BusinessMirror January 21, 2019

PRIVATE ECONOMISTS WARY ABOUT INFLATION PATH IN 2019–B.S.P. POLL

P SO, MAYWEATHER’S NEXT? Manny Pacquiao proves he still got plenty of fight at 40 and flashes of his old speed in

winning a unanimous 12-round decision over Adrien Broner to easily defend his World Boxing Association welterweight title on Sunday at the MGM Grand in Las Vegas, Nevada. Whether Pacquiao’s dominating win over Broner gets him a rematch with Floyd Mayweather Jr., though, is a question that will have to be answered another night. Mayweather watched the fight from ringside, by the way. Story on C2-3. AP

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

RIVATE economists in the country remain wary about the country’s inflation path in 2019, as the latest results of the Bangko Sentral ng Pilipinas’s (BSP) survey of bank analysts show a still slightly elevated inflation projection for the year.

In its quarterly report on local inflation developments, the Central Bank said its survey of private bank economists across the country yielded a mean inflation forecast of 4.1 percent for 2019. While this is lower than the earlier projection of 4.3 percent for the year, it still breaches the BSP’s target range of 2 to 4 per-

cent for the year.

In particular, respondent banks during the period assigned a 44.8-percent probability that inflation will fall within the 2 to 4 percent target range, and a 53.6-percent chance that inflation will breach the upper end of the target.

The BSP’s survey of private economists had 27 bank economists in the country and was conducted between December 7 and 10 of last year. This means that their forecast has not yet been influenced by the latest inflation print for December 2018, which was released by the Philippine Statistics Authority (PSA) in the

See “BSP poll,” A2

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

Monday, January 21, 2019 Vol. 14 No. 103

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‘Economy likely grew at a slower pace in Q4’ 5.9% L

By Bianca Cuaresma

@BcuaresmaBM

OCAL economists may have opposing views on GDP growth in the fourth quarter of 2018, but their projections agree on one thing: the pace of expansion was likely slower compared to that seen in 2017.

See “Economy,” A2

The Country’s growth in OctoberDecember 2018, as projected

by ING Bank Manila economist Nicholas Mapa. This forecast would mean the country’s economy grew the slowest in 14 months

By Elijah Felice E. Rosales @alyasjah

UBSTANDARD steel is prevalent in Southern Luzon, local steelmakers have claimed, and they want the government to conduct an immediate audit of hardwares in the region.

The Philippine Iron and Steel I nst it ute (P i si) sa id nu mer ous hardware stores in Laguna, Cavite, Batangas and Mindoro Occidental are selling low-grade reinforcing steel bars. The alleged substandard products were discovered by Pisi in its recent market monitoring operations.

Pisi President Roberto M. Cola said the findings of the test buy operations are now with the Department of Trade and Industry’s Consumer Protection Group, and he expects no less than an immediate audit of the hardwares.

Pisi also asked the government to do its own market monitoring and standards enforcement checks in Southern Luzon. More than a dozen hardwares were named in the Pisi report as supposedly selling faulty rebars.

“We have also recommended to the Bureau of Product Standards to conduct an immediate audit and issue show-cause orders on the manufacturers that produced and sold the substandard rebars,” Cola said in a statement.

The Pisi report named Pampanga-based induction furnace maker

PESO EXCHANGE RATES n US 52.2880

See “Steel,” A4

BUSINESS NEWS SOURCE OF THE YEAR

JAN-NOV G.O.C.C. SUBSIDY UP 34.65% TO P134.47B

By Rea Cu

@ReaCuBM

S

UBSIDIES made by the national government to government-owned and -controlled corporations (GOCCs) and government institutions from January to November 2018 grew by 34.65 percent to P134.471 billion, from the P99.861 billion reported in the same period for 2017, Bureau of the Treasury (BTr) data showed.

For November alone, the government provided P8.086 billion in subsidies, coming from P5.961 billion in 2017, or an expansion of 35.64 percent.

The biggest recipient of the subsidy in November was still the Philippine Health Insurance Corp. (PhilHealth) with P2.762 billion, with the Philippine Economic Zone Authority (Peza) coming in second with P2.024 billion, and the National Irrigation Administration (NIA) as third, P1.693 billion.

Other GOCCs that received subsidies for November: Land Bank of the Philippines (LBP), P558 million; Development Bank of the Philippines (DBP), P351 million; Philippine Postal Corp. (PhilPost), P145 million; Center for International Trade Expositions and Missions (Citem), P101 million; Philippine Children’s Medical Center (PCMC), P90 million; the Philippine Heart Center (PHC), P72 million; Light Rail Transit Authority (LRTA), P58 million; and the National Kidney Transplant Institute (NKTI), P49 million.

Pira, PLIA see P900-M net worth rule reachable

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These steel products are used for construction of homes in these provinces—which are usually visited by typhoons, flash floods and, sometimes, earthquakes—and, thus, they need to use quality construction materials.”—Cola

Wan Chiong Steel Corp. as having the most number of violations, with six stores selling mostly underweight or with low elongation rebars. This was followed by CKU Steel Corp. with five stores allegedly carrying its underweight rebars.

The Pisi findings also accused Cathay Pacific Steel Corp.; Phil.

Koktai Metal Inc.; Continental Steel Manufacturing Corp.; Metrodragon Steel Corp.; and Real Steel Manufacturing Corp. of selling substandard steel in Southern Luzon.

“We are concerned that substandard rebars are being openly sold in the provinces of Mindoro, Batangas, Laguna and Cavite.

These steel products are used for construction of homes in these provinces—which are usually visited by typhoons, flash floods and,

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Chinese substandard steel in S. Luzon may be disaster risk–Pisi

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first week of January.

The BSP said that while analysts expect inflation to still remain elevated in the near term, their assessment of the balance of risks to the inflation outlook has shifted toward the downside.

Among the possible downside risks to inflation—or developments that could push inflation further downward—include lowerthan-expected global oil prices, further decline of food and nonfood items and the potential implementation of mitigating measures to address food-supply issues, such as rice importation.

but we have to hear and balance the problem being encountered by government with the illegal tobacco trade that is now lording it over since additional taxes have been enforced on the legitimate industry,” Sotto said in a text message to the BusinessMirror.

Angara admitted he was also inclined to back the bill.

OCAL insurance industry players are confident about being able to comply with the P900-million minimum net-worth requirement imposed by regulators for this year, but are asking for more avenues to be able to do business.

Asked if the nonlife insurance industry can meet the increased minimum paid-up capital requirement of P900 million for 2019, Philippine Insurers and Reinsurers Association (Pira) Executive Director Michael F. Rellosa said he sees most nonlife companies in the country complying with it.

On Friday, Insurance Commissioner Dennis B. Funa had himself expressed confidence that the majority of the players will be able to meet the higher threshold. Funa spoke at the 70th anniversary celebration of the Insurance Commission (IC).

“We don’t think its going to be a problem for the nonlife insurance industry,” Rellosa told the BusinessMirror in a phone interview at the weekend.

Rellosa explained that, while he cannot speak for all nonlife insurance players, he is aware that some of the nonlife insurance companies are looking to merge with other companies to be able to meet the paid-up capital requirement. He was quick to add that for any increases in what is being required of insurance companies in the Philippines, new avenues to do business must also be presented, to achieve balance.

See “Tobacco tax,” A2

Continued on A2

INSURANCE Commissioner Dennis B. Funa (left) and Supreme Court Senior Associate Justice Antonio T. Carpio walk to the venue of the 70th anniversary rites of the Insurance Commission at the PICC on Friday (January 18). Justice Carpio was guest speaker at the celebration. NONOY LACZA

Senators weigh options on tobacco tax hike

By Butch Fernandez

S

@butchfBM

ENATORS are seriously considering options on the plea of the country’s 30 medical societies to promptly pass pending legislation imposing a higher tobacco tax rate of P90.

This was confirmed over the weekend by Sen. Juan Edgardo

Angara, chairman of the Ways and Means Committee tasked to review revenue-related bills submitted for early approval.

Senate President Vicente Sotto III on Sunday also signaled his inclination to support the remedial legislation, when asked if he would back the medical societies’ appeal, but preached caution.

“I wish I could immediately,

n JAPAN 0.4787 n UK 67.9169 n HK 6.6670 n CHINA 7.7132 n SINGAPORE 38.5975 n AUSTRALIA 37.6264 n EU 59.5717 n SAUDI ARABIA 13.9409

Source: BSP (18 January 2019 )

News

BusinessMirror

A2 Monday, January 21, 2019

www.businessmirror.com.ph

Preps for May polls now 90% complete–Comelec

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By Samuel P. Medenilla

@sam_medenilla

ESPITE delays in the release of its final list of voters, the Commission on Elections (Comelec) said its preparations for the 2019 midterm polls are already 90-percent complete.

In a press conference, Comelec Spokesman James B. Jimenez said they were able to successfully set up the automated election system (AES) to be used for the May 13 elections. Aspirants for the Senate, House of Representatives and all local government units except the barangay have filed certificates of candidacy with the Comelec.

T hough Ji menez ac k nowledged the delayed release in the final list of voters, he added, “But you know in terms of the logistics, in terms of the structures, and partnerships—all of those are falling into place.”

On Saturday, Comelec was able to test both the software and hard-

ware components of the AES during a nationwide mock polls in 60 polling precincts.

The mock polls include the pilot testing of the Voter Registration Verification System (VRVS), which aims to reduce the identify checks for voters.

“So as far as being an evaluation tool is concerned, [the initial outcome] of the mock election is very good,” Jimenez said.

He did admit, however, there were still some minor problems—as observed during the activity—including the low turnout of voters in some areas and the lag in the blue tooth system of the VRV machines.

As of Saturday noon, all of the

mock poll results, except for those in three areas in Metro Manila, had already been sent to the transparency server of the Comelec at the Pope Pius XII Catholic Center in Paco, Manila.

The transmission of the result of polling precincts in Region 9 was slightly delayed because of cloud cover in the area, but was later completed before 1 p.m.

Ballot printing

JIMENEZ said the only remaining aspect of the 2019 polls they have to complete is the printing of around 61 million ballots, a task which relies on the release of the final list of voters.

“We hope it [final list] comes out next week.... As you very well know, it is the last 10 percent that takes forever,” Jimenez said.

The Comelec was originally scheduled to release the final list on December 15, 2018, before the tentative date for the printing of the 2019 midterm ballots from January 23 to 25 this year.

The poll body was forced to postpone it multiple times due to pend-

ing disqualification cases of some of the candidates.

Aside from the delay in the release of the list, he said the printing of the ballots could face yet more delays due to the ongoing construction in the National Printing Office (NPO), where the ballots will be printed.

“Our printing committee is assessing it this weekend. If they will see the construction will not cause dust, then we will proceed [with the printing]. Otherwise it may be delayed by a maximum of five days,” Jimenez said.

He explained the reason for the concern: the dust from the construction activity could affect the vote counting machines they will use to verify the ballots.

“This is the tedious part [of the ballot production] because each ballot will be fed to the machine...the dust might disrupt the verification machine,” Jimenez said.

Jimenez earlier said that as long as the date of printing of ballots proceeds as scheduled, their preparations for the 2019 polls will still be on time.

No bane to Mla Bay: DOF touts modern sewage treatment facility

By Rea Cu

@ReaCuBM

T

HE ongoing refurbishment of the Department of Finance’s sixstory central office along Roxas Boulevard in Manila includes a stateof-the-art sewage treatment facility that is now operational, way ahead of the Duterte administration’s program to rehabilitate the heavily polluted Manila Bay, the DOF reported.

In line with the President’s directive to the Department of Environment and Natural Resources (DENR) to rehabilitate Manila Bay, establishments surrounding the area, including the DOF, were instructed to put in place their respective sewage treatment plants (STPs) within three months or face sanctions.

Director Alvin P. Diaz, who heads the DOF’s Central Administration Office, explained that the DOF was “way ahead of the curve” in relation

Economy. . .

Continued from A1

Bank of the Philippine Islands (BPI) economist Emilio Neri Jr. believes that GDP in the fourth quarter likely grew by 6.4 percent.

This is higher than the 6.1 percent recorded in the previous quarter and the 6.2 percent in the second quarter.

However, ING Bank Manila economist Nicholas Mapa—in another Philippine growth assessment paper—said the country’s growth rate could have plummeted to 5.9 percent in the October-to- December period last year. This forecast would mean the country’s economy grew the slowest in 14 months.

The forecasts of Neri and Mapa were lower than the 6.6 percent GDP expansion recorded in the fourth quarter of 2017.

Neri argued that among the main drivers of a potentiallyhighergrowthinthefourthquarterof2018 istherapidgrowthincapitalformation,especiallyafter thegovernmentreportedthatinfrastructurespending rose by more than 40 percent.

The BPI economist also cited “early signs” of rebound in household final consumption, as sharp drops in the November and December inflation, coupled with the reduction in oil prices, likely bolstered consumer confidence in the fourth quarter. On the production side, Neri said there may have been a “modest recovery” in both agriculture and manufacturing sectors that benefited from improved weather conditions and lower oil prices.

“Improvement in corn output and a rebound in [farm] exports also seem to indicate a small turnaroundinoverallagricultureandmanufacturing performance last quarter,” Neri said.

While he warned of potential downside

to the ongoing rehabilitation efforts because its building now has its own STP that became operational in November 2018 using the latest technology in treating sewage water effluent discharged into Manila Bay. According to Diaz, Finance Secretary Carlos G. Dominguez III approved in 2017 the recommendation of the project design and management team in charge of the DOF Building refurbishment to include an STP isolated from the adjoining Bangko Sentral ng Pilipinas (BSP) compound, using the latest sewage treatment technologies. “ The DOF Building’s sewage treatment facility discharges effluent into the Manila Bay that is classified as Class C, which is fit for fishing and the propagation and growth of fish and other aquatic resources. This is the minimum standard of the DENR for water being discharged into the bay. We are now conducting tests to check what

risks from sustained weakness in exports and remittances in October and November for the demand side, Neri said the “potential improvement” in the fourth quarter of 2018 could be a “foretest” of a more convincing full-year growth recovery in 2019.

“Lower inflation and sustained robust expansion in capital spending will likely bolster growth to accelerate and settle somewhere between 6.6 percent and 7 percent for the whole of 2019,” he said.

ING’s Mapa was less sanguine, saying that higher inflation and the string of rate hikes by the Bangko Sentral ng Pilipinas posed a threat to the 14 straight months of above 6-percent GDP expansion.

“With 3 out of the 4 sources of growth seen to be challenged in the last three months of 2018, the string of above 6-percent growth prints for the Philippines is under threat,” Mapa said.

Mapa noted that as household consumption accounts for roughly 67 percent of the total output, the still-elevated inflation will likely challenge this sector.

The ING economist said the recent tightening cycle of the BSP likely affected investments and capital formation.

“On the trade front, net exports, or the difference between exports and imports, will likely pose a steeper drag on overall GDP, as well.

For October and November, the trade gap widened by 36.1 percent, yet another reason why the overall GDP print may be challenged,” Mapa said.

The upside risk to Mapa’s forecasts is government spending—as investment in infrastructure hit above 40 percent in November alone, it could be one source of growth that offset the other sectors. The Philippine Statistics Authority is expected to announce the country’s growth numbers on January 24.

still needs to be done so that our STP can meet the Class B requirement, which is fit for bathing and swimming,” Diaz said.

He said the STP and other environment-friendly features incorporated in the ongoing renovation could be considered a model for other government structures up for refurbishment.

“In fact, we are currently working for the DENR’s issuance of a discharge permit that will validate DOF’s compliance with existing rules and regulations,” he added.

On top of the STP, the DOF also uses LED lighting systems to minimize power consumption, and a building management system to monitor and control the building facilities such as its centralized air-conditioning and other equipment and utilities.

“Even the impressive glass envelope in front of the building serves a purpose, other than to be aesthetically pleasing. The glass cladding cuts the noise entering the building and

BSP poll. . .

Continued from A1

Upside risks HOWEVER, upside risks are also seen.

Among them: the volatility of global oil prices which could lead to a surprise tick-up in petroleum costs worldwide, the possible depreciation of the peso and the rise of geopolitical risks such as trade tensions between China and the United States.

For 2020, private economists’ aver-

Tobacco tax. . .

Continued from A1

“Yes,” Angara told the BusinessMirwhen asked on Sunday if they are heeding the medical societies’ appeal.

“That is why we scheduled a hearing as soon as we could.”

Concerned medical societies earlier sent signals they would campaign against lawmakers who will block passage of the remedial legislation intended to discourage smoking habits that have been blamed for the high incidence of cancer.

However, Sen. Aquilino L. Pimentel III clarified that senators would still need to go over the anticipated impact of the proposed remedial legislation seen to deliver a direct hit on the multibillion-peso tobacco industry.

“Let us look at all their studies.

How much would it [higher tax ror

also reduces the heat, which makes it energy-efficient,” he said.

The STP which costs P2.8 million to implement, is self-maintaining, thus incurring no maintenance costs for the DOF. “Among the government agencies with their STPs are the City Hall of Caloocan, the Casimiro Henares Hospital in Rizal, Antipolo Hospital, Langhari Public Market in Malabon, and the Molino Public Market in Bacoor, Cavite, to name a few,” he added.

Last week the DENR held a stakeholders’ meeting in preparation for the rehabilitation of Manila Bay. Some 200 representatives from national government agencies and local government units, including barangay units, attended it.

Environment Secretary Roy A. Cimatu said the Duterte administration is determined to rehabilitate the Manila Bay and will sue violators of environmental laws.

age forecast for inflation also declined from 3.9 percent in the previous survey round to 3.8 percent in the December 2018 survey. The BSP’s target range for that year is also at 2 to 4 percent.

Latest data show inflation averaged at 5.2 percent in 2018, breaching the 2-4 percent target range for that year.

The peak inflation came at September and October of last year to hit 6.7 percent, before coming down to 5 percent in November. Inflation then posted a sharp drop to 5.1 percent in December.

Bianca Cuaresma

CA upholds PCSO’s thermal paper deal with Aussie firm $400M

By Joel R. San Juan

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HE Court of Appeals (CA) has denied the plea of Philippine Gaming Management Corp. (PGMC) to reverse its decision affirming the right of an Australian firm to pursue its 50-year joint venture contract with the Philippine Charity Sweepstakes Office (PCSO) for the supply of thermal paper to all lotto outlets in the country.

In a two-page decision penned by Associate Justice Priscilla BaltazarPadilla, the CA’s Special 14th Division said PGMC failed to offer new arguments that would warrant the setting aside of its decision issued on September 17, 2018.

In that September ruling, the appellate court denied the PGMC’s petition seeking to nullify the writ of preliminary injunction that the Regional Trial Court in Makati City issued in favor of TMA Australia PTY Ltd. and its local subsidiary TMA Group Philippines Inc. (TMA).

The injunction stopped PGMC from performing any act which would violate or render ineffective TMA’s right under the Contractual Joint Venture Agreement (CJVA) it entered into with PCSO on December 4, 2009.

“A perusal of the said motion reveals that no new, valid and cogent reason was forwarded by the movant to convince this Court to amend, much less, reverse its aforesaid decision. The arguments embodied therein are mere rehash of those earlier pleaded which have already been amply passed upon by this Court,” the CA said in denying the motion for reconsideration filed

by PGMC. Court records showed that following the signing of the agreement, the TMA spent $400 million to relocate its thermal manufacturing plant in the Philippines from China.

TMA is the only thermal paper plant set up in the country using high-tech machinery in the production of thermal paper and other paper products. Other local suppliers have to import thermal paper being utilized by government agencies,

Sum spent by TMA, following the signing of the agreement with PCSO, to relocate its thermal manufacturing plant in the Philippines from China airlines and other private firms.

However, PCSO revoked the agreement through a resolution issued on April 15, 2011, after the Office of the Government Corporate Counsel (OGCC) found that the agreement was essentially a supply contract, which is void for being a ploy to circumvent Republic Act 9184, or the Government Procurement Reform Act, particularly on bidding for government procurement supplies and to evade audit by the Commission on Audit (COA).

This prompted the TMA to seek relief from the trial court which issued a writ of preliminary injunction against PCSO’s revocation order of the CJVA on May 6, 2011.

Subsequently, TMA informed PGMC of the existence of its agreement with PCSO and the pending civil case for specific performance as well the writ of preliminary injunction issued by the trial court.

Despite this, PGMC entered into an interim agreement with PCSO where the latter would source its thermal paper and ticket requirements from the former, thus, affecting TMA’s exclusive rights under the agreement.

This prompted TMA to file another complaint, this time for tortious interference and injunction against PGMC. In an order issued on October 18, 2017, the trial court granted TMA’s application for preliminary injunction, enjoining PGMC from entering into an interim agreement with PCSO in the supply of thermal paper.

The PGMC elevated the case before the CA, which ruled in favor of TMA. The appellate court held that TMA has a “clear and unmistakable” right to be protected which warranted the issuance of a writ of preliminary injunction by the lower court.

Pira, PLIA see ₧900-M net worth rule reachable

Continued from A1

“If they increase the requirements, they should also enlarge the pie [for doing business],” Rellosa pointed out.

The funds that will be sourced in line with increasing the net-worth requirement will just remain idle if they are not invested, Rellosa said, adding that most insurance companies are waiting for the government’s “Build, Build, Build” infrastructure program to spur activity so that they can invest in new assets, and write more policies, as well.

PLIA’s view

rate] raise?” he said.

Pimentel said senators would also be keen to find out “how many are expected not to turn out to be smokers because of the measure?”

Moreover, the former Senate President indicated the lawmakers would also want to hear from revenue officials on “what is the performance of the current ‘sin’ tax law?”

Reacting to the medical societies’ reported threat to campaign against those delaying passage of the higher tobacco tax imposition, Sen. Gregorio B. Honasan II said he has a “hearing problem” when threatened.

“I have a congenital hearing problem when I am threatened,” Honasan said in a text message to the B usiness M irror. “My hearing is only restored when the data and facts allow reason for us to make informed intelligent rational long-term policy decisions on any issue.”

@jrsanjuan1573

FOR his part, Philippine Life Insurance Association (PLIA) General Manager George C. Mina also told the BusinessMirror he is hopeful that the life-insurance industry players will meet the P900-million net-worth requirement as the Insurance Commission (IC) deferred the adoption of the IFRS 17.

“We are equally hopeful, especially considering that the vulnerable companies had a respite from the significant financial demands of IFRS17 preparations and capacity building, given its implementation deferral to January 1, 2023, by the IC. This will enable them to focus efforts on meeting the net-worth challenge for the moment,” Mina said.

The IFRS 17 is an international financial reporting standard issued by the International Accounting Standards Board in May 2017 and was set to be implemented on January 1, 2021.

Mina said that the IC deferred the implementation of IFRS 17 in the Philippines by two years due to implementation issues.

“Because it is more complicated and requires more granular data, it requires strong

IT [information-technology] support and increased technical competencies. Companies generally would need significant modifications in processes, data gathering, and systems support, in some cases may even require acquiring new application systems,” he explained.

It was learned that new application systems that must be bought to comply with the IFRS 17 would cost at least P8 million to P10 million.

Last week, the IC during its 70th anniversary celebration expressed hope that insurance companies in the country can meet the minimum net-worth requirement for this year, which is scheduled to increase to P900 million coming from P550 million in 2016.

Under Republic Act 10607, or the Amended Insurance Code of the Philippines, new insurance industry players are required to have P1 billion in paid-up capital, while existing insurance companies need a paid-up capital of P550 million by December 2016, P900 million by December 2019 and P1.3 billion

by December 2022.

Funa said the IC has to be realistic in terms of the insurance industry meeting this goal, saying that the current net-worth of a number of insurance companies has yet to inch closer to the P900-million target.

In his speech at IC’s 70th anniversary, Funa listed among the most difficult challenges for the insurance industry today is complying with the statutory and regulatory solvency requirement, especially with regard to the minimum net-worth and risk-based capital ratios. Rea Cu

Economy BusinessMirror

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Editor: Vittorio V. Vitug • Monday, January 21, 2019 A3

‘Fuel subsidy to ease prices of canned sardines’

By Elijah Felice E. Rosales

T

@alyasjah

HE government might provide fishermen with fuel vouchers to reduce their operating cost, after manufacturers of canned sardines reported that prices of fish remain high.

“We will draw up a project with the BFAR [Bureau of Fisheries and Aquatic Resources] to be able to manage that. One of the considerations is fuel support [through] voucher system for fishermen to reduce their fishing cost even just a little.”

—Lopez

Tr ad e S e c retar y R amon M. Lopez said his agency requested canned goods producers to roll back their prices with the holiday season over. However, canned sardines makers said they are prevented to do so by the high acquisition cost of herring fish, lo-

cally known as tamban.

Tamban is the main input in canned sardines, and accounts for 47 percent of total production cost.

“We confirmed the fish input of canned sardines is still at P32 per kilo to P34 per kilo. It came from P19 per kilo, then P24 per kilo, [before hitting its current range],” Lopez said.

According to Lopez, one of the interventions the government can make is to provide fishermen with fuel subsidy in the form of vouchers to lower their operating cost.

“We will draw up a project with the BFAR [Bureau of Fisheries and Aquatic Resources] to be able to manage that. One of the considerations is fuel support [through] voucher system for

Hike in live chicken prices may be temporary—Ubra

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE farm-gate prices of chicken rose by over 10 percent in the past week after huge firms, such as San Miguel Food and Beverage Inc. and Bounty Fresh, sold poultry in supermarkets at a bargain.

However, United Broiler Raisers Association (Ubra) President Elias Jose Inciong said it remains to be seen whether the selling spree by integrators would ignite a rally of farm-gate prices, which have been sinking in recent months.

“There was an increase [in farm-gate prices] but prices remain unstable. It can still collapse anytime,” Inciong told the BusinessMirror. “[San Miguel] sold chicken in supermarkets at a bargain. It may have created some space in cold storages.”

The latest price monitoring by Ubra showed that the average farm-gate price of regular broiler as of January 18 went up by 10 percent to P66 per kilogram, from the P60 per kg recorded on January 11. Also, the farm-gate price of primesized chicken rose by 14.43 percent to nearly P70 per kg, from the previous week’s average of P61 per kg.

Despite this, Inciong said poultry raisers continue to incur losses as the production cost is still at P80 to P85 per kg. He noted that demand for chicken during the first quarter is usually soft as consumers tend to prioritize immediate needs such as the payment of tuition.

“Production has been cut by almost 50 percent all over the country, while some raisers are absolutely [in] wait-and-see [mode].

Some raisers have already extended their production cycles to 90 days from the usual 60 days, which is already a 30-percent reduction in production,” Inciong said.

Ubra and the Department of Agriculture (DA) said cold storages, particularly in Metro Manila, are filled to the brim and can no longer accommodate additional chicken from local producers.

Monitoring conducted by the BusinessMirror in some local supermarkets showed that prices of some branded chickens, such as Bounty Fresh and San Miguel’s Magnolia Fresh Chicken, declined by as much as 31 percent from their previous quotations.

Magnolia chicken is sold at P90 per kg from the previous P131 per kg tag, while Bounty Fresh chicken is sold at P99 per kg. Consumers may now purchase house-brand SM Bounty at P95 per kg with some being sold at P88 per kg for a bundle of five whole dressed chicken. SM Bounty Chicken retailed in recent weeks at P129 per kg.

“San Miguel and Bounty have a lot of supply. They would not bring down their prices if they do not have too much supply,” Inciong said. “Remember, cold storages are now tight and it is not a profitable option for everyone to prolong storing at cold storages because it would be too expensive.”

Previous market monitoring by the DA showed that the retail prices of dressed chicken in Metro Manila wet markets have declined by almost P5 per kg to P131 per kg on January 14, from P136.83 per kg recorded on January 11.

Latest price monitoring report by the Philippine Statistics Authority (PSA), as of the second week of January, indicated that the average retail price of dressed chicken in National Capital Region remained at P150 per kg since the start of the year.

fishermen to reduce their fishing cost even just a little,” Lopez revealed.

This is particularly crucial with prices of petroleum products higher this year, as the government implemented the second tranche of petrol tax under the Tax Reform for Acceleration and Inclusion law.

Canned sardines are registered as a basic necessity under the suggested retail price list. In the SRP released by the Department of Trade and Industry (DTI) in December of last year, there

were price hikes in 10 of the 22 brands subject to government monitoring.

The BusinessMirror computed an average increase of P0.86 among the 10 brands of canned sardines that raised prices in time for the holiday season.

The highest price hike was posted by Ligo at P1.30, followed by Hakata and Mega at P0.85 per 155 grams. Those that had an increase of P0.75 are 155 grams of Lucky 7, 555, Atami Green, Family Bonus Pack Plain, Family Regular Pack Plain, Master

Green and Mikado.

As for other canned goods, only Purefoods Star (155 grams), a corned beef brand, had a price increase at P1.

The DTI will closely monitor prices of basic goods with the second tranche of fuel tax in place, Lopez vowed. He assured buyers, too, that prices are stable in most of the products under the SRP list, including powdered milk, instant noodles and bread.

The Nation BusinessMirror

A4 Monday, January 21, 2019 • Editor: Vittorio V. Vitug

Govt to cut number of OFWs to Middle East hired through errant employers, recruiters

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By Samuel P. Medenilla

@sam_medenilla

HE Philippine Overseas Employment Administration (POEA) is set to start reducing by the first quarter the number of overseas Filipino workers (OFWs) deployed to the Middle East by erring foreign employers and foreign recruitment agencies (FRA).

This is in compliance with a memorandum issued by the Department of Labor and Employment (DOLE) last month ordering the POEA and the Philippine Overseas Labor Offices to minimize by 10 percent its processed OFWs for foreign employers and FRAs, which have incidents of having distressed OFWs. The measures aim to protect

the welfare of OFWs abroad and minimize the number of negligent foreign employers and FRAs, the POEA claims.

“We are already crafting the guidelines for this directive, which we will release this January,” POEA Administrator Bernard P. Olalia said in an interview.

Olalia said the guidelines will

focus particularly on Filipino household service workers since they are usually ones who are prone to abuses such contract violation, contract substitution and physical abuse.

The POEA said the reduction will not cover foreign employers and FRAs that “have well-cared for OFWs and are compliant with government regulations.”

“There will be no blanket [deployment] reduction,” the labor official said. “There is no reason in bringing down [the deployment] of those with good track record.”

Instead, he said they might even increase the deployment quota of the foreign employers and FRAs with good standing.

“That is why there might not even a reduction [in the total deployment] because the increase [in deployment] for compliant FRAs and employers might offset the decrease for the noncompliant ones,” Olalia explained.

He said they are planning to pilot-test the guidelines during the

first quarter of this year before they consider expanding the coverage of the policy to countries aside from those in the Middle East.

He said they may also adjust the percentage of the reduction depending on its impact on the labor market.

Some recruitment stakeholders earlier expressed concern the new policy may trigger retaliatory action from countries, which will be affected by the new policy.

But Olalia allayed such fears, noting the government is merely exercising its mandate to impose disciplinary actions against erring foreign employers and FRAs. “This is based on our existing rules, which we have been implementing for the longest time so we don’t expect any resistance [from the affected countries] in its implementation,” Olalia said.

As of last Friday, Olalia said they have yet to receive any concern or complaint from any Middle East countries on their new deployment policy.

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Defend our faith like we would a child, bishop tells Catholics

By Samuel P. Medenilla @sam_medenilla

T

HE time for silence is over. Manila Auxiliary Bishop Broderick Pabillo on Sunday urged the faithful to finally speak up and defend their faith against the latest tirade of President Duterte.

In his homily during the feast day of the Child Jesus or Santo Niño, Pabillo said the faithful should protect their faith like they would a child.

“We should defend children against evil. This is the same with our faith, especially now that it is being opposed,” Pabillo said.

While he did not name Duterte, Pabillo cited the recent actions of the Chief Executive, such as calling God “stupid,” as well as urging people not to go to church, and to kill, and to steal.

“Are these correct? These are against our faith,” Pabillo said.

Duterte’s relations with the Catholic Church remain strained as it

“It is not only our faith, which should deepen, but we should encourage others to do the same.”—Pabillo

continued to criticize the growing number of casualties in the government’s war against illegal drugs.

In order to defend their faith against attacks, the chairman of the Catholic Bishops’ Conference of the Philippines (CBCP) said people should nourish their faith.

He said this could be achieved by reading and reflecting on the words of the Bible, participating in Church activities and helping other people.

“It is not only our faith, which should deepen, but we should encourage others to do the same,” Pabillo said.

PHL seen to deport ex-Taiwan govt exec Hope, fear mix on eve of Bangsamoro plebiscite

By Joel R. San Juan

A

@jrsanjuan1573

FORMER high-ranking government official of Taiwan is set to be deported by the Bureau of Immigration (BI) to face trial for fraud for his alleged involvement in game-fixing syndicates.

Immigration Commissioner Jaime H. Morente identified the Taiwanese national as Wu Chien Pao, 68 years old.

The Taipei Economic and Cultural Office (Teco) in Manila had identified Wu as a former government official in Taiwan who held the post of speaker of Tainan County and is wanted by prosecutors in Taipei for fraud since October 2014.

The speaker heads 57 elected councilors in Tainan County and is chosen by fellow councilors through anonymous voting.

Wu was arrested on January 16 at the Subic Freeport Zone in Zambales by operatives from the Bureau’s Fugitive Search Unit.

The FSU members were armed with a mission order, which was issued by the BI upon the Teco’s request.

The BI noted that Taiwanese news outlets describe Wu’s crime as “one of the largest issues to hit Taiwanese baseball” after he was

accused of fixing results of Chinese Professional Baseball League games involving popular players in his country, in collusion with illegal gambling syndicates.

“He will be deported for being an undesirable and undocumented alien,” the BI chief said, adding that Wu’s Taiwanese passport already expired in April 2017.

Wu was the second former foreign government official who arrested by the BI this month.

Earlier , the BI-FSU agents arrested in Pasay City a former Chinese ranking government official wanted by Beijing authorities for corruption and economic crimes.

Xie Haojie, 49, who was arrested in a joint operation by the BI and Presidential Anti-Corruption Commission, is allegedly wanted in China over a multimillion-dollar embezzlement case.

Xie left China and had gone into hiding for almost a year in the Philippines to evade prosecution after the Chinese government launched an all-out campaign against corruption, which cracked down abusive government high-ranking officials and employees.

The BI said they would be placed in the immigration blacklist to prevent them from going back to the Philippines.

Continued from A8

Also being checked is a claim that a stillunnamed local citizen arm of the Comelec told voters to get their identification card from the group so they can get an initial amount of P200.

“It’s a case of vote-buying but we need a complainant to proceed with the investigation,” Jimenez said.

Capt. Arvin John Encinas, spokesman of the Army’s Sixth Infantry Division, said a battalion of soldiers is in Cotabato City to enforce Comelec control, which was imposed following a shopping mall explosion on December 21, killing two shoppers. There had been claims that terrorists were testing the security blanket to disrupt the plebiscite.

Capt. Jonathan Salona, spokesman of the Army’s Special Forces Battalion, said the SPF had deployed to polling centers and security concerns around the barangays were addressed by this unit.

Over the weekend, several persons wearing the green uniforms of the Bangsamoro Islamic Armed Force (BIAF), the armed unit of the Moro Islamic Liberation Front (MILF), held a motorcycle caravan urging residents to vote yes to the BOL. A member of a citizen arm said the BIAF and MILF members patrolling near the town plaza were part of the BIAF’s Base Command 108 and Base Command 105, whose units engaged the police’s Special Action Force in Mamasapano, Maguidanao in January 2015.

Encinas said the BIAF and MILF patrollers were unarmed and their entry into the city was coordinated with the Division. Elsewhere, he said, there had been no sign of trouble. “We have enough forces to address any threat concerns of the plebiscite.”

February 6, too

RESIDENTS of Lanao del Norte and North Cotabato will have their chance to ratify or reject the BOL in the second phase of the plebiscite on February 6.

The Comelec said the biggest determinant of the plebiscite outcome on January 21 will be the 1.9 million voters of the ARMM. ARMM provinces will form the “core” area of the Bangsamoro Autonomous Region of Muslim Mindanao, which will be created if the BOL is ratified.

Jimenez explained that if a majority of voters in the five ARMM provinces reject the BOL, then the BARMM will not be able to exist.

Retain or expand

OF the ARMM provinces, Maguindanao has the biggest number of voters with 650,244, or 32.8 percent of the total.

Steel. . .

Continued from A1

sometimes, earthquakes—and, thus, they need to use quality construction materials,” Cola said.

“The proliferation of substandard steel in these provinces poses grave danger to families living in these provinces,” he added.

It is followed by Lanao del Sur with 554,552 voters; Sulu with 375,087 voters; and Tawi-Tawi with 209,697 voters.

Basilan has the fewest number of voters in ARMM at 190,861.

“The law does not allow these areas to vote to leave BARMM so essentially their voters could only vote to retain the current of ARMM [territories] or extend it [to other contiguous areas],” Jimenez said.

Other participating areas in the two-part plebiscite on January 21 and February 6 are just deciding if they want to be part of the BARMM. Among these possible additions to the BARMM, which are participating in Monday’s plebiscite, are Cotabato City and Isabela City in Basilan.

Flashpoint

JIMENEZ said Comelec is now closely monitoring the security in Cotabato City, amid new reports of an ambush in the city last Friday.

He said tensions are high in the city since its voters are among the most vocal in opposing the BOL. “This is why we consider it a flashpoint,” Jimenez said.

Longer canvassing

COMELEC expects it would take at least four days to canvass the results of the manually conducted plebiscite, and hopes to announce the outcome of the plebiscite within the week, in Manila.

“We are hoping to have a peaceful and orderly plebiscite there and we are not seeing an immediate threat, but we cannot take anything for granted,” said PNP chief Director General Oscar Albayalde.

Armed Forces Chief of Staff Gen. Benjamin Madrigal Jr. said, “Your Armed Forces assures the people that we are all set and ready for this historic event. We have already identified the gaps and have addressed them accordingly.”

In Lanao del Sur and Lanao del Norte, Madrigal also ordered the military forces there, particularly the 103rd Brigade and the 2nd Mechanized Infantry Brigade, to secure the plebiscite on February 6 in Lanao del Norte.

Mapping the ‘yes’ and ‘no’

DESPITE President Duterte’s last-ditch effort to campaign for the ratification of Bangsamoro Organic Law, experts say some areas in Mindanao are still likely to vote “No” to BOL inclusion.

Dr. Julkipli M. Wadi, professor of Islamic studies at the University of the Philippines, said BOL will most likely be ratified but he is On top of substandard rebars, the Pisi report named seven hardwares that allegedly break consumer protection laws, by selling 8mm rebars as 9mm rebars. Cola also said most of the low-grade steel up for sale in the domestic market were manufactured by steelmakers using induction furnace, which mostly originated from China.

Pisi has long appealed to the government to ban the entry of induction furnace from

less optimistic that Cotabato City will vote for inclusion in BARMM. The same also goes for other areas like Lanao del Norte, Sulu and North Cotabato, according to Wadi.

A common reason for rejecting inclusion in BARMM is the perception that the MILF will become the “new political broker that could possibly usher change” under the new setup, he said. “[This] is perceived negatively by some traditional politicians, especially those with too entrenched personal vested interest in different areas of Muslim Mindanao. Yet, other ethnic grievances and historical rootedness of people’s opposition to BOL cannot just be dismissed sweepingly even as trapos ride on them, “ he said in a text message to BusinessMirror. “Indeed, historical and political dynamic in Muslim Mindanao is full of twists and turns. The Moro quest for nationhood has always been fraught with hope and fear.”

Meanwhile, Isabela, he said, will be “swayed to vote yes due to influence of the Hatamans.”

A resident of Basilan, ARMM Regional Governor Mujiv Hataman earlier urged Isabelans to vote “Yes” so as not to be left behind in the development of Basilan, since BOL is expected to bring more funds to the autonomous region than what ARMM enjoyed.

Ramon Casiple, executive director of Institute for Political and Electoral Reforms, disagreed with Wadi, saying North Cotabato may likely vote “Yes” since it has MILF bases.

As for Lanao del Norte, local politics will come into play, which will prompt its voters to cast a “No” vote.

“Lanao del Norte has predominantly Christian voters and Dimaporo clan does not support the inclusion of the six municipalities,” Casiple said.

Although he acknowledged President Duterte’s effort to personally campaign for BOL, he maintained that this is not a decisive factor.

“Local politics and voter interest is expected to prevail,” he said.

Nonetheless, Mindanao Development Authority (MinDa) remains optimistic that the BOL will be ratified.

“As everyone hopes for a peaceful and orderly democratic exercise, the national government looks forward to the outcome being a choice to ratify Republic Act 11054, otherwise known as the BOL,” said Romeo M. Montenegro, MinDa deputy executive director and head of Investments Promotions. With reports from Samuel P. Medenilla and Bernadette D. Nicolas

China, as these units were prohibited there for producing below-standard quality steel, as well as for causing pollution.

The Asean Iron and Steel Council last year called on their respective governments to act on the expected dumping of induction furnaces from China. The group argued that allowing the machinery to enter Southeast Asian countries could impact the development of the steel industry in the region.

Queen city of the south A BusinessMirror Special Feature

www.businessmirror.com.ph

Monday, January 21, 2019

A5

PHL’s top tourist destination seen having its ‘best year’ in 2019

By Ma. Stella F. Arnaldo Special to the BusinessMirror

B

With every strike of the drum and rhythmic tinkling of xylophones, dancers in colorful costumes and elaborate headdresses sewn by hand, put their hearts and hips into every sway and shake to celebrate the Santo Niño over the weekend.

The constant downpour on Sunday did very little to dampen the fervor and excitement of the participants in Sinulog 2019, as well as the estimated 230,000 foreign tourists and over 1 million domestic travelers, who descended on Cebu to watch the annual festivities celebrating the gifting of the image of the child Jesus to Hara Amihan by Portugese explorer Ferdinand Magellan in 1521. The image, now housed in Basilica Minore de Santo Niño in downtown Cebu, is credited with a number of miracles, thus the increasing number of thankful devotees.

The Sinulog is just one of the many attractions that have made Cebu the Philippines’ top tourist destination, according to Regional Director Shalimar Hofer Tamano of the Department of Tourism’s (DOT’s) Eastern Visayas region. “I think this year will be the best for tourism in Cebu,” he enthused, as he expressed optimism the province will see at least a 10-percent increase in tourist arrivals for 2019, or at least 6.5 million from last year’s estimated 6 million.

In March, Cebu will host Routes Asia 2019, the region’s air service development community, which attracts senior decision makers in the aviation industry, tourism authorities and stakeholders, and industry influencers. Tourism

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Pit Senyor!

Secretary Bernadette Romulo Puyat recently said about 800 delegates, and representatives from 100 airlines and 200 airports, as well as 30 tourism authorities, along with the 20 featured speakers, are expected at the three-day event.

Another travel-related event the province will be hosting, said Tamano, is the Center for Asia-Pacific Aviation conference in June 24-25.

With low-cost carriers (LCCs) in North Asia accounting for total traffic to the region, the conference will discuss challenges these carriers are facing and opportunities for growth.

The annual Ironman triathlon challenge, to be held in the province on August 11, will also be a source of thousands of tourists.

He added the newly-opened Cebu Safari and Adventure Park in the municipality of Carmen, just 2-3 hours away from the city, will be a key attraction, with tourists flocking to try “Asia’s longest zipline,” at 1.2 kilometers (km). “Tourists can go there to stay overnight,” said Tamano, as a hotel is being built, or make a stopover there before heading to Sta. Fe, in Bantayan Island, another major

tourism destination in the province.

“This year, we are promoting Northern Cebu,” he averred, but acknowledged that one of the major challenges for these destinations is the long travel time going there. From Cebu City to the jetty port gateway to Bantayan is about 5 hours in all. “That’s why I have been proposing a water taxi at least from Cebu to Carmen, patterned after Venice, to make the Cebu Safari more accessible.”

He said the opening of Terminal 2 of Mactan International Airport will likely draw

more direct flights to Cebu as well as charter flights from Southeast Asia and other regions. “Some are working on flights from Qatar to Cebu,” he revealed.

Close to 7 million tourists visited Eastern Visayas in 2017, some 80 percent or 5.6 million of whom made their way to Cebu City, according to data from the DOT. Of the total visitors to the region in 2017, some 3 million were foreigners, while the rest were local travelers, said Tamano.

Despite the huge numbers, the DOT regional executive said the agency has been

“working closely” with his counterparts from the Departments of Environment and Natural Resources and Interior and Local Government to ensure the environment of major tourism destinations continue to be protected. “We have the same kind of setup like the BIATF (Boracay Inter-Agency Task Force), except for the region,” he noted.

Tamano said DOT has also been working with the “local government and the fishermen in Oslob, for instance, to cut in half the visitors there, to reduce the stress on the whale sharks.” At the same time, he said, proposals have been made to raise the environmental fees for tourists to be able visit with the sharks. (A shark visit/tour costs about P1,000 per person.)

Environment Undersecretary Sherwin S. Rigor, who has spearheaded the rehabilitation of Boracay and Manila Bay for the DENR, said the waters of Cebu, including its beach destinations, are regularly being sampled and tested.

“It’s part of periodic monitoring of the Environment and Management Bureau,” he stressed.

For now, he said, no environmental issues have come up regarding Cebu.

Tamano noted the recent problem about hospital waste being found floating in waters off Lapu-Lapu were traced to a private home, and not to the city hospital which was earlier blamed for the refuse.

“We are implementing the sustainable tourism action program announced by Secretary Puyat,” he underscored, ensuring that Cebu will not go the way of Boracay Island, the country’s second top tourist destination.

Boracay was closed for six months in 2018 to give way to the government’s rehabilitation effort. President Duterte dubbed the island a cesspool after seeing footage of sewerage pouring straight into Bulabog beach, the kite-surfing area. After Boracay, government has trained its sights on cleaning up and protecting other island destinations like Panglao in Bohol, El Nido and Coron in Palawan, and Siargao in Surigao del Norte.

GLOBE TELECOM SPEEDS UP

NETWORK COVERAGE

IN CEBU UPHILL R

By Cedrix Hay

EMAINING true to its tagline, Globe Telecom makes every single connection possible, even in the depths of hills and shores.

Residents now get to enjoy improved mobilenetwork coverage, as Globe builds up additional cell sites in Barangay Bonbon and Barangay Guba in Cebu City.

Virtually accessible in inclement weather, Barangay Bonbon and Barangay Guba are situated in the uphills of the Queen City of the South, and about an hour away from the central business district. The call for helping communities stay connected, especially in times of disaster, is Globe’s utmost priority.

HEADED by Brgy. Captain Eduardo R. Cabriana of Barangay Bonbon along with other barangay officials grace the inauguration of the latest cell site in Brgy. Bonbon, Cebu

Mayor Tomas Osmeña graces the inauguration of the latest cell site of Globe in Brgy. Guba, Cebu | HERBERT KIKOY/WWW.DRIFTSTORIES.COM)

“This is part of our vision to provide each and every Filipino access to critical telecommunications services, especially those who live in

underserved, sparsely populated areas, as they need connectivity the most,” said Globe General Counsel Froilan Castelo, thanking the Cebu City government, headed by Mayor Tomas Osmeña, for the speedy permitting process.

Globe also targets to locate additional towers

PRESENT at the inauguration of the latest Globe cell site in Brgy. Guba was Mayor Tomas Osmeña of Cebu City, Brgy. Captain Orlan Herrera of Brgy. Guba, and Globe VisMin Head for External Affairs, Patrick Gloria | HERBERT KIKOY/WWW.DRIFTSTORIES.COM)

in Barangay Tabunan, Barangay Sirao and Barangay Babag to address wider network connection of thousands of households around the world.

As part of its ongoing improvement, Globe fortifies its reach, resilience and reliability with its heavy spending on network modernization.

Globe spends 32 percent of its topline revenue in modernizing and upgrading of its networks a year— one of the highest reinvestment ratios among telcos in the world.

About 90 percent of cities and municipalities in the country are LTEcoverage present, with almost 12,000 deployed LTE sites as of last September.

A6

Monday, January 21, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Courage and Mr. Sy

O

N Saturday, Mr. Henry Sy Sr. died at the remarkable age of 94. We offer our condolences and prayers on his passing.

Over the next days we will read about his life and legacy. Some from the younger generations may discover that his SM Group of companies is actually the shortened version of “Shoe Mart,” and the “BDO” bank started its corporate life as Acme Savings Bank and was renamed to Banco de Oro Savings and Mortgage Bank when purchased by Henry Sy. His story of being born in Fujian, China, and coming to the Philippines at age 12 to join his father who operated a sari-sari store in Quiapo, Manila, will be told, as well as his rise to being one of the 100 richest people on earth. As the wealthiest man in the Philippines, Mr. Sy’s business conglomerate employed tens of thousands directly and many times more than that indirectly.

Anecdotes will also tell of his walking unassumingly on a busy Saturday afternoon through one of his department stores, looking like an ordinary shopper. His philanthropic works will be written, in particular his commitment to Philippine social development through education.

Yet does any person merit accolades and admiration for being successful and wealthy? What makes a “Henry Sy”?

He has been quoted as saying, “You have to have a dream, whether big or small. Then plan, focus, work hard and be very determined to achieve your goals.” And this: “Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it”. While those are excellent words of advice, they are certainly not unique or earth-shattering ideas.

In his 1913 novel Fortitude, British author Hugh Walpole began with this paragraph: “It isn’t life that matters! It is the courage you bring to it...this from old Frosted Moses in the warm corner by the door. A little boy, Peter Westcott, heard what old Frosted Moses had said, and turned it over in his mind.”

Courage is defined as “the ability to do something that frightens a person” and “strength in the face of adversity.” We sometimes confuse courage with “heroism” or bravery, such as a soldier on the battlefield or a firefighter going into a burning building to save a life. But the bravery of heroism often comes from being put into an extreme situation. Courage can be something experienced by every person every single day.

“Success is not final, failure is not fatal: It is the courage to continue that counts.”—Winston Churchill. “All our dreams can come true, if we have the courage to pursue them.”—Walt Disney. Every man or woman who gets up in the morning to provide for his or her family is bringing courage to his or her life. Every young man or woman who fights the traffic and weather to get an education is bringing courage to his or her life.

The reason we honor and need to learn from men such as Henry Sy Sr. is that they bring courage to their lives every single day. They never stop and they never waver. Our BusinessMirror founder, the late Ambassador Antonio L. Cabangon Chua, expressed it this way: “Whether you’re rich or poor, everyone has 24 hours in a day.

It’s what you do with your 24 hours that counts.”

Remembering a prayerful leader Atty. Jose Ferdinand M. Rojas II

RISING SUN

W

HEN we think about great men and women who have passed on, we usually think of the lessons that we gain from studying their lives. On Friday, January 25, we remember the late President Maria Corazon “Cory” Cojuangco Aquino on her birthday. We remember her for her courage, standing up to the dictator Ferdinand E. Marcos and leading the Filipino people toward the new path to democracy. We also remember her for her loving and total support for another great man, her husband Benigno Simeon “Ninoy” Aquino Jr. She was a picture of grace and stability even during the most trying times of Ninoy’s political career.

But all of her achievements notwithstanding, and the fact that people loved her and were charmed by her, I believe that one of Cory’s most special and significant qualities was her devotion to God, the prayerful

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leadership that she practiced. This is, unfortunately, missing in many administrations today—the intentional submission, trust and openness to the guidance of the Almighty.

Cory encouraged the Filipino people

LEGALLY SPEAKING

P

RESIDENT Rodrigo Duterte on December 20, 2018, signed into law Republic Act 11165 known as the “Telecommuting Act” also referred to as the “Work From Home” Law. This new law recognizes that technological developments have opened up new and alternative avenues for employees to carry out their work, such as telecommuting and other flexible work arrangements (Section 2, RA 11165 ).

“Telecommuting” refers to a work arrangement that allows an employee in the private sector to work from an alternative workplace with the use of telecommunication and/or computer technologies (Section 3).

An employer in the private sector may offer a telecommuting program to its employees on a voluntary basis, and upon such terms and conditions as they mutually agree upon. Such terms and conditions shall not be less than the minimum labor standards set by law, and shall include compensable work hours, minimum number of work hours, overtime, rest days and entitlement to leave benefits.

In all cases, the employer shall provide the telecommuting employee with relevant written information in order to adequately apprise the individual of the terms and conditions of the telecommuting program and the responsibilities of the employee (Section 4).

The employer shall ensure Fair Treatment, i.e., the telecommut-

ing employees are given the same treatment as that of comparable employees working at the employer’s premises. All telecommuting employees shall: a. Receive a rate of pay, including overtime and night shift differential, and other similar monetary benefits not lower than those provided in applicable laws, and collective bargaining agreements. b. Have the right to rest periods, regular holidays and special nonworking days. c. Have the same or equivalent workload and performance standards as those of comparable workers at the employer’s premises. d. Have the same access to training and career-development opportunities as those of comparable workers at the employer’s premises, and be subject to the same appraisal policies covering these workers. e. Receive appropriate training on the technical equipment at their disposal, and the characteristics and conditions of telecommuting.

to pray and to strengthen their faith.

As a Catholic nation, this is an important aspect of our lives. And we respect, and love, a leader who leads with Godly wisdom. nnn

THE news that shocked everyone on Saturday was the death of the man behind SM—the country’s richest person, Henry Sy Sr. According to his family, the 94 -year-old Chinese businessman who built his own SM empire in the Philippines died in his sleep on Saturday morning.

Sy’s success story is an extraordinary rags-to-riches tale that is full of lessons in diligence, focus and strategy. Everybody knows that Sy started small, moving up from being the owner of small shoe stores in Quiapo to becoming the founder and head of a multibillion-dollar business conglomerate operating in retail, banking, hotels and property development.

Of course a lot of it is pure hard work, plus a lot of confidence and good business sense. After the war,

f. Have the same collective rights as the workers at the employer’s premises, and shall not be barred from communicating with workers’ representatives.

The employer shall also ensure that measures are taken to prevent the telecommuting employee from being isolated from the rest of the working community in the company by giving the telecommuting employee the opportunity to meet with colleagues on a regular basis, and allowing access to company information (Section 5). Moreover, the employer shall be responsible for taking the appropriate measures to ensure the protection of data used and processed by the telecommuting employee for professional purposes. The employer shall inform the telecommuting employee of all relevant laws and company rules concerning data protection. The telecommuting employee shall ensure that confidential and proprietary information are protected at all times. For this purpose, the provisions of the Data Privacy Act of 2012 shall have suppletory effect (Section 6).

The parties to telecommuting work arrangement shall be primarily responsible for its administration. In case of differences in interpretation, the following guidelines shall be observed: a. The differences shall be treated as grievances under the applicable grievance mechanism of the company. b. If there is no grievance mechanism or if the mechanism is inadequate, the grievance shall be referred to the regional office of the Department of Labor and Employment

for example, when his family lost their business due to looting and a fire, the young Henry Sy chose to put up a shoe store because he thought “everyone would need a pair of shoes.” He continued to expand his business, often in the midst of (and despite) difficult economic situations. He believed that his family, specifically his children, had to learn the value of hard work, thus, he encouraged all of them to help strengthen the family business.

The government recognizes his contributions to the Philippine economy, labeling him as one of its pillars.

He is also seen as a generous philanthropist who contributed to making worthwhile projects happen for the benefit of the less fortunate. Sy, of course, had his share of critics pertaining to various issues, one of them being the practice of contractualization.

It is wise to look at all lessons, both sides of the coin, so to speak. Learn from the life of this extraordinary man who conquered life’s adversities and thrived on great challenges.

(DOLE), which has jurisdiction over the workplace for conciliation. c. To facilitate the resolution of grievances, employers shall keep and maintain, as part of their records, the documents proving that the telecommuting work arrangement was voluntarily adopted (Section 7).

The DOLE is tasked with issuing the implementing rules and regulations and identifying the industries to be covered by this newly signed law. It shall establish and maintain a telecommuting pilot program in select industries, which shall last for a period of not more than three years and shall report to Congress on its findings at the end of this period (Section 8).

The “Work From Home” Law is intended to promote work-life balance (a favorite millennial term) and to obviously address the debilitating effects of traffic congestion, as there will be a short commute from the couch to the work place.

However, it will likely not benefit certain industries, which require on-site performance like manufacturing firms, security agencies, etc., and professions like lawyers and doctors, among others, which requires personal lawyer-client handholding and doctor-patient consultations.

Fifteen best work-from-home jobs have been listed by RatRaceRebellion.com that are not only real but can also provide a decent income: (1) virtual assistant (2) medical transcriptionist (3) translator (4) web developer/designer (5) call-center representative (6) tech-support specialist (7) travel agent (8) teacher (9) writer/editor (10) franchise See “Kapunan,” A7

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Moving forward with Cipag Timings and delays Siegfred Bueno Mison, Esq.

Joel L. Tan-Torres

DEBIT CREDIT Part One

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N August 14, 2018, I turned over my chairmanship of the Professional Regulatory Board of Accountancy (BOA) of the Philippines to the appointed successor. It was just over four years ago when my term started on May 15, 2014.

On June 14, 2014, the “Expanding Horizons” initiative of the BOA was launched. The EH initiative represents the various undertakings and plans of BOA to pursue the mandates prescribed in the accountancy law (Republic Act 9298) to supervise and regulate the practice of accountancy.

Subsequently, the Six-point Expanding Horizons Plan was formulated with the vision of upgrading the profession and the Filipino accounting professional to levels higher than that of global standards.

The highlights of the EH initiative include the reform of the educational and professional accountant qualification systems; regulation of the profession; globalization thrust; governance and ethics; stakeholders engagements; and various priority and special events.

Pursuing these initiatives provided me the opportunity to engage with a great number of organizations and persons in both the local and global accountancy community. I continue to maintain and build on these relationships.

Since leaving the BOA, I have gone back full steam to my consulting practice in tax and accounting advisory services. What is exciting with my professional directions now is that I still continue doing many of the activities that I used to pursue in my former position with a renewed vigor and perspective. While before I was engaged as a regulator, I am now able to go about the various developments in the area of accountancy as a professional accountant cum consultant.

The accountancy world continues to emerge and expand. In the local scene, there are major concerns that a professional accountant should be aware and involved in. These include the ongoing tax reform implementation and legislation, the compliance with data privacy measures and the

Kapunan. . .

continued from A6

owner (11) social-media manager (12) childcare provider (13) graphic designer (14) short-term rental host (15) web site tester.

While “Work From Home” is a good concept, its success will de-

impact of the anti-money laundering rules. In the global accounting community, the international accounting professional bodies are addressing the issues of audit quality, governance and ethics in the practice, impact of digital and technology developments and the emergence of enhanced external reporting, such as Integrated and Sustainability Reporting.

The accountancy profession in the Philippines is already in its 95th year of existence. The profession has over 190,000 Certified Public Accountants, with a significant number working in most parts of the world.

The CPAs in the Philippines are very much involved and ingrained in society and the various communities.

The professional accounting organizations are very much engaged in uplifting the welfare of their members and profession. All of these attest to the important role of the accountancy profession and its stakeholders in our country. It is incumbent upon us in the profession to continue working hard to fulfill our responsibilities and mandate. Work hard on our compliance, innovation, professionalism, advocacy and globalization, or Cipag for short.

Definitely, by focusing on our Cipag, we will continue to go a long way and expand our horizons.

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

pend on many factors, among them, the readiness of companies for this setup, a stable communication system, hardware and software at home, supervision and management, but above all, a sense of responsibility and discipline of the employee to perform at optimum levels outside the watchful eye of the employer.

THE PATRIOT

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OST airlines are measured by their on-time performance.

And, to a large extent, Customer Satisfaction Score is directly proportional to OTP. Obviously, passengers are dissatisfied whenever flights are delayed. In Philippine Airlines, some delays are attributable to external factors such as airport congestion, runway closures, weather disturbances and other fortuitous events such as typhoons, snowstorms and even bird strikes. Some delays are due to technical issues, such as maintenance and crew and/or passenger concerns. Hence, airline operations all over the world find all kinds of ways to minimize flight delays without sacrificing safety and security.

In law, there is no legal delay unless there is prior demand, save for a few exceptions. One such exception where prior demand is excused is when the contract was entered into where time is the controlling motive.

Classic examples of these contracts are those catering agreements in relation to significant events such as wedding receptions. Even absent any stipulation, parties to such contract understand that certain services have to be performed on time. Time is of the essence. After all, the reception host would not want his/her guests unnecessarily starved while waiting for the food and drinks.

Being on time or having the perfect timing is also relevant in other fields. In music, each member of the orchestra/band must precisely play

certain notes at exact timings to produce a wonderful symphony. Timing is everything, and a fraction of a second can be the difference between a masterpiece and a disaster. In sports, a football quarterback with the protection of his offensive line only has a few seconds to throw the ball at a certain velocity and trajectory for certain receivers who are running a precisely timed route. The difference between a touchdown and an interception is attributable to the OTP for each player in the team.

My surfer friend John V has been spending a lot of time waiting for the right wave to get that perfect ride. He understands the science behind the sport despite not controlling most of the factors that affect his performance. Aside from having great bal-

Monday, January 21, 2019 A7

ance, excellent surfers largely depend on the quality of the wave. While on water, most surfers spend less than 5 percent on the surfboard. The rest of the time, they wait. John lets wave after wave pass by until he gets the right one. And when he does, John has to paddle at the right speed to be able to catch the right wave at the perfect time. In recent years, John has been waiting, not only for the right wave, but for the right partner.

Owing perhaps to his many surfing days of patiently waiting, John V has waited with conviction for about 20 years to get the love of his life back. In their teen years sometime in 1985, John and Rosa were a couple determined to nurture their love to last a lifetime. However, things got in the way and John left Rosa and moved to the United States in 1989.

They lost touch from each other and eventually had other partners in life and their own children in the process.

But John kept the love and the faith.

John kept on writing letters to Rosa at her last known address and even searched her name at the first availability of the Internet in the late nineties. Even after more than 20 years of zero news about Rose, John was unperturbed. Similar to waiting for the right wave, John waited until he got reconnected with Rosa via Skype sometime in 2009. Admittedly, while John took some efforts, he believes that he and Rosa got reconnected at the perfect time, as they were both already unattached to their previous partners.

In the Bible, Habakkuk 2:3 tells us, “For the revelation awaits an ap-

Bloomberg Opinion

J

ACK BOGLE knew how to make a nuisance of himself.

“What he meant to most people in the investment business was that he was a royal pain in the bottom,” said Jeremy Grantham, cofounder of Boston-based Grantham Mayo Van Otterloo, or GMO. By the time of Bogle’s death, on Wednesday at age 89, his victory was nearly total. Low-cost index funds, the idea he championed, are everywhere, from giant pensions and endowments to millennials’ 401(k) accounts. Vanguard Group, the firm Bogle founded, is now a $5 trillion giant.

This year, the investing industry will hit a symbolic tipping point: The amount of assets in US index funds is almost certain to surpass the amount in actively managed products for the first time. Meanwhile, Vanguard collected inflows of $218 billion in 2018, Bloomberg data show. The rest of the US fund industry lost $237 billion.

Bogle, who suffered the first of six heart attacks at age 31 and ended up with a heart transplant, didn’t seem like such a threat to Wall Street when he started Vanguard back in 1975.

Standard load

The first-ever index mutual fund, accessible to all investors, not just institutional clients, was a flop. With Bogle expecting investment of as much as $150 million, Vanguard launched it with just $11.3 million. Even his fans in academia weren’t pleased.

Paul Samuelson complained about the fund’s 6-percent sales load, which was standard at the time. Loads were used to pay for kickbacks to financial advisers so they’d recommend the funds to their mostly unaware clients. Vanguard eliminated its loads in 1977, a virtuous move that nonetheless made it harder, at least at first, to attract assets.

Perhaps more disappointing was the fund’s performance. In the late 1970s, three-quarters of active-fund managers were still delivering better

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

How Opec is helping US oil reach a tipping point

By Julian Lee Bloomberg Opinion

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HE US Energy Information Administration (EIA) has published its first detailed monthly oil forecast for 2020, and it shows something that should strike fear into the hearts of Organization of the Petroleum Exporting Countries (Opec) ministers—from the fourth quarter, America will export more oil than it imports.

This won’t make the US independent of the global supply chain.

It doesn’t mean that it will stop shipping in crude from the Middle East and Latin America, or bringing refined products from Europe and Asia. But it does show that the transformation of the country’s oil sector through the extraction of crude held in shale rocks is not yet over. Some of the thanks should go the Opec ministers who have helped make it possible.

The transformation is profound and will mean that members of the Opec+ group are likely to have to keep restricting their own output for much longer than they are currently planning if they are to avoid global

inventories soaring again.

By December 2020, the EIA forecasts that America will be exporting 1.2 million barrels a day of more crude and products than it will be importing. Just a decade earlier it was buying in 9.4 million more than it was selling overseas. That is a shift in net flows of more than a million barrels a day each year for a decade.

The US was briefly a net exporter in November, when crude and products exports outstripped imports for a solitary week. That may be repeated intermittently over the course of 2019, but toward the end of next year it is likely to become the norm, rather than a rarity.

America’s march toward this new status was slowed to a virtual halt by the collapse in oil prices in 2014 and only resumed in 2017, after the US shale oil industry had slashed costs and Opec output cuts began to lift prices to a level at which their operations became profitable again.

Soaring US production, driven by the extraction of oil from shale, has transformed the country’s prospects. Two years ago, when the EIA first started publishing its detailed

forecast for 2018, it saw US output ending the year at 9.44 million barrels a day. It now sees last month’s figures at a staggering 11.8 million.

Its most recent forecast shows the growth trend slowing for much of 2019, before picking up again in 2020, following the expected start-up of new pipelines to carry oil from the Permian Basin to the Gulf coast in the second half of this year. A similar pause in growth was forecast for the summer of 2018, but it didn’t materialize. The EIA has consistently underestimated the US production rate, and could do so again.

More US output would boost sales abroad (either of crude or of refined products, if that additional oil is processed in domestic refineries).

Not only would America’s net export position by the end of 2020 widen, but the date at which it becomes a net seller to the rest of the world would also be brought forward.

The US is already by far the world’s biggest consumer of oil, using roughly one in every five barrels produced worldwide. If the EIA’s forecast is correct, it will soon be one of the biggest net exporters. Outside of the Opec

Jack Bogle changed your life even if you don’t know who he was

By Ben Steverman

pointed time; it speaks of the end and will not prove false. Though it lingers, wait for it; it will certainly come and will not delay.” In our lives, certain events will come. Whether in the airline business, in the music industry, in sports or in our love relationships, a lot of moving parts have to be in perfect synchronicity to produce the desired results. Since there are so many factors that create uncertainties, some people suffer from unnecessary anxiety. I was once a super worrier when I was in public service. But believers realize that God is in control of everything, including the exact time when things will come to us. Some people rush; others give up on waiting. Now reconnected though in a long-distance relationship, John and Rosa are both hopeful that their love, this time around, will last a lifetime. Rosa is eternally grateful for her initial separation with John, as she believes that she had to undergo three decades of misery to find the right “wave” for her.

For Rosa, there was never any delay in this relationship. The OTP in her relationship with John is absolutely perfect as she is reminded of what the Holy Book tells us in Ecclesiastes 3:11, “He has made everything beautiful in its time. He has also set eternity in the human heart; yet no one can fathom what God has done from beginning to end.” Knowing that timing is everything, we have to understand there are no delays in life...only God’s perfect timing.

returns than Bogle’s index fund. By the early 1980s, half were outperforming the index fund, despite the lower fees. Then, later in the 1980s, the tide turned, and Vanguard’s index fund began outpacing the vast majority of active funds.

Technology’s role

Technology played an underappreciated role. Index funds have to buy and sell hundreds of securities every day, to deal with investment flows, reinvest dividends and generally keep up with the index they’re meant to track. Vanguard’s first fund could only handle about half of the Standard & Poor’s 500 index. By 1992, computers and trading systems had advanced to the point where Vanguard could launch its Total Stock Market Index Fund, which is now a $672-billion behemoth that buys every single US stock, 3,500 in all, for fees as low as 0.04 percent per year.

Another reason Vanguard was able to turn the tide was the fierce competition active-fund managers started

facing from each other. Investors were eager to jump into the surging markets of the 1980s and 1990s. Celebrity fund managers multiplied, and they were also up against new, high-tech hedge funds, which built powerful computers and hired scientists and math PhDs to run them. The arms race made it more and more difficult to outsmart the market.

Finance joke

By now, it’s become almost a joke on Wall Street. Every so often, some pundit predicts that this year, finally, will be a “stock-picker’s market,” when skilled individual stock selection can finally triumph over the quants and the indexes. But with each passing year, mutual funds, and even hedge funds, fall further behind the plain old index fund.

As Vanguard won more and more assets, along with the respect of many personal-finance experts, it was competing against a financial industry that loved to steer clients into higher-fee products. Vanguard, which Bogle had

set up as a cooperative, would periodically cut fees, passing the savings from efficiencies and economies of scale to its customers. Other fund companies mostly held the line.

Then, investors started asking about fees, particularly after the steep market declines of 2000-2002 and 2008. Only the most unsophisticated investors would still put up with an adviser who recommended load funds.

Pensions, endowments and, crucially, 401(k) retirement plans pushed more and more assets into index funds.

Fee war

Suddenly, Vanguard started facing serious competition of its own. A fee war broke out, with players like Fidelity Investments and Charles Schwab angling to cut costs closer and closer to zero.

The craze for indexes took on qualities that made Bogle unhappy. In his later years, when he was no longer in charge at Vanguard, he railed against exchange-traded funds, or ETFs, which are index products that can be bought and sold like stocks. He worried ETFs

group of countries, there are only five who achieve more than a million barrels a day—Russia, Canada, Norway, Kazakhstan and Qatar.

This won’t make the US energy independent, though. The country will still be a net importer of crude to feed its massive refining industry. It will continue to need the heavy, high-sulfur oil produced in the Middle East, Canada and around the Caribbean to get the best from the refineries its companies have built along the Gulf coast. And, more than ever, it will need the overseas markets for the growing volume of excess products those plants will produce.

For the Opec+ countries, the growth in US exports will compete directly with their own sales and could force them to extend their output restraint yet again. Their original deal to cut output to rebalance supply and demand was supposed to have done its job by the middle of 2017. It is now set to run to the middle of 2019, and there is already talk of extending it further.

What thanks will Opec get for its help? Only angry tweets from the US president and the threat of litigation under proposed Nopec legislation.

encouraged the sort of wasteful trading that hurt investor returns. Few agreed with Bogle—even at Vanguard, which offered its own ETFs—and the funds now hold $3.5 trillion in assets in the US.

Bogle’s philosophy

Still, Bogle’s philosophy—that trying to beat the market was futile, especially if you’re an investing amateur—was winning the day. His advice became conventional wisdom for big companies setting up 401(k)s. They encouraged workers to buy and hold index funds with low fees, and discouraged them from getting in their own way by trading too much. Today, a generation of workers is plowing its retirement savings into index funds, whether they realize it or not.

Bogle was a folk hero to investing nerds and an outspoken enemy of stock-pickers and self-serving financial advisers. But he wasn’t a household name. The biggest beneficiaries of Bogle’s invention are regular investors who might have no idea who he was.

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Hope, fear mix on eve of Bangsamoro plebiscite

By Manuel T. Cayon

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@awimailbox Mindanao Bureau Chief & Rene Acosta @reneacostaBM

OTABATO CITY/MANILA—Amid fear of outbreaks of violence, election and security officials gave assurances everything is set for the historic plebiscite on Republic Act 11054, or the Bangsamoro Organic Law (BOL), with 2.1 million voters in Mindanao deciding whether it will be ratified or not.

Residents of the Autonomous Reg ion in Muslim Mindanao (ARMM), Isabela City in Basilan and Cotabato City will troop to the polling centers on Monday—the first of a two-part exercise—for the ratification of the BOL, which

some Moro leaders and their followers still oppose despite last-minute efforts by the government to drum up support.

The Philippine National Police and the Armed Forces of the Philippines declared on Sunday that all

troops deployed in Mindanao are ready for the plebiscite. Over the weekend, around 20,000 policemen and soldiers were deployed in Mindanao.

Still, tension ran high in Cotabato City, where many sectors have been vocal in opposing inclusion in the expanded autonomous region to be known as BARMM, for Bangsamoro Autonomous Region in Muslim Mindanao.

Cotabato City is one of two cities included in the areas of plebi sc ite des pite b e i n g e xcluded from the cur rent Autonomous Reg ion in Musl im Mindanao (A R MM). T he cit y has hosted the ARMM regional government center despite its exclusion from ARMM. As tension built up in the Cen-

tral Mindanao trading center, the rest of the plebiscite areas seemed headed for one of the most peaceful political exercises—in contrast to previously bloody political showdowns, often leading to failed elections.

Tension

JAMES B. JIMENEZ, Comelec spokesman, said the poll body is looking into a report from the citizen arm Bangsamoro Free Election Movement (BFEM) that six of its members who volunteered to help guard the ballot boxes at city hall here were shooed away on Saturday night by an alleged member of the city-maintained Barangay Peacekeeping Action Team (BPAT).

Continued on A4

CAMPAIGNERS for the BOL ratification are seen mobilizing in Cotabato City on the eve of the January 21 plebiscite. MANUEL T. CAYON

DOJ dismisses estafa case vs Okada on the supply of LED for Okada Manila

By VG Cabuag @villygc

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APANESE gambling magnate Kazuo Okada has been cleared by the Department of Justice on the estafa charge filed against him and several others in connection with the supply of light-emitting diode (LED) strips for the façade of Okada Manila, the $2-billion integrated resort and casino in Entertainment City.

In his 10-page decision, DOJ’s

Assistant State Prosecutor Alejandro C. Daguiso said Tiger Resort Leisure and Entertainment Inc. failed to prove a conspiracy between Okada and other respondents Kengo Takeda, Tetsuya Yokota and Aruze Philippines Manufacturing Inc. “From the records, there appears to be no concrete evidence at all of respondents’ [Tiger Resort] alleged conspiracy and representations that brought about the contract in question,” Daguiso said.

He affirmed the resolution of the Parañaque Prosecutors Office dismissing the case on May 15, 2018, for lack of probable cause.

The DOJ said Tiger Resor t’s complaint relied on the assertions of Dindo Espeleta, the company’s chief executive adviser, of his perceived close personal association between Okada and other respondents, without giving any specifics on particular dates during the period of negotiations for the award-

ing of the supply agreement.

The DOJ also said Tiger Resort’s complaint rendered itself defective after failing to present receipts as evidence, either of the LED strips upon delivery or of the payment for the items.

The official said Aruze Philippines did not misrepresent itself in the supply agreement, as it claimed that it would provide the LED strips and not manufacture them. The LED strips were manufactured by J&J Philippines Corp.

“We are not convinced of complainant’s argument that the last recital in the preamble of the supply agreement is a material part of the contract between the parties,” it said.

The DOJ also said Espeleta had every opportunity to conduct due diligence in the preparation for signing of the supply agreement, but he failed to do so.

“Also, the complainant did not refute the material assertions of respondent Yokota relative to the

actual problems encountered in the installation of the LED strips themselves, for which respondent APMI [Aruze] is not at all responsible.

“To summarize, we find that there is no probable cause to conclude that criminal fraud occurred, absent any additional evidence that can refute the assertion that complainant’s officers actually knew about the involvement of J&J in the manufacture of the LED strips,” the resolution said.

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, January 21, 2019

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RP Energy may convert coal plant to LNG facility

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By Lenie Lectura @llectura

HE planned 2 x 300 megawatt(MW) circulatingfluidized bed (CFB) coal-fired power plant of Redondo Peninsula Energy Inc. (RP Energy) in Subic, Zambales, may be converted to a liquefied natural gas (LNG) facility.

This is one of the options being considered by the power-generation arm of the Manila Electric Co. (Meralco) whose unit, Meralco PowerGen Corp.

(MGen), is a stakeholder of RP Energy.

MGen President Rogelio Singson said this option is being discussed with “in-house experts” and that a decision on what technology to pursue would be ready before the first half of year ends.

“We should be making a decision within the first half of this year regarding what to do next. We would have determined the technology and EPC [engineering, procurement and construction]. There are new technologies. It might no longer be CFB. We are also considering LNG,”

Singson said.

If the coal-power plant project would be converted to LNG, Singson said the capacity would “depend on economics.”

“It might not be that big, depending on economics. In general, we’re saying we’re open to changing the technology from original 2x300-megawatt (MW) CFB,” he said.

Separately, Meralco Chairman Manuel V. Pangilinan said stakeholders have yet to be informed pending results of ongoing studies.

“We have not raised it with them yet; we’re still doing our studies.

Hopefully, within the year. We need to know whether that Subic plant is a go or a no go, whatever fuel source

we eventually adopt,” Pangilinan said.

RP Energy Inc. is a partnership among Meralco, Aboitiz Power Corp. and Taiwan Cogeneration Corp. through their respective subsidiaries.

AboitizPower COO Emmanuel Rubio said recently RP Energy has cancelled the notice to proceed issued to the EPC contractor, Doosan Heavy Industries & Construction Co. Ltd., and Azul Torre Construction Inc. Among others, Rubio cited “instability in one of the slopes” and “a construction issue, something that was not foreseen” by the project proponent.

Nonetheless, Rubio said, Meralco is on top of the situation. “At the moment, it’s Meralco looking at a way to manage the movement.”

Singson said the stability of the site remains to be a challenge aside from the power supply agreement (PSA) that is pending before the Energy Regulatory Commission (ERC).

RP Energy signed in April 2016 a 20-year PSA with Meralco for a contracted capacity of 225 MW. A separate PSA for the balance of the 75 MW was also signed within the same year. Both PSAs remain pending with ERC. Without an ERC-approved PSA, the EPC contractor refused to honor the extended EPC contract. It then pre-

sented to Meralco a much-higher EPC cost, citing delays in the PSA approval.

“Without the PSA, we have no recourse, but to call them off and say we will now open our options not just with the Korean contractor. We’re now looking at other options. It might be new technology,” he said.

“In the meantime, we are holding off our site. We’re saying let this rainy season pass and see the stability of the site. When the Koreans started, there was heavy rainfall. That also caused some concern from the Koreans,” Singson said.

Pangilinan said an ongoing study will also determine how the gas would be transported.

“Well, if we do convert into gas, it will be a customer of the terminal. The question is how do we transport the gas from the terminal in Batangas? We need to have a dedicated ship to the gas plant in Subic. If the FSRU [floating storage and regasification unit] is in Batangas, then how do you transport gas from Batangas to Subic, and what is the cost building a pipeline? I think we’re studying it, not really sure if it’s feasible,” Singson said.

“Now, if you build a big gas complex that is a complement to the Batangas situation—3,000-MW capacity in Batangas then that justifies a terminal,” Pangilinan said.

Henry Sy Sr. led the professionalization of SM Group

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By VG Cabuag

@villygc

EFORE the death of Henry Sy Sr., the country’s acknowledged retail king, he made sure that the professionalism of the company he built from the ground up will come into fruition.

From the simple beginnings of “Shoe Mart,” Sy populated the country with his SM shopping malls and then expanded to other businesses to become one of the country’s large corporations owning many profitable businesses.

The SM group now owns BDO Unibank Inc., the country’s largest lender, and also China Bank, mining concerns, logistics firm, hotels and casino including half of City of Dreams Manila, the $1.5-billion integrated resort and casino in Entertainment City in Parañaque.

At first, Sy gave the management of his core businesses—shopping mall, property development and banks—to his children.

But recently, his children gave up top management positions to others, allowing a new breed of managers to join them, in part as a way to entice foreign investors to come in.

Although most of the members of the Sy family are still at the top of the company, the day-to-day operations are now being handled by other managers.

Teresita Sy-Coson, the eldest of Sy’s six chil-

DURING the annual stockholders’ meeting of SM Prime in 2017 at the SMX in Pasay City, Chairman Henry Sy Jr. (from left); SM Prime President Jeffrey Lim and SM Prime Director Hans Sy enter the meeting room together. Lim reported the company’s revenue reached P79.8 billion in 2016. NONIE REYES

dren, is the vice chairman of SM Investments Corp. and chairman of BDO. The holding firm is being led

by Frederic DyBuncio, SMIC’s president and CEO, while BDO is led by Nestor V. Tan. “I’m sure Teresita is being consulted on the key decision aspects of the company,” a longtime SM employee said.

Hans Sy, who previously ran the property side, also gave up his management position from SM Prime to his protégé, Jeffrey C. Lim,

Henry Jr., known as Big Boy, stepped down last year as president and CEO of National Grid Corp. of the Philippines (NGCP), to manage his own cement company. Big Boy owns a majority of NGCP. Sy’s other children are Harley, Elizabeth and Herbert.

Even Sy Sr. himself gave up his chairman position in SM Investments Inc. to his friend and longtime chief finance officer, Jose T. Sio. Sy died on Saturday. He was 94.

Organized labor mourns passing of Henry Sy Sr.

By Samuel P. Medenilla @sam_medenilla

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HE labor sector is mourning the death of retail king Henry Sy Sr. last Saturday.

Labor and Employment Secretary Silvestre H. Bello III said Sy will be missed; his SM Malls and other subsidiaries are among the top employment providers in the country.

“His biggest contribution [to the country] is opening up employment opportunities to millions of Filipinos.

It is unprecedented,” Bello told the BusinessMirror in a text message.

Trade Union Congress of the Philippines (TUCP) President Raymond Mendoza said the providing of employment helped improve the lives of many workers and their families.

“While Mr. Sy’s pioneering business model in the Philippine retail industry is world class, he always strove to

make sure his employees were part of his thriving business,” Mendoza said in a statement.

Federation of Free Workers (FFW) President and Nagkaisa labor coalition Chairman Sonny Matula said Sy’s struggle to rise from being a small-shoe retailer to managing the biggest chain of shopping malls in the country is a good example for workers.

“I ‘ve been telling workers and trade unionists to emulate the todo kayod of Henry Sy with his rags-to-riches story,” Matula said in a separate statement.

Sy’s relations with labor groups has been strained in previous years due to the reputation of his companies, particularly SM Supermalls, for employing contractual workers en masse.

However, as of last year, the company has voluntarily committed to the Department of Labor and Employment (DOLE) to initially regularize 11,660 of its contractual workers.

Associated Labor Union-TUCP (ALU-TUCP) said it is looking forward to the fulfillment of this commitment.

“We are hopeful that the 12,000 SM employees that Mr. Sy had promised to be regularized be fulfilled as committed in time,” ALU-TUCP Spokesman Alan Tanjusay said. ALU-TUCP National EVP Gerard Seno said they hope the regularization will become Sy’s legacy to the country’s work force, which his children could follow.

“We also recognize as part of his lasting legacy for workers and their families his last-minute efforts to commit to voluntarily regularize and directly hire thousands of SM employees into SM over a period of time,” Seno said.

The Banco de Oro Employees Association, which recently affiliated with ALU-TUCP, signed its five-year collective bargaining agreement with BDO management, chaired by Teresita Sy-Coson, Sy’s daughter.

“Sad day for we lost the father of our local retail industry and our leaders in business.

His pioneering ideas contributed greatly to our economic growth, especially the employment of many,” said Astro del Castillo, managing director at First Grade Finance Inc. said.

“Sy passed away peacefully in his sleep early Saturday morning,” the SM group said in a statement.

Wake is being held at Heritage Chapel in Taguig through Wednesday evening. Interment is on Thursday Sy had been known to be ailing the past several years, and would occasionally appear in public, especially during his holding firm’s annual stockholders’ meeting, on a wheelchair.

His appearances had become very rare in recent years, reserved mainly for the advocacy closest to his heart—the graduation of the scholars of SM Foundation, many of whom themselves becoming inspiring rags-to-riches stories.

Besides scholarships, he made substantive donations to hospitals and built clinics.

Sy is survived by his wife Felicidad and six children.

Born on December 25, 1923, Sy is the founder and chairman of SM Prime Holdings Inc., the Philippine operator of the SM chain of malls in the country and in China.

NGCP energizes transmission channels to power plants in Leyte-Samar

T

HE National Grid Corp. of the Philippines (NGCP) has successfully energized Line 2 of the Ormoc-Babatngon 138-kiloVolt transmission facility at a cost of P697.56 million.

The project gives way to a stronger transmission corridor from geothermal plants and other generating capacities in Leyte to Samar Island.

Before the second circuit was energized, the line was originally only a single circuit. Outages along the line, planned or unplanned, resulted in a loss of power for all the Samar provinces, which rely heavily on power supply from other islands.

“With the energization of the second circuit, transmission services in the area will now become more reliable and prolonged power interruptions will be minimized or avoided altogether,” the NGCP said. Besides the overhead transmission lines added, the Ormoc and Babatngon substations were also upgraded to serve the increased capacity of the line. Lenie Lectura

PAL asks DOTr to fast-track PHL airport network

By Lorenz S. Marasigan

L

@lorenzmarasigan

EGACY carrier Philippine Airlines (PAL) is urging the Department of Transportation (DOTr) to fast-track the approval, award and construction of different airports in the Philippines – particularly those aimed at either improving or replacing the current Manila air hub—as this could help the company further expand its route network.

Jaime J. Bautista, the company’s president, said his group is supportive of the unsolicited proposals submitted by various consortia for the development of the Ninoy Aquino International Airport (Naia), the Bulacan International Airport and Sangley International Airport as Naia is already congested.

“As an airline operator, we would like to have more destinations where we can operate.

Manila is already congested, and while we are expanding in Clark, we welcome new airports for all these developments will really support the requirement of the airline industry,” he said.

Naia Consortium, a team of Filipino conglomerates, offered to rehab, expand, operate, and maintain the Naia through a P102-billion investment spread across 15 years. For Sangley, the government is considering two unsolicited proposals.

The proposal of the Cavite government involves the development of Sangley Airport to have a total capacity of 130 million passengers per year and four runways through 2028. The P552.02-billion unsolicited offer, likewise, has a provision for the construction of mass-transit sys-

tems and new roads.

The other proposal—submitted by Sangley Airport Infrastructure Group Inc., a company led by the Sy family’s Belle Corp. and Solar Group’s All-Asia Resources and Reclamation Corp. (ARRC— involves the development of the airport to become a regional hub that can accommodate about 120 million passengers every year once fully developed.

It proposed to create a new air metropolis that involves the reclamation of about 2,500 hectares of land, the rehabilitation of the Danilo Atienza Air Base, and the construction of another terminal.

San Miguel Corp. proposed to develop the P754-billion Bu lacan Inter nationa l A irport, which is envisioned as a 2,500-hectare airport complex that will have a total capacity of 100 million passengers annually.

It also has a provision for the construction of an 8.4-kilometer airport toll road.

“We want the government to really support all these airport development projects,” Bautista said.

But what is most pressing, he noted, is the development of Sangley as a commercial airport.

“We have asked the DOTr to fast-track the completion of Sangley Airport. With the improvements of Sangley, we can operate our Q400s which we now fly out of Clark and Cebu.

So if Sangley is developed, we can move some of the flights from Clark to Sangley,” Bautista explained.

Currently, the transport department is developing Sangley as a commercial airport by extending the runway to accommodate bigger jets.

MVP Group eyes bigger role in e-vehicles

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HE group of Manuel V. Pangilinan intends to have a bigger role in electric vehicles (EVs).

“We might invest. They have a plant in Subic. We just don’t know which arm of Meralco, [Manila Electric Co.]” said the Meralco chairman who was referring to Star 8, which designed the ejeepneys for Meralco’s eSakay Inc. “I was asking them, how do they build it. I hope they can do it here. I think it was designed by an Israeli.” eSakay, a wholly owned subsidiary of Meralco, launched on Friday 15 “eJeeps” plying the MRT Buendia Station-Mandaluyong City Hall route.

It has invested close to P2 million per vehicle, said eSakay Chairman Alfredo S. Panlilio who is also Meralco’s senior vice-president.

Panlilio said the design of the eJeeps is from Israel, although the vehicles were manufactured and imported from China.

“That’s one way,” said Panlilio when asked if eSakay would be interested to partner with Star 8.

“He wants to explore some form of cooperation. The MVP group is thinking of how to propagate

EVs and the key there is supply.

Star 8 can be a partner. We continue to search for these potential partners.”

“But you know MVP. We take a look at a certain business, what are the requirements of business and there will be a time when we have to make decisions, negotiations on a partner, acquire or build it organically…and then we decide. Hopefully, it’s promising.

So, let’s see,” said Panlilio said.

He said Meralco has long been an advocate for the wider use of EVs in the country with the EV shuttling service and electric bike-sharing program at the Meralco Center in Ortigas.

“It soon became clear to us that electric vehicles were indeed a viable transport solution. That’s when we partnered with private companies, government institutions and now, public transport operators who expressed keen interest in utilizing EVs for their transport needs,” Panlilio said.

He said eSakay may expand its fleet of 15 to other routes. “We will first see the traffic situation. If there is demand, then we’d be more aggressive down the road,” he said. Lenie Lectura

B2

Companies BusinessMirror

Monday, January 21, 2019

Asia Yachting wants to set up marine service hub in PHL

Y

By Lorenz S. Marasigan

@lorenzmarasigan

ACHT broker Asia Yachting plans to build a marine service center in the Philippines to replicate its success in Hong Kong, as it aims to further expand its dealership and brokerage business in the country.

Oliver Besson, the company’s chief executive, said his group aims to build up its name in the Philip-

pines after successfully signing five exclusive dealership contracts with Monte Carlo Yachts, Prestige, Foun-

taine Pajot, Nautique and Scarab.

He said demand for yachts in the Philippines is generally high, albeit it is a niche market.

“With its more than 7,100 islands, beautiful waters, and warm weather, the Philippines is a haven for watersports as well as an exciting destination for sailing and yachting—comparable to other prime locations in the region and around the world,” Besson said.

The official said his company “aims to replicate its successful Hong Kong business model in the Philippines by setting up an advanced marine service center

staffed by experienced maritime technicians and specialists whose focus is on preventative maintenance to ensure yachts’ excellent condition and functionality.”

The company has an extensive and diverse brand portfolio, from multifunctional boats and luxury mega-yachts, to specialized wakesurfing boats and jetboats, plus secondhand boats.

“Filipinos are naturally drawn to the water regardless of age or socioeconomic status, and we look forward to offering our brands to this new and promising market,” Besson said.

MyTown to build dormitory in Bonifacio Global City

By VG Cabuag

@villygc

P

ROPERTY developer Philippines Urban Living Solutions Inc. (PULS) broke ground on its largest dormitory to date, envisioned to house over 1,000 beds, green spaces and other amenities.

The seven-story dormitory called MyTown Los Angeles is set to rise along Kalayaan Avenue, Makati City. It is located just a few minutes’ walk from Uptown. The building is positioned alongside the BGC-Ortigas Link Bridge set to be completed by end of 2019. SM Investments Corp. (SMIC) has a minority stake in PULS. The dorm will open in 2020.

“Location is key as we’ll bring much-needed MyTown co-living spaces to Uptown with this project. Moreover, the building is less than 15 minutes away from Makati CBD, 10 minutes from Ortigas, and other MyTown buildings are just a two- to fiveminute walk from MyTown Los Angeles,” said Mark Kooijman, PULS chief executive.

To date, PULS has already 16 dormitories that cater mainly to BGC and Makati markets, serving more than 10,000 young professionals, with a total number of 3,000 beds overall.

With the launch of MyTown Los Angeles, the brand aims to expand its network and tap the Ortigas central business district markets.

STOCK-MARKET OUTLOOK Last week

SHARE prices continued its upward swing last week, with the main index returning to the 8,000-point level as investors’ sentiments improved.

The benchmark Philippine Stock Exchange index (PSEi) gained 143.03 points to close the week at 8,047.12 points.

“It was a very exciting week for the PSE. The market started the week strong, saw a 2-percent pullback in the middle of the week and then ended the week strong,” said Christopher Mangun, research head at Eagle Equities Inc. The main index was up 1.5 percent on Monday, but gave up a total of 2 percent on Tuesday and Wednesday, but surged during the rest of the trading week.

“As the market continues to gain momentum, it would have moved in one direction this week if not for the major drop that we saw in the property sector in the middle of the week which dragged the main index lower. As the sentiment improves, more and more investors are coming back into this market which is evident in the trading value,” Mangun said.

Average value turnover for the week was at P7.32 billion, while foreign investors were net buyers at P5.19 billion.

All other subindices managed to post gains. The broader All Shares index was up 74.77 points to 4,804.92 points; the Financials index gained 43.31 to 1,815.63; the Industrial index surged 164.17 to 11,650.85; the Holding Firms index soared 119.62 to 8,003.19; the Property index rose 73.23 to 4,017.35; the Services index expanded 17.98 to 1,560.13; and the Mining and Oil index added 79.59 to 8,821.77.

Gainers slightly edged losers 111 to 109 and 27 shares were unchanged.

Top gainers for the week were Cemex Holdings Philippines Inc., Lopez Holdings Corp., PH Resorts Group Holdings Inc., Premiere Horizon Alliance Corp., MJC Investments Corp. and Benguet Corp. A. Top losers were Metro Alliance and Equities Corp. B, Asiabest Group International Inc., Philweb Corp., Shakey’s Pizza Ventures Inc., Berjaya Philippines Inc. and United Paragon Mining Corp.

This week

SHARE prices may slightly go down this week as investors will try to pocket gains they had last week, but many analysts believe the main index may hover above 7,900 to 8,000 points.

“Anticipate healthy technical breathers and gradually position buy entries on stocks poised to perform this year,” broker 2TradeAsia said in its research note.

It sees immediate support for the main index at 7,900 and resistance at 8,150.

Mangun said trading may go sideways as the share prices increase.

“GDP [gross domestic product] numbers for the last quarter of 2018 is expected to come in next week and if it comes in above expectations, then we may see it reflected in the market’s performance. For now, the services sector and holding firms are leading the PSEi’s rally,” he said.

Stock picks

BROKER Regina Capital and Development Corp. gave a buy recommendation during price dips on the stock of Megaworld Corp. after it broke out of its strong weeklong resistance of P5.15, following three attempts to breach the upper limit.

“This puts MEG closer to meeting its two-year resistance of P5.35, which it tapped back in December 2017. Conversely, this makes the P5.15 a strong support interim,” it said, adding that all indicators are now reflecting a strong bullishness for the stock.

Megaworld shares closed on Friday at P5.38 apiece.

Meanwhile, the broker also gave a buy recommendation on the stock of SM Prime Holdings Inc. when its support price of between P36 and P37 per share holds.

“As a testament to the buying pressure in SMPH, even after dropping 6.57 percent in a single day, it closed on its way back to its yearto-date resistance,” it said.

It added that though still far from the record P39.80 upper limit established during the previous weeks, the stock has the trade volume for another potential attempt.

SM Prime closed last week at P39.40 per share. VG Cabuag

mutual funds

January 18, 2019

PSE STOCK QUOTATIONS

www.businessmirror.com.ph

January 18, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED 59.7 59.9 59.7 59.9 59 59.9 9,360 559,424 BDO UNIBANK 131.9 132 131.5 135 131.4 132 7,037,250 937,774,427 BANK PH ISLANDS 93.1 94 93 94.85 92.75 93.1 1,925,090 180,657,358 CHINABANK 27.75 27.8 27.7 27.95 27.7 27.75 275,200 7,625,670 EAST WEST BANK 12.64 12.66 12.42 12.78 12.42 12.66 2,126,100 26,880,008 METROBANK 82.4 82.5 82.45 82.5 81.9 82.5 2,381,890 196,199,469 94 PB BANK 12.06 12.4 12.2 12.4 12.02 12.4 9,400 115,092 PBCOM 19.52 22 23.4 23.4 22 22 1,200 26,670 PHIL NATL BANK 44.25 44.3 44.75 44.75 44.3 44.3 73,600 3,274,370 PSBANK 58.55 58.85 60.3 60.3 58.85 58.85 68,520 4,050,112.5 RCBC 27 27.1 27 27 26.05 27 85,600 2,292,775 SECURITY BANK 179.4 179.7 178.5 181.4 177.5 179.7 892,350 160,338,379 BRIGHT KINDLE 1.45 1.47 1.47 1.48 1.45 1.47 9,000 13,180 BDO LEASING 2.32 2.37 2.37 2.37 2.36 2.37 4,000 9,470 COL FINANCIAL 15.82 16.18 - - - - - - FIRST ABACUS 0.62 0.66 0.66 0.67 0.61 0.66 76,000 50,080 FERRONOUX HLDG 4.61 4.65 4.85 4.85 4.59 4.61 404,000 1,896,880 FILIPINO FUND 7.6 9.25 - - - - - - IREMIT 1.45 1.46 - - - - - - MEDCO HLDG 0.455 0.475 0.45 0.48 0.44 0.45 790,000 353,250 MANULIFE 776 820 825 825 825 825 20 16,500 NTL REINSURANCE 1.01 1.03 1 1.04 0.99 1.01 962,000 976,800 PHIL STOCK EXCH 180.1 182.5 183.1 183.1 180 180 780 142,542 SUN LIFE 1,795 1,800 1800 1,800 1,800 1,800 65 117,000 VANTAGE 1.15 1.16 1.15 1.15 1.15 1.15 16,000 18,400

253,828 16,961,361 9,654,074.5 (71,450) (5,651,374) ,111,338.4998 53,635 486,098 134,000 21,065,632 -

INDUSTRIAL

ALSONS CONS 1.39 1.4 1.38 1.4 1.38 1.4 270,000 376,290 ABOITIZ POWER 37.7 37.95 36 38 35.9 37.95 2,921,900 109,511,670 58,704,050 BASIC ENERGY 0.238 0.248 0.249 0.249 0.238 0.248 1,760,000 424,850 FIRST GEN 20 20.1 19.98 20.2 19.98 20 1,397,700 28,124,846 1,800,794 FIRST PHIL HLDG 73.2 73.6 73.1 74 73.1 73.4 211,580 15,545,220.5 688,038 MERALCO 369 369.2 380 380 369 369.2 673,240 249,217,156 (3,115,130) MANILA WATER 27.45 27.5 27 27.5 27 27.5 729,100 20,036,795 (3,666,620) PETRON 7.72 7.76 7.7 7.8 7.7 7.73 3,369,000 26,096,450 (3,272,171) PETROENERGY 3.76 3.8 3.76 3.77 3.76 3.76 148,000 556,510 PHINMA ENERGY 1.29 1.3 1.32 1.33 1.26 1.3 24,344,000 31,197,040 (4,785,710) PH RESORTS GRP 6.67 6.7 6.84 6.84 6.52 6.67 646,200 4,306,324 (6,690) PHX PETROLEUM 10.9 11 10.92 11 10.9 11 24,000 262,108 PILIPINAS SHELL 47.55 47.6 47.7 47.95 47.55 47.6 502,100 23,955,005 (13,853,260) SPC POWER 6.4 6.47 6.35 6.7 6.35 6.4 800,900 5,193,825 (1,348,215) AGRINURTURE 16.12 16.22 16.38 16.38 16 16.22 641,700 10,374,616 2,426,512 BOGO MEDELLIN 82 90 90 90 90 90 140 12,600 CNTRL AZUCARERA 16.54 17.86 17.94 17.94 16.52 16.52 3,400 59,734 CENTURY FOOD 15.14 15.48 15.6 15.88 15.06 15.14 456,900 7,025,874 (2,682,016) DEL MONTE 6.31 6.64 6.62 6.64 6.3 6.64 53,400 344,424 (253,842) DNL INDUS 11.74 11.76 11.76 11.8 11.68 11.76 3,831,200 44,941,304 3,228,962 EMPERADOR 7.29 7.31 7.25 7.4 7.25 7.29 2,258,300 16,495,164 (11,673,194) SMC FOODANDBEV 90.1 90.15 87.55 91 87.55 90.15 1,069,340 95,233,945 3,945,322 ALLIANCE SELECT 1.09 1.1 1.07 1.1 1.06 1.09 11,067,000 11,902,050 76,470 GINEBRA 26.4 26.8 26.2 26.9 26.2 26.35 28,200 746,240 264,000 JOLLIBEE 324 324.8 315 324.8 314.2 324.8 944,340 303,655,046 119,064,368 MACAY HLDG 10.1 10.54 10.2 10.22 10.1 10.1 3,800 38,578 MAXS GROUP 12.4 12.42 12.08 12.5 12.08 12.42 2,169,700 26,891,322 (1,390,318) MG HLDG 0.18 0.183 0.177 0.183 0.177 0.183 20,000 3,600 3,600 PEPSI COLA 1.37 1.38 1.35 1.39 1.33 1.38 5,876,000 8,000,300 259,540 SHAKEYS PIZZA 11.8 11.98 12.08 12.08 11.8 11.8 2,226,300 26,718,868 (1,428,146) ROXAS AND CO 1.83 1.84 1.87 1.87 1.83 1.84 422,000 779,190 1,840 SWIFT FOODS 0.132 0.133 0.132 0.132 0.132 0.132 20,000 2,640 UNIV ROBINA 142.7 142.9 139.9 143 138.9 142.9 1,137,450 160,672,003 (4,914,327) VITARICH 2.12 2.13 2.06 2.12 2.06 2.12 6,104,000 12,795,730(1, 093,269.9997) VICTORIAS 2.31 2.38 2.33 2.33 2.32 2.32 38,000 88,260 CEMEX HLDG 2.48 2.49 2.2 2.57 2.2 2.49 128,824,000 309,030,690(76 ,737,689.9996) DAVINCI CAPITAL 6.46 6.66 6.45 6.67 6.45 6.66 7,700 51,036 EAGLE CEMENT 15.82 15.88 15.46 16.26 15.46 15.88 3,970,800 63,236,254 (6,880,446) EEI CORP 8.1 8.2 8.02 8.2 8 8.2 163,300 1,322,890 (313,644) HOLCIM 6.34 6.35 6.15 6.48 6.15 6.35 2,653,000 16,905,609 (1,734,736) MEGAWIDE 17.16 17.18 17.2 17.32 17.12 17.18 340,300 5,865,638 ( 174,945.9997) PHINMA 9.1 9.17 9.3 9.3 9.1 9.1 5,000 45,719 TKC METALS 0.88 0.92 0.88 0.92 0.88 0.92 19,000 17,360 VULCAN INDL 1.55 1.57 1.58 1.58 1.53 1.55 3,071,000 4,768,180 143,590 CHEMPHIL 133.5 140 140 140 140 140 50 7,000 CROWN ASIA 1.75 1.8 1.79 1.8 1.75 1.75 96,000 171,620 80,720 MABUHAY VINYL 3.08 3.14 3.15 3.15 3.02 3.14 11,000 34,220 (12,560) PRYCE CORP 5.81 5.85 5.8 5.81 5.8 5.8 13,900 80,688 GREENERGY 2.16 2.17 2.19 2.19 2.14 2.17 3,310,000 7,143,730 272,480 INTEGRATED MICR 12.76 12.8 12.74 13 12.22 12.8 1,690,900 21,416,014 3,546,172 IONICS 1.86 1.87 1.9 1.9 1.86 1.86 256,000 477,290 (7,510) PANASONIC 5.7 5.89 5.7 5.7 5.7 5.7 1,500 8,550 SFA SEMICON 1.47 1.51 1.45 1.51 1.45 1.51 116,000 171,700 CIRTEK HLDG 30.95 31.3 31.3 31.3 31 31.3 68,700 2,139,450

HOLDING & FRIMS ABACORE CAPITAL 0.69 0.7 0.68 0.7 0.68 0.69 10,877,000 7,512,500 (73,830) ASIABEST GROUP 25.75 25.8 25.25 27 25.25 25.75 102,400 2,625,470 AYALA CORP 938.5 939 925 942 925 939 402,130 377,288,005 (32,555,255) ABOITIZ EQUITY 67.45 67.9 66 68.65 65.95 67.9 2,566,800 173,875,947.5 73,734,253 ALLIANCE GLOBAL 14.28 14.3 13.96 14.28 13.74 14.28 12,213,700 172,261,014 108,317,258 ANSCOR 6.5 6.55 6.5 6.5 6.5 6.5 14,500 94,250 54,600 ANGLO PHIL HLDG 0.77 0.8 0.77 0.8 0.77 0.8 68,000 52,540 ATN HLDG A 1.42 1.43 1.43 1.43 1.39 1.43 3,464,000 4,885,890 ATN HLDG B 1.41 1.42 1.43 1.43 1.41 1.42 2,408,000 3,412,220 2,552,910 COSCO CAPITAL 7.18 7.22 7.15 7.24 7.14 7.2 3,273,800 23,613,473 1,561,683 DMCI HLDG 12.12 12.16 12.48 12.5 12.12 12.12 5,045,500 62,084,064 (34,401,670) FILINVEST DEV 12.26 12.38 12.78 12.8 12.26 12.26 422,200 5,220,538 (584,238) FJ PRINCE A 4.41 5.23 4.3 4.3 4.3 4.3 100 430 FORUM PACIFIC 0.215 0.239 0.213 0.239 0.213 0.239 80,000 17,300 GT CAPITAL 1,049 1,050 1017 1,059 1,003 1,050 181,630 187,800,115 81,388,660 HOUSE OF INV 5.91 6 5.91 5.91 5.91 5.91 6,100 36,051 JG SUMMIT 66.2 66.25 65.3 66.95 65.3 66.25 2,957,090 195,704,066 96,461,844.5 LODESTAR 0.61 0.62 0.62 0.62 0.6 0.61 11,000 6,710 LOPEZ HLDG 5.68 5.69 5.75 5.88 5.49 5.69 4,103,300 23,415,817 476,089 LT GROUP 15.1 15.3 15.3 15.34 15.06 15.1 11,951,100 180,550,624 (3,766,664) MABUHAY HLDG 0.61 0.62 0.64 0.64 0.61 0.62 408,000 255,470 METRO PAC INV 5 5.01 4.99 5.05 4.98 5.01 23,730,000 118,897,740 (1,667,940) PACIFICA 0.037 0.038 0.038 0.038 0.037 0.037 1,400,000 52,700 PRIME ORION 2.6 2.62 2.56 2.65 2.56 2.62 421,000 1,101,720 PRIME MEDIA 1.16 1.18 1.16 1.16 1.16 1.16 2,000 2,320 REPUBLIC GLASS 2.55 2.67 2.55 2.55 2.55 2.55 2,000 5,100 SOLID GROUP 1.38 1.43 1.38 1.43 1.37 1.43 75,000 103,600 SYNERGY GRID 474 517 480 480 474 474 610 291,720 SM INVESTMENTS 973 976 956 979 956 976 286,650 278,570,745 68,236,865 SAN MIGUEL CORP 155.5 155.6 150.8 156 150 155.5 599,810 92,900,150 23,990,358 SOC RESOURCES 0.74 0.77 0.74 0.74 0.74 0.74 4,000 2,960 TOP FRONTIER 250 260 250 260 250 250 100,580 25,146,050 (65,126) WELLEX INDUS 0.255 0.26 0.26 0.26 0.25 0.255 1,930,000 491,350 ZEUS HLDG 0.219 0.224 0.224 0.224 0.224 0.224 10,000 2,240 -

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc * 264.83 -11.95% 4.58% 3.79% 5% ATRAM Alpha Opportunity Fund, Inc.* 1.4764 -9.82% 12.83% 3.51% 2.47% ATRAM Philippine Equity Opportunity Fund, Inc.* 4.1016 -13.14% 6.83% 2.05% 5.09% Climbs Share Capital Equity Investment Fund Corp.* 0.9477 -6.35% n.a. n.a. 6.42% First Metro Consumer Fund on MSCI Phils. IMI, Inc.* 0.8673 n.a. n.a. n.a. 5.68% First Metro Save and Learn Equity Fund,Inc.* 5.5418 -10.11% 4.57% 2.93% 5.14% MBG Equity Investment Fund, Inc. * 121.94 4.79% n.a. n.a.

4.71% One Wealthy Nation Fund, Inc.* 0.8812 -13.54% -3.37% n.a. 5.86% PAMI Equity Index Fund, Inc.* 52.1609 -10.27% 6.17% n.a.

6.01% Philam Strategic Growth Fund, Inc.* 542.22 -10.69% 4.53% 3.02% 5.34% Philequity Dividend Yield Fund, Inc.* 1.3127 -8.37% 6.1% n.a. 4.68% Philequity Fund, Inc.* 38.5953 -8.51% 7.05% 5.58% 5.36% PROPERTY ARTHALAND CORP 0.91 0.92 0.86 0.91 0.82 0.91 9,475,000 8,089,360 (1,060,710) Philequity MSCI Philippine Index Fund, Inc.* **** 1.039 n.a. n.a. n.a. n.a.

AYALA LAND 44.95 45 44.65 45.15 44.2 45 11,539,200 518,801,335 118,820,730 ARANETA PROP 1.67 1.7 1.67 1.71 1.66 1.71 589,000 993,810 Philequity PSE Index Fund Inc.* 5.264 -10.18% 7.06% 5.7% 6.15% BELLE CORP 2.44 2.45 2.42 2.58 2.42 2.45 2,385,000 5,932,620 ( 561,169.9998) A BROWN 0.83 0.84 0.83 0.84 0.82 0.84 1,119,000 926,190 CITYLAND DEVT 0.88 0.9 0.9 0.9 0.87 0.9 24,000 21,470 Philippine Stock Index Fund Corp.* 879.38 -9.98% 6.95% 5.76% 6.14% CROWN EQUITIES 0.26 0.265 0.265 0.265 0.255 0.265 14,980,000 3,881,900 CEBU HLDG 6.11 6.28 6.2 6.28 6.1 6.28 62,500 383,618 Soldivo Strategic Growth Fund, Inc. * 0.9003 -9.53% 3.94% n.a. 4.54% CEB LANDMASTERS 4.19 4.2 4.27 4.27 4.18 4.19 264,000 1,107,700 CENTURY PROP 0.435 0.44 0.435 0.44 0.43 0.435 1,700,000 739,050 Sun Life Prosperity Philippine Equity Fund, Inc.* 4.2563 -9.86% 6.36% 3.97% 4.86% CYBER BAY 0.385 0.4 0.375 0.41 0.375 0.385 310,000 119,950 DOUBLEDRAGON 21.35 21.4 20.85 21.5 20.65 21.35 672,900 14,156,235 2,288,080 Sun Life Prosperity Philippine Stock Index Fund, Inc.* 1.0124 -10.31% 6.8% n.a. 6.09% DM WENCESLAO 8.68 8.7 8.64 8.89 8.64 8.7 2,929,000 25,376,587 20,701,092 EMPIRE EAST 0.5 0.51 0.5 0.52 0.5 0.51 1,732,000 891,120 (442,580) United Fund, Inc.* 3.6746 -7.03% 8.23% 4.48% 4.96% EVER GOTESCO 0.119 0.12 0.118 0.119 0.118 0.119 490,000 58,030 FILINVEST LAND 1.56 1.57 1.46 1.57 1.46 1.57 48,132,000 73,535,590 2,431,650 Exchange Traded Fund GLOBAL ESTATE 1.17 1.19 1.17 1.19 1.16 1.19 405,000 476,190 (62,570) 8990 HLDG 8.74 8.75 8.75 8.75 8.67 8.75 151,900 1,327,789 920,911 PHIL INFRADEV 2.17 2.18 2.14 2.19 2.08 2.18 9,747,000 20,689,460 (4,410) First Metro Phil. Equity Exchange Traded Fund, Inc.* ***^ 117.5603 -9.66% 8.12% 6.85% CITY AND LAND 0.81 0.82 0.82 0.82 0.82 0.82 19,000 15,580 MEGAWORLD 5.38 5.39 5.27 5.38 5.24 5.38 55,530,200 296,595,340184 ,347,779.9999 6.15% MRC ALLIED 0.425 0.43 0.44 0.44 0.42 0.425 52,710,000 22,430,250 (2,017,600) PRIMEX CORP 3.53 3.54 3.55 3.55 3.51 3.54 1,135,000 4,005,090 357,540 Primarily invested in foreign currency securities ROBINSONS LAND 22.95 23.2 22.9 23.3 22.6 23.2 2,733,800 63,027,435 1,339,705 PHIL REALTY 0.415 0.42 0.415 0.42 0.41 0.42 1,150,000 474,050 ATRAM AsiaPlus Equity Fund, Inc.** $0.9594 -17.14% 5.98% 0.16% 3.26% ROCKWELL 2.03 2.05 2.02 2.05 2.02 2.02 36,000 72,750 SHANG PROP 3.1 3.12 3.12 3.12 3.12 3.12 23,000 71,760 Sun Life Prosperity World Voyager Fund, Inc.* $1.1716 -10.97% n.a. n.a. 6.02% STA LUCIA LAND 1.35 1.36 1.38 1.38 1.34 1.36 1,434,000 1,946,250 94,500 SM PRIME HLDG 39.3 39.4 38.15 39.4 38 39.4 14,067,400 547,153,045 331,026,610 Balanced Funds STARMALLS 6.15 6.16 6.26 6.26 6.08 6.15 211,400 1,298,832 (17,661) SUNTRUST HOME 0.7 0.73 0.7 0.7 0.7 0.7 100,000 70,000 (70,000) VISTA LAND 5.83 5.87 5.82 5.91 5.82 5.87 5,224,100 30,656,427 (9,492,568) Primarily invested in Peso securities

SERVICES ATRAM Dynamic Allocation Fund, Inc.* 1.7208 -9.54% 1.27% -0.24% 4.22% ABS CBN 22.45 22.5 21.3 22.5 21.3 22.5 391,900 8,550,025 GMA NETWORK 5.89 5.9 5.88 5.91 5.87 5.9 381,000 2,247,406 ATRAM Philippine Balanced Fund, Inc.* 2.2878 -8.47% 3.99% 1.69% 3.56% MANILA BULLETIN 0.345 0.365 0.345 0.345 0.345 0.345 30,000 10,350 MLA BRDCASTING 15.92 17.94 17.96 17.96 17.96 17.96 100 1,796 First Metro Save and Learn Balanced Fund Inc.* 2.6456 -5.78% 1.83% -0.43% 4% GLOBE TELECOM 2,082 2,092 2062 2,096 2,062 2,092 28,355 59,149,670 13,677,520 PLDT 1,247 1,248 1237 1,248 1,237 1,247 48,240 60,076,715 20,024,895 Grepalife Balanced Fund Corporation* 1.3531 -8.81% n.a. n.a. 3.74% APOLLO GLOBAL 0.041 0.042 0.042 0.042 0.041 0.041 17,700,000 731,000 DFNN INC 7.44 7.47 7.2 7.45 7.1 7.44 61,700 452,562 100,872 NCM Mutual Fund of the Phils., Inc* 1.9005 -6.24% 3.28% 2.7% 3.11% ISLAND INFO 0.134 0.135 0.139 0.14 0.132 0.135 5,820,000 783,930 (2,650) ISM COMM 6.26 6.27 6.41 6.47 6.2 6.26 5,729,900 36,010,436 (1,508,437) PAMI Horizon Fund, Inc.* 3.6032 -10.1% 1.74% 1.63% 2.09% JACKSTONES 3.11 3.2 3.12 3.12 3.12 3.12 6,000 18,720 NOW CORP 3.77 3.78 3.75 3.81 3.57 3.78 7,041,000 26,090,240 (454,380) TRANSPACIFIC BR 0.425 0.43 0.435 0.435 0.425 0.43 11,190,000 4,772,300 (38,250) Philam Fund, Inc.* 16.3447 -8.82% 2.08% 1.72% 2.75% PHILWEB 3.17 3.18 3.2 3.2 3.08 3.17 1,876,000 5,880,050 (1,121,890) 2GO GROUP 13.9 14 13.9 14 13.82 14 86,100 1,196,856 22,208 Solidaritas Fund, Inc.* 2.1369 -6.35% 3.35% 3.45% 3.12% CEBU AIR 81.3 82.25 80.45 82.3 80 81.3 421,360 34,279,101 3,585,097.5 CHELSEA 6.76 6.77 6.89 6.89 6.75 6.76 980,100 6,647,057 146,189 Sun Life of Canada Prosperity Balanced Fund, Inc.* 3.7824 -7.4% 3.27% 2.36% 3.59% INTL CONTAINER 106.8 108 106 109 104 108 1,231,670 132,672,639 7,054,152 LBC EXPRESS 14.02 14.86 14.88 14.88 14.88 14.88 100 1,488 Sun Life Prosperity Dynamic Fund, Inc.* 0.9542 -8.06% 2.55% n.a. 3.53% LORENZO SHIPPNG 0.8 0.81 0.85 0.85 0.81 0.81 181,000 146,650 MACROASIA 17.6 17.82 17.8 17.98 17.52 17.6 870,300 15,404,070 32,640 Primarily invested in foreign currency securities METROALLIANCE A 2.07 2.08 2.22 2.22 2.03 2.07 1,388,000 2,864,660 METROALLIANCE B 2.06 2.11 2.06 2.06 2.06 2.06 7,000 14,420 Cocolife Dollar Fund Builder, Inc.* $0.03544 -1.69% 0.05% 1.76% 0.54% PAL HLDG 8.7 8.9 8.99 8.99 8.9 8.9 5,500 49,415 HARBOR STAR 2.99 3 3.08 3.1 2.98 3 3,752,000 11,296,450 146,840 ACESITE HOTEL 1.33 1.42 1.44 1.44 1.43 1.43 12,000 17,170 PAMI Asia Balanced Fund, Inc.* $0.9548 -12.48% 4.75% -0.71% 1.99% BOULEVARD HLDG 0.056 0.057 0.061 0.065 0.056 0.057 246,570,000 14,703,740 4,500 DISCOVERY WORLD 2.1 2.25 2.12 2.12 2.1 2.1 13,000 27,340 Sun Life Prosperity Dollar Advantage Fund, Inc.* $3.4515 -8.24% 5.31% 1.36% 4.33% WATERFRONT 0.74 0.76 0.75 0.77 0.74 0.76 1,372,000 1,030,820 CENTRO ESCOLAR 7.75 7.99 7.99 7.99 7.99 7.99 100 799 Sun Life Prosperity Dollar Wellspring Fund, Inc.* $1.0375 -8.38% n.a. n.a. 2.72% IPEOPLE 10.9 11.34 11.38 11.38 11.38 11.38 200 2,276 1,138 STI HLDG 0.75 0.76 0.78 0.78 0.74 0.76 16,731,000 12,632,940 2,898,170 Bond Funds BERJAYA 3.07 3.09 3.21 3.21 3 3.07 3,736,000 11,436,410 156,130 BLOOMBERRY 10.8 10.84 10.62 10.98 10.6 10.8 9,302,000 100,048,994 70,341,584 Primarily invested in Peso securities PACIFIC ONLINE 9.48 9.77 9.7 9.7 9.46 9.56 26,000 247,536 LEISURE AND RES 3.25 3.31 3.31 3.35 3.21 3.3 1,428,000 4,669,320 297,000 ALFM Peso Bond Fund, Inc.* 344.18 2.01% 2.2% 1.96% 0.23% MANILA JOCKEY 5 5.16 5 5.22 4.99 5.16 95,100 476,556 23,000 PREMIUM LEISURE 0.91 0.93 0.92 0.95 0.92 0.92 15,747,000 14,691,420 (107,750) PHIL RACING 7.3 9.45 9 9.45 9 9.45 1,000 9,180 ATRAM Corporate Bond Fund, Inc.* ^^ 1.8574 -2.21% -0.53% -0.41% -0.1% TRAVELLERS 5.5 5.53 5.54 5.54 5.48 5.5 246,600 1,358,238 (101,857) METRO RETAIL 2.75 2.76 2.73 2.8 2.73 2.75 2,559,000 7,048,590 Cocolife Fixed Income Fund, Inc.* 2.9799 5.46% 5.4% 5.28% 0.31% PUREGOLD 45.95 46 46 46.9 46 46 4,597,800 213,584,720 (4,438,630) ROBINSONS RTL 86 86.35 85.5 86.35 85 86 243,990 20,891,468.5 (109,983.5) Ekklesia Mutual Fund Inc.* 2.1371 1.29% 1.76% 1.68% 0.31% PHIL SEVEN CORP 116 119.4 119.3 119.4 116 116 8,240 983,656 (166,004) SSI GROUP 2.47 2.49 2.4 2.51 2.4 2.47 16,920,000 41,687,540 (845,810) First Metro Save and Learn Fixed Income Fund,Inc.* 2.2229 0.13% 0.35% 0.5% 0.62% WILCON DEPOT 13.26 13.28 13.84 13.84 13.26 13.26 1,342,000 17,934,064 3,526,096 APC GROUP 0.43 0.44 0.435 0.44 0.43 0.43 2,290,000 998,400 Grepalife Fixed Income Fund Corp.* P 1.5877 -1.67% 0.24% 0.09% 1.49% EASYCALL 16.4 16.7 16.82 16.98 16.4 16.4 194,800 3,226,044 (16,544) PAXYS 3.41 3.59 3.39 3.59 3.39 3.59 15,000 52,350 Philam Bond Fund, Inc.* 3.874 -4.52% -0.63% 0.01% -1.17% SBS PHIL CORP 7.7 7.82 7.82 7.82 7.6 7.7 7,500 57,610 Philequity Peso Bond Fund, Inc.* 3.565 2.08% 1.12% 1.01% 1.36% MINING & OIL ATOK 14.62 15.2 14.54 15.38 14.52 15.38 1,100 16,060 APEX MINING 1.62 1.63 1.6 1.63 1.6 1.63 758,000 1,222,630 (19,320) Soldivo Bond Fund, Inc. * 0.9082 -1.75% 0.06% n.a.

1.75% ABRA MINING 0.0021 0.0022 0.002 0.0021 0.002 0.0021 219,000,000 451,700 ATLAS MINING 2.8 2.81 2.68 2.88 2.66 2.8 1,952,000 5,425,350 2,660 Sun Life of Canada Prosperity Bond Fund, Inc.* 2.8075 0.79% 1.71% 1.28% 1.5% COAL ASIA HLDG 0.29 0.3 0.3 0.3 0.295 0.295 160,000 47,450 CENTURY PEAK 1.98 1.99 2.02 2.02 1.99 1.99 1,101,000 2,204,360 39,800 Sun Life Prosperity GS Fund, Inc.* 1.563 0.5% 1.31% 0.84% 1.5% DIZON MINES 7.69 7.85 7.85 7.85 7.7 7.7 1,100 8,503 FERRONICKEL 1.67 1.69 1.69 1.7 1.67 1.67 18,268,000 30,831,630 822,360 Primarily invested in foreign currency securities GEOGRACE 0.223 0.229 0.218 0.223 0.217 0.223 490,000 108,000 LEPANTO A 0.121 0.122 0.119 0.122 0.119 0.121 1,950,000 234,980 ALFM Dollar Bond Fund, Inc. * $449.23 0.69% 2.29% 3.09% 0.21% MANILA MINING A 0.0075 0.0078 0 0.0074 0.0075 0.0074 0.0075 12,000,000 89,800 MANILA MINING B 0.0072 0.0089 0 0.0072 0.0072 0.0072 0.0072 1,000,000 7,200 ALFM Euro Bond Fund, Inc. * Є212.82 -0.51% 1.1% 1.55% 0.08% MARCVENTURES 1.21 1.24 1.24 1.25 1.24 1.24 143,000 177,400 NIHAO 1.04 1.07 1.09 1.09 1.05 1.07 141,000 152,020 NICKEL ASIA 2.62 2.64 2.62 2.66 2.6 2.64 4,116,000 10,846,750 4,882,930 ATRAM Total Return Dollar Bond Fund, Inc.** $1.1325 0.01% 1.09% 1.99% 0.6% OMICO CORP 0.63 0.66 0.62 0.68 0.62 0.68 481,000 318,910 ORNTL PENINSULA 1.02 1.03 1.05 1.06 0.97 1.02 2,261,000 2,298,560 First Metro Save and Learn Dollar Bond Fund, Inc.* $0.0249 -0.4% 0.82% n.a.

0.4% PX MINING 4.15 4.17 4.16 4.17 4.08 4.17 3,029,000 12,520,360 2,012,030 SEMIRARA MINING 24 24.2 24 24.15 24 24 1,730,200 41,669,220 (21,836,645) Grepalife Dollar Bond Fund Corp.* $1.6922 -4.49% -0.49% 1.1% 0.12% UNITED PARAGON 0.0068 0.0072 0 0.0068 0.0068 0.0067 0.0068 9,000,000 60,600 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.013 1,600,000 19,500 MAA Privilege Dollar Fixed Income Fund, Inc. N.S. N.S. N.S. N.S. N.S. ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.013 600,100,000 7,205,000 2,400 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 3,000,000 38,700 MAA Privilege Euro Fixed Income Fund, Inc. ЄN.S. N.S. N.S. N.S. N.S. PHINMA PETRO 3.67 3.87 3.91 3.92 3.56 3.87 36,000 135,730 PXP ENERGY 15.46 15.52 15.5 15.6 15.4 15.46 462,200 7,154,320 (972,746) PAMI Global Bond Fund, Inc* $1.0387 -2.85% -0.49% -2.26% 0.11%

PREFFERED

HOUSE PREF A 95 96 96 96 95.95 95.95 1,300 124,795 Philam Dollar Bond Fund, Inc.* $2.1917 -2.63% 1.09% 2.83% 0.94% AC PREF B1 461 472 472 472 472 472 110 51,920 AC PREF B2 494.8 497.8 497.8 497.8 497.8 497.8 20 9,956 Philequity Dollar Income Fund Inc.* $0.0571023 -0.1% 0.94% 1.86% 0.21% DD PREF 98 98.45 98.45 98.45 98.45 98.45 12,250 1,206,012.5 SMC FB PREF 2 970 974 975 975 974 974 300 292,210 Sun Life Prosperity Dollar Abundance Fund, Inc.* $2.8912 -3.99% 0.45% 1.78% 0.67% FGEN PREF G 103 104 104 104 104 104 130 13,520 GTCAP PREF A 875 919.5 918 918 918 918 20 18,360 Money Market Funds GTCAP PREF B 900 905 900 905 900 905 70 63,050 LR PREF 1.01 1.02 1.02 1.02 1.02 1.02 23,000 23,460 Primarily invested in Peso securities MWIDE PREF 100 100.5 100 100.5 100 100.5 210 21,015 (18,000) PNX PREF 3A 100.2 100.5 100.2 100.5 100.2 100.5 1,730 173,358 ALFM Money Market Fund, Inc.* 121.16 2.91% 1.94% 1.61% 0.26% PNX PREF 3B 105 106 105.5 106 105.5 106 3,000 317,960 21,200 PCOR PREF 2A 995 999 998 998 995 998 220 219,500 Philam Managed Income Fund, Inc.* 1.181 1.87% 0.73% 0.5% -0.08% SMC PREF 2B 75.2 75.25 75.35 75.35 75.25 75.25 5,330 401,090.5 SMC PREF 2C 76.2 76.4 76.2 76.4 76.2 76.4 2,620 199,844 38,150 SMC PREF 2D 73 73.5 73.5 73.5 73 73 9,060 665,160 Sun Life Prosperity Money Market Fund, Inc.* 1.2212 2.73% 2.3% 1.65% 0.18% SMC PREF 2F 74.5 74.9 74.85 74.9 74.85 74.9 4,640 347,436 SMC PREF 2H 73.75 74.25 74.25 74.25 74 74 234,440 17,350,495 Primarily invested in foreign currency securities SMC PREF 2I 73.35 73.5 73.5 73.5 73.5 73.5 710 52,185 Sun Life Prosperity Dollar Starter Fund, Inc.* $1.0171 1.81% n.a. n.a. 0.12% PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 18.74 18.9 18.68 18.8 18.68 18.76 730,800 13,703,382 (11,786,066)

GMA HLDG PDR 5.7 5.74 5.65 5.78 5.65 5.7 318,400 1,814,201 * - NAVPS as of the previous banking day ** - NAVPS as of two banking days ago *** - Listed in the PSE. WARRANTS LR WARRANT 1.98 2 1.99 1.99 1.96 1.98 131,000 258,600

SMALL & MEDIUM ENTERPRISES ITALPINAS 5 5.01 5.1 5.15 4.95 5.01 870,600 4,364,028 **** - Launch date is January 3, 2019.

MAKATI FINANCE 2.68 2.84 2.87 2.87 2.87 2.87 4,000 11,480 XURPAS 1.57 1.58 1.54 1.59 1.51 1.57 6,030,000 9,359,870 21,540 ^ - Adjusted due to stock dividend issuance last June 5, 2018. ^^ - Adjusted due to cash dividend

EXHANGE TRADE FUNDS issuance last January 29, 2018.

FIRST METRO ETF 118.6 119 118.1 119 118.1 119 26,060 3,097,417 -

www.businessmirror.com.ph

The World BusinessMirror

Editor: Angel R. Calso • Monday, January 21, 2019

B3

China slump hammers consumer spending

B

EIJING—Yu Mingang had a good job helping Chinese manufacturers prepare to sell shares to the public until the cooling economy derailed those plans.

As demand for auditing services sank, the 25-year-old accountant in the eastern city of Hangzhou was laid off in December. Yu tightened his belt: No more movies or eating out. He put off buying a computer.

“I pay rent out of my savings,” Yu said.

The downturn is squeezing urban workers and entrepreneurs the ruling Communist Party is counting on to help transform China from a low-wage factory into a prosperous consumer market.

Headline economic numbers still look healthy. Growth in 2019 is forecast at more than 6 percent, down only slightly from about 6.5 percent last year. But it is propped up by higher government spending, which masks sharp declines in other areas. Those are spooking the public and discouraging spending, which could make the downturn worse.

A tariff war with Washington over Beijing’s technology ambitions is adding to anxiety over job losses and tumbling sales of cars, real estate and consumer goods.

“I am worried about my job security and have cut spending on everything including clothes, vacations and changing smartphones,” said He Siying, who works for an investment consulting firm in Beijing.

He, 32, was rattled when friends were laid off. One found a new job but the employer wanted her to work six days a week.

“I really dare not spend much,” said He, who has a 1-year-old son.

That anxiety is hitting China’s trading partners and global companies that increasingly count on Chinese consumers.

Apple Inc., General Motors Co., jeweler Tiffany & Co. and others say sales are down. Auto purchases

shrank in 2018 for the first time in three decades. Japan and South Korea report lower exports of components for smartphones and other electronics sold in China.

The decline in economic growth that peaked above 14 percent in 2007 is partly intentional. Regulators clamped down on lending in late 2017 to cool a debt boom. But the downturn was sharper than expected.

The private sector has been hit hard.

“Many people have been laid off.

People are having a hard time finding a new job and are panicking,” said Summer Li, a 28-year-old product manager for an electronics company.

Yu, the Hangzhou accountant, said he lost his 100,000-yuan-a-year ($14,000-a-year) job after demand for auditing services fell by onethird. Clients put off plans for stock market listings after profits sank below the level required by regulators.

“It happened due to the bad economic situation,” he said.

The ruling party promised in 2013 to support entrepreneurs who create China’s new jobs and wealth.

But reform advocates complain President Xi Jinping’s government has instead focused on expanding state-

owned companies that dominate oil, banking and other industries.

Jolted by the deepening slump, Xi and other leaders have pledged to help private business by cutting taxes and regulation.

Premier Li Keqiang, the top economic official, met with bankers in December and told them to make 30 percent of new loans to private business, state media reported. The central bank announced a 100 billion yuan ($14 billion) loan fund on December 19 for small companies.

Exports to the United States held up through late 2018 despite President Donald J. Trump’s tariff hikes. But sales shrank 3.5 percent in December compared with a year earlier as those penalties started to hurt demand.

Jittery companies and consumers already were putting off investments and big purchases.

“Consumer confidence is weaker and uncertainty has increased. The US-China trade war is feeding into that,” said Rajiv Biswas, chief AsiaPacific economist for IHS Markit.

“That is obviously a risk to the growth outlook for 2019.”

The slowdown is adding to pressure from wrenching changes in jobs and industry that already were

under way.

The ruling party has wiped out millions of steel and coal mining jobs in a marathon campaign to shrink those bloated state-owned industries.

Since 2017, Beijing, Shanghai and other big cities have forced out migrant workers who lack official permission to live there. Local leaders say they want to reduce crowding, but restaurants, retailers and other companies depend on migrants as employees and increasingly as customers.

The sales manager at a Beijing dealership for one of China’s biggest automakers said purchases have fallen by half. He blamed the departure of migrants who buy lower-priced models starting at 50,000 yuan ($7,000).

“Many such customers returned to their hometowns because there wasn’t much work for them,” said the manager, who asked that he and his employer not be identified by name.

“Sales of high-end cars also plunged because the buyers own businesses serving migrant workers.”

Overall, disposable consumer income rose by a relatively healthy 5.7 percent in the first three quarters of 2018, but that was down from 2017’s

Malaysia registers record direct-tax revenues

M

ALAYSIA’S intake of direct taxes rose to a record last year, easing pressure on a budget deficit that’s expected to mark a five-year high.

The government boosted its direct-tax revenue by 11.1 percent in 2018 from the prior year, bringing the total haul to 137 billion ringgit ($33 billion), according to a release on Sunday from the Ministry of Finance. That beat the previous re-

cord of 134 billion ringgit in 2014.

The release marks the first year of revenue records under the Pakatan Harapan administration that came to power last May. The scrapping of the goods and services tax, which was later replaced by a less sweeping levy, had raised questions about whether the government would be able to keep to its fiscal consolidation agenda. The country expects to narrow the budget deficit

to 3.4 percent of GDP this year, from an estimated 3.7 percent in 2018 that was the widest in five years.

The finance ministry said the revenue boost was due to higher collection from companies to individuals, as well as stamp duties and oil receipts, according to the statement. Direct tax earnings from cooperatives saw the biggest increase at 129 percent compared with the previous year.

The record revenue is a sign that “economic growth was encouraging in 2018,” and that the new administration’s tax strategies were working, the ministry said in the release. Malaysia’s economy likely slowed last year to around 4.7 percent after a best-inthree-years 5.9 percent in 2017, according to the median estimate of economists in the Bloomberg survey. Bloomberg News

Mexican pipeline explosion kills 73, injures 74

T

LAHUELILPAN, Mexico— Gerardo Perez returned on Saturday to the scorched field in central Mexico where he’d seen an illegal pipeline tap burst into flames to see if he could recognize missing friends. He couldn’t. Only a handful of the remains still had skin.

Dozens were burned to the bone or to ash when the gusher of gasoline exploded, killing at least 73 people.

Perez said he and his son bypassed soldiers and ignored warnings to stay clear of the geyser on Friday evening in the town of Tlahuelilpan in Hidalgo state, about 62 miles (100 kilometers) north of Mexico City.

“We’re stubborn,” he said. But as Perez neared the spurting fuel, he was overcome with foreboding. He recalls telling his son: “Let’s go...this thing is going to explode.”

And it did, with the fireball engulfing locals collecting the spilling gasoline in buckets, jugs and garbage cans. Video footage showed flames shooting high into the night sky, and screaming people running from the explosion, some themselves burning and waving their arms. Perez and his son made it out.

By Saturday evening the death toll had risen to 73, according to Hidalgo Gov. Omar Fayad. Officials said at least another 74 were injured and dozens more were missing. Fifty-four bodies have yet to be identified.

Forensic experts were separating and counting charred heaps of corpses while anguished relatives of those presumed dead gathered around the scene of carnage.

Just a few feet from where the pipeline passed through an alfalfa field, the dead seem to have fallen in heaps, perhaps as they stumbled over each other or tried to help one another as the geyser of gasoline turned to flames.

Several of the deceased lay on their backs, their arms stretched out in agony. Some seemed to have cov-

STAFF of Pemex, Petroleos Mexicanos, works the area of an oil pipeline explosion in Tlahuelilpan, Hidalgo state, Mexico on Saturday, January 19, 2019. A massive fireball that engulfed people scooping up fuel spilling from a pipeline ruptured by thieves in central Mexico killed several people and badly burned others. AP PHOTO/CLAUDIO CRUZ

ered their chests in a last attempt to protect themselves from the blast.

A few corpses seemed to embrace each other in death. Lost shoes were scattered around a space the size of a soccer field, as were half-melted plastic jugs the victims carried to gather spilling fuel. Closer to the explosion, forensic workers marked mounds of ash with numbers.

On Friday, hundreds of people had gathered in an almost festive atmosphere in a field where a duct had been perforated by fuel thieves and gasoline spewed 20 feet into the air.

State oil company Petroleos Mexicanos, or Pemex, said the pipeline, which supplies much of central Mexico with fuel, had just reopened after being shut since December 23 and that it had been breached 10 times over three months.

The tragedy came just three weeks after President Andres Manuel Lopez Obrador launched an offensive against fuel theft gangs that have

drilled dangerous, illegal taps into pipelines an astounding 12,581 times in the first 10 months of 2018, an average of about 42 per day. The crackdown has led to widespread fuel shortages at gas stations throughout the country as Pemex deviates distribution, both licit and illicit.

Lopez Obrador vowed on Saturday to continue the fight against a practice that steals about $3 billion per year in fuel.

“We are going to eradicate that which not only causes material damages, it is not only what the nation loses by this illegal trade, this black market of fuel, but the risk, the danger, the loss of human lives,” he said.

He said the attorney general’s office will investigate whether the explosion was intentional—caused by an individual or group—or whether the fireball occurred due to the inherent risk of clandestine fuel extraction.

He called on townspeople to give testimony not only about Friday’s events

in Hidalgo, but about the entire blackmarket chain of fuel theft.

“I believe in the people, I trust in the people, and I know that with these painful, regrettable lessons, the people will also distance themselves from these practices,” he said.

Lopez Obrador faces an uphill fight against a practice that locals say is deeply rooted in the poor rural areas where pipelines pass, covered by only a foot or two of dirt. Specialized fuel thieves who tap the lines usually cart their bounty off in trucks. But in recent days, as the government cracks down on fuel theft rings, the gangs have punctured pipelines and invited locals to help themselves.

Tlahuelilpan, population 20,000, is just 8 miles (13 kilometers) from Pemex’s Tula refinery. Pemex Chief Executive Octavio Romero said an estimated 10,000 barrels of premium gasoline were rushing through the pipeline with 20 kilograms of pressure when it was ruptured. AP

6.6 percent. Retail sales growth fell to a lower-than-expected 8.6 percent from a year earlier in November, its weakest rate in five months.

Construction, the industry that powered China’s boom in past decades, also is struggling.

Some cash-strapped developers in China’s northwest have resorted to paying contractors by giving them apartments, according to Anne Stevenson-Yang of J Capital Research, a financial research firm.

The contractors hope to sell later, but some developments are threequarters vacant, said StevensonYang.

The owner of a Cantonese restaurant in southwestern Beijing said she wants to give up and return to her hometown near Shanghai but can’t find a buyer for the business.

“I am making a profit but can’t earn a lot from it,” said the owner, who would give only her surname, Yue. Economists expect the downturn to bottom out this year as government stimulus gains traction.

But cautious spenders like Paige Fu, an assistant to the general manager of a company in the film industry, are wary.

“I worry the economy will keep sliding,” Fu said. AP

Vietnam makes pitch as investor safe haven in US-China trade war

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RED-HOT economy, business-friendly policies and a Communist party led by free-traders: that’s the elevator pitch Vietnamese Prime Minister Nguyen Xuan Phuc is delivering to global investors amid the USChina trade war.

“We are ready to grab the opportunity,” Phuc said in an interview with Bloomberg TV’s Haslinda Amin, a few days before departing this week to the World Economic Forum in Davos, Switzerland.

Vietnam is quietly positioning itself as a safe haven for manufacturers wary of getting caught in the crossfire of the tariff war between the US and China. With a raft of free-trade agreements, relatively cheap labor and close proximity to China, Phuc has a good story to tell global executives he’ll meet in Davos.

“We are trying to increase exports in both quantity and quality of our products, especially in which we have advantages, such as seafood, commodities, footwear and electronics,” Phuc said. “We aim to become an export economy that can grow fast and provide more jobs with higher income for our people.”

Nonetheless, the Southeast Asian nation is yet to see a flood of companies moving in from China, he said. And the economy has some serious challenges to overcome: inadequate infrastructure and lack of skilled workers make it difficult to attract manufacturing beyond assembly-line work such as garment stitching.

Global economic conditions are also worsening. The US-China trade war and more subdued world growth is weighing on export demand, a threat to an economy like Vietnam where trade accounts for about twice the nation’s gross domestic product—more than any country in Asia apart from Singapore. About a quarter of Vietnam’s

total trade is with China.

Vietnam’s economy seems to be sheltered for now. Growth quickened to 7.1 percent in 2018, among the fastest in the world.

Phuc said he is confident growth will reach the higher end of the government’s forecast range of 6.6 percent to 6.8 percent this year. He also vowed to keep the Vietnamese dong stable in 2019.

“We see growth momentum in different areas and have good foundations to achieve our goals,” Phuc said.

Vietnam, which has completed about 16 free-trade agreements, began tethering itself to global trade after introducing marketoriented “doi moi” reforms in the 1980s. Exports surged to a record $244 billion last year, with US customers accounting for about $48 billion of that—more than double compared with five years ago.

Samsung boom

SEVER AL large manufacturers already operate in Vietnam, the biggest of which is Samsung Electronics Co., which accounted for about a fifth of the country’s exports last year.

Phuc, concerned about antitrade sentiments from the Trump administration, is vowing the country will step up imports from the US, from Boeing Co. aircraft to products from oil companies.

Vietnam faces a possible $3-billion trade deficit in 2019 amid growing global protectionism, VnExpress news web site reported on Sunday, citing Deputy Minister of Industry and Trade Hoang Quoc Vuong. Volatile trade policies in the US and European Union could hurt Vietnam’s exports this year, Vuong was cited as saying.

The Southeast Asian country ended 2018 with a $6.8-billion trade surplus, according to the General Department of Vietnam Customs. Bloomberg News

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Experts say world needs a new diet

Less beef, more beans—for planet, health

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EW YORK—A hamburger a week, but no more—that’s about as much red meat people should eat to do what’s best for their health and the planet, according to a report seeking to overhaul the world’s diet.

Eggs should be limited to fewer than about four a week, the report says. Dairy foods should be about a serving a day, or less.

The report from a panel of nutrition, agriculture and environmental experts recommends a plant-based diet, based on previously published studies that have linked red meat to increased risk of health problems.

It also comes amid recent studies of how eating habits affect the environment.

Producing red meat takes up land and feed to raise cattle, which also emit the greenhouse-gas methane.

John Ioannidis, chairman of disease prevention at Stanford University, said he welcomed the growing attention to how diets affect the environment, but that the report’s recommendations do not reflect the level of scientific uncertainties around nutrition and health.

“The evidence is not as strong as it seems to be,” Ioannidis said.

The report was organized by EAT, a Stockholm-based nonprofit seeking to improve the food system, and published this past week by the medical

journal Lancet.

The panel of experts who wrote it says a “Great Food Transformation” is urgently needed by 2050, and that the optimal diet they outline is flexible enough to accommodate food cultures around the world.

Overall, the diet encourages whole grains, beans, fruits and most vegetables, and says to limit added sugars, refined grains, such as white rice, and starches like potatoes and cassava.

It says red-meat consumption on average needs to be slashed by half globally, though the necessary changes vary by region, and reductions would need to be more dramatic in richer countries like the United States.

Convincing people to limit meat, cheese and eggs won’t be easy, however, particularly in places where those foods are a notable part of culture.

In Sao Paulo, Brazil, systems analyst Cleberson Bernardes said as he was leaving a barbecue restaurant that limiting himself to just one serving of red meat a week would be “ridiculous.”

In Berlin, Germany, craftsman

A photo of plant-based burger made from wheat protein, coconut oil, potato protein and other ingredients in Bellevue, Nebraska, taken on January 11 AP/Nati Harnik

Erik Langguth said there are better ways to reduce greenhouse-gas emissions, and dismissed the suggestion that the world needs to cut back on meat.

“If it hasn’t got meat, it’s not a proper meal,” said Langguth, who is from a region known for its bratwurst sausages.

Before even factoring in the environmental implications, the report sought to sketch out what the healthiest diet for people would look like, said Walter Willett, one of its authors and a nutrition researcher at Harvard University.

While eggs are no longer thought to increase risk of heart disease, Willett said the report recommends limiting them because studies indicate a breakfast of whole grains, nuts and

fruit would be healthier.

He said everybody doesn’t need to become a vegan and that many are already limiting how much meat they eat.

“Think of it like lobster—something that I really like, but have a few times a year,” Willett said.

Advice to limit red meat is not new, and is tied to its saturated fat content, which is also found in cheese, milk, nuts and packaged foods with coconut and palm kernel oils.

The report notes most evidence on diet and health is from Europe and the United States.

In Asian countries, a large analysis found that eating poultry and red meat (mostly pork) was associated with improved lifespans. That might be in part because people might eat smaller amounts of meat in those countries, the report says.

Ioannidis of Stanford noted nutrition research is often based on observational links between diet and health, and that some past associations have not been validated.

Dietary cholesterol, for example, is no longer believed to be strongly linked to blood cholesterol.

The meat and dairy industries also dispute the report’s recommendations, saying their products deliver important nutrients and can be part of healthy diets.

Andrew Mente, a nutrition epidemiology researcher at McMaster University, urged caution before making widespread dietary recommendations, which he said could have unintended consequences.

Still, the EAT-Lancet report’s authors say the overall body of evidence strongly supports reducing red meat for optimal health and shifting toward plant-based diets. They note

Producing red meat takes up land and feed to raise cattle, which also emit the greenhouse-gas methane.”—Report

the recommendations are compatible with the US dietary guidelines, which say to limit saturated fat to 10 percent of calories.

While people in some poorer counties may benefit from getting more of the nutrients in meat and dairy products, the report says they shouldn’t follow the path of richer countries in how much of those foods they eat in coming years. Though estimates vary, a report by the United Nations said livestock is responsible for about 15 percent of the world’s gas emissions that warm the climate.

Robbie Andrew, a senior researcher at Center for International Climate Research in Norway, said farming practices that make animals grow faster and bigger may help limit emissions. But he said cows and other ruminant animals nevertheless produce a lot of methane, a powerful greenhouse gas. “It’s very difficult to get down these natural emissions that are part of their biology,” Andrew said.

The environmental benefits of giving up red meat depend on what people eat in its place. Chicken and pork produce far fewer emissions than beef, Andrew said, adding that plants in general have among the smallest carbon footprints.

Brent Loken, an author of the EATLancet report, said the report lays out the parameters of an optimal diet, but acknowledged the challenge in figuring out how to work with policymakers, food companies and others in tailoring and implementing it in different regions. AP

Climate change-induced salinity affecting soil in coastal Bangladesh

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A farmer holds dead grass at a farm in Wandandian, New South Wales, Australia. Bloomberg news

Climate, cyber risks top concerns in 2019

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he failure to tackle climate change and extreme weather events are the most threatening global risks this year, according to the World Economic Forum (WEF).

Inability to mitigate or adapt to climate change leapfrogged several places on the list as the second-most likely risk facing the world in 2019 after extreme weather events, the WEF said in a report published last week.

What’s more, worsening international relations mean the capacity to deal with those major problems has plummeted.

Devastating wildfires, tsunamis and other natural disasters killed

over 10,000 people in 2018. The catastrophes fueled above-average economic losses of $160 billion, according to insurer Munich Re AG. Those from wildfires, in particular, have risen as summers become hotter and drier, with the Camp Fire in California proving last year’s most expensive natural catastrophe.

In fourth and fifth place are massive incidents of data fraud or theft, and large-scale cyber attacks. That’s likely a reflection of widespread hacking by Russia and other cyber invaders, and increasing concerns over the ability of companies like Facebook Inc., to keep users’ personal information safe. Bloomberg News

HAKA, Bangladesh—As a country with a large coastline, the adverse impacts of saltwater intrusion are significant in Bangladesh. Salinity affects land and water in the coastal areas.

With the consequence of climate change, it gradually extends toward inland water and soil.

This scenario is very threatening to the primary production system, coastal biodiversity and human health, said researchers in Bangladesh.

The total amount of salinity-affected land in Bangladesh was 83.3 million hectares in 1973, which had been increased up to 102 million hectares in 2000 and the amount has risen to 105.6 million hectares in 2009 and continuing to increase, according to the country’s Soil Resources Development Institute (SRDI).

In the last 35 years, salinity increased around 26 percent in the country, spreading into noncoastal areas, as well.

“Salinity, which is rising in the coastal areas of Bagerhat, a southwestern district, is casting a huge impact on the environment. Production of various crops has declined due to excessive salinity in soil,” Advocate Mohiuddin Sheikh, president of Rampal-Mongla Embankment Implementation Committee, told United News of Bangladesh.

Once huge coconut and betel trees were there in the area, but has decreased dramatically, he said, adding, “The production of seasonal vegetables has also declined. Since the late 1980s, the effects of salinity in Rampal and Mongla areas have been hampering the local ecology.”

The locals, however, blame unplanned shrimp cultivation as the main cause of salinity, Mohiud-

din said, adding, “Due to decrease in sweet water and fall in saline water flow from the ocean, the salinity has increased in the region.”

Studies conducted by the World Bank, Institute of Water Modeling and World Fish, Bangladesh between 2012 and 2016 have quantified the effects of increasing salinity in river waters in coastal Bangladesh, including the areas in and around the Sundarbans—the world’s largest mangrove forest that straddles the coast of Bangladesh and India.

The broad categories of climate change effects that hit the coastal areas of Bangladesh are changes in temperature and rainfall pattern, sea-level rise, change in frequency and intensity of cyclones, storm surge, changes in river and soil salinity. More alarmingly, researchers from the International Centre for Diarrhoeal Disease Research Bangladesh (ICDDRB) have noticed an unexpectedly high rate of miscarriage in a small village of Chakaria, near Cox’s Bazaar, on the east coast of Bangladesh.

After investigation, scientists concluded that climate change might to be blamed.

Khulna region member of Bangladesh Poribesh Andolon (Bapa) MA Savur Rana, a resident of Singarbunia village in Rampal Upazila, said, “Farmers used to harvest Aman [a paddy season] paddy in vast croplands of their areas. But due to excess salinity, Aman paddy has become extinct.”

This has caused a huge impact on the lifestyle of the local people, he mentioned.

Between 2012 and 2017, the ICDDRB scientists registered 12,867 pregnancies in the area they have been monitoring for last 30 years. They followed the pregnant women through until the

end of the pregnancy and found that women in the coastal plains, living within 20 kilometers of the coastline and 7 meters above sea level, were 1.3 times more likely to miscarry than women who live inland.

This difference, the scientists believe, is the amount of salt in the water the women drink— the increase of which is caused by climate change.

Another recent study conducted by the World Bank indicates that climate change will cause significant changes in river salinity in the southwest coastal region during the dry season (October to May) by 2050, will likely lead to shortages of drinking and irrigation water and cause changes in aquatic ecosystems.

Changes in river salinity and the availability of freshwater will affect the productivity of fisheries. It will adversely affect the wild habitats of freshwater fish and giant prawn.

In addition, the salinity increase may induce a shift in the Sundarbans mangrove forest from Sundari (the single most dominant and important species, with the highest market value) to Gewa and Guran.

Estimates from the research indicate that Bagerhat, Barguna, Barisal, Bhola, Khulna, Jhalakati, Pirojpur and Satkhira districts will be affected most adversely. The study also identifies soil salinization in coastal Bangladesh as a major risk from climate change.

In the coming decades, soil salinity will significantly increase in many areas of Barisal, Chittogram and Khulna districts. It projects a median increase of 26 percent in salinity by 2050, with increases over 55 percent in the most affected areas.

Due to the rise in soil salinity, Chittagong and Khulna districts are likely to witness the highest within-district additional migration, estimated between 15,000 and 30,000 migrants per year, said another study, titled “Coastal Climate Change, Soil Salinity and Human Migration in Bangladesh,” jointly conducted in 2018 by International Food Policy Research Institute and the Ohio State University.

“These two districts also contain the secondand third-largest cities in the country. Districts without large cities like Bagerhat, Bhola and Feni will generally expect smaller within-district flows, between 5,000 and 15,000, but larger outof-district flows, particularly to districts with large cities,” said Ohio State University’s Joyce Chen, the coauthor of the study.

Meanwhile, after two weeks of bruising negotiations, officials from almost 200 countries on December 15 agreed on universal, transparent rules that will govern efforts to cut emissions and curb global warming.

The deal agreed upon at United Nations climate talks in Poland enables countries to put into action the principles in the 2015 Paris climate accord.

But to the frustration of environmental activists and some countries who were urging more ambitious climate goals, negotiators delayed decisions on two key issues until next year in an effort to get a deal on them.

The talks in Poland took place against a backdrop of growing concern among scientists that global warming on Earth is proceeding faster than governments are responding to it. United News of Bangladesh and Inter Press Service

Voters want candidates who are against single-use plastic, survey reveals

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even out of 10 Filipinos will support candidates who will ban establishments from using single-use plastic across the country, according to a Social Weather Stations survey undertaken on the third quarter of 2018.

The nationwide survey also showed that eight out of 10 Filipinos will vote for a candidate who will advocate for the strict implementation of solid-waste management laws.

The survey also revealed that eight of 10 Filipinos support prohibiting groceries, public markets, fast-food chains and other similar establishments from using or providing nonbiodegradable plastic bags, with a net

approval rating of “extremely strong.”

“The voters have spoken, and they want candidates who will address the issue of plastic pollution with true and lasting solutions. We are hearing a lot now on how politicians want to solve this crisis, but sadly, these are Band-Aid solutions that are mostly done for show.

Our voters are looking at the midterm elections to choose candidates who will present a vision and see that vision translate into action,” said Abigail Aguilar, campaigner for Greenpeace Southeast Asia-Philippines.

The survey revealed a strong clamor for regulating or banning single-use plastics and the proper and full implementation of Republic Act 9003, or the

ecological solid waste management law, which provides for solid-waste reduction through proper waste segregation, recycling, composting and other ecological methods before disposal in the appropriate facilities.

Despite being hailed as one of the world’s most progressive laws on waste management, the implementation of the 18-year-old law has suffered from lack of political will, alleged corruption by local government officials and contradicting policies from government agencies involved in waste management.

The survey also revealed that people are starting to look at the role of corporations perpetuating the plastic-

pollution crisis. While seven out of 10 Filipinos still point to individuals as being responsible for reducing plastic pollution in the country, three out of 10 now believe that companies that produce plastics should have greater responsibility.

“These findings show that plastic pollution has become an important issue for Filipinos. They expect their elected officials and those aspiring for public office to come up with genuine solutions to address the problem,” said Von Hernandez, coordinator of the global #breakfreefromplastic movement. He added: “They are also waking up to the fact that while individual responsibility is important,

the companies who are pushing the continued production of single-use and unrecyclable packaging for their products bear a greater responsibility for this crisis. This is a trend that we are seeing worldwide.”

The Philippines, along with other Southeast Asian countries, have been reeling from the effects of plastic pollution brought about by the influx of products wrapped in sachets or smaller plastic packaging aimed at reaching lower income brackets in developing countries.

However, the burden of managing the overabundance of plastic wastes often falls on the shoulders of the communities and governments, while

corporations remains unbridled and unchecked. This crisis is also poised to increase by nearly 40 percent over the next decade.

“Everyone has the responsibility to solve this crisis, but we have to demand more accountability from those with bigger stakes in this issue. While our government is doing its part, it needs to go beyond the statements and act on the issue with more political will.

Corporations producing plastic should also be more responsible and show their willingness to solve this plastic mess by reducing the amount of plastic they put out into the world. We need to stop dilly-dallying if we are truly committed to stopping this madness,” Aguilar said.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, January 21, 2019

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Efforts to conserve ‘pawikan’ in Davao intensifies

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By Manuel T. Cayon | Mindanao Bureau Chief @awimailbox

AVAO CITY—Conservation efforts for pawikan (marine turtle) continue to intensify as the city government, the environment department and Aboitiz Group renewed their commitments for the preservation and protection of the turtle, particularly the critically endangered hawksbill turtle in Davao City.

Davao City Mayor Sara DuterteCarpio, the Aboitiz Group, through its social-development arm Aboitiz Foundation and AboitizPower business unit Davao Light and Power Co., and the Department of Environment and Natural Resources (DENR) signed a memorandum of agreement (MOA) last week to establish the Pawikan Center inside the Aboitiz-owned Cleanergy Park in Punta Dumalag, part of which was declared a protected area.

Officials from the three agencies released that day an Oliver Ridley species of sea turtle back to sea. It was rescued in 2017 and turned over for caretaking at the Crocodile Park. The released turtle was named “Crocy,” to recognize the care of the Crocodile Park on the turtle.

Duterte-Carpio, a daughter of President Duterte, said she would like the rescue center for sea turtle to take shape soon to follow through the consistency of the Aboitiz-owned conservation coastal park as a nesting ground among the endangered sea turtles.

The center has a temporary shelter, clinic, laboratory, observation deck, boardwalks, and other facilities for the rescue, rehabilitation, conservation, protection and care of marine turtles in Punta Dumalag. This supports the multisectoral effort of “pursuing sustainable development

within the context of a balanced ecology.”

The center would serve as the rescue and hatchery center—the first for the city to engage in the protection of the nesting ground of sea turtles, one of the most endangered marine species.

Duter te- Car pio sa id she would assign City Hall personnel to help the center as she also disclosed she would coordinate with the DENR to provide the technical support to ensure that “what we do here is correct and appropriate.”

She would let the Aboitiz group develop the center though, saying “it owned the place.”

“Davao is truly blessed to be a nesting site of marine turtles, a keystone specie in maintaining the balance in our ecosystem. It is clear that the government and the private sector must work together to protect these endangered animals before it becomes too late,” Duterte-Carpio said.

“We commend the Aboitiz Group, Davao Light and Power Co., and the Aboitiz Cleanergy Park,” she added.

“We look forward to the creation of the Pawikan Rescue Center in Punta Dumalag, which will aim to protect the plant and animal life thriving in the marine eco-park,” Duterte-Carpio said.

Rut h Tawa nt awa n, DENR

Government and industry leaders lead efforts to conserve the pawikan by signing a memorandum of agreement to establish a Pawikan Center.

Jaime Jose Y. Aboitiz (center, kneeling) AboitizPower executive vice president and chief operating officer (COO) for Distribution Group, leads the recent release of a hawksbill turtle (pawikan) on the grounds of the Aboitiz Cleanergy Park in Punta Dumalag, Davao City, where a Pawikan Center is set to rise. He is joined by DENR Assistant Secretary Ruth Tawantawan (left, kneeling) and Davao Light COO Rodger Velasco (right, kneeling).

Aboitiz Equity Ventures Adviser for Mindanao Art Milan (Second from left, standing) and Davao Light Community Relations Manager Fermin Edillon (second from right, standing) look on.

assistant secretary for Eastern Mindanao, said: “Thank you to Aboitiz. The DENR is very blessed to have you. Truly, DENR Sec. Roy Cimato will be grateful.”

Jaime Jose Y. Aboitiz, AboitizPower executive vice president and COO for Distribution Group, said: “Today, after more than 13,000 mangrove seedlings planted and more than 3,000 [pawikan] hatchlings released, we renew our commitment.” Aboitiz led the con-

Davao is truly blessed to be a nesting site of marine turtles, a keystone specie in maintaining the balance in our ecosystem. It is clear that the government and the private sector must work together to protect these endangered animals before it becomes too late.”—Duterte-Carpio

New California pen may allow sale of horses for slaughter

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ENO, Nevada—The US Forest Service has built a new corral for wild horses in Northern California, which could allow it to bypass federal restrictions and sell the animals for slaughter.

The agency acknowledged in court filings in a potentially precedent-setting legal battle that it built the pen for mustangs gathered in the fall on national forest land along the California-Nevada border because of restrictions on such sales at other federal holding facilities.

The agency denies claims by horse advocates it has made up its mind to sell the more than 250 horses for slaughter.

But it also says it may have no choice because of the high cost of housing the animals and continued ecological impacts it claims overpopulated herds are having on federal rangeland.

“While slaughtering wild horses does not present a pleasant picture, the reality of this dire situation is not pleasant,” Justice Department lawyers representing the agency wrote in its most recent filing last month. “The Forest Service is taking a step to reduce what is universally recognized as a natural catastrophe.”

Horse advocates have been suing the government for two decades over mustang roundups that private ranchers say are necessary to curb growing

herds that reduce the forage on federal lands they lease for cattle and sheep grazing across the US West. The region holds roughly 90,000 wild horses.

A sharp reduction in demand in recent years for a federal program that offers the horses for adoption to the public has left little room in existing corrals. Horse advocates argue the mustangs are federally protected and that taxpayers subsidize the livestock grazing on US land.

A hearing is scheduled on January 31 in federal court in San Francisco on a motion filed by the Animal Legal Defense Fund and American Wild Horse Campaign seeking an injunction to block the sale of the horses captured in the Modoc National Forest in October and November for possible slaughter. The new pen is in the forest, about 170 miles (273 kilometers) northwest of Reno.

Forest Service Chief Vicki Christiansen announced late last year she would postpone any sales for slaughter until at least on February 18.

The protection groups say it would be the first time in nearly a half-century the government has sold mustangs “without limitation,” or for any purpose, including slaughter.

Horse slaughterhouses are prohibited in the US but legal in many other countries, including

glomerate’s delegation to the MOA signing.

“All over the country, the Aboitiz Group’s response to the DENR’s lead in environmental preservation demonstrates our sustainability mindset. Through the projects we implement together, we ensure that we head full speed toward our promise of advancing business and communities,” he added.

Besides protecting the nesting areas at the park, the Pawikan

Canada, Mexico and parts of Europe where horse meat is considered a delicacy.

The Wild Free Roaming Horse and Burros Act that President Nixon signed into law in 1971 prohibits the inhumane destruction of wild horses. Congress approved an appropriations amendment in 2004 that allows the Forest Service, under its parent Agriculture Department, to sell horses without limitations if they’re over age 10 and have been offered for adoption three times unsuccessfully.

But in most years since then, Congress has specifically prohibited the Bureau of Land Management (BLM), under the Interior Department, from using any appropriations for such purposes. President Donald J. Trump proposed allowing such sales in his 2017 budget, but Congress refused to go along.

The Forest Service normally holds the horses it gathers at pens belonging to the BLM, which manages 997,000 square kilometers of public lands in the West.

With few exceptions, lawsuits have targeted the bureau because it captures the vast majority of the horses.

BLM lands hold an estimated 83,000 wild horses, while national forests managed by the Forest Service hold about 8,000. AP

Center aims to identify, document and address threats to marine turtles and their habitats in Punta Dumalag; promote research, monitoring and information exchange; enhance public awareness on the conservation initiatives in the area; and fortify the collaboration between the public and private sectors for the long-term recovery of pawikan population in the area.

Mayor Duterte-Carpio said the rescue center would elevate the conservation effort of sea turtles, of which four of the seven known species are found in the Davao Gulf.

The Punta Dumalag area is a land projection into the Davao Gulf of which 37 hectares were declared as marine protected area. The Punta Dumalag waters covers 520 kilometers of coastline of four provinces, five cities and 18 municipalities.

A big portion of Punta Dumalag has been occupied by informal settlers. However, Duterte said their local leaders have been

designated to ensure that residents would participate in the regular conservation work in the locality, such as a weekly coastal cleanup and observance of proper waste disposal. Their involvement would help support the protection of Punta Dumalag.

T he Aboitiz group said its 8-hectare Cleanergy Park inside the protected Punta Dumalag has noted its consistency as a nesting ground of sea turtles even before it was established in 2015. To date, the park has seen 4,370 eggs laid and hatched and was the place where 3,482 hatchlings were rescued and released.

Aboitiz said its conservation effort at the Cleanergy Park was part of the conglomerate’s bigger environmental participation, including in the government’s National Greening Program and in the recent environmental rehabilitation work in Boracay.

He said the Aboitiz group was poised to plant as many as 9 million trees in Boracay and would make it as another model of restoring the environment in the world-renown beach resort.

The DENR will provide technical assistance, facilitate information and education campaign on marine turtle conservation and establish Punta Dumalag as critical habitat for marine turtles, among others.

Meanwhile, the Davao City government, through local ordinance, w il l strengthen the enforcement of existing laws on conservation efforts, assist the DENR in the establishment of Punta Dumalag as a critical habitat for the marine turtles, provide manpower support for the project, and furnish the DENR with monitoring reports.

In 2007 the Sangguniang Panglungsod of Davao City declared the shoreline extending 300 meters seaward in Punta Dumalag as a Marine Protected Area. In 2015 Aboitiz inaugurated the Aboitiz Cleanergy Park to serve as an example of an urban-based habitat conservation initiative in the area.

Smart employees, Ericsson partner in mangrove planting

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Smart employees plant mangroves at a Pampanga site.

mployee-volunteers from Smart Communications recently joined Ericsson in mangrove planting at the SasmuanBangkungMapalad Critical Habitat and Ecotourism Area in Pampanga. The SBMCHEA is a beneficiary of the Connected Mangroves project, a joint initiative by Ericsson and Smart.

The project aims to help in environmental conservation by using IoT (Internet of things) solutions.

These solutions include attaching onto mangroves electronic sensors, which can detect and record information vital to the tree formation, such as temperature, water salinity and other factors that may be hazardous to its condition.

The information is then uploaded to an online dashboard, which may be accessed by authorities and stakeholders. The activity is part of Smart’s programs toward environmental protection and employee engagement.

Oceana lauds B.F.A.R. on the issuance of manual of procedures on fishery law enforcement

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ceana Philippines welcomed the issuance of Fishery Law Enforcement Manual of Operation by the Bureau of Fisheries and Aquatic Resources (BFAR). The Flemop sets the standard operating procedures for the conduct of preventive and corrective fishery enforcement operations.

“The value of the Flemop is that it addresses the overlapping functions of multiple enforcement agencies at the national scale,” said Atty. Gloria Estenzo Ramos, vice president of Oceana in the Philippines.

The Flemop was launched by BFAR in December 2018, coinciding with the first command conference of the Philippine Committee on Illegal, Unreported and Unregulated Fishing Ramos explained that regions like Central Visayas are impelled to form voluntary alliances, such as the Coastal Law Enforcement Alliance in Region 7 to address the overlapping functions through an interagency Memorandum of Agreement. With the Flemo other regions are now guided. Republic Act 10654, or the amended Fisheries Code of the Philippines, authorizes the

BFAR, the Philippine National Police, the PNP Maritime Group, the Philippine Coast Guard and the Philippine Navy to enforce fishery laws rules and regulations, while the municipal and city local government units have been given expressed mandate by RA 7160, or the Local Government Code, to enforce fishery laws in their respective municipal waters.

“Apart from setting the standard, the Flemop provides detailed instructions for enforcers in the conduct of both sea-based and land-based operations,” Ramos said.

“Enforcing fishery laws require technical, tac tic al and procedural approaches.

Unfortunately, not all agencies have these competencies that is why it is imperative that multiple agencies work together. The Flemop is the document that will bind these agencies under a common framework,” she explained.

“Oceana Philippines congratulates the BFAR for this important milestone and calls on them to disseminate the Flemop to a wide audience as much as possible and implement fully the amended Fisheries Code of the Philippines. For our

part, we will do our share to help the government disseminate and explain the Flemop especially to the field enforcement community, the local government units and the prosecution service,” she added.

Ramos noted that this year, Oceana Philippines would start a nationwide anti-illegal fishing campaign focused on the full implementation of the ban on commercial fishing vessels in municipal waters.

“It will be a robust campaign against the intrusion of commercial fishing vessels in municipal waters,” Oceana is the largest international advocacy organization dedicated solely to ocean conservation.

It is rebuilding abundant and biodiverse oceans by winning science-based policies in countries that control one third of the world’s wild fish catch.

With over 100 victories that stop overfishing, habitat destruction, pollution and killing of threatened species like turtles and sharks, Oceana’s campaigns are delivering results. A restored ocean means that 1 billion people can enjoy a healthy seafood meal.

B6 Monday, January 21, 2019

ROLEX AND DAYTONA: A LONG-TERM PARTNERSHIP

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HEN the green flag is dropped at 2:35 p.m. last January 26, the 57th anniversary of the Rolex 24 at Daytona got underway, signaling the start of Rolex’s 2019 motorsport season. The Swiss watchmaker’s support for the twice-around-the-clock challenge in Florida dates back in 1992, when the brand became the title sponsor.

Scott Pruett, a five-time winner and friend of Rolex, has been named the grand marshal for this year’s race and will give the famous command “Drivers, start your engines”.

“It is a great honor to be [the] grand marshal [in] this legendary race,” said Pruett, who retired from racing after the 2018 edition. “...The race demands absolute determination and durability, which is why the partnership with Rolex resonates with all those involved.”

The Rolex 24 At Daytona is North America’s most pre-eminent endurance race; and launches the 2019 International Motor Spor ts A ssociation (Imsa) WeatherTech sports-car championship contested over 12 rounds across the continent. Revised Imsa regulations mean the field at Daytona will again consist of four classes: Daytona prototype international, Le Mans prototype 2, GT Le Mans and GT Daytona.

Fernando A lonso, the recently retired two-time FI A Formula 1 Drivers’ world champion, will drive the No. 10 Konica Minolta Cadillac DPi-VR, aiming for his maiden win at Daytona. The Spaniard will face defending champion and three-time winner Christian Fittipaldi, who will retire from competitive driving after the race. Double-leg amputee and former Formula 1 driver Alex Zanardi will drive a modified BMW M8 GTE in his first outing at this celebrated race.

Staged in the depths of the northern winter, competitors race in darkness for 13 hours, and limited track lighting means they must rely heavily on their headlights. Renowned for its extremely steep banking, the 5.73-kilometer (3.56-mile) combined road course at the Daytona International Speedway presents a true test of dedicated and precise driving for all teams. Skilled traffic management and pace control, masterful pit strategy and smooth driver changeovers are crucial to success.

Teams could complete over 800 laps, a record set just 12 months prior, in last year’s running of the race.

The victorious drivers receive a Rolex Oyster perpetual cosmograph Daytona as a testament to their exceptional

accomplishment. Reflecting on what it means to be rewarded a Rolex in the victory lane.

“To be presented a watch engraved with the word ‘Winner’ after 24 hours of intense racing is a moment that lives [within] you forever. Your Rolex is a constant reminder of the perseverance and hard work that goes into succeeding at the highest level,” Pruett said.

Rolex’s connection to Daytona dates back to the early 20th century, when Daytona Beach attracted a wave of speed enthusiasts due to its long, flat and very firm straight of sand. Some 14 land-speed records were set there—five

by Sir Malcolm Campbell—including the fastest official time record of 444 km/h (276mph) in 1935 at the wheel of his mighty Bluebird, with a Rolex on his wrist.

In 1992 Rolex formalized this longstanding association with Daytona and the Daytona International Speedway, thus, becoming the official timepiece and title sponsor of the 24-hour epic, strengthening the link between the race and the Rolex Oyster perpetual cosmograph Daytona.

After 27 years, the brand is now so closely tied to the event that motorsport aficionados refer to it simply as “The Rolex”.

SUN LIFE TEAMS UP WITH RAQUEL PAWNSHOP TO OFFER AFFORDABLE INSURANCE In its bid to make life insurance more accessible to more Filipinos, Sun Life of Canada (Philippines) Inc. (Slocpi) has teamed up with Raquel Pawnshop, a financial-service institution offering various services, such as pawning, remittance, bills payment and money transfer. Under the tieup, qualified members of Raquel Pawnshop’s loyalty program will soon have access to affordable insurance from Sun Life. The two companies are, likewise, working together to advocate financial literacy; and recently held learning sessions and distributed piggy banks in select public schools in the cities of Lucena and Tayabas in Quezon. In photo are (from left) Slocpi President Alex Narciso, Sun Life Financial Philippines Chief Executive Officer and country head Benedict Sison, Raquel Pawnshop President and CEO Raquelita Rafa and Raquel Pawnshop Vice President for Operations Ronaldo Raquel.

AWARD FOR MANDALUYONG ANTIDRUG ABUSE COUNCIL

The city of Mandaluyong was given recognition by the Department of Interior and Local Government, the Philippine National Police and the Philippine Drug Enforcement Agency at the 2018 National Antidrug Abuse Council Performance Awards last December 28 at the Manila Hotel, for garnering high functionality points at the audit conduct and extensively complementing the national government’s anti-illegal drugs campaign. The award was presented to Mayor Abalos in the first Monday program of 2019 by the city’s barangay chairmen who have tirelessly helped to make the antidrugs program a success.

SITEL PHILIPPINES EXPANDS CONTACT CENTER PROGRAM FOR PERSONS WITH DISABILITIES

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ITEL Philippines further strengthens their corporate social responsibility through a new partnership with Unilab Foundation Inc. (UFI) and the Philippine Federation of the Deaf (PDFI).

“We’re very excited to broaden the scope of our skills training program,” shares Craig Reines, chief operating officer, Sitel Asia Pacific. “We take education very seriously and continue to look for ways to expand our development programs, and bring career opportunities to more Filipinos. Through Sitel Academy Plus we are educating and empowering marginalized sectors, like PwDs [persons with disabilities], by enhancing their skills and giving them a chance at a fulfilling career in the BPO industry.”

Sitel Academy Plus is an extension of the company’s highly successful skills-building and recruitment program Sitel Academy. Through this new partnership with UFI and PDFI, Sitel Academy Plus will be offered to the

hearing impaired and persons with mental disabilities.

Program participants will be given basic contact-center skills training, which will empower them to seek gainful employment in the BPO industry as agents, virtual assistants, software analysts and more.

“We are driven by our mission to promote an inclusive and diverse workplace not just for Sitel, but also the BPO industry,” Craig explains. “We have made significant headway in providing jobs for PwDs, and this latest partnership allows us to reach even more people, and give them the opportunity to work in a diverse and inclusive professional community.”

In photo are Jim Nemeño, project officer, UFI; Robert Recana, regional facilities manager, Sitel Group; Grant Javier, program manager, UFI; Reines; Jamie Blocker, senior director for leadership development, Sitel Group; and Christine Matriano, senior director for partner communications, Sitel Group.

NEW MARRIOTT BRAND SHERATON COMES WITH PROMISING HOTEL LUXURY

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ARRIOTT International continues to expand its portfolio in the Philippines with the opening of the new Sheraton Hotel in Manila. The new Sheraton Hotel is set to provide a warmly authentic welcome and become the point of connection for travelers to the dynamic Philippine capital. Sheraton Hotels has been a trusted and recognized brand globally, and this property is now the gathering place for travelers to connect for business or leisure. It is at the forefront of the world-class integrated complex Resorts World Manila; and is the first landmark seen upon arrival at

the Ninoy Aquino International Airport Terminal 3.

Sheraton Manila is on its initial phase, offering deluxe guestrooms and meeting spaces, including a ballroom for 570 people; and dining outlets, such as all-day dining and buffet restaurant S Kitchen and The Lounge bar. More exciting facilities will be launched this year, such as other room categories, like two-level lofts, suites, coworking space, spa, Korean specialty restaurant and a kids’ club. As an opening treat, Sheraton Manila cuts 50 percent off from its breakfast buffet at S Kitchen, which is now at P725 only. Everyone gets a good start indulging on a widespread of heavy breakfast highlighting the Filipino cuisine. This promo is valid until February 13 from 6:30 to 10:30 a.m., Monday to Sunday. For more information, visit sheratonmanila.com.

In photo are (from left) Brendan Mahoney, director of operations, Sheraton Manila; Bruce Winton, cluster general manager, Marriott Philippines; Anna Vergara, general manager, Sheraton Manila; Kingson Sian, president and chief executive officer of Travellers International Hotel Group Inc.; and Anshul Kaul, regional director of operations, Marriott Luxury Apec.

Sports PARTY BARTY AT AUSSIE OPEN! BusinessMirror

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| Monday, January 21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

and celebrated wildly when the first Australian woman in a decade reached the quarterfinals at Melbourne Park.

Rod Laver was there watching, among the tennis greats. Prime Minister Scott Morrison in his green Aussie cap was cheering from the side of the court. It was in vogue for Aussies to be watching. Anna Wintour, too.

It took four match points and two hours and 22

AFTER sending Maria Sharapova home, Ash Barty becomes the first Australian woman since Jelena Dokic to reach the last eight at the home Grand Slam tournament. AP

By John Pye

The Associated Press

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ELBOURNE, Australia—It was like a party at Rod Laver Arena. A partisan crowd backed Ash Barty, booed Maria Sharapova

minutes before Barty fended off 2008 champion Sharapova, 4-6, 6-1, 6-4, reaching the quarterfinals of a major for the first time. She’s the first Australian woman since Jelena Dokic to reach the last eight at the home Grand Slam tournament. No Aussie woman has won it in 41 years.

“It’s amazing that it’s ... happening in Australia,” Barty said, reflecting on her first goal for 2019. “I have given myself the opportunity and the chance to play in front of the best crowd in the world on one of the best courts in the world and in my home Slam. There is absolutely nothing better.”

She’ll next play twotime Wimbledon champion Petra Kvitova, who defeated 17-year-old American Amanda Anisimova, 6-2, 6-1, in 59 minutes to return to the Australian Open quarterfinals for the first time in seven years.

Another former No. 1 and former Australian titlist quickly followed Sharapova out when Danielle Collins upset three-time major winner Angelique Kerber, 6-0, 6-2.

Collins had never won a match at a Grand Slam before coming to Australia— now she’s won four straight and eliminated No. 14 Julia Goerges, No. 19 Caroline Garcia and No. 2 Kerber along the way. She’ll face either 2017 US Open champion Sloane Stephens or Anastasia Pavlyuchenkova in the quarterfinals.

Sharapova won the first set but was struggling with her serve, and finished with 10 double-faults in the match. After dropping the second set—midway through Barty’s ninegame winning streak—Sharapova took an extended break in the locker room and was booed

Serena consoles 18-year-old foe M

ELBOURNE, Australia—It was all a bit overwhelming for the latest opponent who could do nothing to slow Serena Williams at the Australian Open. So Dayana Yastremska, an 18-year-old from Ukraine, found herself wiping away tears as she walked to the net.

Williams knows what it’s like to be the one weeping after a loss. She put her right hand on Yastremska’s shoulder and consoled her by saying, “You’re so young. You did amazing. Don’t cry.” Then they embraced, and Williams patted Yastremska on the back.

“I could tell she was quite upset. I kind of liked that. It shows she wasn’t just there to play a good match—she was there to win. She wanted to win. That really broke my heart,”Williams said. “I think she’s a good talent. It’s good to see that attitude.”

Maybe she will be tested in the fourth round, because no one has come close to making her work too hard so far, including the 6-2, 6-1 victory on Saturday.

Next up, though, is a far more accomplished player, No. 1-ranked Simona Halep, who took control by reeling off six consecutive games in one stretch and advanced by beating Williams’s sister, Venus, 6-2, 6-3.

After two tough three-set tussles, Halep had a much easier time of things, making only 12 unforced errors while Venus had 33. Halep played with her left thigh taped, but moved around the court well.

“She played pretty flawless,” said Venus, who exits before the fourth round at a fifth consecutive Grand Slam tournament.

Looking ahead, Halep said: “It’s going to be a bigger challenge. I am ready to face it.”

She’s lost eight of her past nine matches against Serena.

Might Venus offer her sibling any tips?

“I don’t know if Serena needs my help or not,” Venus said. “If she does, I’ll be there.”

Not only has Serena won every set she played this week—and 20 in a row at Melbourne Park, dating to the

when she came back to court.

That’s a rarity for the fivetime Grand Slam winner in these parts.

A comeback was always on the cards, and Sharapova nearly delivered— recovering from 4-0 down in the deciding set, forcing Barty to serve it out, and saving three match points when she did.

Two seasons back from her break to pursue a career in cricket, Barty has become Australia’s best chance of producing a local champion since 1978. In her on-court interview, she saluted her former cricket team and said she’d watched on TV the previous day as they qualified for the national final.

“I needed to take that time away,” she said, reflecting on her time out playing cricket.

“I feel like I came back a better person on and off the court, a better tennis player.”

Her immediate concern, though, is getting past Kvitova, who beat her in the

start of her 2017 run to the title (she sat out last year’s tournament after having a baby)—but Williams has ceded a total of only nine games through three victories.

Unlike any of Serena’s foes until now, Halep has won a major title, last year’s French Open. She’s been to three other Grand Slam finals, including a year ago at the Australian Open.

That resume pales in comparison to Serena’s, of course.

Whose doesn’t?

She is bidding for an eighth trophy at the Australian Open and record-tying 24th Grand Slam title in all.

As for the prospect of playing the Williams sisters in back-to-back matches, Halep called it “the toughest draw I’ve ever had.”

“I just want to try to play my best tennis,” Halep said, “because I have nothing to lose.”

Other women’s fourth-rounders set up for Monday: Naomi Osaka, the woman who beat Serena in last year’s chaotic US Open final, against No. 13 Anastasija Sevastova; 2017 US Open runner-up Madison Keys against No. 6 Elina Svitolina; and two-time major champion Garbine Muguruza against 2016 US Open runner-up Karolina Pliskova, who beat No. 27 seed Camila Giorgi 6-4, 3-6, 6-2 on Saturday night.

Men’s matchups on Monday with a quarterfinal berth at stake will be: No. 1 Novak Djokovic against No. 15 Daniil Medvedev; No. 4 Alexander Zverev against 2016 Wimbledon finalist Milos Raonic; 2014 US Open finalist Kei Nishikori against No. 23 Pablo Carreno-Busta; and No. 11 Borna Coric against No. 28 Lucas Pouille, who eliminated 19-year-old Australian wildcard entry Alexei Popyrin, 7-6 (3), 6-3, 6-7 (10), 4-6, 6-3.

SERENA WILLIAMS consoles Dayana Yastremska after winning their third-round match over the weekend. AP

final of the Sydney International last week.

Kvitova wanted no part of another loss to Anisimova, who beat her last year at Indian Wells and was the youngest American since Jennifer Capriati in 1993 to make it this far at Melbourne Park.

And so she went on the attack early, breaking in the first game. Kvitova was the model of consistency that the two other seeded players previously vanquished by Anisimova—No. 24 Lesia Tsurenko and No. 11 Aryna Sabalenka—were not.

Kvitova had to miss the Australian Open in 2017 because she was still overcoming injuries to her left hand that she sustained in a home invasion the previous month at her place in the Czech Republic. She lost in the first round here last year.

She’s now on a nine-match winning streak, her four wins here come after a title run in Sydney, and is into the quarterfinals here for the first time since 2012.

“When I’m counting the years, it’s pretty long,” Kvitova said. “But, you know, sometimes the waiting time is worth for it. I’m not complaining at all.”

Kvitova broke Anisimova’s serve five times and never faced a break point. She got 86 percent of her first serves into play, and won all but five of the points when she did.

“She came out with a really solid game plan against me. That kind of threw me off—it was different from my other matches,” said Anisimova, who will go home with her first Grand Slam match wins to her credit, and a much higher profile. “I was hoping that I’d just win a first-round match, so getting this far means a lot to me.”

Frances Tiafoe celebrated his 21st birthday with a spot in his first major quarterfinal, beating No. 20-seeded Grigor Dmitrov, 7-5 7-6 (6), 6-7 (1), 7-5. The American took off his shirt, flexed his right bicep and waved to the crowd on Melbourne Arena.

After beating the likes of No. 5 Kevin Anderson and Dmitrov, the road ahead gets significantly tougher for Tiafoe. He next plays No. 2-seeded Rafael Nadal, the 17-time major winner who didn’t let Tomas Berdych on the scoreboard for 1 ½ sets before finishing off a 6-0, 6-1, 7-6 (4) fourthround win.

Nadal beat Australians in the first three rounds and then dominated a long-time rival, winning the first nine games before the 2010 Wimbledon finalist finally held serve and held up his left fist in mock celebration.

“When you’re back, you need a little bit of the luck in the beginning,” said Nadal, who didn’t play a competitive match between the last US Open and the season-opening major in Australia because of injuries. “I’m in the quarterfinals, let’s see what happens now.”

Serena complimented Yastremska in the locker room after their match.

“She said, like, ‘You’re young, you’re very good and you will be a good player in the future.’ It’s nice to hear those words from a legend,” said the 57th-ranked Yastremska, who eliminated 2011 US Open champion Sam Stosur in the first round and 23rd-seeded Carla Suarez Navarro in the second.

“If she thinks so,” Yastremska added about Williams, “then maybe that’s true.”

Williams grabbed a pair of service breaks and a 4-0 lead after less than 15 minutes and was well on her way to yet another easy-looking win.

Right from the start, Yastremska appeared a bit jittery, missing nine of 10 first serves and double-faulting three times while getting broken in each of her opening two service games. By the end of the first set, the teenager had 13 unforced errors, nine more than Serena.

It didn’t get much better in the second set, and Serena wound up with eight aces while facing zero break points, and a 20-13 ratio of winners to unforced errors.

Yastremska was born in 2000, the year after Serena won her initial major, and grew up cheering for someone she calls “a legend.” Yastremska recalls swinging her racket in the living room at home while watching on TV at age 8 as her favorite player competed.

Surely, everything felt a tad different up-close-andpersonal with the 37-year-old American in Rod Laver Arena.

What separates Williams from other top players?

“Everything. Small details. Her discipline. Her quality of the shots. How [committed] she is to every ball,” Yastremska said. “She [is] completely different. I don’t know how to describe that. It’s just there’s something special. What I’m trying to do is to go to the level that people are going to talk about me the same, that I have something special.” AP

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Monday, January 21, 2019

Mickelson maintains two-shot lead

L PHIL MICKELSON is having fun in the Desert Classic. AP

Wire-to-wire win in Abu Dhabi golf

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BU DHABI, United Arab Emirates—Shane Lowry made birdie on the last hole to finish off a wire-towire victory in the Abu Dhabi Championship.

If only it were that simple.

His three-shot lead to start the final round on Saturday was gone in three holes. When he walked off the 11th green with his fourth bogey of the round, Lowry found himself trailing Richard Sterne by four shots with seven holes to play.

The 31-year-old Irishman showed plenty of fight the rest of the way and delivered his best full swing when he needed it. Lowry hit 3-wood onto the green at the par-5 18th and twoputted for birdie and a one-under 71 for a one-shot victory.

Lowry won for the first time since he captured the World Golf Championship at Firestone in the summer of 2015.

“I completely thought I was gone, to be honest,” Lowry said. “I just tried to put him under as much pressure as I could. But I didn’t think I had that in me today.”

Sterne, who closed with a 69, applied plenty of pressure by opening with four birdies in five holes to take a one-shot lead, and Lowry started to falter around the turn with a pair of bogeys that dropped him four shots behind.

Lowry thought about the 2016 US Open at Oakmont, where he took a four-shot lead into the final round and closed with a 76 as Dustin Johnson surged to victory.

“The one thing I got from Oakmont is I laid down and I didn’t show any fight or bottle there, and I did that today,” Lowry said. “I felt after the 11th hole, I was getting myself in the same situation that I got myself in Oakmont and I genuinely thought that. But I kind of had a quick word with myself and told myself to just kick on now and just see what I can do for the next seven holes.”

Sterne, who shot 31 on the front nine, came back with bogeys on the 14th and 16th, and Lowry holed a 12-foot par putt on No. 17 that he feels won him the tournament. The Irishman had a big advantage going to the 562-yard closing hole because Sterne only had a 5-wood in his bag, not enough club to get home in two. AP

A QUINTA, California—Phil Mickelson has barely stopped smiling since he teed off on Thursday morning in the Desert Classic.

“It’s so fun,” Mickelson said. “I just love being in contention, having a chance to win, being in the final group, feeling the nerves, feeling that excitement, the opportunity.

It’s just, it’s really fun.”

The 48-year-old Mickelson made three long birdie putts on the back nine on Saturday in a bogey-free six-under 66 on the Stadium Course at Professional Golfers Association (PGA) West to take a two-stroke lead into the final round.

He topped the leaderboard for the third straight day after matching his career-low score with an opening 60 at La Quinta Country Club on Thursday and adding a 68 on Friday on PGA West’s Nicklaus Tournament Course.

Mickelson is making his first tour start since early October and first competitive appearance since beating Tiger Woods in Las Vegas in November in a made-for-TV event. The Hall of Famer won the World Golf ChampionshipsMexico Championship last year for his 43rd PGA Tour title and first since the 2013 British Open.

“You never know in this game how things are going to click,” Mickelson said. “I’m certainly surprised that it has clicked. I didn’t really have the number of days in preparation that I would have liked heading in. But again I was mentally sharp and fresh and ready to go and it seems to be paying off.”

Lefty rolled in a 35-foot birdie putt on the par-3 13th and added a 12-footer on the par-4 14th. After missing a 10-foot try on the par-5 16th to spoil an up-and-down bid from the deep greenside bunker, he ran in a 25-footer on the island green, par-3 17th called Alcatraz.

“My goal or game plan of playing the Stadium Course is to actually hit drivers and to try to bomb it down there as close to the greens as you can,” Mickelson said. “... It seemed to play out OK and I gave myself a lot of good chances. I missed a few short putts...but I also made a couple of long ones that were nice little bonuses.”

The tournament winner in 2002 and 2004, he had a 22-under 194 total.

Adam Hadwin was second after a 65 on the Nicklaus layout. The Canadian has three straight top 6 finishes in the event. He was second in 2017 after a third-round 59 at La Quinta and tied for third last year.

“Living in Phoenix these past few years, this is the golf that I play every day,” Hadwin said. “The greens are exactly what we play back in Scottsdale. So I would assume that might add to some of the comfort. It’s really hard to pinpoint. For whatever reason as soon as I get down here in the desert I start playing some good golf.”

Mickelson parred the first five holes, then chipped in for birdie on the par-3 sixth and birdied the next two. AP

PACQ CHAM

NBA RESULTS Oklahoma City 117, Philadelphia 115 Charlotte 135, Phoenix 115 Indiana 111, Dallas 99 Milwaukee 118, Orlando 108 Sacramento 103, Detroit 101 Boston 113, Atlanta 105 Toronto 119, Memphis 90 Miami 117, Chicago 103 Houston 138, LA Lakers 134, OT Denver 124, Cleveland 102

GORDON DELIVERS

JAMES HARDEN is the star as usual for the Rockets. AP

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OUSTON—James Harden was the star for the Houston Rockets as usual on Saturday night, but he and the team got a big boost from Eric Gordon in his second game back after recovering from a bruised knee.

Harden scored 48 points, Gordon added 30 and the Rockets overcame a 21-point deficit to beat the Los Angeles Lakers, 138-134, in overtime.

The Rockets trailed for most of the night and were down by 18 in the second half. Gordon sent it to overtime with a three-pointer, and made four free throws in the last seconds of the extra period.

“He’s playing unbelievable,” Coach Mike D’Antoni said of Gordon.

Coming off 57- and 58-point games, Harden had his 19th straight game with at least 30 and he’s had 40 in 10 of the last 13. He was 14 of 30 from the field, going eight of 19 on three-pointers, and hit 12 of 15 free throws.

Harden was asked if Gordon being back after missing eight games before his return on Wednesday night eased the burden on him a little bit.

“A little bit? It takes a lot of burden off me,” Harden said. “He’s so offensively gifted and talented being able to shoot the basketball, being able to get to the rim, being able to make plays for others.

You get a guy like that on the floor with you it makes it easier for not only myself but for everybody.”

Brandon Ingram missed a three for Los Angeles before Harden hit one of two free throws to make it, 132-130, with less than a minute left. Ingram tied it with a basket, and Harden again made one of two free throws to make it, 133-132.

Los Angeles missed a three before Gordon also made just one of two free throws to leave Houston up by two with 12.6 seconds left. Kyle Kuzma lost the ball and it went out of bounds to give Houston the ball back. Gordon added four free throws after that to secure the victory.

It was the second straight overtime game for both teams after Houston lost to Brooklyn on Wednesday night and Los Angeles beat Oklahoma City on Thursday night.

Kuzma had 32 points for Los Angeles and Ingram added 21 in a game where Coach Luke Walton was ejected in the third quarter.

Already without LeBron James and Rajon Rondo, the Lakers have another injury concern after Lonzo Ball sprained his left ankle in the third quarter. Walton said his x-rays were negative but that he’d have an MRI and “we’ll see where we are after that.”

Four straight points by the Lakers stretched the lead to nine in the fourth quarter, but Harden and Gordon made consecutive three-pointers cut it to, 112-109, with about two minutes remaining.

Los Angeles made four free throws to make it, 116-109, about a minute later, but Harden made two three-pointers around a basket by Ivica Zubac to get Houston within three with about 30 seconds left.

Lance Stephenson missed a three-pointer and Harden made two free throws to cut the lead to, 118-117, with 5.7 seconds left.

Zubac made two more free throws before Gordon’s off-balance three-pointer with two seconds left sent it to OT. “I saw Kentavious Caldwell-Pope running out to me and I thought he was going to fly right by me, but he stood right there,” Gordon said. “So I had to try to shoot it with confidence and I’m glad it went in.” AP

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By Tim Dahlberg The Associated Press

AS VEGAS—Manny Pacquiao showed on Saturday night he’s still got plenty of fight for a fighter on the wrong side of 40.

Whether Pacquiao’s dominating win over Adrien Broner gets him a rematch with Floyd Mayweather, though, is a question that will have to be answered another night.

With Mayweather watching from ringside, Pacquiao showed flashes of his old speed in winning a unanimous 12-round decision over Broner to easily defend his piece of the welterweight title. It was the 61st win of a remarkable career in which Pacquiao has won titles in eight weight classes.

And it put to rest any thoughts of retirement after 24 years as a pro.

“The Manny Pacquiao journey will still continue,” Pacquiao said.

Fighting for the first time at the age of 40, the senator from the Philippines won a lopsided decision that was never in doubt before a crowd that roared at every punch he landed. The decision was never in doubt, but Pacquiao pressed the fight into the later rounds

as he tried unsuccessfully to score a knockout.

Two judges favored Pacquiao by a 116-112 score, while the third had it 117-111. The Associated Press scored it a shutout, 120-108, for Pacquiao.

There were no knockdowns, but Pacquiao landed the heavier punches—and lots of them. He caught Broner in the seventh and ninth rounds with big left hands that sent him backward, while Broner spent most of the fight looking for one big counter that never came.

“At the age of 40 I can still give my best,” Pacquiao said. “ Although I wanted to be aggressive more, my camp told me don’t be careless and to counter him and wait for opportunities. “ Both fighters were cautious late, as the fight slowed in the final two rounds.

Pacquiao, whose pro career stretches back 24 years, showed he still has the speed that carried him over his spectacular career. He also displayed some power, though he was never able to drop Broner.

Pacquiao was clearly the favorite of the crowd of 13,025, who gathered at the MGM Grand arena to see if the part-time fighter still had

MALACAÑANG PRAISES FIGHTING SENATOR

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ALACAÑANG lauded Sen. Manny Pacquiao for again bringing honor and glory to the country following his unanimous victory over American Adrien Broner to retain his World Boxing Association welterweight title on Sunday at the MGM Grand in Las Vegas, Nevada.

“The Palace is one with the entire Filipino people in celebrating Sen. Emmanuel ‘Manny’ Pacquiao’s successful WBA welterweight title defense over American Adrien Broner,” Presidential Spokesman and

Chief Presidential Legal Counsel Salvador S. Panelo said in a statement.

Panelo said Pacquiao did not let his age get in the way as he praised him for how he fought Broner.

“While 11 years older than his opponent, the 40-year-old ‘Pambansang Kamao’ displayed his vintage form just like in his heyday and dominated Broner, who went back-pedalling, in full 12 rounds of battle,” Panelo said.

“We thank our pound-for-pound King for not only bringing honor and

orts

sMirror

Monday, January 21, 2019

QUIAO MP AT 40!

DOTTIE ARDINA is gearing up for her Ladies Professional Golfers Association Tour campaign.

Youth make presence felt

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OTTIE ARDINA hopes to build some momentum for her Ladies Professional Golfers Association (LPGA) Tour campaign as she shoots for the crown in the International Container Terminal Services Inc. (ICTSI) Beverly Place Ladies Classic set to unwrap on Wednesday at the Beverly Place Golf Club in Mexico, Pampanga.

Ardina has had not much success in the last Ladies Philippine Golf Tour (LPGT) event she had played at Pradera Verde last December, finishing a distant third despite coming into the event brimming with confidence following her clinching of a full LPGA card with a strong second-place finish in the Symetra Tour.

But she expects to figure prominently in the title race this week with a victory to bolster her confidence as she slugs it out with the world’s best starting in the Women’s Australian Open next month.

But she will be up against one of the strongest casts ever assembled in an LPGT event, led by a strong Thai contingent out to reassert its domination of the circuit put up by ICTSI and organized by Pilipinas Golf Tournaments Inc. Although Yupaporn Kawinpakorn won’t be around to defend the crown she won over Chihiro Ikeda last year, the country’s perennial regional rivals are well represented by the likes of Wannasiri Sirisampant, Saraporn Chamchoi, Mookharin Ladgratok, Saruttaya Ngam-usawan and Tiranan Yoopan.

Two-time LPGT Champion Tour winner Lee Jeong Hwa of Korea is also in the fold together with compatriot Lee Ji Hyeon, who surprised the elite field in the ICTSI Camp John Hay Ladies Championship last October, which also served as the kickoff leg of the new LPGT season.

But Ardina won’t only be facing a talent-laden foreign crew but also the best of local golf could offer as Princess Superal,

Pauline del Rosario, Cyna Rodriguez and Ikeda boost the stellar cast in the P750,000 event backed by Custom Clubmakers, Meralco, K&G Golf Apparel, BDO, Sharp, KZG, PLDT, Empire Golf and Sports and MY Shokai Technology Inc. Action is expected to be fierce with only the top 15 plus ties from among the 40 starters advancing to the final round of the 54-hole tournament that also drew amateurs Mafy Singson, Samantha Dizon, Eagle Ace Superal and Arnie Taguines of The Country Club along with Laurea Duque and Marianne Bustos.

PRADERA WINNER Jhonnel Ababa savors the sweet

taste of another Philippine Golf Tour Asia Pradera victory at the International Container Terminal Services Inc. Pradera Verde Classic in Lubao, Pampanga, over the weekend. ROY DOMINGO ALTAS Head Coach Frankie Lim in action with his players during a regular practice session at the newly built Home of the Altas Gym 2 in Las Piñas City.

some fight in him. Turned out Pacquiao did, and then some as he pushed the attack against Broner.

Pacquiao was the aggressor from the opening bell, and he had to be because Broner threw only occasional punches in the opening rounds. Pacquiao attacked at will, winning round after round before the fight started to heat up in the middle rounds.

Broner, meanwhile, fought like he was merely trying to survive, despite being 11 years younger than his opponent. He was booed loudly as he raised his hands in victory and jumped on the corner ropes as if he had won.

“I beat him, everybody out there knows I beat him,” Broner said. “I clearly won the last seven rounds.”

Mayweather watched it all intently from his ringside seat, and was coy about possibly coming out of retirement for a reprise of the 2015 lackluster fight Mayweather won by decision over Pacquiao.

“You keep asking me about Manny Pacquiao,” glory to our flag, but for once again uniting all Filipinos worldwide with his display of athleticism, power and Filipino pride.”

Cabinet Secretary Karlo Alexei B. Nograles also congratulated Pacquiao for again “proving that anything is possible with persistence and determination.”

“Once again, you have proven that age is just a number and no goal is insurmountable if there is hard work, persistence and determination. Thank you for continuing to bring pride to the country and for always being an example of the Filipino’s resilience and fighting spirit!” Nograles said in a statement.

Bernadette D. Nicolas

Mayweather said during the fight. “He needs to get past Adrien Broner first. And right now I’m living a happy and healthy life.”

Showtime announcer Jim Gray tried to get Mayweather to climb in the ring after the fight and discuss a possible bout with Pacquiao, but Mayweather demurred.

It was the first fight in the US in two years for Pacquiao, who reunited with trainer Freddie Roach for a bout that would determine how much he had left at the age of 40.

Turns out he had plenty, in a fight that was entertaining even if it wasn’t a classic.

Ringside punching stats showed Pacquiao landing 112 of 568 pounds. Broner threw only 295 punches and landed just 50.

Broner landed no more than eight punches in any round, and just one in the final round.

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HE Philippine Basketball Association Press Corps (PBAPC) honors the season’s finest when it holds the silver anniversary celebration of its Annual Awards Night on Monday at the Novotel Manila Araneta Center in Cubao, Quezon City.

A total of 13 awards will be handed out by the group of print and online sportswriters covering the PBA beat during the two-hour affair presented by Cignal TV and hosted by veteran broadcaster Sev Sarmenta and Rizza Diaz.

The highlight of the presentation is the bestowing of the Virgilio “Baby” Dalupan Coach of the Year trophy to Magnolia Pambansang Manok Coach Chito Victolero, architect of the

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

ARDINA EYES MOMENTUM

THERE are no knockdowns, but Manny Pacquiao lands the heavier punches—and lots of them—on Adrien Broner. Before the fight, Floyd Mayweather Jr. pays Pacquiao a visit in his dressing room. AP AND MP PROMOTIONS

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NIVERSITY of Perpetual Help is down to serious business of creating a heavy dent in the National Collegiate Athletic Association (NCAA) by talking its participation passionately in the Philippine Basketball Association D-League.

Altas Head Coach Frankie Lim has started preparing the team for the D-League battle, which starts on February 14 at the Ynares Sports Arena in Pasig City.

Lim will be parading holdovers for the team are Edgar Charcos, Anton Tamayo, Tonton Peralta, Luke Sese, Jielo Razon, Kim Aurin and Jerome Pacia—all of whom played in the Final Four of NCAA Season 94.

Lim, on his second year handling Altas, added six new players to power up his squad in preparation to NCAA Season 95 on July 2019.

Joining them are transferees are Center Ben Adamos, Lean Martel and Lele Guissani from San Beda, James Labarda from Arellano University, Jeffer Egan from Southern Philippine College in

Lim prepares Perpetual Altas for D-League Cagayan de Oro City, Ramlee Lanoy from Saint Francis of Assisi and 6-foot-4 power forward JBoy Solis from Olivarez College.

AJ Coronel and Rommel Mangalino have already completed their playing years for the Altas but returning to the fold from injury is pint-sized point guard Kieth Pido.

Lim also tapped former Mapua Assistant Coach Ed Cordero and his son Mello Lim to join his coaching staff already composed of Myk Saguiguit, Ferdinand Ali Ali and trainer Gerard Dizon.

“We are using the D-League to see where we are right now and to get good games and proper adjustments,” Lim said. “It’s always best to play stronger teams to become better and more competitive.”

Team owner Tony Tamayo and Lim intend to hold teambuilding activities abroad—in April or May—to strengthen the Altas’ chemistry.

RED CARPET ROLLED OUT FOR P.B.A.’S BEST Hotshots’ title triumph in the season-ending Governors Cup. Sharing the limelight with the 43-year-old Victolero are Danny Floro Executive of the Year winner San Miguel Corp.

Sports Director Alfrancis Chua, along with the entire PBA Board led by Chairman Ricky Vargas, which will be accorded with the President’s Award.

Vargas, also the Philippine Olympic Committee president, is the guest speaker.

For the first time in the 25-year history of the annual tradition—the first was held in 1993 at the old Dona Nena’s Restaurant—the PBAPC will confer a first ever Lifetime Achievement Award, with no less than Alaska team owner Wilfred

Uytengsu as the rightful recipient.

Other awards to be given are the Mr. Quality Minutes (Vic Manuel), Defensive Player of the Year (John Paul Erram), Game of the Season (Barangay Ginebra-Rain or Shine 3OT), Breakout Player of the Season (Chris Tiu), Scoring champion (Stanley Pringle) and Order of Merit (June Mar Fajardo, Paul Lee and Manuel).

Also in the honor roll are the winners of the All-Interview Team (Yeng Guiao, Joe Devance, Chris Ross, Mike Digregorio, Christian Standhardinger and Tiu), the All-Rookie Team (Jason Perkins, Jeron Teng, Paul Zamar, Robbie Herndon and Standhardinger) and PBA D-League Finals MVP, which will also be handed out for the very first time.

ISN’T it incredible that Philippine Basketball Association (PBA) rookies like Robert Bolick and Paul Desiderio are not only getting minutes but also contributing heavily for their respective ballclubs?

Looking at the rosters of all the 12 PBA teams, there are roughly 90 players who were still playing college ball five years ago.

Several years ago, I did some checking and the average career of a PBA player was five years. Hence, I decided to look at the rosters and to see who was playing in the National Collegiate Athletic Association, National Athletic Association of State Colleges and Universities and the Universities Athletic Association of the Philippines (UAAP) up to five seasons ago—aside from the Filipinoforeigners who came in at the same time— and there are a lot.

I think the younger players will bring in the younger crowds who followed their school heroes in their respective collegiate leagues. And that is good for the league.

I recall when the old guard—who were pioneers when the league was young— began to retire, sportswriters and analysts wondered if the league would survive the loss of its stars. But the NCC team and then the young stars of Purefoods (when they first came in) gave the pro loop a fresh infusion of blood not to mention talent.

Then of course, came the Fil-Ams who arrived in droves in the 1990s.

Now, it’s really cool to see all the new talent who up to five years ago were playing for school glory. In fact, there are a lot who came up in the last three years.

I think it’s great.

I’d like to backtrack though on the average playing career. I still think that the league needs a couple of more teams. There is just so much talent out there with too few slots. I think some guys should really give way to the others. But who am I to tell them not to earn for their families?

Nevertheless, I like the youth movement.

And it is also a pleasant surprise to see some guys not only make the roster but also get some playing time.

Maybe, I wasn’t impressed by some during their college days, but they sure have come a long way.

I’ve always believed that in the pros, it is about going to the right team and the right coach; not to mention the right situation.

That is why we see some players blossom in certain surroundings. That too applies also for college.

When Bolick left La Salle, he tried out for a few other teams, but even as far back as his first year in San Beda, he went to the right team (the Red Lions) and the right coach (Jamike Jarin) who gave him the ball.

And watching him do well in his first two PBA games, I just went, “Wow! He really transformed himself into this incandescent player; a game changer.”

Another is Roger Pogoy. When he was playing for Far Eastern University, he reminded me of Arwind Santos’s impact with the Tamaraws a decade earlier. Quietly efficient and deadly. The fact that Pogoy has become a solid player not only for Talk ‘N Text, but also Gilas says something. He was good, but in his final season for FEU in the UAAP, he became so much better and he has continued to flash that form up to today in the pros.

Of course, there are a lot more.

A couple of years ago, during practice for the National Basketball Training Center All-Star Game, then-national team assistant Coach Jong Uichico was asked by some of the high-school players what it would take for them to go to the pros or even play for Gilas. One player said talent. Another said, improving one’s skills.

They were shocked when Uichico said that it was about having the right attitude.

For having the right attitude allows you to learn, to soak in everything, to want to get better and to listen.

And watching the last few PBA playdates, it is nice to see some of these young players not only in a PBA uniform but also to get some playing time and contribute. I really didn’t think some of them would get in the league, let alone play.

It’s nice to be proven wrong. And of course, it adds so much to the league, as my interest has been rekindled.

D

Loving God

EAR God, You strengthen our faith and heal our infirmities. In Jesus’s name we pray: Lead us to live by the light of the Gospel, Oh God. For Pope Francis, his counselors, bishops and Church officials. For school administrators, teachers, guidance counselors and parents. For government officials, servant leaders, civic servants and social workers. For social-media editors and political analysts. May God answer us in time of trial and fulfill the desires of our hearts, through Jesus, our hope and redeemer. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

MODELS parade around the nipa hut inspired by Cesar Gaupo’s resthouse in Laguna, during the closing of Philippine Fashion Week Spring/Summer 2011, and the acclaimed designer taking the stage to make his bows.

Life BusinessMirror

PHILIPPINEFASHIONWEEK LIVE.COM

Hail, Cesar!

TOTA PULCHRA MISS CHARLIZE

@misscharlize

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NLY a few Filipino fashion designers are as universally beloved as Cesar Gaupo. To say that the local industry is devastated because of the death of a true talent is an understatement. As news spread of his passing on January 19, Saturday, I sought out some of his closest friends for their thoughts. A number are still reeling from the tremendous loss, rendered speechless and processing their grief.

Here’s what I wrote about the great designer in 2010: “One of Manila’s modern design masters, Gaupo’s fabled career is marked by romanticism, sensuality and humility. Trained by the legendary likes of Aureo Alonzo and Salvacion Lim Higgins, Gaupo’s place in the fashion pantheon is assured and entrenched.

He is a long-standing designer for SM’s womenswear section.”

After an acclaimed, enviable stint at the Hong Kong-based Shanghai Tang, he didn’t renew his contract, putting an end to a highflying career that took him to all the fashion capitals. “I know it’s a stupid thing to say that one reason I refused to continue working for

AT his 72nd birthday celebration on Friday night with great friends Christopher Badiola, Henri Torres Calayag, Herbert Custodio, Lulu Tan-Gan, Izza Gonzales Agana, Suyene Chi, Desiree Verdadero Abesamis, JB Abesamis and Roulette Avestro Esmilla.

CHRISTOPHER BADIOLA FACEBOOK

the company was because I hate to fly,” he said with a laugh during a previous interview, explaining that the endless trunk shows and boundless meetings made him pine more and more for his laidback, unassuming lifestyle back in Manila. “But I enjoyed my work at Shanghai Tang. I learned a lot. It was from there that I knew what my caliber is. I realized from people of authority in fashion that I have what it takes.”

“Cesar was the first president of the Fashion Designers Association of the Philippines in 1981, while I was FDAP secretary. He was a strong, creative force in uplifting the image of the Filipino fashion designer, and in uniting designers to compete in fashion shows abroad. He pioneered also in the local ready-to-wear scene, with SM since the late 1970s, alongside Lulu Tan-Gan, Caloy Badidoy, Bubum Melgar and Tonichi Nocom,” said Gaupo’s peer Barge Ramos.

Gaupo was celebrating his 72nd birthday on Friday night, attended by fellow designers and supermodel-best friends. He died in his sleep at his Rockwell condo sometime on Saturday morning.

“Your passing this morning has made me so sad,” Ivarluski Aseron, one of Gaupo’s fave younger designers, posted on his Facebook. “One time I called you Nanay but you insisted we were sisters. I clearly remember you among the crowd giving me a thumbs up on my first ever major group show. You will never know that gesture gave me one of the biggest inspirations when I was starting as a designer. For that, I thank you and I love you.”

CONTINUED ON D2

AND THEN SOME: BEAUTY TRENDS WE HOPE TO SEE MORE OF THIS YEAR D4

Monday, January 21, 2019

D1

BusinessMirror

Monday, January 21, 2019

www.businessmirror.com.ph

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Today’s Horoscope

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DIOR PULLS THE STARS IN CONVEYOR-BELT MENSWEAR SHOW IN PARIS

CASUAL can also be chic with Bata B-Flex

GO from day to night with the blockedheel Bata B-Flex.

PARIS—The black box construction branded “DIOR” was so big it obscured the view of the Eiffel Tower.

The sheer scale of menswear designer Kim Jones’s pop-up venue of 2,840 square meters (30,570 square feet) could only mean one thing: he was competing for show of the season on Friday at Paris Fashion Week.

A high-tech conveyor-belt catwalk allowed models to parade before a starry Dior Men front row that included Kate Moss, Lily Allen and a tardy Robert Pattinson.

This is what a luxury supermarket might look like.

At Dior Men, a snaking, meter-wide conveyer belt began moving to thumping music as models in dark, shimmering and couture-infused looks filed by.

In the presentational style, Jones made a welcome ironic comment on the commercial nature of readyto-wear. But this superlative display needed no gimmicks to please.

A romantic sash was slung over a doublebreasted charcoal suit at the chest and hip in a feat of accomplished styling—and one that harkened to couture draping.

A contemporary version of 19th-century spats—banding across the ankles—and arm-length leather gloves added to the show’s romantic, almost swashbuckling, mood.

Jones added an edgy interpretation to the strict codes of Christian Dior, the designer who died in 1957, by translating his obsessions. Dior’s love for big cats became a white tiger fur t-shirt hybrid.

The late designer’s penchant for superstition became charm bracelets, and his initials a “CD” fastening on a safety pin. Dior’s love of art became a sparkling print of a frowning Mona Lisa on a shirt, jacket and sweater.

The entire display maintained a brooding quality, thanks to the insistence on couture-style cashmeres, silk-satin and furs.

The one who Gaupo actually considered his industry child was JC Buendia.

“Cesar has always been proud to say ‘Anak ko ’yan!

Anak ko sa Swiso,’” Buendia recalled. “I started my career in fashion as his assistant. He didn’t force me to follow his style, but instead encouraged me to find my own voice.”

Did Gaupo discover you or did you apply to work for him?

I asked. “I couldn’t forget the Manila Women’s Wear cover of Cesar, Lulu and Pando [Manipon]. So when I saw an ad that he needed an assistant, I went to apply,” Buendia said. “I did his diffusion line, Thesa, for SM in the late-1980s.”

By all accounts, Gaupo was a gregarious person. “Out of work, he taught me how to stay bagets and have fun. I never got his Rick Astley moves though, but he was really good on the dance floor,” Buendia fondly shared. “Cesar never mentioned [if he was sick], he was more concerned about me because of my weight.”

Hairstyling great Henri Calayag echoed this sentiment: “I will forever miss Cesar’s laughter, his humor and his animated actions on every kwento he makes. He was generous, kind, accommodating in every way. We’ve come a long way

CELEBRITIES BORN ON THIS DAY: Booboo Stewart, 25; Ashton Eaton, 31; Emma Bunton, 43; Geena Davis, 63.

HAPPY BIRTHDAY: Pay more attention to important relationships, your health and how you present who you are and what you can do. Turn this year into one of personal growth, enlightenment, and striving to reach higher standards and professional goals. Leave the past behind you, and focus on the moment and what life has to offer. Change begins within. Your lucky numbers are 1, 5, 18, 26, 34, 42, 47.

a

b BUSINESSMEN wearing formal B-Flex shoes can still play soccer thanks to the technology that makes the shoe scratchproof and flexible.

TAURUS (April 20-May 20): Refuse to let emotions get in the way of your responsibilities. A problem can be fixed if you are open about what you want to see happen.

Be the one to make a difference, not the one to cause concern. ★★

c

GEMINI (May 21-June 20): If you want change, make it happen. Refuse to let someone bully you or lead you astray. Make your home a safe place where you can chill and enjoy time spent with family and friends. ★★★★

d

CANCER (June 21-July 22): Step outside your comfort zone and see what life has to offer. Look at possible partnerships and how you can work alongside someone who will contribute as much as you do. ★★★

Give style some Flex

E

LEGANCE and durability. Flexibility and stability.

Beauty and resistance. Now you can have it all in a pair of shoes recently launched by global brand Bata—the Bata B-Flex collection. All in Two. Bata extends its family of technologies with the Bata B-Flex: a new generation of seamless shoes based on hightech materials that can be implemented in any type of shoes, from sneakers to high heels. B-Flex shoes are stable yet flexible, comfortable and resistant, with a clean and modern urban design. The B-Flex technology was created in the innovative studio of renowned Alberto del Biondi in Padova, Italy. Marcos Cánovas, global brand manager of Bata, says: “Alberto del Biondi is the leading design and product creation company in the shoe and accessories industry with a long

experience in tech development. In cooperation with this studio, we created a revolutionary tech collection that will push Bata in a new direction and reach new consumers.”

Adds Jana Barbati Chadová, head of global marketing at Bata: “The main benefit of B-Flex is how the shoes connect two apparent opposites. Apart from its modern design, the shoes offer controlled flexibility, high performance and comfort. Our aim is to meet the needs of the modern customer by offering consumers sexy and comfortable shoes that can be worn every day and for any occasion.”

The Bata B-Flex collection is available at the Bata stores in SM Megamall, SM City Bacoor, SM Makati, SM Mall of Asia, SM City Marikina, SM City Fairview, Robinson’s Magnolia, SM City Lipa and SM City Bacolod.

Hail, Cesar!

CONTINUED FROM D1

By Eugenia Last

ARIES (March 21-April 19): Learn from mistakes, and consider the best way to improve what you have to offer. An act of kindness will make you feel good, as well as make a difference to someone struggling. Romance is highlighted. ★★★★★

BY THOMAS ADAMSON The Associated Press

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D2

Style

The entire Hall 2 of the SMX Convention Center was lined with cogon grass as curtains, with a nipa hut centerpiece installation, a guitar as the backdrop music and the atmosphere approximating the provincial feel of his resort house in Majayjay, Laguna. The production design reflected Gaupo’s character: calm, simple, serene.

Another frequent collaborator, Ariel Lozada, said this show is also his favorite: “I have produced and directed most of Cesar Gaupo’s shows but this one keeps playing in my head. Cesar is one designer who was always in the moment and has embraced the now age of fashion. Our collaborations started from Fashion Watch, Asean Design Show 1 and 2, Gaupo Gala at the PICC Bridgewalk [the longest runway], and many others that bonded our trust for each other creatively. From the very depths of my heart, I thank Cesar.

Bravo, Cesar Gaupo!”

Cesar Gaupo modernized Philippine fashion, being one of the trailblazers of the retailing scene.

“When I design, I look at what’s good and what’s best, and I think of the woman who can appreciate it,” he said of his design sensibility, later adding with nary a hint of arrogance, “I have nowhere else to go because I have already reached the top.” ■

since the early-1970s, and you can always count on Cesar’s goodness and his good soul! What a way to go—celebrate and say your goodbyes.”

Veteran publicist Toots Tolentino also paid tribute to Gaupo in a Facebook post: “In the 1980s, as a contributing writer for People magazine edited by Jullie Yap Daza, our PR colleague Vera Isberto introduced Cesar to me for a fashion pictorial. Since then, we have had the highest respects for his fashion ideology and dictum. With his other equally prolific jobs and the many more palettes he has shown and shared to the industry here and abroad, Cesar Gaupo and his body of work will always be remembered: a fashion legacy from a legendary designer. Bravo, Cesar!”

Gaupo did several shows in the course of a highly successful career. The one I can’t forget, though, is when he closed Philippine Fashion Week Spring/Summer 2011.

“With an impeccably cut, fabric-perfect and color-specific collection, the diminutive designer still stands tall among designers. Using his trademark sensuous draping of soft and flowing materials, such as silk, satin, chiffon, organza, gazar and tulle, Gaupo created dresses and ensembles with clever, non-cliche construction full of youthful vigor,” I wrote after the show.

e

LEO (July 23-Aug. 22): A playful, energetic attitude will lead to success. Network and socialize with people who are as enthusiastic as you are, and good things will transpire.

Personal improvements will boost your morale and make you irresistible. Love is in the air. ★★★

f

VIRGO (Aug. 23-Sept. 22): Don’t mince words when dealing with youngsters or seniors trying to take advantage of you. Set a standard that will ensure everyone stays in line and takes care of his or her responsibilities. ★★★

g

LIBRA (Sept. 23-Oct. 22): You may want change, but some of the people your choices will affect may not. Get the goahead before you make a move that may cause havoc.

Concentrate on personal growth and improvements, not trying to change others. ★★★★

h

SCORPIO (Oct. 23-Nov. 21): Look at all sides of a situation and you’ll come up with a plan that will encourage others to pitch in and help. Don’t let someone from your past cause problems that will upset your current friendships or a love relationship. ★★

i

SAGITTARIUS (Nov. 22-Dec. 21): You’ll attract plenty of attention. Put your energy into something constructive. Fixing up your personal space to suit some of the projects you want to pursue will help push you in the right direction. ★★★★★

j

CAPRICORN (Dec. 22-Jan. 19): You’ll face opposition if you are too vocal about what you plan to do. Focus on perfecting your plans before you decide to share. Someone will take advantage of you or steal your idea if you are too transparent. ★★★

k

AQUARIUS (Jan. 20-Feb. 18): Put your best foot forward. Partnerships, professional gains and personal change are within reach.

Enthusiasm and following through with your promises will lead to greater opportunities and the chance to earn your living doing something you enjoy. ★★★

l

PISCES (Feb. 19-March 20): Channel your energy wisely. You can get into an argument or you can make good use of your time. Helping others can be good for the soul and offer insight into a situation you have been avoiding.

Observation will be enlightening. ★★★ BIRTHDAY BABY: You are energetic, open-minded and fair.

You are sensitive and compassionate.

‘get the boot’ BY LYNN LEMPEL The Universal Crossword/Edited by David Steinberg

ACROSS 1 Have a chat 5 “I beg of you...”

11 ___ Four (Beatles) 14 Taiwanese computer company 15 Made sleepy 16 Copacabana city, informally 17 *Corner square in Monopoly 19 Unusual 20 Pest control target 21 Green pool growth 23 Wranglers alternatives 24 Leftover bit 26 Savory gelatin dishes 29 Snake eyes sum 30 Straitlaced 33 Eeyore’s creator 34 Pakistan neighbor 35 Triceratops, e.g., briefly 36 Sch. booster group 37 *Secondary wager 40 New England Patriots’ org.

41 Beginner’s supposed advantage 43 Flippers 44 Took part in the Daytona 500

46 47 48 49 51 52 54 58 59

Fencing sword Landscaping roll Overly thin, as soup Snake’s secretion Transport freight Accra’s country All together “You’ve got mail” company Crowdfunding site, and a hint to the starred entries’ first words 63 Hall of Famer Gehrig 64 Plaza Hotel girl 65 Spots for dumbbells 66 Hairy primate 67 Dinged 68 Depart the stage DOWN 1 President William Howard 2 Part of a parcel 3 Look at wolfishly 4 Moscow complex 5 Dinner dishes 6 Tackle box items 7 Rockies roamer 8 Will Smith’s role in a boxer biopic

9 Bernie Sanders’ title: Abbr.

10 FBI biopic J. ___ 11 *Fairy-tale creature transformed by a kiss 12 Verdi opera set in Egypt 13 Presage 18 Musical compositions 22 Hollywood patrol force, briefly 24 Sailors’ mops 25 Dairy Queen choice 26 Plentiful 27 Stomach-flattening exercise 28 *Digit’s worth 29 General pattern 31 Deduce 32 Like fuzzy food in the fridge 34 Take the cake, e.g.

38 “Should that prove true...”

39 Psychological harm 42 Enthusiastic 45 Being pursued, as a fugitive 48 Wished for 50 Baring it all 51 Steppenwolf author 52 Festive celebration

53 55 56 57 60 61 62

Basketball basket River to Hades Big rig Former word for “formerly” ___ de la Cite Negative aspect Set of tools, say

Solution to Friday’s puzzle:

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SONY DROPS R. KELLY AFTER FUROR OVER ALLEGATIONS NEW YORK—Multiple outlets have reported that Sony Music has dropped embattled R&B star R. Kelly from its roster.

The announcement comes two weeks after the popular documentary series Surviving R. Kelly drew fresh attention to the sex abuse allegations against R. Kelly, which have dogged him most of his career.

The #MeToo and #MuteRKelly movements have held protests, demanding his music be dropped from streaming services and beyond.

Representatives for Sony and RCA Records, where R. Kelly was signed to, didn’t immediately return e-mails seeking comment. AP

Monday, January 21, 2019

Will ‘Born Beautiful’ do wonders for Martin?

THE two faces of Martin del Rosario

ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

N THIS photo provided by HCA Healthcare’s Methodist Children’s Hospital shows Justin Timberlake visiting patients at the San Antonio, Texas hospital on Friday, January 18. AP

Timberlake pops in on patients at Texas children’s hospital DALLAS—Justin Timberlake has pulled some sunshine from his pocket for the patients at a Texas children’s hospital.

Timberlake took a break from his Man of the Woods tour to pop in and pose for pictures with the young patients at HCA Healthcare’s Methodist Children’s Hospital in San Antonio.

A video of the kids was widely shared all week, with many in their hospital beds as they danced to Timberlake’s hit “Can’t Stop The Feeling” with its refrain of “got some sunshine in my pocket.” The kids held up signs that read “JT See me!” and on Friday afternoon JT obliged.

One girl in a picture with Timberlake held up a sign that read “JT saw me!”

The 37-year-old pop star recently resumed his tour after canceling several dates because of bruised vocal chords. AP

NORA AUNOR

O doubt filmmaker-scriptwriter Jun Lana made cinema aficionados take notice of him when his movie Die Beautiful was released in 2016.

The film, which premiered at the 2016 Metro Manila Film Festival, gave Lana and his team priceless accolades and brought them to various festivals overseas. It’s lead star, Paolo Ballesteros, hit instant fame and even took home international honors.

Ballesteros was accorded the Best Actor plum at the A-list Tokyo International Film Festival, and he also bagged a special jury prize for acting at the 2016 Kerala International Film Festival in India.

The overwhelming success of the movie inspired Lana, his partner Perci Intalan, and their team at IdeaFirst Co. to produce a sequel to the movie, and they called it Born Beautiful. It was supposed to be headlined by Christian Bables, who also scored many acting victories for his performance in Die Beautiful, but conflicts and personal decisions put the project to a halt and prompted the producers to look for a replacement for Bables.

The search was not easy but the lead role fell into the lap of Martin del Rosario, who is not new in essaying gay characters. Del Rosario had already won a prestigious Urian best supporting actor trophy for his closet gay character in Giancarlo Abrahan’s debut feature film Dagitab in 2014.

Del Rosario, who started his television career in ABS-CBN before jumping to GMA in 2014, has also given life to many colorful gender-bending roles on television, so such a character is not entirely new to him. Constant rumors about his true sexual orientation have been hounding him for many years now, and he said that he has gotten used to all these and he has learned to just shrug off the talks and not waste any of his time to react to these allegations. His not being linked to any female coactor all these years have furthered fueled the flames, but he simply does not care. Talks like these have resurfaced, reignited as promotions of his current gay-themed movie kicks into high gear.

He has also courted a lot of controversies in the 11 years that he has been in show business. But he has learned to keep silent rather than put up a defensive stance. “Less is always more,” he intoned, adding,

CHERIE GIL

Big reveals, confrontations on ‘Onanay’ this week WITH a unique storyline and engaging scenes, GMA’s top-rating and well-loved drama series Onanay continues to capture viewers and netizens’ hearts and hook them every night.

Much praise has been given about the show’s characters, and its lead stars are grateful for all the support they have been receiving. It also remains unbeatable in its timeslot and viewers can only expect more revelations and plot twists on the heartwarming prime-time soap.

Jo Berry as Onay promises more exciting episodes that viewers should look forward to. “Happy po ako sa show na ito, sa character ko, sa mga katrabaho ko at lalonglalo na sa lahat ng sumusuporta sa Onanay. Thankful po kami sa kanilang lahat. Marami pong revelations na magaganap sa mga susunod na episodes.”

On the other hand, Mikee Quintos, who portrays the character of Maila, also expressed her happiness

D3

with the series’ success. “Sobrang saya po namin na ganito kainit ang suporta nila sa Onanay. Minsan nasa labas ako o sa mall show, ang tawag nila sa akin ay Maila. Nakakatuwa na tumatak sa mga manonood ’yung characters namin kaya thankful po talaga kami.”

Superstar Nora Aunor and seasoned actress Cherie Gil are, likewise, thankful for the overwhelming support that viewers continue to give the show.

Meanwhile, the story promises to be more compelling as Natalie (Kate Valdez) finally agrees to live with Onay (Jo Berry), Maila (Mikee Quintos), and Nelia (Nora Aunor), in exchange for her grandmother, Helena’s (Cherie Gil), release from prison. But after she conceded to their plea, she feels angrier than ever and is unwilling to accept the fact that they are her real family.

Under the helm of director Gina Alajar, catch Onanay weeknights after Cain at Abel on GMA.

“The less you talk, the less mistakes you make. People will think whatever they’d like to think, and I cannot control that.”

Del Rosario is proud of the work that he has done in Born Beautiful. “Aside from the movie, there’s also a cable series which we painstakingly worked on for almost half a year,” he shared.

He was not only made to look like a real transgender in the movie but he also engaged in sensual scenes with not one, but two leading men: Akihiro Blanco and Kiko Matos. These scenes are being hyped to market the movie, which we hope will help lure the crowds to watch the movie when it opens this week.

The tandem of Lana and Intalan has been tested

time and again, and the quality of their works continue to improve with every new project. That’s why we are quite confident that Born Beautiful will be another winner.

We learned that they are currently wrapping up work for another good material, titled Son of God, and the partners (both in real life and in business) are also preparing to pitch another new project titled Between Sea and Sky at the 2019 Hong Kong Asia Film Financing Forum in mid-March.

But for the meantime, they’re efforts are all being channeled to make sure that Born Beautiful will duplicate the success of the original film, and that the movie will give a new lease on the careers of Martin del Rosario and his coactors. ■

D4 Monday, January 21, 2019

Style

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Beauty trends we hope to see more of this year AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

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VERLY contoured faces, scary looking micro-bladed brows, and lashes that look like spiders are some trends we wish to see less of this year. Really, if I see one more friend with badly done micro-bladed brows, I am going to say something. But there are also so many beauty trends I would love to see more of.

Here are some of them: ■ Red lipstick. So many girls are afraid to wear, thinking it is too bold. But red is a universally flattering color that, really, anyone can pull off. It’s a matter of what red lipstick you choose. My favorite reds include MAC Cosmetics Viva Glam I and Chili and Charlotte Tilbury Carina’s Love. My choices are usually reds that pull toward the brown and orange spectrum.

Those look good on me because of my skin’s warm undertones. True reds like Dior Beauty’s iconic 999 also looks okay on me.

■ Natural looking but groomed brows.

Instagram brows look good on, well, Instagram.

In real life, it’s a bit scary looking, to be honest.

Brows that are neatly groomed and natural looking are better for school and work. I like straight brows with a barely there arch, filled in with feathery strokes using a product like Benefit’s Gimme Brow. Beauty girl Belle Rodolfo

(@bellerodolfo on Instagram) is famous for her natural looking brows. Belle does not have her brows waxed or threaded. She does not want the hair below her brow taken out.

■ Glitter. Who says you cannot wear glitter for daytime? Glitter, when done properly, is so eye-catching. Fenty Beauty’s Diamond Bomb is glitter in a compact. It’s easy to use and works for the face and body. I apply a bit at the top of my cheekbones and I am good to go. It is one of my best beauty buys for 2018.

■ Sustainable beauty products. Unilever recently launched Love Beauty and Planet with three lines to the Philippines. The lines include the Murumuru Butter and Rose Collection, the Argan Oil and Lavender Collection, and the Tea Tree Oil and Vertiver Collection. The bottles of the products excluding caps and labels are made of recycled plastic and designed to be recycled.

Unilever has teamed with a Filipino company for consumers to turn in bottles after use. The products are vegan and contain no silicones, parabens and dyes. The conditioners are easy to rinse because the brand believes that “footprints belong on the sand, not on the planet.” Love Beauty and Planet will first be sold online through Lazada, Beauty MNL, Zalora, Beauty Bubble, Shopee and Watsons Online on January 21. A one-time pop-up happens at Power Plant Mall from January 25 to 27. The products will be available in select drugstores and department stores throughout the Philippines beginning February 1.

■ Touches of neon. From hair to eyelids, touches of neon definitely brighten any look.

Think pink streaks on the hair, or indigo eyeliner to make your eyes pop. It would also be nice to see blush in unconventional colors like yellow and lavender. Nails are also a good way to wear this trend. ■

Jimmy Choo for Spring/Summer 2019 JIMMY CHOO has unveiled their Spring-Summer 2019 campaign starring Kaia Gerber in a series of striking images captured by world-renowned fashion photographer Steven Meisel.

Meisel’s timeless images focus on Gerber’s ethereal beauty in a series of captivating portraits capturing the fresh spirit of the new Helia bag and Raine sneakers.

The campaign features a limited-edition Jimmy Choo branded t-shirt and hooded sweatshirt designed in collaboration with creative directors, Mathias Augustyniak and Michael Amzalag of M/M Paris. The K-tee and K-hoodie will be sold exclusively online at www.jimmychoo.com.

“Kaia leads the next generation of supermodels. Her timeless beauty and fashion pedigree enables her to be a true style chameleon that authentically represents the dynamism of the Jimmy Choo brand transcending generations. It was a privilege to be able to work with Steven Meisel on capturing such striking images,” says Sandra Choi, Jimmy Choo creative director.

BusinessMirror

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Monday, January 21, 2019 E1

THE STRATEGY PUZZLE OF SUBSCRIPTION-BASED DATING SITES

By Yue Wu & V. “Paddy” Padmanabhan

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ATCHMAKING and online dating has become a $2.5-billion industry, and about 25 percent of US couples now meet on the Internet. While most early dating web sites operated as simple platforms where users could freely browse and contact members, newer sites have made matchmaking technology an important value proposition.

But are the lovelorn better served for it?

The business dilemma at the heart of matchmaking IN a recent study, we examined the fundamental conflict of interest that exists between matchmakers and their clients: Upon finding a compatible partner, users typically terminate their site subscription, hurting the firm’s revenue and cash flow. It is, therefore, unclear whether profit-maximizing sites would strive for the most effective matchmaking technology, or deprioritize innovation.

Incentivizing firm innovation

How leaders can get honest, productive, helpful feedback

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By Jennifer Porter

ITHOUT clear performance targets and data measuring how close or far they are from reaching them, leaders find it difficult to grow and improve.

When delivered thoughtfully, however, feedback can provide leaders with the actionable data they need to become more effective. If you want to get the feedback that is necessary to improve your leadership, here are a few steps you can take:

Build a psychologically safe environment. Sh a r i ng feed-

back is often inter personally risky. To increase the likelihood of your colleagues taking that risk with you, show them that their honesty won’t be met with

negative repercussions.

Ask skillfully. Asking “What feedback do you have?” rarely elicits a useful response.

Request both positive and negative data. Clients tell me all

the time that they just want to hear “the bad stuff ” when it comes to feedback. What they fail to appreciate is that positive feedback that targets a specific behavior is useful.

Give your full attention and listen carefully. Eliminate dis-

tractions, including your phone and laptop, and focus fully on the person giving the feedback.

The tactics media unions are using to build membership

By Marick F. Masters & Raymond F. Gibney

NION membership as a share of the workforce in the United States has fallen to its lowest point in 80 years, but news media workers have bucked the trend, winning union recognition at roughly 30 digital news sites since 2015 and in numerous other traditional newsrooms. Looking at how they’ve done it offers a blueprint for would-be union organizers in other industries and is perhaps even an early sign that conditions are ripening for a labor comeback.

have focused intensely on getting a first contract, even embedding their bargaining campaign into the organizing drive, as was done at Fast Company. In many cases, the contracts that have been negotiated are providing more than just baseline provisions: The contract at Thrillist includes merit-based raises, eight weeks paid parental leave, just cause for discipline and discharge, severance pay enhancements and the elimination of “preexisting agreements.” Finally, they’ve convinced media workers that organizing—and agitating—is a risk worth taking.

made among media workers, they signify a broader renewal for organizing. There are other signs, too.

First, a recent survey reveals that nearly 50 percent of the nonunion workers would support union representation. Second, other industries are experiencing similarly growing protests. Finally, it’s worth noting that unionized media workers posses the communication skills and followings necessary to constitute a mobile corps of labor ambassadors. As such, unionizing them may lead the way to the much wider unionization of creative professionals, millennials, lowerpaid workers and industrial workers.

How they’ve done it

A tipping point?

Marick F. Masters is director of Labor@Wayne and a professor of business at Wayne State University. Raymond F. Gibney is associate professor of management at Penn State University at Harrisburg.

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HOW have organizers changed the equation? First, they have convinced workers that having a union as a bargaining representative will actually help workers do better. Next, they

INDIVIDUALLY none of the strategies we’ve outlined above point to a new type of organizing. But taken together, and in the context of the gains that the labor movement has

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

Don’t debate or defend. If you find yourself disagreeing with some feedback, practice selfawareness and notice this reaction, but do not offer contradictory evidence or challenge your colleague.

on what you’ve heard even if you don’t like reflection.

Demonstrate gratitude. Say thank you in a way that conveys sincere appreciation.

Make a plan. All the steps before this set you up to make a plan and put it into practice. Pick one or two capabilities you want to improve, get really clear about what “improved” looks like, and then consider the steps necessary for you to learn and adopt that new behavior.

Great leaders are great learners. Getting and learning from feedback isn’t always easy, but it is necessary, if we want to become better.

Reflect and evaluate. Now that you have some new data, reflect

Jennifer Porter is the managing partner of The Boda Group.

Own your reactions. You may feel happy, angry, confused or frustrated by what you hear. Recognize that your reactions are about you, not the other person.

ACCORDING to our game theoretical analysis, two main factors can hinder the matchmakers’ motivation to offer a better technology. First, users have a better chance of finding a good match in a larger community. The second is, somewhat ironically, uncertainty over consumer patience. Some consumers don’t need or want better technology. And definitely won’t pay for it.

Fortunately, our model also describes a few factors that can incentivize firms to strive for better matchmaking technology. One is competition. Sufficiently intense competition tends to reduce profit margins as it pushes down subscription fees. Better technology starts to be seen in a different light—as a potential source of competitive advantage.

Another way to incentivize matchmaking firms to improve their technology would be to change the subscription-based revenue model to a commission-based model, in which matchmakers charge users based on successful matches.

However, most online dating web sites would find a commission-based system difficult to implement. In these and other cases where commissions are impractical, matchmakers could charge a sizable, upfront payment to cover a longer subscription period. Such locking-in of consumers would help alleviate a firm’s concerns about customer churn and increase its willingness to upgrade technology.

Meanwhile, consumers asked to pay a high fee upfront would be more likely to choose the matchmaker with the best technology, especially if they are serious about finding The One. Hopefully, consumers able and willing to commit to matchmakers will get the matchmakers’ sincere love (and best technology) in return. The key to achieve this mutually beneficial outcome is to resolve the matchmakers’ strategy dilemma, making sure their revenue is not negatively affected by their technology innovations.

Yue Wu is an assistant professor at the Katz Graduate School of Business, University of Pittsburgh. V. “Paddy” Padmanabhan is a professor of marketing and academic director of the Emerging Markets Institute at INSEAD.

Why open secrets exist in organizations

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By Insiya Hussain & Subra Tangirala

N 2017, The New York Times broke the news of media mogul Harvey Weinstein’s apparent decadeslong pattern of sexual abuse and harassment. As details emerged it became clear that Weinstein’s transgressions were not unknown to Hollywood insiders. They were, in fact, an “open secret.”

Indeed, our research shows that when multiple individuals know about an issue, each of them experiences a diffusion of responsibility or the sense that they need not personally take on any costs or burden associated with speaking up.

Our research

WE found these results consistently across three studies. Our first was in the India branch of a Fortune 500 electron-

ics company, in which we surveyed 132 employees (from 25 teams) and their managers about their work and how often they spoke up in the team. We found that the more employees observed problems that they thought were also observed by their peers, the less willing they were to speak up to their managers about those problems.

In the second, we conducted a behavioral experiment with 163 undergraduates. Students read about an issue concerning the lack of shuttle buses between distant campus buildings. As we expected, students who believed their peers were also aware of the issue reported a greater sense of diffusion of responsibility compared to those who believed they were the only ones aware of it.

In a third study, 440 working adults read a realistic scenario about a problem with a product they were creating in their unit. Again we found that participants

were less likely to report being willing to speak up about the problem to company management when their peers also knew about the problem, because they felt psychologically less responsible for raising concern.

What to take away

MANAGERS should tell employees that their voices are not redundant and that they need to share their opinions even if others have the same information.

Managers who explicitly reward rather than punish acts of individual courage can get their employees off the sidelines and acting as engaged citizens at the workplace.

Insiya Hussain is a behavioral scientist earning her PhD at the Robert H. Smith School of Business, University of Maryland, where Subra Tangirala is a professor.

E2 Monday, January 21, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

House approves bill allowing local universities to collaborate with FHEIs

By Jovee Marie N. dela Cruz

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@joveemarie

HE House of Representatives approved on third and final reading a bill that sets the legal bases for foreign universities, particularly top foreign universities, to establish their presence and collaborate with local universities in the Philippines.

Deputy Majority Leader Ron P. Salo of Kabayan, principal author of House Bill (HB) 8682, said the bill expands access to quality higher degree programs of foreign universities.

The bill mandates the Commission on Higher Education (CHED) to formulate a coherent national strategy to encourage and facilitate the establishment of the most effective forms of transnational higher education programs and institutions.

It also mandates Foreign Higher Education Institutions (FHEIs) to establish a commercial presence or engage in the business of providing

educational services in the Philippines through various modes or through arrangement with a Philippine higher education institution consistent with the Constitution.

The measure allows FHEIs to establish branch campuses in the Philippines through a local partner, at least 60 percent owned by Filipino citizens, duly registered with Securities and Exchange Commission or the Department of Trade and Industry, as the case may be.

Salo said 11 different modes of transnational higher education operations are covered in HB 8682 rang-

ing from academic franchising to offering double degrees to a process called “validation,” according to the former University College of London Master of International Law scholar.

The Senate counterpart of HB 8682 is Senate Bill 1593 authored

by Sen. Francis G. Escudero. Sen. Emmanuel Joel J. Villanueva also supports the measure and requests that he be made coauthor of SB 1593 which is still pending at the committee level, according to the latest posting on the Senate web site.

He said the bill allows Philippine universities and colleges to operate overseas.

Salo said it prescribes minimum standards for partnerships, collaborative arrangements and commercial operations.

HB 8682 also allows Philippine colleges and universities to run programs and campuses overseas.

“Such partnerships and collaborative arrangements between higher education institutions in the Philippines and highly recognized schools abroad are expected to help improve the World University rankings of Philippine HEIs,” Salo said.

“One of the effects is ‘osmosis’ of competence and high standards to

the other universities. Our southeast Asian neighbor Malaysia already has its University of Malaya in the Top 100 universities based on the Quacquarelli Symonds [QS] World University Rankings,” Salo added.

The University of the Philippines remains the top university in the country, ranking 384th place in the 2019 QS World University Rankings.

UP’s ranking, however, slid down from 367th in 2018.

Under the measure, the curricula of universities that belong to the Top 500 world’s best universities based on international ranking acknowledged by CHED are deemed to have met the international standards and shall be exempted from complying with CHED standards.

“More foreign investments in higher education will be among the outcomes of HB 8682 when this eventually becomes the Transnational Higher Education Act,” he added.

Salo said the country’s top schools are the ones doing most of the transnational education activity.

“HB 8682 opens various ways for more of the top universities and colleges we have outside of Metro Manila, in Luzon, [the] Visayas and Mindanao,” Salo said.

DLSU’S COLLEGE OF ST. BENILDE TO OPEN S.H.R.I.M. BUILDING

By Rizal Raoul S. Reyes @brownindio Contributor

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N a bid to create more space for its growing facilities and students, the De La Salle-College of Saint Benilde (DLS-CSB) will open the AcadeAmic Building 4 (AB4) on December this year.

The school administration said the 10-story edifice will house the School of Hotel, Restaurant, Institution Management (SHRIM), which will be equipped with Master Chef-style kitchen laboratories. Moreover, it will feature the first school-based Oenology Center, which focuses on the study of wines.

The AB4 will be also house departments such as School of Professional and Continuing Education, and support offices such as the Office of the Vice Chancellor for Administration, Office of the Vice President for Lasallian Mission and Student Life, satellite server of the Information Technology Department, satellite office of Finance, Registrar, General Administration and Services Departments.

Meanwhile, the center will also host its own Learning Resource Center, initiative learning studios, and a publicly accessible chapel, plus the Solomon Restaurant, one of SHRIM’s student-run bistros and a cafeteria.

The AB4 will address the needs of academic spaces and facilities while allowing the flexibility of use and function for activities beyond regular classes.

“With this fourth campus, we will be able to decongest our classrooms in the different campuses,” said Br. Dennis Magbanua FSC, president of DLS-CSB in a press statement.

“We are going to have some highend culinary arts laboratories and specialized experimental-experiential classrooms, where can be visited to see what it means to be teaching in the future,” he added.

Architect Dan Lichauco of Archion Architect designed the building. The building situated between the corners of Arellano and Ayala Streets, Manila, will incorporate structure and elements consistent for a tropical country, with natural ventilation and proper solar orientation for specific areas.

“For inclusion, we are making sure that all of our facilities are PWD-ready and deaf and blind-friendly,” said Benhur Ong, vice president for Administration.

Local construction titan DM Consunji Inc., a pioneer of advanced engineering technology, was tapped to construct the building.

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PHL claims top global UAE sustainability prize

By Roderick L. Abad @rodrik_28

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Contributor

FILIPINO research project bested hundreds of entries worldwide in this year’s Zayed Sustainability Prize (ZSP), one of the biggest global competitions that promote renewable-energy solutions.

Muntinlupa National High School (MNHS) research teacher and 2016 Metrobank Outstanding Teachers of the Philippines awardee Ma. Regaele Olarte, along with other research proponents, received the award during the recent opening of the Abu Dhabi Sustainability Week, in Abu Dhabi National Exhibition Centre, United Arab Emirates (UAE).

The RevAMP: Revitalized Algae Micro-farming research proposal from MNHS envisions a scalable local microfarm to produce high-value products from green algae (chlorella vulgaris).

The state secondary school proposes an efficient algae cultivation with photobioreactors for algae products that provide feedstock, and are related to energy, water, food and health.

The researchers aim to build a community hub that will serve as an off-campus research and training facility. This center hopes to cater to research and product development of the project. It also intends to serve as a training hub for livelihood.

MNHS’s research proposal won in the Global High School category for East Asia and Pacific of the international prize. The team received $100,000 research funding from the UAE government.

This is the second time MNHS was named finalist in the competition. Prior to being chosen as a finalist last year, the initially proposed Comperehensive Algae Microfarm Project was gradually started and the concept was taken to a wider scope.

Other finalists in the same bracket included Fiordland College in New Zealand, Nabala Secondary School in Fiji and Lowanna College in Australia.

Muntinlupa Mayor Jaime Fresnedi lauded the research team from MNHS for bringing pride not only to the country, but especially to Muntinlupa.

He hopes they will serve as an inspiration for local students to also explore research work on renewable energy and sustainability, and be able to contribute not only to the community, but also to a global platform.

Gracing the ceremony were Sheikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai; and Sheikh Mohammed bin Zayed Al-Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.

The Philippine Embassy in Abu Dhabi represented by United Arab Emirates Vice Consul Rowena Pangilinan-Daquipil also attended the event and praised the research team from MNHS as the country’s pride.

Other members of the delegation team included Muntinlupa Schools Division Superintendent Dr. Mauro de Gulan, MNHS Principal Dr. Rante Marmeto, research teacher Jason Albaro and student-researcher Maria Eliza May Faldas. Formed in 2008, the Zayed Future Energy Prize recognizes the environmental legacy of Sheikh Mohammed bin Zayed Al-Nahyan, the founding father of the UAE. In April 2018 the prize adapted its focus with a view to affecting greater impact across multiple sustainability sectors. In order to reflect this evolution, it was renamed the Zayed Sustainability Prize.

The prize has been aligned more closely with the United Nations’s Sustainable Development Goals and the UAE national development agenda.

DepEd partners with Save the Children PHL, Prudence Foundation in schools safety programs P.L.D.T. HONORS 11 T.O.Y.M. AWARDEES Leading telco and digital services company PLDT marked another year of supporting The Outstanding Young Men and Women (TOYM) Foundation which honors outstanding individuals who continue to go above and beyond service for the country. As TOYM Foundation Chairman, PLDT-Smart Chairman and CEO Manuel V. Pangilinan led the Presentation of 11 TOYM 2018 honorees. The 11 TOYM awardees come from diverse fields, including political and social sciences, international journalism, agribusiness, economic development, public service, environment and climatechange education, education innovation and medical science. Since 1959, TOYM Foundation, through the Junior Chamber International Inc. (JCI), has recognized many individuals for their remarkable contributions in Philippine society. The TOYM 2018 honorees (standing, from left) are: Dr. Erika Fille Tupas Legara, honoree for Education Innovation; Dr. Katerina Tolentino Leyritana, honoree for Medical Science; Jamela Aisha Martinez Alindogan, honoree for International Journalism; Dr. Mark Anthony Santiago Sandoval, honoree for Medical Science; Zulueta Jaton, honoree for Community Development; Cherrie de Erit Atilano, honoree for Agribusiness; PO3 Fatima Peñones Ibias Lanuza, honoree for Law Enforcement; Rodne Rodiño Galicha, honoree for Environment and Climate Change Education; and Karl Kendrick T. Chua, honoree for Economic Development. Leading the TOYM Foundation executives is PLDT-Smart Chairman and CEO and TOYM Foundation Chairman Manuel V. Pangilinan. With him are (seated, from left): TOYM 2018 Board of Judges Chairman of Science Secretary Fortunato T. de la Peña; TOYM Foundation President Bienvenido V. Tantoco III; JCI Philippines National President Rey Felix C. Rafols; and TOYM 2018 Search Committee National Chairman Mark Joseph N. David.

SEMINAR ON BIR COMPUTERIZED ACCOUNTING SYSTEM COMPLIANCE

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HERE are over 3,780 large taxpayers in the country and many are not compliant with the Bureau of Internal Revenue Regulation 9-2009 requiring large taxpayers to have a Computerized Accounting System (CAS). This becomes relevant also to the top 500 medium-sized provincial taxpayers in every revenue district which has the equivalent classification of a large taxpayer.

To help medium and large taxpayers regarding their compliance issues, the Center for Global Best Practices (CGBP)will host a training, entitled “BIR Computerized Accounting System Compliance for Medium and Large Taxpayers” scheduled on Friday, February 15, 2019, at the Manila Marriott Hotel, Pasay City.

With the activation of the BIR special task force called “Computerized Systems Evaluation Team [CSET]” to monitor medium and large taxpayers, one can expect more active campaigns and stricter enforcement from the tax authorities.

The lecture will include discussions on the regulations and rulings, presentation of the challenges of

getting BIR CAS accreditation and how to prepare for the actual system demonstration required by the BIR. Attending this will help medium and large taxpayers hurdle and solve their CAS headaches, issues and most important, prevent those dreaded BIR penalties.

The session will feature seasoned practitioner Bienvenido Constantino, CPA, CFA, DD. His expertise includes aligning large taxpayers’ IT-based accounting systems to comply with the regulations on CAS. He is the CEO of “Helix Software Technologies,” an Australian IT firm specializing in cloud technologies designed for SME, medium and large enterprises as well as for LGUs. He has assisted many large enterprises, achieved BIR CAS compliance including A. Soriano Corp., Mirant, MicroD, Trends and Technologies, Mighty Corp., PCSO and Bounty Agro, among many others.

His extensive experience includes having worked as IT project director of World Bank projects with the Commission on Audit and the Department of Energy, as well as in various USAID initiatives. He

finished his bachelor’s degree in accountancy from the University of the Philippines.

Registration is open to the general public. CGBP is accredited by the Civil Service Commission. Attendees from the government can earn points for their career advancement and is exempted from the P2,000 limit when attending training conducted by the private sector based on DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail themselves of the early payment savings and group discount for three or more attendees. Seats are limited and preregistration is required.

Check www.cgbp.org for a complete list of Best Practices programs including “New Year Tax Updates and Remedies,” “Best Practices in Managing Financial Performance,” “Optimizing Tax Savings for Real Estate Transactions” “AMLA for Insurance Companies,” “Managing Cost and Profit,” and many more. You may also call landlines in Manila (+63 2) 8427148/ 59 and (+632) 556-8968/69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07, or Legazpi City (+63 52) 736-0148.

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HE Department of Education (DepEd) formally forged a partnership with Save the Children Philippines and Prudence Foundation for the Education Safe from Disasters Program, which aims to transform national systems and help reduce the risks of natural and human-induced hazards to children, and to establish an effective information management and communication system that will increase the safety and preparedness capacity of all schools in the country.

“Safety is everyone’s job. In the Department of Education, we have worked hard on mainstreaming the Comprehensive School Safety Framework into the education system which aims to strengthen the pillars of safe learning facilities, school disaster management, and risk reduction and resilience education for schools,” DepEd Undersecretary for Administration Alain del Pascua underscored in the program launch at Marco Polo Hotel in Ortigas, Pasig City.

With the theme “Developing an Ecosystem for Comprehensive School Safety in the Philippines,” the program shall build an enabling environment that will empower all stakeholders to realize the goals of the Comprehensive School Safety Framework, a global framework aimed at reducing risks from hazards throughout the education sector by addressing the stated three pillars of school safety.

Alberto Muyot, Save the Children Philippines CEO, said the learners spend an average of five to eight hours a day in schools during weekdays, and their safety and survival are critical while they are away from their parents and guardians. He added that from 2007 to 2012, major disasters affected around 11 million schoolchildren in the Philippines, jeopardizing their right to survival and basic education.

“Schools are centers for nurturing children,“ Muyot said. “We want to ensure that schools not only give children access to education, but also guarantee their safety and survival in times of emergencies.”

The program shall establish an integrated

disaster-management system within the DepEd to continuously improve knowledge and capacity of all its personnel and learners on CSS across all levels: national, regional, division and school. Online resources and tools, and training will be provided to schools and DepEd executives, while research will also be conducted on potentially adapting the model in other Southeast Asian countries to benefit a greater number of learners and teachers.

DepEd’s Disaster Risk Reduction and Management Service and the Information and Communications Technology Service will lead in facilitating the project, which will be piloted in 16 schools divisions of the National Capital Region. In its third year, the program will be rolled out in a second region and will start the preparation for its nationwide scale-up.

Prudence Foundation, the community investment arm of British life insurer Pru Life UK and one of the main drivers of the project, recognizes that education is key to mitigating risk and contributing to early recovery, and aims to make communities safer, more secure, and more resilient by addressing key issues in education, health, and safety.

“Over the last five years, we are proud to have been supporting the Safe Schools program here in the Philippines, supported by the DepEd. We are pleased to continue our partnership with the DepEd and Save the Children, and hope this project will further empower Filipino children, teachers and the community to reduce their vulnerability from natural disasters,” said Marc Fancy, executive director of Prudence Foundation.

“We are grateful to DepEd for giving us another platform to reinforce our commitment of helping secure the future of communities, especially the children,” added Pru Life UK President and CEO Antonio de Rosas, also a board trustee of Prudence Foundation.

The program is estimated to potentially benefit some 20.9 million learners (approximately 10.6 million girls and 10.3 million boys) in close to 47,000 schools across the 17 regions in the Philippines.

Marketing BusinessMirror

www.businessmirror.com.ph

Editor: Efleda P. Campos • Monday, January 21, 2019 E3

What is the digital outlook in 2019?

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PR Matters

By Millie F. Dizon

give your audience a glimpse of your values and culture without spending a dime.”

More important, you can do so without overwhelming your followers with a half a dozen posts a day.

EAR PR Matters, Your last article on what words and phrases to retire in 2019 gave me a lot to think about when crafting my next write-up, and also a lot to laugh about because I didn’t realize how using shopworn words can make you look dated or trying hard.

Since we are beginning a New Year, I would also like to know about digital trends that we can look out for this year.

This will be very helpful as while we usually have our planning sessions during the last quarter, the trends become evident at the start of the year.

Will appreciate your insights on this.

5. Chatbots aren’t going anywhere.

Dear Shirley, Thank you for your letter and for the very insightful observation you made: That, while most planning takes place during the last quarter, trends usually emerge at the start of the year. And yes, we have to be flexible when we implement our plans.

In an article in Inc.com, John Hall highlights “7 Social Media Trends to Prepare for in 2019.” He began by saying that, while business leaders usually have a solid strategy when it comes to the digital realm, we have to face the fact that “marketing in social media is an ever-moving target.”

That’s because the digital world is “always evolving, and what works now won’t work forever.” He recalled that “it already seems an eternity since Facebook only had one ‘like’ option and tweets were capped at 140 characters.”

With everything moving so fast, “growing audience engagement becomes impossible without keeping up to date with digital trends and changes.”

That is why Hall said that to stay ahead of the curve, “keep your marketing fresh, and make most of your content distribution efforts.” Keep these trends in mind as you prepare for 2019.

FREEPIK.COM

Sincerely, Shirley H.

that 66 percent of B2B marketers used paid methods to distribute content last year, and 80 percent said they used them to reach a new audience. And “the last thing that you want to do to new audience members is to turn them off with impersonal, invasive ads.”

Enter LinkedIn Dynamic Ads where you can “personalize paid ad content and foster more authentic communication. Personalizing content from the beginning breaks down trust barriers to make an impact.”

This is certainly worth a try.

3. Social listening will give brands an edge.

WITH audiences craving for more authenticity, Hall said that “you can rely on user-generated content from your actual audience members to do the heavy lifting—and engage for authentically.”

Instead of spending hours crafting digital content in the hopes that your audience will like it, user-generated content “can help grow your base and give your audience a sense of connection. At a time when organic social reach is on the decline, sharing authentic content straight from your audience members can help you connect with your followers and build a stronger relationship with them.”

WITH all the noise and clutter around us, do we even take time to listen? The new digital dynamics say it will be good for us to do so.

Hall agreed. “Engaging with your audience is Marketing 101,” he said.

“But too many marketers forget the importance of listening to those audience members in that engagement equation.”

He went on to say that social listening involves analyzing specific conversations, phrases, and other details on your brand’s and even competitors’ digital pages, and it’s a growing component of competitive social strategies.

There are, he said, “social-media tools that allow you to identify patterns and collect meaningful interpretations of their data.” Using these interpretations to your advantage “can greatly benefit your marketing campaigns in the future, and give you an edge over other brands that are using social media to blast their messages instead of engaging followers.”

2. LinkedIn Dynamic Ads are making ads more personal.

4. The Instagram Stories feature isn’t slowing down.

1. User-generated content will make brands’ efforts more authentic.

HALL cited recent research, saying

PEOPLE: HERVÉ BROSSARD JOINS SID LEE PARIS AS CHAIRMAN EUROPE SID LEE PARIS, subsidiary of the advertising network belonging to Japanese communication group Hakuhodo DY Holdings, today announced the appointment of Hervé Brossard to the newly created position of Chairman Europe. In this new role, Hervé Brossard will work closely with the Parisian directors in order to strengthen and develop operations focused on the agency’s growth in France and Europe.

Hervé Brossard spent a large part of his advertising career at Omnicom Group, with DDB, and was appointed president of Omnicom Media Group in July 2008, a position he took on while continuing in his role as executive VP of DDB Worldwide. Today, Hervé Brossard is returning to his

first love, advertising, and is joining one of the most creative, noteworthy brands in the world, Sid Lee Paris.

Sid Lee Paris, which counts over 90 employees, recently relocated to new, larger offices and serves clients such as Honda, KFC, Red Bull, Nike, Skyn, Musée du Futur of Dubaï, Netflix and Moët & Chandon. Sid Lee's Paris office is headed by Sylvain Thirache, executive creative director and founder of Sid Lee Paris, and Johan Delpuech, president. Both began their careers at DDB and have maintained a close relationship with Hervé Brossard since. Together, they aim to increase the agency’s growth in France and boost the brand’s development in Europe.

"After 40 years with the Omnicom Group, I am proud to join Sid Lee, one of the most talented advertising brands in the world. Sid Lee operates on a new model that relies on collectives of multidisciplinary talents.

In my new position, I will be entirely dedicated to giving Sid Lee Paris an international dimension to support its clients worldwide,“ emphasizes Hervé

HALL said that, while only tempoBrossard. “Hello everyone, we’re happy to announce the arrival of Hervé Brossard, as well as his assistant Florence Kesler to Sid Lee Paris this week. We’ve been close to Hervé for over 20 years now. He was one of the architects of the DDB group, where he became CEO for DDB France, then rose in the ranks in Europe, then globally, before becoming president of Omnicom Media Group.

“We’ve always had a strong connection with Hervé. Ever since the opening of the agency back in February 2009, he’s been one of our strongest supporters. Over these last 10 years, he’s been a sage, friendly and benevolent advisor. His advice was key to our development.

“That’s why it seemed so natural to solidify these bonds, join our thoughts. Hervé is joining Sid Lee Paris as chairman for Europe where he will continue the work he’s already undertaken through his advice and mentoring, and, above all, to reinforce the Sid Lee Paris office on their European positioning, as well as YARD and our affiliations.”

rary, “Instagram Stories have become a popular way for users to consistently update their profiles, keep followers engaged, and in some cases, even increase followers.”

What makes the IS feature so valuable for brands “is that you don’t need to invest in a ton of video to make the most of it. You can share pictures or behind-the-scenes videos that will

CONSIDER testing out chatbots of your own in 2019. Hall said that “chatbots make it easy to quickly interact with your audiences in a way that feels personal. They help you deliver more customized content at the exact right time, provide better service, and increase engagement—and the barrier to entry is still pretty low.”

That’s because today, more people are using messaging apps than socialmedia platforms to connect with friends and brands. This limits your social strategy for updates on Facebook and Twitter, and you can find yourself missing out on valuable opportunities to be a helpful resource.

Thankfully for Hall, “chatbots offer a great way to use these platforms’s messaging features to your advantage.”

6. Dark social will prompt marketers to look beyond social-share counts.

THIS trend brings together two new digital ideas—that there is a dark side to social, and that marketers should look beyond social-share counts.

“The downside of messaging apps’ popularity is the rise of dark social,” Hall said. “With more people sharing content privately, it’s become increas-

ingly difficult to accurately track social-share counts.”

Likewise, the ways people are sharing your content are changing, and we must go beyond social-share counts. Hall advised that “it’s probably a good idea to adapt the ways you measure success. Ask yourself what goal you’re really trying to achieve and look for ways to measure the goal that paints a more complete picture of your progress.”

7. Social CEOs will become the new norm.

HALL said that in 2019, CEOs and other company leaders may need to use digital media to share their insights, connect with the community and listen to their audience.

This can be a tool for communication, but do take caution. Think of Elon Musk and the tweet that changed everything.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

Perspective BusinessMirror

E4 Monday, January 21, 2019

www.businessmirror.com.ph

Saudi women runaways rebel against system of male control

THIS June 23, 2018, file photo, shows a general view of Riyadh, Saudi Arabia. Another Saudi woman has turned to social media for protection from her father just days after Canada granted refuge to Rahaf al-Qunun, the 18-year-old Saudi who fled the country to escape her family. AP/NARIMAN EL-MOFTY

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By Aya Batrawy | The Associated Press

UBAI, United Arab Emirates— Another Saudi woman has turned to social media for protection from her father, just days after Canada granted refuge to Rahaf al-Qunun, the 18-year-old Saudi who fled her family.

Identified only as Nojoud al-Mandeel on Twitter, her case differs from that of al-Qunun. She has not fled the kingdom, has not revealed her face and has only made her pleas for help on Twitter in Arabic.

While their circumstances are different, the claims of abuse by the two women mirror those of other female Saudi runaways who have used social media to publicize their escapes.

There has been speculation that al-Qunun’s successful getaway will inspire others to copy her. However, powerful deterrents remain in place. If caught, runaways face possible death at the hands of relatives for purportedly shaming the family.

Saudi women fleeing their families challenge a system that grants men guardianship over women’s lives. This guardianship system starts in the home, where women must obey fathers, husbands and brothers. Outside the home, it is applied to citizens, often referred to as sons and daughters by Saudi rulers who demand obedience.

Hala Aldosari, a Saudi scholar and activist, said the male guardianship system replicates the ruling family’s model of governance, which demands full obedience to the king, who holds absolute power in decision-making.

“This is why the state is keen to maintain the authority of male citizens over women to ensure their allegiance,” she said, adding that this “hierarchical system of domination” necessitates “keeping women in line.”

Crown Prince Mohammed bin Salman, who’s introduced social reforms loosening restrictions on women, told The Atlantic that doing away with guardianship laws has to be done in a way that does not harm families and the culture. He said abolishing these laws would create problems for families that don’t want to give freedom to their daughters.

The issue of guardianship is extremely sensitive in the kingdom, where conservative families view what they consider the protection of women as a man’s duty.

More than a dozen women’s rights activists have been detained, many since May, after they campaigned against the guardianship system.

Some had also wanted to create alternative shelters for women runaways.

Regardless of their age, women in Saudi Arabia must have the consent of a male relative to obtain a passport, travel or marry. In the past, a travel permit was a paper document issued by the Interior Ministry and signed by a male relative.

IN this June 22, 2018, file photo, women wait in line to ride go carts at a road safety event for female drivers launched at the Riyadh Park Mall in Saudi Arabia. AP/NARIMAN EL-MOFTY Today, Saudi men download a government mobile app that notifies them of a woman’s travel. Through the app, men can grant or deny a woman permission to travel. Some young women who have fled the country had managed to access their father’s phone, change the setting and disable its notifications.

In a statement read to reporters in Canada on Tuesday, al-Qunun said she wants to be independent, travel and make her own decisions.

“I am one of the lucky ones,” she said. “I know there are unlucky women who disappeared after trying to escape or who could not change their reality.”

That’s especially true for women

from conservative tribal families, like al-Qunun’s.

Al-Qunun, one of 10 children, posted online that her father, Mohammed Mutliq al-Qunun, is the governor of the city of al-Sulaimi in the hilly hinterland of Ha’il—a province where nearly all women cover their face in black veils and wear loose black robes, or abayas, in public. The family belongs to the influential Shammar tribe, which extends to Iraq, Syria and other parts of the Middle East.

Her father has considerable clout as a prominent town official and member of a powerful tribe.

Al-Qunun, who barricaded herself in an airport hotel room in Thailand last week to avoid deportation, said she was

abused by a brother and locked in her room for months for cutting her hair short. She said she would have been killed if sent back to her family.

According to government statistics, at least 577 Saudi women tried to flee their homes inside the country in 2015, though the actual number is likely higher. There are no statistics on attempted or successful escapes abroad.

Shahad al-Mohaimeed, 19, who fled abuse and an ultraconservative family in Saudi Arabia two years ago, said fear is a powerful deterrent.

“When a Saudi girl decides to flee, it means she’s decided to put her life on the line and take a very, very risky step,” said al-Mohaimeed, who now

lives in Sweden.

Al-Qunun’s plight on social media drew international attention, helping her short-circuit the typically complex path to asylum. A little more than a week after fleeing Saudi Arabia, she was in Canada, building a new life, posting pictures of wine, bacon and donning a dress above the knees.

Back in Saudi Arabia, the woman identified as Nojoud al-Mandeel posted audio on Twitter on Monday alleging her father had beaten and burnt her “over something trivial”. She posted a video looking onto a neighbor’s gated pool, where she says she jumped from her bedroom window before a friend picked her up and they escaped.

“Don’t tell me to report to police,” she said, explaining that in a previous attempt, police just had her father sign a pledge saying he would not beat her again.

After her story gained some traction online, she was promised attention by a protection hotline in Saudi Arabia for domestic abuse victims.

Prosecutors also reportedly began looking into her allegations of abuse, according to Saudi news sites.

She was placed in a domestic abuse shelter, but on Tuesday complained on Twitter about the shelter’s restrictions over her movements.

Al-Mohaimeed said Twitter is where Saudi women can share stories and be heard. She and two other Saudi women took over al-Qunun’s Twitter account, writing messages on her behalf during the height of her pleas last week to avoid deportation.

“I was not born in this world to serve a man,” al-Mohaimeed said. “I was born in this world to fulfill my dreams, achieve my dreams, grow, learn and be independent—to taste life as I hold it in my hands.”