,770 farmers in Albay, Camarines Sur, Masbate, Samar and Sorsogon growing fruit-bearing trees, assorted vegetables and root crops reported production losses.

As of January 2, the DA also noted that P124.9 million worth of rice, vegetables and livestock with 5,385 hectares of damaged agricultural areas affecting 5,921 farmers in Eastern Visayas alone.

NFA rice

MEANWHILE, Agriculture Secretary and National Food Authority (NFA) Council Chairman Emmanuel F. Piñol said the food authority has distributed 150,000 bags of rice to the flood-hit provinces of the Bicol region.

According to Piñol, the NFA rice stocks to be sold at P27 per kilo will be enough to cover the needs of the region for 40 days at 7,000 bags released daily.

Piñol, citing NFA Acting Administrator Tomas Escarez, said the stocks include imported rice which is now being unloaded at the ports of Bicol and locally procured paddy rice.

He said the NFA office in Albay warehouse has 90,904 bags—9,819 for Camarines Norte; 11,316 for Camarines Sur; 3,861 for Catanduanes; 26,137 for Masbate and 5,855 for Sorsogon.

As of January 2, Piñol added the NFA has released 6,879 bags to the provincial governments and local government units with Albay receiving 1,450 bags, Camarines Norte with 1,400; Camarines Sur with 1,775; Catanduanes with 300; Masbate with 150; and Sorsogon with 1,804.

DPWH bares massive destruction to road infra in Bicol and Southern Tagalog after typhoon

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S of 12 noon on January 3, 2019, five national roads remain impassable to all types of vehicles due to road cut, landslide, and damaged bridge structure and approach brought by Tropical Depression Usman.

The Department of Public Works and Highways Bureau of Maintenance (DPWH-BOM) reported that concerned DPWH field offices are still clearing closed roads which include: Marikina-Infanta Road, K0114+838 in Barangay Magsaysay, Infanta, Quezon, due to road cut; DM Junction. Legazpi-Santo DomingoTabaco-Camarines Sur Boundary Road sections K0579+000, K579+100, K579+600, K579+920, K579+960, in Barangays Maynonong, Dapdap, Mayong in Tiwi, Albay, due to landslide; Buyo Bridge 2, Legazpi City-Punta de Jesus Road, Molabago Area in Albay, due to damaged bridge approach and floodcontrol structures.

In Camarines Sur, affected roads include: Pili-Tigaon-Albay Boundary Road sections K0504+250, K0504+350, K504+490, K504+690, K504+720, K505+020, K0505+050, K0505+350, K505+480, K505+750 due to landslide; Baao-Iriga CityNabua Road, K468+250, due to damaged Waras Bridge at K468+250.

Several road sections in Region 5 were also only one lane passable such as: Daang Maharlika Road sections K0284+337; K0284+600K 0 2 8 4 + 6 5 0 ; K 0 2 6 7+ 6 1 7 K 0 267+ 6 4 2 ; K 0 2 51+ 4 8 1 t o K0251+533 in Camarines Norte; Maligaya-Caramoan Road, K0568+100 in Bahay, Camarines Sur; CCR-Virac-San Miguel-Viga Road Section, CCR K0021+300 section in Barangay Kilikilihan, Municipality of San Miguel, Camarines Sur; CCR Pandan Candan-Caramoran-San AndresVirac Road Section, K0156+700+100 Barangay Lubasi, San Andres, K0162+100 Barangay Manambrag, San Andres, K0172+440 Mayngaway, San Andres, K0158+300 Barangay Cabungahan, San Andres, K0125+740, Barangay Tubli, Municipality of Caramoan, K0146+950 Barangay Guiamlong, Municipality of Caramoan; and the Baras-Gigmoto-Viga Road, K0060+400 Barangay Sioron, Municipality of Gigmoto.

Partial cost of damage to roads and bridges has reached P2.49 billion, with P407.1 million damage in Region 4A and P2.083 billion in Region 5.

The public may check latest travel advisories and situational reports on roads at the DPWH Facebook Page, www.facebook.com/dpwhph/.

Banks told to train workers on instant payments system

By Bianca Cuaresma

T

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) ordered banks to educate their employees on the ins and outs of realtime electronic retail payments system in the country.

In its first memorandum issued for the year, the Central Bank said all BSP-supervised financial institutions shall conduct a personnel education and publication of PesoNet and InstaPay information.

The PesoNet and InstaPay are the two automated clearing houses (ACH) launched under the National Retail Payments System (NRPS) agenda.

The Philippine EFT System and Opera-

₧50K The maximum transaction amount for InstaPay for EFT small value payments as prescribed by the BSP

tions Network (PesoNet) was the first ACH under the NRPS and was launched in November 2017. It is a batch electronic fund transfer (EFT) credit payment scheme,

which can be considered an electronic alternative to the paper-based check system.

Fund transfers and payment instructions under PesoNet will be processed in bulk and cleared at batch intervals InstaPay, as launched in April 2017, is a real-time low-value EFT credit push payment scheme for transaction amounts up to P50,000. It is designed to facilitate small value payments.

Thus, the BSP ordered banks to establish “effective mechanisms” to ensure that all its frontline personnel possess adequate information about PesoNet and InstaPay so the staff can properly address customers’ concerns regarding the two facilities.

T he memorandum a lso said banks are required to post mater ia ls containing per tinent infor mation about PesoNet and InstaPay in the premises of its offices and on their web sites to enable their customers to have sufficient knowledge about the f und transfer facilities.

Also, banks should provide, with prominent visibility in their web site, the links to the PesoNet and InstaPay web sites that will be maintained or directed by the Philippine Payments Management Inc. (PPMI).

Local financial institutions shall meet these requirements not later than the end of the first quarter of 2019.

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

The World

Opec output falls most in almost 2 years as Saudi cutbacks begin

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EFORE its agreement to cut oil supplies even started, Opec’s production plunged by the most in almost two years last month.

In a sign of the urgency felt by the cartel, amid tumbling crude prices, leading member Saudi Arabia throttled back production, according to a Bloomberg survey of officials, analysts and shiptracking data. The group’s pact to curb output only formally started this week.

The kingdom’s deliberate cutbacks were compounded by unplanned losses in Iran, which is being targeted by US sanctions, and in Libya, where protests halted the biggest oil field.

As a result, oil output from the Organization of Petroleum Expor ting Countries fell 530,000 barrels a day to 32.6 million a day last month. It’s the sharpest pullback since January 2017, when the group first embarked on its strategy to clear the glut created by rising supplies of US shale oil.

A global coalition of oil producers known as Opec+, which comprises both members of the group and other exporters including Russia, agreed on December 7 to reduce output during the first six months of 2019. Crude prices failed to rally however, and instead slumped to the lowest in more than a year.

Brent crude futures climbed as much as 5.1 percent on Wednesday, as shipping data showed Saudi Arabia was delivering its announced cutbacks. It traded at $55.74 a barrel at 5:52 p.m. in London. That’s about 35 percent below the four-year peak reached in early October.

Investors remain concerned that Opec+ isn’t cutting enough to make way for another surge of supply anticipated from shale oil drillers in America. They’re also increasingly worried that a slowing global economy, coupled with the US-China trade dispute, will hit fuel demand and swell the pile-up of unwanted crude.

“Slowdown fears” are “putting more pressure on Opec to stabilize the petroleum markets,” said Phil Flynn, a markets analyst at Price Futures Group Inc. “So let the cuts begin.”

The Saudis curtailed production by 420,000 barrels a day to 10.65 million last month, from a record of just above 11 million reached in November, the survey showed. Energy Minister Khalid Al-Falih has

promised to cut even deeper this month, going beyond the reductions the kingdom signed up to.

Unintentional cutbacks

AS is often the case with Opec, not all of the supply restraint seen last month was deliberate.

Libya’s production fell by 110,000 barrels a day to 1 million a day. Sharara, the country’s biggest oil field, has been offline since it was stormed in mid-December by an armed group and demonstrators demanding better government services.

The situation in the North African nation, plagued by clashes and unrest since the fall of former leader Muammar Qaddafi in 2011, worsened on Wednesday when bad weather at the Es Sider port forced a separate output reduction of 100,000 barrels a day.

Iran’s crude production fell by 120,000 barrels a day last month to 2.92 million a day, the survey showed. The country’s output has slumped 23 percent since US President Donald Trump announced in May he would reimpose sanctions after abandoning a nuclear accord with the Islamic Republic.

The penalties resumed in November, though the US surprised importers by awarding many of them temporary waivers, which could cause shipments to rebound this month.

Even with the preemptive Saudi cutbacks, Opec has plenty of work still to do to fulfill its promises. The 11 members bound by the deal committed to an overall cut of 800,000 barrels a day, mostly from their October levels, while their non-Opec partners pledged a decrease of 400,000 barrels a day.

Production from those 11 countries is now 140,000 barrels a day below their October level, so they would need to cut about another 660,000 barrels a day to implement the agreement.

Countries which last month rushed to maximize oil expor ts before the agreement took effect will now need to reverse those increases.

Iraq, which bridled at the requirement to cut shipments last year, bolstered output by 130,000 barrels a day in December to 4.7 million a day, according to the survey.

The United Arab Emirates, which has been expanding production capacity, also increased output. Bloomberg News

China lands probe on ‘dark’ side of moon in world first

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EIJING—China’s burgeoning space program achieved a first on Thursday: a landing on the so-called dark side of the moon.

The United States, the thenSoviet Union and more recently China have all sent spacecraft to the near side of the moon, which faces Earth, but this is the firstever landing on the other side.

The China National Space Administration said the 10:26 a.m. landing of the Chang’e 4 lunar explorer has “opened up a new chapter in human lunar exploration.”

A photo taken at 11:40 a.m. and sent back by Chang’e 4 shows a small crater and a barren surface that appears to be illuminated by a light from the spacecraft. Its name comes from that of a Chinese goddess who, according to legend, has lived on the moon for millennia.

The landing highlights China’s growing ambitions to rival the US, Russia and Europe in space, and more broadly, to cement China’s position as a regional and global power.

The Chang’e 4’s launch on December 8 was hailed as one of the nation’s major achievements in 2018, and state broadcaster China Central Television announced on Thursday’s landing to the public at the top of the noon news.

“The space dream is part of the dream to make China stronger,” President Xi Jinping said as far back as 2013, shortly after taking office.

In 2013 Chang’e 3, the predecessor craft to the current mission, made the first moon landing since the former Soviet Union’s Luna 24 in 1976. The United

States is the only country that has successfully sent a person to the moon, though China is considering a crewed mission, too.

For now, it plans to send its Chang’e 5 probe to the moon next year and have it return to Earth with samples—also not done since the Soviet mission in 1976.

The relatively unexplored far side of the moon has a different composition than the near side, where previous missions have landed.

Chang’e 4, a combined lander and rover, will make astronomical observations and probe the structure and mineral composition of the terrain above and below the surface.

“The far side of the moon is a rare quiet place that is free from interference from radio signals from Earth,” mission spokesman Yu Guobin said, according to the official Xinhua News Agency. “This probe can fill the gap of low-frequency observation in radio astronomy and will provide important information for studying the origin of stars and nebula evolution.”

One challenge of operating on the far side of the moon is communicating with Earth. China launched a relay satellite in May so that Chang’e 4 can send back information.

C h i n a conduc ted it s f i rst crewed space mission in 2003, only the third country to do so after Russia and the US. It has put a pair of space stations into orbit and plans to launch a Mars rover in the mid-2020s. Its space program suffered a rare setback last year with the failed launch of its Long March 5 rocket. AP

BusinessMirror

Friday, January 4, 2019

A5

Why slowing economies could prod US and China to reach deal

W

ASHINGTON—The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness.

The import taxes the two sides have imposed on hundreds of billions of each other’s goods—and the threat of more to come—have heightened anxiety on each side of the Pacific. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

Their conf lict is occurring against the backdrop of a slowdown in China and an expected US slump that a prolonged trade war could worsen—a fear that’s weighing on financial markets.

Yet, those very pressures, analysts say, give the two countries a stronger incentive to make peace.

“The US and China now have a strong shared interest in striking a deal in order to halt the downward spiral in business and investor confidence, which have taken a beating in both their economies,” said Eswar Prasad, professor of trade policy at Cornell University.

The economic threats, agreed Wang Yong, an international relations specialist at Peking University, “might be conducive to negotiations” by nudging Beijing toward market-oriented changes long sought by the United States.

Still, it will hardly be easy to bridge the complex differences between the world ’s top two economies. They range from President Donald Trump’s insistence that China buy more US products to widespread assertions that Beijing steals trade secrets from foreign companies operating in China.

Negotiations between the two nations are expected to resume next week. Gao Feng, a spokesman for China’s Commerce Ministry, said last week that the two sides have “made specific arrangements for face-to-face meetings” and are talking by phone. Gao offered no details, and the Office of the US Trade Representative declined to confirm the talks.

The world is watching anxiously. China and the United States, the two largest economies, are the “main engines of the world,”

noted Song Lifang, an economist at Renmin University in Beijing.

That makes their dispute “a matter not only for the two countries but for the world,” he added.

The dispute is “a major factor” in a slowdown in global growth, Song said, and a settlement would “help in arresting the decline of the economies of the two countries and of the world.”

Trump has long complained about America’s gaping trade deficit with China: The gap between what Americans sold and what they bought from China in 2017 amounted to $336 billion and will likely be higher in 2018. But the dispute goes far deeper than lopsided exports and imports. It’s fundamentally a high-stakes conflict over the economy of the future.

The US accuses China of deploying predatory tactics in a drive to surpass America’s technological supremacy. A report in March by the US Trade Representative accused China of hacking into US companies’ computer networks to steal secrets and coercing American companies to hand over

technology as the price of admission to the Chinese market.

To try to compel China to reform its ways, Washington has imposed tariffs on $250 billion in Chinese imports; Beijing has counterpunched by taxing $110 billion in US goods. Trump had been set to raise the tariffs on most of the Chinese goods on January 1. But he and President Xi Jinping agreed to a 90-day cease-fire to try to resolve their differences.

Since then, the case for peace has strengthened as economic risks in the US and China have grown and financial markets have reeled. For 2018, the Dow Jones Industrial Average—America’s highest-prof i le stoc k market benchmark—fell nearly 6 percent, its worst performance since 2008.

China’s Shanghai Composite Index sank nearly 25 percent.

On top of concerns about collateral damage from the US-China trade war, investors in the US markets are worrying about rising interest rates and a wobbly US realestate market. Fears are growing that the second-longest economic expansion in US history could slide to a halt next year or in 2020. Cutting a deal with Beijing could help at least reduce the threat.

China’s economy has been decelerating since the government pulled back on bank lending a year ago to try to curb a run-up in debt.

The International Monetary Fund estimates that China’s economy grew about 6.6 percent in 2018, down from 6.9 percent in 2017.

But heavy government spending

masked weakness in private-sector activity. In December, factory activity shrank for the first time in more than two years.

Auto sales in China plunged 16 percent in November from a year earlier. It was the fourth month of contraction, and it put annual sales in the world’s biggest auto market on track to contract for the first time in three decades.

Despite its softening economy, China will likely find it difficult to comply with US demands to slow its economic ambitions. Those ambitions cut to the heart to China’s drive to become the world’s 21st century economic superpower.

“It is difficult to solve the trade dispute immediately because the US demands are too high, especially demands for changes in China’s economic and social systems, which it is difficult for China to accept,” said Song, the economist at Renmin University.

Wendy Cutler, a former US trade negotiator, said the US likely can’t realistically settle for anything less than an agreement by Beijing to reform how it does business.

“There are certainly compelling reasons for both sides to reach a deal and avoid further tariff increases,” said Cutler, now vice president at the Asia Society Policy Institute. “However, these reasons can only take you so far.... Without a strong deal that addresses structural issues, it sets the administration up for critics to say, ‘You took us into a trade war for this?’” AP

IN this December 2, 2018 file photo, cranes at the Port of Gulfport are silhouetted by the setting sun at Gulfport, Mississippi. The Trump administration and China are facing growing pressure to blink in their six-month staredown over trade because of jittery markets and portents of economic weakness. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports. AP/CHARLIE RIEDEL

WORLD BANK: ROBOTS AREN’T YET KILLING OFF ALL OUR JOBS

A KUKA AG LBR iiwa robotic arm opens a bottle of beer during a demonstration at the International Robot Exhibition in Tokyo, Japan, on November 29, 2017. KIYOSHI OTA/BLOOMBERG

T

HE rise of automation has so far had a negligible impact on jobs at a global scale, the World Bank chief economist said, despite common gloomy predictions that humans are set to be replaced by machines.

While advanced economies have shed industrial jobs over the last two decades, the rise of the same sector in East Asia has more than compensated for the loss, according to an annual report published

by the Washington-based international financial institution.

“This fear that robots have eliminated jobs—this fear is not supported by the evidence so far,” the World Bank’s Chief Economist Pinelopi Koujianou Goldberg said in an interview.

The World Development Report 2019 is the latest in a series of efforts by academics, consultancies and governments to assess the impact of new technologies on employment.

Past studies have often forecast automation will destroy more jobs than it creates.

In its report, the World Bank instead stresses that the nature of work in the future will evolve. While technological advances in automation are starting to handle thousands of routine tasks and will eliminate many low-skill jobs in advanced economies and developing countries, it’s also creating opportunities for different, more productive and more creative jobs.

“This is the fourth industrial revolution, there have been three before, and in each case we managed to survive so it’s not the case that machines completely eliminated humans,” Koujianou Goldberg said. “Eventually, we will adjust.”

While the effects have been negligible on a global scale, the report said the share of industrial employment dropped more than 10 percentage points over the past two decades in countries including the UK, Spain and Singapore, as workers shifted from manufacturing to service jobs. Meanwhile, the share went up in some developing countries, such as Vietnam, where it rose from 9 percent in 1991 to 25 percent in 2017.

In the future, workers are more likely to have many jobs over the course of their

careers, largely due to the rise of the gig economy, instead of holding down a position with the same employer for decades, according to the World Bank.

And different skills will be increasingly important, the report says. Instead of less advanced skills that can be replaced by technology, employers will increasingly be looking to hire people with advanced cognitive skills, like complex problem-solving, teamwork, reasoning and communication talents.

To ease that transition, governments should guarantee a universal minimum level of social protection, the World Bank said.

One option could involve offering insurance independent of employment since future workers will likely flit from one job to the next.

One major area of concern for the World Bank is the impact the technological shifts will have on developing countries in Africa and elsewhere hoping to catch up to more advanced peers. In the past, these regions could rely on growing their economies by taking advantage of low wages in their own country and opening up to foreign trade.

But salaries are less relevant if machines replace more people, which could hinder the countries’ efforts to catch up, Koujianou Goldberg said. Bloomberg News

A6 Friday, January 4, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The balloon drop that didn’t happen

I

T was a stroke of marketing creativity bordering on genius: Celebrate the New Year with us and make history in the Philippines. Who would not want to be part of that event?

The Okada Hotel Manila was shooting for a place on the roster of the Guinness World Records and instead shot itself badly in the public relations foot. The intention was to have a New Year’s Eve celebratory drop of 130,000 balloons at the Cove Manila nightclub to a packed house. Unfortunately, the balloons did not show up, thanks to a public outcry.

Immediately upon the announcement a few days before the end of the year, the social media exploded with concerns about the environmental impact of disposing 130,000 balloons. An online campaign was launched by Climate Reality Project Philippines, joined

by Greenpeace Southeast Asia—Philippines, Ecowaste Coalition and Save Philippine Seas, and in few days generated 63,000 signatories.

Cove Manila went into damage control and tried to placate the mob by assuring the public that there would be proper disposal of the balloons. However, when the Department of Environment and Natural Resources stepped in and asked Okada to stop the drop, the Battle of the Balloons was over.

The reality, though, is that 130,000 balloons create about 400 kilograms of waste. A study in 2011 found that the average urban Filipino produces about 0.7 kilograms of solid waste each day. So that 400 kg of balloons is about the same as what one person would throw away in a little over a year. So, if only 500 people attend the balloon drop, they would have used up their own one-day garbage disposal quota.

Cove Manila can hold 4,500 guests.

But the amount of waste that the environmental groups were whining about is really not the issue, no matter how loud their voices might have been. We wonder if there would have been the same outcry and complaints if Okada had come up with another scheme.

Suppose the hotel had intended to give 130,000 Noche Buena meals to poor and underprivileged children, also including a single balloon in each meal pack to help them celebrate the New Year? Would the Climate Reality Project Philippines, Greenpeace Southeast Asia-Philippines, Ecowaste Coalition and Save Philippine Seas have started the same petition to “Ban the Balloons”?

We have no reason to criticize the efforts to have the balloon drop canceled, although we firmly believe that colorful balloons are nice for any celebration. The problem is that, in this day and age, we all must be aware and concerned with pollution and waste.

However, statements like “inflating and discarding 130,000 balloons for a few minutes of merriment of your highly privileged 3,000 guests, which, after the event, will likely be disposed of at a place where poor people live and work” are hypocritical in the big picture.

Four hundred kilos of used balloons is not going to make much impact against the 8,500 tons of solid waste Metro Manila produces each day.

Nonetheless, it is probably beneficial that the 130,000 balloons did not get dropped. What would happen if some whiz-kid marketing person had happened to look up the world’s record for a New Year’s Eve bonfire made from used automobile tires?

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Is the Solar Para sa Bayan franchise a virtual monopoly?

Dr. Jesus Lim Arranza Continued from A1

A

ND, much like the rushed approval of the bill to impose a two-tier tax on cigarettes in 2017, the Solar Para sa Bayan franchise bill seems to have been rushed as well by the Lower House.

Like the fate of the two-tier tax bill on cigarettes, which has been shelved after strong opposition from some industry sectors as it could create market segmentation, giving some industry players undue

advantage, I am also hoping that the Solar Para sa Bayan franchise bill would be reviewed further in both houses of Congress because of its big impact to the country’s power industry and the new Philippine

anti-competition law.

According to an earlier statement

by Party-list Rep. Lito Atienza, House Bills 8013 and 8015, which seek to grant the franchise to Solar Para sa Bayan, were railroaded.

I still can’t understand the Lower House’s haste in having the Solar Para sa Bayan franchise bill approved when there are several groups, including legislators, who are against it.

And like the concerns of some sectors about its being “unconstitutional” because it allegedly violates the existing rules of House Bill 8179 or the Electricity and Power Industry Reform Act (Epira), I am also concerned about granting Solar Para sa Bayan the authority to infringe on the franchise of distribution utilities, most especially granting the power firm a virtual monopoly of the country’s power industry.

A tricky yet indispensable business Ser Percival K. Peña-Reyes, PhD

EAGLE WATCH

L

IKE any science, economics is concerned with the explanation of observed phenomena. Theories are developed to explain these observed phenomena in terms of a set of basic rules and assumptions. With the application of statistical and econometric techniques, theories can be used to construct models from which quantitative predictions can be made.

Economic forecasting can be defined as the process of attempting to predict the future condition of the economy by employing a combination of important and widely followed indicators. Economic forecasting typically attempts to come up with future GDP growth rate, inflation rate, unemployment rate and interest rate, among others.

Accurate economic forecasts are important because they can foster confidence and stability in an economy. For example, the national treasury is responsible for managing government finances and allocating funds to relevant departments. When people listen to budget speeches and forecasts, they form expectations, which determine their behavior.

There have been lively discussions surrounding economic forecasts (inflation in particular), and once again, it is that time of the year when forecasts are made and shared. It would be good to discuss why forecasting is a tricky yet indispensable business.

Economic forecasting is tricky because economies, like weather systems, are complex. Instead of having a foundation based on more predictable physical laws, econo-

mies are built on human behavior, which naturally involves uncertainty. Demand behavior, for instance, is shaped largely by individual tastes and preferences, which are difficult to generalize because of their volatility and idiosyncrasy.

However, this does not mean that prediction becomes absolutely impossible. What must be clarified is that economists are merely describing tendencies at best.

Naturally, looking into the future involves uncertainty and risk, and the fact that forecasts are based on rough models creates a serious dilemma for policy-makers. As economic journalist Robert Samuelson notes, models exclude almost everything interesting and disruptive in life: politics, nationalism, technological change, the weather, greed, fear, ambition, ignorance and stupidity. To explain these lapses, economists often blame shocks. A shock is a catchall label that covers almost anything that an economic model could miss.

According to Samuelson, forecasting is merely telling people what they already know, or might know, by examining available information. It creates an illusion of understanding.

The trouble is that there are times

Economic forecasting is tricky because economies, like weather systems, are complex.

Instead of having a foundation based on more predictable physical laws, economies are built on human behavior, which naturally involves uncertainty.

Demand behavior, for instance, is shaped largely by individual tastes and preferences, which are difficult to generalize because of their volatility and idiosyncrasy. when radical and dramatic changes do happen, and at these moments, economists are almost as clueless as everyone else. Their crystal balls are cracked. Their economic forecasts seem to be least reliable when they are most needed.

Nevertheless, despite having what might be perceived as a poor track record, economic forecasting is indispensable because it plays a crucial role in establishing even a general sense of the future, as investment author Cullen Roche argues.

Roche prefers to describe forecasting as intelligent guesswork rather than crystal ball gazing. He argues that instead of making highly specific or detailed numerical forecasts, economists can provide a general indication of the likely environment in which forward-looking policy needs to be formulated.

To further clarify his point, Roche compares forecasting with preparing to set sail across an ocean. One would never claim to accurately predict the weather or conditions he might face, but he can have a general understanding of the way the vessel operates, the path, and the potential weather patterns, in order to increase

In my lifetime, I still have to see a franchise granted to a private firm to provide very basic services to all Filipinos nationwide, such as power.

As far as I can remember, a power supply franchise is only limited to a particular franchise area.

And while Section 59 of the Epira is clear that only those that are in remote and unviable villages that the franchise utility is unable to service for any reason shall be opened to qualified parties, the Solar Para sa Bayan franchise bill, however, grants the power firm authority to participate in every sector, like generation, transmission, distribution and supply without scope limitations.

Is the Solar Para sa Bayan franchise a “superman franchise”? I hope I will have enough supply of cryptonite to fight this superman.

the likelihood that he will reach his destination in one piece.

Since politics could be highly partisan, such as when government agencies produce unrealistic scenarios in an attempt to justify legislation, most rational people might regard government economic forecasts with healthy doses of skepticism. Thus, people can benefit from forecasts offered by private sector economists and academics, for these provide alternative views.

Although forecasts can influence people’s expectations, is it sensible to call out particular forecasters for making inaccurate predictions? Perhaps, there is a need to differentiate between accuracy and precision. In science, measurements that are close to a standard or known value are said to be accurate, whereas measurements that are close to each other are said to be precise.

The best case is that all forecasts are accurate (and thus also precise), but this world is obviously not perfect. In a more natural setting, there is variation across forecasts (measurements not necessarily precise), but at least there are accurate predictions.

The worst case is that all forecasts are inaccurate (although likely to be precise, as will be explained shortly).

The suggestion to call out wrong forecasters runs the risk of groupthink, which occurs when a group of well-intentioned forecasters makes irrational decisions that are spurred by the urge to conform or the discouragement of dissent. As Samuelson puts it, to stray too far from one’s peers is to risk looking foolish alone. There is less embarrassment in being wrong with everyone else.

Thus, groupthink is likely to result in the worst case.

Ser Percival K. Peña-Reyes, PhD, teaches economics at the Ateneo de Manila University.

Opinion BusinessMirror

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The state of oil in 2019: Turbulent or steady?

Opec or shale?

O

Another Zoo Story Tito Genova Valiente

ANNOTATIONS

By Christopher Sell | Bloomberg

IL had a tumultuous 2018, with prices rising to a four-year high in October before plunging more than $30 in the following months. Oversupply and demand worries are high on the concern list for the industry, making volatility a buzzword this year, as well.

There are other power dynamics at play. Organization of the Petroleum Exporting Countries’s Viennese waltz in early December was a perfect example of a shift, with Russia brokering a deal to curb output and sharing the reins with traditional leader Saudi Arabia. President Donald J. Trump’s tweets demanding lower oil prices and US shale producers pumping out unprecedented volumes of crude, threaten to undo all of Opec and Russia’s years-long work.

There are “major uncertainties” and forecasting trends in 2019 is “even more hazardous than usual,” said Neil Atkinson, head of oil markets at the International Energy Agency. Geopolitical uncertainty is a serious risk to the industry, according to Ryan Lance, chief executive officer of ConocoPhillips. Still, there is likely to be a lack of “shock and awe” in Opec policy, which could temper volatility, said Greg Sharenow, a portfolio manager at Pacific Investment Management Co. So, what will be the state of oil in 2019? Executives, money managers and analysts weigh in.

Ryan Lance, CEO of ConoccoPhillips “We expect oil markets to remain volatile, in part driven by flexible North American shale production that can ramp up and down quickly in response to changes in investment levels.

In order to thrive in this environment, given the short-cycle nature of shale, we believe it’s necessary to run an exploration and production business for sustained through-cycle financial returns, which is necessary for attracting investors back to the sector. Ours must offer investors both resilience to lower prices and participation in higher prices, and we’re doing that via an approach that rations capital across a low-cost-of-supply portfolio, competes on per-share versus absolute growth and pays out a significant portion of cash from the business to shareholders.

From the resource and production standpoints, North American shale continues to be a bright spot in the global energy industry. Shale has transformed the industry and will enable the US to stay positioned as the world’s No. 1 producer of both liquids and natural gas. We believe shale can drive the industry’s growth for many years.

Among the most serious near-term risks we see to the energy industry are geopolitical uncertainty and factors that could reduce global economic growth and energy demand.”

Greg Sharenow, portfolio manager, Pimco “There will be a stark change from the past four years for commodity investors, as one big driver of balance and prices will be notably diminished.

Specifically, Opec has moved from competing for market share in 2014 and contributing to materially lower prices to then reversing course two years later, dropping output sharply and contributing to rising prices. But 2019, in many respects, might be notable for the lack of shock-and-awe Opec policy as it shifts to an approach of limiting any surplus or deficit. This has some meaningful implications for markets and expectedly realized volatility.

Opec’s decision should lead to a gradual stabilization of Brent prices and, dare one say, a return to a lowervolatility environment. That said, there are known unknowns that could upend the best-laid plans, such as: Whether the US is able to continue to exceed production expectations; whether the slowdown in the global economy devolves into something worse, or if policy-makers can help

change the trajectory; and how effective additional US pressure on buyers of Iran crude will be, with the current set of waivers set to expire late in the second quarter of 2019 (conveniently just after the next Opec meeting).

In addition, at the end of 2019, the International Maritime Organization is set to restrict sulfur content in marine fuels, offering additional potential support to lighter, lower-sulfur crude oils such as Brent. Currently, we see these risks as roughly balanced around our baseline and quite manageable for Opec.”

David Lebovitz, VP and global market strategist, JPMorgan “Will we see more responsible behavior from producers in shale as we go into 2019. It does seem like they are becoming more disciplined in how they pump, how they invest and so the chances of a supply glut like we saw a few years back are not our base case.

“Obviously what happens to Opec, and the decision by Qatar to remove itself from Opec and focus more on natural gas, is an interesting smoke signal that perhaps not all is alive and well, and you could perhaps see more fragmentation. It just feels like there is a bit of divergence in interests among that group. And my guess, given the state of politics globally, this is a situation or backdrop that could deteriorate going forward.

“So in a world where hopefully the US has some pumping discipline and Opec isn’t as effective in curbing production as they have been, all eyes will be back on the US as we make the transition.

“It will require a psychological adjustment on the part of both consumers and policy-makers. Because as we’ve seen, when the oil patch comes under pressure, employment comes under pressure and investment spending comes under pressure. So while we are still a consumption-driven economy with 70 percent of GDP coming from the consumer, we need to be sensitive that an increasing number of consumers have a more direct tie to the oil industry than previously.”

Neil Atkinson, IEA’s head of oil markets “Forecasting trends in the oil market for the new year looks to be even more hazardous than usual. There is a long list of uncertainties on the demand and supply side of the balance.

As the new year progresses, the implementation in 2020 of new marine fuel regulations by the International Maritime Organization will draw closer. We will learn whether the shipping and refining industries are prepared for this major regulatory change without serious disruption to the fuel market.

For supply, there are many complicating factors: the recent agreement

by Opec countries and 10 non-Opec producers to cut oil production will, if it is successful, help to re-balance an oil market that was becoming oversupplied. We will see what the US decides with respect to the second round of waivers for Iran’s oil customers. Will we see a significant further decline in production from Venezuela? Will Libya manage to maintain production or will it fall victim to more regular interruptions?

These are major uncertainties.

What the IEA hopes is that the market is able to operate in 2019 without the very high volatility we saw in 2018. It was not good for consumers to see oil prices above $85 a barrel as we did in early October. But neither is it good for producers for prices to fall to $55 a barrel, as this will inhibit investment in much-needed new production capacity.”

Friday, January 4, 2019 A7

If we can so misunderstand, then why have we invented the word “Love” in the first place?—Peter to Jerry in Edward Albee’s “The Zoo Story”

A

LBEE has nothing to do with my story about the New Year.

But the “zoo” has everything to do with how many of us confront, face the near future, and how we prepare ourselves for the coming year. It has to do with animals.

The firecrackers were few this year. In the old hotel where I stayed for Christmas Eve, there were e-firecrackers: bunches of what looked like lethal strings of the most threatening tiny bombs that cracked and crackled without smoke. While this was happening, the bellboys and other hotel staff were covering their mouths and ears. I looked around where the metallic hiss was coming and it was from that red contraption mixed with the tinsels looking over a huge, lonesome reindeer. Or was it a caribou?

Many things have changed except the narrative of animals who, as the plot unraveled, were called to the side of Buddha. Up to now, I cannot understand why an enlightened teacher would summon animals if only to concoct a cocktail of plots that would make use of zoology as destiny. Was it Freud who said “biology is destiny?”

I am confused. I must admit I am dazed. The arrival of the new year causes us to be alert when we start writing the dates to any document we create. Be it an essay or a poem hurriedly inspired by the obscenities of a leader, or a letter written just for the sake of exercising one’s fingers and hand—the need to write the date is an obligation, almost a compulsion, a desire to be correct. So, as we face the white screen or, on rare and

lovelier occasions, a blank sheet of paper or, even rarer and more majestic, an expensive parchment, the duty of every writer is to those three short words and number. Write the month first, then the date, and finally the year now changed. It takes a while to get used to writing down “2019.”

Like love, the old year is difficult to shake off, for bad or good.

For every arrival of a new year, memories of a grandmother who believed in taboos and rituals of avoidance come back not to haunt me—for that is cliché—but to guide me. Do not oversleep or you will be oversleeping the whole year. She uses the old term from Ticao Island, mamulaan.

Almost like a corollary to Emilia’s belief system was my father’s contribution from the lakeside town of Buhi. His voice, with such a terrific homegrown adeptness at old sayings, is clear still: Never wake up when all the dew on the leaves had already dried up.

But there was also a grandfather— Elpidio—who never believed in any of this. This grandfather who talked of ritual kidnapping when he was a strapping young man was a Mason.

He balanced for me the Space.

So, my New Year complex of beliefs is original. I am mighty proud of this.

I am, however, alone in this faith enterprise. When New Year comes,

the botany takes over first before the zoology. Fruits are unwilling victims in luring a Universe to reveal itself. Interesting is how these fruits should be round. Does this tradition of thoughts disqualify the strawberries as fruit of good omen?

What about the atis or sugar-apple?

With its rough, segmented surface, what chances are there that this extraordinarily ordinary of fruits can whisper to our cosmic ears the fate of the days to come? And, who do we offer these fruits of Circumstance to? Do we eat these offerings or are these what Faith causes “boys to pile new plums and pears/On disregarded plate?”

But as soon as the fruits are eaten, discarded as rotten or forgotten, the animals rise to the occasion. And so, this year is the Year of the Pig. Happy and fortunate, that is the Pig of this reading. To the person born during the Year of the Pig—1959, 1971, 1983, 1995 and so on—one is said to be not romantic but warm, not a good conversationalist but good with people and so on.

Then there is the notion of what goes well with pigs. Let me rephrase that: What person born under the aegis of other animals go well with those born in the Year of the Pig. As the auguries go, Pigs are compatible with Goat, Rabbit and Monkey.

I don’t know with you, but I am not about to put my stake in identities

The end of cruelty begins with us Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

M

Y dear brothers and sisters, much like the previous years, we were still surrounded by cruelty in 2018. Not a day came by that we have not heard of any news regarding conflict, injury and even killings. Has cruelty become so normal in our society?

Three days before Christmas, Ako Bicol Party-list Rep. Rodel Batocabe was murdered while attending a giftgiving activity near a school in Daraga, Albay. Alongside him was his security escort, who was also killed.

Until the day this column is being written, the perpetrators of the crime are still at large.

In the morning of the same day that Mr. Batocabe was killed, a former mayor from Bukidnon was also shot, killed by unknown gunmen while he was getting in his car. On the very same day in Taysan, Batangas, a barangay captain was shot

multiple times by three suspects while he was in his garage. These murders occurred within the same day. (Not to mention the thousands of others killed in the ongoing war against drugs).

Cruelty is destroying our families and society as a whole. It is breaking the life and innate dignity of man, as well as the hopes of those who have been killed and their loved ones. Even our faith is challenged still, while cruelty is surrounding us. There are circumstances that we seem to be paralyzed in the face of the spreading cruelty and killings around us.

And sometimes, there are those in favor in using cruelty as a solution against what they see as wrong, and this causes the separation within our community, as well as our families.

There is not much we may do but to face the issues of cruelty and cut it from its roots. It is an obligation of every Christian that values the life and dignity of his fellowmen. Nevertheless, it is not easy, especially if those whom we trust to keep the peace and prosperity in our surroundings are also clinging to cruelty. It is not easy because cruelty seems to be celebrated or romanticized in movies, television shows, even in songs and modern pastimes such as video games. Cruelty is rubbing off in our spirit.

But the breaking of this culture of cruelty starts within us. Cruelty itself is rooted within our core, where anger, hatred, hopelessness and apathy cultivate feelings and dispositions that push us to become cruel toward our fellowmen.

This is why taking the path toward peace starts with discovering our own personal duties for peace, our respect toward life and dignity of men, and the action of a peaceful

circumscribed by animals. Believe me, I subscribe in transcendence but I find it difficult to transcend this earth as I look into the eyes and wide ears of a pig, however the latter can stand for good fortune and wealth.

As the New Year rolls in, I’d rather look up to the stars. Those twinkling eternities that seduce prognostication and romance. But a point of clarification, I shall not venture a reading of how these stars are positioned.

Some of them may be constant and some may constellate. I don’t care.

I am for the stars that mystify, the ones that look down upon us all and convince me there are mysteries that cannot be written down. They are the stars (supplemented by the Moon) as simple, as difficult, and as dense as those of Emily Dickinson’s, the ones she spoke of: But, Moon, and Star,/Though you’re very far—/There is one—farther than you—/He—is more than a firmament—from Me—/ So I can never go!

As for Albee’s story of the zoo, it has, after all, something to say with the New Year. More than the animals and even more than the stars, more than all the imagined shapes of pigs and more than what the horoscopes can contend with the mere holographs of the Truths out there, Love and its companion, Understanding, are all that matter for the Universe not to stop expanding.

E-mail: titovaliente@yahoo.com.

society due to the prevalence of justice. If we see and accept our personal duties in strengthening our society, we will not contend with anything that may destroy us with cruelty.

We may not be able to answer the question: “When will the cruelties in our nation stop?” We may say that it starts within ourselves. A beautiful reminder as told by St. John XXIII at the Pacem in Terris: “The world will never be the dwelling place of peace, till peace has found a home in the heart of each and every man, till every man preserves in himself the order ordained by God to be preserved.”

My brothers and sisters, this New Year, may we become more fearless in protest against cruelty in our nation, community, family and even in ourselves. Because Jesus Christ Himself once said, “Blessed are the peacemakers, for they will be called children of God” (Matthew 5:9).

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

Apple’s China iPhone woes were foretold in Japan

By Anjani Trivedi Bloomberg Opinion

T

HEY told you so, Apple.

Japan’s machinery makers gave Apple Inc. CEO Tim Cook a warning well in advance about what he didn’t seem to know: Chinese smartphone demand was plummeting. The iPhone maker blamed China for a cut in its revenue forecast on Wednesday, which sent fresh ripples through the company’s long chain of suppliers across Asia. Apple “did not foresee the magnitude of the economic deceleration, particularly in Greater China,” it said in its release.

Fanuc Corp., whose robomachines make the metal casings on iPhones, has been fretting about demand in China for a while. Understandably so. Fanuc’s Chinese orders, which account for around 20 percent of sales, were down 40 percent in the second quarter from a year earlier. Declining sales of its iPhone-making Robodrill were a good indicator of what was happening to smartphone demand.

The company and its peers have been waiting for orders from China to bottom—not just for electronics but also autos and general machinery. The country was the first of their markets to decelerate and head south. Japanese

machine tool orders from China declined 70 percent in November from a year earlier. They had been slowing since March. Absolute order levels for electronics machinery, which are highly volatile and dependent on the timing of iPhone model releases, are almost down to the 2013-2014 trough and only slightly ahead of 2016 and 2017. Orders for all other types of machinery have plunged, a sign that the downturn may last for a while.

The faltering outlook for Chinese demand has companies and investors on tenterhooks—after all, consumers there have buoyed sales for many global firms. Some are drawing comparisons

to the sharp pullback in 2015 and 2016, when the broader economy was deteriorating. The difference this time is that consumers are flinching too.

Manufacturers that supply parts to the likes of Apple aren’t doing that badly. While they may not be buying equipment, their industrial utilization remains “healthy,” as Bernstein’s Jay Huang points out. Still, the US-China trade war has cast a pall over suppliers and hampered their ability to get credit.

How long it will take for confidence to return is anyone’s guess. But for those interested in gauging the prospects for Apple, keeping an eye on how the likes of Fanuc are doing in China may help.

2nd Front Page BusinessMirror

A8 Friday, January 4, 2019

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Senators back audit of Mutual Defense Treaty

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By Butch Fernandez

@butchfBM

MID a public call by Defense Secretary Delfin N. Lorenzana for a review of the 1951 Mutual Defense Treaty (MDT) between the Philippines and the United States, two senators with security backgrounds in the military and police supported an audit, but are ruling out abrogation of the treaty.

“[We need an] audit not only of the MDT but of all security, economic bilateral and multilateral arrangements long overdue in the light of the changing security, political, economic, social domestic and global landscape.”—Honasan

Sen. Gregorio Honasan said he supports President Duterte’s order, as conveyed by Lorenzana to Washington, to review the treaty.

At the same time, he said, the situation warranted an “audit not only of the MDT but of all security, eco-

nomic bilateral and multilateral arrangements long overdue in the light of the changing security, political, economic, social domestic and global landscape.”

A “congressional review intervention is important without prejudice to more expedient legally authorized Executive action,” added Honasan, who chairs the Senate Committee on National Defense and Security.

The vice chairman of the Senate Defense panel also weighed in with his support for the audit, but definitely ruled out any notion of abrogation.

Sen. Panfilo M. Lacson Sr. said, “I agree that a review of the MDT

is in order if only to adapt to the changing times and the apparent foreign policy shift under the Duterte administration.”

Lacson likewise noted that, “with the ratification of the 2014 Enhanced Defense Cooperation Agreement [Edca] the MDT has been effectively amended.” Nonetheless, he added, “a thorough study of the Articles must be undertaken by the Executive branch before the same is sent to the Senate for ratification.”

Referring to the Constitution’s mandate for the Senate as the treatyratifying body, Lacson continued, “We may have to exercise our role as senators when the new treaty is up for debates and deliberation.”

On whether the review should be meant to improve or abrogate the treaty between the two longtime defense allies, Lacson said the objective should be, “To improve or enhance and adjust to the existing conditions affecting our country’s national interest.

Definitely, not abrogate.”

Lacson, though, conceded the lack of material time for the review. “Given the very limited time left before the election period and considering the priority given to the budget bill, realistically, there is not much that we can accomplish except the bills already scheduled for bicameral conference and those up for plenary amendments.”

‘Lawyer vs Mislatel should have attended hearings’ Catriona Gray flies to NY after

By Lorenz S. Marasigan

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@lorenzmarasigan

F only the lawyer who is now blocking the third telco initiative was present during public hearings, discussions and forums, he would have no need of filing a petition before the Supreme Court seeking to nullify the whole selection process.

This was how Department of Information and Communications Technology (DICT) Acting Secretary Eliseo M. Rio Jr. answered the BusinessMirror’s query on the case filed by lawyer Marlon Anthony R. Tonson, who claimed in his

petition that the whole initiative was anticompetitive, exclusionary and unconstitutional.

Tonson also claimed that winning bidder Mindanao Islamic Telephone Corp. (Mislatel) Consortium —a group led by Davao-based businessman Dennis A. Uy and China Telecom Corp. Ltd.—is a danger to national security.

He cited the several bonds required of the participants under the terms of reference for the auction as “exclusionary,” “anticompetitive features” of the bidding rules that are also “offensive” to the Constitution, similar to what Now Corp. had been claiming since it backed

out of the selection process.

Essentially, the petition of Tonson seeks for his involvement in the earlier petition filed by Philippine Telegraph and Telephone Corp.

(PT&T), a disqualified bidder.

However, for Rio, who led the whole initiative, this petition would not have been filed if only Tonson was present during the public meetings where members of the oversight committee for the process were present to answer questions.

“All issues being claimed by the private lawyer in his petition to intervene have been addressed by the terms of reference of the selection process, which the stakeholders

participated in crafting. The petitioner has never participated in any of the public hearings, public discussions and forum, where the issues he is bringing out now has been fully discussed,” he said in a text message.

Rio added that Tonson “has no background on how the bidding rules were drafted” for he is asking the Supreme Court to order the Philippine Competition Commission (PCC) to review the bidding documents.

“When in fact, the inputs of the PCC were already included in the bidding documents,” he said.

helping Bicol flood aid drive

See “Mislatel,” A2

Palace: Still safe to travel to Mindanao after Cotabato blast

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HE Philippine government asserted on Thursday that, despite the deadly Cotabato blast before the New Year, it is still “very safe to travel to Mindanao.”

In a Palace briefing on Thursday,

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo played down the travel warnings issued by the United Kingdom and Australia as a “natural” reaction since they are concerned

NORTHEAST MONSOON AFFECTING LUZON AND VISAYAS as of 4:00 pm - January 3, 2019

with the welfare of their citizens.

“We cannot blame them if they had their own views; a blast happened in Cotabato but that is an isolated case. So insofar as the National Defense Secretary is con-

cerned, it’s very safe to travel to Mindanao,” he said.

The New Year’s Eve blast in a mall in Cotabato City left two persons dead and 34 others wounded.

The Philippine National Police has said that local terror groups could be responsible for the bombing.

Australia’s Department of Foreign Affairs and Trade has cautioned its citizens against traveling to some parts of Mindanao. “ R econ sider you r need to t ravel to easter n Mind a nao, and do not travel to central and western Mindanao, due to very high levels of violent crime, high threats of terrorist attacks and kidnapping. Martial law is in place in Mindanao until 31 December 2019,” its advisory read.

Meanwhile, the United Kingdom’s Foreign and Commonwealth Office also warned its citizens against all travel to Western and Central Mindanao and the Sulu archipelago because of terrorist activity and clashes between military and insurgent groups.

The advisory also included the south of Cebu province, up to, and including the municipalities of Dalaguete and Badian due to the terrorism threat.

The UK advisory also noted the public notice from United States Transport Security Administration (TSA) highlighting poor aviation security at Manila’s Ninoy Aquino International Airport (Naia).

Among the areas of concern cited by the TSA were inadequate staffing for the screening of passengers and luggage, inadequate landside security measures, contingency plans, vehicle screening, upgrading of x-ray machines and the installation walk-through metal detectors and alarm systems, among others.

Miaa General Manager Ed V. Monreal has assured the public that his agency “continues to adhere to internationally accepted security protocols and standards...There is no cause for alarm. There is nothing among these recommendations that cannot be addressed.”

Bernadette D. Nicolas

MISS Universe Catriona Gray gets busy with her mobile phone while waiting for her flight to New York late Wednesday evening. CONTRIBUTED PHOTO

By Recto Mercene @rectomercene

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EWLY crowned Miss Universe Catriona Gray flew to New York City on Wednesday night on board Philippine Airlines (PAL) flight PR 126 after spending Christmas and New Year in the country. She was originally scheduled to depart last December 20, 2018, but for unknown reasons her flight was rescheduled to January 2, 2019.

Gray left the Ninoy Aquino International Airport (Naia) Terminal 2 past 9 p.m. accompanied by some pageant organizers to start her duties as reigning Miss Universe.

Gray arrived at Terminal 2 three hours ahead of her scheduled depar-

Peso. . .

Continued from A1

The peso’s weakest point was in October, when its average trade value reached 54.009 to a dollar.

In the first few weeks of 2019, however, analysts said they expect no “big movements” in the foreign-exchange market as traders are projected to be cautious during the period.

Economists at ING Bank believe that the general tone for the beginning of 2019 is a “wait-and-see” stance as caution will likely dominate trading across the globe.

“Markets begin 2019 on a cautious tone with traders looking for fresh leads amid a slew of economic data releases out from the United States later in the week,” ING Bank economists said in a recent report.

For global players, ING Bank said international markets will look to any developments on the US government shutdown and US-China trade relations for leads.

ture and spent the time waiting at the predeparture lounge. She took off her high heels to put on the knee-high boots better suited to the freezing temperature in the Big Apple.

She spent Christmas and New Year in the country after winning the Miss Universe crown last December 20. She rescheduled her departure to January 2, 2019, and went on to ask donations for the victims of Tropical Depression Usman in hard-hit Bicol, the home region of her mother.

Gray is the fourth Filipina Miss Universe after Gloria Diaz (1969), Margie Moran (1973) and Pia Wurtzbach (2015).

It was former Gov. Chavit Singson who arranged for Catriona’s return to the country from Bangkok, Thailand.

For the Philippines, traders are awaiting the upcoming inflation data set for release on Friday.

Accelerating inflation was a recurring problem in 2018, with its peak reaching 6.7 percent in September and October.

The Bangko Sentral ng Pilipinas (BSP) earlier said inflation in December will likely be “a different story,” as the growth of consumer prices will likely fall below 6 percent during the month, following bouts of rate hikes and the government’s nonmonetary policy actions.

In its monthly inflation forecast, the BSP Department of Economic Research said inflation is likely to fall within 5.2 percent to 6 percent in December 2018. BSP-DER said its forecast largely hinges on the marked decline in global oil costs, as well as lower rice prices.

“The sustained slowdown of inflation during the month is seen to be driven mainly by the continued decline in petroleum and rice prices, the rollback in minimum jeepney fare and the slight appreciation of the peso,” the BSP-DER said.

Companies BusinessMirror

Editor: Efleda P. Campos

Friday, January 4, 2019

B1

PCC to roll out 3 programs vs cartels, unfair competition

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By Elijah Felice E. Rosales

@alyasjah

HE Philippine Competition Commission (PCC) is set to roll out this year three programs intended to strengthen its campaign against cartels and anticompetitive practices.

tion body will be endorsing its proposed Rules on Inspection Orders or dawn raids to the Supreme Court.

On top of these programs, the PCC will be carrying out a task force on the biddings of infrastructure projects listed under the government’s “Build, Build, Build” program.

“With the Office of the Ombudsman and the Commission on Audit as key partners, the commission will adopt a tripartite action plan and formally constitute a joint task force to investigate bid rigging in public procurement. As the government ramps up its Build, Build, Build program, ensuring a clean selection process in public procurement is key to extracting the best value for our taxpayers’ money,” Balisacan said.

The young agency also looks to mainstream its programs and the PCA itself this year, after seeing little improvement in the public awareness on both the body and the law.

According to the year-end report, household awareness of the PCC rose

to 4.1 percent last year, from 0.5 percent in 2017, and of the PCA to 0.99 percent from 0.4 percent.

“These figures indicate the need and opportunities for more targeted competition advocacy efforts among the commission’s stakeholders. Again, keeping in mind that advocacy is a cost-effective way of preempting anticompetitive conduct, the commission is committed to its objective of mainstreaming a culture of competition, not just among consumers and businesses, but among the members of Congress, sector regulators and the Judiciary, as well,” Balisacan said.

The PCC also vowed to implement a multiyear work plan to review laws, bills and regulations that hamper competition.

“As the nation’s competition champion, the commission shall be more proactive in its engagement with Congress and sector regulators by reviewing existing laws and regulations that restrict competition in various markets,” Balisacan added.

In his year-end report, PCC Chairman Arsenio M. Balisacan said the three programs are aimed at sharpening the competition law’s tooth.

These three items—Leniency Program, Rules on Forbearance and Rules on Inspection Orders—are critical components expected to strengthen and complete the PCC’s enforcement framework, Balisacan added.

“This January 2019, we will be rolling out the commission’s Leniency Program. This program is ex-

pected to significantly improve our ability to detect cartels and increase the number of cartel investigations in the coming years,” he said.

“To use our enforcement resources more efficiently, we will be issuing the Rules on Forbearance, which will allow an entity or group of entities to be exempted from certain provisions of the PCA [Philippine Competition Act] under very specific circumstances and stringent conditions,” Balisacan said.

The PCC chief said the competi-

SM, CGC may jointly hold hot-air balloon fiesta in Clark

Apple cuts outlook as Chinese slowdown hits iPhone demand

By Ashley Manabat Correspondent

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LARK FREEPORT—Plans are afoot for SM Supermalls owned by SM Prime Holdings Inc. and Clark Global City (CGC) owned the Udenna Group of Davao businessman Dennis Uy to hold the hot-air balloon fiesta here in March.

This developed after the Philippine International Hot Air Balloon Fiesta (PIHABF) led by Capt.

Joy Roa recently canceled the annual event due to lack of government support.

Serafin Tolentino, one of the organizers of the Lubao International Balloon Festival (LIBF) who is privy to the negotiations, said the two private corporations in partnership with the Bases Conversion and Development Authority (BCDA) and its subsidiary the Clark Development Corp. (CDC) are in the thick of plans on how to conduct the hot-air balloon fiesta here with limited flight capabilities.

This means that only tethered hot-air balloons will fly, Tolentino said. The event is planned in the first week of March behind the SM City Clark at the sprawling area of the 177-hectare CGC, now being advertised as the next center of economic growth in the country.

Tolentino said the flight activities at the Clark airport cannot be compromised with a “Notice to Airmen [Notam]” to allow the hot-air balloons to fly with the wind, thus the tethered dirigibles.

However, Tolentino said the Lubao International Hot Air Balloon Festival is set on April 5, 6 and 7 at the Pradera Verde in Barangay Prado Siongco in Lubao, where balloonists from all over the world are set to participate.

Meanwhile, the PIHABF, held annually every February in this free port for more than two decades, has been canceled for this year.

The organizers of the event said the holding of the annual spectacle did not push through this year due to lack of government support.

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PPLE Inc. cut its revenue outlook for the first time in almost two decades, citing weaker demand in China, triggering a slump for Asian suppliers and a wave of lower price targets on Wall Street.

Apple CEO Tim Cook said sales will be about $84 billion in the quarter ended December 29, down from earlier estimates of $89 billion to $93 billion. Apple posted sales of $88.3 billion in the fiscal first quarter a year earlier, so the new forecast would mean Apple is reporting a holiday quarter slowdown for the first time since Cook became CEO in 2011. The news sent its stock down as much as 8.5 percent in extended trading.

The announcement, made in a letter from Cook to investors, comes after weeks of signals from inside Apple and its supply chain indicating the Cupertino, California-based company is struggling to sell the latest iPhones released in September.

The flagship product earns Apple about two-thirds of its revenue, and allows the company to generate more money from attached products like Apple Watches, AirPods, and services like Apple Music.

“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Cook wrote.

Greater China, a region that includes the mainland, Hong Kong and Taiwan, accounted for most of the revenue shortfall, but iPhone upgrades also weren’t as strong as the company anticipated in some developed markets, Cook said.

“The fact that they missed that wasn’t the shock,” said Daniel Ives, an analyst at Wedbush Securities.

“It was the degree and how confined it was to China. The fact that China basically fell off a cliff was a

jaw dropper, and combined with the lack of metrics, it makes investors feel like they’re walking blindfolded in the dark.”

Suppliers in Europe and Asia slumped on the news. AMS AG, which produces optical sensors for mobile phones, fell as much as 19.4 percent in Zurich, and Dialog Semiconductor Plc., which makes power-management components, fell as much as 8.5 percent in Frankfurt.

SK Hynix Inc., a producer of memory for Apple, dropped 4.8 percent in Seoul while Samsung Electronics Co., which makes chips and displays, fell 3 percent. IPhone assembler Hon Hai Precision Industry Co. lost 1.7 percent and rival Pegatron Corp. slipped 1.2 percent. Taiwan Semiconductor Manufacturing Co. fell 1.8 percent.

Several key Apple suppliers overseas had cut their revenue estimates during the past few months, suggesting something was amiss.

In November, the company said it would stop reporting unit sales of iPhones, iPads and Macs beginning in fiscal 2019. That sparked concern Apple wanted to avoid disclosing weak growth numbers. Apple’s stock had fallen 32 percent from an October peak to its close of $157.92 on Wednesday amid growing concerns about the iPhone.

In December, Bloomberg News reported the company was facing a “fire drill” to boost iPhone sales.

That led Apple to aggressively market the iPhone XR on its web site for $449, about $300 less than its official sticker price. The deal required customers to trade in an iPhone 7 Plus, a high-end handset from two years earlier.

At least four Wall Street firms, including BITG and RBC, lowered their share price forecasts by more than 15 percent after Cook’s letter.

In his letter, Cook said the new

iPhone models were released earlier than the flagship iPhone X last year, which created a difficult yearover-year comparison. The iPhone X launched in November 2017, while the iPhone XS and XS Max were released in September. Cook also noted supply constraints to new models of the Apple Watch, iPad Pro and AirPods.

“IPhone upgrades also were not as strong as we thought they would be,” he said, meaning the sales of new models to current customers replacing their old phones.

The CEO attributed much of the company’s “shortfall” in its outlook to struggles in China that he pinned on the economy and “rising trade tensions” with the US. “As the climate of mounting uncertainty weighed on financial markets, the effects appeared to reach consumers as well, with traffic to our retail stores and our channel partners in China declining as the quarter progressed,” Cook said.

The timing of Apple’s announcement blaming its shortcomings partly on President Donald Trump’s trade war with China may increase pressure on American officials to ease the tensions quickly. Mid-level officials from the Trump administration are scheduled to travel to Beijing for talks early next week.

While iPhone revenue accounted for the forecast cut, Apple’s other product categories, including the iPad and services, grew a combined 19 percent year-over-year, he said.

Services generated $10.8 billion in revenue for the quarter—a 27-percent increase from a year earlier. Apple’s decision to cut its sales outlook, “isn’t a huge shock at this point,” said Shannon Cross of Cross Research. “It will be interesting to see how Apple shares react if there’s a China trade agreement.” Bloomberg News

Aqua Planet in Clark reopens Jan. 15

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LARK FREEPORT—Aqua Planet said it is reopening on January 15 after being closed for maintenance and other safety concerns for three months.

The reopening was announced with new ticket prices at P1,180 for adults and P980 for kids below 4 feet every weekend (Saturday to

Sunday) or weekday rates at P950 for adults and P750 for kids.

Senior citizens and persons with disability can avail themselves of their 20-percent discounts while infants are free of charge. However, online booking is yet to be announced.

Aqua Planet, now headed by acting general

manager Simon Jiang, has passed the third-party certification, which means it is now on a par with international standards in terms of safety.

BB International is the developer of the 10-hectare water theme park located at the northwest section of this free port. Aqua Planet is open from 9 a.m. to 5 p.m. daily. Ashley Manabat

PRICE OF WATER GOES UP IN METRO MANILA A volunteer fills up

containers lined up in Road 10, Tondo, Manila, showing the continuing need of residents in the country’s premier metropolitan area for clean and safe drinking water. Nongovernment organizations have been asking the government before the new year to stop private concessionnaires from increasing the water rates they are allowed under their contract with the Metropolitan Water Service System. News report said Maynilad and Manila Water have increased the rate of water from P0.64 to P1.48 per cubic meter due to last year’s inflation. NONIE REYES

Asia shares mixed, Shanghai down after Apple sales warning

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INGAPORE—Asian markets were mixed on Thursday after tumbling more than 1 percent on the first trading day of 2019. Apple downgraded its sales projections, citing slowing Chinese growth, hitting technology shares in South Korea and Taiwan. The Japanese yen, seen as a relatively safe asset, strengthened against the dollar, euro and several other Asian and European currencies.

Keeping score: South Korea’s Kospi lost 0.9 percent to 1,992.21 and Taiwan’s benchmark fell 0.7 percent to 9,492.42. The Shanghai Composite index dropped 0.1 percent to 2,463.78 and Hong Kong’s Hang Seng was down 0.5 percent at 25,000.87. Australia’s S&P-ASX 200 rebounded 1.4 percent to 5,633.40.

Shares fell in Singapore but rose in Thailand, Indonesia and the Philippines. Japan’s markets were closed.

Wall Street: A turbulent day on Wall Street saw stocks plunging before recovering and finishing slightly higher. Surveys by the China’s government and a major business magazine that showed Chinese manufacturing had slowed in December weighed on sentiment. Still, the broad S&P 500 index added 0.1 percent to 2,510.03 on Wednesday. The Dow Jones Industrial Average, which lost 398 points in the first few minutes of trading, closed 0.1 percent higher at 23,346.24. The Nasdaq composite rose 0.5 percent to 6,665.94. The Dow future contract was down 1.4 percent early Thursday and that for the S&P 500 lost 1.3 percent.

Apple release: Apple CEO Tim Cook said in a letter to shareholders released after markets closed on Wednesday that he expects the tech giant’s revenue for the Octo-

ber-December quarter to fall below internal and analysts’ projections.

Apple now expects revenue of $84 billion for the quarter, about 9 percent lower than the $91.3-billion estimate from analysts polled by FactSet. The official results will be released on January 29. Cook attributed most of the revenue drop to China, where the economy has been slowing and where US tariffs have been raised on more than $200 billion in goods, although the iPhone hasn’t been affected directly so far.

The company’s shares fell 7.6 percent to $146 in after-hours trading.

Analyst’s take: “A flight to safety following the series of aggravating releases since the turn of the year saw the rush into the yen this morning.

Doubling down on Asia markets for a second day today would be the latest downward revision in Q1 guidance from tech giant, Apple,” Jingyi Pan of IG said in a market commentary.

“The already shaky foundation for Apple owing to the likelihood of the company’s products being enlisted into the tariffs scuffle saw their latest move to lower revenue outlook packing a punch for share prices,” she added.

Energy: Oil prices, which have fallen about 40 percent since last October, settled after jumping at the start of the year. Benchmark US crude shed 92 cents to $45.62 per barrel in electronic trading on the New York Mercantile Exchange.

The contract jumped 2.5 percent to $46.54 per barrel on Wednesday.

Brent crude, used to price international oils, lost 61 cents to $54.30 per barrel. It added 2.1 percent to $54.91 per barrel in London.

Currencies: The dollar slipped to 106.90 yen from 108.86 late Wednesday. The euro rose to $1.1365 from $1.1344. AP

ICTSI unit gets carbon-neutral ISO certification

By Lorenz S. Marasigan @lorenzmarasigan

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NTERNATIONAL Container Terminal Services Inc. (ICTSI) subsidiary Contecon Guayaquil SA (CGSA) has been granted a carbon-neutral certification from the ISO. In a statement, José Antonio Contreras, who sits as chief executive at CGSA, said this makes the Latin American terminal the first seaport in South America to obtain such certification.

“This carbon-neutral cer tif ication awarded to Contecon Guayaquil is a testament of our firm and unbreakable commitment to preserve the environment in our own way,” he said.

Contreras said the certification shows the company’s policies are directed and translated toward greater sustainability initiatives.

“This certification highlights, above all, a conviction and responsibility to guarantee ecofriendly and sustainable operations with less

contamination to the environment,” he said.

ICTSI’s largest concession in Latin America, CGSA has repeatedly been recognized for its environmental efforts since 2010.

Anders Kjeldsen, ICTSI senior vice president and regional head of the Americas, noted that across all operations, the Enrique K. Razon-led company “is continuing its enhancement of energy-monitoring systems, expanding the use of next-generation energy-efficient cargo handling equipment and vehicle fleets, and developing productivity measures that ensures port efficiency as its move towards optimizing energy-efficient operations.”

“Beyond port efficiency, the ICTSI Group has been making substantial investments to ensure an environmental-friendly supply chain, with the long-term vision of being able to secure appropriate certifications for all ports—regardless of location, project age, or stage of development,” he said.

ICTSI’s portfolio of terminals and projects spans across Asia Pacific, the Americas, Europe, the Middle East and Africa.

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Companies BusinessMirror

Friday, January 4, 2019

PSE STOCK QUOTATIONS

January 3, 2019

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

ASIA UNITED 59.3 59.5 58.1 59.5 58.1 59.5 18880 1120339.5 BDO UNIBANK 129 129.5 128 129.5 126.8 129.5 2965070 379909284 BANK PH ISLANDS 94.95 95 94 95 92.5 95 1956650 184096302 CHINABANK 27.4 27.45 27 27.5 27 27.45 204400 5534755 CITYSTATE BANK 4.65 7.58 7.58 7.58 7.58 7.58 200 1516 EAST WEST BANK 12.16 12.18 11.9 12.18 11.9 12.18 523600 6342898 METROBANK 84.3 84.6 81.5 84.6 81.5 84.6 4170160 345640467.5 PB BANK 12 12.3 12.4 12.4 12.4 12.4 100 1240 PBCOM 18.4 20.2 20.2 20.2 20.2 20.2 100 2020 PHIL NATL BANK 42.65 42.75 43.4 43.4 42.5 42.75 27600 1180015 PSBANK 60.5 61 60 61 60 61 8270 497039 PHILTRUST 113.6 124.9 113.3 113.3 113.3 113.3 70 7931 RCBC 28.6 28.8 28.6 28.6 28.5 28.6 262600 7500140 SECURITY BANK 160.5 161 155.9 161 155.9 160.5 1078010 171959848 UNION BANK 63.8 64 63.6 65.95 63.6 64 2720 173833.5 BRIGHT KINDLE 1.46 1.48 1.47 1.48 1.47 1.48 59000 87080 BDO LEASING 2.13 2.14 2.1 2.14 2.08 2.14 280000 590790 COL FINANCIAL 15.8 16.2 16.2 16.2 15.8 16.2 2100 33940 FIRST ABACUS 0.61 0.72 0.72 0.72 0.7 0.7 120000 85180 FERRONOUX HLDG 4.48 4.49 4.59 4.59 4.43 4.48 332000 1490460 IREMIT 1.4 1.47 1.4 1.47 1.4 1.47 11000 15960 MEDCO HLDG 0.47 0.49 0.47 0.49 0.46 0.47 300000 141400 NTL REINSURANCE 0.88 0.9 0.87 0.9 0.87 0.9 494000 439050 PHIL STOCK EXCH 179 180 180 180 179 179 250 44880 SUN LIFE 1802 1849 1849 1849 1849 1849 30 55470 VANTAGE 1.13 1.18 1.13 1.13 1.13 1.13 4000 4520

INDUSTRIAL ALSONS CONS 1.24 1.28 1.28 1.29 1.28 1.28 25000 32080 ABOITIZ POWER 35.5 35.65 35 35.7 35 35.65 967200 34445655 BASIC ENERGY 0.249 0.255 0.255 0.26 0.246 0.25 3500000 886450 FIRST GEN 20.3 20.35 19.78 20.35 19.78 20.3 3203300 64599723 FIRST PHIL HLDG 64.7 64.75 64.4 65 64.4 64.7 45310 2934024.5 MERALCO 390 391 385.2 392 383.4 390 314170 122213418 MANILA WATER 26.8 26.95 27.3 27.3 26.7 26.8 613900 16451380 PETRON 7.67 7.76 7.7 7.81 7.67 7.67 2574100 19859513 PETROENERGY 3.6 3.65 3.66 3.75 3.6 3.6 451000 1642480 PHINMA ENERGY 1.14 1.15 1.16 1.16 1.13 1.15 7598000 8,710,470( PH RESORTS GRP 5.5 5.54 5.35 5.55 5.35 5.5 78800 427776 PHX PETROLEUM 10.94 11 10.74 11 10.74 11 51900 567208 PILIPINAS SHELL 47.15 47.2 47.35 47.5 47.05 47.2 363200 17135180 SPC POWER 5.6 5.64 5.49 5.64 5.49 5.64 562400 3133794 AGRINURTURE 16.64 16.78 16.98 17 16.62 16.8 462000 7788762 CNTRL AZUCARERA 16.5 17 17.94 17.94 16.5 17 4000 69842 CENTURY FOOD 15.22 15.48 15.48 15.48 15.42 15.48 57800 892990 DEL MONTE 6.31 6.36 6.38 6.38 6.3 6.31 12500 79406 DNL INDUS 11.06 11.18 10.96 11.18 10.84 11.18 2024600 22354812 EMPERADOR 7.09 7.1 7.1 7.1 7.07 7.1 2569300 18207854 SMC FOODANDBEV 81.5 81.7 81.95 82 80.55 81.7 79720 6491736.5 ALLIANCE SELECT 1.1 1.11 1.12 1.12 1.08 1.11 7211000 7946560 GINEBRA 25.25 26 25.15 26.65 25.15 26 6000 156235 JOLLIBEE 292 293 292.8 294.2 290.8 292 1665440 486226536 MACAY HLDG 8.8 9.67 8.5 8.8 8.5 8.8 3500 30577 MAXS GROUP 10.58 10.6 10.34 10.7 10.24 10.58 391400 4063950 MG HLDG 0.174 0.177 0.175 0.175 0.175 0.175 180000 31500 PEPSI COLA 1.33 1.34 1.34 1.34 1.33 1.34 1508000 2015710 SHAKEYS PIZZA 11.6 11.8 11.8 11.8 11.5 11.64 753400 8767912 ROXAS AND CO 1.94 1.98 1.89 2.01 1.88 1.98 777000 1524040 RFM CORP 4.85 4.9 4.9 4.9 4.9 4.9 2000000 9800000 ROXAS HLDG 2.76 2.79 2.68 2.79 2.68 2.79 15000 40840 SWIFT FOODS 0.125 0.127 0.126 0.128 0.124 0.125 490000 61760 UNIV ROBINA 128.4 128.5 127.5 128.8 127.2 128.5 980550 125876349 VITARICH 1.94 1.95 1.9 1.95 1.87 1.94 3840000 7362950 CEMEX HLDG 1.92 1.93 1.98 1.99 1.88 1.93 13400000 25815690 DAVINCI CAPITAL 6.42 6.6 6.37 6.41 6.33 6.41 40100 255215 EAGLE CEMENT 15.06 15.4 15.2 15.4 15.02 15.4 115900 1759692 EEI CORP 7.98 7.99 8 8.04 7.98 7.99 134300 1073979 HOLCIM 5.78 5.8 5.8 5.9 5.8 5.8 328500 1907173 MEGAWIDE 17.98 18 18.18 18.24 17.98 18 920500 16588560 PHINMA 9 9.1 9 9.1 8.23 9.1 67000 600050 TKC METALS 0.85 0.89 0.85 0.87 0.85 0.87 129000 111300 VULCAN INDL 1.62 1.63 1.55 1.63 1.54 1.63 4639000 7450260 CROWN ASIA 1.76 1.8 1.75 1.8 1.74 1.8 104000 184170 EUROMED 1.53 1.66 1.51 1.51 1.51 1.51 3000 4530 MABUHAY VINYL 3.15 3.28 3.18 3.28 3.16 3.28 5000 15940 PRYCE CORP 5.8 5.85 5.8 5.85 5.8 5.8 35700 207195 CONCEPCION 41 43.9 37.75 43.95 37.75 43.95 42000 1617615 GREENERGY 2.13 2.15 2 2.15 2 2.15 9120000 19,190,750( INTEGRATED MICR 10.7 10.72 10.86 10.9 10.56 10.7 1162000 12388864 IONICS 1.83 1.85 1.81 1.85 1.81 1.83 254000 464460 PANASONIC 5.73 5.83 5.83 5.83 5.83 5.83 1800 10494 SFA SEMICON 1.42 1.45 1.44 1.45 1.4 1.44 166000 238680 CIRTEK HLDG 30.95 31 30.8 31.55 30.5 30.95 275300 8517805

HOLDING & FRIMS ABACORE CAPITAL 0.68 0.69 0.64 0.69 0.64 0.69 75111000 50376900 ASIABEST GROUP 28.35 28.4 26.6 28.45 26.55 28.4 295100 8150885 AYALA CORP 924 925 913.5 932 907.5 925 687210 635455000 ABOITIZ EQUITY 55.7 56.5 54.75 56.5 53.35 56.5 1028870 57355705 ALLIANCE GLOBAL 11.88 11.9 11.9 12 11.88 11.9 5575900 66453378 ANSCOR 6.5 6.53 6.5 6.5 6.5 6.5 10700 69550 ATN HLDG A 1.44 1.45 1.44 1.46 1.42 1.45 10750000 15451590 ATN HLDG B 1.44 1.46 1.41 1.47 1.41 1.44 1204000 1743490 COSCO CAPITAL 6.86 6.88 6.77 6.91 6.76 6.88 891600 6131385 DMCI HLDG 12.86 13 12.62 13 12.62 13 4356300 56060238 FILINVEST DEV 13.2 13.24 12.78 13.32 12.5 13.2 2557700 33528104 FORUM PACIFIC 0.205 0.23 0.219 0.23 0.219 0.23 400000 89010 GT CAPITAL 1000 1005 989.5 1010 965.5 1005 153140 153031060 HOUSE OF INV 5.82 6.14 5.8 5.81 5.75 5.81 10500 60705 JG SUMMIT 57.65 57.7 55.7 59.7 55.65 57.65 2865230 164942474.5 LODESTAR 0.56 0.57 0.58 0.58 0.55 0.57 130000 72810 LOPEZ HLDG 4.01 4.08 4.04 4.08 4.02 4.08 1364000 5535360 LT GROUP 16.28 16.3 16.6 16.6 16.24 16.3 1412900 23,111,864( MABUHAY HLDG 0.59 0.6 0.58 0.6 0.56 0.6 831000 477660 METRO PAC INV 4.71 4.75 4.61 4.75 4.61 4.75 34839000 164297230 PACIFICA 0.037 0.038 0.037 0.038 0.037 0.037 4300000 160400 PRIME ORION 2.46 2.47 2.44 2.48 2.43 2.46 458000 1122030 PRIME MEDIA 1.18 1.22 1.18 1.22 1.18 1.22 103000 122070 SOLID GROUP 1.31 1.32 1.32 1.32 1.32 1.32 10000 13200 SM INVESTMENTS 940 958 915 958 914.5 958 689420 652288055 SAN MIGUEL CORP 147.9 149 147.3 149.8 147 149 226300 33602406 TOP FRONTIER 245.2 249.8 249.8 249.8 249.8 249.8 230 57454 WELLEX INDUS 0.27 0.275 0.26 0.28 0.26 0.275 23150000 6287450 ZEUS HLDG 0.208 0.22 0.225 0.226 0.225 0.226 80000 18030

PROPERTY ARTHALAND CORP 1.02 1.03 0.98 1.04 0.95 1.03 12492000 12571030 ANCHOR LAND 10.78 11.64 11.7 11.72 10.7 11.72 5400 58740 AYALA LAND 42.4 42.45 41.25 42.5 40.75 42.45 14316500 603966580 ARANETA PROP 1.71 1.75 1.72 1.73 1.71 1.71 53000 91440 BELLE CORP 2.39 2.4 2.35 2.41 2.35 2.39 1301000 3114150 A BROWN 0.81 0.82 0.78 0.82 0.78 0.81 1079000 861000 CITYLAND DEVT 0.87 0.88 0.86 0.88 0.86 0.88 29000 25340 CROWN EQUITIES 0.24 0.242 0.235 0.242 0.235 0.242 930000 220540 CEBU HLDG 6.04 6.45 6.4 6.45 6.4 6.4 30500 195210 CEB LANDMASTERS 4.23 4.26 4.14 4.26 4.14 4.26 534000 2247570 CENTURY PROP 0.425 0.43 0.425 0.43 0.425 0.43 3110000 1328100 CYBER BAY 0.38 0.39 0.395 0.395 0.38 0.38 190000 74400 DOUBLEDRAGON 18.22 18.28 18 18.48 18 18.22 394300 7199364 DM WENCESLAO 7.84 7.91 7.85 7.92 7.8 7.92 32600 255407 EMPIRE EAST 0.475 0.485 0.485 0.485 0.485 0.485 60000 29100 EVER GOTESCO 0.112 0.119 0.111 0.112 0.111 0.112 300000 33550 FILINVEST LAND 1.45 1.46 1.42 1.46 1.42 1.45 4999000 7229170 GLOBAL ESTATE 1.1 1.11 1.12 1.12 1.08 1.11 636000 697420 8990 HLDG 8.23 8.25 8.23 8.29 8.22 8.29 988000 8159792 PHIL INFRADEV 2.3 2.31 2.25 2.33 2.22 2.31 8078000 18437030 CITY AND LAND 0.85 0.93 0.86 0.86 0.86 0.86 10000 8600 MEGAWORLD 4.83 4.84 4.79 4.86 4.75 4.84 39510000 190748640 MRC ALLIED 0.445 0.45 0.445 0.45 0.435 0.45 14720000 6525900 PHIL ESTATES 0.475 0.48 0.46 0.48 0.455 0.48 1190000 561500 PRIMEX CORP 3.55 3.58 3.55 3.59 3.54 3.58 173000 614760 ROBINSONS LAND 21.35 21.6 21.1 21.6 20.45 21.6 1406600 30189165 PHIL REALTY 0.42 0.425 0.415 0.43 0.41 0.425 370000 154350 ROCKWELL 2 2.01 2.01 2.01 1.98 2 101000 201820 SHANG PROP 3.08 3.12 3.11 3.12 3.08 3.12 66000 204030 STA LUCIA LAND 1.24 1.26 1.25 1.26 1.24 1.26 1909000 2399490 SM PRIME HLDG 37.55 38 37 38 36.5 38 10397000 391460900 STARMALLS 5.48 5.49 5.34 5.49 5.34 5.48 106700 579198 SUNTRUST HOME 0.71 0.72 0.72 0.72 0.72 0.72 21000 15120 VISTA LAND 5.35 5.46 5.38 5.46 5.27 5.46 4816200 25963192

SERVICES ABS CBN 20.15 20.2 20.05 20.25 20.05 20.2 76800 1545270 GMA NETWORK 5.54 5.57 5.5 5.57 5.5 5.57 93600 518947 MANILA BULLETIN 0.37 0.38 0.37 0.37 0.37 0.37 30000 11100 GLOBE TELECOM 1888 1889 1900 1905 1885 1889 28555 53939565 PLDT 1157 1158 1139 1164 1134 1158 81120 93279400 APOLLO GLOBAL 0.039 0.04 0.04 0.04 0.039 0.04 3900000 153500 DFNN INC 7.01 7.38 7.2 7.47 7 7.38 10200 73045 IMPERIAL 1.88 2.01 2 2 2 2 5000 10000 ISLAND INFO 0.125 0.128 0.129 0.131 0.121 0.128 9530000 1183930 ISM COMM 6.05 6.06 5.92 6.1 5.86 6.05 4209800 25299539 NOW CORP 3.77 3.78 3.71 3.88 3.52 3.77 6902000 25838940 TRANSPACIFIC BR 0.445 0.45 0.45 0.45 0.43 0.445 32720000 14410750 PHILWEB 3.56 3.59 3.84 3.85 3.51 3.59 4577000 16647480 2GO GROUP 14.52 14.56 13.56 15.08 13.42 14.56 747000 10876526 ASIAN TERMINALS 14.02 15 14.68 14.68 14.02 14.02 7300 105856 CEBU AIR 78.2 78.5 74 78.75 74 78.2 395890 30341635 CHELSEA 6.57 6.58 6.43 6.6 6.41 6.57 980400 6409770 INTL CONTAINER 99.8 100 99.4 100 98.95 100 1086910 108529953 LBC EXPRESS 14.18 14.8 14.16 14.18 14.16 14.18 86400 1225148 LORENZO SHIPPNG 0.78 0.81 0.77 0.78 0.77 0.78 86000 66880 MACROASIA 17.88 17.98 16.98 17.98 16.98 17.98 2157100 38153202 METROALLIANCE A 2.03 2.04 2.06 2.06 1.95 2.03 213000 425560 PAL HLDG 7.85 8.33 8.33 8.33 8.33 8.33 500 4165 HARBOR STAR 3.22 3.23 3.01 3.25 3.01 3.23 3553000 11263360 ACESITE HOTEL 1.37 1.38 1.33 1.4 1.33 1.37 191000 262020 GRAND PLAZA 10.28 12.78 10.26 11.04 10.26 11.04 800 8286 WATERFRONT 0.77 0.78 0.77 0.79 0.75 0.78 9390000 7243700 FAR EASTERN U 890 900 900 900 900 900 10 9000 IPEOPLE 10.36 11.4 11.48 11.48 11.48 11.48 200 2296 STI HLDG 0.81 0.82 0.77 0.83 0.75 0.82 26864000 21117940 BERJAYA 3.54 3.55 3.43 3.68 3.14 3.54 11836000 41013200 BLOOMBERRY 9.84 9.87 9.65 9.95 9.65 9.87 5667600 55826808 PACIFIC ONLINE 9.82 9.99 9.85 9.99 9.82 9.82 4100 40632 LEISURE AND RES 3.2 3.31 3.19 3.33 3.17 3.2 1212000 3922340 MANILA JOCKEY 5.17 5.18 5.3 5.3 5.18 5.18 48500 251493 PREMIUM LEISURE 0.8 0.81 0.8 0.82 0.78 0.81 3511000 2817460 TRAVELLERS 5.32 5.33 5.3 5.35 5.26 5.33 2190500 11634114 METRO RETAIL 2.49 2.5 2.5 2.52 2.48 2.5 1821000 4554620 PUREGOLD 45.05 45.15 43 45.7 43 45.15 9799500 433851685 ROBINSONS RTL 83.5 84.8 81.75 84.8 80 84.8 255120 21112344 PHIL SEVEN CORP 112.2 123 123 123 122 123 538420 66225610 SSI GROUP 2.51 2.53 2.43 2.55 2.43 2.53 12771000 31991900 WILCON DEPOT 12.9 12.96 13.1 13.12 12.88 12.9 5945400 76815130 APC GROUP 0.41 0.42 0.41 0.42 0.41 0.42 240000 99200 EASYCALL 15.42 15.54 14.98 15.9 14.98 15.54 62800 960766 GOLDEN BRIA 316 325 323 325 316.8 325 520 168676 PAXYS 3.26 3.5 3.49 3.5 3.4 3.5 138000 482780 PRMIERE HORIZON 0.33 0.34 0.325 0.34 0.32 0.34 700000 226150 SBS PHIL CORP 7.42 7.48 7.78 7.78 7.48 7.48 216600 1620198

MINING & OIL ATOK 14.5 15.4 15.46 15.48 14.46 15.48 2000 30822 APEX MINING 1.66 1.67 1.68 1.72 1.66 1.66 7423000 12526280 ABRA MINING 0.0019 0.002 0.002 0.002 0.0019 0.002 306000000 611000 ATLAS MINING 2.8 2.81 2.69 2.83 2.68 2.8 546000 1510980 COAL ASIA HLDG 0.295 0.3 0.295 0.3 0.295 0.295 170000 50650 CENTURY PEAK 2.09 2.1 2.19 2.2 2.09 2.1 2782000 5881450 DIZON MINES 7.5 7.52 7.2 7.66 7.2 7.52 31700 235757 FERRONICKEL 1.68 1.69 1.69 1.69 1.66 1.68 933000 1569700 GEOGRACE 0.203 0.207 0.203 0.207 0.201 0.207 140000 28790 LEPANTO A 0.114 0.118 0.114 0.119 0.11 0.114 12070000 1395010 LEPANTO B 0.12 0.121 0.116 0.121 0.112 0.121 2620000 308670 MANILA MINING A 0.0071 0.0072 0.0071 0.0071 0.0071 0.0071 4000000 28400 MARCVENTURES 1.27 1.28 1.22 1.29 1.19 1.28 681000 852230 NICKEL ASIA 2.37 2.38 2.22 2.39 2.22 2.38 9927000 23351100 OMICO CORP 0.6 0.61 0.6 0.6 0.6 0.6 88000 52800 ORNTL PENINSULA 0.95 0.96 0.93 0.97 0.93 0.96 213000 201860 PX MINING 3.74 3.75 3.43 4 3.43 3.74 20887000 79214060 SEMIRARA MINING 24.15 24.2 23.2 24.3 23.2 24.15 1220800 29251285 UNITED PARAGON 0.006 0.0061 0.0056 0.0062 0.0056 0.006 30000000 180300 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 18300000 229400 PHILODRILL 0.012 0.013 0.012 0.012 0.012 0.012 3900000 46800 PHINMA PETRO 3.2 3.39 3.4 3.4 3.4 3.4 1000 3400 PXP ENERGY 15.68 15.78 15.72 16 15.5 15.68 962700 15181678

PREFFERED HOUSE PREF A AC PREF B1 AC PREF B2 DD PREF SMC FB PREF 2 FGEN PREF G MWIDE PREF PNX PREF 3A PCOR PREF 2B SFI PREF SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2I

94.55 455 473 95.65 971 100 98 99 1000 1.8 74.2 75.9 72 72.5 72.5 72

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.28 5.37 1.94

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.1 XURPAS 1.72

113.2

174940 -177800 -129579955 48217469 -35226280 6500 2800 -1026961 2547308 592002 48524085 90252976.5 -4244130 5,791,252.0003) 64959.9999 -75406340 -49000 56733805 -9657216 39968 -5000 141825415 -888290 119850 175365 -151920 -267150 855632 1617870 720270 -3500170 -76907450 545500 -81880 4619045 183043155 -8010 -11014055 -28066930 -16300780 53420 -399711 -531840 -3241750 -3330800 26752 -5640575.5 -14985768.5 10600502 276790 1148 -7176140 759760 -2107371 -1964 32100 830080 -57767 2500000 -39424240 -4146388.5 -7824030 -2675010 37696206 -108800 92130 -60000 -80420 222650 -20470 18750 3007400.0002 10381940 -2825620 -247174

96 455 475 98.8 971 100.1 98 100 1000 1.8 74.1 76.65 74.45 72 72.05 72.6

96 455 489 98.8 997 100.1 98 100 1000 1.8 74.5 76.65 74.45 73 72.05 72.6

95 455 475 98.5 971 100.1 98 99 990 1.8 74.1 76.65 74.45 72 72 72.5

95 455 489 98.5 997 100.1 98 100 990 1.8 74.1 76.65 74.45 73 72 72.5

3240 100 110 60 320 190 1000 1080 155 3000 1120 70 30 9250 3510 77440

307850 45500 52390 5919 316300 19019 98000 107600 154700 5400 83048 5365.5 2233.5 666900 252820 5614401

14500

18.68 5.44

18.32 5.36

18.7 5.42

18.24 5.36

18.68 5.42

225300 104200

4120812 561851

-939526 189108

1.97

1.9

1.98

1.89

1.94

244000

472280

-

5.11 1.73

5.27 1.67

5.28 1.74

5 1.66

5.1 1.73

1526000 6822000

7737065 11542700

225950 712340

EXHANGE TRADE FUNDS FIRST METRO ETF

4044390 10612839 -1209517 -6571318 -2635755 -10951457 10800 1,912,209.9997) -83624 -11892615 250740 665992 25520 8621734 -83849 -1667785 -89510 124292778 2640 -1244846 -1342250 -8342008 28500 -9800000 -77774402 910850 -5325330 -909269 -1879053 -3588880 223700 17900 -1003200 2,216,930.0002) 3537462 -4504845

95 456 489 98.5 997 102 101 100 1350 - 75.9 76.65 72.95 73 74.9 72.5

WARRANTS LR WARRANT

1040288.5 -51789207 5304746 -560185 -1485042 137978018 -89890 9001 -3399 -2855000 -72109366 -76698 -0 18000 -

114

112.1

114

112.1

114

11370

1287968

761214

Editor: Efleda P. Campos

Next Plc. offers Christmas retail cheer as investors seek reprieve

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EXT Plc. delivered a mixed report on Christmas season sales that cheered investors looking to end the year on a high note after months of struggle in the retail sector.

Strong sales in the weeks before Christmas helped make up for disappointing numbers in on November, the UK clothing retailer said on Thursday, a result that was better than some analysts anticipated. At

the same time, the company trimmed its estimate for 2019 profit.

Retailers were on edge through the end of last year after onlineonly Asos Plc. cut its sales forecast, and many in the UK discounted

heavily ahead of Christmas. Next’s performance may signal a reprieve for others in the sector—Marks & Spencer Group Plc. and Debenhams Plc.—that report later this month.

The shares gained as much as 7.1 percent in London, the most intraday since September 25. Other retailers including Marks & Spencer and Associated British Foods Plc. also rose.

Next reported a 1-percent gain in Christmas sales, though it extended the reporting period until after the holiday, muddying any comparison with last year’s performance. For at least the past five years Next has re-

ported Christmas trading to December 24. Much of that gain was based online, where sales grew 15 percent, compared to a 9-percent decline in stores. Retailers discounted heavily in the days ahead of Christmas, rather than wait for December 26 to kick off sales. Next held back from the price slashing, but didn’t cite it as a reason for the profit cut. Competitors that discounted more heavily will have to prove that extra sales made up for the thinner margins.

Next cut its profit forecast for the year to £723 million ($908 million) from £727 million. Bloomberg News

Lord & Taylor flagship store locks its doors forever

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EW YOR K—A fter 104 years, Lord & Taylor’s flagship store on Fifth Avenue locked its doors forever.

T he venerable depar tment store famed for its animated holiday windows closed down on Wednesday afternoon, ending a blowout sale that left whole floors empty. By the end, clothes that once sold for as much as $100 were going for $5.99, and $600 designer shoes for $99.

T he 11-stor y bui ld ing has been sold to the WeWork spaceleasing company for more than $850 million.

Forty-five other smaller Lord & Taylor stores remain open, mostly on the East Coast. In addition, Lord & Taylor-branded merchandise is being sold online through the Wal-mart web site.

Patty Conte said the Fifth Avenue location was her favorite store and she came on Wednesday “to do a last walkthrough.” She purchased some women’s shoes under a “buy one, get one free” offer, for a total of $25 plus tax.

For her, shopping online is not an option “because it’s important to feel the fabric and to try things on.”

The demise of the Fifth Avenue store reflects a shifting economy in which brick-and-mortar retail has taken a hit from online sales.

Hudson’s Bay Co., the Canadian corporate behemoth that has owned the brand since 2012, said it was closing the flagship and some of its other stores due to

an “increasing focus on its digital opportunity and commitment to improving profitability.”

Founded in 1826 on Manhattan’s Lower East Side, Lord & Taylor was one of the nation’s first big department stores, run by two English-born cousins, Samuel Lord and George Washington Taylor. The store occupied several locations before 1914, when it moved into the building that fills a whole Manhattan block on Fifth Avenue at 38th Street.

Alice Tawil paid a last visit— for the memories.

“I’ve come here many times, I’ve purchased many dresses, for family occasions, for weddings, for parties, bar mitzvahs, engagements, and I really did very well here,” she said. “It’s sad.... It’s very barren; only the first floor was open.”

Others were effusive—over a bargain bonanza of goods they brought home. One woman visited the store 21 times since the clearance sale started in November, buying dozens of dresses, plus furs, shoes, furniture, crystal, tables and other items.

The store was scheduled to close at 3 p.m., when customers were turned away. But the last door wasn’t locked until 3:22 p.m., giving those inside some extra minutes to exit.

When Conte walked out, she declared this wasn’t going to be her last trip to Lord & Taylor. “I live in West Hartford, and there’s another one there,” she said. AP

Ryanair passenger growth slowest since 2015 after strike turmoil

R

YANAIR Holdings Plc. posted another year of slower passenger growth as the discount carrier’s battle with unions, bad weather and industrywide air-traffic-control strikes took a toll.

Passenger numbers for the 12 months through December rose 8 percent to 139.2 million tickets sold, Ryanair said on Thursday. Even with the addition of Austria’s Laudamotion, the increase was smaller than 2017’s 10 percent and the 17-percent gain registered in 2016.

By comparison, smaller rival Wizz Air Holdings Plc. posted a 20-percent passenger jump in 2018. The Budapest-based upstart has stepped up its challenge to Ryanair and EasyJet Plc. by tapping faster growth in Eastern Europe and boosting its presence in key markets like the UK. In October, Ryanair cut its fiscal 2019 profit guidance by 12 percent, citing labor strife and fuel costs.

After a run-up early in the year, fuel prices have been decreasing— though some airlines locked in higher

prices via hedging and haven’t been able to take advantage of the drop.

Ryanair has suffered a spate of strikes, and the troubles with its unions aren’t over. Cabin crew in Spain have called for three days of strikes on January 8, 10 and 13.

The unions are meeting with the company on Thursday, although it is unlikely that they reach any agreement, Spanish union USO Spokesman Pedro Alzina said on Wednesday. The Irish airline cut 20,000 flights from last winter’s timetable following a pilot staffing crunch that also triggered the unionization push among crews, putting a brake on growth. Still, occupancy levels remain healthy with an average 96 percent load factor for 2018.

Ryanair shares were trading 0.8 percent higher at €10.61 as of 8:22 a.m. in Dublin; investors will be hoping for a better year after the stock dropped 29 percent in 2018, its worst performance since the global economic slump of a decade earlier. Bloomberg News

MUTUAL FUNDS

January 3, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 253 -13.72% 0.93% 2.72% 0.37% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.4383 -9.94% 7.07% 3.14% 0.85% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.9145 -14.78% 2.33% 1.1% 0.23% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.892 -12.24% N.A. N.A. 0.13% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.8262 N.A. N.A. N.A. 0.43% FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.2948 -11.94% 0.11% 1.99% 0.58% MBG EQUITY INVESTMENT FUND, INC. * ****** 117.39 N.A. N.A. N.A. -0.49% ONE WEALTHY NATION FUND, INC.* 0.8348 -15.84% -5.1% N.A. -0.04% PAMI EQUITY INDEX FUND, INC.* 49.3511 -12.5% 1.85% N.A. 0.04% PHILAM STRATEGIC GROWTH FUND, INC.* 515.72 -12.37% 0.65% 2.05% 0.13% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2578 -10.43% 2.37% N.A. 0.11% PHILEQUITY FUND, INC.* 36.7409 -10.6% 2.84% 4.62% 0.14% PHILEQUITY PSE INDEX FUND INC.* 4.9738 -12.34% 2.56% 4.43% 0.07% PHILIPPINE STOCK INDEX FUND CORP.* 830.95 -12.14% 2.34% 4.55% 0.07% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8622 -10.87% 0.26% N.A. 0.14% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 4.0753 -11.03% 2.15% 3.02% 0.27% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9572 -12.46% 2.38% N.A. 0.07% UNITED FUND, INC.* 3.5121 -8.87% 3.92% 3.6% 0.34% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* ***111.0748 -11.82% 3.47% 5.63% 0.08% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.9293 -15.79% 1.44% -0.67% 0.4% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1251 -11.07% N.A. N.A. 3.19% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6537 -11.27% -1.64% -1.07% 0% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.2132 -9.93% 1.23% 1% 0.16% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.5473 -8.04% -1.81% -1.13% 0.2% GREPALIFE BALANCED FUND CORPORATION* **** 1.3063 -10.22% N.A. N.A. 0.02% NCM MUTUAL FUND OF THE PHILS., INC* 1.8452 -7.16% 1.06% 2.16% 0.03% PAMI HORIZON FUND, INC.* 3.466 -11.54% -0.91% 0.99% -1.97% PHILAM FUND, INC.* 15.7411 -10.35% -0.51% 1.01% -1.08% SOLIDARITAS FUND, INC.* ******** 2.077 -7.49% 1.3% 2.79% 0.27% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6605 -8.41% 0.66% 1.59% 0.17% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.9247 -9.38% -0.05% N.A. 0.38% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03531 -2% -0.08% 1.72% 0.34% PAMI ASIA BALANCED FUND, INC.* $0.9325 -11.65% 1.19% -1.31% 0.77% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.3523 -8.23% 2.51% 0.82% 1.71% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0168 -8.58% N.A. N.A. 1.11% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 343.48 1.9% 2.09% 1.85% 0.03% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8594 -1.73% -0.95% -0.43% 0.14% COCOLIFE FIXED INCOME FUND, INC.* 2.9739 5.55% 5.56% 5.26% 0.12% EKKLESIA MUTUAL FUND INC.* 2.1312 1.31% 1.5% 1.51% 0.04% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2098 -0.28% 0.06% 0.15% 0.04% GREPALIFE FIXED INCOME FUND CORP.* P 1.5648 -2.78% -0.75% -0.49% 0.06% PHILAM BOND FUND, INC.* 3.7767 -6.75% -1.78% -0.68% -3.65% PHILEQUITY PESO BOND FUND, INC.* 3.5186 0.39% 0.37% 0.56% 0.15% SOLDIVO BOND FUND, INC. * 0.8928 -3.29% -0.88% N.A. 0.03% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7671 -0.34% 0.79% 0.85% 0.09% SUN LIFE PROSPERITY GS FUND, INC.* 1.5405 -0.57% 0.36% 0.44% 0.1% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $448.46 0.59% 2.33% 3.11% 0.04% ALFM EURO BOND FUND, INC. * Є212.73 -0.46% 1.06% 1.6% 0.06% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1256 -0.8% 0.94% 1.91% 0.03% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0249 -0.4% 0.82% N.A. 0% GREPALIFE DOLLAR BOND FUND CORP.* $1.6906 -4.57% -0.4% 1.15% 0.01% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0367 -3.48% -0.42% -2.27% 0.28% PHILAM DOLLAR BOND FUND, INC.* $2.1768 -3.3% 1.04% 2.77% 0.27% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0569941 -0.39% 0.89% 1.87% 0% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8732 -4.63% 0.3% 1.72% 0.06% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 120.9 2.81% 1.89% 1.58% 0.07% PHILAM MANAGED INCOME FUND, INC.* 1.175 1.51% 0.56% 0.39% -0.55% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2192 2.71% 2.28% 1.61% 0.05% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.016 1.73% N.A. N.A. 0.04%

* - 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

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Friday, January 4, 2019

B3

NG November debt up 11.8% to ₧7.195 trillion

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By Rea Cu @ReaCuBM

HE outstanding debt of the national government as of November 2018 has increased to P7.195 trillion, higher by 11.8 percent compared to the P6.437 trillion recorded in the same month for 2017, data from the Bureau of the Treasury (BTr) showed.

The increases were attributed to the rise in both the country’s domestic and external debt levels.

Month-on-month (MoM), the country’s outstanding debt posted a slight uptick of 0.4 percent coming from P7.167 trillion in October 2018.

Broken down, domestic debt inched higher by 11.9 percent to P4.707 trillion, from P4.208 trillion in November 2017; while debt from foreign financial institutions amounted to P2.487 trillion, higher by 11.6 percent than the P2.229 trillion in 2017.

“For the month, the registered increase in domestic debt was due

₧471.799B

The national government’s total outstanding guaranteed debt in November, a decline of 1.5 percent from P478.788 billion in the same month for 2017

to the net issuance of government securities amounting to P88.33 billion as the committee fully awarded Treasury bonds amid strong market demand. This was slightly offset by the appreciation of the peso that decreased the value of onshore dollar bonds by P0.57 billion,” the BTr

said in a statement on Thursday.

On a monthly basis, the government’s domestic debt posted an increase of 1.9 percent coming from the October level of P4.620 trillion, while external debt posted a contraction of 2.3 percent coming from P2.546 trillion in October 2018.

Meanwhile, the national government’s total outstanding guaranteed debt declined by 1.5 percent to P471.799 billion in November coming from P478.788 billion in the same month for 2017. MoM, this also posted a contraction of 2.7 percent from P484.711 billion.

“The reduction in NG guarantees was due to the impact of cur-

rency fluctuations on both dollar and third-currency denominated external guarantees amounting to P6.22 billion and P0.75 billion, respectively,” the BTr explained.

Domestic guaranteed obligations for the month amounted to P186.138 billion, a decrease of 4.6 percent from P195.024 billion in November 2017; while external guaranteed debt reached P285.661 billion, an uptick of 0.7 percent compared to the previous year’s level of P283.764 billion.

From the outstanding debt of the government for November, 34.6 percent was sourced externally and 65.4 percent, domestically.

Taguig now officially a debt-free city Gems of Gyeonggi T U HE Taguig City government officially became a debt-free local government unit for 2019, ending 2018 with its last payment on a P1.6-billion loan incurred by the previous administration.

A total of P1,226,609,848 in loans plus P388,859,293 in interest was incurred under the previous administration which Taguig City Mayor Lani L. Cayetano’s administration fully paid as of December 7, 2018, said Atty. Voltaire Enriquez, officer in charge of the City Treasury Office.

“We preterminated all our loans with LandBank because, by the end of 2018, Mayor Lani wanted that the next administration would not have to suffer the same fate she suffered when she took on the administration in 2010,” he noted.

According to Enriquez, to wipe clean the debt slate of the local government, the Cayetano administration set aside funds annually for the debts. To start in 2011, for example, P220 million of the P3,745,000,000 total budget allotted to Taguig went

to debt payment.

Eyeing a debt-free status, the city government avoided luxury and made sure funds were used efficiently, said Enriquez. “Take this example from the previous administration: imported mobile garbage bins that cost a debt of over P100 million.

We did not engage in those things.”

City Hall did not undertake the austerity measures at the cost of delivery of efficient and more expansive services, the official noted.

On the contrary, the administration continued to prioritize essentials, such as health, education and social services.

The previous P5-million budget for scholarships was increased by P100 million yearly from 2011 to 2016. In 2018 the budget for scholarships was at P650 million. Because of this investment, more than 47,000 post-high school scholars enjoyed free education in about 200 colleges and universities.

Students from all public schools in Taguig also enjoy free education.

Parents do not need to worry about paying any fee or spending for the needs of their children as the city provides free school uniforms, bags, shoes, emergency grab bags, hygiene kits and raincoats. New, modern and conducive buildings with airconditioned classrooms were also constructed in public schools.

In health, pioneering programs were introduced such as Super Health Centers which are open 24/7, door-to-door delivery of maintenance medicines for asthma, hypertension and diabetes, as well as other medical equipment like wheelchairs, crutches and hearing aids, doctors who are ready to respond to any medical emergency at any time through the Doctor-On-Call program, therapists and nurses who visit bedridden patients in their homes through the Home Health program, and door-todoor anti-rabies vaccination for cats and dogs, among others.

Senior citizens’ birthday cash gift was increased to as much as P5,000, and senior citizens get free eye

checkups and prescription glasses through the Oplan Linaw program.

Similarly, Persons with Disabilities (PWDs) are given birthday cash gifts and provided with jobs to help them sustain their daily needs. Burial assistance was also increased to P20,000.

Attaining the debt-free status while delivering more services was made possible not only with proper budgeting and expenditure but also by increasing revenues, said Enriquez. Taxes were not raised but steps were taken to improve collection and provide an investmentfriendly environment.

The city started the yearly Business One-Stop Shop which allows for processes for renewing business licenses and registrations to be streamlined. The BOSS has earned a Blue Certification Award from the Office of the Ombudsman indicating that it passed the anti-graft agency’s standards to hasten the process and provide ease in doing business in Taguig.

BSP holds first FinEd stakeholders’ expo

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EY STAKEHOLDERS, leaders, decision-makers, influencers and representatives from public and private institutions, development partners, international organizations, civic society and the academe convened at the SMX Convention Center Manila recently for the first ever Financial Education Stakeholders Expo organized by the Bangko Sentral ng Pilipinas (BSP).

In her keynote address, BSP Deputy Governor Chuchi G. Fonacier said: “We are all stakeholders with significant roles to play to achieve an obvious public good—a high level of financial literacy in the Philippines… We want this generation, and the next ones, to be highly literate and financially capable to attain prosperity. We have the collective ability to make this happen.”

Education Secretary Leonor Magtolis-Briones, in her keynote, likened the 800,000-strong DepEd personnel to an “army,” underscoring their significant role in teaching young learners the value of prudent money management, and the importance of being models of financial literacy themselves.

In the spirit of partnership, the Expo was supported by Asian Development Bank, Bank Marketing Association of the Philippines, The Praxis Co. and Visa Foundation. Expo activities included talks on financial stewardship by well-known personal finance coaches and advocates, such as Francis Kong, Salve Duplito, Rose Fres Fausto, Ardy Roberto, Chinkee Tan and Randell Tiongson. Plenary discussions focused on the financial

PARTICIPANTS at the Financial Education Stakeholders Expo try their hand at a board game that integrates sound practices in handling finances. CONTRIBUTED PHOTO

education landscape in the Philippines and around the world, innovative approaches to delivering financial education messages to a variety of audiences, and examples of private sector initiatives in financial education as part of their corporate social responsibility.

Expo participants enjoyed a theater production called Lukot-Lukot, Bilog-Bilog which teaches saving and budgeting concepts in a creative way.

They also participated in “The Praxis Game,” an interactive board game that simulates market situations

and real life socioeconomic scenarios while players make critical financial decisions to finish the game with the highest possible amount of retirement money. Alongside the plenary sessions and activities was an exhibit, wherein selected private and nongovernment entities showcased their financial education programs and other advocacy activities.

The 2018 Expo is the beginning of an annual tradition where the BSP, DepEd and key financial education stakeholders can continue to engage,

build connections and pave the way for more productive, impactful partnerships in financial education.

The Expo supports Republic Act 10922, which designates the second week of November as Economic and Financial Literacy Week. It is also aligned with the objectives of the Philippine National Strategy for Financial Inclusion, the BSP advocacy for financial education, and the BSP mandates of maintaining price stability, financial stability and efficient payments system.

Part One

PON invitation by the Gyeonggi Tourism Organization (GTO), I joined a four-day program that consisted of a familiarization tour and a MICE (meetings, incentives, conventions and exhibitions) day from December 4 to 7 in Pyeongtaek City, Gyeonggi-do.

Gyeong g i, which litera l ly means “the area surrounding the capital” (Seoul), is the most populous province in South Korea, composed of 28 cities and three counties, with Suwon City as capital. The province is the backbone of Seoul and serves as its manufacturing hub, with an evenly developed heavy industry (electronics, chemicals, steel, machineries), light industry (textile), and farm, livestock and fishery. Currently, Gyeonggi is investing in the promotion of service industries, such as state-of-the-art information technologies, design, tourism and MICE. With 26 fellow participants from China, Malaysia, Thailand, Indonesia and the Philippines, I crisscrossed the southwest part of the province and visited the cities of Pyeongtaek, Gwangmyeong, Icheon, Yongin and Suwon, all within a 40-minute drive from one another. The purpose was for us to explore destinations, meeting venues and touring options for international MICE events to be organized in Gyeonggi.

In Pyeongtaek, a harbor city, we visited Ecoment, a cosmetic manufacturing company, and Samsung Electronics’ newest microchip-making “campus,” one of five in nearby areas. In Gwangmyeong City, we explored the Gwangmyeong Cave, a former gold, silver and bronze mine site, now converted into the largest themed cave park with interesting cultural and artistic sections and an underground winery and restaurant to boot. In Yongin City, we visited the Yongin Central Co-op Hotel, a newly built and reasonably priced 730room accommodation facility.

We capped our first-day fam tour in Icheon City at the new Starlight Garden OOOZOOO, a beautifully lit themed garden decorated with stunning illumination.

In the morning of MICE day, a B2B meeting for “buyers” (all 27 of us participants) and 34 “sellers” (hotels, convention centers, theme parks and gardens, spas, tour ism organi zat ions) was held at the Ramada Pyeongtaek

Association World Octavio Peralta

Hotel. The aim of the session was to match buyers and sellers for potential business, with a goal of organizing events in Gyeonggi. I myself had 13 of such 20-minute “appointment meetings” with various sellers plus a few more impromptu meetings.

The evening, themed “MICE Night,” attracted about 200 attendees—local officials, international guests, association executives and MICE industry players.

It was also a special occasion for a keynote on “MICE Industry 4.0: The Beginning of the Phono Sapiens Era,” the Gyeonggi-do MICE Awards ceremony, the Gyeonggi MICE Business Plan Report 2019 and the “Declaration for Pyeongtaek City’s MICE Vision.” There were also live entertainment and lots of networking.

The last day was a trip to Suwon City, where we visited a soon-to-be-opened (April 2019) Suwon Convention Center designed as a multicomplex facility that harmonizes with the surroundings while providing conveniences for locals and international visitors, and a traditional Korean Folk Village where we donned ourselves with hanbok, a traditional South Korean dress for special occasions, ate local food and watched cultural performances.

Gyeonggi has a lot more to offer as we covered only five of 28 cities but I hope you have learned that aside from Seoul, Jeju or Busan—the more familiar MICE destinations—Gyeonggi and its MICE “gems” also sparkle!

To be continued The contributor, Octavio “Bobby” Peralta, is concurrently the secretarygeneral of the Association of Development Financing Institutions in Asia and the Pacific, founder and CEO of the Philippine Council of Associations and Association Executives and president of the AsiaPacific Federation of Association Organizations (Apfao).

The purpose of PCA AE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of ADFIAP, the Tourism Promotions Board (TPB) and the Philippine International Convention Center.

E-mail: obp@adfiap.org

China easing expected as $625-B ‘liquidity hole’ opens up–Citic Securities

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HINA will cut the reserve requirement ratio (RRR) and improve funding conditions this month, as liquidity tightens toward the Spring Festival holidays, the country’s largest securities firm says.

Fresh demand for funds will amount to nearly 4.3 trillion yuan

($625 billion) in January, according to Citic Securities Co. and Bloomberg calculations. Mainland residents will withdraw 1 trillion yuan of cash in preparation for the holiday, when money is gifted in red envelopes. Corporate tax payments and maturities of lenders’ interbank debt will

also mop up liquidity, prompting authorities to step-up cash injections.

“The People’s Bank of China [PBOC] will inject a significant amount of cheap funds to plug the liquidity hole,” said Ming Ming, Citic’s head of fixed-income research. Authorities will reduce

the reserve requirement ratio and provide funding for lenders that make loans to private companies in January, he said.

China cut the amount of cash banks need to set aside as reserves four times last year as the nation struggled with slower economic growth, record corporate bond

defaults and a trade war with the US. The latest easing sign came on Wednesday evening, when the PBOC adjusted a rule to boost the impact of previous RRR cuts.

China International Capital Corp. said that they may release as much as 400 billion yuan of liquidity.

China’s interbank liquidity

loosened this week after a seasonal squeeze at the end of the year, with the benchmark seven-day repurchase rate tumbling to the lowest level since August on Thursday. That helped fuel a rally in bonds: futures on sovereign notes due in a decade surged to the highest in more than two years. Bloomberg News

B4 Friday, January 4, 2019

GLOBE MYBUSINESS LEADS AWARENESS CAMPAIGN ON MARINE-BIODIVERSITY CONSERVATION IN SIARGAO ISLAND

F THE GRAND MASCOT PARADE AT THE SM MALL OF ASIA Kids of all ages welcomed the year 2019 at the SM Mall of Asia with a grand mascot parade and over a hundred mascots spreading cheer around the mall. Leading the way were the lovable Mall of Asia characters Leo the Lion, Hailey the Hippo, Macky the Monkey, Cyril the Squirrel, Hannah the Panda, Benny the Bunny and Elly the Elephant.

OLLOW ING its recent rehabilitation efforts in Boracay, Globe Telecom led an awareness campaign on marine-biodoversity conservation in Siargao Island, which is dubbed as the surfing mecca of the Philippines.

This was done through Globe myBusiness, which caters to the business needs of micro, small and medium enterprises (MSMEs), in partnership with Save Philippine Seas (SPS), an independent nongovernmental, nonprofit organization that aims to protect the country’s rich marine resources.

Several stakeholders, including 30 business owners and a representative from the Department of Environment and Natural Resources (DENR), attended to discuss best practices on sustainability and biodiversity.

“I would like to [make] appeal to the local community and all business establishments here in General Luna [to] help each other and work together for the success of our environment-conservation efforts, for the prosperity and progress of our own municipality,” said Jose Wilbert L. Gorgonio, municipal environment and natural resources officer, General Luna.

Siargao has several establishments in the capital of General Luna, which are working together to create a better sustainable development, making it one of the best places to start the awareness campaign. Harana Surf Resort, for instance, commits soon to be a plasticfree establishment.

Dur ing t he work shop, Globe myBusiness and SPS shared tips on how to integrate sustainable best practices into day-to-day operations of businesses.

These include the use of ecobags, reusable

utensils, refillable containers, and the reuse of printed tarps and signage.

The business owners were also requested not to use sand, seashells, corals and sea stars as decorations, as well as avoid balloons and lantern releases.

At the same time, Globe myBusiness, being a trusted business partner of MSMEs, gave participants a sneak peek into its Lakbay sesssion by providing useful information on how they can utilize technology to more efficient run their business.

“We have prepared a portfolio of business solutions to give them the competitive advantage to improve efficiency and productivity, reduce cost and further grow their business, so they can focus on what matters most—the customers,” said Mitch Peralta, head of marketing for tourism, Globe myBusiness.

WHAT YOUR CREDIT SCORE SAYS ABOUT YOU?

C JRS EXPRESS DAVAO BUILDING JRS Express recently inaugurated its newest branch in Davao province, led by Antonio M. Claparols, president; John Paul P. Claparols, administrative officer; Jose Alejandro P. Claparols, business development officer; Jose Louis L. Claparols, CSI manager; Sarah Jane B. Pe, assistany comptroller and assistant vice president for branches; Ma. Jazhelle D. Buenaventura, accounting manager; Fe Odon, IESC manager; and Romano Quiazon, MIS manager.

CHASING FOOTBALL GLORY

REDIT scoring is one way to address the fear of acquiring for a loan. Trust that top lending companies in the Philippines acquire services like this to create an effective decision matrix that can strategically weigh your loan requests and pending debts.

The range of a credit score would instantaneously give an indication what type of borrower you are. Your score helps the lenders analyze what mode of credit interest or payment terms to give. Citing the world renowned FICO Score range, credit scores can range from 350 as the lowest to 850 as the highest.

So, how can you keep a good credit score?

Below are three simple steps to determine and maintain your credit worthiness: Find an accredited and legitimate

credit bureau that offers services, such as credit scoring or financial benchmarking. Credit score is a numerical expression that represents your credit score. A good credit bureau provides viable resources and technical know-how, so you will have an appropriate credit score suited for your credit record.

Understand what constitutes as a good credit standing among financial institutions to maintain a high credit score and improve your chances when applying for financial services. Keep in mind that a good credit score can be used to negotiate more deals and gain access to better loan approvals and contracts.

When deciding to apply for a loan or making purchases, you should consider how such actions will affect

your current credit score. Analyze the importance of that loan or purchase as it can ultimately affect your transactions in the future.

CIBI Information Inc., the Philippines’s first and only local credit bureau since 1982, developed the country’s benchmark for globally accepted credit scores, which supports the financial growth of every Filipino locally and abroad. myScore, CIBI’s credit-score brand, represents the payment risk of your current and potential credit standing, as well as assesses whether you are likely to pay as agreed or if you are worthy for lenders to extend credit to.

For more information on how to avail of this and other services, visit https://www. cibi.com.ph.

CURATING THE MOST BRILLIANT FILIPINO ENTREPRENEURS

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HE Philippine Azkals bows out of the 2018 Asean Football Federation (AFF) Suzuki Cup as the tournament draws to a close.

The Philippine national team has been participating in the AFF Championship since 1996 and, over the years, they have progressed from the group stage to the semifinals.

The Azkal’s proudest claim to fame was the so-called Miracle of Hanoi, where they beat defending champions Vietnam, 2-0, at the 2010 AFF Suzuki Cup. Despite a fueled desire for the finals, the team has, yet, to taste the sweetness of the elusive championship.

“We’ve come a long way since Vietnam [during the Miracle of Hanoi],” says team captain Phil Younghusband. “There were some wins, some losses, but we’ve pushed through and worked hard to be successful, and to draw more fans to Philippine football.”

The recently concluded 2018 AFF Suzuki Cup was held from November 8 to December 15, 2018.

Group A consisted of Laos, Cambodia, Myanmar, Malaysia and Vietnam. The Philippines was placed in Group B with Timor Leste, Indonesia, Singapore and defending champions Thailand.

At the group stage the Philippines started strong beating Singapore, 1-0, last November 13 at the Pana-ad Stadium in Bacolod City.

It was German-born Filipino Patrick Alcala Reichelt who scored the goal. The Azkals went on for another win against Timor-Leste, 3-2, at an away game in Kuala Lumpur Stadium, Malaysia. Top scorer Younghusband, SwissFilipino Martin Steuble and Spanish-Filipino Carlos de Murga scored three critical goals.

Returning to Pana-ad Stadium, the Azkals tied with Thailand, 1-1, where proud Iloilo-native

Jovin Bedic made a stunning point against the defending champs. Before graduating from the group stage, the Azkals once more dealt a draw with Indonesia at an away game in Gelora Bung Karno Stadium, Jakarta.

At the 2018 AFF Championship knockout stage, where the two teams from each group advance to compete in a single-elimination tournament, the Philippines competed against Vietnam. On the first leg in a home game in Bacolod, the Azkals faced off against Vietnam, but lost with a score of 1-2. Right winger Reichelt again managed to score the goal.

On the second leg the team traveled to Mỹ Đình National Stadium in Hanoi Driven, and the Azkals battled out in a long drawn-out deadlock against Vietnam, and is driven and required to produce twice the number of goals against their opponent. But in the last 10 minutes of the game, Vietnam scored two goals, ensuring their seat at the 2018 AFF Suzuki Cup Championship Finals. The Philippines, nevertheless, did not concede, managing one goal—thanks to midfielder James Younghusband—but didn’t make it through to the finals.

Finishing as semifinalists for the fourth time after 2010, 2012 and 2014, the Azkals continue to persevere and inspire. As they gain more experience on the field, so do they become better players. “Most of all, I enjoy being part of the group and being part of this team. We have amazing talents and you can expect greater things from us in the future,” Phil Younghusband says.

Despite the loss, the Philippine Azkals have set their eyes on a new goal, gearing up for the 2019 Asian Football Confederation Cup.

IRST Filipino Stanford Law Graduate Juan “Paolo” Villonco is giving back to his homeland by providing economic opportunities for the country.

At present the Philippine economy heavilyreliesonbusinessprocessoutsourcing (BPO)andoverseascontractworkthatcanbe affected by the advancement in technology.

Paolo, along with his business partners, aims to find solutions that will disrupt the economy of the Philippines for the good thru Ignition Venture Studio, a firm that does not only invest in startups, but also provides office space, innovation programs and workshops, networking, matchmaking events, and providing everything an entrepreneur could ever need. “ T he goal is to democratize entrepreneurship and enable Filipinos to pursue their entrepreneurial dreams by giving them ample support. We, at Venture Studios, aim to make their dreams come true,” Paolo says.

Villonco graduated with a law and economics degree at Ateneo De Manila University, has worked at the prestigious

Siguion Reyna Montecillion and Ongsiako Law Firm, is currently a consultant for government and private sector on the future of work, technology, environment, and energy issues, as well as the director of

HOLIDAY CHEERS FOR OFWS

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AST November 18 more than 1,000 OFW families, including 300 children, flocked at Ayala Malls South Park in Alabang to celebrate an early Christmas treat, including sing and dance contests with cash prizes. At the helm of this event was Marissa del Mar (fourth from right), producer/host of Buhay OFW TV. Together with the Buhay OFW Foundation and partners, such as former PNP Chief Ronald de la Rosa (third from right), with P/C Superintendent Rhodel

O. Sermonia (third from left), acting director of Police Community Relations Group.

The group talked about the PNP’s latest project called global police community relations program, in which a l l t he loved ones and relatives of the OFWs who are here in the Philippines can easily connect to PNP for their immediate concerns and issues.

business development of the TIPCO group of companies.

Ignition Venture Studio is at the North Penthouse, Marajo Tower 312, 26th Street Avenue, Bonifacio Global City.

Sports BusinessMirror

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| Friday, January 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SCHUMACHER TURNS 50 MICHAEL SCHUMACHER waits in his car during the third practice session for the Indian Formula One Grand Prix at the Buddh International Circuit in Noida, India, in October 2012. AP

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By Jerome Pugmire The Associated Press

GAINST the backdrop of celebrations marking Michael Schumacher’s 50th birthday on Thursday, the medical condition of Formula One’s (F1) most successful driver remains just as fiercely guarded by his close family.

More than five years after a near-fatal brain injury in a skiing accident, the seven-time F1 champion continues to be cared for in total secrecy at home in the quiet Swiss town of Gland on the shores of Lake Geneva. He has been there since being transferred from a hospital in September 2014.

“You can be sure that he is in the very best of hands and that we are doing everything humanly possible to help him,” Schumacher’s family said in a rare statement on Wednesday. “Please understand if we are following Michael’s wishes and keeping such a sensitive subject as health, as it has always been, in privacy.”

It was while skiing with his teenage son Mick in the French Alps at Meribel that Schumacher fell on December 29, 2013. He hit the right side of his head on a rock, splitting open his helmet. Doctors at Grenoble hospital removed blood clots, but others were left untouched because too deeply embedded in his brain.

With unsourced stories abounding, updates on his condition went from scarce to nonexistent as his family closed ranks around him. But the family understands the level of devotion toward Schumacher from his legions of fans.

Coinciding with his birthday, the family is releasing the Official Michael Schumacher App offering a virtual museum tour of his greatest achievements.

“The app is another milestone in our effort to do justice to him and you, his fans, by celebrating his accomplishments,” the statement said.

Many of those accomplishments were with Ferrari, where the German driving ace won five titles. The Italian manufacturer is honoring his 50th with a special museum exhibition of his achievements at its Maranello headquarters in northern Italy.

His stature as Ferrari folklore is immense, while his impact on F1 is unparalleled with perhaps the exception of the late Brazilian great Ayrton Senna.

Schumacher’s winners’ aura was perhaps unfairly viewed from the outside as cold and distant, when in essence he was incredibly appreciative of those he worked closely with. In 2000, he delivered Ferrari from years of frustration with a first world title since Jody Scheckter in 1979.

At the time, Schumacher spoke about the emotions he felt as the team celebrated wildly around him.

“Those faces. Bright eyes everywhere and everyone cheering,” Schumacher said in recognition. “I would have loved to hug and kiss each and every one of them.”

Schumacher won the next four F1 titles—even securing the 2002 title an astonishing six races before the end—on his way to a record 91 Grand Prix (GP) wins. His speed, consistency and work ethic were all unmatched.

“He was winning races sometimes he shouldn’t have won,” said F1’s managing director Ross Brawn, who worked with Schumacher on all seven F1 titles. “He just had a majesty about him in that period.”

During Schumacher’s glory years, F1 even rivaled soccer as the No. 1 sport in Italy—quite an achievement. Memorabilia from those halcyon days, including cars and race-worn helmets, has been on display in the German city of Cologne at The Michael Schumacher Private Collection since June of last year.

“Michael can be proud of what he has achieved, and so are we,” his family’s statement said. “We want to remember and celebrate his victories, his records and his jubilation.”

Schumacher has not been seen in public since his accident.

Brawn and Jean Todt—the head of motorsport’s governing body FIA—are very close friends and have visited him at his Swiss home. Brawn reiterated the need for Schumacher to be shielded from the media spotlight.

“I am constantly in touch with [Schumacher’s wife] Corinna and I totally agree with their decision,” Brawn said. “Michael has always been a very private person.”

The exhibitions in Cologne and Maranello are initiatives of the Keep Fighting Foundation, launched by Schumacher’s family and of which Brawn and Todt are trustees.

RISING STAR

IT was then-Ferrari General Manager Todt who persuaded Schumacher to join him there after world titles with Benetton in 1994 and 1995, where he had developed a dazzlingly successful rapport with Brawn.

Todt rarely speaks publicly about Schumacher, out of respect, but revealed he watched the Brazilian GP with Schumacher at his Switzerland home in November.

Brawn spotted the young Schumacher’s brazen talent during the World Sportscar Championship.

“He was doing lap times on less fuel than the others, and beating them by a mile,” Brawn said, underling how even then Schumacher was “clearly incredibly quick.”

They started working together at Benetton in 1991. A year later, Schumacher won his first F1 race at the Belgian GP and his astonishing career took off.

“In ‘94, when he won the first championship, he was incredible,” Brawn said.

Given his age and lack of experience at the time, Schumacher’s breakthrough Benetton days were arguably equal to his stellar time with Ferrari.

SERENA HEATS UP P

ERTH, Australia—Serena Williams stepped up her Australian Open preparations with a straight-sets victory over Britain’s Katie Boulter on Thursday to complete an unbeaten Hopman Cup campaign in singles.

Williams cooled off after a strong start but prevailed with a 6-1, 7-6 (2) victory in 78 minutes to level the tie between the United States and Britain in Group B. Britain, however, won the tie when Boulter and playing partner Cameron Norrie had a comeback, 3-4 (2), 4-3 (4), 4-1, victory over Williams and Frances Tiafoe in the mixed doubles.

The 37-year-old Williams’s hopes for a record third

Hopman Cup title ended when the United States were eliminated after losses to Greece and Roger Federer-led Switzerland.

Defending champions Switzerland has a good chance to make the final ahead of its clash later on Thursday against Greece, which remain a mathematical chance. Hosts Australia and tournament favorites Germany will battle for a place in the decider in Group A action on Friday.

Williams slowly built momentum in her first tournament back since the US Open Final in September as she eyes a record-equaling 24th Grand Slam singles title in Melbourne.

“It’s difficult to define a peak,” Brawn told F1’s official podcast.

HAMILTON CLOSING IN

FIVE-TIME F1 champion Lewis Hamilton has Schumacher’s records within his sights, and age relatively on his side.

Given that the British driver is contracted with Mercedes for at least this season and next, he has a strong chance of equaling Schumacher’s seven titles and number of race wins.

The 33-year-old Hamilton has won 73 races—18 behind but with a slightly higher win ratio than Schumacher had.

Hamilton, arguably F1’s greatest ever talent in qualifying, has eclipsed Schumacher’s record for pole positions: 83-68.

They are level for most podiums in a season with 17. But Schumacher leads him in terms of consecutive podiums finishes overall 19-16, as well as fastest laps with a staggering 77-41.

Schumacher also holds the F1 record for most wins at a single race: eight at the French GP.

RISING SON

HAVING raced against Schumacher in F1 and then replaced him at Mercedes, Hamilton could well end up driving against Schumacher’s son.

All eyes will be on Mick Schumacher this year as he competes in F2 with the Prema Racing team.

The 19-year-old Schumacher won last year’s F3 championship in style with eight wins and seven pole positions.

It was another racing title for the Schumacher family, and maybe not the last.

THE second-ranked Rafael Nadal withdraws after having an MRI on a muscle strain in his left thigh. AP

Nadal withdraws, Murray gets door B

RISBANE, Australia—Andy Murray lost his second-round match less than an hour after Rafael Nadal withdrew from the Brisbane International on Wednesday.

Both players arrived in Australia after long injury breaks, and neither had played a competitive match since September.

At least Murray completed two matches. Playing on a protected ranking after an injury-interrupted 18 months, he beat James Duckworth before losing to fourth-seeded Daniil Medvedev, 7-5, 6-2. There were signs in both matches that he is still bothered by the hip problem, which has derailed his last two seasons.

Defending women’s champion Elina Svitolina also went out in the second round, losing to Aliaksandra Sasnovich, 6-4, 0-6, 6-3, in the last match of the day.

Murray, a three-time major champion, recovered a service break in the first set and was in the match at 5-5 until Medvedev won six straight games.

“As you play up the levels, whether it’s issues with your game, like if you’re not serving, as well or if you’re not moving as well, the better players exploit that,” Murray said. “He is a top player, and is able to do that. I need to try and find a way of working out how to get around some of the things I struggle with a little bit now.”

The second-ranked Nadal had a first-round bye but withdrew on the eve of his scheduled second-round match against Jo-Wilfried Tsonga after having an MRI on a muscle strain in his left thigh.

Nadal said he’d head to Melbourne after a brief stopover in Sydney for a Fast4 event to prepare for the Australian Open. The 32-year-old Spaniard is hoping he can still win the season’s first major, which starts on January 14, despite his lack of match preparation.

Doctors “say that it’s a very small thing, but can become a big thing,” Nadal said during a news conference staged while Murray was playing Medvedev on Pat Rafter Arena. “When you increase the intensity on the muscle competing, then there is a big risk to make something bigger.”

Also exiting the men’s draw on Wednesday where defending champion Nick Kyrgios, who lost to Jeremy Chardy, 6-7 (5), 6-2, 6-3, and third-seeded Kyle Edmund, who lost to Japanese qualifier Yasutaka Uchiyama, 7-6 (6), 6-4.

Second-seeded Kei Nishikori beat and 2017 champion Grigor Dimitrov had straight-set wins earlier to set up a quarterfinal showdown—a rematch of their final in 2017. Also advancing were fifth-seeded Milos Raonic and seventh-seeded Alex De Minaur.

Anett Kontaveit beat fourth-seeded Petra Kvitova, 7-5, 7-6 (1), to reach the women’s quarterfinals, and Anastasija Sevastova advanced to a quarterfinal match against US Open champion Naomi Osaka.

Fifth-seeded Karolina Pliskova had a 7-5, 6-2 win over Marie Bouzkova and will next meet Ajla Tomljanovic, who beat Johanna Konta, 6-2, 7-6 (2). Donna Vekic ousted No. 6 Kiki Bertens, 7-6 (5), 1-6, 7-5, and will take on Sasnovich in the quarterfinals.

The absence of Nadal, who was replaced in the draw by Taro Daniel, and Murray puts more focus on the Nishikori-Dimitrov quarterfinal match. Nishikori opened his year with a 7-5, 6-2 win over Denis Kudla.

The sixth-seeded Dimitrov, who beat Nishikori in the 2017 final here, had to withstand a late comeback from John Millman before winning, 6-3, 6-4. He’s using the quarterfinal match as a barometer for where his preparations stand for the Australian Open.

“It’s great. I mean it’s right off the blocks,” Dimitrov said.

“It’s perfect to play a match like that to kind of see where your game is at.” AP “It was definitely good to play three singles matches here, and the mixed [doubles],” Williams said.

A sluggish Williams started slowly in victories over Maria Sakkari and Belinda Bencic, but breezed through the first set against a beleaguered Boulter in just 24 minutes.

Watched on by her daughter Alexis Olympia, the sweethitting Williams found her groove through an array of powerful forehand winners to overwhelm the 97th-ranked British player.

The one-sided contest took a surprising turn when Boulter broke Williams early in the second set, but she was unable to consolidate on serve. Williams was made to work before putting the foot down in the tiebreak. AP SERENA WILLIAMS wins her third singles match at the Hopman Cup. AP

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JOC waives age regulation on 71-yr-old head for 2020 Games

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HE Japanese Olympic Committee (JOC) plans to not apply its age limit to President Tsunekazu Takeda in order to let him stay on until the end of the 2020 Olympic Games in Tokyo.

The JOC limits the maximum age of its executives to less than 70 years old at the time of election.

But it has decided not to apply the rule on the 71-year-old Takeda when it conducts an election in June, Japanese news agency Jiji Press reported.

Such a decision would be in line with the initiative of the International Olympic Committee, which last September announced it was extending the 70-year-old age limit for Takeda until the end of Tokyo 2020.

“If the JOC’s 70-year age limit is applied to Takeda, the move would be inconsistent with the Olympic Charter,” a source told Jiji Press.

Takeda was born the third son of Prince Tsuneyoshi Takeda and is the great-grandson of

OKC’S GEORGE BOOED IN L.A.

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OS ANGELES—Paul George got booed last season in Indianapolis because he left. He got booed by Lakers fans on Wednesday night because he never arrived.

The Oklahoma City star learned from the first experience and translated it into a performance that quieted Staples Center.

George scored 37 points while getting jeered whenever he touched the ball by Lakers fans still angry he didn’t choose their team in free agency, leading the Thunder to a 107-100 victory over Los Angeles.

Russell Westbrook had 14 points, 16 rebounds and 10 assists despite 3-for-20 shooting, but his fellow Southern California native was the center of attention in the Thunder’s only visit to the Lakers this season.

“I was prepared for it,” George said. “I’m the bad guy, and that’s fine.”

The boos started in pregame introductions for George, whose perceived crime is his decision to re-sign quickly with Oklahoma City when he became a free agent last summer despite years of mutual interest between the scoring sensation and the Lakers.

George grew up idolizing Kobe Bryant while rooting for both the Lakers and Clippers in Palmdale, California, on the far-flung edge of Los Angeles suburbia.

Yet he didn’t even deign to meet with the Lakers about a return to his home state after years of hopeful speculation

by Lakers fans and Magic Johnson, who wanted to team LeBron James with George.

“I’m not the only guy from SoCal, the LA area, that didn’t decide to play here,” George said. “You can go down the whole list of guys from this beautiful city. It is what it is. The decision has been made. No ill will.”

At least not on George’s part—but he got the last laugh on his haters despite struggling with early foul trouble.

After collecting 13 points in the second quarter and 11 more in the third, George scored nine points in the fourth while the Thunder rallied from a five-point deficit and easily held on for their seventh win in 10 games.

“I feel like every game is important to him, so I don’t want to say that he was extra amped up for this game,” Oklahoma City Coach Billy Donovan said. “Obviously the Lakers have great history, great tradition. It’s a great place to play, great environment...but as it relates to his personal feelings, I think he’s probably best to answer that.”

the Emperor Meiji, who ruled Japan from 1867 until his death in 1912. He represented Japan in equestrian at the 1972 and 1976 Olympic Games in Munich and Montreal respectively. Takeda was first elected President of the JOC in 2001.

If he is reelected again in June, it would be his 11th two-year term.

Takeda led Tokyo’s successful bid for the 2020 Olympic and Paralympic Games.

The campaign has since been overshadowed after Takeda refused to reveal details of a suspect $2-million contract with Singaporean company Black Tidings to the Japanese Parliament.

The account holder has been closely tied to Papa Massata Diack, son of the disgraced former International Association of Athletics Federations President Lamine Diack, who is currently being held in France and facing corruption charges.

Takeda told Parliament the contract was confidential so he could not disclose it without the approval of the other party. Insidethegames

NBA RESULTS Dallas 122, Charlotte 84 Miami 117, Cleveland 92 Washington 114, Atlanta 98 Brooklyn 126, New Orleans 121 Boston 115, Minnesota 102 Detroit 101, Memphis 94 Orlando 112, Chicago 84 Philadelphia 132, Phoenix 127 Oklahoma City 107, L.A. Lakers 100 PAUL GEORGE: “I’m the bad guy, and that’s fine.” AP

When George returned to face the Pacers on December 13, 2017, he managed just 12 points on 3-of-14 shooting amid scathing boos.

He had been traded five months earlier after seven seasons with the Pacers, who shipped him to Oklahoma City instead of the Lakers, widely thought to be his preferred destination. AP

Wada urged to penalize Russia

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HE World Anti-Doping Agency (Wada) has been urged to immediately declare the Russian Anti-Doping Agency (Rusada) noncompliant again as global condemnation continued after a crucial deadline to hand over data from the Moscow Laboratory lapsed.

Rusada, banned since 2015, was brought back into the fold in September on the condition that they allow access to the laboratory by December 31.

Wada wanted to retrieve data from the facility’s Laboratory Information Management System, which is thought to contain damning evidence of Russian cheating amid the country’s wider doping scandal.

Their team were turned away from Moscow empty-handed, however, and yesterday the global anti-doping body confirmed the deadline had been missed.

The body’s President Sir Craig Reedie claimed he was “bitterly disappointed” after Russian authorities blocked the data extraction as “equipment was not certified under the country’s law.”

In response, UK Anti-Doping’s (UKAD) Athletes’ Committee, chaired by

rower Sarah Winckless, has now released a statement saying Rusada should be re-declared noncompliant immediately.

Wada’s independent Compliance Review Committee are due to discuss the matter at a meeting on January 14 and 15 in Montreal in Canada, but critics say this is too late.

“Unfortunately, the Russian government has clearly not fulfilled its promise [to allow access to the lab],” the UKAD statement said.

“In a public statement the Wada President Sir Craig Reedie 100-percent guaranteed that the Russian Government would comply with Wada’s compromised terms.

“These terms have not been met.

“The Russian state needs to prove unequivocally that they have learned from the biggest doping scandal under Wada’s watch, and that they will, for this date forward, be committed to a drug-free, transparent regime across international sport.

“Otherwise the Wada Compliance Review Committee and the Wada Executive Committee must now, immediately, declare Rusada noncompliant. Insidethegames

Pulisic becomes most expensive US soccer player

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ANTETOKOUNMPO

DONCIC

EMBIID

‘ALIENS’ MAKE MARK IN N.B.A. G

O back to the 1999-2000 National Basketball Association season, and there were only two foreign-born players in the NBA who averaged 15 points per game: Dirk Nowitzki and Tim Duncan.

This season, there are 24 names on that list—by far the most in league history.

The NBA international imprint just keeps getting bigger, providing the sort of transformative impact the likes of which the league probably hasn’t seen since the American Basketball Association merger.

One of the Most Valuable Player (MVP) front-runners at this point is Greece’s Giannis Antetokounmpo, who has led Milwaukee to the NBA’s best record entering Wednesday. Dallas’s Luka Doncic looks like an overwhelming favorite to become the first Slovenian rookie of the year. Cameroon’s Joel Embiid might be the dominant big man in the league, and keeps getting better for Philadelphia.

These aren’t just some guys taking up roster spots, either.

These are franchise players.

At least one-third of the league’s teams have a foreign-born player who would classify as its best, or at least its most important.

“It’s been fun to watch over the last two decades, where the game started

internationally and where it is now,” said Dirk Nowitzki, the German who became the biggest star in Dallas Mavericks’ history. “I think the game has grown globally, China, Australia, Africa, Europe, South America. I think we’ve got 150 international players in the league or more. It’s been fun to watch.”

Just take a peek at Tuesday’s boxscores to see the impact. n There were six guys with 12 or more rebounds, five of them born outside the US. n There were six guys with seven or more assists, all of them born outside the US. n There were four guys with three or more blocks, all of them born outside the US. Nikola Jokic had 19 points, 14 rebounds and 15 assists for Denver, and it might not have even been his best game of the season.

Jokic is Serbian—and represents how the game is played today. He’s a 7-footer. Big, fast and skilled. He’s going to be a problem for teams for a long time, and is the biggest reason the Nuggets entered Wednesday atop the Western Conference.

The NBA has utilized a “USA vs. The World” format in what used to be called the rookie game at All-Star weekend since 2014, and maybe it’s time to think about doing something like that in the varsity matchup, as well.

Think about this possibility: Antetokounmpo, Doncic, Embiid, Jokic and Ben Simmons starting. Select Rudy Gobert, Clint Capela and Nikola Vucevic as the backup big men. Ricky Rubio, Danilo Gallinari, Buddy Hield and Bojan Bogdanovic as backup guards

and wings. Jamal Murray, Jonas Valanciunas and Boban Marjanovic would be snubbed on this 12-man mythical roster.

And that scenario even has Australianborn Kyrie Irving playing for the US side in this made-up game.

The US team led by LeBron James, Stephen Curry, Kevin Durant, James Harden, Kawhi Leonard and Anthony Davis would probably still win. But it might be worth the NBA taking a look at this sort of format before too long.

“You’ve got guys coming from everywhere and anybody now in the world, you know if you work hard you can come play in the NBA,” said Charlotte’s Tony Parker, who was born in Belgium.

There’s a myriad of theories on why this is happening.

The one that makes the most sense is that the game is basically beamed in real time right now to every phone in the world. Young players like Doncic can see fellow Europeans succeed in the NBA while oohing and aahing over their basketball heroes—and for the Mavericks rookie, it was James. Embiid went slightly more old school, saying his favorite all-timer is former MVP Hakeem Olajuwon. Antetokounmpo modeled some of his game after Scottie Pippen.

The seeds have been planted over these last 20 years.

It was only a matter of time before they bore this sort of fruit.

“We just know what this game is about,” Doncic said of the young foreign cluster of stars. “I don’t know if people think international players aren’t that good, but I think we showed up.” AP

FOR SON, IT’S COUNTRY OVER CLUB L ONDON—Son Heung-min is looking forward to making history with South Korea at the upcoming Asian Cup. He’s just sorry it has to come at the expense of helping Tottenham maintain its title challenge in the Premier League.

Son might be in the form of his career, having scored eight goals in his last nine games as Tottenham moved into second place in the league and into serious contention for the title.

He will play one more league game— against Manchester United on January 13— before leaving for international duty at the tournament in the United Arab Emirates (UAE).

He could be away for up to five of Tottenham’s matches in all competitions if South Korea reaches the February 1 final in Abu Dhabi.

Son also missed the first part of the English season while playing for South Korea at the Asian Games. He led the team to the title, securing exemption from military service in the process.

“Of course I feel very sorry because I miss already in September,” said Son, speaking after scoring his latest goal in Tottenham’s 3-0 win at Cardiff.

“I feel sorry for my teammates, the fans and the coaching staff. It’s difficult. Sometimes you think it’s a bit sad, but it is also important for my country. I hope I can keep my form for the national team and when I come back here again, as well.”

Son is likely to miss league games against Fulham, Watford and Newcastle, as well as the second leg of Tottenham’s English League Cup semifinal against Chelsea.

ORTMUND, Germany—Christian Pulisic became the most expensive American soccer player in history after completing a transfer to English club Chelsea from Borussia Dortmund on Wednesday.

Chelsea paid €64 million ($73 million) for the 20-year-old United States winger, who will be loaned back to Dortmund for the rest of this season. The German club won’t have to pay Chelsea for the loan.

The fee is easily the biggest paid for an American player, surpassing the reported €20 million ($22.5 million) spent by German team Wolfsburg for John Brooks in 2017.

“It was always Christian’s big dream to play in the Premier League,” Dortmund sporting director Michael Zorc said. “That certainly has to do with his American origins, and so it wasn’t possible for us to extend his contract.”

The Hershey, Pennsylvania-native’s contract with Dortmund was due to expire at the end of next season.

“It is a privilege to have signed for such a legendary club,” Pulisic said of the London team that has won five Premier League titles since 2005. He thanked Dortmund for “finding a solution that was win-win for everyone.”

Pulisic had long been linked with a move to a Premier League club, while Dortmund’s league rival Bayern Munich was also reportedly interested.

Despite the price tag, the signing could be somewhat of a coup for Chelsea if it helps the club establish a larger American fan base.

“He’s one of the great young talents in the world,” former US defender Alexi Lalas wrote on Twitter. “He just happens to be American...which makes him even more valuable. All brands want to continue to mine the fertile US market, having Pulisic doesn’t hurt.”

It is the most high-profile move secured by an American outfield player, with goalkeepers Tim Howard having previously played for Manchester United and Brad Friedel for Liverpool.

Chelsea director Marina Granovskaia said the club has signed “one of Europe’s most sought-after young players.”

“At just 20, we believe he has the potential to become an important Chelsea player for many years to come,” she said.

Chelsea manager Maurizio Sarri said he was unaware the club was signing Pulisic until a day before it was announced.

“I was asked about him a month ago,” said Sarri, speaking after Chelsea’s 0-0 draw with Southampton late on Wednesday, “and my opinion was positive.”

Pulisic, who can play on either wing or behind the striker, has been overshadowed somewhat at Dortmund this season due to the emergence of English youngster Jadon Sancho. Sancho was signed from Manchester City for £8 million ($10 million) in the offseason of 2017 and has already scored six Bundesliga goals and set up nine more this season.

Pulisic has made only 11 league appearances (one goal, two assists) and only five of those were as a starter.

In a message posted on his Twitter account, Pulisic urged Dortmund fans to “not doubt my passion, determination and my 110 percent commitment to the team right until the last ball is kicked this season.” AP

SON HEUNG-MIN wants to make history with South Korea at the Asian Cup at the expense of helping Tottenham in the Premier League. AP

Spurs would want Son back in time for the February 10 match against Leicester in the league, but there’s a chance he’d be tired after his exertions in the UAE where South Korea heads as the favorite. After all, he struggled on his return from the Asian Games.

“I was tired after the Asian Games because in

that tournament I was playing after [every] two or three days,” Son said. “It is very important to be right mentally at the Asian Cup and to come back with a strong mind and be strong physically.

“It [November] was a turning point for me because I was tired, and I didn’t travel. It was good to have this time, some days off, and hard

sessions with the team. But the Asian Cup is big for us because we have not won it for 59 years.”

The Asian Cup starts on Saturday. South Korea and Tottenham have agreed that Son only needs to link up with his international teammates in time for the start of the knockout stage. AP

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Friday, January 4, 2019

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ALAPAG JOINS S.M.B. IN P.B.A.

By Ramon Rafael Bonilla

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ROM foe to ally.

That is what has become of Jimmy Alapag as he brings his A-game wits to the San Miguel Beer (SMB) bench starting with the Philippine Basketball Association (PBA) Philippine Cup. Alapag won six PBA championships as Talk ’N Text’s (TNT) primary 1-guard, his stint with the Manuel V. Pangilinan franchise lasting for 12 long years.

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‘STARCRAFT 11,’ ‘DOTA 2,’ 3 OTHER GAMES IN SEAG

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in the off season.

“This team has a lot of success, most especially in the recent years. Being here is a great opportunity for me to help,” Alapag said.

Alapag joins fellow assistants Peter Martin, Boycie Zamar, Biboy Ravanes and Ato Agustin on the Beermen’s bench.

Romeo, meanwhile, was warmly welcomed in his first practice as a Beerman on Thursday at the Acropolis Gym in Quezon City.

Acquired from KaTropa, the 26-year-old Romeo will work with veteran playmaker Alex Cabagnot, Chris Ross, Marcio Lassiter and Ronald Tubid in the backcourt.

He averaged 21.4 points, 3.4 rebounds

and 5.2 assists in the Governors’ Cup for the KaTropa, but the team missed the playoffs for the first time since 2015 with a dismal ninth place finish.

SMB guns for its fifth straight all-Filipino title when the league opens its 44th season on January 13 at the Philippine Arena in Bulacan.

Rain or Shine, on the other hand, flew to Bahrain to play two exhibition matches against different ball clubs as part of its preparation for the coming season.

Led by veterans James Yap, Beau Belga and Raymond Almazan, the Elasto Painters will play against Bahraini Premier League squads Al-Manama and Al-Muharraq.

Rookies J-Jay Alejandro and Javee Mocon also joined the team.

Gabe Norwoord, Maverick Ahanmisi and Jay Washington are still on vacation in the US and will miss the Bahrain trip.

In last season’s Philippine Cup, Rain or Shine finished fifth in the elimination round with a 6-5 won-lost record. The Elasto Painters made the quarterfinals but were swept in two games by the Barangay Ginebra Gin Kings.

Wayne Chism, their former import, now plays for the Bahrain league defending champion Al-Manama. Former Green Archer Bader Malabes, on the other hand, is on the Al-Muharraq side.

MEANS TO VIE AS PHL BET IN RIO WORLDS

JIMMY ALAPAG brings his wits to his former team’s archrival.

Sports debuts in the Philippine 30th Southeast Asian Games with five games—“Dota 2” and “StarCraft II” for PC, “Mobile Legends: Bang Bang” and “Arena of Valor” for smartphones and “Tekken 7” for gaming consoles.

The was announced after the holidays by the Philippine SEA Games Organizing Committee (Phisgoc) and Razer, the official partner of eSports in the Games set from November 30 to December 11.

A sixth console game is undergoing evaluation and will be shortlisted in the coming weeks, bringing to six the total gold medals staked in eSports. Competitions will be for teams both for men and women.

“In the three weeks since we announced eSports as a medal event at SEA Games 2019, we’ve seen a phenomenal level of interest from all segments of the industry, most of all game publishers,” Razer cofounder and CEO Min-Liang Tan said.

“The shortlisting of six games in such a short time is evidence that the notion of eSports as a legitimate sporting event is no longer a fad. We look forward to having more partners come on board and join us in defining a new generation of sporting heroes for the youth and millennials,” he added.

“We are thrilled to see the momentum that our partnership with Razer has achieved in such a short period of time,” Phisgoc Executive Director Ramon Suzara said. “We are working with all involved publishers and partners to lock down the titles within the next few weeks, and look forward to watching the region’s best eSports athletes face off in the arena next year.”

Director for Sports Rep. Abraham Tolentino said the Phisgoc has long been keen on including sports that will appeal to the young, tech-savvy spectators, including eSports.

Sebastian Lau, director general of Asian E-Sports Federation, commended Phisgoc for its efforts of including eSports into their Sports Program.

“ESports is the sport of the future. We are glad to partner with Phisgoc in bringing eSports to Southeast Asia,” Lau said.

Razer is the world’s leading brand in ESports, and the company has been driving the growth of competitive gaming since it was founded more than a decade ago. Today, eSports is an undisputable phenomenon—the global ESports audience is expected to reach 276 million by 2022, and eSports itself is projected to be a billion-dollar industry by next year.

Razer supports 18 champion teams with players from 25 countries, and Team Razer athletes have won over $10 million in prize money in the past two years alone.

But on Thursday, the former top point guard of Asia was introduced to the Beermen during practice as a new assistant to Head Coach Leo Austria.

The 5-foot-9 Alapag is best remembered with his spitfire plays and sharp-shooting hands that bailed the national team so many times in international play, is already serving as head coach of San Miguel Alab Pilipinas in the Asean Basketball League. He won a championship for the team last year.

Alapag joining the Beermen was hardly a surprise though—SMB nabbed Terrence Romeo from TNT in a multipronged trade

MEANS

HRISTIANA MEANS will join Asian Games gold medalist Margielyn Didal on Team Philippines, which will see action in the Street League Skateboarding (SLS) World Championships set from January 11 to 13 in Rio de Janeiro, Brazil.

Means is a Filipino-American from Oregon and, according to Skateboard Association of the Philippines President Monty Mendigoria, she has sworn in as a Filipino citizen at the Consulate Office recently in Washington.

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IANCA PAGDANGANAN outdueled Atthaya Thitikul in a thrilling front-side shootout and with a blistering chargefired a four-under 67 to wrest a two-stroke lead over the Thai ace at the start of the Philippine Amateur Open Golf Championships at Riviera’s Langer course in Silang, Cavite, on Thursday.

Pagdanganan, an Asian Games team gold and individual bronze medalist, survived the wind and birdied four of the first seven holes at the front, rallying from two down off Asian Games gold medal teammate Lois Kaye Go and one off Thitikul to seize control in the early going of the 72-hole championship sponsored by the MVP Sports Foundation.

“The wind was so strong so I had to analyze everything.

But I played aggressive at the front and got my birdies,” said Pagdanganan, enjoying top form coming off a victory in last week’s National Doubles with Jed Dy. Korean Jang Sung Hun also took a two-shot lead over Singapore’s Lucius Toh in the men’s side, cashing in on an early tee-start to shoot a 69 with Gen Nagai and Weiwei Gao tied at third with 72s and Japanese Atsushi

“We are confident with what Margie and Christiana can do. With what they showed in the past few months, we are confident that they will rank good in Rio,” Mendigoria said.

“It’s not about winning in the SLS. If we win, that’s a bonus, but this is just to gain points in the world ranking for the Olympic qualifier in Tokyo,” he added.

Didal, 19, and Means, 21, will both compete in street, the same event where the Cebuana Didal won one of the four gold

medals the Philippines won in the Asian Games in August.

Didal’s growing credentials on the global arena includes her victory in the Exposure Women Skate competition in California last November where she bagged $7,000. Means, on the other hand, topped the AM Getting Paid tournament in Montreal, Canada, last September and pocketed $10,000.

Both Filipinas will be coached by Dani Bautista. Anthony Clavarall will be the

team manager.

After the SLS, Mendigoria said the association is looking to three more major international events for the two skaters.

“We heard that there will be a world championship in Japan and Hong Kong.

Maybe, an X Games again for Margie,” he said.

Mendigoria also said that regional championships in Luzon, the Visayas and Mindanao will be conducted to expand the local base. Ramon Rafael Bonilla

BIANCA AHEAD BY 2 Ueda carding a 73 for fifth followed by Aidric Chan and Thai Vanchai Luangnitikul, who turned in identical 74s.

Pagdanganan, the former Philippine Ladies Amateur champion, actually had a mediocre two-birdie, twobogey backside start, enabling Go, playing

in a flight ahead of Pagdanganan, Thitikul and Singapore’s Callista Chen, to take charge early on a strong start at the backside of the hazard-laden par71 layout.

Go birdied three of the first four holes to negate a bogey on No. 14 and took command with a 34.

But she bogeyed the first two holes at the front and hobbled with a 37 to slip to third with a 71 in the event held as part of the PLDT Group National Amateur Golf Tour and backed

by Cignal and Metro

Verzosa powers JRU past ‘Baste’ Pacific.

The fancied Thitikul, who won the inaugural Women’s Amateur Asia-Pacific crown in Singapore last year, edged Pagdanganan after nine holes, 35-36, but failed to match the Pinay ace’s scorching frontside charge, settling for one birdie for a 34 and 69.

Korean Kim Heeji, runner-up to compatriot Hwang Min-jeong last year, salvaged a 72 while Linna Loh, also of Singapore, carded a 73 followed by Kim Seo Yun and Nicole Abelar, who shot identical 75s, and Kang Da Yun, who made a 76, and Japan’s Tae Saito, Junia Gabasa and Thai Kultida Pramphun, who all turned in 77s.

Mikha Fortuna groped for form with a pair of 40s for an 80 in a tie with Inez Ng of Singapore and Bernice Ilas, with Chen limping with an 81.

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OLLY GRACE VERZOSA played solid all game long as Jose Rizal University (JRU) turned back San Sebastian College, 25-18, 25-20, 26-24, on Thursday to keep its hopes of returning to the Final Four alive in the women’s division of the 94th National Collegiate Athletic Association volleyball tournament at the Filoil Flying V Centre in San Juan City.

The power-hitting Verzosa unloaded a game-high 17 points, 16 she made on spikes, as the Lady Bombers grabbed their fourth victory against three defeats to move a step closer to the magic four.

Verzosa has been carrying most of the scoring load for JRU following the graduation of last year’s Most Valuable Player Shola Alvarez.

And she’s doing a great job so far for the Mia Tioseco-coached squad.

San Sebastian slipped from joint third with the College of Saint Benilde Lady Blazers (4-1) to fourth with a 4-2 card, alf a game ahead of No. 5 University of Perpetual Help and No. 6 JRU. JRU is eyeing to at least match its first ever Final Four stint last season when it wound up with a 6-3 record only to run into Arellano University—the eventual champion—in the Final Four.

The Lady Bombers, however, need to hurdle their last two assignments—the Lady Blazers (4-1) on Tuesday and the Lady Altas on January 17—to make it back to the semifinals.

Karen Cay Montojo provided the added scoring punch with her four points, all coming off kills.

In men’s play, San Sebastian defeated JRU, 25-22, 27-25, 25-15, to hike its record to 3-3.

San Sebastian also beat JRU, 25-2, 25-17, 25-21, to claim its second triumph against four setbacks in the juniors’ side.

‘COOL RUNNINGS’—THE FILIPINO VERSION B

FILIPINO bobsledders are aiming to qualify for the 2022 Beijing Winter Olympics.

ELIEVE it or not, but the Philippines has a bobsled team.

The Philippine National Bobsled Luge and Skeleton Association Inc. (PNBLSA) is fielding two two-man bobsled teams to the Alberta Cup Provincial Championship set next month in Canada.

According to PNBLSA President and Chief Executive Officer Thelmo Cunanan Jr., the association is the first organization of its kind in the Philippines and in Southeast Asia and is recognized by the Philippines Sports Commission.

The Filipino bobsledders are members of the Philippine Coast Guard, the official partner-organization of the PNBLSA. The two bodies signed a memorandum of agreement in September to develop the sport. The PCG

supplies the PNBLSA with athletes for local and overseas training programs.

The Filipino bobsledders are Seamen First Class Rolando Isidro Jr., Jerby Deriada and Joseph Acosta, and Seaman Second Class Jeffrey de la Cruz.

The Alberta Cup is organized by the Alberta Bobsleigh Association (ABA). There, the Filipino bobsledders will race against some of the best North American and international teams.

“We are looking forward to the Alberta Cup. This is the team’s first foray in North America and it will give our athletes more experience in the sport,” Cunanan said.

“We have two teams this year with powerful and experienced athletes, so I believe our chances of performing well in the

competition are good,” he added.

The PNBLSA is entering into a strategic partnership with the ABA, for the training of Filipino bobsledders, with the objective of making Calgary the team’s permanent home base. Last winter, two PNBLSA athletes trained in Innsbruck, Austria, for four months and competed in bobsled derbies in the Europa Cup (as guest racers) and Tirol Cup. Explaining the move to Calgary, Cunanan, the country’s consul to Canada, highlighted the excellence of Canada’s winter sports program, the familiarity of the medium of instruction (English) and the support of the ABA and the Filipino-Canadian community.

“We are very excited to make Calgary our team’s new home as we admire Canadian bobsledders and their instructors who have

greatly distinguished themselves. We also feel that the operating environment in Canada and the support of the ABA and the local Filipino community are ideal for the advancement of our team and our long-term objectives,” he said.

The ultimate goal of the team is to qualify for the Beijing Winter Olympics in 2022.

“We’ve already made the first steps.

We are officially the first Filipino and Asean bobsled team. We’re confident that we can accomplish great things with the help and support of our friends and Filipino brothers and sisters in Canada,” he said. “Hopefully, we’ll be able to represent the Philippines in Beijing in 2022.”

The team is backed by San Miguel Corp.

NOT A POT OF GOLD A TLANTIC CITY, New Jersey—The race to legalize sports betting is on now that the US Supreme Court has allowed it in all 50 states, but will it provide enough extra tax revenue to make much of a difference for schools, roads or pension debt?

Don’t bet on it.

Just look to the states that capitalized immediately after the court’s ruling last spring and to Nevada, which previously had an effective monopoly on sports gambling.

Even though the market is still developing, the returns to date have been modest.

In Nevada, revenue from sports betting has accounted for roughly one-half of 1 percent of the entire state budget.

“Everything I’ve seen so far suggests that this would not be what one would consider to be a pot of gold,” said Ohio state Sen. John Eklund, a Republican who introduced legislation to legalize sports betting in his state.

Delaware, Mississippi, New Jersey, Pennsylvania, Rhode Island and West Virginia legalized sports betting last year after the Supreme Court decision, as did the District of Columbia. Although New Mexico has not passed a sports betting law, the Santa Ana Star Casino & Hotel started taking bets in October through a tribal gambling compact.

Lawmakers in Kentucky, Missouri, Ohio, Tennessee and Virginia already have filed bills to allow sports betting, and those who track the industry expect a total of 30 states to consider similar ones this year.

The expected stampede of states seeking to legalize it has parallels to the growing trend toward legalizing recreational marijuana, which 10 states have done and others are considering.

As with marijuana, lawmakers say they are motivated in large part because sports betting has been a black market activity outside Nevada. Legalizing it would allow states to impose regulations and take in at least some money.

“I keep telling them this is not like a craps table or a slot machine,” said Mark Sickles, a Democratic state lawmaker in Virginia who has sponsored a bill that would place a 15-percent tax on sports betting in the state. “My main purpose is to take something that’s currently being done illegally and get some tax revenue from it.”

Revenue from legalized pot makes up just a small portion of state revenue, even in the states with the most mature markets—about 2 percent in Colorado and a little over 1 percent in Washington, according to a May report from Moody’s Investors Service. That’s still a far larger portion of revenue than even the most

optimistic projections for sports betting.

New Jersey was the first state to legalize sports betting after the Supreme Court decision last May. The state’s gambling industry took in $928 million worth of sports bets since the first one was taken on June 14 through the end of November. From that, the state received less than $8 million in tax revenue.

Even if the state meets its projection of $25 million in sports betting tax revenue for a full year, that would amount to well under one-tenth of 1 percent of the state’s $37.4-billion budget.

Former New Jersey state Sen. Raymond Lesniak began the effort to legalize sports betting there 10 years ago with what at the time seemed like a quixotic lawsuit against the federal government. He said sports gambling was not supposed to be a big moneymaker for the state.

“It wasn’t intended to do that,” he said. “I was driven by the fact that the Atlantic City casino industry was dying and the horse racing industry was on life support. It needed an injection of new money and new people that would come, fill up rooms, eat in restaurants, spend money.”

Lesniak expects sports betting to eventually generate over $100 million in taxes for the state once all New Jersey’s casinos and racetracks have sports books up and running

Sports BusinessMirror

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| Friday, January 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Coach pleads guilty in corruption case N EW YORK—A former assistant basketball coach for the University of Southern California pleaded guilty on Wednesday to conspiracy to commit bribery, admitting he accepted $4,100 in cash to steer players at the school to certain financial advisers and business managers.

Tony Bland’s plea in Manhattan federal court makes it likely he will spend little or no time in prison after he is sentenced on April 2.

“On July 29, 2017, I met with others in Las Vegas, Nevada, to discuss my

participation in the scheme and received a payment of $4,100,” he told US District Judge Edgardo Ramos.

Bland admitted to federal authorities after his September 2017 arrest that he took a cash payment to steer players to advisers and managers and that he knew it was wrong, Assistant US Attorney Eli Mark said.

Bland, 38, of Los Angeles, was among four assistant coaches charged in the crackdown on college basketball recruiting corruption.

Former Auburn assistant coach Chuck

Person and another man are scheduled to go on trial in February. Former Arizona assistant Emanuel Richardson and former Oklahoma State assistant Lamont Evans are defendants in a trial set for April.

Prosecutors say the coaches teamed up with a top Adidas executive and others to trade hundreds of thousands of dollars in bribes to influence star athletes’ choice of schools, shoe sponsors, agents and even tailors.

In October, a Manhattan federal court jury convicted three men of fraud charges for

channeling secret payments to the families of top-tier basketball recruits to influence their choices of schools, apparel companies and agents.

Former Adidas executive James Gatto, business manager Christian Dawkins and amateur league director Merl Code are scheduled to be sentenced in March.

More than two dozen schools have been tainted by the scandal since the 2017 arrests, for everything from paying for meals to six-figure payments to recruits’ families. AP

FORMER New York Giants linebacker Harry Carson places a bet on the New York Yankees to win the 2019 World Series at Resorts Casino in Atlantic City, New Jersey. AP

for a full year. That would be 10 times the level of tax revenue being generated right now, when many sports betting operations in New Jersey are in their infancy.

Yet, experts say sports betting revenue in New Jersey and elsewhere is likely to be diluted as more and more states jump into the game.

New Jersey’s market is being squeezed on one side by Pennsylvania, which recently began offering sports betting, and on the other by New York, which is likely to pursue legalization this year.

For perspective, New Jersey’s casino revenue at the end of 2006, when

Pennsylvania opened its first casino, was $5.2 billion. A decade later, that number had been cut in half and Pennsylvania had more casinos.

The states that have launched sports betting this year expect they will bring in tax revenue that ranges from about $5 million in Mississippi and West Virginia to $25 million in New Jersey. In each state, hitting those targets would account for just a fraction of 1 percent of state spending.

Even Rhode Island, which has the highest sports betting tax rate at 51 percent, estimates it will take in $23.5 million a year, or a quarter of 1 percent of the state’s budget. AP

The year of the youth

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EAR God, a salute to the youth, the torchbearers of our hope. As we proceed with the nine-year preparation for the celebration of the 500th anniversary of the arrival of Christianity in the Philippines (1521-2021), we are now in the seventh stage of our challenging journey, the year of the youth. We do our best to show to the youth the importance of their role as the torchbearers of hope. We continue to pray and educate them on how to be good Christians. 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

SOMETHING LIKE LIFE: 8 THINGS I’M GRATEFUL FOR IN 2018 D3

Friday, January 4, 2019

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Happy New Year!

Can’t keep your New Year’s resolutions?

Try being kind to yourself

BY KRISTIN NEFF University of Texas at Austin

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ANY of us will start out the New Year by making a list of resolutions— changes we want to make to be happier, such as eating better, volunteering more often, being a more attentive spouse and so on.

But, as we know, we will often fail. After a few failures we will typically give up and go back to our old habits.

Why is it so hard to stick to resolutions that require us to make effective or lasting changes?

I would argue the problem isn’t that we try and we fail—the problem is how we treat ourselves when we fail. I study self-compassion, and my research and that of others show that how we relate to personal failure—with kindness or harsh self-judgment—is incredibly important for building resilience.

From early childhood, we are taught that we must succeed at all costs. What most of us aren’t taught is how to fail successfully so we can change and grow.

One of the best ways to deal with failure is to have self-compassion.

WHAT EXACTLY IS SELF-COMPASSION? I DEFINE self-compassion as having three main components: self-kindness, common humanity and mindfulness. Self-kindness refers to the tendency to be caring, understanding and supportive toward ourselves when we fail or make mistakes rather than being harshly critical or judgmental.

Common humanity involves recognizing that all humans are imperfect, and connecting our own flawed condition to the shared human condition so we can have greater perspective on our shortcomings.

Mindfulness involves being aware of the pain associated with failure in a clear and balanced manner so that we neither ignore nor obsess about our faults. The three together combine to create a selfcompassionate frame of mind.

A large body of research shows that selfcompassion results in greater emotional well-being.

One of the most consistent findings in this research is that greater self-compassion is linked to less

depression, anxiety and stress.

In addition to reducing such negative mind states, self-compassion appears to enhance positive mind states such as optimism, gratitude and curiosity. By meeting one’s suffering with the warm embrace of self-compassion, positive feelings such as happiness are generated at the same time that negative emotions are alleviated.

Self-compassion has been found to be an important source of coping and resilience in the face of various life stressors such as divorce, chronic health conditions or military combat. It also reduces body dissatisfaction and even leads to healthier eating behavior (relevant to many New Year’s resolutions!).

MISGIVINGS ABOUT SELF-COMPASSION IF self-compassion is so good for us, why aren’t we kinder to ourselves?

Perhaps the biggest block to self-compassion is the belief that it will undermine our motivation.

In parenting circles we no longer hold to the adage “spare the rod, spoil the child.” When it comes to our own selves, however, many of us think that sparing the rod of harsh self-criticism will turn us into lazy, self-indulgent ne’er-do-wells. This theme constantly comes up in the workshops I teach.

Of course, the dynamics that go into motivating our children and motivating ourselves are quite similar. Let’s say your teenage son were to come home with a failing English grade. You have two ways to motivate him to try harder and do better next time.

You could admonish him and tell him how stupid he is and that you are ashamed of him. The other option is, knowing how upset he is, you could give him a hug and gently ask him how you could support him in doing better next time. This type of caring, encouraging response would help your son maintain his self-confidence and feel emotionally supported.

The same goes for how we respond to ourselves when we fail.

HOW DOES SELF-COMPASSION INCREASE MOTIVATION? A GROWING body of research indicates that self-

compassion is linked to greater motivation. Selfcompassion has been associated with increased personal initiative—the desire to reach one’s full potential.

Self-compassionate people are also more likely to adopt “mastery goals,” which focus on learning and mastering material to increase competence, and less likely to adopt “performance goals,” which are primarily concerned with succeeding to make a favorable impression on others.

While self-compassionate people have performance standards that are as high as those who are harshly self-critical, they don’t get as upset when they don’t reach their goals. As a result, selfcompassionate people have less performance anxiety and engage in fewer self-defeating behaviors such as procrastination.

Not only are self-compassionate people less likely to fear failure, but when they do fail they’re more likely to pick themselves up and try again.

A series of experiments by psychologists Juliana Breines and Serena Chen from the University of California at Berkeley examined whether helping undergraduate students to be more selfcompassionate would impact their motivation to change.

In one study, participants were asked to recall a recent action they felt guilty about—cheating on an exam, lying to a romantic partner, saying something harmful, etc.—something that still made them feel bad when they thought about it.

Next, they were randomly assigned to one of three conditions. In the self-compassion condition, participants were instructed to write to themselves for three minutes from the perspective of a compassionate and understanding friend.

The second condition had people write about all their positive qualities, and the third about a hobby they enjoyed. These two control conditions helped to differentiate self-compassion from positive self-talk and positive mood in general.

The researchers found that participants who were helped to be self-compassionate about their recent transgressions reported being more motivated

to apologize for the harm done and more committed to not repeating the behavior than those in the control conditions.

SUSTAINING MOTIVATION THROUGH KINDNESS ANOTHER study in this same series of experiments explored whether self-compassion would directly translate into greater efforts to learn after failure.

Students were given a difficult vocabulary test they all did poorly on.

One group of students was given an instruction to be self-compassionate about their failure. The instruction said: “If you had di��iculty with the test you just took, you’re not alone. It’s common for students to have di��iculty with tests like this. If you feel bad about how you did, try not to be too hard on yourself.”

Another group was given a self-esteem boost, which said, “If you had difficulty with the test you just took, try not to feel bad about yourself—you must be intelligent if you got into Berkeley!”

A third group of participants was given no additional instructions.

The students were next told that they would receive a second vocabulary test, and were given a list of words and definitions they could study for as long as they wanted before taking it. Study time was used as a measure of improvement motivation.

The students who were told to be selfcompassionate after failing the first test spent more time studying than those in the other two conditions. Study time was linked to how well participants actually performed on the test. These findings suggest that being kind to yourself when you fail or make mistakes gives you the emotional support needed to try your best, and to keep trying even when discouraged.

Kindness is the engine that drives us to keep trying even after we fall flat on our face. So this New Year, when you make and inevitably break your resolutions, instead of beating yourself up and then giving up, try being kind to yourself. In the long run you’ll be more likely to succeed. AP

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Friday, January 4, 2019

Society BusinessMirror

www.businessmirror.com.ph

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Time-out at Terry’s (CLOCKWISE) THE menu at Terry’s, aptly titled “The Art of Food,” is a great read, each entry a story in itself, like the Tarta Rusa Imperial, the inspiration for sans rival.

DELICIOUS discoveries and adventures await at all the Terry’s stores.

NOT quite red but heftier than a rosé, the Château Penin Clairet Bordeaux 2017 is a gem of a wine, a mustdrink at Terry’s.

THE Torta Riojana is one magnificent omelette, a must-try at Terry’s.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Graham Elliot, 42; Dave Foley, 56; Michael Stipe, 59; Patty Loveless, 62.

FERMENTATION

HAPPY BIRTHDAY: Don’t hide your true feelings. If you don’t address what’s wrong, you’ll keep spinning your wheels, accomplishing little. Turn this into a year to revise what isn’t working for you and building a strong base that will house your future dreams. Initiate change instead of letting others dictate the way things will unfold. Be your own representative. Your lucky numbers are 3, 12, 19, 27, 36, 43, 48.

CECILE MAURICIO

cecile.mauricio@gmail.com

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ARIES (March 21-April 19): Sensitive issues should be dealt with intelligently. Don’t let anger take over when patience is required.

Look for positive ways to share information and bring about changes that will benefit you, as well as those you love. ★★★★★

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HOULD I have the usual or do I order something I haven’t tried before? I was at the Terry’s at the Podium, torn between having a quick bite or taking a leisurely lunch. “Quick” would mean my favorite Cinco Jotas Béchamel Croquettes and the MESS sandwich afterward. An unhurried lunch would mean I can browse among the wine shelves while waiting for my Dinuguan Risotto (preparation time: 25 minutes) and then have the Tarta Rusa Imperial for dessert afterward.

Dining and shopping at Terry’s are both adventure and reassurance—that everything on the menu is delicious and that something equally yummy is just waiting to be discovered. The actual menu makes interesting reading.

Each entry is a story in itself and, I have come to realize, the story (at least partly) of the owner himself, “JC” Juan Carlos de Terry. Take the menu cover: an image of jamón legs suspended from the ceiling, in the cavernous curing room of Cinco Jotas, the famous brand of jamón Ibérico. JC, an accomplished photographer, had taken the photograph himself on one of his regular trips through Spain to visit family and suppliers. (Cinco Jotas is both family and supplier as Fernando Terry, of the Osborne family that owns Cinco Jotas, is his nephew.) The Dinuguan Risotto, enriched with black sausage and Basque chili peppers, is JC’s take on his favorite dinuguan, a recipe he created for the first edition of the Madrid Fusión Manila in May 2015. The MESS—“Mr. Eduardo’s Special Sandwich”—has the distinction of being the first ever sandwich at Terry’s: smoked pork ham, pepper salami, Tomme de Savoie cheese, tomato slices and lettuce, bound together with JC’s special dressing on ciabatta, the bread I always have.

But that day, after a particularly frenzied morning of meetings and traffic, I needed more than a sandwich. That was how I ended up at Terry’s at The Podium, my go-to place for a little bit of quiet and plenty of nourishment. I was ushered into one of the banquettes (the only vacant one), each one a seating for four, lined up by the wall. How lucky, I thought, for a solo diner without a reservation to get coveted seating. It was noontime, the peak of the lunch hour and the store was bustling. A gentleman heading to the checkout counter with a pack of coiled chorizo, did a double take and detoured at the wine shelves where two other ladies were looking through the bottles.

Was he going to pick out wine for the chorizo? A staff member was busy wrapping holiday gift baskets.

There was a burst of laughter from the mezzanine

b

TAURUS (April 20-May 20): Make your dreams come true by setting your sights on what you want and putting in the effort to make it happen. Stamina and determination will help you complete your mission. What you learn will be a game changer. ★★★

c

GEMINI (May 21-June 20): Keep your life simple by sticking to the truth and living moderately. Think matters through to come up with a financial plan that will help you save for something special. ★★★

d

CANCER (June 21-July 22): Share your thoughts and feelings with people who can offer you worthwhile suggestions. With a little imagination, you will come up with a plan that will improve your relationships at work and at home.

Romance is in the stars. ★★★

e at the other end of the room. How can a store be this busy and still be peaceful?

Whoever were up there must be having a good time and maybe having some wine too, I told the server who handed me the menu. When the server came back to take my order, I had made up my mind: the Tortilla Riojana to start with and after, the dish intriguingly called “The Perfect Salmon,” marked with an icon that said it was a JC original. (Either of two icons can appear beside an entry on the menu: one that signifies the dish as a must-try or as a special JC creation.) And (unlike the happy group in the mezzanine) I was having a glass of the Château Penin Clairet Bordeaux 2017. (That same server took the time to find out if the group in the mezzanine had indeed ordered some wine.)

The wine-by-the-glass selection is another musttry at Terry’s. There would almost always be three wines—red, white and rosé—all carefully chosen from the impeccable wine list. The Château Penin Clairet was the hidden gem waiting to be discovered.

Clairet (not to be confused with claret) is a Bordeaux specialty, made from the Bordeaux red wine varieties, although Merlot is the grape of choice, either alone or as the predominant grape in the blend. Not quite as

hefty as a red, but with enough muscle to pair with heavier fare, Clairet straddles both worlds of red and rosé and is still light enough to be served chilled. The Château Penin Clairet is from Quinsac, a commune in the Premier Côtes de Bordeaux where clairet is thought to have originated. How like JC de Terry to find a gem like this and bring it to his stores for people to enjoy.

The Tortilla Riojana, marked by a “must-try” icon on the menu, now joins my list of favorites—“a distinctive omelette stuffed with slow-cooked onions, potatoes and roasted piquillo peppers sautéed with Chorizo Alejandro from Rioja,” read the description on the menu. “The Perfect Salmon” was just that— perfect, with JC’s stupendous sauce made with cava, smoked salmon, organic dill and Dijon whole grain mustard. I thought of forgoing dessert, but how can I leave without having the grand Tarta Imperial Rusa, the precursor of the sans rival? And then, with the last sip of the clairet still lingering in my head, I walked out into the blazing afternoon sun, fortified by JC de Terry’s generosity of spirit, manifest in the beautiful meal I just had.

There will be time enough this New Year for more delicious discoveries—and more wine at Terry’s. ■

Diamond Hotel Philippines cited at 23rd Mabuhay Awards THE Association of Human Resources Managers (AHRM) for Hotels and Restaurants recently named Diamond Hotel Philippines’s Laundry Attendant Victor Madela as the Heart of the House category winner during the 23rd Mabuhay Awards.

In the photo are (from left) Ma. Christina Aquino, chairman of the Tourism Industry Board Foundation Inc. and director for Linkages and Standards of Lyceum of the Philippines University Manila; Fr. Rolando Mactal, O.P, rector of Santo Domingo Church; Annabelle Ochoa, AHRM Lifetime Member; Victor Madela, laundry attendant of Diamond Hotel Philippines and 23rd Mabuhay Awards Winner for the Heart of the House category; Vanessa Ledesma-Suatengco, general

manager of Diamond Hotel Philippines (www.diamondhotel. com); Maria Janella Ceriola, 22nd Mabuhay Awards Heart of the House Winner; and Myrna Reyes, AHRM PRO. Every year, the AHRM awards distinction of honors to the best managers, supervisors and rank-and-file staff from the hospitality industry by holding the annual Mabuhay Awards, which is considered the most prestigious service award given to the outstanding men and women in the hospitality industry in the Philippines.

Vic won over other strong candidates from participating hotels and restaurants after a tedious selection process by a prominent board of judges.

LEO (July 23-Aug. 22): Embrace change with open arms and an open mind.

What you discover while going through a transformation will help you come to terms with situations that have been hanging over you emotionally.

Focus on the present, and let the past go. ★★

f

VIRGO (Aug. 23-Sept. 22): Network and socialize, and you’ll discover new people and interests that will open your eyes to a big, bright future. Let your objectives be personal growth, learning and applying what you know to future endeavors. ★★★★★

g

LIBRA (Sept. 23-Oct. 22): Ease into whatever you do. Now is not the time to make a fuss at home or at work. Listen and assess the situation. Your best recourse is to formulate a plan that will give you something to fall back on. ★★

h

SCORPIO (Oct. 23-Nov. 21): Look at the possibilities and focus on what you can do.

Don’t try to fight a losing battle. Use your head to come up with a way to micromanage a tough situation. ★★★

i

SAGITTARIUS (Nov. 22-Dec. 21): A lifestyle change or making improvements at home will boost your morale as long as you don’t go over budget. You’ll see a situation differently if you observe the way everyone around you handles the changes taking place. ★★★

j

CAPRICORN (Dec. 22-Jan. 19): Be secretive about the changes you want to make until you have everything in place, and you’ll avoid interference that can set you back and ruin your plans.

Precision will help you move forward without a hitch. ★★★

k

AQUARIUS (Jan. 20-Feb. 18): If you ask for help, you will receive it. Sharing your feelings with someone you love will bring you closer together. A change to the way you handle your money will bring positive results. An offer should be considered. ★★★★★

l

PISCES (Feb. 19-March 20): Be part of something you believe in. Taking a step in a different direction will be eye-opening. A romantic gesture will help bring you closer to someone you love. Make health a priority. ★★ BIRTHDAY BABY: You are independent, reliable and insightful.

You are encouraging and steadfast.

‘just browsing’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 “My stars!”

5 Group of cookies 10 Object on stage 14 Poker stake 15 Romaine concern 16 “What a disaster!”

17 Forward-thinking sort?

18 Large suburbs near a major roadway 20 Backup strategy 22 Chefs 23 Rapper in Hennessy ads 24 Runs out of juice 26 Soccer stadium chant 28 Coat for an African adventure 33 Bush ___ (the ’00s) 34 Dave of the Foo Fighters 35 Spotify selection 39 Deep cut 41 Scandinavian toast 43 Vogue alternative 44 Low female voices 46 Sesame Street regular 48 Carry with effort

49 Binoculars at the Met 52 Brunei big shot 55 Make edits for length 56 Isle of Dogs voice actress Yoko 57 Jimmy of NYPD Blue 61 Conceited look 64 Bald head, facetiously 67 Begging word 68 Basketball Hall of Famer Jason 69 South Korea’s capital 70 Rachel’s biblical sister 71 Went 100, say 72 Chills (with) 73 “Highly Questionable” channel DOWN 1 Inhale suddenly 2 Starting law student 3 Extremely loyal 4 Weightlifter’s injury 5 Insect such as a queen 6 Electrically flexible 7 “For here or ___?”

8 Egyptian queen’s nickname 9 Lawman “Wild” Bill

10 11 12 13 19 21 25 27 28 29 30 31 32 36 37 38 40 42 45 47 50 51 52 53

Ceramics creation Zoo heavyweight, briefly Shaqtin’ a Fool host Rapper’s squad Bit of land in the ocean Floating ice block Knights To be, to Jeanne “Sonic the Hedgehog” company Shrinking Asian sea Batman’s foe, with “The” Spanish for “now” Harsh bell sound Visibly happy Miss Scarlet’s game Big beer containers “What a ___!” (“Hahaha!”)

Merry ditty Muscle jerk Units of corn Become tangled Easy Dr. Seuss’ Fox in ___ Square

54 58 59 60 62 63 65 66

“Royals” singer Inspirational thought Animated Rick or Morty Puffed-up Take in crops Actress Madeline Strange Llama’s head?

Solution to yesterday’s puzzle:

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Friday, January 4, 2019

8 things I’m grateful for in 2018 SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

T

HE year 2018 ended on a sad note with the passing of a dear friend and a number of much-loved relatives, but death is as much a part of the lifecycle as births are. We only need to accept this and muster the courage to bear our grief with dignity. Death for many of those I had been fond of, was a release from the aches and pains of one’s mortal body. So while I shall miss all of them, I comfort myself with the knowledge that they are now free from physical suffering.

Indeed the past year was a roller-coaster of thrilling and sordid events and experiences in our lives. But as I look back on mine, truth to tell, there were still a lot of things to be thankful for. At this stage of my existence, I think I’m still financially secure, generally healthy (although the occasionally bouts with asthma have been a bummer), and, best of all, I am surrounded by family and friends who I adore and, hopefully, love me back!

Here are eight things I’m grateful for in 2018: 1. Boracay reopened. While its rehabilitation had not been carried out in the most efficient manner that could’ve minimized the pain of those living and working there, the paradise island’s reopening has made many hopeful that they will resume earning again, and at the same time the environment will remain clean and serene—as long as everyone works together to protect it. Of course, it still has a long way to go in terms of being a perfect model for sustainable tourism and development, but it certainly has attracted the attention of the world in terms of government’s tenacity and seriousness in cracking down on polluters in many of the country’s tourism destinations.

2. My niece’s wedding. Weddings are joyous occasions, especially for those whose nearest and dearest are the ones getting married. My niece Nikka (Big Sister’s youngest daughter) and her then-beau Paul made the trip to the altar last February 10, in an intimate ceremony with close friends and family.

It turned out to be one of the last great weddings and receptions on Boracay Island, as we dined and partied on the beachfront of Discovery Shores and were entertained with a short fireworks display and authentic firedancing. These days, overregulation has stifled the fun out of Boracay weddings, choking the

vibrancy out of the island and its people.

3. Inflation and the TRAIN law. While the two may not necessarily be intertwined, as government officials insist, and while both are in reality additional burdens on the public, the rising prices of consumer products like rice, sugar, fuel and the like certainly woke up the slumbering natives who had been initially enamored by the resident in Malacañang.

Suddenly, not everything is bright and sunshine-y in the world promised to them. And, sure, drug addicts may have been erased from the face of the Earth, but this surely hasn’t helped create jobs for the jobless, or put more food on their tables for their families’ ever grumbling stomachs, which are more pressing concerns for the majority.

4. Rekindling friendships. 2018 was the year I met up with a number of revered, adored and much respected old friends who I haven’t seen in ages.

Facebook may have kept us in touch with the goingson in each other’s lives, but seeing them up close, dining together even over a simple bulalo, and talking and laughing out loud over the corniest jokes has just been pure joy. You know who you are...thanks for the continuing love and friendship.

5. More writing/editing gigs. Aside from working for this great business paper, I’m happy to have expanded my professional horizons. While I’m unable to go into more details, I am just glad that I’ve reached a point in my career that my particular skill set are still valued and sought-out. So grateful for the opportunities.

6. No major health scare. In 2018, I seem to have won the battle against the evil cholesterol that my internist finally took me off statins. Yay! I can only assume it must because of my habit of walking across three malls in my neighborhood (hahaha!), and using only coconut oil in most of my cooking. A visit to a specialist as the fourth quarter rolled in gave me quite a relief. I wasn’t suffering from a kidney stone as I had initially feared, but a simple medical condition easily treatable with regular drugs and lots of water.

7. Netflix. The streaming service has kept me home and out of trouble most nights. But really because it gave me the chance to watch a lot of excellent films, catch up on outstanding TV series, and revel in the finest comedies for a price cheaper than your basic cable TV subscription and a night at the movies. To Miggy, who had finally succumbed to the

Netflix habit, I recommend the complete How I Met Your Mother series, Billions, Ray Donovan, Agents of Shield, Jessica Jones, Sta. Clarita Diet, and, lately, Roma. (But forget about Bird Box.) 8. Great food. My tummy was kept happy and content with new foodie finds, even as I practiced my cooking skills with dishes I created myself. Armed with a new tabletop convection oven, I managed to roast a Cebu lechon belly and deliciously seasoned chicken, slurped down plump and juicy Aklan oysters at Wantusawa in Poblacion and at Pig Out Bistro/ Maya’s Restaurant in Boracay, snacked on excellent burrata from the Negros-based Casa del Formaggio, was delighted by new treats like the mushroom cannelloni from Daily Feast, and wrote my best pieces fired up by inspiring coffee from local and Indonesian coffee farmers.

2018 may not have been a perfect ride for most of us, but through all the bumps, we managed to survive, with just a little bit of our sense of humor and sanity still intact, and a grateful heart for the bountiful blessings received. With the unknowns in 2019 now laying ahead, I’ve got my seatbelt securely fastened, praying for a smoother ride, and that all shall be well. ■

Likes that become unwelcome: Another thing for online daters to worry about IF you’ve dated in the age of social media— particularly now that you’ve pivoted from posting the occasional status update to running 24/7 multiplatform documentaries of your existence—chances are you’ve been watched, liked and followed by a crush, a lover or an ex.

Prying eyes on Instagram, Snapchat and Twitter can be exciting when they come from a prospective romantic partner, confusing when unrequited and infuriating when the looker is an ex. In the last case, it’s as though the specter of a Relationship That Could Have Been is peeping over your shoulder, keeping tabs without having to commit to any real-world interactions.

Naturally, there is a name for this 21stcentury phenomenon, which has joined ghosting, Netflix and chill, breadcrumbing and other recent entries to the dating lexicon. It’s called orbiting.

Unlike ghosting, which is a fancy word for disappearing from a lover’s life without notice, orbiting could not have existed before the dawn of social media. It is a behavior bound to the medium, and to an age in which people can be hyper-connected without ever speaking. Distant methods of digital observation—likes, views, etc.—are what binds the orbiter and the orbited.

The way it feels to be orbited depends on your relationship to the orbiter. When you’re interested in the satellite entity watching your social media activity, orbiting brings an endorphin rush, the feeling of being circled by someone you want to get closer to. But when it’s bad, it’s bad. There’s the frustration of wondering why an ex would rather watch your life than be part of it. There’s disappointment when someone who has been orbiting for some time never does get any closer. And

there’s acceptance of the hard truth of all digital romance: Eventually the relationship must be taken offline or brought to an end.

Kristine Mahan, 23, of Denver, came to experience orbiting after a “painfully digital” seven-month-long relationship with someone who lived in Minnesota while she lived in Boston. One day, not two weeks after they had last visited each other, he stopped responding to texts and Snapchats all at once and without warning, as if the past several months had been simply deleted. “One thing he didn’t stop doing, though, was watching my Stories and liking photos on Instagram,” Mahan said. At first she felt hurt by the silence and confused by her ex’s sustained surveillance of her online life. But after some time, Mahan came to see the behavior as a form of contact. “I felt the urge to send subliminal messages via my Instagram

Stories, knowing that was the only way I could communicate with him,” she said.

Ian Coon, 21, of Des Moines, Iowa, ditched Snapchat altogether, in part because of the number of former friends and dates who were orbiting his account. When he met his current boyfriend, he said, “if I cared enough to get to know him, I had to text or FaceTime or— gasp—go on a date.”

Sometimes, orbiting is so inexplicable that it just feels rude. Alexi Mojsejenko, 22 and living in New York, believes there’s someone from her past who views her Stories to spite her but withholds likes and comments on her Instagram posts. “Orbiting, in this sense, just feels very passive-aggressive,” Mojsejenko said, “like a silent and lonely battle.”

Kate, a 27-year-old living in Colorado, took a more positive view. She says that orbiting has

become a form of flirting for many people.

“The bold ones will go far and like things from way back, which is definitely saying something,” she said, referring to posts on her Instagram account. “Or they are just clumsy and accidentally showed they stalked.”

Regardless, it’s a fact that dating is confusing, and orbiting can make that worse. Small online behaviors are infinitely interpretable, making it impossible to understand where you and another person stand. The lurking of a potential connection makes you wonder whether he or she will ever materialize in person. And the orbiting ex only serves to keep you mired in a shadow version of the relationship, wondering, each time he or she views one of your Stories, what happened or what could have been.

NEW YORK TIMES NEWS SERVICE

GSK, Orange Day revisits Gawad Kalinga village in Sagay, Negros Occidental IN 2015, GlaxoSmithKline (GSK) Philippines donated 50 houses to Gawad Kalinga (GK) for residents of Sagay in Negros Occidental who were left homeless

by Supertyphoon Haiyan (local code name Yolanda).

GSK believes in Gawad Kalinga’s model of shared contribution and accountability, making sure that its partnership with the community would not only be about handing over the 50 houses for some of the residents of Sagay but also helping ensure that a sustainable community health approach would be in place.

The pharmaceutical company also believes that durable shelter is a basic human need, critical to the recovery of Sagay residents. The company also sees that better health is as important as a durable home.

Thus, in 2016, GSK followed through with a donation of a fully equipped

community Orange Health Center.

On November 23 employees of GSK Philippines visited 16 Gawad Kalinga and two Smile Train sites in the country as part of its Orange Day. Sagay was one of the 16 GK sites. Volunteerism is the spirit behind GSK’s Orange Day, when employees get one paid day off to volunteer at a nonprofit organization of their choice.

“We remain humbled and inspired by the resilience, courage, and bayanihan spirit among the families here in the Gawad Kalinga community in Sagay.

Today, as in every year, we return to Sagay for our annual Orange Day, and we are very pleased to see the community further flourishing, the families sustaining their livelihoods, and the children healthier.

We also heard stories of lives saved by the nebulizing machine and oxygen tank available at the health clinic,” said

Rommel Abuda, head of public affairs and communications for GSK Philippines.

“As a business that deals with saving lives, our goal is to meet our responsibilities and the evolving expectations of the society and the communities where we operate, while working to achieve our aspiration to become one of the most innovative, best performing and trusted healthcare companies,” said Sriram Jambunathan, general manager of GSK Philippines Pharmaceuticals.

“On our 50th anniversary this year, GSK Philippines, with our highly engaged employees all over the country, remain strongly committed to our purpose— helping more Filipinos do more, feel better and live longer,” Jambunathan shared.

GSK expressed its commitment to visit again the Gawad Kalinga Sagay community this year for its Orange Day.

GSK Philippines employees, with General Manager Sriram Jambunathan, at Gawad Kalinga Sagay, Negros Occidental

D3

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Friday, January 4, 2019

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JWAN YOSEF (left) and Ricky Martin at the 70th Primetime Emmy Awards at the Microsoft Theater in Los Angeles. AP

RICKY MARTIN AND HUSBAND WELCOME BABY GIRL LOS ANGELES—Ricky Martin is starting the new year with a new bundle of joy.

The Grammy-nominated singer announced the arrival of his daughter with an Instagram post showing off the infant’s tiny hands. Martin says the girl is named Lucia. Martin’s post didn’t include any additional details, other than that the baby girl is healthy. Martin’s post says his family, which includes husband Jwan Yosef and 10-year-old twin sons, have “fallen in love with Lucia.”

The “Livin’ La Vida Loca” singer garnered an Emmy nomination earlier this year for his supporting role in the FX series The Assassination of Gianni Versace: American Crime Story. AP

PIOLO PASCUAL, JM de Guzman, Maymay Entrata and Edward Barber led the Star Magic artists that came to support the relaunch of the Bantay Bata 163 Children’s Village on December 1 in Norzagaray, Bulacan, where they welcomed the first batch of residents of the newly renovated halfway home.

ABS-CBN stars turn out for kids GAB FAB JET VALLE

@jetvalle

JOSE MANALO STARS IN VST PRODUCTIONS’ FIRST FILM OFFERING

COMEDIAN and Eat Bulaga host Jose Manalo stars in VST Productions’ first feature film presentation Boy Tokwa: Lodi ng Gapo, directed by Tony Y. Reyes.

Based on a true story, from the accounts of friends of Rodrigo Morelos (a.k.a. Boy Tokwa), the movie sees Boy’s grandson, Andy Morelos Woods, head back to the Philippines to search the truth about his grandfather.

Andy soon learns that his grandfather’s greatest dream was to go to the US. Boy’s dream led him to Olongapo where his wit, ability and skills in card games became his tools for survival. Boy becomes a con artist that only targets foreigners and is well-loved by the community because of his loving nature, generosity and loyalty to friends.

During his stay in Olongapo, Boy meets and courts naval officer Anne McArthur, the granddaughter of Gen. Douglas McArthur, but was turned down. His journey eventually leads him to meet Patricia Woods, who is also a naval officer whom he marries and they are blessed with a child. But Boy soon finds himself in the midst of conflict within the community he considers his family.

Boy Tokwa also stars Joey Marquez, Karel Marquez, Allan Paule, Buboy Villar and Gian Sotto. It opens on January 8 in cinemas, with Axinite Digicinema distributing.

SAHAYA

A

NOTHER year has passed and hopefully I have turned out wiser. I don’t know but it has made me think that I will turn a year older again. Age suddenly becomes an issue. It must be my insecure homosexual hormones acting up again. When somebody asks me how old I am, I just say I am turning...around. I then talk about how Catriona Gray slayed in the recent Miss Universe pageant, or how my friend Allan is seething in jealousy over the recent photos of his twink crush, actor Kyle Echarri with his costar in Kadenang Ginto Andrea Brillantes, or how it’s all Gwen Stefani’s fault why the US has Donald J. Trump as its president and is now suffering for NBC’s mistake. I make my age a mistake—and riddle the answer to which depends entirely on the need of the moment.

It’s actually fun. When someone says I look like I’m about to turn 30, I turn pale and allow the lie to slink into the deepest recesses of my psyche. I hold my breath for a few seconds and smile like a Victoria’s Secret model who’s dating a rockstar.

When some bruha blurts an age—one year more than my real age—straight to my face, I use all my

strength to muster the dark side of the force so I can do what Darth Sidious did to people who oppose him: obliterate them to smithereens. Just to remind you, Sidious trained Darth Maul and Darth Vader, so you can imagine how dark this force we’re talking here.

But what the heck! Everyone turns 31! (Charot!)

Anyway, back to writing about the new year and since this is the first weekend of 2019, I would like to thank everyone who was kind to me in 2018. I hope I was kind to you too last year and hopefully we can continue being kind to one another. For 2019 I promise to open my heart to the gifts of the universe.

■■■ PIOLO PASCUAL, JM de Guzman, Maymay Entrata and Edward Barber led the Star Magic artists that came to support the relaunch of the Bantay Bata 163 Children’s Village on December 1 in Norzagaray, Bulacan, where they welcomed the first batch of residents of the newly renovated halfway home.

The opening of Children’s Village coincided with “Star Magic Gives Back,” the annual year-end activity of the country’s premier talent agency, where Star Magic artists and staff visit different institutions to bring early Christmas cheer.

Joining Piolo, JM, Maymay, and Edward at Children’s Village were Ysabel Ortega and Sharlene San Pedro, who along with JM serenaded the children with song numbers; Vivoree Esclito and Heaven Peralejo, who led the children in fun games; and other artists including Eric Nicolas, Enzo Pineda, Luke Alford, John Bermundo, Yasmyne Suarez, Gerard Acao, Karl Gabriel, Luis Hontiveros and Mark Rivera.

Meanwhile, other ABS-CBN stars visited the Good Samaritan Nursing Home for the Elderly in Marikina, the Craniofacial Foundation of the Philippines in

TODA One I Love

Manila, and St. Maria de Mattias in Marikina.

Earlier this year, over 300 Kapamilya artists came together to support the relaunching of Children’s Village through raising awareness on the issue of child abuse and pledging donations at the ABS-CBN Ball 2018. Bantay Bata 163 also received support from other donors including the Quezon City local government led by Mayor Herbert Bautista and Vice Mayor Joy Belmonte.

Bantay Bata 163 Program Director Jing CastañedaVelasco once again expressed her appreciation to the stars for taking time from their busy schedules to support their advocacy. “Star Magic is no stranger to making dreams come true, as it has nurtured its talents into the brightest and most recognizable faces in the industry today. We are truly grateful to have them with us as we rebuild lives and fuel the dreams of future generations,” she said.

The Bantay Bata 163 Children’s Village provides holistic healing for children at risk through physical and psycho-social means, and a structured, therapeutic, family-like environment. It serves as a place where every child can recover, thrive, and develop before being reintegrated with their families and molded into productive members of society.

The first batch of new residents include children previously under the protection of the Quezon City Social Services Development Department’s Reception and Action Center and the Microgeo Network in Filinvest.

Those who would like to donate, volunteer or participate in Bantay Bata 163 activities may call the 1-6-3 hotline. Donations can also be coursed online on www.abs-cbnfoundation.com or through the Bantay Bata 163 cans placed in establishments. ■

KARA Mia

GMA rolls out breakthrough programs in 2019 IN a stunning omnibus cinema plug playing in the ongoing Metro Manila Film Festival, GMA has unveiled its groundbreaking offerings slated to premiere on the first quarter of 2019. The plug features some of the network’s biggest stars who will headline this year’s cutting-edge programs.

Prime-time viewing will never be the same as GMA brings to light the inspiring story of a young Badjao woman who triumphed despite all life’s challenges in Sahaya. Throughout her journey, Sahaya remains true to her culture and beliefs as a Badjao, even defying the power of love. Headlining this extraordinary and unique masterpiece is the loveteam of Bianca Umali and Miguel Tanfelix. After starring in several shows together, Bianca and Miguel’s onscreen

chemistry has deepened making their scenes delightful to watch.

This time around, viewers will again witness the magic of their tandem as they capture the hearts of Pinoy audiences with their latest TV project. Soughtafter leading man Migo Adecer completes the love triangle with Bianca and Miguel.

Meanwhile, the well-loved pair of Kylie Padilla and Ruru Madrid will be seen onscreen in the political romantic comedy series TODA One I Love, under GMA Public Affairs.

Viewers will be entertained and at the same time educated with this prime-time offering in time for the upcoming midterm elections. The series gives viewers a glimpse of Philippine

local politics—all presented with a sprinkling of comedy and romance. Also in the cast are Gladys Reyes, Victor Neri, David Licauco, Jackie Rice, Kim Domingo, Tina Paner, Maureen Larrazabal, Raymond Bagatsing, Cai Cortez, Buboy Villar, Archie Alemania, Kimpoy Feliciano, Ayeesha Cervantes and Bruce Roeland, under the direction of Jeffrey Hidalgo and Nick Olanka.

Lastly, based on a true story from India and an urban legend in Great Britain comes Kara Mia. The highly anticipated series revolves around the riveting tale of two sisters, Kara and Mia, born with Diprosopus, or craniofacial duplication, a congenital defect where they have two faces but share only one body. Kara’s face is in front, while Mia’s face

is at the back of their head. Playing the role of Kara is one of this generation’s most talented actors, awardwinning GMA star Barbie Forteza. Barbie is at the top of her game and continues to deliver mesmerizing performances. Viewers should also look forward to Mika dela Cruz’s galvanizing talent as she portrays the role of Mia. Playing vital roles in Kara and Mia’s lives are Jak Roberto and Paul Salas.

Four of the country’s top-caliber actors—Carmina Villarroel, Glydel Mercado, Mike Tan and John Estrada—deliver powerful performances in this fantasy drama. Alicia Alonzo, Althea Ablan, Liezl Lopez and Karenina Haniel complete the star-studded ensemble. Kara Mia is under the helm of Albert Langitan.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, January 4, 2019 E1

SCANIA PRESENTS THE modern-looking Scania Marcopolo which offers deluxe coach experience

THE NEW MARCOPOLO S

Story & photos by Randy S. Peregrino

CANIA is a new player which is among the roster of known European truck manufacturers in the Philippines. It has brought its lineup of heavy-duty trucks since 2015.

This Swedish truck maker introduced its latest deluxe bus—the new Marcopolo. Dubbed by Scania as a complete coach and solution, the Marcopolo not only offers safety and comfort, but it is also for ultimate passenger experience.

In order to feel the first-class ride of the Marcopolo, Scania Philippines recently hosted members of the media and bloggers for a ride event and trip to the province of Pampanga.

Exterior-wise, the massive and tall frame denotes what a modern bus should look like—curvy edges with aerodynamic fascia. But that’s not all as the front end design highlights an extensive glass windshield and sleek-looking headlamps. Interior-wise, meantime, you’ll see more of what Scania is talking about. What greeted us were the light and breezy color motif of the 49-seater cabin with LED ambient light running along the overhead compartment. Noteworthy also was how the aisle and seat flooring are levelled unlike the typical bus layout. Settling was absolutely easy as there was enough legroom.

In fact, aside from reclining, aisle seats even have lateral adjustments to further create space in between.

Overhead consoles are also upto-date with smaller yet powerful air-vents, which has flow control-

ler along with the LED reading lights and attention buttons. There are also LED screens upfront and smaller units in the middle for visual entertainment. As soon as we hit the road, more of the comfort features were experienced.

For one, the supple ride provided by the coach’s air suspension was clearly noticeable. The suspension system is even capable to adjust the vehicle’s ground clearance for easy passenger ingress/egress. There were less vibration and exterior noise level inside. So cruising along the freeway was absolutely blissful thanks to the comfy seats, cool air-con, soft and quiet ride. What’s more, there are even USB chargers installed between the foot rest for smartphones and gadgets. Now that’s something cringe-worthy for the gadget addicts.

Derived from the K 360 IB 4x2 platfrom, the Marcopolo is powered by 13-liter DC13 six-cylinder in-line, four-valves per cylinder, turbo-charged and intercooled diesel engine. Its capable to generate 360 hp at 1,900 rpm and 1,750 N-m of maximum torque at 1,000 -1,350 rpm. Paired to an eight-speed automated manual gearbox, the Marcopolo is also equipped with cruise control and speed limiter functions. Safety-wise, there are five CCTV cameras inside the cabin and

COMFY seats with recline and lateral adjustments equipped with safety belts

THE driver’s advanced cockpit layout

USB chargers for smartphones and other gadgets

all seats are installed with safety belts. Other standard safety features are the Scania Retarder – automatic and manual control, Disc brakes on front and rear axle, full

UP-TO-DATE overhead console and LED display

air brakes with independent circuits, electronically controlled antilock braking system (EBS), traction control, interlock valve with parking brake, and hill hold function.

Interestingly, Scania Philippines is set to deliver 10 units of Marcopolo to its customer, P&O Transport, in order for the company to have additional units to ply the

Manila-Naga route. So we won’t be surprised if more of these Scania Marcopolo buses would eventually service other provincial routes in the country very soon.

Moto

Business

E2 Friday, January 4, 2019

Beepbeep.ph excites 2019

By Ronald de los Reyes

T

HERE is no other way to start the New Year in exciting fashion than when Beepbeep.ph, an online app that connects car owners to appropriate establishments regarding car tuneups and other related services, opts to put up a one-of-a-kind car show this coming January 31 to February 3 at the SMX Convention Center in Pasay City.

Dubbed as Manila Autocon (Manila Automotive Convention), the affair, according to its organizers, is deemed to be the first automotive convention-cum-exhibit in the country.

“We want to gather everyone around in one neutral platform, wherein it will help them in the grassroots level and everyone benefits from it,” said Beepbeep.ph CEO Anton Ojeda.

“This is going to a fun event that would get people excited and can eventually drive the industry. Drive the business,” he added.

10 GM AUTOMO

TO WATCH G M International, which oversees the Chevrolet, Holden and Cadillac brands in the Asia-Pacific region, collaborated with Richard Watson, founder of NowAndNext.com and author of Digital vs. Human, for his Top 10 automotive trends to watch in 2019.

Not your usual 20-minute walk around

“ONCE people are there, we want them to stay and experience the whole event,” Ojeda even further mentioned about the uniqueness of the Manila Autocon.

True enough, the organizers are planning to hold a symposium, wherein it aims to gather many of the local motoring industry’s movers and shakers.

“We have lined up a formidable selection of resource persons to share valuable insights about digitalization, business expansion, new technology, consumer trends and public relations in the automotive realm. It’s all about getting the industry up to speed on best practices and cuttingedge technology that will help shape and assure our future in mobility,” the head honcho shared.

The other part of the affair is a massive car and accessories exhibit.

According to Ojeda, it is not your typical “for your eyes only” car show.

“Booths promoting B2B [business to business] and B2C [Business to

consumers/customers] opportunities, marketing and operations executives, enthusiasts and the general public to learn best practices about, take stock of, discuss and grow our automotive industry and its attached businesses.”

Dave Batista et.al

PERHAPS one that would draw attention would be the guest appearance of renowned FilipinoAmerican wrestler and Guardians of the Galaxy star Dave “Batista” Bautista Jr. For them, it would be one form of automotive celebration, as the international star would also get to share his passion for automobiles.

Other activities mentioned dur-

ing the press conference that would make the event more fun are car auctions, local celebrity entertainment numbers and car raffle draws.

Alongside the car displays and car auctions are after-market selling booths and exhibits on maintenance and mechanical repair, body repair, wheels and tires, and other services and products that will be at the venue.

There will also be a die-cast car display, a “drift box” course and other exciting activities for all ages.

“We believe that everyone in the family will find something interesting at Manila Autocon 2019.”

With this, the organizers are targeting a total of 120,000 attendees for the whole four-day affair.

HYUNDAI CITY STORE OPENS IN CEBU

SUPER Cruise V2X Applications

GM’S Maven Gig

“In 2019, Asia Pacific will still be the growth region, manifested in its overall sense of optimism about the future compared to the general sense of disillusionment in the rest of the world,” Watson said regarding overall market conditions that influence vehicle sales. “AsPac is looking forward, while the rest of the world looks back.”

While not all of the following top trend picks will be evident throughout the region in 2019, one can expect to see them emerge very soon. In fact, Watson’s prognosis for the near future aligns with efforts already under way

by GM Global to transform the automotive industry for the 21st century, including:

H

YUNDAI Asia Resources Inc. (Hari) and Hyundai Cebu Inc. are set to lead digital transformation in the automotive industry with the grand launch of Hyundai City Store Cebu, the first Hyundai City Store in the Asia and Pacific region.

Launched in 2016, the Hyundai City Store concept is a pioneering initiative of Hyundai Motor Co. (HMC) to widen the brand’s reach from traditional dealers to urban locations, providing customers with convenient, innovative and personalized purchase experiences through digital retail stores.

The newly opened 80-squaremeter City Store at SM City Cebu

aims to transform the traditional customer journey through various digital attractions. As customers enter the City Store, they are presented with creative rendition of vehicle information and purchase benefits through the LED-powered Media Wall. They are then accommodated by competent Hyundai sales consultants at the Reception Zone and, brought to the dedicated Customer Lounge and Consulting Zones for inquiries and dealings. They can also personally check out the Car Display Zone and, at the same time, have easy access to swatches and features of other Hyundai vehicles at the Touchable Closet Zone. Hyundai merchandise may also be purchased

at the Accessory Zone.

At the core of these digital zones is the Car Configurator Zone. This easy-to-use dashboard allows customers to view 3D content and realtime information, such as features and functions, price comparison, stocks available and specifications of any Hyundai vehicle of their interest. It can also securely facilitate transactions, including checking of inventories, issuing quotations and processing of payments.

Hyundai City Store Cebu is owned and operated by Hyundai Cebu Inc., one of the brand’s pioneer dealers in the Philippines with six passenger car (PC) dealerships in the Visayas and Mindanao.

n Self-driving cars continue rapid development Expect to see further development of autonomous transportation, including cars, trains, buses, trucks, and perhaps, eventually, planes. GM’s self-driving vehicle unit, Cruise Automation, is in a race to be first to bring fully autonomous vehicles (AVs) to the market. GM is already an acknowledged leader in the development of self-driving vehicle technologies, with Cadillac’s Super Cruise semi-autonomous system already available in China and the US. n Continued growth and investment in electric vehicles and alternative fuels GM’s strong core business and global demand for its pickup trucks and SUVs allows the company to invest heavily in the technology of the future. GM announced in 2017 its plans to launch 20

new all-electric vehicles by 2023. At the same time, GM is working closely with industry partners to develop hydrogen fuel cell EVs in the not-too-distant future. GM’s work on EVs is coordinated with its efforts on autonomous driving systems as part of GM’s vision for a world with zero crashes, zero emissions and zero congestion. n Polarizations between large/ small, expensive/cheap and green/ non-green cars While automakers continue to invest in EVs, they are also responding to popular demand for pickup trucks and SUVs—vehicle segments that will be transformed by GM’s advances in electrification and alternative fuels in the coming years. Case in point, GM recently unveiled a new ZH2 hydrogen fuel cell-powered electric pickup truck, with a next-generation engine and a Chevrolet Silverado chassis. Based on a Chevrolet Colorado ZH2, the concept truck is the most extreme off-roadcapable fuel cell-powered electric vehicle ever from GM, and could lead to the development of a new generation of eco-friendly pickup trucks. n Decline of driving licenses held by younger people, especially in cities Research by Schroders shows the proportion of young people who have a driving license or own a vehicle has fallen in recent years. Meanwhile, the rise of car-sharing services, such as Grab and Lyft, is a contributing factor.

In 2016, GM responded to this market trend by investing in Lyft, working

CHEVROLET Colorado ZH2

with the ride-hailing service start-up to develop an on-demand network of self-driving cars and set up a series of short-term car-rental hubs where GM will become the preferred provider of cars to Lyft drivers. n Growth of ride-sharing, community-owned transport and fractional ownership In line with the decline in driver’s licenses has been the rise of ride sharing.

In Australia earlier this year, Holden celebrated one year of GM’s Maven Gig in operation. Since its launch, Maven Gig has achieved significant growth as more Australians turn to freelancing and the sharing economy to generate income and look for flexible ways to get on the road faster. As the personal mobility solution for members of the freelance economy celebrates its first anniversary, Maven Gig has reached a major milestone with its 1,000th car hitting the road. n Trend toward smaller, lighter vehicles (and growth in advanced nano materials)

oring

sMirror

Friday, January 4, 2019

OTIVE TRENDS

H IN 2019

E3

HINO INAUGURATES CARMONA DEALERSHIP

THE newly-opened Hino dealership in Carmona, Cavite

JUST a portion of the expansive service area for trucks and buses in all sizes Story & photos

by Randy S. Peregrino THE Bolt

technology improves. Could the use of shape-shifting transformable 4D printed materials be far behind?

Watch this space!

Stringent government regulations to meet fuel emission standards and advancements in technologies and materials have made lightweighting (or weight optimization) a major focus of carmakers everywhere. Versions of the current generation Chevrolet Corvette, now available in the Philippines, feature an ultra-light carbonfiber hood and carbon-nano composite underbody panel. GM is using new, advanced software design technology to introduce the next generation of vehicle lightweighting. The technology is key to developing efficient and lighter alternative propulsion and zeroemission vehicles. n Growth of connected cars and integrated city-wide transport solutions Connected cars, enabled by vehicleto-infrastructure (V2I) and vehicle-toeverything (V2X) communications, will likely play an essential role in improving traffic safety and efficiency when widely deployed. GM has been at the forefront of driving V2X deployment in China. In 2016 GM became

one of the first vehicle manufacturers to demonstrate the interoperability of V2X applications in the country. In 2017 GM successfully demonstrated its V2I capability on public roads in Shanghai. More recently, GM participated in the first-ever multi-industry demonstration of C-V2X (cellular connected car communications). n 3D printing of car components and perhaps whole cars (extending to 4D materials) It is no secret that automakers like GM helped pioneer the use of 3D printers to fabricate prototypes for vehicle development. Earlier this year, GM said it is working with design software company Autodesk Inc. to manufacture new lightweight 3D-printed parts that could help the automaker meet its goals to add alternative-fuel vehicles to its product lineup. Within a year or so, GM expects these new 3D-printed parts to appear in high-end, motorsports applications. Within five years, GM hopes to produce thousands or tens of thousands of parts at scale as the

n Death of the manual gearbox While some automakers, GM included, still offer manual transmissions on a handful of models, advances in the fuel efficiency and performance of automatic transmissions have all but eliminated demand for stick-shift cars.

On the other hand, the rise of paddle shifters allows drivers to manually shift an automatic transmission with steering wheel- or steering columnmounted levers, but some experts say it’s a passing fad. In a 2017 report, GM said that 62 percent of drivers used their paddle shifters less than two times per year. n Impacts of aging populace on car design and use While the median age of people in Southeast Asia is under 30, other countries around the world have a much older populace; the median age in Japan is nearly 50. In the past, old age meant limited mobility and the need for vehicle designs to accommodate people who have less flexibility. These days, the older generation is generally more active, and their vehicle of choice is increasingly super-popular midsize crossovers that offer easy entry and exit. In addition, advanced technologies, such as the active safety technologies that proliferate on GM vehicles, will help drivers of every age avoid accidents. GM’s introduction of autonomous driving systems and ride-hailing services will further aid older customers.

H

INO Motors Philippines (HMP), the exclusive distributor of Hino trucks and buses in the country, continues to uphold its commitment to customer total support by recently opening its newest dealership in Southern Luzon. Managed by Lovi Motors Corp. (LMC), the latest Hino dealership is located along Governor’s Drive in Carmona, Cavite. This new facility will further strengthen the truck manufacturer’s presence in the Calabarzon region to offer the brand’s complete roster of passenger and commercial vehicles.

Attending the inauguration ceremony were key executives from the two companies, namely, HMP Chairman Vicente T. Mills Jr., HMP President Hiroshi Aoki and LMC Chairman Rodora Lomeda. Also present were Carmona Councilor Vicky Reyes, HMP Vice President for General Sales and Business Planning Susumu Myokan, LMC Board Director Gerry Magpantay, LMC President Michael Lomeda, LMC Corporate Secretary Marionito Lomeda and stockholder Martin Lomeda.

Hino’s newest dealership aims to serve various industries within the area, including logistics, manufacturing and construction, among others. “We hope that with this latest addition to the Hino network of dealers, we will be able to serve more businesses and establishments outside of Metro Manila. This is a testament to our continued commitment and our growing capability to deliver on our Total Support vision, one that pushes us to reach out to more Filipinos across the country through innovative transport solutions,” said Aoki.

Situated on a capacious proper-

HMP Vice President for General Sales and Business Planning Susumu Myokan (from left), HMP Chairman Vicente T. Mills Jr., HMP President Hiroshi Aoki, LMC Chairman Rodora Lomeda, LMC President Michael Lomeda, LMC Corporate Secretary Marionito Lomeda, and stockholder Martin Lomeda during the ribbon-cutting ceremony

ty, the new facility offers generous parking areas up front, plus a wide driveway and drop-off point in the middle. Similar to other modern Hino dealership design, the building layout boasts a captivating façade with an all-glass front panels attracting more natural daylight, which provides a clear visibility of trucks on display from the outside. Of the two separates showrooms, the smaller section within the reception area is intended for light trucks. As for the bigger display area, it is located within the greater section of the facility to accommodate medium and heavyduty trucks. Boasting a high-ceiling layout, it is spacious enough to lodge up to three heavy-duty trucks for display. Aside from the conducive and presentable receiving area, there are also more office quarters at the back.

Moreover, the new facility is fully set up for sales, spare parts and ser-

vice operations, in line with HMP’s drive to provide innovative transport solutions. Situated along Carmona’s main highway, the new dealership sits within the proximity of the province’s most industrialized and fastest-growing areas. This new facility would also cater to the increasing number of industrial complexes, over a hundred factories, and about a thousand commercial/business establishments in Carmona.

“The new Hino Carmona will support the growing economy of Cavite and the rest of Calabarzon and the entire country,” said Mills. “We are looking forward to continue growing our dealership here in Calabarzon and will work with the businesses in order to meet their diverse transport needs. We will keep extending our reach in the country this 2019, in line with our Total Support mantra,” he added.

Motoring BusinessMirror

E4 Friday, January 4, 2019

Iconic Bulacan airport to break ground this year? connected all 50-plus states of the world’s most powerful country. It is the biggest engineering sensation since man discovered fire.

With his freeway idea put to reality, Henry Ford said he could begin mass production of his array of Ford vehicles. The rest, as they say, is history.

W

HY do I also love to write about airports, seaports, river docks, bridges and, yes, roads/expressways aside from cars and other motor-powered carriers like ships and airplanes—not to exclude calesas and other animaldriven vehicles—that transport not only people but goods, as well?

Infra writing, I call it.

Infra as in infrastructure.

Roads, bridges, seaports, airports, railways and all construction-related endeavors, including buildings and edifices owned by the government—they all belong to infrastructure.

Without infra, there is no mo-

toring to talk about.

Motoring is all about infra.

Innovation pioneer Henry Ford started it all when, in 1925 or thereabouts, he embarked on an ambitious mission to build what is now known as the American freeway.

With the invention of the freeway, America’s road system has

Bulacan Intl Airport

THE hottest infra topic today is the planned groundbreaking this year’s first quarter of the Bulacan International Airport.

Envisioned for construction in Bulakan, Bulacan, which is 50 kilometer (km) North of Manila, the state-of-the-art “aerotropolis” costing hundreds of billions of pesos will be erected by San Miguel Corp.

(SMC).

“While we’re still going through a long process, hopefully, in 2019, we can hit the ground running on actual construction,” SMC President Ramon S. Ang (RSA) said in a statement just days before 2018 became history.

The aerotropolis will be named the New Manila International Airport (Nmia), whose six runways will massively dwarf the lone runway of the old, outmoded Ninoy Aquino International Airport (Naia) in Pasay City.

Since the last 10 years or so, the Naia has been hounded by

congestion issues.

100M passengers; seafood capital

ONCE fully operational—the projected completion is within five years—the Nmia will rival some of the world’s biggest airports in passenger accommodation as it can handle as many as 100 million travelers a year. The Naia can only accommodate a few million a year at the most.

The aerotropolis will sit on 2,500 hectares along the Bulacan coastline, with the project to include a residential zone, a government center, a seaport and an industrial zone.

Ang said the new airport will also make Bulacan the “seafood capital” of the Philippines as “project aerotropolis” would include dredging the coastline and a coastal cleanup covering 12,000 hectares.

Fishing in Bulacan has slowly been dying the last few decades because of pollution from households and industries,” Ang said. “Our goal is to clean up the coast and make Bulacan a seafood capital.

After all, the airport is there to help support the local fishing industry.”

He said he will work with local government to caution factories against dumping toxic waste into the Manila Bay waters.

“Maybe in the future, we can reach a point where seafood from

Bulacan is exported to other countries, and tourists come in droves to sample them,” Ang said, adding he’d help augment Coast Guard efforts to patrol and implement laws against using the Bulacan waters as garbage disposal.

SMC has earmarked a whopping budget of P754 billion for the new airport, with a proposed concession period of 50 years.

Smooth travel from Metro Manila to the new gateway is guaranteed via both the Slex and Nlex since an 8.4-km airport connector toll road is to be built—not to mention a planned additional 100km expressway to make travel for airport-bound passengers a virtual breeze.

“That’s just the beginning,” said Ang, who has South Korea’s Incheon International Airport as a business partner in his latest venture. “This is a massive project and over the next five years, we estimate that we will generate millions of direct and indirect jobs to build and operate Nmia.”

We are really way too far behind when it comes to infra endeavors, our airports being among the most backward in the world.

Nice to know that there are still people like RSA willing to take the risk in the name of the country’s progress, for the sake of the common good, for tomorrow’s generations.

Are we seeing in RSA the reincarnation of Henry “Mr. Innovator” Ford?

PEE STOP Several movements were

recorded in the dying moments of 2018. Jose Maria M. Atienza, who prefers to be called simply as “Jing,” is now the senior vice president of Lexus Philippines. Carlo S. Ablaza is now the outfit’s assistant vice president. And look at this: Kei Mizuguchi, whose last known posting was being executive vice president of Toyota Motor Philippines, is now Lexus Philippines’s EVP. And Raymond T. Rodriguez?

Well, he remains as Lexus president…My buddy, Dave “Big Mac” Macasadia, has vacated his post as SsangYong president officially on December 31 to finally devote full-time his life with his family. He’ll be missed by Germain Alilio. All the best, Big Mac Procol Harum!...Is it true that BMW top gun Spencer Yu said in his Christmas party speech to my fellow motoring journalists, “2018 is a year to forget.” Well, if true, he was just being honest. Vehicle sales nosedived sharply in the year just ended, right?...Danny and Joy Isla are in town, leaving their new base in Auckland, New Zealand, to spend the usual revelries of the infant year with their relatives and friends alike. Happy New Year!

PORSCHE SET FOR FURTHER GROWTH IN 2019

T

HE Porsche Experience Center Sepang enjoyed its most successful year ever in 2018 with an unprecedented number of track days, as well as a record number of participants coming through its doors. From 41 track days, PEC Sepang welcomed 668 participants and more than 800 visitors, making the facility the main hub for the Porsche Experience in Southeast Asia.

The Porsche World Roadshow (PWRS) kicked off the year, followed by the regional media launch of the Cayenne. Various Track Experiences took place thereafter, including the Media Driving Academy where Porsche invested in sharpening the driving skills of

journalists. However, the highlight events for the PEC Sepang were the Cayman GT4 Clubsport MR and the 911 GT3 Cup Car trainings, which were born from a desire to further develop motorsport in the region, in response to the strong demand from enthusiasts. The 911 GT3 Cup Car training in particular was held for the first time in Southeast Asia.

The year wrapped up with the inaugural “E-Performance Nights” media event that took advantage of the night lights of the Sepang International Circuit. With this event, the PEC Sepang made history as the first Porsche Experience location operating for nearly 24 hours in a day. At this highly

unique event, the PEC Sepang also collaborated with Samsung Electronics for the very first time, showcasing the state-of-the-art Samsung LED for Home (IF1.2) display, Flip, 65” UHD Smart Signage and a 49” Curved Monitor to both media and customers for a better viewing and video analysis experience.

For all of these events, the most impressive PEC Sepang car pool ever was employed, which included cars as varied and exciting as the 911 Carrera T, 911 GT3, 718 Boxster GTS, Cayenne Turbo, Panamera Turbo S EHybrid and 918 Spyder.

The PEC Sepang is set to offer more premium events in 2019, including the “Track Experience” and the “Porsche Motorsport GT Day” that offer money-can’t-buy experiences with rarefied sports cars like the 911 GT3 Cup and the 911 GT3 RS. Supporting this, it will boast a brand new fleet of Porsche vehicles that will include legends such as the 911 GT3 RS and the new 911, introduced just recently in its World Premiere at the Los Angeles Auto Show.

One significant role that the PEC Sepang will play is being an E-Performance competence center, focusing on the increasing electrification of the Porsche model range. Besides plug-in hy-

brid Porsche vehicles which are already available in the market, such as the Panamera Turbo S E-Hybrid, the fully-electric Taycan will make its debut in the region in the beginning of 2020.

KTM bike owners were able to feel the full power and performance of the bikes during the “KTM Track Day” held at Batangas Racing Circuit.

RIDERS GET TO RACE K TM Philippines recently treated motorcycle riders of varying stripes— novice, advanced and experienced— to “KTM Track Day” that allowed them to experience the ready-to-race DNA of the iconic Austrian bikes.

Held recently at the Batangas Racing Circuit in Rosario, Batangas, a whole line of KTM demo bikes were made available

to participants for a test ride, including the 390 Duke, the 690 Duke, the 790 Duke and the 1290 Super Duke GT. Participants were able to feel the full power and performance of the bikes in a safe and controlled environment. Aside from the test rides, Joey Rivero, a former Philippine Superbike Championship factor racer, shared his biking knowhow and riding skills, to the participants.

Rivero conducts precision riding training classes for every type of motorcycle rider— on the track, on tour or on the street.

KTM Asia Motorcycle Manufacturing Inc. (Kammi), the proud local manufacturer of KTM motorcycles in the country, is a joint-venture partnership between Adventure Cycle Philippines and KTM AG of Austria.