BusinessMirror January 13, 2020

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Monday, January 13, 2020 Vol. 15 No. 95

DOF: Economy ‘ready to soar’ after strong Q3 6.2% T

By Bernadette D. Nicolas

Dominguez, who chairs the Economic Development Cluster (EDC), said the economy is “ready to

soar” after the strong third-quarter GDP growth.

In a statement released by the

Department of Finance on Sunday, Dominguez expressed confidence in the country’s economic perfor-

‘MOVE TO EASE IMPACT OF MIDEAST CRISIS NOW’

By Jovee Marie N. dela Cruz @joveemarie

A

mance for the last quarter of the year as the government’s main infrastructure agencies deliver on their spending commitments for the remaining October-December 2019 period under this catch-up spending strategy.

LTHOUGH a full-scale war between the United States and Iran remains unlikely at the moment, the chairman of the House Committee on Ways and Means has suggested that the government carry out measures to control the impact of the ongoing tension between the two countries.

Albay Rep. Joey Salceda, in a January 7 letter to President Duterte and to the leadership of the House of Representatives, said the current Middle East situation’s impact on inflation and the economy can be overcome as long as food supply is kept adequate and prices are closely monitored to prevent opportunistic behavior.

According to Salceda, the Committee on Ways and Means will continue to monitor oil prices, but currently sees no need to suspend fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) law amid the conflict in the Middle East that sparked fears of volatile global oil markets.

“Slowdown in the economy due to rising oil prices will likely be overwhelmed by increased government spending due to the timely passage of the 2020 budget and the extension of the 2019 budget, and by increased investment due to key economic reforms,” Salceda added.

Right after the January 3 US air strike near Baghdad Airport that killed a top Iranian general, global oil prices soared, and Iran’s retaliatory attacks —raining a dozen missiles on two Iraqi sites hosting American forces— prompted fears that the oil market is not about to quiet down, yet.

See “DOF,” A2

See “Mideast crisis,” A2

@BNicolasBM

HE country’s economic growth rate for the fourth quarter of 2019 will “fare better” than the 6.2-percent GDP growth rate it posted in the third quarter, according to Finance Secretary Carlos G. Dominguez III.

P25.00 nationwide | 5 sections 30 pages |

The GDP growth rate in the third quarter, as it recovered from an anemic first-semester performance, with some boost from the catch-up spending plan

Graduated corporate income tax pushed

Shift to alternative fuels eyed as external trade shrinks 5.3% in Nov

By Cai U. Ordinario

A

@caiordinario

LTERNATIVE fuels will help boost the country’s external trade performance, according to the National Economic and Development Authority (Neda).

On Friday, the Philippine Statistics Authority (PSA) said the country’s total external trade in goods contracted 5.3 percent to $14.54 billion in November 2019, from $15.35 billion in November 2018.

Data showed that exports and imports of goods continued to fall and posted a contraction of 0.7 percent and 8 percent, respectively, in the same month.

“The heightened conflict between the US and Iran, and its impact on oil prices could result in increased cost of production

PESO exchange rates n

for domestic-oriented, as well as export-oriented firms,” Socioeconomic Planning Secretary Ernesto M. Pernia said.

Neda said exports declined due to lower shipments of agro-based products, petroleum products and the flat growth in manufactures.

The agency also said imports decreased because of lower shipments for unprocessed and semiprocessed raw materials, including manufactured goods.

Pernia said the Philippines still imports most of its petroleum supply from the Middle East, particularly Saudi Arabia, United Arab Emirates and Kuwait.

This is despite indications that the country’s trade exposure to the leading trading partners in the Middle East is small relative to the country’s total trade.

See “External trade,” A12

I

ANGRY Taal Volcano spews out smoke and ash on Sunday, as seen in screenshot from video shared with BusinessMirror by Mar Cesario. Authorities raised Alert Level 4 on Sunday evening after a “phreatic eruption” by the volcano. Flights were canceled after ashfall was detected in a huge part of southern Luzon and parts of Metro Manila. See story on page A2.

NSTEAD of applying a flat corporate income tax (CIT) rate, the government should implement a fiscal system that makes a distinction between small and large firms similar to what Southeast Asian economies are doing, exporters said last Friday.

Philippine Exporters Confederation Inc. (Philexport) Trustee for the Chemicals Sector Oscar A. Barrera said if the government chooses to do away with the flat rate policy, the Philippines will be the seventh in the region to implement a graduated CIT schedule.

Under the existing setup, firms here pay a standard 30 percent CIT, be they small or large.

See “Corporate income tax,” A2

US 50.6030 n japan 0.4621 n UK 66.1280 n HK 6.5151 n CHINA 7.2995 n singapore 37.4476 n australia 34.6985 n EU 56.2048 n SAUDI ARABIA 13.4906

Source: BSP (10 January 2020)

News

BusinessMirror

A2 Monday, January 13, 2020

Alert Level 4 raised on Taal Volcano’s phreatic eruption

By Jonathan L. Mayuga

J

@jonlmayuga

UST more than an hour after spewing light ash, Taal Volcano, the world’s smallest volcano, erupted, spewing dark volcanic ash on Sunday afternoon and prompting the raising of Alert Level 4.

What authorities called a phreatic eruption came after the Philippine Institute of Volcanology and Seismology (Phivolcs) reported observing volcanic ash being spewed by the volcano.

The eruption was caught live on social media by netizens. Some netizens said small volcanic ash and debris spewed by the volcano reached nearby towns in Batangas, as well as in nearby Cavite province.

In Silang, small pebbles and volcanic mud fell like rain, a netizen reported in the Go Batangas FB group which posted live video of the spectacle.

The latest event around 2 pm prompted Phivolcs to raise the Alert Level from 1 to 4, although the local government units in Batangas had earlier been placed on alert—preparing the forced evacuation of those living near the volcanic island, also a popular tourist destination in Batangas.

Surrounded by vast lake waters,

Taal Volcano is at the heart of the Taal Volcano Protected Landscape, a protected area. The entire lake and the island where the volcano sits may be viewed from Tagaytay City in Cavite, another tourist spot in the Calabarzon area.

Science Undersecretary Renato Solidum, concurrent director of Phivolcs, said this was a result of hydrothermal activities of one of the country’s most active volcanoes.

The phreatic eruption was recorded at around 11 a.m., with ashes being spewed up to 30 meters high. A stronger phreatic eruption occurred at 2 p.m., spewing an ash column up to at least 100 meters high.

In its official Twitter account, Phivolcs Bulletin No. 2 reported the “increased steaming activity” in at least five spots inside the main crater.

Since March 2019, the volcano has been showing signs of moderate to high-level seismic activity. The

activity resulted in intensity 1 to intensity 3 ground movements in towns around Taal lake.

Ashfall suspends flights

All flights to and from the Ninoy Aquino International Airport were put on hold due to the ashfall, which reportedly reached parts of Metro Manila.

“Flight operations at the Ninoy Aquino International A ir port have been temporarily suspended due to the volcanic ash from the eruption of Taal Volcano. Kindly coordinate with your respective air carriers for details on flight schedules,” the Manila International Airport Authority (MIAA) said on its official Facebook page at around 6 p.m.

The Civil Aviation Authority of the Philippines (CAAP) said in a notice to airmen (Notam): “All arrival flight from Naia are suspended due to volcanic ash in the vicinity of the airport from January 12, 2020, at 7 p.m. until January 12, 2020, at 11 p.m. estimate.”

Following this announcement, Philippine Airlines (PAL) advised passengers of the disruption.

These arriving PAL flights were diverted to Clark: ■ PR 721 London-Manila ■ PR 421 Haneda-Manila

■ PR 331 Xiamen-Manila All flights originally scheduled to depart from Manila between 7 p.m. and 11 p.m. were canceled.

Duterte’s order

President Duterte on Sunday mobilized government forces to ensure the safety of residents in the vicinity of Taal Volcano after it showed increased volcanic activity.

Presidential Spokesman Salvador S. Panelo said in a statement government agencies are now “working closely with the Provincial Government of Batangas to ensure the safety of the residents, including their evacuation.”

Malacañang started monitoring the situation in Taal Volcano after Phivolcs raised the Alert Level for Taal Volcano to 4, meaning there is magmatic unrest in the volcano.

The volcano’s phreatic explosion sent volcanic ashes raining on surrounding areas including Tagaytay City, Laguna, Cavite and Muntinlupa City.

Those who lived close to volcano also reported multiple tremors.

Phivolcs recommended the evacuation of residents in “high-risk” barangays “due to the possible hazards of pyroclastic density currents and volcanic tsunami.” With Samuel P. Medenilla and Recto L. Mercene

Murang Kuryente law’s IRR delay irks Gatchalian

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HY, months after passage of a law mandating cheaper electricity, do the full benefits remain out of reach to the public?

The chairman of the Senate energy committee, raised this question at the weekend as he prodded Duterte administration officials to ensure the speedy issuance of the implementing rules and regulations (IRR) of the recently enacted Murang Kuryente Act.

Mideast crisis. . .

Continued from A1

Some quarters in the Philippines then called on the government to let the TRAIN law provision allowing suspension of the law’s higher excise tax on fuel, even without waiting for the requisite condition: three consecutive months of an average $80 a barrel pricing for crude.

We’ll keep tracking—Salceda

Salceda said the lower chamber will continue to observe developments in the oil price and is studying its options should oil prices become unbearable to the Filipino people.

The House leader also said the passage of key economic reforms such as the Corporate Income Tax and Incentives Rationalization Act (Citira) and the rest of the Comprehensive Tax Reform Program (CTRP) will overwhelm the adverse impacts of rising oil prices on the economy.

“Citira and the rest of tax and economic reform bills are doubly crucial in insulating the economy from the impacts of the Middle East tensions,” he said.

In his assessment, a “significant slowdown in the economy due to higher oil prices remains unlikely, unless oil prices hit $100 per barrel.”

Energy sources

According to Salceda, the country’s economic prospec ts will remain affected by overseas conflicts for as long as the Philippines remains fueled by foreign oil.

“This dependence on other c o u n t r y ’s o i l output diminishes t h e c o u n t r y ’s efforts towards an independent foreign policy,” he said.

In the long term, Salceda said the

Sen. Sherwin Gatchalian recalled pushing early passage of an enabling law lowering consumers electric bill after comparing the cost of electricity in the Philippines and its neighbors. “When we were pushing this law, I checked our electricity rates with those of others in Southeast Asia and realized we had the highest charges,”the senator said in a mix of English and Filipino.

Gatchalian explained that the remedial legislation, once fully implemented with

the issuance of the IRR, will remove some of the charges tucked into the consumers’ electric bills, including the so-called Universal Charges, Stranded Costs and Stranded Debt, costing nine centavos that, he said, is soon to increase to P1.00 per kilowatt hour.

He expressed dismay that the law’s mandate to have an IRR by November 27, “which would have removed the universal charges from our electric bill,” was not followed.

government’s push toward robust economic and political self-determination will depend in large part on whether Filipinos can create a critical mass of indigenous sources of energy.

“We can begin with the sustainable and efficient use of its existing renewable-energy sources. However, in the longer term, the nation must seriously consider the nuclear option, and the exploration of new energy sources, especially in the West Philippine Sea under a modus vivendi with China, will be vital to the country’s economic ambitions,” he said.

Remittances

Meanwhile, Salceda said remittances among the conflict’s core countries (Iran and Iraq) has little impact on the Philippine economy as they only account for 0.002 percent of remittances from abroad.

“The real threat to the Philippine economy comes from the possibility of other Persian Gulf states [Oman, Qatar, Bahrain, UAE, and Kuwait] becoming directly involved in a military conflict,” he said.

Citing the Bangko Sentral ng Pilipinas (BSP), he said remittances from both countries in 2018 were only at $0.45 million, representing only 0.007 percent of total remittances from the Middle East in 2018, and only 0.002 percent of total remittances from abroad.

“Therefore, unless a state of elevated regional war emerges in the Middle East, the country’s economy should be able to absorb whatever loss in remittances could result from the total repatriation of Filipinos in both Iran and Iraq,” he said.

Salceda said what should be of greater concern is a full-scale regional war where regional actors intervene.

“Among Middle East countries, economies likely to be embroiled in such a conflict are those of Qatar, the United Arab Emirates, Oman, Bahrain, and Kuwait. Given its pivotal role in previous conflicts between the United States and some Middle Eastern states, as well as its strategic location between Iraq and Iran, Kuwait is the country most likely to be affected by rising regional tensions,” he said.

However, he said the House must be prepared to accommodate a request for a standby fund for repatriating overseas Filipino workers.

‘Sin’ tax. . .

Asked about plans to tap the Malampaya fund to pay back debts arising from the socalled universal charges and stranded costs, Gatchalian recalled that before Congress went on recess last December 20, he got in touch with the Department of Finance and Department of Energy to ask them to come up with the IRR. “I wrote them and reminded them to finish the IRR so we can bring down electricity charges; so this coming week we will continue nudging them.” Butch Fernandez

Continued from A12

Before Congress adjourned in December, both chambers ratified the bicameral conference committee report on the reconciled bill on December 18.

Under the ratified measure, a 22-percent ad valorem tax will be imposed on top of the specific tax of P42 per proof liter for distilled spirits in 2020, while it is P47, P52, P59, P66 per proof liter from 2021 to 2024.

A 6-percent increase will then be implemented annually beyond 2024.

Specific tax for fermented products will be P35 per liter for 2020, while a P2 increase will be implemented annually until 2024, and a 6-percent indexation in the succeeding years.

Sparkling and still wines will have a specific tax of P50 per liter during the law’s first year of implementation, while the rate will be increased by 6 percent annually in the following years.

For heated tobacco products, the

reconciled specific tax for the first year is P25 per pack and this will be increased by P2.50 per pack in the succeeding years until 2024, while the increase starting 2024 will be 5 percent.

Vapor products will have a P37 tax per milliliter of salt nicotine in the first year and a P5 increase until 2023, and an indexation of 5 percent in the succeeding years.

Specific tax for freebase vapes will be P45 per 10 milliliters in 2020, while a P5 increase will be implemented annually until 2023, and a 5-percent indexation will be imposed thereafter.

Collections from ‘sin’ taxes will be used to primarily fund the Universal Health Care program, which is estimated to need P257 billion for its first year of implementation in 2020.

The five-year funding requirement for the program is projected to be about P1.437 trillion.

Corporate income tax. . .

Continued from A1

Citing data from international auditors Deloitte, Ernst & Young and PricewaterhouseCoopers, Barrera said the graduated system of corporate taxation is implemented in Brunei Darussalam, Indonesia, Lao PDR, Malaysia, Singapore and Thailand.

Under such setup, as proposed in a bill filed by Sen. Ralph G. Recto as Senate Bill (SB) 595, firms will pay different tax rates depending on their taxable income. SB 595 proposes to trim the CIT rate to a range of 5 percent to 25 percent, from 30 percent at present.

This reform, Barrera argued, can boost the operations of micro, small and medium

enterprises (MSMEs), as it gives them breathing space in terms of cash flow, refueling their capital and encouraging them to expand.

“This scheme should also assist entrepreneurial Filipinos and make them more cost- and market-competitive locally and internationally. At the moment, the tax regime in the country has put Philippine companies in an uneven playing field with counterparts, especially in Asean,” the Philexport executive said in a statement.

According to Philexport’s research, Brunei Darussalam slaps 4.625-percent, 9.25-percent and 18.5-percent CIT on firms based on chargeable income.Elijah Felice E. Rosales

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NBI autopsy report on Villavende spurs more anger vs Kuwait

By Samuel P. Medenilla

T

@sam_medenilla

HE country’s largest labor group on Sunday said it will back calls for stronger deployment restrictions against the Kuwaiti government after it allegedly whitewashed its autopsy report on household service worker (HSW) Jeanelyn Villavende.

In a statement, Trade Union Congress of the Philippines (TUCP) President Raymond Mendoza condemned the report, tagging it “fake” for failing to indicate that there were physical signs that Villavende may have been sexually abused before being killed.

“This is completely a willful dishonest attempt of the Kuwaiti government to cover up the heinous crime committed by the Kuwaiti nationals, [who are] principal suspects, and whitewash the gruesome act of inhumanity,” Mendoza said.

“The Filipino people and the overseas Filipino workers, in particular, [demand that] the Philippine government...make a strong response and condemn this unacceptable act of bad faith on the part of the Kuwaiti government,” he added.

Mendoza, who also represents TUCP Party-list in Congress, said he will file a resolution seeking to investigate “the circumstances that led to Jeanelyn’s death, and how these can help improve the current policy of the government.”

Last Tuesday, the Department of Labor and Employment (DOLE) revealed the copy of the autopsy

DOF. . .

Continued from A1

The top finance official said the rosy outlook is supported by the massive rollout of the administration’s “Build, Build, Build” infrastructure modernization program, as well as the bold policy and administrative reforms being implemented under President Duterte’s watch.

Through the catch-up expenditure plan to accelerate human capital development projects, the DOF said the Duterte administration overcame one of 2019’s biggest challenges —an economy hobbled by a combination of the delayed congressional approval of the year’s national budget and global trade tensions.

After an anemic first-semester performance, the catch-up spending plan, crafted by the EDC of the Cabinet, enabled the economy to recover in the third quarter, with a 6.2-percent growth rate.

The below-target economic expansion for the first half of the year was the result of the government not being able to invest about P1 billion a day owing to the delayed approval of the P3.7-trillion 2019 national budget, which was exacerbated by the 2019 election ban. The effects of the budget delay lingered until the second quarter, when growth was recorded at a slightly lower 5.5 percent.

Congressional action on the 2019 General Appropriations Bill (GAB) stretched to March 2019, with the President being able to sign the budget law only in April.

The delay in the passage of the 2019 GAB forced the government to operate on a reenacted budget for four-and-a-half months, which meant it held off in those months the implementation of all new and some ongoing projects under Duterte’s accelerated spending agenda.

Under the catch-up spending plan, the government’s goal is to spend P2.996 trillion starting the second quarter of 2019, of which P1 trillion is for infrastructure, to reach its programmed spending of P3.774 trillion for the entire year or about 19.6 percent of GDP. When the EDC met on November 28 for updates on the catch-up spending plan, it reported that as of end-October 2019, almost 100 percent of the Fiscal Year 2019 budget allotment program of P3.66 trillion had been released to all implementing agencies of the national government, including

report conducted at Sabah Hospital in Kuwait on the remains of Villavende, which only showed the possible cause of death of the Filipina HSW. On Friday, Labor Secretary Silvestre H. Bello III threatened to impose a total deployment ban in Kuwait after he was informed about the separate autopsy result of the National Bureau of Investigation (NBI) on the body of Villavende, which showed she may have been also sexually violated.

The Philippine Overseas Employment Administration (POEA) issued a partial deployment ban to Kuwait, which covers newly hired HSWs, as part of the government efforts to pressure the Kuwaiti government to immediately hold accountable those responsible for killing Villavende.

In an SMS, POEA Administrator Bernard P. Olalia told the BusinessMirror the POEA Governing Board is still waiting for a formal recommendation from Bello before it decides on his proposal to impose a total deployment ban for Kuwait.

In a television interview last week, President Duterte said he is pleased with the action of the Kuwaiti government on the Villavende case and he is not keen on imposing deployment restrictions to Kuwait.

A labor official, who did not want to be identified due to lack of authority to speak on the matter, told the BusinessMirror in a phone interview, Duterte had yet to be informed about the NBI autopsy report when he made the said comment. infrastructure, education, health and defense.

The EDC expected then for such disbursements to further accelerate in the remaining two months of 2019 to support a higher GDP growth rate for the full year.

Total actual disbursements from January to October this year amounted to P2.938 trillion, representing 78 percent of the 2019 full-year disbursement program of P3.77 trillion. This is 5.1 percent higher than the actual disbursements for the same period in 2018, Dominguez said at the November 28 meeting.

In the first 10 months of the year, for infrastructure and other capital outlays, the total actual disbursements reached P628.5 billion. This is 73 percent of the 2019 full-year disbursement program of P859.5 billion but 5.5 percent lower than the actual disbursements for the same period in 2018.

Dominguez said that based on the updates from the main infrastructure agencies—the Departments of Public Works and Highways, and of Transportation—the EDC is confident the government can hit its spending target for this year.

At the last Development Budget Coordination Committee (DBCC) meeting held for 2019, the economic managers also announced that disbursements are targeted to hit P3.76 trillion in 2019, which is equivalent to 20 percent of GDP. From an initial 75 flagship projects, the government has also expanded its list of BBB projects to include additional strategic projects with national impact and those undertaken through public-private partnerships (PPPs).

Dominguez said that PPP projects under “Build, Build, Build” are welcome, provided these can avoid unwarranted delays and spare taxpayers the heavy burden of contingent liabilities supposed to be shouldered by the government, as had happened in past PPP ventures.

With the two conditions in place, Dominguez said the government is able to ensure that these PPP ventures turn out to be “Public-Private Partnerships for the People [PPPP].”

“We have taken the attitude that PPP is insufficient, it should not only be public-private partnership. It should be PPPP—public-private partnership for the People—that infrastructure projects must be delivered quickly for the benefit of all law abiding Filipino citizens. We cannot take too much time negotiating with the private sector on this,” he said.

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The Nation

briefs DND LAUDS ACTION VS. PHOTO MANIPULATION THE Department of National Defense (DND) commended Army chief Lt. Gen. Gilbert Gapay for swiftly imposing disciplinary action against a junior officer “responsible for the manipulated photo on former rebels.”“This sends a strong signal to all commanders to stick to the time-honored principle of truthfulness and honesty in reporting, and that violations of the same have dire consequences,” Defense Secretary Delfin N. Lorenzana said in a statement. The Army leadership earlier relieved Lt. Col. Napoleon Pabon of his post as commander of the 2nd Infantry Battalion. A 2IB unit manipulated photos of rebel surrenderees for its report that was released to the media. Rene Acosta

MAKATI PADLOCKS KTV BAR

MAKATI City shut down a KTV bar inside the penthouse of Makati Palace Hotel for operating an alleged prostitution den following the arrest of two Taiwanese on Friday.

Aside from the owners, 14 Chinese customers, who were all employees of a Philippine Offshore Gaming Operator firm, were nabbed by the authorities. Thirteen Filipinas were rescued and brought to the city’s social welfare office. Claudeth Mocon-Ciriaco

PINAYS NABBED AT AIRPORT

AIRPORT immigration agents nabbed last Friday three Filipino women who were illegally recruited to work as bar girls in Hong Kong. Authorities said the trio admitted they were going to work in Hong Kong, and were promised salaries of HK$500 a day. It was learned that the women were recruited by a female agent whom they only met via Facebook. They admitted they each spent P15,000 for their plane tickets, but the cost of processing their travel documents was shouldered by their recruiter whom they will pay through salary deduction. Recto Mercene

COMELEC TO BRING BACK DEBATE SERIES

AFTER its absence in the 2019 midterm polls, the Commission on Elections’ (Comelec) debate series for candidates may be set for a comeback in the next elections, Comelec Spokesman James B. Jimenez said in an interview. “This early, we are already talking about it,” Jimenez said. “We see that debates carry a lot of weight when it comes to enlivening the elections for voters, especially when it is already near.” He added the initial plan is to cover presidential and vice presidential candidates, like what the Comelec did in their 2016 debates. Samuel P. Medenilla

BusinessMirror

Editor: Vittorio V. Vitug • Monday, January 13, 2020 A3

Lawmakers prioritize more modern health-care system

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By Jovee Marie N. Dela Cruz

@joveemarie

HE leadership of the House of Representatives has included the modernization of the country’s health-care system in its priorities.

Speaker Alan Peter Cayetano said the unnumbered substitute measure establishing the Philippine Electronic Health (eHealth) System will make delivery of Philippine health-care services faster, more accessible and convenient to all Filipinos.

“Decades of neglect, brain drain and lack of investments in health infrastructure has caused the decline of healthcare in the country,” Cayetano said. “Government’s investment in eHealth facilities, and services, can boost the delivery of medical and health programs to the poor, and ensure the success of the Universal Health Care law.”

T he Hou se Com m it tee on Health has already endorsed the bill for plenary approval.

The measure aims to institutionalize a system of providing wide access to quality health information, and services, using information and communications technology (ICT), referred to as the National eHealth System (NeHS), which is expected to provide better health outcomes to every Filipino.

The bill provides that the NeHS shall set policies, programs, and projects that promote and ensure streamlined and safely regulated delivery of eHealth services to reduce inequalities, achieve universal

health care and better health outcomes. The NeHS shall also enable Filipinos to have better management and control of their health through suitable access to their own health information.

It also stipulates the establishment of the eHealth Policy and Coordination Council (eHPCC) that will provide, and promote relevant policies and guidelines for the effective coordination, and implementation, of the bill.

The proposed bill mandates the health secretary as the eHPCC’s chairman, while the secretary of Department of Information and Communications Technology, and the president and chief executive officer of PhilHealth shall be cochairmen.

The DOH shall strengthen and transform its Knowledge Management and Information Technology Service into a full-fledged bureau, to be named as the National eHealth Information and Services Bureau, which shall perform the overall management and administration of the measure.

2 wounded after grenade explosion

A

WOMAN and her 11-yearold son were wounded on Sunday after a hand grenade exploded inside a military quarters at Camp Aguinaldo that is occupied by Staff Sergeant Larry de Guzman and his family.

Through a statement, Military Spokesman Brig. Gen. Edgard Arevalo identified the wounded as de Guzman’s 34-year-old wife Erliza and his son, who were both taken to the V. Luna Hospital.

“The soldier sustained bruises.

His five-year old daughter was not injured. We are rendering the necessary assistance to the family,” Arevalo said.

Arevalo said de Guzman is assigned with the Home Affairs Office of the General Headquarters and Headquarters Service Command at Camp Aguinaldo.

Rene Acosta

Economy BusinessMirror

A4 Monday, January 13, 2020 • Editor: Vittorio V. Vitug

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DOE again rejects PXP Energy’s unsolicited bid to develop Malampaya

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By Lenie Lectura

@llectura

HE Department of Energy (DOE) has turned down a request from PXP Energy Corp. to reconsider its unsolicited proposal to take over the operations of the Malampaya gas field from the consortium once the service contract expires.

“As to the reconsideration being sought by PXP on their unsolicited proposal for the strategic development and utilization of an integrated gas hub [IGH] for Malampaya, DOE maintained its position that it cannot accept or entertain any proposal for an existing service contract,” said the agency’s Energy Resource Development Bureau (ERDB) over the weekend when asked for an update.

PXP Energy had proposed to develop and utilize an IGH at the site of the Malampaya project in Northwest Palawan.

The DOE rejected this, however, saying the unsolicited proposal cannot be accepted because the service area covered by Service Contract (SC) 38 is still subject to a valid and existing contract,

which expires in 2024.

The Malampaya gas field is being maintained and operated by a consortium led by Shell Philippines Exploration BV with 45 percent in SC 38; Chevron Malampaya LLC, 45 percent; and state-led Philippine National Oil Co. Exploration Corp., with the remaining 10 percent.

Davao businessman Dennis Uy’s Udenna Corp. is acquiring the Chevron Malampaya’s entire stake in the gas project.

“We advised PXP that we cannot be cognizant of their proposal. The reason is very basic. We have PCECP [Philippine Conventional Energy Contracting Program] and, under that legal framework, there are only two ways in order to get a service contract and oil exploration per-

mits,” Energy Assistant Secretary Leonido Pulido earlier explained.

Under the PCECP, investors may engage in upstream exploration or development activities in two ways: One, choosing an area from the 14 predetermined areas (PDAs) offered by the DOE and, two, proposing their own areas for exploration.

“There are only two ways. There is no third mechanism. What they are trying to do is create a third mechanism, which is unsolicited proposal.

You cannot nominate an area that is already covered by a service contract.

SC 38 is already covered by an exiting contract so we can’t take cognizance of their unsolicited proposal. We have to refuse it and we already advised them on that,” explained Pulido.

Meanwhile, the DOE said five PCECP applications are recommended for the issuance of petroleum service contracts.

However, the peace and order situation in Mindanao has prompted the agency to put on hold some of the applications that are recommended for approval.

“Currently, there are five applications that are recommended to award for a petroleum service contract. But due to the ongoing bilateral discussions with BARMM [Bangsamoro Autonomous Region in Muslim Mindanao], two applications were put on hold,” added the ERDB.

Out-of-pocket health expense of elderly Pinoys rising–PIDS

By Cai U. Ordinario @caiordinario

D

ESPITE the inclusion of more elderly Filipinos in the government’s health insurance, their out-of-pocket (OOP) medical expenses went up, according to a discussion paper published by the Philippine Institute for Development Studies (PIDS).

This was part of the findings of a discussion paper authored by PIDS Senior Research Fellow Michael RM Abrigo; and University of Hawaii at Manoa Associate and Assistant Professors Timothy J. Halliday and Teresa Molina.

The researchers said health insurance coverage increased 16 percentage points since the inclusion of the elderly in the system in 2014. However, per-capita health expenditures of the elderly rose to P1,931.24 in 2016, from P1,874.15 in 2014.

“We estimate that insurance more than doubles medical spending for those who are induced by the policy to take up insurance.

This increase in spending is driven by increases in outpatient and drug expenditures, which are typically not covered by this insurance,” the researchers said.

The study noted that higher health expenses are consistent with increased diagnoses of hypertension, a condition that is often treated with medication and could, therefore, result in higher drug expenditures.

Another reason is the increase in the use of inpatient services.

With a health insurance in place, more elderly may be availing of inpatient ser vices which also increase health costs.

The hike in expenses may be due to the possibility that doctors are treating patients with and without health insurance coverage differently.

In this case, some doctors would be more inclined to recommend aggressive treatment for those covered by health insurance which results in higher expenses.

“It suggests that government officials should ensure that the increased expenditures reflect higher use of

necessary care. In addition, policymakers should ensure that physicians are not charging higher prices to newly insured patients who have a less elastic demand,” the authors said.

Based on data from the Philippine Statistics Authority, the country’s total health expenditures at current prices rose by 8.3 percent in 2018 amounting to P799.1 billion, from P737.8 billion in 2017.

It contributed 4.6 percent to gross domestic product.

However, more than half of this amount or 53.9 percent were contributed by households. Data showed that OOP expenses of households reached P413 billion in 2018.

More than half or 50.1 percent of OOP worth P206.7 billion were spent on pharmacies while hospitals received the second-largest amount of OOP, at P148.8 billion.

The bulk of hospital expenditures went to private general hospitals, at P108 billion; followed by providers of ambulatory health care at P55.7 billion, or 13.5 percent; and ancillary services at P1.7 billion.

Solon: Nurses in private sector must get higher minimum pay

By Jovee Marie N. Dela Cruz @joveemarie

A

VICE chairman of the House Committee on Health on Sunday urged the Department of Labor and Employment to set a monthly minimum pay of P32,053 or higher for nurses in the private sector.

Rep. Mic hael Defensor of A nakalusugan said prov iding higher pay for nurses in the private sector will encourage them not to leave the country.

According to Defensor, the labor department—through the regional tripartite wages and productivity

boards—is fully empowered to fix the minimum pay of all workers along industry lines or levels, including nurses in private hospitals, clinics, diagnostic centers and similar settings.

“A considerable number of new nursing graduates that have not left the country are opting out of their profession, and are instead pursuing more gainful careers elsewhere, such as in real estate and insurance sales,” Defensor said in a statement.

“We have to encourage new nursing graduates to practice their profession if we want all our hospitals —both public and private—to have a stable supply of nursing staff in

the years ahead. And assuring them greater pay will help,” he added.

President Duterte earlier signed into law a measure that increased by a weighted average of 23.24 percent the salaries of some 1.4 million civilian government personnel, including nurses employed by the Department of Health, over the next four years.

Under the new salary standardization law, or Republic Act 11466, the entry-level pay of government nurses was bumped up to P32,053 effective January 1, 2020.

The same starting pay will go up to P33,575 on January 1, 2021; P35,097 on January 1, 2022; and P36,619 on January 1, 2023.

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Banking&Finance BusinessMirror

Monday, January 13, 2020 A5

Govt, oil firms cite progress vs fuel smuggling

By Lenie Lectura

G

@llectura & Bernadette D. Nicolas

@BNicolasBM

OVERNMENT and oil companies have cited progress in curbing smuggling through a fuel marking program as the Department of Finance (DOF) said it has, to date, marked more than a billion liters of fuel.

Finance Secretary Carlos G. Dominguez III told reporters last Friday the government has placed special markers in about 1.1 billion liters of fuel.

Dominguez added they found out one Davaobased company was selling “smuggled” or “adulterated” oil. He said the DOF received a report that the unnamed company was selling a liter of fuel below P5.

By February 3, all gasoline, diesel and kerosene are expected to be marked completely.

Simultaneously, personnel from the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) shall also begin field-testing activities, Dominguez said. He added that these agencies may impose penalties, as necessary, against companies proven to have unmarked, adulterated and or/diluted fuel.

The government is eyeing to collect at least P20 billion this year from the fuel marking program.

Compliance

OIL companies have also made a priority to comply with the government’s fuel marking program, which aims to plug revenue leakages from oil smuggling by placing a molecular marker on imported, manufactured and refined fuel products.

According to estimates by the DOF and the Asian Development Bank, the loss of national revenue due to oil smuggling and misdeclaration can reach as high as P40 billion. The government’s fuel marking program establishes a system for identifying fuel that has paid the correct import and excise duties.

Pilipinas Shell Petroleum Corp. said last week it will commission an automated fuel marking injection system at its Tabangao refinery in Batangas City at end-March this year.

“Our goal is to improve the safety of the process through automation. We’re aiming to fully automate the system at our refinery by end-March 2020,” Serge Bernal, vice president for External and Government Relations.

Last year, Pilipinas Shell conducted its fuel marking operations at its Northern Mindanao Import Facility (NMIF) in Cagayan de Oro City and its Tabangao Refinery in Batangas.

Shell, Petron

AS of December 1, both the gasoline and diesel import tanks of NMIF’s 90-million-liter capacity were fully marked.

Following the rollout in Mindanao, Pilipinas Shell started the fuel marking process at its Tabangao refinery last December 11.

The oil firm said it is working “doubletime” to install a fully automated injection system in both the NMIF and the refinery.

Petron Corp., the country’s largest oil refining and marketing company, is working with the government to, likewise, install an automated fuel marking injection system at its Bataan refinery.

“We also continue to work with their fuel marking team for the installation of the Automatic Injection System [AIS] in our refinery,” Petron President Ramon S. Ang said.

Petron has implemented the fuel marking program at its refinery and Misamis Oriental import facility last month.

The Petron Bataan Refinery (PBR), which has a 180,000 barrel-per-day maximum capacity, is the largest refinery in the Philippines supplying nearly a third of the country’s fuel demand.

Consistent

ANG, however, reiterated, that the program would work only if all players went by the same rules.

“We are optimistic that the fuel marking program will significantly address fuel smuggling, which has been a constant deterrent to the continued growth of our economy,” Ang added. “Consumers also stand to gain once everyone gets on board as it will ensure that all fuel products in the market will be legitimately sourced.”

Chevron Philippines Inc. said it has also

Perspectives An expanding risk landscape

G

iven the intense focus on cyber-security programs to protect information technology, why has there been so little emphasis on securing Operational Technology environments? The answer is that cyber-security budgets have traditionally excluded funds for OT, as addressing the risks correctly and at scale were viewed as prohibitively expensive.

By contrast, today’s organizations are making the argument to corporate boards, committees, and other decisionmakers that it is critical to invest in OT cyber-security measures due to the seriousness of the risks if this environment is exposed. Specifically, they are driving awareness of how certain market, operational and regulatory factors are contributing to a wider risk landscape. For example: 1. The industry’s growing focus on consumer needs and preferences The increasing shift from blockbuster drugs to smaller patient cohorts, specialty drugs and personalized medicine means that valuable—and vulnerable—patient data is needed on the manufacturing floor to customize products and delivery systems. While segmented supply chains and contract manufacturing are necessary to support rapid shifts in product focus, additional players in the supply chain could increase the attack vectors for harmful malware to infiltrate the OT environment. Further, as organizations seek to expand or rationalize their product portfolios, many are turning to partnerships and alliances with technology-focused and consumer-focused life sciences and health-care companies, which brings additional third-party risk.

2. Increasing digital disruption Disruptive digital technologies from blockchain to predictive analytics to artificial intelligence (AI) and the Industrial Internet ofThings (IIoT) are playing an increasingly important role in expediting not only the life sciences manufacturing process but also supply chain management, compliance operations, clinical trials, drug discovery and continuous quality assurance.

For example, industrial robots offer manufacturers a way to streamline production lines, increase productivity and optimize workflows from assembly to inspection and packaging. Motion control systems are used to assemble and move medical devices. Control sensing and vision-guided systems monitor product safety by scanning and verifying barcodes.

Although these innovative technologies are integral to ensuring patient safety and elevating quality, they are so complex that, if a cyber attack were to disrupt their operation, it would be difficult to bring them back online and costly to rebuild or replace them. Further, IIoT in particular renders traditional mitigating controls like firewalls obsolete, as these technologies bridge OT assets to corporate networks via cellular connectivity and cloud services.

Further, even if a facility doesn’t have 24-hour operations, IIoT is always on, leaving the organization open to attack on any day and at any time.

3. Outdated legacy systems and undefined roles Despite incredible innovation on the product front, some life sciences organizations are still operating with outdated technologies. Such organizations run on infrastructures that

include a significant number of legacy systems, which leave the OT environment vulnerable to unmitigated cyber attack.

Further, in many legacy OT environments, users still share passwords with others on their rotation shifts—although this is a complex issue given the fact that forcing a user logout deprives the operator of visibility into the system during the time offline.

In comparison to the more granular roles in corporate IT, the manufacturing floor is less structured with plant managers overseeing a variety of locations and lacking assigned OT responsibilities, including management of security and incident response. There is also very little crossover between IT and OT functions, leaving the issue of who is responsible for OT equipment procurement and configuration unclear.

Although companies are starting to give designated individuals in the OT environment specific cyber-security responsibilities, the lack of a formalized cyber-security infrastructure will likely hinder an expeditious response in the event of an attack.

4. Emerging data privacy regulations As patient data is known to be more valuable than financial data on the black market, there is a continuing movement throughout the world to take information protection to a new level. A number of recently enacted regulations—some of which originated in the European Union—are complicating life sciences’ decision-making about how to maintain data privacy while taking advantage of the enormous competitive advantages such data has to offer.

For example, the General Data Protection Regulation in the EU has restricted the use of health data to situations where there is individual consent or where the data significantly benefits the public good. This, of course, puts some constraints on how life sciences organizations can utilize nonclinical-trial data—some of which may come from third-party vendors— in the manufacturing process.

When it comes to supply chain practices, organizations are subject to the FDA’s Drug Supply Chain Security Act, which mandates the electronic documentation of products’journeys from the manufacturing floor to the patient.

Finally, the draft guidance, entitled “Data Integrity and Compliance with CGMP Guidance for Industry”seeks to ensure that accurate and reliable data is used across functions that impact drug safety and quality. In addition to potentially sustaining tens of millions of dollars in penalties, organizations that fail to comply with regulations designed to secure patient data can face serious reputational and financial damages from patients who may be affected.

The excerpt was taken from the KPMG article “An Open Target.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent memberfirms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines.

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

complied with the government program. Its import terminal in San Pascual, Batangas, is also compliant with the fuel marking program.

“We hope that this program will level the playing field among the industry participants and ensure that all oil companies pay the correct taxes and help build the nation,” Chevron Country Chairman Louie Zhang had said last year.

The so-called Big Three are members of the Philippine Institute of Petroleum (PIP), which has consistently expressed support for the fuel marking program provided that it is enforced on a level playing field.

“We support the government’s efforts to curb smuggling which continues to undermine the industry and the government in general,” the PIP said. Other members of PIP include Isla LPG Corp., PTT Philippines Corp. and Total Philippines Corp.

Consumer assurance

THE PIP believes that the program must be implemented across all industry players in order for it to be fully effective.

“The success of this program would mean a significant increase in tax collection and the opportunity to utilize these for much-needed social services and infrastructure,” the PIP said. “Consumers would also be assured of the quality of fuels in the market coming only from reputable sources.” Seaoil Philippines became the first oil firm to comply with the new government initiative in its bulk terminal in Mabini, Batangas. Unioil Philippines followed suit in its depot in Mariveles, Bataan.

Seaoil and Unioil are members of the Independent Philippine Petroleum Companies Association that also supports the fuel marking program. Other Ippca members include Eastern Petroleum Corp., Flying V, City Oil, Pryce Gases, and LPGMA, among others.

Oil companies said they continue to coordinate closely with the DOF, BIR, BOC and the Department of Energy to ensure the successful implementation of the program.

Confiscation, forfeiture

PETROLEUM products that are found to not

contain the official marker or those with markers but below the required level shall be presumed to have been withdrawn or imported with the intention to evade the payment of duties and taxes. These petroleum products may be subject to confiscation and forfeiture, as well as filing of the appropriate criminal charges.

For the conduct of random field testing, the BIR shall cover petroleum products from refineries and its attached depots, gasoline stations and other retail outlets, while the BOC will supervise vessels, depots, warehouses, tank trucks or other fuel-transporting vehicles.

In preparation for the field testing aspect of the fuel marking program, the BIR has already issued last week a revenue memorandum circular ordering all revenue district offices to require all gasoline stations to submit a sworn declaration of inventory of diesel, gasoline and kerosene as of December 31 last year.

The joint venture of Switzerland-based Sicpa SA and SGS Philippines secured the fuel marking project.

BusinessMirror

A6 Monday, January 13, 2020 Republic of the Philippines

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DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 January 13, 2020

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s.

Name and Address of Company/Employer

1

2

Name and Citizenship of Foreign National

HONHUA ENVIRONMENTA TECHNOLOGY PHILIPPINES INC. Brgy. Sahud-Ulan, Tanza, Cavite

MR. HUIBIN ZHENG / Chinese

K. DEC INC. Brgy. Santo Domingo, Cainta, Rizal

MR. YOUNGJIN BAEK / Korean MR. KATSUNORI SHIRANI / Japanese

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YO-ZURI PHILIPPINES, INC. EPZA, Rosario, Cavite

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RICH HARVEST VALLEY PHILIPPINES INC. Brgy. Sabang, Naic, Cavite

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RICH HARVEST VALLEY PHILIPPINES INC. Brgy. Sabang, Naic, Cavite

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AMERICAN POWER CONVERSION CORPORATION (A.P.C.) B.V PEZA, CEZ, Rosario, Cavite

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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MR. YI CHEN/ Chinese

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MR. XIN XIANG/ Chinese

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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MR. HUNG-YI WANG / Chinese Mr. CHENGHUI WU / Chinese MR. VERLON LE DON BROOKS /American MR. SHUAI HUANG/ Chinese

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MOA CLOUDZONE CORP. 112 Address: Brgy. Binakayan, Kawit, Cavite

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Mandarin Customer Service Representative

MOA CLOUDZONE CORP. 113 Address: Brgy. Binakayan, Kawit, Cavite

Ms. MENGXIA CHEN/ Chinese

Chinese Customer Service Representative

83

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Ms. NANA MO/ Chinese

Mandarin Customer Service Representative

MOA CLOUDZONE CORP. 114 Address: Brgy. Binakayan, Kawit, Cavite

Mr. FAN YANG/ Chinese

Chinese Customer Service Representative

84

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. PENG ZHOU/ Chinese

Mandarin Customer Service Representative

MOA CLOUDZONE CORP. 115 Address: Brgy. Binakayan, Kawit, Cavite

Mr. MINGJUN GUO/ Chinese

Chinese Customer Service Representative

85

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. CHENGLONG DUAN/ Chinese

Mandarin Customer Service Representative

Mr. JILONG SONG/ Chinese

Chinese Customer Service Representative

86

BROTHER INDUSTRIES (PHILIPPINES), INC. FPIP, Brgy. Ulango, Tanauan City, Batangas

MOA CLOUDZONE CORP. 116 Address: Brgy. Binakayan, Kawit, Cavite

Mr. KOJI OJIKA/ Japanese

Manager (Engineering Department)

MOA CLOUDZONE CORP. 117 Address: Brgy. Binakayan, Kawit, Cavite

Mr. WUSONG CHEN/ Chinese

Chinese Customer Service Representative

87

BROTHER INDUSTRIES (PHILIPPINES), INC. FPIP, Brgy. Ulango, Tanauan City, Batangas

Mr. SHINJI KATO/ Japanese

Assistant Manager (Production Department)

MOA CLOUDZONE CORP. 118 Address: Brgy. Binakayan, Kawit, Cavite

Mr. JING WU/ Chinese

Chinese Customer Service Representative

88

BROTHER INDUSTRIES (PHILIPPINES), INC. FPIP, Brgy. Ulango, Tanauan City, Batangas

Mr. NORIYUKI ISHIKAWA/ Japanese

Assistant Manager (Production Department)

MOA CLOUDZONE CORP. 119 Address: Brgy. Binakayan, Kawit, Cavite

Mr. SHAOTENG WANG/ Chinese

Chinese Customer Service Representative

89

K & K MOLDING, INC. Lima Technology Center, Lipa City, Batangas

Mr. YUJI ZEN/ Japanese

Quality Assurance General Manager

MOA CLOUDZONE CORP. 120 Address: Brgy. Binakayan, Kawit, Cavite

Mr. JUSHUO ZOU/ Chinese

Chinese Customer Service Representative

90

SAKAMOTO PHILIPPINES CORPORATION Laguna Technopark, Biñan City, Laguna

Mr. KEI HIROBE/ Japanese

Branch Manager

MOA CLOUDZONE CORP. 121 Address: Brgy. Binakayan, Kawit, Cavite

Mr. XIAODAN WANG/ Chinese

Chinese Customer Service Representative

91

MASSPOWER PHILIPPINES ELECTRONICS INCORPORATED FCIE Compound, Langkaan 1, Dasmariñas City, Cavite

Mr. WENSHENG WANG/ Chinese

MOA CLOUDZONE CORP. 122 Address: Brgy. Binakayan, Kawit, Cavite

Mr. ZHE YANG/ Chinese

Chinese Customer Service Representative

92

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. WEIWEI WU/ Chinese

MOA CLOUDZONE CORP. 123 Address: Brgy. Binakayan, Kawit, Cavite

Mr. CHUNHANG GAO/ Chinese

Chinese Customer Service Representative

93

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. RIKANG LUO/ Chinese

MOA CLOUDZONE CORP. 124 Address: Brgy. Binakayan, Kawit, Cavite

Mr. HELI ZHANG/ Chinese

Chinese Customer Service Representative

94

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. BEIBEI ZHU/ Chinese

MOA CLOUDZONE CORP. 125 Address: Brgy. Binakayan, Kawit, Cavite

Mr. YUBO TIAN/ Chinese

Chinese Customer Service Representative

95

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. PENG HUANG/ Chinese

MOA CLOUDZONE CORP. 126 Address: Brgy. Binakayan, Kawit, Cavite

Mr. ZHAOYANG WANG/ Chinese

Chinese Customer Service Representative

96

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. WENCONG ZHU/ Chinese

MOA CLOUDZONE CORP. 127 Address: Brgy. Binakayan, Kawit, Cavite

Mr. DAJU CHEN/ Chinese

Chinese Customer Service Representative

97

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Ms. JUANNING LYU/ Chinese

MOA CLOUDZONE CORP. 128 Address: Brgy. Binakayan, Kawit, Cavite

Mr. HAOYU YUAN/ Chinese

Chinese Customer Service Representative

98

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. ZHIXING CHEN/ Chinese

MOA CLOUDZONE CORP. 129 Address: Brgy. Binakayan, Kawit, Cavite

Mr. JISONG NIU/ Chinese

Chinese Customer Service Representative

99

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. RENGUI HUANG/ Chinese

MOA CLOUDZONE CORP. 130 Address: Brgy. Binakayan, Kawit, Cavite

Mr. MARSECO/ Indonesian

Indonesian Customer Service Representative

MOA CLOUDZONE CORP. 131 Address: Brgy. Binakayan, Kawit, Cavite

Mr. YANG LI/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. 132 Address: Brgy. Binakayan, Kawit, Cavite

Mr. QINGKAI SHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. 133 Address: Brgy. Binakayan, Kawit, Cavite

Mr. XUELIANG XUE/ Chinese

Chinese Customer Service Representative

Mr. FAN YANG/ Chinese

Chinese Customer Service Representative

Mr. BAIWEI XU/ Chinese

Chinese Customer Service Representative

Executive Vice President/ General Manager

Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative

SMART WIN TECHNOLOGY, INC. 100 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. XIANG ZHANG/ Chinese

SMART WIN TECHNOLOGY, INC. 101 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. SIBO SONG/ Chinese

SMART WIN TECHNOLOGY, INC. 102 4-12F Southwoods Tower 2, Biñan City, Laguna

Ms. YAMIN CHEN/ Chinese

SMART WIN TECHNOLOGY, INC. 103 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. XINGYU LI/ Chinese

Mandarin Customer Service Representative

MOA CLOUDZONE CORP. 134 Address: Brgy. Binakayan, Kawit, Cavite

SMART WIN TECHNOLOGY, INC. 104 4-12F Southwoods Tower 2, Biñan City, Laguna

Mr. CHONGWEI ZHANG/ Chinese

Mandarin Customer Service Representative

MOA CLOUDZONE CORP. 135 Address: Brgy. Binakayan, Kawit, Cavite

Mandarin Customer Service Representative Mandarin Customer Service Representative Mandarin Customer Service Representative

Agriculture/ Commodities BusinessMirror

A8 Monday, January 13, 2020 • Editor: Jennifer A. Ng

www.businessmirror.com.ph

USDA sees PHL pork output falling by 5% this year

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

he country’s pork output this year may fall to a five-year low of 1.475 million metric tons (MMT) due to African swine fever (ASF), which is fatal to hogs, according to a report from the United States Department of Agriculture (USDA).

USDA’s historical data showed that pork production in the Philippines has not registered a decline in the last 10 years.

The USDA raised its pork production estimates for the Philippines by 5 percent from its December forecast. However, the figure is still 10 percent lower than the estimated output of 1.64 MMT for 2019.

“Higher-than-expected hog supplies and fewer disease impacts boost 2020 production by 5 percent from the previous estimate, but production is forecast to fall 10 percent year-over-year due to ASF impacts,” it said in its report, titled “Livestock and Poultry: World Markets and Trade.”

USDA data showed that the Philippines’s pork output has been growing steadily since 2009, when total production expanded by 1.17 percent to 1.295 MMT, from 1.280 MMT in 2008.

For 2019, the USDA estimated that Philippine pork production

went up to 1.64 MMT, from 1.6 MMT despite the detrimental effects of the confirmation of ASF outbreaks in Luzon.

“ASF has not spread as quickly as previously anticipated, resulting in a lower-than-expected herd liquidation,” it said.

Philippine Statistics Authority (PSA) data showed that the country’s hog output has been increasing from 1.877 MMT in 2009 to 2.417 MMT in 2018.

Despite the ASF outbreaks last year, the country’s hog output from January to September managed to expand by 2.54 percent to nearly 1.7 MMT, from 1.657 MMT in the same period of 2018, PSA data showed.

“There were reports of increases in slaughtering activities, and early disposals of stocks in Cagayan Valley, Mimaropa region and Zamboanga Peninsula due to the fear of being affected by African swine fever,” the PSA said.

“Higher average liveweight of

hogs disposed of in Calabarzon, Western Visayas and Central Visayas was also cited. In addition, there were higher demand for pork in Northern Mindanao, Soccsksargen and Caraga during the [third] quarter,” it added.

In the same report, the USDA projected that the country’s total pork consumption this year would decline to 1.775 MMT from 1.879 MMT recorded last year, as consumers are expected to shift to other protein sources due to the ASF scare.

Furthermore, the USDA estimated that total pork imports this year would reach an all-time high of 300,000 MT to plug the shortfall in domestic production.

The United Nations’ Food and Agriculture Organization (FAO) and the Organisation for Economic Co-operation and Development (OECD) had also projected that the country’s meat consumption will register a double-digit growth by 2028.

In a joint report, titled “Agricultural Outlook 2019-2028,” published in July 2019, the FAO and OECD said the Philippines’s meat consumption will rise 28.67 percent to 5.197 MMT by 2028, from the estimated 4.039 MMT. The double-digit growth in meat demand translates into a 0.90-percent average growth in the percapita consumption from 2018 to 2027.

The report projected that each Filipino would consume at least 34.6 kilograms of meat annually by 2028. The country’s per-capita meat consumption from 2015 to 2017 averaged 31.2 kg.

Amend PCIC charter to make crop insurance more affordable–Pids

By Cai U. Ordinario @caiordinario

T

he revision of the charter of the Philippine Crop Insurance Corp. (PCIC) will allow more farmers to benefit from crop insurance, which will allow them to recover their losses caused by typhoons, pests and other natural calamities.

In a discussion paper, titled “Towards a More Inclusive Agricultural Insurance Program,” a research team led by Philippine Institute for Development Studies (Pids) President Celia M. Reyes said the amendments to the PCIC charter must focus on expanding its role as reinsurer for companies willing to offer agriculture insurance.

Currently, the PCIC only provides direct insurance coverage for individual farmers, farmers groups and self-financed farmers.

“Having more entities that offer agricultural insurance will lead to higher penetration rates, while keeping prices at affordable and competitive levels,” the Pids researchers said.

Apart from amending the PCIC charter, the researchers recommended the use of the Community-

Based Monitoring System (CBMS) to better monitor and target farming households.

The PCIC currently uses the list of eligible farmers from the Registry System for Basic Sectors in Agriculture (RSBSA) conducted by the Department of Budget and Management, and consolidated lists from various agencies. This includes the Departments of Agriculture (DA) and of Agrarian Reform, and National Irrigation Administration.

However, the Pids researchers said having different lists makes the RSBSA prone to exclusions.

When there are farmers with the same name, one is automatically removed from the list to avoid duplication.

This can be avoided if the government will use the CBMS. The researchers said rider questions for farming households can help create an updated list of beneficiaries.

“By adding rider questions for farming households, [the government can] come up with a more updated, and complete, listing and geotagging of agricultural producers, and households, in the country,” they said.

The researchers also recom-

mended the forging of partnerships between the PCIC, and local governments, to disseminate information and assistance to farmers in their locale. The PCIC is a government-owned and -controlled corporation attached to the DA. They also urged the PCIC to target only farmers with at most 3 hectares of farmland to ensure that the financing they extend will benefit only smallholder farmers who are struggling financially.

This is important, the researchers said, since smallholder farmers comprise 88.9 percent of farm holdings and 48.4 percent of total farm area.

Created in 1978, the PCIC’s principal mandate is to provide insurance protection to farmers against losses arising from natural calamities, plant diseases, and pest infestations of their palay and corn crops, as well as other crops.

The PCIC also provides protection against damage to/loss of non-crop agricultural assets, including, but not limited to, machineries, equipment, transport facilities and other related infrastructures due to peril/s insured against.

www.businessmirror.com.ph

BusinessMirror

Monday, January 13, 2020 A9

A10 Monday, January 13, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Why PHL is not like Indonesia

T

he “victory” of Indonesia and its President Joko Widodo in its confrontation with China in waters off Indonesia’s northern Natuna Regency reached the local headlines last week. China contends that the area is its “traditional fishing grounds.”

Widodo asserted in no uncertain terms that “no negotiation regarding matters pertaining to sovereignty would ever be held with Beijing over Natuna.” He dispatched eight warships, and announced plans to send four F-16 to patrol and secure the Natuna waters.

Local commentators made note of the following actions by Indonesia that made, or at least “encouraged,” China to back down from any further confrontation.

Indonesia deployed its military and sent 120 of its fishing fleet to Indonesia’s exclusive economic zone. The Indonesian Coordinating Political, Legal and Security Affairs minister was quoted, “You will, in addition to exercising your rights as citizens, also make good on your duty to help defend the country, to show that these waters are ours.”

On its web site, the foreign ministry also cited the July 2016 arbitral ruling in favor of the Philippines’s claims in the South China Sea, pointing out that China’s historical claims do not have legal basis.

Widodo had visited the islands on Wednesday. He was photographed inspecting the naval assets that were tasked to defend the area. It might be good to note that when sworn in for his second term in October, his approval rating was 59 percent, which is low for an Indonesian president.

Nonetheless, with the Chinese pulling out of the area, this is both a domestic and regional political win for Widodo. However, to make direct comparisons between Indonesia and the Philippines in this situation is not correct.

Ignoring the difference in the military capabilities of the Philippines and Indonesia, there are other factors to consider.

For example, the Natuna Regency is not some low tide rock. The many islands making up the Regency have a current permanent population of about 90,000. Natuna Airport located at Ranai (population 20,000), the capital city of Natuna Regency, is also an air base of the Indonesian Air Force.

Perhaps, China has other things to consider. In April 2019, China and Indonesia signed 23 memorandums of understanding on investment and trade. Further, China is funding, as well as “constructing,” at least a major portion of the Jakarta-Bandung Bullet Train project. The competition between China and Japan on this project has been long and strong.

But maybe a primary consideration for both countries is that China remains one of the key sources of investments for Indonesia, reaching $2.3 billion in the first half of 2019, constituting 16.2 percent of the country’s total foreign investments. In fact, last month, Indonesia’s Investment Coordinating Board offered $91.1 billion worth of infrastructure projects to Chinese investors under the Belt and Road Initiative.

Since early last year, the Widodo administration has been sending clear feelers to China for its participation in the relocation of the capital city from Jakarta to East Kalimantan. The Philippines is not in the same position as Indonesia regarding business relations with China.

It is all well and good to speak of national sovereignty and territorial rights. Yet, those must be taken in the context of the business relations between two countries. And in this situation, neither China nor Indonesia can afford to push the other too far.

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Fire and politics Atty. Jose Ferdinand M. Rojas II

RISING SUN

A

N argument made in a recent edition of The Economist states that since people are now slowly but very strongly feeling the real effects of climate change, those politicians who have been downplaying it may find it difficult to maintain their credibility. Indeed, people are going to listen to and choose leaders who are dealing with climate disasters.

Weak climate policies are not going to appeal to the masses, especially now that we are all in the middle of a pressing problem.

Australia’s politicians have downplayed the risks partly in the interest of trade and exports. Naturally extracted materials, like coal and iron, make up 70 percent of their

country’s exports, particularly to China. Here at home, politicians who tend to protect business interests over environment preservation may soon find themselves in a difficult position.

We often wonder why many leaders are not dealing with it as it is: a crisis. Aside from the busi-

ness agenda, it is also possible that some have not totally grasped the issue and the risks. In many places around the world, governments are showing an appalling lack of climate leadership, not realizing that the present is, indeed, the key to the future.

Apart from burning forests, climate change also brings with it the possibility of stronger storms, worsening seasonal allergies (we have noticed it here!), extreme heat and drought, water shortage and many other dire effects. The old ways of containing and assessing these disasters are not applicable anymore, as we have seen in Australia. Resiliency then becomes the buzzword, the key to adaptation and survival. Efforts must go toward this direction.

Data shows that what is happening in Australia could happen in many other parts of the world that have the same terrain, like the

American west coast, the Mediterranean, southern Africa and parts of Central Asia. In 2018, California experienced a deadly forest fire, killing over 80 people. More than a hundred people died in wildfires in Greece in the middle of the 2018 European heat wave. Let’s keep in mind that the politics of the land has much to do with disasters as its terrain and other physical factors.

As we continue to pray for rain in Australia and for the fires to finally be put out, we must keep our own situation in check. Be wary of politicians who don’t have strong climate action plans, keep a watchful eye on agencies, like the Climate Change Commission, and take every opportunity to make our politicians know that we care about climate action. Climate change is real, despite what climate deniers (and those who are prone to inaction) are saying and doing (or not doing).

Iran-US conflict to shift back to proxies after threat of war

By Glen Carey & David Wainer | Bloomberg Opinion

I

ran and the United States stepped back from the brink of open military conflict this week, but underlying tensions that led to a spate of violence in the past month aren’t going away and sanctions pressure on Tehran is climbing even higher.

Despite a modest easing of tensions—President Donald J. Trump said “Iran appears to be standing down”—the Islamic Republic won’t back down from its goal of making the US pay for killing a top general and for the crippling sanctions imposed since 2018, according to a senior Western diplomat.

Instead, current, and former, diplomats and senior Pentagon officials predict the conflict is likely to return to a more common historic pattern: strikes by proxies on the US and allies, cyber attacks and harassment of ships in the Persian Gulf. Actions like those can muddle Iran’s role and make it harder to justify a direct military response from the US. “Iran wants to avoid an all-out war with the United States it cannot win,” said William Burns, a former US deputy secretary of state who’s now president of the Carnegie Endowment for International Peace. “Its leadership is eager to move off the overt tit-for-tat cycle to the murkier world of proxy-led, [asymmetrical] attack in which it feels more comfortable and where it feels it has the advantage.”

The absence of American casualties from Iran’s missile attack on a joint US-Iraqi base on Wednesday morning also allowed Trump to declare his decision to kill Gen. Qassem Soleimani last week a success.

Instead of responding with military action, Trump imposed fresh

sanctions targeting Iran’s metals, construction and textile industries as well as eight senior officials.

The step back has eased concerns in global markets for now. But it wouldn’t take much for the Iranians—at very little expense, whether directly or through their proxies—to renew those worries by disrupting shipping routes in the Persian Gulf, targeting Saudi Arabia or stirring up trouble in Middle East countries, like Bahrain, where the Shiite-led Islamic Republic can appeal to sizable Shiite populations.

Nervous clerks

“All the Iranian navy has to do to achieve its strategic goals is to make insurance clerks in London nervous,” David Des Roches, an associate professor at the National Defense University, said on Thursday during an event in Washington organized by the National Council on US-Arab Relations. “Their military approach of asymmetric proxy warfare allows them to stir the pot at a relatively low cost to themselves and occupy a disproportionate amount of their adversaries’ resources.”

Top Pentagon officials are already warning that the threat hasn’t gone away. Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said on Wednesday that his commanders expect militias with “substantial links” to Iran to “conduct terrorist operations” against US and coalition forces

in Iraq and, perhaps, elsewhere.

Iran’s Supreme Leader Ayatollah Ali Khamenei said it’s now the Iraqi militias’ turn to act, given that Abu Mahdi al-Muhandis, who led Iranbacked proxy forces in Iraq, was killed in the same drone strike that took Soleimani. Hezbollah Leader Hassan Nasrallah has also pledged a response.

The US accuses Iran of orchestrating the September attack on Saudi oil processing facilities, which marked the first time multiple drones were launched from a long distance in a targeted assault. It temporarily took out a portion of Saudi Arabia’s oil production, and spooked energy markets.

“A year ago, we would never have estimated that Iran could carry out the kind of precise, focused strikes it did against Saudi oil facilities, with the effectiveness it did,” said Anthony Cordesman, who holds the Arleigh A. Burke Chair in Strategy at the Center for Strategic and International Studies in Washington. “You are watching major shifts taking place in the weapons and in the technology that will shape [asymmetrical] warfare in the future.”

The Iranians understand this.

They’ve provided missile and drone technology to Yemen’s Houthi rebels, who are fighting Saudi Arabia in an indecisive war that started in March 2015. The transfer of technology to the Houthis has prolonged the conflict, frustrated the kingdom’s leadership and allowed the Houthis to attack airports and military bases inside the kingdom.

Back-channel talks

The Iranians also use more traditional tactics. They coerce and

threaten Shiite officials in Iraq who don’t fall in line with their policies, according to an Arab diplomat who spoke on condition of anonymity.

They run inexpensive but sophisticated and effective propaganda campaigns that aim to influence opinion in their favor in countries with Shiite majorities, the diplomat said.

One sliver of optimism: Analysts say the pullback by both Iran and the US could also reopen space for back-channel diplomacy, either at the United Nations or through a third country. The Swiss, who have diplomatic ties with Tehran, serve as an intermediary for the US in Iran.

Joseph Westphal, a former US ambassador to Saudi Arabia and undersecretary of the Army, said the chances for diplomacy are now greater because both sides realize that an all-out confrontation is in neither of their interests.

“Both countries will ramp up their effort at back channeling as they see there’s nothing to gain from a major escalation,” said Westphal, who now teaches international affairs at the Wharton School at the University of Pennsylvania. “This may not happen within days, but diplomatic efforts will increase over time. There’s a higher chance they will at least communicate a message to each other to reduce the aggression on both sides.”

But wary of the threat of terrorist reprisals linked to the pressure on Iran, the top Democrats on the Senate and House foreign relations committees, Sen. Bob Menendez and Rep. Eliot L. Engel, have asked Secretary of State Michael Pompeo for details on the department’s plan to protect US diplomatic missions.

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Opinion

Options for business

Blind spots

BusinessMirror

Siegfred Bueno Mison, Esq.

Luke Michael Valdez

THE PATRIOT

DEBIT CREDIT

A

S mentioned in my earlier column, partnerships and corporations alike are registered with the Securities and Exchange Commission. For the registration costs, it will be relatively the same for both entities. In terms of costs to maintain your business structure, it is also relatively the same. So, fees aside, you also have to consider the time and effort you’ll put in as there is a lot of bureaucracy to go through not only in SEC but also in local government units.

One characteristic of a partnership is that in general, all partners have unlimited liability. In other words, if the partnership is unable to meet its obligations, its creditors can go after the personal assets of all of the partners. However, you can avoid this from happening by becoming a limited partner, a partner who has limited liability. You become a limited partner at the price of losing some partnership rights and the right to manage the partnership.

General partners, on the other hand, enjoy multiple rights and the right to manage the partnership affairs but have unlimited liability. The principle “to whom much is given much is expected” applies in this case.

On the contrary, shareholders of a corporation enjoy limited liability.

Only the amount put in by the shareholder can be sought out by its creditors. That sounds appealing but that isn’t always the case. Loan contracts from creditors may include clauses where they can apply payments of their loans through personal assets of shareholders. In addition to that, the courts can also make shareholders liable when it has been established that a corporation has been used for fraudulent and illegal acts.

The corporate veil can be pierced when a corporation is used as a mere alter ego of a person or corporation to evade its obligations. So watch out for conditions that may make the limited liability characteristic of a shareholder invalid.

Notwithstanding nonprofit organizations, partnerships and corporations ordinarily exist to earn income. What you do (or can do) with that income largely varies depending on what business type you choose to register.

For partnerships, partners agree upon inception on an income distribution plan. They can agree on how much a partner gets on net profits, and how much a partner absorbs on net losses. This is particularly useful when you want to hold yourself and your partners accountable for their participation in the partnership.

Income will be proportionately reflected in their capital balance, which makes it easier to keep track of how much the partnership owes a partner.

In corporations, shareholders only earn their due through dividends or selling of shares (if there is any share appreciation). All income accumulated throughout the years are kept in a retained earnings account and for that to be distributed as dividends, there are certain limitations that the corporation must

There is no clear-cut winner on what business type is better. It’s a combination of your purpose, appetite for risk, plans for harvesting your investment, tax implications as an individual, and desired management style. It is also a question of your plans in the future. abide. One limitation is that not all retained earnings can be given out as dividends as only unrestricted retained earnings can be distributed.

Unrestricted retained earnings arise from deducting all restrictions placed on a corporation’s earnings because of funds set aside for future projects or legal requirements, such as those to assure creditors are paid.

Conversely, you also have to take note to declare dividends to avoid being assessed of improperly accumulated retained earnings tax. The computation for dividends is also complex if you take into account different classes of shareholders and the different terms of paying dividends.

Ultimately, it is also up to the board of directors to make a resolution to declare dividends just.

In general, partnerships are taxed just like corporations. They are subject to the same rules when it comes to determining taxes. Only general professional partnerships are different as the partners are taxed based on their individual capacities. Meaning, the share of the partner in the GPP net income is taxed under their own name. On the other hand, share of the profit of a partner in a regular partnership is subject to final withholding tax just like dividends paid to individual shareholders.

There is no clear-cut winner on what business type is better. It’s a combination of your purpose, appetite for risk, plans for harvesting your investment, tax implications as an individual, and desired management style. It is also a question of your plans in the future. Ask yourself how big do you see your business growing and ask if a certain type of business will help you achieve your vision now and still be appropriate in the future.

Luke Michael Valdez is a consulting associate of UpSmart Strategy Consulting Inc., a financial consultancy firm that specializes in strategic finance, structuring and restructuring of start-ups, social enterprises and SMEs. This column accepts contributions from the business community that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com

A

blind spot is an area of knowledge or understanding that a person pays no attention to. He might see or know of it, but he fails, by intent or neglect, to truly understand that particular area. When Vice President Leni Robredo issued her report after her 18-day stint as cochair of the Inter-Agency Committee on Anti-Illegal Drugs (ICAD), some government officials aired their concerns, which were expectedly aligned with their respective political affiliations and personal beliefs. Robredo reported that, despite the number of Filipinos killed and all the money spent, the shabu supply seized and the drug money recovered did not even breach 1 percent of the alleged total. What I found personally alarming is the fact that Robredo mockingly emphasized the obvious—“That’s just 1 percent. If this were an exam, the score of the government would be 1 over 100.” And, in response, President Duterte called Robredo a “colossal blunder.”

Whenever we convey facts, and all the more, our opinion, it has to be done in a way where the message will be welcome to further enhance communication channels. The Robredo report, based on whatever official data made available to the cochair of the ICAD, was attacked by the drug enforcement chief, saying Robredo “dismissed and ignored all of our government’s accomplishments and efforts for the past three years” in a “mere political attack.” Of the many reactions to the Robredo report, I find Sen. Panfilo Lacson’s reaction most appropriate: “The war against illegal drugs is a continuing fight and, therefore, I would rather say, it has not been successful enough, rather than call it a failure.” Feedback is al-

ways desired, especially for leaders.

Yet, the best feedback can be acquired through self awareness.

Leaders can make use of several tools to solicit feedback and increase their self awareness in the process.

The Johari Window is one example. It is based on two ideas—that trust can be acquired by revealing information about ourselves to others, and learning more about ourselves from the feedback of others. American psychologists Joseph Luft and Harry Ingham developed this four-window pane (open, blind spot, hidden and unknown) approach as a feedback/ disclosure model of self-awareness.

Essentially, information is transferred from one pane to the other as a result of mutual trust, which can be

Fireworks in January Thomas M. Orbos

STREET TALK

E

ntering the new year were several news items of note on traffic and transport, reminding us once more that indeed the holidays are over and hitting the roads would again be a major undertaking for everyone. Back to the real world, indeed.

Immediately catching everyone’s attention were the fireworks coming from the motorcycle taxi ridesharing sector. Starting last year on shaky grounds as a pilot program since Philippine laws do not allow two-wheeled vehicles as a mode of public transport, the number of motorcycle taxis grew exponentially in a matter of months, creating its own niche in the local transport universe.

Beginning this year, the Land Transportation Franchising and Regulatory Board granted the extension of the pilot program with Angkas, the company that started it all, but now with two other participants— JoyRide and Move It, to share its cap and the market. This started a series of events, evolving into so many side issues that until now has yet to cease.

There were allegations of influence-

peddling by national politicians in behalf of the new players; of foreign ownership and the many violations of Angkas, the issuance of a temporary restraining order on the LTFRB decision, etc.—all these in a span of not more than three weeks of the new year. No matter the outcome, it seems that the two-wheeled ridesharing phenomenon has made its mark in our public transport landscape, highlighting the unserved commuter demand that now need a concrete response from our policymakers beyond the present laws of the land.

There were other news greeting us at the start of the year, thankfully, a series of good news on transport and traffic, giving us a renewed hope that all of these will be fixed in our lifetime.

Whatever Meghan and Harry do, they’ll be cashing in

By Alex Webb

Bloomberg Opinion

T

here’s a hypocrisy at the heart of the Duke and Duchess of Sussex’s assertion that they will strive to become “financially independent.” No matter what they do, they’re likely to be cashing in on their status as A-list members of the royal family.

Prince Harry and Meghan Markle want “space to focus on the next chapter,” they said in a bombshell statement this week. It’s an effort to cut themselves free of the worst vicissitudes of life as members of the British monarchy, not least the unwanted scrutiny of the country’s fearsome tabloid press.

But it’s hard to conceive of a path they can plot that doesn’t exploit that very “royalness” they want to flee.

And the “his and her royal highness” brand certainly affords them plenty of opportunity.

When they announced their Sussex Royal charitable foundation in June, they trademarked the name for everything from hoodies to health and wellness training, according to the Financial Times. While the profit from these products would probably go to charity, as is the case with Prince Charles’s Duchy Organic food business, it would still pose a risk to a royal brand that has been cultivated carefully for decades by those around the Queen and the Prince of Wales.

That’s one reason why “the firm”—

Princess Diana’s nickname for the Windsor family—is so agitated by the potential lack of control over a Sussex spin-off.

Were Meghan and Harry to capitalize on their 10 million Instagram followers, they could expect to make $34,000 for a sponsored post, according to an estimate from the web site Influencer Marketing Hub. For the duchess, the evolution of Rihanna from pop star to social-media influencer to fashion impresario might offer some useful pointers. Last year, the singer joined forces with LVMH Moet Hennessy Louis Vuitton SE, the world’s biggest fashion company, to create the fashion brand Fenty.

There are already rumors about Markle speaking to LVMH-owned

Givenchy about possible collaborations. It would be a far cry from her earlier royal duties, which ranged from visiting primary schools to net ball shoot-outs in England’s East Midlands.

It’s absurd to argue that any of this would be possible without the Windsor cachet. Indeed, if the duke is ever truly able to command $500,000 speaking fees, in line with former US President Barack Obama, as Bloomberg News reported he might on Wednesday, it won’t be because he has unparalleled leadership experience or insights—or his Cicero-like oratory skills. It’s because of who his family is.

The desire to strike out alone is in some ways admirable. With Charles

Monday, January 13, 2020 A11

achieved from the feedback of others. In the first window called open arena, everything about the person’s attitudes, behavior, emotions, feelings, skills and views will be known by the person, as well as by others.

The larger the open arena becomes, the more effectual and dynamic the relationship will be. The blind spot is reduced by way of feedback from others. Constructive feedback is the best way to enable the other to decrease his own blind spot. The hidden area contains information that one feels reluctant to reveal, including inner fears, past experiences, and secrets, while the unknown area contains information not known to everyone, likely due to traumatic past events, which can be unknown for a lifetime. Information in this area can be reduced through observation of others, as well as open communication. The basic objective in the Johari model is to allow the person to move all information, in an atmosphere of mutual trust and constructive feedback, from these three other windows to the open arena. Of course, the foundation of these transfers of information will be trust.

In the Bible, Proverbs 12:1 tells us, “Whoever loves discipline loves knowledge, but whoever hates correction is stupid.” Perhaps, the cause for the refusal to listen to others is the lack of trust or, worse, pride. Historically, military leaders have suffered defeats (Hitler in Stalingrad, Napoleon in Waterloo, Alexander the Great in India, Julius Caesar in the Gallic Wars, among others) either because they did not have or were not given important information. After reading the Robredo report, House Speaker Cayetano

suggested a congressional hearing to allow all concerned agencies to lay all cards and share all information to all. Getting all available information through honest feedback will eliminate blind spots and, eventually, help achieve an objective. Our leaders need to know more, listen more, and understand more.

I support the elimination of the drug menace by way of legitimate means. The comments I get from Filipinos in several provinces regarding the drug campaign have been mostly positive as local drug lords have been isolated, if not terminated! Even some friends, lawyers included, have told me that the use of extralegal measures is necessary to get instant impact against these drug syndicates.

Everyone will have blind spots.

There is no such thing as a 360degree perspective.

Feedback should come from different sources for balance, validation and cross reference. Feedback should focus on the actions or the behavior of a person. Name calling and rumor mongering should be taboo in respectable offices.

Unrestricted flow of information is a must for all organizations to minimize blind spots. Although some feedback can be destructive and downright rude, leaders should nonetheless never reject feedback.

In fact, they should solicit them by asking action-driven questions like “what should I stop/start doing?”

As one writer said, “Feedback is like sex. Everyone does it, but only a few do it well.”

This begins with the pronouncement of Public Works Secretary Mark Villar that traffic congestion in Metro Manila—especially in Edsa—will improve by 20 percent to 30 percent this first and second quarters, and stretched to 40 percent by next year. Calling it a onetwo punch, Villar said this can be attributed to the completion of the Skyway Stage 3 project of San Miguel Corp. by April, and the Metro Pacific Tollways Corp.’s Nlex Harbor Link Segment 10 extension project that is expected to open by March.

Also of note were the news on the approval by the Neda-ICC in January 2020 of several major infrastructure projects that will soon commence construction, among which are: The Metro Rail Transit 4 running the eastern corridor between Ortigas Center and Taytay, Rizal; the much delayed Edsa Greenways Project; the Bataan-Cavite Interlink Bridge Project; the fourth Cebu-Mactan coastal bypass roads in Cebu; Davao City Coastal Bypass Road; and the Panay-Guimaras-Negros Island Bridges Project, soon to be the country’s longest bridge. All these mega projects are to be initiated within the remaining term of President Duterte, with their operability being targeted within his term, as well.

It will definitely be an active year.

There will be a lot of traffic concerns,

such as the ones of Angkas that will hopefully be resolved, while new ones will definitely crop up. There will be a lot of projects that will be completed and many will also be started—the new rail projects, many repairs, rehabilitations of our rail systems, the new airports and seaports, the many traffic management systems, as well as the other numerous projects of the Department of Transportation, the Department of Public Works and Highways, and the Metropolitan Manila Development Authority. The PUVM will be in its third year and the MVIS—the roadworthiness testing of the Land Transportation Office—will break ground this quarter.

But it is good that we see much activity—whether good now or good in the long term, as we hit the beginning of the year. This indicates that we are not stagnant or caught trapped in our traffic and transport dilemma.

So, let us fasten our seat belts. It will still be a bumpy and slow ride, but we are definitely getting to a better traffic and transport place in our lives.

looking to slim down the “working royals” to their core essentials, there’s logic in Harry getting on the front foot (even if his seizing the initiative might have infuriated his father, who would probably have preferred a gentler decoupling, if it were to happen at all).

But Harry is 35 years old, and has been raised to be a prince. Though he’s a graduate of the Royal Military Academy Sandhurst, and a qualified helicopter pilot, he doesn’t have so much as an undergraduate degree.

That makes a transition to a normal civilian existence that could sustain his current quality of life tricky. The couple’s yearly security costs alone probably stretch into the millions of pounds.

Prior to the pair’s marriage, Markle did of course have a successful acting career, with some estimates that she made more than $400,000 per season as a cast member on the TV series Suits. Perhaps she’ll resume that path; if so, her box-office clout will have been hugely augmented by her royalty.

Prince Charles also has a decision to make. The couple says 95 percent of their funding comes from the Duchy of Cornwall—the property and financial portfolio controlled by Harry’s father—money that pays for their public duties, as well as some private costs. Unless that’s stopped, it would hardly be an example of Harry’s sought for financial freedom.

For questions and comments, please e-mail me at sbmison@gmail.com.

Thomas Tim Orbos was former DOTr undersecretary for roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

A12 Monday, January 13, 2020

Line veto sought on ‘sin’ tax bill’s curbs on govt powers

F

By Bernadette D. Nicolas

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III wants President Duterte to veto a line in the bill increasing excise tax on alcohol and e-cigarettes, particularly preventing the government from conducting a raid without a court order.

Dominguez said he has already sent a memorandum to the President expressing his opposition to the inserted line in the bill right after the

measure was passed in December.

The finance official said the President has until January 24 to sign into law the measure, or else

“That’s allowed by the law. Why will you remove that? That’s how you catch these guys.”—Dominguez

it will already lapse into law.

“But I want him to take out one line there. There is a line there that we cannot raid without the court order. Hindi pwede ’yan [That cannot be],” he told reporters in an event in Department of Finance last Friday.

“That’s allowed by the law. Why will you remove that? That’s how you catch these guys,” he added.

He said the specific line was inserted by the House of Representatives. “We cannot investigate without court order, pwede ba ’yun [is that right]? Let’s say, [their inventory is wrong]? Hindi pwede ’yun [that cannot be],” he said.

Since the excise tax hike bill on liquor and e-cigarettes is a tax measure, the Constitution allows the President to exercise his line-item veto power.

Asked why was the line inserted in the bill even if it is unlawful in the first place, Dominguez said: “It’s unlawful now but they’re the ones who make the law, [so then] it will be lawful. Hindi pwede ’yun [That cannot be].”

See “‘Sin’ tax,” A2

Diesel, kerosene prices going down on Tuesday

By Lenie Lectura

O

@llectura

IL firms announced on Sunday a price rollback in diesel and kerosene starting Tuesday morning.

In separate advisories, oil companies said they will implement a P0.20 per liter price reduction in diesel and

P0.30 per liter in kerosene.

The price adjustment of Pilipinas Shell, Seaoil Philippines and Petro Gazz takes effect 6 a.m. of January 14.

Other oil firms are expected to announce the same price adjustments on Monday.

This is the second price adjustment for the year. Oil firms adjust

local pump prices every Tuesday to reflect movements in the world oil market.

Last week, diesel prices went up

by P0.40 per liter. Kerosene prices also went up by P0.10 per liter.

Gasoline prices went down by P0.10 per liter.

Oil firms are required to maintain a minimum inventory level

of in-country stocks: 30 days for oil refiners, 15 days for bulk suppliers, and seven days for LPG players.

The crude oil needs to be refined, which will result in the finished product. Thereafter, this will be sent to various service stations before the finished product is sold to consumers.

External trade. . .

Continued from A1

NORTHEAST MONSOON AFFECTING LUZON LOW PRESSURE AREA (LPA 655 KM EAST OF HINATUAN, SURIGAO DEL SUR as of 4:00 am - January 12, 2020

However, the Philippines has increased its inward shipments of petroleum oil from other territories, particularly, South Korea, Malaysia, and Russia. “.... The structure and pattern of imports of crude petroleum to the Philippines indicate that the country has diversified its source of crude petroleum in recent years, such that the level of vulnerability to supply shocks has been slightly reduced,” Pernia said.

In its sectoral plans and road maps, the Department of Energy identified a number of initiatives toward increasing the country’s energy resources.

These include geothermal, hydro, solar and wind, among others, which will substantially lessen the country’s dependence on petroleum.

Pernia added that on top of these initiatives on energy sources, the government should also continue developing industries and encouraging investments in key sectors to provide more employment opportunities for Filipinos.

“In the long term, strengthening the capability of the country to provide alternative fuels and tapping new and advanced energy technologies are effective steps to diversify and manage the country’s utilization of energy sources, as well as insulate the domestic economy from potential supply shocks that would have far-reaching ramifications,” said Pernia.

Pernia said support must also be extended to entrepreneurs to provide better and quality jobs that will entice professionals based abroad to relocate to the country even in the absence of conflict.

External trade

The country’s top export was still electronic products with total earnings worth $3.28 billion.

This amount, which accounted for 58.6 percent of the total exports in November 2019, went up by 1.4 percent from the $3.24 billion export receipt in November 2018.

Import bills of electronic products reached $2.44 billion, contributing the highest share of 27.3 percent to the total imports. Import of this commodity group declined by 5.8 percent, from $2.59 billion in November 2018.

The country’s top export market is Japan which accounted for 16.6 percent worth $930.79 million in November 2019. Exports to Japan grew by 4.9 percent, from $887.32 million in November 2018.

Other major export trading partners were the United States with export value of $890.06 million; Hong Kong, $776.57 million; People’s Republic of China, $696.48 million; and Singapore, $321.52 million.

PHL RICE STOCKPILE AT HIGHEST LEVEL IN 2.5 YEARS DUE TO IMPORTS

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

he country’s total rice inventory as of December 2019 rose by 14 percent to over 3 million metric tons (MMT), the highest in more than two-years-and-a-half, the Philippine Statistics Authority (PSA) said in a report.

In its monthly inventory report, the PSA said total rice stockpile as of December 1, 2019 reached 3.098 MMT, the highest in the past 31 months or since the 3.214 MMT recorded in May 2017.

“It increased by 14 percent and 4.6 percent compared with the previous year’s level of 2.718 [million] metric tons and previous month’s level of 2.962 [million] metric tons, respectively,” the PSA said in its report published recently.

Industry players, experts and government officials have attributed the higher rice inventory to the increase in imports after Republic Act 11203, which took effect in March 2019, relaxed rules on importing the staple.

The Department of Agriculture (DA) earlier said the country ended 2019 with a rice stockpile sufficient for 100 days, or at least 3.2 MMT, based on the BusinessMirror’s computations.

“Rice is available in the warehouses of importers, plus farmers, plus households,” said the DA. In its report, the PSA said more than half or about 51.9 percent of the country’s rice inventory were held by households, while 32.6 percent and 15.5 percent were in commercial warehouses and National Food Authority (NFA) depositories, respectively.

Rice stockpile held by households expanded by 5.3 percent to a two-year high of 1.607 MMT from its 2018 level of 1.527 MMT. Stocks in commercial warehouses reached 1.009 MMT while those in NFA warehouses reached 480,660 MT. “A surge of 370.6 percent was noted in NFA depositories.

On the other hand, a decrease of 7.3 percent was observed in commercial warehouses,” the PSA said.

“Month on month, r ice stocks inventory in all sectors increased. Increases of 5.3 percent, 2.9 percent, and 5.9 percent were noted in the households, commercial warehouses, and NFA depositories, respectively,” it added.

In the same report, the PSA said the country’s total corn inventor y as of December 1, 2019 rose 26.2 percent to 794,870 MT from 629,910 MT recorded in the same period in 2018.

However, the volume was 33.7 percent lower than the 1.198 MMT recorded in November 1, 2019, the PSA added.

Of the total corn inventory, 77.1 percent or about 612,590 MT were held by commercial warehouses while the remaining volume of 182,280 MT was in households, according to the PSA. “With reference to the previous year’s level, stocks in both households and commercial warehouses increased respectively by 89.7 percent and 14.8 percent,” it said.

“Compared with previous month’s level, a decrease of 18.1 percent and 37.2 percent was recorded in the household and commercial warehouses, respectively,” the PSA added.

DOJ moving to tighten visa-upon-arrival rules for Chinese nationals

T

HE Department of Justice (DOJ) is set to issue a circular imposing stricter rules on the issuance of visa-upon-arrival (VUA) to Chinese nationals.

Undersecretary Mark Perete, the department’s spokesman, said the circular—aimed at curbing the deluge of Chinese nationals illegally working and overstaying in the country—will be issued in the next few days.

The circular would require Chinese tourists to present their round-trip tickets showing the length of their stay and the date of their departure from the Philippines before they are issued a VUA. Likewise, tourists have to reveal their itinerary while they are in the country and show proof that they have booked accommodations, such as presenting hotel’s billing receipts.

This would cover Chinese visitors, businessmen who would be staying for short durations in the Philippines, athletes and delegates to international conferences.

Once published, the VUA amendments would take effect immediately and not 15 days after publication, Perete said.

“Aside from the round-trip ticket, if they are coming in as tourists they must have booked accommodations for every stop in their itin-

erary. The tour operator must be, of course, accredited. The tour operator must provide all the details where they will be staying, proof of accommodations,” he added.

The DOJ official also said Chinese nationals who are VUA holders are not allowed to convert the of their visa.

“We want to make sure that the Visa Upon Arrival facility would not be abused.... We just put in more restrictions specifically because of complaints that many are using that facility to obtain employment in the Philippines,” he explained.

The Philippine government came up with stricter VUA rules due to the deluge of Chinese nationals in the country, mostly working in Philippine Offshore Gaming Operators (Pogo) establishments, and many without working permits.

“Some have used that facility to obtain employment, later on whether it is Pogo or any other kind of employment,” Perete said. There had been complaints that “some would get a Visa Upon Arrival and then convert it into another visa and then get more permits to be employed in Pogo, or any other businesses.”

The DOJ is looking to include other nationals to be covered by the stricter VUA rules. Joel R. San Juan

www.businessmirror.com.ph

Companies BusinessMirror

PSE STOCK QUOTATIONS

January 10, 2020

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BDO LEASING COL FINANCIAL FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

52 152.9 86.35 25 6.21 11.86 66.15 12.2 20.1 33.85 57.1 22.75 186 58.05 2.11 18.06 3.82 6.81 1.18 0.355 860 0.81 175 1855 1.05

54 153 86.5 25.05 8.49 11.94 67 12.4 20.8 34.05 58.25 23.45 186.9 58.15 2.12 18.48 3.87 7.18 1.21 0.36 870 0.82 177 1859 1.07

53.75 152.8 85 25 6.22 11.96 65.9 12.02 20.45 34.95 57.4 22.75 187 58.05 2.05 18.48 3.8 7 1.18 0.345 850 0.78 175 1855 1.08

53.75 154.5 87 25.05 8.48 11.98 67 12.2 20.45 34.95 57.4 22.75 188 58.65 2.11 18.48 3.82 7 1.2 0.36 860 0.83 175 1855 1.08

53.75 151 85 24.8 6.22 11.86 65.35 12.02 20 33.7 57.05 22.75 185 58.05 2 18.48 3.8 7 1.18 0.345 850 0.78 175 1855 1.07

53.75 153 86.5 25 8.48 11.86 67 12.2 20 33.85 57.1 22.75 186 58.1 2.11 18.48 3.82 7 1.2 0.36 860 0.82 175 1855 1.07

2000 1865900 1373480 210900 400 220900 983510 25000 20000 496300 1180 20300 548660 17600 37000 200 15000 20000 42000 140000 210 46000 280 30 63000

107500 284486903 118622089.5 5236485 2940 2633192 65424719.5 304100 406910 16,865,145( 67467.5 461825 101913996 1027593.5 76710 3696 57220 140000 50310 49600 179800 37500 49000 55650 67930

INDUSTRIAL

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

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

-30074147 -12600570 5000 -1200944 36498748 9,373,370.0001) -327600 -38059498 -394387.5 -

2.34 1.31 34.1 0.241 22.35 66.05 305 10.18 4.04 11.7 33.4 8.77 12.52 3.06 15.24 5.01 9.11 7.22 79.5 0.55 1.44 38 205 6.65 11.36 0.157 1.92 9.3 2.08 5.26 1.76 0.119 140.3 1.24 67 1.67 14.02 9.03 13.8 14.82 9.7 0.94 165.6 2.16 1.6 3.14 4.71 30.5 2.02 8.03 1.27 5 0.99 7.49

2.35 1.32 34.25 0.245 22.45 66.75 308 10.2 4.06 11.98 33.5 8.8 12.98 3.08 15.3 5.2 9.2 7.23 79.95 0.56 1.45 38.2 206.6 6.8 11.4 0.17 1.94 9.45 2.09 5.3 1.79 0.123 142 1.25 70.95 1.68 14.3 9.07 13.9 14.88 10 0.95 173 2.18 1.69 3.43 4.79 32.3 2.03 8.1 1.3 5.39 1.01 7.55

2.41 1.23 34.4 0.245 22.35 67.95 303.6 10.54 4.11 11.7 33.6 8.88 13 3.12 15.48 5.3 9.1 7.24 80 0.56 1.47 38 208 6.5 11.48 0.17 1.92 9.27 2.1 5.28 1.76 0.118 142.5 1.17 72.85 1.73 14.1 9.1 13.8 15.3 9.85 0.92 165.5 2.12 1.59 3.44 4.84 32 1.93 8 1.28 5.38 0.99 7.5

2.42 1.37 34.4 0.245 22.85 67.95 308 10.6 4.11 11.98 33.6 8.88 13 3.23 15.48 5.3 9.21 7.24 80.5 0.56 1.49 38 211 7 11.5 0.17 1.93 9.6 2.18 5.3 1.76 0.12 143 1.25 72.85 1.79 14.1 9.1 13.9 15.4 10 0.98 165.5 2.16 1.59 3.44 4.84 32.4 2.03 8.25 1.3 5.38 1.02 7.9

2.35 1.22 34 0.241 22.2 66 301 10.06 4.02 11.7 32.8 8.75 12.5 3.06 15.1 5.01 9.05 7.21 79.45 0.55 1.43 37 203.8 6.5 11.3 0.17 1.92 9.22 2.08 5.24 1.76 0.118 139.1 1.17 71 1.68 14 9.01 13.8 14.82 9.85 0.92 165.5 2.12 1.59 3.2 4.7 32 1.93 8 1.25 5.38 0.98 7.32

2.35 1.32 34.25 0.245 22.35 66.05 308 10.2 4.04 11.98 33.4 8.8 12.98 3.06 15.24 5.2 9.2 7.22 79.5 0.56 1.45 38 206.6 6.8 11.36 0.17 1.92 9.3 2.09 5.28 1.76 0.12 140.3 1.25 71 1.68 14.02 9.07 13.9 14.82 10 0.95 165.5 2.16 1.59 3.4 4.7 32.4 2.02 8.1 1.3 5.38 0.98 7.49

1749000 4114000 1265600 170000 1375500 195640 173080 7869000 1382000 34000 173000 318100 1028700 3788000 117200 10900 1040700 793400 140750 669000 20963000 12600 304320 72700 12400 150000 3691000 278900 632000 19000 6000 420000 1588100 19333000 290 18975000 514600 672100 35100 514500 3700 1669000 100 126000 2000 6000 350000 1500 23008000 445400 287000 2000 205000 14438200

4147530 5385720 43306545 41280 30915970 12,937,717.5( 52674228 80451732 5597710 405052 5757945 2800236 12965158 11840050 1795140 57049 9514213 5728322 11233840.5 371320 30546090 476235 62671880 486759 141184 25500 7109750 2600237 1343690 100008 10560 50160 222980923 23828650 20608.5 32617840 7234352 6092295 485880 7671466 36460 1593760 16550 271090 3180 19940 1659400 48445 46036990 3590321 361430 10760 203730 109971596

-751150 -1410100 -19138960 -7069155 1,048,172.4999) -7261176 -4669236 -921110 -17864 387740 -25636 -7344600 -501760 436214 4454292 -972461 1024106.5 5500 167310 24130 -14294550 -34124 -27292 -25500 -2395860 -1050650 -44278 -12000 -102936409 25050 -623980 -6887952 -6036321 54500 -4555076 -547200 -2853590 -1124586 9900 342068

0.91 11.78 794 51.65 11.16 2.91 0.67 0.91 0.93 6.55 7.06 13 795 5.1 77.05 6.06 0.485 3.83 11.4 0.6 3.7 4.68 1.18 2.75 188 1067 158.4 0.77 2 203 0.203 0.198

0.92 11.8 795 52 11.18 2.92 0.69 0.93 0.95 6.59 7.07 13.16 805 5.46 77.45 6.6 0.5 3.85 11.58 0.61 3.74 4.7 1.24 2.97 193 1079 158.5 0.79 2.35 213.4 0.217 0.202

0.97 11.48 791.5 51.8 11.26 2.95 0.69 0.89 0.92 6.57 7.06 13.3 819 5.47 79.05 6.07 0.5 3.86 11.96 0.59 3.77 4.24 1.24 2.73 185 1067 160 0.77 2.21 202.6 0.202 0.202

0.97 12.52 795 52 11.26 2.99 0.7 0.93 0.95 6.6 7.15 13.4 824.5 5.47 79.05 6.64 0.5 3.86 11.96 0.64 3.77 4.88 1.24 2.98 194 1080 161.5 0.79 2.21 213.8 0.203 0.202

0.91 11.38 785.5 51.55 11.04 2.92 0.67 0.89 0.92 6.53 6.97 13 795 5.47 76.95 6.07 0.49 3.82 11.4 0.59 3.65 4.21 1.18 2.73 185 1060 158.5 0.75 2.2 202.6 0.202 0.195

0.92 11.8 795 52 11.18 2.92 0.69 0.93 0.95 6.59 7.07 13.16 795 5.47 77.05 6.64 0.5 3.83 11.4 0.6 3.74 4.7 1.24 2.73 192 1079 158.5 0.79 2.2 213.8 0.203 0.198

69502000 86000 140940 569830 2530000 681000 508000 829000 158000 215500 8242200 128800 367740 900 2242160 21500 30000 1097000 1550000 1131000 26681000 127000 222000 12000 700 1053270 339660 110000 10000 20 70000 330000

65966780 1018626 111573225 29554767 28193546 2011690 341150 758000 147480 1412707 58203995 1683180 294550445 4923 173330200 140185 14765 4204070 18094714 686740 99100240 585870 265740 33010 130750 1119413710 54029983 84820 22010 4164 14200 66080

1106130 -20 -13451810 1350488 -11836038 -27740 93880 -566393 -10587513 -158234815 -14345947 -959080 3128566 -16332290 848550765 -2858775 15200 -

PROPERTY ARTHALAND CORP 0.81 0.82 0.84 0.84 0.8 0.82 1234000 1003560 8100 8.8 9.1 8.8 8.8 8.8 8.8 200 1760 1760 ANCHOR LAND 44.3 44.35 45 45.05 44.1 44.35 8807500 390873035 -113339125 AYALA LAND 1.99 2 2 2 1.99 1.99 107000 213530 -98000 BELLE CORP 0.73 0.74 0.72 0.74 0.72 0.74 972000 707650 A BROWN CITYLAND DEVT 0.82 0.85 0.83 0.85 0.82 0.82 50000 41430 0.184 0.188 0.184 0.184 0.184 0.184 10000 1840 CROWN EQUITIES 6.4 6.7 6.8 6.8 6.2 6.7 59800 384635 CEBU HLDG 4.75 4.76 4.79 4.8 4.76 4.76 98000 468670 38020 CEB LANDMASTERS CENTURY PROP 0.54 0.56 0.53 0.56 0.53 0.56 31636000 17375680 -1209180 0.4 0.41 0.405 0.41 0.4 0.41 260000 104600 CYBER BAY 18.4 18.6 18.42 19.2 18.26 18.4 872900 16253920 -3737676 DOUBLEDRAGON 9.22 9.28 9.41 9.41 9.22 9.22 163500 1522535 -1065155 DM WENCESLAO 0.42 0.425 0.42 0.42 0.42 0.42 40000 16800 EMPIRE EAST 1.52 1.53 1.53 1.55 1.52 1.53 13667000 20918770 -11720180 FILINVEST LAND GLOBAL ESTATE 1.15 1.17 1.17 1.17 1.17 1.17 28000 32760 14.72 14.8 14.76 14.8 14.7 14.7 444400 6548130 -247152 8990 HLDG PHIL INFRADEV 1.19 1.2 1.17 1.2 1.16 1.2 1524000 1819950 -934800 MEGAWORLD 4.24 4.25 4.27 4.27 4.21 4.25 14405000 61023740 -20028550 MRC ALLIED 0.229 0.23 0.214 0.236 0.211 0.23 85940000 19677920 -189650 0.415 0.42 0.415 0.42 0.415 0.415 70000 29150 PHIL ESTATES 2.15 2.16 2.19 2.19 2.13 2.16 269000 578790 PRIMEX CORP 27.15 27.3 27.5 27.5 26.85 27.15 3091500 83619285 -60124225 ROBINSONS LAND 0.315 0.32 0.31 0.31 0.31 0.31 10000 3100 PHIL REALTY 2.09 2.14 2.1 2.14 2.09 2.09 44000 93270 ROCKWELL 3.16 3.24 3.25 3.25 3.24 3.24 5000 16210 SHANG PROP STA LUCIA LAND 2.38 2.46 2.36 2.47 2.34 2.47 2270000 5351270 247800 SM PRIME HLDG 41.9 42 42 42.4 41.65 42 16715800 700334770 373755490 VISTAMALLS 5.64 5.84 5.7 5.84 5.7 5.84 149300 865766 1.65 1.66 1.6 1.7 1.54 1.65 26732000 43383320 449700 SUNTRUST HOME VISTA LAND 7.5 7.53 7.46 7.54 7.46 7.53 10273200 77339886 -25107777

SERVICES ABS CBN 18.24 18.5 19.4 19.4 18.5 18.5 124200 2317762 5.44 5.45 5.45 5.5 5.45 5.45 56200 306979 GMA NETWORK 1979 1980 2030 2030 1980 1980 119775 239202075 -12111250 GLOBE TELECOM 1089 1090 1090 1092 1072 1090 85995 93467380 1219595 PLDT 0.044 0.046 0.046 0.046 0.046 0.046 4200000 193200 APOLLO GLOBAL DFNN INC 4.71 5 4.71 5 4.71 5 2500 12355 0.101 0.102 0.103 0.103 0.102 0.102 290000 29770 ISLAND INFO 3.73 3.74 3.75 3.78 3.7 3.73 1678000 6269160 -101670 ISM COMM NOW CORP 2.48 2.5 2.43 2.53 2.42 2.48 1102000 2739260 15360 TRANSPACIFIC BR 0.28 0.285 0.27 0.29 0.255 0.28 23630000 6538200 105000 2.57 2.58 2.52 2.7 2.52 2.58 645000 1685330 -2650 PHILWEB 9.62 9.65 9.62 9.8 9.62 9.65 6900 66918 2GO GROUP 16.28 18.6 18.3 18.5 18.3 18.5 10600 195580 195580 ASIAN TERMINALS 5.32 5.33 5.25 5.38 5.25 5.32 419100 2224286 -28540 CHELSEA 86.55 86.7 87.3 87.5 86.55 86.55 214280 18631341 -6992451 CEBU AIR INTL CONTAINER 132.5 133 135 135 131.3 132.5 1380950 182883342 20715321 LBC EXPRESS 12.32 13.94 13.96 13.98 13.92 13.94 3300 46110 14.16 14.18 15.1 15.12 14.12 14.18 2407100 34877038 -16547980 MACROASIA PAL HLDG 7.5 7.8 7.8 7.8 7.5 7.5 4900 37830 1.33 1.34 1.35 1.4 1.33 1.34 3808000 5179140 146600 HARBOR STAR 1.35 1.42 1.36 1.36 1.35 1.35 16000 21650 ACESITE HOTEL 1.84 2.01 1.8 2.01 1.8 2.01 2000 3810 DISCOVERY WORLD 9.53 11.78 10.4 11.98 10.4 11.98 4300 46570 GRAND PLAZA 0.61 0.62 0.62 0.63 0.61 0.62 405000 251020 WATERFRONT 0.61 0.62 0.61 0.63 0.6 0.61 1963000 1199020 -948540 STI HLDG 3.26 3.32 3.26 3.37 3.26 3.26 583000 1926410 BERJAYA BLOOMBERRY 10.52 10.6 10.4 10.78 10.4 10.6 3477300 36786384 -8934218 PACIFIC ONLINE 2.4 2.43 2.4 2.4 2.4 2.4 40000 96000 -24000 LEISURE AND RES 2.43 2.54 2.58 2.58 2.42 2.47 142000 353530 -173490 MANILA JOCKEY 3.22 3.23 3.24 3.24 3.23 3.23 108000 349260 0.58 0.59 0.58 0.6 0.58 0.59 4359000 2,581,440( 1,644,689.9997) PREMIUM LEISURE 11.5 11.52 11.58 11.6 11.5 11.52 1331900 15348010 -4682506 ALLHOME 2.12 2.13 2.11 2.15 2.11 2.12 818000 1736240 -1084290 METRO RETAIL 39.7 39.8 40.2 40.2 39.7 39.7 250500 9976380 -1887675 PUREGOLD 78.6 79.5 79.1 79.5 79 79.5 384820 30569916 22473917.4999 ROBINSONS RTL 140 143 140 140 133 140 1069830 149766686 -200550 PHIL SEVEN CORP SSI GROUP 2.66 2.67 2.64 2.68 2.63 2.66 3548000 9415990 4505310 WILCON DEPOT 18.2 18.3 18.46 18.48 17.98 18.2 1100800 20056454 110616 APC GROUP 0.405 0.41 0.405 0.405 0.4 0.405 800000 321250 -200000 EASYCALL 8.75 8.82 8.4 8.85 8.4 8.75 8400 72203 7.3 8 7.8 7.8 7.3 7.3 4000 30200 14600 IPM HLDG 0.34 0.345 0.35 0.355 0.34 0.34 6260000 2157500 -3500 PRMIERE HORIZON 9.08 9.26 9.12 9.43 9.08 9.08 49300 449841 SBS PHIL CORP

MINING & OIL ATOK 10.1 10.9 10.94 10.94 10.9 10.9 1000 10904 1.07 1.09 1.08 1.09 1.06 1.09 468000 503790 -27250 APEX MINING 0.0014 0.0015 0.0015 0.0015 0.0014 0.0014 379000000 562700 ABRA MINING 2.41 2.5 2.5 2.5 2.46 2.5 448000 1116280 -1098820 ATLAS MINING 1.16 1.25 1.16 1.16 1.16 1.16 10000 11600 BENGUET A COAL ASIA HLDG 0.27 0.275 0.27 0.27 0.27 0.27 130000 35100 2.96 3 3 3.02 2.95 3 1041000 3102510 72480 CENTURY PEAK DIZON MINES 7.12 7.14 7.28 7.49 7.07 7.13 75900 539512 1.63 1.65 1.69 1.69 1.63 1.63 3350000 5504460 -2003370 FERRONICKEL GEOGRACE 0.197 0.2 0.2 0.203 0.196 0.199 370000 73470 0.098 0.1 0.099 0.101 0.098 0.1 1790000 178280 LEPANTO A 0.0085 0.0088 0.0085 0.0085 0.0085 0.0085 4000000 34000 MANILA MINING A 0.89 0.9 0.86 0.91 0.86 0.9 514000 461550 MARCVENTURES 1 1.02 1.02 1.02 1 1.02 183000 183060 NIHAO 3.11 3.19 3.3 3.3 3.11 3.11 18036000 57465170 -24831680 NICKEL ASIA ORNTL PENINSULA 0.74 0.75 0.72 0.75 0.69 0.75 320000 226490 -23040 PX MINING 3.2 3.24 3.25 3.31 3.18 3.2 634000 2030860 -238390 SEMIRARA MINING 21.95 22 22.1 22.1 21.8 22 379200 8338365 1126570 UNITED PARAGON 0.0055 0.006 0.0055 0.006 0.0055 0.006 4000000 22900 9.57 9.58 10.18 10.18 9.57 9.58 658000 6454408 -30250 ACE ENEXOR 0.011 0.012 0.011 0.011 0.01 0.011 102100000 1057200 ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.011 22200000 239400 PHILODRILL 10.2 10.22 10.32 10.7 10.2 10.22 1896300 19600808 -1605156 PXP ENERGY

PREFFERED

HOUSE PREF A 99 99.75 99 99.75 99 99.75 25010 2475997.5 499.2 500 501 507 501 501 10720 5370780 AC PREF B1 500 505 500 500 500 500 30 15000 -10000 AC PREF B2R 100.8 101 102 102 100 100 34350 3477603 -1062425 CPG PREF A 100.5 101 100.8 100.8 100.5 100.5 25800 2593452 DD PREF SMC FB PREF 2 995 1000 998.5 999 995 995 4540 4529000 107.9 110.7 104.1 104.1 103.7 103.7 970 100680 FGEN PREF G 502 505 505 505 505 505 50 25250 GLO PREF P 950 990 989 990 989 990 500 494990 GTCAP PREF A 100.7 102.8 101 101 101 101 8960 904960 MWIDE PREF 1027 1029 1027 1030 1027 1029 685 705100 PNX PREF 4 1028 1050 1027 1050 1026 1050 3790 3950645 PCOR PREF 3A 1046 1050 1043 1050 1043 1050 1070 1123070 PCOR PREF 3B 1.36 1.73 1.36 1.36 1.36 1.36 4000 5440 SFI PREF 76.75 76.8 77.05 77.05 76.75 76.8 32640 2507211.5 SMC PREF 2C SMC PREF 2D 75 75.2 75 75 75 75 2700 202500 74.9 76 74.95 74.95 74.9 74.9 430 32212.5 -32212.5 SMC PREF 2E SMC PREF 2F 76 76.7 76.5 76.8 76.5 76.5 37100 2838750 75.2 75.95 75.3 75.3 75.1 75.1 14200 1068420 SMC PREF 2G 75.1 76.5 75.1 76.5 75.1 76.5 22800 1712874 SMC PREF 2H 75.4 75.95 76 76 76 76 30 2280 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

17.22

17.88

18.5

18.5

17.06

17.9

120200

2152956

WARRANTS LR WARRANT

1.26

-133052.0001

1.32

1.26

1.26

1.25

1.25

36000

45240

-

ITALPINAS 4 10.32 KEPWEALTH 0.87 XURPAS

4.02 10.34 0.88

4.06 10.2 0.82

4.2 10.38 0.88

4 10.04 0.81

4.02 10.34 0.87

335000 167700 8997000

1362430 1722342 7688440

-2060 -30000

FIRST METRO ETF

116.3

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 116.1

116.3

116.3

115.8

116.3

2240

260096

17400

Monday, January 13, 2020

B1

CPG to allocate ₧30-B capex for 3-yr expansion

P

By VG Cabuag

@villygc

ROPERTY developer Century Properties Group (CPG) Inc. is allocating some P30 billion in capital expenditures for the next three years to expand its business of now mainly affordable horizontal housing projects, office leasing and condominium operations.

CPG President and CEO Marco R. Antonio said capex, for which it plans to spend an average of P10 billion a year, will be funded by credit facilities from the banks, and fund-raising from the capital and bond markets.

The firm listed its preferred shares last Friday, raising some P3 billion from the issuance.

“With the acceptance of the bond and equity markets, we would like to take advantage of the atmosphere. At the opportune time, if the investors continue to support us, we hope to go back to the market,” Antonio said.

“As interest rates continue to come down, our cost of borrowings are also coming down,” he added.

CPG, which has concentrated its efforts on horizontal development

after it is running out of vertical projects to build, is currently planning a mixed-use development for a significant size of land in Novaliches, Antonio said.

“We are launching a new brand in terms of our condos that’s going to be, instead of high rise, it will be mid-rises, and that’s going to be in multiple locations,” Antonio said.

“If there is a backlog of 6 million outside Metro Manila, there is actually a backlog of a million within Metro Manila for value-oriented affordable condos with a price point of around P3 million to P5 million.

That’s going to be an exciting new chapter for Century,” he added.

CPG aims to change its revenue mix by increasing the share of its

STOCK-MARKET OUTLOOK Last week

SHARE prices closed lower last week as the escalation of tensions in the Middle East rattled many markets in the region, including those of the Philippines.

The benchmark Philippine Stock Exchange Index (PSEi) fell 63.02 points to close the first full week of trading of the year at 7,776.77 points.

The main index was down for the three of the five trading days as foreign investors dumped local shares, ending the week at a net sell of P1.24 billion.

Average daily trading for the week was at P4.99 billion.

Analysts said losses of the local market were trimmed after the signing of the 2020 national budget, as well as the release of the 2019 inflation figure of 2.5 percent, which is within the Central Bank’s target.

Most of the subindices were down, led by the broader All Shares index that fell 50.37 points to 4,605.17 points. The Financials index was down 16.96 to 1,827.52, the Industrial index plunged 319.66 to 9,364.48, the Holding Firms index managed to eke out gains of 3.73 to 7,635.45, the Property index declined 61.33 to 4,112.34, the Services index rose 8.39 to 1,555.66, and the Mining and Oil index was up 86.88 to 8,107.64.

Losers edged gainers 118 to 102, and 28 shares were unchanged.

Top gainers for the week were Cirtek Holdings Philippines Corp., Suntrust Home Developers Inc., LBC Express Holdings Inc., Harbor Star Shipping Services Inc., Manila Mining Corp. B and Benguet Corp. B. Top losers, on the other hand, were Macro Asia Corp., Philippine Trust Co., Cemex Holdings Philippines Inc., Berjaya Philippines Inc., Marcventures Holdings Inc. and GT Capital Holdings Inc.

This week

Share prices may still be down this week as the Middle East tensions prompt investors to take their money out of the market and put it instead in save havens, such as gold and other precious metals.

“Tensions such as these, not unlike the US-China trade ordeal that started in 2018, are not resolved overnight. As such, it will be wise to be reminded that low visibility breeds volatility, and as a reaction, funds’ cash allocation may trump that of riskier assets for now, at least until clearer markers permit deployment,” broker 2TradeAsia said in its research note.

The broker said that with President Duterte’s signing of the P4.1-trillion 2020 budget, it could offer a relief for local investors as this bodes well for public spending. This will be balanced with the elevated inflation rate expectations for the year, which is caused by a very low base in 2019.

It advised investors to monitor buildup on those that performed well over the years as the 2019 financial reporting season nears, which traditionally starts in February through April.

It sees immediate support for the main index at 7,600 and resistance at 7,900 points.

Stock picks

Broker Regina Capital Development Corp. advised investors to take profit on the stock of PLDT Inc. after it barely scratched its new resistance of P1,090 per share even after its rally last week.

“This important level used to be a strong support that kept PLDT afloat just a few months back. At this point, indicators are overheating. Expect a likelier scenario of profittaking,” it said.

It gave a weekly target for the stock at P1,065.

PLDT shares closed Friday at P1,090 apiece.

Meanwhile, it gave a buy during pullbacks on the stock of International Container Terminal Services Inc. (ICTSI) after its technical indicators showed a strong resistance at P135.50, which still offers potential upside for the stock for the next few trading days.

“However, since most indicators are now on the higher bound of their range, ICTSI might tap but fail to breach this upper limit without a change in momentum. But until then, investors can ride the bullishness,” it said. The broker gave a weekly target on the stock at P134 per share.

ICTSI shares closed last week at P132.50 apiece. VG Cabuag

office leasing and affordable housing businesses.

“We’re coming from a [mix of] 85 percent condo and around 10 percent affordable and 5 percent for leasing.

This year we still expect our main revenue drivers to be our condo… but the contribution of affordable housing is accelerating. What was coming from a negligible number like 10 percent to 11 percent, that should further rise to mid-double digits; and then leasing, coming from 5 percent now, should be closer to maybe more than 10 percent this year,” he said.

For condominium units, Antonio said CPG currently has around P26 billion unbooked revenues, and around P16 billion to P18 billion of unsold units.

“That will continue to be a revenue driver,” he said.

For project launches, Antonio added that CPG will launch three

mutual funds

to four affordable housing projects this year.

“In terms of leasing, we continue to be building a couple of buildings, or one to two buildings every year,” he added.

CPG’s preferred share offering is its largest equity capital markets transaction to date, and was twice oversubscribed over the P2-billion base issue size, thereby allowing the company to fully exercise its P1-billion oversubscription option.

“We are very happy with the overwhelming market reception to CPG’s first fund-raising exercise in the equity capital markets since 2011. This is a strong vote of confidence in the direction that the management has taken to drive growth for the company, supported by concrete results so far delivered through our positive financial performance over the past several quarters,” Antonio said.

January 10, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 251.54 -4.7% -0.26% -1.12% -0.59% ATRAM Alpha Opportunity Fund, Inc. -a 1.3489 -9.85% -0.04% -3.7% -2.14% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.5694 -13.37% -4.16% -4.12% -3.41% Climbs Share Capital Equity Investment Fund Corp. -a 0.8846 -5.42% n.a. n.a.

-2.03% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8461 -2.88% n.a. n.a.

-0.82% First Metro Save and Learn Equity Fund,Inc. -a 5.2978 -5.12% 1.19% -1.2% -0.88% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8508 -3.5% -2.43% n.a.

-0.69% MBG Equity Investment Fund, Inc. -a 102.6 -13.04% n.a. n.a.

-0.78% PAMI Equity Index Fund, Inc. -a 51.1428 -1.91% 2.08% n.a.

-0.65% Philam Strategic Growth Fund, Inc. -a 531.25 -1.99% 1.04% -0.75% -0.7% Philequity Alpha One Fund, Inc. -a,d,8 1.0306 n.a. n.a. n.a.

0.42% Philequity Dividend Yield Fund, Inc. -a 1.2847 -2.45% 1.87% 0.27% -0.56% Philequity Fund, Inc. -a 37.7707 -2.27% 2.7% 0.15% -0.73% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0161 -1.8% n.a. n.a.

-0.56% Philequity PSE Index Fund Inc. -a 5.2099 -0.97% 2.64% -0.62% 1.23% Philippine Stock Index Fund Corp. -a 869.8 -1.02% 2.56% 1.16% -0.61% Soldivo Strategic Growth Fund, Inc. -a 0.826 -8.48% -1.06% -2.81% -3.37% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.1806 -2.19% 1.94% 0.26% -1.16% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9983 -1.35% 2.43% n.a.

-0.61% United Fund, Inc. -a 3.6519 -1.33% 3.81% 1.97% -0.52% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 116.6346 -0.66% 3.27% 2.11% -0.6% ATRAM AsiaPlus Equity Fund, Inc. -b $1.0319 10.58% 6.3% 1.03% 0.82% 20.2% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3835 9.58% n.a.

0.9% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5468 -9.32% -3.63% -4.44% -1.28% ATRAM Philippine Balanced Fund, Inc. -a 2.1564 -5.46% -1.95% -1.78% -1.38% First Metro Save and Learn Balanced Fund Inc. -a 2.6145 -1.15% 1.52% -1.49% -0.83% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.229 n.a. n.a. n.a.

-0.56% Grepalife Balanced Fund Corporation -a N.S. N.S. N.S. N.S. N.S. NCM Mutual Fund of the Phils., Inc. -a 1.9586 3.47% 2.27% 0.78% -0.23% PAMI Horizon Fund, Inc. -a 3.7729 5.66% 1.41% -0.1% -0.67% 16.8782 4.05% 1.27% -0.2% -0.72% Philam Fund, Inc. -a Solidaritas Fund, Inc. -a 2.1297 -0.06% 1.15% 0.74% -0.24% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8411 1.59% 1.96% 0.28% -0.86% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0067 n.a. n.a. n.a.

-1.12% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9931 n.a. n.a. n.a.

-0.56% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9901 n.a. n.a. n.a.

-0.56% Sun Life Prosperity Dynamic Fund, Inc. -a 0.9677 1.45% 1.28% -0.88% -1.12% Primarily invested in foreign currency securities $0.03826 8.17% 2.58% 2% 0.24% Cocolife Dollar Fund Builder, Inc. -a PAMI Asia Balanced Fund, Inc. -a $1.032 10.36% 4.8% 1.17% -0.06% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9226 15.12% 7.53% 4.54% 0.72% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1314 10.57% 4.41% n.a.

0.59% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 358.16 4.21% 2.8% 2.29% 0.09% ATRAM Corporate Bond Fund, Inc. -a 1.903 2.68% 0.44% -0.66% 0.08% Cocolife Fixed Income Fund, Inc. -a 3.1188 4.8% 5.14% 5.18% 0.15% Ekklesia Mutual Fund Inc. -a 2.2216 4.24% 2.03% 1.78% -0.09% 2.05% 1.44% -0.44% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3486 6.15% Grepalife Fixed Income Fund Corp. -a P N.S. N.S. N.S. N.S. N.S. Philam Bond Fund, Inc. -a 4.3436 14.34% 2.22% 1.41% -0.65% Philequity Peso Bond Fund, Inc. -a

3.7776 6.71% 2.76% 1.51% 0.02% Soldivo Bond Fund, Inc. -a 0.9589 6.98% 0.99% -0.1% -0.52% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0523 9.73% 4.01% 2.36% -0.74% Sun Life Prosperity GS Fund, Inc. -a

1.6834 8.72% 3.46% 1.71% -1.04% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $468.74 4.43% 2.68% 2.77% 0.15% ALFM Euro Bond Fund, Inc. -a Є219.74 3.52% 1.66% 1.29% 0.01% 6.97% 2.98% 2.59% 0.24% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2092 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 3.61% 1.33% 1.21% n.a.

Grepalife Dollar Bond Fund Corp. -a N.S. N.S. N.S. N.S. N.S. PAMI Global Bond Fund, Inc -a $1.0969 5.82% 1.26% -0.54% 0.36% Philam Dollar Bond Fund, Inc. -a $2.4068 10.03% 3.2% 2.86% 0.2% Philequity Dollar Income Fund Inc. -a $0.0603656 5.87% 2.24% 1.96% 0.03% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1776 10.48% 2.55% 2.6% 0.19% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.9 4.06% 2.19% 0.1% 2.87% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.029 n.a. n.a. n.a.

-0.09% Philam Managed Income Fund, Inc. -a 1.2495 6.24% 2.89% 1.59% -0.54% Sun Life Prosperity Money Market Fund, Inc. -a 1.2656 3.73% 2.9% 2.38% 0.12% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0377 2.09% n.a. n.a.

0.06% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $1 n.a. n.a. n.a.

1.01% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

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

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

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

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

B2

Monday, January 13, 2020

Companies BusinessMirror

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Dito Telecommunity, LMP deal will bring fiber connectivity to towns

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ITO Telecommunity Corp., the third major telco franchise holder, has signed a deal with the League of Municipalities of the Philippines for it to deploy fiber connectivity to different municipalities in the country.

Narvacan, Ilocos Sur, Mayor Luis “Chavit” Singson, who sits as LMP president, said the deal covers the construction of “a dedicated

nationwide fiber network to directly connect the different municipalities of the country, the public areas of the respective barangays, that includes schools and other key institutions.”

The contract, he explained, will allow municipalities to deliver “fast, upgraded, and, most of all, secure and reliable services to their constituents.”

“We are making ourselves future-ready.

In other developed countries, governments already have their own private networks and, in the Philippines, there have been several attempts, but now with this Dito-supported initiative, and the support of the Department of Information and Communications Technology, and the Office of the President,

our municipalities will be connected real time through its own private network,” Singson said.

Dito Chief Administrative Officer Adel Tamano said this initiative expands the free Wi-fi program of the national government.

“The effort significantly affords Filipinos, even in the smallest of municipalities, the

advanced applications that can be driven through the private network, such as direct video for conferencing or security, public broadcast exchange, e-Education, e-Medicine, e-Permits, Internet of Things, IP PBX, VoIP; among other things, to better live up to the promise of delivering the kind of connectedness and community that Filipinos

long for,” he said.

LMP officers have committed to ensure ease of doing business in their respective municipalities to drive the extensive Dito rollout.

“In exchange, Dito will enable better collaboration and communication in the future through connectivity for all,” Tamano said. Lorenz S. Marasigan

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The World BusinessMirror

Iraq could risk dollar access, oil marketing if it kicks out US troops

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RAQ’S government could lose access to its dollar account at the Federal Reserve if the Trump administration imposes sanctions, as President Donald J. Trump has threatened, said Majida Al-Tamimi, a lawmaker on the Iraqi parliament’s financial committee.

Tamimi on Saturday cited information discussed at a meeting with Iraq’s central bank governor and financial officials. The US could exert its influence on certain companies to press for a boycott or to halt activities with companies marketing Iraqi oil, she added. Iraq is Opec’s No. 2 oil producer.

Iraq’s parliament passed on January 5 a nonbinding resolution that empowered the nation’s government to ask the foreign troops to leave the country, a measure aimed at the US military.

Hours later Trump threatened sanctions on Iraq, an ally, if American troops are forced out.

“If they do ask us to leave, if we don’t do it in a very friendly basis, we will charge them sanctions like they’ve never seen before ever,” Trump told reporters. “It’ll make Iranian sanctions look somewhat tame.”

Since then, the Trump administration has refused to recognize

Baghdad’s call to start negotiations on troop withdrawals.

The US State Department warned Iraq this week that it risks losing access to a government bank account at the New York Federal Reserve Bank if American forces are kicked out, Dow Jones reported on Saturday, citing Iraqi officials.

Officials with the State Department didn’t respond to requests for comment from Bloomberg News.

Federal Reserve Spokesman Michelle Smith declined to comment.

The immediate effect of losing access to the account, which includes revenue from Iraq’s oil sales, would be on the Iraqi dinar, negatively affecting its value versus the US dollar.

Citing documents she’s seen, Tamimi said that if Iraq had to convert its dealings away from the US dollar it could face lengthy negotiations with European banks, for example, to convert to Eurodenominated transactions.

Iraq could be hampered from getting the cash it needs for its commercial purposes if sanctions were imposed by the US and access to its central bank account restricted, and the country’s creditors could also call in Iraqi debts, she said. Bloomberg News

Thousands join Thai rally vs military-backed government

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HOUSANDS of people joined a rally in Thailand to protest against the military-backed government and call for more political freedom, less than a year after a disputed general election.

The demonstrators gathered on Sunday in a Bangkok park for an earlymorning protest jog against the administrationledbyPrimeMinisterPrayuth Chan-Ocha.FormerarmychiefPrayuth seized power in a coup in 2014, headed a junta for five years and returned as premier after the March election.

“We want a true democratic government, not a dictatorship in disguise,” Tanawat Wongchai, a student activist and one of the organizers of the so-called Run Against Dictatorship, said ahead of the event.

Prayuth’s opponents question the fairness of last year’s poll under a military-backed constitution and criticize the royalist establishment’s grip on power. The demonstration, the second notable anti-government rally in a month, evokes memories of Thailand’s history of sometimes destabilizing political protests.

Such turbulence contributed to slower economic growth in Thailand compared with neighbors, such as Indonesia and Vietnam, but the po-

litical tension for now remains lower than during those past episodes of unrest.

While there was no official count of the numbers at Sunday’s fun-run style gathering, a rough tally at the site indicated thousands of people, many wearing T-shirts and bibs made for the event. Organizers earlier said 10,000 had registered, adding parallel events would take place in other Thai cities.

“I’m here to show that we’re fed up,” said Paphatsara Netsang, a Thai who lives in Singapore but flew in for the rally. “Nothing changes. Everything is still the same. There’s no economic improvement.”

A separate rally was held in another Bangkok park as a show of support for Prayuth. He’s downplayed the demonstrations against his ruling coalition as involving a comparatively small number of people. The pro-Prayuth crowd appeared to number in the thousands but was smaller than the anti-government turnout.

“I love Prayuth because he’s taking his job seriously,” said Suphak Rirattanapong, one of those attending.

Suphak left a note for the premier at a well-wishing board that encouraged him to “keep fighting for this country.” Bloomberg News

Harsh storms sweep southern US, Midwest as death toll rises to 11

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OUSTON—Severe storms sweeping across southern portions of the US and up into the Midwest were blamed on Saturday in the deaths of at least 11 people, including two first responders, as high winds, tornadoes and unrelenting rain battered large swaths of the country.

Storm-related fatalities were reported in Texas due to icy weather in Alabama from a deadly tornado and, in Louisiana, where winds were so strong that a trailer home was lifted off its foundation and carried several hundred feet. A man drowned in Oklahoma and the storms even touched the Midwest with at least one death on an icy highway in Iowa.

Hundreds of thousands of people were left without power from Texas to Ohio, parts of highways were closed in Oklahoma and Arkansas due to flooding and hundreds of flights were canceled at Chicago’s international airports.

Arkansas Gov. Asa Hutchinson declared a state of emergency to assist crews working to restore power around the state.

Two first responders were killed and another was critically injured in Lubbock, Texas, on Saturday morning after they were hit by a vehicle while working the scene of a traffic accident in icy conditions, officials said.

Police Officer Nicholas Reyna, 27, who had been with the department for one year, died at the scene. Firefighter Lt. David Hill, 39, was taken to a local hospital where he later died.

Firefighter Matthew Dawson, 30, was hospitalized in critical condition.

Lubbock Police Chief Floyd Mitchell called it an “extremely tragic day” for the city.

“If people would respect road conditions, things like this wouldn’t have to happen,” said Lubbock Fire Chief Shaun Fogerson.

Another person had died in Texas Friday night when a car flipped into a creek in Dallas as severe thunderstorms passed through. Lightning from Friday’s stormy weather was suspected of causing fires that burned two houses but caused no injuries in the North Texas cities of Burleson and Mansfield. AP

Editor: Angel R. Calso • Monday, January 13, 2020 B3

News report: US, China agree to resume semiannual talks

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ASHINGTON—The United States and China have agreed to resume semiannual talks on economic and trade issues, according to a published report. These discussions had been conducted in previous administrations but had been halted by the Trump administration.

The Wall Street Journal reported on Saturday that the resumption of the talks, which were started in the George W. Bush administration and continued in the Obama adminis-

tration, was set to be announced on Wednesday when the Trump administration signs a phase one trade agreement with China in Washington.

The newspaper said that the new talks would be separate from negotiations over a phase two trade deal, which will cover a number of contentious issues involving Chinese policies that the Trump administration contends are unfair trade practices but were not resolved in the phase one negotiations.

Henry Paulson had started the US-China talks when he was Treasury secretary under Bush with top officials from both countries meeting twice a year. The discussions were continued during all eight years of the Obama administration although the talks were reduced to just once a year.

When President Donald J. Trump took office in 2017, his administration halted the discussions, feeling they had failed to achieve significant

results in tackling unfair Chinese trade practices and reducing America’s huge trade deficits with China, the largest with any country.

The Trump administration instead launched more targeted trade negotiations, which ended up triggering a titfor-tat trade war between the world’s two biggest economies. Both countries imposed billions of dollars of tariffs on the other country’s products.

Those tariffs raised uncertainties among businesses, slowed global economic growth and roiled financial markets. Both countries announced a phase one agreement resolving some of the issues between in December as part of a cease-fire in the trade war.

Administration officials said that the details of the phase one deal would be released after the agreement is signed on Wednesday. AP

Taiwan leader meets top US official after her election win

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AIPEI, Taiwan—Fresh from a landslide reelection victory, Taiwan President Tsai Ing-wen met on Sunday with the de facto US ambassador to Taipei, as China warned that countries should stick with recognizing communist-ruled Beijing as the rightful government of “One China,” including Taiwan.

William Brent Christensen, a US diplomat who is director of the American Institute in Taiwan, congratulated Tsai on her victory and she thanked him for his support.

“The Taiwan-US partnership has already grown from a bilateral partnership to a global partnership.

In the future, we will continue to build on the foundation we have created over the past three years to strengthen our cooperation on global issues,” Tsai said, according to a record of the remarks from the US side.

China considers self-governed Taiwan a part of its territory and opposes any official contact with the US as an interference in its domestic affairs. The US does not have formal diplomatic relations with Taiwan but is legally bound to ensure that Taiwan can defend itself against threats.

Tsai has sought closer relations with the US while pushing back against pressure from China, and the Trump administration has reciprocated.

Since separating from China during civil war in 1949, Taiwan has developed its own identity but never declared formal independence. Beijing still claims sovereignty over the island of 23 million people and threatens to use force to seize control if necessary.

In her victory speech after her rival, Han Kuo-yu of the Nationalist Party, conceded defeat, Tsai urged China to resume talks with Taiwan without preconditions while warning against threatening use of force.

“Today I want to once again remind the Beijing authorities that peace, parity, democracy and dialogue are the keys to stability,” Tsai said. “I want the Beijing authorities to know that democratic Taiwan and our democratically elected government will never concede to threats.”

Tsai’s victory is a setback for Chinese President Xi Jinping at a time when Beijing is grappling with an economic slowdown and long-running, sometimes violent anti-government demonstrations in Hong Kong.

After election results were announced late Saturday, Ma Xiaoguang, a spokesman for China’s Taiwan Affairs Office, said China is willing to work with the Taiwanese people to advance the “peaceful reunification of the country.”

But he cautioned that China would firmly protect its territorial

IN this photo released by the Taiwan Presidential Office, William Brent Christensen, director of the American Institute in Taiwan (right) meets with Taiwan President Tsai Ing-wen in the Presidential Office in Taipei, Taiwan. The Taiwanese president sat down with the top American official in Taipei on Sunday, one day after her landslide victory over challenger Han Kuo-yu of the opposition Nationalist Party. TAIWAN PRESIDENTIAL OFFICE VIA AP

integrity and opposes any separatist moves and Taiwan independence, according to the official Xinhua News Agency.

“We hope and believe that the international community will continue adhering to the One China principle, understand and support the just cause of Chinese people to oppose the secessionist activities for ‘Taiwan independence’ and realize national reunification,” said a statement from Chinese Foreign Ministry Spokesman Geng Shuang.

The scale of Tsai’s win is a loss of face for Xi and could raise sensitivity from Beijing toward moves to draw closer to Washington and to strengthen Taiwan’s sovereignty, the Eurasia Group said in an analysis.

That will not change Beijing’s aims, but may lead it to “reconsider tactics—including the tail risk possibility of tougher economic, diplomatic and saber-rattling measures,” said analysts Kelsey Broderick and Michael Hirson.

Tsai has acknowledged that Beijing may well up its pressure on Taiwan following her victory, after cutting off formal ties with her government over the past two years, restricting visits by Chinese tourists and seeking to further isolate Taipei by luring away more of its few diplomatic allies, which now number only 15. Chinese military exercises across the Taiwan Strait and air patrols around the island have added to tensions.

But she received a resounding public mandate for her rejection of China’s suggestion for a “one country, two systems” approach to governing Taiwan after the months of anti-government protests in Hong Kong, a semiautonomous Chinese territory, convinced many in Taiwan such a plan is unworkable. AP

Green Monday BusinessMirror

B4 Monday, January 13, 2020

EDC vows to continue to reforest Mount Talinis in Negros Or. in 2020

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UMAGUETE CITY— Geothermal power leader Energy Development Corp.

(EDC) has vowed to continue to reforest Mount Talinis in Negros Oriental this year as part of its massive greening efforts of the entire Negros Island.

Geothermal power leader Energy Development Corp. continues its reforestation efforts at Mount Talinis in Negros Oriental. A team of EDC employees and volunteers from partner groups recently planted more than 100 native tree seedlings of the nato species in a portion of the mountain range. EDC

Last year, EDC personnel planted native trees on the Mount Talinis range and hopes to continue the activity in 2020, said Norreen Bautista, head of EDC’s Corporate Social Responsibility on Negros Island and

Mount Apo in Mindanao last week.

Mount Talinis, which is known as the highest peak in Cuernos de Negros and has one of the few remaining old-growth forests in Negros Oriental, is one of EDC’s

tree-growing sites, she said.

She added that more than 30 EDC employee-volunteers recently climbed Mount Talinis to plant more than 100 native trees.

L aw yer A l l a n V. B a rce n a , EDC’s assistant vice president and head of Corporate Social Responsibility-Public Relations and Bautista headed the group, with assistance from the Valencia Eco-Guide Association and other partner groups.

The team planted nato seedlings, one of the 96 native tree species that EDC “aims to bring back to abundance through its Binhi forest restoration program.”

“Our team of climbers from our CSR [corporate social responsibility] and other departments bond together with other residents of our partner communities in Valencia, Negros Oriental, as we plant and grow native trees on Mount Talinis even if we do not have any operation in the area,” Bautista said.

“Each tree-growing activity brings out the participants’ bayanihan [volunteering] spirit,” she added.

The EDC team first planted some 100 premium endangered native trees on the Mount Talinis range during the celebration of Earth Day in 2018, followed by last year’s planting activity.

Baut ist a sa id lu sh forests w i l l help geot her ma l energ y recharge its reser voir, as trees will hold and release water deep into the Earth.

“Otherwise, geothermal steam

fields will dry up and will not be able to produce enough steam to run its power plants,” she said.

EDC has been planting and maintaining forests in Negros Oriental, where it has been generating clean, renewable and reliable geothermal facilities for over 36 years now, an EDC media release said over the weekend.

From 2009-2019, the company has planted and grown almost 3 million Philippine native trees on the entire Negros Island with the help of its over 30 partners under its flagship Binhi forest restoration program.

Binhi aims to br idge forest gaps and br ing back to abund a n c e 9 6 Ph i l i p p i n e n at i v e trees most ly in its geother ma l reser vation areas.

In recognition of EDC’s greening efforts through Binhi, the company is also the first Philippine partner to be tapped by the Botanic Gardens Conservation International as a tree assessor under its Global Tree Assessment (GTA) program, EDC said.

The GTA program aims to gather information for 800 Philippine native tree species that lack data to determine their conservation status.

EDC is the countr y’s premier renewable-energ y company a nd one of t he world ’s l a rgest geot her ma l producers.

Its geothermal facilities in Valencia, Negros Oriental, has been providing clean, renewable, reliable power 24/7 to Negros Island and other parts of the Visayas region for over 36 years.

Mary Judaline Partlow/PNA

How climate change, other factors stoke Australia fires

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ustralia’s unprecedented wildfires are supercharged thanks to climate change, the type of trees catching fire and weather, experts say.

And these fires are so extreme that they are triggering their own thunderstorms.

Here are a few questions and answers about the science behind the Australian wildfires that so far have burned an area twice about the size of the US state of Maryland and killed hundreds of millions of animals and birds, killed at least 26 people and destroyed more than 2,000 homes.

“They are basically just in a horrific convergence of events,” said Stanford University environmental studies director Chris Field, who chaired an international scientific report on climate change and extreme events. He said this is one of the worst, if not the worst, climate change extreme events he’s seen.

“There is something just intrinsically terrifying about these big wildfires. They go on for so long, the sense of hopelessness that they instill,” Field said. “The wildfires are kind of the iconic representation of climate change impacts.”

Is climate change really a factor?

Scientists, both those who study fire and those who study climate, say there’s no doubt man-made global warming has been a big part, but not the only part, of the fires.

Last year in Australia was the hottest and driest on record, with the average annual temperature 2.7 degrees Fahrenheit (1.5 degrees Celsius) above the 1960 to 1990 average, according to Australia’s Bureau of Meteorology.

Temperatures in Australia last month hit 121.8°F (49.9°C).

“What would have been a bad fire season was made worse by the background dr ying/warming trend,” Andrew Watkins, head of long-range f o re c a s t s a t A u s t r a l i a’s B u re a u o f Meteorology, said in an e-mail.

Mike Flannigan, a fire scientist at the University of Alberta in Canada, said Australia’s fires are “an example of climate change.”

A 2019 Australian government brief report on wildfires and climate change said, “Human-caused climate change has resulted in more dangerous weather

Usually discarded cigarettes don’t trigger big fires, but when conditions are so dry, they can, he said.

www.businessmirror.com.ph

Green boom may limit Japan bond sale slowdown

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apan’s record corporate bond issuance is likely set to slow ahead, but a boom in environmentally friendly debt could limit the downside.

Companies have sold ¥13 trillion ($120 billion) of bonds this fiscal year ending March 31, already the most ever with three months still remaining in the period, Bloomberg-compiled data show.

That red-hot pace of issuance probably won’t be repeated in fiscal 2020 because borrowing costs may rise, while fewer notes will mature during the period, reducing corporate demand to sell bonds, according to underwriters.

The bond-sale frenzy has increased the cash Japan Inc. holds even more to a record ¥513.2 trillion.

While the plentiful funding hasn’t translated to a major rise in capital spending, companies may be using the cash more to boost shareholder returns including stock buybacks, according to bankers.

Rising interest in green notes may also help Japan catch up with other advanced economies in sales of the debt to finance environmental projects.

“There are many companies that are cautious about making big investments on capital, but it’s positive that they are diversifying their use of proceeds,” said Hisashi Kawada, executive director of debt capital markets at Nomura Securities Co. in Tokyo.

Japanese issuers including electronic component maker Nidec Corp., developer Tokyo Tatemono Co. and contractor Shimizu Corp. sold green notes last year, helping boost offerings to the equivalent of $6.6 billion, a record, according to data compiled

by Bloomberg.

That pushed Japan into the top 10 for green bond issuance for the first time.

Sales of the notes in Japan may double in 2020 as addressing

climate change becomes a bigger topic, Kawada at Nomura said.

One t y pe of env ironmentfriendly bonds that may emerge in Japan this year is transition debt, according to Naoki Shindo, managing director and head of debt syndicate at SMBC Nikko Securities Inc. Those securities help companies such as utilities finance projects aimed at switching to cleaner ways of doing business.

Issuers in Europe have begun selling such debt. “ T here are still companies which are engaged in brown businesses but we expect those firms to make a transition to greener business models,” Shindo said.

He expects total Japanese corporate bond sales to be around ¥11 trillion to ¥12 trillion next fiscal year.

Enel’s bonds

Shindo said that new debt types like Italian utility Enel SpA’s sustainability-linked bonds issued last year may start to take off in Japan, as well.

Interest costs for the notes are partly tied to the company’s success in hitting renewable-energy targets.

The primary market may also move to increase transparency in the book-building process, with more issuers using the so-called pot system to sell bonds, underwriters say.

The arrangement, prevalent in the US and Europe, has syndicate banks share information among themselves and with issuers on bond buyers.

A record 15 Japanese issuers have used the pot system in bond sales this fiscal year, including Japan International Cooperation Agency, the first governmentbacked organization to sell notes that way, according to Bloombergcompiled data. Bloomberg News

Are these fires triggering thunderstorms?

Smoke rises from wildfires burning in East Gippsland, Victoria, on January 2. DELWP Gippsland via AP

conditions for bushfires in recent decades for many regions of Australia.”

How does climate change make these fires worse?

The drier the fuel—trees and plants— the easier it is for fires to start and the hotter and nastier they get, Flannigan said.

“It means more fuel is available to burn, which means higher intensity fires, which makes it more difficult—or impossible— to put out,” Flannigan said.

The heat makes the fuel drier, so they combine for something called fire weather.

And that determines “fuel moisture,” which is crucial for fire spread.

The lower the moisture, the more likely Australian fires start and spread from lightning and human-caused ignition, a 2016 study found.

There’s been a 10 percent long-term drying trend in Australia’s southeast and 15 percent long-term drying trend in the country’s southwest, Watkins said.

When added to a degree of warming and a generally southward shift of weather systems, that means a generally drier landscape.

Australia’s drought since late 2017 “has been at least the equal of our worst drought in 1902,” Australia’s Watkins said.

“It has probably been driven by ocean temperature patterns in the Indian Ocean and the long-term drying trend.”

Has Australia’s fire season changed?

Yes. It’s about two to four months longer, starting earlier especially in the

south and east, Watkins said.

“The fires over the last three months are unprecedented in their timing and severity, started earlier in spring and covered a wider area across many parts of Australia,” said David Karoly, leader of climate-change hub at Australia’s National Environmental Science Program. “The normal peak fire season is later in summer and we are yet to have that.”

Is weather, not just long-term climate, a factor?

Yes. In September, Antarctica’s sudden stratospheric warming—sor t of the southern equivalent of the polar vortex— changed weather conditions so that Australia’s normal weather systems are farther north than usual, Watkins said.

That means since mid-October there were persistent strong westerly winds bringing hot dry air from the interior to the coast, making the fire weather even riskier for the coasts.

“With such a dry environment, many fires were started by dry lightning events [storms that brought lightning but limited rainfall],” Watkins said.

Are people starting these fires? Is it arson?

It’s too early to tell the precise cause of ignition because the fires are so recent and officials are spending time fighting them, Flannigan said.

While people are a big factor in causing fires in Australia, it’s usually accidental, from cars and trucks and power lines, Flannigan said.

Yes. It’s an explosive storm called pyrocumulonimbus and it can inject particles as high as 10 miles into the air.

During a fire, heat and moisture from the plants are released, even when the fuel is relatively dry. Warm air is less dense than cold air so it rises, releasing the moisture and forming a cloud that lifts and ends up a thunderstorm started by fire.

It happens from time to time in Australia and other parts of the world, including Canada, Flannigan said.

“These can be deadly, dangerous, erratic and unpredictable,” he said.

Are the Australian trees prone to burning?

Eu c a l y p t u s t re e s a re e s p e c i a l l y flammable, “like gasoline on a tree,” Flannigan said.

Chemicals in them make them catch fire easier, spread to the tops of trees and get more intense.

Eucalyptus trees were a big factor in 2017 fires in Portugal that killed 66 people, he said.

How can you fight these huge Australia fires?

You don’t. They’re just going to burn in many places until they hit the beach, Flannigan said.

“This level of intensity, direct attack is useless,” Flannigan said. “You just have to get out of the way... It really is spitting on a campfire. It’s not doing any good.”

What’s the long-term fire future look like for Australia?

“The extreme fire season in Australia in 2019 was predicted,” said Australian National University climate scientist Nerilie Abram. “The question that we need to ask is how much worse are we willing to let this get? This is what global warming of just over 1°C looks like. Do we really want to see the impacts of 3°C or more are like, because that is the trajectory we are on.” AP

Worst drought in 40 years turns parts of Bangkok’s tap water salty

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ome residents of Bangkok can literally taste the risk of a potentially damaging drought in Thailand.

Tap water has turned saltier in parts of the city, a development blamed on the Chao Phraya River becoming too low to keep tidal seawater out.

The saline intrusion is just one sign of dry conditions pointing to what the Thai Meteorological Department expects to be the worst drought in four decades.

“Drought has come earlier this year, and it’s affecting both water for agriculture, as well as for drinking,” said Surapong Sarapa, head of forecasting at the agency.

“More parts of the country than in the past could be impacted.”

The dry spell imperils crop production and rural demand in a nation where about 11 million people work in the agricultural industry.

It could also sap sentiment, sparking a downward economic spiral, Bank of Ayudhya Pcl. said.

“Drought could stop people

from spending even if they aren’t directly affected,” said the bank’s C h ief Econom i st Sompraw i n Manprasert.

Half of major reservoirs are operating at less than 50 percent of capacity, Irrigation Department data shows.

Drought conditions are a problem across other parts of Southeast Asia too and contributed to devastating wildfires in Australia, stoking concerns about the ramifications of climate change.

The Thai weather outlook is a threat to expectations of a modest recovery in the economy, which the Bank of Thailand estimates expanded at the slowest pace in five years in 2019. Currency strength weighed on exports and tourism last year.

Prime Minister Prayuth ChanOcha last week urged Thais to save water. The government also set up a water command center to coordinate its response and allocated 6 billion baht ($198 million) for steps to prevent shortages.

Bloomberg News

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, January 13, 2020

Editor: Lyn Resurreccion

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T’boli’s famed Lake Holon shut down for rehab

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ENERAL SANTOS CITY—The famed crater Lake Holon in T’boli town in South Cotabato, one of the province’s top ecotourism destinations, was shut down to tourists for over two months starting January 6, for its annual rehabilitation.

In a memorandum, T’boli Mayor Dibu Tuan ordered the temporary closure of the entire lake and its immediate environs “to local and international visitors” until March 14, to allow its ecosystem to recuperate.

This was the sixth closure of the lake that was implemented by the municipal government since it was first shut down for nine months in 2014.

“The local tourism industry was soaring high in 2019. For this, we wanted to [give a] routine breathing time [for] the lake,” Tuan said in his memorandum dated January 2.

He tasked the town’s tourism officer, Rodel Hilado, to spearhead various activities in line with the lake’s closure, adding that they will conduct training and refresher courses for all frontline personnel assigned at the town’s tourism facilities at the lake.

Tuan said they would rehabilitate the existing facilities, and conduct anew a biodiversity assessment of the site.

Last year, the local government

Eggs from endangered sea turtle stolen from Thai beach

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ANGKOK—A community in southern Thailand has offered a reward for catching whoever stole dozens of unhatched eggs of an endangered turtle species.

The Pacific Leatherback turtle eggs were stolen before dawn from a beach in the southern province of Phang Nga, said Pratom Rassamee, head of the provincial Marine and Coastal Resources office.

“This theft is a grave incident for both marine biologists like me and local residents near the beach,” said Thon Thamrongnawasawat, one of Thailand’s top marine biologists. “We believe around 50 or more precious eggs are gone.”

Outraged local residents donated 50,000 baht ($1,660) for a reward to catch the thieves, and the sum was matched by provincial authorities, bringing the total to 100,000 baht ($3,320).

The eggs are protected by law, and stealing or possessing them is punishable by a prison term of three to 15 years, and a fine of 300,000 to 1.5 million baht ($9,950 to $49,760).

“Police are hunting those thieves down,” Pratom said by phone. “The animal is loved by people living around here.”

He said footage from security cameras along the road might offer some clues to the thieves’ identity.

The Pacific Leatherback is the world’s largest sea turtle but is also critically endangered, and its nests had not been seen in Thailand for five years until January 2019.

They are disappearing because of attacks by predators, excessive fishing, egg poaching by humans for food, and increasingly unsuitable natural environments.

“That’s why so many people are upset,” Pratom said. “I hope police can bring those thieves to justice. They have to know that those turtle eggs are not food, and they mean a lot both Thailand and the world.”

The area around Thai Muang Beach, where the nest was discovered, has long been known as a egg-laying area and hosts a turtle sanctuary run by the government’s Phang Nga Coastal Fisheries Research and Development Center. AP

also declared the lake off-limits to trekking and other tourism-related activities for two months. It was closed for 55 days in 2016, 63 days in 2017 and 70 days in 2018.

Lake Holon (formerly named Maughan) is nestled on Mount Melibengoy (for merly Mount Parker), which is listed as an active volcano.

The lake was declared as the cleanest inland body of water in the entire country in 2003 and 2004, and was recognized as among the world’s “Top 100 Sustainable Destinations” in 2016 and 2017.

The annual closure of the lake was provided for in Municipal Ordinance 33, Series of 2016, that had set the conservation and protection activities for the area’s tourism sites.

Section 20 provides for the “closing or cordoning off of certain areas of the cave, forest, lakes, and others to visitors at certain times of the year, or for several years to allow the ecosystem to breathe or revert to its natural state.” PNA

The municipal government of T’boli in South Cotabato province closes down anew the famed crater Lake Holon to tourists from January 6 to March 14, to allow its ecosystem to recuperate. The temporary closure was ordered by T’boli Mayor Dibu Tuan, following the influx of tourists in 2019. PIA

Wildfires threaten unique critters on Australian ‘Galapagos’

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Y DNEY—It has been described as Australia’s Galapagos Islands and has long been a refuge for some of the country’s most endangered creatures. But devastating wildfires over recent days have undone decades of careful conservation work on Kangaroo Island and have threatened to wipe out some of the island’s unique fauna altogether.

Experts working on the island say the fires have killed thousands of koalas and kangaroos, and also have raised questions about whether any members of a mouselike marsupial species that carries its young in a pouch have survived.

Similarly, it remains unclear how many from a unique flock of glossy black cockatoos got away from the flames and whether they have a future on an island where much of their habitat has gone up in smoke.

Located off the coast of South Australia state, Kangaroo Island

is about 50 percent larger than Rhode Island and home to 4,500 people and what was a thriving ecotourism industry.

But the wildfires that have been ravaging swaths of Aust r a l i a h ave bu r ne d t h rou g h one-third of the island, killing a father and his son, and leaving behind a scorched wasteland and a devastated community.

They also have left people scrambling to help the critters that have survived.

“Caring for all these animals is quite amazing,” said Sam Mitchell, co-owner of the Kangaroo Island Wildlife Park. “However, we are seeing a lot that are too far gone.

We are seeing kangaroos and koalas with their hands burned off— they stand no chance. It’s been quite emotional.”

Inspired in part by the late Australian wildlife expert Steve Irwin, Mitchell and his wife, Dana,

A rescued koala was injured in a bushfire in Kangaroo Island, South Australia. Dana Mitchell/Kangaroo Island Wildlife Park via AP

bought the commercial park seven years ago in their early 20s, and have been renovating the place and taking in rescued animals since.

On Friday night with the fire approaching, Dana fled with their 18-month-old son, Connor, while Sam stayed behind to defend the park and their dream. A wind change spared the park from the wildfire’s path.

Mitchell said the fires have killed thousands of koalas on the island, a particularly devastating loss because the creatures have remained largely disease-free there, while many koalas on mainland Australia suffer from chlamydia.

The couple are currently caring for about 18 burned koalas, and they’ve had to euthanize many more.

Meanwhile, Heidi Groffen could do nothing, as all eight monitoring stations she and her partner had set up to keep track of the mysterious Kangaroo Island dunnart, the mouse-like marsupial, melted in the flames.

An ecologist and coordinator for the nonprofit Kangaroo Island Land for Wildlife, Groffen said the population of 300, or so dunnarts, may have been wiped out altogether because they are too small to outrun wildfires, although she remains hopeful that some may have sheltered in rock crevices.

“Even if there are survivors, there is no food for them now,” she said. “We’re hoping to bring some into captivity before they are completely gone.”

She said the creatures have long fascinated her because so little is known about them.

Also, uncertain is the future for the 400 or so Kangaroo Island glossy black cockatoos. Once prevalent on the South Australia mainland, the birds retreated to the island after humans destroyed much of their traditional habitat. AP

Protection measures tightened for tarsiers on Mount Matutum

The Protected Area Management Office of the Mount Matutum Protected Landscape has limited the entry of visitors to the tarsier sanctuary in Barangay Linan, Tupi town in South Cotabato province, to protect the critical primate and its habitat. It prohibited the entry of walk-in visitors to the site as part of the enhanced conservation and protection measures.

PAMO-MMPL

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ENERAL SANTOS CITY—Environment personnel have limited the entry of visitors to a declared tarsier sanctuary on Mount Matutum in South Cotabato province, in a bid to protect the critical primate and its habitat.

Forester Gabriel Baute, area superintendent of the Mount Matutum Protected Landscape (MMPL), said recently they stopped accommodating walk-in visitors at the sanctuary in Barangay Linan, Tupi town, starting the holiday season as part of their enhanced conservation and protection program.

He said the influx of visitors might disturb the tarsiers, dubbed the world’s smallest primate, and threaten their natural habitat.

Baute cited that tarsiers are nocturnal animals, normally sleeping during the day and active only during the night, like owls.

“Hence, visitors are enjoined to avoid disturbing these animals in their natural habitat or when visiting the tarsier sanctuary,” he said in a statement.

Baute said like other wildlife species, tarsiers are best left in their natural habitat rather than capturing and caging them as pets.

Tarsiers are known to commit suicide when in captivity and exposed to stressors like camera flash, human touch, and other forms of disturbance, he said.

It is listed under “near threatened species” by the International Union for the Conservation of Nature.

In response to the move, the municipal government of Tupi has adopted a program, dubbed “voluntourism,” which mainly raises awareness on the need to protect the tarsiers and their sanctuary.

Visits to the site are currently allowed through prearranged schedules with the municipal environment and natural resources office (Menro).

Rolando Visaya, Tupi Menro chief, said the program promotes the principles of volunteerism and responsible tourism.

Through the program, he said they tap visitors to help plant trees at the site and its immediate environs.

The primary targets of the program are individuals with high regard and motivation for the protection and conservation of biodiversity, especially the tarsiers, he said.

“This gives our visitors the opportunity to see the tarsiers in their natural habitat and at the same time take part in protecting them,” he said.

Mount Matutum is a known sanctuary of tarsiers, which are called “mal” by Blaan and T’boli tribal residents in the area.

The area is part of the 13,947-hectare MMPL, which covers the municipalities of Tupi, Tampakan and Polomolok in South Cotabato, and Malungon in Sarangani province.

The Department of Environment and Natural Resources declared parts of Barangay Linan, Tupi, as a tarsier sanctuary by virtue of Proclamation 1030 signed by former President Fidel Ramos on June 23, 1997. PNA

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Catch the end of season sale at SM! Japan, PHL partner to make Asia a truly technologically advanced region

Japanese Minister Naokazu Takemoto and Secretary Raul Lambino of CEZA urge Philippine Congress to write laws on security tokens, cryptocurrencies, and other financial technologies.

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AOKAZU Takemoto, Japanese Minister of State for Science and Technology Policy, visited Manila on January 4, 2020, to meet with Cabinet Secretary Raul Lambino, present administrator and CEO of the Cagayan Economic Zone Authority (CEZA). It is expected that the Payment Services Act and the Financial Instruments and Exchange Act of Japan will be revised in April 2020, and it is in this context that the two officials have met to discuss the future of financial technology businesses in the country and the Asian region, especially those related to cryptocurrencies, blockchain, and a new asset class called "security tokens."

Security token offerings or STOs are digitalized securities such as stocks, bonds, and equity interests in funds that use blockchain technology as its main platform.

As Minister Takemoto explains, “[The

word] ‘security’ in STO is not the same as cybersecurity and computer securities. It means ‘securities’ in terms of assets or a way to issue digital securities and raise funds through the blockchain. This digitalization is expected to enable people who could not participate in the investment process to make small-scale investments.”

Over the past two or three years, companies in Europe and the United States have emerged with various businesses providing STO financing and associated blockchain technologies and platforms. Along with this is the creation and implementation of rules and regulations, even laws within their jurisdictions, surrounding the development, use, and exchange of these virtual currencies. Last year, STOs also attracted a lot of attention in Japan, which led five major securities companies including SBI, one of the largest FinTech companies in

the country, to establish the Japan STO Association in October 2019.

“STO is now becoming a worldwide funding method of financing, but the STO market in Asia, including Japan, has just begun to develop. To achieve the philosophy of ‘enhancing financial markets and enriching the economy by using technologies to benefit the entire population,’ cooperation between financial systems and technologies among Asia countries is essential and must be considered,” says Minister Takemoto.

Secretary Lambino also echoed this urgent need for a set of rules and regulations or even a law that would help the Philippines become more competitive in this field. In 2017, CEZA launched its "Crypt Valley of Asia" initiative, which aims to provide a stable and safe region for blockchain developers and cryptocurrency exchange operators to domicile their back office support infrastructure. It currently has 25 licensee companies from all over Europe and Asia, including Japanese developer ALLEX, a security token issuer that provides solutions on exchanges including management, settlement, and related operations. Its security token ST20 or the ALLEX token complies with the JP standards of KYC/AML (know your customer/anti-money laundering) that protects the users, investors, and the issuer company from scams and fraud.

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HE year has ended, but the joy of the holiday season is far from over. SM's End of Season Sale ended on a high note yesterday, January 12, 2020.

“The New Year is a great time to treat yourself and continue sharing the warmth and joy of the season with others. To extend the holiday cheer, SM has prepared exciting promos and surprises for our shoppers to enjoy,” said Jonjon San Agustin, SM Supermalls SVP for marketing.

With the End of Season Sale, shoppers were able to discover great finds with up to 70% discount in all SM malls nationwide. Mallgoers even got a chance to win 1 of 10 LG appliance showcase with every P1,000 purchase. This promo is available at SM Appliance stores until January 15, 2020.

All these promos and events gave SM shoppers one of the most exciting End of

Season Sales of the past decade. For more information on SM's future sales, visit https://www.smsupermalls.com or follow SM Supermalls at Facebook, Twitter, and Instagram @smsupermalls.

Local, foreign master photographers to speak at Photoworld Asia 2020

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HOTOWORLD Asia 2020, the grandest and biggest photography event in the country boasts of outstanding and master photographers as speakers in the workshops and seminars at the photographers’ convention at the Asian Institute of Management (AIM) Conference Center in Makati City. Simultaneously is the trade show at the Glorietta Activity Center where top manufacturers and suppliers will showcase the latest equipment, products and accessories in photography.

Eduviges Y. Huang, chairperson of the Federation of Philippine Photographers Federation (FPPF), organizer of Photoworld Asia non-stop since 1987, said the multi-

awarded photographers as speakers will unselfishly share their expertise and experiences to participants from various parts of the country as well as foreign participants who believe they will gain much by attending the yearly photographic event.

The theme of PWA 2020, to be held on January 21 to February 4, 2020, is “Travel and Lifestyle.” The photo convention also makes participants understand better their photographic equipment and accessories which seem forever changing, improving. The participants want to raise their knowledge in photography as well as improve their creative skills in the art.

Sitel pledges support to an inclusive and safe environment at PFIP Pride Gala

Photographed Sitel Team signing the PFIP Pledge Book (L-R) Leo del Castillo, Senior LearningManager and Head of Sitel Pride Barkada; Haidee Enriquez, Chief People Officer; and Jorelle Robles Culture and Corporate Communications Senior Manager.

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ITEL Philippines reiterated its support for Diversity and Inclusivity at Philippine Financial Industry Pride’s Pride Gala as a Silver Sponsor. The gala brought several top business brands in the country to highlight their commitment to providing equal opportunities and a safe workplace for LGBTQ+ Filipinos. This commitment was documented with representatives from each company signing the official PFIP pledge book.

“We have been a strong supporter and partner of PFIP for over two years,” stated Jorelle Robles, Culture and Corporate Communications Senior Manager, Sitel PHANZ. “We are committed to strengthening Sitel’s Diversity and Inclusion policies and to partner with like-minded companies to see what we can learn from one another and how we can further develop and enhance our existing programs.”

Haidee Enriquez, Sitel PHANZ

Chief People Officer, added: “A testament to that commitment is the recent launch of Sitel’s All is Well Total Rewards program, which provides, among other enhancements, benefits specific to the members of our PRIDE Barkada and their dependents.”

PFIP has held events and pushed for collaborations with companies in the Philippines to facilitate the exchange of best practices between professionals and provide actionable ideas on how to boost office inclusion practices, strengthen equal rights policies, institutionalize SOGIE at work, and create a work environment where everyone can thrive and be themselves, without fear of discrimination.

Going on its fourth year, PFIP remains committed to growing its efforts in the year ahead. “In 2020 our focus will be – impact, improve, and lead,” Weena Ekid, incoming PFIP Chair, shared. “We will be opening more chapters in the countryside and hosting more leadership seminars.

We will also be holding the very first LGBTQ+ Job Forum in the country.”

Fostering a global partnership to stop leprosy

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HE Novartis Foundation and Novartis Healthcare Philippines joined key stakeholders from around the world in pledging to foster a global partnership to stop leprosy. The major leprosy control stakeholders made their pledge during the 20th International Leprosy Congress (ILC) held recently at the Philippine International Convention Center (PICC) in Pasay City.

During the congress, the Leprosy Alert and Response Network System (LEARNS), the Philippines first mobile phone-based leprosy detection system, was recognized as a valuable tool for leprosy case finding, diagnosis and surveillance. Dr. Arturo Cunanan, Jr., Chief of the Culion Sanitarium and General Hospital in Palawan, highlighted the role of LEARNS in accelerating diagnosis and treatment. The DOH Center for Health Development VI teams poster presentation highlighted LEARNS as

a systematic active contract tracing approach using data collected for the past five years. Several countries including India and Nepal have expressed interest in replicating LEARNS. In his inspirational message, Yohei Sasakawa, Chairman of the Nippon Foundation (TNF) of Japan and WHO Goodwill Ambassador for Leprosy Elimination, stressed that leprosy is not only a medical issue, but also a human rights issue, lamenting that in some countries leprosy patients are denied treatment because of prejudice and discrimination. He also acknowledged the Multi-Drug Therapy (MDT) medicines donated

by Novartis to the World Health Organization (WHO). Since 2000, MDT medicines are continuously being supplied for free today. MDT is a combination of three antibiotics and is considered the most effective treatment for leprosy. Two of the antibiotics used in MDT were

developed by Novartis.

"Our involvement in the partnership builds on three decades of experience in the area, and a longstanding commitment to exploring innovative ways to interrupt the transmission of leprosy," said Mark Alexandre Rogers, Senior Global Program Head, Novartis Foundation.

The Novartis Foundation worked with the Department of Health (DOH), Department of Science and Technology (DOST), local IT company Metahelix and Novartis Healthcare Philippines in developing LEARNS. LEARNS allows frontline healthcare providers to send images of suspect leprosy lesions and symptoms via SMS or via an app to a specialist, who can decide on further diagnostic actions to verify the diagnosis. LEARNS currently covers 14 provinces in five regions, with phased nationwide scale-up by the DOH in progress.

of the Lifters.

It was broadcast last January 5

by ARD, the German state broadcaster which was first to reveal systematic doping in Russian sport and which has been at the forefront of doping revelations for many years.

The program alleged that millions of dollars paid to the IWF by the International Olympic Committee (IOC) had “gone missing,” claimed there was corruption in doping procedures, and

secretly recorded a conversation with an Olympic medalist who alleged girls as young as 13 were taking steroids in Thailand, the nation with the worst recent record of doping in the sport.

Undercover journalists also recorded a Moldovan doctor talking about corrupt practices concerning doping samples.

The IWF, the Thai Amateur Weightlifting Association, Hungary’s National Anti-Doping Agency and the Moldovan Weightlifting Federation all issued strong denials of allegations against them.

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AN increase in the size of the women’s Olympic football tournament would be more likely now that Fifa President Gianni Infantino has joined the IOC. Infantino was elected at the 135th IOC Session in Lausanne, on Saturday. The Swiss national was elected by 63 votes to 13, with three abstentions—an appreciable level of opposition as these votes go.

Questioned afterward about women’s Olympic football by insidethegames, Infantino acknowledged that making the women’s tournament the same size as the men’s was “perhaps” a discussion worth having.

“We must give women the role or place they deserve,” he said.

Any such move would also be in tune with the gender-equity drive pursued by the IOC in recent years, though perhaps not with attempts to rein in the overall number

BOOST FOR WOMEN’S FOOTBALL

More than 1,600 athletes worldwide are getting Olympic scholarships to train.

“With our values of peace, unity and solidarity, we stand in sharp contrast to the zeitgeist of our times,” said Bach, identifying “divisions, of nationalism and of discrimination.”

of athletes competing at the Summer Olympics every four years.

Currently, the women’s competition consists of only 12 teams against 16 for the men.

The men’s tournament is mainly for under-23s, with three overage players permitted per squad. This configuration will remain for this year’s Summer Games in Tokyo.

It was reported last month that Infantino had suggested the Women’s World Cup might be turned into a biennial rather than quadrennial competition.

The 49-year-old’s election to sport’s most prestigious club comes almost four years after he took over as global head of the world’s biggest sport with the body engulfed in scandal. Ex-Fifa President Sepp Blatter ceased to be an IOC member in 2015, while Issa Hayatou, the Cameroonian who was briefly acting president, left at the end of 2016.

Fifa Council member Lydia Nsekera from Burundi has remained in situ throughout, having entered the IOC in 2009. AP and Insidethegames

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HE International Olympic Committee (IOC) is monitoring the impact of an outbreak of pneumonia on next month’s Asia and Oceania boxing qualifier for Tokyo 2020, in Wuhan, as health authorities confirmed the first death from an unidentified virus.

The 61-year-old died after contracting pneumonia, caused by what is believed to be a new type of coronavirus.

According to China’s state news agency, Xinhua, 41 people have been diagnosed with the pathogen. A total of 739 people who have come into close contact with those affected

have been cleared, the Wuhan Municipal Health Commission said.

The World Health Organization (WHO) believes a new member of a family of viruses, which led to the deadly Severe Acute Respiratory Syndrome (SARS) and Middle East Respiratory Syndrome (MERS) outbreaks, is responsible for the cases.

The WHO has ruled out human to human contact as a way of transmitting the disease, but it has still sparked widespread concern in the region.

The outbreak could affect the upcoming Asian boxing qualification event for this year’s Olympic

Games in Tokyo, scheduled for the Honhsgan Gymnasium in Wuhan, from February 3 to 14.

The IOC is in contact with the Chinese Olympic Committee and is prepared to move the event if the situation worsens in the weeks leading up to the competition.

Wuhan is also set to host Group B of the third round of the Asian Football Confederation Women’s Olympic Qualification Tournament from February 3 to 9.

“We are aware of the reports on the outbreak of pneumonia in Wuhan,” the IOC said. “As it stands, the WHO have indicated that the Chinese authorities

have confirmed that SARS and MERS coronaviruses have been ruled out, and that there is no convincing evidence of human to human transmission.”

“Therefore, no specific actions or changes to standard travel health advice have been decided so far,” the IOC furthered.

“The IOC will keep on following any developments of the situation through WHO and Chinese authorities.” Insidethegames

IOC monitoring impact of pneumonia outbreak on Olympic boxing qualifier

HE political neutrality of the Olympics would be undercut if an athlete took a knee in protest on the medal podium at this year’s Tokyo Games, International Olympic Committee(IOC) President Thomas Bach said in Lausanne.

One day after the IOC published guidelines specifying which type of protests are prohibited in venues and medal ceremonies, Bach added his support.

“They [the Olympics] are not and must never be a platform to advance political or any other divisive ends,” Bach said to an audience that included the heads of international sports federations. “Our political neutrality is undermined whenever organizations or individuals attempt to use the Olympic Games as a stage for their own agendas, as legitimate as they may be.”

Bach robustly defended two longstanding Olympic Charter rules in a 25-minute speech. Rule 50 prohibits any “demonstration or political, religious or racial propaganda” in Olympic areas. Rule 40 restricts an athlete’s ability to promote his or her own sponsors at a time when many of them receive a huge amount of attention.

Taking a knee, making hand gestures with political meaning, and refusing to respect fellow medalists on the podium are highlighted as “divisive disruption” in the new guidelines.

Recent examples of such protests have been seen at the 2016 Rio de Janeiro Olympics, the swimming world championships and the Pan American Games.

Athletes copying the iconic raised fist salutes by American sprinters Tommie

Smith and John Carlos at the 1968 Mexico City Olympics could be sent home from Tokyo as part of three potential rounds of disciplinary action—by their team, their sport and the IOC. Bach cautioned that “the eyes of the world will be on the athletes and the Olympic Games” in Tokyo.

The protest guidelines—which allow athletes to express political opinions on their social-media accounts—were formally approved by the IOC Athletes’ Commission.

That panel rarely takes a different view from the Bach-chaired IOC executive board.

The Athletes’ Commission has also advised competitors against acting independently to challenge Rule 40, or support commercially run sports events organized outside the Olympic system.

“Our solidarity-based model is not for sale,” Bach said Friday.

The IOC has long argued that promising exclusivity to Olympic sponsors—including Coca-Cola, Intel and Visa—maintains the value of those deals to ensure more money is available for distribution to games organizers, sports and national Olympic bodies.

Revenue was $5.6 billion from television and commercial deals in a four-year cycle tied to the 2014 Winter Games in Sochi, and 2016 Summer Games in Rio de Janeiro.

Bach warned against a “purely profitdriven” IOC finance model.

The current system, which limits an athlete’s personal earning potential, helped ensure an Olympics with 33 sports in Tokyo and teams from all 206 national Olympic bodies, whose travel and accommodations costs are covered, he said.

OLYMPICS, POLITICS

Tamás Aján: Desperate people are attacking me.

amás Aján told an interview in Hungary that the German television documentary about alleged corruption in weightlifting has “completely ruined my life and 50 years of my work.”

Aján, the Hungarian who was general secretary of the International Weightlifting Federation (IWF) for 24 years before becoming president in 2000, was the main target of the documentary Secret Doping-The Lord

lies or slander,” Aján said. “ARD says weightlifting is a sport where millions go missing—it’s just not true.”

The question of the “missing” money, said to be at least $5.5 million, was raised by Antonio Urso, the Italian president of the European Weightlifting Federation, and Christian Baumgartner, president of the German Weightlifting Federation and a former member of the IWF executive board.

“I was not surprised that Baumgartner and Urso gave their name to this campaign,” Aján told the

Hungarian tabloid Blikk. “Desperate people are attacking me, who are trying to warm up a case that has been officially closed for 10 years, trying to hurt me.”

Baumgartner, who lost his IWF executive board seat at the 2017 elections, when Urso failed to unseat Aján as president, told ARD: “Aján stands for a system that, over a period of decades, has established doping in weightlifting and that has gone wrong for decades.”

In his interview with MTI, Aján said: “It should be stressed that, yes,

Insidethegames

serious and worrying”—confirmed weightlifting’s status on the Olympic Games schedule after the IWF revamped its anti-doping procedures and introduced more rigorous testing into the Olympic qualifying system.

Aján, who confirmed that he would not stand again for election when his fifth term comes to an end in 2021, said ARD’s claim that weightlifting had been overseen by one man for nearly 50 years was “simply nonsensical.”

He promised there would be an extraordinary meeting of the IWF executive board, at which the program and its aftermath will be discussed.

FIFA President Gianni Infantino (left) receives a medal from International Olympic Committee President Thomas Bach. Infantino’s arrival at the IOC could herald the boost for women’s Olympic football. Germany is the reigning gold medalist in the event. AP

onday, January 13, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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Sports BusinessMirror

DON’T MIX

The Moldova Federation statement accepted that three of its athletes had used “doppelgangers” to provide urine samples in 2014, but said they acted “without any member of our federation being aware of it” and that nobody from the federation had ever “corrupted or tried to corrupt doping control officers.”

Aján, 80, told the MTI news agency in Hungary that accusations of corruption by ARD were “slanderous” and “unjust.”

“The IWF reserves the right to take legal action against anyone who spreads

Aján: TV documentary corruption claims ‘ruined my life’ T there are two bank accounts, but neither is secret. All members of the [IWF executive]board were aware of it, I am joint signatory along with the head secretary-treasurer, while three other board members have signatory rights at the bank.”

“This film has completely ruined my life and 50 years of my work,” he said. “A large part of my work has been about doping prevention. That’s why it was a blow to the gut for them to claim we had done nothing.

“Even IOC President Thomas Bach said what great anti-doping work is being done by the IWF,” he added.

Last year, the IOC—which described the ARD accusations as “very

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Business

C2 Monday, January 13, 2020

THAILAND ACES

Williams breaks 3-year title drought at Auckland meet

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UCKLAND, New Zealand—Serena Williams broke a three-year title drought when she beat fellow American Jessica Pegula, 6-3, 6-4, on Sunday to win the singles final at the ASB Classic.

Williams hadn’t won a title since the Australian Open singles in January 2017, and not since she became a mother to her daughter Olympia, who was at courtside to see the victory.

The 23-time major winner donated her $43,000 winner’s check to the fundraising appeal for victims of Australian wildfires, joining many other tennis stars, such as Ash Barty, Nick Kygrios, Novak Djokovic and Maria Sharapova, who have pledged money to the already monthslong fire emergency there.

Williams was under pressure at first against the 25-year-old Pegula, playing in her third Women’s Tennis Association final, but asserted herself more as the match went on to claim her 73rd win in 98 finals and to add her name to a trophy won by her sister, Venus, in 2015.

“It feels good. It’s been a long time,” Williams said. “I think you can see the relief on my face.

“I played an incredible opponent today in Jessica and, honestly, it was a great match and I couldn’t have played anyone better in the final.”

The last three years have been challenging for Williams as she juggled to competing

demands of tennis and motherhood. But she seemed to turn a corner during a demanding week in which she played both doubles and singles, turning out on all seven days of the tournament.

She was frequently behind in her matches but showed typical determination to fight her way to the final and overcome Pegula, who ousted former World No. 1 Caroline Wozniacki in the semifinals.

Pegula has been on a steady climb up the rankings since overcoming a serious knee injury two years ago. The daughter of Buffalo Bills owners Terry and Kim Pegula, she won her maiden WTA title in 2019 and appeared to be a star on the rise in all her matches in Auckland.

Pegula broke Williams in the opening game and was dominant for the first half of the first set, moving Williams around to open up the court for her punishing passing shots. She also chased down everything, making returns that Williams thought out of her reach.

But Williams visibly called on herself to lift near the middle of the set, breaking to level at 3-3. She then held serve to love and broke Pegula for 5-3, serving out the first set in 51 minutes.

Williams broke Pegula to love in the third

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amchok Tantipokhakul and Wisut Artjanawat seek to close out the Philippine Golf Tour Asia’s (PGTA) third season the way they kicked off Thailand’s campaign last year, with Kammalas Namuangruk and Nirun Sae-Ueng shooting for a breakthrough in the International Container Terminal

Serena Williams poses with daughter Alexis Olympia Ohanian Jr. and the ASB trophy. AP game of the second set as she steadily began to dominate. She had three match points on Pegula’s serve before clinching the match on serve in just over 90 minutes.

“It definitely feels good,” Williams said. “It feels that I was definitely improving as the week went on.” AP

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Brisbane title in four years.

Osaka broke for the first time for a 6-5 lead in the second set after winning the first-set tiebreaker. But the Japanese player was not able to convert the break.

“I was proud I stayed with her because it could go a really bad way after that first set,” Pliskova said. “There was not many things I did wrong, it was more about her [playing well].”

Despite losing her opening singles match in Brisbane, top-ranked Ash Barty has managed valuable court time on the way to the women’s doubles final.

She will partner Kiki Bertens against topseeded Barbora Strycova and Su-Wei Hsieh on Sunday.

Australian Open organizers, meanwhile, said Saturday that US Open champion Bianca Andreescu, Juan Martin del Potro and Richard Gasquet have withdrawn due to knee injuries.

AUSTRALIA’S Shane Warne waves his cap to the crowd as he leaves the field following their win over of England in the fifth and final Ashes cricket test in Sydney, in January 2007. AP

Shane Warne cap auctioned for $1M for bushfire appeal

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YDNEY—Australian cricketer Shane Warne’s baggy green cap has made more than 1 million Australian dollars ($685,000) at auction to aid those affected by wild fires across the country.

When bidding closed on Friday morning the famous cap that is given to each Australian test cricketer on their debut was sold for $1,007,500.

Australia’s Commonwealth Bank was later revealed as the buyer. It plans to take the cap on a national tour to raise additional funds for fire-ravaged communities before it becomes a permanent exhibit at the Bradman Museum south of Sydney.

The museum is named after Australia’s Donald Bradman, generally regarded as one of

NO JAMES, NO DAVIS, NO PROBLEM

the best batsmen, if not the best, to have ever played the game.

Proceeds will go to the Australian Red Cross bushfire appeal.

One of the authoritative journal Wisden’s five cricketers of the century, legspin bowler Warne played 145 tests and claimed 708 wickets.

“Thank you so much to everyone that placed a bid and a huge thank you/congrats to the successful bidder—you have blown me away with your generosity and this was way beyond my expectations!” Warne posted on social media.”

Australia’s bushfire crisis that began in September, and continues has killed 27 people and destroyed more than 2,100 homes. AP

HE University of Santo Tomas (UST) High School Batch 1971 will hold the UST Golf Fellowship on Wednesday at the Orchard Golf and Country Club in Dasmariñas City, Cavite.

Golf playing UST High School alumni are invited to

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KLAHOMA CITY—The Los Angeles Lakers fully expected victory, even without LeBron James and Anthony Davis.

Kyle Kuzma was among those who took advantage. He scored a season-high 36 points and the Lakers rolled past the Oklahoma City Thunder, 125-110 on Saturday night.

Lakers Coach Frank Vogel said James had a chest cold. James is averaging 25.4 points, a league-leading 10.7 assists and 8.7 rebounds, and has helped the Lakers to the best record in the Western Conference.

“The Australian Open is unfortunately too soon in my rehab process and I sadly will not be able to play in it this year,” Andreescu said.

“It was a very tough decision to make as I love to play in Melbourne, but I have to respect the recuperation plan for my [left] knee and body.”

The Australian Open, the first Grand Slam of the season, starts January 20 in Melbourne.

Tournament officials said on Twitter that Gasquet had withdrawn with a knee injury while del Potro was also recovering from a knee ailment.

The 19-year-old Andreescu, Canada’s first winner of a Grand Slam singles tournament, hasn’t played since suffering the injury at the WTA Finals in October in China.

A shoulder injury last March kept her out of all but one match from April through July.

She retired after one match at last year’s French Open, didn’t play at Wimbledon in 2019, before going on to win the US Open. AP

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ONOLULU—Michelle Wie always thought if she ever had children, that would be the end of her golf career.

Now she is more inspired than ever to return.

Wie, who married Golden State Warriors Executive Jonnie West in August, announced they are having their first child—a girl—this summer.

“I do know, especially now having a baby girl, the motivation to come back is even stronger,” Wie said during a conference call Friday. “Because I’m having a girl, I want her to see me play, and be a strong woman. That’s really important. I always thought I’d be the person that I’m going to quit when I have kids. Now it’s different.”

Wie has been one of the most recognizable players in women’s golf from the time she was a teen prodigy in Hawaii, coming

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ONDON—A French tennis player was suspended for four-and-a-half years on Friday after admitting to corruption.

Jonathan Kanar admitted to contriving the outcome of a match he played at a Futures tournament in Harare, Zimbabwe, in June 2017, in return for a corrupt payment of €1,500 ($1,670).

Kanar also admitted to failing to report a corrupt approach he received in relation to the Harare match.

The Tennis Integrity Unit said the start of the ban was backdated to July 11 last year, adding the 25-year-old Kanar is “prohibited from competing in, or attending, any sanctioned event organized or recognized by the governing bodies of the sport for the duration of the ban.”

Kanar, who is currently ranked No. 1,494 in singles, had a career-best ranking of No. 427 in January last year. AP

Davis, who leads the Lakers with 27.1 points per game, sat out for his second straight game with a gluteus maximus contusion.

Still, the Lakers felt they had enough to win, even against a Thunder team that had won 11 of 13.

“That’s why you have a great team,” said Quinn Cook, who led the Lakers’ reserves with 13 points. “We want to have guys who contribute one through 15. That’s the goal of anybody putting a team together. Obviously, this team is talented.

Everybody is selfless and everybody is ready. We all

participate in the daylong tournament.

The shotgun tee off starts at 7 a.m. Tournament fee is pegged at P4,500 for each nonmember of the Orchard and guest, and P3,500 for Orchard members.

Ticket includes green fee, caddy fee, golf cart, lunch and raffle.

A Tiggo 2 Cherry car will be given to the participant who shoots a hole-in-one in a designated hole.

For details, please contact Edna Gatmaitan 0917-5275471, or send her private message on her FB account.

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HE Samahang Basketbol ng Pilipinas (BSP) opted to exclude prized center June Mar Fajardo from the national pool to give the Cebuano pride a much needed rest from his exhausting international duties and let the younger ones do the work.

The SBP announced the composition of a 24man pool—a mix of veterans and up-and-coming stalwarts—over the weekend that will prepare for the FIba Asia Cup qualifiers next month.

Providing ceiling are Japeth Aguilar, Christian Standhardinger, Poy Erram, Troy Rosario, and young big men Isaac Go and Justine Baltazar. Also worth noticing was addition of Marc Pingris, the 38-year-old comebacking forward who have served the national team several times before.

MICHELLE BABY ON T

CORRUPTION IN TENNIS

Evenepoel

to sweep the last two legs of PGTA’s third season that extends to the first month of the new year.

The ninth leg, the ICTSI Eagle Ridge Championship, will be played on January 21 to 24 at the Faldo layout.

Other Thais tipped to contend for the crown in the $100,000 event put up by ICTSI are Polthai Tawit, Chonlatit Chuenboonngam, Pasavee Lertvilai, Donlaphatchai Niyomchon, Ratchapol Jantavara, Natthapong Niyomchon, Tawan Phongphun, Puk Pradittan, Wongsakorn Choowong, Namuangruk and Nirun Sae-Ueng, who lost in a playoff to American Tarik Can in

UST-HS Batch 1971 golf up

Osaka loses in semis, Keys rallies past Kvitova RISBANE, Australia—Madison Keys came from a break and set down to beat two-time Wimbledon champion Petra Kvitova in the Brisbane International semifinals on Saturday.

The American won nine of 10 games in her mid-match recovery against the tournament’s 2011 champion to beat Kvitova, 3-6, 6-2, 6-3.

Keys will play defending Brisbane champion Karolina Pliskova in Sunday afternoon’s final. Pliskova beat Australian Open champion Naomi Osaka, 6-7 (10), 7-6 (3), 6-2, after saving a match point.

Keys said a chat with her Coach Juan Todero helped to swing the momentum.

“He pretty much just said ‘Don’t be discouraged’,” Keys said. “I felt like I had chances, but couldn’t close on those...and once I did, I felt the momentum went back and forth but I gained confidence.”

Pliskova will attempt to win her third

Services Inc. (ICTSI) Eagle Ridge Invitational unfolding on Tuesday at Eagle Ridge’s Aoki course in General Trias, Cavite.

The burly Tantipokhakul charged back with a closing 67 to edge Finland’s Teemu Putkonen by one and rule the circuit’s opening tournament at Luisita last April, while Artjanawat topped the first PGTA co-sanctioned event abroad with a similar come-from-behind victory in Daan PGA of Taiwan Open last May. Although the Thais slowed down in the next five legs, the country’s perennial regional rivals both in the amateurs and pros are going all-out

MICHELLE WIE: Because I’m having a girl, I want her to see me play, and be a strong woman.

within one shot of making the cut at the Sony Open on the Professional Golfers Association (PGA) Tour as a ninth-grader at nearby Punahou School.

Her surprise announcement on Instagram capped off 10 months she described as a whirlwind.

On the golf course, she never fully recovered from wrist surgery and played only four tournaments. Her last event was the KPMG Women’s PGA at Hazeltine, where she opened with an 84 and tearfully wondered how much longer she could keep going.

Off the course, life was never better. Wie and West, the son of National Basketball Association great Jerry West, announced their engagement in March. They were married in August and Wie, who graduated from Stanford, moved back to the Bay Area.

And now they’re starting a family.

“I’m so blessed—2019 could have been a bad year for me,” Wie said.

Wie, who turned 30 in October, has five victories on the Ladies PGA Tour. The biggest was the US Women’s Open in 2014 at Pinehurst No. 2, one week after the men’s US Open on the Donald Ross design.

But her career has been slowed by injuries, even as a teenager, and the most recent injury raised speculation she might be done.

Wie worked for Golf Channel in the

Teener Evenepoel to make Grand Tour debut at Giro

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put the work in.” Kuzma, in just his third start of the season, made 15 of 24 shots.

“I just got an opportunity to get scoring opportunities, having the ball in my hands,” Kuzma said.

Rajon Rondo added 21 points, 12 rebounds and eight assists for the Lakers. Los Angeles shot 51.5 percent to win its eighth in a row.

“Rondo set the tone for us,” Kuzma said. “Going right after CP [Chris Paul] right out of the gate, being aggressive with his scoring. A lot of times,

RUSSELS—Belgian teenager Remco Evenepoel, one of the most promising cyclists of his generation, will make his Grand Tour debut at the Giro d’Italia.

Evenepoel won five races during his first pro season with the Deceuninck-Quick Step team, including the prestigious Clasica San Sebastian ahead of Olympic champion Greg van Avermaet. He also secured a silver medal in the time trial at the world championships.

“I am really looking forward to being present in my first three-week race, the Giro d’Italia, a

huge and prestigious event that captures one’s imagination,” said Evenepoel, who dominated in the junior categories after switching from soccer to cycling only three years ago.

Evenepoel, who will turn 20 later this month, was named Belgian Sportsman of the Year in 2019.

In addition to the Giro, he will also focus this season on the Liège-Bastogne-Liège and Il Lombardia classics, the Olympics and the world championships.

Starting from Budapest, the Giro will be held from May 9 to 31. AP

everybody knows him as a pass-first guy. He came out today in attack mode.”

James played on Friday night and had 35 points, 16 rebounds and seven assists in a win over the Dallas Mavericks.

Without him, the Lakers raced to a 73-49 halftime lead over the Thunder behind 58 percent shooting.

Kuzma scored 23 points before the break. It was Oklahoma City’s largest halftime deficit of the season.

The Lakers extended the lead to 32 in the third quarter before Oklahoma City rallied and trimmed

its deficit to 102-82 at the end of the period.

The Thunder got as close as 11 points with 2:37 to go before a short jumper and a 3-pointer by Kuzma ended the rally.

Shai Gilgeous-Alexander and Danilo Gallinari each scored 24 points for Oklahoma City. The Thunder came out flat after an emotional win over the Houston Rockets in Russell Westbrook’s return on Thursday.

It was a tough lesson for the Thunder, who have been surprisingly good this season. AP

orts

sMirror

Monday, January 13, 2020

ES IN FULL FORCE PGTA’s fourth leg (Aboitiz Invitational) at Wack Wack last September Can is also in the fold, along with a number of foreign aces a top finish in the circuit backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High, including Aussie Damien Jordan, Peter Stojanovski of Macedonia, Josh Salah, Lexus Keoninh and Charles Lee of the US, Japanese Ryo Nishimura and Korean Shin Seung Woo. Also out to make an impact are invitees Jonathan Fransson from Sweden, Adam Kasa from Hungary, Sangun Lee and Gookmin

Kim from Korea, Japanese Toru Nakajima, Sean Avellan from Finland, Aussie Joe Knox and Jeremy Wendelken from the US. The locals, however, are all primed up to defend their turf in the next two weeks to, likewise, gain some momentum when the fourth season of the region’s rising circuit marks its fourth season from April 28 to May 1 for the Luisita Championship in Tarlac after the 2020 PGTA Qualifying School from April 22 to 25, also at Luisita.

SBP NAMES GILAS POOL, BUT WHERE’S JUNE MAR? Bur what caught attention was the absence of Fajardo, the five-time Philippine Basketball Association Most Valuable Player, and a veteran of the 2014 and 2019 Fiba World Cup. SBP President Al Panlilio explained that it is only in the early windows that Fajardo would miss games, and it serves as perfect timing for the new recruits to be exposed in the international level of play.

“We all know what we can get from June Mar Fajardo as he has proven himself time and again on the international stage. He has served Gilas for so long, and will continue to be part of the program,” Panlilio assured.

“However, at this stage, we believe that he deserves extended break. The wear and tear of

chasing a PBA Grand Slam and spending his off days with the San Miguel Beermen playing for Gilas will take a toll on anyone, he added.

Without the 6-foot-10 Fajardo, Go, Baltazar and the other young dribblers get the chance to step up.

“It’s the early days in our program, and we want to test youngsters who may be deserving of a shot in future bug tournaments,” he said.

Also part of the pool are brothers Matt and Mike Nieto, and Javi and Juan Gomez de Liaño, Dave Ildefonso, Rey Suerte, Allyn Bulanadi, Thirdy Ravena, Kobe Paras, Jaydee Tungcab and Dwight Ramos.

Backing them up are old reliables Matthew Wright, Mac Belo, Ray Parks Jr., CJ Perez, Roger Pogoy and Kiefer Ravena. Ramon Rafael Bonilla

studio during the Solheim Cup, and CBS Sports announced late last year it was adding her to its broadcast team, including a role on one of its platforms at the Masters, though specifics have not been revealed.

Having a daughter on the way has changed her outlook.

Wie said the first trimester was a struggle—“I don’t think they should call it morning sickness. It’s 24/7,” she said with a laugh—but she even raised the notion of playing before the baby arrives. She says she has chipped and putted, but mostly stayed in the house upon learning she was pregnant.

“Ideally, I would love to have the experience of playing while pregnant. We’ll see,” Wie said. “I’m not ruling anything out.”

Wie says she has long admired women on the LPGA Tour who have played after having children, notably Solheim Cup captains Juli Inkster and Catriona Matthew, most recently Stacy Lewis and Gerina Piller. She always wanted to fashion herself after Lorena Ochoa, who retired at No. 1 in the world because she

wanted to start a family.

“When she did that, I thought that was pretty cool,” Wie said.

She also thought about Suzann Pettersen of Norway, who stepped away from golf when she had a son, returned at the urging of Matthew and made a seven-foot putt on the final hole to win the Solheim Cup for Europe.

And she thought about Tiger Woods and the moment he shared at Augusta National in April.

“I see Tiger winning the Masters again, the comments he made about how special it was that his kids were out there and saw him play. Things like that motivate me,” Wie said.

“It’s definitely a dream for my kids to be in the crowd and watch me play.”

For now, Wie says she has kept busy with various projects. Along with her golf, Wie is known for her artistic flair from painting to fashion. But her spare time does not making clothes for her daughter.

“I will not be knitting baby clothes. I’ll be buying,” she said. “I don’t have the patience.” AP

E WIE: THE WAY On Liverpool FC’s extraordinary run Rick Olivares | bleachersbrew@gmail.com

Bleachers’ Brew Following Liverpool’s 1-nil win over Tottenham early Sunday morning, English pundit Phil Neville was asked what he thought about the Merseyside club’s record start to the Premier League season with 20 wins in 21 games (one was a draw) and, thereby, accruing 61 points. That is the best start to any of Europe five major football leagues after 21 games.

Liverpool just eclipsed FC Bayern Munchen’s and Manchester City’s 59 points and 19 wins in 21 games. The former accomplished that during the 2013 and 2014 season while latter achieved that in 2017 and 2018.

Neville astutely answered that he believes that Liverpool doesn’t care about any records (even if they do go undefeated this campaign). The former Manchester United defender said what is more important for Liverpool is to annex their first Premier League title and their first league championship since 1990.

It seems every week, all pundits talk about is Liverpool and their title chase, how good they are after winning the UEFA Champions League,

the UEFA Super Cup, and the Fifa Club World Cup, and the records they are smashing along the way.

It must be galling for non-LFC supporters. But it is what it is...a riveting story for one of football’s most storied and iconic clubs.

Liverpool’s inspirational German manager, Jurgen Klopp, has downplayed all talk of the title chase over (until it is mathematically impossible for any team to catch them), as well as records his team is taking with every week’s passing.

Downplayed the German, “I’ve been in football 50 years and if somebody told me that would ever happen I would say it wasn’t possible. Now it’s happened and I don’t know exactly what’s wrong with me. But it’s cool, it’s exceptional. If that winning streak was easy then many other teams would have done it. But we didn’t think about it before the game and someone had to remind me afterward.”

And I agree.

Records...what good are they if you do not win a championship? The Seattle Mariners’ broke the New

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York Yankees’ 114-win total in a single season by two wins, but they did not win the World Series. The Golden State Warriors also broke the Chicago Bulls’ 72-wins in a single season by one more win, but they lost in the National Basketball Association Finals to the Cleveland Cavaliers.

Records are good and people remember them for as long as they stand. When someone breaks it...that’s it. A championship? No one can take that away from you. And I am sure that if you ask everyone who supports Liverpool...the league title—not tasted since the 1989 and 1990 season—is more important than any record.

Furthermore...that will look lovely next to their last three pieces of silverware.

I will say this though. It is incredible how Liverpool is doing more so how they responded to losing the Premier League title on the last day of the previous season (when Manchester city also won their match and the league by one point), and how they responded to the defeat in Barcelona by winning their next two games to claim the Big Ears trophy; their sixth.

And now to see them come out like this; like gangbusters. And they are still in the running for the Football Association Challenge Cup, as well as the defense of their Champions League trophy.

And all this brings me back to Klopp’s very first press conference as Liverpool manager where he said that four years into the club, they would have won at least one trophy. He is 3-6 since joining Liverpool. The man is not only a genius. He’s also a prophet.

Lyceum of the Philippines University, while Saint Benilde made an early statement with a 25-17, 14-25, 25-17, 25-20 conquest of University of Perpetual Help Systen Dalta.

Regine Arocha, who had 18 points in last Friday’s opener, will lead the Lady Chiefs in their 12 noon clash with the Lady Blazers.

The Lady Blazers are looking good with a mix of veteran and rookies potential for the championship, and are hoping to do well in their 2 p.m. duel with the Lady Cardinals.

NU edges Ateneo, FEU unblemished

Blatche hones up with Mighty five for international tourney in Dubai ndray Blatche last week arrived over his fighting weight, but Mighty Sports Owner Alex Wongchuking and Coach Charles Tiu are confident the naturalized Filipino could shed the unwanted pounds before the club leaves on January 21 for the Dubai International Basketball Tournament.

“We know how good a player he is, but he needs to be in excellent form because we will be, again, facing formidable teams from Lebanon and Middle East,” said Tiu, who masterminded the team’s title sweep of Taiwan’s Jones Cup last year.

Determined to improve on its third-place finish last year, Mighty Sports has been training daily since the 6-foot-9 Blatche arrived on Thursday as the team intends to add the Dubai title to its trophy cabinet.

“With a good mix of young and veteran players in the team we are hoping we can at least finish in the top 4,” said Wongchuking, who also thanked Creative Pacific of Bong Cuevas, Go For Gold, Oriental Game and Gatorade for supporting the team.

Except for the 7-foot-2 Kai Sotto, the members of the 16-man team were all accounted for during the team’s first three days of training, each relishing the opportunity to play for Mighty Sports in a tough international tournament.

Sotto couldn’t join Mighty’s preparation because of a previous commitment but the former Ateneo standout will fly straight to the ultramodern capital city of the United Arab Emirates also on January 21.

Despite Sotto’s absence in training, Wongchuking and Tiu expressed no apprehension with regards to team chemistry believing the 17-year-old star could easily adjust to Tiu’s system.

Sotto is in the US trying to toughen up himself at The Skill Factory as several top NCAA teams have already expressed interest in tapping his services.

Sotto will have only two days to study and instill all the plays because the nine-day tournament starts on January 23.

The presence of Renaldo Balkman and McKenzie Moore—imports with championship experience—and several collegiate standouts including Ateneo’s Thirdy Ravena and University of the Philippines’s Juan Gomez de Liaño makes Mighty Sports a favorite to finish in the top 4.

The other members of the team are Joseph Yeo, Rain or Shine’s Beau Belga, Joaqui Manuel, Gab Banal, Jarell Lim, Dave Ildefonso, de Liaño, Jamie Malonzo, Mikey Williams and Jelan Kendrick.

Lady Chiefs vs Lady Generals

EFENDING three-time champion Arellano University plays Emilio Aguinaldo College (EAC), while College of Saint Benilde take on Mapua on Monday in the 95th National Collegiate Athletic Association women’s volleyball tournament at the Filoil Flying V Centre.

The Lady Chiefs and Lady Blazers opened the season with impressive wins last Friday.

Arellano University launched its four-peat bid with a 27-25, 25-20, 25-20 victory over

Namchok Tantipokhakul is one of the Thai aces to watch.

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Andray Blatche is shedding off some unwanted pounds.

ational University (NU)-Nazareth School eked out an 81-78 victory over Ateneo High School on Sunday in the University Athletic Association of the Philippines Season 82 boys’ basketball tournament at the Filoil Flying V Centre in San Juan.

Carl Tamayo made two freebies to put NU ahead, 81-78, with 4.8 seconds left, and Joaquin Jaymalin missed a three-point attempt to tie the game for Ateneo to give the Bullpups their eighth win in as many outings.

Despite the victory, NU Coach Goldwin Monteverde rued his players’ shortcomings.

“There were poor decisions, and our defense was [really] bad in the first three quarters,” he said.

Trailing 78-79, Lebron Lopez attempted and missed a one-handed dunk on a three-on-one fastbreak that could have given Ateneo the lead with 57 seconds left in the game.

Terrence Fortea led NU with 17 points and four rebounds, Ernest Felicida added 12 points on top of seven boards and four assists, and Kevin Quiambao chipped in 12 points and 11 rebounds.

Forthsky Padrigao’s exploded with 30 points on 11-of-22 shooting from the field for Ateneo, while Lopez contributed 17 points, nine boards and five rejections.

Far Eastern University-Diliman, meanwhile, zoomed to its seventh straight triumph after surviving Adamson University’s fourth-quarter surge, 67-59, also on Sunday.

Penny Estacio registered 25 points and four rebounds, while Cholo Anonuevo got 12 points, four boards and five assists as FEU improved to 7-1 won-lost.

Joshua Barcelona led Adamson University with 17 points, while MVP race leader Jake Figueroa was limited to eight points on three-of-10 shooting.

University of Santo Tomas (UST) moved to .500 after drubbing University of the East (UE), 90-63. The Tiger Cubs needed a huge second half to shrug the Junior Warriors, outscoring their foes, 53-31.

Rojan Montemayor tallied 19 points for UST, while Bismarck Lina dropped 13 points on a clean five-of-five clip from the field alongside 12 rebounds.

Jericho Montecalvo and Pio Cruz scored 16 and 10 points, respectively, for UE, which slid to 2-6.

Ateneo, Adamson University and UST are tied for third place with identical 4-4 win-loss records.

In the other matchup, La Salle-Zobel fended off upset-looking University of the Philippines Integrated School, 94-81.

Kean Baclaan posted 18 points, 12 rebounds and five assists, while John Quimado unloaded 17 points, 11 boards and two blocks as the Junior Archers, who moved to 3-5.

Sainz, Brabec R keep rally lead into rest day

StEphane Peterhansel of France and codriver Paulo Fiuza of Portugal race their Mini during Stage Six between Ha’il and Riyadh in Saudi Arabia on Friday. AP

Sports BusinessMirror

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| Monday, January 13, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LOOK MA, BOTH HANDS! T

By Rob Maaddi The Associated Press

OM BRADY tried it. Nick Foles perfected it. More quarterbacks are doing it.

Catching passes isn’t just for wide receivers, tight ends and running backs anymore. Coaches aren’t shy about drawing up trick plays that let quarterbacks use their hands for more than throwing a football.

Foles has the most famous catch of all because it came in the Super Bowl in Philadelphia’s 41-33 victory over New England on February 4, 2018.

Foles lined up in the shotgun formation, faked calling an audible on the play, and moved up and over to act like he was alerting the offensive linemen of a new play. Running back Corey Clement took the snap instead, rolled to his left and pitched the ball to tight end Trey Burton, who caught it coming off the end, ran a few steps and floated a pass to Foles in the end zone for a 1-yard touchdown that gave the Eagles a 22-12 halftime lead.

The play was called the “Philly Special,” and it’ll be remembered as one of the gutsiest calls in sports history.

“Everybody, except the Philadelphia Eagles, thought I finally came to my senses and was going to kick a field goal in that spot,” Eagles Coach Doug Pederson recalled. “It was the right moment, right time, perfect situation.”

Earlier in that game, Brady failed to make an over-theshoulder catch on a pass from Danny Amendola.

The Eagles didn’t wait long to try it again. Foles caught a pass from wide receiver Nelson Agholor in Week One the following season.

Josh Allen was the latest quarterback to do it; making

a 16-yard TD reception on a wobbly toss from John Brown, that gave Buffalo a 7-0 lead last Saturday in a 22-19 overtime loss at Houston in an American Football Conference wild-card playoff game.

Allen handed the ball to Brown on an end-around, slipped out into the secondary and was wide open down the left sideline despite having to slow down to make the catch.

Then he was flipped into the end zone.

The Detroit Lions ran the same play a week earlier in a 23-20 loss to Green Bay to end the regular season. David Blough was wide open to catch a 19-yard TD pass from Amendola.

It doesn’t work every time, however.

The Vikings tried it against Green Bay in Week 16 with a 10-6 lead early in the second quarter. On a third-and-4 from the Packers 42, Kirk Cousins handed off to Dalvin Cook going left on a sweep. Cook pitched it back to Stefon Diggs going right.

Diggs was under some pressure, never set his feet and badly overthrow Cousins, who was open but not fast enough to come close to running it down.

Deshaun Watson caught a 6-yard TD pass from wideout DeAndre Hopkins in a 28-22 win over New England on December 1. But Watson has came on a forward pitch on an option play.

Taysom Hill had 21 catches, including seven TDs for New Orleans this season. But he was lined up as a wide receiver or tight end on those plays.

Andy Dalton, Jacoby Brissett and Jeff Driskel were the only other quarterbacks to catch passes in 2019, but their receptions came on tipped balls they threw.

In 2018, Matt Ryan and Ryan Tannehill had TD catches.

Ryan made an over-the-shoulder grab on Mohamed Sanu’s throw for a 5-yard TD for Atlanta.

IYADH, Saudi Arabia—Carlos Sainz will take the Dakar Rally lead into the rest day after losing a duel with teammate Stephane Peterhansel on the sixth stage on Friday.

Peterhansel won his second stage, the 78th of his unparalleled career in the Dakar, but Sainz trailed him to the finish outside the Saudi capital Riyadh only 93 seconds behind.

The 477-kilometer route south from Ha’il on open desert saw drivers press their accelerators for at least four-and-ahalf hours, though defending champion Nasser Al-Attiyah was slowed at the end and conceded more than three minutes.

That dropped second-placed Al-Attiyah to eight minutes behind Sainz overall, while Peterhansel was 16 minutes back.

Local driver Yazeed Al Rajhi was fourth on the stage and fourth overall, nearly 37 minutes behind.

“I need the rest day now,” Sainz said.

His Mini teammate Peterhansel agreed.

“It’s more mentally tiring,” the French said.

American rider Ricky Brabec maintained his motorbikes lead heading to the rest day on Saturday, improving it to more than 20 minutes, overall.

Brabec won his second stage at the head of a bunch, including Joan Barreda, Matthias Walkner, Pablo Quintanilla, Luciano Benavides and Jose Ignacio Cornejo.

Overall, Brabec led from Quintanilla, followed by defending champion Toby Price more than 25 minutes back, then Barreda and former champ Walkner.

Price lost more than 16 minutes after a back-wheel problem about 30 kilometers from the finish. Kevin Benavides, who started the day third overall, saw his title hopes disappear when his engine broke down near the end, too, and he lost more than three-and-a-half hours.

Racing resumed on Sunday. The race ends next Friday. AP

Tannehill was well-covered on a 3-yard TD catch from Kenny Stills but tumbled into the end zone.

Brady bounced back from his drop in the Super Bowl and caught a jump pass from Julian Edelman in November 2018, but tripped and fell before gaining a first down. Brady had a 36-yard catch from Amendola against Philadelphia in December 2015.

All of these plays began in shotgun formation because quarterbacks aren’t eligible to catch passes if they line up under center. Most of the plays involve someone coming around the end and some

include a double pitch.

Chicago’s Chase Daniel had an 8-yard catch on a different type of play last season. Daniel threw a backward pass to Anthony Miller lined up wide to his right. Daniel then ran out and caught Miller’s return throw.

Drew Brees once caught a TD pass from LaDainian Tomlinson for the San Diego Chargers. Joe Flacco, Russell Wilson, Marcus Mariota and Blake Bortles also have made catches in recent years.

Nothing tops the one Foles made in Super Bowl 52.

“We worked on it for a long time, and we executed it perfectly,” Foles said. “That’s probably the best it looked. So, we hit it at the right time.”

Buffalo Bills quarterback Josh Allen (17) catches a pass for a touchdown as Houston Texans strong safety Jahleel Addae defends during the first half of their wild-card playoff game last week. AP

Shock defeats put Barcelona Coach Valverde on hot seat

B

ARCELONA, Spain—Barcelona had once again played great, led through goals by Lionel Messi and Antoine Griezmann, yet still managed to let it slip away.

Barcelona squandered one of its best performances of the season by conceding two late goals to Atlético Madrid, falling 3-2 in the semifinals of the Spanish Super Cup in Saudi Arabia.

Messi and Griezmann had put Barcelona deservedly ahead 2-1 on Thursday. But the goalkeeping of Jan Oblak, Atlético’s star this season, kept Barcelona out for the rest of the way until Álvaro Morata leveled with a penalty kick in the 82nd minute and Ángel Correa completed the dramatic turnaround in the 86th minute.

For Barcelona, the chance to add a minor trophy from a mini-tournament played thousands of miles away is not the main worry. The concern is Barcelona’s odd knack of losing control of games that look like a sure victory. Whether it’s a question of overconfidence, a lack of fitness or just momentary lapses that cost the team dearly, the pressure is on Coach Ernesto Valverde.

Messi and other team leaders defended Valverde, whose very good overall record at Barcelona has been blemished by shocking defeats.

“It’s normal that when you lose and don’t reach your objectives, and when our fans see that the team is not playing like they would like, that people talk and say things,” Messi said. “We have to be more united than ever, remain a strong group and get through this.

“This year, we will try to play like we did today [before

the late goals], and not commit childish errors like those we committed.”

But that didn’t stop the Spanish sports media reporting on Friday that Barcelona club officials met with midfield great Xavi Hernandez in Doha, Qatar, to probe him as a possible replacement for Valverde either now or next season.

The club confirmed to The Associated Press that its representatives met with Hernandez, but said the meeting had already been arranged before the loss to Atlético. It would not elaborate on the nature of the meeting.

Hernandez left Barcelona in 2015, following 17 trophyladen seasons, for Qatari club Al-Sadd, where he coaches.

The speculation that he could soon be returning home led to Al-Sadd saying no move was imminent.

“The issue of Xavi going to Barcelona is normal and expected because he will be at his club, and it’s his first home and he must return there in the future, but as of today, Xavi is the coach of Al-Sadd.” Al-Sadd General Manager Turki Al-Ali said in a statement on the club web site.

“Xavi and his team are focusing on tomorrow’s match against Al-Rayyan, and we know that a club with the size and professionalism of Barcelona will take to official channels to speak of such matters,” Al-Ali said.

Barcelona’s loss at the King Abdullah Sports City on Thursday came five days after it conceded an 88th-minute equalizer at Espanyol in the Spanish league. The late goal by Wu Lei also came on a desperate counterattack similar to both of Atlético’s late attacks that led to goals, when Barcelona’s back line was out of sync and let a pass through to a player

with only goalkeeper Norberto Murara Neto to beat. Wu’s goal ruined a superb match by Luis Suárez, who had scored with a fine touch and made a difficult pass for an assist.

Suárez also backed Valverde on Thursday by taking the blame for the stumble against Atlético.

“This loss shows we have room to improve,” the Uruguay striker said. “It shows us that there are mistakes that we can’t make because we were in charge of the game, and we let them mount counterattacks...but the coach is not at fault.

They were mistakes that we made.”

Barcelona has drawn three of its last four league matches, but still lead the competition on goal difference ahead of Real Madrid. The team was leading before finishing 2-2 at Real Sociedad last month; lost 3-1 at Levante after Messi had put them ahead in November; and gave up a goal in the 81st in a 2-2 draw at Osasuna in August.

Those setbacks would not be as worrisome for Barcelona if the team had not completely collapsed in the Champions League in recent seasons, most recently a humiliating 4-0 loss at Liverpool after winning the first leg of the semifinals, 3-0. Valverde’s job was then in even more jeopardy at the end of last season after Barcelona lost the Copa del Rey final to Valencia, casting a shadow of doubt over the Spanish league champions. Club President Josep Bartomeu, however, has stuck by the former player who is known for his intelligence and unflappable attitude.

Valverde is in his third season at Barcelona. He has won back-to-back Spanish league titles and one Copa del Rey final. A European Cup has eluded him. AP

WHETHER it’s a question of overconfidence, a lack of fitness or just momentary lapses that cost the team dearly, the pressure is on Coach Ernesto Valverde. AP

D

Saving God

EAR God, in Your light we see light. In company with Saint Lucy we pray to You: Oh God, let all the peoples praise You. Illumine the minds and hearts of all people, that we may protect and reverence life from conception to natural death. Restore the light of faith to those who have suffered violation of their trust. Heal the sick, guide the confused, love the unloved and counsel the troubled. May the Lord accept our sacrifice of a humble heart, and lead us to glory in the everlasting light of God’s face. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

AND THEN SOME: A ‘REAL’ WOMAN’S SKIN-CARE ROUTINE DISSECTED D4

Monday, January 13, 2020

D1

IT was key for Stephen Curry that building the Curry 7 was the combination of energy return from UA Hovr and responsiveness underfoot for quickness on court.

Under Armour launches Curry 7 TEAL blue tulle gown with deep V neckline and skirt of cascading ruffles, paired with a nude halter glitter lace dress embellished with strands of silver bugle beads

BRIGHT yellow mikado column gown with a deep-pointed sweetheart neckline.

Accented with asymmetric as drape across the bodice, and embellished with cut lace, and Swarovski crystals running vertically across the bodice, and an asymmetric ruffled peplum cascading on one side of the gown

SILVER fringe Art Deco-style lace gown with silver metal belt

Radiating French ‘savoir faire’

A

T 22, Marc Rancy was a designer to watch, and was deservedly featured in the pages of this paper for his polished fashion pieces, as well as for his shrewd business sense.

“My goal as a créateur de mode has always been to make women stand out. I want them to walk into a room, and make them the center of every man’s fantasy.... Hopefully, through my dress, she realizes her worth and radiates sensual bliss with confidence that men will inadvertently put her on a pedestal, not only because the dress is beautiful, but because she really is,” Rancy said in 2008.

He set a clear trajectory for his designing career.

He studied at the Raffles Design Institute in Singapore and practiced his craft in Manila, one of the few younger talents who was president of his own

company. In 2014, he took a dual degree masters in fashion and luxury management at the IÉSEG School of Management and at the Istituto Marangoni in Paris.

“My stint in Paris has definitely remolded my view when it comes to design. A cleaner aesthetic that focuses on lines and fabric manipulation as opposed to simple surface designs, and veers away from what is considered traditionally beautiful in Philippine standards,” Rancy shared. “Paris has instilled in me the worldly beauty of fashion, and how it can help boost a woman’s confidence and grace even if there is little to none of those beads and crystal embellishments.”

After his 18-month course, he worked for fashion brands Véronique Leroy and Acne Studios at their Paris headquarters.

“I was part of a team of commercial representatives. We’re the ones in charge of talking to and selling the new collections of the brands to buyers, like Harvey Nichols, Net-a-Porter, Joyce, Lane Crawford, among others. The work took us from the fashion week showrooms to coordinating and tracking after-sales management,” Rancy explained.

After staying in Paris for four years, he returned to the Philippines in early 2018 and relaunched his eponymous label. He also teaches at the fashion department of the De La Salle-College of Saint Benilde’s School of Design and Arts as an adjunct professor. What he’s focused on, nowadays, is a

forthcoming charity gala with the Friends for Cultural Concerns of the Philippines, a group of vibrant and strong-willed ladies who saw “the need to bring together a group of advocates who are passionate in preserving, enriching, and promoting the arts and culture in the Philippines.”

The gala, which commemorates the group’s 40th anniversary, will be on February 24 at the Shangri-La Makati. Rancy will be joined by designers Ronaldo Arnaldo, Ruben Santos and Edgar San Diego. “[Our designs take] inspiration from the ‘La Divina,’ herself, Imelda Ongsiako-Cojuangco’s youthful and spunky demeanor when it comes to fashion. We will be showing more than just her signature feathers,” Rancy shared, “but also her bold choices when it comes to the form and function of clothing. The whole thing will be immaculate, pristine, but it will also be sexy and jovial...just simply divine!”

What is your vision for your brand in 2020?

“I envision the brand to see through so many more women, helping them achieve their truest sense of beauty.” ■ PHOTOGRAPHER: Mark Neto Diaz HAIR AND MAKEUP: Junie Sierra of The BLOC Salon BGC MODELS: Bronja Ales and Alisa Sazonova CLOTHES: Marc Rancy, 129 Katipunan Avenue, White Plains, Quezon City; www.marcrancy.com

Soccer champs wear BOSS FOUR of the most successful soccer teams in Europe—namely, Real Madrid C.F., Paris SaintGermain, FC Internazionale Milano and FC Bayern—are being outfitted by the luxury fashion brand BOSS by Hugo Boss (www.hugoboss.com).

The campaign underscores the attributes of quality, confidence, and excellence that the brand and teams embody. Each team will be playing at Europe’s highest level this season, and the brand takes pride in sponsoring such a high-achieving

portfolio of squads.

The looks will go from formal to casual, with the pieces designed to be mixed and matched.

All tailoring is from the BOSS Create Your Look collection, which allows the players to create an impeccably tailored look by combining jackets and trousers of the same fabric across different sizes and fits. In the Philippines, BOSS is exclusively distributed by Stores Specialists Inc. (www.ssilife.com.ph).

The suits are cut from pure double-dyed wool that contains a natural stretch for high comfort and flexibility. For the players, these tailored looks are finished with slim ties featuring their respective club logos.

Sports tailoring is showcased, combining the elegance of tailoring with functionality inspired by the performance found in sportswear. The result is a fusion of style and quality, with a comfortable feel and relaxed look.

AMERICAN brand Under Armour continues working on its vision to inspire with performance solutions, and its relentless pursuit of innovation through the recent release of the Curry 7. In the Philippines, the Curry 7 is available in Under Armour stores in SM Mall of Asia, SM Megamall, Bonifacio High Street, Greenbelt 3 and TriNoma.

Stephen Curry, a three-time NBA champion and two-time MVP, has made one thing clear—he isn’t slowing down as seen in his recent season records.

He says, “Like a lot of players, I’m always working on movement and fluidity, my range of motion, and how I can be more efficient with my footwork and balance.”

As Stephen continues to evolve, Under Armour is by his side. “Key for me when we were building the Curry 7 was the combination of energy return from UA Hovr and responsiveness underfoot for quickness on court,” he says.

While developing Stephen’s seventh signature shoe, the Under Armour design team challenged themselves to match his innovative style of play and make all players better on court. Share Paul Winsper, Under Armour VP of Athlete Performance: “We are constantly analyzing data around Stephen’s game, and use those insights to inform his footwear each season. We have to design a shoe that will keep Stephen on the court all season long, and enable him to break his own records year after year. A shoe that will match his innovative game, and power athletes around the world.”

The Under Armour design team took the data from Stephen’s one-of-a-kind game, and started working from the inside out when ideating on the Curry 7. The data pointed to a need for a system that would be as dynamic as Stephen’s on-court play, but adaptable to any athlete striving to get better: something that would enable any athlete in the shoe to cover more ground, respond faster and stay quicker for a longer. The result is the unique combination of two proprietary and acclaimed Under Armour foam technologies: UA Hovr and Micro G. Under Armour designer Leon Gu says, “We started with UA Hovr foam at the top, and then added Micro G at the bottom. Both materials are separated and perfectly balanced by the flexible plate.

UA Hovr foam is made up of several layered materials that provide reinforcement in zonal areas for comfort, stability and mobility. Micro G is bouncy and responsive. The combination allows for extra lift and energy return.”

D2

Monday, January 13, 2020

Style

BusinessMirror

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Liam Hemsworth, 30; Orlando Bloom, 43; Patrick Dempsey, 54; Julia Louis-Dreyfus, 59.

Happy Birthday: Get ready to take action. Initiate change, look for a way to expand and make whatever comes available work to your advantage. Keep emotional matters in the background, and let whoever is making a fuss to chill out before you make suggestions or offer help. Make your life, goals and needs priorities, and you will find satisfaction and success. Your lucky numbers are 8, 15, 22, 29, 33, 35, 41.

a

ARIES (March 21-April 19): Put additional effort into how you earn your living and handle your financial affairs. If you decide to make a move or change, keep it to a minimum and stay within your budget. Personal improvement is favored. HHH

b

TAURUS (April 20-May 20): You have options. Set expectations and goals that are doable. Check out courses or apprenticeships that interest you. Look for a better position, or a way, to cut your overhead or invest wisely.

Having a safety net will ease stress. HHHHH

c

GEMINI (May 21-June 20): Check out any offer that comes your way. Mixing business with pleasure will be difficult. Someone you feel responsible for will use emotional tactics to get his or her way. Don’t feel guilty; do what’s right. Pay attention to health issues. HH

Renee Zellweger in Giorgio Armani

Nicole Kidman in Atelier Versace

Charlize Theron in Dior Haute Couture

Jennifer Lopez in Valentino Couture

Joey King in Iris van Herpen Haute Couture

Plenty of pink, puffy sleeves and shimmer at Golden Globes N

By Leanne Italie The Associated Press

EW YORK—There was plenty of pink, puffy sleeves and a touch of neon on the Golden Globes red carpet as the stars shimmered and shined on Sunday, January 5, on one of the award season’s biggest nights for fashion. And then there was Jennifer Lopez, in Valentino Couture with a huge gold and emerald green bow at the bodice, her hair piled high in a high braided bun and her jewels—all 145 carats of Colombian emeralds and 58 diamonds—courtesy of Harry Winston.

The Lopez look included a voluminous white gown under that statement bow. While she toted plenty of fabric, Gwyneth Paltrow was traveling light in a bronze, two-piece Fendi look of sheers over sheers.

Skin was exposed with a statement necklace thrown into the mix.

Reese Witherspoon (white Roland Mouret), Jennifer Anniston (black Dior) and Nicole Kidman (red Versace) were among the stars who went classic Hollywood. Charlize Theron took a risk that paid off with a draped sash on one shoulder in neon green and a black bustier underneath.

Pink had a moment in soft hues for Kirsten Dunst (Rodarte) and Dakota Fanning. Isla Fisher and Tiffany Haddish went for bold hot pink, while Margot Robbie showed off a burst of encrusted color in a strapless top with a white column skirt below by Chanel, her hair loose and beach wavy.

Chokers were abundant, from Theron to Cynthia

Erivo, the latter wearing a huge blue stone at the center of her short necklace.

Erivo’s hand-beaded custom Thom Browne gown was tuxedo-inspired in black and white. The Harriet star and fashion standout said the dress includes designs of her favorite flower, the peony, at the hem and in her lining. The short-sleeve look took 800 hours to create.

Jodie Comer, from Killing Eve, sported another fashion trend of the evening—puffy sleeves—in emerald green. Kidman represented for the reds in a strapless look with subtle draping and a short train.

So did Scarlett Johansson in a longer train and bustle bow custom look in crimson from Vera Wang and Olivia Colman in custom raspberry from the Emilia Wickstead Collection (big sleeves, check).

Lucy Boynton, a proven young Hollywood fashion star, wore a silk and velvet custom Louis Vuitton embroidered with glass beads. It had a high collar, strong shoulders and was belted at the waist. Gugu Mbatha-Raw stunned in metallic golden yellow sequin dress from Gucci, her hair cropped, while Zoe Kravitz went for dots—smaller ones on top and large ones on the bottom of her dress, courtesy of Saint Laurent by Anthony Vaccarello.

Kravitz wasn’t the only star to reach for a pattern.

Taylor Swift showed up in a power print from Etro.

It was a custom look in navy silk jacquard with a floral design of huge blooms. Cate Blanchett went architectural in a Mary Katrantzou gown.

Renee Zellweger, who stars in Judy, chose a strapless soft hue of blue, and Kerry Washington was bold in a black look with an open chest covered in a

d

CANCER (June 21-July 22): Do your best to help those in need. Your input will make a difference, as well as give your reputation a boost. Time spent with someone you love will bring you closer together. A change will end up being to your benefit. HHHH

e

LEO (July 23-Aug. 22): Stick to what works best for you. Don’t expect everyone to be happy with your decision. Do something that physically challenges you. Blowing off steam will lower your stress, and encourage strength when dealing with sensitive issues. HHH

f

VIRGO (Aug. 23-Sept. 22): Do something that brings you joy. Focus on dealing with outsiders who can offer something new and exciting. It’s time to do things your way, and stop worrying about what others think or do. HHH

g

bedazzled strap design secured on mesh for a near naked look, thanks to Altuzarra. Michelle Williams was dressed in Louis Vuitton, a custom look in soft orange with one dropped shoulder.

And the men?

Andrew Scott, the “hot priest” from Fleabag, left his cream tuxedo jacket unbuttoned for interviews and wore a huge smile on his face during his first trip to the Globes, a dark curl falling over his forehead.

Billy Porter, the Pose nominee and fashion trailblazer, failed to disappoint in an epic long train in cream. It was adorned with white feathers and attached to a tuxedo jacket in the same hue. It’s a custom look by Alex Vinash and—bonus—the train zips off.

“It is a dinner, and I do have to sit down,” he smiled.

Porter’s gear took three months to create, well before nominations were announced.

“It’s really odd to have to work on clothes before you’re even nominated,” he said.

The gender-bending star and singer carried a mirrored bag by Emm Kuo, with a diamond dragon fly on one lapel by Tiffany & Co. Fred Leighton had a big night, providing jewels for Meryl Streep, Aniston, Kidman, Dunst and Rooney Mara, to name a few. So did Harry Winston, who also adorned Helen Mirren ($4 million worth), and Joey King, along with a slew of others.

King wore one of the evening’s most interesting looks: an optical swirl of black and white stripes.

It was a short dress with a ruffly cape effect and a delicate high collar that continued the lines. The designer was Iris van Herpen Haute Couture. n

LIBRA (Sept. 23-Oct. 22): An emotional situation will surface if you ignore what others are trying to ask for or tell you. Honesty will help you handle a difficult situation. Take one step at a time.

A day trip will be enlightening. HHH

h

SCORPIO (Oct. 23-Nov. 21): Quicken your pace, and get your plans rolled out. Start to put your ideas in motion, even if you feel unprepared. Cast your fate to the wind, and follow your heart. Your effort will serve you well. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): You may think you know what’s unfolding emotionally, but someone will take you by surprise and leave you questioning what’s happening. Don’t overreact or exaggerate. Keep the peace until you have verified what’s going on. HH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t wait; put your plans in motion, and don’t look back. Know what you want, and go after it wholeheartedly.

Stay on top of situations that can affect your emotional well-being, but don’t give in to anyone trying to manipulate you. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Consider your options. Contact people who can help you.

Think about partnering with someone who can bring new life to an old plan. Channel your energy into development, hands-on help and using your skills, and experience, to bring about change. HHH

l

PISCES (Feb. 19-March 20): You’ll make a good impression if you help others. How you handle change will make a difference to the outcome of a situation that harbors resentment.

Be smart—listen, observe and make well-thought-out decisions. Don’t give up on your dreams. HHH Birthday Baby: You are forceful, encouraging and meticulous.

You are practical and responsive.

‘shh!’ by frank virzi

The Universal Crossword/Edited by David Steinberg ACROSS 1 Crunchy deli sandwich, briefly 4 ___ Jones 7 Pothole filler 14 Scuba gear attachment 16 Certain clam 17 Picked up from a field trip?

18 Tightly packed fish 19 Person from Jaipur 20 “True ___!” (slangy “Indeed!”)

21 Rice or Sexton 22 Bible book whose title anagrams to “raze” 23 Votes in favor 25 Kvetching cries 26 Beyonce, to Jay-Z 28 Fish-fowl link 30 Rembrandt’s The Night Watch, e.g.

32 Notable period 33 Cowboys quarterback Prescott 34 Wavy corn chips 38 Stir up 40 Get the show on the road 42 Fully cooked 43 Fortify 45 “Uh-uh”

6 Legume Mendel studied 4 47 Hump day follower: Abbr.

48 “How about that!”

49 ___ prof.

50 Key often pressed after Ctrl 53 To be, in Le Havre 55 ___ Reader 57 Silver controller?

59 Former POTUS Coolidge 60 Sisters’ daughters 63 Eco-friendly holder of groceries 65 Word sung in ads featuring LiMu Emu 66 Set free 67 Johns 68 Confirm, as a password 69 Stuff edited by CRISPR 70 Famed boy king DOWN 1 Indonesia’s Island of the Gods 2 Property right 3 Expo 4 Tunisian money 5 Sure thing in a courtroom 6 Married 7 Test for purity

8 Annual speech that a designated survivor doesn’t attend 9 Part of WPM 10 “Mary ___ little lamb...”

11 Acid type in proteins 12 1974 biopic about comedian Bruce 13 Arboretum sights 15 Tournament award 20 2000s Jessica Alba series with gothic themes 24 Address for a knight 26 Used to be 27 Wrinkle remover 29 Muffin grain 31 Pot-draining aid 35 Hush-hush, and a hint to the starred answers’ starts 36 Two in 11?

37 Pew, for one 39 Like a glowing jack-o’-lantern 41 Singer Carly ___ Jepsen 44 Revolutionary Guevara 49 Slippery as ___ 50 Pianist Rubinstein 51 Sierra ___ (Guinea neighbor) 52 Duke or earl

4 Wild party, slangily 5 56 It’s thicker than the fibula 58 Gas for signs 61 Question to Brutus 62 The “S” of iOS: Abbr.

64 Spam producer 65 British Inc.

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Monday, January 13, 2020

D3

FROM left: Jet Montelibano, Eva Caparas, Vicky Sevilla-Pangilinan, Kuh Ledesma, Fe de los Reyes and Angeli PangilinanValenciano of Music & Magic.

TINA FEY and Amy Poehler

Bye, Ricky Gervais: Poehler, Fey to host 2021 Golden Globes PASADENA, California—Tina Fey and Amy Poehler will share host duties for the Golden Globes ceremony in 2021.

Poehler, herself, shared the announcement at a TV critics meeting on Saturday, just a week after the ceremony aired with Ricky Gervais as host.

“There are no two funnier people anywhere,” said Poehler, who introduced herself with the name of an NBC publicist who was to have opened the network’s daylong presentation about its programming.

A tongue-in-cheek Poehler said the network was glad the pair found time in their busy schedules to take on the Globes. They have hosted three times before.

At last Sunday’s ceremony, Gervais’s snarky jokes in his fifth turn as host received mixed reviews and reactions from the celebrity audience. Poehler and Fey earned a warmer reception for their comedic approach.

Gervais repeatedly said during the ceremony that it was the last time he intended to emcee. A total of 18.3 million viewers tuned in, a small drop over the 18.6 million who watched the 2019 ceremony cohosted by Sandra Oh and Andy Samberg.

“There’s no denying that Tina and Amy’s comedic chemistry is infectious,” said Lorenzo Soria, president of the Hollywood Foreign Press Association, which bestows the TV and movie awards. “We can’t wait to see the dynamic duo return to the Golden Globes stage.”

Poehler joked that she couldn’t wait to present the best film award to the video, “Puppy Dog Bouncing in the Box Like This.”

NBC is keeping her busy: The network announed Saturday it’s renewed the craft show Making It, hosted and produced by Poehler and Nick Offerman, former Parks and Recreation castmates.

The date for next year’s Golden Globes will be announced later, NBC said. AP

Of magical memories and a rare musical reunion

I

WAS still in college when I first caught Music & Magic, the highly esteemed show band that performed beautiful cover songs in their repertoire. It was at the Alibi Bar of the then Regent of Manila, a hotel gutted by a tragic fire in the mid-1980s and, which later, became The Heritage Hotel. After college, I left for advanced studies overseas and when I came back in the late 1980s, the very first concert I watched was Music & Magic at the then very new Music Museum, where I also met venue owner Precy Florentino for the first time. Tita Precy, as I fondly address her, and I would meet again many years after when I started to pursue my career in entertainment and lifestyle journalism.

That was one unforgettable concert for me since during one of their production numbers, the performers came down to the audience and pulled any

24 Oras

KARA Mia

one they fancied to the stage to dance with them. I was on an aisle seat near the stage, and Fe de los Reyes lost no time in pulling my arm and led me to dance with her onstage. The dweeb in me initially froze, but her adrenaline was so powerful and potent that it passed on to me automatically. So I found myself dancing with her onstage—the first time I ever did something like that in public.

After that experience, I would make time to watch their shows and, almost always, the song that would stay on with me after I left their many performance venues was “I Can’t Help Myself [Sugar Pie, Honey Bunch],” originally by Bonnie Pointer. The song was fun, fast-paced and fabulously sung by this talented bunch. I reckon that it was an unwritten rule for the show band to choose pieces and numbers that were vocally, and visually, edgy, colorful and cool. Even their wardrobe matched their consistently highenergy performance levels.

Music & Magic would choose hits of the glorious 1980s, songs from Broadway, classics and standards, and weave their own musical flavor that turned each act into something always memorable, undoubtedly theatrical and almost magical.

Tomorrow, January 14, will be one rare magical night at the Newport Performing Arts Theater of the Resorts World Manila as the members of Music & Magic are all in town to stage an exceptional musical reunion.

Jet Montelibano, Kuh Ledesma, Eva Caparas, Angeli Pangilinan-Valenciano, Vicky SevillaPangilinan, Toto Gentica, Butch Elizalde, Nonoy Mendoza, Bobby Taylo, Jeannette Casuga-Trevia and de los Reyes will all take the stage by storm once more to relive the many unforgettable years as the premier show band of the country.

Destiny led each of the members to pursue their own happiness and careers, although most of them have stayed on in the entertainment scene. Montelibano, who is also directing the show tomorrow, is US-based and is working for an accounting firm while also acting, producing and directing for TV, events and theater. Caparas and Mendoza are also based in the West Coast. Trevia is one of the most sought-after musicians in Hawaii. De los Reyes continues to sing and perform in the Asian circuit and North America.

Sevilla-Pangilinan is the head of the dental department of St. Luke’s Medical Center-Quezon City, Taylo has been the in-house bassist of ABS-CBN’s Sunday variety show ASAP for 25 years now, and Elizalde has been with the Route 70 Band for 17 years.

Valenciano heads Manila Genesis Entertainment, and Management and GV Productions Inc. and manages the careers of many fine artists, including her husband Gary.

It has been 40 years, and the magic of their music lives on. Three cheers for Music & Magic. n

SAHAYA

GMA topped TV ratings in 2019 BEEFED up by its ratings dominance across day parts, media giant GMA Network successfully remained to be the viewers’ station of choice in Urban Luzon and Mega Manila throughout the year 2019.

January to December Nielsen TV Audience Measurement data (with December 22 to 31 based on overnights) showed that GMA recorded a 35.5-percent total day people audience share, outscoring ABS-CBN’s 30.4 percent in Urban Luzon.

The viewer-rich area accounts for 72 percent of all urban viewers in the country.

Building the momentum in the morning slot with a 28.1 percent, GMA won against rival network’s 25.8 percent. This continued in the afternoon slot with GMA’s 36.7 percent versus ABS-CBN’s 30.9 percent. GMA further toppled its competitor in the evening block with 37.7 percent, while ABS-CBN got

31.9 percent.

Likewise, in Mega Manila, which accounts for 60 percent of all urban viewers in the country, the GMA posted a 36.6-percent total day people audience share compared to ABS-CBN’s 28 percent based on official data from January to December 21.

Furthermore, in December 2019 alone, GMA posted a 33.7-percent total day people audience share in Urban Luzon as against ABS-CBN’s 28 percent, while the former led by a bigger margin with 34.2 percent versus the latter’s 26.4 percent in Mega Manila (with official data from December 1 to 21).

The award-winning magazine program Kapuso Mo, Jessica Soho (KMJS) cemented its position as the mostwatched show nationwide in 2019. Similarly, KMJS reigned supreme in Urban Luzon’s list of overall top programs for the previous year.

More GMA shows also took the slots in the 2019 top-rating list. Joining KMJS were Onanay, Sahaya, 24 Oras, Kara Mia, Cain at Abel, Magpakailanman, Daddy’s Gurl, Pepito Manaloto, The Gift, TODA One I Love, The Clash, Beautiful Justice, StarStruck, Daig Kayo ng Lola Ko, One of the Baes, The Better Woman and Love You Two. Meanwhile, GMA ushers in the network’s 70th year with a powerhouse lineup of all-new primetime offerings that viewers should watch out for beginning the first semester of 2020.

The TV adaptation of the hit 1984 movie Anak ni Waray vs. Anak ni Biday starring Barbie Forteza, Kate Valdez, Snooky Serna and Dina Bonnevie kick-starts the network’s roster of upcoming shows.

Next in line is the inspirational drama Love of My Life, top billed by Carla Abellana, Mikael Daez and Rhian Ramos, together with Coney Reyes and

Tom Rodriguez in a very special role.

Set to debut on Philippine TV this year is the much-awaited local adaptation of hit Korean series Descendants of the Sun, headlined by Dingdong Dantes and Jennylyn Mercado. Joining them, as well, are Rocco Nacino and Jasmine Curtis-Smith.

Completing the network’s first-quarter primetime offerings is the highly anticipated team up of Marian Rivera-Dantes and Gabby Concepcion in First Yaya.

Nielsen TV Audience Measurement’s client pool covers a total of 32 clients/subscribers consisting of six local TV networks, including ABS-CBN, TV5, Aksyon TV and CNN Philippines, among others; three regional clients; two blocktimers; and 21 agencies (17 media agencies, three consulting agencies and one digital agency).

D4

Style

Monday, January 13, 2020

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A ‘real’ woman’s skin-care routine dissected W

HEN it comes to makeup, it’s not difficult to be swayed by things we see on social media and real life. A girl wearing a red lipstick can easily make me buy that product. I remember how years ago, the bright pink lipstick that Bea Alonzo wore on a TV drama made me buy several similar shades from different brands.

But skin care is another matter. It is not one-sizefits-all. What works for another person might not work for you. I remember how this influencer and skin-care expert was such an advocate for this toner. It was because of her that this toner became a skin-care favorite among many of her followers. Sadly, I broke out because of it.

But I make an exception for certain people. There is this girl who works in the communications industry who has really amazing skin.

According to her friend and colleague, the girl, who is a mom to three kids, has a multistep skin-care regimen that would shame the most fastidious beauty expert.

So anyway, here is this lovely lady’s regimen. It is indeed a regimen, considering that she has kids and a career. Also, I love how she included tips on how to use some of the products.

MORNING 1. Facial cleanser: Senka Perfect Whip (the blue one), Pixi Glow Mud Cleanser 2. Cleansing/PH balancing toner: Acwell (Sometimes I use my Cosrx BHA if I use retinol the night before or if I have time to wait 10 to 15 minutes) 3. Toner/Essence booster: Sulwhasoo First Care Activating Serum (this is like a prep or booster prior to hydrating toners) 4. Hydrating Toner: Sulwhasoo Balancing Water 5. Toner soak: Pyunkang Yul Essence Toner. I usually do the seven-step toning method but it takes too much time so I do a soak instead; I soak a cotton pad with Pyunkang Yul Essence Toner and spray it with Mario Badescu Facial Spray (you can do without the Mario Badescu also) with aloe and rosewater, and leave it on my cheeks for five to seven minutes while I do my eyebrows and dress up.

6. Serum booster: Hada Labo Goku-jyun Premium

Lotion. This is packed with hyaluronic acid and acts as a booster for the serums.

7. Cosrx Advanced Snail Mucin 96 Power Essence 8. Vitamin C serum: The Ordinary Vitamin C Suspension 23 percent + HA 9. Eye cream: The Ordinary Caffeine Solution, Sulwhashoo Concentrated Eye Cream 10. Moisturizer: Sulwhasoo Essential Balancing Emulsion 11. Facial oil: Huxley Secret of Sahara, Laura Mercier Infusion de Rose Nourishing Oil 12. Sunblock: Shiseido Clear Stick UV Protector EVENING 1. Oil-based cleanser/balm: Lush 7 to 3, Shu Uemura/Banila Co balm, DHC Deep Cleansing Oil 2. Facial cleanser: Senka Perfect White Clay (Pixi Glow Mud Cleanser) 3. Exfoliate (one to two times a week): Klairs Sugar Scrub, Neogen peeling pads 4. Cleansing/PH balancing toner: Acwell 5. Glycolic toner: The Ordinary Glycolic Acid 7 percent 6. Acids (I alternate days between AHA and BHA combo and retinol), (BHA and AHA combo), Cosrx Blackhead Power Liquid. Wait 20 to 30 minutes. The Ordinary Lactic Acid 10 percent. Wait 20 to 30 minutes.

(Retinol) The Ordinary Granactive Retinol .5 percent.

Wait 30 to 45 minutes. If you use retinol, best that skin is dry. So after using cleansing/balancing toner, wait 20 to 30 minutes before applying retinol.

7. Toner/Essence booster: Sulwhasoo First Care Activating Serum. This is like a prep or booster prior to hydrating toners.

8. Hydrating toner: Sulwhasoo Balancing Water 9. Toner soak: Pyunkang Yul Essence Toner 10. Serum booster: Hada Labo Goku-jyun Premium Lotion 11. Cosrx Advanced Snail Mucin 96 Power Essence 12. Vitamin C serum: The Ordinary Ascorbic Acid Powder. I mix this with either No. 9 or No. 10. Try to check how your skin reacts cause you’re not supposed to mix this with acids. In any case, you can just use vitamin C in the morning with loads of sunblock.

13. Eye cream: Sulwhasoo Eye Cream 14. Sheet and eye mask 15. Ampoule For days when you feel your skin is super dehydrated. This is a dupe for the Kiehl’s Midnight Recovery Concentrate Serum: Missha Time Revolution Night Repair Ampoule 16. Moisturizer: Hada Labo Goku-jyun Premium Milk 17. Facial oil: Laura Mercier Unfusion de Rose Nourishing Oil 18. Sleeping mask/packs (for when you feel as if your skin needs additional hydration): Cosrx Overnight Honey Mask, Sulwhasoo Overnight Vitalizing Mask ■

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E1

How corporate cultures differ around the world W

By J. Yo-Jud Cheng & Boris Groysberg

firms exhibited an especially strong emphasis on results, goalorientation and achievement.

Relative to other regions, enjoyment ranked highly in South America. Firms in Asia, Australia and New Zealand were more likely to be characterized by interdependence and coordination. In these regions, we found workplaces that embodied caring, and a sense of safety and planning. Particularly in Asia, we found many firms that emphasized order through a cooperative, respectful and rule-abiding culture.

hen we launched an online assessment to allow Harvard Business Review (HBR) readers to explore their own organizations’ cultural profiles, we received over 12,800 responses from across the globe. The assessment gave us a window into the shared, pervasive, enduring, and implicit behaviors and norms that permeate an organization (rather than individual employees’ own culture styles).

through innovation, agility and an appreciation for diversity. In contrast, many firms in Eastern Europe and the Middle East were characterized by a strong degree of stability. An emphasis on safety was prevalent in these regions, revealing the prioritization of preparedness and business continuity. Particularly in the Middle East, we found many firms in which authority ranked highly.

Responding to change

How people interact

We found that organizations in Africa exhibited substantial flexibility. Many organizations in this region were characterized by learning and purpose, indicating an openness toward change

It can be informative to take stock of how our own work styles mirror or differ from regional c u lt u re pat ter n s, es pec i a l ly when considering how our behaviors and actions will be perceived by others.

What does this mean for managers?

Chernetskaya | Dreamstime.com

Differences across regions

In this global sample, some patterns were remarkably consistent across regions. On average, caring ranked highly across all regions, while authority ranked among the least salient culture attributes. However, when we examined whether certain culture styles were more heavily represented in specific regions, some interesting dif ferences came to light.

What does this mean for employees?

Firms in Western Europe and in North and South America leaned toward a high level of independence. This tendency manifested itself in different ways. Western European and North American

Don’t mistake execution for strategy

By Graham Kenny

A

busine ss i nvolved i n conducting clinical trials for medical and pharmaceutical companies recently sent me a copy of their strategic plan for review in preparation for a forthcoming strategic planning workshop. I studied the nine pages carefully. But despite its promise to outline the company’s “mission, vision, strategies, and actions,” the document contained no real strategy.

Strategy design involves detailing positions to take on what

I call strategic factors. These are the decision criteria used by key stakeholders, i.e., the criteria used by customers in deciding to buy from a business, or by employees in deciding to work for an organization or by suppliers in deciding to supply to a company.

Strategy design must take place at the organization level. Executive teams struggle with strategy design because they don’t adopt organization-level thinking at the start. They rush to execution at a strategy retreat, because they invariably arrive ready to address what they need to do. Unless the

doing impulse is switched off, until design is ready, the cart gets put before the horse.

What any planned workshop has to achieve is clarity on the company’s positioning on the strategic factors for its key stakeholders and a stripping away of nonessential actions, leaving only those which clearly drive these positions. To do that you need to shift the executive team’s thinking— away from individual action and up to organizational positioning.

In preparation for your next strategy retreat, recognize that underpinning the essential dif-

ference between strategy design and execution is level of analysis.

While most participants may be unaware of it, it is one of the most important and useful concepts in social science. Strategy design operates at the organization level.

Strategy execution operates at the individual level. If you don’t make this distinction, you’ll be committing the error of mistaking individual action for strategy.

And that can be disastrous.

Graham Kenny is managing director of Strategic Factors, a Sydneybased consultancy.

Dear HBR: On how to handle troublesome teammates

By Amy Gallo

Q

uestion: I successfully referred a friend’s friend to be my peer on my team. We’re under the same manager. She was very appreciative of the referral and was very friendly when I trained her on the job. However, shortly after I finished training her, she turned around and tried to compete with me, and became very aggressive and sneaky.

What should I do?

Answer: One of my first instincts in any conflict situation is to try to think about it from

the other person’s perspective.

Annie McKee, the author of How to Be Happy at Work, says you need to have cognitive empathy (the ability to understand another person’s perspective) to “unearth your curiosity” when someone is bothering you. Ask yourself: What’s motivating your peer to behave this way?

What could be going on here?

You may not have the answers to these questions, so you should consider gathering more information and figure out whether others in the office perceive this woman in the same way you do. People may be having a similar reaction and

© 2020 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

not telling you because they know you referred her.

If you find out that she is actually well-respected, don’t try to convince everyone that she’s a jerk. Try to understand why others may be working well with her when you aren’t. Is there something about the dynamic between you two that’s causing problems? You might consider having a direct conversation with her to try to clear the air.

When you talk to your coworker, be specific about what’s happened and how it’s made your job harder. And then ask her how she sees the situation.

That said, I suspect that that

conversation might not go well.

It’s always better if you can solve the issue yourself without your manager stepping in. If you find that the conversations with your peer, and your boss, don’t change the situation, you’ll need to protect yourself and change your mindset. Otherwise, this is likely to eat you up inside. And have some self-compassion. Remember: It’s much easier to try to change your reaction to someone than to change them.

Adapted from an episode of “Dear HBR.” Amy Gallo is a contributing editor at Harvard Business Review.

Particularly when managing global teams, employees’ implicit values and beliefs can lead to misunderstandings and tension. Cultural considerations also come into play when motivating employees, designing incentive schemes, training new employees and implementing decision-making processes.

J. Yo-Jud Cheng is an assistant professor at the Darden School of Business. Boris Groysberg is a professor at Harvard Business School.

Is China Actually Stealing American Jobs and Wealth?

By John L. Graham & Benjamin Leffel

T

he current US administration sees China as the United States’s principal global rival, and it has effectively declared economic war on the country. Its justification is largely that China is stealing American jobs and pirating American intellectual property.

Data collected by the Long US-China Institute suggest that China is far less guilty of these crimes than many policy-makers and commentators would have us believe.

The US granted Permanent Normalized Trade Relations, or PNTR, to China in 2000 and, in the following year, China joined the World Trade Organization (WTO). Neither event hampered the steady growth in purchasing power for Americans, whose per-capita gross national product rose from $37,900 to $62,600.

The story on jobs is less clear, but it’s hard to argue that trade with China has had much impact on US payrolls. The US unemployment rate had reached a 30-year nadir of 4.0 percent in 2000, just before China’s admission as a PNTR and WTO member. The unemployment spike we saw in 2009 is probably best explained by the 2008 to 2009 recession, and, since then, unemployment has steadily declined to a rate (3.9 percent) lower than that reached in 2000.

Few would conclude from this that trade with China has damaged US

incomes or jobs.

What about intellectual-property theft and corruption? China has offended on these fronts. There have been well-documented cases of IP theft and bribery. But the data shows that Chinese practices are improving.

There are, of course, concerns that some Chinese firms are weaponizing the US patent system to hobble US innovation in key technologies—notably Huawei, which boasts an impressive 56,492 patents worldwide. But a breakdown of comparisons of US patents granted to individuals by country provides a reassuring empirical context for interpreting the headlines.

What’s more, on a per-company basis, the 1,628 US patents granted to Huawei in 2018 are hugely overshadowed by Samsung’s 9,245, IBM’s 9,100, and more than 2,000 each for Intel, Microsoft, Apple, Google and Amazon.

To be sure, China and the United States are not without their troubles. Both countries are showing stubborn growth in their carbon footprints and military spending, to name just two disturbing trends.

But the data of the last 25 years portray US-China commerce as the most synergistic bilateral relationship in world history, bringing peace along with mutual prosperity.

John L. Graham is a professor at the University of California, Irvine, where Benjamin Leffel is a doctoral candidate.

Education BusinessMirror

E2 Monday, January 13, 2020

Over 2M Filipinos finished tech-voc from Tesda in 2019

By Roderick L. Abad @rodrik_28

A

Contributor

total of 2,185,109 Filipinos has finished free technicalvocational (tech-voc) courses in 2019, the Technical Education and Skills Development Authority (Tesda) reported.

Last year also saw the agency’s active involvement in major government programs.

President Duterte has tapped the agency in leading the Poverty Reduction, Livelihood and Employment Cluster (PRLEC) under Executive Order (EO) 70, which established the whole-of-nation approach in ending local insurgency, providing for a national task force to achieve inclusive and sustainable peace and order.

With this, Tesda strengthened and expanded its services throughout the countryside.

A total of 7,930 former rebels and 107,614 indigenous peoples (IPs) and cultural communities were given free skills training last year.

As a result, 1,992 ex-rebels and 9,266 IPs find employment and livelihood.

Regional PRLEC in Caraga and Davao, on the other hand, have established enterprise village and convergence store facilities, respectively.

They have been distributing related start-up tool kits and providing various skills training.

On June 17, 2019, Duterte signed EO 83 that approved the adoption of the National Technical Education and Skills Development Plan 2018-2022.

Tesda has, likewise, extended its services abroad through the Tesda Overseas Assessment Program in countries where there are many overseas Filipino workers (OFWs).

There were 2,315 and 1,977 assessed and certified OFWs, respectively, last year—the highest number so far recorded since the program started in 2014.

This translates to an 85.40 percent certification rate.

The OFWs who were certified competent were given Tesda National Certificates (NC) and/or Certificates of Competencies.

The assessments were conducted in Dubai and Abu Dhabi in the United Arab Emirates; Hong Kong; Jeddah and Riyadh in Saudi Arabia; and Singapore.

This figure was up by 174 percent compared to 2018 output and almost the same as the total number of assessed OFWs in the last five years.

Last year’s output also accounted for 46.33-percent share of the overall number of OFWs assessed and certified since 2014.

In 2019, Tesda Director-General Secretary Isidro Lapeña also placed the agriculture as among the priority sectors of the agency in terms of scholarship allocation.

He said: “The prioritization of agriculture and agri-related skills training will help the country achieve food security.”

Tesda’s appropriation for agriculture trainings last year was 88.32 percent higher than in 2018, benefiting a total of 152,289 scholars who received related skills trainings.

The agency also intensified its initiatives in the construction sector, its second-highest priority. Some 84,022 individuals were given construction and construction-related skills training, including on-site training in partnership with the industry and the Department of Public Works and Highways.

Meanwhile, Tesda has lessened the process-cycle time (PCT) for certain major services.

For instance, the PCT for program registration was reduced from 20 to three working days, while trainees who passed the assessment can now receive their NC in seven working days from 14 working days.

The PCT for training regulations has also been mitigated using the “Adopt and Adapt” strategy, benchmarking the process with interna-

tional competency standards and methodologies and, at the same time, validating with domestic industry requirements.

“For 2019, we worked hard to improve the institutional capacity of Tesda to deliver services to the public, true to our guiding principle, ‘Tesda Abot Lahat,’” Lapeña said.

As such, the agency instituted new guidelines in the distribution of scholarship allocation to beef up its own Tesda Technology Institutions (TTIs).

Around 132 Tesda administered schools and training institutions were able to implement Tesda scholarship programs last year from only 95 in 2018.

The TTIs also received over P280 million in Training for Work Scholarship Program funds in 2019, translating to a 163-percent hike from its 2018 budget.

About 655 vacant positions were filled last year, among which are 218 teaching positions. Lapeña’s request of 996 additional manpower complement was also green lighted.

The Web-based 911Tesda and Tesda mobile app was also launched last year. The former is a free Webbased program linking certified workers and NC holders to job opportunities, as well as the general public to household services both provided by partner digital/online service platforms.

The former is a free application downloadable from Play Store and app store that contains easily accessible information about Tesda services.

“People transacting with the government or seeking basic social services—should do so without difficulty. This is the principle behind these new and innovative projects of Tesda,” Lapeña said.

HK parents eye Singapore schools as protests linger

N

orth London Collegiate School has been educating girls in the British capital since the days of Queen Victoria. These days, it’s looking further afield—to Singapore. And, as chance would have it, the timing seems impeccable.

The private school is seeing a rush of interest in its new outpost from anxious expats in Hong Kong, who are sizing up options for their children given the running protests in the former British colony.

One international school in the city-state said applications from Hong Kong have increased by about one-quarter.

Singapore has plenty of advantages for expats. The city-state’s political stability, high education standards, green spaces, low crime and efficient infrastructure make it appealing for those considering a change of scenery.

“Singapore has a sound reputation internationally in terms of livability,” said Jason Tan, an associate professor at Nanyang Technological University’s National Institute of Education. “With the current situation in Hong Kong, families are looking to move elsewhere.”

Monthslong pro-democracy protests that show no sign of ending have disrupted the Asian financial center, crippling its economy and seriously hurting the retail and hospitality sectors.

Goldman Sachs Group Inc. estimated in October that as much as $4 billion may have flowed to Singapore due to the turmoil, while real-estate brokers from Canada to Australia say they’re seeing a surge in interest from people looking to relocate.

Since August, when the violence intensified, school placement consultancy ITS Education Asia in Hong Kong has received four inquiries a week on average about schools in Singapore.

School talks

Parents are “worried about their children traveling to school and how safe it is to be traveling on public transport,” Director Anne Murphy said.

Murphy, who is based in Hong Kong, was invited by four financial companies to conduct talks on Singapore’s international schools because employees have been offered the option of relocating.

While she wasn’t able to disclose the name of

the firms, she said the talks focused on the choices of international schools available, admissions process and waiting lists.

Each was attended by around 12 to 20 parents, most either lawyers, traders or fund managers.

The majority were expats, including American, Indian, British and French nationals.

“Even those without Singapore visas were accepted through our help,” Murphy said, adding ITS often recommended schools that could sponsor a student with a guardian visa.

Students need to be formally accepted by a school before they can apply and obtain a student visa. They need not necessarily be accompanied by a working adult.

But under Singapore immigration laws, parents accompanying a child studying in the citystate can obtain a visa or what’s called a long-term visit pass, which is valid for up to two years. The visa can be applied for by either the mother or grandmother of the child.

Student pass

According to the Ministry of Manpower’s web

site, the guardian isn’t allowed to work during their first year in Singapore. That’s to encourage them to spend more time helping their child adjust to Singapore’s education system.

Murphy said that parents she’s worked with were keen on schools that also help to apply for a student pass. This is less of a hassle and means families can move to Singapore quicker, she said.

ITS assisted one family get their six-year-old child, who had a Hong Kong passport, accepted into two schools via this method.

“The parents chose a school that had an immediate place for January and the student pass was issued within six weeks after the offer from the school,” she said.

A six-day shutdown of schools in November, prompted by fresh levels of violence, is another reasonparentsarecastingtheireyesabroad.They’re angry that their children were unable to travel to school, despite living nearby. Especially when school fees have burnt a small hole in their pockets.

Stamford American School Hong Kong charges about HK$178,000 ($22,850) a year for students up to grade five. That jumps to almost

HK$200,000 for grades six to nine.

Hong Kong International School charges around HK$216,000 for younger students and up to HK$245,950 for children in grades six to 12.

These costs are “quite extravagant and significant if your child is unable to attend school,” Murphy said.

Not cheap

During the November shut down, the Singapore American School received inquiries from families wanting to enroll their children as soon as possible, according to Director of Admissions Treena Casey. Others were inquiring about getting their children in the door from August, the start of the new school year.

But the move isn’t always smooth, or cheap.

Most of Singapore’s international schools have long waiting lists and prices rival Hong Kong.

At the Singapore American School, students who are non-US citizens cost as much as S$54,800 ($40,620) a year depending on the grade. The Canadian International School in Singapore charges up to S$40,900. Bloomberg News

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Classes resume in Iloilo schools affected by Ursula

I

LOILO CITY—The Department of Education in Iloilo (DepEdIloilo) said classes have resumed early last week in northern municipalities in the province, which were recently hit by Typhoon Ursula (international name Phanfone).

This, despite the Christmas typhoon which has left partial, major and total damages in some 556 classrooms in the northern Iloilo towns, said Dr. Roel Bermejo, DepEd-Iloilo schools division superintendent, in a phone interview.

Balasan Central Elementary School in Balasan town, however, resume its classes later last week as clearing operations in the school premises are still ongoing.

“There were big trees that need to be cleared out in the premises of Balasan Central Elementary School and this we see as danger to the children if we resume classes early,” he said.

Meanwhile, Bermejo said 393 of the 556 classrooms in the northern towns were partially damaged, 143 with major damages while 20 were totally damaged.

Damages include blown off galvanized iron sheets, toppled posts, damaged windows, among others.

Fourteen of the totally damaged classrooms are from Carles town, three from Estancia, two from Batad, and one from San Dionisio.

The 556 damaged classrooms did not hamper the classes since the schools have prepared alternative spaces to hold lectures.

“There is available structure like learning resource centers, other classrooms in the schools, and gym-

nasiums which were used to hold classes,” he said.

Typhoon Ursula also left damages on textbooks and other learning materials, Bermejo said.

Officials of the DepEd were deployed on the field to assess the damages on classrooms and learning materials that will be the basis of assistance that will be requested from the department’s central office.

“There were textbooks that were left to dry after the typhoon and some of these can be used again.

We will submit a list of destroyed or damaged learning materials to the central office,” he said.

Some schools outside northern Iloilo also have buffer stocks of learning materials, which can also be sent to affected schools, he added.

The school heads and teachers also have preparations to assist students who have lost their school supplies to the typhoon.

“Our principals and teachers have automatic response in case there are students who do not have school supplies,” he said.

Bermejo said some primary schools in the northern towns have prepared pencils and other materials for writing for the students to use.

Northern Iloilo includes the towns of Ajuy, Balasan, Barotac Viejo, Batad, Carles, Concepcion, Estancia, Lemery, San Dionisio, San Rafael and Sara.

Besides these towns, classes in the rest of the 42 towns and one component city in Iloilo province resumed last week, Bermejo added. PNA

Education for constructive change

By Jens Waltermann Inter Press Service

L

ONDON—We saw a hugely diverse selection of world leaders—from civil society, politics and business—seeking positive change at the UN General Assembly in New York in September. But the global reality is a political and economic environment that is increasingly divided. Boycotts. Protests. Narratives of hate.

The newly launched Davos manifesto on the universal purpose of a company in the fourth industrial revolution and the Business Roundtable in August call for leaders and companies to shift their attention from solely focusing on shareholders to including stakeholders.

Yet, we have spent the past five years discussing the UN Sustainable Development Goals (SDGs). And now we only have a decade to reach them.

Whether it is the need to increasingly work together across industries, sectors and borders, or to broaden the role of business as a contributor in society, it is clear that tomorrow’s leaders need to be educated differently.

The world needs citizens who are empowered to act, who see that they have a role to play in reaching the UN SDGs. Students from very different backgrounds, who have lived, studied and solved problems together.

We need students who will become entrepreneurs, social entrepreneurs and leaders. We need to educate “responsible leaders.”

Education is the tool to create constructive change and here are three reflections on how:

Education needs to focus on the questions that will start conversations

Students can ask many thoughtful questions, wherever they are empowered to do so.

Questions that challenge and expose inaccurate assumptions and all too easy answers, questions that create serendipitous learning, and questions that lay the foundations for difficult conversations.

Education is uniquely placed to instill the right mindset for this and create places for meaningful conversations between students from different backgrounds.

In our divided world of black and white perceptions and statements, we can teach students to think critically, to appreciate diversity and to build bridges across differences.

By encouraging students to ask questions and ask why, they will challenge what is around them.

With the transition to the circular economy, we need to not only pick plastics from the beach, but teach students to ask why the plastic got there in the first place.

What is wrong with the current system? How can the products not only be reused and recycled,

but designed so that the materials never leave the cycle?

By asking questions like these, I am certain that we as educators will spark creative thinking among our students, and create change makers for the future. Perhaps, even social entrepreneurs today.

Education must engage students outside the classroom

Boycotts and sanctions in the political and economic space must not affect the education of our children. As much as conflicts may arise in politics and business, education needs to lay the foundations for tomorrow’s peace building.

And classroom education is only one part of the puzzle: what happens when you create an environment where students help elderly people at the local nursing home, support slum children to attend school in India or even carry a paralyzed fellow student to the top of the mountain on the school’s annual hike?

Or when social entrepreneurship is encouraged and the students invent a method to recycle plastics from the ocean? This sort of education holds the fabric of society together. We must not let that fabric tear, but rather strengthen it by weaving creativity, action and service into education.

Education must embrace cultures and celebrate diversity

By asking questions to a student from another country, studying history next to a refugee or enjoying each other’s music, you learn the true value of being different. In a world of soundbites, slogans and superficial statements, we need time together to converse, question and understand.

We need to put faces to abstract questions and events around the globe.

I see students graduate from our schools, go on to university and later take on jobs in governments, businesses or in civil society.

With the challenges that we are facing, we need public private partnerships, people who can work together, not just because they have to, but because they know the value of bringing very different people around one table.

So, as children that were initially portrayed as apathetic continue to march in the streets, speak at the UN and put pressure on the world’s leaders to act, we must ensure that we continue to foster their efforts with a shift in education that arms them with a strong sense of purpose and the skills to facilitate constructive change.

That will equip them as better citizens and as the responsible leaders we need as we enter into the next decade. The last decade to reach the UN Sustainable Development Goals.

(Waltermann is executive director of United World Colleges International.)

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What are the top Pr trends for 2020?

PR Matters

Toxawww | Dreamstime.com

By Millie F. Dizon

Sincerely, Deanna Y. Dear Deanna, Happy New Year! Yes, 2020 will not only be the start of a new year, but also a new decade. That brings us much hope, but also so many challenges.

That’s because the practice of public relations, like everything else—fashion, entertainment, corporate life—is constantly changing. And we have to go with the flow to succeed.

While we cannot be precise about the future, we can look at industry trends that will serve as our guideposts as we navigate the waters of 2020. In an article in PR Daily, Melissa DiGianfilippo and Alexis Krisay share with us their 20/20 vision: The top 5 emerging trends in marketing and PR, which we hope will be helpful to you.

Melissa, who is president of public relations for Serendipit Consulting, and Alexis who is president for marketing, acknowledge that “with so many factors in play, and new platforms and technologies springing up, many industry pros are wondering what to expect;” and then list five trends which they see as dominating marketing and PR efforts in the new year.

New Business: VMLY&R Named Customer Experience and Data Strategy Partner for Home Appliance Manufacturer, Electrolux Asia SINGAPORE—VMLY&R, the global brand experience agency, has been appointed as the Customer Experience and Data Strategy partner for Swedish multinational home appliance manufacturer, Electrolux, to enhance customer experience across the brand’s digital platforms.

Consistently ranked as the second-largest appliance maker in the world, Electrolux specializes in creating products that help people to live happier, more sustainable lives.

VMLY&R Singapore will work with Electrolux to enhance the brand’s digital capabilities across Asia, with a special focus on Electrolux’s digital channels,

starting with the brand web site.

VMLY&R won the business via competitive tender and has been working with the brand to develop an analytics framework which is the foundation to propel the brand toward a “data-driven ecosystem,” The data will feed into driving both marketing efficiency and customer experience enhancement; with a view to higher digital conversion and brand desirability. The digital experience will also look at the whole consumer journey, including owner experience across digital platforms for Electrolux customers across Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.

Since appointing VMLY&R Singapore in summer 2019, Electrolux has taken the decision to expand the agency’s scope of work in foundational data and analytics, which will see the agency working on a marketing dashboard for the brand across Australia, North Asia, and the Middle East and Africa, from January 2020.

Kevin Levine, digital director, Apac MEA, Electrolux, said, “We are confident that with VMLY&R on board as our strategic and consultative partner, we will be

interactive content 1Anexplosion.

“Content marketing will shift focus to give people what they want,” say Melissa and Alexis. With that, “expect to see more augmented/virtual reality; gamified quizzes and polls, online events, and shoppable posts.”

If you’re spending on content, “make it interactive, or you won’t keep your customers engaged,” as “more than 90 percent of buyers are begging for more interactive content.”

2New roles for chatbots.

According to Amanda Pressner Kreuser in an article in Inc.com, like Siri for brands, chatbots are quickly rising as a “new voice” in consumer communications.

With this, “savvy brand marketers will be using chatbots and other consumer insights to springboard innovation and inspiration for developing products and services,” say Melissa and Alexis. This futuristicsounding customer service tool can help businesses build deeper relationships with their customer base.

How is this so? It’s about asking “the right questions, and your digital team can learn more about consumer likes and dislikes, gather real quotes from consumers, and create authentic, meaningful engagement.”

3

A social-media influencer shake-up. The last decade

saw the rise of the social-media influencers, who “have been earning big money from branded and sponsored content.” But have they been worth the investment?

Melissa and Alexis see that “in 2020, the game will change for able to significantly strengthen our brand experience across all our digital platforms. Our web site plays a critical role in our digital strategy and we intend for it to deliver engaging ‘micro-moments’ which will surprise and delight throughout the customer journey.”

Gary Teo, managing director of Experience and Technology, VMLY&R Asia, said, “Most brands today are fighting for differentiation, while constantly striving to make every dollar of marketing spend work harder for them. Our approach to a data-driven marketing system keeps a relentless focus on customer experience for brand differentiation; geared up to deliver business results for our clients.

We are excited to partner with a marquee brand like Electrolux on this digital journey centred around data, CX and technology.”

Film: VFX Legion Enhances the Effects Impacting the Ominous and Eerie Look of Holiday Horror Film ‘Black Christmas’ Led by VFX Supervisor James David Hattin, VFX Legion’s global team of artists created all of the

those who have bought ‘likes’ and falsified engagement, because they aren’t showing brands a valid, measurable return.”

They observe that “consumers are no longer buying into influencers who rep brands that aren’t authentic to them.” And brand managers are adjusting their media mix accordingly, as they get “smart about verifying influencers and tracking ROI.” With that, “expect to see more micro-influencers being favored over macro-influencers.” Now that’s a real shake-up!

standing’ becoming standard.

4‘Brand

Brand standing, say Melissa and Alexis, stems from deep, authentic values shared by an organization and its consumers. This is in contrast to grandstanding, which is often about showing off and gimmickry.

They cite studies that show that consumers feel stronger connections and are more loyal to companies willing to take a major position on major issues and less to those that stay out of the fray. In an increasingly polarized world, “expect to see more consumers holding brands’ metaphorical feet to the fire, as they’ll often patronize brands that share their values.

personalized brand experiences.

5Enhanced

There will continue to be a lot of buzz about personalization in the coming decade. In fact, Seth Arenstein says in an article in PR News online that “Personalization Dominates PR Pros’ Predictions for 2020.”

“The theme that arises more consistently in the 2020 predicvisual effects for Black Christmas, the second remake of the classic holiday horror film. Blumhouse Productions returned to the LA/ B.C.-based company for a range of digital shots—from blanketing the exterior scenes with CG snow to adding visual effects that augment the ominous look of the supernatural villain.

Black Christmas is the story of a group of sorority girls who are being stalked and killed off, one by one, by a masked stranger during Christmas break. Refusing to be victims, coeds Riley Stone (Imogen Poots) and her Kappa Mu Epsilon sisters decide to fight back and put an end to the rampage of terror.

Shot in New Zealand, The University of Otago was transformed into the fictitious Hawthorn College in small-town America. Snow, an essential element of the film’s seasonal setting, was fabricated during the production but fell short of the authentic look Director Sophia Takal envisioned. VFX Legion met the challenge, digitally transforming the exterior footage into a realistic winter-white environment.

“Our biggest challenge was

Wrightstudio | Dreamstime.com

D

ear PR Matters, Since 2020 will not only be the start of a new year, but also a new decade, what can we—as PR practitioners—look forward to this coming year?

I work in a boutique PR agency, and have seen how things have changed through the years. It will be very helpful if you can share some insights with us.

tions is personalization,” he says. This highlights “technology’s ability to help PR pros create personalized experiences for stakeholders,” as well as “the importance of personalizing pitches to media.”

Melissa and Alexis, likewise, recognize the role of technology in enhancing “individualized recommendations to put curated, highly targeted ads directly before individuals who are most likely to buy.” They add that these new technologies can help savvy marketers “better understand customers and motivations for buying at each point of the sales funnel.”

Hope that gives you 20/20 vifinding a look that blended with the practical snow to create seamless final shots with a realworld feel,” adds Hattin.

VFX Legion’s matte painters added 3D snow on trees, front yards, streets, the mountainous background and other elements.

Some of the details dealt with digitally included adding textures left by footprints and creating natural-looking accumulations of snow.

Early on, it was clear that the human-looking supernatural villain needed a more demonic look, while his overall appearance remained grounded in the real world. Legion added a subtle reddish glow to the pupils of the killer’s eyes. Developed by the director and editor, the effect gave the antagonist a distinctly evil look, clearly differentiating him from the general population.

A variety of CG elements augmented the original footage.

The masked man shoots a computer-generated arrow that virtually flies across a room as the girls flee. The arrow was designed based on reference photos using Maya, which was also used to light and animate the look and velocity of the projectile. Tracking

sion about PR trends.

PR Matters is a roundtable column by members of the local chapter of the United Kingdombased International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie F. Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com. artist Ruy Delgado matched the stunt arrow’s trajectory with the camera moves.

The reign of terror ends when a girl pushes over an ancient statue containing a “black goo” that is the source of the villain’s other-world powers. Using Maya’s Bifrost, Legion’s artists simulated the liquid sludge splashing out of the head of the effigy as it shatters into pieces.

“Over the years, Blumhouse Productions has called on Legion to create the visual effects for a long roster of thrillers,” says Hattin. “Our team appreciates the opportunity to work in the horror film genre. We really enjoy coming up with innovative solutions that meet the challenge of enhancing the realism of scary scenarios.”

“For Black Christmas, Legion assembled a team tailored to the film’s specific needs from our global network of highly skilled artists,” says VFX Executive Producer Reid Burns. “Our ability to quickly ramp up Legion’s collective of talent enabled us to deliver a large number of highquality visual effects that the movie required and meet its tight deadline.”

Perspective BusinessMirror

E4 Monday, January 13, 2020

www.businessmirror.com.ph

Trump, like Obama, tests the limits of presidential war powers

WAX statues of Barack Obama and Donald Trump at Madame Tussauds in Hong Kong. PINDIYATH100 | DREAMSTIME.COM

By Sarah Burns | Rochester Institute of Technology

T

THE CONVERSATION

O many observers, President Donald Trump’s decision to kill a senior Iranian general is yet another example of his unique impetuousness and determination to go it alone in his foreign policy.

Congress has begun to take steps to reel in Trump’s independence.

There are important similarities between Trump’s action and the decision by President Barack Obama to attack Libya in 2011.

Both acted unilaterally without much apparent concern for Congress’ role in military actions, a topic I discuss in my recent book, The Politics of War Powers.

But there are some pretty significant differences, too.

Congressional power

THE Constitution reserves for Congress the power to declare war. However, after World War II, several presidents—including John F. Kennedy, Lyndon Johnson and Richard Nixon—initiated military operations without congressional approval. They claimed that they could take military action short of actual war through their constitutional capacity as commander-in-chief of the military. Often they also said they needed to support UN or Nato allies who were using force.

By 1973, Congress wanted to reclaim its authority. Over President Nixon’s veto, bipartisan supermajorities passed the

War Powers Resolution, requiring presidents to get congressional permission in advance of military action that goes beyond defending against an actual attack.

There are two loopholes, though: If the president does take unilateral action, he must inform Congress within 48 hours. And the president can initiate and carry out military operations for up to 90 days even without congressional approval.

Obama attacks Libya and Congress wags a finger

IN 2011, the Arab Spring movement saw citizens across North Africa and the Middle East call on authoritarian regimes to become more democratic.

Many leaders in the region responded with violent crackdowns on protests, some of which appeared to violate the protesters’ human rights. Due to the especially violent repression in Libya, the United Nations Security Council authorized countries to take “all necessary measures” to protect the protesters there.

Without informing or con-

sulting Congress, as the Constitution and the War Powers Resolution require, Obama launched airstrikes against Libyan armed forces on March 19, 2011, alongside Nato allies. Two days later, the president formally informed Congress of his action.

Only a few hawkish Republicans supported the president’s unilateral action. Most Republicans criticized the move. Sens.

Richard Lugar and Rand Paul decried Obama’s actions as unconstitutional, claiming he had encroached on legislators’ war powers. Michigan Congressman Justin Amash said, “When there is no imminent threat to our country, he cannot launch strikes without authorization from the American people, through our elected representatives in Congress.”

Some Democrats also criticized Obama’s action. Ohio Congressman Dennis Kucinich and other liberal Democrats went so far as to file a lawsuit against him, objecting to the use of military force without congressional approval.

Obama’s Cabinet members and the Pentagon coordinated with each other and Nato allies to organize the operation, but the operation took time. As the airstrikes passed the 90-day mark, Obama didn’t follow the War Powers Resolution’s requirement to pull troops out.

Instead, he sent a State Department lawyer, Harold Koh, to Congress to explain that their US military actions didn’t actually amount to the sort of “hostilities” defined by the law.

Koh’s testimony took a certain amount of criticism, but beyond wagging their fingers, senators did nothing to impede

or authorize Obama’s actions.

The House chastised Obama for failing to notify Congress, but a motion to pull all US forces out of Libyan action failed—with most Democrats choosing not to limit Obama’s unilateral action, even though it encroached on their legislative powers.

Trump’s drone strike

PRESIDENT Trump’s decision to order a lethal drone strike against Iranian Maj. Gen. Qassem Soleimani on January 3 has some similarities. They include both sudden, unilateral action by a president and sharp criticism from his political opponents.

But there are important differences that show how much farther Trump is willing to push the boundaries of his own individual power.

First, with Obama’s action, there was a humanitarian crisis and broad multilateral support.

But with Trump’s killing of Soleimani, there was no UN resolution calling for Soleimani’s death nor a humanitarian crisis.

Congress had already been worried about Trump taking unilateral military action: In April 2019, Congress tried to invoke the War Powers Resolution to pull US support out of Yemen.

And in December 2019, Congress tried to pass a defense spending bill that limited Trump’s ability to engage militarily with Iran. Missouri Republican Sen. Roy Blunt, along with others, objected to that proposal, however, saying he favored “flexibility” for the president. That objection won out over Congress asserting its war powers.

When Trump exercised that “flexibility” and ordered Soleimani killed, there was—as with Obama

—a great deal of congressional criticism. But this time, it was split along partisan lines.

Republican Sen. Jim Risch from Idaho praised Trump’s “decisive action” and the “successful outcome.” South Carolina Republican Sen. Lindsey Graham tweeted a threat to the Iranian government saying, “if you want more, you will get more.”

Conversely, Democratic House Speaker Nancy Pelosi worried that Trump’s action “risks provoking further dangerous escalation of violence.” Democrats demanded Trump consult with Congress and called on their fellow legislators to reassert their authority under the War Powers Resolution.

The Democratic-controlled House has approved a resolution that would limit Trump’s ability to fight against Iran. It is unlikely to make it through the Republicancontrolled Senate.

A new view of presidential power

TRUMP’S unilateral action stands out from his predecessors’ in part because of his apparent disregard for congressional power.

A week after the killing of Soleimani, Trump’s administration began to formally tell Congress about the strike on Soleimani.

In the meantime, the president unilaterally decided to send troops to Kuwait. He also claimed that sending a tweet about military force could serve as a formal notification of Congress.

Trump has claimed various authorities for the drone strike, including a 2002 law authorizing the president—then George W. Bush— to use military force in Iraq.

Trump has also said he acted against Soleimani to stop “im-

minent and sinister attacks on American diplomats and military personnel,” a justification that isn’t allowed under the War Powers Resolution, which only authorizes a response to an actual attack after it happens.

Public opinion may be a factor

WITH Congress bitterly divided along partisan lines, it’s clear the majority of senators—Republicans—will have veto power over any congressional effort to check Trump’s actions. If lawmakers do nothing, Congress will have effectively ceded its war powers to the president. If the dispute goes deeper, the Supreme Court would likely avoid getting involved, because it’s a dispute between the other two branches about their respective claims to constitutional powers.

The only remaining check would be popular opinion, which can rise and fall as national security crises unfold. But Trump’s popularity is unusually stable, leaving him free to act with the confidence that his base won’t abandon him.

The executive branch will continue to determine the course of action with Iran. On January 8, Trump himself told the nation, “As long as I’m president of the United States, Iran will never be allowed to have a nuclear weapon.” Without congressional restraint, what that means—and how he carries out that promise—rests entirely in Trump’s hands.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/trump-like-obama-teststhe-limits-of-presidential-warpowers-129528.