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2018 BANTOG DATA MEDIA AWARDS CHAMPION
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A broader look at today’s business n
Wednesday, June 19, 2019 Vol. 14 No. 252
‘BSP likely to pause monetary easing drive’ T
By Bianca Cuaresma
its monetary-policy meeting on Thursday. This, after slashing the overnight repurchase rate by 25 basis points in the previous meeting,
followed by staggered cuts in the banks’ reserve requirement ratios (RRR) weeks after. “We believe that the BSP will
”We believe that the BSP will pause at the June meeting to await further confirmation that inflation will return to its downward path, which would further cement their short-term and medium-term inflation targets.”—Mapa
pause at the June meeting to await further confirmation that inflation will return to its downward path, which would further cement their short-term and medium-term inflation targets,” Mapa said.
Teddy Locsin Jr.
FREE FIRE Philippine statement delivered by Foreign Affairs Secretary Teodoro L. Locsin Jr. at the 29th Meeting of States Parties to the UN Convention on the Law of the Sea, Agenda Item 8: Commemoration of the twenty-fifth anniversary of the entry into force of Unclos, June 17, 2019, Conference Room 1, UN Headquarters, New York.
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E thank the Secretary-General for joining us today in commemorating the 25th anniversary of the entry into force of Unclos. Continued on A6
By Jovee Marie N. dela Cruz
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@jearcalas
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PESO EXCHANGE RATES n
Unclos affirms the rule of law in maritime space
GMA to help Pampanga ‘megalopolis’ after politics
By Jasper Emmanuel Y. Arcalas
See “MDM,” A2
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See “BSP,” A2
Probe sought into MDM ‘health risks’ HE United Broiler Raisers Association (Ubra) may ask the Senate Committee on Agriculture and Food to look into their concerns over the temporary reduction of the tariff on imported mechanically deboned meat (MDM) of chicken. Ubra President Elias Jose Inciong told the BusinessMirror that they may seek the help of senators to address their concerns over chicken MDM, including the health risks posed by the product and the possibility that it could be used for technical smuggling. Inciong noted that unscrupulous traders and importers, who are into technical smuggling, misdeclare imported chicken leg quarters as MDM to avoid paying higher duties.
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HE Bangko Sentral ng Pilipinas (BSP) may decide to keep key rates unchanged in the upcoming monetary-policy meeting as officials await further confirmation that inflation is now on a downward path, according to an economist. In a recent assessment, ING Bank Manila economist Nicholas Mapa said the BSP is expected to veer away from more rate cuts in
2017 EJAP JOURNALISM AWARDS
D. EDGARD A. CABANGON (fourth from right), chairman and CEO of Eternal Gardens, shakes hands with Speaker Gloria Macapagal-Arroyo following the blessing and inauguration of the San Vicente Ferrer Plaza at Eternal Gardens Cabuyao branch on Tuesday. With them are (from left) Branch Manager Alexander Atienza, Eternal Gardens Vice Chairman Benjamin V. Ramos, Eternal Plans Inc. Vice Chairman and Chief Executive Officer D. Antoinette C. Cabangon Jacinto, Cabuyao City Vice Mayor Leif Opiña, former First Gentleman Atty. Jose Miguel Arroyo, Rev. Fr. Gomer Torres, Barangay Mamatid Chairman Erlinda Alcasabas, Cabuyao City Mayor Rommel Gecolea, and Eternal Gardens President and Chief Operating Officer Numeriano B. Rodrin. ROY DOMINGO
@joveemarie
HE will retire from politics but former President and now Speaker Gloria Macapagal-Arroyo vowed on Tuesday to help her home province of Pampanga by focusing on the development of what she envisions as a “megalopolis.” In an interview following the unveiling of the image of Transfiguration of Jesus Christ at the Eternal Gardens Cabuyao City, Arroyo said she wants Pampanga to become a business hub and financial district of Central Luzon. Arroyo also admitted that she was asked by the province to become its consultant. “They asked me to help them from time to time, to be a consultant. So, I’d be happy to do that. Tapos sinabi ko [Then I said] where I think I can help is to follow through on the implementation of [the] Pampanga Megalopolis Plan,” she added. According to Arroyo, the Pam-
panga Megalopolis Plan aims to address congestion in Metro Manila. She said the “vision for Pampanga” is for it to be a “counter-magnet for Metro Manila because it is already so congested.” The plan seeks to address major issues and challenges, as well as optimize the potential of Pampanga as an urban growth center. Arroyo, citing noted architect Jun Palafox, said the Pampanga megalopolis will be composed of various metropolitan areas. The Pampanga megalopolis is clustered into four: ■ The Agropolis (agriculturedriven cluster or center for food: Lubao, Guagua, Santa Rita, Bacolor, San Luis, San Simon, Apalit, Santo Tomas, Santa Ana and Magalang); ■ Aquapolis (water-drive cluster or center for waterfront development: Sasmuan, Macabebe, Minalin, Masantol and Lubao); ■ Aerotropolis (airport-driven cluster or center for business and logistics: Angeles City, San Fernando City, Mabalacat and Mexico); and See “GMA,” A2
US 52.1240 n JAPAN 0.4802 n UK 65.3426 n HK 6.6541 n CHINA 7.5261 n SINGAPORE 38.0300 n AUSTRALIA 35.7154 n EU 58.4779 n SAUDI ARABIA 13.8986
Source: BSP (18 June 2019 )
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A2 Wednesday, June 19, 2019
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Brownouts hit Luzon, grid put on red alert By Lenie Lectura
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@llectura
OTATIONAL brownouts were experienced in Luzon on Tuesday after the grid was placed on red alert notice, the 11th time since March this year.
The National Grid Corporation of the Philippines (NGCP) said the red alert lasted from 10 to 11 a.m. and from 1 to 3 p.m. Meanwhile,
a yellow alert notice was issued from 9 to 10 a.m., 11 a.m. to 1 p.m., 3 to 5 p.m. and 6 to 9 p.m. A yellow alert is issued when
operating reserves have dropped below the required 647-megawatt contingency in Luzon, or equivalent to the largest unit in Luzon, which is the 647-MW coal-fired power plant in Sual, Pangasinan. In a nutshell, a yellow alert means thin power reserves. This is the 32nd yellow alert since March this year. A red alert notice is raised when there is severe power deficiency and zero contingency reserve. Based on Tuesday morning’s forecast, peak demand in Luzon was expected to reach 11,114 MW as against an available capacity of 11,402 MW.
11
Number of times the Luzon grid was placed on red alert since March 2019 When the red alert is issued, power interruptions are expected. The grid operator said on Tuesday afternoon that manual load dropping (MLD) was implemented. As of 1:19 p.m., the Manila
SEC FILES RAPS VS. KAPA FOUNDER, PROMOTERS By Joel R. San Juan
@jrsanjuan1573
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HE Securities and Exchange Commission (SEC) on Tuesday officially sought the criminal prosecution of the founder and other officials of the Kapa-Community Ministry International Inc. (Kapa), who are being accused of machinating another Ponzi scheme involving P50 billion in investments of its more than 5 million members. Charged for violation of the Republic Act 8799, or the Securities Regulation Code were Kapa founder and President Joel A. Apolinario, trustee Margie A. Danao and Corporate Secretary Reyna L. Apolinario. Also named in the complaint for promoting the investment scam were Marisol M. Diaz, Adelfa Fernandico, Moises Mopia, Catherine Evangelista
MDM. . .
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He said Ubra will also urge senators to probe the chicken MDM utilization of local meat processors. Inciong said the high inclusion rate of MDM could lead to high calcium levels in processed meat products. “We will take action to point out the health [implications of MDM use] before the Senate Committee on Agriculture and Food,” he said in a phone interview on Tuesday. Inciong said Ubra may also write to the Food and Drug Administration (FDA) and request for a dialogue over the health concerns of his group over the use of MDM. His group will try to persuade the FDA to conduct a study on the meat processors’ use
Asean. . .
and Rene Catubigan. The complaint was filed after the SEC discovered that Kapa enticed its members to donate at least P10,000 in exchange for a 30-percent monthly “blessing” or “love gift” for life, without having to do anything other than invest and wait for the payout. The commission said the scheme being perpetrated by Kapa involved the sale or offering for sale or distribution to the public of securities, in the form of investment contracts as defined under Section 3 of the SRC. It said the respondents violated Section 8 (8.1) of the SRC, which prohibits the selling or offering for sale or distribution of securities without a registration statement filed and approved by the SEC. The respondents were also accused of violating Section 8 of the SRC, which states that “no person shall engage in
of MDM or consider crafting guidelines for its utilization. MDM is a key component for the manufacture of processed meat products, such as hot dogs and canned luncheon meat. Inciong issued the statement after the BusinessMirror reported that chicken MDM accounted for 22.5 percent to 27.4 percent and 26.3 percent to 35.3 percent of the costs to produce hot dogs and canned luncheon meat, respectively. These figures, he said, could mean that meat processors exceed the 20-percent standard set in other countries. Government officials and industry sources told the BusinessMirror, however, that the Philippines has no rules governing the use of MDM in processed meat products. What the Philippines crafted, they said, are rules on the protein, fat and calcium content of imported MDM in its raw form.
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well as to be more integrated through enhanced connectivity in the region and to be focused on sustainable development. Several important events are lined up for the summit, including Summit Plenary, Gala Dinner for the leaders, the Leaders’ Retreat and the 13th BIMP-Eaga Summit. Mahilum-West said there will be 16 outcome documents during the summit. Four of these will be adopted by the leaders: the Asean leaders’ vision on partnership for sustainability, Bangkok Declaration on Combating Marine Debris in the Asean region, Asean leaders’ statement on the Asean Cultural Year for 2019 and on the Asean Indo-Pacific outlook.
RCEP gaining currency
AS for the China-led Regional Comprehensive Economic Partnership (RCEP), Mahilum-West said they are still expecting the proposed freetrade deal to be concluded by this year. “Yes, the RCEP is gaining importance because of the trade friction between China and the US and we hope that RCEP would be concluded by this year. We hesitate now to say that we conclude it by the summit, you know a definite deadline, because when we don’t meet the deadline, then you know our credibility is a little bit questioned. So by this year, we hope that RCEP would be concluded,” she said. The DFA official also said at least two bilateral meetings are being arranged for President Duterte, which will likely include a meeting with Thai Prime Minister Prayut Chan-ocha. This will be the President’s third visit to Thailand since assuming office in 2016. His previous visits were in November 2016 and in March 2017. The President will leave Thailand on June 24.
the business of buying or selling securities in the Philippines as a broker or dealer, or act as a salesman, or an associated person of any broker or dealer unless registered with the SEC.” The regulator said, “Those who sell or offer securities to the public without the necessary license may be held criminally liable and accordingly sanctioned or penalized pursuant to the decision of the Supreme Court in the case of the SEC vs Oudine Santos on March 19, 2014, and within the definition of securities solicitation in the 2015 SRC Rules.” Likewise, the SEC is also asking the DOJ to prosecute Kapa for employing a Ponzi scheme, which is considered a fraudulent transaction prohibited under Section 26 of the SRC. Ponzi scheme is defined as an investment program that offers impossibly high returns and pays investors
Pleas ignored
FORMER Agriculture Undersecretary Segfredo R. Serrano told the BusinessMirror that the Department of Agriculture has repeatedly requested the Department of Health and its attached agency, the FDA, to assess the health risks of high MDM usage. Their requests, he said, fell on deaf ears. Under the Philippine Food Safety Act, the FDA was mandated to oversee regulations governing processed meat products. Proceedings of a Senate Committee on Agriculture and Food meeting held in 2014 indicated that a government technical working group (TWG) recommended limiting the MDM content of processed meat products to only 20 percent. A member of the TWG present during the meeting said that if the inclusion rate of the
Recto Bank. . .
Continued from A8
Lacson added that Pompeo had said the West Philippine Sea is “well within the area of the Pacific Ocean,” adding that the US is obliged to respond and will trigger the signed RP-US MDT to take effect. “Why didn’t the President think of asking for help?” Lacson asked. He said Manila can “proactively...invoke the MDT [in order to have a] balance of power” in the area. The senator promptly clarified that actually the President is not asking for help, as “we are just invoking the provision of the MDT, instead of just exercising his last option of surrender.” Lacson said Duterte had a tone of resignation when he wondered aloud, at his speech before the Navy, whether those calling for tougher action wanted him to send ships to the area, or “wage war on them?” However, Lacson said,“war is not an option here,”adding:“When we call on the US to abide by the provisions of the MDT, it is not praying for World War III. [What we’re saying is], the mere presence or [even just] a portion of the US Pacific Fleet should be enough to project a balance of power within the WPS.” Maybe then, he added, China will be more careful before “bullying Filipino fishermen or members of the Philippine Coast Guard or Philippine Navy.” In the same interview, Lacson held out hopes that the matter will be tackled in the upcoming Asean leaders’meeting in Thailand. Malacañang, he noted, had declared they have a manifestation
Locsin. . .
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He said the incident, “to put it diplomatically, highlights the moral and possibly legal—though one wouldn’t wager on it—imperative of coming to the rescue of persons in distress at sea. Article 98 of Unclos explicitly provides for the “duty to render assistance.”(Full text of Locsin’s speech in his “Free Fire” column, page A1). Locsin pointed out that the Philippines was one of the original signatories of Unclos in 1982, and ratified it two years later. “We have strongly supported and upheld Unclos because it provides a comprehensive legal regime for the oceans and the seas.” As the “constitution of the oceans,” it affirms the rule of law in
using the money contributed by other investors. If found guilty, the respondents may be sentenced from seven to 21 years of imprisonment plus a maximum fine of P5 million. The SEC explained that the penalty to be imposed against the respondents should be one degree higher than what is prescribed by the SRC, considering the use of Facebook and YouTube in the illegal investment scheme—an aggravating circumstance covered by the Cybercrime Prevention Act of 2012. “We shall never let up on our crackdown on investment scams, as we hold our mandate to champion and protect the interests of the investing public,” SEC Chairman Emilio Aquino said. The DOJ had earlier issued an Immigration Lookout Bulletin Order against the incorporators and officers of Kapa in a bid to prevent them evading possible prosecution.
MDM in processed meat products exceeds 20 percent, this could cause bone metabolism problems for consumers, particularly for children, since the raw material has high calcium content. Countries such as the United States and the European Union regulate the use of MDM in processed meat products due to calcium concerns. The US limits the content of pork MDM in hot dogs to 20 percent, but there are no restrictions for chicken or turkey MDM content. However, the US restricts the use of MDM in certain meat products and in food products for babies and toddlers. The EU has stringent labeling requirements as it requires manufacturers to disclose the MDM content in processed food so as not to mislead consumers.
that will be included in the Asean agenda. “It is a good venue. Any forum participated in by other countries that are similarly interested in certain issues, is a good forum.” Asked about the possible scenario should Duterte decide to invoke MDT, Lacson said this will “trigger the RP-US defense pact and we can test it. Then, we will see up to what point the US will comply with the treaty they signed in 1951.” The US does not have to appear like it’s going to wage war, because it can simply send patrols in the area as a “proactive” measure. He played down speculations that tension will escalate. “No two superpowers would want to go to war because it is devastating. [We are in the] nuclear age. They will exercise extreme caution before they finally pull the trigger...to escalate an incident into a full-scale war.” Commenting on Duterte’s preferred option to first wait for the results on an investigation into the incident, Lacson said it’s not true that China’s side has not been heard. “The lame excuse put forward by the Chinese spokesperson, which incidentally they took down, [then fixed the script, then posted again]... but it’s still the same. It still does not add up because the satellite feed we saw showed it is almost impossible” to believe the Chinese version that “they were besieged by seven to eight vessels.” Supposedly, they tried to flee the Filipino vessels, and accidentally hit the fishing boat Gemver 1. Lacson noted the satellite images showed how far the other vessels were in the area. Butch Fernandez
Electric Co. (Meralco) said approximately 21.2 MW were dropped in Bulacan, Malabon, Navotas and Caloocan. T he t hin energ y reser ves, downed power plants, and spike in demand due to the summer heat were cited as the factors that led to the rotating brownouts. The power plants that went on forced outage are the 370-MW South Luzon Thermal Energy Corp. units 1 and 2; the 345-MW GN Power Mariveles Coal Plant Co. Ltd. and the 150-MW SMC Consolidated Power Corp. There were also derated plants:
PhilHealth withdraws WellMed accreditation
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HE Philippine Health Insurance Corp. has withdrawn the accreditation of WellMed Dialysis Center and Laboratory Corp. amid allegations it had drawn down PhilHealth funds for fraudulent claims for dialysis services filed on behalf of deceased patients. “We reiterate that prior to this, PhilHealth has ceased paying the said dialysis center for their claims,” the PhilHealth said in a statement on Tuesday. The agency reiterated that PhilHealth accreditation is a” privilege granted to qualified health-care providers” for them to participate
BSP. . .
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The Philippine Statistics Authority (PSA) recently reported that inflation in May averaged 3.2 percent, an uptick from the 3 percent recorded in April. Prior to this, inflation decelerated for six straight months. The country’s inflation started to decline in November 2018 after hitting its peak of 6.7 percent in September and October last year. The decline was a result of concerted efforts from economic managers to put in place monetary and non-monetary policy levers to ease prices. “If inflation resumes its deceleration, we expect the BSP to ease monetary policy further by way of RRP cuts and reductions in RRR should inflation remain stable and liquidity conditions tight. The BSP will remain data dependent and all moves will be engineered by evi-
PCC. . .
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PCC Chairman Arsenio M. Balisacan said in a statement on Tuesday the competition body intends to create a conducive regulatory environment for businesses with its move to trim the review period for mergers. “The PCC recognizes that a strong and vibrant economy stimulates firms’ appetite for business consolidation, corporate takeovers and market expansion. The expedited merger review is a testament of the PCC’s commitment to be efficient in the review of transactions deemed less likely to pose competition
maritime space, he added. The convention has 168 members.
GMA. . .
Rounds of communication
■ Ecopolis (ecology-driven cluster or
MEANWHILE, Chinese Foreign Ministry Spokesman Lu Kang said in a statement the event was “an accidental collision [that] took place between a Chinese fishing vessel and Filipino fishing vessels near the Liyue Tan [Reed Bank]. “We express our sympathy to the Filipino fishermen who were in distress.”He said following the incident, China and the Philippines had rounds of communication at various levels through multiple unimpeded channels. “I’d like to stress that this is only an accidental collision between fishing boats at sea. It is irresponsible and counterconstructive to link this incident with China-Philippines friendship or even make political interpretations out of it.” Recto L. Mercene
Calaca 2 at 200 MW from 300 MW, Angat Hydropower Corp. from 200 MW to zero; First Gen Hydro Power Corp. at 47 MW from 120 MW; SN Aboitiz Power Inc.-Ambuklao Hydroelectric Power Plants Units 1-3 at 70 MW from 150 MW; SN Aboitiz Power Inc. Magat Hydroelectric Power Plants Units 1,3,4 at 255 MW from 270 MW; and San Roque Power Corp. at 238 MW from 290 MW. A plant is derated when the capacity produced by these plants are less than what it had been declared earlier as being able to deliver to the grid.
Continued from A1
center for environmental tourism: Arayat, Candaba, Floridablanca and Porac). Arroyo said each area has its own potential to attract local and foreign investors. “The difference we have in Pampanga is that we have the different economies so we’ll try to see what’s needed in order to develop the area,” she said. She said the construction of a circumferential road is now in a blueprint
in the National Health Insurance Program, and “can be withdrawn” at the discretion of the corporation after due evaluation of their capacity and integrity. The PhilHealth also advised its members and their qualified beneficiaries who are availing themselves of WellMed’s services to transfer to other accredited facilities to ensure continuous availment of their PhilHealth benefits. Last week PhilHealth acting President and Chief Executive Officer Roy Ferrer and board members of the state-run insurer submitted their courtesy resignations. Claudeth Mocon-Ciriaco
dence,” Mapa said. Last month, the Monetary Board slashed its rates and said that the decision was a made in a “right policy point” environment, with considerations to the country’s disappointing growth numbers in the first quarter of the year. “In deciding the stance of monetary policy, the Monetary Board noted the impact of the budget delays on near-term economic activity, but took the view that the prospects for domestic demand remain firm, to be supported by a projected recovery in household spending and the continued implementation of the government’s infrastructure program,” Diokno said. Growth for the first quarter of the year, as announced by the PSA, slowed to 5.6 percent—the lowest growth for the country in four years. Government officials blamed this on the budget delay. The BSP is expected to hold the fourth monetary-policy meeting for the year on Thursday, June 20. concerns,” Balisacan explained. “The expedited merger review demonstrates the PCC’s commitment in enabling a conducive regulatory environment for doing business while implementing its legal mandate of guarding against transactions that may substantially lessen competition in the market,” he added. State agencies are reducing processing time for applications of permits and licenses, as well as for transactions, in line with the EODB law’s objective of cutting red tape. The law standardized completion time for simple transactions at three working days; complex transactions at seven working days; and highly technical transactions at 20 working days.
Elijah Felice E. Rosales
to interconnect all the cities, as well as municipalities in Pampangaa. “The businessmen want to have a circumferential road in order to better improve the ease of doing business. Actually, there are already segments and Palafox identified where the gaps are. So, I’m going to have a meeting with four congressmen although in principle they’ve already agreed, on what they will propose to the DPWH [for funding next year],” she said, in a mix of English and Filipino. Arroyo, an economist, vowed to be the promoter of Pampanga Megalopolis Plan internationally.
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PNP bares count of barangays ‘liberated’ from illegal drugs
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HE government has already cleared from illegal drugs more than half of the 20,471 villages around the country that have been categorized earlier as drugs-influenced barangays, Philippine National Police (PNP) Spokesman Col. Bernard Banac said on Tuesday. Citing data from the continuing antiillegal drugs campaign of the police, he said that the operations have resulted to the clearing of a total of 12,177 barangays, which incidentally, has also resulted to the death of an estimated 5,375 drug suspects. Banac said that while unofficial reports claimed that 6,600 drug suspects were killed during the operations, the number has to be cross checked with the Philippine Drug Enforcement Agency and other law-enforcement agencies in order to avoid instances of “double counting.” While the country is composed of 42,045 barangays, at least 20,471 villages have been listed earlier as influenced by illegal drugs. Banac said that the PNP is working to clear other villages from illegal drugs, in coordination with the PDEA and local government units (LGUs). LGUs have been prodded by the Department of the Interior and Local Government to play a bigger role in the antidrugs campaign through their Barangay Anti-Drugs Abuse Council. Rene Acosta
Editor: Vittorio V. Vitug • Wednesday, June 19, 2019 A3
Watchdog: Suspected ASG gunmen seized 10 fishermen off Borneo
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ILIPINO kidnap-for-ransom gangs raided two fishing boats and abducted 10 crew members on Tuesday in waters off Borneo island, a Malaysian official and a maritime watchdog said. The kidnapping, which came after a 6-month lull of such activities, renewed concerns about security threats in Malaysia’s Sabah state, which is a short boat ride from the southern Philippine bases of Muslim militants and kidnapping gangs. The Kuala Lumpur-based International Maritime Bureau said the fishing boats, carrying more than a dozen crew members, were approached by two vessels near the Philippines border. It said the pirates boarded the fishing boats, confiscated documents and kidnapped 10 crew members before sailing toward Sitangkai Island in the Philippines. It urged vessels plying the area to be watchful. The fishermen’s nationalities weren’t confirmed. Sabah police couldn’t be immediately reached for comment. A Malaysian official helping to monitor terrorism incidents said Abu Sayyaf Group (ASG) militants are the prime suspects. The official, who declined to be named as he isn’t authorized to speak to the media, said au-
thorities expect them to make their ransom demand soon like in the past. The ASG has been blacklisted by the US and Philippine governments as a terrorist organization for deadly bombings, ransom kidnappings and beheadings. The group has been weakened by battle losses and surrenders but remains a national security threat. The Philippines, Malaysia and Indonesia have bolstered security along their massive sea border in the last few years, helping to ease piracy and kidnappings primarily by the Abu Sayyaf. But Malaysian media earlier this year cited intelligence reports that ASG gunmen were plying sea borders at Sabah to hunt for new hostages to fund their campaign. Tuesday’s incident followed the kidnapping of a Malaysian and two Indonesian fishermen by the ASG off Sabah state last December. Last week Malaysia’s new police chief Abdul Hamid Bador acknowledged that the ASG remained a big threat to Sabah due to the state’s close proximity to the Philip-
pines. Authorities have imposed curfew in some parts of Sabah and planned to further bolster security. The US State Department had in April also warned of the threat of kidnappingsfor-ransom from both terrorist and criminal groups in the eastern area of Sabah under a new risk indicator. It said in its travel advisory that these groups may attack with little to no warning, targeting coastal resorts, island resorts and boats ferrying tourists to resort islands.
Border patrol accord
THE Philippines and Indonesia, meanwhile, have agreed to further enhance and intensify their border patrol and security as part of the joint effort to stop terrorism and seaborne crimes within their maritime borders. The enhancement of border security was among the issues that were discussed during the courtesy call of Indonesian Consul General Dicky Fabian on Armed Forces Eastern Mindanao commander Lt. Gen. Felimon Santos Jr. As part of the effort, Santos and Fabian explored the possibility of improving the existing Border Crossing Stations. They initially discussed the possible improvement of the Border Crossing Stations in Balut Island, Sarangani, Davao Occidental and Barangay Tibanban in Governor Generoso, Davao Oriental. “Rest assured of the support of Eastern
Mindanao Command not only in securing our common border but also in all socioeconomic activities of your consulate and Indonesian government benefiting the Indo nationals in Eastern Mindanao and those that will strengthen the bilateral relation of our countries,” said Santos during the meeting. During the same meeting, the two leaders also discussed efforts on how they could further boost the regular conduct of coordinated border patrols between Jakarta and Manila, as covered under the 1975 Philippine-Indonesia Border Agreement. Earlier, the two countries have already agreed to increase the frequency of their coordinated patrol from “two legs” to “four legs,” wherein the first leg was held for 10 days from May 1 up to 10 this year. The second leg of the coordinated patrol is expected to take place next month. The first coordinated patrol held in the Sulu Sea and its adjoining waters, other than curbing terrorism and maritime crimes, also afforded Indonesian and Filipino sailors to improve their interoperability and operational capability through simulated scenarios. The Philippines and Indonesia also have an existing trilateral joint patrol agreement with Malaysia, which purpose was also to stop the movement of terrorists within their borders and stop piracy and other sea crimes. Rene Acosta with a report from AP
A4 Wednesday, June 19, 2019 • Editor: Vittorio V. Vitug
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Nakao signals ADB may soon shun support for ‘dirty’ coal power projects By Cai U. Ordinario
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@caiordinario
ITH its energy policy currently undergoing a thorough review, the Asian Development Bank (ADB) may soon drop its coal investments altogether. In the opening session of the Asia Clean Energy Forum (ACEF), ADB President Takehiko Nakao said the only coal project that the Manila-based multilateral development has supported under his term is the Jamshoro Power Generation Project in Pakistan, which was approved in 2013. This could also be ADB’s last coal project, he added. The ADB, Nakao said, is going to evaluate how feasible it is for projects in various developing member-countries (DMCs) to implement zero coal investments, while maintaining economic growth. Currently, he said,
one-third of the world’s gross domestic product is fueled by the region and by 2050, half of the global GDP. “We should address our policies to the new reality,” Nakao said. “I don’t know when we will totally dismiss the possibility of a coal project because, in some countries, there is less access to other options. But we will consider this carefully.” Nakao said the push to clean energy and renewables has been greater given the targets set under the Sustainable Development Goals (SDGs) and the Paris Agreement crafted in the Conference of the Parties (COP)
21 in 2015. Nonetheless, Nakao said, the ADB has begun investing in clean energy and renewables. This policy has been included in ADB’s Strategy 2030, which outlines the projects and programs the bank will be undertaking in the next 10 years. Energy investments, Nakao said, are crucial not only for ADB, but also countries in the region given that it supports industry, households, provides more convenient lives for women, education, health and other sectors. Nakao said, however, that energy access has been lacking, or even absent, for around 350 million people in the region. This is the reason for the need to find solutions to address the gap and the need to respond to climate change. “We are supporting renewable energy, we don’t support coal anymore. In very exceptional cases, we may support [it] but we haven’t done that since the final project in Pakistan, Jamshoro Power Generation Project. We are already moving toward renewables,
[which] means solar, geothermal and wind, and transmission also. We support the supply of these energies,” Nakao said. Nakao added the challenge when it comes to investing in clean energy and renewables is the speed at which these can be done given the pace by which new technologies are being created. United States-based Rocky Mountain Institute cofounder and Chief Scientist Amory Lovins agreed with Nakao and said that the pace by which governments and even the private sector work may be slower compared to technological advancements. Lov ins sa id in t he United States, the cost of wind and solar energy has been declining since 2003. In terms of electric vehicle batteries, the costs had also been on the decline with battery pack price averaging below $200 per kilowatt-hour. “[Technology] is [moving] so fast that before you even complete the documents, the analysis has changed. Costs are dropping for renewables 10, 20, 30 per-
cent per year,” Lovins said. “[The question is] how do you manage risk? The risk of either doing what you wished you hadn’t or not doing what you wished you had. We have to minimize those types of regrets. And in times of rapid change, this is the supreme challenge.” In his opening remarks, ADB Vice President Bambang Susantono quoted United Nations SecretaryGeneral António Guterres, who said that energy was “the golden thread that connects all the Sustainable Development Goals.” Susantono said ADB has taken this to heart. The bank has committed at least 75 percent of its operations to support climatechange mitigation and adaptation efforts by 2030. Climate finance from ADB’s own resources will reach $80 billion for the period 2019-2030. Based on historical trends, ADB’s lending, equity, grants, and programs in support of renewable and energy efficiency could contribute significantly to this target.
NTC releases IRR on mobile number portability law
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HE National Telecommunications Commission (NTC) has issued the implementing rules and regulations (IRR) for the mobile number portability (MNP) law, or Republic Act 11202, which allows subscribers to transfer from one service provider to another without changing their mobile numbers. Under the rules, which will take effect on July 9, subscribers have to request from a provider a nine-digit unique subscriber code, which shall be then submitted to another provider. The original carrier will have a day to verify the request and the whole transfer should be completed within two days, if approved. Subscribers who are qualified for MNP are those without outstanding financial obligation to the provider, and those that have no lock-in contracts with a carrier. Others who are qualified are those who have no pending request for transfer of assignment of the mobile number and those that are not blacklisted by a carrier due to fraudulent activities. Aside from a change of mobile carrier, subscribers may opt to transfer in between postpaid and prepaid modes of payment for services. They may request for the transfer, which has to be completed within 24 hours, subject to existing policies. No fees and charges shall be collected from the applicants for MNP. Lorenz S. Marasigan
Subsidy for missionary electrification to reach ₧28.373B by 2021, DOE says By Lenie Lectura
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@llectura
HE subsidy in the form of Universal Charge for Missionary
Electrification (UC-ME) shouldered by Filipino consumers for electricity services rendered in offgrid areas is expected to balloon to
P28.373 billion by the end of 2021. “Based on the current policy of uniform subsidy per kilowatt-hour of electricity consumption in off-
grid areas, the total annual UC-ME requirements is estimated to increase from the 2011 level of P7.784 billion to P28.373 billion by end of 2021,” said the Department of Energy (DOE) in a notice. As a universal levy, the UC-ME is being collected from all electricity consumers in the country, including the average households and poor household consumers in the main grids of Luzon, Visayas and Mindanao, and in off-grid areas. However, the existing subsidy policy involves uniform pricing, such that the same level of subsidy per kilowatt-hour is being provided to residential, commercial and other electricity consumers in off-grid areas. In effect, poor electricity consumers in the main grids are also paying for the UC-ME to subsidize the electricity consumption of large commercial and even industrial consumers in off-grid areas. The DOE noted that “this inequity must be immediately addressed.” One way to cushion this is to formulate a “new well-targeted and efficient subsidy policy for off-grid areas,” said the agency. An earlier proposal from the
DOE was to remove the UC-ME. But the agency, in its notice, said this could not be done without appropriate safety nets to mitigate the effect of the rationalization to the household consumers in offgrid areas. Instead, the DOE notice proposed the following strategies for the new subsidy rationalization policy: Replacement of diesel and bunker fuel-fired power plants with lowcost, clean, indigenous and renewable power system in off-grid areas. Phasing out of traditional diesel power plants with renewable plants, which can significantly reduce the cost of generation in off-grid areas, thus, immediately resulting in lower UC-ME subsidy. Efficient and least-cost dispatch of power plants. Improving system operation in off-grid areas and dispatch of power plants according to least-cost order are expected to lower actual cost of generation, even without replacement. Modernization of small grids and distribution systems. Efficient targeting of UCME subsidy for poor electricity consumers in off-grid areas. The DOE explained that if subsidies
are still necessary despite the above-mentioned mechanisms, the poor and eligible households would continue to receive UC-ME subsidy as safety net. Removal of automatic subsidies to commercial and industrial customers in the off-grid areas. The DOE said this will address the current situation where poor electric consumers in the main grid are also paying UC-ME that subsidizes the power bills of commercial and industrial customers of ECs in offgrid areas, such as the first-class cities and municipalities of Palawan and Mindoro. Provision of government funds in the form of electricity subsidies to economic activities and services that contribute to the integrated and inclusive development of offgrid areas within the limits of their carrying capacity. Intra-connection of existing contiguous small grids and microgrids is expected to result in optimal system operation and eventually in lowering of cost of generation. Interconnection of small grids into the main grid. The agency scheduled a series of public consultations next month.
Senate moves to reverse declining fish catch, poverty incidence in coastal areas By Butch Fernandez @butchfBM
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OVING to address declining fish population and high poverty incidence among the more than 1.5 million coastal fisherfolk in the country, the Senate has approved on final reading three House measures establishing fisheries research centers in the country. “With the passage of these measures, fisherfolk will be given priority access to their own town’s marine resources and new technologies, including the processing and preservation of their fish catch,” said Sen. Cynthia Villar, who chairs the Senate Committee on Agriculture and Food. Villar said the early enactment into law of the remedial legislations will “help resolve overfishing and dwindling fish catch for the small fisherfolk in these areas,” referring to House Bill 7491, establishing a provincial fisheries and aquatic resources training, development and product center in Aklan; HB 7500, seeking
to establish a freshwater multispecies hatchery and research center in Balo-I, Lanao del Norte; and HB 7484, setting up a fisheries research center in Abulug, Cagayan. According to Villar, the Philippines, as the sixth biggest fish producer in the world, has an aquaculture production of over $1.58 billion with the fisheries sector providing direct and indirect employment to over a million people, “or about 12 percent of the agriculture sector of the labor force.” The senator had earlier also facilitated the establishment of similar facilities in 14 other provinces, including Quezon, Albay, Surigao del Sur, Agusan del Norte, Surigao del Norte, Sultan Kudarat, Cebu, Catanduanes, Zamboanga del Norte, Leyte, Southern Leyte, Biliran, Eastern Samar and Northern Samar. Villar affirmed that building more such facilities to “improve our fish farming capabilities is one of the longterm solutions we need in order to improve our productivity.” She noted that “many of our tradi-
tional fishing grounds are getting overfished and we need to create breeding grounds and hatcheries to help arrest the dwindling fish stock.” In a news statement, Villar acknowledged that the National Fisheries Research and Development Institute (NFRDI), which is under the Department of Agriculture, has been in the forefront in setting directions for fisheries research and development. She added that according to the NFRDI, its programs and projects were previously conceptualized based on the road maps focusing on the priority commodities, namely, tuna, small pelagics, indigenous species, high-valued species, tilapia, bangus, shrimps, seaweeds, cepalopods, crabs, shellfish and sea cucumber. Noting that the Philippines has 18,500 kilometers of coastline, 26.6 million hectares of coastal (inshore) waters and 193.4 million hectares of oceanic (offshore) waters, Villar noted that despite this vast water resources, the Philippines was reported to be running out of fish.
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Wednesday, June 19, 2019 A5
BOC cuts lodgement of goods declaration period to 7 days
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By Rea Cu
@ReaCuBM
HE Bureau of Customs (BOC) has ordered the lodgement of goods declaration period cut from 15 days to seven days, after holding public consultations beginning last April. Customs Memorandum Order 27-2019 revises the provision on the lodgement of goods declaration under a CMO the bureau issued in 2016. Under Republic Act 10863, or An Act Modernizing the Customs and Tariff Administration, all imported goods shall be subject to the lodgement of a goods declaration. “A goods declaration may be for consumption, for customs bonded warehousing, for admission, for conditional importation, or for customs transit,” Section 50 of the law said.
Earlier in the month, Customs Commissioner Rey Leonardo B. Guerrero signed CMO 27-2019 implementing the seven-day period for the filing of goods declaration with the BOC taking effect on June 15. The BOC said the move is in line with the provision of the Customs Modernization and Tariff Act (CMTA), which states that the lodgement of goods declaration may be extended on valid grounds and that “provided, however, that the period of the lodgement of the goods declaration may be adjusted by the commissioner.”
Last April, the BOC issued CMO 182019 to help tighten the control on the flow of goods in the country’s ports, which aims to eradicate port congestion. CMO 18-2019 was issued on April 29, but its implementation was suspended to give way to a public consultation requested by its various stakeholders. Under the CMTA, the Professional Customs Brokers Association of the Philippines Inc. (PCBAPI) said the Customs commissioner is empowered to implement the provision ordering the filing and lodgement of goods declaration within a 15-day period, as well as extending the period for another 15 days if needed, for a total of 30 days. The PCBAPI said there is no provision under the CMTA that the BOC commissioner can reduce the period stipulated in the law for the period of the lodgement of goods declaration. The group also said 15 days is not enough time for shipments to be covered by a letter of credit and to secure the necessary clearance from several government agencies.
BOC-Dumaguete earnings reach P2.3B D
UMAGUETE CITY—With still six months before the end of the year, the Bureau of Customs (BOC) subport office here has already collected more than P2.3 billion, mostly from importation duties and taxes. The amount represents about 60 percent of the office’s target collection for 2019 pegged at P3.8 billion, Dumaguete Customs Collector Fe Lluelyn G. Toring said in an interview last Monday. “We are pleased with the outcome of our revenue collections in line with the administration’s mandate to dou-
ble our efforts to increase the collection of duties and taxes from importers and from other sources as well,” Toring added. The actual collection from January 1 to June 17 this year “is way above the target collection for the first semester [January to June] at P 1.68 billion, or an excess of P234 million plus,” according to Toring. The Dumaguete Customs Office has until the end of December to collect the remaining P1.49 billion plus, she added. Toring is optimistic that they will be
able to achieve their target or even surpass it, considering that in the coming weeks, they are expecting a number of importation shipments. Filoil Energy Co. Inc. is still the leading contributor to the Dumaguete subport’s positive gains, with increasing volumes of petroleum products being imported to supply Dumaguete and Negros Oriental and other areas, Toring said. Other importers here include Dumaguete Coconut Mills Inc. for palm olein and Pryce Gases Inc. for liquefied petroleum gas. PNA
Indonesia’s Central Bank chief sees room to cut interest rate
B THAI TIES Department of Trade and Industry Undersecretary and Board of Investments Managing Head
Ceferino S. Rodolfo (second from left) and Bangkok Bank Public Co. Ltd. Executive Vice President and Cohead of International Banking Group Nutthaporn Luangsuwan (second from right) led ceremonies for the signing of a memorandum of understanding between the Philippines’s Board of Investments and Bangkok Bank Public Co. Ltd. Also in the photo are (left) BOI-International Investments Promotion Service Director Angelica Cayas and Bangkok Bank Public Co. Ltd. Vice President and Manila Branch Manager Nattika Kanpawong.
Japan’s creaking pension system could deal Abe election blow
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AGGING doubts about how much money retirees need have erupted into Japanese public debate, potentially hurting Prime Minister Shinzo Abe in national elections for parliament’s upper house next month. A report published on June 3 on the Financial Services Agency’s web site pointed to serious shortfalls in the social security system for the world’s most-aged country, saying a couple in their 60s retiring on a pension would need a nest egg of up to ¥20 million ($184,000) to help cover living expenses. Opposition parties pounced, trying to leverage renewed worries over the creaking pension system to dent Abe’s majority in the election. “The government is trying to cover up things that are inconvenient,” Yukio Edano, leader of the main opposition Constitutional Democratic Party of Japan, told a press conference last week. “And isn’t it the job of the government to figure out how we can build a system that will work even if people don’t save ¥20 million?” The pension issue typically tops surveys
of voter concerns in Japan and has the potential to trip up Abe. Even though his ruling Liberal Democratic Party-led coalition is set to retain its majority in the election for the less powerful upper house expected on July 21, opposition parties are looking to erode Abe’s power by showing his LDP as out of touch with the financial concerns of ordinary Japanese. Finance Minister Taro Aso, who oversees the agency, effectively withdrew the report, saying it had caused misunderstanding. He reiterated last Tuesday the public pension was “basically” sufficient, but even as he attempted to distance the government from specific figures for a nest egg, the Mainichi newspaper reported the FSA itself had suggested retirees needed up to ¥30 million. At a rally of several hundred people in central Tokyo on Sunday, protesters accused Abe’s government of financial bungling and waved placards reading: “Give us back our pensions!” Hanae Nakao, 37, who joined with her baby, said the government had its spending priorities wrong. Bloomberg News
ANK Indonesia sees room to cut interest rates, according to Gov. Perry Warjiyo, raising the prospect of Southeast Asia’s biggest economy easing monetary policy in the face of growing risks to growth. “If we take into account low inflation and economic growth that needs to be pushed, indeed, we already know that there’s room to lower interest rate,” Warjiyo told lawmakers on Monday, without giving any indication of timing. “As of now, global financial market condition is still full of uncertainties, whether related to trade war, Brexit, geopolitics etc., which can lead to capital flows reversal and bring risks in financing the current-account deficit.” Central banks around the globe have been shifting to a looser monetary-policy position as they look to counter slowing demand with India, Australia, New Zealand, the Philippines and Malaysia all cutting rates in recent weeks. While Indonesia’s economy has been growing at about 5 percent, officials are also increasingly concerned about risks to growth, citing an escalation in trade hostilities between the US and China. Indonesia’s central bank is scheduled to make its next interest rate announcement on Thursday. If it lowers the rate, it would be the first cut since September 2017, and mark the beginning of an unwinding of a tightening cycle that began in May last year and delivered a total of 175 basis points of hikes. Only five of the 28 economists surveyed by Bloomberg before the comments from Warjiyo predicted the bank would cut interest rates on Thursday. “The combination of the US Fed signaling an openness to easing, falling US treasury yields, rate cuts by its regional peers, and lower global oil prices give BI scope to pull the trigger,” said Krystal Tan, an economist at Australia and New Zealand Banking Group Ltd. in Singapore. “Barring a sharp sell-off in the rupiah in the coming days, we think its first cut could materialize as soon as this week.” Bloomberg News
A6 Wednesday, June 19, 2019 • Editor: Angel R. Calso
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editorial
Ensuring PHL food security
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HE Philippines will once again reclaim its title as one of the top importers of rice this year, thanks to the removal of the quantitative restriction on rice. Traders can now freely import rice following the implementation of Republic Act (RA) 11203, which removed the QR, starting March 5. Because of this, the United States Department of Agriculture (USDA) projected that the country’s purchases this year will make it the second-largest buyer of the staple, just behind China (See, “Rice imports this year seen reaching 3 MMT,” in the BusinessMirror, June 13, 2019). The same USDA report noted the increase in traders’ purchases of the staple, particularly from Vietnam, a traditional source of imported rice for the Philippines. More orders could be placed in the coming months, as there is now an incentive for traders to bring in more rice. The National Food Authority (NFA) is no longer selling rice as the new law has reduced its role to buffer stocking. The entry of more imports will benefit consumers, as this would ensure stable prices. Latest data from the Philippine Statistics Authority showed that despite the end of the harvest season in May, there was no dramatic swing in rice prices. In previous years, the staple becomes more expensive after farmers have harvested their crop. This was not the case this year, as prices remained stable in almost all regions, according to the PSA’s survey of regional centers. While the data is encouraging for consumers, it does not bode well for local rice planters. In a report, the PSA said the average farm-gate price of unhusked rice fell by 13.7 percent to P18.20 per kilogram, from last year’s P21.08 per kg during the fourth week of May. There are reports that the decline is steeper in some areas, as farmers claimed that traders bought their crop at only P14 per kg. This, at a time when prices should have recovered as farmers have concluded harvest and the El Niño phenomenon slashed output in some rice-producing areas. By now, the government should have been helping local planters prepare for the influx of rice imports. As it is, the hands of agencies mandated by RA 11203 to help make the sector competitive are tied because the national government has yet to beef up the Rice Competitiveness Enhancement Fund. The RCEF is supposed to be made up of tariffs collected from imports. Pending the collection of these tariffs, the national government has agreed to frontload P10 billion so agencies could start rolling out interventions for the sector. Delays in implementing the necessary interventions to help planters could drive them away from farming and encourage them to accept construction jobs, which guarantee a minimum wage. Particularly vulnerable are small farmers who are always at the mercy of loan sharks. For a 1-hectare farm, planters need to spend P49,745, according to the latest data from the PSA. To plant twice a year, farmers need to raise some P100,000 for fertilizer, pesticides, hired labor, seeds and other costs. Raising production capital is particularly difficult for planters tilling a 1-hectare farm, as the return on investment is pegged at P23,000 per cropping season. This is why small farmers turn to loan sharks, so they can continue planting palay. With the NFA now out of the local rice trade and the private sector importing more, planters can no longer rely on the government to help stabilize farm-gate prices. Allowing more imports via the rice trade liberalization law is good for consumers but could spell doom for farmers, particularly if the government can’t put in place the necessary safety nets. Inflation has eased in recent months and there are indications that it will continue to decelerate as food prices have stabilized. The only way to ensure that inflation will continue to fall within the government’s target is to have a steady supply of staples, which is why we need to strengthen local food production. The Philippines should not just rely on other countries for its food security.
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Unclos affirms the rule of law in maritime space Teddy Locsin Jr.
FREE FIRE Continued from A1
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HE Philippines was one of the original signatories of Unclos in 1982, and ratified it two years later. Recently and famously, on the basis of Unclos it filed a carefully crafted and successful complaint at The Hague to clarify the legal situation in the South China Sea; to remove the confusion or the pretext of confusion on the part of those violating it. We have strongly supported and upheld Unclos because it provides a comprehensive legal regime for the oceans and the seas. As the “constitution of the oceans,” it affirms the rule of law in maritime space. Rule of law must be adhered to by all States Parties in the belief that no one can thrive nor survive for long in anarchy. Whether international law can
A letter to my father
✝ Ambassador Antonio L. Cabangon Chua
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be enforced is another matter. And it doesn’t help that parties with the strength to enforce it—and who have invoked a lot the need for it—have not joined it. On June 9, 2019, a Philippine fishing vessel anchored in Recto Bank in Palawan, in the West Philippine Sea, sank after an incident with a Chinese vessel. The
I
VISITED your grave last Sunday. Your apo, Estelle, bought one of the three flowerpots that we brought to cheer you up on Father’s Day. Your resting place at the Libingan ng mga Bayani is in dire need of sprucing up. How long has it been since we lowered your body down there? Sixteen years. We ache for you still. And now there are cracks in the black slab of granite that juts out from the ground, serving as a divider between heaven and earth. We promise to fix those cracks soon. I miss you still, and always. I miss seeing you sitting on the bed, reading the newspapers while having your morning coffee. I miss the constant waft of smoke and the perpetual search for ashtrays, lighters, and smoking lounges to help you light up. I miss the books, piles of them, in the backseat of your car and in boxes brought in from travels abroad. I miss your booming voice, the softness of your hand, and how you would bravely hang on to a church pew to kneel slowly despite the stiffness in your knees. I miss your smile that comes with the twinkle in your eyes. In the twilight of your years, that smile came much more easily, especially when you hear your grand-
kids in the room. I miss how you would pet our dogs, like they were children, and the way you would feed them hopia, the ube kind. I miss the scratching of your fountain pen on yellow pad, signifying the start of your column-writing duties. I still remember seeing you, seated and silent, during Estelle’s birthday party, when rock band after rock band slayed the air, punishing the entire neighborhood with noise. You sat there, because you try to be present in all of our birthdays, no matter what that entailed. You died on December 14, 2003, in mid-air, as the plane was sailing through clouds from Tokyo to Bahrain. The pilot made an
incident’s location is at an area within the exclusive economic zone of the Philippines. The 22 Filipino crew were left in the water until a Vietnamese vessel took them on board. We are eternally in debt to our strategic partner, Vietnam, for this act of mercy and decency. The incident, to put it diplomatically, highlights the moral and possibly legal—though one wouldn’t wager on it—imperative of coming to the rescue of persons in distress at sea. Article 98 of Unclos explicitly provides for the “duty to render assistance”. This duty of the master of a ship is threefold: To render assistance to any person found at sea in danger of being lost; To proceed with all possible speed to the rescue of persons in distress, if informed of their need of assistance, in so far as such action may reasonably be expected of him; and After a collision, to render assistance to the other ship, its crew
and its passengers and, where possible, to inform the other ship of the name of his own ship, its port of registry and the nearest port at which it will call. The same categorical imperative is found in the IMO International Convention for the Safety of Life at Sea, as amended, and the IMO Convention on Maritime Search and Rescue to which we have appealed. It is the obligation of every member-state of the UN and of the IMO to pay, not just lip service to these conventions but to observe them in real life-and-death situations. The rescue of persons in distress is a universally recognized obligation of people and governments; and in the civil law and, maybe even in common law, it is a felony to abandon people in distress; especially when we cause that distress; and more so when it is no bother at all to save them at no risk to oneself. While no sanction is available in international law, it should be a cause of some concern. Thank you.
emergency landing in Taipei but your heart had already surrendered, and they pronounced you clinically dead at the hospital. I never had the chance to say goodbye and to thank you. If I had that chance, I would have said, “I love you”, over and over again. I say that to your grave now, hoping that divinity has its own Bluetooth system, so you can hear my every word. I am now 57 years old, and thoughts about earthworms in the crusty soil feasting on my own remains would sometimes crawl in my head. Mortality and maintenance medicines have become twin realities of life. I try my best to make you proud, and to keep on learning like you have always done. Education is for life, you once told me. There is no reason to remain intellectually stagnant, especially given the endless buffet of information that technology provides. Facts are not wisdom, however. You had both, and I miss your attempts to explain the world to me. I write this letter to you because though our father-daughter relationship was not perfect, you left me with little room to complain. It’s rare for a daughter to be scolded because of grammar lapses. You also scolded me once because as your media officer, I had to pressure you to respond to their queries. What did you say then? “Never let the media dictate public policy.” Something similar to that,
I guess. It was a short, sharp, retort dished out with a glare. I never forgot that moment. I mean, how many daughters would have that kind of memory? And so, I write you now with nothing but gratitude in my heart. To have a father like you, and a mother like Mommy, and with siblings who are among the kindest in the world, there is really nothing more to wish for. I pray that you are happy. I pray that you are able to read as many books as you want, smoke as many cigarettes as you can, and have heavenly conversations with intellectual angels like Shakespeare, Plato and Jose Rizal. You did exceedingly well, as a writer, government worker and politician. You did your best as a father while combining all of the above. I am trying my best as one of your direct descendants. Though I must confess to having a few grammar lapses still, here and there. Ok, not just a few. LOL. Happy Father’s Day, Amang. I love you, then. And even more remarkable, I love you even more now. Your bunso, Toots Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the InterAgency Council Against Trafficking.
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Opinion
Abusing dominance
The health insurance gap in the Philippines
BusinessMirror
Atty. Dennis B. Funa
Atty. Johannes Benjamin R. Bernabe
Competition Matters
INSURANCE FORUM
ARTELS are more easily understood by lawyers and economists familiarizing themselves with competition law concepts. Even laymen have a general understanding of price-fixing and bid-rigging as acts among competitors that ought to be prohibited and penalized.
EALTH expenses continue to grow every year. It is estimated that this expense will grow at an average of 8 percent year-on-year. As of 2017, total health expenditure in the Philippines was estimated at P684 billion with P373 billion of it covered through out-of-pocket, meaning uninsured. It is projected that by 2020, the Philippines will be Southeast Asia’s second-largest pharmaceutical market with revenues estimated at $10.8 billion. In terms of specific illnesses, the treatment costs continue to grow. As of 2018, the cost for cancer treatment could total P5.66 million; for stroke, the cost could be P2.93 million; and for myocardial infarction, it could be P1.92 million.
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However, the practices that the Philippine Competition Act (PCA) considers as constituting “abuse of dominance” are more difficult to grasp for the business community, or even among legal practitioners. This difficulty owes to abuse of dominance being such a fluid concept, with no fixed standard apart from the principle that such conduct should substantially lessen, prevent or restrict competition. Unlike price-fixing where one has a fair idea when it is, in fact, happening, abuse of dominance depends on so many variables, which have to be established before the fact of abuse is acknowledged. First, the competition authority has to determine what the “relevant market” is. What is the product involved? In which area of the country is the product being sold or traded? Once these tricky issues of the market involved are resolved, the competition authority has to establish that the entity alleged to be involved in abusive conduct is indeed dominant in that market. But just how do you establish this? The PCA creates a rebuttable presumption of dominance if the market share of the entity in the relevant market is at least 50 percent. This presumption may, however, be set aside by the Philippine Competition Commission (PCC) if the latter finds that even with a lower market share, there exist barriers to the entry of prospective competitors, or that buyers have ease and ability to switch to other goods or services, or that other entities can have easy access to the dominant entity’s source of inputs. Only after the PCC has established that an entity is dominant in the relevant market can it then determine that an act, such as those enumerated in Section 15 of the PCA, constitutes an “abuse” from a competition perspective. While the enumeration in Section 15 is quite comprehensive, covering everything from predatory pricing to tying the sale of a product to the purchase of a totally unrelated product or some other condition, or imposing anything from unfair selling price to undefined barriers to entry, there is a prevalent view that the enumeration in the law is not exhaustive. Indeed, lawmakers could not possibly imagine all the possible conduct, which could constitute abusive behavior resulting in a substantial lessening, prevention or restriction of competition. This series of subjective analyses the PCC has to undertake is what lends difficulty to fixing an objective standard in ascertaining whether or not an offense has been committed under Section 15. Not only are the analyses based mostly on economic evidence, but also further compounding the difficulty is that findings based on these analyses change
over time, such that they may have minimal precedential value. Thus, even in the United States, judges with limited economic training have on several occasions based their rulings in anti-trust cases involving abuse of dominance on legal procedural issues, rather than substantive analysis. It is no wonder that many resource experts from more advanced competition jurisdictions, when advising the PCC, often suggested deferring going after abuse of dominance cases, and to focus instead on cartel investigations. Notwithstanding all these, the PCC Enforcement Office’s very first charge sheet against an entity for violation of the PCA, known in competition circles as a Statement of Objection, was filed against a real-estate developer for abuse of dominance in excluding other Internet service providers in the provision of fixed broadband services to homeowners and tenants in its various property developments. When news of this enforcement action was published in PCC’s web site as required under the rules, we in the Commission were informed that companies involved in similar lines of business started scurrying around, trying to find out if their contracts contained similar exclusivity clauses. Without awaiting the outcome of the Commission’s decision on the matter, it seems that the PCC’s Enforcement Office filing of its Statement of Objection has already had a concrete deterrent effect on possible anti-competitive behavior of businesses! Another consequence of this filing has been its instructional value on other end-users and consumers. The PCC has recently received a spate of enquiries and informal complaints about practices of certain businesses, ranging from mall cinemas barring moviegoers from bringing food bought elsewhere to transport providers charging unfairly high prices, all of which are alleged to be abusive and anti-competitive. The PCC Enforcement Office is bound to be called upon to investigate some of these, and the Commission will in due course hear and decide these cases. Rather than ruing these developments, businesses should view these as an opportune occasion to enhance their understanding of competition law, reform their practices, if necessary, and contribute to building a culture of competition in our country. Commissioner Bernabe served as adviser to the Senate and the House of Representatives in the drafting of, and deliberations on the Philippine Competition Act. A lawyer by profession, he was a senior fellow at the Geneva-based International Centre for Trade and Sustainable Development and served as the Philippines’s lead trade negotiator on select issues at the World Trade Organization, also in Geneva, Switzerland.
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Of the 2017 total health expenditure, 20 percent of it was covered by the national and local government, 17 percent was covered by social health insurance agencies (mainly the Philippine Health Insurance Corp. [PhilHealth] and to a much smaller extent the Employees Compensation Commission), 5 percent was covered by Health Maintenance Organizations (HMOs), 2 percent by private health insurance, 2 percent by others, and an astounding and shocking bulk of 56.3 percent shouldered by the patients themselves or as out-of-pocket expenditures. In comparison, Indonesia has 47 percent, Thailand has 12 percent and Vietnam has 37 percent OOP expenses. The impact of both social health insurance, as well as private health insurance on Filipino households is thus minimal.
Out-of-pocket expenses
THE bulk of health expenditure is covered by the patient himself as outof-pocket expenses. This reliance on out-of-pocket expenditures pushes Filipino households into poverty. It has been estimated that every year, 1.5 million families are pushed to poverty because of health-care expenditures. It was found that in 2012, half of out-of-pocket spending went to medical products (drugs and
medicines), of which almost twothirds went to pharmaceutical products and almost three-tenths went to supplements. This high level of OOP expenses though can be reduced by increasing the share of social health insurance. Countries with successful health financing strategies have lower levels of OOP, to as low as 15 percent to 30 percent. High levels of OOP is seen as regressive as families are forced to skimp on education and other important spending. Indeed, a catastrophic health expenditure can be tragic for a family. P4,000 per month in health-care expenses is considered as catastrophic for single income families. It has been observed that “poor households with chronic sick members are most vulnerable to catastrophic health expenditure.”
Industry players
HEALTH insurance is generally provided by only three players: a) the PhilHealth together with the national and local governments through subsidies, as the sole public health insurance provider, b) HMOs, and c) the life and general insurance companies providing private health care insurance.
HMOs
HMOs provide members with access to their network of health-care
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providers, such as doctors, dentists, hospitals, and clinics, through prepaid health products for a monthly, quarterly, semiannual or annual fee. HMO plans have typically a one-year coverage, renewable every year, with a maximum benefit limit (MBL). The HMOs cover around 4 million Filipinos as members, around 90 percent of them as members in corporate plans. The bulk of HMO business is in corporate or group plans. This means that only those gainfully employed are covered and on a voluntary basis. It is characterized as “cashless,” meaning payments are made directly to the hospitals and doctors. Nonetheless, HMO coverage is very limited in amount with an average cover of P150,000 MBL. Indeed, it is not at all sufficient to cover the expense of a regular treatment for major conditions such as, say, a stroke, which will cost around P1.8 million, an acute heart attack at P978,000, a breast cancer at P430,000 and a lung cancer at P2.7 million. Having an HMO is, thus, seen as not being enough. To illustrate, the treatment for a kidney dialysis could cost around P1,000,000 (as of 2018). The PhilHealth limit would be at P10,000 while an HMO limit could be at P200,000. Thus, leaving a shortfall of around P800,000.
Public health-care insurance
REPUBLIC Act 7875, otherwise known as “The National Health Insurance Act of 1995,” created the PhilHealth to implement the National Health Insurance Program of the Philippines. PhilHealth, a government-owned and -controlled corporation was created on February 5, 1995, to implement universal health coverage. Universal coverage means all Filipinos will be covered for almost every conceivable medical procedure. PhilHealth subsidizes a variety of treatments, including inpatient care and nonemergency surgeries, although it does not cover all medical treatments and costs. Premium contributions are shared by the employee and the employer, the amount of which is determined using a table of contributions.
AP Economics Writer
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ASHINGTON—US businesses are imploring President Donald J. Trump not to expand his tariffs to $300 billion in goods from China that have so far been spared in his trade war with Beijing. These companies warn that the additional tariffs 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 components they buy from China.
And in a sign that commercial combat between the world’s two biggest economies is hurting business on both sides of the Pacific, the Chinese telecommunications giant Huawei warned that the hostilities with the Trump administration will shrink its expected revenue by $30 billion over the next two years. Huawei is at the heart of the trade war that Beijing is engaged in with the Trump administration, which has accused Chinese companies like Huawei of committing forced technology transfers from American companies and stealing their trade secrets. Last month, the US placed Huawei on its “Entity List,” which effectively bars American companies
No balance billing policy
IN 2010, PhilHealth introduced the No Balance Billing Policy through PhilHealth Board Resolution 1441, Series of 2010, for the most common medical and surgical conditions in the country. PhilHealth issued Circular 011-2011 on August 5, 2011. The NBB policy meant “that no other fees or expenses shall be charged or paid for by the patient-member above and beyond the packaged rates.” This means that PhilHealth “covers a fixed amount per case and all charges in excess of that amount are to be shouldered by the member or private health insurance, if available.” Consequently, if one has HMO or health insurance coverage, its coverage will only be that in excess of PhilHealth limits. The goal is to ensure zero out-of-pocket payments. In effect, it makes medical treatment entirely free for the beneficiaries. Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016. E-mail: dennisfuna@yahoo.com.
China blinks, but divide from Hong Kong remains By Ken Moritsugu The Associated Press
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EIJING—The leader of China, it turns out, may not be allpowerful. Faced with huge and disruptive protests in Hong Kong, China blinked. The decision to shelve the legislation that sparked the demonstrations shows that limits still exist to how hard China can, or is willing, to push. It also exposed a fundamental contradiction in the “one country, two systems” framework that governs the semi-autonomous city. Chinese President Xi Jinping has cemented his hold on power since taking the helm in 2012. His government has expanded control over information, religion and other aspects of society. In Hong Kong, the local government has disqualified a pro-independence party, sent the leaders of a 2014 protest to prison and denied a visa renewal to an editor for Britain’s Financial Times. Activists decried these moves as chipping away at Hong Kong’s freedoms, but residents largely went about their lives. Then the government, with China’s backing, chipped too deeply, propelling hundreds of thousands, possibly
millions in a city of 7.4 million people, into the streets. For Xi, it apparently tipped the scales in a balancing act between attempts to tighten Communist authority and stability in the international financial center, and wanting to keep Hong Kong from slipping out of Beijing’s control—and even demanding independence. “It is a sign that Xi Jinping’s government is not totally impervious to pressure, despite the fact that he has consolidated so much power,” said Ben Bland, an expert at the Lowy Institute in Australia and author of Generation HK: Seeking Identity in China’s Shadow. It was in an atmosphere of uneasiness about China’s intentions that Carrie Lam, Hong Kong’s chief executive, proposed changes to extradition laws that would allow Hong Kong to send criminal suspects to Mainland China to face trial. The Chinese government supported the proposals, though it insisted that the idea was Lam’s, not theirs. The idea ignited simmering concern about Chinese influence and Hong Kong’s future. For many, the idea of being tried under the mainland legal system threw into question the “one country, two systems” framework under which
the British returned Hong Kong to China in 1997 and that guarantees the city’s right to retain its own social, legal and political systems for 50 years. It’s a framework that has been tested repeatedly in the ensuing two decades and stems from an intractable problem in China’s approach to Hong Kong. As China expert Kevin Carrico notes, the leader of Hong Kong is not elected democratically, as activists demand. Lam was chosen by a committee dominated by supporters of China’s ruling Communist Party. She is beholden to the Chinese government, not the people of Hong Kong. So Lam persevered despite a massive protest on June 9, and then clashes between police and demonstrators outside the legislature on Wednesday. She finally gave in on Saturday, but not enough to stop another huge protest on Sunday whose turnout may have exceeded that of June 9. Carrico, a senior lecturer in Chinese Studies at Monash University in Australia, called the protests a testament to a failure of Xi’s hardline approach to Hong Kong. That includes a shift away from responding to or acknowledging the demands of protesters in Hong Kong,
Why US-China trade war risks hurting firms in both countries By Paul Wiseman
Contributions are also derived from the government. After deducting half of the premium requirement from the employees’ monthly salary, total premiums are remitted by the employer to PhilHealth. PhilHealth membership increased from over 22.4 million in 2010 to almost 40.6 million in 2015. Lifetime members and senior citizens combined have the second highest coverage rate at 75 percent. This is mainly due to the mandatory coverage of senior citizens starting in 2014. With a population of 105 million, as of 2017, PhilHealth boasts of a 92 percent coverage. In 2013, 69 percent of PhilHealth funding came from the premium payments of its members, while 31 percent came from premiums paid by sponsored program members. Contributions in 2013 totaled P55 billion. PhilHealth basically purchases medical services from various health providers and pharmacists, and pays for these according to an agreed upon provider payment systems.
from selling components to Huawei without government approval. In the meantime, American businesses, trade groups and individuals are pleading with the administration to drop its threat to tax the remaining Chinese imports that Trump hasn’t already hit with tariffs—or at least spare the particular imports that they and their customers rely on. Some are appearing in person to air their grievances in seven days of hearings in Washington that began 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. This week, US Trade Representative Robert Lighthizer is sure to hear more complaints when he goes to Capitol Hill. Lighthizer is to testify on Tuesday to the Senate Finance Committee and on Wednesday to the House Ways and Means Committee. Lawmakers from both political parties have been increasingly inclined to speak out against
Trump’s aggressive use of tariffs. They were especially alarmed last month when Trump unexpectedly threatened to impose crippling tariffs on Mexico in a push to stop the flow of Central American migrants into the United States. Trump dropped the tariff threat after Mexico agreed to do more to block the migrants. But the combat with China continues. And Chinese companies are being bruised. Huawei’s founder and CEO, Ren Zhengfei, likened his company to a “badly damaged plane” because of the US actions against it. Ren said Huawei will reduce capacity and expects revenue of about $100 billion annually for the next two years,
starting with the “Umbrella Movement” pro-democracy protests in 2014. That doesn’t mean China will stop trying to control Hong Kong, as the balancing act continues. “The Chinese government is determined to stop what it sees as the use of Two Systems to undermine the unity of One Country,” Bland said. “And Hong Kongers are clearly determined to fight for their freedoms.” What is happening today in Hong Kong parallels what happened in 2003, when huge protests forced the government to drop a proposal to impose what opponents saw as a draconian national security law modeled on China’s. Eventually, China’s then-handpicked leader resigned, but the fundamental issue remained, and protests returned in 2012, 2014 and this year. “There’s this constant cycle that is really a product of the way the chief executives of Hong Kong are elected,” Carrico said. Xi and China may have beat a retreat, but the difference between what the two sides want suggests the pattern of government proposal and massive protest could well play out again in years to come.
compared with $105 billion in 2018. In February, he had said the company was targeting $125 billion in 2019. Huawei’s overseas cell-phone sales will drop by 40 percent, Ren predicted. The Trump administration asserts that Huawei poses a national security threat because it is beholden to China’s ruling Communist Party. But American officials have presented no evidence of any Huawei equipment serving as intentional conduits for espionage by Beijing. Huawei’s placement on the Entity List is widely seen as intended to persuade resistant US allies in Europe to exclude Huawei equipment from their next-generation wireless networks, known as 5G.
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Asean meet to tackle Recto Bank case in ‘general terms’ T By Bernadette D. Nicolas
@BNicolasBM
HE alleged hit-and-run incident involving a Chinese militia vessel and a Filipino fishing boat in Recto Bank may be raised, but only “in general terms” during the 34th Association of Southeast Asian Nations (Asean) Summit in Thailand to be attended by President Duterte on June 22 and 23. A Department of Foreign Affairs (DFA) official pointed this out on the eve of the meeting in Thailand, even as she pointed to the urgency of finalizing a Code of Conduct in the South China Sea. Assistant Secretary Junever Mahilum-West told reporters that, while recent developments in the South China Sea may be discussed by the Southeast Asian leaders, “traditionally the summit is not the venue” where issues like that
will be discussed. Sought to clarify, MahilumWest said she meant a call for selfrestraint and for desisting from taking any action that could cause tension in the region. “There are other forums where
“[Incidents like that at Recto Bank] emphasize the importance of having a Code of Conduct so that we could avoid, we could prevent these incidents from happening in the future.”—Mahilum-West
we are dealing with this issue right now,” she said. Nonetheless, she also said during the predeparture briefing that the recent incidents, like what happened to the fishermen, “emphasize the importance of having a Code of Conduct so that we could avoid, we could prevent these incidents from happening in the future.” Incidentally, the Philippines is the coordinator of the Asean-China dialogue partnership from 2018 to 2021 wherein Asean memberstates, and China are working on
the Code of Conduct on the South China Sea. Prior to the summit, the jointworking group between the Asean member-states and China have been negotiating on a Single Draft Negotiating Text, she said. Asean leaders expect to finish the first reading of the document by the end of the year. With the theme “Advancing Partnership for Sustainability,” this year’s Asean summit will be chaired by Thailand, headed by Thai Prime Minister Prayut Chano-cha. All 10 heads of state of Asean members have committed to attend. The summit will also be a call for Asean to be more effective in responding to the changing global and regional architecture, including the Fourth Industrial Revolution, as See “Asean,” A2
Abide by ‘constitution of the oceans’–Locsin
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HE UN Convention on the Law of the Sea (Unclos) is the “constitution of the oceans,” and all members of the United Nations and the International Maritime Organization (IMO) must help enforce it, and not simply pay lip service to it, Foreign Affairs Secretary Teodoro Locsin Jr. said. As an example of a key Unclos provision, Locsin said rescuing those in distress is a universal obligation of people and governments, and it is considered a criminal act if those involved were found to have abandoned that obligation. “It is the obligation of every member-state of the UN and of the
IMO to pay, not just lip service to these conventions, but to observe them in real life-and-death situations,” he said at the 29th meeting of members of the Unclos. The event also marked the 25th anniversary of the coming into force of the Unclos. Locsin was referring to the June 9 ramming of an anchored Filipino fishing boat by a Chinese fishing vessel at the Recto (Reed) Bank in the South China Sea on Sunday. The captain of the Filipino fishing boat said the Chinese vessel came back to survey what happened after hitting them, illuminating the area with powerful lights, but left
INTERTROPICAL CONVERGENCE ZONE AFFECTING MINDANAO as of 4:00 am - June 18, 2019
without offering assistance. The 22 crew members were then left to fend for themselves before being picked up by a Vietnamese fishing boat. They were ultimately recovered by the Philippine Navy. Investigation is under way and Chinese Ambassador Zhao Jianhua said his government vowed to punish the parties involved if they were found to have violated international law requiring mariners to come to the aid of those in distress. However, the Chinese version of what happened has been met with incredulity among Filipino groups after Beijing shared that initial re-
port. There, the Chinese said they accidentally hit the Filipino boat, the Gemver 1, as they tried to flee an area where at least “seven to eight” Filipino boats were besieging them. In his speech at the UN in New York, Locsin said, “The rescue of persons in distress is a universally recognized obligation of people and governments; and in the civil law and, maybe even in common law, it is a felony to abandon people in distress; especially when we cause that distress; and more so when it is no bother at all to save them at no risk to oneself.” See “Locsin,” A2
Recto Bank test case for invoking MDT–Ping
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EN. Panfilo Lacson expressed disappointment over President Duterte’s description as a simple “maritime incident” of the hit-and-run case involving a Chinese vessel and a boat of Filipino fishermen in the West Philippine Sea (WPS). “It is disappointing to say the least,” Lacson said in an interview on Tuesday, citing statements by Duterte Cabinet officials who, he said, had earlier made it clear it was not a small maritime incident, as the President characterized it in a speech before the Navy on Monday. Lacson cited the initial remarks of Cabinet Secretary Karlo Nograles and Presidential Spokesman Salvador Panelo. The first to report and denounce the June 9 incident at Recto Bank was Defense Secretary Delfin Lorenzana. He was followed by Foreign Affairs Secretary Teodoro L. Locsin Jr. Both men said the Chinese side’s act of abandoning the 22 Filipinos after their boat sank was a condemnable act. Referring to Duterte’s remarks, after a weeklong silence, before the Navy on Monday, Lacson admitted he was disappointed “because, coming from the President himself, we waited so long for him to break his silence, only to hear him say that; what I see is that he didn’t even attempt to explore all available resources that can be applied in that case, especially the provisions of the MDT,” Lacson said in a mix of English and Filipino. The MDT he cited refers to the 1951 RP-US Mutual Defense Treaty. The senator recalled that “very recently we heard US State Secretary Mike Pompeo” affirming that the US and the Philippines are both obligated to act when there is an attack on either one’s vessel, “whether it’s a military or civilian vessel, [for as long as it’s in the] Pacific Ocean.” See “Recto Bank,” A2
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PCC CUTS REVIEW PERIOD FOR MERGER PROPOSALS
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HE country’s antitrust body has trimmed to 15 working days, from 30 calendar days, its review period for merger proposals in line with the government’s policy on ease of doing business (EODB). In a commission resolution in May, the Philippine Competition Commission (PCC) hastened its review process for mergers that are less likely to substantially prevent, lessen or restrict competition in their relevant markets. The expedited review for merger proposals will take 15 working days under the first phase assessment. Merging firms can apply for the faster review within 30 days after reaching a definitive agreement on the deal, but should be prior to any acts of consummation. Qualified for the expedited review are transactions with no overlaps. There should be no actual or potential horizontal or vertical business relationship in the Philippines between the acquiring party and the acquired entity, as well as the entities under it.
Also eligible to apply for the faster review are global transactions where the acquiring and acquired parties are foreign firms and their subsidiaries in the country act as mere manufacturers or assemblers. However, the local subsidiary should export 95 percent of its products to its foreign parents, affiliates or third parties that are operating outside of the Philippines. Also, the remaining 5 percent of products sold locally must be minimal in relation to the entirety of its relevant market. Moreover, if the merging parties are doing business globally and their presence in the country is negligible, then they, too, are qualified for the expedited review. Further, joint ventures for real-estate projects can also seek a quicker assessment of their transaction. However, the joint venture—incorporated or not—must be formed purely for the purpose of construction and development of a residential or commercial real-estate project. See “PCC,” A2
‘Different versions behind DU30 cautious stance on Recto Bank’
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RESIDENT Duterte does not want the Recto Bank incident to be blown into an international crisis that could endanger trade and diplomatic relations between two countries and affect the situation of overseas Filipino workers in China and Filipino fishermen in the area, Malacanang said on Tuesday. The Palace said the Philippine government can also sue the Chinese fishermen with reckless imprudence resulting in damage to property in a local court should the facts prove it. “The President is a very cautious person and as a lawyer he is trained to listen to all sides especially because there are adversarial claims,” said Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo in a Palace briefing. “The versions are different that is why he is being more careful because he does not want this blown into an international crisis given the fact that—you know it look a along time for the bilateral relations to change from the time of the previous administration wherein the bilateral relations were bad; and this was nurtured and fixed by the President. We had warm relations and we had trade relations.” He added, “So he is caring for this; at
the same time, he is thinking of the welfare of 320,000 overseas workers in China [and] . . . he is also thinking of the welfare of Filipinos fishing in Recto Bank. Those were among the things being balanced by the President.” Panelo said the officials during the joint Cabinet cluster meeting on Monday also opined that there may be a lot of repercussions if the government decides to take action; hence, the need for further investigation into the incident. Panelo made the remarks a day after the President broke his silence and called the Recto Bank incident which resulted to the sinking of Filipino fishing boat F/B Gem-Vir1 that endangered the lives of 22 fishermen a “little maritime accident.” Meanwhile, Cabinet Secretary Karlo Alexei B. Nograles told reporters that there is no need for the country to invoke the US-PH Mutual Defense Treaty (MDT) at this point, contrary to what was earlier suggested by Senator Panfilo Lacson. “MDT can only be used if there is an armed attack on a public vessel, on troops, on an airship. That’s when the MDT takes effect,” Nograles said. “If it is not a military attack then I don’t think that mechanism is even available,” he added. Bernadette D. Nicolas
USAID, ADB partner on $7-B clean energy TA program
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RIVATE-SECTOR firms in the Philippines and other countries in the Asia and the Pacific region can access a new technical assistance support for clean energy investments from the United States Agency for International Development (USAID) and the Asian Development Bank (ADB). In a briefing on Tuesday, the ADB said the agreement aims to mobilize $7 billion in technical assistance, particularly in the Indo-Pacific region, in the next five years. The agreement was signed by ADB Strategy, Policy and Review Department Director General Tomoyuki Kimura and USAID Asia Bureau Acting Assistant Administrator Gloria D. Steele at the sidelines of the Asia Clean Energy Forum (Acef) at the ADB headquarters. “This initiative is going to provide technical support services that will bring companies and businesses together. It will try to mobilize financing for projects in the energy sector. It will not provide loans but it will try to get companies to work together to mobilize resources to finance energy projects in various countries in the region,” Steele said. The agreement aims to accelerate
the transition to a more sustainable, secure, and market-driven energy sector in Asia and the Pacific. It will boost the capacity of clean energy systems by 6 gigawatts and increase regional energy trade by 10 percent over the next five years. Kimura said the agreement is in line with the ADB’s Strategy 2030, which was finalized last year. The areas of focus of these energy projects include increasing energy access and deployment of advanced energy systems; improving performance of energy utilities; and enhancing regional integration and energy trade. Steele added that the new partnership between the USAID and ADB is a first in the long years of cooperation between the two institutions. Kimura said USAID has partnered with ADB in efforts such as the conduct of the Acef since 2006 and in projects in the Coral Triangle Initiative. “ADB welcomes the increased engagement by the USAID and the US government through its new Indo-Pacific strategy. And in particular, the energy sector through its EDGE [Enhancing Development and Growth through Energy] Initiative,” Kimura said. Cai U. Ordinario
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Grab riders advised to use carpool service G By Lorenz S. Marasigan
@lorenzmarasigan
RAB admitted on Tuesday its allocation rate has dwindled due to the deactivation of 5,000 of its transport network vehicle service (TNVS) units, and advised users to book for its carpooling service while it addresses the dearth of service cars on the road. Nicka Hosaka, the company’s spokesman, said her group is now facing the “challenge” of allotting vehicles for users after it deactivated more than a tenth of its supply of cars due to their lack of franchise.
“Grab aligns itself with the Filipino people in improving the state of transportation in the country, and continues to work on meaningful initiatives that aim to ease the industry’s pain points, and uplift the lives of
many Filipinos,” she said. “As demand continues to grow, there are simply not enough TNVS to ferry Filipino commuters.” Hosaka noted the industry needs to onboard between 15,000 vehicles and 20,000 vehicles to meet the current demand in the ride-hailing sector. It is estimated that Grab receives roughly 700,000 to 800,000 booking requests daily. “Social solutions such as GrabShare, has been launched to help maximize the cars on the road, and be able to service as many passengers as possible—thus minimizing the effects of the recent 5,000 TNVS deactivation. However, these are merely remedial steps as 15,000 to 20,000 more TNVS units are needed to address the current demand,” Hosaka said. Today, Grab’s pool of vehicles
has dwindled to about 40,000 TNVS after it deactivated 5,000 units in its system. The number of active drivers varies per day due to number coding, and frequency of service, among others. Sunday saw commuter network The Passenger Forum (TPF) releasing an online survey that noted 78 percent of passengers “suffered more frequent and expensive fares due to surge pricing.” “Aside from more frequent and higher fares, our survey also found that 72 percent of TNVS passengers experienced difficulty in booking after the June 10 deactivation of TNVS units,” Grab said. Grab noted, however, that its fare matrix is “still within the approved” limits set by the Land Transportation Franchising and Regulatory Board.
AEV to raise ₧5B from bond float By VG Cabuag @villygc
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BOITIZ Equity Ventures Inc. (AEV) on Tuesday said it received the approval from the Philippine Dealing and Exchange Corp. (PDEx) to list the first tranche of its P30billion fixed-rate bonds. The company said it will initially list P5 billion worth of debt—P3 bil-
lion as its principal amount and P2 billion in oversubscription option. The debt paper will be issued in two series. Series A will have a fixed interest rate of 6.0157 percent per annum maturing in 2024, and Series B will have a fixed interest rate of 6.321 percent per annum, maturing in 2029. “The PDEx approval paves the way for the secondary-market trading of the bonds,” the com-
pany said in its disclosure. Earlier this month, the Securities and Exchange Commission approved AEV’s public offer of its fixed-rate bonds in the aggregate principal amount of up to P30 billion, to be issued in tranches. The remaining balance of the bonds shall be lodged under the SEC ’s shelf-reg istrat ion pro gram and may be raised in future tranches, it said.
Real-estate exec: PHL can be a REIT star in Asia By Rizal Raoul S. Reyes
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N executive of an integ rated rea l- estate service provider said the Philippines can be a sensation in Real Estate Investment Trust (REIT). “REITs have the power to democratize the Philippine property market, allowing the individual investor on the street to invest in high-value real-estate assets along with the big players,” Santos Knight Frank (SKF) Chairman and CEO Rick Santos said in a press briefing on Monday in Makati City. “We believe REITs will substantially boost the Philippines’s capital market. New capital for developers will enable expansion of the real-estate sector not only in Metro Manila, but also in the provinces,” Santos said. Since the passing of Republic Act 9856 in 2009, Santos said
the real-estate market has been anticipating the realization of the REIT. A REIT is a publicly listed stock corporation that owns income-generating realestate assets, such as malls, offices and hotels. Envisioned to promote the development of the capital market, REITs are instruments to generate capital. REIT companies are also mandated by law to distribute 90 percent of their retained earnings as dividends, which benefit investors. With the recent move by the government to amend rules on REITs, developers have been increasingly looking at listing their income-generating assets as REIT companies. SKF said the potential in REIT is huge that the firm has estimated the prime and Grade A office market in Metro Manila’s four major central business districts (Bay Area, Makati, BGC and Ortigas) at
P1.02 trillion. Santos said REITs are not only limited to office assets. With 4.3 million square meters in gross leasable area in Manila’s retail, Santos Knight Frank expects developers to convert mall assets into REIT companies. Assets, such as energy, infrastructure, transportation, hospitals, schools and tourism have also been converted into REITs in other countries.” SKF Senior Director for Research and Consultancy Jan Custodio said. Santos said the current business environment is a good time to push REIT in the country. He pointed out REITs have outperformed their non-REIT and overall domestic market over the past one to five years in major Asia Pacific markets, according to Knight Frank’s analysis of REITs in Singapore, Japan, Hong Kong and Australia from Thomson Reuters Datastream.
PAL has new OIC president
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EGACY carrier Philippine Airlines (PAL) has appointed Vivienne K. Tan, a daughter of Lucio C. Tan, as its officer in charge following the retirement of longtime president Jaime J. Bautista. The younger Tan, who will continue to sit as the company’s EVP, treasurer, and chief administrative officer, assured the airline’s customers, business partners and employees, that PAL will continue to be “business as usual” despite the changing of the guard. “On behalf of my father, I am ask-
ing all of you to continue working towards our goals. I am personally committed to working with all of you hand in hand and build on what we have already accomplished,” she was quoted as saying in a statement on Tuesday. Bautista, who was reappointed as PAL’s president after the LT Group regained full control of the airline in 2014, retired after years of leading the company to its 4-star rating glory. He was not readily available for questions. Viviene has on her belt 25 years of
VIVIENNE TAN
professional experience in technology, education, social advocacy and entrepreneurship in industries such as education, airline and property development. Lorenz S. Marasigan and Recto Mercene
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Absolut in talks with MVP to build wasteto-energy facility By Lenie Lectura
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@llectura
BSOLUT Distillers Inc. (ADI) is in talks with the group of Manuel V. Pangilinan to jointly develop renewable energy (RE), particularly waste-to-energy facility. “We are talking to Metro Pacific, also a group owned by [Manuel V. Pangilinan], to jointly develop in converting our wastewater to energy. They call the company MetPower. This will complement hand in hand with our acquisition of Central Azucarera Don Pedro Inc.,” ADI Chief Operating Officer and Head of distillery operations Gerardo T. Tee said. The company, he explained, wa nt s to ut i l i ze t he d i st i l lery’s wastewater and convert this to a source of energy. “We want to sell our wastewater to make it a commodity. We want to be the first distillery, at least in this region, to make our wastewater a commodity. Our wastewater has high biological oxygen demand and that is equivalent to methane gas which
can be converted to energy when you place it in a digester in a bioreactor,” Tee said. Tee explained that ADI’s existing bioethanol facility has a digester, an equipment that produces methane gas which is then fed to its wastewater to metabolize bacteria and reduce pollution. The resulting organic waste has a potential for biogas that can be used to produce energy. The waste-to-energy facility may have a capacity of 3.5 megawatts (MW). “These are the synergies that we can have,” Tee said, referring to Pangilinan group. ADI is also in talks with the camp of Pangilinan to rebid for the assets of sugar milling firm CADP. “We are talking to MVP about this. We are trying to rebid because the last bid we submitted was quite low. Last time—three or four weeks ago—we submitted I think P4 billion something. I’ve been trying to get CADP for the last two years because it is just adjacent to my plant. Separated lang kami by a river,” Tee said earlier. The revised bid is expected to be submitted this week.
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PSE STOCK QUOTATIONS
June 18, 2019
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE
58.75 138.2 80.1 26.8 11.62 72.6 13.2 50.1 57.5 112 28 162.5 58.1 1.24 2.26 18.5 4.85 0.49 756.5 0.96 185 1755
58.8 138.3 80.25 26.85 11.64 72.65 13.5 51.45 57.75 119.9 28.1 164 58.9 1.26 2.28 18.6 4.9 0.5 790 0.97 189 1820
58.4 138 81.25 26.85 11.54 72 13.2 51.9 57.5 112 28.35 168.8 59.9 1.24 2.26 18.7 4.8 0.51 756.5 0.96 185 1755
58.85 138.7 81.25 26.9 11.68 73 13.2 51.9 57.5 112 28.5 168.8 59.9 1.26 2.26 18.7 5.07 0.51 756.5 0.98 185 1755
58.4 137.4 79.95 26.8 11.52 71.6 13.2 49.1 57.25 112 27.5 162.5 58 1.24 2.26 18.5 4.76 0.49 756.5 0.96 185 1755
58.85 138.2 80.1 26.85 11.64 72.6 13.2 50.1 57.5 112 28.05 162.5 58 1.26 2.26 18.5 4.9 0.5 756.5 0.96 185 1755
3660 2396160 1041370 97700 392900 9533510 30200 640290 1630 10 212400 634000 49540 104000 1000 121100 2239000 115000 10 133000 20 5
215115.5 330279744 83582993.5 2623215 4554628 688503633 398640 32470753.5 93675 1120 5927175 104387834 2921678.5 130320 2260 2256560 11052230 57530 7565 127950 3700 8775
212775 17802282 8558502.5 -306090 -420963.9997 -39558693.5 735501.5 -1102055 -31431425 -932958.5 -639540 86640 -
INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE 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 SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA LMG CHEMICALS PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG
1.38 34.8 0.285 24.05 76.4 380 23.65 5.9 4.4 2.64 11.96 37.3 6.47 14.3 14.94 5.48 10.4 7.53 104.8 0.75 51 281.8 9.35 13.46 0.186 1.32 13.96 1.47 1.86 0.125 173.9 1.25 2.72 64.05 63.1 2.61 5.3 15.96 10.12 13.76 19.4 9.01 1.29 1.32 112 2.03 4.17 4.95 43.5 2.37 10 1.67 5.7 1.16 23.55
ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG
0.71 12.54 896.5 54 15.1 3.62 6.7 0.76 1.27 1.3 6.75 10.12 13.76 0.242 876 6.22 62.15 5.74 0.47 4.36 15.18 0.59 4.56 0.038 1.23 1.32 427 937 178.8 0.86 2.38 265 0.232 0.305
1.4 34.85 0.29 24.1 76.5 382 23.7 5.91 4.56 2.65 12.08 37.35 6.5 14.38 15 5.75 10.42 7.54 105 0.76 51.05 282 9.4 13.48 0.19 1.34 14 1.49 1.88 0.133 174 1.26 2.86 69.9 88.95 2.62 5.45 16 10.2 13.82 19.42 9.1 1.3 1.33 117.4 2.04 4.18 4.98 44.65 2.38 10.02 1.68 5.72 1.17 23.75
1.38 34.9 0.28 23.8 76.55 382 23.65 5.92 4.37 2.51 12 38.75 6.55 14.42 14.9 5.47 10.28 7.54 106 0.73 50.45 282 9.6 13.6 0.186 1.31 13.76 1.49 1.88 0.124 170 1.28 2.8 69.8 63.1 2.66 5.35 15.94 10.28 13.74 19.3 9.02 1.31 1.35 112 2 4.17 4.9 44 2.34 10.1 1.67 5.65 1.16 24.1
1.4 35.5 0.29 24.3 76.55 382 23.65 5.96 4.56 2.66 12.1 39.95 6.55 14.44 14.98 5.78 10.44 7.6 106 0.75 51 282 9.6 13.86 0.19 1.34 14 1.49 1.95 0.133 173.9 1.3 2.9 69.95 63.1 2.67 5.35 16 10.48 13.82 19.44 9.02 1.33 1.39 112 2.03 4.17 4.95 44.7 2.4 10.1 1.68 5.71 1.16 24.1
1.38 34.8 0.28 23.8 76.4 376.2 23.5 5.91 4.37 2.5 12 37.3 6.46 14.24 14.84 5.47 10.26 7.51 105 0.73 50 277 9.4 13.2 0.186 1.3 13.46 1.46 1.88 0.124 169 1.24 2.75 69.8 63.1 2.61 5.35 15.92 10.1 13.74 19.22 9.02 1.27 1.3 112 2 4.17 4.9 44 2.34 10 1.67 5.65 1.12 23.8
1.4 34.85 0.285 24.05 76.5 382 23.65 5.91 4.56 2.65 12.08 37.35 6.5 14.38 14.94 5.48 10.4 7.54 105 0.75 51 282 9.4 13.46 0.19 1.34 14 1.49 1.9 0.125 173.9 1.25 2.85 69.95 63.1 2.62 5.35 16 10.12 13.82 19.42 9.02 1.3 1.33 112 2.03 4.17 4.95 44.65 2.37 10 1.67 5.7 1.16 23.8
3000 1021500 5300000 1385000 43630 171360 83400 1467200 73000 43103000 7047500 778700 45500 736600 1105700 4900 4062800 2070900 84440 1254000 172260 683400 8600 742300 600000 5930000 1214300 31000 178000 780000 1001760 6142000 174000 900 10 14351000 15100 203800 330000 258200 946300 2800 596000 10594000 20 114000 5000 61000 3600 2569000 98900 193000 31500 360000 102500
4160 35618605 374740 1512700 33373230 21058890 3336102.5 -1383232.5 65052202 25134598 1970210 139235 8702518 -1369802 321690 111980810 10724470 84572300 -84014420 29,657,515( 11,980,110.0003) 295874 10591126 925036 16482200 14928054 27017 42096868 14850087.9996 15641912 -7279120 8882439 -5340894 933070 8749735.5 2956661 191624072 -36137474 81060 10105136 532424 112360 7914300 -3099230 16788706 993732 45530 337720 98040 173373799 13765427 7737370 220690 496310 62892 631 38053730 7006960 80785 3256562 3148052 3393246 2064971.9997 3552488 24656 18343968 3463254 25256 771530 14265040 188180 2240 229350 20850 301610 267300 159220 -280 6121230 -7140 992450 -134270 322350 179738 408630 2453730 -942065
HOLDING & FRIMS 0.72 12.86 900 55 15.2 3.63 6.78 0.78 1.28 1.33 6.79 10.16 14.06 0.255 880 6.5 63.85 6.1 0.5 4.4 15.2 0.6 4.57 0.039 1.25 1.34 450 947.5 179 0.9 2.48 270 0.239 0.31
0.72 12.98 899 54.05 15.4 3.74 6.7 0.76 1.3 1.3 6.62 10.16 14.18 0.245 850.5 6.22 61.7 5.91 0.5 4.26 15.22 0.59 4.6 0.038 1.26 1.35 434 945 179.8 0.85 2.38 264.4 0.23 0.31
0.73 12.98 900 55 15.4 3.8 6.7 0.78 1.3 1.3 6.86 10.2 14.18 0.255 880 6.22 63.85 6.1 0.5 4.44 15.4 0.61 4.6 0.039 1.3 1.35 434 957.5 179.8 0.9 2.38 270 0.239 0.31
0.7 12.5 892.5 53.6 15.08 3.6 6.7 0.76 1.27 1.3 6.62 10.1 13.74 0.24 850.5 6.22 61.7 5.9 0.47 4.26 15.18 0.59 4.54 0.038 1.19 1.32 434 936.5 178.4 0.83 2.38 264.4 0.23 0.305
0.72 12.88 900 55 15.1 3.62 6.7 0.76 1.28 1.3 6.75 10.12 14.06 0.255 880 6.22 63.85 6.1 0.5 4.4 15.2 0.6 4.56 0.039 1.22 1.35 434 947.5 178.8 0.9 2.38 270 0.239 0.31
16275000 48900 418630 891270 3313300 15942000 25900 374000 1855000 155000 123700 4895700 11600 60000 253330 4000 856340 7700 11000 434000 593800 491000 14992000 2100000 1887000 105000 130 156910 403730 980000 4000 80280 1660000 3550000
11633230 753960 617152 375699040 -17569800 48395100.5 -5270496 50118694 -27651788 58956270 1025450 173530 173530 287930 2368590 201500 825500 -35343 49,549,194( 36,054,624.0003) 162802 -21312 14750 221716825 152688040 24880 53969592.5 18692497 45460 5335 1894690 14579.9998 9028310 -6027446 295250 68449210 16022000 80400 26600 2344100 140010 11900 56420 148224440 44000095 72237012 -11729159 832940 -8500 9520 21674686 21578848.0001 389070 1095950 150550
PROPERTY
ARTHALAND CORP 0.83 0.84 0.83 0.88 0.82 0.84 11650000 9954550 11570 ANCHOR LAND 10.08 11.3 11 11 11 11 4800 52800 AYALA LAND 49.9 50 50.05 50.85 49.9 49.9 9667740 486224656.5 34810467 ARANETA PROP 2.03 2.09 2.04 2.1 2.03 2.03 431000 878280 BELLE CORP 2.32 2.34 2.33 2.35 2.31 2.31 182000 421980 -13890 A BROWN 0.78 0.8 0.79 0.8 0.78 0.78 666000 524840 CITYLAND DEVT 0.87 0.89 0.87 0.9 0.86 0.9 53000 46540 CROWN EQUITIES 0.227 0.229 0.232 0.232 0.226 0.229 310000 71260 CEBU HLDG 6.12 6.25 6.25 6.35 6.25 6.35 1200 7520 -7520 CEB LANDMASTERS 4.9 4.91 4.84 4.92 4.84 4.91 777000 3807060 -880999.9998 CENTURY PROP 0.57 0.58 0.58 0.59 0.57 0.58 20467000 11865230 -491840 CYBER BAY 0.47 0.475 0.465 0.48 0.46 0.47 3020000 1406600 DOUBLEDRAGON 25.8 25.95 25.9 26.15 25.8 25.95 303300 7864785 3245535 DM WENCESLAO 9.99 10 9.96 10 9.92 10 135900 1353275 774181.0001 EMPIRE EAST 0.475 0.48 0.48 0.48 0.47 0.475 190000 90350 EVER GOTESCO 0.125 0.133 0.125 0.125 0.125 0.125 60000 7500 FILINVEST LAND 1.68 1.69 1.71 1.72 1.68 1.68 34524000 58366010 -39401410 GLOBAL ESTATE 1.28 1.29 1.32 1.32 1.28 1.28 6565000 8519710 -85140 8990 HLDG 15.6 15.78 15.86 16.1 15.6 15.6 729000 11445546 -131010.0002 PHIL INFRADEV 1.87 1.88 1.83 1.88 1.81 1.88 4403000 8102330 1405290 KEPPEL PROP 3.97 4.68 4.79 4.79 4.68 4.68 8000 37590 CITY AND LAND 0.87 0.9 0.89 0.93 0.88 0.9 300000 271090 -26100 MEGAWORLD 5.91 5.94 5.95 5.95 5.89 5.91 8147200 48162017 25674636 MRC ALLIED 0.32 0.325 0.32 0.325 0.315 0.32 6300000 2007500 -67200 PHIL ESTATES 0.455 0.465 0.465 0.465 0.455 0.46 50000 23100 PRIMEX CORP 2.18 2.2 2.07 2.2 2.05 2.2 6037000 12874660 302610 ROBINSONS LAND 25.1 25.55 25.45 26 25 25.5 1714900 43615110 9787465 PHIL REALTY 0.415 0.425 0.41 0.42 0.41 0.42 550000 229650 ROCKWELL 2.12 2.14 2.15 2.15 2.11 2.12 47000 100100 2130 SHANG PROP 2.99 3 2.99 2.99 2.98 2.99 4128000 12302720 STA LUCIA LAND 1.98 2 1.98 2 1.98 2 377000 750790 SM PRIME HLDG 38.1 38.4 38.25 38.75 38 38.1 6719300 256376395 -52154220 STARMALLS 6.08 6.1 6.18 6.18 6.08 6.1 247100 1513753 SUNTRUST HOME 0.76 0.78 0.78 0.78 0.78 0.78 136000 106080 VISTA LAND 7.13 7.14 7.05 7.14 7.02 7.14 3133000 22253432 -8833731 SERVICES ABS CBN 17.08 17.1 17 17.2 17 17.1 76500 1311594 GMA NETWORK 5.38 5.39 5.35 5.39 5.34 5.39 28300 151592 MANILA BULLETIN 0.55 0.56 0.57 0.57 0.55 0.55 489000 271890 MLA BRDCASTING 14.42 15.5 15 15.5 15 15.5 600 9150 GLOBE TELECOM 2160 2200 2144 2200 2144 2200 33680 73807270 -6888990 PLDT 1178 1180 1195 1206 1164 1178 190270 224485435 -21742685 APOLLO GLOBAL 0.042 0.044 0.043 0.044 0.041 0.042 11600000 483700 DFNN INC 5.9 6.37 5.9 5.9 5.9 5.9 1000 5900 IMPERIAL 1.75 1.85 1.86 1.86 1.78 1.85 10000 18020 ISLAND INFO 0.118 0.121 0.119 0.122 0.119 0.121 310000 37450 ISM COMM 6.68 6.69 6.69 6.82 6.62 6.68 8040700 54018579 -296879 NOW CORP 2.4 2.44 2.44 2.48 2.4 2.44 1209000 2949200 324050 TRANSPACIFIC BR 0.385 0.39 0.385 0.39 0.38 0.385 6260000 2409750 96250 PHILWEB 3.63 3.64 3.7 3.75 3.64 3.64 2217000 8185570 286040 2GO GROUP 10.82 10.86 11 11 10.8 10.86 28200 307046 1080 ASIAN TERMINALS 20.65 21.45 21.45 21.45 20.65 21.45 1800 38210 CHELSEA 7.5 7.51 7.11 7.5 7.1 7.5 7196700 52989415 1884143 CEBU AIR 86 86.1 86.5 86.7 85.5 86.1 69450 5971378.5 1338978 INTL CONTAINER 146.8 147.8 143.1 147.8 143.1 147.8 1526510 222840902 62263037 LBC EXPRESS 13.46 15 15.4 15.4 15.4 15.4 100 1540 LORENZO SHIPPNG 0.82 0.84 0.81 0.84 0.81 0.84 278000 226050 MACROASIA 19.14 19.18 19.1 19.24 18.7 19.18 1652400 31657784 19850720 METROALLIANCE A 1.51 1.72 1.66 1.78 1.66 1.76 78000 136060 PAL HLDG 9.2 9.3 9.25 9.34 9.01 9.3 43700 400485 HARBOR STAR 2.33 2.34 2.33 2.36 2.28 2.33 2191000 5105640 -347999.9999 ACESITE HOTEL 1.32 1.39 1.37 1.38 1.37 1.38 30000 41370 BOULEVARD HLDG 0.058 0.059 0.056 0.059 0.056 0.059 77240000 4469050 -100400 GRAND PLAZA 9.88 10.52 9.88 9.88 9.88 9.88 100 988 WATERFRONT 0.73 0.74 0.75 0.75 0.73 0.74 874000 647750 CENTRO ESCOLAR 7 7.23 7.23 7.23 7 7 22800 159650 8412 IPEOPLE 9.86 10.14 10.08 10.08 10.08 10.08 2200 22176 STI HLDG 0.74 0.75 0.73 0.75 0.73 0.75 10129000 7509490 1175500 BERJAYA 2.71 2.75 2.85 2.85 2.7 2.71 1708000 4701500 BLOOMBERRY 11.4 11.42 11.56 11.58 11.32 11.4 2058000 23561216 -16193116 PACIFIC ONLINE 3.06 3.07 3.07 3.08 3.06 3.07 175000 536980 -153350 LEISURE AND RES 4.25 4.29 4.1 4.31 4.05 4.29 1251000 5285900 256760 MANILA JOCKEY 3.25 3.38 3.4 3.4 3.25 3.25 62000 204650 PH RESORTS GRP 4.78 5 4.92 5 4.92 5 9900 49135 PREMIUM LEISURE 0.8 0.81 0.81 0.81 0.8 0.81 2381000 1922970 179700 TRAVELLERS 5.08 5.09 5.11 5.11 5.05 5.09 219600 1114775 -543509 METRO RETAIL 2.42 2.43 2.56 2.56 2.42 2.43 5348000 13327290 -474579.9997 PUREGOLD 44.9 45 45.45 45.5 44.9 45 504900 22794300 -2275610 ROBINSONS RTL 76.6 76.65 76.3 76.65 76 76.6 647520 49520480.5 -6232331 PHIL SEVEN CORP 131 132 131 131 130 131 5500 718350 47050 SSI GROUP 3.46 3.47 3.42 3.47 3.4 3.46 6443000 22165540 8972960 WILCON DEPOT 16.86 16.9 16.7 16.98 16.7 16.86 373000 6307708 2915223.9998 APC GROUP 0.46 0.465 0.45 0.47 0.45 0.46 6790000 3121900 EASYCALL 10.2 10.3 10.2 10.38 10.18 10.3 32500 332278 GOLDEN BRIA 400.2 411.8 403 411.8 400.2 411.8 940 385048 -12354 IPM HLDG 5.8 6 5.8 5.8 5.8 5.8 5000 29000 PRMIERE HORIZON 0.79 0.8 0.81 0.81 0.79 0.8 10994000 8795190 -32800 SBS PHIL CORP 9.4 9.48 9.48 9.49 9.48 9.49 12000 113790 MINING & OIL ATOK 10.66 12.3 12.34 12.34 12.34 12.34 200 2468 APEX MINING 1.17 1.18 1.2 1.2 1.17 1.18 862000 1018120 -359980 ABRA MINING 0.0017 0.0019 0.0018 0.0018 0.0018 0.0018 1033000000 1859400 ATLAS MINING 2.71 2.85 2.69 2.85 2.68 2.85 297000 819080 BENGUET A 1.14 1.25 1.25 1.25 1.25 1.25 2000 2500 COAL ASIA HLDG 0.28 0.29 0.29 0.29 0.28 0.285 630000 178850 CENTURY PEAK 2.8 2.85 2.82 2.82 2.76 2.8 2123000 5913790 -2174420 DIZON MINES 7.55 7.62 7.63 7.65 7.55 7.62 20900 158614 FERRONICKEL 1.47 1.48 1.46 1.48 1.41 1.48 22880000 33812200 1323790 GEOGRACE 0.222 0.229 0.232 0.232 0.222 0.229 160000 36050 LEPANTO A 0.11 0.112 0.108 0.11 0.107 0.11 1200000 129500 LEPANTO B 0.11 0.12 0.11 0.11 0.11 0.11 30000 3300 MANILA MINING B 0.0074 0.0079 0.0074 0.0074 0.0074 0.0074 1000000 7400 MARCVENTURES 1.04 1.06 1.04 1.06 1.04 1.06 94000 99260 NIHAO 0.96 1.01 1.01 1.01 0.96 0.96 48000 46310 NICKEL ASIA 2.11 2.12 2.11 2.2 2.11 2.12 1466000 3123190 -2233160 OMICO CORP 0.56 0.58 0.56 0.56 0.56 0.56 17000 9520 -2240 ORNTL PENINSULA 0.85 0.86 0.87 0.87 0.85 0.85 384000 328610 PX MINING 3.14 3.15 3 3.19 3 3.14 1101000 3436970 -466210 SEMIRARA MINING 21.7 21.75 22.1 22.1 21.6 21.75 370600 8064580 -869220 UNITED PARAGON 0.0063 0.0068 0.0063 0.0063 0.0063 0.0063 4000000 25200 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 700000 7700 ORNTL PETROL B 0.011 0.013 0.011 0.011 0.011 0.011 2000000 22000 -22000 PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.011 2300000 23100 PHINMA PETRO 4.2 4.3 4.26 4.38 4.18 4.2 415000 1762340 8400 PXP ENERGY 7.16 7.24 7.25 7.27 7.12 7.16 520400 3742864 26115 PREFFERED AC PREF B1 461.2 484 474 488 460.8 460.8 22610 10517596 AC PREF B2 485 486 497 497 486 486 560 272410 4860 ALCO PREF B 98 99.9 98 98.05 98 98.05 8000 784150 DD PREF 97.2 98.5 97.5 97.5 97.5 97.5 10000 975000 SMC FB PREF 2 940 980 963 975 960 963 2840 2731450 FGEN PREF G 106.5 109.5 107.8 108 106 106.5 14030 1510543 GLO PREF P 485.2 493 485 485 485 485 150 72750 33950 GTCAP PREF A 900 917.5 899 900 899 900 570 512730 GTCAP PREF B 902 950 902 902 902 902 200 180400 LR PREF 0.99 1 1 1 1 1 16000 16000 MWIDE PREF 100.4 102.5 102.5 102.5 102.5 102.5 20 2050 -2050 PNX PREF 3B 103 106.9 103.2 103.2 103.2 103.2 1300 134160 PCOR PREF 2A 986 999.5 995 998 995 998 350 348700 SMC PREF 2B 73.5 75.55 75.55 75.55 75.55 75.55 90 6799.5 SMC PREF 2C 76.1 76.5 76.9 76.9 75.5 76 34220 2603742 SMC PREF 2D 71.55 73.7 73.3 73.5 73.3 73.5 2000 146800 SMC PREF 2E 72 73.9 72 72 72 72 1500 108000 SMC PREF 2I 73 74.5 74.95 74.95 71.5 73.75 17720 1305839.5 -
PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR
17 5.21
17.5 5.53
17 5.45
17.02 5.54
17 5.45
17 5.54
2019600 10000
34333960 55175
WARRANTS LR WARRANT
1.99
SMALL & MEDIUM ENTERPRISES ITALPINAS 4.96 MAKATI FINANCE 2.4 XURPAS 1.04
2
2.03
2.03
1.98
1.99
140000
280210
-
5 2.78 1.05
4.98 2.17 1.11
5.04 2.17 1.15
4.95 2.17 1.04
4.96 2.17 1.04
286000 1000 26582000
1424430 2170 29199290
393990 -768870
EXHANGE TRADE FUNDS FIRST METRO ETF
118.6
-646760 -
118.7
119
119.1
118.5
118.7
3850
457574
35700
www.businessmirror.com.ph
Austal to build ships for PHL Navy
A
By Elijah Felice E. Rosales
@alyasjah
USTRALIAN shipbuilder Austal has expanded the capabilities of its Cebu shipyard through a $20-million investment, as it prepares to assemble offshore patrol vessels (OPVs) for the Philippine Navy should it win the bidding. In an interview with reporters on Tuesday, Austal Marketing Manager Paul Sparke said the expansion, which is scheduled for completion in July, will enable Austal Philippines to make larger vessels. Part of it is a 120-meter bay for hull assembly, final outfitting and painting capacity. Sparke added the expansion will capacitate the ship builder to assem-
ble multiple vessels at the same time. “The $20-million [investment] includes the construction of the new ships, [as well as] the 120-meter [assembly bay] that will be able to construct vessels up to 120 meters long. We can also do multiple projects at the same time, so we can have one large ship and then two smaller ships,” Sparke said.
Austal Philippines is preparing to assemble OPVs for the Navy should it win the bidding, Sparke said. “We are bidding at the moment for the OPVs. We are hopeful we will be one of the bidders to win [and] build six OPVs. They are 83 meters long each. We will be able to easily accommodate that build within our new facility,” he said. Austal Philippines is competing with German Lurssen Yachts and Dutch Damen Group in bidding the Navy OPVs. However, the local maker of Austal ships is most advantaged to bag the contract, as it has a shipyard and service facilities in the Philippines. This will apparently make it easier for the naval force to maintain the vessels. “The main difference between us and them is that we have a shipyard in the Philippines. They don’t have shipyards here, [so] they will be building the ships overseas. It is
better for the Philippines and for the Philippine Navy to be building their ships here and servicing them here,” Sparke said. Austal Philippines began operating its Cebu shipyard in 2012. Since then, it was able to deliver 17 ships to 10 operators in nine countries and territories across the world, including the United Kingdom, French Polynesia, United Arab Emirates, South Korea, Spain and Norway. The shipyard began with 30 employees, but now has a labor force of over 900 workers, of which 98 percent are Filipinos, from engineers to designers to skilled laborers. Austal Philippines is assembling a 109-meter passenger ferry, the largest aluminum catamaran to be built in the Philippines, for Norwegian Fjord Line. It is also scheduled to build a 117-meter trimaran, the first of its kind to be put up in the country, for Spanish Fred Olsen SA.
Anti-mining groups want Duterte to cancel OceanaGold’s FTAA
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NTI-MINING groups have asked President Duterte to cancel the financial and/or technical assistance agreement (FTAA) of AustralianCanadian mining firm OceanaGold. OceanaGold through its Philippine subsidiary, OceanaGold Philippines, operates the Didipio mine in the province of Nueva Vizcaya. OceanaGold’s 25-year FTAA license is set to expire after 25 years on June 20, 2019. “Oceanagold’s destructive big mining has been barricaded by indigenous communities, recently opposed in a unanimous provincial council resolution, and is even currently investigated by nine United Nations special rapporteurs. It is high time for the Duterte government to cancel OceanaGold’s FTAA license and compel the destructive mine to answer for its various rights violations,” said Leon Dulce, national coordinator of Kalikasan People’s Network for the Environment, one of the national support groups for the Nueva Vizcaya-wide campaign against the foreign mining company. Representatives from various Nueva Vizcaya-based people’s organizations, Kalikasan PNE, Alyansa Tigil Mina, and the Greenthumb Coalition, together with Nueva Vizcaya Gov. Carlos Padilla and CBCP NASSA Secretary Fr. Edwin Gariguez raised the call for OceanaGold’s FTAA cancellation before Environment Secretary Roy Cimatu in a dialogue at the DENR Central Office. “We believe that more than a decade of human-rights violations and other negative impacts against communities and ecosystems in Nueva Vizcaya are a strong basis for denying the mining company’s extension,” Dulce said. KalikasanPNE said in 2007, Oxfam Australia
came out with a Mining Ombudsman Report narrating how villagers accused OceanaGold of engaging in “harassment and the use of strongarm tactics to pressure them to accept its plans to develop a large gold and copper mine.” “In 2011, the Commission on Human Rights found OceanaGold complicit in the forced evictions of indigenous and peasant families that included the indiscriminate burning of homes from 2008 to 2009,” Kalikasan-PNE added. Meanwhile, a 2014 environmental investigation mission (EIM) led by independent scientist group Agham found damage to forests, air pollution from dusty roads and stockpiles, and massive water pollution, all affecting the health and livelihood of affected residents. In 2017, former Environment Secretary Gina Lopez ordered the suspension of OceanaGold’s operations, but the order was stayed by the Office of the President after the company made an appeal. In the same month, at least 133 families were forced to evacuate their homes and local community leaders experienced threats and intimidation, after military combat operations swooped across the mine’s operational and expansion areas. “To date, villagers in OceanaGold’s host barangay of Didipio have yet to be given their due just compensation from the company. Worse, the villagers have been forced to pay with their rights and civil liberties for being vocal in demanding accountability,” Dulce said. A communication last February by nine special rapporteurs of the UN Human Rights Council, including Special Rapporteur on Environment Prof. John Boyd and Chair-Rapporteur on Business and Human Rights Surya Deva have sought answers
PCC okays JACCS’s buyout of MMPC Auto shares
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HE Philippine Competition Commission (PCC) has approved a Japanese credit lender’s buyout of shares in the financing arm of Mitsubishi Motors Philippines Corp. (MMPC). In a commission decision last week, the PCC gave JACCS Co. Ltd. the green light to carry on with its acquisition of shares in MMPC Auto Financial Services Corp. The transaction will result in JACCS’s buying out shares of BDO Leasing and Finance Inc. and MMPC in Mafs. The PCC argued the transaction will not lead to a substantial lessening of competition in the car loan market. The transaction could even lead to better competition in car loan, as BDO Leasing and Finance offers loans to automobile brands other than Mitsubishi, the PCC said. It added there is
a sufficient number of players in the market that can provide competitive challenge after the acquisition. With the competition body’s approval, JACCS is set to secure BDO Leasing and Finance’s 3,000,000 common shares and MMPC’s 375,000 common shares in Mafs for P165.63 million and P20.7 million, respectively. Mafs is a joint venture of JACCS, BDO Leasing and Finance, MMPC and Sojitz Corp. that provides financing services to individual and corporate buyers of Mitsubishi vehicles. It is projected to bankroll 20,000 units by 2020 on steady growth of the automotive industry. Buying firm JACCS is in the business of consumer credit and financing, providing settlement methods, such as installment credit, for personal and housing loans, among others. Elijah Felice E. Rosales
from the Duterte administration on the series of violations involving the Didipio mine. On Monday, the Provincial Council of Nueva Vizcaya came out with a unanimous resolution calling for the non-extension of OceanaGold’s FTAA.
MUTUAL FUNDS
“We will exercise constant vigilance to make sure the Department of Environment and Natural Resources and the Duterte administration revoke the pro-plunder, pro-polluter FTAA license of OceanaGold. Its license’s expiry will mark the start, not the end, of our watch,” Dulce ended.
June 14, 2019
NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM 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% 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.
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Tensions rise as Iran hastens enrichment, US sends troops
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EHRAN, Iran—Iran will surpass the uranium-stockpile limit set by its nuclear deal in the next 10 days, an official said on Monday, raising pressure on Europeans trying to save the accord a year after the US withdrawal lit the fuse for the heightened tensions now between Tehran and Washington.
Hours later, the two countries seemed locked in a standoff when the Pentagon announced it was sending about 1,000 additional American troops to the Middle East to bolster security in the region in the face of what US officials said was a growing threat from Iran. The earlier announcement by Iran’s nuclear agency marked yet another deadline set by Tehran. President Hassan Rouhani already has warned Europe that a new deal needs to be in place by July 7 or the Islamic Republic would increase its enrichment of uranium. Atomic energy Spokesman Behrouz Kamalvandi suggested that Iran’s enrichment could reach up to 20 percent, just a step away from weapons-grade levels. It appears as if Iran has begun its own maximum pressure campaign on the world after facing one from President Donald J. Trump’s administration that deeply cut into its sale of crude oil abroad and sent its economy into free fall. Europe has so far been unable to offer Iran a way around the US sanctions. The development follows apparent attacks last week in the Strait of Hormuz on oil tankers, assaults that Washington has blamed on Iran. While Iran has denied being involved, it laid mines in the 1980s targeting oil tankers around the narrow mouth of the Persian Gulf through which a fifth of the world’s crude oil passes. “If this condition continues, there will be no deal” anymore, Kamalvandi said. He accused the Europeans of “killing time” as the clock runs down. Rouhani, greeting France’s new
ambassador to Tehran on Monday, similarly warned that time was running out on the deal. “The current situation is very critical and France and the other parties to the [deal] still have a very limited opportunity to play their historic role for saving the deal,” Rouhani said, according to his web site. The Iranian announcement appeared timed to strike just as European foreign ministers met in Luxembourg. Federica Mogherini, the European Union’s top diplomat, declined to specifically address the Iranian announcement. “At the moment, as of today, Iran is still technically compliant and we strongly hope, encourage and expect that Iran continues to comply,” Mogherini told journalists. She insisted she would await the next report on the issue from the UN’s nuclear watchdog, the International Atomic Energy Agency. Under terms of the 2015 nuclear deal with world powers, Iran can keep a stockpile of no more than 300 kilograms (660 pounds) of low-enriched uranium. Kamalvandi said that given Iran’s recent decision to quadruple its production of low-enriched uranium, it would pass the 300-kilogram limit on Thursday, June 27. The Vienna-based IAEA said last month that Iran remained within its stockpile limits and declined to comment on Iran’s announcement. Kamalvandi said Iran would continue to allow the UN to inspect its nuclear facilities for the time being. He also raised the specter of increasing its enrichment levels, saying Iran needs 5 percent enriched uranium for its nuclear power plant
in southern Iranian port of Bushehr and 20 percent enriched fuel for its Tehran research reactor. The nuclear deal limits Iran to enriching uranium only to 3.67 percent, enough for power plants and other peaceful purposes. But after America pulled out of the nuclear accord and escalated sanctions, Rouhani set a July 7 deadline for Europe to come up with better terms for the deal or Tehran would boost enrichment further. So far, a European mechanism called INSTEX to protect trade with Iran has yet to take off. The danger, nuclear nonproliferation experts warn, is that at 20 percent enrichment, only a fraction of atoms need to be removed to enrich up to weapons-grade levels of 90 percent. Iran maintains its nuclear program is for peaceful purposes, but the 2015 deal grew out of Western concerns about the program. Under the accord, Iran agreed to limit its uranium enrichment in exchange for the lifting of economic sanctions. Since Trump took office, the US has steadily stripped away at the accord, and he pulled America out of the deal in May 2018. However, Iran’s announcement that it was on the verge of surpassing the uranium-stockpile limit set by the nuclear agreement put the US in the awkward position of having to push Iran to abide by the deal Trump has disparaged. “It’s unfortunate that they have made this announcement today,” State Department Spokesman Morgan Ortagus said. “It doesn’t surprise anybody and this is why the president has often said that the JCPOA needs to be replaced with a better deal.” Israeli Prime Minister Benjamin Netanyahu said the international community should reinstate sanctions if Iran follows through on its threats, adding: “In any case, Israel will not allow Iran to obtain nuclear weapons.” Tensions have risen in the region since last month. The US rushed an aircraft carrier strike group and other military assets to the Middle East in response to what it said were threats from Iran. On Monday, the Pentagon said it would send additional security forces and troops
for increased surveillance and intelligence gathering in the region. Meanwhile, a series of mysterious attacks have targeted oil tankers, and the US blames Iranian-laid limpet mines. Iranian-backed Houthi rebels in Yemen also have launched a series of drone and missile attacks on Saudi Arabia. The Pentagon on Monday released new photos intended to bolster its case that Iran was responsible for the attacks. Iran’s paramilitary Revolutionary Guard, which the US suspects in the attacks, answers only to Supreme Leader Ayatollah Ali Khamenei and operates outside of the traditional military’s control. Gen. Mohammad Hossein Bagheri, the chief of the general staff of Iran’s armed forces, denied Tehran was involved in the tanker attacks, saying on Monday the country only would respond in “an open, strong and severe way” if needed. But he also reiterated Iran’s traditional stance on the Strait of Hormuz. “If we decide to block the Strait of Hormuz, we will do it in a way that even a drop of oil won’t pass the strait,” Bagheri added. Kamalvandi spoke to Iranian journalists at the country’s Arak heavy water nuclear reactor. Such reactors produce plutonium that can be used in nuclear weapons. Iran, under the nuclear deal, had reconfigured the facility to address Western concerns on that issue. However, Kamalvandi said the country could rebuild the facility to make it produce plutonium. He made a point to give an interview to Iranian state television, standing next to the open pit where the reactor would be in the facility. As the camera panned down to what would be the reactor’s core, Kamalvandi stressed that piping could be replaced and the reactor could be built to make plutonium. Hard-liners opposed to the nuclear deal had constantly accused the agency of filling the entire pit with concrete. “They had previously photoshopped a picture of this place having been filled up with concrete,” Kamalvandi said. He added: “The message that we tried to get across to Europeans today was that not much time is left for them.” AP
Climate talks held as Arctic ice melts, concerns grow
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ERLIN—Diplomats and climate experts gathered on Monday in Germany for UNhosted talks on climate change amid growing public pressure for governments to act faster against global warming. Officials meeting in the western city of Bonn for the June 17 to 27 talks are focusing on resolving issues that couldn’t be agreed upon at last December’s climate summit in Poland. This includes the rules governing the international trade in carbon certificates, which allow countries or companies to offset greenhouse-gas emissions by paying for projects in poor nations. The talks are taking place against a backdrop of mounting concerns about global warming that have been heightened by extreme weather events and other signs that man-made climate change may already be leaving its mark on the planet. Over the weekend, a picture taken by Danish climate researchers showing sled dogs on the ice in northwest Greenland with their paws in melted ice water was widely shared on social media. Greenland’s ice melting season normally runs from June to August but the Danish Meteorological Institute said this year’s melting started on
In this photo taken on June 13, 2019, sled dogs make their way in northwest Greenland with their paws in melted ice water. Diplomats and climate experts gathered on Monday in Germany for UN-hosted talks on climate change amid growing public pressure for governments to act faster against global warming. Danmarks Meteorologiske Institut/Steffen M. Olsen via AP
April 30, the second-earliest time on record going back to 1980. Students in Europe and beyond have staged regular street protests demanding leaders do more to meet the 2015 Paris accord’s goal of keeping average temperature increases below 2 degrees Celsius (3.6 Fahrenheit)—ideally 1.5 degrees °C (2.7
degrees °F)—by the end of the century, compared preindustrial times. While experts discuss technical issues in Bonn, European Union leaders will be debating the 28-nation’s long-term strategy on climate change on Thursday in Brussels. German Chancellor A ngela Merkel has indicated that she
backs proposals to stop adding further greenhouse-gas emissions to the atmosphere by 2050—a move that will require ending almost all fossil fuel use by then. Britain, Germany and France are expected to pass national legislation this year enshrining this “net zero” target in law. AP
Wednesday, June 19, 2019
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Trump threatens to deport millions beginning next week
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ASHINGTON —President Donald J. Trump is threatening to remove millions of people living in the country illegally on the eve of formally announcing his reelection bid. In a pair of tweets on Monday night, Trump said that US Immigration and Customs Enforcement would next week “begin the process of removing the millions of illegal aliens who have illicitly found their way into the United States.” “They will be removed as fast as they come in,” he wrote. An administration official said the effort would focus on more than 1 million people who have been issued final deportation orders by federal judges but remain at large in the country. The official spoke on condition of anonymity to explain the president’s tweets. It is unusual for law-enforcement agencies to announce raids before they take place. Some in Trump’s administration believe that decisive shows of force—like mass arrests— can serve as effective deterrents,
sending a message to those considering making the journey to the US that it’s not worth coming. Trump has threatened a series of increasingly drastic actions as he has tried to stem the flow of Central American migrants crossing the southern border, which has risen dramatically on his watch. He recently dropped a threat to slap tariffs on Mexico after the country agreed to dispatch its national guard and step-up coordination and enforcement efforts. A senior Mexican official said on Monday that, three weeks ago, about 4,200 migrants were arriving at the US border daily. Now that number has dropped to about 2,600. Immigration was a central theme of Trump’s 2016 campaign and he is expected to hammer it as he tries to fire up his base heading into the 2020 campaign. Trump will formally launch his reelection bid on Tuesday night at a rally in Orlando, Florida—a state that is crucial to his path back to the White House. AP
China’s Xi to visit N. Korea as US nuke diplomacy stalls
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EIJING— Chinese President Xi Jinping will make a state visit to North Korea this week, state media announced on Monday, as US talks with North Korea on its nuclear program are at an apparent standstill. Xi will meet with North Korean leader Kim Jong Un during the visit on Thursday and Friday, Chinese state broadcaster CCTV said. It said the trip will be the first by a Chinese president in 14 years. North Korea’s official Korean Central News Agency also announced the visit, but provided no further details. The visit coincides with the 70th anniversary of the establishment of diplomatic relations between China and North Korea, CCTV said. The broadcaster added the leaders will exchange views on the situation on the Korean Peninsula. The visit comes as negotiations between the US and North Korea appear to have reached an impasse. A summit in Vietnam in February between Kim and President Donald J. Trump failed after the US rejected North Korea’s request for extensive relief from UN sanctions in exchange for dismantling its main nuclear complex, a partial disarmament step. Since the summit’s breakdown, no major contacts between the US and North Korea have been announced. Kim traveled to the Russian Far East in April for a meeting with Russian President Vladimir
Putin. The move was viewed as aimed at strengthening his leverage over Washington and persuading Moscow to loosen its implementation of the international sanctions against North Korea. Last month, North Korea fired short-range missiles and other weapons into the sea in an apparent effort to apply pressure on the US. KCNA reported in April that Kim said he will give the US “till the end of the year” to reach out with further proposals. Since taking office in 2012, Xi has met with Kim four times in China. The meetings were timed in proximity to Kim’s meetings with Trump and South Korean President Moon Jae-in, highlighting Beijing’s role as a key player in the nuclear standoff. Beijing has long advocated a “dual suspension” approach in which North Korea would halt its nuclear and missile activities while the US and South Korea cease large-scale joint military exercises. Chinese political scholar Zhang Lifan said the aim of Xi’s trip is likely not to make any breakthroughs, but rather to remind other countries of China’s unique position. AP
B4 Wednesday, June 19, 2019
PPA SECURITY UNDERGOES SAFETY TRAINING MERALCO KEEPS HIGH GOVERNANCE SCORECARD, 4-ARROW AWARD
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Satestamenttowardgoodcorporate governance and responsible management practices, Manila Electric Co. (Meralco) was awarded a four-arrow recognition at the Asean Corporate Governance Scorecard (ACGS) recognition ceremony of 2019. The award was presented at the Institute of Corporate Directors’ (ICD) ACGS Golden Arrow
recognition ceremony held on June 11 at the Conrad Manila. The night was a celebration of the achievements of publicly listed companies (PLCs) and insurance firms in embracing and promoting a culture of good corporate governance. Emilio B. Aquino, chairman of the Securities and Exchange Commission, graced the
celebration as the keynote speaker. The Golden Arrow recognition is given to top-performing PLCs as reflected in their ACGS score from ICD’s 2018 domestic assessment. PLCs that achieve a score of 80 points or higher are considered as top performing in the Philippines, under the ACGS. The number of arrows in the award indicate the level of the company’s compliance with the Asean corporategovernance principles. Five arrows represent the highest level of corporategovernance performance. Meralco was among the top 6 companies in the Philippines awarded with a 4-Arrow recognition. No PLC in the Philippines was able to get a 5-Arrow award this year, but ICD Chief Executive Officer Dr. Alfredo E. Pascual congratulated the top-performing PLCs and encouraged them to continue in developing excellent corporategovernance programs and practices for the benefit of the investors, other stakeholders and the country. Senior Vice President, chief legal counsel, chief data protection officer, compliance officer, and head of legal and corporate governance office lawyer William S. Pamintuan accepted the award for the company. The award was later presented to company President and Chief Executive Officer lawyer Ray C. Espinosa.
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ONTINUING to protect and ensure the safety of employees, and port users and facilities, the Philippine Ports Authority (PPA), in partnership with the United States Naval Criminal Investigative Service (NCIS), held a training seminar on lawenforcement techniques for port police officers from June 3 to 7 at the PPA head office. The five-day seminar, which was attended by port police officers coming from the PPA head office and port-management offices, is designed to equip responding officers with necessary techniques in dealing with various law-enforcement situations. Seminar topics include observation and assessment field interviews, apprehension, unarmed
individual self-defense skills, crime-scene preservation of evidence, vehicle stops and high-risk vehicle stops, introduction to improvised explosive devices, vehicle inspections, tactical movement, rapid response and baton techniques. “We, at the PPA, are committed to fulfill our responsibilities of establishing effective portsecurity plans and programs,” general manager Jay Daniel R. Santiago said. “Port security and public safety are of utmost importance—that is why we want to make sure that our personnel are equipped with trainings and seminars that will provide them useful techniques in implementing security and law enforcement in our ports.”
BPI FOUNDATION TO REFOREST 100 HECTARES OF DENUDED WATERSHED IN BANGSAMORO
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N pursuit of inclusive development in provinces, BPI Foundation, in partnership with Hineleban Foundation, has committed to rehabilitate 100 hectares of denuded watershed in the Bangsamoro region of Amai Manabilang, Lanao del Sur, and provide livelihood to 20 families in Barangay Pagunayan. Maricris San Diego, BPI Foundation executive director, said that this is part of the foundation’s Mindanao rainforestation and transformational business project. “We see this partnership will significantly help restore the ecosystem and consequently bring more rain to increase agricultural production. This initiative will provide food security in the area and sustainable, disposable income for 20 families in the identified project site,” San Diego said. The project brings back the flora and fauna in the mountain range in Amai Manabilang, which is inhabited by settlers of different origins and other smaller ethnic groups. The main source of livelihood in the area is farming, mainly crop production. The municipality is one of the largest corn producers in the province. The major crops planted in the area include sugarcane, corn, soba and buckwheat. With this partnership, the foundation seeks to engage local communities to become custodians of the site by providing them sustainable livelihood opportunities and becoming their partners in ensuring the conservation of the reforested area.
Major components of the project include social preparation, family food-security cycle, sustainable disposable-income component, rainforestation, values and leadership transformation program, and community development planning. The project began with social preparation and engagement with local leaders, as well as an orientation and assessment of the community members. a family food-security cycle, or 3,500 square meters of shared farming land for the community’s consumption, was also established. Technical support and marketing efforts for the products of Hineleban Foundation were also strengthened. This year’s rainforestation will follow a natural succession process that will eventually lead to the planting of indigenous dipterocarp, oak and select commercial species. Throughout the project’s implementation, meeting the needs of the community, as well as instilling stewardship of different project components, remain essential. “It has always been our commitment to work with communities and experts in developing solutions to create a more sustainable environment for the benefit of generations to come,” San Diego said. Established in 1978 as the social development arm of the Bank of the Philippine Islands, BPI Foundation works toward improving the social and economic well-being of the Filipino people through education, entrepreneurship and environmental sustainability.
LEAGUE OF CORPORATE FOUNDATIONS CALLS FOR MULTISTAKEHOLDER COLLABORATION
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F the recent report of the National Economic and Development Authority (Neda) is any indication, those poor regions in the Philippines seem to be getting poorer, with inequality in income becoming all the more apparent. In fact, according to data from the Philippine Statistics Authority, the inequality in GRDP per capita, or the average income of people in a region, has widened from 2009 to 2018, which prompted Neda to push for more reforms. For the League of Corporate Foundations (LCF), collaboration is key. LCF is a network of 93 of the largest operating and grant-making corporate foundations and corporations in the Philippines. “Over the years we, at LCF, have grown our network and resources to help uplift the lives of more Filipinos; and make significant progress. But there’s still a lot of work to do. And we believe that continuing to work together and sustaining support of the private sectors to the nation building, we will make lasting change,” LCF chairman Mario Deriquito said. With this, LCF is set to highlight in this year’s CSR Expo the need for collaboration among business, government, civil society, the academe and public as a means to achieve collective impact. Aptly themed “Toward Collective Impact: Collaborations that Work!”, the two-day 2019 CSR Expo— scheduled from July 4 to 5 at the Jose Rizal Hall of the Philippine International Convention Center (PICC) in Pasay City—aims to connect people to more opportunities to work together and sustain efforts in light of calls for inclusive development and collective impact in addressing Philippines’s pressing social issues, particularly poverty. “We aim to share insights and best practices, to inspire more people by bringing them together for a common purpose and to empower them by providing a platform for collaboration,” LCF vice chairman Cecile
Alcantara added. The LCF-CSR Expo brings together the Philippine business community and other sectors to discuss the trends, models and practices in CSR, and promote a common framework for action in support of sustainable national development. This year’s CSR Expo includes global speakers YW Junardy, expert team member of United Nations Global Compact and president of Indonesia Global Compact Network; and Liz Weaver, co-CEO of Tamarack Learning Centre in Canada. Joining them are Secretary Ernesto Pernia; Gen. Benjamin Madrigal, Armed Forces of the Philippines (AFP) chief of staff; Ms. Chuchi Fonacier, Bangko Sentral ng Pilipinas deputy governor; Marichu Tellano, National Commission on Culture and the Arts; and Mary Jane Ortega, Institute for Solidarity in Asia. Since 2001 the LCF has annually held the LCF-CSR Expo. It includes a conference and exhibition as its main attractions: The conference being a platform for CSR practitioners to discuss new ideas and trends, address issues and challenges, provide new knowledge and skills, and showcase CSR success stories. The LCF-CSR Expo presents an excellent opportunity to network with a highly targeted delegate base. In the previous years about 500 delegates coming from diverse sectors attend the LCF-CSR Expo, from the private sector, business community, civil society, the government and the academe. It is held every first week of July, following former president Joseph Estrada’s Presidential Proclamation 299, celebrating the first week of July as CSR Week, and LCF shall lead the annual celebration. The conference is open to all companies and individuals interested in the practice of strategic CSR, for a fee that is inclusive of all meals and conference materials. For interested participants, please visit http://lcf.org.
Sports BusinessMirror
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| Wednesday, June 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
UNCERTAINTY
TORONTO Raptors’ Kawhi Leonard holds his Most Valuable Player trophy while celebrating with rapper/producer Drake during the team’s National Basketball Association championship parade in Toronto on Monday. AP
By Ian Harrison
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The Associated Press
ORONTO—Fresh off leading the Toronto Raptors to their first National Basketball Association (NBA) title, Kawhi Leonard received the key to the city at Monday’s championship parade. For now, however, the two-way star and two-time NBA Finals Most Valuable Player still isn’t saying whether he’ll use it to keep a door open, or close it behind him and move on. Leonard spent several days partying with his teammates in Las Vegas and Los Angeles after last Thursday’s Game Six clincher, returning to Toronto in time to ride in one of five open-top double decker buses that carried the Raptors along a crowded parade route. A three-time All-Star and two-time NBA defensive player of the year, Leonard is expected to decline the player option on the final year of his contract and become a free agent. Toronto can offer him a five-year deal worth around $190 million, one year and some
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EW ORLEANS—Now that six-time All-Star Anthony Davis’s trade request has been honored, it’s time for the New Orleans Pelicans to start a new era by drafting the next face of the franchise. Duke star Zion Williamson is widely seen as the top pro prospect to enter any National Basketball Association draft since Davis in 2012, and the Pelicans—thanks to an unlikely NBA draft lottery victory last month—have the right to select him first overall on Thursday night. While new Pelicans Executive Vice President of Basketball Operations David Griffin and Coach Alvin Gentry have declined to announce their draft intentions, Gentry chuckled when describing the pressure to get the decision right as “Really very little. Minimal, OK? I think we’ll make the right decision.” The ability to make that first pick this year “gives a boost to our franchise right away,” Gentry said. “We’re going to end up with a really good basketball player.” The Pelicans even posted a compilation of Williamson’s Duke highlights on their official web site. The 6-foot-7, 285-pound Williamson was just the second freshman to be a consensus national player of the year, along with Kevin Durant with Texas in 2007. While Williamson has yet to exhibit consistent outside shooting, he has displayed a dominant mix of power, quickness and skill that has convinced scouts of his extraordinary promise as a pro. He averaged 22.6 points per game at Duke and also was voted to the Atlantic Coast Conference’s All-Defensive Team after averaging
$50 million more than any other team. Before stepping on stage on Monday for a ceremony in the square outside Toronto’s City Hall, Leonard said he hasn’t been thinking about his future. Instead, he’s trying to extend the celebratory vibe as long as possible. “I’m enjoying this” he said. “It’s not time to stress, it’s still time to have some fun. I’ve just been enjoying my experience.” After precisely two months of playoff basketball, Leonard doesn’t have a lot of time left to be a fun guy—free agency gets under way at 6 p.m. on June 30. “I’m going to take the right time,” he said.
“You don’t need too many days to figure it out. We’ll see what happens. Once that time comes, then we’ll all lay the pros and cons out.” Visibly bothered by soreness during stretches of the Eastern Conference Finals against Milwaukee, Leonard declined to say how much pain he endured en route to winning his second career title. “We’re always battling through things,” he said. “You know, knee pains, ankles, fingers. Everybody was just grinding it out.” Injured for all but nine games in his final season with San Antonio, Leonard played 60 regular-season games for Toronto and another
24 in the postseason, upping his minutes once April arrived. While winning a trophy was an obvious success, Leonard said he’s enjoyed all aspects of his season north of the border, even the varied Canadian weather. “It was a good experience, experiencing Mother Nature, all four seasons,” he said. “Man, it was a great experience. Everybody off the court was great. The fans, just meeting people in Canada. It’s been fun.” Fans chanted “Stay! Stay! Stay!” when Toronto Mayor John Tory presented Leonard with the key.
Zion, top-5 prospect on Pelicans’ radar
IN this January 5, 2019, file photo, Duke’s Zion Williamson dunks in the second half of a National Collegiate Athletic Association college basketball game against Clemson in Durham, North Carolina. AP
Later, the festive mood of the event was marred by gunfire. Four people were shot, leading to a stampede. Three people were arrested and two guns were recovered, Toronto police said. Leonard is one of three Raptors starters with uncertain futures. Center Marc Gasol also has a player option, while guard Danny Green is a free agent. Guards Kyle Lowry and Fred VanVleet, and forward Serge Ibaka, are heading into the final year of their deals. Ibaka and Leonard have become friends in their time together as teammates. “I’ve been talking with him a lot during
the season and in the playoffs, but after we won, I can see the man is happy,” Ibaka said. “That’s the most important. We play this sport because we want to enjoy and have fun and be happy and be somewhere people love you. I’m sure he feels that people here love him, and after this moment, that’s the most important.” Lowry attended the parade wearing a game-worn Damon Stoudamire pinstripe Raptors jersey. Stoudamire was the first player drafted by Toronto in 1995, and won rookie of the year honors in 1996. Lowry and Stoudamire were teammates in Memphis from 2006 to 2008.
8.9 rebounds, 2.12 steals and 1.8 blocked shots per game. He leaves Duke as the holder of several freshman records, including single-game scoring after his 35-point outburst against Syracuse in January. And this draft could have enormous, long-term implications for New Orleans even beyond the addition of Williamson because of the bounty of first-round draft choices the Pelicans are to receive from the Los Angeles Lakers as part of the Davis deal. The trade—which also sent a total of three first-round picks to the Pelicans—won’t become official until after the new NBA league year begins on July 6. But when the Lakers pick fourth overall, they will effectively select for the Pelicans and eventually will send that player to New Orleans—unless that pick is moved in a subsequent trade on behalf of the Pelicans by draft night. And while deciding whether to select Williamson isn’t bound to cause any mental anguish or second guesses, deciding who to pick fourth overall could be a much tougher call. Gentry noted that while most drafts have just a few elite prospects, there often are future stars mined from mid- to late-first-round picks—never mind a second top-5 choice like New Orleans has acquired. “There is the high end, front end of the draft, but there’s going to be a guy that’s drafted 14 to 25 that’s going to be a game changer also,” Gentry said. “It’s happened almost every year and that’s where Steve Nash and Kobe Bryant and Giannis [Antetokounmpo] and those guys were
all drafted—in that area right there. So, somewhere along the line, there’s going to be some surprise guys that’ll step up that’s going to become really good basketball players.” A handful of prospects stand out as possible fourth overall picks, and the position they play could be a factor. The Davis trade brought New Orleans highly regarded small forward Brandon Ingram, point guard Lonzo Ball and shooting guard Josh Hart. Ball and Ingram would be presumed starters alongside veteran guard Jrue Holiday and Williamson at power forward. The only true center on the roster is Jahlil Okafor. Forward Julius Randle also can play center, but is essentially a free agent with a player option to return for next season. Christian Wood, a 6-10 forward who thrived in his short, late-season stint with the Pelicans, also could play center. Texas’s Jaxson Hayes (6-11, 220) is widely seen as the top center in the draft, but not necessarily a top-5 talent, so free agency might be the more practical route for the Pelicans to pursue an upgrade there. Three players widely projected among picks Nos. 4-6 are Vanderbilt point guard Darius Garland (6-2, 175), Texas Tech shooting guard Jarrett Culver (6-7, 194), and Virginia wing player De’Andre Hunter (6-7, 225). While none of them would be expected to start immediately, each could emerge as an increasingly prominent player in the rotation as the season wears on. And the ability to bring a reliable scorer, playmaker or defender off the bench could make all the difference if the Pelicans find themselves making a playoff push next March. AP
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Business
C2 Wednesday, June 19, 2019 By Ramon Rafael Bonilla
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ICKY VARGAS resigned as president of the Philippine Olympic Committee (POC) on Tuesday, stunning the sports community, especially his critics who are now tasked to guarantee a strong—if not overwhelming—performance by Team Philippines in the 30th Southeast Asian Games that the country is hosting in less than five months. Vargas submitted his irrevocable resignation just minutes into the POC Executive Board Meeting that was expected to happen at the POC Offices at the PhilSports Complex in Pasig City. “This is to inform the Executive Board of the Philippine Olympic Committee that I am tendering my irrevocable resignation from the post of president of the organization effective immediately,” Vargas said in his letter. “After much introspection, I have determined that there would be other sports leaders who would have the time and inclination needed to lead the POC more effectively.” Vargas, head of the boxing association, was elected
VARGAS RESIGNS AS P.O.C. CHIEF VARGAS
president and Rep. Abraham Tolentino as chairman in a POC special election last February, ending Jose Cojuangco’s reign
that started in 2004. Based on POC by laws, First Vice President Jose Romasanta takes over as president. Vargas, however, will remain in the powerful Executive Board as the immediate past president. Vargas said he will support Philippine sports “as an official of the MVP Sports Foundation and president of Abap [Association of Boxing Alliances in the Philippines].” “I have requested SecretaryGeneral Patrick Gregorio to assist the incoming president in the smooth transition of leadership until he, the new president, shall have appointed his own secretarygeneral,” Vargas added in his letter. The board meeting was supposed to tackle pertinent issues on the SEA Games preparation
and hosting with his critics in the POC raising issues bordering on his role in the Philippine SEA Games Organizing Committee. The issues, however, were seen as offshoot of his rise to the presidency and the toppling of the Cojuangco bloc in the POC. Vargas left the meeting after submitting his resignation, catching his critics in the board flat-footed. Efforts to topple Vargas from the presidency were mounted by his critics, who clinched to their posts in the executive board by not tendering their courtesy resignations. The boxing chief, a corporate brass in the Manuel V. Pangilinan Group, kept the board intact hoping for a united and cooperative POC. He never got what he envisioned.
GILAS Pilipinas Under-19 center AJ Edu (left) is accompanied by Team Manager Andrew Teh on Tuesday’s Philippine Sportswriters Association Forum at Amelie Hotel-Manila. NONIE REYES
Despite tall ceiling, youth team needs cohesion, says manager
Stanley goes to Gin Kings; Mercado, Ferrer, Cruz to Batang Pier
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TANLEY PRINGLE found a new home in Barangay Ginebra after he was shipped from NorthPort in a four-player trade on Tuesday. The Batang Pier sent away guard Sol Mercado, and forwards Kevin Ferrer and Jervy Cruz for the prolific scorer in a move that will reunite Ferrer and Cruz with their
University of Santo Tomas coach, Pido Jarencio. The deal was also a win for the defending champion Gin Kings with the arrival of the athletic and high-scoring Pringle. He is set to join the stacked lineup composed of LA Tenorio, Scottie Thompson, Japeth Aguilar and Greg Slaughter.
Pringle has only played two games in the ongoing Philippine Basketball Association Commissioner’s Cup following his surgery that removed bone spurs from his right ankle. Before going under the knife, the 5-foot-11 guard had amassed 19.5 points, 6.5 rebounds, 4.7 assists and 2.6 steals
toward the end of the previous Philippine Cup. Upon his return, he averaged 14.5 points, 2.5 rebounds and two assists in two matches. Meanwhile, the veteran Mercado tallied 5.6 points, 3.2 rebounds and 3.4 assists for the Gin Kings in five games.
Ramon Rafael Bonilla
MANNY PACQUIAO starts his US training camp with a session at the Griffith Park in Los Angeles. PHOTO BY WENDELL ALINEA/MP PROMOTIONS
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HILE touted as the tallest Philippine Youth squad ever assembled, people behind the Gilas Pilipinas Under-19 team was quick to temper expectations about its coming campaign in the Fiba U19 World Cup in Heraklion, Greece. Team Manager Andrew Teh did stress that height will be among the team’s major edge heading to the June 29 to July 7 meet as it parades a slew of tall players led by 7-foot-2 Kai Sotto, a pair of 6-foot-10 in AJ Edu and Shaun Geoffrey Chiu, and 6-foot-8 Carl Tamayo. But as Teh reasoned out, sometimes basketball is not all about height. “Dito sa Pilipinas, height yung kulang sa atin lagi. But this time, we really have some height. But again, it’s not only height that can win you games. It’s the team play,” Teh said in the Philippine Sportswriters Association Forum on Tuesday at the Amelie Hotel-Manila. “So it’s not just about the height, although with height you have a good advantage [against the other]. We just have to use that as a tool for us to become a better team. Chemistry, according to Edu, is also one of the factors the young Philippine team is banking on, the main core of this group having played together as a unit during last year’s Fiba U18 Asian Championship in Nonthaburi, Thailand. The Filipinos, then handled by Josh Reyes, placed fourth in the Asian meet to qualify to the
World Cup. Reyes has since been replaced by Sandy Arespacochaga. “I’m really liking the chemistry. Obviously I thought after a year we’ve improved, all of us,” said Edu, who was with Teh in the forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp. “I feel like skills-wise, we’ve improved. And I feel like the chemistry is already there from last year, so we can only get better [from last year],” added the Cypriot-born Filipino, who just finished his freshman year at the University of Toledo in the US National Collegiate Athletics Association. The Youth squad will see action in two tune-up games against University of the East and Far Eastern University before leaving for Doha, Qatar, on Friday where it will set up training camp and play two exhibition matches against pro club Al-Riyadi. Rome-based point guard Dalph Panopio is going straight to Qatar to join the team as he failed to arrive in the country earlier due to conflict in his academic schedule. Other than Edu, Sotto, Panopio, Tamayo, and Chiu, other members of the 14-man squad are Gerry Abadiano, Bismarck Lina, Rhayyan Amsali, Joshua Ramirez, Migs Oczon, Dave Ildefonso, Terrence Fortea, Xyrus Torres and James Spencer. The team leaves Qatar on the 27th on its way to Greece.
Creamline stakes 5-game run, faces fired up Motolite
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PSC lends hand to NSAs ahead of SEAG hosting
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EAM Philippines reinforced their commitment to bring the delegation straight to the top of the 30th Southeast Asian Games with their continuous cooperation with Chef de Mission (CdM) and Philippine Sports Commission (PSC) Chairman William Ramirez’s initiatives for the delegation. Eleven sports associations were consulted on Tuesday as Ramirez’s secretariat continue to establish the status of the different sports’ preparation for the biennial meet. The meeting is first of a series of in-depth consultations headed by a PSC commissioner per cluster. The cluster was presided by Commissioner Ramon Fernandez. The other clusters are scheduled to meet the whole day of Thursday. “We have to cover a lot of ground and we are heartened by the cooperation of everyone,” said Ramirez, referring to lively and honest exchange of ideas among the national sports association representatives. National sports associations
(NSAs) of boxing, pencak silat, wrestling, skateboarding, sambo, muay thai, wushu, judo, karatedo and arnis were all represented. Only three groups were unable to join the session. “Just be open and let us know what you need” was Fernandez’s advise to the group when they started the meeting, following Ramirez’s pronouncements that the agency will support their requirements as much as the PSC can. A general consensus was the importance that foreign training plays in the overall success of their teams. PSC Commissioners have thrown their support behind their chairman as soon as he accepted the CdM position in May. With the Philippine Olympic Committee still unable to name Ramirez’s deputy CdM, PSC Commissioners Arnold Agustin, Celia Kiram, Charles Maxey and Fernandez have stepped up their engagements with NSAs under their cluster to expedite the CdM’s work for Team Philippines.
N a five-game run, Creamline still gears up for a tough outing against a surging Motolite side in pursuit of the second semifinal berth when the Premier Volleyball League Reinforced Conference returns to the Filoil Flying V Centre in San Juan on Wednesday. The Cool Smashers turned back the Power Builders in their first round elims meeting on June 8, shrugging off a shaky first-set to hack out a 13-25, 25-19, 25-16, 25-23 victory, one of the five they posted since dropping a straight-set setback to first semifinalists and unbeaten PetroGazz Angels in the May 26 opener. But the defending champions will be hard-pressed to duplicate their win over the undermanned Power Builders in a bid to join the Angels in post-season play of the season-opening conference of the league organized by Sports Vision. For one, Motolite is coming off backto-back romps after losing all its first four games. Though they remained at fifth in the six-team field, the Power Builders are tipped to crowd the PacificTown Army Lady Troopers (3-3) and the BanKo-Perlas Spikers (2-5) for the last two seats in the Final Four with six playdates left in the double-round elims. Game time is 5 p.m. with Motolite, still without injured top local ace Myla Pablo, hoping to ride the momentum of its victory over PacificTown Army in Imus, Cavite, on Sunday in the second of the back-to-back weekend out-oftown games in the league sponsored by Mikasa, Asics and KFC. But the Cool Smashers are, likewise, coming into the match oozing with confidence following their 3-0 romp over the skidding Perlas Spikers in Iloilo City on Saturday. The Lady Troopers, on the other hand, try to shore up their campaign as they take on the winless BaliPure Water Defenders in the 3 p.m. opener of the explosive twinbill.
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sMirror
Wednesday, June 19, 2019
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MEIJERS RULES 10TH LTDF
WITH the majestic Mayon Volcano serving as a backdrop, German rider Mario Vogt of Team Sapura (orange jersey) topped the 138.1-kilometer Stage 5. Yet, it was Dutch Jeroen Meijers of Taiyuan Miogee Cycling that claimed the individual overall title at the conclusion of the 10th Le Tour de Filipinas on Tuesday. STEPHANIE TUMAMPOS
Pagunsan rides on momentum as Negros Occ Classic unfurls
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EGAZPI CITY—Dutch Jeroen Meijers of Taiyuan Miogee Cycling Team of China successfully defended his lead in the fifth and final stage topped by German Mario Vogt of Team Sapura Cycling of Malaysia to snare his first title in three years in the 10th Le Tour de Filipinas that concluded on Tuesday in this beautiful Bicol City fronting the majestic Mayon Volcano here. Meijers, 26, was with Singaporean Goh Choon Huat of Terrenganu Inc., TSG Cycling of Malaysia in the peloton that clocked three hours, 34 minutes and 48 seconds to secure the victory with a total clocking of 20:38:07. Goh finished second overall in 20:38:52, while Aussie Angus Lyons of Oliver’s Real Food Racing of Australia in 20:39:45. 7-Eleven Cliqq-Air21 by Roadbike Philippines’s Daniel Habtemichael (20:40:20), PGN Road Cycling Team’s Sandy Nur Hassan (20:40:32) and Aiman Cahyadi (20:40:39), Team Ukyo’s Kohei Yokotsuka (20:40:39) and Naoya Yoshioka (20:40:41), and Team Sapura Cycling’s Muhsin Al Redha Misbah (20:40:42) and Taiyuan Miogee’s Li Shuai (20:40:43) rounded up the top 10. “I felt good entering Stage 5, we had a good feeling about it and I know you need to celebrate at the finish line, not before because anything can happen,” said Meijers, whose last major victory came in France three years back. Vogt topped the 138.1-kilometer Stage 5 in 3:33:39 and bested Filipino Dominic Perez of 7-Eleven and Malaysian Mohd Zamri Saleh of Terengganu Inc. TSG Cycing Team of Malaysia, who each timed in 3:34:41. It was the third podium finish for the 27-yearold Stuttgart native after he also ruled Stage 2 on Saturday and placed third in Stage 4 on Monday. Vogt eventually finished 12th overall. Team Ukyo
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clinched the team crown in 61:59:35 and the $1,200 (P62,400) purse. Taiyuan Miogee wound up second (62:02:36) and PGN Road Cycling Team (62:03:05) third in this five-stage race sponsored by Air21, Cargohaus, NMM, Ufreight and SPL, and backed by the Philippine National Police, Armed Forces of the Philippines and Disaster Risk Reduction Management Office with Onesports by Cignal as official coveror. Filipino Marcelo Felipe of 7-Eleven CliqqAir21 by Roadbike Philippines slipped from 10th to 11th in 20:43:43 after losing to Li via
countback. Li had a better finish than Marcelo in Stage 4, paving the way for the former to steal No. 10. Felipe, however, went home as the best Filipino rider, besting Mark Galedo of Celeste Cycles Bianchi Philippines, who won this same race five years ago, and Go for Gold’s Jonel Carcueva, who finished 15th and 16th overall, respectively. Meijers’s ascent started in Stage 1 on Friday when bested all comers to win the lap. Meijers lost the Air21 purple jersey for a time in Stage 2 when Goh orchestrated the breakaway group only for the latter to get it back at the end of
Avena seeks repeat at PHL Srs golf A BE AVENA hopes to start out strong and avoid going through another thriller as he shoots for back-to-back title feat in the Philippine Seniors and Mid-Amateur Open Championship which starts today (Wednesday) at Moint Malarayat Golf and Country Club in Lipa City, Batangas. Avena bucked tough condition and battled back from three shots down with four holes left in
regulation then the club bet nipped Rolly Viray in a playoff to snare last year’s title in the centerpiece Seniors Open for 55 years old and above). But Viray, a former national amateur champion from Canlubang, is raring to get back at Avena together with last year’s third placer Damascus Wong and some of the top players in the ranks, including Tommy
Manotoc, Mari Hechanova, Alan Alegre, Dave Hernandez, Raul Montealto and Rene Unson. Abe Rosal, the 2017 champion also from Cangolf, is also back in the hunt after skipping last year’s edition of the event organized and conducted by the National Golf Association of the Philippines and backed by the MVP Sports Foundation, Cignal and Metro
it. And then it was all Meijers from there. Le Tour Chairman Donna May Lina later said she’s looking forward to next year’s 11th edition. “It was a fitting end to Le Tour’s 10th year anniversary and we’re excited for another one next year,” Lina said.
Pacific, and held under the PLDT Group National Amateur Tour. Also on tap is the Mid-Amateur Open division (25-years-old-and-above) headed by Brixton Aw, Gerald Katigbak, Edcel Opulencia, Reggie Torres and Oliver Gan, while other titles are also set to be disputed in the Mid Am Division I (25-54 years with HDCP Index of 8.0-15.0), Mid Am Division II (HDCP Index of 15.1-24.0), Senior Division I (55-59), Senior Division II (60-65) and Super Senior (66-and-above).
UVIC PAGUNSAN hopes to buck the expected early charge of the souped-up field, the pressure of completing a second straight victory and a successful title-retention drive as action in the ICTSI Negros Occidental Classic fires off on Wednesday the Negros Occidental Golf and Country Club. But coming off an emphatic win at nearby Murcia and playing on a course he calls home, Pagunsan has all the motivation he needs in pursuit of another crown on the Philippine Golf Tour (PGT) and a back-to-back title feat against an international field teeming with talents. The Japan Professional Golfers’ Association Tour-based shotmaker outwitted reigning PGT Order of Merit champion but absentee Jobim Carlos on the second playoff hole to reign here last year and the region’s former No. 1 marked his return to the local circuit this season with a seven-stroke romp over Rufino Bayron in the ICTSI Bacolod Golf Classic last weekend. That makes him the top favorite in the P3-million event sponsored by ICTSI with the smooth-swinging shotmaker also expected to cash in on his local knowledge of the par-70 Marapara layout that features twisting fairways and a tough backside littered with water hazards and deceptive holes. Still, the rest of the 106-player field, including 37 foreign aces, remain hopeful of foiling the hometown hero in the 72-hole championship serving as the third of the PAGUNSAN
four-stage Visayan swing of the circuit organized by Pilipinas Golf Tournaments Inc. Thais Kammalas Namuangruk and Tawan Phongphun, among the top placers in the recent PGT and PGT Asia Q-School for foreign players, are tipped to contend in the early going along with Aussie Fidel Concepcion, the best-placed foreigner at fifth in last week’s Bacolod, Spain’s Marcos Pastor, and Club Filipino de Cebu Invitational wire-to-wire winner Guido van der Valk of the Netherlands. Former PGT Asia leg champion David Gleeson, also from Down Under, is also among those seen to have the skills and talent to spoil Pagunsan’s repeat bid along with fellow invitees Colombia’s Mateo Gomez and Sebastian Lopez, Englishman George Twyman, Aussies Jack Sullivan and Swede Sebastian Hansson. A slew of local aces are also raring to slug it out for top honors worth a whopping P550,000, including former champions Frankie Miñoza (2016), Tony Lascuña (2014) and Zanieboy Gialon (2012). Clyde Mondilla, who came out of a six-week layoff due to injury and tied for 10th in Murcia, is also expected to have settled down with his game and will be among those seen to be in the early mix along with Jay Bayron, Richard Sinfuego, Ira Alido, Jhonnel Ababa, Michael Bibat and Jerson Balasabas. Others expected to contend in the event backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and M.Y. Shokai Technology Inc. are Elmer Salvador, Mhark Fernando, Nilo Salahog, Keanu Jahns, James Ryan Lam, Johvanie Abaño, Marvin Dumandan, Reymon Jaraula and another local hero and veteran Robert Pactolerin.
Sports BusinessMirror
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| Wednesday, June 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
EASY WIN! By Joseph Wilson
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The Associated Press
ONTPELLIER, France—Germany is playing like a title contender, just at the right time. After seeing her team start the Women’s World Cup with a pair of onegoal wins, Germany Coach Martina Voss-Tecklenburg told her players to keep the game simple. Germany played to its status as the world’s secondranked side and one of the top challengers hoping to dethrone the US, routing South Africa 4-0 on Monday to top Group B with a 3-0 record. The Germans will play a third-place team in the round of 16 instead of the possibility of an immediate matchup with the Americans. After Germany grinded out 1-0 wins over China and Spain, its offense broke out with three goals in the first half at Montpellier’s Stade de la Mosson, matching its total in its previous five World Cup games combined. “I told my players that we should keep it simple,” Voss-Tecklenburg said. “The players performed very well. They showed that football can really be very simple sometimes.... There were moments within the match when we tried to go for the more difficult solution. That’s something we can work on.” Displaying a varied attack, Germany generated a constant stream of scoring opportunities and could have easily won by a bigger margin. Melanie Leupolz opened the scoring in the 14th minute with her first goal for Germany since the 2016
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ÃO PAULO—Chile’s experienced Copa America team proved too good for Japan’s young squad. The two-time defending champions opened their Copa America campaign with a 4-0 win over the Asian guests on Monday, with Eduardo Vargas scoring a pair of goals to become Chile’s all-time leading scorer in the South American competition. Erick Pulgar and Alexis Sanchez also scored for the titleholders, which are trying to become the first nation to win three straight Copa titles since Argentina in the late 1940s. Vargas scored twice in the second half to reach 12 goals with Chile in the tournament, two more than Enrique Hormazabal. The victory moved Chile to the top of Group C along with Uruguay, which opened with a 4-0 win over Ecuador on Sunday. “Chile has players who are very experienced, who know each other very well,” Chile Coach Reinaldo Rueda said. “The challenge today was to avoid a bad debut. We were humble and entered with our feet on the ground. We were playing against a team that was very competitive in all sectors.” Japan, playing as a Copa America guest for the second time, brought to Brazil a young squad focused on the Olympic tournament at home next year. The Japanese youngsters struggled against the veteran Chilean squad which was in control from the start at the Morumbi Stadium. Chile won the last two editions of the Copa
Olympics. Sara Däbritz doubled the lead in the 29th minute from a goal-keeping blunder, Alexandra Popp made it 3-0 in the 40th and Lina Magull added the final goal in the 58th. “I think we are ready for the round of 16,” Däbritz said. “Our goal was to come in first, and we are really happy about that.” South Africa was winless in group play and outscored 8-1. At 49th, South Africa had the lowest ranking of the 24 teams in the tournament. Spain finished Group B as runner-up after a 0-0 draw with China and advanced to the knockout stage for the first time. Spain will face the winner of Group F on Monday at Reims, and the US would be the opponent with a victory or draw in its final group match against Sweden. Two-time tournament champion Germany has not lost a match in group play since falling to Sweden in 1995. “Germany has won tournaments that it started out with difficulties,” Voss-Tecklenburg said. “It would be great to have the same this time. All the matches will be challenges, and I hope we will be able to meet them all.” Germany didn’t miss the playmaking of Dzsenifer Mar ozsan, who broke a toe in its opener. Voss-Tecklenburg said she couldn’t guarantee the Lyon midfielder will be ready for the round of 16. Leupolz put Germany ahead when she was left all alone on the edge of the 6-yard box to deftly nod a corner kick into the far corner of the net.
Däbritz made it 2-0 after a mistake by goalkeeper Andile Dlamini, who turned what appeared to be a poor German pass into a perfect assist. Left back Verena Schweers’s cross looked like an easy grab for Dlamini, only for Dlamini to parry the ball right into the path of Däbritz, who got her second goal of the tournament. “We conceded poorly from a set piece and a second goal, as well, and were on our back foot from there,” South Africa Coach Desiree Ellis said. Germany boosted the lead to 3-0 with pure power. Popp, the team captain, jumped over her marker to drive home a header. Magull got the fourth goal when she rushed in to finish off a save by Dlamini, who did well to push a header by Marina Hegering off the post, only to see the ball bounce across the open goalmouth. Only Dlamini’s sharp reflexes saved South Africa from a greater defeat. “We always knew it would be a challenge,” Ellis said. “We are happy with the performance but not the result.”
FRANCE TOPS GROUP PLAY
FRANCE completed World Cup group play with a 3-0 record for the first time, beating Nigeria 1-0 on Monday night at Rennes when Wendie Renard converted a penalty kick in the 79th minute after missing her first attempt but getting a second chance. France will play a third-place team on Sunday at Le Havre in the round of 16, and the winner will advance to
Chile too strong for Japan America, beating Argentina in penalty shootouts in the final both in 2015 and 2016. Argentina is the only team to have won three consecutive South American titles, from 1945-47. Boosted by most of the 23,253 fans at the Morumbi, Chile created most of the significant chances. After Pulgar headed in a corner-kick cross by Charles Aranguiz in the 41st minute, Vargas added to the lead with a shot from outside the area in the 54th after a pass by Mauricio Isla. Sanchez found the net with a header in the 82nd, and Vargas closed the scoring about a minute later with a long lob shot over goalkeeper Keisuke Osako as he charged from his net. It was a good opening match for Sanchez after a difficult season with Manchester United. “I was coming off a difficult month-and-a-half,” said the 30-year-old Sanchez, who injured his ankle late in the season. “I struggled in the first 45 minutes, I felt tired, but I improved in the second half.” Rueda, debuting with Chile in an official tournament, has been gradually revamping the squad since he took over in 2018. Among the veterans back from the team’s recent triumphs were Vargas, Sanchez and Arturo Vidal, who also had a good opener.
Japan last played in the Copa America in 1999, when it was eliminated in the group stage. Among the youngsters in Brazil was Takefusa Kubo, the 18-year-old who has joined Real Madrid’s “B’’ team for next season. He played from the start and was a threat for Japan in attack. He got an ovation from the crowd at the Morumbi after getting past a defender with a ball through his legs about 10 minutes into the match. He nearly scored after a nifty move past a defender inside the area in the 65th, but his shot hit the outside of the net. Japan had a few good chances to get on the board toward the end of the game but couldn’t capitalize on them. Qatar, host of the 2022 World Cup, is the other guest nation in this year’s tournament. It drew 2-2 with Paraguay in its Group B opener on Sunday. AP
CHILE’S Alexis Sanchez celebrates scoring his side’s third goal with Mauricio Isla during a Copa America Group C soccer match against Japan at the Morumbi Stadium in São Paulo, Brazil, on Monday. AP
SOUTH Africa goalkeeper Andile Dlamini (second from left) clears the ball against Germany’s Linda Dallmann (right) during the Women’s World Cup Group B soccer match between South Africa and Germany at the Stade de la Mosson in Montpellier, France, on Monday. AP
a quarterfinal against the US, Sweden or Spain. Referee Melissa Borjas of Honduras awarded the penalty kick when Viviane Asseyi was knocked over by Ngozi Ebere, a call upheld in a video review and one that drew vehement protests from the Super Falcons. Ebere was given her second yellow card of the match for the foul, causing Nigeria to finish a player short. Renard’s initial attempt was wide to the right of goalkeeper Chiamaka Nnadozie, but Borjas ordered the kick retaken because Nnadozie came off the line before the ball was kicked. Renard’s second try went in to Nnadozie’s right for her third goal of the tournament. A crowd of 28,267 watched host nation Les Bleues outshoot Nigeria 22-2 and hold 69-percent possession. France advance to the knockout stage for the third straight World Cup. Nigeria finished third in Group A with three points and a minus-two goal difference, and the Super Falcons will have to wait to find out whether they can advance as one of the four top third-place teams. Nigeria has played in every Women’s World Cup but advanced past the group stage just once, reaching the quarterfinals in 1999.
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God of majesty
EAR God, on this day we celebrate the holy and joy-filled encounter You inspired between Mary and Elizabeth. Enliven us by that same spirit as we pray: Holy God, hear our prayer. Help us believe in Your promise of salvation and to proclaim the greatness of Your name. Raise to freedom those who experience oppression or unjust treatment. Give support and joy to pregnant women and mothers of young children. May the Holy Spirit enlighten us to recognize Christ’s hidden presence so that we may rejoice with Mary in God’s saving power all our days. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com
Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com
WEEKS after Facebook refused to remove a doctored video of House Speaker Nancy Pelosi slurring her words, Facebook CEO Mark Zuckerberg (in photo) is getting a taste of his own medicine: fake footage showing him gloating over his one-man domination of the world. AP
Life BusinessMirror
BRITNEY SPEARS’S EX-MANAGER HIT WITH 5-YEAR RESTRAINING ORDER D3
Wednesday, June 19, 2019
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Google announces Oklahoma expansion, computer science grant PRYOR, Oklahoma—Google has announced a $600-million expansion project at a data center in Pryor, Oklahoma, and a $6-million grant for computer science education for students in 4-H chapters in rural areas of 20 states. The announcement was made on Thursday outside the data center. The expansion project is expected to add about 100 jobs to the more than 400 now employed at the center that opened in 2011. National 4-H Council President Jennifer Sirangelo said the grant through Google.org will focus on computer science training for an estimated 1 million children in rural areas that have limited access to computer science education. Google CEO Sundar Pichai said the grant will be used to teach coding and leadership skills to students. AP
Facebook’s Zuckerberg is the focus of latest doctored video N
EW YORK—Three weeks after Facebook refused to remove a video of House Speaker Nancy Pelosi that had been doctored to make her appear to be slurring her words, Mark Zuckerberg is getting a taste of his own medicine: fake footage showing him gloating over his one-man domination of the world. It’s the latest flap over deviously altered “deepfake” videos as Facebook and other social-media services struggle to stop the spread of misinformation and “fake news” while also respecting free speech and fending off allegations of censorship. The somewhat crude video of the Facebook CEO, created as part of an art project and circulated on Facebook-owned Instagram over the past few days, combines news footage of Zuckerberg with phony audio. “Imagine this for a second, one man with total control over billions of people’s stolen data, all their secrets, their lives, their futures,” Zuckerberg seemingly intones in a voice that does not sound very much like Zuckerberg’s. “I owe it all to Spectre. Spectre showed me that whoever controls the data controls the future.” According to the video’s creators, “Spectre” is a reference to Aleksandr Kogan, who developed the app that let Cambridge Analytica collect personal data of
millions of Facebook users. Kogan’s married name is Spectre. The video was created by artists Bill Posters and Daniel Howe with help from artificial-intelligence companies and displayed over the past week or so at an art show in Britain on the influence of technology. Posters also put the footage on Instagram and Vimeo. Posters said he targeted Zuckerberg as “one person governing control of 2 billion people’s personal private data. He’s at the center of the debate that asks questions whether that is a safe place for our data to be.” When the Pelosi video turned up on Facebook, the social network said it did not violate any of its policies. Pelosi criticized Facebook at the time for leaving the video up. Zuckerberg tried to reach out to her to explain the situation, but she did not take his call, according to a person familiar with the matter who was not authorized to discuss it and spoke on condition of anonymity. Facebook and Pelosi’s office declined to comment on Wednesday. Facebook said the Zuckerberg video likewise doesn’t violate its Instagram policies and will be left up. “We will treat this content the same way we treat all misinformation on Instagram,” the company said in a statement. Facebook does not prohibit false information from being shared on Instagram or its main Facebook
service. If third-party fact checkers flag an item on the main service as false, the company “downranks” it to make it more difficult to find. Facebook has been testing a way to extend that approach to Instagram. The Associated Press is working with Facebook as part of an ongoing effort to fact-check misinformation that is shared widely online. The Zuckerberg video uses a form of artificial intelligence in which a computer is fed image and audio files of a person to learn how to mimic his or her facial expressions. An actor supplies the voice, and the computer then syncs up the image with the sound. Last year, in another case of altered footage, the White House tweeted what an expert determined was a speeded-up video of CNN reporter Jim Acosta that made him look more aggressive than he actually was when an intern tried to take his microphone away as he was asking President Donald J. Trump a question. Wedbush Securities analyst Dan Ives said that even though the Zuckerberg video is an art piece and not actual disinformation meant to deceive, it highlights the challenges of policing content on Facebook and Instagram. “It just shows that it is still an uphill battle for the company as they try to rectify these issues that continue to plague the platform,” he said. AP
Twitter deletes accounts linked to foreign governments SAN FRANCISCO—Twitter says it has deleted nearly 4,800 suspect accounts linked to Iran that the company says secretly pushed that government’s agenda. Twitter is adding those accounts and their tweets to a public database it launched last year to track its battle against government-linked misinformation. It is also adding a smaller number of deleted accounts linked to Russia, Venezuela and the Catalonia region of Spain. Twitter says the removals are meant to prevent election interference while preserving valid political speech. The company confirmed last month it had removed about 2,800 of the Iranian accounts that were using fake personas. Twitter launched the database in October. Anyone can download the datasets, which has some information redacted. Researchers can request access to get the unredacted documents. AP
Over 30 retailers, Huawei offer ‘special’ warranty to guarantee Google Apps compatibility TO assure consumers made wary by hostile actions taken by the US government against Huawei, the Philippine partner retailers and dealers of the networking and mobile phone giant will offer a “special warranty program” for upcoming purchases of any current Huawei phone. All devices covered by this special warranty will have no issue concerning usage of Google apps and services such as the Google Play Store, Gmail, Google Maps, Photos, Chrome and YouTube, as well as non-Google ones such as Facebook, Instagram and WhatsApp. This special warranty is offered exclusively by participating dealers to provide a worry-free experience for consumers with their new Huawei device. Plenty of retail partners, such as MemoXpress, Rulls, and around 30 more support the special warranty program, reassuring consumers that all Huawei devices purchased from them are fully equipped with Google services ready to go. Mark Anthony Lacsamana, when asked if his
Huawei Mate 20 Pro was worth his money, agreed wholeheartedly, saying, “Kasi, lahat ng mga gusto ko sa phone nandiyan na. Like, ’yung camera, malinaw siya kahit malayo. And then, ’yung tibay niya—ilang bagsak na ’yung phone ko pero super tibay pa rin and walang gasgas at all.” Ryan Lu took his Huawei Nova 3i in for Service Day, and he’s proud of his device choice, saying, “Very stylish, unique and affordable. Tapos very powerful ’yung Kirin processor...and what I like the most is, I can personalize and customize.” Regarding recent issues, Ryan is unfazed: “I don’t mind. Atsaka di na ako nangingialam doon sa issues, as long as maganda ang phone.” Pauline Delicano is another proud and satisfied Nova 3i owner, and having tried other brands before, she switched to Huawei the moment she had the chance. “Now, it’s one of the most competitive brands. I think it [the issues] doesn’t really matter as long as we will get the services that we have always been
RYAN LU, Huawei Nova 3i user
getting. I don’t think it wouldn’t affect us that much as long as the current users won’t be experiencing any problems,” says Pauline. Mariel Tanggol, a Huawei concept store supervisor and a firm supporter of the brand, mentioned how thrilled her sales team was after hearing about the warranty program. “Before the warranty program, nakita ko naman sa mga sales promoters ’yung eagerness nila to help out consumers with their questions. Pero after lumabas ’yung warranty, nakita ko rin, as a supervisor, kung paano bumalik ’yung confidence and sigla nila sa pag-demo ng units and pag-explain sa customer tungkol sa issue,” Mariel says. “We are one with Huawei in pushing for quality service, including after-sales initiatives that will surely put Filipino consumers first,” says Edward Tan, vice president for operations at MemoXpress. “We express our support and full trust with Huawei through this special warranty program to prove that Huawei devices are safe to purchase.”
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Wednesday, June 19, 2019
Pet Corner BusinessMirror
Rowan University gifted $3M to start therapy dog program
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Today’s Horoscope By Eugenia Last
CELEBRITIES BORN ON THIS DAY: Macklemore, 36; Zoe Saldana, 41; Jean Dujardin, 47; Paula Abdul, 57. HAPPY BIRTHDAY: Put greater emphasis on health and well-being this year. Prioritizing physical fitness, proper diet and updating your look will help you prepare for an opportunity that is heading your way. You have plenty to look forward to as long as you don’t let someone else run your life. Don’t be afraid to dismiss anyone who tries to interfere in your plans. Your lucky numbers are 5, 12, 21, 29, 35, 38, 43.
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ARIES (March 21-April 19): When faced with an obstacle, don’t let anger and frustration take over. Consider your options, and make adjustments that encourage positive change. Keep in mind you are in charge of your life. HH
By Rita Giordano The Associated Press
EWELL, New Jersey—When college stress gets too intense, nothing beats a furry friend to lean on. Soon the students at Rowan University will have canine comfort whenever they need it. South Jersey businessman and animal lover Gerald Shreiber, president and CEO of J&J Snack Foods Corp. of Pennsauken, has committed $3 million to create an animal therapy program on the Gloucester County campus. Shreiber’s gift, announced this week, will establish an endowment for a self-sustaining program that will make certified therapy dogs regular fixtures in several student-support efforts at the Glassborobased university. “It is a pleasure for me to give back to the community,” Shreiber said. “I can think of nothing better than [the experience of] our young students striving for education, complemented by therapy dogs.” Starting in September, the Shreiber Family Pet Therapy Program of Rowan University will have a permanent 744-square-foot home at the school’s Wellness Center, according to David Rubenstein, the school’s vice president for health and wellness. Five certified therapy dogs will be at the center five days a week to support students in need, assist in mental-health efforts, participate in special events, and help in programs that aid students with autism spectrum disorder, veterans and other populations. The program will have a full-time coordinator. “A dog therapy program will enhance the general health and well-being of Rowan students and address emerging experiences of stress, loneliness, depression and anxiety,” Rubenstein said. Studies have shown that spending time with animals, as in dog therapy programs, can lower blood pressure, lessen depression and anxiety, decrease feelings of isolation and encourage communication. Some research has suggested it prompts the release of oxytocin, leading to increased feelings of well-being. Petting animals has also being shown to produce feelings of relaxation. In recent years, Rowan has offered “Paws for a
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TAURUS (April 20-May 20): If you don’t like something, make an adjustment and continue. Putting your energy where it counts will pay off and bring you the recognition you deserve for a job well done. HHHHH
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GEMINI (May 21-June 20): Redo something you aren’t happy with. If you take a hands-on approach and make physical alterations that fit your agenda, you’ll be able to take advantage of an opportunity to share something special with someone you love. HHH
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CANCER (June 21-July 22): Make innovative choices that will have an impact on the way others treat you. Stand out in the crowd, and make suggestions that will counter interference or negativity that you face along the way. Trust your instincts. HHH
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LEO (July 23-Aug. 22): You’ll stumble across something appealing if you take part in events that offer insight into cutting-edge technology or techniques that you can put to good use. An opportunity to connect with someone in a critical position looks promising. HHH
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VIRGO (Aug. 23-Sept. 22): Confusion will set in if you let someone manipulate you. Concentrate on what’s doable and the people who can help you get things moving in the right direction. Embrace change, leave the past behind you and enjoy the rewards you deserve. HHHHH
Break,” a once-a-month program with therapy dogs. It’s proved to be a highly popular initiative, said Rubenstein. “This gift will ensure our continued ability to deliver resources to enhance the health and well-being of our students and the entire Rowan community,” said Rowan President Ali A. Houshmand. Shreiber, born in Bridgeton, New Jersey, and raised in Atlantic City, bought a bankrupt pretzel company in 1971 and turned it into J&J Snack Foods. The company now has more than 4,000 employees
and over $1 billion in annual sales with brands, such as Superpretzel, Icee, Luigi’s and Minute Maid. A philanthropist, he created a Rowan scholarship fund for students majoring in entrepreneurship. He also started Shreiber Animal Foundation Enterprise, which helped establish a pet therapy program at Children’s Hospital of Philadelphia and contributed to a pet therapy program at Virtua. Shreiber lives on a 112-acre South Jersey farm with four rescue dogs, as well as horses, donkeys and goats. n
Scientists take a peek behind those sad puppy dog eyes NEW YORK—What’s behind those hard-to-resist puppy dog eyes? New research suggests that over thousands of years of dog domestication, people preferred pups that could pull off that appealing, sad look. And that encouraged the development of the facial muscle that creates it. Today, pooches use the muscle to raise their eyebrows and make the babylike expression. That muscle is virtually absent in their ancestors, the wolves. “You don’t typically see such muscle differences in species that are that closely related,” said Anne Burrows of Duquesne University in Pittsburgh, an author of the study released on Monday by the Proceedings of the National Academy of Sciences Dogs differ from wolves in many ways, from having shorter snouts, smaller sizes and more expressive faces. And unlike wolves, dogs heavily rely on human eye contact, whether to know when someone’s talking to them or when they can’t solve a problem, like hopping a fence or getting
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out the door. Burrows and her colleagues examined the eye muscles in the cadavers of six dogs and two wolves. They found dogs have a meaty eye muscle to lift their eyebrows and make puppy dog eyes. But in wolves, the same muscle was stringy or missing. The scientists also recorded 27 dogs and nine wolves as each stared at a person. Pet pooches frequently and intensely pulled back their eyebrows to make sad expressions, while the wolves rarely made these faces, and never with great intensity. The researchers believe dogs, over their relatively short 33,000 years of domestication, used this eye muscle to communicate, possibly goading people to feed or care for them—or at least take them out to play. And people, perhaps unwittingly, obliged. Dog experts not involved with the study were impressed. “The implications are quite profound,” said Brian Hare from Duke University and who edited the article. Hare wrote in an e-mail that these muscles almost certainly developed
because they gave dogs an advantage when interacting with people, and people have been unaware of it. “The proof has been in their puppy dog eyes all this time!” he said. Evan MacLean at the University of Arizona called the findings fascinating, but cautioned that the muscle difference could be an indirect effect of other changes rather than a specific response to human influence. Clive Wynne of the Canine Science Collaboratory at Arizona State University said: “Kudos to the researchers for thinking of a cool way to investigate an important aspect of dogs’ success” with humans. But he noted in an e-mail that the study has a few snags, particularly the small sampling—only five dog breeds were examined and videos were mainly of Staffordshire bull terriers—and the lack of background information about each animal. “Did these wolves regularly meet people bearing gifts that might be worth asking for with an endearing face?” he asked. Burrows said she planned follow-up studies to examine more breeds. AP
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LIBRA (Sept. 23-Oct. 22): Look beyond your own backyard. Don’t let negativity bring you down or let people who lack vision stand in your way. Venture into the future with optimism, and search for those who offer support. Personal perfection is highlighted. HH
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SCORPIO (Oct. 23-Nov. 21): Take a different path if the one you’ve been traveling down isn’t paying off. Change begins with you and putting your goals first. Surround yourself with people who are qualified and show interest in what you are doing. HHHH
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SAGITTARIUS (Nov. 22-Dec. 21): Evaluate your relationship with the people who have the most influence on your life and the choices you make. Weed out those who tempt you, and recognize those looking out for your best interest. Romance is in the stars. HHH
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CAPRICORN (Dec. 22-Jan. 19): Do whatever it takes to bring about favorable changes at home and to the relationships that are important to you. Speak up, share your thoughts and listen to the suggestions made. A joint effort will lead to a bright future. HHH
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AQUARIUS (Jan. 20-Feb. 18): Breathe deep, and consider your options. Strive for personal improvement and heading in a direction that optimizes your skills, experience and knowledge. Refuse to let anyone manipulate you emotionally. HHH
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PISCES (Feb. 19-March 20): Recognize what needs to be done. Call upon the people you know will help build momentum, not cockamamie ideas. Take the role of a leader, stand tall and don’t stop until you reach your goal. HHHH BIRTHDAY BABY: You are unusual, creative and proactive. You are demonstrative and intuitive.
‘think inside the box’ BY WREN SCHULTZ The Universal Crossword/Edited by David Steinberg
ACROSS 1 THINK 9 THINK 13 Smitten 14 Musician’s liability 16 Toasted bread antipasti 17 Pass, as time 18 Cassis cocktail 19 Was really bad 21 Arson-investigating org. 22 Share a view 25 Bouncers check them, briefly 26 Shrinking sea 27 Get cozy 29 Unsolved crime 31 Aetna competitor 33 Spooky story? 34 Ethiopia neighbor: Abbr. 37 ___-witted 38 H.S. diploma alternative 40 Gobble up 41 Sam, for one 43 “That makes sense!” 46 Start of an automated message
sequence 8 Fashion’s Giorgio 4 52 Await judgment 53 Sticky ___ (breakfast pastry) 54 Judged, with “up” 55 Mo. when many buy candy 56 Perplexing problem 58 Amazed feeling 59 Evening party 61 Place to pull off 65 Programmer’s frustrations 66 Dreamer 67 THINK 68 THINK DOWN 1 THINK 2 Still green, say 3 New Zealand natives 4 GChats, e.g. 5 “Sorry ___ sorry!” 6 Jackie’s “O” 7 Ones column neighbor 8 Word after “first” or “limited” 9 Moo juice
0 A, to Alejandra 1 11 Split apart 12 South Korea’s region 14 On edge 15 THINK 20 Newspaper insert, often 23 ___ power 24 Escapes capture by 26 Part of a musical 28 Longtime Brit. record label 30 Lowest points 32 90-93, grade-wise 34 THINK 35 Officially noted 36 Country legend Reba 39 H, in sorority names 42 “The Electric Kool-Aid Acid Test” drug 44 Not brand-name 45 Texter’s “Enough already!” 47 They’re found among the reeds 49 The Simpsons voice actor Hank 50 Most up-to-date 51 THINK
6 Wavy hairstyle, informally 5 57 Freshen the look of 60 Eggs on sushi 62 Part of a line: Abbr. 63 Mai ___ 64 Key near the space bar
Solution to yesterday’s puzzle:
Show BusinessMirror
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Britney Spears’s ex-manager hit with 5-year restraining order L
By Andrew Dalton The Associated Press
OS ANGELES—A judge on Thursday issued a five-year restraining order forbidding Britney Spears’s former manager from contacting the singer or her family, or making disparaging statements about them online. Los Angeles Superior Court Judge Brenda Penny reached the decision after hearing testimony from the ex-manager, 44-year-old Sam Lutfi, and from Spears’s father, James Spears, who has controlled his daughter’s money and affairs via a court-ordered conservatorship for 11 years. Penny rejected arguments from Lutfi’s attorney, Marc Gans, that the order is an unconstitutional restraint on his client’s free speech, calling Lutfi’s testimony evasive and extending the temporary restraining order she first issued on May 8. Gans said outside court that they are considering an appeal. James Spears declined comment. James Spears conceded under questioning from Gans that he does not have the most peaceful relationship with Britney Spears. “Me and my daughter’s relationship has always been strained,” James Spears said. But in further testimony that Penny said she found forthright and credible, James Spears testified that Lutfi, who was close to Britney Spears in 2007 and 2008 and served briefly as her manager, has been a “predator” on his family for more than a decade whose harassment has recently resumed. “I worried that he was trying to take down the conservatorship,” Spears said from the stand. “I was very angry. I was worried that we were right back in 2008.” Spears and his lawyers suggested, and Penny appeared to agree, that Lutfi has attempted to incite fans who have used the social-media hashtag #FreeBritney to criticize the control James Spears and the court have had over the pop star for the past 11 years. Lutfi’s Twitter account, the subject of much of the testimony, consists almost entirely of posts critical of Spears’s circumstances and those surrounding her. But Gans argued that none of the statements were made directly to individuals or could be considered harassment. He also emphasized that Lutfi has made no direct contact with Britney Spears herself, and suggested that her father and his lawyers were not speaking for her and had provided no evidence that she had in any way been harmed by Lutfi’s statements. Britney Spears was not present in court, and she has made very few public comments on the conservatorship. In testimony that Penny struck from the record, Lutfi said that Britney Spears had reached out to him at various times through the years to complain about her father’s control over her. “She wanted help to get out of this situation,” Lutfi said. The judge also shut down most of Gans’s
BLIND SPOT BRUCE C.
IN A SLUMP
THEY’RE a power couple but these days, the actor seems to be bored with everything, including his career. Meanwhile, his girlfriend is still very enthusiastic and is actually eyeing a role in a big production in the near future. The guy, meanwhile, is showing a lackluster performance in the very few gigs he has. It’s sad that he seems bored even with their relationship even if he does seem to love his girlfriend. He seems to need a challenge and let’s just hope he gets over this slump.
EXCESSIVE PDA
THE actor and his new love are a beautiful couple and everyone is happy for them. However, certain things, such as their excessive displays of affection, make others uncomfortable. It’s not that they’re kissing and hugging each other in public—most people have no problem with that. The issue is that the girl, who’s also a public figure, sometimes goes overboard with her affections. She sits on his lap while eating in restaurants, and at a public event she kissed him while grinding her pelvis at his. This is not slutshaming; people are merely asking the girl to respect the personal space of others. To be fair to the actor, he seems embarrassed at what his girl is doing.
SHE LOVES POWER
SO the former beauty queen who is now an actress is dating a powerful politician. What else is new? He isn’t the first politician she has dated and she’s very much single and so is her new boyfriend. The thing is that she has a reputation for being a girl who relies on her boyfriends financially. Whether this is true is debatable. With her first showbiz boyfriend, it was truly a love match. People just aren’t sure about her motivation for being in her other relationships. Well, she is hardworking and she has her own money plus she isn’t hurting anyone, so maybe it’s best to leave her alone.
BRITNEY SPEARS at the 29th annual GLAAD Media Awards in Beverly Hills, California, in 2018. AP
IMITATION IS NOT THE BEST FORM OF FLATTERY
questions toward James Spears. The questions asked him to discuss his daughter’s mental state and tried to establish that disparaging online statements Lutfi had made about James Spears’s use of alcohol and his enriching himself through the conservatorship were true and constitutionally protected. Lutfi admitted that he had contacted Britney Spears’s mother, Lynne Spears, and the singer’s brother-in-law James Watson via texts and phone calls, and sent Lynne Spears money that was subsequently returned. Lutfi testified that he sent the money “just like numerous other fans did” because Lynne Spears had “liked” Instagram posts that suggested she was in need of money and that she should be in charge of her daughter’s affairs instead of her ex-husband James Spears. “I had a great relationship with Lynne Spears,” Lutfi said of his time with Britney Spears. Lutfi and Gans said that neither Lynne Spears nor
Thais arrest Italian convicted in George Clooney fraud case
Watson had told him to stop communicating with them or told him he was harassing them. Gans also argued that tweets from his client, including one that simply said “Raise hell,” were far too vague to be considered harassment of the Spears family. Penny disagreed, citing that tweet in her decision as illegal incitement. The proceedings were a resumption of a hearing that began on May 28 and had been closed to the media and the rest of the public. But Penny, who also oversees Spears’s conservatorship case, kept the courtroom open on Thursday. The Spears family has frequently fought Lutfi in court, starting with a restraining order they received against him in 2009. “He’s been asked repeatedly to stay away from this family,” Chad Hummel, an attorney for the conservatorship, said in closing arguments. “He can’t help himself.” n
Taylor Swift’s new video features Ellen, RuPaul and more NEW YORK—Taylor Swift’s new music video features a number of famous faces, including Ellen DeGeneres, Laverne Cox, RuPaul and the cast of Queer Eye. The clip for her song “You Need to Calm Down,” in which Swift calls out homophobes and her own haters, was released on Monday. Ryan Reynolds, Billy Porter, Todrick Hall, Hayley Kiyoko, Jesse Tyler Ferguson and Adam Rippon also make appearances in the colorful video. The clip closes with Swift and Katy Perry—dressed as french fries and a hamburger—hugging. The two mended their friendship last year after publicly feuding. The video finishes with the words: “Let’s
Wednesday, June 19, 2019
show our pride by demanding that, on a national level, our laws truly treat all of our citizens equally.” The singer made a surprise performance at the iconic Stonewall Inn gay bar in New York City a day after releasing the song, which is the second single from Swift’s seventh album Lover that will be released on August 23. Earlier this month Swift announced that she supported the Equality Act. AP IN this June 1 photo, Taylor Swift performs at Wango Tango at Dignity Health Sports Park in Carson, California. Swift’s new music video features a number of famous faces, including Ellen DeGeneres, Laverne Cox, RuPaul and the cast of Queer Eye. AP
BEFORE the actress came out with her own beauty line, she contacted Philippine representatives of international brands and asked for PR samples of some of their products. There’s nothing wrong with this actually. This is something many celebrities do. What’s wrong is that she took these products and she and her business partners copied them. The products range from lipsticks and lip tints to powder foundations. One of the actress’s business partners is notorious for being a copycat and many believe that it was she who urged the actress to do what she did.
BANGKOK—Thai police said they have arrested an Italian man wanted in his home country after he fled a jail sentence handed down for fraudulently using the name of actor George Clooney to lure people into investing in a bogus clothing company. Thailand’s Crime Suppression Division said in a statement that Francesco Galdeli, 58, was arrested on Saturday near the city of Pattaya on suspicion of staying in the country illegally. Also arrested was Vanja Goffi, 45, on suspicion of overstaying her visa. Interpol notice had been issued for Galdeli and he was arrested at an address provided by Italian authorities, Thai authorities said in their statement on Sunday. It was not immediately clear if the two had a lawyer. Galdeli was sentenced by a Milan court in 2010 to more than eight years in jail after he was found guilty of impersonating Clooney to trick investors, police said. Galdeli had lived in Thailand for around seven years, police said AP
Call for entries: The Asian International Children’s Film Festival 2019 CALLING all student filmmakers. The Japan Information and Culture Center (JICC) of the Embassy of Japan in the Philippines, in cooperation with the National Youth Commission (NYC), is now accepting entries for the Asian International Children’s Film Festival 2019. All Filipino high-school students grades 10 to 12, except those who have already been to Japan as part of previous Asian International Children’s
Film Festivals, are encouraged to join and submit their own three-minute videos under the theme “How do you think about causing others trouble? Is it okay if only you are good? Can you think about other people?” The deadline for submission of entries is on August 16. The Asian International Children’s Film Festival was launched as a platform for creative interaction and cultural exchange among young filmmakers
from Japan, East Asia and Southeast Asia by allowing them to share their thoughts on certain universal topics through short films. The Philippines took home the grand prize for last year’s film festival with the entry I Did It. The finalists who submitted the top 3 entries from the Philippines will fly to Japan on December 2 for the activities related to the international leg of the competition.
All expenses for the trip will be borne by the Government of Japan through the JENESYS2019 Programme, which aims to strengthen international relations among the youths of Japan, East Asia, and Southeast Asia by facilitating various cultural and academic exchanges. To join the competition, download the official forms and guidelines from the Embassy of Japan web site (bit.ly/2KlUesc).
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Handling difficult conversations SUI GENERIS CARLO ATIENZA
biblisko@gmail.com
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US-BASED legacy teacher Tarn Taran Kaur Khalsa will be the lead trainer of the Kundalini Yoga Level One Teacher Training in the Philippines in November 2019.
Kundalini Yoga teacher training program offers early-bird rate DISCOVER how Kundalini Yoga can awaken your true potential. Join the Kundalini Research Institute (KRI) Level One Teacher Training Program in the Philippines. It consists of three one-week sessions starting on November 5 to 11, February 11 to 17, 2020, and ending on May 20 to 26, 2020, with early registrants being able to save at least $500. Inquiries can be made via 09188889198. The curriculum combines interactive theory with practical yogic and deep meditation knowledge for life. You will not only develop the skills to instruct students in Kundalini Yoga but also learn more about your self, your potential and your grace. The training is transformative. Emotionally, you may release old garbage such as anger and fear. Physically, you will detoxify your body with yoga, vegetarian food and clean nature living. And spiritually, you will form lasting bonds of friendship with people who are committed to growth, motivated by love and want to make a difference in their own lives. In addition to required classroom hours, you will receive independent study assignments: readings, 40-day yoga and meditation assignments, Kundalini Yoga class participation, yoga practicum teaching and service projects. Upon completing all requirements of the KRI Level One program, you earn the title of KRI Certified Instructor of Kundalini Yoga as taught by Yogi Bhajan and fulfill the Yoga Alliance RYT (Registered Yoga Teacher) 200-hour requirement. US-based Tarn Taran Kaur Khalsa will be the Lead Trainer for this Level One in the Philippines. Taran Kaur was taught directly by Yogi Bhajan and she has trained Kundalini Yoga teachers internationally for over 40 years.
S a people manager, you will have conversations with your direct reports where you will have to discuss concerns that might be very uncomfortable for both of you. These could be performance appraisals, work reviews, or when you have to call them out for not following department standards or company policies. These conversations are necessary if you want to maintain the quality of work you expect from each of your direct reports. I had one of these in the early part of the year where I had to talk to a team member about the quality of her work. She was in a supervisory role and she was supposed to be auditing and monitoring the work of other team members, but she had difficulties meeting the standard in her own work. This posed a problem because other members looked to her for guidance. She had been transferred from another department but retained her position, so she was onboarded and I had to talk to her about expectations in terms of what she was supposed to do but she kept on missing the mark. I had to sit down with her and have one of those difficult conversations. The first thing I did was to schedule a meeting with her and set an agenda. It would not have been beneficial to do an ambush meeting if we were going to have this kind of talk. By telling her the schedule and agenda, she was also able to prepare for the meeting. Of course, it was highly likely she already knew the reason for the meeting, so providing a schedule and agenda gave her time to prepare for it. This also signaled to her that I wanted to be fair because I was giving her the time to prepare and to explain herself. For such occasions, take the time to prepare before the meeting. Try to list down foreseeable reactions and questions so you can prepare for them. This will also help you control the situation if ever it escalates, and you can manage your thoughts and emotions and be in a better position to help the person rather than reacting carelessly to whatever they might say or do during the meeting. Another thing I did was to acknowledge my emotional state. For sure, I was anxious about how she would react to what I needed to tell her. It is never easy to receive criticism, and I also realized having those kinds of conversations were difficult for me. One piece of advice which helped me came from my director, who told me to stop thinking of the conversation as difficult. She advised me to look at it from another perspective and think of it as a way to help the other person. This will frame the entire conversation into looking for ways to help the person understand expectations and deliver as needed. Because if the person doesn’t, it will become more difficult later on not only for him or her but also for the whole team. During the meeting, be direct and be very specific. Even if you do not set an agenda, my direct report already has an idea why I wanted to talk to her. I started out with the pleasantries, asking her how she
was and how work was coming along but all I did was prolong her agony. I realized I could not beat around the bush and I had to get straight to the point. And so I did. I told her that given the team’s projects and deliverables, I needed her to perform as expected. And I told her anecdotes and instances when she failed to perform what was expected of her. I was very specific with those instances because she needed to understand the impact it had on the team. It was easier for her to see where I was coming from and accept what I was saying. It was also easier for me to listen to her side of the story. In this kind of conversation, you have to give the opportunity for the other person to explain their side of the story so you can understand better how you can help them. She told me of her difficulties in transitioning to the role, and her insecurities with what was expected of her. It was then I realized she did not really want the role. It was then that she cried. I asked her why she was crying, and she told me she was doing her best but it was just not working out. I had to be gracious. Be compassionate when they admit something this difficult, or when they admit they have committed something wrong. This is an opportunity for you to help the person and come up with actionable steps to address their opportunities for improvement and avoid committing the same mistake again. I asked her what she thought she needed to do to meet what was required of her role. It was then when we negotiated on what she needed and how we could both find out if she had met them. I also had to set deadlines on when she needed to meet them and when we should meet again to assess her progress. This kind of shared accountability helped her understand that I was making her my responsibility and I was invested in helping her.
Having these kinds of conversations are common when dealing with people. But it does not have to be difficult. The key to these conversations is preparation and the mindset that you are helping the person, and, consequently, the whole team. Having these conversations will help you encourage accountability not only to you but to the entire team. n
The key to having difficult conversations regarding work is preparation and the mindset that you are helping the person, and, consequently, the whole team. Having these conversations will help you encourage accountability not only to you but to the entire team.
Filipinos are aging prematurely By PaUline Joy M. GUtieRReZ AROUND 60 percent of the Filipino work force is aging prematurely, according to nutrition milk brand Anlene by New Zealand-based international exporter Fonterra Cooperative Group. At a recent press event, the company cited that a number of studies link poor diet as one of the most common factors that contribute to extrinsic aging, including chronic sun exposure and other environmental factors, particularly smoking. “Half of Filipinos aged 19 to 60 are not getting enough protein, while more than 90 percent don’t get enough calcium, which can lead to bone, muscle and joint deterioration and weakness,” said Fely Velandria, registered nutritionist dietician and former Food and Nutrition Research Institute-Department of Science and Technology senior science research specialist. Human aging is characterized by a state of chronic, low-grade sterile inflammation. Certain foods, like trans fats, are known to trigger systematic inflammation that may result to age-related diseases and premature aging. Premature aging also causes exhaustion that can affect an individual’s energy and productivity levels: “[It] is not only about looking older, it also means you get easily tired, and you’re generally weaker compared to people your age who are not aging prematurely,” said Jo Ann Salamat, nutrition manager of Fonterra Philippines. She added, “Low bone density and poor
BIANCA KING talks about her metabolic age being 20 at her present age of 33
muscle mass brought about by lack of calcium and protein may affect one’s ability to stay active and keep up with day-to-day challenges. Unfortunately, with everyone’s busy lifestyle, balancing work, family and traffic, we tend to compromise on our food choices, sleep and exercise. That’s why even younger adults are experiencing premature aging.” A health risk assessment among 5,000 businessprocess outsourcing (BPO) employees in Metro Manila revealed that around 35 percent of those between 18 to 50 years old have low metabolism and
JO ANN SALAMAT, RND and nutrition manager, Fonterra Brands Philippines Inc.
bone mass. Metabolic age is a comparison between a person’s basal metabolic rate (amount of energy or kilocalories you burn a day to keep your body functioning) against the average BMR for an age. The calculation uses your age as a benchmark to determine your body’s efficiency by comparing that benchmark against the average metabolic rate of different ages. This is usually done by determining your visceral fat around the waist, weight and muscle mass and body fat percentage. If your metabolic age is lower than your actual age,
ROBERTA MUNDO, senior brand manager, Anlene Philippines
it means your body is in good health. If your metabolic age is higher than your actual age, it may be that you have health problems or you are simply not fit. The makers of Anlene suggest adding calcium- and protein-rich foods to your diet to improve your metabolic age. “Healthy aging has been among the top advocacies of our brand,” said Roberta Mundo, senior brand manager of Fonterra Philippines. “Apart from raising awareness on the topic, we also want the public to know that Anlene can help in [combating] premature aging.”
Business
E2 Wednesday, June 19, 2019
BOUTIQUE DEVELOPER REDEFINES MANILA LANDSCAPE IN ARCA SOUTH vides ample room for large tenants who need to provide a wide range of open spaces, offices, meeting rooms and critical support spaces for employees.
Flexible spaces
THE office floors in Fifty Six Central are designed flexibly to cater to tenants with varying size requirements, and can host single or multiple tenants. With columns spaced strategically and generously from each other, tenants are given added flexibility in designing their offices.
Amor Maclang
FIRST DIBS IN REAL ESTATE
Offset core
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FIFTY Six Central’s unique offset core layout makes the large floor plates ready for hosting multitenant floors and provides more space for tenants to design their units flexibly.
HE landscape of Metro Manila is beginning to be redefined by some of the most iconic structures coming from the best boutique developers in the country. Inspired by the emergence of boutique developers who are changing the way we build and work, I have decided to do a series on developers who create each property as if it were their last. Fi f t y Si x C e nt r a l i s Da i ic h i P roper t ies’s br a nd ne w 44,000 -square-meter creative office building, with 12 office floors and 1,700 sq m of ground floor retail thoughtfully designed to put tenants on the leading edge of their businesses. Recognized as the Five Star Best Office Development Philippines in the 2019 Asia Pacific Property Awards, this world-class building sets the standard for all others to follow at the new Arca South. After developing four consecutive world-class office projects in Bonifacio Global City, Daiichi Properties embarks in a new journey in the next business district of Arca South. Its latest project, Fifty Six Central, continues the Daiichi Properties signature of the most iconic and high-quality office buildings in very well-connected locations such as Arca South. Arca South is a 74-hectare master-planned, mixed-use development strategically located along the East Service Road of the South Luzon Expressway and is easily accessible via C-5 Road. It is also adjacent to the much-anticipated Taguig Integrated Terminal Exchange (ITX), which will serve as a central station for all provincial buses carrying passengers to and
from Laguna, Batangas and other provinces. A Skyway runs eastwest across Arca South to link the whole site to Slex and to the planned Metro Manila Expressway. The proposed Mega Manila Subway will also have a station within the district.
Twenty high-speed elevators
THE building is equipped with 20 high-speed elevators, 16 of which use the destination dispatch system for elevators and serve the low- to high-rise floors. The rest are the shuttle elevators to the parking floors and service elevators. Together with the offset elevator lobbies, the high-speed elevators enable faster access to every floor, reducing waiting and travel times.
56 Central
Enhanced structural design
‘Not so traditional’
FIFTY Six Central continues the tradition of Daiichi Properties’s buildings with enhanced structural design that can withstand earthquakes and typhoons. Leading structural engineer Thornton Tomasetti optimized the design and performance of Fifty Six Central to ensure its resistance to natural disasters.
FIFTY Six Central is not your typical office building; it infuses concept, branding and unique elements into its building design to enhance the experience of tenants.
Full glass concept
FIFTY Six Central’s façade reveals a fully transparent glass skin— a crystal framed in architectural form. The full glass design allows every floor to maintain full daylighting and views to the north, east and south, a critical productivity factor for people to work at their best.
Generous lobby and digital wall
FIFTY Six Central’s crystalline exterior extends to its generously spaced lobby, framing the space as a precious gem within the jewelbox-like architectural exterior. In the center of the lobby is the reception counter with a digital wall, infusing vitality with its showcased artworks, videos and beautiful graphics.
Innovative auditorium staircase
THE lobby is not only a place to go through when entering and exiting the building; it is a place
Winning combination
FIFTY Six Central lobby
where the building community can get together, to refresh and to recharge. The grand and innovative auditorium staircase in the lobby is the “place to be” in Fifty Six Central—people can relax, talk and see others.
Vibrant coworking
DAIICHI Properties and the design team put an emphasis on community by integrating a vibrant coworking venue into the building design. Whether used for expansion or a company’s first step on
the path to success, coworking fuels a highly collaborative spirit that is sought after and appreciated by young talent.
Dynamic retail amenities
FIFTY Six Central has allotted retail spaces with soaring ceilings that will welcome retailers to provide the office population with food, drinks and other service offerings. The retail amenities will provide comfort and convenience to tenants, and infuse dynamism to the building community.
Thoughtfully designed for businesses
DAIICHI Properties carefully considered what would be important to the tenants of Fifty Six Central, leading to the large and flexible floor plans, and top-of-the-line facilities ensuring business efficiency.
Large floor plates
FIFTY Six Central sits on two adjacent properties, providing the largest floor plates in a building of this class in the city. Each 3,000sq-m floor at Fifty Six Central pro-
FIFTY Six Central is the culmination of Daiichi Properties’s learnings and experiences in developing world-class buildings for over 25 years. For this building, Daiichi Properties brought together once again the leading global design firm Gensler and top structural engineering firm Thornton Tomasetti. Gensler has designed Daiichi Properties’s past three projects— One World Place, World Plaza and The Finance Centre. Thornton Tomasetti worked on the 42-story The Finance Centre, ensuring the high-rise tower’s structural performance. The winning combination has led Daiichi Properties to win for the fourth time the Best Office Development Philippines plum in the 2019 Asia Pacific Property Awards.
HOME
Keep your children safe with ZAP AK SHOP AND WIN YOUR DREAM RIDE WITH WILCON
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ECLARED by the Department of Health as Dengue Awareness Month, June is a good time to enjoin all communities to employ dengue-prevention measures to protect their loved ones, especially children, from this potentially life-threatening disease. A mosquito-borne viral illness, dengue fever primarily afflicts its victims through the bite of an infected Aedes species—the same mosquitoes that carry other deadly viruses such as Zika. Dengue fever causes flu-like symptoms and can develop lethal complications, which is why the World Health Organization considers dengue as a leading cause of serious illness and death among children in some Asian and Latin American countries. Given the menace of dengue fever, prevention and control is vital. One highly effective mode for keeping dengue-carrying mosquitoes
away is by using a trustworthy and reliable insect repellant such as Jardine Distribution Inc.’s (JDI) ZAP AK Multi-insect Killer Spray. ZAP has potent active ingredients and a formulation designed to effectively
and quickly kill mosquitoes as they come in contact with it. Because of its advanced formula, ZAP offers faster knockdown power than other brands in the market— and at a lower price, too. ZAP is also cost-efficient since it kills not just dengue-carrying mosquitoes, but also pesky cockroaches and flies. ZAP’s active ingredients have deadly effects against dengue- and Zikavirus-carrying mosquitoes. This Dengue Awareness Month, safeguard your children’s health by zapping away mosquito-borne dengue with JDI’s ZAP AK Multiinsect Killer. Jardine’s Home Pest Solution is available at leading supermarkets (Shopwise, Rustan’s, Wellcome) and DIY stores (Handyman, Ace, Citi and Wilcon) nationwide, among others. You may also order at JDI’s official Lazada store. For more information, go to www.jardinedistribution.com.
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S a way of giving back to its shoppers for making Wilcon Depot the most preferred and reliable home retail partner of homeowners and builders in the Philippines, Wilcon Depot launched its Wilcon Win Your Dream Ride Promo—one of its biggest raffle promotions to date—where it gives six lucky customers a chance to drive home a brand-new Toyota Fortuner car. Running now until June 30, 2019, customers will get one electronic raffle entry for every P5,000 worth of online or in-store purchase from Wilcon. To join, customers must register and submit their entries online with the generated raffle code from their receipts. Shop now and have your homes filled with Wilcon’s high-quality products to get
a chance to win your dream ride with Wilcon. Enjoy shopping from Wilcon product categories ranging from Tiles, Sanitarywares, Plumbing, Tools and Hardware, Paints & Sundries and Automotives, Building Materials and Doors & Mouldings, Housewares, Electrical, Furniture, Outdoor Living, Appliances, and Home Interior. Wilcon Depot keeps on providing amazing treats and boundless shopping experience to all of its valued customers nationwide. You can now enjoy and take advantage of the rewarding convenience of shopping online with Wilcon by simply going to www.shop.wilcon.com.ph., or visiting any of its 53 retail outlets nationwide. You can submit all your entries by logging on to www.wilcon.com.ph/winyourdreamride
until July 5, 2019. The grand electronic raffle draw is scheduled on July 9, 2019. Don’t miss the chance to win big and drive home a brand-new Toyota Fortuner car with Wilcon Win Your Dream Ride Promo! To get to know more about Wilcon and its promo offerings, you can visit www.wilcon.com.ph and follow their official social-media accounts on Facebook and Instagram @wilcondepot.ph.
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Wednesday, June 19, 2019 E3
HOME
Discover the joy of home with Sigvard Selections
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IGVARD Selections’s showroom has been at LRI Design Plaza since 2015, but the creative minds behind the furniture shop have revamped it into a retail space that effectively showcases their customized creations that combine exquisite design and high-quality craftsmanship. “At Sigvard Selections, home furnishing is more than just pieces to fill the home. That’s what we want our clients to see when they visit our store,” shared Oliver Or-
tiz, managing partner. Ortiz and his business partner Idr. Jigs Adefuin wanted to create a space where clients can readily experience the wide selection of
home furnishing products and furniture. Adefuin reinvented the lifestyle-concept store as a space with an exquisite design narrative and immersive shopping experience. The upscale look of the store remains true to the designer’s philosophy of assured quality and personalized exclusivity. Upon entering Sigvard Selections, potential clients can instantly envision their ideal home with the way the furniture pieces are arranged and curated around the showroom.
Aspirational aesthetics
FROM the entrance, visitors can immediately appreciate the showroom’s beauty. The pristine white walls serve as backdrop for artworks from Philippine masters, carefully selected and illuminated with sophisticated overhead light-
Cebu Landmasters reveals brand ambassador
ing systems. The wood flooring serves as the stage for the meticulously designed furniture pieces and selected home accessories, tastefully curated to suit the preferences of discerning homeowners. Sigvard maximizes the store space with a floor layout that gives customers ample room to browse the products on display and find the pieces that suit their style. Sigvard Selections offers a range of products from classic-inspired sofas, Art Deco side tables and sleek center tables for the living rooms; beds and other necessities that bring comfort; contemporary cabinets with distinct details; eyecatching wall accents; soft furnishing; and impressive artworks.
Personalized pieces
MORE than just a showroom,
Sigvard Selections is a living space. It embodies the designer's thoughtful consideration to details and materials that enable clients to appreciate the beauty of home furnishing and designing. The Sigvard showroom represents the starting point of Adefuin’s creative process. With a master’s degree in interior and living design from Domus Academy in Milan, Italy, Adefuin is known for his versatility in creating beautifully decorated homes. From traditional to contemporary design, he merges technique and knowledge with a deep understanding and respect for culture to create customized, high-quality home furnishings. Adefuin understands and treats each furniture piece with great value and care. Each piece emanates
with his respect for the materials he used, especially Philippine wood. Serving the demand for creativity and skill, excellence and perfection, he defies the “one size fits all” philosophy. He tailors each piece according to the people who will be using them. He creates functional and aesthetic pieces that suit the clients’ lifestyle. Sigvard Selections has been leading the way in home furnishing since 2015, resonating with a wide variety of customers looking for fresh decorating ideas. What makes this better is it’s just getting started. Visit the new and improved showroom of Sigvard Selections at Suite 117, Ground Floor of the LRI Design Plaza, Nicanor Garcia Street, Bel-Air II, Makati City, or visit www.sigvardselections.com.
COMMUNITY
Holcim supports call for global water conservation
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EADING cement maker Holcim Philippines participated in the celebration of the World Water Day (WWD), a global initiative advocating the importance of freshwater conservation, through various programs in its facilities across the country. Holcim Philippines has been implementing projects to conserve water in its facilities and help improve access to this resource to its communities since 2015 as part of its sustainability commitments. These are part of its pledge to support global building materials leader LafargeHolcim Group in contributing to the attainment of 14 of the 17 United Nations Sustainable Development Goals, which aim to improve the lives of people worldwide. Holcim Philippines Environment Man-
ager Stephanie Frogoso said the initiatives are designed to reduce the company’s water consumption by at least 30 percent by 2030, as its sites are among the top water consumers in the areas it operates in. “We continued to raise our efficiency in using this resource in 2018 by improving water-recycling facilities in our plants and consumption in the process lines. Our expansion project in the pipeline will also consider water-efficient operations, such as a closed-loop system to reduce water consumption,” Frogoso added. In its Bulacan plant in Norzagaray, Holcim currently utilizes an old quarry to collect rainwater for use in operations. This initiative can potentially provide 30 percent of the total water requirement of the plant. It is also part of the sustain-
able water management initiatives being implemented aside from other conservation programs in the plant. Holcim sites also actively participate in regular cleanup activities, water quality monitoring, and information and education campaigns. In Misamis Oriental, the Lugait plant implemented the “Water, Sanitation and Hygiene” project for community day-care centers to improve access of children there to such facilities. A total of 263 students from Mauswagon and Masikalon Daycare centers benefited from the project. In Davao, the Holcim plant is a partner of the local government and the Department of Environment and Natural Resources in protecting the Ilang River, which is used for recreation and household needs of a nearby community.
IAN VENERACION, whose roots are from Cebu, is the face of Cebu Landmasters’ campaign dubbed “Live Extraordinarily”—a promise the company gives to its clients.
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EADING VisMin developer Cebu Landmasters Inc. announced that it has selected actor and performer Ian Veneracion as brand ambassador for a new marketing campaign. Joie Soberano-Bergundthal, CLI vice president and marketing director, disclosed: “Ian’s personality and track record are a perfect fit for Cebu Landmasters. Whatever Ian does—be it acting, singing, or being a family man—he does it well.” Ian’s career spanning three decades has gracefully matured, setting an inspiring path for the CLI brand. CLI marks its 16th anniversary in real estate this year. TV and film actor Stephen Ian Lopez Veneracion is of Spanish heritage but also has a strong affinity with VisMin. His mother is from Cebu and Ian would spend
summers in the province. Veneracion will be the face of CLI’s campaign, dubbed “Live Extraordinarily,” a promise that the company gives to its clients. “This campaign and the choice of Ian as brand ambassador aim to embrace who we are as Cebu Landmasters. As the leading local developer in Vismin, we have grown through the trust and satisfaction of our clients. We always take that extra step in all we do. This has been the CLI advantage from the start, and it will continue to be our edge,” Bergundthal explained. “This is apparent in Cebu Landmasters’s hands-on service, valueadded amenities, VisMin expertise and the wide range of developments that we offer. We take to heart these four qualities of our firm because everyone deserves
to live extraordinarily,” added Bergundthal. Prior to joining Cebu Landmasters, Bergundthal had an extensive 10-year career in brand management in three countries: the Philippines, Thailand and Switzerland. She was then an executive in the world’s largest food and beverage company. CLI initially made its mark through residential projects and has expanded to include offices, mixed-use developments, hotels and townships. It has gained a strong foothold in key VisMin cities because of its mastery of the market. “Over the years, we have grown through the trust and satisfaction of the market because we enjoy exceeding expectations. This has always been and will always be the CLI advantage.”
HOLCIM Philippines’s participation in the recent World Water Day activities is part of its commitment to improve its overall sustainability performance by 2030 to support the LafargeHolcim Group and the United Nations in meeting long-term goals in improving lives of people.
BusinessMirror E1 | Wednesday, June 19, 2019 • Editor : Tet Andolong
REDDOORZ
Tourism industry attracting major hospitality players Part One
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By Rizal Raoul S. Reyes @brownindio
HE country’s tourism industry has attracted several players such as Southeast Asia’s largest value hotel and India’s largest hospitality company to serve the burgeoning market. In their recent study, integrated real-estate service provider Santos Knight Frank said tourism continues to generate interest among investors. Department of Tourism data indicated that foreign tourist arrivals grew by 7.6 percent in the first quarter of 2019 to 2.2 million—the majority coming from South Korea (24 percent), China (21 percent) and the United States (13 percent). The DOT also noted that Filipinos also showed as a strong market for the industry with 60 million domestic trips made by locals every year. SKF also noted major destinations such as Manila and Cebu have experienced an increase in the number of new hotels which will cater to expected growth demand. The company also said Manila has the biggest number of upcoming hotel rooms with 6,970 in the pipeline until 2023, concentrating mainly in the Bay Area, Makati, Ortigas and the Bonifacio Global City. Meanwhile, Cebu has at least 3,806 rooms in the pipeline until 2023, the majority of which will be in Lapu-Lapu City. Two integrated resort developments—Isla dela Victoria and Emerald Resort and Casino—are expected to increase tourism arrivals in Cebu. Moreover, the emergence of new technologies has made traveling more convenient to a critical mass of travelers. RedDoorz Chief Operating Officer Rishabh Singhi said the company has been keeping a close eye on the Philippine market even before the official launch of the brand in the Philippines. “There were 42 million domestic tourists in the country in 2018, which means over threefifth of Filipinos [15 years old and above] have visited a local destination. Moreover, with a median age of 23, the market is young and digitally savvy. These all point to a very vibrant outlook in the budget accommodations sector which RedDoorz plays in,” he said. Meanwhile, Oyo Philippines also expressed optimism on the country’s tourism market. In a separate e-mail interview, Oyo Philippines Country Head Ankit Arya noted that the best is yet to come for the country’s tourism sector. He said the 7.1 million tourists that visited the country last year and early 2019 are clear indication that country’s rich heritage, several tourists attractions, lively activities and warm hospitality of the Filipinos are factors that attract both local and
foreign tourists, “Alongside the Department of Tourism’s relaunch of the ‘It’s more fun in the Philippines’ campaign as part of the government’s proactive move to further strengthen the industry, the country’s tourism sector is surely set to reach greater heights. We, at Oyo Hotels and Homes, started our journey in the country in early 2019 and have seen a tremendous response to our offerings,” Arya said. Having bullish attitude on the country’s tourism, Oyo Philippines aims to invest over $50 million as part of their expansion road map to transform the country’s hospitality landscape while tapping the huge potential in the travel and tourism industry. “We are also committed toward creating over 1,000 job opportunities in the Philippines by 2020 while expanding our footprint to 10+ cities nationwide and adding 20,000 exclusive keys to Oyo’s chain of hotels. All our efforts are aimed at enriching the experience of travelers across the Philippines by offering a hospitality experience they can trust, using intelligent technologies to bring innovation to the heart of the guest experience,” Arya pointed out. Moreover, the entry of RedDoorz and Oyo in the local hotel scenario has boosted the capabilities of local budget hotels. Since partnering with RedDoorz, local partners increased occupancy after working with them. On the average, they reach 80 percent occupancy within three months of working with RedDoorz. He said RedDoorz provides 24/7 customer service and state-of-the-art technology to their partners without any additional fee. “This enables them to have a better perspective of their day-to-day operations.” Singhi noted their partner engagement programs also ensure that staff is kept motivated through team building activities and other programs such as free meal Fridays and other perks. RedDoorz also provides upskilling programs through consistent trainings. In March this year, RedDoorz conducted a training seminar for almost 100 properties across the country. “With our global brand and local presence in four countries, partner hotels do not have to worry about the marketing side anymore. They are able to reach and have access to customers all over the world,” he added.
RD Plus at The Ridge Tagaytay City
OYO One Liberty Hotel
“I now have more time for my family,” one of the owners even said to us. “This is a great cause that they now have more time for other things that matter.” The 35 and below age group is a rich market for RedDoorz comprising almost 80 percent of the client base. He said these young aspirational millennial customers are just looking for basics done right when it comes to accommodations. Ninety percent of them are locals. When it comes to budget accommodations, they really just want to have standardized expectations. For Singhi, local hotels just need to get the basics right and with the technology and global brand to enable to deliver a better experience for their guests. As far as Oyo Philippines is concerned, the country is one of the richest and most vibrant globally in terms of tourism. Aside from its natural beauty, the relatively low cost of hotel accommodations, its friendly and well-trained work force who can fluently converse in English to accommodate foreign tourists, and ample state support are just a few factors that continuously boost the local tourism. Along with these drivers, Oyo observed the Philippines is expecting to exceed 10 million foreign arrivals by 2027 and total visitors is forecasted to grow by 3.4 percent this year to 5.4 percent per year through 2028 according to the World Travel and Tourism Council. With this development, about 3,400 rooms are expected by property consulting firm Colliers to be added to Metro Manila’s current supply of about 24,000 rooms. Overall, the country’s robust tourism sector is spurring the hospitality industry. For the first quarter of 2019, Arya said Oyo Philippines has grown its chain to more than 52 hotels and are looking at adding 20,000 exclusive keys by the year 2020. With the country’s tourism and hospitality industry growing at an optimistic pace, Arya said Oyo is working closely with every asset owner in its chain, providing them with the operational capabilities and technology that enables them to deliver an experience that’s on a par with big hotel chains. On an average, Arya said every hotel that becomes a part of Oyo’s chain has experienced an increase in the occupancy from 25 to 65 percent in a brief span of three months. “We’ve been able to deliver the same performance in the Philippines too and will continue to drive quality-assured experiences for travelers at an affordable cost while increasing the yields for asset owners,” Arya said.
Challenges in the partnership
RD San Fernando
NEVERTHELESS, Oyo Philippines experienced challenges with some of their partners specifically on the revenue-sharing scheme. They said Oyo did not fulfill the revenue scheme promised to them. Furthermore, they said Oyo requested them to reduce it every time they meet for negotiation.
Entrepreneur BusinessMirror
E4 Wednesday, June 19, 2019 • Editor: Vittorio V. Vitug
Social enterprise brand joins global drive to cut plastic waste, save seas
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By Rizal Raoul S. Reyes
@brownindio
Contributor
UMAN Nature, the country’s social enterprise brand that manufactures genuinely natural products, has joined global efforts to save the seas from plastic pollution by opening refilling stations for its home-care products. “Home care is one of our fastmoving lines, and customers have long been asking for refills because of the volume of usage. This refilling system came from several months of research, sourcing and prototyping because we wanted to ensure safety, traceability and adaptation—that the system is effective and the cost isn’t a barrier for scaling up. We are working with design experts and social innovators to come up with a simpler and more scaled down model for refilling stations that can be implemented all over the country,” Human Nature President and Cofounder Anna Meloto-Wilk said in an interview. Human Nature home-care refilling stations are at SM City North Edsa and its flagship store in Commonwealth Avenue. The co-founder of Human Nature said the launch of the refilling station is in response to the development of a holistic approach to the recycling program.
12M tons Estimated quantity of plastic waste dumped into the oceans each year
Through its latest project, Human Nature hopes to educate the behavior of consumers on the importance of recycling toward sustainability. “First, you have to clean the bottle to refill and dry it,” she said. “In terms of behavior, buy only what you need. You have to control your own desires. You will realize later you accumulated a lot of stuff and end up not using it. It will later land in the landfill,” Meloto-Wilk pointed out. A 2018 article from the United Nations Environment Program, “Our planet is drowning in plastic pollution,” noted that 79 percent of plastics end up in the natural
MELOTO-WILK
environment. Of this proportion some 8 to 12 million tons of plastic waste go into oceans each year. And so, Meloto-Wilk said, “if we continue business as usual, by 2050, there could be more plastic than fish in the sea by weight.” Before launching the initiative, Meloto-Wilk said, engineers of Human Nature conducted several tests to determine the quality of the bottles. “These are [made of] sturdy materials and I think you can reuse several times,” she said. Meanwhile, Human Nature is teaming up with environmental groups and eco-conscious brands to call for standardized refilling policies to make refilling more widely accessible, while ensuring consumer safety. Currently, because refilling is classified under “filling,” a manufacturing activity, Meloto-Wilk said, the implementing rules and regulations of Republic Act 9711, or the
Food and Drug Administration Act of 2009, make it highly challenging for the safe refilling of cosmetic products accessible and available to most Filipino consumers. According to Meloto-Wilk, the presence of safe, appropriately regulated cosmetics and home-care refilling stations that are as accessible as water refilling stations can potentially spark a radical change in the way people and organizations consume goods and manage plastic waste. Human Nature has also formed an alliance with environmental groups such as Save Philippine Seas, Marine Wildlife Watch of the Philippines, WWF Philippines, and several more environmental advocacy organizations and eco-conscious brands to create safe, sustainable, and accessible refilling stations to reduce plastic waste nationwide. Nevertheless, Meloto-Wilk said, it is a huge challenge to wean people
away from using plastics. “People are so attached to plastics because they are good in protecting food and are affordable.” “But we need a way to change the use of plastic. Instead, we can use it over and over again so that we can reduce the volume of plastic that end up in our landfill,” she added. Meloto-Wilk said all Human Nature bottles can be returned to all Metro Manila branches. She added Human Nature is working with a recycling facility to repurpose old bottles. The project started on March 30. Meloto-Wilk said consumers can bring their empty, clean, and dry Human Nature home-care bottles to Human Nature SM City North Edsa The Block, or to the Human Nature Flagship Store on Commonwealth Avenue, Quezon City, and get up to P10 off for every 500 milliliter, 950 ml or 1 liter bottle refilled. The discount varies as Human Nature charges the refill by the gram to assure that in case of human error, a consumer will just pay for any excess. Founded in 2008 by Dylan Wilk, Anna Meloto-Wilk, and Camille Meloto, Human Nature products are made in the Philippines and free from harmful chemicals. In 2012, Human Nature was recognized by the World Economic Forum’s Schwab Foundation as a Champion for Social Entrepreneurship. In 2016, Human Nature became the first Asian brand to receive a Sustainability Pioneer Award from Ecovia Intelligence (Organic Monitor), a globally recognized think tank for the organic beauty industry.
Farmers, livestock raisers in dire need of mechanization, innovation–study
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ARMERS and livestock raisers need to look toward mechanization and new technologies to up their production and meet new demands. A study published by the Food and Fertilizer Technology Center, through the FFTC Agricultural Policy Platform, revealed that livestock and poultry industries have been better performing than crops and fisheries, meeting requirements of the Philippine Development Plan 2013-2017 of the National Economic and Development Authority. FFTC, however, sounded the need for more mechanization for farmers. The decline in agricultural manpower may induce increases in agricultural mechanization and lead to improvement in agriculture productivity. Sustained increases in food demand may induce farmers to seek productivity to improve technologies and practices, most already available but with limited adoption, the FFTC study said. The Philippine Statistics Authority (PSA), in its statistics for the economic performance of agriculture in 2018, indicated a
VARIOUS technologies and machinery for improved livestock production will be showcased at Livestock Philippines Expo 2019 this June at the World Trade Center in Pasay City.
positive growth in agriculture at 0.56 percent (P521.2 billion). All components of this sector posted a higher performance compared to the previous year’s. “Livestock contributed 17.74 percent of total agricultural sector. Carabao, hog and dairy came up with output gains in the fourth quarter of 2018. At current prices, the value of
livestock production reached P91.9 billion, up by 7.42 percent from the previous year’s level. From January to December 2018, livestock production went up by 1.89 percent,” the PSA reported. The report also cited the expansion of poultry by 5.75 percent in 2018 which had a value of P60.7 billion at current prices.
Fishery production also went up by 1.93 percent in the last quarter of 2018 which value was at P73.3 billion. The FFTC cited other areas of improvement for the agricultural sector; apart from mechanization, stimuli like improving access to other economic opportunities and livelihoods for farmers,
improving access to innovative financing and credit provision, strengthening linkages between production areas and markets, new marketing schemes and diversification of products. At Livestock Philippines Expo 2019, more than 280 exhibitors from over 30 countries will offer countless business, technologies, new methodologies and networking opportunities in the industry. Slated from June 26 to 28 at the World Trade Center in Pasay City, the biggest livestock-focused event of the country will also feature seminars and talks from agriculture experts and thought leaders. The three-day business event is organized by UBM Asia, a part of Informa Plc., a leading B2B information services group and the largest B2B events organizer in the world. Feeds Philippines Expo, PhilMeat 2019, and Aquaculture Philippines are also colocating this year’s Livestock Philippines Expo and Forum as a one-stop shop—from livestock production and nutrition, processing to packaging.
www.businessmirror.com.ph
FB hosts digital workshop for SMEs in Cebu
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EBU CITY—Digital transformation is the trend right now for small and medium-sized enterprises (SME) in the country, a client-partner of Facebook Philippines said here on Friday. Chay Mondejar-Saputil, Facebook PH client-partner, said it is important for businesses of all sizes to be able to adapt to trends shaping up “our digital marketplace,” the reason Facebook PH is conducting digital skills training programs for small and medium-sized businesses (SMB) nationwide. “We are committed to supporting businesses in their digital transformation journey to unlock growth opportunities and connect them to today’s mobilefirst Filipinos,” said Saputil during Facebook’s Accelerator Workshop for SMBs at Quest Hotel and Convention Center in Cebu City on Friday. “The shortest path to the market is through digitalization and we want to give the SMBs the power to achieve their potential growth the fastest way,” Saputil said. She said more than 50 million Filipinos are connected to an SMB Page on FB and approximately 130 million people overseas are also connected to a Philippine-based SMB on the platform. Facebook data also showed that 91 percent of SMBs said the platform helps them attract customers, 86 percent said it helped them sell their products, and 82 percent said their sales have increased because of the platform. Noteworthy in the Facebook report was the success of SMBs that translated into more job opportunities for Filipinos. Some 73 percent of SMBs reported that they have hired more people since joining Facebook. Sixty percent of SMBs also said they have built their businesses on Facebook. Because of this data, Saputil said Facebook PH will continue to conduct workshops and provide SMBs with the right tools and resources to kick-start and drive their digital enterprise. More than 100 Cebu-based SMB entrepreneurs attended the workshop and joined in-depth sessions and discussions on online marketing, branding and media planning best practices. Facebook started its digital skills training programs for SMBs in 2017 and has trained more than 5,000 SMBs in over 80 workshops conducted in 21 cities across the country. In partnership with the Department of Trade and Industry (DTI) and Bayan Academy, Facebook has earlier launched #BoostYourBusiness for aspiring entrepreneurs. Last year, Facebook also partnered with DTI, Department of Information and Communications Technology, and nonprofit organization Connected Women to launch #SheMeansBusiness for Filipinas using social media for their business ventures. PNA
Amid looming higher taxes on alcohol and tobacco products, entreps remain bullish on future sales of e-cigs, vapes
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ESPITE the regulatory challenges faced by the vaping industry, Filipino entrepreneurs selling e-cigarettes are bullish on the future of their product. E-cigarettes, however, are finding it hard to please the Department of Health and other regulators in the Philippines, even as a study offers hope for a better understanding of the electronic device. The latest research on tobacco harm reduction presented by a Greek expert can change the way doctors look at e-cigarettes (also technically referred to as vapes), according to Joey Dulay, president of the Philippine E-Cigarette
Industry Association. For years, Dulay has been advocating for e-cigarettes as a safe alternative to tobacco smoking. He said the new study is a big welcome to their industry. Even new players in the business are optimistic. Kris Lawrence, a singer by profession, recently opened a vape shop in Parañaque because he believes e-cigarettes are not harmful. “We see no major harm in using e-cigarettes. Not a few people were able to give up smoking in place of vape. A single cigarette stick is loaded with 36 mg of nicotine, as compared to a 65 ml of vape juice which only has 3 mg of nicotine,”
Lawrence said. “It [e-cigarette] doesn’t smell that bad as compared to cigarettes. I recommend vape in place of cigarettes,” he added. “Smoking remains a worldwide public health problem because it is very difficult for smokers to quit and smoking cessation medications have limited effectiveness. For smokers unable or unwilling to quit with approved smoking cessation medications, tobacco harm reduction could be a third-line option,” Lawrence said Dr. Konstantinos E. Farsalinos, in his lecture during the Asian Pacific Society of Cardiology Congress 2019 held from May 22 to 26, 2019, at the
SMX Convention Center and Conrad Hotel in Pasay City, highlighted the health advantages of shifting to vape. “The cigarette is the most effective and most harmful nicotine delivery system ever developed. Tobacco harm reduction is a public health strategy aimed at lowering smokingrelated health risks to individuals who cannot or do not want to quit by themselves or with currently approved methods through the use of less harmful nicotine delivery systems,” explained Farsalinos, a research fellow at the Onassis Cardiac Surgery Center, University of Patras, and National School of Public Health in Greece.
Farsalinos has been conducting research on e-cigarettes as principal investigator since 2011. His research findings were among the references used by the European Union in drafting the EU regulatory framework on e-cigarettes. E-cigarettes are the most common type of electronic nicotine delivery systems, which refer to devices that do not burn or use tobacco leaves but instead vaporize a solution the user then inhales. A cardiologist himself, Farsalinos presented congress delegates with official position statements of the American Heart Association and American Cancer Society, as well
as independent reviews by Public Health England and the Royal College of Physicians, supporting e-cigarettes as a significantly less harmful alternative to conventional cigarettes and viable smoking cessation aid. “Currently available evidence indicates that e-cigarettes are by far a less harmful alternative to smoking and significant health benefits are expected in smokers who switch from tobacco to e-cigarettes,” said Farsalinos, citing the key finding of a systematic review he co-authored and which was published in 2014 in Therapeutic Advances in Drug Safety.