Businessmirror June 21, 2019

BSP OPTS FOR ‘PRUDENT PAUSE’

By Bianca Cuaresma @BcuaresmaBM

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DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

HE Bangko Sentral ng Pilipinas (BSP) maintained its monetarypolicy settings unchanged on Thursday, as the Monetary Board deemed it necessary to pause for a while and observe recent economic developments in the country.

BSP Governor Benjamin E. Diokno announced in a press briefing that the Central Bank’s overnight reverse repurchase (RRP) facility is still at 4.5 percent. The interest rates on the overnight lending and deposit facilities were, likewise, left untouched.

In its May 9 meeting, the Monetary Board, which was then already chaired by Diokno, moved to cut rates 25 basis points as inflation continued to decelerate.

Earlier this month, however, the Philippine Statistics Authority (PSA) reported that the May inflation rate rose to 3.2 percent, from the 3 percent seen in April.

The BSP said that it is not concerned about the uptick in inflation.

Officials said they chose to adopt a wait-and-see stance following the recent adjustments to the BSP’s reserve requirement ratios (RRR).

“A prudent pause allows the BSP to observe and assess the impact of

See “BSP,” A2

BusinessMirror A broader look at today’s business

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n

Friday, June 21, 2019 Vol. 14 No. 254

Metro Mla wage board junks 4 wage-hike bids ₧710 T

By Samuel P. Medenilla

@sam_medenilla

HE regional wage board in the National Capital Region (NCR) has denied the wage petitions filed by four labor groups in April, citing lack of a supervening event.

In a two-page resolution, the Regional Tripartite Wages and Productivity Board-NCR (RTWPBNCR) noted the petitions to raise minimum-wage rates in Metro Manila were not exempted from the one-year ban rule.

The petitions were filed by these

groups: BPO Industry Employees Network, Pambansang Kilusan ng Nagkakaisang Manggagawa (Kilos Na Manggagawa) and Metal Workers Alliance of the Philippines (MWAP), each of which is pushing for a P213 pay hike; and the Trade Union Congress of the Philippines

(TUCP), which seeks a P710 acrossthe-board (ATB) increase.

They cited the high inflation rate blamed chiefly on the effects of the Tax Reform for Acceleration and Inclusion (TRAIN) Act; the need for higher pay to boost the productivity of workers; increase in

The across-the-board daily wage increase sought by TUCP. The three other petitioners pushed for a P213 pay hike

the prices of petroleum and other fuel products; and the alleged existence of supervening conditions to justify their petitions.

“Whereas, at this time, there is no showing of supervening conditions which would merit a review of the minimum wage rates,” RTWPBNCR said in its new issuance signed on June 7.

See “Wage hike,” A2

By Lorenz S. Marasigan @lorenzmarasigan

XPORTING rail expertise and equipment might seem like a pipe dream for many, but the government is bent on turning this vision into reality even as the Philippines struggles to provide efficient mass-transport systems to Filipinos.

Department of Transportation (DOTr) Undersecretary for Rails Timothy John R. Batan said once the Philippines establishes itself as a country filled with railway experts and manufacturers, it may soon consider exporting expertise and equipment to other countries.

“It is part of the industry development component for railway. It goes into the capabilities not just of our builders, but also our manu-

PESO EXCHANGE RATES n

facturers and operators,” he said.

Batan explained that the establishment of the Philippine Railway Institute—an educational organization aimed at training and producing quality rail experts and employees—will pave the way for the world to recognize the country as a railway expertise leader. Japan, the country’s top source of official development assistance (ODA), is bankrolling the initiative.

“Today, there are a lot of Filipinos working abroad for foreign railway lines. I think we can level up to that. Our own companies can eventually do that for other countries,” he said.

Batan noted that this is the broader vision for the Philippines, whose railway sector is still building up capacity both in terms of infrastructure and manpower.

See “Rail experts,” A2

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ABOVE-6% GROWTH STILL POSSIBLE IN 2019–NEDA

By Cai U. Ordinario

D

@caiordinario

ESPITE project delays caused by the 2019 budget impasse and global economic headwinds, the National Economic and Development Authority (Neda) remains confident growth of above 6 percent is attainable this year.

At the advocacy forum on achieving win-win approaches in sustainable development by the European Innovation, Technology and Science Center Foundation (EITSC) on Thursday, Socioeconomic Planning Secretary Ernesto M. Pernia said the economy can still grow by 6.5 percent this year.

This is within the 6-7 percent growth target this year but below the Philippine Development Plan (PDP) target of 7-8 percent. Pernia lamented that the budget impasse was really a major factor for why the economy could not grow faster this year.

PHL dreams of exporting rail experts, gear one day

E

prior monetary adjustments, including the phased reduction in the reserve requirements to be completed by the end of July,” Diokno said.

“Going forward, the BSP will continue to monitor emerging price and output conditions to ensure that monetary policy remains in line with the BSP’s price stability objective, while being supportive of economic growth,” he added.

Diokno said the BSP’s baseline forecasts indicate that inflation remains likely to settle within the target range of 2 to 4 percent for both 2019 and 2020, while inflation expectations have moderated further.

“Our economic outlook this year would be, is still quite respectable, and we will remain among the best-performing economies in Asia, but we will not be able to achieve our 7-8 percent economic growth target. That is because we have been hamstrung by the reenactment of the 2018 budget for 2019, and that really shr iveled our gover nment spending on infrastructure and other government services,” Pernia said.

Pernia added the delay in the 2019 budget passage prevented government spending from boosting the GDP. Government spending, he said, is a traditionally strong stimulus for the economy.

He said ideally, every peso spent by the government translates to benefits worth P10. The size of the impact of government spending on the economy means incomes for government suppliers and jobs.

See “Growth,” A5

BCDA cites Japan aid in infra boost

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LIFE-SAVING DRILL Members of the evacuation team of the Ayala North Exchange, part of the Ayala Group of Companies, show their preparedness in the nationwide Duck, Cover and Hold drill to ready the country for the “Big One”. The Philippines is in the Pacific Ring of Fire and has seen numerous deadly earthquakes through the decades, the last being a 6.1-magnitude temblor that rocked Central and Northern Luzon and parts of Metro Manila in April this year. BERNARD TESTA

L A R K FR EEPORT—T he prime mover of the government’s “Build, Build, Build” program has acknowledged the support of the Japanese government.

The Bases Conversion and Development Authority (BCDA) has recognized Tokyo’s support for the ambitious infrastructure program of the Duterte administration.

“This is one of the legacies that President Duterte will be leaving behind, the beginnings of the New Clark City; and we have the Japanese government to thank a lot because they really have been supportive from the very beginning,” BCDA President Vivencio Dizon said at the conclusion of the 8th High-Level Meeting of the Philippines-Japan Joint Committee on See “BCDA,” A2

US 51.8860 n JAPAN 0.4800 n UK 65.5995 n HK 6.6317 n CHINA 7.5161 n SINGAPORE 38.0675 n AUSTRALIA 35.7028 n EU 58.2576 n SAUDI ARABIA 13.8370

Source: BSP (20 June 2019 )

News

BusinessMirror

A2 Friday, June 21, 2019

SSS: Law requires protection for Filipinos here and abroad

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By Rea Cu

@ReaCuBM

EACTING to migrant worker solidarity groups decrying forced membership in the private pension body, the Social Security System (SSS) said it is duty-bound to implement provisions under Republic Act (RA) 11199, or the Social Security Act of 2018, to provide social protection for Filipinos, both based in the country and abroad.

In a statement on Thursday, the state-run pension fund pointed out that RA 11199 is a product of indepth and long discussions between the SSS, its stakeholders and the lawmakers, adding that the provisions in the law are for the benefit of Filipinos here and abroad.

Public consultations and hearings were conducted during and after the passage of the SS Act of 2018, contrary to recent claims that some sectors, particularly the overseas Filipino workers (OFWs) community, were not consulted in crafting the law, SSS management said.

“Public consultation hearings on the SS Act of 2018 were held on March 1 and 4 in Cebu and Manila, while a separate public forum on the provision of mandatory coverage of OFWs under said law was also conducted on April 29,” the SSS said.

The consultations were attended by representatives from the Filipino

BSP. . .

Continued from A1

“The Monetary Board observed that the risks to the inflation outlook are broadly balanced for 2019 and 2020.

Weaker global economic prospects amid a possible easing in global demand and increased trade tensions continue to temper the inflation outlook. The potential adverse effects of a prolonged El Niño episode remain a key upside risk to inflation,” the governor said.

The Monetary Board’s views on a further moderation of inflation pressures toward the end of the year are reflected on its new inflation forecasts.

Wage hike. . .

Continued from A1

Although the petitioners cited TRAINinduced inflation, the spike in prices had steadily been arrested after the September 2018 peak, with the series of inflation-busting measures rolled out by the government.

Inflation in the country slightly increased last May to 3.2 percent from 3 percent last April.

However, the inflation rate in May this year was still significantly lower compared to the 4.6 percent in the same period in 2018.

Republic Act 6727, or the Wage Rationalization Act, prevents the regional wage boards from processing new wage petitions until a year after their previous wage order took effect, except if they will declare a

Ham. . .

Continued from A12

Goodbye ham?

MEAT industry sources told the BusinessMirror the suspension of pork imports from the four European countries could cause pork prices to shoot up in the coming months and may even limit the supply of ham this Christmas season.

Industry sources said meat processors start to build up their raw material stockpile, such as pork bellies, by July as they begin preparations in producing Christmas hams.

“Those countries are our major sources for pork shoulders, bellies and hams. So, we might not see hams on our Christmas tables,” a highly knowledgeable industry source told the

Association of Mariners’ Employment Inc., Philippine Association of Service Exporters Inc., Joint Manning Group, Associated Marine Officer’s and Seamen’s Union of the Philippines, Coalition of Licensed Agencies for Domestic and Service Workers Inc. The SSS said its end-March 2019 data showed OFW paying members stood at only 325,061 as compared to the 2.3 million OFWs recorded in the latest Philippine Statistics Authority (PSA) data for the period of April to September 2018.

The pension fund called on the public to view SSS contributions as savings and not an additional expense, with the agency offering seven kinds of benefits in exchange for member contributions: sickness, maternity, disability, retirement, funeral, death and unemployment benefits, which could all be availed of by OFWs. Last June 18 it was reported that In particular, BSP Deputy Governor Diwa Guinigundo announced that the Monetary Board has scaled down its inflation forecast to 2.7 percent, from 2.9 percent in May. For 2020, the inflation rate is now seen at 3 percent, lower than the 3.1 percent announced in the previous meeting.

“On balance, therefore, the Monetary Board believes that the manageable inflation outlook and firm domestic growth prospects support keeping monetary-policy settings steady for the time being,” Diokno said.

325,061 The number of OFW paying members per SSS’s end-March 2019 data, compared to the 2.3 million OFWs recorded in the latest Philippine Statistics Authority data for the period of April to September 2018

migrant advocates and the recruitment industry warned that OFWs may have fewer job opportunities abroad in exchange for their new additional benefits from the SSS, as the implementing rules and regulations (IRR) on the mandatory OFW coverage under the SS Act of 2018 took effect.

The Joint Manning Group (JMG) said Filipino seafarers would be affected by the implementation of the provision for OFWs, as their foreign employers would now have to pay more for their SSS premium.

SSS membership for the estimated over 380,000 Filipino seafarers abroad was not mandatory prior to implementation of the law.

The SSS said in March it was targeting to implement the mandatory OFW insurance provision under the SS Act of 2018 by June this year, to enable them to enjoy all benefits of the state-run pension fund.

SSS Chief Legal Counsel Voltaire P. Agas said under this provision, land-based OFWs are covered by the SSS in the same manner as self-employed individuals, meaning, they will shoulder both the employer and employee contribution-sharing

WHILE BSP officials pledged that their next moves will remain dependent on economic data in the com-

ing months, analysts and economists said they expect the BSP’s easing cycle to resume toward the second half of the year.

“BSP opted to keep rates unchanged to stay data-dependent with moves engineered by evidence. If inflation shows that it will indeed revert to its downward path and if signs point to still anemic growth despite the initial stimulus from both the monetary and fiscal side, we could see BSP slashing policy rates further in the third quarter to help reverse 2018’s aggressive rate hike cycle,” ING Bank Manila NIcholas Mapa said.

“For BSP keeping key rates on hold in today’s meeting underscores its evidence-based stance, in keeping

supervening event.

A supervening event is any unusual increase in the prices of basic services and commodities like petroleum products for a given period.

The last wage order issued by the RTWPBNCR took effect on November 22, 2018.

In the case of TUCP’s petition, the wage board also ruled that processing a petition for an across-the-board wage hike does not fall within its mandate as decided by the Supreme Court in its decision in the case of Metropolitan Bank and Trust Company v NWPC (National Wages and Productivity Commission) and RTWPB Region 2.

As of Thursday, none of the petitioners had yet appealed the ruling of the RTWPB-NCR. TUCP Spokesman Alan Tanjusay lamented the dismissal of their petition. He said it just shows how the existing wage setting

mechanism of the country is already outdated.

“Because of this outrageous disconnection there is no growing, modernizing, and very competitive Philippine economy,”Tanjusay told BusinessMirror in a Facebook messenger reply.

He said TUCP will now be pushing for legislative reform of the current wagesetting mechanism in the country to make it “responsive and relevant to the needs of workers and families.”

For its part, the Employers Confederation of the Philippines (Ecop) agreed with the decision of RTWPB-NCR to dismiss the four wage petitions based on existing wages.

“Ecop believes that the allegations of the labor groups on the existence of a supervening event were baseless, groundless, unfounded and not supported by evidence,” Ecop said in a statement.

BusinessMirror. “Meat processors start Christmas preparation as early as July. And that’s how many days away.”

The import suspension will also affect poor Filipino consumers, as prices of pork products targeted to the masses could also shoot up due to limited supply. These products include bacon, lumpiang shanghai, longganisa, siomai, siopao, chicharon and other products that use pork byproducts as raw materials.

“Pork importation from these European countries are the offal and byproducts which are consumed by the lower economic class CDE. So we are absolutely certain that the Classes CDE would have less options for pork this year and coming years,” Meat Importers and Traders Association (Mita) President Jesus C. Cham told the BusinessMirror.

“We have already heard small and mediumsized meat processors, such as chicharon-makers in Bulacan and Cebu, complaining due to no materials. You are now having a situation wherein you have a product but it is very expensive due to limited supply,” Cham added.

Cham wrote Piñol on Thursday to ask him to reconsider the import suspension and for the DA to adopt science-based measures against ASF so as not to jeopardize the country’s pork supply.

Citing international standards, Cham explained that an area is only deemed a high-risk zone if it is within the 7-kilometer radius of the virus outbreak area.

“Based on the DA’s very own presentation of last year’s importation and hog production figures, without importation the Philippines will be short of pork for the year,” he said.

Rate cuts

scheme temporarily. This is because the Department of Labor and Employment (DOLE) and Department of Foreign Affairs (DFA) have yet to forge bilateral labor agreements asking employers from other countries to shoulder their respective contribution share.

He said the sea-based OFW already enjoy the benefits of a normal employee as their employer share of contributions is being shouldered by their respective manning agencies.

Premium contributions rising

MEANWHILE, the SSS also refuted claims it is not doing its job of collecting premium contributions from members especially through their employers.

“SSS records show that its contributions collections from members significantly increased since the current administration assumed office—from P132 billion in 2015 and P144 billion in 2016 to P159 billion in 2017 and to P181 billion in 2018,” the SSS added.

The increase in contribution collections is the product of aggressive collection efforts being pushed by the current SSS administration, which include the pilot implementation of the Run After Contributions Evaders, the SSS version of Operation “Tokhang,” and the issuance of Warrants of Distraints, Levy, and Garnishment on delinquent employers.

Under the SS Act of 2018, a contribution penalty condonation program for employers is now in effect until September 1, 2019. with [its] tradition of data dependency, where uncertainties in the geopolitical space and inflationary tendencies not yet fully in check,” said Security Bank economist Robert Dan Roces.

“Plus the United States Federal Open Market Committee’s and Indonesia’s policy stance informed its movement as well—the BSP’s tone is more of a prudent pause rather than a shift from dovishness,” Roces added.

Owing to slower inflationary momentum and rising concerns over the growth outlook amid rising external uncertainties, JP Morgan said it expects further cuts in the third quarter, bringing the policy rate to 4 percent by the end of this year, from 4.5 percent.

BCDA. . .

Continued from A1

Infrastructure Development and Economic Cooperation here.

“Based on the discussions in the meeting, there will be more support coming to us. In fact, there’s a joint venture between the BCDA and the Japan Overseas International Network for transport and urban development,” he added.

Dizon said this free port is a centerpiece of the administration’s infrastructure program, adding that it has taken more than three decades for the area to really develop.

“I think we usually forget that in Luzon where close to 60 percent of Filipinos reside, there is only one metropolis, that is Metro Manila,” he stressed.

“Past governments have been unable to develop regions and areas outside of Metro Manila as new centers of growth, and that is why we included the development of Clark and Subic, because their strategic nature becomes really the centerpiece not just of the Build, Build, Build program but also future developments later on,” he said.

“With these, we really need a new metropolis to not just address the congestion of Metro Manila but also to spread growth outside,” Dizon added. Ashley Manabat

www.businessmirror.com.ph

Importers to TC: Deny local cement makers’ plea for safeguards

By Elijah Felice E. Rosales @alyasjah

I

MPORTERS on Thursday asked the Tariff Commission to deny the demand for a definitive safeguard measure on cement, as local manufacturers are reportedly profiting and are therefore in no need of protection.

The Philippine Cement Importers Association (PCIA) said in a statement on Thursday local players continue to post growth, whether in revenue or earnings before income tax, over the past years in the face of import surge.

The PCIA argued there is no serious injury to the domestic industry, and no need for a definitive safeguard measure on cement.

“We have a domestic cement industry that is robust and resilient, amid the import surge, and already competitive against imports,” the statement read.

“Besides, the term ’serious injury’ connotes a degree of injury that causes or threatens to cause the demise or extinction of a domestic industry resulting from inability to compete with imports. This is far from what is happening,” it added.

Citing financial statements of local manufacturers, the PCIA said earnings of Eagle Cement last year grew 14.54 percent to P6.3 billion, from P5.5 billion in 2017.

Revenue of Holcim Philippines went up 2.59 percent to P35.6 billion, from P34.7 billion. The PCIA said Holcim’s earnings declined 16.66 percent to P3.55 billion, from P4.26 billion, “but is still nevertheless profitable.”

Importers also said revenue of Cemex Philippines, the parent firm of Apo

Cement Corp. and Solid Cement Corp., improved 7.52 percent to P23.42 billion last year, from P21.78 billion in 2017, according to its financial statement.

The PCIA added that local players in 2013 imported 66,800 metric tons of cement, and had a combined sales of P85.6 billion. In 2017 imports jumped to 3.07 million MT, as well as domestic industry sales to P109.1 billion—a 27.45-percent improvement from 2013.

For importers, this should be reason enough for the Tariff Commission to thumb down the plea of local manufacturers for protection from imports through the imposition of a long-term safeguard duty on cement, the PCIA said.

“The 2013 to 2017 results of operations of the domestic cement industry showed its ability to compete with cement imports. Despite the surge of imports during the period of investigation [2013 to 2017], the domestic industry continued to exhibit improving revenues and continuing profitability,” the statement read.

The Tariff Commission is assessing whether it needs to place a definitive safeguard measure on cement as endorsed by Trade Secretary Ramon M. Lopez.

Lopez in January slapped a safeguard duty of P210 per MT on cement to protect the domestic industry, as market share of imports enlarged to 15 percent in 2017, from 0.02 percent in 2013, according to data from the Department of Trade and Industry.

Local sales reportedly fell 12 percent, or by P11.1 billion, in 2017, on price reductions—nearly 10 percent —that were implemented to compete with imports.

JUUL Labs launches in PHL, offers adult smokers alternative

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ITH the total number of smokers in the country projected to balloon by at least 250,000 every year, the clamor to increase the “sin” taxes continues to haunt tobacco manufactures and distributors. Amid this background, the leading vapor brand in the United States on Thursday announced the launch of its JUUL vapor device and JUUL pods in the Philippines.

The launch in Taguig City marked the next step in JUUL Labs’s avowed mission to help improve the lives of the world’s 1 billion adult smokers by offering a viable alternative to combustible cigarettes. Through Better For You (BFY ) Corp., a Gokongwei-owned company, JUUL products will now be available to Filipino adult smokers looking for other options.

The Philippines is home to over 16 million adult smokers, which make up 23 percent of the adult population.

Rail experts. . .

Continued from A1

“The vision anchors on the statement of delivering a more comfortable life to more Filipinos,” he explained. “A more comfortable life entails giving predictability on how long the wait and ride will be, how reliable our infrastructure can deliver, and how accessible and affordable they are.”

At present, the transportation department is gunning to build roughly 1,900 kilometers of railway across the country through 2022, a huge leap from the existing 77-kilometer railway portfolio in Metro Manila.

This involves five megaprojects being funded by the Jica through Tokyo’s ODA program. This covers the first tranche of the Metro Manila Subway Project, the NorthSouth Commuter Railway (NSCR) Project and its extension, the Metro Rail Transit Line 3 Rehabilitation Project, the Light Rail Transit Line

Roughly 10 Filipinos die every hour due to smoking-related causes; and smoking-related diseases like lung cancer, hypertension, and cardiovascular disease cause almost 19 percent of all deaths in the country. Created with smokers in mind, JUUL is a simple, functional and portable device with a unique technology. Through a closed vaping system with pods and a patented temperature control design, it provides users with a consistent and satisfying experience.

JUUL Labs was cofounded by Adam Bowen and James Monsees. Once smokers themselves, they were increasingly dissatisfied with the health and social impacts of cigarettes but were unable to find true alternatives.

They started designing concepts for alternatives in the mid-2000s while at Stanford. It was in 2015 that JUUL was first launched in the US after a decade of research and development.

1 Cavite Extension Project, and the LRT Line 2 East Extension Project.

Jica has committed to partially fund these through a loan commitment of roughly ¥1.3 trillion. So far, ¥400 billion have been disbursed to the Philippine government to bankroll these projects.

These projects form part of the transport department’s vision of creating a “Greater Capital Region” by connecting Region 3, Region 4A, National Capital Region and Metro Manila. The new bloc will be known as an economic corridor that will allow Filipinos to travel from one end to another in 55 minutes.

“We took an out-of-the-box approach to this whole thing,” Philippine National Railways General Manager Junn B. Magno said.

For Kiyo Kawabuchi, a senior Jica representative to the Philippines, these developments are key to helping provide greater convenience to Filipinos. “The railway sector could transform the daily lives of Filipinos,” she said.

A4 Friday, June 21, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

UMIC status means higher interest rates on PHL loans

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By Cai U. Ordinario

@caiordinario

S the Philippines draws closer to reaching the upper middleincome country (UMIC) status, donors like the Japan International Cooperation Agency (Jica) are already looking at higher interest rates that would apply to the country.

In a briefing on Thursday, Jica Senior Rep. Kiyo Kawabuchi said that while the agency does not yet have a vision of what post-UMIC status lending to the Philippines will be, she said their lending rates will likely be higher.

Currently, Jica provides concessional financing to the Philippines anywhere from 0.01 percent interest rate to as high as 1.4 percent, depending on the kind of loans secured. Maturity periods of Jica loans range from 15 years to as long as 40 years with a

grace period of five to 10 years.

“If that [attain UMIC status] happens, in two years time, if you continue to be classified as UMIC, you will no longer be eligible to very concessional terms. We are starting to discuss closely with the Philippine government how we could finance projects within two years time before you reach that UMIC category so that we can provide as much cooperation as possible in concessional terms to respond to the need of the Filipino economy and social

environment,” Kawabuchi said.

However, Kawabuchi said Jica does not yet have a “specific vision” on how its lending will be extended to the country once it reaches UMIC status.

Rest assured, she said, that even if the country reaches UMIC status, the country will still be faced with development challenges that it cannot finance on its own.

This, Kawabuchi said, could present an opportunity for donor agencies like Jica to start non-sovereign operations in the country.

This means Jica can lend funds to private sector firms undertaking various projects.

“We have to think of different types of assistance. Of course we can continue technical cooperation. Also, nonsovereign lending, or maybe we have to push ourselves to [work more] with the private sector, not directly to the government. We have just started how we can still support the Filipino people even under that UMIC status,” she said.

Should Jica’s lending become

more expensive once the Philippines reaches UMIC status, Transportation Undersecretary Timothy John Batan assured that no existing project will be affected by this change.

Nonetheless, Batan said, a project that could be affected is Phase 2 of the Metro Manila Subway Project.

Jica is currently financing Phase 1 of the subway project with a loan of ¥104.53 billion or P52.265 billion.

However, he said that Jica has other means to help finance projects at affordable interest rates. This means higher than concessional rates but lower than market rates.

Kawabuchi said the Jica aims to extend ¥1.3 trillion for various ongoing projects being financed by the agency. Only ¥400 billion of this amount has been used.

This means, she said, Jica is still going to spend another ¥900 billion for projects using concessional rates.

Currently, the Philippines is classified by the World Bank as a Lower Middle Income Country (LMIC) which has a per-capita income of $996 to $3,895.

Group seeks lower safeguard duty on cheap ceramic tiles

By Elijah Felice E. Rosales @alyasjah

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ONSUMER group Laban Konsyumer Inc. has appealed to the government to apply a lower rate of safeguard duty on cheap tiles to prevent any potential impact on the cost of socializedandlowcosthousingprojects.

In a position paper transmitted to the Tariff Commission on Wednesday, Laban Konsyumer said the agency should study how the P3per-kilogram safeguard duty on ceramic floor and wall tiles will affect housing projects. It claimed cheap tiles, commonly used as flooring in low-cost housing, are covered by the

protectionist measure.

Estimatesby Laban Konsyumer put price increases on cheap tiles between 13 percent and 15 percent per piece.

“The commission should also consider the impact of the safeguard duty on the socialized and lower bracket housing project costs. The impact on prices of cheaper tiles of P3 per kilo can be anywhere of an increase of 15 percent per piece,” the position paper read.

For instance, a 30x30 wall tile of about 1.08 kilo and priced P24 per piece could increase by P3.24 when the safeguard duty is applied, according to Laban Konsyumer.

Further, a 30x30 floor tile weigh-

ing 1.26 kilos and selling P28 per piece could be P3.78 costlier after the tariff. On the other hand, a 60x60 floor tile with a weight of 6.48 kilos and price of P135 per piece could hike P19.44 on safeguard duty.

“On the other hand, consider a box of made in Spain ceramic tiles consisting of nine pieces in a box with a total weight of 19.4 kilos costs P1,827 per box, or P203 per piece,” the position paper read.

“Applying the P3-per-kilo safeguard duty is equivalent to P58.2 per box, or P6.46 per piece, that may be added to the retail price. The increase per box is 3.18 percent, or 1.56 percent per piece, much lower than

cheaper tiles,” it added.

The consumer group argued it is just right for the tariff body to assess if a uniform safeguard duty is reasonable without considering the different uses and users of ceramic floor and wall tiles, as well as its potential impact on the cost of putting up socialized and low-cost housing.

The Tariff Commission last week started its investigation on whether to impose a definitive safeguard measure on ceramic floor and wall tiles as endorsed by Trade Secretary Ramon M. Lopez. Under Department Administrative Order 19-06 issued in May, a P3 per kilo tariff is placed on imported tiles in aid of local manufacturers.

Lawmaker vows to push passage of mango devt bill

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OLLOWING the reported oversupply of mangoes, a lawmaker on Thursday vowed to push for enactment of the proposed Philippine Mango Development Act in the 18th Congress.

AAMBIS-OWA Party-list Rep. Sharon Garin of said she filed House Bill 3538 or the Philippine Mango Development Act, which, she said, the House Committee on Agriculture failed to approve.

Earlier, the Department of Agriculture said the Philippines has an excess supply of 2 million kilograms of mangoes.

Moreover, Garin said passage of the bill will help more farmers to learn to add more value to their crop.

She also remains optimistic that the bill will see the light of day in the 18th Congress, which will open on July 22.

“The goal of the [Philippine] Mango Development Act is to revitalize the Philippine Mango industry and protect the welfare of our local mango growers. Should it be signed into law, production support will be extended to our mango growers. This includes access to postharvest, storage and distribution/transport facilities,” Garin said in a news statement.

The bill seeks to refresh and bolster the competitiveness of the Philippine mango through decreased postharvest losses, modernized techniques and technologies, and international marketing strategies. Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

Industry gross revenue jumped 8.1 percent in Q1, QEI data show

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RO S S re ve nues of i ndustries nationwide increased 8.1 percent in the first quarter of 2019, according to the latest Quarterly Economic Indices (QEI) data released by the Philippine Statistics Authority (PSA).

The growth of gross revenues this year was faster than the 7.3-percent growth in the same period of 2018.

Among the industries, finance posted the fastest growth with 14.6 percent followed by transportation, storage and communication with 14.5 percent; trade, 14.4 percent; and real estate, 12.4 percent.

“Gross revenue refers to the value of receipts from the shipment of goods produced, resale of goods and services rendered,” the PSA explained.

Meanwhile, the Total Employment Index (TEI) grew 1.7 percent in the January-to-March period this year, also faster than the 1.3 percent posted in the first quarter of 2018.

Industries that saw higher employment were transportation, storage and communication with 4.3-percent growth; trade with 2.7 percent; manufacturing with 2.5 percent; and mining and quarrying with 2.3 percent during the period.

There were also increases in the TEI of industries such as finance with 1.6 percent; real estate with 1.3 percent; electricity, gas and water supply with 1.2 percent, and other services with 0.8 percent in the first quarter of 2019.

However, the PSA said the employment index in construction declined by 0.3 percent in the first quarter of 2019. It can be noted that in the first quarter, the construction sector posted its slowest growth since the fourth quarter of 2017.

Based on PSA data on the national income accounts, construction gross value slowed to 5 percent from 17.6 percent the last quarter

of 2018 and 10.8 percent in the first quarter last year.

Public construction suffered t he l a rgest dec l i ne w it h a n 8.6-percent contraction in growth in the January-to-March period this year. The National Economic and Development Authority (Neda) said this was largely due to the delay in the approval of the 2019 budget.

Meanwhile, the total compensation index (TCI) grew by 4.6 percent. Electricity, gas and water supply recorded the fastest growth at 9.8 percent.

Industries contributing to the growth were mining and quarrying at 9.2 percent; construction, 8.6 percent; manufacturing, 7.7 percent; and other services, 4.7 percent.

The list included finance which grew 2.4 percent; real estate, 1.9 percent; transportation, storage and communication, 1.8 percent, and trade, 0.3 percent.

T he PSA data also showed that the compensation per employee index (CEI) grew by 2.9 percent. T he g row th was attributed to the uptrend in construction with 8.9 percent, and electricity, gas and water supply with 8.6 percent.

Other sectors that contributed to CEI growth were mining and quarrying with 6.8 percent; manufacturing, 5 percent; other services, 3.8 percent; finance, 0.8 percent; and rea l estate, 0.5 percent.

However, PSA data showed that transportation, storage and communication, and trade declined by 2.4 percent and 2.3 percent, respectively.

“At constant prices, total compensation per employee index declined by 0.9 percent during the period,” PSA added.

The QEI is a compilation of quarterly indices on production, gross revenue, employment, compensation, production per worker compensation per employee.

Cai U. Ordinario

DPWH sets early completion date of C-5 South Link

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HE Department of Public Works and Highways (DPWH) said on Thursday it plans to complete the whole C-5 South Link earlier than the original target completion date with partial operations set to start next month.

DPWH Secretary Mark A. Villar said the Metro Pacific Tollways South Corp. (MPT South), through Cavitex Infrastructure Corp., is implementing a 24/7 work schedule to complete the full alignment of 7.7 kilometers by 2021.

“We are looking at the last quarter, but partial [operation] of this 2.2-kilometer segment up to Merville will open by July 23,” he said in an interview.

Known as Segment 3A1, the road spans from Merville in Parañaque to Taguig, featuring a bridge that crosses over the at-grade portion of both Skyway and the South Luzon Expressway (Slex). It aims

to decongest Sales Road, the East Service Road and the West Service Road.

Villar said the toll for the first segment is projected to be between P20 and P22.

“We are fast-tracking the construction to be able…to immediacy alleviate congestion,” Villar said. “Vehicular traffic spends about 1.5 hours just to cross from Villamor to Taguig via Fort Bonifacio.

This section alone will help about 5,000 vehicles easily cross under three minutes.”

Cavitex President Roberto V. Bontia said once completed, the C-5 South Link will create a chain of positive reaction for Metro Manila’s major roads.

“It will benefit about 50,000 cars in key areas of Metro Manila such as Makati, Taguig, Las Piñas, Pasay and Parañaque, as well as the roads of Edsa, Sales, East and West Service Roads,” he said. Lorenz S. Marasigan

ECONOMIC AND INVESTMENT SUMMIT Cagayan Economic Zone Authority (Ceza) Administrator and Chief

Executive Officer Secretary Raul Lambino (fourth from left) poses for a snapshot—with delegates each doing the trademark clenched fist of President Duterte—during the signing of the first Philippines-Indonesia Economic and Investment Summit at the Westin Jakarta Hotel in Indonesia on June 18, 2019. With him are Board of Investment Gov. Atty. Marjorie RamosSamaniego (from third from left), Philippine Ambassador to Indonesia Lee Hiong Tan Wee, PT Sentul Rickey Leuterio, Philippine Business Club Indonesia Chairman and PT Manila Water Indonesia President Tony Capati, PT Asia Select Ward Howell Country Director Dinna Leuterio and Mark Castro, secretary-general of PBCI and organizing committee chairman.

The Nation BusinessMirror

www.businessmirror.com.ph

Lawmaker backs Duterte plan to increase budget for AFP’s upgrade

By Jovee Marie N. Dela Cruz @joveemarie

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LAWMAKER on Thursday said the 18th Congress would consider President Duterte’s request to hike the budget allocation for the modernization plan of the Armed Forces of the Philippines (AFP).

Leyte Rep.-elect Martin Romualdez said the lower chamber would seek a consultation meeting with top military officials on the legislative measures that need to be prioritized so that the government can address the concerns of soldiers and their families.

“We, including President Duterte, saw the urgent need for Congress to act on the plight of our men and women in the battlefront,” said Romualdez in a news statement.

The President visited late Wednesday the Philippine Army’s 8th Infantry Division at Camp Gen. Vicente Lukban in Catbalogan City, Samar, where he also pinned medals for gallantry on nine soldiers wounded in action.

Romualdez said the 18th Congress should consider as top priority the allocation of more budget for military personnel who are leading the fight against terrorists and extremists.

The lawmaker said the President has earlier announced that the government is committed to pouring in P500 million for the medical assistance of troops in the battlefield.

The budget increase, Romualdez said, must also include the provisions for fast-tracking the second phase of the Philippine military modernization plan, which covers the period 2018 to 2022.

Under the first phase of the AFP modernization plan, which covered the years 2013 to 2017, at least P85 billion was allocated for the acquisition of assets including combat utility and attack helicopters, frigates, armored vehicles, rifles, and cargo and transport aircraft.

For the second phase, an amount of P125 billion should be earmarked for the acquisition of more equipment for external defense missions, including helicopters, fighter aircraft, multirole fighters, and missile and radar systems.

“We need to ensure that the AFP modernization program is on track so that government troops would continue to serve the nation and protect the country from all threats,” said Romualdez.

Govt urged to invest more on kidney transplantation

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By Roderick L. Abad | Contributor

EALTH experts called on the government on Thursday to invest more in kidney transplantation to help address the issue on the alleged misspending of public funds for dialysis treatments of indigent patients.

This was their common response to the alleged processing of dead patients’ claims to the Philippine Health Insurance Corp. (PhilHealth) by WellMed Dialysis and Laboratory Center.

Based on reports, two former employees accused the health provider for its illegal collection of deceased patients’ benefits. They asserted that its owners and officers allegedly participated in the illegal scheme.

Earlier, PhilHealth confirmed that it had monitored fraudulent acts of such health-care provider. As per its findings, 28 medical cases that have been filed involved deceased patients, while 12 others are under investigation. Given this, it recently filed 28 administrative cases against WellMed. Meanwhile, the Department of Justice has recommended the filing of charges of the complex crime of estate via falsification of official documents against WellMed owner Bryan Sy and two others regarding the alleged moneymaking scheme from nonexistent kidney treatments.

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OUR policemen were arrested on Wednesday in Quezon City by a crack task force of the Philippine National Police (PNP) after they were caught drinking in public and engaged in illegal gambling.

The policemen were identified as Staff Sgt. Erwin Gobis Sr. M/ Sgt. Demetrio Laroya and Cpl. Ariel Pasion, all assigned at the PNP Health Service, and S/Sgt. Gerry Ocampo, who is assigned at the PNP Crime Laboratory.

The four were arrested by the newly created Integrity Monitoring and Enforcement Group (IMEG) headed by Col. Romeo Caramat Jr. and formed by PNP chief General Oscar Albayalde to go after “undesirable” members in the police organization.

A report from the IMEG said that

ing conservation efforts, like what happened to our two Philippine eagles which are now in Singapore, to ensure that when there are incidents like bird flu, we would still have our reserve.”

“Probably they want to get a feel of the investment climate here before they would present the opportunities to their business groups. Or if they want to come back here, like in the case of Russia, which would be coming back after this Icon,” she added.

“This Icon [investment conference] is also seeing a game-changing event on how the next generation of Icons should be conducted,” Mon-

Growth. . . continued from a1 With jobs secured through government contracts such as construction projects, these workers will have the means to spend for their food and nonfood needs, Pernia said.

“Every dollar or every peso the government spends will be multiplied 10 times in terms of impact on the economy, and that’s because when government spends, several rounds of spending follow,” Pernia added.

“That’s why it was unfortunate that Congress was not able to get the 2019 passed before the end of 2018 because that would have increased our economic growth in the first quarter by at least 1 percentage point, so instead of 5.6 percent only, we could have

“It was a clear violation of existing rules. You cannot be charging for dialysis of a dead patient. So this is blatantly a fraud,” Dr. Susan P. Mercado told the BusinessMirror after the media launch of the documentary film contest by Renal Gift Allowing Life for Others (Regalo) held at the National Kidney and Transplant Institute (NKTI) in Quezon City.

While the issue is alarming, she said, it also opens up the questions on why there are so many people on dialysis and what should be done to address it.

This also raises concerns on the gap of public spending on kidney- failure treatments, added former Health Secretary Dr. Enrique Ona. Out of the P110 billion that PhilHealth pays for renal-care coverage of its members, he added, about P11 billion goes to dialysis.

Mercado even noted that it sponsors up to 90 sessions of dialysis with such amount, but only pays about P115 million on kidney transplantation.

Four cops nabbed for illegal gambling, drinking in public

European envoys. . . continued from a12 John Tria, spokesman of the DCCCII, said the consistent high growth rate of the city during the last five years, at more than 7 percent, would have rung the alarm among foreign investors on “why they were not here at the time that the city is experiencing a high growth, higher than the Philippines, and that of China.”

“That may partly explain why they have come in droves now,” he added. Davao City Mayor Sara Duterte confirmed the interest of the ambassadors to determine, or help convey, the investment opportunities.

“Some of them wanted to explore on help-

Editor: Vittorio V. Vitug • Friday, June 21, 2019 A5

grown at 6.6 percent,” he added.

In the first quarter, the economy only grew 5.6 percent, slower than the 6.5 percent posted in the same period in 2018. The growth is also the slowest in 16 quarters or since the first quarter of 2015 when growth was at 5.1 percent.

When the 2018 and 2019 first quarter performance of the government are compared, Government Final Consumption Expenditure weakened, growing only by 7.4 percent versus 13.6 percent in 2018.

Public construction contracted by 8.6 percent. This, the economic team said, affected projects such as the Department of Education’s repair and rehabilitation of school buildings.

its men arrested the four policemen at around 10 p.m. on Wednesday after they were caught in the act drinking liquor and engaged in betting in an online game for cockfighting inside Belen Lutong Bahay Restaurant located at 3rd Avenue, Bagong Lipunan, Cubao, Quezon City.

Also arrested during the operation were Leo Ocinar, a nonuniformed personnel of the PNP, a former policeman identified as Fidel Agustin and Teddy M. Carpio, owner of the on line gamomg establishment.

The IMEG team recovered bet money amounting to P14,430, two television sets used for online gambling, a digital video recorder for CCTV, a roll of betting ticket, two signal HHD digital box and 23 bottles of wines. Rene Acosta

teverde said, adding, “on this Icon, we have the head of the world’s largest cloud-technology company that has been instrumental in transforming urban centers into smart cities.”

She was referring to the attendance of the top-ranking executives of Alibaba Cloud International from Mexico. “They would present to the session what they did in transforming some cities in Malaysia and China into smart cities,” she said.

“This conference would be the new face of global e-commerce while conferences like this one would be held,” she said. “It’s a gamechanging Icon,” she said.

Among the major economic sectors, Services had the fastest growth with 7 percent.

Industry followed with a growth of 4.4 percent.

Agriculture, Hunting, Forestry and Fishing posted growth of 0.8 percent.

Net Primary Income (NPI) from the rest of the world grew by 1.9 percent resulting in the 4.9-percent growth of Gross National Income (GNI).

With the country’s projected population reaching 107.4 million in the first quarter of 2019, per capita GDP grew by 3.9 percent.

Meanwhile, per capita GNI and per capita Household Final Consumption Expenditure (HFCE) posted corresponding growths of 3.3 percent and 4.6 percent.

HEALTH experts­—led by Dr. Susan Pineda-Mercado (from left), special envoy of the President for Global Health Initiatives; Dr. Joselito Chavez, National Kidney and Transplant Institute (NKTI) deputy executive director for medical services; Dr. Romina A. Dañguilan, organizing committee lead for Regalo Organ Donation Advocacy; and former Health Secretary Dr. Enrique Ona, president and chairman of MCTJ Foundation and KFP—during the launch of Regalo Organ Donation Advocacy at the NKTI in Quezon City on Thursday. NONOY LACZA

“So we really have to do something about the cost of care,” said Ona, who is the president and chairman of Maria Corazon Torres Y. Javier Foundation and Kidney Foundation of the Philippines.

“Instead of paying for so much dialysis, shouldn’t PhilHealth be sponsoring more transplants because the patients become productive, they live longer, and they don’t suffer,” Mercado said. “This is a policy issue that needs to be addressed.

Why are we spending so much on dialysis and not on transplantation?”

Based on 2016 data, there are about 37,000 prevalent patients on dialysis

in the Philippines. Every year, about 20,000 new patients start undergoing dialysis. The two leading causes of kidney failure are diabetes and high blood pressure, respectively.

“The DOH has just concluded a study looking at the cost benefit of dialysis and transplantation. It found out that the highest quality of life and best cost benefit was achieved from kidney transplantation,” said Dr. Romina A. Dañguilan, organizing committee lead for Regalo Organ Donation Advocacy.

To do three times a week of hemodialysis, it costs around P400,000 a year,

whereas in kidney transplant, the huge payout is only to the operation itself, but after two years, the expenses go down since it just only needs medication, if needed.

“It’s really sad that the alleged misuse of PhilHealth funds happened. Again, there’s always abuse of the system. We really need to be very vigilant to be sure that this does not happen again. So for the doctors, they have to be more active, maybe in the centers where they practice to be sure that this abuse does not occur,” Dañguilan stressed.

A6

Agriculture/Commodities

Friday, June 21, 2019 • Editor: Jennifer A. Ng

Fear of ASF prompts DA to defer livestock exhibit

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HE Department of Agriculture (DA) has decided to hold off the staging of a livestock exhibit over fears that the event, which will showcase modern hog-raising equipment from other countries, could bring African swine

BusinessMirror

fever (ASF) to the Philippines.

Agriculture Secretary Emmanuel F. Piñol announced on June 19 that the upcoming Livestock Philippines Expo, which will run from June 26 to 28, has been deferred to the latter part of 2020

or until such time that the ASF has been controlled.

Piñol said the ASF virus could be carried by equipment and facilities that would be featured in the expo. He added that the organizer of the event, UBM Asia (Philippines)

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Co. Ltd., has agreed to postpone the expo.

“The possibility of ASF entering the country through participants, pork and pork products, feeds and farm equipments coming from ASF-infected countries as carrier of the ASF virus is not

remote,” Piñol said. The Livestock Philippines Expo 2019, organized by UBM Exhibitions Philippines Inc. (UBM) and supported by the DA, was supposed to be held at the World Trade Center in Pasay City. Jasper Emmanuel Y. Arcalas

Agriculture/Commodities

www.businessmirror.com.ph

PhilMaize rejects zero tariff for imported corn

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ORN planters belonging to the Philippine Maize Federation Inc. (PhilMaize) said they are okay with the proposed importation of 300,000 metric tons (MT) of yellow corn to pull down the price of animal feed, but not at zero tariff.

BusinessMirror

PhilMaize President Roger V. Navarro told the BusinessMirror that planters will not oppose importation as there is a need to augment the shortfall in local corn supply.

What they are opposing, Navarro said, is the reduction of tariff on corn to zero

as proposed by the Department of Agriculture (DA).

If imports will come in tariff-free, he said the government will not be able to beef up its revenues, which it could use to fund programs that will improve the local

Friday, June 21, 2019 A7

corn sector. “That’s our official position.

As to a compromise for tariff-free imports, we have yet to discuss that,” he said in an interview after the Tariff Commission (TC) hearing on Wednesday about the DA’s proposed tariff-free importation of 300,000

MT of corn this year.

Also, Navarro said during the TC hearing that farm-gate prices will drop if imports, whether at reduced or zero tariff, will enter the country during harvest season.

See “Corn,” A8

A8

Agriculture/Commodities

Corn. . .

Shortfall

BusinessMirror

Friday, June 21, 2019

Continued from A7

DURING the TC hearing, DA National Focal Person for Corn, Cassava and Soybean

Lorenzo Caranguian disclosed that the country has already lost about 254,000 MT of yellow corn due to El Niño.

Caranguian said that based on the DA’s supply and demand analyses, the country would have to import 585,000 MT of yellow

corn and 2.808 million MT of feed wheat to plug the shortfall in local production.

This, Caranguian noted, would allow the country to have a total supply of about 10.245 MMT, which is 989,000 higher than the estimated total demand this year of

9.256 MMT. The DA expects yellow corn output this year to reach 5.521 MMT. He added that only around 119,000 MT of yellow corn and 1.568 MMT of feed wheat has been purchased by the country to date.

“To protect the local farmers, the impor-

www.businessmirror.com.ph

tation should not come during the harvest seasons,” he said. The next corn harvest season would be in August until October.

Cheaper feeds

PHILIPPINE Association of Feed Mill-

ers Inc. President Terence S. Uygongco told the BusinessMirror that his group will work with PhilMaize and the DA to craft importation guidelines that would address the need of the two industries. Jasper Emmanuel Y. Arcalas

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

The World BusinessMirror

Iran says Revolutionary Guard shoots down US drone

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E H R A N , I r a n — I r a n’s Revolutionary Guard said on Thursday it shot down a US drone amid heightened tensions between Tehran and Washington over its collapsing nuclear deal. The US military declined to immediately comment.

The reported shoot down of the RQ-4 Global Hawk comes after the US military previously alleged Iran fired a missile at another drone last week that responded to the attack on two oil tankers near the Gulf of Oman. The US blames Iran for the attack on the ships, which Tehran denies.

The attacks come against the backdrop of heightened tensions between the US and Iran, following President Donald J. Trump’s decision to withdraw from Tehran’s nuclear deal with world powers a year ago. The White House separately said it was aware of reports of a missile strike on Saudi Arabia amid a campaign targeting the kingdom by Yemen’s Iranian-allied Houthi rebels.

Iran recently has quadrupled its production of low-enriched u r a n iu m a nd t h re at e ne d to boost its enrichment closer to weapons-grade levels, trying to pressure Europe for new terms to the 2015 deal.

In recent weeks, the US has sped an aircraft carrier to the Middle East and deployed additional troops to the tens of thousands already in the region. Mysterious attacks also have targeted oil tankers as Iranian-allied Houthi rebels launched bomb-laden drones into Saudi Arabia.

All this has raised fears that a miscalculation or further rise in tensions could push the US and Iran into an open conflict, some 40 years after Tehran’s Islamic Revolution.

Iran’s paramilitar y Revolutionar y Guard, which answers only to Supreme Leader Ayatollah A li K hamenei, said it shot down the drone on Thursday morning when it entered Iranian airspace, near the Kouhmobarak district, in southern I r a n’s Hor mo zg a n pro v i nce.

Kou hmobara k is some 1,200 kilometers (750 miles) south east of Tehran and is close to the Strait of Hormuz.

Iran’s state-run IRNA news agency, citing the paramilitary Revolutionary Guard, identified the drone as an RQ-4 Global Hawk.

Capt. Bill Urban, a US Central Command spokesman, declined to comment when asked if an American drone was shot down.

However, he told The Associated Press: “There was no drone over Iranian territory.”

Me a nw h i le, W h ite Hou s e Spokesman Sarah Sanders said Trump had been “briefed on the reports of a missile strike in the Kingdom of Saudi Arabia.”

“We are closely monitoring the situation and continuing to consult with our partners and allies,” Sanders said.

The Houthi’s Al-Masirah satellite news channel claimed the rebels targeted a power plant in Jizan, near the kingdom’s border with Yemen, with a cruise missile.

Saudi state media and officials did not immediately report a missile strike on Thursday.

A S aud i -le d coa l it ion h a s been battling the Houthis since March 2015 in Yemen, the Arab world ’s p o ore s t n at ion no w pushed to the brink of famine by the conf lict. In recent weeks, the Houthis have launched a new campaign sending missiles a nd bomb -l aden d rones into Saudi Arabia. AP

Opec’s top 3 put group on track to extend oil-output cuts in July

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PEC is poised to extend oil-output cuts for the rest of the year when its members meet next month to assess supply and demand for crude.

Saudi Arabia, Iraq and the Un it e d A r a b E m i r at e s — t h e group’s three biggest members— all want to keep restraining production in a bid to buttress crude amid signs of faltering demand.

Having resolved a monthlong fracas over when to meet, the Organization of the Petroleum Exporting Countries and its allies now look likely to roll over the cuts when they gather on July 1 and 2 in Vienna.

“I am not expecting a ver y difficult process in approving t he e x tension,” Un ited A rab Emirates Energ y Minister Suhail A l Mazrouei told reporters on Wednesday in Abu Dhabi.

Discussions at the July meeting will focus on the duration of the next agreement, he said.

Al Mazrouei’s remarks echoed views expressed over the weekend by Saudi Energy Minister Khalid Al-Falih and earlier in the month by Iraqi Oil Minister Thamir Ghadhban. Russia, the largest producer outside Opec, remains a question mark as it has yet to clarify whether it will join in any cuts.

Market turmoil

THE producer coalition known as Opec+ agreed earlier on Wednesday to meet at the beginning of July. However, the group’s difficulty in picking a date highlighted political differences among its members and stoked turmoil in markets just weeks before their

current production cuts expire.

West Texas Intermediate for July delivery traded up 1.3 percent at $54.47 a barrel on the New York Mercantile Exchange as of 9:45 a.m. on Thursday in Singapore.

The threat of conflict in the Persian Gu lf adds to market volatility. Tensions between Iran and the US are escalating after attacks last week on oil tankers near the Strait of Hormuz. A rocket strike on Wednesday near an Exxon Mobil Corp. workers’ camp in Iraq had no effect on that nation’s oil fields or exports, according to a person with knowledge of the matter.

Opec’s Economic Commission Board, which met this week in Vienna, sees global oil inventories contracting by almost 500,000 barrels a day if the group continues to curb supply in the second half, a delegate said. That means that while they’re planning to extend their agreement to trim output, countries like Saudi Arabia—which are making deeper cuts than promised—will still have scope to pump more without violating the deal.

“We are hoping that we will reach consensus to extend our agreement when we meet in two weeks’ time in Vienna,” Saudi Arabia’s Al-Falih told reporters on Sunday, in Japan. The kingdom, Opec’s biggest member, is seeking to balance global oil markets before 2020, he said.

Iraq, Opec’s second-largest producer, sees the group and its allies extending production cuts “at least” on current terms without “serious difficulties,” Ghadhban said on June 7, in Saint Petersburg.

Bloomberg News

Friday, June 21, 2019

A9

UK Tory race down to four as Boris Johnson pads lead

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ONDON—The race to become Britain’s next prime minister is down to the final four on Wednesday, as Boris Johnson stretched his lead among Conservative lawmakers and upstart Rory Stewart was eliminated from the contest.

Johnson, a former London mayor and UK foreign secretary, won 143 of 313 votes cast in a thirdround ballot of Conservative lawmakers. Many fellow Brexit supporters in Parliament have rallied behind his insistence that Britain must leave the European Union as scheduled on October 31.

Foreign Secretary Jeremy Hunt, Environment Secretary Michael Gove and Home Secretary Sajid Javid trailed well behind, while Stewart came last and was dropped from the race.

More votes on Thursday will winnow the field down to two. The final pair of candidates with the most votes will appear on a runoff ballot mailed to about 160,000 party members across the country.

With Johnson all but guaranteed to be one of the two finalists,

Hunt, Gove and Javid are battling for the second spot in the runoff.

The winner, to be announced in late July, will replace Theresa May as party leader and prime minister.

May stepped down as Conservative leader earlier this month after failing to secure Parliament’s approval for her Brexit deal.

Wednesday’s vote ended the gravity-defying campaign of Stewart, who began as a long shot but sent an electric charge through the race as the “anti-Boris” candidate.

He got just 27 votes, fewer than in the second round.

A former diplomat who once walked across Afghanistan and was a deputy provincial governor in Iraq after the 2003 US-led invasion, the 46-year-old lawmaker called out his rivals for what he saw as their fantasies

and empty promises, and called for compromise on Brexit.

His quirky campaign, which saw him crisscross Britain talking and listening to voters, struck a chord with the public—though was less of a hit with his Conservative colleagues in Parliament.

After the result, Stewart said it had been “the most incredibly wonderful, exciting campaign.”

He said that although he had not managed to persuade his colleagues, the public reaction proved that “pragmatism” and “the center ground” were alive and kicking in politics.

Hunt, who got 54 votes, and Gove, with 51, are tussling for second place and the slot of Johnsons’ runoff opponent. Javid was in fourth place, with 38 votes.

Many in the party doubt that anyone can beat Johnson, a quick-witted, Latin-spouting extrovert admired for his ability to connect with voters, but mistrusted for his erratic performance and record of inaccurate, and sometimes offensive, comments.

Hunt is considered an experienced and competent minister, but unexciting. Javid, the son of Pakistani immigrants, says he offers a common-man alternative to his private-school-educated rivals like Johnson and Hunt, although he was a highly-paid investment

THIS file four-photo combo image of various recent dates shows the contenders to the Conservative Party’s leadership, from left: Michael Gove, Boris Johnson, Jeremy Hunt and Sajid Javid. Rory Stewart has dropped out of the contest on Wednesday. Britain’s Conservative Party will continue to hold elimination votes until the final two contenders will be put to a vote of party members nationwide, with the winner due to replace Prime Minister Theresa May as party leader and prime minister. AP FILE PHOTO COMBO

4 CHARGED IN DOWNING OF MALAYSIAN AIRLINER OVER UKRAINE

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IEUWEGEIN, Netherlands—International prosecutors announced murder charges on Wednesday against four men—three of them Russians with military or intelligence backgrounds—in the missile attack that blew a Malaysia Airlines jet out of the sky over Ukraine five years ago, killing all 298 people aboard.

The case, built with the help of wiretaps, radar images and social-media posts, marks the most significant step yet toward tying the tragedy to Moscow, which has backed the pro-Russian separatists fighting to seize control of eastern Ukraine.

In announcing the charges, prosecutors appealed for witnesses to help lead them even further up the chain of command in President Vladimir Putin’s Russia.

Investigators “want to go as far as we can get” because “it’s important to know who can be held responsible for this absolute tragedy,” top Dutch prosecutor Fred Westerbeke said.

The trial for the defendants, who also include a Ukrainian separatist fighter, was set for next March in the Netherlands, though it appeared unlikely any of them would be brought before the court, since Russia and Ukraine forbid the extradition of their citizens.

Russia’s Foreign Ministry called the charges against the country’s citizens “absolutely unfounded” and accused the investigators of using “dubious sources of information” and ignoring evidence provided by Moscow in order to discredit Russia.

It said, too, that the international team turned a blind eye to Ukraine’s failure to close its airspace to commercial flights despite the fighting that endangered aircraft.

Malaysia Airlines Flight 17 from Amsterdam to Kuala Lumpur was brought down on July 17, 2014, over eastern Ukraine by what investigators said was a Buk missile from a Russian anti-aircraft unit. Investigators believe the Ukrainian rebels probably mistook the Boeing 777 passenger jet for a Ukrainian military plane.

Russia has repeatedly denied involvement in the attack, but eastern Ukraine’s pro-Moscow rebels have relied heavily on Russian military assistance during the separatist conflict that erupted in April 2014 and has claimed more than 13,000 lives.

Associated Press reporters spotted a Buk, an unusually big and sophisticated type of weapon, in the Ukrainian town of Snizhne, just hours before the jetliner was shot down, raining debris and bodies down onto farms and sunflower fields. AP

banker before entering politics.

Gove is the sharpest performer and could come out best in headto-head debates with Johnson, his long-standing frenemy.

Like Johnson, Gove helped lead the campaign to leave the European Union, but scuttled his friend’s bid to become prime minister in 2016 when he unexpectedly withdrew his support and decided to run for the job himself. The move left him with a lingering taint of treachery in the eyes of some Conservatives.

All the candidates to replace May have vowed to succeed where she failed and lead the country out of the EU. They differ widely on how to do that—and critics say none of their plans is realistic.

The EU says it won’t reopen the Brexit agreement it struck with May’s government, which has been rejected three times by Britain’s Parliament. Many economists and businesses warn that leaving without a deal on divorce terms and future relations would cause economic turmoil, as tariffs and other disruptions are imposed on trade between Britain and the EU. Johnson has won backing from the party’s die-hard Brexiteers by insisting the UK must leave the bloc on the rescheduled date of October 31, with or without a divorce deal to smooth the way.

The UK’s withdrawal, originally set for March 29, has been pushed back twice amid political deadlock in London. Johnson said during a TV debate on Tuesday there would be a “catastrophic loss of confidence in politics” if Brexit was delayed any further.

Javid, like Johnson, says he would try to leave the EU without an agreement rather than delay Brexit beyond October 31. Gove and Hunt both say they would seek another postponement if needed to secure a deal, but only for a short time. AP

A10 Friday, June 21, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

How do we measure the economy’s health?

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HEN the experts speak about the economy, they usually talk in terms of performance.

Initially, it is all about economic growth as measured by the rate of growth of the gross domestic product. The GDP numbers show how much larger—or smaller—the total value of the production of goods and services is from one time period to another.

You can dive deep into the value of the economy against the size of the population. We can then look at how that growth in size is affecting—or not affecting—specific segments of the population, as with the poverty numbers. But all of that is in a sense the result or the outward manifestation of the health of the economy.

It is sort of like when someone tells us we look tired. Do we look fatigued because we are under stress worrying about something? Are there dark circles under our eyes because we have been staying up late watching some program on Netflix? Or is it because we are at the early stages of a serious medical ailment that we do not yet know about?

When it comes to health, there is the old and wise idea that we should listen to our body. If something “feels wrong” then there is a good chance that something is wrong. Obviously, the most evident sign of a health problem is pain. That is why you often read on the label of over-the-counter medicines for fever and pain, “If symptoms persist, consult your doctor.”

So how do we measure the health condition of the economy on a “dayto-day” basis, knowing that by the time the quarterly report comes out, it may in a sense be too late? Further, is there any data applicable to the Philippines that would be beneficial?

Many economic observers—from those with a dismal track record to those that are pretty good at seeing into the future—are saying a US economic recession is coming sooner rather than later. All economies ultimately come down to goods being produced and those goods being purchased.

The US is a large country geographically, with literally thousands of miles between the sources of production and the markets. And much economic data can be manipulated, or even outright false. A publicly listed furniture manufacturer can talk about how the production lines are booming without mentioning that his warehouses are overflowing with stocks. A department store can talk about the increase in foot-traffic without saying that average sale per customer is decreasing.

But one factor that cannot be faked is transportation between producer and buyer. The US trucking industry is an $800-billion business.

For the sixth consecutive month, the cost of hauling goods by trucks has decreased. Much of this transportation is on a contract basis, with truckers being paid even if there are no goods that need to be moved.

However, loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, dropped by 62 percent in May year-on-year. The US trucking industry is not facing a recession; it is a disaster with many companies going bankrupt.

Will the general US economy move in the same direction? We are not the ones to ask. But we can ask this question: What should we as average citizens be looking at on a short-term basis to measure the health of the Philippine economy?

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WAS a Hong Kong resident for almost eight years while working with the largest insurance company in the world. I had a small team of local Chinese that supported me in providing claims and policyowners’ services in 16 countries in Asia.

I’ve not seen a corps of employees as dedicated and hardworking and I’ll never get tired praising them.

All their energies were channeled to attain excellence and satisfy customers’ expectations. Their work is their world, and it seemed that nothing could ever distract them from work. However, one day in June 1989, they all left their posts and joined the first massive prodemocracy demonstration staged in Hong Kong to express their collective anger over Mainland China’s violent crackdown of student demonstrators protesting in Tiananmen Square, which history labeled as the Tiananmen Square Massacre.

So I’m not surprised at all by the recent “people power” being staged by millions of Hongkongers, triggered by the proposed extradition bill that would allow criminal suspects in Hong Kong to be tried in Mainland China. Under the so-called one country, two systems framework, Hong

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Kong was guaranteed to retain its legal and political systems for 50 years after its handover from the British sovereign on July 1, 1997. Beijing should not be stunned by this bold action. Hong Kong residents zealously treasure their independence and cherish the human rights they have enjoyed since the British rule. China should respect its pledge that under Chinese rule, the Hong Kong Special Administrative Region shall enjoy a high degree of autonomy except in the matters of foreign relations and defense, and that the social and economic system shall remain unchanged for 50 years, or until 2047.

There is a growing concern about China’s tightening grip over the semi-autonomous island. The massive protest actions reflect the people’s growing apprehension of Mainland authorities’ design to gradually curtail the rule of law in Hong Kong.

Will the movement in Hong Kong encourage more pro-democracy ac-

Not an ordinary collision Rev. Fr. Antonio Cecilio T. Pascual

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Will Hong Kong encourage more pro-democracy actions in China?

B

ROTHERS and sisters, on the day of our independence or Araw ng Kalayaan celebrations, Defense Secretary Delfin Lorenzana shared news of a collision between fishing vessels in the Recto Bank within the West Philippine Sea. A boat manned

by Filipino fishermen—the Philippine vessel FB Gimver 1—and a Chinese fishing vessel allegedly collided. Unfortunately, the boat of the Filipino fishermen sank. It was said that the collision was intentional because our fellowmen’s boat was anchored when the incident occurred.

There are two issues in this story.

First, it is clear that the Chinese vessel was inside the exclusive economic zone (EEZ) of the Philippines.

The foreigners are in an area rich with natural resources like fish, oil and gas deposits. But it is not new for China to violate provisions of the UN Convention on the Law of the Sea or Unclos. Three years have passed since the UN Tribunal issued its decision on our inquiry on China’s claims in

the West Philippine Sea, but until now, China still doesn’t recognize this decision.

The Chinese still continue to explore our water resources and sometimes even prevent Filipino fishermen from fishing within our EEZ. Three years have passed but China continues to violate the sovereign right of the Filipinos in the West Philippine Sea. The second and more worrying

tions in China and succeed to set up again the symbolic Goddess of Democracy (a replica of the Statue of Liberty), which was pulled down in Tiananmen by the Chinese authorities during the bloody dispersal of the student demonstrators?

I’m sure there are many who remain undaunted and inspired by the image of the Tankman who stopped a phalanx of tanks in Tiananmen that threatened to crush him.

Mao’s slogan may boomerang and we may yet see “a thousand flowers bloom” inside the communists’ bastion. As Alexander Pope has said in his poem, “An Essay on Man”, “Hope springs eternal in the human breast….”

The shelving of the extradition bill and the admission by Hong Kong Chief Executive Carrie Lam that she had misjudged the public temper appears to be a temporary reprieve for the opponents of the measure. Will it be permanently withdrawn and will the Central Government concede? The lesson here is that a government cannot bully its people who stand united and determined to oppose any abuse of state power. We should learn from it. nnn

CHARLES PONZI is one person who has lent his inglorious name to enrich our lexicon. He patented the classic scam of using money of new investors to pay off old investors for a handsome return, creating the impression of a successful

issue: The Chinese abandoned the Filipino fishermen after ramming their boat. According to the news, the Chinese hastened their desertion from where the incident occurred and left 22 Filipino fishermen in their sunken ship. This prompted Secretary Lorenzana to call for a formal investigation, as well as appropriate diplomatic actions, to prevent this kind of incident from recurring. According to Presidential Spokesman Salvador Panelo, whatever the reason of this incident, the Chinese should have prioritized helping the Filipino fishermen. Such negligence was a clear violation of the international maritime protocol to help distressed vessels and the people stranded in the ocean. The responsibility of saving lives at sea is contained in the Unclos, which said that it is the duty of captains of ships from any country to help anyone in need—without prejudice, friend or foe.

Foreign Secretary Teodoro Locsin Jr. said the act was intentional. It wasn’t “ramming” that occurred, but an allision—an occurrence where one mobile ship strikes a stationed boat.

If the China-Philippines relations are truly good, why didn’t those

investment. Despite the muchpublicized devastating experience of millions of investors in Ponzi schemes, it seems that we don’t run out of gullible people who fall prey to such duplicity. If 5 million people swear that it’s not a scam and that they have been receiving the promised returns without fail, who would not be enticed to part with their hard-earned money, mortgage their farmlands and sell their carabaos and their small fishing boats in exchange for a 30-percent monthly return? I’m pleased that our President is not buying this, and has in fact ordered the NBI and the SEC to take decisive actions to put a stop to this financial scandal that became newspaper headlines.

Our fervent hope is that the perpetrators of this recent fraud will be brought to justice, prosecuted and punished for their offense, if found guilty, and the poor victims, many of them OFWs who have labored hard away from their family for a meager wage, will be restituted for their losses. nnn

MY family feted me to a Father’s Day dinner in a Thai restaurant when an inebriated Dad who had obviously splurged on his one-day freedom in another table had attracted my grandson’s attention: “Lolo, what is an alcoholic?” he asked. “Do you see the two girls at the counter, grandson? An alcoholic would see four girls,” I explained. “But there is only one girl, Lolo.”

aboard the Chinese vessel try to save the Filipino fishermen? It was only a relief that there were Vietnamese fishing vessels near the place where the incident occurred and they helped our fishermen.

The Church may not have any particular social teaching about saving people whose lives are in danger at sea, but there are concrete examples that give value to life. In January, Pope Francis drove the leaders across Europe to help the migrants left at sea after being denied entry by Italy and Malta. The message of the Church is to help anyone whose life is in peril, whoever they may be.

Brothers and sisters, how many incidents like the collision in Recto Bank must occur for us to wake up to the truth that we are being harmed in our own yard? It was not an ordinary collision that occurred, and the government must take the necessary action to protect its citizens.

Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

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Friday, June 21, 2019 A11

Trump moves from trade Halfway through this year: A reckoning war toward currency war

By Shawn Donnan, Rich Miller & Katherine Greifeld

Tito Genova Valiente

Bloomberg Opinion

P

RESIDENT Donald J. Trump has already given the global economy trade wars. Now there are signs he may be gearing up for a currency war, too.

With a series of tweets on Tuesday aimed at the European Central Bank (ECB) and an announcement by Mario Draghi, its president, that he was prepared to cut interest rates further below zero in response to Europe’s slowing growth, Trump made a rare American presidential intervention into another economy’s monetary policy.

“Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others,’’ he tweeted. Later, he added: “German DAX way up due to stimulus remarks from Mario Draghi. Very unfair to the United States!’’

It was not the first time Trump has blamed currency manipulation overseas for a strong dollar that raises the cost of US exports. He has already become unique among recent American presidents in a shift away from the “strong dollar’’ policy of his predecessors.

By targeting Draghi directly and responding in real time to an overseas central bankers’ policy pronouncement, Trump was dialing up the heat—just as his own Federal Reserve was gathering in Washington to decide on rates in a decision expected on Wednesday. Coming just days ahead of a summit with other Group of 20 leaders in Japan, the salvo served to highlight his administration’s increasingly aggressive currency policies and the place he sees for them in his trade arsenal.

“They are preparing the ground, they are laying out the potential tools they may have at their disposal,’’ said Cesar Rojas, global economist at Citigroup Global Markets Inc., though he added “we’re not at a currency war just yet.’’

Finance ministers and central bankers this month agreed that a currency war—tit-for-tat push at times of slow economic growth to actively weaken foreign-exchange rates in order to boost exports— is in no one’s interest. They reaffirmed commitments made in March 2018 to refrain from competitive devaluations.

Last month the US Treasury increased the number of economies it scrutinizes to 21 from 12 and expanded its watch list from four to nine, adding countries such as Ireland, Italy and Singapore under new tougher criteria. It again refrained from labeling China a manipulator.

The Commerce Department on May 23 proposed allowing US companies to seek trade sanctions against goods from countries with “undervalued’’ currencies, though it said it did not intend to target independent central banks or their monetary-policy decisions. The administration has also been pushing to include currency provisions carrying the threat of sanctions in new US trade agreements.

There are plenty of economists who argue the US should take a more forceful approach to addressing currency manipulation by trading partners.

Some have even called for a 21st-century Plaza Accord, the 1980s agreement that saw countries including Japan agree to engineer a devaluation of the dollar under pressure from the Reagan administration.

Top priority

IN a paper released this week, Brad Setser, a former US Treasury official now at the Council on Foreign Relations, argued that “countering currency intervention by foreign governments should be a top priority of US international economic policy.’’

If nothing else, other countries’ manipulation hurts the US’s ability to use exports to recover following economic downturns, he wrote.

In an interview on Tuesday, however, Setser said that Trump’s ECB intervention was misplaced, largely because Draghi’s comments were aimed at domestic conditions.

“Most of the world recognizes that the ECB has failed to meet its inflation target and that with a slowing European economy there is pressure on the ECB to ease policy,’’ he said. Worse, Trump’s intervention could be seen as its own form of market manipulation, Setser said, and “feeds into a building narrative in Europe that the US is a rogue actor under a rogue president.’’

Trump has defied convention in a number of other ways, including his repeated criticisms of Federal Reserve Chairman Jerome Powell for raising interest rates. He asked White House lawyers earlier this year to explore his options for removing Powell as chairman.

Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics and another advocate of stronger US currency policy, said the world was in an “uneasy peace’’ over currencies with China and other G-20 countries having in recent years accepted a US push to refrain from competitive devaluations. In a June 6 note, Gagnon and a coauthor said interventions by countries to weaken their currencies to affect their trade balance fell in 2018 to the lowest level since 2001.

But the G-20 commitments are weak and “if there’s a global downturn, a global recession, countries would be very tempted to violate these terms and try to claim special circumstances,’’ he said. “There’s really no regime in place to sanction them or hit them, except the US might do something.’’

Trump may have some legitimate reasons to grumble. The “Big Mac” approach to gauging currency valuations shows the euro is about 15 percent too cheap. Since Trump launched his trade wars, China’s yuan has also fallen against the dollar, prompting the president to complain that it was undermining the impact of his tariffs and his efforts to raise pressure on Beijing.

Those currency moves are widely seen as related to the weakening of the European and Chinese economies and a global economy that is looking increasingly fragile thanks in part to Trump’s trade wars. The fear, however, is that Trump’s anger over the currency shifts could also help fuel further trade actions, including tariffs he has threatened to impose on imported cars and parts from the EU but put on hold for 180 days.

A drop below 1.10 for the euro-dollar rate could inflame Trump’s temper and make him more likely to impose those auto tariffs, according to Jens Nordvig, the founder of Exante Data LLC. The rate fell as low as 1.1181 on Tuesday after Draghi said additional stimulus may be needed and Trump levied his latest Twitter missive.

ANNOTATIONS

I

T is the sixth month of the year. We are halfway to salvation if one believes in the birth of a savior in the month of December.

Or, we may be heading to perdition if one subscribes to the belief of judgment at the end of everything.

Out there in the West Philippine Sea, islands are being claimed by another power; on the other side of this archipelago, a rise has not escaped the interests of the same power. Killings continue. Farmers are being murdered; labor leaders are annihilated. The civilians are anxious about the killings. One need not be an activist to realize that there are active and systematic ways by which critics of the government are silenced. If there is silence amid the chaos and mayhem, it is the government using the absence of words to create mindlessness.

Where words fluent bring about the harmony of the universe, it is the silence—eerie and treacherous—of those who should protect our territories that brings disorder to the order of things.

Not the commentary about what is good or bad, not the discourse on the legal and logical but the perished vocabularies, the inordinate volume of ignorance that condemn our country to perdition. And it is only June.

June is the right month to sail.

The monsoon is late; the waves are manageable by bravery and age-old knowledge about the seas. But nature is not the threat to the fishermen and other men and women who rely on the surroundings for living; it is the unnatural acquisition of resources, the barely legal diplomacies constructed by another power over the strength that should manifest over a land, an atoll, a reef.

And so it came to pass that one

night, when the waters around the reef allowed rest and solitude, a boat rammed the smaller fishing vessel.

The men who were asleep found themselves with the sea. It did not matter if the sea was West or of the Philippines, the human beings were in danger. The big boat, said to be a phantom boat for destruction, fled and disappeared. Some of our men paddled toward the light of the boat from another country, more human and humane, kinder and considerate despite the old differences.

The rest is a short history of a few bad things, if we are to borrow from the wild and wise cinema of Keith Deligero, the Cebuano filmmaker.

In that film, a story of revenge and politics take an absurd turn. Detectives rant and make clumsy decisions. The head of the investigating team changes the lighting design of his office and insists in speaking always in English. In short, here is a film that tells us our histories are rotten; we might as well make fun of them.

But that is cinema. The events happening in our country are social realities, not imaginations.

Like the twists and turns of a compelling film, the story of the fishermen assumed a crazy plot, with a head of state changing the lights around his palace and his men ranting in the wrong direction, with investigators committing crimes through ill-thought decisions, and the police nowhere to be found except where they were not needed.

The Associated Press & Capital News Service

O

VER 25 hours, one inmate begged for a doctor, screamed “help me,” tore a blanket into strips and then killed herself. A guard, nevertheless, reported in a log that all was fine.

Another inmate, locked up on a probation violation and suffering from mental illness, threatened to choke herself. A

guard told her to go ahead.

With suicides a problem in local jails across the US, a joint investigation by The Associated Press and the University of Maryland’s Capital News Service finds many jails have been sued or investigated in recent years for allegedly refusing inmates medication to help manage mental illness, failing to properly monitor them or ignoring cries for help.

Nationwide, jail suicide cases are leading to substantial settlements over faulty policies or neglect.

after mango rotted away by laws of gravity and time. Out of ignorance, I kept being bothered by the violence of the fruit’s death.

Then a soft wind started hitting our faces. Some of us noticed it. Don’t mention it, one with the voice of a high priest of climate, advised us with urgency. It may disappear. Somebody let out a long, tired whistle. The errant wind did not stop. It went on and the rains began. We moved to the gazebo and the drinking continued.

This morning, online news told me the fishermen had changed their reports. It seemed the government was well on its way to silencing any part of our universe, when they can.

Outside, near our old gate, as I was stepping out, I stopped. I could hear strong wild bird’s songs. They must be huge ones, I told myself. Were they leaving the forests and now making this cruel city their homes?

I looked up: They were the ordinary, brown birds, the tiny chirping beings we see and ignore every day, the kind that dies with the seasons and the rains. They are the birds whose songs we do not care to listen to.

It is June. We are halfway to the end. But if feels like an end already.

E-mail: titovaliente@yahoo.com

By 2050, what if we can’t see the forests or the trees?

M

By Kundhavi Kadiresan

OST of us are familiar with the saying that sometimes we “can’t see the forest for the trees.” But what if I told you, at our present rate of exploitation of our forests and depletion of our natural resources in Asia and the Pacific, that we run the risk of not seeing the forests or the trees by the middle of this century?

As a region, Asia and the Pacific has more people than any other part of the world and many areas within have very high population densities. As a result, nearly two-thirds of the forests in this region have been degraded to various degrees. Only 19 percent of primary forests remain (where human intervention has been minimal), compared with the global average of 32 percent.

So what will the future of our forests look like? Will we continue down this road or will we work together to improve things?

To get a better understanding of the way forward, the Food and Agriculture Organization of the United Nations (FAO) has just published a wide ranging and comprehensive review of the forest sector in the Asia-Pacific region. It examines trends from the last 25 years, the current state of forests and forestry, and provides an outlook for their future to 2030 and beyond up to 2050.

This report is unique because it

looks well beyond the horizon to what our forests could look like by midcentury. I say “could look like” because the mid-century predictions depend largely on the path we take through our forests in the coming years and decades.

The report, Asia-Pacific Forest Sector Outlook Study III, outlines some immense challenges ahead.

First, the population of Asia and the Pacific is expected to add another 500 million people by 2030, rising to 650 million more by 2050, when about two-thirds of the region’s populations are predicted to be living in urban areas. Second, the middle class is expanding in most countries.

On one hand, this increases demand for forest products and on the other, adds pressure to convert forest areas into agricultural land for a variety of uses such as animal production. These demands will add further pressure on natural resources such as soil and freshwater.

Many US jails fail to stop inmate suicides

By Sharon Cohen & Nora Eckert

I thought escapist films went the way of hot pan de sal and bell-bottom jeans! I am wrong. Each day those who rule this nation try to escape the real events transpiring. Their stories are different from ours. Those who believe in this government insist on their own stories that are not real and are not lucid.

When will the lucid intervals appear?

Last Monday, we crashed a drinking party at the hotel of the University of the Philippines. “We” means the critics—four of us—coming from a rehearsal in the nearby Film Center.

It was a fun and interesting group.

The noodles, as explained, were indeed good. The discussion was just right for that time, twilight. The air was humid; not even the tiniest leaves moved. It was hot. Like any Filipino, we took turns noticing the weather and how unpleasant and hot it was.

When it was darkening, we heard distant rumblings. Will it rain?

Every now and then, ripening Indian mangoes crashed with metallic, odd thud on the roof and awnings of the hotel. Unused to the sound, I thought someone was firing a gun.

Someone was being killed. I was profiling the place: This is the university, where activists and vocal critics are silenced not by some law but by guns.

The “guns” continued as mango

In Lake County, California, Elizabeth Gaunt, a 56-year-old former social worker, was jailed after acting erratically but never charged. Gaunt, who had mental health and substance abuse problems, was placed in a cell with a surveillance camera and was supposed to be checked every 15 minutes. She asked for a doctor and screamed for help, before using a blanket to hang herself. A guard who looked in through a cell window had a limited view of Gaunt, didn’t investigate what was

going on and noted in an observation log all was OK. Dane Shikman, Gaunt’s son, says his mother should have been taken to a mental-health center, not jail.

“It is a failure of humanity and of our institutions that causes these tragedies,” Shikman says. “When they see someone who looks like they’re struggling, they don’t say, ‘Let me step in. This is someone’s mom.’... They think this is a woman on drugs doing whatever she’s going to do, she’ll shut up.”

Already, the report finds, deforestation has, through the years, left the region with huge areas of secondary forests. While replanting is, of course, to be encouraged, the loss of biodiversity from disappearing primary forests is a major concern.

The report warns that business as usual will lead us down a path that no one really wants to travel, a dead end future where natural resources have been squandered and exhausted. It suggests a more aggressive move toward an integrated landscape management plan that systematically deals with improvements in all natural resource areas— landscapes, forests, soils, water—and benefits communities.

Innovations—making use of powerful new technologies—are needed for improved governance and management to cope with future demands on forests and landscapes, including those in urban and peri-urban areas.

Clearly there is a role for all of us to play. There is an urgent need for societies to reduce consumption, increasingly reuse instead of discarding, and sustainably produce biomaterials in forests. In short, we need to find innovative ways to balance competing demands that will benefit us all.

There are, however, reasons to be optimistic and they are worth mentioning. The rate of deforestation

has been slowing in recent years.

And, overall, big shifts in the way we interact with forests and landscapes are happening due to demographic changes, economic progress, technological advances, environmental awareness and improvements in governance. The traditional use of wood as a source of domestic energy is declining rapidly, due largely to increasing incomes, urbanization and the substitution of wood with electricity and LPG. The use of printing paper has declined as our society has shifted to online media and paperless workplaces.

To make sure our region maintains some of these good approaches and deals with some of the earlier mentioned challenges will take political will and cross-country cooperation of all stakeholders.

At the end of the day, if carefully managed, forests offer solutions to food insecurity, climate change, water scarcity and energy demands—but we will only take advantage of these if we take corrective action—and do so quickly. To ensure a positive and resilient future for everyone, we need to avoid going beyond the tree line.

The county settled a wrongful death lawsuit for $2 million.

Reporters spent months examining hundreds of cases in local news reports, reviewing investigations of specific jails, and compiling a database of more than 400 lawsuits over alleged mistreatment of inmates, most of whom were mentally ill. Some 40 percent of those lawsuits involved suicides in local jails —135 deaths and 30 attempts.

In about a third of those 165 cases, staff allegedly failed to provide pre-

scription medicines. Many inmates also weren’t checked regularly—usually every 15-30 minutes—because of staffing shortages or inadequate training. More than half the suicides or attempts occurred during the first week of being jailed, and about 80 percent of the inmates were awaiting trial. Some inmates were even given razors, despite warnings to staff that they might harm themselves.

These lawsuits represent a tiny fraction of the problem.

The author is assistant director general and regional representative for Asia and the Pacific, Food and Agriculture Organization of the United Nations.

2nd Front Page BusinessMirror

A12 Friday, June 21, 2019

www.businessmirror.com.ph

Land-area data gaps impact SC tax ruling T

By Cai U. Ordinario

@caiordinario

HE National Land Use Committee (NLUC) aims to address discrepancies in the computation of land areas being contested by the majority of local government units (LGUs) nationwide before 2022, according to the National Economic and Development Authority (Neda).

Neda Regional Development Office (RDO) Undersecretary Adoracion M. Navarro told the BusinessMirror that 71 percent of cities and municipalities are contesting their land areas, even after a nationwide cadastral survey conducted by

the Department of Environment and Natural Resources (DENR) Land Management Bureau (LMB).

Navarro said there is a need to resolve these concerns before 2022, given the Supreme Court’s final decision granting the petition of

Batangas Gov. Hermilando I. Mandanas to automatically release the internal revenue allotment (IRA) of LGUs. “The LMB’s land measurements are the result of the 2011-2015 nationwide cadastral survey program of the government. Since the LMB is the foremost expert in these matters, the national government must find a way of making the expert’s result acceptable to the LGUs. And it must do soon, especially because there will be a bigger pie for LGUs come 2022, given the Supreme Court’s final decision on the Mandanas petition,” Navarro said.

Navarro explained that a land area impacts LGUs significantly given that it helps determine the level of their IRA and revenue col-

No ham for Christmas in Year of the Pig? Traders nudge DA

By Jasper Emmanuel Y. Arcalas

I

@jearcalas

N the Year of the Pig, many Filipinos may have a ham-less Christmas. And if there would be one, it would be a “golden” ham, or quite expensive.

Importers and traders are appealing to the Department of Agriculture (DA) to resume the issuance of import permits for pork products from countries tagged as African swine fever (ASF) high risk—they reported no outbreaks yet but are contiguous with areas that already have.

The traders and importers said the suspension could result in limited pork supply, thus, pushing retail prices up.

The government and industry

sources told the BusinessMirror that the DA has suspended the issuance of sanitary and phytosanitary import clearance (SPS-IC) for pork imports from the Netherlands, Germany, France and Austria.

These four European countries have been deemed by the DA as high-risk countries since they share borders with territories that are already affected by ASF, such as Belgium and Hungary.

The DA defines high-risk countries as those that have not reported any ASF outbreak, but are at risk because they are contiguous with infected territories.

The Bureau of Animal Industry (BAI), which oversees the issuance of SPS-IC, started the suspension on May 29 following verbal orders from Agriculture

RIDGE OF HIGH PRESSURE AREA AFFECTING EASTERN SECTION OF LUZON as of 4:00 pm - June 20, 2019

Secretary Emmanuel F. Piñol.

Early this month, Piñol said he would propose to President Duterte a three-month importation moratorium on pork and pork products from high-risk countries.

This was an offshoot of the local swine industry’s proposal on May 27 of a two-month import moratorium.

The import moratorium, Piñol said, is a preventive measure aimed at ensuring stable food prices, as a decimated domestic hog population could accelerate inflation.

The DA will also use the threemonth time frame to strengthen its biosecurity measures against ASF by procuring x-ray machines and deploying meat-sniffing dogs in ports of entry nationwide.

See “Ham,” A2

lections, as well as shapes its politics, particularly during elections.

After the LMB’s cadastral survey, however, Navarro said 1,163 of the 1,634 cities and municipalities nationwide are contesting the survey results. She said these LGUs are contesting the results at the LMB. “If an LGU’s land measurement is different from the old one and DBM adopts the new measurement, the LGU’s IRA share will also be affected. Since the LGUs also have land-based revenue collections, a change in the measurements of their lands, once officially accepted, will also affect their revenue collections. The change will also affect the setting of political boundaries for various purposes, like election,”

Navarro explained.

In April, the Supreme Court maintained its decision which declared that the IRA share of all LGUs must be based on the collections of all national taxes, and not only from national internal revenue taxes collected by the government.

In its July 3, 2018, decision, the Court increased the IRA of LGUs to include the tax collection of other agencies aside from the BIR as basis for the computation.

It included tariff and duties collected by the Bureau of Customs, 50 percent of value-added tax, 30 percent of national taxes collected in the Autonomous Region in Muslim Mindanao, 60 percent of national taxes collected from the exploitation and development of national

wealth, 85 percent of excise tax from tobacco products, and a portion of franchise tax under Republic Acts 6631 and 6632 (Horse Racing Laws), among others.

The Court’s decision stemmed from the petition filed in January 2012 by former Batangas Second District Rep. and now Provincial Gov. Hermilando Mandanas.

The SC voted 10-3 to partially grant the petition of Mandanas, who had questioned the process of allocating IRA funds for the LGUs. Section 284 of Republic Act 7160, which created LGUs, stated that provincial, city and municipal governments should receive 40 percent of total national internal revenue taxes collected by the national government.

Neda tells DA to rethink pork import ban

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MPOSING a ban on pork imports from countries that were not directly hit by African swine fever (ASF) would be foolhardy especially now that the Christmas season is fast approaching, according to the National Economic and Development Authority (Neda).

At the sidelines of an advocacy forum sponsored by the European Innovation, Technology, and Science Center Foundation (EITSC), Socioeconomic Planning Secretary Ernesto M. Pernia told the B usiness M irror that now is not the time to think of selfsufficiency.

Agriculture Secretary Emmanuel F. Piñol, in a bid to protect the country from the entry of ASF which has the potential to wreak havoc on the local hog industry, moved to ban pork products, even from “high-risk countries.”

High-risk countries are those that are near nations that reported an outbreak of the dreaded hog disease.

“He’s [Piñol] always thinking about self-sufficiency but it’s not a good policy because there are always periods when supply is short relative to demand,” said Pernia, who is also director general of the Neda.

What the DA should prioritize, he said, is the temporary ban on countries that have been struck by the ASF and countries that import pork and pork products from affected nations.

This will help prevent any increases in prices, especially at a time when pork and pork products are in high demand.

For one, Noche Buena feasts are incomplete without the traditional Christmas ham. See related story, “No ham for Christmas in Year of the Pig? Traders nudge DA.” Christmas ham is part of the Department of Trade and Industry’s Noche Buena food list that is regularly monitored by the agency. The DTI even has a suggested retail price for ham owing to the fact that it is an integral part of the holiday feast.

The BusinessMirror ’s analysis of data indicated that Germany, the Netherlands and France, which may be covered by the proposed ban, accounted for 41.4 percent of the country’s total pork imports last year.

Pork imported from the three European countries reached 126,463.341 metric tons last year, with Germany accounting for 77,452.402 MT of the total volume. Piñol said the three-month ban gives the DA enough time to establish more stringent quarantine measures against the fatal hog disease.

The DA has ordered the deployment of 15 meat-sniffing dogs in major airports and plans to procure x-ray machines to complement efforts by the Bureau of Customs to avert the entry of meat products carried by passengers.

The agriculture chief said he would take full responsibility if the Commission on Audit flags the DA for its emergency procurement related to its ASFprevention efforts. Cai U. Ordinario

JUUL IS HERE An alternative to combustible cigarettes. That’s what tech company JUUL Labs is offering 1 billion adult smokers worldwide. The San Francisco-based firm launched operations in the Philippines on Thursday, with cofounder and Chief Technology Officer Adam Bowen (center) leading the rites in Taguig City. Joining him are Ken Bishop (left), JUUL Labs president for Apac South and Better for You Corp. President Nilo Mapa. See story on A2. NONIE REYES

EUROPEAN ENVOYS MAKE SURPRISE VISIT TO DAVAO

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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AVAO CITY—Organizers of the Davao Investment Conference, running on its fifth episode since 2011, said they were surprised by the appearance of the ambassadors of European countries when it opened here on Thursday, adding it indicated a radical shift in how Europe now looks at the Philippines.

“Apparently, individual European countries are looking at the business and investment opportunities of Davao more than what the EU parliament was looking at,” said Arturo Milan, president of the Davao City Chamber of Commerce and Industry.

He said the ambassadors are usually given invitations as in the past, but none would ever attend.

“This time they were also invited, but we were surprised and excited they were here.”

“To be specific about it, it’s the EU Parliament [that is critical of the human-rights record of the Philippines], but the European countries are taking an individual stance,” he said.

For instance, he said, the Netherlands has always been a traditional trading partner, especially with the cacao products from here for their chocolates.

Over the last three years of the Duterte administration, some EU members, such as Norway, visited the Philippines and went down further south in Davao City and clarified they continued to maintain their diplomatic ties with the Philippines.

“Their ambassadors are likely looking at the political side of their relations, and further evaluating their travel advisories on Davao City and the rest of Mindanao. It would

be good actually on our side because they would get the real and actual feel of the security situation of the place,” he added.

Those who came were Ambassadors Franz Jessen (European Union), Jozsef Bencze (Hungary), Saskia de Lang (Netherlands), Harald Fries (Sweden), Chargés d’affaires a.i. Mihai Sion (Romania) and Special Envoy to the EU Avelino Cruz. Organizers said there were 15 ambassadors and charge d’affaires, and more than 200 foreign businessmen and women.

Former DCCCII President and organizer of the event Dr. Ma. Lourdes G. Monteverde said the appearance of the ambassadors came at a time when there has been a discernible shifting of the centers and focus of world trading.

“There is the Brexit [British exit] in the European Union, the US-China trade war, and many are looking at Asia,” she said.

“Their presence in this Icon should be a big boost to Mindanao,” Milan said, citing the big strides in the economy of the city and in many areas in Mindanao.

He said it was important that they heard the city “telling all of us that despite their travel advisories, this city is one of the safest city in the world.”

Lemuel Ortonio, chief of the City Investment and Promotion Center, said crime volume has been down to only 2.5 incidents per 100,000 people. The city has 1.6 million residents, categorized as the country’s fourth populous urban center outside of three densely populated cities of Metro Manila.

“Investor groups such as those in Japan have been assured that Davao City is one of the safest places to put in their investments,” he said.

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

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

Companies BusinessMirror

Editor: Efleda P. Campos

Duterte approves devt plan for mid-level Pinoy worker

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By Bernadette D. Nicolas

@BNicolasBM

ILIPINO workers will soon be equipped with the necessary skills, knowledge and attitudes to stay competitive against the challenges brought by the Fourth Industrial Revolution as President Duterte approved a new comprehensive development plan for middle-level manpower.

Through the newly signed Executive Order 83, President Duterte has greenlighted the adoption of the National Technical Education and Skills Development Plan (NTESDP) 2018-2022 which envisions a “Vibrant Quality Technical Vocational and Education Training [TVET] for Decent Employment and Sustainable Inclusive Growth” to mobilize, galvanize and strengthen the sector

to attain global competitiveness and work force readiness, as well as social equity for work force inclusion and poverty reduction.

The NTESDP 2018-2022 shall serve as a blueprint of the TVET sector in coming up with responsive policies and implementing programs to support the broader goals and objectives of the national government.

Both the national government

agencies and local government units, as well as the private sector, are encouraged to adopt, disseminate and support the implementation of the plan, according to the EO signed on June 17.

The Technical Education and Skills Development Authority (Tesda) is specifically directed under Republic Act 7796 or the Tesda Act of 1994 to formulate a comprehensive development plan for middlelevel manpower based on a national employment plan for policy for the optimum allocation, development and utilization of skilled workers for employment entrepreneurship, and technology development for economic and social growth.

Middle-level manpower includes those who have acquired practical skills and knowledge through formal or nonformal education and training equivalent to at least a secondary education, but preferably post-secondary education with a corresponding degree or diploma and skilled workers who have become highly

Shakey’s to operate 20 new stores this year

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HAKEY’S Pizza Asia Ventures Inc., which owns the iconic American pizza brand in the country and some parts of the region, said it will open 20 new stores this year as it expands its store network outside of Metro Manila.

Vicente Gregorio, the company’s president, said the company will be opening more company-owned stores in the next few months.

About 70 percent of the company’s end-March network of 229 stores in the Philippines are franchised and the rest are owned by the company.

Overseas, it has three stores.

Last year it added 20 new stores in the local network.

“Most of the openings are outside Metro Manila where the ideal is to

identify and award it to the right franchise. We expect to open more company-owned [stores] in the next few months. We’re also talking to a couple of new markets. We opened a second United Arab Emirates store; a third is planned to be opened soon,” Gregorio said after the company’s stockholders’ meeting on Thursday.

Each Shakey’s store costs between P1.75 million and P2.5 million to put up, depending on the location and size, Gregorio said.

The company, in particular, is expanding its network more in Visayas and Mindanao, which only comprise 14 percent of the total network combined.

For its recently acquired Peri-Peri Chicken, it will focus on expanding

Dupasquier, The Net Group chairman, resigns from company

AGI ready to acquire firms for digital transformation of units

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ACQUES DUPASQUIER, chairman and cofounder of The Net Group (TNG), the country’s largest green building developer, said on Thursday that he has resigned as chairman, president and director of the company.

TNG is now part of the SM Group, which owns about 72.5 percent.

Over time, Dupasquier gave up his ownership of the physical assets to SM Investments Corp., but was still given a seat on the board of directors.

“However, as Dupasquier sits on the board while serving as chairman and major stockholder of the TNG Asset Management Co., and also the brand’s sole owner, he has started to feel a conflict of interest,” an e-mailed statement said.

“He believes that the companies’ current vision and values are no longer aligned with his, and that of the brand he built,” it said.

Dupasquier, along with partner Carlos Rufino, pioneered in 1999 what they called a boutique information-technology office building concept in the country with their string of “Net” brand of buildings in Bonifacio Global City, including Net One Center, Net Square, Net Cube, Net Quad, Net Plaza and Net Lima.

TNG claims to have the biggest office developer in Bonifacio Global City with 54.5 percent of the gross leasable office in the area. Its buildings are currently occupied by Fortune 500 companies and prominent corporations like JP Morgan Chase, Deutsche Bank, GE, Intel, Oracle, Ericsson and Quisumbing Torres (Baker and McKenzie).

Dupasquier is a French Filipino whose family also owns a string of boutique hotels in Europe. VG Cabuag

A

LLIANCE Global Group Inc. (AGI), the investment holding firm of businessman Andrew Tan, on Thursday said it is ready to acquire a platform or even companies to help carry out its five-year digital transformation program, forcing its units to adapt technological changes that affect its businesses.

AGI said these include innovations on smart home technology for its real-estate businesses, ecommerce, logistics, transportation, property technology, as well as customer service management.

“This program allows us to study our existing technology across all businesses, and assess where we can further enhance them and achieve innovative solutions. This will also give us the opportunity to look for other new technological innovations, platforms, and companies where we can invest in, in order to support and improve our current business operations and, at the same time, make them profitable businesses on their own,” said Kevin Andrew L. Tan, the company’s CEO. AGI said it will form a core group, composed of representatives from its various companies, to come up with projects and share best practices.

Last year, Megaworld had its own initiative that encompasses

the brand locally and will not yet bring the brand overseas.

“We just took over this brand and we’re still studying its details. We already know it would take slightly less to put up a Peri-Peri compared to a Shakey’s store. We intend to open just company stores for the moment so we’re still determining the right number,” Gregorio said.

“We could not say at this point what would be the final number for that. We want to make sure it’s fair and workable,” he added.

Shakey’s, owned by the Po family, also hopes to keep its double-digit growth for the year amid improvement in margins. In 2018 the company’s margins grew faster than sales and revenue. VG Cabuag

innovation in design, home technology, smart mobility and even environmental sustainability, among others.

Brandy maker Emperador Inc., meanwhile, has already upgraded its facilities and technology in making liquors, including those used in its vineyards in Spain, and in its distilleries in Scotland. It is also pursuing the development of e-commerce platforms for its consumer products.

Travellers International Hotel Group Inc., Tan’s gambling arm and the operator of Resorts World Manila, is working on further enhancing its mobile application which can be used to book restaurant and hotel reservations. It is also working on enhancing the monitoring and operations of its gaming and hotel facilities through the use of data analytics.

Golden Arches Development Corp., which holds the exclusive McDonald’s franchise in the country has also rolled out its own innovations, such as the self-ordering kiosks, modernized menu boards and card payment acceptance.

“Part of the program is to be able to partner with relevant providers and technology-makers. Our vision is to make each company become ready for the future of business in the next 10 years,” Tan said. VG Cabuag

competent in their trade or craft as attested by industry.

Under the new EO, Tesda is also ordered to ensure that all skills and development programs and schemes conform with the objectives of the NTESDP 2018-2022 and all skills training and development are aligned with the Philippine Qualifications Framework and all instituted national standards.

Moreover, Tesda is also mandated to monitor the plan’s implementation and conduct a periodic assessment to evaluate its efficiency and effectivity.

Semiannual reports must also be submitted by Tesda through the Department of Trade and Industry to the Office of the President on the implementation of NTESDP 2018-2022.

The funding for the implementation of the newly approved plan shall also be sourced from appropriations intended for the skills development and training programs of Tesda, and respective budgets of concerned national government agencies.

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Loti to build ₧1.2-B oil depot in Pangasinan

By Lenie Lectura @llectura

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ABRADOR, Pangasinan—Labrador Oil Terminals Inc. (Loti) is investing P1.2 billion to put up an oil depot here to cater to the supply requirements of independent oil firms.

The oil terminal will have a capacity of 88 million liters and will be constructed in two phases.

Phase 1 will have a capacity of 28 million liters and will be finished in February 2020. The second phase, a 60-million liter facility, is being eyed for completion in June 2020.

Loti, a Filipino firm, broke ground on Thursday morning its oil terminal in Barangay Uyong.

“The Labrador Oil Terminal seeks to cater to the needs of the oil industry players in northern Luzon and serve as a viable alternative to Subic and Bataan. Once it operates, the terminal is projected to have a significant impact in the region in terms of making the operations of the independent oil traders and distributors more cost-efficient, thus making the market more competitive,” said Jack Tan, Loti chairman, during the groundbreaking ceremony.

At present, most of the fuel deliveries in Region 1 and 2 are withdrawn from the Ports of Subic and Bataan. The completion of the terminal will bring the oil companies and consumers closer, thus helping lower the cost of fuel.

Tan said pump prices could be cheaper by P0.80 to as much P1 per liter if oil firms, such

as Gulf Oil, Regas and Centrum, store their fuel requirements in Loti’s depot.

“Loti saw the need to level the gap of fuel prices and sufficiency, especially in the provinces since most of the storage facilities in the country are confined in the major ports near the bigger cities which resulted in a significant issue in fuel costs as freight is variedly higher and is normally passed on to consumers,” Tan said.

Besides, the terminal, which sits on a twohectare property, is strategically located along a national highway on one side and the Lingayen Gulf shoreline on the other. The property has been declared as an industrial zone and will be equipped with safety and environmentally compliant structures.

The facility will have above-ground storage tanks that can accommodate 88 million liters of fuel oil, submarine pipeline and platform jetty with a distance of 3.5 kilometers from the shore.

The jetty can accommodate large vessels with a maximum GRT of 60,000 dead weight tons.

It will store, distribute, market and/or blend fuel products that will cater to the needs of consumers in Regions 1 and 2. Cities and provinces in northern Luzon have a projected monthly consumption of about 40 million to 50 million liters.

“As a new industry player, Loti supports the promotion of the downstream oil industry by upgrading the downstream infrastructure and updating the country’s oil supply through the establishment of an oil stockpile,” Tan added.

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Vivienne picking key people to help run PAL

By Ma. Stella F. Arnaldo

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Special to the BusinessMirror

HE new leadership at pioneering flag carrier Philippine Airlines (PAL) is currently choosing key people who will help in the transition from the administration of President and COO Jaime J. Bautista.

Lucio “Bong” Tan Jr., vice chairman of PAL and younger brother to Vivienne Tan—recently appointed as officer-in-charge of the airline upon the retirement of Bautista—said his sister is “slowly” choosing the people who will help her run the airline.

Siegfred Mison, SVP for Legal,

according to a source familiar with the goings-on at the airline, is among those chosen by Vivienne to help her manage the airline. Mison, former Immigration Commissioner, is the son of Salvador Mison, president of Basic Holdings Inc., also a Lucio C. Tan company.

Sources said in the past few months, airline officers identified with Bautista had either been sidelined, let go, or asked to resign. Among them are Ismael Augusto “Nicky” Gozon, SVP Operations; former EVP and treasurer Stewart Lim; VP for Ancillary Business Kevin Hartigan Go, AVP for Corporate Audit Babyruth Chuansu, and Chief Customer Experience Officer Jessica Abaya.

The same sources said the turnover’s handling sparked controversy, even as rumors floated that a “super audit” supposedly uncovered questionable deals under Bautista’s watch.

This was quickly denied by Tan Jr. in a text message to the BusinessMirror: “Wala naman.

(There was none.) He is due for retirement naman few years back pa. We were just delaying it. Age

might have caught up and I think he wants to enjoy some time with his family. His cute apo (grandson) is growing up na very fast.”

Tan Jr. stressed, “Jimmy is an honest man. And he has done a great job in PAL, and in all the companies he has joined in the LT Group of Companies. It will be hard to replace such talent.”

During Bautista’s watch, PAL got its hard-earned status as a four-star airline. And, on the day the news broke about Vivienne’s appointment as OIC, Bautista was in Paris receiving on behalf of PAL the prestigious Skytrax award for “Most Improved Airline.” (See “PAL is 2019’s Most Improved Airline in the World—Skytrax,” on the BusinessMirror, June 18, 2019) Astro del Castillo, managing director of First Grade Finance

Inc., a finance and investment company said: “Since PAL is still considered a Lucio Tan-owned company, it is expected that the children take over, and Vivienne has a long experience managing a corporation. I’m sure she will find professional help to give her a better grasp of what can be done for PAL to improve it better, especially since the airline is aggressively expanding.”

Bautista had spent some 26 years with PAL, 12 of which as its president and COO. He is mainly credited with turning around the company from one under rehabilitation by the Securities and Exchange Commission (SEC) to a formidable airline. Lucio Tan is said to have personally prevailed on Bautista to abandon his first retirement and return to PAL in 2014. Like many legacy carriers

though, it struggles against the rising cost of aviation fuel and lower fares offered by low-cost carriers. Last year, it posted a net loss of P28 billion, though this is 38 percent lower than the loss in 2017.

Bautista told BusinessMirror late Tuesday evening that he had submitted his application for retirement “last month”. He added, “My retirement will be formally accepted on Monday (June 24) during the board meeting. I will formally retire on June 30, but if the turnover of the office is done earlier, I can just take a terminal leave.”

On Thursday, Bautista was all smiles, seated beside Vivienne and Mison at a farewell lunch tendered in his honor. A photo of the moment was captured by Mison and posted on his Facebook account.

Cementaid’s new warehouse to generate jobs in Laguna C EMENTAID Philippines Inc. is set to generate a 27-percent increase in manpower with the inauguration of a newly expanded warehouse adjacent to its manufacturing plant in Barangay San Antonio in San

Pedro, Laguna.

This equates to approximately 40 new jobs for the Laguna community. The construction of the 470-square-meter facility was prompted by the increased demand for concrete admixtures along with

the robust growth of the construction industry over the last decade, said Rodillo dela Pasion, senior manager for Cementaid Philippines and Indonesia. “We’ve seen a significant increase in demand for quality concrete waterproofing

products as infrastructure continues to be a high priority in public works,” dela Pasion said. “We take this as an opportunity to expand our manufacturing capacities and better serve not just our customers, but our community, as well.”

A 64-percent increase in sales is further projected following a planned enhancement of retail products, said Manuel Gamis, national sales manager of Cementaid Philippines. “We are always looking at different ways to improve the quality of our products and services as we continue to push for reliable concrete.”

The firm has also recently part-

MUTUAL FUNDS

nered with four new distributors to serve Davao, Palawan, Bacolod and the Ilocos region.

Cementaid International pioneered a type of permanent water proofing admi xture called Hydrophobic Pore-blocking Ingredient (HPI) that prevents the absorption of moisture and helps maintain the structural integrity of concrete.

The Australia-based firm first set foot in the Philippines in 2010 with a subsidiary in Parañaque City, Metro Manila. Cementaid Philippines later moved to a 2,000-square-meter manufacturing plant in San Pedro, Laguna, to

June 20, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 266.96 6.07% 0.21% 1.41% 5.84% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6282 9.22% 8.3% 3.1% 13.01% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1331 3.85% 0.17% 0.56% 5.9% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9478 7.5% N.A. N.A. 6.43% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8845 8.57% N.A. N.A. 7.77% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5211 7.42% 0.8% 1.21% 4.74% MBG EQUITY INVESTMENT FUND, INC. -A 120.72 10.53% N.A. N.A. 3.66% ONE WEALTHY NATION FUND, INC. -A 0.8885 5.72% -3.86% N.A. 6.74% PAMI EQUITY INDEX FUND, INC. -A 52.8869 9.24% 1.15% N.A. 7.48% PHILAM STRATEGIC GROWTH FUND, INC. -A 550.31 7.78% 0.2% 1.31% 6.91% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3406 9.81% 1.97% 3.84% 6.91% PHILEQUITY FUND, INC. -A 39.3253 9.94% 2.73% 3.37% 7.35% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0608 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3648 10.3% 2.1% 3.64% 8.19% PHILIPPINE STOCK INDEX FUND CORP. -A 895.8 10.34% 1.81% 3.62% 8.12% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9351 9.95% 1.06% N.A. 8.58% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3793 10.15% 2.02% 2.86% 7.89% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0294 9.78% 1.74% N.A. 7.87% UNITED FUND, INC. -A 3.7816 9.42% 3.7% 3.4% 8.01% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 119.9291 10.79% 2.76% 4.69% 8.29% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$0.9772 -8.5% 6.26% -0.22% 5.18% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2859 -1.38% 9.14% N.A. 16.36% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7505 6.1% -0.92% -0.94% 6.01% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3301 3.95% 0.38% 0.98% 5.47% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6722 5.35% -0.09% -1.14% 5.05% GREPALIFE BALANCED FUND CORPORATION -A 1.3629 3.58% N.A. N.A. 4.49% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9457 6.54% 0.88% 1.64% 5.57% PAMI HORIZON FUND, INC. -A 3.7625 6.38% -0.2% 0.89% 6.61% PHILAM FUND, INC. -A 16.9325 7.18% -0.06% 0.91% 6.44% SOLIDARITAS FUND, INC. -A 2.16 5.39% 1% 2.11% 4.23% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.902 8.31% 1.02% 1.88% 6.86% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0231 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.022 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0189 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0011 8.57% 1.3% N.A. 8.61% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03718 7.12% 1.43% 1.98% 5.48% PAMI ASIA BALANCED FUND, INC. -A $0.9667 -6.51% 3.45% -1.09% 3.26% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7242 1.18% 6.66% 2.61% 12.57% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1018 2.63% 4.13% N.A. 9.09% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 349.73 3.39% 2% 2.2% 1.85% ATRAM CORPORATE BOND FUND, INC. -A,1 1.891 1.91% -0.18% -0.24% 1.71% COCOLIFE FIXED INCOME FUND, INC. -A 3.0468 5.59% 5.3% 5.28% 2.56% EKKLESIA MUTUAL FUND INC. -A 2.1809 3.06% 1.18% 1.84% 2.37% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3071 4.07% 1.02% 1.36% 4.43% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6059 2.19% -0.95% 0.05% 2.65% PHILAM BOND FUND, INC. -A 4.1529 5.24% -0.1% 1.07% 5.95% PHILEQUITY PESO BOND FUND, INC. -A 3.6741 5.31% 1.39% 1.49% 4.46% SOLDIVO BOND FUND, INC. -A 0.9391 3.91% -0.31% N.A. 5.21% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9488 7.72% 1.68% 2.05% 6.61% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6392 7.72% 1.28% 1.6% 6.45% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $457.68 3.5% 1.88% 2.75% 2.1% ALFM EURO BOND FUND, INC. -A Є217 1.97% 1.47% 1.45% 2.05% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1797 6.18% 1.82% 2.46% 4.79% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 3.64% 1.2% N.A. 3.23% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7151 1.2% -1.35% 0.69% 1.47% PAMI GLOBAL BOND FUND, INC -A $1.0834 4.7% -0.17% -1.91% 4.41% PHILAM DOLLAR BOND FUND, INC. -A

$2.3329 9.04% 1.34% 3.17% 7.45% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0587678 3.6% 1.42% 1.71% 3.14% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0668 6.32% 0.62% 2.67% 6.78% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.35 3.66% 2.38% 1.91% 2.08% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0141 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2119 3.76% 1.65% 1.02% 2.54% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2428 3.63% 2.62% 2% 1.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0274 2.1% N.A. N.A. 1.13%

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.

further meet the country’s fastgrowing demand for concreteenhancing products.

The inauguration was attended by the company’s distributor in Cebu, LSB General Manager Anthony Lim, as well as key industry players in the local construction market such as DM Consunji Inc.; Makati Development Corp.; and Monocrete Construction Philippines Inc. Top structural and architectural firms also attended, including Sy^2 + Associates Inc.; RCHITECTS Inc.; CASAS+ Architects; Edward Co Tan + Architects; H1 Architecture; WTA Architecture and Design Studio; and Mañosa & Co.

Oscar Reyes joins TeaM Energy board of directors

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HE board of directors (BOD) of TeaM Energy Corp. (TEC) recently elected Oscar S. Reyes to fill up the vacant seat in the company’s board effective June 1, 2019. The directors are composed of nominees from the company’s owners, leading Japanese firms JERA and Marubeni, and independent director, retired Chief Justice Artemio V. Panganiban.

John V. Alcordo, TeaM Energy chairman and CEO, said Reyes’s decades of experience in the energy industry will further boost the company’s position as a leading provider of reliable and costeffective electricity.

“With Mr. Reyes onboard, we fortify our mission to be the nation’s growth partner by generating power that supports the country’s development. The addition of Mr. Reyes to our board will also push the development and execution of the company’s growth plans,” he said.

Reyes was President and CEO of the Manila Electric Co. from May 2012 to May 2019 and Senior Executive Vice President and Chief Operating Officer from July 2010 to May 2012. Prior to joining Meralco, he served from 1997 to 2001 as Country Chairman of the Shell Companies in the Philippines, and concurrently President of Pilipinas Shell Petroleum Corp. and Managing Director from 1997 to 2004 of Shell Philippines Exploration, operator of the Malampaya Deep Water Natural Gas Facilities for the Malampaya Consortium. He likewise served in the boards of directors of other leading companies from 1999 up to this time.

TeaM Energy is the single-largest Japanese investment in the country with over 2,000 megawatts (MW) of installed generating capacity in Luzon. It operates two coalfired power plants: the 735-MW Pagbilao Power Station in Quezon Province and the 1,200-MW Sual Power Station in Pangasinan.

It also has a 50-percent stake in the 420-MW Pagbilao Unit 3 Power Project in Quezon, and a 20-percent stake in the Ilijan natural gas project in Batangas.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

National savings growth slower in 2018 at 4.4%

T

By Cai U. Ordinario

@caiordinario

HE growth of the country’s total savings slowed to 4.4 percent in 2018, according to the latest data released by the Philippine Statistics Authority (PSA) on Thursday.

PSA data showed total savings of corporations, households and the national government reached P4.44 trillion in 2018, slightly higher than the P4.25 trillion posted in 2017.

Savings growth in 2017 was significantly higher at 10.2 percent from the total savings of P3.86 trillion in 2016.

The highest share of savings came from “Nonfinancial Corpora-

Auckland: Inspiring Esprit de Corps

C

ONTINUING on last week’s column on the Tourism New Zealand-hosted Asian association familiarization (“famil”) tour program from May 25 to 30, 2019, the second leg of our trip took us to the vibrant harbor city of Auckland and surrounding areas.

Auckland is the most populous urban area in the country with a population of around 1.6 million (as of June 2018) and is governed by the Auckland Council. It is a diverse, multicultural and cosmopolitan city, and home to the largest Polynesian population in the world. The Maori language name for Auckland is “Tamaki Makaurau” which means “a maiden desired by 100 lovers,” referencing to its fertile land at the hub of waterways in all directions.

According to the Auckland Tourism, Events and Economic Development, an Auckland Council organization, the city is an ultimate natural playground and a thriving business and innovation hub, providing a multitude of world-class facilities for association MICE (meetings, incentives, conferences and exhibitions) events.

Landing in Auckland from Christchurch, it is noticeable that the city is in a construction boom. Our driver said Auckland is literally a “crane city” and counted over 90 crane machines atop new buildings in construction.

Near the Sky City Grand Hotel where we were billeted is the brand-new New Zealand International Convention Centre set to open in October 2020.

We got a preview of the NZICC during dinner at the Sugar Club located at the 53rd floor of the Sky Tower, the tallest freestanding structure in the Southern Hemisphere and the 25th-tallest tower in the world.

The next day, we visited the conference venues of the Cordis Hotel at the heart of Auckland’s lively uptown area; the Auckland War Memorial Museum where a Maori cultural group welcomed us with songs and dances; the refurbished Aotea Civic Centre for events of 20 to 2,000 people; the Hilton Hotel at the waterfront; the Auckland Zoo, a 16.35-hectare, 875+ animal zoological garden; and the Auckland Art Gallery. Yes, even the museum, the zoo, and the art gallery have conference facilities!

The following day was a two-hour drive to Hamilton, a city in the Waikato

Association World Octavio Peralta region of New Zealand’s North Island where we visited the Zealong Tea Estate, the only commercial teaproducing estate in the country and then to Matamata for a fun visit to the Hobbiton, the scene where The Hobbit and the Lord of the Rings movies were filmed. Yes, both the tea estate and the movie location have conference facilities, too!

The last day of our program afforded us to attend “Meetings 2019,” New Zealand’s largest business events industry tradeshow, where we met with MICE venue and service suppliers, a visit to Villa Maria, New Zealand’s most awarded winery for over 30 years, which among others, has a conference facility, too. Finally, before departing New Zealand, we visited Novotel Auckland Hotel for another site inspection and briefings from Christchurch and Auckland airport authorities.

Reflecting from our experience, I was definitely inspired—inspired by the leadership esprit de corps of the national and local governments, its agencies like Tourism New Zealand, and private organizations, all working together and heading in one direction—to attract international events to New Zealand. Kudos, Kiwis!

The contributor, Octavio Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap), Founder and CEO of the Philippine Council of Associations and Association Executives (PCAAE) and President of the Asia-Pacific Federation of Association Organizations (Apfao).

The purpose of PCAAE—the “association of associations”—is to advance the association-management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board (TPB), and the Philippine International Convention Center (PICC).

Email: obp@adfiap.org

tions” at 57.6 percent. This was followed by “Financial Corporations” at 28.5 percent.

Other sectors such as “General Government” accounted for 11.3 percent and “Households” including Non-profit Institutions Serving Households” (NPISH) at 2.6 percent.

In terms of contribution to gross domestic product (GDP, the PSA said “Nonfinancial Corporations” continued to account for the highest share at 51.5 percent in 2018.

This was followed by households including NPISH at 32.7 percent; “Financial Corporations” at 8.3 percent; and “General Government” at 7.5 percent.

The PSA’s report came from the

DOF vows to push legislative agenda in 18th Congress

By Rea Cu

T

I

al financial market conditions and the external stability of Indonesia’s economy in considering a cut in the key policy rate in line with low inflation and the need to push domestic economic growth,” the governor said.

After six interest rate hikes last year, Bank Indonesia is proceeding more cautiously to avoid destabilizing its currency. The rupiah was one of the worst performers last year amid an emerging-market rout, triggered by rising US interest rates and a stronger dollar.

Still fragile

@ReaCuBM

HE Department of Finance (DOF) vowed to push for the passage of what it considers priority measures by “working closely” with the 18th Congress.

Finance Secretary Carlos G. Dominguez III said he is currently reorganizing DOF personnel so it could assign more full-time directors and staff to engage with lawmakers on a weekly basis, with the goal of ensuring that the Legislative and Executive branch could “mutually move ahead in passing laws to sustain high growth, attract more investments, create more jobs and achieve financial inclusion for all Filipinos.”

“Together, we can ensure the sustainability of the high and inclusive economic growth rate we enjoy today,” Dominguez said during a forum on Tuesday. “The matter is in your hands.”

The DOF chief said among the measures that the Duterte administration will push for swift approval in the 18th Congress are the remaining tranches of the Comprehensive Tax Reform Program (CTRP).

These include reforms on reducing the corporate income tax (CIT) and rationalizing fiscal incentives; reforming the property valuation system; rationalizing capital income taxation; imposing additional taxes on alcohol products; increasing the government’s share from mining operations; enacting a fair general amnesty law that also covers lifting bank secrecy rules in fraud cases and the adoption of the automatic exchange of information with treaty partners for tax purposes.

“Completing this [tax] reform will further secure our fiscal stability and help fulfill our shared goal of a decent and comfortable life for all law-abiding Filipinos,”

Indonesia’s CB signals rate cut coming as reserve ratio eased NDONESIA’S central bank signaled it’s ready to cut interest rates in coming months after adding stimulus to the economy by easing reserve limits for banks.

Bank Indonesia left its seven-day reverse repurchase rate at 6 percent on Thursday, as predicted by 28 out of 35 economists surveyed

by Bloomberg. The primary reserve ratio for commercial and Shariah lenders was lowered by 50 basis points from July 1 and is expected to add 25 trillion rupiah ($1.76 billion) in liquidity to the banking system.

Central banks in the region from India to New Zealand have eased monetary policy in recent weeks amid worsening global growth prospects and an escalating US-China trade war. The US Federal Reserve also signaled on Wednesday its willingness to cut.

Gov. Perry Warjiyo told reporters in Jakarta on Thursday that policy-makers will cut rates, but it’s considering “the timing and the magnitude.” Global financial market conditions and Indonesia’s balance of payments were two key factors that would determine a move, he said.

“Bank Indonesia keeps monitoring glob-

“Consolidated Accounts and Income and Outlay Accounts” compiled by the PSA annually. The Consolidated Accounts present a summary of transactions and relationships among the various flows of the economy at current prices.

Included in the report were the production, consumption, income, gross accumulation and economic transactions with the rest of the world.

Meanwhile, the “Income and Outlay Accounts” are compiled for the four institutional sectors, namely nonfinancial corporations, financial corporations, general government and households including the NPISH.

CHARU CHANANA, an economist at Continuum Economics in Singapore, said it was prudent for the bank to wait given heightened market volatility caused by an escalating USChina trade war.

“Risk appetite is still fragile due to the slowing global growth and current-account deficit concerns, and we believe Bank Indonesia will be very cautious with its moves,” Chanana said.

The bank is likely to start easing in the third quarter, with space for 75 basis points of rate cuts over the next year, she said. Bloomberg News

Dominguez said.

He added that the Foreign Investments Act, the Retail Trade Act and the amendments to the Public Service Act are also included in Duterte’s legislative agenda for the next Congress. The latter formally opens on July 22.

In the forum hosted by representatives of various political parties, the finance chief described the outgoing 17th Congress as “most productive.” The legislative body is credited with helping pass the Tax Reform for Acceleration and Inclusion or TRAIN law, the Universal Health Care program, a new “sin” tax reform law that imposed higher taxes on tobacco products and the law liberalizing rice imports.

The finance chief also noted that while the President signed several measures in the 17th Congress, he also had to veto bills that would have been detrimental to the country’s fiscal position.

“These included 147 bills that would have eroded revenues by P178 billion annually or mandatorily add P799 billion to the budget outlay, representing a cumulative financing impact of P977 billion—clearly something we could not afford at this time unless we halt the infrastructure modernization program and return to stagnation,” he said.

“These will clearly pull away funding for the poor and undermine the country’s fiscal position.”

Dominguez also explained that 31 other bills were proposed by lawmakers to create more tax-free free ports or ecozones, “all contributing to massive leakages,” in the 17th Congress.

“We do not think [that] this is how we should do policy,” he added.

“We hope the incoming legislators will find a better way to help localities prosper than the simplistic method of giving away taxes our people need.”

Friday, June 21, 2019

B3

Fed scraps patient approach, signals readiness to cut rates T HE Federal Reserve signaled it was ready to lower interest rates for the first time since 2008, citing “uncertainties” that have increased the case for a cut as officials seek to prolong the nearrecord US economic expansion.

While Chairman Jerome Powell and fellow central bankers left their key rate in a range of 2.25 percent to 2.5 percent on Wednesday, they dropped a reference in their statement to being “patient” on borrowing costs and forecast a larger miss of their 2 percent inflation target this year.

“My colleagues and I have one overarching goal, to sustain the economic expansion,” Powell told a press conference following the decision. He noted that apparent progress on trade talks had “turned to greater uncertainty” and many Fed officials “now see that the case for somewhat more accommodative policy has strengthened.”

The shift followed attacks on the Fed by President Donald J. Trump for not doing more to bolster the economy and Tuesday’s report by Bloomberg News that the president asked White House lawyers earlier this year to explore options for demoting Powell from the chairmanship.

Asked about the criticism, Powell said he thinks “the law is clear that I have a four-year term and I fully intend to serve it.”

US stocks rose after the decision and Treasuries erased losses.

Yields on benchmark 10-year Treasuries fell to 2.03 percent. Fed funds futures priced in increased odds of a rate cut at the July meeting and investors now see around 74 basis points of easing by the end of the year.

Powell ducked a question on whether the Fed would ease by as much as a half-percentage point, if it decided to act. But he acknowledged there was merit in the argument that a central bank should move decisively when its policy rate is already close to zero.

“An ounce of prevention is worth a pound of care,” Powell said. “That is a valid way to think about policy in this era” of nearzero rates, he said.

The pivot toward easier monetary policy shows the Fed swinging closer to the view of most investors that Trump’s trade war is

slowing the economy’s momentum and that rates are too restrictive given sluggish inflation.

The Federal Open Market Committee (FOMC) said in a statement that in light of increased uncertainties and muted inflation pressures “the committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion.”

The FOMC vote was not unanimous, with St. Louis Fed President James Bullard seeking a quarterpoint rate cut. His vote marked the first dissent of Powell’s 16-month tenure as chairman.

Officials were starkly divided on the path for policy. Eight of 17 penciled in a reduction by the end of the year as another eight saw no change and one forecast a hike, according to updated quarterly forecasts.

Political shadow

TRUMP’S attacks on the Fed risk casting a political shadow over whatever policy decision the Fed makes, though Powell and his colleagues say they’re focusing only on the economic goals Congress gave them.

Powell declined to comment directly on the president’s public criticism of the central bank, but said the Fed is “deeply committed to carrying out our mission” and that its independence from politics is an “important institutional feature that has served the economy and the country well.”

In the statement, officials downgraded their assessment of economic activity to a “moderate” pace from “solid” at their last gathering. They also noted “growth of household spending appears to have picked up from earlier in the year” and that indicators of business fixed investment “have been soft.” They repeated that the labor market “remains strong.”

Recent US economic data have been mixed. Consumer spending held up in May but job gains were disappointing, and some gauges of business sentiment have cooled on uncertainty around the outlook for trade. The Fed remains bedeviled by inflation continuing to undershoot the central bank’s 2 percent target despite unemployment being at a 49-year low. Bloomberg News

B4 Friday, June 21, 2019

YOUNG CREATIVES SET TO JOIN CANNES INTERNATIONAL FESTIVAL OF CREATIVITY

T REJOICE, CORDILLERA! SM City Baguio celebrated art and culture commemorate on Independence Day! This year SM City Baguio presented a 6-foot wire sculpture depicting the Cordilleran cultural dance of pride and freedom. On top of the high mountains, the Cordilleras stand firm and strong symbolizing their strength in protecting themselves and their lands from colonizers. The Cordilleras are proud and free, dancing with their hands lifted up. This gesture is part of every Cordilleran cultural performance.

NEW SCHOOL YEAR PHOTOGRAPHY COURSES AT FORT SANTIAGO

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OR the new school year the Federation of Philippine Photographers Foundation (FPPF) continues its role of supporting photography enthusiasts in the Philippines. Photography lovers converge in the historic Fort Santiago in Intramuros to learn photography as a hobby while others as a profession.

The basic photo course, known as comprehensive digital photography, is for enthusiasts who want to learn photography as a hobby, while special courses are for professional photographers who wanting to be more competitive in the profession.

For beginners, there is a shared lesson plan to acquire the basic skills of operating a camera.

For corporate employers, there is a shorter time of teaching how to come up with nicely composed pictures.

For professional photographers, there are special courses for them to enhance further their knowledge and be truly a professional.

The FPPF has trained and dedicated photo staff who will unselfishly share their knowledge and expertise in photography.

The five-Saturday basic photo course starts on July 20. For special courses, lighting essentials will be on June 22 and 23, and wedding on June 29 and 30. For further information, visit www.photoworldmanila.com.

MERALCO AWARDED AS A.S.E.A.N. CORPORATE GOVERNANCE SCORECARD TOP PERFORMER

WO young creatives are about to embark on an adventure of a lifetime as they are set to represent the Philippines in the Young Lions Competitions of the prestigious Cannes International Festival of Creativity, to be held at the eponymous city of Cannes, on the scenic French Riviera.

Ali Sadsad and Nori Hernandez of Publicis JimenezBasic will go to France this month to duke it out with other young creatives from around the world.

The two were chosen by the Association of Accredited Advertising Agencies (4As) Philippines Creative Guild to represent the Philippines after they competed against other teams from agencies in the country to create a campaign that entices the youth to volunteer for the Parish Pastoral Council for Responsible Voting (PPCRV). “...Cannes Lions has always been the biggest stage and the global benchmark for creativity in advertising, and to put our skills to the test against other young winners from around the world is exciting and also a bit nerve-racking,” Sadsad said.

The campaign that Sadsad and Hernandez developed is called “Volunteer’s Ink”, inspired by the trend of millennials posting images of their fingers with indelible ink as a badge of honor. The two thought of a campaign where the Filipino youth can show that, aside from voting, they can do much more through volunteering for the PPCRV and taking part in the organization’s goal to ensure the integrity of the elections.

“Having both the Voter’s Ink and the Volunteer’s Ink is something they can proudly flaunt on social media. Yes, having the Voter’s Ink is great because it means

you’ve voted. But you know what’s better?

Also having the Volunteer’s Ink means you volunteered and did your part in protecting the Filipinos’ votes,” Hernandez said.

The 4As Creative Guild of the Philippines and the PPCRV were impressed with the concept that Sadsad and Hernandez created. In fact, the two were recognized at the Kidlat Awards—the country’s premier event where Filipino creativity, innovation and ingenuity are celebrated and honored—held on April 26.

“The work of Ali and Nori prove that Filipino creativity is truly worldclass,” said Merlee Jayme, chairman of the Creative Guild of the Philippines.

“We are very excited for them to show their skill for the whole world to see. It is specially inspiring that this caliber of creativity is being displayed by such young minds. It reassures us that the Philippine advertising industry will be

in good hands.”

Aside from Sadsad and Hernandez, another creative duo will wave the Philippine flag high—this time in Singapore—for the Spikes Asia 2019 Festival of Creativity. Alexa Remalante and Renzo Valmonte of Dentsu Jayme Syfu will head to Suntec in Singapore in September.

For more information, Like and follow the 4As Philippines (https://www. facebook.com/4AsPhilippines/) and the Creative Guild of the Philippines (https:// www.facebook.com/creativeguildph/) on Facebook.

In photo with Sadsad (second from left) and Hernandez (third from left) are Bryan Siy, vice chairman of the Creative Guild of the Philippines; and Merlee Jayme, chairman of the Creative Guild of the Philippines at the Kidlat Awards held on April 26.

SAY ‘I DO’ TO A NEW RIDE FROM HYUNDAI!

I I

N recognition of its commitment toward good corporate governance and responsible management practices, the Manila Electric Co. (Meralco) was named Top Performing Philippine publicly listed company under the Asean Corporate Governance Scorecard (ACGS). Meralco was awarded a 4-Arrow recognition by the Institute of Corporate Directors (ICD) at the ACGS Golden Arrow recognition ceremony held on June 11 at the Conrad Manila.

Meralco is among the only six companies in the Philippines that are awarded with a 4-Arrow recognition. The Golden Arrow is given to top-performing publicly listed companies (PLCs) as reflected in their ACGS score from the ICD 2018 domestic assessment. ICD Chief Executive Officer Dr.

Alfredo E. Pascual congratulated the top-performing PLCs and encouraged them to continue in developing excellent corporate governance programs and practices for the benefit of the investors, other stakeholders and the country.

The night was a celebration of the achievements of 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.

In photo are Meralco Senior Vice President and head of Legal and Corporate Governance Office lawyer William S. Pamintuan (center) accepting the award for Meralco from Pascual (left) and Aquino.

H.I.D.C. OPENS IN SALINAS, CAVITE Caviteños don’t have to spend much money and to travel away from their barangay just to have first-class diagnostic services and medical consultation, with the opening of High Integrated Diagnostics and Wellness Center (HIDC) in Tanza, Rosario and Salinas. At the HIDC Salinas grounbreaking are Dr. Rico Abella, medical director; and Dr. Mariflor Gamat, general physician. Together with them are (second row, from left) Michael del Rosario from Mayor Ricafrente’s office; Jayson Pacheco, HIDC business development officer; and Nethel Abad, also from the mayor’s office.

N the Philippines, June is the month when most couples take the next step in their relationship. The abundance of “June brides” has made the month the perfect time for weddings, upping the chances for the best rates and schedules, so couples can achieve the wedding of their dreams.

Whether you’re getting married or not, you can still feel merry for the month of June by achieving the ride of your dreams. It’s possible with Hyundai’s “Here Comes The Ride” promo that offers the sweetest deals for a brand new Hyundai Tucson, the all-new Accent, the new Santa Fe, the Grand Starex, the Kona and the H-100...minus the stressful financial commitments!

“Here Comes The Ride” is giving you the chance to say “I Do” in becoming a

brand new Hyundai owner—thanks to great discounts and affordable financing schemes that may come in low monthly or down-payment deals, and even affordable initial cashout rates.

If you’ve been dreaming of blazing through the streets in your own Tucson, you can now get it for an initial cashout of only P46,200. The new Santa Fe and the grand Starex can make your family trips sweeter and more luxurious with up to P100,000 discount. If you want a partner that’s full of style and substance, the all-new Accent can be yours for as low as P8,776 a month.

Business-minded folks who are looking for a reliable workhorse that won’t quit on them can get the H-100 for as low as P13,864 a month, while those who have the thirst for adventure can stand

out and lead the race with the Kona for as low as P13,330 a month.

Now is the time to take your goals to the next level and get going in the journey you desire. Get the Hyundai of your dreams by heading to your nearest authorized Hyundai dealership today, and make motoring bliss a reality with Hyundai’s Here Comes The Ride promo!

This June promo is made possible by Hyundai Asia Resources Inc., the official distributor of Hyundai passenger vehicles in the Philippines, in partnership with BPI, RCBC, Chinabank Savings, Eastwest Bank, UCPB, and MayBank.

Promo runs from June 5 to 30 only.

So, hurry to the Hyundai dealer nearest you to know more about the exciting offers! Per DTI-FTEB Permit No. 9208, series of 2019.

INSULAR FOUNDATION AIDS IN BRIGADA

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O help public schools provide a conducive learning env i ronment for st udents, Insular Foundation extended support to 16 public schools nationwide, through the Department of Education’s Brigada Eskwela.

The Foundation donated around P230,000 worth of paint and other construction materials for seven public schools in Metro Manila, six schools in nearby prov i nces i n Lu zon, and three schools in the Visayas.

T he beneficiar y schools in Metro Manila are Itaas Elementary School, Alabang E l e m e nt a r y S c h o o l , Bayanan Elementar y School, Pedro E. Diaz High School and P ut at a n E lement a r y School in Muntinlupa C it y ; Fou r t h E st ate Element a r y Sc hool

Marcelo Green in Parañaque City; and Malabon Elementary School.

The foundation also conducted financial-literacy sessions at Santa Anastacia San Rafael National High School in Tanauan, Batangas; Tambo Elementar y School in Lipa Cit y, Batangas; San Pablo Central School in Laguna; and Lusacan Elementary School

in Quezon province.

This year’s support for Brigada Eskwela also involved Insular Life’s local offices for Balibago Primero Integrated School in Pampanga; Imelda Integrated School in Nueva Ecija; Soob Elementary School in Leyte; and Canduman National High School and Zapatera Elementary School in Cebu.

TOKYO 2020: MOST

POPULAR OLYMPICS? C1

Sports

| Friday, June 21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BusinessMirror

TOKYO resident Yuuma Sakai takes photos of his wife, Hiroyo, with the Olympic rings set up near New National Stadium in Tokyo. AP

T

By Stephen Wade The Associated Press

OKYO—Want tickets for next year’s Tokyo Olympics? Prepare to be let down.

Millions were disappointed starting Thursday when applicants in a ticket lottery—for Japan residents only—began learning if they landed tickets. The answer is going to be overwhelmingly—no. The same will be true for residents outside Japan who could experience a similar dejection: too much demand and too few tickets.

This was not the case at the last several games—the 2018 Winter Olympics in Pyeongchang and the 2016 Summer Olympics in Rio de Janeiro—when tickets were given away and volunteers were often summoned to fill empty seats for the television cameras. At times, there were too many empty seats to fill.

“This is probably going to be the most popular Olympics, and possibly one of the most popular events of all time,” Ken Hanscom, the chief operating officer of TicketManager, told The Associated Press in an interview.

His Los Angeles-based company does not buy or sell Olympic tickets, but manages tickets for corporate clients, several of which are major Olympic sponsors.

Hanscom said he follows ticketing patterns for every major event and estimates that 80 to 90 percent of Japan residents who applied for tickets could get nothing.

“I’m interested in seeing what the reaction is and how the organizing committee addresses this,” Hanscom said. “It’s good news for the demand, and bad news on the ticket side and the public.”

Tokyo’s organizing committee was unable on Thursday to say how many Japan residents got tickets, and it’s unclear if—or when—it will disclose the overall numbers. Organizers will run a second ticketing phase where the odds will probably be even worse.

Japanese media immediately began reporting about disheartened fans. A completely unscientific AP survey of a few fans showed one ticket awarded in 15 application attempts. The millions who failed got this message in e-mail from Tokyo organizers.

“Thank you for your interest in purchasing Tokyo 2020 tickets. The demand for tickets was incredibly high, and unfortunately, you were not awarded any of the tickets you requested in the lottery.”

Simple math explains the supply and demand crunch.

Tokyo organizers say that 7.5 million residents of Japan registered to apply for tickets through the lottery system. Extrapolating from the 2012 London Olympic lottery, Hanscom estimates that Tokyo organizers may have received 70 million to 85 million individual ticket requests. This could be at least 10 times more than what’s available. Maybe more.

Organizers estimate there are 7.8 million tickets for all Olympic events, but 20 to 30 percent of those are for distribution outside Japan where buyers could face the same problems and end up paying more.

Buyers outside Japan must get tickets from Authorized Ticket Resellers, companies appointed by national Olympic committees. They were authorized to begin sales on Thursday.

The reseller for the United States is CoS port, which also handles sales in Australia, Jordan and several European countries. Cartan is the reseller for much of Latin America, including Mexico.

Resellers are allowed to charge a 20-percent handling fee on every ticket. They can also use a generous currency exchange rate, and often package desirable tickets with top hotels that charge way over the usual going rate during the Olympics.

Ticket prices for buyers in Japan vary greatly and are listed in the competition section on the organizers’ web site.

The opening ceremony on July 24 features the most expensive ticket—¥300,000 ($2,700).

The most expensive ticket for the closing ceremony is ¥220,000 ($2,000).

Even with the soaring demand, many venues could still wind up with hundreds of empty seats that are typically set aside for International Olympic Committee officials, corporate sponsors, and local dignitaries. Often they don’t show up while angry fans line up outside without tickets.

“I expect there will be a problem in Tokyo,” Hanscom said. “The industry figure is that 40 percent of tickets that sponsors buy go in the trash,” he said. He said the problem was acute for the Olympics and World Cup. “Every Olympics you have a new group of people running ticketing,” he said. “And you have new technology. So you’re always scrambling to put the process together.”

Even athletes could have a tough time landing many tickets for family members and friends.

All athletes can get two tickets for each session

in which they compete. These tickets are sold by the organizing committee to national Olympic committees for distribution. For swimming, it’s only one. In addition, some national Olympic committees pass on added tickets to athletes.

“The United States Olympic Committee has confirmed it will continue its program of supplying Team USA athletes with two complimentary tickets for each event they compete in,” the USOC told AP in a statement. The USOC said this was in addition to tickets coming from the organizing committee.

Hanscom pointed out that “many countries don’t make the same gesture, and many athletes who qualify late have added problems.”

Given the shortage, scalping is sure to be a big problem, as it is at every Olympics and soccer World Cup. The ticketing system for the Olympics and soccer’s World Cup is murky, allowing for abuse, anger and confusion, with tickets often appearing in the hands of high-ranking officials.

Three years ago at the Rio de Janeiro Olympics, International Olympic Committee member Patrick Hickey of Ireland was arrested on suspicion of ticket scalping. He is suspended from the IOC, but remains a member and has denied any wrongdoing. This was not the first time that a high-ranking member of the IOC or Fifa—soccer’s governing body—was implicated in profiteering on the black market.

Hanscom predicted a “vibrant secondary market” will appear despite a law that went into force a few days ago in Japan that prohibits ticket scalping with the penalty of a ¥1-million ($9,100) fine and a one-year jail term—or both.

However, the law has a large loophole and does not apply to tickets distributed for free or given away as gifts, or tickets without a purchaser’s name. This could apply to many tickets coming from the IOC, the 200 national Olympic committees, or some major Olympic sponsors.

Local Japanese Olympic sponsors have paid over $3 billion in sponsorship fees, and also sure to get a slice of tickets before they hit the public market.

“What I always say is that tickets are temptation,” Hanscom said. “It’s going to be challenging to enforce sales that happen internationally. I would expect there to be a large market that’s outside the rules and regulations. These types of rules are not going to constrict the biggest brokers who have been doing this for 20 years.”

CENTER OF ATTENTION

ZION WILLIAMSON doesn’t seem caught up in the hype, seeing himself more as a team player than a franchise savior. AP

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EW YORK—Zion Williamson smiled his way through nearly half an hour of questions, trying to portray himself like any player just hoping to be drafted.

Suddenly, a tall, thin newcomer pushed his way to the front of the shoulder-to-shoulder swarm surrounding Williamson and shot down that idea.

“What does it feel like,” Duke teammate RJ Barrett asked, “to be the best prospect since LeBron James?”

Williamson has similar hype. Soon, he can start showing if he has the game to match.

The powerhouse power forward will almost certainly be doing it in the uniform of the New Orleans Pelicans, who hold the No. 1 pick on Thursday night at Barclays Center in Brooklyn.

National Basketball Association (NBA) teams are discouraged from announcing who they will pick, and the Pelicans confirmed nothing to Williamson when he visited recently.

“They just told me that maybe they’ll draft me and I’m a good player or something,” Williamson said.

Maybe?

It would be one of the biggest surprises anyone in the NBA conjured up in years if the Pelicans passed on a player whose combination of size, speed and skill calls to mind James and few others. Listed at 6-foot-7 and 285 pounds, Williamson averaged 22.6 points and 8.9 rebounds while shooting 68 percent from the field and joining Kevin Durant and Anthony Davis as the only freshmen to be voted national player of the year by The Associated Press.

His sledgehammer slams were good for college, but Williamson wants to be known for more than his above-the-rim game in the pros. In fact, he isn’t eager to take part in the Slam Dunk Contest.

Instead, he’s been improving his three-point shot, and Duke coach Mike Krzyzewski noted that Williamson was previously a perimeter player before bulking up and becoming a force around the basket.

“He’s still only 18 years old,” Krzyzewski said on his SiriusXM radio show. “And as good of an athlete—he’s a top percentile athlete in the world, not just in the game of basketball. He’s that level of young man.”

No wonder Pelicans fans are so eager to get him. Williamson said he found New Orleans to be welcoming when he walked around the city, and the locals should love him even more now after the team agreed over the weekend to trade Davis to the Lakers to play with James.

“The city seems very excited if I come there,” Williamson said.

Memphis has the No. 2 pick and an apparent opening at point guard for Murray State’s Ja Morant after agreeing to trade Mike Conley to Utah on Wednesday. Barrett is hoping he’ll go to the New York Knicks with the third pick, and whoever lands at No. 4 is set to be Williamson’s teammate because the Lakers included the pick in the package for Davis.

Teams drafting beyond that should feel confident about their chances for success after a season in which the Toronto Raptors won the NBA title with a roster featuring no lottery picks, and Giannis Antetokounmpo emerged as an MVP finalist after being taken with the No. 15 pick in 2013.

So, drafting smart seems more important than drafting high.

Still, the seasonlong attention on Williamson dwarfed nearly everything else, so all eyes will be on him on Thursday night as he walks onto the stage to greet Commissioner Adam Silver. Williamson called himself a simple guy, so maybe he won’t wear the type of flashy suit that it is the usual draft-night dress code; the striped sweater he wore on Wednesday was certainly plain enough. AP

Spo

Business

C2 Friday, June 21, 2019

By Doug Ferguson

IN this June 2, 2019, file photo, Jeongeun Lee6 of South Korea chips to the 16th green during the final round of the US Women’s Open golf tournament in Charleston, South Carolina. AP

The Associated Press

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HASKA, Minnesota— The Ladies Professional Golf Association (LPGA) Tour gets its crack at Hazeltine National, the course with a recent history of surprising outcomes.

This is where Rich Beem, a former car stereo salesman, held off a charge

by Tiger Woods in the 2002 PGA Championship. It’s where Y.E. Yang became the only player to come from behind and beat Woods in the final round of a major at the 2009 PGA Championship.

It’s where the Americans actually won a Ryder Cup in 2016.

Hazeltine also is an example of how much the second-oldest major in women’s golf has risen in stature since the LPGA Tour and Professional Golfers’ Association (PGA) of America became partners to stage what is now the KPMG Women’s PGA Championship.

“The magnitude of this event has gone up so high, and it’s neck and neck with the USGA [United States Golf Association] and US Open,” said Danielle Kang, who won the Women’s PGA two years ago at Olympia Fields, the course south of Chicago where Walter Hagen and Jim Furyk won majors. “It’s just when you get here and people talk so much about the golf course. ‘Oh, you’re going to play Hazeltine.’ They talk it up so much.”

And now it’s time to play it.

The field is the strongest of the year for the LPGA, with 99 of the top 100 on the money list. Sung Hyun Park won last year at Kemper Lakes (where Payne Stewart won the PGA Championship in 1989).

The PGA of America has set it up at 6,741 yards on the card—long

by LPGA standards—with plans at least once this week to play the signature 16th hole—with a green

SHOWTIME AT HAZELTINE

that extends into a lake—at 240 yards as a reachable par 4.

“I think it’s actually harder as a drivable par 4 because you’re putting the water into play a bit more on the right side,” Nelly Korda said. “So I think that’s going to be a really cool hole and see how people play that down the stretch on Sunday.”

For the fifth straight year, KPMG staged a women’s leadership summit designed to inspire young women in the corporate world.

Among the speakers this year was former Secretary of State Condoleezza Rice, soccer star Mia Hamm and executives from Target and Bank of America.

It sets up as a big week in a big year for the LPGA Tour, with the Solheim Cup scheduled for Scotland in September.

And being at Hazeltine makes it feel bigger.

“The name is obviously a big deal, I think more from a fan perspective and the attention of it that the guys have played here and people are familiar with this golf course,” Stacy Lewis said. “But it’s a property... you drive here and it feels big, from the clubhouse to the range to the practice areas. It feels like a major championship, and that’s ultimately what we wanted to do.”

When this LPGA Tour and PGA of America relationship began, the major was taken to Westchester, Sahalee, Olympia Fields and Kemper Lakes, all courses known to the golfing public from men’s majors or big events. Next up is Aronimink and Congressional, two more storied courses that add to the cachet.

“I think like any major championship, it’s going to test everything that you’ve got mentally and physically—shot making,

everything—especially around here,” said Brooke Henderson, whose victory last week in the LPGA Meijer Classic gave her a record nine LPGA titles by a Canadian.

Lately the LPGA majors have been more wide open regardless of where they’re played.

Ten women have won the last 10 majors dating to Kang’s victory in the Women’s PGA at Olympia Fields.

Ko and Henderson are the only multiple winners this season.

One of them is Jin Young Ko, who is No. 1 in the women’s world ranking and won the first major of the year at the ANA Inspiration.

Jeongeun Lee6—known as “Six” because she added the numeral as the sixth player on the Korean LPGA with that name—won her first American title at the US Women’s Open three weeks ago.

The last time South Koreans won

PGA inks new 10-yr sponsor

WORLD No. 112 Kristyna Pliskova pulled an upset over her identical twin and ranked No.3 Karolina in the Birmingham Classic on Wednesday. AP

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ONTE VEDRA BEACH, Florida—The Professional Golfers’ Association (PGA) Tour has signed a 10-year umbrella sponsorship deal for its developmental tour that provides the best path to the big leagues.

Los Angeles-based Korn Ferry takes over immediately from Web.com.

The Korn Ferry Tour is the seventh name of the tour since it began in 1990 as the Ben Hogan Tour. What doesn’t change is the top 25 players from a regular-season points list, and 25 players from a three-tournament postseason series, earn PGA Tour cards.

The postseason series is now called the Korn Ferry Tour Finals, and Korn Ferry has agreed to be title sponsor of the final event in Indiana.

The developmental tour has produced alumni such as Justin Thomas, Jason Day, Bubba Watson and Zach Johnson. AP

López dismisses links to tennis match-fixing

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ONDON—Tennis player Feliciano López has denied any wrongdoing after being linked by Spanish media to a doubles match at Wimbledon in 2017 that was allegedly fixed.

López said on Wednesday at the Queen’s Club tournament in London, “I feel it is extremely important to come to you and absolutely deny any link with the events described in relations to the allegations of match fixing.”

Spanish online newspaper El Confidencial reported earlier this week that a match played

by Feliciano López and doubles partner Marc López at Wimbledon two years ago had been mentioned in a phone conversation by a former soccer player who is being investigated as part of a match-fixing probe in Spanish soccer.

According to El Confidencial, Carlos Aranda said that he knew the Lopez pair would lose a certain match, which they did. The report does not say that the tennis players were involved or that they threw the match.

Feliciano López said that he and Marc López had contacted the Tennis Integrity Unit, a competition watchdog in the sport, to say they would “fully cooperate.” AP

the first three majors of the year was in 2013, when Inbee Park won them all.

Hazeltine also hosted a pair of US Opens and US Women’s Open, the last one in 1977 when Hollis Stacy beat Nancy Lopez. Inbee Park won the last LPGA major in Minnesota down the road at Interlachen in the 2008 US Women’s Open.

Hazeltine is a different test—big and mighty, with rough that is lush but playable.

“Coming in here I’m always so excited because the venues are so historic and so many great memories from them from other events,” said Henderson, who won her Women’s PGA at Sahalee, site of Vijay Singh’s first major. “They’re amazing golf courses. They always play long and I think being one of the longest hitters on the tour that can kind of be an advantage.”

UPSET IN 1ST GAME OF PLISKOVA TWINS

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IRMINGHAM, England—The first meeting of identical twins in Women’s Tennis Association (WTA) Tour history ended with an upset as Kristyna Pliskova overcame a ranking gap of more than 100 places to beat Karolina at the grass-court Birmingham Classic on Wednesday.

Kristyna, ranked No. 112, won 6-2, 3-6, 7-6 (7), against her No. 3-ranked sister from the Czech Republic.

It was their first match against each other in the main draw of a WTA event, and the 10th meeting of sisters on the tour.

Kristyna won their first-ever meeting, at the Malta International Tennis Federation (ITF) junior tournament as 14 year olds, and has edged ahead 6-5 in their head-to-head record in competitive matches.

The match was decided by a third-set tiebreaker in which both of the 27-year-old sisters made untimely double faults.

Karolina fell behind 6-5 with a double fault, but Kristyna replied with one of her own to make it. At 7-7, Karolina once again double faulted to give Kristyna another match point and this time the left-handed player didn’t waste it to wrap up the match

in just under two hours.

Ashleigh Barty won her first match since capturing her first grand slam at the French Open, beating Donna Vekic, 6-3, 6-4.

Barty said she does not feel any extra pressure with her new status.

“For me, nothing changes,” the Australian said. “It was an incredible fortnight of tennis that we had without a doubt and some of the best memories of my career will come from those two weeks. But I’m still the same person. I’m still the same Ash Barty and I try and prepare the same way.

“I feel like, if anything, it’s taken the pressure off. I can just go out and enjoy it.”

Barty could face Venus Williams in the quarterfinals, after the American marked her debut at the tournament with a 6-3, 6-4 win over Aliaksandra Sasnovich.

It is only the second time in 20 years that Williams has played a Wimbledon warm-up event.

Jelena Ostapenko won back-to-back matches for only the second time this season, knocking out home favorite Johanna Konta, 6-3, 6-4.

In London, Juan Martin del Potro could

be in doubt for Wimbledon after withdrawing from the Queen’s Club grass-court event because of a right-knee injury on Wednesday.

The 12th-ranked del Potro beat Denis Shapovalov, 7-5, 6-4, in the first round but finished the match with pain and swelling in his right knee after slipping near the net in the eighth game of the second set.

The Argentine player underwent tests after the match, with organizers later confirming his withdrawal.

Wimbledon starts on July 1.

Milos Raonic, the sixth seed, returned from a back injury to fire down 24 aces in a 6-3, 6-2 win over Marco Cecchinato.

Rain washed out the entire day’s play on Tuesday and more showers Wednesday have prevented two first-round singles matches—Feliz Auger-Aliassime vs. Grigor Dimitrov and Nick Kyrgios vs. Roberto Carbales Baena—from starting yet. AP

DE LA SALLE T

By Rick Olivares

HE De La Salle University (DLSU) Green Archers are moving on to the finals of the Filoil Flying V Preseason Cup after squeaking past Lyceum of the Philippines University (LPU), 82-80.

From a 78-all tie at the 3:49 mark, DLSU’s Justine Baltazar hit two free throws to give his team a twopoint lead with 2:53 to play. Lyceum had three chances to notch the count once more but they flubbed three consecutive point-blank shots—the last by Jayson David whose ill-advised finger roll clanged off the basket.

La Salle’s Ralph Cu tacked on a free throw, 81-78, but LPU’s Raymar Caduyac redeemed an earlier mistake by scoring on a drive to trim the deficit to one point with 1:07 left.

After Justine Baltazar missed a shot, LPU had a chance to take the lead but Caduyac flubbed his lay-up.

Green Archer swingman Encho Serrano was fouled in the ensuing play and the sophomore trooped to the free throw line where he split his charities; missing the back end, 82-80.

David grabbed the defensive board and high-tailed it down but missed an open three-point attempt at the buzzer to send the La Salle fans into a frenzy.

“We expected a tough game with LPU even if they were missing some players,” noted DLSU Head Coach Gian Nazario. “Their small lineup gave us problems but luckily, we were able to get the job done.”

The Pirates were missing centers Mike Nzeusseu

Rosal maintains 2-

A

BE ROSAL toughened up at the backside and saved a 36 for a 75 as he stormed to a two-stroke lead over erstwhile coleader Rolly Viray and a rallying William Houng-Lee of New Zealand in the second round of the Philippine Seniors and MidAmateur Open Championship at Mount Malarayat Golf and Country Club in Lipa City, Batangas, on Thursday.

Rosal actually yielded the lead to Viray with a 39 start and a bogey on the 10th but the 2017 champion fought back with a birdie on the par-5 14th and parred the rest to wrest control at 151 heading to the final 18 holes of the annual event for the country’s leading golfing seniors organized by National Golf Association

PAGUNSAN STOR

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UVIC PAGUNSAN failed to cash in on a switch in times but kept his game on all throughout as he fired a bogey-free 66 to surge ahead by one over a hot-charging James Ryan Lam as Japanese Yudai Suzuki slipped with a 74 in the second round of the rich ICTSI Negros Occidental Classic in Bacolod City on Thursday.

With erstwhile leader Suzuki turning from awesome (64) to awful and Jhonnel Ababa throwing away three strokes on the par-5 No. 18 and ending up a 68, the hometown hero took his familiar spot on top with a 36-hole aggregate of eight-under 132 as he kept his game on a competitive level while attending to his ailing wife.

“It’s a day-to-day struggle. Hati pa rin ang focus ko. I just hope to do better in the last two days,” said Pagunsan, who nipped reigning Philippine Golf Tour (PGT) Order of Merit winner but absentee Jobim Carlos on the second playoff to win this event last year.

But as Suzuki and Ababa fumbled and stumbled in hot conditions, Lam came out of nowhere to assume the challenger’s role at 133, spiking his fiery 64 with seven birdies, including two in the last four at the front nine.

It was a big surge for Lam, who placed last in Club Filipino de Cebu Invitational and missed the cut in last week’s Bacolod Classic. After an opening 69, the former PGT Asia leg winner at Luisita hit three birdies at the back then picked up strokes on the first two holes at the front. He took his first bogey on the fifth but birdied the sixth and eighth to threaten Pagunsan.

Zanieboy Gialon, winner here in 2012, also moved into contention with a 67, pooling a 135 for joint third with Pete Vilairata of the US, who also shot a three-under card, while Japanese Ryui Hashimoto took over from Suzuki with a 136, also after a 67, in a tie with Nilo Salahog, who also

Enriquez, Tangub to

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YDNEY ENRIQUEZ and Eric Tangub imposed their will and fashioned out a pair of twin title feats as the Zamboanga bets shared the Most Valuable Player honors in the PPS-PEPP Alamada national age-group tennis tournament at the Alamada Tennis Club in Cotabato, recently.

Enriquez, 16, powered her way past three rivals in shutout fashions then trounced Angel Denopol, 6-2, 6-3, in the finals to rule her age bracket. The Salug, Zamboanga del Norte star matched that romp in the premier 18-U division then overwhelmed Zykla Cervantes, 6-3, 6-0, in the championship to cap another strong showing in the Group 2 tournament presented

by Dunlop.

Tangub also turned in a solid outing in boys’ play of the tournament that served as part of the Mindanao swing of the

orts

sMirror

Friday, June 21, 2019

C3

E ADVANCES TO FINALS and Jerwin Guinto, forward Yancy Remulla and guard, Jaycee Marcelino.

Justine Baltazar tallied a double double of 22 points and 22 rebounds. “He’s our MVP [most valuable player],” underscored Nazario of his precious center. Encho Serrano added 20 points while Jordan Bartlett chipped in 12.

LPU had Enoch Valdez and Jeff Santos leading their scoring parade with 15 points each. Jayson David added 13 points and 12 rebounds while Raymar Caduyac finished with 10.

“We had our chances,” succinctly pointed out

by LPU Head Coach Topex Robinson as his Pirates bowed out of the competition. “Sayang. But I’m proud of the way we battled it out until the end.”

“We dodged a bullet,” summed up Nazario.

La Salle is at 7-2 while Lyceum finished their summer stint also with a 7-2 slate.

Over at the high-school division, Nazareth School of National University and San Beda University turned back separate foes to advance to the championship round of the Juniors division.

The NU Bullpups took control in the third period to send the Lyceum of the Philippines University Pirates packing with a 100-87 win in the semifinals at the Filoil Flying V Centre in San Juan.

The San Beda Red Cubs on the other hand, prevailed of the University of Perpetual Help System Dalta Junior Altas, 97-82.

NU survived an early barrage of triples from LPU where four straight long bombs were hit by Mark

-shot lead in Lipa of the Philippines.

Viray, who matched Rosal’s opening 76, surged ahead by two with a 38 and a par on No. 10 but bogeyed three of the last eight and hobbled with a 77, dropping to second at 153 in a tie with HoungLee, who mixed two birdies with the same number of bogeys to put in the tournament-best 72.

Defending champion Abe Avena, Tommy Manotoc and Zaldy Villa all shot 80s as they shared fourth place at 158 with Singapore’s John Howard McKean and Mari Hechanova assembled identical 159s after an 80 and 82, respectively.

Santos, Jearolan Omandac, and Mac Guadaña for a 36-29 lead.

The Bullpups responded with three consecutive lay-ups by Reinhard Jumamoy, Harley Alarcon, and Echo Laure to reduce the deficit to one right before the half time break. And just like that, the stacked and loaded NU Bullpups were back in the game.

Drawing firepower throughout their line-up, NU seized control in the third, 75-61, before pulling away in the end for their sixth straight win in the tournament.

Terrence Fortea led five NU in double digits with 23 points. Carl Tamayo added 19, Gerry Abadiano finished with 14, Janjan Felicilda and Alarcon chipped in 13 and 11 respectively.

Mac Guadaña scored 23 points for LPU with John Barba adding 18 points and nine boards. Gyle Montaño scored 17 while Omandac’s 12 points all came from triples.

Like NU before them, San Beda broke away in the late second period with points coming from Yukien Andrada, Wilmar Oftana, and Justine Sanchez.

Andrada and Sanchez each finished with a double double with the former posting 19 points and 13 rebounds, while the latter tallied 16 points and 13 boards.

The Junior Altas were led by Emman Galman’s 16 markers and 11 caroms. John Escalante added 13 and Yuki Kawamura, 11.

“Favored ’yung NU, but kami, we will give it our best,” said San Beda Head Coach Manu Iñigo.

The rest stood too far behind to pose a threat in the final round with Damasus Wong at 160 after a 79, and Alan Alegre limping with an 83 for a 161, 10 strokes off the pace.

Sharing the spotlight is Kirby Lachica, who carded a 74 to post a one-shot lead over Oliver Gan (75) at the start of the Mid-Amateur Open division of the event sponsored by MVP Sports Foundation, Cignal and Metro Pacific, and held under the PLDT Group National Amateur Tour.

Martin Guiang turned in a 76 while August Cruz and Gerald Katigbak each shot a 77 in what looms to be a fierce duel for top honors in the event, while Vince Fragante took the Mid-Am Division II lead with an 84, one stroke ahead of Paul Ignacio with Christopher Piala another stroke back at 86.

PHILIPPINE Sports Commission Chairman William Ramirez—shown here with Commissioner Charles Maxey and Deputy Executive Director Guillermo Iroy—and Philippine Southeast Asian Games Organizing Committee (Phisgoc) Chairman Rep. Alan Peter Cayetano—with Philippine Olympic Committee Chairman Rep. Abraham Tolentino and Phisgoc COO Ramon Suzara—hold fort for the country’s hosting of the biennial Games later this year. NONIE REYES

RAMIREZ, CAYETANO: GAMES WILL GO ON!

RMS BACK, SUZUKI STUMBLES fired a 67, keeping five players within four strokes off the pace with 36 holes to play in the P3-million event sponsored by ICTSI. Ababa, who opened with a 69, birdied four of the first seven holes then fought back from a bogey mishap on the ninth with back-to-back birdies from No. 13 to close within two off Pagunsan with a sixunder overall card. But the three-time PGT Asia leg winner hit a wayward shot on the 18th and ended up with a triple-bogey, settling for a 68 and a 137 for solo seventh.

Jay Bayron and Gerald Rosales also turned in identical 67s to join the big group of two-under overall scorers at 138, who included Englishman George Twyman (68), Michael Bibat, Aussie David Gleeson and Japanese Kei Matsuoka, who all carded 69s, Richard Sinfuego and Cebu leg winner Guido van der Valk, who groped for similar 72s, and Suzuki.

The 29-year-old Suzuki, who stunned the stellar international field with a bogey-free 64 on Wednesday, actually sustained his awesome form with two birdies in the first five holes to go eight-under overall. But the Osaka native took his first bogey on No. 9 then dropped two strokes on the par-4 11th.

Though he recovered with a birdie on the par-3 13th, Suzuki cracked under pressure to make a big rebound, holing out with bogeys on Nos. 15 and 16 then dropping another two strokes on the next for a 40 and a 74.

Forty-seven players made the cut pegged at threeover 143 with Johvanie Abaño (69), Ira Alido (74), Jun Bernis (71), Mhark Fernando (69) and Tony Lascuña (74) among those who grabbed the last berths.

op PPS Zamboanga Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) circuit headed by President/CEO Bobby Castro, crushing Gene Espinosa, 6-1, 6-3, to top the 16-U class. The Tukuran, Zamboanga del Sur, ace then rolled past Reyman Saldivar, 6-1, 6-1, to add the 18-U diadem.

Three campaigners from Kabacan (Jairo Ramirez and siblings Armando and Reyman Saldivar) and one each from Lanao del Norte (Denopol) and Ozamiz (Judy Ann Padilla) shared the spotlight by ruling their respective divisions in the four-day event sanctioned by the Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-Meg. Ramirez clobbered Yusuf Maldo, 4-2, 4-2, in the 10-unisex finals; Armando Saldivar foiled Maldo, 6-1, 6-4, for the 12-U crown; Reyman Saldivar took the 14-U title with 6-1, 6-3 romp over Espinosa; Denopol downed Rose Messiona, 6-2, 6-2, for the girls’ 12-U diadem; and Padilla repulsed Denopol for the 14-U crown.

JUVIC PAGUNSAN snatches the lead in the second round of the ICTSI Negros Occidental Classic. ROY DOMINGO

By Ramon Rafael Bonilla

T

HE show...er Games...must go on!

That was the message Philippine Sports Commission (PSC) Chairman William Ramirez emphatically sent on Thursday, two days after the Philippine Olympic Committee (POC) was rocked by a

leadership change.

“Let us focus on the positive side. The PSC has instructions from the President [Duterte] through the Office of the Executive Secretary to focus on the mission and make the country proud [to be the host of] the 30th Southeast Asian Games,” Ramirez told reporters in a press conference at the PSC offices inside the Rizal Memorial Complex in Manila.

“We will proceed with the opening on November 30, whatever happens,” added

Ramirez, who is also the Chef de Mission to the Games.

In a separate press conference of the Philippine SEA Games Organizing Committee (Phisgoc) in Taguig City, Phisgoc Chairman Rep. Alan Peter Cayetano echoed Ramirez’s declaration.

“Preparations are in place and in control,” said Cayetano, who addressed the Taguig press conference with POC Chairman Rep. Abraham Tolentino and Phisgoc COO Ramon Suzara.

“The ‘other party’ should not resort to public statements that might tarnish the image of the country as an effective host,” Cayetano stressed, obviously referring to Romasanta’s group.

“We are open to sit down and discuss issues hounding the Phisgoc,” Cayetano also boldly said. “Let’s not make unnecessary statements. We’re on track. There’s no problem.

Phisgoc is ready,” Ramirez made the bold statement after the POC, now headed by First Vice President Jose Romasanta, hinted at postponing the Games set for November 30 to December 11 to the first quarter of next year, citing time constraints as the reason.

Flanked by his commissioners Arnold Agustin and Charles Maxey, Ramirez told the POC to solve the crisis “within its ranks” and that the athletes should not be affected of the

leadership intramurals that saw Ricky Vargas resigning as president on Tuesday.

“The athletes should be isolated. The POC has to solve its own problem,” Ramirez said.

Ramirez said President Duterte directed the PSC to make sure that national athletes are well taken care of as they try to duplicate or surpass the 2005 Games the Philippines hosted with flying colors by emerging as the overall champion.

The government is primarily funding the Games to the tune of P6 billion with the Bases Conversion and Development Authority pitching in a huge contribution by building an athletics and aquatics center at the New Clark City in Capas, Tarlac.

The New Clark City facility is pegged at P13 billion and is an 18-month work-in-progress endeavor that is expected to be completed ahead of schedule in August.

The PSC, as the government arm for sports, will be disbursing all funds for the Games under the auspices of the Department of Budget and Management.

Ramirez said President Duterte, according to Executive Secretary Salvador Medialdea, is aware of the issues rocking the POC and the Phisgoc.

“The President is aware of the issues and directed us to keep our focus on the athletes and let the others sort out their issues within their ranks,” Ramirez said.

Petro Gazz braces for Creamline assault

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HE Petro Gazz Angels know fully well the challenge they would be facing when they meet the Creamline Cool Smashers for the second time in the Premier Volleyball League Season 3 Reinforced Conference on Saturday.

Not only they are bracing for Creamline’s ever-improving imports Kuttika Kaewpin and Ale Blanco and the fired-up local crew but also for a healthy Alyssa Valdez.

The multi-titled former Ateneo hotshot suffered an ankle injury in the second set of their opening

game duel on May 26, forcing her to sit out the third frame and enabling the Angels to fashion out a 25-22, 26-24, 25-22 victory, which PetroGazz used as the springboard to pile up six more victories and nail the first semifinal berth in the season-opening conference of the league organized by Sports Vision.

But Creamline bounced back from that defeat in remarkable fashion, sweeping their next six matches with Valdez back in harness, and Kaewpin and Blanco and the rest of the locals complementing well with each other as the defending champions joined the Angels in the Final Four of the tournament sponsored by Mikasa, Asics and KFC. That should make tomorrow’s 4 p.m. faceoff of the league’s top teams worth watching. Never

mind if both teams have secured their spots in the crossover semis. Momentum and building confidence are foremost. Pride is also a big motivation.

What made PetroGazz’s surge impressive was the Angels won their first five matches without dropping a set. They settled for a 3-1 romp over the BanKo-Perlas Spikers last June 12 but the Angels swept the lowly BaliPure Water Defenders for the second straight time.

But with Valdez slowly but surely regaining her top form and Kuttika and Blanco raising the level of their games by the day, the Angels will need to draw more firepower from Cuban reinforcement Wilma Salas and American Janisa Johnson and locals Jeanette Panaga, Cherry

Real Gold eyes second success in Naic race

F

OLLOWING a scintillating first-leg victory, Real Gold shoots for the second jewel in the Philippine Racing Commission’s (Philracom) 2019 Triple Crown series at the Saddle and Clubs Leisure Park in Naic, Cavite, on Sunday.

Real Gold won the initial battle of the country’s best three-year-olds, obliterating the eight-horse first-leg field that included undefeated and overwhelming favorite Obra Maestra at the San Lazaro Leisure Park in Carmona, Cavite, last month.

The C&H Enterprise-owned Real

Gold wants a fitting follow-up to that masterful win, but six of the country’s top horses stand in its way, namely Best Regards (jockey CP Henson, owner Peter Aguila), Boss Emong (Dan Camanero, Edward Vincent Diokno), Jayz (JA Guce, SC Stockfarm), Phenomenal (JB Guce, Enrique Javier), Shanghai Noon (OP Cortez, Emmanuel Santos) and Toy For The Big Boy (JB Cordova, Alfredo Santos).

The seven-horse field will also be gunning for the whopping top purse of P1.8 million from the total purse of P3 million put up by the Philracom for the race, to be ran in 1,800 meters.

Second placer of the race pockets P675,000, with the third and fourth placers getting

P375,000 and P150,000, respectively. A P100,000 prize is allotted for the breeder of winning horse.

“Real Gold set the bar high in the first leg,” said Philracom Chairman Andrew Sanchez. “Its performance will keep the rest on their toes.”

The last horse to win all three legs of the Triple Crown was Sepfourteen of SC Stockfarm in 2017. Prior to Sepfourteen’s Triple Crown achievement two years ago, the last time one horse won it all in one year was in 2014 when Emmanuel Santos’s colt Kid Molave (Into Mischief x Unsaid) scored the rare 3-peat.

In the accompanying second leg of the 2019 Philracom Hopeful Stakes Race, which will also be ran in 1,800 meters, a 10-horse

Nuñag, Maricar Baloaloa, Paneng Mercado, Jonah Sabete and playmaker Relea Saet to step up their respective games.

Both teams primed up for the match with straight-set romps with PetroGazz thumping BaliPure and Creamline foiling Motolite while spoiling the return of local ace Myla Pablo.

Despite the loss, the Power Builders shoot for the No. 4 spot as they take on the winless Water Defenders at 2 p.m.

Meanwhile, the league holds its third outof-town sortie in the conference in Biñan City in Laguna with BanKo-Perlas and Motolite clashing in a crucial match at 2 p.m. and PetroGazz seeking a repeat over third-running PacificTown Army at 4 p.m. field, bannered by SC Stockfarm’s coupled entries JLO (jockey JA Guce) and Mood Swing (MM Gonzales), will be eyeing the P600,000 top prize, from the total P1-million purse offered.

Joining the Hopeful Stakes fray are Harapin ang Bukas (jockey JB Hernandez, owner Benjamin Abalos Jr.), My Jopay (Pat R Dilema, Moises Villaseñor), Serafina (MB Pilapil, Peter Aguila), Skyscraper (RA Base, Leonardo M. Javier Jr.), Suburbia (OP Cortez, Joseph Dyhengco), The Accountant (CP Henson, Luis Aguila), Two Timer (JA Guce, Melaine Habla) and Viscerion (RC Baldonido, James Albert Dichaves).

Runner-up gets P225,000, while third and fourth placers receive P125,000 and P50,000, respectively, with winning breeder taking P30,000.

Uruguay accepts favorites tag

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ORTO ALEGRE, Brazil—Uruguay is starting to embrace the status of Copa America favorite.

The Uruguayans were wary of it at first, but after their convincing 4-0 opening win over Ecuador, coupled with slow starts by Brazil and Argentina, it became hard to ignore the “Celeste” as a top contender for the South American title.

“We are not thinking about, but if they are talking about us, it’s for a reason,” goalkeeper Fernando Muslera said. “It’s a nice thing to be treated well and see people believing that Uruguay can win the tournament.”

Uruguay, which takes on guest Japan in its second match on Thursday in Porto Alegre, arrived in Brazil seeking a record-extending 16th Copa title. It was touted as one of the favorites along with the hosts and Argentina, but started attracting more attention after the two powerhouses endured disappointing starts.

Argentina lost 2-0 to Colombia and Brazil was booed in a 3-0 win over Bolivia and a 0-0 draw against Venezuela.

“You have to wear that favorite tag if that’s what they put on you,” said forward Edinson Cavani, who scored one of the goals against Ecuador on Sunday. “It’s good that they give you that tag.”

Luis Suarez, Cavani’s partner in Uruguay’s dominant attack, also scored in the opening win that left the team tied with two-time defending champion Chile at the top of Group C with three points. The Chileans face Ecuador on Friday in Salvador.

Before the tournament, Uruguay captain Diego Godin said that calling Uruguay a favorite “made no sense” and “contributed nothing” to the squad.

Left back Diego Laxalt said the role of favorite was something temporary.

“It depends on who’s playing better at any given moment,” the AC Milan player said. “We played well and scored many goals, but that doesn’t really mean anything.”

Uruguay will be heavily favored against Japan, which brought to Brazil a young squad focused on the Olympic tournament at home next year. The Japanese opened their Copa America campaign with a 4-0 loss to Chile on Monday.

“We can’t think that we are going to have an easy match,” Laxalt said. “We need a good result to keep improving and to stay on track for the title.”

Uruguay’s 15 Copa America titles are one more than Argentina. Its last victory came in 2011. AP

Sports

S Colombia

COLOMBIA’S Duvan Zapata (center) heads the ball to score against Qatar during a Copa America Group B soccer match at Morumbi stadium in São Paulo, Brazil, on Wednesday. Colombia won the match, 1-0. AP

ÃO PAULO—James Rodriguez again proved to be the key for Colombia in the Copa America.

With another great assist in a crucial moment, Rodriguez led Colombia to a hard-fought 1-0 win over guest Qatar on Wednesday, securing his team in the knockout stage of the South American competition.

Rodriguez came up with a perfect cross to set up Duvan Zapata’s 86th-minute winner at the Morumbi Stadium.

Rodriguez had already been key in Colombia’s impressive 2-0 win over Argentina in the opener, setting up Roger Martinez’s first goal with a superb long pass from behind midfield.

After squandering many scoring opportunities and being held by a great performance by Qatari goalkeeper Saad Al Sheeb, Rodriguez helped Colombia break through the Qatari defense after finding Zapata making a run behind defenders inside the area.

Rodriguez used the outside of his foot to curl a well-placed cross to Zapata, who headed the ball over Sheeb and into the far corner, igniting the mostly pro-Colombia crowd of nearly 22,000 at the Morumbi.

“They played very defensively, relying on counterattacks,” Rodriguez said. “We kept trying and in the end it was a fair result.”

Colombia had dominated from the start but wasn’t able to capitalize on its chances until Rodriguez finally combined with Zapata, who had also scored against Argentina.

“It’s always like this when you have a team with the obligation to win and another which is very organized and that plays very tight on defense, not giving up spaces,” Colombia Coach Carlos Queiroz said. “If you don’t score early, you are going to suffer. We won because Colombia played the way I like Colombia to play, fully focused during the 90 minutes.”

Colombia had a goal disallowed for offside a few minutes into the match, and early in the second half it had a penalty kick reversed by video review.

Colombia reached six points from two matches in Group B, while Qatar stayed with one point.

Paraguay, which drew 1-1 with Argentina later Thursday in Belo Horizonte, has two points, one more than Argentina.

The top 2 teams in each of the three groups advance, along with the best two third-place finishers.

Colombia closes group play against Paraguay on Sunday in Salvador, while Qatar takes on Argentina in Porto Alegre.

Qatar, making its debut in the South American tournament, had opened with a surprising 2-2 draw against Paraguay after trailing by two goals. The host of the 2022 World Cup remains with chances of advancing despite the loss at the Morumbi.

“We played against one of the best teams in the world,” Qatar Coach Felix Sanchez said.

“Despite the loss, we competed until the final whistle. This will give us strength to keep working and preparing for the future.”

The other invited team in this year’s tournament is Japan, which is making its second Copa appearance.

Qatar will also play in next year’s Copa America cohosted by Colombia and Argentina. The other guest nation in 2020 will be Australia. AP

to beat them and see the players which fit the profile the best.

“That’s what rotation is about. It’s not about throwing 23 players into a hat and pulling out 11. We strategically plan each rotation. Sometimes if you make more than five, you suffer in the rhythm and the flow and I think we did that tonight.”

Trailing by a goal, Japan almost scored when substitute Yuika Sugasawa volleyed narrowly past the left post.

“We managed to get through to the knockout stage, and the things we should do have been defined in our past matches,” Japan Coach Asako Takakura said. “We need to be very prepared for the next round.”

Florencia Bonsegundo, meanwhile, converted a penalty kick in the fourth minute of second-half stoppage time on her second attempt, and Argentina overcame a three-goal deficit in the final 30 minutes for a 3-3 draw against Scotland also on Wednesday night that eliminated the Scots.

Scotland built a 3-0 lead on goals by Kim Little in the 19th minute, Jenny Beattie in the 49th and Erin Cuthbert in the 69th, but Argentina became the first team at a Women’s World Cup to get a point after trailing by three goals.

Milagros Menéndez scored on a counterattack in the 74th minute and Bonsegundo’s long-range shot five minutes later hit the crossbar, bounced down and

ENGLAND’S Ellen White applauds after the Women’s World Cup Group D soccer match between Japan and England at the Stade de Nice in Nice, France, on Wednesday. AP

BusinessMirror

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| Friday, June 21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

escapes Qatar with late goal

ENGLAND TOPS GROUP ACTION

By Daniella Matar The Associated Press

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ICE, France—For the first time since Bryan Robson, Peter Shilton and Glenn Hoddle, an England team finished a World Cup group stage with a 3-0 record.

Ellen White scored both goals, and the Lionesses roared into the round of 16 with a 2-0 victory over Japan on Wednesday night to win the group.

Phil Neville’s England squad will play a third-place team on Sunday and with a victory would advance to a quarterfinal against Norway or Australia. The victory over Japan came after Neville made eight changes to the starting lineup.

“Since Phil’s come in he’s changed different combinations of the squad and I think that’s why this squad is so competitive and so great,” White said. “We can change the squad and show that we can play together and we’ve got so many different combinations and styles and talented players and that’s really important going into a tournament that’s really long.

“We can use all 23 players so that’s exciting and it’s just great to have such talented players that can perform on the biggest stage.”

Japan finished second with a 1-1-1 record and will play the Netherlands or Canada in the round of 16.

The 30-year-old White scored in the

ARGENTINA’S Florencia Bonsegundo celebrates after scoring an equaliser goal during the Women’s World Cup Group D soccer match between Scotland and Argentina at Parc des Princes in Paris, France, on Wednesday. AP

14th minute when she chipped the ball past goalkeeper Saki Kumagai after being sent clear by Georgia Stanway. White’s third goal on the tournament came in the 84th minute following a through-ball by Karen Carney.

White scored in the opening win over Scotland, then was dropped to the bench against Argentina.

“We’ve just got to give him a headache,” White said with a laugh, describing all the players pushing to start. “For us it’s just about trying to perform and play well and he’s got the hard job to do.”

Neville is likely to stick with his rotation policy for Sunday’s match although he admitted he might not make as many changes.

“It depends on what team we’re playing,” he said. “There are certain players who are our experts in certain games. We need to know which team we’re playing, then decide how they play, how we’re going

had enough backspin to go off the fingertips of goalkeeper Lee Alexander and across the line.

Sophie Howard had just entered the game when she slid into a leg of Aldana Cometti, who was streaking into the penalty area. After a lengthy video review, North Korean referee Ri Hyang Ok awarded the penalty kick.

Alexander dived to stop the kick by Bonsegundo, who could not get the rebound in. But another video review showed Alexander came off her line before the kick.

Given the second chance, Bonsegundo kicked the ball to the right of the keeper, who dived left.

Scotland, which had been on the verge of winning a Women’s World Cup match for the first time, could not muster a threat in the remaining stoppage time and

finished last in Group D at with two losses and a draw.

Argentina finished with two points after opening with a 0-0 draw against Japan—its first World Cup point—and losing to England 1-0.

Four of the six third-place teams advance, and Brazil (six points) and China (four points) are assured of two of those spots. Nigeria finished third with three points.

Argentina would advance if both the Cameroon-New Zealand and Thailand-Chile matches on Thursday finish in draws. Argentina was eliminated in the group stage of its first two World Cup appearances.

Most high God

D

EAR God, You gladden us by the unsurpassable love You have shown us in Jesus. In hope and love we pray: Ground us in Your truth, oh God. Grant us patience in suffering and courage in love. Shed light upon deceitful speech and abusive actions in Church and society.

Unite Christians in collaborative efforts to care for the Earth and respect all of life. May God bless us with faith in Christ so that we may be filled with all the fullness of God. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life

‘TOY STORY’ LIVES ON, BUT SHOULD IT HAVE? D4

BusinessMirror

Friday, June 21, 2019

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IN this 1964, file photo, railroad heiress Gloria Vanderbilt poses for a photograph. Vanderbilt, the intrepid heiress, artist and romantic who began her extraordinary life as the “poor little rich girl” of the Great Depression, survived family tragedy and multiple marriages, and reigned during the 1970s and 1980s as a designer jeans pioneer. AP

Remembering Gloria Vanderbilt...

heiress, jeans queen, and Anderson Cooper’s mother

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By ULa iLnyTZky The Associated Press

EW YORK—Gloria Vanderbilt, the intrepid heiress, artist and romantic who began her extraordinary life as the “poor little rich girl” of the Great Depression, survived family tragedy and multiple marriages, and reigned during the 1970s and 1980s as a designer jeans pioneer, died on Monday at the age of 95.

Vanderbilt was the great-great-granddaughter of financier Cornelius Vanderbilt and the mother of CNN newsman Anderson Cooper, who announced her death via a first-person obituary that aired on the network on Monday morning.

Cooper said Vanderbilt died at home with friends and family at her side. She had been suffering from advanced stomach cancer, he noted.

“Gloria Vanderbilt was an extraordinary woman who loved life, and lived it on her own terms,” Cooper said in a statement.

“She was a painter, a writer, and a designer but also a remarkable mother, wife and friend. She was 95 years old, but ask anyone close to her, and they’d tell you, she was the youngest person they knew, the coolest and most modern.”

Her life was chronicled in sensational headlines from her childhood through four marriages and

MOTHER & SON Vanderbilt with her son, CNN anchor Anderson Cooper, in a rare TV interview. “Gloria Vanderbilt was an extraordinary woman who loved life, and lived it on her own terms,” Cooper said in a statement following his mother’s death on Monday. three divorces. She married for the first time at 17, causing her aunt to disinherit her. Her husbands included Leopold Stokowski, the celebrated conductor, and Sidney Lumet, the award-winning movie and

television director. In 1988 she witnessed the suicide of one of her four sons.

Tributes online came from celebrities and fans of her clothes alike. Alyssa Milano called her “an

incredible woman,” Dana Delany said she treasures one of Vanderbilt’s paintings and model Carol Alt hailed her as a “fashion icon and innovator.” And one Twitter user mourned by remembering the canary Vanderbilt jeans she wore in junior high school.

Vanderbilt was a talented painter and collagist who also acted on the stage (The Time of Your Life on Broadway in 1955) and television (Playhouse 90, Studio One, Kra�t Theater, United States Steel Hour). She was a fabric designer who became an early enthusiast for designer denim. The dark-haired, tall and ultra-thin Vanderbilt partnered with Mohan Murjani, who introduced a $1 million advertising campaign in 1978 that turned the Gloria Vanderbilt brand with its signature white swan label into a sensation.

At its peak in 1980, it was generating over $200 million in sales. And decades later, famous-name designer jeans—dressed up or down—remain a woman’s wardrobe staple.

Vanderbilt wrote several books, including the 2004 chronicle of her love life: It Seemed Important at the Time: A Romance Memoir, which drops such names as Errol Flynn, whom she dated as a teenager; Frank Sinatra, for whom she left Stokowski; Marlon Brando and Howard Hughes. She claimed her only happy marriage was to author Wyatt Cooper, which ended

conTinUeD on D3

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Friday, June 21, 2019

Society BusinessMirror

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Lucy Hale, 29; Kevin McHale, 30; Diablo Cody, 40; Boy George, 57.

HAPPY BIRTHDAY: Opportunities are available this year, but it’s up to you to take advantage of them.

Don’t let emotions or self-doubt overwhelm you. You have to have faith in who you are and what you can achieve if you want to turn this into a year filled with greatness and success. Your lucky numbers are 3, 12, 22, 27, 32, 41, 43.

a

ARIES (March 21-April 19): An emotional situation will require discipline on your part if you don’t want to make matters worse. Choose your words wisely to avoid a standoff with someone you need to work with in order to accomplish your goals.

HHH

b VINCE HIZON and Judith Staples, head of marketing for Lifestyle Brands, Lucerne Group

MANUEL DACANAY, managing director of The Watch Store Asia Ltd., and Sanya Smith

A toast to 10 C OMMEMORATING 10 extraordinary years of fine craftsmanship and modern design in the Philippines, celebrated watch brand TW Steel has launched a limited-edition watch.

With only 320 pieces available, the TW Steel X is set to be a highly covetable timepiece especially for watch collectors and fans of the Dutch premium watch brand.

Starting out in the Netherlands back in 2005, TW Steel (www.twsteel.com) was founded by fatherand-son duo Ton and Jordy Cobelens. From a simple conversation regarding the rising popularity of oversized watches that time, the Cobelens took a big leap of faith and developed TW Steel.

From the comforts of his own home, Ton started realizing their dream as he designed and produced TW Steel’s very first collection. This gave birth to the brand’s now known classics: TW1, TW2, TW3 and TW4. As the brand gained attention in Europe and Asia, it was officially launched in the Philippines in October 2009 by Lucerne Jewellers and quickly became a hit among local watch collectors.

Its first stand-alone store in the world opened in Manila just a year later. TW Steel’s The Podium branch soon saw the addition of nine more stores all over Metro Manila, Pampanga and Cebu City.

The brand’s instant popularity in the Philippines can be easily attributed to its fresh, innovative and trendy designs matched by excellent quality at great price points. TW Steel’s oversized look has become a big hit all over the world, making the brand literally achieve “big-time” success.

Dutch by design, big in attitude and in a class of its

c

GEMINI (May 21-June 20): Discipline, hard work and minor accomplishments will help you drum up the help you need to finish what you start. A physical improvement at home or to yourself must be thought out before you begin. HHH

d

CANCER (June 21-July 22): Attend networking functions or expand your creative endeavors. You need an outlet that will bring you peace of mind and ease your stress. An emotional incident should not be allowed to undermine your ability to get things done. HH

e

LEO (July 23-Aug. 22): Don’t let anxiousness take over, pushing you to make an abrupt decision that can affect your home environment or an important relationship. Keep your opinion and your personal information a secret to avoid having someone tamper with your plans. HHHH

f

VIRGO (Aug. 23-Sept. 22): If it’s change you want, make it happen. Take the initiative; you’ll soon gain the support you need from your peers or family. Emotional spending should be avoided. Don’t try to buy someone’s attention or affection. HHH

g

LIBRA (Sept. 23-Oct. 22): You’ll face a bit of an obstacle course. Your timing will have to be impeccable if you want to come out on top. Don’t overextend yourself or underestimate what’s involved in a project or partnership. Take a pass if turmoil starts to mount. HHH FROM left: Chief Executive Officer and Cofounder of TW Steel Jordy Cobelens, Marvin Agustin and TW Steel Brand Ambassador Simeon Panda

own, the brand has certainly been a game changer and trendsetter among watchmakers. By not conforming to what’s available or “normal,” TW Steel has successfully carved a niche in watch design, setting its own trends and style.

With a launch that drew not a few familiar faces and avid watch aficionados, the limited-edition TW Steel X is a beautifully crafted dual-time watch

powered by Swiss chronograph movement by Ronda AG. It is encased inside a 44mm high-grade 316L steel case with an elegant brushed finish.

Sporting a bezel design with eight screws and a polished finish on the sides, each TW Steel X comes with a silicon rubber strap, a durable sapphire coated crystal and is waterproof up to a depth of 10 ATM. n

of recognitions, our guests’ enjoyment is what we are all about.”

The growing Philippine Sommelier Competition consists of some of the country’s finest sommeliers who go head-to-head in a test of knowledge and experience.

Held annually, the sommeliers exhibit a showcase of skill and grace under pressure as each one competes in an international format competition consisting of a written and a practical examination. Serving as judges include local and respected names in the Philippine food and wine scene, as well as known sommelier experts regionally.

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SCORPIO (Oct. 23-Nov. 21): Situations will get blown out of proportion quickly.

Don’t overreact or offer too much information to people who tend to get upset easily.

A problem at home or with a partner will take an unexpected turn. Patience will be required. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Money matters are best handled with caution. Only invest what you can afford. If you go into debt, it will cause monetary issues with someone you share expenses with. Make romance and an important relationship your priorities. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Beliefs may be questioned. Don’t let anyone play with your emotions or cause you to doubt your lifestyle or ethics. Arguments won’t solve issues, but allowing everyone to have his or her own opinion will. Diplomacy will open doors. HH

ENDERUN BAGS ANOTHER TOP AWARD AT SOMMELIER COMPETITION ENDERUN Colleges student Jiyoung Park recently won the top award for the Junior category of the Third Philippine Sommelier Competition.

Asked about her win, Jiyoung shared that, “I felt happy when they announced my name. Winning this also motivates me now even more to further improve and help more people discover the wonderful world of wine. Many think it’s all about knowledge, but I think a great sommelier stands out because of a friendly, approachable attitude. We are here to help our guests enjoy wine to the fullest—and to achieve that, people skills are vital. The job of a sommelier is very customer-centric. Although we get these kinds

TAURUS (April 20-May 20): Look for alternative solutions if things aren’t falling into place. Discuss your plans with someone who can influence the outcome; you will find a way to get things done without opposition. Don’t take a physical risk that could lead to injury. HHH

k l

AQUARIUS (Jan. 20-Feb. 18): Don’t let inevitable change upset you. Go with the flow and turn a potential negative into a positive. How you react will make a difference. Unclutter your surroundings and de-stress your life. HHHHH PISCES (Feb. 19-March 20): Joint ventures are not favored. Don’t let someone charm you into doing things that aren’t in your best interest. Keep the peace, but do your own thing. An unexpected change to the way you earn your money is apparent. HHH ENDERUN Colleges student Jiyoung Park and her mentor, Enderun Colleges Associate Dean for International Hospitality Management Bel Castro

BIRTHDAY BABY: You are interesting, unique and creative.

You are persuasive and possessive.

‘dinner and a show’ BY SARAH MCDANIEL AND DEBBIE ELLERIN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Largest artery 6 Pipsqueak 11 0, for -1 and 1 14 Unemotional 15 Utter chaos 16 Santa ___ 17 Historical French musical that racked up ticket sales?

19 Rockies tree 20 “___ you kidding me?”

21 Dillydally 22 Hamsters, e.g.

23 Early in the workday 25 “La-la” lead-in 26 Substitute teacher musical for ham actors?

32 Pests for a puppy 35 Ancient Greeks’ tubed instrument 36 Octogenarian celebrity Yoko 37 Sandals often separate them 40 Texter’s “Mea culpa” 41 “Naturally!”

43 Snaky sea creatures 44 Charleston musical with a meaty plot?

8 Hem-and-haw sounds 4 49 Smoked Texas meat 53 March Madness org.

55 Beginning 58 “I believe,” online 59 Nondairy milk source 60 Apt name for a restaurant that shows 17-, 26- and 44-Across 62 ___ bono 63 Find out 64 French farewell 65 Cob + kernels 66 Mountains where alpacas roam 67 Where, in San Juan DOWN 1 Narnia lion 2 Former SNL star Cheri 3 Dolphins quarterback Josh 4 Tiny Dickens boy 5 Like citrus fruits 6 “Tommy” rockers 7 Hospital section 8 “See no ___...”

9 Hogwarts garb 10 HP products

1 Spy’s getaway 1 12 Pound or stone 13 Curiosity rover’s planet 18 Pageant accessory 22 Sci-fi author Frederik 24 Linguistic suffix 25 Switch positions 27 Made a decision 28 ___-tzu (Taoism founder) 29 “Rogue ___” 30 Shift neighbor 31 Pop singer Alicia 32 Crochet stitch shape 33 Facts, for short 34 Stan Lee, for many superheroes 37 Acquires 38 Podcast host Glass 39 Family Feud channel 42 Gumbo vegetable 43 Beginning of summer?

45 Dangerous toys 46 Great Lake named for a tribe 47 Mythical sailor 50 Popular Japanese beer 51 War zone correspondent

2 Chef’s hat 5 53 “Uh-uh” 54 Dear, in Turin 55 Easy-Bake ___ 56 Crack a book...or hit the books 57 Concerning, legally 60 It’s under Tenn.

61 Kerfuffle Solution to yesterday’s puzzle:

www.businessmirror.com.ph

MISS USA 2015 Olivia Jordan, President and CEO of Smile Train Susannah Schaefer, and Miss Universe 2015 Pia Wurtzbach at Smile Train’s 20th anniversary gala.

Pia Wurtzbach joins Smile Train to celebrate 20 years of impact THE world’s leading cleft charity, Smile Train, hosted their 20th anniversary gala at New York City’s iconic landmark Capitale on May 2.

The evening featured remarks from honorees including Graham Elliot, owner and chef of Coast at MGM Cotai; Dr. Larry Hollier, chairman of Smile Train’s Medical Advisory Board; and Paula Shugart, president of The Miss Universe Organization. “On a personal level, both Pia and I had the opportunity to see Smile Train’s cleft programs in action—for me in Haiti, and for Pia in the Philippines. Meeting the local medical professionals providing cleft care, and the children and families in the communities benefiting from cleft treatment was truly life-changing,” said Miss USA 2015 Olivia Jordan, referencing Miss Universe 2015 Pia Wurtzbach—and accepting the award on behalf of Paula Shugart, president of The Miss Universe Organization.

“Smile Train is grateful for all of the support over the last 20 years from our local medical partners, corporate partners, donors, patients and their families, ambassadors and local community members,” said Susannah Schaefer, president and CEO, Smile Train.

“Our focus for the future is growing our comprehensive cleft treatment programs to help as many children in need as possible.” n For more information, visit www.smiletrain.org.

To learn more about Smile Train’s local programs in the Philippines, follow @SmileTrainPh on Twitter and Instagram.

Relationships BusinessMirror

Friday, June 21, 2019

‘Hey there!’

SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

N

O one can accuse me of being old fashioned, traditional, or set in my ways.

In fact, even my own friends can guarantee that I adapt very well to the changing times, be it technology, lifestyle or fashion.

I’m known to be an early adopter to social media, the latest lipstick brand, new music (except for Taylor Swift!), and for a while back, phones/phone brands (until my longtime service provider forgot about their loyal customers, giving us shit phones in our retention plans, while trying to attract new subscribers with the nifty new phones).

OK, I admit that it took me awhile to get on board with the millennial-speak, but parents, let me just warn you that when your kids tell you that they are just going to “Netflix and chill” with their friends, it isn’t as innocent as it sounds.

And yet I am appalled at how laid-back most people are these days, especially when conducting business, or writing to companies and important people via e-mail, for instance.

To this day, when meeting CEOs or business executives for the first time, I address them “Sir” or “Ma’am” unless they insist I use their first name.

(When that happens, it’s usually because the executive is younger than I am, and they think I am talking to their fathers or mothers.)

And unless I know the company official I am writing to very well, I still resort to the traditional

business letter form and adapting it to e-mail. Back in the day (or what young people now think as “when dinosaurs ruled the Earth”), we were taught how to write business letters.

You can look up on the Internet how a formal business letter looks like.

Templates of these abound on the Internet, and yet many of my friends and I still receive e-mailed letters addressed to us in a folksy, or very casual manner from people we don’t even know. For one, they address us with our first name, like we’re childhood friends, and are written in a very relaxed informal manner.

Instead of receiving a personalized e-mail, most often as it is in the case of our media business, we get annoying e-mail blasts. Usually from nondescript publicists or public relations “specialists” who don’t even know how to spell your name correctly, these e-mail blasts are impersonal and lump you in with other unseen recipients (if the sender knows how to use the bcc function on their e-mail).

But many people are careless these days and don’t care about personal privacy, especially not their own, so we will likely receive an e-mail where our private e-mail addresses are displayed on the To: or Cc: line, exposed to strangers, and mixed with other e-mail addresses.

There was one time I got super irritated with one publicist I didn’t even know from Adam (or Eve, let’s not be sexist now), who sent me the same e-mail to an event three times! I finally had to write back to say that e-mailing me that many times would not guarantee my attendance to her event (which, frankly, was not interesting to begin with).

She then e-mailed back apologizing yet rationalized that my e-mail was on three different media lists, which was why I received her invite thrice. I didn’t bother to respond and just blocked her e-mail address. But what I really wanted to say was, “Stop being lazy and get over your e-mail blasts!” It’s annoying and disrespectful to recipients!

Because many of them are too lazy to write a personal note to each and every recipient on their list, we are likely to receive an e-mail with a superficial catch all “Hey there!” greeting, instead of the more traditional “Dear Mr. or Ms. so and so.”

I am certainly not a slave to tradition. But when addressing people whether verbally or through letters or e-mails for requests or invitations, many in my generation and those older prefer to be accorded with the respect our age and position call for.

Perhaps it is time for our schools to bring back “Good Manners and Right Conduct” as a subject, as some people have suggested, for which the Department of Education, I am told, is seriously contemplating. At Saint Theresa’s where I spent most of my formative years, we would receive two sets of cards: one for the formal subjects like Math, English, Filipino, Social Studies, and another which summarized our behavior. Is she helpful? Is she neat and tidy?

For each of those areas of general social behavior, we would receive a grade. My lowest grade would always be in the aspect of being a quiet student, which I was not. I was always considered talkative in class that the teachers would either sit me in front, so they could keep a closer watch on me, or sit me beside the most quiet perfect student in the room. Which would never work of course, because Ms. Little Mousy would often end up talking as much as me.

In high school or upper senior years, a subject like business communication would also be helpful for students who are expected to interact in a wider world when they enter the university. There, they will meet more learned professionals, esteemed professors, a lawmaker or two if they are lucky, or other people much higher in authority. It’s only proper that these kids know how to interact properly on a larger social platform.

For me, anything one does outside one’s home should be governed by a set of stricter or more formal rules of social behavior and engagement. n

Remembering Gloria Vanderbilt...heiress, jeans queen and Anderson Cooper’s mother conTinUeD FRoM D1 with his death in 1978 at age 50. Son Anderson Cooper called her memoir “a terrific book; it’s like an older Sex and the City.”

“I’ve had many, many loves,” Vanderbilt told The Associated Press in a 2004 interview. “I always feel that something wonderful is going to happen. And it always does.”

Noting her father’s death when she was a toddler, she said: “If you don’t have a father, you don’t miss it, because you don’t know what it is. It was really only when I married Wyatt Cooper that I understood what it was like to have a father, because he was just an extraordinary father.”

In 2016, Vanderbilt and Anderson Cooper appeared together in the HBO documentary Nothing Le�t Unsaid.

Gloria Laura Madeleine Sophie Vanderbilt was born in 1924, a century after her great-greatgrandfather started the family fortune, first in steamships, later in railroads. He left around $100 million when he died in 1877 at age 82.

Her father, Reginald Claypoole Vanderbilt, was 43, a gambler and boozer dying of liver disease when he married Gloria Morgan, 19, in 1923. Their daughter was one when Vanderbilt died in 1925, having gone through $25 million in 14 years.

Beneficiary of a $5 million trust fund, Vanderbilt became the “poor little rich girl” in 1934 at age 10 as the object of a custody fight between her globe-

trotting mother and matriarchal aunt.

The aunt, Gertrude Vanderbilt Whitney, 59, who controlled $78 million and founded the Whitney Museum of American Art, won custody of her niece.

A shocked judge had closed the trial when a maid accused the child’s mother of a lesbian affair with a member of the British royal family. The fight was chronicled in the best-selling 1980 book Little Gloria...

Happy at Last, made into a TV miniseries in 1982 with Angela Lansbury playing Whitney.

The “poor little rich girl” nickname “bothered me enormously,” Vanderbilt told The Associated Press in a 2016 interview.

“I didn’t see any of the press—the newspapers were kept from me. I didn’t know what it meant. I didn’t feel poor and I didn’t feel rich. It really did influence me enormously to make something of my life when I realized what it meant.” After spending the next seven years on her aunt’s Long Island estate, Vanderbilt went to Hollywood. She dated celebrities and declared she would marry Hughes. Instead, the 17-year-old wed Hughes’s press agent, Pasquale di Cicco, prompting her aunt to cut Gloria out of her will.

Vanderbilt came into her own $5-million trust fund in 1945 at age 21. She also divorced di Cicco, whom she said had beaten her often, and the next day married the 63-year-old Stokowski. The marriage to the conductor lasted 10 years and produced two sons, Stanislaus and Christopher.

After her marriage broke up, Vanderbilt found

herself embroiled in another custody case, this time as the mother. During the closed hearings, Stokowski accused Vanderbilt of spending too much time at parties and too little with the boys. She accused him of tyrannizing his sons, and said he really was 85, and not 72 as he claimed.

Justice Edgar Nathan Jr. gave Vanderbilt full-time custody. But he commented that the court had wasted a month on “the resolution of problems which mature, intelligent parents should be able to work out for themselves.”

Vanderbilt married Lumet in 1956, and lived with him and her children in a 10-room duplex penthouse on Gracie Square. She divorced Lumet and married Cooper in 1963. Their elder son, Carter, a Princeton graduate and editor at American Heritage, killed himself in 1988 at age 23, leaping from his mother’s 14th floor apartment as she tried to stop him. Police said he had been treated for depression, and friends said he was despondent over a break-up with a girlfriend.

Vanderbilt says in Nothing Le�t Unsaid that she contemplated following him out the window, but the thought of how it would devastate Cooper stopped her. After her success in designer jeans, Vanderbilt branched out into other areas, including shoes, scarves, table and bed linens, and china, through her company, Gloria Concepts.

In 1988 Vanderbilt joined the designer fragrance market with her signature “Glorious.”

By the late 1980s, Vanderbilt sold the name and

licenses for the brand name “Gloria Vanderbilt” to Gitano, who transferred it to a group of private investors in 1993. More recently, her stretch jeans have been licensed through Jones Apparel Group Inc., which acquired Gloria Vanderbilt Apparel Corp. in 2002 for $138 million.

Vanderbilt became the target of a swindle in the late 1970s and early 1980s when she made her psychiatrist and a lawyer associates in her business affairs. A court held that the two had looted millions from Vanderbilt’s bank accounts.

Vanderbilt also made headlines in 1980 when she filed, but later dropped, a discrimination complaint against the posh River House apartments, which had rejected her bid to buy a $1.1-million duplex.

She claimed the board was worried that black singer Bobby Short, who appeared with her on TV commercials, might marry her.

In 2009, the 85-year-old Vanderbilt penned a new novel, Obsession: An Erotic Tale, a graphic tale about an architect’s widow who discovers a cache of her husband’s letters that reveal his secret sex life.

In an interview with The New York Times, she said she wasn’t embarrassed about the explicitness of her new book, saying: “I don’t think age has anything to do with what you write about. The only thing that would embarrass me is bad writing, and the only thing that really concerned me was my children. You know how children can be about their parents. But mine are very intelligent and supportive.” n

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Show BusinessMirror

Friday, June 21, 2019

www.businessmirror.com.ph

TOY Story 4 finds Woody and the gang now settled in with Bonnie—until Woody slips into another existential crisis of selfworth over Forky. AP

KARAMO BROWN (from left), Bobby Berk, Tan France, Antoni Porowski and Jonathan van Ness arrive at a For Your Consideration event for Queer Eye at Raleigh Studios in Los Angeles. AP

NETFLIX ANNOUNCES 2 MORE SEASONS OF ‘QUEER EYE’ KANSAS CITY, Missouri—Netflix’s show Queer Eye says it’s bringing fabulousness to the masses for two more seasons.

The streaming service announced on Tuesday that the fourth season will debut on July 19. The eight episodes were shot in the Kansas City area, where last season the stars revamped a prison guard, a children’s camp program director and two sisters who own a barbecue joint. Netflix also says production will begin soon in Philadelphia for the fifth season, which will be released next year.

The show features resident fashion expert, Tan France, along with food guru Antoni Porowski, hairstylist Jonathan van Ness, culture expert Karamo Brown and home designer Bobby Berk. The Emmywinning show is a reboot of the 2003 series Queer Eye for the Straight Guy. AP

‘Toy Story’ lives on, but should it have?

N AI-AI DE LAS ALAS and Bayani Agbayani star in the comedy Feelennial.

‘Feelennial’ is surprisingly good

By Leony R. Garcia WITH the new comedy Feelennial, Ai-Ai de las Alas once again proved that she’s still the undisputed Comedy Queen of Philippine entertainment. She has found a new leading man in Bayani Agbayani, whose deadpan humor in the movie compliments Ai-Ai’s brand of comedy.

Feelennial is about “aging people” trying to look for happiness and the second chance for love in this age of the millennials using social media—with the help of family and friends. That makes it a family movie, showing social media a positive tool to unite.

On the side, it shows hilarious ways young people and the feeling millennials use the “in things” with regards to mobile phones and the various apps available today.

Talking about ensemble acting, Ai-Ni, the new AiAi and Bayani tandem, is ably supported by veritable newbies (except for Ina Feleo and Nar Cabico): Raffy Roque, Nicole Donesa, Jelai Andres, Sophia de las Alas, Arvic Tan, Skelly Skelly and Micah Muñoz who gave solid performances to highlight the duo’s acting.

In the movie, Raffy (Bayani’s niece) and Arvic (Ai-Ai’s son) are the younger loveteam that was given moments to shine, as well.

The duo’s subplot provides lessons for the young and the young-at-heart: to never be impulsive and never rush things such as love and marriage. Raffy also gives an outstanding rendition of the movie theme song “Himala,” as arranged by Robin Nievera.

Feelennial has found a new comedy director in the person of TV series director, Rechie del Carmen.

Congratulations to Pops Fernandez for her first movie venture under DSL Productions in collaboration with Cignal Entertainment.

Fernandez, who has been staging concerts, used her late mother Dulce’s DSL Productions to honor her and continue her legacy, having produced the singer’s concert. Her ex-husband Martin Nievera attended the premiere night on Monday to show his support. Both have a cameo role in the movie, which added a kilig factor for the audience. Incidentally, Martin Nievera and Pops Fernandez will be having a series of concerts in Europe this August.

Feelennial is now in theaters everywhere. It’s worth your time and money.

By Jake Coyle The Associated Press

EW YORK—Like Casablanca, Toy Story 3 concluded with the beginning of a beautiful friendship.

It’s an ending that has very possibly produced an ocean’s worth of tears, not to mention countless awkward moments for children mildly embarrassed by their parents suddenly turning into waterfalls. “Um, dad, it’s a movie about a toy cowboy.”

But the sentimental crescendo of the Toy Story trilogy was real. The films’ young boy, the one whose name was emblazed on the bottom of Woody’s foot, had grown up. Andy was going to college. The fate most feared by the toys—boxed up in the attic—was miraculously avoided when Andy gifted his beloved playthings to a young girl named Bonnie.

As he drove off, after one last imaginative romp in the yard, Woody watched Andy go like a wistful father. After three brilliant and heartfelt parenting parables that ruminated on aging, loss and impermanence alongside the pitfalls of arcade claw machines and toddler day-care centers, this was the final goodbye. Goodbye to Andy, yes, but goodbye to childhood. “So long, partner,” said Woody.

Big gulp.

The finale was immediately received as a classic Hollywood ending. “The chances of topping this one are infinitesimal,” New York magazine wrote at the time. Toy Story 3 won the Oscar for best animated film. Everyone, including the film’s makers and cast, believed they had neatly, perfectly wrapped up their trilogy.

“From the inside, Toy Story 3 was definitely the end of it,” said Tim Allen, the voice of Buzz Lightyear.

“That one scene was it.”

But, of course, that wasn’t it. Toy Story has returned, nine years later, with Toy Story 4. In today’s movie business, nothing is safe from ongoing sequelizing, not even a story about the very necessity of letting go and making peace with the passage of time.

That movie franchises have been extended well beyond their natural cycle is nothing new. But Toy Story 4 may mark when Hollywood officially gave up saying goodbye.

It’s probably a fool’s errand to wish for prudence from a corporate-made, multibillion-dollar property that was, from the outset, designed to sell as many toys as it jerked tears. Toy Story 4, which opens in theaters on Friday, is widely expected to make around $150 million over the weekend and gross close to $1 billion over its worldwide run, just like Toy Story 3 did.

And, for some, Woody is again coming to rescue.

The Walt Disney Co. release will break a spell of underperforming sequels. The box office has recently slumped about 7 percent below last year, partly due to a string of disappointing returns for badly reviewed (or just plain bad) sequels: Dark Phoenix, The Secret Life of Pets 2, Men in Black: International.

As Jeff Bock, senior box-office analyst for Exhibitor Relations notes, it’s difficult for any studio, even Disney, to leave $1 billion on the table.

“Audiences might not actually need Toy Story 4 but theaters desperately need it,” said Bock. “It’s very reflective of where we are today with sequels and continuing sagas. We’re at a point where three is no longer the magic number. It’s beyond that.”

It would be an unfair Buzz kill to call Toy Story 4 simply a blatant cash grab. Quality control is too high at Pixar to give us a Toy Story sequel on a par with, say, Jaws: The Revenge, or something that we collectively pretend never existed, like Godfather 3. Toy Story 4 is quite good, critics say. Though many reviewers have questioned its necessity, the film rates 99 percent fresh on Rotten Tomatoes.

Directed by veteran Pixar animator and firsttime feature filmmaker Josh Cooley, Toy Story 4 finds Woody and the gang now settled in with Bonnie. But Woody slips into another existential crisis of selfworth when Bonnie favors other toys, especially one she quickly crafted herself out of a spork and some kindergarten trash. She names him Forky, a neurotic character voiced by Tony Hale. When Forky goes missing on a family road trip, the resulting adventure forces Woody to confront the possibility of not only post-Andy life, but post-kid life.

It’s become standard business for franchises to slowly abandon the numbers that might too bluntly remind fans of their lengthy runs. The Fast and the Furious series understandably chose to title its upcoming installment Fast & Furious Presents: Hobbes

and Shaw over its almost shocking actual numerical value: Fast & Furious 9. Pixar, at least, hasn’t shied away from where this Toy Story fits in, even if its lead actor would have gone a different direction.

“It really should be called Toy Story: Forky,” said Tom Hanks. “Because it’s all about the Forky.”

Sequels have always been a somewhat touchy subject for Pixar. Since its groundbreaking first feature, 1995’s Toy Story (the first full-length computer generated animated movie), Pixar has, for much of its existence, eschewed repetition for originality. In his 2014 book Creativity, Inc., Pixar Cofounder Ed Catmull called quality “the best business plan” and suggested sequels can lead to “creative bankruptcy.”

Lately, things have been changing at Pixar, and not just because of a recent preponderance of sequels including Finding Dory, Cars 3 and Incredibles 2. Former Pixar chief John Lasseter, who directed the first two Toy Story films, exited the company last year after acknowledging “missteps” in his behavior with female staff members. In 2017, Rashida Jones departed Toy Story 4, which she was helping to write, and said then that the company had “a culture where women and people of color do not have an equal creative voice.”

Inside Out and Up Director Pete Docter, who has a story credit and is an executive producer on Toy Story 4, last year took over as Pixar’s chief creative officer. The studio’s next two releases will be originals: Onward next March and Docter’s own Soul, in June 2020.

And given Pixar’s unique stature as one of Hollywood’s few remaining factories of fresh storytelling capable of reaching mass audiences (its last original, Coco, grossed more than $800 million), some are rooting for Toy Story 4 to—really this time— be Woody’s last go-around. Not because they won’t watch another one, but because they will.

In a movie world of endless Star Wars episodes and even actors who can be digitally resurrected, closure—the kind preached in Toy Story 3—is increasingly a hard-to-come-by commodity. Not everything is meant to keep going for infinity and beyond. n The Associated Press’ Gary Hamilton contributed to this report.

The Dawn rocks the Bar 360 stage at Resorts World Manila RESORT World Manila’s (RWM) Bar 360 Concert Series presents another rocking on Saturday as legendary Pinoy band The Dawn takes the entertainment venue’s stage on June 22 and July 20, 10:30 pm. Bar 360 is at the first floor of the gaming area in the Garden Wing.

Last year, the band’s 12th studio album Ascendant was included in the list of best Filipino albums of the year by online social news network Rappler. Their journey back to their roots of catchy guitar riffs and vintage eight-track sound proved that true blue fans still find the band’s punk rock sensibility significant to this day.

Jett Pangan’s vocals seem to become even more refined with age as it complements the gritty orchestration from JB, Francis, Mon and Rommel.

With over three decades of music, The Dawn returns to the Bar 360 stage with promising new material, though fans can expect live performances of both classic hits and tracks from Ascendant such as the bluesy “Rock “Til You Drop,” the hard-hitting “MerryGoRound,” and the progressive “ProtoHuman,” among others.

Audiences will surely get a one-ofa-kind rock experience as The Dawn rocks Bar 360’s unique circular stage that’s illuminated under a canopy of state-of-the-art neon lights.

Get to enjoy delicious bar grub that’s perfect with beer and cocktails as you enjoy the show.

Audiences 21 years old and older may catch the special performances for only P1,000, consumable of food and drinks.

THE DAWN

Meanwhile, more exciting acts perform in RWM’s nightly acoustic hub El Calle Food and Music Hall at the Garden Wing, and world-class

acrobatic performances at The Grand Bar at the Grand Wing.

More information is available at RWM (www.rwmanila.com).

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, June 21, 2019

E1

THE new EcoSport 1.5-liter variant

NEW and more powerful 1.5-liter TiVCT three-cylinder engine

THE rear end with also received several changes

FRESH dashboard layout plus the new touchscreen infotainment

Moto

Business

E2 Friday, June 21, 2019

8 THINGS TO REMEMBER FOR A SAFER BIKE RIDE

THE ALL-NEW EV D

Story & Photos by Patrick P. Tulfo

URING the 15th Manila International Auto Show (Mias) held in April, Chris Ward, president of Coventry Motors Corp. mentioned that they wanted the new Range Rover Evoque to be part of their display but unfortunately it was still in high seas as he spoke—making the audience a hearty laugh after that comment.

H

EAVY traffic, air and noise pollution, and road rage are some of the challenging realities every city dweller faces.

Traveling on a motorcycle, therefore, has become a practical choice for many to help them overcome these daily struggles and to avoid sitting on congested roads for hours.

To save time, bike riders often weave between trucks, cars and other motorbikes—making them even more susceptible to accidents such as crashing into or getting sideswiped by other vehicles, slamming into lamp posts and other objects on the road, or worse, hitting and hurting pedestrians.

To ensure a hassle-free and safer drive on traffic-choked streets, here are some points to take note of when riding your motorbike: Be alert. You are in the best state to bike when you’re awake and alert.

Avoid riding when you’re sleepy, had even a sip of alcohol, or are already exhausted from a long day at work.

Be familiar with traffic rules.

Knowing the to-do’s while on the road can save lives, especially yours.

There are wise reasons behind most traffic regulations, so sticking to the rules is a must.

Check your tires. It’s vital to check and cross-check your bike’s condition before hitting the road.

Check for any bulges or cracks on your tires. Your tire pressure affects the handling of your bike, so it is best to follow the recommended pressure for your tires.

Adjust your chain. Give that chain a quick pull with your finger to ensure it’s not too tight or too loose. Long-distance trips accelerate the wearing of your chains.

Replace the entire assembly if it’s already worn out.

Change your oil. Engine oil is the life blood of a motorcycle.

Check your oil levels before going on a ride, and change it religiously.

Regular oil changes, along with choosing the right brand, ensures

engine protection from overheating and abuse, and leads to better bike performance.

Tune up the engine. Clean up those filters, tighten your valves and address all leaks. Losing a grip on your bike while in motion is not something you’d want to happen, so before going anywhere ensure that your engine parts are on point.

Check the brakes. Test your front and rear brakes. Ensure that they feel firm and are able to hold the motorcycle still when fully applied.

Wear the proper gear. Riding responsibly is never a waste of time.

Wearing helmets and motorcycle clothing can make a big difference and protect you from potential harm.

Filipinos pride themselves on having a sense of walang bibitaw, the attitude of never letting go despite all hardships and challenges.

By adapting these tips to your daily ride, you not only win your daily road battles, but also help keep your communities safe.

Fast-forward, the Range Rover Evoque has finally landed in the country and just as Ward promised, a grand launch was held in Bonifacio Global City last Thursday, June 13.

The new Evoque is bigger and wider than its predecessor, which made its debut back in 2010 and has garnered more than 220 awards since its inception. The new Evoque is expected to continue and even surpassed the achievements of that previous model.

Based on the Velar platform, allnew Evoque now uses Land Rover’s new premium Transverse Architecture, its wheelbase is now 100 mm longer than the previous model.

Ward said later that the changes in the length and width in its platform makes it readily available to accommodate the necessary components for both plug-in and mild hybrid systems.

Banking on the Land Rovers recognizable looks, the all-new Range Rover Evoque has coupe-like silhouette typified by its distinctive fast roofline and rising waist amplified by its pronounced shoulder and powerful wheel arches that houses 20-inch wheels.

The premium looking super-slim LED headlamps upfront and new tail lamps cluster at the rear completes the distinctive styling.

The flush door handle on the other hand doesn’t only provide a seamless door design but more important provides an added aerodynamic that helps lower the drag coefficient further.

The interior, meanwhile, benefits greatly from the increased wheelbase as there is now an extra 20 mm of knee space. There are also new storage spaces located at the front and the rear.

Luggage space likewise has been increased by 10 percent or 591 liters,

it can now easily fit a set of golf clubs or two flight suitcases side by side.

If that is not enough there is a total of 1,383 liters of space when the 40:20:40 second row seats are folded.

The sophisticated cabin makes use of two-tone perforated leather seats for the R-Dynamic and HSE models and perforated grained leather for the SE variant with a 16-way seat control.

The twin 10-inch touchscreen Touch Pro Duo System now has a faster software and together with Meridian sound system it promises to deliver an unparalleled listening pleasure.

The latest Evoque now features an advance All Wheel Drive system and second-generation Active Driveline which disconnects to enhance efficiency and adaptive dynamics.

It uses Terrain Response Technology found in its full-size sibling, the system automatically detects the surface that it is driven on and adjusts the setup accordingly.

The new Evoque is now also taller with a water wading capability of 600 mm up from the previous 500 mm while ground clearance is at 212 mm.

The all-new Evoque also has the latest all-terrain technologies such as Hill Descent Control, Gradient Release Control and All-Terrain Progress Control. This complements the SUV’s active safety features, such as Lane Keep Assist, Autonomous Emergency Braking (for R-Dynamic and HSE models only) and Driver Condition Monitor to keep occupants safe.

But what makes the Evoque unique in its segment is the world’s first “Clear Sight Ground View Technology,” which makes the bonnet invisible by projecting camera imagery onto the upper touchscreen. To show the driver a 180-degree view under the front of the vehicle.

THE two Evoques were driven in style right after its

CHRIS WARD, president of Coventry Motors Corp. pos

This is useful when tackling rough terrain, negotiating difficult parking spaces and navigating high city curbs.

The new Range Rover Evoque is the first luxury compact SUV to be

NEW CALTEX ENGINE OILS ENSURE WORRY-FREE ROA Story & photo

by Randy S. Peregrino

C

HEVRON Philippines Inc., (CPI) is providing Filipino motorists a whole new reason to enjoy driving. They recently released a new line of Caltex advanced engine oils specifically formulated for maximizing engine life while maintaining high power and performance even under the most severe conditions. So wherever it may be— urban, countryside, on-road or offroad—these new engine lubricants will definitely deliver.

“By protecting your vehicle, we are also protecting your investment.

For more than a century, motorists have relied on Caltex’s full line of lubricants, transmission fluids and coolants to meet the intense demands of their vehicles. We never fail when it comes to fuel economy, performance and reliability,” said CPI Technical Manager Manuel Valerio.

Delo Sports Advanced SAE 5W-40

FORMULATED with ISOSYN Advanced Technology, the Delo Sports Advanced SAE 5W-40 is a super-premium quality “low SAPS” (sulfated ash, phosphorus and sulfur) synthetic diesel engine oil. It provides ultimate protection for sport-utility vehicles (SUV), high-performance pickups, 4x4 vehicles, and the likes, including those with the latest low emission diesel engines.

Off-road vehicles and SUVs require extensive amounts of engine power to tackle rough terrains while carrying heavy loads. With Delo oils, diesel motors are protected while constantly producing high torque and power at low speeds. The Delo Sports Advanced SAE 5W-40 meets the API-C series required standards.

Havoline Formula SAE 10W-30

DESIGNED for gasoline engines, the Havoline Formula SAE 10W-30 may be as affordable as any mineral oil out there but it’s big on benefits. It caters

THE new heavy-duty engine oil Delo Sports Advanced SAE 5W-40, Delo Sports Synthetic Blend 10W30, Techron D Concentrate and the new Havoline Formula SAE 10W-30 CHEVRON PHILIPPINES

THE Havoline Formula SAE 10W-30 that we tested

to passenger cars and light commercial vehicles requiring low viscosity. This multigrade oil is a resource-conserving and specifically engineered with Deposit Shield Technology. This advanced detergent formula unique to Havoline products, prevents deposit

increases engine durability. With the Havoline Formula SAE 10W-30, car engines are guaranteed to reduce fuel and oil consumption, thus big savings. Likewise, it delivers well in terms of deposit control and wear protection, ensuring durable pro-

buildup. Further, the 10W-30 viscosity grade is intended for fuel efficiency and a popular grade recommended for Japan and American car models.

This Havoline formulation, meantime, aids in sustaining engine power, improves oil stability and

tection in between oil change cycle.

The Havoline Formula SAE 10W30 is not only easy on the pocket but also big on benefits when it comes to emission system and turbocharger protection. Stop-and-go city driving or the highway cruising on the countryside, all trips are now worry-free.

This oil also qualifies for the API performance standards of ILSC GF-5 and SN-RC (resource conserving), ensuring safe driving.

“We at Caltex never stop creating innovations that meet the needs of riders. We want to give all kinds of riders the drive, the empowerment, the maximized protection and the fuel economy benefit to keep going,” shared Hafiz Nasar, area business manager of Chevron Lubricants for Philippines.

Actual improvements and benefits

MEANWHILE, CPI was generous enough and provided us one of its new oils for actual testing. Driving a 16-year-old car motivated by a gaso-

oring

sMirror

Friday, June 21, 2019

VOQUE HAS ARRIVED

E3

Lalamove partners with Seaoil

LALAMOVE Strategic Partnerships Manager Akiko Sumulong (from left), Seaoil President for Retail Business and CFO Mark Yu, Lalamove Managing Director Dannah Majarocon, and Seaoil Corporate and Consumer Marketing Vice President Javyee dela Fuente

S

EAOIL Philippines Inc. (Seaoil), the country’s leading independent fuel player has signed a partnership with the leading on-demand delivery app, Lalamove. Through the partnership, more than 30,000 Lalamove partner-drivers in Luzon and Cebu will be given an exclusive co-branded Seaoil VIP Club card.

Using the card, Lalamove motorcycle, MPV, and light truck partner-drivers will earn six points for every P100 gasoline purchase, and two points for every P100 diesel purchase.

A P5 discount will also be extended for every one liter of lubricant purchased.

A unique attribute is the card’s cash redemption feature, available once Lalamove cardholders reach a minimum of 100 points.

And since Lalamove cardholders belong to the highest VIP Club tier, one point is equivalent to P1.

“The partnership is part of our effort to provide better products and services to fleet and delivery motorists. We hope the Seaoil

VIP Club card will draw more customers to make the most out of Seaoil’s imported and high-quality fuels and lubricants,” Seaoil CEO Glenn Yu said.

“Lalamove aims to partner with prestigious companies with the most relevant benefits, and I’m sure our Lalamove partnerdrivers will greatly appreciate Seaoil’s cash redemption feature. This will not only help them in their main expense which is fuel, but also help them save up for other day-to-day needs,” shared Lalamove Managing Director Dannah Majarocon.

The co-branded cards can be claimed in Lalamove offices in Makati, Quezon City, Alabang and Cebu beginning on June 20, 2019.

As part of the partnership, every Lalamove partner-driver with a minimum spend of P150 from June 25 to July 25 will get P50 rebate when they pay through the GCash App. This is available in 31 of the 50 participating Seaoil stations.

Say ‘I do’ to a new ride with Hyundai introduction

ses beside their newest offering

certified under the stringent New Nitrogen Oxide emission targets, Real Driving Emission stage 2 (RDE2) legislation in Europe. This legislation states that a vehicle must emit 80mg/km or less of NOx. This

AD TRIPS

line engine, the Havoline Formula SAE 10W-30 was up for the task. Previously been utilizing low viscosity oils, we expected no issue from the 10W-30. One of the noticeable effects immediately after the oil change was the quieter and steadier engine idle. But since it was fresh oil, we thought of waiting after a considerable amount of distance travel before observing again.

Several hundred kilometers after, engine idle was still quieter and steadier.

But one evident observation was how the torque at low end rpm range has improved.

As a result, the car is now quicker at low end ranges. This also contributed to the improved fuel economy using 95 Octane gasoline fuels. Even during the hottest times last summer season, never did the engine temperature showed signs of rising over normal level. The best part was it felt like the engine is now running better than ever despite its age.

The Havoline Formula SAE 10W-30 and Delo Sports Advanced SAE 5W-40 are sold in Caltex stations, auto supply shops, leading hardware stores and online retailers.

THE all-new Range Rover Evoque up close

puts the all-new Evoque ahead of the pack as the R2DE legislation will take effect in the year 2020.

This feat was achieved using lowfriction engine design.

The Mild Hybrid Electric Ve-

hicle (MHEV) option is even more impressive though, it boasts of an efficient 48V mild hybrid powertrain designed to reduce emission further and improved fuel economy with no plug-in charging required.

This reduces CO2 emissions to as low as 149g/km and fuel economy from 50.4 mpg or 5.6 liter per 100 km (based on the NEDC equivalent test procedure).

The all-new Range Rover Evoque will be offered in four variants here in the country and they are SE 2.0 diesel, which is priced at P5.090 million; R-Dynamic HSE, 2.0 Diesel at P5.490 million; R-Dynamic 2.0 Petrol at P5.590 million; and the top-of-the-line R-Dy namic HSE MHEV 2.0 Petrol at P6.190 million. The all-new Range Rover Evoque will also be offered in a Black Limited Edition on the three R-Dynamic models. Takers will have to pay an additional P100,000.

All models come with a five-year service plan. Interested buyers can now place their reservations at All British Cars Inc. located at 1008 Edsa, Greenhills, San Juan.

Suzuki pumps up car enthusiasts I with a two-day Fun Fair Test Drive P IONEER compact car distributor Suzuki Philippines drives its way to every Juan with more fun and exciting treats with the Suzuki Fun Fair Test Drive.

Simultaneous test drives nationwide will be held on June 22 and 23, 2019, at select Suzuki dealerships. Car enthusiasts and the general public will have a chance to experience firsthand driving Suzuki’s key models—such as the Suzuki Vitara, all-new Dzire, all-new Swift, all-new Ertiga and Ciaz—during this two-day fair.

Select Suzuki dealerships in Metro Manila, Luzon, Visayas and Mindanao will be opening their doors during the Fun Fair Test Drive with fun activities and prizes for everyone.

Special discounts and exciting freebies await those who will order upon testing any of the Suzuki Philippines vehicles.

Mark your calendar and visit the Suzuki Philippines Facebook page to check out the participating dealerships near you.

See more and experience the #SuzukiWayOfLife as you test drive a Suzuki vehicle this weekend.

N the Philippines, June is the month when most couples take the next step in their relationship. The abundance of “June brides” has made the month the perfect time for weddings, upping the chances for the best rates and schedules, so couples can achieve the wedding of their dreams.

Whether you’re getting married or not, you can still feel merry for the month of June by achieving the ride of your dreams. It’s possible with Hyundai’s “Here Comes The Ride” promo that offers the sweetest deals for a brand-new Hyundai Tucson, the all-new Accent, the new Santa Fe, the Grand Starex, the Kona and the H-100—minus the stressful financial commitments!

Here Comes The Ride is giving you the chance to say “I do” to becoming a brand-new Hyundai owner, thanks to great discounts and affordable financing schemes that may come in low monthly or low down payment deals, and even affordable initial cashout rates. If you’ve been dreaming of blazing through the streets in your own Tucson, now you can get it for an initial cashout of only P46,200. The new Santa Fe and the Grand Starex can make your family trips sweeter and more luxurious

with up to P100,000 discount. If you want a partner that’s full of style and substance, the all-new Accent can be yours for as low as P8,776 a month.

Business-minded folks who are looking for a reliable workhorse that won’t quit on them can get the H-100 for as low as P13,864 a month, while those who have the thirst for adventure can stand out and lead the race with the Kona for as low as P13,330 a month.

Now is the time to take your commitment goals to the next level and get going in the journey you desire.

Get the Hyundai of your dreams by heading to your nearest authorized Hyundai dealership today, and make motoring bliss a reality with Hyundai’s Here Comes The Ride promo!

This June promo is made possible

by Hyundai Asia Resources Inc., the official distributor of Hyundai passenger vehicles in the Philippines, in partnership with BPI, RCBC, Chinabank Savings, East West Bank, UCPB and MayBank. Promo runs from June 5 to 30, 2019, only. So hurry to the Hyundai dealer nearest you to know more about the exciting offers! You may also log on to hyundai.ph or facebook.com/hyundaiph for the latest news on Hyundai cars and promos.

Motoring BusinessMirror

E4 Friday, June 21, 2019

Winning comes in many forms; Socco speech

I

T feels fine always if people you know always remember you— especially your good times together. Raymond T. Rodriguez is simply one of the guys who values friendship—if not memories of whether long ago or not shared with fondness, in bad or in good times.

Last weekend, Raymond—RTR to those close to him—picked me up early to fulfill a “personal mission” of his to make me continue a job I thought I had lost already.

That is, as captain of the Lexus Team in the Phoenix Fuel ARRC Rally at Clark last Saturday. I was flattered to the max.

It’s a tradition started by Danny “Sir John” Isla, the founding Lexus Manila president in 2009, who made me Lexus captain in the rally founded/revived in 2010

by Ray Butch “Elvis” Gamboa of Motoring Today fame.

Even as Sir John has retired some three years ago, RTR, as fitting successor to the Lexus throne, has maintained the old, winning Lexus formula: We race to win friends and treat winning the championship trophy as just being incidental.

In the just-ended rally where Lexus was the lone high-end auto participant among 10 car companies fielding three models each

(Lexus shone brightest with its LX570, LS 500 and UX 200 F-Sport in the rally)—that alone made us the winner already.

RTR and I strongly believe we emerged from the competition more than a winner as we made some kids from the Aeta tribe selling avocados and camotes at Clark doubly happy. Reason? We bought all their stuff on our way home.

If that’s not being also a protector/lover of the marginalized, if not of our ethnicity, what is?

Indeed, the face of a winner comes in many forms.

RTR was just too happy bringing home avocados, his wife’s favorite fruit.

H ER E ’s t he cont i nu at ion of t he Toyot a Hybr id d iscou rse recent ly by Vince Socco, TM A P e xec ut ive v ice president: “ACT UA LLY, we a re a lso ver y encouraged by the grow th of elect r if ied veh ic les in A si a.

“Already, there has been a significant growth in the take-up of our self-charging electrified vehicles in the last four years alone.

“We have been accelerating electrified vehicle development faster than before and will continue to provide electrified vehicles bestsuited to our customers in each market and every town.

“In the second challenge, Toyota aims to achieve zero CO2 emissions throughout the entire life cycle of the car.

This challenge not only covers emissions produced in manufacturing but in every potential CO2-emitting process, starting from materials production to t he vehic le event ua l ly being disposed and recycled.

“While we focus to achieve Zero CO2 emissions throughout the life cycle of the vehicle by 2050, we set an interim target of 25 percent by 2030.

“This is done by developing and expanding the use of materials with lower CO2 emissions, as well as reducing the quantity of materials and parts used in each vehicle.

More recycled and eco-friendly materials are being adopted, so each vehicle is simplified for easy dismantling.

New Camry

“THE new Camry, launched in August 2017 in Japan, has a life cycle CO2 emissions that are approximately 19 percent lower compared to the previous model.

The power train and platform were totally renewed based on the Toyota New Global Architecture, resulting in significant CO2 emissions reduction in driving.

“In terms of supply-chain collaboration, we implemented a good number of initiatives focusing on sustainable logistics.

“Toyota in India, for example, managed to reduce CO2 emissions from logistics by 28 percent over five years.

“We are accelerating our gains

in this area through closer communications with stakeholders such as suppliers and dealers.

“Moving on to Challenge 3, this focuses on achieving zero CO2 emissions at all of Toyota’s manufacturing plants by 2050.

“While our ultimate goal is to reduce CO2 emissions to Zero by 2050, we aim to reduce CO2 emissions by at least 35 percent from all plants by 2030.

“Our efforts include equipment optimization and the use of waste heat energy produced from existing manufacturing processes. We use every possible means to reduce CO2 emissions including introducing innovative processes that do not require external energy sources. For example, as much as possible, we use gravity to pull parts along production lines in our factories.

“Here are some of the improvements adopted at the Toyota plant in India that have drastically brought down their plant CO2 emissions.

“By replacing 40,000 units of Compact Fluorescent Lamp lighting, or CFL lighting, with Light Emitting Diode, or LED, the plant facility has reduced CO2 emissions by as much as 4,428 tons per year.

As we know, LED lighting is more energy-efficient and long lasting.

“Similarly, we implemented energy efficient air-conditioning, which has significantly brought down the CO2 emissions by 652 tons per year.

“A not he r ste p u nde r t h i s challenge highlights our key action on renewable energy—the installation of state-of-the-art solar panels.”

“ ON E e x a mp l e s ho w c a s e s a new method using centrifugal force to collect paint that does not attach to the car body. The method makes the equipment more compact and reduces pressure loss, thereby reducing CO2 emissions.

“In 2014, the new technologies have already been adopted on the painting line for Prius production in Toyota’s Tsutsumi Plant in Japan, reducing the CO2 emissions by 35 percent. We plan to expand this to other plants in Japan and overseas, as well.

Butch “Elvis” Gamboa, founder of Motoring Today (longest running TV show on the auto industry), has totally recovered his speech after suffering a stroke. Jenny Bleza, though, insisted on stopping, together with Elvis’s son Wee, Elvis from joining us at Elvis’s iconic rally at Clark, in obedience to doctors’ orders…Glad to see Nlex hotshot Junji Quimbo at Clark together with Allan Gregorio. Both guys made sure Nlex was properly represented in the Rallye that Nlex had been vigorously supporting all these years. Cheers!

Prius production

To be continued

PEE STOP Nice to know that Ray