Businessmirror July 19, 2019

LACKLUSTER GLOBAL TRADE TO PULL DOWN PHL GROWTH TO 6.2%–ADB

By Cai U. Ordinario

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ACKLUSTER global trade will likely pull down the country’s economic growth this year to 6.2 percent, according to the Asian Development Bank (ADB).

In its Asian Development Outlook Supplement (ADOS), ADB revised downward its forecast for the Philippines’s 2019 full-year GDP and inflation rates.

GDP growth forecast this year was cut from 6.4 percent, while inflation is expected to further

slow to 3 percent from the initial forecast of 3.8 percent.

“Growth in exports of goods and services also slowed as a result of lackluster global trade and economic activity, and the downturn in the electronics cycle. These effects were partly offset by higher household consumption and private investment,” ADB said.

National Economic and Development Authority (Neda) Undersecretary for Policy and Planning Rosemarie G. Edillon told BusinessMirror that the lower forecast of ADB took external risks into consideration.

While conceding there are external risks, Edillon said these have already been considered in the government’s forecasts. She maintained that growth will still be within the 6 to 7 percent target.

“They considered the external environment. It’s really very challenging. The external environment is very challenging. But for us this has already been considered,” Edillon said. ADB said, however, that its GDP growth and inflation forecast for 2020 has remained unchanged at 6.4 percent and 3.5 percent, respectively.

See “ADB,” A2

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Friday, July 19, 2019 Vol. 14 No. 282

DBCC slashes inflation, exports outlook for ’19 T

By Bernadette D. Nicolas

@BNicolasBM

HE easing of commodity prices, especially rice due to the implementation of the rice trade liberalization law in March, has prompted the interagency Development Budget Coordination Committee (DBCC) to revise downward its inflation forecast for the year.

The DBCC on Thursday announced the revisions it made in the country’s macroeconomic assumptions following its 176th meeting. Officials told reporters in a news briefing that the 2019 inflation forecast has been adjusted

to a range of 2.7 percent to 3.5 percent, from the previous 3 percent to 4 percent.

“The inflation rate assumption for 2019 is revised downward to the range of 2.7 percent to 3.5 percent due to the government’s

decisive steps to stabilize the general price level,” Department of Budget and Management OIC Janet B. Abuel said.

“These [steps] include the full implementation of the presidential directives issued last year

to increase food supply and the passage of the Rice Liberalization Act, which opened up the rice sector and helped bring rice prices down,” Abuel added.

The DBCC, however, retained its inflation assumption of 2 percent to 4 percent for 2020 to 2022.

The DBCC also adjusted its foreign-exchange rate assumption for 2019 to P51-P53 against the United States dollar, from the previous P52 to P55, as it expects the peso to appreciate with the easing of inflationary pressures and positive market sentiment due to the credit-rating upgrade from Standard and Poor’s.

For 2020 to 2022, the forex assumption was calibrated to P51 to P55 from the earlier forecast of P52 to P55.

See “DBCC,” A2

@alyasjah

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RIVATE-SECTOR leaders are asking President Duterte to follow through on his directive to liberalize key economic sectors, such as public services and retail trade, in his State of the Nation Address (Sona) on Monday.

Business leaders polled by the BusinessMirror said they are hoping the President will instruct his Cabinet members and request lawmakers in his Sona to carry out measures that will ease, if not lift, restrictions on foreign participation. They also want Duterte to side with the business sector in its tug of war on contractualization with labor groups.

Florian Gottein, executive director of the European Chamber of Commerce of the Philippines (ECCP), said European firms are

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banking on the President to push for the liberalization of public services and retail trade, among others, as laid out in Memorandum Order (MO) 16.

“ECCP looks forward to the follow-through of the President’s Memorandum Order 16 of 2017.

The said MO seeks to lift or ease restrictions on foreign participation in areas such as public services, retail trade and construction of locally funded public works,” Gottein said.

“Such reform will encourage further foreign investments and, consequently, spur economic growth and increase jobs,” he added.

In 2017 Duterte issued MO 16 directing the National Economic and Development Authority Board to take steps to relax or eliminate foreign equity caps on eight investment areas.

See “SOT bill,” A2

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‘CUT POWER COST BEFORE TWEAKING FISCAL PERKS’

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S long as the Philippines has the highest power and logistics cost in the region, the government should not tinker with the current menu of tax incentives granted to investors, economic zone firms said on Thursday.

In a news briefing, Korean Chamber of Commerce Philippines President Ho-ik Lee said the government should maintain the status quo in the country’s incentives regime. Tax perks, he argued, attract investments and make locators stay here in spite of high operational cost.

“Considering the high operational and logistics cost, this is not the right time to change the rules,” Lee said.

He asserted that the government should only introduce changes to incentives once it is able to bring down electricity and logistics costs. For one, power rates in the Philippines are higher by as much as P7 per kilowatt-hour compared

Duterte told: Ease foreign equity limit, junk SOT bill

By Elijah Felice E. Rosales

2018 EJAP JOURNALISM AWARDS

to manufacturing rivals Thailand, Indonesia and Vietnam.

Further, the Philippines has the highest logistics cost among four Southeast Asian economies, according to a study by the Department of Trade and Industry and the World Bank, titled “An Assessment of Logistics Services Performance of Manufacturing Firms in the Philippines.”

The study reported firms operating in the country spend 27.16 percent of their sales on logistics services. Southeast Asian competitors spend much less: businesses in Thailand spend 11.11 percent of their sales on logistics, 16.3 percent in Vietnam and 21.4 percent in Indonesia.

A s suc h, Sout h Korea n investors will hold off any planned investments in the Philippines until such time the government makes clear its incentives policy, Lee added.

See “Power costs,” A2

DOST pitches PHL resort to science diplomacy

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OFFICE buildings cut a commanding image at the Makati business district in this file photo taken from a helicopter last January 2019. The Asian Development Bank on Thursday trimmed its economic growth forecast for the Philippines this year. The Manila-based ADB said it now expects the country’s gross domestic product to grow by 6.2 percent, lower than its previous forecast of 6.4 percent. Story at top of page, “Lackluster global trade to pull down PHL growth to 6.2%–ADB.” NONIE REYES

HE Philippines can resort to “Science Diplomacy” in order to meet its commitments in meeting the Sustainable Development Goals (SDGs), according to the Department of Science and Technology (DOST).

Science Secretary Fortunato de la Peña told BusinessMirror that forging ties is needed mainly because of the common development challenges that countries face.

De la Peña said countries like the Philippines can also benefit fromthese partnerships by tapping into the expertise of various countries.

See “DOST,” A2

US 51.0090 n JAPAN 0.4725 n UK 63.4246 n HK 6.5286 n CHINA 7.4214 n SINGAPORE 37.4846 n AUSTRALIA 35.7522 n EU 57.2576 n SAUDI ARABIA 13.6013

Source: BSP (18 July 2019 )

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A2 Friday, July 19, 2019

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PET junks Leni’s bid to dismiss Marcos case

By Joel R. San Juan

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@jrsanjuan1573

HE Supreme Court, sitting as the Presidential Electoral Tribunal (PET), has denied the urgent motion filed

by Vice President Maria Leonor “Leni” Robredo seeking the immediate dismissal of the election protest filed by former Senator Ferdinand “Bongbong” Marcos. She claimed that her victory has been confirmed during the proceedings.

In a resolution dated July 2 but released only on Thursday, the tribunal held that it has yet to complete the proceedings on Marcos’s election protest; thus, Robredo’s claim is “premature” and “speculative.”

In her urgent motion, Robredo, through counsel Romulo Macalintal, said there is a need for PET to resolve all the pending incidents, as she claimed her lead over Marcos even increased by more than 15, 000 votes after the revision,

recount and re-appreciation of the ballots in the three pilot provinces of Iloilo, Negros Oriental and Camarines Sur. Marcos earlier said he can prove that irregularities marred the conduct of the 2016 elections in these places.

The tribunal said its final tally of votes after recount and appreciation has yet to be completed and release.

“The figures submitted by protestee [Robredo] are merely speculative. In arriving at the figures, protestee presumes that all her claims will be admitted by the tribunal,” the PET said.

“This premise is fundamentally flawed as the tribunal is still in the process of appreciation of the revised ballots and ruling on the respective objections and claims made by the parties thereon," it added.

After the PET finishes its recount

in the pilot provinces, it will decide whether to proceed with the vote revision on a total of 132,446 precincts in 39,221 clustered precincts covering 27 provinces and cities identified in Marcos’s election protest.

In the same resolution, the tribunal deferred decision on Marcos’ request for a technical examination of election results in Lanao del Sur, Maguindanao and Basilan, citing the Commission on Elections’s discovery of “massive fraud” in these areas.

For now, the tribunal has ordered the poll body to explain the issues raised by Marcos’s camp, which also include missing or nonchronological order of ballot images in select precincts in Camarines Sur. In his request filed last March, Marcos relied on the findings of the Voters’ Identification Division of the Comelec that the 2016 na-

DBCC slashes inflation, exports outlook for ’19 Continued from A1

Effects of trade war

DUE to trade tensions between the US and China, the DBCC slashed the merchandise exports growth assumption to 2 percent this year, from the previous 6 percent. It maintained its forecast of 6 percent for 2020 to 2022.

The DBCC’s 2019 merchandise imports growth projection was also lowered to 7 percent, from 9 percent. It retained its previous forecast of an 8-percent hike for the country’s imports bill for 2020 to 2022.

As for services exports, the DBCC adjusted downward its growth assumption to 9 percent in 2019 to 2022, from 10 percent for this year and 11 percent for 2020 to 2022.

The forecast for services imports growth were maintained at 3 percent in 2019, 4 percent in 2020, and 5 percent in 2021 and 2022.

Despite the recent hikes in global oil prices, the DBCC retained its forecast for Dubai crude oil at $60 to $75 per barrel for 2019 to 2022.

The DBCC is also unfazed by the global economic headwinds as it retained its GDP

SOT bill. . .

Continued from A1

These sectors are private recruitment; practice of particular professions; contracts for the construction and repair of locally funded public works; and public services.

They also include the culture, production, milling, processing and trading of rice and corn; teaching at higher education levels; retail trade; and domestic market enterprises.

As such, government economists were tasked to coordinate with lawmakers in the legislation of bills liberalizing the eight investment areas. The Chief Executive argued that opening up key economic sectors to foreign players would raise the country’s level of competitiveness.

American Chamber of Commerce of the Philippines senior advisor John D. Forbes is also expecting the President to announce in his Sona the administration’s economic strategy for its second and final half in power.

“I believe [foreign chambers] would welcome a section that announces plans to make the Philippines more attractive to foreign investors. We live in a period of unprecedented inflows of foreign investments in Southeast Asia, and governments in Indonesia and Vietnam are making reforms in fiscal, labor and infrastructure policies and programs to make their economies very competitive,”Forbes said.

“We hope the second half of this administration can [implement] policies to catch up with neighbors in the areas of exports, investments and job creation,” he added.

Last year the Philippines received $9.8

ADB. . .

Continued from A1

The Manila-based multilateral development bank said maintaining the GDP growth forecast for 2020 at 6.4 percent was based on expectations that the government’s infrastructure projects will boost growth, particularly in the second half of the year.

ADB’s inflation forecast for 2020 could reach 3.5 percent on the back of

growth estimate of 6 percent to 7 percent for this year. The increase in GDP is still expected to hit 6.5 percent to 7.5 percent in 2020, and 7 percent to 8 percent in 2021 and 2022.

Fiscal program

IN terms of the government’s medium-term fiscal program, revenue collections are still expected to reach P3.15 trillion in 2019, equivalent to 16.4 percent of GDP. Disbursements are projected to hit P3.77 trillion in 2019, equivalent to 19.6 percent of GDP. For 2020, revenues are also estimated to rise to P3.54 trillion or 16.7 percent of GDP, while disbursements are programmed at P4.21 trillion or 19.9 percent of GDP. By 2022, revenue and disbursements are seen rising to P4.42 trillion (17.2 percent of GDP) and P5.24 trillion (P20.4 percent of GDP), respectively.

“The comprehensive tax-reform program can help ensure a reliable revenue base and, more important, enhance the modernization of our economy. Completing the passage of the remaining tranches of the tax reform will ensure a steady revenue flow and equitable

billion in foreign direct investment inflows, according to Central Bank data. This was lower than those directed to Southeast Asian competitors Singapore with $81.85 billion, Indonesia with $20.17 billion and Thailand with $12.46 billion.

Philippine Chamber of Commerce and Industry President Maria Alegria Sibal-Limjoco said Duterte should once and for all turn down in his Sona the lobby efforts to sign the security of tenure (SOT) bill and the shift to federalism. “[The] economy is doing well, business confidence is high and investors are coming in. These issues, federalism and the SOT bill, may set us back again,” Limjoco said.

In a letter dated July 1, local and foreign business groups asked the President to veto the SOT bill, which they claim is redundant given the issuance of Executive Order (EO) 51 and DepartmentOrder(DO)174ofthelabordepartment.

They said EO 51 and DO 174 already prohibited the end-of-contract scheme, popularly known as Endo; therefore, the SOT bill is “superfluous.” Endo is the practice of hiring and terminating workers after every five months to circumvent their regularization.

Last year the government made a push to shift to a federal system, but could only go as far as a draft constitution due to opposition from the business sector and warning from the economic team of its costly impact on the economy.

The cost of federalizing the Philippines was estimated at a range of P72 billion to P130 billion, according to government computations.

Fiscal deficit could hit 6.7 percent of GDP, way beyond the 3-percent target of economic managers—a limit they said is also observed

by European Union member-states. expectations that global commodity prices will increase.

“Public investment is expected to rebound in the second half of 2019 following budget approval in April and to pick up next year as more infrastructure projects come onstream.

Slowing inflation, low unemployment and steady remittances will continue to support household consumption,” ADB said. “Rice prices have declined on improved supply since the lifting of quantitative restrictions on rice imports in February 2019.”

sharing of contributions for the government’s social and infrastructure programs while securing fiscal stability long into the future,” Abuel said.

Given the approved revenue and disbursement program, the deficit target for 2019 was maintained at 3.2 percent of GDP. The figure, however, is higher than the previous assumption of 3 percent of GDP for 2020 to 2022.

The increase in the budget deficit target to 3.2 percent from 2020 to 2022 prompted the government to raise its borrowing program for next year to P1.4 trillion, 18.4 percent higher than the P1.18 trillion set for this year.

“Going into 2020, it would be about P1.4 trillion, recognizing again that we are moving to a deficit of 3.2 percent of GDP for 2020. The funding mix is 75 percent local and 25 percent coming from usual borrowing program from multilaterals, bilaterals and commercial,”said National Treasurer Rosalia V. de Leon.“[So it’s] 41.4-percent debt-to-GDP [ratio] by 2019 and that would be flat for 2020.”

For this year, de Leon said the government did not revise its borrowing program of P1.8

Power costs. . .

Continued from A1

On the sidelines, he disclosed that one South Korean electronics maker was about to invest over $1 billion of capital in the Philippines.

However, the firm chose to locate in Tianjin, a port city in China.

“From what I know, there is a big company that would like to bring in a big investment of more than $1 billion here. They [firm’s executives] already decided only this year to go to Tianjin [in China]. The firm is involved in electronics,” Lee said.

At the peak of the debate on whether to rationalize incentives last year, South Korean investments declined 44.21 percent to P1.88 billion, from P3.37 billion, according to records of the Philippine Statistics Authority (PSA). Lee said about 400 South Korean firms operate in economic zones at present.

Locators’ statement

WITH the 18th Congress set to open on Monday, economic zone locators called on legislators to pass a tax-reform bill that will raise government revenues and strengthen the country’s fiscal position without having to overhaul tax perks.

Hot money. . .

Continued from A12

ING Bank Manila economist Nicholas Mapa said the slump in the country’s FPI performance largely emanated from the decisions made by anxious investors on the US-China trade war.

“May and March saw the worst of the sell-off with episodes or flareups in the tensions related to the US-China trade war spooking investors and prodding them to dump emerging market bonds and equities. For the month of May alone, equities saw a $508-million net outflow in the equity market as Trump and Xi traded barbs and actual tariffs, but tensions have ebbed recently after the G-20 meeting,” Mapa said.

While June’s FPI numbers are still in the red, the net outflow is smaller than the previous month. In particular, the

trillion even if the pace of its spending slowed due to the budget impasse in the first four months of the year.

“For 2019, the gross borrowings will be retained at P1.18 trillion recognizing that we will continue with the 3.2 percent deficit. The mix would be 73 percent from the onshore market and 27 percent from external funding we are getting through ODAs [official development assistance] and our frequent issues in the international debt market. So we are acquiring a lot of mileage,” she added.

In July 2018, de Leon said total gross borrowings for 2019 of P1.18 trillion, which is higher than the P986 billion programmed for last year, was due to the adjusted deficit ceiling of 3.2 percent.

The government adjusted its deficit ceiling to ensure the continuous implementation of the Duterte administration’s infrastructure buildup program dubbed“Build, Build, Build.”

De Leon also said the 75:25 borrowing mix ratio is “not set in stone,” as the government is taking a cue from market conditions and is looking out for opportunities in terms of issuances favorable to the Philippines.

“We stand ready to engage policy-makers in constructive dialogue that will result in a brighter future for our country. As the 18th Congress is set to convene, we look forward to working with lawmakers and the executive to enact legislation that will allow the country to employ more workers, attract more investments and increase the government’s tax revenue,” locators said in a joint statement.

“To remove or even dilute tax incentives granted to locators now would risk the loss over time of millions of jobs and investments that would otherwise have been committed to the Philippines,” it added.

Under the second tax-reform package, the government seeks to gradually reduce corporate income tax to 20 percent by 2030, from 30 percent at present. In exchange, it will rationalize incentives granted to economic zone firms, including the 5-percent tax on gross income locators pay in lieu of all local and national taxes.

The joint statement was signed by the Philippine Ecozones Association, Semiconductor and Electronics Industries in the Philippines Foundation Inc., Information Technology and Business Process Association of the Philippines, and the Confederation of Wearable Exporters of the Philippines. Elijah Felice E. Rosales BSP said June’s FPI resulted in a net outflow of $35.72 million—an improvement from the $749.84 million in May and the $516.12 million in the previous year.

“Sentiment was largely affected by the ongoing US-China trade war but very recently we’ve seen a stark shift in mood with the Fed primed to cut rates in July.

For the coming months, we could see at least a partial reversal in these outflows with expectations for easy monetary policy and faster Philippine growth in the second half seen to attract inflows rather than prompt outflows,” Mapa said.

Mapa’s views backed the BSP explanation of the FPI improvement in June. In its statement, the country’s central monetary authority said the better FPI numbers in June were on the back of within-target inflation data for May, the resumed trade talks between US and China, and the anticipated interest rate cuts of the US Federal Reserve. Bianca Cuaresma

tional, local and ARMM elections were marked by different forms of election fraud as evidenced in the electoral protest filed by Abdusakur Tan against ARMM Gov. Mujiv Hataman.

A technical examination involves the comparison of signatures and thumbprints of voters in the Voter’s Registration Records (VRRs) as against the Election Day Computerized Voter’s Lists (EDCVLs).

Robredo’s camp opposed the motion, saying it goes against the rules of the PET prohibiting the in-

troduction of additional clustered precincts outside of Camarines Sur, Iloilo and Negros Oriental.

The Court held: “Protestant designated Camarines Sur, Negros Oriental and Iloilo as pilot provinces which…best exemplify the frauds or irregularities alleged in the election protest. As it stands, therefore, it would be premature to conduct a technical examination of voters’ records and election documents from provinces other than those designated as pilot provinces in the protest.”

The figures submitted by protestee [Robredo] are merely speculative.

In arriving at the figures, protestee presumes that all her claims will be admitted by the tribunal.”—PET

POEA to deploy 1st batch of OFW under new deal with Japan

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HE Philippine Overseas Employment Administration (POEA) on Thursday said it could soon deploy the first batch of overseas Filipino workers (OFW) under the new PhilippineJapan Memorandum of Cooperation (MOC).

POEA Administrator Bernard B. Olalia confirmed the agency has completed the implementing rules and regulation (IRR) of the MOC. “We are now just waiting for the verification guidelines from the POLO [Philippine Overseas Labor Office],” Olalia told the BusinessMirror in an SMS. “As soon as this is completed we can start [with the deployment],” he added.

He said they expect to deploy the first batch of OFWs under the MOC within the year.

In anticipation of the increase of OFWs in Japan, Labor Secretary Silvestre H. Bello III said the new POLO in Osaka, Japan, will become operational by September. This will

DOST. . .

Continued from A1

“Although the profiles of countries are different, the problems they face are the same.

If poor countries like us are faced with an employment problem, for example, developed countries also face the same problem,” de la Peña said.

“There are many areas that we can work on together. And of course at our end, we also want to learn about areas that we do not have an expertise on,” he added.

National Economic and Development Authority (Neda) Undersecretary for Policy and Planning Rosemarie G. Edillon said forging partnerships and linkages was the one thing the country was missing in its efforts to meet the Millennium Development Goals (MDGs).

Edillon said at the time the country was working toward the MDGs, there was no “deliberate effort” to partner internationally.

Further, Edillon said, there is more cause to partner because of the need to turn to innovation and technology to meet the SDGs. She said there are goals that cannot be met without using technology which many countries still do not possess or may be patented outside the country.

“I think because it’s an ambitious agenda, then there’s the realization that you need to make use of innovations, you need to make use of technology to make this happen,”Edillon said.

“In the case of the Philippines, the President just signed the Philippine Innovation Act. So we [in Neda] will be coming up with the IRR soon.

We’re hoping to make use of the powers and the resources that are included in that Act to even further the SDGs,” she added.

De la Peña said that the DOST has signed various agreements with countries like South Korea, Israel, Iran, France, United Kingdom and the United States. He said the agreement with the United States was “finally”signed this week after four years of review.

These agreements pertained to cooperation and partnership such as research collaboration,

be in addition to the existing POLO in Tokyo.

DOLE opened in June a new POLO in Berlin, Germany. This November, Bello said the new POLO in Wellington, New Zealand, will open for OFWs there.

The number of OFWs in Japan has started to rebound last year as POEA started deploying OFWs under Japan’s Technical Internship Training Program (TITP).

The POEA, however, warned OFWs against illegal recruiters taking advantage of the reports of new job opportunities in Japan.

It recently flagged a certain Heart English School, a language school in Japan, which has been recruiting OFWs without its authorization.

“The POEA reminds Filipinos seeking jobs in Japan to only transact with licensed recruitment agencies with job orders approved by the administration,” POEA said in a statement. Samuel P. Medenilla sharing of information, exchange of people, sharing of publications, and other similar undertakings.

However, he said that this is not the first time the country signed an agreement with other countries. De la Peña said when he went to Paris, he found that there was an agreement signed in 1978 with France but the agreement was not implemented.

De la Peña added that the same thing happened to China when it sought an agreement with the Philippines. He said the DOST found that there was already an agreement signed.

An agreement was signed but neither side initiated any move to proceed further, he recalled, adding, “I’m not blaming the past leadership, but it depends on the [administration].”

In order to act on recent agreements signed, De la Peña said he will make good on these through regular coordination whether in person or through videoconference.

He added that he has even appointed an assistant secretary for international cooperation. De la Peña said part of the DOST’s efforts is to create a matrix that outlines these cooperation agreements to avoid duplication.

De la Peña said he is also happy that more ambassadors are putting an emphasis on science diplomacy. Such is Philippine Ambassador to Vienna Maria Cleofe R. Natividad, who considered Vienna as the hub of science diplomacy.

Natividad said the presence of organizations such as the European Organization for Nuclear Research or CERN as well as the International Atomic Energy Agency and the Comprehensive NuclearTest-Ban Treaty Organization (CTBTO) make Vienna a natural hub for scientists, including Filipino scientists.

“I’m very happy to report our Department of Foreign Affairs, particularly the embassies posted in different countries, are putting a lot of emphasis on science diplomacy. That’s one thing I can say about the Department of Foreign Affairs,” de la Peña said.

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Govt urged to fast-track approval of student fare discount law’s IRR

By Butch Fernandez @butchfBM

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HE government was prodded on Thursday to fast-track the early implementation of the 20-percent land-sea-air fare discount benefit for students recently signed into law by President Duterte.

“Let us move fast to implement the law,” said Sen. Juan Edgardo Angara, principal author of the Student Fare Discount Act. The senator pressed for the new law’s early publication in newspapers, or the Official Gazette, to pave the way for government agencies concerned to issue the implementing rules.

“Without these two, Republic Act [RA] 11314 can’t be implemented,” Angara pointed out, adding, “Students will have to wait for the implementing rules and regulations, or IRR, but that can’t be promulgated if the law has not been published yet.”

Angara asserted that “the ball is now on the court of the Executive branch. They must step on the gas.”

As provided in Section 12 of RA 11314, the Land Transportation Franchising and Regulatory Board (LTFRB) will issue the IRR for public-utility vehicles such as jeepneys, buses, taxis and the transport network vehicle services such as Grab.

He added that the Civil Aeronautics Board (CAB) is also expected to

issue the separate IRR for airlines, while the Maritime Industry Authority (Marina) will have a separate IRR for passenger ships and all other water vessels. For the rail sector, he said the responsibility falls on the Department of Transportation (DOTr), having jurisdiction over Light Rail Transit, Metro Rail Transit and Philippine National Railways.

“Now that the students are anticipating when the discount can be availed of...the designated agencies need to make sure that the students will not have to wait long,” the law’s author added.

The senator stressed that “of equal importance is the duty of the Office of the President to have RA 11314 officially published because that is the start of the official timer that will launch the implementation phase.”

At the same time, Angara clarified that while President Duterte signed RA 11314 last April 17, 2019, it will only take effect 15 days after its publication in a national newspaper, or in the Official Gazette, after which the concerned agencies are given 90 days to promulgate the IRR. “But the 90 days is just the maximum. It can be issued earlier which, in this case, it should, considering the public interest the law has generated and the public good it will create,” the senator stressed.

Expert warns pangolins may be extinct in next two years

By Jonathan L. Mayuga @jonlmayuga

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N American wildlife law-enforcement expert has warned that pangolins may become extinct sooner than later unless authorities step up their efforts to effectively stop the illegal trade of the critically endangered animal.

George Phocas, formerly of the United States Fish and Wildlife Service (US-FWS), said that Pangolin, arguably now the most illegally traded species in the world is facing extinction, possibly in the next two years because of the massive harvesting of these ant-eating species from the wilderness of Africa and Asia where they are known only to occur.

Interviewed by the BusinessMirror on Wednesday at the sidelines of the Conference on Wildlife Forensics as A Tool to Combat Wildlife Trafficking held in Mandaue City, Cebu, from July 16 to 18, Phocas said recent reports of dead pangolin seized by authorities are cause for alarm.

Phocas has extensive experience working with various law-enforcement agencies in Asia under the USFWS international attache program prior to his retirement. He has also worked on the pangolin case for five years in the Philippines.

He lamented that his first pangolin trafficking case in his career doing undercover sleuthing against wildlife traffickers failed to gain traction back then because of perceived “insignificance.”

Global concern

TODAY, he said there is a global concern for the pangolins and law enforcement must work harder to stop the illegal activities that target this particular species in the wild.

There are only eight known pangolin species in the world—four are in Africa and four in Asia, including the Philippines—the Palawan or Philippine pangolin, scientifically called Manis culionensis, a species endemic to Palawan Island.

Hunted for its meat, scale, internal organs, including testicles, pangolins are believed to be miracle cures to various ailments, with meat as food, and parts used for traditional medicine with China and Vietnam being major buyers. Their perceived health benefits, specially as an aphrodisiac, is reportedly boosting the illegal trade of this species.

Vanishing species

ACCORDING to the Biodiversity Management Bureau of the Department of Environment and Natural Resources, the Palawan pangolin, a scaly anteater that feeds of termites and ants is an elusive animal and little is known about their behavior in the wild.

This shy mammal has a voracious appetite for pesky termites and ants, hence, their extinction could cause an ecological imbalance, possibly an increase in the population of these potentially pesky insects.

The least studied among pangolin species in the world, the Palawan pangolin was just recently declared as distinct from the Sunda pangolin that it was earlier thought to be. It is now the subject of conservation efforts by authorities and wildlife conservation groups based in Palawan, considered as the country’s last ecological frontier, where communities admitted that hunting animals for food, medicine and pet trade along with other forest products is a way life.

New PCG vessel eyed for patrol duty in disputed WPS, Benham

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By Lorenz S. Marasigan

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already improved in Cagayan more than 24 hours after the storm made a landfall in Gattaran.

Overall, the storm has affected at least 391 families in 12 barangays in Northern Luzon and triggered flooding in five barangays in Albay, Oriental Mindoro.

The National Disaster Risk Reduction and Management Council (NDRRMC) said nine roads and three bridges were also affected

@lorenzmarasigan

HE French-made vessel that will patrol contested Philippine waters is expected to be delivered this coming December, according to the Philippine Coast Guard (PCG), as the ship was formally presented to government officials on Wednesday.

Commissioned as the Barko Republika ng Pilipinas (BRP) Gabriela Silang, the offshore patrol vessel is designed to patrol the West Philippine Sea (WPS) and the Benham Rise. It will also serve as an anti-piracy and

anti-terrorism floating asset in the southern part of the country.

The 83.6-meter-long vessel has a maximum speed of 20 knots and can accommodate 64 crew for 22 days. It was built by French company Ocea.

It is expected to arrive in Manila in the first week of December this year, after completing the provisional requirements and the training of 18 PCG personnel as its sailing crew starting September 1 up to the last week of October.

The vessel is equipped with a mission management system (MMS) with dedicated command and control center, which integrates vessel’s sensors such as radars, automatic identification system (AIS), communications and surveillance equipment, and day and night vision camera, among others.

Built with advanced technologies in computer and radio techniques to improve the operational efficiency of users and providing a multiuser system, the vessel’s MMS allows onboard rigid inflatable boats to have

access to any situation picture and improve the control of operations.

It is also capable of situation awareness, target detection, tracking and information, record and replay, information display, and exchange of information with other units.

Likewise, the new vessel is capable of responding to marine environmental pollution such as oil spills using its onboard containerized antipollution equipment. It is also equipped with emergency equipment such as a hyperbaric chamber for treating bends and a survivor room for rescued persons.

The P5.59-billion vessel, ordered in 2014, also has two onboard 9-meter rigid hull inflatable boats that can help the Coast Guard in law enforcement or in visiting other vessels.

‘Fake’ BOC employees nabbed in sting operation

By Rea Cu

@ReaCuBM

T

HE Bureau of Customs has reported that two persons allegedly masquerading as employees of the bureau were apprehended in an entrapment operation.

The suspects are allegedly involved in the “unauthorized sale” of seized items from the BOC. In a news statement issued on Thursday, the BOC said that the suspects were apprehended following a joint operation conducted by the BOC-Customs Intelligence and Investigation Service (BOC-CIIS), BOC-Enforcement and Security Service (ESS) and the Philippine National Police-Criminal Investigation and Detection Group (PNPCIDG), last Tuesday.

The BOC-CIIS and ESS coordinated with Police Lt. Col. Cesar G. Paday-os, chief, CIDG Anti-Transnational Crime Unit regarding the reported irregularities of a certain group of individuals pretending to be employees of the BOC on July 12, 2019.

Based on the initial report of the bureau’s Intelligence Group (IG), the modus of the suspects were to post vehicles on sale on social media at very low prices to “lock-in” the agreement for immediate meet ups with potential buyers.

“The ploy of these individuals is to invite their victims near the office of BOC and show identification cards to convince their victims that they are indeed BOC employees,” the BOC said.

Last July 16, an entrapment operation was then planned by the operatives of PNP-CIDG, BOC-ESS and CIIS, wherein operatives jumped off to an agreed place of the transaction at Gate 1, Port Area, Manila, which resulted in the arrest of the two suspects identified as Primo Baldon and Richard Lagrolia.

The BOC also said that a joint investigation by the bureau with the PNP is being conducted for the institution of appropriate charges against the arrested personalities.

Last May, the BOC reported that two bogus brokers suspected of extorting money from importers and exporters were arrested during a joint entrapment operation of its IG

Falcon leaves two dead in Cagayan Valley WO persons perished in Cagayan while 21 barangays in Luzon and Visayas were flooded due to heavy rains brought by the southwest monsoon and Tropical Storm Falcon.

Antonio Macalan, Cagayan provincial disaster chief, said the two fatalities from the towns of Lallo and Gattaran, drowned while Falcon was directly affecting the province.

Macalan said the weather has

Editor: Vittorio V. Vitug • Friday, July 19, 2019 A3

in the Cordillera Administrative Region and in Region 1.

The storm, which is expected to leave the country on Thursday evening, also caused landslides in Libon, Albay and in San Gabriel, La Union.

Meanwhile, the NDRRMC said that at least 21 other barangays were also floodedinLuzon,andintheVisayasdue to monsoon rains over the past days.

The barangays are located in Iloilo City, Aklan and Albay. Rene Acosta

and the National Bureau of Investigation (NBI) operatives.

The BOC received complaints on the alleged extortion activities of two persons who were demanding P500,000 in exchange for the release of shipments consigned to Shacka Guns and Ammo which was held at the Ninoy Aquino Interna-

tional Airport.

The complainants, together w it h undercover aut hor it ies, met with the suspects where the two alleged extortionists were arrested after they accepted the marked money.

Investigation furthered revealed that the two suspects were not Cus-

toms officers but were bogus brokers who allegedly extort money from stakeholders of the BOC. Last April, the BOC issued an administrative order covering the exercise of its jurisdiction and police authority, in a bid to boost its anti-smuggling efforts and border security mandate.

Economy

A4 Friday, July 19, 2019 • Editor: Vittorio V. Vitug

BusinessMirror

www.businessmirror.com.ph

POGOs drive office demand in Metro Manila in H1 2019

O

By Roderick L. Abad

@rodrik_28

FFSHORE gaming now commands the office market as developers are more receptive to them given their strong demand for areas to locate in, according to a property consulting company.

“A shift in landlord strategy now welcoming POGOs [Philippine Offshore Gaming Operators] as office tenants has given rise to a stronger offshore gaming industry,” said Monique Pronove, president and chief executive officer of Pronove Tai International Property Consultants.

This is contrary to the scenario a couple of years ago when the offshore gaming operators were in difficult situation because of the lack of a clear

regulatory environment that virtually turned them into a “pariah” in the business community.

“This year has significantly been different. More and more landlords and local government units [LGUs] have warmed up to having them as tenants,” she noted.

“Proof of this is the increase in leasing transactions accounted for by the POGOs during the first half of 2019,” she added.

Citing their Metro Manila Office Market Overview H1 2019: The Rise of POGO Market Report, Pronove bared that 45 percent, or 315,000 square meters, of the total of 703,000 sq m of office space transacted were taken up

by POGOs. Traditional office and information technology-business process management (IT-BPM), she pointed out, lagged behind POGOs at 28 percent and 26 percent, respectively.

There are now seven cities in Metro Manila, with the addition of four new LGUs giving letters of no objection (LONOs) to POGOs. These are Mandaluyong, Las Piñas, Muntinlupa and, just recently, Quezon City by way of special use permits (SUPs).

The three accommodating LGUs that initially issued in 2016 such document required by the Philippine Amusement and Gaming Corp. for POGOs to locate in their areas were Makati, Pasay and Parañaque.

While Taguig City is still not is-

suing LONOs to POGOs, it hosts the biggest number of IT-BPM locators in the country and remains to be their preferred district.

Overall office leasing transactions increased by 36 percent to 703,000 sq m in the first half of this year, from 481,000 sq m during the same period in 2018.

POGO had the highest growth in demand over the year, at 216 percent, while IT-BPM posted the first negative growth rate at -8 percent year-on-year, from 204,000 sq m in 2018 to 187,000 sq m in 2019.

In general, the Metro Manila office market had a sterling performance in the first six months of the year with the office demand being 57 percent, or +255,000 sq m, higher than the supply on the back of a strong leasing requirement of POGOs. The demand for office space from January to June of this year at 703,000 sq m already represents 85 percent of the average in the last five years. From 2014 to 2018, actual demand stood at 830,000 sq m.

Duterte signs law granting Gencos told: Join power perks to business start-ups supply bidding via CSP

By Bernadette D. Nicolas @BNicolasBM

S

TART-UPS and start-up enablers can now avail themselves of incentives and other benefits from the government after President Duterte signed into law the Innovative Start-up Act. The government is also mandated to remove constraints to encourage more innovative business to operate in the country, according to the copy of Republic Act (RA) 11337 released on Thursday.

Under the law signed by the President last April 26, a start-up refers to any person or registered entity in the Philippines which aims to develop an innovative product, or business model, while a start-up enabler is defined as any person or registered entity in the country that provides goods and services or capital identified to be crucial in operation of startups by the Department of Trade and Industry (DTI) together with other agencies.

The Departments of Science and Technology (DOST), Information and Communications Technology (DICT) and Trade and Industry shall also be the lead agencies for a Philippine Start-up Development Program, which shall also include the benefits and incentives for start-up and start-up enablers.

The DTI is also tasked to initiate and coordinate with national and local government agencies involved with the registration, licensing, certification, including those who levy fees and charges for services subsidized by host agencies and other regulatory process to be undertaken by start-ups and start-up enablers.

Start-ups and/or start-up enablers who have passed the selection and application process of host agencies will receive the following:

Full or partial subsidies for business registration and cost in the application and

processing of permits and certificates; Endorsement of the host agency for expedited prioritized processing of applications with other government agency;

Full or partial subsidy for the use of facilities, office space, equipment and or services provided by government or private enterprises or institutions.

Full or partial subsidy in the use of repurposed government spaces and facilities of the host agency as the registered business address; and grants-in-aid for research, development, training and expansion projects Moreover, the law also provided for the creation of a Start-up Grant Fund (SGF) under three agencies and a separate Start-up Venture Fund (SVF) under the DTI to be administered with the National Development Company.

The initial and supplemental grant-inaid for start-up and start-up enablers will be sourced from the respective SGFs of DOST, DICT and DTI. On the other hand, the SVF shall be used to match investments by select investors in start-ups based in the Philippines.

For its part, the Philippine Economic Zone Authority is also ordered to pursue and promote the creation of Philippine Startup Ecozones or Special Economic Zones to spur the growth of start-ups.

The Department of Foreign Affairs is also mandated to create start-up visas, which shall have an initial five-year validity and may be renewed or extended with a three-year validity.

Within 60 days from effectivity of the Act, implementing rules and regulations shall be promulgated by DOST, DICT and DTI with relevant government agencies.

The Act shall take effect within 15 days from its complete publication in the Official Gazette and in at least one newspaper of general circulation.

By Lenie Lectura

@llectura

C

ONSUMER group Laban Konsyumer Inc. (LKI) strongly urged all power-generation companies (genco) to participate in the bidding of power supply requirements via competitive selection process (CSP) of distribution utilities (DUs) to assure the country of adequate and affordable power supply.

“There should be the participation of all power suppliers. CSP allows for the bidding of all power generators. The more power plants, the better...it is not the time to block power generators from bidding. We must encourage all interested parties to participate in CSP and bidding to save our country from a power situation crisis,” said LKI President Victor Dimagiba.

At the same time, LKI called on all DUs and electric cooperatives to immediately conduct and implement a CSP in procuring their power supply requirements following the recent Supreme Court decision that required all power supply agreements (PSAs) forged after June 30, 2015, to undergo CSP. The CSP requires DUs to hold competitive bidding for their supply requirements as against securing power deals via bilateral contracts. This is meant to ensure transparency and fair competition.

LKI agreed with the Department of Energy (DOE) in saying that all affected power industry players must catch up and push under the CSP those stalled supply agreements in a bid so as to ensure adequate power supply at the least cost to meet the growing electricity demand of the country.

“It is imperative that we add to our current power supply situation.

Unfortunately, we have had more red and yellow alerts this year than in the past five years. We are already more than three years too late according to our energy timetable.

“It is important that CSP is undertaken and implemented immediately, and invitations to all bidders begin. The CSP process will ensure that the much-needed power supply will be provided at the least cost possible, which will, in turn, benefit consumers.

CSP itself was designed to ensure the best bids and the least costs to the consumers. We can no longer afford any further delay. We need to act now with extreme urgency to make up for the lost time,” said LKI. The Manila Electric Co. (Meralco) has already published three bid invites for its power requirements totaling 2,900 megawatts (MW).

Over 90 PSAs, with about 5,000 MW capacity, were affected by the SC decision. Of which, 70 percent of the affected PSAs are from Meralco.

Lawmaker lauds signing of EODB law’s implementing rules

By Jovee Marie N. Dela Cruz @joveemarie

W

ITH the recent signing of the Ease of Doing Business (EODB) Act’s implementing rules and regulations (IRR), a senior lawmaker said the Philippines can now further improve its ranking in the World Bank’s Doing Business Index for 2020.

Citing the World Bank’s 2019 Doing Business Report, Camarines Sur Rep. Luis Raymund Villafuerte said the Philippines was able to implement reforms to make it easier to start a business, obtain construction permits and protect minority investors.

“The full implementation of the EODB law will go a long way in improving the Philippines’s ranking

in the World Bank’s Doing Business ranking, which fell from Rank 113 in 2018 to Rank 124 in 2019,” the lawmaker said.

“With the EODB law’s IRR and the Anti-Red Tape Advisory Council both in place now, plus the recent appointment of the Anti-Red Tape Authority [Arta] Director General Jeremiah Belgica, I hope the government can improve dramatically the Philippines’s ranking in the World Bank’s Doing Business index for 2020,” Villafuerte added.

Villafuerte, one of the authors of the measure, said the Department of Trade and Industry (DTI) and Arta could now hit the ground running and carry out right away the law’s provisions meant to attract more investors.

Despite the delays in the issuance

of the IRR, Villafuerte said, the swift and full implementation of the EODB law will increase foreign direct investment inflows, which will supercharge the economy and create more jobs—in support of President Duterte’s goal of high and inclusive growth over the medium term.

“They were supposed to wrap up work on the IRR in October 2018, yet, I have said then that in being remiss in their duty, the DTI and Arta have set back efforts by President Duterte to cut red tape, reduce graft and improve the Philippines’s competitiveness in attracting investors,” Villafuerte said.

“Red tape has not only stymied our competitiveness; it has also been an unnecessary burden on our citizens not only financially, but also in terms of wasted time and energy spent on

gathering and submitting numerous requirements from one agency to another,” Villafuerte said.

The lawmaker said the implementation of the law is also expected to address corruption in the government as one of its key features is the “zero-contact” policy, which is meant to curb corruption in the bureaucracy.

“Red tape also breeds corruption, which is why the speedy and full implementation of the EODB law would all the more entice investors to relocate here, as this further reduces the prescribed processing time for business and nonbusiness-related transactions in all government offices and agencies, including LGUs [local government units] and GOCCs [governmentowned and -controlled corporations],” he added.

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The World BusinessMirror

Friday, July 19, 2019

A5

Trump and Xi struggle to find path forward in trade war talks S LOW progress on key initial demands from Presidents Donald J. Trump and Xi Jinping is raising doubts about whether the US and China will actually return to the negotiating table to overcome their much deeper differences.

Trump complained again this week that China wasn’t buying the large volumes of US agricultural goods that he claims Xi promised to purchase. Meanwhile, there’s been no improvement in how the US treats telecommunications giant Huawei Technologies Co., a key demand of China.

With the conflict dragging on, reaching a comprehensive trade deal as Trump gears up for relection next year increasingly seems like a remote possibility, according to people familiar with the matter, who spoke on the condition of anonymity. In addition to dif-

fering interpretations as to what was agreed when the two leaders met in Osaka last month, the countries have to decide whether to resume talks based on the draft agreement that collapsed in May, or to start again.

There are clear differences in how the two sides talk about what was agreed at the Group of 20 summit in late June. Trump boasted at a press conference after his meeting with Xi that the Chinese had agreed to buy “tremendous” amounts of agricultural goods. But a member of the Chinese delegation told

the US team that Beijing won’t make concessions on agriculture regardless of what Trump announced publicly, a person familiar with the exchange said.

According to that person, Beijing wants to see the Trump administration issue special licenses for US suppliers to resume shipments to Huawei before buying more crops.

Conflicting views

HOWEVER, people familiar with Chinese side of the talks say that China will not buy large amounts until it sees concrete progress in the talks. Since the May breakdown in talks, Chinese officials have repeatedly insisted that any deal must meet their three conditions of removing all tariffs, realistic purchase targets, and a proper balance and equality for the two sides.

They have also demanded a reprieve for Huawei and other Chinese companies targeted by US sanctions. W hen asked last week about Commerce Secretary Wilbur Ross’s statement that

Hu awei was st i l l bl ac k l isted but US companies could seek licenses to sell to it, the Chinese commerce ministr y pushed the US to alter their position.

“We noticed the US comments and we also noticed that Huawei and other Chinese entities are still on the US ‘entity list’ for export control,” ministry spokesman Gao Feng told reporters in Beijing. “We urge the US to truly implement its commitments and stop the wrongful use of state power to suppress Chinese companies as soon as possible.”

Treasur y Secretar y Steven Mnuc h i n ea rl ier t h is mont h made calls to multiple American chief executives urging them to seek the exemptions for sales to Huawei, according to two people briefed on his calls. Mnuchin told the executives their applications needed to be filed so that the Commerce Department could approve them.

The Wall Street Journal first reported on Mnuchin’s outreach, and the Treasury Department issued a strong denial of the account.

“As some in the US administration are looking to 2020 as their guide for how and whether to proceed with an agreement with China, the Chinese leadership will be very cautious—fearing that any agreement reached may not last beyond the Twitter news cycle,” said James Green, who until recently was the senior official from the US Trade Representative in Beijing and is now a senior adviser at McLarty Associates. “So it’s a political decision in China, as well.”

Beyond agriculture and Huawei, the sides remain at odds over significant issues such as Washington’s demands for structural reforms to China’s economy and Beijing’s call for the US to remove all existing punitive tariffs on imports from China.

Trump’s trade team is now debating whether it would serve his re-election bid well to reach a trade deal with Beijing that he then has to sell domestically in an environment that’s increasingly hostile toward China.

Trump this week reiterated

that he could impose additional tariffs on Chinese imports if he wants, a threat Beijing said would only prolong the trade war.

US Trade Representative Robert Lighthizer and Mnuchin are due to talk over the phone with their Chinese counterparts this week. If everything goes well, the two Cabinet officials will travel to Beijing for in-person negotiations. Still, it’s not clear if Beijing will agree to resume talks based on an earlier draft of the agreement that China’s leadership has since rejected.

Trump administration officials feel emboldened by recent weak economic numbers coming out of China and have consistently claimed that their tariffs are hurting China but haven’t had any impact on American consumers. Data from China this week showed the economy slowed to the weakest pace in at least 27 years. Even so, the economy still expanded 6.2 percent from a year ago, with retail sales and industrial output also rebounding in June. Bloomberg News

BusinessMirror

A6 Friday, July 19, 2019

S. No. 1558 H. No. 8794

of the employee.

Republic of the Philippines Congress of the Philippines Metro Manila

SEC. 7. Gender-Based Sexual Harassment in Streets and Pnblic Spaces Committed by Minors. - In case the offense is committed by a minor, the Department of Social Welfare and Development (DSWD) shall take necessary disciplinary measures as provided for under Republic Act No. 9344, otherwise known as the "Juvenile Justice and Welfare Act of 2006".

Seventeenth Congress Third Regular Session

SEC. 8. Duties of Local Government Units (LGUs). - local government units (LGUs) shall bear primary responsibility in enforcing the provisions under Article I of this Act. LGUs shall have the following duties:

Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand eighteen.

(a) Pass an ordinance which shall localize the applicability of this Act within sixty (60) days of its effectivity;

[Republic Act. No. 11313] AN ACT DEFINING GENDER-BASED SEXUAL HARASSMENT IN STREETS, PUBLIC SPACES, ONLINE, WORKPLACES, AND EDUCATIONAL OR TRAINING INSTITUTIONS, PROVIDING PROTECTIVE MEASURES AND PRESCRIBING PENALTIES THEREFOR Be it enacted by the Senate and House of Representatives of the Philippines it Congress assembled:

SECTION 1. Short Title. - This Act shall be known as the "Safe Spaces Act".

SEC. 2. Declaration of Policies. - It is the policy of the State to value the dignity of every human person and guarantee full respect for human rights. It is likewise the policy of the State to recognize the role of women in nation-building and ensure the fundamental equality before the law of women and men. The State also recognizes that both men and women must have equality, security and safety not only in private, but also on the streets, public spaces. online, workplaces and educational and training institutions.

SEC. 3. Definition of Terms. - As used in this Act:

(a) Catcalling refers to unwanted remarks directed towards a person, commonly done in the form of wolf-whistling and misogynistic, transphobic, homophobic, and sexist slurs; (b) Employee refers to a person, who in exchange for remuneration, agrees to perform specified services for another person, whether natural or juridical, and whether private or public, who exercises fundamental control over the work, regardless of the term or duration of agreement: Provided, That for the purposes of this law, a person who is detailed to an entity under a subcontracting or secondment agreement shall be considered an employee; (c) Employer refers to a person who exercises control ovex an employee: Provided, That for the purpose of this Act, the status or conditions of the latter's employment or engagement shall be disregarded; (d) Gender refers to a set of socially ascribed characteristics, norms, roles, attitudes, values and expectations identifying the social behavior of men and women, and the relations between them; (e) Gender-based online sexual harassment refers to an online conduct trageted at a particular person that causes or likely to cause another mental, emotional or psychological distress, and fear of personal safety, sexual harassment acts including unwanted sexual remarks and comments, threats, uploading or sharing of one's photos without consent, video and audio recordings, cyberstalking and online identity theft; (f) Gender identity and/or expression refers to the personal sense of identity as characterized, among others, by manner of clothing, inclinations, and behavior in relation to masculine or feminine conventions. A person may have a male or female identity with physiological characteristics of the opposite sex, in which case this person is considered transgender: (g) Public spaces refer to streets and alleys, public parks, schools, buildings, malls, bars, restaurants, transportation terminals. public markets. spaces used as evacuation centers, government offices, public utility vehicles as well as private vehicles covered by app-based transport network services and other recreational spaces such as, but not limited to, cinema halls, theaters and spas; and (h) Stalking refers to conduct directed at a person involving the repeated visual or physical proximity, non-consensual communication, or a combination thereof that cause or will likely cause a person to fear for one's own safety or the safety of others, or to suffer emotional distress.

ARTICLE I GENDER-BASED STREETS AND PUBLIC SPACES SEXUAL HARASSMENT SEC. 4. Gender-Based Streets and Public Spaces Sexual Harassment. - The crimes of gender-based streets and public spaces sexual harassment are committed through any unwanted and uninvited sexual actions or remarks against any person regardless of the motive for committing such action or remarks.

Gender-based streets and public spaces sexual harassment includes catcalling, wolf-whistling, unwanted invitations, misogynistic, transphobic, homophobic and sexist slurs, persistent uninvited comments or gestures on a person's appearance, relentless requests for personal details, statement of sexual comments and suggestions, public masturbation or flashing of private parts, groping, or any advances, whether verbal or physical, that is unwanted and has threatened one's sense of personal space and physical safety, and committed in public spaces such as alleys, roads, sidewalks and parks. Acts constitutive of genderbased streets and public spaces sexual harassment are those performed in buildings, schools, churches, restaurants, malls, public washrooms, bars, internet shops, public markets, transportation terminals or public utility vehicles.

SEC. 5. Gender-Based Sexual Harassment in Restaurants and Cafes, Bars and Clubs, Resorts and Water Parks, Hotels and Casinos, Cinemas, Malls, Buildings and Other Privately Owned Places Open to the Public. - Restaurants, bars, cinemas, malls, buildings and other privately-owned places open to the public shall adopt a zero-tolerance policy against gender-based streets and public spaces sexual harassment. These establishments are obliged to provide assistance to victims of genderbased sexual harassment by coordinating with local police authorities immediately after gender-based sexual harassment is reported, making CCTV footage available when ordered by the court, and providing a safe gendersensitive environment to encourage victims to report genderbased sexual harassment at the first instance.

All restaurants, bars, cinemas and other places of recreation shall install in their business establishments clearly-visible warning signs against gender-based public spaces sexual harassment, including the anti-sexual harassment hotline number in bold letters, and shall designate at least one (1) anti-sexual harassment officer to receive gender-based sexual harassment complaints. Secuxity guards in these places may be deputized to apprehend perpetrators caught in flagrante delicto and are required to immediately coordinate with local authorities.

SEC. 6. Gender-Based Sexual Harassment in Public Utility Vehicles. - In addition to the penalties in this Act, the Land Transportation Office (LTO) may cancel the license of perpetrators found to have committed acts constituting sexual harassment in public utility vehicles, and the Land Transportation Franchising and Regulatory Board (LTFRB) may suspend or revoke the franchise of transportation operators who commit gender-based streets and public spaces sexual harassment acts. Genderbased sexual harassment in public utility vehicles (PUVs) where the perpetrator is the driver of the vehicle shall also constitute a breach of contract of carriage, for the purpose of creating a presumption of negligence on the part of the owner or operator of the vehicle in the selection and supervision of employees and rendering the owner or operator solidarily liable for the offenses

(b) Disseminate or post in conspicuous places a copy of this Act and the corresponding ordinance; (c) Provide measures to prevent gender-based sexual harassment in educational institutions, such as information campaigns and anti-sexual harassment seminars;

(d) Discourage and impose fines on acts of gender-based sexual harassment as defined in this Act;

(e) Create an anti-sexual harassment hotline; and

(f) Coordinate with the Department of the Interior and Local Government (DILG) on the implementation of this Act. SEC. 9. Role of the DILG. -The DILG shall ensure the full implementation of this Act by:

(a) Inspecting LGUs if they have disseminated or posted in conspicuous places a copy of this Act and the corresponding ordinance; (b) Conducting and disseminating surveys and studies on best practices of LGUs in implementing this Act; and

(c) Providing capacity-building and training activities to build the capability of local government officials to implement this Act in coordination with the Philippine Commission on Women (PCW), the Local Government Academy (LGA) and the Development Academy of the Philippines (DAP).

SEC. 10. Implementing Bodies for Gender-Based Sexual Harassment in Streets and Public Spaces. - The Metro Manila Development Authority (MMDA), the local units of the Philippine National Police (PNP) for other provinces, and the Women and Children's Protection Desk (WCPD) of the PNP shall have the authority to apprehend perpetrators and enforce the law: Provided, That they have undergone prior Gender Sensitivity Training (GST). The PCW, DILG and Department of Information and Communications Technology (DICT) shall be the national bodies responsible for overseeing the implementation of this Act and formulating policies that will ensure the strict implementation of this Act. For gender-based streets and public spaces sexual harassment. the MMDA and the local units of the PNP for the provinces shall deputize its enforcers to be Anti-Sexual Harassment Enforcers (ASHE). They shall be deputized to receive complaints on the street and immediately apprehend a perpetrator if caught in flagrante delicto. The perpetrator shall be immediately brought to the nearest PNP station to face char ges of the offense committed. The ASHE unit together with the Women's and Children's Desk of PNP stations shall keep a ledger of perpetrators who have committed acts prohibited under this Act for purposes of determining if a perpetrator is a first-time, secondtime or third-time offender. The DILG shall also ensure that all local government bodies expedite the receipt and processing of complaints by setting up an Anti-Sexual Harassment Desk in all barangay and city halls and to ensure the set-up of CCTVs in major roads, alleys and sidewalks in their respective areas to aid in the filing of cases and gathering of evidence. The DILG, the DSWD in coordination with the Department of Health (DOH) and the PCW shall coordinate if necessary to ensure that victims are provided the proper psychological counseling support services.

SEC. 11. Specific Acts and Penalties for Gender-Based Sexual Harassment in Streets and Public Spaces. - The following acts are unlawful and shall be penalized as follows: (a) For acts such as cursing, wolf-whistling, catcalling, leering and intrusive gazing, taunting, cursing, unwanted invitations, misogynistic, transphobic, homophobic, and sexist slurs, persistent unwanted comments on one's appearance, relentless requests for one's personal details such as name, contact and social media details or destination, the use of words, gestures or actions that ridicule on the basis of sex, gender or sexual orientation, identity and/or expression including sexist, homophobic, and transphobic statements and slurs, the persistent telling of sexual jokes, use of sexual names, comments and demands, and any statement that has made an invasion on a person's personal space or threatens the person's sense of personal safety (1) The first offense shall be punished by a fine of One thousand pesos (P1,000.00) and community service of twelve (12) hour's inclusive of attendance to a Gender Sensitivity Seminar to be conducted by the PNP in coordination with the LGU and the PCW;

(2) The second offense shall be punished by arresto menor (6 to 10 days) or a fine of Three thousand pesos (P3,000.00);

(3) The third offense shall be punished by arresto menor (11 to 30 days) and a fine of Ten thousand pesos (P10, 000.00).

(b) For acts such as making offensive body gestures at someone, and exposing private parts for the sexual gratification of the perpetrator with the effect of demeaning, harassing, threatening or intimidating the offended party including flashing of private parts, public masturbation, groping, and similar lewd sexual actions (1) The first offense shall be punished by a fine of Ten thousand pesos (P10,000.00) and community service of twelve (12) hours inclusive of attendance to a Gender Sensitivity Seminar, to be conducted by the PNP in coordination with the LGU and the PCW;

(2) The second offense shall be punished by arresto menor (11 to 30 days) or a fine of Fifteen thousand pesos (P15,000.00):

(3) The third offense shall be punished by arresto mayor (1 month and 1 day to 6 months) and a fine of Twenty thousand pesos (P20,000.00).

(c) For acts such as stalking, and any of the acts mentioned in Section 11 paragraphs (a) and (b), when accompanied by touching, pinching or brushing against the body of the offended person; or any touching, pinching, or brushing against the genitalia, face, arms, anus, groin, breasts, inner thighs, face, buttocks or any part of the victim's body even when not accompanied by acts mentioned in Section 11 paragraphs (a) and (b) (1) The first offense shall be punished by arresto menor (11 to 30 days) or a fine of Thirty thousand pesos (P30,000.00), pmvided that it includes attendance in a Gender Sensitivity Seminar, to be conducted by the PNP in coordination with the LGU and the PCW;

(2) The second offense shall be punished by arresto mayor (1 month and 1 day to 6 months) or a fine of Fifty thousand pesos (P50,000.00);

(3) The third offense shall be punished by arresto mayor in its maximum period or a fine of One hundred thousand pesos (P100,000.00).

ARTICLE II GENDER-BASED ONLINE SEXUAL HARASSMENT SEC. 12. Gender-Based Online Sexual Harassment. Gender-based online sexual harassment includes acts that use information and communications technology in terrorizing and intimidating victims through physical, psychological, and emotional threats, unwanted sexual misogynistic, transphobic, homophobic and sexist remarks and comments online whether publicly or through direct and private messages, invasion of victim's privacy through cyberstalking and incessant messaging,

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uploading and sharing without the consent of the victim, any form of media that contains photos, voice, or video with sexual content, any unauthorized recording and sharing of any of the victim's photos, videos, or any information online, impersonating identities of victims online or posting lies about victims to harm their reputation, or filing, false abuse reports to online platforms to silence victims.

SEC. 13. Implementing Bodies for Gender-Based Online Sexnal Harassment. - For gender-based online sexual harassment, the PNP Anti-Cybercrime Group (PNPACG) as the National Operational Support Unit of the PNP is primarily responsible for the implementation of pertinent Philippine laws on cybercrime, shall receive complaints of gender-based online sexual harassment and develop an online mechanism for reporting real-time gender-based online sexual harassment acts and apprehend perpetrators. The Cybercrime Investigation and Coordinating Center (CICC) of the DICT shall also coordinate with the PNPACG to prepare appr opriate and effective measures to monitor and penalize gender-based online sexual harassment.

SEC. 14. Penalties for Gender-Based Online Sexual Harassment. - The penalty of prision correccional in its medium period or a fine of not less than One hundred thousand pesos (P100,000.00) but not more than Five hundred thousand pesos (P500,000.00), or both, at the discretion of the court shall be imposed upon any person found guilty of any gender-based online sexual harassment. If the perpetrator is a juridical person, its license or franchise shall be automatically deemed revoked, and the persons liable shall be the officers thereof, including the editor or reporter in the case of print media, and the station manager, editor and broadcaster in the case of broadcast media.

An alien who commits gender-based online sexual harassment shall be subject to deportation proceedings after serving sentence and payment of fines.

Exemption to acts constitutive and penalized as genderbased online sexual harassment are authorized written orders of the court for any peace officer to use online records or any copy thereof as evidence in any civil, criminal investigation or trial of the crime: Provided, That such written order shall only be issued or granted upon written application and the examination under oath or affirmation of the applicant and the witnesses may produce, and upon showing that there are reasonable grounds to believe that gender-based online sexual harassment has been committed or is about to be committed, and that the evidence to be obtained is essential to the conviction of any person for, or to the solution or prevention of such crime.

Any record, photo or video, or copy thereof of any person that is in violation of the preceding sections shall not be admissible in evidence in any judicial, quasi-judicial, legislative or administrative hearing or investigation.

ARTICLE III QUALIFIED GENDER-BASED STREETS, PUBLIC SPACES AND ONLINE SEXUAL HARASSMENT SEC. 15. Qualified Gender-Based Streets, Public Spaces and Online Sexual Harassment. - The penalty next higher in degree will be applied in the following cases: (a) If the act takes place in a common carrier or PUV, including, but not limited to, jeepneys, taxis, tricycles, or appbased transport network vehicle services, where the perpetrator is the driver of the vehicle and the offended party is a passenger;

(b) If the offended party is a minor, a senior citizen, or a person with disability (PWD), or a breastfeeding mother nursing her child;

(c) If the offended party is diagnosed with a mental problem tending to impair consent;

(d) If the perpetrator is a member of the uniformed services, such as the PNP and the Armed Forces of the Philippines (AFP) , and the act was perpetrated while the perpetrator was in uniform; and (e) If the act takes place in the premises of a government agency offering frontline services to the public and the perpetrator is a government employee.

(1) Expressly reiterate the prohibition on gender-based sexual harassment; (2) Describe the procedures of the internal mechanism created under Section 17(c) of this Act; and

(3) Set administrative penalties.

SEC. 18. Duties of Employees and Co- Workers. - Employees and co-workers shall have the duty to: (a) Refrain from committing acts of gender-based sexual harassment; (b) Discourage the conduct of gender-based sexual harassment in the workplace:

(c) Provide emotional or social support to fellow employees, co-workers, colleagues or peers who are victims of genderbased sexual harassment; and (d) Report acts of gender-based sexual harassment witnessed in the workplace.

SEC. 19. Liability of Employers. - In addition to liabilities for committing acts of gender-based sexual harassment, employers may also be held responsible for: (a) Non-implementation of their duties under Section 17 of this Act, as provided in the penal provisions; or

(b) Not taking action on reported acts of gender-based sexual harassment committed in the workplace.

Any person who violates subsection (a) of this section, shall upon conviction, be penalized with a fine of not less than Five thousand pesos (P5,000.00) nor more than Ten thousand pesos (P10,000.00).

Any person who violates subsection (b) of this section, shall upon conviction, be pen alized with a fine of not less than Ten thousand pesos (P10,000.00) nor more th an Fifteen thousand pesos (P15,000.00).

SEC. 20. Routine Inspection. - The Depar tment of Labor and Employment (DOLE) for the private sector and the Civil Service Commission (CSC) for the public sector shall conduct yearly spontaneous inspections to ensure compliance of employers and employees with their obligations under this Act. ARTICLE V GENDER-BASED SEXUAL HARASSMENT IN EDUCATIONAL AND TRAINING INSTITUTIONS

SEC. 21. Gender-Based Sexual Harassment in Educational and Training Institutions. - All schools, whether public or private, shall designate an officer-in-charge to receive complaints regarding violations of this Act, and shall ensure that the victims are provided with a ge nder-sensitive environment that is both respectful to the victims' needs and conducive to truth-telling.

Every school must adopt and publish grievance procedures to facilitate the filing of complaints by students and faculty members. Even if an individual does not want to file a complaint or does not request that the school take any action on behalf of a student or faculty member and school authorities have knowledge or reasonably know about a possible or impending act of gender-based sexual harassment or sexual violence, the school should promptly investigate to determine the veracity of such information or knowledge and the circumstances under which the act of gender-based sexual harassment or sexual violence were committed, and take appropriate steps to resolve the situation. If a school knows or reasonably should know about acts of gender-based sexual harassment or sexual violence being committed that creates a hostile environment, the school must take immediate action to eliminate the same acts, prevent their recurrence, and address their effects.

Once a perpetrator is found guilty, the educational institution may reserve the right to strip the diploma from the perpetrator or issue an expulsion order.

ARTICLE IV

The Committee on Decorum and Investigation (CODI) of all educational institutions shall address gender-based sexual harassment and online sexual haTassnient in accordance with the rules and procedures contained !n their CODI manual.

GENDER-BASED SEXUAL HARASSMENT IN THE WORKPLACE

SEC. 22. Duties of School Heads. - School heads shall have the following duties:

SEC. 16. Gender-Based Sexual Harassment in the Worhplace. - The crime of gender-based sexual harassment in the workplace includes the following:

(a) Disseminate or post a copy of this Act in a conspicuous place in the educational institution;

(a) An act or series of acts involving any unwelcome sexual advances, requests or demand for sexual favors or any act of sexual nature, whether done verbally, physically or through the use of technology such as text messaging or electronic mail or through any other forms of information and communication systems, that has or could have a detrimental effect on the conditions of an individual's employment or education, job performance or opportunities; (b) A conduct of sexual nature and other conduct-based on sex affecting the dignity of a person, which is unwelcome, unreasonable, and offensive to the recipient, whether done verbally, physically or through the use of technology such as text messaging or electronic mail or through any other forms of information and communication systems;

(c) A conduct that is unwelcome and pervasive and creates an intimidating, hostile or humiliating environment for the recipient: Provided, That the crime of gender-based sexual harassment may also be committed between peers and those committed to a superior officer by a subordinate, or to a teacher by a student, or to a trainer by a trainee; and (d) Information and communication system refers to a system for generating, sending, receiving, storing or otherwise processing electronic data messages or electronic documents and includes the computer system or other similar devices by or in which data are recorded or stored and any procedure related to the recording or storage of electronic data messages or electronic documents.

(b) Provide measuxes to prevent gender-based sexual harassment in educational in situations, like information campaigns; (c) Create an independent internal mechanism or a CODI to investigate and address complaints of gender-based sexual harassment which shall: (1) Adequately represent the school administration, the trainers, instructors, professors or coaches and students or trainees, students and parents, as the case may be;

(2) Designate a woman as its head and not less than half of its members should be women;

(3) Ensure equal representation of persons of diverse sexual orientation, identity and/or expression, in the CODI as far as practicable;

(4) Be composed of members who should be impartial and not connected or related to the alleged perpetrator;

(5) Investigate and decide on complaints within ten (10) days or less upon receipt thereof;

(6) Observe due process;

(7) Protect the. complainant from retaliation; and

(8) Guarantee confidentiality to the greatest extent possible.

(d) Provide and disseminate, in consultation with all persons in the educational institution, a code of conduct or school policy which shall:

SEC. 17. Duties of Employers. - Employers or other persons of authority, influence or moral ascendancy in a workplace shall have the duty to prevent, deter, or punish the performance of acts of gender-based sexual harassment in the workplace. Towards this end, the employer or person of authority, influence or moral ascendancy shall:

(1) Expressly reiterate the prohibition on gender-based sexual harassment;

(a) Disseminate or post in a conspicuous place a copy of this Act to all persons in the workplace;

SEC. 23. Liability of School Heads. - In addition to liability for committing acts of gender-based sexual harassment, principals, school heads, teachers, instructors, professors, coaches, trainers, or any other person who has authority, influence or moral ascendancy over another in an educational or training institution may also be held responsible for:

(b) Provide measures to prevent gender-based sexual harassment in the workplace, such as the conduct of anti-sexual harassment seminars; (c) Create an independent internal mechanism or a committee on decorum and investigation to investigate and address complaints of gender-based sexual harassment which shall: (1) Adequately represent the management, the employees from the supervisory rank, the rank-and-file employees, and the union, if any;

(2) Designate a woman as its head and not less than half of its members should be women;

(3) Be composed of members who should be impartial and not connected or related to the alleged perpetrator;

(4) Investigate and decide on the complaints within ten (10) days or less upon receipt thereof;

(5) Observe due process;

(6) Protect the complainant from retaliation; and

(7) Guarantee confidentiality to the greatest extent possible;

(d) Provide and disseminate, in consultation with all persons in the workplace, a code of conduct or workplace policy which shall:

(2) Prescribe the procedures of the internal mechanism created under this Act; and

(3) Set administrative penalties.

(a) Non-implementation of their duties under Section 22 of this Act, as provided in the penal provisions; or (b) Failure to act on reported acts of gender-based sexual harassment committed in the educational institution.

Any person who violates subsection (a) of this section, shall upon conviction, be penalized with a fine of not less than Five thousand pesos (P5,000.00) nor more than Ten thousand pesos (P10,000.00).

Any person who violates subsection (b) of this section, shall upon conviction, be penalized with a fine of not less than Ten thousand pesos (P10,000.00) nor more than Fifteen thousand pesos (P15,000.00).

SEC. 24. Liability of Students. - Minor students who are found to have committ ed acts of gender-based sexual harassment shall only be held liable for administrative sanctions by the school as stated in their school nandbook.

SEC. 25. Routine Inspection. - The Department of Education (DepEd), the Commission on Higher Education (CHED), and the Technical Education and Skills Development Auth ority (TESDA) shall conduct regular spontaneous inspections to ensure compliance of school heads with their obligations under this Act.

Editor: Angel R. Calso

The World BusinessMirror

Friday, July 19, 2019

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Man screaming ‘You die!’ kills at least 23 at anime studio

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OKYO—A man screaming “You die!” burst into an animation production studio in Kyoto, Japan, and set it on fire early on Thursday, authorities said, killing 13 people and leaving more than 10 others presumed dead.

The blaze injured another 36 people, some of them critically, Japanese authorities said. Most were workers at Kyoto Animation, known for mega-hit stories featuring high-school girls, with places featured in the stories even becoming “pilgrimage sites” for their fans.

The fire started in the threestory building in Japan’s ancient capital after the suspect sprayed an unidentified liquid accelerant, Kyoto prefectural police and fire department officials said.

Thirteen were confirmed dead on the first and second floors, Kyoto fire department official Kazuhiro Hayashi said. On the third floor, more than 10 people were found unresponsive, he said. Some of them were found on the stairs, where they apparently collapsed while gasping for air and trying to go out to the roof.

H ay a s h i s ay s f i re f i g ht e r s were still searching inside the building in case anyone else was left behind.

Kyoto pol ice sa id t he sus pect was inju red a nd t a ken to a hospit a l for t reat ment. T hey

are investigating the man, who is 41 a nd not a compa ny employee, on suspic ion of a rson, pol ice sa id.

A witness who saw the suspect being approached by police told Japanese networks that the man admitted spreading gasoline and setting a fire with a lighter. She told NHK public television that the man had burns on his arms and legs, and that he was angrily complaining that something of his had been “stolen,” possibly by the company. NHK footage also showed sharp knives police had collected from the scene, though it was not clear if they belonged to the suspect.

Survivors who saw the attacker said he was not their colleague and that he was screaming “[You] die!” when he dumped the liquid and started the fire, according to Japanese media reports. They said some of the survivors got splashed with the liquid.

Kyoto Animation, better known as KyoAni, was founded in 1981 as an animation and comic book production studio, and its hits include Lucky Star, K-On! and Haruhi Suzumiya. The company does not have

SMOKE billows from a three-story building of Kyoto Animation in a fire in Kyoto, western Japan, on Thursday. Kyoto prefectural police said the fire broke out Thursday morning after a man burst into it and spread unidentified liquid and put fire. KYODO NEWS VIA AP

a major presence outside Japan, though it was hired to provide secondary animation work on a 1998 “Pokémon” feature that appeared in US theaters and a “Winnie the Pooh” video.

Footage on Japan’s NHK television showed gray smoke billowing from the charred building.

Other footage showed windows blown off.

“There was an explosion, then I

Arnault tops Gates to become world’s second-richest person

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ILL GATES has never ranked lower than No. 2 in the seven-year history of the Bloomberg Billionaires Index.

That run ended Tuesday when the Microsoft Corp. cofounder dropped to No. 3 behind France’s Bernard Arnault.

LVMH, Arnault’s luxury goods maker, advanced to a record Tuesday and pushed his net worth to $107.6 billion and ahead of Gates by more than $200 million.

The shares extended their gains Wednesday, rising 0.7 percent at 1:54 p.m. in Paris. Arnault has added about $39 billion to his fortune in 2019 alone, the biggest individual gain by far among the 500 people in Bloomberg’s ranking.

Arnault, 70, joined Gates and Amazon.com Inc. Founder Jeff Bezos, the world’s richest person, in the most exclusive wealth club

last month, when his fortune surpassed $100 billion for the first time. The trio’s collective wealth exceeds the individual market values of almost every company in the S&P 500 Index, including Walmart Inc., Exxon Mobil Corp. and Walt Disney Co. This year has been particularly good to French tycoons, with Arnault, Kering SA’s Francois Pinault and cosmetics heir Francoise Bettencourt Meyers tacking on a combined $57 billion.

Arnault and his family are among luxury titans who pledged more than $650 million in April for the reconstruction of Notre Dame Cathedral after fire ravaged the landmark church. He controls about half of Paris-based LVMH through a family holding company and also owns a 97-percent stake in Christian Dior, the fashion

house founded three years before his birth in 1949.

Arnault entered the luxury goods market in 1984 by acquiring a textile group that owned Christian Dior.

Four years later, he sold the company’s other businesses and used the proceeds to buy a controlling stake in LVMH. His art collection of modern and contemporary paintings includes pieces by Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol and Pablo Picasso.

Were it not for Gates’s philanthropic giving, he’d still be the world’s richest person. Gates has donated more than $35 billion to the Bill & Melinda Gates Foundation. Bezos’s net worth is up slightly this year to $125 billion, even after reaching a divorce settlement with MacKenzie Bezos that made her the world’s fourthrichest woman. Bloomberg News

heard people shouting, some asking for help,” a female witness told TBS TV. “Black smoke was rising from windows on upper floors, then there was a man struggling to crawl out of the window.”

Witnesses in the neighborhood said they heard bangs coming from the building, others said they saw people coming out blackened, bleeding, walking barefoot, Kyodo News reported. AP

UN finds organized crime expanding in Southeast Asia

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A NGKOK—A UN report says organized crime syndicates in Southeast Asia are flourishing in the illegal trafficking of drugs, wildlife, counterfeit goods and people.

The report noted that corruption, and freer movement of people and goods have facilitated the trafficking.

It says orga n i zed c r i me groups in the region are becoming more mobile as they exploit areas w ith weak border control and use advanced logistics to move products.

Jeremy Douglas, a regional representative of the United Nations’s Office on Drugs and Crime, said the cumulative value of the methamphetamine market is more than $60 billion this year. Facilitated by organized crime, the market has expanded since a 2013 study found the accumulated value was $15 billion. AP

US objections to French tech tax overshadow G-7 finance meet

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HANTILLY, France—The Trump administration is objecting to France’s plan to tax Facebook, Google and other US tech giants, a rift that’s overshadowing talks between seven longtime allies this week on issues ranging from digital currencies to trade.

As finance ministers from the Group of Seven rich democracies gathered Wednesday for a two-day meeting at a chateau in Chantilly, near Paris, US Treasury Secretary Steven Mnuchin planned to take a tough line against host France.

He was going to object to France’s proposed 3-percent tax on revenues of large tech companies with French Finance Minister Bruno Le Maire, according to a senior US Treasury official.

The controversial tax, which the French parliament passed days ago and could be signed into law within weeks, has already provoked a strong rebuke from the White House, which said it could lead to US tariffs on French imports.

The rift risks feeding into broader disagreements, including on trade, after the US imposed tariffs on some EU goods last year, drawing retaliation from Europe.

“We are very disappointed that France has passed a unilateral service tax,” said the Treasury official, who said Mnuchin was to raise the issue during a bilateral meeting with Le Maire. The official spoke on condition of anonymity, as the meeting had not yet taken place at the time.

French officials have indicated their

national digital tax—the first of its kind and created without any EU-wide agreement on the issue—is intended to spur an international agreement during the G-7 meeting. They said it will be withdrawn if a global deal is forged, a gamble that could provide negotiating leverage with the US. “We [are]...accepting to negotiate a new global taxation on digital activities,” Le Maire told reporters outside the royal stables at Chantilly, a town famed today for horse racing.

Discord is no stranger to G-7 meetings. Last June, Trump roiled the G-7 summit in Canada by first agreeing to a group statement on trade only to withdraw from it while complaining that he had been blindsided by Canadian Prime Minister Justin Trudeau’s criticism of Trump’s

tariff threats. In an extraordinary set of tweets, Trump threw the G-7 talks into disarray.

Officials seem to be prepared for the potential for ugly divergences at this week’s G-7, with Mnuchin saying it could end with just a report of the discussion—rather than the traditional final statement signed by all.

The regulation of technology companies is emerging as a major issue around the world. The US is following the European Union’s lead in taking a closer look at whether some of them are too big for the good of the wider economy. The topic was underscored Wednesday, when EU regulators opened a formal antitrust investigation into Amazon, echoing similar ones against the likes of Google and Microsoft. AP

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Agriculture/Commodities

Friday, July 19, 2019 • Editor: Jennifer A. Ng

BusinessMirror

www.businessmirror.com.ph

House urged to review rice trade lib law

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By Jovee Marie N. dela Cruz & Rea Cu @ReaCuBM

tion among importers will be felt even more through additional retail price reductions,” he added.

@joveemarie

HE Magsasaka party-list is calling on the House of Representatives to conduct an immediate review of the implementation of the rice trade liberalization law when the first regular session of Congress opens on Monday.

In House Resolution 21, Partylist Rep. Argel Joseph Cabatbat of Magsasaka said the effect of Republic Act (RA) 11203 must be investigated after planters reported that the average farm-gate price of unhusked price has dropped to P12 per kilogram.

Cabatbat said the aim of the law is to cut the price of rice so it could be affordable for consumers, particularly the poor, but retail prices fell by only a single digit.

He said the average retail price of well-milled rice declined to only P43.10 per kg this year, from P44.12 per kg in 2018 and that of regular-milled rice dropped to only P38.72 per kg this year, from last year’s P40.37 per kg. Prices were reduced by 2 percent and 4 percent, respectively. “[However], farm-gate prices of fresh palay have dropped dramatically from P17 per kg in 2018 to P12.40 per kg this year, and dry

palay from P23 per kg in 2018 to P16.40 per kg this year, a reduction of 37 percent and 29 percent in price, respectively,” he said.

Magsasaka filed the resolution after Agriculture Secretary Emmanuel F. Piñol announced that the average farm-gate price of palay dropped to a record low of P12 per kg to P14 per kg in many parts of the country.

Piñol said the prevailing farmgate price of palay is 30 percent to 40 percent lower than the average of P20 per kg recorded earlier this year. If this trend continues, Piñol warned that Filipino rice planters could lose an estimated P114 billion for the whole year.

The decline in farm-gate prices, Piñol said, also prompted farmers and other rice industry stakeholders to urge President Duterte to review the loopholes of RA 11203.

The President signed into law RA 11203, or “An Act Liberaliz-

Fund release

A FARMER pulls out rice seedlings from a waterless field in Barangay Inalorenza, Bayambang, Pangasinan. El Niño and the lack of irrigation water caused rice planters to incur losses. The Department of Agriculture said farmers will incur more losses due to the drop in average farmgate prices. LAILA D. AUSTRIA

ing the Importation, Exportation and Trading of Rice, Lifting for the Purpose the Quantitative Import Restriction on Rice,” on February 14. Implementing rules and regulation of the law was promulgated on March 5, enabling the law’s full implementation.

‘Not needed’

THE Department of Finance (DOF) said, however, that the review of RA 11203 is not needed as rice prices have gone down and will decline even further in the coming months.

Finance Secretary Carlos G. Dominguez III announced this via SMS when he was asked whether RA 11203 should be reviewed.

Citing the weekly survey of commodity prices conducted by the Bangko Sentral ng Pilipinas, Dom ing uez noted t h at wel lmilled rice and regular-milled rice were sold at an average of P42.92 per kg and P38.59 per kg, respectively, in June.

“The rice liberalization law is one of the most important legislative achievements of the 17th Congress and the Duterte administration. For Filipino households, lower prices are already a reality,” he said.

“Prices dropped between P5 and P10 per kilo in some areas since their peak in September last year. On average, contribution of rice to inflation was negative in

June 2019,” he added.

In January, the average price of well-milled rice reached P45.09 per kg, while regular-milled rice was priced at P41.41 per kg. In September 2018, well-milled rice was priced at P49.56 per kg, while regular milled rice can be bought for P45.75 per kg, based on government data.

“DTI [Department of Trade and Industry], DA [Department of Agriculture], Neda [National Economic and Development Authority] and DOF have been continuously monitoring import and retail prices to check whether traders are earning fair, and not excessive, profits. We expect that the effects of enhanced competi-

RA 11203 also mandated the set up of the Rice Competitiveness Enhancement Fund (RCEF), which will consist of tariffs collected from shipments of imported rice. The national government had agreed to front-load P10 billion for the RCEF. The Department of Budget and Management (DBM) told the BusinessMirror that it will release only P5 billion for the RCEF this year as it has released P5 billion to the DA last year. However, the DA said the amount was not part of the RCEF. RCEF aims to provide farmers tools and equipment, assistance in the production, promotion and distribution of certified rice seeds, upgrading of post-harvest storage facilities, credit assistance, irrigation support, and research and development (R&D) support.

“The DBM confirmed that they released today [Thursday] P5 billion as required by the rice tariffication law,” Dominguez said.

DBM OIC Janet B. Abuel said in a news briefing on Thursday that the agency has released P4.3 billion for the RCEF. She said the agency will release soon the remaining P700 million to the Technical Education and Skills Development Authority.

As for the remaining P5 billion for the RCEF, Abuel said the national government will look into the possibility of granting it, but this will depend on a number of circumstances, including the collections of the Bureau of Customs.

PHL, Turkey to launch training program for BARMM farmers

By Jovee Marie N. dela Cruz @joveemarie

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HE Department of Agriculture (DA) on Thursday said the Philippines and Turkey will launch a joint exchange program to train leaders and farmers of the newly created Bangsamoro region on modern agricultural methods.

Agriculture Secretary Emmanuel F. Piñol said in a statement that Turkey, through its Ambassador to the Philippines Artemiz Sumer, has agreed to start the program in September.

He said the two countries are now preparing their own version of the draft implementing guidelines of the program, which, when finalized, may be signed by August.

The DA chief said the program will focus on grains production, dairy farming, cattle and goat raising to help farmers access the huge

halal market not only in the Philippines but also in the Middle East.

“Turkey, a rich Muslim nation ranked No. 7 among the top agricultural producers in the world, yesterday [Wednesday] accepted a proposal by the Department of Agriculture for a Joint Exchange Program to train and expose leaders and farmers of the Bangsamoro region to modern agriculture in that country,” said Piñol.

Under the exchange program proposed by the DA, he said local executives from the Bangsamoro region, agriculturists and farmer leaders will undergo a seven-day short course in Turkey, which would include exposure to its modern agricultural areas.

Piñol, who will soon take over the reins of the Mindanao Development Authority, said the scholar will be divided in five batches representing the five provinces within the Bangsamoro Autono-

mous Region in Muslim Mindanao (BARMM).

“As each batch of scholars go home to their province, the Turkey government, through the Turkey International Cooperation Agency, will conduct follow-through programs to ensure that what the scholars learned would be applied in their farms,” he said.

“The best way to influence the mindset of our leaders and farmers on agriculture is to expose them to good examples and benefits of modern farming technology, and the best way to do this is to show them how a Muslim country has become the seventh-largest agricultural producer in the world,” Piñol added.

According to Piñol, local officials such as governors and mayors must be involved in the program as they could serve as the catalyst of agricultural modernization in their areas.

Rhinos come to the bond market, and other species may follow

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HE planned sale of a rhino impact bond, aimed at growing the population of the endangered black rhino, is seen by its backers as a test for the creation of a conservation debt market that could be used for everything from protecting species facing extinction to preserving wildlife areas.

The sale next year of the $50-million bond, the first financial instrument for species conservation, is being run by the Zoological Society of London and Conservation Capital. The company was founded in Kenya about 15 years ago seeking to create business and investment finance tools for conservation.

Under the program, the fiveyear bond will cover conservation efforts at five sites in South Africa and Kenya where about 700 black rhinos, or about 12 percent

of the world’s population of the animals, live. Investors will be paid back their capital and a yield if the number of animals increases.

The target is to boost the world’s black rhino population by 10 percent. “We see this as a shift in the conservation-funding model,” said Oliver Withers, head of conservation finance and enterprise at the Zoological Society of London. “There is huge scope for this to be used for other species. We started out with the framework of ‘can we build an impact bond for conservation.’”

Countable, charismatic

WHILE the rhino security is a first, so-called impact bonds have been used to finance a variety of outcomes from girls education in rural India to sustainable marine and fisheries projects in the Seychelles.

The bond will give investors a chance to “recycle” their capital and buyers are likely to be highnet-worth individuals with an interest in conservation, as well as impact investment funds, so called ESG (environmental, social and governance) funds and foundations, Glen Jeffries of Conservation Capital said.

Black rhinos were chosen because they are “countable, critically endangered and charismatic,” he said.

There are about 5,500 black rhinos in the wild in Africa, where they are an indigenous species, down from 65,000 in 1970. That compares with about 20,000 of the larger white rhinos that mostly live in South Africa. They weigh as much as 1.4 metric tons compared with the 2.5-ton white rhino. Bloomberg News

The Regions BusinessMirror

www.businessmirror.com.ph

DOH warns the public vs ‘W.I.L.D.’ diseases

By Ashley Manabat

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Correspondent

ITY OF SAN FERNANDO— The Department of Health (DOH) has raised the alarm on the so-called WILD diseases as it warned the public against it. WILD illnesses refer to waterborne diseases, influenza, leptospirosis and dengue.

Trixia M. Ponio, Health Education and Promotion officer II DOH Region III, said these are illnesses that usually rampantly spread during rainy season.

“Usually, we can see an increase

in dengue cases during rainy season because rainwater accumulates in tires, bottles and other empty containers,” Ponio said. “[Water] becomes stagnant and [are] breeding sites for mosquitoes.”

Ponio added that aside from dengue, the regional DOH office also anticipates a rise in leptospirosis cases during rainy season, especially in perennially flooded towns like Macabebe and other farms. She added that influenza, which is highly contagious, is also prevalent this period.

“Flu usually starts with colds and cough, accompanied by body aches and fever,” Ponio said. “This can worsen and rapidly spread in crowded communities, especially among those who have weak immune system.”

Another type of disease the public needs to avoid contraction are waterborne diseases including cholera and diarrhea. “ These are common among those who are in the evacuation centers or those whose water source

becomes contaminated,” Ponio said. “These can also result from unsanitary food preparations.”

To combat these diseases, the DOH is urging the public to maintain a strong immune system, eat healthy food, practice hygienic and sanitary preparation of foods and avoid contamination of drinking water.

Ponio recommends bringing an umbrella and avoiding floodwater during rains. She also advises the public to wear boots and other protective gear so that leptospirosis bacteria will not enter wounds and other openings.

The DOH, she added, also discourages the public from selfmedication and to immediately go to the nearest health station when not feeling well.

Friday, July 19, 2019 A9

Comelec asks for applications for satellite voter registration

T

HE Commission on Elections (Comelec) announced last Thursday it is now accepting applications for putting up satellite voter registration.

“Request shall be coordinated with and approved by the Election Officer, who have jurisdiction over their district, city or municipality,” the poll body said in a statement.

The Comelec issued the advisory with the upcoming resumption of the voter registration from August 1 to September 30 for the Barangay and Sangguniang Kabataan Elections next year.

Comelec Spokesman James B. Jimenez said the satellite registration will enable those who want to register but cannot go to the Office of the Election Officer.

Jimenez assured there will be at least one satellite voter registration in each locality.

“It is our way of reaching out to every single Filipino citizen eligible to

register but cannot go to their local Comelec offices due to schedule or travel constraints,” he was quoted in a statement as saying.

The Comelec said the satellite voter registration activities may be established in barangay halls/centers, public and private schools and universities, malls and commercial establishments, and other public and convenient places.

Jimenez said the satellite registration will process all types of applications including applications for registrations, transfer of registration record, change or correction of entries, reactivation of registration record, inclusion of registration record, and reinstatement of name in the list of voters.

“Applications may be filed from Mondays to Saturdays, including holidays, from 8 a.m. to 5 p.m. in all Offices of the Election Officer or satellite registration site,” the Comelec said. Samuel P. Medenilla

A10 Friday, July 19, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Rice versus wheat

T

HE United States Department of AgricultureForeign Agricultural Service recently reported that wheat imports by the Philippines increased 25 percent over 2018. This was attributed in part to reduced local production of both rice and corn.

However, the key statistic is that the Philippines’s wheat imports have more than doubled over the last decade. The Philippines sources 95 percent of its wheat from the US. Wheat is an important commodity for both human and animal consumption. The data shows that half of the milled wheat we produce from this import is used for bakery products like bread and the popular pan de sal. The remaining 50 percent is for noodles and pasta, and we love our ramen and spaghetti.

It is considered a fact that Northern Chinese are generally taller than their southern counterparts partially due to genetics. Their ancestry from the more-or-less indigenous “Han” people was “complimented” by the numerous invaders from all around central Asia.

However, there is a dietary factor for the increased height.

Milled wheat, the staple in North China, has higher protein content than milled rice, which is the staple of the South. Remember from elementary school: “Go, Grow and Glow foods”.

Protein from whatever source is the Go component.

Recognizing that nutritionists strongly recommend wholegrain wheat products and brown rice as more healthy, there is a difference in nutritional value of well-milled rice and white flour.

The fiber content is much higher for wheat, although rice is easier to digest. While both have the same amount of iron, wheat contains calcium, which rice does not, and is much higher in magnesium, phosphorus, iron and potassium. And we are talking about wheat containing double to 10 times as much of these nutrients. But the key nutritional difference is the protein content.

Comparing 300 grams of rice and wheat, wheat offers 14 grams of protein and rice only 3 grams. The 300 grams of wheat provide 82 percent of the recommended daily requirement of protein versus only 16 percent from rice. The cost of rice is cheaper.

However—and you know this if you eat brown rice—wheat is more “filling” and you need to eat more rice than wheat to get the same nutritional value.

Filipinos are not going to give up their daily rice nor should they. But newly elected Manila City Mayor Isko Moreno said he wants to institutionalize the Marcos-era Nutribun program, and that may be an excellent idea to address our problems with childhood nutrition.

The original Nutribun was developed by the US nutritionists in 1970 and was made from a blend of white and whole-wheat flour mixed with a nonfat dried milk powder. It was then fortified with soy flour, which has both protein and micronutrients.

Further, it can easily be locally produced.

The national government would do well to watch and learn if Mayor Moreno puts this program in place. Young Filipinos need this.

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BETTER DAYS

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EACHERS have an important role in Philippine society. In a country like the Philippines where education and learning are legacies passed from one generation to the next, teachers are the key people in shaping and molding every generation.

In fact, the United Nations Education, Scientific and Cultural Organization (Unesco) states outright that “teachers are one of the most influential and powerful forces for equity, access and quality in education and key to sustainable global development.” However, it is an unfortunate truth that the following sentence from Unesco’s web site states: “Their training, recruitment, retention, status and working conditions remain preoccupying.”

Our public-school teachers labor under many difficulties, chief of which is their salary. The current minimum wage in Metro Manila alone, according to the National Wages and Productivity Commission (NWPC), is at around P16,000.

A public school teacher’s starting pay is at P19,077. This is not commensurate to the dedication and passion that many of our teachers offer their profession.

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Because education is particularly prized in our country, and because our teachers educate every generation of Filipinos, I re-filed a bill to increase public-school teachers’ salaries. My father, who instilled in me a great respect for education, filed a similar bill as early as 2010.

Our measure proposes that a teacher who holds the lowest appointment should have a salary of P36,409, a marked improvement from the P19,077 current salary.

The bill also proposes that the salaries of all other teachers with higher salary grades should also be adjusted accordingly. This is in line with the “parity rule,” where government employees of the same rank in the different branches should have the same base pay. This bill restores that equity for teachers.

However, in line with raising the salaries of our teachers, we should also consider two other concerns.

Borrowed life Rev. Fr. Antonio Cecilio T. Pascual

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Higher salaries for our public-school teachers

B

ROTHERS and sisters, an issue we barely discuss or even avoid discussing altogether is death by suicide. We usually hear of this issue in the news, like in America where famous celebrities decide to end their lives. In the Philippines, this was also in the news recently when a popular musician recorded live on social media a video of his suicide from a tall building.

According to a 2015 survey by the World Health Organization, 11.6 percent of students from 13 to 17 years old mentioned suicidal thoughts have crossed their minds. What is worrisome was that 16.8 percent of these students attempted to commit suicide.

At the Philippine General Hospital’s emergency room, for example, almost every day doctors attend to patients who attempted to end their lives. Eight out of 10 child psychiatrists in the Philippines have noticed that the number of

children-patients having suicidal tendencies is rising.

Depression is one of the reasons why people commit suicide. And this is what the 2018 Mental Health Law, as well as the National Crisis Hotline that opened in March under the care of the National Center for Mental Health of the Department of Health, seek to address. The government wants to help those who are experiencing mental health conditions through counseling and psychiatric emergencies to prevent suicide attempts.

The first is that there are more than 800,000 public-school teachers. This requires that a specifically programmed budget be created to cover the expense of upgrading teachers’ salaries. Because of this, the bill proposes that five years be given to the Department of Budget and Management for proper implementation. It will be necessary that the Department of Education (DepEd) and the DBM come up with the rules and regulations that will be used for implementation.

The second concern is that a clear career advancement track should also be in place so that teachers are encouraged to become much better in their craft. For example, the Commission on Higher Education has scholarship programs available for teachers. This is particularly important, as only 57,761, or 40.38 percent, of teachers in higher education institutions have a master’s degree, and only 20,118, or 14.07 percent, have a PhD. We should support more incentives like this, as better teachers can and will translate to better education for the youth.

The DepEd announced in September 24, 2018, a proposal that career and salary advancement for teachers will be based on competency. This assures that teachers can advance in their careers without having to necessarily go into administration. This is a welcome move, as it will, with proper guidelines, open

the higher ranks to many teachers, and prevent situations where veteran teachers remain stuck in lower pay grades.

Addressing these two concerns properly would help our educational system immensely. In a 2013 Thomas B. Ford Institute report, it was noted that an effective teacher could, at times, be more effective than keeping class sizes smaller.

With our country’s average class size pegged at 35 to 50 students, as proposed by the DepEd, it makes sense that we should offer as many career advancement options as possible to our teachers.

After many years of filing this measure, my hope is that the forthcoming Congress will finally pass this bill. After all, our President has mentioned that he does support teachers—and that after our uniformed personnel, they are the ones who are set to receive pay raises.

Hopefully, he touches this during his coming State of the Nation Address, and perhaps even express that strong action be taken on this matter. After all, educating the youth is one of the paths of change for a brighter future for our nation.

Our Holy Church has not remained deaf on the need to give attention to the rise in suicide attempts. This is proven by the recently released pastoral letter by our bishops where we are reminded that in the face of joy brought by Easter, there is the sorrow and suffering of Jesus every Black Friday.

This proves that we are not alone in our mourning. Our bishops also added that one’s greatness or repute is not measured by his/her escape from the world full of suffering; it relies on his/her perseverance to face life’s challenges.

We are encouraged by the Church to help our brothers and sisters who are confused or suffering from depression. Members of the family can all help prevent deaths by suicide.

Parents must listen and give time to their children. Family members must recognize that even the smallest arguments or misunderstandings can affect children.

The role of schools and the government is also important. Schools are encouraged to end bullying and to provide services in guiding children, while the government has the duty to improve and strengthen the

programs that prevent people from committing suicide.

We must also recognize the need to ask for help from specialists and experts in mental health. We need help. We have to communicate with the people close to us, those whom we trust, and those who understand what we are going through in life.

In our Church, the priests and the religious may not be mental health experts, but they are ready to listen without prejudice.

And lastly, brothers and sisters, we need to cultivate a culture of presence. Instead of judging our struggling fellowmen, we must be open to empathize with them, especially in moments when they forget that God Almighty gave them their lives.

We all have borrowed lives. As God has said in Jeremiah 29:13, “You will seek Me and find Me when you seek Me with all your heart.” Let us help each other find our God of mercy.

Sen. Sonny Angara has been in public service for 15 years—nine years as Representative of the Lone District of Aurora, and six years as senator. He has authored and sponsored more than 200 laws. He recently won another term in the Senate.

E-mail: sensonnyangara@yahoo.com|Facebook, Twitter & Instagram: @sonnyangara.

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Dutertenomics in the midterm

The evil that men do Tito Genova Valiente

ANNOTATIONS

Fernando T. Aldaba, PhD and Alvin Ang, PhD

EAGLE WATCH

O

N Monday, July 22, 2019, the President will give his fourth State of the Nation Address. He will give this Sona under the backdrop of unprecedented popularity. Both the Social Weather Station (SWS) and Pulse Asia recorded more than 80percent approval rating for the President. Critics of the administration were surprised with these historic high trust ratings of the President considering that these surveys were conducted after the Recto Bank incident. This followed the landslide victory of the senators and most congressional and local candidates endorsed by the President.

While the first-quarter growth performance of the economy was moderate, our own analysis in ACERD show that the prospects of sustaining a relatively high trajectory in the next three years remains strong, as long as the infrastructure program stays on track. The broader economic numbers such as GDP, nonetheless, are not the main source of the President’s popularity. It is actually the day-to-day economics where the performance of this controversial administration has been palpable. Despite all the issues and controversies in the political arena (human-rights violations, weakening of democratic institutions and the rule of law), the broader and the day-to-day economy seem to be shielded from such controversies. There seems to be a firewall (which we previously described in a column) that continues to exist between the political and economic arenas. It also helped that the President has given his economic team some autonomy to do what they needed to do. The economic managers were able to bring and sustain the economy on course because there was not much deviation from the basic macroeconomic policies of the previous administrations of Arroyo and Aquino.

Consider how the sustained economic growth and the accompanying improvements though modest in the poverty levels and the labor market of the country. Poverty among Filipino families has gone down by 6.1 percent from 2015 to 2018 (using the first half statistics). The official unemployment rate is currently near 5 percent while the underemployment rate is at the 15-percent to 16percent level. This means that both the quantity and quality of employment has become better in the last three years.

But beyond the big numbers, these improvements have been translated into the basic household budgets of the ordinary Filipino family. The passage of the free public education up to college level has freed education resources for the children. The increase in SSS pension has relieved the medicine requirements of the grandparents.

The first package of the Tax Reform for Acceleration and Inclusion (TRAIN) law removed the income tax burden of the parents (earning up to P21,000/month). Recently, a new law exempting payment of fees for first-time jobseekers was also passed. The result is a significant increase in purchasing power for the ordinary family. For those who are in the lower levels of income bordering poverty and below, the administration has passed the Universal Health Care law that will address the increasing out of pocket health expenditures of the people. It also institutionalized the Conditional Cash Transfer program by passing the Pantawid Pamilyang Pilipino Program (4Ps) ensuring the future human capital of the country by investing in basic health and education. To top it all, the administration was able to address the decade high inflation in 2018 in less than a year, bringing inflation back within the government target of 2-4 percent.

This improvement in the day-to-

It is actually the day-to-day economics where the performance of this administration has been palpable. Despite all the issues and controversies in the political arena, the broader and the day-to-day economy seem to be shielded from such controversies. There seems to be a firewall that continues to exist between the political and economic arenas. day economics is validated by our colleague, Dr. Edsel Beja, who developed and computed a misery index composed primarily of data from PSA and SWS (it was in this column also in 2014). His latest computations revealed that across administrations, the index improved considerably under President Duterte.

Beyond the day-to-day economy, the government has also been able to pass difficult economic and relevant reforms in a quick manner such as: first package of TRAIN, the Ease of Doing Business and Amendments to Arta law; the Agricultural Free Patent Reform Act, the rice tariffication law that helped ease inflation, Maternity Leave extension, implementation of RH law, establishment of the BARMM, Magna Carta for scientists, engineers, researchers, and other science and technology workers and Balik Scientist law.

It also completed rehabilitation of the following airports: Cagayan, Bohol, Mactan and Puerto Princesa; ongoing at Clark, Aklan, General Santos, Bicol, Iloilo, Davao, Laoag and Zamboanga. Successful rehabilitation of Boracay and the ongoing work at Manila Bay. It has shown political will in making these things happen.

There are, however, still pressing economic issues that need to be addressed. Poverty incidence, while improved, is still double digit and in absolute numbers, there are still millions of indigent Filipinos. Inequality at various levels (household, regional) remains high.

This means giving priority to agricultural production beyond rice as a key economic strategy as the poorest sector remains to be those working in agriculture. Corruption remains high, especially in notorious revenue-generating agencies despite the verbal assurance of the President that he will fire officials of such agencies. There are also some constraints and challenges ahead.

The clamor to push through with federalism, which can create a fiscal challenge that can disrupt the sustained growth of the economy. The ongoing US-China trade war which is impacting our export industries involved in the global value chain.

And last, the challenge of new technologies and artificial intelligence, and how we will be able to prepare for their impact, especially on the labor market. We expect the President to explain his strategy in addressing these challenges during the Sona.

Fernando T. Aldaba is professor of Economics and dean, ADMU School of Social Sciences. Alvin Ang is professor of Economics and ACERD director.

A

MAN who was invited to a drinking party got drunk. A little boy went missing. He was one year of age. Tender, helpless, innocent. The next day, the child was found, dead. Raped. The crime, no the evil, was committed by the man.

He claimed drunkenness, not drugs, not poverty, not insanity, as the reason for the evil he committed against one who did not even know what evil was.

Where does that kind of evil come from?

When so much evil is committed, does good follow? The public want the man killed, not tried. Justice cannot assuage the evil in the act.

The politicians find once more the greatest reason to bring back the death penalty: the evil acts of other men. The same men and women who commit the evil act of corruption and graft each day find in their position the wellspring of good.

Are these the tricks of the Divine —in that we find the good even in those whose positions make them seek the dastardly and vile?

In the days of martial law and the era of the notorious conjugal dictatorship, one half of that tandem was a woman who saw in the classic triangle of the good, the true and the beautiful the source of her delusion. She was self-referential in the appreciation of the principle: she was beautiful, and therefore, good and beautiful.

Poverty, which was caused by the dictatorship, was ugly therefore it was not good and it was not true. Twisted and turned absurd, the ancient wisdom became a rallying point for Art, with the capital “C.” A center for culture was set up in, of course, the avowed center. From the very start, centralizing culture was not only inept, it was evil.

If good is in our unconscious, does it follow that evil is also there? What happens when the notion of good is banished from our memory? What happens when we do not have memory of anything that is good or anything that is bad?

Responding to one of my Annotations, writer Sylvia Mayuga asks if longing for the past is similar to the concept of mingaw? The word mingaw connotes a remembering of something or someone, a longing. The word is found in some parts of Bicol, and the Samar Leyte areas. The word pungaw is used in Bicol and focuses the recollection with an intense but assuring loneliness. If there is a taste linked to mingaw or pungaw, then it should be part-bitter, part-sweet. The sensation does not stop there for mingaw can also bring in regrets of the fleeting kind and a sense of accomplishment for something difficult to achieve but was acted upon.

The questions of Sylvia invited me to look for words that connote a feeling of good memory for acts that were in essence not good.

In front of the Senate, another event has occurred. Tragic and comic, pathetic and absurd: three priests sprinkle holy water on the ground of the shrine to the politics of the land. A nun bears the statue of Virgin Mary.

She does not dance with it. She confronts the Senate with it.

All of them are asking that the Senate be good for the country and, if there is evil, for that negative force to be banished.

Can there be a nostalgia for the dark histories? Can we be nostalgic about evil?

In every public lecture I conduct on film education, I always introduce my talk with a short video of a dance.

The dancer is Daniil Simkin and the dance is called “Fallen Angel.” The title is, what literature teachers may call, a giveaway. For all the in-yourface denotation of the title, the dance remains deeply discarnate.

“Fallen Angel” opens with a young man in white shirt standing on a chair.

He carries a dark coat, which he hangs on the back of the chair as he gets down.

He walks toward the front stage and begins to dance to a classical music. He moves slowly and twirls and leaps. He goes to the chair again, stand on it and looks up for a long time. With his back to the audience, we see that there are two bleeding wounds slashed down his spine.

Something must have been brutally sliced off his body. The music changes to a bolero beat toward the middle. The dancer’s movement becomes more frenzied and agitated. He does the impossibly high leaps. Every now and then, he looks up and the expressions on his face are those of regret and longing. Seeing nothing as he gazes upward, the dancer goes back to where the chair is. He sits down and catches his breath. He looks up once more and then stands, gets his black coat. He puts it on and walks toward the audience as slowly the lights dim and darkness engulfs the stage.

We know this dancer, we know this Man. He is us, dancing to attract the Divine, to look for God. And so we have a man who receives the gift of hospitality of another man, kills the kin of that man in the person of the one-year-old boy. He does not only kill the boy; he rapes the baby, for he was a baby, as if to make sure the soul goes with the body.

In front of the Senate, another event has occurred. Tragic and comic, pathetic and absurd: three priests sprinkle holy water on the ground of the shrine to the politics of the land. A nun bears the statue of Virgin Mary. She does not dance with it. She confronts the Senate with it.

All of them are asking that the Senate be good for the country and, if there is evil, for that negative force to be banished.

They all believe that the Senate has become a wicked institution.

They also believe there is hope in something organically evil like politics. Many would agree with them. Many would disagree with their rituals. But they persist. They believe that the Divine can still intercede in the purification of the ground upon which ideas about goodness in leadership is expected to sprung.

Exiled from the good, what can we do? Perhaps, we can pray using the words of Nietzsche, and say: “What water is there for us to clean ourselves? What festivals of atonement, what sacred games shall we have to invent? Is not the greatness of this deed too great for us? Must we ourselves not become gods simply to appear worthy of it?”

Say “Amen,” for we all know the answer.

E-mail: titovaliente@yahoo.com

A patriot unremembered Manny F. Dooc

TELLTALES

I

’M sure many Filipinos saw the video on social media about a party-list congressman, Rep. Alfred de los Santos of Ang Probinsyano, throwing a punch at a hapless waiter who was serving his group in a Legazpi City restaurant. The honorable congressman dishonored the entire batch of the 18th Congress by acting like one of the thugs in the popular TV series after which his party-list was named, Ang Probinsyano. I’m sure the great and well-loved actor, FPJ, who created the original top-grossing flick, must have turned in his grave, and his heir, Coco Martin, must now be distancing himself from the honorable congressman after this fiasco.

This is one of the defects of the party-list system, since we vote for the party and not the personal nominees who represent the party-list.

We have no opportunity to vet the qualifications and character of the nominees, as they are hardly known to the electorate. Maybe we should pit the congressman against Sen. Manny Pacquiao to give him a chance to demonstrate his boxing prowess against a legitimate opponent.

As a member of Congress, the congressman’s role is to defend his constituents and not to oppress them, particularly the less fortunate. If memory serves me right, there were previous punching incidents in the halls of Congress. One was when Rep. Marcial R. Pimentel of Camaraines Norte threw a punch

Friday, July 19, 2019 A11

at then Rep. Aguedo Agbayani of Pangasinan after the latter accused the former of being a mouthpiece of former President Diosdado Macapagal. Another incident was when Rep. Jose Mari Gonzales of San Juan City slapped the House Sergeant-AtArms during the impeachment proceedings of President Erap Estrada.

We should remind our solons that their duty is to make laws, not to break them.

Incidentally, both Pimentel and Agbayani were outstanding legislators and governors during their terms, although they belonged to different parties.

Next week, the President will formally open the 18th Congress and deliver his fourth Sona. As the elected representatives and senators

start performing their official functions, let us recall to mind the immortal words of Agbayani, who once said that what we need is a “leadership that conceives of public office as a trust, not a privilege; as a duty not as power; as a responsibility not authority; and as an instrument of service to the people not for self-aggrandizement.” Let’s pray that they carry every word of it in their hearts as they start discharging their duties. nnn

ALMOST gone unnoticed even in his home province is the 77th death anniversary of one of the greatest heroes of World War II, the former governor and congressman of Camarines Norte, Wenceslao Q. Vinzons. Vinzons was the foremost youth leader who was elected as the president of the UP Student Council, editor in chief of the Philippine Collegian, and the founder and first chairman of the College Editors’ Guild. He placed third in the 1933 Bar Examinations. He organized the Young Philippines Party, which counted among its members the likes of Arturo Tolentino, Lorenzo Sumulong, Charito Planas and many other young turks who became political luminaries after the war.

He was elected as the youngest delegate to the 1935 Constitutional Convention, and youngest elected governor and congressman of the Philippines. When General Emilio Aguinaldo ran against Manuel Quezon for president during the Commonwealth period, Aguinaldo won only in one province outside

of Cavite, in Camarines Norte, with the support of Vinzons. He organized the first guerilla movement and just a few days after the Japanese forces landed in the Philippines, he launched an ambush against the Japanese troops in Laniton, Basud, on their way to Quezon coming from Legazpi, Albay.

He even successfully liberated the capital town of Daet, and occupied it for a couple of weeks during the war. This infuriated the invaders who launched an all-out assault against him, leading to his capture in his mountain lair in Labo. Despite the pleas of the top Filipino collaborators in the Japanese war government for him to cooperate with the invaders to spare his life, Vinzons courageously declined.

Wounded and tortured, he was paraded around the town to discourage his hundreds of armed supporters, and was reported to be taken to Manila, where he was no longer heard from. The date of death was placed on July 15, 1942, and his remains lie in an unlocated grave.

Outside his native town, Indan, which is now named Vinzons, and those living along the main street in Daet, Camarines Norte, that carries his name, Filipinos have no memory of this great patriot who sacrificed his life for the country. However, the embers of his undying patriotism is enkindled and kept burning in his beloved alma mater, UP, which rightfully named the students’ center, the Vinzons’ Hall, after this illustrious Father of Student Activism in the Philippines.

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A12 Friday, July 19, 2019

‘Hot money’ transactions revert to outflows in June

S

HORT-TERM investments made by foreign investors to the local market slumped to net outflows in the first half of the year as global investing sentiment paled due to trade war and domestic growth issues.

The Bangko Sentral ng Pilipinas (BSP) on Thursday reported a significant decrease in foreign

portfolio investments (FPI) to the country in January to June this year, for a total of $720.98 million

$720.98M

The total net outflows in foreign portfolio investments to the country in January to June this year, a reversal of the $322.87-million net inflows seen in the same six-month period last year in net outflows. This is a reversal of the $322.87-million net inflows seen in the same six-month period last year.

FPI are known as “hot” or “speculative” money because they are easily pulled in and out of the local platforms in the slight change of global and local sentiment.

This type of foreign investment is usually a measure of the global economy’s investing sentiment on the Philippines in short-term prospects for yields, in contrast to foreign direct investments (FDI), which are investments placed in the Philippines in search of longterm yield.

See “Hot money,” A2

CBCP’s broadcast franchise lapses into law

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HE measure seeking the franchise renewal of Catholic Bishops’ Conference of the Philippines (CBCP) Inc. for another 25 years has lapsed into law.

The bill lapsed into law after President Duterte did not act on the measure submitted by Congress after 30 days of receipt.

“Lapsed into law on April 22, 2019. Without the signature of the President in accordance with Article VI, Section 27 (1) of the

Constitution,” read the copy of Republic Act 11319 given to reporters on Thursday.

The bill lapsing into law paves the way for CBCP to continue to construct, install, establish, operate and maintain for religious, education, cultural, and commercial purposes and in the public interest, radio and or television broadcasting stations in the Philippines.

However, CBCP Inc. still needs to secure from the National Telecom-

munications Commission (NTC) the appropriate permits and licenses for construction and operation of its stations and facilities.

Aside from CBCP Inc.’s franchise, TV5 Network Inc.’s franchise was also renewed for another 25 years, among other franchise renewal bills that also lapsed into law.

It also lapsed into law on April 22 without the signature of the President.

In a Palace briefing on Thurs-

day, Malacañang shrugged off the President’s inaction on these bills which lapsed into law, saying the President, in effect, also gave his stamp of approval when he allowed this to happen.

“It means when he allowed it to lapse into law, these measures are okay for him. That means, effectively, it also seemed that he also signed it,” said Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo. Bernadette D. Nicolas

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CIDG FILES RAPS VS. ROBREDO, 37 OTHERS OVER ‘BIKOY’ VIDEOS T

HE Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) on Thursday filed criminal charges against several prominent political figures, including Vice President Leni Robredo as well as some lawyers and clergymen, for conniving to discredit and destabilize the Duterte administration.

In the letter-complaint, the PNP-CIDG recommended that the respondents be prosecuted for inciting to sedition, cyber libel, libel estafa, harboring a criminal and obstruction of justice.

Included among the respondents and named as witness is Peter Joemel Advincula, the confessed “Bikoy,” the hooded man in the “Ang Totoong Narcolist” videos which tagged some family members of President Duterte in illegal-drug activities.

Aside from Robredo, named as respondents are Sens. Risa Hontiveros-Baraquel and Leila M. de Lima, former Sen. Antonio F. Trillanes IV, “Otso Diretso” candidates Gary C. Alejano, Florin T. Hilbay, Romulo B. Macalintal, Jose Manuel I. Diokno, Paolo Benigno A. Aquino, Samira GutocTomawis and Lorenzo R. Tañada III; Archbishops Pablo Virgilio S. David and Socrates B. Villegas, Bishop Teodoro C. Bacani and Honesto F. Ongtioco, Bro. Armin Luistro, and clergy members Robert Reyes and Albert E. Alejo.

Also named respondents were former Integrated Bar of the Philippines President Abdiel Dan Elijah S. Fajardo, incumbent IBP President Egon Q. Cayosa, lawyers Minerva Ambrosio, Theodore O. Te, Serafin

Salvador and Philip Sawali.

The PNP-CIDG submitted the sworn statement of Advincula detailing his supposed meetings with the respondents and how they planned the so-called Project Sodoma.

Project Sodoma allegedly sought to publicly discredit the President and destabilize his government by implicating him, his family and other government officials in drug syndicates.

The project supposedly planned as early as August 2018 was also intended allegedly to derail the senatorial bid of the candidates under the Hugpong ng Pagbabago in the last election and at the same time prop up those from the opposition Otso Diretso.

PNP noted in the letter-complaint that the harboring of criminal/obstruction of justice complaint was committed in the Jesuit Communication Building, Philippine Province Society of Jesus, Ateneo de Manila University compound, among other places.

Advincula first surfaced at the office of the IBP on May 6 to ask for legal assistance to file charges against members of the syndicate he formerly belonged to.

However, he surrendered to the PNP later that month over estafa charges and tagged the Liberal Party to be behind “Project Sodoma.”

In a statement, the Department of Justice said Justice Secretary Menardo Guevarra will form a panel of state prosecutors to conduct a preliminary investigation on the complaint. Joel R. San Juan

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Pasig BIR exceeds June collection goal

Customs chief should also be held liable for bureau’s corruption–solons

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OLLOWING President Duterte’s announcement that 64 employees of the Bureau of Customs (BOC) will be fired for corruption, lawmakers on Thursday said Commissioner Rey Leonardo Guerrero should also be made accountable for the unabated corruption allegations in the revenuegenerating agency.

RDO Ranario commends his hardworking team at the BIR Pasig City.

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HE Bureau of Internal Revenue’s Revenue District Office-43 (Pasig City), headed

by Revenue District Officer Rufo B. Ranario, exceeded its June collection target of P3.17 billion by 0.94 percent, posting total collection of P3.203 billion.

RDO 43 also exceeded their year-on-year collection record.

Ranario said that the June 2019 collection was up by 25.17 percent (P3.203 billion) from the June 2018 tax collection of P2.55 billion.

Only Pasig City in Revenue Region 7-Quezon City reached and exceeded their target.

Aside from Pasig City, RR-7 also covers Novaliches, South QC, North QC, Cubao, Mandaluyong, San Juan, Marikina and Cainta/ Taytay.

RDO 43 said its tax collection for June was P29.76 million more than the P3.17-billion goal.

In a speech last July 15, Ranario thanked and commended the officials, men and women of RDO 43 for their effort to reach their target collection for the said month.

Ranario attributed the successful tax collection for the month to the approved zonal valuation and enforcement activities he implemented. Eunice Calma

Two leadership roles in associations

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N my March 8, 2017, column entitled “Association Governance Models,” I mentioned that there are two governance models for associations: the board governed-and-managed model or the so-called volunteer-run type; and the boardmanagement delineated model or the volunteer-driven, staff-run.

In the United States, the VDSR model, which is similar to that of a business enterprise, is predominant. In the Philippines, it is the VR, based on a preliminary survey by the Philippine Council of Associations and Association Executives (PCAAE).

There are advantages of the VDSR over the VR model. Among others, these include continuity, strategic positioning and resource efficiency, which have been amply covered in my previous column. There are two leadership roles in the VDSR model: the Chair of the Board and the CEO or head of management (Executive Secretary or Secretary General in the context of the Philippines). Based on my experience, below are the ideal traits of the chairman and the CEO:

For the chairman

n Committed to abide by the board’s fiduciary responsibility and to undertake with conviction the three core board duties: duty of skill, duty of diligence, and the duty to avoid conflict of interest; n Helpful in keeping the work of the board focused and in maintaining good relationships with fellow board members, the CEO and the management staff; n Active in advocating for the association’s purpose and mission, and in connecting with other key stakeholders (partners, suppliers, and government entities) of the organization; n Insightful in providing advice and guidance for the success and sustainability of the association; and n Resourceful in fund-raising and in generating new contacts and networks that will expand

Association World Octavio Peralta the reach of the association.

For the CEO:

n Communicate with confidence and ease the challenges that the association faces and the opportunities it has to enhance its brand and positioning in the marketplace; n Empower i ng t he a sso ciation’s staff to realize their abilities and potential to contribute to the success of the organization; and n Open to the ideas of others and to collaborate for the betterment of the association. n One of the hallmarks of a successful organization is the healthy and stable relationship between the board, represented by the chairman, and the management staff, represented by the CEO. A constructive and continuing dialogue between the chairman and the CEO is a must to keep the association’s purpose, mission and vision on track.

The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and the CEO and founder of the Philippine Council of Associations and Association Executives (PCAAE).

PCAAE is holding the Associations Summit 7 (AS7) on November 27 and 28, 2019, at the Philippine International Convention Center (PICC), which is expected to draw over 200 association professionals here and abroad. The two-day event is supported by ADFIAP, the Tourism Promotions Board and the PICC. E-mail inquiries@adfiap.org for more details on AS7.

Friday, July 19, 2019 A13

Parañaque City Rep. Joy Tambunting and Party-list Rep. Arlene Brosas of Gabriela said Guerrero as head of the BOC must face the same liability.

“The BOC is an agency known for corruption. The government must take decisive action in rooting out corruption in this agency.

Command responsibility should be observed,” said Tambunting.

Guerrero fired his own Chief of Staff Teodoro Jumamil following

allegations of corruption.

For her part, Brosas said the “commissioner should be directly liable for this [alleged corruption], but we all know that corruption is deeply ingrained in many of the agencies in government, especially in the BOC.” The problem, she added, “lies in the system of corruption. Even if the President replaces the BOC officials with members of the military, it will not resolve the

problem. The fight for corruption is having good, credible people of integrity in governance and a foolproof system against corruption.”

BOC Assistant Commissioner Jet Maronilla has said the bureau is ready to replace 64 employees whom Duterte wants fired on corruption allegations.

Last week Duterte said he will relieve the 64 employees of their duties pending investigation of their alleged corruption through the years. In a speech, he also urged these employees to resign lest they face charges.

Malacañang said the President has directed the “freezing” of these officials and employees, whose names will be disclosed at the appropriate time.

However, Palace Spokesman Salvador Panelo was quick to dismiss that Guerrero will be among those officials who will be fired.

Malacañang issued the statement as the BOC faces another controversy with the auction of over 110 bags of tapioca, which Sen. Panfilo Lacson tagged as a

BSP cites BDO as commercial bank that drew largest OFs remittances

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HE Bangko Sentral ng Pilipinas (BSP) has again recognized BDO Unibank’s role as a trusted partner of overseas Filipinos in sending their hardearned money to their loved ones back home. It bestowed on BDO the “Commercial Bank that Generated the Largest Overseas Filipino Remittances” Award during the recently held 2019 BSP Stakeholders Awards.

The strong remittance service of BDO, through BDO Remit, is already a Gold Hall of Fame awardee under the said category, as the bank won three straight “Commercial Bank that Generated the Largest Overseas Filipino Remittances” awards from 2013 to 2015.

The Gold Hall of Fame Award was conferred on BDO in 2016.

BDO also went on to win the same award in 2017 (announced during the 2018 BSP Stakeholders Awards). Should the bank obtain the award again next year, BDO will achieve the Diamond Hall of Fame recognition, a first-ever for a local bank.

In 2014, the board of judges of the BSP Stakeholders Awards ruled that a distinction should be given to partner stakeholders who have won as outstanding partners for several consecutive years. As such, Gold, Diamond and Platinum Hall of Fame Awards are granted to awardees who win in the same award category for three, six and nine consecutive years, respectively.

BDO was also adjudged the Commercial Bank that Generated the

cover-up for a botched drug delivery by corrupt Customs officials.

The BOC has earlier pointed out that only tapioca starch and not shabu was auctioned off at the Manila International Container Port in April.

Earlier, it was reported that BOC Spokesman and Davao Port district collector Dino Austria also said the Philippine Drug Enforcement Agency (PDEA) lied when it said the auction of a shipment that contained P1 billion worth of shabu was part of an entrapment.

The PDEA and the BOC found the abandoned shipment with the hidden illegal drugs in Malabon on March 5. PDEA Director General Aaron Aquino claimed the drugs came from the Golden Triangle syndicate.

Austria belied the claim of PDEA that it allowed the public auction of the drugs as part of its controlled delivery operation to lure members of the drug syndicates who may participate in the bidding. Jovee Marie N. Dela Cruz

InLife names Chief Strategy and Financial Officer

BONILLA NSULAR Life (InLife), the country’s largest Filipino-owned life insurer, has named Claro P. Bonilla as the company’s new chief strategy and financial officer with the rank of executive vice president.

Bonilla’sappointmentwasannounced by the company’s President and Chief Executive Officer, Mona Lisa B. de la Cruz, during the recent Annual Members’ Meeting at its Alabang headquarters.

Bonilla will lead the company’s Strategy and Financial Management Group.

In this capacity, he will be responsible for strategy development, finance, investment management, real property operations and enterprise risk management.

Bonilla is a seasoned executive with a solid senior financial management experience gained primarily from Citibank N.A., both in its domestic and international operations. He has a track record of implementing efficient financial operations resulting in business growth and savings in his various roles in the Philippines and overseas (Singapore, South Korea).

Immediately prior to joining Insular Life, he was chief operating officer of BPI Securities Corp., where he executed a number of initiatives that improved operations, product portfolio, customer experience and employee engagement.

I BDO executives join BSP officials at the 2019 BSP Stakeholders Awards. In photo (from left): BSP Monetary Board member and Chairman of the BSP Awards Board of Judges V. Bruce J. Tolentino; BDO Senior Vice President and Remittance Head Geneva T. Gloria; BDO President and CEO Nestor V. Tan; BDO Executive Vice President and Transaction Banking Head Edwin Romualdo G. Reyes; and BSP Governor and Monetary Board Chairman Benjamin E. Diokno. CONTRIBUTED PHOTO

Largest Overseas Filipino Remittances from 2008 to 2010.

Consistent leadership in remittance service

THROUGH its remittance arm, BDO has been at the forefront of providing overseas Filipinos various options and channels to send their money to their beneficiaries in the Philippines, anchored on its wide customer reach through its own offices abroad and partnership with various remittance companies and financial institutions across Asia, North America and Europe.

“We live in a multichannel world, and these channels have to work for the customer. And the bank who does that will be top of mind for the customer. This recognition from the BSP is proof of that. We offer overseas Filipinos a wide array of solutions to send money to their beneficiaries. In return, they have remained loyal to us,” said BDO Executive Vice President and Transaction Banking Head Edwin Romualdo G. Reyes. “We thank BSP for all these awards, and we hope to win again next year.”

BSP awards GCash for digital transformation and innovative mobile financial services

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OR its innovative and responsive digital financial services, the Bangko Sentral ng PIlipinas (BSP) recognized G-Xchange Inc. as its Outstanding Partner for Digital Transformation and Outstanding Partner for Innovative Financial Services for 2019.

On top of bagging the two awards, G-Xchange, the registered entity for GCash, was also a finalist for Outstanding Partner for Digital Excellence and Top Instapay Volume Contributor, which recognizes InstaPay participants that contributed significantly toward the realization of the BSP’s 20 percent by 2020 vision under the National Retail Payment System project.

The 16th Awards Ceremony and Appreciation Lunch for BSP Stakeholders, held on July, 10 recognized banking and nonbanking institutions that have supported the BSP’s initiatives and advocacy programs. This year’s theme was “One Team One Goal: Re-

silient Partnership Towards Inclusive Economic Growth.”

“This recognition from the BSP affirms our commitment to find ways to reach the unbanked, underserved Filipinos and to develop mobile platforms that will open access to financial services. In partnership with the government, we are confident that we can make growth more inclusive and more beneficial to the ordinary Filipino,” said Anthony Thomas, chief executive officer of Mynt, which counts G-Xchange as a subsidiary.

The Outstanding Partner for Digital Transformation Award cements GCash’s position as a leading mobile wallet that “delivers a suite of innovative technologies without compromising the security requirements and adopts a digital transformation strategy that seeks to improve process efficiency, cut operational costs and ultimately redefine the customer banking experience.”

V. BRUCE TOLENTINO (from left), BSP Monetary Board member; GCash officials Ian Camara, chief compliance officer; Greg Igaya, chief technology officer; JF Darre, chief data officer; and Chris Manguera, chief marketing officer; and BSP Governor Benjamin Diokno. CONTRIBUTED PHOTO

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In the ad material of Notice of filing of Application for Alien Employment Permits published on July 12, 2019, the Nationality of Mr. Dines, Scott Anthony under PRIME METRO BMD CORPORATION should have been read as Australian 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

Companies BusinessMirror

Editor: Efleda P. Campos

Villar’s All Home plans to raise ₧20.7 billion from IPO

By VG Cabuag @villygc

A

LL Home Corp., a home improvement retailer led by the country’s richest man Manuel B. Villar, plans to list at the Philippine Stock Exchange, aiming to raise some P20.7 billion from its initial public offering.

In its registration statement filed with the Securities and Exchange Commission (SEC), All Home said it is offering 1.12 billion new and secondary common shares with an over-allotment option of up to 168.75 million shares for up to P16 per share.

Of the IPO shares, 750 million will be new common shares while 375 million shares will be sold by Villar’s All Value Holdings Corp., a privately held firm that controls most of the family’s retail

ventures.

The over allotment shares will also be secondary shares from All Value Holdings.

The 1.12 billion firm offer shares will comprise 30 percent of the firm’s outstanding capital of 3.75 billion shares. Including the over allotment shares, the IPO will be equivalent to 34.5 percent of All Home’s outstanding capital.

Net proceeds from the primary offering amounting to P11.46 billion will be used by All Home for

capital expenditures and initial working capital to fund store expansion and for debt repayment.

Some 60 percent or P6.86 billion of the net proceeds will be used by All Home to fund its store network expansion, including site fit-out, furniture and fixtures, as well as initial inventory.

Breakneck speed

OVER the past years since Villar, a defeated presidential aspirant, took the helm at the family business, All Home has expanded its network in the country at breakneck speed.

“As part of our store network expansion, we plan to open up to 19 new stores in the second half of 2019 and up to 19 new stores in 2020. In addition, we are expanding A ll Home A labang to increase its net selling space from 5,845 square meters to approximately 12,340 square meters,” All Home said in its registration statement.

Meanwhile, about 40 percent or P4.57 billion of the net proceeds from the sale of primary shares will be used to repay outstanding

short-term and long-term financial obligations.

The loans were obtained from Union Bank, Security Bank, Philippine Business Bank and A ll Bank, and carry interest rates of 6.25 percent to 9 percent. These loans were obtained to fund various capital expenditures. As of March 31, 2019, the outstanding balance of loans was P4.6 billion.

“We intend to use the remainder of the proceeds from the sale of Primary Shares for general corporate purposes for existing stores,” it said.

Up to 20 percent of the firm’s shares will be offered in the Philippines through stock brokers and 10 percent to local small investors.

The remaining 70 percent will be offered to overseas investors.

It assigned UBS AG, Singapore branch as the sole global coordinator and joint international bookrunner, CLSA Ltd. and Credit Suisse (Singapore) Ltd., as the other joint international bookrunners; and China Bank Capital Corp. and PNB Capital and Investment Corp. as the local underwriters.

With its ₧1-B high-tech press line, Toyota’s CARS-enrolled unit now 58% locally made

By Elijah Felice E. Rosales @alyasjah

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OYOTA Motor Philippines Corp.’s (TMP) New Vios, its enrolled unit in the government’s vehicle production program, is now 58 percent locally made, as the firm has begun its production of side member panels.

TMP on Wednesday inaugurated its P1-billion high-technology press line that marks the start of the vehicle assembler’s onshore manufacturing of side member panels. The press line, which includes a 1,600 -ton ser vo ty pe press machine with automated sheet feeder and unloader robot, is TMP’s single largest localization project under the Comprehensive Automotive Resurgence Strategy (CARS) program.

Side member panels are the largest body shell parts, and their production requires extreme level of accuracy and quality forming due to their many contact points with other parts of the car body.

TMP had to invest in servo press technology to enable it to localize side member panels. Servo press technology offers a higher level of accuracy, formability and repeatability, versus the mechanical press commonly used for metal stamping by automotive firms.

TMP is the first to make use of this kind of press technology among vehicle assemblers in the Philippines.

The operationalization of the servo press technology raises TMP’s in-house parts manufacturing capability. The P1-billion high-technology press line has a yearly pro-

duction capacity of 66,000 units.

As it complements TMP’s existing mechanical press line and well out house press parts production, the localization of the side member panels made the New Vios 58 percent locally made—higher than the CARS program requirement of 50 percent.

The New Vios is one of the two enrolled units under the CARS program. Vehicle assemblers participating in the program receive fiscal support of up to P9 billion from the government in exchange for local production of 200,000 units in a span of six years of their enrolled units.

TMP President Satoru Suzuki said the local manufacturing of side member panels—which was only an aspiration in 2016—is a milestone for the firm, as well as for the local

automotive industry.

“Today, we mark another milestone not only for TMP, but for the Philippine automotive manufacturing industry as well. We now have the capability to produce the largest body shell part with high productivity, better energy efficiency and lower maintenance costs,” Suzuki said at the inaugural ceremony of the press line.

In 2017 TMP put up a P700-million resin injection molding facility that has an annual production capacity of 66,000 units in support of its localization for the CARS program.

The CARS program-supported New Vios is TMP’s best-selling passenger car in the Philippines.

TMP, for its part, is the industry’s market leader with a share of over 40 percent in sales.

PLDT unveils Smart 5G Alliance Megaworld unit opens

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IGITAL services provider PLDT Inc. on Thursday introduced the so-called Smart 5G Alliance, a partnership among global technology experts, academe, businesses, and government to accelerate the development of 5G innovations in the Philippines.

Composed of Cisco, Ericsson, Fujitsu, Huawei, Microsoft, Nokia, Palo Alto, SMS Global Technologies, Araneta Center, the Ateneo de Manila University and the Clark Development Corp., the 5G Alliance will help in the research and development of various 5G products, especially in the enterprise side.

“We remain committed to growing the 5G alliance so that we may bring the network’s use cases across platforms, in the hope that this will bring real value to the Filipino public,” Juan Vic-

tor I. Hernandez, who heads PLDT Enterprise, said on Thursday.

He added that forming the alliance is in line with the group’s 5G strategy. Already, PLDT Enterprise has powered up 5G sites in the Clark Freeport Zone, Makati City, Ateneo de Manila University and Amanita Center in Cubao.

Its existing partnership with Clark involves the development of solutions for smart cities, or areas where services and machines are interconnected via the Internet, and can be operated through a smartphone. Services include security, parking and disaster response.

“Ultimately, all our endeavors are aimed at uplifting the lives of our customers through relevant and pertinent solutions,” Hernandez said.

Lorenz S. Marasigan

Belmont Hotel Boracay

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ROPERTY developer Megaworld Corp. on Thursday said its unit Global-Estate Resorts Inc. has opened its second hotel development inside the 150-hectare Boracay Newcoast.

The P2.1-billion Belmont Hotel Boracay is a three-tower hotel located within the sloping area of the estate just beside Savoy Hotel Boracay, and overlooking the eastern beach of Boracay Island.

The hotel features 442 rooms with choices of deluxe twin or queen, premier deluxe and executive suites, with sizes ranging from 27 square meters to 52 square meters.

“Our second hotel under the Belmont brand will offer an exclusive nature experience in the paradise island of Boracay, as it allows guests to see the island’s panoramic natural scenery from one building to another—from the vast sea to the lush mountains and hills of the island and other nearby islands,” said Raymundo Melendrez, managing director, Luxury Global Hotels and Leisure Inc., the company operating Belmont Hotels under the Megaworld Hotels Group.

“Our continuing thrust to help boost tourism in the country is even gaining more momentum as we open more hotels across our tourism townships. Geri, as the developer of Boracay Newcoast, remains committed to help build our country through tourism developments,” Geri President Monica Salomon said.

Belmont Hotel is the second homegrown hotel brand introduced under Megaworld Hotels. The first was opened in Newport City in 2015. Another one is set to open in Iloilo Business Park by 2023.

To date, Megaworld Hotels has already opened five homegrown brands including Richmonde, Belmont, Savoy, Twin Lakes and Hotel Lucky Chinatown with close to 3,000 hotel rooms. In the next five years, the company will also open new homegrown hotel brands in Parañaque, Bacolod, Iloilo, Boracay and Laguna.

During the first quarter of 2019, Megaworld’s hotel business became the fastest-growing segment of the quarter to P574 million, a 56-percent increase from last year’s P368 million. VG Cabuag

Friday, July 19, 2019

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Meralco seeks ERC okay of P15.2-B capex for 2020

By Lenie Lectura

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@llectura

HE Manila Electric Com. (Meralco) has asked the Energy Regulatory Commission (ERC) to approve over P15.19 billion in capital expenditure (capex) for 2020 to jumpstart 71 crucial projects that are critical to the utility firm’s distribution system.

In its nine-page application, Meralco proposed to implement 21 “very urgent” projects worth P10.458 billion and 50 residual projects worth P4.732 billion.

“There is an urgent need for a provisional authority to be issued in favor or Meralco to allow it to immediately implement its proposed very urgent Regulatory Year 2020 capex program,” said Meralco.

“Non-approval of the capex projects will severely hamper Meralco’s operations and severely affect its ability to deliver electric service to its customers.

It is very imperative for Meralco to implement its very urgent RY 2020 capex projects starting July 1, 2019, for the expansion and rehabilitation of its network facilities through an acquisition of new assets in order to ensure continuous delivery of reliable service and comply with safety, performance and other regulatory requirements, while addressing the growing needs of its more than 6 million customers,” said Meralco.

The most expensive project is earmarked at P1,787,723,825 for distribution transformers, followed by P1,418,185,169 worth of poles, towers and fixtures and P1,277,646,942. worth of overhead conductors and devices.

Meralco’s proposed 71 projects are necessary to ensure the reliable operation of its distri-

bution network and continuous distribution service and connection to meet the growing needs of customers.

Meralco expects its customer base to grow to 7 million and peak demand to increase to 7,750 megawatts by RY 2020. These upward adjustments require Meralco to increase the capacity of its electric distribution system in order to continue accommodating customer connections.

“If no capacity augmentation project has been undertaken starting July 1, 2019, Meralco would not be able to provide electric service to its existing and new customers,” it said.

Power outage

ME A N W HILE, more than 250,000 customers of Meralco experienced power interruption Thursday morning mainly due to a technical glitch inside the utility firm’s substation.

Meralco said “a fault” occurred inside the Gardner substation, which resulted in the interruption of four of its downstream substations in Taguig, Urdaneta, Kamagong and BGC at around 10:53 a.m.

As a result, some parts of Makati, Manila, Pasay, Pasig, Pateros, San Juan and Taguig City experienced power interruption. This affected 258,997 customers situated in Makati and FBGC Business Districts and other surrounding areas.

Power was restored at 11:34 a.m.

“Our crews responded immediately and all affected circuits and power supply were restored at 11:34 a.m. Currently, our crews are still in our Gardner Substation to investigate this incident,” said Meralco Spokeman Joe Zaldarriaga, adding that the cause of the outage has yet to be determined.

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PSE STOCK QUOTATIONS

July 18, 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 PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58.5 147.8 92 27.6 12.58 77.4 53.9 58.2 115 27.5 186 59.9 1.2 2.33 18.6 4.7 1.34 0.465 753 1.02 191 1,755

58.9 147.9 92.05 27.65 12.6 77.45 54 58.4 116 27.55 187.4 60 1.21 2.37 18.7 4.8 1.37 0.475 795 1.03 194 1,800

58.5 147.9 90 27.6 12.64 77 55 58.05 115 27.5 182.1 60.5 1.2 2.34 18.6 4.79 1.39 0.465 789.5 1.01 194.9 1765

58.9 150 92.35 27.65 12.74 78.5 55.45 58.4 115 27.6 187.5 61.95 1.21 2.36 18.7 4.8 1.39 0.465 789.5 1.03 195 1,810

58.5 147.7 90 27.5 12.52 76.85 53.9 58.05 115 27.5 182.1 60 1.2 2.32 18.6 4.65 1.37 0.465 789.5 1 189.5 1,755

58.9 147.8 92 27.65 12.58 77.4 54 58.4 115 27.5 187.4 60 1.21 2.36 18.7 4.8 1.37 0.465 789.5 1.02 194 1,810

22,210 1,113,870 8,065,310 95,700 659,800 2,207,680 213,910 2,130 300 27,400 395,070 16,980 121,000 596,000 4,600 96,000 4,000 100,000 50 352,000 510 260

1,302,285 165,259,838 741,051,616 2,642,230 8,331,752 171,010,277.5 11,702,760 124,193.5 34,500 754,000 73,656,726 1,022,766 146,340 1,402,530 85,780 451,340 5,500 46,500 39,475 355,800 98,875 459,700

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE 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 SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.34 37.2 0.27 26.4 90.1 378.8 24.55 5.81 4.75 2.55 11.82 39.5 6.5 16.1 14.24 16.1 14.8 6.22 10.34 7.53 103.5 0.81 60.15 279.8 9.06 14.2 0.191 1.73 14.46 1.46 5 2.1 0.128 169.1 1.31 2.51 83.2 93 2.8 5.32 15.18 11.1 14.3 18.56 9.2 1.17 1.38 115.6 2.02 1.7 41 2.32 9.61 1.68 5.68 1.13 17.46

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

0.99 17.7 945.5 56.5 15.58 3.97 6.96 0.73 1.28 1.31 7.16 10.5 14.1 0.223 928.5 6.45 69.2 6.05 0.52 4.6 15.64 0.64 2.61 4.75 0.039 1.66 2.82 1.37 985 175.1 0.82 262 0.238 0.295

1.35 37.25 0.275 26.5 90.15 379 24.6 5.83 4.8 2.56 12.06 39.7 6.51 16.94 14.32 16.7 14.98 6.26 10.36 7.54 104.9 0.82 60.5 280 9.28 14.24 0.195 1.75 14.6 1.48 5.09 2.27 0.129 169.5 1.32 2.53 83.4 94.4 2.81 5.5 15.2 11.14 14.34 18.58 9.3 1.18 1.39 115.8 2.04 1.73 41.75 2.35 9.64 1.7 5.76 1.14 17.5

1.34 37.5 0.265 26.3 90.2 378.6 24.6 5.85 4.84 2.59 12 39.9 6.51 16.1 14.46 16.7 14.72 6.3 10.3 7.5 104 0.83 60.9 282 9.1 14.42 0.186 1.79 14.8 1.45 5.09 2.11 0.129 171 1.29 2.53 83.2 95 2.78 5.5 15.46 11.1 14.1 18.62 9.2 1.15 1.41 115.8 2.04 1.71 41 2.44 9.5 1.7 5.76 1.1 18.5

1.34 37.5 0.275 26.5 90.6 383 24.65 5.9 4.84 2.6 12.06 39.95 6.6 16.1 14.48 16.7 15.1 6.3 10.4 7.55 104.9 0.83 60.9 282 9.28 14.46 0.197 1.8 14.8 1.48 5.1 2.3 0.129 171.4 1.32 2.53 85 95 2.85 5.5 15.66 11.2 14.38 18.62 9.2 1.19 1.41 117.2 2.04 1.71 41 2.45 9.74 1.7 5.76 1.14 18.98

1.33 37 0.265 25.75 90.1 378.6 24.5 5.81 4.81 2.52 11.8 39.4 6.5 16.1 14.24 16.48 14.72 6.26 10.3 7.5 102 0.82 59.1 279.4 9.06 14.1 0.186 1.72 14.46 1.45 4.9 2.11 0.129 168.8 1.28 2.53 83 93 2.78 5.32 15.2 11.1 13.9 18.5 9.2 1.15 1.38 108.1 2.02 1.71 41 2.32 9.5 1.68 5.76 1.1 17.3

1.33 37.2 0.275 26.5 90.1 379 24.6 5.81 4.81 2.55 12.06 39.5 6.51 16.1 14.32 16.7 14.8 6.26 10.34 7.54 104.9 0.82 60.5 280 9.28 14.2 0.196 1.73 14.46 1.47 5.09 2.3 0.129 169.1 1.31 2.53 83.2 94.4 2.81 5.32 15.2 11.1 14.34 18.58 9.2 1.18 1.39 115.8 2.04 1.71 41 2.35 9.61 1.7 5.76 1.14 17.5

16,000 2,596,200 2,600,000 2,261,300 151,670 99,270 1,771,100 1,384,700 37,000 8,363,000 58,300 137,800 140,300 400 564,200 3,800 728,400 27,200 1,072,600 45,500 266,040 1,133,000 340,380 330,400 1,400 279,600 940,000 7,162,000 97,300 740,000 208,000 284,000 50,000 344,490 7,369,000 14,000 5,640 990 2,362,000 74,400 488,900 161,600 166,600 647,000 5,600 259,000 1,899,000 1,400 76,000 1,000 58,800 5,510,000 156,800 278,000 63,000 99,000 1,729,800

21,290 96,566,630 695,500 59,451,070 13,689,935.5 37,626,574 43,515,260 8,099,881 178,250 21,381,270 ( 699,730 5,465,800 913,821 6,440 8,148,828 63,330 10,832,280 170,728 11,112,744 341,529 27,495,604 934,040 20,457,789.5 92,683,352 12,718 3,982,188 182,510 12,548,230 1,427,358 1,085,780 1,029,407 624,660 6,450 58,314,351 9,587,950 35,420 469,800 93,157 6,625,870 399,329 7,444,218 1,795,766 2,347,636 12,015,644 51,520 304,080 2,635,240 162,057 154,520 1,710 2,410,800 13,025,250 1,507,518 468,310 362,880 111,040 31,151,478

HOLDING & FRIMS 1 17.72 948 57 15.7 3.98 7 0.74 1.29 1.32 7.18 10.52 14.18 0.238 930 6.49 69.9 6.4 0.53 4.61 15.82 0.65 2.89 4.76 0.04 1.68 2.93 1.41 990 175.8 0.84 263 0.245 0.3

0.99 15.52 942 56.35 15.64 4 7 0.76 1.29 1.31 7.18 10.5 14.04 0.238 914 6.45 69.5 6.36 0.52 4.6 15.94 0.65 2.61 4.75 0.04 1.74 2.9 1.4 980 175.6 0.83 260.2 0.237 0.295

1.01 18.98 949.5 57.15 15.74 4.01 7.01 0.76 1.31 1.32 7.2 10.58 14.18 0.238 930 6.49 69.95 6.39 0.53 4.64 15.98 0.66 2.61 4.76 0.04 1.75 2.93 1.4 1,000 176.9 0.85 264.4 0.246 0.3

0.98 15.3 940 56.35 15.48 3.85 7 0.74 1.28 1.31 7.14 10.46 13.9 0.238 914 6.41 69.15 6.36 0.51 4.59 15.64 0.63 2.61 4.72 0.039 1.63 2.85 1.38 980 175.1 0.82 260.2 0.237 0.29

1 17.7 948 56.5 15.58 3.97 7 0.74 1.29 1.32 7.18 10.5 14.18 0.238 930 6.49 69.9 6.39 0.52 4.6 15.64 0.65 2.61 4.75 0.039 1.68 2.93 1.38 985 175.1 0.84 263 0.245 0.3

11,038,000 1,079,900 240,180 963,450 3,069,300 2,600,000 156,900 65,000 709,000 146,000 4,356,000 1,017,100 41,200 10,000 120,300 403,200 814,500 6,700 132,000 830,000 1,597,000 712,000 2,000 10,601,000 33,700,000 4,472,000 67,000 25,000 72,860 539,920 230,000 3,460 2,930,000 1,750,000

10,944,370 18,288,408 227,220,575 54,671,706.5 47,741,554 10,247,950 1,098,336 48,130 914,040 191,310 31,247,239 10,686,754 579,154 2,380 111,572,210 2,609,329 56,750,804.5 42,759 68,130 3,819,490 25,250,726 453,390 5,220 50,332,650 1,324,700 7,563,950 192,080 34,900 71,785,910 94,800,883 191,620 903,214 711,340 510,900

294,500 15,927,531 414,739,267 (161,775) (2,083,100) 19,290,158.5 258,152.5 (599,800) 51,987,231 (762,762) (3,740) (3,060) (9,745) 1,256,165 3,477,150 (4,608,841.5) (17,430,198) (4,039,055) (1,055,587) 317,250.0002) (2,757,565) 130,200 553,450 (8,173,882) (26,980) 6,688,584 96,708 (630,858) 10,537,251.5 (39,896,132) 2,081,424 (27,460) (4,591,870) (179,966) (87,600) (122,770) (8,633,420) 8,950 (2,544,020) (2,030,168) (5,610) (536,238) (280,368) 118,010 (30,580) (0) (214,850) (281,079) 275,984 (792,000) (295,476) 79,610,745 (25,262,486) 2,675,062 271,610 (669,936) 655,071 (2,027,996) (129,316) 26,646,450 (2,596,349) 11,077,237 (694,440) (7,475,608) 10,478,040 (35,590) (6,899.9999) 24,530,065 (5,206,572) (101,778) -

PROPERTY

ARTHALAND CORP 1.04 1.07 1.09 1.09 1.03 1.07 10,093,000 10,658,930 219,280 ANCHOR LAND 10.64 11.38 11 11.4 10.62 11.38 1,500 16,464 AYALA LAND 52.3 52.35 52.2 52.5 52.1 52.35 10,337,980 540,514,795.5 9,665,838.5 BELLE CORP 2.33 2.34 2.32 2.34 2.32 2.34 35,000 81,570 (51,350) A BROWN 0.87 0.88 0.9 0.9 0.87 0.88 3,250,000 2,879,240 (27,800) CITYLAND DEVT 0.91 0.92 0.92 0.92 0.92 0.92 2,000 1,840 CROWN EQUITIES 0.241 0.243 0.243 0.243 0.242 0.242 4,130,000 1,002,320 142,780 CEBU HLDG 6.09 6.2 6.1 6.2 6.08 6.2 21,200 129,270 (93,360) CEB LANDMASTERS 5.26 5.28 5.25 5.38 5.2 5.26 3,793,900 20,064,663 470,052 CENTURY PROP 0.62 0.63 0.63 0.65 0.62 0.63 26,633,000 16,869,290 696,330 CYBER BAY 0.47 0.485 0.48 0.5 0.465 0.47 4,200,000 1,994,250 14,200 DOUBLEDRAGON 25.05 25.2 25.2 25.25 24.85 25.2 103,200 2,589,900 911,415 DM WENCESLAO 9.76 9.77 9.9 9.9 9.77 9.77 246,600 2,417,462 (637,919) EMPIRE EAST 0.475 0.48 0.48 0.49 0.475 0.475 9,640,000 4,611,700 (3,183,800) EVER GOTESCO 0.127 0.133 0.133 0.133 0.133 0.133 100,000 13,300 FILINVEST LAND 2 2.01 1.98 2.02 1.96 2.01 65,599,000 130,796,750 9,340,430 GLOBAL ESTATE 1.4 1.41 1.4 1.41 1.39 1.4 2,263,000 3,164,790 8990 HLDG 15.86 15.88 15.8 15.9 15.78 15.86 66,500 1,052,164 (190,426) PHIL INFRADEV 1.73 1.74 1.74 1.75 1.71 1.73 2,282,000 3,928,510 CITY AND LAND 0.81 0.84 0.81 0.83 0.81 0.83 145,000 119,290 98,600 MEGAWORLD 6.24 6.25 6.25 6.36 6.24 6.25 9,037,300 56,725,137 7,722,192 MRC ALLIED 0.37 0.375 0.355 0.375 0.355 0.37 81,930,000 30,095,500 (192,100) PHIL ESTATES 0.5 0.51 0.51 0.54 0.5 0.51 25,810,000 13,417,610 (770,620) PRIMEX CORP 2.13 2.14 2.13 2.14 2.1 2.14 684,000 1,447,470 ROBINSONS LAND 27 27.1 26.4 27.1 26.3 27 1,278,900 34,246,490 13,580,555 PHIL REALTY 0.415 0.42 0.43 0.43 0.415 0.415 620,000 259,600 21,000 ROCKWELL 2.27 2.28 2.27 2.29 2.26 2.29 206,000 468,570 40,910.0001 SHANG PROP 3.16 3.19 3.19 3.2 3.19 3.2 50,000 159,920 STA LUCIA LAND 2.08 2.09 2.03 2.08 2.03 2.08 502,000 1,038,740 (80,420) SM PRIME HLDG 38.3 38.4 38.95 38.95 38.3 38.3 6,807,000 261,988,685 (29,105,135) STARMALLS 6.32 6.35 6.35 6.4 6.3 6.32 120,300 764,811 (31,600) SUNTRUST HOME 0.81 0.83 0.81 0.85 0.81 0.81 624,000 506,010 VISTA LAND 7.76 7.79 7.84 7.87 7.65 7.79 14,601,200 113,367,926 (43,001)

SERVICES ABS CBN 17.34 17.4 17.44 17.6 17.28 17.34 340,100 5,907,124 GMA NETWORK 5.4 5.41 5.39 5.41 5.38 5.4 54,900 296,297 MANILA BULLETIN 0.53 0.55 0.54 0.55 0.53 0.55 162,000 87,650 GLOBE TELECOM 2,210 2,230 2212 2,232 2,182 2,230 50,580 112,573,740 74,340,850 PLDT 1,180 1,188 1200 1,200 1,176 1,180 177,225 209,434,355 (65,751,165) APOLLO GLOBAL 0.048 0.049 0.05 0.05 0.046 0.049 16,350,000 779,150 DFNN INC 6 6.41 6 6.3 6 6.3 39,300 238,197 (99,600) IMPERIAL 1.84 1.94 1.9 1.93 1.85 1.85 49,000 94,040 ISLAND INFO 0.119 0.121 0.117 0.121 0.117 0.121 880,000 104,760 ISM COMM 5.75 5.76 5.79 5.81 5.68 5.75 2,007,400 11,534,771 (209,766) NOW CORP 2.57 2.58 2.59 2.62 2.52 2.57 3,170,000 8,203,000 (420,460) TRANSPACIFIC BR 0.36 0.365 0.36 0.36 0.36 0.36 2,730,000 982,800 36,000 PHILWEB 4.19 4.2 4.3 4.3 3.9 4.19 7,543,000 31,056,930 (3,356,920) 2GO GROUP 11.08 11.1 11.06 11.1 11.06 11.1 16,100 178,650 1,110 CHELSEA 7.84 7.85 8 8.07 7.8 7.84 1,783,100 14,090,072 (227,360) CEBU AIR 95.35 95.4 95.5 95.75 95.3 95.4 215,220 20,529,919.5 14,603,816 INTL CONTAINER 142 142.7 141.5 145 141.2 142.7 703,080 100,304,216 33,847,455 LORENZO SHIPPNG 0.89 0.9 0.88 0.89 0.88 0.89 182,000 160,980 MACROASIA 19.48 19.5 19.46 19.52 19.44 19.5 407,300 7,934,354 973,382 METROALLIANCE A 1.5 1.64 1.51 1.51 1.5 1.5 29,000 43,750 METROALLIANCE B 1.54 1.58 1.54 1.54 1.54 1.54 3,000 4,620 PAL HLDG 9.4 9.42 9.39 9.43 9.39 9.42 63,600 598,537 HARBOR STAR 2.2 2.21 2.21 2.21 2.16 2.2 1,793,000 3,930,860 65,900 ACESITE HOTEL 1.49 1.51 1.43 1.51 1.42 1.51 434,000 650,330 BOULEVARD HLDG 0.062 0.064 0.062 0.064 0.06 0.064 40,960,000 2,555,460 (308,180) WATERFRONT 0.86 0.87 0.84 0.88 0.83 0.87 14,727,000 12,639,010 86,000 CENTRO ESCOLAR 7.03 7.19 7.19 7.19 7.19 7.19 200 1,438 IPEOPLE 9.54 9.7 9.7 9.7 9.52 9.52 27,400 261,200 STI HLDG 0.79 0.8 0.8 0.8 0.78 0.8 4,655,000 3,679,140 1,076,000 BERJAYA 2.59 2.6 2.55 2.62 2.55 2.59 350,000 905,710 BLOOMBERRY 11.9 11.92 11.9 11.96 11.78 11.9 4,382,300 52,018,338 (25,526,954) PACIFIC ONLINE 2.98 2.99 2.97 2.98 2.95 2.98 61,000 181,020 LEISURE AND RES 3.81 3.86 3.82 3.88 3.71 3.8 417,000 1,590,900 (826,640) MANILA JOCKEY 3.73 3.78 3.8 3.95 3.75 3.78 332,000 1,282,330 PH RESORTS GRP 5.25 5.35 5.25 5.35 5.25 5.35 31,400 164,880 PREMIUM LEISURE 0.73 0.74 0.74 0.75 0.73 0.74 3,734,000 2,757,890 (243,300) TRAVELLERS 5.49 5.52 5.5 5.52 5.43 5.49 980,400 5,399,129 (2,388,884) METRO RETAIL 2.75 2.76 2.85 2.85 2.75 2.76 2,195,000 6,095,600 ( 591,260.0001) PUREGOLD 45.25 45.3 45.55 46 45.25 45.3 1,681,000 76,223,330 (4,119,965) ROBINSONS RTL 77 77.55 75.6 77.8 75.6 77 225,770 17,365,232 4 ,305,055.9996 PHIL SEVEN CORP 142 143 141 142 141 142 19,790 2,802,530 301,040 SSI GROUP 3.42 3.44 3.6 3.63 3.38 3.42 12,743,000 44,120,590 7,794,140 WILCON DEPOT 15.7 15.72 16.36 16.36 15.68 15.7 13,000,200 206,037,754 (48,116,194) APC GROUP 0.56 0.57 0.55 0.56 0.54 0.56 5,498,000 3,049,650 (56,000) EASYCALL 10.08 10.24 10.38 10.38 10 10.22 46,100 467,962 GOLDEN BRIA 427 428.4 427.6 427.8 427 427.8 80 34,190 IPM HLDG 5.7 5.75 5.75 5.75 5.7 5.75 15,500 88,825 PRMIERE HORIZON 0.82 0.83 0.83 0.84 0.81 0.82 32,348,000 26,629,620 453,829.9998 SBS PHIL CORP 9.18 9.4 9.18 9.28 9.18 9.28 1,415,300 13,133,964 (13,038,400)

MINING & OIL ATOK 13.64 14 14.84 14.84 13.58 14 36,600 504,410 APEX MINING 1.2 1.21 1.23 1.25 1.19 1.2 5,433,000 6,631,570 (1,138,460) ABRA MINING 0.0016 0.0017 0 0.0017 0.0017 0.0016 0.0016 244,000,000 398,800 ATLAS MINING 2.7 2.78 2.71 2.71 2.7 2.7 10,000 27,020 COAL ASIA HLDG 0.28 0.285 0.28 0.28 0.28 0.28 620,000 173,600 28,000 CENTURY PEAK 2.8 2.83 2.8 2.84 2.78 2.84 169,000 475,190 DIZON MINES 7.82 7.83 7.83 7.83 7.63 7.82 1,900 14,614 FERRONICKEL 1.46 1.47 1.47 1.48 1.45 1.47 20,831,000 30,621,000 (304,370) GEOGRACE 0.219 0.222 0.22 0.223 0.218 0.222 1,330,000 293,580 LEPANTO A 0.107 0.108 0.108 0.109 0.108 0.108 1,840,000 198,730 LEPANTO B 0.118 0.121 0.118 0.12 0.118 0.12 90,000 10,740 MARCVENTURES 1.17 1.19 1.17 1.24 1.16 1.18 767,000 915,530 NIHAO 1.08 1.09 1.06 1.09 1.06 1.08 238,000 256,880 NICKEL ASIA 2.4 2.43 2.33 2.44 2.33 2.43 11,113,000 26,792,700 (2,175,430) ORNTL PENINSULA 0.85 0.87 0.86 0.87 0.85 0.87 393,000 334,380 PX MINING 3.78 3.79 3.85 3.85 3.74 3.78 574,000 2,182,700 2,540 SEMIRARA MINING 23.75 23.8 23.5 23.8 23.35 23.75 1,162,100 27,510,980 1,274,545 UNITED PARAGON 0.0063 0.0066 0 0.0063 0.0063 0.0063 0.0063 2,000,000 12,600 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 32,400,000 389,200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 600,000 7,200 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 11,000,000 121,000 PHINMA PETRO 5.71 5.75 6.1 6.42 5.7 5.71 2,406,400 14,477,813 PXP ENERGY 9.25 9.26 9.15 9.58 9.15 9.26 5,070,800 47,326,178 750,196

PREFFERED

HOUSE PREF A 97.3 98.8 97.5 99 97.5 97.5 5,460 538,726 AC PREF B2 490 493 493 493 492 492 28,510 14,026,930 ALCO PREF B 100 101 101 101 101 101 800 80,800 ALCO PREF C 100 102.9 100 100 100 100 500 50,000 DD PREF 99.1 99.5 99.5 99.5 99.1 99.5 2,100 208,198 SMC FB PREF 2 980 991 988 990 988 990 880 870,500 FGEN PREF G 102.1 103 105.5 105.5 102.1 103 15,240 1,561,545 83,030 FPH PREF C 420.2 450 449.8 450 449.8 450 40 17,996 GLO PREF P 485 499 498 498 498 498 980 488,040 GTCAP PREF B 920 944 940 945 940 945 20 18,850 LR PREF 0.98 1 0.99 0.99 0.99 0.99 372,000 368,280 (99,000) PNX PREF 3A 100 101.8 101.2 101.2 100 100 22,640 2,264,495 PNX PREF 3B 105 107.5 107.5 107.5 107.5 107.5 30 3,225 PCOR PREF 2A 990 993 993 993 993 993 530 526,290 PCOR PREF 2B 1,000 1,014 1000 1,000 1,000 1,000 5 5,000 PCOR PREF 3A 1,010 1,011 1011 1,011 1,010 1,011 6,255 6,323,705 PCOR PREF 3B 1,012 1,014 1012 1,014 1,012 1,014 555 561,670 SMC PREF 2C 76.3 76.7 76.9 76.9 76.5 76.7 3,880 297,868.5 SMC PREF 2D 73.85 74 73.85 73.85 73.5 73.85 8,000 590,100 SMC PREF 2E 75 75.5 74 75 73 75 66,310 4,916,120 SMC PREF 2F 75 75.65 75 75 75 75 33,300 2,497,500 SMC PREF 2G 73.5 74.95 74.45 75 74.45 75 13,620 1,018,769.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.72 5.3

16.8 5.37

16.8 5.37

16.8 5.37

16.72 5.37

16.8 5.37

283,800 10,400

4,767,790 55,848

WARRANTS LR WARRANT

1.81

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.37 XURPAS 1.11

1.85

1.86

1.87

1.81

1.81

510,000

933,610

18,200

5.39 1.12

5.4 1.13

5.4 1.13

5.17 1.1

5.37 1.11

495,800 2,437,000

2,616,978 2,709,910

(206,410)

EXHANGE TRADE FUNDS FIRST METRO ETF

123.6

(4,767,790) (55,848)

123.8

124

124

123.6

123.8

3,260

403,989

(1,236)

www.businessmirror.com.ph

7-Eleven PHL operator hikes capex 25%, eyes to duplicate Japan’s Seven Bank

P

By VG Cabuag

@villygc

HILIPPINE Seven Corp., the holder of the master franchise of 7-Eleven stores in the country, said it is spending some P3.5 billion in capital expenditures this year, or 25 percent higher than last year’s budget, mostly for putting up more stores and renovating existing ones.

It is also in talks with banks for a plan to set up white automated teller machines in its stores, or the same ones being operated in Japan called Seven Bank, the largest ATM operator in the world.

Lawrence M. de Leon, the company’s head of finance, said twothirds of the capex amount will go to open new stores, some 20 percent to support its new product launches such as the fried chicken that will be cooked off-site and brewed cof-

fee; while the remaining will be for renovation of some of its stores.

Last year, its capex was about P2.8 billion, he said.

“We will remodel some 100 of our stores aged six to seven years old, while we are building 300 new stores for the year,” de Leon said.

Last year, coffee sales dispensed through its machines rose 31 percent, while it is offering its own line of fried products, which it is cooking off-site, and has rolled these out in

Tugade orders LTFRB to allow hatchbacks as TNVS providers

By Lorenz S. Marasigan

T

@lorenzmarasigan

RANSPORTATION Secretary Arthur P. Tugade ordered the Land Transportation Franchising and Regulatory Board (LTFRB) to honor its memorandum circular that allows hatchback vehicles to operate as transport network vehicle service (TNVS) providers.

In a statement sent to the media on Thursday, Tugade ordered the quick implementation of Memorandum Circular (MC) 2018-005 “upon hearing explanations from relevant transport officials and stakeholders concerning the matter.”

“Implement the existing MC until such time that the same is modified and/or amended,” Tugade said. “If we have to amend the document, then amend it. If it has to be improved, then we have to improve it.”

The memo, issued in 2018, allows hatchback units that were included in the 55,000-TNVS master list to operate as public transport for a period of three years, which is known to be a “transition period.” They are, likewise, required to charge a lower fare.

However, only hatchback units that were among the 55,000 units in the master list and whose applications were filed from March 5 to December 15, 2018, were entitled to the benefit granted by MC 2018-005.

Transportation Assistant Secretary Goddes Hope O. Libiran noted that Tugade’s office is currently drafting a department order that will amend the regulator’s memo.

“The department order permanently allowing hatchbacks to become a legitimate transport mode is already in the process of amendment,” she said in a text message.

Transportation Undersecretary Mark Richmund M. de Leon noted that the Philippines has to be forward-looking in developing its transportation industry, and should be able to follow global trends and implement international best practices to provide better services to Filipinos.

“In bigger metropolitan areas like London and Tokyo, hatchbacks are allowed to operate as public transport. If first-world countries and cities allow it, why can’t we? These vehicles are more fuel-efficient and, thus, are good for the environment,” he said.

De Leon added that introducing hatchbacks in public transport will benefit the public, as they are required to charge lower fares than the normal TNVS sedan.

“We are giving commuters their transport options. If the commuter wants a more affordable commute, then he can book for a hatchback,” he explained.

He added that the LTFRB should give priority to TNVS units that were delisted from the master list.

“We have to give priority to those who were removed from the list because they were the ones who have already invested in the service.

While we recognize that we have to open new slots, we should not take for granted those who were already in the previous list,” de Leon said.

The LTFRB had yet to respond to media queries as of press time.

US-based firm engages Cirtek unit to develop 5G equipment

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IRTEK Holdings Philippines Corp. said its wholly owned unit Cirtek Electronics Corp.

(CEC) was engaged by a US-based chipmaker and technology company to manufacture modules and chip sets that will go into fifth-generation wireless systems.

“The 5G products, which will be used for data traffic control and for high-bandwidth, high-speed transmitters, are expected to generate revenues to Cirtek of up to $3 million per year starting 2020,” Cirtek said.

The Silicon Valley-based US firm specializes in telecommunications eband ceramic modules and chipsets.

The company will transfer their assembly, pre-cap test and radio frequency (RF) final test line from the US into CEC’s facility and will consign assembly and RF test equipment to CEC. CEC in turn will invest and upgrade its surface mount technol-

ogy, or electronic board assembly, capabilities and capacity, the company said.

Meanwhile, Cirtek Advanced Technology and Solutions Inc. (Catsi), also a wholly owned subsidiary of Cirtek, expects to expand its RF board module assembly manufacturing business by 33 percent to fetch a $4-million revenue.

It said that a major customer is consolidating its business and aims to capitalize on Catsi’s vast experience in RF, microwave and millimeter wave manufacturing. Catsi provides high-quality, cost-efficient and reliable solutions for communication systems and wireless infrastructure equipment.

“These new business developments highlight the Cirtek Group’s continuing capability to deliver relevant, complex, full turnkey solutions, to the benefit of our customers,” Cirtek said. VG Cabuag

the Visayas and Mindanao.

Jose Victor P. Paterno, the company’s president and CEO, said the company may end up the year with close to 3,000 branches from its current number of about 2,700. It ended 2018 with 2,550 stores, most of which are still in Metro Manila and Luzon.

ATM machines, too PATERNO said the company also plans to operate white automated teller machines (ATM) in its stores.

The white ATMs will allow deposit and withdrawals to any bank, but Paterno said it takes time to talk with the local banks. The 7-Eleven stores can use the ATMs themselves by depositing their money into the machine instead of hoarding the cash in the stores, which can at-

MUTUAL FUNDS

tract robbers.

“If we want, we could have operated tomorrow. We should have an agreement with different banks.

After the agreement, there’s still a system integration. So it takes time,” Paterno said, adding that it still has to strike a deal with a bank.

For starters, Paterno said it wants to operate some 300 white ATMs, possibly by next year, within Metro Manila area.

The company wants people to visit their stores both for buying their products and using their services such as the money transfers or electronic mobile phone loads.

“Over the past year, we’ve realized that serving the customers’ needs and giving them more reasons to visit the store leads to higher consumption,” Paterno said.

July 18, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 273.14 8.38% -0.46% 1.58% 8.3% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6858 18.04% 7.42% 3.46% 17% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.2359 6.56% -0.84% 0.57% 8.53% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9855 11.17% N.A. N.A. 9.38% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.9051 8.69% N.A. N.A. 10.28% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.652 8.59% 0.72% 1.51% 7.18% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.9098 6.87% -3.41% N.A. 8.74% MBG EQUITY INVESTMENT FUND, INC. -A 122.59 15% N.A. N.A. 5.53% PAMI EQUITY INDEX FUND, INC. -A 54.2584 11.12% 0.33% N.A. 10.23% PHILAM STRATEGIC GROWTH FUND, INC. -A 564.15 10.14% -0.67% 1.48% 9.6% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3736 11.79% 1.38% 3.52% 9.54% PHILEQUITY FUND, INC. -A 40.2814 12.29% 1.93% 3.19% 9.96% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0862 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.5065 12.13% 1.32% 3.68% 11.05% PHILIPPINE STOCK INDEX FUND CORP. -A 919.55 12.18% 1.04% 3.65% 11% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.96 13.62% 0.31% N.A. 11.63% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.4959 12.63% 1.25% 3.12% 10.77% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0563 11.6% 0.98% N.A. 10.69% UNITED FUND, INC. -A 3.8571 10.78% 2.44% 3.87% 10.18% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 123.0962 12.57% 1.88% 4.71% 11.15% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9972 -2.85% 4.85% -0.42% 7.33% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3258 2.12% 8.94% N.A. 19.96% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7914 7.97% -1.31% -0.77% 8.49% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3731 5.8% -0.17% 1.06% 7.42% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.7221 6.69% 0.5% -0.77% 7.04% GREPALIFE BALANCED FUND CORPORATION -A 1.3767 4.16% N.A. N.A. 5.55% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9742 7.59% 0.34% 1.73% 7.11% PAMI HORIZON FUND, INC. -A 3.8369 8.3% -0.8% 1.08% 8.72% PHILAM FUND, INC. -A 17.2579 9.07% -0.6% 1.08% 8.49% SOLIDARITAS FUND, INC. -A 2.1992 6.95% 0.68% 2.26% 6.28% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9821 10.26% 0.39% 2.08% 9.06% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0426 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0463 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.043 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0244 12.12% 0.76% 1.93% 11.14% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03743 6.67% 1.44% 2.01% 6.03% PAMI ASIA BALANCED FUND, INC. -A $1.0033 -0.24% 3.12% -0.74% 9.81% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.8025 3.29% 6.22% 3.01% 14.93% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1154 3.85% 3.75% N.A. 10.44% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 351.36 3.56% 2.06% 2.22% 2.3% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9021 2.01% -0.08% -0.18% 2.31% COCOLIFE FIXED INCOME FUND, INC. -A 3.0527 5.29% 5.22% 5.25% 2.57% EKKLESIA MUTUAL FUND INC. -A 2.1958 3.66% 1.03% 1.9% 3.13% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3195 4.73% 1.11% 1.4% 5.19% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6055 1.88% -2.01% -0.01% 2.63% PHILAM BOND FUND, INC. -A 4.2074 6.76% -0.32% 1.37% 7.34% PHILEQUITY PESO BOND FUND, INC. -A 3.6813 5.51% 0.52% 1.37% 4.67% SOLDIVO BOND FUND, INC. -A 0.9406 4.37% -0.77% N.A. 5.54% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9763 8.19% 0.9% 2.19% 7.61% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6526 8.15% 0.44% 1.72% 7.32% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $459.59 3.68% 1.7% 2.74% 2.5% ALFM EURO BOND FUND, INC. -A Є218.25 2.33% 1.31% 1.51% 2.62% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1857 6.44% 1.77% 2.53% 5.33% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 3.64% 0.79% N.A. 3.23% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7145 1.09% -2.04% 0.58% 1.44% PAMI GLOBAL BOND FUND, INC -A $1.0855 4.89% -0.54% -1.99% 4.75% PHILAM DOLLAR BOND FUND, INC. -A $2.35 8.52% 0.77% 3.23% 8.26% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.059332 4.58% 1.54% 1.83% 4.09% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0811 6.76% 0.11% 2.66% 7.28% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.81 3.82% 2.47% 1.97% 2.42% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0162 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2191 4.17% 1.85% 1.13% 3.15% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2471 3.79% 2.7% 2.07% 2.29% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0292 2.19% N.A. N.A. 1.31%

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. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

Editor: Angel Calso

World Companies BusinessMirror

IBM sales drop and executives aren’t ready to discuss Red Hat

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nternational Business Machines Corp. shares slipped after executives were tight-lipped about the company’s $34-billion Red Hat acquisition and how it will help growth in cloud computing.

The deal closed last week and IBM reported quarterly results on Wednesday. Analysts tuned into a conference call to glean fresh details on the impact of adding Red Hat’s open-source software to IBM’s current offerings. But Chief Financial Officer Jim Kavanaugh declined to answer any questions on Red Hat, saying the company will share an updated financial forecast at its annual investor briefing on August 2.

“Everyone is looking forward to this investor update,” Edward Jones analyst Logan Purk said.

“It’s paramount that IBM really nails that.”

Second-quarter revenue fell 4.2 percent to $19.2 billion, slightly beating the average analyst estimate. It was the fourth consecutive quarter of revenue declines for the Armonk, New York-based company.

The shares declined 1.5 percent in extended trading.

After lagging in the cloud mar-

ket for more than a decade, IBM is pegging its future to a hybrid cloud strategy that will allow it to offer services on both private and rival public clouds. Chief Executive Officer Ginni Rometty paid a rich premium for Red Hat in order to help the 108-year-old company catch up with cloud market leaders Amazon.com Inc. and Microsoft Corp. The deal officially closed last week, so Red Hat’s contribution hasn’t shown up in IBM’s quarterly financial reports yet.

Rometty has touted the Red Hat deal, which was announced in October, as a “game changer” for IBM, claiming it will reset the entire cloud landscape. IBM has estimated only 20 percent of enterprise applications have made the shift to cloud so far and Rometty believes the company is in prime position to conquer the remaining market.

This quarter’s results are significant because they represent

the last clean read of IBM’s trajectory before the integration of Red Hat, Sanford C. Bernstein analysts Toni Sacconaghi and Corry Wang wrote in a note before the results were released.

Revenue in the global technology services unit, which includes cloud infrastructure and technology support, was $6.8 billion, down 6.7 percent, from a year earlier.

The division shrank by the same amount in the previous quarter.

The drop was the result of IBM ending some unprofitable businesses, Kavanaugh said. “We will see improvements of those numbers as we get into the second half,” he added. Technology services is IBM’s biggest business unit, pulling in almost 40 percent of total sales.

Earnings excluding some costs were $3.17 a share in the three months ending June 30, higher than the $3.08 average Wall Street estimate. For the full fiscal year, IBM stuck to a forecast of at least $13.90 a share.

Big Blue has reported shrinking revenue growth since 2012.

There was a modest and temporary reprieve in early 2018, but the slight uptick in sales stemmed from its legacy mainframe computers, rather than newer technologies like artificial intelligence, and cloud computing. In the second quarter, IBM reported revenue growth of 3.2 percent in cloud and cognitive

solutions, stronger than in the previous quarter.

IBM’s lackluster sales are due to a cannibalization of its legacy technology and data centers, Wedbush Securities Inc. analyst Moshe Katri said in an interview before the results were released. While the company has made significant strides toward new technologies like cloud computing, these services are capital and labor light, Katri said. “It’s time to grow that business and make it really count for overall topline growth,” he said.

The future of IBM is hybrid cloud, said Ian Campbell, chief executive officer of Nucleus Research.

“But the biggest challenge is they are very late to the cloud party,” he said. Amazon Web Services and Microsoft Azure have dominated the public cloud space for years and IBM, once a tech titan, is considered small fry in comparison. “Cloud is the make or break for IBM, but nobody even knows they’re there,” Campbell said.

On Tuesday, IBM announced that AT&T Inc. would be shifting its internal software applications to the IBM cloud in a multiyear agreement. This is mutually beneficial for both companies, Campbell said.

“But it feels like two B-list celebrities announcing an engagement in the hopes of becoming an A-lister,” he added. “This is not going to move the needle.” Bloomberg News

GrandVision surges after Ray-Ban owner begins $8-B takeover talks

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randVision NV surged for a second day after RayBan sunglasses owner EssilorLuxottica SA began takeover talks in a deal that would value the smaller Dutch eyewear retailer at about €7.1 billion ($8 billion).

EssilorLu xottica is holding talks with GrandVision’s controlling shareholder, HAL, to buy the firm’s approximately 77-percent stake, HAL said in a statement on Wednesday in response to a Bloomberg report, which was confirmed later by the French-Italian suitor.

Shares of GrandVision jumped as much as 10 percent Thursday, reaching €25.30, their highest level since September 2016.

A n acquisition could value GrandVision at about €28 a share, the Schiphol-based company said in a separate statement, or about 33 percent higher than the stock’s closing price on Tuesday before reports of the talks emerged. At that price, HAL’s holding would be worth about $6.2 billion.

Following the completion of a deal, EssilorLuxottica would make a public offer for all of GrandVision’s shares, the Dutch company said. No agreement has been reached and any transaction would be subject to regulatory approval, HAL said.

By adding GrandVision, which sells prescription glasses, contact

Management feud

lenses and other eye-care products, EssilorLuxottica would gain more than 7,000 stores in more than 40 countries. GrandVision operates under retail brands including Brilleland and For Eyes. In addition to its well-known sunglass labels, including Oakley, EssilorLuxottica owns store chains like LensCrafters and Pearle Vision.

HAL Holdings HAL is majority-owned by the Dutch billionaire Van der Vorm family and traces its roots to the 1873 founding of the Holland America Line in Rotterdam. Its current incarnation dates to 1989 when the owners sold the cruise line to Carnival and started an invest-

ment company with the proceeds.

HAL holds large stakes in listed and non-listed companies, with GrandVision its largest holding, and has a market value of more than €11 billion. It also has a $3-billion stake in Koninklijke Vopak NV and holds about $626 million worth of SBM Offshore NV. GrandVision rose 8.8 percent Wednesday after Bloomberg reported the talks. EssilorLuxottica was little changed Thursday in Paris.

GrandVision raised about €1 billion in its initial public offering in 2015, plugging the money into expansion plans and valuing the company at about €5 billion at the time.

EssilorLuxottica’s interest in GrandVision comes only two months after the company defused a leadership dispute that weighed on its shares. The eye-care maker, the result of a merger of France’s Essilor and Italy’s Luxottica, said in May that it would seek a new chief executive officer—an effort to find a compromise between Chairman Leonardo del Vecchio and Vice Chairman Hubert Sagnieres.

The dispute flared up after the companies sealed their $53-billion merger last year, with del Vecchio saying he wanted to appoint his deputy as CEO and Sagnieres countering that the Italian was making false statements in an effort to seize control of the group.

Before Bloomberg reported the takeover interest, the Dutch company’s shares had risen 9 percent over the past 12 months, in contrast to a 4.4-percent decline for EssilorLuxottica, which has a market value of €51 billion.

Del Vecchio is EssilorLuxottica’s biggest shareholder with a 32-percent stake. Born in 1935, he founded Luxottica in 1961 with a handful of workers and transformed his business from a small maker of eyeglass frames into a global giant through a series of acquisitions.

Bloomberg News

Facebook won’t commit to starting small on Libra

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ASHINGTON—Facebook is moving forward on an ambitious plan for a new digital currency and won’t commit to US lawmakers’ requests that it start small.

Facebook executive David Marcus, who’s leading the Libra

currency project, tried to dodge a question on Wednesday during a hearing of the House Financial Services Committee. Marcus was asked by New York Democratic Rep. Carolyn Maloney if Facebook would commit to doing a small pilot program first to ad-

dress numerous concerns from US officials, both Democrats and Republicans.

Marcus says Facebook will launch the project responsibly and make sure there’s “appropriate oversight.”

Maloney says if Facebook can’t

commit to a pilot test, “Congress should seriously consider stopping this project from moving forward.”

Wednesday’s House hearing follows a testy Senate banking hearing Tuesday on Facebook’s currency proposal. AP

Friday, July 19, 2019 B3

Shanghai Stock Exchange’s STAR Market launched

In this June 13, 2019, photo released by Xinhua News Agency, guests (from left), Yi Huiman, chairman of China Securities Regulatory Commission; Liu He, vice premier; Li Qiang, top party official of Shanghai; and Ying Yong, Shanghai’s mayor, celebrate the launch of the SSE STAR Market, previously referred to as the Shanghai science and technology innovation board in Shanghai. Trading is expected to start on Monday, July 22, 2019, on the Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington. Fang Zhe/Xinhua via AP

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EIJING—Trading starts Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington.

Regulators have approved 25 companies in information technology and other fields seen by communist leaders as a path to prosperity and global influence for the Shanghai Stock Exchange’s STAR Market.

The market, modeled on the US-based Nasdaq, reflects the ruling Communist Party’s desire to channel private capital into its development plans. It gives small Chinese investors a chance to buy into tech industries that until now have turned to Wall Street to sell shares.

The STAR Market has no direct link to Beijing’s tariff war with President Donald J. Trump over US complaints China steals or pressures companies to handover technology. But it will raise money for industries some American officials see as a competitive threat to US technology leadership.

“The new board’s important role is to provide a fund-raising channel for China’s scientific and technologic innovation,” said economist Lu Zhengwei at Industrial Bank in Shanghai.

China’s stock exchanges in Shanghai and the southern city of Shenzhen were set up in the early 1990s to raise money for state industry.

They have expanded to include private enterprises but still are dominated by governmentowned companies such as PetroChina Ltd. and China Mobile Ltd. Companies such as e-commerce giants Alibaba and JD.com, and search operator Baidu.

com have raised billions of dollars on Wall Street. But foreign stock sales are inconvenient and expensive for smaller companies.

The STAR Market has more lenient standards for profitability and price volatility than the main exchanges. The Shenzhen Stock Exchange launched its own second board, dubbed ChiNext, in 2009 for small, faster-growing companies.

Companies that have yet to make a profit can trade on the Shanghai tech board if they spend at least 15 percent of revenue on research and development or have drugs or other technologies in advanced development.

By contrast, the main board requires at least two years of profits before a company can join, a condition that has limited access for fledgling ventures.

Allowing companies to sell shares before they are profitable will encourage development of Chinese venture capital by allowing early investors to recover some of their money, said Lu of Industrial Bank.

Shares on the new market can swing by 30 percent in price before regulators will impose a 10-minute trading halt. The main exchanges halt trading for the day of any stock that rises or falls 10 percent in price.

In addition to companies due to start trading Monday, the Shanghai exchange said it was reviewing applications from 116 other ventures for initial public share offerings.

A state-owned maker of railway controls accounts for the bulk of the market’s share value. China Railway Signal & Communication Co. Ltd. said it raised 10.5 billion yuan ($1.5 billion) from investors. AP

French prosecutors want Air France tried for 2009 Rio crash

In this June 2, 2009, file photo, reporters work behind a security cordon in front of the Air France checkin desk of the Tom Jobim Airport in Rio de Janeiro. French prosecutors want Air France to stand trial for manslaughter in the 2009 crash of a flight from Rio de Janeiro to Paris that killed all 228 people aboard, a judicial official said Wednesday July 17, 2019. AP Photo/ Ricardo Moraes

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ARIS—French prosecutors want Air France to stand trial for manslaughter in the 2009 crash of a flight from Rio de Janeiro to Paris that killed all 228 people aboard, a judicial official said Wednesday.

Prosecutors also have asked that the case against Airbus, maker of the doomed aircraft, be dropped for lack of sufficient evidence. The official wasn’t authorized to speak about the case and asked to remain anonymous.

Air France Flight 447 left Rio de Janeiro for Paris but crashed into the Atlantic Ocean on June 1, 2009. The Accident Investigation Bureau found that external speed sensors were frozen and produced irregular readings on the aircraft, which went into an aerodynamic stall.

A plethora of problems appear to have doomed the flight as it traveled through turbulence. The captain was on a rest break when the emergency arose, the autopilot disengaged and the copilots struggled to fly

the aircraft manually.

In their final summing up on Friday of the investigation, prosecutors cited negligence and insufficient training that lead to chaos in the cockpit. They said there was a failure by the company to honor its legal obligation of prudence by insufficiently informing crews of previous incidents at play in the accident and procedures in such situations “in a context of insufficient training of pilots at high altitude...and deficient operational treatment.”

Airbus had warned pilots a year earlier about possible incorrect speed readings from the plane’s external sensors, known as Pitot tubes, but changed them only after the crash.

A report last year that was part of the judicial investigation blamed the Flight 447 pilots for failing to apply correct procedures, thus losing control of the aircraft.

A victims group, AF 447 Victim Solidarity, contested the 2018 report, saying it freed Airbus of all responsibility in the accident. AP

B4 Friday, July 19, 2019

WILCON DEPOT OPENS NEW STORE IN MISAMIS ORIENTAL

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HE Philippines’s leading homeimprovement and constructionsupply retailer Wilcon Depot mapped another provincial store in Opol, Misamis Oriental. The newest retail store, which opened its doors to customers on July 12, is Wilcon’s second home in the province.

Wilcon Depot first entered the prov ince on September 2017 and established their first store in Cagayan de Oro City. To date Wilcon Depot Opol is the

37th provincial branch nationwide and seventh branch in the Mindanao region.

Seeing a huge potential and high demand for housing, Wilcon Depot advantageously brought its products and services to the progressive municipality of Opol. Aside from having an abundance of natural attractions, like beaches, waterfalls, caves and mountains, the municipality prides itself of its commercial and tourism developments, and increasing economic opportunities.

Having two locations in Misamis Oriental, the newest Wilcon outlet is a must-visit home-shopping destination accommodating thousands of strong and reliable local and international brands in the market, arranged in an organized and clutter-free manner inside an air-conditioned store. By maintaining its uniformity in the interior of its depot store, Wilcon makes its operations efficient to help the customers shop with ease.

Located at Zone 7, Barangay Barra, Opol, Misamis Oriental, the recently opened store has a total sales area of over 12,000 square meters carrying its full array of extensive and quality home-building materials ranging from tiles, sanitarywares, plumbing, furniture, home interior, building materials, hardware, electrical, appliances and other do-it-yourself items.

Wilcon remains to be the country’s most preferred home partner that provides great value and selection for every Filipino home building needs.

By 2020 Wilcon aims to have a total of 65 strong store network nationwide.

This year Wilcon is currently working on additional store expansions in Antipolo, Rizal; Santo Tomas, Batangas; Calumpit and San Jose del Monte, Bulacan; Iguig, Cagayan Valley; and Daraga, Albay.

UPMG TAPS MANILA HOTEL AS OFFICIAL VENUE FOR CSR INITIATIVE The United Print Media Group (UPMG) Philippines is the premier association of major publication companies in the country, with more than 100 news and business papers, tabloids and magazine titles with digital properties. The Dance For A Cause, happening on December 5, is a corporate social-responsibility project, which will coincide with the UPMG Christmas ball, or the organization’s 18th anniversary, with the Aetas of Saint Francis Learning Center as the intended beneficiary. In photo are (seated, from left) Annie Grefal, operations head of Manila Standard; Vivienne Motomal, assistant vice president for sales and advertising of the Journal Group of Publications; Jenelene Go-Ng, account manager of Manila Hotel; (standing, from left) Camille Lobegas, UPMG secretary; Lulu Fajardo, sales and marketing executive of Panay News; Merce Pascual, head of marketing of Manila Standard; and Edita Cada, business manager of Mindanao Bulletin.

SSS EXTENDS CONDONATION PROGRAM TO SEPT. 6

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OOD news, employers! The staterun Social Security System (SSS) will accept applications for the ongoing Contribution Penalty Condonation Program (CPCP) until September 6.

The Social Security Commission (SSC), the policy-making body of the pension fund, through Resolution 453, series of 2019, clarified the deadline of the CPCP from the earlier announcement of September 1.

Republic Act 11199, or the Social Security Act of 2018, paved the way for

the offering of the CPCP for employers.

The transitory clause, or Section 31, of the newly enacted law states that an employer who is delinquent or has not remitted all contributions due and payable to the SSS may do so, within six months from the effectivity of the act. The law was signed on February 7 and took effect on March 5.

For more information on how to avail of the CPCP, employers may visit the nearest SSS branch or send an e-mail at member_ relations@sss.gov.ph.

CALTEX FUELS WORLD RECORD UNDER NEW CAMPAIGN, INTRODUCES NEW AMBASSADOR

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ALTEX, marketed by Chevron Philippines Inc. (CPI), launches the World Record-Breaking Fuel campaign, collaborating with a two-part series on National Geographic’s Record Rides to demonstrate how a worldclass fuel could power recordbreaking feats. The automotive reality entertainment series pits adrenaline junkie and radio DJ KC Montero against JamaicanChinese professional rally race-car driver Natasha Chang to break new grounds: The fastest ascent of Doi Chang Mountain road using an everyday car boosted with Caltex with Techron fuel.

“This show will demonstrate how Caltex with Techron fuels can power an engine toward achieving an extraordinary journey,” says Brian Fisher, Caltex brand manager.

The Guinness World Records’ long-standing 63-year history and credibility made them the obvious partner to demonstrate how a world-class fuel could power recordbreaking feats.

“Caltex partnered with [the] Guinness World Records and set the timing of 6 minutes [and] 52.692 seconds, with Natasha achieving the coveted title of the fastest ascent of Doi Chang Mountain Road by using a 28-year-old car,” Fisher adds.

With the world record, Caltex’s campaign encourages drivers to fuel up the same liquid that sets a world record and experience its power in

their everyday drive.

Caltex also introduces its record-breaking endorser— actor Dingdong Dantes, who is a motorcycle enthusiast himself— with an impressive collection of motorcycles.

His various successes in life are so much more worth noting: actor and GMA Primetime King, TV host, a film producer and an entrepreneur—he co-owns a car dealership in Parañaque City and manages his own film studio. He is also the founding chairman of the Yes Pinoy Foundation, an advocacy catering to the youth, education and service.

Dingdong juggles all these together with being a husband and a loving father to two beautiful kids with Marian Rivera.

“Dantes is a great representation of our world-record breaking brand, embodying our brand’s main tagline and philosophy of “Enjoy the Journey”. He fits Caltex’s personality—positive, friendly and adventurous that encourages people to enjoy the experience of whatever they’re doing and wherever they are going, ” said Louie Zhang, CPI country chairman.

“His list of achievements is a clear proof of his determination to be at his personal best, just like Caltex.

We embrace the difficult to achieve the extraordinary in our desire to provide the best premium quality fuels for motorists,” he says.

Sports BusinessMirror

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Friday, July 19, 2019 C1

EWAN, FINALLY, WINS TOUR STAGE After coming close in previous stages with three thirdplace finishes and a runner-up spot, Caleb Ewan finally delivered by edging one of the peloton’s fastest men.

AUSTRALIA’S Caleb Ewan (left) and the Netherlands’ Dylan Groenewegen sprint to the finish line

By Samuel Petrequin The Associated Press

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OULOUSE, France—A bit more than a year ago, Caleb Ewan was devastated to be left out of the Tour de

France.

The Australian sprinter had to watch cycling’s biggest race on TV after finding out at the last minute that his Mitchelton-Scott team was placing all its bets on Adam Yates in the fight for the yellow jersey, and would leave Ewan at home.

A year later, Ewan earned his first Tour victory by edging a close

sprint on Stage 11 in Toulouse on Wednesday.

“I was ready for the Tour three of four years ago, I always wanted to go straight to the top races,” said Ewan, whose daughter was born just before the race started.

“I’ve been held back, I finally got my chance.”

Ewan switched teams to Lotto-Soudal this season to replace veteran German sprinter Andre Greipel, and the ambitious youngster was, at last, promoted to a team leader role this summer in France.

But the pressure

was big on Ewan, a winner of 36 professional races—including stages at the Spanish Vuelta and Giro d’Italia.

After coming close in previous stages with three third-place finishes and a runner-up spot, he finally delivered by edging one of the peloton’s fastest men. The 25-year-old Australian beat fellow sprinter Dylan Groenewegen by a tire’s width and was awarded the victory after photo finish. Elia Viviani placed third ahead of three-time world champion Peter Sagan.

Ewan perfectly timed his effort after Groenewegen launched his effort on the left

side of the road. Ewan took the wheel of his Dutch rival and pipped him to the line.

“It was super hectic,” said Ewan, who has now completed wins at all three Grands Tours.

“I ended up in Groenewegen’s wheel coming out of that corner.

It’s a hard thing being with Dylan and I knew it was not going to be easy to beat him. I felt I should let him get a bit of a gap so I could sprint in his slipstream, and I could pass him quite quick.

I’m happy that this time I was a few centimeters ahead of him.”

The win also made up for having to leave Australia just after the birth of

PERFECT DIVE FOR 13-YR-OLD CHINESE G

WANGJU, South Korea—Thirteen-yearold Chinese diver Chen Yuxi won the women’s 10-meter platform final at the world swimming championships on Wednesday, and received two perfect marks for her third drive.

Chen finished on 439 points to clinch the gold medal at her first worlds.

“Everybody told me to relax before the final, but I still could hear my heart beat,” Chen said.

“I was shaky in the first two dives and then I felt better and better. I thought about challenging myself and reaching above 440.”

It was the ninth diving gold medal in nine events at Gwangju, with three events remaining, all Olympic disciplines. The men’s 3-meter springboard is set for Thursday, the women’s 3-meter on Friday and the men’s 10-meter platform on Saturday.

Another 13-year-old Chinese diver, Lu Wei, provided competition for Chen before winning silver Wednesday with 377.80 points.

“Although I had a gold medal from the synchro, I was still nervous about competing in the individual event,” Lu said.

“I made a mistake in the second dive but overall was OK.” American Delaney Schnell was third with 364.20 points.

Germany, meanwhile, won the mixed 5-kilometer open water team relay at the world swimming championships in a close finish over Italy and the United States on Thursday.

The German quartet of Lea Boy, Sarah Kohler, Soeren Meissner and Rob Muffels finished in a time of 53 minutes, 58.70 seconds.

Italy, with Rachele Bruni, Giulia Gabbrielleschi, Domenico Acerenza and Gregorio Paltrinieri, was two-tenths of a second behind in a time of 53.58.90.

Haley Anderson, Jordan Wilimovsky, Ashley Twichell and Michael Brinegar made up the American team which finished just three-tenths of a second behind Germany to take bronze in 53:59.00.

There are two males and two females on each team who swim 1.25 kilometers each, but the order in which they swim is up to the individual country.

The German team, anchored

by Muffels, was disadvantaged by a yellow card issued to Boy in the leadoff leg. A second yellow card would have resulted in disqualification, so each of the German swimmers needed to be careful of their tactics for the rest of the race.

Muffels was a member of the German team that won the same

his daughter Lily. He thanked his wife for letting him go and compete in France in such circumstances.

“She let me come here and leave my young baby in hospital,” Ewan said. “It’s the hardest thing I had to do, to come here to race and leave my daughter in hospital.”

With the race heading into the Pyrenees over the next four stages, the main favorites did not take any risks on Wednesday and there were no significant changes in the overall standings.

Frenchman Julian Alaphillipe kept the yellow jersey, one minute and 12 seconds ahead of defending champion Geraint Thomas. Thomas’s teammate Egan Bernal, the Ineos coleader, remained in third place, a further four seconds behind.

“I’ve prepared myself for attacks to take place, whether from the favorites or other riders who want to gain time,” Alaphilippe said.

The coming days could be crucial in determining the next Tour champion. Following Thursday’s stage and its two first-category climbs, Thomas—an excellent time-trial specialist—will have a chance to gain time on his rivals in the only individual race against the clock this year. Then it will be time for the grueling ascent of the Tourmalet—the first of three finishes over 2,000 meters this year—and a final Pyrenean stage totaling more than 39 kilometers of climbing.

“There are five big days to come, but we are up for it,” Thomas said. “Obviously, we’d love to be closer to Alaphilippe, but we are ahead the traditional GC [general classification] guys. It’s hard to see how Alaphilippe will go, but Egan and I are in quite a good place. By the second rest day we will know more about who are our rivals.” AP

Hunting with dogs for ‘Black Diamonds’

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LU WEI

event in Kazan, Russia, four years ago.

“I think each of us did a really good job, it was a perfect strategy,” Muffels said of the decision to lead off with two female swimmers. “The conditions were quite good with some little waves, and they were not too big or challenging.”

Twichell swam third for the Americans.

“I went off with a little bit of a

CHEN YUXI

lead, but I knew there were three guys—the Chinese, Germans and Italians—that were coming up on me,” Twichell said. “I just had to stay strong in the beginning, and when the Chinese guy came up with me, just tried to get into his pocket and felt like I did a really good job drafting off those three for as long as I could.”

“Distance swimmers don’t get to swim relays all that often... but we put together a really good

result. It’s a sprint for us, so it was really fun watching Michael [Brinegar] bring it home so well.”

Brazil’s team finished fourth, Australia was fifth and France, Netherlands, Hungary, China and Russia rounded out the top 10 of the 21 countries in the race.

The open water races conclude Friday with the men’s and women’s 25-kilometer races, both non-Olympic events. AP

ESTAYROLS, France—When he got the call that Monsieur le Directeur of the Tour de France and friends would be dining in his restaurant and would it be possible, please, to serve them truffles, chef Georges Bermond sprang into action.

Sourcing fresh truffles in the July heat of southern France, before end-of-August rains entice the fragrant fungi to grow and swell, is no easy feat. But Georges knows Serge, a truffle farmer, and he called his buddy with a truffle-hunting dog.

The dog came up trumps, sniffing out from under trees a bowlful of the rough dark pungent lumps nicknamed “Black Diamonds” because they’re so pricey.

And so, that night, Tour Director Christian Prudhomme’s dinner party got grated summer truffles on their juicy beef-steaks in Bermond’s restaurant in Albi, where Stage 11 of the race started on Wednesday.

Caleb Ewan, a Tour rookie from Australia, won the 167-kilometer stage to Toulouse with a magnificent sprint finish, justifying his billing as one of the brightest stars in a new generation of super-quick finishers in cycling.

The yellow jersey stayed firmly on the shoulders of French rider Julian Alaphilippe, who has held it for seven stages but could lose the race lead when the Tour heads into the Pyrenees mountains from Thursday.

Summer truffles, a creamy white inside, are a less fragrant cousin—but, nevertheless, still nutty and earthy in flavor and smell—of the even tastier black winter truffles so prized in French cuisine, which fetch many hundreds of euros (dollars) a kilo (a couple of pounds).

A dog that finds one is indeed man’s best friend. Serge Bouthonnier, the truffle farmer who came through for chef Bermond in his hour of need this week, trained his truffle-hunting dog, Louki, by rewarding him with chunks of gruyère cheese. AP

Spo

Business

C2 Friday, July 19, 2019

Mickelson feted for 25 straight years in top 50

JUST ANOTHER OPEN?

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ORTRUSH, Northern Ireland—On the final day of practice for the final major of the year, Rory McIlroy ripped a shot out of the light rough and began walking toward the green when he stopped in the middle of the fairway for a quick interview with Sky Sports.

That’s normal for McIlroy at any British Open.

Fans stood six deep, creating a corridor as he walked to the third tee on Wednesday. The grandstand was full and the gallery framed the entire par three, despite heavy clouds that began to darken with the promise of more rain at Royal Portrush.

No, this is not a normal British Open— certainly not for McIlroy no matter how hard he tries to convince himself as golf’s oldest championship returns to his native Northern Ireland for the first time in 68 years.

“You’ve got the best players in the world here, and I don’t feel like I’m the center of attention,” McIlroy said at a news conference before a media gathering larger than it was for Tiger Woods.

He is not the only Ulsterman who tees off

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ORTRUSH, Northern Ireland—Phil Mickelson received a crystal award Tuesday at the British Open.

No, it wasn’t for most days without eating.

One of the hallmarks of Mickelson’s career is playing for so long at a consistently high level, and the Official World Golf Ranking (OWGR) board honored him for a feat that might be as remarkable as his 47 wins worldwide or his five majors.

Starting with a runner-up finish at the Casio World Open in Japan in November 1993—the same year Jordan Spieth and Justin Thomas were born— Mickelson has never been outside the top 50 in the world. The award was for 25 consecutive years, and he’s still going.

“To play for this long, I’m very thankful and appreciative,” Mickelson said.

Peter Dawson, the former R&A chief who now chairs the OWGR board, said Mickelson has been among the top 50 for 1,338 consecutive weeks. The second-longest streak belongs to Ernie Els, at 965 weeks. Among active streaks, Rory McIlroy is next at 556 weeks.

How has Mickelson done it?

“I don’t have a great answer for that,” Lefty replied, though he suggested a long swing has led to a long career because it has kept him largely free of injuries. As for the motivation, Mickelson has never lacked that. “I love what I do,” he said, referring to golf as being a soothing, almost spiritual feeling. “I need it to function.”

Even with this remarkable accomplishment, Mickelson can’t avoid questions about his six-day fast in which he says he lost 15 pounds. He posted a message on Twitter that begins, “Let’s get real.”

He says he hasn’t been at his best and wanted a “hard reset.” So he did a six-day fast, drinking nothing but water and a special coffee blend designed for wellness. Mickelson says he craved food for the first day but was fine after that.

“I don’t know if it will help me play better, but it makes feel better about myself,” he said. AP

Thursday in pursuit of a claret jug.

Graeme McDowell was raised in Portrush and was a member of Rathmore Golf Club, which is owned by Royal Portrush and shares the same links along the North Atlantic. Darren Clarke forged his game as a junior at Royal Portrush and now calls it home.

McIlroy is different.

He is a four-time major champion and No. 3 in the world, and Royal Portrush is where he came of age in golf. It’s where his father brought him for his 10th birthday, when he met Clarke for the first time. It’s where he first delivered on his potential at 16 when he shot a course-record 61 in the North of Ireland Amateur.

“Portrush has been a very big—at least the golf club—part of my upbringing,” McIlroy said. “It’s sort of surreal that it’s here.”

Just another Open?

It was the first time in 159 years of the British Open that tickets had to be purchased in advance, including two practice rounds. That brings the attendance total for the week to 237,500, second only to the Old Course at St. Andrews.

“I can’t just put the blinkers on and pretend that’s not all going on,” McIlroy said. “One of my mantras this week is look around and smell the roses. This is a wonderful thing for this country and golf in general. And to be quite a big part of it is an honor and a privilege. And I want to keep reminding myself that this is bigger than me. And I think if you can look at the bigger picture, it sort of takes a little bit of the pressure off.

“I still want to play well and concentrate and do all the right things,” he said. “But, at the same time, just having that perspective might make me relax a little bit more.”

A steady rain slowed the final day of practice, along with a stronger wind that gives this course its best defense.

McIlroy and Justin Thomas, Jordan Spieth and Patrick Cantlay, McDowell and others were among those who took in a rare, late afternoon round for being the eve of the Open.

Woods was a late afternoon arrival on the range, hoping to sharpen a swing in only his fourth tournament since he won the Masters.

Before long, the rain returned.

“It’s not quite as sharp as I’d like to have it

RORY MCILROY plays a shot on the fourth fairway during a practice round ahead of the British Open. AP

right now,” Woods said Tuesday. “My touch around the greens is right where I need to have it. I still need to get the shape of the golf ball a little bit better than I am right now, especially with the weather coming in and winds are going to be changing.”

The R&A awarded Clarke the honor of starting off the British Open. Clarke, McDowell and McIlroy are in the early half of the draw; Woods, Brooks Koepka and Dustin Johnson are among the late starters.

It promises to be quite a show.

“I’ve never seen the town look so great,” McDowell said. “Just the buzz from the people this week, it’s been amazing the last few days.” AP

French Polynesia submits bid to host surfing at Paris 2024

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RENCH Polynesia in the South Pacific is among five regions to have submitted a bid to host surfing at the 2024 Olympic Games in Paris, the Organizing Committee has announced.

Biarritz, the Community of municipalities of Le Pays Bigouden Sud (La Torche), Hossegor, Capbreton and Seignosse in the department of Les Landes and Lacanau—Bordeaux Metropole are the others

formally bidding to stage surfing events at Paris 2024.

Organizers will visit the five candidates over the European summer and the sites will have until September to submit a completed application file.

The candidacy from French Polynesia, an overseas collectivity of France which comprises more than 100 islands in the South Pacific, comes

Zubiri opens Asean Arnis Expo at PICC

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HE Asean Arnis Expo opened on Wednesday at the Philippine International Convention Center in Pasay City with Zubiri opening the event.

Zubiri is also the Chairman and President of Philippine Eskrima Kali Arnis Federation (PEKAF).

An initiative of the Philippine Sports Commission (PSC), in partnership with Pekaf, the expo is an avenue for the Philippines to promote arnis among Asean member-states.

It was developed in accordance with the activities of the nation as indicated in the Asean Five-Year Work Plan on Sports (2016-2020).

Zubiri, who authored and sponsored Republic Act 9850, an Act Declaring Arnis as the National Martial Art and Sport, welcomed the opportunity to meet and engage with the sports delegates from Cambodia, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

Three of these nations—Cambodia, Myanmar, and Vietnam—will compete along with the Philippines in the arnis events of the 30th Southeast Asian Games (SEA Games) in December.

In preparation for the SEA Games, Zubiri also participated in the SEA Games-Team Philippines Chef de Mission Meeting that gathered officials from participating national sports associations to update on the country’s preparations for the SEA Games and to thresh-out the problems of the different NSAs. Addressing the need for an emergency medical response team, Zubiri committed to request for ambulance units and volunteers from the Philippine Red Cross, of which he is vice chairman.

He expressed his confidence and support for PSC Chairman and Team Philippines Chef de Mission William “Butch” Ramirez and urged other NSAs to work together to achieve the common goal of being overall champions in the SEA Games.

SURFING is one of four additional sports provisionally approved for Paris 2024 inclusion. despite International Olympic Committee (IOC) President Thomas Bach playing down its chance of success.

Bach appeared to end French Polynesia’s hopes of hosting surfing competitions at the 2024 Games due to the 15,700 kilometers distance from France.

It followed a meeting between French Polynesia President Edouard Fritch, Vice President Teva Rohfritsch and members of Paris 2024.

The IOC president also indicated the organization’s preference for a location closer to the Olympic host city when considering venues.

The IOC’s “New Norm” reforms have paved the way for Olympic Organizing Committees and candidates to propose venues outside the main host

city or in other countries in an effort to use existing facilities.

Biarritz is expected to be among the favourites to win the bid to host surfing after it held the World Longboard Surfing Championship in June and hosted the World Surfing Games in 2017.

Les Landes department is also famous for its surfing and offers Hossegor, Capbreton and Seignosse as potential venues, while La Torche is considered the best spot for the sport in Brittany.

Lacanau is another surfing destination in the country and is located close to Bordeaux.

Paris 2024 claimed its main criteria in choosing the location of surfing would be the venue’s “experience in hosting surfing competitions,

Volleyball player latest Russian banned after positive drugs test

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ORMER volleyball international player Pavel Moroz is among the latest batch of competitors sanctioned by the Russian Anti-Doping Agency (Rusada) after testing positive for banned drugs.

The 32-year-old, who represented Russia 22 times between 2012 and 2015, failed a test for cocaine and has been suspended for 18-months, dated back to November 12 last year when he gave the sample.

The Ukrainian-born player is best known for his big serve and represented several clubs in Russia, and also played for a brief period in South Korea.

“Pavel Moroz has been disqualified for 18 months for violating provision 2.1 of the All-Russia Anti-Doping Rules and the decision comes into force starting November 12, 2018,” Rusada announced in a press release and reported by Russia’s official state news agency TASS. “The penalty is imposed over the consumption of stimulators, which do not belong to special S6a medications.

“The doping sample of the athlete tested positive for banned substance cocaine.”

Other Russians banned by Rusada include 49-year-old cyclist Tatyana Panina, who has received a six-month sanction.

Panina’s most notable result came in 2006 when she finished second in the road race at the Russian National Championships.

She has represented Belarus since 2010 having also previously rode for Moldova before switching allegiance to Russia.

At the other end of the age spectrum, 18-year-old basketball player Pavel Metelev, who represents Yenisei Krasnoyarsk, has been banned for three months following a positive

test for a stimulant.

Cross-country skier Sergei Korsakov has been banned for four years.

The suspension of the 38-year-old has been backdated to September 4 last year.

The Russian Olympic Committee has included an expenditure item of $479,000 in its budget to provide legal protection for the interests of the country’s athletes, it has been revealed. The ROC claimed earlier this year that it would create two working groups to assist the reinstatement of the Russian Athletics Federation (RusAF), which has been suspended by the International Association of Athletics Federations (IAAF) since November 2015, and to safeguard the rights of Russian athletes.

weather conditions, the quality of the body of water, and facilities for hosting athletes and spectators.”

The venue must also “propose a public celebration of the Olympic and Paralympic Games, contribute to the development of surfing, and manage the environmental impact involved in hosting the competitions.”

Surfing is one of four additional sports provisionally approved for Paris 2024 inclusion by the IOC at its Session last month, along with breakdancing, sport climbing and skateboarding.

Surfing, sport climbing and skateboarding will make their Olympic debuts at next year’s Games in Tokyo.

PROGRESS IN IRAN

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URICH—Fifa said Iran’s soccer federation supports letting women attend 2022 World Cup qualifying games of its men’s national team, though government approval is still needed.

Fifa is working with Iranian authorities to overcome a ban on women entering stadiums for men’s games since the 1979 Islamic revolution.

Some women were allowed to watch the Asian Champions League final in Tehran last November when Fifa President Gianni Infantino also attended.

Fifa wants the issue resolved before October 10 when Iran—the top-ranked team in Asia— hosts its first home World Cup qualifier against Cambodia. The next is March 26 against Hong Kong.

Soccer’s world body says Iran federation President Mehdi Taj has replied to Infantino saying “the matter has been taken up directly with the minister of sports and youth.” AP

KAMPEON 7S CUP Former national player Anton del Rosario (center) expounds on

the Kampeon 7s Cup during the event’s press launch at a restaurant in Makati on Thursday.

With Del Rosario are (from left) Bernadette Chincuanco, AIA-Philamlife Head of Branding Bernadette Chincuanco, Brunei partner Faezal Murni and Belai Fernando, also a former national athlete. ROY DOMINGO

orts

sMirror

Friday, July 19, 2019 C3

JAPANESE ZEROES IN ON GOLF TIARA J

APANESE Mayuna Furukawa came out virtually unscathed in wicked conditions, dispatching erstwhile coleader Chonlada Chayanun of Thailand and Taiwanese HsuanPing Chang with a gutsy finish to salvage a 71 and gain solo control after 36 holes of the International Container Terminal Services Inc. (ICTSI) Pradera Ladies Classic at the Pradera Verde Golf and Country Club in Lubao, Pampanga, on Thursday.

Two birdies in the last six holes, including at the water-laced par-5 18th from long range, shoved Furukawa past a charging Thai Wanchana Poruangrong for the lead at four-under 140 as Chayanun and Chang, just a stroke off the joint first round leaders, faltered at the front trying to buck the rain, the heat and the wind in another challenging day in the $80,000 Ladies Philippine Golf Tour event sanctioned by the Ladies Professional Golf Association of Taiwan (TLPGA).

“I struggled with my short game but the wind [is] not so strong unlike in the first round,” said Furukawa, who fired four birdies from as far as 20 feet against a bogey on No. 5 and a double bogey on the par-3 11th where she hit outof-bounds. But after surviving two days of battle with nature and the elite field and emerging on top with

Real Gold, Boss Emong favorites in third leg

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SLAM-BANG showdown looms in the 3rd leg of the Philippine Racing Commission’s Triple Crown Series at the MetroTurf Racing Complex on Sunday as six of the country’s best three-year-old thoroughbreds, led by the series’ first two winners Real Gold and Boss Emong, clash for fame, fortune and glory.

First-leg winner Real Gold (jockey JP A Guce) of the C & H Enterprise and second-leg champ Boss Emong (jockey Dan Camanero) of owner Edward Vincent Diokno are the odds-on picks to run away with the third jewel of the Triple Crown series.

But don’t tell that to Diokno, who is wary of the tough competition expected from the rest of the chargers. “It’s anybody’s race. I don’t think it will be a fight between my horse Boss Emong and Real Gold, only God can tell who will win,” Diokno said. “ The four others standing in their way and the top prize of P1.8 million from the guaranteed P3-million pot in the long 2,000-meter race are Moises Villasenor’s My Jopay (jockey Pat R. Dilema); Melanie Habla’s Shanghai Grey (jockey JB Hernandez); Juanito Tionloc’s Sir Joaquin (JT Zarate) and Renato Virata’s My Dad Bogart (MP Laloma).

My Jopay, for one, has participated in the first two legs and could be ripe for a breakthrough win, while My Dad Bogart and Sir Joaquin could pull off a surprise. “We are blessed that Real Gold is able to compete in all three legs of the triple crown.

Special thanks goes to the connections behind the conditioning of the horse. May the best horse win this coming Sunday,” said Butch Mamon, one of Real Gold’s owners.

Second placer of the race pockets P675,000, with the third and fourth placers getting P375,000 and P150,000, respectively. A P100,000 prize is allotted for the breeder of winning horse. All prizes are put up by the Philracom.

18 holes to play at the all-weather layout, the 22-year-old ace from Nagoya looks forward to hoisting the trophy tomorrow (today).

“But it depends on the weather condition. The course becomes difficult because of the rain and you have to play extra cautious out there,” said Furukawa, who tied for 29th in the ICTSI Manila Golf Classic last April. But with Poruangrong charging back from joint 13th to within one at 141 after a 69 and compatriot Chamchoi also moving from the same spot to third at 142 with a 70 in a tie with local bet Daniella Uy and steady Taiwanese amateur Hou Yu-Chiang, who both carded 72s, the title chase could go down to the last shot and putt and to the one with the poise and character in such demanding playing conditions.

Thai Jackie Chulya likewise put herself in contention after a 75 as she shot the tournament-best 68 to threaten at joint sixth at 143 with compatriot and Manila Golf leg winner Arpichaya Yubol, who carded a 71.

Unlike Furukawa, Poruangrong lost her momentum at the back after a solid start of four birdies in the first five holes, bogeying Nos. 10, 14 and 16 against birdies on Nos. 13 and 15, but struck a solid approach shot on the 18th to within 4 feet for birdie and the lead until Furukawa

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HE PhilCycling will honor eight gentlemen and a lady for their valuable contribution to Philippine cycling during the 2019 National Road Championships next week in Tagaytay City.

Godfather of Philippine cycling Alberto Lina (Air21-Le Tour de Filipinas), Ernesto “Judes” Echauz (Standard Insurance) and Tagaytay City Mayor Agnes Tolentino lead the honorees who will receive plaques of appreciation during the awards ceremony for the road (massed start) events of the 2019 National Road Cycling Championships on Wednesday at the Praying Hands Monument on Aguinaldo Highway in Tagaytay City.

Sharing the stage are Jose Victor “Vic” Paterno (7-Eleven), Fernando “Dino” Araneta (LBC Ronda Pilipinas), Pablito “Bong” Sual (Roadbike Philippines) and Jeremy Randell Go (Go For Gold).

Paquito Rivas, the undisputed Eagle of the Mountain, will also be honored along with

HE Philippine Olympic Committee (POC) general assembly put its imprimatur on the election of president, chairman and two members of the Executive Board on July 28.

The assembly also approved the appointment of the members of the body that will supervise the elections ordered by the International Olympic Committee (IOC) to resolve the crisis hounding the POC leadership.

A total of 36 out of 45 regular member of the national sports associations (NSAs) which attended the POC extraordinary assembly gave their approval on the exercise at the Manila Golf Club Kamagong Room in Makati City.

Indian Olympic Association President Narinder Dhruv Batra, who was tapped by the IOC and Olympic Council Association as the observer, also gave his blessing to the election.

“I found everything in order and will submit my report to the IOC immediately,” said Batra, who is expected to be back 10 days from now for the election.

Chess Association President Rep. Prospero Pichay Jr., a member of the POC Executive Board, was unanimously chosen to preside over the session with the assembly agreeing to the appointment of Party-list Rep. Conrad Estrella III, Letran Athletic Director Fr. Victor Calvo and Atty. Teddy Kalaw IV of the Philippine Dispute

director; Gilas Pilipinas Coach Yeng Guiao; Gilas PH Youth mentor Sandy Arespacochaga; and collegiate tactician and BCAP President Louie Gonzalez.

This will be the first ever Fiba Coaches’ Summit to be hosted and presented by the SBP and is open to all coaches in the country and neighboring Southeast Asian nations. It is backed by MVPSF, Smart Communications, Blackwater, Chooks-to-Go , Cignal , Mighty Sports, Gatorade, Kopiko, Maynilad Water, Jollibee, Molten and Panda Classique .

The objective is to uplift the knowledge, equip, empower and assist the coaches to continue to improve their team’s performances and grow the sports’ national interest in their respective countries.

Resolution Center Inc. to the election body.

The body will select its chairman and draw the guidelines for the election, including the criteria for the posts to be disputed, according to billiards and snooker Secretary-General Robert Mananquil.

Mikee Cojuangco, the IOC representative to the Philippines who was present at the meeting, reminded the assembly that the POC should send out the notice of election also on Thursday.

Expected to run for the presidency are former POC Chairman and Cycling Head Rep. Abraham Tolentino and athletics chief Philip Ella Juico.

Juico, who was present during the meeting, said he was still thinking it over but continued to appeal for unity among the leaders of the POC. “Any way we still have time to decide and I also have to consult my family about it,” he said.

Tolentino, meanwhile, bared that he had invited Philippine Taekwondo Association President Robert Aventajado to run as POC chairman in his ticket.

The meeting was generally cordial until the

Singaporean Vincent Leow (Bike X), whose passion for the sport knows no boundaries or race.

PhilCycling President Abraham “Bambol” Tolentino will lead the ceremony that will cap the two-day national championships that is calendared by the International Cycling Union or UCI, the world governing body for the sport, as a points-qualifying event for the Tokyo 2020 Olympics.

The championships copresented by the MVP Sports Foundation kick off on Tuesday with the Men Elite and Under-23 and Women Elite and Under-23 individual time trial and Men Elite Team Time Trial races and will culminate with the road races on Wednesday.

The championships main hub will be at the Praying Hands (Tagaytay City International Convention Center) and the Road Races and time trial events will pass through Batangas’s First District—Agoncillo, Balayan, Calaca, Laurel, Lemery, Lian, Nasugbu, Talisay and Tuy.

CARGO MOVERS RIP LADY REALTORS IN 3

MAYUNA FURUKAWA inches closer to crown with a 71 in the second round.

NONOY LACZA

ALL SYSTEMS GO FOR P.O.C. POLLS T

SBP HOLDS COACHES’ SUMMIT HE Samahang Basketbol ng Pilipinas Coaches’ Summit, featuring foreign and local mentors, will be held Saturday and Sunday at the Meralco Fitness Center in Ortigas Avenue, Pasig City.

The sessions, from 9 a.m. to 5 p.m., are in partnership with Fiba Singapore headed

by David Crocker, executive director of Fiba Singapore and Oceania.

Foreign clinicians are Damian James Cotter, an Australian basketball coach with 17 years of national coaching experience, and Dean Vickerman, current head coach of Melbourne United of the National Basketball League.

Local clinicians include multi-titled Coach Jong Uichico, SBP Coaches Academy

grabbed it late in the day.

“Strong wind caught me in the back nine,” said Poruangrong, still in pursuit of a maiden win on the local circuit backed by Custom Clubmakers, Meralco, K&G Golf Apparel, BDO, Sharp, KZG, PLDT, Empire Golf and Sports and M.Y. Shokai Technology Inc. “I’ve been campaigning her the past two years but no success.

Hopefully, I make it this time,” said the 25-year-old Poruangrong, hinting at a closing five-under card to realize a dream LPGT championship.

Despite her scrambling round that featured three birdies against the same number of bogeys, Uy also remained upbeat of her chances for a breakthrough win after finishing second to Pauline del Rosario at Royal Northwoods last April.

Princess Superal, who lived through the first round ordeal with a 71, birdied Nos. 3 and 4 as the former LPGT Order of Merit winner, on a break from Japan LPGA Step Up Tour, pressed her title bid. But after birdying No. 13 to negate her bogey on the sixth, the former US Girls Juniors champion dropped three strokes on the par-4 14th and failed to check her skid as weather conditions kept changing in a flash, bogeying Nos. 15 and 17 to end up with a 75. She fell to joint 11th at 145, now six strokes off Furukawa.

PhilCycling honors sport’s benefactors

eligibility of certain NSA members was raised with weightlifting chief Monico Puentevella engaging POC Membership Committee Chairman Robert Bachmann to a debate.

Bachmann said that Puentevella’s association lacks weightlifting’s international federation’s recognition, as well as Securities and Exchange Commission (SEC) registration.

Puentevella then engaged Bachmann in a heated exchange of words, prompting Pichay to call for a recess.

The assembly later agreed to allow Puentevella to vote on behalf of the weightlifting association, as well as the sepak takraw association headed by Karen Tanchancho-Caballero, whose group also lacks SEC registration.

The assembly also agreed to elevate the Skateboarding and Roller Sports Association of the Philippines Inc. as regular member and will be able to cast its vote in the polls. Skateboarding will make its debut as a medal sport in the 2020 Tokyo Olympic Games.

F2 LOGISTICS’ Desiree Cheng scores against Sta. Lucia Realty’s Pam Lastimosa and Mic laborite.

F

2 Logistics brushed off a rusty start before catching fire in the second set to massacre Sta. Lucia, 25-22, 25-3, 25-12, in the Philippine Superliga All-Filipino Conference on Thursday at the Filoil Flying V Centre in San Juan.

With Kalei Mau anchoring the offense, the Cargo Movers turned a 10-19 deficit in the first set into a rout to remain flawless in the tournament.

Mau finished with 13 points while Ara Galang had 11 points and 15 digs and Majoy Baron asserted her might at the defensive end with five blocks for nine markers for the Cargo Movers, who have yet to lose in eight matches.

Dawn Macandili was also instrumental with 24 digs and seven excellent receptions for F2 Logistics, which committed only four errors in the entire ball game.

After trailing by nine, 10-19, F2 Logistics stepped on the gas and captured the first set at 25-22.

Then, it was all Cargo Movers from there as they destroyed the sluggish Lady Realtors on both ends to finish the second set with 25-3 count—the biggest margin ever tallied in the six-year history of the tournament.

Sta. Lucia’s three points in the second set came from an ace

by Andrea Marzan, a successful challenge by Head Coach Babes

Castillo and an attack from skipper Pam Lastimosa.

“I was surprised. I didn’t expect that huge rout in the second set,” said F2 Logistics Coach Ramil de Jesus, whose wards turned the second set into a virtual workout against the lowly, uninspired Lady Realtors.

“We didn’t have a service error in the second set and Sta. Lucia failed to pass the ball.”

From trailing 10-19 in the opening set, F2 Logistics unloaded a 12-2 run capped by Aby Maraño’s back-to-back aces. Then Galang delivered two consecutive attacks to take the 22-21 lead before Amanda Villanueva stopped the bleeding.

But the Cargo Movers completed the first set comeback with a service error from Rebecca Rivera followed by a block from Baron and Galang’s kill.

“All of them were waiting Sta. Lucia to commit an error in the first set that’s why I told them we can’t play like that. We should be aggressive,” de Jesus said.

“We cannot rely on Kalei alone, everyone should be reliable.

Luckily, the lead was not that huge and eventually we got it sparked

by Aby.” Marzan and Roselle Baliton came through with eight and seven points, respectively, for the Lady Realtors, whose lone win in nine matches came from rookie team Marinerang Pilipina.

MANNY OR KEITH?

Manny Pacquiao (left) and American Keith Thurman square off during a media presentation at the MGM Grand on Thursday ahead of their World Boxing Association super welterweight fight this Sunday in Las Vegas. COURTESY WENDELL ALINEA

Sports BusinessMirror

C4 Friday, July 19, 2019

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

MEXICAN PRESIDENT CUTS SPORTS BUDGET Seldom has a leftist been so obsessively austerityminded as Mexican President Andres Manuel Lopez Obrador. In his first seven months in office, he has cut government posts and salaries, and drastically reduced spending on perks and benefits.

Lawyer Mexico’s first body builder at Pan Am Games

M

EXICO CITY—The sun hasn’t even risen and the clang of metal is reverberating through a gym near Mexico City. On a frantic mission to sculpt his body, Carlos Suárez powers through another day of his heavy weight routine.

There is not much time left before Suárez will be the first Mexican to participate in the bodybuilding competition at the Pan American Games, which begin July 26 in Peru.

Suárez starts his workout before dawn and spends six hours every day getting his body in peak shape for the games. Combined with his other work and family responsibilities, the workers’ rights lawyer and law professor doesn’t take many breaks.

“It’s tough but I think it’s worth it for this dream,” Suárez said during an interview at his home in Toluca, about 63 kilometers from Mexico’s capital. “I have a big responsibility in being able to represent the country and I’m working hard to be able to finish with a good result.”

This year’s games mark the first time that bodybuilding is included as an official

M

EXICO CITY—The Mexican Olympic Committee said Wednesday it will no longer be able to offer food, lodging and medical services at its main sports training complex, the latest casualty in a round of deep budget cuts by President Andres Manuel Lopez Obrador.

Seldom has a leftist been so obsessively austerity-minded as Lopez Obrador. In his first seven months in office, he has cut government posts and salaries, and drastically reduced spending on perks and benefits.

He also has cut his own salary and plans to sell off the presidential jet, saying: “We cannot have a rich government with the people poor.”

Lopez Obrador describes his financial plan as “republican austerity.”

But his cuts have begun to seriously hit everyone from athletes to archaeologists, who worry they won’t have enough money to carry out essential tasks. Critics say his government is spending the same amount of money, just reallocating it to different things.

The Mexican Olympic Committee said it lacks the $4.7 million needed to run the

competition, after being a demonstration sport at the 2015 Pan American Games in Toronto. For now, it’s not included as part of the official competitions for the 2023 games in Chile, and it has yet to be included in the Olympics. “It’s going to be a historic moment for my sport... It’s something very beautiful, it will be a party for my sport,” Suárez said.

Another Mexican, Xiomara Valdivia, will take part in this year’s Pan American Games in the women’s fitness category. Both she and Suárez receive basic support from the Mexican Federation of Bodybuilding, but they haven’t gotten any government grants.

Without the financial backing that Mexican athletes in more popular sports receive, Suárez has had to juggle between long hours in the gym, the classroom and the courtroom. “I appreciate how this sport has been a big part of my formation,” he said. “I’ve learned to take advantage of life, which is a short, fleeting moment.”

With bodybuilding excluded from the Olympics, it has been looked at as more of an aesthetic discipline than an organized sport, and many people have doubts about it.

When he was 13, he began to get into bodybuilding despite protest from his mother.

“She didn’t want me to do it because even then and still today the sport has been linked to steroid consumption and other myths,” Suárez said. AP

BODYBUILDERS Xyomara Valdivia and Carlos Suarez train for the bodybuilding competitions for the Pan Am Games as their Mexican President Andres Manuel Lopez Obrador speaks to the Mexican delegation in Mexico City on Monday. AP

Olympic sports center in Mexico City with full services. The complex has track and pool facilities, as well as a gymnasium and velodrome. This year, government funding for sports is about 25 percent below 2018 levels.

Also this week, researchers and archaeologists at the National Institute of Anthropology and History said about 200 employees have been laid off since the start of the year, and more layoffs are feared.

“We have gone from republican austerity to Franciscan poverty,” said Joel Santos, head of the researchers’ union at the institute. Never well-paid, many experts are employed on temporary contracts.

Across the government, Lopez Obrador’s administration has eliminated consultancy and management positions, and thousands more public servants have resigned.

Economist Valeria Moy says the government has plenty of fat to trim, but notes that this year’s federal budget of 5.8 trillion pesos ($304 billion) is about the same size as the 2018 budget. Lopez

Obrador took office in December, allowing him to craft the 2019 budget.

“There is money,” said Moy, “it’s just being redirected” to the president’s social and infrastructure projects, some of which appear to be “almost whims” that lack sound research to determine their viability or potential negative impacts.

Environmentalists and investors are concerned about several of the president’s top infrastructure projects, such as a train through the Yucatan Peninsula that has commenced construction without studies to show its impact on local wildlife such as jaguars.

Another pet project, the multibillion-dollar Dos Bocas oil refinery in Lopez Obrador’s home state of Tabasco, is being undertaken by the heavily indebted state oil company Petroleos Mexicanos.

“It’s what the president decides, what the president wants—and that’s what’s done,” said Moy. Finance Minister Carlos Urzua resigned last week citing similar concerns, saying the administration has taken public policy

decisions “without sufficient sustenance.”

Everyone from scientists to doctors and police warn that the president is cutting to the bone.

Many blame the May air pollution emergency in the capital on overambitious budget cuts, because the Environmental Ministry lacked the tools and manpower to detect and combat brush fires that carpeted much of the country in heavy smog.

The country’s Science and Technology Consultative Forum, a sort of umbrella group of science academies and businesses groups, has warned that the cuts threaten research into everything from chronic diseases to climate change to agriculture.

“All of these activities could be seriously compromised if the austerity measures are applied indiscriminately,” the forum said in a statement earlier this year. “If that happens, it would be an irredeemable setback in Mexico’s effort to achieve robust national development, and would make us even more dependent on what occurs beyond our borders.” AP

SOUTH KOREA FACES POTENTIAL WCUP QUALIFIER IN NORTH KOREA

S

EOUL, South Korea— The South Korean men’s national soccer team’s path to the 2022 World Cup in Qatar will include a crucial road match against North Korea, but it’s unclear whether a rare match between the Koreas in Pyongyang will materialize considering the political tension between the rivals.

With the Koreas, there’s never a separation between sports and politics. The North has previously refused to allow South Korean players to enter the country for World Cup qualifiers, forcing Fifa, world soccer’s governing body, to relocate its home games to China.

Drawn to the same Asian qualifying group on Wednesday, the Koreas are scheduled for a match in the North on October 15 and in the South on June 4 next year.

Inter-Korean relations have cooled amid a deadlock in

nuclear negotiations between Washington and Pyongyang.

European glamor teams such as Manchester United and Real Madrid, meanwhile, do not visit Mongolia on lucrative preseason tours, but this oft-forgotten Asian soccer outpost is about to get a taste of the big time on the qualifying road to the 2022 World Cup. Soccer is far from the most popular sport in Mongolia but that may start to change after the country was drawn Wednesday with its first-ever appearance in the second round of World Cup qualifying with matches against Japan.

That could mean a visit from Shinji Kagawa on March 31 and other players on the side who compete in the top European leagues.

Kagawa is one of the few public signs of the sport on the congested streets of Ulaanbaatar, home to around half of the country’s population

of 3 million. The Borussia Dortmund player beams down from billboards that advertise the partnership between the German club and Mongolian Airlines. “To play a big team like Japan will be very meaningful for Mongolia,” National Team Coach Michael Weiss told The Associated Press. “Football is not a very big thing in Mongolia though there is interest and it is becoming more fashionable.”

“Such a game will help promote the sport in a country without genuine professional clubs. More interest and then sponsors come on board then so does the government and then there is progress.”

Mongolia, ranked 187th in the world, edged past Brunei Darussalam in the first round in June to earn a place in Group F in the second round and eight much-needed competitive games. The climax will come against Japan. The Samurai Blue, ranked 28th, reached the last 16

of the 2018 World Cup. They will likely face subzero temperatures even at the end of March. The harsh Mongolian climate sees long winters with the mercury ranging from between -20° Celsius (-4° Fahrenheit) to -40°C (-40F) and does not lend itself to soccer.

Archery, horse racing and wrestling are all more popular.

“Of course, the climate makes it hard but, even in terms of facilities and general conditions, we are far behind the rest of Asia,” Weiss said. “I am not talking about Japan, China or South Korea but places like Bangladesh and Laos—these are the countries we have to compete with.”

In order to do so, the other six games in the group are as important as the meetings with Japan. The second stage kicks off on September 5 with a home game with Myanmar before meetings with Tajikistan and Kyrgyzstan. AP

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Merciful God

EAR God of our ancestors, You are kind and forgiving to all who cry out to You in faith. In confidence we pray: Oh God, make haste to help us. Heal divisions in Your Church and inspire ecumenical dialogue. Raise up courageous and faith-filled women and men to advocate justice for victims of abuse.

Help us to reach out to those who are lonely, grieving or sorrowful.

Gladden the hearts of those who are feeling miserable because they feel they are not loved. May God show us mercy and grant us salvation, through Jesus our brother. 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

GAB FAB: MYX VJ ANTON FINDS HIS INSPIRATION D4

Friday, July 19, 2019

D1

25 YEARS LATER, ‘THE

LION KING’ ROARS AGAIN

THE Lion King is three years in the making with some of the biggest names in entertainment, including Beyoncé, and the expectations couldn’t be higher. DISNEY

L

BY LINDSEY BAHR The Associated Press

OS ANGELES—It was just a few months ago that director Jon Favreau was sitting in a scoring session with composer Hans Zimmer for The Lion King, his ambitious and technology-driven reimagining of the 1994 animated classic, and he and everyone else in the room were getting a little emotional.

It’s no wonder: They were recording the music for the stampede (yes, that stampede).

“Working on it doesn’t make it any less emotional,” Favreau said in an interview earlier this year.

And don’t even get him started on what it was like to listen to James Earl Jones record his lines as Mufasa.

The Lion King is three years in the making with some of the biggest names in entertainment, including Beyoncé, and the expectations couldn’t be higher. None of the other major studios have even dared to go up against it in theaters this weekend.

Early tracking suggest that it could make as much as $150 million in its first weekend in North America, and it’s already grossed over $55 million in China.

It helps, of course, that the material is familiar to most of the world already. The animated film, which opened in June 1994 at the peak of the Disney animation renaissance, went on to become a critical hit, the highest-grossing film of the year at the worldwide box office (it was second domestically to Forrest Gump), a two-time Oscar winner for Zimmer’s score and the song “Can You Feel the Love Tonight,” and a Broadway show—now the third-longest running and one of the most successful in history. So it was only a matter of time before the Walt Disney Co., in this new era of liveaction remakes of its animated library which this year included both Dumbo and Aladdin, turned to one of its most beloved.

Favreau wasn’t even finished with his version of The Jungle Book when he started inquiring about plans for The Lion King. He’d learned so much about motion capture technology and had a team he knew how to collaborate with. He was ready to take it to the next level. So, he raised his hand for the big job.

“I kind of lobbied for it,” Favreau said.

The studio waited until The Jungle Book was out to give him the official word, but the 2016 movie which scored with both critics and audiences turned out to be a pretty good audition. And he set to work prepping this “live-action” Lion King, which, it should be said, isn’t live-action at all. It’s a combination of virtual reality and “keyframe animation,” which means that the animals are all animated by hand, “just like all the old animated movies,” Favreau explained. In other words, if you visited the set, you would not find some gargantuan soundstage and a bunch of actors running around acting like lions while covered in motion capture bodysuits and dots.

Rather, it was more of a “black box with people wearing headsets and VR goggles.”

The VR was used to “drive the camera” and “instead of just one layout artist on a computer, we had a full crew operating virtual cameras in a virtual reality environment,” he said.

That includes esteemed cinematographer Caleb Deschanel, a six-time Oscar nominee.

The resulting special effect is that “it should feel like a live-action movie,” he said, even if it’s technically animated.

For the cast, which includes Donald Glover as Simba, Beyoncé as Nala, Chiwetel Ejiofor as Scar, Seth Rogen as Pumbaa and Billy Eichner as Timon, the process was pretty similar to what they would have done for a traditionally animated movie, but Favreau also filmed the actors during their voice recording sessions to help the animators. He knew it would look to weird to try to translate human

“It’s about the life cycle and coming of age and saying goodbye and all the things that we all deal with,” says Jon Favreau, the director behind the reimagining of the animated classic The Lion King. “It’s not a story that’s often told but it’s a story that’s probably the most universal story there is.” expressions onto the cats’ faces so instead emotion is conveyed through body language (and a little mouth moving for the dialogue).

Anyone who’s seen the marketing, thus far has no doubt recognized some familiar touchstones from the 1994 film. So familiar, in fact, that many have wondered if it was going to be a shot-for-shot remake.

Favreau said that isn’t the case.

“It diverges quite a bit,” he said. “It’s much longer than the original film. And part of what we’re doing here is to [give it more dimension] not just visually but both story wise and emotionally.”

The main story points are the same, but like the stage musical, there will be differences, too. Plus, he wanted to capitalize on the uniqueness of his actors.

With Beyoncé, for instance, he even changed the way he directed her and approached her animation after seeing her stage show and all the personas she channels for each song. “Nala is a very powerful character who’s a warrior and also has a big heart and encapsulates a lot of different archetypes,” he said. “I wanted the way she was choreographed and with lions and the fight scenes to have a resonance

with the power with which [Beyoncé] choreographs her stage show.”

And, of course, there’s the music, which is just as important as the images in conjuring up all the emotion and nostalgia associated with the original.

Zimmer has updated and built upon his own score from 25 years ago, which will also integrate music from the stage show and the 2D film.

“It’s quite a lush version of the soundtrack and the score,” Favreau said.

There will be some recognizable songs, including “Can You Feel the Love Tonight,” “Hakuna Matata,” “Be Prepared,” “I Just Can’t Wait to Be King” and “Circle of Life,” plus some new ones, too.

And the hope is that this version resonates not only with the generations that grew up with The Lion King, but with a new batch of kids as well who may be experiencing it for the first time this way.

“It’s about the life cycle and coming of age, and saying goodbye, and all the things that we all deal with,” Favreau said. “It’s not a story that’s often told but it’s a story that’s probably the most universal story there is.” n

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Society BusinessMirror

Friday, July 19, 2019

www.businessmirror.com.ph

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Today’s Horoscope

RUSTAN Commercial Corp.

President Donnie Tantoco (fifth from right) with celebrity guests

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Trai Byers, 35; Jared Padalecki, 36; Benedict Cumberbatch, 42; Brian May, 71.

HAPPY BIRTHDAY: Engage in pastimes that interest you this year. A change will stimulate your imagination.

The ideas you come up with will be met with opposition, but as you move forward, your progress and success will sway those who have taken a wait-and-see approach. Make love and romance priorities in order to stabilize your relationship with someone special. Your lucky numbers are 7, 13, 18, 21, 27, 35, 43.

a

ARIES (March 21-April 19): Keep busy and lend a helping hand. Do your best not to make snap judgments or decisions that can leave you in a vulnerable or awkward position. Make adjustments and proceed forward with a plan. HHH

b

TAURUS (April 20-May 20): Don’t underestimate what someone else might say or do. Be fully prepared to counter any aggressive action with facts. Keeping a level head will help you bring about positive change without upsetting someone who could cause problems for you. HHH

c

GEMINI (May 21-June 20): Interact with people who have something to contribute. Whether you are challenged physically or mentally, knowing your opponent will help coax those on your team to help you gain acceptance and accomplish what you set out to do. HHHHH KYLIE VERZOSA and Jake Cuenca

DONNY PANGILINAN

CHIE FILOMENO

BRET JACKSON

ISSA PRESSMAN

Cosmopolitan heritage T HE French luxury leather goods company Longchamp breaks all the rules of the usual solemn, static and status-oriented monograms with LGP, a celebration of today’s urban and street lifestyles in bags, accessories and ready-to-wear marked by a sense of fun, intrigue and irreverence.

The Longchamp LGP launch was held at its pop-up store in South Court, Power Plant Mall, and seen in the gaggle of well-heeled guests were actor and singer Donny Pangilinan, actress and Miss International 2016 Kylie Verzosa, actor Jake Cuenca, actress and dancer Chie Filomeno, stylist Daryl Chang, rapper Bret Jackson, and fashion mavens Issa Pressman, Mari Jasmine, and Patricia Henson. Beats by Ornusa Cadness kept the evening fun and pumped. n

CANCER (June 21-July 22): Look for the outlet that excites you most. Getting involved in something you feel passionate about will encourage you to put in the time and effort to surpass your initial plans. A partnership will undergo a positive change with a kind gesture. HH

e

LEO (July 23-Aug. 22): Express your intentions and listen to suggestions. Finding a way to please everyone won’t be easy, but it will help you avoid discord. Too much of anything will lead to loss. Distance yourself from indulgent or narcissistic people. HHHH

f

VIRGO (Aug. 23-Sept. 22): Focus on yourself and how best to improve your health, physical appearance and important relationships. Putting more thought into the changes you want to bring about will ensure help moving forward.

Take the initiative and make things happen. HHH

g

LIBRA (Sept. 23-Oct. 22): If you have to use force, you should rethink your plan of attack. An intelligent idea that is wellpresented will help you weed out those who aren’t interested, leaving you with the right people to help you put your plans in motion. HHH MARI JASMINE

PATRICIA HENSON

h

SCORPIO (Oct. 23-Nov. 21): Rely on your basic instincts when you feel the urge to indulge in something you know you shouldn’t. Temptation will be the negative in your life, while health and love will encourage progress. Lean toward the positive and forgo a senseless battle. HHH

DARYL CHANG

Australian Embassy awards outstanding Filipino alumni THE Australian Embassy celebrated the exceptional achievements of Australian-educated Filipinos at the 2019 Australian Alumni Excellence Awards. The annual awards night was held at the historic The Manila Hotel, site of the first Australian Consulate-General in the Philippines.

Australian Ambassador to the Philippines Steven J. Robinson AO said, “Our alumni are excelling in diverse fields, in the Philippines and on the global stage. Our annual Australian Alumni Excellence Awards highlight the contribution alumni make to our two countries. Last year, we honored Gen. Benjamin Madrigal, who went on to become the Armed Forces of the Philippines Chief of Staff. This year’s awardees are equally inspiring and are making significant contributions to the Philippines.”

Among the 15 finalists, four were honored with the Alumnus of the Year Award, the Excellence in Innovation Award, the Young Achiever’s Award and the Special Citation for their achievements. Joji Ilagan-Bian is the 2019 Alumnus of the Year awardee, for her significant contribution to the Technical and Vocational Education Training (TVET) sector in Mindanao; Dr. Rene Abesamis, honored with the Excellence in Innovation Award for his contributions to Philippine and global marine science; Dr. Jason Alacapa, the Young Achievers Award winner who currently leads the

d

i

SAGITTARIUS (Nov. 22-Dec. 21): Easy does it. Rely on your intelligence and ability to gather the facts, not what someone else leads you to believe. Keep your money, possessions and personal identity in a safe place. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): The art of the deal is in the palm of your hand. Refuse to let greed or emotions ruin what you’ve worked so hard to acquire. Know your boundaries and what you are up against. Be aware of when to say no. HH

k FROM left: Dr. Jason Alacapa, winner of Young Achievers Award; Prof. Abelardo Apollo David Jr., Special Citation recipient; Joji Ilagan-Bian, 2019 Alumnus of the Year; Australian Ambassador Steven J. Robinson AO; and Dr. Rene Abesamis, Excellence in Innovation awardee.

implementation of innovative health systems for the World Health Organization STOP TB Partnership; and Prof. Abelardo Apollo David Jr., recipient of a Special Citation for his contribution in empowering persons with disabilities (PWDs) and children with special needs.

Each year, close to 13,000 Filipinos choose to study or

train at Australia’s world-class institutions. Distinguished Australia Global Alumni include Cabinet secretaries and other high-level government officials; scientists and esteemed members of academe who are pioneers in their fields of study; and business people and entrepreneurs who are innovating and creating economic opportunities.

AQUARIUS (Jan. 20-Feb. 18): Emotional or aggressive behavior will be upsetting.

Walk away from anyone trying to get you to part with your money. An aggressive sales pitch must not undermine your sense of what you need and what you can do without. HH

l

PISCES (Feb. 19-March 20): Look for the best deal and offer the most efficient suggestions and help. Don’t let someone in an authoritative position put undue pressure on you to reveal information that could set you up for a fall. HHHH BIRTHDAY BABY: You are aggressive, proactive and ambitious.

You are opportunistic and outgoing.

‘bad actor’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Old proverb 4 Electrically versatile 8 Pile up 13 Lead-in to “angle” or “age” 14 Sandal holder 16 48 Hrs. star Nick 17 Vinegar complement 18 Soporific poem for summer afternoons?

20 Meat rater: Abbr.

22 They make many connections at work 23 Rodent not worried about individual glory?

26 Mani/pedi target 27 Small, fast fish 32 A boot may attach to one 34 Comics punch sound 38 Mississippi feeder 39 Results of clothes going unwashed for too long?

43 Jai ___ 44 Back burner’s place 45 “___ your words!” (preschool scolding)

6 River-mouth formations 4 49 Periods 51 Liver-based French crackers?

57 Sale type with huge discounts 61 Simple fastener 62 “Pound! Pound! Pound!”?

65 Genes material 66 Sooner State residents 67 Goddesses of the seasons 68 Archaic contraction 69 Like the Tudors, originally 70 “Auld Lang ___” 71 Thespian who makes this puzzle’s theme entries corny DOWN 1 “I’m a little teapot/Short and ___” 2 Come up 3 Feral creature 4 Floor wood that can look whitish 5 El station letters 6 Child’s first responder, informally 7 Places to make s’mores 8 Big Turkish city 9 Chandon’s champagne partner 10 Dog food brand 11 Mix, as cocoa

2 Brief intervals 1 15 Foot expert?

19 Authority, to hipsters 21 Org. led by an MD 24 Scenic walk 25 Banned apple spray 28 “Vive le ___!”

29 Increment of 0.001 30 Half of zwei 31 “The Bachelorette” flower 32 Roe source 33 Trendy smoothie vegetable 35 Afternoons, briefly 36 No longer fashionable 37 Intl. mercantile group 40 “Bottomless” hole 41 Claim confidently 42 Trillion: Prefix 47 All over again 48 Go up fast 50 Checkup sounds 52 Creep (along) 53 Amazon speakers 54 Noted San Francisco boulevard 55 Craze 56 Tic

7 Mess offering 5 58 Michigan or Ontario 59 ___ and the Detectives (children’s book) 60 Iowa college town 63 Palindromic Bobbsey twin 64 Letter-shaped shirt

Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, July 19, 2019

NATIONAL Resilience Council (NRC) Cochairman Hans Sy (right) and SM Supermalls COO Steven Tan

Breaking up is hard to do CAGAYAN de Oro City Mayor Oscar S. Moreno and NRC President Antonia Yulo-Loyzaga

CELEBRATING RESILIENCE IN a calamity-prone country like the Philippines, it is important to always be prepared. This is why the top executives from SM Prime, the National Resilience Council (NRC) and the local government of Cagayan de Oro (CDO) collaborated for the AdoptA-City campaign.

The Adopt-A-City campaign is a city-specific partnership model to help decrease the risks of natural disasters in cities across the Philippines.

SM is the first private organization to take part in the initiative. SM has pledged to support three cities— Cagayan de Oro City, Naga (Bicol) and Iriga—to help them prepare for and immediately recover after unfavorable occurrences.

“Disaster resiliency is not the job of the government alone. It is a job that can be successful in collaboration between the government and the private sector,” said NRC Cochairman Hans Sy. The only Filipino global board member of the UNDRR ARISE, Sy enabled the partnership along with NRC President Antonia Yulo-Loyzaga and CDO Mayor Oscar Moreno.

In line with their disaster resiliency efforts, SM Supermalls has also been developing sustainability projects and eco-friendly initiatives.

“We began recycling our water use even when the rate of water was still cheap, and our malls have catchment basins to avoid flooding,” said SM Supermalls COO Steven Tan. With over 70 malls nationwide, SM continues its mission-vision of committing to a better quality of life for the communities it serves by supporting programs and activities that are socially responsible and environmentally sustainable.

SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

O

NE of the key reasons many couples break up is disloyalty. Or if you want to put it more pointedly, infidelity.

Suddenly, one of the partners feels she is being taken for granted. She is not appreciated enough by her mate, despite the sacrifices made in the relationship and sticking by him no matter what.

Her partner thinks he is not getting any rewards by staying in this current relationship, and starts looking around for the next new hottie with whom he can promise the moon and the stars.

As her partner’s affair with another continues, she starts blaming herself. She thinks she has nothing more to give, nothing more exciting to offer to satisfy her partner and keep him at bay. Despite the many ways she has tried to appease him or get him to notice her again, at some point she will wake up to the fact that all these are for naught. She finally realizes it is no longer healthy for her to stay in this relationship.

It’s time to leave everything behind, including those wonderful memories she shared with him.

Of course, there were happy, even incredibly joyful memories. At the beginning of any relationship, there is mutual excitement and giddiness of getting to know each other, and finding out what makes each other tick. You deal with both the happy and unhappy surprises that crop up along the way, like the quirks in the bathroom, or the “hangriness” from eating one’s breakfast late, or talking way too much on the phone with your gal pal, even as he likes picking his teeth

with a knife after a meal.

Both of you take everything in stride, laugh over the weirdness or lovable traits that make each of you unforgettable characters.

Unfortunately, not all that can last forever. *Sigh* And so, I am on the brink of doing what many deem to be the unthinkable.

After decades of being in this ever-precious relationship, I am finally considering to throw in the towel and break up...with my mobile phone service provider.

You cannot blame me though. I have been a loyal customer for so many years; I have had the same *0918 number since I first signed up to that company’s service in the 1990s. It was back when mobile phones were heavy gigantors, with those tiny antennae you had to physically slip out from their slots. And I’ve had the same 2500 phone plan, which has always been apropos for my budget.

One would think over the years, my mobile phone usage would increase. But with the advent of Facebook Messenger, Instagram and Twitter direct messaging, Viber and even Signal—the latter I am subscribed to just because of a good friend stateside who distrusts other messaging services— I hardly text and call my contacts using the regular cellphone service.

Which is probably the reason the marketing “geniuses” at this company decided to revamp the company’s phone subscription plans. Hey if you don’t call or text, maybe you can use more gigabytes surfing the Internet or streaming those danceable Spotify tunes or Netflix movies.

I get where the company is coming from. They need to increase profits to help them modernize and boost operations, as well as build more cell sites and towers to keep its subscribers always connected, reaching the farthest areas in the country with a clear signal. But they reworked their subscription plans at 1000-increments that someone like me, who has been happy with the same 2500-phone plan, will have to choose either the 1999 or the 2999 subscription.

Sure the company dangles some freebies in terms

of call minutes, free texts and Internet service, but after my computations, it will end up with me forking over more money for less service than I usually get.

Seriously, even the folk at the company’s sales centers agree that my current phone plan is still far superior to the new plans they are offering right now. (In contrast, the rival mobile phone service still has the plan I need.)

I just feel that after yeeeeaaaaars of loyalty to this mobile service provider, I feel I have not gotten any respect of late. In the last few years, I noticed it constantly offers nifty new cellphones to attract new subscribers, while giving the atrocious, unwanted phones to those of us loyally renewing our plans. (I can’t help but be jealous of the subscribers of its rival, who are fabulously rewarded for their loyalty with the latest phones. Of course, their customer service leaves a lot to be desired, but it’s probably a small price to play for the great free stuff its subscribers receive.)

Plus its points and payments system suck. I couldn’t even link my rewards card to their online payments app, while their subscription app no longer works after a recent update, despite inputting my usual username/contact number and password.

For sure, we’ve had great times. I have appreciated the way my mobile service provider allows me to receive a strong cellphone signal no matter what remote barangay I am in. And while abroad, it does have affordable Internet rates, although their call-text plan leaves much to be desired, as they are at the mercy of the foreign carrier they are partnered with.

But this is like saying while one’s significant other continues to be extremely handsome, he has developed bad breath, is just a lazy bum who can’t pick up his clothes to shoot in the laundry basket, or can’t stop playing with the ladies.

The pros of leaving the relationship now outweigh the cons of sticking with it. At the end of the day, I should be able to count on the respect accorded to me by the person (or company!) I have a serious relationship with. Sans that, perhaps it’s now time to break up and walk away. n

about how often they read the Bible to make it seem as if they had similar interests.

The second kind of lies were related to availability management, with daters describing why they couldn’t meet, or giving excuses for radio silence, like lying about their phone losing service.

These deceptions are called “butler lies” because they’re a relatively polite way to avoid communication without completely closing the door on the connection. If you’ve ever texted, “Sorry I went AWOL, my phone died,” when you just didn’t want to talk, you’ve told a butler lie.

Butler lies don’t make you a bad person. Instead, they can help you avoid dating pitfalls, such as appearing always available or desperate. n PURPOSEFUL OR PERVASIVE LIES? While deceptions over self-presentation and availability accounted for most lies, we observed that only 7 percent of all messages were rated as false in our sample. n WHY SUCH A LOW DECEPTION RATE? A robust finding across recent deception studies suggests that the majority of people are honest and that there are

only a few prolific liars in our midst.

Lying to appear like a good match or lying about your whereabouts can be completely rational behaviors. In fact, most people online expect it.

There’s also a benefit to lying just a little bit: It can make us stand out in the dating pool, while making us feel we’ve stayed true to who we are.

However, outright and pervasive lies—mentioning your love for dogs, but actually being allergic to them—can undermine trust. One too many big lies can be problematic for finding “the one.” There was another interesting result that speaks to the nature of deception during the discovery phase. In our studies, the number of lies told by a participant was positively associated with the number of lies they believed their partner told.

So if you’re honest and tell few lies, you think that others are being honest as well. If you’re looking for love but are lying to get it, there’s a good chance that you’ll think others are lying to you, too.

Therefore, telling little lies for love is normal, and we do it because it serves a purpose—not just because we can.

The lies we tell on dating apps to find love

BY DAVID MARKOWITZ University of Oregon NEARLY one-fourth of young adults are looking for love through dating websites or apps.

This relatively new form of courtship can give you access to a large pool of potential partners. It also presents a unique set of challenges.

For example, you’ve probably heard about—or have personally experienced—a date that was planned online but didn’t go well for one of the following reasons: He was shorter than his profile said he was, she looked different in person than she did in her photos, or he was talkative over text but it was like pulling teeth at dinner. In other words, a person’s profile—and the messages sent before a date—might not capture who a person really is.

In a 2018 paper, my colleague Jeff Hancock and I wondered: How often do people who use dating apps lie? What sort of things are they prone to lie about? n ‘MY PHONE DIED AT THE GYM.’ Our studies are some of the first to address these questions, but others have also examined deception in online dating.

Past research focused largely on the dating profile.

Studies have found, for example, that men tend to overstate their height and lie about their occupation, while women understate their weight and tend to have less accurate photos than their counterparts.

But profiles are only one aspect of the online dating process. Only after messaging your match will you decide if you want to meet him or her.

To understand how often people lied to their partners and what they falsified, we evaluated hundreds of text messages exchanged after daters swiped right, but before they met—a period we call “the discovery phase.” We recruited an online sample of over 200 participants who provided us with their messages from a recent dating conversation and identified the lies, with some participants explaining why these messages were deceptive and not jokes.

We found that lies could be categorized into two main types. The first kind were lies related to self-presentation. If participants wanted to present themselves as more attractive, for example, they would lie about how often they went to the gym. Or if their match appeared to be religious, they might lie

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Show BusinessMirror

Friday, July 19, 2019

www.businessmirror.com.ph

Myx VJ Anton finds his inspiration DINGDONG DANTES serenades a lucky fan onstage at the Pinoy Fiesta and Trade Show Toronto.

GAB FAB JET VALLE

@jetvalle

DINGDONG meets the Kapuso abroad in Canada after the Pista ng Bayan 2019.

DINGDONG HEATS UP PINOY FESTIVITIES IN CANADA

GMA fans in Canada had the time of their lives when they got the chance to bond with marquee star Dingdong Dantes as he joined the celebrations for the Philippine Independence Day, as well as the Filipino Heritage Month there.

Dingdong’s first stop was in Toronto last June 22 for the “Pinoy Fiesta and Trade Show Toronto” organized by the Philippine Canadian Charitable Foundation (PCCF). During the event, which was held at the Metro Toronto Convention Centre Hall, Dingdong crowned the newest Miss Teen Philippines Canada 2019 and Miss Philippines Canada 2019.

He also performed OPM songs for GMA fans who gladly sang along with him. The crowd got even more excited when Dingdong serenaded a lucky audience onstage.

After the Toronto festivities, Dingdong went to Vancouver on June 29 to perform at the “Pista ng Bayan 2019” organized by the United Filipino-Canadian Associations in British Columbia (UFCABC). After his performance at the Vancouver Art Gallery, the star personally thanked his fans through a special meet-and-greet event. Under the heat of the sun, GMA supporters were all smiles while taking selfies and singing with him. The StarStruck host was even game to take more photos with other Pinoys he met at the airport in Canada before heading back home.

Dingdong shared how much he enjoyed his Canada trip.

“The long flight to Canada was worth it because when we got there, we really felt the warmth and excitement of GMA fans abroad. It’s just right for me to return that much love and energy to them. Nagkantahan kami and we really had fun. Thank you so much GMA Pinoy TV for giving me the opportunity to meet and talk with our Kapuso in Toronto and Vancouver. I really hope I get to see them again soon.”

Meanwhile, GMA fans can catch Dingdong as the host of the drama anthology series Tadhana, the talent search StarStruck, and the upcoming Descendants of the Sun via GMA Pinoy TV, which is now available in Toronto via Bell, Cogeco and Rogers, and in West Canada via Shaw and Telus.

GMA Pinoy TV (www.gmapinoytv.com) is the exclusive media sponsor for both events as it continues to provide world-class entertainment for Filipinos abroad and help them reconnect with their kababayans and feel closer to home.

O

NE of my most favorite movies is The Talented Mr. Ripley. It is a compelling, almost intoxicating film that boasts of great performances, lush exteriors and engrossing moments of suspense and thrills directed

by Anthony Minghella and starring Matt Damon as the killer Mr. Ripley.

In his first murder, Ripley lashes out to his victim, who asks him, “Who are you?” It’s a question that ticks Ripley because while he does know who he is, he is desperate to be someone else. That scene lingered in my mind with that question ringing forever as it triggered Ripley to a life-changing path.

Last week, I found myself asking the same question to Anton Fausto, recent winner of the Myx VJ Search.

Anton had the deck stacked against him when he joined the 2019 Myx VJ Search. The contest was to find one who will join the ranks of the current stable of video jockeys of the Myx music channel, the most senior among them being Robi Domingo. Anton shares the same boy-next-door looks with the private Catholic all-boys school sensibilities of Robi. With inclusion and divergence being all the rage these days, adding a Robi look-and-sound alike seemed, well, not in the right mix.

But Anton has overcome the challenges, beating other male finalists who were more experienced, more hunk-a-licious. Heck, he even beat a Boy Abunda lookalike. He recently signed his network contract and is currently doing the workshops and promos marking his arrival as a VJ, joining Robi and the other VJs. And from the looks of it, seamlessly integrating into the country’s No.1 music channel is one Anton has done capably, bringing a wide-eyed, innocent, almost naïve-like aura in the Myx roster of talents.

Anton knows that winning the VJ Search is just the start. He knows he has to improve a lot on his hosting skills, especially his Tagalog (“Even if I was born here and grew up here, I am more comfortable in English and it’s something I’d like to change”), and he has to stack up on his music knowledge because he is only aware of what he calls “modern music”— hip-hop, early 2000s Pinoy pop-rock (Hale, Callalily and Cueshe) and “old music,” the latter in Anton’s world being the music that his folks listen to (he cites “Boogie Wonderland,” “Buttercup” and “My Sharona” are among the songs in that list).

Despite the huge tasks he has assigned himself to

improve his hosting, Anton is undaunted. He knows he has to work hard and is not even receptive to the idea of crossing into acting like other VJs have done before him since he knows he lacks the skill and would rather improve on his craft some more since that is his passion because it is in hosting that he gets to be himself.

Back to my question to Anton, “Who are you? I ask because you say that now you’re a VJ, you can be yourself...so who are you?” Anton launched into a long story about how his whole life, people tried to box him in. How people think he would be like his brothers, or follow into the footsteps of other family members in getting some office job.

“Again, my question is: who are you?” I said.

This time with much confidence, he gave a more concise version of his answer, emphasizing on the points that he is not one to be stereotyped as one type of person based on his background, and that he is one to chase his passions—he is now a Myx VJ because that is precisely what he did. “I’m fun too, and I’m not into just senseless fun. As a VJ, I would like to project fun but with meaning. I used to be a viewer idolizing Luis [Manzano] and Nikki [Gil], and how they would have clean fun with each other. I would like to do that and knowing how they affected me, I hope that one day I get to inspire young people the way I was inspired before by Myx VJs.” n

‘Game of Thrones’ reigns with record 32 Emmy nominations

BY LYNN ELBER The Associated Press LOS ANGELES—HBO’s Game of Thrones slashed its way to a record-setting 32 Emmy nominations Tuesday for its eighth and final season, leading HBO back to dominance over Netflix, the streaming service that bumped it last year from atop the increasingly crowded television heap.

The bloodthirsty saga’s total eclipsed the all-time series record of 27 nods earned by NYPD Blue in 1994.

If Game of Thrones successfully defends it best drama series title and claims a fourth trophy, it will join the quartet of most-honored dramas that includes Hill Street Blues, L.A. Law, The West Wing and Mad Men. The Emmy voters’ acclaim stands in sharp contrast to fan reaction to the show’s last hurrah, which included howls of laughter for a to-go coffee cup inadvertently included in one scene and a finale that detractors called unsatisfying. But the show’s ratings never faltered for the series based on George R.R. Martin’s novels, setting new highs for HBO. A wealth of recognition for the cast and guest stars, including the show’s only previous winner, Peter Dinklage with three awards, helped Game of Thrones add to its already record haul of nominations, now at 161 total. Series star Emilia Clarke’s decision to seek a best actress nomination after a series of supporting actress bids paid off.

She’s competing in a category that’s notable for its diversity, including past winner Viola Davis for How to Get Away with Murder and repeat nominee Sandra Oh for Killing Eve, who has another chance to become the first actress of Asian descent to win the trophy. She lost last year to Claire Foy for Netflix’s The Crown.

Two actors of color, Billy Porter for Pose and previous winner Sterling K. Brown for This Is Us, earned drama series nods.

The rest of the drama series field includes Better Call Saul, Bodyguard, Killing Eve, ‘Ozark, Pose, Succession and, as the only network entry, This is Us. Mandy Moore, who plays the NBC drama’s matriarch, earned her first best actress nod, with fellow cast member Chris Sullivan earning his first nod, for supporting actor.

Last year’s best comedy series, The Marvelous Mrs. Maisel, led the comedy pack with 20 bids, including for its star and defending champion Rachel Brosnahan.

“I’m at the dog park this morning with my fur children and started getting a lot of texts and phone calls all at once. I’m so excited to learn that the Maisel family has been invited back to the party. This category is ridiculous. I can’t believe I get to be a part of anything with these amazing women,” Brosnahan told The Associated Press.

She’ll vie with Emmy record-holder Julia LouisDreyfus of Veep, who didn’t compete in last year’s awards because her breast cancer treatment delayed

production of the political satire. Louis-Dreyfus, who with Cloris Leachman shares the record for most Emmys won by a performer, eight, has a shot at solo glory if she wins again.

The final season of Veep received nine nominations, including a best supporting actress bid for Anna Chlumsky.

“I’m feeling really jazzed. It might be the coffee I just had. But this feels so much sweeter because it’s the last time around for this show,” she said.

There was no warm and fuzzy goodbye for The Big Bang Theory, the long-running sitcom that failed to capture a best comedy nod or any for its actors. The show has company in other hit sitcoms of the past: Neither Friends nor Frasier were nominated for best series for their final year, both in 2004.

TV academy members’ out-with-the-old approach created openings for a number of buzzy comedy newcomers and their stars and creators, including Phoebe Waller-Bridge’s Fleabag and Natasha Lyonne’s

Russian Doll. Other best comedy contenders include Barry, which won acting trophies last year for Bill Hader and Henry Winkler, and sole network entry The Good Place.

A surprising entry: the quirky Schitt’s Creek, which received its first best comedy series nomination for its penultimate season and bids for stars Eugene Levy and Catherine O’Hara.

Other top nominees include the nuclear disaster miniseries Chernobyl with 19 nominations and Saturday Night Live, which drew on Robert de Niro’s talents to play Robert Mueller last season, with 18. When They See Us, the miniseries that dramatized the Central Park Five case and its aftermath, received 16 bids.

“Thank you to the real men for inviting me to tell their story,” tweeted Ava DuVernay, executive producer of When They See Us. The leading miniseries nominee is Fosse/Verdon, the biopic about dancer Gwen Verdon and choreographer Bob Fosse that earned 17 bids, including the first Emmy nominations for stars Michelle Williams and Sam Rockwell.

There was a significant drop in diversity among this year’s group of nominees compared to 2018, when more than a third of the 101 nominees in acting categories were ethnic minorities. This year, the figure was less than a quarter, with diversity especially absent in comedy.

Just two of the 26 acting nominees were people of color—Anthony Anderson for black-ish and Don Cheadle for Black Monday—and three of the four categories had only white nominees.

Categories dominated by the overwhelmingly white Game of Thrones were also short on inclusion, including supporting actress in a drama—zero nominees—and supporting drama actor, with only Giancarlo Esposito of Better Call Saul receiving a nomination. AP

EMILIA CLARKE (left) and Kit Harington in a scene from the final episode of Game of Thrones. On Tuesday, the program was nominated for an Emmy Award for outstanding drama series.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

THE 1.5 S CVT variant in Modern Steel Metallic shade

Friday, July 19, 2019

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Moto

Business

E2 Friday, July 19, 2019

HYUNDAI SALES SURGE 9.1% O

NE of the country’s leading automotive companies, Hyundai Asia Resources Inc. (Hari), sustained its strong recovery in the first half of the year as sales increased by 9.1 percent to 17,654 units compared to 16,181 vehicles sold over the same period last year.

For the month of June 2019, however, sales remained flat with 2,868 units sold, reflecting continued volatility in the automotive industry.

The most preferred South Korean vehicle brand’s resilient performance for the year can be attributed to strong sales in major segments of its business, namely light commercial vehicles (LCV) and commercial vehicles (CV).

“We are invigorated to note that our sales performance is still better than industry, which is showing a minor increase, after recovering from a tepid 2018. Despite this flat growth in June, we believe that auto sales will continue to get better in the coming months buoyed by higher infrastructure spending, lower inflation and increased consumer confidence,” Hari President and CEO Maria Fe Perez-Agudo said.

The LCV segment remains one of Hyundai’s key growth drivers in the first semester of the year, growing by 50.2 percent from 5,119 units sold in said period in 2018 to 7,690 units sold this year. This growth is driven by the brisk sales of the multi-awarded Kona and Santa Fe, and the H-100.

The Kona was named as the North American Utility Vehicle of the Year at the North American International Auto Show last January. Recently, it was recognized as the “Best Subcompact SUV for the Money” in 2019 by the US News and World Report, which judge vehicles of different classes on their quality and value for money. The Santa Fe remains a class of its own as a premium midsize sport-utility vehicle. Its monocoque body, comfort, and powerful engine set it apart from the rougher ride of ladder-frame bodies. The versatile and reliable H-100, meanwhile, remains the top choice of entrepreneurs and business owners.

Hyundai’s CV segment has been aggressively expanding with 11 CV dealerships nationwide, under-

F

Story & photos by Randy S. Peregrino

INALLY and for the first time ever, Toyota Motor Philippines (TMP) brought in its legendary sports car— the all-new Supra.

2019 Kona EV

ACCENT

scored by the 125.9-percent and 42-percent growth rate shown in its year-to-date and year-on-year sales figures, respectively. Hyundai aims to add eight additional dedicated CV dealerships in key growth areas across the Philippines by the end of 2020.

The company expects CV sales to be boosted by Hyundai Modern Jeepneys with the implementation of the government’s Public Utility Vehicle Modernization Program (PUVMP). The Hyundai Class-1 Modern Jeepney and the Hyundai “Forma Novus” Class-2 Modern Jeepney guarantee passenger safety and comfort with higher capacity and modern amenities while promising cost-effective, reliable and low maintenance operations. Hyundai Modern Jeepneys are custom-built to meet or even exceed the requirements of the Department of Trade and Industry’s (DTI) Bureau of Philippine Standards.

Hyundai Passenger Cars (PC) still

account for a little over half of total company sales. The Accent continues to be one of the company’s volume drivers with its powerful but fuel-efficient engine. The popular compact Reina, meanwhile, is the preferred choice of entry-level buyers and transport network vehicle service companies. From January to June 2019, PC sales dipped by 12.7 percent to 9,458 units.

While it continues to focus on its core business, Hari is already driving to the future as it gets ready for the next evolution in the auto industry.

“Sustainable mobility has long been our battle cry and we are keen on playing a major role in taking the Philippines to the future. We have backed our words by introducing to the market a full lineup of Hyundai hybrid/EV vehicles that fuse high performance, technology and safety in bold packages. Hyundai Philippines is prepared to be a driving force in this space,” added Agudo.

MAXUS EXPANDS CUSTOMER REACH T HE mall tour for Maxus Philippines’s multipurpose vehicle (MPV), the G10, and the ultra-spacious and powerful V80 Comfort van, rolls on as these two people and cargo movers will again be on display, this time at the DoubleDragon Plaza along Edsa in Pasay City from July 15 to 21.

For a full week starting July 15, mall goers and tenants at DoubleDragon Plaza will get to see up close a white Maxus G10 MPV and a brown V80 Comfort van.

Quite fittingly, the mall activation has been dubbed “Catch the Max,” directly referring to the “Max-Safety,” “Max-Efficiency,” and “MaxEnjoyable” rides the Maxus G10 and V80 vehicles provide its passengers and drivers.

Apart from the mall tour, Maxus Philippines goes the extra mile and offers its special low downpayment promo up to August 31, 2019.

During this period, the Maxus G10 is offered at an introductory price of P1.680 million, with a low-downpayment of P129,000, while the Maxus V80 Comfort’s downpayment is at P119,000 and a suggested retail price of P1.570 million, and the Maxus V80 Flex downpayment is at P99,000 with an SRP of P1.190 million.

The Maxus G10 is a nine-seater MPV ideal for every member of the family, as it offers spacious interior amenities, highlighted by adjustable seating for all seats, leather with fabric seat material, which includes four captain seats in the second and third rows and 60:40 split bench seat with tumble for the rearmost row, flexible and spacious luggage room, 7-inch touchscreen radio with USB, Bluetooth and 6-speaker system, a 220-volt power supply, cruise control, and front and rear air-conditioning system.

The Maxus G10 features the double-layer welding technology that meets European MPV active and passive safety standards, front and side

THE ALL-NEW SUP

airbags, 3-point seatbelts for all seats, Isofix Child Seats, reverse camera, and front and rear parking sensors. For “Max Stability” and handling, the G10 is fitted with a McPherson suspension at the front and the 5-link coil springs at the rear, and chassis timing by Lotus and GM Pan-Asia, resulting to increased stability and better handling.

The Maxus V80, on the other hand, is the go-to vehicle to take your small or medium business to the next level. The V80 Comfort’s individual seats with capacity for 13 makes it ideal for passenger conveyance. One of V80’s unique features, the Electric Step Board, makes the passengers’ ingress and egress from the vehicle easier, more comfortable and safer. Being the widest in its class, the V80 Comfort offers “Max Capacity” as it can be loaded

to up to 1.1 tons, and is sufficiently powered by a 2.5-liter CRDI diesel engine with VGT. The V80 Comfort’s dual front airbags, ABS, EBD, Isofix, and rear parking sensors offer “Max Protection.”

Apart from the V80 Comfort, the V80 also comes in two other variants, the V80 Flex and the V80 Transport. While the V80 Flex has the same body dimensions, engine, and load capacity as the V80 Comfort, the V80 Flex is the ideal van for Filipino small and medium entrepreneurs who require “Max Flexibility” for the powerful and efficient transport of their cargo. In line with Max Flexibility, loading and unloading cargo from the rear is made easier with the V80’s rear dual swingout doors. The V80 Flex offers spacious cargo space of 6.9 cubic meters and flexible interiors.

TWO-SEATER and driver-centric cabin

THE all-new Supra in radiant Prominence Red shade

THE potent 3.0-liter straight six with twin scroll turbocharger gasoline engine

THAT familiar FT-1 concept car fascia look-alike

Last seen in production in 2002, the fifth-generation Supra staged a comeback at the 2019 North American International Auto Show several months ago. Then, TMP also previewed its arrival in the country during the previous circuit race festival in Clark International Speedway. Until recently, the all-new Supra finally made its local debut at the Manila Polo Club in Makati City.

TMP President Satoru Suzuki couldn’t be clearer when he said that the Toyota Supra is a model that needs no introduction. “Today we are making history. The all-new Toyota GR Supra has finally arrived on our shores. To celebrate its return, I’m proud to announce that Toyota Motor Philippines is now bringing the legendary model here in the country,” he added. Now that it’s here, the all-new Supra, codenamed A90, is bound to pick up where its popular predecessor A80 left off.

While Toyota codeveloped this sports car with BMW using the Z4 platform, the exterior design remained faithful to the FT-1 concept car. Some of its notable design elements are the

two-seater, long nose and short cabin which intend to elevate the anticipation of driving performance to the racing image. Another is the short wheelbase and large diameter tires ratio along with a lightweight body which bears a 50:50 front/rear weight distribution to enable excellent maneuverability, steering agility and stable corner tackles. As for the powertrain, the predecessor’s straight six, front engine, rear wheel drive configuration was retained. Interestingly, the all-new Supra is built in Austria at the Magna Steyr facility along with the BMW Z4.

Exterior-wise, the unmistakable influence of the FT-1 concept car design is very much evident. Noticeable at the front end is the long bonnet with grilleless extended nose bearing the main air passage in middle bumper area. There are two more vent-like garnishes on the sides. The sharp-looking six-LED headlamps with integrated daytime running lights are just above those.

Underneath is an aerodynamic apron attached to the bottom section. The frame’s curvy profiles also extend to the flanks with familiar contours to-

SLEEK-LOOKING two-toned 19-inch alloys

ward the rear wheel arcs.

Also bearing the FT-1 concept car design is the equally striking rear end.

Those slim tail lights complement the flowing profiles and contours on the trunk, as well as on the side. At the lower panel, there’s also an aerodynamic apron with air diffusers covering the two exhaust tips. Of course,

RANGER SALES RISE TO 25% F

ORD Philippines announced second quarter retail sales of 5,667 vehicles, driven by an alltime record quarterly performance of the segment-defining Ranger pickup truck.

Second quarter retail sales for the Ranger rose 25 percent to a record 3,694 vehicles, driving its year-to-date total up 25 percent to 6,836 vehicles.

“The Ranger remains one of the country’s most preferred pickup trucks, and continues to set the benchmark for the segment with its versatility,

capability, power and class-leading driver assist technologies,” said PK Umashankar, managing director of Ford Philippines.

The “Built Ford Tough” Ranger lineup in the Philippines has grown to 11 variants, including the recent addition of the Ranger XLS Sport which features striking design enhancements for the XLS variant that further strengthen its rugged, visual appeal.

Second quarter sales for the Everest midsize sport-utility vehicle totaled 1,274 units, pushing up year-to-date

sales to 2,919 vehicles. The EcoSport mini-SUV delivered second quarter sales of 487 units, driving its year-todate sales to 1,020 vehicles.

The Ford EcoSport boasts improved driving performance with either the 1.0L EcoBoost engine or the new and more powerful 1.5L TiVCT engine with six-speed automatic transmission. It’s more street-smart than the previous version, with a bolder look and design, refined interior, and more smart and safe features, and driver-assist technologies.

oring

sMirror

Friday, July 19, 2019

PRA HAS ARRIVED

E3

Seaoil brings back Lifetime Free Gas promo Story & photo by Randy S. Peregrino

O

e and neat White Metallic

EQUALLY striking and FT-1 concept car inspired rear-end

there’s the iconic Supra nameplate in that familiar font design. Complementing the sleek and sporty design are the 19-inch two-toned alloys wrapped in wide and low series Michelin tires.

We couldn’t agree more with Suzuki when he said that the overall design resulted to a modern evolution of the timeless classic.

The two-seater and driver-centric cabin, meantime, possesses absolute sportiness in any sense. Let alone the carbon interior trims all over which complement the dark themed interior blended with piano black finishes.

Those Alcantara sports seats have 8-way power adjustments with memory and power lumbar support. The 8.8inch TFT LCD cluster with tachometer and shift indicator is perfectly visible through the three-spoke leather steering wheel with paddle shifters. As for the heads up display unit, it’s also an 8.8-inch widescreen TFT LCD with USB and Bluetooth remote touch and touchpad. It produces crisp audio quality via a JBL 12-speaker HiFi surround sound system. Moreover, the hand brake is electronic. Remaining faithful to the A80’s powertrain configuration, motivation comes from a 3.0-liter in-line six cylinder with twin-scroll turbocharger. This BMW-sourced straight six turbocharged gasoline engine is capable of generating 335 hp at 5,000 to 6,500 rpm and a massive 500 N-m of maximum

torque from 1,600 to 4,500 rpm. This power plant is mated to an eight-speed automatic transmission. According to Toyota, the all-new Supra can sprint from 0 to 100 km/h in just 4.3 seconds.

Moreover, the vehicle is equipped with an adaptive variable suspension and limited slip differential.

As for safety, the all-new Supra comes with seven SRS airbags, vehicle stability control, anti-lock brake system with electronic brake force distribution and traction control, among others. Stopping power is provided by front ventilated disc brakes with four-piston fixed caliper along with rear ventilated disc brakes with single piston floating caliper.

There are eight radiant body colors to choose from. These are White Metallic, Silver Metallic, Prominence Red, Lightning Yellow, Ice Gray Metallic, Black Metallic, Deep Blue Metallic and Matte Storm Gray. Price starts at P4.99 million (Prominence Red). All the other colors are valued at P5.05 million except for the Matte Storm Gray which is priced at P5.09 million.

NCE again, the largest independent fuel provider in the Philippines brought back the “Lifetime Free Gas, Oh My Gas!” promo. Now on its third year, this offer from Seaoil continues to be a one-of-a-kind promo, which award a lifetime supply of free gas to four lucky motorists. “Following our success from the past two years of the lifetime free gas promo, we want to continue this giveaway to thank our loyal customers for their continued patronage of Seaoil. The response has been overwhelming, and we are more than happy to return with it once again,” said Seaoil CEO Glenn Yu. Still at stake this year are over 100,000 instant prizes from peel-off cards to be given away apart from the lifetime supply of free gas. These instant prizes include P10, P50, and P100 discounts on Seaoil fuels, plus 1 liter of Seaoil Gasoline Engine Oil or Diesel Engine Oil Plus.

That’s a total of half a million peso worth of Seaoil gift cards will be raffled off in monthly draws. Thirty (30) P10,000 worth of Seaoil gift cards are still to be given away to lucky customers in the span of three monthly draws. The good news is that for this year’s edition fifteen (15) P10,000 worth of gift cards more will be given away to Seaoil VIP Club members in the monthly draws.

Qualifying for the promo is as easy as visiting any Seaoil station nationwide and simply gas up at least P500 worth of Extreme 97, Extreme 95, Extreme U, Extreme Diesel fuels and/or Seaoil Lubricants. In order to double the chances of winning, customers are encouraged to register at www.lifetimefreegas.com. The return of the

VICE President for Corporate and Consumer Marketing Jayvee de la Fuente (from left), 2017’s winner from Iloilo Jeffrey Olasa, 2017’s first winner from Pasig City Monica Poliquit, last year’s winner Michael Sulit from Caloocan City and Senior Manager for Marketing Communications Rey Jimenez

Lifetime Free Gas, Oh My Gas! is Seaoil’s continuing show of gratitude for the customer’s continued support and patronage. Since its launch in 2017, there are always been positive receptions every year. These include individual stories from past winners which continue to inspire customers to join the promo every year.

Last year’s winners include Michael Sulit of Caloocan City, a Seaoil user since he bought his first car. To date, Sulit is the youngest winner at only 24 years old. As the bunso in the family, he uses his free fuel for field work and trips with family and friends. He’s even generous enough to share these free gas winnings with his siblings, who have families of their own.

Another winner is Ernie Linarez. He is a TNVS operator and driver from Rizal. His monthly fuel savings from winning the promo really helps him pay for the car loan. As a ‘Seaoil Believer’ for years, his trust and support for the brand really paid off when he was drawn as last year’s first winner.

Next is Joel Dinque, an entrepreneur from North Cotabato. He

is now able to provide more for his family thanks to his fuel savings.

As an auto repair shop owner, he also endorses Seaoil to his customers because he is a firm believer of its products.

Last is Jidy Detuya, a jeepney driver from Agusan del Norte. He shared that it was one of his kids who convinced him to gas up at Seaoil in order to try his luck to win the Lifetime supply of free gas.

But first he was skeptical about Seaoil’s fuels. But now he also endorses it to his relatives and fellow churchgoers.

This year’s Lifetime Free Gas, Oh My Gas! promo will run from July 18 to October 18, 2019. Winners of this year’s promo will be determined via electronic monthly draws in August, September and November, and through a drop box raffle draw in November. Cut-offs for submission of online entries are at 11:59 p.m. on the 18th day of August, September and October to qualify for the 1st, 2nd and 3rd electronic raffle draws, respectively. Meanwhile, cut-off for submission of coupons at stations’ drop boxes is at 11:59 p.m. on October 18.

Chevrolet offers all-in low DP on Colorado and Trailblazer

T

HE Chevrolet Truck Month is back with more exciting deals on the Colorado pickup truck and Trailblazer midsize SUV. The Covenant Car Company Inc. (TCCCI), the exclusive importer and distributor of Chevrolet automobiles and parts in the country, offers allin low down payment deals and cash discounts on select models of the Colorado and Trailblazer.

All-in low down payments and cash savings are available on the following models: Chevrolet Colorado 4x2 LT AT— P48,000 all-in low down payment or P100,000 cash discount Colorado 4x2 LTX AT—P118,000 all-in low down payment or P50,000 cash discount Colorado 4x4 LTZ MT—P128,000 all-in low down payment or P50,000

cash discount Colorado 4x4 LTZ AT—P138,000 all-in low down payment or P50,000 cash discount Chevrolet Trailblazer Trailblazer 4x2 LT MT—P88,000 all-in low down payment or P100,000 cash discount Trailblazer 4x2 LT AT—P38,000 all-in low down payment or P150,000 cash discount Trai lblazer 4x 2 LT X AT— P128,000 all-in low down payment or P80,000 cash discount Tra i lbl a zer Phoen i x AT— P158,000 all-in low down payment or P40,000 cash discount Trailblazer 4x4 Z71 AT—P98,000 all-in low down payment or P100,000 cash discount

The Chevrolet Colorado and Trailblazer come with a special five-year warranty coverage: three-year bumper-to-bumper warranty plus a twoyear warranty on the power train or 100,000 kilometer, whichever comes first. The Chevrolet Trax, Chevrolet Sail and Chevrolet Spark come with a five-year warranty program, which offers coverage of five years or 100,000 km, whichever comes first.

Chevrolet vehicles also come with automatic enrollment to the 24/7 Chevrolet Emergency Roadside Support for three years, access to 24/7 Customer Care Hot line, guaranteed one-hour express service for select services and nonstop service for the always on-the-go Chevy owner.

Avail of the Chevrolet Truck Month Promo until September 30, 2019.

Motoring BusinessMirror

E4 Friday, July 19, 2019

Supra zooms into town; Socco officially retired ALL OF THE 16 DEALERSHIPS LISTED BELOW HAVE THE CAPACITY TO FULLY SERVICE THE SUPRA IN THE LONG-RUN:

T

OYOTA does it again. Despite the shakiest of times, it keeps on coming up with new vehicle launches. From the new model Rush, to the all-new Avanza and the almost flawless Innova, take a look at this: Toyota’s latest shocker is to recently launch the Supra, a high-end sports car whose entry level costs nearly P5 million.

Called the All-New Toyota GR Supra, the latest offering was unveiled at the swanky Manila Polo Club in Forbes Park, Makati, before a throng of car buffs that applauds only once a decade.

Advance orders had rushed in even before its official arrival in Manila. “ We a re t a rget i ng 170 units sold before t he end of t he yea r,” s a id Ti n i A re v a lo, t he f i rst v ice president of Toyot a Motor Ph i l ippi nes ( T MP).

Rey Oben said, the humble owner of Toyota Otis, Toyota Balintawak and Toyota Marilao, during the launch: “Initially, we are given only a measly quota of one Supra per dealer.”

16 dealers

ONLY 16 of Toyota’s 69 dealerships nationwide enjoy the luxury

of selling the iconic Supra, whose first units rolled out from the assembly lines in 1978.

“Br ing ing in t he legend a r y Supra here ma kes us posit ive that there are countless Toyota fa ns out t here who sha re t he sa me ent hu si a sm ,” sa id Ms. A reva lo. “ T he Supra embodies Toyot a’s pledge of ma k ing ever-bet ter ca rs.”

It is naturally well-received since Supra took a 17-year hiatus after its international debut in Detroit, Michigan. The fifth general Supra is now the first global Toyota Gazoo Racing model manufactured at the Magna Steyr plant in Graz, Austria.

(I hope to go there some day.)

Throughout the world

DURING its development, the Supra was driven on a wide range of

METRO MANILA

LUZON

VISAYAS

MINDANAO

Toyota Alabang Toyota Commonwealth Toyota Makati Toyota Manila Bay Toyota Otis Toyota Pasong Tamo Toyota Quezon Avenue

Toyota Bacoor Toyota Batangas Toyota Calamba Toyota La Union Toyota San Fernando Toyota San Pablo

Toyota Cebu Toyota Mabolo

Toyota Davao City

THE ALL-NEW TOYOTA GR SUPRA LINEAGE

A summary of the model’s rich history and its true Japanese roots.

GENERATION

ENGINE

OUTPUT

SPEED RECORD

First Generation A40 (1978-1981) Celica-based

2.8L 5M-E

116 hp 157 Nm

0-96.5 km in 10.2 sec

Second Generation A60 (1982-1985) Celica-based

2.8L 5M-E

169 hp 229 Nm

0-96.5 km in 8.4 sec

Third Generation A70 (1986-1993)

3.0L 7M-GTE

232 hp 314 Nm

0-96.5 km in 6.4 sec

Fourth Generation A80 (1993-1998) Sold until 2002 in Japan

3.0L 2JZ-GTE

320 hp 427 Nm

0-96.5 km in 4.6 sec

Current and Fifth Generation A90 (2019-present)

3.0L B58

335 hp 500 Nm

0-96.5 km in 4.1 sec

roads throughout the world, such as snow-covered paths in Northern Europe, the Autobahn in Germany, highways in the United States and winding routes in Japan.

The Philippine variant of the All-New Toyota GR Supra is powered by a twin-scroll turbocharged, in-line six-cylinder engine that produces a maximum output of 335 hp and 500 N-m of torque. A

Speed and precision

THE Supra features a limitedslip differential and ventilated disc brakes. Its high body rigidity, low center of gravity and aerody namics a ll combine to give the driver ultimate driving speed and precision.

The latest Japanese model inherits key styling features from both the Supra A80 (1993) and the Toyota 2000 GT (1967).

The vehicle intuitively assists its driver in focusing on the road through an advanced heads up display (HUD) plus responsive paddle shifters, complemented by 8.8inch TFT-LCD multi-information display gauge.

It has a dual-zone, push-type air-conditioning and an 8.8-inch TFT-LCD touchscreen display with Bluetooth and USB connectivity that synergizes with its 12-speaker, high-fidelity surround sound system powered by JBL. For ultra-safety, the All-New Toyota GR Supra has seven SRS airbags, three-point pre-tensioner and force limiter seatbelts, as well as traction control, vehicle stability control and an anti-lock brake system.

The All-New Toyota GR Supra 3.0L Philippine variant starts at P4.990 million. It comes in prominence red, lightning yellow, deep blue metallic, white metallic, silver metallic, ice gray metallic, black metallic and matte storm gray.

PEE STOP Since I already drive a flagship sports car through and through, the GR Supra is a frontengine, rear-wheel-drive coupe that comes exclusively in 3.0L displacement and eight-speed automatic transmission.

Both chassis and body frame are masterfully crafted to enjoy a 50:50 front-rear weight distribution, crucial in achieving optimum cornering performance. In

addition is a wheelbase-to-tread ratio of 1.55*1—one of the smallest among mass production sports cars—contributing to its excellent turning and responsiveness.

It is also armed with Adaptive Variable Suspension. Its front wheels are equipped with doublejoint type MacPherson strut, while the rear wheels come with multilink suspension.

black metallic 86, how about the prominence red?...“Officially, I am retired today [July 15]” vibered Vince Socco, who, as the executive vice president in the Toyota Motor Asia Pacific and based in Singapore for nearly 20 years, remains as the highest-ranked Filipino to have ever worked in a car company worldwide. Sir Vince, welcome to the CLUB—Certified Lovable Useful Bunch.

HCPI President and General Manager Noriyuki Takakura with the new BR-V 1.5 V CVT variant

SAME sedan-like and dark themed interior but with new features and fresh accents