Businessmirror January 31, 2019

PHL LABORS OVER CORRECT JOBS DATA

By Jasper Emmanuel Y. Arcalas @jearcalas

& Samuel P. Medenilla @sam_medenilla

I

S the glass half full or half empty?

That’s a question that also concerns the government’s labor data.

Due to various constraints, the government could only provide a “snapshot” of the country’s employment situation, giving rise to different interpretations by officials and think tanks like IBON Foundation Inc., which recently stirred a hornet’s nest by saying that the government’s claimed number of jobs created is actually just a fraction of the real figure.

National Economic and Develop-

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ment Authority (Neda) Undersecretary Rosemarie G. Edillon told the BusinessMirror that the government neither has nor collects data that specifically determines the “new” jobs or employment created in a given time or period.

The government only uses the year-on-year change in the employment rate of the country to approximate the number of works created in a given year, according to Edillon.

However, the same data set—the number of employed Filipinos locally —also includes those who are reentrants, or those previously employed, on top of the “newly” employed ones, Edillon added.

See “PHL labors,” A2

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Thursday, January 31, 2019 Vol. 14 No. 113

‘Spending ban exemption to cover ₧500-B projects’

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By Bernadette D. Nicolas

@BNicolasBM

HE Executive branch will likely ask the Commission on Elections (Comelec) to exempt at least P500 billion worth of big-ticket projects from the election spending ban to avoid delays in the government’s massive infrastructure program.

Budget Secretary Benjamin E. Diokno said economic managers will submit a memorandum detailing their proposal to President Duterte in time for the Cabinet meeting next week.

“We are ready to submit a memo to the President and he, in turn, will

ask the Comelec to exempt at least the 75 big-ticket projects so that there will be little disruption in our ‘Build, Build, Build’ [BBB] program,” he told reporters on Wednesday.

“Our budget for infra is close to P1 trillion, and it is very important that we have them started during

the dry months, so we can say that maybe at least half of the trillion will get started this first quarter,” he added.

The Department of Budget and Management (DBM) chief clarified that economic managers are not seeking a “blanket” exemption,

“Our budget for infra is close to P1 trillion, and it is very important that we have them started during the dry months, so we can say that maybe at least half of the trillion will get started this first quarter.”—Diokno

as they have already identified specific projects that should not be covered by the ban.

Of the 75 big-ticket infrastructure projects, Diokno noted that half are already on stream, including some of the major projects being undertaken by the Department of Public Works and Highways.

He said this is not the first time that the Executive branch has requested for an exemption from the

HE Department of Budget and Management (DBM) said it is conducting a study that will aid the government in crafting a “solid” strategy to address slow farm production after President Duterte said agriculture is dragging down the country’s economy.

Budget Secretary Benjamin E. Diokno told reporters in a news briefing on Wednesday that they will be ready with the study in time for next week ’s Cabinet meeting.

“We need all the evidence and all the facts so we can come up with a more solid conclusion and strategy moving forward because the President really has expressed

concern that agriculture is dragging [down] the whole economy,” Diokno said.

The government would have been able to hit its GDP growth target of 7 percent last year if farm production expanded by 4 percent, considering the good performance of the Services and Industry sectors in 2018.

“A g r icu lt ure has not been performing well. We cannot afford that because it is also important in our desire to reduce poverty to about 13 percent by 2022. Plus, of course there are some 105 million consumers, so it also affects their general wellbeing,” Diokno said.

See “DBM,” A2

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ILO’s dilemma: Shaping the social contract for the 21st century Rene E. Ofreneo

LABOREM EXERCENS

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HE International Labor Organization (ILO) is celebrating this year its centenary. It was established in 1919 as part of the Treaty of Versailles, the treaty forged by the winning Allied forces to formally end World War I. So what is the connection between the war and the formation of the ILO? The ILO’s founding Constitution succinctly explains the reason: “Whereas universal and lasting peace can be established only if it is based upon social justice; And whereas conditions of labor exist involving such injustice, hardship and privation to large numbers of people as to produce unrest so great that the peace and harmony of the world are divided.”

See “Spending,” A2

Continued on A7

DBM looking for ways to expand production of PHL farmers, fishers

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“That’s why for labor force survey, we take four snapshots, then we average it,” she said in an interview. “We just approximate by looking at the number of employed minus the number of employed last year.”

In a recent news briefing, Edillon said the country generated 826,000 jobs in 2018, which was based on the difference between the average number of employed Filipinos in 2018 and 2017.

In 2018, 41.160 million Filipinos were employed compared to the 40.334 million recorded employment in 2017, Philippine Statistics Authority (PSA) data showed.

‘Probe $85-M LandBank loan to Hanjin’

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PAG-IBIG REPORT Sec. Eduardo D. del Rosario, chairman of the Housing and Urban Development Coordinating Council and Pag-IBIG Board of Trustees, delivers the Pag-IBIG Fund Chairman’s report, with the theme “Tiwala at Tangkilik ng Miyembro, Matatag na Pondo,” on Wednesday at the Philippine International Convention Center. He cited Pag-IBIG’s record growth in net income, even as gross income declined. Story on page A8. ROY DOMINGO

HE Philippine Maize Federation Inc. (PhilMaize) has formally written to President Duterte urging him to investigate the Land Bank of the Philippines (LandBank) for extending a loan of $85 million to South Korean shipbuilder Hanjin Heavy Industries and Construction Co.-Philippines (HHIC-Phil).

In its letter, a copy of which was obtained by the B usinessM irror, PhilMaize argued that the government should also scrutinize LandBank’s loan portfolio to determine if it had been faithful to its mandate of prioritizing the agriculture sector.

The letter was also sent to the offices of House Speaker Gloria Macapagal-Arroyo, Senate President Vicente C. Sotto III, Agriculture Secretary Emmanuel F. Piñol and Finance Secretary Carlos G. Dominguez III, who chairs the LandBank board.

See “PhilMaize,” A8

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Source: BSP (30 January 2019 )

A2

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Thursday, January 31, 2019

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If budget stalls, Comelec has ₧4-B contingency fund

By Samuel P. Medenilla

the Department of Budget and Ma n agement (DBM) a l lowed them to use 25 percent of their

first quarter budget to meet their obligations to their volunteers as prescribed by Republic Act 10756 or the Election Service Reform Act (Esra).

He said they are also considering using their “savings,” which the Constitution allows them to use if they need additional funding.

He, however, stressed they will only resort to both measures if the 2019 budget will not be passed on time by lawmakers.

“Senators and [the House of Representatives] gave the commitment. It appears they will be able to pass it [2019 budget] after the first quarter. So the [budget] for the Esra is as good

as saved,” Abas said.

In it s budget proposa l to Cong ress, Comelec requested for a 10.2-bi l lion budget for its 2019 National Expenditure Program.

Of this budget, P6 billion will be allocated for the 2019 National and Local Elections.

On Wednesday, the Senate threatened to push for a reenacted 2018 budget amid fresh allegations the 2019 budget still contained illegal pork barrel.

The House of Representatives leadership was a lar med w ith the latest development, since Comelec will not have the necessary funds to hold the 2019 polls.

6.8 percent. The country’s economy expanded by 6.2 percent in 2018.

Phi l ippine economy was buoyed by the Services sector, which accounted for 48.3 percent of economic growth, followed by Industry with 28.6 percent.

Diokno also belied the claim of the Department of Agriculture (DA) that a lower budget is the culprit behind the productivity woes of the sector.

The DA’s proposed budget this year was slashed to P49.8 billion,

from last year’s P55.7 billion.

But the DBM said the budget cut in various government agencies was due to the shift to cash-based budgeting and their spending performance in previous years.

“The performance of the sector has little to do with their budget and has everything to do with policy strategy and implementation,” said Diokno, who is also the chairman of the Development Budget and Coordination Committee.

Citing historical data from

previous administrations, Diokno said the farm sector has already shown that it has the potential to grow by 4 percent even though the increase in spending for the sector was consistently flat.

“In fact, agricultural growth i n 1999 a nd 20 0 0 averaged around 6.5 percent. We can grow at that rate, at around 4 percent w ith agr iculture. Agr iculture must grow by 2 percent if as the country’s population has been expanding at the same rate,” he said. Bernadette D. Nicolas

proposed budget.

“I think you have read in the newspapers that the Senate owned up to P200 billion in their own amendments. So that has to be sorted out between the House and the Senate,” Arroyo said. “Well of course we want to have it come out before it’s too late.”

Last Monday, the Senate and the House of Representatives temporarily agreed to set to P50 billion their “re-prioritization” projects.

The agreement came after the House bared at the recent bicameral conference that senators introduced almost P190 billion in so-called insertions.

Lawmakers also clarified that these “institutionalized amendments” are not the unconstitutional “pork barrel.”

The Senate has yet to identify which programs or projects will

be funded under these re-prioritization projects.

“I urge my Senate friends not to abandon the bicameral conference proceedings. I remain hopeful of a positive outcome,” Andaya said.

comment on Sotto’s recommendation to withdraw the Senate version of the General Appropriations Bill and go for a reenacted budget.

“The Palace will issue a statement,” Diokno said in a text message to reporters.

However, the Palace has yet to issue a statement, as of press time.

D iok no con f i r med Sot to’s statement that the 2019 elections will not be affected if the government operates on a full-year reenacted budget since the funding for it has been already included in last year’s appropriations.

The National Economic and Development Authority projected that the GDP growth will be reduced by 1.6 to 2.3 percentage points if the budget is reenacted for the full year.

The government is targeting to achieve 7-8 percent economic growth this year.

@sam_medenilla

A

S the 2019 budget’s fate still hangs in Congress, the Commission on Elections (Comelec) was able to secure a P4-billion contingency to pay the public-school teachers and other volunteers who will serve in the 2019 elections.

I n a l ate a f ter noon press conference on Tuesday, Comelec Chairman Sheriff Abas said

DBM. . .

Continued from A1

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

In terms of share to GDP last year, the farm sector contributed the least as it accounted for only

Budget. . .

Continued from A8

adding that they can live with a reenacted budget and end all unsavory insinuations against members of Congress.

Pork barrel?

ON Tuesday, Andaya hinted at the possibility of Congress’ failure to approve the 2019 national budget before adjourning on February 6 for the May elections.

“We are prepared to own up to what we are requesting for, down to the district level, and we are open to having the whole process open to media. We are willing to break it down,” he said.

For her part, Speaker Gloria Macapagal-Arroyo said the Senate should explain its P190billion “ insertions” under the

Spending . . .

Continued from A1

public works ban.

“We’re confident that our request will be granted, as this is for national welfare and development so I think Comelec will be broad-minded enough.

For example, if it is a national project it will not affect elections,” Diokno said.

Due to Congress’s failure to approve the 2019 national budget before the end of 2018, the government is currently operating under a reenacted budget, at least for the first quarter of the year.

In a separate briefing at the Palace, BBB Committee Chairman Anna Mae Lamentillo and Finance Assistant Secretary Antonio Joselito G. Lambino II backed the plan of the Executive branch to seek Comelec exemption on certain infrastructure projects. “[The exemption will help] especially for bigticket projects [as] we want to observe the proper timeline,” Lamentillo said.

Lambino noted that at least 0.25 percentage points will be slashed from the country’s GDP growth rate for the first quarter due to the reenacted budget.

Comelec Spokesman James B. Jimenez said during the BusinessMirror Coffee Club Forum on Tuesday that the poll body is likely to get the poll body’s nod, except if the request is for a blanket exemption.

The National Economic and Development Authority pitched the idea of exemption on Monday as economic managers discussed ways of reducing the impact on first-quarter growth of the limited government spending—by as much as P46 billion, per finance department estimates—resulting from the delayed passage of the 2019 national budget.

Scenarios

IN a news briefing, Deputy Minority Leader Anthony Bravo of Coop Natcco party-list said the proposal of the Senate President may lead to a no-election scenario.

According to Bravo, there was no allocation for the 2019 midterm elections under the reenacted 2018 national budget.

“If we fail to pass this budget, we might not have the election [in May]. We need to pass the budget to finance the May elections,” he added.

Budget Secretary Benjamin E. Diokno refused to comment and deferred to Palace when asked for

PHL labors . . .

Continued from A1

The PSA averages the results of four rounds of labor force survey (LFS) to approximate the country’s annual employment rate.

The PSA surveys around 44,000 households for its quarterly LFS report with rounds being conducted every January, April, July and October.

The same person employed in all four rounds will be counted as only one and will not be counted as four, Edillon explained.

She admits there’s a fluctuation in the country’s employment statistics as there is continuous movement in and out of the labor force “daily, quarterly and yearly.”

Panel data

EDILLON said a panel data is required to specifically determine how many jobs were newly created in the country. However, such type of data set, which covers the same sample size every time the survey is conducted, is costly and challenging, according to Edillon.

“It is always a trade-off because the problem with panel data is that it is actually more difficult in the succeeding surveys,” she explained. “You really have to locate [the same people surveyed].”

“What if they no longer lived in the place or [for example] they migrated? And the problem also with panel data is that over the years your sample size would be reduced which means you have to replace them,” Edillon added.

FIES data

SHE explained that the only panel data that the government has is the Family Income and Expenditure Survey (FIES), which is

conducted every three years with same respondents interviewed twice during the reference period.

Nonetheless, Edillon said one aspect of the LFS data that they monitor to indicate the creation of “new” jobs is the number of people classified as “wage and salary workers.”

“You check the wage and salary workers because that is the demand for workers that you actually pay,” she said.

Six days ago, IBON Foundation claimed that the Duterte administration was only able to create 81,000 jobs in two years or from 2017 to 2018.

The figure was derived by averaging the difference between the average number of employed Filipinos in 2018 (41.2 million) and 41 million in 2016.

“This 162,000 is the net job creation between 2016 and 2018 or, put another way, the sum of new jobs created in 2017 and 2018,” IBON Foundation said in a statement.

“Dividing 162,000 by two gives us 81,000 which, therefore, is the average annual job generation [rate] in 2017 and 2018, which are the first two full years of the Duterte administration,” it added.

Valid but incomplete

THIS was how the Department of Labor and Employment (DOLE) described IBON Foundation’s analysis.

An official of the DOLE’s Bureau of Local Employment (BLE) pointed out IBON may be referring to net employment since the LFS does not measure the number of jobs or available positions, but rather the number of people, who are employed or unemployed.

Still, the BLE noted IBON’S observation is correct that net employment during the first two years of President Duterte was lower compared to previous administration.

Gunman shoots NDFP consultant Malayao dead inside passenger bus

By Rene Acosta @reneacostaBM

A

STILL-UNKNOWN gunman shot dead on Wednesday a consultant of the National Democratic Front of the Philippines (NDFP) inside a passenger bus bound for Cagayan.

Chief Supt. Jose Mario Espino said Felix Randy Malayao Jr., resident of Barangay Minanga Norte, San Pablo, Isabela, was shot dead at around 2:30 a.m. while he was sound asleep inside a Victory Liner bus with plate number ATA-9361.

Espino said the suspect went up into the bus right after it parked at the CCQ Bus Terminal in Aritao, Nueva Vizcaya, for its regular stop and shot Malayao.

The bus driver and his conductor were taking their snacks outside the bus when the shooting occurred.

The suspect casually went down from the bus after the incident, boarded a black Yamaha

M io mot orc yc l e d r i v e n b y a companion and fled.

Citing intelligence reports, Espino said Malayao was listed as a consultant of the NDFP’s peace panel and was formerly the rebels’ spokesman for Northern Luzon.

Malayao, also known as alias Salvador del Pueblo, was arrested

by Criminal Investigation and Detection Group operatives and Army intelligence agents on May 15, 2008.

He wa s a l so a mong t hose charged in the killing of the late Cagayan Rep. Rodolfo Aguinaldo in 2001, but Judge Jezarene Aquino of the Regional Trial Court, Branch 5, in Tuguegarao City, acquitted him of the case due to lack of evidence.

Espino said Malayao had served as the overall leader of all sectoral groups operating in Cagayan Valley and was the former secretary of the rebel group’s Komiteng Rehiyon Hilagang Luzon before he became a consultant of the NDFP.

Grenade blast in Zambo mosque kills 2, wounds 3

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NIDENTIFIED suspects lobbed a grenade into a mosque in Zamboanga City on Wednesday, killing two people and wounding three others during the explosion, the police reported.

A report sent to Camp Crame by the Zamboanga City Police Office said the bombing occurred at around 12:25 a.m. at the mosque at Logoy Diutay, Barangay Talon-Talon.

Responding policemen identified the fatalities as Hadji Sattal Bato, 47, married and resident of Isabela City, Basilan, and Rex Habil, 46, married and resident of Lamitan City, Basilan.

Those who were injured were identified as Palson Saji Asgali, 44, Alnizkar Sabbaha, 30, and Jikilani Albani, 60 years old, all of Lamitan City, Basilan.

The report said the five men were among the group of Muslim tablig (religious) who

The PSA data showed average employment during the first two full-year term of former President Joseph Estrada from 1999 to 2000 was at 842,000.

During the time of former President Gloria Macapagal-Arroyo (2002 to 2003), it was 740,000, while it was at 783,000 for former President Benigno Aquino III’s (2011 to 2012).

Expected reduction

DOLE-BLE Director Dominique R. Tutay, however, pointed out the decline was expected due to Duterte’s new labor policies, as well as the unabated decline in employment in the agricultural sector.

Tutay said the full implementation of DOLE’s campaign against illegal contractualization in 2017 created caused concerns among employers.

“We believe 2017 is really an adjustment period after the government set up all its policies. Many investors adopted a wait-and-see approach afterward to see how it will turnout,” Tutay told the BusinessMirror in an interview.

In a statement, Labor Secretary Silvestre H. Bello III attributed the decline by 72,000 in the number of employees in the service sector in 2017 to stricter anti-illegal contractualization policy.

Based on PSA data, employment figures shrank by 664,000 in 2017 before recovering to 826,000 in 2018.

Some firms were also unable to fully absorb the affected contractual workers.

Bello, however, said the service sector was able to recover in 2018, even registering a 610,000 employment.

Better employment

DESPITE so-called birth pains from its implementation, Tutay said, the new policy actually led to a significant improvement in the quality

took their rest at the mosque when the streetlight in the area was switched off by suspects.

“Thereafter, the suspect/s hurled a grenade inside the mosque where the group of tablig rested and others had performed their Islamic faith [rituals],” it said.

Responding policemen recovered from the crime scene some grenade parts.

The bombing occurred four days after twin explosions hit the Jolo Cathedral in Sulu wherein, according to Defense Secretary Delfin Lorenzana, the number of fatalities has already increased to 21 as of Wednesday.

Lorenzana dismissed any connection between the two bombings, although he noted that the Islamic State is trying to create a wedge between Moro and Christians in Mindanao.

“This will not succeed, as no one is biting,” he said. Rene Acosta

of employment in the country.

She pointed to the 13.3-percent underemployment rate in October 2018—the lowest in the last decade—as an indicator that government is gaining in the jobsgeneration race. Underemployment rate measures the number of workers still seeking additional work.

As Bello is always saying, no administration in the past was able to regularize over half a million workers, Tutay said.

She added the DOLE is optimistic that more workers will be regularized in the future, especially now that private companies are voluntarily complying with contractualization policies.

Tutay, however, said they would have to wait until the end of the Duterte administration in 2022 before they could determine the policy’s full impact.

Agricultural decline

THE DOLE believes another factor for the decline in employment is the dwindling number of agriculture sector workers since 2016.

From 11,064,000 million in 2016, the number of workers in the farm sector decreased to 10,261,000 in 2017 before dropping to 10,002,000 last year.

Even if the services and industry sector are generating jobs, but if you have a poor performing agriculture sector, it pulls down the performance in totality, Tutay said.

She attributed this to the farmers’ difficulty in adjusting to the harsh weather brought about by climate change.

“The sector is having a hard time recovering. Even if does, it is only a few thousands,” Tutay said. She said addressing this should be the priority of the current administration since it will affect the country’s bottom line employment figures.

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Evap sees brisk sale of e-vehicles in 2019

By Elijah Felice E. Rosales @alyasjah

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LECTRIC vehicle makers are targeting to sell 12,000 units this year in a step closer to their objective of hitting 200,000 units sold by 2024.

Electric Vehicles Association of the Philippines (Evap) President Edmund A. Araga told reporters sales could increase over the next years on the back of strong demand for e-vehicles in the face of the government’s modernization of jeepneys.

“There is a rise in demand because, during the launching of [the] PUV [public-utility vehicle] modernization program, the manufacturing of electric vehicles got hyped,” Araga said.

He, however, admitted the industry’s goal of 200,000 units sold by 2024 is still far from reach. Citing preliminary figures from the Land Transportation Office, Araga said there were about 7,000 e-vehicles registered with the government last year, which was also indicative of the industry’s total sales.

The Evap is staring at an annual growth rate of 8 percent to 12 percent that will put revenue from services at P1.68 billion and sales at 200,000 units by 2024.

“Looking at the jeepney [segment alone], sales of 5,000 units to 10,000 units this year is a feasible target. We are looking at a higher stake—depending on the total production of our members—and [sales could] scale up around 12,000 units,” Araga forecasted.

E-vehicle manufacturers are also hopeful there will be foreign investors interested to locally produce electric batteries, which is 50 percent the entire component and production cost of e-vehicles, according to the Evap chief.

Nickel industry players seek wider govt support

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE Philippine Nickel Industry Association (PNIA) bared plans on Wednesday to craft a road map to determine the essential government and privatesector interventions to spur the development of the local industry’s value chain, notably the establishment of processing plants.

PNIA President Dante R. Bravo said the road map is one of the target outcomes of the first Nickel Initiative this year, when concerned stakeholders gather to discuss how to develop the local industry.

“Let’s see if we can do it one year’s time. We hope to be able to come up with something to be able to promote the industry and help the government in shaping the right policies,” Bravo said in an interview with the media in Makati City.

“This Nickel Initiative is a start for all stakeholders to come together and to be able to discuss and convince the government that there is a need to shape-up policies to support that

direction. To be able to encourage more value-added processing plants we have to shape up our policies to attract high investments,” he added.

Bravo said one of the concerns of the nickel industry to develop value-added processing in the country is the hefty investment needed to pour in, which could be slashed if the government would provide subsidies and incentives.

Bravo explained that in other countries such as China and Indonesia, their governments provide subsidies on infrastructure and power costs, as well as tax holidays.

Such incentives, if provided by the Philippine government, would en-

courage investors to put up processing plants locally, according to Bravo.

For example, Bravo said, it cost about $1 billion for the construction of the Taganito HPAL processing plant in Surigao del Norte. Such cost could be reduced if the government would shoulder part of the intended investment, according to Bravo.

“There is going to be a fair understanding on what is the role of the nickel industry, which we believe is a significant economic driver,” he said.

“There’s going to be appropriate policies to support the initiative that if and when we will have the valueadding processing plant, then all of these will support part,” he added.

DILG rejects call to postpone Manila Bay rehabilitation

By Jonathan L. Mayuga

@jonlmayuga

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N official of the Department of the Interior and Local Government (DILG) has rejected the call of the Makabayan bloc to postpone the rehabilitation of Manila Bay. “We wish to emphasize that Manila Bay is in critical condition. Actually, the bay is in ICU [intensive care unit]. We cannot afford an additional day of delay. Giving in to Makabayan will only make matters much worse,” DILG Assistant Secretary and Spokesman Jonathan Malaya said in a news statement released on Wednesday.

In a related development, the Laguna Lake Development Authority (LLDA) launched on Wednesday a massive inspection of commercial establishments in the cities of Pasay and Manila as part of the bay rehabilitation program.

A total of 14 teams composed of at least five members each were dispatched by the LLDA to conduct water sampling.

Each team is also armed with proper identification, inspection evaluation report, waste-water sampling form, pre-inspection report and refusal of entry form.

LLDA General Manager Jaime C. Medina said cease and desist orders and notices of violation will be issued by the LLDA to business establishments who fail to meet effluent standards for SB water quality.

Job caravan targets to employ displaced Hanjin workers

By Lorenz S. Marasigan

Editor: Vittorio V. Vitug • Thursday, January 31, 2019 A3

@lorenzmarasigan

HE government is stepping in to help displaced workers of the financially troubled Hanjin Heavy Industries and Construction-Philippines get a job through the state’s “Build, Build, Build” (BBB) program.

Public Works Secretary Mark A. Villar said the BBB team will be pooling some 70 employers from different contractors in the infrastructure program and locators of the Subic Bay Freeport Zone (SBFZ) for a job caravan next Saturday.

“This is an opportunity for us to aid those who lost or will lose their jobs in Hanjin, and at the same time complement the manpower requirement of the BBB program of the government,” he said.

Villar also underscored the need for additional labor force to match the yearly additional budget in infrastructure projects.

“The Build, Build, Build program remains a priority of President Rodrigo Duterte’s government. This program, which is expected to generate thousands, even millions of jobs nationwide will be able to provide options for our displaced workers,” he said.

Transportation Secretary Arthur P. Tugade noted that at least a thousand jobs will be available at the caravan, which include vacancies for construction workers, welders, carpenters, engineers and administrative staff.

Wilma T. Eisma, chairman and administrator of the Subic Bay Metropolitan Authority (SBMA), added that her group will help in finding more locators to that are in need of manpower.

“We are committed to find every opportunity for the SBMA to make more jobs available and catalyze greater growth in Central Luzon and the rest of the country,” she said.

The jobs caravan is spearheaded by the Departments of Public Works and Highways, Transportation, Finance, Budget and Management, Labor and Employment, Trade and Industry, National Economic and Development Authority, Bases Conversion and Development Authority (BCDA) SBMA, and the Clark Development Corp.

For his part, Labor Secretary Silvestre H. Bello III said his office assures that there will be no job-skill mismatch during the caravan, as the agency has already profiled the 2,779 workers that were displaced after Hanjin filed for bankruptcy.

“Around 65 percent or 1,801 of the 2,779 profiled Hanjin workers are skilled in carpentry, 24 percent or 661 on the other hand have skills in vulcanizing and welding, hence there will be no problem with job-skill mismatch if they work in the construction industry,” he said.

Finance Secretary Carlos G. Dominguez III advised jobseekers were to explore employment opportunities in Clark.

Calling it a saturation drive, the massive inspection activities came days after the Duterte administration launched the Battle for Manila Bay, an ambitious P47billion, a seven-year rehabilitation program to save Manila Bay. According to Malaya, the rehabilitation of Manila Bay is an order not only by President Duterte, but by the Supreme Court which dates back in December 2008 with the issuance of a writ of continuing mandamus to the agencies led by the Department of Environment and Natural Resources, including the DILG. “Instead of asking for a postponement, the Makabayan bloc should [instead] do their part in helping the government fight the ‘Battle of Manila Bay.’ The administration has exercised the political will to do what is right. Now it’s our turn to do our part,” he said.

They added that the Makabayan Bloc’s rationale for postponement “to undertake first a comprehensive and holistic study and a genuine and democratic program that will sincerely rehabilitate the bay” has already been done by both the DENR and the DILG and it only needs to be implemented.

Banks swamp BSP’s long-term deposit offering

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OCAL banks flocked to the Bangko Sentral ng Pilipinas’s (BSP) long-term deposit offering on Wednesday, but showed little interest in its short- and medium-term counterparts.

Data from the Central Bank on Wednesday showed oversubscription in the BSP’s 28-day term deposit facility (TDF) for this week’s auction, with bids rising to P12.423 billion during the week. This is higher than the total bids of P10.511 billion in the previous week and larger than the P10-billion volume offered by the BSP for the week.

This is in contrast to the volume of tenders in the other two term deposit facilities, with the seven-day TDF registering the largest fall to P11.576 billion for the week. This is below the P20-billion offered for the week and a significant decline, from the P30.155-billion volume of bids in the previous week.

For the 14-day facility, the volume of tenders hit P12.423 billion on Wednesday, falling from the P20.163 billion in the previous week.

It is also below the P20-billion term deposit offer by the BSP on Wednesday.

The TDF is one of the BSP’s liquidity absorption facilities to manage circulation in the economy. As banks bid to park funds in the BSP’s facility, the TDF effectively siphons off a part of this structural liquidity from the financial system to bring market rates closer to the BSP’s main policy rate.

All tenors fetched higher rates on Wednesday, with the 14-day TDF showing the most significant increase to 5.1770 percent, from the previous week’s 5.1437 percent.

The rate for the seven-day TDF hit 5.0654 percent, up from the previous week’s 5.0447 percent, while for the 28-day facility it hit 5.1779 percent from the previous week’s 5.1547 percent.

BSP Deputy Governor Diwa Guinigundo told reporters earlier that bouts of under subscription in certain tenors do not mean tightness in the country’s liquidity condition. Bianca Cuaresma

He said Interior Secretary Eduardo M. Año is set to meet with Metro Manila mayors to discuss ways on how to expedite the social preparation and transfer of squatter residents to in-city and provincial resettlement sites.

“Secretary Año also seeks to mobilize the cooperation of NCR [National Capital Region] mayors in monitoring business establishments and other polluters. The support of our LGUs is crucial in the success of our rehabilitation plan,” said Malaya.

The DILG is urging all local governments around Manila Bay to set a good example to private establishments—residential and commercial ones—on the compliance with the Clean Water Act and Ecological Solid Waste Management Act.

All establishments, particularly those in the Manila Bay area, must ensure that they are connected to sewer lines or have their own sewage treatment plants for proper wastewater disposal, he said.

Malaya also criticized the Makabayan bloc’s claim that the rehabilitation plan will pave the way for the implementation of 40 reclamation projects. “Again this is clearly misinformation. There is no place for reclamation in the rehabilitation program. In fact, Secretary Año is personally opposed to reclamation projects,” he said.

“With everyone’s support, we can cleanup Manila Bay, we can sustain it, and we can preserve the revived Manila Bay for future generations,” he added.

r o r r i M s s e n i s u B A Special Featur

A4

MUNT

Thursday, January 31, 2019 | www.businessmirror.com.ph

MUNTINLUPA CITY MAKES

IMPLEMENTS BEST PRACTICES A

M

AKE no doubt about it.

The City of Muntinlupa has been reaping recognition and praises of late in various fronts—as an everprogressive and highly urbanized local government unit (LGU) led by incumbent Mayor Jaime Fresnedi.

Fostering growth and progress, Muntinlupa City is home to at least 15,400 registered businesses—a record increase in the number of establishments, which has generated significant impact to the LGU’s business-tax collections since 2012.

One such effort is the city government’s strengthening of its JRFP Tulong Negosyo financing program for budding entrepreneurs, which provides assistance by way of zerointerest loans. Through this,

small entrepreneurs can apply for loans from P3,000 up to P150,000.

Now serving more than 6,500 business owners, the program has been the subject of various benchmarking efforts by other cities and municipalities.

On January 9 a financial assistance amounting to P1.5 million was awarded to 92 entrepreneurs belonging to a group called “Batch 96”. In partnership with the LGU Gender and Development Office, they received monetary loans

ranging from as low as P3,000 to a high of P75,000.

As a result of these initiatives and more, no-less than the Philippine Chamber of Commerce and Industry (PCCI) hailed the southern Metro as the “most business-friendly LGU in 2017 and 2018, as manifested by the unbridled growth of businesses and enterprises in consecutive years.”

PCCI Muntinlupa President Elvie Sanchez-Quiazo attributed this development to the current administration’s thrust in promoting innovations to streamline business-application processes, which was reflected in its 2019 business permitrenewal program that took place this month.

Proof of such was the successful campaign of the city government’s Business Permits and Licensing Office for business owners to settle their dues early in the month to avoid penalties and skip “rush days” of registration.

The business group’s local chapter is confident of the administration of Fresnedi as the local chief executive, as he leads the city to greater heights in trade and investments.

Quoting Sanchez-Quiazo:

“Our continued optimism over Mayor Fresnedi’s commitment to bring real change has been credited to the implementation of innovations not only for the business community, but also for all Muntinlupa [City] residents.”

efficient utilization, as well as other resources, to settle all balances.”

Navarro said that, from 2013, the local government had started to pay off all its loans until completion in 2019—more than two years ahead of the original loan-payment schedule.

Certified debt-free

Big on education

MUNTINLUPA City also boasts of its financial strength with the local government officially declaring itself as “debt-free” for 2019. This, as it settled a P2-billion loan contract from the Development Bank of the Philippines and the Land Bank of the Philippines, is yet to be due on September 2021.

According to its books, a total of P1.012 billion in loans and P175 million in interest were incurred in the city’s previous administration, which also involved unsettled obligations for garbage services, gasoline suppliers and terminal fees.

According to Public Information Officer Tez Navarro, the lending banks have certified that, as of January 2019, Muntinlupa City has been cleared of all its loans. She said Fresnedi “has set aside funds annually for the debts, and ensured [their]

THE city government also strives to deliver more far-reaching, yet inclusive, services to its constituents with the expansion of educational assistance to its local students.

A pilot initiative for college students, the Muntinlupa scholarship program (MSP) has offered a more comprehensive bracketing system covering all levels, including those taking up master and doctorate degrees, medicine and law.

The MSP now caters to scholars

in the city numbering to 60,000.

On January 14 the local government hosted the landmark visit of Unicef and Early Childhood Care and Development Council delegates, which expressed its interest to observe and learn from the city’s best practices on early-childhood education.

Early this month the local government also hosted the 20th International Robot Olympiad, which saw the Philippine delegation capture 76 medals, crowned by three golds in humanoid archery, three silvers, 13 bronzes, 35 technical medals and 24 high-commendation awards.

For its best practices in recent years, Muntinlupa City has garnered countless citations and recognitions from local and international organizations, including the Seal of Local Good Governance in 2015 and Most Child-Friendly (National Capital Region) in 2017, among others.

Munti LGU is three-tim

F

OR the third consecutive year, Muntinlupa City earned the Jose Rizal Award from the Department of Health, the highest citation in the agency’s Dugong Bayani Awards.

The DOH lauded Muntinlupa LGU, through Mayor Jaime Fresnedi, for its outstanding blooddonation services in this year’s Dugong Bayani awarding ceremony held at Hotel Rembrandt, Quezon City, on January 25.

The Muntinlupa Blood Council and the City Health Office (CHO) recorded more than 3,600 blood units collected in different mobile blood donation events in the city.

Conferring the award were DOH National Voluntary Blood Services Program (NVBSP) director Dra. Criselda G. Abesamis, Philippine Blood Center (PBC) head donor management officer Dra. Melanie Sionzon and PBC mobile blood donation chief Dr. Pedrito Y. Tagayuma,

and PBC officer Salvador Aydante Jr., RMT.

Also joining the ceremony were CHO consultant Dra. Magdalena Meana, CHO chief Dra. Maria Teresa R. Tuliao and NVBSP medical coordinator Dra. Rowena R. Tan.

The Jose Rizal Award is given to organizations and agencies with a collection of 2,000 blood units and above. The DOH annually recognizes organizations with significant amount of blood unit collections donated to the PBC.

Mayor Jaime Fresnedi vows to continue the local government’s initiative in blood-donation services. Fresnedi actively participates in local mobile blood-donation schedules and is a blood galloner in 2015 and 2016.

The local executive expressed his gratitude to Muntinlupeño blood donors for their unwavering support to the city’s blood-donation programs.

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re

TINLUPA

www.businessmirror.com.ph | Thursday, January 31, 2019

A5

S BIG STRIDES, B

HIGH SCHOOL WINS INTL SUSTAINABILITY PRIZE IN U.A.E.

AS MODEL LGU

ZERO-INTEREST LOAN FOR MUNTI ENTREPS The local government of Muntinlupa City commits to support budding entrepreneurs in the city through a zero-

interest loan assistance program. Muntinlupa Mayor Jaime Fresnedi leads the distribution of the financial assistance to 92 entrepreneurs amounting to P1.5 million on January 9 at Plaza Central, Barangay Poblacion. Batch 96 members receive loan assistance from P3,000 to P75,000 in partnership with the Gender and Development Office. Muntinlupa City is hailed the Most Business-Friendly LGU by the Philippine Chamber of Commerce and Industry for 2017 and 2018.

me DOH-Jose Rizal awardee

THREE-TIME DOH-JOSE RIZAL AWARDEE Muntinlupa Mayor Jaime Fresnedi receives a plaque of appreciation from the Department of Health for its

outstanding blood-donation services in this year’s Dugong Bayani awarding ceremony at Hotel Rembrandt, Quezon City, on January 25. This year is the third time that Muntinlupa City earned the Jose Rizal Award from the DOH, the highest citation conferred to any organization for its blood-donation programs.

WE LOVE PHILIPPINES:

SHARP FOR EVERY JUAN

S

HARP Philippines Corporation, one of the leading electronics manufacturer in the country celebrates together with the Muntinlupeños, the 101th Muntinlupa City Day. For the past 36 years, Sharp has been manufacturing Color Televisions, Washing Machine and Karaoke and has remained strong in the market. These products are proudly Philippine-made and are being manufactured in their Head Office at Alabang, Muntinlupa City. Sharp have already became part of the Filipino life and contrib-

uted to the country’s economy.

Since 1982, Sharp has already produced 3.9 Million units of Color TV, 8.2 Million units of Washing Machine and 2.1 Million units of Karaoke.

With its strong manufac-

turing operations and backed

by Japan Technology, Sharp commits to continuously provide new and exciting locally-made products and contribute to the Philippine economy.

ESTING hundreds of applications from all over the globe, Muntinlupa National High School (MNHS) in the Philippines emerged as the winner of the 2019 Zayed Sustainability Prize in the Global High Schools category. The Zayed Sustainability Prize (ZSP) is one of the biggest international competitions that promotes renewable-energy solutions.

MNHS research teacher and 2016 Metrobank Outstanding Teachers of the Philippines awardee Ma. Regaele Olarte, along with other research proponents, received the award on the opening of the Abu Dhabi Sustainability Week, in Abu Dhabi National Exhibition Centre on January 14.

Gracing the ceremony were His Highness Sheikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates, and ruler of Dubai; and His Highness Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.

Her Excellency Philippine Ambassador to UAE Hjayceelyn Quintana also attended the event and praised the research team from MNHS as the country’s pride.

Other members of the delegation team include Muntinlupa Schools Division Superintendent Dr. Mauro de Gulan, MNHS principal Dr. Rante Marmeto, research teacher Jason Albaro and student-researcher Maria Eliza May Faldas. Mayor Jaime Fresnedi congratulates the research team from MNHS for bringing honor not only to the country, but also especially to Muntinlupa City. The local executive hopes that 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.

The “RevAMP: Revitalized Algae Microfarming” research proposal from MNHS won in the Global High School category for East Asia and Pacific of the international prize. Other finalists in the bracket include Fiordland College in New Zealand, Nabala Secondary School

FILIPINO RESEARCH PROJECT WINS INTERNATIONAL PRIZE A research project from Muntinlupa National High School in the Philippines was adjudged as the winner of the 2019 Zayed Sustainability Prize in the Global High Schools category. The delegation received the award on the opening of the Abu Dhabi Sustainability Week on January 14. Other finalists in the East Asia and Pacific bracket include Fiordland College in New Zealand, Nabala Secondary School in Fiji and Lowanna College in Australia. Shown in the photo are (from left) MNHS student-researcher Maria Eliza May Faldas, MNHS research advisers Ma. Regaele Olarte and Jason Albaro, Her Excellency Philippine Ambassador to UAE Hjayceelyn Quintana, Muntinlupa Schools Division Superintendent Dr. Mauro de Gulan and MNHS principal Dr. Rante Marmeto. in Fiji and Lowanna College in Australia.

The project envisions a scalable local microfarm to produce high-value products from green algae (Chlorella vulgaris). MNHS proposes an efficient algae cultivation with photo-bioreactors for algae products that provide feedstock, and are related to energy, water, food and health. The researchers intend to construct a community hub that will serve as an off-campus research and training facility. The community center aims to cater research and product development of the project. It also serves as a training hub for livelihood.

The team received $100,000 research funding from the UAE government. This is the second time of MNHS to be hailed as finalist in the prize. After being selected as

a finalist last year, the initially proposed comperehensive algae-microfarm project was gradually implemented and the concept was taken to a wider scope.

Established in 2008, the Zayed Future Energy Prize honors the environmental legacy of Sheikh Zayed bin Sultan Al Nahyan, the founding father of the UAE. In April 2018 the prize adapted its focus with a view in affecting greater impact across multiple sustainability sectors. In order to reflect this evolution, it was renamed the Zayed Sustainability prize.

Going beyond just energy solutions, the prize has been aligned more closely with the United Nations Sustainable Development Goals and the UAE national development agenda.

A6 Thursday, January 31, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Fast Internet impacts PHL economic growth

A

FTER the National Telecommunications Commission declared in December the Mindanao Islamic Telephone Co. as the provisional third telco player in the country, Filipinos longing for cheaper and faster Internet connection rejoiced. The celebration, however, turned out to be premature. Mislatel can’t provide fast Internet connection on its own. It needs cell towers to be able to deliver the promised services.

Currently, the Philippines needs an additional 50,000 cell towers to be competitive with neighboring countries in providing quality services to the public, including fast Internet connection. As BusinessMirror columnist Val Villanueva pointed out earlier, the two telco giants—Globe and Smart— have been unfairly blamed for the country’s slow Internet. Villanueva wrote: “Why is it, some wonder, that even with the vast war chest and a gigantic bandwidth at their disposal, Globe and Smart still cannot provide their subscribers with fast Internet connection?”

The lack of cell towers has been identified as one of the barriers to affordable and consistently reliable Internet services in the country. In more than 30 years of operation, Globe and Smart have only been able to build 16,000 cell towers. Most of these aging cell towers are inoperable while undergoing retrofitting. Which is why the Department of Information and Communications Technology is now inviting tower builders and operators to meet the Philippine shortfall of 50,000 cell towers.

Villanueva said the road to providing excellent Internet service has not been easy for Globe and Smart, as they were helpless in dealing with bottlenecks in securing the much-needed government permits to offer quality service to their customers. For example, corruption on the local government level affects the rollout of essential telco infrastructure.

“For the longest time, the two telco giants have to endure the lengthy method of applying for the ridiculous expanse of certifications that the local government units require. Compared with other countries where digital processing takes only a day, it takes at least 24 stages and close to 100 days to secure a construction permit, and the process is bogged down 10 times more by corruption and inefficiency,” Villanueva said.

He added: “Should a telecom firm succeed in getting the right location and securing the approval of its owner, there are still the neighbors in the vicinity to contend with, and the right-of-way problem is often laden with graft.

The nightmare doesn’t stop there. In a perfect world, it takes two years for a single tower to be put up. In the Philippines, constructing a single tower takes an eternity.”

Incoming DICT Secretary Gregorio Honasan II will definitely have his hands full in dealing with the country’s slow Internet connectivity.

We can’t wait to see how this former military officer will face the challenge posed by red tape in our bloated government bureaucracy and how he will speed up the construction of more cell sites to distribute the needed signal to speed up Internet connectivity in the country.

Sadly for Filipinos, we are still in the early stages of the transformations the Internet can unleash and the opportunities it can foster because of our slow Internet connection. If government leaders can recognize the enormous opportunities a fast Internet connection can create for 100 million Filipinos, they must solve our slow connection miseries by allowing more companies to build and deploy cell sites and other facilities that will be leased to telco firms. Fast action is needed if we want to see the impact of fast Internet connection on economic growth. That’s the only way we can prosper as a nation in the 21st century.

Since 2005

BusinessMirror A broader look at today’s business

Take the boat; lose the wife?

John Mangun

OUTSIDE THE BOX

B

ACK in the day, I worked as a department manager in a large men’s clothing store. That was when the cut of your suit and the color of your “power tie” were critical.

The store manager was Bob Zapel.

He was someone you would consider a genuinely nice guy and a professional at his business. Bob also had great hair, which 40 years ago was important to me. Bob came from a fairly rich family so a couple of times a month we went down to the family sailboat with a case of beer. He was a little older than the rest of us and someone we aspired to be like when we “grew up.” Except for one thing.

Bob’s wife Cheryl may have been one of the worst human beings ever put on Earth. Apparently, she had never learned the benefits of professional grooming, like manicures and hair styling. The clothing store had been established in 1928 and

had many branches where procedures were clear. But when Cheryl walked in, employees were told how the clothing displays were all wrong.

You could hear the wife scolding Bob in his office, and “Yes Cheryl but...” over and over.

The point is that if you want Bob’s hair and be able to use Daddy’s yacht, you also have to be married to Cheryl.

A few years ago, all the experts thought the Philippines needed to be like Thailand with much manufacturing, higher economic growth and grazing baby elephants along the sidewalks of Bangkok. But then in 2014, after six months of mass anti-government protests and a failed election, that all changed.

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The Philippines could lower its minimum wage by 40 percent to be more competitive with Vietnam. But the “horrible wife” is this. Things move in Vietnam because they have done away with “annoying” things like a senator challenging a corporation owner about having a “third telco.” In Vietnam, decisions are made by the members of the Central Committee of the Communist Party of Vietnam and through the 19 members of the politburo.

The 2019 Index of Economic Freedom from the Heritage Foundation ranks Vietnam as “Mostly UnFree” at 128 out of 180 countries. The Philippines comes in as “Moderately Free” at No. 70. The Human Freedom Index 2018 from the Fraser Institute ranks Vietnam at 124 out of 162 countries, with the Philippines Freedom Index ranking at 73.

People can leave the spouse, take the boat and sail to exotic islands.

With nations, you have to live with the complete package.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Does China seek to drive US forces out of Asia?

✝ Ambassador Antonio L. Cabangon Chua Publisher

The military dissolved the government. The 2007 constitution was repealed, martial law and a nationwide curfew imposed, politicians were arrested, Internet censored and they took control of the media.

Suddenly, being like Thailand did not seem so attractive anymore.

Now the country that the Philippines should be exactly like is Vietnam. I like Vietnam and the Vietnamese. I have a small piece of a lacquer ware business I bought in the mid-1990s. When you read all the glowing reports about Vietnam’s great economy because of investment, there is one thing that is usually missing.

With the regulations written on paper, it is a place where it is easy to do business. But the only paper that makes it easy is basically green with a picture of a dead American national hero.

According to the 2018 Transparency International “Corruption Perceptions Index,” Vietnam ranks 117 out of 180 countries, with the Philippines at 99. But at least we are going up and Vietnam is not. Maybe the difference is that in the Philippines when you bribe a public official, he stays “bribed.”

T

HIS question brings us to a discussion with Prof. John Joseph Mearsheimer in Peter Navarro’s best-selling book, Crouching Tiger. Recall that Mearsheimer insists that over time, because of the dynamics of great-power politics, China must inevitably seek to be the regional hegemon in Asia as a matter of both self-defense and survival.

An American political scientist and international relations scholar, Mearsheimer is the R. Wendell Harrison Distinguished Service Professor at the University of Chicago.

Our next question, therefore, should be: Just what might China’s strategy looks like over the next several decades to achieve its goals?

The answer, of course, is whether there is any real evidence beyond the speculation of a political scientist to support the provocative assertion that China seeks to drive the US military out of Asia.

The best place to start looking for the real answer is in the actions, thoughts and writings of one of China’s great military folk heroes— Admiral Liu Huaqing.

“Vietnam best knows Admiral Liu,” said Navarro, “as the commander who ordered the slaughter of Vietnamese sailors and soldiers during China’s taking of the Paracel Islands in 1974. In a similarly dark vein, Chinese dissidents first think of Admiral Liu as the commander of the troops responsible for the Tiananmen Square massacre in 1989.”

According to Navarro, “Admiral Liu will likely be best remembered as the father of the modern Chinese navy, who once famously quipped that he would ‘die with his eyes wide open’ if China did not have its own aircraft carrier before he passed away.

“For a figure as important as Liu, he is surprisingly obscure outside of

China. However, during the 1980s, when Deng Xiaoping was famously converting China into a mercantilist global trader, it was Liu, as Deng’s right-hand man, commanding China’s navy.

“At this propitious time of Deng’s economic revolution, China was still primarily a continental power with little perceived need for the global projection of naval power. However, even as Deng was busy opening China to global trade, Admiral Liu was having a parallel vision.

“In this vision, Liu could see very clearly that it would eventually fall upon his own navy to protect the global trading routes Deng was busily building; Liu began working in earnest to forge a navy to rise to that globalized China occasion.”

To Professors James Holmes and Toshi Yoshihara of the US Naval War College, Liu was very much a “Mahanian” figure, referring to “Alfred Thayer Mahan—second president of the college and himself the forefather of the modern American navy—who pioneered the concept of global naval force projection as being critical to the economic prosperity of a nation.”

They emphasized that “in Mahan’s world, it was only through the command of the seas that such prosperity could be assured. Such command, in turn, depended on two key parameters: [1] the industrial

capacity of a nation to produce sufficient merchant ships and naval fleets to access vital trading routes and [2] a system of forward bases that could service both merchant and military vessels.”

Holmes and Yoshihara explained: “While Liu staunchly denied being a follower of the Western imperialist Mahan, his actions have belied his Mahanian intentions. Indeed, it was Liu who first articulated the threestep Mahanian strategy that China appears to be closely following to this day.

“In Liu’s vision,” they said, “the critical first step was for China to break out of what he called the “near seas” and the “First Island Chain” (FIC) that runs from the northern tip of the Kuril Islands, down through the home islands of Japan, all the way to the southern tip of Japan’s Okinawan territories.

“As the centerpiece and rough center point of the FIC, the line defining this chain next passes through Taiwan and then across the Luzon Strait to the Philippines and down to Malaysian Borneo.

“The FIC metaphor though is just that: there are no real chains strung across the waters of the East and South China Seas,” the book said.

To reach the writer, e-mail cecilio.arillo @gmail.com.

Opinion BusinessMirror

www.businessmirror.com.ph

ILO’s dilemma: Shaping the social contract for the 21st century Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

T

HE importance of establishing the ILO was made more urgent by the wave of strikes that hit a number of European countries toward the end of World War I, and the fear among the governments of these countries that the 1917 Bolshevik Revolution in Russia would be repeated in other parts of Europe if no social and labor reforms were instituted. Thus, a moderate American labor leader, Samuel Gompers, was given the task of drafting the ILO Constitution. Another American, the oil magnate John Rockefeller (and his foundation), also became one of the major ILO funders.

Not surprisingly, the system of tripartism involving the tripartite social partners—the government, industry and organized labor—became the guiding principle in the operations of the ILO. Most of the work of the ILO revolved around tripartite consultations and deliberations on major social and labor issues in an industrial setting. The most significant outcomes from these tripartite meetings and conferences are the International Labor Conventions and Recommendations that set the global labor standards on workplace issues, such as hours of work, wages, social security, health and safety, and so on. To date, there are around 189 Labor Conventions and over 200 Recommendations. Considered as the most important Conventions are ILO Conventions 87 and 98, which deal with the freedom of workers to form unions and their right to bargain collectively.

Establishing these international labor standards has not been easy given the opposing interests of employers and the trade unions. Ratification by memberstates of each Convention usually takes years. Compliance by ILO member-states with the Conventions and Recommendations is also uneven. In fact, one of the most difficult tasks of the ILO Office in Geneva is how to monitor compliance by the government and industry with the various labor standards. Militant unions such as the Kilusang Mayo Uno routinely file complaints of the government violations of workers’ rights with the ILO Committee on Freedom of Association.

Incidentally, the ILO has no police power. But it enjoys lots of persuasive and moral power. Its findings on labor rights violations naturally embarrass the concerned member-state and even tend to isolate the said State in the eyes of the international community. Because of this, the ILO has helped deepen the democratization process in some military and authoritarian states, as what happened in Myanmar when Aung San Suu Kyi was still kept in house arrest and no unions were allowed to operate.

In 1969 the ILO received the Nobel Peace Prize. It was a well-received award. Through its labor standard setting work and promotion of tripartitebased industrial democracy, the ILO was undoubtedly a major stabilizing and humanizing factor in the world after World War II. The winning Allied forces (virtually the same winners in World War I) reaffirmed the pivotal role of the ILO in building a peaceful world order. But it did more. The ILO Conference held in Philadelphia in 1944 issued a remarkably bold declaration containing the following fundamental principles: a) labor is not a commodity, b) freedom of association and expression is essential to sustained social progress, c) poverty anywhere constitutes a danger to prosperity everywhere, and d) solving labor problems requires concerted national and international dialogue and decision-making among representatives of workers, employers and the government.

The above principles, the system of tripartism and the various ILO standards were embraced and adopted by countries of Western Europe, North America, Australia-New Zealand and Japan. These blended with the ideology of welfare capitalism espoused by these countries, which had to compete in the global arena against the Soviet bloc in Eastern Europe. All these became part of the post-war social contract, an unwritten

social contract that recognizes the rights of the three parties and the importance of sharing prosperity through collective bargaining and tripartite agreements.

A number of developing countries, which became independent after World War II, joined the ILO and adopted the system of tripartism as the guiding governance principle in the small but modern sector of their economy. Noting the economic dualism obtaining in these countries, the ILO became developmental in the 1970s. It introduced the concept of basic needs analysis in economic planning for developing countries, organized employment missions in select countries, and even theorized and popularized the concept of the “informal sector” (which was then absent in economic modeling of the West). It also launched in the mid-1970s, with the late Labor Secretary Blas F. Ople presiding in an ILO Conference, Conventions on the rights of agricultural workers.

There are, however, ups and downs and zig-zags too in the history of ILO. It sort of hibernated in the period before World War II. In the mid-1970s, the United States withdrew its membership and did not rejoin the international labor body until the 1980s. One dividing issue then was political: the participation of the Palestinian Liberation Organization in ILO affairs, an issue that also divided the Philippine labor movement, which sided with the United States in voting against the PLO. But the biggest problem that confronted the ILO was the globalization of the world economy from the 1980s onward. Thomas Kochan of MIT, the founding leader of the International Labor and Employment Relations, has been lamenting the steady collapse of the post-war social contract that provided so much stability to Western society and even in a number of developing countries. The international subcontracting of work has weakened unions in the developed countries; on the other hand, the movement of foreign capital in union-free industrial enclaves in developing countries has not been favorable either to the unions in these countries. Globalization has been fueling a race to the bottom virtually everywhere, as evidenced by the decline of unionism everywhere and the rise of precarious hiring system despite the advocacy program on decent work launched in the early 2000s by the Chilean ILO DG, Juan Somavia.

The situation today is complicated further by the never-ending digital and technology revolution. How can the ideology of tripartism, which was developed to tame the excesses of industrial capitalism under the Second Industrial Revolution of mass production, apply in the era of globalization and Fourth Industrial Revolution? The labor market in almost all countries today is uneven and segmented. Those who sit in tripartite bodies do not necessarily represent the majority of workers and even of the employers. The large number of informal workers, who have their own social and economic concerns, are not given a seat. And the spread of precarious work means the erosion of safety nets for workers in both developed and developing countries.

Clearly, the world needs a new social contract, a social contract for a postindustrial world. Will the ILO be able to sort this out for its next century?

(More in the next issue on what should go into the social contract for the 21st century.)

Truth rejected in unbelief Msgr. Sabino A. Vengco Jr.

ALÁLAONG BAGÁ

I

N connection with last week’s Spirit-filled appearance of Jesus in Nazareth, this Sunday’s gospel account (Luke 4:21-30) gives the initial reaction of amazement by His audience, which ended in violent rejection of Jesus’ stand on the universal character of His mission.

The ‘Kababayan’ of Jesus LISTENING to Him, the people of Nazareth were amazed at His gracious words and were all praise of Him. They observed, “Is this not the son of Joseph? Is this not one of us?”

They were not scorning Him for being a son of Joseph, but rather they were laying a claim on His favors. Their expectation was that Jesus should do in Nazareth the wonderful things they have heard Him do elsewhere.

He must now show preference to His own people. In His unexpected greatness they expected Him to be one of them still and for them.

Here the otherness of Jesus, the Spirit in Him, comes out. Citing the old adage: “Physician cure yourself,” Jesus was aware of the people’s thinking that one should take care of oneself first—as the meaning of “Charity begins at home,” and that

His townspeople collectively as His extension deserve to benefit from his power. “Do here in your native place the things that we heard were done in Capernaum.” Theirs is an arrogant presumptuousness and intolerant nationalism nursed by their history of threatened existence from the outside.

A prophet rejected

SOLEMNLY and to the point, Jesus countered with a similarly wellknown maxim: “No prophet is accepted in his own native place.”

Herewith, without hesitation, Jesus exposes the basic difference between himself and his kababayan. There are surely things of the people a prophet as bearer of God’s truth cannot tolerate, just as there will definitely be teachings by a prophet the people may not find

Thursday, January 31, 2019 A7

bearable either. Precisely one such fundamental issue pertains to the intended beneficiaries of the mission of Jesus. The narrow nationalism and arrogance of his fellow Jews go contrary to the universal saving love of God and to the imperative of faith.

Jesus dared to remind His listeners of the two cases of the gentile widow in Zarephath in the land of Sidon (1 Kings 17:7-16) and of the leprous Naaman the Syrian (2 Kings 5:1-19). These two pagans, because of their living faith, were singled out for the compassion of God by Elijah and Elisha. Jesus is here publicly asserting the universality of His mission in accord with the universal love of God, and rejecting the brazen call to the narrow self-interest of His people. And He challenges them to examine themselves if they really are believers and are truly better than the gentiles. And the people reacted with fury. Rejecting the truth He presented to them, they rejected Jesus and wanted to finish Him off physically. A head-on collision between two opposite values, and the violent response against Jesus in Nazareth foreshadowing what would go full-blown on Calvary.

Alálaong bagá, rejecting Jesus means rejecting salvation, and for this reason Jesus would later be portrayed weeping for His people (Luke 19:41-44). He walked right

on through the midst of His violent town-mates and went away to bring His message of salvation elsewhere.

He did not bring His Gospel elsewhere because they rejected Him, rather they rejected Him because His good news is for everyone everywhere and because he dared compare them unfavorably for their lack of true faith with the gentiles. Jesus would not let any hostage-taking of God’s saving plan; He could not be stopped from doing His Father’s will—not by the people’s narrowmindedness nor by their hostile reactions.

The gospel narration intimates that what happened in Nazareth is what is happening to the Church today or in various places at any time.

It is a confrontation of values, the contradiction between self-interests and God’s universal love, as well as the difference between truly living as God’s children and being so just in name. The ministry of the Church in the Philippines will always be in the context of the indifference or opposition of those who do not really believe, and of the violent rejection by those whose agenda are derailed by the bold proclamation of the Gospel.

In fearless determination we must go right on; we all must learn still how to be “catholic.”

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

The oil shock that never was: How shortage warnings missed mark

By Grant Smith | Bloomberg Opinion

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months later it was ringing “alarm bells” for a coming crisis. Total SA Chief Executive Officer Patrick Pouyanne foresaw a shortfall of as much as 10 million barrels a day, about the volume Saudi Arabia was pumping at the time. The concerns were echoed across the industry, from Royal Dutch Shell Plc executives to hedge fund veteran Andy Hall.

Instead, supply has turned out to be plentiful. The US is estimated to produce about 12 million barrels a day of crude this year, a level it was earlier forecast to reach only in 2042.

Russia has raised output to a record and Iraq’s is near unprecedented levels. Brazil is set to pump at the fastest pace in at least 15 years in 2019, according to the IEA. Bank of America Corp. estimates three-quarters of non-shale projects over the next five years will be profitable at just $40 oil, bringing new crude from the North Sea to Guyana even if prices stay low. These have kept benchmark Brent near $60 a barrel, despite a brief surge to a four-year high above $86 in October as American President Donald J. Trump’s sanctions against Iranian exports threatened to disrupt the market.

into the future.

The world still needs to add another 10 million barrels a day of production capacity—effectively another Saudi Arabia—by the first part of the next decade, and investment in the industry outside shale isn’t sufficient to ensure this, IEA Executive Director Fatih Birol said in Davos, Switzerland, on January 22. Opec officials regularly say their current policy is aimed at encouraging enough investment to prevent a supply crunch.

Risks such as the US sanctions on Venezuela and Iran still remain. But as America’s shale surge continues, and oil majors squeeze costs and deploy new technologies, the dangers of a prolonged shortfall are abating.

Though the shale boom has recently shown signs of slowing, the US government forecasts that crude production will continue to hit new records into the next decade, turning a country once reliant on imports into an exporter to rival many Opec members. Consultant Rystad Energy AS projects that the US will be producing more oil than Saudi Arabia and Russia combined by 2025.

“The shale story is a story of the triumph of technology, and all the signs are that that process will continue,” said Paul Stevens, a fellow at the Chatham House think tank in London. “History suggests you don’t turn that back. It may continue at a slower rate than before, but you don’t tend to reverse it.’’

Pushed back

Reset costs

HREE years ago, influential figures in the oil industry were sounding a clear warning: prices were too low, investment was collapsing and by the end of the decade the world would face a shortage.

In reality, the market today is looking at several more years of plenty, so much so that Organization of the Petroleum Exporting Countries is beginning its third year of production cuts just to prevent a surplus.

“We’re in an age of abundance,” said Ed Morse, head of commodities research at Citigroup Inc. in New York. “A supply crunch is not likely at all.”

So what happened?

OIL’S biggest slump in a generation earlier this decade forced companies to slash spending, leading to a flurry of warnings that there wouldn’t be enough growth in oil supplies to meet rising demand and also offset production lost from aging fields.

Investment in oil and gas production collapsed by about $350 billion, or more than 40 percent, from 2014 to 2016—the sharpest contraction since the 1980s—after crude fell from over $120 a barrel to less than $30, according to the International Energy Agency (IEA). The number of new projects approved in 2017 dwindled to the lowest in 70 years, the Paris-based agency said.

‘Alarm bells’

IN November 2015 the IEA cautioned that supply growth outside Opec would grind to a halt by 2020. Three

FORECASTS of a supply gap persist, but they’re being pushed further out

THE expansion isn’t limited to shale.

Oil’s crash forced companies to trim

To have less graft, allow more freedom

By Leonid Bershidsky Bloomberg Opinion

T

RANSPARENCY International, the Berlin-based global authority on graft, accompanied its Corruption Perceptions Index for 2018 with a warning that corruption gains where authoritarian and populist leaders erode democratic institutions. A comparison of Transparency’s data with studies by Freedom House, which scores countries on the state of democracy and liberty, reveals a more complex story but leads to the same conclusion.

Putting the two organizations’ country scores side by side shows that the two metrics track pretty closely. Both have a 100-point scale; for Transparency, 100 means absolutely clean, and for Freedom House, 100 is a perfect democracy with

absolute respect for civil rights. In the five years between 2014 and 2018, the correlation between the two scores was stable, and high, at 0.71 to 0.72.

The recently published 2019 Edelman Trust Barometer shows that throughout the world, only a small minority of both the general public and the most informed individuals believes “the system,” their societies’ institutions, works for them; a far bigger percentage say the establishment is failing them. The high correlation between the Freedom House and Transparency scores is evidence, however, that people clearly feel “the system” is less corrupt in countries with a stronger democracy.

In some cases, there is also a high correlation between countries’ evolution on both scales—democracy and corruption perceptions—over time. Hungary,

for example, has followed a regrettable trajectory of slow decline in democracy and increase in perceived corruption (correlation 0.88).

Brazil has been going down the same path, but more slowly (correlation 0.83).

Turkey (correlation 0.7) and Zimbabwe (correlation 0.87) are two more examples of shrinking freedoms leading to higher corruption perceptions.

And, under President Donald J. Trump, the US is showing a higher correlation, 0.55, than might be expected, as its democracy index falters.

This may not mean the US is actually becoming more corrupt. Trump’s promises to do away with elite corruption and “drain the swamp,” and his opponents’ belief that Trump himself is corrupt probably have drawn so much attention to the issue that everybody

excesses, become more efficient and reset industry costs. So, while they were cutting expenditure, most were also learning how to keep the production taps open at far lower prices.

That’s resulted in costs in the deep-water Gulf of Mexico and Brazil falling by 50 percent as they make use of previously built infrastructure and deploy new technology like robotics, according to Citigroup’s Morse.

Norway’s Equinor ASA has reduced the break-even price of its portfolio of new projects to $21 a barrel, a figure that was closer to $70 in 2013.

BP Plc last year started output from a Gulf of Mexico project after spending 15 percent below its budget, and is working on a $9 billion expansion of its Mad Dog project, having more than halved the original cost.

Cost deflation

“THE view that there’s been inadequate spending is based on an assumption about cost structures,” said Morse. “Costs continue to deflate, not increase, and they deflate everywhere.”

There are even signs of a revival in spending, which would only boost production further. Capital expenditure in shale is set to increase by 20 percent this year, the IEA’s Birol said.

“There is no sign of a shortage so far,” said Amy Mayers Jaffe, a senior fellow at the Council on Foreign Relations in New York. “People who believe there have to be higher oil prices in the future, like Opec or Saudi Arabia, still suggest that the supply gap is still three years away. It is continuously three years in the future.”

has an opinion about it. In this case, perceptions, at least for now, are getting ahead of reality and signaling a strong desire for change rather than a sorry state of affairs.

Besides the failures, the data point to some success stories, including a few surprising ones. My favorite is Belarus (correlation 0.97), where the dictator Alexander Lukashenko has been gradually softening his regime since Russia invaded Ukraine: For him, being in Russia’s orbit is losing its luster and cooperation with the West looks increasingly appealing. As the screws of the repressive state are loosened, Belarussians perceive less corruption.

Other, though weaker examples of progress on both fronts include Pakistan (correlation 0.69) and Kosovo (correlation 0.65).

2nd Front Page BusinessMirror

A8 Thursday, January 31, 2019

House thumbs down Senate plan to stick to 2018 budget

A

By Butch Fernandez @butchfBM & Jovee Marie N. dela Cruz @joveemarie

MID allegations that the proposed 2019 General Appropriations Act contained pork barrel “insertions,” the leadership of the House of Representatives on Wednesday opposed the proposal of the Senate to stick to a reenacted 2018 budget.

House Committee on Appropriations Chairman Rolando G. Andaya Jr. urged the Senate not to abandon the ongoing bicameral conference committee hearing on the P3.757trillion national budget.

“It is a matter internal to the Senate. But on the part of the House,

GSIS: Lower retirement age will cut fund life

T

HE Government Service Insurance System (GSIS) on Wednesday warned that its pension fund life could be shortened by 12 years if the proposed reduction in the mandatory retirement age of government employees is cut to 56.

GSIS Chief Legal Counsel Isagani L. Cruz Jr. told reporters that its pension fund’s life is good until 2051, but this could last only until 2039 if measures to reduce the retirement age to 56 are enacted.

“In more realistic terms, if the optional retirement age is reduced from 60 to 56 or 55, the fund life will be reduced from 2051 as expected now, to 2039 or 12 years.

Additionally, in money terms, to sustain the fund life, we will need an additional reserve requirement of P176.36 billion,” Cruz said during the 2019 GSIS plans and programs news briefing held in Pasay City.

In December 2018, the House of Representatives approved House Bill 8683. The bill, which would amend the Government Service Insurance Act of 1997, or Republic Act 8291, was authored by Rep. Antonio L. Tinio.

Under the bill, government workers aged 56 may file for retirement and be entitled to old-age pension for life from the GSIS. “Money could be infused into the pension fund to mitigate the adverse impact of the reduction of retirement age. Other options are to increase the contribution rate or to reduce benefits, if only to sustain the fund’s life,” Cruz said.

“In the absence of these alternatives, we’ll just have to bite the bullet and the face the reduction in the fund life, and expect the fund to deplete 12 years earlier,” he added.

GSIS President and General Manager Jesus Clint O. Aranas said the matter could be viewed “introspectively” and that new rules could apply to new members.

“The only viable option we see to reconcile the intent of the legislature vis-à-vis our fund life, is really to do this prospectively, for the new entrants they can have this package. But the old pensioners should not be made to suffer the challenges, because as studies would show, it will reduce the fund life of GSIS, and it destroys and erodes job security,” Aranas said. Rea Cu

our position remains unchanged: We want a new budget. We are against a reenacted one,” he said.

According to Andaya, the failure of 22 senators to itemize their insertions has stalled the passage of the 2019 national budget.

“So far, senators’ amendments

are all in general terms, shall we say lump sums. So we have to get the details of their amendments,” he said.

“Long before senators called for transparency, we have unilaterally announced that we are ready and willing to disclose and justify our amendments to the national budget,” Andaya added.

‘Withdrawal’ proposed

ANDAYA issued the statement after Senate President Vicente C. Sotto III proposed the “withdrawal” of the 2019 budget bill. “I am proposing that considering that there are so many allegations concerning insertions, pork barrel and institutional amendments.”

Sotto added he saw little chance that the Senate and the House panels tasked to reconcile conflicting

provisions in the two chambers’ version of the 2019 budget bill could reach an accord on the final annual money measure that Congress is expected to submit to President Duterte for signing into law.

“I don’t seem to see that there is going to be an agreement,” Sotto told reporters. “And if the allegations are serious, then it’s better that we just withdraw.”

The Senate President said he will propose to Sen. Loren B. Legarda, who chairs the Senate’s Finance Committee, “that we withdraw the Senate’s version of the bill and that we will have to stay with a reenacted budget for 2019.”

Sotto believes that taking such a firm stand will erase all negative allegations surrounding congressional action on the budget bill, See “Budget,” A2

AFP checks out ‘foreign suicide bomber’ angle in Sulu explosions

By Rene Acosta

@reneacostaBM

& Claudeth Mocon-Ciriaco Correspondent

D

EFENSE Secretary Delfin N. Lorenzana said on Wednesday that the second explosion from the twin blasts in Sulu at a Catholic church on Sunday could have been a suicide bombing perpetrated by a foreigner, echoing an angle raised by President Duterte on Tuesday.

He, however, said that this angle has to be thoroughly validated, primarily by identifying the mangled body from the site of the second explosion.

“We have to find out the nationality. There is no martyred ASG yet, there is no Filipino who is a suicide bomber yet,” Lorenzana said during a news briefing on Wednesday.

President Duterte said that the twin bombings that hit the Jolo cathedral were perpetrated by a couple, an information that the military is yet to confirm.

Lorenzana said, however, that he had also heard reports, especially coming from intelligence sources in the region, that the bombings were

PhilMaize. . .

Continued from A1

“The anomalous approval is an outrageous act, a mortal sin and an act of treason to the farming and fishery sector, which [LandBank]’s mandate emanates,” Navarro said in the letter, which was sent to Duterte and other government officials on January 17.

“We must take a closer look on whether [LandBank] granted in haste and on whether they have even granted 50 percent of its loan portfolio to agriculture their foremost beneficiary,” he added.

Navarro said the concerned government officials have not responded to their letter as of press time.

He said PhilMaize was “confused, frustrated and offended” by LandBank’s decision to extend a loan of $85 million to Hanjin, particularly since the bank has yet to act on his group’s proposal for the rice corn blend project (RCB), which it is undertaking with the government.

“We understand that you, Mr. President, have an outstanding order to any government official, office/agency to act immediately on any letter and/or request within seven days or face dereliction of duty. Until today, since we submitted our proposal for almost one year now, we are not in receipt of any courtesy reply letter

perpetrated by a Yemeni couple.

“This is according to some reports from outside, I also received it.... They are Yemeni couple,” he said, emphasizing that all those reports have to be validated.

The Islamic State has claimed responsibility over the bombings, saying they were carried out by its two suicide bombers, but the military maintained the Ajangajang group of the Abu Sayyaf was behind it.

Last year, a powerful explosion rocked Lamitan City in Basilan, an attack perpetrated by a suicide bomber believed to be a Moroccan, but Lorenzana said the body has not been recovered from blast.

Despite the bombings in Sulu and the grenade explosion at a mosque in Zamboanga City on Wednesday that killed two people and wounded three others, Lorenzana is not going to recommend the postponement of the second phase of the plebiscite for the Bangsamoro Organic Law (BOL).

“These places are far from Lanao del Norte, North Cotabato. We are not seeing any problem there in connection with the BOL, we don’t see any problem there,” Lorenzana said.

from [LandBank], very unfortunate from a bank that has an ISO status,” the letter read.

“The granting of Hanjin’s loan is a total display of misplaced priority misguided by the overwhelming desire for profit over the development of agriculture in the country,” it added.

PhilMaize is seeking to avail itself of at least a loan of P1 billion from LandBank to finance the construction of two cornprocessing centers. Part of the amount will be used as the project’s working capital. The proposal was submitted to LandBank President Alex Buenaventura on March 2, 2018.

Navarro said the $85-million loan extended by LandBank to Hanjin is “more than enough” to cover the Department of Agriculture’s target of selling 500,000 metric tons (MT) of RCB products in the market. “The whole target of [Agriculture] Secretary Emmanuel F. Piñol is about 500,000 MT, which would cost $70 million,” he added.

The RCB project is a public-private partnership project that seeks to sell more nutritious products in the market and cut the country’s dependency on rice imports. President Duterte led the launching of the project on December 21, 2017, in Davao City.

“It would end the country’s rice-supply shortfall with the infusion in 2019 of about 500,000 MT of corn grits and

Deployment in Baclaran

MEANWHILE, an additional 50 policemen of the Southern Police Disrict were deployed at Baclaran Church in Parañaque City on Wednesday to ensure the safety of churchgoers following a series of terror attacks in some parts of Mindanao.

Police Senior Insp. Joseph Dionaldo, supervisor of “Oplan Buhos sa Baclaran,” said the policemen will secure the church perimeter while the security guards will be tasked to check the bags of those going inside the church.

Dionaldo said that a bomb squad, Special Weapons and Tactics, and K-9 units will also be deployed in the area.

It may be noted that Wednesday is known as Baclaran Day, when hundreds of faithful visit “Our Mother of Perpetual Help” to pray for healing and blessings.

Dionaldo said that the policemen will continue to secure the place after the National Capital Regional Police Office Director Guillermo Eleazar declared Metro Manila under full alert status.

A mosque in Zamboanga City was attacked before dawn on Wednesday, killing two persons and injuring four others.

1 million MT in 2020, thus effectively achieving food-staple sufficiency for only the second time in the history of the country,” Piñol said.

LandBank ready for dialogue

SOUGHT for comment, LandBank First Vice President and Head of Corporate Affairs Catherine Villanueva told the BusinessMirror that they have already touched base with the office of Navarro and are waiting for confirmation for a scheduled meeting on the issue.

“LandBank is exerting all efforts to reach out to Mr. Navarro and his office to discuss about the issue. We would also like to extend our apology for any inconvenience,”Villanueva said in a phone interview.

She said they are open to sit down for a dialogue with PhilMaize and try come up with a resolution on the matter.

Just last year, Duterte directed LandBank to provide more loans to the agriculture sector, particularly to farmers needing funding to increase production levels and income.

LandBank is a state-owned universal bank with a primary mandate of promoting financial access to the countryside. As of end-2018, the bank has 395 branches, 44 lending centers and 1969 automated teller machines nationwide. Jasper Emmanuel Y. Arcalas,

Bianca Cuaresma

www.businessmirror.com.ph

PAG-IBIG FUND’S NET INCOME RISES 9.5% TO P33.17B in 2018

By Rea Cu

@ReaCuBM

T

HE Home Development Mutual Fund (Pag-IBIG Fund) has reported a net income of P33.17 billion for 2018, an increase of 9.5 percent compared to the 2017 level of P30.27 billion.

The good news was shared at the Pag-IBIG Fund’s 2018 Chairman’s Report on Wednesday at the Philippine International Convention Center (PICC), by fund Chairman Eduardo D. del Rosario.

He said the net income for 2018 is the highest level recorded for the agency, with the increase being attributed to operational efficiencies.

“But while our gross income was lower than last year, still we achieved our highest level of net income in 2018.... Such increase in our net income is attributable to our operational efficiencies,” he added.

The gross income of the agency recorded a decline of 9.4 percent for the year, at P48.92 billion coming from P54.02 billion in 2017.

This was attributed to the revaluation done in 2017 for its real and other properties acquired worth P6.06 billion.

The recorded increase in net income, del Rosario pointed out, will enable Pag-IBIG Fund to provide dividends to its members amounting to P28.23 billion at a dividend rate of 6.91 percent for regular Pag-IBIG savings and 7.41 percent for the Modified Pag-IBIG II program.

Member savings for the year also reported an increase of 11 percent, or P40.27 billion coming from P36.27 billion in 2017.

The number of home loan borrowers for the agency also rose

“But while our gross income was lower than last year, still we achieved our highest level of net income in 2018.... Such increase in our net income is attributable to our operational efficiencies.“—del Rosario 12 percent, reaching 90,375 from 80,964 in 2017.

This led the Fund to report its highest income loan takeout for the year of P75.31 billion, increasing by 16 percent compared to the 2017 level of P65.1 billion.

Total assets of the Pag-IBIG Fund for 2018 amounted to P533.45 billion, an increase of 9 percent compared to P488.74 billion in 2017.

“As early as May 2018, we already breached the P500-billion asset level,” he said.

He said the Pag-IBIG Fund was included in the 2017 list of the top 10 government corporations based on gross and net income, with the agency taking the eighth spot for gross income, and ranking second in terms of net income.

“When it’s analyzed, we can see that Pag-IBIG is No. 1 in terms of profit margin ratio at 56 percent for 2017, while for 2018 we inched up further from 56 percent to 64 percent,” he added.

The agency was also reported to have a 96-percent customer satisfaction rating based on a thirdparty survey conducted by Market Relevance Corp. for September to October 2018.

“We at Pag-IBIG Fund make extraordinary things seem ordinary,” said the Fund’s CEO Acmad Rizaldy P. Moti.

Privatization Mgt Office remits ₧1.8B to Treasury

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HE Department of Finance’s (DOF) Privatization Management Office (PMO) remitted P1.802 billion to the national coffers for 2018, which breached its annual goal of P659 million for the year.

In a statement issued on Wednesday, the DOF said that the PMO’s 2018 remittance is 215 percent more than the P571.87 million it remitted in 2017.

In a report submitted to Finance Secretary Carlos G. Dominguez III, the PMO said it expected to collect a total of P732 million for the year under the 2018 National Expenditure Program, but was pointed out to have collected more at P1.957 billion.

The PMO, which is under the supervision of Finance Undersecretary Karen G. Singson, collected P1.36 billion in 2018 from the privatization of state assets, another P 131.33 million from leases and P465.86 million more from other activities, such as collections from cash dividends and outstanding obligations.

Chief Privatization Officer Gerard L. Chan reported at a recent DOF Executive Committee meeting that the bulk of the PMO’s collections from privatization came from the sale of real estate in Makati City and the province of Batangas, amounting to P1.272 billion combined.

Aside from the PMO, the DOF’s Corporate Affairs Group (CAG) under Finance Undersecretary Antonette C. Tionko also overperformed in 2018, with a collection

of P40.17 billion from governmentowned and -controlled corporations (GOCCs) for remittance to the Bureau of Treasury (BTr).

This was an increase of 32 percent compared to the collections from GOCCs in 2017 of P30.46 billion.

The dividends remitted by GOCCs in 2018 represented the highest amount ever collected since the enactment in 1994 of the law requiring state firms to hand over 50 percent of their annual net earnings to the national government.

Including Land Bank of the Philippines (LandBank), which should have contributed P7.82 billion, the amount of GOCC dividends amounted to P47.99 billion for 2018.

The LandBank was allowed to waive its dividend contributions to boost its capital requirements, which brought the amount remitted to the BTr at P40.17 billion.

Dom i ng uez desc r ibed t he amount remitted by GOCCs for 2018 as “unprecedented,” and credited Tionko’s team with “instilling fiscal discipline among the GOCCs since the Duterte administration took over in 2016.”

Covering the period from July 2016 to December 2018, the total cash dividend collections under the Duterte administration now amount to P70.9 billion, according to the DOF-CAG. A total of 55 GOCCs remitted to the National Treasury as of December 2018, with the Philippine Deposit Insurance Corp. emerging as the year’s top dividend contributor with a total remittance of P8.844 billion. Rea Cu

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, January 31, 2019

B1

Oil giant to invest $1B in PHL’s LNG project I

By Elijah Felice E. Rosales

@alyasjah

NDONESIA’S second-largest crude oil producer is planning to invest $1 billion, as it expressed interest in the development of liquefied natural gas (LNG) in the Philippines.

PT Pertamina said it intends to put up a $1-billion regasification hub in the country. It is eyeing to offer its integrated LNG solutions by investing in a floating storage

regasification unit or land-based LNG regasification to provide supply at a competitive price.

In his dialogue with PT Pertamina officials, Trade Secretary Ramon M.

Lopez vowed the government would assist potential investors in the LNG industry.

“The Philippines is very much open to LNG investors. We will assist and work with them in looking for trusted partners until they begin their operations,” Lopez said in a news release.

Corporate Marketing Director Basuki Trikora Putra said PT Pertamina is determined to pour in capital and play a role in the development of the growing local LNG industry.

“Having a long experience as one of the world leading LNG global players, we would like to share the same experience in the

Philippines. We are really keen to invest in the [country],” Putra added.

PT Pertamina, a governmentowned national energy firm of Indonesia, operates six refineries that have a combined daily capacity of 1 million barrels of crude oil.

Officials of the Indonesian gas producer are also scheduled to meet with the Board of Investments, Department of Energy and Energy Regulatory Commission to align the investment plan with the government’s policies on energy.

The dialogue with Lopez was the first visit of PT Pertamina in the country.

CPG to issue ₧3B in unsecured bonds

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HE boa rd of proper t y developer Century Property Group Inc. (CPG) on Wednesday approved the issuance of P3 billion in unsecured fixedrate peso retail bond.

The company said it would file a registration statement along with the prospectus with the Securities and Exchange Commission for the issuance.

CPG earlier said it is making significant headway in its expansion and diversification plans as it in-

creased revenues by 45 percent to P7.5 billion during the nine months of 2018 ending in September compared with P5.1 billion for the same period in 2017.

It posted a net income of P661 million in the same period, a 23-percent increase from the previous year’s P539 million, already exceeding the 2017 full-year net income of P650 million.

The company said its thrust to diversify to other allied segments of real estate have started to change

the company’s revenue profile, as its affordable housing business now contributes 10 percent of CPG’s gross revenues while the aggregate contribution of leasing and property management is about 8 percent.

“CPG is well positioned to significantly grow the new business segments with investment properties for lease already taking up about 20 percent of the total assets and the upcoming launch of 15 affordable housing projects with 33,000 units within the next five years,” it said.

Gambling chief: Duterte’s ban clouds PHL’s casino push

T

HE Philippines’s gaming chief said she will ask President Duterte to relax a ban on new casino licenses as the nation risks losing out on a gaming boom for which its Asian neighbors are lining up.

A moratorium on new casino licenses that took effect in January 2018 could drive away gaming investments, Andrea Domingo, the head of the state gaming regulator, said in an interview on Tuesday in Manila. She hoped Duterte could be persuaded to implement a selective

ban when she meets the president as early as this week.

“Gaming seems to be the sunrise industry now in Asia,” Domingo said.

“There are still areas in the Philippines that can still absorb and benefit from these investments, which won’t go here with the current ban.”

Domingo’s efforts are aimed at ensuring the nation has a shot at becoming a regional gaming hub despite Duterte’s decision to halt new casino approvals. While the Philippines has shut its doors, others such

as Japan, Vietnam, Cambodia and Myanmar have been aggressively raising their game.

“It’s better to be discerning in giving new licenses rather than a complete ban,” said Rick Santos, chairman at real-estate consultant Santos Knight Frank.

Domingo sees casinos as a tourism magnet and recommends banning them in areas not accessible for foreign travelers since that would encourage the locals to gamble. Bloomberg News

Mislatel franchise elevated to plenary, faces further scrutiny

By Butch Fernandez @butchfBM

A

NTICIPATING “protracted legal proceedings,” Sen. Grace Poe moved to elevate the pending franchise application of China-linked Mindanao Islamic Telephone Inc. (Mislatel)—the third telco billed to break up the Smart-Globe duopoly—for plenary decision.

Poe, sitting as chairman of the Senate Committee on Public Services tasked to review franchise applications, confirmed that a House resolution formalizing the sale of the controlling interest of Mislatel to Davao-based businessman Dennis A. Uy has been “moved to the Senate plenary, allowing senators to extensively discuss the issues surrounding the validity of Mislatel’s franchise.”

After presiding over the Public Services Committee hearing on Mislatel’s bid to be granted the franchise as the third telcoservice provider, House Concurrent Resolution 23 on Mislatel’s franchise application will now be taken up in plenary to “allow every member [of the Senate] to debate on the issue and pave the way for

the measure to be put to a vote.”

Poe said “there are several opinions regarding this. Some legal minds are saying that the Senate can actually cure it by granting the franchise or by accepting the franchise as valid, so I will have to consult the members of the public services committee and let them weigh in on that particular opinion.”

Poe issued the statement after the fourth and final hearing of the public services committee on the third telco application. She noted that the franchise of Mislatel is the only entity that has a legislative franchise in the winning consortium that bagged the country’s third telco slot.

She recalled that “it was put into the spotlight after Senate Minority Leader Franklin [M.] Drilon said the franchise has been deemed ‘ipso facto’ revoked for nonoperation within a year after its franchise was granted in 1998, failure to list in the stock market and failure to get the nod of Congress when it sold 70 percent of its shares in 2015.

Asked whether or not her panel was inclined to recommend the approval of Mislatel’s franchise, Poe said in Filipino: “I do not want to lead on because the issue will be put to a vote. Everyone has an opinion;

I am just presenting the issue. I do not want to get ahead of the decision because I do not have a monopoly of what is right. I need to hear all discussions again, reread and restudy.”

The Senate Public Services panel earlier invited legal experts to the hearing, with Poe assuring that their positions will be considered when the Senate committee releases its committee report by next week.

During the panel hearing, senators and resource persons debated whether Mislatel still has a valid franchise and whether courts or Congress has the power to declare when a franchise has been revoked.

But Poe pointed out that the Senate may also “cure the defect and questions” surrounding the legality of Mislatel’s franchise.

“We have to cure perhaps the provision not just only Mislatel, but the general franchise provision to make it clear who has the power to ipso facto revoke,” Poe said, even as she warned the consortium that in the event the Senate and Congress as a whole give the green light to the franchise, “it may undergo protracted legal proceedings in case some quarters question the franchise in the courts.”

Its horizontal projects are under Phirst Park Homes, CPG’s new brand for first-home buyers in partnership with one of Japan’s largest conglomerates, Mitsubishi Corp. VG Cabuag

AEV board approves ₧30-billion fixed rate bond issuance

By VG Cabuag @villygc

T

HE board of Aboitiz Equity Ventures Inc. (AEV) on Wednesday approved the issuance of P30-billion denominated retail bonds to be sold in tranches.

In its disclosure to the Philippine Stock Exchange, AEV said it will file its shelf-registration statement for the said bond issuance, which it will sell in tranches depending on market conditions.

The said debt paper will also be listed at the Philippine Dealing and Exchange Corp.

“The board of directors delegated to management the final determination of the offer price, tenors, and other terms and conditions of the bonds. AEV will use the proceeds of the bonds to finance planned acquisitions, future investments and other general corporate requirements,” it said.

AEV earlier said it is allotting P50 billion to P60 billion for capital expenditures (capex) this year, the same amount as last year’s, mainly for its power and water businesses.

Manuel Lozano, the company’s

chief financial officer, earlier said the company has already spent about three-fourths of its capex in 2018 and some of the projects have spilled over to 2019.

The bulk of the 2019 capex “will be for power, but now we already have Apo Agua for water—that’s going to be big also. Land has several projects that we started.

So I think now you’re going to see a little bit more from the other subsidiaries,” he said.

“One transaction that hasn’t been completed yet is the GN Power acquisition from Ayala; we would need to raise funding for that.

That’s about $579 million,” he said.

He said the company is talking to a group of banks that will lend them that amount of money.

“We’re hoping to close it at the first quarter of 2019,” he said.

“At this point, what we’ve lined up is the dollar, because the purchase price is dollars. But we’re going to hedge some of it. We’re trying to match it with the cash flows from the company, as well.

It’s a dollar borrowing. The question now is how much do we hedge to the peso,” Lozano said.

B2

Companies BusinessMirror

Thursday, January 31, 2019

PSE STOCK QUOTATIONS

January 30, 2019

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

ASIA UNITED 59 59.2 59 59.05 59 59 14500 855750 BDO UNIBANK 134.8 136 138.4 139.2 134.7 136 5169730 705162207 BANK PH ISLANDS 90.5 91 91.55 92.2 90.25 91 1736130 158292810.5 CHINABANK 28.55 28.7 28.8 29 28.55 28.55 115000 3299400 EAST WEST BANK 12.36 12.5 12.48 12.58 12.28 12.5 346900 4290720 METROBANK 82.5 82.9 84.3 84.3 82.15 82.9 1125680 93219776.5 PB BANK 13.62 13.7 13.48 13.9 13.46 13.7 430600 5894182 PHIL NATL BANK 43.6 44.7 44.6 44.7 43.6 43.6 83900 3705150 PSBANK 58.9 59.9 58.3 59.9 58.3 59.9 9270 543270 PHILTRUST 116 122 120 120 120 120 130 15600 RCBC 26.95 27 26.8 27 26.8 26.95 69100 1856575 SECURITY BANK 175.3 176 176.8 178.4 175.3 176 325050 57578431 UNION BANK 64.5 64.55 64.55 64.55 64.4 64.55 30020 1936361 BRIGHT KINDLE 1.38 1.45 1.44 1.45 1.36 1.45 1142000 1617330 BDO LEASING 2.15 2.17 2.12 2.15 2.12 2.15 12000 25770 COL FINANCIAL 16.82 16.84 16.62 16.82 16.62 16.82 208600 3490646 FERRONOUX HLDG 4.71 4.86 4.93 4.93 4.7 4.86 171000 811660 IREMIT 1.39 1.47 1.39 1.39 1.39 1.39 9000 12510 MEDCO HLDG 0.47 0.475 0.455 0.475 0.45 0.47 970000 447850 NTL REINSURANCE 1.12 1.13 1.1 1.14 1.08 1.13 1024000 1148220 PHIL STOCK EXCH 182.5 185.8 185.8 185.8 182.1 182.5 120 21934 VANTAGE 1.14 1.17 1.14 1.14 1.14 1.14 14000 15960

INDUSTRIAL ALSONS CONS 1.33 1.35 1.37 1.37 1.33 1.33 940000 1256420 ABOITIZ POWER 37.85 38.2 38.1 38.5 37.5 38.2 1062500 40554675 BASIC ENERGY 0.245 0.25 0.249 0.255 0.245 0.25 8330000 2080450 FIRST GEN 20 20.25 20.4 20.4 19.82 20 3877200 77802594 FIRST PHIL HLDG 73.9 74 74 75 73 74 128590 9458259 MERALCO 365 371 375.8 375.8 363 371 323590 119594276 MANILA WATER 26.9 27.5 27.1 27.5 26.75 27.5 283600 7773335 PETRON 7.59 7.6 7.74 7.77 7.6 7.6 5807900 44452936 PETROENERGY 3.62 3.7 3.63 3.64 3.62 3.62 210000 760840 PHINMA ENERGY 1.26 1.27 1.28 1.29 1.26 1.27 22550000 28702940 PH RESORTS GRP 6.17 6.18 5.99 6.27 5.92 6.17 656600 4007192 PHX PETROLEUM 10.7 10.74 10.7 10.78 10.64 10.7 41300 441668 PILIPINAS SHELL 47.7 47.9 47.45 48.05 47.2 47.7 1045300 49856175 SPC POWER 6.35 6.4 6.41 6.41 6.35 6.4 53100 338900 VIVANT 16.02 16.98 16.06 16.06 16 16 4400 70500 AGRINURTURE 15.5 15.96 16.3 16.3 15.2 15.96 1722000 27364056 BOGO MEDELLIN 84 93.95 90 93.95 90 93 370 33789.5 CNTRL AZUCARERA 17.2 17.58 17.94 17.94 17.2 17.2 21800 377642 CENTURY FOOD 15.68 15.92 15.6 15.94 15.6 15.9 2218900 35275710 DEL MONTE 6.45 6.6 6.4 6.65 6.4 6.6 48700 320826 DNL INDUS 11.58 11.6 11.72 11.72 11.44 11.6 3676200 42785522 EMPERADOR 7.37 7.6 7.62 7.65 7.49 7.57 57500 434341 SMC FOODANDBEV 93.85 94 95 95 93.25 94 378020 35617147.5 ALLIANCE SELECT 1.02 1.03 1.03 1.03 1.01 1.02 3070000 3131290 GINEBRA 27 27.3 27.45 27.45 27.1 27.3 3400 92755 JOLLIBEE 314 315 322 322 307.6 314 991120 311788736 LIBERTY FLOUR 43.05 53.8 54 54 53.5 53.8 2680 144218 MACAY HLDG 10.2 10.36 10.2 10.2 10 10.2 1900 19280 MAXS GROUP 11.94 11.96 12.2 12.2 11.86 11.96 907100 10855976 MG HLDG 0.172 0.177 0.175 0.177 0.169 0.177 890000 151870 PEPSI COLA 1.35 1.36 1.38 1.38 1.33 1.36 6552000 8824710 SHAKEYS PIZZA 11.9 12 11.9 12.2 11.8 12 47200 567814 ROXAS AND CO 1.86 1.88 1.85 1.9 1.85 1.87 551000 1033190 RFM CORP 4.8 4.84 4.8 4.8 4.8 4.8 1464000 7027200 ROXAS HLDG 2.9 3.02 2.99 3.02 2.99 3.02 59000 177590 SWIFT FOODS 0.122 0.13 0.126 0.129 0.121 0.121 6220000 759080 UNIV ROBINA 145.8 146 146 147.8 143.5 145.8 1360950 198148268 VITARICH 1.85 1.86 1.82 1.87 1.74 1.86 12825000 23194460 CONCRETE A 60.05 64.5 64.55 64.55 64.55 64.55 50 3227.5 CEMEX HLDG 2.57 2.58 2.56 2.65 2.5 2.57 35418000 91214580 DAVINCI CAPITAL 6.11 6.4 6.39 6.4 6.39 6.4 2000 12790 EAGLE CEMENT 15.8 15.86 15.8 15.84 15.64 15.8 708900 11201602 EEI CORP 8.03 8.04 8.06 8.09 8 8.04 115100 924814 HOLCIM 8.19 8.2 8.21 8.45 8.05 8.19 10517200 86369002 MEGAWIDE 18.14 18.28 18.26 18.36 17.94 18.28 2474600 45277010 PHINMA 8.82 9.15 8.81 8.9 8.81 8.9 400 3551 TKC METALS 0.91 0.93 0.91 0.95 0.9 0.93 217000 197080 VULCAN INDL 1.46 1.47 1.47 1.49 1.42 1.47 7347000 10671210 CHEMPHIL 140 145 134 140 130 140 4060 538021 CROWN ASIA 1.74 1.78 1.79 1.79 1.79 1.79 22000 39380 EUROMED 1.58 1.72 1.69 1.74 1.57 1.58 59000 99040 LMG CHEMICALS 4.3 4.5 4.3 4.3 4.29 4.3 115000 494000 MABUHAY VINYL 3.18 3.28 3.24 3.24 3.19 3.24 6000 19300 PRYCE CORP 6 6.02 5.85 6.01 5.85 6 539500 3237157 CONCEPCION 40.25 42 40.7 41 40.7 41 40600 1664570 GREENERGY 2.23 2.24 2.23 2.25 2.17 2.24 5382000 11977140 INTEGRATED MICR 12 12.06 11.98 12.2 11.86 12 722500 8720314 IONICS 1.67 1.68 1.63 1.69 1.57 1.67 1219000 1984860 PANASONIC 5.9 6 6 6 6 6 29800 178800 SFA SEMICON 1.35 1.4 1.39 1.4 1.34 1.4 360000 487870 CIRTEK HLDG 30.3 30.95 30.3 30.95 30.3 30.95 54600 1672200

HOLDING & FRIMS ABACORE CAPITAL 0.62 0.63 0.61 0.64 0.59 0.63 41410000 25728110 ASIABEST GROUP 28 28.7 27.6 28.8 26.25 28.7 269800 7417795 AYALA CORP 915 918 923 923 904 918 592270 541151345 ABOITIZ EQUITY 64 64.3 64.15 65.7 63.05 64 1042290 66944626 ALLIANCE GLOBAL 13.6 13.62 14.06 14.08 13.5 13.62 8805900 120475430 ANSCOR 6.5 6.54 6.31 6.5 6.31 6.5 42600 273142 ANGLO PHIL HLDG 0.76 0.79 0.76 0.79 0.76 0.79 21000 15990 ATN HLDG A 1.45 1.46 1.43 1.46 1.41 1.45 8167000 11697430 ATN HLDG B 1.45 1.47 1.45 1.47 1.41 1.47 807000 1165070 COSCO CAPITAL 7.44 7.45 7.5 7.5 7.43 7.45 1530900 11405334 DMCI HLDG 12.5 12.6 12.5 12.6 12.32 12.6 4398700 55297184 FILINVEST DEV 12.28 12.3 12.48 12.48 12.26 12.28 102100 1257556 FORUM PACIFIC 0.217 0.227 0.217 0.217 0.216 0.216 100000 21650 GT CAPITAL 1019 1030 1040 1058 1020 1030 120520 124658940 HOUSE OF INV 5.77 6.15 5.77 5.77 5.77 5.77 7400 42698 JG SUMMIT 63.75 64.95 65 65.9 63.7 64.95 1561550 101177149.5 JOLLIVILLE HLDG 5.52 5.7 5.7 5.7 5.7 5.7 400 2280 LODESTAR 0.58 0.62 0.62 0.63 0.59 0.62 324000 192550 LOPEZ HLDG 5.11 5.14 5.1 5.24 5.1 5.11 12479900 64303588 LT GROUP 15.26 15.28 15.88 15.9 15.26 15.26 2292500 35582540 MABUHAY HLDG 0.58 0.59 0.6 0.6 0.57 0.58 337000 196620 MJC INVESTMENTS 2.81 3.47 2.81 2.81 2.81 2.81 6000 16860 METRO PAC INV 4.89 4.93 4.95 4.95 4.85 4.93 18184000 88896170 PACIFICA 0.038 0.04 0.038 0.04 0.038 0.038 26800000 1048600 PRIME ORION 2.45 2.47 2.47 2.47 2.44 2.45 179000 439410 PRIME MEDIA 1.16 1.21 1.17 1.17 1.17 1.17 22000 25740 SOLID GROUP 1.33 1.36 1.33 1.36 1.33 1.33 105000 139680 SYNERGY GRID 442 464 444 464 441 464 420 186430 SM INVESTMENTS 967 975 972 976 954.5 975 296090 285347065 SAN MIGUEL CORP 163 164 164 166 163 163 833360 136918361 SOC RESOURCES 0.78 0.84 0.78 0.78 0.78 0.78 27000 21060 TOP FRONTIER 268.4 278.8 270 278.8 270 278.8 860 234208 WELLEX INDUS 0.25 0.26 0.255 0.26 0.248 0.255 2280000 576890 ZEUS HLDG 0.217 0.229 0.226 0.227 0.225 0.227 170000 38430

PROPERTY ARTHALAND CORP 0.88 0.89 0.9 0.91 0.85 0.89 2903000 2513920 ANCHOR LAND 10.68 11.1 10.58 10.58 10.58 10.58 1200 12696 AYALA LAND 43.4 43.75 43.1 44.2 43.1 43.75 17467400 762477300 ARANETA PROP 1.71 1.73 1.66 1.73 1.65 1.73 164000 277080 BELLE CORP 2.43 2.44 2.46 2.46 2.4 2.44 1303000 3171180 A BROWN 0.81 0.82 0.84 0.84 0.81 0.81 2081000 1695570 CITYLAND DEVT 0.87 0.9 0.9 0.9 0.9 0.9 1000 900 CROWN EQUITIES 0.237 0.238 0.245 0.245 0.236 0.238 9210000 2206450 CEBU HLDG 6.15 6.2 6.02 6.2 6.02 6.2 9500 58097 CEB LANDMASTERS 4.19 4.2 4.25 4.3 4.19 4.19 234000 995980 CENTURY PROP 0.475 0.48 0.48 0.49 0.47 0.48 18380000 8835300 CYBER BAY 0.38 0.395 0.39 0.39 0.38 0.38 120000 46700 DOUBLEDRAGON 20.45 20.5 20.75 20.75 20.35 20.5 882100 18074985 DM WENCESLAO 9.05 9.1 8.85 9.2 8.85 9.1 2751500 24751770 EMPIRE EAST 0.49 0.5 0.495 0.5 0.49 0.49 77000 38050 FILINVEST LAND 1.45 1.46 1.5 1.52 1.46 1.46 30787000 45314320 GLOBAL ESTATE 1.16 1.18 1.16 1.18 1.15 1.16 628000 726780 8990 HLDG 9.65 9.7 9.05 9.7 9.05 9.65 2412600 22594800 PHIL INFRADEV 2.22 2.24 2.29 2.3 2.2 2.22 12677000 28322650 CITY AND LAND 0.81 0.83 0.8 0.81 0.8 0.81 218000 174710 MEGAWORLD 5.12 5.17 5.29 5.3 5.05 5.17 27829400 143451426 MRC ALLIED 0.44 0.445 0.435 0.445 0.43 0.445 34930000 15355150 PHIL ESTATES 0.46 0.47 0.46 0.47 0.455 0.47 730000 335550 PRIMEX CORP 3.25 3.27 3.18 3.27 3.12 3.27 502000 1597770 ROBINSONS LAND 22.45 22.6 22.95 23 22.35 22.6 1790400 40322470 PHIL REALTY 0.44 0.45 0.44 0.465 0.43 0.45 3690000 1673900 ROCKWELL 1.98 1.99 1.99 1.99 1.99 1.99 42000 83580 SHANG PROP 3.1 3.12 3.12 3.12 3.12 3.12 27000 84240 STA LUCIA LAND 1.34 1.36 1.38 1.38 1.34 1.36 271000 365920 SM PRIME HLDG 38.5 39.1 39.65 39.65 38.35 39.1 12153700 473730795 STARMALLS 5.96 5.98 6 6 5.89 5.96 323400 1916276 SUNTRUST HOME 0.7 0.73 0.7 0.7 0.69 0.69 85000 59140 VISTA LAND 5.8 5.84 5.83 5.84 5.73 5.84 6020300 34999833

SERVICES ABS CBN 22.75 22.8 23.45 23.45 22.6 22.75 243800 5580995 GMA NETWORK 5.73 5.78 5.87 5.89 5.71 5.78 178200 1028798 GLOBE TELECOM 2084 2086 2110 2148 2070 2086 42660 89430740 PLDT 1305 1307 1365 1366 1300 1305 113875 149343160 APOLLO GLOBAL 0.04 0.041 0.041 0.041 0.04 0.04 17000000 684700 DFNN INC 6.9 7 7.29 7.29 7 7 8200 58439 ISLAND INFO 0.122 0.124 0.125 0.125 0.122 0.124 3990000 490420 ISM COMM 6.28 6.29 5.6 6.48 5.51 6.29 33773200 207498012 JACKSTONES 3.17 3.25 3.17 3.25 3.17 3.25 25000 81090 NOW CORP 3.43 3.45 3.57 3.58 3.42 3.43 3012000 10419690 TRANSPACIFIC BR 0.465 0.47 0.495 0.52 0.465 0.465 146010000 72088100 PHILWEB 3.04 3.05 3.05 3.07 2.96 3.05 1751000 5,277,680( 2GO GROUP 13.28 13.38 13.5 13.5 13.24 13.38 132800 1769506 CEBU AIR 87.9 88 88.05 88.1 85.7 88 320910 28176399 CHELSEA 6.48 6.49 6.22 6.72 6.06 6.49 3325800 21363551 INTL CONTAINER 106.1 106.3 106.5 107.9 106.1 106.3 1695310 182016306 LBC EXPRESS 14.5 14.88 14.8 14.88 14.32 14.88 2700 40098 LORENZO SHIPPNG 0.79 0.82 0.79 0.79 0.79 0.79 53000 41870 MACROASIA 18.82 18.88 18.28 19.2 18.26 18.82 6937100 129128776 METROALLIANCE A 2.11 2.15 2.22 2.22 2.07 2.15 530000 1112640 PAL HLDG 14.12 14.14 15 15.78 14.06 14.14 3670900 54715598 HARBOR STAR 2.87 2.88 2.9 2.92 2.82 2.87 1999000 5725200 ACESITE HOTEL 1.31 1.36 1.33 1.33 1.31 1.31 428000 561400 BOULEVARD HLDG 0.058 0.059 0.058 0.06 0.058 0.058 12240000 723020 WATERFRONT 0.7 0.71 0.7 0.71 0.69 0.7 1505000 1045800 CENTRO ESCOLAR 7.7 7.99 7.99 7.99 7.99 7.99 200 1598 FAR EASTERN U 900 1335 959.5 960 950 950 160 153495 IPEOPLE 10.72 11.16 11.16 11.16 11.16 11.16 100 1116 STI HLDG 0.83 0.84 0.8 0.87 0.78 0.84 70701000 59288040 BERJAYA 2.81 2.82 2.84 2.86 2.63 2.82 2985000 8239140 BLOOMBERRY 10.52 10.6 10.52 10.64 10.48 10.6 4270900 45056988 PACIFIC ONLINE 9.23 9.37 9.37 9.37 9.25 9.25 21100 195349 LEISURE AND RES 3.23 3.29 3.27 3.32 3.22 3.23 722000 2360370 MANILA JOCKEY 4.77 4.95 4.85 4.99 4.79 4.99 324000 1559350 PREMIUM LEISURE 0.89 0.9 0.9 0.92 0.88 0.9 11839000 10717110 TRAVELLERS 5.5 5.51 5.5 5.51 5.46 5.5 499300 2745670 METRO RETAIL 2.57 2.63 2.56 2.62 2.56 2.57 2349000 6079370 PUREGOLD 45 45.8 45.75 46 44.7 45 2336600 105442545 ROBINSONS RTL 85.1 86.1 83.65 86.45 83.65 86.1 659110 56805279.5 PHIL SEVEN CORP 121.5 122 121.5 121.5 121.5 121.5 1270 154305 SSI GROUP 2.41 2.42 2.41 2.44 2.37 2.42 7023000 16918110 WILCON DEPOT 13.52 13.6 13.64 13.76 13.48 13.6 1165300 15899430 APC GROUP 0.445 0.455 0.445 0.455 0.445 0.445 2330000 1040850 EASYCALL 15.4 15.56 15.24 15.98 14.9 15.56 348100 5370102 GOLDEN BRIA 345 349.8 343 350 343 349.8 3530 1232972 IPM HLDG 7.09 7.25 7.27 7.27 7.1 7.1 10800 77555 PAXYS 3.55 3.6 3.67 3.67 3.55 3.6 20000 71170 PRMIERE HORIZON 1.58 1.59 1.72 1.77 1.58 1.59 398843000 669179770 SBS PHIL CORP 8.28 8.38 8.43 8.5 8.25 8.28 261200 2186999

MINING & OIL ATOK 12.58 13.1 13.4 13.4 13 13 26800 351982 APEX MINING 1.58 1.59 1.6 1.6 1.57 1.6 1545000 2452850 ABRA MINING 0.002 0.0022 0.0021 0.0022 0.002 0.0021 669000000 1395400 ATLAS MINING 2.84 2.9 2.93 2.95 2.84 2.84 184000 532540 BENGUET A 1.28 1.32 1.3 1.32 1.3 1.32 10000 13040 COAL ASIA HLDG 0.29 0.3 0.29 0.3 0.29 0.3 40000 11700 CENTURY PEAK 2.03 2.04 2.03 2.03 2.01 2.03 499000 1008070 FERRONICKEL 1.45 1.47 1.45 1.48 1.43 1.45 2162000 3129700 GEOGRACE 0.216 0.221 0.218 0.221 0.214 0.22 1120000 241860 LEPANTO A 0.131 0.132 0.13 0.138 0.129 0.131 27570000 3643360 LEPANTO B 0.133 0.135 0.13 0.138 0.13 0.135 5430000 725870 MANILA MINING A 0.0074 0.0079 0.0073 0.0079 0.0072 0.0079 11000000 83600 MARCVENTURES 1.12 1.18 1.12 1.13 1.08 1.12 302000 332870 NIHAO 1.04 1.09 1.05 1.1 1.03 1.09 345000 365210 NICKEL ASIA 2.46 2.48 2.44 2.48 2.41 2.48 1709000 4172380 OMICO CORP 0.67 0.68 0.67 0.7 0.65 0.68 268000 180290 ORNTL PENINSULA 0.96 0.97 0.95 0.97 0.94 0.97 531000 503760 PX MINING 4.21 4.22 4.12 4.3 4.11 4.21 5048000 21322870 SEMIRARA MINING 23.15 23.2 23.6 23.6 23 23.2 1352500 31462305 UNITED PARAGON 0.0074 0.0075 0.0072 0.0076 0.0072 0.0074 13000000 96500 ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 12300000 153700 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 312500000 3953500 PHINMA PETRO 3.66 3.68 3.66 3.68 3.66 3.66 62000 226940 PXP ENERGY 14.4 14.46 14.82 14.84 14.36 14.4 3112800 45303834

PREFFERED HOUSE PREF A AC PREF B1 ALCO PREF B DD PREF SMC FB PREF 2 GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3A SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I

95 472.2 101.5 98.1 985 899 0.99 101.5 100 75.05 75.2 72.5 72.05 74.55 73 72.65 73

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

20 5.57 1.93

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.54 XURPAS 1.54

118

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96 473 101 98.5 989 900 1 101.5 100.2 75.2 76.5 72.5 72.05 74.5 73 74 73

96 480 101 98.5 989 900 1 102 100.2 75.2 76.5 72.5 72.05 74.55 73 74 73.9

96 472.2 100.9 98.1 989 900 0.98 101.5 100.2 75.15 75 72.5 72 74.5 73 73 73

96 472.2 101 98.5 989 900 0.98 102 100.2 75.15 75 72.5 72 74.55 73 73 73.1

2470 2210 9000 19960 10 650 761000 5200 2000 480 10270 10000 6000 8200 10000 150 3290

237120 1057522 908800 1966040 9890 585000 757520 528095 200400 36076 771484 725000 432010 611050 730000 10980 240537

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20 5.58

20.35 5.58

19.68 5.5

20.2 5.5

119900 171300

2398115 948828

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1.96

1.93

1.93

1.91

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4.66 1.39

4.66 1.57

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4.55 1.54

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EXHANGE TRADE FUNDS FIRST METRO ETF

23929555 -1518000 24794293 690809.5 23844594 2092050 3479106 -1714200 -33080 -11173205 -31805 -2255986 922040 9016 -5933432 187480 10960150.5 -38360 -70390170 -1976556 536520 46750 9600 64250 59686883 -309530 -10651850 -1158166 11226 32257204 19215518 1074790 35800 -1700 -5 -20500 -971620 159250 -182605

96 478.8 102.5 98.5 989 900 1.01 102 100.9 75.15 76.5 73.85 73.85 74.8 74.5 73 73.3

WARRANTS LR WARRANT

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Editor: Efleda P. Campos

PNOC-EC net income in 2018 up 25% to ₧1.37B

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By Lenie Lectura

@llectura

HE Philippine National Oil Co.Exploration Corp. (PNOC-EC) recorded a net income of P1.371 billion in 2018, up 25 percent from the P1.095 billion it recorded a year ago.

PNOC-EC’s service and business revenues last year stood at P5.169 billion, higher than the P4.38 billion recorded in 2017.

Expenses, likewise, increased to P2.816 billion in 2018 from P2.364 billion in 2017.

Separately, PNOC-EC issued

a bid invite for accreditation regarding its plan to purchase Euro 4 diesel or gasoline.

“PNOC-EC, through its oil committee, invites interested suppliers, both local and foreign, for accreditation for the supply of Philippine Standard Euro 4 50 ppm [parts per

million] gas oil or diesel fuel,” said PNOC-EC in a bid invite.

Interested suppliers must meet the minimum qualifications and submit the required documents on or before February 15, 2019.

Suppliers who want to be accredited must be in the business of trading and supply of petroleum for at least two years.

Required is a proof of minimum two transactions of at least 30,000 metric tons (MT) of petroleum each for the last two years.

They should also submit proof of financial capacity, previous transactions in the supply of petroleum completed in the last two years, company profile, among others.

Local and foreign firms are allowed to participate.

The Department of Energ y (DOE) fully supports PNOC-EC in sourcing petroleum products, saying this move is meant to “establish a strategic petroleum reserve [SPR] to cushion the impact of the rising price of oil in the international market.”

Energ y S e c ret a r y A l fon so G. Cusi said the government is aware of the country’s “vulnerabilities to abrupt changes in the international oil situation and impending threats on the same; hence, we are formulating various strategies to address those vulnerabilities to cushion the impact for our consumers.”

Richli Corp. inaugurates ₧1.5-B water treatment facility in Bohol C

ORTES, Bohol—Richli Corp. officially inaugurated on Wednesday its P1.5-billion water facility located here that will benefit around 20,000 households in three towns and one city covered by its concession area in the province. “[It] is the start of the realization of [Boholanos’] dream of having a sustainable potable-water supply for Panglao, Dauis, Tagbilaran City and Baclayon,” Richli Corp. Richard E. Lim Sr. said during the launch and blessing of the facility.

He said the water project was conceptualized because of the lack of standard water supply for the firm’s sister company Eskaya Beach Resort & Spa. Richli Corp.’s bulk-water supply business involves a 32-kilometer (km) main transmission pipe from the town of Cortes, where it sources the surface water, passing through Corella, Baclayon, Tagbilaran, Dauis and all the way to Panglao.

Within its service areas, there is also a 700-km distribution piping, added Richli Corp. President Ralph Miguel B. Lim. This facility seated on Barangay Patrocinio is the first of its kind in the province as it is equipped with the latest hydro-process control technology that evolved from the

water treatment facilities JE Hydro & Bio-Energy Corp. designed and constructed all over the Philippines.

Such water-treatment plants are now operating in places like Cagayan de Oro City, Iloilo, Leyte, Bukidnon and Agusan del Sur. The new water distributor employs in its facility the proven process of treating surface water using proprietary and environment-friendly chemicals for the coagulation process to remove the dirt and other undesirable impurities from the river water.

It further purifies the treated water using the dual media filter composed of anthracite and silica sand before it finally undergoes the process of disinfection by using chlorine to kill all the microbes.

The Richli water plant is designed and guaranteed to produce 10 million liters per day of potable water that meets the specification of the Philippine National Standard for Drinking Water.

Strict in quality control procedure, the company has online analyzers for the continuous monitoring of the water quality.

What’s more, it has its own laboratory at the site, with licensed chemists, who double check the quality analysis of the water product.

Roderick L. Abad

Meralco prepaid customers number 100,000 at end-2018

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HE Manila Electric Co. (Meralco) has registered over 100,000 prepaid electricity service (PRES) customers last year.

“Our approval is for 140,000.

We’ve breached the 100,000-mark, maybe 105,000 or 108,000 and we intend to finish up the 40,000 this year,” Meralco Senior Vice President Alfredo Panlilio said.

In 2017, Meralco activated an additional 48,735 PRES customers, cumulative of 89,717. The activations in 2017 were an all-time high, doubled year-on-year.

The prepaid service runs on the latest “smart” meters that allow customers to monitor their electricity consumption, allowing them to budget their consumption and expenses.

In all, Meralco applied for a total of 1 million smart meters to be in-

stalled across its service areas. But the Energy Regulatory Commission (ERC) has yet to approve Meralco’s applications.

Panlilio is assuming the ERC needs to approve first the business rules for its Advanced Metering Infrastructure (AMI) project before Meralco’s applications for additional smart meters are approved.

“The filings we’ve given the last three years have not been decided on, totaling about a million meters. But I think the first step we need is to finalize the AMI business rules. Once they’ve finalized that, they should approve our filings on the meters,” he said.

AMI is an integrated system of smart meters, communication networks and data-management systems that enables two-way communication between utilities and customers. Lenie Lectura

MUTUAL FUNDS

January 30, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 269.47 -12.22% 4.88% 3.83% 6.84% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.4989 -10.02% 13.55% 4.15% 4.03% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 4.1472 -13.94% 6.65% 2.17% 6.26% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.9558 -6.61% N.A. N.A. 7.33% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC.* 0.8828 N.A. N.A. N.A. 7.57% FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.5671 -11.06% 4.61% 3.07% 5.62% MBG EQUITY INVESTMENT FUND, INC. * 122.09 1.4% N.A. N.A. 4.83% ONE WEALTHY NATION FUND, INC.* 0.8936 -13.37% -2.92% N.A. 7.35% PAMI EQUITY INDEX FUND, INC.* 52.9291 -10.91% 6.15% N.A. 7.57% PHILAM STRATEGIC GROWTH FUND, INC.* 548.3 -11.16% 4.48% 3.01% 6.52% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.3286 -8.96% 6.18% N.A. 5.95% PHILEQUITY FUND, INC.* 39.0274 -9.26% 7.07% 5.67% 6.54% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC.* **** 1.054 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC.* 5.3439 -10.89% 7.03% 5.72% 7.77% PHILIPPINE STOCK INDEX FUND CORP.* 892.7 -10.68% 6.89% 5.76% 7.75% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.9115 -10.23% 4.06% N.A. 5.84% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 4.3171 -10.52% 6.46% 4.13% 6.36% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 1.0275 -11.02% 6.77% N.A. 7.67% UNITED FUND, INC.* 3.7052 -7.64% 7.79% 4.46% 5.83% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* ***^ 119.3909 -10.34% 8.07% 6.88% 7.8% ATRAM ASIAPLUS EQUITY FUND, INC.** $0.975 -19.37% 7.76% 1.2% 4.94% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.1857 -12.2% N.A. N.A. 7.29% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.7333 -10.32% 1.29% -0.15% 4.97% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.3065 -8.79% 3.86% 1.78% 4.4% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.6541 -6.82% 1.73% -0.35% 4.34% GREPALIFE BALANCED FUND CORPORATION* 1.3653 -9.32% N.A. N.A. 4.68% NCM MUTUAL FUND OF THE PHILS., INC* 1.9155 -6.69% 3.16% 2.67% 3.93% PAMI HORIZON FUND, INC.* 3.6329 -10.35% 1.58% 1.61% 2.94% PHILAM FUND, INC.* 16.464 -9.14% 1.89% 1.67% 3.5% SOLIDARITAS FUND, INC.* 2.1614 -6.61% 3.56% 3.6% 4.3% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.8218 -7.93% 3.27% 2.5% 4.67% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.965 -8.44% 2.68% N.A. 4.7% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03547 -1.55% 0.06% 1.85% 0.62% PAMI ASIA BALANCED FUND, INC.* $0.9639 -13.42% 5.43% 0% 2.96% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.4836 -9.02% 5.78% 1.89% 5.3% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0445 -8.88% N.A. N.A. 3.42% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 344.67 2.08% 2.13% 2.07% 0.38% ATRAM CORPORATE BOND FUND, INC.* ^^ 1.8706 -1.37% -0.36% -0.25% 0.61% COCOLIFE FIXED INCOME FUND, INC.* 2.9834 5.43% 5.36% 5.27% 0.42% EKKLESIA MUTUAL FUND INC.* 2.1431 1.46% 1.56% 1.77% 0.59% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2247 0.23% 0.32% 0.54% 0.7% GREPALIFE FIXED INCOME FUND CORP.* P 1.5888 -1.92% -0.32% 0.1% 1.56% PHILAM BOND FUND, INC.* 3.8887 -4% -1.02% 0.1% -0.79% PHILEQUITY PESO BOND FUND, INC.* 3.5638 1.71% 1.01% 0.99% 1.33% SOLDIVO BOND FUND, INC. * 0.91 -1.22% -0.3% N.A. 1.95% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.8149 0.68% 1.43% 1.34% 1.77% SUN LIFE PROSPERITY GS FUND, INC.* 1.5654 0.32% 1.08% 0.89% 1.66% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $449.91 1.06% 2.21% 3.07% 0.36% ALFM EURO BOND FUND, INC. * Є213.58 0% 1.21% 1.56% 0.44% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1388 0.89% 1.12% 2.15% 1.15% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0249 - 0.4% 0.68% N.A. 0.4% GREPALIFE DOLLAR BOND FUND CORP.* $1.6932 -3.77% -0.74% 1.08% 0.18% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0411 -2.12% -0.56% -2.37% 0.34% PHILAM DOLLAR BOND FUND, INC.* $2.1993 -1.48% 0.89% 2.85% 1.29% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0571891 0.34% 0.97% 1.86% 0.37% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8999 -3.08% 0.23% 1.86% 0.97% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 121.4 3.05% 1.98% 1.65% 0.46% PHILAM MANAGED INCOME FUND, INC.* 1.183 1.97% 0.78% 0.54% 0.09% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2228 2.78% 2.32% 1.67% 0.31% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* $1.0179 1.86% N.A. N.A. 0.2%

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

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

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Thursday, January 31, 2019

B3

DBP to phase out non-EMV cards February 1

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HE government-owned Development Bank of the Philippines (DBP) on Wednesday reminded its clients to complete the deactivation of their old automated teller machine (ATM) cards as the bank will phase them out on February 1.

“We call on our valued DBP account holders to proceed to their servicing branch and obtain their EMV/debit prepaid card,” DBP President and CEO Cecilia Borromeo said in a statement.

“DBP personnel are also ready to process requests for upgrading of existing ‘magstripe’ [magnetic stripe] cards to EMV.” Borromeo said customers who are still using the old, magstripe-enabled card are advised to visit their branch of

account in order to avoid inconvenience once the old card is deactivated by February 1 and can no longer be used in any ATM or terminal.

EMV stands for Europay, Mastercard and Visa, a global standard for cards that come with a chip rather than the present magnetic stripe to read data and proceed with transactions. The issuance of an EMV-compliant card conforms with a 2014 directive of the Bangko Sentral ng Pilipinas that requires all banks

to shift to microchip-based cards and terminals in an effort to move to more secure transactions, protect integrity of customer information, reduce card fraud and enable the interoperability of payment networks. The BSP also ealier ordered banks to raise awareness, as well as manage customers’ expectations on the replacement of their payment cards.

“BSP supervised financial institutions should intensify their public awareness programs leveraging on all

available communication channels,” the BSP said. The information should clearly indicate the date when EMV cards are available and ready for pickup by their clients, as well as the related procedures for replacing magstripe cards and distributing EMV-compliant cards.”

DBP is the eighth-largest bank in terms of assets and has a total branch network of 137 branches across the archipelago. Its estimated depositor base is at around 800,000. Bianca Cuaresma

B4

TheBroa

Business

Thursday, January 31, 2019

THE MASS HO Why Filipinos continue to st M

By Cai U. Ordinario

ASS housing should be for all, but many Filipinos, particularly those belonging to lower-middle income families, still feel left out of the equation.

The family of Bituin Mendoza (not her real name) is an example.

Her family has been a renter for over a decade. Her mother, a domestic helper in Hong Kong, has been saving up for a home since she started working abroad 13 years ago.

They are currently “renting” a home from her father’s friend who is currently an overseas Filipino worker (OFW) in Dubai. The friend has been behind in their mortgage payments and, as the caretakers of the home, Mendoza’s mother pays for the back payments and serves as their rent.

Her mother’s remittance helped pay around P150,000 worth of back payments (about $2,857.88 at current exchange rates). Around P100,000 more is needed before all the payments are covered. Amid all their bills and obligations in ensuring that they do not fall behind on their rent and utilities payments is the dream that someday they will come home to a house they own.

“Kaya hindi masyadong ginagalaw ni Mama ’yung kita nya para ’pag umuwi na siya permanently, ’yun na ’yung next project nila. Kailangan lang matapos yung utang sa bahay para makaalis din kami [This is the reason Mama is saving her money. When she comes home permanently, buying a house will be their (parents) next project. We just need to finish paying for the house so that we can finally leave],” Mendoza said.

As for Brix Villaroel, owning a home is on the horizon for him and his family. His family, composed of his mother and a younger sibling who is still in school, is currently renting a home in Vito Cruz, Manila. Initially, their rent started at P15,000 (around $285.79) a month and steadily increased to P18,000 monthly.

A couple of years back, Villaroel and his mother scouted for a place they could finally call their own.

They found a P2-million condo in the area and entertained the thought of buying it by securing loans from the private sector and the government.

But they found that it was quite small for the amount of investment they needed to make.

Another hurdle is Villaroel’s tenure: he’s been working less than three years for the company. This makes him ineligible for a loan from Home Development Mutual Fund (HDMF), more commonly known as Pag-IBIG Fund. This sets back his and his mother’s plan to within two or three years.

While owning a home is a good thing, for single mother Estrella Dimaculangan (not her real name), it is not the most practical.

She said renting a house is the most affordable option for her right now. Raising a child on her own after her partner passed away is not easy and the mounting bills associated with schooling and health care can take their toll on a meager salary.

Dimaculangan said she is currently living with her family in a house they have been renting for over 30 years in Singalong, Manila. Since her sister married the

son of their landlady, they only pay a small rent, around P2,500 a month. Their simple home is just a studio-type house and she shares it with four other family members, including her child.

She said even if there was an option to secure a loan from PagIBIG, she did not entertain it because she thinks she would not be able to meet the payments given her salary and the cost of raising a child on her own.

Dimaculangan also recalled the experiences of a friend who defaulted on her Pag-IBIG payments for a house in Molino, Cavite. The friend even offered her the house but as she was averse to securing loans and the house was quite far from her work and family, she did not consider buying it.

“Sila Nanay may pwesto sa palengke pero hindi pang-malakasan kasi gulay lang ’yun, eh. Ako naman, single parent so ’yung perang hawak mo, kailangan mo talaga i-budget [Mother sells vegetables in the wet market but the profits are not that much. As for me, I’m a single parent so I had to budget every peso I have in my pocket],” Dimaculangan said.

Housing and income

MENDOZA, Villaroel and Dimaculangan are among the millions of middle-income household members who are renting nationwide.

Based on a rental study conducted by the Philippine Statistical Research and Training Institute (PSRTI), middle-income families accounted for the bulk or 889,033 families of the 1.5 million who are renting homes nationwide in 2012.

Based on the PSRTI study, Mendoza would classify under the rental class of P10,000 to P14,999, while Villaroel would classify under the P15,000 and over, and Dimaculangan would belong to the P2,000 to P3,999 level.

The PSRTI said there were around 33,200 households in Mendoza’s level of rent while in the case of Villaroel, there were about 10,969 households. Dimaculangan belongs to the second-largest group with 467,693 households renting at the P2,000 to P3,999 level.

The study stated that the rental level of P1,000 to P1,999 a month included the most number of households at 497,807 families.

Also noteworthy is that Dimaculangan belongs to the 122,034 families paying around P2,000 to P3,999 for rent and is a femaleheaded household.

Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang said middleincome households are especially sensitive to price. Such households are looking for investments that would allow them to maximize their hard-earned pesos.

He said this means they are looking for homes that are affordable and near their place of work.

They also preferred worthwhile investments that can accommodate their families comfortably.

The problem with these requirements is that these usually come

at a price, a price that few middleincome households can afford.

“I think the lower middle-income class is finding it difficult to buy their own home and not the entire middle-income class. Clearly, the options presented by realestate firms and Pag-IBIG aren’t attractive because current levels of disposable income won’t allow the lower middle-income class to allocate some amount for housing.

If they allocate money for housing, they’ll surely sacrifice spending for necessities and consequently lower their current standard of living,” University of Asia and the Pacific School of Economics Dean Cid Terosa said.

Part of this difficulty, not only for the lower middle-income households in the Philippines, but also Filipinos of higher or lower incomes, is the fact that the growth of real wages has been flat.

Philippine Institute for Development Studies (PIDS) Vice President Marife M. Ballesteros said this makes the cost of homes the primary concern when buying housing units.

Ballesteros referred to the presentation made by the Housing and Urban Development Coordinating Council (HUDCC) on its flagship program, Balai Filipino Housing Program (Building Adequate Livable Affordable and Inclusive Filipino Communities). Balai, a Malay word for house, showed that the ceiling for socialized housing programs remains steep for millions of Filipino households.

In Memorandum Circular 2, series of 2018, issued last September 2018, then HUDCC Secretary General Falconi V. Millar said the ceiling for socialized housing is P700,000 for a 22-square-meter (sqm) property, while P750,000 is the ceiling for a 24-sqm property in Metro Manila or the National Capital Region and other areas.

These other areas included nearby areas where millions of workers in NCR currently reside, such as San Jose del Monte City in Bulacan; Cainta and Antipolo City in Rizal; San Pedro City in Laguna; and Carmona, Imus and Bacoor in Cavite.

The Balai Housing Program is the Duterte administration’s 10year national housing program strategy to close the country’s shelter gap. The program aims to improve government efforts in addressing Filipinos’ housing needs, with the private sector playing a significant and pivotal role.

However, based on the 2015 Family Income and Expenditure Survey (FIES), the average income in the Philippines is P267,000 per household per year. The Philippine Statistics Authority (PSA) estimated that there were a total of 22.73 million households in 2015.

“In reality, it’s going to still be affordability that matters,” Ballesteros said. “Based on the HUDCC program, Balai, in their presentation, [showed] socialized housing was still expensive, around P750,000, without them thinking that people won’t be able to afford that because real wages are flat. So even if you try to explain to them, they seem not to understand.”

She added that, with real wages being flat, the chances of Filipinos getting a loan from a private bank would be slim. This is the same consideration when Filipinos resort to in-house financing in real-estate companies. This usually helps them secure their units but they still need to pay a certain amount of equity and would have

to pay longer to own their units.

She said that even government institutions like Pag-IBIG will also not be as open to lending higher amounts to individuals who do not have the capacity to pay for certain

housing units.

Due to these constraints, middle-income households will resort to renting units. The only problem is that you can rent for many years and pay amounts equivalent to paying

for your own home without owning the house you are staying in.

“Even regular employees, I agree, have no choice but to rent,” Ballesteros said. “Our drivers here, even after several years, are still

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, January 31, 2019

B5

OUSING MESS truggle with owning a home program in Quezon City dubbed “Bistekville,” which has been undertaken by the local government unit (LGU) with Phinma Property Holdings Corp. since 2011. This was the city’s response to the housing needs of more than 200,000 families living in areas considered danger zones, 80 percent of which were informal settlers, according to nongovernment organization Habitat for Humanity.

Bistekville housing units can be availed of by Quezon City residents who are considered informal settler families, or ISFs. These families are those living along rivers, creeks and esteros, those under transmission lines, those affected by infrastructure projects and those evicted through court order. They must also be able to pay monthly amortizations and should be members of Pag-IBIG Fund.

As payment, the LGU allows flexibility to future home owners.

For example, a P400,000 unit can be paid from one year to 30 years.

Those choosing to pay for their units for three decades would need to pay P2,645.30 per month, while those who intend to pay for the unit for one year would need to pay P34,673.67 a month.

Other LGUs, such as Pasig City, also have a housing program that involves the construction of medium-rise buildings in various in-city relocation sites, such as Amang Rodriguez Avenue, Manggahan, and Barangay Santa Lucia, among others.

Ballesteros added the Pasig City LGU is also accredited by other cities in terms of relocating informal settlers. She said Pasig City provides full support to these families who are relocated to other cities and municipalities. A memorandum of agreement with these cities and municipalities makes the move painless for ISFs in Pasig.

“The receiving LGUs would often complain ‘you’re putting all your squatters here in our areas,’ but Pasig is different,” Ballesteros said. “They welcome Pasig ISFs because they receive full support, meaning complete resettlement sites.”

The primary issue here is the capability of LGUs to provide the needs of ISFs for in-city relocation or resettlement in other areas. This required LGUs like Pasig and Quezon City to adjust their finances to be able to raise funds for socialized housing and to resettle ISFs.

In the case of Pasig, Ballestros said, it included in its revenue code that socialized housing funds will come from 1 percent of the assessed value of houses worth P1.5 million. This is coupled by efforts to charge idle land taxes. In the case of Quezon City, the recent increase in real-estate taxes went to socialized housing efforts.

ANNIKA GANDELHEID | DREAMSTIME.COM

Targets, headwinds

renting. And then they rent from informal rental facilities because that is within their budget.”

Housing for the poor

BUILDING a house for every Filipi-

no family is the Philippines’s “One Dream.” Many politicians have attempted to reach this dream call and several of them could be considered successful.

These include the housing

THESE efforts work toward helping the country meet its housing targets under the Philippine Development Plan (PDP). Under its Chapter 12, targets focused on providing access to affordable, adequate, safe and secure shelter in well-planned communities in the hope of addressing income inequality and meeting its goal called “AmBisyon 2040.” Ambisyon 2040 wants to meet the ambition that Filipinos own a single detached home by 2040.

The government also intends to decrease the proportion of urban population living in informal settlements from 7.53 percent in 2016 to 5.53 percent by 2022.

The government also aims to

improve the proportion of socialized housing targets met to housing needs; improve the proportion of low-cost housing targets met to housing needs; and deliver socialized and low-cost housing units.

The PDP aims to increase the proportion of socialized housing by 16.53 percent and low-cost housing, 5.5 percent by 2022 from the 2016 baselines of 8.6 percent and 5.27 percent, respectively.

In terms of delivering socialized housing units, the PDP aims to increase delivered socialized housing to 1.086 million by 2022 from 82,612 in 2016. For low-cost housing, the target is 361,398 units by 2022 from 50,626 in 2016.

The National Economic and Development Authority (Neda) said these targets may be hampered by suitable land for socialized and low-cost housing and the availability of basic services/utilities (i.e., water and power supply) are provided on time.

Further, the Neda said adequate budget for housing may also fall short and issues in land titling, land conversion and compliance to land development/housing construction documentary requirements resolved.

Apart from these reservations, Ballesteros said the targets may not have robust baselines considering that there are data considerations when it comes to determining how many ISFs there are and how many people are looking for their own homes.

Getting the numbers right, Ballesteros said, is the common factor of Asian countries, such as Singapore, that have implemented successful housing programs. Determining how many people need homes and where to find them were basic considerations, she added.

“Actually you don’t have any information, even if you search anywhere: what is the population of the informal settlers? The numbers are different,” Ballesteros said.

“The only thing you have is the CPH [Census of Population and Housing], but it’s significantly lower than the estimates of LGUs because they, too, conduct a census. The only problem is that they are not able to properly monitor, and usually their survey is done only for a single year, after that, we don’t know,” she explained.

Affordability options

HOWEVER, there are also those who believe the affordability of housing units only becomes a problem when it comes to low-income and poor households. PIDS Senior Research Fellow Jose Ramon G. Albert said middle-income Filipinos in general do not have problems accessing housing options.

Albert said these families just need to determine the best option for them financially. However, Albert also noted the absence of “hard data” to support claims that middle-income households are indeed having a difficult time purchasing homes.

In fact, there is evidence to the contrary.

Private-sector economist Calixto Chikiamco said real-estate firms always say they are enjoying brisk sales. Albert added that, however, many of those buying homes were Chinese nationals and/or Chinese companies.

“I’m not aware of that [middleincome households finding it difficult to buy homes] as a fact. We wouldn’t have a housing boom if the middle class wasn’t buying,” Chikiamco said, pointing to a property de-

veloper and adding its condominium units are “always sold out and their buyers are middle class.”

On top of these concerns is the fact the Philippines has yet to pass the National Land Use Act (NLUA).

The bill, which has been languishing in Congress for over 20 years, promises to protect prime agricultural lands, to provide rationalized land-use planning in the country, to consolidate national laws on land uses, and to address longstanding land-use conflicts.

In 2016, in a report to the United Nations, the HUDCC said passing an effective land-use policy was crucial in meeting the challenges of rapid urbanization.

Today and tomorrow

EFFORTS that have been recently put in place by the government to meet the country’s long-standing housing needs include the introduction of the Balanced Housing in 2016 that took effect in 2017 to 2018. There was also the Manila Bay Mandamus, which was passed in 2011 and is now being implemented.

There’s also Republic Act 10884, or the Balanced Housing Development Program Act, which sought to amend the Urban Development and Housing Act of 1992. The law sought to make housing more affordable for Filipinos and encourage more participation of the private sector in socialized housing.

The law created one-stop shops nationwide for the processing, approval and issuance of clearances, permits and licenses to reduce the number of days in processing housing development down to 90 days.

The law requires owners and/ or developers of proposed subdivision and condominium projects to develop an area for socialized housing equivalent to at least 15 percent of the total subdivision area or total subdivision project cost and at least 5 percent of the condominium area or project cost, “at the option of the developer, in accordance with the standards as provided by law.”

Apart from this, recent efforts stated in the Manila Bay Mandamus have also started implementation. The mandamus ordered the Metropolitan Manila Development Authority (MMDA) to remove informal settlers near rivers that snake along the Pasig-MarikinaSan Juan route and the ParañaqueZapote-Las Piñas areas. Removal of ISFs along the Navotas-MalabonTullahan-Tenejeros River is also expected. The mandamus sought to demolish all these structures to help clean up the rivers and eventually Manila Bay. Ballesteros said the mandamus is forcing LGUs to take a look at their waterways and comply with the government’s policy to relocate informal settlers. This is also paving the way for LGUs to create housing and resettlement programs, she said.

DHUD deeds

ASIDE from these, the creation of the Department of Housing and Urban Development (DHUD) is a piece of legislation that is wellsupported by the current administration. Economic managers have endorsed the creation of the DHUD to “finally put an end to Filipinos’ housing woes.”

The bill has already been transmitted to the President by the Senate and is awaiting the President’s signature, according to the Chairman of the Senate Committee on Housing and Urban Planning, JV Ejercito.

However, much needs to be done to make the dream homes of Filipinos a reality.

Ballesteros pointed out that the mindset of the National Housing Authority (NHA), particularly on the delivery of housing units, has to change. She said the NHA considers “turnover” as the completion of a housing unit and not the actual turnover of a unit to an ISF or any other household.

She said this could be the reason why many government housing projects were left unoccupied.

Such was the state of the housing units in Bulacan that were claimed

by Kadamay members in 2017.

During a visit, Vice President and former HUDCC Chairperson Maria Leonor G. Robredo found the units in a sorry state: cracks on concrete walls and floors, rusted doorknobs, and warped front doors. “[For the NHA,] delivered means [there are] physical targets; they were able to build. Whether or not these houses will be occupied, they are considered delivered,” Ballesteros said. “But now, the DBM [Department of Budget and Management] is actively requesting that there will be residents for the NHA projects. This was included in their measures of quality.”

“It [should] respond to a need.

Otherwise, if nobody will occupy the unit, you are not responding to a need. When you say ‘need’ in housing, there are a lot of aspects.

You’re not just dealing with one type of commodity; one characteristic of a commodity,” she added.

Mixed-use tack

BALLESTEROS said the government should also look at mixed-use developments along major infrastructure projects as opportunities to create socialized housing projects. These include the Northrail and Southrail projects that are expected to address the housing needs of millions of Filipinos without endangering their sources of livelihood.

She said the NHA needs to step up in this regard since the bulk of the government’s housing budget is allocated for the agency.

Ballesteros added that even the Department of Public Works and Highways should also work with the NHA not only in terms of relocating residents when they expropriate right of way for projects but also find ways to incorporate housing in its projects.

“We still have a lot of areas for expansion. For instance you have this North and Southrail, they should already think about what can be done there. Imagine that development will run from Bicol to Manila, that’s a big size of land so government should plan. Part of that area should be for socialized housing,” Ballesteros said. “Until we do that, it will be the same chicken-and-egg situation. And NHA doesn’t listen.”

The BusinessMirror’s request to interview the NHA and the HUDCC remained unacted on as of press time.

Building houses for all Filipinos is not a one-man job. Ballesteros believes it’s time to move forward with participatory efforts that encourage the building not only of houses but also of communities.

The Filipino middle class, even the low income and poor, deserve to own a home. It is part of their “AmBisyon 2040” and it is their hope that this dream of owning a piece of the land of their birth will cease to be a dream but become their reality.

B6

The World BusinessMirror

Thursday, January 31, 2019

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

For US-China trade talks, hopes are high, expectations remain low C

China’s economic woes spread across Asia with more pain seen

W

ASHINGTON—US and Chinese negotiators start two days of high-level talks on Wednesday aimed at settling a sixmonth trade war that has weakened both sides, shaken financial markets and clouded the outlook for the global economy.

Yet, the odds seem stacked against any substantive resolution this week to the standoff between the world’s two biggest economies.

Perhaps the best that might be hoped for, analysts say, is for the two sides to agree to keep talking.

The differences between Beijing and Washington are vast.

The United States is essentially demanding that China downsize its economic aspiration to become a supreme world leader in such fields as robotics and electric cars.

“A comprehensive deal that fundamentally changes their system—I don’t think that’s possible,” said Christopher Adams, a former US trade official specializing in China and now a senior adviser at the law firm Covington.

Earlier negotiations f lamed out. And this time President Donald J. Trump might be inclined to drive an especially hard bargain after being forced to cave in a dispute with congressional Democrats that partially shut the federal government for 35 days.

Moreover, a new complication injected itself into US-China relations on the eve of the talks when the Justice Department brought cr imina l charges on Monday against the Chinese tech giant

Huawei, accusing it of stealing technology secrets and violating sanctions against Iran. Beijing shot back by demanding that the Trump administration pull back from what it called an “unreasonable crackdown” on the Chinese maker of smartphones and telecom gear.

“We are anticipating no big outcomes this week,” said Erin Ennis, senior vice president at the USChina Business Council.

A deadline looms. On March 2, the Trump administration is scheduled to escalate its tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent.

The American delegation to this week’s talks is led by Trade Representative Robert Lighthizer, a longtime critic of aggressive Chinese trade practices and of US policies that failed to blunt them.

Heading the Chinese team is Vice Premier Liu He. The core of the US allegations against China is that Beijing systematically steals trade secrets, forces foreign companies to hand over technology as the price of access to the Chinese market and subsidizes its own tech companies.

But compelling China to reform

its trade policies and treatment of foreign companies will be difficult. “ The idea of just grabbing [technology] however they can is kind of ingrained at this point,” said Amanda DeBusk, chairman of the international trade practice at Dechert LLP and a former Commerce Department official.

“You can’t just f lip a switch ” and expect China to drop longestablished practices.

The administration has imposed tariffs on $250 billion in Chinese imports; Beijing has retaliated with import taxes on $110 billion in US goods.

Trump has threatened to extend the tariffs to an additional $267 billion in Chinese goods. If he did, Trump’s import taxes would cover virtually everything China ships to the US. Last spring, it looked as if the two sides might avoid a full-blown conflict. Treasury Secretary Steven Mnuchin declared the trade war “on hold” after China had agreed to step up its purchases of US goods, especially in agriculture and energy, and narrow America’s huge trade deficit with China. The cease-fire didn’t last. Critics dismissed Beijing’s commitments as vague, and Trump backed away from Mnuchin’s deal and decided to proceed with tariffs.

The trade war has magnified uncer tainties for businesses, raised prices in some sectors and unsettled investors. Pointing to the US- China conf lict, economists at the International Monetary Fund, the World Bank and the Organization for Economic Cooperation and Development have downgraded their forecasts for global growth. The Dow Jones Industrial Average is down more than 8 percent since early October, though it

has rebounded since Christmas.

The Chinese economy is decelerating, having expanded last year at its slowest pace since 1990. US officials and some analysts said they believe its weakening economy will pressure the Chinese into making concessions.

“The economic circumstances are a powerful bargaining tool,” DeBusk said.

But she added, “the Chinese slowdown also impacts the United States.” Indeed, US heavy equipment maker Caterpillar reported on Monday that its China sales were slowing—news that sent its stock price tumbling.

Deepening the challenge is the US view that China has pledged in the past to curb cyber-theft and forced transfers of technology— and then failed to do so. Lighthizer is sure to insist that any agreement be enforceable.

“The odds of them stonewalling and rope-a-doping in this meeting are close to zero,” said Robert Atkinson, president of the Information Technology and Innovation Foundation think tank.

“What are they going to put on the table? Are they going to put tidbits on the table, or are they going to put something meaty on the table?”

The Justice Department’s decision to charge Huawei, meanwhile, “has thrown a curveball” into the talks, said Patrick Chovanec, chief strategist at Silvercrest Asset Management Group.

US officials insist that the Huawei case is entirely separate from the trade negotiations. But Atkinson said he thinks the Huawei indictment was meant to send a signal to the Chinese.

“This is about power politics,” he said, “to get them to do what they should be doing.” AP

UK leader seeks Brexit deal changes, but EU stands firm

L

ONDON—Br it ish Pr ime Minister Theresa May on Tuesday won a few weeks to salvage a Brexit deal but headed toward a clash with the European Union (EU) by promising to overhaul the divorce agreement she spent a year and a half negotiating with the bloc.

Trying to break the UK’s Brexit deadlock, May got Parliament’s backing for a bid to rework an Irish border guarantee in the withdrawal deal—a provision May and the EU both approved, and which the bloc insists cannot be changed.

“It is now clear that there is a route that can secure a substantial and sustainable majority in this House for leaving the EU with a deal,” she said, promising to “obtain legally binding changes to the withdrawal agreement” from the EU. The EU immediately ruled that out, insisting in a statement that the current deal with the UK remained the “best and only way” to achieve an orderly Brexit. French President Emmanuel Macron said the agreement “is the best accord possible. It is not re-negotiable.”

Guy Verhofstadt, the top Brexit official at the European Parliament, said there was “no majority to reopen or dilute” the deal.

It was the latest disorienting chapter in a Brexit process that has grown increasingly surreal since Parliament rejected May’s divorce deal two weeks ago, leaving Britain lurching toward a cliffedge no-deal” departure from the bloc on March 29.

A series of Commons votes on Tuesday on next steps submitted by both pro-Brexit and proEU legislators ended up sending starkly mixed signals, as lawmakers backed a call to renegotiate

BRITAIN’S Prime Minister Theresa May reacts as she addresses the House of Commons Parliament during the debate on Britain’s Brexit European Union Withdrawal Act in London on Tuesday. Seeking to break the parliamentary deadlock on Britain’s Brexit from Europe, May says she plans to seek a change on the divorce deal between Europe and the UK. JESSICA TAYLOR/UK PARLIAMENT VIA AP

the deal, and also approved a rival motion ruling out a no-deal exit.

May had urged lawmakers to “send an emphatic message” to the EU, but their response is likely to leave the bloc even more confused about British aims.

May believes her agreement can still win Parliament’s backing if it is changed to alleviate concerns about the Irish border measure, known as the backstop.

The backstop would keep the UK in a customs union with the EU in order to remove the need for checks along the border between the UK’s Northern Ireland and EU member Ireland after Britain leaves the bloc.

The border is crucial to the divorce deal because it will be the only land frontier between the UK and the EU after Brexit, and because the free flow of people and goods underpins both the local economy and Northern Ireland’s peace process.

Opposition to the backstop by pro-Brexit lawmakers—who fear it will trap Britain in regulatory lockstep with the EU—helped sink May’s deal on January 15, when Parliament rejected it in a 432 to 202 vote.

On Tuesday, Parliament backed,

by 317 votes to 301 votes, a call for the border measure to be replaced by unspecified “alternative arrangements.”

Leading “Brexiteers” praised the result. Former Foreign Secretary Boris Johnson said Parliament had sent a “clear, unambiguous” message that the backstop had to be removed.

“I hope that our friends in Brussels will listen and that they will make that change,” he said.

But Green Part y legislator Caroline Lucas, who wants a new referendum on Britain’s EU membership accused May of chasing “heated-up fantasies that have already been rejected by the EU.” May acknowledged that the EU had “ limited appetite” for changing the Brexit deal. But she vowed to go to Brussels and seek “significant and legally binding change” to the backstop. May’s office said that might include an end date to ensure it is temporary or an exit clause for Britain. Both of those ideas have been repeatedly rejected by the EU. “There can be no change to the backstop,” said Ireland’s European Affairs Minister, Helen McEntee.

“It was negotiated over 18 months with the UK and by the UK”

Lawmakers voted on seven Brexit proposals on Tuesday, including the border change supported by May and several measures that sought to rule out a “no-deal” Brexit.

Much of the business world says a no-deal Brexit would cause economic chaos by eliminating existing EU trade agreements and imposing tariffs, customs checks and other barriers between the UK and the EU, its main export market.

Most members of Parliament oppose leaving without a deal, but they rejected several proposals that tried to wrest control of the Brexit process from the government and give it to Parliament so lawmakers could stop Britain crashing out of the EU without a deal. Some opposition Labour Party members sided with the government, worried about being seen as obstructing Brexit.

Lawmakers approved, by a narrow 318 votes to 310 votes, a motion ruling out a no-deal Brexit but not saying how that should be achieved.

The vote is not legally binding, but has political force as an expression of the will of Parliament.

Tuesday’s ambiguous votes won’t mark the end of Britain’s turmoil over Brexit: There could be a rerun in two weeks. May said if she has not struck a new Brexit deal by February 13, Parliament would get to vote, again, on what should happen next.

Robert Hazell, professor of government and the constitution at University College London, said the EU was “pretty resolute in not being willing to reopen the negotiations unless the British government can come back with something more specific.”

“Tonight’s votes only kick the can down the road for another two weeks,” he said. AP

HINA’S weakening economy is roiling export markets in the rest of Asia— and there’s more pain to come.

From Hong Kong to Japan, exports data for December showed a marked downturn as supply-chain disruptions triggered by US-China tensions and a cyclical slowdown in the world economy, led by China, hit the trade-reliant region.

More bad news is in store for January: Bloomberg Economics’ early indicator shows China’s economy slowed further this month, while Thursday’s purchasing managers index is set to show another decline in factory output.

Nikkei PMIs for seven of the region’s economies are due on Friday, with four of them already in contraction or less than half a point from contraction. A separate business survey on Wednesday showed South Korea manufacturers’ confidence for February at the most depressed level since the global financial crisis a decade ago.

Hon g K on g ’s wor s e - t h a n expected plunge in exports was telling for its broadly subdued demand from the rest of Asia, e s p e c i a l l y M a i n l a nd C h i n a .

Tr a d e - d e p e n d e nt S i n g a p o r e posted its biggest fall in exports in more than two years, while in Indonesia, the biggest economy in Southeast Asia, the drop in shipments was the worst since mid-2017.

South Korea and Taiwan had a pair of ugly exports reports last week, and Japan followed with the second decline in four months.

January data for Vietnam, where trade accounts for twice the nation’s gross domestic product, showed a 1.3-percent contraction in exports from a year ago, the worst performance in five years.

C h i n a’s g ro w t h h a s b e e n stead i ly wea kening over t he years, reaching 6.6 percent last year, the slowest pace since 1990.

As the world ’s second-largest

economy, it contributes about a third of global growth.

Deeper slowdown

BEYOND China, exports in the region are also being hit by a cooling technology sector, which had buoyed powerhouses like Taiwan and Singapore for much of the past couple of years.

Bloomberg Intelligence analysts point to other economic data showing worsening conditions. Smaller dry bulk ships, which are “workhorses of global trade and not just China-dependent,” are signaling an unprecedented decline in activity, which probably means a deepening global industrial slowdown, according to BI analysts Rahul Kapoor and Chris Muckensturm.

From Apple Inc. to Caterpillar Inc., companies are feeling the pain. Caterpillar, the bulldozer manufacturer, posted its biggest quarterly profit shortfall in a decade on Monday, while Nvidia Corp., the largest maker of chips for computer graphics cards, cited deteriorating conditions in China for weaker consumer demand for its products.

A Bloomberg dashboard of 10 critical global trade indicators now shows two flashing red, with a couple more—expectations of German businesses and of China’s exporters—poised to slip into below-average territory.

O t he r t h i rd - p a r t y g au ge s also offer warning signs for the world’s exporters. An Asia exports index created by analysts at Nomura Holdings Inc., which is meant to give a three months ahead read on export growth in Asia ex-Japan, is at its worst level since October 2016.

Malaysia’s trade data are due on Wednesday, with economists projecting export growth will slow further. The Philippines will release December trade data on February 12. Bloomberg News

LAWMAKERS HOPEFUL OF AGREEMENT THAT WOULD PREVENT SHUTDOWN

W

ASHINGTON— Capitol Hill negotiators are hopeful of an agreement as they officially kick off talks on a homeland security spending bill that is trapped in a stalemate over President Donald J. Trump’s long-stalled border wall.

Left on their own, the seasoned House and Senate lawmakers say they could easily reach a border security deal as they have for two years in a row. But whether Trump would sign it is another matter altogether.

Trump has grown impatient and his demands on his US-Mexico border wall have become more insistent even though Democrats took back the House last fall. Democrats remain united against Trump’s vision for a massive wall project, yet some are signaling a willingness to deal in the wake of the 35-day partial government shutdown.

“We’ve consistently said that we do not support a medieval border wall from sea to shining sea,” said Rep. Hakim Jeffries of New York, the No. 4 House Democrat. “However, we are able to support fencing where is makes sense, but it should be done in an evidence-based fashion.”

“We’ve come to big agreements before,” said the Senate’s top Democrat, Chuck Schumer of New York. “What was the common theme? When the president stays out of the negotiations we almost always succeed.

When he mixes in, it’s a formula for failure.

So, I’d ask President Trump, ‘Let Congress deal with it on its own.’”

For their part, GOP leaders want to de-escalate the battle over the border wall and suggest they too could be flexible as bargainers seek a bipartisan agreement.

Senate Majority Leader Mitch McConnell, R-Ky., who pressured Trump last week to end the shutdown, warned the president against triggering another shutdown or declaring a national emergency on the Southwest boundary, a move that could let him redirect budget funds to building segments of the wall.

When asked to describe a border s e c u r i t y a g re e m e n t h e’d s u p p o r t, McConnell said, “I’m for whatever works

that would prevent the level of dysfunction we’ve seen on full display here the last month and also doesn’t bring about a view on the president’s part that he needs to declare a national emergency.”

A fresh, protracted crisis could make it difficult to tackle other upcoming business, such as a deal to prevent automatic budget cuts to the Pentagon and domestic agencies.

The longest shutdown ever was initiated

by Trump after Democrats refused his demand for $5.7 billion to build segments of his border wall. Polls show people chiefly blame Trump and Republicans for the shutdown and widely dislike the wall.

The president surrendered last Friday and agreed to reopen the government for three weeks so negotiators can seek a border security deal, but with no commitments for wall funds.

House-Senate bargainers plan their first negotiating session on Wednesday.

Trump has retreated increasingly from “wall” as it became apparent that he lacked the votes in Congress to win taxpayer financing for the project, which he initially said would be financed by Mexico.

“Inside the meetings we’ve had, he’s said it could be a barrier, it could be a wall,” said House Minority Leader Kevin McCarthy, Republican-California. “Because what a barrier does, it’s still the same thing. It’s the 30-foot steel slat, that’s a barrier.”

White House Spokesman Mercedes Schlapp said: “The president has perfectly set this table for the negotiations with Congress. He wants to give Congress one more chance.”

Democrats have repeatedly said they wouldn’t finance the wall, which House Speaker Nancy Pelosi, Democrat-California, has called “immoral.” In recent weeks, they’ve expressed support for fencing or physical barriers but have left ambiguous exactly what they would back. They’ve said they want to spend money on more border patrol agents and technology like scanning devices and drones. AP

B8 Thursday, January 31, 2019

PHOTOWORLD ASIA 2019 FEMALE SPEAKERS INTRODUCED

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NVITED artists and photographers deliver their lectures on the lucrative art of photography at the new activity center of Glorietta for this year’s PhotoWorld Asia from January 31 to February 5, together with the Asian Institute of Management.

Exhibits and sale of photography products also await participants.

Nonstop since 1987 the Federation of Philippine Photographers Foundation (FPPF), under the leadership of FPPF President Pablo Beltran, FPPF chairman Eduviges Huang and Photoworld Asia 2019 chairman Catalino Celzo Jr., has annually undertaken PhotoWorld Asia and continuously conducted daily photography seminars at the Fort Santiago, throughout the years.

This year’s speakers are all multi-awarded and seasoned female photographers to guide participants on the tricks of the trade.

Angeli Jane Blanco. She is not only a versatile public speaker but also an experienced lady in various areas of video production, advertising and marketing, public relations, news and socialmedia management.

Joan S. Bondoc. A graduate of the University of the Philippines major in Creative Writing, she shares her knowledge in photojournalism among participants based on her rich experience as a staff and correspondent photographer of various news outfits.

Marian Peachy Hernando. She is a prolific underwater photographer and also shoots landscapes, portraits, infrared and drone photography.

Jaja Samaniego. Samaniego is here to share many truths in photography which our participants will surely benefit. For 8 years now, she has focused on portraiture and wedding captured in its natural and immaculate setting.

Shaira Luna. A self-taught photographer, she excels in fashion and advertisting photography. Most of her pictures were used as illustrations for billboards of branded commercial products or her human-interest pictures as cover of national magazines.

RC Sustiguer. One of her expertise is on personal

BDO VOLUNTEERS EXTEND ASSISTANCE TO TYPHOON USMAN VICTIMS

I

NtheFilipinospiritof bayanihan, officers and staff of BDO branches in Albay, Camarines Sur, Northern Samar, Sorsogon and Western Samar mounted relief operations for thousands of families affected by Tropical Depression Usman.

branding and communication. Photographers, indeed, must also know how to communicate their personal brand to its audience. On that note, listen to her discuss Personal Brand as a Photographer.

Vivian Marasigan Valdez. At present she is a freelance photographer, events coordinator, mobile-phone workshop facilitator in schools and companies.

Hannah Reyes Morales. A multi-awarded, wellaccomplished photographer of Sony Philippines Inc., Hannah presents the art of telling stories through photography.

Rachel Lobangco. Although she has not taken any formal lesson in photography, she manages her Legs Eye View Studio at her penthouse.

Andrea Isabella Genota. She is a contributing photographer and writer for Explore Philippines magazine.

Aside from her published works, she also captured the 18th magazine cover, “Southern Sensations”, with cover personality Jake Cuenca.

Lisa Watson. She is an expert business and marketing specialist with over 25 years of agency, technology and consulting experience.

The volunteers visited more than 40 barangays in the said provinces and distributed close to 7,000 relief packs containing food, rice and water to help people cope with the effects of the calamity. More than 130 BDO employees

participated in the relief operations organized by BDO Foundation, the corporate social-responsibility arm of BDO Unibank. The relief work was led by BDO Sorsogon City branch head Manny Gutlay, BDO Polangui branch head Jovy Benipayo, BDO Catarman branch head Annalyn Dy, BDO Calbayog branch head Trinity Abesamis, BDO Tabaco branch head Gene Lupango and BDO Elias Angeles branch head Rene Tapel.

Acting as one of the first respondersinthewakeofcalamities, BDO volunteers provide aid to victims all over the country. The relief operations are in line with the disaster-response advocacy of BDO Foundation. As a followup to its relief efforts, the foundation pursues long-term rehabilitation and reconstruction programs in provinces hit by typhoons.

Considered one of the deadliest storms to hit the country recently, Typhoon Usman swept through Bicol, Calabarzon and Samar, affecting and displacing thousands of residents. Continuous rains, widespreadfloodinganddangerous landslides prompted government officials to place several provinces under state of calamity.

The World

www.businessmirror.com.ph

BusinessMirror

Thursday, January 31, 2019

B7

US intel heads list N. Korea, not border, as threat to US

W

ASHINGTON—Directly contradicting President Donald J. Trump, US intelligence agencies told Congress on Tuesday that North Korea is unlikely to dismantle its nuclear arsenal, that the Islamic State group remains a threat and that the Iran nuclear deal is working. The chiefs made no mention of a crisis at the US-Mexican border for which Trump has considered declaring a national emergency.

Their analysis stands in sharp contrast to Trump’s almost singular focus on security gaps at the border as the biggest threat facing the United States.

Top security officials including FBI Director Christopher Wray, CIA Director Gina Haspel and Director of National Intelligence Dan Coats presented an update to the Senate intelligence committee on Tuesday on their annual assessment of global threats. They warned of an increasingly diverse range of security dangers around the globe, from North Korean nuclear weapons to Chinese cyber espionage to Russian campaigns to undermine Western democracies.

Coats said intelligence information does not support the idea that North Korean leader Kim Jong Un will eliminate his nuclear weapons and the capacity for building more—a notion that is the basis of the US negotiating strategy.

“We currently assess that North Korea will seek to retain its WMD [weapons of mass destruction] capabilities and is unlikely to completely give up its nuclear weapons and production capability because its leaders ultimately view nuclear

weapons as critical to regime survival,” Coats told the committee.

Coats did note that North Korean leader Kim Jong Un has expressed support for ridding the Korean Peninsula of nuclear weapons and over the past year has not test-fired a nuclear-capable missile or conducted a nuclear test.

The “Worldwide Threat Assessment” report on which Coats based his testimony said US intelligence continues to “observe activity inconsistent with” full nuc lea r d isa r ma ment by t he North. “In addition, North Korea has for years underscored its commitment to nuclear arms, including through an order in 2018 to mass-produce weapons and an earlier law—and constitutional change—affirming the country’s nuclear status,” it said.

The report said Kim’s support at his June 2018 Singapore summit with Trump for “complete denuclearization of the Korean peninsula” is a formulation linked to an end to American military deployments and exercises involving nuclear weapons.

Trump asserted after the Singapore summit that North Korea

no longer poses a nuclear threat.

However, Coats and other intelligence officials made clear they see it differently.

“The capabilities and threat that existed a year ago are still there,” said Lt. Gen. Robert Ashley, the director of the Defense Intelligence Agency. Plans for a followup Trump-Kim summit are in the works, but no agenda, venue or date has been announced.

More broadly, the intelligence report on which Coats and the heads of other intelligence agencies based their testimony predicted that security threats to the United States and its allies this year will expand and diversify, driven in part by China and Russia. It says Moscow and Beijing are more aligned than at any other point since the mid-1950s and their global influence is rising even as US relations with traditional allies are in flux.

“Some US a l lies and par tners are seeking greater independence from Washington in response to their perception of changing US policies on security and trade,” the report said, without providing examples or further explanation.

The report also said the Islamic State group “remains a terrorist and insurgent threat” inside Iraq, where the government faces “an increasingly disenchanted public.”

The intelligence assessment, which is provided annually to Congress, made no mention of a crisis at the US-Mexico border, which Trump has asserted as the basis for his demand that Congress finance a border wall. The report predicted additional US-bound migration from El Salvador, Guatemala and Honduras, with migrants preferring to travel in caravans in hopes of a safer journey.

In Syria, where Trump has ordered a full withdrawal of US troops, the government of Bashar al-Assad is likely to consolidate control, with Russia and Iran at-

tempting to further entrench themselves in Syria, the report said. Asked for her assessment, Haspel said of the IS group: “They’re still dangerous.” She added that they still command “thousands of fighters in Iraq and Syria.”

The intelligence agencies said Iran continues to work with other parties to the nuclear deal it reached with the US and other Western nations. In doing so, they said, it has at least temporarily lessened the nuclear threat. In May 2018, Trump withdrew the US from that accord, which he called a terrible deal that would not stop Iran from going nuclear.

The intelligence assessment of Afghanistan, more than 17 years into a conflict that began after the 9/11 attacks on the US, projected a continued military stalemate.

Without mentioning prospects for a peace deal, which appear to have improved only in recent days, the report said, “neither the Afghan government nor the Taliban will be able to gain a strategic military advantage in the Afghan war in the coming year” if the US maintains its current levels of support. Trump has ordered a partial pullback of US forces this year, although no firm plan is in place.

Coats told the committee that Russia and perhaps other countries are likely to attempt to use social media and other means to influence the 2020 US presidential election.

“We expect our adversaries and strategic competitors to refine their capabilities and add new tactics as they learn from each other’s experiences, suggesting the threat landscape could look very different in 2020 and future elections,” the intelligence report said.

The report specifically warned about Russia’s cyber attack capabilities. “Moscow is now staging cyber attack assets to allow it to disrupt or damage US civilian and military infrastructure during a crisis,” it said. AP

VENEZUELA OPPOSITION URGES WALKOUTS TO PRESSURE MADURO

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ARACAS, Venezuela— Opposition leader Juan Guaido is looking to ratchet up pressure on President Nicolas Maduro with walkouts across Venezuela on Wednesday, just a day after the embattled socialist administration barred Guaido from leaving the country while he is investigated for anti-government activities.

The man challenging Maduro’s claim to the presidency is urging Venezuelans to step outside their homes and workplaces for two hours beginning at noon in the first mass mobilization since he declared himself the nation’s rightful leader a week ago during another round of big protests.

“Venezuela is set on change,” Guaido said.

The surge in political maneuvering has seen two dozen nations, including the United States and several big Latin American countries, backed Guaido, and the Trump administration has imposed sanctions that could starve the already distressed nation of billions in oil revenue.

But Maduro is holding firm in refusing to step down. He oversaw military exercises in recent days while seeking to consolidate support from the armed forces and he is accusing Washington of staging a coup.

On Tuesday, the Supreme Court barred Guaido from leaving the country after chief prosecutor Tarek William Saab announced that he was opening a criminal investigation of Maduro’s foe, who heads the opposition-controlled congress. Saab is a key Maduro ally and the high court is stacked with Maduro loyalists.

“Once more we’ll come out victorious,” Maduro, dressed in a green cap and shirt, said on Tuesday while standing before rows of troops. “We are on the right side of history.”

The court move came after US national security adviser John Bolton warned that the Maduro government would face “serious consequences” if Guaido is harmed.

Guaido has thus far managed to avoid arrest and the Supreme Court did not strip him of his legislative immunity, though the new investigation could signal that Maduro’s administration is moving to take a more punitive approach.

Speaking on Tuesday outside the National Assembly, Guaido said he was aware of personal risks.

“I don’t underestimate the threat of persecution at the moment, but here we are,” he said.

The US has emerged as Guaido’s most powerful ally, announcing on Tuesday that it was giving him control of Venezuela’s US bank accounts.

US Secretary of State Mike Pompeo certified that Guaido has the authority to take control of any Venezuelan government accounts at the Federal Reserve Bank of New York or any other US-insured banks. He said the certification would “help Venezuela’s legitimate government safeguard those assets for the benefit of the Venezuelan people.”

On Monday, the US imposed sanctions on Venezuela’s state-owned oil company, Petroleos de Venezuela S.A., that could potentially depriving the Maduro government of $11 billion in export revenues over the next year.

Venezuela’s economy is already ravaged by hyperinflation and widespread food and medical shortages that have driven millions of people to leave the country.

Maduro called the sanctions “criminal” and vowed to challenge the US in court. “With these measures, they intend to rob us,” he said.

Violent street demonstrations erupted last week after Guaido during a huge opposition rally in Caracas declared that he had assumed presidential powers under the constitution and planned to hold fresh elections to end Maduro’s “dictatorship.”

Under Venezuela’s constitution, the head of the National Assembly is empowered to take on the duties of the chief executive under a range of circumstances in which the presidency is vacated. The opposition argues Maduro’s reelection last May was a sham.

Guaido, a previously little-known lawmaker, has reinvigorated the opposition movement by pushing for three immediate goals: to end Maduro’s “usurpation” of power, establish a transitional government and hold a new presidential election.

The US State Department is telling Americans not to travel to Venezuela, warning of the threat of being arbitrarily arrested or caught in a protest.

Venezuela was put on the highest US level advisory, a list that also includes Syria, Afghanistan and Iraq.

The UN human-rights office says security forces in Venezuela detained nearly 700 people in just one day of anti-government protests last week— the highest such tally in a single day in the country in at least 20 years. It says more than 40 people are believed to have been killed.

Maduro’s allies blame the opposition for the violence and deny the high death toll as well as reports that minors were among those arrested.

Socialist party leaders have been organizing counterprotests by thousands of Maduro supporters in different parts of the country. AP

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

Sports

TIGER TAKES IT EASY

EVEN at his best, and when healthy, when Tiger Woods doesn’t win his first start of the year, it is written off in some corners as spring training. AP

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AN DIEGO—Tiger Woods wrapped up his week at Torrey Pines with a 67 to tie for 20th and said it was good to shake off some rust and see what needs work. It was his first competition in seven weeks, and only his second event since the Ryder Cup ended on October 1.

Whether it’s because of age or injury—both are relevant—keep in mind that for the first 12 years of his pro career, Woods never finished outside the top 10 in his first event of the year, winning six times. The streak ended at the Match Play in 2009 after he sat out eight months recovering from reconstructive knee surgery.

Dating to 2009, he has finished in the top 10 just twice in his first event of the year—a tie for fourth in the 2010 Masters and a tie for third in Abu Dhabi in 2012.

Even at his best, and when healthy, when Woods didn’t win his first start of the year, it was written off in some corners as spring training. Everything was geared toward that first full week at Augusta National. In some respects, that remains true.

It’s about peaking four weeks every year, and Woods said that starts “months out.” But when does it become important to start seeing results? “Just want to keep building, keep getting [more] crisp,” Woods said. “It’s hard to peak for four major championships.

It’s not easy. I’ve only done it 14 times.”

Most players would love to peak at majors half as much—if that many—in their careers. While conceding that “only” 14 sounds like a lot, Woods put it into context by referencing Jack Nicklaus winning “only” 18 times in 164 majors.

“It’s not easy to do,” said Woods, who has played 80 majors, six as

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WHETHER IT’S BECAUSE OF AGE OR INJURY—BOTH ARE RELEVANT—KEEP IN MIND THAT FOR THE FIRST 12 YEARS OF HIS PRO CAREER, TIGER WOODS NEVER FINISHED OUTSIDE THE TOP 10 IN HIS FIRST EVENT OF THE YEAR, WINNING SIX TIMES.

an amateur. “It’s hard to have mind, body and soul come together at the same time. Luckily in this sport, we have four chances per year.”

What has his attention this year is not getting ready for the Masters, but the quick turnaround for the next one, with the Professional Golfers’ Association Championship moving to May. Last year, for example, there were nine weeks between the Masters and the US Open. Now, there are four weeks between the Masters and the PGA. “It’s very different because it feels like it’s our Players Championship week,” Woods said. “I’m familiar with the new date where we are with the Players [March]. That’s not a big change for me. But having the PGA in May is going to be a little bit different.”

MILLER TIME

Thursday, January 31, 2019

SATURDAY at the Waste Management Phoenix Open is typically about the volume and antics on the par-3 16th hole. This year, NBC Sports will devote a fair amount of the broadcast saying goodbye to Johnny Miller, the biggest voice in golf over the last 30 years.

Miller announced last fall he would retire. The third round will be his final day, so nothing will detract from the winner on Sunday.

The two-time major champion never had a problem saying what he thinks. This time, his biggest concern is guarding his emotions.

“This is going to be quite the one-day telecast for me,” Miller said. “Yeah, I’ve given a lot of thought about this last event for me.

I know it’s time. I could feel it was time to step down, but I stepped down a little early in my playing career, and I think maybe I’ve done the same thing here with my announcing career.

“I’m looking forward to trying not to cry, basically.”

Miller will be joined briefly in the booth on Saturday by Paul Azinger, who replaces him as the lead analyst at NBC, and then Azinger will call the shots on Sunday. Azinger’s first full tournament

as Miller’s replacement will be the Mexico Championship.

NEW RULES

EACH week of the new year seems to bring a new rules debate, whether it’s the knee-high drop or putting with the flagstick still in the cup. On Sunday in Dubai, it was the rule created to keep caddies from lining up the player.

And the debate was between two administrators.

Li Haotong was penalized two shots on the 18th green when he began to take his stance on a short putt with his caddie behind him. The caddie stepped away immediately and it appeared there was no intent to align him. If Li had stepped away and began his routine anew, there would not have been a penalty. But he was docked two shots, turning his 71 into a 73, and his tie for third into a tie for 12th, a difference of about $100,000. After outrage on social media for how bad it looked, European Tour chief Keith Pelley issued a statement saying that while the officials made the right call by the strict wording of the rule, the officials should have been allowed some discretion in applying the rule. He referred to the outcome as “grossly unfair.”

Pelley said there needs to be a proper balance between maintaining integrity and promoting golf’s global appeal.

That prompted a statement a short time later from Martin Slumbers, chief executive of the R&A, which read more like a rebuke that even the modernized Rules of Golf that took effect on January 1 are not designed for officials to apply them based on how it looks.

“Whether the player intends to be lined up is not the issue,” Slumbers said. “We appreciate that it was a very unfortunate situation, and I completely understand Keith Pelley’s concerns when a rules incident occurs at such a key stage of a European Tour event.

But there is no discretionary element to the rule precisely so that it is easier to understand and can be applied consistently.”

BHATIA’S PATH

AKSHAY BHATIA tried again to get into his first PGA Tour event. He made it through the pre-qualifier, but then missed by three shots in Monday qualifying for the Farmers Insurance Open.

The 16-year-old from North Carolina plans to turn pro when he finishes high school, though the amateur game still holds plenty of appeal. He already is the first boy to win the Junior PGA Championship in consecutive years since it began in 1976. He would love to repeat in the Junior Invitational at Sage Valley in Augusta, Georgia, again. He wants to be the No. 1 amateur, win the US Amateur and play on the Walker Cup team this year.

“I know I can do it as long as I work on the right things,” Bhatia said. Bhatia recently was featured in the Whistle Sports’ docuseries No Days Off, which looks at prodigies in various sports. It showed a teen who is relentless in his work ethic, and Bhatia doesn’t mind a perception that he is all golf and no play.

“It doesn’t bother me what people think,” he said. “I do have a life. I do have fun.” But he loves his golf. He says he has tried Monday qualifying since he was 14, and once got into a playoff for the final spot at a Web.com Tour event at his home course. In the meantime, he has three American Junior Golf Association victories, winning the Polo Golf Junior Classic by 10. He won his second Junior PGA by holing a 40-foot eagle chip on the 18th hole to win at Valhalla.

“Especially in this game, you have to learn how to win, learn how to close,” Bhatia said. “Any time you can put yourself in position like that, it’s definitely key because it helps going to the PGA Tour and the Web.com Tour.”

ROSE, SCOTT HIT $50-M MILESTONE

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AN DIEGO—Justin Rose won at Torrey Pines. Adam Scott challenged him to the final hole. And thanks to that 1-2 finish at the Farmers Insurance Open, both surpassed $50 million in career earnings on the Professional Golfers’ Association (PGA) Tour.

It’s a feat achieved by only five other players. These days, it’s little more than a monetary milestone.

But it was fitting they did it together.

Born 14 days apart in July 1980, they have been great friends since they tussled in South Africa at the Alfred Dunhill Championship in January 2001. Both were 20.

Scott made a 4-foot birdie putt on the last hole to beat Rose and win for the first time as a pro. Oddly enough—or maybe not—Rose won his first professional title a year later in the same tournament.

What makes the timing so appropriate that both joined the $50-million club on the same day is that their PGA Tour careers effectively began together, with a little help from the men who now run the PGA Tour (commissioner Jay Monahan) and the PGA of America (chief executive Seth Waugh).

Go back to a rainy Labor Day in 2003 on the TPC Boston to find Scott closing with a 66 for a four-shot victory in the inaugural Deutsche Bank Championship, which had given him a sponsor exemption. The victory gave him

instant PGA Tour membership. Rose also was given an exemption, shot 67 in the final round and finished third.

He earned $340,000 that day, giving him enough money to earn a tour card.

Waugh at the time was CEO of Deutsche Bank Americas, the title sponsor of a new tournament that had the Tiger Woods Foundation as the charitable arm. Monahan was hired as the tournament director.

“We gave them both exemptions,” Waugh said on Tuesday from Buenos Aires, Argentina, where he was caddying for his son in a PGA Tour Latinoamérica qualifying tournament. “Adam was pretty obvious. Jay called me and said, ‘Let’s talk about exemptions,’ which I’d never done.”

Monahan mentioned using a special exemption for international players on an English kid who had had a good British Open, turned pro and missed 20 consecutive cuts before getting his career on track. Waugh already was aware he was talking about Rose, who had won on three tours (Europe, South Africa and Japan) the previous year.

And then Waugh really got to know him.

“We get to the pro-am draw party on Wednesday night at the statehouse in Boston,” Waugh said. “It was a formal deal. Mitt Romney was the governor, and we’re all giving our suit speeches. There’s this tall kid by the seafood bar eating shrimp and looking lonely. I walk up

WHAT makes the timing so appropriate that Justin Rose and Adam Scott joined the $50-million club on the same day is that their Professional Golfers’ Association Tour careers effectively began together. AP

to him and said: ‘How are you doing? Are you Justin Rose?’

I said, ‘What are you doing here?’

“He said Deutsche Bank was nice enough to give him an exemption, and he thought he would come up and thank somebody,” Waugh said. “He was staying all the

way in Providence. I said, ‘You just did.’ But that’s Justin. No agent, nobody telling him what to do. He ended finishing third. And the rest is history.”

The history between Scott and Rose was just getting started. They have piled up victories around the world,

amassing long streaks of winning. Scott went 14 consecutive years with at least one victory worldwide and has 27 for his career. Rose won on Sunday for the 22nd time worldwide, extending his streak to 10 consecutive years with at least one victory, including his gold medal at the Rio de Janeiro Olympics.

They now are neighbors at Albany in the Bahamas, both married with two children.

They each have won one major, which they won consecutively. Scott finally delivered Australia a green jacket when he won the 2013 Masters. Rose sent him a text message of congratulations, which prompted this famous reply from Scott: “This is our time.”

Two months later, Rose won the US Open at Merion.

He had practiced the week before the Masters with Scott in the Bahamas, even played a couple of rounds together.

“I took his money both times,” Rose said.

And then Scott won the Masters, which made the text exchange really hit home.

Indeed, it was their time, and they kept going. Scott reached No. 1 in the world in the spring of 2014. Rose reached No. 1 in the world late last summer, and the Englishman extended his lead atop the world ranking with his two-shot victory at Torrey Pines. AP

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Thursday, January 31, 2019

B.C.D.A. INTRODUCES SMARTRACKS AT NEW CLARK CITY ATHLETICS STADIUM

SEAG BETS GET BOOST T DAVAO CITY Mayor Sara Duterte-Carpio embraces sports development in the region.

MAYOR SARA PRAISES SPORTS AGENCY

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AVAO City Mayor Sara DuterteCar pio thanked Philippine Spor ts Comm ission (PSC) Chairman William “Butch” Ramirez— along with other prime movers—in making the Davao City-University of the Philippines (UP) Sports Complex a reality, thus, making the city’s hosting of this summer’s Palarong Pambansa possible.

Duterte-Carpio made the remarks as she welcomed more than 7,000 delegates from 11 delegations during the opening ceremony of the Davao Region Athletic Association Meet on Sunday.

Duterte-Carpio thanked Ramirez, Secretary Mark A. Villar of the Department of Public Works and Highways, Secretary Leonor M. Briones of the Department of Education, UP and Rep. Isidro Ungab for “coming together in helping the city government of Davao.”

“Thank you very much sa inyo ha [to all of you],” she said.

“It’s an honor to work with the father before, who is now the President [Duterte], and also serve Mayor Inday Sara in whatever endeavor,” Ramirez said. Ramirez said that the realization of the Davao City-UP Sports Complex started from then-Mayor Duterte, UP Mindanao and Ungab.

“We are happy to support the mayor even after the Palarong Pambansa,” Ramirez said, adding that the PSC is

also committed to provide sports medicine and science lectures and provide accredited coaches for Davao City and Davao Region after the Batang Pinoy Mindanao leg.

He also said that, besides Davao CityUP Sports Complex, PSC would also work with schools, colleges and universities of other local government units.

“With the leadership of Mayor Inday Sara, we can create a Davao City and Davao region genuine grassroots sports path, which will be a legacy of Duterte government,” said Ramirez, a former Davao City sports chief under then-Mayor Duterte and later Mayor Sara Duterte-Carpio.

Ramirez cited Duterte-Carpio’s political will and vision in sports and governance.

“If Davao and the region will have a unified sports program, it will not only bring honor and pride but will enhance the quality of life of Dabawenyos and instill pride, prestige and excellence among them,” he said.

PSC donated more than P100 million for the second phase of the construction of the Davao City-UP Sports Complex.

The sports agency also brought its engineers and architects to provide technical guidelines on the construction of the Davao City-UP Sports Complex to conform with standards for national and international competitions.

HE Bases Conversion and Development Authority (BCDA) and its partner, MTD Philippines Inc., has introduced a new state-of-theart device that would help boost Filipino athletes’ campaign in the athletics competitions of the 30th Southeast Asian Games. The BCDA introduced the SmarTracks, a tracking technology that documents performances of athletes real time. The new facility will soon be used in the Athletics Stadium at the New Clark City.

“We want the best for our athletes so this new state-of-the-art facility is an added value to the world-class infrastructure we’re developing in New Clark City,” BCDA President and CEO Vivencio Dizon said.

A live demonstration led by MTD Philippines was conducted recently at the PhilSports oval in Pasig City. National athletes and coaches participated in the live demonstration, which was witnessed by members of the Philippine Sports Commission and Philippine Athletics Track and Field Association (Patafa). SmarTracks, the first of its kind in athletic performance tracking technology, enables athletes and coaches to improve their training by recording vital data on team and individual performances. Its automated timing system will help athletes monitor their progress and adapt their training more efficiently.

The new facility eliminates the need for manual tracking by instantly providing information to our athletes and coaches. Sprinters wore a belt with a sensor to accurately measure their speed, number of footsteps and length of every step on each sprint.

“It’s great for the morale. ‘Great atmosphere to see the interest, the demonstration and the explanation going on. Our athletes performed well in prac-

tices and it was probably the best practice of the season,” Patafa Head Coach Rohsaan Griffin said.

Malacañang, meanwhile, ordered concerned agencies to support the country’s hosting of the SEA Games from November 30 to December 11.

In Memorandum Circular 56 dated January 25 and signed by Executive Secretary Salvador C. Medialdea, the government directed all agencies, government-owned or -controlled corporations and local government units to “extend their support to the Philippine Southeast Asian Games Organizing Committee” for the staging of the biennial event.

“The successful organization and hosting of the 30th SEA Games requires

the involvement, coordination and support of concerned government agencies, the different national sports associations and the private sector,” the document said. It added: “Local government units, nongovernment organizations, the private sector, educational institutions and the general public, are hereby encouraged to lend their cooperation and support to ensure the successful conduct of the 30th SEA Games.”

The Palace also encouraged the PSC, Philippine Olympic Committee and national sports associations “to support each other for the effective preparation and successful participation of the local delegates.”

Ramon Rafael Bonilla

BASES Conversion and Development Authority President and CEO Vivencio Dizon says SmarTracks is expected to boost athletes’ performances.

MERALCO WINS TNT’s RR Pogoy goes for the basket against Meralco’s Ranidel de Ocampo and Cliff Hodge during their Philippine Basketball Association Philippine Cup game on Wednesday night at the Cuneta Astrodome. Pogoy scores 15 points, but the Bolts run away with the victory, 88-77.

Ilagan City hosts two major athletics events

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B R R B

LAGAN CITY is set to stage two big events, with the Isabela capital hostingthe 14th Southeast Asia Youth Athletics Championships and the Philippine Athletics Championships in March.

All eyes will be on the Philippine Athletics Championships from March 6 to 8, which will serve as a fitting warm-up and exposure for athletes for the 30th Southeast Asian Games the country is hosting late this year.

Competitions will be staged at the Ilagan Sports Complex with athletes from 10 Southeast Asia countries, along with representatives from the United Arab Emirates, Jordan, Hong Kong, Sri Lanka, India, Mongolia and Chinese Taipei

competing. Forty-four events—all of which are on the 30th SEA Games—are at stake, including two mixed gender relays.

Philippine Athletics Track and Field Association (Patafa) President Philip Ella Juico said that the annual competition, which is now on its fifth year under his term, will help determine the preparedness of the national athletes for the SEA Games. “This year will be a very big year because of the SEA Games. The timing is perfect,” Juico told a press conference at Elm’s Kapihan and Bar in Pasig City on Wednesday.

“This National Open will feature the biggest number of delegation because of the SEA Games.

It will also serve as a selection for those who deserves to be on the national team,” he added.

Veteran athletes, including those who are based abroad, will compete in the National Open. These are Eric Cray, Trenten Beram and Kayla Richardson.

Pole vaulter EJ Obiena will also return to the country after his training in Europe.

Ilagan City Councilor Jay Eveson Diaz said that the city is 95-percent ready to host the event.

“This is our third time, and we’re confident to stage it successfully. We are just putting finishing touches,” Diaz said. The provincial capital will also welcome 11 countries, including the junior team of the Patafa, in the March 2 to 3 SEA Youth Athletics tournament.

Athletes aged 13 to 17 will vie in 38 events and in two mixed gender relays.

MIGHTY 5 FLIES TO DUBAI WITH RENEWED CONFIDENCE

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IGHTY Sports leaves for the United Arab Emirates on Thursday with a determination to figure prominently in the tough 30th Dubai International Basketball Championship at the Sbabab Al Ahli Club.

The 10-club tournament opens on Friday with Coach Chris Tiu and team owner Alex Wongchuking hoping the addition of former Los Angeles Lakers Lamar Odom, Chinese league veteran Randolph Morris and exciting Fil-Am players like Jason Brickman and Roosevelt Adam will help the team get off to a winning start.

“Although our team is still a work in progress, we will go to Dubai with a mission of slaying the ghost of 2017 [when the team fared poorly],” Wongchuking said. “It’s a tough mission, but I am confident they will do their best to give honor to our country.”

The team backstopped then by 7-foot-3 Hasheem Thabeet and Justin Brownlee could only produce one win in seven games after bungling three winning opportunities that ruined its title bid.

Having experienced the kind of play in the annual tournament considered as one of region’s prestigious events, Brownlee is hoping his second tour of duty will yield better results.

“We’ll do our best to win the championship,” said the charismatic import of Ginebra in the Philippine Basketball Association.

Although Odom is still struggling to get his rhythm, Tiu remained hopeful the 6-foot-10 National Basketball Association veteran could still help the team backed by SMDC, Go For Gold, Healthcube and Oriental group .

“The team is improving, and even the

locals are doing OK,” said Tiu after the team’s pulsating 98-97 win over Magnolia in Tuesday’s tune-up game.

Tiu was referring to crafty University of the Philippines guard Juan Gomez de Lianno, who sizzled with 16 points. Brickman is the same player who helped Mighty Sports rule the Jones Cup three years ago via an eight-game sweep.

“He will play a big role and he’s going to be the stabilizer. He can drop long bombs at any given time,” assistant team manager Edrick Ferrer said.

Also in the team are former pros Joseph Yeo and Jett Manuel, Gab Banal, College of Saint Benilde’s Justin Gutang, Santy Santillan and Angelo Wongchuking.

Xavier star Woody Co, Ateneo’s Dean Castano and multi-titled Jong Uichico are Tiu’s assistants.

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PERPETUAL HELP EYES VOLLEYBALL SWEEP

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NIVERSITY of Perpetual Help System Dalta shoots for league history as it tries to sweep the 94th National Collegiate Athletic Association (NCAA) volleyball championships this week.

The Lady Altas eked out a thrilling 25-17, 27-29, 19-25, 26-24, 16-14 victory over the College of Saint Benilde Lady Blazers on Tuesday night at the Filoil Flying V Centre to join the Altas and Junior Altas in the men’s and juniors divisions finals, respectively.

Perpetual Help is hoping to become the third team after former member Ateneo de Manila (1975) and San Sebastian College (1984, 1994, 1995, 1996 and 2002) to wield the broom in the finals.

Perpetual Help tackles defending champion Arellano University in the women’s section, faces Saint Benilde in the men’s side and clashes with Letran in the juniors’ class in best-of-three series starting on Friday.

Game Two is on February 8, while a deciding Game Three, if necessary, is on February 12. “We just want to preserve the tradition in excelling in NCAA volleyball and make our Perpetual Help officials and supporters proud,” said Perpetual Help athletic director Sammy Acaylar, who also coaches the men’s squad.

Perpetual Help’s men’s and juniors’ teams made it to the finals first by sweeping their respective nine-game eliminations assignments.

The Altas are gunning for their second straight title—seventh in the last nine seasons and 12th overall—while the Lady Altas are eyeing their fourth title after snaring a three-peat feat in 2011 to 2014.

The Junior Altas, meanwhile, are aiming for their fifth consecutive crown and 11th overall.

Thursday, January 31, 2019

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THAI TIES KOREAN C

HONLADA CHAYANUN birdied the last hole to card a three-under 69 and catch Hwang Min-jeong at the helm even as Princess Superal charged back at the finish to fire a 68 and pull within one after two rounds of the International Container Terminal Services Inc. (ICTSI) Splendido Ladies Classic in Laurel, Batangas, on Tuesday.

Chayanun, out reassert the Thais’ domination on the Ladies Philippine Golf Tour (LPGT) after placing fourth in last week’s Beverly Place Classic, bucked a bogey start with a cluster of birdies, hitting five in a nine-hole stretch from No. 2 then holing out with another birdie from 10 feet on the 18th to cushion the impact of a bogey-bogey mishap from No. 12.

But her 33-36 card in windy condition proved enough to overhaul a three-stroke deficit for a shared view of the top at four-under 140 as Hwang struggled with a two-birdie, two-bogey effort for a 72 after a near-impeccable 68 on Tuesday that netted her a huge lead in the early going of the P750,000 tournament serving as the fourth leg of the 2018-2019 season of the circuit put up by ICTSI. Looming large at 141, however, is Superal,

who broke a run of pars with solid iron play that saw her birdie the frontside par-3s on Nos. 6 and 8. She then came out of a birdie-bogey game from No. 11 with a birdie on No. 15 before drilling in a 20-foot putt on the closing hole for a pair of 34s.

The reigning Order of Merit champion actually rued her daylong battle with a balky driver but relied on her 5-wood for fairway shots and steady putting to put her back in the thick of the fight for the top P150,000 purse in the 54-hole event organized by Pilipinas Golf Tournaments Inc. “I couldn’t hit my driver the way I wanted to. But I hit solid fairway shots with my 5-wood and made even the long putts,” said Superal, who wavered with late bogeys that marred her opening 73 that dropped her five strokes off the Korean ace.

Chayanun fell farther back off Hwang with a bogey on the first hole but the 27-year-old Bangkok native rattled off birdies on Nos. 2, 4, 5 and 7 from close range, added another on the 10th but yielded strokes on Nos. 12 and 13. She, however, set up a 10-foot birdie putt on the 18th and made it to gain a clear shot at the crown.

Despite her mediocre 72, Hwang remained

confident of her chances but stressed the need to heed her caddie-father’s advise, particularly on the putting green.

“I couldn’t get the right reads and missed a lot of birdie chances. I could’ve posted an eightunder card. But it’s all my fault because I didn’t listen to my father,” said the 17-year-old Hwang, seeking to launch her pro career with a victory here at Splendido Taal Golf Club.

Another Thai Narisara Kerdrit blew a twounder card with a double-bogey on the 18th, settling for a 72 and a 147 and enabling compatriot Punpaka Phuntumabamrung to move to solo fourth at 146 after a 75, virtually reducing the title chase among Chayanun, Hwang and Superal.

Other 147 scorers were Marvi Monsalve, who matched par 72 to emerge the second best Filipina placer at joint fifth with Wad Phaewchimpee, who fumbled with a 74.

Thais Pimpadsorn Sangkagaro and Saraporn Chamchoi pooled identical 148s after a 76 and 77, respectively, while Korean Choeun Bang shot a 73 to tie amateur and Princess sister Eagle Ace and Thai Mookharin Ladgratok, who both skied to 77s for 149s.

CHONLADA CHAYANUN rallies to seal a final-round shootout.

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Sports BusinessMirror

Thursday, January 31, 2019

CHAMPION NURMAGOMEDOV FINED $.5M, MCGREGOR $50K

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THE United Arab Emirates’ Said Rashid (foreground) and Qatar’s Salem Al Hajri (left) and Abdelkarim Hassan jump for the ball during their semifinal match on Tuesday. AP

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AS VEGAS—Ultimate Fighting Championship (UFC) lightweight champion Khabib Nurmagomedov was fined $500,000 and suspended for nine months for a brawl inside and outside the octagon after his fight with Conor McGregor at UFC 229. McGregor was fined $50,000 and suspended for six months.

Nurmagomedov’s suspension can be reduced by three months if he participates with Las Vegas police in an anti-bullying public service announcement, according to a settlement approved on Tuesday by the Nevada Athletic Commission. The commission must approve the PSA and how it’s distributed. Nurmagomedov’s fine will be taken from his share of the purse for the October 6 fight. The suspensions for both fighters are retroactive to October 6.

Nurmagomedov climbed over the cage and scuffled with a fighter in McGregor’s corner after McGregor (21-4) tapped out during a chokehold

by Nurmagomedov (27-0) in the fourth round of UFC 229. Video showed McGregor both trying to climb the cage to apparently join fighting outside and attempting to strike another person doing the same.

McGregor and Nurmagomedov had been suspended since shortly after the fight and remained so while the brawl was under investigation.

Nurmagomedov has said previously on social media that he was being unfairly punished. He complained that discipline didn’t follow an incident last April in Brooklyn, New York, when McGregor shattered windows on Nurmagomedov’s bus with a wheeled cart. AP

THE Cavaliers’ Jordan Clarkson shoots against the Bulls’ Wayne Selden Jr. AP

PART OF THE GAME

CLIMB EVERY MOUNTAIN

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EMBIID POWERS 76ERS VS. LAKERS L

OS ANGELES—Philadelphia 76ers Coach Brett Brown decided to experiment with his lineup during Tuesday night’s game against the Los Angeles Lakers. If one game is any indication, Brown can consider it a success. The Sixers led throughout and were up by 24 in the second quarter as they rolled to a 121-105 victory over the short-handed Lakers.

Joel Embiid scored 28 points and grabbed 11 rebounds from his usual spot in the middle, but Jimmy Butler and Ben Simmons thrived in new roles. Butler had 20 points and six assists in his first game at point guard, and Simmons scored 19 while playing the stretch 4—power forward with the range of a shooting guard.

“I think Jimmy did an amazing job getting everyone open. We still need to work on stuff to get better, but it was an amazing start,” said Embiid, who had his National Basketball Association-leading 34th game with at least 20 points and 10 boards.

Brown said he changed the lineup because he wanted to learn more about his team with the trade deadline less than two weeks away and with an eye toward possible matchups in the playoffs.

“There were some good things that came out of it,” Brown said. “These are things to help us win, and it gives us a greater level of knowledge about how we need to grow our team.”

Brandon Ingram had a career-high 36 points for the Lakers, who were missing Kyle Kuzma (hip) along with LeBron James and Lonzo Ball. Butler was back after missing three games due to a sprained wrist. He got off to a quick start with nine points in the first quarter as Philadelphia ran off 12 straight points to take control early. The Sixers extended their lead to 38-17 late in the first and were up 39-20 at the end of the period as they went 15 of 27 from the field and forced eight turnovers.

“It felt good playing the point,” Butler said. “It’s a different look.

We’ve got so many guys that do so many things well that it allows us to get to the basket more.”

Simmons, who had 11 points in the first 12 minutes, said he liked the new-look lineup because he felt less pressure.

A three-pointer by Landry Shamet gave Philadelphia a 48-24 advantage with 8:14 remaining in the second before Los Angeles scored 16 straight points to get within eight. Ingram scored nine of his 15 points in the quarter during that run. The Sixers answered with a pair of three-pointers by Wilson Chandler and went into halftime with a 64-53 advantage.

The Lakers got to 80-71 midway through the third quarter on a pair of free throws by Ivan Zubac, but Shamet and Embiid hit threes to put Philadelphia’s lead back in double digits. “We definitely gave them momentum at the start. We fought back, but they pretty much had a rhythm throughout the game,” Ingram said.

The Sixers went up by 19 in the second half. The only scary moment for them came early in the fourth quarter when Embiid appeared to hurt his back falling down on an alley-oop attempt. He returned later in the game and said he was fine. AP

TESSA JAZMINES tessa4347@gmail.com

QATAR UNITED Arab Emirates fans throw bottles at Qatari players on the pitch—an act which is considered to be an insult. AP

IN FINAL

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BU DHABI, United Arab Emirates—Amid shoes being thrown in insult, Qatar won its politically charged match against host UAE, 4-0, on Tuesday and advanced to the Asian Cup final.

The Qataris, who will host the World Cup in 2022, have won all six of their matches and have yet to concede a goal—the first country to do that at the continental soccer championship.

“It’s very important and one of the main keys why we are qualified for the final,” Qatar Coach Felix Sanchez said about the clean sheets. “I think, obviously to not concede goals gives you more opportunities to go forward.”

Qatar will face four-time champion Japan on Friday in the final. Both teams were invited last year to play at the Copa America in 2019, giving the winner of this week’s match a chance to win a second continental title in July.

A regional boycott of Qatar, led by Saudi Arabia, has impacted the team’s logistics at the Asian Cup and made it difficult for the country’s fans to attend games.

The UAE, Bahrain and Egypt are also part of the boycott.

The Qataris, however, have denied accusations that they support extremists.

On the soccer field, Qatar beat Saudi Arabia, 2-0, in the group stage before the 4-0 rout of UAE on Tuesday at the Mohammed Bin Zayed Stadium.

“I would like to apologize to the UAE fans for the result,” UAE Coach Alberto Zaccheroni said. “We all made mistakes, but everyone did their very best. We wanted to make the UAE people happy, and we tried until the end. However, we have to admit that the Qatar team was better.”

Boualem Khoukhi gave Qatar the lead in the 22nd minute, and Almoez Ali doubled the advantage 15 minutes later.

The second goal prompted the UAE fans to start throwing their

shoes at the Qatari players, an act which is considered to be an insult.

“It is not an easy situation but I think, I have to say that in general, it was fair play,” Sanchez said. “This is only a few people that you have to take in consideration.”

The Asian Football Confederation (AFC) said it could launch an investigation.

“Any incident of this nature will be contained in the official match report, which will then be investigated by the AFC,” the soccer body said.

Ali’s goal was his eighth of the tournament, equaling the record set by Iran forward Ali Daei in 1996 when the Asian Cup was also hosted by the UAE. The 22-year-old Ali will have a chance to break the record against Japan on Friday.

Qatar added two more goals late in the match, the first from Hasan Al Haydos in the 80th minute and the last from Hamid Ismaeil seconds after coming off the bench with time winding down.

The UAE played the final seconds with 10 men after Ismail Ahmed was sent off for a rough tackle.

Atletico Madrid’s fitness trainer, meanwhile, was detained and released after being accused of violence against women, Spanish police said on Tuesday.

Oscar Ortega was taken into custody late on Monday and released after appearing before a judge on Tuesday. He was not immediately charged with any crime.

Spanish news agency EFE said Ortega’s wife sent the agency a statement saying she never accused him of any wrongdoing. She said a misunderstanding led to another person contacting authorities without her consent.

The case will be heard by a court that handles violence against women. No other details were immediately released.

Atletico Madrid says it will not consider taking any action until all details are available. Ortega attended the team’s practice session on Tuesday afternoon. AP

T’S back to the drawing board for Coach Mark Sangiao and the legendary Team Lakay, the country’s proud exponents of martial arts that owned four of eleven ONE Championship crowns in various divisions as the new year began.

The charismatic Eduard Folayang, widely rewarded as the face of Philippine martial arts, ruled over the lightweight division; the explosive Kevin Belingon, the bantamweight crown; whiz kid Joshua Pacio, the strawweight category and Geje Eustaquio, the flyweight class.

But just one week before ONE: Hero’s Ascent played out in Manila for ONE’s opening salvo in 2019, Joshua Pacio lost his grip on his crown to Yosuke Aruta in ONE: Eternal Glory in Jakarta. And when ONE: Hero’s Ascent happened in Manila just last weekend, Geje Eustaquio, the cerebral warrior with razor-sharp strikes, failed to pin down his crown against nemesis, Adriano Mikinho Moraes.

The Brazilian got the judges’ nod despite a heave-ho battle because of a long, dominant Suloev Stretch he applied on the Lakay hero in the fourth. Stripped of his title, “Gravity” still impressed even his third-time foe for his Lakay pride and refusal to give up despite a nasty submission attempt.

That same night, Honorio “The Rock” Banario succumbed to Lowen Tynanes who stayed dominant all fight long, ending their bout with a stoppage at 4:46 of the first round. Only Danny “The King” Kingad stayed on top, mastering his Japanese opponent, Tatsumatsu Wada, with wily escape acts and a superior game.

To date, only Folayang and Belingon still have their bling slung on their shoulders, but they, too, will put their prized hardware on the line as Team Lakay prepares for battle in Tokyo on March 31 for ONE: A New Era. The ONE franchise is set to make a splash in the Japanese market in 2019 with its first live event in March and another one, ONE: Greatness Unleashed, in October.

Folayang will face the Japanese martial arts legend, Shinya Aoki, whom he dethroned in November 2016 in Singapore to become reigning ONE lightweight champion for the first time. The Team Lakay greatly stunned the world with a third-round technical knockout of Aoki who tasted defeat for the first time in four years. Now Aoki lies in wait for the very welcome rematch which will be held in his home country. Since bowing to Folayang, Aoki had collected three first-round stoppage wins to earn the right to fight the reigning champ, who, himself, had to work his way up to figure in a title fight. Folayang defeated Amir Khan last November to take on the vacant lightweight crown given up by Martin Nguyen.

“I am happy that I got this chance to fight in my home country,” Aoki said. “It will be a great event and I plan to put on a good show for the fans. This is the chance for Japanese martial arts to truly shine.”

Folayang is ready, but stays humble, as always. “Ang mindset ko siyempre ay manalo at maiuwi ang belt sa Pilipinas. Shinya is tough.

He’s not a legend for nothing. Akala ng iba wala lang siya, pero once na makalaban niyo siya, dun niyo mare-realize na mahirap,” said the warrior-coach-and-teacher.

The Japan fight is something he looks forward to. “I never imagined I would be fighting in Japan, even during my wushu days with the National team,” Folayang added.

The other Lakay champion, Kevin Belingon, who has been the newest box office draw because of his fearless and sensational fighting style, will face Brazilian star Bibiano Fernandes, ONE’s longest-reigning bantamweight king. Just like the EustaquioMoraes bout, this Belingon-Fernandes meet-up in Japan is part three of a storied trilogy.

Twenty sixteen was the first time that Belingon and Fernandes shared the cage, with then-ONE Bantamweight World Champion Fernandes successfully defending his title against the Filipino striker via first-round submission.

In November 2018, Belingon got his revenge on Fernandes, winning via split decision in Singapore to become the undisputed ruler of the bantamweight division. Fernandes had ruled as ONE Bantamweight World Champion for nearly seven years on a winning streak.

The fight in Japan is going to be star-studded with all the stops out. ONE Women’s Atomweight World Champion Angela Lee of Singapore will challenge Xiong Jing Nan of China for her ONE Women’s Strawweight World Championship title. The celebrated Burmese fighter Aung La N Sang of Myanmar will defend his ONE Middleweight World Championship against Japan’s Ken Hasegawa.

Also on the card, two of ONE’s biggest acquisitions debut at the Ryogoku Kokugikan in Tokyo, Japan. Former UFC and Bellator Lightweight Champion Eddie “The Underground King”Alvarez faces hard-hitting Russian Timofey Nastyukhin in a ONE Lightweight World Grand Prix quarterfinals matchup. Former longtime UFC Flyweight World Champion and top-ranked pound-for-pound fighter Demetrious “Mighty Mouse” Johnson meets Japanese striker Yuya Wakamatsu in a ONE Flyweight World Grand Prix quarterfinals matchup.

Team Lakay Coach and father figure Mark Sangiao isn’t leaving anything to chance. In a suddenly challenging new year that has put in peril many of the glorious gains earned in 2018, he says it’s time again to regroup and learn. “Siyempre, nalulungkot kami sa pagkawala ng dalawang belt. But we have to look forward and face the future. Future plans namin ay magensayo nang husto at bumawi.

Kailangang maidepensa nila Kevin at Eduard ang mga belt nila.”

Eustaquio is not crestfallen about his recent defeat either.”If you saw the fight, I was the one to score even when he was in the mount position. I threw punches, elbow strikes and my elbow was even in pain from hitting him in the head.”

“But it is what it is,” he said. “I have to stay positive and respect the judges’ decision at the end of the day. We will go back to the drawing board and come back better. We are used to this.”

Finally, he left behind wise words that echo through the peaks and valleys, not just of their beloved Cordilleras, but in the hearts and minds of those who are inspired by Team Lakay. “We are people of the mountains. There is no mountain we cannot conquer,” Eustaquio said.

Indeed.

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Mighty God

EAR God, You judge with mercy and justice. We humbly pray to You: In Your love, hear our prayer. Heal those who have suffered abuse or injustice through the Church. Guide court and judicial officials to seek truth and serve the common good in mercy. Help us to rehabilitate our environment and practice good stewardship of the Earth’s resources. May the praise of God be always on our lips and hearts through Christ our hope. Amen.

GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

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❸ A VISITOR

sits near Oak Creek in Slide Rock State Park near the town of Sedona, Arizona.

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VISITORS walk at the entrance to Slide Rock State Park near the town of Sedona.

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IN this 2018 photo provided

by Regina de Heer, Joseph Gedeon looks over the town of Sedona, Arizona, seen from the Airport Mesa Loop Trail.

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Seeking the mystery of vortexes

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THE town of Sedona, Arizona, seen from the Airport Mesa Loop Trail.

Thursday, January 31, 2019

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THE Huckaby Trail on the way to Oak Creek in the Coconino National Forest.

MOMMY NO LIMITS: M2M2: ‘BEAR STRONG TRUTHS...BE A STRONGER YOU’ D3

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BY JOSEPH GEDEON The Associated Press

EDONA, Arizona—I suppose I shouldn’t have taken the parking attendant’s advice so literally. “You’ll know it when you feel it,” he had told me when I asked where I’d find the vortex. I had traveled to Sedona for a weekend to see if I would experience what many visitors come here to find: a static in the air, the “vortex.”

Inside a steep, coral-colored canyon decorated with pine trees, this sleepy Arizona city has long been a quiet refuge for hikers, romantics and soul searchers.

For many, it’s a place of mystique and magic.

Walking past its Earth-toned grocery stores, banks and restaurants, you’ll find that Sedona’s tourists and locals go into many of the same places. So much so that residents seem like former tourists themselves.

Crystal and incense shops sit prominently between visitor centers with pushy timeshare salesmen. Jeep tours that carry you to majestic points around the city—which is set amid glowing red rocks—bring convenience and modernity to what

could otherwise be a still from an old Western. And the view is also picturesque from every hotel, bed and breakfast, and residential building.

To preserve its beauty, this city of just over 10,000 people has a strict building code and zoning laws: Structures can’t grow too high, and must be colored in hues that complement the natural tones of the red rocks. Even the famed golden arches at McDonald’s are turquoise here, to enhance the desert’s natural beauty.

But many visitors to Sedona come looking for something in addition to this beauty. Native American legend recounts a spot where the Earth’s energy is supposedly concentrated and crackling. Where you can experience a range of sensations that encourage self-healing and spiritual awakening. The vortex.

The supposed healing power of vortexes gained popularity during the late 20th century. In 1987, some 5,000 believers flocked to Sedona for what became known as the Harmonic Convergence. The event began as an interpretation of the Mayan calendar; tens of thousands of people around the world gathered around spiritual centers for meditation to protect the

Earth from spinning away into space.

While praying for a global awakening, many of those who came to Sedona developed a feeling of deep, astral connection to the red rock formations. Word of Sedona’s mysterious vortexes began to spread.

There are many trails through the rocks around Sedona that guide you to these coveted locations. On my recent visit, we chose to try the Airport Mesa Loop. While more strenuous than some, it’s a great hike if you are looking for exercise and a spectacular view of town. Pack light in everything but water, as there is not much shade and some steep drops.

As the trail ascends, there are panoramic views of Elephant Rock, Courthouse Butte, Bell Rock and Cathedral Rock—Sedona’s most visited landmarks.

The trail circles around two sides of the mountain, marked by a difference in both plant life and geological formations. Once you near the end, it becomes hard to believe you are on the same path.

Because of the trail’s popularity, two parking lots are accessible to visitors. While the one lower down the mountain is closer to the official entrance of the trail, its small size made it too difficult to park in the

afternoon. We drove to the very top of the Airport Mesa and took in views of the city before the parking attendant pointed us to a spot past a fence near the road, where we hiked down a mile-long trail that forked at the entrance of the Airport Mesa Loop.

Every few steps of the roughly 3.3-mile-long trail encourage you to give in to the natural setting. A heightened feeling—tingling fingers and velvet in the air—distracted me from the multiplying hikers and marriage proposals.

We walked for hours, and we felt a lot—aches, pain, wonder.

And it was only after we completed the loop and came back to the starting point of the trail when we discovered the vortex. Standing atop the mini-mesa elicited a more intense feeling than the one I had already felt in town. Red rock vistas transform to soaring pillars, as if you’re inside a gothic cathedral.

It’s something that the New Age faithful preach about and even skeptics might buy into.

Once you wake up from your trance, you’ll notice tourists and locals basking in the same feeling. It’s a Sedona moment that can’t be replicated. n

Mahalta and the quaint Calapan few ever see

BY PAULINE JOY M. GUTIERREZ “IN Mindoro, there’s Puerto Galera.”

Often, it is easy to link cities and provinces with destinations that are frequented by tourists, just like how powdery white-sand beaches and pristine waters became synonymous with Boracay, or how Baguio always comes to mind when you think of cool and crisp weather.

So for Mindoro, there is Puerto Galera, which generates the biggest tourism draw in the island. But somewhere between the mountains and the sea are the quaint quiet towns that dot the province—little treasure finds tucked hidden in its vast expanse, like Calapan.

Boracay, Baguio and Puerto Galera are the go-to destinations in their respective regions for good reason, and that is because their hospitality industries thrive. So for a port town with plenty of potential for tourism, the question is: “Where would tourists stay in Calapan?”

For entrepreneur and movie producer Dr. Carl Balita, the time was ripe to open an

integrated resort in his hometown.

Called Mahalta Resorts and Convention Center, this sprawling 1.5-hectare estate overlooks Calapan Bay on one side, while it looks up to the rolling hills of Parang on the other. Mahalta is short for Mangyan, Halcón (the mountain), and Tamaraw, three symbols that define Mindoro life.

In an interview with the media during the resort’s opening recently, Balita said: “The resort is my humble attempt to establish a first-class facility, from bidet to bed, in this part of Mindoro.”

Consequently, Balita has opened up jobs for local residents and opportunities for local craftsmen and artisans. Local boatmen have also been trained to serve as tourist guides for additional livelihood. According to Balita, this is just a small way of giving back to the community where he was raised. Each of the 14 rooms in the resort has a specific theme—from a room featuring a lovely boudoir, to a room with board games and cards for some afternoon leisure. Other amenities include an

infinity/glass pool, convention center, café, and vegetable and herbal farm garden named after his mother, Siony, and his wife, Lyne.

Additionally, the resort has a sister company in Mahalta Eco Farm, conceptualized to make the resort self-sufficient.

A life-sized marble sculpture of a Tamaraw stands guard in the front garden. A marble statue of a Mangyan prince welcomes guests on their way to the gazebo that serves as function hall. Another notable piece in Balita’s sculpture collection is that of miraculous healer, Saint Padre Pio. Activities such as paddle boarding, kayaking, jetski rides and banana boating are offered by the resort. If the weather and ocean current permit, one can also try going around the famous Three Islands by boat.

“Mahalta has a lot of things to offer to our guests, and activities that they can engage in here, including swimming lessons, islandhopping tours and watersports like kayaking and paddleboarding. Our concept caters to those looking for a comfortable getaway in

nature with all the facilities of modern living. I blend it with a quality lifestyle,” said Balita.

The continuing development of Mahalta is in three phases. The first phase is comprised of the hotel, restaurant and pool. Under construction is a convention center that will accommodate 500 persons. The next phase of the development includes construction of single detached villas in the style of log cabins going

up the hill.

All these are currently in the works, and are part of Balita’s vision of strengthening the tourism growth in the city, especially now that Calapan serves as an economic hotspot in the region.

Balita concluded, “I want this paradise to grow as a place where moments and memories become one.”

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Thursday, January 31, 2019

Entertaining BusinessMirror

www.businessmirror.com.ph

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Marcus Mumford, 32; Justin Timberlake, 38; Kerry Washington, 42; Portia de Rossi, 46.

HAPPY BIRTHDAY: Follow your heart and your head, and let your will lead you to victory. Reach out to those who have something to offer and are willing to share.

Collaboration will encourage new beginnings that can improve your standard of living. Embrace change, and be prepared to take physical action in order to turn your dream into a reality. Strive for equality. Your lucky numbers are 7, 12, 20, 27, 33, 41, 46.

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ARIES (March 21-April 19): Observe, but don’t feel you have to agree with what’s taking place. Concentrate on personal gains, physical and emotional health, and using your skills and experience to get ahead. A colleague will offer valuable information. Romance will enhance your life. HHHHH

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For a scrumptious Chinese New Year feast I F you want your Chinese New Year celebration on February 5 to be more than just your usual fare of glutinous rice cakes and longevity noodles, we have a few marvelous suggestions.

Kung Hei Fat Choi!

CONRAD MANILA CONRAD Manila’s (www.conradmanila.com) premier award-winning Chinese restaurant, China Blue by Jereme Leung welcomes the new Lunar Year of the Earth Pig with an artful curation of modern and authentic tastes.

Executive Chinese Chef Eng Yew Khor has masterfully prepared an exquisite array of hearty and premium selection of Chinese delicacies in celebration of this highly anticipated occasion.

From now until February 5, restaurant patrons will enjoy Chef Khor’s masterful interpretations of authentic Chinese clay pot rice dishes, especially curated set menus, and delectable Nian Gao (tikoy).

Bring home a box of Nian Gao, available in these must-try flavors: Almond, Passion Fruit, Yuzu Jelly and Red Bean—all beautifully presented in delicately crafted boxes. Each Nian Gao is shaped as either a koi fish or mini gold bars to represent good fortune and prosperity. Nian Gao Treasures are in a box of eight pieces at P1,500.

China Blue by Jereme Leung provides a spacious dining area with glittering panoramic views of the bay and cozy booths, while four private dining rooms are also available to make your celebration even more memorable. Celebrate the occasion among friends and relatives, enjoy the special cuisine capped with mooncakes.

RESORTS WORLD MANILA GIVE the gift of luck. Resorts World Manila’s Lucky Tikoy is a delightful set of eight miniature of koi or gold ingots that make the perfect gift for the coming Year of the Earth Pig. The sweet, sticky Chinese treats have been shaped into traditional symbols of abundance and wealth, and come in an elegant Oriental gift box. The Lucky Tikoy is available at Passion Cantonese Restaurant at Maxims Hotel, Resorts World Manila (www.rwmanila.com), until February 5.

F1 HOTEL MANILA F1 HOTEL Manila (www.f1hotelmanila.com)at the heart of Bonifacio Global City experience the superb variety of Chinese culinary flavors this Chinese New Year with F All Day Dining’s bountiful lunch buffet on February 5 for only P1,699. Creating the menu for the event is F1 Hotel’s very own executive chef, Angelo Timban, with auspicious offerings like Black Pepper Crab, Prawn with Chili Garlic, Lechon Macao and Steamed Lapu Lapu in Sweet Soy Sauce.

By concocting a series of refined delicacies to compliment the commemoration of the Chinese New Year, F All Day Dining hopes to bring satisfaction as guests savor each platter and enjoy themselves with a stunning lion dance performance.

DIAMOND HOTEL AN auspicious year awaits you as the joyful and resilient Earth Pig draws success in all the spheres of life in its Yin form. Diamond Hotel Philippines welcomes the Year of the Earth Pig with a dragon and lion dance, traditional lucky food, feng shui consultation and staycation packages for the entire family. Explore the excellent taste and aromatic flavors of Chinese cuisine at Corniche from February 2 to 5 for only P2,880 net per person featuring the culinary specialties of the hotel’s Chinese Chef Yang Yong. Guests of Corniche with a minimum spend of P5,000 are entitled to Pick-A-Prize for a chance to win gift certificates from the hotel and more.

On February 5, get a free 10-minute feng shui consultation by Angel Macalino for a minimum spend of P5,000 at the Corniche lunch buffet. Also, catch the Dragon and Lion Dance by the Philippine Ling Nam Athletic Federation, and the performance of Chinese instrumental music by Kim Hwa Ensemble as they clear the path for prosperity and good luck this year.

Attract wealth and positive energy with lucky charms available for sale at the hotel lobby.

Make the celebrations more exciting for the family with the Chinese New Year Staycation promo at P8,000 per night in a premier room from February 1 to 6. A “we time” overnight stay includes buffet breakfast for two, unlimited Wi-Fi access, 30-percent discount at the Food and Beverage outlets except Corniche, Room Service, and alcoholic drinks,

and on February 5, 20-percent off on laundry and massage services, and complimentary shuttle service during weekend to Intramuros and Mall of Asia. Use the promo code LUCKY when you book via www. diamondhotel.com.

CRIMSON HOTEL AT Crimson Hotel (www.crimsonhotel.com) in Filinvest City, Parañaque, the Chinese New Year festivities feature Café Eight’s A Feast for Prosperity buffet that will serve a great selection of Chinese cuisine. Guests can take this opportunity to get their family together for lunch and dinner while indulging in a buffet spread of Octopus Salad, Kung Pao Chicken, Dim Sum, Braised Pork Belly, Vegetable Spring Roll, Chili Garlic Prawns and so much more.

In addition, Café Eight will also showcase a Dumpling Festival that will be available in both the buffet’s dumpling station and a la carte menu. A gastronomic delight awaits dim sum lovers as these glutinous delights will surely satisfy one’s cravings.

Guests who will avail themselves of the Sunday brunch buffet at Café Eight will have a chance to attend Feng Shui Master Joseph Chau’s 2019 Chinese forecast on February 10.

MARCO POLO ORTIGAS MANILA IN ushering in the Year of the Earth Pig, Marco Polo Ortigas Manila (www.marcopolohotels.com) offers indulgence in auspicious and staple glutinous rice cakes for that stroke of luck. Choose between two varieties: the gold bar, which is available in boxes of one and two pieces and in brown sugar flavor; or the traditional round variant, which is available in orange and brown sugar flavors. These tikoys are available starting at P798.

Feast over festive dishes that bring abundance with two special authentic Cantonese set menus by Chinese Executive Chef Terry Lai at Lung Hin. Suckling Pig Cold Cuts Combination, Steamed Live Garoupa with Minced Garlic in Supreme Soy Sauce and Braised Abalone with Fish Maw in Oyster Sauce (10 heads) are some of the dishes crafted for a fine celebration.

Classic Salmon Yu Sheng Prosperity Toss is also available in the special a la carte menu to bring in more luck. n

TAURUS (April 20-May 20): Keep moving.

Refuse to let what others do or say get to you. Progress will be made if you work alone and you refuse to let anything or anyone stand between you and finishing what you start. HHH

c

GEMINI (May 21-June 20): You’ll be drawn to charismatic, intelligent people. Focus on collaborating and fleshing out ideas that can help you turn a project you are working on into something tangible. Personal matters will take favorable turns and provide new opportunities. HHH

d

CANCER (June 21-July 22): Your intent should be to stabilize your life, not add to the confusion. If someone is being erratic, you are best to remove yourself from the equation. Stick to those offering something consistent and of interest to you. HHH

e

LEO (July 23-Aug. 22): Networking will change the way you think, how you perform and what you do next. An interesting conversation will lead to an opportunity to partner with someone who has as much to offer as you. HHHHH

f

VIRGO (Aug. 23-Sept. 22): Stay focused on what you are trying to accomplish.

Refuse to let personal or domestic problems stifle your productivity. Someone you thought you could trust will let you down. HH

g

LIBRA (Sept. 23-Oct. 22): Personal improvements will lift your spirits, boost your confidence and put you in the running for a positive change. Share your ideas, and make the changes that will bring you the satisfaction and happiness you long for and deserve. HH

h

SCORPIO (Oct. 23-Nov. 21): Think before you speak. You will be tempted to disagree if someone is evasive or exaggerating.

Don’t let anyone bait you into saying something you’ll regret. Focus on a creative project and gaining experience and knowledge that will help you advance.

HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Stick to the truth. If you promise too much or you exaggerate, someone will hold you accountable. If you want change, go about getting it yourself. Don’t rely on anyone to help. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Don’t get angry about the changes going on around you.

Focus on doing your own thing and adapting what you do to fit the current climate. It’s how you react that will make a difference in the outcome. HHH

k

AQUARIUS (Jan. 20-Feb. 18): What you do for others will be appreciated and rewarded. Your enthusiasm will make a difference to someone who needs reassurance.

Personal gains and improvements will lead to unique opportunities.HHHH

l

PISCES (Feb. 19-March 20): Listen, but don’t do something based on what someone tells you. Research and facts will spare you from making a mistake that could cost you financially, emotionally or physically. When in doubt, talk to the experts and get more than one opinion. HH BIRTHDAY BABY: You are engaging, open-minded and fair.

You are spirited and humorous.

‘backers’ BY MIKE MCHUGH The Universal Crossword/Edited by David Steinberg

ACROSS 1 Savory jelly 6 Deep divide 11 Talk like a lover 14 Canonized one 15 Valium producer 16 Put two and two together?

17 One fine hat?

19 Free (of) 20 Got a perfect score on 21 Supposedly wise bird 22 Acts without speaking 24 Make plans?

26 Yoga posture 28 Decal on a witch’s transport?

33 Energy unit 36 Competed at Indy 37 Mercury-regulating org.

38 If not 39 2018 Marvel alien movie 40 Worry 41 June honoree 42 One of nine in an SSN 43 Offers, as a question

4 Item at a swanky bar?

4 47 Kind of closet for sheets 48 Some early Mexicans 52 Europe’s longest river 54 Pollen holder 56 Syrup brand 57 ___ moment (epiphany) 58 Dog that’s no longer relevant?

62 Sergeant’s address 63 Admit (to) 64 Corvette or Miata 65 Dawn goddess 66 Birdfeeder contents 67 Not just suspend DOWN 1 Syrian strongman 2 Deep-dish pizza filler 3 Organ tubes 4 Like poisonous mushrooms 5 Midpoint: Abbr.

6 Corn-eating bird 7 Roaring wind sound 8 NBA knee tear site 9 “___ sells seashells”

0 Woman/fish hybrid 1 11 Honda and Hyundai 12 Garfield’s prank victim 13 They can be long or even 18 One-named Irish rocker 23 Magazine for CEOs 25 M.A. hopeful’s test 26 Wide neckties 27 Arise (from) 29 Willamette Valley’s state 30 Craze 31 Olympics sword 32 “Darn!”

33 Luke Skywalker, e.g.

34 Royal Norwegian name 35 They’re worthless when inflated 39 The “V” in VP 40 Climactic Goldfinger setting 42 Spirited sorts 43 Candy in dispensers 45 Tractor trailer 46 Folded Mexican food 49 Really enjoy 50 Folded French food

1 Cartoonist Edward 5 52 Bouquet holder 53 The Buckeye State 54 Small earring 55 Photos and iTunes 59 Have creditors 60 Eight-hundred preceder?

61 Finish a cupcake Solution to yesterday’s puzzle:

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Parentlife BusinessMirror

Thursday, January 31, 2019

M2M2: ‘Bear strong truths… be a stronger you’ MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

W

HEN I started to journal in third grade, my intention always revolved around my kids being able to access my diaries one day. When I started blogging about my life like an online autobiography in 2014, it was my personal way of passing on my stories and life lessons to my two kids, Meagan and Marcus.

This 2019, I decided to label these life lessons “M2M2,” which means “Mom to Meagan and Marcus [M squared]” while reflecting our common love for Math.

Here goes my first M2M2 about faith: “When you were younger, Marcus, I remember you did not like to go to Church on Sundays. Then one time, mom led you to her ritual: I asked you to pray to Saint Lorenzo Ruiz to teach you patience, since you were always like a ticking time bomb.

Later on, I also explained to both you and Meagan that going to Church on Sundays is our one day in the week as a family to formally give thanks for all the week’s blessings, as well as to seek guidance for the week ahead.

“I know that each person’s journey of faith is unique. Your journey is still a long way ahead of you.

What we can only do as parents is to expose you to what worked for us. Our faith has made the difference in trusting life more than doubting it. Our devotion to our religion has continued to lead us to trust God. It has led us to continuously choose and do by what is right. That’s why we share the rituals we learned from our parents, like going to Antipolo Church and performing Visita Iglesia during Holy Week.

“How I got to my beliefs and continue to strengthen them is a direct result of the experiences I encountered in my life. Meagan, remember when mom used to cry everyday when you were four. Mom was going through something extremely difficult at the time. You would just lie directly on top of mom.

Your heartbeat next to mom’s really made me feel better. It was also those moments that I saw how God was giving me strength through you. It was that strength that allowed me to wake up each morning and believe that life will get better.

“Marcus, when you are playing “Fortnite” with your friends online, and then you would stop, suddenly remove your headphones, and just say, ‘I love you, mom’; or when all of us get to support dad in his marathons, these are just some of the moments I am grateful for and I know that God is there with us.

Mom’s point is, I hope that whatever good or difficulty that comes your way, having faith in God gives both of you a better and more meaningful

Landers offers early membership renewal promo A LEADING membership shopping establishment in the country, Landers Superstore welcomes the new year with an exciting offer.

Members with cards expiring from January 1 to December 31, 2019, can renew their membership as early as now to get 50-percent off of the renewal fee. The P400 renewal fee is applicable to walk-in members only. The promo runs until January 31.

Members can renew at any Landers Superstore branch (www.landers.ph).

CLOCKWISE: My dad and Meagan in last year’s Visita Iglesia in Bicol; with Marcus as I shared my ritual of visiting Saint Patrick’s Cathedral in New York City with my family; my kids and dad with our beloved Uncle Alejo at Antipolo Church; Marcus with Ironman at a Toy Kingdom event; Meagan and I supporting a Breast Cancer Awareness event to see “faith in action” when she was 8; my kids with Vinson and friend Tony, as we supported them at the Osaka Marathon back in 2016.

perspective. Angkong James Liu (the dad of Auntie Michelle) said it best at the 2016 wedding of Uncle Jun Jun: ‘Life is never without a need, without a problem, never without a hurtful moment but a peaceful life is never without God.’ “I know that at your age, it is difficult and even illogical to concretize faith. That is why I love taking you to movies that let you experience ‘intangibles.’ Remember when we recently watched Disney’s Christopher Robin and Mary Poppins Returns?

From Christopher Robin, I like the line: ‘I suppose it’s right where it needs to be,’ said Winnie The Pooh about the tree from Hundred Acre Wood. Second: ‘Sometimes, when I’m going somewhere, I wait.

Then somewhere comes to me.’ Last: ‘What day is it? It’s today. My favorite day!’ From Mary Poppins Returns: ‘When you dream, all the things lost are found.... All missing things are found in you’; and ‘When you change the view, the world is turning turtle.... It is all in the way you look at things.’ I remember the last part with all the balloons. All those with pure of heart floated in the air with pure happiness while corrupt Bank President William

‘Weatherall’ Wilkins reaped what he sowed as he was left on the ground.

“Another dimension to faith is belief in oneself.

This does not mean hollow confidence. This does not equate to popularity among many people. Faith in oneself involves how we work to build ourselves into the person we are happy to be. It is building substantial confidence. It takes years of never-ending learning from reading, experiencing and listening to the people around us. That is why I love sharing new knowledge to you.

Remember back in 2016, Meagan, where we watched Sheryl Sandberg’s commencement address at University of California Berkeley. She is the COO of Facebook. There is a quote there I want both of you to remember: ‘The question is not if some of these things will happen to you. They will. Today I want to talk about what happens next.

About the things you can do to overcome adversity, no matter what form it takes or when it hits you. The easy days ahead of you will be easy. It is the hard days—the times that challenge you to your very core—that will determine who you are. You will be

defined not just by what you achieve, but by how you survive.’ And on a lighter note, Marcus, that’s why I support you on your favorite heroes like Ironman, Groot, Yokai, etc. I believe at this age, it allows you to see inner strength in action.

“Last but not the least, having the gift of faith bears no meaning if one does not put them into good, purposeful and sincere action. Learn from the nicest people like Dr. Jean Dy, whose benevolent voluntary works at Project T.E.A.C.H. you, Meagan, got to experience as she helped kids with special needs.

Learn from kind and successful people like business tycoons who give back to society.

“We hear the phrase, ‘Take the high road.’ It always seems like a judgy moral compass others impose on us. For me, it has always been considered a personal choice guided by faith. Why? Because it is I who need to face myself in the mirror everyday. It is only I who can choose a path I can always answer for today and for the years to come. Faith has allowed me to find that inner strength to accomplish this. I hope it can lead both of you to a ‘stronger you’ and allow you to live by the purposeful life you choose in the future.” n

SM launches diversity campaign for kids WITH all the nasty things that have become manifest online teaching kids about diversity, respect and kindness cannot come soon enough.

SM Kids is helping out as it embraces diversity in fashion with the launch of its #AllKidsBeautiful campaign, which features adorable models, some of whom have a

disability. This is in partnership with the Miss Possibilities Foundation, a nonprofit organization that helps kids with special needs to show their true beauty and promote self-confidence.

It also aims to create more awareness for PWDs, especially those with cerebral palsy and Down syndrome.

After all, at SM Kids, all kids are beautiful. And even the kids with special conditions like Down syndrome and cerebral palsy can enjoy their clothes, be confident, find fun in fashion and celebrate who they are.

By featuring SM Kids models with Miss Possibilities models,

the campaign highlights #AllKidsBeautiful. Despite their differences, they make for some pretty excellent models and had fun posing before the camera.

All kids are 100 percent fun. A hundred percent adorable. A hundred percent themselves. A hundred percent beautiful.

D3

D4

Show BusinessMirror

Thursday, January 31, 2019

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Thank you, Michel Legrand and Pepe Smith REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

T

WO musicians passed on two days apart each other: Michel Legrand on January 26 and Pepe Smith on the 28th. For this country passionate about music, the death of a French composer whose melodies and the songs crafted from them gilded our memories of some of the most unforgettable cinemas are as significant as the rhythms and blues created by a lanky rock ‘n’ roll man who never lost his leanness and meanness till kingdom come.

I was not into rock. In fact, I was not even into the Beatles. It was already the 1980s. The 1970s were gone and had become part of nostalgia. Memory has ways of coloring remembrances, and I was missing the sound of the late-1960s and the 1970s. Perhaps, I was not looking back at the sound but the events that went with those sounds and beats.

Research had brought me to Olongapo, my very first time to be in that place. My friends who were with me knew I was into jazz and blues. That night, they brought me to Magsaysay Strip. It was a place that looked production-designed for a film noir. The place had an unusual scent of regrets, sensuality, adventure and love lost.

I forgot the politics of the place—the fact that those clubs were there because Filipinas sold their soul for US dollars, and that inequality and poverty were part of what simmered above as R&R and goodwill Philippine-American relations. We were looking for jazz bars but I noticed there was a segregation: some clubs were “white” and some were “black.” It was intimidating. We walked for an hour, encountering MPs on the street, and we saw them in action—hauling into cars military men involved in a brawl. Magsaysay Strip was not real; it was a street stage-managed by a colonial dream that brought possibilities of the good life and the facts of exploitation and heartbreaks.

The women were not interested in Filipinos.

We were nonentities. That gave us the chance to inspect more bars until we reached one that seemed democratic. There were American soldiers but there were more Filipinos. The place was jumping. We needed to navigate a steep staircase to reach the higher level, which allowed us to look down onto a circular stage, or what looked like a performing area defined by a spotlight.

We were not prepared for what happened next.

A voice filled with whiskey sounded from somewhere: Pepe Smith! There was no introduction.

There were no greetings. There was only that name

and the leanest, tallest figure striding to the middle, a thin gladiator without an opponent, a gangstah in a black leather jacket and chains going around and around below his waist. He had metal necklaces, or were those black leather-and-steel dog collars? With the surplus of accessories, he was Coco Chanel’s roughest nightmare.

The crowd was going wild. There were stomping of feet and clapping of hands. And there was that voice: an unforgiving voice that without the gravelly sound could have sounded like a tenor’s tool. I do not remember now what he sang. I do not even remember how long he stayed on that floor. What is clear even up to now was that stage presence that was scary because it was demonic but welcoming and embracing.

Pepe Smith was part of the Juan De La Cruz Band that was completed by Mike Hanopol and Wally Gonzales, the least flamboyant but perhaps the original “crush” of those women—and men—who loved rock.

One cannot really talk of Pepe Smith without mentioning the music he created with Hanopol and Gonzales. They sounded like the Rolling Stones and all those bluesmen but they were singing about local things like “Divisoria.” They even transformed a Samar-Leyte folk song “Di Ak’ Nahuhulop” into a flag-waving blues called “Inday.” They were way, way ahead of deconstruction and the post-colonial both in the theoretical and practical forms of the said thoughts.

Pepe Smith, the Amboy, that Amerasian, his flamboyance and angas were our colonial selves put to hard-driving, gritty soul music. He was local and he was global; he was national and he was international.

He was all of us and our country—lost and found in

the ruins of many wars and foreign interventions, and saved by a music that came from the West but made into a subaltern’s subversion.

I do not see Michel Legrand as purely colonial. He came though through the “inescapably inter-national” and colonizing technologies of films.

Legrand came to me through movies. I do not know how young I was when I watched The Thomas Crown A�fair. I do not think I already possessed then any semblance of sophisticated ways of reading a film.

The movie was what we called then a “detective story.”

Steve McQueen, to us, was an action star who made fast-paced interesting movies. But I remember that in the middle of the film, when the character of Steve McQueen flew a yellow glider and the music soared with the plane, I realized how music could have movements. The intro music was swirling as if in a circle and the words of the song were clear: they were about moving in circles, whirling and going around and around. The song stopped the film! Long after the glider had landed, I was thinking of and humming a bit the sad, lovely music.

Some years after, I and other cineastes would recognize the song some more. It was “The Windmills of Your Mind.” The man who originally sang the song for the movie was Noel Harrison but sadly very few people remember him. This was because after the film became a hit and the song won an Oscar for Best Song, many other singers made it their own. Outstanding versions include those made by Jose Feliciano (who sang it during the 1960 Oscars and upped the song to more maudlin level compared to the faster rendition of Harrison), Jack Jones, Johnny Mathis, and the Palestinian balladeer Omar Kamal.

The song “The Windmills of Your Mind” would

come to us non-French speaking fans through the lyrics of Alan and Marilyn Bergman as with the other songs of Michel Legrand.

It was in 1964 though that Michel Legrand caught the attention of Hollywood and music fans when he composed the music for Jacques Demy’s La Parapluies de Cherbourg (The Umbrellas of Cherbourg). The French lyrics were by Demy and the English lyrics were

by Norman Gimbel. It would be nominated in the 1965 Oscars but would lose to Johnny Mandel’s “The Shadow of Your Smile.” The song, however, would be sung by various singers from Connie Francis to Jessye Norman, from Frank Sinatra to Greek singers George Perris and Mario Frangoulis. It would change in the relentless vocal styling of Sarah Vaughan and would be transformed into a dirge by Louis Armstrong.

Michel Legrand would compose more songs and would win more Oscars and other awards. His songs would be remembered by how the other vocalists would infuse their own approaches to the complex melodies of Legrand. Known to be lover of jazz and improvisations, Legrand would sometimes be at the piano when some jazz artists like Vaughan and Bill Evans would experiment on Legrand’s tones and chords, most of the time altering melodies at certain points, although they would always come home to the original lines of sound Legrand offered to us in bountiful directions.

Such is the art of Michel Legrand that he allowed other artists to breathe life into his works. Such was the power of the music in Pepe Smith that he pushed for lush and vibrant life amid the violence and peace of his world. No two artists were more disparate and similar. n

GMA–San Miguel’s ‘Home Foodie’ bags gold THE so-called madalicious meals have become the joy of many homemakers through Home Foodie, the three-minute program that gives viewers easy-to-do recipes and tips on everyday cooking tasks. It is no wonder that the GMAproduced cooking show received the gold for Best Use of Advertiser-Funded Programming Broadcast at the Native Advertising Awards recently held in Berlin, Germany.

Powered by GMA’s expertise in engaging the Filipino audience, the San Miguel Pure Foods message was effectively delivered through a program that fits perfectly into the daily routine of its market. Hosted by celebrity couple Drew

Arellano and Iya Villania-Arellano, with steady direction from San Miguel Pure Foods Culinary Center chefs headed by Chef Llena Tan-Arcenas, the show was developed by San Miguel Food and Beverage Inc. (formerly San Miguel Pure Foods Co. Inc.) in collaboration with The Huddle Room and GMA. Now going on its fifth season, the program has continuously innovated to reach viewers and offer solutions to different kitchen dilemmas.

The Native Advertising Awards recognizes excellence through native content, advertising that follows the natural form and function of the user experience in which it was placed, instead

of regular advertising that aims for disruption to get the audience’s attention. With the awards’ growing prestige, more countries have been sending entries, including Sweden, Peru, Croatia, the United States, Germany, Belgium, Slovenia, Russia, Denmark, Italy and Australia. Home Foodie’s win confirms that the show has become seamlessly and effectively integrated into the habits of their consumers by giving them ways to recreate traditional Filipino dishes and providing them with valuable kitchen tips and techniques.

By winning the highest honor in its category, Home Foodie has definitely brought home another delicious victory for the Philippines.

HOME Foodie celebrity hosts Drew Arellano and Iya VillaniaArellano with San Miguel Pure Foods Culinary Center chefs headed by Chef Llena TanArcenas

Brokaw says he feels terrible commentary offended Hispanics

BY DAVID BAUDER The Associated Press NEW YORK—NBC’s Tom Brokaw says he feels terrible that his comments on Meet the Press on Sunday that Hispanics should work harder at assimilation “offended some members of that proud culture.”

The former NBC Nightly News anchor tweeted in response to a social-media backlash to what he had said earlier in the day during a discussion of the proposed border wall.

On the show, Brokaw said that many Republicans fear the rise of a new constituency in American politics “who will come here and all be Democrats.

“Also, I hear, when I push people a little harder, [people who say] ‘Well, I don’t know whether I want

brown grandbabies,’” he said. “I mean, that’s also a part of it. It’s the intermarriage that is going on and the cultures that are conflicting with each other.”

The 78-year-old journalist said he’s been saying for a long time that Hispanics need to work harder at assimilation.

“They ought not to be just codified in their communities but make sure that all their kids are learning to speak English, and that they feel comfortable in the communities,” he said. “And that’s going to take outreach on both sides, frankly.”

Brokaw received some immediate pushback from another panelist on the political talk show, Yamiche Alcindor of PBS. “I grew up in Miami, where people speak Spanish, but their kids speak English,” she said.

“And the idea that we think Americans can only speak

English, as if Spanish and other languages wasn’t always a part of America, is, in some ways, troubling.”

The web site Latino Rebels and its founder, Julio Ricardo Varela, pointed out online that a 2015 Pew Research Center survey found that nearly twothirds of Latinos in the United States were born in the United States. Hispanics make up 18 percent of the nation’s population.

The National Association of Hispanic Journalists also tweeted that it voiced its concerns about Brokaw’s “inaccurate commentary” to NBC. Pew also found, in a 2016 survey of young Latino adults, that 41 percent say that English is their dominant language, 40 percent say they are bilingual and 19 percent speak Spanish primarily.

Brokaw’s comments are both xenophobic and

factually incorrect, Varela said.

“We as a community are creating the new America right before your very eyes, Mr. Brokaw,” the Latino Rebels web site said. “Sorry if it doesn’t fit your perceptions of what America should be like. That future is bilingual, bicultural, at times in English, other times in Spanish. Our community is defining this future. Not you.”

NBC News had no comment on Sunday on Brokaw, who has served in something of an emeritus role at the network since stepping down as lead anchor in 2004.

On Twitter, Brokaw said that he’s worked hard to knock down false stereotypes and pointed out that all sides need to work harder at finding common ground.

He said he believes in “dialogue not division.”

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, January 31, 2019 E1

Local tourism takes to the skies— thanks to aviation entrepreneur

F

By Rizal Raoul S. Reyes

@brownindio

IFTEEN years ago, Thierry Tea received an assignment to work in the Philippines as a young trainee of Bell Helicopters.

Now the CEO of local aviation company PhilJets, Tea shared in a recent interview with the BusinessMirror that he was just 23 years old when he got the local post to sell the rotor-powered flyers.

“At that time, the Philippine market [for helicopters] was not yet a ‘byword’ in France. I was asked by the sales director here if I was interested, because he was moving to another country,” he recalled.

Soon after, the French-Cambodian professional was able to sell his first unit. That’s when his career in sales got off the ground, and literally took off.

From then on, there was no turning back for Tea as he successfully sold more helicopter units. Thereafter, he was appointed as president and CEO of Eurocopter Philippines, a subsidiary of Airbus Group, where he worked for five years.

For his stellar performance, he

was appointed as head of the Airbus group in the Philippines, where he supervised the sales campaigns of the company, including those of its affiliates ATR and Airbus helicopters, as well as its defense and space divisions.

Tea was instrumental in leading his team in landing a major contract with a local carrier when it procured 70 Airbus planes, which effectively boosted the complement of its fleet.

After that campaign, the executive took a sabbatical in France to recharge. That proved to be meaningful, as he made a post-vacation decision to spread his wings after spending a career-defining decade with the Airbus Group.

In 2014, he established the PhilJets group. One of his first corporate moves to immediately expand operations was to acquire charter company Zenith Air Inc. Later that year, the company was renamed

PhilJets Aero Charter Corp.

The CEO swears by one of his keys to success in business—that of keeping his network of business contacts in the Philippines.

“My objectives are to promote local aviation, and to level up Philippine tourism to world-class standards,” Tea pointed out.

“The Philippines is very underrated and ‘self-focused’ on local tourism. As an enhancement, it has to train its sights on foreign markets.

[For instance,] we have to make Boracay at par with Bali or Phuket.”

This month, PhilJets is marking a milestone as it celebrates its sixth anniversary. It is Tea’s goal for the company to continue delivering quality service while keeping a delighted roster of clients.

Sphere of operations

A MAJOR player in the local aviation industry, PhilJets operates within the Philippines and neighboring countries in the Asean. It has as clientele general-aviation firms; commercial airlines; maintenance, recovery and operations or MRO companies; as well as government agencies.

Based in the hangar of the Manila Domestic Airport, PhilJets provides fleet management for clients, especially those in the high-end markets. It also helps interested

parties acquire private aircraft services for flight operations within the archipelago.

The aviation business also offers chartered helicopter services for special flights and corporate functions.

Tea, likewise, described PhilJets’s business function as a distributor of aircraft products, which include components, spare parts, consumables, software and various tooling equipment for the aviation industry.

True to Tea’s nature of maintaining networks, the firm has forged strong collaborations with manufacturers and aircraft owners.

PhilJets also has participations in a number of relevant start-up companies in the Philippines as adjuncts to its operations, and now has even created its own.

Singapore-based Starline Global Industries, a newly established firm

by PhilJets, consolidates purchasing services for the PhilJets Group, as well as provides consulting services to a handful of companies in the region. Its sphere of operations span Singapore, China, Indonesia, Malaysia, Cambodia, Lao PDR, Myanmar, Bangladesh, Nepal, Thailand, Hong Kong, France and the United Kingdom.

Sky’s the limit

TEA recalls with fondness and

awe that PhilJets started in 2013 with nary an aircraft in its complement and only offered brokering services. Right now, it has a total of 14 for its operations.

“We’re planning to acquire three to four aircraft to beef up our fleet.

Hopefully, we can reach 30 in two to three years,” he said.

At present, the company has a total manpower of 70. “We’re basically expanding and on the lookout for skilled people. We are keen on having our current on-the-job trainees as potential employees in the future,” the CEO claimed.

He pointed out that it is PhilJets’s aspiration to lure Filipinos based overseas, as they have managed before to invite experienced Pinoy pilots who were once working in Angola, Thailand and other parts of Asean.

Under his helm, PhilJets was able to tally annual corporate performances of 100-percent year-onyear revenue growth from 2013 to 2017. Tea sees unabated progress for the company in the near future.

To achieve the agenda, the aviation entrepreneur recognizes the importance of human resources.

In fact, PhilJets is now investing in a series of trainings, as well as continuous hiring of highly skilled mechanics and experi-

enced technicians.

While doing that, Tea is also tracing his roots by investing in Cambodia’s agriculture and realestate sectors as well as its digital start-ups.

The PhilJets head is also active in civic works. He happens to be a cofounder and director of Asiaware Cambodia, an organization that aims to provide support to children in his native country, with a focus in the southwestern province of Kampong Speu.

“I also want to create a bridge between the Philippines and Cambodia,” he enthused.

Asked why he has a strong affinity toward the Philippines, Tea said he is still experiencing and embarking on an enriching journey in the country, finding the Filipinos as a talented, friendly and hospitable people.

“My career grew here, and I was able to succeed while working with the Airbus Group. Many [of my former Western colleagues] thought that an Asian could not do it.”

Tea went on to declare: “My personal advocacy is to make the Philippines competitive in tourism and aviation, while promoting it to the world. It’s my way of giving back to a country that has been so good to me.”

Envoys& BusinessMirror

E2 Thursday, January 31, 2019

EMBASSIES, EVENTS, ETC.

‘Unshakable’ PHL-US links underscored in envoy’s address

I

Horizontal aviation pact signed

By Recto L. Mercene

N an address before the United States Foreign Policy Discussion Group (FPDG), Ambassador of the Philippines to the US Jose Manuel G. Romualdez outlined the importance of sovereignty and independence as pillars of Philippine foreign policy under President Duterte.

Romualdez emphasized that the Philippines seeks to be a “friend and partner to all,” then noted that it is working to establish closer relationships with diverse countries while strengthening traditional partnerships.

“The friendship between the Philippines and the US remains strong and stable,” he said, then added that from issues concerning the South China Sea, the proposed bilateral free-trade agreement, and to the strong people-to-people ties anchored by a nearly 4 million Filipino diaspora in the US, “the relationship between the two countries is robust and unshakable.”

“We continue to build on and strengthen our deep and long friendship based on mutual respect and a strong alliance of two great nations.

Filipinos and Americans alike continue to keep the fires of our friend-

ship burning, both in times of war and in peace,” the ambassador told his audience.

“The friendship between our two nations could only be reinvigorated and made stronger with the recent return of the Balangiga bells to the Philippines,” as he referred to the artifacts that were returned in the first week of December 2018.

Romualdez also spoke about the different realities in which countries find themselves today; and how in a complicated world, global leaders are required, if not compelled, to adopt policies and leadership styles that better fit the current world environment.

“I was honored to join Duterte in Balangiga last December, and to hear the bells finally toll once again—not with the bitter sound of war, but the sweet chimes of peace and friendship,” he added.

AMBASSADOR of the Philippines to the European Union (EU) Eduardo José A. de Vega, with Ambassador of the Permanent Representation of Austria to the EU and Permanent Representatives Committee Chairman Nikolaus Marschik during the signing of the PHL-EU Horizontal Aviation Agreement. EUROPEAN COUNCIL

B AMBASSADOR Jose Manuel G. Romualdez and Foreign Policy Discussion Group President Thomas J. Reckford

FPDG President Thomas J. Reckford spoke about US-Philippine relations and cited the return of the Balangiga bells “as a heartwarming story that rights a century-old wrong.”

In a lively question-and-answer session, Romualdez discussed many important issues, including the role of China in the South China Sea and the importance of ongoing trade negotiations between Washington D.C. and Beijing. “ R omu a ldez de l ivered ontarget remarks on PhilippineAmerican relations to this elite audience, citing shared values, enduring ties, and a range of common interests,” observed Ambas-

sador John Maisto, president of the US-Philippines Society, who was a special guest at the dinner.

The FPDG was created to promote greater knowledge and understanding of problems affecting foreign policy among its members.

It was established to offer a platform and a framework conducive to frank discussions of problems of foreign policy.

Members of the FPDG are primarily from the Washington D.C., area and include former and present government officials, lawyers, representatives of the business sector, bankers and academicians who are knowledgeable in foreign affairs.

New Czech ambassador welcomed

RUSSELS—The Philippines and the European Union (EU) recently signed the Philippine-EU Horizontal Aviation Agreement during a ceremony at the Justus Lipsius Building in the Belgian capital.

Ambassador to Brussels and the EU Eduardo José A. de Vega, Ambassador of the Permanent Representative of Austria to the EU and Permanent Representatives Committee Chairman Nikolaus Marschik as well as European Commission’s Directorate General for Mobility and Transport Deputy Head of Unit Klaus Geil signed the agreement on behalf of the Philippines and the EU, respectively.

The signing of the agreement is an important milestone for Philippine-EU bilateral relations as it will not only remove nationality restrictions in bilateral airservices agreements between the Philippines and EU member-states, but will also harmonize standards and provisions between the parties in the fields of safety, taxation of aviation fuel and compatibility

with competition rules.

During the signing ceremony, de Vega highlighted the significance of the agreement, especially for the half-a-million Filipinos living and working in EU countries.

He also emphasized that this development, alongside the entry into force of the PhilippinesEU Partnership and Cooperation Agreement on March 1, 2018, and the recent visit of Foreign Affairs Secretary Teodoro L. Locsin Jr. to Brussels in October 2018, show the steadily deepening relations under President Duterte.

For his part, Marschik expressed his happiness with the conclusion of the agreement. Geil lauded this important step in enhancing aviation relations and cited the 64-percent increase in Philippine-EU air traffic over the past five years, then noted that further growth is to be expected.

The agreement will enter into force after it has undergone the respective internal ratification procedures of the two sides. Department of Foreign Affairs

PHL, Bahrain foreign affairs ministry officials converge

DELEGATES from the foreign affairs ministries of the Philippines and Bahrain converge

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PRESIDENT Duterte poses with the new Ambassador-Designate of the Czech Republic to the Philippines Jana Šedivá after her presentation of credentials at the Malacañan Palace on January 15, as Foreign Affairs Secretary Teodoro L. Locsin Jr. look on. KING RODRIGUEZ/PRESIDENTIAL PHOTO

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MBA SSA DOR-DESIG NATE Jana Šedivá presented the Letters of Credence to President Duterte in a ceremony at the Malacañan Palace on January 15, thus becoming Ambassador Extraordinary and Plenipotentiary of the Czech Republic to the Philippines. Šedivá conveyed the sincere greetings of Czech Republic President Miloš Zeman to Duterte and the Filipinos, and assured the Philippines’s Chief Executive that she will exert all efforts to expand mutually beneficial cooperation between the Czech Republic and the Philippines during her tenure.

She mentioned that bilateral

relations between the Czech Republic and the Philippines were always “very friendly and has been gradually deepening” in recent years.

According to her, Czech and Filipino spiritual and political linkages go far back in history: from the time of the first Jesuits and scientific expeditions to the Philippines, and to the friendship between Dr. Jose Rizal and Prof. Ferdinand Blumentritt, whom the former visited in 1887 and addressed in his last letter.

The envoy noted that Czechs and Filipinos also share their love of the Infant Jesus of Prague. A growing number of Filipino tourists arrive

every year to the Czech Republic to see the statue, as well as countless beautiful historical places there.

Citizens of the former Czechoslovakia shed their blood during the defense of the Philippines in World War II, alongside other Filipino “brothers-in-arms” in the battle of Bataan.

Duterte also invited Šedivá for a tête-à-tête, accompanied by Foreign Affairs Secretary Teodoro L. Locsin Jr., Trade Secretary Ramon M. Lopez and Finance Secretary Carlos G. Dominguez III. Both sides appraised the bilateral cooperation on a wide range of issues, such as politics, trade and development as well as cultural co-

operation, based on shared interests and mutual respect. For the Philippines’s part, Duterte expressed particular interest in deepening defense cooperation. Šedivá studied Sinolog y at Charles University in Prague and Beijing University. A career diplomat, she worked as deputy director of the Department of Asia and the Pacific at the Czech Foreign Ministry until December.

During her two-decade long diplomatic career, she served at various Czech embassies in Jakarta and the Hague, the Czech Center in the latter city, as well as Eurojust, EU’s Judicial Cooperation Unit.

Czech Republic Embassy

ANAMA—A delegation of Philippine government officials led by Foreign Affairs Undersecretary for Migrant Workers Affairs Sarah Lou Y. Arriola and Ambassador to Manama Alfonso A. Ver recently met with Bahrain’s key foreign affairs officials, who were represented by Undersecretary for International Affairs Dr. Shaikh Abdulla bin Ahmed bin Abdulla Al Khalifa to discuss common issues for both countries.

Some of the items discussed include Bahrain’s promotion to Tier1 Classification by the US State Department’s 2018 Trafficking in Persons (TIP) report, the two countries’ active and leading participation in the Global Compact for Migration (GCM) covering programs that realize its objectives such as the Flexi-Visa Program, the Philippines’s and Bahrain’s recent win during the Human Rights Council Elections, as well as the Philippine hosting of the first High Joint Commission Meeting in January 2019 in Manila.

After welcoming Arriola and the Philippine delegation, Abdulla commended the “close, dynamic, and ever-growing relations” between the two countries.

For her part, Arriola expressed appreciation for Bahrain’s hospi-

tality and the arrangements for her delegation, then congratulated Bahrain for its initiatives that led to its Tier-1 Classification in the US State Department’s 2018 TIP report.

Arriola also lauded the efforts of the Bahraini government for implementing programs that are geared toward improving the conditions of migrants—specifically for providing a clear pathway to regularization of many migrants through the Labor Market Regulatory Authority’s Flexible-Visa Program. She also reiterated the Philippine commitment to host the initial High Joint Commission Meeting.

Abdulla stated that Bahrain, under the leadership of King Hamad Bin Isa Al Khalifa, places great importance on human rights and freedoms, then reiterated her country’s commitment to work with the Philippines to combat terrorism and violent extremism.

Both officials affirmed willing ness to continue work ing closely toward the final adoption and signing of the GCM, which was scheduled in December in Marrakech, Morocco.

They also agreed to expand the relations between the two countries to other areas of mutual interest.

&Expats

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EMBASSIES, EVENTS, ETC.

PERUVIAN AMBASSADOR-DESIGNATE President Duterte received the credentials of nonresident Ambassador-Designate of the Republic of Peru Fernando Julio Antonio Quiros Campos during a ceremony at the Malacañang on January 21. KING RODRIGUEZ/PRESIDENTIAL PHOTO

E-MOTORCYCLES FOR MPD Manila Mayor Joseph E. Estrada shakes hands with

Ambassador of China Zhao Jianhua (center) during the turnover of 50 electric motorcycles to the Manila Police District on January 28. PNA PHOTO BY AVITO C. DALAN

International community expresses solidarity with PHL

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NUMBER of foreign embassies have sent their condolences in the wake of the twin bombings in Jolo, Sulu, over the weekend, particularly to the affected families.

“My thoughts are with those who lost loved ones and [individuals] affected by the attacks,” Ambassador of Australia to the Philippines Steve Robinson said.

In a message on his official Twitter account, Robinson reaffirmed his country’s “strong condemnation” of all acts of terror.

European Union’s Ambassador to the Philippines Franz Jessen shared similar sentiments, as he conveyed “deepest condolences and sympathies to the families of those who were killed and injured” in the incident.

“I express my solidarity with the Filipino people during these trying times,” Jessen said in a statement.

“Filipinos have always been resilient, steadfast and collaborative...I am certain that these values will see them through in this sad situation,” he added.

Japan’s embassy in Manila on

Tuesday also offered “sincerest condolences” to the victims of the explosions.

“Such terrorist attacks shall never be tolerated. Japan firmly condemns this terrorist act in the strongest terms,” Ambassador Koji Haneda said, as he expressed solidarity with the Philippine government.

Meanwhile, he reiterated Tokyo’s support to the peace process in Mindanao and the recently ratified Bangsamoro Organic Law (BOL). “[We] will continue to support the Philippines in achieving sustainable peace and stability in Mindanao in accordance with the ongoing political transition process under the BOL,” he pointed out.

Further joining the international community in deploring the terror act, considered the worst in recent years, was United Kingdom Asia and the Pacific Minister Mark Field.

“Our prayers are with all the victims and their loved ones. The UK stands with the Philippines against terror and hatred,” he said in a tweet.

World leaders sympathize

THE Chinese, Russian and French governments, likewise, renewed their commitment to support and step up their engagements with the Philippines in fighting violent extremism and terrorism following the deadly blasts.

China’s Foreign Ministry Spokesman Geng Shuang said Beijing “strongly condemns” the violent attacks in Sulu province and condoles with the bereaved families.

“China opposes all forms of terrorism and stands ready to work with the international community, including the Philippines, to jointly combat threats and challenges posed by terrorism [as we] safeguard international and regional peace and stability,” he said in a press conference in Beijing on Monday night.

Russian President Vladimir Putin, in a telegram sent to President Duterte, stated his country’s “readiness to further step up interaction” with Philippine partners in combating terrorist threat in all its forms and manifestations.

“A crime committed against civil-

ians who had congregated for church services is shocking in its cynicism and cruelty. I expect that the masterminds and perpetrators of this crime will sustain the punishment they deserve,” Putin said.

“People in Russia share the grief of the victims’ friends and families, and hope for a prompt recovery of the injured,” he added.

In a statement on Tuesday, the French Ministry for Europe and Foreign Affairs said it is one with the Philippines in its fight against terrorism. It read, “France utterly condemns the attack against the cathedral in Jolo [on] January 27.” “[Our country] extends its condolences to the victims’ families, as well as to the Filipino people. It stands alongside the Philippines in the fight against terrorism,” the document further stated.

India’s Prime Minister Narendra Modi also sent a message to President Duterte about the attacks, saying “violence and terrorism have no place in democratic and pluralistic society such as ours,” and that his country “condemns such acts of terrorism in the strongest terms.

[We] are ready to work with the Philippines in all possible ways to counter this global menace.” Joyce Ann L. Rocamora/PNA, Embassy of India in the Philippines

Japan sends monitoring mission for plebiscite

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MONITORING team from Japan went to Cotabato City on January 21 as international observers of the first plebiscite for the ratification of the Bangsamoro Organic Law (BOL).

The mission, headed by Parliamentary Vice Minister Norikazu Suzuki, had a total of 13 members representing the Ministry of Foreign Affairs of Japan, the Office of the Cabinet Secretariat of the International Peace Cooperation Headquarters and the Japan International Cooperation Agency.

On the plebiscite day, the team visited Sero Central Elementary School in Cotabato City and observed the opening of the voting precinct, the exercise of the right of suffrage by registered voters, until the counting and canvassing of votes by the Cotabato City plebiscite board of canvassers.

Suzuki said he was very impressed by the passion of the voters who cared about the future of their region, and praised the dedication of publicschool teachers who conducted the procedure “impartially with a firm attitude.”

On January 22 Suzuki and the mission met with Presidential Adviser on the Peace Process Carlito

MYANMAR INFORMATION MINISTER VISITS Presidential Communications

Operations Office Secretary Martin M. Andanar and Myanmar Minister of Information Pe Myint pose for posterity at the Kalayaan Hall in Malacañang on January 25. ALBERT ALCAIN/PRESIDENTIAL PHOTO

Unicef calls for stronger implementation of juvenile law

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HE United Nations Children’s Fund (Unicef) called for the stronger implementation of Republic Act 9344, or the Juvenile Justice and Welfare Act (JJWA) of 2006.

During the Senate hearing on bills lowering the minimum age of criminal responsibility, Unicef Representative to the Philippines Lotta Sylwander said the present juvenile justice law is a “very solid” one, but the problem lies in its implementation.

“There seems to be no accountability to actually implement it from LGUs [local government units], from the DSWD [Department of Social Welfare and Development], etc.,” Sylwander protested.

“Changing the law, or doing something different, is not going to change anything unless we are, as a collective, ready to implement it,” she added.

The representative argued that while children are still accountable for their crimes, they should be given another lease in life.

“They can be taught and they can be given, and should be given, a second chance.... We don’t want to create criminals. We want to save them from being [such],” she said.

Dr. Liane Alampay of the Psychological Association of the Philippines echoed Unicef’s remark, saying that the problem on juvenile delinquency will not be solved by lowering the age threshold of criminal liability, but by stronger implementation of the law.

Alampay said the move to lower the criminal liability age to 12 years

Galvez Jr. and Moro Islamic Liberation Front (MILF) Chairman Al-Hajj Murad Ebrahim. He explained that Japan dispatched the plebiscitemonitoring mission as a partner of the Philippines, with whom it has stood “shoulder-to-shoulder [with]” for more than 10 years in the Mind-

anao peace process.

Suzuki assured that Japan will strengthen its support according to the progress of the peace process, and underscored the importance of the smooth implementation of the decommissioning of MILF combatants.

The embassy noted that Galvez

and Chairman Murad both expressed their gratitude for the support and assistance from Japan, their expectations for the continuing warm relations between the two countries, and their resolve to implement the peace process. Japan Information and Culture Center

old would make “thousands of children” vulnerable to all the implementation failures in the country’s social welfare system, particularly noting the lack of child-caring reform centers or “Bahay Pag-asa.” “[These involve] all the implementation failures and the risks that children will actually be in detention centers, in places without rehabilitation programs. We’re not just talking about Bahay Pag-asa as structures; we mean programs.

Many of these [centers] do not have formative programs for young children,” she noted.

The doctor warned of recidivism, or the tendency of a juvenile offender to repeat an offense, due to the poor implementation of the rehabilitation programs. “[If we further lower the age threshold], I worry that we are really exposing thousands and thousands more children to very vulnerable conditions that could really narrow their life options [in the future],” she said.

“The risk is higher that they will be repeating their offenses because of poor implementation,” she added. Filane Mikee Cervantes/PNA

EU hails peaceful plebiscite, pledges support for BOL

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PARLIAMENTARY Vice Minister Norikazu Suzuki (second from left) led a team of Japanese observers in Cotabato City during the conduct of the recent plebiscite for the ratification of the Bangsamoro Organic Law. JAPAN INFORMATION AND CULTURE CENTER

UNICEF Representative to the Philippines Lotta Sylwander

HE European Union (EU) praised the Philippines for the peaceful conduct of the Bangsamoro Organic Law (BOL) plebiscite in Cotabato City.

In a statement released Friday night, the bloc, in concurrence with all EU heads of diplomatic missions in the Philippines, congratulated the government, the Moro Islamic Liberation Front, and the Commission on Elections (Comelec) “for the generally peaceful conduct” of the initial polls before the second phase of the plebiscite.

“The EU is prepared to continue to support the implementation of the Bangsamoro Organic Law and to work closely with the relevant stakeholders toward [achieving] long-lasting peace, development and prosperity for the benefit of Mindanao and the Filipino people,” the statement read.

The EU emphasized that the establishment of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) serves as a “significant milestone in the history of the Philippines.”

“The European Union has been a staunch supporter of the Mindanao peace process throughout the years, expressing its political support [and] encouraging all sides to pursue a peaceful solution, as well as providing substantial financial support,” it noted.

On Friday the Comelec en banc, sitting as the National Plebiscite Board of Canvassers, proclaimed the ratification of the BOL after counting all four certificates of canvass of Monday’s plebiscite.

Based on the canvassing, people from the Autonomous Region in Muslim Mindanao were in favor of the BARMM’s creation as manifested by 1,540,017 votes.

Cotabato City also opted to join the BARMM, with 36,682 “Yes” votes.

The second BOL plebiscite will be held on February 6 to determine if the province of Lanao del Norte, as well as the municipalities of Aleosan, Carmen, Kabacan, Midsayap, Pikit and Pigkawayan in the province of North Cotabato will be part of the new autonomous political entity. Joyce Ann L. Rocamora/PNA