Businessmirror June 28, 2019

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Friday, June 28, 2019 Vol. 14 No. 261

‘Congress, economic team must avert veto’

By Rea Cu

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@ReaCuBM

OOKING to avoid the passage of legislation that could unduly upset the fiscal balance and the resulting veto of such, the Department of Finance (DOF) has proposed weekly meetings between the economic team of the Duterte administration and Congress leaders.

In a statement on Thursday, Finance Secretary Carlos G. Dominguez III said the weekly meetings will enable the Executive and Legislative branches to thoroughly discuss and move ahead on urgent

measures to benefit the people in the second half of the Duterte presidency.

“I propose that the economic team and Congress engage more frequently so that we can mutu-

ally move forward with legislation that truly contributes to the common good. In this direction, the DOF is already reorganizing to assign more full-time directors and staff to engage with Congress

“These vetoes do not mean that we do not support you. The President’s vetoes invite us to take another approach.”

—Dominguez

on a weekly basis,” Dominguez said.

More frequent engagements, he said, will prevent bills approved by Congress from being vetoed by the President for going beyond the limits of fiscal discipline strictly observed by the Duterte administration to fulfill its goal of high, sustainable and inclusive growth.

See “Congress,” A2

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PESO EXCHANGE RATES n

Jasper Emmanuel Y. Arcalas

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

GOVT SETS CONDITIONS FOR ASF PAYOUTS

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE government would only compensate hog raisers whose pig population would be culled by officials in the event of an African swine fever (ASF) outbreak in the country, according to the Bureau of Animal Industry’s (BAI) contingency plan.

In its ASF Contingency Plan, BAI indicated that the indemnification of farms would “only be applied for animals that are killed during the culling operations.”

Raisers whose hogs died after contracting ASF will not be eligible for compensation, except if their farms are insured by state-run Philippine Crop Insurance Corp. (PCIC).

“Compensation or indemnification shall only be applied for animals that are killed during the culling operations,” the contingency plan, which has been updated for the fourth time, read.

The contingency plan noted

that eligible famers should be“fairly compensated” to aid them cope with their losses due to the destruction of their farm pigs and products.

Under the plan, the government shall pay eligible farmers based on the prevailing farm-gate price of the culled animals, as determined by the Department of Trade and Industry, and Department of Agriculture (DA).

In an interview with the BusinessMirror, Joy O. Lagayan of the BAI’s ASF Task Force urged swine raisers to avail themselves of the PCIC’s insurance program.

The PCIC recently approved the inclusion of avian influenza (AI) and ASF on their list of “compensable perils.” The BAI and PCIC are both under the DA. “Take advantage of this and secure your livelihood, especially now that AI and ASF are a very much real and looming threat to our industry,” the BAI-ASF Task Force said in May. See “ASF,” A2

PHL stands pat on SSG for instant coffee imports

Room for growth

HOLMES said Canada is more than willing to cooperate with local livestock and poultry raisers to ensure a steady meat supply in the Philippines given the “exponential” growth in demand.

“We know that there is sensitivity in the pork industry here that it wants to see itself to develop and grow. [We understand] production is not enough for the local market and that is room for growth,” he said.

“We could have a scope for partnership without undercutting the different industries, but complementing and supporting the sectors through cooperation,” he added.

Holmes also urged the Department of Agriculture (DA) to implement meat-trade regulations that are science-based.

The Philippines was Canada’s fifth-largest market for pork in 2018. Canada Pork International data showed the Philippines imported 47,508 metric tons (MT) of pork valued at CAD101.227 million.

Meat products, particularly pork, are one of the top five commodities bought by the Philippines from Canada.

Last year the Philippines imported a total of 76,403.602 MT of Canadian meat products. The figure was 13.10 percent higher than the 67,550.053 MT the country purchased in 2017, according to Bureau of Animal Industry data.

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Envoy: Canadian meat products are safe to eat

ANADA has assured Filipino consumers and authorities that it observes stringent standards to ensure the safety of its meat products after China disallowed Canadian shipments over bogus documents.

Canadian Ambassador to the Philippines John T. Holmes said the decision of Beijing to disallow meat shipments from Canada due to the discovery of bogus veterinary health certificates is “very much a concern” for Ottawa.

“It is unfortunate that this has happened,” Holmes said during the BusinessMirror’s Coffee Club forum on Thursday.

“I am sure our officials are working on this as a priority since the meat industry is very important to our economy. We will do what we have to do to ensure that products are inspected and safe and meet international standards,” he added.

Beijing on Tuesday asked Canada to stop exporting meat products to China after it discovered 188 bogus pork export certificates.

Canadian Agriculture Minister Marie-Claude Bibeau said the Canadian Food Inspection Agency has “identified an issue involving inauthentic export certificates.”

Canadian pork exporters said they could shift to other markets—such as Mexico, the United States and the Philippines—once Canada halts shipments to China, according to a Reuters report, citing Canada Pork International.

2018 EJAP JOURNALISM AWARDS

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have published their nominated areas in the Sulu Sea, Northeast Palawan, and Ragay Gulf, and are open to receive challenges from other prospective investors.

The 60-day challenge period forthe Sulu Sea nomination will end at 11 a.m. of August 15; the challenge period for the Northwest Palawan nomination will end at 11 a.m. of August 18; while the challenge period for the Ragay Gulf nomination will end at 11 a.m. of August 20.

HE Philippines stood its ground on the imposition of a specia l safeg uard dut y (SSG) on instant-coffee imports, saying it did not omit any import figures in calculating its trigger price as claimed

by Indonesia.

During the World Trade Organization Committee on Agriculture (WTO-COA) meeting recently, the Philippines maintained that it did not import any instant coffee and other coffee extract products in 1987 or in 1988; thus, it used only 1986 import figures in calculating its trigger price.

This was the Philippines’s response to Indonesia’s query on why Manila supposedly omitted “the import and price data in1988” in its calculation of the trigger price for SSG on instant coffee and other coffee extract imports.

Under the WTO Agreement on Agriculture, countries should determine their trigger price by averaging the import price figures from 1986 to 1988.

“How could there be data for 1988 or even for 1987 when there was no importation in either 1988 or 1987?” read the country’s statement during the June 25 to 26 meeting. A copy of the statement was obtained by the BusinessMirror.

See “DOE,” A2

See “Coffee,” A2

CANADA’S Ambassador to the Philippines John T. Holmes gestures as he fields questions at the BusinessMirror Coffee Club forum on Thursday. He assured Filipinos Canada observes the highest standards to ensure the safety of its meat products. Other related stories on pages A2, A12. NONOY LACZA

11 firms seek DOE okay to explore in 6 sites

By Lenie Lectura

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@llectura

HE Department of Energy (DOE) said late Thursday it has received 21 requests for the issuance of Area Clearances from 11 companies that are interested to participate in the Philippine Conventional Energy Contracting Program (PCECP).

The requests cover portions of the Sulu Sea, Recto Bank, Palawan, Quezon, Albay and Mindoro.

Of the 21 requests, seven Area

Clearances have been issued as of June 25.

Area Clearances are issued by the DOE to inform interested parties that there is no overlap between the area/s they are looking to explore and other energy projects or restricted areas.

Of the seven companies that have received their Area Clearances, four have submitted their Letters of Intent for DOE approval and subsequent publication as a PCECPnominated area.

Meanwhile, three companies

US 51.5180 n JAPAN 0.4780 n UK 65.3866 n HK 6.5987 n CHINA 7.4877 n SINGAPORE 38.0375 n AUSTRALIA 35.9750 n EU 58.5811 n SAUDI ARABIA 13.7378

Source: BSP (27 June 2019 )

News

BusinessMirror

A2 Friday, June 28, 2019

www.businessmirror.com.ph

Canada tightens rules after garbage fiasco

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By Cai U. Ordinario

@caiordinario

HE Canadian government has given assurances that there won’t be a repeat of its trash faux pas in the Philippines or any other country in the near—or distant—future.

The long-drawn squabble that tested bilateral relations between close friends Canada and the Philippines after containers of garbage were shipped to the latter had resulted in one thing: stricter rules regarding the export of these items/materials were imposed by his government, Canadian Ambassador to the Philippines John T. Holmes said at the BusinessMirror Coffee Club roundtable on Thursday.

Holmes said the 69 containers of garbage shipped to the Philippines in 2013 and 2014 are set to arrive at the Port of Vancouver on Saturday. This, he hoped, is the official end to this issue “forever.”

“It’s taken a while to get it reshipped in the region, and then once it arrives there, it will be inspected and taken into a facility and destroyed, and that will finally be the end of the trash issue forever,” Holmes said.

A takeaway from the transocean row was that Ottawa changed the way it clears the export of such controversial cargo. “We’ve changed our regulations so that basically

Subic. . .

Continued from A12

Eyeing ties between the Port of San Diego and Subic Bay, Eisma also met separately with San Diego Port Commissioner Rafael Castellanos and Director Matthew Andersen of the US Commercial Service in San Diego, and San Diego International Airport Senior Director Hampton Brown and Domenic D’Ambrosio, VP for Marketing and Innovation.

At a business forum in San Diego on June 14, Eisma said she highlighted Subic investment opportunities in manufacturing, shipbuilding, ICT, renewable energy, retirement, leisure and tourism.

DOE. . .

Continued from A1

“We need to increase exploration and development activities in the Philippines so that our country can become energy self-sufficient. The DOE is continuously pushing for the success of the PCECP for the effective, responsible and reasonable development of all our indigenous energy

ASF. . .

Continued from A1

Under the ASF Contingency Plan, the national government and local government units (LGUs) shall share the responsibility of financing the needs in eradicating the disease in case of outbreak.

They would also share the responsibility of providing indemnification to affected swine farms.

Under the plan, the BAI shall allocate funds for the operational expense during the eradication campaign while regional field offices of the DA shall fund the compensation for livestock owners.

The LGUs should also allocate funds as counterpart for either compensation or operational activities expenses, according to the contingency plan.

In case of outbreaks, ASF-infected pigs would be slaughtered through approved humane processes, such as allowing the Philippine National Police to shoot the animals using a gun of not less than 0.22 caliber, and stunning and sticking.

“Slaughter of animals shall be done in the presence of a licensed veterinarian.

Reflexes will be checked after the human process of euthanasia,”the document read.

The destruction and disposal of infected pigs would be done through various ways approved by the Department of Environment and Natural Resources.

The disposal procedures include incineration, field burning, burying, and a combination of burning and burying.

“These shall be done as soon as possible to prevent the spread of infection by fomites, vectors and other means,” the contingency plan read.

The BAI updates and revises the ASF Contingency Plan once it receives new information related to the fatal swine disease.

Manila has stepped up its implementation of anti-ASF measures to protect its P200-billion domestic hog industry after neighboring Southeast Asian countries were struck by the fatal swine disease.

ASF is now in Lao PDR, the third Southeast Asian country to be hit by the disease. The DA banned pork products from Laos after it recently confirmed outbreaks of ASF.

any export of that item/material would have to not only require import and export permits, but the government concerned would have to agree,” he said.

Holmes said that contrary to what has been projected in the media, the Canadian government was committed to addressing the issue even before the President set a deadline for Ottawa to take back the trash it shipped to Manila.

The Canadian ambassador told journalists from the BusinessMirror, Philippines Graphic magazine, Pilipino Mirror, DWIZ and CNN Philippines that one of the reasons the issue lingered were the technical requirements that needed to be addressed before the trash could be shipped back to Canada.

Holmes said that at one point, the shipping company would not even agree to bring back the trash to Canadian shores. Addressing these issues, he said, were done through the tireless efforts of both governments.

PHL counterparts lauded

“MY colleagues were following up on a

constant basis, and we were all on e-mail and messaging contact, and throughout this whole process the cooperation that we got from the Philippine authorities was outstanding,” Holmes said.

“I don’t want to single out particular people, but Secretary [Teodoro] Locsin did a fantastic job, his officials were very supportive. Secretary [Roy] Cimatu and his senior officials, we all were working with one objective in mind, and that was to get the trash out of here as fast as we could,” he added.

In April, the President ordered the Department of Finance to return the hazardous waste back to Canada immediately or else he would do it himself.

Should Canada illegally ship hazardous trash to the Philippines anew, Duterte earlier said he would order the Bureau of Customs to not allow any ship from Canada to dock in Philippine ports.

The Chief Executive also issued a dire warning that he will declare war against Canada if they would not take action on the trash they dumped in the Philippines.

Eisma’s US trade mission successfully concluded with her receipt of two awards: a “Bayani” award from the Olongapo City Bayanihan Club (OCBC) of San Diego County, and a citation from National City Vice Mayor Ron Morrison.

The first, signed by OCBC Chairman Elen Nobles and Vice Chairman Jimmy Yap, recognized Eisma’s exemplary contributions “by opening channels of opportunities in job creation, business development and community-based programs,” and hailed her as “a radiant symbol of optimism to the Filipino communities globally.”

The citation from Morrison, meanwhile, cited the SBMA official for “her vision and inclusive leadership in public service by creating economic opportunities for the families of Olongapo City with ties in San Diego, California, USA.” resources,” Energy Secretary Alfonso G. Cusi said.

Under the PCECP, investors may engage in upstream exploration or development activities in two ways: One, choosing an area from the 14 Pre-Determined Areas offered by the DOE. The application period for the PDAs will end at 11 a.m. of August 19. Two, proposing their own areas for exploration, which begins by requesting for an Area Clearance.

Coffee. . .

Continued from A1

“Since there were no importations of subject coffee products in 1987-1988, the trigger price that the Philippines notified to the WTO is only based on the importation in 1986,” the Philippines added.

Different products

IN a communication submitted by the Indonesia to WTO, Jakarta disclosed that they found out that the Philippines’s notified trigger price “has far exceeded” the correct average price of imports of instant coffee and extract coffee” as determined by pertinent WTO legal texts.

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

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

Indonesia disclosed that its exports of instant coffee and coffee extracts to the Philippines in 2018 were “adversely affected” by the latter’s imposition of SSG. The Philippines pointed out that the import figures in 1987 and 1988 that Indonesia is using pertain to coffee products of different tariff nomenclature. This, the Philippines noted, are “definitely not the ones that are subject of the price SSG” imposed by Manila.

“Unfortunately, the same provision [AOA Article 5.1b] does not provide for any creative interpretations of the calculation—as Indonesia has been suggesting—for arriving at a different trigger price in absence of any importation in 1987 and 1988,” the statement added.

The Philippines maintained that the only correct trigger prices for the imported coffee products being questioned by Indonesia are the figures Manila notified to the WTO almost 20 years ago.

Open for bilateral

AFTER the Philippines’s statement, Indonesia responded that its “focus” is on roasted chicory, a new ingredient widely used in instant coffee, a source familiar with the matter said.

Indonesia explained that chicory sometimes comprised up to 30 percent to 50 percent of instant coffee formulation, the source added.

“Indonesia asked the Philippines to include the import price of this new ingredient for year 1986 to 1988 and correct its trigger price notification to the WTO,” said the source, who is not authorized to speak on behalf of the two countries.

The Philippines welcomed Indonesia’s explanation and asked Jakarta to continue bilateral talks to iron out its concerns over Manila’s trade measures.

“The Philippines said it was educated by this new information and will restudy the situation. It invited Indonesia for bilateral talks, to which Indonesia agreed,” the source added.

Jasper Emmanuel Y. Arcalas

Congress. . .

Continued from A1

“These vetoes do not mean that we do not support you. The President’s vetoes invite us to take another approach,” he added, openly addressing the members of Congress.

To maintain fiscal discipline, Dominguez said, Duterte had to veto some bills approved by the 17th Congress, a move that actually helped the Philippines secure a higher investment-grade credit rating of “BBB+” from Standard & Poor’s (S&P) Global on April 30.

In the 17th Congress, 147 bills proposed by lawmakers were seen to either erode revenues by P178 billion or mandatorily add P799 billion to the budget, with an additional 31 bills seeking to create more economic zones.

According to the DOF, the country already has 546 of these tax-free areas as of 2017, all contributing to massive leakages in revenue collection.

“We do not think this is how we should do policy—that is, create more tax-free zones or sectors, and ask other Filipinos to pay for these incentives.

Surely there is a better way to help everyone,” he said.

Dominguez explained that fiscal discipline guarantees not only prudent state spending, but also ensures the government has enough resources so that new measures do not take away money from millions of poor Filipinos who also need help through existing programs.

He pointed out, though, that laws such as the Tax Reform for Acceleration and Inclusion Act (TRAIN), the first package of the Duterte administration’s comprehensive tax reform program (CTRP); and the Rice Liberalization Law, which imposes tariffs on rice imports in lieu of quantitative restrictions (QRs), will be the 17th Congress’s lasting legacy to the Filipino people.

“You did what is right so that we can provide every Filipino the means to live a better life. I have no doubt that generations of Filipinos will thank you deeply, Dominguez said as he cited the outgoing Congress as“among the most productive and hardworking that I have ever seen.”

18th Congress agenda

FOR this year, the DOF is pushing the approval of the rest of the measures under the CTRP, especially Package 2, which aims to reduce the corporate income tax (CIT) rate to put it on a par with the regional average, and rationalize fiscal incentives to make these specifically targeted, time -bound, per formance -based and transparent.

Members of the Duterte administration’s economic team include the DOF, the Department of Budget and Management, the Bangko Sentral ng Pilipinas, and the National Economic and Development Authority (Neda).

The 18th Congress will start session on July 22, 2019, in time for the President’s State of the Nation Address.

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PNP: We ‘submit to the wisdom’ of the President

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HE Philippine National Police (PNP) on Thursday said it “submits to the wisdom” of President Duterte, even as it stressed it would continue to enforce laws and regulations against illegal gambling “We submit to the wisdom of the President Rodrigo Roa Duterte in his expression of preference to ‘jueteng’ than to drug trafficking as means of livelihood by some people among the poorest sectors of society,” said PNP Spokesman Col. Bernard Banac in a statement issued on Thursday.

“We have observed in the past decades that when the PNP went all out against jueteng during its peak, street-level jueteng activities evolved into illegal drugs trade because some displaced jueteng workers had no other alternative source of livelihood, aside from the fact that drug trafficking is more profitable than jueteng, he added.

Duterte said earlier that he may allow the operations of jueteng as it is a “lesser evil” compared to illegal drugs.

He said if he goes all out against the illegal numbers game, people may revert to illegal drugs.

But Banac said that despite the President’s position, they would still implement laws and regulations against the operation of jueteng, while supporting state-sanctioned games and lotteries.

Nonetheless, the PNP cannot afford to be remiss in its duty to enforce the law against both illegal gambling and illegal drugs.

“Thus, the PNP will continue to enforce the law against illegal numbers games, particularly jueteng, ‘masiao,’ and last two as provided under PD 1602,

as amended by RA 9287,” he said.

“At the same time, the PNP will continue to support the regulated numbers game operations of the Philippine Charity Sweepstakes Office through the Small Town Lottery as a legalized alternative to jueteng,” Banac added.

Meanwhile, members of the PNPIntegrity Monitoring and Enforcement Group (IMEG) arrested a police major during an entrapment operation right inside his office at the headquarters of the Highway Patrol Group (HPG) at Camp Crame on Wednesday.

Maj. Raul Salle, deputy chief for operations of the HPG, was arrested after receiving P412,120 in marked money from complainant, Maria April Ochenta, an overseas Filipino worker and a resident of Maricaban Street, Barangay 184, Pasay City.

The operation against Salle was supported by the HPG through its director, Brig. Gen. Roberto Fajardo.

According to the IMEG, Salle demanded the money from Ochenta in exchange for the release of her car, a Mitsubishi Adventure GLS with Plate No. ZSR 711, which is under the custody of the arrested suspect.

In a related development, the PNP has also announced the designations of three police officials to new posts, effective on Thursday.

Brig. Gen. Rene P. Pamuspusan was named as the new regional director of Police Regional Office 6 (PRO 6); Brig.

Gen. Jesus D. Cambay Jr. as the director of the Headquarters Support Service; and Col. Remus Zacharias P. Canieso as acting deputy regional director for administration of the PRO 6. Rene Acosta

Editor: Vittorio V. Vitug • Friday, June 28, 2019 A3

PHL not waiving EEZ rights in South China Sea to Beijing

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HE Philippines is not waiving its rights to exclusive waters in the South China Sea, President Duterte said on Thursday, walking back on an earlier stance allowing Chinese fishing that some officials said was unconstitutional. “ The President will not relinquish our sovereign rights over our country’s exclusive economic zone,” President Duterte’s Spokesman Salvador Panelo said in a news statement early on Thursday, adding the President’s decisions are in accordance with the Constitution.

Duterte also spoke to other Southeast Asian leaders at the weekend Asean summit about “the dangers of China’s vague demarcation line claim” and the need for Beijing to adopt a code of conduct in the disputed sea, Panelo said.

The Philippine leader, in a speech on Wednesday night, said he can’t stop China from fishing in his country’s exclusive waters even if he wants to, claiming that this will only result in a confrontation.

“If I want to prohibit Chinese

fishing, how do I enforce my desire? Even America won’t do so out of fear of confrontation there,” Duterte said.

‘Nothing wrong’

MALACAÑANG added it is “constitutional” for the President to enter into a “mutual agreement” with Chinese President Xi Jinping, which Duterte said allowed Chinese fishermen to fish in the Philippine exclusive economic zone (EEZ).

In a Palace briefing, Panelo said “there is nothing wrong” with Duterte and Xi’s agreement.

When asked if such an agreement is constitutional, Panelo said: “Definitely. What is unconstitutional there with what they agreed upon which is not to have chaos in one place? Because you must remember, this is a disput-

ed territory. It would have been better if it is not. If not, we don’t have a problem.”

Duterte revealed the mutual agreement on Wednesday night although he did not specifically say when was this agreed upon.

“That was what we talked about.

That is why we are talking. And that was we were allowed to fish.

It was a mutual agreement. Let us give and take. You fish there, I fish here,” Panelo said.

But Malacañang did categorically say whether the government has allowed China to fish in the country’s EEZ. “They said they will not interfere. Right? They’ll never do that. That is what the President said—they’ll never do that, why?

Because we are friends,” Panelo stressed.

He added this is also the reason the President believes that there’s no need for the Philippine government to prevent China from fishing in Recto Bank following Filipino fishermen’s request for the President to make the area their exclusive fishing grounds and help them secure the area.

Let Palace act

FOR his part, Senate President Vicente C. Sotto III suggested that Malaca-

ñang act on the matter first before lawmakers delve into the issue.

“L et ’s a l low t he Executive Department, to handle the situation,” the Senate leader said, adding: “If legislation is necessary, then we involve Congress.”

Faulty pronouncement

THE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), meantime, warned the government against the possibility of massive Chinese poaching in the country’s territory.

Pamalakaya National Chairman Fernando Hicap said Chinese poachers are sure to wreak havoc in the country’s marine territory because of Duterte’s policy pronouncement.

Hicap chided the President for allowing Chinese fishermen to catch fish within the country’s EEZ on the basis of “friendship.”

“It is Vietnam who saved our fishermen in Recto Bank; they are more acceptable to be called as true friends of the Philippines than China, who is consistent in trampling our sovereign rights and does not pay any respect to our fisherfolk in our very own territory,” Hicap said.

Bernadette D. Nicolas, Butch Fernandez, Jonathan L. Mayuga, with Bloomberg News

Economy BusinessMirror

A4 Friday, June 28, 2019 • Editor: Vittorio V. Vitug

Trade dept’s SRP list shows hefty price hikes in milk, coffee, other basic goods

By Elijah Felice E. Rosales @alyasjah

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HE price of processed milk, along with other basic commodities, is expected to go up by as much as around P2 within the next few days, as the Department of Trade and Industry (DTI) approved another round of price increases in basic goods.

In the second quarter suggested retail price (SRP) list of the DTI, prices of nine milk products had already gone up between P0.25 and P1.8. The upticks affected all categories of processed milk, from condensed to evaporated milk.

Milkmaid Full Cream Milk increased to P72, from P70.2 in the last SRP, while Alaska Evaporada to P26.25 and Cow Bell Evaporada to

P21, from P26 and P20, respectively.

Condensada brands of Carnation, Cow Bell and Liberty also raised prices between P0.25 and P0.75. On the other hand, prices of Alpine Full Cream Milk and Carnation Evaporated Milk ticked upward between P0.25 and P0.5.

Trade Undersecretary Ruth B. Castelo said the new round of price hikes, particularly in milk products, was brought about by higher production cost as requested by manufacturers in their petitions to the DTI. “Some [of the price increase] requests made in 2018, we split the approvals to cushion the burden for consumers. Some were requested in April [for] reasons [of higher prices of] raw materials and production,” Castelo said in a text message.

Aside from processed milk, 3 in 1 coffee brand Kopiko Black increased to P7, from P6 in the last SRP. Kopiko, an Indonesian coffee product, reels from the special safeguard duty imposed by the Philippines on coffee imports.

T he S SG ap pl ic at ion me a n s Kopiko maker PT Mayora should pay additional duties on the difference between its landed price and the SSG trig ger price of P203.74 per kilogram.

Further, Lorins Patis PET Bottle raised prices by nearly P1 to P19.9, from P19.1, while Lorins Pouch to P9.9, from P9.45, and Lorins Budget Pouch to P18.25, from P17.5.

Castelo said this is the second and last round of price hikes in the products covered. The first round was apparently rolled out by batches

in previous SRPs to reduce impact on the part of buyers.

In a news statement issued on Wednesday, Laban Konsyumer President Victorio Mario A. Dimagiba questioned why the DTI approved another round of price increases after inflation slightly went up in May and consumer confidence declined in the second quarter per the Central Bank’s Consumer Expectation Survey.

Inflation—the general increase in commodity prices—rose 3.2 percent in May, higher than the 3 percent in April, but more weathered than the 4.6 percent during the same month last year. Meanwhile, consumer outlook in the second quarter fell to a confidence index of -1.3 percent, from -0.5 percent in the first quarter.

PSALM petitions lower ’18 power bill for Luzon and Mindanao, rate adjustment for the Visayas

By Lenie Lectura

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@llectura

HE Power Sector Assets and Liabilities Management Corp. (PSALM) filed an application with the Energy Regulatory Commission (ERC)

to reduce power rates in Luzon and Mindanao for the monthly fuel and purchased power costs recorded in 2018.

In its 13-page application for the true-up adjustments of fuel and purchased power costs (TAFPPC) and foreign exchange-related costs (TAFxA), PSALM informed the ERC that it would refund its customers in Luzon

by P1.2986 per kilowatt-hour and P0.6953 per kWh for its Mindanao customers.

In Visayas, however, PSALM asked for the regulator’s green light to recover P0.7040 per kWh in the form of rate increase to reflect the adjustments in fuel and purchased power costs from January to December last year.

PSALM said the rate recovery across all grids would be implemented over a one-year period.

“It is most respectfully prayed to this Honorable Commission that…the following

TAFPC + TAFxA per grid and corresponding trueup adjustment rates with one- year refund period for the Luzon and Mindanao grids and one-year recovery period for the Visayas grid, covering the test period January 2018 to December 2018 be approved,” it said.

PSALM, which manages the assets and liabilities of the National Power Corp., explained that such application for true-up adjustments is being sought to allow it to recover or refund the difference between the actual allowable costs incurred for a certain period and actual revenues generated.

For the fuel and purchased power cost, the application covers the costs incurred and revenues generated by PSALM from the Malaya Thermal Power Plant in Luzon; Unified Leyte Plants in the Visayas; Mount Apo hydro facility and Mindanao coal plant in Mindanao.

For foreign exchange-related costs, these are computed based on the difference between the principal debt payments made during the test period converted into Philippine peso using the actual exchange rate as of payment date and using the ERC-approved base foreign exchange of 44.0494 to a dollar.

Marina releases new policy on registration of tourism boats

Creative artists take over former soldier’s barracks in Intramuros

By Lorenz S. Marasigan @lorenzmarasigan

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HE Maritime Industry Authority (Marina) has issued new policies on the registration, licensing and operation of recreational boats for commercial or private use within the Philippine territorial waters, strengthening its commitment to help develop the tourism sector through maritime initiatives.

Citing Memorandum Circular DS-2019-01, Marina defines recreational boats as vessels that are less than 46 meters with a capacity of as much as 10 tons of cargo, and are used exclusively for recreational or tourism development purposes.

Boats that are registered under Marina, previously unregistered vessels under amnesty, and new boats are allowed to register under the recreational boat classification. The vessels may be owned

by Filipino citizens, companies and groups. Foreign-owned vessels are only allowed for private use.

The certificate of ownership and recreational boat certificate are valid for five years and must be renewed before its expiration.

Should a registered vessel be sold for export, its certificates will be forfeited.

By Cai U. Ordinario

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@caiordinario

HE ruins of the former military barracks circa 1500s could soon become a venue for artists and other creativeindustry stakeholders to showcase their works, according to the National Economic and Development Authority (Neda).

In a news statement released on Thursday, Neda Undersecretary Jose Miguel R. de la Rosa said the Creative Economy Council of the Philippines (CECP) aims to transform the Maestranza Complex in Intramuros into a creative hub.

The complex had chambers that used to be a storehouse and barracks for soldiers before these were destroyed during World War II. These will be transformed into spaces meant to showcase Filipino creativity.

“We need more creative hubs where we can develop pools of creative talents and create opportunities for them. While Filipino creativity seems to be an intangible concept, its development has a huge contribution to the Philippine economy,” de la Rosa said.

De la Rosa said Paolo Mercado, founder and president of the CECP, plans to restore and reconstruct the ruins into galleries, film showing and performance venues, showrooms and other creative spaces.

The complex will also be transformed into an education center dedicated to promoting and inspiring a culture of design excellence.

The council will also develop Philippine-based talents, brands and businesses that will become recognized and valued in the global creative marketplace.

De la Rosa said this is consistent with plans stated in Chapter 7 of the Philippine Development Plan 2017-2022. He said Filipino creativity is considered a tool for social cohesion and an impetus for a culture-based creative economy.

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Incoming House members outline legislative priority when 18th Congress opens

By Jovee Marie N. Dela Cruz @joveemarie

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AWMAKERS have vowed to legislate measures that would draw more investments to the country in the 18th Congress.

Albay Rep. Joey Salceda, in an interview, said the 18th Congress will work immediately to pass several measures that would benefit the Philippine economy.

The 18th Congress will open on July 22.

“There are several measures that we really need to pass, such as the amendments to the Philippine Service Act, amendments to Public Service Act, the proposed Retail Trade Liberalization Act and amendments to Foreign Investments Act,” Salceda said. “[These measures are] what the economy needs at this point,” he added.

For his part, Leyte Rep.-elect Martin Romualdez said the 18th Congress will prioritize all the measures that were taken up but not fully enacted during the 17th Congress.

“I told President Duterte that we, even before Congress opens session on July 22, have begun working on the measures that need to be discussed ASAP [as soon as possible],” he added.

“I also informed the President that House leaders have already established a communication line with Finance Secretary Sonny Domin-

guez and other economic managers to ensure that the 2020 national budget will be approved before the end of the year,” he said.

In his meeting with the finance chief, Romualdez has communicated the plan of congressmen for a self-imposed deadline of approving the 2020 National Expenditure Program by October this year.

Moreover, Romua ldez said priority measures in the 18th Congress are the proposed 2020 General Appropriations Act, Federalism, the amendments to the Foreign Investments Act, the Public Service Act and the Retail Trade Liberalization Act. Romualdez said the proposed Coco Levy Fund Act, National Land Use Act, creation of the proposed Department of Disaster and Resilience, Tax Reform for Attracting Better and High-quality Opportunities bill, excise tax on alcohol products bill, reforms on real property valuation, and passive income and financial intermediary taxation bill will also be prioritized.

Also included on the priority list are the traffic and congestion crisis bill, zero tariff on fish and meat bill, suspension of the scheduled hike on the fuel excise tax, repeal of the excise tax imposed on kerosene and diesel, bill on the reimposition of Reserve Officers’ Training Corps and bill providing for a comprehensive neutral regulatory framework.

Levy Laus gets posthumous recognition

By Ashley Manabat Correspondent

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ITY OF SAN FERNANDO— Three major business groups in this region honored on Tuesday the late Levy P. Laus, former chairman and chief executive officer (CEO) of the Laus Group of Cos. who met his untimely death on April 25 in a chopper crash in Bulacan.

Led by the Pampanga Chamber of Commerce and Industry Inc. (PamCham), joined by the Metro Angeles Chamber of Commerce and Industry, Inc. (MACCII) and the Clark Investors and Locators Association (CILA), Laus was posthumously recognized for his role in rallying this capital city and the province of Pampanga toward the development and priming of Central Luzon’s countryside progress.

The honor was contained in three separate resolutions from the business groups as well as mementos, including a charcoal portrait by Maestro Rafael Maniago.

Laus’s widow, Tess Laus, received the honor during PamCham’s 63rd general membership meeting at the Laus Group Event Center here.

The posthumous resolutions of recognition cited Laus’s visionary leadership and mentorship of PamCham that effectively led to fulfilling its mission of priming countryside development.

“His sage leadership made it a privilege to be a member of the board. Every month, we were witness to his perceptive insights, acute sense of appropriateness and keen discernment of the best way to push forward advocacies that will promote and protect the interests and welfare of business,” the resolution said.

It can be recalled that 15 years ago, PamCham assumed the role of the provincial chamber with the mission to rebuild, rehabilitate and restore Pampanga’s economy from the ashes of an epic disaster, PamCham Chairman Jess Nicdao said.

“Priming countryside business became our dictum. And our direction was to unite the business community of Pampanga into a single voice, to advocate for a business-friendly local environment and promote Pampanga as a viable investment destination,” he added.

“As PamCham moves forward sans the vital presence of our beloved chair-

man emeritus, all of us in the board of directors commit to continuing the work he had so perspicaciously laid out for us. We will be unwavering in this commitment, and we are very confident that we will be successful because he will still be with us in spirit,” he declared.

For his part, PamCham President Rene Romero said: “A decade and a half ago, I approached him to consider the conversion of then San Fernando Chamber into a provincial chamber. He accepted my proposal with the condition that I will be his vice president and I will help him put together and establish a credible business organization led by prominent and advocacy-driven businessmen and businesswomen in Pampanga. The past 15 years saw PamCham grow and evolve into the influential provincial chamber it is now, thanks to the wise guidance of our dear chairman emeritus.”

He added: “In his absence, PamCham is bereft of a prescient and charismatic leader. We will miss his quick wit, perceptive wisdom and enterprising intellect in the board. But we are confident that a decade and a half of his counsel as chairman of the board prepared us enough to stay the course and keep pursuing advocacies that will fulfill our sworn mission to promote development in the countryside and capacitate our homegrown local MSMEs grow into globally competitive enterprises.”

Meanwhile, MACCII and CILA highlighted Laus’s accomplishment of setting standards of corporate social responsibility through his exemplary civic advocacies that benefitted the business community; for fostering and enabling a business climate for foreign and local investments that harnessed Clark Freeport’s economic potential; and for demonstrating values that will forever inspire the community.

In response, Laus Group of Cos. Chairman and CEO Lisette LausVelasco thanked the groups and all who have paid tribute to her late father.

“On behalf of the family, I would like to thank PamCham, MACCII and CILA and all those who have recognized my father. It’s been heartwarming to hear the stories and how our father has touched your lives.

Maraming salamat po sa inyong lahat,” she said.

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

The World

HUAWEI WARNS U.S. PATENT CURBS WOULD HURT GLOBAL INNOVATION

HUAWEI’S Chief Legal Officer Song Liuping speaks at a press conference at the company’s headquarters in Shenzhen in southern China’s Guangdong province on Thursday. Chinese tech giant Huawei has warned a US proposal to block the company from pursuing damages in the country’s patent courts would be a “catastrophe for global innovation.” AP/DAKE KANG

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HENZHEN, China—Chinese tech giant Huawei warned on Thursday a US senator’s proposal to block the company from pursuing damages in patent courts would be a “catastrophe for global innovation.”

The proposal comes amid mounting US action against Huawei, the biggest maker of switching gear for phone carriers, amid tension over Beijing’s technology ambitions.

The company has been devastated by the Trump administration’s decision to impose restrictions on its access to American chips for smartphones and other components and technology.

Disrupting Huawei’s access to US patent courts would threaten the intellectualproperty system that supports technology development, said Song Liuping, the company’s chief legal officer.

The proposal by Sen. Marco Rubio, a Republican from Florida, followed reports Huawei Technologies Ltd. is asking for $1 billion from American phone carrier Verizon for use of the Chinese company’s patents.

“If such a legislative proposal were to be passed, it would be a catastrophe for global innovation. It would have terrible consequences,” Song said at a news conference. He said it would “break the foundation of IP protection.”

American officials accuse Huawei of facilitating Chinese spying, a charge the company denies, and see it as a growing competitive threat to US technology industries.

Huawei’s founder, Ren Zhengfei, said this month it has cut its projected sales by $30 billion over the next two years due to curbs on access to American chips and other components. He said smartphone sales outside

China will fall 40 percent.

Huawei’s US sales of network gear evaporated after a congressional panel labeled the company a security threat in 2012 and told phone carriers to avoid it. But the Chinese company has a patent portfolio it licenses to manufacturers and carriers.

Song gave no confirmation of how much Huawei wants from Verizon or the basis of its claims.

“Intellectual-property litigations are matters that should be heard and ruled on by courts. They should not be politicized,” he said.

Huawei, founded in 1986, has China’s biggest corporate research and development budget at $15 billion in 2018. The company is a leader in developing next-generation telecoms technology.

On Wednesday, a US federal court jury in Texas ruled Huawei stole trade secrets from a Silicon Valley company but awarded no damages, saying the Chinese company didn’t benefit.

The jury rejected Huawei’s claims that CNEX Labs Inc. cofounder Yiren Huang stole its technology while he worked at a Huawei subsidiary.

Huawei’s head of intellectual property, Jason Ding, said the company was studying the verdict and deciding what to do next.

Asked about a report by Bloomberg News that some Huawei researchers had published papers with Chinese military personnel over the past decade, Song said the company wasn’t aware of its employees publishing research as private individuals.

“We don’t customize products or do research for the military,” said Song. “We are not aware of employees publishing papers. We don’t have projects of that kind.” AP

Nato seen boosting European air defenses over Russia missile system

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RUSSELS—Nato is considering beefing up European air and missile defenses and ramping up its war games plans should Russia fail to respect a Cold War-era nuclear missile treaty by August, alliance Secretary General Jens Stoltenberg warned on Wednesday.

The United States gave notice in February of its intention to withdraw from the landmark 1987 pact unless Russia destroyed its new SSC-8 missile. Nato allies believe the system contravenes the Intermediate-Range Nuclear Forces (INF) treaty, which is considered to be a cornerstone of European nuclear security.

Speaking after a meeting of defense ministers in Brussels, Stoltenberg said Russia showed no sign of returning to compliance before the US deadline and “Nato is preparing for a world without the INF treaty.”

The ministers discussed “potential measures such as our exercises program, as well as intelligence, surveillance and reconnaissance. We will also look further at our air and missile defenses and conventional capabilities,” he said.

Stoltenberg declined to give det a i l s, but u nderl i ned t h at Nato had “no intention to deploy new land-based nuc lear missiles in Europe.”

Asked earlier on Wednesday if the military alliance might use its nascent missile defense shield to counter the new Russian mis-

siles, Stoltenberg said he wouldn’t divulge “exactly what we will do because we are still focused on how we can get Russia back into compliance.”

Nato allies decided in 2010 to develop a ballistic missile defense system to protect Europeans from an attack launched from outside Europe and North America. At the time, it was meant to counter any threat from North Korea or Iran. Despite Moscow’s vehement objections to the system, the alliance always insisted that it could never be turned against Russia.

The INF treaty bans production, testing and deployment of landbased cruise and ballistic missiles with a range of 500 to 5,500 kilometers (310 to 3,400 miles).

The Pentagon has shared information with Nato allies asserting that Russia’s ground-fired cruise missile could give Moscow the ability to launch a nuclear strike in Europe with little or no notice.

Moscow insists the missile has a range of less than 500 kilometers and counters that the US, itself, has been breaching the INF treaty.

“These missiles are capable of carrying nuclear warheads. They can reach European cities within minutes. They are hard to detect,” Stoltenberg told reporters at Nato headquarters.

“Russia still has an opportunity to save the INF treaty,” he said, and warned that, if not, “we need to respond.” AP

BusinessMirror

Friday, June 28, 2019

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G-20 leaders meet in Japan to resolve global conflicts

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SAKA, Japan—Trade and geopolitical tensions, and the looming threat of climate change, are on the agenda as Chinese President Xi Jinping and other world leaders gather in Osaka, Japan, for a summit of the Group of 20 major economies.

While prospects for detente in the trade war between the world’s two largest economies, the United States and China, are a major preoccupation ahead of the two days of meetings that begin on Friday, many participants are calling for a broader perspective in tackling global crises.

“This will be a difficult G-20, there are global challenges to be met, we need to step up to avoid the climate threats...reform the World Trade Organization and prepare for the digital revolution,” Donald Tusk, president of the European Union Council said at a meeting with Japanese Prime

Minister Shinzo Abe. He noted the summit came at a time when international tensions were growing, for example, over Iran’s nuclear deal and trade between the United States and China President Donald J. Trump was due to arrive later on Thursday, and to meet with Xi on Saturday as the G-20 meetings conclude.

Xi was also expected to hold talks with Abe, seeking a breakthrough after years of strain over territorial disputes. It is his first visit to Japan since he became communist China’s top leader in 2013.

A visit by X i to North Korea last week raised hopes for some movement in the impasse with the US over Pyongyang’s nuclear program. Trump also is due to visit South Korea after leaving Japan, raising speculation there may be more news on Korean

issues during his Asian travels.

Trump has at times found himself at odds with other leaders in such international events, particularly on issues such as Iran, climate change and trade.

Abe has sought to make the Osaka summit a landmark for progress on environmental issues, including climate change. French President Emmanuel Macron reinforced that message during a state visit to Tokyo on Wednesday, where he described climate change as a “red line” issue for endorsing a G-20 communiqué.

“It’s the moment to be truly in time in the face of histor y and to fulfill our responsibilit y,” Macron said. “I will not sign if we don’t go further in our ambition about climate change. That would mean all those summits are for nothing.” AP

N. KOREA URGES SOUTH TO STOP MEDIATING BETWEEN NORTH, U.S.

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EOUL, South Korea—North Korea said on Thursday that South Korea must stop trying to mediate between Pyongyang and Washington, as it stepped up its pressure on the United States to work out new proposals to salvage deadlocked nuclear diplomacy.

The North Korean statement was an apparent continuation of its displeasure with Seoul and Washington over the stalled diplomacy. But there are no signs that North Korea would formally abandon talks anytime soon as an inter-Korean liaison office in North Korean remains operating and the North still talks about good relations between its leader Kim Jong Un and President Donald J. Trump.

The statement came two days before Trump visits South Korea for a two-day trip.

There have been no public meetings between the United States and North Korea since the breakdown of the second summit between Trump and Kim in Hanoi in February.

Kim returned home empty-handed after Trump refused to provide him with badly needed sanctions relief in return for a limited denuclearization step.

The summit’s collapse was a blow to South Korean President Moon Jae-in, a liberal who shuttled between Washington and Pyongyang to facilitate talks between the countries to help find a diplomatic settlement of the North Korean nuclear crisis.

Talks of revival of diplomacy, however, have flared after Trump and Kim recently exchanged personal letters. Moon said earlier this week that US and North Korean officials were holding “behind-the-scene talks” to try to set up a third summit between Trump and Kim. Moon also said talks between the two Koreas have been under way through unspecified “various channels.”

On Thursday, Kwon Jong Gun, chief of the North Korean Foreign Ministry’s US affairs department, said it will “never go through” South Korea again when it deals with the United States. He also dismissed as false the comments by Moon and other South Korean officials that there are various exchanges and unofficial talks between the two Koreas.

“It’s better for the South Korean authorities to mind their own business at home,” Kwon said. South Korea’s Unification Ministry later on Thursday said its push for peace and denuclearization on the Korean Peninsula through dialogue remains unchanged. A ministry statement didn’t directly mention the latest North Korean statement.

Kwon’s statement came after Chinese President Xi Jinping met with Kim during the first Chinese leader’s visit to Pyongyang since 2005. Some experts said Xi’s trip signaled Beijing, Pyongyang’s main ally and aid benefactor, intended to play a greater role as a mediator in the nuclear issue to increase its leverage with Washington over trade disputes.

Kwon also reiterated Kim’s previous demand that the United States come up with acceptable nuclear deals by the end of December. “[North Korea]-US talks won’t be held by themselves if the US is repeating the resumption of dialogue like a parrot without

thinking about realistic proposals that are in the interests of both sides,” he said.

He still said that North Korea-US relations are proceeding based on the “friendly

relations” between Kim and Trump.

The North’s Foreign Ministry said on Wednesday that it won’t surrender to US-led sanctions and accused Washington of trying

to “bring us to our knees.” US officials have said the sanctions would stay in place unless North Korea takes significant steps toward nuclear disarmament. AP

A6

Agriculture/Commodities

Friday, June 28, 2019 • Editor: Jennifer A. Ng

Solon wants farmers to adopt aeroponics

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PARTY-LIST representative on Thursday said she will again push for the passage of the proposed Aeroponics Technology in Agricultural Production Act in the 18th Congress.

Deputy Speaker Sharon Garin of AAMBIS-OWA said the proposal will mandate the

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Department of Agriculture (DA) to conduct a comprehensive research and information drive on aeroponics technology applied in agricultural production. She said she will refile the measure when Congress opens on July 22. “[This technology] offers solutions which take advantage of newly

invented modern technologies which are high-yield, cost-effective and ecologically sound,” Garin added. According to Garin, aeroponics is a soil-less, indoor farming method in which plants are grown and nourished by suspending their roots midair, keeping the humidity level at 100 per-

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cent, and regularly spraying them with a nutrient and water solution.

“Aeroponics is an efficient means to grow plants, without potting and repotting them to replenish their acess to nutrient-rich soil.

With aeroponics, farmers may use vertical and horizontal space to grow more plants

using less floor space and conserve water by using sealed aeroponic systems,” she said.

“It is high time that the state must look at other farming methods to supplement our present agricultural output,” Garin added.

See “Aeroponics,” A9

www.businessmirror.com.ph

Friday, June 28, 2019

A BusinessMirror Special Feature

A7

Soon in Boracay! www.belmonthotelboracay.com

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ELMONT Hotel Boracay awaits you this coming July 2019. This new destination hotel is perfectly situated at the Boracay Newcoast which has stunning views of the ocean and a golf course.

Not long enough, this hotel destination will provide tourists a different Boracay experience where the Newcoast Beach awaits you with its white powdery sand and crystal-clear waters.

Belmont Hotel Boracay offers the warmth and comfort of a sophisticated hotel combined with the relaxing tranquility of a secluded getaway. Retreat from the outside world and embrace the feeling of paradise within.

A unique haven with a stunning vision of nature, beauty of paradise and majestic sunsets.

“Boracay island has been a top destination among foreign and local travelers. They would always to go back here to feel the beauty of paradise and the exuding warm nature that surrounds you.

Every traveler would always want to make their trip worthwhile and truly memorable,” says Marie Jehan Balbanero, Area Head of Marketing and Communications.

“Our hotel is designed to let the guests feel the continuity of a unique and exclusive nature experience in Boracay. This is where you get to feel the warmth and beauty of paradise. We would want our guests to experience that perfect and memorable moment in their trip,” added Balbanero.

Belmont Hotel Boracay is a five-story hotel with 3 clusters that offers 245 deluxe twin rooms, 130 deluxe queen rooms, 49 premiere deluxe rooms, 12 executive suites and 6 specially-abled rooms with a total of 442 well-appointed rooms.

The hotel offers sophisticated accommodation with a complete paradise experience. With the rooms’ minimalist designs and natured inspired aesthetic, it offers a cozy and relaxing accommodation perfect for couples, families of even groups.

Aside from its well-appointed rooms, Belmont Hotel Boracay take its pride with its modern facilities. It has an all-day dining restaurant, which is Belmont Café, a swimming pool with an in-pool lounge, pool bar named Zabana Pool Bar, function rooms, meeting

rooms, business center, fitness center and the Aqua spa.

In Belmont Hotel Boracay we live up to the tagline, “Savor the moment.” As Adie Gallares, Area General Manager says, we do not remember days, we remember moments. We have to taste, feel and experience the great things in life in order to savor that "perfect moment." Gallares shares that “here in Belmont Hotel Boracay you can experience nature's perfection at its finest with

your loved ones. From the hotel location, to the well thought of nature inspired aesthetics, to the sumptuous food, the complete facilities and the exceptional service that we provide, you are guaranteed to enjoy every second of your stay as you immerse, relax, rest, enjoy, and rejuvenate.”

Be among the first ones to step into this pristine beach of this new destination and “Savor the moment” at Belmont Hotel Boracay. Avail the opening rate of

Php 4,200.00 net per night, valid only until September 30, 2019.

Belmont Hotel Boracay is located at Newcoast Drive, Boracay Newcoast, Brgy. Yapak, Boracay Island, 5608, Malay, Aklan. To find out more about our promos and offerings, contact us at +63 (2) 720 1878 | 0917 821 0282 or check our website at www. belmonthotelboracay.com and follow us on Facebook at Belmont Hotel Boracay and Instagram at @ belmontboracay.

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Agriculture/Commodities

Friday, June 28, 2019

Firm ventures into coco-water delivery

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ETRO MANILA consumers can now conveniently aid farmers in easing the coconut supply glut and drink fresh buko juice via a delivery service that promises to bring coconut water right at their doorsteps.

Dubbed Coco Delivery, Metro Manila consumers can have their buko juice fix for a

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minimal delivery fee of P20, regardless of volume ordered.

The company is targeting to become the “fastest” and “hassle-free” delivery provider of fresh coconut water in Metro Manila, according to its web site. Coco Delivery allows Metro Manila residents to order fresh

coconut water from 8 a.m. to 5 p.m. via landline and mobile phone.

It offers two quantities of fresh coconut water: 500 ML at P65 and 1 liter at P125. The firm said it accepts cash on delivery and GCash payment options for real-time orders.

The company noted the health benefits of

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drinking coconut water instead of beverages laden with sugar. Coconut water, it said, could help reduce stress and fatigue due to its potassium, calcium and magnesium contents that aid the body to relax. Coconut water could also help lower one’s cholesterol level aside from its hydration capacity, it added.

The Department of Agriculture (DA) has been pushing for an increase in the consumption of buko juice or coconut water to ease the supply glut, which has pulled down the farm-gate price of copra.

See “Coco water,” A9

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Aeroponics. . .

Continued from A6

Citing the Department of Science and Technology’s Philippine Council for Agriculture, Aquatic and Natural Research and Development, the

lawmaker said aeroponics could increase farmers’ income.

Under the bill, the DA will be mandated to promote the use of aeroponics agriculture as an instrument to further improve the

production of high-value crops and vegetables in the coun try and address food-security concerns.

Also, the measure calls on the Depar tment of Education

and the Commission on Higher Education to spearhead the integration of Aeroponics Technology in the academic curriculum for secondary and tertiary level students of both private and

Friday, June 28, 2019 A9

public academic institutions offering courses on Agriculture, Practical Arts, Home Economics and/or other subjects related to agriculture.

Jovee Marie N. Dela Cruz

Coco water. . .

Continued from A8

The DA has held various mar- agency also serves buko juice in all keting campaigns on coconut of its meetings to promote its conwater across Metro Manila. The sumption. Jasper Emmanuel Y. Arcalas

A10 Friday, June 28, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Trade war is hell

A

S leaders of the G-20 nations meet in Osaka, Japan, there is speculation about a potential meeting between Chinese President Xi Jinping and US President Donald J. Trump. The topics would include a discussion about trade.

US Treasury Secretary Steven Mnuchin said on Wednesday the US and China were close to a trade deal, and he was optimistic that progress could be made. “We were about 90 percent on the way there [with a deal] and I think there’s a path to complete this.”

Something is seriously wrong here. Mnuchin talks about a “trade deal.” A “deal” is what takes place between two people that are trying to negotiate the sale of a used car. We have been told for months that this is a “trade war.”

Everyone knows—presumably even Mnuchin, Trump and Xi— that there is only one successful conclusion to a “war.” One side must be defeated, crushed into humiliating submission if not wiped off the face of the Earth. Nothing else is acceptable.

Look at the end of World War I. Germany and its allies were allowed to “cut a deal” and the end result was World War II. The Korean War ended with a deal and we are still involved with that mess. US General George Patton said: “The object of war is not to die for your country but to make the other bastard die for his.” No talk from General Patton about making the other guy cut a deal.

Even in “wars” where no blood is shed, it is the same—no deals.

The Toronto Raptors beat the Golden State Warriors for the championship. There was no talk of a deal to determine the outcome because the Warriors faced player injuries. No one said, “Hey, let’s postpone Game Six until everyone on both teams is healthy.”

The other thing to remember about any type of war is that there have to be winners and losers even beyond the main combatants.

Not only did the Warriors’ team lose the championship, but everyone who bet money on them also lost.

General Philippe Pétain was head of the Pro-Germany Vichy government after the occupation of France during World War II. He was convicted of treason. Some people in Asian countries supported the Japanese invaders. It is tough to pick sides in a war.

Even now, countless articles and analysis have been written about which countries are the “winners” and which are “losers” in the trade war. Brazil seems to be a winner. The country has helped fill the gap for China’s need for soybeans as China stopped importing US beans. Brazil has also increased meat exports to China by 25 percent in 2019. Trump said he is thinking about tariffs on Vietnam goods as Vietnam has “been benefiting from US tariffs on China.”

So Vietnam and Brazil might be cheering for the trade war to continue for as long as possible. Taiwan appears to be losing as their companies do much manufacturing in China for exports to the US, and they have been hit by the higher tariffs.

The Philippines is mostly economically neutral. But then again, what if Trump said he was waging a trade war with China because of China’s incursions into our exclusive economic zone? War is hell and sometimes confusing.

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The next three years will tell us if he will deliver or despair us.

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TELLTALES

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Continuing vigilance on the proposed MACR Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace Ruben M. Cruz Jr. Angel R. Calso

two are called a law firm, and three or more become a Congress.”

ARE we Filipinos still capable of morTHE recent addition of unique Manny F. Dooc al indignation? Or have we become words coined in the Philippines so callous and insensitive to corrupto the latest edition of the Oxford tion and moral depravity that have English Dictionary such as bongga, engulfed us? What happened to our kilig, pan de sal, OFW and many values and standards? Where has others demonstrates the richness HE assassination of the former mayor of Medellin, Cebu, is our sense of right and wrong gone? and diversity of our language. One like a script lifted straight from a movie where gruesome Instead of condemning corruption, word newly included on the list that murders are committed with impunity in broad daylight. we have accepted it as a fact of life in without doubt shall find universal The victim was under hospital arrest under close watch by a our government. What is despicable acceptance is the term trapo, referBJMP security around the clock and under the care of hospital is that we have even elected some ring to a traditional politician who staff. The dastardly act was carried out by 15 fully armed men of them into office. We just look the is corrupt and resorts to every conother way when we see traffic officers ceivable machination or ruse to get aboard four vehicles. mulcting motorists on the road. We elected and keep himself in office. sneer at whistle-blowers and discourEvery government in the world The criminals barged inside the to the authorities and fear of the law. age reporting of misbehavior. We are has its trapo. In the field of Lexihospital wearing masks and disRemember what former Vice Presinot repulsed by court decisions that cology, I think the Filipinos have armed the security detail assigned to dent Emmanuel Pelaez had asked pronounce high government officials few equals. We have words for evthe former mayor. The victim hid inPolice General Tomas Karingal while not guilty of graft and corruption on erything and where there is none, side the toilet where he suffered from the former was critically lying in his grounds of technicality. As members we invent one. Aside from making multiple gunshot wounds. Shades hospital bed after surviving a failed of the human race, we must restore the great Bicolano, Eddie Garcia, of a Godfather movie where Marlon assassination attempt: “What’s hapour sense of sensibilities and ethical as a National Artist as proposed by Brando’s assassins from a rival Mafia pening to our country, General?” foundation by rebuking thieves in his legion of admirers, we can also family assaulted the hospital where General Karingal, in whose honor government and denouncing their celebrate his life by enshrining the he was confined to finish him off. the present PNP Headquarters of the crooked ways. PRRD is on the right two Bicol words closely associated Before, it was common for powerNorthern Police District was named, track when he declared war against with him, uragon and Manoy in the ful accused persons to complain of was himself assassinated by the corruption. He would be our greatest forthcoming edition of the OED. I or feign sickness and get admitted NPA’s liquidation unit, the Alex BonPresident if he succeeds in eradicatam sure these two terms will make in a hospital to avoid incarceration. cayao Brigade, in 1984. The General ing it. The fact is every presidential the English language more vibrant Now, they will have second thoughts left the question unanswered and contender has used graft and corrupand colorful. Uragon si Manoy. doing this. The police tagged the it continues to haunt us up to now. tion successfully as a campaign issue nnn victim as a “high value” target in its nnn against the incumbent, only to fail AN older politician was overheard campaign against illegal drugs. They WITH the opening of the 18th Condismally once he gets into office. For advising a newly elected public offidisowned the brutal slaying of the gress next week, I am reminded of instance, the “moral regeneration” cial: “And always remember this: the former mayor. the character of John Adams in the catchphrase of President Diosdado most important thing you can do as Criminals have become so brazen musical 1776 who wryly commented, Macapagal turned into “moral dea public servant is to be sincere. Sinand impudent in perpetrating their ”I have come to the conclusion that generation.” PRRD is made of sterner cerity. Sincerity at all times whether evil acts without showing any respect one useless man is called a disgrace, stuff and I do not doubt his resolve. you mean it or not.”

Jennifer A. Ng Vittorio V. Vitug

Online Editor Social Media Editor

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

Are Filipinos still capable of moral indignation?

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ROTHERS and sisters, there’s good news to all who follow the advocacy against the proposed lowering of the minimum age of criminal responsibility from 15 years old to 12.

On June 9th, the 17th Congress shut down the lowering of the MACR and dismissed any changes in the provisions of the Juvenile Justice and Welfare Act or JJWA, the law some lawmakers wish to amend.

The “Children Not Criminals” campaign opposing the proposed lowering of the MACR started in 2016, when President Duterte assumed office. The lowering of the MACR is part of the administration’s agenda in its campaign against crime, even if the number of cases where minors are involved in crime is only 2 percent.

Many people have objected to this proposal and took a stand that this is not in the “best interest” of the children. If the MACR is low-

ered to 12 years old, many children would be taken to court (regardless of how serious their cases are) and placed in detention centers called Bahay Pag-Asa. If you plan to visit any of these Bahay Pag-Asa centers (or any similar institution), there’s a big chance these institutions lack personnel, facilities and programs to take good care of the children.

And because of the slow process of justice, these children must endure even longer time detained in these Bahay Pag-Asa centers, rather than

using this important time in school or helping their families. What would be the future of these kids if this is what will happen to them?

It is good that the proposal to lower the MACR did not pass in the 17th Congress. Even if it passed in the House of Representatives, the Senate did not have enough time to discuss it. The senators may have given this issue a lot of thought, and must have studied its consequences on the lives of the affected children. They may also have listened to groups and organizations, including the Catholic Church of the Philippines, which are against this proposal.

Providing help for these children, known as the “Communitybased Intervention at Diversion”, agrees with one great principle of the Catholic Church’s social teaching, the subsidiarity. Subsidiarity recognizes the capabilities of families in society in giving attention to their needs without the intervention from higher authorities such as the national government. The subsidiarity doesn’t state that we do not need the government. The government is necessary if it is clear that a family, community or even institution is not

capable to attend to their needs—in the cases of children who committed crime, they need a guide to redeem what they have done wrong and given justice according to their misdeeds.

Is the government the only provider of help for these children? Is it not the primary duty of the parents with the help of the communities? The government will help in providing sufficient funding for the programs useful for the children wanting to go on the right path, as they say.

Brothers and sisters, our movement against the proposed lowering of the MACR is not over, especially with the coming 18th Congress because of its majority consisting of those allied with the administration. As Presidential allies, they favor almost everything that the President wants to implement.

Which is why we need to continue to be vigilant because this fight is for our youth.

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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Opinion

Can ≠ Should

The poor people of this republic

BusinessMirror

Ser Percival K. Peña-Reyes, Ph.D.

Tito Genova Valiente

ANNOTATIONS

EAGLE WATCH

D

ODONG tells an interesting story. A local bank has been bugging him, through several text messages and phone calls, to avail himself of its credit-to-cash arrangement.

This means that Dodong can convert the available limit of his credit card to cash. He will just pay a certain amount per month for 36 months at a “low” monthly add-on rate of 0.59 percent.

As an added incentive, Dodong could pay his first monthly installment 60 days (two months) after he gets the money.

Dodong’s credit-card statement cutoff is every fifth of the month. If he receives the loan proceeds before July 5, then his credit-card statement covering June 6 to July 5 will be Month zero, and it should reflect the credited amount. In the next statement covering July 6 to August 5 (Month one), no installment payment will be due, yet. It is in the succeeding statement covering August 6 to September 5 (Month two) that the first installment payment due will be reflected. The last installment payment due will be reflected in Dodong’s statement covering July 6, 2022 to August 5, 2022 (Month 37).

Dodong also finds out that the bank has approved the expansion of his credit limit to P189,974. Dividing P189,974 by 36 months yields P5,277.06 per month.

The monthly add-on interest rate of 0.59 percent is multiplied to the principal amount of P189,974 to get P1,120.84.

So, every month for 36 months, Dodong should be paying P5,277.06 + P1,120.84 = P6,397.90.

Thanks to Microsoft Excel, Dodong is able to compute for the internal rate of return (IRR) of cash flows. On cell A1, Dodong types “Month,” and then on cell B1, he types “Cash Flow.” Cells A2 to A39 should contain the month numbers (zero to 37). Cell B2 should contain the total loan amount, which is P189,974 (Month zero). Cell B3 should contain 0, since no payment is due yet in Month one. Cells B4 to B39 should each contain P6,397.90, which is the monthly installment payment for 36 months (Months two to 37).

On some other cell—say, D1—Dodong types in this formula: =IRR(B2:B39).

It turns out that the IRR, or the effective monthly interest rate, is about 1.02 percent—almost double the 0.59 percent monthly add-on interest rate.

It gets more interesting when Dodong tries to compute for the effective annual interest rate. On a scientific calculator, he just types in ((1+0.0102)^12)−1, and the result is about 12.95 percent. In other words, Dodong would effectively be paying 12.95 percent interest per year.

Now, if Dodong decides to invest the

proceeds, the annual return on investment should be greater than 12.95 percent for him to simply break even. So, if the ROI is 15 percent, should Dodong be happy? No, because he knows that the 91-day T-bill offers a risk-free rate of 4.453 percent. Assuming 360 days in a year, the effective annual interest rate of the T-bill is computed as follows: ((1+0.0102)^(360/91))−1. That is roughly 18.81 percent. Assuming 365 days in a year, the effective annual interest rate is roughly 19.09 percent. So, for Dodong to be happy, he should invest the proceeds in an instrument that gives him a rate greater than the sum of the breakeven rate (12.95 percent) and the risk-free hurdle rate (18.81 percent or 19.09 percent, depending on how many days are assumed to be in a year). In short, Dodong’s required ROI should be at least 33 percent!

Dodong gathers that the year-todate growth rate of the Philippine Stock Exchange Index is about 7 percent. Its compound annual growth rate over the last four years is about 1 percent. Over the last five years, the CAGR is about 3 percent. Over the last 10 years, the CAGR is about 16 percent. So, over three years (36 months), if the loan proceeds were to be invested in the Philippine stock market, it would probably be difficult to grow the money faster than its effective annual interest rate plus the hurdle rate posed by a 91-day T-bill.

It is also interesting to note that the gross annual interest rate on Dodong’s savings account with the same bank is just 0.25 percent. If he also considers the withholding tax, then the interest rate on his savings account is effectively just 0.20 percent. 13.76 percent versus 0.20 percent—What a huge spread that is! People should no longer wonder why banking has been such a profitable business in this country!

So, it looks like Dodong will not be biting the bank’s offer. He does not have any productive use for the money anyway. That he can readily borrow money does not mean that he should. Dodong is a wise fellow.

Dr. Ser Percival K. Peña-Reyes teaches economics at the Ateneo de Manila University.

What does it mean to be a 21st-century teacher?

By Alicia G. Agbayani

T

WO years ago, the National Economic and Development Authority published the Philippine Development Plan, 2017-2022, detailing the country’s aspirations for the next five years. The plan envisions the Philippines becoming an upper-middle income country by 2022, based on more inclusive economic growth that will reduce inequalities and poverty, particularly in rural areas. Human capital development is a key element in this strategy.

In other words, the success of this development plan depends on the ability of our teachers—particularly public school teachers—to provide cuttingedge education to students. However, it is the government’s responsibility to equip teachers with the tools they need for them to be effective in the 21st century classroom. Here’s a challenging question: What does it mean to be a 21st century teacher?

In an article that appeared on teachhub.com, education writer Janelle Cox said a 21st century educator must be a master of technology in the classroom to help students learn better and faster.

Cox added: “A 21st century teacher is able to adapt to whatever comes his or her way. Teaching is a career that has pretty much stayed the same over the past few decades. The tools have changed over the years [Smartboards have replaced blackboards, tablets have replaced

textbooks] but the practice has not. The 21st century teacher is able to adapt based on the needs of students. He or she must be able to adapt to new technology, but can still use his or her imagination to teach in creative ways.”

There’s a news report quoting officials of the Associated Labor UnionsTrade Union Congress of the Philippines that an estimated 1.2 million students who will graduate from college and finish vocation courses will find it difficult to land jobs because of a growing mismatch between their training and the skills required by most employers. This is one issue that 21st century educators can help solve. They can do this by being aware of the ever-changing trends in technology and by being in tune with what the future may bring to education. As Cox said, “A good 21st century teacher is aware of the career opportunities for students in the coming years, and always advocating toward forward thinking and to ensure that no student will be left behind.”

As it is, public school teachers have this heavy burden of helping ensure that the focus in education is to prepare today’s children for the future, especially where they will live and where they will work. In short, our teachers must help ensure that our children will all become productive citizens in the future.

The author is Teacher 3 at Rebecca National High School in Gonzaga, Cagayan.

T

HE air was dry. My younger brother and I were outside this café noted for fancy concoctions. Near the curb of the street, a young man, emaciated, in black shirt, would accost passengers getting off the jeepneys and those passing by. He looked at us and was soon approaching our table. He did not talk; he extended his hand in a gesture of begging. I asked my brother if he had some change. Should we give him something? Before my brother could answer, the guard approached the young man, who realized someone was about to drive him away. We looked at him but he was on his way to where we did not know.

After a few minutes, a man in crutches appeared behind my brother. I was getting ready with my P20 when the guard came again and asked the man to leave. He quickly left. He did not complain. I also did not have time to tell the guard to stop driving people away. I wanted to give the disabled man something, this I wanted to tell the guard. But I did not say anything to the guard.

The sun was down and the area around us was getting dark. Soon, children were around us, asking for P5 and P10. We ignored them and they were gone.

A month back, in a quieter café along Morato, I was seated outside when a shabbily dressed woman came and occupied the other table across me. She did not order anything. She plopped her grimy bag on the table and took out a book.

The guard, an older man, who had become my friend, looked at me. I knew what he was thinking: this woman could be insane. There was something off about her.

I spent my time drinking my iced coffee, no sugar added, and glancing sideways to see what the woman was doing. After some 30 minutes, the woman ordered a drink. She was calling someone. After an hour, a

man arrived and they soon started to converse—in English. They immediately left and I was stuck with the guard looking at me, the two of us both guilty of first and w rong impression.

The café —any where and in whatever form – is the perfect site for appraising people. The clients who come to my favorite cafe are individuals who have surplus or, at least, have the luxury and freedom to assume they have surpluses. Some of them are would-be lawyers and some are future doctors. You can see it in the books they lug around and the laptops they carry. They have the capacity to order any expensive drink without even taking a sip from the mug or plastic or styro cups.

When I occupy the table at my favorite nook—a corner close to the magazines—I push myself against the wall. It is a position that says,

Friday, June 28, 2019 A11

please do not talk to me. And please, be careful you don’t touch my back or my arm when you pass by and reach out for reading materials. This is my private space. Please.

The world outside the café is a dangerous world. The old woman who sells cigarette and bundles of tiny bread, her back against the railings of the café, is lucky she has been allowed to ply her goods there. The young man who briskly walks quickly in your direction because he is selling watches should not be trusted. He does not have surplus. The young girl with pathetic bouquet of roses should be avoided. She is a pusher. Watch out for the boys always ready to ask for P5 or even less. They are snatchers.

Do not believe the elderly lady who tells you she is a retired teacher and that she just wants some donation for her medicine. She is a con artist.

These are certainly poor people. They do not have surpluses. They do not have time to think critically because they a re a lways hungry.

W hen we turn them away, that is t h at.

Do not think where they go and what do they do when there is no food on the table.

Do they ever vote? Or, are they perfect flying voters.

One thing is sure: they love this president. They relish his vulgar ways because they are also like him.

That little boy with whom you shared one-half of your sandwich, where does he live? As you have shared already a special food, that is good enough. It is not your business or duty to think about him. You need to spread your personal sunshine. Of

course, you do not tell yourself you really did not like that sandwich and the boy saved you from throwing it and feeling bad about your political incorrectness.

Outside my favorite café, the world goes on. Buses pass and they seem to be forever carrying people from their rural and undeveloped place to this grand city you call home.

You want to tell them to stop wasting their money traveling. They should not be coming to the city as they do not have surplus and they would not be able to afford the coffee and any drink in your beloved café.

It is Sunday or Monday or even Tuesday. It really does not matter.

You have ordered an Americano, a drink you feel you have mastered.

You like the bitterness but you are sensing a sourness and a sweetness. You love navigating the arcs of your palate the way you articulate your position about the best schools.

Inside your café, you are assured the people will know who to vote and what issues to raise. Beside you a couple is lambasting the government’s policies for the poor fishermen. See, people with surplus are really nice people.

Then it is time to look out. You feel like throwing up. These poor people are responsible for this dumb administration. They are as dumb as the politicians they vote for. With these people, my country, you tell yourself, will never be great again.

You sip from your cup and smile.

You smile because you know you are the best citizen of this republic of poverty. As for the poor people, you sigh and tear a bit because you feel they are simply pathetic.

There is, you convince yourself, more hope in your cake and your bitter drink.

Outside the world of café, a thunderbolt is about to be hurled from the rage of Heaven and you have no idea at all you are its target.

E-mail: titovaliente@yahoo.com

‘We have done well as shown by those we honor today’ (Remarks by Foreign Affairs Secretary Teodoro L. Locsin Jr. at the 121st founding anniversary of the Department of Foreign Affairs. Delivered at the DFA’s Bulwagang Apolinario Mabini on June 26, 2019).

H

ONORED guests, colleagues in the Department, ladies and gentlemen. Today, we honor the men and women of the Philippine Foreign Service as we celebrate the 121st anniversary of the Department of Foreign Affairs. It is said that an institution is only as great as its people. I am grateful that this institution maintains and strengthens a professional pool that can meet any challenge in foreign affairs.

But it should be said as well that a great institution—which is to say an institution made great by those who came before—can make those who come after good and worthy of that institution by exposing them to the same challenges.

Thus, we encourage the perpetuation of the right institutional practices; and discourage the longevity of individual institutional occupation.

Our honor is not to stay here. Our honor is to have been here; to have served here; to have stood here on such occasions as this—in the felt but unseen presence of those who make us proud to be here today as having been one of them; to have done the things that needed doing in our time as they did in their time; to have done these things well if not memorably; and moving on, that others shall have the chance to do the same. Those who came before us had one thing we did not have when we first came in: experience. Those who come after us have one thing we do not have anymore: new blood, fresh energy.

I have said, time and again, the Department of Foreign Affairs is one of, if not the most professional agency in the Philippine government. I honored that conviction by heaping upon it another great and therefore equally thankless task: the administration of my law, the Overseas Voting Act. Since I assumed as Secretary of Foreign Affairs, I have been guided by the directive of the President to provide every Filipino with a “comfortable and secure life.” In this regard, I have

worked with all of you in ensuring we adhere to this directive. The first priority was to give every Filipino beyond the Republic’s physical reach to protect and help immediately the means enjoyed by his and her fellow countrymen at home: the right to vote.

Under the guidance of this President, we are pursuing an independent foreign policy. We continue to reassess our relationships with other countries.

Even as we pursue new relations with nontraditional allies; we continue to adapt our relations with traditional allies to the changing times. But never to their changing fortune: we shall never be opportunists. The basis of our external relations with other countries is, foremost, friendship; and not whatever material benefit we hope to get from them. We scorn talk of mutual benefit first rather than sincere friendship.

We have not backed down in our pursuit of this independent foreign policy. We have stood our principled ground on various issues such as the return of the Balangiga Bells, the West Philippine Sea, the protection and repatriation of displaced persons—ours and that of other countries, the promotion and protection of the welfare of our overseas workers, the decent treatment of migrant workers, most famously the open-arm reception of refugees—and that garbage thing.

Last year, we worked on the Global Compact for Safe, Orderly, and Regular Migration (GCM), which was overwhelmingly adopted by 152 States. We guided that endeavor; we “wisened up”

its tone and direction to fundamental human decency; and we got it adopted by most nations and rejected apologetically by some. For this we were, as expected, rewarded by the rejection of the most worthy candidate for the job of deputy director of the IOM: our own.

But that is public service: thankless. We knew it when we took it.

We have expanded the Department’s global presence to serve millions of Filipinos in 195 countries by opening new Foreign Service Posts—the Philippine Embassy in Copenhagen and the Consulates General in Houston and Frankfurt. And they should be filled with fresh new faces. Everybody should have a chance to serve abroad; because everybody here is good enough for it.

In 2018, we assisted 101,918 Filipinos all over the world through our Assistance-to-Nationals services and 14,542 Filipinos through the Legal Assistance Fund. As of May 31, 2019, the number of beneficiaries of the ATN services and Legal Assistance Fund has reached a total of 56,435 and 2,393 respectively. Thank you Sara Arreola.

We continue to respond to our countrymen’s need for consular services.

From January to December 2018, we issued 4,340,407 passports and from January to May 2019, we have already issued 1,928,241 passports. We simplified the requirements for passport applicants, and we have acceded to the Apostille Convention, which effectively reduces the authentication process by half. And soon we shall revise the guidelines for courtesy diplomatic passports in order to enhance the credibility of passports held by those who really need them for their work. Our diplomats enjoying the protection of the Geneva Convention must, on the face of their blue passports, not be mistaken on purpose as mere tourists who do not enjoy the same. I am assured that our former diplomats are wholeheartedly in favor of this.

We have expanded our services by opening five Consular Offices in Ilocos Norte, Isabela, Laguna, Rizal,

and Davao del Norte. We also recently opened an Authentication Services Center in Davao City. Cebu is next.

To strengthen our frontline processes, we continue to implement the Department’s Quality Management System. In December 2018, our passport and authentication services were recertified to the ISO 9001:2015 standard.

The Department’s work is not easy.

We are on call at all times. And that is why, as we celebrate our foundation day, we recognize the men and women who have gone above and beyond the usual call of public service of sitting on their butts and waiting for the time to pass for the dismissal bell to ring. We are no longer school children. We also recognize the loyalty of our people and the dedication of our various organizations that have significantly contributed to the success of the Department.

These organizations need our financial assistance. It is my hope to realign many budget items for travel toward relieving their financial distress. Let us give a round of applause to all the awardees.Thank you for all you have done; thank you for the institutional memory you have enhanced by your service. I came as I shall go, in the twinkling of an eye but of that instant I shall always say: I am proud to have been your servant and your leader. I thank the hardworking members of the DFA Day Committee for ensuring the success of today’s event.

As an institution, we have been doing our best for more than a century.

The years have seen what we have done; the next generation will decide if we did well by the tasks we left undone; even as the generation that came before already judge us by the challenges they watched us—from the sidelines of retirement or from above as their just reward—surmount or fail. But we know, whether we tried hard or just pretended, serving time and our careers. But, as far as I know, we have done well as shown by those we honor today. Thank you. Happy 121st Anniversary! Mabuhay!

2nd Front Page BusinessMirror

A12 Friday, June 28, 2019

Subic lures ‘firm prospects’ in 2-state US trade mission

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By Henry Empeño | Correspondent

UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) has drawn strong interest from prospective investors in the United States during a series of investment promotion meetings last week with various business groups in the states of Texas and California.

SBMA Chairman and Administrator Wilma T. Eisma, who led the business mission, said that among the firm prospects they encountered was a $10-million hotel operation and management project from owners of the Ramada Hotel in National City, California.

“It was a fruitful mission overall, but the most successful was in San Diego County where we received firm commitments for the hotel project,” Eisma said in a briefing here on Wednesday.

She said the other areas that potential investors favored were ship repair, refrigeration facility

operation, home care, fintech Paypal system and green energy.

Eisma said business groups, particularly in communities with a high concentration of Filipino expatriates, had responded positively to SBMA’s marketing efforts.

“Part of the attraction was the pitch for them to come back and give their original home a chance [to develop further],” she added.

“Because of this strong interest in Subic, they are now scheduling a counterpart trade mission to Subic this October,” she also said.

Eisma said the 10-day SBMA investment road show took them

SBMA Chairman Wilma Eisma signs a cooperation agreement with Leonides Reyes, president of the Filipino-American Chamber of Commerce of Greater Houston. CONTRIBUTED PHOTO

first to Houston, Texas, where she discussed Subic synergies and trade prospects with officials of the Port of Houston Authority led by Chief Commercial Officer John Moseley, and then signed a cooperation agreement to expand SBMA’s global network with Leonides Reyes, president of the Filipino-American Chamber of Commerce of Greater Houston.

Next, the SBMA team met with top executives of the Los Angeles Port Authority and the Federation of Philippine American Chambers

of Commerce at the Port of Los Angeles in California, taking the opportunity to talk about connectivity between the Port of LA and the Port of Subic.

The SBMA official also briefed members of the chamber of commerce in Chula Vista, the second-biggest city in the San Diego metropolitan area, and received inquiries on cold storage facility, ship repair and cruise ship home port projects in Subic.

See “Subic,” A2

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‘Pacific trade pact to boost PHL’s exports to Canada’

By Elijah Felice E. Rosales @alyasjah

I

F the Philippines intends to boost shipments and export freely to Canada, then it has to enlist in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a diplomat said on Thursday.

Canadian Ambassador to the Philippines John Thomas Holmes said Ottawa is committed to improving trade with Manila, but that commitment comes with a price. The best way to boost two-way trade, he argued, is for the Philippines to jump ship to the CPTPP, the largest trade agreement signed to date.

“The easiest solution [to better trade] is for the Philippines to join the CPTPP,” Holmes said at the BusinessMirror Coffee Club forum.

CPTPP parties represent roughly 495 million people and a combined GDP of $13.5 trillion. The CPTPP is a trade deal involving Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The United States used to be a negotiator of the trade deal, but opted out upon the directive of President Donald J. Trump, who views multilateral deals as disadvantageous to Washington’s interests.

“Canada is a trading country. We are talking about Nafta [North American Free Trade Agreement], the agreement with the Europeans, the Ceta [Comprehensive Economic and Trade Agreement] and the CPTPP,” Holmes explained.

“If you take those three big agreements, Canada is now one of the most integrated economies vis-à-vis international trade agreement. We are in Europe [and] in the US and Mexico. We are in the 10 other countries of the CPTPP,” he added.

Enlisting in the CPTPP will also ensure the Philippines will not be affected by any trade remedy Canada applies on imports, especially in steel. Canada is a relentless user of trade remedies and has 83 definitive antidumping measures in place as of 2018.

It is one of the country’s potential markets for steel products, as SteelAsia Manufacturing Corp. in March shipped 10,000 metric tons of rebars to Canada.

“We are happy to see that the Philippines is benefiting from that [Canada being the world’s 16th-largest steel importer]. We don’t see this as a zero-sum game, [as] we see this as beneficial to both economies,”Holmes said.

The proposal to enlist the Philippines in the CPTPP has been one of the focal advocacies of the Asia-Pacific Economic Cooperation (Apec) Business Advisory Council.

In a memorandum to Trade Secretary Ramon M. Lopez last year, the group said Manila should seriously consider joining the CPTPP. The country will apparently be left out in the region if it allows Southeast Asian peers Brunei Darussalam, Malaysia, Singapore and Vietnam to reap all the benefits of the largest trade deal to date.

However, trade officials had said the government is focused on concluding the longdelayed Regional Comprehensive Economic Partnership (RCEP), of which negotiating parties are members of the Association of Southeast Asian Nations, Australia, China, India, Japan, New Zealand and South Korea.

Government data reported bilateral trade between the Philippines and Canada grew 16.66 percent to $1.4 billion last year, from $1.2 billion in 2017. The improved merchandise trade was largely brought about by increased imports from Canada that expanded 19.77 percent to $800.71 million, from $668.53 million. Shipments to Canada also improved 11.45 percent to $600.28 million, from $538.6 million.

News

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Editor: Vittorio V. Vitug • Friday, June 28, 2019 A13

DICT, 2 firms sign pact to build common telco tower infra

By Lorenz S. Marasigan

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@lorenzmarasigan

HE Department of Information and Communications (DICT) signed on Thursday a memorandum of agreement with common infrastructure providers Isoc Infrastructure Inc. and edotco Group Sdn. Bhd. that cements the start of works for their shared tower initiatives.

Under the agreement, the ICT department shall assist Isoc and edotco with all regulatory and ad m in ist rat ive requ irements mandated under Republic Act 11032, or the Ease of Doing Business Act, and Republic Act 10844, or DICT Act of 2015 and in coordinating with other government agencies for matters that are covered by the aforementioned laws.

The DICT shall also allow the two companies to use its properties for the construction of common towers.

In a broader sense, the fiveyear agreement paves the way for Isoc and edotco to begin works in putting up these initial common towers.

Eliseo M. Rio, chief of the ICT department, described this exercise as “testing the waters” for shared

infrastructure.

“Isoc has always been in the forefront of the common tower development in the country [and] they were the first to sign a memorandum of understanding with the DICT, as well as the first tower company to enter into a partnership with a local telco operator,” he said.

Michael C. Cosiquien, Isoc infrastructure chairman, said his group views the common infrastructure

initiative as “vital to state interest.”

“This landmark agreement affirms Isoc’s contribution to the Duterte administration’s vision of improving telecommunications infrastructure and services in the country,” he said.

The government aims to put up at least 50,000 new common towers to help improve tower density in the country and provide end users with better Internet services.

Solon to Duterte: JBC opens application for SC posts to be vacated by Carpio, Jardeleza Endorse pick for House Speaker

By Joel R. San Juan

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RESIDENT Duterte must intervene in the speakership race by endorsing one candidate, thus addressing the “chaos” and alleged vote buying in the House of Representatives, Albay Rep. Joey Salceda said.

Salceda said it is better if President Duterte will pick one among the three candidates for Speaker, namely, Leyte Rep. Martin Romualdez, Marinduque Rep. Lord Allan Velasco and Taguig Rep. Alan Peter Cayetano.

“I think we will see the real choice [for Speaker] on July 15. I don’t see a bloody fight on the floor. As I say, the elephant in the room is the President,” he said.

“I don’t think the President will allow a bloody inside the session hall,” Salceda added.

As the speakership race continues to heat up, the 18-member Liberal Party is going to vote as a bloc, its members said on Thursday.

Caloocan Rep. Edgar Erice said they will support a candidate for a Speaker who is against the revival of the death penalty and the lowering of the minimum age of criminal liability.

T he s e t w o me a s u re s a re pr ior it y bil ls of the Duter te administration.

“We were there to look into the possibility of finding a Speaker to support given our advocacies against the revival of the death penalty and the lowering of the minimum age of criminal liability,” Erice added.

Other groups that will vote as bloc are the Party-list Coalition and the Visayan bloc. A candidate must have 153 votes to win the chamber’s highest post.

According to Erice, LP’s presence in a caucus led by Leyte Rep. Martin Romualdez did not mean that the party has committed to support the lawmaker’s speakership bid.

He, however, said LP members will join the majority coalition in the next Congress.

He added that is why LP members are in caucuses and meetings called by the candidates for speaker.

“We want to know their [candidates for Speaker] stand on the issues that matter to us,” the Caloocan lawmaker said.

“We’re still exploring. Our advocacies must be acceptable to them,” he added, in a mix of English and Filipino.

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@jrsanjuan1573

HE Judicial and Bar Council (JBC) on Thursday announced the opening for application and recommendation of posts in the Supreme Court that will be soon vacated by Associate Justices Francis Jardeleza and Antonio Carpio.

Jardeleza is set to reach his compulsory retirement on September 26, 2019, while Carpio is set to retire on October 26, 2019.

The application and nomination for the said posts will be accepted by the JBC until July 30, 2019.

“Interested applicants must submit two complete sets of application or recommendation with conforme, together with all the documentary requirements to the JBC…,” the announcement read.

Among the requirements needed to be submitted by the applicants are sworn Statements of Assets, Liabilities and Net worth (SALNs) for the past 10 years, or from 2009 to 2018, for those who are currently in government service.

For those who are currently employed in the private sector but were in government service within the past 10 years, all SALNs for those years in government service are required to be submitted to the JBC. Likewise, applicants are required to submit certification issued by banks and other institutions within the application period regarding local or foreign deposits and other investments under the applicant’s name or held jointly with applicant’s spouse, children and other persons or entities.

Jardeleza served as Solicitor General from February 2012 until his appointment as the 173rd Associate Justice of the SC on August 20, 2014.

He also served as Deputy Ombudsman for Luzon.

On the other hand, prior to his appointment to the

SOT bill passage likely on Sona day–DOLE

By Jovee Marie N. dela Cruz

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@joveemarie

MEANWHILE, Bulacan Rep. Rida Robes, vice chairman of the House Committee on People’s Participation, challenged political parties to free their members from rigid party stand in choosing the Speaker for the 18th Congress.

“Let democracy reign in the House of Representatives and give us the freedom to choose our own Speaker,” said Robes.

“The President has spoken and we heard him loud and clear. He will allow legislators to choose their own leaders, and he will not interfere with this democratic process,” Robes added.

OPE is still alive for the passage of the security of tenure bill (SOT) before the start of the 18th Congress after it finally gained the support of the leadership of the House of Representatives and the Senate.

The Department of Labor and Employment (DOLE) said it is anticipating the much-awaited legislation will be signed by President Duterte, either days before or during his State of the Nation Address (Sona) next month.

“We are now just waiting for it to be sent to the office of the President,” Labor Secretary Silvestre H. Bello III said in a radio interview.

Last May, the Senate version of the bill finally passed the third and final reading. The said version was later adopted by the House of Representatives bypassing the needed bicameral conference for the bill.

The office of outgoing House Speaker Gloria Macapagal-Arroyo confirmed it was already signed by the former president.

“The Senate gave the House of Representatives a copy of the bill for the Speaker’s signing only last Tuesday afternoon. SGMA [Macapagal-Arroyo] signed it yesterday [June 26], Wednesday. It should be with the Senate,” Arroyo’s office said.

As of 5 p.m. on Thursday, the Presidential Legislative Liaison Office (PLLO) said it has yet to received a copy of the signed bill.

Once enrolled at the PLLO, the bill may be signed into law or vetoed by Duterte.

Duterte might also opt not to act on it and let it lapse into law 30 days after being received by the PLLO. Bello, however, said there is a high probability it will be signed by Duterte since he certified it as an urgent bill.

“This is an achievement of our President. No other President was able to achieve this,” Bello said.

The SOT bill, while not outright banning contractualization, is considered landmark legislation since it will impose additional restrictions in the practice of the said work arrangement by licensing contractual agencies.

It will also impose fines against contractual agencies, which will violate its provisions.

Jovee Marie N. Dela Cruz

With Bernadette D. Nicolas and Samuel P. Medenilla

Free choice

SC, Carpio served as a member of the Board of Regents of the University of the Philippines from 1993 to 1998.

In 2001, at the age of 52, he was one of the youngest appointees as an Associate Justice of the Supreme Court.

Shortly after his appointment, he launched the Supreme Court e-library, the first full-text searchable and retriev-

able online law library in the Philippines and among the first in Asia.

The JBC is a constitutional body tasked to screen nominees and submit a shortlist of nominees to the President for vacancies in the judiciary and the Office of the Ombudsman.

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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. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

Editor: Efleda P. Campos

Anchor Land allots ₧35-B capital spending till 2021

By VG Cabuag

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@villygc

OUTIQUE property developer Anchor Land Holdings Inc. has allotted P35 billion for capital expenditures until 2021 as it tries to triple its recurring revenues to P2 billion by 2022.

Anchor Land Vice Chairman and CEO Steve Li said the capex will be used to support both its residential and investment projects located mainly in Manila and Parañaque.

The capex will be financed by a

combination of internally generated funds and bank loans, he said.

Anchor Land, a developer focused on the Filipino-Chinese market, expects recurring revenues to reach P1.5 billion in 2020 from about P600

million this year.

Recurring revenues, income that comes from rent, will grow to at least P2 billion by 2022 after the firm completes 272,000 square meters of leasing space by 2021.

“We try to achieve a balance of around 20-percent contribution from our recurring income. We believe we have achieved what we planned. We have diversified. Instead of purely residential development, now we are already into hotel, resorts and commercial development,” Li said at the sidelines of the company’s stockholders’ meeting on Thursday.

This year, Anchor Land will break ground six projects, including two residential projects, two office de-

Meralco to conduct CSP of power requirements

By Lenie Lectura @llectura

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NERGY Secretary Alfonso Cusi said on Thursday the Manila Electric Co. (Meralco) has informed him the utility firm would conduct no later than end-June a competitive selection process (CSP) of its power requirements.

“For the building capacity, I’d like to inform you that we have sat down with Meralco and we are going to already subject to CSP around 2,000 megawatts [MW] by the end of this month. It will be published already in the newspaper of national circulation for CSP to comply with the requirement of the Supreme Court ruling that was passed last month,” Cusi said.

When sought for comment, Meralco Spokesman Joe Zaldarriaga said the utility firm is “closely following the DOE’s CSP guidelines and will publish very soon the invitations to bidders to supply power to Meralco,” Meralco, he added, would bid out “what the system needs in terms of load requirements” and that it would not matter which technology is preferred. “Technology

agnostic. Hindi planta ang uunahin namin; capacity requirements muna,” Zaldarriaga stressed.

The energy chief met Meralco officials on June 13.

The meeting was meant to remind Meralco that the CSP must be conducted soon in a bid to ensure a reliable and steady supply of energy.

“We must act fast because demand continues to grow and we want to be ready to supply the needs of a growing market to ensure that the country will maximize its growth potential,” Cusi said.

Under the CSP, electric cooperatives and distribution utilities must conduct a bidding for the contract of its power supply to ensure transparency and fair competition.

This developed after the release of the SC decision stating that “all Power Supply Agreement [PSA] applications submitted by Distribution Utilities [DUs] to the Energy Regulatory Commission [ERC] on or after June 30, 2015 shall comply with the CSP based on DOE’s 2018 Department Circular.”

The DOE guidelines state that the form of CSP should be bidding or auction, not price challenge.

FDC increases stake in property unit

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OTIANUN-LED Filinvest Development Corp. (FDC) on Thursday said it increased its stake in property developer Filinvest Land Inc. In its disclosure to the Philippine Stock Exchange, FDC said it purchased 1.27 million common shares at P1.75 apiece, or a slight discount from its last traded price of P1.89 per share. It purchased the shares from Invesco Hong Kong Ltd. on June 21.

The shares were equivalent to about 5.24 percent of the property developer, bringing FDC’s shares to about 59.58 percent.

FDC posted a consolidated net income of P3.86 billion in the first quarter of the year, 50 percent higher than last year’s P2.57 billion.

Excluding one-off expenses in the

first quarter of 2018, consolidated net income increased by 37 percent, the company said.

The strong performance was on the back of revenue growth of 22 percent to P18.52 billion from P15.76 billion, composed of contributions from its core businesses in property at 43 percent and banking at 42 percent.

The balance was contributed by its power segment at 11 percent and the sugar group at 4 percent.

“FDC believes that property, composed of the real estate and hospitality segments, continues to be a strong source of growth for the group, contributing more than half of FDC’s bottom line,” it said. VG Cabuag

MINERALS ACCOUNTING Government agencies accountable for monitoring responsible mining in the

Philippines have chosen Taganito Mining Corp. (TMC) as the first mining company to be part of the government’s pilot project referred to as “Minerals Accounting.” The objective of this project is to do an accounting of the country’s mineral resources in order for the government to draft a road map that will effectively define the economic characteristics of the mining industry and other related industries.

TMC, a subsidiary of Nickel Asia Corp. (NAC), with mining operations in Claver, Surigao del Norte, is the first company that the group is engaging for relevant data for this important economic project. The delegation, headed by the Philippine Statistics Authority (PSA), attended a detailed tour of the TMC mine site, as well as the plant site of THPAL, a minerals processing plant in Taganito. The delegation also had representatives from the National Economic and Development Authority, the Department of Environment and Natural Resources, and Mines and Geosciences Bureau.

velopments and two logistics and warehousing centers.

“Other than the six properties we are going to develop this year, we have six other properties that are currently under negotiations. This will most likely fall under our land acquisition by next year,” he said.

“We are launching more and more projects because the demand is very strong and our inventory is being sold out very fast, much faster than what we expect. Also, the economy is getting very promising and quite sustainable,” he said.

The firm is also in the planning stage for two hotel projects to be developed in its 2.6-hectare property in Boracay and 3,000-square-meter lot in Coron, Palawan.

Friday, June 28, 2019

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Most expensive condo in Makati nearly half sold

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HE joint venture of the real-estate arm of the Ty and Sy families has already sold 40 percent of the country’s most expensive condominium in Makati months before its launch in September this year.

The development called The Estate Makati along Ayala Avenue has an average price of nearly P600,000 per square meter, making it the country’s costliest residential property to date, aimed at housing what it calls the captains of the industry and investors.

“It is extremely rare for a 50-50 joint venture in the country because we are very comfortable with each other. There are other possibilities that may happen in the future,” Federal Land President Pascual M. Garcia III said. He also heads ST 6747 Resources Corp.

ST 6747 is the joint-venture company of the Sy’s SM Development Corp. and the Ty’s Federal Land Inc. The Estate Makati will have 54 floors aboveground.

Garcia said the building has a total of 188 units, some 144 of which are three bedrooms, 36 units are two bedrooms, four are sub-penthouses with three-bedroom units and another four super

penthouses with four bedrooms each.

The company has contracted Foster and Partners as its architecture firm.

In all, the company is selling a total of about 41,000 square meters of residential space.

The two-bedroom unit costs between P90 million and P95 million, and the three-bedrooms unit costs between P112 million and P150 million each.

There will be eight penthouse suites consisting of three-bedroom units ranging from 407 to 497 square meters or an average unit size of 450 square meters, while the four-bedroom units will range from 617 sq.m. to 764 sq.m. or an average of 690 sq.m.

Hidden inside each unit is the architectural feature called double-slab technology, which conceals things like utilities, plumbing and electrical in between double slabs of concrete. The unit layout can be customized according to the wishes of the homeowner.

The firm also used double-glazed windows throughout the structure to reduce the flow of heat and external noise entering the building’s façade. VG Cabuag

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Companies BusinessMirror

Friday, June 28, 2019

Rapid devt of New Clark City earns govt praise

By Ashley Manabat

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Correspondent

APAS, Tarlac—The speedy construction of the New Clark City (NCC) here did not escape the attention of the government, earning praises for its rapid development.

Finance Secretary Carlos Dominguez III was one to note that relocating to NCC “makes a lot of sense” for national government offices.

Patterned after Putrajaya in Malaysia, the National Government A d m i n i st rat ive Center (NGAC) at the NCC is part of the Duterte administration’s plan to

decongest Metro Manila.

“The government offices in Manila are scattered all over the city; and for the public, it’s very difficult for them if they have to deal with several ministries to go from one place to another. This makes a lot of sense,” Dominguez said, referring to the NCC.

“We own the land, it’s available, it will be accessible through rail, train, highways, so it makes sense to really consider moving here,” he added.

The BCDA said the NCC will be connected to the Subic-Clark-Tarlac Expressway and the Clark International Airport via access roads. A railway network stretching from Calamba in Laguna to NCC will also be operational by 2025.

BCDA and private partner, infrastructure developer MTD Philippines, commit to finish Phase 1A in two months.

“You know, we laid the groundwork in January of 2018. And in 18 months, this is what you have. This is the result of good planning and excellent management,” said Dominguez of his recent visit to the NCC.

Phase 1A of NCC also involves the construction of world-class sports facilities to be used in this year’s hosting of the South East Asian Games. The facilities include the 20,000-seater Athletic Stadium, 2,000-seater Aquatic Center and an Athletes’ Village enough for 1,000 individuals.

NCC is envisioned to be the country’s first smart, green and resilient metropolis in the country.

“The vision of President Duterte for NCC is really to afford Filipinos with a better quality of life,” said BCDA President and CEO Vince Dizon.

“The President wants to spread growth outside of the cities, and Clark, in the very near future, will be the clear embodiment of this inclusive growth,” Dizon added.

Fiestamall’s Duty Free offers weekend clearance sale

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UTY Free Philippines (DFP) will have a two-day clearance sale on June 29 and 30 at Fiestamall in Parañaque City, offering shoppers discounted items for at most half the original price.

Included in this promo are up to 50 percent off for major categories of women’s fashion and featured fragrance, home furnishing, watches, eyewear and sporting goods, as well as special discount prices on chocolates.

The clearance sale also comes with up to 30-percent markdown on Keleo jewelry; at most 20 percent on toys, snacks and Lacoste; 15 percent on liquor; and 10 percent on groceries, electronics and appliances.

What’s more, overseas Filipino workers (OFW) and repatriates who plan to break into entrepreneurship can now purchase Karcher auto cleaning and detailing package for up to 5 percent off.

The Kabuhayan Shopping Pro-

SNAP-Magat may expand solar-power project by 20 MW

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AMON, Isabela—SN Aboitiz Power-Magat (SNAP-Magat) may expand its 200-kilowatt pilot solar-power project here to 20 megawatts or possibly 50 MW in the near future.

“I’d like to have 20 MW of floating solar. That’s 100 times. This is 0.2 MW,” SNAP President Joseph Yu said.

When asked if the planned expansion could reach 50 MW, Yu said, “For me, I’d like to see that as next phase.”

SNAP-Magat invested nearly P24 million for the 200-kW facility, which is placed over a 2,500-square-meter area over the Magat reservoir. The circular installation is made up of 720 solar panels held in place by four mooring systems.

This is the first non-hydro renewable-energy (RE) project of SNAP, which is looking at other renewables and complementary technologies to expand its portfolio. At present, the project will provide power to SNAP’s facilities in the area.

“A 200-kW capacity supplies most of our internal household already, so this is like the control room, all the air-conditioning, lights that Magat needs to run. So, what would happen, instead of getting that from Magat, they will use it for household requirements,” Yu said. A 10-month stress test will be conducted on the pilot project to ensure that the facility can withstand massive inflows and strong typhoons. Lenie Lectura

gram is provided for under the Balikbayan Law, or Republic Act 9174, which provides duty-free shopping privileges and incentives to all OFW and balikbayans. For 32 years, DFP has provided a duty and tax-free merchandising system to OFWs, repatriates and regular local travelers.

With a capitalization of $91,000, its first store opened on May 2, 1987, at the arrival area of the Ninoy Aquino International Airport. Another outlet with sleek and modern designs

MUTUAL FUNDS

opened its doors at the departure area of the aviation facility a month after. Then, it was followed by a third branch at the Mactan International Airport in Cebu by end of the same year. The flagship store, Fiestamall, opened in April 1997.

Half of the revenues of the retail company, a government-owned and -controlled corporation, is remitted to the Department of Tourism. The latter allocates it to finance tourismdevelopment projects.

June 27, 2019

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

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 267.06 10.59% 0.16% 1.07% 5.88% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6564 15.47% 9.4% 3.01% 14.96% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1434 8.37% 0.39% 0.24% 6.16% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9585 12.16% N.A. N.A. 7.64% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.885 12.38% N.A. N.A. 7.83% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5212 11.67% 1.13% 0.84% 4.74% MBG EQUITY INVESTMENT FUND, INC. -A 121.36 12.08% N.A. N.A. 4.21% ONE WEALTHY NATION FUND, INC. -A 0.8878 10.03% -3.48% N.A. 6.66% PAMI EQUITY INDEX FUND, INC. -A 52.8687 13.86% 1.13% N.A. 7.45% PHILAM STRATEGIC GROWTH FUND, INC. -A 550.12 11.73% 0.19% 0.87% 6.87% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3413 13.56% 2.1% 3.26% 6.96% PHILEQUITY FUND, INC. -A 39.3025 13.85% 2.68% 2.72% 7.29% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0622 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3627 15.03% 2.03% 3.07% 8.15% PHILIPPINE STOCK INDEX FUND CORP. -A 895.59 15.09% 1.75% 3.03% 8.1% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9401 15.56% 1.27% N.A. 9.16% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3758 14.28% 1.92% 2.4% 7.81% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.029 14.44% 1.67% N.A. 7.83% UNITED FUND, INC. -A 3.7685 13.32% 3.49% 2.62% 7.64% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 119.9251 15.54% 2.7% 4.1% 8.29% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$0.9863 -4.52% 5.74% -0.05% 6.16% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.298 1.52% 8.32% N.A. 17.46% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.749 9.54% -0.95% -1.15% 5.92% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3347 6.66% 0.6% 0.81% 5.68% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6761 8.71% 0.21% -1.24% 5.2% GREPALIFE BALANCED FUND CORPORATION -A 1.3626 5.79% N.A. N.A. 4.47% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9493 8.64% 0.9% 1.41% 5.76% PAMI HORIZON FUND, INC. -A 3.7693 9.36% -0.19% 0.66% 6.8% PHILAM FUND, INC. -A 16.9726 10.08% -0.01% 0.69% 6.69% SOLIDARITAS FUND, INC. -A 2.1637 8.13% 0.95% 1.9% 4.41% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9037 11.07% 0.99% 1.58% 6.91% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0242 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0233 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0198 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.002 11.21% 1.28% N.A. 8.71% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03759 8.3% 1.91% 2.16% 6.64% PAMI ASIA BALANCED FUND, INC. -A $0.9885 -3.32% 3.61% -0.61% 5.59% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7588 3.25% 6.39% 2.85% 13.61% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1114 4.17% 4.01% N.A. 10.04% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 350.23 3.5% 2.04% 2.22% 1.99% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8994 2.22% 0.23% -0.13% 2.16% COCOLIFE FIXED INCOME FUND, INC. -A 3.0488 5.63% 5.29% 5.28% 2.63% EKKLESIA MUTUAL FUND INC. -A 2.1851 3.29% 1.28% 1.9% 2.56% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3135 4.38% 1.12% 1.37% 4.72% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6059 2.2% -0.98% 0.06% 2.65% PHILAM BOND FUND, INC. -A 4.1807 6.12% 0.06% 1.24% 6.66% PHILEQUITY PESO BOND FUND, INC. -A 3.6822 5.49% 1.17% 1.46% 4.69% SOLDIVO BOND FUND, INC. -A 0.9399 4.07% -0.29% N.A. 5.3% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9561 7.99% 1.73% 2.12% 6.88% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6426 7.93% 1.3% 1.65% 6.67% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $457.96 3.55% 1.88% 2.74% 2.16% ALFM EURO BOND FUND, INC. -A Є217.39 2.11% 1.49% 1.47% 2.23% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1843 6.57% 1.95% 2.46% 5.2% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 3.64% 1.06% N.A. 3.23% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7153 1.36% -1.33% 0.66% 1.49% PAMI GLOBAL BOND FUND, INC -A $1.0894 5.27% 0.14% -1.93% 4.99% PHILAM DOLLAR BOND FUND, INC. -A $2.3445 9.67% 1.5% 3.26% 7.98% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0591137 4.24% 1.57% 1.82% 3.74% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0847 7.09% 0.84% 2.73% 7.4% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.46 3.7% 2.4% 1.93% 2.17% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0146 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2135 3.85% 1.7% 1.04% 2.67% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2438 3.66% 2.64% 2.02% 2.03% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0279 2.13% N.A. N.A. 1.18%

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

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

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

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PSE STOCK QUOTATIONS

June 27, 2019

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

58 142.1 78.8 27.5 6.76 11.58 71.9 13.2 49.95 57.85 28 170.3 61.25 1.18 2.41 18.64 5.04 7.71 0.49 765 0.97 190

58.4 142.5 78.95 27.6 7.98 11.6 71.95 13.24 50 57.9 28.5 171.5 61.9 1.2 2.42 18.68 5.12 8.6 0.5 790 0.98 191

58 142 79 27.6 7.99 11.6 72 13.24 49.8 57.9 28.3 171.9 62 1.19 2.4 18.72 5.04 7.71 0.51 765.5 0.96 191

58.4 142.8 79.75 27.65 7.99 11.7 72.45 13.26 50.1 57.95 29 171.9 62 1.19 2.42 18.72 5.14 7.71 0.52 765.5 0.97 191

58 141.6 78.8 27.5 7.99 11.6 71.95 13.24 49.1 57.85 27.8 170.1 61.25 1.15 2.4 18.68 5.01 7.71 0.49 765 0.96 190

58.4 142.5 78.8 27.5 7.99 11.6 71.95 13.24 49.95 57.95 28.5 171.5 61.25 1.15 2.42 18.68 5.12 7.71 0.51 765 0.97 190

3000 2225000 2697940 178400 200 977700 2280580 101400 217000 1260 1108500 97570 21450 100000 49000 14500 244400 6000 347000 200 134000 1240

174800 316518157 213474403.5 4913605 1598 11376410 164365047.5 1342550 10826315 72984 31375900 16718022 1324342.5 116920 117940 270868 1245565 46260 170800 153015 129630 236160

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE BOGO MEDELLIN CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO ROXAS HLDG UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

1.36 35 0.265 27.05 83.05 382.6 25 5.88 4.64 2.64 12 38.45 6.48 14.3 89.2 16.7 15 6.01 10.4 7.67 107.4 0.8 63.3 284 9.15 14.1 0.186 1.7 14 1.39 1.9 173.9 1.24 2.62 87.2 100 2.98 5.02 15.64 10.8 13.5 18.96 1.22 1.5 105 2.05 1.59 3.35 4.99 41.65 2.56 10.14 1.7 1.26 20

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

0.93 14.3 896 55 15.32 3.97 6.72 0.72 1.39 1.39 6.7 10.42 13.9 4 0.232 939 6.3 66 6.05 4.62 0.49 4.1 15.22 0.65 4.81 0.039 1.38 1.35 427.2 975 176.8 0.84 0.232 0.33

1.38 35.2 0.275 27.25 83.1 387 25.1 5.89 4.68 2.65 12.2 38.5 6.56 14.42 95 16.74 15.04 6.02 10.48 7.68 109 0.81 63.5 284.2 9.45 14.12 0.195 1.71 14.04 1.4 1.99 174 1.25 2.73 88.9 105 2.99 5.3 15.7 10.84 13.6 19 1.24 1.51 113.8 2.1 1.75 3.46 5.08 42 2.57 10.18 1.71 1.27 20.05

1.36 35.2 0.27 26 83.9 381 25 5.95 4.58 2.65 12.12 38.35 6.55 14.42 95 16.7 15 6.05 10.38 7.67 106.1 0.77 61 285 9.13 14.2 0.186 1.54 13.9 1.38 1.87 173.2 1.24 2.64 110 148 3.08 5.21 15.78 11.02 13.44 18.92 1.25 1.49 105 2.02 1.75 3.46 5.09 41.95 2.52 10.14 1.67 1.18 20.4

1.38 35.2 0.275 27.4 84.1 387 25.15 5.95 4.72 2.7 12.2 38.9 6.57 14.42 95 16.7 15.2 6.1 10.52 7.7 109 0.82 64 286 9.5 14.22 0.186 1.75 14.22 1.4 1.9 174.3 1.28 2.76 120 148 3.22 5.21 15.78 11.02 13.64 19 1.25 1.53 113.8 2.1 1.75 3.46 5.09 42 2.56 10.18 1.71 1.29 20.4

1.35 34.95 0.26 26 82 381 24.45 5.87 4.58 2.59 11.98 38.05 6.48 14.28 95 16.7 15 6.01 10.36 7.63 106.1 0.76 60.95 283.4 9.13 14 0.186 1.54 13.9 1.38 1.87 172.2 1.23 2.63 80 88 2.96 5.01 15.5 10.66 13.42 18.9 1.22 1.46 105 2.02 1.75 3.46 5.09 41.95 2.49 10.04 1.66 1.18 20

1.38 35 0.265 27.05 83.1 387 25 5.88 4.66 2.65 12.2 38.5 6.56 14.42 95 16.7 15 6.01 10.4 7.68 109 0.8 63.5 284 9.45 14.1 0.186 1.7 14.04 1.4 1.9 174 1.25 2.63 88.9 100 2.99 5.01 15.7 10.84 13.6 19 1.24 1.5 113.8 2.1 1.75 3.46 5.09 42 2.56 10.18 1.7 1.26 20.05

77000 1317000 6080000 10793600 1029740 230560 898500 1626600 126000 26377000 138200 261000 182300 928200 200 1200 12600 105700 4781600 8297300 269160 5168000 377050 358860 30500 468400 20000 28599000 454700 365000 7000 811500 22111000 35000 159930 177680 56203000 110000 1238300 544600 445300 1670200 592000 7654000 810 185000 5000 1000 2000 53100 6229000 150500 625000 1609000 193600

104310 46111195 1629150 290367970 85198803.5 88696648 22381330 9593871 590500 69511660 1675618 10049645 1183834 13359934 19000 20040 189176 637728 49859562 63482616 28720968 4126810 23660408 101981494 279724 6594504 3720 47497920 6379640 506760 13120 140990105 27621180 93500 14972665.5 17593335.5 172444790 554966 19406304 5873034 6039844 31727758 729210 11419330 89038 385370 8750 3460 10180 2230065 15763130 1525800 1061420 1979130 3883940

-0 107394804 -73194006 -1100350 -1189918 -31333446 6208030 -8692.5 -601355 3002556 762815 -46260 -9600 129200 -21153980 97250095 133638 33979036 5056355 -2489400 6420310 -71610.0002 -3138005 6838144 -53992 -37875 7142342 21834863 -94687 -64800 4157451.5 -13975780 1197826 3091330 -4451608 -7726038 -6941630 45086750 -5933970 1232024 217394 -1421660 -7440 -4110 -16905 531840 769062 -521429.9998

HOLDING & FRIMS 0.94 14.32 898.5 55.35 15.36 3.98 6.77 0.73 1.4 1.41 6.74 10.46 14.1 4.49 0.248 940 6.37 67 6.24 5.29 0.495 4.14 15.28 0.66 4.82 0.04 1.39 1.37 439.8 976 178 0.87 0.235 0.335

0.87 13.38 896 54.5 15.24 3.98 6.78 0.74 1.34 1.39 6.61 10.46 14.04 4.49 0.24 920 6.23 67 6.03 5.29 0.5 4.1 15.28 0.65 4.83 0.038 1.21 1.37 427.2 952 175.9 0.89 0.232 0.315

0.97 14.32 899 55.9 15.46 3.99 6.78 0.74 1.41 1.42 6.75 10.52 14.2 4.49 0.249 940 6.3 67 6.24 5.29 0.51 4.14 15.32 0.66 4.83 0.041 1.39 1.37 440 975.5 178 0.89 0.235 0.335

0.87 13.2 894 54.45 15.2 3.9 6.78 0.72 1.34 1.39 6.61 10.26 13.82 4.49 0.24 919 6.23 66.2 6.03 5.29 0.48 4.01 15.22 0.64 4.77 0.038 1.21 1.37 427.2 951.5 175.9 0.85 0.232 0.31

0.93 14.3 896 55 15.32 3.98 6.78 0.73 1.4 1.42 6.7 10.46 14.1 4.49 0.249 940 6.3 67 6.24 5.29 0.49 4.14 15.28 0.66 4.81 0.04 1.39 1.37 440 975 178 0.87 0.235 0.33

138199000 231000 421470 1383150 5658200 13068000 1500 2710000 13208000 841000 1812300 3328600 222600 19000 1010000 61660 489000 992920 300 100 140000 890000 2320700 2635000 15722000 36900000 5845000 51000 50 258740 66330 150000 630000 72550000

128214270 33950170 3214332 -167208 377950080 -67984005 76073147.5 21167691 86924846 -43417202 51556500 2110380 10170 1973020 18250360 1177600 12115321 4524551 34554428 -9284478 3126034 -61368 85310 242490 57831975 32936090 3048010 -2830940 66358382.5 23608075.9996 1830 529 68415 3648110 -1495020 35426918 7210224 1712500 99000 75577270 18765270 1457600 7897070 -66500 69870 21744 251469690 177980235 11735206 -465944 127750 146220 23313650 -1590650

PROPERTY

ARTHALAND CORP 0.86 0.87 0.85 0.88 0.85 0.86 2141000 1850670 -43500 ANCHOR LAND 10.32 11 10.58 11 10.58 11 7200 77032 AYALA LAND 50.6 50.7 50.65 50.9 50.45 50.6 10739880 543645252 -7758878 BELLE CORP 2.31 2.35 2.32 2.34 2.31 2.31 250000 578350 -60120 A BROWN 0.83 0.85 0.85 0.85 0.84 0.85 373000 313930 -25200 CITYLAND DEVT 0.92 0.93 0.93 0.93 0.93 0.93 18000 16740 CROWN EQUITIES 0.237 0.239 0.24 0.24 0.237 0.237 3150000 746770 CEBU HLDG 6.1 6.25 6.15 6.25 6.1 6.1 34200 208823 -189823 CEB LANDMASTERS 4.8 4.83 4.8 4.85 4.8 4.8 627000 3012520 CENTURY PROP 0.59 0.6 0.6 0.6 0.58 0.6 8882000 5241190 -182900 CYBER BAY 0.455 0.46 0.45 0.475 0.445 0.46 4070000 1867200 2050 DOUBLEDRAGON 24.8 25 25 25.25 24.65 24.8 652600 16265140 4439545 DM WENCESLAO 9.68 9.7 9.75 9.9 9.7 9.7 471100 4577431 1558484 EMPIRE EAST 0.47 0.475 0.48 0.48 0.47 0.47 2540000 1198500 -977500 EVER GOTESCO 0.125 0.13 0.125 0.125 0.125 0.125 500000 62500 FILINVEST LAND 1.89 1.91 1.98 1.99 1.87 1.89 139139000 269398670 -75534560 GLOBAL ESTATE 1.37 1.38 1.31 1.38 1.31 1.38 5064000 6856460 448160 8990 HLDG 15.66 15.68 15.52 15.7 15.5 15.66 2277500 35314184 -1068786 PHIL INFRADEV 1.91 1.92 1.83 1.92 1.83 1.91 9683000 18221150 -2333980 CITY AND LAND 0.81 0.82 0.81 0.82 0.79 0.82 878000 707240 MEGAWORLD 6.05 6.1 6.03 6.13 6.03 6.1 11467500 69677069 4365629 MRC ALLIED 0.34 0.345 0.35 0.355 0.345 0.345 25850000 9029050 379700.0001 PHIL ESTATES 0.46 0.475 0.465 0.465 0.465 0.465 50000 23250 PRIMEX CORP 2.11 2.13 2.12 2.15 2.09 2.13 730000 1542370 ROBINSONS LAND 26.4 26.45 26.05 26.45 26.05 26.45 1492300 39370530 20442800 PHIL REALTY 0.405 0.41 0.405 0.405 0.4 0.4 2340000 946100 -132200 ROCKWELL 2.11 2.12 2.12 2.12 2.1 2.11 213000 448500 -393470 SHANG PROP 2.98 2.99 2.99 2.99 2.97 2.97 149000 444110 2980 STA LUCIA LAND 1.89 1.91 1.93 1.99 1.89 1.91 1078000 2081450 SM PRIME HLDG 37.9 38 37.8 38.15 37.8 37.9 20349200 771,548,620( 342,352,744.9995) STARMALLS 6.32 6.4 6.5 6.5 6.31 6.4 93400 598623 SUNTRUST HOME 0.75 0.76 0.75 0.76 0.75 0.76 40000 30330 VISTA LAND 7.07 7.13 7.08 7.13 7.05 7.13 3854800 27409315 -7418712

SERVICES ABS CBN 17.14 17.24 17.1 17.24 17.08 17.24 94800 1627366 GMA NETWORK 5.39 5.4 5.39 5.4 5.38 5.39 164600 887343 MANILA BULLETIN 0.53 0.54 0.53 0.54 0.52 0.53 362000 191940 GLOBE TELECOM 2250 2280 2240 2280 2240 2280 64360 145992440 25594470 PLDT 1291 1303 1280 1304 1280 1303 118600 153915470 32862075 APOLLO GLOBAL 0.044 0.045 0.043 0.045 0.043 0.045 1500000 66200 DFNN INC 5.85 6.35 5.85 6.35 5.85 6.35 200 1220 IMPERIAL 1.75 1.8 1.8 1.8 1.8 1.8 21000 37800 ISM COMM 6.74 6.75 6.91 6.91 6.7 6.75 10551100 71427071 -5889432 JACKSTONES 3.04 3.2 3.04 3.2 3.04 3.2 7000 22020 NOW CORP 2.53 2.54 2.5 2.54 2.41 2.53 2163000 5341720 20310 TRANSPACIFIC BR 0.39 0.395 0.4 0.405 0.385 0.395 10650000 4177650 19750 PHILWEB 3.64 3.65 3.6 3.72 3.55 3.64 3620000 13205800 366750 2GO GROUP 11.14 11.2 11.12 11.18 11.12 11.18 21700 241850 1112 ASIAN TERMINALS 20.8 21.3 20.8 20.8 20.65 20.65 10600 220265 CHELSEA 8.29 8.3 8.11 8.3 8.1 8.29 2655600 21841169 1801537.0001 CEBU AIR 91.2 91.25 89 92 88.9 91.2 265510 24189042 -6115357.5 INTL CONTAINER 146 146.9 144.8 147 144.4 146.9 1492130 218336993 69537123 LBC EXPRESS 14.5 14.88 14.9 14.9 14 14.26 2200 31066 LORENZO SHIPPNG 0.82 0.83 0.81 0.82 0.8 0.82 409000 332260 MACROASIA 19.2 19.28 19.3 19.3 19.04 19.28 1680300 32346620 18354740 METROALLIANCE A 1.6 1.67 1.68 1.68 1.6 1.6 20000 32240 METROALLIANCE B 1.58 1.67 1.55 1.55 1.55 1.55 30000 46500 PAL HLDG 9.2 9.35 9.2 9.35 9.15 9.35 28900 267715 11960 HARBOR STAR 2.19 2.21 2.25 2.25 2.18 2.19 3079000 6799630 124260 ACESITE HOTEL 1.41 1.43 1.38 1.43 1.35 1.43 64000 86700 BOULEVARD HLDG 0.054 0.055 0.055 0.056 0.054 0.055 59960000 3297870 55000 WATERFRONT 0.76 0.77 0.75 0.8 0.74 0.77 9520000 7335590 2370 CENTRO ESCOLAR 6.98 7.18 7.22 7.22 6.99 6.99 600 4217 STI HLDG 0.73 0.74 0.74 0.76 0.74 0.74 4831000 3586020 1923020 BERJAYA 2.74 2.77 2.72 2.77 2.7 2.77 437000 1188890 BLOOMBERRY 11.3 11.38 11.28 11.44 11.2 11.3 5493300 61989334 -15764154 PACIFIC ONLINE 3.07 3.1 3.07 3.1 3.06 3.1 71000 217520 -48970 LEISURE AND RES 4.14 4.15 4.16 4.19 4.13 4.15 378000 1569820 MANILA JOCKEY 3.2 3.25 3.15 3.2 3.15 3.2 29000 92700 PH RESORTS GRP 5.4 5.54 5.68 5.69 5.22 5.54 773200 4377015 3967376 PREMIUM LEISURE 0.78 0.79 0.79 0.8 0.78 0.78 1346000 1055750 -309260 PHIL RACING 8.21 9.18 9.19 9.19 9.19 9.19 800 7352 TRAVELLERS 5.25 5.33 5.22 5.33 5.19 5.3 4013400 21028876 -13657579 METRO RETAIL 2.54 2.55 2.58 2.59 2.53 2.55 2211000 5652700 -57110 PUREGOLD 44.3 44.35 44.3 45 44.3 44.35 577000 25616100 -13930600 ROBINSONS RTL 73.3 73.7 75.8 75.8 73 73.7 777680 57241015.5 -15957353.5 PHIL SEVEN CORP 136.5 137 136 137 136 136 2850 388130 252130 SSI GROUP 3.55 3.59 3.6 3.64 3.51 3.59 6053000 21605570 5698560 WILCON DEPOT 17 17.06 17.42 17.5 16.9 17 2666400 45848120 -1030320 APC GROUP 0.48 0.485 0.48 0.48 0.47 0.48 1860000 885250 -47500 EASYCALL 10.18 10.3 10.28 10.3 10.14 10.18 54100 551798 GOLDEN BRIA 398 407 407 407 392.6 407 2640 1074176 IPM HLDG 5.85 6 6 6 6 6 100 600 PRMIERE HORIZON 0.82 0.83 0.83 0.84 0.82 0.83 11214000 9239060 1681000 SBS PHIL CORP 9.28 9.35 9.27 9.36 9.26 9.29 113600 1056329

MINING & OIL ATOK 11.4 12.38 12.38 12.38 12.38 12.38 200 2476 APEX MINING 1.23 1.26 1.24 1.27 1.23 1.23 1994000 2483190 -1637040 ABRA MINING 0.0018 0.0019 0.0019 0.0019 0.0018 0.0018 9000000 16900 ATLAS MINING 2.65 2.79 2.69 2.79 2.65 2.79 116000 308810 -244660 COAL ASIA HLDG 0.28 0.285 0.285 0.285 0.285 0.285 20000 5700 CENTURY PEAK 2.78 2.85 2.81 2.85 2.78 2.84 813000 2282280 DIZON MINES 7.69 7.7 7.97 7.97 7.66 7.69 60100 467114 FERRONICKEL 1.49 1.5 1.49 1.5 1.48 1.5 792000 1182560 74500 GEOGRACE 0.22 0.229 0.229 0.229 0.22 0.228 200000 44620 LEPANTO A 0.116 0.119 0.117 0.119 0.113 0.119 2970000 340050 LEPANTO B 0.12 0.128 0.121 0.129 0.121 0.129 350000 43540 MANILA MINING A 0.0077 0.0081 0.0079 0.008 0.0076 0.008 8000000 62600 MARCVENTURES 1.02 1.03 1.03 1.03 1.02 1.03 181000 185980 77000 NIHAO 0.99 1.02 1.02 1.02 0.99 0.99 17000 16890 NICKEL ASIA 2.24 2.26 2.29 2.31 2.21 2.24 1862000 4197060 -883930 OMICO CORP 0.54 0.55 0.55 0.55 0.54 0.55 175000 95190 27540 ORNTL PENINSULA 0.88 0.89 0.9 0.9 0.87 0.88 322000 284740 PX MINING 3.56 3.59 3.63 3.63 3.56 3.57 1471000 5272950 656610 SEMIRARA MINING 22.8 22.85 22.75 23.15 22.65 22.8 4439500 101225055 -11835565 UNITED PARAGON 0.0064 0.0068 0.0065 0.0066 0.0064 0.0065 17000000 110500 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 4700000 56400 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.011 0.012 23900000 286700 -30000 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 12500000 131300 PHINMA PETRO 4.8 4.85 4.69 4.98 4.59 4.8 379000 1800630 -24000 PXP ENERGY 7.7 7.74 7.71 7.86 7.68 7.71 468800 3629923 117590

PREFFERED

HOUSE PREF A 94.15 96.9 95 96.9 94 96.9 3480 327635 AC PREF B2 487 492 487 492 487 492 60 29270 ALCO PREF B 98.1 99 99 99 99 99 90 8910 ALCO PREF C 100 100.1 100 100 100 100 25000 2500000 DD PREF 99.9 99.95 99.9 99.95 99.9 99.95 860 85920 11994 SMC FB PREF 2 963 979.5 963 963 963 963 150000 144450000 FGEN PREF G 106 108.7 105.1 105.1 105.1 105.1 20 2102 GLO PREF P 480 495 480 495 480 495 4050 2004450 GTCAP PREF A 900 910 900 900 900 900 40 36000 GTCAP PREF B 901 924.5 925 925 900 900 310 281760 MWIDE PREF 99.8 102.2 102.3 102.3 102.3 102.3 10 1023 PNX PREF 3B 103.1 107 106.8 106.8 103.1 103.1 50 5229 PCOR PREF 2A 986 998 998 998 998 998 200 199600 -199600 PCOR PREF 3A 1000 1010 1000 1000 1000 1000 1000 1000000 PCOR PREF 3B 1001 1008 1005 1008 1005 1008 190 191310 SMC PREF 2C 76 76.5 76 76 76 76 1000 76000 SMC PREF 2D 72.05 73.8 72 72 72 72 1000000 72000000 SMC PREF 2G 73.5 74.4 73.25 73.5 73.25 73.5 1860 136585 SMC PREF 2H 72.05 73.8 73.75 73.75 73.75 73.75 1500 110625 SMC PREF 2I 72.05 73 73 73 72 72 775420 56593614.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.82 5.16

17.2 5.49

17.2 5.4

17.2 5.4

17.2 5.4

17.2 5.4

500 10000000

8600 54000000

WARRANTS LR WARRANT

1.91

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.88 XURPAS 1.08

1.94

1.94

1.94

1.91

1.91

131000

250900

-

4.9 1.09

4.88 1.07

4.91 1.11

4.86 1.07

4.88 1.09

300000 6148000

1463280 6745660

395200

EXHANGE TRADE FUNDS FIRST METRO ETF

119.5

-54000000

120.5

119.9

120.5

119.4

120.5

4570

548547

-1219

www.businessmirror.com.ph

Banking&Finance BusinessMirror

A number of unbanked Pinoys want to place savings in banks–PDIC poll

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By Manuel T. Cayon |

@awimailbox Mindanao Bureau Chief

AVAO CITY—A nationwide public awareness survey commissioned by the Philippine Deposit Insurance Corp. (PDIC) shows “significant preference” among the unbanked sector to put their savings in banks if resources are made available to them.

The PDIC said the preference among unbanked Filipinos to have a deposit account would help the government-run deposit insurance fund craft programs to entice the unbanked to patronize banks.

The PDIC, however, failed to reveal the details of the survey, including the number of respondents who said they prefer to place their money in the bank.

It only said that a “significant” number preferred to bank their money, and the “majority” of the

unbanked Filipinos said “they would save in banks if they had extra money to save.”

The PDIC said results of the survey shows that 51 percent of the respondents had experience in maintaining deposits in banks but only half of them (24.5 percent) currently maintain bank deposits.

“This indicates that half of the respondents surveyed are unbanked, having had no banking experience at all, the majority of whom said they would save in banks if they had extra money

100% Pure New Zealand: An enduring brand

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HE last of a three-part narrative on my participation in the Tourism New Zealand (TNZ)-hosted Asian association familiarization (“famil”) tour program held from May 25 to 30, 2019, is about the country’s successful and enduring tourism marketing and branding campaign, “100% Pure New Zealand.”

I thought of writing this to showcase the importance of country branding insofar as destination marketing and its economic impact are concerned and, from our perspective as associations organizing or hosting international conferences and business events, the value it provides to us in terms of consistency of messaging and recall.

Started in 1999, the “100% Pure New Zealand” campaign has evolved and is still evolving.

At the beginning, the country was promoted as a scenic and natural playground, blessed with pristine environments and a picturesque landscape. It has also helped the country’s “clean and green” reputation. Recently, TNZ Chief Executive Stephen England-Hall has articulated the four principals at the heart of the “100% Pure” brand: people, culture, activities and landscapes.

He also added that what they’re doing with the next evolution, without giving too much away of the general creative direction, is “to amplify and increase the volume of people and cultural aspects of New Zealand.”

According to TNZ, the country’s national tourism board, even as far back as 10 years ago, 1 billion people have already seen the coverage of New Zealand and its “100% Pure” values in print, broadcast and online media. The economic success of the “100% Pure” branding is also demonstrated in the increase of NZ tourism from 1.6 million visitors in 1999, when the campaign started, to 2.5 million visitors in 2010, and to a record 3.34 million visitors in the 12-month period ending July 2016, which is considerable for a country with

Association World Octavio Peralta a population of only 4.5 million.

As a result, tourism now surpasses dairy farming as New Zealand’s biggest export earner, partly because of the success of the “100% Pure” branding. Annual data released by TNZ shows that international tourism has pumped $14.5 billion into the economy and directly employed over 188,000 people for the year ending March 2016 and is still growing.

What I have witnessed in New Zealand during our fiveday hectic schedule is something remarkable that tourism policy and decision-makers here may wish to study and emulate. It’s about all stakeholders working together with a focused goal and a country branding that works for them.

For me personally, “100% Pure” means the authenticity and kindred hearts of the TNZ people who organized the familiarization program, those we encountered during the many meetings and visits we had, and all those who have made our short but memorable stay in the country forever etched in our hearts!

The contributor, Octavio “Bobby” 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, and the Philippine International Convention Center.

E-mail: obp@adfiap.org

to save,” the PDIC said. This was voiced by the younger population aged 18 to 29 years old who reside in urban areas, reflecting the potential for savings mobilization among the youth, the insurer added.

The PDIC said the result of the survey “reflects the public’s continued trust in the security provided by banking institutions.”

However, the insurance fund manager didn’t say if the low interest on deposit, often the subject of criticism among depositors, figured out in the question or in perception of respondents. The PDIC only said that “there were also those who shy away from banks because they found banking transactions too complicated.”

Also, the survey said “lack of enough money to save was cited

Head of group’s insurance tech committee plans to onboard more services

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HE new chairman of the insurance technology (InsurTech) committee of the Financial Technology Philippines Association aims to foster stronger collaboration among insurance industry stakeholders to be able to cover more Filipinos with some form of insurance.

“We are hoping that we can on-board more services so that it can be easier for customers to access our products,” Melissa Henson told reporters on Wednesday.

According to Henson, chief marketing officer of the Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife Philippines), the move is not only seen to increase the number of Filipinos covered by insurance but it will also increase financial literacy. She added the committee headed by Manulife Philippines aims to educate and communicate with insurance stakeholders, as well as help more people embrace a culture of innovation.

“We’ve been a member of the organization since 2018 and the interest for us is really because our goal as a company is to try to make insurance easy for customers, to make our customers have the easiest time working with Manulife because we want to be a digital leader,” Henson added. “To be able to do that, it’s very important for us to be able to learn new technologies, emerging technologies, and also gain access to new solutions that we can potentially use to make our customer experience better and easier.”

Manulife Philippines hopes to achieve this by leveraging its regional and global presence to provide access to actionable information, exploring joint industry research and studies, as well as using technology to foster financial awareness and promote the importance of insurance.

Based on the Bangko Sentral ng Pilipinas 2017 Financial Inclusion Survey, only 18 percent or 12.3 million of the country’s adult population have insurance, which means that insurance companies still need to cover 82 percent of the adult population.

“What we hope to do as the Chair of the InsurTech committee is foster collaboration across the industry so that we can increase insurance penetration and adoption and accessibility of insurance in the market,” she said. “So we hope to be able to foster all these practice sharing, collaborate more as an insurance community so that we can cocreate and find solutions that would really demystify insurance for Filipinos and make it more accessible.” Rea Cu

as the main reason for not saving in banks.”

It added: “respondents also found keeping money at home [more] convenient and accessible.”

The PDIC said the survey aims to measure the respondents’ banking behavior, as well as their level of awareness on deposit insurance, “which will help PDIC develop and implement responsive communication programs to promote saving and enhance depositor protection.”

“PDIC will continue to work with financial regulators and the banking community to encourage more people to save, to promote the value of saving in banks so they can benefit from the protection provided by deposit insurance, and to help in making saving in banks accessible and less difficult for potential depositors,” PDIC President Roberto B. Tan said.

T he sur vey was conducted early this year and covered 1,500 respondents aged 18 and above.

The PDIC commissioned Kantar Philippines Inc. to conduct the survey for them.

The PDIC said Kantar Philippines Inc. was established in 1980 and is currently the country’s largest research market agency specializing in data, insight and consultancy services.

Friday, June 28, 2019

B3

Chinese among 6 nabbed for owning cigarette labeling, packaging units

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IVE Chinese nationals and a Filipino who allegedly own five machines used for printing fake cigarette labels and packaging in Valenzuela City were nabbed by authorities this week.

The equipment, inside the warehouse of Michel Printing Services, Maysan Road corner A. Cantillon Street, Valenzuela City, is valued at P75 million, an official of the Bureau of Customs (BOC) said.

In a statement issued on Thursday, the BOC said information on these suspects stemmed from the anti-smuggling operation on June 25. The BOC added that it received information that a certain warehouse in Valenzuela City might be involved in the smuggling of fake cigarette labels and packaging.

On the same day, armed with a letter of authority (LOA) from the Office of the Commissioner, the combined forces of the bureau’s Enforcement and Security Service (ESS), Intelligence and Investigation Service (CIIS), BOC’s Action Team Against Smugglers (Batas), Philippine Coast Guard-Special Operation Group, and Customs Examiners went to Valenzuela City to conduct an investigation for possible violation of Customs laws, rules and regulations.

Found inside the warehouse were illegally imported printing machines, cutting machines used for printing unauthorized cigarette pack labels and carton labels bearing the brands Fortune, Mark, Hope, More and Jackpot.

BOC-ESS Director Yogi Filemon L. Ruiz said in a text message to the BusinessMirror that they estimate the counterfeit cigarette packs to run into the billions.

The pack labels and carton labels, otherwise known as “hinge lid blanks,”

were confirmed as fake by representatives from the Philip Morris Fortune Tobacco Corp. They also confirmed the goods do not bear the characteristics of the original/genuine Fortune, Mark, More and Jackpot hinge lid blanks.

The five Chinese nationals arrested were identified as Kevin Tan, Alex Chan, James Sy, Tin Fu, and one alias Tonyo, including one Filipino identified as a certain Michael Jamora.

A criminal case was filed against the arrested suspects for violation of the provisions of Republic Act 8293, otherwise known as the Intellectual Property Code of the Philippines and pertinent provisions of RA 10863 or the Customs Modernization and Tariff Act. Last year, the Department of Finance (DOF) ordered the Bureau of Internal Revenue (BIR) and the BOC to stop the illicit entry of cigarette-making machines in the country, to deter the making of counterfeit tobacco products.

Finance Secretary Carlos G. Dominguez III issued the order after confirming with BIR Commissioner Caesar R. Dulay that the illegal tobacco trade has shifted from smuggling cigarettes to producing counterfeit brands here, using undocumented cigarette-making machines acquired from China.

The finance chief instructed Dulay and Customs Commissioner Rey Leonardo B. Guerrero to coordinate with Chinese officials to inform them about this new illicit scheme and to ask them to stop the export of cigarette-making machines to the Philippines without the proper documentation.

Previous BIR raids showed that counterfeiters can manufacture fake versions of popular brands using smaller, more portable versions of the machines and devices for making cigarettes. Rea Cu

B4 Friday, June 28, 2019

PHL STAGES ‘BIGGEST PLAYGROUND’ FROM JULY 11 TO 13 AT THE WORLD TRADE CENTER! MAKATI CITY ATTAINS 71% REVENUE TARGET, COLLECTS P12 T IN MAY

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HE city government of Makati collected a total of P12.1 billion in revenue as of May 31, tantamount to 71 percent of the P17.12-billion revenue target for the entire year, according to Mayor Abby Binay.

“At the rate we are going, we expect to surpass our full-year revenue target before this December. With our stable financial standing, we will be able to implement new initiatives and enhance current programs and services for Makatizens,” Binay said.

Major projects that the mayor has vowed to pursue as she starts her second term in July include the upgrading of public-school facilities to befit the digital age; continuing modernization of the Ospital ng Makati in Pembo and completing of the new state-of-the-art hospital in Malugay; and establishing of a public columbarium offering free cremation and inurnment services to city residents.

In a report to the mayor, city treasurer Jesusa Cuneta stated that, as of May 31, the city collected P12.2 trillion, and has attained 66 percent of its target collections from business tax and 95 percent of its target for realproperty tax.

From January to May collections from business tax reached P6.4 billion, out of the P9.8-billion target, while real property-tax payments generated P4.5 billion of the almost P4.8-billion goal.

According to the business permits office, the city has registered 2,477 new businesses as of last June 21, with combined capital investment amounting to P23.3 billion. In the same period a total of 34,542 businesses have renewed their permits, reporting a combined sales of P1.4 trillion.

The city has also derived income from other sources, including fees and charges, P531.1 million; economic enterprises, P76.8 million; interest income, P106.5 million; and internalrevenue allotment, P494.1 million.

Meanwhile, Binay mentioned that 31 satellite realty tax-payment centers will be opened by the office of the city treasurer on scheduled dates, in various barangays starting July 2, for real property owners with taxes due this third quarter.

“Real-property owners in the city are encouraged to take advantage of this opportunity, as it would help them save time, energy and transportation expenses,” Mayor Abby added.

The mayor said that, through the realty-tax division under the finance department, the cit y government ensures the efficiency of services at the satellite-payment centers, where each transaction usua l ly ta kes a maximum of five minutes. Taxpayers only need to present their previous receipt and pay the taxes due to receive an electronic receipt.

Based on the city’s Revenue Code, Makati offers a 5-percent discount for quarterly payments made during the first 20 days of the quarter (July 20 for the third quarter). On the other hand, late quarterly payments will incur a penalty of two percent per month.

The realty tax division on the second-floor level of the Makati City Hall Building 1 will also be open to serve taxpayers on Saturdays from 8 a.m. to 4 p.m. on July 6, 13 and 20. On weekdays, from July 1 to 19, it will be open to serve clients from 8 a.m. to 7:30 p.m.

Moreover, the business tax division on the ground-floor level, Makati City Hall Buildig 2, will be open from Monday to Friday from 8 a.m. to 7:30 p.m. starting from July 1 to July 19, and on Saturday from 8 a.m. to 4 p.m. on July 6, 13 and 20.

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LL roads lead to the World Trade Center in Pasay City from July 11 to 13, as the Philippines hosts this year’s Philippine Attractions and Amusement Expo 2019 (PAExpo2019), the biggest event in the entertainment, gaming and arcade sector organized

by Singapore-based HQ Bizlink International Pte. Ltd. David Chow, president of HQ Bizlink, said the event is free of charge to the public as he described the PAExpo2019 as the biggest and most exciting exposition.

“We would like to invite all of you to come and join us [from] July 11 [to] 13 to witness one of the most exciting expos happening [at the] World Trade

Center,” Chow said. He added that visitors of can see and experience new attractions, as well as modern games from around the world.

According to Chow, the PAExpo2019 would be divided into two main sections.

One will feature attractions for theme parks, while the other section will focus on the latest amusement for arcade games and arcade operators in malls.

Another highlight of the exposition is the demo area where visitors can experience indoor playground for free.

Those who are looking for business opportunities should attend the technical presentations of international experts, as well as amusement operators, Chow added.

LOVE EVERYTHING TOGETHER WITH CURATED HOME’S LATEST COLLECTION

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E know that you are the best person to transform your house into a home you will love. At Curated Home, we offer you beautiful objects in a range of different but complementary styles.

“Simple is Beautiful” builds on minimalism that continues to be a solid design trend for 2019. The lines on the pieces you will find here are sleek and clean. The colors are muted. Lifting everything up above the ordinary are unexpected and unusual details. Find, among many other interesting pieces, the brass finish floor lamp, the planters in the shape of a cactus, the geometric vases and the ceramic table lamp with a luscious curved base.

Add a more intense visual punch to your interiors by layering on the

tones and the textures from our second summer collection. Called “Old World Charm”, the pieces are inspired by the Kingdom of Morocco.

To your subtle base elements, add the intense colors of spices such as mustard, ochre and terra cotta; the bohemian materials of metals and clay; and the intricate patterns inspired by mosaics. You will find these mesmerizing elements in furniture, mirrors, trays, throw pillows and other home bric a brac.

Imagine pieces from these two collections in your home. The subtlety of the first collection will serve as a solid base to the intense punctuations of the second collection.

See for yourself how everything works together so well.

PHILIPPINE AMBASSADOR TO SPAIN PHILIPPE J. LHUILLIER RECEIVES INTERNATIONAL AWARD

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PAIN´S Guadarrama Forum bestowed an award to Philippine Ambassador to Spain Philippe J. Lhuillier in Madrid on April 4, in recognition of the Philippines’s economic ties with Spain and his continued efforts to enhance these links.

The Guadarrama Forum is an annual conference that is considered the most important meeting point for companies in the regions of Madrid, and Castille and

León. The forum is regularly attended by high-level government- and businesssector representatives from both regions.

The Fifth Guadarrama Forum, held on April 4, saw the participation of over 300 people, including Madrid vice minister of economy and the secretary general of the board of education. This year’s edition was organized by the business magazine Castilla y León Económica, and was cosponsored by Bankia (Spain’s fourth-largest bank) and the board and the community of Madrid.

Aside from the Philippines, the other awardees for this year included Brazil and the Czech Republic.

Photo shows Lhuillier (left) while accepting the Castilla y León Económica international prize from José Rolando Álvarez, president of Iberaval.

IOC CRACKS WHIP ON BOXING BODY

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By Graham Dunbar

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AUSANNE, Switzerland—Troubled boxing body International Boxing Association (Aiba) was stripped of Olympic status on Wednesday, and the International Olympic Committee (IOC) will now organize qualifying and final tournaments for the 2020 Tokyo Games.

Aiba had created “very serious reputational, legal and financial risks” for the IOC and its stakeholders, not just the American ones, Olympic inquiry panel Chairman Nenad Lalovic said.

The election of Aiba President Gafur Rakhimov, who is under United States federal sanctions for suspected links to eastern European organized crime, prodded the IOC last year to investigate boxing’s governance, debts and integrity of Olympic bouts.

International Olympic Committee members voted on Wednesday to endorse the executive board’s recommendation last month to suspend Aiba’s Olympic status.

Lausanne-based Aiba has said it is near bankruptcy with debts of about $17 million. It is cut off from income from Tokyo revenues, and the 2019 world championships for men and women in Russia are now devalued without the lure of being Olympic qualifiers.

Aiba has an emergency meeting scheduled for Thursday in Geneva.

Lalovic is expected to represent the IOC and meet Aiba executive committee members aiming to retain a role in the plan for Tokyo.

“I hope the IOC does realize there are many people in Aiba who are respectful, ethical and transparent who can provide their expertise,” Bulgarian boxing official Emilia Grueva said in a statement.

Aiba hoped for a reprieve by Rakhimov leaving his duties to an interim replacement in March, though he could choose to return at any time this year.

“These risks don’t disappear by the mere fact of Mr. Rakhimov ‘stepping aside,’” IOC board member Lalovic said, adding the Uzbek’s “level of influence and control remains uncertain.”

In December 2017, the US Treasury Department noted “Rakhimov has been described as having moved from extortion and car theft to becoming one of Uzbekistan’s leading criminals and an important person involved in the heroin trade.”

The IOC had to avoid the consequences of fixed bouts or suspect results in Tokyo, said Morinari Watanabe, who leads the Olympic panel overseeing the Tokyo boxing competitions.

“It’s not just losing trust in boxing. It’s lost trust in the Olympic Games, it’s lost trust in the IOC,” said Watanabe, the Japanese president of the International Gymnastics Federation.

IOC President Thomas Bach said: “We are all concerned with the refereeing.”

Boxers’ lack of faith in Aiba at each Olympics from 2008 to 2016 was raised by Lalovic, who led a three-member inquiry team.

Those doubts persisted despite Aiba reviews after each Olympics, he told an audience that included former Aiba President CK Wu, an IOC member for 31 years.

Wu oversaw each post-Olympic integrity review. He was ousted

by Aiba officials two years ago amid a deepening financial crisis and protests about his often secretive leadership style.

Qualifying tournaments for Tokyo are intended to be held in four continents from January through March, likely in London, China, Senegal and Argentina. All are recent or future hosts of Olympic boxing competitions. A final global qualifier is expected to be held in Japan.

That should give each boxer at least two chances to qualify, in

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| Friday, June 28, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

The Associated Press

BusinessMirror

FRANCE’S Tony Victor James Yoka (right) fights Britain’s Joe Joyce during a men’s super heavyweight bout at the 2016 Olympics in Rio de Janeiro, Brazil, in August 2016. AP

TIMELINE OF AIBA’S PROBLEMS T HE International Boxing Association (Aiba) has been told it cannot participate in the 2020 Olympics after years of financial chaos and allegations of corrupt judging.

While boxing remains on the program, the International Olympic Committee (IOC) will organize the competition itself.

Here is a timeline of Aiba’s problems inside and outside the ring: 2006—Taiwanese architect CK Wu, an IOC member since 1988, beats then-83-year-old Aiba President Anwar Chowdhry by four votes in a hard-fought contest.

Chowdhry had faced criticism over unusual refereeing decisions and butted heads with the IOC prior to his defeat.

2007—Aiba drops the word “amateur” from its name, becoming simply the International Boxing Association, as Wu looks to push the organization into the professional ranks.

2010—Aiba launches its first pro competition, the World Series of Boxing, with amateur fighters paid salaries to compete for franchises around the world. Despite millions of dollars in Aiba funding and a $10-million loan from Azerbaijani company Benkons, the WSB struggles to gain spectator interest in a crowded market. Money-losing franchises and the Benkons loan soon start to strain Aiba finances.

2012—Women’s boxing debuts at the Olympics, with Nicola Adams of Britain winning the first gold medal. The men’s competitions are plagued by controversial decisions.

One Aiba referee is expelled after an Azerbaijani fighter wins a bout despite falling to the canvas six times, and another referee is suspended after disqualifying an Iranian boxer.

2014—The once strictly amateur Aiba is now a promoter for professionals after launching the Aiba Pro Boxing brand. The events offer Olympic spots but fail to win much of an audience. Aiba quietly drops the scheme in June 2016.

2016—Olympic boxing erupts in controversy in Rio de Janeiro, with Irish fighter Michael Conlan accusing Aiba of corruption after losing a decision to a Russian.

Aiba suspends all referees and judges involved in the Olympic tournament and says some decisions were “not

at the level expected,” but the results stand. Pro boxers fight in the Olympics for the first time after Aiba rushes through rule changes, but none comes close to a medal.

2017—Aiba’s board members rebel against Wu after details emerge of runaway spending and mounting debts.

After a bitter power struggle which briefly causes staff to be locked out of Aiba’s own headquarters, Wu resigns in November. Concerned by the infighting and opaque finances, the IOC stops payments to Aiba, worsening its financial crisis.

2018—Uzbekistani businessman Gafur Rakhimov becomes interim Aiba president in January after Franco Falcinelli steps aside. Vowing to clear Aiba’s debts, he runs for and wins the presidency in November despite repeated IOC warnings. The IOC objects to Rakhimov because he is under sanctions imposed by the United States Treasury over his alleged ties to heroin trafficking. Rakhimov denies any wrongdoing.

2019—Rakhimov steps aside in March, but keeps the right to return later in the year. An IOC inquiry flags Aiba’s large debts, “serious governance issues” and boxers’“lack of confidence” in judges. Aiba Executive Director Tom Virgets warns the federation faces bankruptcy. On June 26, the IOC removes Aiba from any role running boxing at the 2020 Tokyo Olympics. AP

eight weight classes for men and five for women.

Radical changes in how and when Olympic hosts are picked, meanwhile, were voted in on Wednesday as the IOC looks to avoid negative headlines and angering local taxpayers following referendum losses and excessive spending on whiteelephant venues.

Stung by recent public votes in Europe and Canada, the IOC agreed that future bidders could need to win a referendum before entering a race.

“We cannot, I suggest, continue to be damaged as we have in the past,” veteran IOC member John Coates said, presenting reforms already tested in the 2026 Winter Games contest.

On Monday, Milan-Cortina in northern Italy beat Stockholm-Are, which tied Sweden to Latvia’s bobsled track, in a campaign where support from national and city governments was often shaky.

Future Olympic bidders will be required to use existing and temporary venues and infrastructure, while being steered away from costly construction projects.

A new, flexible campaign timetable will end the Olympic Charter rule requiring hosts to be voted on seven years in advance of a Summer or Winter Games. That rule already had to be waived in 2017, allowing Los Angeles to be picked 11 years in advance of the 2028 Summer Games.

There might not be an election at all.

A key part of the new process is creating new Olympic panels— one each for Summer and Winter Games—which will recommend one or more candidates for an election.

“It can come to a point where there is only one candidate being proposed,” IOC President Thomas Bach said at a news conference.

It chimes with Bach’s wish to avoid “too many losers”—a phrase first heard during the 2024 race as it became a double award. Paris got the 2024 Games, while Los Angeles got 2028.

The new panels will be empowered to have “permanent ongoing dialogue” with potential bidders and proactively approach preferred hosts. They will report first to the Bach-chaired executive board, which will pick the members.

Coates said the process targets “developing a significant pipeline” of candidates even beyond the next bidding contest.

The IOC was not being “control freaks” demanding legal guarantees far in advance, said Richard Pound, the longest-serving member.

“Once you make a decision on the host city, millions of people start to make plans based on that and hundreds of millions of dollars are committed to it,” Pound said.

The IOC’s reformed approach to bidding followed Bach’s election in September 2013 and after Russia’s $51-billion spending on venues, infrastructure and budget overruns for the 2014 Sochi Olympics.

In other business on Wednesday, Athens was chosen to host the IOC’s 2021 meeting. That Session, from June 24 to 26, will include a presidential election with Bach currently expected to get a final four-year term unopposed.

Federer No. 2, Nadal No. 3, Serena No. 11 at Wimbledon

ROGER FEDERER and Rafael Nadal are up there but a debate is on about whether the All England Club’s seeding system should be changed. AP

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IMBLEDON, England— Eight-time champion Roger Federer was seeded No. 2 for Wimbledon, one spot ahead of Rafael Nadal, reversing their positions in the Association of Tennis Professionals (ATP) rankings and creating a debate about whether the All England Club’s seeding system should be changed.

Top-ranked Novak Djokovic, the defending champion, was seeded No. 1 on Wednesday at the grass-court Grand Slam tournament, where recent results on the surface are used to help determine seedings. The other majors do not do that.

Nadal told a Spanish TV station that he doesn’t think it makes sense that Wimbledon is the only tournament that uses its own seeding system. Former US Davis Cup captain Patrick McEnroe and former player and Coach Brad Gilbert tweeted that they thought Nadal should have been seeded No. 2.

The ATP’s top 32 men are seeded at Wimbledon, but the order is based on a formula that gives players additional credit

for ranking points earned at tournaments played on grass over the preceding two years. That allowed Federer, who won his 10th title at Halle, Germany, last week, to jump ahead of Nadal, who potentially could have to beat both Djokovic and Federer to win what would be his third championship at Wimbledon.

Nadal is coming off his record 12th title at the French Open, which is played on clay, and he did not enter any sort of tuneup event on grass this year. He rarely does.

While Nadal did reach the Wimbledon final in five consecutive appearances in the tournament from 2006-11, he had not been so successful of late until a run to the semifinals last year. From 2012-17, Nadal never made it past the fourth round at the All England Club, including one exit in the first round and a pair in the second.

There were other examples of shifts from rankings to seedings. Last year’s runner-up, Kevin Anderson, was seeded No. 4, even though he is ranked only No. 8 this week; 2018 semifinalist John Isner is seeded No. 9, ranked No. 12; 2017 runner-up Marin Cilic is seeded No. 13, ranked No. 18.

This year’s women’s seedings at the All England Club strictly follow the WTA rankings, so French Open champion Ash Barty is at No. 1.

Naomi Osaka is No. 2, followed by Karolina Pliskova.

Seven-time Wimbledon champion Serena Williams is seeded 11th, the same place she holds in this week’s rankings. A year ago, early in her return to the tour after having a baby, Williams was ranked just 183rd but was seeded 25th.

She wound up reaching the final before losing to champion Angelique Kerber.

The draw is on Friday and play begins on Monday. AP

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Gilbert left off Tour de France squad

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ARIS—Former world champion Philippe Gilbert has been left off his team’s squad for the Tour de France, a year after crashing out of the three-week race.

The Belgian rider, who fractured his knee after crashing in the Pyrenees last year while descending from the Col de Portet-d’Aspet, is thought to be a poor fit in a team with Julian Alaphilippe and sprinter Elia Viviani.

Gilbert, who rides for the Deceuninck-Quick-Step team, crashed last year on the same descent where Italian rider Fabio Casartelli died during the 1995 Tour. He continued the stage and reached the finish but was later forced him to abandon the race.

The 36-year-old veteran wrote on Twitter: “It’s with

FOR Kevin Durant and Kawhi Leonard, the move is to stay put. AP

great disappointment I have to announce that I won’t be participating in this year’s @LeTour. After my crash and early exit last year I was very motivated to return this year.

It would have been my 10th Tour, but unfortunately I will have to postpone those plans.”

Gilbert, who won a stage in 2011, won the prestigious Paris-Roubaix one-day classic in April.

Alaphilippe, a Frenchman who won the best climber’s polka dot jersey last year, will lead Deceuninck-Quick-Step at the Tour, which starts on July 6 in Brussels. AP

NI XIA LIAN is off to the Tokyo Olympics.

55 AND STILL SMASHING

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INSK, Belarus—A 55-year-old tabletennis player has won a bronze medal at the European Games, 36 years after she was a world champion for China.

Representing Luxembourg, veteran player Ni Xia Lian won 4-2 against another Chinese-born player, Yang Xiaoxin of Monaco, on Wednesday.

The victory also means Ni earned Luxembourg a spot at next year’s Olympics in Tokyo. If she goes, it would be her fifth Games.

The 31-year-old Yang was not born when Ni won world team championship gold for China in 1983.

Ni moved to Luxembourg in the 1990s, running a hotel with her husband. She kept competing, with a five-year break between 2002 and 2007, and set a record in 2017 for the longest table-tennis match at one hour and 33 minutes.

Chinese-born players represent many countries in table tennis, including European Games gold and silver medalists, Fu Yu of Portugal and Han Ying of Germany. AP

TOUGH TO FORECAST T

ORONTO’S Kawhi Leonard and Golden State’s Kevin Durant are both very difficult to figure out. They seem to enjoy giving cryptic answers, a minimum of clues and clearly relish having enigmatic status.

It makes free agency tough to forecast.

Luckily for Toronto and Golden State, the math should be very simple.

Leonard and Durant are the biggest dominoes that will fall sometime after the free-agent window opens on Sunday evening—unless, of course, neither ends up falling elsewhere and decide to stay put for now. And that is what the math says both of them would be wisest to do.

Durant will be offered a $221-

million, five-year contract from Golden State.

That’s one year and $57 million more than any other team can offer. Provided that he won’t be playing next year anyway because of his ruptured Achilles and that there’s no guarantee that the after-surgery version of Durant will remain in the best-player-on-the-planet conversation, it would be less than prudent to leave that much money on the table.

“He’s been everything to us,”Warriors General Manager Bob Myers said earlier this month.

With Leonard, it’s all a bit more complex.

The NBA champion Raptors could offer him anything from $32 million for one year to $190 million for five years, and the reality is that Leonard probably wants something in between.

In the summer of 2021, after Leonard completes his 10th year in the league, he goes from being able to command 30 percent of a salary cap to 35 percent of a salary cap.

That 5 percent is going to be a lot of money.

That’s why, for Leonard, the smarter play in terms of finances is to sign a shorter deal this summer—two years, $68 million or so, maybe with a third year at his option—and cash in for all he will have coming two years from now.

“He’s a confident human being,” Raptors President Masai Ujiri said. “He’s an unbelievable person. He is his own person.... I think we’ve built a trust there.”

Of course, all that is the money aspect of things.

Leonard has already pocketed about $85

million in on-court earnings and the big money is really going to start rolling in now. Durant is up to around $190 million on the court, with probably just as much off the court. They’re both set for life, so money won’t be the sole driving force in their respective decisions.

The basketball stuff still matters. No matter how much Durant and Leonard have in the bank, they cannot buy championship rings.

This is where the ambiguity starts to kick in, although there shouldn’t be much. Even with the Los Angeles Lakers about to get Anthony Davis in a trade, even with the Brooklyn Nets quite possibly about to land Kyrie Irving in free agency, it’s fairly clear that the Raptors and Warriors— this past season’s National Basketball Association

(NBA) finalists—will go into next season with the most realistic championship aspirations.

The Warriors won’t have Durant because of his Achilles injury. They will still have Stephen Curry and, probably, Klay Thompson—provided he re-signs, as is expected. They will still have Steve Kerr calling the shots. They will have deep-pocketed, free-spending owners who won’t want the team’s first season in the new Chase Center to be, by Warriors’ standards, a step backwards after five consecutive NBA Finals appearances.

The Raptors have a chance to go back-to-back, and even though the Eastern Conference is deeper now than it has been in recent years—Milwaukee won 60 games this past season, Philadelphia should be strong again, Boston and Indiana have some work to do but could find themselves right back in the mix—there’s an argument to be made that Leonard’s best path to a third title ring would lead him to stay in Toronto.

For Durant and Leonard, all the talk about New York and Brooklyn and Los Angeles should be just that—talk.

The simplest, and right, move for both is this: Run it back. Stay put. Be the dominoes that don’t fall, and let the rest of the league react to that. AP

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Friday, June 28, 2019

THAI IN COMMAND T

HAILAND’S Kammalas Namuangruk emerged on top of a crowded leaderboard that kept changing names up to the last putt, his run of closing even-par cards at the front preserving a two-under 68 and netting him a one-stroke lead over Michael Bibat and three others halfway through the International Container Terminal Services Inc. (ICTSI) Iloilo Golf Challenge on Thursday in Iloilo.

As first round leader Makoto Iwasaki of Japan turned from awesome (64) to awful (76) at the short but tricky Iloilo Golf and Country Club layout, Namuangruk took command with a four birdie-two bogey effort under drizzle although the lead changed hands a lot of times before the Thai found himself on top at 134 at the end of the topsy-turvy day.

But a slew of others lay just a stroke, two or three behind, guaranteeing a shootout in the last 36 holes of the P3 million tournament wrapping up the four-stage Visayan swing of the circuit put up by ICTSI and organized by Pilipinas Golf Tournaments Inc. “I hit it well and my putting was relatively

good although the greens are difficult,” said Namuangruk, 27, who struggled and finished down at joint 29th in Negros Occidental last week.

“But I have to make two more good rounds to win.”

Bibat shared the lead in one stretch with an eagle on one of the two par-5s on No. 4 and a birdie on the sixth but fumbled with three bogeys to settle for an even par 70. He dropped back to where he started—in joint second at 135, this time with Rene Menor and Spain’s Marcos Pastor, who submitted identical 66s, and Aussie Tim Stewart, who rallied with a 68.

Menor, seeking a follow-up to his surprise Philippine Golf Tour Asia leg playoff win over two foreign rivals at Splendido in 2017, fired a bogeyfree 34-32 round while Pastor, went five-under after 14 holes but missed joining Namuangruk at the helm with a second straight bogey on the tough par-four 15th.

The big-hitting Stewart forced a four-way tie at second, coming in one of the late flights with three birdies in the last six holes at the front, saving a 68 and putting himself in contention again for the second straight time after losing by two to absentee Jobim Carlos last year.

Art Arbole took charge with a solid four-under 30 at the back but faltered with two bogeys against a birdie in the last six holes at the front.

He wound up with a 67 to slip to joint sixth with Reymon Jaraula (66), Albin Engino (67) and Aussie Fidel Concepcion (70).

Juvic Pagunsan, who opened with a so-so 69 on Wednesday, moved up from joint 12th and threatened the leaders by going three-under in the day on backto-back birdies from No. 14. But the fancied Negrense, eyeing a third straight victory after sweeping the Bacolod legs in Binitin and Marapara, bogeyed the par-three 16th and fell to joint 10th at 137 with JR Salahog (68), just three strokes off the Thai.

Elmer Salvador and Rupert Zaragosa also carded a pair of 66s to join Enrico Gallardo (68), Jhonnel Ababa (69), Colombia’s Mateo Gomez (69), Anthony Fernando (71) and Club Filipino de Cebu Invitational winner Guido van der Valk of the Netherlands (71) at 12th at 138.

After a bogey-free 64, Iwasaki found the country’s oldest course not to his liking, hobbling with three bogeys, a double bogey and a triple bogey against two birdies as he groped with that six-over card that dropped him from the top to

HD Spikers in rousing victory

C KAMMALAS NAMUANGRUK surges on top of a crowded leaderboard. BERNARD TESTA

joint 21st at 140 with Orlan Sumcad (68) and Keanu Jahns (70), a shot behind Joenard Rates (70) and Jay Bayron (71), who pooled identical 139s, but now six strokes behind the new leader in the event backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology Inc. “I didn’t hit the ball solid today [yesterday].

My irons were good but my putting was terribly bad,” rued the 30-year-old Hokkaido native, who dropped three strokes on the par-4 No. 2 on a

couple of errant shots and holed out on No. 9 with a three-putt miscue.

Forty players made the cut at 143 with Swede Sebastian Hansson (70), Ramil Bisera (71), Rico Depilo (72), Korean Myung Chal Hwang (72) and Mars Pucay (73) barely making it at joint 36th.

Among the notables who failed to advance were last week’s joint third placer in Negros Occidental Nilo Salahog (71-144), former PGT Asia leg winner Justin Quiban (74-145), Bacolod leg runner-up Rufino Bayron (74-148) and last week’s second placer James Ryan Lam (74-149).

JET SPIKERS FIRM UP SPIKERS’ TURF CAMPAIGN

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PACIFICTOWN Army’s Olena Lymareva-Flink scores against Creamline’s Alyssa Valdez (2) and Aleoscar Blanco (18) during their Premier Volleyball League Season 3 Reinforced Conference match on Wednesday at the Filoil Flying V Centre in San Juan. Creamline won, 16-25, 25-16, 25-22, 25-16. NONOY LACZA

GINEBRA STAKES WIN STREAK VS. PHOENIX B ARANGAY Ginebra begins its hectic twogame gig in three days with an encounter against Phoenix in the Philippine Basketball Association Commissioner’s Cup on Friday at the Smart Araneta Coliseum.

The Gin Kings made short work of the NLEX Road Warriors, 100-85, on Sunday to roll to their second consecutive victory and a climb to fifth spot with a 4-3 win-loss record.

The four-day break gave Barangay Ginebra adequate rest as the Gin Kings plunge into a tough

schedule—first against Phoenix (3-4) at 7 p.m. on Friday and another on Sunday against Alaska (4-4).

“We are looking to different combinations during practice,” said Gin Kings Coach Tim Cone, whose team debuted prolific guard Stanley Pringle in their NLEX game.

Coming off a blockbuster trade with NorthPort, Pringle immediately made an impact with his 16 points, eight rebounds, three assists and two steals.

Pringle’s inclusion to the lineup will provide

IR Force used its power and came out better than Sta. Elena in their fierce duel on the net, pulling off a 25-22, 25-22, 26-28, 29-27 victory to firm up its bid in the Spikers’ Turf Reinforced Conference at the Paco Arena in Manila on Tuesday.

Bryan Bagunas primed up for his upcoming stint with the National team in Thailand Open next week, firing 22 points while Kim Malabunga and Alnakran Abdilla combined for 34 markers as the Jet Spikers overpowered the Ball Hammers, 51-39, in attack points.

The two teams also put on display their blocking prowess with the Jet Spikers coming through with 17, including seven from Malabunga and five from Abdilla, and the Ball Hammers finishing with 13 kill blocks, including eight from Ber Daymil.

Air Force actually yielded 43 points on miscues, 11 more than their rivals, but the Ball Hammers failed to

Ginebra’s other guards relief, especially during the weekend matches.

“We have a tough weekend ahead to prepare for, starting with Phoenix then Alaska. They are always a tough matchup for us,” Cone said.

The Fuel Masters also had their own share of a tight schedule after they beat NorthPort, 97-87, on Wednesday.

Phoenix weaved some magic and received plenty of buckets from Matthew Wright, who scored 28 points half of which coming in the fourth quarter.

Wright also had six assists, five rebounds and two steals as the team continues to miss the services of suspended Calvin Abueva.

Ramon Rafael Bonilla

Go For Gold targets world record in dribbling

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O For Gold Philippines attempts to break a Guinness World Record for the most number of people dribbling simultaneously on July 21 at the Mall of Asia Concert Grounds in Pasay City.

Already a staunch supporter of different sports, Go For Gold took an interesting turn to the record books as it aims to encourage thousands of Filipinos from all walks of life to join the event.

“Being the Southeast Asian Games host this year, we want to be able to encourage a lot of Filipinos to be active in supporting sports and our national athletes,” said Jeremy Go, vice president for marketing of Powerball Marketing & Logistics Corp.

“We believe that this will be a good way to bring buzz and excitement to kick-start our country’s program,” Go told Thursday’s press conference at the SMX Convention Center.

The event is supported by the International Basketball Federation or Fiba, which recently inked a partnership with Go For Gold to rally Filipinos in supporting the Gilas Pilipinas team in the China World Cup in August.

Go said they are eyeing 10,000 participants to be able to erase the current record of 7,556 dribblers held in Gaza Strip, Palestine, in 2010.

Participants can expect a festive atmosphere in the venue, with celebrities adding color to the event.

Go For Gold supports basketball teams San Juan Knights and College of Saint Benilde, as well as national athletes in cycling, triathlon, chess, canoe-kayak, dragonboat, sepak takraw, wrestling and skateboarding.

Ramon Rafael Bonilla

GO For Gold godfather Jeremy Go (right), Viva Entertainment’s Jay Montelibano (left), and singer and rapper John Roa present the jerseys and ball for the world-record attempt. NONIE REYES

completely cash in on those errors with foiled attempts upfront.

The Jet Spikers, thus, hiked their slate to 8-1, staying half-a-game behind unbeaten Cignal HD (8-0), while dealing the Ball Hammers, who surprised the Nationals in four last week, their fourth loss against five wins in the third season of the country’s premier men’s league organized by Sports Vision.

Rebisco-Philippines, meanwhile,

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rebounded from that loss to Sta. Lucia with a resounding 25-20, 25-15, 25-23 victory over lowly Easytrip while PLDT held off Navy, 25-22, 25-18, 29-27, as the Nationals and the Home Fibr Power Hitters remained tied at third with 7-2 marks.

Bagunas showed no signs of slowing down as he put in a 19-point effort for Team Phl which also Marck Espejo added 16 points and skipper Johnvic de Guzman chipped in 13 markers.

IGNAL flaunted its might and dominated PLDT Home Fibr, 25-12, 25-21, 25-15, to gain a share of lead in the Philippine Superliga All-Filipino Conference on Thursday at the Flying V Centre in San Juan City.

Mylene Paat and Rachel Anne Daquis delivered the blows, taking turns in piercing the defense to tow the HD Spikers to their third straight win.

The HD Spikers are now on top of the standings with a 3-0 won-lost card, but that could change depending on the result of the titanic clash between F2 Logistics and Petron in the second match on Thursday.

Paat, a member of the national team for the 30th Southeast Asian Games this November, had 11 kills and three blocks, while the veteran Daquis chipped in 10 kills and an ace for the HD Spikers, who wrapped up the battle in 80 minutes.

“I’m really pleased to see my players step up. I always tell them to be ready and prove that they are capable of rising up to the occasion,” said Cignal Coach Edgar Barroga, who also drew a fiery performance from Filipino-American setter Alohi Robins-Hardy.

Robins-Hardy, who started her campaign with United VC, had 20 excellent sets laced with five kills for Cignal, which dominated the net with 11 blocks.

Barroga said the victory served as a major morale-booster as they march into a colossal match against the Blaze Spikers this Saturday at the Muntinlupa Sports Center.

“Our mettle will surely be tested on Saturday as we go up against Petron,” said Barroga, who is looking forward to challenge Petron Coach Shaq de los Santos to another thrilling chess match at the sidelines. “We will make sure to show up prepared and ready to win against them.”

Grethcel Soltones and Aiko Urdas combined for 21 points for PLDT, which fell to fourth spot with 2-2.

EUROPEAN TEAMS REAP DIVIDENDS ITALY’S Head Coach Milena Bertolini is thrown into the air by members of her team at the end of their round of 16 match where they beat China, 2-0. AP

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| Friday, June 28, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Rob Harris

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The Associated Press

E HAVRE, France—Even the Netherlands forward Lineth Beerensteyn had to check that the number was right.

“Oh my God—seven,” she exclaimed. “That’s a lot.”

Europe sure is dominating this Women’s World Cup. The Netherlands made it a record seven European teams in the quarterfinals by knocking out Japan, which won the tournament in 2011 and reached the final four years ago.

Never before in the previous seven editions had an Asian team missed out on making the last eight. Only the United States’s victory over Spain prevented a clean sweep

by European teams in the round of 16, and the defending champions now have to face host France on Friday.

“Sometimes it kind of feels like a Euros,” the Netherlands forward Vivianne Miedema said. “America is amazing.”

The compliment isn’t being returned by US forward Tobin Heath.

“As a football fan, to me I would want a little bit more diversity at this point,” Heath said. “I find European football is sometimes a little boring and I think that there’s some teams that are so exciting to watch, that you won’t be able to see this kind of different style, which is unfortunate at this stage because I appreciate certain teams that are no longer in the tournament.”

There is a freshness to the field, however.

The Dutch are in the quarterfinals for the first time in only their second appearance to the tournament.

Italy, their opponent on Saturday, is back in the quarterfinals for the first time since the first Fifa

women’s showpiece in 1991.

The round opens with Norway playing England, which finished third in 2015, and wraps up on Saturday night with two-time champion Germany taking on Sweden.

Investment domestically is raising standards for players, cementing Europe’s control of the international game.

“The biggest example is Italy,” Miedema said. “They put a lot of money into Juventus and in a couple of other clubs. You see it directly on the World Cup.” All but one of the Italian players plays at home, with eight out of 23 playing on the Serie A-winning Juventus squad.

“Once the league in your country is really strong then you know your national team is going to become better, as well,” Miedema said. “It’s only going to become bigger.”

But a few clubs have emerged as forces in the women’s game.

As many players on the Netherlands squad play for Ajax—four—as they do for newly crowned English champion Arsenal, including Miedema. While Arsenal was crowned European champion in 2007, Ajax has never conquered the continent.

The appearance of Norway in the World Cup quarterfinals signals a resurgence for the 1995 champions.

The Norwegians reached the semifinals in four of the first five editions of the Women’s World Cup, but were eliminated in the group stage in 2011 and in the round of 16 in 2015.

The majority of the squad still plays for Norwegian clubs, which struggle to make an impact in continental competitions and can’t afford the professional contracts enjoyed by the entire England traveling party.

“When there is money, other leagues can dominate,”

Norway Coach Martin Sjögren said through a translator. “In Scandinavian countries they were really early starting with women’s football—that means we have a history...but bigger nations started to invest. It had to produce results and maybe put women’s football even more on the map.”

Sweden finished third in 1991 and 2011 and lost the 2003 final to Germany.

“We have shown Scandinavian countries can even compete again,” Sjögren said.

On the world stage, maybe. It’s harder on the continent.

Swedish team Umeå was crowned European champions in 2003 and 2004 but the country hasn’t been represented in the final since Djurgården lost in 2005.

Since Arsenal’s triumph in 2007, German and French teams have had a lock on the European trophy. French club Lyon is the team to beat, winning four Champions League titles in a row.

“The investment and output and the value you get for money invested is high in women’s football,” said Nadine Kessler, the former world player of the year who is now head of women’s football at European governing body UEFA. “It can pay off much quicker than in the men’s game.”

England, Germany and France were the only European teams in the quarterfinals four years ago before the US beat Japan in the final.

“There are already four World Cup winners from three different confederations,” said Kessler, a European champion with Germany in 2013. “The efforts over the past few years have allowed Europe to become generally better and more teams involved in the top level of the international game.”

While clubs are realizing the benefits of injecting cash into women’s operations, that can create disparities in Europe.

ARTHUR (from left), Miranda, Filipe Luis and Phlippe Coutinho play with a ball during a training session of the Brazil national team in Porto Alegre, Brazil, on Wednesday. AP

“Sweden has been a top league historically, but now we are seeing something changing and that’s the big men’s clubs coming in to invest,” said Sweden goalkeeper Hedvig Lindahl, who has just left Roman Abramovichowned Chelsea. “Sweden has to be creative to invest in that top level.”

England goalkeeper Karen Bardsley, who grew up in California and now plays for Abu Dhabi-owned Manchester City, has seen the cash flowing into the European game make an impact at this World Cup. “It’s been crying out for exactly what has happened,” Bardsley said in Le Havre, where England plays Norway.

“Going back years it was dominated by a lot of North American teams and teams other than from Europe.

“It’s clear to see the investment in the likes of England, Spain, France, Germany...has paid off. They are attracting top talent like ours has in the Women’s Super League. That has been beneficial for the domestic players in those countries.”

Money isn’t just going into professional contracts but also into coaching and team preparation.

“That has exposed the players to things that they have never been exposed to,” Bardsley said, “and it has kind of upped the bar in terms of performance standards.”

Standards teams outside Europe can reach if they apply for grants from international governing bodies, including Fifa, and implement a strategy like Kessler is doing at UEFA. “You have to ask what’s the most relevant, what do you focus on—building foundations and raising the number of players?” Kessler said. “Or do you really want to focus on the elite end, coaching and player pathways. That’s very individual, very different and that’s the biggest question: where to start and with what priority.”

Fifa opens disciplinary case vs Cameroon

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E HAVRE, France—Fifa opened disciplinary proceedings on Wednesday against Cameroon for players’ conduct during the team’s loss to England in the Women’s World Cup. The team protested VAR decisions in a 3-0 loss to England on Sunday, twice delaying kickoff as they complained. The players looked like they might refuse to continue playing.

The protests began when video reviews on offside decisions allowed Ellen White to send England to a 2-0 lead before halftime and then denied Cameroon the goal that would have brought them within one after the break. Ajara Nchout was sobbing on the sideline as she pleaded for her goal to stand.

Fifa told The Associated Press on Wednesday that its disciplinary committee opened a case against Cameroon over alleged breaches related to team misconduct, offensive behavior and fair play.

The stance of the disciplinary division is in strong contrast to the view of Fatma Samoura, who runs the Fifa administration as the governing body’s secretary-general.

Samoura tweeted that the Cameroon players “inspired many young girls,” with “passionate and talented play on the field that made your fans proud and your country is proud of you.”

But Isha Johansen, president of CAF’s women’s committee, said the match “reflected badly not only on African women’s football but African football on the whole.”

She wants punishment imposed. AP

Brazil looks to avoid another Copa upset

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ORTO ALEGRE, Brazil—Brazil does not have fond memories of Paraguay in the Copa America.

The last two times Brazil met its southern neighbor in the continental competition, the “Seleção” endured demoralizing eliminations. It happened in the quarterfinals in 2011 and 2015, both after penalty shootouts.

Brazil will face Paraguay in the last eight again on Thursday, this time under even more pressure at home.

“It’s a decisive match, we will need to be very strong mentally,” Brazil Coach Tite said on Wednesday. “We can’t make mistakes.”

As for the previous encounters, Brazil will be considered the favorite to advance. Despite struggling in its first two matches, drawing boos from local fans, it ended the group stage with a 5-0 rout of Peru that boosted the team’s confidence for the knockout stage.

“We want to repeat the performance from the game against Peru,” said Philippe Coutinho, one of nine players returning from the squad eliminated by Paraguay in 2015.

“We hope we can improve from that game [against Peru], use that as a reference going forward for the rest of the competition.”

Coutinho converted a penalty in the shootout loss four years ago. In 2011, none of the Brazilian players scored from the spot, including current defender Thiago Silva, one of two returning players from that team, along with Dani Alves.

Paraguay has five players back from the 2015 squad, including Derlis Gonzalez, who converted the deciding penalty in the shootout back then.

Paraguay barely survived the group stage this year, advancing with only two points as one of the best third-

place finishers from the three sections.

But the team led by Argentine Coach Eduardo Berizzo played better than the results showed, letting victory escape against Argentina after a missed penalty by Gonzalez when the game was 1-1.

Paraguay depended on other teams to advance, and made it after Ecuador and Japan drew their final group match.

The Paraguayans have been resilient in the Copa America in recent years. Despite having won only one of its last 18 matches in the tournament, the team managed to finish runner-up in 2011 and reached the semifinals in 2015, taking advantage of shootout wins.

Paraguay and Brazil failed to make it out of the group stage in the 2016 Copa. A two-time champion, Paraguay lost the 2011 final to Uruguay. Brazil is seeking a ninth continental title, and first since 2007.

Paraguay’s solid defensive system will be tested by a Brazilian attack which will likely include Gabriel Jesus and Everton, the two forwards who made it to the starting lineup for the first time against Peru and revitalized the side. David Neres and Richarlison will likely stay on the bench again.

Brazil will be without defensive midfielder Casemiro because of suspension, and Fernandinho remains out because of a right-knee injury. Allan will take over from Casemiro to play alongside Arthur and Coutinho. Roberto Firmino stays up front.

Casemiro was also banned when Brazil was eliminated

by Belgium in the quarterfinals of last year’s World Cup. Brazil’s only other loss in 39 matches under Tite also came without Casemiro in the team, a 1-0 defeat in a friendly against Argentina two years ago. AP

Merciful and living God

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EAR God, You have fashioned us in Your own image and likeness. With joy we pray: Guide us to live by Your truth, oh God. Help us to be inclusive in our love and activities. Inspire and bless the work of Catholic Charities and other service organizations. Advance dialogue about bullying, initiation of fraternities of some organizations and sensitize us to children and youth who suffer low self-esteem. May God bless us and hold us in love, through Jesus our brother, by the power of the Holy Spirit. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

SOMETHING LIKE LIFE: ARTS AND CULTURE COME TO QC D3

Friday, June 28, 2019

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TOM HOLLAND, FAR FROM OVER PHOTOGRAPHED BY MICHAEL MULLER

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OLLOWING the events of Avengers: Endgame, Spider-Man must step up to take on new threats in a world that has changed forever.

Directed by Jon Watts, with a screenplay

by Chris McKenna and Erik Sommers, based on the Marvel Comic book by Stan Lee and Steve Ditko, SpiderMan: Far from Home stars Tom Holland, returning as the title hero. He is joined in the cast by Samuel L. Jackson, Zendaya, Cobie Smulders, Jon Favreau, JB Smoove, Jacob Batalon, Martin Starr with Marisa Tomei and Jake Gyllenhaal.

Returning to the super heroic role he has so effortlessly made his own, Tom Holland was determined that beneath the fancy suit, Peter Parker was still going to be a normal teenager.

Embarking on the eagerly anticipated second stand-alone adventure, Sony Pictures and Marvel were equally determined to double down on everything that made Spider-Man: Homecoming such a refreshing take on the Marvel Cinematic Universe (known to most as the “MCU”). Once again directed

by Jon Watts, Spider-Man: Far from Home remains equal parts action, epic and comedy.

“While there are minor things where you’ll see Peter Parker look older and more grown up, he is still a 16-year-old,” smiles Holland.

Shooting through the summer of 2018 at London’s Leavesden Studios and locations across Europe, SpiderMan: Far from Home sees Peter zipping from Venice to Prague to London on a school trip, only for his holiday to be interrupted by the business of saving the world once more. Soon after he touches down in Europe, a series of devastating attacks by giant elemental creatures are suddenly on his itinerary.

Holland has enjoyed the irony that the sequel was based in his hometown. “The first one was Spider-Man:

Homecoming, and I shot it thousands of miles away,” he laughs, “and this one is called Spider-Man: Far from Home and I’m 40 minutes from home.”

As well as trying to get a bit of culture and further his friendship with the elusive MJ (Zendaya), Peter must team up with Nick Fury (Samuel L. Jackson) and the enigmatic Mysterio (Jake Gyllenhaal) to discover what lies behind the attacks in a world forever changed after the events of Avengers: Endgame.

In this respect, Holland said that Spider-Man: Far from Home is a more ambitious project. Where Spider-Man had been “flying under the radar” in the first movie, which was chiefly set in New York, his second solo outing takes Spider-Man into a whole new context. The film shot scenes in London, Venice, Prague, Berlin and the Netherlands.

“The action is bigger than the first one for sure,” he added. “The action in the first film we were able to keep quite contained. I don’t feel it was such a worldwide event. This one, with Spider-Man unable to keep these events a secret, is far more global. So the spotlight really is on Spider-Man.” Which is something Holland can readily appreciate. In a matter of only five years, he has gained a global following. The London-born actor first came to attention taking the lead role in a West End production of Billy Elliot—two years of dance training that would serve as a good foundation for superhero acrobatics—before winning rave reviews for his performance alongside Naomi Watts and Ewan McGregor in the 2012 drama The Impossible. Then he was cast as Spider-Man. Having established himself as Spider-Man— counting Captain America: Civil War, Avengers: In�inity War and Avengers: Endgame among his recent exploits in the role—Holland has gained a reputation for doing

his own stunts.

“I don’t do everything,” he insists. “There are some things that I just can’t do. I am also very happy for my double to do it if he can do it better, then he should do it for the sake of the movie.”

Still, Executive Producer Eric Carroll mentions that Holland would rehearse key moves for “weeks” before production, a process that was as much about getting back into character as learning the elaborate choreography for the new film. Pushing yourself to the limit pays dividends with what we see on-screen.

Watts was determined that however out of this world the story might appear on paper, it should be as realistic as possible on screen. And the Elemental Creatures, a set of mythological creatures come to life, present Spider-Man with a foe on a scale he has never seen before.

“It’s interesting, because when Jon first pitched me the idea, I thought, ‘Wow, fighting big, monstrous elemental creatures—that is a big jump from the Vulture,’” says Holland, referring to Michael Keaton’s villain in the first film. “But when you see the effects and what they are planning to do with these monsters, it really is quite a breathtaking feat. Peter Parker has the same thought as I had when I found out it was monsters—he really doesn’t understand what is going on, and how Spidey can defeat them in this post Avengers: Endgame world.”

It is not until later, when Peter teams up with the no-nonsense Nick Fury and Maria Hill (Cobie Smulders) and a new superhero in the shape of Mysterio, that they begin to piece together what is going on.

“The Elemental Creatures are definitely an exciting version of the villain,” said Holland, admitting this new film will require the high-flying hero to use his

head more than he has ever done before.

With a new Spider-Man movie comes a new Spider-Man look. Alongside his iconic red and blue suit, Spider-Man will also be equipped with what Holland calls a “stealth suit.” Jet-black with “flip-up” spider-eye goggles, it offers a completely different approach to the character and a few unscheduled nocturnal excursions.

“It looks so badass,” said Holland. “It’s really cool because it is such a different avenue to take with a character like Spider-Man. He wears red and blue, and that’s kind of it. For us to take him down this different path is definitely something audiences will be very excited about.”

As well as new foes, suits, stunts and locations, Spider-Man: Far from Home has brought the chance to go toe-to-toe with two of Holland’s real-life heroes in Gyllenhaal and Jackson. “I can’t believe how lucky I am,” beams Holland. “I have these meetings with my agent every year where we sit down and go through a list of the actors I would like to work with and they were both already on that list.”

He has been a fan of Jackson since he first saw Pulp Fiction. Sharing scenes with the star, now featuring in his tenth MCU movie, has been pretty intimidating, but in a good way. “It will be interesting to see on the screen, because obviously Peter is so funny and so happy to be around people and Nick Fury is so scary— kind of like Robert Downey Jr. just without the sass.

Let’s just say, it’s been a fun ride.”

“He’s amazing,” said Holland of Gyllenhaal. “Every actor I have ever worked with has a switch. When they say action you can tell that they are acting. But Jake doesn’t have that. He’s seamless in and out of

CONTINUED ON D4

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Friday, June 28, 2019

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Saké rising TOP photo, from left: Hiroaki Shibahara, Japanese consultant, Philippine Wine Merchants; Raymond Joseph, director of Sales and Marketing, Philippine Wine Merchants; Executive Japanese Chef Wataru Hikawa and Satoko ShiozakiInagiku restaurant manager.

Bottom: Kozaemon Junmai Daiginjo (left) and Kosaemon Junmai Banshu Yamada Nishiki 65 percent.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kellie Pickler, 32; John Cusack, 52; Kathy Bates, 70; Mel Brooks, 92.

HAPPY BIRTHDAY: You’re in a better position than you realize. Face limitations head-on and calculate the best way to turn negative situations into positives.

Compassion and understanding will help you convince others to support your actions and turn this year into one of progress instead of repetition. Express your desires and be willing to compromise in order to get what you want. Your lucky numbers are 2, 9, 14, 23, 33, 45, 48.

FERMENTATION CECILE MAURICIO

cecile.mauricio@gmail.com

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ARIES (March 21-April 19): Walk away from conflict. Concentrate on personal goals and how best to channel your energy to blow off steam. Do your own thing, live within your means and do whatever it takes to help yourself. ★★

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AVIGATING the world of saké can be as fascinating as it can be overwhelming.

The terminology alone, coupled with the language barrier can be intimidating. And then there are the labels that only one familiar with the Japanese writing system can decipher.

There are books, subscription magazines, courses and even mobile-phone applications for both the serious student and the enthusiast. Thankfully there are also the get-togethers where one learns both from the tutored tasting and from the helpful tips of seasoned drinkers. There was such an opportunity at the recent dinner hosted by saké enthusiast Raymond Joseph, whose family owns Philippine Wine Merchants, the local importer and distributor of saké labels Gekkeikan, Hakkaisan, Kozaemon, Shinomine and Tatsuriki. That evening at the Makati ShangriLa’s Inagiku, it was the turn of Kozaemon to shine.

The Nakashima Sake Brewing Company, founded in 1702, makes Kozaemon in its small brewery in the mountainous Gifu region in Central Japan. Did you know that Kozaemon has three employees? Raymond had to point out that Kozaemon is a jizake, a boutique brewery focusing on a line of saké, mostly junmaishu or pure saké—saké made with no addition of distilled alcohol. We were to experience Kozaemon’s Junmai Daiginjo, Junmai Ginjo Miyama Nishiki, Junmai Ginjo Dewasansan and Junmai Banshu Yamada Nishiki— paired with Chef Wataru Hikawa’s menu.

But first, Raymond led us through the definition of terms. Miyama nishiki, yamada nishiki and dewasansan are rice varieties used only for making saké. Ginjo and daiginjo are saké categories and are also terms that denote premium saké. To make the grade for ginjo, 40 percent of the outer portion of the rice grain must be milled away, so that no more than 60 percent of the original size of the grain remains.

For daiginjo, at least 50 percent of the rice grain must remain, with some daiginjo polished down to 35 percent, explained Raymond. And then Raymond let each saké do the rest of the talking.

The Kozaemon Junmai Daiginjo was fragrant and delicate, with floral notes underneath lovely melon and pear aromas. Served cold, this was paired with the equally delicate sweet shrimp, isaki and toro sashimi. Made with two kinds or rice—yamada nishiki for making the malt and aiyama as the brewing rice—the Kozaemon Junmai Daiginjo had a richer fragrance and was finer and more elegant than

b

TAURUS (April 20-May 20): Get moving, and don’t stop until you reach your destination. Short trips, meetings and sorting out differences you have with a colleague, friend or relative are favored. Don’t make changes without research, preparation and the approval of those affected by your decision. ★★★★★

c

GEMINI (May 21-June 20): Do what works best for you, and stop worrying about what others think. Someone who tries to intervene probably has ulterior motives. Act on your own behalf, and don’t stop until you are happy with the results you get. ★★★

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CANCER (June 21-July 22): Don’t settle for less when you know you can have so much more. Set the parameters to suit your needs, and put your skills to good use. What you accomplish will be recognized and appreciated by onlookers.

Rewards are apparent. ★★★

e

LEO (July 23-Aug. 22): Keep a close watch on the way others handle situations that can affect you. Getting your responsibilities out of the way before someone complains is encouraged. Don’t celebrate a promise before it’s honored. ★★★

the Kozaemon Junmai Ginjo Miyama Nishiki. It was the Kozaemon Junmai Ginjo Dewasansan that was paired with Chef Wataru’s lobster tempura, its not quite dry profile mirroring the subtle sweetness of lobster meat. The Kozaemon Junmai Banshu Yamada Nishiki was served lukewarm, its toasty, savory notes perfect for the richness of grilled wagyu.

Here are the top takeaways from that sakéwashed evening: 1. EXPIRATION DATE: When refrigerated and unopened, drink saké within one year from the production date. The month and the year of bottling are indicated on the label. It is best to drink saké immediately after opening. But although an unfinished bottle of saké can keep for more than a week when kept in the refrigerator, it is still safer to finish the bottle within a few days. Store saké away from heat and direct sunlight.

2. RICE POLISHING RATIO: The polishing ratio, indicated in percentage on the saké label, tells how much of the rice grain has been milled away. For example, a polishing ratio, or seimaibuai, of 60

percent indicates that 40 percent of the outer portion of the rice has been milled away and, therefore, 60 percent is what remains of the rice grain. The smaller the rice is milled, the more premium the saké.

Highly polished rice also translates to richer, more aromatic saké.

3. SWEET OR DRY: The sweetness or dryness of saké, known as the Saké Meter Value, is also indicated as a number on the label. The higher the number, the drier the saké. A SMV of -1, like in the Kozaemon Junmai Ginjo Omachi 55, indicates more perceptible sweetness, whereas the +11 SMV of the Kozaemon 65-percent Junmai Banshu Yamadanishiki means the saké is dry.

Dinner came to a close with the Kozaemon Junmai Umeshu, a gently sweet plum liqueur and a superb black sesame ice cream. Raymond talked about his plan for saké tours and a saké club. How about saké courses in Manila? Or exploring the possibilities of saké with the local cuisine? At that moment, in that small gathering, there was no doubting the rising interest in saké. ■

g

LIBRA (Sept. 23-Oct. 22): Stick to the people you know and trust. Someone close to you will give you a hard time. Know when to walk away; you’ll avoid a dispute that would lead to additional responsibilities. ★★

h

SCORPIO (Oct. 23-Nov. 21): You’ve got plenty to work with if you stay focused on what you are trying to accomplish. Use your intuitive intelligence to help you make the best choice. Don’t let a personal relationship interfere with your ability to get ahead professionally. ★★★★

i

SAGITTARIUS (Nov. 22-Dec. 21): How you handle others will make a difference in how much you accomplish. Work with, instead of against, the majority, and when the time is right, you’ll stand a better chance of implementing your plans. ★★★

j

CAPRICORN (Dec. 22-Jan. 19): A window of opportunity is apparent. Take on more responsibilities and give your best effort when working alongside others. You will be rewarded in an unusual and profitable manner. ★★★

Japan confers decoration on Ma. Elena Laurel Loinaz THE government of Japan conferred on May 21 The Order of the Rising Sun, Gold and Silver Rays, on Ma. Elena Laurel Loinaz in recognition of her contribution to promoting mutual understanding between Japan and the Philippines.

Laurel Loinaz served as president of the Philippines-Japan Ladies Association for 13 years.

Under her stewardship, the PJLA undertook various educational and sociocultural programs to encourage exchanges between Filipinos and the Japanese. By making the activities of the association more open, she invigorated them and expanded the participation of PJLA members and nonmembers.

She has also played a vital role in the Philippines-

f

VIRGO (Aug. 23-Sept. 22): By recognizing and giving credit to those who have worked hard, you will win support and the help you need to accomplish goals that require assistance. Network, collaborate and develop partnerships. ★★★★★

k

Japan Friendship Foundation in her capacity as administrator, among other administrative positions, for many years. She has worked to support its affiliate organizations including the Philippines-Japan Society, the Philippines-Japan Economic Cooperation Committee, the Philippine Institute of Japanese Language and Culture, the Nihongo Center Foundation and the Philippine Federation of Japan Alumni.

The Embassy of Japan extends its sincere congratulations to Ms. Laurel Loinaz and her family on this conferment, and hopes that she will continue to play an active role in further strengthening close relations between the two countries.

AQUARIUS (Jan. 20-Feb. 18): Look at the possibilities, and be willing to work with someone you love and respect in order to turn your plans into a reality. Love and romance should be priorities. ★★★

l

PISCES (Feb. 19-March 20): Explore the possibilities. Trying something new and different or delving into the unknown or unfamiliar will spark your imagination and help you bring about change that you find mentally stimulating.

Resurrect an old idea and give it a new twist. ★★★★ BIRTHDAY BABY: You are spontaneous, questioning and insightful.

You are determined and opportunistic.

‘making the grade’ BY STELLA ZAWISTOWSKI The Universal Crossword/Edited by David Steinberg

ACROSS 1 Right on the nose 6 Not much at all 11 Show with the 2002 episode Abra Cadaver 14 Malaga mister 15 Chocolaty Starbucks order 16 Rooster’s mate 17 Top-quality integer, per the USDA? 19 Uncultured sort 20 They’ve split 21 Unexplainably crummy feeling 23 Soup at a sushi bar 26 Like a young lass 28 Huawei and Sprint, for short 29 Does better than 31 Compete 33 Folder of e-mails you wrote 34 Very, musically 35 Deny 37 Common Wheel of Fortune buy 38 Quick way to turn 40 Bauxite, for aluminum 43 Bank postings, for short 45 Son on The Jetsons

47 ABA member, probably 49 Sprinted 50 Handset’s place 51 Mark without a bookmark 53 However, in poems 55 Draws on 56 Polite but not too friendly 58 68-Across ender 60 “Woman Power” singer Yoko 61 Average cooking fat, per the USDA? 66 More, musically 67 About to run out of 68 It’s often said before meals 69 “Uh-huh!”

70 Young’s accounting partner 71 Comic Wanda DOWN 1 Paranormal “gift”: Abbr.

2 Gen-___ 3 Singer DiFranco 4 Leave the closet?

5 Dino that hates push-ups, in memes 6 Tickle pink 7 May VIP 8 SALT treaty topic

9 Mr. T’s squad 10 Guitar Town singer Steve 11 Very good vocabulary, per the USDA? 12 Vivaldi quartet member?

13 Swarm over 18 Part of CNN 22 On top of that 23 NYC museum with “Christina’s World” 24 Part of, as a plot 25 Pretty good organization, per the USDA? 27 Plain to see 30 Worthy of a D 32 Cow-horned goddess 35 Smartphone plan component 36 Swerve suddenly 39 Storyteller 41 Auditioner’s goal 42 Has a look at 44 Like ombre hair 46 Hamper contents 47 Madison Ave. text 48 $2 Canadian coin, in slang

50 52 54 57 59 62 63 64 65

Time out?

Market path “I wish I ___!”

Easter egg hunt locale Rowing machines, to a CrossFitter Unfavorable responses Flooring wood option Hail, essentially ___ Girls (Gene Kelly film)

Solution to yesterday’s puzzle:

Relationships BusinessMirror

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Friday, June 28, 2019

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KAYLA RIVERA as Carole King and Nick Varrichio as her partnerlyricist and first husband Gerry Goffin, in Atlantis Theatrical Entertainment Group’s production of Beautiful: The Carole King Musical.

Popular messaging app shows support to LGBTQ+ community VIBER launches special limited-edition sticker pack to help raise funds for the It Gets Better Project.

Every year, June is when the LGBTQ+ community and their supporters commemorate their decades-long fight for love and equality. This year’s Pride is extra special—it’s the 50th anniversary of the Stonewall riots, a series of protests in New York City that signaled the start of the modern LGBTQ+ rights movement. 2019 is a great time to look back at how far we’ve come and shed more light on the work that still needs to be done.

As a messaging app that understands the value of worry-free communication, Viber has been a safe space that empowers people to be their authentic selves, and to own their identity. That’s why Viber is helping raise funds for the It Gets Better Project, a nonprofit organization that helps empower and connect LGBTQ+ youth around the globe. First launched in 2010 by gay-rights activists, It Gets Better aimed to curtail the alarming number of suicides among LGBTQ+ youth, many of whom were bullied just for expressing themselves. Since then, it has become a ray of light in over 20 countries, reminding people that life will eventually get better for the community.

Viber has partnered with It Gets Better because it believes that everyone deserves to be who they are in a secure environment. The fight for equality has as much to do with creating these environments as it does with celebrating identity. It Gets Better reminds people that despite the oppression faced by the LGBTQ+ community, the platforms where they feel loved and unthreatened are growing by the day, and that they are never alone in their fight to equality.

To support this cause, you can add Viber’s rainbow-hued sticker pack Pride for All to your collection for just P98.82.

Featuring catchy queer slogans, fun illustrations, and, of course, some magical unicorns, Viber will match each download for up to $5,000, with 100 percent of the proceeds going to the It Gets Better Project.

This isn’t just a way to show your pride— it’s a way to directly support the cause. These special stickers will also be handed out as temporary tattoos at the It Gets Better Youth event on June 28 in New York—the exact date and location of the Stonewall riots half a century ago.

This special limited-edition sticker pack is only available until June 30.

F1 HOTEL Manila General Manager Cindy Brual along with the department heads

F1 HOTEL MANILA’S COMMUNITY ENGAGEMENT PROGRAM A GOOD deed goes a long way. With our foot in the door, a community is made better when these dots of caring people connected together become a line of compassion.

With the goal of promoting social awareness and giving back to the community, F1 Hotel Manila (www. f1hotelmanila.com) held the #F1Cares: Community Engagement Programme once again at Grace Home for the Elderly, or Golden Reception and Action Center for the Elderly and other Special Cases (formerly Golden Acres Home for the Elderly), which is under the management of the Department of Social Welfare and Development.

The activity was held on June 1, headed by F1 Hotel Manila General Manager Cindy Brual along with the hotel’s department heads to show gratitude and appreciation to the previous generation who played a big part in cultivating and preserving our treasured cultural traditions.

Arts and culture come to QC SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

I

WAS fortunate to have enjoyed a steady diet of plays, musicals and ballets when I was growing up in the 1970s and 1980s, for which I am grateful.

Back then, the arts and cultural scene mainly revolved around Pasay, where the Cultural Center of the Philippines, Folk Arts Theater, the Philippine International Convention Center were located; or in Manila, at the Manila Metropolitan Theater or the Rajah Sulayman Theater in Intramuros. Once in a while, there would be ballet recitals at the Meralco Theater, whose strikingly stylish, accordion-like façade fascinated me as a youngster.

Praise be that traffic jams were close to nonexistent then, so the travel time for us, a family based in Quezon City, was just 30 minutes, or on the rare occasion 45 minutes to the bay area. (But, no, traveling from Cubao to Makati then never took just five minutes, even through a less crowded Edsa.

Anyone who claims as this being possible is living in a fantasy world, and has never lived in Metro Manila.)

Over the years, going to the CCP complex or even at the Mall of Asia Arena, where sports games or concerts are held, have become a pain due to the congestion of our main highways. I remember leaving the house three hours before the 8 pm show time of Madonna with my late friend Tito Mon because he didn’t want us to get stuck in traffic.

So the New Frontier Theater in the Araneta-Cubao complex is certainly a welcome addition to spaces for cultural events in the Metro. Recently, it was the venue of the Moscow Ballet “La Classique” production of Swan Lake, featuring Oksana Bondareva (Odette/

Odile) and Alexander Volchov (Prince Siegfried), both of the Bolshoi Ballet. (I later found out that Nina Kaptsova, who was supposed to play the Swan Princess, did not make it to Manila due to an injury, and the role was shared by Bondareva and another Bolshoi star, Anastasia Goryacheva.)

Bondareva’s performance was captivating, as she executed swan-like fluttering moves in lyrical precision, despite Volchov’s rather tepid display of what should’ve been a prince crazy in love with a woman who is a swan by day. (Telenovelas cannot hold a candle to the dramatic storylines in ballets!)

To make up for Volchov’s rather unenthusiastic performance—maybe due to an injury?—were the hilarious court jester essayed by Sergey Kotov, whose leaps were breathtaking, and the evil wizard Rothbart, played by Kirill Popov, who added the mystery and drama to the story.

The iconic music, composed by Peter Ilyich Tchaikovsky, was performed by the 35-piece Russian Symphony Orchestra conducted by Maestro Yaroslav Tkalenko. Unfortunately, it was a bit difficult to watch the ballet if one were seated close to the stage as we were, because the theater has no orchestra pit. So I had to move to an empty seat as the tall conductor was blocking my view. (Perhaps next time, the orchestra could be moved to one side of the stage, instead of being right in front to allow guests to view performances better.)

It was unfortunate there were not too many people in the audience, either from the lack of interest or just due to poor publicity. As my friend Miggy pointed out, it was a waste because the tickets were quite reasonable: even at P10,000, which was the most expensive, this was still cheaper than riding a plane and going to Russia to get a glimpse of these talented dancers in Moscow. The performances were only over seven days, so by the time anyone would be excited and interested to watch the ballet after reading rave reviews from their friends on Facebook, there were no more tickets being sold, or the run was over.

But yay to more artistic performances at New Frontier please! The space is just right for mediumsized events, and there are so many stalls in their very

clean restroom that a 10-minute intermission would be enough to accommodate all the women in the audience doing their business.

■■■ I WAS also fortunate to have seen Beautiful: The Carole King Musical, this time at the Meralco Theater, which is also quite accessible from my neck of the woods— another whoop! whoop! to that.

Produced by Atlantis Theatrical Entertainment Group with direction by Bobby Garcia, the musical traces the beginnings of King’s career from being just one of the so-called Brill Building composers to a successful solo act.

The story itself was a bit dull—I actually dozed off for a few minutes—but oh the songs! If it’s outstanding, chart-busting, and meaningful music you are after, this is the one you should watch.

Because I have only heard of King’s songs she herself renders in Tapestry, probably her best-selling album of all time, as well as a disc of her concert at Carnegie Hall, I was quite unaware that many of these were popularized by an older set of singers and musicians in the 1950s and 1960s. The Drifters (“Some Kind of Wonderful”) and The Shirelles (“Will You Love Me Tomorrow”) were among those groups, which made King’s songs top music charts.

The role of King is essayed by Kayla Rivera, while her partner-lyricist and first husband Gerry Goffin is played by Nick Varrichio. Not enough chemistry I thought, and overshadowed by the more memorable performances of George Schulze and Mikkie Bradshaw-Volante (wow! the best singer in the lot!), who play another thriving songwriting duo of the day, Barry Mann and Cynthia Weil.

One leaves the theater humming the tunes and in a good mood, and the next few days found me listening to King’s albums over and over again.

The musical runs until July 7 and ticket holders may claim a complimentary “A Natural Woman” limited-edition cocktail, when they dine at 22 Prime within the show’s run.

This is part of Discovery Suites’ tribute to King’s hit songs, and also features delectable “You’ve Got a Friend” for sharing platters. ■

What your ability to engage with stories says about your real-life relationships THE best TV shows and films don’t simply distract from the drudgery of everyday life. They’re places to vicariously get to know different people, and learn from their relationships and experiences. Media scholars like ourselves have a term for how stories can effect us in these ways—“boundary expansion”—and every viewer experiences some level of this. But some seem more drawn to these fictional characters and their fictional worlds than others.

In a recent study, we wanted to learn more about these types of people. Why do some become absorbed in the tumultuous relationships playing out before their eyes on the screen—holding their breath during every tense interaction—while others seem to have a tougher time connecting with the characters and the drama?

Interestingly, we found that your attachment style—or your ability to form close relationships in real life—can play a big role.

WHY SOME STRUGGLE TO FORM CLOSE RELATIONSHIPS ACCORDING to attachment theory, your experiences with caregivers in childhood tend to influence how you relate to romantic partners later in life. If a caregiver is appropriately nurturing without being too overprotective, you’ll develop secure attachments as an adult.

But many who grow up with unreliable caregivers will go on to develop insecure attachments in adulthood.

Psychologists have parsed insecure attachment styles into

three types.

■ Those who constantly worry about the security of their relationships have an anxious attachment style.

■ Others steer clear of intimacy altogether, which is an avoidant attachment style.

■ Then there are those who experience severe anxiety about close relationships and cope with their anxiety through avoidance. This is often called a fearful-avoidant attachment style, and these individuals still long for intimacy, but will often sabotage their relationships.

AN IMAGINARY REFUGE WE suspected that, in lieu of forming fulfilling real-life relationships, people with insecure attachment patterns might find refuge in the fictional worlds of television and film.

In the study, we administered a survey to 1,039 American adults. Some of the questions assessed their attachment anxiety (“I often worry that my partner doesn’t care as much about me as I do about them”) and avoidant tendencies (“I feel myself pulling away when partners get too close”).

We also looked at their proclivity to engage in boundary expansion, asking them to respond to statements like “When watching television and film, I experience what it’s like to meet people I wouldn’t otherwise meet.”

We found a consistent pattern. Those who possessed anxiety about their relationships could more easily engage with stories and were more likely to form imagined

relationships with characters. They were better able to vicariously pursue unmet needs through the stories, were more likely to reflect on events from stories and were more likely to report that they had learned something about the real world from watching these stories.

However, those who expressed avoidant tendencies seemed unable to engage with and reflect on stories on TV or in movies in the same way. It’s almost as if they shy away from feeling anything, emotionally, from what they watch— much in the same way they avoid intimacy in real life.

The most interesting results were for those who exhibited both anxious and avoidant attachment patterns. These people seemed to have the best ability to engage with the stories and feel something toward the characters.

We suspect this may be due to the fact that these fictional stories act as a safe space—a place to circumvent their anxiety without succumbing to their avoidant tendencies.

After all, they must know, deep down, that none of it is real: there aren’t any demands for closeness being made and there’s no relationship to sabotage.

Our study shows that fictional stories can act as a refuge and create opportunities for personal growth.

We’re not saying that watching more television or movies will automatically improve your life or your relationships. But there’s something certainly to be said about the power stories can wield—and their ability to help those grappling with reallife attachment issues. AP

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Show BusinessMirror

Friday, June 28, 2019

www.businessmirror.com.ph

Stand up and laugh GAB FAB JET VALLE

@jetvalle

DISCO GLAM BRINGS THE BEST OF DANCE FLOOR RHYTHMS

RESORTS World Manila (RWM, www.rwmanila.com) brings all the glitz and glamour of the disco era back to the present in its new variety show Disco Glam at the Grand Bar stage every Tuesday, Thursday and Sunday starting at 9 pm.

Baby boomers will always remember the golden age of disco and how it took the world by storm during the 1970s.

Broadway’s legendary Studio 54 helped bring the revolution to the forefront of the entertainment scene in its heyday, and soon every music lover had been infected by the disco vibe.

Party to the best hits of the decade with the best of RWM’s house performers headlined by award-winning theater actress Sheila Valderrama-Martinez, together with soul belter and The Voice Philippines finalist Radha Cuadrado.

Also bringing the best of disco to the dance floor for Disco Glam are crossover all-male trio Primo, pop-jazz favorites the Singing Sensations, and the world-class performers from Europe Acro Salsa, Moon Duo and Dance Royalty for a totally one-of-a-kind variety show.

Witness a collective that will surely bring you back to the golden age of disco at the plush Grand Bar and Lounge.

Reminisce with the best songs of the decade as popularized

by Diana Ross and the Supremes, ABBA, Bee Gees, Village People; Earth, Wind & Fire, and more.

Disco Glam is open to patrons 21 years old and above.

The Grand Bar is at the ground floor of the RWM Grand Wing.

GOODING DUE IN COURT AS LAWYER SEEKS GROPING CASE DISMISSAL

NEW YORK—Cuba Gooding Jr. is due in court as his lawyer seeks the dismissal of charges that the actor grabbed a woman’s breast without consent at a New York City bar.

A hearing for Gooding is scheduled for Wednesday morning in Manhattan. It’s his first court appearance since his June 13 arrest and arraignment.

Gooding’s lawyer argued in court papers this week that security video from the rooftop bar near Times Square contradicts the woman allegations and that witnesses say no crime occurred.

Heller is also questioning the accuser’s credibility, saying her blog posts are indicative of a “troubled mentality.”

Gooding has pleaded not guilty to forcible touching and sexual-abuse charges. He is free on his own recognizance.

A conviction could put him behind bars for up to a year. AP

F

OR 33 years now, UP Samaskom has been staging Live AIDS. Dubbed as the longestrunning live comedy musical show, Live AIDS has been a must-watch show because of its tongue-in-cheek and campy sketches. It has also been a breeding ground of performers, such as Tuesday Vargas, RS Francisco, Kaladkaren and many more.

This year, the show’s theme is “G na G Sa 33.” “G,” of course, is Gen-Z slang for “game” meaning you are game for anything. But in the case for this year’s installment of Live AIDS, G might as well stand for “great time.” Because that is definitely what you’ll be experiencing in the three hours that you will be plastered in your seat.

What makes Live AIDS work is that it takes a swipe at almost everything. From the performers’ fellow UP students (“Takbo sila ng takbong nakahubad, mga jutay naman!”) to Maria Ressa (“Let’s face it, you’re not naman that pretty”). Their jokes remain razor-sharp and audacious.

But the best bits, of course, are the jokes laced with political undertones, which is the specialty of the house for 33 years. This edition has parodies of Sara Duterte named Inday Zarah, who discussed her “May tricks” on how she headed the landslide victory in the recent midterm elections. There is also a sketch on squatters and how they just want to find a job and make a living, and the head gang member announces, “Oo, skwater kami! ’Yun talaga tawag namin sa sarili namin.

Bakit, may nakilala na ba kayong skwater na ang tawag n’ya sa sarili niya ay ‘informal settler?’” There is a Marie Kondo impersonator who wants people to throw away things that don’t give them joy, and launches into a photo of Duterte and Bong Go having breakfast and challenges the audience what in this picture does not bring them joy.

They throw jabs left and right on historical revisionism, toxic masculinity, fake news, the drug war that makes you gasp and laugh and also profoundly hurt as the sketches and bits are informed by an undeniable painful truths. Kudos goes to the naughty and gregarious mind of the show writers for getting all these ideas that are made both abrasive and artful, as opposed to sour and slapstick.

If there’s one thing to nitpick about all Live AIDS shows, it’s the sound system. There’s always a time when the audio will not work, or there will

be scratches that are annoying and disrupting, sometimes prompting the performer to go off-script and crack a joke or two about the sound. Maybe this is really a trademark of the show but it’s one trademark that should be taken out.

Live AIDS has a reputation of being a canny social satire and deservedly so. But the show is sillier than its reputation, and that is a good thing. You can look at it actually both ways: a serious show with a statement that makes you laugh, or a raunchy, no-holds-barred comedy show that makes you think.

Either way, game na game ako sa ganyan!

■■■ CINEMA One, one of the first locally produced cable channels in the Philippines, commemorates 25 years of championing Philippine cinema and launches its silver anniversary theme song, “Laging Kasama,” performed by Daniel Padilla.

Daniel recently performed the song in ASAP Natin ’To. The music video is also available on Cinema One’s YouTube channel.

One of the country’s leading cable channels, which has showcased and delivered thousands of Filipino films to TV screens, Cinema One will also premiere the highest grossing Filipino film of all time, The Hows

of Us, starring Daniel Padilla and Kathryn Bernardo, on June 30.

Channel Head Ronald Arguelles shared that Cinema One was born to provide a 24-hour channel showcasing Filipino films.

“Aside from doing our core programming made up of classic and contemporary Pinoy films, we also began producing local magazine shows, like Cinemanews, Persona, Cover Story and Review Night,” Ronald said, listing down the channel’s local production beginnings in 2001.

Today, the Cinema One brand has evolved from merely airing movies to producing its own films through the annual Cinema One Originals festival.

The fearless film festival has earned international recognition and launched award-winning stories, including the box-office hit That Thing Called Tadhana.

Bianca Gonzalez, host of the channel’s magazine show Cinemanews, hailed Cinema One for opening opportunities for young filmmakers, the future of Philippine cinema. “Here in Cinema One, especially in Cinemanews, independent filmmakers and film personalities are given more airtime to articulate their views and opinions about their projects and discuss varied issues affecting work and their lives.” ■

PILIPINAS Di Ba Ti (The 2016 elections parody)

Final 14 ‘StarStruck’ hopefuls revealed BACK in the day, so long ago that it might very well be ancient history, kids and teens dreamed of becoming a doctor, or a lawyer, or a scientist.

These days, invariably they will tell you that they want to be an artista or a celebrity.

Whatever your judgment on society’s collective celebrity obsession, the seventh season of GMA’s original realitybased artista search, StarStruck, is off to a tough but exciting start. From 22 auditionees, the competition is now down to its final 14 hopefuls who are about to go on more challenges on their journey to become the next so-called Ultimate Female and Male Survivors.

The final seven female finalists are Pamela Prinster, Angelic Guzman, Dani Porter, Ella Cristofani, Shayne Sava, Lexi

Gonzales, and Rere Madrid (perhaps needless to say, she is the sister of GMA artist Ruru Madrid; we can confirm with confidence they are not related to the fabulous RiRi).

Meanwhile, the final seven male finalists are Abdul Raman, Karl Aquino, Kim de

Leon, Gelo Alagban, Jeremy Sabido, Jerick Dolormente and Allen Ansay.

Now that they have passed their Final Auditions in front of the StarStruck council— Heart Evangelista, Jose Manalo and the incomparable Cherie Gil—they will be

immersed in more artista tests which include singing, dancing and acting. Their outputs will be presented to the judges and will be given comments, recommendations and evaluated for their scores. However, the judges’ scores will only comprise 50 percent of each hopeful’s

total score, while the other 50 percent will come from audience votes. Voting has been opened for viewers to show support for their favorite hopeful. They can vote through SMS by typing Starstruck (space) Name of Hopeful, and send this to 4627. Voting online can also be done at www.gmanetwork.com.

StarStruck Season 7 is hosted by Jennylyn Mercado, the first-ever Ultimate Female Survivor, and top GMA star Dingdong Dantes.

Daily updates on StarStruck and the journey of the final 14 via Inside StarStruck, hosted by Kyline Alcantara, from Monday to Friday at 6 pm on the program’s official YouTube channel.

Meanwhile, StarStruck airs every Saturday after Daddy’s Gurl and every Sunday after Daig Kayo ng Lola Ko on GMA.

Tom Holland, far from over CONTINUED FROM D1 character. Sometimes you think he’s just talking to you, then you realize, damn, he is doing the scene right now!”

Only a handful of years into his career, Holland has had the privilege of sharing big scenes with not only Jackson and Gyllenhaal, but stars of the calibre of Robert Downey Jr., Michael Keaton and Naomi Watts. He added that he has learned so much.

“You find that with acting it is similar to playing tennis,” he reflects. “If you are playing tennis against someone who is really good, you sort of rise up.

You try your best to play better. It is a similar sort of thing with acting. When you are working with someone who is that good, it makes you think more about minor details you have made for the character and you try and piece things together.”

Nevertheless, as with Spider-Man: Homecoming, the heart of the sequel is the natural chemistry between the younger cast members, especially Jacob

Batalon, returning as Peter’s best friend and chief nerd Ned, and Zendaya as the somewhat aloof MJ. “We get to see their relationship develop in much more detail than we did in the first film,” he said excitedly. “It’s been really fun. MJ’s character is the same, but we are exploring it more.”

With the group now friends on- and off-screen, there has been a lot of natural improvisation, which was something Watts actively encouraged. Holland laughs, thinking back over the scenes. “Jon is such a great director to work for you because he allows you to do a 20-minute take of absolute nonsense, but that 30 seconds at the end could be gold.” Watts, says Holland, creates an environment where actors can make mistakes creatively. “Even on a film of this scale, he was not afraid to go, ‘Oh no, let’s do it 20 times to see if we can get it right.’” Hopefully, as long as that’s not while he is in the harness.

In Philippine cinemas on July 3, Spider-Man: Far From Home is distributed by Columbia Pictures, local office of Sony Pictures Releasing International. ■

“YOU find that with acting it is similar to playing tennis,” said Holland, on acting alongside Samuel L. Jackson and Jake Gyllenhaal in the new SpiderMan movie. “If you are playing tennis against someone who is really good, you sort of rise up.

You try your best to play better.

FROM left: Allen Ansay, Kim de Leon, Karl Aquino, Jeremy Sabido, Gelo Alagban, Abdul Raman, Jerick Dolormente, Lexi Gonzales, Shayne Sava, Rere Madrid, Ella Cristofani, Angelic Guzman, Dani Porter and Pamela Prinster

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, June 28, 2019 E1

AFTER-SALES SATISFACTION DIPS AS WAIT TIMES INCREASE

P

RIMARILY driven by challenges in the service center, overall customer satisfaction among vehicle owners in the Philippines decreases to 803 (on a 1,000-point scale) in 2019 from 812 in 2018, according to the JD Power 2019 Philippines Customer Service Index (CSI) Study.

The study finds that customer wait times have increased compared with 2018. More than one-third (35 percent) of customers experience wait times of more than 30 minutes to handover their vehicle for service, an increase of 11 percentage points from 2018. Satisfaction among these customers is lower than those who experienced a shorter handover time (787 versus 812, respectively).

“This situation is not new to the industry, the time spent by customers to drop off a vehicle for service is a key contributor toward their overall satisfaction,” said Sigfred M. Doloroso, country manager for the Philippines, JD Power. “However, this is an issue that can be mitigated through the efficient use of a proper appointment system. Dealers need to actively encourage the scheduling of appointments and ensure they consistently deliver not only a more personalized service to after-sales customers but also a faster turnaround from drop-off to pick up.”

Findings from the study also show that the service process is slower, with 69 percent customers indicating that service took three hours or more to finish, an increase of 11 percentage points from 2018. Furthermore, 72 percent of customers indicate that paperwork completion took more than 10 minutes during the vehicle pick-up. Customers who spent more than 10 minutes doing paperwork are less satisfied than those who experienced a faster paperwork process (793 versus 831, respectively).

Following are additional key findings of the 2019 study: n Encourage appointment setting: Nearly three-fourths (73 percent) of customers scheduled an appointment for their vehicle service, which is 10 percentage points lower than in 2018.

Customer satisfaction is higher when customers make an appointment versus when they do not (807 versus 793, respectively). Nearly two-thirds (62 percent) of customers indicate a preference in making appointments over the phone. n Promote quick/express service: Only 39 percent of customers were offered the option of an express service, a drop of 16 percentage points from 2018. Notably, among customers who made service appointments, satisfaction is 23 points higher when they were offered express service than when they weren’t (820 versus 797, respectively).

Study rankings

MAZDA ranks highest, with an overall score of 824. Mazda performs particularly well in four of the five factors: service initiation; service facility; vehicle pick-up; and service quality. Nissan ranks second with a score of 814 and Hyundai ranks third with a score of 811.

The JD Power 2019 Philippines CSI Study measures customer satisfaction with the servicing and vehicle-return process. The study is based on responses from 2,384 new vehicle owners who purchased their vehicle between January 2016 and April 2018, and took their vehicle for service to an authorized dealer or service center between January 2018 and April 2019. Now in its 19th year, the study measures overall satisfaction among vehicle owners who visited an authorized service center for maintenance or repair work during the first 12 to 36 months of ownership based on five factors (in order of importance): service quality (28 percent); service initiation (20 percent); service facility (20 percent); vehicle pick-up (17 percent); and service advisor (16 percent). Overall satisfaction for the industry is 803 points.

The study now also includes the net promoter score, which measures customers’ likelihood to recommend their vehicle brand on a 0-10 scale.

Moto

Business

E2 Friday, June 28, 2019

THE front end now looks more striking

THE rear end may have received minimal changes yet it’s still equally striking

THUMBS UP n Overall enhancements inside and out n Exceptional driving dynamics n Powerful SKYACTIV-D turbodiesel engine n Active safety and special features

THUMBS DOWN n Infotainment unit display size

UNMISTAKABLY cozy cabin with lots of convenience features

DIMENSIONS n Overall length: 4,870 millimeters n Overall width: 1,840 mm n Overall height: 1,450 mm n Wheelbase: 2,830 mm n Tire size: 225/45 R19 n Price as tested: P2.25 million

SPECIFICATIONS

CLEAN, advanced and powerful yet efficient SKYACTIV-D turbodiesel engine

n Vehicle: 2019 Mazda 6 Sedan Diesel n Type: Midsized sedan n Engine: 2.2-liter SKAYACTIV-D diesel, inline four-cylinder, with two-stage turbocharger n Maximum power: 187 hp at 4,500 rpm n Maximum torque: 450 N-m at 2,000 rpm n Transmission: SKYACTIV-DRIVE six-speed automatic

oring

sMirror

Friday, June 28, 2019

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Motoring BusinessMirror

E4 Friday, June 28, 2019

Lexus scores big in ARCC race at Clark

I

N a stunning turnaround, Lexus scored a smashing victory in the recent 2019 Phoenix Fuels-STV Auto Rallye Corporate Challenge (ARCC) at Clark in Pampanga, punctuating its dominant finish by capturing the overall Corporate Team crown.

The high-end premium brand ran away with three of the six categories contested, recording its most fruitful harvest in almost a decade of participation in the annual, prestige-laden event.

“I couldn’t ask for more,” said Raymond T. Rodriguez, the president of Lexus Manila. “In keeping with tradition, we joined the race mainly to renew cherished friendships in the industry. But look what we’ve got, a load of victories practically on all fronts of the Rallye. This is more than a bonus!”

The breakthrough triumph saw Lexus grab the race’s spotlight from among the country’s select 10 car companies fielding at least three vehicles each in the “on time, all the time” event upon the invite of Rallye founder Ray Butch “Elvis” Gamboa of Motoring Today fame.

The event was glitch-free from beginning to end as the rally carried its trademark mantra of “safety first at all times”

espoused by its robust race backer NlexSCTEx, through its top and tough executives Atty. Junji Quimbo and Coach Allan Gregorio.

Lexus captured the Special Stage with a mere 0.09 demerit over JAC (0.25 demerits) and Maxus (03 demerits) after a smashing rout of the 31-car field in the Hidden Checkpoint tussles by winning all three events contested in this unique category.

The Lexus drivers in the Special Stage were Eric Valera, Jan Gomez and Jic Valera, who defeated JAC’s Milo Rivera, Dexter Ayco ad James Valdez, and Maxus’s Fhort Manahan, Alfred Mendoza and Ren Alcantara.

The rare three-race sweep of Lexus in the tricky Hidden event were authored by Raffy David, Carlo Villanueva and Aurick Go (Run 1, 14 demerits), Eric Valera, Jic Valera and Jan Gomez (Run 2, 0 demerit) and again David, Villanueva and Go (Run 3, 1 demerit).

As if this was not enough, Eric and Jic

Valera, and Gomez won again, prevailing in Race 3 in the Alpha Category. They scored a rare 0 demerit in a tie with Mini’s Alain Soliven, Lindy Pellicer and Mike Potenciano.

Lexus also won in Run 4 of the Beta Leg with an astonishing perfect run of 0 demerit through Atty. Monch Gupit, Dennis Ayuyao and Chester Gokingyok.

Then Lexus would slow down a bit, settling for third (David, Villanueva and Go, 376 demerits) in the Individual Team category behind winner Isuzu’s Olson Camacho, Anjo Perez and Steve Acayan (233 demerits) and second-placer Subaru’s Stuart Samson, John Harmon Camu and Alex Angeles (333 demerits).

But Lexus would bounce back tremendously, stashing away the prestigious overall championship in the Corporate Team contest with plenty to spare—posting a

huge margin of 1,002 demerits over secondplace Mini (1,832 demerits) and 1,520 demerits over third-place Subaru (2,350 demerits).

Lexus President Rodriguez just couldn’t hide his joy.

“I am simply overwhelmed,” he said.

“The boys were fantastic. They outdid themselves! Cheers!”

From the Lexus team captain watching it all unfold, this: “Well done, fellas!”

Socco speech

RESUMING the speech on the Toyota Hybrid by Vince Socco, TMAP executive vice president: “The Toyota Motor North America’s headquarters in Plano, Texas, has the largest on-site corporate solar installation among nonutility companies in the state.

“In total, the 8.79-megawatt system pro-

vides about one-third of the daily electric needs of the company, and reduces annual CO2 emissions by 7,198 tons. It is equivalent to the electricity used by almost 1,200 average US homes for a year.

“As I mentioned, our TEC2050 goes beyond Net Zero Impact to Net Positive Impact. Challenge 4 takes us there…the need to conserve water resources by using less water and recycling as much as we can.

“Toyota strives to respond flexibly to climate change and address regional issues in a timely and effective manner.

“Water is used in painting and other car manufacturing processes. Globally, Toyota is steadily implementing measures to reduce water usage “We have adopted a twofold approach: 1. Use less amount of water at each plant to minimize the impact on the surrounding environment.

2. Have a net positive impact on the environment by returning clean water to the local water environment.

“Specifically by 2030, we will prioritize four challenged plants for water usage reduction and 22 plants for assessment and usage reduction across three regions, respectively, including Asia in both cases.

“For example, in Toyota France, water is mainly sourced through rainwater harvesting in on-site lagoons. This meets their water requirements to the extent of 60 percent. In addition, 40 percent of such used water from the process is recycled, thereby reducing the overall industrial water usage to almost 100 percent.

“Similarly, at Toyota India, we recycle around 75 percent of the water we use and we harvest 15 percent of our water requirements from rainwater harvesting.” To be continued

PEE STOP Dapper always Alfred Ty is now

officially the chairman of Toyota Motor Philippines, with Dr. David Go as vicechairman. Alfred, indeed, has come a long way. Cheers!

MV AGUSTA STEERS ANOTHER MILESTONE

F

OR more than 70 years, MV Agusta has been building motorcycles that craft emotions, making “Motorcycle Art” truly embedded in their brand heritage.

Racing through history since 1945, MV Agusta has committed their crafts-

manship to passion, design, performance, and authenticity, treating every machine a timeless masterpiece.

The rebirth of a masterpiece

TO further cement MV Agusta’s brand lead-

ership in the country, they took their Italian roots and steered a techno-renaissance motorcycle art show to celebrate their rebirth and reintroduction to the local market.

Held recently at Xylo, The Palace, the brand welcomed guests with an industrial spectacle featuring some of their iconic designs and engineering technology.

In an endless pursuit of bringing precisely handcrafted pieces to the rest of the world, Motostrada’s CEO, Emmanuel Lu, also talked about the MV Agusta’s plans on taking the brand’s story to a whole new level.

“This evening is all about rebirth. A renewed vow. A brand-new journey. We believe that our commitment is not just about building motorcycles—it is, in fact, creating motorcycle art,” said Lu.

Passion and performance

FROM the hangars on the shores of Lake

BRUTALE 800 Pirelli

Varese, where seaplanes were once built and launched, MV Agusta continues its longstanding tradition of craftsmanship, design and advanced engineering.

This year, the Italian brand sets forth another mission to extend their excellence and strengthen their dedication to innovation, most especially to the growing and promising group of motorcycle champi-

ons in the country.

“The night is just the beginning of the many journeys that we’ll have with all of you. Again, on behalf of MV Agusta, I welcome you all. Now sit back, and get ready for a ride of a lifetime,” further added Lu. To know more about MV Agusta, visit https://www.mvagusta.com/en/ or like MV Agusta PH on Facebook.

Vespa Primavera introduces the new S version V ESPA Primavera has always been a true star of the times, a timeless icon, continuously evolving. Today the revolution continues with the new Vespa Primavera S, that adds boldness and sportiness to the classic Primavera.

This outstanding and sophisticated Vespa is characterised by the edge shield, rims and horn cover in dust grey. The steel body of Primavera S has a dedicated stunning color range: New Red Profondo, Black Vulcano and White Innocenza. This model came to life for the ones who set the trend, those who want to show their true selves in the most distinguished way from others and define their own style to be stand out in the crowd.

The new Primavera S is fitted with a modern cylinder four-stroke 150 cc iGet engine, air-cooled and equipped with electronic injection and three-valve distribution. Each detail from the exhaust to the inner structure of the transmission casing was designed to provide a smooth, quiet and comfortable ride. The control unit contains a barometric sensor, which ensures always optimum combustion under all conditions and at all altitudes. The engine power and torque delivered thus reach new levels of steadiness and reliability, also in city traffic, characterized by continuous “stop and go”.

The engines are absolutely environmentally friendly and perform at the top of their category, making the “small body” Vespa especially perky both under city traffic conditions and in open-road stretches. This brilliant performance comes together with extremely low fuel consumption.

PRIMAVERA S Red Profondo

Vespa Sprint S

VESPA Sprint S further accentuates Vespa Sprint's sporty styling and is designed to be the gutsiest of Vespa's family. The new Sprint S adds a series of novelties to the already-sporty Vespa Sprint, the first scooter in this class to mount two 12" rims.

The seat of the new Vespa Sprint S is unique to this model and adds a sporty elegance to the line.

The colours are also designed for this specific model that will be available in: New Grey Materia, Blue Vivace and Black Vulcano. With entire steel body under the stunning new colors, characterised by the sporty

SPRINT S Blue Vivace

stickers and details in glossy red, Vespa Sprint S is made for those who play to win, for the skilful players in their own adventures of life to turn everyday travel into pleasure and fun.

The new Sprint S is just like the Primavera S, which is equipped with electronic injection and three-valve distribution. The engines are absolutely environmentally friendly and perform at the top of their category, making the “small body” Vespa especially perky both under city traffic conditions and in open-road stretches. This brilliant performance comes together with extremely low fuel consumption.

Rotary Club of Manila BusinessMirror

www.businessmirror.com.ph

Project Manager: Czarina Gonzaga • Friday, June 28, 2019

F1

From Makati to New York, from the farm to the boardroom: the ‘broader look’ thrives

T

HERE is one moment in December 2008, just two years after BusinessMirror was founded, that its publisher likes to consider among the most fulfilling and heartwarming in his perennially stressful, challenging role.

On that winter evening in New York City, T. Anthony C. Cabangon received from then United Nations Secretary General Ban Ki-Moon the Gold Medal for the UN Correspondents’ Prize for the best humanitarian story: a special report of the BusinessMirror on the food riots in Haiti, and how the tiny Caribbean nation was struggling to cope, in the aftermath of a deadly quake, with the impact of global events on its fragile economy.

The feat has since not been repeated by any other Philippine newspaper.

Covering that story wasn’t easy for BusinessMirror’s Imelda Visaya-Abaño, who in several instances had to quickly seek cover in some decrepit buildings whenever there was turmoil on the streets.

To Anton, as the publisher is better known, the UN gold medal was the best vindication of his father, BM’s founding chairman Antonio L. Cabangon Chua, who had always dreamt of setting up his own daily newspaper, even while he had already been nurturing for decades some of the country’s finest writers who graced the Philippine Graphic magazine – notably, national

artist Nick Joaquin, after whom the magazine’s literary awards is named.

Broader look

THE UN jurors’ choice of the BusinessMirror report on Haiti indicated, early on in the paper’s life, how universally well appreciated its tagline was: “A broader look at today’s business.” It is a mantra that has guided the owners and the paper’s employees the past 13 years, and everyone in what is now considered the country’s leading business daily instinctively lives and breathe it. They all know the paper exists–and has survived despite cutthroat competition in the shrinking market for print–precisely for that reason, i.e., to provide “the broader look” as no business paper can.

The tagline wasn’t the result of some whim on the part of the owners or any of the founding journalists at BM. It was the product of days of deliberations involving some of the country’s most experienced, respected and awarded journalists, and the professional managers and executives whom “Amba” (Mr. Cabangon Chua was once the country’s ambas-

FROM Left:Ner Lonzaga-Assistant Treasurer,Rotary Club of manila,Jimmie Policarpio,Immediate Past President,T.Anthony Cabangon-BM Publisher and Susing Pineda-Rotary Club of manila President during the awarding of BusinessMirror Business newspaper of the Year 2019 given by Rotary Club of manila held at New World hotel in makati City.Photo by ROY DOMINGO

sador to Laos) had assigned to help set up and manage the newest “baby” in his stable of companies in the ALC Group.

To this day, the tagline is sacrosanct, and everyone who works at BM instinctively strives to provide the “broader look” in every way. One may be doing a story for Science, or for Lifestyle or Show, or even Sports, but always, the product would be–from conceptualization to data gathering to interviewing and writing–a “broader look” at an issue, an event, a trend, a personality or a place.

Why, the “broader look”arose precisely because, in late 2005, “Amba” asked the founding journalists who set up BM to help justify why the country needed a second business daily in a mar-

ket then dominated by a 20-year veteran. After hours of deliberations and informal exchanges, the clear consensus was: we set it up because we want to provide “a broader look at today’s business.” So that was that, and the rest is history.

‘Forward-looking’

COME 2018, and the paper has added another implicit promise to its readers: “Forward-looking at 13” was the theme it embraced for its 13th anniversary in October 2018, producing a thick folio that focused on a wide gamut of sectors and people leading the march to an uncertain and challenging, albeit exciting future.

The year 2018 saw BusinessMirror reap a rich harvest of awards, with recognition for

the best in business reporting coming from the most prestigious institutions.

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

It also swept half of the individual categories, with its reporters adjudged as best in: Banking, Macroeconomy, Trade and Industry and Business Feature.

The BusinessMirror was also distinguished as the inaugural “Data Champion” of the Philippine Statistics Authority’s (PSA) first awards rites. Such recognition is one of its most trea-

sured, because such pays tribute to a very challenging part of the work of business reporters who, as in the case of BusinessMirror, must often plod for hours and comb through reams of boring, seemingly useless data, to give life to a story that was there all along, and impacts people in more ways than they can imagine. It affirms the conviction of BM’s founding journalists that, always, the best of journalism thrives, not in the blinding sheen of glamor or fleeting fame, but in those dark, difficult, uncharted corners or the seeming ordinariness of life that only a good story-teller can spot and latch on to.

In the last quarter of 2018, the paper won in the Institution category for print in the first “Bantog Science for the People” awards for media from the Department of Science and Technology and the grand prize in the individual category.

BM also shone brightest at the 12th Bright Leaf Agriculture Journalism Awards where, for the first time in its history since 2007, a single news outfit won two awards in two consecutive years.

The streak continued with the Luntiang Aligato award by the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore.

The Philippine Agricultural JournalistsSan Miguel Corp. (PAJ-SMC) bestowed eight trophies on BM at the 2018 Binhi Awards.

On June 6, 2019, the paper brought home the latest piece of recognition. It was named “Business Newspaper of the Year”for 2018-2019 at the Rotary Club of Manila’s Centennial Journalism Awards.

At the end of the day, to all those who work to bring out consistently good material – whether on print or online, whether a story or photo or a video – that is really the best tribute of all: for everyone to appreciate the tagline the paper lives for.

L.M. Fernandez

F2

Rotary Club of Manila

Project Manager: Czarina Gonzaga • Friday, June 28, 2019

BusinessMirror

www.businessmirror.com.ph

ROTARY CLUB OF MANILA’S ‘CENTENNIAL PRESIDENT’:

Uplifting Philippine society for a better future

P

By Recto L. Mercene

RESIDENTS of the Rotary Club of Manila (RCM) usually leave a mark—a legacy if you will—of their brief, oneyear term at the helm of one of the most prestigious organizations in the Philippines, with the noble objective of benefitting a significant portion of society.

With 230 members across the country, RCM is Asia’s first, and one of the country’s premiere Rotary Clubs, populated by the “who’s who” of the country’s elite circles.

Holders of RCM’s top post included names of high regard, such as James Chapman Rockwell, its second president and pillar of the Manila Electric Railroad and Light Company (predecessor of present-day Meralco), who bequeathed his surname to the area

that has now become the upscale residential and commercial area in Makati City.

William J. Shaw, the club’s president between 1924 and 1925, was the founder of Wack Wack Golf and Country Club (after whom the boulevard in Mandaluyong City was named).

Rotarian and former Philippine chief executive, Fidel V. Ramos, was the first and only regular member of a Rotary Club in the Philippines

to become a head of state.

Another RCM great was Carlos P. Romulo—journalist, statesman, Pulitzer Prize winner and Nobel Prize nominee, who was president of the General Assembly of the United Nations and gifted us with his wit, enduring humor and unsparing love of his country.

The most recent to hold the highest post of the RCM is Jesus “Susing” Pineda, who succeeded fellow banker Jose “Jimmie” Policarpio, Jr., a cabinet secretary under former president Joseph E. Estrada.

As he handed over the “key” early this month to new presidentelect Jack Rodriguez, BusinessMirror had the opportunity to interview Pineda about his tenure’s accomplishments, and things to expect from the RCM, now on its 100th year of existence.

Leaving a legacy

ACCORDING to RCM’s “Centennial President,” the most appropriate project he will leave as a legacy for the country is the education of our

nation’s youth.

Following closely Rizal’s admonition, “Bella esperanza de la Patria mia,” Pineda’s interpretation goes: “Education is the future of any generation; hence, the need to prepare our youth for tomorrow.”

The statement actually echoes Rotary’s core belief and advocacy: “Service to humanity.”

Along these lines, the dapper gentleman had embarked on two core endeavors, first of which is the RCM Educational Project. This plan entails subsidizing 100 graduating students with P2,000 per month each for their daily expenditures.

“We envisioned RCB to be a catalyst during the students’ senior years to prepare them for graduation,” he explained.

Pineda started the ball rolling as he provided P100,000 during his inauguration. The amount supported 50 underprivileged students of the Polytechnic University of the Philippines. Another P100,000 came out of his deep pockets for 50 other marginalized undergraduates from the Pamantasan ng Lungsod ng Maynila.

Eventually, the RCM shelled out P2.4 million for 100 privileged students. They have now graduated and arer ready to offer their knowledge to society—thanks to Pineda’s vision of a well-educated Philippines.

Another brainchild of his is the Sari-Sariling Aralan. The generous banker, who first organized the United Coconut Planters Bank (UCPB) in 1975, gave away halfa-million pesos jumpstarting the venture. The club’s copartners, he said, are Ayala Foundation, Grameen Australia-Philippines and the City of Manila.

He said the idea behind this undertaking “is to bring the school” to a sari-sari store in Tondo and enlist out-of-school youths (OSYs).

This would compel the youngsters to abandon loitering the streets and study, instead of falling into drug addiction, “and to teach them values, self-respect and personal betterment to bring them back to the fold.”

By the time he relinquishes the presidency this month, Pineda said RCM would have helped 80 OSYs graduate, courtesy of its humanitarian drive. He said the association aims to duplicate this scheme in two more locations of poverty-stricken communities.

‘Service above self’

DURING Pineda’s tenure, President Rodrigo Duterte gave his unrelenting support to RCM’s centennial celebration via Presidential Proclamation No. 423, where he declared the period of July 1, 2018 until

June 30, 2019 as the “Year for the Celebration of the Centennial Anniversary of The Rotary Club of Manila and the Rotary Movement in the Philippines and Asia.”

Genuinely encouraged by this presidential backing, Pineda enthused: “This proclamation will open new doors for RCM. I look forward to the many opportunities this will bring to our club, and the many Rotary Clubs in the Philippines—for support, partnerships and cooperative endeavors with government institutions and local government units, and the ability to help, as long as they are aligned with Rotary’s different noble advocacies, for service to the Filipino people.”

During their centenary, Pineda said: “We celebrate 100 years of service to humanity. Throughout the past century, one mission has united us together with many clubs around the world.”

He said “Service Above Self,” RCM’s motto, has endured for a reason: There will always be people who have less in life, and it is a challenge to our Rotary Club to fulfill the duty of answering their call.

“The value that Rotarians have exemplified as members in fellowship: global understanding, ethics, integrity, diversity, leadership and service will be essential to [pave] the way forward to the next century.”

Natural leader

A GIFTED storyteller, Susing can easily disarm those who come to share his friendship, which easily explains his ability to persuade fellow Rotarians to extend their financial resources, aside from their natural inclination to help the lessprivileged.

While still an up-and-coming businessman in 1975, tycoon Eduardo “Danding” Cojuangco recognized his talents and asked him to organize the United Coconut Planters Bank (UCPB).

Cojuangco gave Pineda a free hand in hiring highly intelligent professionals like managers, supervisors, as well as rank-and-file employees.

“Under these circumstances, I had the chance to get to know a lot of people, and this gave me the social skills to deal with them, since the bank’s core products are money and people,” Pineda explained.

He said he hired about 1,000 executives and employees during his tenure at the bank, which at that time grew to be one of the largest financial institutions in the country.

“The success of UCPB as a universal bank and a major player in the banking industry is a testament to the basic fundamentals of hiring

and inspiring people to get the best out of them, and maximize their potentials.”

He said he was able to bring this invaluable experience during his tour-of-duty at RCM, “since our projects are never done by one Rotarian, but by a group of Rotarians working for a common goal.”

Thus, during his stewardship of the club, they were able to raise other pursuits, like “One Marawi, One Rotary,” which is a self-funded project; Hospicio de San Jose’s “Save a Heart for Little Angels,” among others.

Helping all sectors

PINEDA said the group has helped establish important institutions that have shaped the course of Philippine history.

Among them, the Boy Scout of the Philippines, Philippine Cancer Society, Philippine Band of Mercy, Elsie Gaches Village for the Homeless, Community Chest Foundation, the Safety Organization of the Philippines, TOWER (The Outstanding Workers of the Republic) Awards Foundation, RCM MedicoSurgical Missions Foundation, Sagip-Kabataan (Save the Children) Foundation, and RCM Eyebank Foundation, among others.

RCM also provides monetary assistance to indigent families who have life-threatening congenital heart diseases (under the club’s Save a Heart campaign).

“The club has also embarked on [greening] activities, aiming to plant at least 100 million trees,” Pineda added.

RCM actively joined the Manila Bay cleanup drive. The aim, he noted, was for Metro Manila residents to have the chance to bathe and engage in other exciting water activities in the city’s signature body of water.

Divining the future in light of his recent experience with RCM, Pineda urged fellow members to join Duterte’s call in nation-building and poverty alleviation. This is possible, he said, through their project of providing education, skills training and character building.

“We must also teach the young to love their country,” Pineda suggested.

As RCM’s “Centennial President” marches on to new endeavors, he exhorted the new generation to carry on their shoulders the task of building the nation through “our service to others within the community, all over the country and across the world, observing the code of conduct of truth, fairness, goodwill and understanding.”

Rotary Club of Manila: 100 Years of Service to Humanity

By Stephanie Joy Ching

A

S the oldest Rotary Club in Asia, the Rotary Club of Manila has pioneered a mu okltitude of service organizations and projects in the Philippines. Over the years, it has established foundations such as the Boy Scout Movement and the Philippine Tourism Association. It has also sponsored rehabilitation programs for juvenile offenders and provided scholarships to many students. As the club celebrates its centennial, let’s take a trip down memory lane and look back on their humble beginnings and their greatest achievements.

History of the Rotary Club

THE first Rotary Club was first established on 23 February 1905 in Chicago, Illinois by Paul Harris. In the name of friendship, Harris arranged meetings with men from different professions in rotation at various places of business. This lead to them naming their club “Rotary”. The Rotary Club promoted “community betterment” through professional business practices

founded on goodwill. Over time, the club has extended their reach to other parts of the world, including the Philippines.

The Rotary Club of Manila was established in 1919 by Leon Lambert and four other prominent businessmen in Manila. Lambert held a luncheon meeting on January 12 of that year to organize the club. Informal meetings and a temporary board of directors lead the club until the charter was granted in June. Throughout the 1930s, the Rotary Club of Manila had started organizing daughter clubs in other parts of the Philippines. They were able to establish clubs in Cebu, Iloilo, Bacolod and Baguio before World War II forced them to stop all operations.

After the war, the club quickly rebuilt themselves under the presidency of Gil J.Puyat.

They established more daughter clubs in Malolos, Batangas, Cavite and Caloocan, celebrating their golden anniversary in 1969. Today, the club has over 800 chapters in the Philippines and have established projects and organizations that focuses of improving the lives of the less fortunate. Some of their notable projects and organizations include:

End Polio Now

ACCORDING to the Center of Disease Control and Prevention, Polio is a highly contagious disease that usually affects areas with improper sanitation. This means that the disease is more likely to affect people living in impoverished areas.

To decrease the risk of polio among these areas, the Rotary formed this foundation in 1979 to vaccinate people in need. Due to the Rotary’s efforts, worldwide cases of polio have dropped considerably. In 2014, the World Health Organization declared the South East Asian region as polio free. As of now, the only countries still afflicted with polio are Pakistan and Afghanistan, though the number of cases have dropped dramatically compared to previous years.

Sagip Kabataan Foundation

SAGIP Kabataan is a foundation established by the Rotary. The foundation provides for the educational and physical needs of the marginalized children in the country. They provide school supplies and shoes to the children under their care. They also provide rehabilitation services for children afflicted with

drug addictions. Last December 2015, they were able to raise 200,000 PHP for thirty-five orphans in Asilo de San Vicente de Paul, an orphanage located in Metro Manila. They also paid for the children’s school shoes and gave them bags of groceries for the holidays.

Philippine Cancer Society

THE Philippine Cancer Society was founded in 1956 by the Rotary Club and other groups like the Philippine Medical Association and the Department of Health. This non profit organization aims to prevent people from developing cancer through “information, education, advocacy and focused services.” They do this through partnerships with media groups to publish tri-media cancer awareness pieces. They also provide and conduct cancer screening tests or treatments such as biopsies, pap-smears and chemotherapy. Another responsibility they take on is the support of cancer control programs and various fund-raising activities. They record data on cancer incidences, fund research papers and surveys. They also hold Relay for Life events, which are marathons that raise awareness for cancer.

The funds collected from Relay for Life is used to further cancer related research in addition to treating those afflicted with the disease.

Celebrating 100 Years of Service to Humanity

THE 100th Years Celebration of the Rotary Movement in the Philippines will be held on 21 June 2019 at the Philippine International Convention Center (PICC), Pasay City.

The release of the Proclamation No. 413 by the President of the Republic of the Philippines, declaring 01 July 2018 to 30 June 2019 as the “Year for the Celebration of the Centennial Anniversary of the Rotary Club of Manila and the Rotary Movement in the Philippines and Asia”, underscores the historic importance of this event.

With at least 3,500 participating Rotarians from all over the Philippines and abroad, the occasion will be attended by the Rotary International President-Elect Mark Daniel Maloney as the Guest of Honor and to also administer the oath of office of Incoming District Governors and Presidents for the RY 2019-2020.

One of the highlights of the event will be a round-table discussion among Incumbent Rotary District Governors to speak on the past, present, and future of Rotary in the Philippines for the next 100 years.

The whole day affair also featured, among others the Centennial Legacy Service awards, which recognizes the outstanding community project with greatest impact to the community, club members and its families. Also, the Nationwide Choral Competition on the theme: The Filipino Youth Serving the Nation the Rotary Way for the Next One Hundred Years”.

Grand Choral finalists competed on June 21 event included Baguio City National High School (Region CAR), Ramon Magsaysay High School (Region NCR), ZEFERINO Arroyo High School (Region V), Negros Oriental National High School (Region VII), General Santos City National High School (Region XII).

For more information, visit www.rcmanila.org; for further queries, contact the RCM Secretariat at 527-1885/527-1886 or e-mail at rcmcentennial@gmail.com.

www.businessmirror.com.ph

Friday, June 28, 2019

A BusinessMirror Special Feature

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SAVOY HOTEL BORACAY N

OTHING beats a perfect getaway in this beautiful island of Boracay. Filipinos and foreign travelers are captivated with Boracay’s pristine blue waters and amazing sunset.

For that stylish comfort, unparalleled fun and pure relaxation, Savoy Hotel Boracay is the perfect place for you.

Nestled in the heart of Boracay Newcoast, it features four-star facilities with its 559 wellappointed rooms and access to a 295-metre white sand beach. If you’re longing for a private beach time, a good 10-minute walk to Cove 2 of Newcoast Beach would indeed fill your perfect getaway.

After a day of exploration on the island, Savoy Hotel’s chic rooms offers you a chance to relax with its view of the outdoors through your own balcony, a perfect spot to cool down after a day in the sun.

Whether it’s chilling or having a great time, Savoy Hotel Boracay got you covered! Spend your mornings with sumptuous buffet breakfast at Savoy Café or indulge in international and local cuisine at the recently converted full-day dining, Vienne Lobby Lounge for a more satisfying treat. Chambery Pool Bar offers you a quick recharge with its refreshing fruit shakes and cocktails while having a dip in the pool and relaxing in the poolside cabanas and loungers.

More than just a place for relaxing and eating, Savoy Hotel Boracay offers facilities for kids to enjoy too with its daily poolside activities and its mini indoor game room for kids and adults alike that will surely tickle your interest. Why lounge around in bed when the hotel has also planned of eco-friendly activities? A whole lot of exciting activities await the entire family with its poolside movie nights, yoga, biking, sunset watching, non-motorized aqua sports

activities such as snorkeling and kayaking and a lot more! Savoy Hotel Boracay has also opened the souvenir shop called Fiesta, and introduced new outdoor sports activities such as Zumba, Tai Chi, aqua aerobics, circuit training and beach volleyball. For those active bodies, the fitness center is equipped with up-todate gym equipment to keep your body in shape while the Lila Spa provides a welcome respite to soothe, refresh and rejuvenate your senses.

We have opened our Lila Spa with complete spa facilities for massage and facial care treatments. We know just the perfect place for you when the going gets tough and all you want to do is to relax and have fun!

Brimming with ocean views and unique amenities at every turn, Savoy Hotel Boracay offers a Daytrippin’ Package for as low as Php 1,500 per person. Guests can enjoy an invigorating 1 hour full body massage, Php 800 worth of food and beverage credits at Savoy Café, and a complimentary use of Savoy’s party pool and fitness center. Linger longer and give yourself more time to refresh and rejuvenate at our hidden paradise at Newcoast Beach from 8:00 am until 5:00 pm. This tour is available daily, but prior reservation is required.

Moreover, don’t let the rainy weather put a dampener from staying at your home away from home! Get as much as 65% off the room accommodations when you avail the Splash Sale package from July 1 to September 30, 2019 and take advantage of the 15% discount on food and beverage (except in-room dining) and all services at Lila Spa.

Savoy Hotel Boracay’s hip and vibrant vibe with its airy lobby, cool interiors, and bright colors will surely make your stay lively and colorful. Our tagline, Color Your Experience, is our

inspiration as it captures a total package of how we emotionally connect to our guests in the most unique, personalized and experiential way. As Adie Gallares, Area General Manager says, “our goal is to excite our guests’ five senses to create a long and lasting emotional bond that will last them a lifetime and even more.

Gallares shares that, “most of all, it’s the heartfelt service that we have that creates colorful experiences for our guests. We want to make sure that their experiences are truly memorable.”

Treat yourself to a welldeserved vacation and let Savoy Hotel Boracay color your experience!

Savoy Hotel Boracay is located at Newcoast Drive, Boracay Newcoast, Brgy. Yapak, Boracay Island, 5608, Malay, Aklan. To find out more about our promos and offerings, visit our website at www.savoyhotelboracay. com.ph or call us at +63 2 7201877 to 79 for inquiries. Like us on Facebook at www.fb.com/ SavoyHotelBoracay and follow us on Instagram at savoyboracay.

5 13 in

T

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

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

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

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

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

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

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

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

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

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

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

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

Laureate and former US Vice President Al Gore.

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

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

Arcalas also ranked third in the Agribeat Reporter of the Year

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

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

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

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

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

The BusinessMirror @13

FORWARD-LOOKING