BusinessMirror July 10, 2019

CHINA VISITORS JUMP 31% IN JAN-MAY

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

A

RRIVALS from China boosted the overall number of inbound tourists in the Philippines to some 3.5 million in the first five months of 2019.

Data from the Department of Tourism (DOT) showed arrivals from China strengthened by some 31 percent to 733,769 arrivals, increasing its market share this year to 21.03 percent from just 17.6 percent in the same period in 2018. This put China right on the heels of South Korea, which continues to be the top source market for

CHINESE tourists fall in line at the Immigration booth of Naia Terminal 3 in this BusinessMirror file photo. Reports said that arrivals from China boosted the overall number of inbound tourists in the Philippines to some 3.5 million in the first five months of 2019. NONIE REYES

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tourists for the Philippines.

Arrivals from South Korea grew by 11.76 percent to 788,530 this year, and accounting for 22.6 percent of the total inbound tourists. This was almost unchanged from the 22.22 percent market share they had in January to May 2018.

The United States remained in third place with a 1.98-percent increase in arrivals to 472,469, and a lower market share of 13.54 percent from 14.6 percent in the same period last year.

In fourth place was Japan, with arrivals rising by some 2.2 percent to 281,988, also with a slightly lower market share of 8.08 percent from last year’s 8.7 percent.

See “China,” A12

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A broader look at today’s business n

Wednesday, July 10, 2019 Vol. 14 No. 273

BSP-approved loans double in ’18, hit $7.3B 18% T

By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) on Tuesday reported a significant rise in the foreign public-sector loans it approved in 2018, compared to that of 2017, in an effort to amply finance the government’s infrastructure development projects.

Monetary Board-approved foreign loans of the national government (NG) more than doubled in 2018 to hit $7.355 billion during the year, from the 2017 level of $3.486 billion.

Under the Constitution, the BSP

—through its Monetary Board—is required to give prior approval for all foreign loans to be contracted or guaranteed by the Republic of the Philippines.

Similarly, all foreign borrowing proposals by the NG, government

agencies and government financial institutions must be submitted for approval-in-principle by the Monetary Board before actual negotiations commence.

This is to fulfill the BSP’s mandate in external debt management

The percentage of the $7.355-billion total approved public-sector loans for 2018 that will fund five infrastructure flagship projects under the “Build, Build, Build” program. The 18 percent is equivalent to $1.36 billion by keeping external debt service requirements at manageable levels to ensure external debt sustainability.

The BSP said the public-sector loans during the year consisted of: $3.602-billion bonds; 12 project loans amounting to $2.853 billion; and three program loans Continued on A2

By Butch Fernandez @butchfBM

ENATE leaders on Tuesday allayed apprehensions that the difficulty of getting a new chairman for the ways and means committee—tasked to endorse passage of the administration’s revenue-raising measures to bankroll vital government projects this year—might derail such initiatives.

Senate President Pro Tempore Ralph Recto, whose election loss several years ago was blamed on his sponsorship of the expanded value-added tax reform, said that if there are really no takers for the ways and means panel, he might even be willing to take it.

Senate President Vicente Sotto III eased the fears of a possible delay in passing tax measures after

Sen. Juan Edgardo Angara gave up chairmanship of the committee early this year. It was Angara, as ways and means panel chief, who presided over the tumultuous, long-drawn process of passing the first of the tax-reform packages, dubbed Tax Reform for Acceleration and Inclusion (TRAIN) law. It became effective January 1, 2018.

Angara was reelected in the May 2019 elections, landing sixth despite fears his sponsorship of TRAIN might hurt his poll chances.

“We are asking Senator Pia [Cayetano] to take it,” Sotto told BusinessMirror, referring to the ways and means chairmanship. However, he did not say if Cayetano has already agreed to take on the task of chairing the committee, amid reports quoting her as saying she wasn’t too keen on it.

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GERMANY LAUNCHES PROBE INTO MIXED MEAT SHIPMENT

By Jasper Emmanuel Y. Arcalas

B

@jearcalas

ERLIN has started its investigation of the recent quarantine breach by a German firm that prompted the Department of Agriculture (DA) to ban all meat imports from Germany, its top envoy to the Philippines said.

German Ambassador to the Philippines Gordon Kricke said Berlin has received formal communication from the DA about the incident, wherein pork from Poland—one of the countries that reported an outbreak of African swine fever (ASF)—was included in the shipment of a German firm to the Philippines.

Kricke said an investigation into the incident has been launched. He said the incident worries Berlin as the ban imposed by the DA will affect many German firms.

“We are now in the stage of consulting with [Berlin] to see

Senate leaders ease fears over delayed Trabaho bill

S

Taiwan continued to bounce back, with arrivals jumping by 27.24 percent to 128,986, and accounting for 3.7 percent of market share, a tad higher than its 3.2 percent share in 2018.

The rest of the markets were Australia with 123,851 (+2.7 percent), Canada with 114,605 (+5.01 percent), and the United Kingdom with 92,914 (+3.5 percent).

Singapore was in the ninth spot with arrivals falling by some 14.4 percent to 64,951, while Malaysia inched up 1.81 percent to 62,144. In an earlier media briefing, DOT Spokesman and Undersecretary for Tourism Development Planning Benito C. Bengzon Jr.

what happened and we will discuss this with Philippine authorities,” he told reporters in a news briefing in Makati City on Tuesday.

“It is in the very initial stage and we do not know what the situation is and what can be done to address this. But, of course, we would want German meat imports to be allowed again as soon as possible,” Kricke added.

The German envoy said he does not know how fast Berlin can resolve the issue, as the investigation has just started.

Agriculture Secretary Emmanuel F. Piñol told the BusinessMirror last week that he would ask Germany to fix the loopholes in its quarantine system that led to the incident.

The DA has suspended the system-wide accreditation of all foreign meat establishments in Germany after a German shipment was found to contain some pork products from Poland.

See “Germany,” A2

17 commercial airports in 3 yrs, 28 ongoing

By Lorenz S. Marasigan @lorenzmarasigan

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THE Philippines’s first “eco airport,” the Panglao International Airport in Bohol, one of two new international airports built in the first half of Duterte’s term. PHOTO FROM C.A.A.P. WEB SITE

RANSPORTATION Secretar y Arthur P. Tugade reported on Tuesday that his group has completed 17 commercial airport projects in the last three years, while 28 more are ongoing, as he noted the “vital importance” of connectivity in regional development.

He said that within the first half of President Duterte’s term, two new international airports were built: the Lal-Lo International Airport in Cagayan and the Bohol-Panglao International Airport.

The government, through the public-private partnership (PPP) program, opened the second terminal of the See “Airports,” A2

US 51.3330 n JAPAN 0.4722 n UK 64.2432 n HK 6.5822 n CHINA 7.4583 n SINGAPORE 37.7559 n AUSTRALIA 35.7791 n EU 57.5700 n SAUDI ARABIA 13.6885

Source: BSP (9 July 2019 )

=

News

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A2 Wednesday, July 10, 2019

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PhilHealth sees claims doubling with UHC

T

By Samuel P. Medenilla

@sam_medenilla

HE Philippine Health Insurance Corp. (PhilHealth) on Tuesday said it expects the number of its claims to hit the 2-million mark with the full implementation of the Universal Health Care Law (UHCL).

In a media forum, newly appointed PhilHealth President and CEO Ricardo C. Morales disclosed this is double the 1 million claims per month which they received prior to the UHCL. In anticipation of this challenge, the retired general said they will be “plugging the holes” in their finances, as well as enforce a “topto-bottom” reorganization.

Airports. . .

Continued from A1

Mactan-Cebu International Airport, which boosted its annual capacity to 13.5 million passengers.

Meanwhile, the terminals and runways of the Puerto Princesa Airport and Ormoc Airport were also expanded and extended, while additional infrastructure development was accomplished for the domestic airports of Virac, Marinduque, Tuguegarao, San Vicente and Busuanga in Luzon; Maasin, Tacloban, and Catarman in the Visayas; and Ipil, Camiguin, and Siargao in Mindanao.

“Connectivity and mobility in transport are key components in socioeconomic development. By building new airports and rehabilitating existing ones, the transportation sector contributes to both regional and national progress,” Tugade said.

He added that the Department of Transportation (DOTr), along with its attached agency, the Civil Aviation Authority of the Philippines (Caap), is accelerating the ongoing infrastructure development in 27 commercial airports and one military air base. The government is also set to build one more international airport.

Tugade said the government is currently rehabilitating the second terminal of the Ninoy Aquino International Airport (Naia), while it has implemented a 24/7 construction schedule for the commercialization of Sangley Airport.

Likewise, construction of the second terminal of the Clark International Airport is under way. This will expand the capacity of Clark to 12.2 million passengers per year.

Meanwhile, the Swiss Challenge for the New Manila International Airport in Bulacan is set to be concluded in the third quarter of 2019.

The transportation department is also currently expanding the Bicol International Airport to increase its capacity to 2 million passengers per year.

International airports in Davao, General Santos, Zamboanga, Iloilo, Kalibo and Laoag are also undergoing improvements. Development projects continue, as well, for domestic airports in Busuanga, Cauayan, Naga andTuguegarao in Luzon; Bacolod-Silay, Calbayog, Catbalogan, Dumaguete and Tacloban in the Visayas; and Bukidnon, Ipil, Laguindingan, Mati, M’lang, Ozamiz, Sanga-Sanga, Siargao and Surigao in Mindanao.

“A number of airports we have rehabilitated were in a dismal state when we took over. We are proud of what we have already accomplished, but we know that we can do more,” Caap Director General Jim Sydiongco said.

“This year we will be rolling out the Universal Health Care Law. This is going to change our health-care environment for the future. Hopefully for the better. And if we do it right, people in the future will thank us, if not they will curse us,” Morales said.

Morales recently took over the helm of PhilHealth after the institution drew flak, over the alleged

loss of P154 billion of its funds due to overpayment and fraudulent transactions.

PhilHealth said the report is now being validated by the Commission on Audit (COA) and it already coordinated with the National Bureau of Investigation (NBI) to file cases against the people behind it.

Based on its record, it said it has only incurred P3 billion in losses from fraudulent activities in the last five years.

New tech

TO minimize if not completely eliminate such irregularity, Morales said they are considering fully automating their transactions using an online system for the filing of claims.

“We notice face-to-face transactions are really prone to corruption,” Morales said.

He said they are now also considering tapping the biometric feature of the National ID system of

“This year we will be rolling out the Universal Health Care Law. This is going to change our health-care environment for the future. Hopefully for the better. And if we do it right, people in the future will thank us, if not they will curse us.”—Morales

the Philippine Statistics Authority (PSA) to get real-time personal information about their clients.

The said information, he said, can be used to check if the procedure undertaken by their client is valid or not.

Additional personnel

YET another challenge to PhilHealth, Morales said, is having enough personnel to service additional claimants.

A review on how to reorganize their existing plantilla to allow

BSP-approved loans double in ’18, hit $7.3B Continued from A1

amounting to $900 million. These public-sector borrowings are expected to finance projects on transport connectivity such as roads, railways, port and airport infrastructure, irrigation and agriculture development, flood management, and the reconstruction and development of Marawi City, according to the BSP. Of the $7.355-billion total approved public sector loans for the year, about 18 percent or $1.36 billion will fund five infrastructure flagship projects under the current administration’s “Build, Build, Build” program.

Trabaho bill. . .

Continued from A1

Right after Congress convenes to formalize committee assignments on July 22, the committee is expected to tackle additional tax measures, including the controversial “Trabaho” bill—for Tax Reform for Attracting Better and HighQuality Opportunities—that economic zone locators oppose for removing incentives, including those that were promised when they first decided to invest in the Philippines.

Investors were reported on Tuesday to be “jittery” over the delayed passage of the Trabaho bill, which sponsors insisted will attract more foreign direct investment (FDI) inflows into the country.

Asked if a delayed designation of a new chief for the Senate ways and means committee could aggravate uncertainty over the fate of the Duterte administration-backed Trabaho bill, Senate President Pro Tempore Ralph Recto indicated readiness to take on the job.

“I am not worried. There will be a ways and means chairman,” Recto said in a text message to BusinessMirror. “I may take it if no one is interested,” added Recto, a former socioeconomic planning secretary and director general of the National Economic and Development Authority (Neda).

Before becoming Neda chief, Recto in

These are: the Metro Manila Subway Project, Phase I, the Chico River Pump Irrigation Project, the New Cebu International Container Port Project, the New Bohol Airport Construction and Sustainable Environment Protection Project, Phase II and the Cavite Industrial Area Flood Risk Management Project.

The Central Bank, however, quickly gave assurances that while public-sector loans rose significantly during the year, the external debt position remains at prudent levels.

In the first quarter of 2019, the Philippines’ outstanding external debt stood at $80.4 billion, up by 1.9 percent from the end-2018

his first stint in Congress had been perceived to have been “punished” by voters because, as ways and means chairman, he sponsored the expanded VAT law.

Meanwhile, Recto calmed concerns by analysts that the still uncertain fate of the Trabaho bill could cause potential investors to hedge.

The Senate President Pro Tempore said he does not expect passage of the tax bill in the new Congress to be a tough task.

“The Trabaho bill is not difficult,” Recto said, adding:“For as long as we respect existing contracts.” It was in apparent reference to the ecozone locators’ complaint that some provisions in the Trabaho bill would take away incentives they were promised by government when they first invested.

On Monday, economists said the 18th Congress must immediately decide on the fate of the Trabaho bill if it wants to increase foreign direct investments inflows into the Philippines.

First Metro Investment Corp. (FMIC) Vice President and Department Head of Research Cristina S. Ulang in a news briefing urged Congress to put an end to the uncertainties being created by the nonpassage of the Trabaho bill.

“The concern is just the speed [that’s the issue]. The uncertainty should be removed. So it should happen this year; we’re expecting Congress to pass it this year and then maybe address some of the concerns. If the uncertainty is removed, then the FDI can come in,” Ulang told

No term sharing. . .

“During the time of [Speakers Manny] Villar, [Jose] De Venecia and [Pantaleon] Alvarez, by May or June we already know who will be the next Speaker and chairmen of the committees,” Salceda recalled.

The Party-list Coalition, meanwhile, said it will adhere to Duterte’s decision endorsing Cayetano as well as Velasco in a term- sharing agreement.

Continued from A12

It will be the first time that the House of Representative will have a term-sharing setup as proposed by a president.

Under the term-sharing agreement, Cayetano will occupy the Speaker’s post for the first 15 months while the remaining 21 months of the 36th month of the 18th Congress will be taken by Velasco.

According to Duterte, Leyte Rep. Martin Romualdez will be the majority floor leader.

level of $79 billion.

The BSP also said that despite the rise in external debt, the country’s debt service ratio (DSR) has consistently remained at single-digit levels. The DSR stood at 5.1 percent as of endMarch 2019, well below the international benchmark of 20 to 25 percent.

The DSR relates principal and interest payments—or the socalled debt service burden—to exports of goods and receipts from services and primary income. It is a measure of adequacy of the country’s foreignexchange earnings to meet maturing debt obligations.

the BusinessMirror on the sidelines of the briefing.

“We’re not against it, we’re not against Trabaho bill,” she added. “It should happen and whatever is the transition period, then the investor should know. If they know, they can decide.”

Ulang said FMIC supports the passage of the Trabaho bill since they believe in a number of the provisions such as the time-bound and performance-based incentives for investors.

While she agreed that incentives cannot be extended forever, Ulang said Congress should address the concerns of businessmen on the final version of the bill.

In May, Philippine Ecozones Association (Philea) President Francisco S. Zaldarriaga told the BusinessMirror that economic zone developers are in a waitand-see mode on whether the Trabaho bill will be transmitted to Malacañang under the 17th Congress.

Zaldarriaga said the group has yet to evaluate investment losses from the uncertainties, but claimed it“definitely”took a toll on capital inflow to the Philippine Economic Zone Authority (Peza).

Investments registered with the Peza last year slumped 40.97 percent to P140.24 billion, from P237.57 billion in 2017. A total of 529 fresh projects represented these investment pledges, from

the 554 projects in 2017. With an earlier

report by Cai U. Ordinario

Five lawmakers are vying for the speakership, namely, Cayetano, Velasco, Romualdez, Davao City Rep. Isidro Ungab and Bayan Muna Rep. Carlos Isagani Zarate.

The President’s son and Davao City Rep. Paolo Duterte, meanwhile, has backed out from the race and supported the bid of Ungab from Hugpong ng Pagbabago, the party founded by his sister, Davao City Mayor Sara Duterte.

The 18th Congress will convene and elect the next Speaker on July 22, the same day as the Fourth State of the Nation Address of President Duterte. Jovee Marie N. Dela Cruz

their handling of increasing clients is ongoing.

“The purpose [for the reorganization] is to become efficient and economical in the performance [of our personnel] in the function of the office,” Morales said.

Additional personnel for some overburdened departments may be considered.

He cited the case of their legal department, which only has 12 lawyers handling at least 15,000 administrative cases.

PhilHealth Senior Vice President Rodolfo del Rosario Jr. said these cases include misrepresentation, upcasing and multiple filing of claims.

Morales said they hope to come up with successfully filed cases, wherein the people behind an illegal act are prosecuted and jailed, to deter other wrongdoers.

Fund sustainability

MORALES said ensuring the sus-

tainability of existing funds is a challenge.

The current fund is expected to increase from P160 billion to P257 billion with the reforms introduced under the UHCL. The agency will rely on their rate hike from the “sin” tax, their membership premiums, Philippine Amusement and Gaming Corp.

(Pagcor) and the Philippine Charity Sweepstakes Office to generate enough revenue for the UHC program.

Morales, however, noted this may still not be enough, especially if the population will continue to rise.

“That is why [Finance] Sec. [Carlos] Dominguez is very emphatic we should plug all leaks and to make sure we are in the blue. In other words we should not lose money by running our operations efficiently and plugging all leaks [in our finances],” Morales said.

Sweden needs 30K software engineers

By Recto Mercene

S

@rectomercene

WEDEN, a country of 10 million inhabitants, is in need of 30,000 Filipino software engineers, according to Swedish Ambassador to the Philippines Harald Fries.

Fries said he came to know about this following a dialogue with some local companies that would help recruit qualified professionals. The envoy said Swedish firms have shown interest in recruiting Filipino engineers “because there’s a big shortage in Sweden.”

“I was told we have a shortage of 30,000 engineers and that’s a lot for a small country. We need it to continue with our innovative engineering industry,” he said during an interview over breakfast at his Forbes Park residence in Makati.

Fries said he had been in touch with some local companies that will help recruit qualified professionals from the Philippines: “I connected them to Swed ish companies that also work with recr uiting pr imar ily eng ineers from other countries.”

“Sweden has recruited thousands of Indians for the IT [informationtechnology] sector,” he added.

The capital of Sweden, Stockholm, is a city built on 14 islands. The Scandinavian nation has a per capita GDP

Germany. . .

Continued from A1

The suspension means that no German firm may export meat to the Philippines for an indefinite period of time.

If Germany wants to regain its export accreditation and resume trade, then it has to convince Philippine authorities that it has improved its quarantine system.

“The German co-mingling case causes great concern for Philippine quarantine authorities. Somehow it strengthens our earlier reservation on allowing shipment of pork from ASF high-risk countries,” Piñol said in an interview on Thursday. He was referring to his earlier controversial plan to include even so-called high-risk countries—those without ASF cases but share boundaries with ASF-affected ones—in the Philippines’s imports ban.

ID system. . .

Continued from A12

“No recommendations were made on the proposed statistical budget of Neda given the lack of detailed breakdown and justifications for their proposed budget,”the resolution read.

“The proposed statistical budget of DENR was not recommended in full given the lack of detailed breakdown for repair and maintenance expenses,” it added.

The PSA budget for 2020 will support Personnel Services costing P79.06 million;

of $54,112 in 2018, according to data from the World Bank.

Fries said Filipino software engineers who will be allowed to work in Sweden can bring their family and spouse, who will automatically be given a work permit.

“So you don’t have the typical challenge of an OFW [overseas Filipino worker] leaving the family at home,” he said.

Fries said those accepted to work in Sweden can stay for a few years, “leave the country and move back a few years [later].”

The envoy, who is married to a Filipina, said some Filipinos are working in Sweden’s health-care industry. He said nurses applying for a job in his country should learn how to speak Swedish, “for how can you be a caregiver if you don’t speak our language?”

Fries said he does not see the need to sign a memorandum of agreement with Philippine labor agencies as “these recruiting companies have dealt with each other. The rules are there already.”

The envoy noted that the demand for more IT and software engineers is a recent development.

“This is very recent, I’ve met them [recruiting companies] two months ago and I connected them with their Swedish counterparts, [but] I don’t know how far they have come. This is just the start,” he said.

2nd biggest source

THE Philippines purchased over 88 million kilograms of meat products from Germany last year, making it the country’s second-biggest source of meat imports, data from the Bureau of Animal Industry showed.

Meat Importers and Traders Association (Mita) President Jesus C. Cham earlier said the import ban on Germany is a “strong wake-up call” for the Netherlands, Austria and France to strengthen their quarantine system, particularly their documentation processes.

Germany, the Netherlands, France, and Austria have been deemed by the DA as high-risk countries as they share common borders with EU states that are already infected with ASF. “The bigger concern is, how did the Polish pork pass through Germany’s quarantine system? The veterinary certificate is like a check, it cannot bounce. This is an issue of documentation,” Cham told the BusinessMirror last week.

Maintenance and Other Operating Expenses, P15.48 billion; and Capital Outlays, P9.09 billion.

It will be used for the implementation of the Philsys; the conduct of the Census of Population and Housing, which is done every 10 years; and the Unified Multi-Purpose Identification System Central Verification and Enrolment Agency (Umid-CVEA) component.

The money will also go to Labor Force Surveys, efforts to improve the national accounts to meet the country’s Sustainable Development Goal commitments; development of the subnational statistical system project, and the 2nd Philippine Data Festival.

The Nation BusinessMirror

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Japanese wanted for $2.9-billion copyright breach nabbed at Naia

By Joel R. San Juan

@jrsanjuan1573

T

HEBureau “His presence of Immiin the country is gration a risk to public (BI) on Tuesday safety and announced the security.” arrest of a Jap—Morente anese-GermanIsraeli fugitive who is allegedly behind Japan’s worst copyright law violation that resulted in damages amounting to $2.9 billion or ¥320 billion.

BI Intelligence Officer and head of the Bureau’s Fugitive Search Unit Bobby R. Raquepo identified the fugitive as 28-year-old Romi Hoshino, a.k.a. Zakay Romi.

Hoshino was arrested last Sunday at the Ninoy Aquino International Airport (Naia) Terminal 3 on the strength of a mission order issued by BI Commissioner Jaime H. Morente.

The mission order was issued upon the request of the Embassy of Japan in Manila, which sought the help of the agency in locating and arresting the fugitive.

The operations against Hoshino was conducted in coordination with Tokyo Interpol, according to the BI. Based on the records, Hoshino was reportedly the manager of Manga-Mura, an illegal viewing web site of Japanese cartoons, popularly known as manga, which operated from January 2016 to April 2018.

“His presence in the country is a risk to public safety and security,” Morente said.

“We are in close coordination with our foreign counterparts who send us information about criminals who might be hiding in the Philippines. Upon knowledge, we immediately seek, arrest and deport these fugitives,” he added.

Morente said the Japanese Embassy assured the agency that it would conduct the necessary coordination with the Israeli and German embassies regarding the fugitive’s deportation to Japan. With Recto Mercene

Makabayan bloc urges House to probe death of 3-year girl during anti-drug ops in Rizal

By Jovee Marie N. Dela Cruz @joveemarie

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HE House Makabayan bloc on Tuesday filed a resolution directing the House Committee on Human Rights to investigate the death of a three-year-old who was killed in an anti-drug operation by the police in Rodriguez, Rizal.

In House Resolution 41, the bloc said the death of Kateleen Myka Ulpina is the

latest addition to the list of over 100 minors killed in the administration’s antiillegal-drugs campaign.

Last June 30, 2019, the girl was reportedly killed in the crossfire with a gunshot wound to the head together with suspected drug dealer named Renato Dolorfina in an anti-drug operation conducted by the Philippine National Police (PNP) in Rodriguez, Rizal.

The bloc said the police reportedly ac-

cused the father of being armed, opening fire, and resisting arrest, allegedly using Myka as a human shield.

However, the bloc added Myka’s mother belied authorities’ claim that Myka was used as a human shield by his father, who is also a drug suspect, adding that police broke in and smashed their windows while they were asleep, and that the police did not present any warrant of arrest, or any legal documentation.

S

The lawmakers said at least 29,000 cases of killings classified as deaths under inquiry have been recorded nationwide since President Duterte launched his crackdown on illegal drugs based on the data by the PNP. Members of the bloc include Gabriela Rep. Arlene Brosas, Bayan Muna Reps.

Carlos Isagani Zarate, Ferdinand Gaite and Eufemia Cullamat, ACT Teachers Rep. France Castro and Kabataan Rep. Sarah Jane Elago.

Ex-rebs get lot titles, drug surrenderers freed Military says Sulu on plea bargain deal in Compostela Valley bombs may have been

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

D

AVAO CITY—The Compostela Valley provincial government handed out land titles and gave cash assistance to former New People’s Army (NPA) guerrillas to consolidate the local government’s effort in integrating them back to the communities.

Under its program Operation Plan Pagbabago, Tulong Serbisyo, the province also announced that some 60 drug offenders would soon be released from different jails in the province after entering into a plea bargain deal with provincial officials.

On July 4 and 5, the provincial government distributed 149 land titles to former NPAs who are residents of Barangay Araibo in Pantukan town. They were also granted P300,000 in cash assistance.

The Department of Agrarian Reform also distributed titles, while the Department of Social Welfare and Development sepatately gave P300,000 to the members of Araibo Bugasan Pamana SLP (Payapa at Masaganang Pamayanan-Sustainable Livelihood Program) Association.

The province and the government agencies also provided dental and clinical services, welfare servic-

es and government office services, and distributed school supplies to children.

Pantukan Municipal Mayor Roberto Yugo, along with Gov. Jayvee Tyron Uy, gave both the land titles and cash assistance.

The Oplan Pagbabago was adapted as a special provincial government program of Gov. Uy through Executive Order 028-2018 to provide assistance to former rebels in the province. As a prerequisite, the beneficiaries must have already surrendered and have sought support from the government for a more peaceful life with their families.

The program already helped more than 7,000 people throughout the province.

Meanwhile, a similar program called Oplan Bagong Buhay would help secure the release of some 60 inmates jailed for drug-related offenses from the different jails in the province.

The inmates helped secure their release after they went through a plea bargaining requiring them to enter a rehabilitation program.

Only those arrested on a lesser drug offense were legible for the plea bargain, according to a government guideline on plea bargaining on drug offense. The province said this was allowed by the Supreme Court to speed up the decongestion of jails.

Plea to compel govt to rehab WPS set for dismissal–SolGen OLICITOR General (SolGen) Jose Calida on Tuesday said the parties in the petition seeking to compel the government to protect, preserve and rehabilitate the environment in the Scarborough Shoal or Panatag Shoal, Ayungin Shoal, and Mischief or Panganiban Reef in the West Philippine Sea (WPS) have agreed to the dismissal of the case.

Calida made the disclosure after the magistrates suspended the second round of the oral argument and summoned all the parties in the petition for a closeddoor conference following the chief government’s counsel’s claim that the main petitioners in the case have decided to withdraw their signatures in the petition.

In his opening statement, Calida said fishermen from Palawan and Zambales, have submitted their affidavits expressing their intention to withdraw their signatures from the petition.

Calida said Monico Abogado who led the petitioner—Kalayaan Palawan Farmers and Fisherfolk Association—also executed an affidavit, saying that the group was only being used for political agenda of the Integrated Bar of the Philippines (IBP).

“Nineteen of the affiants said they did not actually sign the petition, they disowned the petition. But anyway that is moot and academic now because the parties have agreed that we dismiss the case

by Friday,” Calida told reporters.

“The parties, petitioners and respondents agreed that [the] case be dismissed...

To us that’s a win because we are the respondents. I’m the lawyer of the respondents,” he added.

Calida said the dismissal of the case was agreed during the closed-door session.

Sought for his comment, the Free Legal Assistance Group, headed by dean Jose Manuel Diokno, told reporters that “after being called to chambers, both parties agreed to explore the filing of a joint motion in the premises and were given until Friday to do so.”

Supreme Court Spokesman Brian Keith Hosaka, on the other hand, said the Court cannot confirm what was agreed upon by the parties and their counsels during the conference but disclosed that the Court decided to suspend the oral arguments in view of the submissions of the SolGen and the manifestations of the counsels during the oral arguments.

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“As for petitioner IBP, it did not even alleged what capacity it is suing or what injury it has sustained. Definitely, it’s not to safeguard the administration of justice or to advocate for the rule of law because the IBP lawyers involved in this case foisted egregious deceit not only on the fisherfolk petitioners but also on this Honorable Court,” Calida told the 15-man High Tribunal in his opening statement.

“They bastardized the lofty ideals of IBP when they used it as a battering ram to take down the Duterte administration.

One thing is sure, they won’t get away with impunity,” Calida added.

Furthermore, Calida said the remedy being sought in the petition is also improper considering that it accuses China as the cause of environmental degradation in the WPS. He explained that the remedy concerning the violation falls within foreign relations, thus, political in nature which is beyond the jurisdiction of the Court “Thus, should the President pursue ‘realpolitik or a diplomatic’ policy, then this Honorable Court will have no jurisdiction,” Calida pointed out.

Likewise, Calida noted that the petitioner failed to present evidence to back its claim of environmental damage but merely anchored its petition on the 2016 decision of the Permanent Court of Arbitration, which narrated damage to the marine environment and ruled that China breached its obligations.

“However, these are legal conclusions and not averment of ultimate facts. Without ultimate facts, the petition failed to adduce evidence to support its claim of environmental damage,” the chief government counsel explained.

Calida noted that the petition asks for the writ of continuing mandamus and a writ of kalikasan but during interpellation during last week’s oral arguments, the relief sought by the petitioner is criminal prosecution to be initiated by the government against Chinese fishermen for damaging the WPS. “However, it is a basic principle that the remedy of mandamus does not lie to compel a prosecutor to file a criminal information,” Calida pointed out.

It can be recalled that during last week’s oral arguments, the petitioner, through lawyer Andre Palacios, urged the Court to grant the petition for writ of kalikasan

and continuing mandamus for the sake of present and future generations.

While the petitioners are mindful of the difficult challenges faced by government in terms of manpower and resources to enforce the country’s environmental laws in the entire Philippines’s exclusive economic zone (EEZ), Palacios said a favorable decision will force the government to ask Congress for a bigger budget to be able to comply with the Court’s directive to protect Scarborough Shoal or Panatag Shoal, Ayungin Shoal and Mischief or Panganiban Reef in the WPS. Palacios added that although the petition involves foreign relations issues relating to the EEZ, it also involves the enforcement of domestic environmental

laws against private individuals.

In their petition, the fishermen told the SC that Chinese fishermen have been harvesting and endangering marine resources in the WPS and used cyanide and explosives in their fishing.

They sought the issuance of a writ of continuing mandamus in what they describe as “neglect of performance of the duties of the government in violation of environmental laws resulting in environmental destruction or damage in the shoals.”

Named respondents in the petition were the Department of Environment and Natural Resources, Department of Agriculture, Philippine Navy, Philippine Coast Guard, Philippine National Police, and Department of Justice. Joel R. San Juan

remotely detonated

By Rene Acosta

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@reneacostaBM

HE military has not totally ruled out the possibility that the twin explosions that rocked an Army camp in Sulu more than a week ago were remotely detonated, even as the Philippine National Police (PNP) has wrapped up its investigation into the identities of the two bombers.

“We are still considering that the bombs were remotely detonated from a distance,” said Armed Forces Western Mindanao Command commander Maj. Gen. Cirilito Sobejana on Tuesday, adding the probability that the incidents were also a case of suicide bombing was also high.

Defense Secretary Delfin N. Lorenzana said earlier that he believed the twin explosions, which killed eight people, including the two bombers, were a case of suicide bombing, but whether one of the suspects was a Filipino would still need a thorough validation.

PNP chief Gen. Oscar Albayalde said on Monday that the PNP Crime Laboratory has already finished its investigation into the bombings, including on the identities of the two bombers. He, however, said the report would be submitted to the military, which would be tasked to release its results.

But Sobejana said that since it was the PNP that looked into the identities of the bombers, then it may be in the best position to release its findings, which he admitted had been forwarded to them, but which, the official said, he has yet to see.

“It should be them which should now release the report,” he said.

The military commander said the PNP Crime Laboratory investigation looked into the nationalities of the two bombers, one of which was supposed to have been a Filipino identified as Norman Lasuca from Jolo, Sulu, based on the claims of his family members who claimed his remains from a military morgue in Sulu.

Sobejana said the issue whether or not the explosions were suicide bombings, remains, except with the nationalities of the suspects.

“The definition of a suicide bombing is the bomb is strapped into the bomber who detonates it himself,” Sobejana said.

“In this case, the detonation may have been remotely carried out by somebody from a distance,” he said.

Since the bodies of the two bombers were shredded into pieces following the explosions, it may be hard to ascertain whether it was a case of suicide bombing, or remotely detonated bombing, although the bombs were with the two bombers.

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MICC gears up for second round of mining audit as group presses for transparency, accountability

By Jonathan L. Mayuga

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@jonlmayuga

HE interagency Mining Industry Coordinating Council (MICC) said it will conduct the second round of mining audit from July to January next year as part of the continuing effort of the

Duterte administration to promote responsible mining in the country.

The audit, which the MICC promises to be “objective, science-based and factfinding,” will cover 17 mining operations across the country.

The same technical teams that conducted

the first round of reviews last year covering a total of 26 mines will do the second mining audit.

“The MICC will complete the review and management teams in the second and third week of July. We will tap around 15 experts from the same technical teams that did the first audit,” Finance Undersecretary Bayani H. Agabin, who chaired n MICC meeting held recently at the Department of Finance main office in Manila, said in a news statement.

Agabin said the 15 experts will be grouped into three teams with five members for each panel and will employ senior and junior technical and research assistants to help them with the audit.

The review will cover the environmental, economic, social, legal and technical aspects of the mining operations, he added.

Earlier, the MICC deferred a recommendation on the lifting of the moratorium on the issuance of new mineral agreements.

Executive Order (EO) 79 imposed a moratorium on new mineral agreements “until a legislation rationalizing existing revenue sharing schemes and mechanisms shall have taken effect.”

The Tax Reform for Acceleration and Inclusion (TRAIN) law, or Republic Act 10963, increased the excise tax on mineral products from 2 percent to 4 percent, even as the Department of Environment and Natural Resources (DENR) sought clarification on whether the increase would be considered as having satisfied the condition of legislation rationalizing the existing revenue-sharing scheme.

However, the Department of Finance clarified that TRAIN only increased the excise taxes and did not cover the implementation of a new fiscal regime for mining. The new fiscal regime proposed by the DOF covers other taxes and fees, such as royalty, windfall, profit and incentives.

Given the clarification, the MICC resolved to defer a recommendation to lift the moratorium on new mineral agreements, stressing that a new revenue-sharing scheme and mechanisms for mining will be covered in the Package 2 plus of the Comprehensive Tax Reform Program (CTRP), which will have to be refiled in the incoming 18th Congress.

‘Questionable’

SOUGHT for comment, anti-mining groups under the Alyansa Tigil Mina (ATM) lauded the move, saying such mine audit has, in fact, been long overdue.

Jaybee Garganera, national coordinator of ATM, also questioned the outcome of the first review, which he pointed out has not been made public by the DENR and the MICC in the first place. “This leads us to question the results of the first round of the MICC review,” Garganera said.

Under the watch of then-DENR Secretary Regina Paz L. Lopez, who initiated a mining audit in 2016 and 2017, a total of 26 large-scale operating mines were recommended for suspension or closure for failing environmental standards.

The DENR audit was based on a set of criteria that include environmental, social and biodiversity concerns, deviating from the usual technical and economic aspects of mining operations. The ATM and its member-organizations in mining-affected communities were part of the audit.

This prompted mining companies to appeal their case to the MICC, including some that directly filed their appeal in Malacañang.

The MICC, hence, conducted a review of the DENR recommendation and its own mining audit where it cleared most of the mining companies but declined to give out details as to the methods.

Such lack of transparency, Garganera said, puts into question the entire MICC audit process.

The lack of transparency and accountability of DENR is precisely the reason communities and local governments like in Nueva Vizcaya are barricading the operations of Oceana Gold Philippines Inc., Garganera said.

“So yes, MICC should proceed immediately with their second round of mine audit reviews and they should release the results and methodologies of the first round of review,” he said.

“How come that from an original order of closure and cancellation of mining contracts, the recommendation of DENR has been reduced to mere suspension of… operations?” Garganera asked.

According to Garganera, members of ATM have given the DENR a copy of its “people’s mine audit,” which, he said, gives the testimonies and evidence gathered by mining-affected communities across the country.

“The evidences clearly show that mining companies violated our environmental laws or failed to comply with their own contractual obligations. These are enough bases to have their mining contracts canceled,” he said.

Harnessing the power of the sun: DA, DILG pact to deliver solar-powered irrigation to rural areas

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Department of Agriculture (DA) is set to enter into a memorandum of agreement (MOA) with the Department of the Interior and Local Government (DILG) for the servicing of untapped rural areas through solar-powered irrigation systems.

Agriculture Secretary Emmanuel F. Piñol said the DA would sign the agreement with the DILG to “provide irrigation for vegetables and high-value crops and safe drinking water for people living in remote off-grid villages.”

The joint program is slated to be launched in August, after the two agencies sign the MOA. Under the MOA, the DA would construct solar-powered rural water supply system and organize farmers in remote villages

that would benefit from the facility.

For its part, the DILG would identify the barangays, particularly those that do not have potable water sources, that would benefit from the program. “Water will be sourced from water springs, or from deep wells, to be drilled using modern water drilling equipment. About 30 percent of the over 40,000 barangays of the country does not have sources of safe drinking water,” he said in a Facebook post Tuesday.

“The absence of water supply in the remote villages also affect the foodproduction activities of the residents, especially those planting vegetables and other crops for their subsistence,” he added.

The prototy pe of the solar-powered water system would be constructed and funded by the DA under its existing solar-powered irrigation system project.

Neda Board registers 0.96-percent increase in project approvals to P974.03B in 2018

By Cai U. Ordinario

@caiordinario

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HE growth of new project approvals of the National Economic and Development Authority (Neda) Board was less than 1 percent in 2018.

Based on the recently released 2018 Annual Report of Neda, there was a 0.96percent growth in the amount of the new projects approved by the Neda Board to P974.03 billion in 2018, from P964.76 billion in 2017.

The total project approval of the Neda Board amounted to P1.33 trillion in 2018, including all projects with changes in cost, scope and design. This was a 34.47-percent increase from the P985.39 billion posted in 2017.

The largest new project approved by the Neda Board in 2018 was the unsolicited proposal for the Bulacan International Airport worth P735.63 billion.

The airport project proposed by San Miguel Corp. involves the construction, operation and maintenance of the New Manila International Airport in the company’s 2,500-hectare property in Bulakan, Bulacan.

The location of the proposed airport is a first-class municipality 35 kilometers north of Metro Manila and has a current population of 76,565 as of 2015.

Of the total land area, around 1,138 hectares will be allocated for the actual airport with a 100-hectare government center area and 1,132 hectares for other developments.

Apart from the Bulacan Airport, other big-ticket new project approvals of the Neda Board were the P50.03-billion SubicClark Railway Project; the P39.2-billion Ambal-Simuay River and Rio Grande de Mindanao River Flood Control and River Bank Protection Project; and the P33.1billion Pasig-Marikina River Channel Improvement Project Phase IV. In terms of the projects with changes approved in 2018, documents showed the largest project was North-South Commuter Railway (NSCR) System Extension whose change in cost and scope increased the project cost to P628.42 billion.

The 53.1-kilometer (km) passenger railway will be financed by loans from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (Jica). The project will be completed in five years but will be partially operational by 2022.

In May, the ADB Board approved a $2.75-billion-worth loan for the project, which will be used for the civil works that will cover six contracts. Jica will also extend a loan of $2 billion for the project.

Other big-ticket projects with changes approved last year were the P149.13-billion NSCR Phase 1; the P25.85-billion Davao City Bypass Construction Project, which was reevaluated by the Neda Board; and the Kaliwa Dam Project, which saw its cost increase to P12.2 billion.

The Neda Board is the highest policymaking body of the Neda, the country’s socioeconomic planning body. The Neda Board is chaired by the President, while the Neda secretary sits as vice chairman.

Neda is primarily responsible for formulating continuing, coordinated and fully integrated social and economic policies, plans and programs.

Under Executive 230 (Reorganizing the National Economic and Development Authority), the President may revise the membership of the Neda Board. With this, the membership of the Neda Board has been repeatedly amended through different administrations.

Marina pushes for more perks for SBSR players

By Lorenz S. Marasigan @lorenzmarasigan

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HE Maritime Industry Authority (Marina) has asked the Philippine Economic Zone Authority (Peza) to provide more incentives for shipbuilding and ship repair (SBSR) players, as it seeks to improve the overall investment climate in the maritime industry.

Specifically, Marina Director for Shipyard Regulation Service Ramon C. Hernandez said his group is lobbying for incentives for non-Peza-registered shipyards that im-

HERNANDEZ

port facilities or equipment.

This, he said, will “encourage more investors to engage i n SBSR sector.”

Spurring growth into the sector, Hernandez said, w ill help Marina to achieve a por-

tion of its goals under the Maritime Industry Development Plan.

T he est abl ish ment of t he g loba l maritime hub, initially targetted to be placed under the management of Peza, will transform the country into a onestop maritime destination in the Asian region.

In 2016, the local SBSR sector generated $1.6 billion in revenue. Furthermore, it continues to cater to the needs of other industries such as fishing and shipping with 1,179 ships constructed in 2018.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on June 8, 2019, the Position of Mr. Yao, Yaoyang under MELCO RESORTS LEISURE (PHP) CORPORATION should have been read as Butler and not as published.

If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Editor: Angel R. Calso

The World BusinessMirror

State Department proposes $2-B sale of arms to Taiwan

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A S H I N G T O N ­— T h e State Department is proposing the sale of $2.2 billion in arms to Taiwan, including 108 Abrams tanks and 250 Stinger surface-to-air missiles, sidestepping protests from China.

The tanks represent a significant upgrade to Taiwan’s aging armored battle f leet. Congress has been notified of the proposed sale and lawmakers can vote to stop it.

The Chinese foreign ministry

has said it firmly opposes US arms sales to Taiwan, a self-governing island that China claims as its territory.

The State Department says the arms will help Taiwan “meet current and future regional threats,” and enhance its ability to operate with the US and other partners.

Ta iwa n spl it f rom C h ina in 1949, and has no for ma l d iplo matic ties w ith the US. A merica is Ta iwa n’s ma in suppl ier of defensive weapons. AP

Greece creditors say no changes in bailout terms for new leader

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THENS, Greece­— Greece’s bailout creditors on Monday bluntly rejected calls from the country’s new conservative government to ease draconian budget conditions agreed as part of its rescue program.

Conser vat ive pa r t y leader Kyriakos Mitsotakis was sworn in as Greece’s new prime minister on Monday, a day after his resounding election victor y on campaign pledges to cut ta xes and negotiate new terms with international lenders.

Euro area finance ministers meeting hours later in Brussels said key targets already agreed with Athens would not be changed.

“Commitments are commitments, and if we break them, credibility is the first thing to fall apart.

That brings about a lack of confidence and investment,” Mario Centeno, the Eurogroup president, told reporters after the meeting.

Greece ended its third consecutive international bailout last summer — programs that rescued the country’s euro membership and staved off bankruptcy but also deepened poverty and unemployment as successive governments in Athens were forced to make spending cuts in return for the rescue loans.

As part of those agreements, Greece has pledged to achieve government budget surpluses, before debt costs, of 3.5 percent of GDP for the coming years. That condition has shackled government spending and, critics say, stifled the country’s recovery.

Klaus Regling, head of the euro area rescue fund and lead Greek bailout creditor, said the high surplus target would remain a key condition.

“It’s very hard to see how debt sustainability can be achieved without it,” he said. “The 3.5 percent surplus is a cornerstone of the program. It was a cornerstone of the program from the beginning.”

Mitsotakis, whose late father, Constantine Mitsotakis, was a conservative prime minister in the early 1990s, has promised to make Greece more business-friendly by lowering taxes and cutting red tape. But his new government faces pressing financial challenges, including a national debt that

exceeds 180 percent of GDP and banks saddled 45 percent of their loans unpaid or in trouble.

Analysts said Mitsotakis would be able to pursue growth-friendly policies despite the bailout constraints and financial challenges.

“The main take-away is that New Democracy’s government will be the first one-party government in Greece after nearly 10 years,” said Spyridoula Tzima, a senior financial analyst at Global Sovereign Ratings. “Mitsotakis [has] a strong mandate to implement his policy agenda.”

In the election, Mitsotakis’ center-right New Democracy party won 39.8 percent of the votes and 158 seats in the 300-member parliament, a comfortable majority.

“The people gave us a strong mandate to change Greece, and we will honor that commandment in full,” Mitsotakis said after his swearing-in ceremony. “We will make the start today with hard work, with full confidence in our ability to respond to the circumstances.”

Hundreds of conservative supporters braved the summer heat to greet him outside the prime minister’s official residence, chanting: “There his is! There he is! The Prime Minister!”

He replaced Alexis Tsipras, whose left-wing Syriza party got 31.5 percent of the vote. Tsipras became the latest in a series of Greek political leaders to suffer election defeat after implementing tough policies prescribed by bailout creditors from the euro area and International Monetary Fund since 2010.

The extreme right Golden Dawn party, the third largest in parliament at the height of the financial crisis, failed to make the 3 percent vote threshold needed to get seats in parliament.

Mitsotakis’s new Cabinet will rely heavily on experienced politicians who served in previous conservative governments. The finance minister will be Christos Staikouras, an engineer and economist who previously served as deputy minister. Nikos Dendias, the new foreign minister, held previous Cabinet posts at the ministries of public order, development, and defense. AP

JAPAN: NO PLAN TO RETRACT TRADE DECISION ON S. KOREA

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OKYO—Japan says it has no plans to retract its tightened control on high-tech exports to South Korea, saying it involves Japanese internal policy review.

Chief Cabinet Secretary Yoshihide Suga said Tuesday the review was necessary to appropriately carry out export controls, and that Tokyo does not plan to negotiate its decision with Seoul.

Suga was responding to South Korean President Moon Jae -in’s request for a diplomatic solution,

urging Tokyo to withdraw what he described as a politically motivated measure.

Japan tightened export approval fo r s h i p m e n t s o f p h o t o re s i s t s and other sensitive materials as relations between the two US allies deteriorated over wartime forced labor and other issues.

Japanese Prime Minister Shinzo Abe and his ultraconservative aides recently raised suspicion of South Korea’s alleged illegal transfer of sensitive materials to North Korea. AP

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UN human-rights chief ‘appalled’ by conditions in US for migrants

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ENEVA—The United Nations’s human-rights chief said on Monday she was “appalled” by the conditions migrants and refugees face in US detention facilities, intensifying a challenge to the Trump administration’s immigration policies.

United Nations High Commissioner for Human Rights Michelle Bachelet said children stopped by border agents should never be held in immigration detention facilities or separated from their families, and detention should not be the norm for adults, either.

“Any deprivation of liberty of adult migrants and refugees should be a measure of last resort,” the UN commissioner said, appealing for “noncustodial alternatives.”

A s p ok e s m a n for t he U N hu m a n-r ights of f ice, R av i n a Shamdasani, said Bachelet decided to speak out more forcefully than before after the US Department of Homeland Security’s inspector general issued a report last week warning of dangerous conditions in US immigration detention facilities.

Many migrants and refugees set off on “perilous journeys with their children in search of protection and dignity and away from violence and hunger,” Bachelet said in a statement.

“When they finally believe they have arrived in safety, they may find themselves separated from

their loved ones and locked in undignified conditions,” she continued. “This should never happen anywhere.”

President Donald J. Trump said Sunday that migrants were coming from “unbelievable poverty” and “those are people that are very happy with what’s going on because, relatively speaking, they’re in much better shape right now” in US custody.

He went on to praise the work of the Border Patrol and other law enforcement officers on the USMexico border, saying, “it’s incredible what they’re doing. They’ve had to become nurses. They’ve had to become janitors.”

The Homeland Security report was the second by the inspector general’s office to blast conditions at temporary detention centers in Texas where migrants are held.

The first, based on visits to Border Patrol facilities in western Texas in May, showed dozens of migrants packed into spaces so tight that some had to stand on toilets. It detailed how 900 migrants were in a 125-person facility at one point, with many held for weeks in violation of the

THIS undated photo, provided by the American Academy of Pediatrics on Friday, shows a drawing by a migrant child at the Catholic Charities Humanitarian Respite Center in McAllen, Texas. The release of the pictures follows a government watchdog report warning about overcrowded South Texas facilities holding migrant families. AMERICAN ACADEMY OF PEDIATRICS VIA AP

government’s policy.

Last week ’s report, released July 2, said several Border Patrol facilities in south Texas were dangerously overcrowded. Detainees banged on cell windows, shouted and pressed notes to a window for inspectors, according to the report released July 2. A photo showed a man holding a piece of cardboard with one word: “Help.”

Inspectors also warned that many children had no access to showers and were being detained long past the maximum of 72 hours.

Five children have died in Border Patrol custody since December.

“As a pediatrician, but also as a mother and a former head of state, I am deeply shocked that children are forced to sleep on the floor in overcrowded facilities, without

access to adequate health care or food, and with poor sanitation conditions,” Bachelet, a former president of Chile, said Monday.

“Detaining a child even for short periods under good conditions can have a serious impact on their health and development— consider the damage being done every day by allowing this alarming situation to continue,” she said.

Bachelet acknowledged the “sovereign prerogative” of countries to set the conditions under which foreigners are permitted to enter and stay but also highlighted their human-rights obligations.

Her office said she recognized the “complexity” of challenges faced by migrants’ countries of origin, the ones they travel through and destinations like the US. AP

BIG EARTHQUAKES RAISE INTEREST LAM SAYS EXTRADITION IN WEST COAST WARNING SYSTEM BILL IS ‘DEAD’ L H OS ANGELES­—The powerful Mojave Desert earthquakes that rocked California ended a years-long lull in major seismic activity and raised new interest in an early-warning system being developed for the West Coast.

The ShakeAlert system is substantially built in California and overall is about 55 percent complete, with much of the remaining installation of seismic sensor stations to be done in the Pacific Northwest, said Robert de Groot of the US Geological Survey.

Areas that have the appropriate number of sensors include Southern California, San Francisco Bay Area and the Seattle-Tacoma region, de Groot said.

The system does not predict earthquakes. Rather, it detects that an earthquake is occurring, rapidly calculates expected intensity levels and sends out alerts that may give warnings ranging from several seconds to perhaps a minute before potentially damaging shaking hits locations away from the epicenter.

Depending on the distance, that could be enough time to automatically slow trains, stop industrial machines, start generators, pull a surgical knife away from a patient or tell students to put the “drop, cover and hold” drill into action.

For alerts to be useful, delivery has to be timely, and that’s a problem with current cellphone technology.

For cellphone delivery, the USGS ultimately intends to use the same system that delivers Amber Alerts, sending signals to everyone in reach of cellphone towers in defined areas where damaging shaking is expected.

Pilot programs involving select

VISITORS cross Highway 178 next to a crack left on the road by an earthquake on Sunday, July 7, 2019, near Ridgecrest, California. AP/MARCIO JOSE SANCHEZ users have been underway for several years. In October, the USGS announced the system was ready to be used broadly by businesses, utilities, schools and other entities following a software update that reduced problems such as false alerts typically caused by a big quake somewhere in the world being misidentified as a local quake.

Currently, the only mass public notification is possible through a mobile app developed for the city of Los Angeles and functional only within Los Angeles County.

The ShakeAlertLA app did not send alerts for last week’s two big quakes, but officials said it functioned as designed because the expected level of shaking in the LA area —more than 100 miles from the epicenters—was below a trigger threshold.

Th re s h o l d s fo r a l e r t i n g a re important because California has daily earthquakes.

“Imagine getting 10 ShakeAlerts on your phone for really small earthquakes that may not affect you,” de Groot said. “If people get saturated with these messages it’s going to make people not care as much.”

In the Mojave Desert on Monday, rattled residents cleaned up and officials assessed damage in the aftermath of Thursday’s magnitude 6.4 earthquake and Friday’s 7.1-magnitude quake centered near Ridgecrest.

President Donald J. Trump on Monday declared an emergency exists in California because of the quakes, paving the way for federal aid. The declaration authorized the Federal Emergency Management Agency to coordinate disaster relief efforts.

It could be several more days before water service is restored to the small town of Trona, where officials trucked in portable toilets and showers, said San Bernardino County spokesman David Wert.

Ten residences in Trona were red-tagged as uninhabitable and officials expect that number to increase as inspectors complete surveys. Wert said he’s seen homes that shifted 6 feet (nearly 2 meters) off their foundations.

Electricity was restored to Trona over the weekend, allowing people to use much-needed air conditioners as daytime temperatures approached 100 degrees (38 Celsius). AP

ONG KONG­— Hong Kong leader Carrie Lam said Tuesday that the effort to amend a highly contentious extradition bill was dead, but it wasn’t clear if the legislation was being formally withdrawn, as protesters have demanded. Leaders of the monthlong protest movement vowed to keep up pressure until the legislation is officially revoked.

Lam acknowledged at a news conference that there were “lingering doubts about the government’s sincerity or worries whether the government will restart the process in the Legislative Council.” But she said: “I reiterate here, there is no such plan. The bill is dead.”

Hundreds of thousands of people in the semi-autonomous Chinese territory have protested against the extradition legislation and have expressed growing fear that Hong Kong is losing the freedoms guaranteed to it when the former British colony was returned to China in 1997.

Protest leaders Jimmy Sham and Bonnie Leung said Lam was being hypocritical in claiming to have met protesters’ demands without actually speaking to them directly.

“Instead, she should really stand out and talk to the young protesters,”Leung said. “The young protesters have been out in the street outside her house, outside government headquarters, for weeks, roaring to be heard.”

The extradition legislation would a l l ow c r i m i n a l s u s p e c t s to b e extradited to mainland China to face what critics fear would be unfair and politicized trials and would target opponents of China’s ruling Communist Party. AP

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Integrity of PHL’s quarantine protocol

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HE Department of Agriculture’s reaction to the discovery of banned pork products in a shipment of German meat was swift: It disallowed all other traders from Germany to export their meat products to the country. The measure, which took effect as soon as the agriculture chief announced it, is temporary. However, it will surely hurt because Germany is the second top source of meat imports for the Philippines.

Last year, the Philippines bought 88 million kilograms, or 88,000 metric tons (MT), of meat products from Germany (see, “PHL bans German meat for quarantine breach,” in the BusinessMirror, July 4, 2019). The volume of meat bought by the Philippines from Germany translates to big business for a number of German meat traders. The unintentional mistake of one German firm, which resulted in the inclusion of banned Polish pork in its shipments, would certainly cost its counterparts a lot of money.

This should serve as a warning to the country’s other trade partners that Manila will not hesitate to impose a blanket ban on their meat products if they violate Philippine quarantine laws. While African swine fever (ASF) is a disease that is fatal only to hogs, it could wipe out stocks in farms and the impact of outbreaks on the country’s food supply could be felt for years. Just look at China, which failed to contain the dreaded hog disease. The death of millions of hogs sent Beijing hunting for sources that can supply the huge requirement of the Chinese for pork.

Philippine officials, particularly quarantine officers stationed in Cebu, deserve to be praised for their alertness in apprehending the shipment containing banned pork products. To the credit of the German firm, it immediately apologized after the Philippine government called its attention to the quarantine breach. The incident, however, is alarming because it shows that mistakes do happen and the Philippines must always be vigilant as it can’t afford to let its guard down.

This incident should prompt the government to speed up the implementation of anti-ASF programs.

The Bureau of Animal Industry (BAI) has already drawn up an ASF plan, which details strategies for preventing the entry of the disease.

It’s just a matter of funding the interventions aimed at protecting the P200-billion domestic hog industry. The national government must immediately release the P85 million requested by the BAI to implement the anti-ASF measures starting this month.

The government must also step up efforts to fight smuggling as the ASF virus could be transmitted even by fomites, or nonliving objects, such as shoes and knives. It must strengthen maritime patrols along the country’s porous borders to discourage criminals from bringing items into the country that could introduce ASF. All illegal shipments apprehended by authorities must never be allowed to leave the ports.

It cannot be emphasized enough that the ASF has the potential to decimate local hog farms, most of which are owned by backyard raisers who may not recover from an outbreak. The spread of the dreaded hog disease will not only threaten the country’s food supply and raise food prices; it could also act as poverty trap for backyard raisers.

Since 2005

BusinessMirror A broader look at today’s business

Penalty condonation is always a ‘win-win’ program Aurora C. Ignacio

All About Social Security

P

ENALTIES are imposed when one reneges on an obligation or a commitment. And the burden on added payments causes deeper problems.

In Social Security System, for example, based on the old Republic Act (RA) 8282 or the Social Security Law of 1997, a 3 percent penalty per month is imposed on unpaid contributions. This causes dilemma for both employers and employees. For employers, the penalties are higher than the actual premiums that they have to pay, making it doubly difficult for them to settle their SSS obligation. Worse, violation of the SS Law has civil and criminal liabilities, with imprisonment ranging from six to 12 years, and a fine of P5,000 to P20,000.

On the part of the employees, there is usually a delay in processing of claims since SSS has to establish first the employment relationship, including computation of unpaid contributions.

On that note, our lawmakers who painstakingly authored RA 1119

or the Social Security Act of 2018 headed by Sen. Richard Gordon recognized this problem. The transitory clause of the new law provided that a contribution penalty condonation program (CPCP) for employers be implemented for six months from the effectivity of the law in March until September 2019.

This condonation program is obviously a win-win for both employers and employees while helping the pension fund collect from delinquent employers sans the lengthy judicial process.

Under SSS Circular 2019-004, qualified to avail themselves of CPCP are employers who have not yet registered with SSS, including household employers.

I cannot overemphasize how important for household employers to avail themselves of this contribution penalty condonation program.

Dear Isko

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H

I Isko!

It’s been a while. We were together in the senatorial slate of Sen. Grace Poe and Sen. Chiz Escudero, back in 2016.

I loved listening to your life story then, and to see it unfold in the brightest direction now is truly amazing. Your journey from the slums of Tondo to the edifice of city hall is proof that nothing is impossible.

I see some facets of my father in you. He was a poor boy from Hagonoy who had to work as a stevedore at North Harbor. Unable to pay for college, Ka Blas found intellectual redemption in books and public libraries. You are a student of life, having finished high school, seeking higher learning when your life got better and upon the advice of your mentor, the kind-hearted Mayor Danny Lacuna.

Now you are the mayor and father of the nation’s most historic city. As you do your best to improve Manila while preserving its character, know that the world is your audience. For most foreigners, the Philippines is Manila. I am glad that you are giving our capital city a good scrub, and

ecstatic that the Manila Zoo revival is high on your list of priorities.

But keep your feet on the ground and your ears always open. Do not succumb to the secluded bliss of having a cordon sanitaire. They will try their best to protect you but also because this gives some of them the power to strut. And, strut they will.

You know Manila like no one else will. You have infinite stories to tell about your childhood and growing up years. Being an actor may have given you the skills and aptitude to communicate, but those stories are all yours. Use them. Keep reminding young people not to fear big dreams, because the bigger dreams are the best ones to catch.

Regardless of the number of years that their kasambahay has served their family, they could register now and settle the unpaid premiums of their household help. As a member of SSS, a kasambahay is entitled to the seven benefits of the pension fund— sickness, maternity, unemployment, disability, retirement, funeral and death claims. Since the employer also pays the Employees’ Compensation Program, a kasambahay is also qualified for EC benefits in case of a workrelated accident or illness.

The CPCP could also be availed of by employers who have pending or approved proposals under the installment scheme of SSS, including those with pending or approved applications under the program for acceptance of properties through dacion en pago.

Even delinquent employers with cases pending before the Social Security Commission, Courts or Office of the Prosecutor involving the collection of contributions and/or penalties, and those against whom judgment has been rendered but have not complied with the judgment can also apply for the one-time amnesty program on unpaid contributions.

Also qualified to avail themselves of CPCP are employers who have settled all contributions before the effectivity of RA 11199 but with unpaid penalties, as well as those who were given a Warrant of Distraint/

Levy/Garnishment or encumbrance.

Personally, I am still not happy with the numbers because only 16,460 employers have so far applied to this condonation program. Based on established collectibles, there are still more than 115,000 delinquent employers who should avail of this program.

Employers need not worry that SSS will demand the full amount of unpaid contributions immediately. They only have to submit an installment payment proposal to the head of the SSS Branch/Office or Large Account Department. The installment payment scheme only carries a small interest rate of 6 percent per year.

Once the branch has accepted the payment proposal, SSS only requires a minimum down payment equivalent to at least 5 percent of the total contribution delinquency. A promissory note must also be submitted with intent to pay the balance of the delinquency in equal monthly installments within a period of four years, with the first monthly installment paid within 30 days after the date of approval of the proposal.

Helping employees save with SSS by paying their monthly premiums demonstrates an employer’s malasakit or utmost concern. It is not just about compliance with the law but cultivating a caring, harmonious relationship, a win-win for everyone.

Tap the best minds regardless of political persuasion. Don’t hesitate to ask the best of the best a multitude of questions. Remember the learning atmosphere at the Kennedy School of Government? Be fierce in putting together an education program of that caliber not just for the young people but also even for our senior citizens. As my father used to say, education is for life.

Have a job count. Everyday. How many of your constituents were able to secure a job interview in Manilabased companies? How many more can be hired if only they are prepped well enough to pass that golden interview? New jobs created mean more revenues for the household and the city. It is the proverbial tide that will lift all boats. Come up with an online Trabaho Central. Know who your workers are per barangay. With technology, everything is possible.

Also, please know this. Illegal recruitment thrives inside your territory. There are a lot of licensed recruitment agencies that are foreign-owned, with several foreigners occupying tables and interviewing recruits, a practice that is very much against existing POEA rules. Declare a war on illegal recruitment, and all recruitment agencies operating within your city must also be required to obtain city permits for the accommodations where domestic workers

applying for jobs overseas are kept.

Humane conditions must prevail, even if these houses or tenements are rented by recruitment agencies.

Welcome our tourists back to Manila. Some of them may still remember the Luneta hostage-taking incident. Develop new experiences for them to savor—have the best city tours in Asia. Make every historical and tourist site, “Instagrammable.” Free use of selfie sticks for tourists that they can just pick up and return before they leave, personalized welcome cards from the mayor for every tourist that checked in at a Manila-based hotel, and midnight walks along Fort Santiago with troubadours that can serenade couples with our best kundimans—your city can rival the best of the best when it comes to memorable experiences.

I do worry about you. I worry that all the high-octane publicity would wear you out, or even wear us out.

We know that in politics, the higher you rise, the greater and more dramatic the fall. Avoid the fall. Do not be sucked in by all these talks about the presidency. You were one of the hardest-working senatorial candidates in 2016. I really thought you would make it. Now it is clear why it was not meant to be. God had His reasons. Trust Him. See “Ople,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

The short road from Libor’s Cancer insurance death to ‘Armageddon’

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By Mark Gilbert | Bloomberg Opinion

HEN law firm Linklaters decided to organize a seminar about the forthcoming demise of Libor last week, it planned to hold the event in its London auditorium, which seats about a hundred people. After more than 500 attendees signed up, it was forced to move to a larger venue.

Thursday’s packed attendance at the Honourable Artillery Co.’s headquarters strikes me as testament to how corporate treasurers, bankers, accountants and consultants are belatedly realizing the scale of the task finance faces in replacing what was dubbed—and still arguably is—the world’s most important interest rate.

But the awakening may still have come too late to avoid a chaotic and expensive denouement to the benchmark.

The borrowing costs known as the London interbank offered rates are embedded throughout the DNA of finance.

Untangling them, after the Financial Conduct Authority’s announcement two years ago that they’ll be phased out by the end of 2021, is proving difficult through a combination of apathy, complexity and a lingering hope that Libor will somehow limp on in some form or other.

In the worst-case scenario, the disappearance of Libor could lead to the courts ruling that some existing contracts are deemed to have been frustrated. In legal terms, that happens when an event either makes enforcement of a contract impossible, or completely undermines the contract’s original intentions. This would place the market in largely uncharted territory—“contractual Armageddon,” in the words of Rick Sandilands, senior counsel, Europe at the International Swaps and Derivatives Association.

The most extreme outcomes could be for the frustrated contracts to be unwound as if they never happened in the first place, or a court trying to account for the various benefits that had accrued during the contract’s life to come up with a settlement that treated parties to the agreement fairly.

It’s an unlikely, though not impossible, scenario. But many of the legal experts who spoke at the Linklaters conference discussed the need for flexibility when writing or amending contracts that run past Libor’s end-date, because it’s still not 100 percent clear what form the replacement interest rate will eventually take, especially given that different countries are seeking different solutions. And where a lawyer sees elasticity, a hedge fund may see potential profit. There’s a nonnegligible risk that where a contract change creates a winner and a loser in financial terms, litigiously minded mischief-makers may try their luck.

Even without that doomsday outcome, rewriting contracts that refer to Libor is fraught with byzantine convolutions. Take, for example, a syndicated loan that pays interest based on Libor and was used to finance a toll road in Spain. Changing the terms probably requires the consent of the syndicate of banks that arranged the loan, as well as the borrower, as well as the providers of any hedging agreements

Ople. . .

continued from A10 Local government now has a national face and it’s yours. So shine!

I am sure that you have no shortage of people offering you advice.

I am sorry to be adding myself to this list. Because of you, we have become emotionally invested in the transformation of Manila. So stay away from the pettiness of previous political skirmishes. Dream biggest now. You have an entire city to care

undertaken, and maybe the agreement of the Spanish local authority that leased or sold the land the road is on.

Now multiply that across the entire project finance universe to see the complexity of the shift to new benchmark borrowing costs.

There has been some progress in persuading UK companies to adopt the Sterling Overnight Interbank Average rate, the preferred replacement for Libor. Last month, Associated British Ports Plc. switched its £65 million ($81.4 million) of floating-rate notes to making interest payments tied to Sonia rather than Libor. And last week, National Express Group Plc. took out the first Sonia-based loan, from Royal Bank of Scotland Group Plc.’s NatWest unit.

While both are desirable developments in the shift to the overnight benchmark, a few deals do not a transition make. Linklaters estimates as much as $2 trillion of loans risk being left “in limbo” by Libor’s demise. And while more than 40 new sterling floating-notes tied to the new benchmark have been sold this year, there are billions of dollars, pounds and yen of outstanding notes that still base their payments on Libor—as much as $864 billion worth, according to the International Capital Markets Association.

The logistical difficulty of rounding up the disparate investors in those securities to get them to agree to change the reference benchmark is daunting, to say the least. Moreover, even when the paperwork contains language about what to do if Libor isn’t available, that documentation was designed for brief periods of absence, rather than envisaging a world without Libor.

In many cases, the interest payments revert to a fixed rate based on the final Libor determination—again creating the prospect of legal action from financially disadvantaged actors, legitimate or otherwise.

Edwin Schooling Latter, the FCA’s director of markets, warned last week’s conference participants that they can expect “a lot of supervisory interest” if the regulator decides customers are being gauged by members of the finance community gaming the changes. He was adamant, meantime, that participants should come up with market solutions to the realignment rather than relying on the regulator to intervene.

“I love deadlines,” wrote Douglas Adams, the British author of books including the Hitchhikers Guide to the Galaxy. “I love the whooshing noise they make as they go by.” With less than two-and-a-half years before Libor’s scheduled death, the explosion in the world of finance if it arrives at the deadline without more preparation than is currently happening will be somewhat louder than a whoosh.

for. From the time you were born, the poetry of a remarkable life runs in your veins, so make it rhyme and offer each verse to the Lord. Never forget that Isko is His creation. Make Him and all of us proud.

Congratulations and Good luck!

Toots J Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues.

She also represents the OFW sector in the InterAgency Council Against Trafficking.

INSURANCE FORUM

A

CCORDING to the Philippine Cancer Society, in 2012, at least 13 out of 100 males and 14 out of 100 females in the Philippines would have some form of cancer if they lived up to age 75. Eleven out of 100 males and seven out of 100 females would die from cancer before the age of 75. One out of two Filipino cancer patients die within a year after diagnosis. According to the Cancer Coalition Philippines (CCP), seven Filipino adults are dying of cancer every hour. According to the World Health Organization, the number of cancer cases in the Philippines for 2018 was 141,021, with 86,337 deaths. Cancer is now the third-leading cause of morbidity and mortality in the Philippines, after communicable diseases and cardiovascular diseases.

Bloomberg Opinion

M

OST people will be happy to see the back of the combustion engine. Cleaner air and less dependence on oil are good reasons to look forward to the mass adoption of electric cars.

But for the 3 million or so Europeans

working in the auto industry, the transition to the new technology is a source of great anxiety. While the numbers are hotly debated, carmaker jobs will probably become scarcer because electric vehicles need fewer parts and less maintenance than their gas-guzzling predecessors.

With automation, Brexit, and President Donald J. Trump’s tariff wars all

percent), stomach (9.5 percent), others include leukemia, and non-Hodgkin lymphoma. For females, the most common are breast (24.2 percent), cervix uteri, lung, ovary and thyroid.

Worldwide, breast cancer is the second most common form of cancer among women. But the Philippines had the highest prevalence of breast cancer among 197 countries in 2016.

While many types of cancer are curable, survivorship rates in the Philippines is low. For women suffering from breast cancer, survivorship rate is at 63 percent, while it is 89 percent for Americans. For men suffering from prostate cancer, survivorship rate is 47 percent, while it is 89 percent for Australians. For childhood leukemia, survivorship rate is only 27 percent, while it is 92 percent in Germany.

A CHEMOTHERAPY treatment can range from P100,000 to P150,000 per session. The financial burden of cancer treatment can be catastrophic. The more advanced the cancer stage upon diagnosis, the odds of death is five times more and the odds of financial catastrophe is 50 percent higher. In a study by the George Institute for Global Health, it was found that after one year from diagnosis, 48 percent of patients will experience financial catastrophe.

At least 44 percent of patients who had no hardship within the first 12 months would experience hardship after 12 months for having used up their savings. More alarmingly, older patients (more than 65 years) were more likely to experience financial catastrophe and death than patients under 45 years. Financial catastrophe can be predicted with low income being the key factor and lower education levels being “significantly associated ” with higher odds of death and financial catastrophe. And most important, perhaps, those without some form of health insurance were more likely to experience financial catastrophe than those with insurance.

Optimistic view

CANCER, if detected early, is preventable and treatable. Researchers have estimated that over half of cancer cases, and over half of cancer deaths, are preventable. However, there is a low cancer prevention consciousness in the Philippines. Hence, the greatest barrier to cancer avoidance is delayed diagnosis. According to Dr. Tran van Thuan of Vietnam,

“Around 70 percent of patients diagnosed with cancer are already at stage three or four, leaving the percentage of those who can be effectively treated low.” Under Republic Act 11215, or the National Integrated Cancer Control Act, cancer patients and survivors will be considered as Persons with Disabilities and shall enjoy all the benefits accordingly. Together with the mandated Philippine Cancer Center under the Cancer Control Act, the Ayala Healthcare Holdings Inc. (AC Health) will be introducing the first cancer specialty hospital in the Philippines at an investment of around P2 billion.

Cancer insurance products in PHL

THE usual health insurance products do not cover instances of cancer. This makes the procurement of cancer insurance imperative. In most instances, those with preexisting cancer may not be eligible for coverage. There are several insurers offering cancer coverage in the Philippines. Philam Life offers “Cancer Life Shield,” an annually renewable health insurance plan which covers expenses incurred due to cancer. Sun Life cancer insurance policy provides fixed benefits for early detection and treatment of cancer. Benefits are paid directly to the insured. FWD Life Philippines offers “Fight Plan,” a cancer protection plan that guarantees 15 years of financial support upon diagnosis with benefits of up to P2 million.

Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016.

E-mail: dennisfuna@yahoo.com.

Good luck to Trump’s new census lawyers

opinion left open the possibility of such a redo. If the Trump administration could give its real, true reason for putting the citizenship question on the census—and if that rationale was lawful and constitutional—then the district court could in theory approve the question.

The two looming problems for the Trump administration were time and the rationale itself. To get the Supreme Court to take the census case quickly, direct from the district court and skipping entirely over the court of appeals, the Department of Justice had told the court that it was effectively an emergency: The census forms had to be sent to the printer at the end of June to be ready for the 2020 count. If that was true—and the Justice Department is supposed to tell the truth when it’s explaining itself to the Supreme Court— then it was essentially too late to go through a protracted legal process to add the question.

To make matters worse, the fact that the Supreme Court upheld the lower court ruling that Ross’s rationale was a “pretext” (legal-speak for a lie) gave the Justice Department lawyers the unenviable task of going to

their client, Ross, to ask what his real motive had been.

A few days later, on July 2, the Department of Justice dealt with these two problems by announcing it was giving up the case and wouldn’t ask for further legal review to get the citizenship question added. President Trump (on Twitter of course) then asked the Justice and Commerce departments to keep fighting. The next day, July 3, Trump denounced his own Justice Department’s official announcement as fake news, probably reaching a new height of absurdity in his use of the term. And so the Justice Department told the district court it wasn’t dropping the issue after all—but that it didn’t yet know what it would be saying when it came back to court.

Apparently the long holiday weekend didn’t yield any breakthroughs for the original legal team—because on Sunday, July 7, the Department of Justice announced the lawyers had been switched out.

Reading the tea leaves, we can first predict that Department of Justice is getting ready to tell the courts that it doesn’t need to print the census forms right away, despite what it told the Supreme Court. That is going to yield the lawyers some tough questioning and skepticism from the district court. It could also yield some skepticism from Roberts himself if the case gets expedited back to the justices again.

Either the old lawyers wouldn’t get up in court and say they had lied before. Or else the Trump Department of Justice bet that it was a bad idea to send the same lawyers to say the same thing.

Regardless, it would be a very bad look for the Department of Justice to admit it misled the Supreme Court to get the court to take a case without

going through the usual appellate process. Even if the court’s die-hard conservatives are willing to cast a blind eye on this conduct, Roberts won’t like it.

More important, it undermines the credibility of the Department of Justice in all future cases before the Supreme Court.

The second likelihood we can glean from the tea leaves is that the Justice Department is poised to offer some new rationale for adopting the question.

It’s impossible to know for sure what that will be. But here’s one idea: The administration could state that it wanted to add a citizenship question in order to encourage states in the future to create legislative districts based on the population of citizens, not of all residents.

This was the rationale first proposed by the late Thomas Hofeller, the Republican strategist who seems to have come up with the idea—at least according to documents on a hard drive that his daughter inherited from him and made available to the lawyers in the census case this spring.

According Hofeller’s suggestion, this approach to redistricting would benefit the representation of Republicans—and white non-Hispanics.

The administration might try to adopt the constitutional part of the Hofeller rationale (benefiting Republicans) while dropping the unconstitutional part (benefiting white people).

Apart from this risky distinction, there’s one further problem. After the hard drive was released, but before the Supreme Court ruled, the Department of Justice stated that Hofeller’s document “played no role in the department’s December 2017 request to reinstate a citizenship question to the 2020 decennial census.”

Maybe new lawyers can walk that one back, too.

ing to safeguard decent blue-collar jobs to counteract the appeal of populist rivals.

Policy-makers need to raise their game. So far they appear to be just muddling through this epochal challenge for the continent’s manufacturers. Witness the counterproductive interference by Paris in Fiat Chrysler Automobiles NV’s attempt to merge with Renault SA, a deal that was meant to create

a company better equipped to deal with the industry’s transformation.

The speed at which technology disrupts companies often catches politicians and workers unawares. While governments haggle over whether carbon-neutral targets should be 2050, 2040, or earlier, carmakers and other manufacturers are already redirecting vast amounts of capital to get ahead of

consumer demand for cleaner products.

Volkswagen AG, for example, has pledged $34 billion of electric car spending.

According to data from Bloomberg NEF, large electric vehicles might be cheaper in the EU than their combustion-engine counterparts by as early as 2022. The estimate was 2026 just two years ago, which shows how fast things are changing.

Noah Feldman

BLOOMBERG

W

E don’t know whether the Department of Justice lawyers working on the census case were fired en masse or quit.

Either way, Sunday’s announcement was a genuinely shocking development in President Donald J. Trump’s efforts to add a citizenship question to the 2020 count. It’s bizarre to the point of being unprecedented for the government to change horses like this in the middle of such a highly time-sensitive legal process.

The move signals that the Trump administration is very likely on the way to making some doubtful legal claims—claims that will have to be in stark contradiction to what the Department of Justice has already said to the federal courts, including the US Supreme Court, in a lawsuit brought by civil-rights groups trying to scrap the question.

On the last day of its term, June 27, the Supreme Court held in an opinion

by Chief Justice John Roberts—joined by the court’s four liberals—that Commerce Secretary Wilbur Ross had not given an honest explanation for why he wanted to put a citizenship question on the 2020 census in the first place. Roberts also held—in a section of his opinion joined by the court’s four other conservatives—that, in principle, there is nothing unlawful or unconstitutional about asking people for their citizenship on the census.

Roberts sent the case back to the district court in New York.

Under ordinary principles of administrative law, the government sometimes gets a redo after its actions are blocked for failing to follow proper administrative procedure. Roberts’s

The true price of electric cars

By Lionel Laurent

Financially catastrophic

Atty. Dennis B. Funa

Globally, it was estimated that there were 18.1 million new cases of cancer and 9.6 million deaths due to cancer in 2018. The global figures for the so-called five-year prevalence, meaning those who are still alive within five years of a cancer diagnosis, was estimated at 43.8 million people in 2018. For the Southeast Asian region, it was estimated that there were 770,000 new cases of cancer and 527,000 cancer deaths in 2012. It is estimated that new cases will rise by about 70 percent by 2030 to reach 1.3 million.

According to the CCP, the five most frequent types of cancer are that of breast, lung, liver, prostate and cervix uteri. For males, the most common cancer are lung (14.5 percent), prostate (13.5 percent), colorectal (10.9 percent), liver (10.2

Wednesday, July 10, 2019 A11

hitting the European sector too, things look bleak for auto workers. Ford is slashing 12,000 jobs on the continent (carmakers cut 38,000 jobs globally in the six months to May). The wider industrial background is little better: Manufacturing as a share of European Union GDP fell from 19 percent to 14 percent between 1991 and 2018. None of this is ideal for mainstream political leaders who are try-

2nd Front Page BusinessMirror

A12 Wednesday, July 10, 2019

National ID system, census of population to cost ₧25B

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By Cai U. Ordinario

@caiordinario

HE national government will spend P25.23 billion for its various statistical activities, including the implementation of the National ID System and the conduct of a census on population and housing units in the Philippines, in 2020.

The rollout of the Philippine Identification System (Philsys) and the conduct of the Census of Population and Housing (CPH) next year was based on Resolution

No. 8, Series of 2019, released by the Philippine Statistics Authority (PSA) Board.

“The PSA, cognizant of the importance of ensuring a linkage

between planning and budgeting, defined the budgetary thrusts of the PSS [Philippine Statistical System] for FY 2018 to 2020 through PSA Board Resolution No. 02, Series of 2017—Approving the Budgetary Thrusts of the Philippine Statistical System for the Period 2018 to 2020,” the resolution read.

The budget is composed of the allocations for the PSA worth P25.19 billion, and P548.69 million for eight other government line agencies for their statistical activities.

The Bureau of Customs was given P5.55 million; Commission on Higher Education, P34.66 million; and the Department of Environment and Natural Resources

(DENR), P330.21 million.

The list also includes the Department of Information and Communications Technology with a budget of P75.74 million; Department of Energy, P7.06 million; Department of Health, P107.78 million; Department of Justice, P8.18 million; and the Philippine Statistical Research and Training Institute, P20.28 million.

The PSA said 10 agencies responded to its budget call for Tier 2 or new statistics budget among agencies. It added that the budget of the National Economic and Development Authority (Neda) was not approved, while the amount sought by the DENR was not granted in full.

See “ID system,” A2

‘No term sharing for House committee chiefs’

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OLLOWING the term-sharing proposal of President Duterte, the 54 -member Party-list Coalition on Tuesday appealed to Taguig Rep. Alan Peter Cayetano and Marinduque Rep. Lord Allan Velasco to ensure consistencies in committee chairmanship this 18th Congress.

1-Pacman Rep. Michael Romero,

president of the Party-list Coalition, said consistencies are important for smooth and fast approval of priority measures.

“For us congressmen, we like to make it as consistent as possible. If they will choose the chairmanship it should be for three years because it is very hard to change midway,” said Romero. The 18th Congress

will have 60 standing committees and 15 special committees.

The Party-list Coalition is asking for a 20-percent allocation or 15 committee chairmanships of the House of Representatives.

Delays

EARLIER, Albay Rep. Joey Salceda admitted that the organization

of the House of Representatives is now facing delays due to the speakership issue.

According to Salceda, there’s a little time left after the election of the Speaker since the organization of the lower chamber is first on the agenda when the 18th Congress convenes on July 22.

See “No term sharing,” A2

Senator: Cut poll contract of Smartmatic SOUTHWEST MONSOON AFFECTING EXTREME NORTHERN LUZON as of 4:00 pm - July 9, 2019

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EEKING to end Smartmatic’s existing poll contract, neophyte Sen. Imee Marcos is asking Congress to pass remedial legislation allowing the entry of other automated election system (AES) service providers, well in advance of the next electoral exercise.

In filing Senate Bill 221, Marcos aims to cut short “Comelec bondage to Smartmatic and render Philippine elections more transparent and reflective of the people’s will.”

SB 221, if passed into law, will strike out a provision in Republic Act 9369 barring other service providers from participating in a Comelec bidding leaving Smartmatic as “the only available choice,” Marcos said. “Dahil sa probisyong ito, wala nang pipiliing iba ang Comelec kundi Smartmatic,” she said, adding: “Inilagay sa batas ang Smartmatic control sa automated elections ng ating bansa. [Because of this provision, Comelec won’t pick any other supplier except Smartmatic. They legislated Smartmatic control of automated elections in the country].”

The senator specifically cited Section 12 of the Election Law that, she said, “in effect, sets a pre-condition before an AES can be considered” for use by the Comelec, as it requires that the AES should have “demonstrated the capability and had been successfully used in a prior electoral exercise here or abroad.”

This provision, Marcos observed, “narrowed the field of qualified service providers to Smartmatic alone and negates the entire purpose of setting other technical requirements in choosing an AES provider.”

Amending this provision, she asserted, will give other AES providers the chance to be chosen by Comelec and will “pave the way for more transparent elections.”

In a statement, Marcos added that the “clamor to ban Smartmatic has grown because of alleged widespread cheating” in the May 9, 2016 elections, recalling that President Duterte himself told Comelec in a speech last May to “dispose of that Smartmatic and look for a new one that is free of fraud.” Butch Fernandez

www.businessmirror.com.ph

NEW BOOK WITH TRAIN LAW CHANGES IN TAX CODE SEEN AS ‘BIBLE’

ATTY. Benedicta “Dick” Du-Baladad (left), founding partner, chairman and CEO of BDB Law joins WTS Global CEO Wim Wuyts in leading the unveiling of the book, The Philippine National Revenue Code as Last Amended by RA 10963 (TRAIN law), during the 10th Anniversary of BDB Law Du-Baladad and Associates in Makati City on Monday night. ROY DOMINGO

By Rea Cu

A

@ReaCuBM

SPECIALTY book on the country’s internal revenue code as amended by the Tax Reform for Acceleration and Inclusion (TRAIN) law may well serve as the tax bible in the country.

That’s the hope of Du-Baladad and Associates (BDB Law), which published the book as part of its 10th anniversary this week.

During the BDB Law anniversary celebration in Makati City on Monday night, BDB Law Founding Partner and CEO Benedicta Du-Baladad explained: “On this 10th year, we are launching our fifth book the national internal revenue code at last amended by TRAIN. We del iberately publ ished this knowing fully well that the three remaining packages of the TRAIN are still in the works. We need not wait. There are demanding amounts for reference materials post-TRAIN and this is our response. The annotations are designed not for academic or technical dissertation but more of a guide to complying with one’s obligation to pay the correct taxes.”

She explained that the book is intended to help in terms of taxpayer education and promote proper tax compliance, adding that proper tax collection is not just the responsibility of the government but of the whole society as well, with tax practitioners being in a position to somehow influence taxpayer behavior.

“Unlike our other specialty

China. . .

Continued from A1

partly attributed the sluggish arrivals from Singapore to the absence of a marketing representative. (See, “DOT seeks higher arrivals from Asean,” in the BusinessMirror, July 1, 2019.)

Tourism Secretary Bernadette Romulo Puyat said in a news statement, “The numbers are very encouraging. From 3,178,984 tourists recorded from January to May in 2018, we are already close to breaching the 3.5 million mark this year.

This only shows that the preservation of our environment can go hand in hand with economic gains.”

The DOT chief also noted that for May alone, arrivals grew by an “impressive” 15.62 percent to 621,719 this year, compared to the May 2018’s less than 1-percent rise to 537,743.

As with the five-month period, arrivals in the month of May were

books, this is meant to be our tax bible. The TRAIN is an important piece of legislation, the answer to our country, for a simple, efficient and equitable tax system which for a long time fell on deaf ears. I also have a dream...a tax system that serves as a catalyst for inclusive growth, one that reduces rather than widens the gap between the rich and poor, one that propels economic growth rather than stifle it, one that is simple, equitable and fair.

I hope that the tax reform of the government is aligned with mine,” she added.

The TRAIN law was signed into law by President Duterte in December 2017 and took effect in January 2018.

The measure slashed personal income tax rates while implementing offsetting measures, including increasing the excise tax rates on petroleum and tobacco products, among others.

The TRAIN forms the first package under the Comprehensive Tax Reform Program (CTRP) of the Department of Finance (DOF).

Other tax-reform packages under the CTRP that have yet to be passed by Congress include: Package 1B, which includes increasing the motor vehicle users charge, lifting of the bank secrecy law and automatic exchange of information; Package 2, which focuses on lowering corporate income tax and the rationalization of fiscal incentives; Package 3 on property valuation; Package 4 on financial taxes; and Package 2 Plus, which includes taxation on alcoholic beverages. powered by China, which increased 67.52 percent to 130,788. This was followed by South Korea, with a 21.81-percent rise to 138,239 arrivals. While the US remained the third top source market for tourists for the Philippines, arrivals in May 2019 slipped 1.91 percent to 90,979. This was followed by Japan, with arrivals up 1.64 percent to 46,495; and Taiwan, with a 38.24-percent growth to 25,637.

The higher month-on-month increase in total inbound tourists indicates the possibility of the arrivals growth finally catching up with last year’s expansion. Total arrivals from January to May 2019 grew by 9.76 percent, slightly lagging behind the 10.24-percent increase in the same period in 2018.

Under the National Tourism Development Plan for 2016 to 2022, the DOT is targeting an increase in foreign tourists to 8.2 million this year, by 14.4 percent from last year’s 7.17 million.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, July 10, 2019

B1

ECC for SMC Bulacan airport plan justified, but draws flak

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HE Department of Environment and Natural Resources (DENR) has issued an environmental compliance certificate (ECC) for food and beverage conglomerate giant San Miguel Corp.’s (SMC) P700-billion airport project in Bulakan, Bulacan.

In a statement, San Miguel said, “Our proposal for the New Manila International Airport [NMIA] project is still currently undergoing a Swiss challenge. We would like to assure everyone that we will work closely with all stakeholder groups to make sure this vital infrastructure project will be sustainable and will deliver positive economic, social and environmental benefits.

“The NMIA project, a P14-billion investment, will be our largest contribution to the Philippine economy thus far. It’s a project that will benefit not just us today, but many future generations of Filipinos.

“It will generate about a million jobs and jump-start economic growth in Bulacan and neighboring provinces. Apart from improving tourism and addressing congestion problems, it will boost small local industries, manufacturing, exports and possibly give rise to new ones.

We are committed to helping the government deliver on our nation’s goals and helping the local communities thrive and improve their quality of life.

Gardenia opens Pampanga factory

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ABALACAT,PAMPANGA—Gardenia Bakeries Philippines Inc. is targeting to hit P8 billion in sales this year after beefing up its production capacity with the inauguration of a new facility here.

Gardenia on Tuesday opened its new fully automated facility here that can produce up to 400,000 loaves and buns a day. This was the second manufacturing plant the bread maker opened in the first half of the year, as it eyes to expand its distribution by delivering to smaller markets in the north.

Gardenia President and General Manager Simplicio P. Umali Jr. told reporters the Pampanga plant will poise the firm to achieve its sales target of P8 billion this year.

“Our total capacity is 1.8 million loaves and buns a day [with] all our factories together combined. In terms of peso sales, last year we sold close to P7 billion,” Umali said.

“By this year, we hope to close the year with about P8 billion in value in terms of sales,” he added.

Umali said Gardenia invested over P2 billion for the Pampanga plant and its distribution equipment. When fully operational, the manufacturing plant will run three shifts a day to reach its maximum production capacity of 400,000 loaves and buns daily.

This will enable Gardenia then to transport bread even to the smaller and more remote markets, mostly in the Cordilleras, such as Mountain Province and Ifugao.

“Right now, it is running at one to two shifts.

There are days when [it] runs two shifts, [and there are] days it is running in one shift. It will run already to two shifts continuously starting by the end of this week. [After] a few months from now, maybe [it will run] into three shifts already,” Umali said.

“We are going to infiltrate even the smaller markets, such as Ifugao. These [markets] are very difficult areas to reach,” he added. “We will now start reaching these areas.”

In spite of a better production capacity and wider distribution network, the Gardenia chief disclosed profiting is becoming difficult for the firm. Elijah Felice E. Rosales

Dubbed the Bulacan Aerotropolis, the multibillion-peso project is being strongly opposed by militant fishers under the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), slamming the DENR for giving businessman Ramon Ang’s SMC the green light to proceed with the project, which they claimed requires massive land reclamation within a 2,500-hectare fishpond area in the coastal barangay of Taliptip.

The project will decongest air traffic at the Ninoy Aquino International Airport (Naia) in Pasay City and will also help improve traffic in Metro Manila as travelers going in and out of the National Capital Region (NCR) via airplane will be diverted to Bulacan, a province outside but still near the country’s capital region.

The group issued the statement in reaction to a news report that the DENR Central Luzon led by its Regional Executive Director Lormelyn Claudio approved the ECC of Silvertides Holdings, which is reportedly linked to SMC. Silvertides Holdings had reportedly acquired fishponds covering

around 2,000 hectares in the areas to be developed as part of the project.

Pamalakaya said around 700 fishing and coastal families in seven sitios of Barangay Taliptip in Bulakan are threatened to be displaced by the project.

In a statement, Pamalakaya said the Bulacan Aerotropolis is the fourth reclamation project to be given an ECC by the DENR.

Not reclamation

SOUGHT for reaction, DENR Undersecretary Benny Antiporda, deputy spokesman of Secretary Roy A. Cimatu debunked Pamalakaya’s allegations.

He said based on his understanding, SMC or Ramon Ang bought the land from individual private landowners.

“Its private land as far as I know.

Let us not put political color on this,” Antiporda told the BusinessMirror. He said the DENR Central Luzon Regional Office also assured him that no fishers will be affected because the area to be developed under the project involves private fishponds.

“It is not a reclamation project, but land development. The airport project will prioritize qualified local labor for job requirements. It’s a government project. It should be a priority like all other vital infrastructure projects. There is no Protected Area as the project area involves titled properties,” he said via text message.

Other projects that have already acquired an ECC include the 419-hectare Horizon Manila Project, the 148-hectare Manila Solar City,

and the 318-hectare Manila Waterfront Project.

“How ironic that the agency that leads the task force to rehabilitate Manila Bay is the one giving a gosignal to reclamation projects that will effectively destroy the environment,” Pamalakaya said in a statement.

More than 600 mangrove trees were already cleared in Barangay Taliptip where the airport will be built. Based on the Coastal Resources Management Project conducted by the scientist group Agham, at least 670 kilos of fish will be lost for every hectare of mangrove that will be destroyed. Pamalakaya also cited the existing 25-hectare fishing reservation areas established by the DENR itself across Taliptip’s coastal waters.

“Twenty-five hectares of fishing reservation areas are at stake courtesy of the land reclamation of SMC; this also means loss of traditional fish species and depletion of fish caught by small fishers in the entire province of Bulacan. On top of the existing fishing reservations, Manila Bay is currently undergoing a massive rehabilitation program by the government and building infrastructures through dumping landfills will defeat the purpose of restoring its pristine state,” the Pamalakaya statement added.

“We reiterate our call to revoke all the ECCs issued to reclamation projects in Manila Bay and promote a genuine rehabilitation program that will restore its traditional use as communal fishing grounds,” the statement said. Jonathan L. Mayuga and VG Cabuag

Petron shelves oil-refinery expansion due to fall in income

O

IL refiner Petron Corp. is shelving its plans to expand its oil refinery plant in the country due to the fall of its income, which it now blames on the entry of illicit products mainly sold by so-called white gasoline station operators.

“The business of Petron is becoming bad due to inventory loss and the growing presence of white stations resulting in cheaper fuel prices for no reason,” Petron President and CEO Ramon S. Ang said at the sidelines of the annual stockholders’ meeting of Top Frontier Investment Holdings Inc. He said the white stations, the owners of those smaller gasoline stations that normally paint their facilities white, now corner about 37 percent of the industry by volume.

Top Frontier is the majority owner of San Miguel Corp., which

owns Petron.

“How can they be 10 percent cheaper than us? Where are they sourcing their fuel? If they are importing, their prices should not be this low. Our prices should be relatively the same,” Ang said, adding that they cannot control the situation. He said they may let it pass as it is only cyclical.

He said the imposition of excise taxes on fuel is also becoming an incentive for the entry of smuggled fuel since fuel marking is not required for all and is mandated only for big companies.

“When the tax was just 6 percent VAT [value-added tax], they were already having a heyday. With the addition of a 6-percent excise tax, it is even more profitable for them,” Ang added.

He said the company may not bring down the prices of its product

as doing so will hurt them. As a result it will shelve expansion plans and concentrate on its other businesses such as petrochemical products.

“We are lucky if we can have an P8 billion or P9 billion income this year.

And most of that will be carried by our Malaysian operations,” he said.

Petron’s net income in the first quarter of the year plunged 77 percent to P1.3 billion, from P5.8 billion last year, mainly due to higher taxes and rising crude oil prices. Of the amount, P1.2 billion came from its Malaysian operations.

Petron earlier said it intends to further expand its Bataan refinery in 2020 by another 90,000 barrels per day, which will cost the company $3.5 billion.

From 180,000 barrels a day, its output will become 270,000 barrels a day to 300,000 barrels a day by 2022, Ang said earlier. VG Cabuag

PayMaya sees cashless transactions continuing to rise among Pinoys

F

ILIPINOS are now more keen on using financial technology (fintech) services, as demand for convenience in transacting cashless continues to increase, a study conducted by PayMaya Philippines Inc. revealed.

Kenneth Palacios, director and head of Consumer Business at PayMaya, said his group’s 2019 Consumer Brand study showed that the top 3 reasons why respondents turn to e-wallets is because of the convenience to open an account (60 percent), no fees (54 percent) and easy top-up features (36 percent).

“Digital-payments adoption is

fast-growing and PayMaya can attest to the Filipino consumers’ shift to e-wallet as their top payment method,” he said.

Based on the financial inclusion dashboard of the Bangko Sentral ng Pilipinas (BSP), e-wallet penetration in the Philippines sur passed that of credit-card penetration in 2018, when digital wallet accounts rose by 22 percent to 33 million account holders.

The three features cited in the PayMaya study were “answers to the top barriers” to opening a formal account, such as not having enough funds to start an account

(60 percent), and lack of documentary requirements (18 percent).

PayMaya allows users to open and maintain an account digitally, which gives them access to a swathe of digital finance services, such as bills payment, in-store and online payments, load top-up and sending money.

“With majority of Filipinos still without bank accounts, PayMaya is the most viable option to allow them to have access to financial products to do financial transactions whether offline or online. It is providing consumers with a better way to pay other than cash and cards,” Palacios said. Lorenz S. Marasigan

ERC clarifies allowed modes of public offering

By Lenie Lectura

T

@llectura

HE Energy Regulatory Commission (ERC) has moved to address concerns raised by a group of power generation companies (gencos) on the allowed modes of public offering.

Under the Electric Power Industry Reform Act (Epira) of 2001, all private gencos and distribution utilities (DUs) not publicly listed shall offer and sell to the public a portion of not less than 15 percent of their common shares of stocks.

However, the ERC suspended the directive in 2016 following the petitions made by the Private Electric Power Operators Association (Pepoa). One of the clarifications it raised included “whether registration of common shares at the Securities and Exchange Commission [SEC] was inadvertently omitted as a mode of public offering.”

The SEC, when asked for its opinion, told ERC that public offering under the Securities Regulation Code (SRC) does not necessarily require listing and selling in the Philippine Stock Exchange (PSE) or any stock exchange for that matter, since listing is just one form of public offering.

Further, the SEC reiterated that in case a special law such as Epira requires a corporation to offer and sell to the public a particular portion of its common shareholdings, compliance with its requirements will primarily depend on what particular law or its implementing rules will prescribe.

“The general definition of public offering under the 2015 IRR of the SRC will only apply suppletorily, if such special law does not provide for its own definition or modes of public offering,” it said. Thereafter, the ERC conducted another round of public consultation in December last year.

The result of the consultation led the ERC to adopt a resolution amend-

ing Resolution 9 which requires gencos and DUs which are not publicly listed to offer and sell to the public a portion of not less than 15 percent of their common shares of stock.

Resolution 4, which amended Resolution 9, cites the following modes for public offering: n Listing of the generation companies and distribution utilities in the PSE. n Listing of the shares of stock in any accredited stock exchange, or direct offer of a portion of registered enterprises’ capital stock to the public and/or their employees, when deemed feasible and desirable by the Board of Investments. n Public offering under the Securities Regulation Code and its implementing rules and regulations.

However, gencos and DUs whose respective holding companies are already listed in the PSE are already complaint. Also, the offer of the common share of stock through a employee stock option plan (Esop) or any other similar plan shall not be deemed as public offering since the offer is limited only to the employees of the gencos and DUs, as against the general public to whom the offer is to be made.

“Said offer and sale of shares of stock, through Esop, is considered as public offering only when the genco or DU is a registered enterprise under the Omnibus Investment Code,” the ERC said. The ERC added gencos under the build-operate-transfer scheme shall not be deemed in compliance with the public-offering requirement given that the privatization provisions of the Epira has the effect of transferring the ownership of the privatized BOT projects to the new owners.

“Thus, the new owners shall comply with the public offering requirement,” the ERC said.

Resolution 4 was signed by the ERC commissioners last June 4 but was approved for posting last July 4.

B2

Companies BusinessMirror

Wednesday, July 10, 2019

PSE STOCK QUOTATIONS

July 9, 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 RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

58 141.9 78.25 26.8 12.16 71.4 13.2 20.5 52.65 26.6 172.5 60.9 1.22 2.37 18.7 4.77 1.3 0.47 0.96 188.7 1.13

58.5 142.5 78.3 26.9 12.18 71.7 13.24 21.35 53 26.7 173 61.8 1.24 2.44 18.76 4.84 1.37 0.485 0.97 189.1 1.21

58 141.1 78.05 27 12.16 71.6 13.2 20.55 54.4 26.5 172 61.1 1.22 2.43 18.72 4.79 1.3 0.485 0.98 190 1.12

58.5 143 78.4 27.15 12.26 71.9 13.24 20.55 54.4 26.7 173 62 1.28 2.44 18.76 4.84 1.37 0.485 0.98 192 1.12

58 141.1 77.85 26.75 12.1 71.4 13.2 20.5 52.65 26.5 171.8 60.5 1.22 2.43 18.72 4.72 1.3 0.48 0.96 189 1.12

58.5 142.5 78.3 26.9 12.18 71.4 13.2 20.5 52.65 26.6 173 60.9 1.22 2.44 18.76 4.84 1.37 0.48 0.97 189.1 1.12

2610 806800 4724740 139800 673600 2231630 201400 2000 148800 16500 406440 4960 31000 216000 400 73000 3000 50000 190000 630 10000

151880 114665175 369279630 3767105 8192416 159706007 2658520 41020 7898752 438960 70059117 302576 37880 526030 7500 348190 4040 24100 184230 119961 11200

INDUSTRIAL

87500 45218781 9246487.5 -1784660 -2438202 5483890.5 -122760 3078480.5 -18620 8498430 -256236 11350 -

ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT 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 EUROMED PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.34 36.8 0.26 27 91.45 385 25 5.9 4.61 2.36 12.02 38.8 6.54 16.02 14.16 90.05 17 14.32 6.1 10.28 7.59 104.5 0.78 54.75 282.6 9.06 13.8 0.188 1.79 14 1.35 4.9 1.96 174.8 1.2 2.49 98.9 110.2 3.01 5 15.52 10.74 13.6 18.64 8.56 1.19 1.33 2.05 1.7 4.81 40.6 2.51 10.1 1.68 5.55 1.09 17.28

1.36 36.9 0.265 27.25 91.5 387 25.4 5.91 4.72 2.37 12.18 38.95 6.56 16.96 14.28 100 17.44 14.48 6.2 10.3 7.6 104.8 0.79 54.8 284 9.42 13.82 0.194 1.8 14.02 1.36 4.92 2.09 176 1.21 2.59 99 119 3.02 5.01 15.58 10.78 13.86 18.68 9.3 1.21 1.34 2.08 1.73 4.95 40.95 2.52 10.22 1.7 5.86 1.11 17.3

1.35 37.1 0.265 27.45 91.7 384 24.7 5.9 4.63 2.3 12.02 39.05 6.56 16.02 14.48 89.25 17.38 14.4 6.49 10.24 7.57 103 0.82 57.4 282 9.05 14.2 0.187 1.85 14 1.36 4.86 2.1 179.8 1.26 2.59 94.5 108.2 3.01 5.01 15.46 11 13.58 18.68 9.06 1.2 1.35 2.06 1.6 4.92 40.95 2.51 10.12 1.72 5.87 1.12 16.04

1.36 37.1 0.27 27.45 93 387 25.4 5.95 4.72 2.41 12.2 39.1 6.56 16.02 14.48 109 17.42 14.4 6.49 10.32 7.6 104.5 0.82 57.4 284 9.45 14.2 0.194 1.85 14.04 1.36 4.9 2.1 179.8 1.26 2.59 109 134.8 3.04 5.01 15.82 11 13.88 18.7 9.06 1.24 1.37 2.06 1.73 4.92 40.95 2.56 10.3 1.72 5.87 1.12 17.36

1.34 36.7 0.26 27 88.8 384 24.5 5.87 4.61 2.3 12 38.65 6.54 16.02 14.16 89.25 17.38 14.32 6.1 10.24 7.55 102.2 0.77 53.05 281.2 9.05 13.78 0.187 1.78 13.94 1.35 4.86 1.91 173.8 1.18 2.48 88.2 100 2.99 5.01 15.44 10.66 13.5 18.6 8.23 1.19 1.32 2.06 1.6 4.89 40.95 2.47 10.1 1.66 5.86 1.07 15.72

1.36 36.8 0.27 27.25 91.5 387 25.4 5.9 4.72 2.36 12.2 38.95 6.56 16.02 14.28 100 17.42 14.32 6.1 10.28 7.6 104.5 0.79 54.75 284 9.42 13.82 0.194 1.79 14 1.36 4.9 1.96 176 1.21 2.48 98.9 120 3.02 5.01 15.54 10.78 13.86 18.64 8.23 1.19 1.34 2.06 1.7 4.9 40.95 2.52 10.1 1.7 5.86 1.11 17.3

1020000 764600 2620000 2150200 386130 85820 4831900 1821800 28000 17836000 111900 272600 33900 2400 1222900 380 3000 481200 65800 2132200 35400 1082160 5851000 709190 244110 4000 884400 270000 14782000 765300 193000 12000 109000 981550 8012000 5000 99410 19730 6878000 74600 28000 553700 358800 1734000 59000 469000 6788000 50000 23000 137000 100 6214000 167500 2074000 2000 1117000 975300

1375160 28143685 687400 58646165 35255886 33129890 122268895 10755263 130220 42228620 1356068 10586710 222028 38448 17553248 37282 52188 6905520 409603 21919988 267657 111421730 4607410 39047821 69013334 37171 12264056 50780 26676850 10714004 261410 58760 227400 172360970 9745430 12620 9803226 2277481 20700820 373746 434404 5959892 4887392 32320726 525340 563340 9076140 103000 39540 671170 4095 15632300 1709976 3517090 11730 1213940 16365682

-680125 28469020 -8881406 19662186 1727555 -2061765 -1200090 -299459.9996 3650956 -460022 -29560 -5825172 103282716 40500 10536726 791876 109284 -1460150 4553976 58760 32143898 -386530 -141058 -3655120 -64122 2659760 838702 24991350 82300 -663990 29410 459999.9999 377926 -21800 -3748820

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 GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.93 12.58 917 54.7 15.18 3.78 6.82 0.73 1.28 1.29 7 10.12 13.72 846 6.4 68.5 0.475 4.4 15.7 0.61 4.77 0.039 1.61 1.36 950 174.6 0.81 260.2 0.232 0.29

0.94 12.7 918 55.05 15.2 3.8 6.88 0.74 1.3 1.3 7.05 10.16 14 858 6.41 68.95 0.495 4.41 15.76 0.62 4.78 0.04 1.62 1.39 956 174.9 0.83 261 0.236 0.295

0.99 12.98 915 55 15.22 3.8 7 0.74 1.3 1.38 6.88 10.24 13.86 840 6.41 68 0.495 4.38 15.78 0.61 4.78 0.04 1.57 1.4 959.5 175 0.81 265 0.234 0.325

0.99 13 919.5 55.45 15.32 3.8 7 0.77 1.31 1.38 7.09 10.24 14 858 6.44 68.95 0.495 4.41 15.78 0.62 4.78 0.04 1.62 1.4 960 175.5 0.83 265 0.234 0.325

0.91 12.5 915 54.65 15.14 3.62 6.88 0.73 1.28 1.3 6.87 10.1 13.62 840 6.4 67.9 0.48 4.32 15.3 0.6 4.72 0.039 1.54 1.35 945 174.6 0.81 260.2 0.23 0.295

0.93 12.7 917 55.05 15.2 3.78 6.88 0.74 1.3 1.3 7 10.12 14 846 6.4 68.95 0.48 4.4 15.76 0.62 4.78 0.039 1.62 1.38 950 174.6 0.81 261 0.232 0.295

80858000 51300 246460 626770 3753700 11546000 200600 698000 2391000 189000 4771200 3101000 74100 112940 212200 835990 190000 1283000 2787200 1682000 24348000 20800000 5565000 649000 763110 146990 509000 2840 3720000 28980000

76843600 647132 225991200 34499278.5 57137452 42751890 1393800 527930 3087900 246550 33134862 31432390 1027142 95796880 1358580 57432211 91400 5602960 43046738 1032610 115818550 812700 8797040 890970 725004665 25698896 412680 741588 859450 8766950

1936540 36167260 -8264715.5 -26917698 1050420 986400 -1380 -493635 -8557378 -334114 -14642350 -589280 24913118.5 -337690 -12615108 122000 31958030 125270 451108480 -5768782 -73126 -58900

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 1.11 1.12 0.96 1.11 0.95 1.11 36851000 38520390 -552550 AYALA LAND 51.45 51.5 52.05 52.4 51.25 51.45 8054490 415138326.5 81328502.5 BELLE CORP 2.3 2.32 2.35 2.35 2.31 2.31 676000 1573260 -469510 A BROWN 0.82 0.84 0.88 0.88 0.82 0.83 5797000 4865300 -42000 CITYLAND DEVT 0.9 0.92 0.89 0.93 0.89 0.93 39000 34900 12600 CROWN EQUITIES 0.238 0.243 0.238 0.238 0.238 0.238 150000 35700 CEBU HLDG 6.08 6.34 6.1 6.34 6.07 6.34 190800 1161919 -424013 CEB LANDMASTERS 5.12 5.14 5.17 5.18 5.05 5.12 1178900 6025230 163880 CENTURY PROP 0.59 0.6 0.6 0.61 0.59 0.6 31475000 18858530 375080 CYBER BAY 0.46 0.465 0.46 0.485 0.46 0.46 2200000 1036000 -18400 DOUBLEDRAGON 24.4 24.45 24.9 24.9 24.2 24.45 294600 7194505 2756790 DM WENCESLAO 10.02 10.08 10.32 10.32 10.02 10.02 262800 2663736 -954632 EMPIRE EAST 0.465 0.475 0.47 0.48 0.465 0.475 2170000 1025250 -24500 FILINVEST LAND 1.82 1.83 1.86 1.86 1.81 1.83 32502000 59461140 -4364380 GLOBAL ESTATE 1.36 1.37 1.38 1.38 1.36 1.36 1931000 2652900 8990 HLDG 15.3 15.32 15.3 15.46 14.96 15.3 885300 13533342 -812224 PHIL INFRADEV 1.7 1.71 1.75 1.75 1.68 1.7 5757000 9831340 -370550 CITY AND LAND 0.78 0.8 0.81 0.81 0.78 0.8 91000 72480 MEGAWORLD 5.99 6 6.09 6.09 5.9 6 23530000 140771152 -55196354 MRC ALLIED 0.33 0.335 0.335 0.34 0.33 0.335 11200000 3750000 70350 PHIL ESTATES 0.48 0.5 0.485 0.51 0.47 0.5 10490000 5230450 -205100 PRIMEX CORP 2.14 2.15 2.12 2.17 2.11 2.14 1664000 3581100 -42800 ROBINSONS LAND 26.5 26.65 26.5 26.8 26.4 26.5 1872500 49618175 17186810 PHIL REALTY 0.4 0.415 0.405 0.41 0.4 0.4 1180000 472650 ROCKWELL 2.23 2.24 2.23 2.27 2.22 2.24 418000 936040 22200 SHANG PROP 3.05 3.14 3.1 3.15 3.1 3.14 1033000 3244880 STA LUCIA LAND 1.93 1.96 1.92 1.97 1.89 1.97 820000 1603590 49660 SM PRIME HLDG 38.05 38.45 37.85 38.45 37.85 38.45 2923400 111671015 52268550 STARMALLS 6.22 6.27 6.21 6.28 6.2 6.21 127800 794534 SUNTRUST HOME 0.74 0.78 0.78 0.78 0.77 0.78 215000 167600 89600 VISTA LAND 7.18 7.19 7.23 7.23 7.17 7.19 4534700 32597615 -7645465

SERVICES ABS CBN 17.5 17.54 17.96 17.96 17.5 17.54 167800 2947962 GMA NETWORK 5.38 5.39 5.42 5.42 5.35 5.39 49100 263838 MANILA BULLETIN 0.52 0.53 0.52 0.52 0.5 0.52 590000 303710 MLA BRDCASTING 14.4 15.5 14.4 15.5 14.4 15.5 300 4430 GLOBE TELECOM 2130 2132 2164 2164 2112 2132 62390 132860700 -51291790 PLDT 1190 1193 1205 1225 1179 1193 149155 177772495 -47146510 APOLLO GLOBAL 0.044 0.045 0.044 0.045 0.044 0.044 7000000 310700 IMPERIAL 1.9 1.95 1.91 1.95 1.87 1.95 262000 499830 ISLAND INFO 0.116 0.117 0.116 0.117 0.116 0.116 1170000 135870 ISM COMM 6.06 6.07 6.9 6.95 5.98 6.07 50648900 318404996 -11207770 JACKSTONES 2.95 3.09 2.99 2.99 2.97 2.97 60000 178810 NOW CORP 2.36 2.37 2.5 2.52 2.35 2.37 4202000 10086760 214280 TRANSPACIFIC BR 0.355 0.36 0.36 0.36 0.35 0.355 8720000 3098700 PHILWEB 4.14 4.15 4.15 4.27 4.02 4.15 5929000 24496630 -3336480 2GO GROUP 10.94 10.98 10.92 10.94 10.92 10.94 9100 99482 1094 ASIAN TERMINALS 21.3 21.5 21.5 21.5 21.3 21.3 600 12820 CHELSEA 8.15 8.16 9.1 9.36 8.1 8.15 29825800 255587702 2685522.9999 CEBU AIR 58 90 93.4 93.7 58 58 204970 15694839 5968564.5 INTL CONTAINER 141.7 142 141.5 143.5 141.5 142 1141540 162619218 21041436 LORENZO SHIPPNG 0.83 0.85 0.85 0.85 0.83 0.85 207000 172510 MACROASIA 19.44 19.48 19.28 19.5 19.28 19.48 391200 7604272 4519154 METROALLIANCE A 1.53 1.64 1.55 1.55 1.54 1.54 45000 69590 METROALLIANCE B 1.57 1.64 1.57 1.57 1.57 1.57 5000 7850 PAL HLDG 9.05 9.4 9.46 9.46 9.01 9.01 8600 80434 HARBOR STAR 2.18 2.2 2.21 2.23 2.18 2.2 1524000 3350290 2220 ACESITE HOTEL 1.34 1.36 1.36 1.36 1.36 1.36 3000 4080 BOULEVARD HLDG 0.055 0.056 0.055 0.056 0.055 0.055 42520000 2356060 DISCOVERY WORLD 2.06 2.32 2.32 2.32 2.32 2.32 2000 4640 WATERFRONT 0.76 0.77 0.77 0.77 0.74 0.76 3769000 2829130 CENTRO ESCOLAR 7 7.18 7.18 7.18 7.18 7.18 1500 10770 STI HLDG 0.79 0.8 0.79 0.8 0.78 0.8 10488000 8351140 2788030 BERJAYA 2.46 2.49 2.69 2.72 2.46 2.49 2356000 6081750 261710 BLOOMBERRY 11.44 11.5 11.44 11.52 11.42 11.44 4114000 47132566 -28802446 PACIFIC ONLINE 3.01 3.02 3.09 3.12 3.01 3.02 72000 220090 -91700 LEISURE AND RES 3.67 3.69 3.72 3.72 3.64 3.69 443000 1628980 22200 MANILA JOCKEY 3.18 3.19 3.09 3.21 3.05 3.19 285000 906300 PH RESORTS GRP 5.3 5.45 5.32 5.49 5.25 5.49 58600 310941 31920 PREMIUM LEISURE 0.75 0.76 0.73 0.75 0.73 0.75 4704000 3472160 -1269570 TRAVELLERS 5.5 5.52 5.46 5.52 5.45 5.51 1142700 6288443 METRO RETAIL 2.6 2.61 2.62 2.64 2.6 2.61 2540000 6636620 -2507890 PUREGOLD 44.55 44.8 44 44.8 43.85 44.8 88000 3901295 812205 ROBINSONS RTL 77.15 77.3 77 77.3 76.5 77.3 65280 5038542 4250219 PHIL SEVEN CORP 135.4 136 136 136 136 136 10 1360 1360 SSI GROUP 3.45 3.46 3.47 3.52 3.4 3.46 5478000 19026570 7017470 WILCON DEPOT 16.92 16.94 16.9 17 16.9 16.94 894400 15149186 -3621386 APC GROUP 0.52 0.53 0.54 0.54 0.52 0.52 3745000 1968060 EASYCALL 9.98 10.02 10.08 10.08 9.98 9.98 91600 916492 GOLDEN BRIA 420 426.8 420 420 412 420 1450 606100 IPM HLDG 5.65 5.7 5.7 5.7 5.7 5.7 3900 22230 PAXYS 2.91 3.04 3.06 3.06 2.92 3.06 6000 17940 420 PRMIERE HORIZON 0.84 0.85 0.85 0.86 0.82 0.84 37025000 31108350 2377770 SBS PHIL CORP 9.34 9.39 9.2 9.4 9.2 9.39 27400 256739

MINING & OIL ATOK 12 12.14 12.5 12.5 11.06 12.14 11800 137838 APEX MINING 1.13 1.15 1.16 1.18 1.13 1.15 2754000 3158130 153100 ABRA MINING 0.0017 0.0018 0.0018 0.0018 0.0017 0.0017 752000000 1283600 ATLAS MINING 2.69 2.82 2.82 2.82 2.82 2.82 1000 2820 BENGUET B 1.15 1.18 1.19 1.19 1.18 1.18 29000 34260 COAL ASIA HLDG 0.28 0.29 0.28 0.28 0.28 0.28 510000 142800 CENTURY PEAK 2.81 2.82 2.83 2.83 2.8 2.81 1058000 2979420 DIZON MINES 7.81 7.86 7.82 7.86 7.82 7.86 300 2350 FERRONICKEL 1.44 1.46 1.48 1.48 1.42 1.46 1975000 2859440 145960 GEOGRACE 0.218 0.219 0.225 0.225 0.218 0.218 120000 26260 LEPANTO A 0.105 0.109 0.106 0.106 0.102 0.105 6600000 684610 MANILA MINING A 0.0075 0.0077 0.0075 0.0075 0.0075 0.0075 1000000 7500 MARCVENTURES 1.16 1.19 1.16 1.22 1.13 1.17 948000 1106170 NIHAO 0.98 1.04 1.05 1.05 0.98 1.04 62000 61500 15000 NICKEL ASIA 2.16 2.17 2.2 2.2 2.17 2.17 2026000 4416610 -2071480 ORNTL PENINSULA 0.86 0.87 0.86 0.87 0.84 0.86 457000 387130 PX MINING 3.47 3.48 3.5 3.52 3.47 3.47 141000 491920 SEMIRARA MINING 23.15 23.25 23.15 23.25 22.7 23.25 942600 21824480 -1232605 UNITED PARAGON 0.0064 0.0066 0.0064 0.0064 0.0064 0.0064 1000000 6400 ORNTL PETROL A 0.011 0.013 0.012 0.012 0.012 0.012 1300000 15600 ORNTL PETROL B 0.011 0.013 0.012 0.012 0.012 0.012 500000 6000 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.01 49400000 494100 4000 PHINMA PETRO 4.75 4.8 4.68 4.8 4.67 4.8 45000 213760 PXP ENERGY 7.88 7.9 7.98 8.15 7.84 7.88 1844400 14705634 361902.9997

PREFFERED

HOUSE PREF A 94.35 96.9 96.9 96.9 96.9 96.9 90 8721 AC PREF B2 483 497 490 497 485 497 4060 1977470 DD PREF 99 99.5 99 99 99 99 8960 887040 SMC FB PREF 2 970 980 965 970 965 970 12370 11937800 145500 GLO PREF P 480.2 499 480 480 480 480 30 14400 GTCAP PREF A 870 945 918 943 918 943 2000 1883350 LR PREF 0.99 1 1 1 0.99 0.99 6000 5980 MWIDE PREF 99.8 102.4 99.7 99.7 99.7 99.7 10 997 PCOR PREF 2A 990 1005 1000 1000 1000 1000 120 120000 PCOR PREF 3A 1010 1011 1011 1012 1010 1010 145 146595 45495 PCOR PREF 3B 1010 1012 1014 1014 1011 1012 3650 3693960 2489470 SMC PREF 2B 74.55 75.2 75 75.5 74.5 74.5 40330 3018430.5 SMC PREF 2C 76.1 76.8 76.8 76.8 76.1 76.1 16340 1245410 251129.9999 SMC PREF 2D 73 73.55 73.55 73.55 73 73 1010 73735.5 SMC PREF 2E 73 73.9 73 73 73 73 20970 1530810 SMC PREF 2F 74 74.85 74 74.95 74 74.95 4640 345901 SMC PREF 2H 73.8 73.85 73.8 73.8 73.8 73.8 510 37638 SMC PREF 2I 72.05 73.7 73.7 73.7 73.7 73.7 340 25058 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.84 5.21

17.2 5.48

17 5.49

17 5.49

16.84 5.21

16.84 5.21

95400 5100

1621564 26614

WARRANTS LR WARRANT

1.82

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.97 XURPAS 1.14

1.83

1.86

1.86

1.82

1.83

297000

545280

-

4.98 1.15

5.02 1.19

5.05 1.19

4.97 1.13

4.98 1.15

324400 8831000

1618402 10188330

-4491 -289110

EXHANGE TRADE FUNDS FIRST METRO ETF

119.9

-1621564 -

120.6

120.5

120.6

119.5

120.6

3710

445464

-

www.businessmirror.com.ph

RTC rules MORE takeover of Peco’s operations ‘illegal’

P

By Lenie Lectura

@llectura

ANAY Electric Co. (Peco) said Tuesday Branch 209 of the Mandaluyong City Regional Trial Court made permanent a temporary restraining order (TRO) issued last March in connection with MORE Power and Electric Co.’s (MORE Power) takeover of the utility firm’s assets.

“In the end, our company and shareholders are thankful that the rule of law and the supremacy of the Constitution prevailed. The RTC confirms that one cannot legislate the illegal takeover of a private company lock stock and barrel in the guise of expropriation,” Peco officials said in a statement. “We know that this decision will not stop our adversary, but we are committed to keep the fight up and defend our rights under the constitution.”

In her nine-page order dated July 1, Judge Monique Quisumbing-

Ignacio said “the TRO dated March 14, 2019, insofar as it enjoins respondent MORE from enforcing, implementing and exercising any of its rights and obligations set forth under RA 11212, including but not limited to commencing or pursuing the expropriation proceedings against petitioner Peco under the assailed provisions; and takeover by MORE of Peco’s distribution assets in the franchise area is hereby made permanent.”

The court also declared “Sections 10 and 17 of RA 11212 void

2 key PAL executives named

By Recto Mercene @rectomercene

P

HILIPPINE Airlines (PAL) Officer in Charge Vivienne K. Tan on Tuesday announced the appointment of two key executives following the resignation of President and COO Jaime Bautista last week.

The new officers reportedly will lead the airline’s commercial and human-resources groups, “signaling the start of the flag carrier’s transition to a new leadership.”

Ms. Tan introduced Rosemarie S. Katalbas as senior vice president of Human Capital Department and Eugene Go as chief commercial and marketing officer, according to a PAL statement.

“Ms. Katalbas brings with her a vast experience in leadership roles in human resource management across multiple industries both in the region and globally,” PAL said in a statement. “These industries include electronics manufacturing, solar energy, pharmaceutical, audit and management firm, and financial services.”

Katalbas was awarded the People Manager of the year by the People Management Association of the Philippines and was recently the recipient of the Philippines’s Most Talented Leaders (2018) World HRD Congress.

Go is a product of De La Salle University w ith postgraduate

studies in Singapore Institute of Technology where he finished with academic distinction. He has over 27 years of Marketing and Commercial experience in companies like Unilever and Johnson & Johnson, to name a few, and was instrumental in the rise to market leadership of household brand names. He is an Agora awardee for Marketing Excellence.

“We’re working to make PAL more efficient and productive by improving business procedures—how we do things. Most important, I call on all of you to stand united as you carry out your duties and responsibilities in PAL,” Tan said.

She rallied PAL executives and staff to value the wisdom of unity, stressing that “with unity, there is strength and with strength in numbers, we will make PAL succeed together.”

In the same message, Tan shared an earlier conversation she had with her father, taipan Lucio Tan, where she asked him about the secret of his passion and dedication to make PAL succeed. “My father said: PAL is more than just an airline; it represents the country, the Philippines. So I wish to remind all of you: As you carry out your work, your duties, you’re not merely representing the company, but also the country because the Philippines is PAL and PAL is the Philippines.”

Tandem of restaurateurs open bistro in QC

U

PBEAT on the local restaurant scene, a tandem of young entrepreneurs opened a Japanese-Korean bistro they named Wrong Yakiniku in Quezon.

Ron Melvin P. Ramirez, co-owner of Wrong Yakiniku, said Korean restaurants have been dotting some areas in Fairview, particularly those near the SM Mall.

Seeing the opportunity to satisfy not only their personal cravings but also the potential market hooked by the grilled dish from neighboring Central Asia countries, he and his co-owner Kurt Glenn R. Corrina decided to try their luck again in the restaurant business with an investment of P6 million.It was in 2016 when they started their partnership with the opening of their joint venture Japanese-inspired eatery in open food-court establishments also located in Quezon City.

After their successful short stint in this din-

ing format, they thought it’s now also timely to renew their foray given the ongoing construction of the MRT 7 that eventually, will increase the foot of traffic in West Fairview once parts of it will be completed by end-2021.

“That is why we establish this so there will be a Japanese-Korean restaurant in this area,” Ramirez told reporters in a sideline interview during the restaurant’s grand opening on Monday.

Wrong Yakiniku is seated on a 117-squaremeter unit in a commercial building along #2 Pontiac corner Camaro Street, with a seating capacity of 95 persons. The menu offers 70 percent Japanese dishes and 30 percent Korean cuisines, either buffet or grilled. What makes it different from competitors, Ramirez noted, is their use of only salt and pepper sans the usual marination in their unlimited barbecue grill dishes. He added that the meats are skewered. Roderick L. Abad

and unconstitutional for infringing on Peco’s rights to due process and equal protection of the law.

Consequently, Peco has no obligation to sell and MORE has no right to expropriate Peco’s assets under Sections 10 and 17 of RA 11212; and, Peco’s rights to its properties are protected against arbitrary and confiscatory taking under the relevant portions of Sections 10 and 17 of RA 11212.”

Republic Act 11212 granted MORE the franchise to distribute power in Iloilo City. Under Sections 10 and 17 of RA 11212, MORE is authorized to exercise the power of eminent domain over all the distribution assets and properties of Peco in the franchise area.

Peco had applied for the issuance of a TRO because its existing assets are in danger of being expropriated

by MORE. The court noted that Peco’s distribution assets are already being utilized. Hence, the only tangible effect of the exercise of eminent domain by virtue of the assailed provisions would be to replace Peco with MORE are the owner of the existing electric power distribu-

MUTUAL FUNDS

tion system in Iloilo City. “In other words, a corporate takeover. To achieve this, the state should not intervene. This should be a private matter between Peco and MORE.” However, the court clarified that what it declared as unconstitutional is the transfer of all Peco’s distribution assets existing at the franchise area. “The grant of the franchise is another matter which is not the issue in the present petition,” it said.

Peco reaffirmed the commitment never to abandon Iloilo City— “even as we keep up the fight. We will continue our modernization efforts using the latest technology and industry best practices and will continue to work with and for the sustained progress of the Iloilo City.”

It vowed to reduce the rates further while providing stable power supply. “We have also begun talks with battery storage companies to help us fully maximize our current contracts to further reduce the rates.”

Peco’s smart metering program, it said, “will continue to ensure we give our consumers the most accurate billings possible.”

July 9, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 268.3 8.79% -0.07% 1% 6.38% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6696 16.83% 8.16% 3.14% 15.88% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.175 7.16% 0% 0.23% 6.97% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9615 11.25% N.A. N.A. 6.71% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.887 9.38% N.A. N.A. 8.08% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5444 9.12% 0.77% 0.91% 5.14% MBG EQUITY INVESTMENT FUND, INC. -A 123.39 15.96% N.A. N.A. 6.22% ONE WEALTHY NATION FUND, INC. -A 0.8912 7.28% -3.72% N.A. 6.51% PAMI EQUITY INDEX FUND, INC. -A 53.0985 11.64% 0.69% N.A. 7.87% PHILAM STRATEGIC GROWTH FUND, INC. -A 551.65 9.98% -0.32% 0.79% 7.17% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3459 11.77% 1.75% 3.16% 7.33% PHILEQUITY FUND, INC. -A 39.4787 12.33% 2.41% 2.65% 7.77% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0658 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3869 12.62% 1.69% 3.01% 8.63% PHILIPPINE STOCK INDEX FUND CORP. -A 899.67 12.68% 1.4% 2.96% 8.6% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9453 13.92% 0.88% N.A. 9.92% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3951 12.41% 1.59% 2.4% 8.28% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0335 12.07% 1.35% N.A. 8.3% UNITED FUND, INC. -A 3.7831 10.58% 3.24% 3.17% 8.06% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 120.4603 13.09% 2.31% 4.02% 8.77% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$0.9992 -1.22% 6.12% -0.37% 7.54% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3191 3.9% 10.23% N.A. 19.35% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7557 7.86% -1.36% -1.18% 6.33% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3469 5.97% 0.12% 0.94% 6.23% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6861 6.91% 0.24% -1.23% 5.62% GREPALIFE BALANCED FUND CORPORATION -A 1.3645 4.67% N.A. N.A. 4.62% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9549 7.73% 0.61% 1.39% 6.07% PAMI HORIZON FUND, INC. -A 3.7778 8.08% -0.64% 0.63% 7.04% PHILAM FUND, INC. -A 17.0118 8.95% -0.43% 0.65% 6.94% SOLIDARITAS FUND, INC. -A 2.1655 6.8% 0.76% 1.83% 4.65% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9206 10.08% 0.56% 1.59% 7.38% 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 1.0244 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0048 11.04% 0.83% 1.29% 9.02% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03753 7.84% 1.48% 2.07% 6.32% PAMI ASIA BALANCED FUND, INC. -A $1.0023 0.35% 3.9% -0.7% 9.7% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7907 4.68% 6.88% 2.85% 14.57% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1158 4.94% 4.33% N.A. 10.48% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 350.49 3.44% 1.98% 2.2% 2.04% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9003 2.14% -0.16% -0.12% 2.21% COCOLIFE FIXED INCOME FUND, INC. -A 3.0516 5.53% 5.26% 5.27% 2.54% EKKLESIA MUTUAL FUND INC. -A 2.1902 3.4% 0.94% 1.88% 2.86% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3167 4.54% 1.02% 1.37% 5.06% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6051 2.27% -1.83% -0.03% 2.6% PHILAM BOND FUND, INC. -A 4.1924 6.41% -0.28% 1.34% 6.95% PHILEQUITY PESO BOND FUND, INC. -A 3.6854 5.56% 0.74% 1.39% 4.79% SOLDIVO BOND FUND, INC. -A 0.9383 4.02% -0.73% N.A. 5.29% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9666 8.37% 1% 2.1% 7.26% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6467 8.26% 0.52% 1.65% 6.94% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $459.22 3.75% 1.63% 2.75% 2.41% ALFM EURO BOND FUND, INC. -A Є218.13 2.44% 1.39% 1.53% 2.57% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1858 6.72% 1.79% 2.52% 5.34% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0257 4.05% 0.92% N.A. 3.63% GREPALIFE DOLLAR BOND FUND CORP. -A $1.715 1.4% -2.16% 0.6% 1.47% PAMI GLOBAL BOND FUND, INC -A $1.0876 5.21% -0.56% -1.93% 4.95% PHILAM DOLLAR BOND FUND, INC. -A $2.3536 9.79% 0.84% 3.29% 8.42% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.059359 4.65% 1.62% 1.84% 4.14% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.091 7.37% 0.08% 2.76% 7.62% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.64 3.76% 2.43% 1.95% 2.28% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0156 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2164 4.02% 1.78% 1.09% 2.92% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2458 3.76% 2.68% 2.05% 2.18% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0286 2.18% N.A. N.A. 1.25%

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.

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Wednesday, July 10, 2019

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SEC approves rules on crowdfunding

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By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has approved its rules and regulations on crowdfunding, a move that will allow start-ups and small and medium-sized enterprises greater access to funding.

The SEC en banc on July 4 approved the rules and regulations governing crowdfunding, defined as a fund-raising activity typically conducted through an online platform, mainly used by start-ups.

“Information and communication technology has made a significant impact on our financial environment,” SEC Chairman Emilio B. Aquino said.

“With the rules and regulations governing crowdfunding in place, we hope to support recent financial

innovations on providing easier access to finance especially for smaller business start-ups or ventures while ensuring the integrity and fairness of financial systems and the protection of investors,” he added.

The fund-raising approach involves three parties—the entrepreneur or project initiator; the supporters or those willing to fund the entrepreneur’s business idea or project; and the platform or moderating organization that brings

the entrepreneur and supporters together to realize the business idea or project.

Supporters make their contributions or donations through online platforms. The platforms coordinate and administer the fund-raising activities.

Reward-based and donationbased crowdfunding are two famous forms of community crowdfunding, which are not subject to securities regulation as they do not involve

offers of securities or the prospect of financial return, the agency said.

On the other hand, the financial return model includes lending-based and equity-based crowdfunding.

“Securities-based crowdfunding can offer an alternative source of private financing for start-ups and SMEs,” Aquino said.

“Further, market validation through successful crowdfunding campaigns may create more funding opportunities for businesses,” he said.

E. Visayas bank deposits up 9.27%; Yvonne Yuchengco named new Malayan board vice chairman accounts breach 1-million mark T T ACLOBAN CITY—Bank deposits in Eastern Visayas grew by 9.27 percent to P119.46 billion in 2018 while the number of accounts reached the 1-million mark, indicating a “robust financial system” in the region.

Deposit liabilities managed to maintain an annual growth in the past six years despite the staggering impact of 2013 Supertyphoon Yolanda, based on records of the Philippine Deposit Insurance Corporation (PDIC).

National Economic and Development Authority (Neda) Eastern Visayas Regional Director Meylene Rosales on Tuesday said the rise in bank deposits is a reflection of the 5.9-percent growth in the 2018 gross regional development product.

“The financial system in the region remained robust as evidenced by the growth in both deposit liabilities and loan portfolio,” Rosales said in a phone interview.

“In general, this can be due to increased economic activities in the region,wider reach of bank coverage, higher remittances, etc.,” she added.

Rosales said the services sector, which accounts for 44.4 percent of the regional economy, accelerated to 10.5 percent during the period. About 53 percent of the region’s labor force is employed by service providers.

The Neda official said the proliferation of hotels, restaurants and other establishments in the region’s major cities contributed to the service sector’s improvement.

Regional Development Council banking sector representative Francisco Barredo said consistent banking growth is largely driven by the government’s “Build, Build, Build” program and business expansion.

A BANK along a major street in Tacloban City. Bank deposits in Eastern Visayas grew by 9.27 percent to P119.46 billion in 2018 while the number of accounts reached the 1-million mark, indicating a “robust financial system” in the region. PNA FILE PHOTO

“In the past, most construction activities were concentrated in Tacloban and other areas badly hit by Yolanda.

Construction projects and business expansion have spread out all over the region as the government pours in more investments on improving infrastructure,” Barredo told the Philippine News Agency.

Deposit liabilities in 2018 stood at P119.46 billion, higher than the P109.33 billion a year earlier, according to PDIC. Deposit liabilities refer to money placed by an individual or corporation into a banking institution for safekeeping.

However, last year’s growth is lower than the 15.56-percent growth recorded in 2017 and 11.23-percent rise in 2016.

Data showed that of the total P119.46-billion deposit portfolio, P70.73 billion were in Leyte province, P13.40 billion in Samar, P13.11 billion in Southern Leyte, P10.54 billion in Northern Samar, P8.62 billion in Eastern Samar and P3.02 billion in Biliran.

The remarkable growth in Leyte is largely driven by the operation of 50 banks in Tacloban City. The regional capital had P43.40-billion deposits as of end-2018, higher than the P41.67 billion in 2017. The number of accounts in the city rose to 343,603 in 2018, from 310,781 the previous year.

For the first time, the number of accounts reached over 1 million in 2018 at 1,067,902, or 13.45 percent higher than the 941,338 bank accounts recorded in 2017.

The number of banks increased to 260 in 2018 from 225 in the previous year. All provinces also posted significant growth in both accounts and deposits.

“The increase in deposits and number of accounts is a result of our financial literacy campaign for people to save their money in banks. Banks have been introducing the basic deposit accounts [BDA] to encourage even the poor to open a bank account,” said Maria Jocelyn Ladero, Bangko Sentral ng Pilipinas Tacloban acting deputy director. PNA

Social media and work efficiency

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AVE you ever tested yourself— or your people in the office—to see how much time you use on social media which is not work-related, and how many notifications one gets in an hour or in a day from social media? If you sometimes wonder where your time has gone after a day has passed, whether at work or at leisure, only to realize (or some do not even realize it) that you have been spending too much time on social media, you are probably a victim of social-media addiction.

There was one smart test, which a teacher made to emphasize to her class and to make them realize that social media can sometimes prove to be such a distraction and can cause such stress.

For a certain class in one period, students are made to tally, in real time, the number of notifications that popped up on their screen whether it is text, call, Snapchat or Instagram. They were told not to reply to avoid generating replies and generating more notifications.

One girl got close to 150 notifications in just an hour! (source: www. nbcwashington.com) I think that does not apply alone to students. Those who are in the workplace may be getting more, now that we are communicating not only through e-mails but also through Vibers, WhatsApp and Messengers. It takes a lot of discipline not to respond to all of these notifications.

There are some people I know who do not answer and open their social-media applications during work hours and check it only after work hours or during breaks.

Their friends on Facebook know they are at work because they never open their social media during office hours, seeing it as such a big distraction.

Offices will be more efficient in their

FINEX FREE ENTERPRISE Wilma C. Inventor-Miranda work if they make it an official policy not to allow their employees to spend time on social media—not related to work— during office hours. The train of thought when you are focused on your work and when you suddenly turn your attention to a notification on social media can disturb your brain and hinder the capacity to generate creative ideas. It makes us numb and like zombies we can be passively using the brain instead of actively using it for a more valuable use of time.

You should also check if you yourself are addicted to social media. Example: you are about to make an important call and you suddenly see those notifications popping up on your screen when you open your phone—and you open these notifications and start responding. You realize later on that you were about to make an important call to a client, only to discover you already spent several minutes on social media. You should check yourself and avoid this habit.

Have you ever experienced being so focused in responding to notifications in your social media that before you know it an hour has already passed? Those are precious times which can otherwise be spent in a more productive way. And it is not only inefficient. Smartphone-driven social media and even social media on our desktops and laptops is reported as one of the biggest drivers of stress. A

stress in America report shows that 86 percent of US adults suffer from socialmedia stress. According to the report, the average “constant checker” reports an average stress level of 5.3 out of 10.

But take note of this, the highest stress levels which are also reported in the survey findings are actually also from people who check work e-mail constantly even on days off—the stress level is even higher—at a level of 6.0 out of 10!

On the other hand, when used properly, social media such as the Facebook page of the company and LinkedIn can help promote the company. However, careful thoughts and monitoring should be in place on what to post and share in these applications. If you are a blogger or have many followers you can be an influencer and you can make use of this to promote your company or your products or work. However, you should still be careful that you are able to make a balance between work and personal life and that you are not increasing your stress level because of this.

Social media can either be a “downer” which can make you depressed or an “upper” which can stimulate you and inspire you and help you improve not only your work but also your personal life. Maintain a balance in the use of it and you will have a friendly tool at your fingertips. Be a slave to it, and it can lead to disastrous consequences.

Wilma Miranda is a managing partner of Inventor, Miranda and Associates, CPAs, chairman of the Media Affairs Committee of Finex, member of the board of directors of KPS Outsourcing Inc. The views expressed herein do not necessarily reflect the opinion of these institutions.

HE Malayan Insurance Co. Inc. (Malayan Insurance) board of directors has announced the appointment of its new vice chairman, as well as the company’s new president and CEO effective this month.

In a statement issued on Tuesday, Malayan Insurance said Yvonne S. Yuchengco, who was the company’s president and CEO, has been appointed as the new vice chairman of the company’s board of directors effective July 1, 2019, with Paolo Y. Abaya being appointed as Malayan Insurance’s new president and CEO, also effective on the same day.

Abaya was previously the chief operating officer of the company, and before that, the former vice president and general manager of Isuzu Manila Inc. “The transition to a younger leadership for Malayan Insurance

marks a step toward the future as it approaches its 90th year as an industry leader. The move consolidates the company’s strategic efforts to serve the millennial and Gen Z markets, an emerging segment which thrives with a digital, always-connected lifestyle driving their consumer decisions,” the company’s statement said.

Malayan Insurance is the leading nonlife insurance company in the Philippines, rated by AM Best, a global rating authority for the insurance industry.

AM Best has affirmed the company’s Rating with Financial Strength Rating: “B++” (Good), and Insurer Credit Rating “BBB+,” providing the Philippine insuring public with world-class insurance protection and good customer service.

The Insurance Commission (IC) announced in May that the top

nonlife insurer for 2018 in terms of gross premiums written is Malayan Insurance with P10.16 billion.

The IC listed the top 5 nonlife insurance companies in terms of gross premiums written for the year: Malayan Insurance, Prudential Guarantee and Assurance Inc., Pioneer Insurance and Surety Corp., BPI/MS Insurance Corp., as well as Charter Ping An Insurance Corp.

Insurance Commissioner Dennis B. Funa clarified that these rankings were based on the submitted unaudited quarterly statistics as of the quarter ending December 31, 2018, by the nonlife insurance companies.

Malayan Insurance, a member of the Yuchengco Group of Companies, retained its market leadership with a reported P10.16-billion gross premiums written for the year 2018, from P9.598 billion in 2017. Rea Cu

B4 Wednesday, July 10, 2019

SUN LIFE CHAIRMAN RIZA MANTARING IS PAX AWARDEE FOR 2019 S.S.S. TO COVER MORE THAN 3,000 PARAÑAQUE CITY L.G.U. PERSONNEL

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HE state-run Social Security System (SSS) will cover more than 3,000 contractual and job-order personnel from Parañaque City’s local government unit (LGU), on the back of a memorandum of agreement (MOA) signed on June 3 at the Parañaque City Hall.

The pension fund and the LGU of Parañaque City signed an agreement to formalize the SSS membership of its contractual and job-order personnel through the KaltaSSS-Collect program.

Under the MOA, social-security coverage will be provided to these personnel who are not covered by the mandatory membership of the Government Service Insurance System (GSIS) or any social-security scheme due to their employment status.

“The SSS is pleased to have entered an agreement with the local government of Parañaque [City] to ensure that their contractual and job-order personnel will be entitled to social-security benefits provided by [the] SSS. We know how important they are in government as they also work equally as hard as the regular employees.

The KaltaSSS-Collect agreement will be a mutually rewarding partnership if both organizations meet our goals, for SSS to reach out and cover more workers and for the Parañaque LGU to help improve the lives of their contractual workers,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

The agreement ensures that the job-order workers will be registered to

SSS as self-employed members, while the Parañaque LGU will be responsible for the remittance of their monthly SSS contributions through the KaltaSSSCollect’s salary-deduction scheme.

As actively paying self-employed members, the job-order and contractual employees of the Parañaque City LGU will enjoy SSS benefits, such as sickness, maternity, disability, retirement, funeral and death or survivor pension.

As of April there are 37 organizations covered by KaltaSSS-Collect, under SSS NCR South. Aside from KaltaSSSCollect partnership with Parañaque City, Olivarez noted that there are 25 tricycle organizations from the city listed under SSS’s AlkanSSSya microsavings program.

Photo shows (front row from left to right) Paranaque City Vice Mayor Rico T. Golez, Paranaque City Mayor Edwin L. Olivarez, SSS PCEO Aurora C. Ignacio, and City Councilor Vandolph L. Quizon; (back from left to right) SSS Vice President for NCR South Division Maria Rita S. Aguja, SSS Paranaque Branch Head Hoechst R. Potato, SSS Vice President for Large Accounts Division Atty. Tony Argabioso, Paranaque City Human Resources Head Reynaldo C. Loon, and Special Assistant to SSS PCEO Atty. Paul Erik D. Manalo during the ceremonial signing on 3 June, Parañaque City Hall, Parañaque City.

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UN Life Financial Philippine Holding Co. Inc. chairman Rizalina Mantaring was honored as this year’s PAX awardee at Saint Scholastica’s 87th college commencement exercises held at the Philippine International Convention Center. The PAX Award is the highest award conferred annually on an outstanding alumna who has exemplified in her life and work the true spirit and character of a Scholastican education. “It symbolizes the dedication and commitment of the awardee to the improvement of the quality of life of our people and our country.”

In her speech before the graduates, Mantaring expressed her gratitude to her alma mater for teaching her the values that guided her and helped shape her life and career, and emphasized the need to continue Saint Scholastica’s legacy of working hard, giving back and making a difference in peoples’ lives.

“Being a graduate of Saint Scholastica’s is a privilege given to few. It carries with it the responsibility to uphold the legacy that generations of Scholasticans have created. Work hard, do the right thing, act with courage, give back and pray. Ora et Labora,” she said.

“Not everyone may become a CEO but, as the parable says, if you are given ten talents, give ten back. If you are given only one, give one back. Everyone has the chance to make a difference to someone’s life. Weave yourself into the fabric of our nation and help build its future. Make sure you count,” Mantaring concluded.

POST OF APPRECIATION National Home Mortgage Finance Corp. (NHMFC) President Dr. Felixberto U. Bustos Jr. (fifth from left) led the NHMFC officers in honoring on stage the guest speakers from the country’s housing industry, for their insightful talks on the second leg of the regional stakeholders’ forum held at Waterfront Hotel, Cebu City. In photo are (from left) Luisa Favila, Jores Magsombol, Palmeco Philippines Corp. President Mark Tan, Housing and Urban Development Coordinating Council director Jeanette Cruz, We Effect country director Jessica Soto, Organization of Socialized and Economic Housing Developers of the Philippines Inc. general counsel and CHAIRS President lawyer Christopher Ryan Tan, Green Eco Toilet System local inventor Daniel Camacho, Vice Presidents Rosabella Jose and Ma. Victoria Alpajaro, and Romeo Roldan. Also present at the event as one of the guest speakers was Housing and Land Use Regulatory Board regional officer lawyer Dunstan San Vicente.

TAX ISSUES DISCUSSED AT C.R.E.B.A. MEETING

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UREAU of Internal Revenue (BIR) head revenue executive assistant lawyer Beverly S. Milo (right) provided updates on taxation for various realestate and housing-related transactions at the fifth monthly business meeting of the Chamber of Real Estate and Builders’ Associations Inc. (Creba) held on May 30 in Makati City.

In her speech Milo acknowledged the vital and invaluable role of Creba in ensuring the retention of VAT-exempt thresholds for housing purchases under Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN Law), through close representations with the framers of the law, as well as commissioner Caesar Dulay, at the formulation of the implementing rules and regulations by the bureau.

In pursuit of its 5-Point housing agenda, Creba bats for “A Home for

Every Filipino” by setting a framework for joint publicprivate efforts in intensifying housing production to as much as 500,000 units per year, address the country’s homelessness malaise in a span of 20 years. In photo are (from left) Creba National President Noel Toti M. Cariño, Creba national chairman Charlie AV Gorayeb and Milo.

THE ‘WHOLE CHILD APPROACH’ AND THE NEW GENERAL EDUCATION CURRICULUM

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LOT of concerns arise whenever something new and radically transformative is introduced, especially in the field of education. With the introduction of the new general education curriculum (GEC), the Commission on Higher Education sought to boost holistic understanding, as well as intellectual and civic competencies.

Since its implementation last year, the new GEC has helped to smoothly transition K-12 education to the tertiary level, integrating advanced subjects from the senior high school and accommodating 36 of the original 63 units. The pertinent question, however, is whether after a year of implementation, the original spirit of the GEC was followed. That is to say, its aims of boosting holistic understanding, as well as intellectual and civic competencies among learners were met or, at the very least, retained some significance. If not, this would mean that it may require some changes to how it is implemented and where it is going to grow forward to face the demands of the future.

The “Whole Child Approach” (WCA) is integrated with the implementation of the K-12 system in the Philippines. The Department of Education’s K-12 program was created in line with the Philippine and the Asean qualifications frameworks. As such, they are built with an outcomes-based approach, one that prepares students for

their future as job-ready and qualified graduates.

While private colleges and universities do retain a certain degree of autonomy to decide whether they will add more subjects to their curriculum, relative to what their programs require or aim to pursue in terms of focus and pace, this is not the case for all. Given this difference, perspectives on holistic education are largely ignored or dismissed as unnecessary.

The WCA may help bridge the gap between this current shift in educational practice as its implementation is underway, toward fuller integration and maturity. Right now, educational institutions in the Philippines are adjusting and shifting both administrative policies and teaching practices in light of the changes brought about by the new GEC. This means that our schools, as learning environments for young Filipino learners, must strive to sustain education through a holistic approach that incorporates inquiry-based, reflective, collaborative and integrative practices and perspectives which, when applied properly, would drive innovation and help the Philippine economy form a sustainable backbone for growth, development and resilience for the future.

Visit https://www.rexpublishing.com.ph/whole-childinitiative/ to learn more about the WCA and how holistic learning could sync in with new policies in Philippine education.

Sports

CINDERELLA RUN ENDS

BusinessMirror

Coco Gauff’s captivating Wimbledon run ends after the 15-year-old rising star loses to 2018 French Open champion Simona Halep on Monday. Gauff could not come through, beaten by her older, more experienced Halep 6-3, 6-3. AP »C4

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| Wednesday, July 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

US women’s team boldly embraces off-field activist role

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RAPINOE, ET AL: READ OUR LIPS

By Anne M. Peterson

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The Associated Press

YON, France—As the US players celebrated their Women’s World Cup title by dancing on the field, a chant rose from the crowd in Lyon: “Equal pay!

Equal pay!”

It was a fitting tribute after the team’s monthlong march to a fourth overall title in the sport’s premier tournament, where equity emerged as a main theme.

The Americans were out front because of their lawsuit back home seeking to be paid as much as their counterparts on the men’s national team.

But it wasn’t just about pay equity at this World Cup. Players hope the attention they’ve received in France translates to greater support for the women’s game—and women in general.

“We, as all players, every player at the World Cup, put on the most incredible show that you could ever ask for. We can’t do anything more to impress more, to be better ambassadors, to take on more, to play better,” US star Megan Rapinoe said.

“It’s time to move that conversation to the next step.”

Even the hosts, eliminated by the United States in the quarterfinals, believed the focus on the tournament— with its record-breaking television ratings—could lead to a greater victory in terms of player development and resources.

“I think we achieved something and I’m proud to have shown France that football can also be played by women, and that’s a first victory. I think it will help for the future, but I can’t guarantee it,” French forward Eugenie Le Sommer said. “To have won over the public is a good thing, but we shouldn’t just be satisfied with that.”

For others, it’s just getting what they’ve been promised.

The Nigerian team staged a brief sit-in at its hotel after it was eliminated from the tournament because players had not been paid their bonuses and allowances. Some were owed money from as far back as 2016.

In soccer-crazy Argentina, the women’s team barely registers in the shadow of the men’s team. But the Argentinian women earned their first-ever World Cup point at the tournament with a scoreless draw with Japan in the group stage. Argentina had been outscored 33-2 in six previous games.

“For women’s football in Argentina it is great that we are starting to flourish,” Argentina Coach Carlos Borrello said. “We are starting on our way and just starting to face up to these powerful forces in football.”

A movement for equality pushed Argentina’s soccer association into giving professional status to the national women’s league earlier this year. The fight for recognition has coincided with the country’s feminist movement taking to the streets with marches against violence and inequality.

Jamaica Coach Hue Menzies was blunt about the influence he hoped the Reggae Girlz would have back home: “We want to make an impact socially.”

Like many teams in the region, Jamaica’s women have struggled for basic support, even equipment. There’s been little or no compensation for players. The Reggae Girlz even disbanded in 2008 but were revived five years ago with the help of Bob Marley’s daughter, Cedella, who became an ambassador for the team, tirelessly seeking sponsors and funding.

“We took this project not because of football but to change the mindset of how we perceive women,” Menzies said. “The thing is we leave this program in a better situation. We will need to discuss with the federation about better preparations before a World Cup.” Fifa itself came under fire during the tournament for the imbalance of prize money between the men’s and women’s World Cups.

The Americans earned $4 million for winning the World Cup—double the amount earned four years ago—as part of a $30-million prize pool. But that’s far less than the $38 million earned by France for lifting the men’s trophy last July in Moscow.

Fifa President Gianni Infantino promised to double the prize money to $60 million for the next Women’s World Cup in 2023, but it will still lag far behind the $440 million that will be paid out

at the men’s 2022 tournament in Qatar.

Fifa’s cash reserves at the end of 2018 stood at $2.74 billion.

Soccer’s governing body also was criticized for scheduling the Women’s World Cup final on the same day as the Gold Cup final in the United States and the Copa America final in Brazil.

A day before the final, Rapinoe suggested Fifa doesn’t truly care about the women’s game.

“If you really care are you letting the gap grow? Are you scheduling three finals on the same day? No, you’re not. Are you letting federations have their teams play two games in the four years between each tournament? No, you’re not,” Rapinoe said. “That’s what I mean about the level of care, you need attention and detail and the best minds that we have in the women’s game, helping it grow every single day.”

Rapinoe was awed by the chants after the US women won the championship match 2-0 over the Netherlands on Sunday.

“To have something like that, you know, obviously in the biggest match, that went so far beyond anything in sport, it was pretty incredible,” she said.

She is among the 28 members of the current player pool who filed a lawsuit in US District Court in Los Angeles in March.

The lawsuit alleges “institutionalized gender discrimination” that includes inequitable compensation when compared with their counterparts on the men’s national team.

The two sides have agreed to mediate the lawsuit now that the World Cup is over.

“I think everybody’s ready for it,” Rapinoe said after the team arrived back in New York on Monday. “It’s time. I think that we’ve put this whole movement on our back and done so, so beautifully, the entire team. I think the conversation deserves to be moved to the next step, and I think everybody’s ready for it and excited for it.”

EW YORK—Setting itself apart from other great American sports teams, the US women’s soccer team is embracing a frontline role in social justice causes even as it savors a fourth world championship.

The players are now world leaders in the push for gender equity in the workplace, having sued the US Soccer Federation for equal pay and treatment vis-à-vis the men’s national team. With a lesbian coach and several lesbian players, including World Cup MVP Megan Rapinoe, they’re a proud symbol of LGBTQ inclusion. And they have stood firmly behind Rapinoe after she said she’d refuse to visit the White House if invited by President Donald Trump.

Far from being daunted by these off-the-field roles, the players seem to relish them.

“I feel like this team is in the midst of changing the world around us as we live, and it’s just an incredible feeling,” Rapinoe said after the team’s 2-0 victory over the Netherlands in Sunday’s title match in Lyon, France. The team won all seven of its matches, scoring 26 goals, allowing just three.

Individual athletes—notably Muhammad Ali, more recently Colin Kaepernick—have risked their careers in the past by taking political stances. Some teams in the National Basketball Association (NBA) and WNBA wore warm-up outfits a few years ago protesting police brutality and supporting the Black Lives Matter movement.

But it’s difficult to think of another high-profile US team sticking its neck out, in the run-up to its most important competition, the way the women’s soccer team did by suing the USSF in March. The two sides have agreed to mediate the lawsuit now that the World Cup is over.

“These athletes generate more revenue and garner higher TV ratings but get paid less simply because they are women,” said Molly Levinson, spokesman for the players in their lawsuit. “It is time for the federation to correct this once and for all.”

Debra Katz, a Washington attorney who specializes in sexual-harassment cases, said the US team had earned global support for the causes it is embracing.

“Their message is, ‘You’re not going to divide us. We’re united for nondiscriminatory treatment for all of us.’”

The victory in Lyon, coupled with the drive for equal pay, will further entrench the US team as a symbol for female athletes elsewhere. Indeed, Title IX, the 1972 federal legislation that required equal sporting opportunities for girls and women, has benefited not only the top US players but also many World Cup players from other countries who honed their skills on US college teams.

For LGBTQ Americans—many of them frustrated by the lack of openly gay players in major league baseball, the National Football League, NBA and National Hockey League—the women’s soccer team has been a source of pride and celebration.

Two of its players, Ashlyn Harris and Ali Krieger, are engaged to each other. On hand as a spectator in Lyon was Rapinoe’s girlfriend, WNBA star Sue Bird.

“Science is science. Gays rule,” Rapinoe tweeted on Sunday.

A spokesman for the largest US LGBTQ-rights organization, Matilda Young of the Human Rights Campaign, said the impact of the team’s inclusiveness would be profound.

“Young LGBTQ athletes, who all too frequently are made to feel unwelcome, have seen themselves reflected in these history-making champions,” Young said. “Having Americans from every corner of our country embrace these women who are unabashedly proud of their country and of who they are sends a powerful message not only to LGBTQ people, but to sports fans around the world that we are here, we are queer and we just won the World Cup—again.”

Congratulations to the team came from a wide array of celebrities and politicians, including Trump and many of the Democratic presidential candidates hoping to defeat him.

One of them, New York Mayor Bill de Blasio, swiftly arranged for the team to have a victory parade Wednesday through the Canyon of Heroes in Manhattan.

“Congrats to the record breakers on the @USWNT, an incredible team that’s always pushing themselves_and the rest of us_to be even better,” tweeted former President Barack Obama. US Rep. Alexandria Ocasio-Cortez, the New York Democrat with a huge following on social media, tweeted “At this point we shouldn’t even be asking for #EqualPay for the #USWMNT. We should demand they be paid at least twice as much.”

On Monday, the top Democrats in Congress invited the team to the Capitol “to celebrate their inspiring victory,” House Speaker Nancy Pelosi said.

At the National Women’s Law Center in Washington, the US team’s victories and outspokenness were welcomed by a staff that has campaigned vigorous for equality in the workplace and on the playing field.

“This team is so dominant because they work together—they lift each other up,” said Sabrina Stevens, the center’s senior manager of campaign and digital strategies.

“It resonates for so many of us—women especially—to work your heart out and be so good at what you do, and still not get the pay or recognition you deserve,” she said. “We’re rooting for them because we’re rooting for ourselves.” AP

THE Women’s World Cup success is a fitting tribute after the US team’s monthlong march to a fourth overall title in the sport’s premier tournament, where equity emerges as a main theme. AP

Spo

Business

C2 Wednesday, July 10, 2019

LOOKING TO LEARN L

AS VEGAS—China’s national team came to the National Basketball Association (NBA) Summer League looking for education.

They’re learning plenty—and got a win, as well.

Summer League is essentially several preseason games for the Chinese. They’re in Las Vegas to get ready for the Fiba World Cup, which will take place in China from August 31 through September 15—with USA Basketball entering as the top-ranked team in the world and the presumed favorites to win the tournament for the third straight time.

Fans in basketball-mad China are already eager for the World Cup. The national team is getting there, and an 84-80 win over the Charlotte Hornets on Monday was a sure sign of progress.

“There’s high expectation so we’ve got to be ready and we’ve got to raise the pressure,” China coach Li Nan said earlier Monday.

“Not just the players, also the coaching staff.

We need to concentrate on our details, do preparations now, concentrate on our stuff.”

Among the challenges for the Chinese so far in Las Vegas: Getting used to the speed and strength of the teams in Summer League, and Li said he’s urged his players to start becoming tougher mentally.

“It’s so fast. It’s a different level,” Li said.

“The contact, we’ve never seen this before.

The rules are different. It’s hard to play this tournament.”

The Chinese (1-2) lost their first two games in Las Vegas—they fell by 41 points to Miami on Friday, and looked much better in a 17-point loss to Sacramento on Saturday.

They trailed by six in the opening minutes against Charlotte on Monday, then took the lead late in the first quarter and held it the rest of the way.

“We’re still improving a lot,” Li said. “We improved a lot when we came here. The first game we weren’t ready for the physical game, the fast game. The second game, on a back to back, we started realizing some things.”

The players China brought to Las Vegas represent the bulk of what will be the nation’s World Cup roster. Longtime NBA player Yi Jianlian is expected to play in the World Cup, and he’s not playing in Las Vegas because of an injury. Guo Ailun, one of the more talented Chinese players, didn’t play against Miami, scored 20 points against Sacramento and had 12 more in the win over the Hornets.

“The intensity of the game is really high in the Summer League,” Guo said through a translator before Monday’s game. “It’s much stronger than what is in China.... The intensity, the pace, it’s really a challenge.”

Timberwolves acquire 6 players

M

INNEAPOLIS—The Minnesota Timberwolves have finalized the acquisition of six players for roster depth and reserve roles, including a sign-and-trade deal with Portland for forward Jake Layman.

The Timberwolves then completed a trade with Golden State as part of the deal that sent D’Angelo Russell from Brooklyn to the Warriors, bringing guard Shabazz Napier and forward Treveon Graham to Minnesota for the rights to Israeli forward Lior Eliyahu. The Wolves also announced Monday the signing of free agent forward Noah Vonleh and rookie guard Jarrett Culver, and the claiming of guard Tyrone Wallace off waivers from the Los Angeles Clippers.

Most of the deals were agreed to last week before the NBA’s free agency moratorium was lifted. Culver, the No. 6 overall pick from Texas Tech, was acquired from Phoenix in the draft-day deal that sent No. 11 pick Cameron Johnson and forward Dario Saric to the Suns.

Vonleh signed a one-year, $2-million

contract. Layman, who was acquired for the rights to Montenegrin forward Bojan Dubljevic, received a three-year, $11.5-million deal.

The Dallas Mavericks have also finalized a deal to acquire guard Delon Wright from Memphis in a sign-and-trade agreement for the restricted free agent.

The Grizzlies get two second-round draft picks and the rights to Satnam Singh in the deal announced Monday. Four years ago, the Mavericks made Singh the first player born in India to be drafted when they took him late in the second round.

The Mavericks and Wright have agreed on a $29-million, three-year contract as part of the trade. Dallas acquired Wright after losing out on free-agent target Danny Green, who chose the Los Angeles Lakers.

Wright could start alongside NBA Rookie of the Year Luka Doncic in the Dallas backcourt. The 27-year-old Wright averaged 12.2 points, nearly five points above his career average, in 26 games with the Grizzlies last season after joining them in a trade with Toronto. AP

New adidas-Arsenal era

A For group play in the World Cup, China will take on Poland, Venezuela and the Ivory Coast.

Based on Fiba rankings, it’s not a particularly strong group and it’s not unreasonable to think that China would make at least the tournament’s second round. AP

China’s Zhao Rui (1) drives against the Miami Heat’s Kendrick Nunn during the National Basketball Association Summer League. AP

DIDAS Football and Arsenal launched a progressive new era for the London club via a fresh new home strip design that nods to the iconic adidas shirts of the past with a distinctively modern twist—the debut collection setting the tone for an innovative new partnership.

The all-new kit design for the 2019-20 season features a classic all-over red body, complimented by popping white sleeves and contrasting collar.

The white high collar design is emblazoned

with a central red stripe and black trimming.

This design is repeated on both sleeves and the distinctive three stripes run across the shoulder in a bright white.

The 2019/20 home kit kicks off the brandnew partnership between adidas and Arsenal, which aims to push the club forward both on and off the pitch.

“Arsenal has always had a unique culture that has seen them at the forefront of innovation, redefining the game, whilst staying true to their core values,” adidas Football General Manager Nick Craggs said. “We’re excited to be a part of that and, of course, delivering iconic kits that Arsenal fans love.”

orts

sMirror

Wednesday, July 10, 2019 C3

AUSSIE IN CHARGE

AT SOUTHWOODS A

Tim Stewart lives up to his big-hitting ways.

ROY DOMINGO

USTRALIA’S Tim Stewart lived up to his big-hitting ways and fired an eight-under 63 in morning play but barely held off late charge by two local aces in their hunt for birdies that came like rain at the start of the International Container Terminal Services Inc. (ICTSI) Manila Southwoods Championship at the softened Legends course on Tuesday in Carmona, Cavite.

Charles Hong rattled off five birdies at the back where he teed off in one of the late flights, highlighted his fiery start with three straight from No. 15. He added three birdies at the front to tie Stewart at eight-under but hit the fairway bunker on his drive on the ninth, dumped his approach shot on the left greenside bunker and muffed a 9-footer for par.

He slipped to solo second at 64 while Angelo Que bucked an early bogey on the par3 third hole with six birdies and an eagle as the duo put themselves in the mix after the foreign aces dominated the leaderboard of the $100,000 event put up by ICTSI early on.

Que, coming in straight from the Japan Professional Golfers Association Tour to boost the local challenge in this third leg of the third season of the Philippine Golf Tour (PGT) Asia, dropped another stroke on No.

16, another par-3, but holed out with a birdie to force a six-way at 65 that includes American Lexus Keoninh, Thai Tawit Polthai, and Macedonia’s Peter Stojanovski, who also put in 33-32s, Justin Quiban and Chris Hichman of the US, who also charged late with three birdies in row at the front to string a 31-34 card.

Actually in pursuit of a second PGT Asia diadem after ruling final leg of the circuit’s inaugural staging at Luisita three years ago, the young Quiban hit three birdies at the front then strung up three straight from No. 13 to emerge as the best local player until Hong and Que came charging home late in the day.

True to its promise, the event organized by Pilipinas Golf Tournaments Inc. drew a run of under-par scores on the flat, rain-softened par-71 layout which yielded 47 under-par cards under preferred lies rules.

Rufino Bayron, Michael Bibat, Clyde Mondilla and Dutch Guido van der Valk all carded 66s, Keita Sudo of Japan and Thai Thammasack Bouahom fired identical 67s, and Miguel Tabuena came through with a birdie-eagle feat from No. 13 to save a 68 for joint 16th with Joenard Rates, Zanieboy Gialon, Mars Pucay, Thai Ratchapol Jantavara, Pete Vilairatana of the US and KoreanAmerican Micah Shin.

Stewart, who failed to cash in on his power at the tight, short Sta. Barbara layout and ended

up joint 12th in the ICTSI Iloilo Golf Challenge of the PGT two weeks ago, kicked off his bid at the back with three straight birdies and closed it out in the same fashion—birdying the last three for a 33-30 card that also included a three-birdie effort in a four-hole stretch from No. 14.

He did fumble with a bogey on the slightly dog-leg right par-4 No. 4 but more than made up for the slip with those birdies in the last three from short range spiked by powerful drives and superb approach shots, taking command by two over the strongest cast ever assembled thus far in the three-year-old circuit backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

“I was on target most of the time. It was an incredible feeling. Overall my driving and irons were near perfect and my putting was impressive.

I just need to sustain this kind of game in the next three days,” said Stewart.

Still, a good number of pretournament favorites groped for form despite the absence of the wind and in danger of missing the 50-plus ties cut today (Wednesday), including Juvic Pagunsan, who swept three titles in Visayas in the PGT last month, four-time PGT Asia leg winner Jhonnel Ababa, PGT Asia Luisita champion David Gleeson of Australia, Elmer Salvador and multititled three-time PGT Order of Merit winner Tony Lascuña, whose one-under 70s were good for joint 34th to 49th.

KNEE INJURY SIDELINES BOWLES

PVL Reinforced Conference Finals unfurl in San Juan

P

etro Gazz has the edge in imports but Creamline boasts of a slew of locals ready to step up and provide their equally talented reinforcements the push they need in pursuit of a third straight championship in the Premier Volleyball League.

It’s Game One of the Reinforced Conference Finals, a stage that in hindsight many had believed these two teams would end up following their imposing runs in the double round elims and their equally lopsided romps in the Final Four.

“We have reached our target [to get into the finals]. And since we’re here, it’s a different thing. We’ll give it all, everything, to get the championship,” Petro Gazz Coach Arnold Laniog said.

Expect fireworks right on the first serve in the opener of the best-of-three series starting at 5 p.m. at the Filoil Flying V Centre in San Juan with Petro Gazz prized imports Wilma Salas of Cuba and American Janisa Johnson raring to go and flaunt the awesome form they have dished out in bringing the Angels within two victories to a dream finish.

“It’s a great feeling. It’s the Finals of course,” said Johnson, who with Salas ended up in the top 4 in scoring in the elims and normed 18 points in the semis.

But the power-hitting Salas, who fell short by just two points to elims scoring topnotcher Channon Thompson of Motolite, proved mightier in the Final Four, firing 25 and 23 points in their sweep of the BanKo-Perlas Spikers.

“I’m so excited because it’s my first time here and I feel happy for this,” said Salas, who has also been drawing tremendous support from locals Cherry Nuñag, Jeanette Panaga, Steph Mercado, Cai Baloaloa, Jonah Sabete, Jovelyn Prado, Alyssa Layug, setters Djanel Cheng and Relea Saet, and liberos Rica Enclona and Cienne Cruz.

But the Angels must dish out their A-game to stop the Cool Smashers, who are expected to bank on their experience and class—not to mention the crowd in their chase for a three-peat after ruling this tournament and dominating the Open conference of the country’s premier league organized by Sports Vision.

“Almost all of us have played in the finals, for the championship, so that’s experience,” said Creamline opposite spiker Michele Gumabao, referring to Thai import Kuttika Kaewpin, Alyssa Valdez, middle blocker Risa Sato and playmaker Jia Morado with Melissa Gohing and Kyla Atienza anchoring the team’s floor defense. “I’m just happy that our imports, especially Ale [Blanco], is a veteran and very composed. So that really contributes to our campaign. We’re not easily rattled by the challenges and pressure.”

That should guarantee a thriller of a title-series opener—a duel of power, blocking and floor defense, and coverage among the best and the brightest.

R

ain or Shine parades a new import against Magnolia on Wednesday to replace injured big man Denzel Bowles as the team fights for survival in the closing stretch of the Philippine Basketball Association Commissioner’s Cup elimination round. Bowles hurt his knee last Saturday against the Alaska Aces. The Elasto Painters won, 86-84, that game.

Finding a replacement at this point in time was no easy task as Rain or Shine scrambles to secure a playoff berth with a 4-5 win-loss record.

Enter Carl Montgomery, a 6-foot-8 player from Chicago who recently played for a Singaporean team. The Elasto Painters hope he could immediately deliver when they meet the Hotshots (5-4) at 4:30 p.m. at the Mall of Asia

Arena in Pasay City.

In the main game, quarterfinal hopefuls San Miguel Beer (3-5) and Phoenix (4-5) clash at 7 p.m. as the two squads try to catch the leaders in the tight playoff race.

Bowles collided with Alaska’s Jeron Teng in the second quarter. Doctors at the Cardinal Santos Medical Center said that the many-time import in the league suffered a medial meniscus tear and a medial collateral ligament tear in his right knee.

In nine games, Bowles averaged 28.9 points, 11.8 rebounds and 4.3 assists—numbers that helped his team stay in contention in the midseason tournament.

The match against Magnolia is an important for the wards of Caloy Garcia, who need to win

C

RAMIREZ CONVENES SEAG DEPUTIES

HEF de Mission William Ramirez convened his deputies the other day to signal his intention to secure for Team Philippines the 30th Southeast Asian Games overall championship.

Ramirez, chairman of the Philippine Sports Commission, officially appointed former taekwondo champion Stephen Fernandez as his first assistant deputy during the meeting at the Rizal Memorial Sports Complex.

“He [Fernandez] will be my first alternate when I am unable to attend to an official function,” Ramirez said.

Fernandez is one of six deputy chefs de mission. The others are PSC Commissioners Celia Kiram, Arnold Agustin, Charles Maxey and Ramon Fernandez, and Philippine Rugby Football Union Secretary-General Ada Milby.

“I am banking on the experience of the deputies to contribute positively on the

their last two matches—including a huge battle against the Beermen—this weekend.

The Hotshots, meanwhile, are in a twogame slide following an 81-102 setback to the Barangay Ginebra Gin Kings last Sunday.

Magnolia was in control in the opening minutes, but Barangay Ginebra took the driver’ seat in the third quarter.

James Farr led the Hotshots with 34 points and 21 rebounds. Locals Mark Barroca and Ian Sangalang had 16 and 14 points, respectively.

Ramon Rafael Bonilla

RAIN OR SHINE gets a replacement for the injured Denzel Bowles.

delegation’s preparations,” Ramirez added.

Ramirez reminded the deputies of President Duterte’s instruction to ensure that the athletes are given the support they need and are shielded from issues hounding the sports community.

The deputies will handle specific clusters during the November 30 to December 1 Games. Milby and Agustin split the 19 sports in the Clark hub plus surfing in La Union, while Kiram will oversee the Subic Cluster which has 16 sports.

Maxey and Ramon Fernandez will cover Metro Manila and South Luzon sports.

They will attend the Second Chefs de Mission meeting with Ramirez on Thursday.

CHEF de Mission William Ramirez briefs his deputies led by his primary assistant, Stephen Fernandez.

By Ramon Rafael Bonilla

ALTAS EDGE E CARDINALS

COLLEGE of Saint Benilde’s Justine Gutang (18) and Kendrix Belgica (17), and Emilio Aguinaldo College’s JC Luciano (8) and Dom Dayrit (2) scramble for the ball. NONOY LACZA

dgar Charcos weaved magic in the fourth quarter to bail University of Perpetual Help from a young but hard-fighting Mapua side, 80-78, in the National Collegiate Athletic Association Season 95 on Tuesday at the Filoil Flying V Centre in San Juan City.

Sensing the resurgence of the Cardinals who unloaded a 9-2 rally that erased a 69-77 deficit with four minutes left, Charcos took matters into his own hands by firing 11 of his 16 points in the final period.

His lay-up stopped the fiery Mapua comeback and sealed the win with a free throw with 3.3 seconds remaining.

Charcos added eight rebounds and five assists to his scoring output to compliment Rey Peralta’s 20 points for the Altas.

“It’s a show of character for my team. Mapua is really stronger than us,” Altas Head Coach Frankie Lim said. “It’s guts. At halftime we were down but the big turnaround was in the third quarter.”

Perpetual Help was caught flat-footed in the first 20 minutes as Warren Bonifacio and Cyril Gonzales scored the bulk of Mapua’s uprising that pegged the count at 45-39 before the break.

Thanks to Peralta and Kim Aurin, the Altas slowly turned the table around with a 25-18 run in the third quarter for a 64-63 Perpetual advantage.

Ahead, 77-69, with 4:10 minutes left, the Cardinals staged a fightback highlighted by a Laurenz Victoria triple that cut the lead to 78-79 with 35.3 seconds left.

Al Mendoza alsol47@yahoo.com

THAT’S ALL

San Miguel Beer fate lies on McCullough

IMPORTS make or break a team’s trophy bid in every import-flavored conference. The ongoing Philippine Basketball Association (PBA) Commissioner’s Cup is no exception.

That’s a truism as valid as a rooster crowing every break of dawn.

And so, teams changing imports is as common as having fried egg for breakfast.

Imports are like cars for sale. You buy one with the firm belief it’d be a good buy.

But then, only when you start playing your import—as when driving your newly bought auto—will you begin to know if you’ve got a good catch or not.

Sometimes, sadly, you end up acquiring a lemon: defective from the start. With a chronically deficient import, it can’t be repaired.

But since PBA rules allow for a replacement, you quickly dump the import for a new one.

That was not exactly the case for San Miguel Beer when it sent home Charles Rhodes.

Rhodes was the SMB import—and Best Import awardee—when the Beermen won the 2017 Commissioner’s Cup. He was not reactivated last year because Rhodes had family issues.

But why a big dip in his game this year— Rhodes being able only to win two games to put SMB to an ugly 2-5 card in the 12-team derby?

A shame, indeed, as that sent the Beermen on the fringes of elimination as only eight teams can advance.

Enter now Chris McCullough, who stunningly rose to the occasion as he powered SMB to a 109105 victory over NLEX in a smashing debut that saw him fire 47 points.

Although he fouled out, the 24-year-old first-round pick of the Brooklyn Nets in 2015 left the game with the Beermen already safely ahead by 29 points and merely coasting to victory.

There’s no doubt that McCullough is a great find, who made a National Basketball Association (NBA) impact when, at age 20 only, he debuted for the Nets. It was just unfortunate that he suffered an ACL injury in the 2014-2015 NBA season after playing 16 games.

When he recovered, McCullough vowed to return to the NBA, where his last stint was with the Washington Wizards.

Before SMB nailed him, the 6-foot-8 McCullough played in China and Puerto Rico.

McCullough, whose wingspan is an incredible 7-3, showed versatility in banging home those 47 points against NLEX, hitting 17-of-30 shots that included 6-of-12 triples.

His great form will be tested again today when SMB battles tough Phoenix at Smart Araneta Coliseum—the Beermen needing a second straight win to continue injecting life to their flickering hopes of making the next round.

At 3-5, SMB needs to win at least two of its last three games to mathematically have a chance to advance.

After Phoenix, San Miguel’s last two qualifying games are against Rain or Shine in Cagayan de Oro on Saturday and Meralco at the Big Dome on July 17.

The Beermen have always been perennially installed as favorites in virtually all the conferences the last decade or so.

Their being also the unprecedented All-Filipino champions the last five seasons is something that has given them a veneer of invincibility.

Thus, their current shaky standing seems unacceptable, if not downright unbelievable.

Will McCullough continue to make the difference?

THAT’S IT Even as San Miguel Beer itself is avoiding it like the bubonic plague, the team being a candidate, again, for a Grand Slam feat will remain a hot topic especially since the Beermen won the Philippine Cup for a record fifth straight this current season. It’s still a long way to go for SMB but can the fans help it? In this basketball-crazed nation, anything about hoops is grist for clubhouse talk.

Mapua, however, failed to make stops and gifted Charcos a trip to the line where he split his charities. Victoria tried to heave a half-court desperation shot but was unsuccessful.

Bonifacio had 15 points and nine rebounds for the Cardinals, while Gonzales added 14 points, five boards, three assists and five steals.

College of Saint Benilde, meanwhile, survived a nip-and-tuck battle against Emilio Aguinaldo College for a 69-66 win.

The Generals unleashed a 17-2 run in the fourth quarter to make the game more interesting.

Unfortunately, the Blazers were poised to end the game on a sweet note to take the victory.

COOL AS CHILLED CHAMPAGNE E

PERNAY, France—He was sweating, baked by the sun and burning through his energy reserves. But, under the intense pressure of being pursued by the chasing pack of riders at the Tour de France, Julian Alaphilippe also stayed as cool as a chilled glass of Champagne.

The French rider’s sparkling and poised Stage 3 ride on Monday into Epernay, the Champagne town that exports bubbly worldwide, delivered a first victory for France at this Tour and the country’s first yellow jersey since 2014 when Tony Gallopin held the race lead for one day.

The manner of Alaphilippe’s win— surprising other pretenders for the stage victory with a devastating burst of speed on a sharp climb and then gritting his teeth as he rode solo to the finish—oozed what the French call “panache,” or pure class.

He’d long targeted the stage, with its final section of sharp hills among the Champagne vineyards, as suiting his explosive strengths, and executed his plan to perfection.

Cheered on by thick roadside crowds, Alaphilippe delivered the decisive blow on the Cote de Mutigny, the steepest of four notable hill climbs heading toward Epernay.

“I did exactly what I’d planned to do,” he said. “When it works, you have to savor it.”

Jumping out of the saddle to hammer on his pedals up the final part of the 12 percent incline, Alaphilippe caught other riders cold.

“A very strong attack. I was surprised,” said Peter Sagan, the equally explosive Slovak who’d also been eyeing the stage to add to his collection of 11 career stage victories at the Tour.

But as the pack then reacted and laid chase, eating into his meager lead of around half a minute, victory for Alaphilippe was by no means guaranteed.

Tongue lolling in the heat, the leader of the Deceuninck-Quick Step team kept his pursuers at bay for 16 long and lonely kilometers, speeding alone up Epernay’s cobbled Champagne Avenue heaving with sun-baked fans to the lung-busting uphill finish.

By the time he sped past a statue of Dom Perignon, a monk who lent his name to James Bond’s favorite brand of Champagne, it became clear Alaphilippe wouldn’t be caught.

“Winning the stage in this manner is the most beautiful way to start this Tour,” Alaphilippe said. “This opportunity offered itself up and I had to seize it.”

He was overcome with emotion, barely able to speak through tears, at the prospect of slipping into the canary-yellow leader’s jersey for the first time in his career. He took the race

lead from Mike Teunissen, a Dutch sprinter who won it on Stage 1 and held it on Stage 2 but who wilted on Epernay’s vineyard-covered hills.

It was Alaphilippe’s first stage victory at this Tour and third in his career. He also won two stages on the Tour last year.

“I so dreamed of this scenario and I thought of my family in front of the TV,” he said. “Incredible.”

Although relatively flat for much of the way, the furious hilly finale of the 215-kilometer trek from the Belgian town of Binche offered more inklings about the fitness of main contenders for the overall victory in Paris on July 28.

Defending champion Geraint Thomas couldn’t quite stay with his Ineos teammate Egan Bernal up the final incline. Bernal pipped Thomas by five seconds, strengthening suspicions that the lithe Colombian climber could be hard to contain in the Tour’s mountains, with the first climbing stage fast approaching in Stage 6 on Thursday.

French climber Thibaut Pinot, a podium finisher in 2014, also sped in with Bernal’s small group ahead of Thomas and other title contenders.

“Short, steep climbs aren’t necessarily what I love,” Thomas’s team quoted him as saying. “I wasn’t dancing up the climbs but I felt OK. I didn’t want to do more than had to be done.” AP

The manner of Julian Alaphilippe’s win— surprising other pretenders for the stage victory with a devastating burst of speed on a sharp climb and then gritting his teeth as he rode solo to the finish—oozes what the French call “panache,” or pure class. AP

Sports BusinessMirror

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| Wednesday, July 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Riders pedal through symbol of working-class toil, pride

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PERNAY, France—In the space of 215 kilometers, the Tour de France goes from one extreme to the other. After leaving Belgium to enter France on Monday, riders pedaled through the small town of Fourmies, a symbol of working-class toil and pride.

A few hours later, they reached the glitzy Avenue de Champagne in Epernay, a Unesco World Heritage site home to the most prestigious Champagne houses.

Quite a stark contrast.

On May 1, 1891, during the first French celebration of International Worker’s Day, nine protesters were killed in Fourmies and several dozens injured when soldiers opened fire on a peaceful crowd which gathered in the industrial northern town.

Socialist leader Jean Jaures came to Fourmies soon after the killings and delivered a powerful speech which served as a trigger for the development and political coordination of the French working class. The massacre is still remembered with marches every May 1.

When winner Julian Alaphilippe approached the finish line to Stage 3, the Champagne Avenue was bathed in bright sunshine, he rode past a statue of Dom Perignon—a monk who lent his name to one of the most famous brands of Champagne—and trendy revelers were

sipping bubbly on terraces set up in front of the magnificent buildings built by Champagne houses over three centuries.

Most of the big names are there: Moët & Chandon, Perrier-Jouët, Boizel, de Venoge, Vranken, Pol Roger and Mercier.

For an unforgettable and incomparable experience, the real connoisseur should travel 10 kilometers south of Epernay and stop by the Domaine Jacques Selosse in the town of Avize. Located in the Cote de Blancs, the 8-hectare land is a family-run business producing a divine elixir in the crus of Ay, Mareuil-sur-Aÿ, Ambonnay, Avize, Cramant, Oger and Le Mesnil-sur-Oger.

After producing organic and biodynamic wines in the 1990s, the Selossses changed their focus to a more pragmatic approach with no preset doctrine that produces a sublime result. AP

COCO’S AMAZING RUN ENDS W SIMONA HALEP (left) throws a kiss into the air after her victory over Coco Gauff. AP

IMBLEDON, England—Out of escapes, out of surprises, Coco Gauff knew her captivating Wimbledon ride at age 15 was nearing its conclusion.

The thousands of spectators at Court No. 1 on Monday realized it, too, so they made sure to show their appreciation for the youngest qualifier at the All England Club in the professional era and youngest Week 2 participant since 1991.

Fans, most of whom probably hadn’t heard of Gauff until last week, rose and roared as she fended off the initial two match points she faced against 2018 French Open champion Simona Halep. It was reminiscent of the way the Gauff began a comeback victory in her previous match. This time, though, Gauff could not come through, beaten by the older, more experienced Halep, 6-3, 6-3.

“It was really surprising, because you don’t really expect this kind of support when you’re in another country, not your home country. I really did feel like I was probably playing in New York. I’m just really happy that people believe in me,” said Gauff, who beat Venus Williams in the first round for quite a Grand Slam tournament debut.

“I wasn’t feeling my best, I wasn’t playing my best,” Gauff said as she wiped away tears at her news conference, where she noted she wasn’t sure why she needed a visit from a doctor in the second set, “but they were still supporting me, no matter what.”

While Gauff couldn’t get past former No. 1 Halep, another American, 55th-ranked Alison Riske, stopped the 15-match winning streak of the current No. 1, Ash Barty, eliminating her 3-6, 6-2, 6-3.

“Right now, Ash is playing well,” Riske said. “I believe that I am, as well.”

That’s certainly true.

She improved to 14-1 on grass courts this season and reached the first major quarterfinal of her career in 30 appearances.

It’ll come against yet another player who has topped the Women’s Tennis Association rankings, Serena Williams, who will be participating in her 14th quarterfinal at Wimbledon alone.

Barty began perfectly, winning the first game of the match this way: 112 mph ace, 102 mph ace, 110 mph ace, 108 mph ace. She hit another pair of aces in her next service game and finished with 12. But Riske simply played so cleanly, delivering twice as many winners as unforced errors, 30-15, and won her fourth consecutive three-setter in the tournament.

“There aren’t many holes in her game, full-stop,” said Barty, who followed up her first Grand Slam championship at Roland Garros last month by grabbing a title at a grass-court tune-up tournament.

“Today wasn’t my day. I didn’t win a tennis match; it’s not the end of the world,” she said. “It’s disappointing right now. Give me an hour or so, we’ll be all good. The sun’s still going to come up tomorrow.”

Tuesday’s other quarterfinal on the top half of the women’s draw will be No. 19 Johanna Konta of Britain against Barbora Strycova of the Czech Republic. On the bottom half, it’ll be No. 8 Elina Svitolina of Ukraine against Karolina Muchova of the Czech Republic, and Halep against Zhang Shuai of China.

The men’s quarterfinals Wednesday are No. 1 Novak Djokovic versus No. 21 David Goffin, No. 2 Roger Federer versus No. 8 Kei Nishikori, No. 3 Rafael Nadal against 65th-ranked Sam Querrey, and No. 23 Roberto Bautista Agut against No. 26 Guido Pella.

Djokovic, Federer and Nadal all won in straight sets and are all in the quarters of a major tournament for the 24th time; one member of the Big Three won the title at 20 of those.

Querrey hit 25 aces and saved all four break points he faced to get past Tennys Sandgren 6-4, 6-7 (7), 7-6 (3), 7-6 (5) in the first all-American men’s Week 2 matchup at Wimbledon in 19 years. Pella erased a two-set deficit to edge 2016 runner-up Milos Raonic 3-6, 4-6, 6-3, 7-6 (3), 8-6.

Halep is the highest-seeded woman remaining, after Barty was joined on the way out Monday by No. 3 Karolina Pliskova, who twice served for the victory in a 4-6, 7-5, 13-11 loss to Muchova, and No. 6 Petra Kvitova, a two-time champion eliminated by Konta 4-6, 6-2, 6-4.

For Gauff, this was her seventh match in short order—three in qualifying, four in the main draw—and while she insisted she wasn’t fatigued, she looked it.

Still, with serves reaching 119 mph, a dynamic backhand that landed near lines and aggressive volleying, Gauff made an impression on anyone who watched her.

Not to mention anyone who played her.

“It’s a great performance. I think if she keeps going, she will be [in the] top 10 soon,” Halep said. “She will be a very tough opponent for everybody. If she keeps doing what she did here, she’s going to get a lot of confidence and she can win big tournaments soon.”

Now the trick will be to manage those sorts of expectations.

Gauff is, after all, too young to drive a car. She is taking highschool courses. Instead of hanging out at a mall or going to see a movie with friends or working as a camp counselor Monday, there she was at Wimbledon at 1 p.m., standing in the tunnel that leads to the court with her father, Corey.

He draped his arm around her shoulders, then parted ways by giving his daughter a peck on the cheek. AP

God our strength

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EAR God, You restore us to life in Jesus. In faith we pray: Teach us Your way of love, oh God. Lead our Church and nation to uphold just immigration laws. Inspire all people to know You more, love You most, and serve You endlessly because You are the source of life, and to respect life in every stage, from conception to natural death. Help spouses, love-partners, sweethearts or engaged couples support and encourage one another in the trials of life. May God pour the love of Jesus into our hearts and fill us with 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

SUI GENERIS: PASS IT ON D4

Wednesday, July 10, 2019

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Samsung predicts 56-percent drop in 2Q profit on weak chip market

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EOUL, South Korea— Samsung Electronics Co. said on Friday its operating profit for the last quarter likely fell more than 56 percent from a year earlier amid a weak market for memory chips.

The South Korean tech giant estimated an operating profit of 6.5 trillion won ($5.5 billion) for the AprilJune quarter, which would represent a 56.3-percent drop from the same period last year.

The company said its revenue likely fell 4 percent to 56 trillion won ($48 billion), but did not provide a detailed account of its performance by business division.

It will release a finalized earnings report later this month.

Analysts say falling prices of DRAM and NAND memory chips are eating into the earnings of the company, which saw its operating

profit during the first quarter drop more than 60 percent from last year.

US sanctions on Chinese technology giant Huawei may have also contributed to Samsung’s profit woes by reducing its chip shipments and pushing down chip prices farther.

Samsung, which is the world’s biggest maker of semiconductors and smartphones, and a major producer of display screens, is also bracing for the impact of tightened Japanese controls on exports of high-tech materials used in semiconductors and displays.

The Seoul government sees the Japanese measures, which went into effect on Thursday, as retaliation against South Korean court rulings that called for Japanese companies to compensate aging South Korean plaintiffs for forced labor during World War II. Seoul plans to file a complaint with the World Trade Organization. AP

HUAWEI WINS TOP SMARTPHONE PLUM AT EUROPEAN HARDWARE AWARDS 2019 HUAWEI’S P30 Pro flagship smartphone has been announced as the best smartphone of 2019 by the European Hardware Association.

The handset secured top spot in the Best Smartphone category at the EHA Awards 2019.

In preparation for its fifth annual awards, over 100 experienced editors from Europe’s leading technology publications examined, nominated and then voted for the best hardware available.

Last year’s award for Best Smartphone went to the Huawei P20 Pro and this year’s top award went to the P30 Pro, continuing the brand’s reputation for excellence in the communications market.

A series of innovative features helped the brand achieve recognition from so many top editors, including the SuperSpectrum Sensor,

an extreme optical SuperZoom Lens and a new Time of Flight Camera, as well as the brand’s enhanced optical and AI image stabilization technology.

Between them, the member publications of the EHA have published more than 250,000 technical articles, going back more than 10 years. It is that knowledge and experience that means the EHA is uniquely positioned to provide this kind of insight into the market.

Commenting on the win, the EHA said: “We’re thrilled that Huawei has yet again taken home the European Hardware Association’s Best Smartphone award. The P30 Pro’s well-deserved win celebrates the handset’s place as the best smartphone on the market, recognizing it as a product that is truly game changing.”

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Wednesday, July 10, 2019

Pet Corner BusinessMirror

Low awareness on responsible pet ownership in the Philippines MODELACTRESS Issa Pressman with her furry friend during a visit to the vet.

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By Rizal Raoul S. Reyes

HERE is a pressing need to bring awareness on the importance of responsible pet ownership in the country, according to a leading pet health and nutrition provider.

Based on a recent survey conducted by Royal Canin on responsible pet ownership in the Philippines, pet medicalization remains relatively low with only 20 percent of local pet owners who bring their pets to veterinarians at least once a year.

The remaining 80 percent would only bring in their pets when they are already sick and or in need of immediate care.

“We at Royal Canin recognize the need to establish and pioneer an education campaign that would mobilize the community of pet lovers to advocate for the well-being of dogs,” Royal Canin’s Ann Madelene Garcia said in a news statement.

Based on research, Garcia said Royal Canin saw an opportunity to emphasize the role of veterinarian expertise and regular preventive check-ups in ensuring pets’ general health. The company also cites the increase in pet-friendly establishments, concept stores, and events that have sprouted over the years as a positive indication that more pet owners are prioritizing the overall well-being of their pets.

With these rising trends, Royal Canin believes that it is the best time to educate dog owners about preventive healthcare as an essential part of responsible pet ownership.

Meanwhile, Royal Canin recently launched its Bring My Dog to the Vet (BMDV) campaign. The company will provide free standard check-ups with partner veterinary clinics for the first 3,000 dogs registered in the Bring My Dog to the Vet web site (www.royalcanin.ph).

Garcia said the campaign aims to emphasize to Filipino pet owners the importance of preventive healthcare for their dogs through regular veterinarian visits. To generate bigger participation, Royal Canin used the digital platform found within the company’s official web site. As a result, pet owners were able register their dogs in the system and enable them to seamlessly schedule their visits to over 100 participating vet clinics nationwide.

Moreover, the web site also provides monthly newsletters with information on pet healthcare, nutrition for dogs, the importance of vaccines, and

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jessica Simpson, 38; Adrian Grenier, 42; Sofia Vergara, 46; Arlo Guthrie, 71.

HAPPY BIRTHDAY: Try something new; implement plans you’ve been contemplating for a long time. It’s time to start doing instead of just talking. Partnerships should be assessed and restricted to suit the other person’s and your needs. Once you establish how to make things better, you can move forward knowing everyone will be better off. Personal and professional gains can be made. Your lucky numbers are 5, 9, 21, 24, 35, 39, 47.

a

ARIES (March 21-April 19): Use your emotional energy to push your way to the top. Discuss your thoughts, ideas and plans, and you will impress someone who can influence your future. Take pride in what you do, but don’t take offense if someone offers constructive criticism. HHHH

b

TAURUS (April 20-May 20): Change can be good if you take time to figure out the best way to bring it about. Taking the steps required to ensure that you abide by any rules or regulations will help you develop a solid plan. HHH

c

GEMINI (May 21-June 20): Keep your emotions in check when dealing with personal matters. Someone will get the wrong idea if you aren’t consistent or you send mixed messages. Don’t alter your looks without examining the pros and cons of what you want to do. HHH

d

CANCER (June 21-July 22): Make a statement, figure out what you want to share and don’t be afraid to do things differently.

It’s your uniqueness that will capture attention and bring others around to your way of thinking. HHH

e

LEO (July 23-Aug. 22): Give-andtake situations will turn out better than anticipated, as long as you don’t make the stakes too high or the cost beyond your means. Smart calculations coupled with sharing will result in a better standard of living. HHHH

f tips for responsible pet ownership, among others.

“Through the BMDV campaign, we aim to encourage pet owners and vet practitioners to be our partners not just in pet nutrition but most importantly in responsible pet ownership across the country,” she said.

Just like with humans, Garcia said preventive measures are also better than the cure when it comes to animals. Experts say that common dog diseases

DEPUTIES FIND SOUTHERN CALIFORNIA HOME FILLED WITH CATS MORENO VALLEY, California— Authorities making a welfare check at a Southern California home discovered it was filled with cats.

The Riverside County Sheriff’s Department says deputies arriving at the residence in Moreno Valley on Monday smelled a foul odor and thought there might be a dead person inside.

Instead, they found approximately 100 cats and two dogs, which were removed by animal control authorities.

Eighteen of the cats were either deceased or had to be euthanized. A 44-year-old woman was arrested for investigation of animal cruelty.

A Sheriff’s Department statement says the matter remains under investigation. AP

are actually preventable especially if they are easily detected through regular visits with their respective veterinarians. The BMDV campaign hopes to help dog owners promote the responsible practice of bringing their dogs to the vet even after their dog’s first year.

“Royal Canin strongly believes that pets contribute positively to a person’s well-being, which is why we strive to make it a better world for them,” Garcia added. n

Cat named ‘Freedom’ missing from Delaware veterans shelter MILFORD, Delaware—A Delaware veterans shelter is missing its feline mascot named Freedom.

The News Journal of Wilmington reports the mascot for the Home of the Brave Foundation hasn’t been seen for nearly a week. The nonprofit says Freedom roams outside at times, but usually returns home for scratches and belly rubs when called. She doesn’t have a collar and isn’t microchipped.

The shelter has had Freedom since 2016 when a passing car dumped her nearby. Executive Director Jessica Finan says Freedom acts like a therapy cat to the women, men and children who call the shelter home.

Residents have been walking the five-acre (two-hectare) property and calling for the cat, but some fear she has disappeared like the former feline mascot named Liberty.

Liberty left shortly after Freedom arrived. AP

VIRGO (Aug. 23-Sept. 22): Look for the good in everything and everyone; you’ll give a positive spin to whatever you do.

Listen, observe and make choices based on what’s acceptable. Working alongside others and keeping your opinions to yourself will pay off. HH

g

LIBRA (Sept. 23-Oct. 22): Inject a little enthusiasm into all you do. Elaborate on an idea that will assist you in helping others. Your input and insight will encourage people to participate in your plans. A passionate approach to life will command attention. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Take care of your responsibilities first. If you leave something unfinished, you will be faced with complaints that can ruin your day or your relationship with someone. First things first, and then you can move on to more enjoyable pastimes. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): If you want to change something in your life, make it count. Doing something halfway will not be satisfying and could end up costing you more in the long run. Do it right the first time. Don’t hesitate. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Your serious approach to life will win praise from those who appreciate what you’ve accomplished, but if you aren’t having fun as well, you may not get the full benefit from your achievements. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Decide what it is you want and how you are going to pay for it before you start. Having a good plan in place will ease stress and ensure success. Don’t let emotional manipulation push you in the wrong direction.

HHHHH

l

PISCES (Feb. 19-March 20): Know what you are up against before you try to take over a situation that can lead to problems at home.

Getting along with loved ones will help you escape a situation that can lead to arguments and isolation. HH BIRTHDAY BABY: You are sensitive, open and persuasive.

You are courageous and willful.

‘history lesson’ BY JOE RODINI The Universal Crossword/Edited by David Steinberg

ACROSS 1 Grand 5 Bay at the moon 9 Word on a gift tag 13 The Biggest Little City in the World 14 Relative of a Tony 15 Delete 16 Lead person in the Middle Ages?

18 “And there you have it!”

19 Start of a very literal warning 21 Suitcase-scanning grp.

22 ___ insult to injury 23 Big bag 26 Warrior actor Nick 29 Supportive garment 32 Dance design, informally 34 Japanese IT powerhouse 35 Talk drunkenly 36 Part two of the warning 39 Sound boosters 40 Lap dog 41 Luxury boats 42 “I’m unimpressed” 43 Things broken by errant baseballs 45 Impudence

6 ___ Lanka 4 47 Openly gay 49 Part three of the warning 57 TMZ interviewee 58 Physical locations?

60 In unison 61 LA’s Miracle ___ 62 Sand hill 63 With 64- and 65-Across, end of the warning 64 See 63-Across 65 See 63-Across DOWN 1 37-Down subunit 2 Hit with dodgeballs 3 Part of a yard 4 Salmon species 5 Dens and nests 6 Mentor to Luke 7 A shooting star supposedly grants one 8 Actor/musician Jared 9 Palm projection 10 It doesn’t stop a mail carrier 11 Peace Prize city

2 Venison, e.g.

1 15 Give the slip 17 High regard 20 Like good pop songs 23 Crossword’s basis, usually 24 Energy 25 This many is a crowd, to Isabel 27 How pastrami is often served 28 Rent out 29 Case of the ___ (low spirits) 30 Oxidizes 31 ___ and sciences 32 Study while under the gun 33 Score 35 Pet care org.

37 Vast time period 38 Island known for its big-headed statues 43 Government investigation 44 Ethiopian’s neighbor 46 Cologne feature 48 Yet to be realized 49 Berry that’s a superfood 50 Shut-eye 51 The Time Machine race

2 Singer Lovato 5 53 Highway turnoff 54 Fayed who dated Princess Diana 55 Hype up 56 “Present” or “potent” lead-in 59 Game-match connector

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Nicki Minaj, her provocative hits, her outrageous style in Saudi Arabia? No problem

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By Aya Batrawy The Associated Press

UBAI, United Arab Emirates—Saudi Arabia said on Wednesday that hip-hop star Nicki Minaj will perform in the ultraconservative kingdom as it sheds decades of restrictions on entertainment.

The female rapper is known for her outlandish, provocative style and hits like “Anaconda,” where she raps about her “big fat” backside. Her lyrics are often laced with profanities and her skin-bearing music videos often include twerking. Christian groups criticized her 2012 Grammy Awards performance, which included dancing priests and an exorcism.

Saudi organizers announced she would be the headline act at the Jeddah World Fest on July 18. The concert, which in line with Saudi laws is alcohol and drug-free, is open to people 16 and older, and will take place at the King Abdullah Sports Stadium in the Red Sea city.

Reactions on social media ranged from shock and joy to criticism and disappointment. In a profanitylaced video posted on Twitter and viewed more than 37,000 times, a Saudi woman wearing a loose headscarf accuses the Saudi government of hypocrisy for inviting Minaj to perform but requiring women who attend the concert to wear the modest full-length robe known as the abaya. Most Saudi women also veil their hair and faces.

“She’s going to go and shake her ass, and all her songs are indecent and about sex and shaking ass and then you tell me to wear the abaya,” the Saudi woman says. “What the hell?”

Saudi organizers said the concert will be broadcast globally and covered by MTV. Other performers include British artist Liam Payne and American DJ Steve Aoki. The kingdom is also promising quick electronic visas for international visitors who want to attend. Over the past several months, the kingdom has seen performances by Mariah Carey, Enrique Iglesias, the Black Eyed Peas, rapper Sean Paul, and DJs David Guetta and Tiesto. That’s despite the widespread

BRUCE C.

TOUGH YEAR

THE young star hasn’t had an easy 2019 so far. She got embroiled in a scandal that’s left her scarred.

Of course, a person’s refuge should be her family.

Unfortunately, a family member of the young star is making that impossible. This family member has control of the young star’s earnings and she is making it difficult for the girl to enjoy her money. The young star can’t even take a vacation because this family member won’t allow her to spend what she makes. The girl should also be able to get some comfort from her boyfriend but he doesn’t love her that much to be by her side at all times. It’s a wonder why the young star sticks with him at all.

ONE of the alleged reasons why the young actress’s relationship with the young actor did not really prosper is because of the way she is with people who work with them and for them. She talks down at people as if to the manor born when, in fact, she has a cousin who is filthy rich but is kind and considerate.

The young actress seldom smiles and if she does, it’s only for a select few people who she deems her equal.

Perhaps the blame shouldn’t be the young actress’s burden alone as her mom is the exact same way.

Even her sister acts the same way. It’s not her, it’s her upbringing.

MATERIAL GIRL

NICKI MINAJ performs on stage during the MTV EMA 2018 at Bilbao Exhibition Centre in Bilbao, Spain. AP

international backlash since October over the killing of Saudi critic and writer Jamal Khashoggi by Saudi agents close to the crown prince in the kingdom’s consulate in Turkey.

Such concerts are a stark change from when the Saudi morality police would raid establishments that

played loud music.

Gender segregation between single men and women is still enforced in many restaurants, coffee shops, public schools and universities, but other rules have loosened with women now allowed to drive and attend events in sports stadiums. n

RICO BLANCO

It was during this downtime that the acclaimed singer/ songwriter was able to pursue other passions and goals, with the encouragement of his family: traveling, painting, photography and, as far as the closest thing to work was concerned, duties as president of the Filipino Society of Composers, Authors and Publishers Inc. But just as sure as you can’t keep a good man down, or in Blanco’s case, you can’t keep a great artist destined to reach for even greater heights, Rico found himself, yet again, achieving the goals he had set, and satisfying his thirst for his nonmusical exploits and projects.

“It sounds funny, I know,” Blanco chuckles, “but I was able to plant flags into the long-term goals I had set and was able to regain my peace of mind. So, while I’m literally waiting for the paint and cement to dry from what I had started to build, I now have this window of time to explore, create and collaborate in music once more.”

“Nagbabalik” is released under the Balcony Entertainment Label and is now available on Spotify, iTunes, Apple Music and various digital service providers.

Consequently, it is exactly a month before Blanco will join IV of Spades in what is gearing up to be the biggest local concert event of the year on August 3, to be held at the Metrotent Convention Center at Metrowalk in Pasig City. Already, it’s looking to be a sold-out show. It seems “Nagbabalik” is not just a declaration of Blanco’s return to the local music scene, but also symbolic of the resurgence of local music once again in both the studio and stage.

Paul McCartney’s ex-wife gets UK phone-hacking apology, payout LONDON—Heather Mills, the former wife of Paul McCartney, and her sister have received an apology and a settlement from Britain’s defunct News of the World tabloid over the hacking of their phones.

Heather Mills and her sister Fiona Mills both received a formal apology in Britain’s High Court on Monday. In a statement read outside the court, she said she felt “joy and vindication” at the settlement.

“My motivation to win this decade-long fight stemmed from a desire to obtain justice, not only for my family, my charities and myself, but for the thousands of innocent members of the public who, like me, have suffered similar ignominious, criminal treatment at the hands of one of the world’s most powerful media groups,” she said.

Mills is one of a number of celebrities who have received settlements in the prolonged phone-hacking scandal, which closed the Rupert Murdoch-owned News of the World in 2011. The paper was found to have

BLIND SPOT

NOT A GOOD GIRL

Rico Blanco returns to local music in epic fashion WITHOUT a doubt, July 3, 2019, was a red-letter day to be remembered for decades to come, as the one and only Rico Blanco officially marked his return to the fold, via an explosive first single “Nagbabalik,” which finds the master songwriter collaborating with one of the millennium’s most humongous live acts, IV of Spades.

This definitely comes as a welcome surprise to music fans of all ages, as Blanco—a Filipino music icon who has written and performed a wealth of the most enduring classics in Philippine music history—had been on a self-imposed hiatus from releasing new material, touring and performing starting around two years ago.

Blanco had nothing else to prove, and, more important, he was happy, grateful and pleased with all that he had accomplished. It was, as the old adage goes, the perfect time to quit: while at the top.

“By the end of 2016, I asked myself: When does it really stop?” recounts Blanco, in what is possibly the first sit-down interview he’s done in a while.

“Don’t get me wrong, I was so thankful that the blessings kept coming, but then the question I kept asking myself was ‘When do I get to do those other things I always said I would do?’ So despite being counterintuitive, on January 1, 2017, I made a decision to choose work that was fun and interesting to me—not work that was part of some strategy, or work that would lead to an even bigger plan or goal. I realized I had more than what I needed, and that I found this certain contentment,” he shared.

Wednesday, July 10, 2019

hacked into the voicemail of many prominent Britons in a gross violation of privacy.

A representative of the tabloid said it apologized to the Mills sisters for “the distress caused to them by the invasion of their privacy by individuals working for or on behalf of the News of the World.”

The size of what was called a “substantial settlement” hasn’t been revealed.

The Mills’s lawyer, David Sherborne, said the sisters had been subjected to “sustained and repeated invasions of privacy” by people working for the newspaper. “The claimants believe that the publication of articles in the defendant’s newspapers had a seriously corrosive effect on [their] relationships with their friends and family, some of which can never be repaired,” he said.

Mills and McCartney divorced in 2008 after a prolonged court clash over the size of the settlement she would receive. AP

HEATHER MILLS speaks at the end of her legal phone-hacking claim against News Group Newspaper in London on July 8. AP

SHE’S called “Buy Me” behind her back because the celebrity has a reputation for dating rich and powerful men. So far, she has amassed designer bags, expensive clothes and, more recently, a car. Her most recent boyfriend has already taken her on a trip out of the country. But it seems that the celebrity is sulking as she believes that she deserves more than that short trip. The powerful boyfriend, on the other hand, has reportedly told friends that he is overwhelmed by this beautiful celebrity, and he wishes she’d be less vocal in her desire about wanting material things from him.

SILENCE

SO now we know that some money has exchanged hands in the case of a controversial incident involving a well-respected personality and his longtime partner. The lady would have sought legal action after what happened to her partner. Unfortunately for her, the other party involved in the incident had already reportedly given compensation to the celebrity’s relatives. These relatives are now quiet. Even sadder for the lady is the fact that she has no legal claims over the celebrity as she is supposed to still be married to her ex-husband. So what is her next move? Nobody knows. She is smart so everyone is waiting for what she does next.

Stevie Wonder says he’s getting a kidney transplant in the fall LONDON—Stevie Wonder surprised concertgoers in London on Saturday night by announcing that he will take a break from performing so that he can receive a kidney transplant this fall.

The 69-year-old music legend made the announcement after performing “Superstition” at the end of a packed British Summer Time concert in London’s Hyde Park.

He said he was speaking out to quell rumors and sought to reassure fans that he would be okay.

“I’m going to be doing three shows, then taking a break,” he said. “I’m having surgery. I’m going to have a kidney transplant at the end of September this year.”

He said a donor has been found and that he would be fine, drawing cheers from a devoted crowd of tens of thousands that stretched out from the stage as far as the eye could see.

“I came here to give you my love and to thank you for yours,” he said. “You ain’t gonna hear no rumors about us. I’m good.”

He did not provide additional information about his kidney illness. There had been a recent report that Wonder was facing a serious health issue.

A representative for Wonder didn’t immediately respond to a request on Saturday for details about his health. He has kept an active schedule, including performing recently at a Los Angeles memorial service for slain rapper Nipsey Hussle.

Wonder, who has received more than two-dozen Grammy Awards, has produced a string of hits over a long career that began when he was a youngster who performed as Little Stevie Wonder. His classic hits include “You Are the Sunshine of My Life” and “Living for the City.” AP

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Wednesday, July 10, 2019

www.businessmirror.com.ph

5 GOOD TIMES TO SHOP FOR ALMOST ANYTHING

Pass it on SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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HEN I was still a new educator, one of my professors, Dr. Karl Luff, took me under his wing and told me he was going to mentor me. I did not know what he meant but I thought to myself that being a new teacher, I needed all the help I could get. Little did I know that he would become part of a string of people who would help me become the person I am today.

And even after leaving that school, his lessons keep me grounded and focused on how I manage my team and myself. I am also fortunate that for every new company I go to, there is always someone who would mentor and guide me.

Mentoring can be formal or informal but the end goal is the same—a knowledgeable person guiding a greenhorn on how to navigate the career path one has chosen. Similar to the apprenticeship in medieval times, it prepares someone new to the profession a way of building up skills and ways of thinking to ensure a smooth transition, grooming the new person to succeed. The mentor is naturally the one who has been in the profession longer, and has mastery of most, if not all, the workings of the profession. In order for mentoring to work, the mentee needs to trust the mentor so development pitfalls can be avoided and the mentor can freely correct the mentee, in private, when needed.

Now that I manage a team, I have realized that for me to grow my professional career and effect personal growth, I need to mentor others and pass on what I learned from my previous mentors.

My success as a leader can be gleaned from the number of people I have mentored and who have become leaders in their own right. Not only that, I discovered from mentoring others, I have reaped the following benefits.

Mentoring improves your communication skills.

To become an effective mentor, I need to make sure I am understood and if I am not, I find ways. I might have all the wisdom in the world but if people do not understand what I am saying, what good is it?

Communicating does not mean just knowing the words to say but how to say it. Truth spoken without grace only incites opposition and distrust. I have realized that understanding who I am talking to helps me understand which words would work best

for a person. Avoid canned responses and cookiecutter replies—not all think the same. You need to understand each of your team’s temperaments and see which ones best work with them. Knowing your team also helps you understand when you need to tighten the reins and when to let them have creative freedom.

Your confidence increases as you mentor others.

Taking the time to mentor others gives you a sense of satisfaction from being able to help others. One of our intrinsic needs is to be needed. When we mentor others, our need to be needed is validated when someone believes in us. I don’t mean to say you mentor others for self-aggrandizement because

your accountability. When you mentor others, it brings you back to the basics of your profession and helps you remember why you are in that career in the first place. And then you become aware of whether you have stayed true or if you have wandered. As a leader, you can only preach what you practice. By mentoring others, you become aware of your own inadequacies and opportunities for improvement.

It then becomes a guide for you in your own professional development plan. By having people look up to you, it behooves you to act in accordance to what you have taught them and they become your check and balance in ensuring you practice what you preach.

Mentoring others is a privilege and a trust given to you by your team. You owe it to the people who have mentored you to pass it forward by mentoring others to be the future leaders in your profession. Your growth as a leader depended on other people willing to take the time and effort to help you develop as a leader. Now that you are a leader, it is time for you to pass it on and train the next batch of future leaders. that would distort the very nature of helping others.

There is a sense of fulfillment in being able to share what you know to others and helping them succeed.

In turn, this will also increase your motivation that you are doing well because you are already teaching others how to be better at what they do.

And knowing you helped in making the other person grow is testament to your own abilities and leadership skills.

Do this often and you will be recognized for your skills and experience in the field. Contributing to the growth and development of others helps in increasing your influence through others. Even if they do not talk about you, people will see results. And if people see your team succeeding, they will see it as proof of your competence as a leader who takes the growth of their team seriously. Mentoring key members of your team to hold leadership positions later on also helps you keep the team together, and helps you understand their predicament faster and address them expediently.

Another advantage of mentoring is it increases

MAKING HEALTH CARE MORE ACCESSIBLE TO ILONGGOS A leading health-care provider, Maxicare Healthcare

Corp. (www.maxicare.com.ph) recently established its newest health pod in Startek Philippines Inc., a call center and BPO in Iloilo, to ensure better access to health-care services for its employees.

The latest health pod is a fully automated system that manages patient-queuing, and makes gathering of initial vital signs quick, accurate and hassle-free. It offers convenient and time-saving way for employees to get their letter of authorization. The latest Maxicare health pod is at Two Global Center, Megaworld Boulevard, Mandurriao, Iloilo City. In photo are (from left) Maxicare Senior Assistant Vice President and Group Head of Corporate Sales Fiona Lava-Victoria, COO Nelissa Badal, President and CEO Christian Argos, Startek Global COO Peter Martino, Startek Philippines COO Parikshat Nagpal and Startek Philippines Human Resource Vice President Ana Maria Magsaysay.

It should help you make decisions easier because your team knows how you would react because they know your values framework.

The most important benefit of mentoring others is replicating yourself. I do not mean leaders who think and act like you, but people who share your vision and values, or, if not, people you have equipped with the tools they need to have a vision for themselves and their own teams. There will be points of departure with you and the people you mentor and you have to be comfortable with that. Mentoring others means you are helping them become their own kind of leader.

And whatever the outcome, you are a big part of their growth as a leader.

Mentoring others is a privilege and a trust given to you by your team. You owe it to the people who have mentored you to pass it forward by mentoring others to be the future leaders in your profession. Your growth as a leader depended on other people willing to take the time and effort to help you develop as a leader. Now that you are a leader, it is time for you to pass it on and train the next batch of future leaders. n

THERE’S a best time to buy just about anything, but knowing which product will go on sale at what time isn’t always easy.

So here’s a list of general shopping rules that can apply to most things you’ll buy. With these tips, you can figure out the best time—or at least a good time—to purchase almost anything. Below are five great times to shop.

1. THURSDAYS. Shopping at a brick-and-mortar store on a Thursday afternoon or evening can be cost-effective. This one isn’t a guarantee every time, but it’s a good bet, according to Kristen Regine, a professor of marketing at Johnson & Wales University in Rhode Island who holds a doctorate in business administration. “Thursday is an important day for consumers to know because that’s when stores take markdowns,” Regine says. “They’re prepping for the weekend. They know they’re going to get the most foot traffic on Fridays, Saturdays and Sundays.”

2. HOLIDAY WEEKENDS. In some cases, Mondays are better. Expect big deals on weekends leading up to holidays, says Darrin Duber-Smith, a senior lecturer of marketing at Metropolitan State University of Denver. That can apply to a wide array of products, but particularly big-ticket items like cars. “A three-day weekend is always great for buying,” Duber-Smith says. “That’s just a general rule. When there’s a day off—a Monday off—that is a big deal because it’s three days of buying instead of two.”

3. CLEARANCE EVENTS. A key to shopping is buying products when retailers are liquidating them and moving them to the clearance rack. After all, stores have to run out of the old stuff before they can stock the new stuff.

For example, furniture is typically restocked twice a year—February and August—according to Duber-Smith.

That means older furniture styles are usually on sale in January, in July. “Inventory is the bane of all retailers,” DuberSmith says. “You want to get rid of something at cost or even below cost because you think you can make money off of something that’s going to replace it on the shelves.”

Always check the clearance rack. And while you’re at it, pay attention to colors. Regine says some clothing retailers mark down items according to color, rather than by category.

For example, you may find a bunch of blue or purple apparel on clearance after the color didn’t resonate with consumers or sell well.

4. SAME TIME AS LAST YEAR. If you can’t remember when these types of sale events will roll around, the deals retailers have hosted in the past are usually a good indication of deals they’ll host in the future.

To learn about these sales, Regine suggests asking a store sales associate about current and upcoming promotions.

Online, keep old retail e-mails in your inbox so you can track sales and anticipate when they’ll happen again.

Holding onto those marketing e-mails can also help you compare current prices with prices the store has offered in the past so you can better judge the value of a deal. That 20-percent off sitewide might not be as enticing if you saw the same retailer offer 30-percent off sitewide last month.

5. WHEN APPS TELL YOU. You don’t have to do all the deal legwork on your own. Regine recommends leaning on technology to help you figure out when you should buy something you’ve been eyeing for a while. There are shopping apps that will notify you of price drops on certain items you want. “Let the apps do the work for you because there is no easy, simple guide,” Regine says. AP

THE MakatiMed research team at the Philippine National Research Institute.

MAKATIMED RECEIVES GRANT FOR STEM CELL STUDY

THE Department of Science and Technology awarded a P16.4-million grant to Makati Medical Center’s team of doctors and scientists for a study on the use of stem cells as treatment to wounds caused by diabetes. This makes MakatiMed (www.makatimed.net.ph) the only hospital in the Philippines to receive a DOST grant for a research on umbilical cord-derived stem cells.

The proposed study, “Evaluation of the Safety and Efficacy of Intramuscular Transplantation of Umbilical Cord Derived Mesenchymal Stem Cells for Diabetic Foot Ulceration,” received the funding from DOST’s Research and Development Management Division of the Philippine Council for Health Research and Development.

The research aims to examine how stem cells from umbilical cord tissues, which are normally discarded after giving birth, can potentially accelerate the wound healing process of patients suffering from the complications of diabetes. The study also projects that using Human Umbilical Cord Mesenchymal stem cells will reduce the need for invasive and painful cell extraction procedures, such as bone marrow aspiration and adipose tissue liposuction, thus possibly cutting the high cost associated with generating cell-based treatments.

“We at MakatiMed always aim to give hope to our patients through our services,” says Jose Maria C. Avila, MD, the study’s principal investigator and codirector of MakatiMed’s Center for Regenerative Medicine. “Receiving the support of DOST is a great boost to our cause and we hope that this will pave the way for more innovative cellular treatments.”

Also part of the research team are coinvestigators Victor L. Gisbert, MD; May H. Ortiz-Sison, MD; R.J. Gerard J. Panlilio, MD; Teresita E. Dumagay, MD; and Jayson S. Santiago (junior scientist); as well as Rodmar C. Pulido (project consultant); Benjamin Maligalig (project statistician), Kimberly Joy R. Sermon, RMT, MBA-H (project manager) and Christian Carl B. Camacho, RPh (project monitor).

BusinessMirror E1 | Wednesday, July 10, 2019 • Editor : Tet Andolong

ALVIERA country club

ALVIERA ROCKS PORAC WITH CONTINUOUS DEVELOPMENT

By Rizal Raoul S. Reyes

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@brownindio

LVIERA, a joint development between titan Ayala Land Inc. (ALI) and Leonio Land, continues to rock Porac, Pampanga, with its array of development projects designed to make the 1,800-hectare master-planned estate as the premier hub in the province.

Recently, it opened Alviera Country Club, a 5.6-hectare sports and leisure club to boost the estate’s position as catalyst for residential, business and tourism growth in Pampanga. This is complemented by the construction and infrastructure development in the province.

ALI has ensured Alviera Country Club will be the center of activities in Luzon as it has a host of amenities like a network of swimming pools, gym with studio, multiple courts, spa, game console room, ballroom, function rooms and restaurants.

Designed by Leandro V. Locsin Partners, the theme emphasized on the concept of harmony, urban living and nature.

“With the landmark opening of the Alviera Country Club, Alviera is positioned to be the center of sports, leisure and recreational that features a diverse mix of residential dwellings, commercial districts, industrial parks, institutions and leisure facilities activities in the area,” said Melanie Eugenio, Alviera project development manager, in a press briefing held on July 5 in Porac, Pampanga.

Initially launched in 2014, Alviera has initially developed 400 hectares covering roads and utilities, residential, industrial, commercial and institutional districts.

These include Ayala Land’s residential brands and their various projects, specifically Avida Settings Alviera, Avida Northdale Settings, Alveo’s Montala Alviera and The Greenways, and Park Estates from Ayala Land Premier.

Meanwhile, Alviera Industrial Park 1 and 2, Alviera East Commercial Center, Alviera Country Club, the Sandbox outdoor adventure park, Holy Angel University, Miriam College Alviera and the La Salle Botanical Garden also fall in this area of development.

ALI is also focused on developing the infrastructure network of Alviera to make sure the locators and residents will have

smooth movement in the area. So far, Alviera has completed 9 kilometers of roadwork and have 3.3 kilometers currently under construction. The property colossus also reported water systems, sewer and drainage work have also been extensively done, and construction continues to this time.

It has chosen Manila Water Philippine Ventures for water and sewage connections. As for telecommunications, a Smart Communications tower is now operational offering wireless communication services.

Globe Telecoms is finalizing permits and will soon be just as accessible in the area.

Eugenio told the media the residential area is one of the fastest-growing districts in the estate. She said Avida Settings Alviera and Alveo’s Montala Alviera are individually 98-percent sold. Park Estates at Alviera from Ayala Land Premier is sold-out.

Meantime, Avida Northdale Settings Alviera, a house and lot offering, is now 70-percent sold.

ALVIERA master plan

ALVIERA Industrial Park

Top luxury brand Ayala Land Premier delivers the high-end touch in living as it is working on its second residential project, while Avida Land and Alveo Land are each planning on their third residential projects in the estate.

Alviera has evolved into a dynamic estate as diverse elements like residences, schools, industrial parks and leisure areas come together in the development. These include a broad range of residential options from three Ayala Land residential brands: Avida Land Corp., Alveo Land and Ayala Land Premier. Land values have appreciated by 25 percent since the estate launched in 2014.

Alviera has been on the radar of property investors as Avida Settings Alviera is now 98-percent sold. Avida Northdale Settings Alviera, another house and lot offering, has been well-received with sales take-up currently at 70 percent. The Avida communities are closest to Alviera’s central business district and commercial areas. Residents headed to work will find their workplaces just minutes away.

The upper middle market is also keen as Montala Alviera from Alveo Land is also 98-percent sold. Meanwhile, lot buyers of Alveo have an option with their second residential community, The Greenways.

The project has a current sales take-up of 60 percent. The Greenways is a community that builds on Alviera’s natural greenery with a central amenity park, pocket parks and linear parks across the neighborhood.

For the luxury market, Ayala Land Premier offers Park Estates at Alviera as its first exclusive residential project in the estate. The 14-hectare property will be an exclusive community featuring only 68 lots in generous cuts of 1,000 to 1,600 sq m. The neighborhood is closest to the Alviera Country Club. Park Estates has already sold-out.

Land development for the Alviera East Commercial Center nearby continues and is set to be finished by next year. Educational infrastructure is also set as Miriam College Alviera, and Angeles-based Holy Angel University, and the La Salle Botanical Garden will be part of the initial 400 hectares under development.

Miriam College Alviera has a target opening by 2023. The Angeles City-based Holy Angel University is targeting 2022 for its opening in Alviera. Course offerings will be Arts, Design, Management and Technology, Engineering, Architecture, Hotel and Restaurant Management and Animation.

As far as the industrial locators are concerned, Eugenio said Monde Nissin Corp. will be fully operational at the industrial park by next month. It will have a work force of about 200 employees.

Laguna Technopark Inc. and Mitsubishi Standard Factory Building locator, Badan Building Materials Corp., a manufacturing company of engineered stones, will be fully operational by July 2019 with 150 expected employees.

“We have other upcoming locators such as Heavy-Duty Manufacturing Inc., which will be breaking ground on their Alviera Industrial Park warehousing facility within the year,” she said.

Meanwhile, Eugenio said the construction for the 32-hectare Alviera Industrial Park 2 is on track for completion by the first quarter of 2020. She added, “Alviera Industrial Park is going to host light to medium, non-polluting industries and is open to Philippine Economic Zone Authority and non-Peza locators.

“Over the next five years, we expect to build up another 300 hectares covering commercial lots and more residential projects from Avida Land, Alveo Land and Ayala Land Premier.”

Business

E2 Wednesday, July 10, 2019

Boutique developer wins big in Shanghai

MANAGING Director Ricardo Cuerva discusses how the journey of Nova Group began as a niche developer in Metro Manila then quickly transitioned to multiple large-scale projects in Ortigas, Makati, and Bonifacio Global City.

Amor Maclang

FIRST DIBS IN REAL ESTATE

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Conclusion

AST two questions with Nova Managing Director Ricardo Cuerva, who shared with us what’s in store for Nova.

What’s the winning design intent behind NEX?

Quite simply, we sought to create the finest workplace you

could possibly build on that site.

We commissioned SOM, the best architects in the world for office towers, we sourced the finest ma-

terials globally for the project and we embedded ourselves and lived on the site from day one up to completion to make every design decision required to make that happen. The formula isn’t much different from when we developed and built Essensa, which changed the landscape for luxury residential high rise back in 2000.

Sustainability is a word that’s thrown around a lot in the industry, but from the outset, we made a strong commitment to reach for the highest green standards for the project. We didn’t treat sustainability as a mere checklist for compliance, but we went beyond that and built truly innovative features such as the massive green wall in the lobby and multiple garden spaces throughout the building.

What’s in the pipeline for Nova?

We are in the planning stages of a new office high-rise project that will be even more extraordinary than NEX Tower. It will raise the bar for commercial real estate even higher. I’m unable to share more details for now, but

you’ll definitely hear more about it soon.

When building NEX Tower, the developer focused on providing an open and inspiring environment for tenants, visitors and the greater community. This included an integrated approach to health and wellness that utilizes biophilic design and carefully manages natural resources. The unique approach helped the tower achieve the highest sustainability criteria. Mario Veloso, director of VelcoAsia, remarked, “We envision NEX Tower as the premier workspace for leading companies that value integrity, professionalism and entrepreneurship, and we welcome these companies as our tenants.”

Ame Engelhart, ULI trustee and awards chairman, commended the high quality of project submissions for the awards program.

She observed, “It’s nice that we can have an Asia Pacific award to recognize projects that often come from large, super high-density cities such as the Greater Bay Area, Singapore and Metro Manila. These cities have many more

challenges than a lot of North America and European cities... it’s good to be able to adjudicate projects based on the constraints and opportunities in Asia.”

The full list of awardees of the 2019 ULI Asia Pacific Awards of Excellence includes: n Aoyama Building, Tokyo, Japan (Developer: GreenOak Investment Management K.K., CoOwner: Mitsubishi Estate Co. Ltd.) n Barrack Place, Sydney, Australia (Developer: Investa Property Group, Owner: IOF Custodian Pty. Ltd.; Designers: Architectus Group Pty. Ltd.) n COFCO Landmark Plaza, Beijing, China (Developer: COFCO Group; Designers: Skidmore, Owings & Merrill Llp., Beijing Institute of Architectural Design) n Fish Lane, Brisbane, Australia (Developer: Aria Property Group, Ow ner: Brisbane City Council; Designers: Archipelago, RPS, Urbis) n Guoco Tower, Singapore (Developer: TPC Commercial Pte. Ltd.; Designers: Skidmore, Owings & Merrill Llp.) n Knowledge and Innovation

Community, Shanghai, China (Developer: Shui On Land; Designers: Skidmore, Ownings & Merrill Llp., Palmer & Turner, Atkins, Charpentier Architecture Design, Terry Farrell & Partners, Tongji Design Institute, BWSS, Gensler, Tianhua, Leigh & Orange, Hassell, 3XN, AECOM, EMBT) n Lingnan Tiandi LNTD Lot 1, Foshan, Guangdong, China (Developer: Shui On Land; Designers: Skidmore, Owings & Merrill Llp., Ben Wood Studio Shanghai) n NEX Tower, Makati City, Metro Manila, Philippines (Developer: Nova Group; Designers: Skidmore, Owings and Merrill Llp., R. Villarosa Architects, Nova Construction, Sy2 Associates) n Pacific Place, Hong Kong SAR, China (Developer: Swire Properties Limited; Designers: Wong and Ouyang (HK) Ltd., Heatherwick Studio, AFSO) n People’s Place, Kai Yip Recreation Centre, Hong Kong SAR, China (Developer: Gaw Capital Partners-Led Consortium; Designer: SLAB, Trilingua Design, One Bite Social Design).

Wilcon breaks ground in Makato, Aklan

HOME

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HE Philippines’s leading home improvement and construction supply retailer, Wilcon Depot, successfully held another groundbreaking ceremony in Makato, Aklan.

Eagerly fulfilling their aspiration of bringing their retail stores to more key cities and provincial localities,

the retail giant marks another business milestone on June 28 at Barangay Calangcang, Makato, Aklan, for the groundbreaking of Wilcon Depot Makato Aklan, their eighth branch in the Visayas region.

With Wilcon’s plan to reach and serve more Filipino home builders and homeowners all over the coun-

try, expect more upcoming branches in different localities and provinces to be revealed soon.

For more information about Wilcon, log on to www.wilcon.com. ph and shop.wilcon.com.ph, or follow them at their social-media accounts on Facebook and Instagram at @wilcondepot.ph.

REPRESENTATIVES from Solane LPG turn over cleaning implements like trash cans and dust pans to Bani Elementary School. (Right photo) Roberto Roldan Jr. as the winner of the fourth regional leg of the Solane Kitchen Hero Chefs’ Edition

SOLANE LPG SUPPORTS BALIK ESKWELA 2019

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OLANE, the country’s leading LPG solutions provider, suppor ts young minds of Bani Elementary School through the Balik Eskwela 2019 initiative.

Solane gave cleaning implements like trash cans and dust pans to the school during the handover program.

Also, Roberto Roldan Jr. from

Palawan emerged as the winner of the fourth regional leg of the Solane Kitchen Hero Chefs’ Edition—a nationwide cooking competition that aims to recognize a new generation of local talented chefs. Roldan bested five other contestants for his winning dish, Herbs and Cashew nut-crusted Beef Tenderloin in Bistek Sauce. He will

have the chance to qualify for the national competition round with a grand prize of P100,000 and a culinary trip to Japan. The Solane Kitchen Hero Chefs’ Edition is sponsored by Midea, Jolly Heart Mate, Doña Elena Al Dente Pasta, Masflex Cookware, King Sue, Anvil Publishing, Ajinomoto, Philtranco, Fast Cat, and Chef Plus.

CHRISTIAN LIMA (from left) and Patrick Fabrijar from the Mayor’s Office; Mayor Abencio Torres, Municipality of Makato, Aklan; Johnson Dy, contractor of Blue Jay Engineering and Surveying Services; Engr. Paulo Dorado, Wilcon Corp.; Arch.

Edyjob Rivera, Wilcon Corp.; and Juanito Jacinto, project supervisor of Blue Jay Engineering and Surveying Services.

sMirror

Wednesday, July 10, 2019 E3

Celebrations beyond ordinary at The Fifth

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VERYBODY loves to celebrate.

So much so that it has become second nature for many to throw a smashing birthday bash, gush over a sumptuous lunch about a love that endured years of togetherness, honor achievements with your kin in the newest resto in town or simply celebrate a life well lived with an intimate dinner among dearest friends.

Nonetheless, such priceless moments deserve only the best—no matter how small or how lavish and grandiose, no matter how pompous or solemn these may be. From the food, the outfits, the motifs and the décor, down to the setup of the tables and chairs—every painstaking detail counts to create those spectacular moments forever etched in your memories.

Of course, just as important is the location—the event hall itself, where everything culminates.

At the heart of Rockwell Center is the newest events hall in the Metro—promising to redefine the way such momentous occasions should be celebrated.

The Fifth is Rockwell’s latest events hall that exudes its signature brand of elegance and exclusivity. Here is a stylish 1,380-square meter blank canvass that you can transform according to your whims

and wishes, depending on the milestone you wish to celebrate: birthdays, debuts, anniversaries, fashion shows, Christmas parties, company functions, product launches, and even small concerts, auctions and bazaars.

Usher your guests into the prefunction area, where you can have your cocktails or refreshments before the main event. Going into the main hall, you’ll have over 1,000 sq m of space perfect for any type of occasion, with unique patterns adorning its high ceiling, carpeted floors, neutral color palettes, clean lines, as well as ambient lighting to set your desired mood.

As soon as you enter its wide doors, welcoming you to enter its lofty halls, you would find yourself picturing your next big celebration here.

A banquet-style celebration will allow you to sit some 500 guests at

the main hall, while a cocktail setup will allow you to invite about 800 of your family, friends and colleagues.

Bringing that unparalleled level of convenience and beyond ordinary experiences is the biggest indoor panoramic LED screen in Southeast Asia. The three combined screens display a superior visual experience as it amplifies on-screen content through HDR picture quality—thus making celebrations at Rockwell all the more memorable and unforgettable.

Adding distinction to The Fifth is the fact that it also offers two VIP rooms tastefully designed for the comfort of the celebrant, speakers and other guests. Here, the VIPs will have enough room to prepare, whether it’s for a last-minute touchup on their speeches or a final run for the newlywed’s first dance. A Secretariat Room, designed mainly to be a war/meeting room, will allow you to brush up on the details prior to the grand festivities. Other inclusions, meanwhile, include the use of two dressing rooms, a projector, a fully equipped kitchen and basic sound system.

And so far, much has already been celebrated at The Fifth.

Marking milestones

SINCE its opening, The Fifth has attracted companies from different industries to hold their meetings, events and conferences here, such as Ford Philippines, which held the 2019 Henry Ford Awards here last February.

Other firms that have started to hold their events here include First Philippine Holdings, which

had its executive learning session in February, featuring international speaker Ranjay Gulati, a professor of Business Administration from Harvard Business School, who addressed some 350 seminar attendees; and Turner Broadcasting System, which hosted Turner Upfront 2019, an annual trade event showcasing its latest channel and advertising offerings to various media agencies, direct clients, cable affiliates and partners.

Company parties and social gatherings are becoming common too, with the likes of Manila Electric Co. hosting the Meralco Engineers’ Reunion in February this year, and Ogilvy Philippines celebrating its Christmas party here.

The elegance and sophistication of an awards night perfectly fit the vibe exuded by The Fifth and it thus comes as no surprise that many of today’s biggest firms recognize this, including Hyundai Philippines which held its Dealer of the Year and Individual Performance Excellence Awards 2019 last April 3.

Counting memories

FAMILIES will never run out of reasons to celebrate, whether it’s about welcoming a new member such as baby showers and gender reveals, a christening ceremony, birthdays, recognition and graduation, weddings, anniversaries and even engagement parties. Every heartwarming and sentimental occasion indeed calls for a huge and meaningful gathering among kin.

What therefore makes The Fifth the perfect option is the fact that it is versatile, as its huge open layout

allows you to transform the hall to make every milestone even more memorable, whether you’re creating an awesome birthday themed party for the li’l superhero or princess, a mystique masquerade ball for your debutante or a heartfilled celebration for your special someone.

Of labels and runways

GIVEN the outstanding features and sophisticated design that The Fifth offers, many product launches and fashion shows have been held here, as companies see the venue as the perfect platform to showcase their brands. The Fifth will indeed set the stage for any label as seen in the number of highly prestigious events that it has hosted thus far.

The official distributor of BMW in the Philippines, for one, deemed it befitting to launch the all-new X5, where celebrities, the media and other society personalities gathered for a night of revelry.

The L’Oréal Group also held a hair fashion show and product launch here at The Fifth, in celebration of Kerastase Paris’s 20th anniversary.

In lieu of supporting Filipino designers and local talent, a fashion show was, likewise, held at The Fifth by Metro magazine’s Metrowear, which celebrated Vania Romoff as its icon for the year 2018.

Fabulous finds

A HOST of fairs had made The Fifth as their base including the Spectrum Bazaar, which was the first bazaar to be held at this events hall. Organized by Alyssa and Pia Arellano, this two-day fair in De-

cember 2018 housed exciting local shops in time for the holiday shopping, and had generated a whopping foot traffic of about 4,000 guests a day.

A couple of bazaars targeted for mothers and starting families were already held here. But more than just a selling event, these had also served as a significant guide, especially for first-time parents and growing families who want to immerse themselves on the latest products and tips that could aid them toward a more effective parenting. One of these bazaars was the two-day Mommy Mundo Fair last February, which gathered more than 60 local brands and shops including Kindermusik, Janod, Laya and Best Buddies Philippines, all targeting mothers and starting families. The bazaar also featured a series of activities and talks about breastfeeding, healthy pregnancy, active parenting and mompreneurship. Another was Momzilla Philippines, which also had its two-day run last March, housing over a hundred local brands and hosting a series of parenting talks by The Parenting Emporium.

Regardless of the occasion, what matters most is celebrating in a highly versatile yet sophisticated space will allow your imagination to run free and enable you to transform its halls to create pictureperfect moments beyond ordinary.

Here, indeed, experience grandeur in both your personal and business milestones—bringing the Rockwell lifestyle to your most precious occasions at the heart of it all.

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Upgrading tools and skills for property boom T

HERE is a massive construction boom in the Philippines; many of the projects are of a grand scale, and need to be completed within often impossible time frames. These factors contribute to making upgrades in the capabilities of contractors, both in terms of equipment and skills, absolutely vital. This is why RIDGID, a manufacturer of innovative tools for professional artisans and contractors formed RIDGID Club Philippines, the first club of its kind in the region.

According to the Philippine Statistics Authority (PSA), the total number of construction projects just between April and June of 2018 was 29,060 residential, 5,644 nonresidential, 1,511 upgrades to existing structures, and 3,697 alterations and repairs. These overwhelming numbers are why builders and contractors are looking for new methods and technologies to improve productivity, efficiency and profitability.

THE FlexShaft cable (left) is the first declogging tool on the market that can be used side by side with SeeSnake camera (right) systems to actually watch clogs as they are broken down in deeply buried pipes

But even when new tools completely improve the way an old practice is done, people still need to be

trained in the new method, even if it is far easier. Such is the case with RIDGID’s premium tools, the new

procedures are often significantly different from anything that came before them.

That is why RIDGID Club held its annual sports fest for the second time in as many years, to offer new training with new tools and new methods, and to make that training fun. The event was done on a Saturday, at the Quest Adventure Camp, well outside of Metro Manila, and only a trophy and bragging rights were at stake. Despite these, it was well attended and enthusiastically participated in by Those Who Know, a.k.a. members of RIDGID Club; professionals with a real desire to improve.

RIDGID Head Training Officer in the Philippines Joel Matosiños explained, “Many came to see the FlexShaft drain cleaning machine for the first time. Unlike previous models that use an exposed, spinning shaft, the FlexShaft’s cable is insulated, this means that it can be operated side by side with a camera when declogging.”

A lot of renovation work involves massive drain pipe declogging. This is the first time that the technol-

ogy is available in the Philippines to actually visually pinpoint a clog in a deeply embedded pipe, and then to deploy a solution that allows a plumbing contractor to see the clog being solved. Previous conventional methods relied on flailing blindly with brute force.

RIDGID’s methods take hours off dealing with difficult clogs.

At the sports fest, obstacle course challenges were mixed with tool proficiency challenges. Aside from using the FlexShaft machine, participants got to test their skills using RIDGID’s locator tools, and electrical tools. Many of these offer capabilities no other brand available in the Philippines can deliver.

“The objective of our activities is the help our members appreciate how RIDGID helps them perform the work that they do every day, by providing the highest quality tools; tools that make them more productive, safer and that are unbeatably durable,” said RIDGID’s marketing leader, Ivy Santos.

Entrepreneur BusinessMirror

E4 Wednesday, July 10, 2019 • Editor: Vittorio V. Vitug

Wok2Go offers healthy food for people always on the go

By Rizal Raoul S. Reyes

W

@brownindio

Contributor

HILE on a business trip to Amsterdam, Kim Garcia, cofounder of Wok2Go, saw a restaurant serving healthier menus at affordable prices. It was a lightbulb moment for Garcia as he thought the concept would be a hit in the Philippines, where an increasing number of Filipinos are looking for restaurants serving healthy food.

“I immed iately ca l led my cofounder Angie Mead King to tell her about this concept of a restaurant that we could introduce in the Philippines,” said Garcia in a recent interview with the BusinessMirror at the sidelines of the opening of the second Wok2Go restaurant at the Double Dragon mall in Pasay City.

Kim said the whole concept of Wok2Go was to create healthier food for the working crowd. Garcia and King allotted time and effort in their latest venture to serve the market looking for healthier options.

“We can sum up the Wok2Go concept in three words—fresh, fast and fun. We guarantee fresh ingredients.

Every wok mix comes with vegetables. And because the wok mixes are cooked in a wok, over high flame, we cook fast. The faster you cook, the less nutrients you kill in the food. We serve your food fast because we know that when you’re at work you’re only given one hour to take your meals.

The wait after you’ve given your order and you’ve paid can be as short as 2 minutes and 44 seconds. We make it fun by letting you customize your meal,” Garcia pointed out.

Wok2G serves Asian cuisine.

Their signature sauces are from the Philippines, Korea, Japan, Hong Kong, Thailand and Indonesia.

Although they have no experience in hotel and restaurant management, the two entrepreneurs are by no means chefs who enjoy cooking.

Wok2Go’s menu is composed of recipes of several chefs. The eight sauces were made by eight different people.

“When we decided to put up this

restaurant, Angie and I rolled up our sleeves in the kitchen. Since we both love spicy Korean food, the first sauce we created was our gochujang. The next was the sinigang sauce. For that, we approached the cook in our main company [Victoria Court] who makes the best sinigang. Then we sought the cook who makes the best binagoongan for our binagoongan sauce and so on,” Garcia said.

It took Garcia and King two years to complete the eight sauces because they refused to settle for regular standards.

“Until I say wow when I take a bite, I’m not selling it. Once I was satisfied with the taste, I asked a chef friend to fine-tune the recipes,” he said.

Garcia said Wok2Go has a casual atmosphere to encourage more people to come in and eat. The feel is a bit industrial, with unfinished concrete walls and white faux brick accent. The metal chairs are painted in green and black, and tables covered in wood laminate. The kitchen is open so customers can watch the cooks in action.

Wok2Go has an in-house delivery service, which covers a radius of 10 kilometers. With their two branches, Garcia said they can reach most parts

WOK2GO cofounders and friends for over two decades, Angie King and Kim Garcia

of Makati, Pasig, up to Eastwood in Quezon City. Customers can also opt to order through their delivery partners, GrabFood and FoodPanda. Or they may use Lalamove’s purchase service. Garcia said a customer can customize their own wok. Since they customize their own wok, they’re free to decide what they’re going to put in it. As a responsible corporate citizen, Wok2Go is also doing its share to promote sustainability.

“From the start, we tried to do away with plastic. We’re conscious about these things. We don’t sell drinks in plastic bottles, not even mineral water. We encourage our customers to bring their own tumblers, which we refill with water. All our utensils are made from bamboo, all our take-out materials are from paper,” Garcia said.

For every wok that it sells, P10 is donated to the institutions that Wok2Go support. This endeavor

started in June 2018. The money is shared by the Philippine School for the Deaf and the Philippine National School for the Blind.

“This is a lifetime commitment and the schools have been very happy about it. That’s been our biggest source of satisfaction, the smile we put on their faces when we deliver their checks. Through our donations, we were able to help rehabilitate classrooms and send some kids to a braille reading contest in Thailand and they brought home the top prize for three categories,” he said.

Garcia said the philanthropic act gives the company a high degree of satisfaction.

“When we hear news like that from them, we are reminded that what we are doing is worthwhile. It also pushes us to improve the business more because the more we improve the business, the more money we can give them,” Garcia said.

From the start, we tried to do away with plastic. We’re conscious about these things. We don’t sell drinks in plastic bottles, not even mineral water. We encourage our customers to bring their own tumblers, which we refill with water. All our utensils are made from bamboo, all our take-out materials are from paper.”—Garcia

www.businessmirror.com.ph

#SheMeansBusiness empowers women dominated start-ups

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O N N E C T E D Wo m e n , a global community of women entrepreneurs, freelancers and professionals, in partnership with Facebook and the Department of Information and Communications and Technology (DICT), welcomed over 230 women participants in the #SheMeansBusiness workshop held in Acacia Hotel in Muntinlupa City, one of the Information Communication Technology Centers for Excellence in the country.

The workshop participants heard from experts on online marketing and were given tutorials on tools that could help them start or grow their business online.

“Since 2017, #SheMeansBusiness has helped over 2,000 women entrepreneurs in the Philippines to build and grow their businesses. This year, we look forward to supporting more women entrepreneurs, by providing them with critical skills and tools to help them thrive in the digital marketplace,” said Beth Ann Lim, Facebook head of Community Affairs for Asia Pacific.

The #SheMeansBusiness program has been launched in 21 markets around the world, including the Philippines. It’s designed to reach both aspiring and established women entrepreneurs through a series of workshops and online resources that will arm them with the knowledge, skills, connections and technology required to build and grow their business.

“Thank you, Connected Women and Facebook for your collaboration to help thousands of women skill up, scale and provide them with the necessary support on how to conduct their business. We, at the DICT, are happy to work with Connected Women and Facebook to help us reach and teach women about ICT related livelihood opportunities and how to access them,” said Att. Ivin Ronald D.M. Alzona, DICT assistant secretary for Management and Operations.

From passion project to success story

TRIXIE DE GUZMAN, one of #SheMeansBusiness participants, was able to turn her passion project into a business in only a few

months. After attending the pilot run of the #SheMeansBusiness program in 2017, she gained the confidence to leave her corporate job and start a full-time online business. Trixie felt ready to set up a bag and accessory company called Genuinely Everywhere.

In the early days of the business, Trixie was double hatting as owner and sole crafter. The biggest challenge was to expand her business with little to no capital.

Through the #SheMeansBusiness program, Trixie learned how to market her products online and reach her customers more efficiently.

She set up her business page on Facebook and Instagram, where she connected and engaged with customers and enthusiasts— some of whom were stay-at-home mothers who wanted to be trained on leather crafting.

From being a retail provider fulfilling individual orders, her business has scaled to provide products for corporate orders.

Today, Trixie has expanded her operations and workforce, employing more full-time crafters to support the growth of her business. During peak production season, she also temporarily hires freelancing crafters that she has trained to ensure they can deliver to customers.

“Tools like Facebook have made it easier to grow your business and build better relationships with your customers. At Connected Women, we aim to educate women entrepreneurs and aspiring entrepreneurs on digital tools so they can scale their businesses and reach a global market, even while staying close to home. We hope women entrepreneurs who attend our events can take the lessons from the workshop to bring their business ideas to life,” said Gina Romero, CEO and cofounder of Connected Women.

The workshop in Metro Manila is the first of five free #SheMeansBusiness workshops all over the Philippines this year. #SheMeansBusiness will be holding a workshop in Baguio City this July 26th. For more information on the #SheMeansBusiness program, visit https://shemeansbusiness.fb.com/ph/ or to join the upcoming workshop in Baguio go to: connectedwomen.co/baguio.

Vape entrepreneurs push for ‘safer’ nicotine products

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7-ELEVEN OPENS 6TH STORE IN BICOL In its efforts to intensify its presence

in the Bicol region, 7-Eleven, the world’s leading convenience store chain, recently opened another franchise store in Bulan, Sorsogon, the sixth store in the province. The new 7-Eleven branch brings forth the company’s thrust of providing 24/7 convenience, wide selections and value for money products to the residents of Bulan. The store is strategically located near schools and offices to cater to their needs as well. Photo shows franchise operator of 7-Eleven Bulan, Dr. Arnulfo Laguda Jr. (Second from left), with some of the store crew during the store opening. The addition of Bulan outlet boosts 7-Eleven’s aggressive expansion plan of opening 5 more stores in Bicol (which Bulan is one of those). Aside from Camarines Sur, Camarines Norte, Sorsogon and Albay, the convenience store chain is also targeting Matnog for its expansion this year and Catanduanes in the next three years. With the entry of 7-Eleven in the said region, more brands and known establishments are now looking at investing within the area. “We know that Bicol is such a progressive region and 7-Eleven is glad to serve the fast-paced demands of its people for quality goods anytime of the day” said Mr. Uly Borral, Business Development Division unit head.

NTREPRENEURS from the vaping industry recently joined about 600 public health experts, academicians, industry executives and consumer advocates from 70 countries, including the Philippines, in an international conference forum in Warsaw, Poland, to ask government and health authorities to allow safer nicotine products.

Business executives who participated in the 6th Global Forum on Nicotine (GFN) said aside from ending the scourge of smoking, permitting safer nicotine products would support a fast growing industry.

About 62 countries currently regulate e-cigarettes under tobacco regulation, while 39 countries inappropriately banned safer nicotine products, according to the Global State of Tobacco Harm Reduction Report.

But the report estimates that by 2021, over 55 million people will be using e-cigarettes, or heat-not-burn tobacco products, and that the global market will be worth $35 billion.

The top five markets today are the US, UK, Italy, Germany and France.

Japan is the leading market for heatnot-burn tobacco.

Research firm Euromonitor esti-

mated the global market of e-cigarettes at $2 billion in 2012, a figure that likely hit $14 billion in 2018.

Euromonitor predicts that the vapor market will amount to $34 billion by 2021.

Many countries, however, still ban and penalize the use of e-cigarettes. “In my country, I am a criminal because I use vape. We have criminalized vaping in Australia,” says Fiona Patten, a member of the Victorian Parliament.

“Our Australian politicians and health departments all consistently refuse to look at any evidence around nicotine products that don’t require flame…We would talk to Monsanto about how to create more sustainable agriculture. We would speak to the oil industry about how to move to renewables, but we will not speak or listen to our tobacco industry about how to move to safer forms of nicotine delivery systems. This is ridiculous and should be criminal. I should not be the criminal. It is the ones that are preventing us from trying safer models of access to nicotine that should be the criminals,” says Patten.

“Hundreds of thousands of people vaporize in Australia, yet every single

one of them is breaking the law. In some jurisdictions, if you are to be prosecuted and convicted of that, you would be looking at tens of thousands of dollars in fine and even up to six months in jail,” she says.

The GFN drew consumers and consumer advocates; policy analysts; public health experts; parliamentarians and government officials; academicians and researchers; product manufacturers and distributors; and media representatives. The forum revolved around the theme “It’s time to talk about nicotine.”

It focused on the role of safer nicotine products that help people switch from smoking.

Prof. Gerry Stimson of the London School of Hygiene and Tropical Medicine and the program director of the 6th Global Forum on Nicotine says cigarette smoking is the most dangerous and harmful way of consuming nicotine as the combustion process releases highly dangerous toxins. “The cigarette is a very dirty nicotine delivery system,” he says.

Stimson says there are safer nicotine products than cigarettes that can deliver the same pleasure. The Global State of Tobacco Harm Re-

duction Report 2018 states that the arrival of electronic cigarettes (vape) and heat-not-burn devices, as well as the renewed interest in Swedish snus have disrupted the tobacco industry.

“We are moving away from the world of combustion. From internal combustion engines and cigarette combustion, we are moving to new ways of delivering energy and delivering pleasure,” Stimson says in a news briefing at the start of the three-day conference that aims to change people’s perception of nicotine. Stimson says e-cigarettes, heat-not-burn tobacco products, Swedish snus, oral tobaccos and other noncombustible tobacco products are much safer because they do not require combustion. He says it is the tar and gases from smoking and not nicotine that contains dangerous chemicals.

“Half of those who smoke will die prematurely from smoking-related diseases. This means that about 6 million people die from smokingrelated diseases every year. We have more people dying from smoking cigarettes than dying from malaria, HIV and tuberculosis combined,” says Stimson.