BusinessMirror June 18, 2019

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

BusinessMirror A broader look at today’s business

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n Tuesday, June 18, 2019 Vol. 14 No. 251

Duterte retains tariff on chicken MDM at 5% T

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

HE tariff on mechanically deboned meat (MDM) of chicken and turkey will remain at 5 percent until 2020 after President Duterte followed the recommendation of the National Economic and Development Authority (Neda) and signed Executive Order (EO) 82.

As reported in the BusinessMirror (See, “‘EO on MDM tariff up for Duterte’s signature,’” June 10, 2019), the issuance of the EO is expected to avert increases in the prices of processed meat products, which are popular among most lowincome households. This is because chicken MDM is a key component for the manufacture of hot dogs and canned luncheon meat.

EO 82, which was signed on

June 13 and released to the media on Monday, also retained the lower tariff rate on frozen turkey meat and turkey offal at 20 percent.

The new EO shall take effect immediately after its publication in the Official Gazette or in a newspaper of general circulation, and shall be applicable until December 31, 2020.

“Whereas, the present economic condition warrants the continued

application of reduced rate of duties on certain agricultural products to mitigate the impact of high prices of goods,” read EO 82’s introductory clause stating the rationale for the issuance.

The President is allowed to increase, reduce or remove existing rates of import duty upon the recommendation of the Neda if Congress is not in session.

EO 82 repeals the memorandum

“MDM is the one that is primarily used in our processed products.

[The government is] trying to contain the increase in prices of canned goods because these are usually consumed by the poor.”—Sombilla

circular, which temporarily reverted the tariff on chicken MDM to 40 percent, issued by the Bureau of Customs (BOC) on May 23.

The BOC also told the BusinessMirror that it will continue to collect retroactively more money from importers who were assessed a lower tariff even after Republic Act (RA) 11203 took effect on March 5. However, a consumer group on Monday said the BOC should in fact return the balance of the rates shelled out by importers when it immediately imposed the 40-percent tariff on them right after the

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@alyasjah

T is a win for the buying public. The Department of Trade and Industry (DTI) will thumb down any and all appeals to increase canned meat prices following President Duterte’s decision to retain the 5-percent tariff on mechanically deboned meat (MDM).

Trade Secretary Ramon M. Lopez said the DTI will block any petition to adjust upward the prices of canned meat listed under the suggested retail price (SRP) list.

He argued that canned meat makers managed to keep prices stable even before, more so now that the 5-percent duty on MDM is retained.

Under Executive Order (EO) 82, the President maintained the reduced rate of 5 percent on MDM until December 31, 2020.

“They have not increased [prices even before]. So, good, they will not increase [any longer],” Lopez said in a text message. Tariff on MDM, a key component of processed meat products, reverted to 40 percent in May in line with EO 23.

Under EO 23, duties on concessionary agricultural products, including MDM, should go back to their 2012 rates once the country’s

PESO EXCHANGE RATES n

rice import cap is lifted and converted into tariffs. The rice trade liberalization law, which converted the import cap into tariffs, took effect in March.

The Bureau of Customs in May then issued a memorandum circular authorizing the collection of higher duties on former concessions.

Citing the higher cost of production, meat processors warned earlier they will need to increase prices of their products. Hot dog maker Frabelle Corp., for one, had planned to implement a price hike of at least 20 percent on hot dogs that cater to lower-income households.

However, with the issuance of EO 82, Trade Undersecretary Ruth B. Castelo said in a text message that meat processors “should retain [current prices] since there is no reason to move their prices” under the 5-percent MDM tariff regime.

Frabelle Group of Cos. President Francisco T. Laurel Jr. for his part said the firm is no longer pursuing its initial plan of increasing hot dog prices. However, he argued the reduced rate should be kept indefinitely until the Philippines develops its own MDM production.

See “DTI,” A2

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P25.00 nationwide | 4 sections 26 pages | 7 DAYS A WEEK

Turning waste into gold Manny F. Dooc

TELLTALES

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N a recent column, I praised Sen. Cynthia Villar’s waste management and livelihood program, which she launched in Las Piñas City. Now that the elections are over, I can write a follow up story without being accused of partisanship. Obviously inspired by her seminal work on recycling in Las Piñas, the nearby city of Imus has collected the discarded campaign tarpaulins after the elections. All its 97 barangays were ordered to take down and collect campaign materials and turn them over to the local ecological center, which made them into colorful shopping bags sold in trade fairs for P60 each. This is not the first time that Imus has undertaken a program to reduce plastic waste and make useful products out of them. It has also launched plastic trash collection called “BasuRaffle” where residents exchange plastic waste for raffle tickets that can win them valuable prizes. Last year, Imus City turned over several tons of plastic waste to the recycling plant of the Villar-Sipag Foundation, which I discussed before in this column. The plastic waste was converted into hundreds of armchairs, which are being used by the schoolchildren in Imus. I’m sure that the children in our public schools who are now using the recycled armchairs will be greatly inspired to learn if they realize that waste matter can be turned into gold.

Continued on A7

See “MDM,” A2

DTI shuts door on hike of canned meat prices with 5% MDM tariff EO

By Elijah Felice E. Rosales

2017 EJAP JOURNALISM AWARDS

Angat level dips further despite rains

By Jonathan L. Mayuga @jonlmayuga

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seen a slight fluctuation in recent months.

In particular, remittances at the beginning of the year grew at 4.4 percent, then slowed to 1.5 percent in February. In March, it grew significantly faster at 6.6 percent.

S the water level in Angat Dam continues to go down, the National Water Resources Board (NWRB) has appealed to Metro Manila’s consumers to conserve water for a little longer or until the effect of the “wet season” is strongly felt—hopefully, by the end of the month.

To ensure that the supply coming from Angat Dam will last until fresh supply from the rains comes in, the NWRB advised people to minimize the use of water flowing from the tap, and use harvested rainwater to water plants, wash cars, or flush toilets for the meantime.

Angat is the source of about 96 percent of water for Metro Manila.

At a press conference in Quezon City on Monday, NWRB Executive Director Sevillo D. David Jr. said that as of 6 a.m. on June 17, 2019, the water level at Angat Dam went down to 162.39 meters.

This is 17.61 meters below the minimum operating water level of 180 meters.

Although the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) announced that the rainy season has officially begun, rainfall has not boosted water supply at Angat for the past weeks, the NWRB said in a statement to media.

See “Remittances,” A8

See “Angat,” A2

EXECUTIVE Director Sevillo David Jr. of the National Water Resources Board (NWRB) briefs media on Monday on the current Angat Dam water level and its impact on Metro Manila’s water supply. NONOY LACZA

Remittances grow 4% in April to hit $2.44B

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ASH sent home by Filipino migrant workers remained steady in April, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, allaying fears on the growth trend of the country’s major dollar source for the year.

Data from the Central Bank

showed cash remittances to the Philippines grew 4 percent in April to hit $2.44 billion during the month from its $2.35-billion level seen in the same month last year.

The 4-percent growth stabilized the growth of remittances in the first four months of the year—which has

US 51.9140 n JAPAN 0.4784 n UK 65.3545 n HK 6.6324 n CHINA 7.4958 n SINGAPORE 37.8686 n AUSTRALIA 35.6857 n EU 58.2060 n SAUDI ARABIA 13.8434

Source: BSP (17 June 2019 )

News

BusinessMirror

A2 Tuesday, June 18, 2019

Mimaropa arrivals rising only 10% despite tourism ‘jewels’

By Ma. Stella F. Arnaldo

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@akosistellaBM Special to the BusinessMirror

OURIST arrivals in the Mimaropa (Occidental Mindoro, Oriental Mindoro, Marinduque, Romblon and Palawan) or Region 4B, are ptrojected to hit some 2.81 million this year.

In a text message to the BusinessMirror, Tourism Regional Director for Mimaropa Danilo B. Intong said, “We are only targeting a 10-percent increase in 2019.”

Last year, total tourist arrivals in the region—home to some of tourism’s “crown jewels”—reached some 2.55 million, according to a news statement from the Department of Tourism (DOT).

Intong’s target for 2019 is a conservative estimate though considering the region hosts a goodsized number of resorts and plush accommodations, especially in Palawan, even as the DOT aims to strengthen the region’s position as a world-class tourist hub. The agency intends to do this by making the region’s diverse attractions more accessible, and ensuring that the whole region is a safe haven for international and local visitors alike.

The arrivals in 2018 were some 23 percent higher than the arrivals in 2017. Of the total 2.55 million tourists who visited the region last year, some 31 percent or 787,914

MDM. . .

Continued from A1

rice trade liberalization law was enacted. (See related story below, “DTI shuts door on hike of canned meat prices with 5% MDM tariff EO”).

Duterte issued EO 23 in 2017 to retain the lower tariff rates on select farm goods, including chicken MDM, while Congress worked on amending RA 8178 to remove the caps on rice imports.

After RA 11203, or the rice trade liberalization law was signed by the President, the DA and the BOC had argued that the reversion of the tariff rate on chicken MDM to the 2012 level of 40 percent is automatic.

The Philippine Association of Meat Processors Inc. (Pampi), however, said the reversion should not be automatic. Pampi President Felix O. Tiukinhoy Jr. also told the BusinesMirror that the government should refund any tariff difference collected by the BOC on imported chicken MDM.

Commitment

WITH the issuance of EO 82, local meat processors have committed not to hike the retail price of their products, particularly those that are popular with the poor.

Deaths. . .

Continued from A8

In terms of the number of deaths in ARMM, there were 3,036 deaths or 0.5 percent of the total; CAR, 8,176 deaths or 1.4 percent; and Caraga, 14,928 deaths or 2.6 percent of the total.

In 2017, the number of deaths among males stood at 332,517 which was higher than deaths in females at 246,720. This translated to a sex ratio of 135, which means that for every 100 female deaths, there are 135 male deaths.

“As in most parts of the world, males are more likely to die before females at all ages. In the Philippines, it is clearly shown

were foreigners, while the bulk were locals at 1.75 million, and overseas Filipinos were 7,953.

Among the foreign travelers, the top markets were South Korean, China, the United States, Taiwan and France.

This developed as DOT Mimaropa officials and representatives of at least 10 air, and sea transport companies met recently at the agency’s head office in Makati, and agreed to work together to upgrade tourist services through accreditation, and increased connectivity.

Tourism Secretary Bernadette Romulo Puyat said, “Opening new air routes is vital to the Philippines’s aspiration to become a tourism powerhouse like its Asian neighbors.”

The private transport firms— Philippine Airlines, AirAsia, Air Juan Aviation, Airswift Transport, Skyjet, 2Go Group, Montenegro Shipping Lines, Navios Shipping Lines, Starhorse Shipping Lines, and Starlite Ferries—pledged to comply immediately with accreditation requirements, according to

“We will not increase our prices. We assure the consumers and the Department of Trade and Industry that we will not increase our prices now that [tariff on imported chicken MDM] is at 5 percent,” Tiukinhoy said.

Neda Undersecretary for Planning and Policy Rosemarie G. Edillon told the BusinessMirror that the decision to retain the tariff rate at 5 percent was to reduce inflationary pressures.

Edillon said MDMs account for 22.5 percent to 27.4 percent and 26.3 percent to 35.3 percent of the cost to produce hot dogs and canned luncheon meat, respectively.

“MDM is the one that is primarily used in our processed products. [The government is] trying to contain the increase in prices of canned goods because these are usually consumed by the poor,” Neda Assistant Secretary for Regional Development Mercedita A. Sombilla told the BusinessMirror.

Meat Importers and Traders Association (Mita) President Jesus C. Cham said traders would have preferred the permanent retention of the tariff to ensure that food prices will remain stable.

“It is a welcome, albeit, muchdelayed order which will keep food inf lation in check. But [the issuance of the EO] is a

that males died at a higher rate than females before reaching the age of 80 years, with the greatest difference observed at ages 60 to 64 years,” PSA said.

Meanwhile, the leading causes of death of Filipinos were various diseases of the heart, cancer, and pneumonia. PSA said ischemic heart diseases was the leading cause of death with 84,120 or 14.5 percent.

This was followed by neoplasms which are commonly known as cancers; followed by cerebrovascular diseases with 59,774 or 10.3 percent; and pneumonia at 57,210 or 9.9 percent of the total.

However, causes of death vary in terms of gender. While the leading cause of death for both males and females is ischemic heart disease, the other top killers of men differ

23% The increase in arrivals in 2018 over the arrivals in 2017. Of the total 2.55 million tourists who visited the region last year, 31 percent or 787,914 were foreigners; the rest were locals at 1.75 million, and overseas Filipinos, 7,953

the DOT news statement. Transport services are considered primary tourism enterprises that need accreditation, in accordance with Republic Act 9593, or Tourism Act of 2009.

With increased connectivity and accessibility, Intong, for his part, said Mimaropa’s emerging destinations in the other provinces will gain global attention now enjoyed

by Palawan’s natural sights.

Most of the tourists who arrived in the region last year visited Palawan’s renowned attractions like the Puerto Princesa Underground River, Tubbataha Reef, El Nido and Coron islands.

In response to DOT’s challenge to make the entire Mimaropa region a major tourist hub, the transport companies have given assurances they were planning to increase and expand connectivity from other Philippine cities and from abroad. Representatives of the airlines and shipping companies

short-lived victory. That’s not good for consumers,” Cham said.

Edillon said the decision to extend the lower tariff rate on chicken MDM only until 2020 was also in consideration of rice prices.

“The government hopes that the price of other commodities will have stabilized by [2020], notably, rice. This means the tariff increase in MDM will not likely result in high inflation,” she said.

After December 31, 2020, depending on the economic conditions at the time, the government may choose to gradually increase the tariff on MDM. This, Edillon said was the original recommendation of the Neda.

Food safety

UNITED Broiler Raisers Association (Ubra) President Elias Jose Inciong expressed disappointment over the government’s decision to retain the 5-percent tariff on MDM. Inciong also raised concerns over the food and health standards observed by meat processors in using MDM. “The Food and Drug Administration [FDA] should look into the inclusion rate of MDM in accordance with health standards of the country of origin. How would consumers know that indeed it is affordable and it is of value to

from the top causes of death of women.

For men, apart from ischemic heart disease, the top killers are cerebrovascular diseases, neoplasms and pneumonia. For women, the other top killers are neoplasms, pneumonia and cerebrovascular diseases.

“It was also observed that assault was included in the 10 leading causes of death with 10,866 or 3.3 percent of the total deaths in males,” PSA noted.

Data on deaths presented in this release were obtained from the Certificates of Death that were registered at the Office of the City/ Municipal Civil Registrars nationwide.

These certificates are then forwarded to the PSA. The information includes registered deaths which occurred from January to December 2017.

said they would add more flights and open new routes to connect to the region.

Intong said cruise and nautical tourism is a very promising niche market in the region. “We are elated as we share the renewed optimism over the continued growth of tourism industry, which has proven to be a key economic driver that can help uplift the lives of the poor in the countryside,” he emphasized.

Accreditation of transportation firms earn the chance to be given the Seal of Quality Facility, according to DOT Mimaropa officer Cecil V. Aranton.

Another incentive for DOT accreditation, she said, is the transport service provider eligibility for membership in the Tourism Promotions Board (TPB), the marketing arm of the DOT, she said.

TPB officers Mark ����������������� Nicole Evangelista and Milo Oropeza��������� also explained to the transport firms the agency’s efforts at marketing the region.

During the meeting, P/Lt. Col. Robin Sarmiento of the Philippine National Police for Mimaropa assured the public that the region remains a safe haven for tourists, with one of the lowest crime rates in the country. To this, Intong said the DOT is continuously training more tourist policemen in the region.

DOT-Mimaropa officials are also expected to meet with authorities of the region’s airports and seaports, as well as land travel and tour service providers, to discuss issues on tourism infrastructure needed to improve its connectivity.

them?” he said.

Inciong noted that meat processors have admitted in previous Senate and Tariff Commission proceedings that the inclusion rate of MDM in their products is “high” at 35 percent. High MDM content could pose health risks to consumers, he said.

“The Economic Development cluster assured the profits of meat processors. But as far as consumers are concerned, [the government] does not have any grounds to assure that consumers will benefit [from high MDM use],” Inciong said.

However, Tiu k inhoy d ismissed Inciong’s claim, saying he has no technical basis for declaring that high MDM use poses health risks. Also, the Pampi chief said processors keep utilization rate at safe levels.

“We will not do anything that is not good for our consumers. We do not exceed the healthy utilization rate of MDM. Besides, this [MDM] is where our consumers get their protein and calcium,” Tiukinhoy said.

As unscrupulous traders misdeclare chicken leg quarters as MDM, the Ubra chief also urged the government to institutionalize measures that would curb technical smuggling of imported poultry. With a report from Cai U. Ordinario

Customs. . .

Continued from A8

Guerrero pointed out that the computer information systems upgrade forms only the first part of its plan to completely modernize the bureau with the help of multilateral agencies. “[This is] in-house; this means we tapped local talents for this program. [The investment] will not reach maybe tens of millions. Later on when we expand, when we adapt a more robust system through the full modernization program, remember we are embarking on a full-scale modernization program and we are closely working with the World Bank and other service providers for us to be able to source and implement it nationwide,” he said.

www.businessmirror.com.ph

‘New SSS law makes OFWs less competitive’

By Samuel P. Medenilla @sam_medenilla

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VERSEAS Filipino workers (OFW) may have to suffer fewer job opportunities abroad in exchange for their new additional benefits from the Social Security System (SSS).

Migrant advocates and the recruitment industry issued the warning as the implementing rules and regulations (IRR) of the Social Security Act (SSA) of 2018 finally took effect on Monday.

SSS membership for the estimated over 380,000 Filipino seafarers abroad was not mandatory prior to the SSA. “It is the right thing to provide social protection [to our OFWs], but not at the expense of their competitiveness,” Blas F. Ople Policy Center head Susan Ople said in a joint press conference.

This, the Joint Manning Group (JMG) said, is especially true for Filipino seafarers as their foreign employers would now have to pay more for their SSS premium.

Citing the computation of the International Maritime Association of Japan (IMAJ), JMG Vice Chairman Eric Marquez said it would cost Japanese employers an additional $4 million to pay for the SSS premiums of the Filipino crew of Japanese sea vessels in 2019 alone. He said this will reach $25.5 million by 2025.

“This is just for the vessels under the Japanese. If we add the cost of those under the European and other country’s fleet, we may be putting ourselves in a situation wherein Filipinos will no longer be competitive as compared to other countries competing for these slots aboard the ships,” Marquez said.

Supreme Court case

JMG also opposed how the SSA allegedly wrongfully proclaimed them as the principal of the seafarers, even though they only serve as third-party service providers.

“The real employers of the seafarers, following the law’s own definition, are the foreign shipowners,” JMG Chairman Oscar Obreta said.

Furthermore, Obreta said the government violated their right to equal protection when it implemented a separate policy for sea-based manning and its counterpart land-based recruitment agencies.

He said these unfair policies include the following provisions: manning agencies are burdened with “joint and several” liability for acts covered by the law; bilateral agreements for the benefit of land-based OFWs were not applied to sea-based OFWs; land-based OFWs are considered self-employed, while seabased ones are considered employed by

Angat. . .

Continued from A1

El Niño, David said, will continue to affect the weather systems. Moreover,theNWRBciteda weather bureau forecast that heavy rainfall is highly unlikely this week due to a monsoon break in the country.

“It is estimated that water elevation in the reservoir will breach the low-level mark of 160 meters by the third week of June 2019

DTI. . .

Continued from A1

“Yes, we will hold all prices and not increase,” Laurel told the BusinessMirror.

The President, in approving EO 82, said the present economic condition warrants the continued application of lower tariffs on certain farm products to avert potential price hikes. He also said the National Economic and Development Authority Board recommended the retention of reduced rate on MDM. On the other hand, Laban Konsyumer Inc.

Recto Bank. . .

Continued from A8

He noted initial action was undertaken by the Philippine government, with the filing of a strongly-worded diplomatic protest that was handed over to the Deputy Chief of Mission of the Chinese Government on June 13.

“The objective of the [cluster] meeting was twofold: the protection of our countrymen and the exercise of our nation’s rights in our Exclusive Economic Zone,” Nograles said in a separate statement.

Piñol’s mandate MEANWHILE, Nograles said Agriculture Secretary Emmanuel F. Piñol was designated chairman of the government response team focused on assisting the 22 affected fishermen while Region 4B CORDS-Mimaropa and Energy Secretary Alfonso G. Cusi was assigned as the colead.

manning agencies.

Finally, Obreta said the SSA is “unconstitutional” for impairing the provisions of their two-year collective bargaining agreements entered into in January 2019.

JMG filed a petition for Certiorari before the Supreme Court on Monday, citing these reasons in an attempt to defer the implementation for the SSA. The Associated Marine Officers’ and Seamen’s Union of the Philippines (Amosup) Executive Vice President Eduardo Santos agreed with JMG’s effort to delay the implementation of SSA. “Our suggestion is to defer the implementation [of the new policy] since it will be difficult to enforce as far as the administrative factor is concerned,” Santos said.

Deployment complication

LAND-BASED OFWs, however, are also against the provision of the SSA for making SSS premium payments a requirement for the issuance of overseas employment certificate. An OEC is a mandatory document issued by the Philippine Overseas Employment Administration (POEA) to allow Filipinos to work abroad.

Philippine Association of Service Exporters Inc. (Pasei) Vice President Raquel Bracero said they are against the policy especially for newly hired OFWs since they will be made to shell out funds for their SSS coverage even before they could start their work abroad.

In a text message to the BusinessMirror, POEA Administrator Bernard P. Olalia said they will not be implementing the “no payment, no OEC” policy for now even with the implementation of SSA IRR. He said the POEA executives will be meeting on June 29 to discuss how to implement the said policy.

“The SSS topic is one of the issues that will be taken up in the POEA directorate meeting,” Olalia said.

Remedial measure

BLAS F. OPLE Policy Center, JMG, Pasei and other stakeholders renewed their appeal for the government to defer the mandatory premium collection until all of the issues they raised are addressed.

Ople directed their appeal to President Duterte, to the Social Security Board, and lawmakers. “We also plan to reach out to the chairperson of the Senate and the House committee on health for the SSS Law for what we deemed urgent and necessary amendment to the law. This will be the path we will take,” Ople said.

If their appeal is left unheeded, she said they will also be considering filing more cases against the SSA before the courts.

if the prevailing conditions in Angat Dam persist and no sufficient rainfall is received [at Angat] watershed, considering the current rate of decline in water elevation,” the NWRB said.The level is considered critical for domestic water supply.

According to Sevillo, in this scenario, several measures will be undertaken to manage the remaining water, including the operationalization of the Angat Dam Low Level Outlet (LLO), the bottom channel capable of releasing water below 160 meters.

President Victorio Mario A. Dimagiba said the government should refund meat processors and importers who paid the higher tariff of 40 percent.

“Customs issued a circular that imposed 40percent tariff on MDM imports that entered the Philippines after the rice tariff law was signed. This circular should be revoked because this could be used by meat manufacturers as a reason to demand for one good round of price increase,” Dimagiba said over the phone.

“Customs, if it has collected any, should return the money to the meat importers,” he added.

Piñol said the DA will provide 11 fiberglass boats to every two families of the crew so they could have an alternative livelihood while their salvaged boat is still being repaired.

The fishermen will also each get a P25,000 loan with no collateral and zero interest, payable in three years.

Piñol called Richard Blaza, the cook of the F/B Gemver 1, which sank last June 9, on Monday to personally learn what really transpired. He presented Blaza to the media.

The agriculture chief said he would not also discourage fishermen from going back to the Recto Bank and its nearby waters since it is part of the country’s territory. “There’s no reason for us to tell our Filipino fishermen to stop what they are doing. Assessing on and basing on the statement of the witness, we consider this as an isolated incident,” Piñol told reporters in an interview. With Jasper Emmanuel Y. Arcalas

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The Nation BusinessMirror

Suspected DI terrorists arrested in Quezon City

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WO Muslim converts who may have participated in the Marawi siege were arrested by police authorities over the weekend in Quezon City, after they went to Metro Manila from Sulu for reasons the police would like to dig deeper.

Arnel F. Cabintoy, alias Abu Mus’Ab, and Feliciano Sulayao, alias Abu Muslim, suspected members of the local Islamic terrorist group Daulah Islamiyah (DI), were arrested on Saturday at the Salaam Compound, in Tandang Sora, Quezon City.

The two Muslim converts have been under surveillance even before they went to Quezon City, according to Philippine National Police (PNP) chief Director General Oscar Albayalde.

“Their purpose in Metro Manila is still being investigated,” said Albayalde, who announced the arrest on Monday.

The duo were bagged by a composite team of police operatives from the PNP Intelligence Group, Quezon City Police District and Regional Intelligence Group of the National Capital Region Police Office.

Albayalde said that Cabintoy and Sulayao were part of a group that have acted as among the “support groups” during the siege of Marawi City in 2017 by the DI, led by Isnilon Hapilon, Southeast Asia’s emir of the Islamic State who was killed during the rebellion. “[They are] both Islam converts, [Balik Islam, and had]…joined the Daulah Islamiyah Philippines under

“These people were already under surveillance even while they are hiding in Mindanao, that’s why they were monitored upon their arrival here in Metro Manila. We believe they have a purpose why they are in Metro Manila.”

—Albayalde

Hatib Hajan Sawadjaan, who has since assumed the leadership of the terrorist group upon the death of Isnilon Hapilon at the height of the fighting in Marawi City,” said Albayalde.

“Cabintoy and Sulayao are the subjects of an Order of Apprehension of Personalities Involved in the Rebellion in Mindanao, issued by the secretary of National Defense, who is administrator of the martial law in Mindanao, that remains in effect until the end of 2019, as ratified by the joint houses of Congress,” he added.

The PNP chief said that the presence of the two in Metro Manila is being investigated, adding they would not be in Quezon City without any purpose.

“These people were already under surveillance even while they are hiding in Mindanao, that’s why they were monitored upon their arrival here in Metro Manila. We believe they have a purpose why they are in Metro Manila,” he said. Rene Acosta

Editor: Vittorio V. Vitug • Tuesday, June 18, 2019 A3

PNP and SEC wage joint nationwide ‘war’ vs pyramiding, investment scams

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By Rene Acosta

@reneacostaBM

HE Philippine National Police (PNP) said on Monday that it has been serving search warrants on offices of other companies tagged as “pyramiding firms” engaged in “investment scam,” in tandem with the Securities and Exchange Commission (SEC) to rid the country of get-rich-quick money schemes.

“We are doing it nationwide.

So far, we have served search warrants on 15 establishments,” said Maj. Gen. Amador Corpus, director of the PNP-Criminal I nvest igat ion a nd Detec t ion Group (CIDG), on the police’s continuing operations against pyramiding companies in a campaign that was fueled by the financial case of Kapa Ministry being handled by the National Bureau of Investigation.

Corpus identified two of these companies whose offices were

among those raided or served with warrants as Organico and Regen, where documents and other papers were seized. No personnel were arrested, as the offices are already closed. The raids were carried out in the company of SEC officials.

The CIDG director said that it would be SEC that would file the charges against the firms, and the police would just assist the agency in gathering evidence.

“As of now, the SEC and other law-enforcement units are pre-

paring documents for the filing of appropriate cases against all these investment scam companies. Most of these companies have permits, that is why the SEC went with us during the operations,” he said.

“They have permits from the SEC as a corporation. The violation mostly is secondary permit [which is] the sale of securities,” Corpus added.

PNP chief Director General Oscar D. Albayalde said the government is determined to end the operations of pyramiding scams in the country backed by an aggressive information dissemination and awareness campaign. “ The problem after the closure is there might be some com-

panies that will come out, other firms. So what is important is the education, the level of awareness by Filipinos that nothing can offer this kind of [or amount] return…,”Albayalde said.

“Even a businessman would say it’s quite impossible to provide 15percent up to 400-percent interest monthly on money that you would invest,” he added.

Brig. Gen. Ferdinand Divina, deputy director of the PNP-Directorate for Intelligence, said the operations against investment scams have taken the PNP in Regions 2, 7, 8, 11 and 13.

“You could just see that we are carrying out this operation nationwide because this is really a concern,” he said.

As of now, the SEC and other law-enforcement units are preparing documents for the filing of appropriate cases against all these investment scam companies. Most of these companies have permits, that is why the SEC went with us during the operations.”—Corpus

A4 Tuesday, June 18, Tuesday,June June 11, 18, 2019 A4 Tuesday,

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Editor: Vittorio V. Vitug • Tuesday, June 18, 2019 A5

Indonesia tells PHL: Reconsider trade measure on coffee imports

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By Jasper Emmanuel Y. Arcalas

@jearcalas

AKARTA is urging Manila to reconsider its special safeguard duty (SSG) on coffee imports as Indonesia is set to raise before a World Trade Organization (WTO) committee transparency concerns over the Philippines’s imposition of the trade measure.

Indonesia has tabled a document for discussion for the upcoming WTO Committee on Agriculture (COA) meeting concerning the Philippines’s imposition of SSG on imported instant coffee and other coffee extracts.

In a communication dated June 14, Indonesia disclosed that they did their own analysis to verify the accuracy of the trigger price notified by the Philippines to the WTO on the concerned imported coffee products.

Using “publicly available” Philippine data, Indonesia said it found out that the Philippines’s notified trigger price “has far exceeded the correct average price of imports of instant coffee and extract coffee” as determined by pertinent WTO legal texts.

Under the WTO Agreement on Agriculture (AOA), the trigger price SSG shall be determined by the average imported price of the commodity from 1986 to 1988.

Indonesia submitted the document to the WTO-COA “for the purpose of a discussion.”

“Based on Article 18.7 of the WTO Agreement on Agriculture, Indonesia presents this information to other members in the interest of promoting transparency surrounding the Philippines’s trigger price on instant coffee and extracts of coffee,” the communication, a copy of which was obtained by the BusinessMirror, read.

In its analysis, Indonesia said the Philippines was unable to take into consideration the imported coffee products in the year 1988 in computing its trigger price.

Indonesia argued that publicly available Philippine import data showed that it imported instant coffee and coffee extracts in 1988 and not only in 1986 as claimed by the Philippines.

Due to this, Indonesia explained that the Philippines’s trigger price for the concerned coffee products should averaged at P154.85 per kilogram and not P203.74 per kilogram, which is Manila’s notified trigger price.

Data prov ided by Indonesia

showed that the imported price of instant coffee and coffee extracts in 1986 was at P203.51 per kilogram, while in 1988 it was estimated at P106.10 per kilogram.

Indonesia disclosed that its exports of instant coffee and coffee extracts to the Philippines in 2018 has been “adversely affected” in due to the latter’s imposition of the SSG. Indonesia said “it urgently raises its findings and comments” on the Philippines’s trigger price before the WTO-COA since it has “substantial interest in the application of SSG by the Philippines.”

“In light of this important findings, the present Philippines’s trigger price has far exceeded the correct trigger price and, in order to be consistent with the AOA, correction to the existing trigger price of instant coffee and extracts of coffee as per WTO notifications by the Philippines is required,” Indonesia said.

“As one of main exporters of this product category, Indonesia expects that the Philippines will seriously consider our findings on this important matter,” it added.

Nonetheless, Jakarta said “it looks forward to having a productive discussion on the correct determination of the Philippines’s trigger price of instant coffee and extracts of coffee to ensure its consistency with the AOA.” The Philippines has explained in previous WTO-COA meetings that it did not import any instant coffee and coffee extracts from 1987 to 1988, hence, resulting in only one reference period for its trigger price which is 1986.

“There was neither any com-

mercial importation in 1987 nor in 1998 of the concerned products; hence, the mathematical calculation for arriving at the trigger price of P203.74 for these products only covered the import and price data in 1986,” the Philippines explained in the September 25th WTO-COA meeting last year.

Furthermore, the Philippines argued that it subjected the trigger price of instant coffee and coffee extracts “to the required public notices and public hearings/consultations” under relevant domestic laws “prior to its WTO notification and implementation of the SSG.” The country’s instant coffee (HS Code 21011110) imports in 2018 fell by nearly 70 percent to 28,402.231 metric tons, from 93,696.938 MT in 2017, Philippine Statistics Authority (PSA) data showed.

PSA data showed that Indonesia accounted for 60.64 percent of the total imported instant coffee last year. But Jakarta’s instant coffee shipments to the Philippines in 2018 declined by 68.47 percent to 17,225.675 MT, from 54,642.533 MT in 2017.

PSA data also showed that the country’s importation of preparations with a basis of extracts, essences, or concentrates or with a basis of coffee (HS Code 21011200) in 2018 doubled to 213,729.286 MT, from 106,017.816 MT in 2017.

Indonesia was the top supplier of the coffee extract as it accounted for 80.93 percent of the total imports. Jakarta exported 172,978.890 MT of coffee extracts in 2018 versus the 100,474.32 MT recorded in 2017.

Automated compliance here we come…

R

By Henry J. Schumacher

sort employee groups and training material to effectively assign the right training to the right employees. Employ an integrated platform to track group training results and to send automated notifications to employees that haven’t completed their training.

EGULATORS around the world continue to expand their focus on enforcing anti-corruption, data privacy and environmental laws.

At the same time, prosecutors are stressing that self-reporting, cooperation, and remediation actions from corporations may be rewarded with extensive leniency, or even a declination, to prosecute matters altogether.

However, prosecutors have high expectations of compliance programs that corporations struggle to meet, unless they take advantage of automation that enables tracking all compliance activities in one place.

Considering these factors, the business case for an automated compliance program has never been stronger. It highlights the essential role automation has in creating cutting-edge compliance programs.

Building blocks of an automated compliance program

A COMPLIANCE program needs to be tailored to the specific needs of the business. In other words, no one size fits all compliance program out there can address the specific needs of your organization. A compliance program should correspond to your company’s risk areas, size, resources, industry segment, business locations, etc. Taking advantage of automation will make running a compliance program significantly easier. While you will still need to carefully consider how to structure your compliance program and processes, automation will significantly decrease your workload by taking care of some of the more mundane tasks and give you valuable insight into your data at a glance.

The building blocks

Risk management Policy management, code of conduct and conflicts of interest Due diligence Training Whistle-blower hot line and case management Reporting and monitoring.

Assess your risks in 3 steps

AFTER you have finished assessing these questions it is time to start building your risk assess-

Structuring reporting

A ROBUST reporting system needs to provide you with a complete picture of activity. A strong advantage of automated compliance programs is that they will capture as much data as possible and subsequently consolidate that information in an accurate and useful way. An automated compliance solution can provide you with readymade reports of all compliance activity. Once that reporting material is created, it can easily be forwarded to the appropriate executives for review. When this process of data consolidation is established, broader trends of compliance activity can be monitored, while gaps can be detected and remedied. ment. Following the three steps below will help you to structurally assess your risks, identify weaknesses, and allocate compliance resources according to areas of the business that are most at risk.

Step 1: Survey which risks the business faces.

Step 2: Assess to which extent existing internal controls in the business mitigate the risks identified.

Step 3: Prioritize the risks identified in the previous steps.

Consider framing risk in your report by the likelihood it will occur and the impact it will have on the business. Further, consider to what extent the internal controls identified in Step 2 already mitigate the risk. Using these measures will allow you to correctly allocate resources to mitigate the most pressing risks.

Automate policy management and exception requests

THE code of conduct and your other policies should not be static, as they are documents that employees frequently interact with. Policy management and exception requests technology strengthens the compliance program by centralizing the data you need to measure the effectiveness of your policies.

Delivering the training

AUTOMATED training solutions can help you

Support your processes with technology

MANUAL processes are the mortal enemy of good reporting and monitoring. Human error is a large area of concern because people may report data incorrectly, submit it twice, or simply not report it at all due to the confusion manual processes often create. This will result in an inaccurate and incomplete picture of your compliance activity. A technological solution can simplify reporting and monitoring processes and thereby reduce the chance of human error in the data collection process. The goal is to collect a continuous stream of data while reducing human intervention to a minimum. An end-to-end compliance platform can go a long way in making this a reality.

Final thoughts

A COMPLIANCE program is never a one-sizefits-all affair. In order to craft an automated program appropriate for your organization, it is essential to first understand the critical components of a program and then tailor each element to the specific needs of the business.

Technology is the backbone of any successful program, allowing your team to easily manage processes rather than getting bogged down in manual tasks.

If assistance in automation is needed, send me an e-mail at schumacher@eitsc.com.

A6 Tuesday, June 18, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Punish scammers, confiscate their loot

I

T’S unfortunate that thousands of Filipinos are still being victimized by financial scams despite the myriad of legitimate investment opportunities. Our personal finance columnists have written about these financial instruments, fully cognizant of people’s need for better returns on their money, since the measly interest of their bank deposits can easily be wiped out by inflation.

Banks, insurance firms and other financial institutions, for some time now, have been offering investment products with good returns. On the other hand, entrepreneurs can choose to invest in small franchises and other small businesses, or invest in the stock market.

The Philippine Stock Exchange has been broadening public participation in the stock market. It expanded its trading hours and for several years now has been running an Internet-based trading platform to draw more retail investors and boost volume trading. It has also been conducting seminars and workshops for ordinary investors.

In other words, Filipinos have better ways of investing their savings. However, many people still fall prey to scammers who promise the impossible, usually more than three times their initial investments within months.

In June alone, authorities in the Davao region have shut down 14 investment companies offering extraordinary returns similar to Ponzi schemes and are investigating 39 more.

The regional police and five other government agencies have set up the Inter-Agency Task Force to prevent fraudulent investment schemes, which include the Securities and Exchange Commission ([SEC] as lead agency) and the Bangko Sentral ng Pilipinas.

The SEC has issued an advisory, warning people of bogus investment schemes, which “ordinarily collapse as fast as they are created while leaving investors behind, unable to recoup their investments.”

The SEC reminded the public that the sale of securities without a permit or license from the SEC is a violation of the Securities Regulation Code.

The SEC said the recruitment of investors or “members under the guise of sponsoring a person into the system is, likewise, considered a form of investment solicitation or a sale of securities.”

The biggest among the Ponzi scammers that the SEC had recently shut down was the Kapa (Kapa Ministry International Inc.) operation, which, according to the agency, had been offering and selling securities in the form of investment contracts without license and had pooled about P50 billion from around 5 million of its members.

While we commend the vigilance undertaken in shutting down these scams, we hope that local authorities and financial regulators, working with law enforcement officers, can also promptly freeze and seize the illicit gains made by the scammers so they can be prevented from absconding with the money, which can be returned to their victims.

In the late 1990s, Pepito Villarosa and his deputy Joselito Le or Le Van Thai of VilSur Corp., simply packed up and fled (reportedly to the US) after duping investors of hundreds of millions of pesos with their investment scam.

Not one centavo was returned notwithstanding the fact that we have an extradition treaty with the US for such crime.

In 2012, the death of Celso de los Angeles, the founder of the Legacy Group of Co. that collapsed in 2009 amid allegations of Ponzi-like operations, leaving behind a P30 billion financial mess, extinguished his criminal liability.

Manuel Amalillo, a Filipino of Malaysian descent who duped some 15,000 mostly Muslim Filipinos of P12 billion through his Aman Futures Phils., is reportedly living safely in Malaysia and has not returned a single centavo he is accused of stealing.

There are so many other sorry examples of scammers who got away with their loot and left their victims living shattered lives. This is probably why more scammers are bold enough to operate in this country.

Since 2005

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

THE ENTREPRENEUR

T

HE government and private economists in general are one in saying that the Philippine economy is bracing for a vigorous expansion in the next three quarters of the year. I couldn’t agree more.

Our economic managers have kept the macroeconomic fundamentals strong to support growth despite the blip in the inflation rate in the latter part of 2018. Economic data that have trickled in lately show a positive trend and indicate a robust expansion.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, while aware of the external risks on the economy stemming mainly from the US-China trade tensions, is himself optimistic on the growth prospects of the Philippines. Keeping our house in order, he says, remains the first and best line of defense.

Diokno, in a recent speech, said the Philippines was “improving economic openness through liberalization of trade and foreign direct investment” and “enhancing external competitiveness by strengthening domestic industries.”

“We are diversifying products and markets to nontraditional growing economies; and we are

sustaining domestic economic resilience by building adequate buffers,” adds the BSP governor.

Diokno believes the Philippines will weather the US-China trade war, given that the economy’s growth is mainly driven by domestic demand. The Central Bank governor drove the point home here. I expect strong household demand in the succeeding quarters to fuel economic growth, now that the uncertainty caused by higher inflation has worn off. President Duterte’s “Build, Build, Build” infrastructure program will continue to create jobs and increase consumer spending in the process.

The Philippines, among the Asean-5 economies, will continue to register one of the strongest expansions in the region. The International Monetary Fund expects growth at 6.6 percent, while the Asian Development Bank and the World Bank both see it at 6.4 percent. Diokno also believes the Philippines will continue to outpace Indonesia, Malaysia and

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Thailand this year.

Private economists, meanwhile, are equally upbeat on the growth prospects, expecting a strong rebound in the second quarter from a 5.6-percent expansion in the first quarter. Economists from First Metro Investment Corp. and University of Asia and the Pacific agree in a joint report that robust investments, consumer spending after the midterm elections and the benign inflation rate would support stronger expansion in the second quarter.

The first-quarter gross domestic product (GDP) growth might be slightly off target, but the private economists believe the economy will be back on a fast growth path in the second half.

“Investment spending should continue to lead GDP growth, as durable equipment investments have kept a steady growth pace [even prior to the BSP moves], which we expect to accelerate starting the second quarter not only with election spending but also with a higher bounce in infrastructure and other government spending,” the economists said in the report.

The BSP has trimmed the reserve requirements of universal and commercial banks by a total of 2 percentage points, a move that will release about P190 billion in additional peso liquidity into the financial system.

The private economists noted that more liquidity would have been injected into the financial system starting in May after the BSP reduced the reserve requirement and

Understanding the Federal Reserve

Lourdes M. Fernandez

Ruben M. Cruz Jr. Angel R. Calso

MEMBER OF

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Online Editor Social Media Editor

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

PHL economy poised for a robust growth

OUTSIDE THE BOX

I

N October 1907, the United States experienced a near-collapse of the banking system that came to be known as the “Panic of 1907.” Similar to twenty-some years later, it was caused by the banks loaning too much money to buyers of a particular stock market issue—United Copper Co. However, the bank runs and failures, as well as corporate bankruptcies, were limited to the New York City area. Actually one other bank was affected, the State Savings Bank of Butte Montana, which was owned by the same person who owned United Copper Co. and the brother of the man whose stock manipulation caused the “Panic of 1907.”

When banks loan money to buy shares and the share price collapses for whatever reason, the banks face a liquidity crisis, which, in turn, causes a depositor run on the bank, which creates a greater liquidity crisis. While many financial institutions died from their own mismanagement in 2007

and 2008, the US did not experience a catastrophic bank run because of the US Federal Reserve.

The Panic of 1907 ended when John Pierpont (JP) Morgan Sr. put together a deal with the government and other wealthy industrialists and financiers like John D. Rockefeller.

The next bank in New York to face a depositor pullout, and that was also financially sound otherwise, would be funded with deposits to provide enough cash to pay all worried depositors. The bank runs ended and the panic was abetted. In the aftermath came the formation of the US Federal Reserve.

In 1994, author G. Edward

Griffin wrote a book—The Creature from Jekyll Island—that describes how the creation of the US Federal Reserve was a plot to build an instrument for the banking cartel to control the US economy and government. Griffin never met a conspiracy theory that he did not love and could make money from promoting. He asserts that cancer is caused by a lack of amygdalin in the diet, sort of like a vitamin C deficiency, causing scurvy. He denies that the human immunodeficiency virus exists and that acquired immune deficiency syndrome is actually caused by the antiretroviral drugs used to treat AIDS patients.

The bankers proposed the Federal Reserve System to be a bankfunded “central bank” to provide funding to avoid another liquidity panic of 1907. Twelve Federal Reserve Banks were to be set up around the nation to provide local bank liquidity as necessary. The original design of the Fed was to be private, for banks were to contribute to fund their own bailouts.

The election of Democrat Party candidate Woodrow Wilson to the presidency in 1912 and Democrat control of both the Senate and the House of Representatives saw the Fed removed from the hands of

the policy rates.

Two key economic figures lately have supported the projected robust economic expansion in the next three quarters of 2019. The Board of Investments reported last week that it approved P290.6 billion worth of investment commitments in the first five months of the year, up 40 percent from P207.5 billion year-on-year.

Foreign investment pledges soared to P67 billion in the five-month period from just P6.9 billion a year ago, while domestic commitments increased to P223.5 billion from P200.5 billion. These figures will foretell the economic activities in the short- and medium-term periods as investors start to build their projects and employ more Filipino workers.

The recent successful trade mission to Japan led by President Duterte and his economic managers has boosted the investment climate after the Philippine government attracted nearly P300 billion in trade deals, business expansion and letter of intents from Japanese companies.

The deals are expected to create over 80,000 jobs in the Philippines.

International tourist arrivals in April, on the other hand, reached 662,987, up 12 percent from over 591,137 visitors year-on-year. Tourism directly creates jobs, especially in resort areas outside of the metropolis. Foreign tourists also drive the economy and boost rural incomes.

For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

those “evil bankers” and made a part of the government.

From a local “financial fire department,” the Fed became a taxpayerfunded central bank with immense economic and money power that is controlled by the government.

The Republican Party—supposedly owned by the bankers—was virtually unanimous in opposition, anticipating exactly what the Fed has become: a taxpayer paid bailout fund and unlimited profit making machine for the banks.

Because of the Fed mandate and objectives—written by politicians— it has become one of the most powerful political tools ever developed. In fact, it is probably right behind throwing your political opponents into a swimming pool filled with piranhas.

The first major central bank—the Bank of England—was established in 1694 as a private entity to gather funds to loan to the government and to control the issuance of money.

Central banks were a great idea until the government took control.

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

Opinion BusinessMirror

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Record number of African migrants Turning waste into gold coming to Mexican border

By Andrew Selsky & Patrick Whittle

Manny F. Dooc

The Associated Press

P

ORTLAND, Maine—Undaunted by a dangerous journey over thousands of miles, people fleeing economic hardship and human-rights abuses in African countries are coming to the US-Mexico border in unprecedented numbers, surprising Border Patrol agents more accustomed to Spanish-speaking migrants.

Officials in Texas and even Maine are scrambling to absorb the sharp increase in African migrants. They are coming to America after flying across the Atlantic Ocean to South America, and then embarking on an often-harrowing overland journey.

In one recent week, agents in the Border Patrol’s Del Rio sector stopped more than 500 African migrants found walking in separate groups along the arid land after splashing across the Rio Grande, children in tow.

That is more than double the total of 211 African migrants who were detained by the Border Patrol along the entire 2,000-mile (3,200-kilometer) USMexico border in the 2018 fiscal year.

“We are continuing to see a rise in apprehensions of immigrants from countries not normally encountered in our area,” said Raul Ortiz, head of the U Border Patrol’s Del Rio sector.

The immigrants in Texas were mostly from the Republic of the Congo, the Democratic Republic of the Congo and Angola. Cameroonians have also been traveling up through Mexico and into the US in larger numbers and seeking asylum at ports of entry.

On recent Saturday in Tijuana, there were 90 Cameroonians lined up to get on a waiting list to request asylum that has swelled to about 7,500 names. Also on the waiting list are Ethiopians, Eritreans, Mauritanians, Sudanese and Congolese.

Cameroonians generally fly to Ecuador because no visa is required and take about four months to reach Tijuana. They walk for days in Panama through dense jungle, where they are often robbed and held in governmentrun camps. They come from Cameroon’s English-speaking south with horrifying stories of rape, murder and torture committed since late 2016 by soldiers of the country’s French-speaking majority, which holds power.

A few days after the big groups of African immigrants were apprehended in Texas, federal officials dropped off dozens of them in San Antonio. Officials in the Texas city sent out a plea for Frenchspeaking volunteers for translating work “and most important, making our guests feel welcome.”

Many were bused to Portland, Maine, about as far as one can get from the Mexican border and still be in the continental United States. Word has spread among migrants that the city of 67,000 is a welcoming place. Somali refugees were resettled in Portland in the 1990s.

A total of 170 asylum seekers arrived in recent days. Hundreds more are expected in an influx that City Manager Jon Jennings called unprecedented.

With one shelter already full, a basketball venue called the Portland Exposition Building was converted into an emergency shelter.

Portland officials tweeted on

Thursday that rumors that some of the migrants are carrying the Ebola virus “are patently false,” and said that as asylum seekers, they are in the United States legally.

On Thursday afternoon, families in the Expo chatted in French and Portuguese as children kicked a soccer ball near rows of cots. One of the men, 26-yearold Prince Pombo, described himself as a pro-democracy activist and said he had fled his native country, the Democratic Republic of Congo, because of political oppression. He went to neighboring Angola, then flew to Brazil. There, he met a local woman and they had a baby they named Heaven. Now 16-months old, she giggled as she played with her mother in the Expo. Pombo said his journey from Congo to America took three years.

More migrants are on the way. Mexico is on pace to triple the number of African immigrants it is processing this year, up from 2,100 in 2017.

Mbi Deric Ambi, from the Englishspeaking part of Cameroon, is among them. In a recent interview in the southern Mexican city of Tapachula, Ambi said he was waiting for a document from the Mexican authorities that would allow him to proceed north to the US. He traveled overland through South and Central America after flying to Ecuador.

Human Rights Watch says 1,800 people have been killed and half a million have fled their homes in the Anglophone regions of Cameroon since late 2016. A United Nations official says 4.3 million people need humanitarian assistance.

“We don’t have jobs in the English part, the educational system is poor, they are looking at us as dogs,” Ambi said as a crowd of migrants jostled outside an immigration center in Tapachula, waiting for their names to be called to collect their travel document. Ambi has been waiting every morning for six weeks.

“We just have to be patient, because there is nothing we can do,” he said.

The explosion in immigration to the United States from sub-Saharan Africa coincides with a steep drop in the migration flow across the Mediterranean to Europe after European countries and two main embarkation points—Turkey and Libya—decided to crack down. From January 1 to June 12, only 24,600 migrants arrived in Europe by sea, compared to 99,600 over the same period in 2017, according to the International Organization for Migration (IOM).

But IOM Spokesman Joel Millman doubts the migrant path for Africans has swung over from Europe to America.

Pombo, who was a teacher in Congo, learned in an Internet search and by asking around that Portland is good place for migrants. He said his next step is to start rebuilding a life for himself and his family.

“I’d like to feel safe. I’d like to build a decent life,” he said. “I need to start again.”

TELLTALES Continued from A1

T

HE Philippines’s pivot to China is a bold foreign policy adopted by the Duterte administration. Some experts have doubted its wisdom, and even considered it imprudent to distance us from our oldest and traditional ally, the US. Since Admiral Dewey’s navy subdued Admiral Montojo’s naval fleet in Manila Bay, our foreign policy position has always been aligned with the Americans. In fact, it has been aptly observed that our foreign policy is just the tail of the American kite.

Bloomberg Opinion

P

RESIDENT Donald J. Trump called CNBC this week to offer grudging praise to the European Union—not something that happens every day. He suggested the US should follow the example of Brussels’s “fantastic” bureaucrats in hitting the likes of Alphabet Inc.’s Google and Facebook Inc. with antitrust investigations and fines.

Unsurprisingly, it wasn’t the details of competition law that were uppermost in Trump’s mind, rather the sheer dollar amount being squeezed out of American companies for Europeans’ benefit. “Easy money,” he said admiringly.

Yet, the president seems to have missed the point of the EU’s assault

on Silicon Valley and Seattle. The big fines may grab the attention, but it’s the argument over who gets to profit from all of the world’s data that’s really driving the strategy in Brussels. And if data is indeed the new oil, then America and Europe are probably headed for a resource war.

The recent billion-dollar fines inflicted on Google and Apple Inc.

by Europe’s top antitrust official, Margrethe Vestager, should just be seen as an opening salvo. Europe’s bigger ambition is to tackle the way tech platforms hoard the user data that makes their businesses so lucrative, whether through the selling of advertising or other services like shopping. This isn’t just about improving privacy and security for Internet users; it’s about sharing

to reap the benefits of having a cozy relationship with the powerful Asian giant. The China pivot has also netted us economic gains. Aside from the expanding relations between the Philippines and China, which saw substantial Chinese investments in our country, highly noticeable are the recent benevolent gestures of both the US and Japan, which have been liberal in granting us economic and military assistance like the financial package given to PRRD during his recent visit to Japan. It seems that such generous acts were part of their government’s initiatives to neutralize China’s growing global influence.

It now seems that PRRD’s pivot to China has proven to be an original and wise move. nnn

Initially, no other country in our region has followed a similar stance.

We have been alone in favoring China over the US. The President has been mincing no words in expressing his disgust against the US, Canada and its European allies. Recently, Malaysian Prime Minister Mahathir Mohamad is seen pivoting to China, as well. He acknowledged that countries should learn how to deal with China

since it is a strong and very rich nation. He was also quoted as saying: “We have to accept that the US cannot forever be the supreme nation in the world that can have the best technology.” With the Road and Belt Initiative gaining greater momentum, China’s sphere of influence will expand as more countries sign up.

With this development, more and more countries will pivot to China

ONE remarkable project that’s worth mentioning is the recent partnership between the Department of Environment and Natural Resources and the Metro Pacific Investment Corp. to rehabilitate the dirtiest “esteros” in Manila. An MOU was signed by the two entities undertaking “to clean up the esteros, assess their water quality and identify sources of

This column repeats its warning Cecilio T. Arillo

DATABASE

L

ET this column repeat the warning it issued on May 16 that unless the government stops logging in the Angat Dam watershed, orders its immediate reforestation and cleans the heavily silted dam, Metro Manila residents will surely suffer again a severe water shortage and a possible deadly flooding in the coming rainy days.

If this warning continues to be ignored and a disaster happens, then let it be on the conscience of the concerned authorities, which, for sure, will hound them forever.

On June 14, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said the water level at Angat Dam reached its lowest level in five years and may even further decline in nine to 10 days.

The dam’s original 217-meter water level is now only 85 meters, thus depriving Metro Manila the equivalent of 132 meters deep of reserved water as a result of siltation and unabated logging.

The Dam’s aqueduct was supposed to allow unhampered water flow of 22 CMS (cubic meters per second) to La Mesa Dam and, thus, supply the water requirements of Metro Manila and the adjacent provinces of Bulacan, Pampanga and Nueva Ecija.

The dam’s original 62,000 hectares reservation includes parts of Bulacan, Pampanga, Nueva Ecija and the Sierra Madre Mountain. If reports are accurate, what remains of the dam’s reservation is only about 25,000 hectares.

The National Association of Lawyers for Justice and Peace (NALJP) and The Confederation of Government Employees Organization (Cogeo), headed by Atty. Jesus I. Santos, wrote to Environment Secretary Roy Cimatu, of the Department of the Environment and Natural Resources (DENR), bringing to his attention the problem of water shortage, the unabated logging of the Angat Dam watershed and the continued siltation of the water reservoir.

In his letter to Cimatu, Santos cited in detail the destructive logging in the Angat watershed, the siltation of the dam’s water reservoir, and the death and destruction due to flooding, which was proven in a Senate investigation on the complaint of the NALJP. Angat Dam Watershed was then a Virgin Forest.

Sometimes after the declaration of martial law, a close kin of former President Marcos sent two engineering battalions to Angat to cut high-class trees, including Lawaan, Kamagong and other expensive varieties.

In reaction, President Marcos

Donald Trump’s next big trade war will be data

By Lionel Laurent

Tuesday, June 18, 2019 A7

the spoils from their data more fairly. If Brussels is successful, it would have a much more profound impact on the revenues of the tech giants than the occasional multibillion dollar fine.

This question of who gets to profit from the so-called digital dividend—the monetization of the data from social media, search engine results, and online marketplaces—might well be the central political battle for tech firms in the coming years.

Google, in particular, is front of mind for European officials. Over the past decade, it has scanned Europe’s literature, its art, its city street, and its citizens’ deepest desires. It’s been forced to destroy or mothball some of that data, but the company’s ability to keep hoovering

So while Trump may chuckle at Europe using America’s tech champions as an ATM, he will balk at what comes next: A Europe that wants to take back control of its data.

The US is unlikely to concede without a fight. up the world’s information is undiminished. The question in Brussels is whether the financial benefits should accrue only to Google and its ilk.

EU officials are toying with several potential measures. Some argue that users should be able to own their data in some way and profit directly from selling it back to the

pollution.” The DENR pledged “to take appropriate actions against establishments discharging untreated wastewater to prevent them from further poisoning the waterways.” The MPIC has agreed to fund the project and lead the mobilization of the communities to participate in the cleanup activities. After the rehabilitation of Boracay and the ongoing massive cleanup of Manila Bay, the successful implementation of the “estero cleanup project” will be another feather in the cap of DENR and its indefatigable head, Environment Secretary Roy Cimatu. Matched by an equally determined partner, Manuel V. Pangilinan, the project may finally lead to the rehabilitation of the Pasig River and its tributaries, and restore life and commerce on the waterways. nnn

AFTER their debacle in the last elections, a highly partisan political observer summed up the chances of the opposition in the next election.

“With a very popular President, the opposition will not win unless things get worse, and things won’t get worse unless they get elected.”

ordered then-Defense Secretary Juan Ponce Enrile to immediately stop the cutting of trees in the watershed and the cancellation of the permit granted to his kin, thus stopping the degradation of the watershed.

Unfortunately, the next administration of President Corazon Cojuangco Aquino promulgated on July 16, 1987, Executive Order 224, empowering the National Power Corp. (NPC) to cut trees in the Angat reservation.

It was then that the sad story of the Angat Dam watershed began to unravel in 1989 when the NPC brazenly issued permits to cut trees in the Angat Dam reservation that saw the destruction of the watershed.

Because of the massive denudation, the dam is now terribly silted due to landslides and rampaging volumes of floodwater and debris coming from the mountain.

Sometime in 1978, floodwaters cascaded down from the watershed, flooding large parts of Bulacan, Pampanga and Nueva Ecija, killing more than 300 people and destroying houses, poultries, piggeries and other valuables.

On February 22, 2018, the NALJP and the Cogeo wrote to call a meeting regarding the continuous illegal logging in the watershed. The DENR granted this meeting and the governor of Bulacan and the PNP area commander attended.

After this meeting, the DENR informed the group that there was a permit granted by the government to cut 26,000 trees but the DENR reduced it to 3,000 trees, based on a press release dated June 19, 2017.

The NALJP and Cogeo asked the DENR local director as to what actions were taken on the following:

“The tree cutting projects granted to Angat Hydropower Corp. and Dyke Rehabilitation Projects, which was contained in a letter dated April 27, 2017.”

“What happened to the 3,000 cut trees delivered to the compound of the controversial Hanjin Corp.?”

According to Director Francisco Milla of DENR Region 3, the 3,000 trees could only be taken out from the Hanjin compound with his consent.

Santos and the rest of his group never got a coherent answer.

What really surprised Santos and local officials is that instead of the national government stopping the denudation of the Angat watershed, it is, in fact, the one abetting the destruction of the watershed with NPC, in particular, issuing the permit to log the area.

The Angat watershed is mainly in the municipality of Doña Remedios Trinidad in Bulacan, with a smaller portion found within the municipality of Norzagaray, the Angat watershed has an original total land area of 65,707 hectares.

The water from the Angat Dam, where construction started in November 1961 and completed in July 1967, was supposed to run a 16-megawatt auxiliary generator and a 200-megawatt main generator to supply the power requirements of Metro Manila and the rest of Luzon.

The dam was also intended to irrigate 20 municipalities in Bulacan and Pampanga. The dam was also capable of irrigating an average area of 23,000 hectares during the wet season and 27,000 hectares during the dry season when the sluice gates were opened.

platforms. Others, such as Vestager herself, suggest the tech giants should share their data with rival companies and start-ups to improve competition.

The real temptation for European governments will be to ask either for a slice of the data revenue via special taxes or—more likely—for direct access to the data for use in public services. Think location information for mass transport systems, or medical data for health.

This would no doubt be derided as punitive protectionism by the US, but the Europeans would see it as just reward for their taxpayers’ heavy investment in research and telecoms infrastructure (on which the tech platforms have essentially taken a free ride).

Of course, plenty of Americans

will agree that tech’s “Big Brother” behavior needs to be curbed. But the backdrop of trade tensions between Brussels and Washington will make it harder to find common ground on issues like this. A new paper by Andrea Renda of the Center for European Policy Studies makes a convincing case that worries about cyber security and the future power of artificial intelligence are pushing countries to seek more power over data flows anyway, even at the cost of a less open Internet.

So while Trump may chuckle at Europe using America’s tech champions as an ATM, he will balk at what comes next: A Europe that wants to take back control of its data. The US is unlikely to concede without a fight.

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

2nd Front Page BusinessMirror

A8 Tuesday, June 18, 2019

www.businessmirror.com.ph

Duterte to await Recto Bank probe report P

By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte on Monday finally broke his silence on the alleged hit-and-run incident at Recto Bank involving a Chinese vessel and a Filipino fishing boat, as he rejected calls to send ships in the area—a move that he said would make the situation worse.

“That is a maritime incident.

Wag kayong maniwala sa pulitiko na bobo. Gusto papuntahin ang Navy [Don’t believe the politics of fools.

They want to send the Navy]. You do not send gray ships there. Banggaan lang ng barko ’yan [It’s just a collision of boats]. Do not make

it worse because that’s a fertile ground for…,” Duterte said in a speech during the 121st Philippine Navy Anniversary at Sangley Point in Cavite.

Duterte also defended his silence for a few days before speaking out on the issue.

“Maritime incident is a maritime incident. It is best investigated. And I do not issue [a] statement because there is no investigation and there is no result. Then the only thing we can do is to wait and give the other party the right to be

heard,” he said.

Days after the Chinese Embassy disputed the Filipino fishermen’s account of events on June 9 at Recto Bank and even after the Philippine government has already filed a diplomatic protest, Malacañang on Monday struck a cautious tone, citing the need to await the results of further investigation being conducted separately by China and the Philippines.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said it is im-

portant to know first what really transpired, given two versions of the incident, but denied that the Palace is casting doubt on the Filipino fishermen’s account.

“Not doubting but we want to know the facts since there is a contrary claim,” Panelo said in a briefing on Monday.

Cluster meeting

MEANWHILE, Cabinet Secretary Karlo Alexei B. Nograles on Monday said that what happened “appears to be an allision”—and not

collision—based on preliminary investigation.

Asked to clarify if this means the Chinese side did not deliberately ram the Filipino boat, Nograles told the BusinessMirror: “We cannot jump to that conclusion. That has not been established.”

Nograles’s remarks followed a joint meeting of the Economic Development and Security, Justice and Peace clusters on Monday to tackle issues on the Recto Bank incident.

See “Recto Bank,” A2

Customs launches 6 computer Oil prices DEATHS DIP FIRST TIME after IN A DECADE–P.S.A. DATA systems to cut red tape, graft rise 3 rollbacks

By Rea Cu

T

@ReaCuBM

HE Bureau of Customs (BOC) launched on Monday six computer information programs in line with its modernization efforts, a move that is also seen to enhance the ease of doing business with the bureau and all ports nationwide.

During the BOC’s “Improved BOC: Seamless and Simplified” event on Monday at the Rizal Park Hotel, Customs Commissioner Rey Leonardo B. Guerrero said the modernization of its computer systems, which aims to eliminate or lessen human interaction in line with BOC processes, is also meant to cut the avenues for corruption. “[It’s impact on our anti-corruption drive is] really huge. You have to remember these are just systems developed in-house; this was done because we know that the modernization program takes time and resources to implement, but in

the meantime we cannot just say that we will put it on hold. So we have to initiate at our level and with the available resources we have, we came up with this in-house system to improve performance,” Guerrero said.

The BOC launched these programs: Customer Care Program to provide quick answers to inquiries submitted by stakeholders; Document Tracking System to efficiently track documents being processed in the different offices of the bureau; Goods Declaration and Verification System which is a queuing management system that enables the real-time tracking of goods by its stakeholders; National Value Verification System which serves as a guide for assessment personnel to determine the accuracy of the declared value of goods in shipments, enabling the bureau to collect accurate duties and taxes;

Alert Order Monitoring System to track the status of alert orders; and BOC Dashboard, a one-stop platform showing the real-time updates about the operations in the bureau and all ports nationwide.

“The system aims to improve the ease of doing business in the BOC which is part of the bureau’s 10-point priority program on the enhancement of the BOC information-technology system and cargo clearance process,” the BOC said.

The Customs chief explained that with the systems put in place, customs clearance, for example, can be processed in just around three hours if all documentary requirements are submitted.

“If complete requirements, in our time release study the Customs clearance can be done in three hours, from 1.5 to three hours, if requirements are complete. [And we can process] anywhere from 200 [applications],” Guerrero added.

By Cai U. Ordinario

L

OCAL pump prices are on the rise after three consecutive weeks of price rollback.

In separate announcements on Monday, oil companies said they would increase gasoline prices by P0.35 per liter, diesel by P0.20 per liter and kerosene by P0.20 per liter.

Seaoil Philippines, PetroGazz, Phoenix Petroleum Philippines, Pilipinas Shell, Total Philippines and PTT Philippines said the price increase will take effect 6 a.m. of Tuesday, June 18.

“This is to reflect movements in the international oil market,” they said.

Other oil firms are expected to announce their price adjustment on Monday night.

Prior to this week’s price increase, gasoline price went down by a total of P4.50 per liter, diesel and kerosene by P4.20 per liter, respectively. Lenie Lectura

See “Customs,” A2

Remittances. . .

Continued from A1

INTERTROPICAL CONVERGENCE ZONE AFFECTING MINDANAO as of 4:00 pm - June 17, 2019

The total cash remittances in the first four months of the year hit $9.74 billion—up 4.1 percent from the same four-month period last year.

Security Bank Chief Economist Dan Roces said the steady growth of remittances is a good indicator of the remittances’ overall health and contribution to the economy down the line.

“We attribute the growth to the cyclical nature of our remittances; April months usually have lower values compared with previous months as the post-graduation expenses of most households are done,” Roces said.

“Moreover, the year-on-year growth is proofpositive that overseas Filipino remittance flows continue to be a main contributor to household consumption as it maintains growth at a healthy pace. This steady stream of dollars continues to fund the peso’s purchasing power and assures household consumption; taken together with BPO [business-process outsourcing] flows, remittances also help to augment the continuing struggles of our export sector,” he added.

Broken down, the BSP said the continued growth in cash remittances was supported by the expansion of remittances in both landbased and sea-based Filipino migrant workers for the month.

In particular, sea-based workers sent $600 million in cash remittances during the month, growing 10.6 percent from what they sent in the same month last year. Land-based workers, meanwhile, sent $1.8 billion in April, growing by 2.2 percent from their level of remittances last year.

By country source, the US registered the highest share of overall remittances for January to April 2019 at 35.9 percent. It was followed by Saudi Arabia, Singapore, United Arab Emirates, the UK, Japan, Canada, Hong Kong, Qatar and Germany. The combined remittances from these countries accounted for 78 percent of total cash remittances from January to April 2019.

Just recently, the BSP announced that they are keeping their 3-percent assumption growth of remittances for 2019, thus leaving room for a slowdown in the coming quarters of the year.

In 2018, cash remittances posted an average growth of 3.1 percent, to hit $28.943 billion at year’s end. Bianca Cuaresma

@caiordinario

T

HE total number of Filipinos who died declined for the first time in a decade, according to the latest data released by the Philippine Statistics Authority (PSA).

Data showed that 579,237 men and women died in 2017, representing a contraction of 0.5 percent from the 582,183 who died in 2016.

Prior to 2017, the slowest growth in the number of deaths in the past 10 years was recorded in 2014 when the number of Filipinos who died posted a growth of only 0.9 percent.

The biggest increase in the number of deaths in the past decade, meanwhile, was recorded in 2015 at 4.4 percent.

The total number of deaths in 2017 was equivalent to a crude death rate (CDR) of 5.5, or about 6 persons per thousand population.

In 2017, an average of 1,587 persons died daily, which is equivalent to 66 deaths per hour or one death per minute.

“The number of deaths from 2008 to 2016 showed an increasing trend but slightly declined in 2017.

The increase during the 10-year period is about a quarter, or 25.5 percent, from 461,581 in 2008 to 579,237 in 2017,” PSA said.

‘Death-to-GDP’ ratio MEANWHILE, the regions that

accounted for the largest share of the country’s GDP were also the same ones that recorded the highest number of deaths in 2017.

The total deaths in Calabarzon, the National Capital Region (NCR), and Central Luzon together accounted for 39.4 percent of the total deaths in 2017. These three regions, using 2017 data, accounted for 62.9 percent of the country’s GDP. In Calabarzon there were 84,971 deaths or 14.7 percent of the total followed by NCR with 75,187 or 13 percent; then Central Luzon with 67,980 or 11.7 percent. In terms of GDP, NCR accounted for 36.4 percent of GDP; Calabarzon, 16.8 percent; and Central Luzon, 9.7 percent.

Fewest deaths, poorest regions ON the other hand, the three regions which recorded the least number of deaths were also regions that posted double-digit poverty rates based on the 2018 first semester poverty data.

The Autonomous Region in Muslim Mindanao, Cordillera Administrative Region, and Caraga accounted for only 4.5 percent of the total deaths in the country.

ARMM had a poverty incidence rate of 63 percent; CAR, 17.9 percent; and Caraga, 35.4 percent based on the 2018 first semester poverty data.

See “Deaths,” A2

Strong liquidity prompts investors to lap up T-bills

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HE Bureau of the Treasury (BTr) has awarded the full P15 billion on offer in its latest Treasury bills (T-bills) auction on Monday, given the very liquid position of the market.

National Treasurer Rosalia V. de Leon told reporters the auction committee decided to fully award all tenors in its latest auction for T-bills with the rates remaining within internal estimates and on the back of strong liquidity.

“Given very liquid position of the market, we saw very strong participation in the auction with almost two times [oversubscription] for the one year, and then more than three times for the 182 day and also for the 91-day [T-bill],” de Leon said.

“Based on expectations: for this month, another 50- basis-point cut in the RR [reserve requirement ratio] and then expectations on the results of the FOMC [Federal Open Market Committee] meeting starting tomorrow [June 18] US [United States] time.”

The 91-day T-bill was awarded the full P4 billion on offer with bids for the security amounting to P7.450 billion.

The average annual rate for the security declined by 10.2 basis points settling at 4.453 percent as compared to the previous auction

rate of 4.555 percent.

Tenders for the 182-day T-bill reached P17.880 billion, prompting the auction committee to award the full P5 billion on offer.

The average annual rate for the security settled at 4.856 percent, decreasing by 6.70 basis points from the previous auction rate of 4.923 percent. The 364-day T-bill was also awarded the P6 billion on offer, with bids for the security amounting to P17.734 billion.

The average annual rate for the security settled at 5.050 percent, contracting by 1.90 basis points from the previous auction rate of 5.069 percent.

Total bids for T-bills amounted to P43.1 billion, which is nearly thrice oversubscribed than the offer amount of P15 billion.

Monetary authorities moved in May to cut deposit requirements on smaller banks in the system after earlier cutting the RRR for universal and commercial banks.

Monetary authorities decided to cut the RRR of thrift banks by 2 percentage points from 8 percent to 6 percent.

Another reduction of 50 basis points is expected on June 28 after a 100-basis-point cut on May 31. A third cut of 50 basis points would be on July 26. Rea Cu

News

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www.businessmirror.com.ph

Tuesday, June 18, 2019 A9

PSALM secures $1.1-B syndicated loan to settle NPC’s maturing debts

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By Lenie Lectura

@llectura

HE Power Sector Assets and Liabilities Management Corp. (PSALM) has drawn $1.1-billion syndicated loan from five banks.

The loan would be utilized to settle maturing debts of the National Power Corp. (NPC).

Under the Electric Power Industry Reform Act (Epira), PSALM is the government agency tasked to repay the debts of the NPC. “For the $1.1-billion syndicated

loan, there are five participating banks—Mizuho Bank Ltd., $300 million, MUFG Bank Ltd., $300 million, Sumitomo Mitsui Bank Corp. $300 million, Development Bank of the Philippines, $100 million and Land Bank of the Philippines, $100 million,” said PSALM President and

Chief Executive Officer Irene Joy Garcia in a text message.

The loan, said the PSALM official, has a term of five years and one-day amortization, with interest benchmark of three months US libor + 70 bps.

“After we secured all the required approvals and clearances, we proceeded with the execution of the syndicated loan on March 28, 2019. Thereafter, all the conditions precedent and deliverables for drawdown were completed last week so the drawdown happened on May 16, 2019,” Garcia said.

The PSALM offical said earlier that the agency is constrained to resort to borrowings under national government guarantees in order for PSALM to timely fulfill its mandate of liquidating the fi-

Manila Court convicts Aegis Juris fratman of obstruction of justice

By Joel R. San Juan

T

@jrsanjuan1573

HE Regional Trial Court in Manila City on Monday found a member of the University of Santo Tomas-based Aegis Juris fraternity guilty of obstruction of justice in connection with the hazing that resulted in the death of freshman law student Horacio “Atio” Castillo III in September 2017.

In a 27-page decision, Manila Metropolitan Trial Court Branch 14 Presiding Judge Carolina Esguerra sentenced John Paul Solano to a maximum of four years, two months and one day imprisonment for one count of obstruction of justice.

The court, however, acquitted him of perjury in relation to the fatal hazing of Castillo.

Sol a no w a s t he one who brought an unconscious Castillo from the Aegis Juris library in Manila to the Chinese General Hospital on September 17, 2017.

During investigation, Solano claimed he only found Castillo’s body abandoned on a sidewalk.

Further police investigation, however, showed that Solano was lying to authorities, which prompted the latter to retract his previous statement and disclose his real participation in Castillo’s death.

He recounted during the preliminary investigation of the case before the Department of

Justice that it was Arvin Balag, the head of the fraternity and a respondent in the hazing case, who instructed him to lie to the authorities.

During the trial, Solano told the court he had no intention of misleading the investigation because he gave his true details, adding that he gave the false statements to police under instructions of Balag and under the impulse of uncontrollable fear of being implicated in Castillo’s death.

Castillo died of “severe blunt traumatic injuries” after undergoing the initiation rites of the Aegis Juris fraternity.

But in her decision, Esguerra dismissed Solano’s argument he was under duress when he made the false statement to the police, adding that nothing would have prevented him from refusing to follow the supposed instructions of Balag, or from speaking the truth to the police investigators.

“Had the accused spoken of the true incidents prior to bringing Castillo to the hospital, the matter would have been investigated first by the police before hailing him to court should they find that he acted in complicity with the others in bringing Castillo’s injuries,” the ruling said.

“Hence, the fear which accused claims to have overtaken him is not, contemplation of law, as imminent as he believed, and is

even speculative at that. Thus, his defense that he acted under the impulse of uncontrollable fear for his life or limb has no leg to stand on,” it added.

Thus, the court said, Solano’s liability for violation of Section 1 (i) of Presidential Decree 1829 has been proven beyond reasonable doubt.

The court explained that a statement under oath is a key element of the crime of perjury.

The court stressed that it is an elementary rule that the prosecution has t he burden of proving beyond reasonable doubt t hat t he elements of a crime are present, but that in the perjury case, it is wanting.

“It appears to this Court that the prosecution was not able to discharge this burden in the subject charge, there is reasonable doubt if the accused is guilty of perjury and should be held liable for its violation,” the court said.

Solano remains free for now subject to the conditions of his bail. His camp has 15 days to question the court’s ruling.

Aside from Balag, the other members of the fraternity— Ralph Trangia, Marcelino Bagtang, Arvin Balag, Mhin Wei Chan, Axel Munro Hipe, Oliver John Audrey Onofre, Joshua Joriel Macabali, Robin Ramos, Jose Miguel Salamat and Danielle Hans Matthew—are facing homicide charges and violation of the Anti-Hazing law.

nancial obligations of the NPC. In 2018, PSA LM borrowed about P23 billion to cover its maturing obligations.

Funds in settling PSALM’s assumed financial obligations are sourced from collections from its power generation, privatization proceeds and universal charge.

PSALM earlier reported that independent power producer administrators (Ippas) and electric cooperatives (ECs) dominate the list of the top corporate entities with long overdue accounts with the agency amounting to a combined P59.23 billion as of December 2018.

A number of these accounts were transferred by the NPC to PSALM. “As a result, PSALM had to pay interest, guarantee fees and other finance charges of about P2.62 bil-

lion per year. Had the Ippas and electric cooperatives paid, PSALM would not incur this much additional costs,” the agency had said.

PSALM has trimmed down its financial liabilities by P78 billion in 2018. It settled a total of P78.66 billion for maturing obligations broken down into P31.50 billion debts, P29.07 billion in IPP lease obligations and P18.08 billion in interest and other charges.

After the settlement, PSALM’s outstanding balance stood at P449.94 billion as of end-2018.

The state firm also recorded P25 billion in foreign-exchange losses.

“With peso depreciation in 2018 versus end of 2017, total forex impact is around P25 billion,” said PSALM. The state firm explained that for every P1 devaluation to the US

dollar, there’s an P8-billion increase in PSALM’s financial obligations, and accordingly, forex loss incurred.

The bulk of PSALM’s financial obligations are foreign denominated, with a huge portion based in US dollars. Any devaluation of the peso against the US dollar from time to time contributes to the surge in financial obligations.

The commissioning of new power plants at that time also led to the spike in the debts’ interests.

It i s proje c te d t h at w it h PSALM’s continuous privatization efforts, including the sale of real-estate assets, collection of universal charge and power-generation proceeds, and financial obligations will further decrease substantially when the corporate life of PSALM ends in 2026.

Pasig River rehab body to build 1,411 m of linear parks on Manila, QC esteros

A MEMBER of the River Patrols dismantles the settlements and obstructions to begin the 145 meters of Ermitaño Creek linear park. PHOTO COURTESY OF PRRC

F

IRST, there was Estero de Paco; then, Estero de San Miguel.

This time around, the Pasig River Rehabilitation Commission (PRRC) is looking to build a linear park along two creeks it is cleaning, one in Manila and one in Quezon City.

The PRRC said on Monday it will begin the construction of 145 linear meters along Ermitaño Creek, Quezon City and 1,266 linear meters along Estero de la Reina, Manila after its easement recovery operations.

PRRC’s river patrol teams have been dismantling and removing the informal settlements to make the construction of the linear park possible.

According to PRRC, such rehabilitation strategies can transform any polluted waterway into an environmental preservation area (EPA).

Among its EPA success stories are Estero de Paco and Estero de San Miguel in Manila.

“Not only we will be able to get rid of the sources of pollution, but we will also improve the living conditions of

our communities for they can soon enjoy paved and lighted walkways along Ermitaño Creek and Estero de la Reina,” said PRRC Executive Director Jose Antonio E. Goitia.

To date, PRRC has built 41.15 kilometers of linear parks, resettled almost 19,000 informal-settler families and dismantled 508 privately owned structures at no cost to the government.

PRRC also lauded the Metropolitan Manila Development Authority and local government of Manila and QC for their assistance.

Gordon to hospitals: Give patients blood first before asking them to get replacement blood

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SEN. RICHARD GORDON (third from left), also Philippine Red Cross chairman, appeals to the public to support the national blood donation program at a press conference marking the World Blood Donors’ Day, where he was joined by Department of Health officials led by Secretary Francisco T. Duque III. PHOTO COURTESY OF PHIL. RED CROSS

HE world celebrated World Blood Donors’ Day recently, and Sen. Richard J. Gordon had this urgent appeal to hospitals nationwide: provide patients with the blood needed first before requiring them to bring in donors to replace the blood units to be used.

Gordon, chairman of the Philippine Red Cross (PRC), said that by requiring patients, particularly those in critical conditions, to produce donors first before they are provided with the required blood, defeats the purpose of closing down the commercial blood banks.

“My point in appealing to hospitals is this: we closed down those who are paying donors and then are selling blood. But if a hospital wants to have its own blood bank, but, before giving blood requires a patient to first look for donors to replace

their blood—I think that’s wrong,” the senator said in a mix of English and Filipino at a press conference.

He appealed to media to help spread the word among hospitals about the proper, humanitarian practice for providing blood banking services.

Gordon also assured the public that the PRC aims to open up more blood banks and blood centers for accessibility of blood supply, adding that the PRC and the Department of Health are ensuring that sure and safe blood will be available for all, even in the most vulnerable communities in the rural areas in the country.

Please donate blood

THE PRC chairman also stressed the importance of donating blood, saying that blood donors are everyday

heroes because the blood they donate can save lives.

“That is why it is so important on Blood Donors’ Day, that we make sure that there is safe blood for everybody, that we know the rules and we’re going to make sure that we really are good Samaritans when it comes to saving lives. Mahalaga ang ating mga blood donors. Everyone should try and encourage everyone to donate blood dahil araw-araw ay libu-libong tao ang nangangailangan ng dugo sa buong bansa. Everyday should be World Blood Donor’s Day,” he said.

Theme

THIS year’s WBDD celebration carries the theme “Safe Blood for All,” a call to expand access to safe and quality blood and the crucial role of voluntary blood donation in the

Universal Health Care.

“In PRC, we aim to create more blood banks and blood centers for accessibility of blood supply. We want to reach the most vulnerable communities in the rural areas in our country to ensure that there is safe blood for all,” Gordon said in a press conference on June 10.

The humanitarian organization currently has 93 blood service facilities, including 27 blood centers,66 blood collecting units/blood stations , and 11 apheresis centers.

This year, PRC is eyeing new blood facilities in Marikina City, San Carlos in Pangasinan, San Rafael, San Jose del Monte and Bocaue in Bulacan, Imus and Bacoor in Cavite, Sorsogon, Oriental Mindoro, Romblon, Batanes, Coron Palawan, Malay Aklan, Biliran Eastern Samar, Basilan, and Taw-Tawi.

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

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

Editor: Efleda P. Campos

Companies BusinessMirror

Tuesday, June 18, 2019

Vehicle sales on road to recovery?

By Elijah Felice E. Rosales

A

@alyasjah

SIGN of recovery? Sales of local vehicle assemblers went up a little less over 1 percent in May on improved performance from the commercial vehicle (CV) segment coupled with just a single-digit decline from the passenger car (PC) bracket.

In a joint sales report on Monday, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association disclosed they sold 30,998 units in May. This was 1.23 percent higher than the 30,620 units sold during the same month last year.

CV sales improved 3.42 percent to 21,945 units, from 21,219 units, but PC sales declined 3.7 percent to 9,053 units, from 9,401 units.

However, it was the first time in three months that the decline in PC sales tempered to the single-digit level. The bracket recorded double-digit slumps in January, March and April, and posted its only growth so far this year in February.

Moreover, sales of light commercial vehicles ballooned 16.78 percent to 17,629 units in May, from

15,095 units during the same month last year, to become the lone bright spot under the CV segment.

Sales of Asian utility vehicles crashed 30.69 percent to 3,192 units, from 4,606 units. Sales of light trucks also went down 15.92 percent to 639 units, from 760 units.

Further, May sales of category IV trucks and buses slipped to 348 units, from 485 units during the same month last year, while of category V decreased nearly half to 137 units, from 273 units.

Industry sales after the first five months slipped 0.03 percent to a total of 142,185 units, from 142,240 units during the same period last year. Local car makers are eyeing to grow sales by 10 percent this year after suffering a decline of 16 percent last year on record-high inflation, higher automobile taxes and

rising fuel prices.

Campi President Rommel R. Gutierrez claimed the May sales indicated the market has recovered from the economic factors that affected vehicle appetite last year.

“At the start of the year, we saw a big gap in sales versus last year. As we move forward, we can see positive signs of recovery. Our May year-to-date sales is already on a par with last year’s figures.

With stable economic trends, we are optimistic to end the year with market growth,” Gutierrez said in a statement.

Toyota Motors Philippines Corp. is still the industry’s top dog with a market share of 41.41 percent.

Trailing Toyota are Mitsubishi Motors Philippines Corp. and Nissan Philippines Inc. with market shares of 18.21 percent and 12.08 percent, respectively. Rounding up the five industry leaders are Ford Motor Co. Philippines Inc. and Honda Cars Philippines Inc. with market shares of 6.67 percent and 6.09 percent, accordingly.

Wilcon to operate 100 stores by 2025 W

By VG Cabuag

@villygc

ILCON Depot Inc., the home improvement company, said it will hit 100 stores by 2025 ahead of its target.

William T. Belo, the company’s chairman emeritus, said they are now drafting its five-year plan, which involves putting up 35 new branches all over the country.

Each store will cost about P200 million to put up while cost of inventories for each branch will amount to P100 million to P110 million or a total cost of P310 million for every store. That placed expenditures of about P10.8 billion for the stores.

Belo said many of the branches will be opened outside of Metro Manila since they already have a lot of branches in the country’s main cities.

“We are still in the process of completing our scoping for possible sites,” he said.

Wilcon President and CEO Lorraine Belo-Cincochan said they are still targeting to reach 65 stores by 2020. Eight new depots are planned to

be opened for 2019, of which two have already been opened so far. All the new stores will be located outside Metro Manila.

“The company opened nine depots in 2018. Some of the new stores are in new locations such as Naga, Tacloban and Puerto Princesa. Four branches were opened in the Calabarzon region during the year. Wilcon closed the year with 51 stores,” she said.

Wilcon COO Rosemarie Ong said the company is only looking at a high-teens topline growth and low-teens earnings growth “since we are coming off a high base and will be negatively impacted by changes in accounting standards.”

“As you may glean from our past results, our performance is affected by the number of our operating days and the timing of long holidays.

This year, the long Easter break fell in April while last year, it was in March so a slowdown in our growth trajectory is to be expected this second quarter because of the combined effects of a high base and lesser number of operating days. Also, the full impact on expenses of our investments in growth such as renovations, extensions and addi-

Dell customers can now access solutions with evolved partner tech program

C

USTOMERS of Dell Technologies can now fully access its more holistic solutions portfolio with the Dell Technologies Partner Program.

Formerly called the Dell EMC Partner Program, the evolved initiative gives simplified engagement for partners to sell and procure products and solutions across the Dell Technologies family of brands.

“Our partners asked us to make it easier to do business across our full Dell Technologies portfolio, so we made it a top priority,” said Tian Beng Ng, SVP and GM, APJ Channel, Dell Technologies. “By providing our partners with a clear road map and investing in training and development, partners will win even more deals and grow their business.”

The company announced in February that VMware solutions purchased through Dell would count toward Dell EMC Partner Program tier requirements.

“Today, we are expanding this benefit to include all sales from strategically aligned businesses transacted through the Dell Technologies Partner Program,” he said.

Two new solution badges are now available. They are comprised of already in-market certifications to validate a breadth of capability to support, and deploy across a solution. These badges are for Dell Technologies Cloud Platform and Dell Technologies Virtual Desktop

MEGAWORLD MARKS 25TH YEAR OF LISTING AT P.S.E.

Infrastructure.

A new cloud competency under the former will back up the latest Dell Technologies Cloud solution. It will be composed of the Dell Technologies Cloud Platform Badge and few other certifications, including Services Delivery Competency on VxRail.

Last year, many of the firm’s customers earned this competency.

Now, they already have the foundational deployment certifications to accelerate this new cloud competency. Full cloud competency certification requirements will be made public in the third quarter of the year.

Dell Technologies Partner Program, with these solutions, plans to honor related credentials and certifications earned from the company’s strategically aligned businesses that support its joint solutions.

The initiative’s kick off is timely as the company widens the opportunity for its clients around market-leading storage and next-generation cloud solutions. These include PowerVault ME4 and Compellent SC; Dell Technologies Cloud, a validated solution with VMware Cloud Foundation built on VxRail; Dell Technologies Unified Workspace, ProDeploy in the Unified Workspace utilizing VMware Workspace One and Endpoint Security, which combines the built-in security of a Dell laptop with Dell SafeGuard and Response.

Property giant Megaworld celebrated its 25th anniversary as a publicly listed company at the Philippine Stock Exchange with a ceremonial bell ringing on Monday, June 17, at the PSE Tower in Taguig City. The event also coincided with the company’s 30th year in the Philippine real-estate industry. Present during the ceremonies at the PSE Trading Floor were Megaworld executives (from left): Roland Tiongson, head of Megaworld Premier Offices; Atty. Carla T. Uykim, head of legal and corporate compliance; Graham Coates, head of Megaworld Lifestyle Malls; Lourdes T. Gutierrez-Alfonso, chief operating officer; Giovanni C. Ng, senior vice president and finance director; Kevin L. Tan, chief strategy officer; as well as PSE officials led by Wilson L. Sy, director; Jose T. Pardo, director; Ramon S. Monzon, director; Ma. Vivian Yuchengco, director; Roberto Cecilio O. Lim, director; Roel A. Refran, COO; and Alejandro T. Yu, director. Related story on B2.

tional distribution centers and warehouses plus the adoption of PFRS 16 will only be reflected in the second half of this year,” she said.

B1

2 firms team up to build 150 common telco towers

By Lorenz S. Marasigan @lorenzmarasigan

C

OMMON infrastructure providers Isoc Infrastructure Inc. and edotco Group Sdn. Bhd. have teamed up to jointly build 150 telco towers whose locations were identified by Globe Telecom Inc. to help accelerate the information and communications technology (ICT) infrastructure buildup in the Philippines.

Globe now prides itself as the first player in the Philippines to have tapped common tower companies to hasten the expansion of its network’s capacity and reach, gaining praise from ICT chief Eliseo M. Rio Jr. on Monday.

“We are very pleased with this development.

This is part of our answer to increasing our tower density,” he said. “We have a lot of catching up to do and this occasion will be one of those answers to our infrastructure problem.”

The Philippines is playing catch up with its neighbors in terms of tower infrastructure. It has one of the lowest tower densities in the region with only 0.14 towers per 1,000 subscribers.

Rio vowed to do the government’s part in making the tower buildup initiative of the joint venture easier than usual, with his office specifically creating a task force to handle permitting as well as right-of-way acquisition for the tower sites.

“We will soon sign a memorandum of agreement with the partnership that will basically say we will facilitate the permits for the sites that are contained in the memorandum of understanding that they signed today,” he said.

The partnership between Isoc and edotco, two companies that have existing agreements with the government for its shared infrastructure initiative, involves the construction of an initial 150 passive

infrastructure in Calabarzon.

Globe, which helped identify the locations of these towers, will be leasing the infrastructure from the joint venture. The towers will not be exclusively available for Globe, but will be open for PLDT Inc. and Mislatel Consortium, the upcoming third telco.

“The plan is to jointly invest and work with other parties. Globe will be the anchor customer and we will offer the same sites to other parties,” edotco chief Suresh Sidhu said.

Isoc Chairman Michael Cosiquien said his background in construction and his group’s expertise in technology, as well as the strengths of edotco, will ensure the towers to be built will provide quality housing for the radio equipment of any lessor.

“It affirms our commitment in helping industry stakeholders,” he said. “Isoc and edotco are committed to help provide the Filipino people the information highway they deserve with the common tower initiative.”

Globe President Ernest L. Cu noted that while his group is keen on participating in the shared infrastructure initiative, Globe will continue to build its own infrastructure to meet the demands of its customers.

“For us, it’s build as much as we can. We have a very aggressive build plan for 2019 and 2020,” he said. On the average, he said, Globe can build as many as 700 telco towers per year, quite a measly figure due to issues on red tape.

The government aims to build roughly 50,000 new common towers across the Philippines in the next decade, and is expected to come up with a more concrete policy on shared infrastructure in September.

“We have to make this initial 150 towers work because this will be the springboard for the policy that we are creating for shared infrastructure,” Rio said. “With this, we will have a more concrete basis for coming up with provisions of the policy.”

B2

Companies BusinessMirror

Tuesday, June 18, 2019

PSE STOCK QUOTATIONS

June 14, 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 RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

58.4 137.9 81 26.85 11.5 71.6 13.2 53.9 57.25 28.1 168.6 59.9 1.2 2.25 18.7 0.52 4.68 7.71 1.36 0.5 756 0.96 185.1 1,760 1.12

58.65 138 81.25 26.9 11.54 72 13.3 54 57.75 28.35 171.9 60 1.26 2.29 18.76 0.58 4.75 8.6 1.41 0.52 790 0.98 186 1,800 1.21

58.7 140 82 26.85 11.44 72.3 13.28 55.5 57.7 27.8 171.5 60.25 1.26 2.25 18.76 0.52 4.52 7.71 1.41 0.5 790 0.96 185.1 1800 1.12

58.7 140 82 26.9 11.54 72.3 13.3 55.75 57.75 28.4 172.4 60.25 1.26 2.25 18.76 0.52 4.83 7.71 1.41 0.52 790 0.96 190 1,800 1.12

58.65 137.5 80.4 26.85 11.4 71.6 13.2 53 57.7 27.8 168.1 59.8 1.26 2.25 18.76 0.52 4.52 7.71 1.36 0.49 790 0.95 185.1 1,800 1.12

58.65 137.9 81.25 26.85 11.54 71.6 13.2 54 57.75 28.35 168.6 59.85 1.26 2.25 18.76 0.52 4.79 7.71 1.36 0.5 790 0.96 185.1 1,800 1.12

1,010 1,895,260 1,825,550 172,100 171,200 991,220 56,300 1,384,380 350 256,800 478,180 2,030 1,000 15,000 400 42,000 294,000 10,300 47,000 109,000 10 279,000 1,600 10 48,000

59,237 261,680,748 148,324,155 ( 4,623,130 1,970,350 71,438,991 743,606 74,806,040.5 20,197.5 7,238,330 80,709,403 121,990.5 1,260 33,750 7,504 21,840 1,390,590 79,413 64,150 54,770 7,900 267,540 296,643 18,000 53,760

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

1.38 34.85 0.275 24.15 76.5 380 23.7 5.91 4.38 2.47 12 38.7 6.5 16.02 14.04 14.9 5.47 10.2 7.54 105.2 0.72 50.25 281.8 9.4 13.6 0.185 1.3 13.76 1.46 1.82 170 1.27 2.65 2.67 5.35 15.94 10.16 13.74 19.2 9.02 1.31 1.32 107 2.02 1.57 3.35 4.9 2.33 10 1.67 1.15 24.05

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

0.71 12.8 899 54.05 15.36 3.7 6.7 0.75 1.29 1.3 6.62 10.16 14 4.1 0.244 850.5 6.21 61.7 5.9 0.47 4.26 15.24 0.6 4.58 0.038 1.23 1.33 944.5 179.8 0.85 2.38 264.2 0.231 0.3

1.4 34.9 0.28 24.3 76.55 382.8 23.8 5.92 4.55 2.48 12.2 38.75 6.59 17 14.32 14.98 5.67 10.22 7.55 106 0.73 50.4 282 9.57 13.7 0.198 1.31 13.78 1.5 1.88 170.5 1.28 2.78 2.68 5.45 15.96 10.3 13.76 19.24 9.1 1.33 1.33 117 2.03 1.7 3.49 4.94 2.34 10.04 1.68 1.16 24.2

1.38 35.1 0.275 24.5 76.85 381.8 23.7 6.06 4.36 2.58 12.2 40.35 6.52 17 14.42 14.86 5.75 10.2 7.55 107.9 0.77 51 286 9.41 13.1 0.186 1.33 13.7 1.45 1.85 174 1.34 2.75 2.73 5.35 16.1 10.3 14.02 19.3 9 1.32 1.3 116 2.02 1.57 3.49 4.9 2.42 10.12 1.68 1.17 24.5

1.38 35.5 0.29 24.5 77.1 383.8 24 6.06 4.63 2.65 12.2 40.5 6.59 17 14.44 14.92 5.75 10.3 7.55 107.9 0.79 51 286 9.65 13.74 0.187 1.34 13.84 1.5 1.92 174 1.37 2.79 2.78 5.35 16.1 10.5 14.02 19.3 9.1 1.38 1.36 117 2.02 1.57 3.49 4.9 2.43 10.12 1.68 1.19 25

1.38 34.85 0.275 24 76.5 380 23.45 5.91 4.36 2.48 11.98 38.65 6.5 17 14.02 14.82 5.46 10.12 7.51 105.1 0.72 48.1 280.8 9.4 13.1 0.185 1.3 13.7 1.45 1.8 168 1.27 2.65 2.67 5.35 15.96 10.06 13.74 19.12 9 1.3 1.28 116 2.02 1.57 3.4 4.9 2.34 9.92 1.67 1.15 24.05

1.38 34.9 0.28 24.3 76.5 380 23.7 5.91 4.38 2.48 12.2 38.75 6.5 17 14.04 14.9 5.47 10.2 7.54 106 0.72 50.25 282 9.57 13.6 0.185 1.31 13.76 1.5 1.88 170 1.28 2.78 2.68 5.35 15.96 10.16 13.76 19.22 9.1 1.32 1.33 117 2.02 1.57 3.49 4.9 2.34 10 1.67 1.16 24.05

49,000 1,171,300 2,360,000 1,352,100 55,660 256,880 1,160,800 2,088,200 77,000 42,133,000 38,700 938,000 226,200 100 677,000 485,000 72,400 3,536,100 2,501,900 287,450 3,944,000 144,900 551,770 2,600 3,194,700 440,000 3,684,000 523,900 80,000 225,000 694,850 14,080,000 60,000 13,268,000 25,900 82,600 884,400 484,700 443,200 300 2,409,000 5,084,000 200 87,000 10,000 3,000 25,000 9,585,000 679,100 79,000 475,000 208,400

67,620 40,897,975 664,250 32,715,360 4,261,343.5 98,048,982 27,486,005 12,455,502 337,030 106,959,680 469,470 37,572,455 1,471,303 1,700 9,697,054 7,217,524 408,509 36,112,522 18,858,878 30,392,286 2,940,470 7,241,552.5 155,743,154 24,583 42,541,980 81,560 4,835,150 7,201,204 117,630 420,430 118,012,734 18,564,280 165,660 36,089,720 138,565 1,320,248 9,038,422 6,713,356 8,519,226 2,710 3,229,300 6,733,500 23,360 175,740 15,700 10,380 122,500 22,736,670 6,780,230 132,000 552,360 5,065,410

HOLDING & FRIMS 0.72 12.9 899.5 54.2 15.4 3.72 6.78 0.78 1.3 1.32 6.67 10.2 14.06 4.48 0.255 853 6.58 61.8 6.1 0.5 4.28 15.4 0.61 4.61 0.039 1.26 1.37 945 180 0.86 2.47 264.4 0.236 0.31

0.75 13.3 904.5 55 15.5 3.55 6.75 0.75 1.3 1.34 6.8 10.14 14.18 4.14 0.255 875 6.22 63.65 5.91 0.51 4.2 15.3 0.61 4.63 0.039 1.2 1.38 940 181 0.88 2.38 266 0.23 0.31

0.75 13.3 904.5 55.25 15.54 3.73 6.78 0.78 1.32 1.34 6.9 10.2 14.18 4.14 0.255 879.5 6.22 63.65 5.91 0.51 4.36 15.4 0.61 4.64 0.039 1.35 1.38 958.5 182.5 0.88 2.38 266 0.231 0.315

0.69 12.8 896 54 15.36 3.47 6.7 0.75 1.28 1.3 6.61 10.08 13.9 4.1 0.255 850.5 6.21 61.4 5.91 0.49 4.2 15.22 0.59 4.58 0.039 1.15 1.34 932 179.8 0.85 2.38 264.4 0.23 0.3

0.72 12.9 899.5 54.05 15.4 3.72 6.78 0.75 1.3 1.32 6.62 10.16 14.06 4.1 0.255 850.5 6.21 61.7 5.91 0.5 4.28 15.4 0.59 4.58 0.039 1.26 1.34 945 179.8 0.85 2.38 264.4 0.231 0.3

62,972,000 65,000 393,460 972,350 2,494,600 14,433,000 11,000 168,000 2,548,000 530,000 368,000 1,678,800 149,100 65,000 170,000 35,880 5,000 1,590,660 2,000 246,000 377,000 4,583,000 142,000 10,668,000 1,100,000 13,606,000 20,000 201,970 409,310 869,000 5,000 930 300,000 4,910,000

45,142,060 839,888 353,966,525 52,814,471 ( 38,477,426 51,850,850 74,254 126,570 3,294,180 693,340 2,454,228 17,036,050 2,091,766 268,120 43,350 30,743,950 31,083 98,817,555.5 11,820 120,610 1,624,020 70,003,772 85,370 49,176,910 42,900 17,423,180 26,840 191,436,045 73,892,153 743,300 11,900 247,156 69,260 1,499,150

58,650 (201,372) 22,163,074.5) 637,045 (663,742) (21,432,342) 31,551,078 (3,680,955) (7,429,489) (19,782.5) (0) (16,894,345) 6,736,465 (2,574,680) (23,073,158) 17,938,255 (7,128,028) 1,401,110 (15,027,835) 50,028 (1,700) 282,638 620,678 (208,457) (11,488,286) (3,104,101) 6,425,554 3,510,030 (57,112,706) 25,068,358 (3,297,020) 879,526 (41,545,570) (3,310,200) 13,263,200 670,620 (585,108) (433,510) (3,866,718) (57,520) 228,640 (36,360) (624,840) (851,459) 618,940 (57,536,000) 28,952,045.5) (21,063,646) (6,091,140) 24,790 233,250 (1,312,970) (10,586,716) (43,610) (14,651,200) (56,076,115) (488,710) (721,138) (6,938,070) 9,805,240 (11,231,024) 17,200 (21,260) 148,350

PROPERTY

ARTHALAND CORP 0.82 0.83 0.8 0.82 0.8 0.82 1,979,000 1,608,830 (291,790) AYALA LAND 50.5 50.55 50.55 50.95 50 50.5 6,289,810 317,516,721.5 38,554,556.5 ARANETA PROP 2.04 2.07 2.06 2.07 2.06 2.07 31,000 63,920 BELLE CORP 2.33 2.35 2.34 2.39 2.33 2.33 837,000 1,957,340 (133,280) A BROWN 0.78 0.79 0.79 0.8 0.78 0.8 1,154,000 908,920 89,900 CITYLAND DEVT 0.9 0.91 0.93 0.93 0.85 0.91 355,000 308,190 CROWN EQUITIES 0.227 0.23 0.225 0.23 0.225 0.23 40,000 9,050 6,750 CEBU HLDG 6.16 6.34 6.15 6.35 6.12 6.16 26,400 164,498 (72,455) CEB LANDMASTERS 4.81 4.82 4.79 4.82 4.73 4.81 322,000 1,542,880 CENTURY PROP 0.58 0.59 0.59 0.61 0.58 0.58 26,011,000 15,312,170 (177,730) CYBER BAY 0.46 0.465 0.475 0.495 0.465 0.465 11,260,000 5,342,950 114,850 DOUBLEDRAGON 25.85 25.9 25.95 26 25.6 25.85 460,100 11,885,460 6,476,105 DM WENCESLAO 9.96 9.98 9.96 10 9.95 9.96 441,100 4,391,086 3,431,638 EMPIRE EAST 0.475 0.48 0.485 0.49 0.48 0.48 440,000 212,150 (153,950) FILINVEST LAND 1.69 1.7 1.71 1.75 1.69 1.69 53,200,000 91,017,660 (39,280,290) GLOBAL ESTATE 1.31 1.32 1.32 1.35 1.31 1.32 3,367,000 4,457,070 2,680 8990 HLDG 15.82 15.86 16 16 15.64 15.86 137,200 2,177,848 216,854 PHIL INFRADEV 1.83 1.85 1.88 1.88 1.82 1.83 3,831,000 7,073,440 (1,600) KEPPEL PROP 3.89 4.8 3.89 3.89 3.89 3.89 1,000 3,890 CITY AND LAND 0.89 0.9 0.88 0.9 0.88 0.9 72,000 64,110 (900) MEGAWORLD 5.96 5.97 5.98 6.03 5.92 5.97 9,031,700 53,826,950 6,961,880 MRC ALLIED 0.315 0.32 0.33 0.335 0.32 0.32 21,440,000 6,941,700 2,148,050 PHIL ESTATES 0.455 0.465 0.455 0.465 0.455 0.465 170,000 78,050 PRIMEX CORP 2.07 2.09 2.1 2.11 2.05 2.08 698,000 1,449,330 (2,100) ROBINSONS LAND 25.45 25.5 26 26.05 25.5 25.5 1,596,400 40,939,915 (19,610,415) PHIL REALTY 0.41 0.42 0.41 0.41 0.41 0.41 30,000 12,300 ROCKWELL 2.12 2.15 2.16 2.16 2.12 2.15 131,000 281,890 (118,360) SHANG PROP 2.98 2.99 3 3 2.99 2.99 74,000 221,770 STA LUCIA LAND 1.98 2 2.01 2.04 1.95 2 913,000 1,819,270 (146,440) SM PRIME HLDG 38.3 38.35 39.2 39.2 38.3 38.3 4,570,100 175,952,175 (93,224,015) STARMALLS 6.18 6.19 6.25 6.34 6.18 6.19 120,900 752,382 SUNTRUST HOME 0.73 0.77 0.78 0.78 0.72 0.78 3,000 2,280 VISTA LAND 7.05 7.1 7.09 7.13 7.05 7.05 4,441,000 31,344,378 (13,326,854)

SERVICES ABS CBN 17 17.2 16.9 17.2 16.8 17.2 148,700 2,507,436 GMA NETWORK 5.35 5.38 5.41 5.41 5.33 5.36 146,100 782,298 MANILA BULLETIN 0.55 0.56 0.53 0.57 0.53 0.56 540,000 300,360 GLOBE TELECOM 2,156 2,162 2202 2,238 2,122 2,162 33,015 71,773,190 5,944,890 PLDT 1,195 1,198 1230 1,239 1,195 1,195 256,930 310,173,850 (123,164,375) APOLLO GLOBAL 0.043 0.044 0.043 0.044 0.043 0.043 23,300,000 1,011,300 DFNN INC 5.82 6.1 6.2 6.49 6.1 6.1 23,000 142,025 IMPERIAL 1.76 1.83 1.78 1.78 1.75 1.76 182,000 319,660 ISLAND INFO 0.118 0.122 0.119 0.124 0.117 0.122 860,000 103,200 (2,480) ISM COMM 6.57 6.59 6.7 6.7 6.51 6.57 4,081,000 26,899,188 (87,670) NOW CORP 2.43 2.44 2.38 2.49 2.37 2.43 1,052,000 2,550,810 (46,840) TRANSPACIFIC BR 0.38 0.385 0.405 0.405 0.38 0.385 19,110,000 7,474,150 103,350 PHILWEB 3.7 3.71 3.6 3.78 3.6 3.71 5,312,000 19,743,910 (856,830) 2GO GROUP 10.9 11 10.92 11 10.8 11 16,400 178,628 1,092 ASIAN TERMINALS 20.55 21.45 21.45 21.45 21.45 21.45 700 15,015 CHELSEA 7.07 7.09 7.11 7.15 7.05 7.07 1,798,100 12,757,471 630,213 CEBU AIR 86.7 86.75 88 88 85 86.75 225,360 19,482,894.5 6,479,535.5 INTL CONTAINER 144.7 145 146.7 147.4 144.7 144.7 1,162,500 169,093,399 (40,019,944) LBC EXPRESS 13.5 15.4 15 15.4 15 15.4 9,100 136,580 LORENZO SHIPPNG 0.82 0.84 0.82 0.84 0.82 0.84 15,000 12,410 MACROASIA 19.08 19.1 19.22 19.22 19.06 19.1 1,153,700 22,044,602 14,817,726 METROALLIANCE A 1.46 1.71 1.44 1.73 1.44 1.71 135,000 204,990 PAL HLDG 9.05 9.25 9.05 9.25 9 9.24 72,700 657,374 9,000 HARBOR STAR 2.28 2.29 2.26 2.32 2.25 2.29 1,665,000 3,815,680 ( 154,660.0001) ACESITE HOTEL 1.32 1.39 1.36 1.39 1.36 1.39 5,000 6,890 BOULEVARD HLDG 0.056 0.057 0.056 0.058 0.055 0.056 23,000,000 1,292,660 18,070 DISCOVERY WORLD 2.04 2.15 2.17 2.17 2.17 2.17 6,000 13,020 WATERFRONT 0.74 0.75 0.75 0.75 0.72 0.75 1,602,000 1,179,140 (8,140) CENTRO ESCOLAR 7 7.23 7.24 7.24 7.23 7.23 1,400 10,134 IPEOPLE 10.08 10.1 10.08 10.14 10.08 10.14 7,200 72,688 STI HLDG 0.71 0.72 0.72 0.74 0.71 0.72 1,681,000 1,214,800 256,950 BERJAYA 2.85 2.86 2.89 2.91 2.85 2.86 336,000 964,230 26,100 BLOOMBERRY 11.56 11.58 11.5 11.62 11.48 11.56 1,978,300 22,855,392 (12,966,344) PACIFIC ONLINE 3.07 3.13 3.13 3.14 3.07 3.07 96,000 295,230 (55,560) LEISURE AND RES 4.08 4.12 4.15 4.24 4.08 4.08 1,009,000 4,165,660 41,000 MANILA JOCKEY 3.34 3.42 3.42 3.42 3.42 3.42 9,000 30,780 PH RESORTS GRP 4.77 4.99 5.1 5.1 4.98 5 5,400 26,962 PREMIUM LEISURE 0.81 0.82 0.83 0.83 0.8 0.81 2,848,000 2,321,980 326,340 TRAVELLERS 5.1 5.11 5.12 5.12 5.1 5.11 1,923,300 9,826,124 (8,307,571) METRO RETAIL 2.55 2.56 2.58 2.58 2.55 2.56 2,353,000 6,034,370 161,770 PUREGOLD 45.45 45.65 45.2 45.85 44.2 45.45 1,162,800 52,777,360 30,246,130 ROBINSONS RTL 76.2 76.3 75.85 76.2 75.85 76.2 623,940 47,437,597 20,963,317 PHIL SEVEN CORP 131 131.8 133 133 131 131 21,050 2,758,400 98,610 SSI GROUP 3.42 3.43 3.43 3.46 3.4 3.42 4,317,000 14,791,810 814,450 WILCON DEPOT 16.58 16.6 16.54 16.78 16.54 16.6 3,350,400 55,629,104 (15,961,356) APC GROUP 0.45 0.455 0.455 0.455 0.44 0.45 2,180,000 980,450 EASYCALL 10.2 10.4 10.36 10.54 10.2 10.2 43,700 448,436 GOLDEN BRIA 405 411 403.2 413.4 403 412 220 90,492 41,200 IPM HLDG 5.7 5.8 6 6 5.8 5.8 3,900 22,800 PRMIERE HORIZON 0.8 0.81 0.83 0.83 0.8 0.81 9,564,000 7,757,430 (71,660) SBS PHIL CORP 9.44 9.48 9.44 9.48 9.44 9.48 12,800 121,221

MINING & OIL ATOK 10.82 12.34 12.3 12.34 12.3 12.34 1,400 17,256 APEX MINING 1.19 1.2 1.23 1.23 1.19 1.19 885,000 1,066,590 (294,020) ABRA MINING 0.0018 0.002 0 0.0019 0.0019 0.0018 0.0018 27,000,000 50,400 ATLAS MINING 2.69 2.75 2.68 2.68 2.68 2.68 2,000 5,360 COAL ASIA HLDG 0.285 0.29 0.285 0.29 0.285 0.29 760,000 216,650 CENTURY PEAK 2.82 2.84 2.82 2.84 2.81 2.82 75,000 211,530 (129,720) DIZON MINES 7.62 7.66 7.64 7.71 7.62 7.63 4,100 31,308 FERRONICKEL 1.42 1.43 1.44 1.47 1.41 1.43 2,344,000 3,345,500 GEOGRACE 0.223 0.231 0.231 0.231 0.222 0.23 130,000 29,330 LEPANTO A 0.108 0.114 0.111 0.111 0.108 0.111 9,320,000 1,030,890 MANILA MINING A 0.0073 0.008 0 0.0074 0.0074 0.0074 0.0074 11,000,000 81,400 MARCVENTURES 1.03 1.04 1.03 1.03 1.03 1.03 49,000 50,470 20,600 NIHAO 0.95 1 1.01 1.01 0.95 1 60,000 57,330 41,800 NICKEL ASIA 2.1 2.15 2.2 2.2 2.09 2.1 6,689,000 14,116,700 (8,165,030) OMICO CORP 0.55 0.58 0.55 0.55 0.54 0.55 86,000 46,640 ORNTL PENINSULA 0.86 0.88 0.88 0.88 0.87 0.87 334,000 291,020 PX MINING 3.06 3.08 3.05 3.08 3.01 3.08 494,000 1,500,230 (234,300) SEMIRARA MINING 22 22.05 21.65 22.45 21.6 22 2,358,300 51,957,905(8, 111,690.0003) UNITED PARAGON 0.0064 0.0065 0 0.0065 0.0065 0.0064 0.0064 7,000,000 45,400 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 8,300,000 91,300 ORNTL PETROL B 0.011 0.013 0.011 0.011 0.011 0.011 500,000 5,500 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.01 32,800,000 344,000 PHINMA PETRO 4.26 4.32 4.29 4.54 4.26 4.26 114,000 493,900 PXP ENERGY 7.28 7.3 7.39 7.4 7.26 7.3 595,000 4,370,775 (332,404)

PREFFERED

HOUSE PREF A 95.5 97 96.5 96.5 95.5 95.5 1,000 95,644.5 AC PREF B1 474 488.2 482 482 474 474 2,120 1,017,580 AC PREF B2 486 495 487 487 486 486 700 340,270 DD PREF 97.2 98 97.15 97.15 97.15 97.15 750 72,862.5 SMC FB PREF 2 931 970 963 965 929.5 965 1,880 1,760,125 FGEN PREF G 106 107.8 106.5 107.9 106.5 107.9 2,530 270,467 FPH PREF C 445.6 496 460 460 449.8 449.8 90 40,992 GLO PREF P 485 493 487 487 485 485 2,000 970,860 4,860 GTCAP PREF A 900 919.5 917 917 900 900 490 441,690 GTCAP PREF B 883 949.5 921.5 921.5 902 902 390 356,150 LR PREF 0.99 1 1.01 1.01 1 1 65,000 65,080 PNX PREF 3A 99.05 101.4 99.05 99.05 99.05 99.05 1,500 148,575 PNX PREF 3B 103.5 106.9 103.2 103.2 103.2 103.2 400 41,280 PCOR PREF 2A 986 995 990 990 986 986 170 167,660 PCOR PREF 2B 1,010 1,019 912 1,010 912 1,010 180 180,720 SMC PREF 2B 75.55 75.6 75.55 75.55 75.55 75.55 2,000 151,100 SMC PREF 2C 77 77.55 77.55 77.55 77 77.55 10,620 818,091.5 701,470 SMC PREF 2D 73.05 73.8 73.85 73.85 73.85 73.85 120 8,862 SMC PREF 2E 72.3 74 73.95 73.95 73.95 73.95 6,000 443,700 SMC PREF 2F 74.3 75 74 74 74 74 3,400 251,600 SMC PREF 2G 74.4 74.7 74.4 74.5 74.4 74.5 5,300 394,670 SMC PREF 2H 73 73.8 72 73.6 72 72 16,470 1,196,203 421,920 SMC PREF 2I 73.2 73.7 73.7 73.7 73.7 73.7 1,020 75,174 -

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 17 17.56 17 17 16.5 17 70,200 1,193,000 GMA HLDG PDR 5.13 5.4 5.3 5.4 5.3 5.4 4,000 21,250

WARRANTS LR WARRANT

1.97

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.98 XURPAS 1.1

1.98

1.97

1.98

1.97

1.98

17,000

33,560

-

5 1.11

5.09 1.04

5.09 1.1

4.97 1.03

4.98 1.1

642,000 15,683,000

3,209,592 16,885,580

712,628 17,140

EXHANGE TRADE FUNDS FIRST METRO ETF

119

(938,000) -

119.2

119.5

119.5

118.5

119.2

8,300

989,277

477,256

www.businessmirror.com.ph

Megaworld targets 30 townships by 2020 M

By VG Cabuag

@villygc

EGAWORLD Corp. on Monday said its will to launch five townships in the country through next year to bring the company’s mixed-use developments portfolio to 30 by 2020.

Kevin Andrew L. Tan, the company’s senior vice president for commercial division, said most of these mixed-use developments it calls townships will be in Luzon, with only one located in Mindanao. Currently, it has a total of 24

mixed-use developments all over the country.

The company’s unit Empire East Land Holdings Inc. launched earlier this year its township in Cainta, Rizal.

“We want to expand our foot-

print now, even in the Visayas because we realize that we are quite Luzon-centric. We’re quite excited with all of the developments happening especially with all infrastructure coming in,” Tan said after the company’s 25th listing anniversary at the Philippine Stock Exchange.

These new developments will cover a land area of 2,000 hectares.

Most of these are from new land acquisitions carried by Megaworld group’s land banking efforts during the last five years, it said.

“Currently, we have a little over 4,000 hectares of both developed and developable land. By next year, we will increase our land ownership and land holding to more than 6,000 hectares as we continue to focus on our goal to expand to key growth

areas in the provinces; help boost tourism, provide jobs and further spur economic opportunities outside of Metro Manila,” Tan said.

Megaworld, he said, is still studying if it will join the Real Estate Investment Trust bandwagon among the property companies after its rival Ayala Land Inc., the country’s second-largest developer, announced that it will create a REIT company under the existing rules.

Tan said there are many options for the company, but it will still wait for the new implementing rules and regulation as the current one asks a high public-ownership structure.

Its other options include an office REIT, a township REIT or a hospitality REIT.

GCash aims to increase financial inclusion among Filipinos

By Lorenz S. Marasigan

G

@lorenzmarasigan

CASH, operated by Globe Fintech Innovations Inc. (Mynt), said on Monday that increasing enablement among Filipinos through its telco agnostic strategy is key to greater financial inclusion in the Philippines.

Mynt President Anthony Thomas said his group has built the GCash app to be zero-rated and telco agnostic to help enable more Filipinos to participate in the digital lifestyle. Since it opened the platform to Smart, Sun, and TNT subscribers, GCash has grown its user base to 20 million as of writing time.

“Increasing enablement by adopting a telco agnostic strategy allows us to bring finance to all.

By providing quality service via our breakthrough technology and adapting to the changing consumer behavior, we are helping more and more Filipinos to have access to digital finance that were previously not available to them,” he said.

With more than half of the country’s population owning a smartphone and only 31 percent main-

taining a formal bank account, GCash seeks to marry the Filipino’s tech-savvy culture and the need for financial services.

“It’s not just about being able to provide an efficient experience with the GCash app; it’s about what we’re building. We have built an easy-to-navigate and reliable platform that is open for all, and we continue to innovate to provide more financial services, especially to the unbanked and underbanked Filipinos,” Thomas said.

Thomas described GCash as an “architect of the country’s digital frontier,” as it offers Filipinos access to various financial technology services, such as digital payments, remittances, credit, investments, and insurance, among many others.

Because of this, he said his group has helped unlock “more opportunities for more Filipinos to manage their finances in the easiest, most inexpensive way.”

“Our goal is to provide a wellrounded service, and we want to bring finance to everyone. With the technology we have, we’re making some solid steps —steps that would make life much easier for Filipinos,” Thomas said.

Eternal Gardens unveils Transfiguration of Jesus, inaugurates San Vicente Ferrer Plaza in Cabuyao City, Laguna, June 18

L

EADING memorial-park developer Eternal Gardens will unveil today, June 18, the image of the Transfiguration of Jesus at its newest branch in Barangay Mamatid, Cabuyao City, Laguna. San Vicente Ferrer Plaza, in honor of the patron saint of Barangay Mamatid, will also be blessed along with the Transfiguration image.

House Speaker Gloria Macapagal-Arroyo will be the guest of honor in the event.

Expected to attend are local government officials headed by Cabuyao City Mayor Rommel A. Gecolea, Vice Mayor Leif Laiglon Opiña, Barangay Mamatid Chairman Erlinda Alcasabas, and Laguna Second District Rep. Joaquin Chipeco Jr. Former First Gentleman Jose Miguel T. Arroyo and former Camarines Sur Rep. Dato Arroyo will be with Speaker Arroyo. They will be welcomed by top company officials of Eternal Gardens, led by its Chairman and CEO D. Edgard A. Cabangon.

The event will start with a Thanksgiving Mass to be celebrated by Rev. Fr. Gomer Torres, parish priest of the Diocesan Shrine and Parish of San Vicente Ferrer, who will also officiate the blessing.

“We are officially bringing our fine brand of memorial care to the City of Cabuyao with the

unveiling of the image of the Transfiguration of Jesus, which is our company’s trademark and symbol of excellence,” said Eternal Gardens President and COO Numeriano B. Rodrin.

“We have also built the San Vicente Ferrer Plaza in honor of the patron of Barangay Mamatid, and as a gift to devotees in Cabuyao and nearby places,” he added.

The concrete image of the Transfiguration of Jesus at Eternal Gardens Cabuyao is a work of veteran sculptor Conrado Balubayan, while the image of San Vicente Ferrer at the center of the new plaza is a creation of artist Jubail Bautista.

Eternal Gardens Cabuyao is the company’s third branch to open in the Province of Laguna, following its branches in the cities of Biñan and Santa Rosa, and 11th memorial park nationwide. It broke ground on October 23, 2018.

The other branches of Eternal Gardens are located in Baesa, Caloocan City; and in the cities of Dagupan, Batangas (Balagtas and Concepcion), Lipa, Naga, Cabanatuan and Cagayan de Oro. Founded in 1976 by the late Ambassador Antonio L. Cabangon Chua, Eternal Gardens is part of the Eternal Group together with Eternal Plans Inc., Eternal Crematory Corp., and Eternal Chapels and Mortuary.

MUTUAL FUNDS

June 17, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 267.65 2.76% 0.52% 1.19% 6.11% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6326 6.55% 9.16% 3.38% 13.31% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.161 0.6% 0.79% 0.39% 6.61% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9524 4.92% N.A. N.A. 6.95% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8873 5.17% N.A. N.A. 8.12% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5605 3.86% 1.24% 1.22% 5.49% MBG EQUITY INVESTMENT FUND, INC. -A 122.11 8.28% N.A. N.A. 4.85% ONE WEALTHY NATION FUND, INC. -A 0.8926 2.06% -3.46% N.A. 7.23% PAMI EQUITY INDEX FUND, INC. -A 53.1775 5.69% 1.78% N.A. 8.07% PHILAM STRATEGIC GROWTH FUND, INC. -A 551.95 4.4% 0.71% 1.06% 7.23% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3447 6.66% 2.4% 3.65% 7.23% PHILEQUITY FUND, INC. -A 39.488 6.75% 3.14% 3.18% 7.8% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0651 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3869 6.5% 2.52% 3.42% 8.63% PHILIPPINE STOCK INDEX FUND CORP. -A 899.5 6.58% 2.23% 3.37% 8.57% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9345 6.5% 1.41% N.A. 8.51% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.4072 6.89% 2.49% 2.6% 8.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0337 6.05% 2.16% N.A. 8.32% UNITED FUND, INC. -A 3.7895 6.23% 4.22% 3.09% 8.24% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 120.4193 7.02% 3.2% 4.44% 8.73% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9761 -11.85% 5.42% -0.34% 5.06% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2784 -2.75% 8.16% N.A. 15.68% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7552 3.18% -0.66% -1.05% 6.3% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.341 1.86% 0.82% 0.89% 5.97% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6814 3.11% 0.21% -1.15% 5.41% GREPALIFE BALANCED FUND CORPORATION -A 1.3653 1.68% N.A. N.A. 4.68% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9468 4.82% 1.11% 1.45% 5.63% PAMI HORIZON FUND, INC. -A 3.7634 3.91% 0.09% 0.68% 6.63% PHILAM FUND, INC. -A 16.9391 4.62% 0.27% 0.71% 6.48% SOLIDARITAS FUND, INC. -A 2.1665 3.72% 1.27% 2.01% 4.55% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9152 6.1% 1.27% 1.66% 7.22% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0251 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0249 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.022 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0072 6.93% 1.65% N.A. 9.28% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0371 6.33% 1.35% 1.76% 5.25% PAMI ASIA BALANCED FUND, INC. -A $0.9717 -7.84% 2.99% -1.13% 3.79% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7058 0.08% 6.08% 2.46% 12.01% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.098 1.89% 3.67% N.A. 8.71% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 349.69 3.3% 2% 2.18% 1.84% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8901 1.68% -0.22% -0.24% 1.66% COCOLIFE FIXED INCOME FUND, INC. -A 3.0447 5.52% 5.31% 5.29% 2.49% EKKLESIA MUTUAL FUND INC. -A 2.1776 2.97% 1.12% 1.78% 2.21% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3033 3.88% 1% 1.26% 4.25% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6058 2.05% -0.94% -0.01% 2.65% PHILAM BOND FUND, INC. -A 4.1427 4.49% 0.08% 0.96% 5.69% PHILEQUITY PESO BOND FUND, INC. -A 3.664 4.98% 1.13% 1.31% 4.18% SOLDIVO BOND FUND, INC. -A 0.9368 3.39% -0.32% N.A. 4.95% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9425 7.42% 1.74% 1.95% 6.38% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6362 7.41% 1.27% 1.52% 6.25% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $457.12 3.43% 1.84% 2.72% 1.97% ALFM EURO BOND FUND, INC. -A Є216.63 1.92% 1.38% 1.46% 1.87% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1787 6.05% 1.83% 2.27% 4.7% 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 $1.7147 1.21% -1.34% 0.59% 1.45% PAMI GLOBAL BOND FUND, INC -A $1.0803 4.44% -0.29% -1.95% 4.12% PHILAM DOLLAR BOND FUND, INC. -A $2.3215 8.44% 1.21% 3% 6.92% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0589018 3.84% 1.5% 1.75% 3.37% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0523 5.85% 0.6% 2.41% 6.27% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.23 3.6% 2.35% 1.88% 1.98% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0137 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2105 3.65% 1.61% 1% 2.42% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.242 3.6% 2.61% 1.99% 1.89% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0271 2.11% N.A. N.A. 1.1%

A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018.

3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

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

The World

MASSIVE BLACKOUT HITS TENS OF MILLIONS IN SOUTH AMERICA

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UEÑOS AIRES, Argentina—A massive blackout left tens of millions of people without electricity in Argentina, Uruguay and Paraguay on Sunday in what the Argentine president called an “unprecedented” failure in the countries’ power grid.

Authorities were working frantically to restore power, and by the evening electricity had returned to 98 percent of Argentina, according to state news agency Telam. Power also had been restored to most of Uruguay’s 3 million people, as well as to people in neighboring Paraguay.

On Sunday morning, Argentine voters were forced to cast ballots by the light of cell phones in gubernatorial elections. Public transportation was halted, shops closed and patients dependent on home medical equipment were urged to go to hospitals with generators.

“This is an unprecedented case that will be investigated thoroughly,” Argentine President Mauricio Macri said on Twitter.

Argentina’s power grid is generally known for being in a state of disrepair, with substations and cables that were insufficiently upgraded as power rates remained largely frozen for years.

The country’s energy secretary said the blackout occurred at about 7 a.m. local time when a key Argentine interconnection system collapsed. By mid-afternoon nearly half of Argentina’s 44 million people were still in the dark.

The Argentine energy company Edesur said on Twitter that the failure originated at an electricity transmission point between

the power stations at the country’s Yacyretá dam and Salto Grande in the country’s northeast.

But why it occurred was still unknown.

An Argentine independent energy expert said that systemic operational and design errors played a role in the power grid’s collapse.

“A localized failure like the one that occurred should be isolated by the same system,” said Raúl Bertero, president of the Center for the Study of Energy Regulatory Activity in Argentina. “The problem is known and technology and studies [exist] to avoid it.”

Energy Secretary Gustavo Lopetegui said workers were working to restore electricity nationwide by the end of the day.

“This is an extraordinary event that should have never happened,” he told a news conference. “It’s very serious.”

Uruguay’s energy company UTE said the failure in the Argentine system cut power to all of Uruguay for hours and blamed the collapse on a “flaw in the Argentine network.”

In Paraguay, power in rural communities in the south, near the border with Argentina and Uruguay, was also cut. The country’s National Energy Administration said service was restored by afternoon by redirecting energy from the Itaipu hydroelectric plant the country shares with neighboring Brazil.

In Argentina, only the southernmost province of Tierra del Fuego was unaffected by the outage because it is not connected to the main power grid.

Brazilian and Chilean officials said their countries had not been affected. AP

HUAWEI FOUNDER SAYS REVENUE WILL BE BILLIONS BELOW FORECAST

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HENZHEN, China—Huawei’s founder likened his company to a badly damaged plane on Monday and said revenues will be $30 billion less than forecast over the next two years.

The Chinese telecom giant will reduce capacity but US moves to restrict its business “will not stop us,” Ren Zhengfei, who is also the CEO, said on a panel at company headquarters.

He said the company expected revenues of about $100 billion annually for the next two years, compared to $105 billion in 2018. In February, he said the company was targeting $125 billion in 2019.

In May, the US has put Huawei on a

blacklist, meaning that American companies that want to sell parts to Huawei will need approval from the US Commerce Department.

US officials have accused Chinese technology companies such as Huawei of stealing trade secrets and threatening cybersecurity — possibly at the behest of the ruling Communist Party.

The action comes as Huawei and competitors prepare to launch nex t generation 5G mobile networks.

Ren said there are no backdoors in its equipment that anyone could access, and that Huawei is willing to enter into a no backdoor agreement with any nation that wants one. AP

Trump calls newspaper report on Russia power grid ‘treason’

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ASHINGTON—President Donald J. Trump has lashed out at The New York Times, saying it engaged in a “virtual act of treason” for a story that said the US was ramping up its cyber-intrusions into Russia’s power grid.

The Times reported on Saturday that the US has bored into Russian utility systems in an escalating campaign meant to deter future cyber activity by Russia. It comes as the US looks for new ways to punish Russia’s meddling in the 2016 presidential election and prevent a recurrence.

The Times, in its official public relations account, called Trump’s accusation “dangerous” and said it had told officials about the story before it was published and no security issues were raised.

The newspaper, basing its reports on three months of interviews with current and former government officials, said this campaign was conducted under new cyber authorities granted by Trump and Congress. But it also reported that two administration officials believed the president had not been briefed in detail, fearing he might countermand the action against Russia or reveal sensitive information to foreign officials.

In a pair of tweets sent on Saturday night, Trump asserted the story wasn’t true and denounced

reporters as “cowards.”

“Do you believe that the Failing New York Times just did a story stating that the United States is substantially increasing Cyber Attacks on Russia. This is a virtual act of Treason by a once great paper so desperate for a story, any story, even if bad for our Country,” he wrote.

The story reported the deployment of American computer code into Russia’s grid and other targets to act as a deterrent. The newspaper also said the US Cyber Command, part of the Department of Defense, has explored the possibility that Russia might try to initiate selective blackouts in key states to disrupt the 2020 election.

In a second t weet, Tr ump added about the story: “ALSO, NOT TRUE! Anything goes with our Corrupt News Media today.

They will do, or say, whatever it takes, with not even the slightest thought of consequence! These are true cowards and without doubt, THE ENEMY OF THE PEOPLE!” The New York Times’ response also noted that the paper described the article to government officials before publication. “As our story notes, Trump’s own national security officials said there were no concerns.”

T he paper said there was no ev idence the US had actually activated the cyber tools. AP

BusinessMirror

Tuesday, June 18, 2019

B3

US companies tell Trump: Don’t expand China tariffs

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ASHINGTON—What happens if President Donald J. Trump carries out his threat to impose tariffs on the remaining $300 billion in Chinese goods that he hasn’t already hit with 25-percent import taxes?

A New Hampshire fireworks company says it would have to raise prices, likely lose business and force some small towns to cancel their Fourth of July fireworks displays.

A Minnesota motorcycle maker warns that it would lose business to foreign rivals that don’t have to pay taxes on Chinese parts.

A Los Angeles designer and distributor of houseware goods says it would have to extend a hiring freeze and delay plans to expand into a larger warehouse.

The administration, in the midst of the trade war it began with Beijing, had asked for comments on its plan to extend 25-percent tariffs to everything China ships to the United States.

It’s getting an earful

HUNDREDS of businesses, trade groups and individuals have written to complain that the additional import taxes would drive up prices for consumers, squeeze profits and leave US companies at a competitive disadvantage to foreign rivals that aren’t subject to higher taxes on the vital components they buy from China.

They’re pleading with the administration to rethink the tariffs—or at least spare the particular imports they and their customers rely on. Some will appear in person to air their grievances in seven days of hearings in Washington that begin on Monday.

A common theme in their pleas is that American businesses—not

China, as Trump often asserts— must pay the import taxes the president is imposing on Chinese goods. And in the end, many of these companies will pass their higher costs on to their customers.

Trump has already imposed 25-percent tariffs on $250 billion in Chinese imports. The goal is to pressure Beijing to stop stealing American technology, forcing US businesses to hand over trade secrets and unfairly subsidizing Chinese tech companies.

Eleven rounds of negotiations have failed to resolve the dispute over China’s aggressive drive to surpass America’s technological dominance.

Businesses and investors say they hope the negotiations will gain momentum if Trump and President Xi Jinping hold a face-to-face meeting at a Group of 20 summit in Osaka, Japan, in two weeks.

“Most businesses are almost praying for a solution,” said Patrik Berglund, who tracks global trade as the CEO of Xeneta, an Oslo, Norway firm that provides data on the shipping industry. “These things will have enormous consequences. We’re so connected in this global world.”

Trump’s earlier tariffs largely spared American consumers by focusing on industrial goods that don’t show up directly in the mall or big-box stores. But the new round will inflict financial pain on ordinary households because it will affect many consumer goods, from cellphones and computers to shoes and silk scarves.

“We’re talking about things that you and I buy and buy in a store, and that’s going to be felt directly by consumers,” said Neil Bradley, chief policy officer at the US Chamber of Commerce. The companies that serve the retail market, he said, tend to have “much, much less margin to absorb those increased tariff costs.”

A report commissioned by the National Retail Federation found that American consumers would pay an additional $4.4 billion a year for clothing, $2.5 billion more for shoes and $1.6 billion more for household appliances.

More broadly, economists say the tariffs could weaken a US economy that appears to be on shakier footing. Mark Zandi, chief economist at Moody’s Analytics, said the higher import taxes would leave the United States with 900,000 fewer jobs than it would have had otherwise.

“The US economy will be flirting with recession later this year and early next,” Zandi said.

Jeffrey Pratt, leader of the supply chain practice at the accounting and consulting firm BDO, called the looming tariffs “a bit of game changer” for his clients. Many can’t afford to absorb the taxes themselves and would pass along the higher costs to their customers.

Atlas PyroVision Entertainment in Jaffrey, New Hampshire, relies on China for 90 percent of the fireworks it sells.

“Simply imposing a 25-percent tariff will ultimately cause significant harm to our family business,” CEO Stephen Pelkey said in a filing with the US Trade Representative.

“We would be forced to pass along the increase directly to our customers.”

Noting that community nonprofits often use the fireworks for Independence Day celebrations, Pelkey wrote: “In most cases, a 25-percent hike in price will force their skies to go dark on the 4th of July.”

Bracing for the new tariffs, Yedi Houseware, a Los Angeles family business, has postponed plans to

hire and move into a bigger warehouse. Bobby Djavaheri, a company executive, echoed a common complaint: The administration is taxing products—in his case, things like air fryers—that aren’t made by American companies. They must be imported. So no US producer benefits from the tariffs; US importers just get socked with a tax.

“It’s really dumbfounding,” he said.

Indian Motorcycle Co. in Medina, Minnesota, complained that its foreign competitors won’t have to pay a tax on Chinese parts, allowing them to “import the finished motorcycle into the United States—without increased costs.”

Excluding motorcycle parts from the tariffs, a company lawyer, Paul Vitrano, wrote, would “avoid the unintended consequence of providing foreign-based motorcycle manufacturers with a competitive advantage.”

Carltons Men’s and Women’s Apparel store in the Delaware beach town of Rehoboth says the tariffs would force it to raise prices—a $500 suit could cost $625—and lose business and cut its staff of 15.

“If revenue declines, then payroll must, too,” said owner Trey Kraus.

Objections to the tariffs aren’t unanimous. The Bohning Co., a maker of archery equipment in Lake City, Michigan, asserted that Chinese companies are counterfeiting its products and have easier access to the US market than it has to China’s.

“The 25-percent tariffs should be put in place,” wrote CEO Larry Griffith.

But most of those who sounded off on the tariffs were implacably opposed to them—and concerned.

“We beg, plead and pray you will use common sense in these trade practices and consider the little guy!!” wrote Alan Chadwick, who imports silk scarves from China and sells them in Wyoming.

“We are just ants who get trampled under fighting buffalo.” AP

Boeing made mistake in handling warning-system problem, says CEO

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ARIS—The chief executive of Boeing said the company made a “mistake” in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people, and he promised transparency as the aircraft maker works to get the grounded plane back in flight.

Speaking before the industry-wide Paris Air Show, Boeing CEO Dennis Muilenburg told reporters Boeing’s communication with regulators, customers and the public “was not consistent. And that’s unacceptable.”

The US Federal Aviation Administration (FAA) has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn’t work as intended.

Boeing and the FAA have said the warning light wasn’t critical for flight safety.

It is not clear whether either crash could have been prevented if the cockpit alert had been working properly. Boeing says all its planes, including the Max, give pilots all the flight information—including speed, altitude and engine performance—that they need to fly safely.

But the botched communication has eroded trust in Boeing as the company struggles to rebound from the passenger jet crashes in Indonesia and Ethiopia.

“We clearly had a mistake in the implementation of the alert,” Muilenburg said.

Pilots also have expressed anger that Boeing did not inform them about the new software that’s been implicated in the fatal crashes.

Muilenburg expressed confidence that the Boeing 737 Max would be cleared to fly again later this year by US and all other global regulators.

“We will take the time necessary” to ensure

IN this April 29, 2019, file photo, Boeing Chief Executive Dennis Muilenburg speaks during a news conference after the company’s annual shareholders meeting at the Field Museum in Chicago. Boeing’s CEO says the company made a “mistake” in handling a problematic cockpit warning system in 737 Max jets ahead of two deadly crashes of the top-selling plane. AP/JIM YOUNG

the Max is safe, he said.

The model has been grounded worldwide for three months, and regulators need to approve Boeing’s long-awaited fix to the software before it can return to the skies.

Muilenburg called the crashes of the Lion Air and Ethiopian Airlines jets a “defining moment” for Boeing, but said he thinks the result will be a “better and stronger company.”

In the United States, Boeing has faced scrutiny from members of Congress and the FAA over how it reported the problem involving a cockpit warning light.

The feature, called an angle of attack or AoA alert, warns pilots when sensors measuring the up-or-down pitch of the plane’s nose relative to oncoming air might be wrong. Boeing has admitted engineers realized within months of the plane’s 2017 debut that the sensor warning light only worked when paired with a separate, optional feature but didn’t report the issue for more than a year, after the crash in Indonesia.

The angle-measuring sensors have been

implicated in the Lion Air crash in Indonesia last October and the Ethiopian Airlines crash on March. The sensors malfunctioned, alerting antistall software to push the noses of the planes down. The pilots were unable to take back control of the planes. Boeing told the FAA of what it learned in 2017 after the Indonesia crash.

Pilot Dennis Tajer, a spokesman for the union that represents American Airlines pilot, the Allied Pilots Association, said it’s good Muilenburg was willing to revisit the cockpit alert problem and to acknowledge Boeing mishandled conveying information.

But Tajer said he thinks Boeing made a series of unprecedented communication missteps that have “created a massive headwind to rebuilding trust.”

Restoring trust in the Max is Boeing’s No. 1 priority, Muilenburg said—ahead of an upgraded 777 and work on its upcoming NMA long-range jet.

The Max, the newest version of Boeing’s

best-selling 737, is critical to the company’s future. The Max was a direct response to rival Airbus’ fuel-efficient A320neo, one of the European plane maker’s most popular jets; Airbus has outpaced Boeing in sales in the category.

The Max crashes, a slowing global economy, and damage from tariffs and trade fights threaten to cloud the mood at the Paris Air Show.

Along with its alternating-years companion, the Farnborough International Airshow near London, the Paris show is usually a celebration of cutting-edge aviation technology.

Muilenburg forecast a limited number of orders at the Paris event, the first major air show since the crashes, but said it was still important for Boeing to talk to customers and others in the industry.

He also announced that Boeing was raising its long-term forecast for global plane demand, notably amid sustained growth in Asia.

Boeing expects the world’s airlines will need 44,000 planes within 20 years, up from a previous forecast of 43,000 planes.

Muilenburg projected that within 10 years, the overall aviation market—including passenger jets, cargo and warplanes—would be worth $8.7 trillion, compared to earlier forecasts of $8.1 trillion.

Both estimates are higher than the ones from Airbus, which sees slower growth ahead.

However, Airbus is heading into the Paris show with confidence. It is expected to announce several plane sales and unveil its A321 XLR long-range jet. Airbus executives said the Max crashes aren’t affecting their sales strategy, but are a reminder of the importance to the whole industry of ensuring safety. AP

B4 Tuesday, June 18, 2019

EMPIRE EAST TO INTRODUCE 24-HECTARE ‘ELEVATED CITY’

P SILENT SANCTUARY Mallgoers at SM City North now have a new spiritual haven where they can pray, attend Mass and services, and find time to reflect at the new Our Lady of the Most Holy Rosary Chapel, at the fourth-floor level of the The Block. Designed by international design firm Arquitectonica, the 1,075-square-meter chapel’s blessing and concelebrated Mass took place just in time for Pentecost Sunday. Shown beside the image of Our Lady of the Most Holy Rosary are Most Rev. Bishop Honesto Ongtioco and Felicidad Sy (third and second from left, respectively), SM Prime Holdings executive committee chairman Hans Sy and Rev. Father Victor Angelo Parlan.

LAMOIYAN VISITS SCHOOL IN CAVITE, DISTRIBUTES SANITARY PRODUCTS Lamoiyan Corp. marketing director Bing Cavestany and assistant brand manager for Licealiz Cristina Martinez (second and third from left, respectively) receive a certificate of recognition from the Department of Education for their participation in this year’s Brigada Eskwela at Alfonso Central Elementary School in Cavite. Lamoiyan Corp., a leading manufacturer of personal-hygiene and home-care products in the country, donated over half a million worth of Lamoiyan products, namely, Licealiz antihead-lice shampoo, Hapee toothpaste and James styling gel, to 200 public schools nationwide. Through this partnership with DepEd for three years, Lamoiyan Corp. aims to promote the correct way of treating head-lice infestation, one of the common health problems in schools. Licealiz effectively kills lice and nits two weeks after use and prevents lice infestation from recurring. Its active ingredient pyrethrin, a natural extract from chrysanthemum flowers, is clinically tested, and proven safe and successful in killing lice and nits, while its conditioning formula keeps your kid’s hair soft, smooth and fragrant.

ROPERTY developer Empire East Land Holdings Inc. is rolling out more than 3,000 residentialcondominium units this year, for the first cluster of its 24-hectare development in Pasig-Cainta area, in time for its 25th anniversary.

With its outstanding track record of building unparalleled communities in Metropolitan and suburban Manila, Empire East launches its grandest high-rise residential project to date, the 38-tower Empire East Highland City, along Felix Avenue at the boundary of Pasig City and Cainta, Rizal. Envisioned to be a luxurious uphill community with an “elevated city” concept, this masterplanned township is expected to reshape the real-estate landscape in the east side of Metro Manila.

Empire East President and Chief Executive Officer lawyer Anthony Charlemagne C. Yu, emphasized that this new undertaking “is set to meet the needs of Filipino families by bringing them an integrated and interconnected lifestyle—something the company strives to deliver through its developments.”

The “elevated city” concept will be another first in the Philippine real-estate industry. Empire East Highland City will have an elevated green park that shall serve as the township’s grand welcome, leading to the Highland Mall and 38 residential towers with on-stilts architectural design. Future residents will also enjoy an exclusive and world-class sports club.

As a leader in the middle-income market, Empire East consistently creates and offers pioneering real-estate concepts that have become industry trends, such as the township model, lofttype units, micro cities, transit-oriented developments and urban resorts.

“Our property offerings have made the residents’ comfort and convenience a true priority, upgrading their experiences in a way the contributes directly to their happiness and well-being,” Yu added.

For 2018 the company is proud of its accomplishments in real-estate sales, with nearly 184,000 square meters of total floor area sold out from different projects. It also completed the construction of close to 95,000 square

meters of living space and turned over more than 2,700 condominium units across nine residential towers.

The growth of the company from 1994 to 2018 made it establish a portfolio of 110 completed towers with approximately 17,000 condominium units. Adding up to this are 7,700 residential lots on its horizontal developments, serving a total of 24,000 families, or 60,000 residents, over the past 24 years.

“These are the kinds of numbers that constantly motivate us at Empire East. They visualize for us just how many lives we have transformed—and continue to transform—through our developments,” Yu further said.

THANKS TO ‘NOAH’! ONLINE COURIER HAS BEEN MADE EASIER

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TARTING your online business is an exciting experience. The fe e l i ng of accompl i sh me nt when someone buys your product encourages you to offer even more for your customers. You get a couple of orders, call a courier, deliver the package, then call it a day.

However, as your brand starts

t o g ro w a nd d e v e l o p, y ou w i l l eventually receive between 10 or even 50 orders. Handling all of these isn’t easy. You have to make sure you contact a reliable courier and assure that every customer receives their package one by one. Managing these makes little time for prioritizing other aspects of your business.

This is the problem xpanse CEO Josh Supan has managed to solve.

In order to happi ly m a i nt a i n a n o n l i ne shopping web site, he conceptua lized a system to do so. “I love retail and the economics of it a l l . T here’s a r t i n ho w re t a i l m a k e s mo n e y f l o w. W h e n the moder n version of retail (e-commerce)

emerged in the Philippines, that was immediately the space I wanted to be in.” Supan explained. “I really just want to simplify the last mile experience for business owners.”

S u p a n ’s b u s i n e s s p a r t n e r David Marquez took that idea and developed it into Noah, whose name is inspired by the bible figure tasked with delivering the most important pac k age. Noa h is a n autom ated shipping platform integrated into your web site, which automatically manages your order up until last mile logistics. To simply put it, Noah processes your orders, contacts the courier and has it automatically delivered for you.

Don’t have a site? xpanse will build one for you and will integrate Noah to make sure that running an online business is a breeze. For more information, visit xpanse.ph.

DE LOS SANTOS, METRO SANITAS TEAM UP FOR ACCESSIBLE ANCILLARY SERVICES

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E Los Santos Medical Center (DLSMC) and Metro Sanitas Corp. (MSC) recently agreed to both serve the laboratory and diagnosticimaging needs of MSC patients.

The memorandum of agreement covers services currently unavailable in the MSC mall-based clinics, such as CT Scan and MRI procedures.

Corporate accounts of DLSMC will also benefit from this partnership as they will have access to any Metro Sanitas clinic near their workplace.

The agreement covers both inpatient and outpatient services.

Additionally, MSC doctors will also be accredited at De Los Santos Medical Center.

Metro Sanitas Corp. is a joint venture between Metro Pacific Hospital Holdings Inc. and the worldwide established Keralty health-specialized group, and is setting up an outpatient clinic network in Metro Manila. It currently has four branches, namely, MetroSanitas Clinic Met Live (Met Live Mall, Pasay City), MetroSanitas Clinic Festival (Festival Mall, Muntinlupa), MegaC l inic (SM Megama l l, Mandaluyong) and TopHealth Clinic (SM San Lazaro, Manila).

The DLSMC is a 150-bed, Level 3 private tertiary hospital along E. Rodriguez Sr. Boulevard, Quezon City.

It is the seventh member-hospital of Metro Pacific Hospital Holdings Inc., under the MVP Group of Companies, headed by businessman Manuel V. Pangilinan.

Sig n i ng t he memora ndu m of agreement are Metro Sanitas Corp.

Chief Executive Officer Anna Lacambra (left) and DLSMC President and CEO Raul C. Pagdanganan.

WOODLAND Sports BAGS FIRST MAJOR BusinessMirror

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| Tuesday, June 18, 2019 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

Woodland finished in style on Sunday.

He holed a 30-foot birdie putt for a two-under 69, giving him the lowest 72-hole score in six US Opens at Pebble Beach and a threeshot victory over Koepka, who was going for a third straight US Open.

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EBBLE BEACH, California—Gary Woodland denied Brooks Koepka’s bold bid at history with two clutch shots and made US Open memories of his own, starting with that silver trophy in his hands at Pebble Beach.

Woodland finished in style on Sunday. He holed a 30-foot birdie putt for a two-under 69, giving him the lowest 72-hole score in six US Opens at Pebble Beach and a three-shot victory over Koepka, who was going for a third straight US Open.

Koepka had to settle for a footnote in history as the first player with all four rounds in the 60s at the US Open without winning. But he made Woodland earn every bit of his first major championship.

Clinging to a one-shot lead with more pressure than he has ever felt, Woodland seized control by going for the green on the par-five 14th hole with a 3-wood from 263 yards, narrowly clearing a cavernous bunker and setting up a simple up-and-down for a two-shot lead.

Even more significant was a shot from 90 feet.

Woodland hit the edge of the green on the parthree 17th all the way to the right, with the pin on the hourglass green on the other side.

Ahead on the 18th, Koepka’s 3-iron went just over the back of the green, leaving him a chip for eagle to tie, with a birdie likely to do the trick considering what Woodland faced. Koepka chipped to just inside 10 feet and missed the putt.

Woodland delivered again. Unable to use putter to get it close, he perfectly clipped a pitch over the mound, and it checked about 12 feet short of the hole and trickled down to tap-in range.

That effectively ended the US Open. Woodland played conservatively down the 18th and made one last birdie that only mattered in the record book. He finished at 13-under 271, one shot better than Tiger Woods’s historic rout in 2000.

The difference was Woods won by 15 shots and was the only player under par. With a marine layer blocking the sunshine, and no significant wind at Pebble Beach all week, 31 players finished under par.

Koepka closed with a 68 for his second runner-up in the majors this year, along with his second straight Professional Golfers’ Association Championship title.

Justin Rose was the only one who caught Woodland, with a birdie on the opening hole. Rose bogeyed from the bunker on No. 2, and fell out of the race with three bogeys in a four-hole stretch on the back nine. He shot 74 and shared third with Xander Schauffele (67), Jon Rahm (68) and Chez Reavie (71). AP

GARY WOODLAND celebrates after winning the US Open Championship golf tournament on Sunday in Pebble Beach, California. AP

KOEPKA FALLS SHORT OF 3-PEAT

By Eddie Pells

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The Associated Press

EBBLE BEACH, California—Brooks Koepka brought his “A” game to Pebble Beach on Sunday, hoping it would be good enough to make history.

It was, in a way.

Just not good enough to slow down the magic show Gary Woodland was putting on behind him.

Koepka’s round of three-under 68 left him three strokes short of Woodland, who stopped Koepka’s quest to become the first player since 1905 to win three straight US Opens.

Koepka did make history by becoming only the fourth player to break 70 in all four rounds of the US Open, but even that didn’t turn out so great. Ten minutes later, Woodland became the fifth, thanks to a par save courtesy of a chip off the 17th green that nearly went in, then a 30-foot birdie on 18 for the final dagger.

And so, Koepka’s special place in history after this week at Pebble Beach is that he’s the only man to break 70 in all four rounds and not walk away with the title. He finished 10-under par 274.

“I played great. Nothing I could do. I gave it my all. And sometimes, no matter how good your ‘good’ is, it isn’t there,” Koepka said.

Koepka came into the day trailing by four but made an all-world par save—first from the gallery, then from the thick grass in a barranca fronting the second green—and followed that with three straight birdies that pushed him to 11 under, only one shot behind Woodland.

“I thought, ‘Yeah, we’ve got a ballgame now,’” Koepka said.

It was quite a ballgame, but it didn’t go back and forth.

Even after a front side of three-under 32, and even after stuffing a wedge on No. 11 to 10 feet for a birdie to get to 11 under, Koepka could not grab the lead—not even for a minute.

He missed the fairway on 13, 14 and 15 and saved par each time, but there was no piercing-perfect gap wedge, à la the 10th hole at the Professional Golfers’ Association at Bethpage two months ago, and there were no holding off Tiger Woods and all those cheers, à la the PGA at Bellerive last year.

“You knew he was going to come out those first couple holes, you can attack, and he did that,” Woodland said. “All day he was knocking on the door. I was proud to stay in my moment and control myself.”

Woodland’s 3-wood from 263 yards on the par-five 14th set him up for a birdie that gave him a two-shot cushion. It would’ve been the shot of the tournament had it not been for the

shots he made from the greens—one with wedge, the other with putter—on 17 and 18.

It put Koepka in a must-make situation at the end.

He was 227 yards from the pin on the par-five 18th and needed eagle to have any chance.

His 3-iron flew past the hole and landed over the green in a tricky lie near the back.

He stubbed the chip, then barely missed the 9-foot birdie putt that would’ve put him at 11 under. Koepka doubled over when the ball trickled away, knowing his small chance at a late miraculous turnaround was gone.

“At the time, it felt significant,” Koepka said. In the end, it might not have mattered.

And though Koepka will have to wait another month before going for major No. 5, at the British Open at Royal Portrush, his resume didn’t take too bad a hit.

His line in the majors this year: One win, two second-place finishes.

It remains one of the most dominating stretches of golf in a while.

When this close call was over, Koepka finally took some time to reflect on the history he almost made.

“I didn’t really think about it until I was done on 18 and realized how close I actually was to kind of, I guess, not making history, but kind of tying it,” he said. “It’s a cool feeling to know. Just wasn’t meant to be this week.”

BROOKS KOEPKA reacts after missing a birdie putt on the 18th hole during the final round of the US Open. AP

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BACK TO REALITY

Fuglsang wins criterium race in Switzerland

C PAKISTAN’S captain Sarfaraz Ahmed bats during the Cricket World Cup match between India and Pakistan at Old Trafford in Manchester, England, on Sunday. AP

PAKISTAN FACES TOUGH ODDS TO REACH SEMIS M

ANCHESTER, England—Imran Khan won a Cricket World Cup for Pakistan long before he won an election to be prime

minister.

The prime minister had a few ideas on how Pakistan might end its run of six World Cup losses to archrival India, so he sent a few thoughts via social media for the team.

The main advice from the 1992 World Cupwinning captain ahead of Sunday’s game: bat first if you win the toss; pick specialist batters and specialist bowlers.

What happened?

Pakistan won the toss and sent India in to bat at Old Trafford. It wasn’t an unreasonable decision considering the cool, overcast conditions, the fact it had rained heavily the previous day and the likelihood further bad weather would trigger the revised run-rate scenarios which tend to favor the chasing team.

Pakistan dropped a specialist batsman and a specialist bowler, and recalled two all-rounders.

The aim was to add depth to the spin attack on a wicket that takes turn.

The result? Loss No. 7.

“Today’s match was a disaster for us, but I’m confident we can bounce back from this,” Pakistan captain Sarfaraz Ahmed said, in comments translated from Urdu.

Pakistan has so far had matches in this tournament against all the other previous champions, losing to West Indies, Australia and India and having to share the points in a washout against Sri Lanka.

The one win to date was against top-ranked England, the pretournament favorite. The next

game is South Africa, which also has three points.

Lose that and there’s no chance they can reach the semifinals. Sarfaraz faced questions about team selection and the body language of the players but said the 89-run loss, based on a revised target after the rain-interrupted game, was the result of his team not capitalizing on its chances.

Rohit Sharma scored 140 from 113 balls, but was in his 30s when he should have been run out. Fakhar Zaman threw to the wrong end from midwicket after KL Rahul had turned his batting partner back instead of taking a second run and Sharma was well out of his ground.

“We had two lapses. We had chances we didn’t take,” Sarfaraz said. “If we’d taken those chances it could have been different—we would have been in a better position.”

Left-arm paceman Mohammad Amir took 3-47 after India’s flying start, but the 2011 World Cup winners still posted 336-5, a record total for a one-day international at Old Trafford. Pakistan lost opener Imam-ul-Haq with the total at 13, recovered with a 104-run stand between Fakhar Zaman (62) and Babar Azam (48), but fell behind a competitive strike-rate and lost steam when Kuldeep Yadav took both their wickets.

Pakistan went to a rain delay in the 35th over at 166-6, and was set a revised target of 302 from 40 overs to win—a near-impossible 136 from five overs.

They never got close.

Sarfaraz said India was just playing better cricket at the moment than Pakistan, which lost the first World Cup encounter between the two countries in 1992 but still captured the title that year. AP

TORONTO Raptors guard Kyle Lowry holds Larry O’Brien National Basketball Association (NBA) Championship Trophy after the Raptors defeated the Golden State Warriors, 114-110, in Game Six of NBA Finals on Thursday in Oakland, California. AP

By Ian Harrison

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The Associated Press

ORONTO—The Toronto Raptors were still partying it up in Las Vegas, part of an extended celebration following their first championship, when the National Basketball Association (NBA) starting reshaping itself for a new season with the blockbuster trade agreement on Saturday that will send Anthony Davis to the Lakers.

Talk about snapping back to reality.

Turns out Raptors Coach Nick Nurse already had.

Back home in Toronto on Sunday, on the eve of a parade to honor his team, Nurse said he and General Manager Bobby Webster have already started talking about a future that’s full of tough questions.

“Bobby and I have already had two meetings about it since the championship,” Nurse said. “The reality is that it’s right upon us, and we get to work. I’ve got several meetings today with some players. We don’t have any choice but to get to work on it. My thought, always, is stay hungry.

We’ve got to get our guys that we want back.”

No player is more important to Toronto’s fortunes than Finals Most Valuable Player Kawhi Leonard, who is expected to opt out of the final year of his contract and become a free agent.

“We definitely want him back,” Raptors forward Pascal Siakam said.

Center Marc Gasol said Leonard’s elite twoway game makes him “one of a kind.”

“I don’t think there’s any other player of his

caliber right now in the NBA,” Gasol said. “He’s on a pedestal by himself.”

With status like that, longtime teammate Danny Green said Leonard’s decision is sure to have a ripple effect across the NBA. “Let’s not be foolish,” Green said. “His decision affects a lot of guys’ decisions. He can change a whole organization.”

Raptors President Masai Ujiri also is the subject of speculation, linked to an offer from the Washington Wizards. Ujiri, who was not available on Sunday, is expected to speak at Monday’s parade, which will finish in the square outside Toronto’s city hall.

Even after a year together, Nurse said he has no idea which way Leonard is leaning.

“I don’t really know,” Nurse said. “I know’s he’s got to make a decision here really soon, couple of weeks. I think he had a good season and people like him here, and we can give him a good deal.”

Guard Fred VanVleet said he’s joked with Leonard about the star forward’s uncertain future, but doesn’t plan to deliver a full-scale sales pitch.

“I would assume that he knows what is here and what makes this place special,” VanVleet said.

“If it’s enough, it’ll be enough and if it’s not, it’s not. We would all love him to be back and if he’s not then we’ll move on from there. He came here and did what he was supposed to do. He brought this city the championship and I think he’s earned his freedom in his career to do what he wants to do, and we’ll all respect it and admire him.”

Even so, respect and admiration only go so far.

“If he’s on another team,” VanVleet said, “we’ll just have to kick his [butt] next year.”

Gasol can also opt out of the final year of his contract, while Green, a free agent, said he hopes to return.

Nurse said Gasol, acquired from Memphis at the trade deadline, changed Toronto’s view of itself as a title contender.

“After we had him for a few games we were like, ‘Woah, this guy’s good. He’s smart, he can pass,’” Nurse said. “Everybody was like ‘Man, we’re better and we can become really good.’ That’s a big thing to contribute to a team.”

Gasol said he’s been too busy celebrating to consider his future, and understands he might not be Toronto’s first order of business.

“I’m sure that the franchise has other priorities to go first,” he said.

Before re-signing Leonard, Gasol, or anyone else, the Raptors must make time for Thursday’s NBA draft. Toronto currently only has one pick, the second-last selection of the second rotund, 59th overall. The Raptors didn’t have a pick last year.

Nurse also said he’s close to finalizing a parttime role as head coach of the Canadian national team, a position he’s expected to hold through this year’s World Cup in China and next year’s Olympics in Tokyo.

“It’s just about done,” Nurse said. “It’s something I’m looking forward to doing.”

Nurse, who spent a decade coaching in the British Basketball League, was an assistant coach for Britain from 2009 to 2012, culminating with the 2012 London Olympics.

ALONSO LEADS TOYOTA TO LE MANS VICTORY

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E MANS, France—Fernando Alonso won the 24 Hours Le Mans endurance race for the second straight year after the Toyota Gazoo team’s other car came unstuck on Sunday.

It was the two-time Formula One (F1) champion’s last race in the World Endurance Championship (WEC), and also sealed the WEC title. Alonso and his codrivers Sébastien Buemi and Kazuki Nakajima, who took the checkered flag, had luck on their side in securing the title.

With about one hour left, the Toyota No. 7 car driven by José María López had to pit for a tire change when comfortably leading. The driver was not sure whether it was a sensor or a suspected puncture, but his enforced stop effectively handed the race lead to Alonso’s No. 8 car.

It was an identical result to last year with the No. 7 car—again featuring Kamui Kobayashi and Mike Conway—finishing second.

Although Toyota secured another 1-2, questions will be asked within the team about how No. 7 lost the race.

Buemi and Nakajima must have felt for them, too, having lost the 2016 race on the final lap after a mechanical failure.

“We really have the impression we didn’t deserve the win. Unfortunately they punctured right near the end,” Buemi told broadcaster Eurosport. “We’re well placed to know how it feels because of what happened to us in 2016.

We deserved the world title after all the work we’ve done this year, but the No. 7 deserved the win today.”

Alonso echoed that.

“They really deserved the victory,” he said.

“Luck is a very important part of motorsport.”

He should know after his McLaren team failed to qualify for the Indianapolis 500 following a calamitous series of errors.

The 37-year-old Spaniard still needs to win the Indianapolis 500 in order to match British driver Graham Hill’s feat of completing the Triple Crown: winning Le Mans, the Monaco Grand Prix and the Indy 500. He has won Monaco and Le Mans twice, both of them back to back.

A total of 252,500 spectators attended the 87th edition of Le Mans, which was first held in 1923.

It was another frustrating result for

Kobayashi, who drove four full seasons in F1 with one podium finish.

Kobayashi was hit by a gear-box failure overnight while comfortably leading the 2017 race and had to abandon.

On Saturday, he secured pole position in about three minutes, 15 seconds on the 13.6-kilometer (8.43-mile) track in Northern France.

Kobayashi’s No. 7 car then led the first seven hours of the race, before Alonso’s No. 8 briefly took the lead in the next hour.

Although No. 8 retook the lead in the 11th hour, No. 7 quickly regained it and looked to have held it all the way.

Until the late incident undid 23 hours of hard toil.

The Toyota team quickly tweeted: “Dramatic and unexpected end to the race, but it’s a Toyota one-two nonetheless. We feel so sorry for our #7 crew, but big congratulations to our new @FIAWEC World Champions and two-time Le Mans winners.”

Two people familiar to Alonso finished in third place in the No. 11 SMP Racing car.

One was Stoffel Vandoorne—his former F1 teammate at McLaren—and the other Vitaly Petrov.

SPANISH driver Fernando Alonso jubilates as his team win the 87th 24-hour Le Mans endurance race in Le Mans, Western France on Sunday. AP In the deciding race of the 2010 F1 championship, Alonso had a very good chance to seal a third world title.

But despite starting third, his Ferrari got stuck behind Petrov’s Renault at the Abu Dhabi GP and he ended the race in seventh spot. It cost him

dearly, as he finished second in the title race— only four points behind Sebastian Vettel.

This time, the luck went Alonso’s way as he celebrated becoming a double world champion across two motorsports.

He still found time to commiserate with Kobayashi, giving him a long hug. AP

HAMPERY, Switzerland—Danish rider Jakob Fuglsang won the Critérium du Dauphiné race for the second time after keeping his overnight lead in Sunday’s final stage.

The 2017 champion finished 20 seconds ahead of American rider Tejay van Garderen and 0:21 clear of Emanuel Buchmann of Germany in the standings.

British rider Adam Yates, who was eight seconds behind Fuglsang in second place overnight, pulled out with sickness with some 50 kilometers (31 miles) to go on the 113.5-kilometer (70.4-mile) trek from Cluses—in the high mountains of the Savoie region—to Champery in Switzerland.

Several riders were affected by heavy winds and chilly conditions. The 34-year-old Fuglsang was pleasantly surprised at how he ended up winning.

“I was expecting the day to be even harder than it eventually happened to be, but my team controlled it in a perfect way from the beginning,” the Astana rider said. “For me, it was a jump in a limousine until the finish.”

Victory on Stage 8 went to Dutch rider Dylan van Baarle, who narrowly beat Jack Haig of Australia. It was Haig who launched an attack some 16 kilometers (10 miles) from the end, only for van Baarle to catch him and beat him to the line in a sprint finish.

Van Baarle is a Team Ineos teammate of four-time Tour de France champion Chris Froome, whose race ended dramatically on Wednesday when he hit the wall of a house during a training session ahead of a time trial.

Froome is recovering following a six-hour operation after being airlifted from Roanne to Saint-Etienne hospital. The 34-year-old Froome broke his right femur, elbow and several ribs and has been ruled out of the Tour, which starts on July 6 in Brussels.

Fuglsang is feeling confident heading into the showcase race.

“I’m looking forward to it. I think I’m on the right way. Up to now it’s been a fantastic season for me,” he said. “I hope it can get even better.

Everything seems to come really easy and perfect, with no stress. The whole Astana team is riding super strong this year.” AP

Maximum Security badly beaten in NJ

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CEANPORT, New Jersey—The Triple Crown series was marked by the unexpected and the whacky three-yearold season continued when Maximum Security returned to racing for the first time since being disqualified in the Kentucky Derby.

Sent off as the overwhelming 1-20 favorite, Maximum Security simply got beat. There was no DQ, no runaway horse like in the Preakness or improbable winner like in the Belmont.

It was just an upset marked by a stumble at the start that might have cost Maximum Security the race and left the division wide open.

Second-choice King for a Day stalked Maximum Security from the start, took the lead in the stretch and posted a one-length victory in the $150,000 Pegasus Stakes at Monmouth Park on Sunday.

“I think the next race will be better,” said Jason Servis, the trainer of Maximum Security “We needed to get that of the way. I was glad to get it out of the way even though he got beat.”

It marked the first time Maximum Security has not crossed the finish line first in six career starts, and the stumble might have been the difference.

“It was a tough week,” said Servis, who had debated whether to run Maximum Security because he was not sure he was ready. “He was feeling pretty good this morning. He was jumping and kicking. But the stumble hurt us a lot.” AP

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Tuesday, June 18, 2019 C3

MEIJERS NEARS TITLE

Reduction Management Office, with Onesports by Cignal as official coveror.

“We’ll try to be a little cautious because anything can happen in a race,” Meijers said. “But mostly, we’ll keep the same plan of defending the purple jersey as much as we can.” Samuel Hill of Team Nero, who ruled the Daet-Legazpi Stage 3 on Sunday, had a crash in the final 40 kms in Sorsogon and was nearly hit by the team car of Oliver’s Real Food Racing of Australia, which instead sideswiped a Filipino marshal. Both suffered wounds and bruises.

There were, however, no changes in the top 10 as Aussie Angus Lyons of Oliver’s Real Food Racing of Australia kept his place at third in 17:04:57 and Eritrean Daniel Habtemichael of 7-Eleven Cliqq-Air21

by Roadbike Philippines stayed at fourth in 17:05:32.

Filipino Marcelo Felipe also of 7Eleven remained as the top Filipino rider at No. 10 in 17:05:55.

Rounding up the top 10 were PGN Road Cycling Team’s Sandy Nur Hasan (17:05:44) and Aiman Cahyadi (17:05:51), Team Ukyo’s Kohei Yokotsuka (17:05:51) and Naoya Yoshioka (17:05:53) and Team Sapura Cycling’s Muhsin Al Redha Misbah (17:05:54). In the team race, Team Ukyo stuck to No. 1 with a total clocking of 51:15:11 followed by Taiyuan Miogee Cycling Team at second with 51:18:12 and PGN Road Cycling Team of Indonesia at third with 51:18:48.

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EGAZPI CITY, Albay—Aussie Jessie Coyle of Team Nero Bianchi of Australia outsprinted Malaysian Adian Mohd Shukri of Team Sapura Cycling of Malaysia to the finish to rule Stage 4 even as Dutchman Jeroen Meijers of Taiyuan Miogee Cycling Team of China clung to the Air21 purple jersey in the 10th Le Tour de Filipinas here on Monday.

The 24-year-old Coyle bucked a sore rib he sustained from a Stage 2 crash a couple of days back to edge the 21-year-old Mohd in a frantic ending to reign supreme in the 183.7-kilometer, Legazpi-Sorsogon (via Gubat)Legazpi Stage 4 with both submitting the same clocking of four hours, 28 minutes and 41 seconds.

German Mario Vogt, Mohd’s teammate who ruled the Pagbilao-Daet Stage 2 on Saturday, claimed his second podium finish and wound up at third in 4:29:13, which was the same time registered by the peloton that included Meijers—the individual general classifications leader. When Coyle reached the balloon arc at the finish, he screamed in jubilation as he claimed his very first lap win in an International Cycling Union (UCI) race.

“It’s my first UCI win, it’s an amazing feeling because it is such a strong field,” said Coyle, who hails from Sydney. “It’s awesome to get this kind of result and seeing that my hard work, as well as the whole team is paying off.”

JESSE COYLE of Team Nero Bianchi (center) claims the Stage 4 victory after beating teammates Adian Mohd Shukri (left) and Mario Vogt of Team Sapura in a wild finish in Legazpi City. Stage 4 took riders from the capital of Albay to Sorsogon (via Gubat) and back. STEPHANIE TUMAMPOS For Meijers, who took the lead after topping Stage 1 in Tagaytay on Friday, employed the same tactic he did in Stage 3 and checked every attempt launched by his closest pursuer, Singaporean Goh Choon Huat of Terengganu Inc. TSG Cycling Team of Malaysia, to keep his stranglehold of the top spot.

After four grueling stages, Meijers remained untouchable at No. 1 with an aggregate time of 17:03:19, while Go stayed at No. 2 in 17:04:04.

Meijers could end up using the fifth and final stage, which will still start and end here in Legazpi but will pass through Donsol beach, as his coronation ride as

his 45-second lead over Goh could be safe enough to preserve the win. Unless, of course, something untoward happened to the big guns in this event sponsored by Air21, Cargohaus, NMM, Ufreight and SPL, and backed by the Philippine National Police, Armed Forces of the Philippines and Disaster Risk

FOREIGN, LOCAL ACES VIE IN NEGROS TOURNEY A

37-player strong foreign contingent, including three Thais, hopes to squeeze its way through a slew of local aces and the hazard-laden, tree-lined course here in pursuit of a championship in the ICTSI Negros Occidental Classic, which gets under way on Wednesday at the Negros Occidental Golf and Country Club (NOGCC).

Kammalas Namuangruk and Tawan Phongphun, two of the top foreign qualifiers in the recent Philippine Golf Tour (PGT) Q-School, finally get the chance to slug it out with the PGT campaigners after missing the first two legs of the four-stage Visayan swing of the circuit with the former out to better his strong third place effort in PGT Asia leg in Luisita in April.

Aussie Fidel Concepcion also tries to ride the crest of his fifth place finish in last week’s Bacolod stop of the tour put up by ICTSI together with Spain’s Marcos Pastor, who is raring to atone for his final round struggle after sharing the Bacolod Challenge lead in

Cignal-Ateneo seeks to step closer to title

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IGNAL-ATENEO aims to inch closer to the 2019 Philippine Basketball Association D-League crown when it battles Centro Escolar University (CEU) on Tuesday in Game Two of the best-of-five Finals at Ynares Sports Arena in Pasig City.

The Blue Eagles handily beat the Scorpions, 101-66, in what was easily the most lopsided Finals game in the developmental ranks history last on Thursday.

Isaac Go led the way in the mauling with 17 points on a four of six shooting from threes, as CignalAteneo went 16-of-38 from downtown in the game.

But as dominant as the series opener was, the Blue Eagles know that overconfidence will lead to their downfall, no matter how favored they are in the series.

“We could not take them for granted because they’re in the Finals for a reason. We just wanted to make sure that we don’t get complacent,” Deputy Coach Sandy Arespacochaga said.

Go, Thirdy Ravena, and Angelo Kouame will once again lead Cignal-Ateneo in the 4 p.m. tilt.

CEU, meanwhile, admits that it was intimidated by its fancied foe, which is why Coach Derrick Pumaren urged his crew to give its all to not fall behind in a 0-2 hole.

“We just have to believe that we can compete with them. We have to show that heart and fight on Game Two,” he said.

Maodo Malick Diouf will be the shining light for the Scorpions, as he’ll be joined by Rich Guinitaran and Dave Bernabe in shooting for the upset.

the middle rounds.

Pastor is particularly thrilled over tackling the tight par-72 Marapara layout he described as good but which requires a lot of strategies to produce good scores in all four days especially if the winds come into play.

“The course is in great shape and well taken care of,” Pastor said. “But golf is golf until you finish the last hole. If you can get a good game, it’s easy to hit birdies. But to do it in four days, one has to stay focused, straight and play more strategic.”

That should also be the scheme of the rest of the foreign bidders in the P3-million tournament organized by Pilipinas Golf Tournaments Inc., including seven invitees in Aussies Jack Sullivan, Tarik Can, and David Gleeson, also a former PGT Asia leg titlist, Mateo Gomez and Sebastian Lopez of Colombia, Swede Sebastian Hansson and George Twyman of England.

All will also be practically training their sights

on one local player—defending champion Juvic Pagunsan, who has been installed as the player to beat following his emphatic seven-stroke romp at the Bacolod Golf Challenge in Murcia last weekend.

Meanwhile, Pagunsan and Pastor banner a select roster of pros teaming up with guests and officials of the event’s chief backers, including ICTSI, Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and M.Y. Shokai Technology Inc., in Tuesday’s pro-am tournament.

But a host of other local talents are also primed up for the event which offers a whopping P650,000 purse to the winner with former champions Zanieboy Gialon and Tony Lascuña, and young Ira Alido upbeat of their respective chances to stop Pagunsan and the emerge on top on Saturday.

“I never finished no lower than fifth here, making NOGCC one of my favorite courses,” said

Gialon, who won here in 2012 when he nipped Lascuña in a playoff. He actually refamiliarized himself with the course after missing the cut in Murcia, hinting at a winning 15-under card.

“I like my chances here. My ball striking is quite good although I still need to polish my [putting stroke],” said Lascuña, who won here in 2014 and is coming off a ninth-place effort in Murcia.

“I’ll try my best to play good the way I played last week,” said Alido, who put himself in contention in all four days in Murcia before finishing tied for third.

Frankie Miñoza, who outlasted young Miguel Tabuena in a record five-hole playoff here in 2016, is also in the fold along with Clyde Mondilla, Jay Bayron, Rufino Bayron, Jhonnel Ababa, Jerson Balasabas, Albin Engino, Keanu Jahns, James Ryan Lam, Reymon Jaraula, Mhark Fernando and local hero Robert Pactolerin.

LHUILLIER CONFIDENT OF BLU BOYS DESPITE LOSSES IN PRAGUE

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HE Philippines continued to struggle in the ongoing XVI World Baseball & Softball Confederation Men’s Softball World Championship 2019 in Prague, Czech Republic.

But Amateur Softball Association of the Philippines (Asaphil) President and softball patron Jean Henri Lhuillier is confident the lessons learned by the Blu Boys in this tournament will “provide the boys with the needed experience to become a world-class team three to five years from now.”

“We have to be patient with our Blu Boys same with what we did with our Blu Girls. Look at the

Youth team, Alas grace Forum

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HE Gilas Pilipinas Youth team to the Fiba Under-19 World Cup and the mental anguish of recovering from a devastating injury will be tackled in Tuesday’s session of the Philippine Sportswriters Association Forum at the Amelie Hotel-Manila.

National squad U19 standout Ariel John “AJ” Edu and Team Manager Andrew Teh are going to talk about the country’s campaign in the June 27 to July 8 meet in Heraklion, Greece during the forum presented by San Miguel Beer, Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp. Nlex playmaker Kevin Alas on the other hand, will discuss his ongoing recovery from a second ACL injury, the same one suffered by Golden State Warriors’ Klay Thompson in Game Six of the recent National Basketball Association Finals. Members are enjoin to attend the 10 a.m. session.

women’s team now. They are beating countries ranked in the top 10 in the world. We have the same vision for our Blu Boys,” Lhuillier said after the Blu Boys bowed to world’s No. 5 Argentina, 15-0, Sunday night.

Lhuillier added that Asaphil will continue its grassroots programs for both boys and girls like the intercollegiate and inter secondary meets, thew summer Grand Slam tournaments, and other essential activities to reach the objectives he has set for the national sport association.

Japan remains on top in Group A with a 3-0 card

followed by Argentina, New Zealand and Cuba with identical 2-1 cards.

Botswana, Czech Republic and Mexico have 1-2 records, also in Group A. Group B is being led by Canana and Venezuela at 3-0. Australia and USA are tied at 2-1. Denmark and the Netherlands have the same 1-2 records and South Africa and Singapore share the cellar at 0-3.

The Philippines, needing to win its remaining four games to advance, will next face Asian champion Japan at Svoboda Ballpark.

SAN BEDA CLOBBERS FEU IN PRESEASON CUP

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By Rick Olivares

he San Beda Red Lions got off to a good start, lost the lead then finished strong to advance to the semifinals of the Filoil Flying V Preseason Cup after a 60-52 win over Far Eastern University (FEU).

The Red Lions looked like they were going to steam roll the Tamaraws when they raced to a 17-2 lead early in the first period behind 10 points from James Kwekuteye.

FEU came back behind the quarterbacking of Alec Stockton but somehow San Beda managed to stay afloat, 19-12, after the first period.

FEU stayed within striking distance and finally tied the match at 42-all after the end of three quarters of play.

But San Beda came alive defensively to start the fourth forcing an airball, two turnovers and two 24-second shot clock violations. By the time

FEU got on the board with a Stockton free throw, the score was at 49-43 for San Beda, and four minutes and 12 seconds had elapsed.

FEU found its second wind behind Hubert Cani, 52-46, at the 3:50 mark. After a Clint Doliguez airball trey attempt, FEU had a chance to cut the lead but Cani turned the ball over and Evan Nelle scooted in for a lay-up and two big points to ease the pressure, 54-46, time down to 2:08. That sparked an 8-0 for a 58-48 lead with 33 seconds left. Wendell Comboy hit a three and a free throw but Calvin Oftana sealed the win for San Beda with two free throws with 19.5 seconds left.

“We started well, but our second unit was not able to hold on to the lead,” described San Beda Head Coach Boyet Fernandez who is in his fifth season with the Mendiola-based team.

“When our starting five returned, we were able to stabilize the lead with Evan [Nelle] showing his leadership.”

FOTON TARGETS SECOND WIN

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OTON parades its retooled roster while F2 Logistics shoots for its second win when they battle separate foes in the Philippine Superliga All-Filipino Conference on Tuesday at the Filoil Flying V Centre in San Juan.

New-look Tornadoes clash with Sta. Lucia at 4:15 p.m., while the Cargo Movers take on PLDT Home Fibr in the 7 p.m. nightcap of this prestigious women’s club tourney bankrolled by SOGO, Eurotel, PCSO, Cocolife, UCPB Gen, Mueller, Senoh, Asics, Bizooku and One Sport.

Meanwhile, Generika-Ayala and Marinerang Pilipina seek to bounce back from their openingday setback when they collide in the 2 p.m. encounter in this midseason tourney that also has Team Rebel Sport as official outfitter and Mikasa as official ball.

Filipino-American Kalei Mau didn’t see action in the opening day for the Cargo Movers as Head Coach Ramil de Jesus gave her a little more time to adjust and study his system.

Still, the Cargo Movers remained unstoppable dominating the Lifesavers in straight sets, 25-12, 25-21, 25-17, on Saturday.

Mau remains a game-time decision, but de

Jesus has a deep roster with Kianna Dy returning form injury to join the star-studded core of Aby Marano, Desiree Cheng, Majoy Baron, Ara Galang and Dawn Macandili.

“Having my players from La Salle and with Kianna returning is a big help,” said De Jesus, who won the Grand Prix silver despite a depleted roster. “At least now I can rotate a lot of players.”

It, however, won’t be a walk in a park for F2 Logistics as PLDT is tipped to bring its experience from a pocket tournament in Perth, where Gretchel Soltones, Aiko Urdas, Jasmine Nabor and Jerili Malabanan battled some of the best club teams in the city.

The Tornadoes, meanwhile, are not yet set to field sisters EJ and Eya Laure as both are still recuperating from their respective injuries.

Eya is still nursing a left ankle injury while her older sister, EJ, is not yet in perfect shape after sustaining a shoulder injury two years ago.

But Foton will remain a force as new recruits Laizah Bendong, Marian Buitre and Justine Dorog join mainstays Jaja Santiago, Dindin Manabat, Mina Aganon and Maika Ortiz at the attack zone.

Cignal HD guns sixth straight win

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IGNAL HD hopes to stay in sync as it faces VNS Volley Club (VC), gunning for a sixth victory in row even as PLDT and Air Force clash in a duel of top teams in the Spikers’ Turf Reinforced Conference at the Paco Arena in Manila on Tuesday.

The HD Spikers rolled past their first five rivals in imposing fashion, including four in straight-set romps, making them the slight favorites to get past the VNS VC Griffins, down in the 12-team field with just two wins to show in six starts.

Game time is at 5 p.m. with the Marck Espejo-led HD Spikers hoping to shrug off the effects of a nine-day layoff and dish out another explosive outing against the Griffins.

PLDT and Air Force, meanwhile, gear up for a fierce showdown at 4 p.m. with the former, led by John Vic de Guzman, Mark Alfafara and Paolo Pablico, shooting for its sixth win against a loss and the latter, to be bannered by Alnakran Abdilla, Kim Malabunga and Jeffrey Malabanan out to improve on its 4-1

mark in the third season of the country’s premier men’s volley league organized by Sports Vision.

The 1 p.m. opener pitting Army and Navy is also expected to go down to the wire with both teams breaking off their tie at 4-2.

The Army Troopers are actually coming off a tough win over the Animo Green Blazing Spikers, rallying from a set down to carve out a 20-25, 27-25, 25-21, 25-19 decision with skipper Patrick Rojas leading their fightback with 17 hits and Antonio Torres, Karl Ramirez and Michael Reyes combining for 35 points.

Navy also hacked out a similar comeback-behind four-set win over VNS VC, 18-25, 27-25, 25-21, 25-14, with Gregorio Dolor and Bonjomar Castel putting in a combined 30-hit effort.

PLDT also pulled off a four-setter over Coast Guard, 25-20, 28-26, 22-25, 25-19, with De Guzman, Alfafara and Pablico expected to sustain their top form against the Air Force side that netted them a combined 42-point production.

“The challenge was for the team to play good defense and get our opportunities through them,” Fernandez added whose team enters the semifinals with an eight-match winning streak.

They will face the Adamson Soaring Falcons who disposed of San Sebastian College Recoletos behind the duo of center Lenda Dounga and point guard Jerom Lastimosa, 81-61.

Sports

URUGUAY’S Nicolas Lodeiro scores his side’s opening goal against Ecuador during a Copa America Group C soccer match at the Mineirao stadium in Belo Horizonte, Brazil, on Sunday. AP

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| Tuesday, June 18, 2019 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

URUGUAY BLANKS ECUADOR

By Débora Rey

The Associated Press

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ELO HORIZONTE, Brazil—Uruguay started the Copa America in style, showing why it’s considered a top favorite for the South American title.

With Edinson Cavani and Luis Suarez in top form, Uruguay earned a comfortable 4-0 win over 10-man Ecuador in its opening match on Sunday.

Cavani, Suarez and Nicolas

Lodeiro scored in the first half, and an own-goal by Ecuadorean defender Arturo Mina after halftime sealed the victory for a dominant Uruguayan squad in the Group C match at the Mineirao Stadium.

“It was an important first step for us,” Cavani said.

“We have to try to keep this momentum during the rest of the tournament.”

Uruguay played with an extra man from the 24th minute after Ecuador’s Jose Quintero was red-carded for elbowing Lodeiro

during a ball dispute. Quintero was initially given a yellow card, but video review determined he deserved a red.

Uruguay was already in control when Quintero was sent off at the Mineirao, which held a small crowd of about 13,000 people.

Lodeiro opened the scoring in the sixth minute, controlling a pass from Suarez inside the area and lobbying the ball over a defender before finding

the net.

“After the red card the game opened up and we dominated,” Lodeiro said. “It was an important opening victory.

We have to keep going game by game, always trying to improve.”

Cavani had two closerange attempts saved by Ecuador goalkeeper Alexander Dominguez before finally scoring with a volley in the 33rd, then Suarez added to the lead after a corner kick in the 44th.

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ARIS—France hit its first goal by advancing to the round of 16 at the Women’s World Cup. Now the host nation wants to make a statement by rolling through group play undefeated.

France closes its Group A play on Monday against Nigeria in Rennes, and Corinne Diacre expects her squad to have a 3-0 record at the conclusion.

“Our goal is to try and top the group, even though a draw would suffice,” Diacre said on Sunday.

“We are going to go out and try to win the match because that’s always good for confidence.”

France opened the tournament with a 4-0 victory over South Korea in front of a sold-out crowd in Paris, then followed with a 2-1 victory over Norway, with raucous fans backing the national team.

“We are delighted that people are interested in women’s football,” Diacre said. “We know that the women’s game has developed significantly over the last several years. Clearly people identify with the game and are turning out in big numbers, and clearly we are very pleased with that.”

But she wasn’t pleased with the way France played against Norway, a performance she said “wasn’t quite as convincing” as the opener and is incentive for a strong match against Nigeria. Diacre acknowledged she will tweak her lineup on Monday but gave no details as to what she’s looking for beyond a victory.

“Given that we are trying to win our third straight match, we need to stay with the same dynamic,” she said. “I don’t know how many

The fourth goal came when Mina as he tried to clear a ball crossed into the area in the 78th. The goal also had to be confirmed by video review.

Uruguay had two goals disallowed for offside, one in each half.

Ecuador finished with only on shot on goal, coming in the first minute of the match.

“They were better than us in every aspect,” Ecuador Coach Hernan Dario Gomez said.

“Uruguay is a great team, very experienced.”

Guest Japan and two-time defending champion Chile will play the other Group C match on Monday in São Paulo.

Uruguay is the Copa America’s most successful team with 15 titles, one more than Argentina. Its last Copa America title was in 2011.

Ecuador made it to the quarterfinals of the 2016 Copa America.

Uruguay next faces Japan on Thursday in Porto Alegre, while Ecuador takes on Chile in Salvador.

COPA AMERICA: EMPTY SEATS CONCERN ORGANIZERS

R FRANCE’S Eugenie Le Sommer celebrates with France’s Amel Majri after scoring the second goal on a penalty kick during the Women’s World Cup Group A soccer match between France and Norway in Nice, France, last week. AP

France looks to sweep group play changes. I’m not going to tell you either way. We want to remain competitive so we are going to put out a strong starting 11.”

Norway beat Nigeria 3-0 in its opener, but the nine-time African champions rebounded with a 2-0 win over South Korea. Nigeria remains the only African nation to have qualified for every Women’s World Cup since the tournament began in 1991.

The squad, ranked 38th in the world, is in play for one of the final spots in the round of 16.

Francisca Ordega is among the many Nigerian players still haunted by an 8-0 loss to France last year, and the forward said her squad wants revenge.

“We are not scared of France,” she said. “I like challenges.”

GROUP B FINALES: Play begins on Monday with simultaneous Group B matches.

China faces Spain at Stade Oceane in Le Havre, France, while South Africa plays Germany at Stade de la Mosson in Montpellier. The match between China and Spain is for the second group qualifying spot because Germany has already advanced to the knockout stages.

Spain can draw and still advance due to its goal differential.

China lost its opening match to Germany but beat South Africa to earn a chance at advancing to the next round.

Germany is 2-0 but was

lackluster in its win over Spain.

South Africa is 0-2 and must beat Germany to advance, but the squad is winless in its last 12 matches.

SOUTH KOREA-NORWAY: The second Group A match goes off at the same time host France will be playing Nigeria.

It’s a lopsided matchup between South Korea and Norway at Stade Auguste-Delaune in Reims, as South Korea essentially has been eliminated.

South Korea has lost to France and Nigeria, and the squad is winless and pointless.

Norway lost on a penalty to France but the team can advance if it beats South Korea. AP

IO DE JANEIRO— The head of South America’s soccer governing body is worried about empty seats at the Copa America tournament in Brazil. Some players have said they can comfortably hear instructions from their coaches on the sidelines.

South American Football Confederation (Conmebol) President Alejandro Dominguez said on Sunday he believes the attendances will improve as the tournament advances.

More than 46,000 fans paid an average of $125 per ticket at Brazil’s opener against Bolivia, but at least 22,000 seats were empty at the Morumbi Stadium for a match that organizers initially said was a sellout.

Sunday’s 2-2 draw between Qatar and Paraguay saw 20,000 fans at the 87,000-seater Maracana.

The two matches played on Saturday also brought disappointing attendances.

Only 11,000 were at Porto Alegre’s 60,000-seater Arena do Gremio to watch the 0-0 draw between Peru and Venezuela. Later that

day, 35,000 fans were at 50,000-seater Fonte Nova to watch Lionel Messi’s Argentina lose 2-0 to Colombia in Salvador.

Organizers said before the match it was sold out.

“It worries us, of course it worries us,” Dominguez said after a Conmebol event in Rio de Janeiro, adding “I think it will improve.”

The attendance at Belo Horizonte’s Mineirao stadium also looked small for Uruguay versus Ecuador on Sunday night.

Brazil’s TV Globo commentator Luis Roberto said, “it is not that people don’t want to be here,” and singled out ticket prices, with even the cheapest ones at $30 around double the price of tickets for Brazilian national championship matches.

Brazil’s minimum wage this year is at $256, with little change in comparison with previous years because of the country’s enduring economic crisis. More than 13 million people are unemployed in the Copa America host nation, far worse than when it staged the 2014 World Cup. AP

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Almighty God

EAR God, You fill our hearts with rejoicing at the ascension of Christ, Your Son. In hope we pray: Lover of justice, receive our prayer. Clothe Your Church with power to heal the sick, comfort the troubled and guide the young. Empower us to be heralds of the good news and ambassadors of peace and reconciliation. Restore light and peace to all peoples and places devastated by violence, war or terrorism. May God draw our gaze toward Christ and lead us to share in His glory forever and ever. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

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BRIA Homes aims to dominate mass housing in Laguna

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You got the new house! Now, how do you afford to furnish it?

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CIRCLES: LIZANNE UYCHACO AND THE ART OF LUCK D4

By lauRa MCMullen NerdWallet

ONGRATS on saving up for that down payment! And hats off for committing to mortgage payments, homeowners insurance and property taxes. Now for your reward: home sweet, sparsely furnished home.

Furniture shopping may be the last thing you want to do, but it may be necessary if you moved into a bigger space or parted with unwanted goods in that process. Avoid overspending with these strategies.

STICK TO CASH EARMARKING savings for furniture can help homeowners pay for it in cash. And that’s the “absolute best way” to buy, says Justin Nichols, certified financial planner and director of operations at Garrett Planning Network. How much to save for furniture depends on your needs. (More on that later.)

If you already bought the house and didn’t budget for furniture, do what you can to stick to cash—and live with some open space while you save. “In the big scheme of things, it’s OK for a room to be sparsely appointed or even sit empty for a while as you save to pay cash,” Nichols says.

If you can get a credit card with a no-interest promotional period, and you know you can pay off your purchases in that time, that’s the next best option, Nichols says.

The worst choice? Renting-to-own furniture, he says. The Federal Trade Commission (FTC) warns against it, too. From the FTC web site: “[B]uying on a

rent-to-own plan can cost double or triple what you would pay for the item with cash, on layaway, or on an installment plan.”

PRIORITIZE PURCHASES IDENTIFY and buy whatever essentials are missing from your new home first. “Formulate your strategy around your most urgent family needs,” says Dan DiClerico, home expert at HomeAdvisor, a digital marketplace for home services. Those needs could include a kitchen table if you never had one in your small apartment, for example, or a crib if you’re expecting a baby.

Next, shop for a few big, functional pieces. “Even if you can’t afford to fill the space with furniture, adding a large rug will help the space look full,” says Betsy Helmuth, interior designer and owner of the Affordable Interior Design firm. Rugs also protect your floors and serve as a “decorative statement,” she says. Helmuth suggests saving money by choosing synthetic fibers rather than wool.

A sofa, preferably a sectional, will also make your home feel fuller—and cozier, Helmuth says.

INDULGE IN AFFORDABLE EXTRAS IF you have cash to spare, buy a few items that are both practical and decorative. These can make an unfamiliar house feel like home and show off your style. For example, Helmuth says, lamps are like “sculptures for the room,” and, unlike overhead lights, they “create cozy pools of light on a human level.”

Drapes are an “affordable way to add visual interest to your walls” and “soften up a space,”

Helmuth says. She also suggests hanging a few prints, even if they’re placeholders until you can afford nicer, more expensive art. Consider painting the walls, too, which “immediately infuses personality,” Helmuth says. “You will not want to paint later when you have furniture in the space.”

DON’T PAY FULL PRICE YOU can sometimes save a few hundred dollars by negotiating furniture prices, DiClerico says, particularly on “big-ticket items,” like sofas and tables.

At independent retailers, he suggests mentioning your interest in supporting local businesses when you haggle. At big-box stores, you’ll have better luck requesting discounts on floor models with wear and tear, he says. Take advantage of price-matching, coupons and seasonal sales in January, July and holiday weekends, too, he adds.

Warehouse clubs have some “pretty amazing deals,” DiClerico says, although selection may be limited. Furniture from thrift stores, as well as Facebook Marketplace, Craigslist and Nextdoor, can also be inexpensive. And, of course, you can’t get any cheaper than hand-me-downs from family and friends.

While paying little for furniture may be financially responsible, Helmuth warns against filling your new home with stuff you don’t love just because it’s cheap or free. “You start creating a space you’re not crazy about,” she says, adding that getting rid of furniture once you own it can be tough. Whatever you buy, she says, “keep in mind it’s going to stay longer than you think.” AP

LAGUNA, one of the most progressive provinces south of the Metro, has long been considered a prime residential location, thanks to its proximity to Metro Manila. The growing business and employment opportunities in Laguna have also spurred the locals—and townsfolk from neighboring municipalities— to seek work in the province. And because of Laguna’s rich history and cultural heritage, it has, likewise, become a popular tourist attraction.

It is no surprise, then, that even people who work in the Metro and nearby provinces are looking to settling down in Laguna. Due to this exciting development, BRIA Homes, the fastest-growing mass housing developer in the Philippines, acknowledges the demand for superior quality but affordable homes in this prosperous province.

To address this need, BRIA Homes offers six property developments in Laguna to prospective homeowners which are available in Calamba, Calauan, Santa Cruz, San Pablo and Alaminos.

Those searching for homes in Calamba can check out BRIA Homes Calamba, a community in Barangay Bañadero with 33 hectares of land, offering 2,556 units; or BRIA Homes Calamba Executive, in Barangay Majada Out, which sprawls on 17 hectares of land, offering 1,269 units.

BRIA Homes Calauan, another BRIA community in Laguna, is in Barangay Mabacan. It stands on 12 hectares of land and offers 1,401 units. Its strategic location along the Calauan-San Pablo Highway makes it a nice investment for future homeowners.

For residents eyeing a home in Santa Cruz area, BRIA Homes Santa Cruz is on the Calumpang-Santa Cruz road in Barangay San Jose, and offers 1,359 units on 11 hectares of land. BRIA Homes has also launched a 19-hectare housing development in San Pablo. This community is in Barangay San Gregorio, San Pablo, Laguna, which offers 2,503 units.

In Barangay Del Carmen in Alaminos, BRIA Homes offers a community set on 10 hectares, with a total of 1,191 residential. Homeowners can enjoy the facilities of each subdivision which includes a covered basketball court, landscaped gardens, parks and playgrounds.

To ensure safety and security, BRIA Homes provides 24hour security system, CCTV cameras and a perimeter fence around the subdivision.

Future BRIA homeowners in Laguna have a wide set of affordable housing options, ranging from row houses, town houses and single firewalls.

BRIA Homes is a subsidiary of Golden Bria Holdings Inc., reportedly the third-largest real-estate company in terms of market capitalization valued at more than P200 billion.

‘BALAI HARDIN’ FURNITURE DESIGN EXHIBIT AT S MAISON THE Industrial and Interior Design students of Mapua University’s furniture design class recently showcased how furniture can convey the mood of the past while demonstrating modern approaches during the recent “Balai Hardin” exhibit at S Maison.

A joint project of Mapua University’s Industrial and Interior Design programs, and S Maison, Balai Hardin, which means house garden, featured vignettes that represent a gardenlike interiorscape in a cityscape setting. The exhibit brought back the days when life was simpler and modest, thus taking inspiration from the haciendas of yore for interior vignettes, and setting the mood for an escape from city life.

Taking inspiration from architecture, childhood memories, and nature, the young designers used various materials including bentwood and Philippine mahogany. Various factors were taken into consideration in the designs like typological, functional and ergonomic elements. The Balai Hardin experience conveyed the mood of the past through modern and multifunctional furniture pieces inspired by the elements of nature using local and sustainable materials.

SHOWN in its reverse form, the multifunctional JACMI can be utilized indoors and even outdoors as a seesaw in a playground or park.

S MAISON Marketing Officer Nikki Catindig and Building Administration Manager Gabriel Andres with SM Senior Vice President of the Marketing Communications Group Millie Dizon

REGINE LAVAPIE’S Fortune Cookie Chair can be used as a single chair or broken down into an outer chair, middle chair with storage and a stool.

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Danger, beauty, suspense in ‘The River’s’ wilderness

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By Julia Rubin The Associated Press

HE River, by Peter Heller (Alfred A. Knopf), which tells the story about two Dartmouth College students on a canoe trip gone badly awry, is partly an ode to the Northern wilderness, partly a survival how-to, and mostly a thriller—suspenseful and gut-wrenching.

Best friends Wynn and Jack take a late-summer trip to Canada, paddling down a river that winds through lakes and over rapids on its way to Hudson Bay. Like the river, author Peter Heller’s plot often takes its time, digressing to describe how the boys fillet a fish or make camp, or what the Northern Lights look like. But don’t get lulled: There’s action around the bend.

The two friends, both country boys, are experts in the woods and on the water, where they are self-proclaimed “minimalists”—no phones, no frills.

They also share “a literary way of looking at the world,” and frequently see it through the lenses of Edgar Allan Poe, Virgil, James Dickey and more.

Their leisurely trip turns into a harrowing dash toward safety when both nature and other people turn violent. Nature dishes up a massive forest fire that bears down on them.

The boys smell and hear the blaze long before they see it—the fleeing animals, the drifting smoke, the popping and hissing of trees.

Meanwhile, human mysteries lurk: Wynn and Jack hear a man and woman arguing on the bank as their canoe glides by in the fog; when they return to warn the couple about the fire, they find nobody there. Later, a man turns up at their camp downriver, alone.

Where is the woman?

Heller, author of previous novels including The Dog Stars and Celine, dives deep into the details of wilderness camping—so deep that sometimes you just want to jump ahead and find out what happens.

Likewise with his acute and poetic observations of nature. But he is setting the scene and establishing two likable and memorable characters in Wynn and Jack. Each brings a different perspective to the violence and tragedy they encounter.

River travel has often been a metaphor for writers. At one point early on, as the boys approach some rapids, Heller writes that “every river story they had ever read was just beneath the surface of their imaginations and must have fired them with extra energy and braced them, too, because at least half of those stories did not have happy endings.” n

‘Chasing the Moon’ takes a look at the history of rocketry

By Jeff Ayers The Associated Press THE book Chasing the Moon: The People, the Politics, and the Promise That Launched America into the Space Age (Ballantine Books), by Robert Stone and Alan Andres, a companion to the PBS film, showcases well-known individuals and some forgotten names that were just as essential in keeping the dream of sending a man into outer space. The first known scientific look at the practicality of rockets came in 1903 when Russian Konstantin Tsiolkovsky published a paper that used a mathematical formula to take the rocket’s mass to its velocity. He was a fan of Jules Verne’s From the Earth to the Moon, and while the idea of traveling in outer space and visiting other worlds was standard science fiction, Tsiolkovsky’s paper was the first to prove it could be accomplished. Sadly, his findings would take another 20 years to be appreciated.

A young man named Archie Clarke discovered a book when he was a teenager called The Conquest of Space.

He thought it was fiction, so what he found was completely unexpected as it showed that space travel was theoretically possible. It sparked his imagination, and it eventually led him to write classics, such as 2001: A Space Odyssey.

The book mentions the famous

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names like Wernher von Braun and Robert Goddard, but it’s also about Newton Minow, who believed the future of telecommunications was in using satellites.

The authors showcase the human side of what began as a flight of fancy and those pioneers that pursued the dream to see humanity reach the stars.

They embraced the chase to the moon and beyond. The book is a perfect appetizer to a stellar PBS documentary. AP

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Blake Shelton, 43; Carol Kane, 67; Isabella Rossellini, 67; Paul McCartney, 77.

HAPPY BIRTHDAY: Take care of unfinished business, updates and matters that can affect you mentally, physically or financially. Adopting a minimalist approach moving forward will ease stress and open doors that will lead to the people, places and things you want in your life. Trust in yourself, your beliefs and your future. Your lucky numbers are 8, 11, 20, 27, 34, 37, 46.

a

ARIES (March 21-April 19): You’ll need vision and ingenuity if you want to overcome someone applying pressure on you to do things you don’t want to do. Use experience, and refrain from offering too much personal information to anyone prying into your affairs. HH

b

TAURUS (April 20-May 20): Don’t wait for change to come your way. If you want something, make it happen. Set up a meeting with someone of consequence, or learn whatever you need to know to get what you want.

Choose your destiny. HHHHH

c

GEMINI (May 21-June 20): Listen to what others want, but only agree to what fits into your timetable. Walk away from drama and situations that will bring you down. Respect and love who you are.

Happiness is the result of doing what’s best for you.

HHH

d

CANCER (June 21-July 22): A conversation will bring positive results. Don’t be afraid to open up about the way you feel and what you want to do. The response you receive will help you recognize how best to handle someone manipulative or indulgent. HHH

e

LEO (July 23-Aug. 22): Participation doesn’t mean you have to divulge personal information. Being a good listener can help you determine what’s best for you without giving others an indication of what you plan to do next. A personal gain should be your intent. HHH

f

VIRGO (Aug. 23-Sept. 22): Shoot for the stars. Be open to new possibilities, and you’ll come up with a plan that will help you make a move that is cost-efficient, as well as beneficial.

Refuse to let anyone take advantage of you. HHHHH

A detective pursues justice in ‘One Small Sacrifice’ IN One Small Sacrifice (Thomas & Mercer),

by Hilary Davidson-photojournalist Alex Traynor lost his friend Cori to suicide a year ago. Detective Sheryn Sterling tried very hard to prove that Traynor pushed Cori off a ledge rather than the case closing with her jumping off a roof.

Even though he claims to have no memory of the events that resulted in Cori’s death, Sterling knows Traynor is guilty.

Traynor has moved on and is about to marry Emily, a doctor. When Emily disappears, Sterling investigates and discovers connections to Cori’s death. Now she’s certain Traynor is responsible, but can she prove it and put him away for good?

She starts to get different and varying statements from witnesses. Traynor swears he’s innocent and wants Sterling to find his fiancée. Has she made a mistake in believing he was guilty, or is he even more manipulative than she previously thought?

The story line veers between alternate points of view with Traynor and Sterling, and their perspectives on the same information provide different results. Writing the novel in this fashion amps up the suspense while also giving the narrative a complex and

compelling flair. In addition, Davidson does an admirable job of making a complicated issue such as PTSD relatable.

With an unpredictable ending and evidence that this is the start of a series, definitely check out One Small Sacrifice. AP

g

LIBRA (Sept. 23-Oct. 22): Go about your business without making a fuss. Your aim should be to free up enough time to enjoy doing something with someone you love. A physical change will make you feel good, but only momentarily if you overspend. HH

h

SCORPIO (Oct. 23-Nov. 21): Talks will bring about change. Making concise plans will convince others to help you get what you want. Don’t rule out paying a surprise visit to someone you feel may be waffling or who may try to disrupt your plans. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Take a moment to analyze a situation before you take action. Keep your distance from anyone who is being pushy or trying to entice you to get involved in something you shouldn’t. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Share your thoughts and feelings, and you’ll be offered workable options that will keep your plans moving along fluently. A trustworthy situation will encourage future projects, as well as a good recommendation from someone notable. HHH

k

AQUARIUS (Jan. 20-Feb. 18): If you need proof, fact-check the information you’ve been given. Downsize a project or plan if you feel the extent or cost involved has been underestimated. HHH

l

PISCES (Feb. 19-March 20): Get in the game. Trust in what and who you know to help you win. Question anyone bragging or making unrealistic promises. You will gain ground if you are practical and willing to take charge mentally and physically. HHHH BIRTHDAY BABY: You are original, adventuresome and demonstrative.

You are engaging and colorful.

‘don’t look down’ BY ROSS TRUDEAU The Universal Crossword/Edited by David Steinberg

ACROSS 1 Common first word 5 Dahs’ Morse code counterparts 9 Little bit 12 Grilled, in Guadalajara 14 Second, in a way 15 “Umbrella” singer, to fans 16 Open-source OS 17 Machu Picchu locale 18 Larger-than-life 19 Back-muscle builder in yoga class 22 “Am not!” comeback 23 Lon known as the Man of a Thousand Faces 24 Straight razor offering 28 Word repeated before “We all fall down!”

29 Bambi’s mother, e.g.

30 Channel that airs homers 33 \ (funny grammar book) 34 Fed. air quality group 37 Vikings’ and Cowboys’ org.

39 Yard tool 40 Feudal noble

2 Actress Tyler 4 44 Japanese port city 46 Staying afloat 50 Notorious cow owner 52 Goatee, e.g.

53 “Things will get better,” or a hint to 19-, 24- and 46-Across 57 Philosopher Descartes 58 Strong criticism 59 Old-timey photo tone 61 Doesn’t just talk 62 Big bash 63 Fragrant compound 64 Sound aptly hidden in “hush-hush” 65 Sunflower morsel 66 Arrange DOWN 1 Bad way to start?

2 “Like, not even!”

3 NBA champ Ginobili 4 Put on a pedestal 5 Oust, as a dictator 6 Phrase in beer ads 7 Drive-___

8 Kitchen #2 9 Do a respectful gesture 10 Get up 11 Touch-and-go 13 “Paradise City” frontman 15 Fix, as a bumpy street 20 Ben-Hur author Wallace 21 Article in rap titles 24 Get a cabbie’s attention 25 ___ buco 26 M’s alphabet position 27 Junior, maybe 31 Nudge 32 Not far off 35 Regular season enders 36 Financial ___ 38 Like some jeans and apartments 41 They’re drawn at night 43 Text alert option 45 The blues 47 Suffix with “green” or “hatch” 48 Made out 49 Cry of exasperation 50 Gumbo vegetables

1 Swamp parasite 5 54 Beekeeper played by Peter Fonda 55 Until 56 Jetty 60 Creative major

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, June 18, 2019

FRANCHISE fatigue came to a head this weekend at the North American box office with the releases of Men in Black: International and Shaft. The former took the No. 1 spot, but it’s a dubious distinction for the Tessa Thompson and Chris Hemsworth-led reboot which isn’t exactly the franchiserevitalizer it hoped to be.

IN this undated photo issued by Britain’s Prince Harry Duke and Duchess of Sussex of their six-weekold son Archie Harrison Mountbatten-Windsor that they shared on their Instagram account @SussexRoyal to mark Father’s Day, on June 16. AP

Meghan and Harry release Father’s Day photo of baby Archie LONDON—Prince Harry and Meghan, the Duchess of Sussex have released a photograph of their six-weekold son Archie for Father’s Day. The sepia-toned photo, posted on Sunday on the royal couple’s Instagram feed, shows the baby cradled in Harry’s arms and clutching his father’s finger.

The post is captioned: “Happy Father’s Day! And wishing a very special first Father’s Day to The Duke of Sussex.”

The couple posted a picture of the baby’s feet when Mother’s Day was celebrated in the United States last month to mark Meghan’s first as a mom.

The baby hadn’t yet been born when the UK had its Mother’s Day this year. Archie Harrison Mountbatten-Windsor was born on May 6 and is seventh in line to the British throne. AP

Franchise fatigue continues with ‘Men in Black’ and ‘Shaft’

L ‘THE UPSIDE DOWN’ ACCORDING TO CEBU-BASED FILIPINO ARTIST KEN HENSLY AS the world gets ready for Stranger Things Season 3, premiering on July 4, Netflix tapped 18 artists from around the world to interpret 18 different show episodes from Stranger Things Seasons 1 and Season 2. Cebu-based Filipino artist Ken Hensly created a poster interpreting Stranger Things Season 1, Chapter Eight: “The Upside Down” episode in his own unique style. The artwork was shared by @strangerthingstv on Instagram here and on Facebook here.

Ken is a graphic illustrator who takes inspiration from old comics, cartoons, animation and street design. With his keen sense of detail, he creates augmented surrealistic art marked by deep thoughts and curiosities. This passionate artist is a well-known apparel designer. He has his own streetwear company, called Kensuke Creations. Ken also designs album covers and merchandise for international bands.

“I’m a huge fan of the Stranger Things series. So much so that during my spare time, I’d do personal artworks of episodes that really resonated with me and upload them on my portfolio site. So when I first got the invitation to do an actual poster for them, I accepted it in a heartbeat.

My signature style is surrealistic in nature, which I think is very fitting to portray the paranormal, the bizarre and nostalgic familiar, the gritty and otherworldly dimension, and to convey the darkness and emotions each character had been struggling with. Coming from a small city down south of the Philippines, Cebu, it’s an honor to have been one of the people chosen to express my fandom and showcase my craft,” Ken shared.

Check out his Stranger Things fan art poster on Facebook (@KensukeCreations) and on Instagram (@kensuke.creations).

D3

By Lindsey Bahr The Associated Press

OS ANGELES—Brand familiarity isn’t everything when it comes to attracting audiences to the multiplex, and Hollywood is learning that lesson the hard way this summer with a slew of underperforming sequels and reboots. That so-called franchise fatigue came to a head this weekend with the releases of Men in Black: International and Shaft.

The writing may have been on the wall after neither an X-Men movie (Dark Phoenix) nor a Godzilla movie (Godzilla: King of the Monsters) could get moviegoers enthusiastic enough to turn out. But this weekend, down over 50 percent from last year, is the worst, yet.

“This was a rough weekend,” said comScore Senior Media Analyst Paul Dergarabedian. “We’ve had some big franchises that are not resonating with audiences or critics.”

And there’s a common denominator between all the recent disappointments: Poor reviews. All four have been certified “rotten” on Rotten Tomatoes.

Men in Black: International took the No. 1 spot in North America, but it’s a dubious distinction for the Tessa Thompson and Chris Hemsworth-led reboot which isn’t exactly the franchise-revitalizer it hoped to be. Sony Pictures on Sunday estimates the F. Gary Gray-directed film earned only $28.5 million

over the weekend against a reported $110-million production budget. The three previous Men in Black films all opened to over $50 million not accounting for inflation. However, international audiences are helping the bottom line with the film earning $73.7 million from 36 markets, bringing its global total to $102.2 million.

The weekend’s other big new release, Shaft, which introduces another generation to the franchise, couldn’t even manage to carve out a place in the top 5, which instead was populated mostly by holdovers.

The Secret Life of Pets 2 got the No. 2 spot in its second weekend with $23.8 million. Disney’s Aladdin, now in weekend four, took third with $16.7 million. Dark Phoenix placed fourth with $9 million and Rocketman coasted to fifth with $8.8 million.

Shaft, a Warner Bros. release, placed sixth on the charts, with a disappointing $8.3 million.

Directed by Tim Story, Shaft features Samuel L. Jackson reprising his role from almost 20 years ago and Jessie T. Usher as his son. It was made for around $30 million. Although critics did not praise the film, audiences who turned out (54 percent of whom were women) were more enthusiastic, giving the film an “A” CinemaScore.

Even some originals had a tough time this weekend. Amazon Studios expanded its Mindy Kaling and Emma Thompson comedy Late Night, which it acquired the North American rights to for a Sundance record of $13 million, to 2,220 theaters where it earned $5.1 million. “The real bright spots have been the smaller indies,” Dergarabedian said. “We think of summer as blockbuster season, but it’s turned into indie film season.”

Jim Jarmusch’s star-studded zombie comedy The Dead Don’t Die mostly survived its mixed reviews and opened to $2.35 million from 613 locations.

Documentaries like Echo in the Canyon and Pavarotti have been making a modest mark in limited release, and the acclaimed drama The Last Black Man in San Francisco expanded to 36 locations and earned $361,120. It expands further next weekend.

But the marketplace is hurting and it’s not a problem with the weekend, which last year saw

Incredibles 2 open to over $182 million, but with the major movies themselves. The disappointments have come, mostly, from “movies that just don’t deliver,” according to Dergarabedian.

But it’s too simplistic to fault all franchises and next weekend the marketplace will be singing a different tune when Toy Story 4 opens.

“Toy Story 4 is going to erase the memory of this very tough weekend,” Dergarabedian said.

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

Where available, the latest international numbers for Friday through Sunday are also included.

1. Men in Black: International, $28.5 million ($73.7 million international) 2. The Secret Life of Pets 2, $23.8 million ($8.5 million international) 3. Aladdin, $16.7 million ($47.5 million international) 4. Dark Phoenix, $9 million ($24.2 million international) 5. Rocketman, $8.8 million ($8.5 million international) 6. Shaft, $8.3 million.

7. Godzilla: King of the Monsters, $8.1 million ($14.1 million international) 8. John Wick: Chapter 3-Parabellum, $6.1 million ($6.2 million international) 9. Late Night, $5.1 million ($255,000 international) 10. Ma, $3.6 million ($2.3 million international).

Estimated ticket sales for Friday through Sunday at international theaters (excluding the US and Canada), according to comScore: 1. Men in Black: International, $73.7 million 2. Aladdin, $47.5 million 3. Dark Phoenix, $24.2 million 4. Godzilla: King of the Monsters, $14.1 million 5. My Best Summer (Zui Hao De Wo Men), $8.7 million 6. The Secret Life of Pets 2 and Rocketman, $8.5 million 7. Parasite, $7.8 million 8. John Wick: Chapter 3-Parabellum, $6.2 million 9. A City Called Macau, $4.1 million 10. Chasing the Dragon 2: Wild Wild Bunch, $3.4 million. n

‘ETO NA! MUSIKAL NAPO!’ BAGS 5 MAJOR AWARDS AT THE 11TH PHILSTAGE GAWAD BUHAY AWARDS THE musical Eto Na! Musikal nAPO!, coproduced by Globe Live and 9Works Theatrical (9WT), added another feather to its illustrious cap as it went home as one of the biggest winners during the 11th Philstage Gawad Buhay Awards, the biggest annual local theater event.

The hip, rip-roaringly funny musical comedy bagged a total of five major awards that include: Outstanding Musical Original Translation or Adaptation, Outstanding Original Libretto (Robbie Guevarra), Male Featured Performance in a Musical (Jon Abella), Male Lead Performance in a Musical (Jobim Javier), and Outstanding Sound Design (Rards Corpuz). This is the second year in a row that Globe Live and 9Works won the awards for Outstanding Musical and Male Featured Performance

in a Musical, and the first musical stint of Jobim Javier who scored the Male Lead Performance in a Musical award. Last year, Globe Live and 9Works Theatrical’s Newsies was also a big winner taking home Outstanding Production of Existing Material for a Musical, among others.

With music and lyrics from the triumphant trio of musical geniuses Danny Javier, Boboy Garovillo and Jim Paredes of the famed APO Hiking Society, Eto na!

Musikal nAPO! centers on the story of seven friends who joined a songwriting and singing contest for college students.

Set during the dark period of martial law, the friends were beset with the challenge of who will compose and arrange that perfect song for the competition, while they struggled with problems in

their personal lives.

The musical comedy, which recently ended its extended second run at the Maybank Performing Arts Theater in Taguig City, received rave reviews as it wowed audiences with an assortment of emotions from rom-com to nostalgia during its performances.

Other big winners at the 11th Philstage Gawad Buhay Awards were Himala: Isang Musikal, adapted from the seminal 1982 movie Himala starring the legendary Nora Aunor with eight awards, including Outstanding Ensemble Performance and Outstanding Direction. A Doll’s House, Part 2 from Red Turnip Theater went home with four while Philippine Educational Theater Association’s ‘night, Mother bagged three, including Outstanding Play.

D4

Art

BusinessMirror

Tuesday, June 18, 2019

www.businessmirror.com.ph

DIFFERENT WAYS TO SHOW PAINTINGS, PHOTOS TO BLIND PEOPLE

By JaneT MCCOnnauGhey The Associated Press NEW ORLEANS—As people at the American Alliance of Museums’ trade show passed their hands along the raised figures in touchable versions of a Vietnam War photograph, small metal sensors touched off recordings to explain whose picture they were touching and what had happened to him. At a nearby booth was a flat reproduction of a Van Gogh selfportrait with slightly raised, slicker areas to show both outlines and how brushstrokes swept or swirled within those outlines.

Museums nationwide are working to make their collections more accessible for people with disabilities, said Elizabeth Merritt, vice president for strategic foresight for the alliance, which represents museums of all sorts, from tiny local history museums to huge zoos. Hours when lights and noise levels are kept low for people on the autism spectrum are another example of inclusiveness, she said, as are web sites and smartphone apps designed to work with screen readers for the blind.

Not all touchable art is high-tech. The Singapore Art Museum commissioned three artists to make touchable adaptations of their own works, and plans more. But tech has a big role.

3D Photoworks, of Chatham, New York, was created by photographer John Olson to make his work and other two-dimensional art accessible to the blind and visually handicapped. The company has digital artists carve out contours for scanned art. After the models are created, small metal sensors are added to trigger narrations about the work and the figures within which they’re set.

“I’ve never seen anything like that, where it integrates touch and sound,” said Sophie Trist, 22, who has been blind since birth.

Her favorite among three artworks and a map was Romare Bearden’s collage Three Folk Musicians, showing two guitarists and a banjo player. Without audio, she said, “I wouldn’t have been able to tell the difference between a guitar and a banjo.... Whereas if it were only the sound, it wouldn’t be the full picture, either.” She appreciated hearing the banjo and learning that it was invented by enslaved Africans.

Trist, a resident of suburban Mandeville, Louisiana, and a rising senior at Loyola University of New Orleans, was among several members of the National Federation for the Blind with Olson, who has partnered with the federation for about a decade.

Other high-tech adaptations noted by the alliance are 3D models made by the Brooklyn Museum for the “sensory tours” it has held for years for blind or partly sighted patrons. That museum also offers tours with headsets to amplify the guide’s comments, as well as tours in American Sign Language. In Claremont, California, at the Raymond M. Alf Museum of Paleontology, described on its web site as the only nationally accredited US museum on a high school campus, students can scan fossils and create models of them.

The Louvre commissioned small low-relief models of parts of its exterior for exhibits about the museum’s own eight-century history, said Philippe Moreau of Tactile Studio’s Canada office, which did the work.

The studio’s many displays, diagonally across from Olson’s at the AAM expo, included one such model; the Van Gogh reproduction; a copy of a bust by French artist Jean-Baptist Carpeaux; and, from work for the Louvre of Abu Dhabi, a line drawing taken from a painting in a sacred Hindu text. It shows the buffalo demon Mahishasura fighting the many-armed goddess Durga. The outlines are in slick, slightly raised plastic, with text and Braille labels including “Sword and shield,” ‘’Arrows” and “Leaping lion”—the animal on which Durga is riding.

Though created to give blind and visually handicapped people a look at flat art, the works also offered a new view to the sighted.

Court Myers, a technical consultant for the American Indian Cultural Museum in Oklahoma City, ran his fingers across a set of “brushstrokes” in Tactile Studio’s Van Gogh. “Wow!” he said. “You go up to his Starry Night and want to feel what those swirls look like.” He was also blown away by The Tank—a 4-foot-wide blowup of Olson’s famous photograph of wounded marines getting emergency treatment on top of a tank during the Tet offensive in February 1968.

The sensor for a marine shown holding a wounded man invoked an interview in which he explained why he had a toy squid in his helmet band.

The combination of hearing, touch and sight changed the sensation itself, Myers said: “For a second there, it felt squiddy.” n

Lizanne Uychaco and the art of luck CIRCLES JT NISAY

jtnisay@gmail.com

V

ISUAL artist Lizanne Uychaco remembers the enduring advice of one her art professors. The true hallmark of an artist finding his or her niche, she was told, is when signing the artwork becomes redundant.

“People shouldn’t have to read the signature to know who made the piece,” Uychaco recalled. “When it comes to that point, it means the artist has found a place in the art world.”

With a trademark style inspired by her identity and informed by different techniques, Uychaco is thriving in hers. The Filipino-Chinese artist radiate positivity, prosperity and all those age-old symbols are believed to attract and promote in her art by presenting the elements of feng shui through modern mixed media.

Her diverse art background spans from sculpture to pottery, from jewelry-making to gold-gilding, as well as painting in watercolor, oils and acrylics.

“I’ve been painting since I was a child,” she said, adding that whenever she didn’t have crayons and watercolor in her hands, she would go for her mother’s

dresser and get her lipstick.

“She would spank my hand, and now I know why I don’t like wearing makeup,” Uychaco said, laughing.

It was also during her childhood when she picked up the most prominent element in all of her works. Uychaco grew up in Pasay with the constant presence of a feng shui master. When she was five, Uychaco fell ill, and the feng shui master, a friend of her father’s, handed her a “magic coin.”

It was nothing more than the prototypical feng shui coin: golden, round and with a square hole in the middle. She was told to wear it and was promised the coin would not only heal her but make her strong, lucky, happy and successful.

Today, Uychaco holds two master’s degrees in business administration and economics from Ateneo de Manila University and the University of Asia and the Pacific. On weekdays, she serves as the senior vice president of SM Investments Corp. On weekends, she usually paints.

To attribute her current success with a childhood promise would be poetic, but nothing more.

Regardless, it’s a connection Uychaco fully recognizes and hopes to emulate by incorporating the image of the magic coin in her artworks.

“I started with a sculpture of the coin, showed it to the feng shui master, and he gave me his blessing,” Uychaco said. “That has started a niche for me, that there was actually a vacuum in that field. There was a community looking for feng shui art, to have good luck, but something more modern and more tasteful.”

Uychaco has been professionally presenting modern feng shui art for 26 years since being launched by Ayala Museum in a discovery series.

Managed by the Art Elements Gallery in SM Aura Premier, she usually holds one exhibit per year featuring eight to 10 pieces.

Last week, Uychaco rolled out 24 works in her biggest solo exhibition by far, as the featured artist of Conrad Manila’s ninth installation of its Of Art and Wine series. Titled Of Art and Wine: Heaven and Earth, the show also highlights the classic features of Pernod Ricard wines and spirits. The exhibit runs at the hotel’s Gallery C until August 11.

“With every Of Art and Wine exhibit that we open, we want to underscore Conrad Manila’s commitment to art and culture, and with Lizanne’s exhibit, our support in highlighting women and their outstanding achievements,” Conrad Manila General Manager Laurent Boisdron said, adding that the exhibit is one of their highlight events for the brand’s third anniversary month of June, and the 100-year celebration of Hilton Worldwide, the parent company of Conrad Hotels & Resorts.

Uychaco said the show was two years in the making with the number of pieces displayed.

Among the featured works is Prism of Happiness, a breezy depiction of a golden tree with varying shades of blue leaves, portrayed to bear fruits of feng shui coins. Another is Zen of Life. It is an entry that exudes opulence under a series that highlights the feng shui coin.

Despite being rooted in Eastern culture, Uychaco’s art also appeals not only to Asian collectors. She said Caucasians have also come to appreciate her work, saying art stands for itself.

“But of course, there are people who want to get the bonus for luck,” she said. “I guess to have luck on your side really makes you feel better.” n

IT’S A BEAUTIFUL WORLD: ‘ARTE AUTISMO FILIPINO ART AND PHOTO EXHIBIT’ AT GLOBE ART GALLERY A GREEN sanctuary was recreated in the middle of the Bonifacio Global City (BGC) concrete jungle to feature artworks by artists with autism.

Autism Speaks defines autism as having a broad range of conditions characterized by challenges with social skills, repetitive behaviors, speech and nonverbal communication.

While this condition is marked by a number of challenges, Arte Autismo Filipino chooses instead to celebrate the strengths of its featured artists, allowing them to shine. The exhibit opened on June 3 at The Globe Tower, Basement 1, The Globe Art Gallery in BGC. Rachel Harrison, an architect and social entrepreneur, is one of the staunchest advocates for persons with autism and disability. She owns Zambawood, a luxury resort in San Narciso, Zambales. And in order to provide an opportunity for employment to persons with disabilities (PWDs), Harrison put up Julyan Coffee Spot (bit.ly/2Iozga5) in a more accessible location near the school and public market in the same city. Julyan Coffee Spot is a café that serves delicious meals and snacks, hot coffee, frappes and lattes. Its namesake is Harrison’s son, who was diagnosed with

autism at the tender age of two.

Julyan is now 26, and his artworks are also on display in the exhibit. The works of Nina Bantoto, Vico Cham, Chico Joaquin, Samantha Kaspar and Daniel Sanchez are also featured at the event.

The exhibit is an auspicious moment for Harrison, who also plans to have multiple locations of Julyan Coffee Spot in order to provide a source of livelihood for PWDs. They’re already opening three branches in Metro Manila this year: The Globe Tower BGC (in June), Palma Street in Poblacion, Makati (in July) and Maysilo Circle, Mandaluyong City (later this year). The baristas are trained by Aida Sotto and Joahana Pimentel from Rotary Mandaluyong Uptown and San Juan Central.

It may be an ambitious plan, but it is something that Harrison believes is possible.

She abides by these words: “Choose Love. Choose Kindness.

Choose Fun and Purpose.”

“When everyone is working for what’s right and what’s good, the wonderful energy keeps flowing,” she says, a fierce believer in giving equal opportunity for everyone, including those with disabilities, to pursue livelihood. “We are absolutely delighted to find allies in our cause, which immensely

UNDERWATER Party Mosaic (2017) and TICKLE Me (2017) by Julyan Harrison.

helps raise awareness,” she adds.

One of these allies is Globe, the country’s No. 1 telecommunications company.

“Children with autism are indeed special.

Look at all the artworks on display. This goes to show that love and support go a long way in dealing with the disorder. Julyan and all the artists here are living examples of life’s beauty. We’re proud to host their

work here at the Globe art gallery,” says Yoly Crisanto, head of corporate communications and the chief sustainability officer of Globe.

The Arte Autismo Filipino Art and Photo Exhibit’s major sponsors are Globe, Estate Wine, Fujifilm, and it is supported by OLOF Plant Based food, Bravo!, Wrapsha and L’Entrecote.

The exhibit runs until June 26.