BusinessMirror July 01, 2019

NAIA 7TH FASTEST APAC AIRPORT TO EXIT

By Recto Mercene

T PASSENGERS are seen at the Naia Terminal 3 in this 2018 BusinessMirror file photo. A Berlin-based firm said that among the AsiaPacific terminals, the Ninoy Aquino International Airport (Naia) is the seventh fastest to exit.

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

@rectomercene

HE Ninoy Aquino International Airport was ranked the 7th fastest Asia Pacific (Apac) airports to exit, according to a survey released by Blacklane, a global chauffeur and airport concierge service.

It takes less than an hour for travelers to exit the Ninoy Aquino International Airport after deplaning, gathering their luggage, clearing customs and immigration, and walking to vehicles with chauffeurs—making the Philippine capital among the fastest airport terminals to exit in Asia, a news report released on Wednesday found.

Specifically, passengers would only need an average of 37 minutes to exit the Naia—the seventh fastest airport in the region for international arrivals, according to the Berlin-based company.

Shanghai’s Pudong Airport was ranked second fastest to exit.

In the Asia-Pacific region, airports in China, Australia and India get international travelers through faster, with gateways in Shanghai and Macau securing the top 2 spots at 22 minutes and 32.5 minutes, respectively.

On the flipside, Blacklane found that capital cities are “the majority of the slowest airports to exit in Apac for international travelers.”

BusinessMirror A broader look at today’s business

www.businessmirror.com.ph

n

Monday, July 1, 2019 Vol. 14 No. 264

90-day transition urged for NCR ecozone ban ₧34.23B T

By Elijah Felice E. Rosales

@alyasjah

RADE Secretary Ramon M. Lopez will ask President Duterte to extend the transitory period of his moratorium on economic zone development in Metro Manila, as over P34 billion worth of projects are at risk of getting derailed by the ban.

Although supportive of the policy, Lopez said he will write the President a request to extend the transition of the moratorium to at least three months. This should provide developers more time to comply with the documents

required by the Office of the President (OP).

“I will just review [how] many months [are needed], but I think three months is good enough,” Lopez said in an interview with reporters last week.

Under Administrative Order 18, Duterte directed the Philippine Economic Zone Authority (Peza) to no longer accept, process or evaluate applications for the putting up of economic zones in Metro Manila. Applications en-

Worth of projects at risk if the ecozone ban in Metro Manila pushes through without a reasonable transition. The transition is to save 22 proposals to establish IT centers and parks in Metro Manila that are pending with the OP but lack certain documents

dorsed to the OP and with complete documents are exempted from the order.

On the other hand, applications already on the President’s table but are insufficient in requirements were imposed a deadline of 30 days from June 22—the publication of the moratorium in a national newspaper—to be completed.

See “Ecozone,” A2

By Bianca Cuaresma @BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) has urged Congress to push more banking legislation this year in an effort to make the local financial landscape more competitive and accessible to Filipinos nationwide.

Over the weekend, the Central Bank released a statement outlining its legislative agenda for the 18th Congress. The BSP said the agenda is expected to “further promote access to quality financial products and espouse the interests of the general public.”

The legislative agenda includes these bills: amendments to the Bank Deposit Secrecy laws, the Financial Consumer Protection bill and the Agricultural Financing reforms, among others.

PESO EXCHANGE RATES n

“ We sh a l l work w it h t he 18th Congress in the legislation of laws that support a strong economy and promote a high quality of life for all Filipinos,” BSP Governor Benjamin E. Diokno said. “This is the BSP’s vision. But we cannot do it alone. We need the help of various stakeholders to make this happen,” he added.

Among the recently passed laws are Republic Act 11211 which amended RA 7653, the Charter of the Bangko Sentral ng Pilipinas; RA 11127 or the National Payment Systems Act; RA 11055 or the Philippine Identification System (PhilSys) Act; and RA 11256 or the “Gold Law.” Meanwhile, the Islamic Banking Framework Bill is currently for transmission to the Office of the President for signature.

Continued on A2

2018 EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

P25.00 nationwide | 5 sections 28 pages | 7 DAYS A WEEK

PHL BANKS, INDIVIDUALS DEPOSITED 20.2% MORE IN SWISS BANKS IN 2018

By Cai U. Ordinario

M

@caiordinario

ONEY deposited by Filipino banks and individuals in Swiss banks grew 20.23 percent in 2018, according to a report released by the Swiss National Bank (SNB).

SNB data showed that Filipino money deposited in Swiss banks reached CHF2.59 billion or P136.15 billion in 2018, higher than the CHF2.16 billion or P113.23 billion in 2017.

The 2018 figure in pesos represented 1.48 percent of the country’s GDP in constant prices which was at P9.21 trillion last year.

Data also showed that this amount was the highest since 2014 when Filipino money deposited in Sw iss ba n k s reached CHF2.64 billion or

BSP pitches agri finance, bank secrecy reforms

T

“Tokyo has two of the 10, with Beijing, Colombo, Hanoi and Kuala Lumpur on the list. All of these take at least 46 minutes to exit.

Some of the important factors cited for the short exit time are the smaller size of aircraft and airport terminals.

Also considered was the substantial deployment of airport employees to accommodate passengers, as well as new technology such as e-gates that speed up travelers’ exit.

Transportation (DOTr) Secretary Arthur P. Tugade commended the Manila International Airport Authority (Miaa), under General Manager Ed Monreal, for the international citation.

See “Naia,” A2

P138.31 billion.

The increase in Filipino money in Swiss banks was driven by the 40.73-percent growth in the liabilities of the banks in respect to customers, which grew to CHF1.65 billion or P86.75 billion.

The deposits of individuals from the Philippines was the highest since 2008 when it reached CHF1.79 billion or P94.01 billion.

Swiss bank’s liabilities due to banks grew 22.26 percent to CHF881.06 mil lion, or P46.24 billion in 2018, from CHF720.67 million or P37.82 billion in 2017.

The amount due to banks was the highest since 2015 when it was at CHF965.86 million or P50.69 billion.

The SNB also reported that the fiduciary liabilities of Swiss See “Swiss banks,” A2

Palawan gov: Economic renaissance within reach

P

‘UNLI’ TOY STORY Toy enthusiasts view thousands of items on exhibit at the 2019 ToyCon PH, a three-day event that ended on Sunday at the SMX Convention Center in Pasay City. ROY DOMINGO

ALAWAN Gov. Jose C. Alvarez has vowed an economic renaissance for the province, which is set to be divided intro three provinces, anchored on a platform of tourism that would reduce poverty incidence to 26 percent from its previous level of 60 percent.

Alvarez made the promise after the oath-taking of the newly elected officials of the municipalities of Palawan in his inaugural address at the City-state Asturias Hotel. There, he bared the building of four regional airports in the province that would bring in a target of 5 million tourists and money in circulation of P250 billion from tourism.

See “Palawan gov,” A12

US 51.3580 n JAPAN 0.4765 n UK 65.1117 n HK 6.5717 n CHINA 7.4672 n SINGAPORE 37.9614 n AUSTRALIA 35.9917 n EU 58.4043 n SAUDI ARABIA 13.6955

Source: BSP (28 June 2019 )

News

BusinessMirror

A2 Monday, July 1, 2019

www.businessmirror.com.ph

GOCC dividends seen to breach ₧50-B mark

T

By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) expects the dividends remitted by governmentowned and -controlled corporations (GOCCs) for 2019 to easily surpass the P50-billion mark, as these agencies have already remitted P44.69 billion as of mid-June this year.

Finance Assistant Secretary Soledad Emilia J. Cruz reported at a recent DOF Executive Committee (Execom) meeting that the mid-June total of P44.69 billion is

BSP pitches agri finance, bank secrecy reforms Continued from A1

Diokno, reputed to be a reformist throughout his public service career, said that he will strictly and promptly implement these recently passed laws. “ T hese str uctura l refor ms strengthen the BSP’s monetary stability and financial supervision functions, introduce much-needed financial reforms, and create a solid foundation for the BSP’s financial inclusion advocacy,” he noted.

The BSP said proposed amendments to the Bank Deposit Secrecy laws aim to make financial institutions comply with international standards on transparency and combat both domestic and global tax evasion, money laundering and other financial crimes.

On the other hand, the Financial Consumer Protection bill aims to provide a comprehensive financial consumer protection regime that consolidates financial inclusion, financial education, good governance, and effective supervision for the purpose of consumer protection The BSP also said the proposed reforms to Agricultural Financing include changes in the Agri-Agra Reform Credit Act of 2009 (Republic Act 10000), which mandates banks to allot at least 10 percent of total loanable funds for agrarian reform beneficiaries (ARBs) and 15 percent for farmers and fisherfolk.

Amendments to this law will allow banks to merge their loan allocation to the farm sector as a measure to improve banks’ compliance rate.

Naia. . .

Continued from A1

“I congratulate the Miaa for this achievement. This is evidence that the management of the country’s main gateway is geared toward enhancing the comfort and convenience of the airriding public, as aspired for by no less than President Duterte himself,” Tugade said.

Monreal thanked Tugade for his support, calling it the “driving force” behind the triumphs of Miaa and the department in general in the past three years.

“Secretary Art’s vision and passion for work are like no other, and we are thankful to have him at the helm,” Monreal said.

“I share this cordial review with all airport agencies, public and private, whose mandates are to ensure a pleasant and hassle-free airport experience for travelers. Collaboration is the key to a healthy and effective support system in Naia,” the airport chief added.

Blacklane’s service is available in more than 60 countries, 300 cities, and at over 500 airports worldwide.

57 percent higher than the 2018 collections of P28.47 billion for the same period.

“Cash dividend collection from GOCCs reached P44.69 billion as

of June 14, 2019. We expect this to breach the P50-billion mark by the end of the year,” Cruz said.

The top 10 dividend contributors for the mid-June 2019 period are the Philippine Amusement and Gaming Corp. (Pagcor) with P16.17 billion, followed by the Philippine Deposit Insurance Corp. (PDIC) with P4.58 billion and the Bangko Sentral ng Pilipinas (BSP) with P4 billion, according to the report submitted to Finance Secretary Carlos G. Dominguez III. Also forming the top 10 dividend contributors are the Philippine Ports Authority (PPA) with P3.52 billion; Civil Aviation Authority of the Philippines (Caap) with P3.51 billion; Manila International Airport Authority (Miaa) with P3.42 billion; Land Bank of

₧44.69B

The mid-June total of cash dividend collection of GOCCs, 57 percent higher than the 2018 collections of P28.47 billion for the same period the Philippines (LandBank) with P1.96 billion; National Power Corp. (NPC) with P842.38 million; Clark Development Corp. (CDC) with P815.77 million; and the Philippine Charity Sweepstakes Of f ice (PCSO) w it h P74 4. 23 million.

According to the DOF, cash dividend collections from GOCCs reached P30.46 billion in 2017 and P40.18 billion in 2018.

BOC firm on collecting additional MDM tariff T

HE Bureau of Customs (BOC) maintained that it followed the law in demanding more money from traders that paid a lower tariff of 5 percent on mechanically deboned meat (MDM) of chicken after the effectivity of the rice trade liberalization law.

In a letter sent to the Meat Importers and Traders Association (Mita), BOC-Manila International Container Port District Collector Erastus Sandino B. Austria also said the agency was not retroactively applying the 40-percent tariff rate on chicken MDM. “With the effectivity of Republic Act [RA] 11203, or the ‘Rice Tariffication Law’ on March 5, 2019, the imposition of higher rate of duty is in fact a prospective application of the law,” the letter read.

Austria cited Executive Order (EO) 23 issued by President Duterte in April 2017, particularly section 6 which pertained to the effectivity of the order.

“This Order...shall be applicable until June 30, 2020, or until such time that a law amending certain provisions to rice tariffication in R A 8178 is enacted, whichever comes first after which the MFN [Most Favored Nation] rates of duty as provided for in Columns 8 of Annexes A and B shall then apply,” the EO read.

Since R A 11203 amended R A 8178, Austria said the BOC applied the 40-percent tariff rate as indicated in EO 23’s Column 8.

However, the E2M system of the BOC did not immediately reflect the 40-percent tariff rate last March 5 when the new law took effect. This resulted in traders being assessed a 5-percent tariff rate for their chicken MDM shipments.

The E2M (electronic-to-mobile) system was rolled out by the BOC in 2008 to streamline imports and exports processing.

“Accordingly, it was recommended that those shipments,

covering the period of March 5, 2019, to May 16, 2019, be forwarded to the Liquidation and Billing Division of this Port for the issuance of demand letters. Said demand letters reflect the issuance in customs duties between the previous 5 percent and the correct 40 percent rates of duty,” the letter read.

“It is within the ambit of this Port to verify, check and review computations of formal, informal and withdrawal entries based on the applicable foreign exchange rates, the correct dutiable and taxable values,” it added.

Last June, the BOC said importers of MDM of chicken whose shipments were assessed a lower tariff of 5 percent even after the effectivity of the rice trade liberalization law in March will have to pay the government more.

Chicken MDM is a key component for processed meat products, such as hot dogs and canned luncheon meat . Rea Cu

DOTr uses Clark ‘template’ for unsolicited proposals Continued from A12

one proposal at a time in constructing new and expanding existing airports. He asserted that authorities are not panicking in trying to resolve the congestion at the country’s main gateway, the Ninoy Aquino International Airport (Naia).

The business community raised before Dizon its concern that the government might be all over the place in trying to resolve the Naia congestion.

It feels the government’s strategy in building and expanding airports is scattered and nearly disorganized. Further, there is apparently no clear message as to what will be secondary to Naia: Clark International Airport in Pampanga, Sangley Point International Airport in Cavite or the proposed

Swiss banks. . .

Continued from A1

banks from Philippine-based entities continued to grow. Data showed that fiduciary liabilities inched up by 1.82 percent to CHF49.37 million or P2.59 billion, from CHF48.49 million or P2.54 billion.

New Manila International Airport in Bulacan.

“We have to build more, whether that be the expansion of Naia or the construction of Sangley airport. The attitude of the government now is, let’s try to process all of them. However, Clark is a little different, as it is not a plan because it is already there,” Dizon explained.

“The master plan is done, so it is really just a matter of execution. It is about proper phasing and swiftness of execution,” he added.

Dizon said the Clark airport is the most viable alternative now that its passenger and flight counts are jumping. In 2016, there were only about 50,000 domestic travelers who used Clark, but this is projected to hit 2.5 million local passengers this year.

Domestic flights surged to over 500 per week this year, from six flights per week in 2016. In a similar trend, international flights doubled to over 240 per week, from 120 per week. Such spike in flights is seen to boost the passenger traffic.

“The first phase is slated to be done next year and our plan after the opening of the terminal next year is we immediately move to the second phase,” the BCDA chief said.

“The construction of the second runway and the expansion of the existing terminal should double our 10-million-passenger-per-year capacity. With this, we are well on our way to expanding Clark to its ultimate design, which is to be able to receive 80 million passengers annually,” he added.

Meanwhile, the total deposits from Asia and the Pacific developing countries in Swiss banks reached CHF48.58 billion in 2018, which represented a contraction of 8.26 percent from the CHF52.95 billion in 2017.

Of the Asean countries that had deposits in Swiss banks, Singapore had the highest amount of depos-

its at CHF31.72 billion followed by Thailand at CHF3.93 billion and Indonesia, CHF3.2 billion.

In a statement, the SNB said at the end of 2018, there were 248 banks in Switzerland. Of this number, 216 reported a profit with an aggregated total of CHF12.8 billion. Losses amounting to CHF1.3 billion were recorded by 32 banks.

With a report by Elijah Felice E. Rosales

Retained earnings

CRUZ explained that the dividends due from LandBank corresponding to their 2016 net earnings amounting to P6 billion were not remitted in 2017, while dividends due from LandBank and the Development Bank of the Philippines (DBP) totaling P11.06 billion, corresponding to their 2017 net earnings, were also not remitted in 2018.

“Instead, these government financial institutions [GFIs] were allowed to retain their dividend contributions for use in increasing the development needs of the country,” she added.

If the dividend contributions from LandBank and DBP were taken into account, the actual collections from GOCCs would have reached P36.46 billion, and P51.24 billion

for 2017 and 2018, respectively.

The DOF pointed out that for the period from July 2016 to midJune 2019, the total cash dividend collections under the Duterte administration now amounts to P115.61 billion.

GOCCs are required to declare and remit at least half of their net earnings as dividends to the national government, under Republic Act (RA) 7656 or the GOCCs dividends law.

In January 2019, the DOF reported that the dividends remitted by GOCCs for 2018 breached the P40-billion mark. That sum, P40.17 billion, was the highest ever collected since the law requiring state firms to hand over 50 percent of their annual net earnings to the national government was enacted in 1994.

Poor households see less savings in Q2

P

OORER households in rural areas have less to save in the second quarter of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed —mirroring their concerns over high prices of goods and services in the country.

In the BSP’s quarterly survey of consumer expectations, the Central Bank’s data showed the overall percentage of households with savings went down from 36.6 percent to 35.2 percent in a span of three months.

The segment most impacted during the period were the low- and middle-income earners in areas outside the National Capital Region (NCR).

Broken down, 21.7 percent of the low-income earners in NCR said they have savings for the quarter —rising from the 17.7 percent last quarter. The high-income earners also reported better saving habits during the period, as 63.3 percent said they have savings for the second quarter of 2019, up from the 58.9 percent in the previous quarter. The middle-income earners, however, said only 36.3 percent of them can have savings during the period, slightly down from the 36.7 percent in the previous quarter.

For households in areas outside NCR, however, the low-income earners said only 19.9 percent of them could set aside money during the quarter, down from 21.8 percent in the previous quarter.

Middle-income earners’ savings

Ecozone. . .

Continued from A1

According to Peza Deputy Director General Tereso O. Panga, there are 22 proposals to establish information technology (IT) centers and parks in Metro Manila that are pending with the OP but lack certain documents. These projects amount to P34.23 billion, he said.

Peza officials plan to ask for a transitory period of at least six months to provide developers until the end of the year to submit their requirements, which are apparently time-consuming to obtain, such as land titles. The President placed the ban to force investors to locate their operations outside Metro Manila.

By doing so, he hopes to boost investment activities in the rural areas and create jobs in the process.

“The policy is really good. We need to push [investors to the rural areas] because the talents are outside [of Metro Manila] also.

Remember, what is happening is that the talents are compelled to go here in Manila,” Lopez said.

Aside from the 22 projects that could be derailed if Duterte maintains the 30-day deadline, there are 131 proposals to put up IT economic zones in Metro Manila approved by

also took a hit, with only 37.2 percent saying they have money to set aside, as against the 40.2 percent seen in the previous quarter. The higher income earners, meanwhile, were unfazed, with 49.4 percent of them saying they have savings in the second quarter of the year from the 48.2 percent in the previous year.

The BSP said according to respondents, Filipino households mostly save money for these reasons: emergencies, education, health and hospitalization, retirement, purchase of real estate and business capital and investment.

Among households with savings, the majority of savers (67.1 percent) kept their money in the bank for the second quarter of 2019, up from 63.9 percent in the previous quarter. Meanwhile, 46.8 percent kept their savings at home, and 34.1 percent put their money in cooperatives, paluwagan, other credit/loan associations; 11 percent kept them as investment such as in microfinance, insurance, mutual funds and stocks.

Overall, consumer confidence was bleak during the quarter as concerns for higher prices of goods and household expenses were cited. The BSP also said respondents were reeling from poor health and high medical expenses, as well as struggles with the water crisis, which may have also contributed to their pessimistic sentiment.

Bianca Cuaresma

the Peza Board but have yet to be endorsed to the OP. Peza executives vowed to appeal for their exemption from the moratorium.

Industry players are worried the ban will put business-process outsourcing (BPO) firms, which are mostly operating in Metro Manila, in an office space crunch.

The BPO industry expanded 420,000 square meters last year, and needs 450,000 square meters this year to accommodate expansions and new operations. With a head count of 1.23 million workers as of 2018, the industry accounts for at least 32 percent of office spaces in the Philippines.

According to data from the Peza, there are 262 IT economic zones—211 are centers and 51 are parks—operating across the country as of 2017.

Nearly 60 percent, or 155, of the operational IT centers and parks are located in Metro Manila. Peza officials argued the government has to first improve Internet infrastructure in the countryside before it can attract BPO firms to locate there.

Reflecting the general decline in investments registered with the Peza, investments in the IT industry from January to April fell 7.08 percent to P4.63 billion, from P4.98 billion during the same period last year.

The Nation BusinessMirror

www.businessmirror.com.ph

‘Govt also needs to address minors caught in drug war’

By Samuel P. Medenilla @sam_medenilla

T

HE government’s battle cry against child labor may have intensified over the years, but it remains conveniently silent on minors who fall victim to the illegal-drug trade.

The Federation of Free Workers (FFW) Vice President Julius H. Cainglet issued such criticism after the National Child Labor Committee (NCLC) declined during its meeting earlier this year to include young drug suspects in the coverage of its programs, stating these minors are covered by other government agencies instead.

Cainglet, the chairman of the Knowledge Management and Advocacy Sub-committee of the NCLC, opposed the decision emphasizing that child victims of government’s war against illegal drugs are considered victims like child laborers.

The most prominent among the young fatalities was Kian Loyd delos Santos, a 17-year-old, who was killed by police in 2017 for supposedly resisting arrest.

Cainglet said involving children and minors in the drug trade is an example of an illicit activity under Republic Act 9231 “is a worst form

US combat ship in PHL for military, civic activities

T

HE Independence-class littoral combat ship USS Montgomery (LCS 8) arrived in Davao City on June 29 for the ship’s first port visit to the Philippines during its first deployment, according to a statement from the US Embassy in Manila.

Rear Adm. Joey Tynch, commander, Logistics Group Western Pacific, the Embassy said, emphasized the importance of the “US-Philippine partnership.”

“Our navies, just like our nations, have a long history of cooperation and partnership based on mutual trust, respect and decades of friendship,” Tynch was quoted in a statement as saying.

“Every port visit and exercise we complete together continues to strengthen maritime security and regional stability.”

During the port visit, Montgomery will host activities for local military and civic leaders. The vessel arrived on the tail end of public discourse of the controversial run-in between Filipino and Chinese vessels at Recto Bank on June 9.

Cmdr. Edward A. Rosso, Montgomery’s commanding officer, said “it is an honor to visit one of the longest-standing US allies in the Indo-Pacific region.”

“My crew and I are very much looking forward to visiting Davao City,” Rosso said. “Port visits allow us to demonstrate our commitment to maritime security in the region, while strengthening relationships with our friends, partners and allies.”

According to documents provided by the US Embassy, littoral combat ships are designed to operate in nearshore environments and employ modular mission packages that can be configured for surface warfare, mine countermeasures or anti-submarine warfare. Recto Mercene

of child labor.”

“They are no different to children who are engaged in prostitution and other worst of child labor,” he added.

Separate treatment

THE same policy of segregation also applies for child combatants, who are recruited by terrorist groups.

In a previous interview, Labor Secretary Silvestre H. Bello III confirmed child combatants are indeed considered child laborers.

Bel lo, however, sa id t heir numbers are on ly accurately monitored by the “intelligence community” while government interventions on their welfare are managed by the government task force mandated to eliminate the communist threat.

Cainglet noted the noninclusion of certain minors in the government’s anti-child labor program shows there are still significant gaps in its implementation.

He added this hampers the government goal of reducing incidents of worst form of child labor in the country by 630,000 cases by 2022.

To address this, Cainglet said the government should make its anti-child labor programs more inclusive and integrated.

Editor: Vittorio V. Vitug • Monday, July 1, 2019 A3

Military, bishop call for greater security after bombing in Sulu

M

By Rene Acosta

@reneacostaBM

ILITARY and Catholic leaders called for greater security, especially in Mindanao, after a bombing in Sulu over the weekend that killed eight, including the two suicide bombers. Archbishop of Ozamis Martin Jumoad also called for retaining martial law in “unsafe parts” of Mindanao or areas where “peace and order” are unstable.

“There could be a lifting, but not for Basilan, Jolo, Tawi-Tawi, Maguindanao, Lanao del Sur, and other areas where peace and order are unstable.

Martial law must not be lifted [in those areas],” Jumoad said.

Mindanao has been placed under martial law since 2017 in the aftermath of the siege of Marawi City by the Maute group.

The Islamic State (IS) has owned up as behind the explosion last Friday, which rocked the camp of the 1st Brigade Combat Team at Barangay Kajatian in Indanan, Sulu, and took the life of three soldiers and two alleged suicide bombers.

The attack, which also killed three civilians and wounded 12 soldiers and 10 civilians, occurred weeks after

the military said it would intensify its operations against the ASG in Sulu since the terrorist group is no longer holding any kidnap victim and the military beef up its forces there.

It also occurred just as Major Gen. Cirilito Sobejana assumed his new post as commander of the Armed Forces Western Mindanao Command.

Sobejana had served as commander of the Joint Task Force Sulu, wherein the ASG was hunted to the hilt during his leadership of the task group.

Thwarted

THE Indanan attack was the second case of suicide bombings in Sulu in a span of six months following the January 27 Jolo Cathedral bombings that were perpetrated by an Indonesian couple. The church bombings, also occurred in succession, were also admitted by the IS. Armed Forces Chief of Staff Gen. Benjamin Madrigal Jr. condemned the attack on its camp, which happened after the IS has ordered its followers, especially those in the regions where it has an existing movement for a Caliphate, to step up their attacks against

governments and all other targets.

“We condemn the latest bombing in Jolo that victimized not only our soldiers but also civilians who were in the vicinity of the blast. Targeting soldiers and civilians whose only intention is to provide security and maintain peace in the communities is a cowardly act and deserves condemnation in the strongest terms possible,” Madrigal said.

The top military chief said the soldiers who perished during the twin attacks “did not die in vain” as they were able to detect and prevent the bomber from entering the camp.

Madrigal Jr. said the second bomber was also neutralized by soldiers before he was able to get inside the camp’s billeting area. However, the perpetrator “was able to detonate the bomb, which resulted in the wounding of other troops.”

Months after the latest attack, the Israeli Meir Amit intelligence has said that the IS has ordered its followers in the country to intensify their attacks while stepping up their recruitment efforts for new members.

With additional report by Samuel P. Medenilla

Lawmakers: Term sharing in speakership race ‘dead’

L

AWMAKERS have declared the term sharing in the speakership race as dead as such arrangement will only imperil the legislative agenda of the 18th Congress.

Capiz Rep. Fredenil Castro, Surigao del Sur Rep. Johnny Pimentel and Anakalusugan Party-list Rep. Mike Defensor said the decisions of lawmakers to reject the term-sharing agreement will save the chamber

from divisive leadership.

“Insisting on term sharing is indicative of weakness, if not political sloth. They want to be spoon-fed, bereft of any mandate from members of the House of Representatives,” Castro, president of the National Unity Party (NUP), said.

Earlier, Taguig Rep. Alan Peter Cayetano claimed that President Duterte himself is pushing for a term-sharing

deal between him and Marinduque Rep. Lord Allan Velasco to address the issue in the speakership race.

The election for the next speaker will be held on July 22, the same day as the President’s fourth State of the Nation Address.

Under the agreement, Cayetano said he would occupy the speakership post for the first 15 months while the remaining 21 months of

the 36th month of the 18th Congress will be by Velasco.

Some lawmakers have said the term sharing between Velasco and Cayetano is the “easiest way” to eliminate others eyeing the speakership.

Pimentel on Cayetano

ACCORDING to Pimentel, Cayetano is seeing a defeat in the speakership race that’s why he is insisting his term-

sharing agreement with Velasco.

Pimentel said in an interview that Duterte is clear in saying he will not interfere in the speakership race as all three candidates for the chamber’s highest position are his friends.

“I hope the good Congressman from Taguig will not be offended, because he could already see that Velasco already [has] the numbers,” Pimentel added.

Jovee Marie N. Dela Cruz

briefs U-TURN TWEAKS TO AFFECT 18,000 VEHICLES

ABOUT 18,000 vehicles would be affected by the relocation of the two U-turn slots along Commonwealth Avenue in Quezon City and C-5 Road-South Luzon Expressway on Sunday, Metropolitan Manila Development Authority (MMDA) General Manager Jose Arturo S. Garcia said on June 30. Garcia added the adjustment is to give way to the construction of the tunnel guide way for Metro Rail Transit 7 and in preparation for President Duterte’s fourth State of the Nation Address. Claudeth Mocon-Ciriaco

GROUP: STRICTLY APPLY S.O.C.E. REQUIREMENT

THE Legal Network for Truthful Elections wants 2019 officials from assuming their elected posts barred if they fail to submit their Statements of Contributions and Expenditures (SOCEs) to the Commission on Elections (Comelec). “There is no reason for them not to do so,” Lente Executive Director Rona V. Caritos said. “They should be transparent in their campaign expenses and contributions for people to be informed.” The deadline for the filing of SOCEs, as provided by Republic Act 7166, was on June 13. Elected 2019 candidates finally started their respective terms on Sunday. Samuel P. Medenilla

JORDANIAN NABBED FOR SWINDLING PINOYS

NEW WAVE

The sight of vehicles passing a flooded area, this one along Taft Avenue in Manila on June 29, is becoming a daily occurrence as the country entered the rainy season after a long drought that ended mid-June. Waste, construction materials, construction and poor drainage system have been blamed for the flooding, which has also caused severe traffic jams on major thoroughfares. ROY DOMINGO

THE Bureau of Immigration has arrested a Jordanian national who allegedly swindled two Filipino women by promising them with high-paying jobs in the Middle East. Immigration Intelligence Chief Fortunato Manahan Jr. identified the alien as 40-year-old Tarek El Abed Albarghouti, who was arrested recently in General Santos City by operatives from the BI’s Mindanao Intelligence Task Group (MITG). Albarghouti’s arrest came after two women filed a complaint against Albarghouti for allegedly taking their hard-earned money amounting to more than P30,000 as payment for processing and facilitating their departure to Dubai where they were purportedly recruited to work as hotel reservation officers. Joel R. San Juan

A4 Monday, July 1, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

DOT seeks higher arrivals from Asean

By Ma. Stella F. Arnaldo Special to the BusinessMirror

T

HE Department of Tourism (DOT) will be improving its marketing and promotions strategy to boost visitor arrivals from the Association of Southeast Asian Nations (Asean).

DOT Spokesman and Undersecretary for Tourism Development Planing Benito C. Bengzon Jr. made this disclosure at a roundtable with media last Friday. He said the agency would “deliberately chase short-haul markets,” such as Asean, as per recommendation of industry stakeholders during a meeting with them on June 26 at the Philippine International Convention Center.

Although arrivals from the

Asean grew by 31 percent to 530,321 in 2018, the market comprises only 7.4 percent of total visitor arrivals then at 7.17 million.

Last year’s total inbound tourists, he added, were revised to reflect an earlier uncaptured 30,000 plus arrivals data gathered from the Bureau of Immigration arrival/departure cards. This is a slight increase from the earlier announced 7.13 million arrivals last year.

In the first four months of 2019, arrivals from Asean dipped by 4.65 percent to 172,878, with most countries showing declines. The only Asean markets which showed improvement in arrivals from January to April were: Cambodia at 1,353 (up 5.54 percent); Myanmar at 3,853 (up 23.41 percent); and Vietnam at

19,869 (up 18.77 percent).

Bengzon said “part of the reason” for the drop in Singapore tourists is the lack of a tourism market representative. Arrivals from Singapore fell by 14.24 percent to 51,361 from January to April.

In the last survey of foreign tourists commissioned by the DOT (Global Survey on Foreign Tourists: Perception of the Philippines and the Branding Campaign “It’s More Fun in the Philippines” 2016) by Nielsen Inc., most Asians don’t consider the Philippines as a vacation destination despite its proximity because they don’t see it as unique, especially when compared to their respective countries. (See, “Foreigners list ‘the good, the bad and the ugly’ in PHL—Tourism poll,” in the Busi-

nessMirror, February 18, 2019.)

Also, negative perceptions about the country are prevalent (e.g., unsafe, dirty, traffic, poor roads, lack of halal food, long journey to destination, “chaotic” airport, corruption, terrorism, etc.) and outweigh the positives (e.g., beach, cheap, rich history, natural attractions, etc.).

The DOT official averred though that the main interests of our Asean neighbors in the Philippines are “shopping and entertainment.” He told of a recent familiarization tour DOT hosted for travel agents from Cambodia, and “they were all awed by our malls.”

For Malaysia and Singapore, Bengzon said “heavier advertising” will be required to boost arrivals from both markets. He noted this

would include “a slow but steady shift toward digital platforms, especially for the highly wired markets like Singapore,” and continue with “more familiarization tours to newer destinations that offer newer products, because we have to diversify.”

The large expatriate community and young couples have been identified as priority markets in Singapore and, thus, DOT will need to find out what exactly what they are looking for in the Philippines. “So we’re going to study that,” he said.

As for Malaysia, Bengzon noted more products need to be developed “in terms of halal-friendly establishments.” The Department of Trade and Industry is pushing for the development of more halal-friendly

NG subsidies to GOCCs up 36.63% in May–BTr

By Rea Cu

The Philippine Health Insurance Corp. (PhilHealth) was the second-biggest recipient of subsidy for the month, as it got P1.449 billion. PhilHealth did not receive any subsidy last year.

Multimillion subsidies were extended by the national government to the Philippine Coconut Authority (P755 million), the Philippine Fisheries Development Authority (P252 million), the National food Authority (P243 million) and the National Electrification Administration (P213 million).

Subsidies were also given to the Social Housing Finance Corp. (P96

@ReaCuBM

S

UBSIDIES extended by the national government (NG) to governmentowned and -controlled corporations (GOCCs) in May jumped by 36.63 percent to P5.236 billion, from last year’s P3.832 billion, according to data from the Bureau of the Treasury (BTr).

BTr data showed that the National Irrigation Administration (NIA) received bulk of the subsidy for the month amounting to P1.828 billion. The figure is 31.63 percent lower than the P2.674 billion it was given last year.

million), Philippine Heart Center (P74 million), Philippine Children’s Medical Center (P67 million), National Kidney and Transplant Institute (P50 million), Subic Bay Metropolitan Authority (P41 million) and Credit Information Corp. (P32 million).

Other GOCCs in the list are Center for International Trade Expositions and Missions (P28 million); National Home Mortgage Finance Corp. and Cultural Center of the Philippines (P24 million each); Lung Center of the Philippines (P23 million); Philippine Institute for Development Studies (P11 million);

the Philippine Institute of Traditional and Alternative Health Care, and the People’s Television Network Inc. (P6 million each); Light Rail Transit Authority (P5 million); Aurora Pacific Economic Zone and Freeport Authority (P4 million); Southern Philippines Development Authority (P4 million); and the Zamboanga City Special Economic Zone Authority (P4 million).

In January to May, BTr data showed that the national government’s disbursements fell by 63 percent to P19.658 billion, from last year’s P52.994 billion.

Run-of-river hydropower developers have more time to qualify for FiT

By Lenie Lectura

@llectura

D

EVELOPERS of run-of-river power-generation plants will have more time to finish their projects to qualify for the feed-in-tariff (FiT) that guarantees payment for their capacity output for 20 years.

Energy Secretary Alfonso G. Cusi said last week that his office would extend the deadline from December 2019 until such time the 250-megawatt (MW) installation target is filled up.

“Run-of-river FIT will be extended to complete [the] 250-MW target, until it is full,” said Cusi.

For now, Cusi said, “less than 100-MW” of capacity out of the 250-MW installation target for run-of-river hydro project were able to secure a FiT rate of P5.90 per kilowatt hour (kWh).

This would be the second extension to be allowed by the DOE. The 250-MW installation target for run-of-river hydropower and biomass, respectively, expired at end-2017. However, since installation target was not fully subscribed, the agency extended this until end-2019.

The Philhydro Association Inc. had said that the main cause for the delay in the completion of projects has been the difficulty in securing permits from various national and local government agencies, in particular, the water permit and FPIC (Free and Prior Informed Consent) with the indigenous people.

A RUN-OF-RIVER hydroelectric system is regarded as the least disruptive to the environment. It works by redirecting river water through a weir into conveyance pipes toward a penstock and feeding it downhill to the power station. PHOTO FROM THE WEB SITE OF ABOITIZPOWER

Most of the three years allotted for the FiT installation target, said the group, was consumed by the permitting process alone.

Cusi said that only run-of-river hydropower projects would be extended again.

DOE-Renewable Energy Management Bureau director Myleen Capongcol said the 250-MW installation target for bio-

mass will “most likely be met.” “So far, the 100-percent nearly completed projects are mostly biomass. For run-of-river, it’s probably only less than half,” said Capongcol.

The Energy Regulatory Commission approved a FiT rate of P5.90 per kWh for run-of-river hydro covering an installation target of 250 MW in 2012. The regulator then reduced the run-of-river

hydro feed-in-tariff to P5.8705 per kWh for projects completed in January to December 2017 after reviewing and implementing the 0.5-percent digression rate.

The ERC also approved a feed-in tariff-rate of P6.63 per kWh for biomass in 2012, but reduced it to P6.5969 per kWh in 2017 to reflect the digressed rate for projects completed within the year.

products, and is seeking to identify halal-friendly hotels with the Philippines hosting of the Southeast Asian Games from November 30 to December 11.

Tourists from Malaysia slipped 0.28 percent to 48,722, data from the DOT showed.

He emphasized the importance of routes development to attract more Asean tourists, citing the return of the Davao-Manado flights which connect the Philippines to North Sulawesi, Indonesia. “Route development continues to play a pivotal role in tourism development,” he said.

Bengzon noted there were an additional 1.6 million seats into the Philippines, both scheduled and nonscheduled/charter flights.

TMAP urges Congress to ease bank secrecy law restrictions

T

HE Tax Management Association of the Philippines Inc. (TMAP) is calling on the 18th Congress to repeal the bank secrecy law so the government could put in place a more effective general tax amnesty system.

TMAP President Eleanor L. Roque told reporters that taxpayers are still keen on general tax amnesty, the repeal of the bank secrecy law to allow the scrutiny of “suspicious” bank accounts and the automatic exchange of information (AEOI).

“Well, the taxpayers are still hoping because it’s really a good component, it’s still part of the TRAIN [Tax Reform for Acceleration and Inclusion law]. Taxpayers are still hoping that the 18th Congress will still pass that general tax amnesty,” Roque said.

Apart from enabling a more efficient implementation of tax amnesty, she said the lifting of bank secrecy and the AEOI, are also international commitments of the Philippines.

“We are supportive of the DOF [Department of Finance] requirements, the lifting of the bank secrecy and AEOI. We do know that those are crucial [pieces of] legislation and that’s our international commitments, so the AEOI and lifting of the bank secrecy really needs to be passed,” Roque said.

“You can’t have an effective general tax amnesty without those rules. Who will avail if they feel that they can be caught?” she added.

Last March, the DOF said potential revenues from the implementation of the Tax Amnesty Act of 2019 or Republic Act (RA) 11213 is estimated at P27.54 billion, lower than the estimated potential revenues of P63.5 billion under its original amnesty proposal.

The DOF added that the projected revenue from implementing RA 11213 is lower due to the exclusion of the general tax amnesty and the AEOI provisions. Also, Congress has yet to pass a measure that would ease the restrictions in the bank secrecy law.

Under the original tax amnesty proposal of the DOF, which includes the said provisions, estimated revenue collections was seen to reach as high as P63.5 billion.

The DOF proposed tax amnesty measure, which is under its Package 1B of the Comprehensive Tax Reform Program, includes measures of an estate tax amnesty which is estimated to generate P6.28 billion; general tax amnesty, P13.63 billion; tax amnesty on delinquencies, P27.16 billion; and lifting of the bank secrecy law for criminal cases, as well as the AEOI, P16.6 billion.

President Duterte signed but partially vetoed RA 11213 in February because it did not contain a provision that lifted bank secrecy for fraud cases.

RA 11213 seeks to enhance revenue administration and collection by granting an amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years. This is with respect to estate tax and other internal revenue taxes and tax on delinquencies. Rea Cu

Report highlights rise of nontariff barriers in 3 industrial sectors in Southeast Asia

D

ESPITE repeated commitments, the Association of Southeast Asian Nations (Asean) has yet to accomplish the key goal of reducing or eliminating nontariff barriers (NTBs) to trade, which are obstacles to the region’s economic progress and integration, says a new report.

The joint report, launched on June 22 by the EU-Asean Business Council (EU-ABC) and Asean Business Advisory Council (Abac), highlights the business community’s concern over the proliferation of NTBs and how this “risks undermining progress and slowing economic growth.”

The report, “Non-Tariff Barriers in Asean and their elimination from a business perspective,” examined barriers to trade in automotive, agri-food

(alcoholic drinks, biscuits and seafood), and health care, identified as key priority sectors for Asean for some time.

For the Asean automotive industry, the sector is poised to experience stronger economies of scale and further growth, said the report. “However, the automotive industry is still affected by a broad suite of challenges that prevent the development of a truly integrated automotive industry.”

These challenges are due to controls in the form of quotas and licensing, complex conformity assessment procedures, unique national standards, high taxation regimes and discriminatory policies favoring local manufacturers, said the report.

These hindrances add cost to the automotive industry and to consumers, delay the delivery of new tech-

nologies and frustrates the creation of a genuinely competitive global industry, it added.

For the Philippines, the report noted that the country has long struggled to develop its own automotive manufacturing industry with a variety of policy mixes tried over the decades.

“It is the smallest of the Asean motor vehicle producers with production in 2017 accounting for 3.5 percent of the vehicles produced in Asean. Its industry has been undermined by used car imports and its current taxation arrangements are seen to favor imported small cars and pickup trucks,” said the paper.

The agri-food sector—essential for the Asean economy as a driver of food security and a source of export earnings—also faces many regula-

tory and technical constraints. Firms operating in the agri-food sector frequently report facing regulatory and technical constraints that create delays, impose costs, increase risks and add unnecessary complexity.

“Overall, a lack of harmonized regulatory requirements for agrifood products in the region represents significant costs for trading businesses and, as a result, presents a significant negative impact on trade, especially intra-regional food sector trade,” the report said.

For alcoholic drinks, opportunities continue to be undermined by high levels of taxation, often associated with counterfeit trade, complex licensing procedures, increasingly burdensome labelling requirements and marketing restrictions.

Rising income levels across the world provide both the boon of higher seafood demand, as well as the challenge for greater food safety standards.

“While firms interviewed in the project did not highlight many major obstacles to trade, seafood exporters still face inconsistencies during customs procedures, and strict conformity assessment and product registration procedures,” said the document.

The Asean biscuits sector is rapidly expanding as consumption around the world increases. Even in an area of relatively lighter regulation, biscuit makers still struggle with inconsistencies in customs clearance, complicated product registration processes and national halal certification standards.

Fueled by an expanding middle

class, a rise in personal income and a surge in private insurance coverage, Asean’s health-care sector is instrumental in meeting the needs of growing middle income and often aging populations.

However, Asean’s pharmaceuticals sector—one of the fastestgrowing in the world—is affected by an underdeveloped IP regime, inconsistent, discriminatory and opaque government procurement processes, and limited access to the public pharmaceuticals market.

The report set out a number of recommendations to Asean, aimed at helping the region accelerate the removal of NTBs. It was prepared by the Asian Trade Center, commissioned by the EU-ABC and Asean-BAC. Philexport News & Features

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, July 1, 2019 A5

PHL chicken inventory doubled in June

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s dressed chicken inventory as of June 10 more than doubled to 39,807.44 metric tons, from the 17,370.44 MT recorded in the same period last year, data from the National Meat Inspection Service (NMIS) showed.

On a weekly basis, however, the latest inventory was 6.29 percent lower than the 42,481.51 MT recorded on June 3.

Data from the NMIS also indicated that on a monthly basis, the latest inventory was 26.38 percent lower than the 54,076.21 MT recorded on May 13, a level which poultry raisers described as “unprecedented.”

Of the total June 10 inventory, imports accounted for 64.53 percent, or 25,688.67 MT, more than double the 9,687.67 MT recorded last year. However, the figure was lower than the 26,723.36 MT recorded last week and last month’s 39,345.54 MT. Locally produced chicken accounted for only 14,118.77 MT of the June 10 inventory. This was 83.77 percent higher than the 7,682.77 MT recorded last year.

Local poultry raisers have been reeling

from unprofitable farm-gate prices for months due to the chicken glut. This forced small and medium-sized poultry raisers to either cut, or totally stop production to avert incurring further losses.

Due to the cut in output, farm-gate prices started to recover in May and even breached the P100-per-kilogram level.

Prices also improved after the inventory started to decline.

The NMIS, an attached agency of the Department of Agriculture (DA), said the figures did not include fresh, chilled chicken and mechanically deboned meat, as well as those already in distribution channels.

Pork supply

NMIS data also showed that pork in coldstorage facilities as of June 10 rose by 18.65

BLOOMBERG NEWS

percent to 42,558.35 MT, from last year’s 35,868.3 MT. The latest inventory was also higher compared to its previous week and month’s level of 42,278.89 MT and 32,411.25 MT, respectively.

Imported pork accounted for 93 percent of the inventory as of June 10. Cold-storage facilities held 39,581.84 MT of imports, 30.58 percent over 30,310.67 MT recorded last year.

Local pork in cold-storage facilities

SL Agritech cuts buying price for palay from contract growers L OCAL hybrid-rice producer SL Agritech Corp. (SLAC) said it has cut its buying price for unhusked premium rice planted by its contract growers by almost half to P18 per kilogram.

SLAC Chairman and CEO Henry Lim Bon Liong said the company now buys rice from contract growers at P18/kg to P22/ kg. The firm used to pay farmers planting its hybrid rice anywhere from P29/ kg to P30 kg.

Lim said this is due to the lower prevailing buying price for palay this year due to the increase in imports, as well as the opening up of the domestic rice trade.

“We are paying higher than farm-gate prices. We pay 10 to 15 percent higher, but

[prevailing farm-gate prices] have gone down, so [our buying price] has also gone down,” he hold the BusinessMirror in a recent interview. “I think our farmers are still happy [with the price].”

Lim said he does not expect SLAC’s buying price to decline further as the company is keen on helping farmers cope with the adverse impact of the rice trade liberalization law.

SLAC said it made the necessary buying price adjustments after assessing the prevailing market prices during the summer harvest.

Lim said the company observed that farm-gate prices sank to P14/kg to P15/ kg, from more than P20/kg last year.

In January, Lim announced that SLAC will slash buying price for unhusked rice and the retail price of its premium rice products to remain competitive against cheaper imports.

Lim said 95 percent of SLAC’s rice products are sold locally while the remaining 5 percent are exported.

Last year, SLAC hiked the price of their premium rice products by at least 5 percent to cope with higher production costs caused mainly by more expensive fuel.

The average farm-gate price of palay as of third week of June has declined by 16.15 percent to P17.91/kg from P21.36/kg last year, latest Philippine Statistics Authority data showed. Jasper Emmanuel Y. Arcalas

More canned meat from ASF-affected countries seized in Zamboanga City

Z

AMBOANGA CITY—The city government’s Joint Task Force Karne and the Food and Drug Administration (FDA) have seized 298 cans of pork meat from countries affected by African swine fever (ASF).

Dr. Mario Arriola, Office of the City Veterinarian (OCVet) chief, said on Saturday the canned pork meat, all imported from China, were seized on Thursday from three establishments in this city.

A r r io l a s a i d i mp o r t e d c a n n e d goods, valued at P25,915.20, were in-

ventoried, sealed and placed under FDA custody.

Arriola said the weekly strike operations are part of the national ban on the importation, distribution and sale of all processed pork products from countries affected by the ASF virus.

The Department of Agriculture (DA) has issued bans against countries that have reported cases of ASF. These are Russia, Ukraine, Czech Republic, Moldova, South Africa, Zambia, Hungary, Bulgaria, Belgium,

Latvia, Poland, Romania, China, Mongolia, Vietnam, Cambodia, Hong Kong and North Korea. The World Organization for Animal Health said the ASF is a highly contagious hemorrhagic disease of pigs, warthogs, European wild boar and American wild pigs.

The virus is transmitted by direct contact, ingestion of garbage, swill feeds containing unprocessed infected pig meat or pig meat products, ticks and biting flies, and contaminated premises, vehicles, equipment and clothing. PNA

Pangilinan files 10 priority bills on coco levy, teachers’ pay hike

O

PPOSITION leader Sen. Francis N. Pangilinan opens the 18th Congress by filing 10 priority measures focusing on agriculture, environment and civil service on July 1.

This includes the much-delayed Coconut Farmers and Industry Development Act or the Coco Levy Act; bills on postharvest facilities, organic farming and expanded crop insurance; National Land Use Act of 2019; establishment of the Department of Fisheries and Aquatic Resources and the Department of Disaster and Emergency Management; Rainwater Management Bill; Single-Use Plastic Regulation and Management Act; and the Basic Education Teachers Pay Increase Act. “We will continue the fight we started even before the 17th Congress. We believe that prioritizing the agriculture sector and increasing the incomes of farmers and fisherfolk would help in alleviating poverty and bolstering the economy in rural areas. To support this endeavor, we must also pursue relevant legislations for the environment,” he said in a statement.

Pangilinan’s Sagip Saka Act (Republic Act 11321), a 2016 campaign promise passed into law

in the recently concluded 17th Congress, aims to ensure market for farmers’ and fishers’ produce by requiring government programs to buy from accredited farmers’ and fishers’ cooperatives and organizations, removing middlemen who often earn more than the food producers.

It exempts the government (national agencies and local) from the Procurement Law when they buy directly from these co-ops. It also exempts donors from paying donors tax when making donations such as capital outlay for farm equipment, postharvest facilities, and agriculture infrastructure, among others, to these organizations.

Coco levy

AFTER President Duterte vetoed it in the 17th Congress, the senator said he hopes that the proposed Coco Levy Act will push through in the 18th Congress.

“Our coconut farmers have been waiting for this for over 40 years. The longer they are not able to access the fund, the longer they live in poverty,” Pangilinan said.

Pangilinan’s Coco Levy Act is the first of the

five agriculture bills he is pushing for this 18th Congress. It aims to establish a trust fund to be utilized by coconut farmers and the coconut industry. It will also set up mechanisms for the disposition of some coco-levy assets, management and utilization of the available coco-levy funds, providing coconut farmers a say on how the fund will be managed, invested, allocated and utilized.

Teachers’ salary

RECOGNIZING that teachers are underpaid, Pangilinan filed a bill to increase the salary of public-school teachers, locally funded teachers, and Philippine Science High School System teaching and nonteaching personnel, and nonteaching personnel of the Department of Education, excluding those occupying positions from salary grade level 30.

The bill proposes an additional compensation of P10,000 per month to be paid in three tranches.

There will also be additional support in the form of allowances and remuneration from local school board funds, a medical allowance of P1,000 and an annual Magna Carta Bonus.

amounted to only 2,976.51 MT. The NMIS said the frozen-pork inventory included carcass, primal and specialty cuts.

The survey covered accredited commercial and in-house cold-storage facilities.

Hog raisers have been complaining of the high inventory of frozen pork due to the increase in imports. A few months ago, hog raisers said the increase in their output allowed them to record a surplus equivalent to 30 days of national consumption.

Government officials are strictly monitoring frozen pork inventories amid the disruption in international trade caused by the outbreaks of African swine fever in major hog-producing countries.

DA doc u ment s obt a i ned by t he BusinessMirror indicated that sans imports, the country’s pork shortage could reach 109,124.696 MT, equivalent to 22.83 days of national consumption.

A6

Monday, July 1, 2019 • Editor: Angel R. Calso

The World BusinessMirror

www.businessmirror.com.ph

Trump meets Kim in DMZ, becomes first US leader to enter North Korea

D

ONALD J. TRUMP became the first sitting American president to set foot in North Korea, briefly crossing the border in the Demilitarized Zone after meeting the country’s leader Kim Jong Un for the third time.

The two leaders shook hands and then spoke with reporters before entering a building on the South Korean side of the border. Trump hailed ties with Kim and invited him to the White House.

“Stepping across that line was a great honor,” Trump said.

“It’s a very courageous and determined act,” Kim said through a translator.

While Trump has met Kim twice at summits in Singapore and Hanoi, no US president has ever met a North Korean leader in the DMZ. Trump made his audacious invitation to Kim in a tweet on Saturday during meetings at the Group of 20 summit in Osaka, Japan, jolting the gathering of world leaders as well as officials in the US and Seoul.

“I saw that tweet and it felt like you’ve sent a flower of hope for the Korean Peninsula,” South Korean President Moon Jae-in told Trump on Sunday. “If you shake hands with Chairman Kim Jong Un at the Mili-

tary Demarcation Line, it would be historic, just by the picture of it.

Not only for the denuclearization of the Korean Peninsula, but also for a permanent peace in the region, it’ll be very meaningful.”

Trump and Kim have maintained friendly relations despite failing to agree on a path forward on a deal that would ease sanctions in return for steps toward eliminating North Korea’s nuclear threat. Their second summit, in Hanoi, collapsed after Trump refused Kim’s demand for sanctions relief in exchange for only dismantling North Korea’s main nuclear complex at Yongbyon.

PRESIDENT Donald J. Trump meets with North Korean leader Kim Jong Un at the border village of Panmunjom in the Demilitarized Zone, South Korea, on Sunday, June 30, 2019. AP PHOTO/SUSAN WALSH

‘Starting point’

MOON said on Sunday that if Kim were to “sincerely, completely” dismantle Yongbyon, the international community would be able to discuss easing sanctions.

“It’ll be the starting point for an irreversible denuclearization,” he said.

TRUMP views North Korea from the Korean Demilitarized Zone from Observation Post Ouellette at Camp Bonifas in South Korea on Sunday, June 30, 2019, with South Korean President Moon Jae-in. AP PHOTO/SUSAN WALSH

Trump defended his meetings with Kim, and claimed that his predecessor, Barack Obama, had sought to meet with the North Korean leader and been refused.

“A lot’s been done,” he said, citing Kim’s restraint from testing nuclear weapons and long-range ballistic missiles since talks began between the countries. “President Obama wanted to meet, and Chairman Kim would not meet him.

They were begging for meetings constantly.”

While Obama said before taking

office that he’d be willing to meet with Kim and other US adversaries, he never publicly sought a meeting during his presidency. US relations with North Korea turned sharply more hostile in 2009 after Pyongyang evicted international inspectors from its nuclear complex at Yongbyon and resumed development of nuclear weapons and ballistic missiles.

“We are so far advanced from where we were” in 2016, Trump said. He has repeatedly claimed that had former Secretary of State Hillary Clinton defeated him for the presidency, the US and North Korea would be at war.

“What’s happened is there was nuclear testing, there was ballistic missile testing, they had hostages of ours, as you know,” he said. “Very tough situation. And now we’re getting back our remains. We got back the hostages. There’s been no ballistic missile tests. And there’s been no nuclear tests. And South Korea’s a whole different place. And Japan.”

Meaningful handshake

THROUGHOUT meetings on Sunday morning, Trump and Moon both appeared unsure about whether Kim would appear. The US President repeatedly cautioned that the logistics were complicated, and he said that any meeting would be little more than a photo op.

“Chairman Kim wants to do it,” he said. “A handshake means a lot,” he added. Bloomberg News

Cease-fire in US-China trade war G-20 leaders sign agreements not expected to bridge differences W ASHINGTON—Once again, Presidents Donald Trump and Xi Jinping have hit the reset button in trade talks between the world’s two biggest economies, at least delaying an escalation in tension between the US and China that had financial markets on edge and cast a cloud over the global economy.

But when US and Chinese negotiators sit down to work out details, the same difficult task remains: getting China to convince the United States that it will curb its aggressive push to challenge American technological dominance — and then to live up to its promises.

At the Group of 20 meeting in Osaka, Japan, Trump and Xi agreed to a cease-fire in the trade conflict. Trump said on Saturday he would hold off for the “time being” on plans to impose tariffs on $300 billion more in Chinese imports—on top of the $250 billion he’s already targeted. This decision will jump-start trade talks that stalled last month.

“We’re going to work with China where we left off,” Trump said on Saturday. He also said China had agreed to buy more American farm products.

Andy Rothman, an investment strategist with Matthews Asia and a former economic official with the US Embassy in Beijing, said the Trump-Xi meeting was more conciliatory than he expected. He was struck by Trump’s use of the term “strategic partner” to describe US relations with China after other administration officials have played up the geopolitical rivalry between the two countries.

Addressing another contentious issue, Trump said he will now allow US companies to sell some components to Chinese telecommunications giant Huawei, which last month was put on an American blacklist as a threat to national security. Trump said that Huawei will stay on the blacklist, however, and that its future won’t be decided until the end of the trade talks.

Neil Shearing, London-based chief economist at Capital Economics, predicted that financial markets will rally with relief when they reopen on Monday. “But I don’t think this marks the turning of the tide,” he said. “Talks will ebb and flow, but the direction over the next 12 months will be toward renewed escalation because issues around industrial strategy will prove to be so intractable.”

The Trump administration says China is trying to cheat its way to dominance in the cutting-edge technologies of the future such as artificial intelligence and quantum computing.

In a report last year, the Office of the United States Trade Representative accused Beijing of resorting to predatory tactics to challenge American technological supremacy.

These include forcing foreign companies to hand over technology in exchange for access to the Chinese market; subsidizing its own companies (especially those owned by the state) while burying foreign firms in regulations; providing government money so Chinese firms can buy sensitive foreign technology at above-market prices; and stealing trade secrets outright.

Eleven rounds of talks failed to end the standoff. The United States has imposed 25-percent import taxes on $250 billion in Chinese products and threatened to target $300 billion more—a move that would extend the tariffs to virtually everything China ships to the United States.

China has lashed back with tariffs on $110 billion in American goods, focusing on agricultural products in a direct and painful shot at Trump supporters in the US farm belt.

The last time Trump and Xi met—in early December at a G-20 gathering in Buenos Aires, Argentina—they also reached a cease-fire that injected new life into the talks. But the momentum didn’t last.

Until May, it appeared that the two countries were slowly closing in on a deal. But then US officials accused their Chinese counterparts of reneging on commitments they’d made earlier, and talks broke down.

Getting them back on track could prove difficult. Beijing is reluctant to end subsidies to Chinese companies and to write any commitments into Chinese law. The Chinese also want the United States to drop its tariffs as a condition of any deal. But the Trump administration insists on keeping tariffs to use as leverage to make sure that China keeps its promises.

For now, business groups are relieved that the tariffs aren’t expanding and optimistic the two countries can reach a deal.

“We are encouraged that China and the United States have agreed to continue negotiations without further escalation of the mutually damaging trade war,” said Jason Ox-

man, president of the Information Technology Industry Council. “We are also relieved that President Trump has reconsidered his threat to impose additional tariffs, which would have accelerated harm to all American consumers, workers and businesses of all sizes.”

Still, the decision to go easy on Huawei drew immediate fire politically. “Huawei is one of few potent levers we have to make China play fair on trade,” said Senate Minority Leader Chuck Schumer, D-NY. “If President Trump backs off, as it appears he is doing, it will dramatically undercut our ability to change China’s unfair trades practices.”

The Commerce Department put the firm on a blacklist because of the possibility its equipment could be used for cyber espionage. Trump suggested that his administration will review the company’s status on Commerce’s so-called Entity List and cleared the way for US firms to sell it some components.

Both countries have economic and political incentives to reach a deal. Xi is overseeing a decelerating economy and likely won’t want to be engaged in a destructive trade war when China’s ruling Communist Party meets in October. Trump, too, is confronted with an economy that, though still healthy, has looked a bit wobbly. And the trade hostilities with China have hurt his supporters in rural America as he campaigns for reelection in 2020.

“This is a truce for now—for Xi, ahead of the Communist Party celebrations in October and for Trump, dependent on how his reelection campaign progresses,” said Diana Choyleva, chief economist at Enodo Economics. “But as we’ve said before, fundamentally, this dispute is about much more than trade—it’s part of a longer-term Great Decoupling that stems from a conflict over technological supremacy and geopolitical power. This is about redefining the world political and economic order, a process that will see periods of relative calm and also periods of significant turbulence.”

“Both Chinese and US leaders recognize the importance of bringing the relations back to the right track,” said Li Yong of the China Association of International Trade. “President Xi said we hoped to see normal relations. It’s hard to predict what will happen tomorrow, so I cannot say when the relations will return to right track.” AP

UNITED STATES President Donald J. Trump, talks with Russian President Vladimir Putin, as Turkey’s President Recep Tayyip Erdogan (second from right), and United Nations Secretary-General Antonio Guterres (second from left), look on, on the sidelines of the G-20 summit in Osaka, Japan, on Saturday, June 29, 2019. PRESIDENTIAL PRESS SERVICE VIA AP

O

SAKA, Japan—The Group of 20 leaders have signed agreements spanning a slew of issues including global warming, trade and international finance, the environment and sustainable development. Here are the highlights of the agreements from the Osaka, Japan, summit of the leaders of the G-20 major economies:

thinking about financing and the involvement of businesses in innovation and investment in sustainable growth.

But their declaration included a recognition of the US decision to withdraw from the Paris Agreement on reducing carbon emissions that lead to global warming and noted American progress from 2005 to 2017 in reducing such pollution.

TRADE AND THE GLOBAL ECONOMY: The leaders agreed to address inequality and use smart policies to protect against threats to global growth from tensions over trade and geopolitical issues. They pledged to build up financial “buffers” to ensure government debts are manageable and to ensure monetary policies keep prices stable and economies growing. The leaders also said they would work toward a “free, fair, nondiscriminatory, transparent, predictable and stable trade and investment environment” and “keep our markets open.”

CYBER SECURITY AND TERRORISM: The G-20 said it was committed to doing more to prevent use of the Internet to fund and facilitate terrorism and extremism. While the Internet must be open, free and secure, it also cannot serve as a “safe haven for terrorists,” the leaders said in a separate statement. The leaders also agreed that such efforts must respect human rights and “fundamental freedoms such as freedom of expression and access to information.”

GLOBAL WARMING AND ENVIRONMENT: Leaders discussed urgent problems with pollution, loss of biodiversity and climate change, noting the need for a shift in

SUSTAINABLE DEVELOPMENT: The leaders said they would work to ensure “no one is left behind” by alleviating poverty, investing in good quality infrastructure, promoting gender equality and providing access to health, education and training. AP

BusinessMirror

www.businessmirror.com.ph

of another student at school; or materially and substantially disrupting the education process or the orderly operation of a school; such as, but not limited to, the following: 1. Any unwanted physical contact between the bully and the victim like punching, pushing, shoving, kicking, slapping, tickling, headlocks, inflicting school pranks, teasing, fighting and the use of available objects as weapons; ***Excerpts from the minutes of the 117th Regular Session of the 7th City Council of Valenzuela held on June 03,. 2019 at 2:56 P.M. at the City Council's Session Hall, Floor, Legislative Building, Valenzuela City Hall,

2. Any act that causes damage to victim's psyche and/or emotional well-being;

Karuhatan, Valenzuela City, Metropolitan Manila.

3. Any slanderous statement or accusation that causes the victim undue emotional distress like directing foul language or profanity at the target, name-calling, tormenting and commenting negatively on victim's looks, clothes and body;

ORDINANCE NO. 567 Series of 2019

4. "Cyber-bullying" or any bullying done through the use of technology or any electronic means. The term shall also include any conduct resulting to harassment, intimidation, or humiliation, through the use of other forms of technology, such as, but not limited to texting, email, instant messaging, chatting, internet, social media, online games, or other platforms or formats as defined in DepED Order No. 40, 2. 2012; and

AN ORDINANCE CREATING THE “TASK FORCE BANTAY BULLY” AND “VALENZUELA ANTIBULLYING COUNCIL” AND EMPOWERING ANTIBULLYING COUNCILS, AS MANDATED, IN ALL PUBLIC AND PRIVATE SCHOOLS IN CITY OF VALENZUELA. ====================================== Authored by: Coun. CHI QUI MARIEN. CARREON and Coun. ROVIN ANDREW M. FELICIANO Co-authored by: Coun. ANTONIO R. ESPIRITU, Coun, RICARDO RICARR C. ENRIQUEZ, Coun. RAMON L. ENCARNACION, Coun.

KIMBERLY ANN DV. GALANG, Coun. CRISSHA M. PINEDA, Coun. KRISTIAN ROME T. SY and Coun. MARIA CECILIA V. MAYO

5. Any other form of bullying as may be provided in the school's child protection or anti-bullying policy, consistent with the Act and this IRR. a. 1. The term "bullying" shall also include: 1. "Social bullying" - refers to any deliberate, repetitive and aggressive social behavior intended to hurt others or to belittle another individual or group.

====================================== WHEREAS, the Local Government Code of 1991 (LGC) mandates cities to provide basic services and facilities such as "Social welfare services which include programs and projects on child and youth welfare, family and community welfare, women's welfare, welfare of the elderly and disabled persons; community-based rehabilitation programs for vagrants, beggars, street children, scavengers, juvenile delinquents, and victims of drug abuse; livelihood and other pro-poor projects; nutrition services; and family planning services;"

2. "Gender-based bullying" refers to any act that humiliates or excludes a person on the basis of perceived or actual sexual orientation and gender identity (SOGI). b) "Bully" - refers to any student who commits acts of bullying as defined by the Act or this IRR. c) "Bullied" or "Victim" - refers to any student who experiences the acts of bullying or retaliation as defined by the Act or this IRR.

WHEREAS, Article I of Presidential Decree No. 603 also known as, the "Child and Youth Welfare Code" states:

d) "Bystander'' - refers to any person who witnesses or has personal knowledge of any actual or perceived acts or incidents of bullying or retaliation as defined by this IRR.

"Article 1. Declaration of Policy. - The Child is one of the most important assets of the nation.

Every effort should be exerted to promote his welfare and enhance his opportunities for a useful and happy life.

e) "Learning center" - refers to learning resources and facilities of a learning program for out-ofschool youth and adults as defined in DepED Order No. 43, s. 2013.

The child is not a mere creature of the State.

Hence, his individual traits and aptitudes should be cultivated to the utmost insofar as they do not conflict with the general welfare.

f) "Service provider" - refers to any person who is not a teacher or school personnel but who works in the school, such as, but not limited to, security guards, canteen personnel, utility workers, and transportation service personnel.

The molding of the character of the child starts at the home. Consequently, every member of the family should strive to make the home a wholesome and harmonious place as its atmosphere and conditions will greatly influence the child's development.

g) "Student" - refers to a person who attends classes in any level of basic education, and includes a pupil or learner as defined in DepED Order No. 40, s. 2012.

Attachment to the home and strong family ties should be encouraged but not to the extent of making the home isolated and exclusive and unconcerned with the interests of the community and the country.

h) "Anti-Bullying Coordinator" - refers to the person/s designated by the ABC responsible for initially handling reported cases on bullying or possible bullying incidents. There shall be an Anti-Bullying Coordinator per grade or year level in each school.

The natural right and duty of parents in the rearing of the child for civic efficiency should receive the aid and support of the government.

Other institutions, like the school, the church, the guild, and the community in general, should assist the home and the State in the endeavor to prepare the child for the responsibilities of adulthood.”

WHEREAS, the Sangguniang Panlungsod of Valenzuela recognizes the role of the youth through the Sangguniang Kabataan in nation-building; WHEREAS, the safety and protection of the wellbeing and moral development of the constituents especially the students are among the City Government’s primordial concerns; WHEREAS, on 5 June 2013, the Congress of the Philippines enacted Republic Act (RA) No. 10627 otherwise known as the "Anti-Bullying Act of 2013;" WHEREAS, RA 10627 directed all elementary and secondary schools to adopt policies to address the existence of bullying in their respective institutions; WHEREAS, the Implementing Rules and Regulations (IRR) of RA 10627 provided that the Child Protection Committee (CPC) established by DepED Order No. 40 Series of 2012 shall be the committee to handle bullying cases in public or private schools; WHEREAS, in furtherance of the statutory mandates enunciated above and in support of the thrust of the National Government as regards Anti-Bullying policies and programs, the City Government of Valenzuela deemed it sound to create a task force and mother council dedicated for such purpose and to formally institutionalize and empower Anti-Bullying Councils in Public and Private Schools/institutions/learning centers in the City thereby adopting and enhancing . the organizational structure and functions of the CPC established by DepED Order No. 40 Series of 2012 and as provided in the IRR ofRA 10627.

NOW THEREFORE, be it ORDAINED as it is hereby ORDAINED by the City Council of Valenzuela in session duly assembled: SECTION 1. TITLE - This ordinance shall be known as “THE TASK FORCE BANTAY BULLY” ordinance.

SECTION 2. SCOPE - This Ordinance shall cover all public and private kindergarten, elementary, secondary schools and learning centers in Valenzuela City.

SECTION 3. DEFINITION OF TERMS. - The following terms shall be defined as: a) “Bullying” refers to any severe, or repeated use by one or more students of a written, verbal or electronic expression, or a physical act or gesture, or any combination thereof, directed at another student that has the effect of actually causing or placing the latter in reasonable fear of physical or emotional harm or damage to his property; creating a hostile environment at school for the other student; infringing on the rights

SECTION 4. CREATION OF "VALENZUELA ANTIBULLYING COUNCIL" (VABC) - The Valenzuela AntiBullying Council is hereby created and shall be a unit under the Office of the Mayor.

SECTION 5. COMPOSITION. - The composition of the Valenzuela Anti-Bullying Council shall be:

Chairperson :

Vice-chairperson :

City Mayor Schools Division Superintendent Department of Education

Members : Representative from the Sangguniang Panlungsod;

Representative from the SK Federation;

Representative from the City

Social Welfare and Development (CSWD);

Representative from the Private School Principals/ Administrators;

Representative from the Private School Teachers;

Representative from the Public School Teachers.

SECTION 6. POWERS, DUTIES AND FUNCTIONS · OF THE VALENZUELA ANTI-BULLYING COUNCIL.

a) Act as the central/mother unit primarily task to monitor and supervise the performance of the functions of Anti-Bullying Councils in all public and private kindergarten, elementary, secondary schools and learning centers in Valenzuela City. b) Formulate strategies, programs, policies and directions to guide and empower Anti-Bullying Councils in Valenzuela City. c) Render support, guidance and assistance (technical or otherwise) to Anti-Bullying Councils and other allied organizations/groups and stakeholders. d) Issue rules and regulations governing the operational procedures of the Anti-Bullying Councils and Task Force Bantay Bully. e) To coordinate with national government agencies, nongovernment civic organizations/groups and stakeholders on matters or issues pertaining to the implementation of RA 10627. f) Perform other powers, functions and duties consistent with the foregoing and in accordance with the tenets and principles laid down in RA 10627, its IRR and other applicable laws and regulations.

Monday, July 1, 2019 A7 B7

SECTION 7. ANTI-BULLYING COUNCILS (ABC) There shall be Anti-Bullying Councils in each public and private kindergarten, elementary and secondary schools and learning centers in Valenzuela City. The organizational structure and composition of the CPC established by DepED Order No. 40 Series of 2012 and as provided in the IRR of RA 10627 is hereby adopted and further enhanced hereunder.

as defined herein may be penalized with revocation of its business permit from the City of Valenzuela.

SECTION B. COMPOSITION - The composition o the Anti-Bullying Council of each school shall be:

(a) First Offense:

P 3,000.00

(b) Second Offense:

P 5,000.00

Chairperson : School Head or Administrator or Principal

(c) Third Offense:

P 10,000.00

Vice-Chairperson:

Guidance Counselor or Teacher or the SK Chairperson of the Barangay where the school is located. The Vice-chairperson shall be designated by the City Mayor.

Members : a) Guidance Counselor (in case the same is not designated as Vice-Chairperson); b) Representative of the Teachers as designated by the Faculty Club; c) Representative of the Parents as designated by the Parents Teachers Association; d) Representative of students, except in kindergarten, as designated by the Supreme Student Council; e) Representative from the Community as designated by the Punong Barangay, preferably a member of the Barangay Council for the Protection of Children (BCPC) or from a recognized Religious Organization.

For private schools, a representative from the Community provided in the preceding number shall be optional; f) A SK Kagawad in the Barangay as designated by the SK Chairperson; g) Representative from the City Social Welfare and Development Office.

SECTION 16. ADMINISTRATIVE PENALTY - For non-compliance or violation of the mandate of this Ordinance, the following administrative penalty may be imposed on erring schools and learning centers.

SECTION 17. IMPLEMENTATION - The Office of the City Mayor is Hereby tasked to implement this Ordinance.

SECTION 18. APPROPRIATION - The City Government shall allocate in its Annual Budget sufficient funds necessary for the implementation of this Ordinance.

SECTION 19. SEPARABILITY - Should any section or provision of this Ordinance be declared as unconstitutional or invalid, other provisions which are not affected thereby, shall continue to be in full force and effect.

SECTION 20. REPEALING CLAUSE. -All executive Orders, Administrative Regulations, City Ordinances, City Resolutions, Barangay Ordinances, and Barangay Resolutions, which are inconsistent with and contradictory to any of the provisions of this Ordinance are also hereby repealed.

SECTION 21. EFFECTIVITY - This Ordinance shall take effect fifteen (15) days after publication.

ENACTED. JUNE 03, 2019.

VALENZUELA CITY, METROPOLITAN MANILA.

HON. KIMBERLY ANN DV. GALANG

HON. ROSALIE ESTEBAN-CAYCO

Councilor

Councilor

Majority Floor Leader

Minority Floor Leader

Anti-Bullying Coordinators : An Anti-Bullying Coordinator per Gradeand Year Level shall be designated or appointed by the ABC. SECTION 9. DUTIES AND FUNCTIONS OF THE ABC – The duties, responsibilities and functions of the CPC established by DepED Order No. 40 Series of 2012 and as provided in the IRR of RA 10627 is also adopted. In addition to those mentioned in the IRR of RA 10627, the ABC shall likewise perform and exercise the following functions: a) Through a resolution, appoint Anti-Bullying Coordinators, form sub-committees, create a Secretariat and designate implementing positions as may be necessary to advance and realize the objectives and functions of the ABC; b) To provide the functions, duties and responsibilities of the foregoing creations or positions; c)

HON. MARLON PAULO C. ALEJANDRINO Councilor Asst. Majority Floor Leader

HON. ANTONIO R. ESPIRITU

HON. CRISSHA M. PINEDA

Councilor

Councilor

HON. JENNIFER PINGREE-ESPLANA

To call upon non-government civic youth organizations/groups such as the Boys Scouts and Girls Scouts of Valenzuela City to render voluntary assistance or aid to the ABC in the performance of the latter's duties and functions;

Councilor

d) To organize, educate and guide the Task Force Bantay Bully in their respective schools;

HON. RICARDO RICARR C. ENRIQUEZ

e) To formulate or adopt such rules and regulations as may be necessary in furtherance and to effectively implement the objectives, functions, and principles in the creation of the ABC.

SECTION 11. PROCEDURE IN HANDLING BULLYING CASES - As a general rule, the procedure provided in the IRR of RA 10627 is hereby adopted. However, the concerned ABC may modify the procedure as may be applicable, justifiable and necessary on a case to case basis.

SECTION 12. CREATION OF TASK FORCE BANTAY BULLY. – The Task Force Bantay Bully is hereby institutionalized. There shall be a Task Force Bantay Bully in each school to be organized and supervised by the ABC. The Task Force is a voluntary association of nongovernment civic support organizations/groups and other student associations or activity/curriculum programs such as but not limited to Boy Scouts Girl Scouts (BSGS) - Valenzuela Chapter, the Citizen Army Training (CAT) Supreme Student Council (SSC), Supreme Student Government (SSG) in Schools and Pag-asa Youth Association of the Philippines (PYAP). The Task Force shall be the primary non-government support arm of the VABC and ABC. For this purpose, the VABC and ABCs shall coordinate and give directions to the Task Force in their respective jurisdictions as to the latter's particular tasks and functions relative to the campaign against Bullying.

SECTION 13. CAPACITY BUILDING AND TRAINING – The City Government of Valenzuela in coordination with the Department of Education shall conduct trainings, seminars and other capacity building activities to equip and develop the knowledge and skills of the various ABC, Anti-Bullying Coordinators, Teachers, Students, allied organizations and civic groups and other stakeholders in reventing, responding and handling bullying cases.

SECTION 14. ADOPTION OF THE PROVISIONS OF RA 10627 AND ITS IRR – Except as otherwise provided in this Ordinance the provisions of RA 1062 7 and its IRR are hereby adopted and incorporated.

SECTION 15. PENAL PROVISIONS – Without prejudice to penalties imposed by any existing law, ordinances, rules or regulations, any violation of the provisions of this Ordinance and related implementing rules and regulations issued by the Office of the Mayor or the VABC committed by schools and learning centers

HON. KRISTIAN ROME T. SY Councilor

HON. RAMON L. ENCARNACION

HON. MARIA CECILIA V. MAYO

Councilor

HON. JOSEPH WILLIAM D. LEE

b) Receive reports of bullying cases; and c) Such other functions and responsibilities as may be designated/ directed by the ABC.

Councilor

Councilor

SECTION 10. DUTIES AND FUNCTIONS OF THE ANTIBULLYING COORDINATOR. - The duties and functions of the Anti-Bullying Coordinator are as follows: a) Conduct initial investigation on possible incidents of bullying;

HON. LAILANIE P. NOLASCO

Councilor

HON. CHIQUI MARIE N. CARREON

Councilor (President, League of Barangays)

Councilor (President, Sangguniang

Kabataan Federation)

ATTESTED:

FLAVIO C. DIAZ

Secretary

CERTIFIED CORRECT:

HON. ROVIN ANDREW M. FELICIANO Councilor Temporary Presiding Officer

HON. LORENA NATIVIDAD-BORJA City Vice Mayor

APPROVED:

HON. REXLON T. GATCHALIAN City Mayor Date Signed: ___________

Green Monday BusinessMirror

A8 Monday, July 1, 2019

www.businessmirror.com.ph • Editor: Lyn Resurreccion

Ifugao’s ‘muyong’, stakeholders’ support key to a clean, healthy river

A

By Jonathan L. Mayuga

@jonlmayuga

s severe water-supply shortage grips Metro Manila with the water level at Angat Dam reaching critical level, the importance of finding and securing new and reliable freshwater sources are highlighted anew.

Maynilad Water Services Inc. and Manila Water Co., the two private water concessionaires of the Metropolitan Waterworks and Sewerage System, are already drawing water from the Laguna de Bay, the country’s largest freshwater lake, to augment the water supply from Angat Dam. Recognizing the threat of water scarcity, Environment Secretary Roy A. Cimatu has called on Metro Manila water consumers to conserve and practice rainwater harvesting for nonessential water uses like washing cars, watering plants and flushing toilets.

Some of the major programs of the Department of Environment and Natural Resources (DENR) aim to provide a lasting solution to the perennial water-supply shortage affecting the National Capital Region every summer, which is compounded currently by the El Niño phenomenon, or the so-called dry spell.

‘Clean water’ programs

The DENR has an Adopt-an-Estero/ River Program, which aims to rehabilitate some of the country’s dirtiest rivers, with the hope of restoring them to their pristine state, at best, or at least, for the ecosystem to continue to support life.

Under the Clean Water Act, the DENR also seeks to declare Water Quality Management Areas all over the country and implement a strict management regime that will ensure the sustainable use of water in identified water bodies, depending on their water quality.

An island archipelago comprising of 7,641 islands and islets, the country is endowed with 18 major river basins, 421 rivers and 79 natural lakes.

Thus, the importance of rivers as a freshwater source cannot be overemphasized. It is the life vein of the planet. Without rivers, the forest, including all wildlife, will not survive. Rivers are important for human survival, as the water it provides are used for irrigation, to grow food and raise livestock.

Protecting and conserving rivers are a global concern. The Sustainable Development Goals No. 6 on Clean Water and Sanitation highlights the need to protect and restore waterrelated ecosystems, such as forests, mountains, wetlands and rivers, if we are to mitigate water scarcity.

for the cleanest rivers to give recognition to individuals and institutions for their efforts to protect and conserve the country’s rivers.

The Lamut River in the Cordillera Administrative Region (CAR) was adjudged as the country’s cleanest river when it bagged the first prize in the Rivers for Life Awards, while the Calbayog and Manaba rivers in Samar and Bohol, respectively, bagged the second and third prize. Environment Secretary Roy A. Cimatu handed the awards.

Ifugao’s ‘muyong’ system

One of the primary rivers in the province of Ifugao, Lamut River’s water comes from watersheds sustained through the muyong system,a traditional knowledge system and practice of the indigenous people of Ifugao.

Various literature has been written about muyong. Moises Butic, then-OIC of the Ifugao Provincial Environment and Natural Resources (Penro), and Robert Nidlo, assistant professor in Silviculture at the Department of Forestry in Ifugao State College of Agriculture and Forestry, said in a paper that muyong “gained international recognition as an ideal forest management strategy that is deeply ingrained in the culture of the Ifugao people.” Silviculture is the process of tending, harvesting and regenerating a forest.

Muyong can also be viewed from different perspectives, either as a forest conservation strategy, a watershed rehabilitation technique, a farming system or an assistant natural regeneration strategy.

Traditional forest management

The paper, titled “Muyong forest of Ifugao: Assisted natural regeneration in traditional forest management,” concluded that indigenous forest management systems, such as the Ifugao’s muyong, could be very good tools in promoting forest development and watershed management, including agriculture.

As an assisted natural regeneration strategy, the muyong system uses agroforestry and multiple cropping, enrichment planting and protection to enhance diversity, efficient silvicultural systems characterized by thinning, cleaning, pruning and salvage cutting of trees to enhance the growth and development of natural stands.

Harvesting of timber crops is highly selective by nature, and seasonal, except in extreme cases where wood is urgently needed, and with whole tree harvesting and good wood utilization practice.

Multiple-use river

A 41.82-kilometer river with nine tributaries, the Lamut River covers the towns of Asipulo, Kiangan and Lamut in Ifugao.

Its water drains to the Magat River Irrigation System on the boundaries of Alfonso Lista in Ifugao and Ramon in Isabela. Lamut River’s water has four primary purposes—irrigation, domestic, industrial and hydroelectric.

The DENR CAR has sustained partnership with various stakeholders for the benefit of the river and communities that share the river.

From March to April, readings from water samples obtained from three water quality monitoring stations along the river revealed that biochemical oxygen demand is consistently 1 milligram per liter, which means it can sustain aquatic life and ecosystem.

In terms of dissolved oxygen, readings reveal above-minimum standard for Class C Freshwater, which is 5 milligram per liter.

Solid-waste management

To ensure that Lamut River is kept clean and healthy, the municipality of Lamut strictly implements the scheduled collection of garbage, especially in the town’s central business districts and surrounding barangays.

On the other hand, Municipal Ordinance 3 requires all households to have their own backyard compost pits, hence, only nonbiodegradable waste are left out for collection and disposal.

Ordinances against littering, throwing and dumping of garbage were also enacted by the municipality.

Also, policies at the municipal and barangay levels, such as disposal of recyclable wastes, were implemented.

The municipality has also signed a memorandum of agreement with a local junk shop in Santiago, Isabela, for proper disposal of recyclable waste.

T he DENR- C AR, meanwhile, collaborated with the government of Lamut for the construction of engineered sanitary landfill with a materials-recovery facility (MRF) for proper waste segregation.

Each barangay in Lamut is also required to have its own MRF and is mandated to strictly monitor and implement various environmental laws, particularly the Clean Water Act and the Ecological Solid Waste Management Act.

Community support, cooperation

Florencio Pacio, the Community Environment and Natural Resources officer for Lamut, attributed the pristine state of the river partly to the time-tested muyong system.

However, he said the cooperation of the communities, was key to the river’s bagging the first-ever Rivers for Life Award.

“Since the Rivers for Life [award] was announced, we sought the cooperation of the communities. Through the LGU, we conducted information,

The Rivers for Life [award] was a big help, and our experience in Lamut encouraged us to enhance our efforts in other areas.”—Pacio

education and communication [campaign], and told them about Lamut River as our entry. The communities were a big help because, after that, regular cleanups were conducted with the help of the communities” he said in mixed Filipino and English.

Pacio said the Lamut model will likely be implemented in rehabilitating other rivers in Ifugao and the rest of CAR. “The Rivers for Life [award] was a big help, and our experience in Lamut encouraged us to enhance our efforts in other areas,” he added.

Every Filipino’s responsibility

Cimatu said the award aims to raise public awareness on the need to protect and conserve the country’s rivers as the lifeblood of the Earth.

“We aim to tap concerted action to protect the country’s rivers from degradation and pollution, and ensure their suitability, sustainability and further improvement,” the DENR chief said during a brief speech.

Cash prizes of P100,000, P75,000 and P50,000 were given to the first, second and third prize winners, respectively.

“Rivers and creeks drain to bigger water bodies and affect their condition.

This is similar with Pasig River, which drains to Manila Bay. Thus, ensuring the cleanliness of rivers is among our top priorities,” he said.

For his part, Environment Undersecretary for Solid Waste Management and Local Government Units concerns Benny D. Antiporda said the Rivers for Life Awards is the DENR’s eye-opener for all Filipinos to bear in mind that the conservation and protection of the country’s rivers are the responsibility of every Filipino.

“After all, the rivers are the lifeblood of the Earth,” Antiporda said.

The award, he said, is also a great opportunity to work with different stakeholders to prevent further pollution and degradation of rivers in our country.

“The key here are collaboration and support toward a common goal: clean and healthy rivers for us and the next generations. The Rivers for Life reminds us that it’s not too late for every Filipino to have access to clean water,” he added.

Rivers for Life: Lamut River

On its 32nd anniversary on June 14, the DENR announced the first Rivers for Life Awards winners.

Launched last year, Rivers, which stands for Recognizing Individuals/ Institutions Towards Vibrant and Enhanced Rivers, is a nationwide search

Courtesy of DENR-Strategic Communication and Initiatives Services

European airports plan for net zero carbon emissions L

IMASSOL, Cyprus—An organization representing airports in 45 European countries said this past week that it plans to get airports to achieve net zero carbon emissions by 2050.

Airport Council International Europe President Michael Kerkloh told a meeting of 300 aviation officials that the strategy’s launch aligns European

airports with the Paris climate accords by putting climate change at the heart of business decisions.

That’s “an absolute must” for all industries, said Kerkloh who is stepping down.

The net zero carbon emissions target applies to all member airports. Kerkloh said 140 airports operated by 40 members have affirmed their commitment to the goal, while three Swedish

airports have already achieved it.

The goal does not include aircraft emissions but those of the airport’s buildings, infrastructure and vehicles. Kerkloh urged aircraft makers to work toward zero emissions, amid growing public demand for action to curb climate change.

But he said that taxing aviation “would do nothing” to eliminate aircraft carbon emissions.

Kerkloh also welcomed action by regulators to avert drone flights that pose risks to aircraft landing and taking off. He called for“clear rules”on the creation of “no-drone zones” around airports and on who would be in charge of monitoring and preventing such flights.

ACI Europe Director General Olivier Jankovec said profitability concerns hang over the industry

despite a 36-percent increase in passenger traffic in the last five years.

Issues such as multibillion-euro (dollar) investments in security screening technologies are putting cost pressures on airports. Airlines are becoming more risk averse in the face of oil-price volatility, trade wars and geopolitical stability, Jankovec said. AP

Big plastic user Japan fights waste ahead of G-20 summit

T

OKYO—Japan has a plastic problem.

In a country where cleanliness and neat packaging have long been considered good service, almost everything, from single bananas to individual pieces of vegetables, pastries, pens and cosmetics is sold plastic-wrapped.

But as world leaders descend on Osaka for the two-day Group of 20 (G-20) summit that started last Friday, Japan attempted to become a leader in environmental policy at the same time it plays catch-up with countries that already have well-defined goals in place.

In the months leading up to the G-20 summit, Japanese officials have delivered full-throated endorsements of future bans on single-use plastics, beach cleanup efforts and more research into alternatives such as bioplastics.

The problem is, the enforcement and timing of the directives have yet to match measures already in place in the EU—including sweeping legislation passed earlier this year that will ban single-use plastic in all member states by 2021.

Just last summer, Japan was criticized for failing to sign the Group of Seven Plastics Charter, the only country to do so besides the United States.

At a mid-June meeting of G-20 environmental ministers in Karuizawa, Japan brokered an agreement to begin sharing best practices and establishing standards for tracking marine plastic waste, but stopped short of setting numerical goals or a timeline for progress.

Japan is the world’s No. 2 consumer of single-use plastic packaging per person—the United States is No. 1—according to a 2018 UN Environment Program report.

G-20 nations produce half the world’s plastic waste, and Japanese Prime Minister Shinzo Abe, who chaired the summit, has made fixing the problem a top initiative, both at the summit and in Japan.

But Japanese promotional efforts, such as crafting next year’s Tokyo Olympic medals and champion podiums from recovered metals and plastics, have failed to impress experts, who say that Japan cannot recycle its way out of a global plastic-waste crisis, and that the country instead needs to focus on reducing plastic at the earlier end of the supply chain.

“What we are asking for is the reduction of plastic produced in the first place,” said Mageswari Sangararalingam, a Malaysianbased waste management expert.

There are signs that Japan is beginning to recognize its own difficulties.

Trade Minister Hiroshige Seko announced at the G-20 environment ministers’ meeting plans for a law that will require retailers to charge fees for plastic shopping bags as early as next April.

Seven & i Holdings Co., the Japanese operator of 7-Eleven convenience stores, announced a plan last month to replace all plastic shopping bags with paper by 2030 and all plastic packaging with paper, biodegradable or other reusable materials at its nearly 21,000 stores nationwide.

Those goals are more ambitious than the government’s 2030 target for a 25-percent reduction in single-use plastic.

Selected 7-Eleven stores near Tokyo, including one at Yokohama, have started offering paper bags instead of plastic.

Saemi Nakamura, a customer, said the change is welcome. “The world is talking about the use of plastic not being good. I think paper bags are better,” Nakamura said.

Another convenience store chain, Ministop, began charging ¥3 (3 cents) per plastic shopping bag in an experiment at two stores in Chiba, near Tokyo, which is to be expanded to about 40 outlets by early 2020.

But plastic shopping bags and packaging are only a small part of the overall plastic waste problem, experts say. As much as 12.7 million tons of plastic waste end up in the ocean each year, of which up to 60,000 tons comes from Japan, according to a study cited by the country’s Environment Ministry.

Japan is also the world’s No. 2 exporter of plastic waste. It used to export about 1.5 million tons per year, mainly to China.

After China stopped accepting plastic imports in 2017, several Southeast Asian nations became new targets, but some countries, including Malaysia and the Philippines, are now turning the shipments back. They accused rich countries of pushing their garbage onto poorer nations.

Officials in Japan have scrambled to find a new home for the country’s used plastic by establishing a ¥1.9 billion ($18 million) emergency fund over the past two years and asking local authorities and waste handlers to shoulder additional loads for recycling and incineration. AP

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, July 1, 2019

Editor: Lyn Resurreccion • www.businessmirror.com.ph

Looking to the land in the climate-change race

As the world’s soils store more carbon than the planet’s atmosphere, the restoration of soil and degraded land is therefore essential in the fight against climate change with a potential to store up to 3 million tons of carbon annually. Pictured here is a 2012 reclamation project of desertified, sandified land on either side of the Sudu desert road in Wengniute County, China.

Manipadma Jena/IPS

U

NITED NATIONS—The international community still has a long way to go to chart a new, sustainable course for humanity. But the upcoming climate-change meetings provide a renewed opportunity to tackle climate-change head on.

Ahead of the United Nations Climate Action Summit in September, governments are gearing up to convene in Abu Dhabi for a preparatory meeting on June 30 and July 1. The meeting is expected to have the highest official international participation since the Paris Agreement in 2015.

“This summit is a unique opportunity to make sure that climate is not perceived as an environmental issue… the summit allows us to bring climate into the overall agenda of development of a country,” said Luis Alfonso de Alba, special envoy of the Secretary-General on the Climate Summit.

“I think that’s the only solution for the climate. As long as we keep climate as an environmental issue, we will never achieve the level of transformation that is needed to deal with the problem and particularly to move to a different way in which we consume and produce as a society,” he added.

During the Abu Dhabu climate meeting, governments will make concrete proposals for initiatives on various climate change -related issues from finance to energy. An agenda, recommendations, and draft resolutions will then be presented and adopted during the September summit.

In recent years, the climate-change debate has been largely focused on energy, particularly the use of fossil fuels.

Most recently, European Union (EU) leaders failed to reach a consensus on how to make the EU carbon neutral by 2050 as coal-reliant countries rejected the proposal. This sparked protests across the continent, including a 40,000-strong rally at a German coal mine.

UN Secretary-General António Guterres also called for an end to new coal plants after 2020, as well as fossilfuel subsidies.

While such moves are essential to reduce greenhouse-gas emissions, sustainable land management is another crucial aspect that is often overlooked.

According to the UN Convention to Combat Desertification (UNCCD), the land-use sector represents almost 25 percent of total global emissions.

As the world’s soils store more carbon than the planet’s atmosphere, the restoration of soil and degraded land is therefore essential in the fight against climate-change with a potential to store up to 3 million tons of carbon annually.

Agroforestry could be an essential tool to address land degradation and help communities to mitigate and adapt to climate-change.

A land management system where trees and shrubs are grown together with crops and pasture, agroforestry has been found to provide numerous benefits, including improved soil and water quality, increased biodiversity, high crop yields and thus incomes, reduced greenhouse-gas emissions, and increased carbon sequestration.

In Niger, agroforestry has helped

restore 5 million hectares of land through the planting of 200 million trees. This has resulted in an additional half a million tons of grain production each year, improving climate-change resilience and food security of an estimated 2.5 million people.

Such sustainable land management is therefore a potential low-hanging fruit for achieving nationally determined contributions (NDCs) under the Paris Agreement.

Already, 40 percent of developing countries propose agroforestry as a measure in their NDCs, including 70 percent of African countries.

However, current commitments for long-term climate action remain insufficient as it covers only one-third of emissions reductions required by 2030.

In fact, Philip Alston, UN special rapporteur on extreme poverty and human rights, said that even if current targets are met, the world is still at risk of a “climate apartheid” where the wealthy are able to pay to escape heat and hunger while the rest is left to suffer.

“Maintaining the current course is a recipe for economic catastrophe,” the UN expert said.

“States have marched past every scientific warning and threshold, and what was once considered catastrophic warming now seems like a best-case scenario. Even today, too many countries are taking short-sighted steps in the wrong direction,” Alston added.

De Alba echoed similar sentiments regarding the uneven commitment to climate action, stating: “If we are dealing and trying to improve the transition of energy, if we are concerned about land degradation and the protection of the forests, if we are all looking into innovation—I think we are all working for climate-change whether we label it that way or not.”

Countries must, therefore, not only scale up their commitments, but also address and close existing gaps.

For instance, the Consultative Group on International Agricultural Research (CGIAR) found that agroforestry is not included in countries’ measurement, reporting and verification (MRV) systems, including the UN Framework Convention on Climatechange’s own systems.

If agroforestry remains excluded from MRV, its contributions to national and international climate objectives will remain invisible.

“If agroforestry trees aren’t counted in MRV systems, then in many ways they don’t count. Only if agroforestry resources are measured, reported and verified will countries gain access to the financial and other support they need to effectively include agroforestry in climate-change adaptation and mitigation,” CGIAR said in a study, recommending the creation of guidelines for agroforestry reporting.

De Alba stressed the need for the international community to act quickly.

“Fighting climate-change is compatible with growth, compatible with the fight against poverty…it is important that we continue the work from Abu Dhabi into the summit to get the best results.” Tharanga Yakupitiyage/IPS

A9

Oceans are the ‘lungs of the Earth’

By Rolando A. Inciong

T

he United Nations ca l ls oceans as the “lungs of the Earth” as they generate most of the oxygen we breathe. Oceans produce oxygen through marine plants, such as phytoplankton, kelp and algal planktons. These plants produce oxygen as a byproduct of photosynthesis.

Containing 97 percent of the world’s water, oceans are home to millions of marine species that provide humans with at least a sixth of the animal protein they eat, as well as ingredients for our medicines.

But benefits from oceans go beyond air, food and water. Oceans cover 70 percent of the world’s surface, and transport heat from the equator to the poles, regulating our climate and weather patterns. They absorb carbon dioxide from the atmosphere and reduce climate-change impacts.

Aside from these life-supporting products and services, oceans provide wondrous recreational areas and limitless inspiration to millions of people. Clearly, oceans play an essential role for life on earth.

Asean oceans: among the world’s richest marine ecosystems

The 10 Asean member-states— Brunei Darussalam, Cambodia, Lao PDR, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam—house a third of the world’s coral reefs, mangrove and seagrass areas.

According to Dr. Theresa Mundita S. Lim, executive director of Asean Centre for Biodiversity (ACB), nine out of 10 Asean countries are endowed with extensive coastlines, and all 10 Asean member-states have a total of 173,000 kilometers of shorelines.

Indonesia and the Philippines are recognized as among those having the most coral reef areas in the world. Indonesia, Malaysia and the Philippines are three of the six countries bordering the Coral Triangle, which is home to 75 percent of the world’s reef-building corals.

Overall, the Asean region hosts a third of the world’s coastal and marine habitats, which include coral reefs, mangroves, estuaries, sandy and rocky beaches, seagrass and seaweed beds, and other soft bottom communities.

These habitats and their resident species provide various forms of ecosystem services, such as breeding, nursing and feeding grounds for marine plants and animals, as well as resources important to livelihoods of coastal communities.

Lim enumerated the regulatory ecosystem services derived from marine and coastal ecosystems: carbon sequestration and storage in mangrove tree trunks and roots, seagrass, seaweeds, and other algae; climate regulation; sediment protection; and shoreline retention to buffer coastal areas from storm surges.

According to the Asean Biodiversity Outlook 2, a publication of the ACB, coastal habitats maintain nutrient cycles and provide media for the exchange of genetic materials.

These habitats provide cultural services in the form of recreation and tourism, education, research and places of worship.

There are various estimates of the monetary value of coastal habitats in the region. Coral reefs generate and may constitute a significant percentage of national economies, where such habitats occur in large scale, and where industries—such as coral reef-related tourism, fisheries, live fish aquarium, and shell craft industries thrive.

Coral reef-related tourism relies on water and habitat quality, the type and quality of services offered, and accessibility factors. The Asean Biodiversity Outlook 2 reported that potential annual economic value of coral reefs in the Asean region arising from fisheries, shoreline protection, tourism, recreation,

Along with its temples, Cambodia has been promoting its coastal resorts. A small island is photographed off Otres Beach in Sihanoukville, Cambodia. Wikimedia Commons

and aesthetic values is estimated at $12.7 billion.

C lea rly, resou rces f rom t he oceans of the Asean region not only provide life-sustaining and economic benefits for some 650 Asean residents but also contribute to global sustainable development.

Behind the richness are the threats

Behind the richness of Asean’s oceans are the threats. The integrity of the world’s oceans, including in the Asean region, is threatened by marine debris and other forms of pollution; overfishing and use of destructive fishing practices; and coral bleaching, as well as other impacts from climate change.

According to the Asean’s Population Reference Bureau, close to 500 million people will be living in or near coastal and marine areas in the Asean region by 2050.

Indonesia and the Philippines were identified by the Reefs at Risk Revisited Report as two countries that have tens of millions of coastal people living within 30 kilometers of reefs.

Considering that the Asean is one of the fastest-growing economies in the world, its nearshore ecosystems have become more vulnerable to habitat change from overexploitation, sedimentation, pollution, coastal development, ineffective governance, and collateral damage from coastal tourism and climate change.

Plastic: Oceans’ enemy No. 1

Human activities present the biggest threat to oceans as more than 80 percent of marine pollution comes from land-based activities and wastes, specifically plastics.

A surge in single-use plastics has led to a global environmental catastrophe. The UN has reported that 13 million tons of plastic leak into the oceans every year, killing 100,000 marine animals annually, among other damages.

While most plastics are expected to remain intact for decades or centuries after use, those that do erode end up as microplastics, consumed by fish and other marine wildlife, quickly making their way into the global food chain.

In a presentation during the celebration of the International Day for Biodiversity held in Bangkok, Thailand, on May 2, Dr. Suchana Chavanich, a faculty member of the Department of Marine Science,

Faculty of Science, Chulalongkorn University, Thailand, said that 39 percent of plastic wastes go to open ocean waters; 33.7 percent settle in coastline and sea floor; 26.8 percent remain in coastal ocean waters; and 0.5 percent float on the waters.

Chavanich reported that a study conducted by the Chulalongkorn University found microplastics in 93 percent of bottled water.

Another threat to marine life is illegal, unreported and unregulated (IUU) fishing.

According to a European Union report, the estimated global value of IUU fishing is around $11 billion to $22 billion per year. Between 11 million tons and 26 million tons of fish are caught illegally a year, accounting for at least 15 percent of the world’s catches. IUU unsustainably affects the world’s fish stocks.

Asean nations unite to protect the oceans

The 10 Asean member-states, supported by the Asean Centre for Biodiversity, recognize that protecting the Asean region’s oceans has a global significance, as benefits go beyond the borders of Southeast Asia.

Thus, they are working together to ensure that the region’s marine and coastal biodiversity and ecosystems are conserved, protected and sustainably used.

During the Special Asean Ministerial Meeting on Marine Debris held on March 5 in Bangkok, Thailand, the ministers responsible for natural resources, environment and marine affairs affirmed the Asean’s commitment to conserve the region’s marine environment and strengthen regional cooperation in addressing marine debris issues.

The ministers expressed their full support to advance partnerships for sustainability, as well as to promote synergy within the framework of Asean partnership, in particular to combat marine debris in the region.

During the 34th Asean Summit held in Bangkok, Thailand, on June 22, the heads of the 10 Asean member-states adopted the Bangkok Declaration on Combating Marine Debris, reiterating the commitment of the 10 Asean member-states in protecting and conserving the region’s rich marine resources.

The Bangkok Declaration called for collaborative actions to prevent and significantly reduce marine debris, particularly from land-based activities; recommended an integrated

Conservation is a shared responsibility. By working together, we can protect our shared oceans. Let us keep in mind that oceans are our life.”

—Lim

land-to-sea approach to prevent and reduce marine debris; and called for the strengthening of national laws and regulations, as well as enhancing regional and international cooperation, including on relevant policy dialogue and information sharing.

The declaration also promoted mainstreaming of biodiversity and ecosystem conservation as it called for coordination among Asean sectoral bodies to effectively address the multidimensiona l and farreaching negative effects, as well as sources of marine debris pollution; and encouraged private-sector engagement and investment in preventing and reducing marine debris, including partnerships between public and private sector through various mechanisms and incentives.

The Bangkok Declaration called for the strengthening of research capacity and application of scientific knowledge to combat marine debris; accelerating advocacy and actions to increase public awareness and participation; and enhancing education for behavioral change toward preventing and reducing marine debris.

Marine debris is a transboundary issue that requires integrated regional cooperation. Without immediate action, marine debris pollution would negatively impact marine biodiversity, environment, health, society and economy. Marine debris threatens the health and cleanliness of oceans and their resources which are key to the sustenance and livelihood of hundreds of millions of people, including Asean residents.

Protecting and conserving oceans: a shared responsibility

Lim said saving our oceans is not the sole turf of governments, marine scientists, conservationists and environmentalists. She recommends the following actions that individuals can take to protect and conserve the world’s rich marine heritage: n Learn about the wealth of diverse and beautiful ocean creatures and habitats, how our daily actions affect them, and how we are all interconnected. n Mind our carbon footprint and reduce energy use. n Buy sustainably sourced seafoods. n Properly dispose wastes, especially hazardous materials. n Use fewer plastics or reusable ones and dispose them properly. n Join coastal cleanup activities. n Plant native species of mangrove trees. n Report illegal activities that are harmful to marine life. n Support organizations working to protect our oceans. n Influence change in our homes, schools and communities.

“Conservation is a shared responsibility. By working together, we can protect our shared oceans. Let us keep in mind that oceans are our life,” Lim said.

A10 Monday, July 1, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Negatives don’t cloud positives

P

OLITICS constantly dominates news headlines and the newscasts, be it local politics or geopolitics. Read the public comments that follow the reporting and there will probably be dozens on the “politics” and few, if any, on economic topics.

But then again, what can we expect when a recent Social Weather Stations survey discovered that Facebook is the daily news source for 20 percent of the Philippine adult population.

Television is still the most-used news source for 60 percent of adult Filipinos. But even here politics—by the broadest definition—is the widest reported topic. Considering that 86 percent of adults read a newspaper only “seldom,” is it any wonder the general population is both economically uninformed and financially illiterate? Newspapers publish more detailed and in-depth economic stories.

Politics is always going to be about the “politicians” everywhere because they are the face of the political scene. And because all politicians have been, are or will become either a “hero” or a “zero” depending on an individual’s opinion, economic conditions are viewed in the same light.

When it comes to economic issues, there are some definite positive and negative factors. For example, high inflation is bad. No doubt about that. But the general public needs to understand what makes prices go higher, and what are the consequences of price increases.

It is also important to have a discussion about possible solutions to the problems that can hinder economic growth in general, and inclusive growth in particular. That takes thoughtful consideration and time. Further, it is easier to look at all the negatives. High power rates, overregulation, overlapping regulatory bodies and other concerns need deep examination.

However, when the focus is on what’s wrong and can be improved, it is easy to miss the positives. Emphasizing and improving on the strengths is just as important as trying to mitigate the weaknesses. It is not true, for example, that people who are blind have better hearing. It is true though that most blind people become more attuned to sounds after losing their sense of sight.

In the past two weeks, there have been two particular Philippine economic stories. Hong Kong and Shanghai Banking Corp. is expanding its team in the country “to serve the increasing wealth needs of our Philippine clients.” Further, HSBC’s foreign clients are looking at the Philippines “as part of their diversification efforts amid continued market uncertainty.”

From a survey of the German-Philippine Chamber of Commerce and Industry, more than 70 percent of German firms operating in the country are positive about their business prospects this year.

How are they able to ignore and overcome the negatives? Because these are at least partially offset by the positives.

Ten years of positive economic growth cannot be ignored or dismissed, including the Bangko Sentral ng Pilipinas policies that allow market forces to freely operate. Likewise, the Philippine peso exchange rate is not manipulated. While unfortunately moving at a snail’s pace, the government is trying to clear away the obstacles that create a mountain of “red tape” for businesses and consumers alike.

The economic conditions are not where we want them to be, yet.

But they are not as bad as the “political” headlines want us to believe.

Plastic woes Atty. Jose Ferdinand M. Rojas II

RISING SUN

T

HESE days, many restaurants that used to offer single-use plastic straws have abandoned the practice. Instead, paper straws have replaced plastic straws, or no straw at all. What I find strange, however, are food establishments that don’t have straws but are still using plastic cups and cup covers. Fact is, alternatives for many items are not readily available, systems are not in place and many businesses are at a loss as to how to go “zero waste.” It seems impossible to many.

During an out-of-town trip, a traveling group decided to stop by the roadside to buy fresh buko to quench their thirst. The vendor said straws were not available but placed the coconut meat and coconut water in disposable cellophane bags. If you

Understanding violent extremism Atty. Lorna Patajo-Kapunan

LEGALLY SPEAKING

Since 2005

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

T. Anthony C. Cabangon

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace Ruben M. Cruz Jr. Angel R. Calso

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–San Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

I

AM privileged to be attending the Annual Meeting of Legal Advisers of the International Committee of the Red Cross/Red Crescent Societies, representing the Philippine Red Cross. Of interest to the more than 100 Legal Advisers representing their respective National Societies is the universal issue of Violent Extremism. I am sharing hereunder a background paper of the International Committee of the Red Cross (ICRC) on the subject.

Lourdes M. Fernandez

Online Editor Social Media Editor

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

would really think about it, what are the alternatives for this purpose?

Probably the easiest option would be the customers’ personal tumblers.

However, if these are not available, there needs to be another way.

It will take some effort on the

part of the business establishments down to the individuals or consumers to come up with new systems and processes, new alternative materials and the resolve to fully commit to this new lifestyle. It is only difficult because we are all used to doing things the way they were always done. But since the experts are predicting that there is not much time left to save our planet, then we all must embrace the difficult task and embrace change.

In supermarkets and department stores, the baggers would always ask customers if they are carrying their own eco bags. If the customer doesn’t have any, he or she can opt to pay for plastic bags. Unlike in some places like Kenya where plastic bags have been totally banned, here these can be obtained for just a couple of bucks.

And so the plastic waste continues to be thrown into the rivers, waterways and oceans, and continues to threaten our planet.

I do believe the government needs

“PVE and CVE stand respectively for Preventing Violent Extremism and Countering Violent Extremism.”

There is no internationally agreed definition of “violent extremism.”

In P/CVE theory it is generally described as the way people come to embrace “radical” views and ideas that can lead to violent action, which may be inspired by or linked to groups and/or individuals described as “terrorists.” The dominant but contested theory of violent extremism focuses on social and political grievances (e.g., poverty, marginalization, lack of professional opportunities, political oppression and perceived injustices) that can be exploited to persuade individuals to support or commit to ideologically motivated violence in order to further political goals.

While counterterrorism generally refers to the coercive measures States use to tackle “terrorism” (e.g., policing and judicial measures, blocking of financing, preventive detention, counterinsurgency campaigns and targeted air strikes), P/CVE is the use of noncoercive means to prevent

or dissuade individuals or groups from adopting “extremist views” that might lead to act of terrorism.

P/CVE is thus intimately related to and part of States’ broader counterterrorism agenda.

Owing to the lack of an agreed definition of violent extremism— and the broad and contested range of push and pull factors that P/CVE initiates aim to address—a variety of concerns have been expressed about the impact of P/CVE programs.

These include the risk of stigmatizing some communities considered as vulnerable to violent extremism based on ethnicity, religion or race; the criminalization of individuals suspected of being “radicalized” in the absence of any unlawful acts; and the suppression of legitimate political opposition groups.

States’ understanding that terrorism must be fought through more than military or security means is not new. Noncoercive and preventive measures to address this phenomenon have been part of counterinsurgency strategies and counterterrorism approaches for decades

(e.g., the famous “winning hearts and minds” approaches).

The concept of P/CVE as it is now understood emerged more than 10 years ago in the post-9/11 context out of concerns to address the root causes of terrorism. However, high-level and global interest in P/CVE has peaked in recent years because of the rise and spread of violent armed groups that claim to follow a particular “jihadist” ideology. Increasing attacks in various countries—including by States’ own citizens in some cases—and the phenomenon of “foreign fighters” have made P/CVE a security priority for States, as illustrated by the United States’s White House Summit on Countering Violent Extremism in February 2015.

In January 2016, the United Nations secretary-general (UNSG) unveiled a Plan of Action to Prevent Violent Extremism and called upon all States to develop national plans on PVE. The plan aims to tackle PVE through a comprehensive, “all-ofUN” approach that requires all UN agencies, funds and programs to contribute to preventing this phenomenon across all three pillars of the UN’s mandate: peace and security, development and human rights.

There are currently no agreements or understanding at the global level on the drivers for violent extremism and the most effective means to address them—a point acknowledged in the UNSG’s plan of action. Some States have even resisted this agenda, preferring a more traditional counterterrorism approach. Nevertheless, due to the current political momentum, many countries are developing and implementing national plans based on their own assessment and understanding.

to have a stronger and very specific regulation on the use of plastics. The responsibilities of corporations have to be established, as well as the rest of the nation’s citizenry. It would be best if there would be a specific plan on how to reduce the production of plastic products, and what practical and accessible alternatives there are.

Additionally, everybody should stop focusing on the plastic straw. I am not sure what percentage of the total plastic waste it represents, but I do know there are many other plastic products we all should be looking at.

It is possible that laws, regulations, and policies could be drafted under the influence of businesses and capitalists. But these same capitalists need to understand that if environmental protection is not prioritized, eventually, it would be very bad for their businesses. And we are not just talking about their corporations but also about their families, loved ones and children.

P/CVE aims to tackle factors that both push and pull individuals to violent extremism. P/CVE strategies are primarily driven by State authorities and include a wide range of activities ultimately aimed at preventing acts of violence or the reoccurrence of such acts. Given the broad range of factors they aim to address, P/CVE approaches share some strategies similar to development, conflict prevention and peace-building efforts, such as: setting up social inclusion programs; promoting a peaceful and tolerant society; engaging in crosscommunity dialogue; and reducing poverty and inequalities.

International organizations and various civil-society actors are being asked to partner with State authorities in designing or implementing P/CVE plans of action, which usually have a “whole-of-society” approach that requires the involvement of all sectors and actors. These may include civil-society organizations, the private sector, UN agencies, peacekeeping operations, development NGOs and humanitarian actors, depending on the environment and the activity.

P/CVE activities may include, among others: n Development programs for education, job creation and inclusion; community engagement activities, especially with young people, aimed at fostering social cohesion, promoting democratic culture and dialogue, and providing economic and livelihood opportunities; and strengthening the capacity of governments to deliver services and security, and to ensure the rule of law and respect for human rights. n De-radicalization programs targeting individuals or groups at risk or already involved See “Kapunan,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

A better way for countries Amor Fides to tax corporations

By The Editors Bloomberg Opinion

F

OR the past century, countries have taxed companies based on their location. But in an increasingly digital world, where assets tend to be more intellectual than physical, this approach makes evasion easy and often fails to levy taxes where business is actually getting done. A technology company that sells its services entirely in one country can, for example, shift profits to a lower-tax country by keeping its valuable patents or algorithms there. According to one estimate, almost 40 percent of multinational profits are shifted to tax havens globally each year.

Economists have long advocated a better way: Tax companies based on where they sell. Avoidance would be much more difficult, because it’s harder to play location games with customers (or metrics associated with customers) than with intangible assets.

Governments would no longer have an incentive to erode their tax bases by luring companies with special preferences.

And tax revenues would go to those countries whose people are actually doing the consuming.

The hard part is moving from one system to the other. The change amounts to a vast redistribution of income, from countries where goods and services are produced—or where productive assets are technically domiciled—to countries where they are sold. Also, major economies must adopt the new approach together and in a coordinated manner, lest companies find themselves grappling with a chaotic world of conflicting regimes and double taxation.

France has demonstrated how not to proceed. The country has moved to impose a tax on large digital companies of 3 percent of their advertising revenues, among other metrics. This would serve only to penalize a specific industry—effectively just American tech giants—while failing to further the larger goal of creating a fair and

efficient international system.

This week in Japan, officials will debate more comprehensive plans that the Organization for Economic Cooperation and Development (OECD) has been considering. The most promising proposal is a sort of hybrid: Instead of moving completely to a new system, it would potentially apply only to a portion of corporate profits. Known as “supernormal returns,” this is the share of profits over and above the typical return in an industry—a concept that countries already use to curb the shifting of income to lower-tax jurisdictions. Governments would then use a common formula, involving data such as marketing spending, to figure out which of them should have the power to tax those excess profits.

Though more complicated than a pure destination-based system, this “distribution-based” plan has advantages. A gradual approach is more likely to gain the buy-in the OECD is seeking from as many as 129 countries, giving them time to better understand how a new regime will affect revenues and what the unintended consequences might be. Its focus on excess profits makes sense, because this is precisely the type of income that efforts to game the current system tend to generate.

The proposal also leaves much taxing power to the home countries that, after all, still provide the legal, technological and physical infrastructure needed to create goods and services. And, unlike another proposal in the mix, it mitigates the complexity by requiring all governments to use a consistent method to allocate the tax.

Granted, there’s still plenty of work to do in thinking through the costs and the effects on investment and business activity. Ultimately, though, the world must move to a better system, and the OECD is offering a step in the right direction. It’s aiming to unveil a final plan next year. The G-20 leaders should do what’s in their power to ensure this crucial effort at international cooperation succeeds.

But, we should never be too concerned about the constant movement in our lives. After all, life is a series of movements and continuous changes.

People come, usually with much excitement, while people go, usually with much sadness. But as soon as people stop trying to control the environment they live in, they open themselves to new opportunities. In the words of Chinese philosopher Lao Tzu, “new beginnings are disguised as painful endings.” We must not forget the temporary character of the good things sent our way, even in the midst of our enjoyment of them.

In the same vein, we should always remember that trials and sufferings

will have their end, as well, having in mind the cliché, “this too shall pass.”

Greek philosopher Epictetus professed that all external events are beyond our control and that we should accept calmly whatever happens. What we only control, as individuals, is our response to these external events. “Amor Fati literally means love of fate. Fatalist people consider all external events, suffering included, as necessary, but most important, inevitable.” While I am a firm believer of my fate as part of His predestined plan for me, I know that I was given the freedom to choose which can change the course of my own history.

Take the case of one friend who resigned from work. During a transition period where processes were reviewed and senior leaders were being evaluated, work conditions got difficult for him and others like him who were associated with the outgoing set of managers. My former colleagues in the Bureau of Immigration felt the same way three years ago. Their loyalty to me as their outgoing leader ends where their loyalty to flag and country begins. Understandably, any new leadership had to insure that those left behind, especially those who wield great responsibility, can be relied upon or trusted to give the same cooperation and support. My friend might have felt eased out.

But in a critical moment where he was given the categorical choice, he

opted to leave the organization. Some might see his resignation from the company as part of fate; others may see it done by choice. A certain kind of courage is required to make lifechanging decisions, such as ending a relationship, relocating houses or leaving a job. Life is indeed a series of movements but as a result of our own choices. These changes affect our schedule, income, lifestyle, environment, and, most of all, relationships as we leave behind the old and create new ones. American author Elbert Hubbard once said, “It does not take much strength to do things, but it requires a great deal of strength to decide what to do.” So I admire my friend, as well as my former Bureau colleagues three years ago who decisively left behind the comforts of a secure job to find new opportunities—by choice and not by fate.

In the Bible, Romans 8:28 tells us, “And we know that in all things God works for the good of those who love Him, who have been called according to His purpose.” So, whenever changes come our way, instead of espousing Amor Fati (love of fate) and embrace any event, good or bad, as part of fate, I suggest we should proclaim Amor Fides (love of faith) and accept the event as part of the choices we make in our lives with His eternal guidance and blessing.

based on perceived “radicalization.” n Training and/or revised responsibilities for police and armed forces. In some parts of the world, national counterterrorism forces or units are requesting specific training on the use of force and legal standards in strategies to reduce “violent extremism.” n Countering “extremist” propaganda and voices on social media and in communities by

promoting “moderate” voices or the voices of victims of acts of terrorism. n Monitoring and intelligence-gathering activities targeting communities considered vulnerable to “extremist” views. Community groups, police, peacekeeping operations and even teachers or health personnel may be involved.

Whatever measures our own government adopts moving forward, what is important in promoting

lasting peace is not merely eliminating violent extremism but addressing our people’s social and political grievances—poverty, marginalization, perceived injustices, inclusive economic reforms and respect for the rule of law. Noncoercive and preventive measures to address violent extremism and terrorism (the “winning hearts and minds” approach) might be the solutions this government needs.

Siegfred Bueno Mison, Esq.

THE PATRIOT

P

EOPLE come and go. Everything is simply a matter of time.

History will take a certain course, though the timing of its inevitability can never be anticipated. No matter how hard we try to keep things as they are, we will sooner or later be confronted with unexpected changes. In my case, for instance, when I left the comfortable confines of the military academy, like it or not, I had to embrace the change in the environment in the boondocks of Samar as I joined the Philippine Army. Since then, I changed jobs, careers, and professions—from the military to legal to the government and now to the corporate world, all in a matter of 32 years.

Others, however, may not “move” as often as I did. My brother, Lt. General Salvador Melchor Mison Jr., retired from the military service after 39 productive years. He nonetheless experienced changes as he led and supervised various units in the Air Force all over the country. My previous boss in Philippine Airlines, Jaime Jimenez Bautista, also retired after 25 fruitful years. Throughout his 13 years as president of the national flag carrier, I am sure he has seen colleagues come and go. Knowing their work ethic, I am sure both Mison and Bautista have left an indelible imprint in their respective spheres of influence.

Kapunan. . .

continued from A10

in “radical” movements or organizations. These are typically carried out in prison environments, and may include scholars engaging in religious and ideological debate with detainees. Special de-radicalization facilities may be built or detainees may be segregated within prisons,

Monday, July 1, 2019 A11

Boeing’s 737 Max software outsourced to $9-an-hour engineers

I

By Peter Robison | Bloomberg Opinion

T remains the mystery at the heart of Boeing Co.’s 737 Max crisis: how a company renowned for meticulous design made seemingly basic software mistakes leading to a pair of deadly crashes. Longtime Boeing engineers say the effort was complicated by a push to outsource work to lower-paid contractors.

The Max software—plagued by issues that could keep the planes grounded months longer after US regulators this week revealed a new flaw—was developed at a time Boeing was laying off experienced engineers and pressing suppliers to cut costs.

Increasingly, the iconic American plane maker and its subcontractors have relied on temporary workers making as little as $9 an hour to develop and test software, often from countries lacking a deep background in aerospace—notably India.

In offices across from Seattle’s Boeing Field, recent college graduates employed by the Indian software developer HCL Technologies Ltd. occupied several rows of desks, said Mark Rabin, a former Boeing software engineer who worked in a flight-test group that supported the Max. The coders from HCL were typically designing to specifications set by Boeing. Still, “it was controversial because it was far less efficient than Boeing engineers just writing the code,” Rabin said. Frequently, he recalled, “it took many rounds going back and forth because the code was not done correctly.”

Boeing’s cultivation of Indian companies appeared to pay other dividends. In recent years, it has won several orders for Indian military and commercial aircraft, such as a $22 billion one in January 2017 to supply SpiceJet Ltd. That order included 100 737-Max eight jets and represented Boeing’s largest order ever from an Indian airline, a coup in a country dominated by Airbus.

Based on résumés posted on social media, HCL engineers helped develop and test the Max’s flight-display software, while employees from another Indian company, Cyient Ltd., handled software for flight-test equipment.

Costly delay

IN one post, an HCL employee summarized his duties with a reference to the now-infamous model, which started flight tests in January 2016: “Provided quick workaround to resolve production issue which resulted in not delaying flight test of 737-Max (delay in each flight test will cost very big amount for Boeing).”

Boeing said the company did not rely on engineers from HCL and Cyient for the Maneuvering Characteristics Augmentation System, which has been linked to the Lion Air crash in October and the Ethiopian Airlines disaster in March. The Chicago-based plane maker also said it didn’t rely on either firm for another software issue disclosed after the crashes: a cockpit warning light that wasn’t working for most buyers.

“Boeing has many decades of experience working with supplier/partners around the world,” a company spokesman said. “Our primary focus is on always ensuring that our products and services are safe, of the highest quality and comply with all applicable regulations.”

In a statement, HCL said it “has a strong and long-standing business relationship with The Boeing Co., and we take pride in the work we do for all our customers. However, HCL does not comment on specific work we do for our customers. HCL is not associated with any ongoing issues with 737 Max.” Recent simulator tests by the Federal Aviation Administration suggest the software issues on Boeing’s bestselling model run deeper. The company’s shares fell this week after the regulator found a further problem with a computer chip that experienced a lag in emergency response when it was overwhelmed with data.

Engineers who worked on the Max, which Boeing began developing eight years ago to match a rival Airbus SE plane, have complained of pressure from managers to limit changes that might introduce extra time or cost.

“Boeing was doing all kinds of things, everything you can imagine, to reduce cost, including moving work from Puget Sound, because we’d become very expensive here,” said Rick Ludtke, a former Boeing flight controls engineer laid off in 2017. “All that’s very understandable if you think of it from a business perspective. Slowly over time it appears that’s eroded the ability for Puget Sound designers to design.”

Rabin, the former software engineer, recalled one manager saying at an all-hands meeting that Boeing didn’t need senior engineers because its products were mature. “I was shocked that in a room full of a couple hundred mostly senior engineers we were being told that we weren’t needed,” said Rabin, who was laid off in 2015.

The typical jetliner has millions of parts—and millions of lines of code— and Boeing has long turned over large portions of the work to suppliers who follow its detailed design blueprints.

Starting with the 787 Dreamliner, launched in 2004, it sought to increase profits by instead providing high-level specifications and then asking suppliers to design more parts themselves.

The thinking was “they’re the experts, you see, and they will take care of all of this stuff for us,” said Frank McCormick, a former Boeing flight-controls software engineer who later worked as a consultant to regulators and manufacturers. “This was just nonsense.”

Sales are another reason to send the work overseas. In exchange for an $11 billion order in 2005 from Air India, Boeing promised to invest $1.7 billion in Indian companies. That was a boon for HCL and other software developers from India, such as Cyient, whose engineers were widely used in computer-services industries but not yet prominent in aerospace.

Rockwell Collins, which makes cockpit electronics, had been among the first aerospace companies to

source significant work in India in 2000, when HCL began testing software there for the Cedar Rapids, Iowa-based company. By 2010, HCL employed more than 400 people at design, development and verification centers for Rockwell Collins in Chennai and Bangalore.

That same year, Boeing opened what it called a “center of excellence” with HCL in Chennai, saying the companies would partner “to create software critical for flight test.” In 2011, Boeing named Cyient, then known as Infotech, to a list of its “suppliers of the year” for design, stress analysis and software engineering on the 787 and the 747-8 at another center in Hyderabad.

The Boeing rival also relies in part on offshore engineers. In addition to supporting sales, the plane makers say global design teams add efficiency as they work around the clock. But outsourcing has long been a sore point for some Boeing engineers, who, in addition to fearing job losses say it has led to communications issues and mistakes.

Moscow mistakes

BOEING has also expanded a design center in Moscow. At a meeting with a chief 787 engineer in 2008, one staffer complained about sending drawings back to a team in Russia 18 times before they understood that the smoke detectors needed to be connected to the electrical system, said Cynthia Cole, a former Boeing engineer who headed the engineers’ union from 2006 to 2010.

“Engineering started becoming a commodity,” said Vance Hilderman, who cofounded a company called TekSci that supplied aerospace contract engineers and began losing work to overseas competitors in the early 2000s.

US-based avionics companies in particular moved aggressively, shifting more than 30 percent of their software engineering offshore versus 10 percent for European-based firms in recent years, said Hilderman, an avionics safety consultant with three decades of experience whose recent clients include most of the major

Boeing suppliers.

With a strong dollar, a big part of the attraction was price. Engineers in India made around $5 an hour; it’s now $9 or $10, compared with $35 to $40 for those in the US on an H1B visa, he said. But he’d tell clients the cheaper hourly wage equated to more like $80 because of the need for supervision, and he said his firm won back some business to fix mistakes.

HCL, once known as Hindustan Computers, was founded in 1976 by billionaire Shiv Nadar and now has more than $8.6 billion in annual sales. With 18,000 employees in the US and 15,000 in Europe, HCL is a global company and has deep expertise in computing, said Sukamal Banerjee, a vice president. It has won business from Boeing on that basis, not on price, he said: “We came from a strong R&D background.”

Still, for the 787, HCL gave Boeing a remarkable price—free, according to Sam Swaro, an associate vice president who pitched HCL’s services at a San Diego conference sponsored by Avionics International magazine in June. He said the company took no up-front payments on the 787 and only started collecting payments based on sales years later, an “innovative business model” he offered to extend to others in the industry.

The 787 entered service three years late and billions of dollars over budget in 2011, in part because of confusion introduced by the outsourcing strategy. Under Dennis Muilenburg, a longtime Boeing engineer who became chief executive in 2015, the company has said that it planned to bring more work back in-house for its newest planes.

Engineer backwater

THE Max became Boeing’s top seller soon after it was offered in 2011.

But for ambitious engineers, it was something of a “backwater,” said Peter Lemme, who designed the 767’s automated flight controls and is now a consultant. The Max was an update of a 50-year-old design, and the changes needed to be limited enough that Boeing could produce the new

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

planes like cookie cutters, with few changes for either the assembly line or airlines. “As an engineer that’s not the greatest job,” he said.

Rockwell Collins, now a unit of United Technologies Corp., won the Max contract for cockpit displays, and it has relied in part on HCL engineers in India, Iowa and the Seattle area. A United Technologies spokesman didn’t respond to a request for comment.

Contract engineers from Cyient helped test flight test equipment.

Charles LoveJoy, a former flight-test instrumentation design engineer at the company, said engineers in the US would review drawings done overnight in India every morning at 7:30 a.m.

“We did have our challenges with the India team,” he said. “They met the requirements, per se, but you could do it better.”

Multiple investigations—including a Justice Department criminal probe—are trying to unravel how and when critical decisions were made about the Max’s software. During the crashes of Lion Air and Ethiopian Airlines planes that killed 346 people, investigators suspect, the MCAS system pushed the planes into uncontrollable dives because of bad data from a single sensor.

That design violated basic principles of redundancy for generations of Boeing engineers, and the company apparently never tested to see how the software would respond, Lemme said.

“It was a stunning fail,” he said. “A lot of people should have thought of this problem—not one person—and asked about it.”

Boeing also has disclosed that it learned soon after Max deliveries began in 2017 that a warning light that might have alerted crews to the issue with the sensor wasn’t installed correctly in the flight-display software. A Boeing statement in May, explaining why the company didn’t inform regulators at the time, said engineers had determined it wasn’t a safety issue.

“Senior company leadership,” the statement added, “was not involved in the review.”

2nd Front Page BusinessMirror

A12 Monday, July 1, 2019

DOTr uses Clark ‘template’ for unsolicited proposals

T

By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Transportation (DOTr) has adopted a new policy on unsolicited proposals for airport development that standardizes the specifications and terms of the deals to hasten the approval of the offers.

Transportation Secretary Arthur P. Tugade said unsolicited offers for airport development will all be patterned after the deal for the operations and maintenance of the Clark International Airport.

“We have to align all unsolicited airport proposals to Clark to reduce discussions. This includes contract provisions, language and assumptions. The difference will be in the financial numbers because of varying airport sizes,” he said in an

interview.

The deal for Clark was awarded to North Luzon Airport Consortium, a group that is led by the Gokongwei and Gotianun families.

It is supported by the Singapore Changi Airport International.

Tugade did not go into details but said that the standardization of contracts—including provisions for material adverse government action—will be beneficial to the government.

“Our position is that it is good for the government because everything becomes constant. Deals should be the same so that we will not be vulnerable.”

—Tugade

“Our position is that it is good for the government because everything becomes constant. Deals should be the same so that we will not be vulnerable,” he said. “We are implementing this because we know that there is no bad faith. We are trying to be very accommodating and understanding of the issues that they raise.”

He said that this new policy will cover all existing unsolicited proposal for airport development, and some groups have already agreed to this new rule.

There are quite a number of unsolicited airport proposals that

the government has received from the private sector. These include the development of the Ninoy Aquino International Airport, the construction of the Bulacan International Airport, the modernization of the Laguindingan Airport, and the operations and maintenance of the Panglao International Airport, among others.

“I hope with this policy we will be able to fast-track the approval of unsolicited proposals for airport development,” Tugade said.

Dizon: Studying all proposals

RECENTLY, the chief of the Bases Conversion and Development Authority (BCDA) allayed fears the government is getting disorganized with the pile of airport projects it has in the pipeline.

At the annual meeting of the Makati Business Club, BCDA President and CEO Vivencio B. Dizon said the government is taking it Continued on A2

‘Duterte can’t be impeached on just his words’

A

N i m p e a c h m e nt c a s e against President Duterte, anchored only on his off-the-cuff pronounce-

ment that he allowed China to fish in the Philippines’s exclusive economic zone (EEZ), could be thrown out as premature, Sen.

TROPICAL DEPRESSION “EGAY” ESTIMATED AT 810 KM EAST OF DAET OF CAMARINES NORTE SOUTHWEST MONSOON AFFECTING LUZON AND VISAYAS as of 4:00 am - June 30, 2019

Panfilo Lacson said over the weekend.

Lacson, who is empowered to sit as judge along with 23 other

senators in case the Senate convenes as an impeachment court, noted that a formal complaint to oust the President, if one is filed against Duterte, must be based on his actions—in this case, an actual order allowing China to fish in the EEZ. The senator shared this view in a radio inter view when asked to assess the West Philippine Sea situation, in the wake of heightened tension af fecting the livelihood of Filipino fishermen, after a Chinese vessel hit a Filipino fishing boat at Recto Bank—inside the Philippines’s EEZ—then f led the scene, abandoning 22 Filipino fishermen as their boat sank, until they were resc ued by Viet na mese fisher men.

While Duterte readily waded into the struggle against illegal drugs and corruption soon after assuming the presidency, Lacson observed that the Chief Executive “did not anticipate a third struggle for nationalism,” referring to his duty to assert and defend national interests threatened by Chinese encroachment.

“First of all, when the President assumed his post, he immediately waged two battles—against illegal drugs and against corruption.

That’s fine, but he did not anticipate there is a third equally vital battle, the fight for nationalism,” Lacson said in a mix of English and Filipino.

L acson su r m ised t hat t he Duterte administration officials may have failed to foresee that they may need to wage a legal battle to assert sovereign rights over maritime territory.

T here shou ld have been “foresight,” he added, since the Philippines won a favorable “arbitral ruling and there are issues in the West Philippine Sea. For which the administration must prepare.”

The West Philippine Sea issue is a “no-brainer because what we are talking of here is nationalism, this involves national interest.

Filipinos against whatever country when national interest is at stake,” Lacson stressed, even as he hastened to clarify that he is not talking of war.

“I’m not talking of fighting as in war. I mean a fighting stance in thought, in action, and in words.

What happened in the WPS offers us only one choice: PH. We are the Philippine team.” Butch Fernandez

www.businessmirror.com.ph

18TH CONGRESS FOCUSES ON MEASURES LISTED IN THE PHL DEVT PLAN

By Jovee Marie N. dela Cruz

M

@joveemarie

EMBERS of the 18th Congress have committed to pass the measures listed in the Philippine Development Plan (PDP) in the last three years of the Duterte administration.

Leyte Rep. Martin Romualdez, in a statement, said he had a meeting with Finance Secretary Carlos Dominguez III to discuss the PDP measures and economic team’s other priority bills for the 18th Congress.

According to Romualdez, only seven out of the 21 bills that are included in the PDP have been approved by the 17th Congress.

“Almost all were approved by the House of Representatives before the legislative break, but these bills were stalled in the Senate,” he added.

He said topping the priority list of the 18th Congress were the 2020 national budget, as well as funding requirements for the President’s infrastructure projects, including the “Build, Build, Build” Program.

Also included were measures containing amendments to the Foreign Investments Act, Pub-

lic Service Act and Bank Secrecy Law, as well as the Security of Tenure Bill, Budget Reform Act, National Land Use Act, the Rightsizing of the National Government, Trabaho bill or TRAIN 2, and taxes on Mining, Alcohol and Tobacco.

Romualdez said these economic bills were also among the measures included in the priority list agreed upon by the multiparty caucus of House leaders last week.

The caucus drew the attendance of 40 House leaders from various political parties including the PDP-Laban, Lakas-CMD, Nationalist People’s Coalition, Nacionalista Party, Liberal Party and the Party-List Coalition.

The new PDP is the first medium-term development plan to be aligned with a long-term vision—contained in AmBisyon Natin 2040—of attaining inclusive economic growth in the country and eventually transforming the Philippines into a knowledge economy through increased innovation.

The PDP has 21 chapters containing strategies for laying down the foundation for inclusive growth, a high trust society and a globally competitive economy.

DOLE chief hopes SOT won’t suffer Palace veto

T

HE Department of Labor and Employment (DOLE) confirmed on Saturday the much-awaited Security of Tenure (SOT) bill is now with Malacañang.

“It was submitted to the Office of the President yesterday [June 28],” Labor Secretary Silvestre H. Bello III told reporters at the sidelines of the DOLE celebration of the World Day Against Child Labor 2019.

Bello said he will directly endorse the bill to President Duterte for signing.

“On Monday, I will be submitting the position to the Department [to Duterte],” Bello said.

With the bill now enrolled to Malacañang, the bill could soon

Palawan gov. . .

Continued from A1

He said that poverty incidence has been reduced by 4 percentage points to 56 percent since he assumed office with his Partido ng Pagbabago, but this is not enough to make a dent on the poverty level in the province.

But with the tourism target of 5 million that could come about from the building of tourism infrastructure like the regional airports in Coron, Balabac, San Vicente and Taytay municipalities, the target could be reached and spell economic growth that would employ people from the province.

He vowed to surpass the number of tourists in Cebu (7.5 million) and increase the per-capita income of the province to approximate that of Malaysia’s 27,000 ringgit (about P250,000). He said this could be achieved especially with the programmed Roro projects where he said tourists can go by land from Mindoro and Batangas.

“I can welcome senior citizens from Palawan who can use the Roro

be signed into law or be vetoed by Duterte.

It could also lapse into law if Duterte will not act on it within the 30 days after it was enrolled to Malacañang.

Bello said while the bill will impose new restrictions for the practice of the contractualization, it will still allow legal forms of such contractual arrangements.

He said it will also retain other nonregular forms of contractualization like probationary, seasonal and project-based arrangements.

DOLE is hopeful—though it concedes that’s a possibility—there won’t be a presidential veto of the bill because it is part of Duterte’s priority legislation.

Samuel P. Medenilla

and treat them to coffee in Makati,” he said, with the planned infra buildup in the province.

“Lahat tayo damay damay [We’re all in this together],” he said as he pitched for the establishment of the three provinces in the province: Palawan del Norte, Palawan Oriental and Palawan Del Sur, which would be the mother province as envisioned under RA 11259, which President Duterte signed on April 5, 2019.

A plebiscite is scheduled in May 2020 for the ratification of the planned three provinces.

Alvarez said the three provinces can earn an IRA of P60 billion that could be used in reducing poverty incidence in Palawan. He said that the target poverty reduction to 26 percent is achievable since tourists have now reached 2.5 million, up from a measly 300,000 tourists when he began his term.

Also, he said that there has been a considerable growth in the province from negative 1.6 percent earlier in his term,t which began in 2013. “As you can see, the party has changed the face of Palawan,” he said, and vowed that the economy would further grow.

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, July 1, 2019

B1

Century Properties spending ₧30B for 3-year expansion

C

By VG Cabuag

@villygc

ENTURY Properties Group (CPG) will be spending P30 billion in the next three years to expand its various enterprises, as it embarks on a new line of in-city residential developments.

CPG President and Chief Executive Officer Jose Marco Antonio said the company aims to equally grow its three business segments—the new line of Urban Villages, its recurring income portfolio of leasing assets, and horizontal affordable housing, while it also focused on its leisure and tourism business.

“We plan to launch four [affordable mid-rise homes] within the next 12 months intially. We are looking at Mandaluyong, Quezon City and Pampanga,” he told reporters after the company’s stockholders’ meeting on Friday.

Antonio said target markets for in-city residential developments include young people in the work force, young professionals, young families and people prioritizing convenience.

“Because of the current state of our traffic and travel times have been increasing to and from places of work and residence, we feel that there is a sweet spot for affordable homes in key city centers and its peripheries,” he added.

Antonio further said the firm is also ramping up its commercial leasing portfolio with a goal of P2 billion leasing revenues by 2020.

Megaworld expects P4-B sales from new McKinley Hill condo

P

ROPERTY developer Megaworld Corp. expects revenues of about P4 billion with the launch of its St. Mark Residences, a 23-story residential tower in McKinley Hill in Taguig.

The said development, expected to be completed in 2021, has a direct connection to the Venice Grand Canal Mall. It offers 235 units ranging from studio of up to 41 square meters, one bedroom of up to 66 square meters, two bedroom of up to 163 square meters and three bedroom of up to 120 square meters. All unit sizes have their own balconies.

St. Mark Residences offers amenities at its third-level podium, which includes a clubhouse pavilion, swimming pool, children’s playground, fitness station, mini-theater, function halls, library, gym with sauna, massage area, badminton courts and a tennis court. It also has its landscaped gardens that include a meditation garden, sculpture garden and a rock garden.

“St. Mark Residences will be among the last residential properties in McKinley Hill, and is conveniently located beside the iconic Venice Grand Canal Mall. Living in McKinley Hill allows walkable access to the mall and close proximity to and from C-5 and the South Luzon Expressway, as well as the Makati CBD via McKinley Road,” said Noli D. Hernandez, the company’s senior vice president.

McKinley Hill is a 50-hectare township development within in the former Fort Bonifacio. At present, it is home to McKinley Hill Village, several residential towers, office towers, schools, foreign embassies and the McKinley Hill Football Stadium.

Around 100,000 workers, mostly from the IT and BPO sectors, are employed in the various towers inside McKinley Hill, while around 15,000 residents live in the township. VG Cabuag

He attributed the growth to the rising office market, driven by the information technologybusiness-process outsourcing (IT-BPO) sector, and the continued economic growth.

“Add to these is the continued trend of coworking, as well as all the infrastructure projects and Peza’s [Philippine Economic Zone Authority] move to basically create national inclusivity by creating economic zones outside of Metro Manila. I think the office sector will continue to grow at healthy rates,” he said.

Meanwhile, Antonio said the first two phases of its affordable housing brand, PHirst Park Homes, in Tanza, Cavite, are almost sold out, and its third phase is being offered.

“Tanza [project] sold well and actually that performance has been mirrored in the two succeeding projects basically Lipa and San Pablo [in Laguna],” he added.

In a related development, former US Ambassador Jose Eduardo B. Antonio has relinquished his president and CEO positions at Century Properties Group Inc. to his son Jose Marco, who will now be in charge of steering the company that has refocused its attention on horizontal develop-

ment rather than selling condominium units and office spaces.

Jose Eduardo, who held the post for 33 years since the founding of CPG and seven years since it became publicly listed, will remain as the company’s executive chairman.

Marco’s brothers John Victor, Jose Roberto and Jose Carlo will retain their respective posts as members of CPG’s board of directors.

The appointment took effect immediately after the CPG board approval in June. “This new role of Marco in the company affirms the board’s trust and confidence in his leadership, given his more than two decades of professional experience and wide exposure in the company’s operations handling different aspects of the business,” the company’s chairman said.

The company is refocusing its efforts on selling horizontal projects located in the outskirts of the city and leasing its current assets after it has been running out of condominium units to sell in Metro Manila.

CPG said it is allocating some P30 billion in capital expenditures in the next three years, focusing on what it called in-city residences and horizontal affordable housing, in partnership with Japan’s Mitsubishi Corp.

All these projects cover 250.6 hectares of land bank that CPG is building to further expand its footprint in-city, in strategic tourism destinations and provincial growth centers within Luzon.

“Our strong balance sheet supports our growth strategy. Our ultimate goal is to grow CPG’s businesses and achieve a revenue mix of one-third each from our three main segments of recur-

ring income portfolio, horizontal affordable housing through PHirst Park Homes, and Urban Villages—to have a diversified net income mix with more sustainable cash flow and recurring income,” the company said.

The former US ambassador established Century Properties Inc. in 1986, six days before the historic Edsa Revolution, with only six employees. Three years later, he put up the country’s first independent real estate and property management company, Century Properties Management Inc., and went on to develop upscale condominiums in the CBDs starting 1991.

Since CPG became a publicly listed firm in 2012, it has sold 91 percent of over 20,000 units launched and completed 26 buildings with more than 14,000 units and 1.3 million square meters of gross floor area.

Marco Antonio, meanwhile, started working for Century in 1996 after working at The Blackstone Group in New York City. He graduated summa cum laude with a Bachelor’s Degree in Economics (dual major in Finance and Entrepreneurial Management) from the University of Pennsylvania’s Wharton School in 1995 and received his masters degree in Business Administration with a major in Strategic Management from the Wharton School in 2004.

He served as managing director for the company for 22 years and held this position concurrently when he was appointed as COO and the company aimed to really transform itself from a single asset class residential condo developer to one that is going to be supported by businesses that have strong fundamental and exciting prospects,” he said. With a report from PNA

SEC approves IPO of more ACE members as Axelum wants shares to go public

T

HE Securities and Exchange Commission (SEC) has given three more members of the Allied Care Experts (ACE) Medical Group the green light to raise as much as P1 billion each in separate initial public offerings, while Axelum Resources Corp. has filed a P7.7billion IPO with the regulator.

At the moment, there is no listing yet at the Philippine Stock Exchange halfway into the year.

In its meeting last week, the SEC ‘s en banc approved the registration statements of ACE Medical Center Gensan Inc. for 228,000 shares; ACE Dumaguete Doctors Inc. for 186,000 shares; and ACE Medical Center Bohol Inc. for 180,000 shares.

The registration statements cover common shares for initial public offering, as well as issued and outstanding founder’s shares and issued and outstanding common shares with par value of P1,000 apiece.

ACE Gensan will offer 36,000 common shares, in blocks of 10 shares, with prices ranging from P200,000 to P400,000, expecting to net P987,930,895 from the maiden offering.

It will use the proceeds for construction, medical equip-

ment, architect and other professional fees, pre-operating expenses and working capital, debt servicing, furnishing and marketing.

ACE Dumaguete will also offer the same number of shares at a price range of P250,000 to P400,000.

The corporation expects to raise less than P1 billion in net proceeds to be used for loan payment, preoperating expenses, hospital equipment and fixtures, construction and land improvements.

ACE Bohol, meanwhile, will offer 30,000 common shares to the public, also proceeds of about P1 billion, which will be used for loan payment, medical equipment, additional working capital, construction, architect and professional fees, land improvement and furnishing.Subscribing to the offer shares is a prerequisite for physicians and medical specialists to practice at the three hospitals.

Last week the SEC approved the maiden offering of ACE Medical Center-Iloilo, ACE Malolos Doctors and ACE Medical Center-Butuan.

Meanwhile, Axelum is expecting to raise some P7.7 billion at a price of up to P6.81 per share for its IPO.

Axelum is a fully integrated manufacturer of high-quality coconut products including coconut water, desiccated coconut, coconut milk powder, coconut milk/cream, reduced fat coconut, sweetened coconut, coconut oil, and other coconut products for domestic and international use and distribution.

“The final offer price shall be determined prior to the scheduled listing of the IPO hopefully in October of this year. We intend to sell up to 700 million primary shares and up to 430 million secondary shares,” Axelum Chairman Romeo Chan said.

First Metro Investment Corp. has been appointed as issue manager, bookrunner and lead underwriter of the IPO. Proceeds from the primary offer will be used to fund its strategic acquisitions, expand its domestic and international distribution networks, install new manufacturing facilities for new products, and improve and expand the company’s existing manufacturing facilities. A portion of the proceeds will also be utilized to retire our loans, reduce payables, and for other capital expenditure requirements, the company said. VG Cabuag

Jollibee Foods to tap debt market for ₧17.2-B capex

F

AST-FOOD giant Jollibee Foods Corp. (JFC) said it will borrow a portion of its P17.2 billion in capital expenditures this year.

Ysmael V. Baysa, the company’s chief finance officer, said most of the time its capex came from internally generated funds and only this year will it tap the debt market to augment its needs.

“We are using loans. We do not want to make it complicated. About 70 percent will come from internal funds and 30 percent from outside financing,” Baysa said.

This year’s capex is higher compared with the previous year’s capex of about P12 billion.

The capex for 2019 will be used to fund the opening of about 500 stores worldwide, renovation of 90 stores, the building of two commissaries in the Philippines, and investments in information technology for the stores and support groups mainly in the Philippines and the US, the company said.

Baysa said half of the store openings will be in the Philippines and the other half elsewhere around the world, where it wants its growth to come from across different brands.

In April, Zenith Foods Corp., a wholly owned unit of the company, started the operations of its new commissary in Canlubang, Laguna, that will supply the products of Red Ribbon stores in several parts of Luzon Island. The company also opened its first Jollibee store in Guam in April, and then its first flagship Jollibee store in Spain (Madrid), its first Tim Ho Wan franchise store in Shanghai and its first Panda Express franchise store in Manila this year.

The company said it wants to become the fifth- largest quick-service restaurant in the world in five years starting in 2018, but officials admitted it needs more work to achieve such target.

“The system-wide sales will in-

crease from the present 20 percent to 30 percent. We will eventually achieve our goal of 50/50 revenue split between the Philippines and foreign businesses even as our Philippine business continues to expand strongly since our foreign business is growing even faster,” Jollibee Chairman Tony Tan Caktiong said. ” In a related development, homegrown fast-food giant JFC is expanding its footprint in Vietnam as it plans to put up 20 to 30 new stores a year.

“We look at the population of Vietnam which is close to 95 million, about the same in the Philippines and still fast-growing market so there is a lot of opportunities,” JFC Chief Executive Officer Ernesto Tanmantiong told reporters after the company’s stockholders’ meeting on Friday.

JFC Chairman Tony Tan Caktiong is optimistic that Vietnam can replicate the Philippine market.

As of March 31, 2019, JFC was operating 421 restaurants outlets in Vietnam, including Jollibee brand—117; Highlands Coffee— 284; PHO24—18; and Hard Rock Cafe—two.

It was operating 3,141 restaurants outlets in the Philippines.

Meanwhile, Tan Caktiong said the company is studying a plan of bringing its joint venture behind the Highlands Coffee brand to Vietnam’s stock market.

“We are looking into that We’re reviewing that timetable. we’re looking at the entire business,” he added.

“The business by the way is doing very well. It’s one of our fastestgrowing businesses and one of the most profitable in terms of margin and one of the highest returns on investments.”

In 2019, JFC is looking to open about 500 stores worldwide, half of which is located in the Philippines and the remaining stores in markets abroad. PNA/ VG Cabuag

ERC OKs NGCP’s ₧9.7-B Taguig EHV substation project in Luzon

T

HE Energy Regulatory Commission (ERC) issued the green light for the National Grid Corp. of the Philippines (NGCP) to undertake the P9.7-billion Taguig Extra High-Voltage (EHV) Substation project.

The substation project, which will be implemented this year, will serve as another drawdown substation to decongest the San Jose EHV Substation, and provide higher level of reliability to the Luzon Grid system.

“The approval of the NGCP’s EHV substation project will address the growing power demand and power import in Metro Manila. Additional capacities that will be injected into the transmission network by new power generators will soon be accommodated through this project, which will mean a sustainable and reliable supply of power,” ERC Chairman and CEO Agnes VST Devanadera said.

Apart from the decongestion of the San Jose EHV Substation, the Taguig EHV Substation will also ease the existing 230-kilovolt single-circuit line from Quezon to Muntinlupa during emergency situations, such as grid failure, and address

the severe under voltage in the 230-kV substations within Metro Manila due to the single-circuit configuration and heavy loading condition of the Quezon-Doña Imelda-Paco-Muntinlupa 230-kV transmission line.

In addition, the Taguig EHV Substation will complement the plan of linking the new drawdown substation to Taytay 230-kV substation, as the project will make an additional 230-kV transmission line link to the said Taytay Substation.

ERC’s approval of the Taguig EHV Substation is anchored on the condition that the project is subject to optimization based on its actual use and/or implementation during the reset process for the next regulatory period, as stated in the Rules for Setting the Transmission Wheeling Rates and other relevant issuances of the ERC. Optimization entails the removal of redundant assets and overcapacity, including inefficient design and engineering within the existing network. NGCP is also required to conduct competitive bidding in the implementation of the proposed projects. Lenie Lectura

B2

Companies BusinessMirror

Monday, July 1, 2019

PSE STOCK QUOTATIONS

June 28, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

58.35 139.5 78.4 27.4 11.62 71.25 13.2 20.5 49.25 57.85 112 28 168.3 61.25 1.18 2.33 18.7 4.91 1.33 0.49 0.97 186.6 1750 1.12

58.4 140 78.5 27.45 11.66 72 13.26 21.95 49.65 58.05 115 28.1 170 61.6 1.19 2.41 18.72 4.99 1.39 0.5 0.98 190 1800 1.21

57.5 141.5 79 27.5 11.6 72 13.24 20.6 50 58 115 28.4 171.9 61.25 1.15 2.42 18.7 5.12 1.36 0.49 1 190 1755 1.12

58.4 141.5 79.4 27.75 11.68 72.75 13.28 21.4 50 58 115 28.4 171.9 62.25 1.19 2.42 18.7 5.3 1.36 0.51 1.04 190 1755 1.12

57.5 138.9 77.4 27.45 11.6 71.25 13.2 20.5 49.05 58 115 28.1 168 61.25 1.15 2.32 18.7 4.91 1.35 0.49 0.96 185.9 1750 1.12

58.4 140 78.5 27.45 11.62 71.25 13.26 21.4 49.25 58 115 28.1 170 61.25 1.19 2.41 18.7 4.99 1.35 0.5 0.97 190 1750 1.12

3060 9138120 2659130 30900 3190100 2089620 146900 4000 149700 660 150 32400 492910 329730 76000 277000 37900 1154100 65000 235000 1527000 1060 155 5000

177975 1277018499 208166558 849685 37190040 150344112 1940584 82460 7383540 38280 17250 910535 83307405 20210388 87800 644510 708730 5897305 87900 118340 1529420 200900 271645 5600

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE BOGO MEDELLIN CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.35 34.8 0.265 26.8 83 383 25 5.82 4.53 2.54 12.1 38.7 6.49 14.4 104 16.8 15.02 6.02 10.46 7.63 106 0.84 63.35 281.8 9.05 13.8 0.186 1.81 13.9 1.37 4.9 1.91 166 1.28 2.54 132 149.8 2.91 5.05 15.6 10.9 13.68 19.02 9.06 1.19 1.52 2.02 42 2.52 10.04 1.69 5.6 1.2 19.24

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

1.04 13.72 894 54.1 15.38 3.8 6.71 0.72 1.36 1.37 6.88 10.26 13.9 3.9 0.234 935 6.26 66 6.02 3.8 0.49 4.05 15.18 0.66 4.79 0.041 1.36 1.35 428.2 969 175.2 0.85 2.4 264.6 0.232 0.325

1.39 35.2 0.275 26.85 83.15 387 25.05 5.86 4.54 2.55 12.18 38.75 6.55 14.5 108 17.2 15.06 6.03 10.5 7.64 107.7 0.85 63.5 282 9.25 13.82 0.197 1.82 14 1.38 4.99 2 167.6 1.29 2.68 133.3 150 2.92 5.3 15.84 10.92 13.7 19.04 9.3 1.2 1.53 2.09 44.85 2.53 10.06 1.7 5.89 1.22 19.28

1.37 35.2 0.265 27.05 83 386 25 5.89 4.66 2.68 12.18 38.5 6.56 14.42 94.5 16.76 15.04 6.05 10.48 7.68 109 0.8 63.5 284.2 9.44 14.1 0.186 1.73 14.04 1.39 4.9 1.9 172.5 1.26 2.62 87.2 97 2.99 5.05 15.5 11 13.5 19 9.3 1.23 1.5 2.1 42 2.56 10.18 1.68 5.89 1.27 20.1

1.39 35.5 0.275 27.05 84 387 25.15 5.94 4.78 2.68 12.2 39.05 6.56 14.5 115 18.7 15.22 6.06 10.52 7.69 109.2 0.85 63.9 284.2 9.44 14.1 0.186 1.82 14.04 1.39 4.9 2 174 1.28 2.7 133.3 150 3 5.3 15.88 11.06 13.7 19.48 9.3 1.25 1.55 2.11 42 2.6 10.2 1.73 5.89 1.28 21.2

1.35 34.8 0.265 26.7 82.8 382.2 24.6 5.82 4.54 2.49 12 38.5 6.47 14.4 94.5 16.74 15 6.01 10.44 7.59 106 0.8 63 280.8 8 13.8 0.186 1.72 13.9 1.36 4.9 1.89 166 1.26 2.54 83 91 2.91 5.05 15.5 10.9 13.42 19 9.18 1.19 1.48 2.01 42 2.51 10.04 1.68 5.89 1.18 19.2

1.39 34.8 0.265 26.8 83 387 25.05 5.82 4.54 2.55 12.1 38.75 6.56 14.5 110 16.8 15.02 6.03 10.46 7.64 106 0.84 63.5 281.8 9.25 13.8 0.186 1.82 13.9 1.37 4.9 2 166 1.28 2.7 133.3 150 2.92 5.3 15.6 10.92 13.7 19.02 9.18 1.2 1.52 2.02 42 2.54 10.06 1.7 5.89 1.21 19.28

1571000 686900 4940000 7497300 172510 195550 3252600 980300 242000 39672000 6300 121300 74700 1048200 2340 148200 5523400 95800 4626600 1967500 246450 13588000 176270 587180 54000 476300 1100000 26660000 86100 718000 18000 100000 1462400 3110000 40000 780090 212200 19624000 200 36400 653500 167100 2449800 11000 2292000 13014000 209000 300 7865000 151800 884000 200 664000 225600

2181170 23990440 1336650 201079795 14329475 75347660 81344795 5732603 1115050 101226250 76398 4712155 484622 15164890 229151.5 2572358 83082958 578889 48466612 14994960 26214294 11399900 11169493.5 165703942 479576 6598356 204600 47320250 1199324 984980 88200 190460 244876077 3963040 102530 95615465.5 28502375 57664880 1035 570330 7171492 2272364 47092022 102180 2768990 19857450 430540 12600 20092050 1533926 1502240 1178 811880 4491324

HOLDING & FRIMS 1.05 13.74 894.5 55 15.44 3.81 6.78 0.73 1.37 1.4 6.89 10.3 14 4.47 0.245 940 6.4 67.4 6.36 5.3 0.495 4.13 15.2 0.67 4.8 0.042 1.37 1.38 478 969.5 177.8 0.86 2.48 267 0.237 0.33

0.94 14.44 899.5 55 15.46 3.99 6.78 0.73 1.4 1.42 6.75 10.38 14.16 3.9 0.24 940 6.41 66.95 6.24 5.29 0.495 4.15 15.28 0.66 4.82 0.04 1.4 1.37 459.8 957 178 0.84 2.38 265 0.235 0.33

1.06 14.54 899.5 55.9 15.7 4.06 6.78 0.77 1.46 1.46 6.88 10.4 14.16 4.48 0.245 944 6.41 67.4 6.36 5.29 0.5 4.15 15.3 0.67 4.82 0.044 1.4 1.37 480 969 180 0.86 2.38 267 0.235 0.33

0.94 13.72 893.5 53.8 15.28 3.76 6.7 0.72 1.36 1.37 6.7 10.22 13.86 3.9 0.234 923 6.32 65.05 6.24 5.29 0.485 4.04 15.18 0.65 4.77 0.04 1.33 1.37 459.8 957 175.2 0.82 2.38 265 0.231 0.32

1.05 13.74 894 55 15.44 3.81 6.7 0.73 1.37 1.37 6.88 10.3 14 4.48 0.234 940 6.4 67.4 6.36 5.29 0.5 4.13 15.2 0.66 4.8 0.042 1.36 1.37 480 969 175.2 0.85 2.38 267 0.232 0.33

175749000 177400 437640 861200 5802300 26872000 5900 626000 31924000 2582000 1674100 3163900 102400 2000 140000 44670 61000 1341230 13000 1000 70000 829000 4169700 2455000 29890000 204900000 1739000 67000 60 279190 124230 1041000 17000 380520 550000 5660000

178930610 2486170 391713435 47212902 89524346 104462410 39722 454710 45385130 3665200 11424503 32571682 1432662 8380 33530 41802715 390426 89144904.5 81692 5290 34550 3391500 63501484 1620910 143422960 8694800 2360550 91790 27794 269665305 21957205 868010 40460 101298510 128540 1843950

-30 -102595891 -112680110.5 -11060 -34931990 -30748819.5 5304 6420 -271670 -528280 -1013807 5908976.5 -99980 18650 -2740785 -198300 138095055 6286808.5 31644169.9999 3204620 -647797 -2979660 753955 6495 1278574 -190160 797832 -44138 11010936 -6453609 -18820218 -32380 3915678 -13159110 10820 64912 10862720 37884 48950 88200 -163470444 -176820 -141550 17515280 505 -153914 3011922 854458 1395338 -304400 -250130 -111139.9999 19150 -8480 22688200 2096 -77275545 11607755.5 553040 2518580 1340 1214160 4309024 -15234244 -190250 -14025675 -43684 20104547 -2182210 -3446746 -68340 72507970 58800 38669105 -3902685 21303980 -74100

Pioneer batch of Cebu Pacific Cadet Pilot Program completes flight training

T

welve new pilots comprising the first batch of Cebu Pacific (CEB) Cadet Pilots are set to join the carrier’s corps of aviators following completion of flight training. The CEB Cadet Pilots were given a reception upon arrival in Manila after completing 14 months of training at Flight Training Adelaide in Australia, in addition to ground school in the Philippines.

The first batch of Cebu Pacific Cadet Pilots include Martha May De Leon, Darryl Dave Ditucalan, Rydale Pintor, Kayrwin Kirch

Remolona, Jose Angelo Santos, Paulo Martin Concepcion, Ardreen Reguyal, Lorenzo Miguel Montinola, Ian John Satentes,

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.84 5.45

16.98 5.49

17 5.18

17 5.49

16.84 5.18

16.84 5.49

66200 21200

1118328 115553

WARRANTS LR WARRANT

1.91

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.86 MAKATI FINANCE 2.48 XURPAS 1.16

1.93

1.91

1.94

1.89

1.94

242000

460290

-

4.87 2.69 1.17

4.88 2.48 1.09

4.94 2.48 1.17

4.85 2.48 1.08

4.86 2.48 1.16

250000 2000 23774000

1216350 4960 26981880

-127100 96680

EXHANGE TRADE FUNDS FIRST METRO ETF

119.1

-1033328 -

119.6

120.5

120.5

119

119.6

3420

408889

12000

THE first batch of Cadet Pilots of Cebu Pacific is welcomed back to the Philippines after completing 14 months of flight training. Cebu Pacific Vice President for Flight Operations Capt. Sam Avila (eighth from left) and Flight Training Adelaide Director for Operations Capt. Grant Mules (seventh from left) lead the recognition and reception for the pioneer batch of Cebu Pacific Cadet Pilot Program

Geronimo Miguel Mantes, Aaron Jhun Bernabe, and Dexie Jay Aljas. They will need to complete mandatory training and other requirements to earn their commercial license before becoming full-fledged First Officers at Cebu Pacific.

The Cebu Pacific Cadet Pilot Program is a full scholarship pro-

gram that recruits candidates ab initio, and puts them on 56-week integrated flying training; flight theory and education course to become licensed commercial pilots.

After completion of the program, the cadet-pilots are guaranteed employment with Cebu Pacific, flying both domestic and international routes.

Peco files complaint vs 4 people for 27K false signatures

T

HE Panay Electric Co. Inc. (Peco) filed a complaint against four persons, including two Iloilo City counselors, who falsified 27,000 signatures in a manifesto opposing the renewal of its congressional franchise.

Based on the complaint, which was filed before the Department of Justice (DOJ), the two councilors were identified as Joshua C. Alim and Plaridel C. Nava. Two more were named respondents in the case. They are Presidential Consultant for Western Visayas

Jane Javellana and Iloilo resident Marigold T. Gonzalez, daughter of the late Justice Secretary Raul M. Gonzalez Sr. The complaint was filed on June 27. Peco, which also seeks P100 million in damages, said the manifesto was submitted by Nava and Alim to the Senate committee on public services during a hearing held on October 22, 2018. The same manifesto, said Peco President and Administrative Manager Marcelo U. Cacho, was also submitted to the House committee on legisla-

PROPERTY

ARTHALAND CORP 0.84 0.85 0.88 0.88 0.84 0.85 1840000 1580850 ANCHOR LAND 10.5 11 11 11.02 11 11 8900 97920 AYALA LAND 50.5 50.8 50.7 50.8 50.4 50.8 10811670 547599852.5 50180361.5 ARANETA PROP 2.02 2.06 2.02 2.08 2.02 2.08 130000 264360 BELLE CORP 2.33 2.35 2.31 2.37 2.31 2.33 235000 547990 -25590 A BROWN 0.82 0.84 0.85 0.85 0.82 0.83 1303000 1085210 207500 CITYLAND DEVT 0.91 0.92 0.92 0.93 0.9 0.92 225000 203370 CROWN EQUITIES 0.237 0.24 0.237 0.238 0.237 0.237 2340000 554940 CEBU HLDG 6.08 6.35 6.1 6.1 6.08 6.08 151900 926307 -839290 CEB LANDMASTERS 4.83 4.84 4.8 4.89 4.8 4.83 288000 1387800 CENTURY PROP 0.61 0.62 0.6 0.61 0.58 0.61 41151000 24770790 -1040920 CYBER BAY 0.445 0.45 0.47 0.47 0.445 0.45 2010000 916900 DOUBLEDRAGON 24.5 24.6 24.65 25 24.5 24.5 425400 10494450 73110 DM WENCESLAO 9.65 9.75 9.7 9.85 9.65 9.75 364600 3532287 17388 EMPIRE EAST 0.465 0.47 0.475 0.475 0.47 0.47 4910000 2309200 -2186650 FILINVEST LAND 1.87 1.88 1.92 1.94 1.88 1.88 81277000 154135770 -88662970 GLOBAL ESTATE 1.4 1.41 1.39 1.41 1.38 1.4 5827000 8140970 31969.9999 8990 HLDG 15.5 15.58 15.5 15.68 15.26 15.5 1075600 16674390 -569998 PHIL INFRADEV 1.85 1.86 1.95 1.95 1.83 1.86 8076000 15413080 -303310 CITY AND LAND 0.8 0.82 0.83 0.83 0.79 0.82 963000 769400 MEGAWORLD 6.05 6.1 6.1 6.11 5.99 6.1 13297400 80693708 929797 MRC ALLIED 0.34 0.345 0.345 0.345 0.335 0.34 20370000 6929050 329800 PHIL ESTATES 0.46 0.48 0.46 0.46 0.46 0.46 490000 225400 PRIMEX CORP 2.11 2.13 2.15 2.15 2.1 2.13 429000 907350 -2150 ROBINSONS LAND 25.85 26.35 26.45 26.45 25.65 26.35 809900 21212540 2217885 PHIL REALTY 0.4 0.405 0.4 0.4 0.4 0.4 360000 144000 ROCKWELL 2.23 2.24 2.12 2.23 2.11 2.23 1486000 3247330 -275750 SHANG PROP 2.95 2.99 2.99 3 2.95 2.95 449000 1330050 14770 STA LUCIA LAND 1.89 1.95 1.91 1.98 1.88 1.95 646000 1258340 11580 SM PRIME HLDG 37.1 37.15 38 38.2 37.1 37.1 21544000 805609730 -417681455 STARMALLS 6.4 6.41 6.4 6.44 6.32 6.4 66900 428220 SUNTRUST HOME 0.75 0.76 0.76 0.76 0.76 0.76 16000 12160 VISTA LAND 7.12 7.13 7.13 7.19 7.1 7.13 7713500 55047926 -15850628

SERVICES ABS CBN 17.16 17.18 17.1 17.24 17.1 17.18 39300 676042 GMA NETWORK 5.37 5.38 5.4 5.41 5.37 5.38 64300 346501 MANILA BULLETIN 0.52 0.53 0.54 0.54 0.52 0.52 675000 354330 GLOBE TELECOM 2254 2262 2260 2270 2232 2262 135600 305491830 -30452680 PLDT 1280 1290 1300 1318 1274 1290 99280 128708480 22158155 APOLLO GLOBAL 0.044 0.045 0.044 0.045 0.044 0.045 300000 13300 DFNN INC 5.92 6.29 5.9 5.9 5.9 5.9 1500 8850 IMPERIAL 1.79 1.92 1.81 2.03 1.81 1.92 46000 87210 ISLAND INFO 0.115 0.116 0.116 0.119 0.116 0.116 550000 63860 11600 ISM COMM 6.92 6.93 6.75 6.92 6.72 6.92 4547700 31062134 -3308673 NOW CORP 2.53 2.54 2.59 2.63 2.53 2.53 2045000 5260040 66820 TRANSPACIFIC BR 0.39 0.395 0.39 0.395 0.38 0.39 8080000 3136550 PHILWEB 3.64 3.66 3.65 3.69 3.61 3.65 1156000 4209160 -342550 2GO GROUP 11.16 11.18 11.18 11.18 11.16 11.16 2900 32370 ASIAN TERMINALS 21 21.3 21.5 21.5 21.3 21.3 1800 38440 -27690 CHELSEA 8.39 8.4 8.31 8.4 8.31 8.39 2020200 16891724 1933876 CEBU AIR 90.9 91 91.2 91.55 91 91 183800 16795216 6667921.5 INTL CONTAINER 143.1 146.4 144.2 146.4 143 146.4 1228960 178337114 -55005763 LBC EXPRESS 14.32 14.9 14.28 14.28 14.28 14.28 300 4284 LORENZO SHIPPNG 0.81 0.83 0.82 0.83 0.81 0.83 63000 51690 MACROASIA 19.06 19.08 19.28 19.28 19.08 19.08 332200 6348616 METROALLIANCE A 1.58 1.68 1.59 1.6 1.58 1.58 22000 34940 PAL HLDG 9.18 9.25 9.3 9.3 9.18 9.18 19600 181128 HARBOR STAR 2.2 2.21 2.19 2.24 2.19 2.21 711000 1575650 8940 ACESITE HOTEL 1.38 1.43 1.39 1.39 1.39 1.39 1000 1390 BOULEVARD HLDG 0.055 0.056 0.054 0.056 0.054 0.056 42070000 2309510 77190 WATERFRONT 0.74 0.75 0.77 0.78 0.75 0.75 3404000 2575380 75000 CENTRO ESCOLAR 6.98 7.19 6.98 6.98 6.98 6.98 2500 17450 17450 STI HLDG 0.73 0.74 0.74 0.75 0.72 0.74 6367000 4650090 1375210 BERJAYA 2.78 2.79 2.77 2.88 2.69 2.78 1969000 5469640 46070 BLOOMBERRY 11.3 11.38 11.3 11.4 11.26 11.3 5534000 62564870 -14486092 PACIFIC ONLINE 3.1 3.11 3.1 3.12 3.09 3.1 45000 139630 -62120 LEISURE AND RES 4.09 4.12 4.15 4.15 4.07 4.12 800000 3278960 MANILA JOCKEY 3.24 3.28 3.21 3.24 3.21 3.24 17000 54990 PH RESORTS GRP 5.33 5.4 5.4 5.4 5.32 5.4 18100 97012 PREMIUM LEISURE 0.78 0.8 0.78 0.8 0.78 0.8 2259000 1778730 -299750 PHIL RACING 8.21 9 9 9 9 9 700 6300 TRAVELLERS 5.47 5.48 5.3 5.5 5.3 5.48 7409000 40651476 -1251009 METRO RETAIL 2.53 2.54 2.55 2.55 2.53 2.53 1594000 4040290 27940 PUREGOLD 44.45 44.95 45 45 44.25 44.95 152300 6804815 -3752885 ROBINSONS RTL 74 74.05 73.7 74.95 73.7 74 290150 21466528.5 -6098282 PHIL SEVEN CORP 136 137 136 136 136 136 390 53040 50320 SSI GROUP 3.45 3.46 3.55 3.55 3.45 3.45 18635000 64896920 4882180 WILCON DEPOT 16.8 16.84 17 17.24 16.8 16.8 2353800 40124024 11010602 APC GROUP 0.49 0.5 0.485 0.5 0.48 0.5 8190000 4010700 -175000 EASYCALL 10.1 10.28 10.2 10.3 10.1 10.1 81500 826592 GOLDEN BRIA 407 407.8 400 407.8 395.2 407.8 3750 1525278 PAXYS 2.92 3.03 2.92 2.92 2.92 2.92 12000 35040 -35040 PRMIERE HORIZON 0.83 0.84 0.83 0.84 0.8 0.83 18572000 15200010 -1308310 SBS PHIL CORP 9.2 9.36 9.28 9.36 9.2 9.2 69900 647862

MINING & OIL ATOK 10.92 12.6 12.5 12.8 12.38 12.6 3700 46348 APEX MINING 1.23 1.24 1.23 1.28 1.23 1.24 3145000 3909530 24800 ABRA MINING 0.0018 0.0019 0.0018 0.0019 0.0018 0.0019 39000000 73600 ATLAS MINING 2.68 2.78 2.79 2.79 2.79 2.79 50000 139500 BENGUET A 1.2 1.22 1.21 1.21 1.2 1.2 5000 6010 BENGUET B 1.14 1.33 1.33 1.33 1.33 1.33 1000 1330 COAL ASIA HLDG 0.28 0.29 0.285 0.29 0.28 0.29 260000 73250 CENTURY PEAK 2.78 2.82 2.84 2.84 2.81 2.82 107000 301820 DIZON MINES 7.86 7.87 7.71 7.9 7.64 7.87 13700 105526 FERRONICKEL 1.5 1.51 1.5 1.51 1.49 1.5 617000 925950 GEOGRACE 0.22 0.227 0.229 0.229 0.22 0.227 2240000 493560 LEPANTO A 0.12 0.121 0.115 0.12 0.115 0.12 3860000 451750 MARCVENTURES 1.02 1.04 1.02 1.04 1.02 1.04 300000 306820 63240 NIHAO 1 1.02 1.02 1.02 1 1.02 65000 65250 NICKEL ASIA 2.25 2.27 2.26 2.29 2.22 2.25 956000 2154650 -366930 OMICO CORP 0.54 0.56 0.55 0.55 0.55 0.55 38000 20900 ORNTL PENINSULA 0.88 0.89 0.87 0.89 0.87 0.88 67000 58610 PX MINING 3.6 3.62 3.69 3.69 3.6 3.6 552000 2002960 -105580 SEMIRARA MINING 23.15 23.2 22.9 23.2 22.9 23.15 1017600 23445145 4848100 ORNTL PETROL A 0.011 0.013 0.012 0.013 0.011 0.011 42400000 508200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 2800000 33600 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 6800000 69700 PHINMA PETRO 4.56 4.7 4.9 4.9 4.5 4.7 503000 2337420 PXP ENERGY 7.65 7.66 7.85 7.85 7.66 7.66 395800 3046390 -397311

PREFFERED

HOUSE PREF A 94.05 96.85 94.05 96.85 94 96.85 830 78053 AC PREF B1 480 484.4 484.6 484.6 484.6 484.6 10 4846 AC PREF B2 485 497 493 497 493 497 1990 981110 ALCO PREF C 100.1 101.5 100.1 100.1 100.1 100.1 2750 275275 DD PREF 95.1 99.95 99.95 99.95 99.95 99.95 10 999.5 SMC FB PREF 2 960 979.5 961 961 960 960 2100 2016010 9600 FPH PREF C 419.2 450 450 450 450 450 10 4500 GLO PREF P 480 494.8 480 480 480 480 30 14400 LR PREF 0.99 1 0.98 0.98 0.98 0.98 5000 4900 MWIDE PREF 99.7 102.4 102.5 102.5 102.5 102.5 10 1025 -1025 PCOR PREF 2A 990 998 998 998 998 998 200 199600 -199600 PCOR PREF 3A 1000 1010 1010 1010 1000 1000 5040 5081090 PCOR PREF 3B 1001 1008 1008 1008 1008 1008 310 312480 SMC PREF 2B 75 75.55 75.5 75.5 75 75 1490 111865 SMC PREF 2D 72 73 72 72 72 72 8800 633600 SMC PREF 2E 73 73.9 73.9 73.9 73 73 701030 51175460 SMC PREF 2F 73.7 75 74.9 75 73.7 73.7 1014800 75603848 SMC PREF 2G 73.5 74.4 73.5 73.5 73.5 73.5 100 7350 SMC PREF 2H 70.65 73.7 72.05 73.7 70 73.7 816440 60130638 SMC PREF 2I 72.05 73 73 73 73 73 57030 4163190 -

www.businessmirror.com.ph

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices went down last week, snapping their five-week straight gains, but the main index fell less than a point shy of closing at 8,000 points.

The benchmark Philippine Stock Exchange index fell 55.76 points to close at 7,999.71 points.

“We saw a massive increase in traded value with value turnover at P51.72 billion, with more than P11 billion of that due to the block sale of BDO shares by the Malaysian wealth fund Khazanah, which was purchased by SM,” said Christopher Mangun, research head at AAA Securities Inc. “This block sale also distorted foreign-fund flows for the week, which showed foreign net-selling of P7.21 billion,” he said.

He said there was a lot of trading in second liners and speculative issues, with some of them trading more than the average blue chip.

“This told me retail investors were hungry and were looking for any opportunity to make money in this market,” he said.

Most of the subindices gave up points leby the All Shares index that fell 34.03 points to 4,893.78. The Financials index shed 36.78 to 1,720.08; the Industrial index lost 148.24;the Holding Firms index gained 9.71 to 7,703.01; the Property index declined 50.79 to 4,273.77; the Services index gained 7.34 to 1,711.29; and the Mining and Oil index surged 287.11 to 7,591.21.

Gainers managed to edge losers 118 to 98; and 34 shares were unchanged.

Top gainers were Concrete Aggregates Corp. A and B shares, Abacore Capital Holdings Inc., Pepsi-Cola Products Philippines Inc., BHI Holdings Inc. and Benguet Holdings Inc. Top losers, meanwhile, were Cirtek Holdings Philippines Corp., Metro Alliance Holdings and Equities Corp. A, Double Dragon Properties Corp., TKC Metals Corp., and San Miguel Food and Beverage Inc.

THIS WEEK

SHARE prices may start gaining next week as investors take their positions ahead of the release of first-half financial figures of listed firms.

“This early, several are anticipating improved second-quarter GDP [gross domestic product] on the back of approved fiscal budget plus higher consumer spending,” broker 2TradeAsia said.

“Overall attention should build up on the Philippine growth angle, starting with infra lineup, accommodative monetary plus fiscal expansion stories,” it said.

Next week, June inflation numbers will be released, and many are expecting it to be below 3 percent, providing investors confidence.

“In the meantime, we may continue to see retail investors trade second liners and speculative issues,” Mangun said.

STOCK PICKS

BROKER Regina Capital and Development Corp. gave a buy during breakout on the stock of BDO Unibank Inc. as it is still currently in the midst of testing its 52-week high of P142.30 with the momentum from last week’s trading session spilling over.

“It closed only less than 2 points below this established resistance, yet indicators are still bullish. The climb up is showing no signs of slowing down, at least for the remainder of the week, as all indicators maintain strong buying pressure,” it said.

It said should the stock breach the upper target of P146, indicators are pointing to another solid resistance at P148.98.

BDO shares closed Friday at P140 apiece.

On the other hand, the broker advised to take profits on the stock of First Gen Corp. after the stock has reached another fresh 52-week high in last week’s trading session at P27.05, a level which was last tapped four years ago in July 2015.

“The sustained breakout had FGen finally breaching the overbought region, with momentum hinting at possible profit-taking happening sometime within the next few days.

This ascent, however, had the stock forming support levels along the way, with the most immediate placed at P25,” it said.

Shares of First Gen closed last week at P26.80 apiece. VG Cabuag

tive franchises.

The P100-million claim represents the “amount of investment, equipment, and facilities, which Peco had spent and invested in building its business throughout its 95-year existence and service to the entire Iloilo community.”

Cacho said the use of falsified documents is a violation under Articles 171 and 172 of the Revised Penal Code.

Peco also charged the four with cyber libel under Section 4(c), Paragraph 4 of Republic Act (RA) 10175,

MUTUAL FUNDS

the Cybercrime Law. Citing the contents of the manifesto, Peco said the four sought the help of some individuals, including barangay officials, to gather 300 signatures from each of the 180 barangays in Iloilo City, or a total of 54,000 signatures, to support their position before Congress.

The group, however, only gathered 3,500 signatures, according to Cacho, thus the signature gatherers were allegedly “compelled to affix around 24,000 more fictitious signatures on the petition.” Lenie Lectura

June 28, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 268.22 8.64% -0.01% 1.16% 6.34% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6625 15.05% 9.11% 3.09% 15.39% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1474 6.26% 0.02% 0.26% 6.26% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9606 10.94% N.A. N.A. 7.87% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8883 10.53% N.A. N.A. 8.24% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5476 9.6% 1.02% 0.94% 5.25% MBG EQUITY INVESTMENT FUND, INC. -A 121.9 12.7% N.A. N.A. 4.67% ONE WEALTHY NATION FUND, INC. -A 0.8926 8.06% -3.6% N.A. 7.23% PAMI EQUITY INDEX FUND, INC. -A 53.1496 11.82% 0.97% N.A. 8.02% PHILAM STRATEGIC GROWTH FUND, INC. -A 552.76 10.04% 0.02% 0.97% 7.39% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.348 11.98% 1.92% 3.36% 7.5% PHILEQUITY FUND, INC. -A 39.4998 12.26% 2.52% 2.82% 7.83% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0668 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.392 12.95% 1.86% 3.18% 8.74% PHILIPPINE STOCK INDEX FUND CORP. -A 900.47 12.97% 1.58% 3.14% 8.69% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9404 13.37% 0.98% N.A. 9.2% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3987 12.4% 1.73% 2.51% 8.37% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0345 12.37% 1.53% N.A. 8.4% UNITED FUND, INC. -A 3.7865 11.14% 3.34% 2.72% 8.15% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 120.5775 13.46% 2.51% 4.21% 8.88% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9941 -3.63% 7.01% 0.11% 7% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2924 1.37% 9.72% N.A. 16.95% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7565 8.11% -1.1% -1.07% 6.38% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3343 5.33% 0.26% 0.81% 5.66% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6846 7.45% 0.14% -1.17% 5.54% GREPALIFE BALANCED FUND CORPORATION -A 1.3655 4.84% N.A. N.A. 4.69% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9537 7.84% 0.77% 1.46% 6% PAMI HORIZON FUND, INC. -A 3.7796 8.09% -0.3% 0.71% 7.09% PHILAM FUND, INC. -A 17.0181 8.89% -0.13% 0.75% 6.98% SOLIDARITAS FUND, INC. -A 2.1673 6.95% 0.82% 1.94% 4.58% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9175 9.92% 0.86% 1.65% 7.29% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.027 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0278 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0245 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0037 10.09% 1.08% N.A. 8.9% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03734 6.9% 1.68% 2.02% 5.93% PAMI ASIA BALANCED FUND, INC. -A $0.9884 -4.49% 4.25% -0.61% 5.58% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7446 3.17% 7.09% 2.77% 13.18% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.108 4.01% 4.56% N.A. 9.7% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 350.22 3.49% 1.99% 2.22% 1.99% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8996 2.01% -0.18% -0.13% 2.17% COCOLIFE FIXED INCOME FUND, INC. -A 3.05 5.66% 5.29% 5.29% 2.67% EKKLESIA MUTUAL FUND INC. -A 2.1852 3.25% 1.14% 1.9% 2.57% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3138 4.47% 1.03% 1.37% 4.73% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6058 2.26% -1.13% 0.06% 2.65% PHILAM BOND FUND, INC. -A 4.1816 5.99% -0.02% 1.25% 6.68% PHILEQUITY PESO BOND FUND, INC. -A 3.6715 5.31% 0.95% 1.4% 4.39% SOLDIVO BOND FUND, INC. -A 0.94 4.09% -0.38% N.A. 5.31% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9569 8.07% 1.56% 2.13% 6.91% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6435 8.05% 1.17% 1.67% 6.73% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $457.76 3.48% 1.85% 2.73% 2.11% ALFM EURO BOND FUND, INC. -A Є217.3 2.06% 1.51% 1.46% 2.19% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.184 6.56% 1.93% 2.46% 5.17% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 3.64% 1.06% N.A. 3.23% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7149 1.29% -1.39% 0.66% 1.46% PAMI GLOBAL BOND FUND, INC -A $1.0868 7.6% -0.07% -1.97% 4.74% PHILAM DOLLAR BOND FUND, INC. -A $2.3399 9.35% 1.37% 3.22% 7.77% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0590624 4.14% 1.55% 1.8% 3.65% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0765 6.76% 0.7% 2.67% 7.12% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.47 3.7% 2.4% 1.93% 2.18% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0146 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2137 3.9% 1.7% 1.05% 2.69% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2443 3.69% 2.65% 2.03% 2.08% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.028 2.14% N.A. N.A. 1.19%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018.

3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Insurance industry net income up 46% in Q1 as penetration dips

T

HE Insurance Commission (IC) has reported that the local insurance industry’s net income for the first quarter of the year amounted to P11.72 billion, up from the P8.042 billion posted in the same period for 2018.

Based on the unaudited quarterly reports submitted to the IC, the total net income reported by the life, nonlife and mutual benefit associations (MBAs) sector in January to March jumped by 46 percent with all three sectors posting increases.

The life insurance sector reported a net income of P9.08 billion for the three month period, showing an increase of 44 percent from the P6.31 billion in net income reported last year.

The increase can be attributed to the decreases in reserve, benefits

payment, and other underwriting expenses, according to the IC. Net income among nonlife insurers amounted to P1.04 billion, expanding by 121 percent from the P470 million reported last year, which can be attributed to huge increases in premiums earned, commissions earned and other underwriting income.

The MBA sector’s net surplus rose by 27 percent to P1.60 billion, from P1.26 billion for the same period.

Insurance Commissioner Dennis B. Funa explained that “the increase in the net surplus of the MBA sector is due to the upsurge of the net surplus of four micro-MBAs and the incremental growth on the net surplus of all regular MBAs.” Meanwhile, the total assets of

Perspectives Open banking opens opportunities for greater customer value

Y

OU don’t need a crystal ball to predict that the world is moving toward open banking. Some markets, led by the EU and the UK, have already taken the lead by creating and passing their own open banking regulation.

Other markets, such as Australia, Canada, New Zealand, Mexico, Argentina, Nigeria, Hong Kong (SAR), Japan and Taiwan (jurisdiction), for example, are also moving in that direction.

At the same time, there are a growing number of markets where—even absent of regulation—open banking is taking hold. In the United States, for example, the complexity of the federal financial regulatory system means there is little potential for federal-level open banking regulation any time soon. Yet, some of the greatest activity in open banking is happening in that market as players vie to find new ways to deliver new and compelling customer experiences.

Open banking goes global

OVER the coming few years, we expect to see a rapid uptake of open banking approaches and models as people become more aware of the benefits it could bring consumers and small to medium enterprises—the ability to quickly understand their financial position, explore alternatives and make better financial decisions.

Catalyzed by regulation, banks in Europe, the UK and Australia are already hard at work testing and prototyping new use cases and operating models that leverage application program interfaces (APIs) and open banking principles, such as comparison services, know-your-customer, auto savings and credit scoring to name a few. As these use cases are commercialized into functional solutions, the lure of open banking will grow (both for banks and for consumers).

At the same time, we expect to see customer demand and shifting expectations drive increased adoption of open banking models, even where regulation doesn’t explicitly require it. Customers are looking for easier, more seamless and intuitive value-added banking experiences and there are a growing number of fintechs and “challenger banks” seeking to capitalize on these developments.

As these new offerings start to influence customer expectations—and as customers start to understand and assess the value of their data—many banks will have little choice but to shift toward more open models (if only to reduce the friction between ecosystem partners) as they strive to offer better customer experiences.

Balancing the risks

OF course, there will also be the continued stick of regulation. As Scott Farrell—the author of Australia’s Review into Open Banking report—notes in a recent KPMG Australia publication titled “Get Set for Open Banking”: “There is a strong desire to move relatively quickly—and we should expect to see a number of new jurisdic-

tions implement open banking within the next two years.”

Indeed, the trend now emerging in some markets, particularly the UK and Australia, is to extend customer right to data across multiple sectors, including insurance, utilities and pension data.

While consumer “ownership” of data will be a central component, each jurisdiction will take its own distinct approach to open data regulation in each sector.

The challenge facing policy-makers and regulators is how to structure an open banking regime that balances the need for innovation, information security and privacy, and does not inadvertently create an uneven playing field for both traditional and nontraditional players.

In the EU, the balance seems to be in favor of the nontraditional players: with the proper consents, banks are required to open up their customer data to retailers, for example, but banks are not able to access retailer’s customer data. This not only creates an imbalance of information, it also dampens the desire for innovation in the banking sector.

Grabbing the low-hanging fruit

WHILE this has made open banking a compliance headache for many, we still expect to see banks start to get serious about finding the value in open banking in the near term. Many will be rolling out new capabilities and applications designed to make consumers’ lives easier (and their digital assets “stickier”).

Expect to see a plethora of new tools emerge—solutions like personal financial management platforms that aggregate spend data across users’ various banks, loyalty programs and payment platforms in order to provide insightful investment and financial advice. Also expect banks to become savvier in the way they source and analyze data in order to gain better insight into customer activity and interactions.

The reality is that the key to profitability (in the banking sector, at least) still rests in the bank’s ability to fulfill a greater number of their customer’s needs (whether through the bank itself or other third parties). Open banking has the potential to help banks know much more about their customers’ patterns of behavior, financial health, investment plans and goals; the challenge for banks will be in convincing their customers of the value in sharing their data.

The excerpt was taken from the KPMG article series, titled “Open Banking Opens Opportunities for Greater Customer Value: Reshaping the Banking Experience.”

2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved. Printed in the Philippines.

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

the insurance industry stood at P1.68 trillion in the first three months of this year, up by 8 percent from the P1.55 trillion booked in the same period last year.

In terms of investments, the total investments of the insurance industry rose by 13 percent yearon-year to P1.50 trillion, from P1.32 trillion in the first quarter of 2018.

The total net worth of the insurance industry also increased by 20.17 percent to P371.38 billion as of the end of first quarter this year, from P309.04 billion during the same period in 2018.

But the insurance industry posted a slight decrease of 8 percent year-on-year in terms of premiums from P76.64 billion last year to P70.71 billion this year.

“While the nonlife insurance and MBA sectors posted increases in net premiums written and contribution, respectively, the life insurance sector posted a decrease in total premiums,” Funa said. “The decrease in the total premiums of the life sector can be attributed to the year-on-year 59-percent decrease in premiums collected from single premium variable life insurance products.”

Based on IC’s data, the country’s insurance penetration also decreased to 1.68 percent from 1.96 percent in the same period for 2018.

There are total of 133 life and nonlife insurance companies and MBAs operating in the country as of the first quarter of the year from 133 in the same period for last year. Rea Cu

Residential real-estate prices up 3.1% in Q1, BSP data shows

By Bianca Cuaresma @BcuaresmaBM

R

ESIDENTIAL real-estate prices grew steadily in the first quarter of this year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

In their Residential Real Estate Price Index (RREPI) report published over the weekend, the Central Bank said residential real-estate prices grew 3.1 percent in the first quarter of the year compared to the same quarter in 2018.

The actual index—which measures the average change in the prices of various types of housing units comprised of single detached houses, duplexes, townhouses, and condominium units, based on data from housing loans granted by universal, commercial, and thrift banks—increased to 119.9 from 116.3 for the same quarter a year ago.

The rise in the residential real-estate prices stemmed mainly from the higher prices of condominium units and townhouses in the country.

In particular, the prices of condominium units grew 10.9 percent over a year while townhouse prices expanded by 9.6 percent from the first quarter last year.

Meanwhile, prices of single detached housing units decreased by 1.7 percent. Similarly, prices of duplex units also declined by 8 percent year-on-year.

By area, both places inside the National Capital Region, as well as in the provinces reported higher prices of real-estate values during the pe-

riod. NCR residential real-estate prices, however, grew faster at 8.7 percent while areas outside NCR grew 0.4 percent during the period.

Broken down, in NCR, the rise in the average residential property prices was largely due to the increase in the prices of condominium units. In areas outside NCR, all types of housing units registered price increases, except for single detached houses, which recorded a decline.

The RREPI, which is estimated every quarter and based on housing loans granted by banks, is a BSP initiative that provides a tool in assessing the real estate and credit market conditions in the country. It is computed as a weighted chain-linked index that is based on the average appraised value per square meter weighted by the share of floor area of new housing units.

By area, most of the residential real-estate loans granted in the NCR were for the purchase of condominium units, while loans granted in areas outside NCR were for single detached houses.

By region, NCR accounted for 42.5 percent of the total number of residential real-estate loans granted during the quarter, followed by Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) with 28.5 percent, Central Luzon at 9.1 percent, Central Visayas at 6.5 percent, Western Visayas at 4.4 percent, Davao region at 2.6 percent and Northern Mindanao at 2 percent). Together, NCR and these six other regions accounted for 95.6 percent of total housing loans granted by banks.

Monday, July 1, 2019

B3

Brokers urge BOC to review green lane rule

T

By Rea Cu

@ReaCuBM

HE Chamber of Customs Brokers Inc. (CCBI) has requested the Bureau of Customs (BOC) to review its implementation of green lanes in the ports nationwide, as a number of stakeholders have encountered problems with the process.

In his letter sent to Customs Commissioner Rey Leonardo B. Guerrero on June 27, CCBI National President Adones C. Carmona said that members of the CCBI have found the procedure in line with shipments going through the green lane as “confusing and complicated.”

“Undeniably, the process being implemented is in complete contravention of the rules on ‘color selectivity’ system,” the letter read.

The BOC implements a color selectivity system in the ports wherein shipments are tagged accordingly: green, as low risk; yellow, as medium risk; and red for high-risk containers.

Carmona explained that shipments handled by CCBI members, which have gone through the green lanes, were instructed to pay additional duties and taxes even containers that are covered by a letter of credit or with proof of payment.

“The irony of billing of the additional duties [based on official receipts of the Land Bank of the Philippines] were questioned by the importers since this did not course through the debiting process to their account,” the letter added.

Carmona also pointed out that the reason for the “no show” report coming from the BOC in line with truckers who were supposed to load the containers out of the ports after going through the green lane, was mainly because the shipments were held in line with the additional duties and taxes ordered by the BOC. “We do understand that the BOC has a mandate to collect rightful duties and taxes with the obligation to hit assigned revenue target by the government,” Carmona said. “It is, however, our contention that it should be done not at the expense and totally disregarding the rules and procedures of our color selectivity system.”

Shipments that go through the green lane at the ports are considered low risk thus being released from the port without documentary review and inspection.

The use of the green lane was suspended in August 2017 after a shipment containing P6.5 billion of methamphetamine hydrochloride, an ingredient for illegal drugs, slipped past Customs inspection and entered the country.

The resumption of the use of the green lane was implemented by Guerrero through a Customs Memorandum last December 2018.

“The mere fact that the system selected it [green lane] without any intervention of an importer or broker would mean that it has successfully satisfied the parameters set under our risk management system,” the letter added.

BOC records show it received CCBI’s letter mid-morning of June 27.

B4 Monday, July 1, 2019

IMUS CITY GOVT PARTNERS WITH MERALCO FOR ‘GREEN SCHOOL’

SM CENTER LAS PIÑAS IS P.R.A.’S SHOPPING CENTER OF THE YEAR FOR SMALL CATEGORY

SM Center Las Piñas was recently named Shopping Center of the Year for Small category at the recent 21st Outstanding Filipino Retailers and Shopping Centers of the Year Awards at the Shangri-La Manila Rizal ballroom. Since the 34,000-square-meter shopping center opened in 2009, it has grown into a community mall with strong partnerships. Photo shows PRA vice chairman Mars Chua (left), PRA Platinum awardee and Central Books President Ma. Alegria Limjoco (second from left), and Trade Undersecretary Zenaida Maglaya awarding the trophy to SM Chief Operating Officer Steven Tan (third from left), SM Supermalls senior assistant vice president for mall operations; Johanna Melissa Rupisan (second from right); and John Brian Tarnate (third from right), SM Supermalls regional operations manager for Region 5.

T

HE Mani la Electr ic Co. (Meralco) recently joined the c it y g o v e r n m e nt o f I mu s , Cavite, for the launch of the Green School program, an environmentsustainabilit y initiative that w ill provide clean and renewable energy to the city’s public schools.

Spearheaded by the Imus local government unit (LGU), the program

will benefit 35 public schools in Imus.

Meralco’s renewable-energy solutions subsidiary Spectrum was chosen by the LGU to install solar panels in all participating schools. Also in the pipeline under this program are the use of electric vehicles and water-treatment systems in these schools.

In photo are (from left) Imus National High School Principal Arturo Rosaroso

Jr., Meralco Bacoor Business Center manager Emmanuel de Jesus, Spectrum commercia l ser v ices head Rober t Pereja, Imus City Mayor Emmanuel Maliksi, Spectrum commercial account officer Rodolfo Lim Jr., Meralco Bacoor Business Center relationship manager Kristine Decena, and Meralco Bacoor Business Center sales and relationship management officer Paul Bacungan.

SUNSHINE PLACE STUDENTS ENTER 2019 G.S.I.S. NATIONAL ART COMPETITION

S

UNSHINE Place students once again entered the 2019 Government Service Insurance System (GSIS) art competition to showcase their talents for painting.

The competition is in partnership with Arts Association of the Philippines. The awarding ceremony held at the GSIS Teatro was attended by Sunshine Place instructors and students who were recognized for their talents and skills in the different art media.

For the past two years, three Sunshine Place female students received recognition in the same national competition as semifinalists and finalists. This year Sunshine Place is proud to announce that eight new students are being

recognized for their talent. Three of them reached the Top 25 and five reached the semifinals (Top 50) in their respective categories, out of 1,128 entries.

They are: Top 25 Mixed Media finalist Dr. Teresita Sy GiokLiong; Top 25 Non-Representational finalists Nena Arenas and Robert Fernandez; and Top 50 Non-Representational semifinalists Ma. Concepcion Bernardo, Erlinda Araullo, Laureana de la Cruz, Meriam Jalandoni and Rachael Escalaw.

The acrylic-painting class at Sunshine Place is every Tuesday, Wednesday, Friday and Saturday, with Fidel Sarmiento, president of the Arts Association of the Philippines, as main instructor. For inquiries, e-mail at seniorhubjupiter@gmail.com.

MUST-HAVE PRODUCTS FOR FRESH BACK-TO-SCHOOL LOOK

J

UST like huge transitions in life, the start of a new school year can be nerve-wracking.

Of course, first day jitters are common, but don’t let it get the best of you!

Boost your confidence by feeling, looking and smelling good with the help of Blackwater, the cologne line of the country’s leading cosmetics brand Ever Bilena.

Blackwater offers fragrance variants to suit different personalities to match your back-to-school look.

Dark Pleasure. Turn heads on your first day by wearing Blackwater deo spray in Dark Pleasure. For just P168, this aroma expertly blends together sweet and juicy grapefruit, marine accord and woody-herbal scents to come up with a refreshing fragrance that’s difficult not to notice!

Grey Marble. Thinking about trying out for the varsity team but scared of smelling like sweat? Then Blackwater deo mist in Grey Marble is perfect for you. The very masculine scent consists of citrus, wood and herbal musk. For P120, Grey Marble will make you feel confident throughout the day, even after an intense athletic activity.

Desire. Get a tap on the shoulder from someone who admires your baby powder fresh scent with hints of orange, lily and rose when you use Blackwater Women deo spray in Desire. This, indeed, is what a successful first day smells like.

Get it for only P168.

Berries and Cream. No one can resist lush notes of plum and berries with a hint of vanilla. For P120, show off the sweet girl that you are with Blackwater Women deo mist in Berries and Cream. Wear this throughout the new school year and you’ll surely make a great first impression.

Have fond memories this school year by wearing the right scent. Wear your favorite Blackwater fragrance to look good, feel good and smell good. All are available in leading supermarkets, department stores, and drugstores nationwide.

To know more about Blackwater and their products, visit http://blackwater.com.ph/ and follow them on Facebook at http://facebook.com/BlackwaterForMen.

C.R.E.B.A. SETS 28TH ANNUAL CONFAB FROM OCT. 9 TO12 IN CEBU

T

HE Chamber of Real Estate and Builders’ Associations Inc. (Creba) has set its 28th annual national convention from October 9 to 12 at the “Queen City of the South”.

The annual convention held every October, in view of the National Housing Month, fosters fellowship and networking among members, generates business interaction among institutions and discusses workable measures to address various housing concerns.

Pablo A. Panlilio Jr., executive vice president and chairman of the organizing committee, promises that, while the annual event has always been known for its unprecedented initiatives in support of national housing and development goals, it also beams with excellent opportunities in the framework of private sector and government cooperation.

Interested parties may e-mail at creba_national@ yahoo.com.

Sports BusinessMirror

C1

| Monday, July 1, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Federer-Nadal potential in Wimbledon semifinal

SERENA: I KNOW HOW TO PLAY W

IMBLEDON, England—Within the first minute of the Wimbledon draw ceremony on Friday there arrived a bit of information many were wondering about: Roger Federer and Rafael Nadal were indeed set up for a potential semifinal meeting, with Novak Djokovic possibly awaiting that showdown’s winner in the final.

Toward the end of the proceedings came the most fascinating first-round matchup of all: 39-year-old Venus Williams, a five-time champion at the All England Club, against 15-year-old American Coco Gauff, the youngest player to qualify at the All England Club in the halfcentury Open era.

In between, there were plenty of other things to keep an eye out for once the grass-court Grand Slam tournament begins on Monday, including the placement of Venus’s younger sister, Serena, in what shapes up as by far the toughest quarter of the women’s field. She might need to beat defending champion Angelique Kerber in the fourth round, then No. 1 Ash Barty in the quarterfinals.

Gauff grew up idolizing the Williams sisters, who have both been ranked No. 1 and own a combined 30 Grand Slam singles titles.

“They’re the reason why I wanted to pick up a tennis racket,” Gauff, who is ranked 301st this week, said in an interview posted on Wimbledon’s Twitter feed. “And I met them both, and they’re both super-kind people, and I’m just super-happy and thankful that they chose to play tennis.”

With defending champion Djokovic in the top half of the men’s bracket, he’ll now only need to beat at most one of the No. 2-seeded Federer or No. 3-seeded Nadal, because they were

THE great news is Serena Williams is pain-free now. AP

By Howard Fendrich

The Associated Press

W

IMBLEDON, England—It’s hard to know exactly what Serena Williams will be able to do over the next two weeks at the All England Club.

On the one hand, due at least in part to an injured left knee, Williams is short on matches and training time this season, factors she cited after her third-round exit on June 1 at the French Open, her most recent tournament.

She has only 12 tour-level matches so far in 2019. Just four of the other 127 women in the Wimbledon field have fewer—105 have at least twice as many.

Even on Saturday—when she declared she’s “feeling better” and her coach, Patrick Mouratoglou, said the 37-year-old American “doesn’t have pain anymore”—Williams let out a chuckle when she proclaimed, “I’ve had a good week and a half.”

Hardly the ideal amount of practice to try to get ready for Grand Slam competition.

And yet, on the other hand, as Williams put it with a wry smile, “I know how to play tennis.”

Yes. Yes, she does.

This is, after all, a seven-time champion and three-time runner-up, including last year, on the grass at Wimbledon, where play begins on Monday. She also is the owner of 23 Grand Slam singles trophies in all, more than anyone else in the professional era and one shy of equaling Margaret Court’s record for the most in tennis history.

“She didn’t do anything, really, like what she usually does, in terms of results this year. Even in Australia, she lost quite early for her, the quarters. So she hasn’t played her best,” Mouratoglou said, before uttering a single sentence that speaks volumes: “But she’s Serena.”

“And,” he added in an interview, “the weapons she has are probably even more efficient on grass than on any other surface.”

After the French Open, and her earliest loss at any major since 2014, Williams stuck around in Paris to see doctors.

Then, as usual, she skipped all tuneup events on grass. Williams started practicing in the middle of last week, starting with about a half-hour on court on Day One and working her way up to a couple of hours, plus gym time, by Day Four.

“The great news is she’s pain-free now. In Roland Garros, she was in a lot of pain. The preparation was difficult because of that reason. So we were more trying to deal with the pain, rather than prepare for a Grand Slam,” Mouratoglou said. “Here, it’s different. We got rid of the pain 15 days after Roland Garros and we finally prepared the way we want to prepare. It was a bit short, but she’s doing better every day. The surface is great for her. She doesn’t have pain anymore. It’s heaven.”

Williams could get a chance to ease into things. Her first-round opponent is qualifier Giulia Gatto-Monticone of Italy, who will be making her debut in Wimbledon’s main draw. Next might come another qualifier.

Then things should get more interesting.

Quickly. In the third round, Williams could face No. 18 seed Julie Goerges, her semifinal opponent a year ago. Get past her, and defending champion Angelique Kerber might be waiting. Get through that test, and No. 1 Ash Barty could be next. And that would only be to make the quarterfinals.

Indeed, that entire quarter is the bracket’s most challenging. Past Wimbledon champions Maria Sharapova and Garbine Muguruza are there, along with grass-court talents such as No. 13 Belinda Bencic, No. 22 Donna Vekic and Alison Riske.

“Everyone called it the ‘Death Quarter,’ so I had to look,” Vekic said. “It’s definitely a tough part of the draw.”

Mouratoglou’s take?

“It’s tough for the others,” he said. “I wouldn’t want to be in the part of the draw that Serena’s in.”

For quite some time, that’s been the thinking around tennis. Even in 2018, when Williams returned after more than a year off the tour while having a baby, she reached two Grand Slam finals.

“It’s hard for me to bet against Serena,” said 18-time major champion Chris Evert, now an ESPN commentator. “The one difference that I see in Serena is, since she’s come back, she’s been one or two steps slower than normal. I think that’s a little bit of fitness. I think it’s a little bit of match play. I think it’s a little bit of confidence. But on the grass, we also can’t forget that’s her best surface. That’s a surface that her game, with the power, with the free points on the serves, she’s the most effective.... I never think you can count her out.”

ROGER FEDERER serves and Rafael Nadal slips in practice for Wimbledon. AP

drawn together in the bottom half.

Nadal is ranked No. 2, and Federer No. 3, but that was reversed by Wimbledon’s seeding system, which takes into account grass-court results over the past two years.

The possible men’s quarterfinals are No. 1 Djokovic against No. 7 Stefanos Tsitsipas, and No. 4 Kevin Anderson, last year’s runner-up, against No. 6 Alexander Zverev on one side of the field, and Federer vs. No. 8 Kei Nishikori, and Nadal vs. No. 5 Dominic Thiem on the other. Nadal-Thiem would be a rematch of the 2018 and 2019 French Open finals, both won by Nadal.

The women’s quarterfinals could include Barty against No. 11 seed Serena Williams or No. 5 Kerber; No. 3 Karolina Pliskova against No. 8 Elena Svitolina; No. 2 Naomi Osaka against No. 7 Simona Halep; No. 4 Kiki Bertens against No. 6 Petra Kvitova, the two-time champion who must decide whether to play after being sidelined with an injured left forearm.

The quarter with Serena Williams, Barty and Kerber also includes past Wimbledon champions Garbiñe Muguruza and Maria Sharapova, and strong grass-court players Julia Goerges, Belinda Bencic, Donna Vekic, Kaia Kanepi and Alison Riske. Kerber could meet Sharapova in the third round.

At least the younger Williams, who as usual skipped the grass-court tuneup events, gets a chance to work herself into form. She opens against a qualifier, 162nd-ranked Giulia Gatto-Monticone of Italy, then could face another qualifier in the second round.

Nadal starts off against qualifier Yuichi Sugita of Japan, and Federer’s first opponent is Lloyd Harris, a 22-year-old South African making his Wimbledon debut.

Djokovic will get things going at Centre Court on Monday against Philipp Kohlschreiber, a former top-20 player who was a 2012 quarterfinalist at Wimbledon and beat Djokovic on a hard court at Indian Wells, California, this year.

Intriguing first-round pairings men’s include: Thiem against 2017 semifinalist Sam Querrey; 12th-seeded Fabio Fognini against 21-year-old American Frances Tiafoe; No. 19 seed Felix Auger-Aliassime against Vasek Pospisil in an all-Canadian matchup; and Nick Kyrgios against Jordan Thompson in an all-Australian matchup, with the winner likely facing Nadal, who was upset by Kyrgios in the fourth round at Wimbledon in 2014. AP

Gauff, 15, qualifies for All England

W

IMBLEDON, England—Coco Gauff, a 15-year-old American, has become the youngest player to reach Wimbledon’s main draw for women’s singles via qualifying in the Open era.

Gauff made it into the tournament with a 6-1, 6-1 victory that lasted just 55 minutes in the final round of qualifying on Thursday against Greet Minnen, a 21-year-old from Belgium.

Gauff is ranked 301st, Minnen 129th.

Gauff, who was born in Georgia and is now based in Florida, will be the 12th-youngest player to compete in women’s singles at the grass-court Grand Slam tournament since professionals were first admitted in 1968. The 11 who were younger all got spots in the draw via direct entry, rather than qualifying.

The last entrant under 16 was Britain’s Laura Robson, who was 15 in 2009.

Karolina Pliskova, meanwhile, beat Wimbledon champion Angelique Kerber, 6-1, 6-4, in

the Eastbourne final on Saturday, two days before the grasscourt Grand Slam starts in southwest London.

The No. 3-ranked Pliskova took the first set in just 31 minutes with three service breaks, and she held on to an early break in the second to win the title. She hit seven aces and won 71 percent of points on her first serve.

Pliskova said the score didn’t accurately reflect a tough match.

“I was fighting a lot, and I think Angelique is one of the best grass-court players,” she said.

Pliskova didn’t drop a set all week in Eastbourne, losing just 19 games across five matches, including a 6-1, 6-2 rout of fourth-ranked Kiki Bertens in the semifinals. She never has gone further than the fourth round at Wimbledon.

Kerber hasn’t won a tournament since beating Serena Williams in last year’s Wimbledon final.

Pliskova also won Eastbourne in 2017, a year after losing the final. Kerber has lost all three finals she has played at the Wimbledon tuneup. AP

Spo

Business

C2 Monday, July 1, 2019 SWEDEN’S Stina Blackstenius and her teammates celebrate their second goal against Germany. AP

SWEDEN UPSETS GERMANY R

ENNES, France—With Germany out of the way, Sweden believes it could win it all.

Stina Blackstenius scored the go-ahead goal just minutes into the second half and Sweden surprised Germany with a 2-1 quarterfinal victory on Saturday night at the Women’s World Cup. It was Sweden’s first victory over Germany in a major tournament in 24 years, and it sent the ninth-ranked Swedes into the semifinals against the Netherlands.

“We’re going to go for it,” Sweden Coach Peter Gerhardsson said.

The second-ranked Germans, who won back-to-back World Cup titles in 2003 and 2007, were the presumptive favorites on their side of the bracket. Instead, they’ll head home.

Germany Coach Martina Voss-Tecklenburg said her team seemed to lose focus.

“We knew it was going to be difficult,” she said. “We shall not let this bring us down. We have to make sure this process goes on despite the defeat, to keep on growing, to gain strength and channel this negative experience into something positive and to learn our lessons from it.”

The eighth-ranked Dutch defeated Italy 2-0 earlier Saturday, setting up the semifinal on Wednesday in Lyon. The United States plays England in the other semifinal on Tuesday. The final is on July 7.

Sweden’s victory came in a rematch of the 2003 World Cup final which Germany won 2-0 in Shanghai. The teams also met in the final at the 2016 Olympics, with Germany winning its

first gold medal with a 2-1 victory.

Sweden’s last win over Germany in a major tournament was in the group stage of the 1995 World Cup. “We knew we had a chance, and then of course we had to play our best game of the tournament to be able to beat Germany,” Gerhardsson said. “So I’m not surprised, but I knew we had to play and perform at our best on the offense and the defense. And I think we did.”

Lina Magull’s fantastic finish on a half-volley put Germany up in the 16th minute, with Sara Daebritz setting up the goal that veteran Sweden goalkeeper Hedvig Lindahl couldn’t get to.

Sweden’s Sofia Jakobsson tied it in the 22nd minute with a strike that went under the outstretched leg of German goalkeeper Almuth Schult.

It was the first goal the Germans had allowed at this World Cup, stopping a streak of 381 scoreless minutes. In 2007 Germany went a record 540 minutes without conceding a goal.

Blackstenius scored on a rebound off Fridolina Rolfo’s header just about three minutes into the second half to break the stalemate.

“I’m really happy. I’m so proud of the team, the

players in the game, the players sitting on the bench, the staff. We’re doing this together,” Jakobsson said. “I’m so grateful to be on a team like this.”

With temperatures in the upper 80s in Rennes, the teams were allowed a water break in each half.

Dzsenifer Marozsan returned to the bench for Germany after missing three matches with a broken toe on her left foot. Marozsan was injured in Germany’s opening match against China.

She started the second half and sent a free kick toward the goal in the 87th

NBA FREE AGENCY ON K

AWHI LEONARD is planning meetings in Los Angeles. Kevin Durant will do the same in New York.

Those are the cities where they’ll begin free agency.

Where they will end it will finally start to get clearer soon.

National Basketball Association (NBA) teams will start opening their checkbooks on Sunday at 6 p.m. EDT, when the negotiating window for one of the most hotly anticipated free-agent periods begins and with more than 200 players—including two dozen with at least one All-Star appearance—eligible to change teams in the coming weeks.

“Some people could say, ‘Oh my God, look at all that player movement,’” NBA Commissioner Adam Silver said during this past season. “On the other hand, that player movement could be very positive for a lot of teams.”

Leonard, Durant, Klay Thompson, Nikola Vucevic, Al Horford and Khris Middleton are among the top players who will be deciding whether to change addresses or not. Boston apparently knows it will be losing Kyrie Irving, because a person with knowledge of the situation told The Associated Press on Saturday that fellow All-Star point guard Kemba Walker has informed the Charlotte Hornets that he’s leaving them for the Celtics. Irving’s focus is believed to be on joining the Brooklyn Nets.

No deals can be signed until July 6 because of the league’s annual moratorium, though players and teams can enter into agreements starting on Sunday.

“There’s a lot of obviously decisions that will go into the summer,” Golden State guard Stephen Curry said.

“And we’ll deal with those accordingly.”

Everyone will, and won’t have a choice.

Changes could shift the balance of NBA power considerably—especially if Durant leaves the Warriors and Leonard leaves the NBA champion Toronto Raptors.

Durant will be pursued by the Brooklyn Nets, New York Knicks and Los Angeles Clippers along with Golden State; Leonard is likely to hear pitches from the Los Angeles Lakers, the Clippers and the Raptors.

Durant and Leonard were asked countless times this past season about their free-agent plans.

Neither offered much of a hint.

“I just want to play and just let people remember that I played hard at both ends of the floor, I was a winner, and that’s basically it,” Leonard said during the NBA Finals, on his way to winning his second ring and second finals MVP award. “I’m just here enjoying my dream, having fun.”

Durant won’t play next season because of a ruptured Achilles tendon. He still may command a $221 million, five-year contract from Golden State.

“I know what I bring to the team but I also know that a lot of people on the outside, you know, don’t like to see us together,” Durant said last month. “You know, I get it.”

Whether he and the Warriors remain “us” is up to him now.

Then again, even when players say certain things, it doesn’t mean much. A parting of ways between Irving and the Celtics didn’t seem likely in October, when the point

guard grabbed the microphone at a fan event in Boston and said “if you guys will have me back, I plan on re-signing here.”

Plans apparently changed.

“I shouldn’t really comment on things until things are done,” Celtics President Danny Ainge said on draft night, dodging question after question about Irving and Horford’s respective futures. “I really can’t comment on all of the things that are said to have happened. I wish I could tell you everything I know, but I can’t.”

It’s a certainty that the Lakers will be extremely active in free agency, since they’re about a week away from having only three players actually on their roster.

Take away their restricted free agents, and when the complex six-player, four-pick trade with Washington and New Orleans gets executed on July 6 and lands the Lakers Anthony Davis, they’ll have just him, LeBron James and Kyle Kuzma under contract.

“We have a superstar on our team and an open slot,” Lakers General Manager Rob Pelinka said earlier this offseason, when the team hired Frank Vogel as its new coach and before it swung the deal that will net Davis. “So I think that people can look at this as an opportunity to come and win a championship possibly next year. And we’ve got to do the work.” AP

Peru advances in Copa América

S

ALVADOR, Brazil—Underdogs Peru advanced to the semifinals of Copa América on Saturday after a goalless draw and a penalty shootout miss from Uruguay striker Luis Suárez.

Peru’s next opponent will be defending champion Chile, who eliminated Colombia also on penalties on Friday night. The match will take place on Wednesday at the Arena do Grêmio in Porto Alegre.

Brazil and Argentina will face off on Tuesday in Belo Horizonte for the other spot in the July 7 final at the Maracanã Stadium in Rio de Janeiro.

Suárez was the only player to miss from the spot and left the field in tears.

Edison Flores scored Peru’s last goal in the 5-4 penalty shootout win.

Goalkeeper Pedro Gallese, who was under severe criticism after Peru was routed 5-0 by

Brazil a week ago, saved Suárez shot with his belly and decided the match for the Peruvians.

“He is a goalkeeper that always appears in the important moments,” Peru Coach Ricardo Gareca said.

Peru got through the group as one of the top 2 teams finishing third place. Its only win in four matches was a 3-1 against weak Bolivia.

The match in Salvador offered few opportunities for both teams and was played under rain in the entire first half.

Only 21,000 fans were at the 48,000-seater Arena Fonte Nova to watch.

Uruguay, the team that has won the most Copa Américas, with 15 titles, created the best opportunities during the 90 minutes, but the goals scored by Giorgian de Arrascaeta, Edinson Cavani and Suárez were disallowed by offside. AP

Colombia-Chile match delayed because of traffic

ÃO PAULO—The Copa América quarterfinal between Colombia and Chile was delayed after the Chilean squad didn’t arrive in time because of heavy traffic in São Paulo.

The match at the Arena Corinthians started 20 minutes after originally scheduled to give Chile time to warm up.

Colombia started to warm up on the field but players went back to the changing rooms

S

LECLERC

S

minute, but Lena Oberdorf’s header was off the mark.

Marozsan was an inspirational story for the tournament in France, having returned to the game after a pulmonary embolism kept her sidelined for several months last year.

With the win, Sweden also secured a spot in the 2020 Olympics, along with the Netherlands and Great Britain. The top 3 European teams at the World Cup qualify for an Olympic berth.

“We failed to penetrate their defense even when they were tired. It is a real shame that we can’t defend our Olympic title and that we will be without a big tournament next summer,” Schult said.

The Germans had won 12 straight matches going into the World Cup. AP

Dutch in first Women’s World Cup semis

V

KAWHI LEONARD is one of the hottest commodities in the free agency. AP

Leclerc in Austrian GP pole, Hamilton fifth after penalty

PIELBERG, Austria—Ferrari driver Charles Leclerc won the pole position for the Austrian Grand Prix on Saturday, while Mercedes’ Lewis Hamilton drew a three-place grid penalty and will start in fifth position.

It is Leclerc’s second career pole following the one at the Bahrain GP in March. He missed out on what seemed a certain victory in that race because of engine problems with 10 laps left.

The Monaco driver, who led two of the three practice sessions, set a track record of one minute and 3:003 seconds. He was 0.259 faster than Hamilton, as Mercedes failed to match Ferrari’s pace on the straights.

Hamilton, however, lost three places on the grid for “unnecessarily impeding” Kimi Raikkonen in the opening qualifying round. Coming out of the pit lane, Hamilton crossed the race line while trying to make way for the Alfa Romeo driver, prompting a

hand gesture from the Finnish driver.

“I tried to go straight on and get out of the way because I didn’t want to meet in a corner,” said Hamilton, adding that “I might have put him off. That wasn’t ideal.”

Last year’s winner, Red Bull’s Max Verstappen, was 0.436 behind in third, but will join Leclerc on the front row following Hamilton’s grid penalty.

Hamilton teammate Valtteri Bottas, who started this race from pole the last two seasons, was the only other driver to clock a lap within a second of Leclerc’s time.

“It is a big pleasure to drive this car under high pressure,” Leclerc said. “Tomorrow the start will be very important. There is a long straight after it. Normally we are quite fast on the straights so hopefully we can keep that first place in the first three corners. It looks promising.”

It is Ferrari’s first pole in an Austrian GP since Michael Schumacher got it in 2003, but it was a bittersweet success. Sebastian Vettel had to skip the final qualifying round following an issue with the air-pressure line to his engine, leaving the German four-time champion only in 10th place.

“It’s a bit [of] a shame for the team as both cars should be closer to one and two,” Leclerc said.

Hamilton will be after his seventh win of the season on Sunday. Mercedes has won four of the five Austrian GPs since the event’s return to the F1 calendar in 2014, and the team has started the race from pole the last four seasons.

“Charles has been quick all weekend. We definitely underestimated how fast they would be,” Hamilton said. “It was very tight in the end and it is quite cool to see three teams on the top-3 positions.” AP

after being told that Chile would not make it in time. They later returned to finish their pregame session along with the Chilean squad.

“Everything was well-planned, but we still couldn’t make it in time,” Chile Coach Reinaldo Rueda said after his team’s win on penalties.

“There was some anxiety inside the bus, but we tried to make sure that it didn’t affect the players during the game.”

Chilean media said it took nearly two hours for the squad to make it to the stadium in the suburbs of South America’s biggest city.

After having two goals taken away by video review, Chile kept its cool and stayed on track to defend its Copa América title.

Chile overcame two unfavorable VAR decisions in regulation time on Friday, then defeated Colombia, 5-4, on penalties in the

quarterfinals of the South American competition.

Alexis Sánchez scored the decisive penalty kick to send the two-time defending champions to the semifinals.

Chile will face either Uruguay or Peru, which meet on Saturday in Salvador. Brazil and Argentina will play in the other semifinal.

Chile had goals reversed by video review in each half of a 0-0 draw in regulation time. AP

ALENCIENNES, France—The Oranje procession will roll into a Women’s World Cup semifinal for the first time. The parade of fans, covered head to toe in orange, the brass band—and, of course, the free kick specialists on the field.

In the sweltering afternoon heat of northeast France, the Netherlands relied on a pair of headers off free kicks by Sherida Spitse to beat Italy, 2-0, in a quarterfinal game on Saturday.

Vivianne Miedema scored off Spitse’s delivery from the left side in the 70th minute to claim her 61st goal in 80 appearances for the Netherlands.

“In the end, people expect me to score goals,” Miedema said. “That header, I had a good feeling.”

So did Stefanie van der Gragt 10 minutes later, powering in a towering header when Spitse swung in a free kick from the right.

“I had the strength to get the ball in the right place,” Spitse said. “Our football, we could also play a little bit more and could score goals but it’s nice to score from set pieces, as well.”

Six of the last eight goals have come from set pieces at this World Cup, only the second time the Dutch women have appeared in the tournament. Four years ago, they only made it to the round of 16 but laid the foundations to win the European Championship in 2017.

“I didn’t expect to be in the semifinals of this World Cup,” Miedema said. “We’ve been complaining that we’re not playing the best football but in the end we’re in the semis. We’ve done amazing and we can be really proud.”

The Netherlands will play Sweden in the semifinals on Wednesday in Lyon, a day after England plays the United States in the same stadium.

Expect an influx of thousands of Dutch fans to central France, just as they have painted towns orange across a tournament that has struggled to attract crowds.

“It’s unbelievable, they really help us,” Netherlands Coach Sarina Wiegman said. “It’s very special and it’s not something you get used to.”

The Dutch are getting used to a lot of new things in recent years.

With a place among the top 3 European teams at this World Cup now secured, the Dutch have claimed a spot in the Olympics for the first time. They will be going to the 2020 Tokyo Games with Sweden and England, which organizes the British team.

The women’s team is flying the flag for Dutch soccer in international competitions, with the men failing to even qualify for the 2016 European Championship or 2018 World Cup. “I’m not really surprised with how far we’ve come, but I’m very proud of the team,” Wiegman said. “We have had some moments where we were lucky but there’s such a great team spirit and there’s such a great belief that we can perform well. The word proud is more suitable than surprised.”

Italy was surprised by how far it got after missing out on the last four Women’s World Cups. The team made the quarterfinals at the inaugural edition in 1991 and was knocked out in the group stage in 1999.

“The women’s game has been discovered and appreciated back home, so it’s a big deal,” Italy Coach Milena Bertolini said. “I believe the girls have a greater confidence and awareness of what great players they are. AP

orts

sMirror

BaliPure import’s uncalled-for act draws reprimand

P

REMIER Volleyball League (PVL) organizer Sports Vision Management Group Inc. (SVMGI) on Sunday reprimanded import Danijela Djakovic of Montenegro for hitting BaliPure teammate and libero Jewelle Bermillo during their match with Creamline at the close of the PVL Reinforced Conference double-round eliminations at the Filoil Flying V Center in San Juan the other day.

“Such uncalled-for act has no place in the league and though she [Djakovic] had issued an apology right after the incident, which Bermillo accepted, we view this act [of Djakovic] as offensive not only to Bermillo but also to the sensibilities of all stakeholders of the sport and its ever-growing fans,” said Ricky Palou, president of SVMGI, which revived the once-dormant sport in 2004 and helped make it what it is today.

Palou, however, stressed that a repetition of the act—by any erring player—will be dealt with more severely.

“We invite these imports to spice up the tournament, primarily for the fans, and at the same time share their expertise with the local players,” Palou said. “Conversely, we expect them to play and be at their best, game-wise and character-wise.”

The 5-foot-9 Djakovic hit the diminutive Bermillo on the nape on impulse as BaliPure, in dire need of ending a winless run, trailed 19-24 in the opening frame.

As Creamline’s Jema Galanza poised to wrap up the set with an off-speed hit, Bermillo and Djakovic both went for the dig, resulting to their collision. In frustration of failing the keep the ball in play and losing the set, Djakovic hit Bermillo in the back of the head.

Shocked, Bermillo was reduced to tears as her contact lens also fell from the impact of the strike.

The incident immediately went viral, infuriating fans on social media.

What followed next, however, was not seen on the Internet, according to Palou, pointing to Djakovic’s gesture of profusely apologizing to Bermillo, embracing her and assisting her all the way to their bench.

“I said I’m sorry. I’m so close to her and I love her. I just hugged her since I cannot explain this,” said Djakovic, stressing that emotions got the best of her that even she, herself, was surprised with what she did. “I was not able to control my emotions.”

Bermillo accepted Djakovic’s apology and said she was really shocked for what had happened.

Monday, July 1, 2019

G

ILAS Pilipinas Youth suffered a double whammy on Sunday after it bowed to host Greece, 69-95, then lost its key big man AJ Edu to a tournament-ending injury at the start of the International Basketball Federation (Fiba) Under-19 World Cup at the Heraklion Arena in Heraklion.

Cheered by a small contingent of overseas Filipino workers, the boys were off to a blistering start to build an early 22-12 advantage against the equally tall Greeks.

But the fun was short-lived in the first quarter as the higher ranked hosts banked on their outside shooting to get into the groove and grab the lead at half time it never relinquished.

It didn’t help that the 6-foot-10 Edu, an America-based collegiate

BATANG GILAS IN BAD START stalwart of University of Toledo, was carried to the bench after twisting his right knee in a baseline drive merely two minutes into the match.

The worst news came as Gilas Pilipinas Youth physical therapist George Yorobe confirmed the seriousness of the player’s injury in social media.

“After the MRI was done, we requested an initial reading from the radiologist on duty,” the post said. “AJ Edu suffered an anterior cruciate ligament and meniscal tear on his right knee with hairline fracture on his right femur bone.”

Samahang Basketbol ng Pilipinas President Al Panlilio said they were shocked of Edu’s unfortunate exit from

the tournament.

“The SBP is committed to help him get through this ordeal, and we are behind him all the way. We will help with whatever he needs,” Panlilio said. “As I said, this national team is a journey together. No one is left behind.”

Kai Sotto carried the torch for Gilas by tallying 13 points, 10 rebounds and three blocks.

Gerry Abadiano aided with his own share of 13 points, seven boards, while Dave Ildefonso and Carl Tamayo chipped in 12 and 9, respectively.

Nikolaos Arsenopoulos topscored for Greece with his 18 points, while Aristotelis Sotiriou added 16 points and nine rebounds.

The 7-foot-2 Sotto gets a bigger role this time

with the exit of Edu. He will need help from fellow bigs Tamayo and Geo Chiu.

Gilas Youth battles Argentina—which narrowly beat Russia, 86-84—at 1 a.m. (Manila time) on Monday.

The Philippines and Greece are bracketed in Group C with Argentina and Russia. Group A is composed of Australia, Canada, Latvia and Mali, and Group D has China, France, Puerto Rico and Serbia.

Canada won the title two years ago in Egypt and will be looking to become only the second team in the history of the competition to win back-to-back titles after with the United States, which accomplished the feat twice. Ramon Rafael Bonilla

INTEGRITY ON THE LINE

By Ramon Rafael Bonilla

A

PHILIPPINE Olympic Committee (POC) that is losing its integrity convenes on Monday an executive board meeting that intends to tackle succession, resignations and elections, among others.

Jose Romasanta, who told media he has resigned as first vice president last Tuesday to give way to

“fresh faces to run a damaged POC,” has called for the executive board meeting in his capacity as “acting POC president.”

The meeting is again set at 1:30 p.m. at the GSIS Building in Pasay City, turf of GSIS administrator, archery head Atty. Clint Aranas, who, like Romasanta, tendered both an oral and written irrevocable resignation that now looked otherwise.

Romasanta said Ricky Vargas’s resignation as president tops the agenda—although the resignation of members of the executive board would be as onerous.

In last Tuesday’s extraordinary general assembly that was transformed into a mere caucus because of technical issues, Romasanta—along with Aranas and then Chairman Rep. Abraham Tolentino (cycling)—

announced a general assembly decision to declare all positions in the POC as “vacant” and that elections were called for this Friday.

There were reports that Romasanta, Aranas and co. had a change of heart in announcing their resignation, putting the POC integrity on the spot.

Board members Robert Manangquil of billiards and snooker, Prospero Pichay of chess and Jeff Tamayo of soft tennis were absent in the meeting, thus their resignations were left hanging. Jonne Go of canoe-kayak reportedly resigned, too, but not wushu’s Julian Camacho.

Tolentino and Aranas are believed to be eyeing the presidency with the cycling chief securing the commitment of taekwondo’s Robert Aventajado as his running mate for the post of chairman.

DYIP VICTORIOUS

Columbian Glenn Khobuntin challenges the defense of San Miguel Beer’s Arwind Santos during their Philippine Basketball Association Commissioner’s Cup game on Sunday night at the Smart Araneta Coliseum.

Dyip won, 134-132, in overtime.

Blu Girls undergo another acid test in US softball tourney in Columbus

SOFTBALL Association President Jean Henri Lhuillier gives the Blu Girls a pep talk.

T

HE Cebuana Lhuillier-backed Blu Girls will fly to Georgia in the United States to compete in the USA Softball International Cup at the South Commons Softball Complex in Columbus.

The Blu Girls, ranked 13th in the world, will face world No. 8 China in their first game on Monday.

“This tournament is an avenue for the Blu Girls to gauge their strengths and weaknesses in preparation for the qualifying tournament for the 2020 Tokyo Olympics in September,” said Jean Henri Lhuillier, president of the Amateur Softball Association of the Philippines and president and CEO of Cebuana Lhuillier.

“The teams the Blu Girls will be facing are the top squads in Asia and Oceania. I am very confident that the girls will prove their mettle against their competitors, and more than that, bring glory to our country,” he added.

The Blu Girls, who are coming off a strong performance in the recent Asia Cup Women’s Softball Championship in Jakarta, will also face USA’s Women’s National Team on the same day.

Also seeing action are US’s U-19 Women’s National Team, world No. 2 Japan, No. 4 Puerto Rico, No. 5 Mexico, No.6 Chinese Taipei, No. 20 Peru and the Scrap Yard Fast Pitch team.

JUVIC TRIUMPHS, AGAIN Juvic Pagunsan holds his trophy as he poses with

organizing Pilipinas Golf Tournaments Inc. Executive Director Narlene Soriano (left) and Iloilo Golf and Country Club President Herminio Maravilla after winning the International Container Terminal Services Inc. Iloilo Golf Challenge crown, completing a three-straight title romp after Asia’s former No. 1 dominated the Bacolod City legs in Binitin and Marapara.

Spotlight on Guamanian, Aussie

G

UAM’S Manami Iijima and Australia’s Dimity Lee Duke bring their rivalry to Davao with the former seeking to score a repeat and the latter going all out for a payback in the inaugural Penong’s 5150 Triathlon firing off on July 7 at the Waterfront Hotel.

Iijima upended Duke with a strong performance in the opening swim leg and went on to rule the Subic 5150 race last November that capped a productive season for the rising endurance racing star that saw her romp off with victories in Guam and Saipan.

Heading to Davao, however, Iijima braces for a tougher challenge with Duke raring to bounce back strong in the upcoming event organized by Sunrise Events Inc. set over the Olympic distance of 1.5-kilometer swim/40-km bike/10-km run in the country’s emerging triathlon hub.

But Lisa Tyack of Australia and New Zealand’s Laura Wood are also both all geared up, eager to

spoil the projected Iijima-Duke duel and earn a crack for the top $2,000 purse in the event put up by Davao’s favorite barbecue house Penong’s Barbecue and Seafoods Grill.

Keen competition is also seen in the men’s pro category, which drew the likes of Aussies Mitch Robbins and Alex Polizzi, Czech Jakub Langhammer and Kiwi Kieran McPherson, while spicing up the event is the Sunrise Sprint, to be disputed over the 750-meter swim/20-km bike/5-km run distance.

Other titles up for grabs are those in various age categories and relay competition. For details, visit www.ironman.com/philippines with official hashtags #Penongs5150, #5150Davao.

Still, focus will be on Iijima, a former pro swimmer who won her first triathlon as an age-grouper, then immediately turned pro. She was named Guam’s Athlete of the Year when she captured the Ironman 70.3 Philippines crown in 2017.

Afad provides much-needed boost for top shooters

T

HE country’s top shooters will get that muchneeded boost as the Association of Firearms and Ammunition Dealers of the Philippines, Inc. (Afad) announced plans to help improve their shooting skills and accuracy, especially during competitions.

Afad President Alaric Topacio said the group plans to support multiple shooting events and also hold its own competition named the Afad Cup, which will serve as a tune-up match and qualifier for those participating in the 2019 IPSC Australasia Handgun Championship to be held in Lipa City,

Batangas, from November 10 to 17, and the 2019 IPSC Rifle World Shoot II to be held in Karlskoga, Sweden, from August 3 to 10.

“Afad Inc. has always been supportive of talented Filipino athletes who bring recognition and honor to the country in all international shooting competitions,” Topacio said.

Afad wants to promote shooting so more Filipinos will take up the sport for recreational and competitive activities.

“Filipinos stand a big chance to excel in various disciplines of shooting sports,” Topacio pointed

out. “In fact, a shorter shooter can maintain better balance when standing for long periods of time holding a gun, as well as keep their gun steady.”

Afad holds the longest-running gun show in the country, the Defense and Sporting Arms Show (DSAS).

This year’s iteration, the 27th in the series, is seen as the largest to date, with 60 exhibitors offering a range of firearms, ammunition and shooting paraphernalia.

More than 25,000 firearms and shooting sports enthusiasts are committed to the five-day exhibit set from July 11 to 15, 2019, at the Megatrade Hall of the SM Megamall in Mandaluyong City.

OFFICERS and members of the board of the Association of Firearms and Ammunition Dealers of the Philippines Inc., led by Alaric Topacio (center), strike a pose. From left: Jessica Li, Kalki Jimenez, Edwin Año and Pamela Comia.

C3

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Growing pains for Bacolod THERE was exactly one second left on the shot clock when Paolo Javellona threw up a 26-foot three-point shot that swished right through the nets to put the Bacolod Master Sardines within a bucket of the fancied Makati Super Crunch, 69-66; 6:36 left to play.

Bacolod forced a turnover on Makati in the next play, but Jopher Custodio’s triple failed to find the mark. After a free throw that the Super Crunch’s Jeckster Apinan tacked on for a fourpoint lead, Bacolod’s Jerome Ortega drove down the right baseline to slice the lead in half, 70-68, 3:54 left.

Bacolod’s bench erupted in celebration.

Makati threatened to pull away as they went up 77-68 with 2:13 to play, but just as they did all game long, triples from Bacolod kept them close as Custodio and Javellona’s back-to-back threes put them once more within a shot, 77-74 with 1:15 to play.

Makati closed out the game with a 7-0 run as Bacolod self-destructed with two consecutive turnovers and three straight missed shots.

Makati won, 84-74, for their second win in as many games, while Bacolod evened out their slate to 1-1 (they defeated the Mindoro Tamaraws in the Maharlika Pilipinas Basketball League debut, 87-83).

Although a loss, much can be said about Bacolod’s effort. They were formed barely two weeks before the MPBL Lakan Cup tipped off. Many of their players aren’t even in any semblance of shape. Former Perpetual Help Altas forward Justine Alano who was one of that team’s Fab Four alongside Juneric Baloria (playing for Makati), Scottie Thompson (Barangay Ginebra) and Harold Arboleda (Zamboanga in the MPBL) joined the team a week ago. Though undersized, he is feisty inside and a very good rebounder and passer.

“Gusto ko tumulong pero wala pa ako sa kundisyon,” he said.

At the half-time break with Makati leading, 34-24, Bacolod head coach Vic Ycasiano, who is no stranger to adversity, asked his team why they were running away from their game plan. “Bakit tayo nagmamadali?” he asked. “Meron tayong sistema. I-half court natin. Kasi kung mabilisan, laro nila ’yan.”

Without his team in tip-top game shape, he wanted to conserve them for the game. “We look for the open man and pass that ball around.

Hanap ng butas,” he said. Ycasiano won a NAASCU title with STI and with National University in the UAAP as an assistant to Eric Altamirano. Both those teams struggled before they ascended to the summit. He knows that it isn’t going to be easy, especially with teams like San Juan, Manila and Makati getting the jump on star players.

They do have Mac Tallo, who not only has a chip on his shoulder but has something to prove. There’s Javellona who was solid for NU during his UAAP days, but the rest are all role players. Former Adamson Falcon Jan Colina, who was with Altamirano and Ycasiano with the Flying V Thunder in the D-League, isn’t the player he was in the UAAP as he has spent more time in the Philippine Army than playing basketball. Outside the UAAP, Custodio was a star for Manuel L. Quezon University and got to play with KIA in the PBA. Jerome Ortega starred for AMA Computer College also in NAASCU. Haddi Porto played for Ycasiano with STI and was a part of the Olympians’ title team.

Arnold Danganan, who was not allowed to play by table officials as his paperwork was allegedly not submitted to the league, played for the Altas alongside Alano.

“We’re like a patched-up team,” said Ycasiano. “But when we are able to get this team in shape and understanding what we want to do—lalaban kami. We will hit our stride a few weeks from now. Hopefully, we don’t do too badly.”

After the loss to Makati, Javellona said, “Kaya naman namin. We made some mistakes lang. But we will learn. Sayang lang. We could have won this.”

As the team made their way into their locker room at the Filoil flying V Centre in San Juan, Ycasiano nodded. He knew his boys gave it their best this game despite all the shortcomings. But the competitor in him made him wince. “Growing pains,” he muttered. Then he entered the dugout.

Sports

MLB scraps 2020 Asia opener; eyes more Euro games

L

C4

| Monday, July 1, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ONDON—Major League Baseball (MLB) has scrapped plans to open its 2020 season in Asia and hopes to play more games in Europe.

MLB started its season in Tokyo for the fifth time in 2019, and its labor contract with the players’ union called for a 2020 opener in Asia.

“We just decided it probably wasn’t the right time to try to do it,” MLB Commissioner Rob Manfred said on Saturday.

In addition to Tokyo and London, MLB had two series at Monterrey, Mexico.

“We have a fairly small international staff. This was a really aggressive play for us this year,” Manfred said.

Union Head Tony Clark said baseball is focusing on a 2020 offseason tour.

“So we still have Asia tentatively on the calendar as far as we’re concerned,” Clark said in a text. “The 2019 events have taxed the initial play plan that was anticipated during the term of this agreement.”

The New York Yankees and Boston Red Sox play MLB’s first games in Europe this weekend at London’s Olympic Stadium, the home of the Premier League soccer club West Ham. The Chicago Cubs and St. Louis Cardinals are to play at the same venue next June.

“I would like to have sustained play in Europe,” Manfred said. “I’m glad we’re coming back next year. I’d like to be back after that. But I am interested in having play in other cities in Europe.”

Manfred would not identify which cities interest him.

“We’re really at a very preliminary point. They key thing with any city is the facility,” he said. “A lot of people will tell you they can build a ballpark. Until you get on the ground and figure whether a particular facility can be configured for baseball, it’s just premature to get into other cities.”

Manfred said 70 percent of the tickets for the YankeesRed Sox games were sold in Britain and 30 percent in the US Red Sox season ticket holders purchased an average of 5,831 seats per game and Yankees buyers 4,752 during the presale.

“We’re trying to bring baseball to the UK, so that 70 percent is important to us,” he said. “That 30 percent is our most loyal, devoted, interested fan base, and the fact

L

BusinessMirror

By Gregory Katz The Associated Press

ONDON—America’s national pastime made a positive impression on British fans the first time they got to see the game up close and personal on British soil.

That may have been helped by a warm, picture-perfect day in often overcast London— baseball weather at its best, played on a midsummer’s eve with sunlight that seemed to never fade—and by a slugfest that, to say the least, emphasized power over precision pitching.

Things American fans take for granted, like standing for the national anthem, or joshing rival fans without getting overly crude, struck many Brits in London Stadium as a refreshing change.

“It’s brilliant, it’s amazing, it’s so American as well,” said Jack Lockwood, a 23-year-old who pitches and plays catcher in an amateur baseball league in the city of Sheffield. “I’ve been to hundreds of football [soccer] games and it’s just such a different atmosphere. I just like the American positivity.”

Lockwood spent about six hours on a train to get to and from London for the game, but he considered the trip well worth it, even though his favorite team—the Los Angeles Dodgers—wasn’t playing.

He said it would be impossible to have fans from two rival English soccer teams sit in the same stands— intermingled as New York Yankees and Boston Red Sox fans were at Saturday’s game—without violent scenes.

“You put two rival football teams’ fans in the same stands, you’ll get a fight,” he said. “In baseball, you can put the fans together and you can have a laugh with anyone.”

There were some British touches at the game, like the roaming vendors selling Pimm’s cocktails and gin and tonics, but the focus was generally on typical American ballpark fare: hot dogs, nachos, burgers and beer. There were even supersized hot dogs, checking in at 2 feet long.

“It’s the way the Americans do sports,” said pleased British fan Stuart Graham, 45. “The way they have the spectator in mind. You know you’re sitting there and the man comes around with your beer and your hot dogs, and you can relax and enjoy the game. It’s really very different to what we’re used to.”

He and Ian Muggridge bought the tickets months ago, spurred in part by the storied Red Sox-Yankees rivalry, which promised to bring top talent to the British capital.

“Two big heavyweights of US baseball, sort of like Manchester United playing Liverpool in the UK,” he said, referring to British soccer rivals. “Great spectacle to come and see.”

He did find one disappointment to baseball in Britain: The hot dogs weren’t as good as the ones he’d enjoyed at an American park.

Muggridge appreciated the mood in the park, with the playing of the US and British national anthems before the game.

“I like the fact that it’s got quite a patriotic feel about it,” he said. “You don’t often get that in British sports. We tend to avoid that, whereas in America you just put it out there.”

While many British fans only had to jump a Tube train to get to the park, thousands of American fans flew across the Atlantic at considerable expenses to catch the historic games.

This bunch included Yankees fan Danielle McCauley of Clifton, New Jersey, who built a weeklong British holiday around Saturday’s game.

“It’s been fun, the whole thing has been really cool,” she said, although she found the crowd far less raucous than those she had been part of in Yankees Stadium and Fenway Park. Call it British reserve.

“It’s quiet,” she said. “It’s the quietest sporting event I’ve ever been to.”

Prince Harry, Meghan provide London baseball royal launch

COMMISSIONER Rob Manfred wants the league to be aggressive overseas. AP

that those people want to travel either from New York or Boston to see a Yankee-Red Sox game, it’s not bad news for us, either.”

MLB hopes the games in London grow European fan engagement and player development.

“We have 20 people from Europe under contract with major league organizations, We’d like to see that number grow,” he said, “Obviously when you have a European player, a player from a particular country making his mark in the major leagues, it drives interest among the people in that country, and that’s really important for us.”

The National Football League (NFL) has played regular-season games annually in London since 2007, and the National Basketball Association since 2011. The National Hockey League opened its 2007-08 season at London’s O2 Arena but has not returned.

“Playing in Europe presents some challenges for us that the NFL doesn’t have,” Manfred said. “It’s a lot easier for them to play in a soccer/football stadium, virtually impossible for us. So we do have additional challenges.” AP

PRINCE HARRY and Duchess of Sussex Meghan meet the New York Yankees. AP

AMERICAN POSITIVITY Things American fans take for granted, like standing for the national anthem, or joshing rival fans without getting overly crude, struck many Brits in London Stadium as a refreshing change.

CHARACTERS, including (from left) King Henry VIII, the Loch Ness monster and Winston Churchill, participate in a mascot race during the Boston Red Sox-New York Yankees game. AP

L

ONDON—Major league baseball’s first game in Europe received a royal launch.

Prince Harry and wife Meghan, the Duchess of Sussex, took part in the ceremonial first pitch before the New York Yankees played the Boston Red Sox. The couple left monthold son Archie home as Meghan made one of her few public appearances since giving birth.

They strolled to the mound at London Stadium along with 10 participants in the Invictus Games, an international project started by Harry to give wounded military men and women a chance to compete.

Harry did not address the crowd—or risk throwing the first pitch and having it land in the dirt. He instead ceded honors to Invictus veterans, who performed credibly.

Meghan wore a simple black dress and skipped the spiky heels she sometimes favors for her walk on the infield dirt (brought from the US) and artificial turf (from France.) Harry wore black slacks and a matching shirt.

They chatted with pitchers CC Sabathia of the Yankees and Chris Sale of the Red Sox during the ceremony.

Harry has played polo in public many times and flown a helicopter with British forces in Afghanistan. He has also hiked in the Arctic with wounded veterans. But Saturday marked his first public appearance at a major league baseball game.

The couple plan to resume a full-scale royal schedule in about four months with a trip to South Africa that will mark Archie’s debut on the international stage. Harry will continue on his own to other African countries. The date and itinerary have not been set.

Harry and brother Prince William have taken increasingly visible public roles in recent years as their grandmother, 93-year-old Queen Elizabeth II, eases her schedule and refrains from long flights. AP

D

God of majesty & mystery

EAR God, in Christ You dwell with us. We humbly pray: Bless Your people with peace, oh God. Gift pastors, deacons and parishioners with a spirit of openness in the midst of transition or change. Lead refugees, immigrants and migrants to find places of safety and welcome. Give courage and strength to parents and guardians who face difficult decisions for the well-being of their children. May God empower all creation to sing with praise to the Lord, who brings all things together in love, by the power of the Holy Spirit. 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

From Russia with love M

OSCOW’S visual metonyms— the Red Square and Saint Basil’s Cathedral—served as the captivating backdrop for Michael Cinco’s “The Impalpable Dream of Imperial Russia” collection.

The beautiful sight at the postcard-perfect setting was a guerrilla shoot conceptualized

by Cinco. Red Guards were no longer around, thankfully, though the police were none too pleased. And the weather was not cooperative either.

COUTURE AT THE RED SQUARE INSTEAD of intercontinental ballistic missiles rolling down the cobblestones at Red Square, couture of world-class quality greeted tourists and Muscovites alike: a long-sleeved beaded short dress with ruffle details on shoulder, a bejeweled top with feather skirt, menswear in suiting wool and layered short skirt in electric pleats with beaded bodice.

“I asked one of my male models, Sasha, if I could shoot at Red Square. He helped me to contact everyone—the photographer, models, and the hair and makeup team,” shared Cinco over Facebook Messenger.

“When we went out from our hotel at 9 am, there was heavy rain so we had to stay in the car for an hour. When the rain stopped, we quickly ran to Red Square and shot there.

But we were chased by the police, so we had to transfer to another place, the State Historical Museum, and the rain came again and so did the police!”

Cinco was in the Russian capital to do a show. “I was invited by Luiza Ave, a producer and one of the board of directors for Arab Fashion Week in Dubai. She is the producer of Al Arabia Fashion Days in Moscow, a threeday fashion festival introducing Russian and Arab-based international designers to the Russian market,” he said.

The show was held at the Safisa Palace on June 11. “I was invited and decided to join the festival because I already have VIP clients and

lots of brides from Russia,” said the Dubaibased, Catbalogan-born couturier. “Russian women have almost the same taste as the Arab women. They like expensive, detailed and opulent couture gowns.”

The four looks he chose for the lightningquick editorial were in tulle, lace and diaphanous fabrics in shades of gray and lilac.

The sedate pastel palette stood in stunning contrast to the vivid colors of the onion domes of Saint Basil’s Cathedral, a medieval Russian Orthodox edifice built in the time of Ivan the Terrible (1555-1561), said to be constructed in the shape of bonfire flames rising to the heavens.

The same set of fierce and fearless models—Alex, Anastasia, Angelina and Evgenia—also took turns posing in front of the State Historical Museum, built in pseudoRussian style in the 1870s, its red bricks setting off Cinco’s creations.

HIGH FASHION AT BALLET PHILIPPINES’S 50th YEAR CINCO has always been fascinated with Russia and its dramatic history. In 2010, he unleashed his Impalpable Russia collection for Bench Uncut. For Philippine Fashion Week Holiday 2013, he unveiled his Impalpable Dream of Russia collection. This year, he will showcase another Russian-inspired suite for the 50th anniversary of the Cultural Center of the Philippines (CCP) and its resident dance company, Ballet Philippines (BP).

“In my previous collections, I was inspired by the Romanovs, the matryoshka dolls, the czarinas and a little bit of Swan Lake,” Cinco explained. “But this time, I am focused on the fairy tale of Odette and Odile in Swan Lake.

My collection will be the continuation of my collection in Moscow.”

To immerse himself further with his inspiration, Cinco visited the Bolshoi Theater, the sight of the first staging of Pyotr Ilyich Tchaikovsky’s Swan Lake in 1877.

“The dinner show is being produced by [BP President, CCP Chairman and Miss Universe 1973] Margie Moran for the benefit of Ballet Philippines,” Cinco said. “It will be on September 29 at the Marriott Grand Ballroom at Resorts World Manila.” n

PHOTOGRAPHY: ALENA ROMANOVA HAIR: EGOR MOLODKIN MAKEUP: SABINA MAKILI FOR REVLON RUSSIA MODELS: ALEX, ANASTASIA, ANGELINA,

EVGENIA

ALL ACCESS: THE KINGS & QUEEN OF HEARTS D2

Monday, July 1, 2019

D1

D2

Monday, July 1, 2019

Style

BusinessMirror

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Liv Tyler, 42; Missy Elliott, 48; Pamela Anderson, 52; Dan Aykroyd, 67.

HAPPY BIRTHDAY: You’ll have plenty of options this year. Look at all the underlying factors, and let your imagination run wild. You’ll come up with a plan that will help you use your best attributes to achieve your dreams, hopes and wishes. Let others do as they please, and you will alleviate meddling or interference.

Make smart decisions, and enjoy the ride. Your lucky numbers are 9, 17, 23, 27, 31, 34, 42.

a

ARIES (March 21-April 19): Use your intuition to avoid making a poor decision. Having a clear view of what’s going on around you will help you navigate your way through any setback or opposition you face. Trust in your ability to get things done. HHHH

Fendi, Armani close Milan Fashion Week in fresh venues

M

ILAN—Milan mainstays Fendi and Armani close out four days of menswear previews on Monday, capping a lighter-than-usual program with some of the Italian fashion world’s top labels altering their show rhythms.

Both houses chose special venues, away from their usual showroom locations. Fendi invited fashionistas to a garden picnic, setting up wicker chairs along a gravel park pathway and even providing straw picnic baskets with a brioche, Fendibranded baby bananas and a ceramic cup filled with coffee, green tea, juice or water by roving waiters.

Giorgio Armani was showed in his historic headquarters in the center of the city for the first time in nearly two decades, closing the menswear calendar.

FENDI’S GARDEN STROLL OSCAR-NOMINATED film director Luca Guadagnino continued his longtime Fendi collaboration by staging its Spring/Summer 2020 collection, and the Italian director recreated the sultry, summery mood from his hit film Call Me

By Your Name. Rather than the usual indoor runway show, models strolled along a forested path in Milan’s Villa Reale to preview a collection that blended neatly into the foliage with earthy greens, beige and browns.

Creative director Silvia Venturini Fendi said the collection

was a return to simpler things, like caring for a garden.

Models carried with them Fendi-clad watering cans, coveralls, gardening gloves and bags that had elements of a gardener’s tool bag. The Guadagnino collaboration extended also onto the looks themselves, with botanic prints that he created while on the set of the 2018 film Suspiria, appearing on flowing kaftans—which show notes say are a reference to Guadagnino’s childhood in Ethiopia—as well as on light outerwear, as linings in mesh Fendi Peekaboo bags and on nylon tote bags.

Fendi, who suffered the loss of longtime womenswear designer Karl Lagerfeld in January after five decades with the Rome-based family-run fashion house, said the sense of wonder that comes with fashion is what keeps her going.

“It is work that allows you to keep reinventing yourself.

And something that I learned from Karl is never to look back at what has already been done, what is interesting is only what you have not done. Therefore, as soon as I finish this collection, thoughts turn to the next.”

PALATIAL ARMANI GIORGIO ARMANI took the fashion crowd home for an intimate show in a 17th-century courtyard of a former noble residence at the heart of his former headquarters.

The central location—just steps from Armani’s hotel

and a clutch of brand flagship stores—led to some traffic tie-ups as curious onlookers snapped photos for the arrival of VIP guests Samuel L. Jackson, Aleksander Skarsgard and Richard Madden, who played Robb Stark in Game of Thrones.

Models took a slow, deliberate pace past the paired Tuscan columns along the courtyard perimeter covered in greenery, allowing ample time to take in the elegantly tailored looks. A vest that closed asymmetrically with a geometric cut was a centerpiece garment, worn in soft velvet under a jacket or shirtless to show off toned biceps.

Soft jackets had new rounded lapel that contrasted with the angular vest. Looser linen trousers with button flies tapered harmoniously. Oversized silky shirts had a cape-like effect—and one bore the Giorgio Armani signature as a vertical print. Summer sweater dressing included comfortably velveteen trousers. The men accessorized with a red beaded and sequin brooch, a neckerchief tied smartly around the neck and aviator sunglasses. Travel bags underlined the carefree summer mood.

A smattering of women’s looks showed the duality—from a sleek suit with a Nehru collar and satiny trouser to a cropped double breasted jacket with loose trousers, both echoing the masculine counterpart looks.

Armani basked in applause in the center of the courtyard, as the models lined up behind him. AP

b

TAURUS (April 20-May 20): A change will perk you up. Take a course or visit a place you’ve never been. Interacting with new people will be thought-provoking. Consider the changes you want to make at home and to your lifestyle. HHH

c

GEMINI (May 21-June 20): Exaggeration will play a role in the way situations unfold. Stick to the truth, and question anyone who tells you something that seems absurd. Refuse to let your emotions tempt you to do or get involved in something you shouldn’t. HHH

d

CANCER (June 21-July 22): Take more time to listen to and understand what others want. Once you have a clear picture of what’s expected of you, it will be much easier to please others as well as to satisfy yourself. Size up situations, and take action. HHH

e

LEO (July 23-Aug. 22): Don’t act in haste because someone else makes an unexpected change. Sit and observe for a moment to see how well it turns out before you put yourself in jeopardy. An offer isn’t always an opportunity.

Follow information back to its source. HHHH

f

VIRGO (Aug. 23-Sept. 22): Keep moving forward, even if someone is being critical or overreacting. Look at a challenge as a learning experience, and do your best to be practical as well as innovative. Listen to your inner voice, not what someone tells you. HH

g

LIBRA (Sept. 23-Oct. 22): Avoid confrontation.

Your energy is best spent doing things that will help you get ahead. Checking out educational pursuits, traveling and interacting with people who can shed light on emotional situations, beliefs and customs are favored. Romance is in the stars. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Travel mentally or physically in order to discover how prepared you are to engage in change.

Don’t get angry with someone who is heading in a different direction; offer support, and expect the same in return. Growth is essential to finding success. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Don’t make a change that will cost you. Reduce debt before you take on more. Relationships and romance don’t have to cost a lot. Plan a walk in the park with someone special, sit on a bench and make plans.

HHH

j

CAPRICORN (Dec. 22-Jan. 19): Be smart with your money. Refuse to let anyone talk you into something that has a risk factor. Stick close to home, and stay near the people you know you can trust.

Change is overrated; live with what you’ve got. HHH

Old-world craftsmanship meets next-generation technology A WORLD-LEADING footwear brand, ECCO is back in the country as the brand is now available through a shop-in-shop concept at The SM Store Makati and Mall of Asia. Combining style and comfort, the brand has built its success on quality and innovative technology.

ECCO was founded in 1963 in Bredebro, Denmark, by Karl Toosbuy and his wife Birte.

Today, its products are sold in 87 countries at 2,989 ECCO shops and shop-in-shops, and a total of 15,000 sales points

around the world. The company is family-owned and the workplace has 18,500 employees.

True passion is essential to making great shoes and at ECCO, they are passionate shoemakers. Building its success on quality and innovative technology, it is one of the few major shoe manufacturers in the world to own and manage every step of the shoemaking process. It makes its own leather at its own tanneries and produce shoes at its own factories.

Design, development, production and retail, ECCO takes

responsibility all the way.

Nature, and its many colors, tones, shapes and textures have always been a driving force at ECCO. Like nature all around us, it is the ongoing development of its premium leather uppers and specialized soles that keep ECCO in continual natural motion. When old-world craftsmanship meets next-generation technology, innovation occurs. It is a guiding principle, a brand promise and the experience ECCO offers in every shoe.

k

AQUARIUS (Jan. 20-Feb. 18): Take on a mental or physical challenge that will get your heart beating and your mind racing.

Stimulation will help you realize that you’re doing OK, and that the change someone is pushing you to make isn’t necessary. HHH

l

PISCES (Feb. 19-March 20): Keep your emotions under control, regardless of what others do. Your time and energy should be put to good use, not arguing with someone who is trying to talk you into something you shouldn’t do. HH BIRTHDAY BABY: You are courageous, imaginative and entertaining.

You are enthusiastic and kindhearted.

‘siteseeing in France’ BY SARA NIES AND LYNN LEMPEL The Universal Crossword/Edited by David Steinberg

ACROSS 1 Tidy 5 Group of eight 10 Secretly e-mails, for short 14 Prod 15 Fern’s leaf 16 Obama’s birthplace 17 Satellite broadcasts in a French city in Brittany?

19 Cyclops, Wolverine and Storm 20 Pledge drive bag 21 Sulks 22 Switchboard worker in a French city in the Loire Valley?

28 Photographer Diane 29 Scribbles’ spots 32 Typical high-schooler 33 Less than obtuse 34 Discomfort for a princess 35 “Thin” or “hot” follower 36 Ouster 38 Barn bale 39 Nutrition fig.

40 Informed 41 Tiny sweater?

2 Picnic competition 4 44 One searching for ore 45 Starting acts in a French city on the Cote d’Azur?

48 Mickey and Donald 50 Iron alternative 51 Numbered work 52 More than half the adults in a French city near Belgium?

58 Funny Fey 59 To date 60 Come to 61 Gels 62 Makes sharper 63 More than want DOWN 1 Worn-down pencil 2 Goof 3 What birthday candles represent 4 Dress rehearsal 5 “We’re ___ see the Wizard...”

6 Move stealthily 7 Ballet pivot 8 Not continue 9 QB’s goals

0 Cereal buyer’s proof of purchase 1 11 Mobile photographer’s convenience 12 Enjoy some gum 13 Tans 18 Throw 21 Superman’s metal 22 Natives of the Volga region 23 Frozen potato company 24 A driver may have one 25 Concert bonuses 26 Fire up 27 Enthusiastic lead-in to “girl” 30 More precious 31 Mystery writer who created Wimsey 33 Briskly, to Shakespeare 36 Fixes, as a sock 37 Actor McGregor 41 Establish precisely 43 Toto’s home state 44 Russian Blue’s call 46 Big-eyed baby 47 Authors of verse 48 Young ones 49 Early Ron Howard role 52 Something to practice

3 Suffix that means “or so” 5 54 Caustic soap ingredient 55 Sallie ___ 56 Barely make, with “out” 57 ___ Stark, patriarch on Game of Thrones

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

The Kings & Queen of Hearts

A

S one of the world’s most influential celebrities, Oprah Winfrey has shared many priceless quotes that continue to inspire. This one for instance: “I don’t think you ever stop giving. I think it is an ongoing process.

And it’s not just being able to write a check. It’s being able to touch somebody’s life.”

Just like Winfrey, celebrity businessman RS Francisco believes that true happiness is derived by making others happy. It is for this reason that he and his business partner and friend Sam Versoza created Frontrow Cares, an offshoot to their multimillion purely Philippine-owned company Frontrow Enterprise, which was established to give people the chance to have a better life.

“I remember back in 2013 when we had an extra P1 million from all our product sales, then a supertyphoon came and we saw a lot of our brothers and sisters suffering. Sam and I decided that instead of having a Christmas party or building an office, lets just donate the money to help more people,” Francisco shared.

Both gentlemen admitted experiencing this very good feeling, a priceless kind of joy when they let go of the hard-earned money for the good of those who needed it most after the devastation of the typhoon.

And since then, they haven’t stopped implementing projects that would raise funds for the needy, attesting they will continue to rise and prosper as an organization by lifting others.

Last year, Francisco produced and played the lead character in the much talked-about restaging of the play M. Butterfly, and proceeds from all the shows benefited charitable groups, academic institutions and sociocultural organizations.

Recently, Francisco and Versoza teamed up with reigning Miss Universe Catriona Gray and gave smiles to the beneficiaries of these three organizations: Love Yourself, Young Focus and Hope for Change.

Francisco, who’s still grieving over the recent loss of his dad, told us, “We give not because we have a lot but because I know personally how it feels to have nothing.”

For her part, the very eloquent Gray gave her definition of the art of giving: “You could be the most successful person in the world, but if you are not giving back, there’s something that is still unfulfilled.”

She added, “I am so fulfilled that we have really transformed the aspect of pageantry where charity is now at the forefront, especially in the Philippines

DEREK RAMSAY and Andrea Torres

ELBA SAYS RACE TALK AROUND BOND CASTING DISAPPOINTING

LONDON—Even though Idris Elba isn’t trying to become the next James Bond, he’s disheartened that some people don’t think he should be considered for the spy role because he’s black.

The British actor says in the August issue of Vanity Fair that it’s frustrating that there are people who say “‘It can’t be.’ And it really turns out to be the color of my skin.”

Some have speculated that the Luther star would make the perfect Bond. Elba says although Bond is a coveted, beloved character that he would be fascinated to play, he doesn’t need to put himself in the position of questioning whether a stint as Bond did or didn’t work “because of the color of my skin.”

Elba stars in Fast & Furious Presents: Hobbs & Shaw due in theaters in August. AP

Elton John blasts Putin for saying liberalism is ‘obsolete’

where we are such avid lovers of pageants. Now, charity is becoming synonymous with the brand of pageantry, and I feel very fulfilled that I was a part of doing that. I’m proud to be a part of the Frontrow family, a company that really walks the talk and really embodies what I really feel passionate about, which is really giving back to the community. When you’re blessed, you have the responsibility to pass on your blessings to others and that is exactly what Frontrow Cares is doing.”

Versoza, who sits as CEO of Frontrow, said: “I’d like to believe that it is human nature to help people especially when you see someone in need—what more if you are blessed and you have so much more to give. Our organization aims to constantly pay it forward by reaching out to as many institutions that help improve the living conditions of those who are less privileged.”

To the many who have benefited from the big and small acts of giving of Frontrow Cares, and to those who continue to be inspired by the random acts of their kindness, RS Francisco, Sam Versoza and Catriona Gray will remain their kings and queen of hearts.

As what Oprah Winfrey has affirmed: “To move forward, you have to give back.” n

THE cast of The Better Woman with Director Mark Sicat de la Cruz (fourth from left).

Derek Ramsay returns to prime-time TV AFTER being mostly missing in action on the big and small screens for nearly a year, award-winning heartthrob Derek Ramsay makes his big return tonight, July 1, as GMA unveils a steamy and compelling love story on its prime-time block via The Better Woman.

The original drama introduces the much-awaited team up of two of the network’s hottest stars—the daring Derek Ramsay as Andrew de Villa, and the versatile Andrea Torres as Jasmine de Villa and Juliet Santos-de Villa a.k.a Elaine Reyes.

This is Derek’s first soap after signing with GMA. After months of teasing about the project, he is looking forward to everyone finally watching what they’ve been working on. “I’m really excited for this project. I hope all the Kapuso viewers will enjoy our show. It’s been really tough doing it but it’s definitely worth it,” he said.

Andrea, meanwhile, is happy with

Monday, July 1, 2019

everyone’s warm reception of their tandem. “Challenging at kakaiba talaga ang role ko sa soap, but I’m grateful na si Derek ang ka-partner ko dahil magaan siyang katrabaho at mabilis kaming naging kumportable sa isa’t isa,” she shared.

In the prime-time drama, happily married couple Andrew and Jasmine live and own a surf resort in La Union.

Their seemingly perfect life crumbles when Andrew flies to Manila for a business trip.

He crosses path with Jasmine’s long-lost twin sister Juliet, a.k.a Elaine, who works as an exotic pole dancer. When Juliet reconciles with her estranged biological family and resides with her sister, a forbidden love affair between her and Andrew ensues behind Jasmine’s back. Who is more deserving to be called the better woman — the prim Jasmine or the seductive Juliet? Who is worthier of Andrew’s love?

Also starring in the series is awardwinning Jaclyn Jose as Jasmine and Juliet’s devoted mother who is always forgiving of Juliet’s wrongdoings; together with Ina Feleo as Andrew’s younger sister who is a single mother; Marco Alcaraz as Andrew’s well-off business partner; Ashley Rivera as Juliet’s friend and housemate; Paolo Paraiso as Andrew’s close friend who secretly desires Juliet; and Francis Makil-Ignacio as the estranged cousin of Erlinda who knows her secret.

The show’s creative team is composed of Creative Director Aloy Adlawan, and concept creator and headwriter Angeli Delgado. This original series is produced by the GMA Entertainment Group, headed

by Senior Vice President Lilybeth G. Rasonable. Under the helm of esteemed Director Mark Sicat de la Cruz, The Better Woman airs weeknights after Sahaya.

RS FRANCISCO (from left), Miss Universe Catriona Gray and Sam Versoza

NEW YORK—Elton John on Friday called out Russian President Vladimir Putin for saying that liberalism is “obsolete” and conflicts with the “overwhelming majority” in many countries.

In a story published by the Financial Times newspaper , Putin said “the liberal idea has become obsolete. It has come into conflict with the interests of the overwhelming majority of the population.”

John said in a statement released on Friday that he disagrees with Putin’s “view that pursuing policies that embrace multicultural and sexual diversity are obsolete in our societies.”

Putin also said Russia has “no problem with LGBT persons...let everyone be happy” in the interview.

John called Putin’s words hypocritical since a Russian distributor censored LGBTQ-related scenes from Rocketman, the film based on John’s life and career. AP

D3

D4

Monday, July 1, 2019

Style

www.businessmirror.com.ph

DR. Samuel Eric Yapjuangco of The Icon Clinic

The power of transformation

P

LASTIC surgeon Dr. Samuel Eric Yapjuangco of Icon Clinic is all about dramatic transformations and the power it brings.

He is the doctor who transformed Marlou Arizala into Xander Ford via a five-hour process that included a rhinoplasty and chin augmentation. Aside from the two procedures, Arizala also underwent cosmetic procedures such as Fraxel and Revlite.

Rhinoplasty, by the way, is the most requested procedure by Yapjuangco’s patients, who range in age from millennials (those in their 20s and 30s) to those in their 60s and 70s.

“The second most requested procedure is breast augmentation because as Asians, many Filipino women are flat-chested, “ said Yapjuangco. For rhinoplasty, the “pegs” have changed. Yapjuangco said patients would come to him asking to have the nose of either Julia Montes, Heart Evangelista, Maja Salvador or Marian Rivera.

“These days, they want the ski slope noses of Korean stars. They would come bringing pictures. Honestly though, the ski slope nose is not possible if you were born with a bulbous nose.” The whole picture, or how the new nose will work with the rest of the face, also matters.

As for breast augmentation, the most common request is a full Cup C. But how big a woman can go depends on the tightness of her skin. Obviously, someone with very tight skin can’t go two sizes up.

Another commonly requested procedure is liposuction.

“I’d like to clarify one thing though.

Liposuction is not a weight loss program. If you want to lose weight, you go on diet and exercise,” said Yapjuangco.

Liposuction, he explained, is for addressing problem areas like the arms and love handles. It is not for people with high BMI. “Where a person becomes fat, like the arms or the hips, is unfortunately a matter of genetics,” said Yapjuangco.

Also quite popular is the Brazilian Butt Lift or gluteoplasty, which uses fat transfer to enhance the buttocks.

According to www.theiconclinic.com, Yapjuangco is a board-certified plastic surgeon, a diplomate of the Philippine Board of Plastic Surgery and an active fellow of the Philippine Association of Plastic, Reconstructive and Aesthetic Surgeons (Papras), the only society recognized by both the Philippine Medical Association and the Philippine College of Surgeons to practice the field of plastic surgery in the country.

“He completed his Plastic Surgery training under the Consortium I Program of the Papras after finishing his General Surgery training at the Makati Medical Center, one of the premier private hospitals in the country and JCI-accredited. He graduated with a Bachelor of Medicine from the University of the East Ramon Magsaysay Memorial Medical Center after finishing Pre-Med with a degree in Medical Technology from the University of Santo Tomas. Well-versed in the traditional techniques, he is also adept in new and evolving techniques in aesthetic surgery. He is known for being approachable and very ‘hands-on’ in the care of his patients, seeing to it that their surgical options are clearly explained and well understood. He is personally involved throughout the process, from preoperative preparation to postoperative care and beyond,” according to the web site.

Yapjuangco and The Icon Clinic will also take part in the transformation of a new Xander Ford, with the search being undertaken by Arizala’s management company. n

New fragrance for men from Cartier FINDING one’s wings, giving flight to one’s inner strengths, at once creative and confident...so imagines by famous Cartier perfumer Mathilde Laurent of the brand’s new fragrance for men, L’Envol de Cartier.

The scent defies the laws of gravity. The dizzying ascension is instantaneous, propelled by the sap of Gaiac wood.

The impact is ethereal, like an elixir of the gods, illuminated by the

protective virtues of ambrosia.

The life-affirming spirit of L’Envol de Cartier is encapsulated in its metallic, copper-hued glass bottle. True to the stylistic and creative legacy of Cartier, the guilloché cap recalls the victorious path traced by aviator Alberto Santos-Dumont.

Like that high-flying legend of the Maison, L’Envol de Cartier gives flight, awakening the freedom that slumbers within us all.

In the Philippines, Cartier is exclusively distributed by Stores Specialists Inc., with stores in Greenbelt 4, and Shangri-La Plaza.

BusinessMirror

www.businessmirror.com.ph

Monday, July 1, 2019 E1

When we’re reminded of death at work

By Zhenyu Yuan, Lisa E. Baranik & Robert R. Sinclair

M

There may be two divergent ways people process mortality cues. Those prone to “death anxiety” tend to experience aversive emotions such as fear and panic, whereas those who engage in “death reflection” focus on the ways they can find meaning in their lives and enter into a more

positive mindset.

Our research has focused on understanding the consequences of these different responses at work. Dealing with death takes a toll on employee well-being and creates challenges for both businesses and society at large.

Employees facing mortality cues

WWW.FREEPIK.COM

ANY occupations involve exposure to mortality.

Critical-care nurses and emergency medical technicians must take care of dying patients.

Firefighters and police find themselves in danger when trying to save lives.

should not be left to suffer the negative consequences associated with death anxiety. Through anot her pat h— deat h ref lec-

tion—they can be happier, more focused, more engaged and more productive.

Organizations and manag-

ers can play an important role: Acknowledge that dealing with death is stressful, and implement suppor t ive human-resources practices and policies. Newcomers and young people may be the most vulnerable to death anxiety because of their inexperience.

Therefore, organizational onboarding should include deathrelated educationa l modu les that teach participants how to cope with the stress. In the recruitment process, realistic job previews should include honest descriptions of death-related experiences on the job.

Systemic interventions, such as death-related training, should also be put into place to help people reduce death anxiety and promote death reflection. Employees themselves should be actively involved in the design and implementation of these

interventions, so that they can confront their own feelings about death and find meaningful ways to develop a growth mindset around it.

Managers can serve as effective role models, using their own behavior to shape the ways their subordinates process mortality cues. When they avoid talking about death, employees follow suit and shy away from the topic.

If they instead reflect on death and ways to find meaning, employees will be inspired to do the same and get more engaged in the pursuit of their calling.

Zhenyu Yuan is an assistant professor at the University of Illinois at Chicago. Lisa E. Baranik is an assistant professor at the University at Albany, SUNY. Robert R. Sinclair is a professor at Clemson University.

Platforms and blockchain Investors reward companies that highlight digital initiatives will transform logistics

By Sangeet Paul Choudary, Marshall W. Van Alstyne & Geoffrey G. Parker

W

ITH increasing digit i zat ion, pl at for mbased business models will connect new players, wash away inefficient old ones and harness the cloud. At least three factors are driving the industry move to platforms: New infrastructure and technology, richer and more visible logistics data and relentless pressure to reduce costs.

Consider how global shipping giant Maersk and IBM have partnered to launch TradeLens, a blockchain-based platform for managing global shipments involving multiple stakeholders. Events across the shipping life cycle— credit checks, contract signing, arrival at port and payment—can be recorded publicly. On TradeLens, event data and document information are written on the blockchain, which creates a single source of truth that all can see.

Enterprise cloud technologies are also increasing coordination across the supply chain. As more companies move their digital processes and workflows to the cloud, they can share data with one another more easily through application programming interfaces, or APIs, software that allows two applications to talk to each other. Using APIs, supplychain events can be aggregated on central platforms that receive data from participating firms’ distributed systems in real time.

Supply chain efficiency can be

continually optimized.

As more fleets, ports, warehouses, and containers become instrumented, the value of these platforms increases via network effects. Value grows in multiple ways. First, greater availability and coordination of fleets, warehouses and containers leads to faster end-to-end shipment and better route optimization. Second, as different types of fleets and warehouses come on board, the scope of use cases that logistics platforms can handle also increases. As an expanding set of warehouses with different specifications join a platform, the platform becomes more valuable to more parties.

As the platform mediates more shipments, it learns which shipping life-cycle events and which actors create more delivery volatility and then uses this learning to hedge and buffer future operations. Finally, creating a platformbased market for idle assets such as transportation and storage capacity allows them to be time-sliced and rented at increasingly finegrained and coordinated intervals.

Finally, decentralized last-mile delivery services are a growing industry that will interface with central logistics platforms and can be expected to do so even more as they become autonomous.

Sangeet Paul Choudary is an entrepreneur-in-residence at INSEAD. Marshall W. Van Alstyne is a professor at Boston University School of Business. Geoffrey G. Parker is a professor at Dartmouth College.

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

By Suraj Srinivasan & Wilbur Chen

D

IGITAL technologies have the potential to transform a wide range of businesses, especially in traditionally nontechnological sectors. Motivated by the breadth of these digital transformations, we’ve done research exploring how frequently they are occurring, what benefits they are creating and what impact they are having on financial performance. We’ve tried to answer three specific questions: First, how extensive is the adoption of digital technologies by nontech firms? We find that firms that are larger and younger, and that hold more cash and spend less on capital expenditures, are also more likely to go digital. Companies with weaker performance

are going digital sooner, perhaps as a possible response to competitive pressures.

Second, what are the benefits of going digital? For one, investors seem to love it. Valuations of firms that go digital are 7 percent to 21 percent higher than those of peers. Moreover, firms that go digital also receive higher valuations on their earnings. Their price-earnings ratio is 3 percent to 9 percent higher, and they receive 30 percent to 90 percent higher returns per dollar of incremental earnings than firms that don’t disclose digital activities.

Third, how are companies faring as they adopt digital technologies? Surprisingly, we find little evidence of immediate improvement in financial performance.

We find positive performance benefits only in terms of asset

turnover (a measure of efficiency of use of assets), which increases by 3 percent to 9 percent over three years relative to peers, following the disclosure of digital activities.

However, we find no change in overall financial performance (measured by return on assets) and significant declines in operating margins and sales growth (lower by 14 percent to 42 percent, and 10 percent to 30 percent, respectively) when digital activities are disclosed. These limited benefits could be due to several factors.

One, the gains from digital activity take a long time to bear fruit and firms have to bear the costs in the interim. Many successful tech firms that undertook large digital investments, like Amazon. com, waited many years to become profitable. Two, competitive forces

may quickly erode the benefits of going digital. For instance, customers may benefit from better products but companies cannot sustain higher prices because of competition. Three, firms may not have the right management team to go digital. It’s imperative to pay attention to having senior managers with the right tech acumen.

Investors are rewarding the early movers even if immediate financial-performance benefits remain elusive. The risky nature of the digital investments highlights the need for companies to keep capital markets better informed, and provide assurance that they have the right managers to execute the digital transformation.

Suraj Srinivasan is a professor at Harvard Business School, where Wilbur Chen is a doctoral student.

Actually, consumers do buy sustainable products

By Tensie Whelan & Randi Kronthal-Sacco

F

OR years, brand managers have groused that while consumers say they intend to buy sustainable products, in a store they don’t actually purchase them.

NYU Stern’s Center for Sustainable Business just completed extensive research into US consumers’ actual purchasing of consumer packaged goods, or CPG, using data contributed by IRI, and found that 5 percent of CPG growth from 2013 to 2018 came

from sustainability-marketed products. Products with a sustainability claim on the packaging accounted for 16.6 percent of the market in 2018, up from 14.3 percent in 2013, and delivered nearly $114 billion in sales, up 29 percent from 2013. Products marketed as sustainable grew 5.6 times faster than those that were not.

What do these findings mean for corporate managers and investors?

CONSUMERS are voting with their dollars—against unsustainable brands. The legacy companies

that will thrive are those that accept this shift and are willing to pivot, such as PepsiCo and Unilever. CPGs that are not making the pivot will lose— Kraft Heinz, whose investors have encouraged a cost-cutting approach that is backfiring, is a case in point.

Given the evidence that consumer tastes are changing, an attitude of “Why mess with a recipe that has worked well over the last 40 years?” is the wrong one to take.

Some of the necessary transformation can be accomplished by reinventing legacy products, as Unilever has shown with its

“sustainable living” brands, now delivering 70 percent of its turnover growth.

Corporate leadership should no longer give brand managers a pass when they claim that there is no demand for sustainable products. And investors should support companies in making the investments needed for the pivot.

Tensie Whelan is a professor at NYU Stern School of Business and founding director of the NYU Stern Center for Sustainable Business, where Randi Kronthal-Sacco is a senior scholar.

Education BusinessMirror

E2 Monday, July 1, 2019

Editor: Efleda P. Campos • news.businessmirror@gmail.com

Shell launches sustainable energy education with young schoolers T

SC rules language subjects are optional in college

By Roderick L. Abad

B

Contributor

@rodrik_28

EING more than a century-old oil player in the domestic market, Pilipinas Shell has come to know the level of understanding of renewable energy of today’s young generation, the heir to its renewed commitment to deliver more sustainable and cleaner power sources to help meet the growing needs at present and in the future.

As part of the 105th anniversary celebration of its operation in the Philippines, the oil giant launched its #MaketheFuture campaign with an out-of the-box event designed for kids at the Mind Museum in Bonifacio Global City, Taguig.

“Everything we are doing today

100 new young leaders join the journey toward Zero Hunger

B

AYER has selected 100 participants, coming from 45 countries, for the fourth edition of the Youth Ag Summit.

The 2019 Summit will take place in Brasília, Brazil, from November 4 to 6, in partnership with Nuffield Brazil.

The Youth Ag Summit, part of the Bayer Agricultural Education Program, brings together young change-makers aged 18 to 25 to tackle the challenges of feeding a growing population by 2050.

For this year’s global summit, each applicant pitched an idea to tackle food insecurity in the context of the UN Sustainable Development Goals (SDGs). Bayer received over 2,800 applications from more than 140 countries. Christine Jodloman, 23, from North Cotabato, Mindanao, will represent the Philippines.

Jodloman, an agriculture and food security advocate, has founded two youth movements, namely PALAY initiative and Food SECURE Philippines. She is dedicated to empowering rural farming communities to be food secure, healthy and business-minded through an Agripreneurship program.

Jodloman shared her excitement: “The Youth Ag Summit is a great platform to learn, meet and collaborate with like-minded peers from all over the world who share the same passion and commitment to advancing agriculture. I am extremely thrilled to represent my home country, the Philippines, and I look forward to how we can contribute to finding solutions and helping feed the planet in a safe and sustainable way.”

Among the 100 delegates are entrepreneurs, farmers, students, plant scientists and economists—to name a few. Their ideas focused on tackling challenges as varied as gender equality, sustainable agriculture, youth education, food waste and climate change.

Despite their varied interests, all are committed to achieving a world without hunger.

“About 800 million people around the world go to bed hungry each night,” said Liam Condon, member of the Board of Management of Bayer AG and head of the Crop Science Division. “The 100 delegates headed to Brazil in November all share a commitment to driving innovation in agriculture, which is vital if we are to both feed the world and ensure healthy ecosystems.”

Rodrigo Santos, head of Crop Science division in Latin America, said, “Latin America has an important role in the challenge of feeding a hungry planet, so we’re very happy to receive these incredible young leaders to discuss such an important topic as food security. I hope Brazil’s thriving agricultural sector inspires our delegates to develop their innovative ideas.”

impacts future generations. It is interesting to see what tomorrow’s decision-makers and leaders know about energy, how they’re affected and what they think must happen to ensure that Shell can help make the future sustainable for them,” said Cesar Romero, country chairman of

Shell companies in the Philippines.

With this gathering of the kids and kids-at-heart, Shell had the chance to instill energy consciousness and education among the youngsters, as well as to encourage them to participate in the discussion on improving and making the future of energy. The young participants were fortunate to be among the first to see the campaign’s video that features inspiring stories of kids who benefit from ongoing programs like Access to Energy, Shell’s program to power off-grid communities using renewable energy.

Joining Romero during the panel discussion were Managing Director of Shell Philippines Exploration BV (SPEx) Don Paulino and Country Health Manager Dr. Rose Rivera.

Each of them shared insights on the various ways that everyone, including kids, use and expend energy, and what Shell does to provide them the energy that they need.

Among those who graced the Kids #MaketheFuture event were children of celebrities like Nathan Linsan-

gan, son of Camille Prats-Yambao; Micaela Pingris, daughter of Danica Sotto-Pingris; and Eia Tan, daughter of Sherilyn Reyes-Tan. Together with other kids from the Trumpets Playshop, The School of Academics and Arts, Eton International School, and children of invited media, they responded to and asked questions during kid-friendly discussions held to jump-start their energy education.

The Shell executives were surprised by smart queries thrown at them by the children. All of them conceded that they didn’t expect to be challenged by the questions coming from attendees at such a young age.

“We really want to empower kids.

They have so much potential to create things, and all we need to do is give them the right resources and opportunities,” Romero said. “By showing them that we can put renewable energy to good use, like powering up communities, we hope to help them realize that they can make the future of energy clean, sustainable and possible for everyone.”

PLDT-Smart fires up Ateneo as PHL’s first ‘Smart 5G campus’

P

LDT wireless arm Smart Communications Inc. has signed a memorandum of understanding (MOU) with the Ateneo de Manila University to partner in the development of next-generation applications and services that will run on Smart’s 5G wireless network.

Under the MOU, PLDT-Smart, together with their technology partner Nokia, will help set up the Ateneo’s Convergent Technologies Center with a 5G lab—enabling the university’s students and tech experts to codevelop practical and relevant solutions.

Among the applications being eyed for development are Internet of Things (IoT) solutions, augmented and virtual reality services, robotics, drones and analytics. To support these research activities, Smart is deploying 5G base stations in the Ateneo campus.

“We’re truly grateful for this gift. More than just a tool, we are excited about the applications, especially as it refers to inclusion, resilience and sustainability. Our technology these days can be a wonderful toolbox, and we believe that it can be a portal to greater things,” said Ateneo President Fr. Jose Ramon T. Villarin, SJ of the partnership.

“Technology should be used to improve the welfare and the lives of the people. It is our most profound hope that the provision of 5G will further enable the students of the Ateneo to create, develop, and explore new ways to continuously uplift our nation,” PLDT-Smart Chairman and CEO Manny V. Pangilinan said during the partnership ceremony.

The launch of 5G at the Ateneo is the third leg in the PLDT Group’s road map of 5G deployment in the Philippines. Late last year, PLDT and Smart set up Smart 5G cities in the Clark Freeport and Special Economic Zone and the Makati City central business district (CBD).

Over the past few months, Smart has been firing up more 5G cell sites in Clark and the Makati CBD, paving the way for piloting 5G solutions in these areas in cooperation with enterprise partners and local government units. More Smart 5G cities will be launched in various areas and campuses in the coming months.

“This partnership is indeed exciting, as we believe that it will work to further accelerate the adoption of 5G in the Philippines—bringing in an influx of business opportunities and al-

lowing a greater number of Filipinos with access to the best of technology,” PLDT-Smart Chief Technology and Information Advisor Joachim Horn said.

SVP and Head of PLDT and Smart Enterprise Business Groups Jovy Hernandez added, “Throughout our years of partnership, Ateneo has always aimed to provide their students with access to the best tools for learning and we are hopeful that this latest development will enhance the capabilities of its students. This will provide us a platform to work together and develop solutions from 5G use cases, which will truly deliver value to the Filipino people.”

With its capability to deliver extremely high speeds coupled with low latency, 5G opens up many possible applications for the IoT and smart cities, as well as smart applications for the retail, transport, manufacturing, logistics and warehousing sectors, as well as intelligent solutions for customer support and smart homes, among others.

Armed with both fixed and wireless infrastructure powered by the country’s most extensive fiber network now at over 221,000 kilometers, PLDT and Smart are best positioned to deploy 5G in the country.

AFreight Cargo college scholars graduate batch

S

COMMUNICATIONS GRADUATES

Wearing the iconic UP sablay (from left) are: Jhea Sison, Anette Guanzon, Suzanne June Perante, Kim Shelly Tan and Hillarie Yee from the UP Baguio College of Communications. The five graduated on June 24, 2019. CEASAR M. PERANTE

IX students who are dependents of overseas Filipino workers (OFWs) recently received their college degrees from FAITH Colleges in Tanauan, Batangas, through AFreight Group’s PAISKOLAR Program.

AFreight Group, the leading doorto-door cargo service to the Philippines and Indonesia, grants full college scholarships to deserving scholars who are dependents of OFWs. Through the PA-ISKOLAR Program which started in 2008, AFreight has already helped 59 deserving students to get their college education, some of them graduating with the highest distinction. The program currently has 13 scholars.

HE Supreme Court has resolutely decided that the Commission on Higher Education’s (CHED) new General Education Curriculum (GEC) is constitutional.

The new GEC has been controversial because Filipino is not a required subject. Some groups have condemned the SC and CHED as “anti-Filipino” and “colonial-minded.” However, that is not a fair accusation. First of all, it is not just Filipino that became optional—also English language subjects. Both of these languages now have dedicated subjects in senior high school, where many of the pre-K to 12 GEC subjects were transferred. Second, Filipino and English will continue to have a presence in college as a medium of instruction. CHED Memorandum Order 20, series of 2013, states that the GEC subjects may be taught in Filipino or English, and the bilingual names of the subjects reflect this.

Rather than force colleges to teach a specific number of units of a specific language, CHED has decided to keep the GEC at its barest minimum and give colleges discretion to create their own language offerings based on the specific needs of their locality.

As announced in an official CHED statement on May 29: “HEIs must now exercise their academic freedom to include innovative reforms in their various curricula that may include language proficiency not just in Filipino but also other Philippine languages, such as Ilocano, Waray, Cebuano, Ilonggo, Pangasinan, Bicolano and Asian languages.”

This flexible approach has a number of advantages.

First, it protects the academic freedom of Higher Education Institutions (HEIs), which is a right enshrined in the Philippine Constitution. The best universities in the world are not dictated by any government what languages they must teach, and certainly are not told how many language units to require their students. Such policies are decided by the universities themselves, which leads to more responsive curricula and graduates of diverse skill sets.

There are examples of HEI’s innovations in the regions that involve programs for local languages in line with the local government programs for education, tourism,

agriculture and governance. Some HEIs in Region 1 for example developed courses in the Iluko language to support teacher training in Mother Tongue Based Multilingual Education (MTB-MLE).

When it comes to medium of instruction, HEIs should, likewise, have the freedom to use a variety of languages whatever suits the context. Filipinos speak many different languages, and individuals vary in their language proficiencies.

Instructors naturally need to adapt to students to deliver the content most effectively, with maximum comprehension. Using the local language in academic discourse would also provide the chance for local scholars to intellectualize the languages in their region.

The reduction of the number of required GEC subjects will most important benefit students and families. Students will spend less time and money on subjects that are not related to their chosen fields.

They will be able to delve deeper into their specializations, expanding their knowledge and skills for employment, whether in academe or elsewhere. They will also have more space for electives, allowing them to explore different interests.

And with fewer hurdles to jump over, they can graduate earlier. The typical duration of UK degree programs, for example, which have no general education requirements, is only three years.

Universities must now take advantage of the power to create their own language programs. Expand beyond the confines of English and Filipino, and offer an array of languages, as one would find in universities in Europe, Japan, Singapore, India, the United Arab Emirates, Russia, the United States and many other countries. Studying Philippine languages will connect us to our roots, cultures, histories, traditions and identities. It will also help develop local media and literature.

Studying foreign languages will, meanwhile, expand opportunities for travel, employment, cross-cultural exchange, diplomacy, business and international education.

Whatever the motivation for taking up a language, the magic word for students is: Choice.

Seminar on how to use parliamentary procedures for effective meetings

I

F you want to have an effective, efficient and systematic conduct of meetings, you must use the proven and globally recognized parliamentary procedures that will define the rules of order on meetings.

One who has mastery of it will have more productive meetings, deliberations, debates and crafting of policies.

This comprehensive training will cover important topics, such as How to Conduct Meetings and Sessions, Rules on Quorum, Order of Business, Debates, Voting Committees and their reports, Rules of Order and Standing Rules and many more. This program will also focus on the different kinds of motions, and resolutions. Attending participants will gain firsthand knowledge from the expert that will provide them distinct superiority in all types of meetings and deliberations. This program is tailored best for profit and nonprofit organizations, deliberative bodies, including National Government Agencies, Local Government Units, GOCCs and anyone who is interested on mastering the parliamentary procedure—which is not taught in any schools.

This program will feature Atty. Amado Formoso Maralit, LLM, MPA, DCL, CEO VI, who is the Chief Parliamentarian of the Philippine Senate. He is an authority that provides expert guidance on all parliamentary matters to senators. He, likewise, lectures and coaches chief executives, chairmen and board directors, leaders in both government and the private sectors on the conduct of meetings, sessions and deliberations. He graduated Magna Cum Laude with the most

prestigious higher law doctorate known as the Doctor of Civil Law at the University of Santo Tomas, Master’s of Public Administration at the University of the Philippines (Diliman) and Masters of Laws at the University City of Manila, Philippines.

CGBP is accredited by the Civil Service Commission. Attendees from the government can earn points for their career advancement and are exempted from the P2,000 limit set by COA when attending training programs conducted by the private sector based on DBM Circular 563 dated April 22, 2016. Registration is open to the general public. Interested participants are encouraged to avail themselves of the early payment savings and group discounts for those three or more attendees. Seats are limited and preregistration is required.

To help the presiding officers, directors, members of the board in officiating committee, board and stockholders’ meetings, the Center for Global Best Practices will host a program entitled “How to Use Parliamentary Procedures for Effective Meetings” on Friday, July 26, 2019, at the Marriott Grand Ballroom, Pasay City. For inquiries, you may call landlines in Manila (+632)842-7148/59 and (+632)556-8968/69, in Baguio (+6374)4232914, and in Cebu (+6332)512-3106 or 07. You may check www.cgbp.org for a complete list of other Best Practices programs, including Best Practices in Business and Government Protocols, Revised Corporation Code of the Philippines, How to Create a Working Board, Best Practices in Strategy Execution, Corporate Governance and more!

Marketing BusinessMirror

www.businessmirror.com.ph

PR Matters

By Bong R. Osorio

Editor: Efleda P. Campos • Monday, July 1, 2019 E3

Ethical PR professionals don’t create or foster gossip

I

F you tell a colleague about a mutual associate undergoing financial woes, you may simply be trying to understand why your troubled friend is not at his best.

From one view, people might misconstrue such an act as gossiping and that you hope the information you shared with your buddy will spread, but from another perspective, some might look at it as a show of concern for a comrade, who is in dire straits, and you are doing it, knowing that the classified information remains secure with you and your receivers.

Gossip is a pursuit that almost everyone partakes in, and the struggle to describe it crops up due to the countless motives for why people get involved in it. Notice, for example, that when you enter a room for a meeting or bump into somebody on the street, you get asked the cursory question: Ano ang balita? (What’s the news?). The query is asking for any gossip you can share, and gossip, after all, is essentially news or vice versa. In gossiping, there is an aspiration, deliberate or not, to damage someone else’s character by spreading stories of ethical breaches, monetary fixes or sexual liaisons. But there is also the simple desire to better understand another person. You may also gossip to make yourself feel better, or superior, silently asking: Why raise myself up actively when I can tear someone down? People engage in this type of gossip daily, even if the authentic stimuli for such actions are sometimes deliberate.

Gossip and rumors are essentially interchangeable, but with the latter being less precise, more wide ranging, more scattered, less personal in content and in the way in which they are distributed. Rumors can graduate to gossip, and gossip can bolster rumors. Gossip, many agree, is specific, and is communicated to carefully selected listeners. It is a form of purposeful sharing about other people.

Gossip can develop into a sensationalized crisis, the perceptual and the bizarre kind. The bizarre kind is disruption caused by largely fictional, but intriguing or titillating stories like the one about a local water company, and how a man fell and drowned in a ventilation chamber of the city’s water system. While it is factual, the scary stories it triggered made it peculiar. And then, of course, there were the snake tales about a mall fitting room and a how a leading fast-food chain supposedly used earthworms in its patties.

The perceptual kind is disturbance caused by news media’s overestimation or exaggerated reporting of an insignificant problem like the stories of alleged product defects or spoilage that are wrongly reported to have caused illness or injury.

Joseph Epstein, author of the book Gossip: The Untrivial Pursuit, sees gossip as one party telling another what a third party doesn’t want known. Today, it has become ubiquitous in public life, and as such, can no longer be considered inconsequential. It has become so persistent and ever-present. An old New York Post columnist portrayed gossip as hearing something you like about someone you don’t. Epstein has a two-pronged view about gossip. While he abhors the scar gossip inflicts on people’s cultures, he persuasively argues that it can dish up any number of meaningful intentions, from the literary to the sociological. He relishes good gossip himself, and believes that it is a critical aspect in regulating behavior and defining membership in a group.

Epstein listed a number concepts on gossip and gossiping, which for sure you can relate with well:

If you’re famous, you’re fair game. That’s the cardinal rule in gossip. As the rumors build up, the effect, even when the details are surprisingly personal, is strangely trivial and unwelcoming, as if the central characters weren’t your fellow travelers, but protagonists in the story of your times.

Gossip can be insignificant or frivolous or worse. Gossiping was once a more refined custom. Today, it has degenerated into a tabloidinfested culture of Internet slurs, and an obsessive focus on the personal lives of public figures. It can be false, too, using the example of high-school boys exaggerating or inventing their sexual exploits.

Gossip is often about sex and sexuality. It may be less today than it once was, considering that people are now more tolerant about all sorts of sexual conduct.

Today, if you’re told that so-and-so actor is gay, it might not give you the shock or the extremely high level of interest compared to 20 to 50 years ago. Perhaps it would be an awfully shocking piece of news to hear, then, when sexual gossip is really of grave concern, and when the element of hypocrisy is prevalent.

Gossip is social intimacy. When one comes to another person with a delightful bit of gossipy news, it is a way of conferring a gift on that person. And it ought to be accepted as a gift, particularly if the motives are pure. It is an intimate act, and you do it because there’s a prevailing kind of friendship before you share a delightful piece of gossip.

Gossip is not an exclusive activity among women. And to say that it’s a woman’s world is a false supposition. In fact, the one realm of equality that you can be assured of is that men, as well as women, are quite interested in gossip.

Gossip is character analysis.

Taking unwelcome personal attention and focusing it elsewhere has an appeal that even Benjamin Franklin who, despite other callings was one of America’s first gossip columnists, recognized two centuries ago. Most people delight in censure when they are not the objects of it, Franklin noted, adding, that if they are offended by my publicity exposing their private vices, I promise they shall have the satisfaction, in a very little time, of their friends and neighbors in the same circumstances.

Gossip is a form of news. And sometimes it is crucial news. If you’re working for a large corporation, for example, it would be very helpful to know that your CEO has a health problem or any issue that may impact on the company’s reputation. In academe, it is advisable to be constantly familiar with the changes that are being made in the university to better serve the communication needs of the institution. In some small corporate bodies, gossip is the only form of news that is available, and to its receivers, it can be of the greatest significance. Even investigative journalism qualifies citing Wilde’s description of the profession as organized gossip.

Gossip sells. This claim is supported by the vast gossip industry with magazines, Internet sites, television shows and newspapers devoted to little else. Media factories stamp out endless cookiecutter celebrities to gossip about them. As a result, it has been said that there are so many famous people now you haven’t heard of.

Gossip works best in a small and tight community. That’s the traditional view, but now, you live in an even smaller town, the Internet, which is extensively accessible and is acknowledged to possess the supremacy to libel and ruin lives and reputations. It is the nesting place

of online gossip. It’s not just another platform for gossip, though. In Prof.

Daniel J. Solove’s words, it is gossip on steroids, which assumes a greater power to capture, possess and flow. Scandalous rumors can fasten themselves to Web-based gossips as they circulate. The ruination of reputation and the disregard of privacy are the two most destructive aspects of gossip, and the Web specializes in both. Tracing information back to an original source becomes even more difficult, and once a piece of gossip is in the public arena, deleting it becomes nearly impossible.

The medium becomes the message.

Gossip is a mixture of so many things. It eludes a fixed or exact definition: verbal abuse, clandestine acts, breakdowns, disgraceful occurrences, duplicities, exposes, depressed affectations, strategic information about bosses, celebrities, religious leaders, politicians or high government officials, forecasts, vilifications, awkward realities, or dangerous relationships whose only worth is that they appeal to the voyeur in us.

Gossip and PR

PEOPLE live and breathe gossip. In

the words of New York newspaper columnist and radio gossip commentator Walter Winchell, “Today’s gossip is tomorrow’s headline. And undoubtedly, that gossip, masquerading as news or vice versa often hurts others. And when it does, it’s like bursting a pillow on a hilltop.

Once the feathers have scattered, it’s impossible to put them back, and the damage is done.”

To excel in PR is to be subtle and to use discretion. Information must be managed discreetly. Ethics also demands that PR professionals do not, in any way, participate in creating or fostering gossip, rumors and fake news. It is critical to fully understand that at the heart of PR is designing and distributing content. Credibility and creativity play a significant role in ensuring the content reaches the right audience, using the right platform.

Here are some basic rules, which worked for many successful PR professionals:

4. Go through short-term pain for long-term gain and do not opt for shortcuts.

5. Avoid derogatory and defamatory language at all time.

6. Carry yourself in a manner that makes people want to trust you.

7. Never be the one who gives out gossip or fake news.

8. Only share information that is in the public domain unless you have an approval.

9. When in doubt, cut it out.

1. Talk less, listen more.

2. Do not give more information than necessary.

3. Verify information before sharing.

We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world's premier organization for PR professionals around the world. Bong R. Osorio is a communications consultant of ABS-CBN Corp., SkyCable, Dentsu-Aegis Network and government projects among others, after retiring as vice president and head of the Corporate Communications Division of ABS-CBN.

Perspective BusinessMirror

E4 Monday, July 1, 2019

www.businessmirror.com.ph

How much power can one image actually have?

THE bodies of Salvadoran migrant Óscar Alberto Martínez Ramírez and his nearly 2-year-old daughter Valeria lie on the bank of the Rio Grande in Matamoros, Mexico, June 24, 2019, after they drowned trying to cross the river to Brownsville, Texas. Martinez’s wife, Tania told Mexican authorities she watched her husband and child disappear in the strong current. AP/JULIA LE DUC

By Nicole Smith Dahmen University of Oregon

W

THE CONVERSATION

HEN the Associated Press published Julia Le Duc’s photograph of a drowned Salvadoran man, Óscar Alberto Martínez Ramírez, and his 23-month old daughter Valeria, it sparked outrage on social media. According to Le Duc, Ramírez had attempted to cross the Rio Grande after realizing he couldn’t present himself to US authorities to request asylum.

But beyond raising awareness via Twitter and Facebook feeds, does an image like this one have the power to sway public opinion or spur politicians to take action?

As journalism and psychology scholars interested in the effects of imagery, we study the ability of jarring photos and videos to move people from complacency to action.

While graphic imagery can have an immediate impact, the window of action—and caring—is smaller than you’d think.

A political catalyst?

PHOTOGRAPHS and videos— through their perceived authenticity—can have an effect on people.

Research suggests that the graphic photo of slain Emmett Till in his open casket served as a “political catalyst” in mobilizing Americans to action in the civil rights movement. Similarly, news images have been credited as playing an important role in ending the Vietnam War. But not all scholars agree. A recent article argued that it was a “myth” that the iconic “napalm girl” photo swayed public opinion

and hastened the end of the Vietnam War.

We must also look to psychology to understand the impacts of emotional news content. Research demonstrates that audiences need an emotional connection—and not merely a “just-the-facts” reporting approach—as “prerequisite for political action” when it comes to appreciating the importance of distant mass suffering. And imagery can trigger this emotional connection by overcoming the psychic numbing that occurs when casualties mount, images blur and lost lives become merely dry statistics.

Images from Syria

IN April 2017, gut-wrenching images seem to have awakened the world to the human atrocities happening in Syria. Following a chemical bomb attack in the town of Khan Sheikhoun, graphic photos and videos documented the horrific effects of the banned nerve agent sarin. Millions bore witness to excruciating human suffering: gasping, choking, writhing and dying. More than 500 people were injured, with at least 86 deaths, in-

THIS picture taken on January 31, 2014, shows residents of the besieged Palestinian camp of Yarmouk, queuing to receive food supplies, in Damascus, Syria. UNRWA VIA AP

Images can alert us to the horrors of violence, mass migration and poverty.

But as we have seen time and again, photographs and news footage of human suffering generally precipitate a short-term emotional reaction, rather than a sustained humanitarian response. cluding 28 children.

The vivid, closeup images of sarin attack victims were resonant enough to break through the complacency of people and politicians accustomed to bad news emerging from the war-torn nation. In President Trump’s response—which included a retaliatory missile strike—he seemed to recognize the value of the Syrian lives depicted in the horrific photos and videos.

“When you kill innocent children,” he said during a news conference, “that crosses many, many

lines, beyond a red line—many, many lines.”

The limits of an image

NONETHELESS, even though the attacks may have briefly heightened US concerns over the wars in Syria, the photographic documentation of the suffering in Syria wasn’t new.

The 2015 photos of a tiny Syrian boy’s lifeless body resting face down in the sand similarly stirred the world’s collective consciousness. Within hours of its release,

the photo had reached 20 million people through Twitter, with many more millions seeing it on the front pages of newspapers the next day.

Afterwards, government restrictions on accepting refugees were loosened while private donations to organizations like the Red Cross spiked dramatically.

A year later haunting images of a young boy in the back of an ambulance, caked in dirt and blood, galvanized the world.

But the emotional and compassionate responses to both pho-

tographs were short-lived. The bombing of civilians in Syria continued. Refugees continued risking their lives to escape the war zone.

Since the publication of Le Duc’s photo of the dead migrants, supportive politicians may feel emboldened to sound the alarm on the plight of Central American migrants. Donations to immigrant aid organizations might briefly spike.

But it seems that a photograph, no matter how emotionally devastating, can only do so much.

Yes, it can create a window of time when we’re motivated to act, and we’ll usually do so if we have effective options to pursue. This could mean a charitable donation at the individual level or, collectively, a surge of political will. However, psychology research from the “arithmetic of compassion” suggests that sympathy for distant human suffering declines when we’re presented with rising body counts.

Sometimes we’re discouraged by the scope of the problem and this stops us from doing things that actually make a difference—even if partial solutions can save lives.

Other times, if the options for helping others seem too narrow or ineffective, we’ll turn away and stop caring.

Images can alert us to the horrors of violence, mass migration and poverty. But as we have seen time and again, photographs and news footage of human suffering generally precipitate a short-term emotional reaction, rather than a sustained humanitarian response.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/how-much-power-can-oneimage-actually-have-119507. This is an updated version of an article originally published on April 13, 2017.