BusinessMirror June 10, 2019

D.T.I. WANTS E-COMMERCE SITES REGULATED

By Elijah Felice E. Rosales

T

CHINATOWN MUSEUM Township developer Megaworld is opening the country’s first cultural museum dedicated to the “World’s Oldest Chinatown” inside the Lucky Chinatown Mall in Binondo, Manila. Leading the ceremonial ringing of the gong are (from left): Dannie Alvarez, president of the Association of Greater Manila Area Museum under the National Commission for Culture and the Arts; Kevin Tan, CEO of Alliance Global Inc. and Megaworld chief strategy officer; Lourdes Gutierrez-Alfonso, COO of Megaworld Corp.; and Graham Coates, head of Megaworld Lifestyle Malls. Story on page B1. ROY DOMINGO

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

@alyasjah

HE Department of Trade and Industry (DTI) wants legislators to pass a law regulating the operations of e-commerce sites and imposing stiffer penalties on consumer rights violations.

Trade Undersecretary Ruth B. Castelo said it is high time that operations of online malls, such as Shopee, are covered under a law. Shopee is under fire for allegedly changing midway the promo mechanics of its meet and greet event with popular South Korean girl group Blackpink.

“We are including some general provisions on e-commerce in the proposed revisions to the Consumer Act, but a separate law focused on the platforms would be necessary,” Castelo told the BusinessMirror.

Castelo said the law must require e-commerce platforms to be registered with the Securities and Exchange Commission either as a corporation, partnership or single proprietorship. Both national and local authorities should also partake in the authorization and monitoring of their operations.

“These entities should likewise be accredited and given a license to operate, maybe by DICT [Department of Information and Communications Technology] before they can commence operations,” Castelo said. “Regulation and administration should be with DICT. Business permits should also be issued by the LGU that has jurisdiction over the principal address for tax purposes,” she added.

The trade official also proposed the imposition of heavier penalties on

See “E-Commerce,” A2

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A broader look at today’s business n Monday, June 10, 2019 Vol. 14 No. 243

‘EO on MDM tariff up for Duterte’s signature’ A

By Jasper Emmanuel Y. Arcalas @jearcalas & Bernadette D. Nicolas @BNicolasBM

N executive order that will maintain the 5-percent tariff on mechanically deboned meat (MDM) of chicken, a raw material used in manufacturing processed meat products, is awaiting President Duterte’s signature.

Traders and meat processors, who had to pay a higher tariff rate on chicken MDM due to a Bureau of Customs (BOC) order, said the EO

will avert increases in the prices of processed meat products, such as hot dogs.

“It’s [the EO] up for signing,” a

Palace source, who requested anonymity, told the BusinessMirror.

The power to amend tariff rates rests with Congress. But

35%

The difference between the tariff rates on chicken MDM prior to the March 5 implementation of the rice trade liberalization law (5%), and the rate to which it should revert after passage of the law (40%). The BOC issued a circular to restore the 40%, but a Palace EO is expected to keep the lower rate if Congress is not in session, the President may modify the tariff rates of commodities. National Economic and Development See “MDM,” A2

BSP eyes more bilateral pacts with Asian peers

By Bianca Cuaresma

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consumer rights violations to uphold liability and accountability among ecommerce sites.

Laban Konsyumer Inc. President Victorio Mario A. Dimagiba also batted for the passage of a law similar to House Bill 2646 filed in the 17th Congress by Rep. Wes Gatchalian of the First District of Valenzuela City.

HB 2646 seeks to protect consumers in doing business with online sellers.

Under the measure, consumers are granted several rights in transacting with e-commerce platforms, including the right to information on the product, its price and its seller, as well as the right to cancel payment in cases of fraud.

“There is a pending bill authored by the Gatchalian brothers on online commerce protection. Laban Konsyumer had listed the bill [for] refile

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) is set to explore more bilateral relations with greater Asia, its chief said, citing the benefits of recent bilateral partnerships with other central banks in Southeast Asia.

Guesting at the BusinessMirror Coffee Club in Makati City on Friday, Governor Benjamin Diokno said they are particularly looking to sign more bilateral agreements with their counterpart monetary authorities in China, Japan and South Korea.

This, after the Philippines reaped the benefits from recent regional bilateral agreements among member-countries of the Association of Southeast Asian Nations (Asean).

For years now, country’s cen-

tral monetary authority has been establishing ties with its counterparts particularly in Asean as part of the regional banking integration framework. One of the most notable accords was the BSP and the Monetary Authority of Singapore’s (MAS) FinTech cooperation agreement (CA) signed in 2017, a partnership made in an effort to promote innovation in financial services in both jurisdictions.

“The BSP signed the fintech cooperation with the Monetary Board of Singapore last November 2017.

Through the agreement we have gained insights on the Monetary Authority of Singapore’s sandbox approaches, with the concepts, projects and technologies as well as other fintech,” Diokno said at the forum hosted by the BusinessMirror alongside the ALC Group of media companies.

See “BSP,” A2

PESO EXCHANGE RATES n US 51.7720

2017 EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

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

PRIVATE CONSTRUCTION PROJECTS UP 10% IN Q1

By Cai U. Ordinario @caiordinario

T

HE number of private construction projects increased 10.4 percent in the first quarter of the year, according to the Philippine Statistics Authority (PSA).

Data from the PSA said the increase in private construction projects was slower than the 20.7 percent posted in the fourth quarter last year but faster than the 2.6 percent posted in the first quarter of 2018.

There were a total of 39,762 construction projects in the January-toMarch period this year, higher than the 36,002 constructions recorded during the same quarter of 2018.

The growth, PSA said, could be attributed to the increase in the number of residential construction projects, which accounted for

69.2 percent or 27,528 projects of the total.

“Compared with the first quarter of 2018, this type of construction was 8.5 percent higher this quarter. The growth was mainly attributed to the increase of single-type houses [12.3 percent],” PSA said.

The top 5 regions, in terms of number of construction projects, collectively comprised 62.9 percent of the total. The number of construction projects in Calabarzon remained the highest at 8,989 or 22.6 percent of the total.

Central Visayas ranked second with 5,186 or 13 percent of the total; followed by Central Luzon with 3,943, or 9.9 percent; Davao region with 3,555, or 8.9 percent; and Ilocos region with 3,349, or 8.4 percent of total construction.

See “Construction,” A4

5 managers to handle ₧7-B IRF of SSS

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BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno (inset) gestures as he fields questions at the BM Coffee Club’s latest edition on Friday (June 7). Joining him in a photo-op after the forum are (from left): BusinessMirror President Benjamin V. Ramos; ALC Media Group Chairman D. Edgard A. Cabangon; BM Publisher T. Anthony C. Cabangon; and BM Editor in Chief Lourdes M. Fernandez. BERNARD TESTA/RUDY ESPERAS

HE Social Security System (SSS) has hired the services of five local fund managers to help manage its P7-billion Investment Reserve Fund (IRF) as it moves to further diversify its investment portfolio.

In a statement on Sunday, SSS President and CEO Aurora C. Ignacio said the pension fund deployed P1 billion each for three Balanced Fund Mandates, three Pure Equity Fund Mandates and one Pure Fixed Income Fund Mandate.

“The SSS management believes that it can benefit from the investment value-added services of the fund managers such as training, access to proprietary investment

n JAPAN 0.4776 n UK 65.7608 n HK 6.6034 n CHINA 7.4934 n SINGAPORE 37.9672 n AUSTRALIA 36.1161 n EU 58.3885 n SAUDI ARABIA 13.8059

See “SSS,” A2

Source: BSP (7 June 2019 )

News

BusinessMirror

A2 Monday, June 10, 2019

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Big cuts in fuel prices on heels of unbundling

O

By Lenie Lectura

@llectura

IL firms have implemented a hefty price reduction in gasoline, diesel and kerosene to reflect movements in the world oil market.

Phoenix Petroleum led the price cut at 6 p.m. of June 8.

It slashed gasoline price by P2.60 per liter and diesel by P2.70 per liter.

The move, Phoenix said, was meant to provide the public a lon-

SSS. . .

Continued from A1

analysis and information and access to business analytics,” Ignacio said. According to the state-run pension fund, it opened for bidding the hiring of nine local fund managers to manage its P9-billion fund, which was divided equally under three types of mandates: Balanced Fund Mandate, Pure Equity Fund Mandate and Pure Fixed Income Mandate.

Local fund managers who participated underwent an open and competitive bidding and transparent evaluation process, the SSS added.

In the end, only P7 billion was deployed to qualified fund managers from the total P9 billion opened for bidding. “The remaining P2 billion allotted for two local fund managers will be open for rebidding this year,” she added.

The SSS deployed P1 billion each to Rizal Commercial Banking Corp.

(RCBC), BPI Asset Management and Trust Corp. (BPI AMTC) and Atram Trust Corp. (Atram Trust), under the Balanced Fund Mandate.

Another P1 billion each was deployed for the Pure Equity Fund Mandate fund managers: BPI AMTC, the Metropolitan Bank and Trust Co. (Metrobank), and Philequity Management Inc. (PEMI).

Finally, P1 billion was deployed to BPI AMTC, which was also entrusted the lone Pure Fixed Income Fund Mandate.

The IRF of the SSS as of end-2018 stood at P495.6 billion—with 43 percent invested in government securities, 19 percent in equities, another 19 percent in loans to members, 3 percent in bank deposits, 8 percent in corporate notes and bonds, 7 percent in real estate and 1 percent for the mutual fund. Rea Cu

BSP. . .

Continued from A1

With this, Diokno said he plans to touch base with other Asian central banks to create similar bilateral agreements.

“We plan to replicate the cooperation agreement with other regulators particularly China, South Korea and Japan. And increasing the number of fintech players from this country could offer innovative solutions in crypto currency and digital banking,” Diokno said.

“We have to learn lessons from them. To me, it’s good to talk with them and find out how they do it and their monetary policy. Given the technological innovations, the conduct of monetary policy will change. So we have to learn,” he added.

Diokno said that in terms of their policies on technological progress, they have embraced innovations with caution instead of fighting it.

“You can see systems that are heavily dependent on technology like China, for example—there’s no more cash in China, it’s just QR code,” Diokno said.

“So let us not fight it, at the same time let BSP do its job which is to be cautious. We have to make sure that any technology that will be introduced in society is safe for the Filipino people,” he added.

Diokno also said he is planning to strengthen the BSP’s technological expertise during his term.

“Because that’s also important: when you give approvals to certain technologies and something happens to that technology, BSP will be responsible,” Diokno said.

ger period to avail itself of cheaper fuels.

Seaoil Philippines, meanwhile, implemented on Monday a P2.45 per liter reduction in gasoline, P2.70 per liter for diesel and P2.60 per liter for kerosene.

₧2.60

The per-liter cut in gasoline prices implemented on June 8 by Phoenix Petroleum. It’s P2.70 per liter for diesel

Seaoil’s price cut took effect 12:01 a.m. of Monday.

PetroGazz and Pilipinas Shell will implement the same amount of price reductions on Tuesday morning.

Other oil firms are expected to follow suit.

Unbundling ordered

LAST week, oil firms were directed by the Department of Energy to unbundle their fuel costs.

Department Circular 2019-05-8 states that for every price adjustment of petroleum products, oil companies must comply with the submission of the detailed computation, with a corresponding explanation and supporting documents on the reasons of the movement.

In particular, oil firms must unbundle their fuel cost by providing

250K deaths from poor hygiene–FAO report

By Cai U. Ordinario @caiordinario

P

OOR hygiene and food mishandling has led to the increase of foodborne diseases that cause the death of nearly a quarter of a million every year in the Asia and the Pacific region, according to the Food and Agriculture Organization (FAO).

In a statement, FAO said in the Asia-Pacific region, which includes the Philippines, more than 275 million people get sick due to foodborne diseases each year.

FAO expressed concern about the negative implication of such data on achieving the Sustainable Development Goal (SDG) of Zero Hunger by 2030.

“Worldwide, each year, unsafe food or water kill more people than HIV, AIDS, malaria and measles combined, and it’s now time that everyone takes this issue more seriously,” said Kundhavi Kadiresan, FAO assistant director general and regional representative for Asia and the Pacific. “In so many cases the deaths and illnesses associated with consuming unsafe food were needless and could have been prevented.”

Apart from food contamination caused by poor hygiene and mishandling, other causes of food-borne diseases in the region include exposure to the elements as in the case

MDM. . .

Continued from A1

Authority (Neda) Assistant Secretary Mercedita A. Sombilla also confirmed to the BusinessMirror that the draft EO is now with the Office of the President for review and consideration.

T he B usi n e s sM i r ror re ported last week that the Bureau of Customs (BOC) has issued a memorandum circular authorizing the reversion of higher tariffs on certain agricultural products to 2012 levels, including chicken MDM. Customs Commissioner Rey Leonardo B. Guerrero issued Customs Memorandum Circular (CMC) 131-2019 dated May 23, authorizing the reversion of higher tariffs on certain agricultural products.

According to EO 23 issued by the President in 2017, concessionary rates on certain agricultural products should go back to the 2012 levels once the quantitative restriction (QR) on rice is removed and converted into ordinary customs duties.

The rice trade liberalization law, which removed the QR on rice, took effect on March 5.

Objection

THE Philippine Association of Meat Processors Inc. (Pampi) questioned the BOC memorandum circular and said the reversion of the tariff rate is not automatic.

Pampi also claimed that BOC collectors had already imposed a 40-percent tariff on imported chicken MDM even prior to the issuance of the circular.

of street food, and fresh produce that are left out for hours in openair markets and hot climates.

FAO also said undercooking of food and lack of proper refrigeration contribute to food that becomes unfit to eat. This causes losses of about $95 billion in low- and middleincome countries alone, according to data from the World Bank.

The UN agency said this called for more investment in consumer food safety education which can reduce food-borne disease and return savings of up to 10-fold for each dollar invested.

FAO said calls to improve food safety in the Asia-Pacific region are increasing, primarily by governments who view this as both a public health issue and a hindrance to international trade in agricultural products.

“Food safety needs to be incorporated at every stage across the food chain and there is tremendous scope to incorporate good practices and standards in all sectors of food and agriculture. Our member-countries are increasingly asking us to give more guidance on improving national food control systems and food safety tools to be applied to both their domestic and international markets,” Kadiresan said. “FAO and the World Health Organization [WHO] jointly maintain the Codex Alimentarius system of food stan-

Documents provided by Pampi to the BusinessMirror showed that “several hundreds” of containers were affected by the sudden change of tariff rate on MDM, which started on May 17.

The group said the increase in the rate would cost importers an additional P350,000 per container.

Pampi said imported MDM was assessed with a 5-percent tariff before May 17, or two months after the rice trade liberalization law took effect.

The importers, mostly members of Pampi, deferred the release of their MDM shipments until questions over the legality of the implementation of a 40-percent tariff on their purchases have been resolved.

Warning

THE Meat Importers and Traders Association (Mita) told the BusinessMirror that the BOC has been retroactively applying the higher tariff rate on imported chicken MDM. Mita said it received reports that the BOC is demanding that some brokers pay the tariff difference of between 5 percent and 40 percent on MDM even after the shipments were released.

The group warned that small meat traders and meat processors could go out of business if the BOC continues to do this.

Mita President Jesus C. Cham said earlier shipments of chicken MDM were assessed by the BOC with a 5-percent tariff.

“To apply the 40 percent duty retroactively and collect the difference will drive many of the smaller importers out of business,” Cham said. “This will mean not only the

dards including key guidelines and codes of practices which is a valuable resource freely available to all countries.”

To improve health, well-being and food security, FAO’s Regional Office for Asia and the Pacific recently sponsored an event to mark the first World Food Safety Day, with the theme that food safety is everyone’s responsibility and everyone’s business.

Government authorities must ensure a transparent regulatory framework and its fair enforcement, while the private sector needs to implement food safety measures and management systems that ensure safe food for all.

It is also the duty of consumers to be vigilant and increase their awareness about good practices at home and at the workplace including schools.

The objective of World Food Safety Day is to raise awareness that consequences of unsafe food consumption on human health are extremely serious with basic microbiological contaminations which are usually neglected.

Undercooked food, cross-contamination and nonhygienic handling are the main killers. In other words, these illnesses occur needlessly and everyone can play a significant role to prevent them from happening.

loss of jobs for the employees of these enterprises but also deprive the small meat processors who rely on these importers of their raw material.”

A BOC letter dated May 27 obtained by the BusinessMirror showed that the agency directed a broker to pay the bureau an additional P4.044 million to compensate the 35-percent tariff difference on chicken MDM. The imported MDM shipments consigned to the broker, which were already released from the Manila International Container Port (MICP), were found “short in payment” due to the Tariff Commission’s clarification on the duties applied on the goods, the letter read.

Industry sources told the BusinessMirror that they have seen the same letter, which has caused alarm among importers, traders and processors.

Cham said a Mita member said he would have to pay P40 million to P50 million if the BOC retroactively applies the 40-percent tariff rate on recent chicken MDM shipments.

He said Mita will write to Socioeconomic Planning Secretary Ernesto M. Pernia to formalize its position against the BOC’s retroactive collection of duties.

Pernia cochairs the Cabinetlevel Committee on Tariff and Related Matters. The letter will also be submitted to the concerned Cabinet Secretaries and to the Customs Commissioner.

Mita will ask the government to desist from issuing new demand letters and refrain from enforcing the demand letters it has issued pending the resolution of the matter.

the following details: ■ International content, which makes up import cost, freight cost, insurance and foreign exchange rate.

■ Taxes and duties, which include excise tax, value-added tax, duties and other imports.

■ Biofuel cost ■ Oil company take components.

Details on port charges, refining cost, storage cost, handling cost, marketing costs, transshipment cost, other cost, oil company profit margin and total oil company price are required to be turned over to the agency.

“Within two months after effectivity of this circular or whenever required by the DOE or by the DOE-Department of Justice [DOJ] Task Force, oil companies shall be required to submit a report to the OIMB [Oil Industry Management Bureau], on a per liter and per product basis for liquid fuel and automotive LPG and on a per kilogram basis for household LPG, containing the detailed computation with corresponding explanation and supporting documents on the unbundled items comprising the oil company price as of December 1, 2018,” the DOE said.

Thousands of hog farms closed in 32 years–PSA

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HOUSANDS of farmers left hog raising and sought better economic opportunities in cities and abroad, according to data from the Philippine Statistics Authority (PSA), which revealed that over 500,000 pig farms shut down from 1980 to 2012.

In its 2012 Census Report on Livestock and Poultry, the PSA said 533,000 hog farms closed during the 32-year period. The number of hog farms in 2012 were estimated at 1.55 million, or 25.6 percent lower than the 2.082 million farms recorded in 1980.

Pork Producers Federation of the Philippines Inc. President Edwin G. Chen agreed with the PSA report. Chen said farmers were lured out of hog raising by better economic opportunities in the city and abroad.

“That is why we are trying to help small-holder pig farms [by organizing] them into association and cooperatives. It doesn’t mean [that] if you are small you are doomed,” he told the BusinessMirror in an interview on Sunday.

“They can organize themselves into a big group [and achieve economies of scale]. [They will have a] central purchasing system and a central marketing system,” he added.

More output

HOWEVER, the PSA noted that the expansion of the swine population in 2012 by 36.9 percent to 7.709 million heads from 5.632 million

heads, in 1980 eclipsed the doubledigit decline in the number of hograising farms.

The increase in swine population resulted in a higher hog-toraiser ratio in 2012 at 5:1, PSA data showed.

“A hog/pig holding/farm in 2012 had five hogs/pigs, on the average, compared with only three heads per holding/farm in 1980,” PSA said, noting that only hog farming posted an increase in ratio among all livestock subsectors.

Chen attributed the increase in swine population to improvements in pig genetics, nutrition and farm management.

He added that more farms also consolidated their production to achieve economies of scale.

“Modern pig production has increased tonnage produced. For example, market weight before was just 75 kilograms. Now it is 100 kilograms,” he said.

The PSA noted that the increase in demand for pork-based products drove the higher output in hogs by raisers over the past decades.

It noted that pork dishes, such as lechon and adobo, are popular in the Philippines.

“Roasted pig, popularly known as lechon, is the star dish in ‘fiestas’ or festivals and important events celebrated by Filipino families in most parts of the country all year round,” it said.

“Adobo,” a recognized Pinoy best seller in local and international food markets, is also mainly a pork meat dish,” it added.

DTI wants e-commerce sites regulated Continued from A1

for the next Congress,” Dimagiba said in a text message.

to P300,000 for each complaint received by the DTI.

Shopee’s case

Road map on course

The DTI is investigating Shopee for possible violations of the Consumer Act, as hundreds of patrons reportedly spent over P200,000 to qualify for a spot in the online mall’s meet and greet with Blackpink on Thursday.

Shopee l au nc hed a promo wherein top buyers within a certain period will either get a pass for the meet and greet or go onstage for a close encounter with members of the girl group. However, it claimed its computer system made an error and mixed up the list of top spenders, and this resulted in the eventual revocation of the promised tickets.

The DTI is assessing whether Shopee, as alleged by some buyers, changed midway the promo mechanics, including the deadline for all purchases to May 25 from June 1 originally.

Shopee is facing a possible fine of up to P300,000 if proven it changed promo mechanics on the last minute. It could also be penalized up

IN spite of the fiasco, Trade Secretary Ramon M. Lopez said this will not in any way impact on the growth of e-commerce in the Philippines.

Under the Philippine E-Commerce Roadmap 2016-2020, the government is targeting to increase the contribution to GDP of e-commerce to 25 percent by 2020, from 10 percent in 2015.

This should translate to at least 100,000 micro, small and medium enterprises capable of transacting online and 40 percent of Internet users doing e-commerce.

“I don’t think it would affect the trend toward increasing e-commerce, especially if the platform is willing to immediately compensate the aggrieved parties to keep the trust and credibility of their brand,” Lopez said in a text message. Shopee is trying to strike settlement deals with its patrons who were left out of the list. It is reportedly offering to fly one to Thailand for a Blackpink concert.

The Nation BusinessMirror

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Cops linked to Chong killings ordered to reply to charges

By Joel R. San Juan @jrsanjuan1573

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HE 23 police officers implicated in the killing of the aide of former Biliran Representative Glenn A. Chong and his female companion have been given until June 17 to answer the two counts of murder and other criminal offenses filed against them.

The respondent police officers failed to appear before a panel of prosecutors during the first preliminary investigation on the case held last week.

Only their representatives from the Philippine National Police legal department appeared on their behalf during the proceedings.

The police officers’ representatives asked during the proceedings for an extension of the deadline to file their counter-affidavits. The request was granted by the panel headed by Senior Assistant State Prosecutor Alexander Suarez.

In its complaint, the National Bureau of Investigation (NBI) asked the Department of Justice to prosecute the respondents for two counts of murder and one count of planting of evidence. The respondents are composed of seven officers from Cainta police station led by Lt. Sandro Ortega, four officers from provincial office of the Philippine National Police Highway Patrol Group led by Capt. John Russel Barnacha and 10 operatives of Regional Special Operations Unit

led by M/Sgt. Rene Eufracio.

The NBI also filed a complaint for obstruction of justice against Calabarzon Police Regional Director Brig. Gen. Edward Carranza; Cainta, Rizal Provincial Director Col. Lou Evangelista; and Cainta police chief Lt. Col. Pablito Naganag.

Following the conduct of an investigation and forensic examination, the NBI concluded that Richard Santillan and Gessamyn Casing did not die in a shootout but they were actually victims of a rubout.

“The concerted acts of the above police officers, before, during and after the death of [Richard Santillan and Gessamyn Casing], indubitably show causal relation, thus pointing to a joint purpose, a unity of action and a community of interest—to kill Santillan and Casing,” the complaint read.

Carranza and his men had denied the NBI findings and insisted that the incident last December was part of their legitimate police operations against the so-called “Highway Boys” involved in drug trade, carnapping, robbery and killings in Floodway in Cainta.

They claimed that the police operatives spotted the unregistered Toyota Fortuner that was supposedly being used by the syndicate in its operations, which at that time was being driven by Santillan.

They alleged they tried to flag down the vehicle, but Santillan sped off, resulting in a chase. When Santillan fired at the operatives, they said they were forced to retaliate.

Editor: Vittorio V. Vitug • Monday, June 10, 2019 A3

A year later, investigators still reviewing anomalous projects at tourism agencies

By Ma. Stella F. Arnaldo Special to the BusinessMirror

A

YEAR after Wanda Corazon Tulfo-Teo and actor Cesar Montano were asked to resign for alleged anomalies committed while at their respective government posts, efforts to charge anyone directly responsible for questionable projects and recover millions in pesos in taxpayers’ money appear to have been stymied.

Tulfo-Teo was told to step down as secretary of the Department of Tourism (DOT) and Montano as chief operating officer of the Tourism Promotions Board (TPB).

Edwin R. Enrile, undersecretary for legal and special concerns and chief of staff, told the BusinessMirror the DOT “can’t ask them to return the money because that would mean we’ve already decided on their guilt.”

Enrile emphasized it isn’t the DOT’s job to determine the innocence or guilt of former government officials as well as other participants in the alleged anomalies but the Sandiganbayan’s, the special appellate court that handles graft and corruption cases.

A notice of disallowance was issued by the Commission on Audit (COA) for the P120-million adver-

tising contract between the DOT and PTV4, of which P60 million in ad spots were placed in Kilos Pronto, a block timer program produced by Bitag Media Unlimited Inc. owned

by Teo’s brother, Ben Tulfo.

“Respondents have appealed, so it is still pending,” Enrile said. “For administrative and criminal cases, this is currently being handed by the filed investigation Office of the Ombudsman, which has yet to release its findings. It’s still under investigation.”

Based on the information his office gathered, the DOT legal chief said documents pertaining to the contract are being reviewed and witnesses are being interviewed.

The COA just recently issued a notice of suspension on the P320million “Buhay Carinderia Redefined” project contracted by the TPB and event organizer Marylindbert International Inc. Montano alleged the latter’s owner, Erlinda Legaspi, is a good friend of Teo. “The respondent was given a chance to explain,” said Enrile. “TPB has sent three demand letters to Marylindbert seeking the refund of VAT [value-added tax] and unspent expenses as of the time of suspension. Marylindbert has not replied.”

The DOT official added, “the OGCC [Office of Government Corporate Counsel], upon request of TPB,

has issued an office order creating a task force to handle the case.”

The project was suspended upon the takeover of Bernadette Romulo Puyat as DOT secretary on May 14, 2018. However, one month later, Marylindbert still attempted to carry out Buhay Carinderia activities. An investigation by this paper showed the TPB paid Marylindbert P80.64 million in full, for the first phase of the P320-million project, barely before the project had even begun. (See, “Culinary tourism takes a hit as probe unearths how Buhay Carinderia ‘redefined’ TPB approval route,” in the BusinessMirror, May 22, 2018.)

Despite repeated attempts to get clarifications and details on alleged anomalous projects at the DOT and TPB from May 6 to June 6, 2019, the COA’s Public Information Office headed by Jonathan Beltran has been unable to issue any details on the cases.

“COA-TPB has issued a Notice of Suspension for TPB projects,” an unnamed officer who signed a May 20 e-mail as “PIO,” said. However, PIO failed to say what these projects were.

The unnamed PIO again emailed back on June 6, saying: “I cannot give information on what projects has received notice of suspension since it’s ongoing. The agency is given a number of days to

Macalintal: Disposal of VCM seems ‘premature’ D

Briones: Public school teachers’ pay improved in past 20 years

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DUCATION Secretary Leonor Magtolis Briones on Sunday claims that publicschool teachers have gained continued improvements in their compensation for almost two decades.

Briones also vowed that the Department of Education (DepEd) will continuously expand the scope of employee welfare and safeguard the personal and professional development of both its teaching and nonteaching personnel— a priority under her 10-point agenda.

“As [DepEd] secretary and, as an advocate, I am committed to the policy to promote and improve the social and economic status of public-school teachers, their living and working conditions, and their terms of employment,” Briones said.

Briones also denied she opposes proposals to hike teachers’ pay, adding she is in full support of President Duterte’s pronouncement to raise the salaries of teachers.

The DepEd reported that from P9,466 under Salary Grade (SG) 10 in 2000, the basic monthly salary of a Teacher I under SG 11 following the final tranche of the Salary Standardization Law (SSL) in 2019 is P20,754, constituting a 119.25-percent increase.

Pursuant to Executive Order (EO) 219, Series of 2000, a Teacher I was classified under SG 10, while a Master Teacher II—the highest teaching position then—was classified under SG 17 with a basic monthly salary of P14,232, which increased to P45,269 in 2019 under SG 19.

The monthly salary of Teacher I was then raised to P9,939 in 2001 following EO 22, and to P10,933 after six years under EO 611, Series of 2007. It was increased to P12,026 a year after pursuant to EO 719.

It was in 2009 when the SG assignment of a Teacher I was raised to 11 with a basic monthly salary of P14,198, which was increased to P18,549 in 2012 under EO 811.

Finally, EO 201 raised their basic monthly salary to P20,754 this year.

Meanwhile, the Master Teacher III and Master Teacher IV positions were created in 2010 and 2012, respectively. From P29,052 under SG 20 in 2010, the basic monthly salary of a Master Teacher III increased to P51,155 in 2019. A Master Teacher IV under SG 21 now receives P57,805 from P34,493 in 2012.

The significant improvement over the years serves as a testament to the Philippine government’s commitment to retaining competent and committed civil servants through ensuring that their compensation is “just and equitable.” Claudeth Mocon-Ciriaco

reply/answer the notice.”

COA, likewise, issued a number of audit observation memoranda to the DOT in 2018. One of the memoranda was the $2-million hosting of the “World’s Strongest Man” competition, the contract of which was signed by Teo and awarded to Minimax Advertising and Production Corp., the Philippine representative of IMG Productions Llc., which owns the rights to the competition. DOT sources had alleged that the original project cost was only $1 million, and that government contracts should not be in dollars but in the local currency. Also, the funds available for the project was considerably less than the total project cost.

Last week, Justice Secretary Menardo I. Guevarra said his agency was ready to assist the Office of Ombudsman in investigating the advertising contract in an effort to recover the P60 million paid to Tulfo’s company.

The contract was raised anew after Tulfo’s brother, Erwin, was vilified by alumni of the Philippine Military Academy for lambasting Social Welfare Secretary Rolando Joselito D. Bautista, a retired army general, on his radio show. This has led to a pullout of the military and police escorts of the Tulfo siblings, including that of eldest brother and special envoy to China, Ramon.

COOL OFF

Local and foreign tourists take a dip at Magpupungko Beach in Siargao to beat the heat at the tail end of the summer season. Additional incentives to tourism through Republic Act 11262 must be taken advantage of, according to stakeholders.

Tourism Congress of the Philippines President Jose C. Clemente III has said stakeholders “should now go out and look for those investors that would be interested to enter the Philippine tourism industry so we can take full advantage of those incentives.” NONIE REYES

Solon warns of more foreign Lawmaker eyes govt-run garbage shipments to PHL cancer specialty hospital

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RANKING lawmaker at the House of Representatives called on the Bureau of Customs (BOC) on Friday to enforce the compulsory preshipment inspection (PSI) of containerized imports to prevent contraband from entering the country, including illegal trash and narcotics.

Buhay-Party-list Rep. Lito Atienza made the call warning of “a likely increase in containerized foreign garbage shipments headed to the Philippines in the months ahead.”

“We’ve been targeted as a dumping ground owing to our inadequate controls at various ports of entry,” Atienza said in a statement that he issued after the Duterte administration shipped back to the country of origin several tons of garbage that were unlawfully dumped in the Philippines.

“We are counting on PSI to effectively prevent not only illegal waste and drug shipments but also the widespread smuggling of high-value farm products, cars, electronics, apparel and what have you, stashed in containers,” Atienza said.

PSI is the practice used by governments, mostly in developing countries, of requiring importers to engage ac-

credited third-party surveyors to verify shipment details, such as the price, quantity and quality of goods, before cargoes depart the exporting country.

“The practice compensates for inadequacies in the importing country’s customs and other administrative controls, and discourages the undervaluation of taxable shipments from abroad,” Atienza said in a statement.

Just recently, Canada pulled out 69 shipping containers of garbage, mostly plastics and household kitchen waste.

This, after President Duterte threatened to ship back and dump the trash in Canadian territorial waters, and after Manila began downgrading diplomatic ties with Ottawa.

The Philippines also recently shipped back 2.6 tons of shredded electronic and plastic waste from Hong Kong that arrived at the Mindanao Container Terminal in Tagoloan, Misamis Oriental.

Atienza said the BOC should enforce compulsory PSI to prevent the further entry of foreign garbage shipments in the Philippines, as he warned of a likely increase in containerized foreign garbage shipments headed to the Philippines in the months ahead. PNA

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S cancer rates are expected to increase with aging of populations and changes in lifestyles, an incoming lawmaker vowed to push for the creation of a government-run cancer specialty hospital.

Leyte Rep.-elect Ferdinand Martin G. Romualdez said he will seek an initial P1-billion funding under the national budget to start building the cancer specialty hospital.

The Philippine Cancer Facts and Estimates by the Department of Health recorded eight deaths per day due to childhood cancer and 11 new cases and seven deaths every hour for adult.

Romualdez said in a statement his proposal would provide care for more difficult and problematic cases of cancer.

While the newly signed National Integrated Cancer Control Act or Republic Act 11225 allows the creation of cancer specialty hospitals and clinics by the private sector, he underscored the need to build a government-run hospital for cancer patients to ensure comprehensive high-quality cancercare services at more affordable prices.

Romualdez sought the creation of the Philippine National Cancer Center patterned after the Philippine Heart Center, the National Kidney Transplant Institute, the Lung Center of the Philippines and the Philippine Children’s Medical Center.

According to Romualdez, his proposal would complement the Cancer Control Act that President Duterte signed in February aimed at institutionalizing a national integrated program to fight cancer cases and improve cancer survivorship in the country.

“We have to complement the newly signed law on battling cancer by building the cancer specialty government hospital to take care of cancer patients. Remember that cancer is the third-leading cause of death in the country,” Romualdez said. Jovee Marie N. Dela Cruz

EFEATED opposition senatorial bet Romulo B. Macalintal said it is “premature” for Duterte to condemn Smartmatic TIM Corp. by asking the Commission on Elections (Comelec) to dispose of its vote-counting machines (VCM).

While Macalintal acknowledged there were technical glitches that occurred in the last midterm elections, he suggests the President wait first for the results of election protests filed by losing candidates.

“With due respect to Duterte, I would suggest that [the president] wait for the outcome of certain election protest cases filed by some losing candidates in the last election where the ballots will be physically counted and the results of the physical recount compared with the VCM’s voting results,” he said in a statement on Sunday.

Moreover, Macalintal said the results of a “Random Manual Audit” showed that the VCM’s count was indeed accurate.

“But with the recent result of the Random Manual [Audit], which shows that the VCM’s count was 99.9-percent accurate and taking into consideration the past results of election protest since the first automated polls in our country in 2010 where the physical count of the ballots tallied with VCM’s count,” he added. “It appears that the results of the 2019 elections were accurate, and no electoral fraud was committed that compromised the integrity of these VCM.” The election lawyer then urged Duterte to focus on pressuring Comelec to hold Smartmatic and other suppliers accountable for the machines that malfunctioned, as well as the glitches in the transparency servers.

Comelec should also be asked why it has to spend P1.16 billion for the Voter Registration Verification System (VRVS) even though these are used for pilottesting, he added.

“What Duterte should do is to remind or pressure Comelec to ask Smartmatic and other suppliers to compensate our government for damages for the hundreds of VCM and VRVS machines that malfunctioned; defective writing or shading pens; glitches in the transparency servers; and for all other technical problems that caused delays in the conduct of the 2019 elections,” he said.

“Comelec could have just ‘pilot-tested’ these machines in a small municipality like Pateros where it would not have been very costly instead of pilot-testing it in so many provinces without any assurance of the VRVS machines’ usefulness and accuracy for such a staggering amount of P1.16 billion,” he added.

In a speech before the Filipino Community in Japan last month, Duterte urged Comelec to stop using Smartmatic in the next elections and asked them to look for a new one that is “free of fraud.” Bernadette D. Nicolas

News

BusinessMirror

A4 Monday, June 10, 2019

Duterte OK of defense deals with US ‘to hasten AFP upgrade’

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By Rene Acosta

@reneacostaBM

HE Department of National Defense (DND) said President Duterte’s decision to reconsider his earlier order for the Armed Forces of the Philippines (AFP) to avoid procuring military equipment from the United States will hasten the system and the delivery of much needed US-made equipment.

DND Spokesman Arsenio Andolong said the Chief Executive’s decision will also provide the military with options and widen its choices for its source of assets and equipment in line with its ongoing capability upgrade program.

“We welcome the President’s pronouncements, and we would like to thank him for making modernization of the AFP one of his priorities. Having said that, all of our procurement will have to undergo the process as stated in the law, RA 10349 and RA 9164,” Andolong said on Sunday.

Defense Secretary Delfin N. Lorenzana signed in April a contract for the procurement of 16 S-70i Black Hawk helicopters from Sikorsky, a subsidiary of the American defense manufacturer behemoth Lockheed Martin, in the biggest contract yet with an American firm.

The helicopters, with acquisition cost of P16 billion, will be manufactured out of Sikorsky’s plant in Poland.

Just last week, a subsidiary of Boeing also announced that it will be delivering at least eight ScanEagle unmanned aerial vehicles (UAVs) to the country under the Foreign Military Sales program that had been relaxed under US

President Donald J. Trump.

The drones were expected to beef up the surveillance and maritime patrols of the Philippine Air Force.

Andolong said Duterte’s pronouncement will give the DND the momentum to complete the transaction on the Black hawk helicopter, an aerial asset that the Air Force had been wanting and was actively pursuing since it began its modernization process.

Japan SDF

MEANWHILE, students from the Joint Staff College of the Japan Self-Defense Force headed by Captain Katsuya Yamamoto visited the Armed Forces Northern Luzon Command (Nolcom) before the weekend as part of their course’s enhancement program.

The Japanese military students, part of the existing exchange program between the Japanese and Philippine military, were welcomed

by Nolcom commander Lt. Gen. Emmanuel Salamat.

Nolcom Spokesman Major Ericson Bulosan said the visit was meant to allow the students “a better understanding of Northern Luzon Command’s mission, various policies, and initiatives in addressing current and emerging threats to national security.”

Bulosan quoted Yamamoto as saying during their visit that Japan was increasing its cooperation exercises and training with other armed forces as seen from their previous involvement in combined military exercises like the Rim of the Pacific Exercise (Rimpac) and Balikatan Exercises.

Rimpac, which was held in Hawaii, was also joined by the Philippine Navy while Balikatan was being hosted annually by the Armed Forces of the Philippines.

On Saturday, President Duterte indicated that the Philippines is now open to buy firearms from the United States anew after it stopped its purchase of arms in 2016.

“Well, America has been helpful.

In the purchase of arms, we have a bad experience but they have a new policy now. We’re going to reconsider,” Duterte said in an interview with Pastor Apollo Quiboloy in Davao City on Saturday (June 8), according to a PNA report.

In 2016 the US State Department halted the sale of firearms to the Philippines over concerns on human-rights violations in relation to the Duterte administration’s war on drugs.

Duterte emphasized that when the Philippines stopped purchasing arms from the US, it started looking for cheaper and better arms.

“We’ll buy if we think we need that kind of particular…. But I’d like to say to the Americans and to the officials—in Washington, when you deprived us of the arms, we started going a round scout ing for c heaper and better arms. And there were contracts already, memorandum of intent—to buy something like that. So we will not impair

[those] obligations,” he said.

He said he could not abandon deals signed by the Philippines with Russia and China, the two countries that provided assistance to the Philippines especially when the Marawi siege took place in May 2017.

“When we needed [the arms], in our hour of need...Russia and China gave it to us practically free,” Duterte said.

“You know I’m a Filipino. You have to have a sense of gratitude. At least honor the contract.

Nothing else,” he added.

The President also expressed readiness to cooperate with the US on its new policies to permanently stop immigration services in Manila but has no intention of ever going to war against China.

He also said that he had much respect for Trump.

“Do not ever think that the suspension of the processing for citizenship and special visas and all of these, there’s a deeper meaning to that,” Duterte said.

“But we are ready to cooperate.

This I have to say, I will not go to war with anybody against China because that will be the end of the world,” he added.

Duterte, who described China as “good” and America “helpful,” also doubted that the two countries would go to war amid the ongoing trade dispute.

“America and China, alam nila [they know that] a war is the most useless thing in their arsenal. Tapos talaga ang mundo nito [It will really be the end of the world],” Duterte said.

“When they say that, if you blow it all, it is 100 times bigger than Hiroshima and Nagasaki. You think we will survive? See you in heaven,” he added. With a PNA report

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Construction. . .

At the provincial level, the top 5 provinces accounted for 27.1 percent of the total projects. Cavite with 3,833 construction projects continued to account for the biggest share of 10.6 percent.

Negros Oriental and Davao del Sur ranked second and third, with respective shares of 1,815 or 5 per-

senator stressed. “We must send people to jail for this,” he added.

“When Congress returns in July, we will file a resolution asking the Committee on Health and the Blue Ribbon Committee to look into this in much detail,” said Drilon “Malaking kasalanan ’yan at dapat may managot. Matagal na natin naririnig ito at mukhang hindi natigil [Fooling around with public funds for health is a big crime and someone should be punished for it. We’ve long heard of such scams, and it seems they haven’t stopped,” he told dwIZ. He was referring to last week’s news reports that certain private dialysis centers, exploiting loopholes in reporting in the PhilHealth system, were able to draw down government funds to cover dialysis sessions for patients even after they have died.

Drilon said their plan to file the resolution when Congress opens regular session on July 22 is meant to enable the investigating committees to promptly open a full-blown inquiry into the health-fund mess.

“The example that should be set here is the certainty of punishment; that is how we can discipline the bureaucracy: that if one is caught,

Continued from A1

cent and 1,725 or 4.8 percent of the total. “Completing the top 5 provinces with the most number of constructions were Batangas with 1,706 [4.7 percent] and Laguna with 1,693 [4.7 percent],” the PSA added.

Value of projects

MEANWHILE, the total value of

Toll board approves 2011 bid to hike rates at SCTEx

By Lorenz S. Marasigan

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@lorenzmarasigan

TARTING on Friday, the operator of the Subic-Clark-Tarlac Expressway (SCTEx) will be collecting an additional 51 centavos per kilometer from motorists using the thoroughfare.

This, after the Toll Regulatory Board (TRB) approved the 2011 petition of the Bases Conversion and Development Authority (BCDA) for the adjustment of toll fees at the SCTEx. Nlex Corp. now operates the tollway. The government agency transferred the operations and maintenance of SCTEx to Nlex Corp. in 2015.

Under the approval, motorists with Class 1 vehicles (ordinary cars) traveling from Mabalacat City (Mabiga Interchange) to Tarlac will pay an additional P20; for Class 2 vehicles (buses and small commercial trucks) the additional toll is P40, and Class 3 vehicles (large trucks/trailers), P60.

Meanwhile, motorists traveling between Mabalacat and Tipo in Subic will be charged an additional P32, P66 and P98 for Class 1, 2 and 3 vehicles, respectively.

The concession agreement of SCTEx actually allows for a yearly adjustment of toll fees, but only the 2011 petition has been approved. It has pending petitions dating from 2012 to 2016.

The toll operator pointed out in an advisory that, “Although SCTEx toll rates have remained at 2011

51 centavos The additional per-kilometer rate to be imposed on motorists using the SubicClark-Tarlac Expressway (SCTEx) starting on Friday levels, infrastructure improvements along the 94-kilometer tollway have continued.”

Nlex Corp. added that it has “invested in various enhancement projects in the high standard expressway to maintain motorist safety and convenience.”

It cited the integration of the Nlex and SCTEx as an example, which paved the way for a unified toll collection system for the two expressways, reducing stops and bottlenecks— and waste in the process.

Nlex Corp. also noted the massive asphalt pavement upgrade in 2017 of the Tarlac to Tipo stretch, and the construction of the Tipo Toll Plaza and the new Mabiga Interchange.

Aside from these, Nlex Corp. stressed that it had improved the operations of the toll road by, among others: implementing a 24/7 traffic monitoring and provision of roadside services, installing a modern traffic control room (TCR) with CCTV cameras and radio communications, providing LED highway lights, emergency call boxes, crash cushions and reflective delineator plates.

PhilHealth chief: No mafia here, fraud being probed

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THIS developed as outgoing Sen. Joseph Victor Ejercito, who chaired the Senate Committee on Health and Demography, opposed the reported plan to suspend implementation of the Universal Health Care law on account of the alleged anomalies hounding PhilHealth.

Ejercito said patients who badly need dialysis should not be made to suffer “because of allegations of fraudulent transactions within PhilHealth.”

In a statement sent through text message to Senate reporters, Ejercito stressed that PhilHealth should be allowed to continue providing health services “but [it must] ensure the authenticity of those who avail [themselves]of the services.”

He pointed out that the UHC law provides stiffer sanctions against “unethical and fraudulent” transac-

tions, insisting that these should just be “implemented properly.”

For instance, Ejercito said a health-care provider who commitrs an unethical act, abuses his authority, or performs a fraudulent act shall be punished by a fine of P200,000 for each count or suspension of the contract up to three months or the remaining period of its contract or accreditation. It shall also constitute a criminal violation punishable by imprisonment of six months and one day up to six years. “It will be unfair for the rest to be deprived of PhilHealth’s services. Investigations should continue and appropriate charges should be filed,” said Ejercito.

Ejercito recalled Presidential Spokesman and Presidential Legal Counsel Salvador Panelo saying that President Duterte had ordered the PhilHealth management to file criminal charges against those who misused the funds for years. “The President instructs the institution’s acting president to submit a detailed report on these irregularities. We will put a stop to this corruption and we will make sure that the law on universal health care is strictly enforced,” he said. Butch Fernandez

HE Philippine Health Insurance Corporation (PhilHealth) on Sunday denied there is a “mafia” in the agency and vowed to launch a corporatewide intensive fraud detection and enforcement activities that “will catch the thieving, deceiving, and villainous officials and their band of brothers among hospitals and other healthcare facilities”.

In a statement, PhilHealth acting president and CEO Dr. Roy Ferrer, said that “no mafia can survive under the watch of Philippine President Rodrigo Roa Duterte.”

President Duterte was quoted by a television network saying, “I do not have the slightest doubt on the integrity and honesty of PhilHealth President Roy Ferrer,” in the midst of a controversy involving the alleged by a private dialysis center that continued to seek PhilHealth funds on behalf of patients who had long died.

Duterte has ordered the arrest of the medical facility owner.

“No member shrinks from the challenge to cleanse PhilHealth of shenanigans,” Ferrer said, adding that “Our top management executives who are directly under me are loyal to the higher ground principles and policies of a PhilHealth, and no villainous mafia member can survive within their ranks,” Ferrer emphasized.

Ferrer also clarified that socalled “mafia members” in the countryside are actually members of a syndicate of cheating, disloyal, and disgruntled PhilHealth officers who have colluded with hospitals and other health care facilities. Due to the campaign that PhilHealth in

his watch launched in coordination with the National Bureau of Investigation (NBI) and other enforcement agencies, “this syndicate will soon disintegrate,” Ferrer stressed.

Ferrer said some of the cheats have already been suspended, others are being investigated, a few others will soon be charged in court for criminal offenses.

He noted that a few months into his tenure, he ordered a reshuffle of regional vice presidents who responded with threats, refusals and delaying tactics. The PhilHealth chief reiterated he had already ordered an inventory of all administrative cases that have not yet been completed, and supported senior officers assigned to hear these cases with a view to a speedy resolution.

Aside from intensified investigations, spot checks of health care providers have been equally stepped up. It set up a dialysis database, a system for validation of multiple claims and of deceased patients, and adopted the Machine Learning Identification, Detection and Analysis System (Midas) that analyzes voluminous claims data to detect overutilization, among others.

As a result, in the first quarter of 2019 alone, the state health insurer has decided on 34 cases against 14 facilities and professionals; and is currently hearing 4,419 cases more.

As of April this year, it also reported completion of 1,432 investigations even as it continues investigating close to 9,000 more reports of fraudulent activities where the highest numbers of cases come from Calabarzon, Northern Mindanao and Davao regions. Claudeth Mocon-Ciriaco

construction projects, estimated at P115.8 billion, rose 13.8 percent over the P101.7 billion registered in the first quarter of 2018. Residential construction projects, valued at P45.2 billion, accounted for 39 percent of the total. This is a 29.8 percent contraction from the P64.4 billion during the first quarter of 2018.

However, the construction of nonresidential buildings, amounting to P54.3 billion, posted an increase of

74.7 percent over the P31.1-billion value in the first quarter of 2018.

This was attributed to the increases in the construction values of all types of nonresidential construction projects led by commercial structures, which grew 119.4 percent.

In terms of the value of construction, the combined shares of the top 5 regions, amounting to P89.9 billion, comprised 77.6 percent of the total.

The National Capital Region

(NCR) or Metro Manila, which ranked sixth in the number of construction projects, was the highest in terms of value estimated at P36.4 billion or 31.4 percent of the total.

The other regions in the top 5 in terms of value were Calabarzon with P16.4 billion or 14.2 percent of the total; Davao region, P15.2 billion or 13.1 percent; Central Visayas, P12 billion or 10.4 percent; and Central Luzon, P9.9 billion or 8.5 percent of

the total.

The construction statistics were obtained from approved building permits related to administrative-based data on new construction projects.

This also included permits obtained for additions, alterations and repairs of existing residential and nonresidential buildings, and other structures proposed to be constructed in all cities and municipalities of the country in a specific period.

Drilon seeks special audit of PhilHealth fund, JV bucks suspension of UHC implementation ENATE Minor it y Leader Franklin Drilon has pressed for a comprehensive audit of the government’s multibillion-peso health insurance program, prodding the Duterte administration to “send people to jail” as soon as anomalies are verified.

In an interview with dwIZ at the weekend, Drilon called on the Commission on Audit (COA) to act promptly amid worries that huge public funds in the delivery of the government’s health care insurance program could be in peril even before the recently passed universal health care (UHC) law is fully implemented.

Asked about PhilHealth issues, Drilon replied: “I am calling on COA to conduct a special audit because we are talking about huge public funds here.” “The Universal Health Care is for everybody, more so for the poor to have sufficient supply of medicine and health services,” Drilon pointed out over the weekend.

He added: “If it is true that many rackets are being perpetrated in the PhilHealth program, the COA must conduct a special audit because we cannot tolerate this.”

Once anomalies are verified, charges must promptly be filed, the

www.businessmirror.com.ph

there is punishment. We need to file charges so the offense won’t be repeated,” said Drilon, a former Justice secretary, Meanwhile, even before July 22, he will already request COA Chairman Michael Aguinaldo to start a special audit of PhilHealth and UHC disbursements.

Suspension opposed

Economy BusinessMirror

www.businessmirror.com.ph

Food processors ask govt to fast-track deregulation of PHL sugar industry

By Elijah Felice E. Rosales @alyasjah

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HE higher cost of local sugar is making it doubly difficult for Philippine food processors to compete with their counterparts in Southeast Asia, exporters said over the weekend.

The Philippine Food Exporters Inc. (Philfoodex) called on the government to expedite efforts to liberalize the sugar trade industry.

Authorities, it said, should address the long-standing concern on the prohibitive cost of local sugar by deregulating the industry and allowing the open importation of the staple.

Philfoodex President Roberto C. Amores said in a statement that small firms are most affected by the import restriction, as it makes them less competitive in the region.

“Our domestic processors, comprised mostly of small entrepreneurs, are really hurting from Asean competition. The high cost of sugar in the local market is killing the local industry, but favoring foreign competition,” Amores said.

Refined sugar in Thailand is priced between P31 and P34 per kilo, cheaper than the P60 to P65 per kilo range here in the country, according to Amores.

Candy makers, for instance, had claimed they are losing their share in the domestic market due to the “restrictive” policy on sugar importation. They said it is becoming hard to produce in huge volumes when the retail price of sugar is surging, as it makes up 60 percent

of the cost of a confectionery item.

Sales of confectionery products in the Philippines amount to some P30 billion annually, of which imported goods account for 30 percent (P9 billion) at present, from 5 percent in 2010.

A long w it h t he Phi lippine Chamber of Commerce and Industry and the Philippine Exporters Confederation Inc., Philfoodex is hoping the government delivers on its commitment to open up sugar trade. Then Budget Secretar y Benjamin E. Diokno in January said the government is planning to deregulate next, after rice, the importation of sugar.

Amores argued the liberalization of sugar trade will benefit all sectors, including farmers, manufacturers and consumers.

“We are glad that our government is listening to our concerns because this has become a burden on our part.

We absolutely cannot compete with similar products from Asean because our sugar is relatively too expensive,” the Philfoodex chief said.

In response to proposals to liberalize sugar trade, National Federation of Sugar Workers Secretary General John Milton Lozande in February said opening up the domestic market to imported sugar will result in the displacement of more than 700,000 sugar workers and 75,000 planters.

This could spell doom to the agriculture sector, Lozande said. He warned the eventual displacement will add to the growing job losses in agriculture that increased to 1.8 million from July 2016 to July 2018.

BSP chief wants PSA to conduct monthly Labor Force Survey

By Cai U. Ordinario @caiordinario

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ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is proposing to collect data for the Labor Force Survey (LFS) on a monthly basis to better monitor the country’s employment situation.

In a recent roundtable with the BusinessMirror, Diokno said he has long been an advocate of conducting the LFS monthly. Data for the LFS are collected by the Philippine Statistics Authority (PSA).

Currently, the LFS is done on a quarterly basis. The first data is collected in April covering the January-to-March period followed

by July covering the April-to-June period; October for the July-toSeptember period; and January of the following year for the Octoberto-December period.

“I think we also have the capability to do so given the big data.

So it’s just a matter of time that we will have access to a monthly data on employment,” Diokno said. “With technological improvements and big data, I think that can be done.”

Diokno said that while the proposal has not yet been formally made to the PSA Board, he has spoken to Socioeconomic Planning Secretary Ernesto M. Pernia regarding the matter on various occasions.

It is worth noting that the PSA already used GPS and the Computer Aided Personal Interview (Capi) to obtain the latest LFS data.

When asked about Diokno’s proposal, Pernia told the BusinessMirror over the weekend that he will have to evaluate the situation and decide on the matter.

Newly appointed National Statistician Claire Dennis S. Mapa said the PSA will look into the feasibility of conducting the LFS monthly.

“The schedule for the rest of 2019 is for a quarterly Labor Force Survey, with the July 2019 and October 2019 rounds remaining. But we will study the proposal once presented to the PSA.” The PSA is an attached agency

“I think we also have the capability to do so given the big data. So it’s just a matter of time that we will have access to a monthly data on employment.

With technological improvements and big data, I think that can be done.”

—Diokno

of the National Economic and Development Authority (Neda). The PSA is governed by the PSA Board, which is chaired by the socioeconomic planning chief.

The PSA Board decides on various matters concerning the Philippine Statistics System, including reviewing statistical operations, standards and classifications.

The latest LFS data for April showed that both the unemployment and underemployment data slowed to 5.1 percent and 13.5 percent, respectively. The employment rate also improved to 94.9 percent in April 2019 from 94.5 percent in the same period in 2018.

In a briefing, Mapa said the number of unemployed and underemployed Filipinos fell by 74,000 and 1.226 million, respectively.

Despite the good numbers from the April round of the LFS, Pernia said the Philippines cannot rest on its laurels. He said efforts to improve the labor market must continue to meet the government’s targets.

Government programs, which include the Government Internship Program, JobStart Philippines Program and apprenticeship, need to be enhanced to strengthen the labor market while also making it more flexible, he added.

Pernia said there is a need for a comprehensive income protection program through a more vigilant enforcement of work-safety regulations, aggressive employment facilitation and unemployment insurance to protect workers from unsafe working conditions and economic disruptions.

Editor: Vittorio V. Vitug • Monday, June 10, 2019 A5

Customs brokers to DOF: Withdraw order on goods lodgement declaration

THIS BusinessMirror file photo shows containers stacked at the Manila North Harbor in Manila. Customs brokers are urging the Department of Finance to rescind an order which will cut the period for the lodgement of goods declaration to seven days.

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By Rea Cu

@ReaCuBM

HE Professional Customs Brokers Association of the Philippines Inc. (PCBAPI) urged the Department of Finance (DOF) to withdraw a Customs Memorandum Order (CMO) which shortened the period for the lodgement of goods declaration from 15 days to seven days.

In a position paper dated June 5 sent by the group to the DOF, PCBAPI President Reynaldo T. Soliman appealed to the government to rescind

CMO 18-2019 covering the lodgement of goods declaration. PCBAPI, said the memo is not aligned with the provisions of the Customs Mod-

ernization and Tariff Act (CMTA) or Republic Act (RA) 10863.

“The practitioners Customs Brokers, thru PCBAPI are praying to the good wisdom of [the] secretary to immediately order the Commissioner of Customs to suspend and withdraw immediately the issued CMO 182019,” the position paper read.

The group sent its position paper to Finance Secretary Carlos G. Dominguez III. The Office of the President and the Anti-Red Tape Authority were furnished a copy.

Under the CMTA, the PCBAPI said the Customs Commissioner is empowered to implement the provision ordering the filing and lodgement of goods declaration within a 15-day period, as well as extending the period for another 15 days if needed, for a total of 30 days.

Soliman said there is no provision under the CMTA that the BOC commissioner can reduce the period stipulated in the law for the period of the lodgement of goods declaration.

“A memorandum from the Commissioner cannot amend, repeal and overrule the legislative power given to Congress and the supervisory power of the Secretary of Finance over the BOC,” the paper read.

“Therefore, Good Secretary, BOC CMO 18-2019 is inconsistent and null and void from the start based on RA 10863 or the CMTA and it is arbitrary in nature,” it added.

PCBAPI also said international shipping lines that do not have ample space in their designated container yards caused the recent port congestion and not local importers, exporters and Customs brokers.

CMO 18-2019, the group said, is tantamount to penalizing importers and Customs brokers for problems they did not cause. PCBAPI said the memo, which will take effect on June 15, will also cause more abandoned shipments in the ports.

The group also said 15 days is not enough time for shipments to be covered by a letter of credit and to secure the necessary clearance from several government agencies.

In May, the BOC said it will implement by June two CMOs tightening control on the flow of goods in the country’s ports. CMO 18-2019 was issued on April 29, but its implementation was suspended to give way to a public consultation.

To streamline customs processes and operations, the BOC said on Sunday that it will implement in all ports nationwide its new computer-system modernization projects.

Goods Declaration Verification System, National Value Verification System, BOC Portal (Ticketing System), Document Tracking System and the BOC Dashboard are among the computer systems that will be formally implemented this month.

The BOC said the systems that will be implemented are designed to improve transparency and reduce opportunities for corruption, and provide seamless trade services with lesser human intervention.

These will also ensure simplified and accessible customs processes and services that will cater to the demands of the stakeholders and the public, and is also expected to further improve revenue collection and increase business opportunities.

PHL, Japan to hold 8th high-level infrastructure meeting in New Clark City

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—Officials from the Philippines and Japan would meet again this month for a high-level discussion on the progress of Japan-funded infrastructure projects under the government’s “Build, Build, Build” (BBB) program and other areas of economic cooperation between Manila and Tokyo.

The 8th Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation scheduled on June 18 will be held at the New Clark City in Pampanga, the Department of Finance said on Sunday.

Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Ernesto M. Pernia will chair the Philippine side, while Dr. Hiroto Izumi is expected to lead the Japanese delegation to the meeting, the DOF said.

The Philippine and Japanese economic teams are expected to sign on the same day the $202.04-million loan agreement for the Road Network Development Project in conflict-affected areas in Mindanao.

Although the first high-level joint committee meeting was first convened in March 2017, Dominguez said there were nine other loan agreements with Japan signed between October 2016 and January 2019. The agreements amounted to ¥398.82 billion (about $3.63 billion or P189.92 billion).

The high-level meetings were initiated by the Duterte administration to fast-track the rollout of its 75 big-ticket projects under the Build, Build, Build infrastructure program.

The nine loan agreements would be for the following projects:

Maritime safety capability improvement for the Philippine Coast Guard (Phase II);

Harnessing agribusiness opportunities through robust and

vibrant entrepreneurship supportive of peaceful transformation (Harvest);

Cavite industrial area floodrisk management;

Arterial road bypass (Phase III) in Bulacan;

New Bohol Airport construction and sustainable environment protection (Phase II);

Metro Rail Transit Line 3 rehabilitation project;

Pasig-Marikina river channel improvement (Phase IV);

North-South commuter railway e x tension (f i rst tranche of loan); and

Metro Manila subway (Phase 1).

The subway project is considered the single biggest venture under the Build, Build, Build program.

Citing data from the National Economic and Development Authority, the DOF said Japan remained the top provider of official development assistance loans t o t a l l i n g $ 6 .1 3 billion (47.51-percent share of the total ODA loan), a n d t h e N o. 5 provider of ODA grants amounting to $10 6.76 m i llion (4.45-percent share of the total ODA grants) as of December last year.

In February this year, the seventh meeting of the Jap a n - Ph i l i p p i ne s Joint Committee

on Infrastructure Development and Economic Cooperation met in Osaka, Japan discussed ways on expanding cooperation between the two countries in terms of addressing implementation bottlenecks in the BBB infrastructure projects.

During the meeting, Japan

announced that on top of its $202-million loan for the Road Network Development Project in Conf lict-Affected Areas in Mindanao, it is also extending a ¥3.2-billion grant assistance for peace and development projects in Mindanao. With a report from Rea Cu

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Planting root crops can help save Palawan’s threatened species Story & photos Jonathan L. Mayuga

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@jonlmayuga

group of indigenous people (IP) in Bataraza, Palawan, may soon become local biodiversity heroes by planting high-value crops— cassava and ube (yam)—while acting as protectors of Mount Mantalingahan Protected Landscape (MMPL) against environmental crimes in their ancestral lands.

A member of Kufa shows a newly uprooted cassava root crop at the group’s demo farm in Sitio Kusor, Bataraza, Palawan.

Members of the Kusor Upland Farmers’ Association (Kufa), a duly registered association with the Department of Labor and Employment (DOLE), are now learning how to make their ancestral land more productive.

Kufa, in partnership with the Municipal Agriculture Office of Bataraza, the Department of Environment and Natural Resources (DENR), Community Environment and Natural Resource Office (Cenro), Lutheran World Relief, and Philippine Root Crops Institute of the Visayas State University is getting the much-needed boost from the United States Agency for International Development (USAID) through its Protect Wildlife Project.

The group has established a 1-hectare demo farm for cassava and ube to improve and make sustainable the production of highvalue commodities.

The demonstration farm has a multipurpose shed courtesy of USAID Protect Wildlife Project and is serving as a training venue for community members and as production area for other crops for improved planting materials.

The USAID-Lutheran intervention in Bataraza aims to develop community enterprises in the multiple-use zones or production areas of MMPL and public lands of the five local government units (LGUs) in southern Palawan.

While Kufa was still starting, both as an organization and as a conservation enterprise, the members are optimistic of having the right market linkage for their produce.

Prior to joining the association, Kufa members have already been engaged in upland farming, with banana as their primary crop and source of income.

Many IP in Pa l awan are a lso k no w n to pl a nt ro ot c ro p s, suc h a s s weet pot ato a nd c a s sava , upl a nd r ice a nd cor n for food subsi stence.

T he P rotec t W i ld l i fe - sup ported livelihood activity, to increase their income, then introduced vegetable farming, which was participated in mostly by

women, both for sel ling and food subsistence.

With the introduction of vegetable, improved variety of cassava, and ube as additional crops for farming, both in the demonstration farm allotted for Kufa’s livelihood activity and in the members’ farmlands, members now have diverse sources of income and are not dependent on one type of crop only.

Kufa currently gets material support of mainly farm inputs from different sources, including vegetable seeds that were bought from commercial sellers and cassava cuttings for the next planting

season taken from the previous season’s harvest.

On the other hand, ube planting materials are provided for by Sunlight Foods who has invested in Kufa through its contractgrowing scheme.

Rubenita Once, 52, president of Kufa, said last year, they started learning best practices in cassava and ube farming in Cebu and Tacloban, Leyte, last December.

The 55-strong Kufa is dominated by women with 42 women members.

Once, or Aling Inday to her members, used to be the wholesaler of IP members’ produce, which she, in turn, brought to the town’s trading center.

“Before, our members are mere housewives. Their primary job is taking care of their children.

Now, as members of Kufa, they get to earn from upland farming,” she said.

According to Once, IPs have indigenous knowledge in upland farming, but the slash-and-burn method is no longer allowed in Bataraza.

“From this batch of ube, after harvesting, members of Kufa will be given planting materials for them to use and continue planting. Sunlight Foods will buy all our products from this demo farm, and soon, the produce of our members in their respective farms, too,” Once said.

She said planting ube and cassava, in a way, will help protect and conserve Mount Mantalingahan with the help of IPs instead of them cutting trees and hunting threatened species.

MMPL, which is named after Mount Mantalingahan, is the first protected area in Palawan.

Its area is shared by five LGUs, including Bataraza.

A key biodiversity area (KBA), it is one of the 10 sites for the Alliance for Zero Extinction in the Philippines and one of the 11 important bird areas in Palawan.

Most of the threatened and restricted-range birds of the Palawan Endemic Bird Area are in this protected area. MMPL is critical for providing various ecosystem

Protecting the forest and stopping illegal wildlife trade is a livelihood issue. We cannot just tell them to stop hunting birds without offering alternative livelihood.”—San Diego

Members of Kusor Upland Farmers’ Association fix the pyramid-type stakes in preparation for planting of ube at their 1-hectare demo farm in Sitio Kusor, Bataraza, Palawan.

services that benefit the local communities.

The Total Economic Value of Mount Mantalingahan is estimated to be worth $5.8 billion. These ecosystem services include water, soil conservation, flood control, carbon sequestration, nontimber forest products, and the high potential of waterfalls, caves and other areas for tourism.

MMPL has a total of 33 watersheds making it a vital source of water in southern Palawan.

Mount Mantalingahan is also the source of income and livelihood of many upland-dwellers.

Slash-and-burn farming has become rampant on the mountain, aggravating occasional timber poaching and hunting of threatened species like the talking mynah and blue-naped parrot, which are popular pets even among the locals.

By introducing a better source of income or livelihood, the USAID Protect Wildlife Project partners hope to reduce the human pressure on Mount Mantalingahan.

For every sack of ube a member produces, Once said a member is assured of P300 additional income. Extra income from cassava or vegetable they chose to plant in their farms will improve their livelihood.

This, Once said, is a big help for members whose family sometimes have only cassava or root crop to share on the table.

“At USAID-Protect Wildlife Project, we are introducing behavioralchange communication. This is a different approach to environmental campaigns. We are introducing it in Palawan. We have trained LGUs staff and local campaigners on this approach in promoting positive change and behavior that will contribute to better conservation actions,” said Lawrence San Diego, communications manager of Protect Wildlife in southern Palawan USAID-Protect Wildlife.

At Kufa, San Diego said a multifaceted approach was applied for improved conservation action.

“Protecting the forest and stopping illegal wildlife trade is a livelihood issue. We cannot just tell them to stop hunting birds without offering alternative livelihood,” he said.

Members of Kufa, he said, are trained and provided an alternative source of income, to discourage them from hunting wildlife or practicing destructive agriculture, such as slash-and-burn farming.

A farmer holds rice stalks. Tomohiro Ohsumi/Bloomberg

Your bowl of rice is hurting climate more than you think

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co-conscious consumers are giving up meat and driving electric cars to do their part for the environment, but what about that bowl of rice?

Global rice farming, it turns out, could have the same detrimental effect on global warming in the short term as 1,200 average-sized coal power plants, according to the New York-based Environmental Defense Fund (EDF) advocacy group.

That means the grain is just as damaging over the long term as annual carbon-dioxide emissions from fossil fuels in Germany, Italy, Spain and the UK combined.

As the sheer size of the staple food’s carbon footprint becomes clearer to scientists, companies, including the maker of Uncle Ben’s rice and Olam International Ltd., the world’s second-biggest rice supplier, are starting to source more of the grain from farms that aren’t flooded, a widespread cultivation technique that releases methane gas into the atmosphere.

“The amount of attention that rice receives for these issues is relatively small compared to the size of the problem,” said Paul Nicholson, who heads rice research and sustainability for Olam from Singapore. “People are very informed on their chocolate, coffee, hair-care solutions, but rice is an afterthought.”

Rice is the staple food of hundreds of millions of Asians and by far the most polluting grain—emitting twice as much of the harmful gases as wheat. Yet, it hasn’t been in the spotlight as much as, say, beef, which produces far more emissions per calorie and along with other animal products is the culprit behind almost 60 percent of greenhouse-gas emissions coming from food.

That’s changing as socially conscious consumers, especially in Europe and Nor th America, increasingly demand evidence that the foods they spend their money on are doing the least harm to the environment—and treating farmers and workers in developing countries fairly.

With agriculture emitting almost as much greenhouse gas as transportation, those demands will only intensify.

For millennia, rice farmers from Spain to Indonesia have relied on the practice of flooding paddy fields because it stops weeds from growing.

But there’s a big drawback: submerging the crop allows tiny underwater microbes to decay organic matter, producing methane, a greenhouse gas that is 25 times more potent than carbon dioxide even though it lingers in the atmosphere for a shorter time.

Growing rice in flooded conditions causes up to 12 percent of global emissions of methane, a gas blamed for about one quarter of global warming caused by humans.

The Sustainable Rice Platform (SRP), overseen by the United Nations and International Rice Research Institute (IRRI), is trying to promote change.

Earlier this year, the Bangkok-based body released updated guidelines on growing rice more sustainably by, for instance, alternately wetting and drying the crop rather than keeping it flooded, not burning what’s left of the crop after it has been harvested, using organic fertilizers and promoting fair working conditions.

The SRP is working with thousands of farmers in countries like India, Nigeria, Thailand and Vietnam to give them a score based on these and other factors, with its work funded by corporate members and nongovernment organizations.

Rice that complies with the standard will eventually be eligible to carry an “SRP-verified” logo, a certification that

will be rolled out later this year—giving consumers a choice for the first time.

Mars Inc., the producer of the Uncle Ben’s brand popular in the US and Europe, shifted to sourcing 87 percent of its rice under the standard this year, a ratio it expects to boost to 100 percent by 2020.

Olam, too, said it’s pursuing initiatives to get farmers to grow sustainable rice in five Asian and African countries.

“We are working with farmers to develop new methods,” said Louke Koopmans, Mars Food’s global sustainable sourcing manager.

As an example, she said the company’s work with 2,500 basmati rice farmers in India and Pakistan has reduced water use by 30 percent, along with increasing their crop yield and boosting their wages.

“It requires a careful dance of water levels to manage two populations of microbes,” she said.

But alternative growing methods carry their own risks.

While farmers can drastically curtail overall emissions if they alternate between wetting and drying, this only works if they flood the crops shallowly.

Otherwise as water levels fluctuate, it brings in oxygen, which mingles with the nitrogen in the soil and fertilizers to release nitrous oxide, according to K. Kritee, a scientist at the EDF. Nitrous oxide is 300 times more damaging than CO 2 and stays around for more than 100 years longer.

“It requires a careful dance of water levels to manage two populations of microbes,” she said.

To reduce emissions risk from both gases, a study by the EDF in India suggested keeping the water level between 5 centimeters above the surface and 5 cm below.

Over a 20-year horizon, total greenhouse-gas emissions from rice could take the same toll on the environment as 1,200 coal plants, with the impact dropping to the equivalent of 600 coal plants over 100 years, EDF research shows.

While a lot of farmers in countries like Vietnam, Cambodia and LaoPDR are already being encouraged to grow rice on non-flooded fields, part of the challenge is that farmers need to be trained, for instance, in how to use field water tubes to measure moisture levels.

Rolling out such methods in India and China, where rice is a daily staple, will be difficult because of the prevalence of smallscale farms where the grain is produced by families for their own consumption.

At the moment, it can take more than 1,400 liters of water to produce 1 kilogram of rice, according to the IRRI. Olam and SRP aim to train 150,000 farmers by 2023 in Asia and Africa. But even that will barely move the needle, accounting for only 0.1 percent of the households farming rice globally.

One solution for the environment, according to Kritee, would be for consumers to shift to eating more alternative grains— like maize and wheat—that leaves less of a footprint.

But rice consumption is rising in Europe and the US as more people adopt vegetarian and vegan diets. Even so, the US makes up less than 1 percent of total consumption, compared with almost 50 percent in China and India.

To meet growing demand in the next 25 years, rice production must increase by 25 percent, according to the IRRI. “It’s a dilemma how to deal with this because rice is a staple and of deep cultural value for all in Asia,” Kritee said.

Bloomberg News

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Air pollution causes 1 in 8 deaths worldwide It threatens biodiversity and human survival.

By Rolando A. Inciong

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Special to the BusinessMirror

eat air pollution.” This was the theme of this year’s World Environment Day, celebrated by 193 countries all over the world. The day is observed annually to promote worldwide awareness and action for the protection of the environment.

Some air pollution facts from United Nations Environment Programme (Unep): It causes one in eight deaths worldwide.

Indoor air pollution kills 4.3 million people every year.

It damages crops.

92 percent of people worldwide do not breathe clean air.

It costs the global economy $5 trillion every year in welfare costs.

Ground-level ozone pollution is expected to reduce staple crop yields by 26 percent by 2030.

The Unep has identified five major sources of air pollution: households, industries, transport, agriculture and wastes.

Household air pollution comes from the indoor burning of fossil fuels, wood and other biomassbased fuels for cooking, heating and lighting homes.

The Unep said energy production is a leading source of air pollution. Coal-burning power plants are a major contributor, while diesel generators are a growing concern in off-grid areas. Industrial processes and solvent use, in the chemical and mining industries, also pollute the air.

The global transport sector accounts for almost one-quarter of energy-related carbon-dioxide emissions. Transport emissions have been linked to nearly 400,000

premature deaths.

The Unep reported that agriculture has two major contributors to air pollution: livestock, which produces methane and ammonia, and the burning of agricultural waste.

Around 24 percent of all greenhouse gases emitted worldwide come from agriculture, forestry and other land-use.

Open waste burning and organic waste in landfills release harmful dioxins, furans, methane and black carbon into the atmosphere. The Unep said that an estimated 40 percent of waste is openly burned.

UN report on air pollution

According to the World Health Organization (WHO), every year around 7 million people die prematurely from diseases caused by air pollution. That is 800 people every hour, or 13 every minute, dying because of the dirty air they breathe.

Approximately, 4 million of these deaths occur in the AsiaPacific region.

The Global Assessment Report on Disaster Risk Reduction 2019, published by the UN Office for Disaster Risk Reduction (UNDRR), exposes how threats—such as air pollution, diseases, earthquakes,

Photo by Arifin Al Alimudi/ACB Zooming in for Biodiversity Photo Contest Entry

drought and climate change— combine and feed on each other to exacerbate their impact on human health and the environment.

“People and assets around the world are being exposed to a growing mixture of hazards and risks in places and, to an extent, previously unrecorded. Heatwaves mixed with drought conditions can trigger intense wildfires that cause high levels of air pollution… a perfect storm is created by the complex interlinkages of different natural and anthropogenic events and processes,” the UNDRR report says.

“As one of the most significant environmental hazards after climate change, air pollution contributes to the global burden of disease through atmospheric concentrations of greenhouse-gas emissions and their precursors, particulate matter, heavy metals, ozone and associated heatwaves,” the UNDRR report adds.

China in the forefront of fight versus air pollution

This year’s main event celebration was hosted by China in Hangzhou in Zhejiang province. Vice Minister Zhao Yingmin of Ecology and Environment of China,

in announcing China’s hosting of World Environment Day, said “China has demonstrated tremendous leadership in tackling air pollution domestically and is ready to help spur the world to greater action. Air pollution is a global emergency affecting everyone. China is leading the push and stimulating global action to save millions of lives.”

China, with its growing green energy sector, has emerged as a climate leader. The country owns half the world’s electric vehicles and 99 percent of the world ’s electric buses.

By hosting World Environment Day 2019, the Chinese government demonstrated its innovation and progress toward a cleaner environment.

Asean meets the challenge of air pollution

Executive Director Dr. Theresa Mundita S. Lim of the Asean Centre for Biodiversity (ACB) said the 2019 theme, “Beat Air Pollution,” is very relevant to the people of Asean, now more than ever, given that the WHO estimated that indoor air pollution in the Asean region has caused more than 376,000 premature deaths; while

US court weighs if climate change violates children’s rights

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ORT L A N D, O re gon — I n a courtroom packed with env ironmental activ ists, federal judges wrestled last week with whether climate change violates the constitutional rights of young people who have sued the US government over the use of fossil fuels.

A Justice Department attorney warned three judges from the ninth US Circuit Court of Appeals that allowing the case to go to trial would be unprecedented and would open the doors to more lawsuits.

“This case would have earthshattering consequences,” Assistant Attorney General Jeffrey Clark said.

He called the lawsuit “a direct attack on the separation of powers” and said the 21 young people who filed it want the courts to direct US energy policy, instead of government officials.

The young people are pressing the government to stop promoting the use of fossil fuels, saying sources like coal and oil cause climate change and violate their Fifth Amendment rights to life, liberty and property.

The judges seemed to feel the enormity of the case, which the plaintiffs’ lawyer compared in scope to the US Supreme Court’s Brown v. Board of Education ruling that mandated desegregation of schools in the 1950s.

If the case moves forward, the judiciary would be “dealing with different branches of government and telling them what to do,” said Judge Andrew Hurwitz, instead of issuing court orders telling of-

Supporters attend a rally for a group of young people who filed a lawsuit saying US energy policies are causing climate change and hurting their future. AP/Steve Dipaola

ficials to stop doing something deemed unconstitutional.

T he dire threat to people, p a r t ic u l a r l y t he y ou n g , d e mands such action, said Julia Olson, chief legal counsel for Our Children’s Trust, which is representing the plaintiffs.

“When our great-grandchildren look back on the 21st century, they will see that governmentsanctioned climate destruction was the constitutional issue of this century,” Olson told the judges.

The lawsuit asks the courts to declare federal energy policy that contributes to climate change unconstitutional, order the government to quickly phase out carbondioxide emissions to a certain level

by 2100 and mandate a national climate recovery plan.

The Obama and Trump administrations have tried to get the case dismissed since it was filed in Oregon in 2015.

“It’s just really disappointing to see the lengths that they go to—to not only not let us get the remedy that we’re seeking, but not even let us have the chance to prove our facts or present our case at trial,” said Nathan Baring, a 19-yearold from Fairbanks, Alaska, who joined the lawsuit when he was 15.

Baring said a social-media campaign in the early days featured the hashtag #KidsvsGov, which was changed to #YouthvsGov as they got older.

“I think eventually it’s just going to have to be #AdultsvsGov,” Baring said, laughing.

As the case drags on, sea ice that protects coastal Alaska communities from fierce storms is forming later in the year, leaving those villages vulnerable, he said.

The young people argue that government officials have known for more than 50 years that carbon pollution from fossil fuels causes climate change and that policies promoting oil and gas deprive them of their constitutional rights.

Lawyers for President Donald J. Trump’s administration say the young people didn’t find any “historical basis for a fundamental right to a stable climate system or any other constitutional right related to the environment.”

The lawsuit says the young are more vulnerable to serious effects from climate change in the future.

The American Academy of Pediatrics, 14 other health organizations, and nearly 80 scientists and doctors agreed in a brief filed with the appeals court.

They pointed out that the World Health Organization estimates 88 percent of the global health burden of climate change falls on children younger than five. The case has become a focal point for many youth activists, and the courtroom in Portland was packed.

If the ninth Circuit judges decide the lawsuit can move forward, it would go before the US District Court in Eugene, where the case was filed. The appeals court judges will rule later. AP

outdoor air pollution contributed to more than 149,000 premature deaths annually.

She explained that the Asean region, endowed with a diversity of species, forests, marine areas, oceans and wetlands, will stand to lose much of these natural richness if the quality of air continue to deteriorate, and along with this, the loss of biodiversity and ecosystems, which are key to the survival, development, wellbeing and prosperity of some 650 million Asean citizens.

She reported that the 10 Asean member-states, supported by the ACB, have a number of initiatives aimed at protecting the region’s rich biodiversity and ecosystems from pollution and other drivers of biodiversity loss.

T he A sean Her itage Park s (AHP) Programme, for example, promotes conservation of biodiversity-rich protected areas through effective management, including preventing all forms of pollution.

The majority of these AHPs are forest areas, which play a key role in the battle against climate change, releasing oxygen into the atmosphere, while storing carbon dioxide.

Fore s t s a re c a l le d “g re e n lungs” of the Earth and are vital to the survival of people against air pollution.

The Asean also has an initiative to reduce g reenhouse emissions from peatland fires through the Asean Agreement on Transboundary Haze Pollution.

Lim said the Asean has been gradually adopting the biophilic approach to greener and more sustainable cities.

Scientific studies have proven that with more trees in the city, the prevalence of childhood asthma tended to drop. So as the urban areas in the region expand, more and more subnational governments are planning to build cities that

are greener, biodiversity-friendly, thus less polluted.

Humans: Both problem and solution

Most causes of air pollution come from human activities. But humans can also be the solution to this global problem.

Lim said industries can put in place technologies that will reduce the release of air pollutants from their operations. They can spearhead and mobilize their company personnel and even the public to plant native and appropriate vegetation in their surrounding areas that will help absorb carbon, and reduce airborne and respiratory problems in nearby communities.

The ACB supports such biodiversity-friendly initiatives from the private sector.

On transportation, Lim explained that the public can be encouraged to use alternative means of transport—such as bicycles, skateboards or scooters—to reach closer destinations, and to call for dedicated lanes to be set up for the purpose.

The practice of reducing, reusing and recycling of waste can also start at home. Waste segregation can reduce the volume of residual waste, and methane emission from saturated landfills.

“The World Environment Day is not the only chance to demonstrate that if human activities are the cause of pollution, humans can also be the solution.”

“Let us make each day of the year an opportunity to practice green lifestyles and behavior. Let us all promote green living by decreasing our carbon prints, using environment-friendly products, clean technology and renewable energy to help ensure an environment with healthy biodiversity and ecosystems that will contribute to sustainable development, human development and human survival,” Lim emphasized.

U.N. agencies urge stronger efforts to stop illegal fishing

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ANGKOK—Major United Nations (UN) agencies are urging key fishing nations to join efforts to fight illegal, unreported and unregulated fishing.

The UN Food and Agricultural Organization (FAO) and other groups made the call at a conference in Bangkok on Wednesday focused on helping protect fisheries and those working in the industry.

Thailand is the world’s biggest importer of tuna. It has one of the seven state-of-the-art centers in the region monitoring fishing vessels in real time to help control access to regional ports and curb illegal fishing.

The centers are helping enforce the Port State Measures Agreement, which aims to help curb illegal, unreported and unregulated (IUU) fishing. Dozens of governments have joined but UN officials are urging more to support the effort.

Illegal fishing costs countries in the AsiaPacific region some $5 billion a year; globally more than $20 billion. And rogue fishing vessels often engage in other crimes, such as piracy and human and drug trafficking, abuses being fought along with the International Labor Organization and International Organization for Migration.

Preventing such vessels from selling illegal catches is the most vital element for stopping illegal fishing, Adisorn Promthep, directorgeneral of Thailand’s Department of Fisheries, said during a visit to the center in Bangkok.

“We also make certain that no IUU fish or products come to Thailand and this is going to be a big help to work against IUU,” Adisorn said in an interview.

A Pulitzer Prize-winning Associated Press investigation in 2015-2016 that uncovered severe rights abuses affecting migrant workers in Thailand’s fishing and seafood industries helped focus attention on the problem. The stories helped free more than 2,000 enslaved men from Myanmar, Cambodia, Thailand and Lao PDR, and led to more than a dozen arrests,

amended US laws and lawsuits seeking redress.

The European Union in 2015 gave Thailand a “yellow card” on its fishing exports, warning that it could face a ban on EU sales if it didn’t reform the industry.

Thailand’s then-military government responded by introducing new regulations and setting up the command center to fight illegal fishing.

During a recent visit, about a dozen staff in the surveillance center were keeping a roundthe-clock watch on the positions of fishing and other vessels to see if they were operating in areas they were not authorized to fish in.

The system includes detailed online records and photographs of each vessel, their crews, logs and other information that is verified by officials at ports before the ships are allowed to unload catches, refuel or restock.

The FAO estimates that almost a third of global fish stocks are degraded from overfishing, and a further 60 percent are “fully exploited.” Illegal catches account for much of the overfishing, or up to 26 million tons a year, at times nearly one-fifth of the total harvest from the sea.

And while the systems are improving and expanding, they are not fail-safe. In some cases, small-scale fishers are unfamiliar with territorial limits in traditional fishing areas, said Simon J. Nicol, a senior fishery official at the FAO’s Bangkok office.

Adisorn agreed that relatively recently established boundaries and controls can be a problem for some fishermen, especially artisanal, small boats. But having fishing vessels comply means a “level playing field,” he said.

Ultimately, Nicol said, the aim is not just to combat illegal fishing, but to try to ensure sustainable use of fisheries at a time of declining stocks of some species, such as the bluefin tuna favored by sushi bars.

“We are on the right track,” Nichol said. AP

A10 Monday, June 10, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Making affordable housing possible

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RIVING around Metro Manila allows one to see the vast and positive transformation that has taken place in the metropolis in the last 30 years. The skyline is packed with tall and modern commercial, office, and residential buildings.

The same is true in the country’s other urban centers like Cebu, Davao, Iloilo, Bacolod and many other booming regional areas.

Property sector consulting firms that have been doing business in the Philippines for decades do not talk about projections for one or two years down the road, but speak about where the country is headed 10 or even 20 years in the future.

As in many other businesses—a good example being communication connectivity—the Philippines has been 20 or 30 years behind the world, and still is in many respects. Other nations, even those considered “developing” had landline penetration of 80 to more than 90 percent when we were still figuring out how to make that happen. We never had widespread fixed line communications because by the time we adopted a development program, mobile communication made the telephone “obsolete.”

The backlog for 21st-century housing is staggering, providing for a continuing decades-long demand.

Much of the property development in the past 20 years has been both commercial and office space as it should be. Businesses need a “home” so that they can provide employment opportunities, so that workers of all economic classes can then afford to buy residential properties.

There is no question, though, that residential housing that has been developed only provided more supply to the higher groups in the economic food chain. But the evolution of the property sector continues.

The Philippine Statistics Authority reported that construction activity increased by 10.4 percent in the first quarter of 2019 over the same period last year. That is good news. Private construction, rather than government, accounted for 82 percent of total construction activities.

That is better news.

By type of construction, residential buildings accounted for 69.2 percent of the total. That is the best news.

Valid concerns, however, have been made that housing for the lower economic groups has been neglected. That is not good news. The Organization of Socialized and Economic Housing Developers is an industry group that pushes for more of this type of housing and has been doing this for 20 years. Ten private and nongovernment organizations formed an alliance last year called the Socialized Housing Alliance Roundtable Endeavor (Share) to forge a stronger collective partnership in this sector.

Both groups have asked the newly created Department of Human Settlements and Urban Development to establish housing one-stop processing centers in every region to facilitate the issuance of construction permits. There’s also a request that funds be set aside to make as soon as possible Section 23 of the DHSUD law operable regarding these processing centers.

The government is good at “talking,” which is what passing a law really is. The “walking” part is getting these laws properly implemented on a timely basis. Look how difficult it has been to get the “Ease of Doing Business” law into action.

Since 2005

BusinessMirror A broader look at today’s business

Businesses help save the environment Atty. Jose Ferdinand M. Rojas II

RISING SUN

T

HE world celebrated World Environment Day on June 5, encouraging global awareness and action toward decreasing air pollution, which is this year’s theme. Individuals and organizations are encouraged to do something to take care of Mother Earth. Meanwhile, businesses the world over have also started to realize that helping or spearheading campaigns that solve environment-related problems, along with poverty and hunger, is not just hip but is actually good for business. Organizations are starting to realize that the world needs them and that they cannot rely completely on government and civic actions to solve the problems that all of us share.

The World Economic Forum recently published a write-up detailing specific areas where businesses can have an impact on the campaign to save the planet. So to help celebrate World Environment Day and share information that has the potential to inspire others to join the efforts, I wish to share the discussions here.

First on the list is the sugges-

AmBisyon Natin 2040 Atty. Lorna Patajo-Kapunan

✝ Ambassador Antonio L. Cabangon Chua

LEGALLY SPEAKING

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tion for business organizations to invest in nature-based solutions.

This means putting some money into nature-based efforts to reduce carbon. Some examples include the preservation and conservation of marine protected areas, forests, soil, coastlines and ocean.

The creation and promotion of a circular economy is also highly

N

OW that the midterm elections are over, our elected public officials both at the national and local levels should be reminded of their mandate to enact legislation to implement, at the macro and micro level, the Socioeconomic Agenda announced by President Duterte when he assumed office.

On October 11, 2016, President Duterte signed Executive Order (EO) 5 “Approving and Adopting the Twenty-Five Year Long Term Vision Entitled AmBisyon Natin 2040 As Guide For Development Planning.”

The 25-year vision foresees a Philippines that is a “prosperous, predominantly middle-class society where no one is poor.” It also envisions Filipinos with “long and healthy lives,” being smart and innovative, and living in a “high-trust society.” Under this long-term vision, the government will aim to “triple real per-capita incomes and eradicate hunger and poverty by 2040, if not sooner.” An appropriate set of milestones shall be identified to guide the successive medium-term development plans. (Section 2 EO 5) To implement AmBisyon Natin 2040, the National Economic and Development Authority (Neda),

tasked under EO 292 (s. 1987) as the independent planning agency of the government primarily responsible for formulating continuing, coordinated and fully integrated socio and economic policies, plans and programs, will lay down a solid foundation for a more inclusive growth, a high trust society and a globally competitive economy. It is guided by the Duterte administration’s 10-Point Socioeconomic Agenda (see neda.gov.ph), as follows: 1) Continue and maintain current macroeconomic policies, including fiscal, monetary and trade policies.

2) Institute progressive tax reform and more effective tax collection, indexing taxes to inflation.

3) Increase competitiveness and the ease of doing business.

4) Accelerate annual infrastructure spending to account for 5 percent of GDP, with public-private

Governments are encouraged to come up with carbon-pricing schemes so that more companies will invest in cleaner production, thereby reducing their carbon emissions, or to fund research into fuel cells or renewable energy subsidies. Experts argue that if greenhouse-gas emissions become expensive, businesses are going to clean up their act and even “help shape carbon markets we need in the future.” encouraged. A circular economy is one where products are designed in such a way that they don’t have to be immediately thrown out but rather reused or recycled. Organizations have the resources and capability to create business models, like the sharing economy, so people don’t need to own or buy stuff like we used to.

The use of clean technology— solar energy and other low-carbon energy options—is highly encouraged as this has been proven to reduce CO2 emissions from electricity generation. In fact, when clean technology is used, it does not only help

address climate issues. According to the WE Forum report, it also helps tackle “illegal fishing, increase the traceability of materials, enabling better management of forests using satellite imagery and on-the-ground sensors.”

Finally, governments are encouraged to come up with carbon-pricing schemes so that more companies will invest in cleaner production, thereby reducing their carbon emissions, or to fund research into fuel cells or renewable-energy subsidies.

Experts argue that if greenhousegas emissions become expensive, businesses are going to clean up their act and even “help shape carbon markets we need in the future.”

Scientists say we only have a few years to act, before it becomes too late. Children and children’s organizations all over the world have stepped up their campaigns to call for bigger efforts to save the planet.

Every single action counts. Individuals and families have to do their part.

Businesses have to wake up and work with everyone else, too, because they can certainly create greater impact considering their size, resources and influence.

partnership playing a key role.

5) Promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism.

6) Ensure security and land tenure to encourage investments, and address bottlenecks in land management and titling agencies.

7) Invest in human capital development, including health and education systems, and match skills and training to meet the demand of businesses and the private sector.

8) Promote science, technology, and the creative arts to enhance innovation and creative capacity toward self-sustaining, inclusive development.

9) Improve social protection programs, including the government’s Conditional Cash Transfer program, to protect the poor against instability and economic shocks.

10) Strengthen implementation of the Responsible Parenthood and Reproductive Health Law to enable especially poor couples to make informed choices on financial and family planning.

Specifically, the Plan Targets according to Neda are as follows: 1. The Philippines will be an upper middle-income country by 2022.

2. Growth will be more inclusive as manifested by a lower poverty incidence in the rural areas, from 30 percent in 2015 to 20 percent in 2022.

3. The Philippines will have a

high level of human development by 2022.

4. The unemployment rate will decline from the current 5.5 percent to 3 to 5 percent in 2022.

5. There will be greater trust in the government and in society.

6. Individuals and communities will be more resilient.

7. Filipinos will have greater drive for innovation.

Supporting strategies include: n Ensure a sound, stable and supportive macroeconomic environment n Level the playing field through a National Competition Policy Bedrock Strategies are: n Attain just and lasting peace n Ensure security, public order and safety n Accelerate infrastructure development Neda’s AmBisyon Natin 2040 needs to be subjected to review.

Stakeholders from the government, civil society and the private sector must give their objective assessment on whether the first three years of the Duterte administration has brought us closer to the vision of “Filipinos enjoying a strongly rooted, comfortable and secure life.”

Is the government walking its talk and getting the needed support by way of appropriate implementing laws by our legislators. Or are our legislators just talking the talk?

We have the next three years to know the answer!

Opinion BusinessMirror

www.businessmirror.com.ph

Single and ready to incorporate

Best investment of all time Siegfred Bueno Mison, Esq.

THE PATRIOT

Luke Michael Valdez

DEBIT CREDIT Part One

W

HEN the Revised Corporation Code recognized the One Person Corp. (OPC), and following the release of guidelines for its establishment on May 6, 2019, no one is as happy to welcome such development as the individual entrepreneurs looking to enjoy the benefits that a corporation has.

Now, new business owners may be looking to kick off their company as an OPC directly. On the other hand, existing sole proprietorships may want to convert their businesses into an OPC. However, before we jump ship on which type of business we may want to register, it is important to assess where we will ultimately be better off. Let’s see where an individual business owner will find his or her true happiness.

One characteristic of a corporation that sole proprietorships envy is limited liability. Corporations, upon successful registration, acquire their own juridical personality. This enables corporations to contract using their corporate name unlike for sole proprietorships who are forced to enter under the individual business owner’s name. So what’s the advantage of this? The answer lies in the fact that creditors are able to get a sole proprietor’s personal assets if worse comes to worst.

As a separate entity aside from its single shareholder, an OPC acts as a blanket of protection for individuals.

For any outstanding debt the corporation is unable to pay, creditors can’t ask for the application of payment using the assets of its single shareholder. This advantage is useful if you’re not looking to co-mingle your business assets with your personal

one, as you never know when they may be taken away.

However, this advantage is not really absolute. An OPC must also prove that it was adequately financed in order for the liability not extend to the single shareholder. It goes without saying that when authorities figure out that the OPC is being used for fraudulent purposes, its single shareholder should be ready to carry all the liabilities of the errant OPC. An OPC is subject to corporate tax regulations and requirements just like any other corporation. Is that an edge over sole proprietorship?

Maybe yes, maybe no. For tax purposes, there is no clear-cut winner on who has the advantage.

A detailed analysis of the tax implications of the OPC will be discussed in the second part of this article.

To be continued Luke Michael Valdez is a consulting associate of UpSmart Strategy Consulting Inc., a financial consultancy firm that specializes in strategic finance, structuring and restructuring of start-ups, social enterprises and SMEs. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com.

Diseases are killing our food, but don’t panic

By David Fickling Bloomberg Opinion

F

ROM reading the news you could be forgiven for thinking the plagues of Egypt have descended on the world’s farms.

African swine fever, a livestock disease likened to Ebola, is cutting a swath through China’s 440 million-strong pig herds, and could lead to as many as 200 million being culled. Hot on its heels is the fall armyworm, a crop pest that could spread across the whole of the country’s 130-million-hectare crop belt within a year, eating up supplies of corn and sugar cane. Over in the US, the wettest 12 months on record have left farmers unable to plant corn and soybean crops. Is the specter of hunger about to return to the world?

Calm down.

Look, for instance, at the Bloomberg Agriculture Subindex, which tracks the prices of major farm commodities going back to 1960. A month ago it touched its lowest level since the early 1970s, having fallen about 14 percent in the past year.

There are fundamental reasons behind that. In cereals, the most crucial element of food supply, the world has spent five years building up a formidable surplus of 855 million metric tons, split roughly 3-5-2 between wheat, corn and rice. That stockpile is about 50 percent bigger than it was at the start of the decade, while consumption has risen by less than 20 percent to 2.28 billion tons.

This cushion means that we’re a long way from global shortages. Stocks-tousage ratios are running around 30 percent; well above the low-teens that tend to predict higher prices. Even the stocks-to-disappearances ratio for major exporters (arguably a better predictor of price rises) is only marginally down from recent levels at 17.6 percent.

That’s because there’s a world of food production beyond the US and China. The yield, or output per hectare, of Russia’s wheat crop is forecast to be the second

highest on record this year. Productivity is also at record levels for India’s rice and wheat farmers, and corn in Ukraine.

On top of that, some of the world’s food disasters this year could be complementary. Bad weather and trade wars are likely to put a dent in American exports of soybeans and corn-derived animal feed to China—but with all those hogs being culled, there’s likely to be a lot less demand for such products, anyway. Indeed, poor conditions for next year’s corn and soybean plantings is in one sense just what America’s farm belt needs, given the near-record crops forecast this year for the former and a glut of the latter, which pushed prices to their lowest levels in a decade in May. Many of the biggest risks to agriculture now are political, rather than environmental. The US posted its biggest agricultural trade deficit on record in April, an extraordinarily rare outcome for a country that’s traditionally one of the world’s biggest exporters. And the threat of swine fever and armyworm in China would diminish if the country was not so dedicated to using the appetites of its people as a trade-war bargaining chip.

To be sure, the world’s agricultural trade is always just a few terrible seasons away from disaster. Thanks to poverty, war and social breakdown in Africa, the Middle East and Latin America, there were 821 million undernourished people in 2017, the highest level in nearly a decade. About three-quarters of that number live in the countries whose farms are most exposed to the increased variability of the world’s climate. And consumption of cereals, after running short of production for the best part of a decade, is now outpacing the volume of new crops coming in from the fields.

Still, with hefty stocks to fall back on, there’s no reason to think current conditions are any more dangerous than they’ve been in the past. While current events are a wake-up call about the fragility of our food security, our stomachs will be full for a good while yet.

T

O invest or not to invest? Almost all investors would want to have dividends paid for their investments, with a high return or ROI, which is the ratio between the net profit and cost of investment of some resources, usually measured in money.

As my financial consultant tells me, a high ROI means that the investment gains favorably compared to its cost. Aside from ROI, other investment metrics include Rate of Return (ROR), which measures a project’s time frame, or Net Present Value (NPV) that accounts for differences in the value of money over time, due to inflation. When investors reap their rewards early, they can reinvest in other ventures or make use of such resources in other investments. Hence, the viability of any financial investment is always anchored on the value of time.

However, certain investors have accepted a new form of investment metric, called Social Return on Investment, which takes into account the nonfinancial impact of projects, such as social and environmental metrics not reflected in conventional financial reports. SROI helps businesses understand the value proposition of certain Corporate Social Responsibility (CSR) initiatives. For instance, the Pasig River Rehabilitation Project has incurred and will continue to incur immediate costs, which will likely negatively impact traditional ROI. However, such venture, when measured in terms of its net benefit to society and the environment, will most likely lead to a

positive SROI. I know of a few businesses that place ROI and SROI on equal importance. Mostly managed or financed by faith-based leaders, these companies thrive on helping people and societies and, at the same time, gain a respectable profit as reflected in their financial statements.

These leaders understand that the more important reward is not seen in the balance sheet.

In the Greek language, the word misthos stands for payment for one’s service. But as I recently learned, the term “reward,” as expressed in the numerous verses in the Bible, can also be translated to antapodidomi, which means “recompense or repaid fully.” Author and inspira-

Monday, June 10, 2019 A11

tional speaker Bruce Wilkinson has declared that believers would have two eternal judgments, one is destination (Heaven or Hell), which is determined by the presence of sin, and two is the extent of the reward, which is determined by how we lived our lives here on Earth as provided in the Bible in Romans 14:12, which tells us, “So then, each of us will give an account of ourselves to God.” Wilkinson explains that people will be judged first, by faith in God, or lack of it, and second, by investment of resources, whether anchored on ROI or SROI, which will determine their rewards.

Focusing on Wilkinson’s second eternal judgment, the word “reward,” which appears 3,220 times in the Bible, will be measured by our own investments. How we invest our resources (time and money) will be the principal or sole metric in His eyes. I have some friends, successful in their respective professions, who readily and willingly heeded the call for gift-giving activities to the less fortunate or the underprivileged sectors of society.

With just one phone call or a text message, generous friends like Irene, Kay, Lisette, Tessa and Maribel will invest some of their resources (clothes, toiletries, food, money,) for depressed community, jail and orphanage visitations—activities with a high SROI. A former colleague in the Bureau of Immigration, Thea Ifurung, is one other person who wisely invested her resources in organizing efforts to distribute water filters (converting rain water to safe

drinking water) for the indigenous community in Sitio Calapi in Mabalacat, Pampanga. Little did she know that I was assigned in that community when I was a 22-yearold lieutenant.

While others might think that sharing their blessings will return to them in the form of greater blessings, Wilkinson says that the more important rewards for such good deeds are not realized during their lifetime. In the Bible, 1 Corinthians 3:13-15 tells us, “their work will be shown for what it is, because the Day will bring it to light. It will be revealed with fire, and the fire will test the quality of each person’s work. If what has been built survives, the builder will receive a reward. If it is burned up, the builder will suffer loss but yet will be saved—even though only as one escaping through the flames.”

Thus, aside from sticking to our convictions in our faith, we should also build on people, the less fortunate ones especially, by touching them and sharing to them what we have.

Some call it generosity; others call it corporate social responsibility. I call it the best investment whose rewards are far greater and beyond any metric—ROI, ROR and NPV combined!

I am not certain as to the depth of the convictions of my generous friends. What I know is that they invest in people, not to be instantly rewarded here, but, consciously or unconsciously, to be rewarded in His time.

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

Opec, the future is probably worse than you thought

S

By Julian Lee | Bloomberg Opinion

AUDI ARABIA and Russia are on a collision course.

On Friday the International Energy Agency (IEA) will publish its first forecast of oil market balances in 2020. The headline figures will probably show stockpiles rising next year if the Opec+ producer group doesn’t extend output cuts into a fourth year.

But their pain may not end there.

Growing signs that demand growth is turning out to be much weaker than expected may require producers to make even deeper cuts. If so, that could spell the end of the partnership between Saudi Arabia and Russia on oil policy.

The production restraint agreed in November and December 2016

by Opec and a group of supporting countries—Russia was the only one that offered a substantial voluntary reduction—was meant to drain excessive inventories and bring global supply and demand into balance during the first six months of 2017.

By mid-2019 that still hasn’t happened, despite a prolonged period of relatively robust demand growth that has seen the world’s oil consumption increase at an average rate of 1.4 percent per year over the period from 2017 through 2019, according to the most recent IEA figures. That’s equivalent to around 1.33 million barrels a day of additional demand each year.

But the IEA has made a big cut to its assessment of oil demand in the

first quarter. While the annual average figure hasn’t come down much, the move is worrying because it covers the only period for which we have any real data on consumption. The assessment may be cut further as more numbers come in and reductions to forecasts will almost certainly follow for subsequent periods.

Speaking at the Saint Petersburg International Economic Forum on Friday, Russian oil Minister Alexander Novak suggested that the trade wars could help push global demand growth this year below 1 million barrels a day. That would be the lowest level since 2011.

A Morgan Stanley report published last week argued that “there is growing evidence of a sharper-thanexpected slowdown” in oil demand growth. Year-on-year increases are “grinding to a halt” across March and April for eight early-reporting countries, including China, India and the US. That is worrying because the IEA expects those three countries alone to account for 70 percent of the world’s oil demand growth this year.

So where does that leave the producers? Whenever they next meet, it is almost certain they will decide to extend the current policy of restraint until the end of the year.

Sure, there may be some tweaks to the actual target levels for some countries—Kazakhstan wants to be able to produce more, as output rises from its giant Kashagan field.

Russian oil companies also want restrictions eased, but any decision will ultimately rest with President Vladimir Putin, not the country’s energy industry.

But just extending the current deal may not be enough. The Opec+ group has adopted stockpiles as its measure of success, with the focus shifting from the relatively opaque global figure to the highly visible US inventory numbers, published each week.

The latest figures from the Department of Energy made grim reading for the producer group. Total inventories of crude and refined products soared by 22.44 million barrels in the last week of May— the biggest week-on-week increase in data going back almost 30 years.

And that wasn’t the only worrying number.

Monthly data for the first quarter and initial weekly assessments for April and May show US oil demand falling year on year in three out of five months so far in 2019.

The Organization for Economic

Cooperation and Development estimates that trade tensions have already cost the world close to 1 percentage point of growth. The OECD last month cut its global forecast for 2019 economic expansion to 3.2 percent from 3.9 percent. With demand growth tied closely to economic growth, these cuts bode ill for oil consumption.

Although both the Saudi Arabian and Russian oil ministers talked up the benefits of the Opec+ deal at the Saint Petersburg forum, Russia’s President Vladimir Putin had earlier asserted that the two countries “have certain differences in opinion regarding the fair price” for crude.

The Russian leader says $60-65 a barrel—which is around the current level—“suits us just fine.”

While the Opec+ ministers may be able to get away with extending their deal for another six months, a crunch is going to come when Russia decides it has had enough of restraint. For now, export restrictions resulting from the lingering contamination problems with its export pipeline to Europe are helping keep the nation’s output below its target, but once that is resolved, the industry will once again press to boost production.

Even Putin may balk at asking Russian oil companies to make deeper cuts to support prices. If he does, the Opec+ cooperation will start to unravel.

Donald Trump’s three-letter threat to Brexiters

By Therese Raphael Bloomberg Opinion

A

S Theresa May steps down as Conservative Party leader on Saturday, one thought may occur to her. Had Donald J. Trump’s state visit this week come, say, six months earlier, the course of Brexit might look very different. Her rejected deal could even have succeeded.

All the president had to do was utter three letters: NHS. Trump’s statement that Britain’s state-run National Health Service and “everything else” would be on the table in any future trade talks may have been a throwaway line. But it sure got everyone’s attention.

Trump rowed back the comments the next day, saying he doesn’t consider the NHS a trade issue. Too late; and it very much is one, as Woody Johnson, the US ambassador, made perfectly clear in

a television interview before the president’s visit. The NHS buys medicines, devices and services from the US. There is no common language between American and British conservatives on the subject. Republicans hold up Britain’s state-run health system as an example of the dangers of socialism.

The Trump administration argues that single-payer systems with control over drug prices “free ride” off American innovation. British Conservatives couldn’t disagree more. Even though the opposition Labour party introduced free health care at the point of delivery, it is nowadays politically sacrosanct for both parties. Remember that it was a highly effective (but untrue) claim that leaving the European Union (EU) would trigger a windfall for the NHS that helped to swing the referendum result. Now the future of Brexit is again tied up with the NHS, thanks to Trump’s reminder.

If it wasn’t already apparent by the presence of pharma industry reps at a closed-door breakfast with Trump this week, the US Trade Representatives’ negotiating objectives leave no doubt that health care is in their sights: That doesn’t mean that the US would, as some have claimed, seek to privatize the NHS. The pressure would come from challenging how the service decides which drugs to approve for reimbursement and the pricing decisions it makes, a process that the Pharmaceutical Research and Manufacturers of America (PhRMA) has called a “blunt costcontainment tool.”

The NHS spends about £17.4 billion ($22 billion) a year on medicine.

The figure has been growing roughly 5 percent a year, much faster than the overall health budget, but is still low by EU standards. The government controls spending by determining which drugs

are made available and by influencing how doctors prescribe and pharmacists dispense drugs.

The industry has long complained that the National Institute for Health and Care Excellence, the government body that approves medicines and treatments, is too stingy and denies patients access to life-saving drugs. Since manufacturers know that NICE evaluates the cost-effectiveness of a drug, it influences their pricing strategy.

Companies can haggle to get approval—but those agreements remain confidential. Take Kadcyla, a breast-cancer drug developed by Roche Holding AG. At a price of £90,000, NICE decided it wasn’t cost-effective. But some 115,000 people signed a petition calling it for it to be made available. Eventually, the NHS and Roche negotiated a deal allowing the estimated 1,200 people in the UK affected by the cancer to use it.

5 13 in

T

HE broader look at today’s business is obviously well appreciated.

The country’s leading national business daily was named “Business Newspaper of the Year” for 2018-2019 at the Rotary Club of Manila’s Centennial Journalism Awards. It is the fifth time the Rotary Club of Manila has recognized the BusinessMirror in its short—13—years of existence.

In 2006, on its first year as a business daily, BM was adjudged “National Newspaper of the Year,” an honor it would receive again in 2011.

In 2013 and 2017, the RCM named the BusinessMirror the “Business Newspaper of the Year.”

Five Rotary awards in 13 years of bringing the best in business reporting.

Certainly the best way to cap multiple triumphs from the most prestigious institutions of Philippine journalism in 2018 and 2019.

The business broadsheet was recognized in October 2018 as the “Business News Source of the Year” by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies.

It also swept half of the individual categories at the Ejap awards, with its seasoned reporters adjudged as best in their respective coverages: Bianca Cuaresma for Banking; Cai Ordinario for Macroeconomy and the National Economic and Development Authority; Catherine Pillas for Trade and Industry; and Jasper Emmanuel Arcalas for Best Business Feature.

The BusinessMirror was also distinguished as the inaugural “Data Champion” of the Philippine Statistics Authority’s first awards rites, as Arcalas bagged the individual category award for “Best Data Reporting.”

It was quickly bestowed yet another honor in the Institution category for print in the first “Bantog Science for the People” awards for media from the Department of Science and Technology, where Science Photojournalist Stephanie Tumampos captured the grand prize in the individual category.

Thereafter, BM also shone brightest at the 12th Bright Leaf Agriculture Journalism Awards where, for the first time in its history since 2007, a single news outfit won two awards in two consecutive years. Arcalas bagged the “Best Agriculture Feature Story (National)” and with Ordinario the “Best Agriculture News Story (National).”

The streak continued with Environment Reporter Jonathan Mayuga getting the Luntiang Aligato award by the Climate Reality Project, a nonprofit organization founded by Nobel

Laureate and former US Vice President Al Gore.

The most recent awards before the Centennial Rotary Journalism rites came from the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC), which bestowed eight trophies on BM at the 2018 Binhi Awards.

Multi-awarded Agriculture/ Commodities reporter Arcalas repeated his feat in 2017 and was again named Agricultural Journalist of the Year (1st place) for 2018.

Arcalas also ranked third in the Agribeat Reporter of the Year

category, tying up with Madeleine B. Miraflor from the Manila Bulletin.

Veteran and multi-awarded Environment reporter Jonathan L. Mayuga was adjudged the second top Environmental Journalist of the Year.

The BusinessMirror’s Agriculture/Commodities Section edited by Associate Editor Jennifer Ng was named the Best

Agriculture/Environment Section of a National Newspaper. The BusinessMirror has won this award for the fourth consecutive year.

Six prestigious award-giving bodies, unanimous in their choices.... At “13 and forwardlooking,” the BusinessMirror not only gives a broader look at today’s business: It provides the best in business journalism.

The BusinessMirror @13

FORWARD-LOOKING

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, June 10, 2019

B1

Top SMC exec warns NG of severe power shortage

T

By Lenie Lectura

@llectura

HE power business of conglomerate San Miguel Corp. (SMC) is keen on putting up more power plants that could generate 1,200 megawatts (MW) of additional capacity to help address a foreseen power shortage in the Luzon grid.

Daelim. “Papa-revive ko ang offer ng Daelim. Dati pa iyon.”

Ang noted that the Luzon grid’s reserves are thin and that more power plants should have been put up three years ago. “I hope they realize that grabe ang kakulangan ng kuryente. Baka magkaloko-loko soon.”

The country has been counting on a number of power plants to help augment its power requirements. These include the 1,200MW coal-fired power plant in Atimonan, Quezon, of Meralco Powergen Corp. (MGen), the power generation subsidiary of Meralco.

Commercial operation of the plant was pushed back because of regulatory and legal issues.

“Iyong sa Subic and Atimonan, lahat yun nasa drawing board. They were expecting lahat yun tatakbo.

Dapat bilisan nila ang CSP [Competitive Selection Process], advise nila ang DENR na bilisan ang ECC, bilisan ang kilos ng lahat kasi malapit na ang sobrang power shortage all over the country,” Ang said.

Aside from the planned 1,200MW peaking plant, SMC Global

Power planned to put up two 2x150-MW circulating-fluidized bed (CFB) coal-fired power plants under Central Luzon Premiere Power Corp. in Pagbilao, Quezon and Mariveles Power Generation Corp. in Mariveles, Bataan.

Similar to the stalled Atimonan project of Meralco, these two power projects are part of the power supply agreements (PSAs) of Meralco, which were filed before the Energy Regulatory Commission (ERC) for approval a day before the extended CSP deadline.

The CSP policy, which requires distribution utilities (DUs) and electric cooperatives to undertake competitive bidding to secure PSAs with generation companies, was issued by the Department of Energy (DOE) on June 30, 2015.

However, it was only implemented by the ERC on April 30, 2016, to give power players a transition period to comply.

With the recent SC ruling, Ang said they have no choice, but to comply with the CSP directive and had asked Meralco to start the CSP process.

SMC President Ramon Ang directed SMC Global Power Holdings Corp. Senior Vice President and General Manager Elenita Go to look at the possibility of constructing power-generation facilities near the 1,200-MW natural gas-fired power plant in Ilijan, Batangas.

SMC Global Power’s subsidiary South Premiere Power Corp. is the independent power producer administrator (IPPA) for the Ilijan plant.

“Ellen, magtanong ka nga magkano to put up dalawang gas tur-

bine na pareho ng Ilijan.

Magtayo ka ng dalawang bago, additional 1,200.MW, sa tabi ng Ilijan. Mauna ka magtayo; bilisan mo na,” Ang told Go during a recent roundtable with the media.

The planned power facility, Ang and Go said, could run on diesel as a peaking plant.

“Kahit paandarin mo ng diesel, mabebenta mo kuryente nyan kasi three to four months ang summer na hirap tayo sa kuryente.”

Go said she might discuss this with EPC (engineering, procurement and construction) contractor

Grab holds 5-day job fair to help deactivated drivers get other income sources

LTFRB asked not to alter biz format of TNVS

By Lorenz S. Marasigan @lorenzmarasigan

G

RAB is assisting thousands of its deactivated drivers to process their franchises with the Land Transportation Franchising and Regulatory Board (LTFRB) through a job fair.

Starting on Monday, June 10, Grab will be holding a five-day event that aims to introduce alternative sources of income to drivers, while their franchises are being processed.

“While we will be deactivating some of our drivers for lack of a provisional permit to drive, we also want to help them and welcome new ones onto our platform. Our program will guide and help them in applying for and hopefully, getting that permit quickly because we need more drivers, not less,” Grab President Brian Cu said on Sunday.

Grab is deactivating 8,000 drivers from the system on June 11 due to their lack of permit to operate.

Specifically, the transport network vehicle service (TNVS) Assistance Program will implement to drivers GrabConnect, a peer-todriver pairing program that will match vehicle owners and drivers, based on their schedules, locations, and payment schemes.

Likewise, deactivated drivers will be offered to be reassigned to other Grab verticals such as GrabExpress and GrabFood.

Aside from these, the event will have a help desk that will assist drivers in their application for a provisional authority or certificate of public convenience.

“It’s not the end for those who are about to be deactivated. Grab is here with them to embark on another exciting journey and to embrace them through other opportunities,” Cu said.

He noted that this is per Grab’s “commitment to support and sustain its partners and its community: It offers meaningful livelihood within its wide array of superapp services.”

By Roderick L. Abad @rodrik_28 Contributor

C

OMMUTER network The Passenger Forum (TPF) asked the Land Transportation Franchising and Regulatory Board (LTFRB) “not to change the business model of TNVS” or transport network vehicle service.

This came a day after LTFRB Chairman Martin B. Delgra III appealed on June 7 to TNVS drivers to work full-time to meet the demand of the ride-sharing market.

“We’d like to remind the LTFRB that TNVS are not taxis.

They have a different business model, which is rooted on the idea to maximize private vehicles for public transportation,” said Primo Morillo, convenor of TPF. The group’s officer contradicted the call of Delgra on all transport network companies (TNCs) to encourage their driverpartners to always go online to address the issue on a lack of supply, especially when ride-hailing app provider Grab deactivates at least 8,000 accounts from its current fleet of 45,000 drivers

by June 10 as planned.

“We have to understand that a large chunk of TNVS drivers are part-time because there are other things that occupy their time, be

it work or school. We can’t just suddenly make them resign from their day jobs or stop studying because we need to reach the demand,” Morillo said.

To meet passenger demand, the TPF convener said “there is no alternative to allowing enough TNVS units on the road.”

The LTFRB’s announcement on opening 10,000 new TNVS slots this coming week, according to him, “is in the right direction.”

“Let us see if it will be enough and we hope that the LTFRB will be open and swift in adding a few more slots if the recent opening of additional slots is proven insufficient to meet the demand of commuters,” Morillo said.

Jollibee to put up 5 stores in Guam

F

AST-FOOD giant Jollibee Foods Corp. said it plans to put up more stores in the United States and in Europe in the next five years, concentrating more on the Filipino communities.

The company last week inaugurated its milestone Jollibee store in Guam, a US territory, as it announced plans to grow to five Jollibee stores in the island in the next five years.

“As a growing business center and an island of incredible diversity and taste, Guam will make a great home for Jollibee,” said Ernesto Tanmantiong, the company’s CEO. “The customers that keep coming back are truly heartwarming. We are very excited to be here and are looking forward to what lies in store as we grow to five stores over the next five years,” he said.

Jollibee opened its milestone store facing Micronesia Mall in Dededo, Guam, in April 2019 to over 1,000 customers. The long queue of customers continued even weeks after the opening.

Jollibee also announced a yearlong partnership with nonprofit organization Mañe’lu in line with its commitment to strengthen ties locally. The company pledged support through a series of events that will bring joy to the local youth under the organization’s care.

In line with its accelerated expansion, the company said it has committed to grow to 150 stores in the USA and 100 stores in Canada in five years. Jollibee has also announced plans to open 50 stores in Europe over the next five years, with 25 in the United Kingdom. VG Cabuag

Megaworld to build more museums in developments

P

ROPERTY developer Megaworld Corp. will build three more cultural museums within its malls or hotels in its mixed-use developments all over the country to drive more foot traffic in its malls.

Tefel Pesigan-Valentino, vice president, and head of marketing and business development of Megaworld’s shopping mall arm, said the focus is to place culture and the arts in its properties.

The company broke ground on its second museum located inside its Lucky Chinatown Mall in Binondo, Manila, the company’s second.

“As we build communities, we want to understand culture and heritage. We want it to become a venue for people to interact with each other and tell stories,” she said.

The other sites include its development in Mactan-Cebu, which will focus on the 500th founding anniversary of the Philippines; and in Pampanga and Arcovia in Pasig, she said.

Valentino said it takes four years of research and curation to put up a museum.

The Binondo facility is located at the fourth level of Lucky Chinatown’s Building A. The museum features 18 galleries, with each focusing on various influences and historical events that have shaped the cultural, social and economic threads of Binondo.

The new cultural landmark, recognized by the National Historical Commission and National Commission for Culture and the Arts, is envisioned as a community space and

heritage project that lends a visual retelling of the rich history of Binondo.

“It has always been our goal to integrate arts, culture, history and heritage in the overall character of our developments.

With Lucky Chinatown being at the center of a community characterized by its rich history, we wanted to extend this passion for the arts and culture to the mall experience and eventually boost tourism in this part of Manila,” said Kevin Andrew L. Tan, the company’s senior vice president for commercial division.

Chinatown Museum is the second museum of Megaworld following the opening of the Iloilo Museum for Contemporary Art, the first museum of its kind in Visayas and Mindanao region, inside its Iloilo Business Park township in Mandurriao, Iloilo, last year.

“We conducted thorough research and consultations for this project, and we collaborated with members of the academe, respected historians and prominent figures in the community in order to provide an accurate and comprehensive representation of Binondo’s rich history. We went beyond a historical presentation of facts and we even developed the museum’s very own app to make it educational and, at the same time, entertaining, especially to the young audience,” Tan said.

The museum is open from Tuesday to Sunday. The company will charge P150 as its regular admission rate. VG Cabuag

B2

Companies BusinessMirror

Monday, June 10, 2019

PSE STOCK QUOTATIONS

June 7, 2019

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

58.5 139 81.5 26.8 11.5 70.9 13.26 57.2 57.35 110 27 170.1 60 1.18 2.25 18.74 4.38 7.74 0.49 760 0.98 183.2

59 139.8 81.8 26.9 11.52 70.95 13.86 57.25 57.75 119.9 27.5 171.9 60.25 1.22 2.26 18.76 4.46 8.6 0.5 799.5 1 184.9

59.5 139 81.5 26.9 11.54 70.65 13.98 57.9 57.75 110 27.6 172 59.9 1.18 2.23 18.74 4.5 7.83 0.495 755 0.99 184

59.5 139.8 81.95 26.9 11.54 71.15 13.98 57.95 57.75 110 27.6 172.5 60.5 1.22 2.25 18.78 4.5 7.83 0.52 800 1 184.9

59 138.2 81.4 26.75 11.48 70.55 13.98 57.05 57.3 110 26.85 170 59.9 1.17 2.23 18.74 4.35 7.8 0.49 755 0.97 184

59 139.8 81.8 26.9 11.5 70.95 13.98 57.2 57.3 110 27.5 171.9 60.25 1.22 2.25 18.76 4.49 7.8 0.5 785 1 184.9

8460 1343610 1663450 108200 103900 821680 3100 491360 1470 130 33000 116120 3360 61000 278000 1100 66000 85700 1360000 70 168000 160

499145 186968990 135912070 2905240 1195166 58232845.5 43338 28107789 84717.5 14300 887970 19946539 201380.5 72270 625300 20640 289290 670391 684200 55150 166370 29494

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE 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 CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.39 35.05 0.275 24.05 76.9 385.2 23.35 6.07 4.55 2.52 12.16 41.2 6.52 14.48 14.82 14.52 5.5 10.18 7.58 106.2 0.73 42.45 275 9.5 12.42 0.187 1.22 14.08 1.51 4.9 1.9 0.126 167.1 1.28 2.5 64.15 2.35 16 10.16 13.54 19.76 9.1 1.3 1.33 109 1.98 1.6 4.16 3.35 4.9 2.6 10.2 1.67 5.45 1.17 24.25

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.65 13.86 921 54.4 15.52 3.61 6.7 0.75 1.28 1.27 6.82 10.4 13.88 862 62.75 6 0.475 4.66 15.34 0.57 4.45 0.038 1.35 960 183 0.93 2.38 269 0.231 0.3

1.4 35.1 0.28 24.1 76.95 388.8 23.45 6.08 4.58 2.54 12.24 41.25 6.53 14.54 16.94 14.56 5.68 10.2 7.59 106.5 0.74 42.55 275.2 9.78 12.44 0.199 1.24 14.1 1.52 5 1.92 0.134 169 1.29 2.55 65.5 2.37 16.08 10.3 13.56 19.8 9.39 1.31 1.34 117 2 1.7 4.2 3.5 4.94 2.61 10.26 1.68 5.71 1.18 24.9

1.38 35.5 0.285 24 76.6 389 23.6 6.05 4.54 2.54 12.02 42 6.53 14.5 16.94 14.56 5.7 10.2 7.6 106 0.73 42.8 278 9.48 12.38 0.188 1.22 14.16 1.52 2.51 1.95 0.127 167.8 1.25 2.5 65.5 2.46 16 10.34 13.54 20.1 9.1 1.39 1.33 109 2 1.61 4.2 3.5 4.91 2.55 10.5 1.66 5.44 1.19 24.05

1.4 36 0.29 24.1 76.95 389.8 23.6 6.1 4.58 2.6 12.28 42 6.53 14.7 16.94 14.62 5.81 10.24 7.61 107 0.74 42.8 279 9.78 12.56 0.188 1.25 14.16 1.55 5 1.95 0.127 169 1.3 2.52 65.5 2.47 16.1 10.34 13.56 20.85 9.1 1.42 1.36 109 2 1.61 4.2 3.5 4.94 2.64 10.5 1.68 5.71 1.19 24.95

1.38 35.05 0.28 23.4 76.6 382.6 23.3 6.04 4.54 2.46 12 41.05 6.5 14.32 16.94 14.52 5.5 10.16 7.56 105.5 0.71 42.35 275.2 9.48 12.38 0.186 1.21 13.8 1.51 2.51 1.95 0.125 166.7 1.23 2.5 65.5 2.36 15.9 10.06 13.46 19.76 9.1 1.28 1.29 109 1.98 1.6 4.19 3.5 4.9 2.51 10.08 1.66 5.44 1.17 24.05

1.4 35.1 0.28 24.05 76.9 388.8 23.35 6.08 4.57 2.52 12.24 41.25 6.52 14.54 16.94 14.56 5.5 10.2 7.59 106.2 0.74 42.45 275.2 9.78 12.44 0.186 1.23 14.08 1.52 5 1.95 0.126 169 1.29 2.5 65.5 2.36 16 10.3 13.54 19.8 9.1 1.31 1.33 109 2 1.6 4.19 3.5 4.94 2.61 10.2 1.68 5.71 1.18 24.9

14000 759100 4170000 2014000 39600 90570 7086500 456800 40000 45082000 26400 330900 128200 212300 100 747600 18400 1914300 84400 271880 1084000 266200 542820 7700 695300 720000 1064000 869700 1313000 38400 20000 1530000 468410 5095000 1075000 150 19296000 307700 155600 575500 1109500 5000 6589000 5977000 10 65000 24000 3000 30000 12000 17219000 321000 205000 1000 195000 87400

19570 26691145 1177800 48118855 3045124.5 35073496 166125695 2772953 182870 113816700 321558 13644280 835780 3084978 1694 10877026 103574 19510388 639649 28866104 785220 11305405 149589436 73086 8669958 134440 1295820 12217046 2003130 191004 39000 192620 78676067 6512490 2689620 9825 46230460 4910868 1580728 7775804 22034220 45500 8805300 7935330 1090 129500 38480 12580 105000 58890 44681750 3262522 343060 5467 229160 2165210

145140 30853467 -14028282.5 381320 -453106 -43967147 -2413478 -58905 -9196410 -17973.5 3540 62400 -5466970 16763420 -2244045.5 -5100632 120523635 -1085472 -9653750 -3654725 -243480 572838 -87879 272603.9999 -423500 -5269807 1819965 -78739110 -2052154 -714250 5274572 167200 -4446187 -7070 2077500 11352210 2384670.0001 297996 1813116 -14352912 -274480 -116940.0003 -64832 -

HOLDING & FRIMS 0.66 13.98 923 55.35 15.56 3.62 6.8 0.78 1.29 1.31 6.84 10.44 13.98 879 63.4 6.23 0.5 4.67 15.38 0.59 4.46 0.039 1.37 963 183.1 0.96 2.47 270 0.235 0.305

0.62 14.2 928 54.8 15.56 3.7 6.7 0.75 1.27 1.29 6.94 10.38 14 861 62.65 6.16 0.51 4.7 15.1 0.57 4.43 0.038 1.36 951 185.4 0.94 2.38 266 0.232 0.31

0.67 14.2 928 55.35 15.6 3.7 6.7 0.78 1.29 1.32 6.94 10.46 14 879 63.5 6.23 0.51 4.7 15.48 0.59 4.46 0.039 1.37 963 186.9 0.97 2.38 270 0.235 0.315

0.62 13.84 919 54.15 15.4 3.52 6.7 0.75 1.26 1.29 6.81 10.36 13.8 858.5 62 6.16 0.5 4.64 15.04 0.56 4.37 0.038 1.36 942 181 0.92 2.38 264.2 0.23 0.3

0.65 13.86 923 55.35 15.52 3.62 6.7 0.78 1.28 1.32 6.82 10.44 13.98 879 63.4 6.23 0.5 4.67 15.38 0.59 4.45 0.038 1.37 963 183 0.93 2.38 270 0.235 0.3

73047000 70500 171120 458450 901200 3434000 15800 208000 1108000 146000 70500 494700 123300 26870 925150 12400 20000 6217000 1438500 425000 13261000 6400000 13000 102590 402040 1563000 2000 7720 570000 6830000

47422630 -252440 978376 157902140 5951315 25081317.5 -3419781 13975238 -5535378 12412030 400570 105860 105860 156410 1409480 190590 482470 -141568 5151278 -2746458 1707394 -299982 23229190 -348480 57949648.5 -44386476 76927 10100 28920870 -11263450 22052396 12708 246200 58528230 25553809.9998 243500 17690 97820570 -26846665 73522279 -1053539 1454750 4760 -4760 2064158 389928 131550 2078900 6300

PROPERTY

ARTHALAND CORP 0.77 0.78 0.81 0.81 0.76 0.78 663000 516970 ANCHOR LAND 10.64 11.06 10.18 11.06 10.18 11.06 7400 77304 AYALA LAND 49.8 49.9 50.1 50.75 49.7 49.8 8418480 421199450 -180510987 ARANETA PROP 2.06 2.1 2.1 2.1 2.1 2.1 47000 98700 BELLE CORP 2.31 2.35 2.33 2.35 2.31 2.31 436000 1016410 -48810 A BROWN 0.79 0.8 0.81 0.81 0.79 0.8 290000 229320 CITYLAND DEVT 0.96 0.97 0.97 0.97 0.96 0.97 114000 110440 CROWN EQUITIES 0.227 0.228 0.226 0.228 0.226 0.227 970000 220980 6780 CEBU HLDG 6.18 6.35 6.14 6.35 6.14 6.35 23800 146316 CEB LANDMASTERS 4.77 4.79 4.85 4.85 4.73 4.79 852000 4075150 -2218510 CENTURY PROP 0.58 0.59 0.58 0.59 0.57 0.58 33781000 19592550 1042840.0005 CYBER BAY 0.375 0.385 0.38 0.38 0.375 0.375 50000 18850 DOUBLEDRAGON 25.8 25.9 25.95 26 25.55 25.8 329600 8503530 3812335 DM WENCESLAO 9.95 10 10.1 10.16 9.95 9.95 244700 2448726 789283 EMPIRE EAST 0.475 0.48 0.475 0.475 0.475 0.475 40000 19000 FILINVEST LAND 1.8 1.81 1.79 1.83 1.76 1.8 48533000 87233990 634640 GLOBAL ESTATE 1.4 1.42 1.43 1.43 1.4 1.4 3126000 4392840 61630 8990 HLDG 15.84 15.98 16.24 16.3 15.52 15.98 1105800 17521686 1142108.0002 PHIL INFRADEV 1.98 1.99 2.03 2.03 1.96 1.99 6131000 12210600 738220 CITY AND LAND 0.86 0.87 0.84 0.88 0.84 0.87 476000 404160 MEGAWORLD 6.07 6.08 6.15 6.15 6.05 6.07 20240700 123262458 13208242 MRC ALLIED 0.315 0.32 0.315 0.32 0.31 0.32 10650000 3360350 120200 PHIL ESTATES 0.475 0.48 0.465 0.48 0.46 0.48 270000 129050 PRIMEX CORP 2.18 2.2 2.16 2.2 2.09 2.2 1238000 2645750 -335800 ROBINSONS LAND 26.25 26.3 26.05 26.5 26.05 26.3 1208200 31667760 10985830 PHIL REALTY 0.41 0.42 0.41 0.41 0.41 0.41 100000 41000 ROCKWELL 2.11 2.13 2.07 2.14 2.07 2.13 366000 771990 -2120 SHANG PROP 2.97 2.99 2.99 3 2.98 2.99 208000 622780 STA LUCIA LAND 1.95 1.96 1.94 1.96 1.92 1.95 856000 1664920 SM PRIME HLDG 39.15 39.35 39.15 39.5 38.95 39.35 2753100 107925110 -36177125 STARMALLS 6.31 6.42 6.32 6.5 6.31 6.31 86800 554409 26490 SUNTRUST HOME 0.72 0.74 0.74 0.74 0.73 0.73 275000 202050 VISTA LAND 7.06 7.15 7.11 7.15 7.05 7.15 4499300 32065624 -10422791

SERVICES ABS CBN 18.46 18.48 18.48 18.48 18.4 18.46 42300 780152 GMA NETWORK 5.31 5.38 5.4 5.4 5.23 5.3 155900 824983 MANILA BULLETIN 0.54 0.55 0.55 0.56 0.54 0.55 1542000 838580 MLA BRDCASTING 14.5 15.5 14.5 14.5 14.5 14.5 100 1450 GLOBE TELECOM 2236 2240 2230 2272 2230 2240 30235 67729890 6595310 PLDT 1230 1234 1232 1239 1230 1230 122420 151000080 -59839070 DFNN INC 5.86 5.88 5.7 5.88 5.7 5.88 14900 86970 -58800 IMPERIAL 1.8 1.92 1.9 1.94 1.8 1.92 50000 93240 ISLAND INFO 0.121 0.123 0.122 0.124 0.12 0.123 1160000 140620 ISM COMM 6.08 6.1 6 6.12 6 6.1 1379300 8378907 -136723 NOW CORP 2.34 2.37 2.5 2.5 2.33 2.34 5415000 13110880 90190 TRANSPACIFIC BR 0.375 0.385 0.375 0.385 0.365 0.385 10240000 3865300 PHILWEB 3.35 3.4 3.36 3.4 3.31 3.4 1220000 4097470 -1141060 2GO GROUP 11.36 11.38 11.34 11.4 11.32 11.36 11800 133926 11324 ASIAN TERMINALS 20.55 21.5 21.45 21.5 21.45 21.5 2100 45130 -36550 CHELSEA 6.52 6.54 6.46 6.6 6.46 6.54 536900 3508750 -87992 CEBU AIR 93.25 93.3 91.5 94.15 91.5 93.3 491330 45906979 3866827 INTL CONTAINER 136.9 137.5 136.5 138 136 137.5 1219190 167257984 20094547 LBC EXPRESS 15.1 15.46 15 15.5 15 15.5 22100 338012 LORENZO SHIPPNG 0.83 0.87 0.88 0.88 0.83 0.88 360000 307340 MACROASIA 20.25 20.3 20.3 20.5 20 20.3 1171600 23880295 20101545 METROALLIANCE A 1.53 1.66 1.53 1.55 1.53 1.53 28000 43020 METROALLIANCE B 1.53 1.67 1.52 1.67 1.52 1.67 4000 6340 PAL HLDG 9.5 9.55 9.5 9.65 9.5 9.5 12200 116760 HARBOR STAR 2.2 2.21 2.22 2.24 2.2 2.2 653000 1445080 8880 ACESITE HOTEL 1.31 1.37 1.31 1.31 1.31 1.31 85000 111350 BOULEVARD HLDG 0.058 0.059 0.057 0.059 0.056 0.058 20140000 1167000 DISCOVERY WORLD 2.05 2.17 2.18 2.18 2.18 2.18 5000 10900 WATERFRONT 0.7 0.72 0.72 0.73 0.7 0.72 959000 684150 CENTRO ESCOLAR 7 7.14 7.05 7.05 7 7 35500 248750 89060 IPEOPLE 10.16 10.3 10.3 10.3 10.3 10.3 1100 11330 STI HLDG 0.7 0.71 0.72 0.72 0.69 0.71 2103000 1484660 205230 BERJAYA 2.9 2.91 2.84 2.94 2.84 2.91 1361000 3941210 40560 BLOOMBERRY 11.9 11.98 11.84 11.98 11.84 11.98 1083000 12884854 -6413810 PACIFIC ONLINE 3.11 3.19 3.2 3.21 3.11 3.19 154000 487630 LEISURE AND RES 4.26 4.33 4.11 4.43 4.11 4.28 2619000 11252010 -3371750 MANILA JOCKEY 3.65 3.81 3.68 3.68 3.65 3.65 40000 146570 PH RESORTS GRP 4.62 4.95 4.87 4.95 4.87 4.95 9000 44070 PREMIUM LEISURE 0.77 0.78 0.78 0.78 0.77 0.78 3595000 2779220 431200 TRAVELLERS 5.18 5.19 5.24 5.24 5.19 5.19 88400 459337 -365047 METRO RETAIL 2.62 2.63 2.66 2.66 2.62 2.63 2697000 7090590 -134080 PUREGOLD 45.8 46.35 46 46.35 45.45 46.35 297500 13675070 -6786195 ROBINSONS RTL 72.45 73 72.95 73 71.5 73 271800 19666040 -10302304 PHIL SEVEN CORP 125.8 125.9 125.8 125.9 124 125.8 152230 18880447 247790 SSI GROUP 3.51 3.52 3.43 3.55 3.39 3.51 17178000 59964220 7195720 WILCON DEPOT 17 17.1 17 17.16 16.98 17 492300 8383360 4858776 APC GROUP 0.44 0.445 0.44 0.445 0.44 0.44 2170000 955000 EASYCALL 10.36 10.5 10.48 10.5 10.34 10.5 21600 224540 GOLDEN BRIA 398.4 412 400.2 430 378 412 33980 13609248 PRMIERE HORIZON 0.86 0.87 0.84 0.89 0.84 0.86 27840000 23987200 -1491940 SBS PHIL CORP 9.21 9.47 9.2 9.46 9.2 9.46 18500 174759

MINING & OIL ATOK 11 12.38 12.38 12.38 12.38 12.38 600 7428 APEX MINING 1.15 1.17 1.14 1.17 1.14 1.15 719000 824420 -344999.9999 ABRA MINING 0.0018 0.0019 0.0019 0.0019 0.0018 0.0019 256000000 485900 ATLAS MINING 2.67 2.8 2.71 2.71 2.7 2.7 4000 10810 COAL ASIA HLDG 0.28 0.295 0.28 0.28 0.28 0.28 50000 14000 CENTURY PEAK 2.81 2.86 2.8 2.86 2.8 2.86 217000 616240 -303260 DIZON MINES 7.64 7.69 7.75 7.75 7.65 7.65 8500 65187 FERRONICKEL 1.46 1.5 1.46 1.5 1.46 1.5 1711000 2521430 625270 GEOGRACE 0.23 0.233 0.241 0.241 0.228 0.233 410000 94970 LEPANTO A 0.11 0.113 0.112 0.114 0.11 0.11 2510000 282010 LEPANTO B 0.113 0.126 0.124 0.124 0.124 0.124 450000 55800 MANILA MINING A 0.0075 0.0079 0.0075 0.0075 0.0075 0.0075 1000000 7500 MARCVENTURES 1.03 1.05 1.03 1.03 1.03 1.03 41000 42230 NIHAO 0.98 1 1.01 1.01 0.96 1 20000 19350 NICKEL ASIA 2.23 2.25 2.31 2.31 2.22 2.23 1101000 2473550 -408040 OMICO CORP 0.56 0.57 0.54 0.58 0.54 0.58 117000 66040 ORNTL PENINSULA 0.87 0.9 0.88 0.88 0.87 0.87 19000 16600 PX MINING 3.22 3.25 3.34 3.34 3.22 3.23 536000 1747200 -97280 SEMIRARA MINING 21.85 21.9 21.75 21.95 21.6 21.9 601600 13150950 714795 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 500000 5900 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 2700000 29400 PHINMA PETRO 3.95 3.99 3.8 4 3.75 3.98 542000 2124050 PXP ENERGY 7.89 7.95 7.99 8.05 7.89 7.89 1422400 11288412 235144

PREFFERED

HOUSE PREF A 96 96.9 97 97 96.9 96.9 230 22304 AC PREF B2 486 496 496 496 496 496 1050 520800 SMC FB PREF 2 964 975 974.5 975 963.5 975 1610 1557950 FPH PREF C 455 458.8 456 456 456 456 20 9120 LR PREF 0.99 1.01 0.99 1.01 0.99 1 196000 196050 MWIDE PREF 100.4 102.5 100.4 100.4 100.4 100.4 800 80320 PNX PREF 3B 102.4 107 107 107 107 107 470 50290 PCOR PREF 2A 985 995 985 995 985 995 170 168150 PCOR PREF 2B 952 1009 960 960 911 911 60 55150 SFI PREF 1.36 1.7 1.36 1.36 1.36 1.36 4000 5440 SMC PREF 2C 77 77.8 77 77.8 77 77.8 1710 131918 SMC PREF 2D 72 72.1 72 72 72 72 22700 1634400 SMC PREF 2E 72.05 72.1 72.15 72.15 72.1 72.1 34730 2504264.5 721000 SMC PREF 2I 73.2 73.6 73.5 73.6 73.5 73.6 46100 3389210 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.96 5.2

18.4 5.27

17.96 5.29

17.96 5.29

17.96 5.2

17.96 5.2

300 47600

5388 250588

WARRANTS LR WARRANT

2.01

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.97 XURPAS 1.03

2.07

1.96

2.07

1.96

2.07

217000

441040

-

4.98 1.04

4.8 1.01

4.99 1.04

4.8 1.01

4.97 1.03

788000 3119000

3873310 3193810

24700 -213800

EXHANGE TRADE FUNDS FIRST METRO ETF

118.8

-163800

119.6

119

119.6

118.4

119.6

6280

745965

-

www.businessmirror.com.ph

EDC signs deal to supply power to Batangas hospital

L

By Lenie Lectura

@llectura

OPEZ-LED Energy Development Corp. (EDC) and the Mary Mediatrix Medical Center (MMMC) signed a contract for the supply of power to the hospital located in Lipa, Batangas.

Under the deal, EDC will supply MMMC 1 megawatt (MW) for two years. Electricity will be sourced from EDC’s BacMan Geothermal Inc.

“This contract symbolizes our commitment not only to our partnership, but also to our environment.

It is a good opportunity that First

Gen-EDC offered us this alternative energy solution. Not only will we be able to generate substantial savings through this initiative, but we will still be able to deliver high-quality health-care services to our patients without compromise,” MMMC CEO and President Dr. Robert Magsino said at the contract signing held in Lipa, Batangas.

“Geothermal power provides clean, renewable and reliable energy source that allows us to reduce our operation’s negative impact to the environment by reducing our carbon footprint. With this in mind, we look forward to mutually beneficial and strong partnership with First Gen-

EDC,” he added.

MMMC has been giving appropriate care to its patients in Southern Luzon since 1994. It received its ISO 9001:2008 certification in 2013, a proof of the hospital’s international quality standards.

EDC is one of the world’s largest geothermal producers and the country’s leading renewable- energy company with an installed capacity of 1,475 MW. For over 40 years, EDC has been implementing comprehensive environmental management programs that enhance the ecosystem and corporate social responsibility programs, ensuring inclusive growth for its partner communities.

OPPO snags PHL mobile-device market share

I

NNOVATIVE smartphone brand OPPO continues to be a market leader this year through investing heavily on their research and development to improve their phones’ quality and performance. OPPO is fairly new in the Philippines, five years to be exact, but the brand has already been vastly embraced by Filipinos.

“OPPO has come a long way in terms of product development, putting it alongside the big international

players. Quality and innovation is embedded in the DNA of the brand.

Our unhindered vision of an intelligent future has allowed us to continuously remain an industry leader,” said Jane Wan, OPPO vice president for marketing.

“In the Philippines, understanding the local culture and the Filipino consumer behavior is integral to our success. But it’s also our diverse offerings and groundbreaking smartphone technologies that has helped

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices were almost unchanged last week, despite the main index’s reaching past the 8,000-point mark, only to go down the next day and a measly recovery throughout the rest of the week.

The benchmark Philippine Stock Exchange index gained 13.96 points to close at 7,983.98 points.

Inflation numbers came in for the month of May at 3.2 percent, slightly higher than the previous month, but well within the government’s target range of 2.5 to 4 percent.

“Some investors may be concerned that inflation figures snapped a six-month decline.

However, it was indicated before the release that a jeepney fare hike in the Visayas region may have this effect on overall inflation, although with the massive drop in oil prices in the last couple of weeks, we may expect inflation to continue to decline in the following month,” said Christopher Mangun, research head at Eagle Equities Inc. Average daily trading for the four-day work week was at P6.22 billion, lower than the year-to-date average of P6.68 billion, while foreign investors were net sellers at P308.28 million.

Other subindices ended up mixed, with the All Shares index gaining a mere 0.42 points to 4,890.79. The Financials index rose 8.24 to 1,736.83; the Industrial index lost 80.41 to 11,554.03; the Holding Firms index was up 67.84 to 7,645.15; the Property index added 7.84 to 4,333.66; the Services index fell 12.44 to 1,670.68; and the Mining and Oil index shed 91.95 to 7,296.45.

Gainers slightly edged losers, 111 to 104 and 27 shares were unchanged.

Top gainers were Lepanto Consolidated Mining B, Mabuhay Holdings Corp., Abacore Capital Holdings Inc., Philippine Infradev Holdings Inc., Greenergy Holdings Inc. and SSI Group Inc. Top losers were PXP Energy Corp., TKC Metals Corp., Philippine Bank of Communications, PLDT Inc., Manila Broadcasting Co and Oriental Petroleum and Minerals Corp. B.

THIS WEEK

SHARE prices may go higher this week as optimism from investors start to pick up since the previous weeks.

“It tried its first attempt at 8,000 last week and next week, it may cement its position and potentially try to break above its next strong resistance at 8,150. A break above this resistance level will confirm a breakout of its congestion area between 7,500 and 8,000 which it has been in since the beginning of the year. This is the optimum scenario and would signal to investors that the market rally to the upside has began,” Mangun said.

This week is another four-day work week as Wednesday is a public holiday in celebration of the country’s Independence Day. Meanwhile, broker 2TradeAsia said there is reason to believe that improved opportunities are in store for the Philippines.

“The economy will gather enough momentum in terms of infra spending lineup, especially once authorities resolve awarding projects,” it said.

The broker said it sees immediate support for the main index at 7,900 points and resistance at 8,150 points.

STOCK PICKS

BROKER Regina Capital and Development Corp. advised to buy when its support price of between P48.60 holds for the stock of Ayala Land Inc. (ALI).

“The stock's strong rally during the beginning of [last] week was short-lived, seeing as price correction immediately took place the next day,” it said, adding its technical indicators are contradicting.

“Despite the fact that the selldown looks to be tapering, ALI's downward push may be sustained for the rest of the week,” it said.

Shares of Ayala Land closed last week at P49.80 apiece.

The broker gave the same recommendation on the stock of Jollibee Foods Corp. due to its persistence on continuing its monthlong descent, following an upturn that lasted three trading sessions.

“The breakdown that immediately followed within the week is being sustained, and may have JFC attempting to push its lower bound of P269.89. Should prices go down even more, the next support of P243.16 could be tested. Resistance, however, remains strong at P287.93.

Jollibee shares closed Friday at P275.29 apiece. VG Cabuag

propel the brand to become one of the most successful tech brands in the Philippines,” Wan added.

Globally, OPPO has a total of six research centers in key global locations: Silicon Valley, Yokohama, Shenzen, Shanghai, Beijing and

MUTUAL FUNDS

Dongguan to address ever-demanding needs of consumers for more meticulous and innovative technology.

OPPO also invested a total of $1.43 billion for research and development alone to explore new smartphone innovations.

June 7, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 265.21 0.72% 0.03% 0.9% 5.15% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6578 8.42% 9.35% 3.47% 15.06% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1405 -1.18% 0.3% 0.18% 6.09% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9451 3.15% N.A. N.A. 6.13% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8803 3.58% N.A. N.A. 7.26% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.509 1.91% 0.75% 0.94% 4.51% MBG EQUITY INVESTMENT FUND, INC. -A 121.56 7.79% N.A. N.A. 4.38% ONE WEALTHY NATION FUND, INC. -A 0.8826 0.1% -4.09% N.A. 6.03% PAMI EQUITY INDEX FUND, INC. -A 52.5261 3.25% 0.97% N.A. 6.75% PHILAM STRATEGIC GROWTH FUND, INC. -A 546.76 2.4% 0.02% 0.96% 6.22% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3334 4.53% 1.86% 3.42% 6.33% PHILEQUITY FUND, INC. -A 39.1419 4.59% 2.62% 2.99% 6.85% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0515 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3257 4.15% 1.93% 3.28% 7.4% PHILIPPINE STOCK INDEX FUND CORP. -A 889.24 4.22% 1.65% 3.24% 7.33% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9422 6.01% 1.28% N.A. 9.41% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3618 4.65% 1.91% 2.4% 7.46% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.022 3.71% 1.59% N.A. 7.09% UNITED FUND, INC. -A 3.7671 4.2% 3.63% 3.18% 7.6% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 119.0619 4.65% 2.61% 4.31% 7.51% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9589 -13.24% 4.82% -0.45% 3.21% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2525 -4.11% 7.19% N.A. 13.34% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7383 1.26% -1.06% -1.3% 5.27% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3277 0.48% 0.47% 0.71% 5.36% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.662 1.8% -0.22% -1.42% 4.65% GREPALIFE BALANCED FUND CORPORATION -A 1.359 0.57% N.A. N.A. 4.19% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9364 3.67% 0.82% 1.41% 5.06% PAMI HORIZON FUND, INC. -A 3.7285 1.89% -0.3% 0.54% 5.64% PHILAM FUND, INC. -A 16.808 2.94% -0.18% 0.6% 5.66% SOLIDARITAS FUND, INC. -A 2.1534 2.44% 0.95% 1.89% 3.91% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8859 4.42% 1.01% 1.5% 6.42% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.017 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0147 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0118 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0009 5.59% 1.34% N.A. 8.59% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03689 6.1% 1.16% 1.66% 4.65% PAMI ASIA BALANCED FUND, INC. -A $0.9527 -9.96% 2.75% -1.31% 1.76% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6561 -0.92% 5.37% 2.36% 10.51% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0898 1.2% 3.48% N.A. 7.9% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 349.42 3.23% 2.07% 2.14% 1.76% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8894 1.87% -0.31% -0.27% 1.62% COCOLIFE FIXED INCOME FUND, INC. -A 3.0419 5.48% 5.27% 5.28% 2.39% EKKLESIA MUTUAL FUND INC. -A 2.1761 2.93% 1.29% 1.73% 2.14% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2972 3.59% 0.87% 1.22% 3.98% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6054 1.79% -0.56% -0.07% 2.62% PHILAM BOND FUND, INC. -A 4.1193 3.4% 0.03% 0.79% 5.09% PHILEQUITY PESO BOND FUND, INC. -A 3.6472 4.36% 1.51% 1.16% 3.7% SOLDIVO BOND FUND, INC. -A 0.9346 2.69% -0.23% N.A. 4.71% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9345 6.96% 2.02% 1.85% 6.1% SUN LIFE PROSPERITY GS FUND, INC. -A

1.6305 6.83% 1.53% 1.4% 5.88% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $456.97 3.4% 1.82% 2.72% 1.94% ALFM EURO BOND FUND, INC. -A Є216.36 1.73% 1.41% 1.46% 1.74% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1753 5.73% 1.77% 2.17% 4.4% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0255 3.24% 1.07% N.A. 2.82% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7149 1.17% -1.4% 0.6% 1.46% PAMI GLOBAL BOND FUND, INC -A $1.0792 4.2% -0.24% -1.95% 4.01% PHILAM DOLLAR BOND FUND, INC. -A $2.3154 8.11% 1.06% 2.91% 6.64% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0588481 3.74% 1.46% 1.76% 3.28% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.044 5.5% 0.42% 2.3% 5.99% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.11 3.57% 2.32% 1.87% 1.88% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0131 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.208 3.46% 1.53% 0.96% 2.21% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2408 3.56% 2.59% 1.97% 1.79% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0266 2.1% N.A. N.A. 1.05%

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.

The World BusinessMirror

www.businessmirror.com.ph

After Mexico deal, US urges China to resume trade talks

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UKUOKA, Japan—One down, still others to go. President Donald Trump claimed a victory after Washington and Mexico agreed on measures to stem the flow of Central American migrants into the United States.

Trump called off plans to impose a 5-percent tax on Mexican exports, and Treasury Secretary Steven Mnuchin, speaking to reporters on Saturday in Fukuoka on the sidelines of a meeting of financial leaders of the Group of 20 major economies, urged China to follow suit and return to stalled negotiations.

Mnuchin said he planned to have a private conversation with the head of China’s central bank, Yi Gang. In a G-20 group meeting later in the day, the two were seen exchanging friendly remarks, but there were no fresh signs Beijing is ready to compromise in the dispute over trade and technology.

“From our perspective of where we are now, it is a result of them backtracking on significant commitments,” Mnuchin said. “I don’t think it’s a breakdown in trust or good or bad faith.... If they want to come back and complete the deal on the terms we were negotiating, that would be great.”

Mnuchin said he had no direct message to give to Yi, who has participated in the 11 rounds of talks so far on resolving the dispute between the world’s two largest economies over technology and trade. He said there were no plans for trade talks in Washington or Beijing before Presidents Donald J. Trump and Xi Jinping are due to meet in Osaka for the G-20 summit on June 28 and 29.

“This will be a one-on-one with Gov. Yi to talk alone about the trade issues,” Mnuchin said. But he added, “I would expect the main progress will be at the G-20 meetings of the presidents.”

The Trump administration began slapping tariffs on imports of Chinese goods nearly a year ago, accusing Beijing of using predatory means to lend Chinese companies an edge in advanced technologies such as artificial intelligence, robotics and electric vehicles. Those tactics, the US contends, include hacking into US companies’ computers to steal trade secrets, forcing foreign companies to hand over sensitive technology in exchange for access to the Chinese market and unfairly subsidizing Chinese tech firms.

The deal with Mexico helps alleviate uncertainty over the deal Washington recently reached on revising the North American Free Trade Agreement. The new US-Mexico-Canada deal has been heading toward a vote in Congress and might have been stymied by new tariffs. But the US is still negotiating new trade deals with Japan after withdrawing from a Pacific Rim arrangement, the Obama-era proposed Trans-Pacific Partnership.

America’s huge trade deficit with China—a record $379 billion last year—is one factor driving Trump’s frustrations with Beijing.

The United States now is imposing 25 percent taxes on $250 billion in Chinese goods. Beijing has counterpunched by targeting $110 billion worth of American products, focusing on farm goods such as soybeans in a deliberate effort to inflict pain on Trump supporters in the US heartland.

The US side has been preparing to expand retaliatory tariff hikes of 25 percent on another $300 billion of Chinese products, and Mnuchin indicated it was prepared to take that step if negotiations with Beijing fail.

But he said Trump had not yet made a decision on that, suggesting room for further delays depending on the outcome of his discussion with Xi later this month.

“As the president has said, if we can get the right agreement, that’s great. If we can’t, we will proceed with tariffs,” he said. AP

Editor: Angel R. Calso • Monday, June 10, 2019 B3

G-20 discusses trade disruptions, how to tax technology companies

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UKUOKA, Japan—How to reorder the global financial system in an era of trade standoffs and technological change held the attention of financial officials from the Group of 20 major economies on Saturday.

The central bank governors and other financial regulators meeting in this southern Japanese port city flagged risks from upsets to the global economy as Beijing and Washington clash over trade and technology.

US Treasury Secretary Steven Mnuchin said “no” when asked if other financial leaders attending the meetings in Fukuoka were raising concerns over the impact on global markets and trade from President Donald Trump’s crusade against huge, chronic US trade deficits, especially with China.

But Mnuchin acknowledged that growth has been slowing in Europe, China and other regions.

“I’m hearing concerns if we continue on this path there could be issues. There will be winners and losers,” he said.

Trump and members of his administration contend that the ripple effects of the billions of dollars in tariffs imposed by Washington on Chinese exports over the past year are creating new business opportunities for other businesses in the US and other countries.

The G-20 officials were expected

to express their support for adjusting monetary policy, for example by making borrowing cheaper through interest rate cuts, in a communiqué to be issued as meetings wrap up on Sunday.

Their official agenda on Saturday was focused on longer-term, more technical issues such as improving standards for corporate governance, policing cyber currencies and reforming tax systems to ensure they are fair for both traditional and new, online-based industries.

Ensuring that governments capture a fair share of profits from the massive growth of businesses like Google and Amazon has grown in importance over the many years the G-20 finance chiefs have been debating the reforms aimed at preventing tax evasion and modernizing policies to match a financial landscape transformed by technology.

One aim is to prevent a “race to the bottom” by countries trying to lure companies by offering unsustainably and unfairly low tax rates as an incentive.

Mnuchin said he disagreed with details of some of the proposals but

JAPAN’S Finance Minister Taro Aso (center) poses next to IMF Managing Director Christine Lagarde (center left) and Bank of Japan Governor Haruhiko Kuroda (center right) during a family photo of the G-20 finance ministers and central bank governors meeting on Saturday, June 8. The G-20 finance ministers and central bank governors meeting took place in Fukuoka on June 8 and 9. AP

not with the need for action.

“Everyone, we are now facing a turning point,” Japanese Finance Minister Taro Aso told the group.

“This could be the biggest reform of the long established international framework in over 100 years.”

Some European members of the G-20, especially, want to see minimum corporate tax rates for big multinationals. France and Britain have already enacted stop-gap tax systems for digital businesses, but they are not adequate, said French Finance Minister Bruno Le Maire.

“For the time being there is no fair taxation of this new economic model,” Le Maire said, adding that the hope is to have an agreement by

the year’s end.

The issue is not confined to the wealthiest nations. Indonesia, a developing country of 260 million with more than 100 million Internet users, is also struggling to keep up.

“The growth has been exponential but we cannot capture this growth in our GDP as well as in our tax revenue,” said Indonesian Finance Minister Mulyani Indrawati.

Mobile banking, big data, artificial intelligence and cloud computing are among many technologies that are expanding access to financial services for many people who in the past might not have even used banks.

US carrier in Persian Gulf sends clear signal to Tehran

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BOARD THE USS ABRAHAM LINCOLN— Under a starry sky, US Navy fighter jets catapulted off the aircraft carrier’s deck and flew north over the darkened waters of the northern Arabian Sea, a unmistaken signal to Iran that the foremost symbol of the American military’s global reach is back in its neighborhood, perhaps to stay.

The USS Abraham Lincoln, with its contingent of Navy destroyers and cruisers and a fighting force of about 70 aircraft, is the centerpiece of the Pentagon’s response to what it calls Iranian threats to attack US forces or commercial shipping in the Persian Gulf region. In recent years, there has been no regular US aircraft-carrier presence in the Middle East.

US officials have said that signs of heightened Iranian preparations to strike US and other targets in the waters off Iran as well as in Iraq and Yemen in late April emerged shortly after the Trump administration announced it was clamping down further on Iran’s economy by ending waivers to sanctions on buyers of Iranian crude oil.

The administration went a step beyond that on Friday, announcing penalties that target Iran’s largest petrochemical company.

On Saturday the Lincoln was steaming in international waters east of Oman and about 200 miles from Iran’s southern coastline. One month after its arrival in the region, the Lincoln has not entered the Persian Gulf, and it’s not apparent that it will. The USS Gonzalez, a destroyer that is part of the Lincoln strike group, is operating in the Gulf.

Rear Adm. John F. G. Wade, commander of the Lincoln strike group, said Iran’s naval forces have adhered to international standards of interaction with ships in his group.

“Since we’ve been operating in the region, we’ve had several interactions with Iranians,” he said. “To this point all have been safe and professional—meaning, the Iranians have done nothing to impede our maneuverability or acted in a way which required us to take defensive measures.”

The Lincoln’s contingent of 44 Navy F-18 Super Hornets are flying a carefully calibrated set of missions off the carrier night and day, mainly to establish a visible US “presence” that Marine Gen. Frank McKenzie, the head of Central Command, said on Saturday seems to have caused Iran to “tinker with” its preparation for potential attacks.

He said on Friday that he thinks Iran had been planning some sort of attack on shipping or US forces in Iraq. Two other officials, speaking on condition

of anonymity to discuss sensitive details, said Iran was at a high state of readiness in early May with its ships, submarines, surface-to-air missiles and drone aircraft.

“It is my assessment that if we had not reinforced, it is entirely likely that an attack would have taken place by now,” McKenzie said.

In an interview on the bridge, or command station, of the Lincoln with reporters who are traveling with him throughout the Gulf region, McKenzie said the carrier has made an important difference.

“We believe they are recalculating. They have to take this into account as they think about various actions that they might take. So we think this is having a very good stabilizing effect,” he said.

“They are looking hard at the carrier because they know we are looking hard at them,” McKenzie said.

He said earlier in the week that he had not ruled out requesting additional defensive forces to bolster the deterrence of Iran, whose economy is being squeezed hard by US sanctions after President Donald J. Trump pulled the US last year from the 2015 nuclear deal between Tehran and world powers. The US already has announced plans to send 900 additional troops to the Mideast and extend the stay of 600 more as tens of thousands of others also are on the ground across the region.

Iran’s influential Revolutionary Guard has said it doesn’t fear a possible war with the US and asserted that America’s military might has not grown in power in recent years. “The enemy is not more powerful than before,” the Guard spokesman, Gen. Ramazan Sharif, said in late May. The US has accused Iran of being behind a string of recent incidents, including what officials allege was sabotage of oil tankers off the coast of the United Arab Emirates.

McKenzie spent two days aboard the Lincoln to confer with naval commanders, observe both

But such innovations raise questions about protecting privacy and cyber security, Aso said.

“We need to stay vigilant against risks or challenges,” Aso said.

Japan, the world’s third-largest economy, is hosting the G-20 for the first time since it was founded in 1999. The venue for the annual financial meeting, Fukuoka, is a thriving regional hub and base for start-ups.

The G-20 group includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union. AP

daytime and nighttime flight operations, and to thank crew members. Their deployment plans were disrupted when the White House approved McKenzie’s request in early May that the Lincoln cut short its time in the Mediterranean Sea and sail swiftly to the Arabian Sea. “I am the reason you are here,” the general said in an all-hands announcement to the nearly 6,000 personnel on the Lincoln on Friday night shortly after he flew aboard by Navy helicopter from Oman.

“I requested this ship because of ongoing tensions with Iran,” he said. “And nothing says you’re interested in somebody like 90,000 tons of aircraft carrier and everything that comes with it. Our intent by bringing you here was to stabilize the situation and let Iran know that now is not the time to do something goofy.”

McKenzie also requested, and received, four Air Force long-range B-52 bombers. They were in the region 51 hours after being summoned and were flying missions three days later. They are now operating from al-Udeid air base in Qatar. There had been no US bomber presence in the Gulf region since late February.

In an interview on Friday after speaking with B-52 pilots at al-Udeid, McKenzie said it’s hard to know whether that gap in a bomber presence had emboldened the Iranians.

“Cumulatively, the fact that we had drawn down in [the Mideast] may have had an effect on Iranian behavior,” he said. “We do know that bringing stuff back in seems to have had an effect on their behavior,” noting that there have been no Iranian attacks on US forces.

On Saturday aboard the Lincoln, McKenzie was asked whether there have been any incidents between Iranian and American naval force in recent weeks.

“No, actually I think things are pretty quiet right now,” he said. AP

Iran official condemns new US sanctions

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EHRAN, Iran—Iran has condemned new US sanctions targeting its petrochemical industry, saying they prove President Donald J. Trump is not serious about pursuing negotiations.

Foreign Ministry Spokesman Abbas Mousavi was quoted by state TV on Saturday as saying the move amounts to “economic terrorism” and is in line with other hostile American policies.

On Friday, the Trump administration imposed sanctions on Iran’s largest petrochemical company for allegedly doing business with the paramilitary Revolutionary Guard, which the White House branded a terrorist organization in April.

Trump has ramped up sanctions on Iran since withdrawing the United States from Iran’s 2015 nuclear accord with world powers last year, while saying as recently as this week that he is open to talks with Tehran. AP

B4 Monday, June 10, 2019

Sports

CALL IN DURANT?

BusinessMirror

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AKLAND, California—When Game Four was over, while Toronto fans were waving Canadian flags in celebration inside an otherwise-stunned Oracle Arena, a glum-faced Kevin Durant was outside the Golden State locker room to greet equally glum teammates as they sauntered off the floor.

That’s been his only visible role on game nights in the National Basketball Association (NBA) Finals.

If that doesn’t change on Monday, this series is probably going to end.

With it, in that case, so would Golden State’s reign as NBA champions. And then it’s possible that Durant, a free-agent-inwaiting, has played for the Warriors for the last time.

Durant limped off the floor at Oracle Arena a month ago— Game Five of the second round—with what the team called a mild calf strain. It’s apparently the most severe “mild” calf strain in the history of injuries, because he hasn’t played since and there’s no way of knowing if that’s going to change on Monday.

And the Warriors clearly need him if they’re going to pull off a comeback against the Raptors in these NBA Finals.

“Nobody’s going to feel sorry for us at all,” Warriors guard Stephen Curry said. “It’s just a matter of can we get it done or not, and we’re going to leave it all out there starting on Monday.”

That’ll be the case, with Durant or not.

Here’s reality: Any Durant is better than no Durant for the Warriors right now. His mere presence might throw the Raptors off just enough to create more chances for the rest of the Warriors. It’s really the only card the Warriors have left to play at this point.

Toronto took full control of the series on Friday night, winning 105-92 for a 3-1 finals lead. Durant wasn’t on the bench for Game Four, and hasn’t been since getting hurt. He’ll be on the plane on Saturday headed to Ontario, and his uniform will be packed inside the Warriors’ equipment bags.

If it goes unworn again, the Warriors are in big trouble.

“There’s been hope that he will come back the whole series,” Warriors forward Draymond Green said. “So that’s not going to change now. Obviously we hope to have him, but we’ll see what happens. We don’t make that final call...he don’t really even make that final call. His body will tell him if he can get out there or not. And if he can, great. And if not, you still got to try to find a way.”

They’ve been trying, with limited success.

Even with Durant.

The Raptors are 5-1 against the Warriors this season, even going 2-0 in the regular season when Durant scored 51 in one game and 30 in another. The Warriors just looked tired on Friday night, weary against a Toronto team that has had every answer in this series. They haven’t been able to muster the offense they need against Toronto.

With Durant, that story could be different.

But even if he plays on Monday, after not playing for a month, how good could he be anyway? Even someone as talented as Durant, who is in the conversation of “best player in the world” right now, can’t fake rhythm. Throwing him into an elimination game in the NBA Finals, after not playing for a month, is an unbelievably daunting ask.

It might be what’s required.

“We’re hoping he can play Game Five or Six,” Warriors Coach Steve Kerr said. “And everything in between I’ve decided I’m not sharing because it’s just gone haywire.

There’s so much going on, and so it doesn’t make sense to continue to talk about it. He’s either going to play or he’s not.”

The Warriors will practice on Sunday. With so much at stake, unless his calf muscle just won’t allow it, Durant will probably try to do something that day. It’s hard to believe that he doesn’t want to play, and the fact that he hasn’t been seen yet in this series just reiterates how not mild this “mild” strain was.

A shot at a third straight ring is slipping away.

Maybe it was gone the second Durant got hurt.

When the Warriors swept Portland in the Western Conference finals, there was silly talk about how the team might be better without Durant.

That talk is nonexistent now.

Any team is better—a lot better—with Durant. And if he finds a way back to the court, the Warriors might just get a lot better in a hurry.

Or else, this era could end on Monday night.

“We’ve got to win one game,” Green said. “We win one, then we’ll build on that.”

Without Durant, winning that one game on Monday might be too tough an ask, even for the Warriors. AP

C1

| Monday, June 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

KAWHI LEONARD is on the cusp of a second championship and possibly ending a second era. AP

‘KING NORTH’ of the

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By Tim Reynolds The Associated Press

AKLAND, California—There was a moment, not long before the postseason started, when Toronto Coach Nick Nurse learned all that he really needed to know about Kawhi Leonard and what makes the man of few words tick.

The conversation was about the 82-game regular season.

Leonard shrugged and described those games as “just practice.”

“That’s when I knew,” Nurse said, “that this guy has another gear that he was going to get to.”

Everyone knows that now—or at least, everyone should be reminded of that now. Leonard was the National Basketball Association Finals Most Valuable Player in 2014 and looks very much like the soon-to-be NBA Finals MVP in 2019. He is at the top of his game and has shown that not only is he over the leg ailment that cost him basically all of last season but that he might just be better than ever.

They call Leonard “the King of the North” in Toronto now, and on Monday night that title might expand to cover the entire NBA, as well. Leonard is on the cusp of a second championship and possibly ending a second era. The Raptors lead the Golden State Warriors 3-1 in

THE Warriors’ (from left) Andre Iguodala, Jonas Jerebko, Klay Thompson, Quinn Cook and Jordan Bell sit on the bench as Stephen Curry is a picture of disappointment in Game Four.

And boy, they do need Kevin Durant after going down 3-1 in the series. AP

the NBA Finals and Toronto plays host to a potentially championship-clinching Game Five on Monday night.

“It’s not over yet,” Leonard said.

The way he’s playing, it’s hard to imagine this slipping away.

Leonard is averaging 30.8 points and 10.3 rebounds in the finals. For the entirety of the playoffs, the

averages are 31.1 points and 9.1 rebounds. The elite club for shooters in the NBA is the one dubbed “50-40-90”— 50 percent from the field, 40 percent from three-point range, 90 percent from the foul line. Leonard is at 49.8 percent shooting, 39 percent on threes and 89 percent from the line in the postseason, with every team’s plan geared to stop him.

“I don’t think you’re ever going to rattle Kawhi,” conceded Golden State’s Draymond Green.

There’s no shame in that. The Warriors have some defenders of exceptional pedigree. Green is a former defensive player of the year. Klay Thompson was an all-defensive team player this year. Andre Iguodala and Andrew Bogut have earned their way onto that team in previous seasons.

Separately, together, it doesn’t matter.

The Warriors haven’t had an answer for Leonard.

“He’s just been phenomenal,” Nurse said. “The energy that he brought on the defensive end translated to his offensive game. To me, talking about ‘where does he rank’ and blah blah blah, he’s like the best team player.

He might not be the best player in the NBA—he’s in the conversation of some sort of top 5 or top 3 or whatever you want to have—but he’s the best team player.”

They’re even noticing that outside of basketball.

Golf is about as individual a sport as there is. But the sixth-ranked golfer in the world Justin Thomas marveled after seeing Leonard in person during these playoffs.

“I’m a huge Kawhi fan,” Thomas said. “I think he’s awesome to watch. I love his demeanor, his work ethic, how he goes about his own business and he’s never blaming anybody. He never complains.

He kind of just goes out, does his work and is always thanks his teammates. He’s never putting anything on himself. It’s pretty cool.”

Leonard’s moment of entering the realm of NBA superstardom probably came in the 2014 finals when San Antonio faced Miami for the second consecutive year.

Leonard scored nine points in a Game One win, nine points again in a Game Two loss. He was struggling, almost deferring too much to Spurs leaders like Tim Duncan, Tony Parker and Manu Ginobili. That’s when San Antonio Coach Gregg Popovich gave Leonard now-infamous advice: “The hell with Tony, the hell with Timmy, the hell with Manu, you play the game. You are the man.”

The words resonated.

Leonard’s point totals in finals games since that night: 29, 20, 22, 23, 34, 30, 36.

The Spurs won the 2014 title to end LeBron James’s time in Miami and the Heat “Big Three” era. The Raptors are a win away from ending Golden State’s two-year run as NBA champs and potentially ushering in major roster changes for the Warriors this summer as well, with Kevin Durant among the team’s free agents.

“We’ve got a lot of talent and we’ve got a lot of pride and these guys have been to the finals five straight years for a reason,”Warriors Coach Steve Kerr said. “They’re unbelievably competitive. And they’re together, and they’re going to fight. They’re going to fight the whole way. So we’ll go try to get one win and, if we can do that, come back [home] and see what happens.”

Leonard has scored 684 points in this postseason, which is already the eighth-most by any player in any playoff run. If he scores 14 more on Monday, he passes No. 7 Kobe Bryant (2009) and No. 6 James (2012) on that list. If he scores 24, he then passes No. 5 Shaquille O’Neal (2000), as well.

Michael Jordan scored 759 in 1992. James scored 748 last year. Hakeem Olajuwon scored 725 in 1995.

Allen Iverson scored 723 in 2001. Leonard is now in their club, their level of elite. And if a second finals MVP trophy comes, Leonard would join only James and Kareem Abdul-Jabbar as players to claim one of those with multiple franchises.

“It doesn’t matter,” Leonard said, “until you get that fourth win.”

That’s the one he’ll aim to get on Monday.

Spo

Business

C2 Monday, June 10, 2019

PERFECT FINISH AT BELMONT N

EW YORK—Sir Winston provided a perfect finish to a crazy Triple Crown.

After a disqualification in the Kentucky Derby and a runaway horse in the Preakness, of course the Belmont Stakes goes to a 10-1 long shot.

Sir Winston captured the $1.5-million race on Saturday, holding off favored Tacitus by a length.

The win gave trainer Mark Casse the final two jewels in the showcase for 3-year-old thoroughbreds. He won the Preakness with War of Will, who was expected to battle Tacitus in the one-and-a-half-mile Belmont.

Instead, Casse’s other colt took the lead after a ground-saving ride by Joel Rosario.

It wasn’t really a shock to Casse.

“I said all week he was doing really well,” Casse said. “He had a race over the track. What can I say? It’s just exciting.”

Sir Winston, who was making his Triple Crown debut, finished second in the Peter Pan Stakes, the traditional prep for the Belmont.

Rosario rode him for the first time in that race, and the two put on a show on Saturday in front of a crowd of 56,217, earning $800,000 for owner Tracy Farmer.

Long shot Joevia finished third and Tax was fourth.

The Triple Crown grind caught up to Preakness winner War of Will, who ran in all three races. He finished ninth in the 10-horse field.

“I could see where War of Will was struggling a little bit,” Casse said. “He looked like maybe he was a little flat today.”

The Belmont capped an entertaining Triple Crown highlighted by the disqualification of Maximum Security in the Kentucky Derby. It sparked interest in thoroughbred racing despite no possibility of the third Triple Crown winner in five years, coming on the heels of Justify last year and American Pharoah in 2015.

It was all positive. There were no tragedies

SIR WINSTON captures the $1.5-million race on Saturday, holding off favored Tacitus by a length. AP

VETTEL

Vettel bags pole at Canadian GP

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on the track. No horses died.

The Belmont was a jockey’s race and Rosario was the right rider on a horse full of run.

Breaking from the No. 7 post, Rosario guided the chestnut colt to the rail for an energy-saving

trip. Sir Winston was eighth for the first half-mile and then started to rally on the final turn.

Up front, 21-1 long shot Joevia continued to set the pace with Tax closely tracking. In the stretch, Rosario angled Sir Winston—named for

Winston Churchill—off the rail and slightly bothered stablemate War of Will.

This time, there was no inquiry or objection. Sir Winston surged to the lead with an eighth of a mile to go and held off a late run from Tacitus, who had an extremely wide trip under jockey Jose Ortiz.

The second-place finish denied trainer Bill Mott two-thirds of the Triple Crown. His Country House was awarded first place in the Kentucky Derby.

Sir Winston paid $22.40, $8.80 and $6.10.

Tacitus returned $3.90 and $3.20 as the 9-5 favorite. Joevia hung on for third, paying $8.70.

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NIVERSITY of the Philippines (UP) crushed the University of Santo Tomas (UST), while Far Eastern University (FEU) eliminated the College of Saint Benilde on Saturday in the Filoil Flying V Preseason Cup at the Filoil Flying V Centre.

Showing poise, frightening firepower and verve, UP crushed UST, 89-72, to climb to 5-2 won-lost, while FEU knocked out Saint Benilde, 70-57.

Three Fighting Maroons scored in double figures. Bright Akhuetie led the way with 17

After Tax, Master Fencer was fifth followed

by Spinoff, Everfast, Intrepid Heart, War of Will and Bourbon War. The winning time was 2:28.30 on the fast track under sunny skies.

The win was the third in 10 starts for the slow-developing Sir Winston. Casse always believed in the horse despite early struggles.

“We’re very proud of him,” the 58-year-old trainer said. “He’s kind of what our operation represents. We develop horses. The first two times he ran, he got beat 10 or 20 lengths. I can remember having a conversation with Mr. Farmer up at Saratoga, and I said, ‘Don’t give up on him.’” AP

ONTREAL—Ferrari driver Sebastian Vettel produced a stunning final lap to clinch pole position for the Canadian Grand Prix (GP) on Saturday.

Formula One (F1) champion Lewis Hamilton looked set for a record-extending 86th pole—and a record seventh in Montreal—but Vettel found extra speed in the final sector of qualifying.

After crossing the line, a euphoric Vettel broke out into impromptu singing on his team radio. Moments later Hamilton came over to congratulate him, and the German driver was clearly relieved to finally show some of his best ability.

“I’m full of adrenaline,” Vettel said. “The last few weeks have been tough for us. The car felt good. I hope we can carry that into the race.”

It was the 56th pole of Vettel’s career and first since the German GP last July—where he crashed in the rain comfortably leading the race and effectively handed victory and the momentum of the title race to Hamilton.

In warm and sunny conditions, the four-time F1 champion was 0.2 seconds quicker than Hamilton and about 0.7 faster than teammate Charles Leclerc.

It was only Ferrari’s second pole in seven races this season, the other going to Leclerc in Bahrain.

“Congratulations to Seb, he deserves it and hopefully I’ll have a better race from my side tomorrow,” Leclerc said.

Renault’s Daniel Ricciardo was fourth with Red Bull’s Pierre Gasly in fifth and Mercedes driver Valtteri Bottas in sixth after a poor performance in the last part of qualifying. The Finnish driver spun and was somewhat fortunate to avoid clipping the barriers.

Ferrari is looking for its first victory of the season after six races and Vettel is well placed, having won from pole here last year. AP

Maroons, Tams win in Filoil tilt

points and 16 rebounds, Paras added 15 points before fouling out with five minutes left in the game and Juan Gomez de Liaño added 10.

Rhenz Abando scored a game high 24 points for UST but was shackled in the final canto.

Soulemane Chabi Yo added 23 points for the Tigers, who dropped to 1-4.

Leading 50-47 at the end of the third period, FEU put the clamps on Saint Benilde while drawing solid performances from Alec Stockton,

Wendell Comboy, Hubert Cani and Barkley Eboña as they won their fourth straight match in the tournament.

Hubert Cani led FEU with 12 points and four assists, while Wendell Comboy added 11 points and eight rebounds.

Justin Gutang had 22 points and James Pasturan and Edward Dixon added 11 and 10 points, respectively, for the Blazers, who fell to 1-4. Rick Olivares

PPS-PEPP Olivarez netfest on

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LOSE to 250 entries, headed by the top junior players in the National Capital Region and nearby cities, kick off their chase for top honors in various divisions as the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Dr. Pablo Olivarez national age-group 2019, which got under way over the weekend at the Olivarez Sports Center in Sucat, Parañaque.

Denise Bernardo, Julia Ignacio, Justine Maneja and Alaine Obra brace for a spirited duel in the girls’ 18-under class, while Loucas Fernandez, Marcus del Rosario, Daniel Estanislao III and Jester Ocio banner the boys’ premier side of the Group I tournament which drew 32-player rosters in six age categories.

Maneja and Ignacio are also seeing action in the 16-U play that also features Gaby Zoleta and Melody Dizon while Ocio, JT Bernardo, Rafael Liangco and Lance Fernandez get the top billing in the boys’ 16-under bracket.

The organizing PPS-PEPP set the event, sponsored by Dr. Pablo Olivarez, on two weekends of and on June 12, a holiday, so as not to disrupt the student-athletes’ classes.

“We always put on consideration the student-athletes’ commitment to education, and we’re inspired by the huge turnout which only underscores these young players’ continued support to the circuit,” Palawan Pawnshop President and CEO Bobby Castro said.

MEMBERS of Octagon Tires and Accessories Basketball pose with Tournament Director Willy Chan after their stunning win over the La Salle Greenies.

GREENIES BEAT BULLPUPS

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A Salle Greenhills held multi-titled National University (NU) to just 10 points in the second quarter to book a 99-72 win in the 15-under division final of the Sixth Headstart Developmental League presented by AXA Team EDS recently at the SGS Gym on Araneta Avenue, Quezon City.

Javier Luis Jugo presided over the Greenies’ explosive show in the second that also saw them erupt for 31 points for a huge 53-28 halftime lead, which they gallantly protected to avenge the narrow defeat last time.

Jugo led all scorers in the event also supported

by Freego Jeans with 23 points spiked by four triples while CJ Mesias added 18, and Ethan Alian and

Norway opens World Cup with 3-0 win over Nigeria

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Sevenn Gagate combined for 30 points.

It was a day of reversals as Octagon Tires stunned La Salle, 62-60, in the 12-U division— thanks to a huge four-quarter performance Octagon fell behind by 16 points in the first half but rallied furiously in the next two quarters where they outscored the Greenies, 23-13, in the pivotal fourth period.

TJ de los Santos and Daryl Valdeavila scored 16 points each to lead Octagon, which also drew significant numbers from Chadrik Timbol and Renzo Sandigan.

The champions and members of the Mythical First Five in both divisions received trophies and medals from Tournament Director Willy Chan.

EIMS, France—Guro Reiten and Lisa Marie Utland scored to help Norway open the Women’s World Cup with a 3-0 victory over Nigeria on Saturday night.

The 1995 winners played without Ada Hegerberg, the 2018 Fifa Ballon d’Or winner who stepped down from the national team because of what she says are differences in

orts

sMirror

Monday, June 10, 2019

ROXAS FOUNDATION TOPS COPA ALMA FILIPINAS TILT T

HE Roxas Foundation FRM Escuela Socio Deportiva in Nasugbu Team Marcelo emerged overall winner in the recent second edition of the Fundación Real Madrid Copa Alma Filipinas.

Team Marcelo edged ANAKK ESD of Davao del Sur’s Team Isco in the annual 7-a-side modified football tournament that gathered teams from the Social Sports Schools of Fundación Real Madrid in the Philippines.

The second edition was staged in San Carlos City in Negros Occidental where Fundación Real Madrid awarded the Motivation distinction to FRM Escuela Socio Deportiva in Nasugbu Team Marcelo.

The other winners were San Carlos-Courtois (Equality), San Carlos-Bale (Team Spirit), La Carlota-Varanne (Self-Esteem), La CarlotaCasemiro (Respect) and Davao del Sur-Isco (Fairplay).

The event did not only recognize the

football skills of the teams—all coming from marginalized communities—but more important the values the participants represented.

San Carlos City Councilor Carlos Valmayor, Jose Miguel Valmayor representing his father Rep.-Elect Gerardo Valmayor Jr., Fundación Real Madrid Operations Director for Asia and Oceania Alejandra de Benito and Fundación Santiago Executive Director Chaco Molina graced the closing ceremony.

The young footballers showcased their entertainment prowess as well in a Got Talent gala that saw the San Carlos squad steal the show with a well-rehearsed song and dance number. FRM Escuela Socio Deportiva in Nasugbu Team Marcelo finished second, while ANAKK Davao del Sur wound up third.

RoxaCo, RHI, Central Azucarera de la Carlota, ItalPinas Development Corp., Chooks To Go,

Chase for SEAG golf berths resumes

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HIRTEEN survivors of the 30th Southeast Asian Games men’s team Stage 1 qualifier make their final charge for the coveted berths as Stage 2 of the grueling elimination starts on Monday at the Luisita Golf and Country Club in Tarlac.

Reigning national junior champion and recent National pro-am winner Aidric Chan lived up to the hype—at least in the first phase—as he topped the 72-hole tournament last week to tow 12 others into the last final stretch of their spirited battle for the three berths in this year’s SEA Games national squad.

Though the Ateneo ace had built a three-stroke cushion with a 286 aggregate, he remained wary of his chances with the expected charge of the other bidders on the tough, hazard-laden course made more challenging by its unpredictable greens.

“They’re all great competitors and it made me even more motivated to play my best and work harder,” said Chan, referring to the likes of Carl Corpus, Luis Castro and Sean Ramos, who all pooled 289s after four rounds of play in the eliminations organized and conducted by the National Golf Association of the Philippines.

Gab Manotoc fought back with a final round

San Carlos Biopower and Pioneer Insurance supported this year’s edition.

The BusinessMirror was the Copa Alma 2019 Media Partner.

Fundación Real Madrid is the corporate social responsibility arm of football powerhouse Real Madrid CF. Fundación Real Madrid entrusted the organization of the Copa Alma Filipinas to its local counterpart Fundación Santiago. The Copa Alma is a 7-a-side modified football tournament featuring teams of the Social Sports Schools of Fundación Real Madrid. All teams come from depressed communities in Luzon, Visayas and Mindanao.

Fundación Real Madrid-mentored teams from Nasugbu (Batangas), La Carlota and San Carlos (Negros Occidental) and Digos, Santa Cruz, Padada and Hagonoy, all in Davao del Sur, took part in the event.

Young, Bagtas top Forest Hills golfest

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ETER YOUNG and veteran Eddie Bagtas assembled 148 (79-69) in aggregate at the Nicklaus course and combined for 71 in four ball at the Palmer layout to capture the overall low gross crown with a 219 total in the 18th MazdaForest Hills Invitational held recently at the Forest Hills Golf Club in Antipolo City.

Allan Passion and basketball Coach Virgil Villavicencio won the overall net champions, shooting 86 (44-42) and 44 for 130 points in the four-day tournament, staked two sedan cars from GAC Motors and Diamond Motors

UST hosts golf tourney

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HE University of Santo Tomas (UST) Office of Alumni relations holds the Fourth Rector’s Cup Thomasian Alumni Golf Tournament on Monday at The Orchard Golf and Country Club in Dasmariñas City in Cavite.

In partnership with the UST Alumni Association, the tournament aims to bring together golf enthusiasts from the Thomasian community for the benefit of UST athletes.

Participants will have a chance to snag various prizes, including gadgets, medical treatment package, gold accessories, state the art appliances, local and international travel packages and many more.

Hole-in-one sponsors are Foton and Shinagawa Lasik and Aesthetics.

Other sponsors include Divina Law, Boysen, Gemini Printing, Resorts World, Belmont Manila, Wynford Manila, All Points Travel, AIMM Builder and Construction, Ayala Land, Skynet Travel, Jersey King, JD Wood Craft and Radius Telecoms.

(Mitsubishi) and an Adventure 150 motorcycle from Autohub.

Mark Gruba and partner Mike Lim made 76 and 44 for 120 to top Class A while Romeo Chong and Edgardo Brocal had 88 and 42 for 130 to hoist the Class B title. Elmer Ngo and Nestor Quinsay, a Department of the Interior and Local Government undersecretary, turned in 124 (81 and 43) in Class C. Evelyn Alcantara and Vangie Omlang took home the Class D plum with 129 (85 and 44).

Junior golfer Leandro Bagtas and Johnny Chua

were awarded with the sponsors and members individual titles, respectively.

Golforce, Megaforce Security, City Advertising, Escala Tagaytay, Luisita Golf Club and Elm’s Kapihan presented the event with Primer Group, BusinessMirror and KLIO International.

Cherrylume/Mileage Asia Corp., Fatima University Med Center, CDO Foodsphere, YSA Skin Care and Mizuno were silver sponsors. Emirates, Cebu Pacific, Taishan Insurance, Turf Company, Silicon Computers, J-Ten Sports were backers.

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So do Albin Engino, Jhonnel Ababa and Rufino Bayron, who are also raring to atone for their final round meltdowns in Cebu along with Richard Abaring, Joenard Rates, Mars Pucay, Elmer Saban and Richard Sinfuego.

Meanwhile, legend Frankie Miñoza makes his return to the circuit organized by Pilipinas Golf Tournaments Inc. as one of the invitees, along with Mateo Gomez and Sebastian Lopez of Colombia, Englishman George Twyman and Aussie Jack Sullivan and Gleeson.

Others tipped to contend for the crown in the P2.5million event backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology Inc. are Ira Alido, Art Arbole, Ferdie Aunzo, Jerson Balasabas, Jun Bernis, Marvin Dumandan, Anthony Fernando, Mhark Fernando, Zanieboy Gialon, Keanu Jahns and PGT Asia leg winner James Ryan Lam. A slew of foreign aces are also out to spoil the locals in a duel of iron game in pursuit of a breakthrough win on the PGT, including Americans Lexus Keoninh and Charles Lee, Japanese Kei Matsuoka and Taisei Mochita, Koreans Kim Young Hyun and Park Jun Sung, Spain’s Marcos Pastor, Thai Pachaera Sakulyong, Emilio Parodi of Argentina and Rafael Parra of Venezuela.

Negros Occidental Golf and Country Club, meanwhile, will host the next stop from June 19 to 23 before the circuit winds up its Visayan tour at the Iloilo Golf and Country Club from June 26 to 29.

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

GUIDO VAN DER VALK (center) receives his trophy from Club Filipino de Cebu (CFdC) President Edgar Aliño (left) as Philippine Golf Tour Executive Director Narlene Soriano looks on after the Dutchman scored a wire-to-wire triumph in the International Container Terminal Services Inc. CFdC Invitational in Danao City last Saturday.

Children’s Games lure 430 kids in Davao

A KIDS from the coastal towns of Padada, Hagonoy and Sulop in Davao del Sur play the “Tug of Peace.”

the way the federation treats the men’s and women’s teams.

Reiten’s deflected shot in the 17th minute gave Norway the lead, and Utland scored in the 34th minute. An own goal made it 3-0 and wrapped up scoring before the break.

Nigeria was hurt when defender Faith Michael was stretchered off after a collision

TOTAL of 430 kids celebrated their childhood in a day of fun and games in Padada in Davao del Sur and in Catalunan Grande in Davao City recently.

The rain did not dampen the excitement of the 130 kids who were led by their 13 Ate and Kuya Volunteers in the Sports for Peace Children’s Games in Padada.

Barangay Captain Vimar Embudo thanked the Philippine Sports Commission (PSC) for giving the children aged eight to 11 years old a day to have fun and at the same time be conscious of taking good care of their environment as a mangrove planting and with her goalkeeper early in the second half.

The teams are in Group A at the World Cup. Hosts France posted a 4-0 victory over South Korea in the tournament opener on Friday night in Paris.

Marta, meanwhile, has been ruled out for Brazil’s opening match at the Women’s World Cup because of a left-thigh injury.

69 to get back into the thick of things at 290 but the rest will have to dish out low rounds in the next four days to get a shot at one of the three slots in the event sponsored by the MVP Sports Foundation, the PLDT Group, Cignal and Metro Pacific and hosted by Luisita.

Edward Dy and Kristoffer Arevalo scored identical 296s, 10 shots off the pace, while Alexander Bisera, Paolo Wong and Ivan Monsalve all had 297s followed by Lanz Uy (299), Ryan Monsalve and Rolando Bregente, who assembled identical 303s.

Chan had stressed the importance of taming Luisita’s surface, saying: “Luisita’s greens must be read on a much more detailed aspect because they difficult compared to other courses.”

The top 3 players after Stage 2 will banner the Philippine team in the SEA Games slated from November 30 to December 10 with the golf competitions also slated at the Robert Trent Jones Jr.-designed layout, making the two-week qualifier a boost in terms of training and preparations for those who would make the team.

The women’s squad is expected to be composed of the very team that won the Asian Games gold medal last year, led by Yuka Saso, Bianca Pagdanganan and Lois Kaye Go.

AIDRIC CHAN is living up to expectations in the games qualifiers.

VAN DER VALK TARGETS 2ND CROWN IN BACOLOD

UIDO VAN DER VALK hopes to cash in on his fine form as he tries to make it two-in-row in the Visayan swing of the Philippine Golf Tour, spearheading a tough international cast in the ICTSI Bacolod Golf Challenge unfolding on Wednesday at the Bacolod Golf and Country Club in Murcia, Negros Occidental.

The Dutchman banked on a superb 36-hole start at Club Filipino de Cebu (CFdC) in Danao City last week then held sway to complete a wire-to-wire triumph in the International Container Terminal Services Inc. (ICTSI) CFdC Invitational to end a 14-month quest for a second victory.

“This victory indeed bolstered my morale and confidence. Hopefully, I can do it again in Bacolod,” said the 39-year-old Manila-based shotmaker who will be facing practically the same field he bested in Danao this week.

That includes Aussie David Gleeson, whose final 36-hole rally fell short, finishing tied for second with Michael Bibat, while the likes of veterans Elmer Salvador and Jay Bayron are likewise out to improve on their fourth and fifth-place finishes, respectively, at the short but challenging par-70 layout.

Justin Quiban, who strung up three solid rounds before cruising to a five-stroke romp over Bayron here last year, likewise looms as the player to watch in the 72-hole championship serving as the second of the four-stage Visayan swing of the circuit put up by ICTSI.

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coastal cleanup was incorporated in the event.

“It’s the right of the children to play,” Embudo said.

PSC Mindanao cluster head Ed Fernandez said that allowing the children play with each other develop confidence more than those who do not.

“They make friends and learn values of respect and understanding early in life,” Fernandez said.

Water transfer, sack race and kadangkadang were among the games played by Christian and Muslim children in the event held in partnership with Batch 1980 of Saint The six-time women’s world player of the year was hurt in training on May 24. She had a week of physical therapy before returning to practice.

But on the eve of Sunday’s match against Jamaica in Grenoble, Coach Vadao announced Marta would not play. Her availability going forward in the tournament was uncertain.

Michael School of Padada.

Some 300 kids, meanwhile, joined the Children’s Games basketball clinic at the Dennis A. Uy SFX Remase Gym in Catalunan Grande.

Fr. Joel Caasi, parish priest of San Lorenzo Ruiz Parish of Talomo requested for a basketball clinic before the June 3 opening of classes.

“Fr. Caasi expected only 200 participants but about 300 came. The children were happy to learn basics of basketball,” PSC coordinator Cholo Elegino said. “They also received free shirts, free snacks and lunch.”

Marta is on Brazil’s roster for her fifth World Cup. She also has played in four Olympics, but so far, a championship has eluded her in both tournaments.

The 33-year-old has the most World Cup goals with 15, one better than former US star Abby Wambach and Germany’s Birgit Prinz. AP

Déjà vu all over again in NBA Finals?

THE ongoing National Basketball Association (NBA) Finals between the Toronto Raptors and the Golden State Warriors—as early as Game Three—eerily reminds me of the title series of 2004 between the Detroit Pistons and the Los Angeles Lakers.

I know. I know the series isn’t over between G-State and Toronto as it stands at 3-1 in favor of the latter, but even so...the similarities are uncanny.

In 2003-2004, the Lakers returned to the finals after momentarily surrendering the title to San Antonio in 2003. They made some off season changes then bringing in Karl Malone and Gary Payton as bargain prices to backstop Shaquille O’Neal and Kobe Bryant.

This 2018-2019 season, the Warriors returned to the championship round for the fifth straight year. This campaign, they brought in All-Star center DeMarcus Cousins who now gave Golden State five All-Stars in addition to having Stephen Curry, Klay Thompson, Kevin Durant and Draymond Green.

In 2003-2004, Joe Dumars brought to Detroit the mercurial Washington center Rasheed Wallace.

In 2018-2019, the Raptors brought in Memphis center Mark Gasol.

In 2003-2004, the Lakers were feuding. It was Kobe versus Shaq. Kobe versus everyone else. In fact, Head Coach Phil Jackson wrote a book about that turbulent season, titled The Last Season: A Team in Search of its Soul.

As for the 2018-2019 Warriors, anyone remember the dust-up between Green and Durant early in the season? And there is speculation about how this team’s All-Stars will go their separate ways due to free agency or whatnot.

In 2003-2004, Detroit defeated an exciting Milwaukee Bucks team in the play-offs (the first round) that had Michael Redd.

In 2018-2019, Toronto defeat an even more exciting Milwaukee Bucks team in the Eastern Finals that has Giannis Antetokounmpo.

In 2003-2004, the Detroit Pistons fired Head Coach Rick Carlisle who guided them to back-toback Central Division titles. They brought in Larry Brown.

In 2018-2019, the Raptors fired Dwane Casey who was the 2018 NBA Coach of the Year in favor of assistant, Nick Nurse.

In 2003-2004, the losing coach was Phil Jackson.

In 2019, Steve Kerr, who is a disciple of Jackson (and also Gregg Popovich), is on the ropes.

Like Jackson, Kerr won in his first time to make the NBA Finals.

In 2004, the Pistons closed out the Lakers in five. Will the Raptors accomplish the same against the Warriors?

It may all be coincidence, but even so, you have to admit it is fascinating. Everyone and their mother are interested to see how this pans out.

BARTY PARTY IN PARIS! P

By Howard Fendrich The Associated Press

ARIS—Ash Barty knew she needed a break from tennis, from the pressure and expectations, from the week-in, week-out grind. So she stepped away in 2014 and wound up trying her hand at cricket, joining a professional team at home in

Australia.

After almost two years away, Barty was pulled back to the tour. Good choice. Now she’s a Grand Slam champion.

Taking control right from the start of the French Open final and never really letting go, the No. 8-seeded Barty capped a quick-as-can-be rise in her return to the sport by beating unseeded 19-year-old Marketa Vondrousova of the Czech Republic, 6-1, 6-3, on Saturday for her first major championship.

“I never closed any doors, saying, ‘I’m never playing tennis again.’ For me, I needed time to step away, to live a normal life because this tennis life certainly isn’t normal. I think I needed time to grow as a person, to mature,” Barty said.

And as for why she came back three years ago?

“I missed the competition. I missed the 1-on-1 battle, the ebbs and the flows, the emotions you get from winning and losing matches,” said Barty, who will jump to a career-best No. 2 in the rankings on Monday behind Naomi Osaka. “They are so unique and you can only get them when you’re playing and when you put yourself out on the line and when you become vulnerable and try and do things that no one thinks of.”

That last part is an apt description of how she approaches each point, looking for just the right angle or speed, understanding where an opponent might be most vulnerable at any given moment. After using her slice backhand, topspin forehand and kick serve to do just that to Vondrousova, she called it a “kind of ‘Ash Barty brand’ of tennis.”

Vondrousova’s take?

“She’s mixing things up. And she has a huge serve,” Vondrousova said. “So it’s all, like, very tough to play against.”

Barty raced to a 4-0 lead and then held on, showing that she learned her lesson after blowing a 5-0 edge in the opening set of her quarterfinal victory a day earlier against another unseeded teenager, 17-year-old American Amanda Anisimova.

“An absolute roller-coaster,” Barty called it.

Her coach, Craig Tyzzer, said the two of them huddled with Ben Crowe, who helps Barty with the mental side of things, and they had a “really good discussion about it” to make sure she’d avoid that sort of trouble in the final.

Neither Barty, 23, nor Vondrousova had ever played in a Grand Slam final before. Neither had even been in a major semifinal until this week, either. But it was only Vondrousova who seemed jittery at the outset; she was playing at Court Philippe Chatrier for the first time.

Barty wound up with a 27-10 edge in winners to become the first Australian to win the trophy at Roland Garros since Margaret Court in 1973.

“I played the perfect match today,” Barty said.

Pretty close to it, particularly at the beginning.

By the end, Barty compiled a 27-10 edge in winners.

It took all of 70 minutes to wrap things up.

“She gave me a lesson today,” said Vondrousova, who is ranked 38th. “I didn’t really feel good today, because she didn’t let me play my game.”

The women’s final started about one-anda-half hours later than scheduled because it followed the resumption of Dominic Thiem’s 6-2, 3-6, 7-5, 5-7, 7-5 victory over Novak Djokovic in the men’s semifinals, a match suspended on Friday evening because of rain.

Thiem will face 11-time French Open champion Rafael Nadal on Sunday in a rematch of last year’s final.

In a women’s draw filled with surprises, Barty faced only one seeded player, No. 14 Madison Keys of the US, along with the women who eliminated Serena Williams and defending champion Simona Halep.

After the US Open five years ago, Barty left competitive tennis. She had been a successful junior, winning the 2011 Wimbledon girls’ title, and played in three doubles finals by then, too.

But she needed to get away and reconsider how to approach her job and all that came with it.

Look where she is now.

“If she didn’t take a break, I’m not sure she’d still be playing. So I think the time away was the best thing for her,” Tyzzer said. “She got her head around that this is what she missed and this is what she wanted to do.”

Sports BusinessMirror

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| Monday, June 10, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

IT takes all of 70 minutes for Ash Barty to wrap things up. AP

DOMINIC THIEM outperforms Novak Djokovic at his own brand of defense-tooffense, speed-and-power baseline game. AP

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Djokovic slam run ends at French Open

ARIS—Novak Djokovic’s 26-match Grand Slam winning streak ended in the French Open semifinals because he made some odd strategic choices, because the wild weather bothered him, because the chair umpire got under his skin.

Mostly, though, because Dominic Thiem managed to outperform Djokovic at his own brand of defense-to-offense, speed-and-power baseline game.

Thiem put an end to the No. 1-ranked Djokovic’s bid for a fourth consecutive major championship on Saturday with a dramatic 6-2, 3-6, 7-5, 5-7, 7-5 victory in a wind-whipped and rain-interrupted match that spanned more than four hours over two days.

“I don’t want to point out some reasons or find excuses for this loss,” said Djokovic, who had won nine of his past 10 five-setters and was 29-9 overall in such matches. “I mean, he took it, he won it and well done to him.”

It wasn’t easy. Shouldn’t be against Djokovic, who kept digging holes for himself and climbing out.

Thiem wasted two match points with quick unforced errors when serving for the victory at 5-3 in the fifth, but he made his third chance count, smacking a forehand winner to break Djokovic in the last game.

“An epic match. I mean, so many ups and downs. And rain, going back to the locker, on court again. Somehow I had the feeling that I had the lead in the whole match, and then at the end, it got so tough,” Thiem said. “Both of us, we could win, and I luckily got the better in the end.”

Djokovic was stopped two victories short of collecting his fourth consecutive major championship, a run that began on the grass at Wimbledon last July, then continued on the hard courts of the US Open and Australian Open.

Instead, it is Thiem, an Austrian ranked No. 4, who now gets a chance to win his first Grand Slam trophy on the red clay of Roland Garros.

Thiem will face 11-time French Open champion Rafael Nadal on Sunday in a rematch of last year’s final. Nadal won that one, part of an 8-4 lead for the Spaniard in their head-to-head series.

“All the time, if someone reaches the finals here, it’s against Rafa,” Thiem said with a laugh.

It will be the fourth straight day that Thiem is in action because of postponements, whereas Nadal will be well-rested, having played his quarterfinal on Tuesday and his semifinal on Friday, when he beat Roger Federer, 6-3, 6-4, 6-2. Beating Thiem again would allow Nadal to raise his Grand Slam total to 18 titles, moving him with two of Federer’s record for a man.

GERMANY’S Kevin Krawietz (left) and Andreas Mies celebrate their men’s doubles victory at the French Open at the expense of France’s Jeremy Chardy and Fabrice Martin, 6-2, 7-6 (3). AP

In the women’s final, which started 1 1/2 hours late on Saturday because it followed Thiem-Djokovic at Court Philippe Chatrier, No. 8 seed Ash Barty of Australia won her first major title by beating unseeded 19-year-old Marketa Vondrousova of the Czech Republic 6-1, 6-3.

On Friday, Thiem had just broken Djokovic to go up a break at 3-1 in the third set when their match was suspended because of a shower.

They resumed 18 and a half hours later, in dry, breezy conditions. The wind that was so fierce on Friday—spreading loose, rust-colored clay dust from the court surface all over the place, making for something that seemed like a sandstorm—was much more manageable on Saturday. It rippled players’ shirts but did not cause havoc with serve tosses and shots the way it had the evening prior.

“One of the worst conditions I have ever been part of,” Djokovic said about on Friday. “That’s all I can tell you.”

Repeatedly, they engaged in long and entertaining points that lasted 10 shots, 20 shots or more. They used anticipation and enviable court coverage to track down each other’s shots. They walloped the ball from all angles.

The very longest of these exchanges tended to go Djokovic’s way: He won 37 of 61 points (61 of nine or more strokes).

For whatever reason, Djokovic often felt compelled to try to shorten points often, hardly his usual strategy. So that led to this key statistic: He won only 35 of 71 points when he went to the net. Thiem, meanwhile, took 18 of 20 on his more judicious forays forward.

Serving at 15-all while down 6-5 in the third set, Djokovic was agitated by a warning from chair umpire Jaume Campistol for letting the serve clock expire. Djokovic wouldn’t let it go, complaining so much he was called for unsportsmanlike conduct.

The lack of focus drifted into his play, too, including a serve-andvolley attempt that handed that set to Thiem.

After forcing a fifth, Djokovic faltered again, getting broken to trail 3-1 when he missed a volley, before Thiem held for 4-1, shortly before rain came.

Djokovic was a point from losing when Thiem served at 5-3, 40-15.

Except Thiem couldn’t close. Dumped a backhand into the net. Pushed a backhand wide. Sent a forehand long. Slapped a backhand into the net.

Hard to recover from that sort of collapse.

But Thiem regrouped. It was Djokovic who faltered—and who lost, something he hadn’t done on a Grand Slam stage since the 2018 French Open quarterfinals. AP

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Most holy God

EAR God, You have created all things and called them good. In gratefulness and hope we pray: Let us know Your presence, oh God. Sustain us in faith, hope and love in the midst of political division and transition. Inspire us to appreciate the Earth’s beauty and to preserve natural wonders for future generations to enjoy. Draw near to those who suffer emotional pain or terminal illness. May God set our hearts on all that is in accordance with gospel justice and love, 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

BAHRAIN Yasmeena Fontaine PHOTO: REDIA CASTILLO

Life

AND THEN SOME: FOUNDATION THAT’S SWEAT-PROOF FOR DAYS THAT ARE TOO HOT TO HANDLE D4

BusinessMirror

DALLAS Crystal Chatmon

Monday, June 10, 2019

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HOUSTON Ellaine Grace Sangel PHOTO: JOEN C. JOYAS

Jug�er Onate: Homegrown glam going global

PRODUCER Jil Lasaca, Mrs. North America 2017 Abby Hamdan, designer Jugger Onate

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EFORE the frenzy that is the revitalized Philippine Fashion Week, let’s feature a Filipino designer steadily making her brand of glamor sashay onto the global stage.

From Cagayan de Oro to Abu Dhabi to Bahrain to Texas, Jugger Onate is living her wildest fashion dreams. “The drive for more is what spurred me to pursue my passion. The thought that there is still more out there to give and to get. More knowledge to grasp, more skills to develop my craft, and more travels to enhance my aesthetics, these are what drove me to get out of my simple comfort zone in my hometown, and be as global as I can be,” says the giddy designer.

Working in the Middle East was not easy; Jugger gleaned as much when she ventured into unfamiliar, sometimes hostile, territory: “It’s a struggle that I took seriously. Armed only with my dreams, I made sure they would come true with hard work, dedication and perseverance,” she says.

The Middle East is a hub of high fashion, and resources to make quality clothes are bountiful. “The women here breathe fashion. Then there’s the high technology that’s within your grasp. It was never easy at first, a far different way of life from what I was used to. Here, you will be driven. I am competitive in many

ways, and I do a lot of research. So being in the Middle East gave me all these advantages, plus an easy access to Europe or America where fashion really thrives,” Jugger, 37, reveals.

Like any creative individual, Jugger’s penchant for fashion and design started early (in high school at Xavier University-Ateneo de Cagayan) by doing costumes for stage plays. She doesn’t have any formal

schooling in fashion until she was able to travel to Europe. Every chance of taking short courses in draping, or couture, or pattern cutting, she grabbed it, such as at the Ecole Les Atelier Alix in Paris, and come September at the College of Fashion at the University of Arts in London for another intensive short course.

A recent trip to Paris felt different: “It’s like I had a fashion epiphany. I was sitting alone on one of the benches on the River Seine, when an apparition of a woman in a billowing dress of lace, tulle and chiffon came to be. I looked at her and how fabulous she looked, then she said something: C’est une journée magnifique! That’s when I felt, I am ready to start a new collection. The day is not only beautiful, life is!”

So it was this romantic mindset with a Parisian flair that Jugger approached a solo show, “Fashion Goes Global,” she was invited to do in Texas last May. “My collection was all about femininity. It was highly evident in the textures and fabrics that I used. The French laces and silks, the fluidity of the soft tulle and chiffon, even the crystals and embellishments that were placed prominently like the sparkling Eiffel Tower illuminating the Paris skyline at night. It’s all about the romanticism, drama and beauty of a woman. Even the music was all in French,” Jugger recalls.

“The show aimed to raise money for scholarship programs to poor but deserving students in the Philippines, particularly in Tarlac. I personally believe in the power of combining philanthropy and fashion to support education,” explains Jil Lasaca, the show producer and chairman of Roscon’s Foundation, a nonprofit organization composed of community leaders in Dallas. “The fashion show was also a tribute to 10 outstanding mothers of the Dallas-Fort Worth area, as we wanted to highlight their important contributions to society.”

Everything is big in Texas while anything is magnified in the Middle East, and Jugger deftly

melded the two moods for her collection of exquisite caftans and heavily embellished dresses.

“I was overwhelmed with the reception and the commendation, and the satisfaction of the audience as they saw your dresses on the runway. How the women would wait for you backstage to personally congratulate you or inquire about a dress or two, how they would want to buy your dress right there and then—it was just so surreal,” Jugger recalls breathlessly.

The caftans, unsurprisingly, were sold-out. Then Jugger got invited to join the Luxe Summer Fashion 2019: Best of the Islands show in Houston and Beaumont, selling more of the couture creations.

“Fashion shows abroad give you a very good platform in showcasing your aesthetics, your creation, your identity as a designer in a very dynamic, creative world. You put yourself out in the world in a package where people would either love you or hate you. In this case, my first shows in the US prove that I am ready for the world,” Jugger reflects.

“I will be going back to the US in September to October for a series of shows. My collection will be a mix of couture and luxewear, plus I will also relaunch our very own Mindanao Silk, and indigenous woven fabrics will be infused in my collection. It will be high fashion and cultural heritage in one. The thing that I really love advocating for is our very own brand of glamor on a global scale.” n

❶ PLAYFUL construction. Structural striped dress. ❷ CASSERINE full needle knit dress in navy. ❸ TOP hits. Eloise linen top in chestnut. ❹ LOOKING crisp. Delta tobacco colored cotton twill pants.

Exploring movement in clothes SINGAPORE-BASED fashion label In Good Co. brings in another exciting capsule perfect for the modern woman, and her ever-changing, dynamic lifestyle.

This comes in time for the opening of its new store at R1 Level of The Power Plant Mall in Rockwell Center. It also has stores in SM Makati and SM Aura Premier.

Capsule °16 is an exploration of movement in clothes brought about by the label’s fascination by how movement travels in fabric—how it performs, move and shape-shifts. Capsule °16 explores new, modern silhouettes that tune exaggerated proportions and deft layering.

Making movement in and within

clothes, Capsule °16 presents a collection of pieces that feature volume in a bold, new way. With tailoring and drape work, fabric is manipulated to create body and new dimensions that flow and move, and is constructed and layered.

While intricate in their construct, these pieces retain In Good Co.’s signature for comfortable, fuss-free stylings.

Established in Singapore in 2012 by the brand’s Creative Director Sven Tan and Chief of Design Kane Tan, along with their fellow good friends Jaclyn Teo and Julene Aw of the label’s finance and operations, In Good Co. champions the fashion movement to go seasonless— bringing only three capsules of ultrawearable styles a year.

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❹

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Monday, June 10, 2019

Style

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z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kate Upton, 27; Leelee Sobieski, 36; Shane West, 41; DJ Qualls, 41.

HAPPY BIRTHDAY: Use your imagination and creativity to explore possibilities and find solutions that will make your life better. Start with your spending habits and the way you take care of your personal paperwork, and move on to make physical changes that will enhance your appearance, as well as build strength and stamina. Success begins with how you live your life.

Your lucky numbers are 5, 11, 19, 28, 31, 39, 44.

a

ARIES (March 21-April 19): Review what’s happened at home or at work that is causing you to feel threatened or uneasy. Look for a way to complement what’s going on around you, not disrupt a situation that is already too late to stop.

HHH

b

Modern takes on traditions I F you think fashion has become indistinguishable from one show to the next, here’s a but of good news. Shangri-La Plaza (www.facebook.com/shangrilaplazaofficialfanpage) puts the spotlight on Filipino talent and creativity for its monthlong celebration of “Likha.”

Fashion takes a different turn with Shang’s latest runway offering, the Heritage Fashion Show, parading pieces culled and curated from women micro-entrepreneurs, indigenous peoples and popular designers.

Initiated by Great Women, this fashion series promotes local textile traditions by adapting them into stylish pieces in tune with current trends.

The showcase includes Great Women’s own GW Collection, along with works from collaborators like fashion designer Rhett Eala, accessories brand Adante Leyesa, bag makers Fino Leatherware and Lara, shoe artisan Ai-She and clothing label Tygie.

As part of the anticipated pop-up event Filipino

Flavors and Fabrics: A Great Women Festival of Homegrown Food and Design, which promotes the country’s cultural heritage and livelihood-to-market sustainability, the show also highlights eco-conscious fashion (in contrast to mass-produced fast fashion), which encourages slower production schedules, lower carbon footprints, and, equally important, fair wages for the producers.

Shoppers at the Shang can update their wardrobe and accessories with contemporary Filipiniana looks from merchants like Beth Agarao, and support indigenous artisan labels like Angie’s Yakan Cloth, Cowhed and K’Datu Souvenirs.

Brands like Bidibidi is also a must for those who want to carry bags that combine traditional crafting techniques and upcycled materials.

Aside from the exciting fashion, the festival offers a delicious selection of local products such as Secret Kitchen of Samar delicacies, Pamora Farms frozen produce and Proudly Promdi beverages. n

TAURUS (April 20-May 20): A change is heading your way. Go with the flow, and you’ll discover new ways to get things done more efficiently. An intellectual awakening will help you gain respect and ease your workload. Brush up on new technology. HHHHH

c

GEMINI (May 21-June 20): Look at situations closely before you make assumptions or get all worked up over nothing. Concentrate on getting your house in order and your money matters under control. Don’t rely on someone who has let you down.

HH

d

CANCER (June 21-July 22): Be secretive about the way you feel, as well as your plans until you have mulled over the pros, cons and consequences of your actions. Time is on your side, and intelligent decisions will pay off. HHHH

e

LEO (July 23-Aug. 22): Keep working until you finish what you set out to do. Falling short of your goal will give someone ammunition to use against you. Ward off negativity with a positive attitude, honoring your promises and taking care of your responsibilities. HHH

f

VIRGO (Aug. 23-Sept. 22): Keep communications open, and do your best to lend a helping hand. Sticking to the facts and making changes that are conducive to progress will help you maintain your reputation and deter others from meddling in your affairs. HHH

g

LIBRA (Sept. 23-Oct. 22): You can stop negativity in its tracks if you know what it will take to keep the peace. Personal changes should not be made while facing emotional stress.

Concentrate on doing the research necessary to reach your objective successfully. HHH

h

SCORPIO (Oct. 23-Nov. 21): Plan a business trip or meeting or attend a conference that will give you the strategy you need to move forward. You’ll be attracted to doing things in an unconventional manner. Check the cost before you proceed. HHHH

In #MeToo era, Japanese woman slams #KuToo heels dress codes i

By Yuri Kageyama The Associated Press TOKYO—Japanese women are saying, “No,” to high heels in what’s been dubbed the #KuToo movement, a play on the words for “shoes” and “agony,” and allusion to the #MeToo hashtag.

“This is about gender discrimination,” Yumi Ishikawa, 32, an actress and writer, who started the movement, said in an interview with The Associated Press on Wednesday.

“It’s the view that appearances are more important for women at work than for men.”

Like makeup on a face, a girl’s legs look better in heels, she said sarcastically, her feet in blue sneakers.

Earlier this week, Ishikawa handed the labor ministry a petition that

she began online, protesting many companies’ requirements that their female staff wear pumps and heels.

The petition had collected 18,856 signatures by then.

When asked about the petition in a parliamentary committee hearing on Wednesday, Takumi Nemoto, the minister of labor, appeared to defend heels-on-the-job, saying they may be needed because of customary social expectations in some occupations.

Employees’ health and safety need to be protected, but work is varied, said Nemoto, who oversees the country’s workplace reforms.

The debate over heels began in January with tweets by Ishikawa about her frustration over being required to wear 2-inch heels for her part-time job as a receptionist at a funeral parlor.

“I like my job right now but wearing pumps is really so hard,” one of her tweets said. “Of course, if you want to wear them, please go ahead.”

Japanese laws guarantee gender equality, but critics like Ishikawa have long complained such ideals aren’t playing out in real life.

Men in Japan are, of course, not required to wear heels, though many do wear business suits, crisply ironed dress shirts and ties. For hotter summer months, many offices have an official “cool” short-sleeves, no tie dress code. Many Japanese also take off their street shoes and wear slippers or sandals while inside their offices.

Japan ranked 110th in the latest World Economic Forum ranking on gender equality, which benchmarks 149 nations on the treatment

of women, such as educational attainment and health hazards.

Women elsewhere, including the US, Canada and Europe, have also protested dress and makeup requirements and having to wear heels. The red carpet at Cannes, infamous for its strict dress code, has seen celebrities walking barefoot in defiance.

Ishikawa said she hoped to win over fashion designers to make more comfortable footwear that’s acceptable as formal wear.

She sees the #KuToo movement as a way to raise awareness about sexism.

“Shoes are so everyday,” she said.

“People can more directly see the issues of people’s dignity and rights, and so shoes may lead to a better world.”

SAGITTARIUS (Nov. 22-Dec. 21): Emotional situations will drive you to distraction. Don’t try to drown your sorrows with excessive or indulgent behavior. Moderation will be your saving grace, and personal growth will help build confidence and the courage to do what’s best. HH

j

CAPRICORN (Dec. 22-Jan. 19): Be aware of how others feel before you make a change that may cause a dispute with someone you have to deal with daily. A change may be on your radar, but without approval, you won’t get far. HH

k

AQUARIUS (Jan. 20-Feb. 18): Situations will get blown out of proportion quickly. Stick to projects you can work on alone. Updating your image or your personal space, or going through your belongings to see what you can discard, donate or sell is favored. HHH

l

PISCES (Feb. 19-March 20): Consider your motives and what to offer in order to get what you want. Today is about give-and-take and aiming for equality in all you do. Be fair, and the returns will be good. HHH BIRTHDAY BABY: You are original, emotional and colorful.

You are helpful and astute.

‘cornball’ BY DAVID STEINBERG The Universal Crossword/Edited by David Steinberg

ACROSS 1 Tote bag part 6 Like a hurricane’s eye 10 Emails asking you to wire money, usually 14 Garlicky mayonnaise 15 CEO, e.g.

16 Its first syllable aptly sounds like “pay” 17 Crystal-filled rock 18 “You’re on!”

19 Ides of March rebuke 20 Corntucky Fried Chicken mascot?

23 Pooh’s rhyming pal 24 Quarter of dodeca 25 Tofu protein 26 Stat. determined by weight and height 29 Anything ___ 32 “Anything ___?”

34 Celebrate a corn harvest?

39 Frozen II princess 40 Playfully shy 41 Water, in Oaxaca 42 Literary corn growers?

7 Bloody ___ 4 48 Toy company with a Bugatti Chiron set 49 “Sicko Mode” genre 50 First mother 52 Kimono sash 54 Broody subculture 56 Sorting system at a corn farm?

61 Singer Vannelli 62 Wander 63 Wow 66 Vogue competitor 67 Sport for woods and Woods 68 Turn one hand into two, in blackjack 69 Calendar boxes 70 Healthy milk choice 71 Mu Alpha ___ (math honor society) DOWN 1 Really sink in?

2 One may be clip-on 3 Knight neighbor 4 Reddish-brown wood 5 Polish dumplings 6 Give up 7 Skating jump

8 Path of ___ resistance 9 British sports car 10 Triggered a radar gun 11 “Turn! Turn! Turn!” folk singer 12 Houston MLB player 13 Timid 21 12, at times 22 South Sudan river 26 Playtex products 27 Often-striped candy 28 Just by description 30 Carve into a tree trunk, say 31 Bar you don’t want to hit 33 Whack, as a fly 35 Ritzy party 36 Jane who married Mr. Rochester 37 Spiritual glow 38 Speak hoarsely 43 Fast-food tycoon Ray 44 Bionic humans 45 Kept in a wine cellar 46 Major cable company 50 Urged (on) 51 “Presto!”

53 Former Apple laptop

5 Zing 5 57 “Easy ___ it” 58 Indonesian surfing destination 59 Two-band radio type 60 Hay ride seat 64 Clearasil target 65 Late guest’s guess, briefly

Solution to Friday’s puzzle:

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Monday, June10, 2019

Ricky Davao is on a roll O

NE artist we truly admire and hold in high esteem is Ricky Davao.

He wears many hats and excels in the many roles that he chooses to take on.

The year has not even reached its first half yet, but Davao continues to surprise us with one good news after another. He kicked off 2019 with an important role in the Asian film Killer Not Stupid, which was shot in Taiwan and directed by Singaporean filmmaker Jack Neo. Davao plays a minister, one of the darker characters in the film which had its world premiere in Singapore before the movie did a commercial run in Taiwan. The Filipino thespian met Neo when they both sat as jury members in a past edition of the Asean International Film Festival (AIFFA) in Malaysia. “We kept in touch and then that offer came along,” Davao shared.

And just this summer, Davao reprised his dual role in the restaging of the play Baka Hindi Naman, a Philippine adaptation of Georges Feydeau’s A Flea In Her Ear, directed by Dennis Marasigan.

Davao told us that he holds this particular material dear to his heart. “It was the very first play that I saw as a young boy and my father [Charlie Davao] was part of that play, and he shared the stage with the late, great Vic Silayan.”

On television, Davao spends more time behind the camera as director for some of GMA’s dramas. He just started a new series Dahil sa Pag-ibig, topbilled by network stars Benjamin Alves and Sanya Lopez. The series explores the complicated relationships that involve overseas contract workers and the loved ones they leave behind.

“I terribly miss acting in front of the camera but I guess that directing also gives me a different kind of fulfilment as a creative artist and a collaborator,” he explained.

And when offers to act comes, especially for film and Davao gets hooked with the script and the character being offered, then it is not difficult for him

Eddie Garcia suffers heart attack; GMA issues statement

RICKY DAVAO with his youngest daughter Arabella

to find the time to squeeze in these projects.

Davao is bent on surprising us once more when he essays a very important role in the horror movie, Clarita, directed by the young, intelligent and brilliant Derick Cabrido.

Clarita, which opens in cinemas this week, has Jodi Santamaria playing the title role as a woman possessed by the most evil of spirits, and Davao plays a priest that specializes in exorcism.

“It’s a very difficult role but I am very impressed with our young director, who is not only very detailed but also knows what he wants to achieve for the film

and goes to any length in making sure that every frame is beautiful and rightly shot and acted. I am just happy to be part of this movie,” Davao said. He was also thrilled about the casting of the film; aside from Santamaria, he got to work with Angeli Bayani and Arron Villaflor.

On the home front, Davao’s youngest daughter Arabella just graduated with a degree in Interdisciplinary Studies at the Ateneo de Manila University. “I am a proud father!”

Ricky Davao is consistently on a roll because he gives only the best in whatever role he takes on. n

Obamas to produce exclusive podcasts for Spotify

FORMER US President Barack Obama (right) and former first lady Michelle Obama AP

LOS ANGELES—Barack and Michelle Obama’s production company is teaming up with Spotify to produce exclusive podcasts for the platform.

Under the Higher Ground partnership announced on Thursday, the former president and first lady will develop and lend their voices to select podcasts.

The Obamas launched Higher Ground in 2018 with an initial partnership with Netflix. The idea was to raise new, diverse voices in the entertainment industry. The Spotify partnership seeks to expand the conversation.

In a statement, the former president says podcasts offer an opportunity to “foster productive dialogue, make people smile and make people think.”

Michelle Obama says she hopes they can help people connect emotionally and open their hearts and minds. AP

LEGENDARY actor-director Eddie Garcia was in the middle of shooting for the upcoming GMA series Rosang Agimat in Tondo, Manila, in the morning of last Saturday when the multi-awarded artist suffered what his family said in a statement was a “severe heart attack. He is still under critical observation and all his doctors are doing their best to assure that he gets the best care.”

The statement was issued shortly after the actordirector was brough to a hospital in Quezon City.

“He is still under critical observation and all his doctors are doing their best to assure that he gets the best care.”

Last Sunday, GMA issued its own statement, which reads: “The video of Mr. Eddie Garcia faltering in his steps and eventually collapsing has reached GMA. We are seriously reviewing the said video as well as other videos of the same scene which our cameras also took, before we make any conclusions on what really transpired. The statement that was released earlier was given to GMA News by Nick, Mr. Eddie Garcia’s stepson. We will wait for the family or their doctor to issue a formal update on his condition. Meanwhile, we continue to pray for his quick recovery.”

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Monday, June 10, 2019

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Foundation that’s sweat-proof for days that are too hot to handle

I

S there such a thing as foundation that won’t budge even after you sweat, which is normal right now in what is probably the hottest summer of our lives? Or should you even wear a liquid base in this weather?

I would normally say, “No, you don’t,” but there are events and parties that require you to arrive with a full face of makeup and that includes liquid foundation.

But how do you make foundation last? There are tips and tricks, of course. There are also products, such as primers and fixing sprays that make your foundation last longer. At the end of the day, however, it is still the foundation you use that matters and how you applied it.

My application method is a combination of techniques I picked up from various makeup gurus like Wayne Goss and Tati Westbrook.

First, I spray with a mist (like MAC Prep + Prime Fix +), then apply the foundation with a paddle brush. Then, I use a makeup sponge (usually a Beautyblender) that’s damp, not wet, to press the foundation in.

After that, I apply a translucent loose powder (try Make Up For Ever Ultra HD Loose Powder, or Coty Airspun Loose Face Powder). Then I use the mist again.

Now, I will review one of my favorite foundations and one of those face bases that are known for longevity.

I’ve been using Estee Lauder Double Wear Makeup for quite a while. It’s my choice for days when I have two or more events to go through, or when I have an outdoor event but I still need to wear makeup.

In terms of shades, I usually mix Warm Creme and Tawny, or I just wear Tawny, which is my exact shade.

I have so many foundations but most days, I pick up Double Wear because it really is the most practical for this weather.

I love Double Wear because Estee Lauder has an in-store system that matches you perfectly.

I have a tendency to wear shades that are too dark for me, and this is how I found out my exact shade is Tawny.

Estee Lauder Double Wear Makeup has a medium to full coverage and semi-matte finish.

I apply this over well-moisturized skin. For reference, I have oily skin with dry spots here and there. I love how easy this is to apply and blend. If your skin is dry, you can use half a drop of facial oil to the foundation.

As for longevity, the longest I’ve had Double Wear on my face was 14 hours and it stayed there while every other makeup had left my face due to the humidity. My base was covered, so to speak. Estee Lauder Double Wear Makeup is slightly more expensive than foundations from midrange brands (around P1,900) at P2,400 for 30ml, but you only need a pea-sized amount of the product for the entire face.

To remove the foundation at the end of the day, it is best to use an oil-based cleanser like the Shu Uemura ones.

For skin types, Estee Lauder Double Wear Makeup would work with anyone who has normal, normal combination and oily skin. n PHOTOS: @MAKEUPFOREVEROFFICIAL @ESTEELAUDERPH @MACCOSMETICSPH @BEAUTYBLENDER ON INSTAGRAM

A champion among champions GET reacquainted with a Champion—that is, the Bally Champion sneaker, which is back and promises to be one of the years “It” sneakers for the Swiss luxury brand. Originally launched in the 1990s, the Champion quickly became a favorite among Swiss tennis stars Jakob Hlasek and Marc Rosset who favored the shoes on court as together they won the Grand Slam at the French Open in 1992.

Recreated in a like-for-like design, the Bally Champion sneaker is almost indistinguishable from the original coming in the same 1990s color combinations on the multicomponent rubber outer sole and herringbone mould with new EVA

midsole for cushioning and comfort. Perforated uppers on the lace-up shoes feature breathable mesh lining and tongue embossed archival Bally Tennis logo.

Spring Summer 2019 introduces four additional new seasonal color combinations in white and electric blue, white and fluorescent red, black and red, and white and pink fluorescent in men’s and women’s styles.

Whether you prefer your sneakers on the country club court or the city sidewalk, the Champion conveys a confident winning attitude. The Swiss luxury brand is exclusively distributed by Stores Specialists Inc.

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Monday, June 10, 2019 E1

To improve your company’s health care, get the CEO involved A

By Robert S. Galvin

S the debate heats up again about whether the government should take over the funding and management of health care, it is worth trying to figure out the enduring enigma of why employers have been unable to manage health-care costs.

CEOs need to take control, be bold and get big.

Take control

DESPITE their rhetoric, business leaders have not treated healthcare costs as a core business issue.

Human resources professionals rely on insurance brokers to provide expertise; brokers are rarely equipped to help employers develop effective health-care strategies. Companies where CEOs take control manage spending effectively, commit to learning about where their costs are going and engage top consultants with deep backgrounds to educate them.

Be bold and communicate

GIVEN employees’ dislike of re-

strictions on the doctors they can see, most companies have concluded that it is not worth alienating labor to control health-care costs.

Instead, they have relied on shifting cost increases to employees in the form of higher premiums, deductibles and copays. This approach, however, is reaching its endgame; high out-of-pocket expenses are alienating the scarce workers that the companies are trying to recruit and retain.

Companies that explain to workers why they are imposing restrictions on the providers that they can see, making them pay a higher premium to have more

Save or invest? How companies should navigate recessions

By Ioannis Ioannou & Caroline Flammer

T

HE financial crisis and economic meltdown of 20072009 was disruptive for firms across industries, markets and geographies. An economic meltdown of this magnitude fundamentally affects all aspects of firms’ business environment, unsettles their relationships with customers, employees, suppliers and local communities, and generates a major shift in the competitive landscape.

Indeed, one of t he major challenges of an economic meltdown for strategic management is that it exacerbates resource constraints. As a result, compa-

nies might need to make fewer investments and divest from at least some of their previous ones to ensure survival in the short run. Doing so is a balancing act, though, as divesting from too many resources—or picking the wrong ones—could jeopardize a firm’s ability to thrive in the long run.

We know little about how exactly firms adjust their resource base as they navigate through the shifting landscape and new economic realities. To understand this phenomenon and its implications for companies, we set out to investigate how companies adjusted their strategic investments—i.e., their work force, capital expenditures (Ca-

pex), R&D and corporate social responsibility (CSR) investments.

More specifically, we asked: How did companies adjust their resource base during the Great Recession of 2007-2009? Did they try to “save their way” or “invest their way” out of the crisis?

Using data for publicly traded US companies, we find that overall these firms significantly reduced their work force and Capex during the Great Recession. Yet—remarkably—they maintained the same level of R&D and CSR. These findings suggest that companies, on average, responded to the crisis by following a twopronged approach of simultaneously “saving their way out of the crisis” by reducing their work

force and Capex, and “investing their way out of the crisis” by sustaining their investments in R&D and CSR. Therefore, our results imply that innovation capability and stakeholder relationships were seen as instrumental in sustaining firms’ competitiveness during the Great Recession.

Finally, we examine whether companies that sustained their investments in R&D and CSR perform better in the years following the economic meltdown. We find that indeed they do.

Ioannis Ioannou is an associate professor at London Business School.

Caroline Flammer is an associate professor at the Boston University Questrom School of Business.

Making health care affordable for low-wage workers

E

By Jeff Levin-Scherz & Steve Nyce

MPLOYER-SPONSORED health insurance historically offered access to affordable health care to many Americans of every social and economic class. But low-wage workers face particular challenges in the current approach to health-care financing. Given that health-care costs are unlikely to fall in the foreseeable future, what can employers do for their low-wage workers in the meantime?

Offer higher subsidies

EMPLOYERS with high margins or large cadres of high-wage workers can afford to offer higher subsidies to low-wage workers.

Offer a choice

LOW-wage workers benefit from having a

choice of health plans that include lower deductibles and lower variability in potential out-of-pocket liability.

Help them maximize potential outside subsidies.

MANY companies eliminated coverage for parttime employees in 2014 and 2015, when the Affordable Care Act offered subsidized plans on the individual market. Part-time coverage usually came with high employee-paid premiums, and the majority of part-time employees were able to purchase a better health insurance plan for a lower premium on the exchange markets.

Offer plans with low out-of-pocket costs

MODERN highly tailored narrow network plans can offer more generous benefits made possible because of lower provider prices

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

or lower provider-induced overutilization.

This also makes such plans more attractive to low-wage workers and to those with significant illnesses.

Review incentives and subsidies

LOW-WAGE workers are often more likely to forgo “wellness incentives,” which in many instances will raise their health insurance premium costs. Therefore, employers should design wellness incentives to be simple and straightforward so that they are less likely to penalize low-wage workers.

Offer plans with robust navigation services

THE US health-care system is difficult to navigate, and low-wage workers, especially those for whom English is not the first language, can benefit from assistance in obtaining timely

and appropriate high-value health care.

Continue to push

EMPLOYERS should continue to pressure health plans and providers for lower prices, because high prices are the primary cause of excessive US health-care costs The specific actions we recommend can help assure that health care coverage meets the needs of low-wage workers and bolsters employers’ and other payers’ diligent efforts to control health-care costs overall.

Jeff Levin-Scherz is a senior director and coleader of the North American Health Management practice at Willis Towers Watson. Steve Nyce is a senior economist and the director of the Research and Innovation Center at Willis Towers Watson.

choices or steering them to centers of excellence have been able to make these changes without employee friction. There is no evidence that employees don’t take or leave jobs they enjoy because of health-care benefits.

Get big

HEALTH care, like politics, is local.

A large global employee base does not equate to volume and leverage in individual communities. Employers have relied historically on health insurers to be their volume aggregator, but insurers have been reluctant to shift volume to the best doctors for fear of alienating other

providers. And despite multiple efforts over many decades, employers have had limited success on their own in aggregating volume to purchase the best health care.

The fundamental dynamic of Medicare and Medicaid underpayments to hospitals and doctors will continue to force these providers to shift costs to employers. Employers can’t do anything about that.

But they can steer their employees to the providers that produce better outcomes at the lowest possible cost.

Robert S. Galvin is the CEO of Equity Healthcare.

MANAGING THE HOPES OF SERIOUSLY ILL PATIENTS

C

By Brad Stuart

LINICIANS often withhold information about disease progression and prognosis for fear of destroying their patients’ hopes. Hope is not a monolithic entity that lives or dies with the prospects for cure or recovery, but rather a process that unfolds as illness progresses, whether treatment is successful.

Managing hope is different from managing treatment.

Patients and families facing the end of life are emotionally vulnerable. It’s more compassionate—and more effective—to be unconditionally present and to help patients’ hopes evolve in a gentle and compassionate way. Managing hope requires some important qualities in clinicians—qualities that aren’t usually emphasized in traditional medical training. Some principles and practices include:

Relieving pain and other symptoms

UNRELIEVED pain triggers hopelessness, whereas controlling pain allows intrinsic hope to emerge.

Hospice and palliative-care providers are trained to do this.

Asking empathic questions

WHEN the news is that illness is incurable, certain questions can assist patients on the journey from focused to intrinsic hope—questions like “What do you hope to gain from treatment?” and “What do you hope we can help you with?”

Helping the body be the teacher

DOWNTURNS and new symptoms are distressing, but they often contain useful information that clinicians can use to help patients through denial.

Leaning on the door

IF the message that the clinician is trying to deliver triggers denial, trying to break the door down can be counterproductive. Instead, knocking gently and, when the door opens a crack, continuing the conversation at the patient’s own pace, perhaps over several encounters, builds trust.

Learning to see in the dark

COMPASSION means standing unflinchingly with patients, letting them know that the clinician can tolerate the very situation they find intolerable—so perhaps, over time, they can too. This kind of silent courage is contagious.

Seeing through to the other side of despair

DEPRESSION is a clinical syndrome that should be detected and treated, but despair is different.

Despair may be seen as the ultimate form of letting go, a necessary step in healing when a cure is impossible and a rehearsal for the ultimate release that will happen at the time of death.

Brad Stuart is a general internist who created the conceptual model for the first advanced-illness-management program in the United States.

E2 Monday, June 10, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

The PARC continues to serve artists, talented young Filipinos

By Roderick L. Abad

F

Contributor

@rodrik_28

OR the first time since it started operations three years ago, The Performing Arts and Recreation Center (PARC) Foundation opened its hub in San Juan with pocket performances from its artist-partners, guests and scholars.

port and commitments from our generous and compassionate donors and sponsors, we can make his dream a reality soon,” the chairman noted.

Guido cited, in particular, their new partners from Singapore, the Global Cultural Alliance (GCA), a nonprofit arts and culture company, together with two of its affiliates, to help The PARC as it embarks on many worthy projects and key undertakings in the coming years.

As a headstart, GCA copresented “A Walk in The PARC: The PARC Foundation Open House” wherein artists, art practitioners, cultural institution and hub managers, and creative entrepreneurs from both the Philippines and Singapore experienced each of the creative spaces within the center and created connections for future collaborations.

“Art is not just a privilege or something that’s important. Art is a right. Everybody has that right.

You should not deny anybody a right to arts. It’s a basic primary right of living. I cannot envision or live life without art,” said Phan Ming Yen of GCA. This event also marked the 50th anniversary of bilateral ties between the two neighboring Southeast Asian nations, serving as a launching pad for two more upcoming affairs, such as the tribute event on September 5 at the Maybank Theater in Bonifacio Global City in Taguig, and the culminating big charity ball on December 11.

“The partnership forged between the PARC Foundation and the Global Cultural Alliance strengthen the cultural and people ties between Singapore and the Philippines,” said Ambassador Gerard Ho, Singaporean envoy to the Philippines.

“These big events shall feature a series of cultural exchange programs to demonstrate the great collaboration and deep friendship between the Philippines and Singapore for the past 50 years,” Guido added.

The PARC Foundation is a registered nonprofit organization founded in December 2015. With the ongoing developments and future renovation plans to convert this property into a vibrant, bustling artistic hub, this will soon be known as “The PARC Manila” aimed at further elevating the skills and talents of a community of artists and bring forth their artistry to the youth.

The event that took place on May 18, also served as a tribute to its founder, the late Wilmer Guido, who endeavored to provide artists the avenue to hone, cultivate and promote their craft after witnessing not only the lack of such facilities in the country, but also the lack of appreciation of the arts among Filipinos, especially the youth.

“His vision was to spearhead the development of the performing arts in the country by enabling the struggling Filipino artists to succeed. His simple mission was to create a sustainable ecosystem for the performing arts, with The PARC functioning as an open hub for artists to congregate on their skills, equip themselves for their future careers and become relevant contributors of the society,” said William Guido, chairman of The PARC Foundation.

The PARC is housed in a two-story building, which used to be the office of Globaltronics. It’s a welcome addition to the thriving and a progressive city of San Juan.

“In fact, it is probably the only mini-cultural center of its kind in this part of the town,” said Dr. Raul Sunico, world-renowned pianist and trustee of The PARC Foundation.

“It serves to nurture the needs not only of our talented children who may need some financial support, but for the community in general.”

To date, The PARC has became a favorite creative haven for more than 250 independent theatrical shows, rehearsals and many events in this part of the metropolis. But its relevance does not end there. It has also opened opportunities to the less privileged yet talented individuals, especially the children.

The PARCaralan Scholarship Program is the foundation’s two-year flagship project aimed at giving free music, dance and theater classes to gifted young Filipinos from underserved communities and public schools in Metro Manila. This initiative serves as a grassroots project for the performing arts by honing the skills early in the children-beneficiaries’ lives.

“In the Philippines, finishing school is a luxury for the underprivileged. There are approximately 4 million out-of-school youth and children in the country, and the top reasons for not attending are financial,” said Larissa Nodalo, president and cofounder of The PARC Foundation. “But we believe there’s hope because the Filipino youth is rich in creativity. And we believe that underprivileged children can have a future in the performing arts.”

At present, volunteer-mentors from the Manila Philharmonic Orchestra are training about 30 PARCaralan kids in arts and music. Given the program’s initial success and in response to the late founder’s goal, the foundation seeks to train and nurture at least 300 kids chosen from the needy communities in a span of five years.

“This is a big dream. But I believe, with full sup-

G.S.I.S. NOW ACCEPTS COLLEGE SCHOLARSHIP APPLICATIONS FOR A.Y. 2019-2020

APC ties up with robotics firm UiPath

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HE Government Service Insurance System is now accepting applications for the enhanced GSIS Scholarship Program (GSP) for Academic Year (AY) 2019-2020 until June 24, 2019.

“We understand the financial challenges of sending a child to college. Thus, we have made available 400 scholarship slots for children or dependents of lowincome GSIS members and permanent total disability [PTD] pensioners below 60 years of age. The pension fund will shoulder the tuition and miscellaneous fees up to P40,000 per academic year and P3,000 allowance per month of each scholar,” GSIS President and General Manager Jesus Clint Aranas announced.

Active GSIS members who are permanent employees; have at least three years in government service; have a salary grade of 24 or below (or its equivalent job level); and have paid premium contributions for the last six months may nominate their child or dependent.

Single or married active members who are childless may nominate one of their dependents who rely on them for support. PTD pensioners below 60 years old may nominate their child only. Nominees (the children or dependents) must be incoming freshmen who have been accepted in any four- or five-year course or in priority courses in Commission on Higher Education-recognized schools with its own charter or a school qualified by the CHED as Levels IV and III, Autonomous or Deregulated.

Aranas said of the 400 slots, 40 will be allotted to dependents of persons with disabilities, indigenous peoples, and solo or single parents.

“We have put this in place because we want to be more inclusive and add meaning to our assistance efforts,” he added.

Since 1998, GSIS has been granting scholarships to deserving children or dependents of members and pensioners as part of the pension fund’s corporate social responsibility program. A total of 3,682 scholarship grants have been awarded to date.

Monetary incentives in the amount of P20,000, P30,000, and P50,000 await scholars who will graduate cum laude, magna cum laude, and summa cum laude, respectively.

The GSP application forms, requirements, and scholarship terms and conditions are available online at www. gsis.gov.ph.

Interested members may e-mail gsisscholarship@gsis. gov.ph; call (02) 976-4970 or (02) 479-3600 loc 3414; or visit the nearest GSIS office for inquiries or clarifications.

By Rizal Raoul S. Reyes @brownindio

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Contributor

SIA Pacific College (APC), a collaboration between IBM Philippines and SM Foundation, recently announced its partnership with major robotics processing automation (RPA) company UiPath under the company’s Academic Alliance program in the Asean region.

Maria Teresita Medado, APC president, said the partnership with UiPath Academic Alliance fits well with the school’s objective of providing skilled manpower in business, IT and communications industries that are armed with solutions-development competencies necessary for business growth.

“We are very proud to be pioneering the UiPath Academic Alliance in the Philippines and equipping Filipino employees with the skills needed to flourish,” she said in a press statement.

UiPath Senior Vice President for Learning Tom Clancy said it is quite important for Asean to prepare its people for the Fourth Industrial Revolution.

“We need to prepare and train our youth for a more automated future, one where the ability to work alongside robots will be as important as the skills they bring to bear,” he said.

“That is why UiPath is committed to training more than 1 million students globally in the next three years as we understand that education and reskilling are vital if we are to thrive in a digital future,” Clancy added.

Other schools that joined the program in Asean

are Singapore’s Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Institute of Technical Education, ITE College West, and King Mongkut’s University of Technology Ladkrabang (KMITL) in Thailand. UiPath will also partner with NTUC LearningHub, the leading provider of continuous education and training in Singapore, serving over 180,000 training places per year.

Under the program, Clancy said UiPath and educational institutions work together to equip students with critical automation skills, teach them how to leverage RPA in the workplace and prepare them to work alongside software robots. He added UiPath aims to train over 50,000 students and professionals in Asean over the next three years for the automated work force of the future.

He said the UiPath RPA courses will be integrated into existing curriculum offered by higher learning institutions in Asean that aims to institutionalize RPA within academia and prepare students and educators with in-demand automation skills. The courses will be developed by UiPath Academic Alliance instructors who will train and qualify educators who, once certified, will be able to teach students and other educators.

UiPath is going to be the content provider to teach students with RPA, the application of automation to business processes, and equip technical students with RPA Developer skills. Moreover, UiPath shall provide the curriculum, course content, UiPath software platform, learning materials, regular educator training and tools.

Balanga Elementary School gets new 2-story school building

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ALANGA CITY—In time for the opening of school year 20192020, SM Prime through SM Foundation turned over a fully furnished two-story, four classroom school building to the Balanga Elementary School in Balanga City, the capital city of Bataan.

This is SM Foundation’s 93rd school building donation since 2002 when it became a partner of the Department of Education’s (DepEd) Adopt-A-School Program.

SM Foundation School Building Program Coordinator Juris Soliman said the new school building follows the specifications of DepEd just like the other school buildings donated by SM Foundation. It is also emergency ready with a staircase on both sides of the building, fire alarm bell and emergency lights at the landings of both staircases.

Provided with 200 armchairs, 20 were especially designed for left-handed students. Each classroom has a set of teacher’s table/ chair, wall fans, blackboards, toilet and wall clock. The wall-clock donation is also in support of DepEd’s Project WATCH (We Advocate

Time Consciousness and Honesty).

SM’s concern for persons with disability (PWDs) is not only evident in the school buildings that are provided with a ramp for easy access by PWDs and PWD-friendly toilet. PWDs’ self-pride and self-esteem are boosted as SM commissions the PWDs of the Foundation of These-Abled Inc. to make the armchairs and/or the preschool furniture and the teacher’s table and chair sets.

In support of the UN Sustainable Development Goals, SM in cooperation with the contractor KHMAYA added two new facilities to the school building: a book corner with shelves and chairs and a 10-faucet hand-washing facility accessible to all users.

Gracing the turnover ceremonies were School Principal Ameila T. Inieto; OIC, Schools Division Superintendent Carolina S. Violeta; Regional Operations Manager, North SM Supermalls Cesar P. Bondoc; VP-North, SM Supermalls Junias M. Eusebio; SM Supermalls VP Bien Mateo; SMFI Executive Director for Education Linda Atayde; and Balanga Mayor Francis Anthony S. Garcia.

www.businessmirror.com.ph

DepEd launches ALS-EST handbook

By Claudeth Mocon-Ciriaco

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Correspondent

O i mpro ve t he c apacity of Alternative Learning System-Education and Skills Training Program, the Department of Education (DepEd), with support from the Australian Government through the Basic Education Sector Transformation (BEST) Program, launched the ALS-EST Handbook for Implementers at the SEAMEO Innotech in Quezon City.

Held on June 4, the launch of the ALS-EST will help implementers to progress with the program, the DepEd said.

Education Undersecretary and Chief of Staff Nepomuceno Malaluan, who supervises the program under the Office of the Secretary, noted the highlights of the handbook and how it forms part of the DepEd’s commitment to intensify and expand the regular ALS Program, considered a centerpiece of basic education under the Duterte administration.

“Reading through the pre-final draft of the handbook, I realized there is no mention of any values we promote in ALS-EST it is presumed to be embedded in the curriculum. But in addition to the values built into the DepEd curriculum in general, and beyond knowledge and skills that is the focus of ALS-EST, I felt we also need to articulate attitudes and values that implementers and learners, working together as a community, will nurture as part of identity building,” Malaluan noted.

During the event, 150 copies of the handbook were distributed to stakeholders who contributed to its completion and production. Consisting of 14 chapters, the handbook provides a summary of the challenge to reach out-of-school youth (OSY) and adults who were

not able to complete basic education; a discussion of the ALS-EST Program, including its learners, curriculum, learning resources, learning delivery, learning facilitators, assessment and certification; and other aspects of the program.

Assistant Secretary for Public Affairs Service (PAS) and ALS Program and Task Force GH Ambat seconded the commitment and further commended the initiative.

“The ALS-EST Handbook is one of the many testaments to our partners’ unwavering support to the ALS and to quality basic education as a whole. It gives our implementers the convenience of understanding the program and how to effectively deliver it to our out-of-school youth and adults,” Ambat said.

The ALS-EST is a complementary program to the mainstream ALS, the parallel learning system in the Philippines that provides a practical option to the existing formal instruction. Currently in its pilot implementation, ALS-EST aims to holistically prepare learners for various exits, such as higher education, middle-level skills development, entrepreneurship, and employment by integrating a skills training component with the basic education component.

“Nonformal education is not second-class education. It is a modality, a pathway, and for many learners, a second or even first chance at education. This is the framework and motivation that drives the ALS-EST Program,” Malaluan said.

Joining Malaluan and Ambat in the launch were DepEd Region 1 Director Malcolm Garma, Tuloy Foundation’s Education Management Group Head Fr. Sylvester Casaclang, SEAMEO Innotech’s Educational Research and Innovations Office Manager Philip Purnell, and SEAMEO Innotech Center Director Dr. Ramon Bacani.

Seminar on Strengthening Mental Toughness for Leaders and Managers

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EADERSHIP starts from within. Thus said Jim Taylor, PhD, author of The Power of Prime.

Taylor said effective leadership comes from what you think, feel and do. It is one’s mastery of self that makes an outstanding leader. By understanding your inner self, you can build a strong foundation to lead others.

To help you achieve a winning mindset, the Center for Global Best Practices is launching a pioneering program, entitled “Strengthening Mental Toughness for Leaders and Managers: Going Beyond Stress Management” to be held on Thursday and Friday, June 27 and 28, 2019, at the Marriott Grand Ballroom, Resorts World Complex, Pasay City.

Whether you are a people manager, leader or someone who wants to simply increase individual performance, this program will teach you the great foundational principles of the Psychology of Success and Transcendence of our Human Potential.

Discussions will cover how one can successfully manage mental makeup, emotions, attitudes, paradigms, personal myths, relationships and spiritual aspects to live the ideal life you always wanted to have.

This training will help you become a better person that is resilient to any stress, toxic relationships, and daily challenges in the workplace. This is applicable for leaders, managers, employees of all levels and open to the general public.

This two-day program is also in compliance with the Republic Act 11036, or Mental Health Act that took effect on July 5, 2018, and the Department of Labor and Employment’s implementing rules and regulations on RA 11058 that took effect on January 24, 2019.

Attendees will learn the secrets on how to develop the winning mindset and emotional strength that will help you overcome any unconscious obstacles to help you completely fulfill your business and life goals.

This special program will feature the only recognized trainer who runs this pro-

gram in Asia, Robin Michael L. Velasco. He was the HR vice president for six years of the Metro Pacific Investments Corp. (MPIC), the holding company of the Philippines’s largest power distribution company, 12 of the largest hospitals, the largest toll-road network and water distribution company.

Prior to this, he was the HR director for Asia in Synovate, leading the HR function for 12 countries. He was also the HR director for Talent Management for Asia Pacific, for Johnson and Johnson from 2005 to 2007.

In this pioneering program, he will make use of principles he learned in his Masters degree in Existential, Humanistic and Transpersonal Psychology at Saybrook University,(the best school which teaches this specialized discipline.

The CGBP is an accredited training provider of the Civil Service Commission.

Attendees from the government can earn points for their career advancement and are exempted from the P2,000 limit set by COA when attending training conducted by the private sector based on DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail themselves of the early payment savings and group discounts for three or more attendees. Seats are limited and preregistration is required.

This program is highly recommended for aspiring leaders, managers, employers and employees of all levels. Registration is open to the general public. For inquiries, you may call landlines in Manila (+632)842-7148/59 and (+632) 556-8968/69, in Baguio (+6374) 423-2914, and in Cebu (+6332)512-3106 or 07. Check www.cgbp.org for a complete list of best practices programs including Manager Effectiveness Program, Best Practices on How to Conduct Strategic Planning and Prepare Strategic Action Plans, Best Practices in Financial and Operational Budgeting, Strategy Execution, Succession Planning, Best Practices in Business and Government Protocol and many more.

Marketing BusinessMirror

www.businessmirror.com.ph

PR Matters

By Joy L. Buensalido

Editor: Efleda P. Campos • Monday, June 10, 2019 E3

Why messaging apps are your new best friend F

ILIPINOS who love social media now turn to messaging apps for more privacy.

Like many Filipinos, I use social media to connect with family and friends. Almost everyone I know is just a click away on Facebook and Instagram.

But much as we love scrolling through our feeds and sharing our lives online, we turn to messaging apps, such as Viber, Messenger, and What’sApp for group chats or for more intimate oneon-one’s.

I myself have over 20 Viber groups that keep me posted on just about everything relevant to my work and personal life. I can easily send to, and receive vital news updates from, my colleagues and clients, as well as receive messages and photos from friends and family members who may be in different parts of the globe.

Indeed, the amount of time Pinoys spend on messaging apps has increased by 69 percent yearover year, while monthly active users of these apps have surpassed social media by 20 percent. As of now, a whopping 95.3 percent of Filipinos use messaging apps—but for what reason?

How different are these apps from your regular social-media chat?

One word: privacy. In this digital age when everyone could know whom you met for lunch or just went for a quick trip to Batanes, privacy has become an increasingly precious commodity.

For me, the best of these apps is Viber, which is free, convenient, and most important, private. Privacy is important and our data must be kept secure. This means that the info you share through chat is shielded from the prying eyes of third parties.

We’ve all heard the news.

Powerful corporations pay megabucks to gain access to our personal data, using the information to conduct a number of targeted projects—from marketing products to winning elections. This makes us feel violated. After all, who wants their private information used for someone else’s ulterior motives?

More and more Pinoys are catching on to this realization, demanding that their data be kept secure. Eighty-five percent of Filipinos agree that their data rights should be respected, while 94 percent want to know how apps use their personal information.

Luckily, Viber uses end-to-end encryption, which means that your messages only get to be seen by you and the person you’re chatting with. No one else. Not even the folks who work at Viber can see your chat. Even if they wanted to, it’s virtually impossible—the app is so secure that everything is restricted to just you and your chat mates.

So, what else can a good messaging app give you? According to Lana Macapagal, marketing

CORPORATIONS can benefit from stickers because this fun feature humanizes the brand for customers

SAFE

BECAUSE Viber puts a premium on privacy, you’ll soon be able to do bank transactions through the app. How will this be done, you may ask. Through the use of chatbots, of course! This makes customer service much more efficient, not to mention convenient. Imagine sending a simple inquiry about your account balance. What a luxury!

So, privacy, convenience and speed are what make Viber perfect for modern Pinoys. And with the messaging app’s upcoming new features, you can’t get on Viber soon enough!

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Joy Lumawig-Buensalido is the president and CEO of Buensalido and Associates Public Relations.

VIBER puts a premium on privacy, convenience and speed of messaging

manager of Viber Philippines, the ideal app should be fast, multifunctional, localized and safe.

FAST

WE don’t need the aggravation of a stalled message on a stressful workday, do we? With its simple layout and speed, Viber gets your messages across instantly.

MULTIFUNCTIONAL

DURING her talk at a recent social-media week, Macapagal spoke about all the exciting things Viber has in store for its users. “Soon, we’ll all be able to order food straight from the app,” she said. “Brands will be able to partner with Viber to get more people interested in their products.” Since this will all be done through chat, it will be more engaging for consumers, who can explore new brands right from their phones.

LOCALIZED

DID you know that Viber started the sticker craze now prevalent in messaging apps? Stickers make every conversation more colorful.

There’s one for every occasion, from Mother’s Day to Marvel’s Avengers—and if you’re a sports fan, there are stickers for PRO Football celebration, FC Barcelona 2019, and Golden State Warriors.

“Corporations also benefit from this fun feature because it humanizes their brand for their customers, making them seem more approachable and pleasant,” Macapagal pointed out. “All you need is an attractive sticker pack to get more engagement from customers.”

Viber is actually an ideal platform for direct-to-consumer brand communication. Huge chat groups created by brands on the app make life a lot easier for us, providing instant and direct customer service.

If you have a query about a product or the latest promo announcements, all

you need to do is search for the brand on Viber!

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

Perspective BusinessMirror

E4 Monday, June 10, 2019

www.businessmirror.com.ph

The psychological origins of procrastination– and how we can stop putting things off

By Elliot Berkman & Jordan Miller-Ziegler University of Oregon

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THE CONVERSATION

LOVE deadlines,” English author Douglas Adams once wrote. “I love the whooshing noise they make as they go by.”

To do, or not to do

IT all starts with a simple choice between working now on a given project and doing anything else: working on a different project, doing something fun or doing nothing at all.

The decision to work on something is driven by how much we value accomplishing the project in that moment— what psychologists call its subjective value. And procrastination, in psychological terms, is what happens when the value of doing something else outweighs the value of working now.

This way of thinking suggests a simple trick to defeat procrastination: find a way to boost the subjective value of working now, relative to the value of other things. You could increase the value of the project, decrease the value of the distraction, or some combination of the two.

For example, instead of cleaning my house, I might try to focus on why grading is personally important to me.

Or I could think about how unpleasant cleaning can actually be—especially when sharing a house with a toddler.

It’s simple advice, but adhering to this strategy can be quite difficult, mainly because there are so many forces that diminish the value of working in the present.

The distant deadline

PEOPLE are not entirely rational in the way they value things. For example, a dollar bill is worth exactly the same today as it is a week from now, but its subjective value—roughly how good it would feel to own a dollar—depends on other factors besides its face value, such as when we receive it.

The tendency for people to devalue money and other goods based on time is called delay discounting. For example, one study showed that, on average, receiving $100 three months from now is worth the same to people as receiving $83 right now. People would rather lose $17 than wait a few months to get a larger reward.

Other factors also influence subjective value, such as how much money someone has recently gained or lost.

The key point is that there is not a perfect match between objective value and subjective value.

Delay discounting is a factor in procrastination because the completion of the project happens in the future.

Getting something done is a delayed reward, so its value in the present is reduced: the further away the deadline is, the less attractive it seems to work on the project right now.

Studies have repeatedly shown that the tendency to procrastinate closely follows economic models of delay discounting. Furthermore, people who characterize themselves as procrastinators show an exaggerated effect. They discount the value of getting something done ahead of time even more than other people.

One way to increase the value of completing a task is to make the finish line seem closer. For example, vividly imagining a future reward reduces delay discounting.

No work is ‘effortless’

NOT only can completing a project be devalued because it happens in the future, but working on a project can also be unattractive due to the simple fact that work takes effort.

New research supports the idea that mental effort is intrinsically costly; for this reason, people generally choose to work on an easier task rather than a harder task. Furthermore, there are greater subjective costs for work that feels harder (though these costs can be offset by experience with the task at hand).

This leads to the interesting prediction that people would procrastinate more the harder they expect the work to be. That’s because the more effort a task requires, the more someone stands to gain by putting the same amount of effort into something else (a phenomenon economists call opportunity costs).

Opportunity costs make working on something that seems hard feels like a loss.

Sure enough, a group of studies shows that people procrastinate more on unpleasant tasks. These results suggest that reducing the pain of working on a project, for example by breaking it down into more familiar and manageable pieces, would be an effective way to reduce procrastination.

Your work, your identity

WHEN we write that procrastination is a side effect of the way we value things, it frames task completion as a product of motivation, rather than ability.

In other words, you can be really good at something, whether it’s cooking a gourmet meal or writing a story, but if you don’t possess the motivation, or sense of importance, to complete the task, it’ll likely be put off.

It was for this reason that the writer Robert Hanks, in an essay for the London Review of Books, described procrastination as “a failure of appetites.”

The source of this “appetite” can be a bit tricky. But one could argue that, like our (real) appetite for food, it’s something that’s closely intertwined with our daily lives, our culture and our sense of who we are.

So how does one increase the subjective value of a project? A powerful way—one that my graduate students and I have written about in detail—is to connect the project to your self-concept. Our hypothesis is that projects seen as important to a person’s selfconcept will hold more subjective value for that person.

It’s for this reason that Hanks also wrote that procrastination seems to stem from a failure to “identify sufficiently with your future self”—in other words, the self for whom the goal is most relevant.

Because people are motivated to maintain a positive self-concept, goals connected closely to one’s sense of self or identity take on much more value.

Connecting the project to more immediate sources of value, such as life goals or core values, can fill the deficit in subjective value that underlies procrastination.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/thepsychological-origins-of-procrastinationand-how-we-can-stop-putting-thingsoff-47905.

KLÁRA SÓTI | DREAMSTIME.COM

We’ve all had the experience of wanting to get a project done but putting it off for later. Sometimes we wait because we just don’t care enough about the project, but other times we care a lot—and still end up doing something else. I, for one, end up cleaning my house when I have a lot of papers to grade, even though I know I need to grade them.

So why do we procrastinate? Are we built to operate this way at some times?

Or is there something wrong with the way we’re approaching work?

These questions are central to my research on goal pursuit, which could offer some clues from neuroscience about why we procrastinate—and how to overcome this tendency.